2024-12-31-accounts

Charlty number: 233748 DIOCESE OF MIDDLESBROUGH TRUSTEE'S REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

DIOCESE OF MIDDLESBROUGH CONTENTS Page Reference and admlnistratlve details ol the Dlocese. its Trusteo and advisers Trust¢¢s' report Independent audltors. report on the financlal statements Statement of flnanclal actlvities 2-11 12-15 16 Balance sheet 17-18 Statement of Cash flows 19 Notes to thg financial slatem¢nts 20-47

DIOCESE OF MIDDLESBROUGH REFERENCE AND ADMINISTRATIVE DETAILS OF THE DIOCESE, ITS TRUSTEE AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustee Diocese of Middlesbrough TnJste8 Directors And Officers of The Diocese Of Middlesbrough Trustee: The directors shown bel¢)w have held office for the whole of the period from 1 January 2024 to tho dale of this report. Rl Rev Terence Patrick Drainey, Bishop of Middlesbrough Very Rev Mgr Canon G Robinson, Vicar General Mr J C Fleming Rev W Massie Mr P G Westmacott DrTALyth Mr A T Mcmillan Mrs B Hungin Mr C Leather Changes in directors holding offi'ce are as follows". Mr N Mack {resigned 24 July 20251 Charity registered number 233748 Principal office Curial off￿e8 50a The Avenue iddlesbrough TS5 6QT Flnancial Secretary Mr J Walton Independent auditor5 Wallons Business Advisers Limited Harbourwalk The Marina Hartlepool TS24 OUX Bankers Barclays Bank PLC 5 St Ann's Street Quayside Newcastle upon Tyne NE13DX Soll¢itors Grays Solicitors Duncombe Place York Y012DX Key Monagemènt Personnel: Chief Operating Officèr: Financial Secretary- Dirodor of School$'. Rev P Vvarren Mr J Walton Mrs K Bailey Page 1

DIOCESE OF MIDDLESBROUGH TRUSTEE'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustee Presents ils report and accounts for the year ended 31 D￿mber 2024 CONSTITUTION AND AIMS The Roman Catholic Diocese of Middlesbrough is governed by a Trust Deed dated 2 January 1928 and is registered under the Charities Act 1960 - No 233748. The sole Tfustee of the Charity is a Trust Corporation. Diocese of Middlesbrough Tiuslee, company registration number 03482285, which was incorporated on 17 De￿mber 1997. The Charity is controlled by the Bishop who is assisted by up lo ten directors of the Trust. The Bishop 15 empowered to appoint and dismiss all directors. Details of the Directors, aclirig as Tnjstees of the Charity, who served during the year, ar8 given on page one. The aims and objects'ves of the Trust are the "advancement or maintenance of the Roman Catholic Religion in the Roman Catholic Diocese of Middlesbrough" The Trustee Board directors confirm that they have complied with the duty in the Charities Act 2011 Section 17 lo have due regard to publtc benefit guidance published by the Charity Commission in detemining the acb'vrties undertaken by the Charity. OBJECTIVES AND ACTIVITIES The aim of the Diocese is, in accordance with the objectives of the charity, the advancement of the Roman Catholic ￿ligIOn and education in the Diocese of Middlesbrough. This advancement of the Roman Catholic religion is achieved, most effectively. when Calholics, inspired by faith, share the love of God with those around them, whether in their families, in the workplace, in schools or in the community. The DI0￿Se fulfils ils purpose by offering Teligious and pastoral services, educational programmes and charitable support and assistance to all within its boundaries whether they be Calholics or belong lo other religions or to none. This formation then enables the people ot the Diocese to carry out the mission of the Church by reaching out lo those in any form of need including refugees and asylum seekers and immigrants, to those who have alcohol or drug dependency, to the homeless and to the poor and by supporting food banks. Schools, too, have involvement in this outreach through the way in which they help lo form responsible individuals going out into society and reflecting the1ove of God by putting their faith into action. STRUCTURE. GOVERNANCE AND MANAGEMENT The Diocese comprises sixty-eight parishes, fwe of which are served by the Benedictine Order, by the Oratorians who have now formed their own Charity, the York Oratory Trust. one by a Syro Malabar PTiesl, and o by the Oblates of The Virgin Mary. We also have priests from other dioceses and "ReligKJvs' priests administering in and working in fourteen parishes. In addition to this, we have University Chaplaincies in Hull and in York. We now have thirty one diocesan priests in active ministry. We also have ￿enty priests who have retired from parish pastoral office. Sadly, three retired priests have died in the past year. A number of our retired priests provide supply assistance to resident priests. We now have eleven pemianenl deacons, boosted by four diaconal ordinations in 2025, working in various parishes of the Diocese and eight who have retired. Parishes aim to provide for the spiritual needs of people of all ages with special emphasis on the needs of the poor and disadvantaged and the sick. There is also great awareness of the plight of refugees and asylum seekers and much effort is expended on assisting those in this posib'on. We try lo work in hamiony with other Christian churches and people of all faiths as appropriate. Strongly supported by the Bishop, education in the faith is Provided through our schools. There are foty five primary schools and eight secondary schools all of which are now members of mulli academy trusts {MATsl and independent schools oper8te in the Diocese. One of our academy schools serves jointly Calholics and Church ol England pupils from the Richmond area. Page 2

DIOCESE OF MIDDLESBROUGH TRUSTEE'S REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 The operation of the Charity is overseen by the Corporate Trustee. Directors of the Trustee are appointed by the Bishop. The Trustee Board normally meets seven limes in the year under the Chairmanship of the Bishop. A nltmber of Board committees provide advice and guidance lo the Trustee Board on a range of matters relevant lo Ihe Charity. These meet. normally, in advance of each Board meeting so that the Trustee body can be made aware of any matters of significance. Currently, these committees and sub committees are as follows.. Finance Advlsory Committee.. Following a recent resignation of a Trustee Boafd director, the committee is, currently, made up of tsvo Trustee Board diiectors and a senior priest supported by officers and specialists. The committee meets seven limes a year. in advance of the Trustee Board meeting, reviewing parish expenditure. and the Curia budget and. in addition, it deals with other matters of financial governan￿. The Investment Sub4ommittee of the Trustee 8o0rd, which incorporates the Ethical Investment Committee.. is made up of two Board direelors, the Financial SecretarylCOO, the newly appointed Head of Finance, a member of the Council of Priests ICOPI and the Inveslment Manager. The SU￿tOMm1tteQ is led by one of those directors and it has a remit Its review the make-up of the portfolio In order lo. both, ensure that the investments are appropriate for the needs of the Diocese and satisfy the principles of the Ethical Investment Policy. The role of the member of the COP is lo ensu￿ that the dIO￿an ethical stance is satisfied. Safeguarding Sub Committee- This Sub Committee is chaired by an independenl person who has significant expenence in Child Protection Wofk. He is also a Trustee Board director. The sub committee is made up of representatives of slatulory authorities, diocesan dergy and another Diie¢tor of the Trustee Board. The diocesan Safeguarding Co Ordinator attends the meetings of the Sub committee and reports to each Trustee Board meeting on the implementation of policies and procedures and, oddilionally, any matters of eoncem. Diocosan Historic Churches Commission IHCC)- The HCC is ¢haired by a senior priest with represenlalives from various heritage bodies. specialists and Diocesan representatives. The Commission is chaiged with the task of ensuring that regular inspections are carried out and that any required work is carried out in an appropriate manner. 11 also requires that any work on the ￿enty four listed churches and chapels in the Diocese be not undertaken wilhoul ils prior approval. The Commission has also taken into ils care a number of ¢hurche5 which experts consider should be listed. Siek and Rgtirgd Priests. Welfare Commlttee: This committee, chaired by the Episcopal Vicar for Clergy, is responsible for supporting the sick and aged priests of the Diocese and the approval of expenditure for their welfare. The Care & welfare Consultant reports to the Committee and her reports are integral lo the operation of the Committee. Membership comprises the Chair, two priests elected by the Diocesan priests, a piiest retired from pastoral office, a deacon and laity appointed by the Bishop. The Directors of the Trust are also the Diocesan Finance Committee required by Canon Law (Canon 4921. Newly appointed Trustee Directors are briefed, initially, by the Company Secretary and receive copies of the Memorandum and Articles of Association, copies of the Charity Commission document on the responsibilities of Trustee5 and copies of Board minutes. There have been Changes since the date of the last Trustee's ReF)Ort with one director resigning for personal reasons and one new appointment. The Chief Operating Offi¢er continues lo provide legal advice and act as Company Secretary in addition to having responsibility for the operations of the Curia. He has, re¢enUy, assurned the tille of Financial Secretary following the impending retirement of the former Financial Secretary. The recently4ppolnted Hgad of Finance with her stsff, under the ultimate authority of the Bishop, ss responsible for handling all financial ar￿ property matter5. The Bishop's Coun¢il, comprising the Vicar General, and Episcopal Vicais with responsibility across the Diocese for aspects of a pastoral nature, together with the Chancellor, continues lo advise and assist the Bishop in pastoral matters. Page 3

