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2022-12-31-accounts

Page
Reference and administrative details ofthe Diocese, its Trustee and advisers
Trustees'
report		 2-11
Independent
auditors'		 report on the financial statements 12 - 15
Statement
offinancial		 activities 16
Balance sheet 17
Statement
ofcash flows		 18
Notes to the financial statements 19-46

~
Dr J Whiston
(resign		 ~
Dr J Whiston
(resign		 ~
Dr J Whiston
(resign
ed 21 August 2023)
Charity registered
number 233748
Principal office Curial Offices
50a The Avenue
Middlesbrough
TS56QT
Financial Secretary Mr J A Walton
Independent auditors Waltons Business Advisers Limited
Harbour
Walk
The Marina
Hartlepool
TS24 OUX
Bankers Barclays Bank PLC
5 St Ann's Street
Quayside
Newcastle
upon Tyne
NE1 3DX
Solicitors Grays Solicitors
Duncombe
Place
York
YO12DX
Key Management Personnel:
Chief Operating Officer: Rev P Warren
Financial Secretary: Mr J Walton
Director of Schools: Mr K Duffy (retired 31 March 2022)
Mrs K Bailey (appointed 1 July 2022)

2022 2022 2021 2021
Unrestricted Restricted Unresbi cted Restricted
PARISHES
Income
(excluding
assets)		 profit
on		 sale of 3,853 228 3,999 341
Expenditure (3,328) (199) (2,919) (92)
Diocesan assessment and transfer 37 (241)
Surplus/(deficit)
before transfers		 etc 562 29 839 249
Transfers 72 (30)
(Loss)/Profit
on sale		 ofassets 177
Unrealised
(loss)/gain
on
investment		 1,834 1,892
property
Added to/ /deducted &om) reserves 2396 29 2,980 ~2/9)
CURIAL
Diocesan assessment k.transfer (37) 241
Other income (excluding profit
ofassets)		 on sale 1,440 618 1,618 496
Total income 1,403 618 1,869 496
Expenditure (1,900) (193) (1,820) (190)
Surplus/(deficit) (497) 425 39 306
Other transfers 10 (10) (155) 114
(Loss)/Profit
on sale		 ofassets (20)
Realised/unrealised
investments		 gain/ (loss) on (262) (15) 2,226 17
Added to//deducted from) reserves ~749 400 2,090 437

As restated
Unrestricted Restricted Total Total
funds funds funds funds
Note 2022
F		 2022 2022f 2021
INCOME FROM:
Donations
and legacies		 2,850,878 801,818 3,652,696 4,159,240
Charitable
activities		 400,751 400,751 390,771
Other trading
activities		 240,655 18,395 259,050 130,344
Investments 1,678,528 25,228 1,703,756 1,507,377
Other income 122,211 550 122,761 423,890
TOTAL INCOME 5,293,023 845,991 6,139,014 6,611,622
EXPENDITURE ON:
Raising funds 9 12,635 38,115 50,750 7,831
Charitable
activities		 10 5,215,522 353,830 5,569,352 5,013,041
TOTAL EXPENDITURE 5,228,157 391,945 5,620,102 5,020,872
NET INCOME BEFORE NET
GAINS/(LOSSES) ON INVESTMENTS 64,866 454,046 518,912 1,590,750
Net gains/(losses) on investments 15 1,571,348 (14,657) 1,556,691 4,135,346
NET INCOME 1,636,214 439,389 2,075,603 5,726,096
Transfers
between		 funds 25 10,171 (10,171)
NET MOVE MENT IN FUN DS 1,646,385 429,218 2,075,603 5,726,096
RECONCILIATION OF FUNDS:
Total funds brought forward as
previously
stated		 52,850,203 4,240,662 57,090,865 50,979,125
Prior year adjustment (385,644) (385,644)
Total funds brought forward as
restated 52,464,559 4,240,662 56,705,221 50,979,125
Net movement
in funds		 1,646,385 429,218 2,075,603 5,726,096
TOTAL FUNDS CARRIED FORWARD 54,110,944 4,669,880 58,780,824 56,705,221
Restated
Note 2022f 2021
FIXEDASSETS
Tangible assets 16 9,980,194 9,948,550
Investments 19 6,299,412 7,508,399
Investment
property		 18 37,207,847 33,356,417
53,487,453 50,813,366
CURRENT ASSETS
Debtors due after more than 1 year 20 686,952 684,986
Debtors due within 1 year 20 580,939 699,898
Investments 21 4,603,942 5,272,014
Cash at bank and in hand 13,592,181 12,796,982
19,464,014 19,453,880
Creditors: amounts falling due within one
year 22 (13,719,557) (13,562,025)
NET CURRENT ASSETS 5,744,457 5,891,855
TOTAL ASSETS LESSCURRENT
LIABILITIES 59,231,910 56,705,221
Creditors: amounts falling due after more
than one year (451,086)
TOTAL NET ASSETS 58„780,824 56,705,221
CHARITY FUNDS
Restricted
funds		 25 4,669,880 4,240,662
Unrestricted
funds
Designated
funds		 25 1,324,614 1,420,069
General funds 25 52,786,330 51,044,490
Total unrestricted funds 25 54,110,944 52,464,559
TOTAL FUNDS 58,780,824 56,705,221
The financial
statements		 were approved and authorised for issue by the Trustee and signed on their behalf by:
Rt Rev Bishop T P Drainey
Bishop of Middlesbrough
Diocese of Middlesbrough		 Trustee P™~"
Date: 31 October 2023
The notes on pages 19to 46 form part ofthese financial statements.

