OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

Leeds Diocesan Trust Registered Charity Number 249404

Report and Consolidated Financial Statements

For the year ended 31 March 2023

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

Contents

Directors and Advisors .......................................................................................................... 1 Report of the Trustee ............................................................................................................ 2 Trustee’s Responsibilities in relation to the Financial Statements ....................................... 23 Independent Auditor’s Report to the Trustee of the Leeds Diocesan Trust .......................... 24 Consolidated Statement of Financial Activities 2023 ........................................................... 29 Consolidated Statement of Financial Activities 2022 ........................................................... 30 Consolidated Balance Sheet and Charity Balance Sheet .................................................... 31 Consolidated Cash Flow Statement .................................................................................... 32 Notes to the Financial Statements....................................................................................... 33

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

DIRECTORS AND ADVISORS

Trustee

Diocese of Leeds Trustee

(Company registration number 2886244) Registered Office: Hinsley Hall, 62 Headingley Lane, Leeds, LS6 2BX

Directors of the Trustee

Rt Rev M Stock (Bishop of Leeds) Rev Mgr P Fisher (Vicar General) Rev Mgr A Summersgill (Vicar General) Mr M Gargan Mr P Rogerson Mr P McDermott

Registered Office

Hinsley Hall, 62 Headingley Lane, Leeds, LS6 2BX

Company Secretary to the Trustee

Mr J Moran

Auditor

Saffery Champness LLP, Mitre House, North Park Road, Harrogate, HG1 5RX

Banker

HSBC Bank plc, 33 Park Row, Leeds, LS1 1LD

Investment Managers

Investec Wealth & Investment, 100 Wood Street, London, EC2V 7AN Rathbone Investment Management, 1 Curzon Street, London, W1J 5FB

Solicitors

DLA Piper UK LLP, Princes Exchange, Princes Square, Leeds, LS1 4BY Hill Dickinson LLP, No 1 St Paul’s Square, Liverpool, L3 9SJ.

1

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

REPORT OF THE TRUSTEE

The Trustee presents its Annual Report and the audited Consolidated Financial Statements of the Charity for the year ended 31 March 2023.

CONSTITUTION AND AIMS

The Charity, the Leeds Diocesan Trust (“the Diocese”), is a registered charity with the registration number 249404. The Charity was established in its current form by a Trust Deed dated 20 December 1993. The sole Trustee of the Charity is a trust corporation, the Diocese of Leeds Trustee, company registration number 2886244.

In support of the Mission of the Catholic Church, the principal objectives of the Charity are:

The Trustee confirms that it has complied with the requirements of the Charities Act 2011 Section 17 to have due regard to the public benefit guidance published by the Charity Commission including the guidance “Public benefit: running a charity (PB2)” in determining the activities undertaken by the Charity. Throughout this Annual Report the Trustee seeks to demonstrate that the Charity’s principal aims and objectives are for the public benefit.

The Diocese consists of 78 Parishes, in West Yorkshire, North Yorkshire, the East Riding of Yorkshire, Greater Manchester and Lancashire. The Diocese also has 93 Catholic Schools, Academies and Colleges. Leeds Trinity University, a Catholic Foundation University, is also located within the Diocese.

2

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

REPORT OF THE TRUSTEE (continued)

GOVERNANCE

The operation of the Charity is overseen by the Trustee. The Directors of the Trustee are appointed by the Bishop of Leeds who is Chair of the Board. There were four Trustee Board meetings during the financial year.

The Trustee Board under Canon Law is the Diocesan Finance Council.

The Bishop of Leeds and the Vicars General are ex-officio Directors of the Board. All other Directors are appointed for a term of three years which may be renewed, subject to performance and review, for an additional two terms of three years each.

Directors are recruited from senior Clergy and suitably qualified and experienced members of the wider Catholic community. On appointment, new Directors are introduced to their role and responsibilities by the Vicars General and the Company Secretary and are issued with copies of the Trust Deed and the latest financial information. Directors attend formal and informal training sessions on a regular basis.

As disclosed in Note 11 to the Financial Statements, Directors do not receive any payments in respect of their Office. No reimbursement of expenses was paid to the Directors of the Trustee in either the current or prior year.

The Trustee Board, as the Diocesan Finance Council, delegates oversight of the Diocese’s day-to-day financial, property, investment and administration matters to the Finance SubCommittee (the “FSC”). The FSC comprises four members: Rev Mgr A Summersgill (Chair and the Moderator of the Curia) and Rev Mgr P Fisher (both of whom are ex-officio Directors), Rev Mgr K Heskin and Mr T Forbes (both of whom are former Directors). The FSC members are supported and advised by the Company Secretary and Curia Officers.

