2024-04-05-accounts

DIOCESE OF BRENTWOOD The Brentwood Roman Catholic Dlocesan Trust Registered Charity 234092 Annual Report 2023124 TI

Contents Diocesan Vision Strand One: Charity, Justice and Social Action Strand Two: Christian Life and Worship Strand Three: Education Strand Four: Family Strand Five: Formation Strand Six: Integration Strand Seven: Leaders 10 Strand Ei8ht: Material Assets Strand Nine." Prayer and Spirituality 10 11 Strand Ten: Priests and People Strand Eleven: Vocations to the Priesthood 11 12 Strand Twelve: Young People 12 Reports Report of the Directors of the Corporate Trustee Independent Auditor's Report 13 20 Accounts Statement of Financial Activitie5 23 Balance Sheet 24 Cash Flow Statement 25 Statement of Accounting Policies Notes to the Accounts 26 31

Diocesan Vision: Building On Our Past The Diocese of Brentwood was formally erected in 1917. Our first bishop, Bishop Ward had a great personal devotion to Our Lady's shrine at Lourdes and Brentwood was the first diocese in England & Wales to have Our Lady of Lourdes as its Principal Patron. His devotion to St Edmund of Abingdon lor Canterburyl, led to the choice of that saint as a Secondary Patron of the new diocese (together wlth St Erconwald and subsequently St Cedd). Our present Father in God is Blshop Alan Williams, a Marist Father and formerly Rector of the National Shrine of Our Lady at Walsingham. He has responslbllity for a diocese of rich diversity: East End and suburbs, towns anclent and modern, seaside resorts, rural parishes comprising dozens of villages, as well as schools, religious houses, and chaplalncies in hospitals, prison5 and u nlversities. It is our prayer that as we give thanks for the witness of past generations, we also pray for a fresh outpouring of the Holy Spirit that we may be evermore faithful to proclaiming the Gospel of Christ. Diocesan Vlslon: Shaplng Our Future The Stewards of the Gospel initiative has been a period of discernment for us as we seek the best response we can give to God's love for us in an ever-changing society. Following the publication of our Diocesan Vision: Shaping Our Future, parishes and parish partnership5 took time to interpret it in their local context and submit their plans for Bishop Alan's consideration. After an initial delay due to the COVID-19 pandemic, plans had been put in place during 2021/22 in order to relaunch the process in 2022/23. Unfortunately, the relaunch was further delayed until January 2024 when all parishes received a pastoral letter from Bishop Alan Williams SM announcing the re-launch of the partnership process with combined parish partnership pastoral council meetings to be held across the Diocese a5 a matter of urgency. The full document can be read at htt www.dioceseofbrentwood.net content loads 2017 04 Diocese-of-Brentwood- Vision-Document-l. df

Our Vision 'Proclaim the Good News of Jesus Christ in Essex and East London" The Church in Essex and East London working better and differently together to evangelise our diocese: it is a vision of the people of God here and now collaborating to use our various Grace-given gifts to evangelise our diocese to the best of our combined ability with the help of God Our Objectives Maximise the opportunities for evangelisation Maxlmlse sacramental provlsion Maximise the opportunities for putting faith into action through charitable works OUR STRATEGY Renewal and Restructuring IMPLEMENTATION Renewal: A 12-Strand Plan Restructuring: Parish Partnerships

Diocesan Vision: Our Legal Objects Partnership proces5 in January 2024 has also seen the appointment of Fr Dan Mason as the Episcopal Vicar for Parish Renewal. Our objects as set out in our legal constitution are the advancement the Romon Catholic religion in the Diocese by such means as the Bishop moy thinkfit and properfor the service ond support whether in the Diocese or outside the Diocese of charitable works and objects promoted by the Church." The Vision Document: Shaping Our Future represents a new way for us to work together for the advancement of the Roman Cathollc religion in our Diocese. It commits us to focuslng on restructuring ourselves and renewing ourselves, so that in turn we may best proclaim the Good News of Jesus Christ, Strand One.. Charit Justice and Social Action CARITAS "Social Justice demands that we fight against the causes of poverty: inequality and the lack of labour, land, and lodging; against those who deny social and labour rights; and against the culture that leads to taking away the dl8nity of others" Pope Francis Feb 2024 The Mission of Caritas Diocese of Brentwood is to maximise the opportunities for putting faith into action through charitable works, fully conscious of Christ's commandment to love our neighbour, defined by His words 'Whatever you do to the least of my brothers and sisters, you do to me, We seek to serve the marginalised, the poor and the vulnerable by highlighting and developing a broad range of charitable projects in Parish Partnerships and schools across our Diocese and nationally. Restructurlng It is currently envisaged that our restructuring takes the form of placing 86 of our 87 parishes in 21 Parish Partnerships. These partnerships consist of people working together with the help of God to achieve a common goal. Thus, our Parish Partnerships are intended to actively work together to achieve renewal. The Cathedral parish stands alone to best allow it to be the mother church and a beacon for our whole Diocese. The Vision of Caritas Diocese of Brentwood is defined by the truth that no- one is beyond the reach of the love of Christ, We aim to enable those in need of pastoral care to find that care and to better support those working on Social Justice projects in each part of the Diocese. The work of the parishes and the Parish Partnerships was SUPPOrted during the year by the Director of Development, and all the other vicariates and their respective executive departments. Renewal Our work and our achievements are reported in the context of our Diocesan Vision Document,, Shaping Our Future, so that for this year and moving forward we can report against the 12 Strands of Renewal. The relaunch of the Parish During the period, Caritas Diocese of Brentwood crystallised its work into three key strands. Environment (Laudato Si) Refugees and Migrants Homele55 and the Cost of Living

We facilitate on-line meetings for each of these strands once every four months, complemented by an annual resourcing and networking day, bringing people together from across the Diocese. care of, and service to, the Roman Catholic, and the broader community within our diocese, the provision, maintenance and upkeep of places of worship and, of course, prayer are largely undertaken by parishioners, priests and deacons in our parishes. Our 'intergenerational' approach to Caritas Diocese of Brentwood is also helping US to build young leaders for the present and the future, thus ensuring the longevity of our projects, In most cases, parishes are in the pastoral care of diocesan priests and in several cases, the parishes are in the pastoral care of priests from Religious Orders or The Personal Ordinariate of Our Lady of Walsingham. All our parishes are supported by an administration, referred to as the 'Curia" which is organised into Vlcariates 5UPPOrted in turn by an executive made up of paid lay people. caritas diocLsL of bre11￿ToOd The Diocese of Brentwood is a Real Living Wage employer. We continue to support the settlement of refugees in our communities via three Community Sponsorshlp schemes. Strand Two: Christlan Life and Worshi The celebrotion of the EuchL7rist is the source and summit of ourfGith, ond so all other liturgies flowfrom and to the celebration of Mass Our Diocese cons1Sts of 87 parishes. The number ha5 reduced in recent years, and we anticipate that as Parish Partnerships evolve the number will further reduce. Each Sunday an average of 34,985 people (32,333 last year) attended services. Attendance has continued to recover from the impact of the COVID-19 restrictions in 2020/2021 but has still not recovered to pre-pandemic levels. The number of people who were either baptised or received into the church also decreased The sacramental celebrations and other religious services, proclaiming the Gospel, exercise of the ministry of charity all take place in our parishes, Furthermore, engagement with society, the pastoral

slightly to 2,069 from 2,247 in the previous year. meetings and training for Religious Education Lead5, as well as a wealth of Governor training in the form of webinars. There has also been premises training, safeguarding training amongst the other sessions made available. We request feedback from attendees to evaluate the training delivered in order to ensure that training remains relevant, and updates can be made where necessary. Feedback from attendees has been positive. With our Liturgy Office, our Chancery Office is involved with the administration of the Rite of Christian Initiation of Adults programme, and the reception of hundreds of people, from across the Diocese, who have followed the "Journey of Faith" and wish to be received into the Catholic Church. On the first Sunday of Lent, more than 160 people hopingto be received into the Church at Easter, attended the 'Rite of Election, at Brentwood Cathedral. We continued to work closely with the Catholic Education Service ICES), Department for Education IDfE), Ofsted, Teaching Unions and the Regional Schools Commissioner IRSCI as well as relevant Local Authoritie5. As a religious authority, specific responsibi lities remain In relation to the essential function5 around Governance, Admissions, Reserved posts, RE and Collective Worship. Durlng the year, our parishes ralsed over £99,000 {2023: £104,000) to support international causes, including natural disasters and overseas mission work, a slight decrease when compared to the previous year. Parish volunteers contributed countless hours of work to 8ood causes both within and beyond our diocese. Feedback from our parishes suggests that we have in excess of 6,000 volunteers helping to support our parishes. School leadership recruitment formed a significant part of our work during the period. Recruitment can be challenging and so our support to schools includes the provision of advice at the beginning of the recruitment process coverin8 job descriptions, person specifications, shortlisting meetings as well as support during the interview process. All candidates- both Successful and unsuccessful are offered the opportunity to receive detailed feedback. Strand Three: Education Supporting Catholic schools to provide excellent educotion where pupils flourish and Christ is made known to oll. Our training provision to Schools generally continues to be delivered in a hybrid fashion with many face-to-face sessions and some by webinars. The detailed training schedule is extensive including ongoing modular courses for: Early Career Teachers (ECTS), the Catholic Certificate for Religious Studies ICCRS} induction for new Headteachers and Deputy Headteachers, termly update Catholic School Inspection IC51) is a key area of our work. We continue to ensure that a diocesan officer attends the feedback meeting at the end of a CSI or OFSTED inspection. We've established a regular communications link with schools and Advisers to ensure that all relevant information received from the Catholic