As restated
2022f 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash used
in operating
activities		 (330,601) 355,535
CASH FLOWS FRONI INVESTING ACTIVITIES
Dividends,
interests
and rents from		 investments 1,703,756 1,507,377
Proceeds from the sale oftangible fixed assets 1,000 7,500
Purchase oftangible
fixed assets		 (208,364) (109,840)
Proceeds from sale of investments 982,509 1,303,259
Purchase
of investments		 (1,229,138) (1,519,008)
NET CASH PROVIDED BYINVESTING ACTIVITIES 1,249,763 1,189,288
CASH FLOWS FROM FINANCING ACTIVITIES
Cash inflows
from new borrowing		 500,000
Repayments
of borrowing		 (623,963)
NET CASH (USED IN)/PROVIDED BYFINANCING ACTIVITIES (123,963)
CHANGE
IN CASH AND CASH EQUIVALENTS		 IN THE YEAR 795,199 1,544,823
Cash and cash equivalents
at the beginning
ofthe year		 12,796,982 11,252,159
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 13,592,181 12,796,982
The notes on pages 19to 46 form part ofthese financial statements

Parochial Parochial Curial Curial Total Total 2021
Unrestricted Restricted Unrestricted Restricted
Funds Funds Funds
E		 Fundsf
Donations 2,472,532 225,983 66,451 88,432 2,853,398 2,714,611
Legacies 291,862 2,300 20,033 485,103 799,298 1,444,629
Total 2022 2,764,394 228,283 86,484 573,535 3,652,696 4,159,240
Total 2021 3,140,176 341,325 235,423 442,316 4,159,240

INCOME FROM CHARITABLE ACT IVITIES
Parochial Curial Total Total 2021
Unrestricted Unrestricted
Funds Funds
f f
School Service Contribution 210,395 210,395 236,344
Stipends 190,356 190,356 154,427
190,356 210,395 400,751 390,771
Total 2022
154,427 236,344 390,771
Total 2021

INCOME FROM FUNDRAISING
ACT		 IVITIES
Parochial Curial Total Total 2021
Unrestricted Restricted
Fundsf Fundsf
Fundraising 150,917 18,395 169,312 80,277
Papers, candles 8 piety stalls 89,738 89,738 50,067
240,655 18,395 259,050 130,344
Total 2022
127,475 2,869 130,344
Total 2021

INVESTME NT INCOME
Parochial Curial Curial Total Total 2021
Unrestricted Unrestricted Restricted
Funds
f		 Funds
f		 Fundsf
Rents and hire fees 647,777 516,433 5,435 1,169,645 1,030,087
Investment income 511,178 3,268 514,446 474,043
Bank interest received 3,140 16,525 19,665 3,247
Total 2022 647,777 1,030,751 25,228 1,703,756 1,507,377
555,027 941,100 11,250 1,507,377
Total 2021