The FSC meets on a monthly basis and advises the Board on property acquisitions and disposals, significant capital projects, property and overhead expenditures. On a quarterly basis, the FSC reviews the Consolidated Financial Statements and Cash Flow projections of the Diocese.

Reflecting Canon Law, this report separates the Charity’s activities between Parish and Curia.

3

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

REPORT OF THE TRUSTEE (continued)

GOVERNANCE (continued)

Parishes

The Diocese is divided into distinct Parishes. Parish Priests are appointed by the Bishop to exercise pastoral care for the Parish community, which includes representing the Parish in all juridic affairs and ensuring that the Parish is administered in accordance with the norms of Canon Law, in fulfilment of the aims of the Charity.

As encouraged by the “Directory for the Pastoral Ministry of Bishops”, the Bishop, in consultation with Priests and the Faithful, reviews the Parish structure on a regular basis to ensure long-term pastoral sustainability. The Bishop undertakes “Parish Visitations” where he personally reviews each Parish on a rolling five-year programme.

Each Parish is required by Canon Law to have a Finance Council to assist the Parish Priest in the administration of the Parish. Parish Finance Councils (often known locally as the Parish Finance Committee) include Parishioners with knowledge and experience in finance, property management and administration.

Curia

The Curia consists of Departments and Agencies to assist the Bishop in the good governance of the Diocese and to collaborate with Parishes in the Mission of the Catholic Church by fulfilling the Charity’s principal objectives. The Curia works with Parishes to ensure that statutory obligations are met and to promote best practice in safeguarding, health and safety, data protection and financial management.

The remuneration of Key Management Personnel is disclosed in Note 11 to the Financial Statements. The annual pay award is approved by the Trustee and job roles and remuneration are reviewed periodically.

4

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

REPORT OF THE TRUSTEE (continued)

GOVERNANCE (continued)

Safeguarding

The Trustee is committed to safeguarding children, young people and adults who may be at risk or vulnerable in accordance with both Civil Law and Church policies and best practice.

The Safeguarding Sub-Committee (SSC) is responsible to the Trustee to ensure that the Diocese’s safeguarding policies and procedures comply with current legislation and that it achieves best practice as stated in the Catholic Church’s National Safeguarding Procedures (these are published at https://www.catholicsafeguarding.org.uk/).

The SSC consists of:

The SSC works in collaboration with Diocesan Safeguarding Office. Following an allegation, actions undertaken by the Safeguarding Office include:

5

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

REPORT OF THE TRUSTEE (continued)

GOVERNANCE (continued)

Safeguarding (continued)

Both the SSC and the Safeguarding Office work closely with the Church’s national safeguarding body, the CSSA. The CSSA seeks to demonstrate accountability for safeguarding through a National Complaints Policy and nationally led external audit and compliance systems. The Catholic Church in England and Wales is committed to a “One Church” approach, and all Church bodies are required to adhere to 8 national standards:

  1. Embed safeguarding in the Church body’s leadership, governance, ministry and culture;

  2. Communicate the Church’s safeguarding message;

  3. Engage with and care for those who report having been harmed;

  4. Effectively manage all allegations and concerns;

  5. Manage and support subjects of allegations and concerns;

  6. Implement robust human resource management;

  7. Provide access to training and support for safeguarding; and

  8. Quality assure compliance to continually improve practice.

Following the relocation of the Safeguarding Officer to Scotland in June 2022, a new Safeguarding Officer has been appointed with effect from May 2023. During the interim period, the Trustee is grateful to the former Safeguarding Officer for the Diocese of Nottingham and to the Safeguarding Officer for the Diocese of Hallam for assuming the responsibilities of this key senior role.

Safeguarding interventions and support services continue to focus on responding to the needs of victims and/or survivors and where necessary taking prompt action to protect children, young people or adults who may be at risk. Online communication methods are well established between Parish volunteers and Curia staff.

The Safeguarding Office works closely with Parishes on the safer recruitment of any adult whose role and responsibilities include contact with children or adults who may be at risk and as part of this safer recruitment it processed 803 (2022: 664) Disclosure and Barring Service (DBS) checks in the year ended 31 March 2023.

The Safeguarding Office provides a training programme that is delivered locally to Clergy and Parish Safeguarding Representatives.

Health and Safety

The Trustee keeps under review its Health and Safety Policy and works with Health and Safety professionals to ensure that its processes and procedures follow best practice.

The day-to-day management of the Diocese’s Health and Safety Policy is undertaken by the Curia’s Property Department which includes a full-time Health and Safety professional. The Curia’s Property Department visits each Parish regularly to ensure that it meets all its Health

6

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

REPORT OF THE TRUSTEE (continued)

GOVERNANCE (continued)

Health and Safety (continued)

and Safety obligations and, in line with Bishop Marcus’ Shared Services vision, it provides practical bespoke support to Parish Priests in the management of their property portfolios.

