2020-12-31-accounts

-1.1 I)i()(.:L%L CLIFTON DIOCESE A Company Limited by Guarantee: Registered No. 10462076 ANNUAL REPORT and FINANCIAL STATEMENTS for the year ended 31" DECEMBER 2020

CLifroN DIOCESE Cbarity Number: 1170168 Comp#ny Number: 10462076 Registered Address: St. Ambrose Noith Road Leigh Woods Bristol BS8 3PW PROFESSIONAL ADVISERS Auditors: Haysmacintyre LLP 10 Queen Strect Place London EC4R IAG Bankers.. National Westtninster Bank PIC Commercial Office PO Box No 2702 3 Temple Back East Temple Quay Bristol BSI 9BW Investment Manager: Tilney Smith & Williamson Investment Management Portwall Place Poitwall Lane Bristol BSI 6NA Solicitors: Stone King LLP 13 Qiieen Squal'¢ Bath BAI 2HJ

CONTENTS PAGE Tiustees, Report 1-16 Strategic Rcport 17-23 Independent Auditor's Report 24-26 Statement of Financial Activities 28 Balance Sheet 29 Cash Flow Statement 30 Notes to the Financial Ststements 31-55

TRUSTEES, REPORT BISHOP'S VISION The Chui'ch of Clifton is called lo bc a people who belicve in Christ, who celebi'ale Christ and who live in Il)¢ way of Christ. The Cliurch is created by God to live, not for itself, but for others. to be a people who share in the mission of Christ to proclaim Ilie Kingdom and to make disciples, so that thc world will be transformed according to God's plan. Our Parishes and Communities shoiild be places where Christ is celebrated, shared, proclaimed and lived, where cvcryone is welcomed and valued and all have a sense of res]x)nsibility for tlic life of the community ai)d the world. commuNlOtI We are called to be disciples who not only know about Jesus but also come to know him in praycr. Our liturgies should be celebrated in siicli a way that Christ's word is heard, his presence known, and which are so connected to our lives that we joyfiilly take up the coinmand 'Go in peace glorifying the Lord by your life,. PRAYE Clifion Diocese A￿nTI&l Repor/ 2020

TRUSTEES, REPORT HISTORY OF THE DIOCESE OF CLIFfoN Until 31 December 2017 the Roman Catholic Diocese ofciifton was constituted as a Charity for Roman Catholi¢ Purposes by the Declaration ofTrusi dated 6 ' May 1934, ainended by a schcinc dated 19 August 1996 and further amended by a scheme dated 19 January 2007. All i'eporting was Inade under I'egistei'ed Charity No. 233977. On l January 2018 the assets and operations of the Diocese tran8f¢rred to this Charitable Company Limited by Guai'ant¢e, called Clifton Diocese. The Company number is 10462076 and the Charity number is 1170168. The Diirctors of the Charitable Company are the Trustees and this company carries on the activities of the Diocese. Tlie Diocese compriscs the Counties of Somerset, Glou¢estershire, Wiltshire and the City and County of Bristol. Clifton is largely a rural dioc¢se encompassing many towns and villages with several mediiim conLlI'bations and one major city. The Diocese serves its people through 107 parishes, 45 maintained s¢hools, 17 academies, 2 special schools and 5 independent schools and the Diocesan adminislralive office (Curia)- The principal objects of the charity are the advancement of the Roman Catholic religion, thc relief of poverty, the maintenance of the Roman Catholic Churches and the provision of Roman Catholic education within the Diocese of Clifton. ORGATr41SATIONAL STRUCTURE The primary routes of deliveiy of the Charitable Company's objectives are the parishes and schools within the Diocese. As part of ihe wider Catholic community the Diocese works collaboratively with other Dioceses in England and Wales and the Bishop is active internationally through his work with the Catholic Trust for England and Wales. The Diocesan administrative office supports the d¢liv¢ry of the objectivcs by co-ordination of Diocesan-wide progratnmes and ensures a cohesive approach to the administration of the Diocese in order to effectively support the parishes, which is paiticularly important due to increa5iiig statutory requirements in ai'eas such as property management and governance. Parishes There are approximately 170,000 people who identify as Catholi¢ within the Clifton Diocese. On a daily basis, parisliioners gather together in our Churches for worship within the parishes, ¢re&ting local Catholic communities which underpin the fonnation of their faith and deliver outreach to th¢ wider communities in which they are based. There arc 74 active priests {Dioccsan and Religioiis) within the Diocese who lead the parish communities, 5UPPOlted by 47 deacons many of whom combine their religious vocation with car¢er and Clifton Dioce&E AN￿11￿1 RÉpoi'i 2020

TRUSTEES, REPORT family responsibilities. In addition, there are many retired priests who coi)tinu¢ to pi'ovide support and ministry where needcd. The role of the laity within the Diocese is a central feature to the life of our Catholic cotnmunity and as a result there is a focus on thcir fomation, giowtli and spiritlial wellbeing. Our pastoral guidelines 'A Future Full of Hope, continue to provide opportunities to appirciate tlie importanc¢ and priority of ongoing fomation and the focus of the depaitment for Adult Education and Evangelisation is to facilitate various training events and provide i'esources to assistancc aiid siipport both the priests and laity in the Dio¢ese. The Coronavirus pandemic and th¢ COVID-19 conts'ol measures hav¢ had a significant impact on pai'ish lifc, with the closure of the ¢hiirches during two lockdown periods and the reduced Capacity for the celebrnlion of Masses once th¢ chiirclies wcrc allowed to reopen. Ongoing restrictions on the celebi'ation of other life events has also limited the provision of thc Sacraments. Mass Attendance and Sacraments 2020 695 63 684 98 9,336 2019 1,468 73 1,670 525 28,016 Baptisms Received into the Church First Holy Communions Confirmation Sunday Mass attendance However, where possible, parishes have continiied to reach out to their local communities through work in food banks, soup runs and support groiips for the elderly. The itnportance of thcsc activities has been higlilighted dui'ing the Coronavirus pandemic and parishes have worked collaboratively with other faith groups and local charities to provide support for individuals 2nd families during this difficult period. As lockdown restrictions were relaxcd, parish properties were reopened and made available to local corntnunity support group5. The Diocese and parishes have closc links with CAFOD (Catholic Agency for Overseas Development) and through this and othei. I'outes, there is strong support from across the Diocese for overseas work in areas of poverty, war and where natural disasters have taken place. There are also various initiatives undertaken to support refugees boili in the UK and ovcrseas. The 107 parishes comprising the Clifton Dio¢ese forni the core of our Catholic community. They are served by 59 secular priests and 15 priests froin orders and otllcr Inissions. The priest fiilfils the central role in the parish ministering sacraments, leading woi'ship and in widcr ministry to the faithful and the community at large. Clifton Diocese is also fortunate to be served by a team of 47 permanent deacons who are vital to the pastoral life of the Diocese. The deacons offer ministry lo the Church sometimes alongside, and woven into, a full working careei. and family life. In many parishes that share priest5, the deacon woi'ks under the dircction of the priest in the delivery of pastoral care. Clifton Diocese Anniial Reptpri 2020

TRUSTEES. REPORT The parishes ¢o-operate as 13 deaneries. This sts'ucturc facilitates local collaboration and provides a collegiate envii'onment for parish pi'iests. Each deanery ha5 a pastoral council pre5idcd ov¢r by a dean and containing representatives of each member parish. In turn, ¢a¢h deanery pastoral council is represented on the Diocesan Pastoral Council. The parishioners fund both the upkeep of the Church buildings and the a¢commodation ￿]d living Costs of their priests. In addition to this irsponsibility, they contribute through a parish share to the support of thc Dioccsan departmental strnctiire and a vast range of external charities and groups. As well as their financial contribution, the parishioners also contribute time and effort both to tl)e running of their parishes and to the wider comtnunity through groups providing local support and welfai'e services. SoJne of our parishes are operating in communities facing the challenges of unemployment and social deprivation and community biiilding is integral to the work of these parishes. Schools There are 54 Catholic Priinary, 7 Catholic secondary schools and a sixth form ¢ollege, 2 independent special schools and 5 other independeiit scl)ools within the Diocese. Diiring 2020, th¢ Diocese withdrew from the joii)tly opcraled secondary school with the Church of bngland. However, support will continue to be provided to the current Cohort of Catholic pupils by the ongoing funding of a Catholic Chaplin for the next five years. Ovei. 22,642 pupils are ¢ducated in our schools and whilst priority is given to Catholic applicants, approximately 480/0 of pupils are drawn from outside the Catliolic community. The schools at times may have to provide education in challenging cir¢umstances to very diverse Communities and this has been particularly dI￿l¢U1t during the Coronavirus pandemic with the challenges of providing remote learning during the lockdown period, whilst remaining open to support the schooling of lai'ge numbers of children of key workers. School resources liave also bcen under pressure as there have been a number of occasions when both teachers and pupils in our schools have bccn required to self-isolate. During this period the monitoring of the academic performance of schools has been modified to reflect thc unusual situations created by thc pandemic. However, the Diocesan Department for Schools and Collcgcs continues to work closely with the relevant Local Aiithoi'ities, thc Regional Schools Commissioner ai)d OFSI'ED to ensure that hi￿7 quality edu¢alion is delivered whilst maintaining the Catholic ethos of the schools. PUBLIC BEIYEFIT The Trust¢es confirm that they l)ave cotnpli¢d with the diity as defined in scction 17 of the Charities Act 2011, to hav¢ diie regard to public benefit guidance published by the Charity Commission, in determining the activities undertaken by the Chai'ity. Ln inaking this declaration, Ilie Trustccs consider the work of the Diocese in suppoiting our chai'itable objects and th¢ 5¢Ctions below elaborate further on the key areas of the benefit of our work to the public. Clifton Diocese Repoi't 2020

TRUSTEES, REPORT Access to our Cburches Our Churches are an important part of how our coinmuiiities define themselves and they arc a significant fealiire in many towns and cities. Most of these buildings are between 30 and 150 years old and somc are of historieal and architectuTrl importance. Some are listed by Historic England. We are guardians of a heritage that has been passed on to us and we will always do our best to pass thein on in good order to the next generation. All of them are subject to a need for constant maintenance and repair and this is a significant part of our overall expenditure. The closure of our Chur¢hes during the lockdown periods was a very difficult time for lo¢al Communities, paiticularly as thcy are used daily by parishioners and the wider community, not only to rec¢iv¢ the Sacraments, but as a place for quiet reflection and prayer. Ther¢foi'e, the agreement to allow the Churches to rcinaii) op¢n, and the celebration of public Masses to continue during the last lockdown p¢riod was gratefully IEceiv¢d. Help to the needy When we come to love of our neighbours, Jesus Christ was veiy clear that this did not just mean those who live next door lo us, but everyone that we share this beautiful God-given planet with. Our clergy and parishioners ￿ach out not just to their own meinbers, but also to all who may need their help. They can be found helping on soup runs and feeding Ihtr homeless, at niglit shelters and food banks, assisting disabled adults and ¢hildren, visiting the sick at hom¢, in a nursing home, or in Iiospilal, dealing with Fair Trade and a whole range of environmental issues, working for justice and peace at home and abroad, helping with asylum issues and counselling those with all sorts of problems. Finallyj raising awai'cncss of the plight ofthe marginalised in many parts of the world, and raising funds to give practical assistance to such areas and peoples. Co-ordinating collective fundraising efforts Foi. accounting purposes, the money that ehurchgoers raisc for third parties is not classified as church incomc. However, the reality is that witl)out the help and structure of the Church, these funds would not be raiscd. So, for the Church, charity is not a welfare activity which could be left to others, but an integral part of what it means to be a person of faith and a member of the Roman Catholic Church. Education The number of primary and secondary schools with which we arc involved makes us a significant figiii'e in tlie field of education. We are iiivolv¢d with as many, if not tnoi'c schools, than many local education uthorities. Whilst our primary thrust is to provid¢ places for Catholic childrcn, il is also Iriie that the schools have a significant number of pupils and staff from other Christian traditioi)s and othcr f&iths. We constantly encourage via our Curia, to make sure that all our schools are striving for excellencc for all pupils, and we value the contribution that these s¢hools make to their local communities. We always aim to have OLir schools as beacons of excellence, not only academically but also in faith and morals. In this way, we help to show our love of our neighbours. Clifion Dioc£se Anmiol Report 2020