Education Service and other sources is disseminated on a timely basis, We now distribute relevant information on a weekly basis to schools, which includes prayer and Catholic life materials an opportunity for lay people to take on leadership roles. We ensure that training opportunities are increasingly accessible for governors via on-line provision in order to ensure Governors develop and maintain the required skillsets to both challenge and support the school leadership. The prime focus for the work of BDES is in securing, preserving and developing Catholic education into the future, as well as supporting schools when difficulties have arisen, where schools have experienced decline or turmoil and where schools have become more vulnerable. Our work is summed up in our Mission Statement; 'Supporting Catholic schools to provide excellent educt7tion where pupils flourish and Christ is made known to olj. Strand Four: Famll Supportfor morriage andfamily is o crucial part of the Church's ministry, and of great importGnce for society os a whole. As a department of the Vicarlate for Palsh Renewal, our mission is to proclalm the good news of God's love, revealed in a special way through the love of husband and wife, and the love for their children. Recognising that family life brings many challenges and is often undermined by the value5 of the contemporary world, the church ha5 a special duty to accompany our families and offer whatever support is needed. Six Catholic Multi Academy Trusts {MATs) now exist in our Diocese. They operate under distinctly Catholic name5 (Rosary Trust, Assisi Catholic Trust, Christus Catholic Trust, Good Shepherd Catholic Trust, Our Lady of Grace Catholic Trust and Our Lady of Fatima Trust). This approach remains the preferred structure for Catholic schools within the Diocese of Brentwood. The majority of our schools have now been academised, We have seven independent schools, Where ongoing support is required, couples are introduced to other appropriate organisations such as Marriage Care or Retrouvaille, or their own parish. To help schools in the procurement of supplles which are both ethical and good value, we facilitated a 'Company's Day, In January 2024, The day was run in conjunction with Church Marketplace, and was a great success. Our Chancery Office processes marriage papers for marriage5 taking place inside and outside the Diocese, and supported another significant increase in the process of marriage papers when compared to the previous year.. 56 (last year 811 sets of marriage papers for marriages taking place outside the Diocese, mostly overseas. Our vision is that our schools will work together collaboratively in a formal structure which works for them, and benefits both pupils and staff. SCHOOL GOVERNANCE Governance is an area of key importance to our Diocese and continued to represent

43 (last year 59) sets of marriage papers where one party belonged to another religion. 52 (last year 43) sets of papers, where one party had not been baptized; 86 (last year 119) sets of marriage papers for Catholics wishing to convalidate their civil marriage in the Catholic Church. of their Catholic Faith and to deepen their relationship with Christ though a life of prayer and service. Inspired by the Holy Spirit, it is hoped that lay men and women will find ways to grow in confidence as disciples and be better witness to the Church's mission of hope. A dedicated website was launched in June 2021. thr shold e.co.u The year on year decrease was expected due to the impact of a catch up in the previous year due to marriages being postponed during the COVID pandemic. Strand Six: Inte ration Make sure that every person of whatever bockground canfind in you a welcoming heart. In addition, the work of the Chancery enabled people to marry in Churches of other denominations, but with the necessary dispensations to allow the marriages to be recognised as valid by the Catholic Church. In our Vision we seek to build on the rich diversity of people in our Diocese through a generou5 inclusivity. We look to work together with people of all faiths and none where the opportunity arises. Strand Five: Formation INTERNATIONAL TWINNING Formation is a life-long process of listening to what the Holy Spirit is calling us to be and to do Our Diocese is twlnned with the Diocese of Dundee, Kwa-zulu Natal, South Africa. Our solidarity with our fellow Catholics in Kwa-zulu Natal is demonstrated by parishes and schools in both dioceses having twinned with each other. They build practical relationships beyond friendship and spiritual support. Fr Gerry, a Brentwood Diocese priest, regularly travels to Dundee to help support the Twinning Project. In order to support our catechists, we continue to offer The Bishop's Certificate in Catechesis and Youth Ministry is a yearlong course of 12 modules, covering different aspects of faith and Church teaching, a5 well as practical skills in Youth Ministry. It is an entry-level qualification to help in the ongoing formation of adults who are involved in sacramental preparation or youth ministry in our Diocese. It includes development of practical skills and the deepening of theological knowledge. During the year parishes raised over £7,300 for the Twinning Project- falling slightly from the previous year, when the figure was over £10,000. The Vicariate for Parish Renewal aims to provide a variety of resources and support for those lay men and women who wish to develop a more mature understandin8

Strand Seven: Leaders recognising that most of the work of our Diocese occurs through the parishes and that many regulatory burdens fall on them. Finance and Administration guidelines are circulated on a regular basis to parish, to ensure that the most up to date guidance is available for Parish Priests, parish administrators, and volunteers. By right of baptism oll are called tofulfil their vocotion GS the people of God. Duringthe year leaders continued to support our parishes and wider communities. School Governorship is an important role for lay people who have appropriate skills to perform, and we continue to encourage people to come forward and train. We provide support governors and at the online governor conference in March 2024 provlded an overview of the new diocesan guidance on admlsslons. We continued to offer a central payment facility for parishes as more suppliers request payment electronically. Alternatlve methods of giving continue to be considered across the Dlocese as the banking network continues to shrink and the process of banking cash becomes more problematic. Also, in education leaders have been appointed to be Trustees of our Catholic Multi Academy Trusts. This 15 a key role for people to play in the future of our children and of catholic education. The Finance Team provide online training on a regular basis for new volunteers and existing volunteers who are keen to learn new methods of working, Annual training is made available to all those involved the Finance and Gift Aid process, covering GDPR, Cyber Security, as well as General Finance and Gift Aid. Approximately 700A of our parish representatives are volunteers and we offer our thanks to them for their time and commitment. The Diaconate Is another key area where leadership can be exercised in our Diocese. During the period five people were in preparation for this ministry on the Southern Diaconate Formation Programme. Could ou be a deacon in our diocese?- Brentwood Diocese dioceseofbrentwood.net Strand El ht: Material Assets Property Team: The Property Sub- Committee has delegated responsibility for both advising and making recommendations to the Board of the Corporate Trustee on strategic property matters across the Diocese and, under devolved powers, approval of property related parish expenditure in line with financial policy. As stewards of all that God has given to us, it is our responsibility to Use those gift5 as well as we con. Parishes and Parish Partnerships have been looking at their material assets as a whole to see how they can be best used to fulfil our objectives and our Vision in their local context. The responsibility for managing the maintenance of parish buildings rests with the parishes under Canon Law although it is the responsibility of our diocese as a Central Finance Team., Our work focussed on increased support to the parishe5, 10

registered charity to ensure that assets are kept in a reasonably good condition. To complement the condition survey programme, funding towards the costs of energy surveys has been made available to parishes in order to help form a sustainability strategy to support the Diocesan Laudato Si commitments. of fire risk assessment completed by an authorised diocesan fire risk assessor. Strand Nine: Pra erands iritualit Our relationship with God in Jesus Christ will only continue to develop and grow if we pay attention to it. Prayers of intercession are made continuously throughout the year and during the year. htt www,brentwoodvocations,co.uk has many resource5 including prayers for vocations to the priesthood, htt www.brentwoodvocations.co.uk ra ers-2 Health & Safety The Health and Safety Sub-committee assists and advises the Board of the Corporate Trustee in the discharge of its health and safety responsibilities. The Dlocese appoints external consultants, SafetyToolbox Ltd, a5 the diocesan health and safety consultant and competent person to provide competent advice and support on the management and implementation of health and safety, fire safety and other related matters across the Diocese. During the year a series of online health and safety training modules were delivered for all clergy, parish staff and health and safety volunteers. The diocese recognises that fire has a unique capacity to threaten life, damage property, harm the environment and compromise our mission. Accordingly, the diocese is committed to taking reasonable and necessary measures to prevent fire and protect life safety in the event of flre in the context of the activitie5 of the Diocese. The Board of the Corporate Trustee as well as those in control of our premises have legal obligations under the Regulatory Reform (Fire Safety> Order 2005 {the FSO) and other relevant legislation. The updated Fire Safety Policy provides detail of a strengthened fire risk assessment programme which follows a five year cycle beginning with the delivery Strand Ten: Prlests and Peo We will explore new ways to recognise each other's gifts and to collaborate to bring our vision to reality. We are thankful for the priests serving our Diocese and . During the year, as congregations returned to our churches, many clergy continued to utilise the new ways that had been found to keep in contact with our parish communities durlng the pandemic. More masses contlnued to be live streamed, and where possible, social media and online facilities helped maintain contact and provide support for the local parish communities. Compulsory Safeguarding training now takes place for all clergy, a5 well as regular health and safety training. Days of Recollection durin8 Advent and Lent are also offered to our clergy. 11

Strand Eleven: Vocations to the Priesthood In 2023, although we began to feel that things were starting to get back 'on track,, with successful pilgrimages to Lourdes (travelling as a group of 112 representing 39 parishes and 9 secondary schools) and also World Youth Day in Lisbon, due to the lack of volunteers we were unable to offer a full programme of retreats. Instead we made our retreat centre available to schools and parishes to run their own retreats and training days. We have continued to recognise that our first duty to encouroge vocotions as Catholics is to prayfor priests and those considering priesthood. The vocations website includes interesting and inspirational vocation stories told, by our diocesan priest5 and some of our seminarians. These powerful witnesses were recorded live as part of the holy hours to pray for vocations held throughout our diocese www.brentwoodvocations.co.uk s-stories The stories are also available via @BrentwoodVoc5 Walsingham House holds the Lotc Quality Badge (Learning Outside the Classroom), a national award which assesses both risk management and educational provlsion. vocation In September 2023 we ran two retreats for Year 13s- in order to promote the opportunity to volunteer at Walsingham House and to ensure that a full retreat programme could be rolled out for the academic year 2024-25. We continue to pray for our seminarians and that many more will listen and respond to the call of Jesus to share in his priesthood. Young people are the future of our church Strand Twelve: Youn Peo You too, dear young people, con be joyful witnesses of his love, courogeous witnesses of his Gospel, corrying to the world o ray of his light. Our Vicariate for Youth Mlnistry can function only because of the Ereat dedication of volunteers- young adult volunteers aged 18-23 who typically work with our staff at our Walsingham House retreat centre, for a year. During the COVID pandemic retreats and pilgrimages were cancelled- the effects were felt acutely by young people. The greatest challenge to faith and to the work of the Vicariate were the limitations of in-person gatherings. 12