During the year, the Diocese made significant improvements in its management of Statutory Testing requirements and Fire Risk Assessments.

Fundraising

The majority of funding is received from Parishioners principally through the weekly Offertory collection, planned giving (standing orders), special collections and fundraising activities.

Bishop Marcus and the Directors express their sincere thanks and gratitude for the continuing generosity of Parishioners when there are increasing pressures on household budgets.

The Diocese is registered with the Fundraising Regulator and adheres to its Code of Fundraising Practice. The Diocese does not employ outside agencies to raise funds. In both the current year and the prior year no complaints were received in respect of fundraising.

Data Protection

The Diocese takes seriously its legal and moral obligations for data protection. The Diocese has a dedicated Data Protection Officer (DPO) who provides guidance and support on data protection to Parishes, Curia Departments and agencies. Information is also available in a dedicated area of the Diocesan Intranet.

During the year ended 31 March 2023 no data breaches were reported to the Information Commissioner’s Office (ICO). The ICO considered a complaint from a prior year and did not consider it necessary to take any action against the Diocese.

Internal Financial Reporting and Planning

The Diocese’s internal Financial Reporting systems and processes provide assurances to the Trustee, Curia Senior Management, Parish Priests and Parish Finance Committees on the integrity of the financial accounting and governance procedures within Curia Departments and Parishes. Quarterly Consolidated Financial Statements are presented to the Board.

The Charity’s Risk Register is reviewed by the FSC on a quarterly basis. The Curia Finance Department works closely with individual Parishes and Curia Departments to mitigate identified risks.

The Curia Finance Department works with Parishes, to develop their local financial strategy and plans, in order that they can both meet their day-to-day operational commitments and plan for larger non-recurring costs which are typically associated with the repairs and maintenance or upgrade of their property portfolios. A key component of this work is identifying grant funding opportunities.

7

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2022

REPORT OF THE TRUSTEE (continued)

GOVERNANCE (continued)

Volunteering

Volunteers play a central role in fulfilling the Mission of the Church in the Diocese (whose roles are a public benefit as articulated in the Charity’s principal objectives). Parish volunteers are involved in all aspects of the spiritual, pastoral and social life of their Parish communities. Volunteers serve as Eucharistic Ministers and Catechists, welcomers, altar servers, musicians and cleaners. Within the wider Parish there are volunteers visiting the sick, the housebound and those on the margins of society as well as providing very practical support through operating food banks and delivering Christmas hampers. These ministries are often carried out in conjunction with other Catholic charities such as the Society of St Vincent de Paul (SVP).

Volunteers working in Curia agencies such as the Justice and Peace Commission, Caritas Leeds and St Patrick’s Mission provide a vital contribution to supporting the most disadvantaged members of society throughout the Diocese, often engaging with Government and other national agencies and forums. This public benefit work is carried out irrespective of the faith, sexual orientation or ethnic background of those in need.

Volunteers also play a significant role in the governance, financial, and property management of their Parishes. There are more than 1,000 volunteers providing over 13,000 hours of work in these areas. It is not practical to place a monetary cost on this work, an indicator based on the Living Foundation hourly rate of £10.90 per hour would suggest a value of at least £142k per annum.

Parish Safeguarding Representatives work with the Safeguarding Office to ensure that all volunteers are DBS checked to the appropriate standard for the role they are undertaking and that best safeguarding practices are an integral part of carrying out their ministries.

8

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

REPORT OF THE TRUSTEE (continued)

ACHIEVEMENTS AND PERFORMANCE

A review of the Charity’s principal charitable objectives is outlined below. The Charity delivers its principal charitable objectives through its Parishes, Schools and Agencies supported by the Diocesan Curia and the Diocese’s Pastoral Centre (which is managed through the Charity’s trading subsidiary undertaking, Hinsley Properties Limited).

1. Advancement of the Catholic Religion

The Diocese supports and encourages the promotion of the Catholic Religion at a local, national and international level.

Faith is nurtured and expressed by the Faithful within their Parishes. As well as regular Sunday and weekday Masses, Parishes offer a wide range of formal and informal opportunities for Parishioners and those new to the Church to further, and explore their own faith. Typically, this includes residential retreats, and courses such as RCIA, Alpha in a Catholic Context or the Sycamore Programme. In the year ended 31 March 2023 72 (2022: 59) adults were received into the Church.

Ethnic Chaplaincies complement the work of Parishes and enable members of ethnic communities to worship in their own language. Signed Mases take place on a monthly basis at Leeds Cathedral and Caritas Leeds is involved in dementia friendly initiatives.

Priests, Deacons and Laity are Chaplains in hospitals, hospices and prisons throughout the Diocese.

