, CLIFTON
DIOCESE
CLIFTON DIOCESE
A Company Limited by Guarantee: Registsred No. 10462076
ANNUAL REPORT
and
FINANCIAL STATEMENTS
for the year ended
31" DECEMBER 2023

CIJFfoN DIOCESE
c￿rIty Number:
1170168
Company Number:
10462076
Regtstertd Address:
SL Ambto
North Road
Leigb Woods
Bristol
BS8 3PW
PROFESSIONAL ADVISERS
Audltor8:
Haysmacintyre LLP
10 Queen Street Place
London
EC4R IAG
Bankers:
National Westminster Bank PIC
Commercial Office
PO Box No 2702
3 Temple Back East
Temple Qway
Bristol
BSI 9BW
IDves¢meDI Manager:
Evelyn Partners
Portwall Place
Portwall Lane
Bristol
BSI 6NA
Soli¢itors:
Sione King LLP
Upper Borough Court
Upper Borough Walls
Bath
BAI IRG

CONTENTS
PAGE
Trnstees. Report
1-15
Strategic Report
16-22
tnd¢p¢nd¢nt Auditofs Report
23-25
Statement of FiD￿CIal Activiti¢s
27
Balanc¢ Sbeet
28
Cash Flow Stat¢m¢nt
29
Notes to the Finan¢ial Ststemellts
30-54

TRUSTEES. REPORT
BISHOP'S VISION
The Church of Clifton
is called to be a peopl¢
who believe in Chris¢
who celebrate Christ
and who live An the way of Chri$L
The Church 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 the Kingdom
and to make disciples.
so that the world will be transforn]ed
according to God's plan.
MISSION
Our Parishes and Communities
should be places
wher¢ Christ is celebrated.
Shared, proclaimed and lived.
where everyone
is welcomed and valued
and all have a sense of responsibility
for the life of the community and the world.
commuNIO
We ar¢ called lo be disciples
who not only know about Jesus
but also come to know him in pray¢T.
Our liturgies
should be ¢elebrated in such a way
that ChTiSt's word is heard.
his presence known,
and which are so connected to our lives
that we joyfully
take up the command
'Go in peace glorifying the Lord by your life..
PRAYE
Clif￿￿ ￿￿c￿eAn￿￿alRePorI 2023

IRUSTEES. REPORT
HISTORY OF THE DIOCESE OF CLIFroN
Until 31 DeizDknT2017theR(rnati Catknlic Di{￿* of Clift(mwas CC8LstiMtd4s a Ch￿lty forB￿rnan
Catholic PU￿OSesbYtheD￿1araIlonofTnlStd￿ted6thMaY1934. aDE￿￿dbya s¢h¢nK dato119'AU￿t
1996 and fitrth¢rall￿n￿dby ascknjedatol IP Janw2(N)7. All rq￿)rt1ngWasrn￿c uthr¢*d
Cbarity No. 233977.
On l January 2018 the ass¢ts and op￿￿10[￿8 of the DIOC￿ tranSf￿red to this Charitable coM￿Y
LimitedbyGuardntee.calledClift0ttDi￿¢se.TheCom1wnUmbCrjS IlM62076andth¢ch￿itylluMb
is 1170168. The Diredors oftheCbarAtsbleCOn￿allYa[e the TrusXe4 andthis ¢ompany ca￿leS onthe
activities of the Diocese.
The Dioc¢s¢ ¢ompYise8 the counties of Somert GI0￿c￿terthl￿ Wiltshire andthe City and CouIty
of Bristol. Cliftonislargely 8nwaldio(>scen(xTrMpas￿gn￿townsandy1l1agc5Wlth severalmalium
conurbatiOn8 and onen￿jOrClty. The Diocese seryesits people through 104 paTishe4 27 maintai
schools and I sixth f(Km college. 12 single a￿l￿nIeS, 3 multi-aca(kmy trusts, 2 sp￿la1 sch￿)15 and2
independent schools and the Diocesan administrative office {Curia).
Th¢ principal obj¢d5 of the ch￿lty are the adVat1￿mentOf the RomauCatholicre]igion. the relrf of
poverty, the mailltellan¢x of the Roman Catholic Churches and the provision of Roman C8th01
education within the Dlocese of Clifton.
ORGANISATIONAL STRUCTURE
The primary routes of delivery of the ChaTitable Company's objectivesaTr the parishes and s¢h¢x)b
within the Diocese.
As part of the wider Catholic comTllLullty the Diocae WOTks collaix)ratively with other Dioc¢w in
England and Wales and th¢ Bishop is active internationally througb his work with the Catholic TnL*
for England and Wal￿.
The Diocesan administrative office supports the delivery of the objectives by co-ordination of
Diocesan-wide progrdmmes and ensules a cohesive approxh to the administrdtion of the Diocese
cffcctively SUT￿rttheparl$be4 whith isp&rtirularIyirnpithtd￿lo in¢r¢asingstathtory reqllirn￿ts
in areas such as property management and govcrnance.
Parlshes
Ther¢ are approximatcly 170,(JJ) people who idelltify as Catholic within the Clifton Diocese. Dafy.
parishiontr5 gather in our Churches for worship within the parishes, creating local Catho
commutiities wlllchun<krpintheforn]ation oftheir faith atKI &livcr ￿treath to thewid¢r comm￿1
in which Ibey are based.
Th¢T¢ are 77 active priests (Diocesan and Religious) within the Diocese who lead th¢ parith
communities, sUEWrt￿bYs0 deaL￿L$ManY0fW￿omc0￿l1lnethelr[ellgI0usvolation with careuaJ)d
Clif￿￿ DiocueAnntsal Report 2023

family responsilTriliti¢s. In a(klition, thereare many retirql priasts who continueto providesupport and
ministy where needed.
The role of the laity within the Diocese continuesto be a central feature to the life of our Catho
comtnunity andas aresult ther¢ is a focus Oll their fOllnatio￿ growth andspiritual wellb¢nw A key
role of the Diocesan D¢path￿t for Adult Education and Evan8elis&tion is to facilitate varKHL8
training ¢venl$ and provide resources to assist with fomiation activities.
Throughout2023 Mass attendancewithinthemajorityof par1she5hasretur￿ltOp[e-parA1ernl¢leVC
with thc provision of the Sacrallrnts also inc￿a51￿ Parishes througbout th¢ Dio¢¢s¢ ¢ontinue
welcome new parishir￿￿TS wbo have moved to the UK from cowitries such as Africa, the Indiati
subcontinent andthe PhIli￿l￿e4 partiojlarlywithin the large townsand city location8 wherethere i
a large provision of employment within the healthca￿ sector.
Mass Attendanee and Sa¢raments
2023
1.169
90
1,417
634
22.294
2022
581
68
1.552
830
19,132
Baptistn5
Received into the Chur¢b
First Holy Cotnmunions
CoDfwJnation
Sunday Mass attendance
Outreach to local communities remains a key fo¢w forparithes. Adivitiesare centred around mi&si(
and Catholic s￿1&1 teaching and inc1￿le SUFQOrt for lo￿1 f￿1 banks and prowi(KLsforthe homek
su¢h as soup rnns.
Th¢ Dioc¢s¢ aThl pwisbes haveclose links withCAFOD (Catholic Agency forovffseas DeYe]otAn￿t)
and throu￿ this a￿1 Oth￿rOut¢s. thtt¢ 15 stroDg 5UPWrt from acro&q the Dioce￿ for oveLWS WO]kin
areas of pov¢rty. warand where natural disasta5 have taken plaK There are also various initiatives
undertaken to support refu8¢¢s both in the UK and ovcrseas.
The]04p￿ishesCornprIs1T￿thcc11fl0nDtoC￿f0m1thec0re0f0urC&thojiCc0rnMUllity. Thepartshes
are served by 56 secular priests and 21 pri¢sts from orders and other missions. The priestfulfils the
central role in the parish Ministylngsa￿Q1￿ leadingworship aDd in widerministyto the faihfid
and the Community at large.
Clifton Diocese is aL80 fortunate to be servedby a team of 50p¢nnancntdeac￿￿ whoare vital to the
pastornl life of the DI(￿e￿a Thedeacons offer ministy tothe Chwrb som&ime8 al￿g$]￿, and wov
into. a full WOTkingcareerand family life. In many porishes that shaTepriests. thedexon wodis Wmkr
th¢ direction of the priest in the delivery of pastoral care.
Following the rcstructure in 2023 the parishes co-OPCta*as 9 d¢#neries/ pastordl areas, facilitating
local coU8bor8tion and provides a collegiate environment for parish priests.
The parishiontts fimdboththeupkeep ofthe CIR]rchbuildings aThlthe ￿(X)nIn(￿jats0n andlivingLX)sts
of theirpriests. In additionto this Tesponsibility.tbey C{￿(nIx￿e through a parish share to the supp)rt
Cliffvn DioceseAnnudlReport2023

of the Dioc¢san depaxtmental structuft and a vastrange of external charities and group& As well &8
their financial contr11￿tio￿ the parishi0De￿ a]socontribu* timeandeffortbothto the Dj]￿ing0rther
parishes and to the wider Community through groups proviikng local support and welfar¢ s¢rvKe&
Some of ourparishesare operdting in Communities fxiDgthe chall¢D8¢sof unenyloyntntandsrnal
deprivation, and community buiidiug is ititegrdl to the work of thes¢ parAshes.
Schools
There are 52 Catholic primary. 7 Catholic seco￿lary scknols anda Sixth form college* 2 indeN&knt
special schools and 2 other indep¢txknt schoolswithin the Diocese. Followingthe forniation of Ihe
Little WayEdu¢atioDalTruston l January2￿24. th¢raren0wthreeDioc￿ll CatknlicMulti-ALth
Trnsts in the Diocese compIisiDg 20 primary schools.
Over 21.800 pupib are ¢du¢at¢d in our schools and whilst PriOTity is given to Catholic appli
approximately 480/0 of pupils ar¢ drawn from outside the Catholic community. The academ
perfomunce of our schools is a key focus for the Diocesan Departn￿ of Schoots and Colle￿.
therefo￿, regular monitoiing and ¢n8agemellt with Headteachus and Boards of Governors are
und¢rtak¢L Th¢ ptovisionof trainingfort¢acbo3 andgovetrKrs ren￿lDS an importantactivityfor tbe
team, particularly with the introdu¢tion of the new Catholic School Jnspection Framewo& whidi
focus&s on the Catholic ethos of schools. Th¢ team also continua5 to WO￿ ¢losely with the relevattt
Local Authorilies. the Regional Schools Commissiotw and OFSTED to ensure that bio) qualty
education is delivered.
PUBLIC BENEFIT
The TTUStees confirnithatthey have complial with the duty as defmedin section 17 of th¢ Cbariti&s
Act 2022. to have due regard to public benefft guidaniy publish￿1 by the Charity commissm)￿ in
determiningthe activiti&4 Ut¥lotsk¢n by the Charity. In making this declaratio￿ theTrnstees con8Mkr
the work of theDiocese in supwitingow ch*itable thiectsandthesectioDs itlow elaborate fUth￿On
the key areas of the benefit of our work to the public.
Access to our Churches
Ourchurches areanimportantpartofhiyw0wcommunitiesdcfinethet￿elvesandth¢Yarea SI￿lf￿￿nt
f¢atur¢ in many townsandcities. Mostof thas¢ buildin￿ are betweffl 30and 150years old and g)me
are ofbistoricalandatthitsctural 1rnEm)rtan￿. HistoricEn￿alldlISt$oMe. Weareguardiansof ahe
thathas been pa&8edonto us andwe will always doourb¢stto passthemon in good0rd￿t0 th¢ nart
gcncration. Allof themaTe SUbj￿tt0aneedforcOnstsDtrna1nttnan(l andrepairandthis isa signifKant
part of our overall expclldi¢ure.
Help to the needy
When we cometo love of our n¢igbbows, Jesus Christwas vy cl¢arthat this didnot just meanl]K
who live n¢xtdoor to us, bUteVeryo￿ thatwe sharethis beautiful God-givenplan¢t wiih. Our cl
Clifvn DiocueAnnuolRéport 2023

Dd parisbioner8Teach out notju*to theirownm¢TrlKrs.butalsoto all whomay needtheirhelp. They
an be found helpiDgon soupnuL8 atsJf* the homd¢ss atnight sh¢lth aThJf(KMJ bank$ assisimg
disabled adults and childrn. visititig the sick athom¢. in a nuTsill8 hom4 or in hospital, dealingwilh
Fair Trade and a whole range of ¢nvironmelltal issues. workiDg for justice and peace at home and
abroad, hclpingwith asylumissu¢s and couDscllmg those with all sort% of problenkq. Fitially. raisiug
awarenessoftheplightofthe marginalisedinmanyp8rtsofthewodd.ardrdisingfundstO 8iv¢py&ti￿l
assistance to sucb areas attd peoples.
Cvvordinating collective fundrahlllg efforts
For accountingpurp)se4 the moneythat ¢buT¢hgoa3 nise f(T third partiesis notclassifial as Ch￿th
income. However. the realityis thatwith1￿tth¢ klpand slnthreof the Churc1¥ tha8efund8 wouTdnot
b¢ rais¢d. So. for th¢ Church, charity is not a welfare activity whicb couldbe left to others. butan
int¢gralpartof wh* it m¢4nsto be a per&)nof faith and a member of the Roman Catholic ChuTCh.
Edutatlon
Thenumberofpr]maryandse￿￿￿rys¢h￿IsWithwhlcbwcare involvalmak¢susasiguifi¢an¢figllE
in the fieldof educatio￿ We areinvolvedwith asmany.if notmoTesch(Kyl4thanmanylocal educafy)n
authorities. Wbitst our primary thnL8tis to providepIa¢&s for Catholic childre4 it is also true that Ih¢
schools havea signifJ¢ant numlxr ofpupils and staff fr(rtn otha Chri5tianttaditionsand otherfaits.
Our schools are constantly e￿￿jragcd to strive for excellenc¢ for all pupils. and we value the
colltribution that these s¢hfy)Is maketo theirlocal communiti¢s. We alway8 aimto have ourschwL8&8
bwonsof excellenc< not only acthmically butalso in foith a￿lM(￿als. In this way) wehe4)k) sbow
our love of our neighbours.
PRINCIPAL RISKS AND UNCERTAINTIES
The Trust¢¢s activelyreviewthemaj(Y strategic busiDeSS atsJOprati(x￿IIskS to whichth¢Charitsbk
Compauyis exposed aThl confirm that th¢s¢bave beenrevle￿dand strategiesand sy5t¢n￿ havebeen
establishedto mitigatc exposure to these risks. Fach Head of Departmcntand SubQommitt¢¢ of1h¢
Board is required to monitor clws anddevelop sJ3tans to mitigat¢risk wFKncvcrp)ssible. Thek
risks identified by thc Board include:
Effective implementation of H¢ahh & Safety legislation
Mitigations:
Onlitle training modules available for employ¢¢s and volunteers
D¢tail¢d policies and procedures in place. with regular review undertak¢n
Implemetttation of Safcty Toolbox for parAshes
Resource constraints
Mitigations:
Regular review of clergy r¢sour¢¢s is undertaken
Succession plans in place for clergy and kcy cmployees
Clifvn Dioc&teANnualReport 2023