REPORT OF THE DIRECTORS OF THE CORPORATE TRUSTEE structure, Governance and Management The Brentwood Roman Catholic Diocesan Trust {the Charity) was constituted by Trust Deed in 1947. It is a registered charity, number 234092. Its objects are the advancement of the Roman Catholic religion in the Diocese by such means as the Bishop may think fit and proper for the service and support, whether in the Diocese or outside the Diocese, of charitable works and objects promoted by the Church. In addition, there are two separate funds which are registered as individual charities: The Brentwood Ecclesiastical Education Fund (BEEF) - the fund of the Diocese which meets the cost of educating and training seminarians- is a separately constituted charity under a Trust Deed, dated 11 July 1922, and registered under number 1067745. It is accounted for as a restricted fund within the Diocesan accounts. The investments of our Diocese are managed as a Pooled Fund, which is separately registered with the Charity Commission under number 1067742. An order of the Charity Commlssioners under 596{6} Charities Act 1993 permits the three charities, which have the same Trustee, to be treated as a single entity for accounting purposes. Admlnistration of the Charlty is through the Brentwood Roman Catholic Diocese Trustee (the Corporate Trusteel. The Brentwood Roman Catholic Diocese Trustee, a company limited by guarantee, was set up in 1948 to act as custodian trustee in relation to the Charity and the ecclesiastical trusts of the Diocese. Its company number is 450897. All parish property is in civil law held by the Corporate Trustee, subject to the Charity Trust Deed. The acquisition or disposal of parish property therefore must be sanctioned by the Directors of the Corporate Trustee, and all relevant documentation must be drawn up in the name of the Corporate Trustee. Dlrectors of the Corporate Trustee In keeping with the Charlty's objectives, it is a requirement that candidates for Directorship are committed Roman Catholics. The power to appoint Directors is vested in the Bishop of the Diocese. Where additional Directors are required, the Bishop will consider the range of skills and experience required on the Board (such as finance, investments, strategic planning etc,), and will approach individuals in the Diocese who are likely to meet these requlrements. Prospective Directors are provided wlth full information on the Charity's constitution, objects and finances. Training materlal is made available as necessary, and Directors are encouraged to complete online training modules which have been approved by the Charity Commission. Governance of the Charity The Charity is governed by the Board of Directors of the Brentwood Roman Catholic Diocese Trustee {the "Corporate Trustee") which consists of the President of the Corporation (the Bishop of Brentwood) and up to fourteen other Directors. The Board, in conjunction with the canonical bodies established by the Bishop to be his advisors and consultors, is responsible for the development and implementation of policies which ensure compliance with civil legislation and canon law. The key policies are safeguarding, health and safety, risk management, the production of financial budgets, the exercising of financial controls through regular financial reporting, the management of Diocesan properties, polices relating to employment and the compliance of the Charity with relevant company and charity legislation. 13

Authority for the management of the day-to-day business of the Diocese and compliance with civil legislation is delegated by the Board to the respective departmental Directors and parish priests in accordance with their directions. In March 2014, the Finance Board (now known as the "Board") approved revised Articles of Association for the Corporate Trustee, establishing the Bishop of Brentwood as the sole Member of the Corporate Trustee; the Board cannot implement a decision with which the Bishop disagrees. In December 2020, following an internal governance review, the Articles of Association were further revised, inter alia removing references to the 'Finance Board, and replacing these with the 'Board" Sub-committees of the Board The Board has established several Sub-committees delegating to them the consideration of specific areas of irnportance to the Diocese and authorising them to make some decisions and to submit recommendations to the main Board for approval.. Parish Renewal Education Finance and Adminlstration {including Investments) Health & Safety Human Resources & Diversity Property Safeguarding Youth Ministry and Pastoral Care A separate committee (not a Sub-committee of the Board) reviews the provision of support to sick and retired clergy and meets on a regular basis. Key Management Personnel The Trustee considers that the Directors of the Corporate Trustee, together with the Director of Finance, the Director of Education, the Diocesan Safeguarding Coordinator, the Diocesan Director of Development, the Director of Property and the Bishop's Delegate for Civil Administration comprise the key management personnel of the Charity, in charge of directing, controlling, running and operating the Charity on a day to day basis. Salaries are reviewed on an annual basis by the Human Resources Team and authorised by the Board. All Directors of the Trustee gave of thelr time freely, and no Director received remuneration in respect of their services as Directors of the Corporate Trustee. Details of the Trustee Directors, expenses are disclosed in Note 18 of the accounts. Financlal Revlew Investment policy The Diocese follows a total return investment policy, to achieve long term capital and income growth, to provide sufficient income to support today's beneficiaries whilst still seeking 'real' growth in capital over rolling 5 year periods to meet the future needs of the Charity. The 5 year annualised performance of the portfolio was 7.IOA as at 31 March 24 in comparison to the 5 year annualised CPI of 4.4%. The Portfolio has performed better when compared to the ARC Peer Groups. The Trustee is empowered within the Trust Deed to invest any monies as authorised by law for the investment of trust monies, in a manner which it thinks fits with the consent of the Bishop. The provisions of the Trustee Act 2000 apply. 14

Under section 26 of the Charities Act 1993, an Order was made by the Charity Commission on 5 December 1999 granting the Trustee power to appoint an investment manager, and to appoint a corporate body as the Trustee's nominee to hold the investments of the Charity. The General Power of Investment in the Trustee Act 2000 allows 'Trustees to invest trust funds in any kind of investment, excluding land (except under certain provisions], in which they could invest if they were the absolute owner of those funds,. Diocesan Ethlcal Policy for investments: The Diocesan investment portfolio avoids investment in tobacco, arms, alcohol, gambling and pornography. Investment is also to be avoided in companies which support oppressive regimes, or trade in products which are produced by child labour or in forced labour camps, or companies which have been involved in the exploitation or unjust treatment of employees. Our investment managers, Sarasin and Partners LLP, monitor any investments made by their Endowment Fund In companies which generate any revenue from the direct or indirect manufacture of pharmaceutical products, the use of which would contravene the Catholic Church's teaching on the sanctity of life, The fund manager also seeks to avoid investments in companies involved In predatory lending. Our investment managers take a pro-active approach in respect of voting on company resolutions, in order to promote responsible long- term stewardship. The Sarasins Endowment Fund wlll not invest in tobacco and wlll also avoid investment in companies that have more than IO% of their turnover from the following: Alcohol Manufacture Armaments Gambling Pornography Sarasin & Partners has continued to actively engage with companies and regulators in order to uphold high standards relating to environmental, social and governance matters on behalf of the Trustee. Risk Management: The Directors of the Corporate Trustee have assessed the major risks to which the Charity is exposed and are satisfied that adequate systems are in place to mitigate exposure to these risks. Risks are recorded, by department, and a RAG status applied. Actions to mitlgate the rlsks are identified and a timescale for completion assigned. The major risks are considered to be health and safety (ensuring that our buildings are maintained to an adequate standard, and policies adhered tol, and pastoral (the falling number of priests in ministry), To mitigate the health and safety risks, a Health and Safety Committee rneets on a regular basis to ensure that policies are being communicated and applied appropriately, risks are reviewed and action taken where appropriate. Health and Safety representatives are appointed at parish level. In respect of the falling number of priests in ministry, the Diocesan Vision addresses this issue and sets out plans in order to mitigate this risk going forward. Financial Control Policy: Our Diocese has a series of financial controls and signing limits in place (in the parishes and at the Curial in order to enable the Corporate Trustee to exercise its le8al duties: To ensure we are carrying out our purposes for the public benefit To comply with our governing document and the law To act in the best interests of our Diocese To manage responsibly the resources of our Diocese To act with reasonable care and skill To ensure that we are accountable. 15

We continued to review the support provided to parishes during 2023-24, together with our associated controls and procedures continue to be reviewed on an ongoing basis. Public Benefit: The Board Members confirm that they comply with the duty in S17 of the Charities Act 2011 to have due regard to the Charity Commission's public benefit 8uidance when exercising any powers or duties to which the guidance is relevant. Details of the main activities undertaken to further the charity's purposes for the public benefit are noted earlier in this document. Fundraising Policy: Our Diocese is re8lStered with the Fundraising Regulator and is committed to the Fundraising Promise. We do not use any external fundraisers. We will commit to high standards, adhering to the Fundraising Code of Practice at all times, monitoring any person that raises funds on our behalf, and complying with the law as it applies to charities and fundraising. We will be clear, honest and open, in respect of what we will do with donations, how gifts can be made or amended, and the purpose of our Charity. We will be respectful of the rights and privacy of any donor. We will treat donors and the public fairly and reasonably, and not accept donations from those individuals who we believe may lack the capacity to make an informed decision We wlll hold ourselves accountable and responsible. en5urln8 that our resources are managed responsibly and that we have a complaints procedure in place. No complaints about fundraising activities were received durin8 the year. Reserves Policy: Unrestricted reserves, including parochial funds, totalled £51.4m. Restricted and endowment funds totalled £9.2m. Central Diocesan reserves are held to meet the future needs of the Diocese as a whole and absorb the impact of any material risk. Parochial reserves are held to meet the cost of future repairs and maintenance or major building projects which cannot be met out of expected income. The Diocese considers parish funds to be designated at parish level, for parish requirements. The policy of the Diocese is to maintain its reserves at a level that will provide the income necessary to assist it in implementing its future objectives, including but not limited to the increased cost of caring for the Sick and Retired Clergy of the Diocese. The Diocese alms to hold cash reserves of £IOm. Cash reserves as at 5 April 24 stood at £11.2m. Due to the size of the Diocese and the number of parishes within the Diocese, the Directors feel that this is a reasonable amount to cover expenditure for the period of one year. Should cash reserves fall below this, dependin8 on the projected cash flow, investments may be liquidated. Funds invested, and how they will be applied Restricted funds £8.3m The two largest funds are as follows: The Brentwood Ecclesiastical Education Fund (BEEF), a fund for the support and training of seminarians, was valued at £4.4m as at 5 April 2024. As at April 2024 there were five seminarians. When in seminary, each normally costing just under £50,000 p.a. During 2023/24, a legacy of £270,000 wa5 recognised which together with gain5 in investments led to a surplus for the period. The second largest restricted fund is the Sick and Retired Clergy Fund standing at £1.89m. The Diocese is planning how best to finance the support of priests due to retire over the next 10-15 years. 16

