2020-12-31-accounts - Middlesbrough Diocesan Trust

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Charity Information
Trustee's Report
Auditors' Report	13
Statement ofFinancial Activities for the year ended 31December 2020	16
Statement ofFinancial Activities for the year ended 31December 2019	17
Balance Sheet	18
Statement ofCash Flows for the year ended 31December 2020	19
Notes to the Accounts	20-33

Changes	in directors holding office are as follows	in directors holding office are as follows	in directors holding office are as follows
				Rt Rev Mgr Canon	G Dssey			(resigned	19/11/20)
				Very Rev Canon A Sheridan				(resigned	16/03/21)
				Mrs A Barham (resigned			16/03/21)
				Mr GMoran (appointed		19/11/20)
				Mrs M TClark (appointed			21/01/21)
				Dr TA Lythe (appomted			18/02/21)
				Mr A TMcMillan	(appointed			05/03/21)
FINANCIAL SECRETARY:				Mr JA Walton
CHARITY NUMBER:				233748
CHARITY OFFICES:				Curial Offices
				50a The Avenue
				Middlesbrough
				TS5 6QT
AUDITORS:				Anderson Barrowcliff LLP
				3 Kingfisher Court
				Bowesfield Park
				Stockton on Tees
				TS183EX
				Barclays Bank Pic
				Unit 1
				Central Mall
				The Mall
				Middlesbrough
				TS12NR
SOLICITORS:				Grays
				Solicitors
				Duncombe Place
				York
				Yo12DX
KEYMANAGEMENT			PERSONNEL:
Chief Operating		Officer:		Rev P Warren
Financial	Secretary:			Mr JWalton
Director	ofSchools:			Mr KDuffy

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					2020		2019
			Notes	Parochial	Curial	Totalf	Total
FIXEDASSETS
Tangible fixed assets				9,338,437	696,331	10,034,768	9,934426
Investments				16,351,148	20,620,345	36,971,493	35,737,387
				25689585	21316676	47886265	45671613
CURRENT ASSETS
Investments					5,033,201	5,033,201	5,152,909
Debtors				25,425	1,472,086	1,497,511	2,356,739
Cash at bank &in hand				4,700,561	3,242, 152	7,942,713	5,824,291
				4,725,986	9,747,439	14,473,425	13,333,939
CREDITORS: Amounts		Falling
Due Within One	Year		10	(77,809)	(10,037,108)	(10,114,917)	(8,708,000)
NKT CURRENT ASSETS				4,648,177	(289,669)	4458,508	4,625,939
TOTAL ASSETS	LESS
CURRENT LIABILITIES				30,337,762	21,027,007	51464,769	50497,552
CREDITORS: Amounts		Falling
Due After One Year							(603,000)
				30,337,762	21,027,007	51,364,769	49,694,552
PARISH LOAN ACCOUNTS
Due to Parishes				6,754,390	(6,754,390)
Due fiom Parishes				(4,541,309)	4,541,309
NET ASSETS				32,550,843	18,813,926	51464,769	49,694,552
Financed By:
Unrestricted funds	-unrestricted			31,841,696	14,877,355	46,719,051	45,212,381
	- designated			511,521	550,000	1,061,521	907,542
				32,353,217	15,427,355	47,780,572	46,119,923
Restricted funds			12	197,626	3,386,571	3,584,197	3,574,629
			13	32,550,843	18,813,926	51464,769	49,694,552