DIOCESE OF MIDDLESBROUGH TRUSTEE'S REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 The Dlocesan Glft Ald Offlcer, appointed at the start of 2025, works closely with parishes on financ¢al matters. particularly Gift Aid, and provides support where needed. She also reviews Parish Financial Returns with outcomes from this work being critical to provision of infom)alion for audit purposes. In addition to this, she performs accounting functions in the Finance Department. In the short lime that she has been with the Diocese. she has idents'fied ways to improve the relationship between the Curia and the parishes. Fundralslng Officer: The Fundraising Offi¢er meets. periodically. with representatives of parish Finance Committees. 11 was, previously, reported that he had introduced facilities for cashless giving in parishes and thity-five machines are now in place in parishes. This officer has now beeome more involved in fundraising activities of the Diocese. More recentty, he has introduced a stewardship Inilialive, "My Parish. My Miss￿n, an initiative already in pla￿ in some other dioceses. The aim is lo encourage more volunteer participab'on in parish activities and increase the number of planned giving contributions. Care and Welfare: The consultant dealing wth welfare needs of priests has continued her work throughout the Di0￿se. This is a service very much appreciated and well used by pllests. Rernungration Policy The Trustee Board approves annual pay awards and job roles and remuneration are ￿vieWed periLxlically. If, and when, significant roles change hands, benchmarking of rates is employed. Subsidiary Company The Diocese has a wholly owned subsidiary company, Diocesan Propety Management Limited. The company was established to facilitste the management of building contracts for the Diocese and ils sales are to the Diocese only. The company provides its services al cost and makes a minimal profil or loss. For the year ended 31 December 2024. the turnover of the company was £Nil12023'. £Nil} and its loss was £89112023.. £7131. Investment Powers and Policy The Trust Deed. in conjunction with the Trustee Investment Act 1961 and the Memorandum and Articles of Association of the Trust Corporation, aulhorises the Trustee to make and hold investments using the general funds of the Diocese. The investment objective of the Trustee is that the real value of the assets should be maintained and enhanced over the long term and that the fund provides income to assist in the operational costs of the Diocese. The Investment Manager manages the portfolio on a discretionary basis, with an emphasis on medium risk, and the Diocese and the Investment Manager meet periodically to review the portfolio and ils performance. In the management of the portfolio the Investment Manager lakes due account of the Diocesan Ethical Investment Policy and reports to the recently formed Investment Sub-committee. Dividend income has held up well during the year. The asset mix we have in the portrolio served us well for a number of years and we continue to believe it will again, once the interest rate cycle peaks and turns lower. In the meantime, dividend flows are expected lo be maintained, providing at least some comfort whilst caprtal values are depressed. Page 4

DIOCESE OF MIDDLESBROUGH TRUSTEE'S REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVIEW AND REVIEW OF THE YEAR The table below summarLses the finartial actiwlies of the Diocese'.- 2024 Unrestricted Restri¢t¢d £k £k 2023 Unrestricted Restricted PARISHES I￿oMe {excludirYJ profil on sale of assets) eThJiture Diocesan assessment a￿1 transfeT 4,465 {3.8911 975 319 11871 3,920 {3.5531 1731) 299 12571 Surplusl{deflclt} before transfers etc Transfers ILossllProfil on sale of assets Unrealised Ilossllgain on investment property 14011 132 (364) 42 1,225 12001 Added tol (deducted from) reserves 824 132 564 42 CURIAL DI0￿$an assessment & transfer Other [r￿Orne lexcluditYJ profil on sab of assets) Total Ir￿ome ExpeThditure 975 1,862 2,837 2.166 731 1, 623 2,354 12,0731 194 194 {3441 328 328 13471 Surplusl{deflclt) other transfers ILossllProfit on sale of assets Realisedlunrealised gainl {lossl on investments 671 {149) 281 196} 119} 96 1549} Add￿ tol{deducted from) reseTve5 1,301 11151 364 77 Full details of the income a￿1 expenditure are sh)wn in statement of financial aCt￿lI1e5 on page 16 and in the les to the a¢count5. The Trustee Board wishes to place on record its sirtere thanks lo all priests, the Curia Office staff, parish vol￿teerS and external professions for their efforts on behalf ol the Trust. Roservgs Policy The Trustee Board has not determined a fixed amount of general reserves that are required bul consider that the reserves need lo be maintained at least al the present level in order lo meet possible shortfalls in income and to be able to respond to requests for funding. Page 5

DIOCESE OF MIDDLESBROUGH TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 PUBLIC BENEFIT, ACHIEVEMENTS AND PERFORMANCE In preparing this report, the Directors of the Corporate Trustee confirm that they have complied with their duty In the Charities Act 2011 to have full regard lo the public benefit guidance published by the Charity Commission's guidance in the exercise of their powers and duties. The provision of public benefit provided by the Charity includes the provision of religious Ceremonie$ (such as baptisms, weddings and funeralsl, maintaining religious burial grounds, celebiatsng public Masses and providing and maintaining places of worship. There is also a benefit to the general public since churches can be accessed, by people of all faiths and none. for personal spiritual contemplatton. Parishes are, themselves, communities which contribute to the moral and spiritual wellbeing of those who attend. and. from these ￿ntres, edueational, social and pastoral work is carried out as a practical expression of farth. In supporting the parish endeavour, the Diocese has a number of agencies which provide central services. Details of this provision are shown below. Youth Ministry Father Phil Cunnah 15 the Curial lead in work with young people and lakes a major role in the organisation of the Youth and Liturgy work of the diocesan pilgrimage lo Lourdes. In addition lo this work and the running of his parish, Father Phil has a national chaplaincy role. Thg Vicariate for Splrltuallty and Worship The Vicariate oversees the work of the Diocesan Director of Music. The DI0￿$an Master of Ceremonies and the Historic churehes Commission. which includes Diocesan Pilgrimages such as the annual pilgrimages lo Lourdes and Walsingham. In this work, the Vicariate encourages and supports autonomous work as necessary. Over the past year, the pace of the Vicariate in other matters has been dictsted by the retirernent of the Diocesan Adult Formation Diiector, who had assumed a significant portion of the practical work the Vi¢8riate in various area5. The remit of the new Adult Formation Director has been reshaped. Their work will be overseen by the Episcopal vicar for Christian Discipleship. Much of the remaining work of the Wicariale for Spirituality and Worship is unchangecl. The Council supports Extraordinary Ministers of Holy Communion and Ministers of the Word through initial and ongoing formation_ Input al Deanery meetings reinforces the support provirjed. In October, the Diocese hosts an Inspiration Day for these ministers which is attended by approximately f04Jr hundred people from across the Diocese. In the Jubilee Year of 2025, the Vicariate is responsible for the Jubilee Pilgrima9e lo Rome made by around Ihirty-five official pilgrims, with other making their own way to Rome al the same lime. Addib"onally, the Jubilee Cross was repositioned from the Lady Chapel to Cathedral for the Year The Jubilee Pilgrimage Way, from the Cathedral to the Lady Chapel, has also been used by some, with many sch()ol groups utilising the final part of the Way during their annual summer pilgrimage days. The retirement of the Adult Formatson Director has impacted the Vicariate's capacity lo offer further formation and complete its regular work. Renovation of the Vicariate's structure 1$ required in early 2026. However. the work of the Historic Churches Commission has flourished with a well-attended study day concerning the listed buildings in the Diocese and those with care of them. Oversuhl of these buildings is both supportive and comprehensive, thanks lo a well-conslituted committee working under the leadership of Mgr Hogan. The Vicariate recognises that these initiatives, and others that are beyond our current capacity. are an essentsal part of the evangelisation and outreach work of the Diocese Page 6

DIOCESE OF MIDDLESBROUGH TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Edu¢4tion NPCAT academy trust, currently, has an interim CEO in post until August 2026 following the resignation of the former CEO. The B08rd has 8ppointed a new Chair and all mernbers of the board have been appointed since June 2024. The interim CEO has experience of SCRCAT in the south of the Di￿eSe and the Board of SCRCAT IS, Currently, reeruiling directors in order to ensure that il has a full complement of skills lo govern effectively. Throughout the Diocese, with the eX￿ptIon of one school, the quality of education is deemed to be good or better but all schools have strong leadership and management, behaviour and attitudes and personal development judgements. All schools, locally and nationally, face problems with SEND provision, budget constraints and recruitment and retention. The recruitment of practising Catholic leaders is an ongoing challenge that the Diocese works with the schools and Trusts to address. Vocatlons Recent experience has been mixed. Two potential students for Valladolid withdrew al the last minute creattng frLJStr8tion and embarrassment. However, we do still have one potential sludenl for next year. In a previous report, we referred lo a Nigerian student who had expressed an interest and we are still exploring possibilities. The position with deacons is much more positive with foul ordained lo the diaconate this year. three pemianent deacons and one Iransienl who should be ordained lo the Priesthood later this year. There ale also two stsjdents for the diaconate, both of whom are doing very well. Work of the Tribunal The Ministry of the Tribunal is often a last resort when a marriage has completely broken down and has ended in a civil divorce. A declaration of nullity may be requested for a number of reasons. Most commonly, someone Wants lo enter into another union or is already in another union and wishes lo regularise the situation in the eyes of the Catholic Church so that they may participate more fully in its life. These are difficult limes and care and generosity are needed lo guide them. The Tribunal is also involved in processing cases concerning clergy in co operation with the National Tribunal Service, established under the Catholic, Bishop's Conference of England and Wales, and the Holy See, with the Dicastery for the Doctrine of the Faith IDDFI an¢J the Dicaslery for Clergy. Work of the Chancery The main work of the Chancery is the prixessing of marriage papers, sometimes wottdwide. for couples where the Catholic paty, at least. is resident within the diocesan boundary. This work includes enabling marriages to take place legally (both civilly and canonicallyl.. ensuring that the property of the Church is correctly protected and administered on behalf of the people to whom Il properly belongs. Olhef matters dealt with by the Chancery include advi￿ lo the Bishop on matters of public good and public order,. liaising with outside agencies {bol outside of the Church itself and within the Church bul outside of the Diocesel., enquiries from people regarding the status of themselves or their parisheslchurches in Canon Law. In short, the Chan￿ry Wofks lo ensure that the Church works properly on behalf of all its members. Vlcarlate for Chrl8tlan Dlsclpleshlp This Vicariate encompasses a number of elements including Adult Formats'on. Caritas, Bishop's Council for Marriage and Family Life, Justice and Peace, Hospita15, Prisons, Liaison for Catholic Fellowship and LGBTQ+ Ministry and il forms a link with the wider community beyond the bounds of the liturgical and spiritual life of the Diocese A priest, working part lime, together with adminislrab.ve support from the Curial Office. work5 With volunteers from the DI0￿Se, upon whom much of the work depends. and encourages the various agencies. In Marriage and Family Life, most of the volunteers who completed the Marriage Care Training Course resigned Page 7