Designated funds £2.7m The largest designated fund is the General Education Fund which stand5 at £2.3m. With the development of a new diocesan vision and strategy for Education, the Trustee considers how best to utilise these funds. Permanent Endowment funds £lm The largest endowment fund is the Crowhurst legacy which stands at £0.5m - these funds are to be used to buy a suitable property for sick or retired priests. These funds have been used to purchase properties in order to meet the housing requirements of sick and retired priests. Unrestricted funds held by the centre £8.9m Non-parochial unrestricted funds are invested in the Sarasin Endowment Fund (formerly Alpha CIF for Endowments) in order to generate investment revenue which contributes to the work of the Curia. The fund value has decreased year on year. Financial Performance: With reference to the statement of financial activities in the financial statements. At the end of the financial year 2023-24 diocesan funds as a whole totalled £62.2m12023: £60.3m}. Income has increased from £16.7m in the prior year to £17,7m, A continued gradual recovery in donations income and other income streams such as hall rental continues and one parishes have applied and received grant income in order to help finance projects. Other income of £189k was generated primarily from the sale of one parish site (2023: £5k). As part of the Diocesan Renewal process, we are reviewing our material assets in order to decide how best to use them for the future. Expenditure increased from £16,7m in the previous year to £17.2m, the most significant driver being an increase in costs incurred for liturgical and catechetical purposes. Parlsh Reserves As at 5 April 2024, parish fixed assets totalled £18.4m12023: £16.6m) and free Parochial reserves £21.4m (2023: £22.5m). A large part of the increase in fixed asset value related to primarily to a project in one parish. Plans for the Future Our Diocesan Vision lon pages 3-12) details our plans for the future, the renewal process was relaunched in January 2024. Disclosure of inforrnation to auditors The Members of the Board of the Trustee who held office at the date of approval of this report confirm that, so far as they are each aware, there is no relevant audit information of which the charity's auditors are unaware. and: each member has taken all the steps that he or she ought to have taken to be aware of any relevant audit information and to establish that the Charitvs auditors are aware of that information 17

STATEMENT OF TRUSTEE'S RESPONSIBILITIES The Trustee is responsible for preparing the Trustee's Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Charity law requires the trustees to prepare financial statements for each financial year. Under that law the Trustee has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law}. Under charity law the Trustee must not approve the financial statements unless satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the Trustee is required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP 2019 {FRS 1021; make judgements and estimates that are reasonable and prudent,. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless It is inappropriate to presume that the charity will continue in operation. The Trustee is responsible for keeping proper accountin8 records that disc105e with reasonable accuracy at any time the financial position of the charity and enable it to ensure that the financial statements comply with the Charities Act 2011, the Charities {Account5 and Report Regulations) 2008 and the provisions of the trust deed. It is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Board of the Corporate Trustee orqmar 2025 and signed on its behalf by: Director 18

Reference and administrative details of the charity, sole trustee and advisers REFERENCE AND ADmINI￿RATivE DEtAILS OF THE CHARITY, SOLE TRUSTEE AND ADVISERS REGISTERED NAME Brentwood Roman Catholic Diocesan Trust CHARITY REGISTRAMON NUMBER 234092 SOLE TRUSTEE The Trust is adminisiered by the Brentwood Roman Catholic Diocese Trustee (Trust Corporarion- a company Incorporated 13tn March 1948, Company Registration 4508971 PRINCIPAL OFFICE AND AEGISTERED OFFICE OF THE SOLE TRUSTEE Cathedral House In8rave Road Brentwood Essex CMJS 8AT DIRECTORS OF THE SOLE TRUSTEE (known as Members ofthe Board? Thp Directors who have seroed durln6 ihe year, and since, are as follows.. Rt Rev Aldn Williams S.M. Rt Rev Mgr Kevin Hale VG Rt Rev Mgr Chrlstopher 8rooks Rev Patrick Daly (appointed 19 September 20241 Rpv Domlnic Howarrh Rev Slephon Myers Mr Eghosa Idchen lappoinlcd 21 November 20241 Mr Poter johnson Mr5 Nicolina Lyon Mrs Maureen Okoye DIOCESAN FINANaAL SECREfARY Anne-marle Stokkereir BANKERS HSOC PI.C enton Housp 85-89 N?w Londoii Vload Chèlmsford Essex CM2 L)PP SOLICITORS Stone Kln8 Boundary House 91 Chaiierhovsg Street Londoii LLIM 6HR AUDITORS Price Ilailey LLP Tenny£an House LambridRe 8iJ8irie5s Park Cambridge CB4 OW7. INVESTMENT ADVISORS Sarasin & Partners LLP Juxon House Iw st Paul'5 Churchyard London EC4M 8BU 19

INDEPENDENT AUDITORS REPORTTO THETRUSTEE OFTHE BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST Opinion We have audited the financial statements of The Brentwood Roman Catholic Diocesan Trust (the 'charity'l for the year ended 5 April 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cashflows and notes to the financial statements, includin8 significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements,. give a true and fair view of the State of the charlty's affalrs as at S April 2024, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended,. have been properly prepared in accordance wlth Unlted Kln8dom Generally Accepted Accounting Practice,, and have been prepared in accordance with the requirements of the Charities Act 2011. 8asls for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorf5 responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to going concern In auditing the financial statements, we have concluded that the tru5tee5' use of the goin8 concern basis of accountin8 in the preparation of the financlal statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast Significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorlsed for Issue. Our responsibllitles and the responsibilities of the trustees with respect to golng concern are descrlbed In the relevant sertions of this report. Other Informatlon The other information comprises the information included in the trustees, annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial Statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially incon515tent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material mi5Statement in the financial statements themselves. If. based on the work we have performed, we conclude thal there is a material mi55tatement of this other information, we are required to report that fact. We have nothing to report in this regard. 20

INDEPENDENT AUDITORS REPORT TO THE TRUSEE OF THE BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST

or having effect thereunder.

INDEPENDENT AUDITORS REPORTTO THE TRUSTEE OF THE BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST We reviewed systems and procedures to identify potential area5 of management override risk. In particular, we carried out testing a sample of journal entries and other adjustments for appropriateness. We reviewed key authorisation procedures and decision making processe5 for any unusual or one-off transaction5. We reviewed minutes of Trustee Board meetinBS and agreed the financial statement disclosures to underlying supporting documentation; We have made enquiries of management and officers of the charity regarding laws and regulations applicable to the organisation; We revlewed the risk managemenl processes and procedure5 in place. We have revlewed any correspondence with the Charity Commission and revlewed the procedures in place for the report of incident5 to the Trustee Board including serious incident reports of any such matter if necessary. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statement5 or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of the instances of non-compliance. The risk 15 a150 greater re8ardin8 irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, colluslon, omission or mlsrepresentation. A further description of our responsibilities is available on the Financlal Reporting Council's website at: htt www.fr .or udi nd-assurance Standards- uidance Standards-a This description forms part of our auditor's report. Use of our report Thi5 report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charltles (Accounts and Reports) Regulatlons 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustee5 as a body. for our audit work. for this report, or for the opinions we have formed. PRICE BAILEY LLP Chartered Accountants Statutory Auditors Tennyson House, Cambridge Business Park, Cambridge, CB4 OWZ Price Bailey LLP is eligible for appointment as auditor of the charity by virtue of ils eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. Date: 2 April 2025 22

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024 Unrestricted Funds Parochial Funds Restricted Endowment Funds Fund5 2024 Total 2023 Total Notes Restated Income from.. Donations and legacies Other trading activities Investment income Charitable Actlvltles Other income Surplus on sale of fixed assets 14,320 83,583 458,539 51,955 8,168,519 1,277,669 226,289 648,341 6,356,896 14,539.735 13,893,447 1,361,252 1,327,315 916,887 814,750 738,959 710,817 231,965 38,663 94 188,789 188,789 4,705 Total Income 608,397 10,509,607 6,627,524 94 17,745,622 16.751,034 Expenditure on: Raising funds 86,885 142,957 229,842 229,965 Charitable activities 2,404,257 8,376,506 6,160,382 16,941,145 16.466,862 Total Expenditure 2,491,142 8,519,463 6,160,382 17,170,987 16,696,827 Net income / lexpenditurel before other gains and losses 11.882,7451 1,990,144 467,142 94 574,635 54,207 Investment Gains/lLosse51 Unrealised 897,701 130,3531 439,764 129,0031 1,278,109 1644,3601 Net {expendlturel/lncome before transfers Transfers: From Parochial Funds Tolfrom Restritted Funds 1985,0441 1,959,791 906,906 128.9091 1,852,744 1590,1531 15 15 1,697,123 184,4221 11,697,123) 447,955 1363,5331 Net Movements on Funds 627,657 710,623 543,373 128,9091 1,852,744 1590,1531 Reconciliatlon of funds Funds brouEht forward Prior year adjustment 10,953,628 39,074, 168 7.509,056 1.836,913 995,978 58,532,830 60,959,896 1,836,913 Funds Carried Forward £11,581,285 39.784.791 £9,889,342 £967,069 £62,222,487 £60,369,743 The statement of financial activities include5 all 8ain5 and losses in the period. All operations are continuing and there are no discontinued operations in either year. The comparative year's Statement of Financial Activities is included in note 24. The notes form part of these financial statements 23