					2020	2019
Cash flows from operating activities:
Net cash provided by (used in) operating	activities				(719,535)	(602,620)
Cash flows from investing activities:
Dividends, interest and rents &om invesiments					1,438,023	1,465,850
Proceeds trom the sale ofproperty, plant and equipment					182497
Purchase oftangible fixed assets					(335,474)	(128,445)
Proceeds from sale ofinvestments					1,019,844	1,352,070
Purchase ofinvestments					(742,548)	(6,184,034)
Net cash provided by (used in) investing	activities				1~2,142	(3,494,559)
Cashflows from financing activities
Repayments ofbonowings
Change in cash and cash equivalents in the	reporting	period			842,607	(4,097,179)
Cash and cash equivalents at the beginning	ofthe reporting		period		4,129497	8,226,576
Cash and cash equivalents at the end ofthe	reporting	period			4,972,004	4,129,397
ReconciTiation ofnet incoming resources	to cash flow from operating			activities
Net income for the reporting period (as in SOFA)					1,670418	3,020,162
Adj ustm eats for:
Depreciation					176,308	180,612
Non cash legacy received					(91,933)
(Gains)/losses on investments					(1,297,068)	(1,526,229)
Dividends, interest and rent from investments					(1,438,023)	(1,465,850)
(Decrease)/increase in creditors					(471,899)	(411,795)
Decrease/(increase) in debtors					859428	(393,020)
Loss/(profit) on the sale offixed assets					(126@66)	(6,500)
Net cash provided by/ (used in) operating	activities				(719,535)	(602,620)

in use	without major renovations or improveme	nts for the following p
(a)	Unlisted Churches	25 to 100Years
(b)	Cathedral and Listed Churches	100to 200 Years
(c)	Presbyteries	25 to 100Years
(d)	Other Buildings	25 to 100Years

Curial
				Total	Total
		Unrestricted	Restricted	2020f	2019
Schools Service		283,496		283,496	259,695
Youth Service		34,817		34,817	22,653
Academy formation &school costs		100,000		100,000	557,438
Bishop's &Clergy	Support	256,756	30,059	286,815	353,496
Services to Parishes &Chaplaincies		310,342		310442	332,576
Upkeep ofproperties		104,942		104,942	184,690
Justice &Peace		3,000		3,000	3,000
National assessments		36,795		36,795	39,041
Finance charges		35,421		35,421	29,186
Support costs		358,811		358,811	327,193
Governance costs
- Legal &,professional		29,764		29,764	65,097
- Accountancy	&taxation advice	20,000		20,000	20,000
- Audit Fee		16,000		16,000	16,000
Retired Priests Welfare Fund			106,248	106,248	137,424
Priest training			5,409	5,409	6,562
Special collections			19,900	19,900	45,332
Lourdes Pilgrimage			I@32	1432	165,670
Youth Minisny					8,170
Diocesan Events		300		300	13,992
Depreciation		16,636		16,636	22,005
Other		14,205		14/49	28,185
		1,621,285	162,892	1,784,177	2,637,405

Parochial
				Total	Total
		Unrestricted	Restricted	2020	2019
Repairs &maintenance		936,970		936,970	904,233
Establishment	costs	505,507		505,507	867,978
Administration		242,012		242,012	338,983
Domestic		140,998		140,998	167,835
Motor &travel		56,765		56,765	117,130
General church	expenses	138,067		138,067	268,562
Clergy support		427,628		427,628	489,167
Schools		2,994		2,994	412
Donations		10,155		10,155	13,165
Special collections			96,276	96,276	195,989
Depreciation		159,672		159,672	158,607
Other		41,132		41,132	67,074
		2,661,900	96,276	2,758,176	3,589,135

TRANSFERS
		Parochial		Curial
		Unrestricted	Restricted	Unrestricted	Restricted	Total
		f.
Parish levy		(449,795)		449,795
Levy pension fund		(37,500)			37,500
Capital mvested	m the
Diocese		66415		(66,215)
Interest credited	to
restricted funds				(28,769)	28,769
Contributions to/fiom
restricted funds				(59,600)	59,600
Second collections			(18,130)		18,130
Transfers to parishes		121,668		(115,889)	(5,779)
		(299,412)	(18,130)	179,322	138,220