TRUSTEES, REPORT PRINCIPAL RISKS AND UNCERTAINTIES The Trustees actively reviews the major sts'atcgic business and operational risks to which the Charitable Company is exposed and confirm that these have becn I'cviewed 2nd strategies and systems have been established to mitigate exposure to Ih¢s¢ i'isks. Each Head of Dcpartment and SulFComtnittee of the Board is required to monitor changes and devclop systems to mitigate risk whcnever possible. The key risks identified by the Board include.. Ongoing operational impa¢t of the coronavirus pandemi¢ Mitigations= Business Continuity Plan in place and invoked Rcgular meetings held with the Curia Heads of Departments to ensure key activities are complctcd and any issues highlighted Microsoft 365 softwai'c allows the Ciiria, Parish employees and volunteers to work from home effectively Streaming of daily Masses has been implcmented lo enable parishioners lo participate in the celebi'ation of Mass remotely Ongoing guidance is beiiig is5u¢d by the Bishops, Confer¢n¢e to ensure all appropriate mcasuies al'e being taken for sacramciits such as the Anointing of thc Sick Communication stream Set up between the Vicar Gcnerals and the Deans in order to highlight any issues and support welfare of the Clei'gy The Bishop's Coiincil is meeting on a r¢gular basis to review ongoing situation and receive feedback trom the Deaneries Executive Assistant role now in place to support operational activities Ongoing financial impact of the coronavirus pandemi¢ Mitigations.. PayPal donation buttons added to c.90 parish websites lo encourage donations online Parish¢s via their newsletters and websites also promoting the use of standing orders to make regular donations in lieu of the weekly ¢olle¢tions Parish and some Curia employ¢es plaeed on furloiigh and a c18im for 80Q/o of the asso¢ialed salary costs applied for undei. the Government Job R¢tention Scheme Wheir ¢mployees are self-isolatiiig duc to Covid-19 symptoms or their family members are experiencing symptoms, appropriate claitns are being made under SSP Scenario planning compl¢tcd, resulting in a review of all ¢apital expenditiire projects Curia budget reforecast undertaken with each category of expenditur¢ reviewed individually Parisli Share calculations for 2021 adjusted to i'¢fle¢t the reduelion in income during 2020 Effective itnplementation of Ilealth & Safety legislation Mitigations.. Online training modiiles available for employees and volunteers Dctailcd policies and procedures in plac¢, with regular review undertaken Risk assessmcnt and ¢hecklists completed for the reopening of the churches Return to work ch¢ckli5ts completed for all einployees returning to the Curia or parish offices following the lockdown Clifion DioC￿e Annii(71 Report 2020

TRUSTEES, REPORT Safcguarding of children and of vulnerable adults Mitigations.. Structured training programme in place for Clergy, Employees and Volunteers Diocesan Safeguai'ding teatn consist of experienced Safeguarding professionals National Catholic safegiiarding policics and piocedures are iinplemented New SafegLiai'ding CoTnmi1lee established as a sub-coinmittee of ihe Board of Trustees FUNDRAISING APPROACH Clifton Diocese is registered with the Fundraising Regulator and abides by th¢ Code of Fiindraising Practice. The majoi'ity of our fundi'aising activity is carried out witliiii parishes via direct Contact with parishioners. Parishioners are also contacted by email if they have provided consent, eithcr directly or indirectly, for example via the parish new51etter. Fundraising appeals ar¢ managed by the Diocese across all parishes. The Dio¢¢se does not employ commercial fundraisers oi. contael members of the public who are not parishioners. Our parishes, led by oui. priests, have a duty of car¢ lowai'd any viilnerable parishioners and we take great care lo ensure they al'e treated with dignity and respcct and in accordance willi our safeguarding policies. To dats no ¢omplaints abolit fundraising activities have been received by the Diocese. (2019.. Nil) GOVERNANCE AND MANAGEIVIEP4T Governanee The Di(Kesan Trustees led by the Bishop, in conjunction with the canonical bodies of the Diocese, are responsible for forniulating strategies which deliver the pastor&l work of the Diocese. They develop policics which ensure compliancc with ¢ivil legislation and ensure the dissemination of such policies throughout the Diocese, for examplc safeguarding 2nd health and safety. Through the Commilt¢e structure they ovcrs¢e 211 aspects of compliancc with relevant legislation including financial controls, anagement of Dioccsan pioperties and employmcnt issues. Tlie Bishop is appointed by the Pope as chi¢f shepherd, teacher and sanctifier of the Diocesan flock in the Diocese. Thc Bi51)op also has a role as the Icadcr of an organisation with 151 employees, assets of £46.8m and income of £7.9m. He is advised by a Bishop's Council of senior clergy and chairs the Boai'd of Trustees, fonned of both clergy and lay members. The Bishop is empow¢r¢d lo appoint and remov¢ all Trustees. The Trustee body is made up of clergy and lay faithful of the Dioces¢. There are 16 Trustee5 Of which the Bishop is th¢ Chaimian. The 6 other clerical Trustees al'e appoint¢d for their expeitise in parochial, spiritiial, pastoral and ¢anoni¢al expertise. The 9 lay Trustees are selected for their wide-ranging busin¢ss and educational expertise. Additional Trustees would be appointed if it was perceived that there was a significant skill or knowlcdgc gap on the boai'd. Trustees are appointed for a lem of three years rcn¢wable up to i tnaximum of nine years. Pei'i(Klically a skills audit is undertakcn, and skill gaps identifi¢d bearing in mind the current areas of work which provide specific challenges for the Diocese. Recruitment is ¢arri¢d out after advertising throughout the Catliolic community of the Diocese. Clifton Diocese Anp7ual Repth'i 2020

TRUSTEES, REPORT When the Charity Governance Code was published in July 2017, the TrustCC5 evaluated the Board's perfomian¢e against each principle of the Code and found that the Diocese met most of the outcomes. The Trustees adopted the Code and have aspired to meet all i'equircincnls. Following thc publication of the revised ve]sion in Decetnber 2020, a review is planned in order to coiisidcr any further i'equircin¢nls of th¢ updated Code. New Trustscs are given an induction which incliides a pack of information on the con5tilulion, govcrnanee and operation of ihc Diocese. All Tnistees are expe¢ted to be familiar with the central depaitm¢nts and the parishes of the Diocese. The Trustees are also encouraged to attend any courses which will suppoit the development of their role and in-house training sessions are providcd to update on any changes in legislation. The Board has established several comtnittees to look at specific aspects of the Charity and they report balk io the main Board of"I'i'ustees. The Bishop and employees of the Dioc¢se wish to acknowlcdge the contribution made by the Trustees and the support that they giv¢ to the Diocese in tcmjs of both skills and time. A list of the Trustees and the key committees of the Diocese arc set oiit below.. Charitable Conipany: Clifton Diocese Si Ambrose Noith Road Leigh Woods Bristol BS8 3PW Trustees of Clifton Diocese: Right Reverend Declan Lang, Bishop of Clifton (Chair) Rev. Mgr. Canon Bernard Massey VG (Vice Chair) (Moderator of the Curia) Rev. Mgr. Canon William Slattery VG Rev. Canon Richard D￿er R¢v. Canon John CutULinghain Rev. David Mills Rev. Paul White Mr Stephen McNulty Ms Ruth Fitzjohn Mrs Margaret Young Mrs Catherin¢ Hipkiss Dr Timothy Coyle Mr Michael Setter Mrs Michelle Morgan Dr Michael Tliompson Mr Richard Ashby (Appointed 1210512021) Clifion Diocese Repop'l 202LI

TRUSTEES, REPORT Minute Secretary to the Trustees: Mrs Paul8 Asquith Private Secretary to tho Bishop: Miss Alessia Dini SUB.COMLlItTfEES The membcrs of the nine main sub-cotnmittees are as follows (Trustees denoted with (T)). The Audi¢ Committee: Rev. m￿.. Canon Bernard Massey VG (T) (Cliair) Mr John Kyffin Mr Michael Setter (T) This Committee is made up of & minimum of two Trustees (Moderator of tlic Curia) and I lay member. Thc Chief Operating Officer and Diocesan Finai)cial Administrator as well as thc lead partner from our Aiiditors are in attendance. They meet twice p¢r year to focu5 on financial rewrting> control and governance. The Investment Committee: Ms Fiona Macpherson (Chaii.) Rev. Mgr. Canon Beinai'd Massey VG (T) Dr Timothy Coyle (T) Mr James Rodge13 Rev. Paul White (T) Mr Michacl Selter (T) Ms Ruth FitLlohn (T) (Appointed 1610412021) Ms Jenny Tozer (Appointed 1610412021) Ms R05amond Harris (Appoint¢d 1610412021) This comtnittee is made up of at least 2 Trustees and 2 lay professional members and meets with the lead member from our investment maiiager, curi'eiitly Tilney Smith & Williamson. The Diocesan Financial Administrator is in attcndance. It generally m¢¢ts twice per year but in volatile times has a mechanism in pla¢e to meet more frequently. The Investtnent Committee is a sub-committee of the Finan¢e Cominitte¢. Clifton Diocese Annual Repori 2020

TRUSTEES, REPORT The Clergy Welfare Committee: Rev. David Mills (T} (Chair) Rev. Canon Alan Finley Rev. Canon Bosco MacDonald Rev. Mgr. Canon Richard Twomey (Deceased 2010612021) R¢v. Colin Mason Rev. TIEvor Jones Thc Clergy Welfare Committce reports to the full Trustee Board via the HR Committee. This comtnittee deals with th¢ welfare of all clcrgy but particiilarly tl)ose who due to age, infirmity or other circumstances nced assistance. The Chief Operating Officer and Diocesan Financial Administrator are in attendance. The Property Con)mittee: Rev. Paul White (D (Chair) Rev. David Mills (T) (Resigned 1210512021) Rev. Mgr. Canon Bernard Massey VG (T) Mr Stephen McNulty (T) Mr Michael Settoi. (T) Mr Richard Ashby {T) (Ap￿Inted 0710712021) This committee is made up of Ti'ustees with the Head of Property Seivices, Chief Oper&ting Officer And the Diocesan Financial Administrator in attendance. Its role is to look at all property I'elated issues iii pai'ishes and to givc approvRI for small works (up to £300k) and where possible to make recomJnendation to the main Board for approval on works over this litnit. The Propeity Committeo generally m¢et$ 6 times a year. The Head of Property Services and the Diocesan Financial Administrator havc a further delegated responsibility per a schedule approved by Trustees. The HR Committee: Right Reverend Declan Lang> Bishop of Clifton {Chair) {T) Rev. Mgr. Canon Bei'nard Massey VG (T) Rev. Mgr. Canon William Slattery V(i (T) (Appointed 2910112021) Rev. David Mills (T) Mrs Catherine Hipkiss (T) This committee is composed of 5 Trustees as well as haviiig th¢ support of a professional ItR Advisor who is retained by the Diocese to give infonnation and advice as nccdcd. This cominittec dcals with 211 employee related issues in the Diocese. It is chaired by ihe Bishop with the Chief Operating OtTic¢r, the Executive Assistant to the Chief Oper&ting Ofyicer and the HR Advisor in attendance. Clifton DIoc￿e Anniial Report 2020 io

TRUSTEES, REPORT The Finance Committee: Rev. Mgr. Canon Bemard Massey VG (T) (Chair} Rev. Mgr. Canon Williatn Slatt¢ry VG (T) (Appointed 0310212021) Dr. Timothy Coyle (D Rev. David Mills (r) Mrs Ann Tarr This committe¢ is composed of 4 Triistees plus l other financial expert with the Chief Operating Officer and the Dioccsan Financial Administrator in attendance. Jts mle is to look at all finan¢¢ related issues in parishes and to givc approval for expenditure (up to £300k) and where possible to make rccomtn¢ndation to the main Boai'd for approval on expenditure over this limit. The Finance Cotnmiltee generally m¢cts 6 times a year. The Diocesan Financial Administrator has a further delegated responsibility per a schcdulc approved by Trustees. The Risk Committee: Mt3 Margaret Young (T) (Chair) Rev. Mgr. Canon Bernard Massey VG (T) Ms Ruth FitLTohn (T} Rev. Canon John Cunningham (T} This committee which is composed of 4 Trustees and the Chief Operating Officer in attendance meet al least twice a year to undertake a detailed review of risk management. The Health and Safety Committee: Rev. Paul While (D (Chair) Rev. David Mills ('I') (Resigned 1210512021) Rev. Mgi.. Canon Bernard Massey VG (T) Mrs Mai'garet Young (T) This committee is composed of 3 Trustccs with the Chief Operating Officer, the Diocesan Siirveyoi., th¢ Dio¢esan Financial Adtninistrator and the Healtli and Safety Co-ordinator in attendance. It meets on an ad ho¢ basis to review licalth and safety activities. The Safeguarding Cotllmittee: Mr Richard Ashby (T) (Chair) Rev David Mills (T) Ms Ruth Fitzjohn (T) Rev Paul Brandon Dr Maame Sarfo Mr Steve Livings Clifton Diocese Repori 2020 Ji