As restated
Parochial Curial Curial Total Total 2021
Unrestricted Unrestricted Restricted
Funds
F		 Funds
f		 Funds
F
Government grants 61,538
Gain/ (loss) on sale of fixed
assets 900 (2,980) (2,080) 157,361
Other income 8,767 115,524 550 124,841 204,991
Total 2022 9,667 112,544 550 122,761 423,890
198,791 185,099 40,000 423,890
As restated Total 2021

Parochial Curial Total Total 2021
Unrestricted Restricted
Funds Funds
F
12,635 38,115 50,750 7,831
12,635 38,115 50,750 7,831
7,831 7,831
Unrestricted Restricted
funds funds Total Total
2022 2022 2022 202'I
F
Parochial 3,316,110 198,617 3,514,727 3,003,049
Curial 1,899,412 155,213 2,054,625 2,009,992
5,215,522 353,830 5,569,352 5,013,041
Total2021 4,921,443 91,598 5,013,041

Activities
undertaken Support Total Total
directly costs funds funds
2022 2022 2022 2021
E E F
Parochial 3,514,727 3,514,727 3,003,049
Curial 1,637,062 417,563 2,054,625 2,009,992
5,151,789 417,563 5,569,352 5,013,041
Total 2021 4,688,397 324,644 5,013,041

Total Total
Parochial Curial funds funds
2022f 2022
E		 2022 2021
Staff costs 580,372 580,372 630,719
Depreciation 150,626 21,214 171,840 179,235
Repairs,
Maintenance		 8 Upkeep of properties 1,103,344 337,948 1,441,292 1,195,281
Establishment
costs		 815,913 815,913 705,725
Administration 288,329 288,329 236,275
Domestic 155,395 155,395 129,693
Motor and travel 92,072 92,072 62,927
General
Church expenses		 157,970 157,970 123,744
Bishop 8 Clergy Support 170,637 170,637 132,969
Schools 84,066 84,066 44,796
Donations 83,172 83,172 20,681
Special collections 136,949 18,737 155,686 110,651
Sundries 12,671 12,671 6,413
Priest training 44,006 44,006 23,757
Academy
formation		 8 school costs 200,000
Youth Service (711) (711) 4,185
Services to Parishes 8 Chaplaincies 494,980 110,871 605,851 572,043
Retired Priest Welfare fund 136,185 136,185 132,400
Justice 8 Peace 3,000 3,000 3,000
National assessments 25,975 25,975 27,572
Finance charges 23,306 32,221 55,527 23,709
Governance
costs		 71,384 71,384 116,162
Diocesan events 556 556 1,273
Lourdes 601 601 5,187
3,514,727 1,637,062 5,151,789 4,688,397
Total 2021 3,003,049 1,685,348 4,688,397

Total Total
Curial funds funds
2022 2022 202'I
Staff costs 335,787 335,787 278,585
Establishment costs 24,341 24,341 25,811
Administration 25,400 25,400 15,935
Motor and travel 11,564 11,564 10,842
Bishop & Clergy Support 20,471 20,471 (6,529)
417,563 417,563 324,644

2022 2021
E
Fees payable to the Diocese's auditor for the audit ofthe Diocese's annual
financial statements 16,500 16,000
Fees payable to the Diocese's auditor in respect of:
Accountancy and taxation advice 5,300 16,012

2022f 2021
Wages and salaries 771,460 763,459
Social security costs 76,155 74,643
Contribution to defined contribution pension schemes 68,544 71,202
916,159 909,304

2022 202/
No. No.
Curial employees 25 23
2022 2021
No. No.

Parochial Curial Curial Total Total 2021
Unrestricted Unrestricted Restricted
Funds
f		 Funds Fundsf
Realised gains 29,062 29,062 14,165
Unrealised gains 1,833,799 (291,513) (14,657) 1,527,629 4,121,181
Total 2022 1,833,799 (262,451) (14,657) 1,556,691 4,135,346
Total 2021 1,892,342 2,225,722 17,282 4,135,346
Freehold Motor Fixtures and Office
property
F		 vehicles
f		 fittings
f		 equipment
F		 Total
f.
Cost
At 1 January 2022 14,133,542 35,276 790,894 74,085 15,033,797
Additions 159,239 32,777 11,114 5,234 208,364
Disposals (4,880) (4,880)
At 31 December 2022 14,292,781 63,173 802,008 79,319 15,237,281
Depreciation
At 1 January 2022 4,616,099 12,618 383,014 73,516 5,085,247
Charge for the year 151,292 6,994 12,287 1,267 171,840
At 31 December 2022 4,767,391 19,612 395,301 74,783 5,257,087
Net book value
At 31 December 2022 9,525,390 43,561 406,707 4,536 9,980,194
At 31Oecember 2021 9,517,443 22,658 407,880 569 9,948,550