Safeguarding of children and of vulnerabl¢ adults
Mitigations..
Structured trainiag pro8ramme in place for cl¢rgy. employees and volunteers
Diocesan Safeguarding team consist of experienced Safeguarding professionals
National Catholic safeguardtng policies and procedures are impl¢ment¢d
Safe8u&rding Committee estsblished as a sub-committee of the Board of Trustees
Diocesan Server Management and Cyber Security
Mitigations..
User Ac¢¢ss controls in place including multi-factOT authentication
Regular system back ups completed by external rr provider
Ongoing rollout of Microsoft 365 security functionality
Hosting of Diocesan websites outsourced to ￿ provider
FUNDRAISING APPROACH
Clifton Diocese is registered with the Fundrni5ing Regulatorand abides by thc Code of Fundraising
Practice. The majority of ourfutxtr4ising4thivityis condwted withinparisbc5 via direLtcOn￿t
parishioners. Parisbionersare aIso ￿￿tartedbY email if theyhaveprovi&d¢orts￿l extherdircctyor
i)Jdir¢ctly. for example via the p￿]Sh Dewsldter. FundraisiDg appeals are mallaged by the Diocese
across au parishes. The Dioc&4edo¢s notemployc0m￿r￿al fundrai￿rS0[C0n1aCt membets of Ihe
public who arc not parishioners. Our parish￿ led by our priests, have a duty of Care lowanl any
vuJn¢rabl¢ parishionas and we take great car¢ to ensure theyare treatedwitb di￿lty and re8p&#and
in a¢¢ordan¢e with our safeguarding po]icies.
To date no Complaints aiK*thfundrdising activities have been Teceived by the Diocese. (2022". Nil)
GOVERNANCE AND MANAGEMENT
Governance
The Dio¢esanTruste¢s ledby the BislKJp. in conjunctionwith the Ca￿￿lL31b(xll¢5 of the DI￿e8￿8
r¢sponsibl¢ forformulatingstrategies whi¢h d¢livtrth¢ pastoral WO￿ of th¢ Dioc¢se. Theydevek
policies which ¢nsurc complian¢x with civil legislation ond ensurc the dissemination of su¢b polKies
throU￿oUt th¢ Diocese. for example safe8uardin8 and bealth and safety. Throu￿ a CornmillEe
sITUCture they oveiseeall aspects of compliat￿¢WIth r¢l¢vant legislation including flnancial ¢ontsD
rnaThagem¢nt of Dio¢¢san properties and employment issues.
The Bishop is appoinknl by tbe Pope as chief Sheph￿d.￿aCh￿ and sanctificr of the Diocesan tw(.
He also has a rol¢ as the le&r of anorganisationwith 149¢n¥iloye&8, 8&8ets of£52.4m and income or
£11.3m. He is advisedbya Bisb(p'sCouDciI ofsen1￿ clu8y a￿a¢hair$ the B(Mrdof Tn￿trts. fomrd
of both cler&y and lay MeMb￿S.
The Bishop is ¢MpOw￿cd¢o appoint andremoveallTTUSte¢& The Tnthbody is mad¢ upof ¢bgy
and lay faitlthl ofthe Dioce￿. There are 14Tru*¢s or￿1th Bish(y is ChaimwL The 6 011
clerical Trust¢¢s are arp)illt¢dfoTtheire￿rtlse inparctbial, spiritual. pastoral atKI canon1￿1 matty&
Clif*Jn llioceseAnnuolReport 2023

Th¢ 7 lay Tru$t¢es are selectedfortheirwide-TaDgingbu￿esS atyl eduLztional expertise. Trustees&E
appointsdfor a terni of 3 years retsewable up to a maximum of 9 years. Periodically a skills audit is
ulldertake￿ andskill gaps ide￿IfiCdbea￿IDg1ll mind the ¢unEnt areasof wo]k whithprovide spe¢1
challenges for the Diocese. R¢crnitment is carried out after adv¢rtisin8 throU￿oUt the Catho
community of the Diocese.
When the Charity GoVern￿￿e Code was publisTr*d in July 2017. the Tn￿teeS evaluatedthe Boanl's
perfOrn￿￿¢agaJnSt ¢ath pIincwle of the Co(kand fouthl that the Dio(zK metrnost of the outcomes.
The Trustees adopt&l the Cod¢ and havc aspired to meet all r¢quirem¢nts. In Novernb￿ 2023 th¢
Trustees reviewed the revised version of the Code and Ieaffirn￿d the aspirations to meet all the
requirements.
New Thste¢s are given an induction which includes a pack of inforniation on the consti￿lI)n,
governance, and opwation of the Dioc&%e. All Trust¢es are ¢K￿ted to be familtar with the centsal
departsnents andth¢ parishes ofthe Diocese. Th¢ Tn￿te¢S are a150 encowd to attend any cou
which will supportthe deVel0F￿￿t oftheirrole and ]n-h(￿e trainings¢ssions arc provided to
on any changes in legislation.
The Board has established sev¢ral ¢OnJni￿s to loc&at sp￿]fiC a5￿ts of thecharity aJMI theyrqxmt
back to the main Board of TNst¢¢s.
The Bishop andemployees oftheDiocesewish to acknowledge the contiibutionmade by th¢ TrL
and the support that they give to the Diocese in terms of both skill5 and time.
A list of the TTUSt¢es and the key committees of the Diocese are set out below.
Charitable Company:
Clifton Dioc¢se
St Ambrose
North Road
Leigh Woods
BIistol BS8 3PW
Trustees of Cllfton Diocese:
Rigbt Reverend Bosco MacDonald. Bishop of C]iftoll (Chair) (Appointed 08105r2024)
Risht Rev¢rend Declan Lan& Bishop Em¢ritys of Clifton (Chair) (Resi￿ed 08105r2024)
Rev. ￿. Canon William Slattery VG (Vice Chair)
Rev. Canon Colin Mason VG
Rev. Canon Richard Dwyer
Rev. Callon John CutLnsngbam
R¢v. David Mills
Rev. St¢phen Boughton
Dr Mi¢hacl Thompson
Mr Patrick Gravcs
Mr Richard Ashby
Clifvn DlotesÉAnnualReport 2023

Ik Timothy Coyle (Resigned 30A)8r2023)
Ms Ann-marie Wykes (Appointed 12112f2023)
Ms ￿U]Se-mar1e M¢Donald (Appointed 12112r2023)
Mr John Shipsey (Appoint¢d 02102r2024)
Ms Sara Marsh (Appoini¢d 07102f2024)
Minute Se¢retary to the Tr￿tee5.
Miss Sharon Owen
Prlvate Secretary to the Biihop:
Miss Alessla Dini
sU￿c￿mMIttees and CouncJJ8
The tnembers of the eight ￿￿]ll sub40n)mittees are as follows (Th￿te¢S dclloted with (T)).
The Audlt & Rlsk Conunhtst:
R¢v. St¢pben Bougbton CT) (Chair)
Rev. Mgr. Canon William Slattery VG
R¢v. Callon Colin Mason VG (])
Rev. Canon Jobn cUnnin￿￿m (T)
Dr Tim Coyl¢ (D (Resigned 30108r2023)
Mr John Shipsey (T) (Appointed 02102r2024)
Mr John Kyffin
This Committee is composed of a minimwn of 3 Trustees and I lay member. The Chi¢f Operthg
Officer and Di{￿￿an Financial Adtllinistrator IHeadofFinauc< as well as onLY a year the l¢adpart
and audit manager from our Auditors, arc ID attendaTh￿. li m¢¢ts 3 tiJnes per year to r¢vi¢w ri
managemenL fmancial reportin& control and govcrnance.
The Investment Collunlttse:
Dr Timothy Coyle cr) (Chair) (Resigned 30108r2023)
Mr lohn Shwscy (T) (Chair) (Appointed 02102r2024)
Rev. Mgr. Canon William Slattery VG (T)
Mr Richard Ashby (T)
Ms Jenny Tozer
Ms Rosamond HaThis
This committec is composedof a minimumof 2 Trustees and 2 lay professionol membffs andme&s
withthelead InveStm￿lManagcrfr0MEV¢I￿Th PaTlncs. Thechief0￿r￿IllgOfri￿r￿￿]the
Clifv?x ￿0¢¢lEAn￿¥￿I Report 2023

Financial AdMInitht￿ IHead of Finance are in att¢Odall￿. It generally meds twice peryearbut in
volatile times has a m¢¢lw)ismin placeto meetm0refrq￿tly. The [nve￿￿tCOMrnitte¢ is * sub-
¢ommitte¢ of the Finance Committee.
The Clergy Wtlfart Committee=
Rev. David Mills m (Chair)
Rev. Canon Alall Finley
Right Reverend Bosco MacDonald, Bisbop of Clifton (Re$i8n¢d 31112r2023)
Rev. Canon Colin Mason (T)
Rev. Trevor Jolles
This ¢omn)itteerewrts to the full TruskeBoardviath¢ HR Cfdnmitte& ItdeaL8 with the welfare of all
¢l¢r8y but particularlythose who due to age, infirniity or othu ¢ircU]nSta￿￿$, need assistanc& The
Chi¢f Op¢r&ting offic￿ and Diocesan Management Accountant are in attendance.
The Property Committee:
Rev. David Mills m (Cbair)
Rev. Canon Colin Mason VG (T)
Rev. Stephen Boughton (D
Mr Richard Ashby (T)
Ms Louis¢-fvtsrie McDoD&ld m (Appointed 12112f2023)
Ms Sara Marskn (T) (Appointed 07102f2024)
This wmmittee is composed of a minimum of 4 Trust¢¢s with the Head of Property Services, Chrf
Op¢TatingOffi¢ff and the DiocesanFiDancial Adminitrdtff l Head of Finance in attendpnct. Its ro
is to look at all property related issuesin parish& and to give approvdl f(r small works (up to £31X)k)
aad where possible to makerec0mn￿thtion to the mainBoard for apwovaI on works oveTthis litrrit
The Property Committ¢¢ g¢n¢rally meets 6 times a year. The Head of Property se￿ICe8 and Ihe
Diocesan Financial Administrator l Head of Finance have a fuTth¢r delegatsd respon&bi]ity p￿ a
schcdule approved by Trnste¢s.
The HR Committee:
Ri￿l Reverend Bosco MacDonald. Bishop of CliftoD (Chair) {Appointed 08A)512024)
Ri8bt Reverend Dcclan Lan& Bishop Emeriths of Clifton (Chair) (D (Resigned 08A)5r2024)
Rev. ￿. Canon William Slattery VG (T)
Rev. Canon Colin Mason VG (D
Mr Nigel Cook
Siobhan Killsman (Appointed 27mir2023)
This committee is composed of 3 Trnstees as well as having the support of a lay professional and a
professional HR Advisor who is retained by the Dio¢¢* to giv¢ infornjation andadvice as ne¢deAL Jt
deals with all employment related issues in the Diocese. It is chaired by the Bishop with the Chrf
Clif￿￿ Dlo¢eseAnnMalReporf 2023

Operating Officer, the Executive A￿tStant to the Chief Operdting Officer and the HR Advisor
attendance.
The Flnante Committee:
Mr John Shipsey IT) (Chair) (Appointed 02102r2024)
R¢v. Mgr. Canon William Slattery VG
Rev. Canon Colin MasoD VG (T)
Rev. David Mills (D
Dr. Timothy Coyle (T) (Resi8ned 3010812024)
Mr Richard Asbby (D
Mrs Ann Tarr (ResigThed 3111212023)
This conunitteeis cojjwsedof 5 Trustr¢swith theCbiefO￿[at1llgOffi£￿ alldtheDiocesan Financial
AdministrdtorlHead of Fin￿elll attendar￿e. Itsrol¢ is to 1ookatallf￿ancere1atedi$sUeS1npa1i4￿s
alld to give approval for expeThlith (up to £3(Klk) aThi wherepossiblc to mpkerecomnrndation kn the
main Board for approval on expcT¥Jiture overthis limiL Th¢ Fin￿rC Committee generally meets 6
times a year. The Diocesan Financial Administsattr l Head of Finance has a further delegthl
responsibility per a schedule approved by Trustees.
The Health and Safety Collllllittee:
Rev. David Mills CD (￿alr)
Mr Richard Asbby (T)
This committe¢is con¥)0s￿lOf a minimumof 2 Tntstres withthechief oP￿ating0ffi¢￿. the of
Property Servic&g andthe Health and Safdy Co￿Ordinatr& in attendarny. Itme¢ts on aD ad hoc bosi8 10
review health and safety activities.
The S*feguardlDg Cou]D￿ttee.
Mr Richard Ashby (D (Chair)
Rev David Mills (T)
Deacon Paul Brandon
Dr Maamc Sarfo (Resigned 31112r2023)
Mr Patrick Graves (r)
Mrs M¢g Ryan (Appointed 28 May 2024)
The committee is compossj of a miELimum of 2 Trustrcs, a Cler￿ repr¢s¢ntstive with safeguarding
experience atsj one indytmlart safe8u¥ding ¢AF¢rt. Itgenerally meds 6 times a year, with the Chrf
Op¢r4ting Officer and Diocesan Safeguarding Coordinator in attendaDc¢. Its role is to review the
perfomunce ofthe Diocese in Safe￿dIng rnatte￿ to ensuTr thatit is operatingwithin the standa
policies alld procedures of the Catholic Safeguarding Standards Agency.
Clifvn Dioeesf A•n¥al Report 2023
10

TRUSTEES, REPORT
Clifton Cxtholic Diocesan Edu¢2tion Foundation l Academy Projvt Board
This is a company limited by guarant¢¢ and th¢ Board of Directors compis£g of the TTUSt¢s wth
education experi￿¢¢,the Chi¢f Operdtingofficu, the Director of Schools & Colleges. the Schoob
Partnership OffI￿r and an indePe￿kntedWatioJlll e4xrt. Its rol¢ focu*$on twokcy5 areas. hoklmg
the Diocesan acad¢mi¢s to account under its remit as a corporate member considering and
approving applicatio￿8 forDi(wan sd)(ds to convert intomulti acadanylTusts. The Bcmrdgenera
meets 6 times a year.
Coun¢il of Priests
The priests in this body med at least tsvice peryear to advise aThl dtsLus% with the Bishco & varnty of
pastoral i55ues that are relevant to the Dioc¢s¢.
Dio¢e8an Pastoral Coun¢ll
This ¢oun¢il is ¢omposedof lay and clerical members fmm aroundthe Diocese. togctherwith son
staff fromth¢ centsal depOfima￿&. It meets as required to look at stsategic planningto dealwith t
pastoral needs of div¢rs¢ Communities that make up our parish¢s and deaneries.
Bishop'8 Cowicll
This confidffltial coullcil is comp(￿1 of the 2 vica￿ Genaal aThl the Judicial Vi¢Ar (all of whom
Trustees) who meet with Ihe Bishop to discuss any aspectsof the life of the Dioc¢s¢ thatthe Bisbop
wishes to aiT with them. 11 generallyme¢ts M(￿thEy.andthe Chief OpffatingOffi¢¢ris in attendanc&
Pastoral Mattagetnent
The Bishop is Si4)portedin his pastiKal lea<krship of theDio(tse by two VIC￿ General. The Bithopi4
advised bythe Bishop's COU￿11 aDdtheChaptsYofCallo￿%. Tr cou[￿]1 of Priestsprovides the linkkn
the parish priests and deall¢ries.
The Bishop also undertok¢s partsh visitatioL8, visits to schools and pr¢sid¢s over annual Dioc&wi
events suchas the Rite of Electi￿,the Chri5tnMass. the Pilgrimage to Gla8toniwy and the Dioc￿￿
Day.
Curla
The TDJStees and Committees are supp(rt￿ ID theirwork bythe Curia. The Curial comprisesseveral
departtnents that worktog¢th¢rto provith a rolmt andCff￿tiVe administrativestycture to suFwrt Ihe
p￿iSheS and ￿h0O7$ and provide day to day support for the deliv￿ of pastornl aims.
CllJknn DiocexeAnnualReport 2023
ij