TRUSTEES, REPORT This new coJnmittee was formed on 2 July 2021 following th¢ r¢¢ominendations of the independent review of saf¢guarding proc¢dures in England in Wales and it replaccs the prcvious Safegiiarding Commission. Tlie coinmittee is coinposcd of 3 Ti'ustees, a clergy repi'cscntativc with saceguarding expci'ienLe and two independent safeguarding experts. It will gcnerally meet 6 times a year and th¢ Chief Operating Officer and Diocesan SafeguardiIig Coordinatoi. will be in att¢nd2nce. Its role is to review the perfoiinance of the Diocese in safeguarding matters in order to cnsui'e that it is operating within the standards, policies and procedures of the Catholie Safeguarding Standai'ds Agency. Clifton Catholie Dioeesan Education Foundation / Academy Project Board This is a company limited by guarantee and the Board of Directors is comprised of the TrLlStees willi ¢ducation experience, the Chief Operating Officer, the Director of Schools & Colleges, the Schools Partnership Officer and an independent educational expcrt. Following a strategic review its role now focuses on two keys areas, holding the diocesan academies to account under its remit as a corporate member and to considci. and approve applications for diocesan schools to conv¢rt into multi academy tru5t5. The Board generally meets 6 times a year. Collncil of Priests The priests in this body m¢et al least Iwice per year to advise and discuss with the Bishop a variety of pastoral issues that are relevant to th¢ Dio¢¢se. Recent matters discusscd include how individual deaneries and parishes in communion will operatc in future years as a number of the parish pricsls are reaching retirement age. Dioeesan Pastoral Council This council is made up of a mixture of lay and clerical members from around the Diocese, together with some staff from the central departments. It me¢ls as required to look at stt7tegic planning to deal with the pastoi'al needs of diverse communities that make up our parishes and deaneries. Bi$hop?s Couneil This confidential council is composed of the 2 Vicars General and the Judicial Vicar (all of whom are Trustees) who meet will) thc Bishop to discuss any aspects of the life of the Diocese that the Bishop wishes to air with them. It generally illc¢ts monthly and the Chief Operating OtTicer is in attendance. Pastoral MaDagemen¢ The Bishop is supported in his pastoral leadership of the Diocese by two Vicars General, one of whom also acls as Modei'atoi. of the Curia and pi'ovides a lird( between th¢ civil 2nd pastoral direction of the Diocese. The Bishop is advis￿ by the Bishop's Colincil and the Chaptcr of Canons. 'fhe Council of Priests provides the link to the parish pi'iesls and deaneries. Clifion Diocese Repori 2020 12

TRUSTEES. REPORT The Bishop also iindertakes parish visitations, visit5 to schools and presides over Diocesan events such as the annual Diocesan Day. Tlie Triislees lliid Comniillees ure.siipporledin ilieir ivork by ilie Ciirirt. The CLiria is comprised of several departments that work together to provide a robust and effective administrative stl'Licttire to support the parishes and schools and provide day to day support for the delivery of pastoi'al aims. SENIOR MANAGEMENT TEAM Mrs Lyn Muriay- Chief Operating Officer Mrs Colleen Collett- Director of S¢hools and Colleges Ms Rebecca Cawsey- S&f¢guai'ding Coordinator Miss Jan¢t Parkcr- Dioccsan E4inancial Administrator l Head of Fii)ance (Leave of absence 0910912020) Mrs Rachael Lawes- Interim Dioc¢san Financial Administrator l Head of Finance (Appointed 0110912020) Mr Derek Sa]mon- Head of Property Services (Resigned 3010912020) Mrs Jo Long- Head of Property Services (Appointed 0110212021) Miss Sarah Adams- Director of Adult Education and Evangelisation Mr Philip Gibbons- Communications Officer Remuneration Policy Remuneration for the senior management team is deterniined by the HR Committee by benchmarking roles against similar positions in othei. Dioceses and the charity sector, with the aim lo atti'act, retain and motivate a talented leadership team wl)o are focused on supporting delivery of the Di(Kesan mission. DIOCESAN DEPARTMENTS Adult Education & Evangelisation This leam supports and promotes all aspects of Catholic education and foiTnation. It work5 to protnote an understanding and itnplementation of the General Direcloiy for Catechesis and the Rite of Christian Initiation of Adults as the m(Idel for all sacramental preparation. li also provides support in areas of marriage & family life and youth ministry. Th¢ Dio¢esan Liturgy Office. working within the department also provides fomiation. support and development of the liturgical life of parishes. Safeguarding The Safegiiarding team works for the protection and safety of all and specifically for children and vulnerable adults with whom the Diocese has contact or for whom it has responsibility. The team also oversees the safe reeruitment and s&feguarding training for Clergy, employees and volunteers. Clifton DIoC￿eAnp￿al Repori 2020 13

TRUSTEES, REPORT School and Colleges This department both advises the Trustees of all aspects of education and works closely with the Catholi¢ staff of the school and colleges of the Dioccsc. It also has a servi¢e level agreement with schools to provide a range of services to each institution. Property Services This department works Ix)th with the central Curial offi¢es and the individual parishes to deal with the vast range of issues associated with churches and propertics, such as health & safety requirements to ensure cotnpliance with law. The team also supports with issues rclatiiig to diwesan owned school buildings and land and oversees facilities management for all curia properties. Finance This department deals with a multitude of financial and adminislralive aspects of the work of the Diocese. It not only Co-ordinates the central finances and budgets of the Diocese but it also ¢ollecls all parish shares and deals with all aspects of Gift Aided donations and salaries for the individual parishes and their staff. Commllnieations The Comtnunications Offic¢ works to positively promote the activities and teachings of the Church using all forn)s of media, including thc diocesan website, social and print media. PAIUSHES The 107 parishes in the Diocese have the day to day adtninistralion of the property and assets delegatsd to the parish pi'iesls who are advised by their parish finance comtnitt¢e. VOLUNTEERS Over 3,1)00 volunteers help in all areas of the work of the Diocese, particularly within the parish environment and without their assistance the parishes could not function. The Trustees, Clergy and our employees are very gratefvl to them for the titne and commitment they give to support the &ctivities of the Diocese. Certain volunteers siich as Treasurers, School Governors and Parish Safeguarding Representatives are required to attend regularly training courses and briefing so that they are properly equipped for their roles in Ihe Diocese. Clifton Diocesg Anniial Report 2020 14

TRUSTEES, REPORT REI LATED PARTIES Subsidiary Charities The following charities, income, expenditure and assets have been included in the finaiicial statements of Clifton Diocese, as the Charitsble Cotnpany is the sole Corporate TNstee. The amounts are Thot material and therefore w¢ have not presented entity-only financial statements= CHARITY NATr REGISTERED F40. Clifton Catholic Diocesan Ttustees Registered 1170168-7 Edith Maiy YouT)g Memorial Fund 1170168-1 Elizabeth Lady Hci'beit foundation 1170168-2 Hcavcn's Roinan Catholic Orphanag¢ for Girls 1170168-3 Lady Ariindcll of Wai'dour Beqiiest for Training of Students 1170168-4 for the Roinan Catholic Pricsthood The following ¢harities have not been activated.. St Francis of Assisi Roman Catholic Church, Nailsea Clifton Diocesan Common Investment Fund The Diocese of Clifton Education Trust 1170168-5 1170168-6 313215 STATEMENT OF TRUSTEES, RESPONStBILITIKS W¢ are responsible for pi'eparing the Trustees, Report, the Strategic Report and the financial statements in accordance with applicable law and regulations. Company law requires that we prepare the financial statements for each financial year. Under that law, we have elected to prepare the financial statements in accordan¢¢ with United Kingdom Generally Accept¢d Accounting Praclice (United Kingdom Accounting Standards and applicable law). Under company law wc must not approve the financial statements iinless we are satisfied Ihat they give a true aiid fair view of the state of affairs of the Charitablc Company and of the profit or loss of the Charitable Coinpany for that period. In prcparing these financial statcm¢nls, we are reqiiired to.. select suitable accounting policies and th¢n apply them consistently. make judgetnents and estimates thal are reasonable and prudent. slate whether applicablc UK accounling standards have been followed, subject to any material depaitures disclosed and explaincd in the financial statements. and prepare the financial statements on the going concern basis unless it is inappropriate to prcsuEne that the Charitable Company will continue in business. Wc air responsible for keeping proper a¢counting records that are sufficient to show and explain the Charitable Company's transactions and disclose with reasonable accuracy at any time the financial position of the Chai'itable Company and enable us to ensiire that the financial statements comply with Clifton DIoc￿e Annual Repoi'i 2020 15

TRUSTEES, REPORT the Companies Act 2006. We are also responsible for safeguarding the assets of th¢ Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and othei. irregularities. We al'e responsible forthe maintenance and integrity ofthe corporale and financial inforn)ation included on the Charitable Cotnpany's website. Legislation in the United Kingdotn governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. In so far as we are aware: There is no relevant audit infomiation of which the ch&i'itable company'5 auditor is unaware. and The Triistees have takcn all steps that they ought to have taken to make themselves aware of any relevant audit inforn)ation and to establish that the auditor is aware of that information. Clifiot7 Diocese Annual Report 202 16

STRATEGIC REPORT STRATEGIC REPORT ACTIvrrIES AND ACHtEVEMENTS DURING THE YEAR The Diocese's key objectives to enhance the work aiid support the strategy of the Diocese in 2020 was impacted by the Coronavirus pandemic and as a result there was a significant focus on supporting the parishes during this difficlilt time. It was necessary to re-prioritise activities in order to work effectively and the following was achieved.. Ongoing guidance and support provided to parishes following the closure of places of worship dui'ing the l(xkdown periods. This iiicluded the initial provision of PPE and cleaiiii)g equipinent and detailed risk assessments to support the safe reopening of Churches for private prayer and thc celebration of public Masses. Due to the loss of parish incoine following the closui'e of the Churclics, and reduced attendancc as a resiilt of capacity I'estrictions on¢e public Masses recommenced. ongoing finaiicial support was provided to thc parishes by a reduction in the parish share contributions. The Job Retention Scheme ha5 been utilis¢d to support parish employees who w¢r¢ iinable to work due to the elosed of the Chiirches and parish facilities. Online paym¢nl fun¢tionality was implemented on over ninety parish websites and parishes pioinotcd th¢ use of standing order payments. Pi'ovision of ti'ainiiig foi. Calechists by the Department of Adult Education and Evangelisation switched to online learning and completion in linc with thc original schedule. Live stream of Masses implemented in over thirty parishes within th¢ Diocese, which enabled parishioners to participat¢ in the Liturgy when they were unable to attend in person. Parishes without the live streaining functionality actively promoted streaming at the Cathedral Church via their own websites and newsletters. Online Governors briefings were provided to our dio¢esan schools by the Department of Schools & Colleges with attendance significantly higher than face to face meetings. The Diocesan website utilised to pi'ovide resources for parishes and individuals during the Coronavirus pandemic including video reflections and prayers. Implementation of an online case m8n&gement system for safeguarding. Clergy Support One scminarian was ordained a Priest in July and will start as Assistant Priest in a P￿.ish dui'ing Scpl¢mber. There is currcntly OTr¢ remaining seminarian in fonnation for the Diocese, who was ordinaled Deacon in July. Due to th¢ closure of St John's Seininary in Wonersh, he will move to Allan Hall Scminary in London for his final year. There are a couple of potential candidates thal are considering the priesthood and they are being supw)rted ill their discernment by the Diocesan Director of Vocations. There are elcvcn students in fomation for the Permanent Diaconate, with a further three potentially joining the programine in September 2021. Clifion Diocese Anniial Report 2020 17