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST BALANCE SHEET AS AT 5 APRIL 2024 2024 2023 Notes FIXED ASSETS Restated Tangible fixed assets Investments 20.872,085 29,214,539 19,248,922 28,253,761 50,086,624 47,502,683 CURRENT ASSETS Debtors Cash at bank and in hand 2,217,965 11,185,948 1,888,898 11.612.327 13,403,913 13,501,225 CREDITORS: Amounts falling due Within one year io 11,268,050) {634,1651 NET CURRENT ASSETS 12,135,863 12,867,060 £62,222,487 £60,369,743 FUNDS Unrestricted - General DesiBnated 12 12 8,907,002 2,674,283 8,430,727 2,522,901 11,581,285 9,889,342 39,784,791 967,069 10.953,628 9,345,969 39,074,168 995,978 Restricted Parochial Permanent Endowment 13 13 13 £62,222,487 £60,369,743 The financial statements were approved and authorised for issue by the Trustee on al March 2025 and were signed below on its behalf by,. Director of the Brentwood Roman Catholic Diocese Trustee The note5 form part of these financial statements. 24

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST CASH FLOW STATEMENT FOR THE YEAR ENDED 5 APRIL 2024 2024 2023 Restated Net Cash flow from Operating Activities Net Income/lexpenditurel Depreclation Investment income and interest received Loss{surplusl on sale of fixed assets lincreasel/Decrease in debtors Increase/lDecreasel in creditors 574,635 479,979 1550,530) 1188,7891 1329,0671 636,885 54,207 418,465 1585,7991 1,019,620 {189,9021 623,113 716,591 Cash flows from Investlng a¢tivltles Investment income and interest received Proceeds from sale of investments Purchase of tangible fixed assets Proceeds from sale of tangible fixed assets 550,530 317,331 12, 129,5141 215,161 585,799 1331,8271 11,046,492> 253,972 1423,3791 970,563 Cash flows from financing activities Movements on loans to parishes from third Parties 13,0001 12501 Change in cash and cash equivalents in the year Cash and cash equ ivalents at the beginnin8 of the Year 1426,3791 970,313 11,612.327 10,642.014 Cash and cash equlvalents at the end of the year £11,185,948 £11,612,327 Analysis of changes in net debt Notes As at 614123 Restated 11,612,327 18,1)01,759 Cash flows Fair Movements Value As at 514124 Cash Cash Equivalents {426.3791 11.185,948 19.263,616 1,261,857 Loan5 and creditors falling due within one year Total io 1634,1651 1633.8851 11,268,050) £28,979.921 £11,060,264) £1,261,857 £29,181,514 The notes form part of these financial statements 25

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR ENDED 5 APRIL 2024 The financial statements have been prepared in accordance with all statutory requirements and with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland IFRS1021 (Effective l January 20191- Icharities SORP IFRS10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021. The particular accounting policies adopted are described below. The financial statements are prepared under the historical cost convention, as modified to include certain tangible f ixed assets at a valuation and fixed asset investments at market value. Figures are presented in sterling and rounded to the nearest pound. The Brentwood Roman Catholic Diocesan Trust meets the definition of a public benefit entity under FR5102 and was constltuted by Trust Deed in 1947. The Brentwood Ecclesiastical Education Funds IBEEFI is separately constituted under Trust Deed dated 11 July 1922 and registered with the Charity Commlssion under number 1067745. The Brentwood Diocesan Investment Pooled FLtnd 15 Separately re8lStered with the Charity Commission under number 1067742. Under S26161 of the Charities Act 1993, these three charlties which have the Same Trustee are permitted to be treated as a single entity for accounting purposes. The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities IAccounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view, This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 effective from l January 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from l April 2005 which has since been withdrawn. Preparatlon of accounts on a 8oln8 concern basls Having considered the cash reserves as at February 2025, future budgets and cash flows, the Trustee confirms that there are no material uncertainties about the entity's ability to continue as a going concern for the foreseeable future. The Directors of the Corporate Trustee have reviewed the cash reserves as February 2025 and the projected cash outflow over the next twelve months. In light of these considerations, the Trustees continue to adopt the going concern basis in preparing these financial statements. bl Legacles, Donatlons and Grants Legacies and donations are recognised when receivable or when the Diocese becomes legally entitled to them and receipt is probable, and they can reasonably be measured in financial terms. Receipts of property, investments or other glfts In klnd are Included at market value. Grants are recognlsed when the charity has entitlement and when the amount is measurable. Investment Income Investment income is accounted for as it accrues. d} Expendlture Costs of raising fund5 comprise those costs associated with attracting voluntary income and the management of the Charity's investments. C05t5 of charitable activities con51St of all expenditure direttly relating to the objects of the Charity. Support costs which cannot be directly a51ocated are apportioned between charitable activitie5 and governance c05t5 on the basis of the Trustee's estimate of the time spent on the relevant functions. Employment benefits, including holiday pay, are recognised in the period in which they are earned. Termination benefit5 are recognised in the period in which the decision is made and communicated to the relevant employeel51. Governance c05t5 include expenditure on management and compliance with constitutional and statutory requirements together with an allocation of 5UPPOrt cost5. Irrecoverable VAT is included with the category of expenses to which it relates. 26

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST STATEMENT OF ACCOUNTING POLICIES Icontinuedl FOR THE YEAR ENDED 5 APRIL 2024 el Tanglble Fixed Assets Prior to 6 April 1996 the cost of fixed assets was written off In the year of acqu isition and no comprehensive cost records were maintained. In order to arrive at a reasonable valuation of parish property, taking into account age, type, condition and life expectancy, the Trustee considered that insured values at 6 April 1997 should be discounted by 90% and in subsequent years be depreciated at 2Yo per annum. This valuation will not be updated in the future. Properties acquired after 6 April 1996 are capitalised at their actual cost of acquisition. The school properties (land and buildings) are vested in the name of the Diocesan Trustee. The Diocesan Trustee cannot take a unilateral decision to dispose of these properties. Disposal can only occur if the school governors and the Secretary of State for Education decide that all or part of a school site 15 no longer required for education. In most circumstances, where a disposal occur5, the Secretary of State or the local authority may be entitled to recoup grant. Although no rights of ownership vest in the school governing body, most other rlghts and obllgatlons, such as for the maintenance and repalr of the School and its fa¢lllties, are passed to the governors. The Trustees therefore con51der that, for the purposes of these financial statement5, the nature of thelr ownershlp Is that of a custodianship, however these properties have been purchased and written off in the Diocesan accounts for the amounts that the Diocese contributed in the past and the costs involved have not been Separately identified and are not considered material in the overall context of the accounts. The estimated cost of furniture, equipment and motor vehicles held at 6 April 1996 has been capitallsed In the financlal statements. Subsequent additions are capitalised at cost. Individual works of art, historical treasures and plate are not depreciated as they have extremely long Ilves and are considered to be worth preserving indefinitely, Depreciation is calcu lated by the straight Ilne method to write off the cost/value less anticipated resldual value, over the expected usefu I lives of assets as follow5'.- Freehold buildings additions since 6 April 1996 50 years 10 years Fixtures and fittin8S Furniture and equipment 1> £5,000} 5 years Motor vehicles 4 years The residual values of buildings held at 6 April 1996 are considered to be significantly higher than their carrying value In the accounts resulting In a nil value for depreciation charge. 27

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST ST AI EMENT OF ACCOUNTING POLICIES Icontinuedl FOR THE YEAR ENDED 5 APRIL 2024 f) School Building Programme The Diocese assists schools undertaking major projects by meeting the costs and claimi ng grants on behalf of the schools. These grants are netted off against the cost and only the net costs to the Diocese are included in the financial statements 81 Flnanclal Instruments The charity only has flnanclal assets and financial liabilities of a kind that qualify as baslc financial instruments, Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method, Fixed a55ets are recorded at depreciated historical cost or revaluation, Snvestments are recorded at their fair value which is the market value as disclosed in note 11 and all other asset5 and liabilitie5 are recorded at Cost which is their fair value. Investments Pooled investments are valued at fair value on the balance sheet date. Investment properties are valued at fair value and stated at a Trustee's valuation. Unrealised gainsllosses on investments are calculated as the difference between opening market value and closing market value after adjustin8 for additions and disposals during the year, less investment management and administration costs. Debtors Short term debtors are measured at transaction price, less any Impalrment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost usin8 the effective interest method, less any Impairment. J) Cash and cash equlvalents Cash is represented by cash in hand and deposits wlth flnanclal Institutlons repayable without notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. k) Credltors Creditors and provision5 are reco8nised where the charity has a present obligation resulting from a past event that will probably result in the transfer of fund5 to a third party and the amount due to Settle the obli8ation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 28