Senior Management Team
Mrs Lyn Munxy- Chief Operating Offittr
Mrs Mary Cox - Direclor of Schoo]s and ColleEes
Ms Rebecca Cawsey - Safeguarding Coordinator (Resi￿ed 29109f2023)
MTS Janice Pearson - Saf¢guardillg Coordinator (Appointed 0410912023)
Mr Simon Husscy- Diocesart Financial Admi￿trator l Head of Finance
Mrs Jo LoDg- Head of Propety Servi¢¢s
Miss Sarah Adams- Director of Adult FAlucation and EvaDgelisation
Nfr Philip GiTr*bons - Communications Offic¢r
Remuneratioll Policy
Remunerationforthe seniLY maDag¢twtteam is detern￿dbY the HRCommitt¢eby be￿IlMa[king
roles against similar positions in other Dioc¢scs and the charity sector. with the aim to attrnct, retain
and motivat¢ a tslentsd leadership team which focuscd Oll supporting deliv¢ry of the Dioce
mission.
Dloeesan Departments
Aduli Educatlon & Evangelisatlon
This team supports andpronM*es all aspe£tsofCatholic edwationand fornution. Itworks to promot
all understandingandimplem￿tatsOnofth¢ Genetd DireL*ory for C*eth¢sis aJMI the Rite of Chrisli
Initiation of Adults as the model forall wr4mentsi preparatio￿ It also provides support in are&s of
marriage and famity life and youth mxtiisty. The Diocesan Liturgy Office, working within the
departmenL also provides forn)ation. support and development of the liturgical life of parishes.
Safeguardln%
The Safeguarding team works for the PTOtectirn and safdy of all and specifically for childru) ond
vu]nerable adults with whom theDioc&8e has contact or forwlK)m itha5 rcsponsibility. The team al
oversees the safe recruilmcnt and safeguarding training for clergy. employees and volunteers.
S¢hool Colleges
This department both advises the TTU5tccs of all aspects of educati￿ and works closely with the
Catholic staff of the school and Colleges of the Diocese. It also h&s a s¢rYice Icvel agreemenl witrL
schools to provide a range of services to eacb institution.
Clifvn ThoceieAnnkalReporr 2023
J2

Property Servlces
This d¢partmentworks bothwith the central Curial offi¢&s andthe indivithai parishes to dedwith Ihe
vastrange of issue$ associat￿ wtth ¢burth￿ and pror*rties, such as health & safetyrequiranats
ensure compliance with law. The team also supports with issues Telatingto Dio¢¢san owll￿ sdwl
buildings and land and overs¢¢s facilities management for all Curia properties.
Finan¢¢
This depaTth]¢nt deals with a muhithde of fInat￿l¥l and administrative aspects of the work of the
Diocese. Itnotonly co-oTdinat&s the central fmaa(ts a￿db￿1g￿S ofthe DiiK&%ebut italso collects all
p￿ISh shares atLddea]s with all askxcts ofGift Aidal d(￿￿ti￿S and salatias forthe indiTridualparn
and thcir staff.
Communication8
TheCommuni¢atiODS Offic¢workstOpron￿tetheaCtlYi(1￿%andtCaCh￿gS0f thechurthusingallfottr
of m¢dia. including the Diocesan website, social and Print media.
P&rtshe8
The 104 pgrishes itLtheDi0￿se delewdtstheday-trHlay administrati(rt) of thepropetyand ￿ets *) Ihe
parish priests who are advised by their paTisb fuwice committee.
Volunteers
Over 3,000 volunteeTS help in all areas of the work of th¢ Dioc¢s¢. particulaxly within the partsh
¢nvironm¢llL atMlwithLMtt their assistance the PaTish&8 c￿ldn0t funLaiotL Th¢Trn#eas. clw
employees arevery ptefid to Ihern for thetime andc0mmitm￿ltheY giv¢ to supox)rt theactivitKs of
the Dioces¢. Certain volunt¢¢Ts such a5 T￿asUre[S. School GOvern￿S and Parish Safeguthing
Representativcs arerequiredto atteTrl r¢8ularJytrainingcours&% andbricfings so thatthey are proF**
equipp¢d for their roles in the Diocese.
RELATED PARTIES
Subsidiary Charhles
The following ¢l]ariti¢s' inconK exp￿di¢￿[Ca￿Ja￿tshave i￿￿]nCI￿AcdiD the finallci￿ Stat￿nts0f
Clifton DI0￿￿, as thecharitablecompnyis the sole CorFK)rate Tntst& The anyjullts a[enotn￿]
and therefore we have not presented cntity-only fjnancial statements:
Cllfopn ThoceseAnnualReport2023
13

CHAIUTY NAME
REGisfERED NO.
Clifton Catholic Diocesan Trustees Registered
1170168-7
Edith Mary Young Memorial Fund
1170168-1
Elizabeth Lady Herbert Foundation
1170168-2
Hcavell's Roman Catholic 0￿hanIE¢ for Girls
1170168-3
Lady Anmdell of War(kMrBwu&4t for Training of 11701684
for the Roman Catho]ic Priesthood
The following chariti¢s have not been activated:
St Francis of Assisi Roman Catholic Church. Nai15ea
Clifton Diocesan Common Investment Fund
The DI0¢¢￿ of Clif￿￿ Education Trust
1170168-5
1170168-6
313215
STATEMENT OF TRUSTELS, RESPONSIBILITIES
We are reSpo￿91b1¢ f(￿preParingthcTrUSlCeg ReFKYt, the Strategic ReiKfft aThl thefmancial 5tatall￿ts
in accordallcc with applicable law and Tegu]ations.
Company law requires that weprepare the f￿￿101 s¢atenKnts foreach f￿anCIal year. U￿1CrthaI law.
we have ¢l¢¢t¢d to prepare the fIn￿￿Ka1 statements in accord￿e with United Kingdom Genua
Ac¢¢pt¢d A¢countingPractice (United Kingdom A¢¢ouDliDg S1andards and applicable law). Un4kn
company law wemust not apyrove thefllwKial statenrnts UDJ¢sswe are 5ati5fiedthat they give a tue
and fairview of the state of affairs ofthe CharitableCo￿anY and of tbeprofit or loss of the Charitabk
Company for that period. h) PTepating these financial st4l¢m¢nts, we are required to:
select suitable accounting poli¢i¢s and tb¢D appty them consistentty.
make judgements and estimates that are reasonable and ptudent.
state whetherappli¢a)le UK acwutitingsla￿ardShave been followed subjectto anymataial
departures disclosed and explained in the fmancial statements. and
prepareth¢ r￿￿￿101S￿tc￿￿ts0￿the￿X)illge0nCernb1SiSU￿lessitis iDappropri&etopre5nll
that the Charitsble CompaDy will continue ID business.
We are responsible fork¢¢piJ)gproperaccoutttitigrecorth that are suffici￿1 to 8how and explain the
Charitable Company's tranwti(ns and disclas¢ with reasonable aCQ￿Y at any time. the fmallcial
Position of the Charitable Coryanyandenable us to ensurethatthe f￿ancial statenrnts cojjwly wib
the CompaniesAct2(M)6. We areals0resFK￿SIblef(y$&f¢guarthngtheassetsoftheCbarltlblCconVllY
and hence for takingrewnable steps for the pre¥￿ti(￿anddet&tiOll of fraud andother irre8u]arittt
We are responsible fOrthemainteD￿K¢andintrgyltyOftheco￿XI[ateaDdfinaThCIa1iDfo￿nati￿lUCkthl
on the Cbaritablc Company's website. Lewlation in th¢ Uuited Kingdom governing the preparaly)n
and disKmination of financial ststements ll￿y differ from legislation in oth¢r jurisdictions.
Cliffr)n DiocueAnAualReport 2023

As far as we are aware:
There is no relevantaudit inf(Ymalionof whichthe charitable comp￿￿8&udItoTlS unawa
The Trustees have taken all steps that they oughtto hav¢ tsken to make thernselves aWa￿Or
any relevant audit infotmation and to cslablisbthatthe auditor is awar¢ of that inforniation.
This TTUStees' RetM)rt was appovalby the TnL$￿son the 4S¢Frtenknr2024 aThIsign￿I on therbd)8]f
by..
Rt. Rev. Bosco MacDonald
Bishop of Clifton
(Chairman)
Clifthn DioceseAnnualReport 2023
15

STRATEGIC REPORT
ACTIVITIES AND ACHIEVEMENTS DURING THE YEAR
K¢y areas of activity and achievement throughout the Diocese durillg the year are as follows:
The Cathedral Chwdi of &S P¢trand Paul Celeb￿ed its GoldenJubile¢with a Solemnmass
of Thanksgiving on 30 June 2023. The Mass was a very special occasion whichwas attaMI
by th¢irRoyal Highn&wA The Duke aNI D￿heSS of Glowester, civic andecunynical gues
colleY¢gues from the Curia offices andp￿lshI0￿US ofthecathedral andparishesthrougbout
Diocese.
The allnual Dioce8an pilgrimage to Inurdes was held in AugusL This was the fjrsttime that
pl1￿lmS fromthe Diocese hadtrdvelled to ￿urde8 togethtrsincc 2019 dueto the panikn
The thity-seven pilgrims includol DioC￿all clergy and parishion￿S from various partslKs
througbout the Diocese.
Care fortheenvirotm]entandourcoMnThh(￿rrernaaL￿akcYf0c￿8. wtthnwiyofowpa
committed to Sup￿tingFOpeF[anCls. encyclicaltAudato Si. Th¢ CAFOD LiveSimplyAwa
is an OPPOTtullity forpatishes and sch(x)Is to thi& Five DiiK&%an parishesandf(sur
schools havealreadya¢hiev￿l the LiveSimplyAward" elevenparish&s and two schools bav¢
started W0￿1ngtOW8rd il with a further fourparishesand thirteen schools signed up to the
scheme.
Over thity young people from the DIOC￿ travelled to Lisbon in Porn8al to attend WOOJ
Youth Day in August 2023. Duringthe lead up to th¢ ¢v¢nL fOrn￿tion sessions were hekl at
various locations around the Dioc¢s¢ iti order for the group to develop their relatioDsh4)s
tlwtrugb ¢xplorin8 their faith joumeys and prd)Ing togeth¢r. Following the WYD evetkts in
Lisbon. tbe 8roup also had the opportunty ts) take a pilgrimage to Fatima.
Episcopal Ordin8tlon
Followingthe retirement of Bishop DeclaD Lan& Bishop Bosco MacDonald was ordain￿ th¢ t¢nth
Bishop of Clifton on 8 May 2024. The Mass of OrdiDatiffl and Installation was beldat the Cathedral
Church of SS Pefrrand Paul and over l.IOOp¢(y]¢w¢￿ in att¢llda￿e incluikng 120 membffs of th¢
clergy. It was a v¢ry PTay¢rful and joyous occasion.
Deanery Structhre Chan2¢s
The nine new deajwlpastordl areaswere impl¢nrntol on I ScptanLrr2023 with the aimto slipp
parishes ID sharingresouresand gifts so thaitheycontTnue to be pl￿$ of w¢lcom¢ andhope, alld b)
focus on deep￿]Dgpr￿Yer, enablingcommuDio￿ ard strengthfflingmissicqL Each pastoral are4 wliKh
is named aftera Dioces3nsainLwill fo¢us ondetern)ts)ing the p￿OrdI neixts ofthe area andthe wtiler
community to support the mission of the Church.
Deanery / Pastoral areas
St Edmund of Abingdon- the Bristol area
St Alexander Briant- south-west Bristol and surrounding areas
St Ken¢lm- Cb¢lfrnham alld surrounding areas
St Wulston - Gloucestrsbir¢ and South Gloucestetshire areas
Clifvn D¥oceseAnnual Report 2023
16

rnTEGIC REK)RT
St Aldhelm- Swindon and surrounding area5
St Oliv¢r Plunkett- Bath, Chippenham. From¢ and surroundillg 8reas
Blessed Richard Whiting- Giastonbury and sU￿}unding areas
St Edith Wilton - Salisbury and surrounding ar
St Dunstan - Weston-super-mare. Taunton and sum)unding areas
Clergy Supp)rt
Three semiDariaThsare CU￿entlY in f0rnknti￿ for the￿le*hO0df￿th¢DI￿CSe. Thvo are intheir
year at St Mary's Coll¢ge. Oscott and one in the fjrstyear of fornjatiL￿at Pontifical BedaCoI1e￿ in
Rome.
Vocationsto the Pern)anent Dia¢otJal¢ contillueto be stron& Two S￿d¢nts are due to be oTdaIn￿in
September2￿ andth¢r¢ar¢ el¢ven students currendy in fom]aticM). three sthiknts in the4r fourihyear
of studies. three in the third year,two in the second year andthree startingthe frstyearin Septmber
2024. There are alsoa furtl￿re1gbt indivi(knais WIK) are to COTrnnffl(z the initial disC￿nm￿t s*.
The Diaconateprogrdme continuesto drnw on skills andability fromboth withAn andoutside of the
Diocese to $14)wrtthe candidatas on their joumey of fOrn]atiO￿ atyl toknaardg f(rming and shaping tl
hearts to b¢ icons of service for our p￿]Sh ¢ommuniti¢s and Diocese.
Throughoutthe year nineDio¢aan priebts celeErat&] theirordination jubll¢s. Two priests celebratd
theirDiamondJubil¢es,on¢aGold¢nJubilee.oneaRUbyJubik¢a￿IfJVgpricStsCelCbIatcdthe1rSIfv
JubJl¢¢s.
Educ8tion
The Diocesan School Strat¢gy remains a key priority. Bishop Bosco m￿Don￿ld addreswj the
Headt¢a¢h¢rs and chai￿ of Governor5 ofthe VoluntaryAidedscknols and Sixth Fornicollege in Juty
2024 and confirmsj his vision for all sch￿1$tO transfrrinto (tleof thethree DI￿esan Multi-Acad¢my
Trusts. The importance of secuiingcatholiceducationin the Diocese was stressed, as good Cathol
schools pIay a ctu¢ial role in theedwatiordl missionof th¢ Churth. Catholic s¢lK>ols play theirpart ni
this mission by supportillgpaThts in forn)ation of theirchildren. The growth plan forthe three Mulli-
Academy Trust5 was presented with details of the p1alln￿ limiDg5 for schwls and the Sixth Fomi
college to transfer into tbeir deSi￿ated Trngts by the eDd of January 2027.
The three TTusts are already on tkiigromh pl￿ with the Dun*aDCatknlicEdwational
now comprisingt¢n primary scknlswith a furth¢ro￿ likelyto join on l January 2025. The Ca￿inal
Newman Educational Trnsl is CUTrendy bome to four Primary schools. with another joining on I
Scptember 2024 aJNJ two a￿ltiOnaLprInwY $th￿l$ by l Jalwary 2025. Asa newly fornrdTrnst ofstr
primary 8¢hools. the Little Way Catholic Edu¢atifflal T￿￿twIll commence its growth plans in 2025.
with additional ￿h0O1$ starting to transfer in April 2025.
The RcgioDal Schoo]s commissio￿T. the Regional DeliveryDirectordte and the Diocasw S¢h(K¥k &
Colleges team Contin￿ to me¢ton a regularbasi5 to supwrt the ongoing enEagcmeDtwith the ￿h0o1
partnerships and to provide spe£ific suppth to indiNrydual s¢iby)Is as necessary. CU￿¢￿tlY OV￿ 85/0 of
Diocesan schools are rdted Good or above under Ihc Ofsted framework.
Duting the 2023 12024 academieyear. fourteen Dioce￿ schools have been Inspect￿ u￿1¢y the
National Inspection Framework for Catholic schools. The Framework fo¢uKs on measuring t
Catholic ethos of all Catholi¢ s¢hools withinEngland and Wales on a consistem basis and930/o ofthe
Diocesan schools inspected during the year have b¢¢n rated Good or above.
Cllfvn ThoceseAnnuulReport 2023
J7