STRATEGIC REPORT Throughout the year three Diocesan priests celebrated theii. ordination jubilees, with one pi'iest clebrating his Golden Jubilee of fify years as a priest. Education Implementation of the Diocesan School Strategy for all schools to be in a Multi-A¢ademy Trust or Academy ready by 2021 contiiiucs to a key prioi'ity for the Dioc¢sc and in order to support this activity, the Schools Partnership Officer role was made a permanent position in February 2020. The seven s¢hool partnei'ships continue to complete the due diligcnce exercise in preparation lo commit to the fom)al process of joining a MAT at the appropi'iate time. However, two of the partnerships have piogi'essed sufficiently with Ihcir planning to enable ihein to be accepted on the Dcpartment of F.ducalion's pilot scheme, which is supporting schools with the fom)ation of Multi-Acad¢iDy 'friists. Under the scheme, govei'nincnt funding has been provided to cov¢r legal and project Inanagement ¢osls incurred as part of the transfer of individual schools into the ncw'l'rusts. As the government directive continues to focus on Miilti-Acad¢my Trust structtiiES going forward, r¢gular meetings al'e held with the Regional Schools Cotnmissioner and the Rcgioiial Delivery Dire¢lorate to siipport the ongoiiig engagement with the sch(K)I partn¢rships. Pastoral and Formation Activities The Coronavirus restrictions in place across England over the last twelve tnonths have had an impact on pastoi'al and foiination activities. Anniial cvcnts siich as the Diocesan Day and the pilgrimages to Lourdes and the Shrine of Oui. Lady iii Glastonbury have all been cancellcd. It was also necessary to cancel the planned 'ln the Footsteps of St Ignatius, pilgrimage to Spain. Despite the constraints on groups meeting together, ongoing foiination for the laily has continued remotely and thc new Pastoral Ministry Course was laiinched diiring the year. Five people have been accepted on the course, which is liiiktd to the University of Loyola in Chicago, with the aim of developing their pastoral skills, understanding and confidence in supporting our parishes. Catechetical fomiation has also contiiiued remotely with an increased number of students joining the course. Th¢ use of Microsoft Teams and the discussionlchat room functionality has enabled participants to engage with ea¢h other to share experiences. Due to thc wide geographical Sp￿ad of th¢ Diocese the use of online meetings has encouraged some individuals to parli¢ipate in courses as the need to travel to venucs lias been removed. Face to face mectings will resume when possible, however, & blended approach will b¢ adopted with remote sessions continuing lo be facilitated as appropriate. Property The Diocese was aW￿.ded two grant5 from the Historic England Cultural Recovery Fund to support the fiinding of significant capital repairs proj￿1 on Grade l and Gl'ade Il listed biiildings where thc work had 51allcd due to the Coronaviius pandemic. St Mary's Church. a Grade J1* listed building in Cricklade received a grant of £64,500 towards th¢ costs of undei'pinning to north wall of the Chiirch and construction of a new biirtress. Oui. Lady of the Annunciation in Woodchester, a Grade I listed building. wa5 awarded £58,200 for urgcnt repairs to the external walls. The associated works on both properties have now been completed. Clifton Diocese Anniiul Repoi'l 2020 J8

STRATEGIC REPORT The refiirbishment of the Catholic Chaplaincy for tl)e Universities of Bristol commenced in Mai'ch 2021 and the projcct is scheduled foi. coinpletion by May 2022. It is planned for the residential facililat¢S to be available for students from the 2022123 academic year. Work has also commenced on the refvrbishment and repairs of St Bernadette's, a Grade 11 listed biiilding in Whitchiirch, Bristol. The project includes repairs to the iconic roof structure, replacement of glazing units, the provision of disabled access and an upgraded energy efficient heating system. The building works are due to be completed in De¢ember 2021. To support health atkd safety cotnpliance throughout the Diocese an online managetnent system has bcen implemented. The system provides cach parish with the functionality to maintain records such as elevlri¢al eertificates, gas safety ceitifiLales and legionella insp￿tionS in a centi'al plaee. An addili()nal function is a diary management systetn which highlights wl)en new inspections are required. Finaiieial Impact of the Coronavirus pandemie Following the closui'e of our chui'ches in March 2020 financial support has been provided to the parishes by a r¢du¢lion in parish shar¢ conli'ibulions. 'I'li¢ total support providcd duriiig the y¢ar was £673k. As the Churches remained closed through Easlei., financial support totalling £123k was also provided to Diocesan parish priests in lieu of the annual Easter offcrings. Witli the continuing impact of the pandeJnic on oui. pai'ishcs it was agiEed to provide ongoing financial support throughout 2021. Adjusted pai'ish share contribiilions for the year have been Calculated and in order to fund the reduced incotnc from these adjustsnents it was agreed to drawdown £lm from restricted and designaled ttserves to support the fvnding of the Curia operational budget for 2021. In spite of the ongoing need to use reserves during the pandemic, the Trustees are confident that the ongoing support for the parishes can be provided, and the Diocese continues to be a going concern. Financial risk management objeetives As dcscribcd in the Triist¢e5' report, the Charitable Company has cstablished a risk and finan¢ial anagement framework whose primaiy objectives are to pi'otect the Charitable Company from events that liinder the achievement of the Charitable Company'% objectives. The Charitable Company has no opcrations outside of the UK and is not exposed to movements in exchange rates, and therefore does not enter into transactions with derivative instruments. Cash flow and liquidity risk is eovered by forcoasting 2nd management of cash. The Chai'itable Company has no significant individual debtors and therefore limited Li'edil i'isk. Key are￿ ofwork for the futllre Ongoing review of the five-year plan for Curia expenditure and Free Reserves, with consideration given to targeted fundraising activities if n¢¢essary Continue to encourdge all vocations within the Diocese and work with the Vocations team to bring forward candidates for the priesthood A¢tively supp)It the pilot proje¢t with the Department of Education for the fomation of the first two Multi Academy Trusts within the Dio¢ese Ongoing review of parish and deaneries structures with a particular focus on clergy resource Clifton Diocese Annual Repoi'l 2020

STRATEGIC REPORT As COVID-19 measure5 are ttlaxed, support oui. Diocesan communities to focus on three key areas.. Responding to the Cry of thc Poor Rcsponding to the Cry of thc Earth Cclcbraling good Liturgy that engages with people's expei'i¢nc¢s Promote contactless giving and the use of standing orders to generate income for parishes Continuc lo ulilise technology as a medium for evangelisation by the provision of resour¢es on the Diocesan website and Ihc availability of online formation eoiirses FINANCIAL REPORT FOR THE YEAR ENDED 31 DEI CEMBEI R 2020 The Financial Statements have been prepared in accordan¢¢ with the principlcs contained in the Statement of Recommended Practice for Charities (SORP 2015) (Second Edition, effective l January 2019)- issued by the Chai'ity Commissioners for England and Wales and in accordance with the accounting policies set out in note I to the Financial Statements. The Financial Statements do not include any value for school properties. Trustees consider that no meaningful value can be attributed to these assets, since they are not used directly by the Charitable Company. They do not generate income and cannot be disposed of in the open market or put to alternative iise while such occupation, which may be indefinite, contiiiues. Curial Funds Curial incoinc includes the parish share, which is a contribution from the Diocesan parishes towards the running costs of t]1¢ Curia. It is presented in the published accounts as a'lransfer between funds" Total Curial in¢ome was lower in 2020 at £9l4k compared to £1,488k in 2019. as a one-off property sale of £540k during 2019 increased the income for the year. There was an overdll gain of £391k on fixed asset investinents iii 2020 compai'ed to a gain of £996k in 2019. Included in the 2020 investment gain was a £136k inciEase in tl)e revaluation of investincnt properties (nil in 2019). The investment portfolio generated investment income of £212k in 2020 (2019.. £247k). Total Curial expenditure was £2,812k (2019.. £4,131k). Tliere ar¢ a number of reasons for the decrease. 2020 saw less expenditure on buildiiig costs and professional fcc5 in relation to Ciirial tnanaged chuirh projects. More expeiiditure in 2019 on siipport for school improvements in specific Diocesan schools. Savings from holding vacancies in 2020 É￿d lower expenditure in 2020 on genci'al operational costs du¢ to reduced face to face &ctivity during the pandemic. Overall, Curial Funds decreased in the year by £465k {2019: increase of £120k). Total Ciirial Funds at 3 l December 2020 were £18,134k (2019.. £18,599k) of which £12,723k (2019.. £13,393k) were unrestricted. Fixed assets account for £1,075k (2019: £978k) of total Curial Funds of which £841k (2019: £735k) is unreslri¢l¢d. Total Curial Funds include £635k (2019: £912k) net balances due from pai'ishes. CliftoFJ Diocese Repoi't 2020 20

STRATEGIC REPORT Paroehial Fund5 Thc unrestricted offertory, donations and legaeies income for the year was £4,490k (2019.. £6,283k). Income from ¢hai'itable activities, including fundraising income, was £1,457k (2019.. £2,309k). The main reason for the ttduction in incomc is due to ¢hiirches being closed or opened witli reduced ¢apacity diiring the year due to the pandemic. The charitable expenditurc by the parishes was lower in 2020 at £6.Om (2019.. £7.4m). This was due tnainly to churches being closed for part of the year and parish employees being placed on fyrjou￿, resuliiiig in Irduced operating costs. Overall Pai'ish Funds incrca5cd in the year by £125k (2019.. £1. I k). Total Parish Funds at 31 December 2020 amountcd to £28,687k {2019.. £28,562k) of which £27,717k (2019.. £27,607k) was U[￿¢StrICted. Freehold land aiid buildings account for £14,225k (2019-. £14,820k) of total Parish Funds of which all are unrestricted. INVESTIVIENT POWERS The Trust Decd auihorises the Trustees to tnake and hold investments using the ￿ndS of the Charitabl¢ Company without any i'estrictions, according to the law for the time being in force and in the purchase of rcal pioperty of any natur¢ or teniire. In the casc of property held as peiinanent endowments, no IIIVe5tm¢nt miy be made in any manner not aiithorised by or without such consent required by the instrument crcating the pernianent endowment and no sale or exchange of real property shall be made without the consent of th¢ Charity Commissioncrs and the Companies Act 2006. Investment Policy and Perfortnance Investment balances are managed by Tilney Stnith & Williamson on a discrctionary basis. The aim of the investment portfolio is to ￿aintain the purchasing powcr of the capital while maintaining an income stream. Gcneral Diocesan deposits are invested in a spread of short-terni bank dcposit5. In 2014 a secondary investm¢nl portfolio was established with a smallei. proportion of equities than th¢ main portfolio in the anticipation of generating better i'etuins than fixed interest dcposits. The Investment Committee reviews the p¢rforn)ance of the tnain portfolio against the appropriate indices. The primary benchmark index is RPI with a secondary benchtnark of the APCIMS Balanced Index. Excluding additional investment, the underlying funds increased in value by 5.5 % {yield and capital growth). The Trustees remain confidentthat the perfomance demanded by the investment policy will continue to be achieved against the backdrop of a currently volatile market. The Investment Committee ¢ontinues lo invest Diocesan fiinds in accordance with an ethical policy which wa5 amended in 2020 to spccifically exclude investtnents in companies which receive more than IOO/o (as a de minllnus value) of their revenues from.. Adult entertainment Prodiiction of contraceptives Healthcar¢ relating to abortion5 CliftoF7 Diocese Anniial Repop'l 2020 21

STRAI'EGIC REPORT Militarylarmaments Gambling Tobacco Alcohol RESERVES POLICY The free reservcs held by the Charitable Company are thosc fi]nds that are freely available to be S￿nt in pursuing the Chai'itablc Compaiiy's pui'pose. Tangible fixcd asscts, pern12nent endowment. resh'icted and designated filnds are not included in fr¢¢ r¢s¢rves. The free reserves of the Charitable Company at the financial year-end w¢re'. 2020 £'ooo 46,821 2019 £'oo 47,161 Total Funds Less.. Pem)anent Endowment Funds Restricted Funds Dcsignaled Fiinds Tangiblc Trixed Assets (875) (5,506) (5,708) (15,066) (847) (5,314) (4,889) (15,555) Fl'ee Reserves of the Charity 19,666 20,556 The Trustees Carefully monitor the level of fre¢ I'eserves as part of tlicii. longer-lem financial plannii)g that includes not only the on-going pi'ograinme of property repai13 and new builds bul includes a ten-year programme of schools, expenditure. The officers on behaifof the Trustees also monitor cash on a day to d&y basis to ensure liquid funds are available for routine expenditure. In view of the nature of the Charitable CoJnpany, the Trustees consider that the holding of reserves is necessary to piovide a buffer against short-term fluctuations in in¢ome and expenditure and to provide sufficient resources to implement long-tem projects which are by their nature uncertain in their financial cffc¢l. The timing of the call for Diocesan fvnds for the schools, building programme will depend on the availability of funding by the Education Funding Authority. Free reserves have decreas¢d by £890k during the year. The free ttserves represent 23 months of recutTing utw¢stricted expenditure (2019.. 24 months). In the light of the long-term chara¢t¢ristics of the expenditure plans thc Ti'ustees consider that thc Charitable Company should maintain free reserves of at least 24 months recurring unrc5tricted expenditure. The paro¢hial free reserves foi'm £13.2m (2019.. £12.Sm} of the total £19.67m (2019.. £20.5m)- It should also be noted that whilst the balance sheet shows "cash at bank and short-tct7n deposits" of £22.6m (2019.. £23.9m), this balan¢¢ includes sale proceeds of £5.2m (2019.. £5.7m) held for future schools building projects and other funds held for restricted pury)ose5. ClifioF7 Diocese Anniial Repovi 2020 22