TANGIBLE FIXEDAS	SETSFOR USE	BYTHK CH	ARITY
(a) Curial
		Freehold	Computer
		Land &	&Offic	Motor
		Buildings	Equipment	Vehicles	Total
COST OR VALUATION
At 1 January 2020		1,017,534	72,946	32,194	1,122,674
Additions			1,139		1,139
At 31December 2020		1,017,534	74,085	32,194	1,123,813
ACCUMULATED DEPRECIATION
At 1 January 2020		318,809	72,656	19,381	410,846
Charge for the year		12,859	574	3,203	16,636
At 31December 2020		331,668	73,230	22484	427,482
NET BOOK VALUES
At 31December 2020		685,866	855	9,610	696431
At 31 December 2019		698,725	290	12,813	711,828
(b) Parochial
			Freehold	Fixtures
			Land &	&
			Buildings	Fittings	Total
			f.
COST OR VALUATION
At 1 January 2020			12,849,080	759,034	13,608,114
Additions			323,729	10,606	334,335
Disposals			(73,776)	-	(73,776)
Transfer to Investment	Property		(9,330)		(9,330)
At 31December 2020			13,089,703	769,640	13,859,343
ACCUMULATED DEPRECIATION
At 1 January 2020			4,022,375	363,341	4,385,716
Charge for the year			149,635	10,037	159,672
Eliminated on Disposal			(17,845)	-	(17,845)
Transfer to Investment	Property		(6,637)		(6,637)
At 31December 2020			4,147,528	373/78	4420,906
NET BOOK VALUES
At 31December 2020			8,942,175	396462	9,338,437
At 31December 2019			8,826,705	395,693	9422,398

There were no holdings that represented more than 5%ofthe total v	There were no holdings that represented more than 5%ofthe total v	alue ofinvestments.
Investment pmperties with a value ofK5,992,947have been pledged		as security for the	bank loan.
Fixed Asset Investments -Curial
		2020	2019
Investment properties		14,587/42	13,183,173
Listed investments: at market value		6,033,100	6,555/70
Investment in subsidiary company		2	2
Investment in associated company		I	I
		20,620445	19,738,446
The Historical Cost oflisted investments	on 31December 2020 was	f10,543,900(2019:f10,689,132).
Summary ofinvestments		2020f	2019
Opening valuation I Janumy 2020		19,738,446	19,086,165
Additions		707410	5,894,386
Disposals		(219/17)	(1,345,570)
Transfer fiom tangible fixed assets			26/53
Impairment		3/39	(430,306)
Net gains/(losses) during the year		541,121	1,370,779
Cash transferred to/&om Diocese net of	broker fees and dividends
Received		(270462)	289,648
Included within current asset investments		119,708	(5,152,909)
Closing valuation 31December 2020		20,620,345	19,738,446

		2020	2019
Turnover
Cost ofsales
Gross profit
Administrative	expenses	803	1458
Operating (loss)/profit		(803)	(1458)

		that offuel and power distr	ibution	to various Roman	Catholic Dioceses	Catholic Dioceses	throughout England.
		A summary ofthe tradmg	results	ofInter-Diocesan	Fuel Management		Limited for the year	ended 31March
		2020 is given below:-
							5'000
		Capital dt reserves					34
		Turnover					15,110
		Net profit					2
		Fixed Assets Investments	-Parochial
							2020	2019
							f.
		Investment properties					16/37@45	15,998,941
		Listed investments					13,803
							16451,148	15,998,941
	The	Historical Cost oflisted investments		on 31December	2020 was 512,620.
8		CURRENT ASSETINVESTS
							2020	2019
		Listed investments					5,033/01	5,152,909
9		DEBTORS
				Parochial		Curial	Total	Total
				2020		2020	2020	2019
		Amounts due from subsidiary
		Undertakmgs				683,591	683,591	682,393
		School loans				413,820	413,820	476,282
		Trade debtors Prepayrnents 0accrued income				27,654 67,466	27,654 67,466	20256 1,017,776
		Olher debtors		25,425		279,555	304+80	160,032
				25,425		1,472,086	1,497,511	2356,739