STRATEGIC REPORT
The three.year ¥r0￿COf £5mcapitai atFt¥Jiture onour v0lityryai￿scR￿]S is ￿>ntIllU￿g8lU1
to date £4.2m has been allo¢at¢d to building pmjects.
Pastoral and Formatlon Acdvldes
The provisionof a V￿lety0rpM8t(1al andfornjatim activitiesha8 f￿lIllateath[oU￿ovI Ihe year,
together with various ¢v¢nts. The Diocesan Day of FonnatioD, which was atteDd¢d by over 200
delegates. explored bow the Dine new Pastoral Areas could start to collaborate and support onc
another. The all￿￿al pilgrimage to the Shrine ofour Ladyin Glastonbwy was also a great suc￿￿￿ aThl
plI￿lmS who were unable to attend in p¢r50n were abl¢ to follow online remotsly.
ThePastoralMinistyCourse forthe laitylinkaltytheunivetsityofLoyolainChi¢a80 isongoitigwth
ven $tuLkns now in their se(xind yearof studi¢& Four of the sth(knts ar¢ part fundcd bytheDioca
three are Self-￿T￿le¢1 The DioLYsan FornLIti(m Ccrtifi(3te in P&storal Ministy Skills conlnu&% *)
be popular with thirteen indivith]als uoikrtakingthe L¥)urs& Both of the5¢c￿￿SeS provide follnalM)n h)
equip individuals to support the pastordl needs of their parishes.
VaTiOussessi0￿SbaVebeenfaCI]iratedby th¢Departtt*lltofAdu]tEducation& Evangeli8ationwiththe
aim of providingongoing fonnation andcatr£hesis. These1ncl￿Ic all Online Retreat for LenL Th¢Joy
of the Gospel Cate¢hist Day. LCntenRec￿clliat10Th se￿i¢¢s, Adv￿tprdY￿ andMarria8e and Fanthy
Life resour¢e8.
The Dtocese (x>ntinuesto b¢ ¢ngag&l iti the wWldwideSy￿di￿ltxat￿l by POF Fra￿ls andis fo￿￿1n8
on what it means tob¢a Sy￿181 Church. EnLX)wawg indivithjals to communicat¢ ajxl di3￿MthI￿u
spiritual listening COnve￿atiL￿s1s a key activity as this approach will supportparishes and deane￿6
working together collaboTativ¢ly to move forward with p]aDDing for the future.
Property
Ongoingmaintenanceofparish churc￿$ andbuildings is a key foc￿. with many parishesulldertd(mg
WOTks highlightedbyquinquenDialrep(rts, aswellasvariou8refurbishmentpToject& Work8undert
at St Nicholas of Tolentino included in￿lIation of rdnw to tbe Churc￿ & d￿abled toil¢t and mf
repairs. The Cathedral Churthof SS Peter arkd Paul has upgtadedthe front cathedral carpark and
BonaVell￿re has installed a new altar.
Fillancial rlsk n￿ll*gement objectiv
As described in tb¢ Tn￿te¢s. repor¢ the Charitable Company has esthblished a risk and financml
management fTamewtrkwba5e prillkryobj￿tive$aTc to protertthe CharitabLeCompany from evthts
that hinder the a¢hIeve￿t0f the Cbaritablecompany's objectivcs. Th¢ Charitable Company hasno
operatioDS outside of the UK and is not exposedto moVeM￿ts in exchange rates, and therefore do¢s
not ent¢r into transactioA8 with derivative instruma)ts. Cash flow and liquidity risk is covered by
forecastingand managenKnt of cash. The Charitsble Company has no si8ttificant individual debiKMS
and therefore limited credit risk.
Key aregs of work for tbe future
To promot¢ fundralsingactivities f(￿clergyTTal￿]D8 8Ddthe Prie￿ Retirement Fun￿ tO8¢th¢r
with a l¢ga¢y campaigtL to SUPPOrt fubjre donations.
Cliftsn DioceseAnnualReport 2023
18

STRATEGIC REPORT
To ¢ncoura8e vocatiffls within the Diocese and to WO￿ wilh the Vocations t¢am to bring
fonvard candidates for the priesthood.
To Support the nine deaneri85 Ipast(nl arw with their collaborative working and activety
cncourdge interaction with th¢ lay faithful to p]an for f¢wer pri¢sts within the parishes.
To contitiue to cncourage and support paTishes to work towards achieving the CAFOD
Livesimply award &s an opportimity to demonstrate care for our common home.
To actively engage in the2025Jubil¢e Year- Pl1￿ of H￿eWith th¢opfflll)gof two Holy
Doors at the Cathcdral Chutchof SS P¢*r and Paul in Clifton and Our IAdy of St Mary of
Glastonbury.
FINANCIAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
TheFinancialStstano]tshavebeenprwaruJiD aC(xy￿arKewithth¢prin¢1p1cS¢ontsln￿iti thestafrment
of Re￿mmen(￿l PraL*l￿ for Clwitrs{SOIiP 2015) (Second Edition, eff￿tive l January2019)-iwed
by the Charity commis￿onerS forEnglandatsJWales atMI in aC0)rda]￿ with the a￿o￿ti08p0kc￿
out in note I to the Financial Statements.
The Financial Statemthts do not include any Val￿ for school protaties. Truste￿ con&d¢rthat no
meanin￿1 value can be attributed to these sincc they are not used d]r￿tlY by th¢ Ch￿itab￿
Company. Theydonotgenerateinc(MJx ardcarwtbedisP)s￿ofjntheo￿Imarket0TpUtto alten)ativ¢
use whil¢ such occupation, which may b¢ indefmite. conlillues.
Curial incorne includas thep8r1thsh￿y.whIth1s a contnlution fr(Anth¢ DiwesanparishestowallLs the
nning ¢o&s of theCuri& IÉ is presfflted in the published accounts as a'transfer between funds"
Total Curial Incon￿ was low¢t in 2023 at£l.131kc0n￿[￿to £2.176kin 2021 as a ontroff lewof
over £1 Million Increas￿ income iti 2022. Th¢re was an overall su4)lus of £533k on fixed ass&
inv¢stmarts in 2023 comEwed to a deficit of £1.171k in 2022. Inchmkd in the2023 investment suwbjs
was a £25k ill(Te￿ intherevaMati(m of invcstThth p￿t￿leS (£20kin 2022). The investntht
gen¢rated inveslment income of £206k in 2023 (2022: £207k).
Total Curial expenditurewas £5.691k(2022.. £3.738kl This increase is due to plann￿expayJlth of
£2.4 million fmm Restrictd fwxl& In spite of the ongoing decisions to drawdown on Reserv4 Ihe
Trustees are confident that the Diocese continues to be a going concern.
Ov¢rall. Curial Funds decreased in the year by £2,381k (2022: decrease of £1,785k).
Total Curial Funds asat 31 D￿ernI￿￿23 wff¢ £19,415k(2022: £21.796k) of which£lO.962k (20ll:
£10.754k) were Ur￿estrICt￿1. Fixed a&sets a¢couDt for £3,828k(2022: £3.677k) oftot81 Curial Funds
of which £3,615k (2022.. £3.457k) is unrestrict&J. Totalcurial Funds inclllde £1.062k{2022: £877k)
net balances due fmm parishes.
Clilbn ThoceseAnnuol Report2023
19

Paroeblal Funds
The unTaStrrt&l offertory, donatio￿arKI lega¢i¢s f(rtheyearwas £6.036k(2022: £7J77k),Mrylh
the main reason forth¢ decrease d￿10 twolarge l¢ga¢iesreceivryJduring2022. Income from clwitable
a¢tiviti¢s. includiDg fundrdising itiLX)mewas £1219k (2022.. £1.816kl Otber in(xime of £1S07k (2022:
£476k) 15 higherdueto tb¢sakof St Joseph's C¢Dtr¢ in Seil)ury aDJ OurLadyHelp ofchristi
Mass Centre in Bourtonthon-the Water. Therc wcre no property sales undet14ken during 2022.
Th¢ charitablee4KThliturebytheparnhesw&8 highff iti 21123 * £7.682k(2022: £6.782k). a131/10
increase on 2022 wbich is due to higher utility and maintenance costs.
Oycrall, Parish Funds inC￿2$¢d in thc year by £1.052k (2022: £1.815k).
TotalParishFunds asat31 DeCem￿r2023amthjntcdtO £33.O21k(2￿￿: £31.975k)ofwhich£32J89k
(2022:£31,126k)wasuntestricte(L Fr¢¢holdlatyJandbuildin￿acCCrtmtf(r£14.o72k[2￿2.£14,736k}
of total Parish Funds. all of which is unrestricted.
INVESTMKNT POWERS
The TThst Deed authuyses the Truth￿ to makeandbold1nv¢Stn￿ts U5iDgthe fUt￿50f the ch￿itybk
Company will￿t anyr￿tri&l0￿￿. acLxthg to th¢ law forth¢lirnebeTngin fO￿e a￿1 in th¢pWCb￿ of
real prop￿Of any nattuE ortenurt tn C￿Qfpn￿tybe1dasp￿tht ¢￿10}yMa￿.ll0 invastr￿t
maybem8d¢in anym0nnttnotaud￿l￿dby0rWithrmrtSuchc0n$entT¢q￿rd bytheinstnnnent¢reatittg
the perniauent e￿w￿nI andno s&leoT exthange of realpTOIKrty sb811 bema&without the(x)rkwtof
the Charity Commissioners and the Companies Act 2006.
lllvestment Policy and PerfornwDce
Investments are managed by Evelyn Par(ners on a discretionary basis. The aim of the inveslD
portfolioisto maintsjnthepurchasirgpowtrofthccapitslwhilstgen￿atll1g8n inCon￿streartL Gthernl
Dio¢esall deposits ale inV￿ted]n asp￿￿ of short-knbaDkdqJosiLs In 2014a S￿ond￿Y inve51nMt
portfoliowa5 establishedwith asmall¢rprop*xtiOllofequitiesthanth¢mainportfoliointhe anticipati)n
of gencrating better returns than fix¢d intcr¢st deposits.
Th¢ Investment Committ¢e reviews the perfomi8nc¢ of the main portfolio agdinst th¢ approprnt
indices. The primarybenchnth index is RPI with a secondarybencFm]th of the APCIMS Balanc
Ind¢x. Excluding additional itLvestDrnL the underlying fuDls iticreasal in value by 7.70/0 (yield and
capitslgrowtb). The Tru#e&% r¢maInc(￿fidelltthatth¢p¢rfQrn1￿edeM￿￿]edbYthelnyethentpo]ry
will continue to be aChI￿¢d against the backdrop of a currently volatile market
The Investhxnt Committe¢ contin￿St0 invc4t Di(￿￿8Th￿t￿￿ in ac(xT&￿% withanethi¢al poli￿. Th¢
policy avoids illvestn￿Iin Con¥￿ie$ providing abortionsetv¢es aThl related activities ard compari
thatgenerdterno￿ than IYO ofrevenue fiDrn a)ntrdLWtl￿.h1&h int￿stIate lawJin& adult entetsi
and non-¢onventionaJ weapons.
Direct investm￿tIll C(Kn￿liesWhK￿o￿￿ f(wil r¢w4esor that get￿rate morethan 5Yo ofAEvenue
from fossil fuel energy generation, is avoided.
Cliftyn DioceseAnnualReport 2023
20

It also avoids investnKnt in compani&s that generntc more than IOO/• of reve￿ frcfjn convenlu)
weapons and weapon systems, alcohol and tobacco production and gambling.
The Trusteesrequire th¢ ￿ndm￿l￿get$ tocon8itsth¢ followiDgareasatyJavoxl investing in CO￿?￿
that fall short of r¢l¢vanl industy prnctice:
Human rights
Gender and wial discrimination
Environmental controversies
RESERVES POLICY
The freereserves hekl by the CharAtabl¢ Comtw a￿ th￿efi￿ that ar¢f￿dYayalI*b￿ to be spt in
pursuingthe C￿ltableCOm[thry's pu1￿$¢.Tan￿ble r￿eda￿.p￿mat￿llt¢nd0￿ restric*dand
desigTh&ted fullds are not included in fr￿ resuves.
Th¢ fr¢¢ reserves of the Charitable Company at th¢ fmancial year-end were:
2023
£'ooo
52,442
2022
£'ooo
53.771
Totsl Funds
Less: Pcrnianent Endowmalt FU￿￿8
Restricted Funds
DesigtLated Funds
Tangible Fix¢d Assets
(898)
(8,193)
(3,658)
(17,687)
(853)
(11.038)
(4.543)
(18.193)
Free Reserves of the Charity
22,006
19,144
The Trustees caTefi]Uymonitortbe level of free re8ffYffi as partof theirlonger4emi fmaDcialpkning
which inclu(ksnotonlythe on-goingprogramnKofprLytyrepaI￿ andnw builds but also a ten-year
pr0￿MM¢0f sch￿15. ex￿dItur& SUI￿rman￿8¢￿CDt onbeha]f of tr£TnLsL¢¢s alsomonikn Ixth OD a
day-to-day basis to ensure liquid funds are available for routine expenditure.
In view of the ll&￿Te of the ChaTitsble Com￿ny. th¢ TN8teesconsider that the holdiJ)8 of r¢s¢ryes iq
n¢¢¢ssaryto provide a bUfferagai￿8t5b0rt-￿rnI fluctUati￿S ill incomeand expe￿Ilture andto p¥ovyle
suffici￿1 re9)U￿eS to implementlong-temi ￿0je￿£ ￿1¢barebYthe]rnatUreu￿yIt￿ in ￿￿1rrI￿￿l
effecL Thetin)yngof (all for Di￿san fillmls forthes¢lKK)Is'buildingpTogrdmme will depa)don the
availability of funding by the Education Funding Authority.
Free Teserves have increased by £2.862k dwing the year. The free reserv&% repreS￿t 26 months of
recU￿lDg unrestrKtAI ex￿￿ltUre{2o22. 25 m(Mths). In the light of thelong-tm Cha￿teriStICS of d
expendits￿ planthe Trustee8considerthat the Cb8ritableCollwanyshould maintsinfreer¢scrv¢sof at
least 24 tnonths. recutrillg unrestiicted expendityr¢.
Clifton ThoceseAnnuolReport2023
21

SIRATEGIC REPORT
The paro¢bi81 fre¢reseThes fOrni£l8￿lIk (2022: £16,IWk) of thetotal £22.0(fft (2022: £19.144kl tt
should also be Dotrd that whilst the balall￿ 5h¢# show8.cash P4t bank and sbort-tam depisits- of
£17.596k(2022.. £18,321 k). thisbalance in¢luiks sal¢ prOCe￿80f £2.539k (2022: £4.790k) hekl for
future schools building proJ￿ts and other funds h¢ld for restricted purposes.
This Strategic ReporL w&s awmvoJbytheTru*es on the 4SeF*eroiu21Y24 aDd$W￿On Iheirbebalf
by..
Rt. Rev. Bosco Ma¢Donald
Bishop of Clifton
(Chairn)an)
ClifvpL Dlo¢e¥eAnnualReport 2023
22