TANGIBLE FIXEDASSET SPLIT
Freehold Motor Fixtures Office
Curial property
F		 vehicles
E		 and fittings
E		 Equipment
f		 Totalf
Cost
At 1 January 2022 1,017,534 35,276 74,085 1,126,895
Additions 2,621 32,777 5,234 40,632
Disposals (4,880) (4,880)
At 31 December 2022 1,020,155 63,173 79,319 1,162,647
Depreciation
At 1 January 2022 344,524 12,618 73,516 430,658
Charge for year 12,953 6,994 1,267 21,214
At 31 December 2022 357,477 19,612 74,783 451,872
Net book value
At 31 December 2022 662,678 43,561 4,536 710,775
At 1 January 2022 673,010 22,658 569 696,237
Parochial
Cost
At 1 January 2022 13,116,008 790,894 13,906,902
Additions 156,618 11,114 167,732
At 31 December 2022 13,272,626 802,008 14,074,634
Depreciation
At 1 January 2022 4,271,575 383,014 4,654,589
Charge for year 138,339 12,287 150,626
At 31 December 2022 4,409,914 395,301 4,805,215
Net book value
At 31 December 2022 8,862,712 406,707 9,269,419
At 1 Janaury 2022 8,844,433 407,880 9,252,313
Total 2022 9,525,390 43,561 406,707 4,536 9,980,194
Total 2021 9,517,443 22,658 407,880 569 9,948,550

Parochialf Curialf Totalf
Valuation
At 1 January 2022 17,691,160 15,665,257 33,356,417
Additions 160,637 160,637
Revaluation 2,023,756 1,856,994 3,880,750
Transfer (260,000) 260,000
Impairment (189,957) (189,957)
At 31 December 2022 19,264,959 17,942,888 37,207,847

Investments
in Investments
subsidiary in Listed
companies f associates
f		 investments
f		 Totalf
Cost or valuation
At 1 January 2022 7,508,395 7,508,398
Additions 3,999 643,668 647,667
Disposals (386,347) (386,347)
Revaluations (1,386,757) (1,386,757)
Transfers between classes (83,549) (83,549)
At 31 December 2022 4,000 6,295,410 6,299,412

The following w as a subsidiary
un		 dert aking
ofthe		 Diocese: Diocese:
Name Company Principal
activity		 Holding Included
in
number consolidation
Diocesan Property
Management		 02960826 Building contractor 100% Yes
Limited and property
developer
The financial results ofthe subsidiary for the year were:
Name Expendituref (Loss) for
the yearf		 Net assetsl
(liabilities)f
Diocesan Property
Management		 Limited 698 (698) (14,864)
The following was an associate of the Diocese:
Name Income for Expenditure Profit I
the year for the yearf (Loss) for
the yearf
Inter-Dicoesan Fuel Management Limited 13,008,144 (12,994,961) 13,251

20. DEBTORS
Curial Total Total
2022f 2022f 2021f
Debtors
in over 1 year:
Amounts
owed		 by group companies 686,952 686,952 684,986
Debtors within one year:
Trade debtors 48,325 48,325 18,267
Other debtors 133,785 133,785 332,469
Other debtors —school loans 374,061 374,061 334,682
Prepayments and accrued income 24,768 24,768 14,480
1,267,891 1,267,891 1,384,884
21. CURRENT ASSET INVESTMENTS- CURIAL
2022f 2021
Listed investments 4,603,942 5,272,014