OIOCESE OF MIDDLESBROUGH TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 from the MFL Council due lo the lack of uptake of this service by diocesan priests. They do, however, ¢onb'nue to offer marriage preparation through Marriage Care lo any couple preparing for marriage who are directed to them by priests. A new Bishop's Counol for Marriage and Family Life needs lo be appointed. One new development is the establishment of a John Paul 11 Fund lusing resources from the sale of the former John Paul 11 Pastoral Centre in Middlesbrough). A small group administers this fund, making grants lo support initiatives in the Middlesbrough and Redcar & Cleveland areas, for chaflties of any kind which are serving those in need, based on the principles of Catholic Social Teaching. The retirement of the Adukt Formation Adviser means that the Diocese has lo make a decision on the future of this position. There are sorne good ecumenical links at local and diocesan level, though there is less interfaith contact. Communications falls within the ambit of the Episcopal Vicariate for Stewardship and Administration. Work is performed by a part time eonsultanl whose duties include editing the monthly Catholic Voice newspaper, which is available free in all parishes, running the social media platforms and promoting the Diocese via local and national media. The consultant also assists with crisis management and responds to press queries in co ordinab.on with the Bishop, Chief Operating Officer and department heads. Pri$on Chaplaln¢y There are seven prisons wrthin the Diocese of Middlesbrough covering the whole range of categories.. local. remand. maximum security. women and young people. Each is served by a priest chaplain, or deacon or volunteer, of varying contracted hours to celebr8le Mass and other sacraments and respond lo the pastoral needs of piisoners as requested. Roman Catholi¢ Chaplains also play their part as members of the multi faith chaplaincy teams in each prison and contribute lo the daily round of prison life in a variety of other ways as quired by the prison service. Roman Catholic Chaplains, like all Chaplains, receive regular training and development opportunities provided by the prison service. Slck and Retired Priests Care of our retired priests comes witrin the remit of the Vicariale for the Clergy. The local Deans still have an important part lo play lo make our reb.red priests feel that they remain involved in the life of the local church by attending Deanery conferences if possible as well as other spiritual and social gatherings. The Retired Priests, Welfare Committee meets several limes a year and the practical needs of each retired priest are discussed with the aim that their needs, from housing to healthcare. are met. The Diocese 5UPPOrts priests who have retired from active ministry by providing accommodation and financial assistance. Retired priests also have the services of our Care and Welfare Officer. Their independence is important lo them as it is lo us all. Our Care and Welfare Consultant, with her in deplh knowledge of the needs of older people eoming from her long professional career in nursing, visits our retired men to offer them advice and reassurance about any health issues they may have. 11 is clear that this is much appreciated and she has a deeper insight into these issues than might another priest. Our active retired priests are a great help in their willingness to supply cover for holidays. illness etc. Every year the Bishop meets with the reb.red priests to celebrate Mass together and then have lunch in convivial and relaxed atmosphere. The chance to meet up and share stories and anecdotes is enjoyed although some of the stories are re told from previous years. The annual collection for the retired priests and generous bequests are vital lo maintain them in a manner which offers them security after often more than fifty years of service lo the people of the Diocese. A speciftc appeal was made throughout parishes in order to raise additional funds. Page 8

DIOCESE OF MIDDLESBROUGH TRUSTEE'S REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Safeguarding The Bishop and Trustee 8oard of Directors are committed to safeguarding children and adults who may be al risk. Safeguarding is a standing item for every ordinary meeting of Trustee Directors, al which the Directors receive and discuss a ieport from the Safeguarding coordinator. The Safeguarding Sub Committee, ft)rmed in 2022 is chaired ty Mr Andrew Mcmillan (Trustee Direclorl who has significant safeguarding kno￿edge and experience. The Safeguarding Team consists of one part-lime Safeguarding Coordinator, one full-time Deputy Safeguarding Coordinator and two part b.me administrators. The Safeguarding Cooidinators predominately manage allegations, low level concerns and make timely referrals to statutory agencies when required. The team supports the parishes with safer recruitment which includes, but is not limited to, a Disclosure and Barring Service (DBS} check. The team arranges biennial Safeguarding training for Clergy and Parish Safeguarding Representatives IPSR's}. The team maintains strong relationships with the Curia. the wider Dio¢ese, slalulory agencies and other organisations in order lo provide a safe environment. In December 2023. the Catholic Safeguarding Standards Agency ICSSAI published its report following the audit which was undertaken in September of that year. The audit graded the Diocese of Middlesbrough as having demonslraled Film Progress toward meeting the safeguarding standards. and auditors reported that they 'found evidence of a long standing commitment to safeguarding that is promoted and modelled by senior leadeis" The Oiocese will be audited (now called an inspection) again in March 2026. Liturgy We continue to place a great deal of emphasis on all our liturgies. as such we have a wonderful lay faithful who are involved in all aspects of the ￿lebratiOn of Mass. We have good teams of ushers, welcomers, Ministers of the Word and Minislefs of Holy Communion. Every year we have training sessions and inspifalional days for all our lay faithful., they are an integral part of our Church. Once again, we had a wonderful study day for Ministers of Word and Holy Communion from around our Diocese and our thanks go out to all who assist in organising this. and other events. The annual pilgrimages lo Lourdes and Walsingham continue and were, On￿ again. led by the Bishop and provided opportunities for reflection and faith enhancement. In each year we have some wonderful liturgies. Most notable of these continues to be the annual Chrism Mass, held at the Cathedral, which brings together the family of the Diocese. We aim lo continue the high standards of liturgy throughout our Diocese for this coming year. VoluntegFS Many parishioners play an active part in parish life and they are central to fulfilling the Mission of the Church in the Diocese playing a vital role in the spiritual. pastoral and social life of their parishes. They serve as Extraordinary Ministers of the Eucharist and the Word, as calechisls, welcomers, altar servers. musicians and cleaners. Volunteers also visit the sick and the housebound and raise funds for the purpose ol provision of food parcels to families requiring such support. There are also those who work with the diocesan Safeguarding Team to ensure that all volunteers are DBS-checked lo the appropriate level for the role that they undertake. All of these roles provide part of the public benefit required within Charity Commission guidelines 2nd the Trustee Board wishes to express sincere thanks for the work that they do in helping to build and maintain paiish communities. FUTURE PLANS Since 2025 is a Jubilee Year, there is, again, the diocesan Jubilee Pilgrimage to Rome and the Diocese travelled between 6th and 11th October led by Bishop Terry. Page 9

DIOCESE OF MIDDLESBROUGH TRUSTEE'S REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Pope Francis opened the doors of si Peter's Basilica, to commence the Jubilee Year. on 24th December 2024 and the year will end with the closing of the doors on 6th January 2026. Other doors throughout Rome, St John Lateran, Sl Mary Major and Sl Paul Outside the Walls. opened al differing tsmes and all three will close on 28th December 2025. The ninth Worfd Day of the Poor will be held on Sunday, 16th November 2025 with the theme, "You are my hope. This was announced by Pope Leo on 13th June 2025, the feast day of Sl Anthony of Padua. Once again. the Diocese has plans for a Lourdes Pilgrimage. The next pilgrimage will take place be￿een 23rd and 30th May 2026. This will be the Diocese's 73rd Lourdes Pilgrimage. RISK ASSESSMENT The Diocesan Trustee Board has assessed the major risks lo which the Diocesan Trust is exposed, in particular, those related lo the operation and finances of the Trust, and is satisfied that the systems in place to mitigate our exposure to the major risks are operating effectively. The most signifi¢anl risks identified were Pastoral risks relating lo pafish life. The issue of the increasin9 burden on priests due lo serying additional churches and communitses was identified as significant. Other risks include declining Mass attendances, reducing numbers of priests in active ministry and the risk of failures in safeguarding matters. The Diocese addresses falling Mass attendance in a number of ways in¢luding Youth Mission. The Diocesan Vocatsons Direcloi is active in seeking suitable candidates for Ordination. In terms of safegvarding, the Diocese has a policy and parishes are monitored lor compliance. STATEMENT OF RESERVES Total reserves at 310ecember 2024 amounted to £62,854,93912023.' £60,713,028) and this is made up of.. Parochial reserves £38,223,335 {2023.' £37.267,610} which relate. principalty, to the assets and activities of individual parishes, and Curial reserves £24,631,60412023.' £23,445,418). Of this £4,184,188 represents the balance on restricted items which is not available for general purposes. Included in that restricted total is £1,440,927 being the amount held in the Retired Priests. Wettare Fund. Details of the restricted funds are included in Note 25 to the accounts. Unrestricted funds amoLrnt to £20,447,416 of which £1,107,072 is, in essence, a fi.xed asset fund. The balance of this is in eX￿sS of the £3.414,152 held on behalf of parishes and is sufficient to pemit the Trustee to continue in operation and lo fulfil its obligations. This year saw an increase in the valuation of investment properties of £2.188, 140 and, an unrealised reduction in the value of listed investments of £191,689. Total reserves are £62,854,939 and of this free reserves are £2,836,196. However this does not include investments which could be sold if necessary and amount to £5.808,059. If these are included free reserves would be £8,644,255. Page 10