A Sunday Mass count taken in October 2022 reported an attendance of 18,392 (2022: 14,206), a fall of 26% compared to the last pre-pandemic Sunday Mass count of 24,829 in October 2019.

Leeds Cathedral was host to the relics of St Bernadette of Soubirous, the word of God Mosaic and is an established venue in the annual Light Night event organised by Leeds City Council. These liturgical, cultural, and social events are open to all members of the public enabling them to visit the Cathedral according to their own faith journeys or none.

The Church’s rich liturgical traditions are expressed publicly through the annual Civic Palm Sunday Procession, the Lord Mayor’s annual Carol Service, the Blessed Sacrament Procession in the grounds of Hinsley Hall and the Batley Torchlight Procession. The Diocese joined in prayer for significant national events: In June 2022, a special Mass to mark the Platinum Jubilee of Queen Elizabeth II and in September 2022 a Solemn Requiem Mass for Queen Elizabeth II was held at Leeds Cathedral. Post year end, in June 2023, Bishop Marcus presided at a Mass to celebrate the Coronation of King Charles III and Queen Camilla.

9

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

REPORT OF THE TRUSTEE (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

1. Advancement of the Catholic Religion (continued)

Annual Diocesan Pilgrimages represent public witness to the Faith. In October 2022, the St Wilfrid’s Way Annual Diocesan ‘Camino’ between Leeds Cathedral and Ripon became the inspiration and model for ‘Hearts in Search of God’: an online resource of new ‘green’ walking pilgrimage routes from Cathedrals to Local Shrines across all the Catholic Dioceses of England and Wales.

Parishes are engaged in local initiatives with other charitable organisations whose objectives are compatible with the Charity, many Parishes have CAFOD, SVP and Justice and Peace groups. Financial support to these organisations is provided through local second collections and Parish fundraising events and activities.

Parishes Centres are used by wider members of the communities in which they are based, acting as venue for youth group and other community organisations. Parishes either organise or work with other charities in running food banks, lunch clubs and other wellbeing groups.

Caritas Leeds is a Diocesan umbrella organisation that collegiately co-ordinates the activities of Catholic charities and agencies to put Catholic Social Teaching into practice. It implements this objective through the following forums:

Caritas Leeds, working with Parishes and Curia Departments, is committed to supporting refugees. One former presbytery is now home to a Ukrainian refugee family through the government Homes for Ukraine scheme, and a second former presbytery is now used by St Monica’s Housing, a small charity in Leeds which provides temporary accommodation for destitute asylum seekers.

St Patrick’s Mission is a centre for Catholic renewal based in the City of Bradford. This is a collaboration between the Diocese and the Franciscan Friars of the Renewal that creates a culture of Catholic spiritual renewal and missionary outreach in Bradford’s city centre. It provides concrete works of Christian charity to the poor and destitute through the operation of a soup kitchen and clothing bank, as well as providing opportunities to evangelise to those who visit, work, and shop in Bradford’s city centre (www.facebook.com/StPioFriary/).

10

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

REPORT OF THE TRUSTEE (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

1. Advancement of the Catholic Religion (continued)

Parish Second Collections are disclosed as a Restricted Fund in Note 20(b) to the Financial Statements. In the year ended 31 March 2023 436k (2022: £336k) was received to support the work of the Church:

Parishes also support the Church’s International Outreach work in countries such as Ethiopia, India, Kenya, Pakistan and Zimbabwe.

2. Promotion of Catholic Teaching

The Diocese covers all eight local authorities of West Yorkshire, parts of North Yorkshire, the East Riding of Yorkshire and Lancashire and has 93 Catholic designated Educational Establishments consisting of 79 Primary Schools, 12 High Schools, a Sixth Form College, and a non-maintained residential Special School (St John’s Catholic School for the Deaf, a registered charity for which the Trustee is also the Trustee). The Diocese has close partnerships with Leeds Trinity University.

There are five Catholic Multi-Academy Trusts (CMATs) in the Diocese two of which recently celebrated the 10[th] anniversary of their formation. Each CMAT has an established central team to support schools in school improvement, finance, HR, estates management and governance. Diocesan forums have been established to enable CMATs to support each other and share best practice.

The Bishop’s Vision for Education within the Diocese of Leeds has been further realised with all five CMATs being in sustainable and strong positions. Leaders, governors and directors are articulating the benefits of solidarity through effective partnerships and collaboration, working in a more strategic, structured, resilient and accountable way.

At 31 March 2023, 82 per cent of Diocesan Schools had converted from Voluntary-Aided Schools to Academy Status and a member of a CMAT and 88 per cent of all Diocesan Schools are expected to have converted to Academy Status by 31 March 2024.