ONE YEAR
Parochial Curial Total Total
2022 2022 2022 2021
Bank overdrafts 6,672,511 6,672,511 6,280,156
Bank loans
& 1		 yr 27,951 27,951 603,000
Loans & 1 yr 5,889,040 5,889,040 5,989,040
Trade creditors 178,029 178,029 64,549
Other taxation and social security 19,488 19,488 19,972
Other creditors 213,943 213,943 165,098
Other creditors - school loans 616,158 616,158 305,678
Accruals 48,797 53,640 102,437 134,532
48,797 13,670,760 13,719,557 13,562,025

CRE
ONE		 DITORS: AMOUNTS
FALLING D
YEAR		 UE AFTER
Curial Total Total
2022f 2022
f.		 2021
Bank loans 451,086 451,086
451,086 451,086

STATEMENT O F FUNDS - CUR RENT YEAR
As restated Balance at
Balance at 1 31
January Transfers Gains/ December
2022f Income
f		 Expenditure
F		 in/out
f.		 (Losses)f 2022
E
Unrestricted
funds
Designated
funds
StJohn of
Beverley
Designated
fund 587,089 587,089
John Paul
Centre
Designated
Fund 440,768 14,947 (110,402) 345,313
Parochial
Designated
funds 392,212 392,212
1,420,069 14,947 (110,402) 1,324,614
General funds
Unrestricted
funds Parochial 34,555,278 3,852,969 (3,328,745) 37,321 1,833,799 36,950,622
Unrestricted
funds Curial 11,945,616 1,425,107 (1,899,412) (27,150) (2,009,043) 9,435,118
Revaluation
reserve
Curial		 4,543,596 1,856,994 6,400,590
51,044,490 5,278,076 (5,228,157) 10,171 1,681,750 52,786,330
Total
Unrestricted
funds 52,464,559 5,293,023 (5,228,157) 10,171 1,571,348 54,110,944

As restated Balance at
Balance at 1 31
January Transfers Gains/ December
2022 Income Expenditure in/out (Losses) 2022
E E E E E
Restricted
funds
Retired Priests
Welfare
Fund		 1,585,597 90,569 (86,382) 15,856 1,605,640
Priests' Training
Fund 1,061,369 500,199 (36,591) (12,465) (17,074) 1,495,438
Lacy Fund 300,379 33,213 333,592
Lourdes Sick
Fund 252,885 22,224 (35,523) 5,000 244,586
Catholic
Child
Care 119,608 1,707 (2,857) 100 118,558
Cecil H Walker
Memorial
Fund		 99,305 993 100,298
Mike McCullagh
Memorial
Trust
Fund 63,812 861 2,417 67,090
Mathias
Smyth
Memorial
Masses Fund 50,467 (3,600) 46,867
Levy Fund
(Active Priests) 40,742 40,742
Common
Stock		 37,598 (376) 376 37,598
Mensal
Fund		 30,400 304 4,514 35,218
Church
Extension
Fund		 44,360 (44,360)
Parochial
Restricted
funds 416,892 228,283 (198,610) 446,565
Other
Restricted
funds below
E25k each 137,248 851 (65,733) 25,322 97,688
4,240,662 845,991 (391,945) (10,171) (14,657) 4,669,880
Total offunds 56,705,221 6,139,014 (5,620,102) 1,556,691 58,780,824

STATEMENT O F FUNDS - PRI OR YEAR
As restated
Balance at
Balance at 31
1 January Transfers Gains/ December
2021 Income Expenditure in/out (Losses) 2021
Unrestricted
funds
Designated
funds
StJohn of
Beverley
Designated
fund 550,000 37,089 587,089
John Paul
Centre
Designated
Fund 462,157 (21,390) 440,767
Parochial
Designated
funds 392,212 392,2'/2
942,212 499,246 (21,390) 1,420,068
General funds
Unrestricted
funds Parochial 31,575,361 3,998,957 (2,742,343) (169,039) 1,892,342 34,555,278
Unrestricted
funds
Curial		 11,886,774 1,118,298 (1,817,722) 85,560 672,707 11,945,617
Revaluation
reserve
Curial		 2,990,581 1,553,015 4,543,596
46,452,716 5,117,255 (4,560,065) (83,479) 4,118,064 51,044,491
Total
Unrestricted
funds 47,394,928 5,616,501 (4,581,455) (83,479) 4,118,064 52,464,559

