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