11

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

REPORT OF THE TRUSTEE (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

2. Promotion of Catholic Teaching (continued)

Vicariate for Education

The Vicariate for Education is proactive in its collaboration with national and regional statutory bodies including Department for Education, Ofsted, the Regional Director and Local Authorities to promote the highest educational standards throughout our Diocesan Schools.

The Episcopal Vicar for Education recognises the commitment and dedication of our volunteers who support the work of the schools and colleges as Trust Directors and School Governors whose contribution is essential in ensuring that the Mission of proclaiming the Gospel is fulfilled in our Schools. He also recognises the huge and valued commitment of the staff across our educational establishments who continue to give generously in their vocation to our School and Trust communities.

The Vicariate for Education, supported by the national Catholic Education Service, works closely with Schools and Trusts in ensuring that a Catholic ethos runs throughout the character of our Schools and in the provision of a Religious Education (RE) syllabus. During the year the new National Catholic School Inspection Framework was implemented, this will bring further rigour and consistency into Section 48 Inspections throughout all Catholic Dioceses of England and Wales.

The new Religious Education Directory entitled “ To Know You More Clearly” has been agreed nationally and will be fully implemented in schools by September 2025. Training and development for this Directory for Vicariate staff and subsequently RE and school leaders will be implemented in the coming year.

The Vicariate works with RE Today (a Christian based educational charity) to provide a Continuing Professional Development (CPD) programme for RE teachers in Primary Schools. Training days are supplemented by relevant and effective resource packs with regular opportunities for networking and sharing resources to enable them to develop best practice.

The Youth Team complements the work of our Schools with a programme of well-established events and collaborations throughout the year. ‘The Twelve’ is the Bishop’s Youth Leadership Team. The Twelve, with Caritas Leeds and Leeds Citizens, work on their social action and communication projects.

At a national level, the Youth Team works with the Catholic Youth Ministry Federation (CYMFed). Nearly 200 young people from across the Diocese attended the Flame congress at Wembley Arena in March 2023 and 30 young people from the Diocese are expected to attend the World Youth Day in Lisbon in August 2023.

During the year 46 young people received in Faith in Action awards.

12

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

REPORT OF THE TRUSTEE (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

2. Promotion of Catholic Teaching (continued)

In July 2022 an inaugural summer camp took place at Savio House. The camp focussed upon the Narnian virtues and also gave opportunities for young adults to volunteer as part of the leadership team. The Vicariate for Education produce resources for families and adult Catechists, to deliver catechesis and outreach. Online resources continue to be developed, a new resource for the Rite of Christian Initiation of Adults (RCIA) programme is anticipated, to be launched early 2024.

The Bishop’s Certificate in Catechesis level 1 is now well established, with Catechists now being able to progress to level 2. Three Parishioners were awarded the Loyola Certificate for Parish Ministry. Bishop Marcus commends the Parish Catechists for their dedication to their ministry.

A series of talks “ Life Transfigured: Catholic Faith and the Arts ” took place during 2023. Over a series of evenings at both Hinsley Hall and Wheeler Hall, guest speakers explored how faith and the arts interact through talks and workshops.

Diocese of Leeds Music

The Diocesan Music Department complements the work of the Vicariate for Education in our Catholic Schools and CMATs through its Schools Singing Programme (SSP) and its Keyboard Studies Programme (KSP). Both programmes focus on bringing the sacred scriptures and the Christian faith alive in the hearts of the children and young people who participate and also in those of their families, communities and all who hear and see them.

The Department’s strategic impact is measured in terms of evangelisation and inclusion, focussing on the participation of young people in parish life and whole-school acts of worship. Children participate in a variety of liturgical celebrations, concerts, public broadcasts and musical festivals. The Department works with Diocesan Communications, contributing to the Catholic voice with regular articles in the national press, including The Times. During 2022, Leeds Cathedral Choirs and Bradford Catholic Youth Choir were the subject of 4 national BBC television and radio broadcasts, including a BBC Radio 4 Sunday Worship, in partnership with Bradford’s Blessed Christopher Wharton CMAT.

Many of the Schools within the Diocese are found within communities which rank amongst the most deprived 10% nationally (Index of Multiple Deprivation (IMD) 2019). Diocese of Leeds Music strives to ensure that the Church’s patronage of the arts is available to foster catechesis, individual aspiration and collective flourishing for all.

Schools Singing Programme

The Schools Singing Programme (SSP) exists as a funding collaboration between our schools, Parishes and the Music Department. Established in 2003, this programme now delivers training in liturgical music to almost 6,500 children each week in 70 schools comprising 64 primary schools, 5 secondary schools and Notre Dame Sixth Form College. A generous grant from the

13

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

REPORT OF THE TRUSTEE (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

2. Promotion of Catholic Teaching (continued)

Hamish Ogston Foundation (HOF) has enabled significant expansion in recent years, with an additional full-time member of staff joining the Department in September 2022 and 2 more due to join in 2023.