AUDITOR'S RETh)RT
ndepemdent luditor's report to the Dwmbers of Clifton Diocese
Oplnlon
We have audital the f￿￿la1 statements of Clifton Diocese for the year ended 31 Dec&nber 2￿23
which comptisE the Statement of Financial Activiti¢& Balance SheeL Statern￿l of Cash Flows and
otes to the fll]a1￿1al statcrnents.including & sumnwy of sigThifiCantacLXM￿II￿gpolIc1¢￿. The fllwicial
reporting frdrnew￿kthat has b¢¢nAppliedin theirpreparation is appli¢abl¢ law andUnitedKinglom
Accounting Standards, includingFIll￿￿ia1Rep0rtIllg Stalltsd 102 TheFinancialReportingStandard
applieqble in the UK and Republic of Ireland (United Kingdom Genernlly Accepted Accou11￿g
Practice).
In our opinion. the fjnancial stat¢meats:
giv¢ a tru¢ and fair vi¢w of the state of the chaTitsblecompany's affairs as of 31 Decth
2023 and of the charitable compan￿$ net movement ill fuDrl8, including the income a￿1
expendithre, for the year then ended.
have been prepared in a¢cordaDc¢ with United Kingdom Generally Acceptrd Accounkng
Pra¢ti¢¢" attd
have been prepared in accordance with the requirements of the Companies Act 2006.
B*sl$ for opinion
We conduded ouraudit in acL¥)rdall(z withtnternational Standardq ￿ A￿LlIng{UK) (ISAs(UK))and
applicable law. Our responsll)ilities under those standards aTe further described in th¢ Auditor's
responsibilities for the audit of the fmancial state￿*llts se£tiOD of ourrewtrrt. We ar¢ indeFAknt of Ihe
charity in accordance with the ethical requirements that ar¢ r¢l¢vant to our audit of the financRI
statements in the UK, In¢l￿dIngthe FRC'S Ethical Standard. and we bavc fuifilledourother ethi
r¢spon8ibilities in accor(knce with thes¢ requira￿l￿. We believe that the audit evide￿¢ we hav¢
obtained is suffi¢ien¢ and appropriate to provide a basi5 for our opinion.
Coneluslon$ relating to going concern
In auditing the fmaDciai Staten￿nts.We haye co￿1￿￿1 thatthetru&ees' use ofthe goingc0￿￿1￿1i1
of a¢¢ountin8 in the prepardtion of the financial statements is appropriate.
Based on the work we have perforn*￿ w¢ have Dot identified any material uncettiiDti¢s relating
events or conditions tha( individually or collectivety. may cast significant doubt on the charitabk
company's abillty to continue as a goingconcqn foi a p¢ri(Klof at leasttwelve months fromwheThlh¢
financial statenjents authoTised for issue.
Ourresponsilyilities And thcrespLNLs1biliti￿ ofthe truStr￿ witb respecl to going conLZrn aT¢ de￿￿Tr
in the relevant sections of this reporL
Other informadon
The bvstee8 arerc&potL%iblefor the Oth￿ infornJation.The othtr information (ximprisesthe inforniatm
included in the Trustees. Report. Our opinim on thc f￿ancial ststements doa not cover th¢ o
inforniation and. exceptto the extentotherwise explicitly stat¢din ourr¢po¢ we do not expre&% atsy
fomi of assurance conclusion thereon.
In connection with our audit of the fmancial 5tatemen4 our responsibility is to ffad the oth
inforniation indoing so. consi&rwhetherthe other inforn)atÉon is materially inci￿51stentwith the
financiai statements. or our knowledg¢ obtainal in the audit or otherwise appears to be materlally
misslated. If we ideDtify sucb material incon8iStencies or apparalt Mat￿la1 misslatements. we a
required to deteml1newhdh￿ there is a Materialml￿atun￿t iti the financial statemats or a matani
misstatcment ofthe othu inf(mlltion. If. i￿Sed OD the wo& wehave w¢ ¢oncludcthat ther¢
is an￿te￿alM1sStatcm￿tOfth1s0th￿1nfOllnali0￿ w¢aTer¢quirolto rep0xthatf￿t. Wehavenothmg
to report in this regdrd.
Clifiav IAo¢eseAnnualRqx)rt 2023
23

AUDITOR'S REPORT
OplnloDS Oll Other ￿￿tter8 presenl>ed by the Companie8 Act 2006
In our Opillion, based on the work undertaken in the course of the audit:
the inforn)ation given in the Trustees. Report (whi¢h includes the strntegic report and the
directors, reprtpreprnl forthepurwksesof¢(ryauy l&w) forthe fin￿la1 yeaT forwbich the
financial statements are prepared is consistent with the f￿aTr¢I&l statements" and
the strategic report and the dir¢ctors' reportincluded within th¢ T￿￿te¢s. Reporthave I
piepared in ac¢ordattce with applicable legal requiren)ents.
Matters oll whl¢h we are required to re￿rt by eiceptlon
En the light oftheknowlulgeandundastand￿g0f thecharitablecompanyand its¢J)vircfflmattobtsill
in th¢ course of the audil. we have n(rt identified materia] misstatenKnts in theTrus*es' Report
incorporatss the strate8i¢ report and the directors. report).
We have nothingto Teport in re8peL# of the followingmattersitt rclation to which the convani￿ Act
2006 requires us lo report to you if, in our opinion:
ad¢quatrac¢(wttit￿ records havenotbeenkWbYth¢ch￿Itab]e ￿n￿ally, or rrturns
for our audit have not been received from branches not visited by us. or
the charitable companyfman¢ial statements are not in a￿ee￿￿tW1th the accountingreo)rds
and returns. or
¢¢rtain disclosu￿5 of trustees. ￿MUneratiOn sp¢cified by law are not made. or
we have not received all the infonnation and explanations we require for our audiL
RespDnsibihties of trustees for the fiMn¢ial 5t*tements
As explained morefully in the trustees. respO￿81b)litIeS stat¢n*nt set out onpage 14 thetNstees (who
are also the directors of the charitable compaty forthe pu￿SeS0f com[￿Y law) are r¢spowftJk for
the p[￿aratioll of the fmancial statemats and for beingsatisfied that they give a true and fair view,
And for swh internal control as thelrn#eesdd¢rn]in¢ is n¢¢&ssary toenable the preEHralionof fJDar
statements that are free from D￿terIal misststmenL wbether due to fraud or e￿Or.
Iupreparingthefinoncialstatements.thetrusteesareresponsiTrJle f0rasses￿ingthech4ritabIe compw's
ability to continueas a going Conc￿ dis¢lasin& as applicable, matters Telatedto goingconcem and
usingtbe going concernbasis of accountxtigunle55the truste&s either intend to liquidatetbe ¢h￿l1abk
company or to Cease operdtions, or have no realisti¢ ah¢rnativ¢ but to do so.
Audltor's rel￿nSi7)I11ties for the gudh of the fmaDcfi*l statements
Ourobje¢tives aTe to d)tsin reas(rf)able &￿￿rance8￿Ut￿hetherthe financial statements as a a
fre¢ from material misstatcmenL whethu due to fraud orerror. and to issue an auditor's Teport that
includcs OUT Opinio￿ Rea￿Dable assurall￿ is a bi8b level of aSSUr￿ebUt is not a guardntee that gJ]
audit conducted in accordance with ISAS IUK) will always detect a material misstatement when il
exists. Misstatementscan arise fromfrdud or crror aryl are CO￿81de$￿I material if, individualty or lli the
awegate, they could Teas(M]ably be exFded to influ￿¢¢the e¢(wmic decisiotLS of users taken b
on these f￿ancial sta*m¢nts.
Irregularities. including frnwj, are instanLYS ofnon-C(Mnpliancewith laws and regulatio￿. We desy
procedures in line with ourresponsibilities. outlinej aknve, to det￿tMatcrlal misstatements in r
of iTregularities, includin8 fraud. The extcnt to which our proceduras ar¢ ¢apabl¢ of dctectmg
irr¢gulariti¢s, including fraud is detailed below:
Based on ourunderstanthngof the ch8rit8ble companyand the enVIr(￿D￿ntitt which it operate&we
id¢ntifiedthatthe principal risks of non-ci>rnpliaDce with laws and r¢gulations related to compliancc
with Canon Law. Company Act 2006. Charities Act 201 I, emplo5￿￿llt law and bealth and safw
regulations. and w¢coLsid¢roJthe extentto which non-conw]ianc¢ migbtbave a material effect on Ihe
f￿ancial ststements. We also consideralthose laws aad regulations thatbave a directimpacton the
Cliflon Thoce4eknn¥al Rewrt2O23
34

AUDITOR'S REPORT
preparntion of the financial statements such as Canon Iaw. Companies Act 2006. Charities Act 2011,
The Statement of Recommended Prn¢ti¢e for Charities (SORP 2015). FRS102 and payroll tsx¢s.
W¢ evaluated management's In￿￿tiVeS and oprK)rtuniti¢s for fraudulent manipulalion of the financial
statetnents (including the risk of override of controls) and detern]ined that the principal risks were
related to recognition of income and management bias in certsin accounting estimates. Audxt procedures
perfomed by the engagement team include41:
Insp¢ctxng trustees. minutes
Insp¢¢ting correspondence with regulators and tax authorities.
Discussions with management including consideration of known or s• inst&n¢es of non-
compliance with laws. ffgulation and fraud.
Evaluating management's controls designed to Prevent and detect irregular&ties.
Identifying and testing journal& and
Challenging assumptions and judgements made by managemenl in their Criti￿1 accounting
estimates.
Because of the inher¢nt limitations of an audAL there is a risk that w¢ will not d&*t all irregularities.
including those le￿ing to a matrrial missta¢¢ment in the financial sW¢ments or non-compliance with
r¢gulation. This risk increases the mor¢ that compliance with a law or regulation is removed from Ihe
events and transactions reflected in the financial ￿8ternents. ￿ we will be less likely to become awAr¢
of instances of non-compliance. The risk is also greater regarding iTr¢gularities occurring due to fraud
rather than error. as fraud involves intentional conc¢almenL forgery. collusion. omission. or
misrepresentation.
A fiirther description of our Tesponsibtlities for the audit of the financial statements is located on the
Financial Reportin8 Council's website &t'. www.frc.o
.uklauditor&￿s
nsibilitie5. This description
fornis part of our auditor's re￿)rt.
U8¢ of our report
This r¢Fth is made solely to the charitable company's member5. as a body? in accordanc¢ with Chapter
3 of Part 16 of the Companies A¢1 2006. Our audit WO￿ has been undertaken so th&t we might slate to
the charitable companys memixrs those matters we are required io state to them in an Auditorfs report
and for no other pu]yose. To the fullest extent Fxrmitted by law. we do not a¢cept or assume
responsibility to anyone other than the charitAbl¢ company and the charitsbl¢ company's members as a
IKJdy. for our audit work, for this reFK>rt. or for the opinions we have fortned.
Kathryn Burton (Senior Stathtory Auditor)
10 Queen Street Pla¢¢
For and on b¢half of Haysmacintyre LLP. Statutory Auditors
London
EC4R IAG
Date.. 9th September2024
Clifion DI￿¢￿¢ AnntsalRepori 2023
25

FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023
Clijion Di0￿eAn￿￿ilRe￿rt 2023
26

Inth

FINANCtAL STAIEMENTS FOR ]HE YEAR ENDED 31 DECEMBER 2023
BALANCE SHEET ASAT 31 DECEMBER 2011 for Clifton DiOc￿e Coll4Mny No. 10462076
2023
P8zor&i￿ Totsl
2022
£'Iw £'•oD
£'o(KJ
£'(M)O
FIXED ASSEts
Tao8ible fLxal &%$ets
14,072
6232
179
J8305
105
3.677
11.4Y2
15.169
14,736
5.6(K)
20J36
18,413
17.092
io
11,973
15.801
cURRF￿T ASSETS
Debt(XS
949
1.735
1.048
2.783
18J21
21.104
13.421
14.032
17
5.124
32
Cmlityrs..
withiti one ye4r
12
(2550)
(247) K7971
12.5&))
(2.816)
246
12
70
NET CURRFNfASSErs
652
13.707
IA359
6.018
18.288
TOTALASSETS LESS
18.453
34,011
5L464
21.187
53.793
13
(22)
(22)
(22)
(22)
1984)
631
(631)
NEf ASSETS
33.027
52,442
21.796
31.975
53.771
CLw]￿ Pwr*hi81 Tot*1
£'W4
Totsl
RESIFJCIED FUNDS
14
15
674
7.779
8.453
224
414
638
641
10.401
11.042
212
637
853
11.038
11.891
(193
9.091
UNRESTrICIFD FifNDS
D¢5igD8trd
Gme¥al fi]nd
16
17
6.967
3995
10.962
14.378
21J45
21006
J51
7,704
3.050
10.754
15.032
22.736
32.389
31.126
41.880
TOTALFtrNDS
19.415
33.027
52.442
21.796
31.975
53,771
The balance sheet was approved by the Board of Trustees, and authorised for issu¢. on the 4th
SeptembeT 2024 and signed on their b¢half by thc Chairnwi and Bishop. Right Reverend Bo
MacDonald:
Rt. R¢v. Bosco MacDonald
Bishop of Clifton
(Chaitman)
Cliftsrt D¢o¢ese AnnuolReport 2023
28

FINANCIAL STAIEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
STATEMENf OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023
2023
£'ooo
2022
£'ooo
Cash flow from operating a¢tiVit￿.
Net cosh provided by (used in) opernting activitiu..
20
{2,320)
207
Cash flows from Invuting acthTltles:
Divid¢nds. interest and rents fmm investsnents
Procecds from the sale of propety. plant and equipment
Purchase of propety. plant and equipmcnt
Proceeds from th¢ sale of inyeslments
lknrchase of investtnents
Investmeut Fees adjustsnent
Cash beld for investment
Net eash provided by (used in) invuting dclivitiu."
897
1.302
(244) (1,833)
4,227
3,614
(4.612) (5.762)
71
73
46
852
725
525
io
io
io
io
Change in Cash and cash equivalents in th¢ r¢pot1inE puiod..
Cash and cash equiydlentsai th¢ b¢ginningof therepixting period:
Cash and cash equivalents ai the end of Ihe reporlingperiod..
(725) (2.324)
18 321 20645
17 596 18
The notes on pages 29 to 54 forni an int¢gral part of these fmancial statements.
Cli)￿n DioceseAnnuol Report 2023
29

NOIES TO IHE FINANCIAL STATEMENIE
ACCOUNTING POLICILS
Basis of a¢¢ounthg
The fmancial statalla)ts bave beffl p￿pared in aCCCffd￿¢wtththC FinanciglReporting Stalldard
applicable in the UK and Republic of Irela￿ (FRS 102) and the StateM￿t of Recollmne
Practice forCI￿ltieS (SORP2015) {s￿￿lE411tioll, cftkdive l Jallw2019) a]xl theC(rtnpanias
A¢t2016
The Charity is a Public Benefit Entity r¢wt¢red as a charity iti England and Wales.
The PTincipal accowttingpolicies which bave been adoEknd on a consistaht basis within that
convention are set out below.
Gokng ¢oneerA
In spite of llrneed fOrTn￿ to u%ca ￿n￿InatiOn0rdalsllthdandreStri&rd r13ave5 in 2023,
res¢rv¢levds andfuttreplaJJshavebLYnreviewedandtheTtu#¢¢s Ikaveconfi(kwethatthechaty
remaitLS agoing cowern f(r the fo￿le fillu￿ A L3thfi0wstatffl￿nthaSbetapm1ucdW)ts>
SeplemEtr 2025 to r¢fled the forec&%ts] positi￿ and the Trustees Considtr that theTe are
rnaterial uncertainti¢s regarding the charity's ability to ¢ODlinu¢ as 8 80ing concern.
Critical accoullting judgements and key sources of estill￿tiOn un¢ertalnty
In the application of theacLX)W￿lngpO1￿Ies.Tn￿tes aTerequitedto makeiudgement4 estunats
and aSstyionsaFnuttheca￿ingVOIUCOr asth aTrJ liabilitias thalaren0tT￿IIY apparent from
other sourLES. The estima￿ andund%lJing assilnVi0￿S are b￿dOll histiKid exp¢ri¢tKe&xl
other factors that are relevanL Acts￿1 results may differ from these estimates.
The ¢slim&tes and undertyiDg assumNions are reviewed on an ongoing basis. Revision5 to
accountingestiTnat&% are recognisth in the pericd in which the estimate is tevised if the revr>
aff￿tsOnlythalperic#1 orin thc p￿1￿ of therevision atylfuthTrpaiods if the revision aff￿1
current &￿j futu￿ rKri(Mts. The TnLsts CO￿$1￿ the¢slimation of lifeof fixeAassetsÈ)
anar¢aofjudgan￿ta￿d¢51Irt￿I1o￿thathaSasIgTrIficaDteffe¢tOnthe finwKi&l statanents. FuTd
detai]s on thes¢ judgen￿nts4re providcdbelow untstangibl¢ fixedassds. Inve51mentpropaty
has been valued in accordance with the poIicy noted below.
In the view of the Trust¢e& no assumptio￿ concerning the future or estimation uncerknty
af(￿tIng ￿ets or liabilitias 8t thebalaMt 5heetdate liketytoresultin a material adj'wlmi
their canying amounts in the next fjnancial year.
Income and endoTrvments
Income is Tecognised in th¢ peTiodin which the Charityis entided to receipi it is probablethat
income will be received. and th¢ amount can be measured reliabty.
Clifton DxotdteAnnualReport 2023
30