STRATEGIC REPORT Approved by the Trustees on the )' September 2021 and signed on their behalf by.. li Rt. Rev. Declan Lai)g Bishop of Clifton {Chairman) Clifton DioceseAnp711a/ Repori 2020 23

AUDITOR'S REPORT Independent auditor's repoi* to the members of Clifton Diocese Opinion We have audited the financial stateinents of Clifton Diocc5c for th¢ year ended 31 December 2020 which comprise the Statemeiit of Financial Activities, Balance Sheet, Siulemenl of Cash Flows and notes to the financial statetnents, including a suininaiy of significant ac¢ounting policies. The financial reporting frainework that has been applied iii thcir prcpai'ation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Fillaneial Repop'lippg Siandap'd applic£7ble the UK and Republic of Irelaiid {Unitcd Kingdoin Gcnei'ally Accepted Accounting Practice). In our opinion, the financial statements.. give a Irii¢ and f8ir view of the state of the eharit&ble company's affairs as at 31 December 2020 and of the charitable company's net movement in funds, including the income and ¢xpenditure, for the year then ended- have bccn propcrly pi'¢pared in a¢¢ordance with United Kingdom Generally Accepted Accounting Pi'aclice; and have been prepared in accordance with the requirements of the Companies A¢t 2006. BASIS for opinion We condiicted our audit in accordance with Iiitci'national Standards on Aiiditing (IJK) (ISAS (UK)) and appli¢able law. Our responsibilities under those staiidai'ds are fuither dc5cribed in the Auditoi s responsibilities for the audit of the financial statements scction of our report. We are independent of the charity in accordaiice with the ethical rcquircmciits that are relevant to oiir audit of the financial statements in the UK, including the F,RC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordancc with Ilicse requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to pi'ovide a basis for our opinion. Conclusions relating to going concern In auditing the financial slatemenls, we have ¢on¢luded that the trustees, use of the going concern basis of accounting in the preparaiion of the financial statements is appropriate. Based on Ihe work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or ¢olleelively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve montl)s fi'om when the financial statements are aiithorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant scctions of this report. Other information The ti'ustccs ar¢ r¢sponsible for the other inforn)ation. The other infomation comprises th¢ infoi'mation included in the Triistees, Report. Our opinion on the financial statements does not cover the other inforination and, except to the extent otherwise explicitly staled in our report, we do not express any form of assui'an¢e conclusion thereon. In connection with our audit of the financial statcments, our ￿SpOnsIbl11ty is to read the other inforn)ation and, in doing so, consider whether the other infoimalion is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially missiated. If we identify such material inconsistcncics or appai'eiit matcrial misstatements, we are requii'ed to determine whether there is a tnaterial tnisslalement in the financial statements or a materi&l misstatement of the other infomation. If, bascd on thc woth we have perfomied, we conclude that there is a material Inisstatetnent of this other information, we are required to report that fact. We have nothing to report in this regard. CIF]lon DioceseAnKiial Repori 2020 24

AUDITOR'S REPORT Opinions on other matters prescribed by the Cojnpanies Act 2006 In our opinion, based on the work iindertaken in th¢ course of the audit.. the information given in the Trustees, Report (which incliides the strategic report and the directors, report prcpared for the purposes of coJnpany law) for the financial year for whicli thc financial statetncnts arc prepared is consistcnt will) the financial statem¢nts' and the strategic report and the dii'ectors, report incliided within the Trustees, Report have been pi'epared in accoi'dance with applicable legal requireinents. Matters on iyhieh we are required to i'eport by exception In the light of the knowledge and undei'sldnding of the chai'it1c ble cotllpany and ils environment obtained in th¢ course of the aiidit, we have not identified material misslatcments in the Trustees, Repoit (which incorpoi'at¢s the strategic report and the directors, report). We Iiavc nothing to report in respect of the following mattets in relation to which the Companies Act 2006 requires us to report to yoii if, in our opinion= adeqLiat¢ accounting records have not been kept by the charitable company, or retui'n5 adequate for our audit have not been received fi'oin branches not visitcd by us. or the charitable cotnpany financial statemenls are not in agreement with the accounting recoi'ds and returns. oi. ccrtain disclosures of trustees, remuneration specified by law are not made. or we have not received 211 the infornialion and explanations we require for our audit. Responsibilities of irusteu for the financial statements As explained mor¢ fully in the trustees, responsibilities statement set out on pages 15 and 16 the trustees (who are also thc directors of the charitable company for the purw>ses of company law) are rc5ponsible for the preparation of the financial stateincnts and for being satisfied that they give a ti'ue dnd fair view. and for such internal control as the trustees detcrn]ine is necessary to enabl¢ the preparatioii of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the chai'itabl¢ company's ability to continiie as a going concern, disclosing, as applicablc, matters related to going ¢on¢em and using the going con¢¢m basis of accounting unless the ts'ustees eithcr intend to liquidatc the charitable company or lo ¢ease operations, or hav¢ no realistic alteinative but to do so. Auditor's responsibilities for the audit of the financial statement$ Our obJ￿tIVeS ait to obtain reasonabl¢ a.qsiirance abotit whcther the financial statements as a whole aiE free frotn material misstatement, whcther diie to fraud or errol., and to issue an auditor's report that incliides our opinion. Re£1sonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordanc¢ with ISAS (UK) will always delect a material misstatement when it exists. Misstatements can arise fi'om fi'aud or error and al'e considered material if, individually or in the aggrcgale, they COLild reasonably be expected to influence the econornic decisions of users taken on the basis of these financial statements. Irregularities, incliiding fi'aud, ai'e instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregiilarities, including fraud. The extent to whi¢h our procedures are capable of detecting irregularities, including fraud is detailed below.. Based on our understanding of the eharitable company and the environtnent in which it opei'ates, we identified that the principal risks of non-compliance with laws and rcgulations related to compliance with Canon Law, Company Act 2006, Charities Act 2011, employment law and health and saf¢ty regulations, and we considered the extent to which non-compliance might hav¢ a material effeet on the financial statements. We also considered those laws and regulation5 that have a direct impact on the Clifion Diocese All￿lia1 Report 2020 25

AUDITOR'S REPORT prcparalion of the financial statements such as Canon Law, Companies Aet 2006, Chai'ities Act 2011, The Statement of Recommended Practice for Charities (SORP 2015), FRSI 02 and payroll taxes. W¢ evaluated management's incentives and opportunitlC5 for fraudulent manipulation of the financial slalements (including the risk of override of controls), and d¢temiined that the principal risks wcre related to recognition of income and managcment bias in certaii) accounting estiinates. Audit pi'occdui'es perfomied by the engagement teain included.. Ii)specting trust¢¢s minutes Inspecting correspondence with regulators and lax authorities. Discussions with management including considcralion of known or suspected instances of non- Compliance witk laws and regulatioii and fraud. Evaluating Inanagement's controls designed to prevent and detect iiTegularities' Identifying aiid testing journals, in particular journal entries posted with unusual accoiint combinations, postings by unusual users or with iinusual descriptions; ai)d Challei)ging assumptions and judgeinents tnadc by management in their critical accounting estimates. A further description of our responsibilities for tlie audit of Ilie finaneial statements is located on thc Finan¢ial Reporting Coiincil's website at.. NNww.frc.or -uklauditorsres onsibilities. This description fomis part of oui. auditor's report. Use of our report I'his r¢port is made solely to the charitable coinpany's mcinbers, as a body, in accordance with Chaptcr 3 of Part 16 of the COm￿nieS Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those mattcis we are required to state to them in an Auditor's report and for no other purpose. To tlie fullest ¢xt¢nt pcmiilled by law, we do not accept or assuine responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this repoit, or for the opiiiions we have fonned. Kathryn Burton (Senior Statutory Auditor) l O Queen Street Place For and on behalf of Haysmacintyre LLP, Statutory Auditors London EC4R I AG Date.. 13th September 2021 Clifton Diocue Ann￿al Repori 2020 26

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Clifton DioceseAnF711al Repoi'l 2020 27

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FtNANCIAL STATEMENTS FOR THE YEAR ENDF.D 31 DECEMBER 2020 BALANCE SHEET AS AT 31 DECEMBER 2020 for Cliftou Dio¢e8e Compally No. 11>462076 2020 Parochial 2019 Curi To¢AI Curial Parochial Tthal £'ooo Notes F'IXbD ASSETS Tangible fixed assets Invcslments 10 1,075 11,866 12,941 14,225 3,438 17,663 IsJfju ISJ114 30,604 978 14.820 3,037 17.857 15,798 CURRFNT ASSETS Debtors C￿￿h wt bank and in hand 12 800 10,764 11.5(A 805 22,590 23,395 486 11128 614 47 1.739 S33 11.826 LIABILrriES Creditors.. amounts fllll¥n8 due within one year CuTliI.' amounts due from parÉshe5 wiihiji one year Parislies.. amounts duc from eurio within one year Parish loans 13 {1.787) 1831 11,870) {5811 1146} {727) 33 33 1341 134) 133} 13Jl 34 34 70 12.069 70 Nbl. CIJRRENT ASSETS 9.812 TOTAL ASSETS LESS CURRENT LIABILITIES 52,129 23.522 29,461 Creditots". 8mout)ts Callin8 ￿er more th8n one year 14 15.252) 1561 (SJ081 15.7651 (571 15,8221 P8rish loans 633 16331 842 18421 NEf ASSETS 18,134 46021 18,599 28,562 FUNDS Curial £'ooo Total £'ooo Curial £'o Parochial £'ooo Totsl £'ooo Note5 £'aoo RESTRtCTED FUNJ)S Permanwjt cndowm¢J)I funds Re*ricted in¢om¢ ftsnds 15 16 657 4.754 218 752 970 636 847 744 955 UNRESTRicfED FUNDS Designaied funds Gcttcral fund 17 18 6.254 6,469 12,723 14.520 20,774 19ffj66 40,440 5.333 20,444 TOTAL FUNDS 46,821 18.599 The balanc¢ sh¢el was approved by th¢ Board of '] ru5tee5 on the 1st Septetnber 2021 and signed on thcir bchalf by the Chairinan and Bishop, Right Rcvcrend Declan Lang= Rt. Rev. Declan Lang Bishop of Clifton (Chairman) Clifion Di(Kese AnnNal Reporl 2020 29

FtNANCIAL STATEMEwfs FOR THE YEAR ENDED 31 DECEMBER 2020 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2020 2020 £'ooo 2019 £'ooo Notes Cash flow from operating activities: Net eash (used in) opei'aling ackivilies.. 21 (265) (618) Cash flows from investing activitie$: Dividends, intei'est aiid rents from investinents Proceeds from the sale of pi'operty, plant and equipment Pui'chase of property, plant and cquipment Proceeds from the sale of inv¢stm¢nts Pui'chase of investtncnts Investment Fees adjusttn¢nt Cash held for investincnt Nel cashprovided by (iised in) invesling aclivi¢ies.' 458 10 (305) 4,559 2,289 (4,739) (2,273) 58 58 612 269 448 977 10 1,277 restated Cash flows from financing activities: Repayments of boi'rowing Cash inflows fiom new borrowing Re¢eipt of endowment Nel cashprovided by (used ip7)fip7ancing aelivilies.- Change in cash and cash equivalents in ihe reporting period: Cash and cash equivalcnls at the beginning of the rcporting period.. Cdsli aiid cAsli eqiiivftlenls ai ihe endof tlie reportiiigperiod.. (1,277) 269 23,867 23,598 22,590 23,867 The notes on pages 31 to 55 foiin an intcgral part of these financial statcments. Clifion Diocese An￿¥[￿1 Rep￿.1 2020 39