Alongside weekly whole-class singing sessions during the school day, the SSP runs 19 afterschool choirs, including boys’ and girls’ choirs in Bingley, Bradford, Harrogate, Huddersfield, Keighley, Pontefract, Ripon and Wakefield, together with the seven choirs of Leeds Cathedral. The choirs sing at Masses and other liturgies at Leeds Cathedral (8 sung liturgies of Mass and Vespers each week); St Patrick’s, Huddersfield; St Joseph’s, Bradford; and in other Parishes across the Diocese.

A Partnership with Gabrieli Consort and a collaboration with “The Sixteen”, a renowned choral ensemble, provide opportunities to children from diverse backgrounds to sing in public concerts and offers role models for careers in the arts. The Music Department also hosted groups from Vanderbilt University and the University of Texas at El Paso who came to study and work with the SSP.

Keyboard Studies Programme

The Keyboard Studies Programme (KSP) has continued to grow. It now enables around 1,200 children to learn to read music whilst playing the melodica (a low-cost, durable and portable instrument). This provides a pathway to begin lessons on related keyboard instruments; classical accordion, piano and organ. The ongoing bursary support from the Liz and Terry Bramall Foundation ensures that children, irrespective of their own resources, are able to participate in all stages of the KSP. The Director of the KSP, is also Head of Organ Studies at the University of Huddersfield and Organist of Huddersfield Town Hall.

The fifth Leeds International Organ Festival included composer Roxanna Panufnik and recitalists Sara Musumeci, Stefan Donner and Djordje Gajic to complement Department staff and the Cathedral’s Organ Scholars.

National Schools Singing Programme

The National Schools Singing Programme (NSSP) (nssp.org.uk), founded and supported by the HOF, continues to develop. This initiative offers seed funding to dioceses throughout the United Kingdom to create their own Singing Programmes modelled on the Diocese of Leeds SSP. Senior members of the Music Department staff work with 26 Catholic Dioceses and Stonyhurst College. In November 2022, the HOF agreed to provide additional seed funding for a pilot to be run in six Anglican Cathedrals.

14

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

REPORT OF THE TRUSTEE (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

2. Promotion of Catholic Teaching (continued)

Crucial to the long-term success of the NSSP will be increasing the number of skilled Choral Directors available to deliver whole-class singing sessions and run after-school choirs. The HOF has committed to supporting the development of a national apprenticeship standard to widen the talent pipeline and increase the socio-economic diversity of the music sector.

3. Provision and Care of Priests

Central to Parish life is the relationship between the Parish Priest, Assistant Priest and Parishioners. The welfare of Priests is defined in Canon Law. Parishes are responsible for the support of their own Priests. During the year, Parishes paid £657k (2022: £615k) in allowances and offerings, £332k (2022: £302k) in housekeeping costs and £123k (2022: £114k) in travel expenses to Priests.

Key to sustaining the advancement of the Catholic Religion is the promotion and support of vocations to the Priesthood and the Permanent Diaconate.

The Vocations Director engages with men and women discerning vocations to the Priesthood, Religious and Consecrated Life. This is achieved through individual accompaniment, discernment groups and through both the University Chaplaincies and the High Schools in the Diocese. Throughout the year, a monthly hour of adoration took place on the last Wednesday of the month at Hinsley Hall. A similar initiative is now continuing and moving around different deaneries.

The Diocese has four (2022: six) men training for the Priesthood. In the year ended 31 March 2023, the Second Collection for the Priests’ Training Fund provided £18k (2022: £15k) towards seminary fees and living allowances of.£115k (2022: £122k).

To support Priests in their ministry, the Directors of Ongoing Spiritual and Pastoral Formation provide a programme of reflection and study consisting of residential and day events and an Annual Presbyteral Conference at Hinsley Hall. The residential conference is important to help nurture fraternal links within the Presbyterate.

A Mentoring Programme for newly ordained Priests provides a consistent approach to a junior Priest’s ongoing pastoral development. Priests with greater experience (mentors) are matched with those more recently ordained (mentees).

The work of the Bishop and Priests is supported by men ordained to the Permanent Diaconate. The Diocese currently has 23 Permanent Deacons (2022: 22), (three of whom serve in other Dioceses). There are six candidates in formation. Permanent Deacons are ordained for a ministry of service to the Church through their involvement in the liturgy, teaching and works of charity. The Bishop allocates Permanent Deacons to parishes and deaneries and they may also have specific pastoral responsibilities such as chaplaincy, governance and administrative activities. In the allocation of responsibilities, the Permanent Deacon’s family and career responsibilities are given careful consideration.