NOTES TO ]HE FINANCIAL STAIEMEN13
1. ACCOUNTING POUCIES (CONTINUED)
b&sis. Donatio￿$T¢￿IveA fortk garTal ofthe (I￿ltyarecr￿IIt￿I towYearicl&l fjJTh
Donations subject to specific wishes of the donors are Ca￿le￿ to Telev￿1 r¢8¢ricted fund8.
Legacies are acwuntAI forwbenthe o>Thliti(XLS forth¢irrrf¢xpl havebeffl rnet atMI the aDMXllrtca
be quantified with reasonable accuTacy.
DoDateda&%&s areindud&l in St*enthtofFinanLRa] A¢*iviti¢s on are￿iV3b1e basis￿$ll￿￿e
low¢r of markct value or the valu¢ ts th¢ Diocese.
Sundry grant ine(me andwts obtained on bebalf of S¢h(x)IGovern0￿ are accounted for on a
receivable basis (see Sch￿ts Acc(AJnling Policy below). FundTaisitig income is shown net of
associated costs.
Incomearising f￿rnsal&s of property is re¢Wis￿laS soonas the￿ is a b]lld￿g ￿￿een￿t. Thi%
is usualty thc date of exchange of ¢ontrdds. Howev￿. if the sale is conditional, income i
r¢cogni8ed when those conditions have b¢¢n fulfill￿.
All income fromendowmejrt furds is T¢striGtedincon*and is expendeAin accordaD2 with I
oriwl ternis of the elldowmenL
tnComefr￿] Cor(#)avimsJob Rgknti￿ SCbeme(Furl￿￿j Scheme) is treated as a Govarull￿t
GranL TheGraDt is treatd as income and the associated sa]ary costs treated as expenditure.
Exptnditure
ExpetLditureis accountalforin thepeti(MJill wh￿hthe Charityb¢comes d)ligedtomake atrd]L8f
of valueto a third party. Theirrg))v¢tabl¢ elatKnt of VATIS 1ndwI￿twithill the itemof exp￿
to which it relates.
Where an itsm of expenditurefalls d]r￿dY wthin or£ cost ￿tegOry. it is attributeAJ tothat (ale
only. Wbere CAE￿dItu[e involv¢s m(Ke than otr it i8 appOTlion￿I on a reason&bleaThJ
justifiabl¢ basis.
Grants aThldonatiOTts trocIwAtymak¢svoknn￿1Iy tooth￿ ifLstitutionsorindtvittiuLq
to further its Obj￿tiVes. Theyare chargal to the Stal¢rnEnt of Financial Activitiesin the year in
which theyare payabl& Grants a￿] donations also indude amounts paul to charltias or fil￿ or
spent on Specif￿ prOJ￿ts. The* Sun￿ havebeen collectoj fromparishionersforthese sptti
PUTpose8.
Casts ofclwii&)k activities are atuty%d li Ih¢ notes by the tytK of xtivty.
Clifrom ￿￿¢￿eAn￿¥￿lReport2tr23
31

NOTES TO THB FtNANCIAL STATEMENTS
ACCOUNTING POLICtES (CONTINUED)
Governallce in¢lud¢s the costs of mainlaining Tecords prep*ing the account4 the secretsipl
function regarding Tru$fr¢s atsd other corntni￿ meetin￿.
Employee btknefits
Short lerm benefjts
Shortterni benefits inc1￿[n￿h0lldaypaY are recogni￿daS an eXp￿&t in theperi(Ml in which
service is r¢¢¢AV¢d.
Employee terniination benefits
Tenninatioll benefits are a¢¢ounted for on an a¢ern￿ basis and in line with FRS 102.
Penslons
The Trustees desi￿ an 8mounteacbycarwhichis allocatedto the Priests. Retircmart Fund.
The Clergy W¢lfar¢ Committet which managos this fund ¢onsi&xs thc necds of priests '
retiTement and makes appropriate g￿llts.
ID additio￿ the Parishes make ¢ontnTrKttioL8 for priests to a Group Personal Pellsi￿ Scheme.
c0ntnbthi0￿5 are also paid for all ¢ligibl¢ ¢mployces by the Curia to a Defined contr&￿¢￿
Scheme. The aS￿tsOfthe Scbuwar¢heldsepMTatelyfromthoseof th¢Charity iThin&p
administrnJfun& ThePension ScherrLethwrC]r￿thts (X)ntnl￿ti0￿8payab1ebyth¢ ￿￿rtyin
accord8nce with the Tules of the SKh¢mes.
S¢hooLs
The Charity owns the land on which its v0luntsy-ald￿ sch(K)k are built. The nature of th¢
o¢¢uption ofthe18ndby theseexanpt ar¥J excwtedchariti¢s thatthe DiLK%￿T￿kn &1
nothavethepowuto dIs￿$¢0fthelanduntilthe sel￿1¢¢&$¢$1ts0C￿Jpatl￿ whKhinturnw(Athl
r¢quir¢ th¢ approval of the Secret&yof State. CotWuu￿y. forth¢ pUT￿￿e8 of these f￿￿JaI
sta*m¢nts the laDJis not(¥italI￿ Thec<x8tof aDyloth1 ¥quireAI f(￿ther￿￿0￿50f a vokn
aided ￿h0o1 is charged to the statement of fjrkancial activities in the year of acquisition.
whereithasbeenag￿awlthth¢SClKlo1GOvern￿sand the Dw•bn￿tfoTEdu(ati0nthata￿hooI
propety aThl the iandonwhich it is sited is surp1￿9 to requirements. the Sh￿ of the duc
to the Departsn￿t for FAu￿tiOn and any othff int￿t￿l partiag is netted off the total ¥mount
receivable. TherefoTA amount due to theChaTity is C￿di￿1￿ the Ststayjent of Fin8JThl
Activities.
Thc school buildings are oca]piot inyovol &ttaKkdardrepairalbythe sthool goV￿￿)r& The
nature of theottuixtion of th&%¢buildings.byth&seeX￿lardex¢tyd th￿lties. M￿￿that Ihe
Dio¢esall Trustets do not havecontrol ovtrthe buildingsuntilthe schwl ¢¢as¢s its o¢¢upa
which in tum w(M]Id requir¢th¢ aWToval of the Se(¥thyof State. Co￿qU￿tIy. f￿the pU￿oSe
Clifbn ThoceseknnudReport 2023
32

N01ES TO IHE F￿ANCIAL STATE￿EN]5
ACCOiJNTING POLICIES (CONTINUED)
of these financial statO￿ts anycostofnuv buildi)g is TrTitteD off to the S￿teM￿tOf Finallciai
Activities in the year in which it is incurred.
Any srants donat￿0￿ bdulf ofthe khrK)l GovenKKs arenetkd off again# total costs&s Ihe
sums r¢c¢iv¢d through the Volunlary ContriEwtiow Scheme IVCS)" only the ￿sIdUal cost .
included in the Siatement of Financial Activities.
The Dioc&%eof Cliftcn ]￿luts 27 (2022: 35) maintsir¢d ￿1Km)IS. 12 single ￿de￿I&8 (2022.. 141
3 mUlti-acthmytr￿ts (2022: 2). 2 sp￿1&1 sdM)ols(2022.. 2).2 1ndy￿￿ttt $thools (2022: 5) ond
I Sixth Fomi College (2022.1). Details 0ftheDioces￿ SclK)olsare listdin the Clifton
DI￿tory.
Taxation
The TrusteeSc0￿$m2ff that the Charityis largetyeXemptf￿M1ncornetax undff theprovxs¥)nsof
the Jnconle and Cotpordtion Tax¢s Act 1988 and the Taxation of Taxabl¢ Gains Act 1992.
Tallglble Tr1xed Asiets
Only tangible fued assets with a cost in exttss of £S.000 are capitslised.
(i) Freehold L4nd
Functional land. (i.e. land used for the primary purpose of tbe Charity). is included
in th¢ fu)wKial statementsat ori&nal costorwh¢re this is not available at an estim&te of
itshisk)w Cost or in the case of donated land. at its fair value at the date of receipt.
(li) Freehold Buildtn8S
Functional buildings {i.e. buildings used for the primary purpos¢ of the Charity) are
includ￿ in the fiJ)ancial slateM￿ts at original cost. OT wbere this is not available at
estitnate of theirhistoriccosl orin the C&8eofdonat￿IbUll1bngs atanestimateof their fatr
vakne at the dats of r¢¢¢tpL All new functional building4 llnprOVema￿ and m8i)r
renovatKJns a￿ capitalised at th¢ Cost of construction.
The c05t of assets held on 31 D¢¢¢miKr 1996 was estimated based on indexing
reinstatemcnt insurance values to th¢ year of acquisition.
Rents are [￿e1Ved1n r￿[￿t of Certain properties wbich are held in furtherance of the
Charity'sobj&tives and mosttyusalby the Diocc*. Only Su￿1￿$ Spa￿ is r¢nknt Th
Properties have therefore. all been shown as Charitable functional properti¢s.
(iii) Fixthres, Fittings and Equipment
The Costs of Chutch&% andthe Catlthl a]1 f￿u[e8 a￿lfittIngS and organs which
forni part of the fabric of the building. All other fittings and equIpn￿l
included in the f]nancial statements at ¢osL
The Vdkne ofbujklin￿, C￿￿lty ￿t c4)itsli*l ts £33 rnillx)D (2022: £26 million).
Clifvn D¥oceseAnnMol Report 2023
33

NOTES TD IHE FINANCIAL STATEMENTS
ACCOUNTING POLICIES {CONTMTED)
(iv) Works of Art and Historic Tre&sures
Indtvidual works of ar¢ historic treasures and plate are not Capitalissl as htstoric cost
information is not availabl& Be¢aw8¢ of the many locations ovtr which thc5e assets
dispers&l and their specialist nali]r4 obtaining reliable inf(nnation to estimate their olst
would lN)thtIme￿nqM￿i￿allde￿￿sIVe. I￿11￿¢th2tthe ¢(%4 of G￿ll)g
out such an exercise would outwe4gh the benefit of this inforn)ation to th¢ u￿r of
accounLs.
(v) Motor Vehicles
Motor vehicles have been capitalised and includ¢d in the fmanci&l statements at their
historical ¢￿￿or in the c&8eofdiKAat&lass&s. at an estimate of the V8Alu¢ at the date of
a¢quisition.
Depreciation
Depreciationof tangible fix￿1 ass¢Ls (ex¢Judmgland) is calculal&l to writeofftheircost lessany
residual value in equal annual instalments over their estimated useful live8 as follows:
C}Jutth￿ built prnTrrkn 1911 aThl the Caththal
c]wIth￿ built tyl 1941 aTxI aftr
All Other Fthkj Buibjings
Mapr Refillbithrn￿ts ￿ R4Mirs
Moknr veh￿leS
Fixtytes. Fittings atkl EqUipm￿t
Frethokl A￿lti￿lS
l/•
133%
(1￿ yea￿}
{75 years)
{50 years)
{25 years)
4Y•
2(P/•
I￿/0-33¥3%
(3 to 10 y¢ars}
(25 years)
Listed Investments
Investnrnts ar¢ includ￿1 in the balanLY sbeet at their matket vakn at the balance sheet d
Realised a￿1 un￿8115￿ gains aThIlos￿% invethents are ID theStatarKntof Financi
Activiti¢S ID th¢ year in whicb they aris& Invethnt income is cralits]to in(x>meon an aLU]ab
basis.
Fln*x¢Sal iDytrumeDts
Basic fjnancial ]nthm￿ are initiallyr￿OgnISOlattr9t1￿ti0n value sUEwtlymea￿
at amortisul cosL ex(tpt for inveanrnts which are held at fair value. Fin￿181 assets hehl at
amOrtis￿ c(N%t ￿￿18¢ ￿5b atbank atMI inh￿4 togthrwithtr* aul Oth￿ debtor& A 4)ecif
provisionisrnade f￿deE4sforwhlCh[ecovthlIItyjS indoubL Cathatbankandin hatbJi8ikfll
as all cash in inkantacc¢&s bank aiYiRmts andusedasw(xkingcapitil. Finan¢RI liabilities heldat
amortisul cost comtffi* ail crcJJit(M5 excw social seawity aJMI oth¢rtsxesandprovision%. A&%¢ts
and liabilities held in forei￿ currency are trdnslated to GBP at the balance shert dale at an
appropriate year end exchange ra￿.
Clifvn ThoceseAnn#alReport 2023
34

NOTES Ir) THE FtNANCIAL STATEMENTS
ACCOUNTING POLICIES (CONTINUED)
Investmellt Properties
Freehold inV¢#M￿pTOPertl&$ ownedby the Dio¢¢sear¢ includ&lin the balanccshect attheT
estimated market valu¢ ai the balan(z sheet date. The valuation of investtnart properties is
perforniedbythe DioCesanin-bou￿profeSry10nal qualifiedvahxratxlvaluatiotLsar¢in a¢wAth
with the RICS valuatiw- Global Stsnd&ds2017.. UK national SUFvlement. The 2021 valuation
was p¢rfom)ed by an externat profo4simally qualifioj val￿. As these assets are record￿1 at
mth¢t value, no charge for depreciation 18 made in the accouTtts.
Realjsedandunreall￿dg2ltis andlosscson Inve8tn￿tpnYfft1￿aTcind￿1￿1Within1heSl￿
of Financial Activities in the year irt which they arise.
Fund AceountlDg
Funds held by the Charity are either.
Unr¢stricted general futMls- t1￿ are fill¥LsWhi¢h¢anb¢Us￿ in a(￿￿ancewllththe clwilab]e
objects at the discretion of the Trusttts.
DesI￿a￿l fillyJs- th&8eatefunth set asi& bydr Tntsttts outofuDf¢stri¢Aed g￿al furth for
specific future pu￿05eS or pTh)jects.
Restrictedfunds- th&8eaTe ￿ndS thatcanonlYbeuscdf(Kpartiallarrestricknlpu￿(￿SW1Ihttl
the objectsofthecharity. Restiicti(nsaTiseWbensp￿1fi&lbYthed0nLrorwlrn fimdsarernE￿l
for particular restricted puryoses.
Pernianent endowment funds - these funds represent those assets which must be h¢ld
pennanently by the Charity. Income orising on the endownxnt funds must be used in
accordance with the ternis of th¢ eodowmenL
CAsb
Cash includ&8c&%binbandanddepksitsrepaydbl¢ondemandlessoverdraftsrepayableondema]
D¢positsar¢r¢payablcon dema￿] iftlwcan k withdrawjatany time without noticeandwtih(x
penalty orif a matiwltyorpffi￿J0f nOti￿Of￿01￿￿ethaD24 orott workiDgdayh&sbe
agreed.
Liquid resou￿¢3 repr￿artbAnk&ndbUIl￿gS0cletydepCkS1ts whttethe ptti(dof notiLE cxcccds
24 hours or ODe working day.
Clifvx Dlo¢esEAnnrwl Report 2023
35