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST STATEMENT OF ACCOUNTING POLICIES Icontinuedl FOR THE YEAR ENDED S APRIL 2024 Fund accounting General funds These comprise the accumulated surplus or deficit from the Statement of Financial Activitie5 which is not re5trlcted nor designated funds. They are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity Designated Funds These funds are unrestrlcted funds earmarked by the Trustee for particular purposes. Details of the funds deslgnated by the Trustee are set out In note 12. Restricted Funds These funds are subject to restrictions imposed by the donor. Details of funds subject to legal Testriction are set out in note 13. Parochial Funds Each parish within the Dlocese of Brentwood is established and operates under the Code of Canon law, which mean5 that each parlsh ha5 separate canonical status. Therefore, parochial funds are treated as restricted funds in these accounts. The use of the parochial funds is the responsibility of the Parish Priest, Board of Directors of the Corporate Trustee, and the Bishop, 29

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST STATEMENT OF ACCOIJNTING POLICIES Icontinuedl FOR THE YEAR ENDED 5 APRIL 2024 Penslons All eligible staff af e members of an Aegon Eroup personal pension scheme to which the Charity makes contributions. Employee5 may contribute an additional amount. As a defined contribution scheme, no liability falls upon the Charity, 35 employer, to make good a shortfall of f unding other than contributions due. Some staff employed in the educational work ofthe Diocese are member5 of the Teacher's Pension Scheme I'TPS'I which is a defined benefits scheme. Diocesan contribution levels are determined by the TPS. The TPS is a multi- employer scheme, and, as there is insuffitient information available to use defined benefit accounting, the TPS is treated as a defined contribution scheme for accounting purposes and the contributions recognised in the period to which they relate. Significant judgements and estlmatlon uncertalnty In preparing these financial statements the trustees have had to make estimate5 and assumptions that affect the amounts recognised in these flnancial statements. Estimates and judgement5 are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances, Key areas subject to judgement and estimation are as follows.. Fixed asset depreciation, Judgement is applied when asslgning antlcipated average lives to the fixed assets of the charity. Investment properties are included at a value determined by at a desktop valuation conducted by a property management company, or with reference to similar properties in the area of each respective property. 30

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024 DONATIONS AND LEGACIES 2024 2023 Legacies Donations including plate collections Grants VASCA 12023 restated) 385.343 9,629,752 563,058 3,961,582 493.946 9,290,496 4,109,005 £14,539,735 £13,893,447 INCOME FROM TRADING AcfiviTIES Parish hall and other rents received Fundraising events Other 949,639 403,659 7,954 909,596 410,462 7,257 £1,361,252 £1,327,315 INVESTMENT INCOME Arising on quoted investments Income from investment properties Bank interest 550.530 232,620 133,737 583,289 229,608 1,853 £916,887 £814,750 INCOME FROM CHARITABLE ACTIVITIES Altar society and rep051tory sales Chaplaincies Retreat and course contributions Educational courses & fees 615,929 32,412 38,663 51,955 572,552 12,629 83,510 42,126 £738,959 £710,817 31

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST NOTES TO THE ACCOUNTS Icontinuedl FOR THE YEAR ENDED 5 APRIL 2024 Unrestricted Funds Parothial Funds Restrlcted Funds 2024 Total 2023 Total Ralslng Fund5 Fundraising and soclal Investment property repalrs and management Restated 124,473 105,492 142,957 142,957 86,885 86,885 86,885 142,957 229.842 229,965 Charltable A¢tlvltle$ Provlslon of worshlp Upkeep of buildlngs Depreciatlon Support costs allocated 108,663 3,563,280 339,878 11,268 3,683,211 339,878 247,969 3,591,761 278,361 235,183 225,795 22,174 334,458 3.903,158 33,442 4,271,058 4,105,305 Clergy and parlsh support Sick and retired clergv Clergy and church costs Education and tialnlng Parish administration Support costs allocated 214,064 812,375 156,984 214,064 4,420,846 169,413 737,296 433,945 271,043 4,071,515 111,730 693,485 411,571 191,328 12,429 3,417,143 737,296 395,141 38,804 598,898 4,154,439 1,222,227 5,975,564 5,559,344 P•storJl Care and Communlty Support Pastoral support Other vicarlates Retreat centres Local community centre Cathedral music Donation5 paid Support Costs allocated 980 55,B64 76,490 980 382,989 240,839 60,461 44,011 448,626 433,945 811 349,496 249,814 64,952 33,386 415,410 411,571 327,125 164,349 60,461 44,011 167,747 395,141 264,406 16,473 38,804 1,158,834 264,406 188,611 1,611,851 1.525.440 Schools pro8rafflme Building pro8ramme Vicariate for education Support cost5 allocated 24,884 174,285 112,898 54,503 4,168,020 536,996 11.086 4,247,407 711.281 123,984 4,412,601 746,583 117,589 312,067 54,503 4.716,102 5,082,672 5,276,773 2,404,257 8,376,506 6,160,382 16,941.145 16,466.862 Total Expendlture £2A91,142 £8,519,463 £6,160,382 £17.170.987 £16,696027 32

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST NOTES TO THE ACCOUNTS Icontinuedl FOR THE YEAR ENDED 5 APRIL 2024 EXPENDITURE Icontinuedl Analysis of expenditure for the comparative year: Unrestricted Pafochlal Funds Funds Restricted Funds 2023 Totsl Raisln£ Fund5 Fundraising and social Investment property management Restated Restated 124,473 105,492 124,473 repalrs and 105,492 105A92 124A73 229.965 Charltable Actlvltles Provi51on of worshlp Upkeep of building5 Depreciation Support costs allocated 89,494 3,500,717 278,361 1,550 3,591,761 278,361 235,183 206,729 28,454 296.223 3,779,078 30,004 4,105,305 Cler8y and par15h support Sick and retired cler8y Clergy and church costs Education and tralnlng Parish admlnistration Support costs allocated 271,043 720,462 102,240 271,043 4,071,515 111,730 693,485 411,571 185,174 9,490 3,165,879 693,485 361,775 49,796 556,439 3,859,364 1,143,541 5,559,344 Pastoral Care and Communlty support Pastoral SUPPDrt Other vicariates Retreat centres Local communlty centre Cathedral musl Donations paid Support ¢05ts allocated 811 811 349,496 249,814 64,952 33,386 415,410 411,571 339,605 155,148 64,952 33,386 157,101 361,776 9,891 94,666 250,037 8,272 49,795 1,111,968 250,037 163,435 1,525,440 Schools programme Bullding programme Ire5tatedl Vicariate for education Support costs allocated 7,500 235,878 103,363 94,692 4,310,409 510,705 14,226 4,412,601 746.583 117,589 346,741 94.692 4,835,340 5,276,773 2,311,371 7,983,171 6,172,320 16N66,862 Total Expenditure £2,416,863 £8,107,644 £6,172,320 £16,696.827 33

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 5 APRIL 2024 EXPENDITURE (continued) 2024 2023 Governance expenditure includes.. Current Auditors, remuneration Auditors, Other services included in professional fees Governance costs below include audit fees and legal advice received in respect of governance 45,700 45,700 Analysls and allocatlon of support costs: Provision of Worshlp Support of Cler8y Pastoral Care & Community Support Schools 2024 Total 2023 Programme Total Flnance Offl¢e Human Resources Curial Administration Chancery & Tribunal Men5al Rates. insurance & utilities Maintenance & repairs Health & Safety. Professional fees Governance Bank Interest Depreciation Other professlonal fees In prlor yr 49.906 16,836 17,007 19,299 14,494 87,338 29,462 29,762 33,773 25,364 87,337 29,463 29,762 33,773 25,364 24.954 8,418 8,5Q3 9,649 7,247 249,535 84,179 85.034 96.494 72,469 235,731 87,957 110,214 91,985 69,242 24,198 14,130 13,953 991 36,095 3,566 26,841 10,653 42,346 24,727 24,419 1,734 63,167 6,240 46,971 18,642 42,346 24,727 24,418 1,734 63,167 6.240 46.972 18,642 12,099 7,065 6,977 496 18,047 1,783 13,420 5,326 120,989 70,649 69,767 4,955 180,476 17.829 134,204 53,263 77,518 45.871 134.272 123,625 15,631 134,203 49,665 £421945 £_433,945 Analysis and allocatlon of support costs for the previous year: Provlslon Support of Cler8V Pa5torJl Care & Communlty support Schools 2023 Total of Wor5hlp Pro8Tamme Finance Office Human Resources Curial Administration Chancery & Tribunal Mensal Rates, insurance & utilities 47, 146 17,591 22,043 18,397 82,506 30,785 38,575 32.195 82,506 30,78S 38,575 32,195 23,573 8,796 11,021 9,198 235,731 87,957 110,214 91,985 69,242 77,518 45,871 13,848 15,504 9,174 24.235 27.131 16,055 24,235 27,131 16.055 6,924 7.752 4,587 Maintenance and repairs Professional fee5 Governance Bank Interest Depreciation Other 26,855 24,725 3,126 26,841 9,933 46,995 43.269 5,471 46,971 17,383 46.995 43,269 5,471 46,971 17,383 13,427 12,362 1,563 13,420 4,966 134.272 123,625 15,631 134,203 49,665 £411571 £1 175 914 34

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 5 APRIL 2024 sfAFF The average number of employees of the Diocese duringthe year and their aggregate emoluments are shown below: 2024 2023 Staff Costs: Wages and salaries Social security Pension costs Redundancy costs 2,560,725 178,299 247,910 1,428 2,471,970 176,335 252,419 1,000 £2,988,362 £2,901,724 2024 2023 Average Number of Employees: Administration Parish employees No No 41 139 45 136 181 180 Number of employees who earned £60,000 or more during the year were- £60,000 - £70,000 £70,001- £80,000 £80,001- £90,001 £ioo,000 - £iio,000 Employer contributions totalling £35,79412023 £ 44,572) were made to personal pension scheme5 on behalf of the above employees. Key management personnel received salary, benefits and pension contributions of £445,838 12023, £463,513) during the year. 35