15

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

REPORT OF THE TRUSTEE (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

3. Provision and Care of Priests (continued)

The formation of Permanent Deacons takes place in collaboration with the Dioceses of the Northern Province, through the Northern Diaconal Formation Partnership. Permanent Deacons are invited to attend local Deanery Clergy meetings and Diocesan Clergy spiritual and practical on-going formation events. Several Diocesan Deacons participated in the National Deacons conference, held this year at Liverpool Hope University. The Directorship of the Permanent Diaconate is being enhanced to develop the specific on-going formation and pastoral care for Permanent Deacons in both active ministry and those retired from active ministry.

The Diocese supports Priests who have retired from active ministry by providing appropriate living accommodation and an allowance to supplement their statutory pensions. Retired Priests receive welfare and other practical support through Catholic Care. This is a bespoke service, tailored to meet the changing needs of each Priest.

In the year ended 31 March 2023, income of £18k (2022: £11k) was received from the Parish Second Collection for the Retired Clergy Fund and £131k (2022: £121k) was received in dividend income (from the Retired Clergy Investment Fund) to support grant payments of £286k (2022: £295k) to retired Clergy.

16

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

REPORT OF THE TRUSTEE (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

4. Maintenance of Property

Churches and associated Parish buildings play a central role in facilitating parish life. A Church is often a significant landmark and a social hub in its wider community. Over 90 per cent of the buildings owned by Parishes are more than 50 years old. Collectively, Parishes spent £1,935k (2022: £1,661k) on refurbishments, maintenance and repairs to churches, presbyteries and parish halls during the year. This level of investment equates to 24 per cent (2022: 19 per cent) of Total Parish Operating Expenditure and reflects the importance that the Diocese attaches to maintaining its Sacred Places.

During the year, capital expenditure of £796k (2022: £514k) was invested in Churches, principally at St Edward King and Confessor, Clifford; Our Lady and St Joseph of the Aire Valley, Cottingley; St Jeanne Jugan, Leeds; St Cuthbert’s, Bradford and St Joseph’s, Pontefract.

The Property Department works with the Historic Churches Committee (HCC) (a statutory body established under the Ecclesiastical Exemption (Listed Buildings and Conservation Areas) (England) Order 2010) to oversee and approve all building works on Listed Places of Worship. The Property Department also works with the Diocesan Art, Architecture and Heritage (AAH) Committee which considers all applications to undertake building works on churches in the Diocese. Members of the Committees are drawn from the Clergy, Lay Professionals, Local Authority Planning Departments and the Amenity Societies. The Property Administrator acts as Secretary to these Committees.

Parish volunteers, supported by Curia Property, Finance and Communications Departments have been instrumental in supporting local fundraising and securing grant funding for various property projects. Grants awarded in the year ended 31 March 2023 include £180k from the Albert Gubay Charitable Foundation towards major projects in 4 Parishes, £80k from the National Lottery Community Fund for Community Facilities in 8 Parishes, £47k from the Benefact Trust for 12 Parish projects and £19k from the Yorkshire Historic Churches for building repairs in 4 Parishes.

The Curia also makes appropriate applications, on behalf of Parishes, to the Listed Places of Worship (LPW) Grant Scheme. This Scheme provides grants to cover the VAT incurred in making repairs to listed buildings in use as places of worship.

In its collaboration with Parishes and Schools, the Curia is supported by a dedicated team of external property professionals, including experienced Architects and Chartered Surveyors. This support ensures that refurbishments, maintenance, and repairs take full account of all statutory building and health and safety regulations, the historic architecture of the buildings and the accessibility needs of Parishioners and Pupils with disabilities.

17

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

REPORT OF THE TRUSTEE (continued)

SUSTAINABILITY AND NET CARBON ZERO

In March 2023 the Trustee issued a Statement of Intent to develop a realistic and achievable Net Carbon Zero target for the Diocese. It will seek to set this target by:

Bishop Marcus commented:

“We must strive for realistic, achievable, incremental goals which are specific to the needs and context of the local environment as well as respectful of the worldwide environment.”

18

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

REPORT OF THE TRUSTEE (continued)

FINANCIAL REVIEW

The table below summarises the financial activities of the Parishes and Curia during the year ended 31 March 2023.

Parishes
Income
Expenditure
Diocesan Assessment		 2023
£'000
7,624
(7,428)
196
(728)		 2022
£'000
8,699
(5,998)
2,701
(1,153)
Transfers (171) 25
(Deficit)/Surplus
Net Gains/(Losses) on the Sale and
Revaluation of Assets
Increase in Reserves
Curia
Income
Diocesan Assessment		 (703)

870
167
4,438
728
1,573
(439)
1,134
3,653
1,153
Transfers 171 (25)
Expenditure
Deficit
Net (Losses)/Gains on the Sale and
Revaluation of Assets
(Decrease)/Increase in Reserves
Total Group (Decrease)/Increase in Reserves		 (5,345)
(8)
(1,198)
(1,206)
(1,039)		 (5,896)
(1,115)
1,282
167
1,301

Details of the income and expenditure are disclosed in the Consolidated Statements of Financial Activities on pages 29 and 30.