CREDITORS: AMOUNTS FALL	ING DUK WITHIN	ONE YEAR
	Parochial	Curial	Total	Total
	2020	2020	2020	2019
Bank loans and overdrafts		3,573,559	3)573,559	1,694,894
Trade creditors		59,930	59,930	85,051
Accruals &deferred income	5,000	65,402	70,402	198,212
Other creditors		277,203	277403	316,102
DFC School Accounts		51,611	51,611	304,813
Other loans	72,809	5,989,040	6,061,849	6,089,040
Taxation and Social Security		20,363	20,363	19,888
	77,809	10,037,108	10,114,917	8,708,000
CREDITORS: AMOUNTS FALLING DUE AFTER		ONE YEAR
	Parochial	Curial	Total	Total
	2020	2020	2020	2019
Bank loans				603,000
				603,000

donations and grants h Curial	eld	on t	r	us	ts to be	applied for spec	ific purposes:-	ific purposes:-
							Movemeat in Funds
						Balance	Incomiag			Balance
						31.122019 f	Resources	Expenditure f.	Transfers f	31.122020 f
Priests' Training Fund						667,638	6,413	(14,431)	8,944	668494
Church Extension Fund						44,360				44460
Mensal Fund						26,471		(19,863)	20,265	262173
Pickering Roman Catholic War Orp					hanage
Fund						20,473			205	20,678
Lourdes Sick Fund						186,649	33,837	(1,232)	1,866	221,120
Lourdes Youth Pilgrimage						(I1,848)				(11,848)
Catholic Child Care						116,000	700		1,160	117,860
Youth Sunday						16,639			1,250	17,889
Retired Priests' Welfare	Fund					1,659,594	10,375	(106,248)	60,024	1,623,745
Common Stock						37,598		(376)		37222
Lacy Fund						289,926				289W6
Vestment Guild						(1,927)				(I„rr27)
Nicholas Postgate						3,607	70		36	3,713
Mike McCullagh Memorial		Trust		Fund		61,235	213	(1,906)	612	60,154
Matthias Smyth Memorial Masses				Fund		59,817		(3,900)		55J17
Youth Ministry —Expansion		and	Outreach			2,355	170			2425
Levy Fund (Active Priests)						(5,073)	16		37,500	32,443
Cecil Walker Memorial	Fund					97,348			973	98421
Hedon New Church Fund						9,167			(1,694)	7,475
Hedon Charity Fund						4,085			(4,085)
Papal Blessings/Papal Awards						(1,908)				(1,908)
Mass Stipends						2,710		(250)		2,460
Year ofFaith						1,435				1,435
Education Resource Needs						6,760				6,760
Peter's Pence						993		(2,014)	1,716	695
Holy Places Lenten Alms						1,705 6,252		(2,745)	1,672 116	632 6~
Other Restricted Income						5,190				5,190
Home Mission Sunday						1,789		(4,033)	2,746	502
Day for Life						1,242		(2,211)	1,197	228
John Hinman Fund						391				391
Nicholas Postgate Relics						1,053				1,053
CESCollection						356				356
Wycliffe Children's Holiday		Fund				2,000				2,000
Bishop's Annual Charity						5,312		(2,450)	2,600	5)462
Bishop's Foundation Masses								(9)		(9)
Young Musicians Fund						22,047				22,047
St Williams Community	Home					424				428
Marriage Preparation Consultant						9,525				9,525
Memorial Masses —FrM Murray						3,000		(1,000)		2,000
Catholic Education Council						824				824
World Communications						741		(1,268)	774	247
Poor Parishes						18,500		(9,500)		9,000
Missionary Work in Hull						323				323
Cathedral Silver Jubilee						744				744
Catholic Primary Schools Cup						5,178				5,178
Sundry Restricted Funds						626				626
World Youth Day						(4,804)				(4,804)
Year ofConsecrated Life						(7,097)				(7,097)
Women's Commission						1,220		(45)		1,175
Walsingham Shrine								(339)	339
						3,370,645	51,526	(173,820)	138,220	3486/71
Parochial						203,984	108,048	(96,276)	(18,130)	197,626