DIOCESE OF MIDDLESBROUGH TRUSTEE'S REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 THE STATEMENT OF TRUSTEE'S RESPONSIBILITIES The Trustee Board is responsible for preparlng the Trustee's Report and the financial statements in accordan with the applicable law and United Kingdom Accoltnting Standards (United Kingdom Generally Ac¢epted Accounting Practice). The law applicable to charities in England and Wales requires the Trustee to prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these finan¢ial statements the Trustee is required to.. {al select suitable accounting policies and then apply them consistently.. {bl observe the methods and principles in the Charities SORP., Ic} make judgements and estimates that are reasonable and prudent., Idl stale whether applicable accounbng standards have been followed, subject to any material departures disclosed and explained in the financial stalemenls.. le} prepare the financial statements on the going concern basis unless it is inappropriate to assume that the DI0￿$e will continue in operation. In accofdance wth charities legislation, the Trustee is responsible for keeping proper accounting records which disclose, wth reasonable accuraw, al any time. the financial position of the DI0￿Se and enable it to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed dated 2 January 1928. The Trustee is also responsible for safeguarding the assets of the Diocese and hence for taking reasonable steps for the prevention and detects'on of fraud and other iiregularilies. Approved by order of the members of the board of the Twstee and signed on their behalf by.. Rt Rev Bishop T P Drainey Bishop of Middlesbrough Diocese of Middle brough Trustee Diocese of Mlddlesbrough Trustee Date.. 28 October 2025 Page11

DIOCESE OF MIDDLESBROUGH INDEPENDENT AUDITORS. REPORT TO THE TRUSTEE OF DIOCESE OF MIDDLESBROUGH UNQUALIFIED OPINION We have audited the financial statements of Diocese of Middlesbrough {Ihe 'charity'l for the year ended 31 December 2024 which comprise the Statement of financial activities. the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Report¢ng Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Praclicel. The financial ststements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland {FRS 1021 in preference lo the Accounting and Reporting by Charities. Statement of Recommended Practice Issued on 1 April 2005 which is ￿ferred to in the extant regulations but has been withdrawn. This has been done In order for the accounts lo provide a true and fair view in accordance with the GeneTally A¢cepted Accounting practi￿ effeclive for reporting ￿riodS beginning on or after 1 January 2015. In our opinion the financial statements.. give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming reSoUr￿S and application of resources for the year then ended.. have been properly prepared in accordance wth United Kingdom Generalty A¢¢epted A¢¢ounting Practice,. and have been prepared in accordance with Ihe requirements of the Charities Act 2011. BASIS FOR OPINION We conducted our audit in accordance with Internation81 Standards on Auditing (UK) IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibililies for the audit of the financial slalemenls section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial statements, we have concluded that the Trustee's use of the going cOn￿rn basis of accounb'ng in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that. individually or collectively, may cast significant doubl on the charity's ability lo continue as 8 going con￿rn for a period of at least tsvefve months from when the financial statements are authorised for issue. Our responsibilrties and the responsibilities of the Trustee with respect to going concern are described in Ihe relevant sections of this report. Page 12

DIOCESE OF MIDDLESBROUGH INDEPENDENT AUDITORS. REPORT TO THE TRUSTEE OF DIOCESE OF MIDDLESBROUGH ICONTINUED} OTHER INFORMATION The other information comprises the information included in the Annual report other than the financial statements and our Auditors, report thereon. The Trustee are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly slated in our Feport. we do not expTess any form of assurance conclusion Ihereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is matenally inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misslaled. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to 8 material misstalemenl in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing lo report in this regard. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION We have nothing to report in respect of the following matters where the Charities (Account$ and Reports) Regulations 2008 requires us to report to you rf, In our opinion.. the information given in the Trustee's ￿POrt is inconsistent in any material respect with the financial statements., or sufficient accounting records have not been kept.. or the fi'nancial statements are not in agreement with the accounting records and returns-, or we have not received all the information and explanations we require for our audit. RESPONSIBILITIES OF TRUSTEE As explained more fully in the Trustees, responsibilrties statement, the Trustee is ¥esponsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustee determine is necessary to enable the preparation of financial slalemenls that are free from material misstatement, whether due lo fraud or error. In preparing the financial slatemenls, the TrLtstee are responsible for assessing the charty's abilty to conts'nue as a going concern, dis¢losing, as applicable, matters related lo going concern and using the going concern basis of a¢eounting unless the Twstee either intend to liquidate the charity or to cease operations. or have no realistic altemative but lo do so. Page 13

DIOCESE OF MIDDLESBROUGH INDEPENDENT AUDITORS. REPORT TO THE TRUSTEE OF DIOCESE OF MIDDLESBROUGH (CONTINUED) AUDITORS. RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due lo fraud or error, and lo Issue an Auditors, report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee Ihal an audit conducted in accofdance with ISAS IUKI will always detect a material misslatemenl when il exists. Misststements can arise from fraud or error and are considered material if, individually Of in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis ol these financial slalernents. Irregularities, including fraud. are instances of non-compliance wth laws and regulations. We design proeedures in line with our responsibilities, outlined above, lo delecl material misslatemenls in respect of irregulaTlties, including fraud. The extent lo which our procedures are capable of detecting irregularities, including fraud is detailed below.. In identifying and assessing risks of material misstatement in respect of irregularities, ineluding fraud, the atjdit engagement tearn.. Obtained an understanding of the nature of the sector, including the legal and regularty framework that the Diocese operates in and how they are complyin9 Wlth the legal and regularity framework, Inquired of management and those charged with governance about their own Identification and assessment of the risks of irregularities including any known. actual. suspected or alleged instances of fraud, Discussed matters about non-compliance with laws and regu5atkons and how fraud might occur including assessment of how and where the financial statements might be SUS￿ptib1e to fraud. A3 0 result of these procedures we considered the most Slgnificanl laws and regulations which have a direct impact on the financial statements are FRS 102, Charities SORP IFRS 1021, and the DI0￿Se. goveming document. We performed audit procedures to detect non-compliance which may have a material impact on the finan¢ial statements which included reviewing the financial slalemenls including the Trustee's report and remaining alert lo new or unusual transactions whieh may not be in accordanee with the governing documents. The audit engagement team identified the risk of management override of Controls and income recognition as the areas where the financial statements were most susceptible to material misslalemenl due to fraud. We designed audit procedures to respond lo the risk. recognising that the risk of not detecting a material misslatemenl due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by. for example, forgery or intents'onal misrepresenlakn'ons. or through collusion. Audit procedures perfomied included, but were not limited lo.. testing manual journal entries and other adjustments evaluating the business rationale In relation lo significant or unusual transactions and transactions entered into outside the normal course of business challenging judgments and estimates reviewing income transactions around the year end lo look for potential 'window dressing" A further description of our responsibilities for the audit of the ftnancial statements is located on the Financial Reporting Council's websrte at: wvM.frc.or .ukJauditorsres nsibililies. This description fomis part of our Auditor5, report. Page 14

DIOCESE OF MIDDLESBROUGH INDEPENDENT AUDITORS. REPORT TO THE TRUSTEE OF DIOCESE OF MIDDLESBROUGH ICONTINUEDI USE OF OUR REPORT This report is made solely to the Charity's Trustee in accordance with Part 4 of the Charities {Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale to the Charitys Tfuslee those matters we are required lo stale to them in an Auditors. report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the charity and its trustee for our audit work, for this report. or for the opinions we have formed. Waltons Business Advlsers Llmlted Harbour Walk The Marina Hartlepool TS24 OUX Dale.. 29 October 2025 Waltons Business Advisers Limited are eligible to a¢t as auditors in tem)s of section 1212 of the Companies Act 2006. Page 15

DIOCESE OF MIDDLESBROUGH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 As Trslaled Total funds 2023 Unrestricted funds 2024 Restricted lund$ 2024 Total funds 2024 Note INCOME FROM: Donations and legacies Charitable activities Other trading activib.es Investments other income 2,951.972 452,005 330,333 2,241.657 350.926 391,461 3.343,433 452,005 399,907 2,273,805 370,926 3,428,261 390,204 343,587 1. 894, 713 113,624 69.574 32,148 20,000 TOTAL INCOME 6,326,893 513,183 6.840.076 6. 170,389 EXPENDITURE ON: Raising funds Charitable activities 45,413 6.010,743 87.875 442.789 133,288 6,453,532 119,706 6,110,154 10 TOTAL EXPENDITURE 6,056.156 530,664 6.586,820 6.229, 860 NET INCOMEIIEXPENDITURE> BEFORE NET GAINSIILOSSESI ON INVESTMENTS Net gainslllossesl on investments 270,737 1.888,655 {17A81} 253,256 1,888,655 (59,471J (749,671J NET INCOMEI{EXPENDITUREI Transfers be￿een funds 2,159.392 133,S011 117,4811 33,501 2,141.911 (809, 142) 25 NET MOVEMENT IN FUNDS 2.125,891 16,020 2,141,911 (809, 142) RECONCILIATION OF FUNDS: Total funds brought forward as P￿vIouslY ststed Prior year adjustment 55,924.075 4,788,953 60.713,028 58, 780,824 2,741,346 Total funds brought foward as reslaled Nel movement in funds 55.924.075 2,125.891 4,788.953 16,020 60,713,028 2,141,911 61,522, 170 (809, 142) TOTAL FUNDS CARRIED FORWARD 58.049,966 4,804.973 62,854,939 60.713,028 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 20 10 47 form part of these financial stalemenls. Page 16