NOTES TO THE FINANCIAL STATEMENTS ACCOUNTtNG POLICIES Basis of accounting The financial statetnents have been prepared in accordance with the Finaneial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Statement of Recomtncnded Practic¢ for Charities (SORP 2015) (Second Edition, effective l January 2019) and the Companie5 Act2016 Thc Chai'ity is a Public Bencfit Entity registered as a charity in England and Wales. The priiicipal accounting policies which have been adopted on a wnsistent basis within that conv¢nlion ar¢ set out below. Going concern In spite of the need for Ti'ustees to use £lm of coinbined dcsignated and restrictcd ttserves in 2021 to continue to support parishes through th¢ pandemic (by reduccd parish share contributions) the Trustees consider they are still able to continuc as a going concern. A cashflow Statement has been produced uplo Sept 2022 and reserve levels and future plans have been revicwed all of which give Trustees confiden¢¢ the charity remains a going concei'n foi. the foreseeable future. Critiul accounting judgements and key sources of estimation uncertainty In the application of the accounting policies, Trustees are itquired to make judg¢ment, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparcnt fi'om oihci. sources. The estitnates and iinderlying assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimatss. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are rccognised in the period in which the estimate is r¢vised if the revision affects only that period, or in thc period of the revision and futiire periods if the revision affected current and futurc p¢riods. The Trusle¢s eonsider the estiTnalion of lise￿I life of fixed assets to be an are& of judgeinctLt and estimation that liave a significant effect on the financial statements. Further details on these judg¢ments are providcd below under tangible fixed assets. Investment property has been valued in accordan¢e with the policy notcd below. In the view of the Trustees, no assuinptions con¢erning the future or estimation uncertainty affecting assets or liabilities at the balance sheet dat¢ arc likely to result in a material adjiistment to their carrying amounts in the next financial year. Ineome and endowments Incotne is recognised in the period in which the Charity is entitled to receip( it is probable that income will be received, and the amount can be measured reliably. Clif¢op7 Diocese AnniiulR8poI-12020 31

NOTES TO THE FINANCIAL STATEMENTS ACCOUNTING POLICIES (CONTINUED) Donations and any associated income tax r¢claimable fiDm HMRC are recognised on a rexcivable basis. Donations received for the genei'al purposes of thc Charity are credited to uniEStricted funds. Donations subject lo specific wishes of the donors are carried to rcl¢vattt restricted fi]nds. Legacies are accounted forwhen the conditions for their receipt hav¢ been met and the amount can be quanlified with reasonable accuracy. Donated assets are included in tlie Stalcmenl ofFinan¢ial Activities on a receivable basi5 using the I0￿r of market value or the value to the Diocese. Sundry grant income and grants obtsined on behalf of School Govemors are accounted for on a r¢¢¢ivable basis (see Schools Accounting Policy below). Fundi'aising income is shown net of associated costs. Income arising from sales of propety is Ircogniscd as soon as there is a binding agreement. This is Usually the date of exchange of contracts. However, if thc salc is conditional income is recognised when those conditions have been fulfilled. All incoine from endowment funds is restricted incomc and is expended in accordance with the original tciThs of the endowment. Income from Coronavirus Job Rclcntion Scheme (Furlough Scheme) is tsEaled as a Govcrntnent Grant. The Grant is treated as income and the a5sociatcd salary costs treated as expenditure. Expenditure Expenditure is accountcd for in the period in which the Charity becotnes obligcd lo make a transfer of value to a third paity- The irrecoverable element of VAT is included within the item of expense to which it relates. Where an itesn of expenditure falls directly within one cost category it is attributed to that category only. Where expenditure involves More than one Category it is apportioned on a reasonable and justifiable basis. The Social Club cxpcnditure includes salaries, direct expenditure and overhead costs of running the Charity's proprietary social club. Grants and donations are payments the charity makes voluntarily to other institutions or individuals to fuither its objcctives. I'hey are charged to the Statement of Financial Activities in tlie year in which they are payable. Grants and donations also incllide amounts paid to charities or funds or spent on specifi¢ projects. These sums have been collccted from parishioners for these specific purposes. Costs of charitable activities are analysed in th¢ notes by the type of activity. Clift0fr7 Dioeese Anniial Repori 2020 32

NOTES TO THE fNANCIAL STATEMENTS ACCOUNTDIG POLICIES (CoNTIr￿ED) Goveinance in¢ludes the costs of maint2ining records, preparing the accounts, the secretarial function regarding Triistees and other committee meetings. Employee benefits Shori ierin benefils Short term benefits including holiday pay are reco￿lsed as an expense in the period in which the service is r¢ceived. Eipiployee lei'minalion benefils Termination benefits are accounted for on an accrual basis and in line with FRS 102. Pensions The Trustees dcsignale an amount each year which is allocated to the Priests, Retirement Fund. The Clergy Welfare Committee which tnanages this fund considers the needs of priests in retiretncnt and makes appropriate grants. In addition, the Pai'ishes made contribiitions for priest5 to a Group Personal P¢nsion Scheme. Contributions are also paid for all eligible employees by the Curia to a Defined Contribution Schemc. The assets of the Schemes are held separately from those of th¢ Charity in indepcnd¢nily administered funds. The Pension Scheme charge represents contributions payable by the Charity in accordance with the rules of the S¢hcJnes. Schools The Charity owns the land on which its voluntary-aidcd schools are built. The lla￿re of the occupation of the land by th¢5c exempt and exc¢pt¢d charities mcans that the Diocesan TNsl¢¢s do not have the power to dispose of thc land until Ilie school ceases its occupation, Ivhich in turn would require the approval of the Seci'elary of State. Conscqu¢nily, for the piirposcs of these financial statcments the land is not ¢apitalised. Thc cost of any land acquiied for the pui'poses of a voluntary aided school is charged to the statement of finatkcial activities in thc year of acquisition. Where it h8sbeen agreed with the School Governors and th¢ Department foi. Education thata school property and the laiid on which it is sited is surplus to i'equiretn¢J)ts the share of thc proceeds due to the Department for Education, and any other interested partie5, are netted off the total amount receivable. Therefore, only the amount due to the Charity is credited to thc Statement of Financial Activities. The school buildings are occupied, improved, extended and repaired by the school govetijoi's. The nature of thc o¢¢iipation of these buildings, by these exempt and exceptcd charities, means that the Diocesan Trustees do not have control over the biiildings until the school ceases its occupation, which in turn would rcquire th¢ approval of the Secretary of State. Consequently. for th¢ purpose CliftoF7 Diocese Repoi'l 2020 33

NOTES TO THE FtNANCIAL STATEMENTS ACCOUNTING POLlCtri S (CONTINUED) of these financial statements any cost of new building is written off to the Statement of Fiiiancial Activities in the yeai. in which it is ineurred. Any grants donated on bel)alf of the Scliool Governoi's atE netted off against total costs as al'e the sums received Ihiough the Voluntary Contributions Scheme (VCS) and only the residual cost is included in Ihc Statement of Financial Activities. The Diocese of Clifton includes 45 (2019.. 45) maintained schools, 16 Acadetnies (2019.. I8), 2 special schools (2019.. 2), 5 independent schools (2019.. 6) and 16" Forn) College (2019=1). Details of the Diocesan Schools are listed in Ilie Clifton DioL¢san Directory. Taxation The Trustees consider that the Charity is largely exempt from income tax under the provisions of the Income and Cortx)ration Taxes Act 1988 and the Taxation of Taxable Gains Act 1992. Howevcr) provision is tnadc for taxation on the Social Club's income less expenditure. Tangible Fixed Assets Only tangible fix¢d asscts with a cost in excess of £5,000 have been ¢apilalis¢d. (i) Freehold Land Functional land, (i.e. land used for the primary purpose of the Chai'ity), is included in the financial slalcm¢nls at oi'iginal c05t or where this is not available al an estimate of its historic cost or ii) the case of donated land, al its fail. value at the date of reccipt. (li) Freehold Buildings Functional buildings (i.e. buildings used for the primary purpos¢ of the Charily) are incliided in the fiiiancial statements at original cost or whei'e t])is is not availuble at an estimate of their historic eost or in the case of donated buildings at an estitnale of their fair value at the date of receipt. All new fiin¢tional buildings, improvements and major renovations aiE capitalised al the cost of conslrnction. The cost of assets held at 31 December 1996 was eslimated based on indexing back reinstatement insurance valiies to the year of acquisition. Rents are received in respect of certain properties which are held in furtherance of Ihe Charity's objectives and mostly used by the Diocese. Only siirplus space is rented. These pIDperties have therefore, all been shown as charitable functional properties. (iii) Fixtures, Fittings and Equiptnent The costs of Churches and the Cathedral include all fixturcs and fittings and organs which forms part of the f2bi.ie of the building. All other fixtures, fittings and equipment are includcd ITr the financial 5tatcm¢nls at ¢ost. The insured valuc of buildings, cont¢ntS not capitalised is £24 million {2018.. £24 rnillion). Clifton DioceseAnniiol Repoi-r 2020 34

NOTES TO THE FINANCIAL STATEMENTS ACCOUNTING POLlCItI S (CONTINUED) (iv) Works of Art and Historic Treasi1￿$ Individual works of ail, histoi'ic treasures and plate are not capilalised, lls lii5tori¢ cost infomation is not available. Because of the many locations over which these assets are disperscd and theii. specialist natur¢, obtaining reliable infomation to estimate Iheii. cost would be boil) tiine c0115uming and expensive. Tlie Tnistees bclicv¢ that the cost of carrying out suLh an exercise would outweigh the bencfit of this information lo the user of the ccouiits. (v} Motor Vehicles Motor vehicles have beei) capitalised and included in the financial statcmcnts at their historical cost or in the case of donated assets, at an estitnalc of tlie value at thc dale of a¢qiiisition. Depreeiation Depreciation of tangible fixed assets (excluding land) is ¢alculated to writ¢ off their cost le55 any residiial valu¢ in equal annual instaltnents over their estimated useful lives as follows: Churcli¢s built prior to 1941 and the Cathedral Chlirches built 1941 and after All Other Freehold BILildings Majoi. Refurbishtnenls oi. Repairs Motor Vehicles Fixtures, Fittings and Equipinent Freehold Pi'operty Additions {100 years) {75 ycars) (50 years) (25 years) (S years) (3 to 10 years) (25 years) Listed Investments Invcstments are includ¢d in the balancc sheet at their mark¢t value at the balaT]ce sheet date. Realised and unrealised gains and losses on inv¢stments are includ¢d in the Statement of Financia5 Activities in the year in which they ai'ise. Inve5ttn¢nl income is credited to income on an accruals basis. Financial instruments Basic financial instruments are initially recognised at transaction value and subs¢quently measured at amortised cost except for investments which are held at fair value. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. A spccifi¢ provisiori is made for debts forwhich recoverability is in doubt. Cash al bank and in hand is defincd as all cash in instant access bank accounts and used as working eapital. Financial liabilities held at atnortised cost compi'ise all creditors except so¢ial security and other taxes and provisions. Assets and liabilities held in forcign cuirency are translated io GBP at the balance sheet date at an appropriate ycar end exchange rate. Clifion Diocese Anniial Report 2020 35

NOTES TO THE FtNANCIAL STATEMENTS ACCOUIYTll44G POLICIES (COP4TIP4UED) Investment Properties Freehold investment properties owned by the Diocese are includcd in the balantt sheet at their estimated market value at the balance slieel date. The valuation of invcstmcnt properties is perforn)ed by the Diocesan in house professionally qualified valuer and valuations arc in accordance with the RICS valuation- Global Standards 2017.. UK national supplement. As these assets ar¢ recorded at market value i)0 charge for depreciatioii is made iii the accounts. Realised and unrealised gains and losses on investment propeities are in¢luded within the Stateinent of Financial Activities in the year in which they arise. Fund Accounting Funds held by the Charity are either.. Unrestricted general funds- these are funds which can be used in accordan￿ with the eliaritable objccls at Ihc disci'elion of Ilic I iusl¢es. Designated funds- these are funds set 8side by the Tn]stees out of ￿t￿eStricted general fijnds for specific future pury)oses or projects. R¢strict¢d funds- these are fvnds that can only be used for particular restricted purtxiscs within the objects of the ch￿'ity. Restrictions arisc wh¢n specified by the donor oi. when funds are raised for particular restricted purposes. Pern)anent endowment funds these funds represent those assets whieh must be held pennanently by the Charity. Income arising on the endowtnent funds must be used in accordance with the temis of the endowment. Cash Cash incliides cash in hand and deposits repayable on demand less overdrafts repayable on demand. Deposits are repayable on demand if they can be withdrawn at any time without notice and without penalty or if a maturity or periixi of notice of not tnore than 24 hours or one working day has been agreed. Liquid resources represent bank and building society dcposits Whe￿ the pei'iod of notice exceeds 24 hours or one working day. Clifion Diocese Report 2020 36