As restated
Balance at
Balance at 31
1January Transfers Gainsi December
2021 Income Expenditure inlout (Losses) 2021
Restricted
funds
Retired Priests
Welfare
Fund		 1,623,745 52,944 (132,400) 41,308 1,585,597
Priests' Training
Fund 668,293 381,785 (3,657) 14,948 1,061,369
Lacy Fund 289,926 10,453 300,379
Lourdes Sick
Fund 221,122 34,738 (5,187) 2,211 252,884
Catholic Child
Care 117,859 470 1,279 119,608
Cecil H Walker
Memorial
Fund		 98,321 983 99,304
Mike McCullagh
Memorial
Trust
Fund 60,154 3,057 602 63,813
Mathias
Smyth
Memorial
Masses Fund 55,917 (5,450) 50,467
Levy Fund
(Active Priests) 32,443 8,297 40,742
Common
Stock		 37,222 376 37,598
Mensal
Fund		 26,872 (16,74I) 20,269 30,400
Church
Extension
Fund		 44,360 44,360
Parochial
Restricted
funds 197,626 341,325 (91,598) (30,463) 416,890
Other
Restricted
funds below
225k each 110,336 40,721 (27,022) 13,216 137,251
3,584,196 855,042 (282,055) 83,479 4,240,662
Tptai pf funds 50,979,124 6,471,543 (4,863,510) 4,118,064 56,705,221

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR
Unrestricted Restricted Total
funds funds funds
2022 2022 2022f
Tangible
fixed assets		 9,980,194 9,980,194
Fixed asset investments 6,299,412 6,299,412
Investment
property		 37,207,847 37,207,847
Debtors due after more than one year 686,952 686,952
Current assets 14,107,182 4,669,880 18,777,062
Creditors due within one year (13,719,557) (13,719,557)
Creditors due
in more than one year		 (451,086) (451,086)
Total 54,110,944 4,669,880 58,780,824
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR
As restated As restated
Unrestricted Restricted Total
funds funds funds
2021 2021 2021
Tangible
fixed assets		 9,948,550 9,948,550
Fixed asset investments 7,508,399 7,508,399
Investment
property		 32,796,804 559,613 33,356,417
Debtors due after more than one year 684,986 684,986
Current assets 15,087,845 3,681,049 18,768,894
Creditors due within one year (13,562,025) (13,562,025)
TotalAsrestated 52,464,559 4,240,662 56, 705,221

27. AMOUNTS
DUE TO		 8 FR OM PARISHES
Amounts Amounts
due to due from
Parishes Parishes Total
Balance at 1 January 7,344,121 (4,172,094) 3,172,027
Parish
Levy		 (730,947) (730,947)
Legacy recieved 50,000 50,000
Expenditure
by Diocese on		 behalf of Parishes (107,816) (107,816)
Transfers
and repayments		 of loans 39,750 526,333 566,083
Investment
Property		 transferred 260,000 260,000
Balance at 31 December 7,693,871 (4,484,524) 3,209,347
RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING
28. ACTIVITIES
2022 2021
f.
Net income for the year (as per Statement of Financial Activities) 2,075,603 5,726,096
Adjustments
for:
Depreciation
charges		 171,840 179,235
Gains on investments (1,727,742) (4,135,360)
Dividends,
interests		 and rents from investments (1,703,756) (1,507,377)
Loss/(profit)
on the sale of fixed assets		 3,880 (157,347)
Decrease
in debtors		 116,993 112,627
Increase
in creditors		 732,581 137,661
Net cash provided by/(used
in) operating		 activities (330,601) 355,535
29. ANALYSIS OF CASH AND CASH EQUIVALENTS
2022 2021
Cash
in hand		 13,592,181 12,796,982
Total cash and cash equivalents 13,592,181 12,796,982

At 1 At 31
January December
2022 Cash flows 2022
f.
F
Cash at bank and in hand 12,796,982 795,199 13,592,181
Bank overdrafts repayable on demand (6,280,156) (392,355) (6,672,511)
Debt due within 1 year (6,592,040) 675,049 (5,916,991)
Debt due after 1 year (451,086) (451,086)
Liquid investments 5,272,014 (668,072) 4,603,942
5,196,800 (41,265) 5,155,535