DIOCESE OF MIDOLESBROUGH BALANCE SHEET AS AT 31 OECEMBER 2024 As restated 2023 2024 Note FIXED ASSETS Tangible assets Investments 16 19 18 9.966,938 5,808,059 39,438,773 10.252,905 5,995,134 40,233,306 Investment property 55,213,770 56,481,345 CURRENT ASSETS Debtors due after more than 1 year Debtors due within 1 year Investments Cash al bank and in hand 689,147 347,180 4,294.917 16,742.468 687,425 598,912 4,498,832 12,730.601 21 22,073,712 78.515,770 CURRENT LIABILITIES Creditors.. amounts falling due within one year 22 114,037.3591 (13,860,952) NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES 8,036,353 4,654,818 63,250,123 61, 136, 163 Creditors.. amounts falling due after more than one year 23 {395,184) (423, 135) TOTAL NET ASSETS 62,854.939 60,713,028 CHARITY FUNDS Restricted funds Unrestricted funds 25 4.804,973 4,788,953 Designated funds General funds 25 25 1,239.411 56,810.555 1,267,250 54,662,825 Total unrestricted funds 25 58,049,966 50,924,075 TOTAL FUNDS 62.854.939 60,713,028 Page 17

DIOCESE OF MIDDLESBROUGH BALANCE SHEET ICONTINUEDI AS AT 31 DECEMBER 2024 The financial statements were approved and aulhorised for issue by the Trustee and signed on their behalf by.. Rt Rev Bishop T P Drainoy Bishop of Middlesbrough Diocese of Middlesbrough Trustee Date.. 2f/,4 ioLS- The notes on pages 20 to 47 fom part of these financial statements. Page18

DIOCESE OF MIDDLES8ROUGH STATEMENT OF CASH FLOWS FOR THE YEAR ENLIED 31 DECEMBER 2024 2024 2023 CASH FLOWS FROM OPERATING ACTIVITIES Net cash used in operating activities 11,797,333) {t,044,890) CASH FLOWS FROM INVESTING ACTIVITIES Dwidends. interests and rents from investrnents Proceeds from the sale of tangible fixed assets Purchase of tangible fixed assets Proceeds from sale of investments Purchase of inveslmenls 2,273,805 365,000 (10,0201 3.636,933 1562.755} 1.894.713 (457, 199) 323,389 (947.785) NET CASH PROVIDED BY INVESTING ACTIVITIES 5,702,963 813.118 CASH FLOWS FROM FINANCING ACTIVITIES Repayments of borrowing 1127,951} (227,951) NET CASH USED IN FINANCING ACTIVITIES 1127,951) (227,951) CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR 3,777,679 (459, 723) 6.919,670 Cash and cash equivalents at the beginning of the year 6,459.947 CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 10,237,626 6,459,947 The notes on pages 20 to 47 form part of these financial ststements Page 19

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 GENERAL INFORMATION The Roman Catholic Diocese of Middlesbrough is govemed by a Trust Deed daled 2 January 1928 and is registered with the Charity Commission of England and Wales (No 233748}. The sole Trustee of the charity is a Trust Corporation which was incofF)orated on 17 De￿rnber 1997. The registered office address is.. Curial Offi￿$ 50a The Avenue Middlesbrough TS5 6QT ACCOUNTING POLICIES 2.1 Basis of preparation of financial statements The financial ststements have been p￿Pared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Statement of Recommended practi￿ applicable lo charities p￿parIng their financial slalemenls in accordance with the Financial Reports'ng Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Stsndard applicable in the UK and Republic of Ireland {FRS 102) and the Charities Act 2011. Diocese of Middlesbrough meets the definition of a public benefit entity under FRS 102. Assets and liabilrties are initially recognised at hisloncal cost or transaction value unless otherwise slated in the relevant accountin9 policy. 2.2 Going concern The financial statements are prepared on a going concern basis and the Trustee ¢onsiders that there are no material uncertainties about the Diocese's ability to continue as a going concern. 2.3 Subsidtary company All of the turnover of the Diocese's wholly owned subsidiary, Diocesan Property Management Limited, represents sales of building construction to the Diocese. The subsidiary has no material net assets or liabilities. There is no significant difference be￿een the Statement of Financial Activities and the Balance Sheet of the Diocese. as presented. and the consolidated group figures, and accordingly the subsidiary has not been consolidated within these financial ststements. Page 20

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES {CONTINUEDI 2.4 In￿rne All income is recognised once the Diocese has enlitlemenl lo the income, il is pn)bable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuTacy the amount feceivable. Evidence of entitlement to a legacy exists when the Diocese has sufficient evidence that a gift has been left lo them (through knowledge of the existence of a valid will and the death of the benefaclorl and the executor is satisfied that the property in question will not be required lo satisfy claims the estate. Receipt of a legacy musl be recognised when it is probable that il will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed lo the Diocese, can be reliably measured. In the event that a donation is subject to conditions which require a level of perfomiance before Ihe Dio¢ese is entitled to the funds, the income is deferred and not recogni5ed until those condib'ons are fully met, or the fulfilmenl of those conditions is wholly within the control of the Diocese and it is probable that those wndilions will be fulfi'lled in the reporting period. Collections and Fundraising income are recognised on receipt. Investment income is credited lo income when il is receivable and the amount can be measured reliably by the Diocese., this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received ol the dividend due. other income is recognised in the period in which it is re￿1vable and to the extent the goods have been provided or on completion of the service. 2.5 Expendlture Expenditure is recognised once there is a legal or conslruclive obligatK>n lo transfer economic benefit to a third paty, ￿ is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured feliably. Expenditure on Yaising funds inclLtdes all expenditure incurred by the Diocese lo raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charilable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Diocese's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. Page 21

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES ICONTINUEDI 2.6 Tangible fixed assets and depreclation- Freehold land and buildings Churches, Presbyterles, Halls and Offices etc Functional Land and Buildings li.e. Land and buildings used for the prime purpose of the Diocese), which are still in use by the Diocese are included in the financial statements at original cost or where this is not available al an estimate of their Historic cost lof in the case of donated buildings, at an estimate of their fair value at the date of ￿CeIpt). All new functional buildings. improvements and major renovations are capitalised at the cost of ¢onslruction. Buildings are depreciated at rates calculated lo write off their estimated Historic cost {tess the eslimaled residual value) evenly over the whole of their useful life. The estimate of the useful life of a building varies on the condition and future use of the building. however, in general, il is expected that a building in a reasonable state of repair will continue in use without major renovation or improvements for the following period.. Unlisted Churches Cathedral and Listed Churches Presbyteries Other bLJildings 25 to 100 yeafs 100 10 200 years 25 10 100 years 25 10 100 years Depreciation rates are calculated using the age of the building and its expected useful life. Details and addresses of the DIc￿eSan churches and other buildings can be found in the Diocesan Yearbook. Voluntary Aided S¢hools and Academles Land The Diocese owns the land on which its Voluntary Aided Schools and Academies are built. The nature of the occupation of the land by these exempt and excepted charitie5 means that the Diocesan Trustee does not have the power to dispose of the land, until the school ceases its occupation, which in tum would require the approval of the governors and the Secretary of Slate. The Diocesan Tiuslee considers ils ownership to be in the nature of custodianship of the assets and therefore these are not C8Pitalised in the financial ststements. The cost of any land acquired for the purposes of a Voluntary A'ded School or Academy 45 charged lo the Slalernent of Financial Activity in the year of acquisib"on. If a school is empty and subsequently the land 15 to be sold then it will be valued in line with expected sale proceeds as soon as a reasonable offer of pur¢hase has been made. Buildings The School buildings are occupied, extended and repaired by the school governors. The natLFre of the occupation of these buildings by these exempt and excepted charities means that the Diocesan Trustee does not have the power lo dispose of the buildings. until the school ceases its occupakn'on, which in turn would require the approval of the governor5 and the Secretary of Slate. Any proceeds of sale would be subject lo clawback by the Secretary of Slate ol any related grant aid provided. The Diocesan Trustee considers ils ownership lo be in the nature of custodianship of the assets and therefore these are not capitalised in the financial staternenls. The School governois account for the building. improvement an(J repair ¢osls of the schools less any granls received in respect of these costs. Details of the Diocesan Voluntary Aided Schools and Academies (both freehold and leasehold} are given in the Dictesan Yearbook. Page 22

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES (CONTINUED} 2.7 Tangible fixed a$sets and depreclalion - other asstts Fixture$, Flttlng$ and Equlpment Fixtuffts, Fittings and Equipment which were in use at 31 December 1995 and which had a current replacement eosl exceeding £1.000. have been capitalised and included in the financial statements at an estimate of their Historic cost {or in the case of ¢Jonated assets, at an estimate of the value al the date of acquisition). Subsequent acquisitions wth a cost lor in the case of donated assets, estimated valuel of over £1,000 are capitalised on the same basis. They are depreciated al rates calculated to write off the cost or valuation. less the estimated residual value, of each asset evenly over its expected useful life as follows.. Church Furniture Office Equipment Parish Hall Equipment 25 10 200 years 3 10 5 years 20 years Contents of presbyteries are not included in the financial statements. Works of Art and Hlstorlc Treasures The Diocese owns several individual Works of Art and Historic Treasures and Plate. The items have extraordinarily long lives and are worth preserving perpetually. The collection is not recognised in the Balance Sheet because details of the cost of these items are not available and the cost to the Diocese of obtaining valuations would exceed the benefit arising from doing so. MotOT Vehlcles Motor Vehicles have been capitalised and incltsded in the financial statements at an estimate of their Historic cost {or in the case of donated assets, at an estsmate of the value at the dale of acquisilionl, and are depreciated al rates calculated to write off the cost or valuation, less the estimated residual value of each asset. over ils expected useful life as follows.. Motor Cars 25.kn Reducing Balance Page 23