(Q¥J ¥0
¢n V w>￿•

NOTES TO THE FINANCIAL STATEMENTS
DONATIONS AND LEGACILS
2023
Parochial
£'ooo
2022
Parochial
£'ooo
Curial
Totsl
£'ooo
Curial
£'ooo
Total
£'ooo
Offertory
Donations
t£ga¢ies
Total
4.473
1.236
327
6,036
4,473
1,392
358
6,223
3,855
1,180
2.342
7.377
3,855
1,310
3.572
8.737
156
31
187
130
1,230
1,360
INCOME FROM GOVERNMENT GRANTS
2023
Parochial
2022
Parochial
Curi81
£'ooo
Tolal
£'ooo
Curial
Total
£'ooo
School
Condition
Allocations
(SCA)
Graot
Total
INCOME FROM CIIARITABLE AcrivrrIES
2023
Curial Parocl
£'ooo
£'ooo
2022
Curial Paro¢hMI
£'ooo
Totsl
£'ooo
Total
£'ooo
Fundraisi￿ Grdnts R￿'d
and Repository Sales
EducationAI Services
Training and Publications
Rental Income
Chaplaincy Scrvices
Other
Total
28
736
764
163
480
643
133
64
164
133
102
102
60
1.377
69
33
2.284
1.387
96
1.551
96
51
2,659
iio
1.267
69
51
440
33
468
2.219
1.816
Cliftsn DioceseAnnualReport 2023
37

NOTES TO THE FINANCIAL STA1EMENTS
INVEsfMENTINCOME AND INTERFST RECEIVABLE
2023
CuTi41 Porochial Total
£'ooo
£'ooo £'ooo
2022
Curial ParoclJA] Total
£'ooo £,(
Income on UK listed inv¢sttt)¢nts
IDcorne on UK investment properties
Interest on UK cash held at bank
Total
206
52
241
499
98
47
253
398
304
99
494
897
207
23
iio
340
66
37
82
185
273
60
192
525
EXPENDITURE ON CHARITABLE ACTlVtTIKS
2023
Curial PaTo¢hial
2022
Curial Parochial
£'ooo
£'ooo
Totsl
£'ooo
Total
£'ooo
£'ooo
FAtTH AND
EDUCATION
Worship
CI¢Tgy Support
Pastoral
Chaplaincy
Education
Pilwiag¢s
75
674
273
82
2,730
37
7,678
7,753
674
277
8Z
2.730
37
78
673
250
48
752
6.775
6.853
673
257
48
752
Total
SUPK)RT
Bishop's Office
Gov¢rnan¢¢
Finance
138
179
790
51
562
154
61
138
179
790
51
562
154
61
188
643
21
556
186
65
188
643
21
556
186
65
Estate Management
Safeguarding
Communications
Total
TOTAL
EXPENDITURE
5.691
7.682
13J73
3.736
6.782
10.518
Cliflort DitpceseAnnualReport 2023
38

NOTES TO ThE FINANCIAL STAIEMENT3
EMPLOYEE cosrs
2023
Curial PBrochial
£'ooo
1,242
52
2022
Curial Paro¢li
£'ooo
£'ooo
755
22
Total
£'ooo
2,113
80
Total
£'ooo
871
28
Sa]ari¢s
Pension
Life Insurance
Employer's NIC
Total
1.867
70
48
120
1.420
27
926
147
2J46
22
799
133
2.076
1.277
The average number of employees duTing the year was 149 (2022: 143).
Three employees h&den￿)1￿M￿ts, exc1￿￿ngperL$l)nC(￿Imtt1￿M￿ within th¢bwd £6￿.￿)0- £70.000
{2022: One).
One ¢mploy¢e had emolumats. exc1￿lIng pension Conthl￿tiL￿L$, within the baDJ £70,LKK>- £80,(KKI
(2022: None).
No employew had ¢molut￿t& exd￿At)8 peL81(￿ contilL￿tiOnS, within tbe band £80,IKKI - £90,(MXJ
(2022= One)-
One employeehad emOlun￿ts.exClu1thDgpenSIon Contrilxrtio￿ withintb¢ band £90,(KM)- £I¢XJ.(KKJ
(2022= None).
The total remuneration for key management employ¢es in 2023 was £5 Iok (2022: £461k).
There wa5 one tellnination payment for en¥loyeu dwing2023. th¢re(kndaKypayments £0.4k.
There were twotern1iD&ti￿payrndts tsemployees duting21Y22. thereth]ndatKypaym¢nts total £lk.
Employee costs include £8k for holiday pay not taken during 2023 (2022: £1 Ik).
Non¢ of th¢ Tn￿t¢c8rC¢cIvcdrenM￿¢rthl0ll f￿the1[woth as Tntstees in 2Q23 (2022: Nonej
totalling £774 (2022.. £650) were reimburs¢d to Trnst¢¢s in respect of trdvcl costs incuTT¢d.
DonationsfTomTrnsteesviaTegularyaynrDtstotalla1£5.455 2023{2022£825).togethtrwithw
ash offerings on the ¢oll¢ction plate.
The priests who are Truste￿ are boU￿d and TeMUn￿al¢d in their parishes and are re1mbu￿d th¢r
expens&s forcanyingout th¢irpri&stiyduti¢5 in th¢ sam¢ way aspri¢sts who arenotTntsts. To a&si8t
hirn in the perf(Kn)atL(Y of his dutio%.the Bish(T¥ is provid¢d with a howcaodhis eX￿seS, in
out his office &s Bishop, are paid from Curlal funds.
Clifopn tknceseknnuolReport2023
39

N01ES TO THE FINANCIAL STAIEMENTS
10. FIXED A&SET INVESTMENTS
2023
2022
Curial Paroc1￿1
rcstst
Cwial Parochnl
Total
Total
as reststcd
£'ooo
£'ooo
£'ooo
£'ooo
£'ooo
Listed Investments
UK Investment
Propcrties
10.153
4.332
14,485
9.697
4.065
13.762
1.820
1.900
3,720
1,795
1,535
3,330
Total
11973
6.232
18,205
11,492
5,600
17,092
Ltsted Inveytments- Cojjllnon Investment Fund
2023
2022
Cwial Parochial
Total
£'ooo
CuTi81 Paroclwl
£'ooo
£'ooo
Total
£'ooo
£'ooo
£'ooo
Market Value brou8ht
forward
Additions at Cost
Fe¢s
Sal¢ Proceeds from
Disposa]s
Realised Gainl(IAYSS)
Unrealised Gain/(tA)ss)
Market Vglue carried
forward
9.321
3.916
13237
10,420
2,592
13.012
3.180
{53)
1.072
(J8)
4352
(71)
3.009
{54)
2,423
(19)
5,432
(73)
(3,250) (1.010)
26
508
9.732
(4.260) (2.679)
33
{184)
723
13J14
(688)
{63)
329
3,916
(3,367)
(247)
215
4,182
9,321
13237
Cash HeldFor tnvestmart
421
150
571
376
149
525
Market Value
10.153
4.332
14,485
9.697
4,065
13,762
Book CC6tcani￿ fonvonl 9.012
3,813
12.825
8.990
3.734
12.724
Clifton ￿OCeSeA￿￿￿Q1RtpOrt 2023

N01ES TO 1HE FINANCIAL STAIEMENI8
10. FIXED A&SET INVEsfMENTS (coNfiNUED)
UK InVestn￿nt Properti
InvestmentPT￿rtIeSare lad￿kd at theirestinmtal op￿Mark￿Vaknatl0Tratthe bal8rKe sheet dat.
The valuation w&% EKrf0Th￿dbY theDloC￿an 1D-1M)￿ prof￿SH)nallyqUallfi￿l vah]er- v8h￿lm￿ ate
in a¢cordani%with the RICS valuation- Global Standar& 2017: UK national sUppl￿￿[lL Extemal
valuations undertakn ¢v¢ry 5 yc*sthe last Cxt£n￿l valu&ion was in 2021 undutakcD by Cattr
Jonas qualified va]uw.
Movements in the investment properties held during the y¢ar were as follows..
2023
2022
Curial Parochial
Curial Parochial
restated
£'oo
Totsl
Total
as restated
£'ooo
£'ooo
£'ooo
£'ooo
£'ooo
Valuation
blf as
Testated
Additions
Revaluation to
estimatedopth market
value
Val￿th)
carrled
forward
1.795
1.535
3J30
1.775
1.185
2,960
360
360
330
330
25
30
20
20
40
1.820
1.900
3.720
1.795
1.535
3.330
Re2JAied Gains l (Losse$) on ￿led Asset Investn*Dts
2023
Parochial
2022
Curial Parochial
£'ooo
£'ooo
Total
£'ooo
Total
£'ooo
£'ooo
Listed tnvestments
26
33
{184)
(63) (247)
Totsl
26
33
{184)
(63) (247)
Unrealised G4ing1(Losse8) OD Trlxed Asset Inves¢ments
2023
Curial Parochni
£'ooo
£'ooo
2022
Total
£'ooo
Curial ParochMI
£'ooo
£'ooo
Total
£'ooo
Listed Inv&4tments
UK Invesiment
Properti¢s
508
215
723
(1.191)
(329) (1.520)
25
30
20
20
40
Total
533
220
753
(1.171)
(309) {1.480)
CITfvn DioceseAnnualRtporl 2023
42

NOTES TO THE FINANCIAL STATEMEN13
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
Curial Paroch
£'ooo
2022
Curial P8rochMI Total
£'ooo
£'ooo £'ooo
TotAI
£'ooo
£'ooo
Prepayments and Other
Debtors
tncome Tax Recoverdble
(Gift Aid)
Legacie8
940
50
990
650
128
778
204
204
79
79
357
366
1.006
920 1.926
Total
949
611
1,560
.735
.048 2.783
PrepayMentsandotherdel*o￿1nchM￿£I &684(2(Y22: £1.8(Kl)it) respectoflconsto pri¢#sbkx]tc]
cars. on which no interest is payable. and which are repayable within three yea￿.
12. cR￿)[ToRS. A￿)UL￿s FAL￿￿ DUE WTfHIN ONE YEAR
2023
Curial Parochial
£'ooo
2022
Curial Parochial
Total
£'ooo £'ooo
Total
£'ooo
Defe￿ed Income
School Projects
Funding
Sundry Cn]ik)ts and
Accruals
121
121
42
42
1.499
1.499
1.757
1.757
930
247
1.177
761
256
1,017
Total
2,550
247
2,797
2,560
256
2,816
IAJans falling due within one year are unsecured.
13. CREDrroRS: AMOUNTS FALUNG DUE AFfER MORE THAN ONE YEAR
The followingliabiliti&diScl(tseAu￿Itr c￿dit(￿Sf￿1Iitigdu¢ aftermore than one year are unsecur¢d.
2022
Curial Paro¢hDI
£'ooo
£'ooo
2021
Curial Paro¢hDi Total
£'ooo
£'ooo £'ooo
Tot41
£'ooo
Grants R¢p&yabl¢
Sundry CTeditors and
Accrnals
21
21
21
21
Total
22
22
22
22
Clifttjn DioceJeAnnualReport 2023
43

NOTES TO THE FtNANCIAL STAIEMENTS
14. EIWOWMENT FUNDS
Th¢ ¢ndowed funds are pernianent endowments.
The balances on tbe main funds as follows:
Balance tncome FxpendlDj￿ Transfers Gain8
asofl
January
2023
£'ooo
Balance
asof31
losses DecemF£r
2023
£'ooo
£'ooo
£'ooo £'ooo
£'ooo
CURIAL
Bishop's Maintenance Fund
Clergy Training Fund
CliftonmissionBenefxt(￿SFUr￿d
Heavens Fund
Young Fund
Poor Missions Fund
Total Curlal
143
126
143
146
72
151
132
154
75
641
33
674
PAROCHIAL
Pro Cath¢dTal Endowment
Hussey Endowment
Kft1￿t Endowmenl
Hensler Fund
Scoles Endowment
Patterson Endowment
Stapleton Br¢thr¢n Endowment
Fairford Mission Endowment
Algar Endowment
a]m¢sbwy MissionEndowment
Ne]son Endowment
The Lady Herbert of Lea Fund
Carey Trust Endowment
Board Endowment
Barn¢s Trust Endowment
Lucy Sh&tp Fund
Total Parochial
£'ooo
£'ooo
£'ooo
£'ooo £'ooo
£'ooo
18
19
12
14
16
15
17
io
16
16
35
16
15
15
33
15
21
19
212
22
20
224
12
Dlocese Total
853
45
898
Clil&pn ThoceseAnnut71 Report 2023
44

NOTES TO THE FINANCIAL STATEMENTS
14. ENDOWMENT FUNDS (CONTINUED)
Comparativ¢ figuT¢S for 2022:
BalatKz [n(l￿￿ Expcnditiue Transfus Gains Balance
asof I
asof31
January
2022
£'ooo £'ooo
2022
£'ooo
£'ooo
£'ooo £'ooo
Cu￿AL
Bishop's Maintenance Fund
Clergy Trnining Fund
Clifton Mission B&thctors Fund
HeaveDs Fund
Young Fund
Poor Missions Fwid
Total Curial
162
140
162
165
82
12
723
(19)
(14)
{19)
{19)
{io)
{1)
{82)
143
126
143
146
72
641
PAROCHIAL
£'ooo £'ooo
£'ooo
£'ooo £'ooo
£'ooo
Pro Cathedral Endowment
Hussey Endowment
Klli￿t F￿d0w￿ent
Hensler Fund
oles Endowment
Patter50n Endowment
Stapleton Brethren Endowment
Fairford Mission Endowmettt
Algar Endowment
MalmesburyMissionEndowment
Nelson Endowmcllt
The Lady Herbert of Le& Fund
Carey Trust Endowment
Board Endowment
Barncs Trust Endowment
Lucy Sharp Fund
Total Pgroehlal
(i)
(i)
(i)
(2)
{2)
20
13
18
16
18
io
17
17
37
17
{2)
{2)
(i)
{2)
(2)
(4)
(2)
(i)
(3)
(3)
(29)
14
16
15
15
33
15
24
22
241
21
19
212
Dloce5e Total
964
(iii)
853
Cliftsll ￿oceSeA￿N￿￿lReP0rt 2023
45

NOTES TO THE FtNANCIAL STATEMENTS
14. ENDOWMENT FUNDS (coiYfINUED)
Curlol Endowments
Most of the endowments are for $p¢cifi¢ purposes as follows:
TheBishop's main￿￿￿eFU￿1 is forthe suiwtaJMI maintenance of the Bishop of Clifton
and the Bishop's Offjce at SL Ambrose (which also Serves as his residenc¢)
The Cler&v Training Fund is for the training of clergy and vocational support
The Clifton Mission Benefactors Fund is to say masses for certain individuals
The Heavens Fund is the for the maintettance and education of Catholic otphan wls
Th¢ Yout)8 Fund is to assist widows and distressed ladies
Th¢ Poor Missions Fwid is for the a55islance of poor parishes of the Diocese
Parochial Endowments
Most of the endowments are for specific parishes as follows:
Pro Cathedral- for the benefit of Clifton Cathedral. Bristol
Hussey- for the benefit of the parish of SL Johtt's. Bath
Kni8ht- for the benefit of the parish of Sacred HeaiL Westhury-on-Trym
Hensler Fund - for the benefit of the Clifton Cathedral parish. Bristol
Scoles- for the benefrt of the parishes of Chard. CTewkerne and Y¢ovil
Patterson- for the benefit of the parish of Chipping Camden
Stapleton Brethren - for th¢ benefit of the parish of Cbippenham
Fairford Mission - for the benefit of the patish of Fairford
Algar- for the benefit of the parish of Frome
Malmesbury Mission- for the benefit of the parish of Malm¢sbury
Nelson - for the benefit of the parish of Downton. Salisbury
Lady Hubert of L£a Fund - for the benefit of SL Osmund'8 parish, Salisbury
Carey TnJst- ft￿theb￿efit0f thep8rislKs ofHoty Swinthm and SL Ga)tEe'4 Taunton
Board- for the bettefit of the parish of SL George's. Taunton
Barnes Trust- for the benefit of the Sacred H¢art parish. Tisbury
Lucy Sharp Fund- for the benefrt of the parithsof SL John's SL Mary's ID Bath, and
Joseph's in Brid8wat¢r
Clifton Dioct&eAnnualReport 2023
46