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 5 APRIL 2024 TANGIBLE FIXED ASSETS Freehold Fixtures & Furniture & Auto* Bulldings Flttings Equipment mobiles Total VALUATION AND COST At 6 April 2023 Additions Disposals 27,315,176 1,887,t)43 140,572) 765.002 212.972 1,243,326 29,499 14,000 29.337.504 2.129,514 (40,572) At 5 April 2024 29,161,647 977,974 1,272,825 14,000 31,426,446 DEPRÉCIATION At 6Aprll 2023 Charge for year Disposals 8,504,772 358,937 114,2001 373,715 97,797 1,206,595 19,745 3,51)0 3,500 10,088,582 479,979 114,2001 At 5 April 2024 8,849,509 471,512 1,226,340 7,000 10,554,361 NET BOOK VALUE At 5 April 2024 £20,312,138 £506,462 £46,485 £7,000 £20,872,085 At 5 April 2023 £18,810,404 £391,287 £36,731 10,500 £19,248,922 The Charity also owns a number o15chools where the Trustee conslders that their ownership is that ol a cu5todian5hlp, The assets have a net boo value of Nl¥ havin8 been wrltlen off In thè past and not £apiialised. A list of the schools in the Oiocese is set out in the annual Oiocesan Directory. Apart from a small proportion uspd for mana8ement and adminlstration, all fixèd assets are used in direct furtherance of thE charltvs object5. 36

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST NOTES TO THE ACCOUNTS Icontinuedl FOR THE YEAR ENDED 5 APRIL 2024 INVESTMENTS 2024 2023 Investment properties stocks, shares and unit trusts Isee below) Subsidiary company (See note 161 9,950,920 10,252,000 19,263,617 18,001,759 £29,214,539 £28,253,761 Analysis of stocks, shares and unit trusts Income Units in Sarasin Alpha CIF 19,057,643 17,777,743 Cash awaiting investment 36,744 COIF Charitles Investment Fund Accumulation Unlts 205,974 187,272 £19,263,617 £18,001,759 Analysis of Investment Properties Opening Balance 10,252,000 9,628,799 Disp05als 1317,3311 Property revaluations carried out by Chartered Surveyors Closin8 Balance 16,251 623,201 £9,950,920 £10,252,000 Total investments at market value: Opening Balance 28,253,761 28,898,121 Disposals 1317,3311 Unrealised Ilossesl/gains during the year 1,278,109 1644,3601 Closing Balance £29,214.539 £28,253.761 All the above investments (other than cash and property) are quoted on a reco8ni5ed UK Stock Exchange or are valued by refe¥ence to investments listed on a feco8nised Stock Exchange. One property asset was valved by a registered RICS valuer at Cluttofts LLP during 22123. All other propertles were valued during 22123 by RICS valuers ai Strettons Ltd (Peter Costello MRICS and Philip Waterfield FRICSI. Properties have been re-indemed with reference to the 22123 valuatlons using ihe House Price Index lor ENgland as published on the govt.uk website. Land ha5 been revalued with reference to the Knight Frank f3rmland index. 37

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 5 APRIL 2024 DEBTORS 2024 2023 School related receivables 130,653 238,430 Gift Aid receivable 1,665,455 1,286,042 Parish receivables including legacy income and income from land sales 78,875 278,383 Other debtor5 and prepayments 342,982 86.043 £2,217,965 £1,888,898 10 CREDITORS 2024 2023 Amounts falling due wlthin one year.. Bank overdraft and other loans Loans to parishes from third parties 3,750 6,750 Trust funds to be paid out 11,057 10,980 Other creditors and accruals12023 restated) 1,253,243 616,435 £1,268,050 £634.165 The Diocese has a loan from the Cathedral and Choral Trust Fund la separate charity), which is interest free, and is repayable on a change of use of the Choir School {whether it is sold or notl, and the repayment is inf lation linked. The likelihood of a change of use of the Choir School is considered to be remote, therefore the loan has a fair value of £Nil. If the loan had become repayable at 5 April 2024, it would have had a value of £340,28512023 £333,303) 38

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST NOTES TO THE ACCOUNTS (Continuedl FOR THE YEAR ENDED 5 APRIL 2024 ii. FINANCIAL INSTRUMENTS 2024 2023 Financial assets measured at fair value Finantial assets measured by amortised cost 19,263,618 2,217,965 18,001,759 1,888,898 Flnancial liabilitie5 measured by amortlsed cost 1,268,050 634,165 Financial assets measured at fair value comprise listed investments. Financial assets measured at amortised c05t comprise grants due on school project5 and other debtors. Financial liabilitie5 measured at amortised cost comprise loans and other creditors. 39

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST NOTES TO I HE ACCOUNTS (Continued) FOR THE YEAR ENDED 5 APRIL 2024 12. UNRESTRICTED FUNDS Balance at Net IExpl/lncome Before Gains Gains1 Balance at 6 April 2023 (Losses) on Investments 5 April 2024 Transfers General Fund 8.430,727 11,911.0421 1,612,701 774,617 8.907.003 General Education Fund Parishes in Need Fund 2,185,228 337,673 20,234 8.063 104,422 18,662 2,309,884 364.398 Total Designated Funds 2,522,901 28,297 123,084 2,674,282 £10,953,628 £11,882,745) £1,612,701 £897,701 £11,581,285 For the comparative year: Balance at Net IExplllncome Before Gains Gain Balance at 6 April 2022 ILosse51 on Investments 5 April 2023 Transfers General Fund 9,606,453 11,930,357) 1,167,913 1413,282} 8,430,727 General Education Fund Parishes in Need Fund 2,255,683 348,924 35,775 7,734 1106,230} 118,985} 2,185,228 337,673 Total Designated Funds 2,604,607 43,509 1125,2151 2,522,901 £12,211,060 £11,886,8481 £1,167,913 £1538,4971 £10.953,628 General Education Fund This fund has been set up by the Trustee to generate income to meet the cost of building and improving schools in the Diocese. Transfers are made from the General Fund for this purpose. Parishes in Need Fund At its September 2013 meeting, the Finance Board agreed that the £196k received from the Catholic Church Insurance A550ciation as its membership award should be ring fenced to be used to provide financial and other support to Parishes defined as being "in need" 40

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST NOTES TO THE ACCOUNTS Icontinuedl FOR THE YEAR ENDED 5 APRIL 2024 13. RESTRICTED FUNDS Balance at Net IExpl/lncome Before G8inslllosse51 Balance at 6Aprll 5 April 2023 Gains Transfers Investments 2024 (Restatedl Walslngham House 15,8921 137.8281 143,7201 Sick and Retlred Clergy Fund 1,750,593 167,7501 131,200 67,146 1,881,189 Mensal Fund 612,049 151,9671 51,967 47,450 659,499 8EEF 3,839,114 257.695 13,6001 276,407 4,369,616 Vocatlons 92,425 5,951 98,376 VASCA 1,836,913 1206,4381 1,630,475 Mass Fund 198,491 11151 16,468 214,844 Parlsh Restrlcted Funds 233,427 656,972 1563,0581 327,341 Carltas Imerged wlth Soclal Welfafe Fund prevlously in Other Restricted) BRCDT Educatlon Fund 205,583 858 18,695 225,136 137,714 193,5261 44,188 other Restricted Funds 445,552 3,290 19,958 13,598 482,398 £9,345,969 £467,142 £1363,5331 £439,764 £9,889,342 Permanent Endowment Fund Crowhurst Le8acv 520,978 94 121,4031 499,669 Sullivo n Special Trust 475,000 17,6001 467,400 £995,978 £94 £129,003) £967,069 Parochial Funds £39,074,168 £1,990,144 £11,249,168) £130,353) £39,784,791 41

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 5 APRIL 2024 Restricted Funds for the comparative year.. Balance at Net IExplllncome Gain51110ssesl Balance at 6 Aprll Before On S Aprll 2022 Gain5 Transfers Investments 2023 Restated Restated Restated Walsingham House 5,264 111,1561 15,8921 Sick and Retired Clergy Fund 1,875,393 1206,7551 148,100 166,1451 1,750.593 Mensal Fund 655,294 149,5791 54,607 148,2731 612,049 BEEF 4,098,939 25,568 14,2001 1281,1931 3,839,114 Vocatlons 83,004 9,421 92,425 Mass Fund 224,454 19,2101 116,7531 J98,491 VASCA 2,038,317 1201,4041 1,836,913 Parish Restricted Funds 239,400 15.9731 233,427 Carltas (merged with Soclal Welfare Fund previously in Other Restricted) 255,549 130,94711 119,0191 205,583 BRCDT Education Fund 54,814 82,900 137,714 Other Restricted Funds 450,627 1,790 6,968 113,8331 445,552 9,981,OS5 £1395,3451 £205,475 £1445,2161 £9,345,969 Permanent Endowment Fund Crowhurst LeBacv 502,918 18,060 520,978 Sullivan Special Trust 455,739 19,261 475,000 £958,657 £37,321 £995,978 Parochial Funds 37.809,124 2.336,400 11,373,3881 302,032 39,074, 168 42

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 5 APRIL 2024 13. RESTRICTED FUND {continuedl Walsingham House This house 15 used for the provision of youth retreats. Slck and Retlred Clergy Fund Income Is used to help support fully retired, partially retired and slck priests. Transfers represent contributions to the fund from the Diocese. Men5al Fund Thls fund is used to support the Diocesan actlvities of the Bishop. Transfers represent contributions to the fund f rom the Dloce5e. BEEF IBrentwood Ecclesiastlcal Educatlon Fund) Thls fund meets the costs of tralning priests for the Dlocese. Transfers represent ¢ontrlbutions from collectlons on Its behalf from the parishes. Mass Fund Income recelved from donors is paid to prlests who celebrate masses for the donors. Transfers represent mass stlpends pald over to parishe5. Parlsh Restricted Funds These funds con515t of donations and other contributions to parlshes for speciflc purposes wlthln the parlsh. BRCDT Education Fund These funds are used to flnance the provision of education advisors to schoo15 wlthin the Dloce5e, Caritas This fund is used to promote and sUPPOrt Catholic Soclal Teaching. As such, the pre-existing Social Welfare Fund Ipreviously reported within Other Restricted Funds) has been incorporated into the Caritas Fund. Voluntary-Aided Schools Condition Allocation IVASCAI This fund represents the capital grant funding received by the Diocese from the DfE. The funding is allocated by the Trustee to schools to fund school capital projects. 43