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES (CONTINUED) 2.8 Investments Fixed asset investments are a fom) of financial instrument and are initially recognised at their transaction cost and subsequently measLtred al fair value at the Balance sheet dale. unless the value cannot be measured reliably in which case it is measured at Cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'GainsllLossesl ors investments, in the Statement of financial aclivilies. Investments in subsidiaries and associates are valued at cost less provision fof impairment. Investment properties are shown at the Trustees, best estimate of market value which reflects the annu81 movement on the house price index for the Diocesan geographical location and other known circumstances. All changes in value during the year are reported in "Gains and Losses on Revaluation and Investment Asset Disposals. section of the Statement of Financial Activities. Current asset investments are designated as such as they are highly liquid and the DI0￿Se has specified that they be made readily available to convert lo cash within a short term notice period of no longer than 6 months. 2.9 Debtors Trade and other debtors are recognised at the settlement amount after any tfftde dis¢ount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 2.10Cash al bank and Sn hand Cash at bank and in hand includes cash and short-lerm highly liquid Investments with a short malurrty of three months or less from the dale of acquisition or opening of the deposit or similar account. 2.11 Llablllties and provi5i0ns Liabilities are recognised when there is an ob5igalion at the Balance sheet dale as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement. and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Diocese anticipate5 it will pay to setue the debt or the amount it has received as advanced payments for the goods or services it musl provide. 2.12 Flnan¢lal Instrurn•nts The Diocese only has financial assets and financial liabilities of a kind that qLSalify as basic financial instrument5. Basic financial instruments are initially recognised at transa¢tion value and subsequently measured al their settlement value. Page 24

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES {CONTINUEDI 2.13 Pensions The Diocese contributes 60/0 of gross salary lo a group personal pension scheme for staff who elect to join. The scheme is a defined contributions scheme and the pension charge represents the amounts payable by the Diocese to the fund in respect of the year. Eligible teachers and former teachers subscribe to the Teacherf5 Pension Scheme {TPSI supperannualion scheme which is a defined benefits scheme. The TPS 15 an unfunded scheme and contributions are calculated lo spread the cost of pensions over employees, working lives with the Diocese in such a way that the pension cost is a substant￿ally level per￿ntage of current and future pensionable payroll. The contributions are delefmined by the Government Actuary based on quadrennial valuations using a prospective unit credit method, TPS is an unfunded mulliemployer scheme with no underlying assets lo assign between employers. Consequently, the TPS is treated as a defined contribution scheme for accounting purposes and the contributions recognised in the period to which they relate. 2.14 Fund a¢¢ounling General funds are unrestricted funds which are available for use al the discretion of the Trustee in furtherance of the general objectives of the Diocese and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustee for particular purposes. The aim and use of each designated fund is set out in the notes to the financial stslements. Reslricled funds are funds which are lo be LTsed in accordance with specific restrictions imposed by donors or which have been raised by the Diocese for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income. gains and losses are allocated lo the appropriate fund. P2ge 25

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEI4iENTS FOR THE YEAR ENDED 31 DECEMBER 2024 CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGMENT Estsmates and judgments are continually evaluated and are based on historical experience and other fa￿Or$, including expectations of future events that are believed to be reasonable under the circumstances. Critical accounting ests"mates and assumptions.. The Diocese makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimate and assumption that has a significant risk of caL*sing a material adjustment to the carrying amounts of assets and liabilities within the next financial year is discussed below. The Trustee has made the decision not to commission an external valuer to value Investment propety. Instead the Investment property is revalued annually using the UK House Price Index Summary prepared by the ONS. The Diocese has properties in both the North East ané York regions and therefore uses these values to inform the current year revaluation. To December 2024 the average house price increase was 6.70A in the North East and 5.gyo in Yorkshire and the Humber. An annual increase of 5.9Q/o has been applied to 811 investment propety as the Trustee believed Ihis to be representative of the portfolio. Had propety not been revalued it would be included al historic cost and this is disclosed in note 18. INCONIE FROM DONATIONS AND LEGACIES Parochial Parochial Curlal CuTlal Unrestricted Restricted Unrestricted Restricted Funds Funds Funds Funds Total Total 2023 Donations 2,653,499 213,115 264,809 53.960 17.013 68.345 60,436 12,256 2,995.757 347.676 2,827,950 600.311 Legacies 2,866,614 318,769 88,358 72.692 3.343.433 3,428,261 Total 2024 2,628,214 298,729 267, 732 233,586 3.428,261 Total 2023 Page 26

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 INCOME FROM CHARITABLE ACTIVITIES Parochial Unrestri¢ted Unrestricted Funds Funds Curial Total Total 2023 School Service contribub.on 264,725 264.725 187,280 226,492 163, 712 Stipends 187,280 187,280 264,725 452.005 390,204 Total 2024 163, 712 226,492 390,204 Total 2023 INCOME FROM FUNDRAISING ACTIVITIES Parochlal Curlal Unrestricted Restricted Funds Funds Total Total 2023 Fundraising 221.090 109.243 69,574 290.664 109,243 245,924 97,663 Papers. candles & piety stalls 330,333 69,574 399,907 343.587 Total 2024 279,645 63,942 343,587 Total 2023 INVESTMENT INCOME Parochlal Curfal Curial Unrestrict¢d Unrestrlcted Restricted Funds Funds Funds Total Total 2023 Rents and hire fees Investment income 688,311 649,134 540.504 273,692 9,576 348 22,224 1,347.021 540.852 385,932 1,266,884 482, 734 145,095 Bank inlerest received 90,016 778,327 1,463,330 32,148 2.273,805 1,894,713 Total 2024 781,468 1,082.457 30, 788 1,894,713 Total 2023 Page 27

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 OTHER INCOMING RESOURCES Parochlal Unrestricted Unrestricted Restricted Funds Funds Funds Curlal Curial Total Total 2023 Gainl Ilossl on sale of fixed assets 253,181 49,245 253,181 117.745 Other income 48.500 20,000 113,624 302,426 48,500 20,000 370.926 113.624 Total 2024 67,447 46,177 113,624 Total 2023 RAISING FUNDS Summary by fun(J type Parochlal Unrestricted Rgstricted Funds Funds Curlal Total Total 2023 Raising funds 45,413 87,875 133.288 119, 706 45,413 87.875 133,288 119,706 Total 2024 10,650 109,056 119, 706 Total 2023 10. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTivrriES Surnmary by fund type Unrestrictod Restricted funds funds 2024 2024 Total 2024 Total 2023 Parochial 3,845,936 2,164,807 186,883 255.906 4,032,819 2,420,713 3.799.217 2,370,937 Curial 6,010,743 442,789 6,453.532 6,110,154 Total 2023 5,615,640 494,514 6,110,754 Page 28

DIOCESE OF MIDDLES8ROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2024 11. ANALYSIS OF EXPENDITURE BY ACTIVITIES Actlvities undertaken directly 2024 Support costs 2024 Totsl funds 2024 Total funds 2023 Parochial Curial 4,032,819 1,905,680 4.032,819 2,420.713 3,799,217 2,310,937 515.033 5,938,499 515,033 6,4S3,532 6,110,154 Total 2023 5,667,312 442,842 6,110,754 Page 29

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. ANALYSIS OF EXPENDITURE BY ACTIVITIES ICONTINUEDI ANALYSIS OF DIRECT COSTS Total funds 2024 Total fvnds 2023 Patochlal 2024 Curlal 2024 Staff costs Depreciation Repairs, Maintenance & Upkeep of properties Establishment costs 612.792 30,926 355,182 612,792 184,168 1,396,994 1,080,521 375,990 193.656 130.393 245.621 208,619 51,040 93,185 178,784 11.379 23,693 7,257 709,277 226.837 3,000 25,976 94,712 84.418 187 742. T55 184,488 1,261,310 1,029. 177 312, 180 153,026 114,710 181,863 199,280 49, 753 234, 187 106, 781 75,059 42,544 3,433 638,092 161,086 3,000 25,974 95,853 52,327 434 153,242 1.041,812 1,080,521 375,990 193,656 130.393 245.621 Administration Domestic Motor and travel General Church expenses Bishop & Clergy Support Schools Donations Special Collections SundTies Priest training Youth Setvice 208,619 51.040 14,569 45,241 78,616 133,543 11.379 23,693 7.257 156,561 226,837 3,000 25,976 59.382 84.418 187 Services to Parishes & Chaplaincies Reb'red Priest WelfaTe fund Jusknce & Peace S52,716 National assessments Finance charges Governance costs Diocesan events 35,330 4,032,819 1,905,680 5,938,499 5,667,312 Total 2023 3,799.217 1,868,095 5.667,312 Page 30

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED) ANALYSIS OF SUPPORT COSTS Total funds 2024 Total funds 2023 Curial 2024 Staff costs Establishment costs Administfation Motor and travel Bishop & Clergy Support 394.841 34,583 26,196 14,810 44.603 394,841 34,583 26,196 14.810 44.603 353, 742 35,609 26,317 12,990 14.184 515,033 515,033 442,842 12. AUDITORS. REMUNERATION 2024 2023 Fees payable to the Diocese's auditor for the audit of the Diocese's annual financial statements 19,100 17,325 Fees payable lo the Diocese's auditor in respect of.. Accountancy and taxation advice 5.200 5, 195 13. STAFF COSTS 2024 2023 Wages and salaries Social security costs Contribution to defined contTibulion pension schemes 842.153 81,362 84,118 761,549 71,888 263,060 1,007.633 1,096,497 Page 31