NO]ES TO IHE FINANCIAL STAIEMENTS
15. RESTIUCtED FUNDS
Bala￿£ Income Exp¢nditillE Transfers Gain￿ & Balance
88ofl
(￿SSeS)
asof31
January
DeC¢m￿r
2023
2023
£'ooo
£'ooo
£'ooo
£'ooo £'ooo
£'ooo
Cu￿AL
BAshop's Charltsble Fund
Bishop's Support Fund
E¥iests' R¢tir¢ment Fund
Clergy Welfare Fund
Clergy Training Fund
Youth Development Fund
Youth Bursary Fund
Christ's College Ethation Fund
St Joseph's Education Fund
Curial R¢strActed t£gacies
Curial TTUSt Funds
Fundraising Appeals
Other Curial Funds
Restricted Fixed Assets Fund
Total CuTi81
80
216
2.398
329
16
12
14
1,320
4.790
87
754
20
145
220
10,401
80
219
2.202
299
26
12
14
1.132
2.539
79
787
20
157
213
7,779
84
{307)
(54)
27
17
io
188
2219
(32)
18
15
13
135
2.423
(393)
59
PAROCHIAL
Par50ns Fund - Jesuit
Cathedral FuJ)d
Other Parochial Funds
Total Parocldal
187
192
123
99
414
333
637
{234)
(234)
Diocese Total
11.038
140
2.423
(627)
65
8,193
Cltftsn Diocese AnnualREport2023
47

NOTES TO THE FINANCIAL STAIEMENTS
15. RESTRICTED FUNDS (CONTINUED)
Comparative figures for 2022:
Balance InLYJllf Expcnditure. Balance as
asofl
of31
January
December
2022
2022
and transf¢Ts
restat¢d
£'ooo £'ooo
£'ooo
CURIAL
Bishop's Charitable Fund
Bishop's Support Fund
14iests' R¢tirement Fulld
Cler&v WelfaTe Fulld
Clergy Training Fund
Youth D¢v¢lopment Fund
Youth BuTsary Fund
Christ's College Ed￿all￿ Fund
St Joseph's FAlucation Fund
Curial Restricted Legacies
Curial Trust FuThds
Fundraising Appeals
Other Curial Funds
Restricted Fixed Assets Fund
Totxl Curial
80
212
1.414 1.138
408
17
12
14
1,392
5,178
140
773
20
18
227
9905 1397
80
216
2.398
329
16
12
14
1.320
4,790
87
754
20
145
220
10.401
(154)
(86)
(7)
(72)
(388)
(53)
(34)
15
127
(7)
(801)
PAROCHIAL
PaTsons Fund _ Jesuit
Cathedrdl Fund
Other Parochial Funds
Total Parochial
185
132
354
671
187
117
333
637
(15)
(24)
{39)
Dlocese Total
10,576 IJ02
(840)
11,038
R¢stricted funds can only be used for a particular PUTPOSe.
The restrictions on the funds are as follows:
Bishop's Chatitable TTUSt T5 for cbaTitabl¢ donatioDS at the dis¢retion of the Bishop
Bishop's Sllpi￿ Fut)d is fortk Main￿alKe0f theBisknp'sOffi¢% (which also seThes as his
resid￿¢¢}
Priests. Retirell￿ Fund-this SUNMxts rdirnlpri¢sts a￿1 pn)vith aLXxymt￿Xlatll0nwh￿e
nec¢55ary
cler￿ Welf¥eFund is for the￿ller ofitifin￿ sick andagedRomanCatholi¢ se¢ubrpn￿50f
the Diocese
Clergy Training Fund is for training PU￿05¢S.
Cliffr)n DIot￿￿A￿￿￿￿lRtPort2o2j
48

NOIES TO IHE FINANCIAL STATEMENTS
15. RE￿RllcT£D FUNDS (CONTINUED)
Youth Development Fund is to b¢ us¢d for the young people of the Diocese
Youth Bursary Fund is for young p¢opl¢ of the Dxocese
Christ's Colleg¢ Ed￿￿10n Futsj 15 the p￿(ee¢l8 f￿Mthe sak ofthecollegewhitharerestrKt2d
for educational PUTpose5
Cwial Restricted IKgd¢i¢S comprise several legacics dottated for specific purposes
Curial Trnst FuAl$con¥ri* a small Du[th￿ of S￿￿fiCTn￿ relating to individualpaTith&%or
parishioner groups
Fundnising Appeals f¢PTcs¢nt funds donatcd to support fundraising activities
RestrictedFixed AS*tsFundr¢ptrA￿ts donatcdto assistin thc purch&8e ofthe DioLYSaD
administstiveoffic¢s in BrA#d (AlcxaTrJtrH(wc) as wdl as p￿P￿ti& rcstri(*ed for theuqeof
retired priests
Other Curial FuThb cotry>iise $￿tal¢OlIC¢tI0llS le￿leS and donations foT specific projects
Tisbury Parsons Fundis to b¢ used f(ff the bencfitofthc peopl4 buildingsand activiti&8 the
parish of Tisbury and Wardour. This fund is now closed.
Tisbury Jesuit FuThl is to k uwj fwthe benefitof the Fq)14 buil(liw aJyJa(aivitiesin Ttsbuy
and other similar TUTal parishes of the Diocese
Cathedral Fund is for use specifically related to Clifton Cathedrdl
OtherPArochia] Funds CoTwistsp￿Ial c0llectx)￿% legacies and doDati(ms f￿￿ Specificproj￿ts
within the parAshe8
16. DESIGNATED FUNDS
Desi8ttat¢d FundsareunKstrAcknl fundsthathave E¢thdBsigt￿tedbYthe for a 5tKcifK puw.
The fund d¢sigt]8tions ar¢ reviewed annualty.
Balatxy In￿tlle Expendmute TransfaB Gains Balance as
a8ofl
of31
Januaty
December
2023
2023
£'ooo £'ooo
£'ooo
18.193
17,687
60
62
1,301
1,370
£'ooo £'ooo
150
Fixed Ass¢ls Fund
Clergy W¢lfare Fund
Priests. R¢tir¢ment Fund
St. Thomgs Mor¢ S¢¢ondary
School
Chtist's College Sponsorship
Fund
Adult Education Fund
School Projects Reserye
School DFC Funding
Brislol Catholic Players
St. Bonaventure's Fund
Property Maintenance Fund
Sisters of the Temple
Total Desi%DAted Funds
656
20
49
1,119
(142)
977
750
(750)
45
299
(45)
28
327
296
643
25
22.736
io
(23)
306
586
25
21J45
34
22
690
{772)
49
Clifton Diotue AnMuoiReport 2023
49

NOIES TO THE FINANCIAL STATEMENTS
16. DESIGNATED FUNDS (coiYfiNUED)
Comparative fwires for 2022:
Balance taconr Expenditure. Balance
asofl
gainsl(IIEw) as of 31
January
2022
£'ooo £'ooo
2022
£'ooo
Fixed Assets Fund
CleT&V We]fare Fund
iests. Rettrement Fund
SL Thomas Mor¢seC(￿ S<hcM)I
Christ's College Sp)nAi￿￿p Fund
Adult Education Fund
S¢hool Projects Reserye
School DFC Funding
Bristol Catholic Playe
SL Bonavenknre's Fund
Property Maintenance Fund
Sisters of the Temple
Totsl DesIg￿ted Funds
17.022
60
1,627
1291
750
1,171
18.193
60
1.301
1.119
750
21
(347)
(172)
45
299
45
299
296
727
25
22,147
296
643
25
22,736
(84)
21
568
The funds have been designated for the following p￿￿oSe5.
Fixed AssetFur¥JTew&wAtsthenrtbLK)k val￿oft8￿￿lef￿￿aSsd$lesSthe net book value
of t￿sIble r￿ed assets included in restricted funds
Cl¢rgy WelfareFuThl suP￿themediL2Iandwelfa[ecOSts for sickpri&%tsaDJ those r￿uiring
nutsing car¢
Priests. R¢tirwn¢nt Fund is a fund to support priests Currently in Tetirement
St Thomas More Se(x)darySchool fund represents the proceeds of sal¢ of the ￿h0o1 site
which are desi￿ated for the purpos¢s of futyr¢ s¢hool$' building pmjects
Christ's Collcgc spon￿rShip Fund represents funds held to sponsor a shared faith school
Adult Education Fund represents grants receÉved for fornation and spiritual dircction
School Projects Reserve represents funds set aside to support school capital projc¢ts
School DFC FundiDgrepr&%ellts heldonbebalf of volunlory-aided 8choo]s for capital
works
Bristol Catholic Players represents funds held on b¢balf of a Connect￿ ¢harity
St. Bonaventure's Fund is for a liability on a property that will onty be realised once the
property is Sold
The Property Maintenance Fund is for planned maintenaDce on Diocese building8
Sisters of the Temple Fund 15 for tnaintrnance on Diocese buildin￿.
Clifton DioceseAnn¥alReport 2023
50

NOIES TO THE FtNANCIAL STATEMEN15
17. GELYEIL4L ULYREsfRicfED FUNDS (EXCLUDING DESIGNATED FUNDS)
Balance as at
l January 2023
£'ooo
Movement
Balance as at
during 2023 31 De¢¢mkr 2023
£'ooo
£'ooo
Genetal Curial Funds
Genetal Parochial Funds
3.050
16.094
945
1.917
3.995
18.011
Total Unreslrletsd Funds
19,144
2,862
22,006
18. TRANSFERS BETWEEN CURIAL AND PAROCHIAL FUNDS
Parochial
£'ooo
Total 2023
£'ooo
Parish Share
Other transfer8
1.817
(171)
(1,817)
Total
1.646
1,646)
The Parish Share is a ContribJ￿nfrOrn thepati5hc8 tow￿& thecoth of TUDDingthe central adivitie6 of
the Dioc￿¢ to SUFgOrtthe coll￿1Ve ￿￿OrnI le￿1 fimdi(rt8. Itis aS8essedb&sedon partsh I￿ne.
19. ANALYSIS OF NET ASSETS BETWEEN FUNDS
F￿dOWn￿ts R¢strithl Desi￿￿￿ un￿striCted Totsl Funds
£'ooo
£'ooo
£'ooo
£'ooo
£?000
Tangibl¢ Fixed Assets
Fixed Asset Inv¢stsn¢nts
Net Current Assets
Long TernL Liabilities
213
1,923
6,057
17.687
931
2,749
(22}
17,900
A8,205
16J59
{22)
881
17
14,470
7,536
Total
898
8.193
21,345
22,006
52,442
Clifvn Dio¢*seAnntsalR¢port 2023
51

NOTES TO THE FINANCIAL STAIEMEN13
19. ANALYSIS OF NET A￿Ts BETWEEN FUNDS (CONTINUED)
Comparative figures for 2022:
F￿dOwn￿ts Restri(*] Design*q Unr¢stri¢ted Totkl Funds
r¢stat¢d
£'ooo
£'ooo
£'ooo
£'ooo
Tan￿7¥1¢ Fix¢d Assets
Fixed Asset Investments
Net cu￿ellt Assets
Long Terni Liabilities
220
1.858
8.960
18.193
882
3,683
(22)
18,413
17,092
18,288
(22)
836
17
13.516
5,628
Total
853
11.038
22.736
19,144
53.771
20. NOTES TO THE CASH FLOW SfATEMEiYr
(a) Reconcllladon of net incomel(expendlture) to net ¢ash flow from operathig xcdviti
2023
£'ooo
2022
£'ooo
Net in¢om¢l(expenditure) for the reporting period
Adiusth]¢nts for.
Depre¢iatioD charges
IA)ssesl(Gains) on investments
Dividends. interest and r¢Dts from inve51ments
(Profit) on the sale of f￿¢d assets
(tncTeaseydecreas¢ in debtors
Increa5el{decrease) in ¢reditOTS
(1.329)
30
675
(753)
(897)
(1220)
1,223
(19)
669
1,480
(525)
{2,075)
628
Net cash fronv (used In) operating activities
(2.320)
207
Reconellladon of net c8sb flow to movement in Aet funds
2023
£'ooo
2022
(D¢creaseyiticrea5e in cash in the year
Cash inflow from repaymcnt of loan
New loans received
(Decrease}fmcrease in Det funds in the year
Net funds brought forward
Net funds carried forward
{725)
(2,324)
{725)
18,321
17,596
(2.324)
20,645
18,321
Cliftsn ThoteseAnAuolRÈporf 2023
52

NOTES ID 1HE FINANCIAL STAIEMENTS
20. NOTES TO THE CASH FLOW ￿ATEME￿r (coiwriNUED)
(b) Attilyiii of ill net funds
As of l January Cash Flow As of 31 tkcember
2023.
in Year
2023,
£'ooo
£'ooo
£'ooo
Short-Terni Deposits
Cash at bank and in hand
13.947
4.374
(242)
(483}
13,705
3,891
Net cash atbank aNI sknrt-tttmdwosis
18.321
(725)
17,596
L4)ansdu¢ forr¢paynrntwithin 0￿Y
Net funds c4rrled forward
18J21
(725)
17,596
Cash at bank and in hand is held ID a group bank account together with short-trnn deposits.
Short-terni deposits on more than one day's notice are treated as liquid resources.
The cbarity had no debt in both the cu￿nt year OT PIIOT y¢ar.
21. CAPITAL COMMITMEKrs
2023
£'ooo
2022
£'ooo
Capital Commitments
36
321
The charityhadone capitsl conllniti￿ on 3 1st D¢￿t￿l￿2023. Clifton ChaplaincyrcfurbishnThL Jn
2022 ￿eCh￿ltyh￿Iwocapltal¢omMItn￿￿ cl1ftonchapl8i￿yrcfi￿b1￿llll￿t alldStBernadette's￿y
roof.
22. RELATED PARTY TRANSACTIONS
The charity had no related party transactions in either the cu￿ent or prior year.
Cltffon Diocese AnnuolReport 2023
53

NOTES TO THE FINANCIAL STATEMENTS
23. PIUOR YEAR ADJusfMENr
DuTingthe prepardtionof the 2023 statell*nts, itcame to lightthat a propertydonatsj kn Ihe
Diocese in 2019 had llotbeenrec0￿1￿d4$ an ￿s￿ atthat time. The value of th¢prop¢ty at th¢ lio
was £675,000. The adjustments necessary to cover this are as follows:
Asat
l Jan 2022
£'ooo
Asat
l Jan2021
£'ooo
Curial Restricted Futd8 as weviouslystsbl
Increase in re8¢rv&adjustsnent
9.230
675
4.754
675
Curlal Re8tri¢t¢d Funds as reststsd
9.905
5,429
A5at
31 Dec 2022
£'ooG
Jnveslments as previously stated
]ncre&8e in valueladjustrient
16.417
675
Investments as restated
17.092
Clifton Dioce5eAnnualReport 2023
54