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NOTES TO THE FfNANCIAL STATEMENTS DONATIONS AND LEGACIES 2020 Parochial £'ooo 2019 PaiDchial Curial £'ooo Total £'ooo Curial £'ooo Total £'ooo £'ooo Offertory Donations Legacics Total 3,628 857 3,630 1,022 182 4,834 4,678 1,128 477 6,283 4,684 1,377 508 6,569 165 177 344 249 4,490 286 INCOMF FROM GOVLRNMENT GRANTS 2020 2019 Parochial £'ooo Curial Parochial £'ooo Total £'ooo Cui'ial Total £'ooo £'ooo £'ooo Coronavirus Job Retention Scheme HNIRC Grant School Condition Allocations (SCA) 17 243 260 DfE Grant Total 18 243 261 INCOME FROM CHARrrABLE AcfiviTIES 2020 Curial Parochial £'ooo 2019 Curial Parochial £'ooo £'ooo Totsl £'ooo Total £'ooo £'ooo Fundraisin& Gi'ants Rec'd and Repository Sales Iducalional Services Training and Publications Rental Income Chaplaincy SeNices Other 577 578 63 955 1,018 112 28 43 112 28 902 21 32 1,673 116 47 56 116 47 1,377 33 78 2,669 859 21 1,321 33 32 216 78 360 Total 1,457 2,3119 CliJPon Diocese Anniiul Reporr 2020 38

NOTES TO THE FINANCIAL STATEMENTS INCOME FROM OTHER TRADING ACTIVITIES 2020 Curial Parochial £'ooo £'ooo 2019 Curial P￿.ochIaI £'ooo Total £'ooo Total £'ooo £'ooo Social Club Total 156 156 156 156 St Petsr's Social Club in Gloucester ceased trading in 2020 INVESTMETrrr INCOLl￿E AND INTEREI ST RECEIVABLE 2020 Curial Parochial Total 2019 Ciirial Paroehial Total £'ooo £'ooo £'ooo £'ooo £'ooo £'ooo Income on UK listed investtnenls Income on UK investment properties Interest on UK cash held at bank Total 212 51 263 58 247 23 (29) 241 56 303 24 47 127 98 207 448 21 37 130 218 137 458 240 Clifion Diocese Anniial Repovi 2020 39

NO'I'ES TO THE FINANCIAL STATEMENTS XPENDTfuRE ON CHARITABLE ACTIVITIES 2020 2019 Curial Parochial £'ooo £'ooo Curial Parochial £'ooo Total £'ooo Total £'ooo £'ooo FAITH AND EDUCATION Worship Clergy Support Pastoi'al Chaplaincy Ediication Pilgriinages 158 699 170 28 (78) 5,998 6,156 699 173 28 (78) 317 760 257 80 709 68 7.390 7,707 760 264 80 709 68 Total 985 6,001 6,986 2,191 7,397 SUPPORT Bishop's Office Governance Finanee 140 165 775 34 494 125 60 140 165 775 34 494 125 60 135 170 806 10 582 138 66 135 170 806 10 582 138 66 Bstate Management Safeguarding Communications Total 1,793 1,793 1.907 TOTAL EXPENDITURE 2,778 6,001 8,779 4,098 7,397 11,495 Clifron Diocese AnNiiol Repor¢ 2020 40

NOTES TO THE FINANCIAL STATEMENTS EMPLOYEE COSTS 2020 Curial Parochial 2019 Curi81 Parochia5 £'ooo £'ooo 1,177 788 69 22 Total £'ooo Total £'ooo 1,965 91 £'ooo 1,126 66 £'ooo 745 21 Salaries Pension Life Insurance 'mployer'sNIC Total Employee Costs 87 110 1,308 16 782 126 2,090 114 1,365 20 830 134 2,195 The average number of employees during the year was 151 (2019.. 169). Two employees had emoluments, excluding pension contribution4 within the band £60,000 - £70,000 (2019.. Three). One employcc had emoluments, excliiding pension contributions, within the band £70,000 - £80,000 (2019.. One) One employec had emolumcnts, excluding pension contributions. within the band £80,000 - £90,000 (2019: One) The total remuneration for key management employees in 2020 was £456k (2019.. £397k). There were eight termination payments for employees during 2020. Redundancy £llk Payment In Lieu Of Notice £2k Total £13k There were no tetTnination payment5 in 2019. Employee costs include £26k for holiday pay not taken during 2020 (£12k 2019). None of the Trustees received remuneration for their work as Tnistces in 2020 (2019.. None). Expenses totalling £83 {2019.' £3,020) were reimbursed to Tnjstees in respect of travel costs incurred. The pricsls who are Trustees are housed and remunerated in th¢ir parishes and are reimbursed their expenses for ¢airying out their priestly duties in the same way as pri¢5ts who are not Trustees. To assist l)tm in the perfomance of his duties, the Bishop is PTovided with a house and his expenses, in carrying out his office as Bishop, are paid from Curial funds. Clifion Diocese Anniial Report 2020 41

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NOTES TO THE FINANCIAL STATEMENTS 11. FIXED ASSET INvESTLI￿NTs 2020 Curial Parochial £'ooo £'ooo 2019 Curial Parochial TotAI £>ooo Total £'ooo £'ooo £'ooo Listed Investments UK Investment Properties 10,851 2,318 13,169 9.596 2,097 11,693 1,015 1,120 2,135 879 940 1.819 Total 11,866 3,438 1S?04 10,475 3,037 13,512 Listed Investments- Common Investment Fund 2020 2019 Curial Parochial £'ooo £'ooo Total £'ooo Curial Parorhial Total £'ooo £'ooo £'ooo Market Value brought fonvai'd Additions at Cost Fees Sale Pioceeds from Disposals Realised Gain/(Loss) Unrealised Gainl(Loss) Market Value carried forward 9,317 2,033 11,350 8,384 1,689 10,073 3,980 (47) 759 (li) 4,739 (58} 1,858 (45) 414 (l3) 2.272 (58) (3,774) (60) 255 9,671 (716) (9) 46 2,I02 (4,490) (69) 301 11,773 (2,021) 145 996 9,317 (447) 34 356 2,033 (2,468) 179 11.350 Cash Held For Investment 1,180 216 1,396 279 64 343 10.851 2,318 13,169 9,596 2,097 11,693 Book Cost can'ied forward 9,319 1,939 11,258 6,853 2.855 9,708 As restated Clifton Diocese AnnuÉTI Repori 2020 43

NOTES TO THE FINANCIAL STATEMENTS UK Investment Properti£s Investtnent properties are included at their estimat¢d open market valuation at the balance sheet date. The valuation is pcrfomied by the Diocesan in house professionally qualificd valuer - Bsc (Hons) MRICS and valuations are in accordanc¢ with the RICS valiiatian Global Standards 2017.. UK national supplement. Movemenls in the investment properties h¢ld during the year welt as follows.. 2020 Curial Parochial 2019 Total £'ooo Curial Parochial £'ooo £'ooo Total £'ooo £'ooo £'ooo Valiiation brought foiward Additions at cost Disposals Ti'ansf¢r from fixed assets Revaluation to estimated open market value Valuation caiTied fonvard 879 940 1,819 879 940 1.819 136 180 316 1,015 1,120 2.135 879 940 1,819 Realised GaiDS I (L4)5ses) on Fixed A5$et Investment5 2020 Curial Parochial 2019 Total £'ooo Curial Parochial £'ooo Total £'ooo £'ooo £'ooo £'ooo On Listed Investments On UK Inv¢stment Properties (60) (9) (69) 145 34 179 Total (60) (9) (69} 145 34 179 Unrealised Gains l (Losses) on Fixed Asset Investments 2020 Curial Parochial £'ooo £'ooo 2019 Curial Parochial £'ooo £'ooo Total £'ooo Total £'ooo On Listed Investments On UK Investment Properties 255 46 301 996 356 1,352 136 180 316 Total 391 226 617 996 356 lJ52 ClifioF7 Diocese Anniial Repori 2020 44

NOTES TO THE FtNANCIAL STATEMENTS 12. DEBTORS: AMOUNTS FALLL¥G DUE wrrHtN ONE YEAR 2020 Ciirial Parochial £'ooo £'ooo 2019 Curial Parochial £'ooo Total £'ooo Total £'ooo £'ooo Prepayments and Other Debtors Income T&¥ Recoverable (Gift Aid) Legacies 622 622 407 407 172 172 53 53 li 26 47 73 Total 800 805 486 47 533 P￿payMentS and other debtors include £15,498 (2019.. £10,602) in respect of loans to priests to pui'chas¢ cars, on which no interest is payablc, and which are repayable within three years. 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2020 Cui'ial Parochial £'ooo £'ooo 2019 Curial Parochial £'ooo £'ooo Total £'ooo Total £'ooo Deferred income School Projects Funding Sundry ¢reditors and accruals li li 278 1,424 1,424 278 352 83 435 292 146 438 Total 1,787 Loans falling due within one year are unsecured. 83 1,870 581 146 727 14. CREDITORS: AMOUNTS FALLING DUE AFf£R MORE THATr1 ONE YEAR The following liabilities disclosed under creditors falling due after more than one year are un5c¢ured. 2020 Curial Parochial £'ooo 2019 Ciirial Parochial Total £'ooo £'ooo £'ooo £'ooo £'ooo Grants Repayable Proceeds of sale of school site payable Sundry creditors and accrlials Loans 73 73 73 73 5,691 5,178 5,178 5,691 56 56 57 57 Total 5,252 56 S,308 5,764 58 5,822 Clifion Diocese Anniial Repop'l 2020 45

NOTES TO 'I'HE rtNANCIAL STATEMENTS 15. I NDOWMEI IYT FUNDS The endowcd funds are pern]anent endowments. The balan¢es on the main funds are as follows: Balance asatl Janiiary 2020 £'ooo Income Expendittire Transfers Gains Balance asat31 1055es December 2020 £'ooo £'ooo £'ooo £'ooo £'ooo CURIAL Bishop's Support Fund Clergy Training Fund Clifton Mission Benefactors Fund Heavens fund Young Fund Poor Missions Fund Total Curial 142 124 142 146 72 10 636 147 128 147 150 74 21 657 PAROCHIAL Pro Caihedral Endowment Hlissey Endowment Knight Endowment Hensler Fund Scoles Endowment Patterson Endowment Stapleton Bretliren Endowment Fairford Mission Endowment Algar Endowment Malmesbury Mission Endowment Nclson Endowmcnt The LAdy 14etl)ert of Lea Fund Carey Trust Endowment Board Endowment Barii¢s Trust Endowment Lucy Sharp Fiind Total P#roehial £'ooo £'ooo £'ooo £'ooo £'ooo £'ooo 18 12 18 12 13 15 14 16 14 14 33 15 15 15 34 15 21 20 211 22 20 218 Dioeese Total 847 28 875 Clijkon Diocese Repori 202Q 46

NOTES TO THE FINANCIAL STATEMENTS 15. NDOWMENT FUNDS (COIYTINUED) Comparativc figures for 2019= Balance Income Expendilure Transfers asatl Janiiary 2019 £'ooo Gains Balane¢ asat31 Losses Decembei. 2019 £'ooo £'OIK) £'ooo £'ooo £'ooo Bishop's Suppoit Fund Clergy Training Fund Clifton Mission Benefactors Fund Hcavens Fund Young Fund Poor Missions Fund TotAI Curial 123 110 123 127 62 19 14 19 19 10 142 124 142 146 72 10 636 S54 82 PAROCHtAL £'ooo £'ooo £'ooo £'ooo £'ooo £'ooo Pro Cathedral Endowinent Hussey Endowment Knight Endowment Hensler Fund Scoles Endowment Patterson Endowment Stapleton Brethren Endowment Fairford Mission Endowment Algar Endowment Malmesbury Mission Endowment Nelson Endowment The Lady l-lerbert of Lea Fund Carcy Ti'ust E.ndowment Board Endowment Barnes"frust Endowjncnt Lucy Sliai'p Fund Total Paro¢bial 15 10 18 12 12 13 13 15 12 12 29 13 14 14 33 15 19 17 184 21 20 211 27 Diocese Total 738 109 847 Clijlon Dio¢￿e Repori 2020 47