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. STAFF COSTS ICONTINUEDI The average number of persons employed by the Diocese dursng the year was as follows.. 2024 No. 2023 No. Curial employees 25 24 The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was.. 2024 No. 2023 No. In the band £60,001 £70,000 In the band £70,001 £80,000 In the band £80.001- £90,000 In the band £100,001- £110.000 Total remuneration lo key management personnel in the year (including pension and employers Nll was £291.67612023- £272,418). 14. TRUSTEE'S REMUNERATION AND EXPENSES During the year, no Trustee le￿ived any remuneration or other benefits (2023- £NIL). During the year ended 31 December 2024. no Trustee expenses have been incurred (2023- £NILJ. Page 32

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 15. NET GAINSILOSSES ON INVESTMENTS Parochlal Curial Unrestricted Unrestricted Funds Funds Total Total 2023 Realised gains 100.101 1.124.703 21,203 642,648 121,304 1,767,3S1 (13,141) (736,53Q) Unrealised gains 1.224,804 663.851 1,888,655 {749.6711 Total 2024 (200, 190) (549,481) (749,6TIJ Total 2023 16. TANGIBLE FIXED ASSETS Freehold property Motor Fixtures and vghicles fittings Office equlpment Total Cost Al 1 January 2024 Additions Disposals 14,717,666 63,173 4,785 810.636 103.005 15,694,480 5,235 10.020 {169,6551 (169,6551 At 31 December 2024 14,548.011 67,958 810,636 108,240 15,534,845 Depreciation Al 1 January 2024 Charge for the year On disposals 4,922,943 154,044 {57,8361 30,505 10,128 408,737 12.766 79.390 7,230 5,441,575 184.168 157,836 At 31 December 2024 5,019.151 40,633 421,503 86,620 5,567,907 Net book value At 31 December 2024 9.528.860 27.325 389,133 21,620 9,966,938 At 31 December 2023 9, 794. 723 32,668 401, 899 23,615 10,252.905 Page 33

DIOCESE OF VIIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 17. TANGIBLE FIXED ASSET SPLIT Freehold property Motor Flxtures Office vohicles and fittings Equipment Total Curlal Cost At 1 January 2024 Additions 1,445,040 63,173 4.785 103,005 5,235 1,611.218 10,020 Al 31 December 2024 1,445,040 67.958 108,240 1,621,238 Depreciatlon Al 1 January 2024 Charge for year 372,553 13,568 30,505 10,128 79.390 7,230 482.448 30,926 At 31 December 2024 386,121 40.633 86.620 513.374 Net book value At 31 December 2024 1,058,919 27,325 21,620 1,107,864 At 1 January 2024 1,072,487 32,668 23,615 1.128.770 Parochial Cost At 1 January 2024 Disposals 13,272,626 1169,6551 810,636 14,083,262 (169,6551 At 31 December 2024 Depreciation At 1 January 2024 Charge for year On disposals 13,102.971 810.636 13,913,607 4.550,390 140,476 {57,8361 408,737 12,766 4,959,127 153,242 157,8361 Al 31 December 2024 Net book value 4.633.030 421.503 5,054,533 At 31 December2024 8,469,941 389,133 8,859,074 8,722,236 401.899 9.124,135 At 1 January 2024 9,528,860 27.325 389,133 21.620 9.966.938 Total 2024 Total 2023 9,794, 723 32,668 401, 899 23,615 10,252,905 Page 34

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 18. INVESTMENT PROPERTY Parochlal Curial Total Valuation At 1 January 2024 {as restsled) Additions Disposals Revaluation 19,006,947 21,226,359 40,233,306 35,330 9,072 44,402 {1491 13,026,927) {3,027,0761 1,124.703 1,063,438 2.188.141 Al 31 December 2024 20,166,831 19,271,942 39,438,773 As explained in the accounting policies investment prope￿eS are shown at the Trustees, best estimate of market value which reflects the annual movement on the house prKe index for the Diocesan geographical location and other known circumstances. There are no reslriclions on the ability lo realise investment property or on the remittance of income or proceeds on disposal. The historical cost of investment property {Curial} on 31 December 2024 was £11,932,582 12023.- £11,932,582). See also note 25. 19. FIXED ASSET INVESTMENTS- CURIAL Inve$tments In Investments Subsldlary In Listed Unlisted companles associates Inveslments Investments Total Cost or valuation At 1 January 2024 Additions Disposals Revaluations Inveslmenl manager lees 4,000 5.983,266 59,023 {229,235) 1191,689) 7,866 181.878 5.995,134 240,901 (229.2351 {191,6891 17,052} (7.0521 At 31 December 2024 4.000 5,621.365 182,692 5.808,059 The Historical cost of listed investments on 31 December 2024 was £6,586,103 {2023.' £6,596,234}. Included within the listed investment balance aljove are no balances which represent more than 5¥0 of the total I l January 2024- no balances)- Page 35

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 19. FIXED ASSET INVESTMENTS- CURIAL (CONTINUED) Principal subsidiaries and associates The following was a subsidiary undertaking of the Dsocese.. Name Company number Principal activity Holdlng Included In consolldation Diocesan Propety Management Limited 02960826 Building contractor and propety developer 1000A Yes The financial results of the subsidiary for the year were.. Name Expendlture (Lossl for the year Net assetsl (liabilities) Diocesan Propety Management Limited 891 18911 116,470 The following was an associate of the Diocese.. Name Income for the year Expenditu for the year Profit I {Lo$sl for Ihe year Inter-Dicoesan Fuel Management Limited 31.306.224 130,690,324> $08 The Diocese holds 4.35¥• 12023.. 4.350/9) of the ordinary shares of Inter-Di¢oesan Fuel Management Limited. The principal activity of Inler-Dicoe$8n Fuel Management Limited is that of fuel and power distribution to various Roman Catholic Dioceses throughout England. Page 36

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 20. DEBTORS Curial 2024 Totsl 2024 Total 2023 Debtors in over 1 year: Amounts owed by group companies Debtors within 1 year: Trade debtors 689,147 689,147 687,425 36,455 85,305 121.524 103.896 36,4SS 85.305 121,524 103,896 59,713 115, 185 212. 153 211,861 Other debtors Other debtors- school loans Prepayments and accrued income Due within 1 year 347,180 347,180 598,912 Total 1,036,327 1,036,327 1,286,337 21. CURRENT ASSET INVESTMENTS- CURIAL 2024 2023 Listed investments 4.109.814 185,103 4,493,335 5,497 Unlisted investments 4,294,917 4,498,832 The HistQfical cost of listed investments on 31 Decembe¥ 2024 was £5,016,57212023.' £4, 603,942}. Page 37

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 22. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Parochial 2024 Curial 2024 Total 2024 Total 2023 Bank overdrafts Bank loans < 1 yr Loans < 1 yr Trade Creditors Other tsxalion and social security Other creditors 6.504,842 27,951 5,589,040 73,081 22.808 145,837 1.325,103 299,900 6,504,842 27.951 5.589.040 73,081 22,808 145,837 1,325,103 348,697 6,270.654 27,951 5,689,040 39,947 22,247 137,690 1,325, 105 348,318 Other creditors - school loans Accruals 48.797 48,797 13,988.562 14,037,3S9 13.860.952 23. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR Curial 2024 Total 2024 Total 2023 Bank loans 395,184 395,184 423, 135 395,184 395,1B4 423, 135 The bank loan is secured on property owned by the Diocese. This security is over approximately £7m of the full propety Portfolio. The interest rale is charged at 3.6Vo over LIBOR payable quarterly with the facility repayable in full al the maturity dale of March 2027. 24. PRIOR YEAR ADJUSTMENTS An adjustment has been made lo the prior year comparatives in order to reflect the value of a plot of land sold in the current year. The sale value of this land was known by the 31 D￿mber 2022 and therefore the value of the investment shoukj have been adjusted al that point. This adjustrnenl has increased the value of investment property and the revaluation reserve brought folward by £2,741,346. Page 38

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 25. STATEMENT OF FUNDS STATEMENT OF FUNDS - CURRENT YEAR As re$tstod Balance at 1 January 2024 Balance at 31 Galnsl December {Lo$sesl 2024 Transfers lfilout Income Expendlture Unrestricted funds Designaled funds St John of Beverley Designated fund John Paul Centre Designated Fund Parochial Designated funds 563.882 9,568 123,2071 550,243 305,156 6,369 114,569) 296,956 392.212 392,212 1.261,250 15.937 114.5691 123,2071 1,239N11 G¢n¢ral fund8 Unrestricted funds Parochial Unrestricted funds Curial Revaluation reserve Curial 36,386,499 4.464.980 {3,891,3491 1974,596) 1,224,804 37,210,338 8,902,962 1,845,976 12,150,238) 3,729,400 {398,2501 11,929.850 9,373.364 {2.765,0981 1,062,101 7,670,367 54.662,825 .310,956 16,041.5871 110.294) 1,888,655 56,810,555 Totsl UnT¢$tricted fund$ 55,924.075 6,326.893 {6,056,1561 133,501) 1,888,655 58,049.966 Page 39