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST NOTES TO THE ACCOUNTS Icontinuedl FOR THE YEAR ENDED 5 APRIL 2024 13. RESTRICTED FUND Icontinued} Other Re5trlcted Fund5 Other restrlcted funds consist of donations for specific purposes. Permanent Endowment Funds Crowhurst Legacv Thls fund consists of a property donated to the Diocese to be used as a home for Roman Catholic Priests suffering from sicknes5 or who have retired by reason of old aEe. The property may be sold but the proceeds must be invested in another property to be used for the some purposes. The property wa5 501d durln8 2(X)5. The proceeds have been invested with Saraslns until sultable feplacement property has been found. Sullivan Special Trust Thls fund comprlses an investment property the Sncome of whlch Is for the benefit of the parlsh prlest at Southend parlsh. 14. ALLOCATION OFTHE CHARITY AssErs Net Current Assets/ Fixed Assets Investments Total Unrestrlcted funds Parish funds Restricted fund5 Permanent Endowment fund 2,470,105 18,401,980 15,050,329 6,838,849 6,751,317 574,044 15,939,149) 14,543,962 3,138,025 393,025 11,581,285 39,784,791 9,889,342 967,069 Total Net Assets £20,872,085 £29,214,539 £12,135,863 £62,222,487 For the comparative year Net Current A55et51 Flxed Assets Investments Total Unrestricted funds Parish lunds Restflcted funds Permanent Endowment fund 2,604,310 16,642,212 2,400 14,146,116 6,869,201 6,318,066 920,378 15,796,798) 15,562,755 3,025,503 75,600 10,953,628 39,074,168 9,345,969 995,978 Total Net Assets £19,248,922 £28.253,761 E12,867,060 E60,369,743 44

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST NOTES TO THE ACCOIJNTS (Continued) FOR THE YEAR ENDED 5 APRIL 2024 15. TRANSFERS 2024 2oDa8 From/lTol Parochial Funds Diocesan Quota Other 1.738,954 141,8311 1,182,021 55,505 £1,697,123 £1,237,526 TollFroml Restrlcted Funds Permanent Endowment Restrlcted General Parochial Sick and Retlred Clergy Mensal Restricted fund5 spent on Other 140,800 1140,8001 1504,3331 184,4221 588,755 £1363,5331 £184,422) £447,955 For the comparative year.. Permanent Endowment Restricted General Parochial SSck and Retlred Clergy 140,800 1140,8001 Mensal Restricted funds spent on Other 64,675 169,6131 4,938 £205,475 £169,613) £1135,8621 45

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 5 APRIL 2024 16. RELATED PARTY ITRADING COMPANY) The Charlty beneficially owns 100% of the share capital of Brentwood Diocese ITradingl Llmited, company number 2571381. which manage5 buildinE contracts for the Diocese on a no profit/no loss basls. Consolidated accounts have not been prepared because the figures shown would not In the opinion of the Trustee, be materially different from those shown in the charitWs ccounls. Its trading results for the year ended 31 March 2024 were as follows.. 2024 2023 TuTnover Cost of Sales Profit on ordlnary activities Interest in Brentwood Diocese (Trading) Ltd £2 £2 Aggregate capital and reserves £2 £2 17. BRENTWOOO ROMAN CATHOLIC DIOCESE TRUSTEE The Charlty15 governed by the Board of Dlrectors of the Corporate Trustee, The Brentwood Catholic Diocese Trustee (company number 4508971. 18. TRANSACTIONS WITH DIRECTORS OF THE CORPORATE TRUSTEE A majority of the Dlrectors of the Corporate Trustee are 3150 parish priests in the Diocese. As priest5 they receive income from their parishes together with living accommodation, living expenses and reimbursement of costs incurred on behalf of their parish on the same basis as other prlests wlthln the Dlocese, They do not receive any remuneratlon or benefits from thelr trusteeshlp other than the purchase by the Diocese of tiustees, Indemnity insvrance providin8 cover of up to £5,000,000 during the year (the premium is paid as part of public liabllity insurancel. Travel costs totalling £NIL12023'. £NILI and consultancy costs in respect of courses arranged by the Vic3riate for Education in the amount of £1,200 12023 £1,200) were reimbursed to one12023- one) Director during the year. During the year, Directors of the Corporate Trustee donated £3,34012023 £3,375) in aggregate, to the Diocese. 19. COMMITMENTS 2024 2023 Authori5ed and contracted for 235,410 8,747 46

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 5 APRIL 2024 20. THIRD PARTY COLLECTIONS Parishes hold collections on behalf of third party charities. Because the Diocese is acting a5 agent for these charities, these collettions have been excluded from these financial statements. During the year £1,223.634 12023:£1,029,5711 was collected on behalf of third party charities. At 5 April 2024 £344.772 {2023 £183,070) was held on behalf of third party charities. 21. RELATED PARTY TRANSACTIONS Related Party transactions with the Directors of the Corporate Trustee are disclosed in Note 18 of these Accounts. There were no other related party transactions during the year12023, none). 22.PENSION COMMITMENTS The charity's academic and related staff belon8 to the Teachers, pension Scheme England and Wales. Thi5 is a multi- ernployer defined benefit scheme. The latest actuarlal valuation of the TPS related to the period ended 31 March 2020. There were no outstanding or prepaid contribulion5 at either the beginning or the end of the financial year. Teachers, Pension Scheme The Teachers, Pension Scheme ITPSI is a stalutory, unfunded, defined benefit scheme, governed by the Teachers, Pensions Regulations 2014. Membership 15 automatic for teachers. All teachers have the option to opt-out of the TPS following enrolment. The TPS is an unfunded scheme to which both the member and employer makes contrlbutiDn5, as a percentage of salary these contributions are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament. Valuation of the Teacher's Pension Scheme The Government Actuaryi Using normal actuarlal princlples, conducts a formal actuarial review of the TPS In accordance wlth the Publlc Service Pension5 (Valuations and Employer Cost Capl Dlrections 2014 published by HM Treasury every 4 years. The aim of the review is to ensure scheme costs are recognised and managed appropriately and the review specifies the level of future Contributions. Actuarial scheme valuations are dependeni on assumptions about the value of future cost5, design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out 35 at 31 March 2020. The valuation report was published by the Department for Education on 27 October 2023, with the SCAPE rate. set by H MT, applying a notional investment return based on 1.7% above the rate of CPI. The key elements of the valuation outcgme are: Employer contribution rates set at 28.68% of pensionable pay lincluding a 0.08% administration le￿1. This 15 an increase of 5% in employer contributions and the cost control result 15 such that no change in member benefits is needed. • Total Scheme liabilities Ipensions currently in payment and the estimated c05t of future benefits) for service to the effective date of £262,000 million and notional assets (estimated future contributions together with Ihe notional investment5 held at the valuation datel of £222,200 million, giving a notional past service deficit of £39.800 million The result of this valuation will be implemented from l April 2024.The next valuation result is due to be implemented from l April 2028 47

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST NOTES TO THE ACCOUNTS Icontinuedl FOR THE YEAR ENDED 5 APRIL 2024 A copy of the valuation report and supporting documentation is on the Teachers, Pensions website. Under the definitions set out in FRS 102, the TPS is an unfunded multi-employer pension scheme. The Charity is unable to identify its share of the underlying assets and liabilities of the plan. Accordingly, the Charity ha5 taken advantage of the exemption in FRS 102 and has accounted for its contributions to the scheme as if it were a defined contribution scheme. The Charity has set out above, the information available on the scheme, A copy of the latest valuation report can be found by following this link to the Teathers, Pension Scheme website.. em n-res as 48

BRENTWOOD ROMAN CATHOLIC DIOCESAN TRUST NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 5 APRIL 2024 23. STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023 Unrestrlcted Funds Parochial Funds Restrlcted Funds Endowment Funds 2023 Total Notes Restated Restated Income from: Donations and legacies Other trading activities Investment income Charitable Activitie5 Other income Surplus on Sale of fixed a55ets 36,504 91,758 359,627 42,126 8,354,313 1,235,557 264,288 585,181 5,502,630 13.893,447 1,327,315 814,750 710.817 190,835 83,510 4,70S 4,705 Total Income 530,015 10,444,044 5,776,975 16,751,034 Expenditure on., Raising funds 105,492 124,473 229,965 Charitable activities 2,311,371 7,983,171 6,172,320 16,466,862 Total Expenditure 2,416,863 8,107.644 6,172,320 16,696.827 11,886,848} 2,336,400 1395,3451 54,207 Investment Gains/lLossesl Unreali5ed 1538.497) 302,032 1445,2161 37,321 1644,3601 Net Income/lexpendlturel before transfers Transfers.. From Parochial Funds To/from Restricted Funds 12,425,345 2,638,432 1840,5611 37,321 1590,1531 15 15 1,237,526 169,6131 11,237,526) 1135,8621 205,475 Net Movements on Funds 11,257,432) 1,265,044 1635.0861 37,321 (590,1531 Reconclliatlon of funds Funds brought forward Prior year adjustment 12,211,060 37,809,124 9.981,055 958,657 60,959,896 Fund5 Carried Forward £10,953,628 39,074,168 £9,345,969 £995,978 £60,369.743 49