NOTES TO THE FINANCIAL STATEMENTS 15. ENDOWlVtEP4T FUNDS (COTrITINUED) Curial Endowtnent$ Most of the endowments are for specific puryoses as follows.. The Bishop's Support Fiind is for the maintenance of thc Bishop's Officc at St. Ambr05e House (whi¢h also serves as his r¢sidence) The Clergy Trnining Fund is for the training of clergy and vo¢ational support The Clifton Mission Bencfactors Flind is to say masses for certain individuals The Fleavens Fund is the for the maintenan¢e and education of Catholic orphan girls The Young F.und is to assist widows and distressed ladies The Poor Missions Fund is for the assistance of poor parishes of the Diocese Parochial Endoiyments Most of the endowtnenls are for specific pai'ishes as follows: Pro Cathedral- for the benefit of Clifton cathed￿[, Bristol Huss¢y- for the benefit of the parish of St. John's, Bath Knight- for the benefit of the parish of Sacred Heart5, Westbury on Trym Hensler Fund - for the benefit of the Clifton Cathedral Parish, Bristol Scoles- for the benefit of Ihe parishes of Chard, Crewkernc and Yeovil Patterson- for the benefit of the parish ofchipping Camden Staplcton Brethren- for the benefit of the parish of Chippenham Fairford Mission- foi. the benefit of the parish of Fairford Algar- for the benefit of the parish of Frome Malmesbury Mission- for the benefit of the parish of Malmesbury Nclson- for the bencfit of the parish of Downton, Salisbury L8dy Herbeit of Lea Flind- for the benefit of St. Osmund's Parish, Salisbury Carcy Trust- for the benefit of the parish¢s of Holy Rood, Swindon and St. George's, Taunton Board- for the bciicfit of the parish of St. George's, Taunton Barnes Ti'ust- for the benefit of the Sacred Heart Parish, Tisbury Lucy sha￿ Fund - for the benefit of the parishes of St. John's and St. Mary's in Bath, and St. Joseph'5 in Bridgwater Clifton Diocese Anniiol Repoi'l 2020 48

NOTES TO THE FINANCIAL STATEMENTS 16. RESTRICTED FUIYDS Balance asatl January 2020 £'ooo Income Expenditure Ti'ansf¢rs Gains & (Losses) Balance asai31 December 2020 £'ooo £'ooo £'ooo £'ooo £'ooo CURIAL Bishop's Charitable Fund Bishop's Support Fund Pi'iests, Retirement Fiind Clcrgy Welfai'e Fund Clergy Training Fund Youth Development Fund Youth Bursary Fund Christ's Collcgc Education Fund Curial Resti'icted Legacies Curial I'rubt Funds Fundraising ApFtals Other Curial Funds R¢stri¢led Fixed Assels Fund Tot&1 Cllrial 112 31 14 251 84 232 753 469 233 615 389 172 200 62 17 10 76 73 12 14 1,485 662 785 20 12 14 1,485 644 781 20 17 234 4,754 23 70 28 29 26 26 17 243 4,570 315 496 329 36 PARoCH￿L Parsons Fund- Jesuit Cathedral Fund Other Parochial Funds Total Parocbial 181 116 447 744 185 120 447 752 (5) (4) Diocese Total 5,314 323 496 325 40 5,506 Clijkon Dioc&¥e Anniial Rgpop't 2020 4P

NOTES TO THE FINANCIAL STATEMENTS 16. RESTRICTED FUNDS (CONTINUED) Comparalive figutts for 2019= Balance Incotne as at I Januaiy 2019 £'i)00 £'ooo Expenditure, Balance gainsl(losses) asat31 and transfers December 2019 £'ooo £'ooo Bishop's Charitable Flind Bishop's Suppoit Fund Pi'iests, Retirement Fund Clergy WelfaiE Fund Youth Development Fund Youth Bursaiy Fund Christ's College Education Fund Curial Reskn'icted Legacies Curial Trust Funds fuiidrasqing Appeals Restricted I,ixed Assets Fund Total Curial 97 133 859 348 15 100 112 233 615 389 12 14 1.485 (244) 41 13 1,485 683 753 20 249 4,651 (21) 662 785 20 243 4,570 32 (6) (271) 191 PAROCHtAL Parsons Fund- Tisbury Parsons Fund - Jesuit Cathedral Flind Othcr Paroehial Funds Total Parochial 182 101 410 694 (i) 181 116 447 744 15 37 52 (2) Diocese Total SJ45 243 (273) 5,314 Restricted funds can only be used for a particular purpose. The restrictions on the funds arc as follows.. Bishop's Charitable Trust- this fund is for charitable donations at the discr¢tion of the Bishop The Bishop's Siipport Fund is for the maintenanct of the Bishop's o￿L¢e (which also serv¢s as his residence) Priests, Retirement Fund- this fiind supports retiird priests and provides accommodation where necessary The Clei'gy Welfare Fund is for the relief of infirn), siek and ag¢d Roman Catholic sccular priests of the Diocese The Youth Development Fund is to be used for the young people of the Diocese The Youth Bur5aiy Fund is for young people of the Diocese Clifioll Diocesg Rcpori 2020 50

NOTES TO THE FINANCIAL STATEMENTS 16. REI STRICTED FUNDS (CONTINUED) Christ's College Education fund is th¢ proceeds fmin the sale of the coll¢g¢ which are restricted foi. educational purposes Ciirial Restricted Legacies comprise several legacies donated for Specific purposes Curial Tru51 Funds ¢omprise of a small nuinbcr of specific Trusts relating to individual parishes oj. parishioner groups Fundi'aising Ap￿alS represent funds donated to support fundraising activities Thc reslricled fixed assets fund represents funds donated to assist in the purchase of the Diocesan administt'ative officcs in Bristol (Alexander House) as well as properties restricted foi. Ihc use of retired priests Othei. Curial Funds coinprise of special collections, legacies and donations for specific projects Th¢ Tisbiiry Parsons Fiind is to bc used for the benefit of the people, buildings and activities in the pai'ish of Tisbury and Wardoui.. This fund is now clos¢d. The 'l'isbury Jesuit Fund is to be used for the benefit of the people, buildings and activities in Tisbury and othci. similar rural parishes of the Di(Kese Other Parochial Funds compi'ise of spcoial collections, legacies and donations for specific projects within the parishcs 17. DESIGNATED FUNDS Designated Funds aiE unrestricted funds that have been designat¢d by the Trustees for a specific putpose. The fund designalions are reviewed a[￿uallY. Balance Income Expenditure Transfei's asatl January 2020 £'ooo 15,555 53 876 Gains Balance asat31 Losses December 2020 £'ooo £'ooo 702 £'ooo £'ooo 213 18 588 £'ooo 15,066 71 1,514 Fixed Assets Fund Clei'gy Welfare Fund Priests, Retircincnt I,'uiid Si. Thomas Mol'e Secondary School Christ's Coll¢gc Sponsoi'ship Fund Aduli Education Fiiiid School Projects Reseive School DFC Funding Bristol Catholic Players St. Bonaventure's Fund Property Maintenance Fund St John's Primary Bath ISG Funds Sister,q of the Temple 21 29 1,407 1,407 750 750 34 35 44 678 13 538 140 291 866 39 296 834 32 (39) 75 75 Tot21 Designated Funds 20,444 35 734 1,000 29 20,774 Clifion Diocese Annual Repop'l 2020 51

NOTES TO THE FtNANCIAL STATEMENTS 17. DESIGNATED FUNDS (CONTINUED) Comparative figures for 2019.. Balance Income Expenditure, Balance asat I gainsl(losses) asat31 January and transfers Decembei. 2019 £'ooo 2019 £'ooo £'ooo £'ooo Fixed Assets Fund Clergy Welfare Flind Pricsts, R¢lir¢ment Fund St. Thomas Moir S¢condary School Christ's College Sponsorship Fund Adult Education Fund School Projects R¢scrve School DFC Fundiiig Bristol Catholic Players St. Bonaventui'e's Fund Property Maintenancc Fund St John's Primary Bath ISG Funds 16,120 54 760 1,682 750 34 31 408 (565) 15.555 53 876 1.407 750 34 116 (275) 130 538 286 1,015 291 866 39 (149) 39 Total Designated Funds 21,144 290 (990) 20,444 Th¢ funds h&ve been designated for the following putpose5.' The Fixed Asset Fund represents the net b(K)k value of tangible fixed assets less the net book value of tangible fixed assets included in restricted fiinds The Clergy Welfare Fund supports the medical and welfare costs for sick priests and those requii'ing niirsing care The Priests, ReliiEmenl Fund is a fund lo suppoil priests currenily in retirement The St Thomas More Secondary School fui)d represents the proceeds of sale of the school site which are designated for the purposes of future schools, building projects Christ's College Sponsoi'ship Fund represents funds held to sponsor a shared faith schix>l Adult Education Fund i'epres¢n15 grant5 received foi. fom)ation and spiritual direction School Projects Reserve Irpresents ftinds set aside to support school capital proj¢¢ts School DFC Funding represcnts fuiid5 h¢ld on behalf of voluntary-aided schools for capital works Bi'istol Catholic Players represents funds held on bchalf of a Connected charity CIF Income Reserve represents funds held for distribution to parishcs St. Bonaventure's Fund is for a liability on the propety that will only be realised once the propcrty is sold The Property Maintenance Fund is for planned maintenance on Di(￿¢Se buildings Clifton Diocese A￿￿tial Repopi 2020 52

NOTES TO THE FINANCIAL STATEMENTS 18. GENERAL UNRESTRICTED FUNDS (EXCLUDING DESIGNATED FUNDS) Balance as at l Jailu￿Y 2020 Moveinent dui'ing 2020 Balaiicc as at 31 December 2020 £'ooo £'ooo £'ooo General Curi21 Funds General Pan)chial Funds 8,060 12,497 (1,591) 700 6,469 13,197 Total Unrestricted Fund8 20,557 (891) 19,666 19. TRATrISFERS BETWEETrI CURIAL AND PAROCHIAL FUNDS Curial Parochial £'ooo Total 2020 £'ooo £'ooo Parish Share Other transfers 1,266 (224) (1,266) 224 Total 1,042 (1042) The Parish Share is a contribution from th¢ parishcs towards the ¢osls of running the central activities of the Diocese, to support the collective pastoral and legal fuiictions. It 15 assessed on the basis of parish income. 20. ANALYSIS OF NET ASSETS BETWEEN FUNDS Endowments Resti'ieled Designatsd Unrestricted Total Funds £'ooo £'ooo £'ooo £'ooo £'ooo Tangible Fixed Assets Fixed Asset Investments Net Current Assets Long Tenn Liabilitics 234 1,213 9,238 (5.179} 15,066 905 4,932 (129) 15JOO 15,304 21,525 (5J08) 857 18 12,329 7,337 Total 875 5,506 20,774 19,666 46,821 Clifton Diocese Anniial Reporl 2020 53

NOTES TO THE FtNANCIAL STATEMENTS Cotnparative figutEs for 2019.. Ei)dowments Restricted Designated Unrestricted Total Funds £'ooo £'ooo £'ooo £'ooo £'ooo Tangible Fixed A&sets Fixed Asset Investments Net Current Assets Long Tenn Liabilities 243 1,291 9,472 (5,692) 15,555 760 4,259 (130) 15,798 13,512 23,673 (S,822) 828 19 10,633 9,923 Total 847 5,314 20,444 20,556 47,161 21. NOTES TO THE CASH FLOW STATELIIEP4T (a) Reconciliation of net incomel(expenditvre) to net cash flow from operating activities 2020 £'ooo 2019 £'ooo Net {expendilur¢)lineome for the reporting pei'iod Adjustments for.. Depreciation charges (Gains) on investments Dividends, intei'e5t and rents from inv¢stm¢nls (Pi'ofit) on the sale of fixed assets (Increase)/decrease in debtors In¢reasel(de¢r¢ase) in ¢reditors (340) 1.262 807 (617) (458) (10) (272} 628 561 (1,352) (448) (429) 42 (254) Net cush (Iised in) operating activities (262) (618) As restated (b) Reconciliation of net cash flow to movement in net funds 2020 £'ooo 2019 £'ooo {DeereaseyinciEase in cash in the year Cash inflow from repayment of loan Ncw loans rcccivcd {D¢cr¢aseyinciras¢ in n¢t fvnds in the year Net funds brought forwaid (1,277) 269 (1,277) 23,867 269 23,598 23,867 Clifion DIoc￿e Anniial Report 2020 54

NOTES TO THE FINANCIAL STATEMENTS 21. NOTKS TO THE CASH FLOW STATEl¥tCi NT (CONTINUED) (e) Analysis of ehanges in net funds As at l January Cash Flow 2020 in Ycar £'ooo As at 31 December 2020 £'ooo £'ooo Short-Tenn Deposits Cash at bank and in hand 19.638 4,229 (1,981) 704 17,657 4,933 Nel ￿sh at bank and short-lerm deposits 23.867 (1,277) 22,590 Loans due for repayment within one year Net funds Carried foiward 23,867 (1,277) 22,590 Cash at batth and in hand is held in a group bank account together with short-tern) deposits. Short-tern) deposits on moiE than one day's notice are treated as liquid rc50urc¢s. The charity has no debt. 22. RELATED PARTY TRANSAcfIoNS The charity has had no related party transa¢tions in either the ¢utYent or prior year. Clifton Diocese Anniiul Report 2020 55