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 25. STATEMENT OF FUNDS (CONTINUED) As restated Balance at 1 January 2024 Balance at 31 Gainsl December (Losses) 2024 Transfers inlout Income Expenditure Restricted funds Retired Priests Welfare Fund Priests. Training Fund Lacy Fund Lourdes Sick Fund Catholic Child Care Cecil H Walker Memorial Fund Mike M¢Cullagh Memorial Trust Fund Mathias Smyth Memorial Masses Fund Levy Fund (Active Priests) Common Stock Mensal Fund 1,542,502 43,907 {160,907) 15,425 1,440,927 1.684,438 365.715 52,413 {44,7081 47,255 1.692.143 412,970 206,834 74,041 188,007) 4.895 197,763 120,712 1.525 11,5831 120,654 101,301 1.013 102,314 68,143 1,029 69,172 43.167 16.9001 36,267 40.742 37,598 33,219 40.742 37.598 30,520 {3761 118,031) 378 15.000 332 Parochial Restrided funds Other Reslricled funds below £25k each 488,899 318,769 (186.8831 620,785 55,683 20,154 172,1071 {6121 3.118 4,788,953 513,183 (530,664) 33.501 4,804,973 Total of funds 60.713,028 6,840,076 16.586,8201 1.888.655 62.854.939 Page 40

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCSAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 25. STATEMENT OF FUNDS ICONTINUEDI STATEMENT OF FUNDS - PRIOR YEAR As restated Balance al l January 2023 Balance al 31 Decembei 2023 Transfers in/oul G8lnSI (Lossesj Income Expenditure Unrestricted funds Designated funds st John of Beverley Designated fund John Paul Centre Designated Fund Parochial Designated funds 587.089 (23,207) 563,882 345.313 9,843 (50,000) 305, 156 392,212 392,212 1,324,614 9,843 {50,000) (23,207) 1,261,250 Ggn9ral funds Unrestricted funds Parochial Unrestricted funds Curial Revaluation reserve Curial 36,950,622 3.920,486 (3,553,472) (730,947J (200, 190) 36,386.499 9.435,118 1.613.015 (2,022,818) 278, 125 (400,478J 8,902.962 9, f 41.936 380,431 (149,003) 9,373,364 55,527,676 5,533,501 (5,576,290) (72,391) (749.671) 54, 662,825 Total Unrestwi¢t¢d funds 56,852,290 5.543,344 (5,626.290J (95,598) (749,671) 55.924,075 Page41

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 25. STATEMENT OF FUNDS ICONTINUEDI As restated Balance al 1 January 2023 Balance at 31 Decemb&r 2023 Transfe in/oul Gains/ (Losses) Income Expenditure Restrlcted funds Retired Priests Welfare Fund Priests, Training Fund Lacy Fund Lourdes Sick Fund Catholic Child Care 1,605,640 28,763 (163,457) 71,556 1,542,5Q2 1,495,438 333,592 228,379 (39,379) 32,123 1. 684,438 365,715 244,586 66,388 (109, 140) 206.834 118,558 2,054 100 120,712 Cecil H Walker Memorial Fund Mike Mccullagh Memorial Trust Fund Mathias Smyth MemoTial Masses Fund Le￿ Fund IAclive Prieslsl Common Stock Mensal Fund Parochial Restricted funds Other Restricted funds below £25k each 100,298 1,003 701,301 67,090 1,053 68, 143 46.867 (3.700) 43. 167 40, 742 37.598 35,218 40, 742 37,598 33,219 (376) (17,351) 376 15,000 352 446,565 298, 729 (256,395? 488,899 97,688 324 (45.895J 3,566 55,683 4,669,880 627.045 (603,570) 95,598 4, 788,953 Total of funds 61,522,170 6, 170,389 (6,229.860J (T49,671) 60, 713,028 Page 42

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 25. STATEMENT OF FUNDS ICONTINUEDI Designated funds These represent funds set aside for the maintenance of buildings. Unrestricted Funds These include both Parish and Curial funds which are shown separately. The revaluation reserve refkects the difference be￿een the historic cost and current fair value on the investment properties held within Curial funds The historic cost of the Parish Investment properties is not known and therefore no revaluation reserve is provided. Restricted Funds Retired Priests Welfare Fund A fund sel up in 1996 to provide support upon retirement for incardinated Diocesan Pfiests. Priests Trainin Fund For training students for the priesthood of this Diocese. Lac Fund To meet pension requirements Df retl￿d Glergy. Lourdes Sick Fund For pilgrimages lo Lourdes. C Iholic Child Care Provides a fostering and adoption service. 11 H Walker Memorial Fun For the support of retifed priests ol the Diocese., in particular those who have spent part or all of their ministry in the Southern areas of the Diocese. Mike M¢Culla h Memorial Trust Fund Supporting junior football, prison visiting and sick children in the Tee5 Valley. Mathias Sm Memorial Masses Fund Masses for the repose of the souls of Matthias Smyth and his family. Le Fund Active Priests To provide a pension for each aclive priest on their ietiremenl. Mensal Fund Deals with the income and costs of the Bishop of Middlesbrough and his administration. Church Extension Fund To assist the new churches and Mass cenlres of the Diocese. Parochial Reslricled Funds Restricted fLtnds belong lo the indwidual parishes. Page 43

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 26. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT PERIOD Unrestricted Restrlcted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Fixed asset investments Investment property Debtors due after more than one year Current assets Creditors due within one year Creditors due in more than one year 9,966,938 5.808,089 39.438,773 689,147 16,579,592 114,037,359) {395.184) 9,966.938 5.808.059 39,438,773 689,147 4.804,973 21,384,565 114.037.359} {395.184) Total 58,049.966 4.804,973 62,854.939 ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR PERIOD As restated Unrestricted funds 2023 Restricted funds 2023 Tolal fund$ 2023 Tangible fixed assets Fixed asset investments Investment propety Debtors due after more than one year Current assets Creditors due within one year Creditors due in more than one year 10,252,905 5,995, 134 40,233,306 687,425 13,039.392 {13,860.952) (423, 135) 10.252,905 5,995, 134 40,233,306 687,425 4, 788.953 17,828.345 {13,860,952) (423, 135) Totsl 55,924, 075 4. T88.953 60.713.028 Page 44

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 27. AMOUNTS DUE TO & FROM PARISHES FROM CURIAL Amounts Amounts due to due from Parishes Parishes Totsl 7,936,392 {4,249.238) 3,687,154 (974,5961 1974,S96} 128,356 {462,3521 70.619 465.250 125,411 374,310 Balance at 1 January 2024 Parish Levy Legacy recieved Expenditure by Diocese on behalf of Parishes Transfers and repayments of loans Sale of property Rent and interest 128,356 1224,533) 1113,427) 465.250 108,741 1237,8191 184,046 16.670 374.310 Parish Levy paid 8.300,779 14.886,6271 3,414,152 Balance at 31 December 2024 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING 28. ACTIVITIES 2024 2023 Nel incomelexpenditure for the period (as per Stslement of Financial Aclivilies) 2,141,911 (809, 142) Adjustments for: Depreciation charges Gains on investments Dividends. interests and rents from investrnenls Oecreasellincrease} in debtors Increase in creditors Lossllprofitl on sale of investment propety Lossllprofitl on sale of fixed assets 184.168 184,488 11,788.554} 702.730 {2,273,805) (1.894, 713) 250,010 (18,446) 42.219 743,252 1100,101) 46.941 1253,1811 Net cash used in operallng actlvltles 11,797,333} {1,044,890) Page 45

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 29. ANALYSIS OF CASH AND CASH EQUIVALENTS 2024 2023 Cash in hand Overdraft facility repayable on demand 16,742,468 12, 730,601 6,504,842) (6,270, 654) Total cash and cash equivalents 10,237,626 6,459,947 30. ANALYSIS OF CHANGES IN NET DEBT At1 January 2024 Cash flows At31 December 2024 Cash at bank and in hand Bank overdrafts repayable on demand Debt due within 1 year Debt due after 1 year Liquid investments 12,730,601 4,011,867 16,742,468 {6.270.6541 {234,1881 16,504,842) 15.716.991) 100,000 (5,616,9911 1423,1351 27,951 {395.184) 4,498,832 1203.9151 4.294.917 4.818,653 3,701,715 8,520,368 31. PENSION COMMITMENTS The Diocese contributes 6Yo of gross salary to a group personal pension scheme for staff who elect to join. The scheme is a defined contributions scheme for which the Diocese is neither liable to finance any funding shortfall nor entitled lo benefit from any over funding. At the year end pension contibulions outstanding were £12.57912023'. £4,325). Eligible teachers and former teachers subscribe to the Teacher's Pension StheTne ITPSI supperannuation scheme which is a defined benefits scheme. The employer's contibulion is set by the TPS. The TPS represents a collective scheme as it is not possible to separalety identify the assets and liabiliites attributable to a particular employer. Hence the employer has neither a committment to make good any actuarial deficit nor an entillemenl to benefit from any over funding. Under the provisions of FRS102 the accounting Ifealmenl for the TPS scheme is as if the scheme were a defined conlribub.ons scheme. The pension charge for the year includes contributions payable lo the TPS of £58,552 and al the year end £5.12012023'. £4,325) was accrlted in respect of contributions to this scheme Ilncluded In totsl above). Page 46

DIOCESE OF MIDDLESBROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 32. RELATED PARTY TRANSACTIONS D¥Jring the year purchases of £2.001 and s81es of £181,604 were made to companies in which Directors of the Diocese of Middlesbrough Trustee are involved as either Trustee or Director. At the year end £nil 12023." £900) was included in Creditors and £nil12023'. £80} in Debtors in respect of these companies. Page 47