19

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

REPORT OF THE TRUSTEE (continued)

FINANCIAL REVIEW (continued)

The Diocese continues to comply with current statutory requirements and its governing documents.

The total income for the Diocese in the year was £12,062k (2022: £12,352k) a decrease of 2 per cent (2022: an increase of 46 per cent). The largest individual component of income is from Offertories amounting to £4,032k (2022: £3,781k), an increase of 7 per cent (2022: an increase of 17 per cent) compared with the prior year. Income from Donations, Gifts and Legacies, which is less predictable, was £1,817k lower (2022: £1,779k higher) than the prior year.

The total expenditure in the year was £12,773k (2022: £11,894k) an increase of £879k compared with the prior year, this includes a £702k increase in gas and electricity expenditure. The Total Cost of Raising Funds is analysed in Note 5 to the Financial Statements and Charitable Expenditure is analysed in Note 6 to the Financial Statements. Expenditure continues to be tightly managed and remains focused on delivering the Diocese’s charitable objectives.

The operational deficit in the year was £711k (2022: Surplus £458k) and Net Resources decreased in the year by £1,039k (2022: an increase of £1,301k).

As disclosed in Note 1 to the Financial Statements (Accounting Policies 1.12), occupied school properties are valued at £Nil (2022: £Nil) as the Directors consider these properties to be inalienable.

At 31 March 2023, the Diocese reported a net cash position of £2,958k (2022: £3,596k). The Cash Flow Statement on page 32 reports a net decrease in cash and cash equivalents of £638k (2022:increase of £1,519k), a net cash inflow from Operating Activities of £185k (2022: outflow £132k) and a net cash outflow from Investing Activities £823k (2022: inflow £1,651k). As disclosed in Note 17 to the Financial Statements £4,051k (2022: £3,988k) of cash balances are held in respect of the School Building Programme.

Investment Policy and Performance

The Trust Deed authorises the Trustee to make and hold investments using the general funds of the Diocese. The Diocese’s funds are managed in one general fund (Main Fund) and four specific funds (Priests’ Retirement Fund, Batley Carr Cockrem Fund, Episcopal Mensa Fund and Music Fund). The Diocese operates an ethical investment policy and has agreed an investment strategy with its Investment Managers. The Investment Managers oversee the funds and their portfolio of investments on a discretionary basis within these guidelines. The Investment Managers provide quarterly reports and meet with the FSC annually to review fund performance and to consider the investment outlook.

The market value of investments reported in the Financial Statements at 31 March 2023 was £14,024k (2022: £15,047k). The movements are analysed in Note 15 to the Financial Statements. The main components comprise investment income generated of £333k (2022:

20

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

REPORT OF THE TRUSTEE (continued)

FINANCIAL REVIEW (continued)

Investment Policy and Performance (continued)

£318k), cash withdrawn of £Nil (2022: £181k) and profits arising on the sale of investments of £259k (2022: £78k). The unrealised loss on revaluation of £1,539k (2022: gain £350k) reflects the markets continuing volatility due the Russian invasion of Ukraine and the associated global supply and inflationary pressures. No capital drawdowns were made in the year ended 31 March 2023 which helped prevent losses being realised on the investment portfolios. Working with Investment Managers and using cash forecasts, drawdowns will be managed to mitigate exposure to short term market fluctuations. At the date of signing this report the Market Value of investments has been maintained compared with 31 March 2023.

The Diocese holds a portfolio of investment properties that are held either for a long-term rental income stream or are no longer required for meeting its principal charitable objectives and are, therefore, planned for long-term sale.

Reserves Policy

The Total Funds of the Diocese at 31 March 2023 were £57,039k (2022: £58,078k) of which £39,451k (2022: £39,284k) related to Parishes and £17,588k (2022: £18,794k) relates to the Curia and the subsidiary undertaking.

The Reserves Policy of the Diocese is to hold a value equivalent to at least three months of Total Operating Expenditure which is equivalent to £3,193k for the year ended 31 March 2023 (2022: £2,974k) as Free Reserves. Free Reserves are defined as Unrestricted Funds (including Parish Designated Funds) less Tangible Fixed Assets. Funds invested in Tangible Fixed Assets are excluded from Free Reserves as these funds cannot be released without undermining the Diocese’s ability to fulfil its principal charitable objectives. At 31 March 2023, Free Reserves were £16,913k (2022: £18,410k) and represented sixteen months (2022: eighteen months) of Total Operating Expenditure. The Directors consider that this level of Free Reserves is reasonable, especially at the present time, to enable the Diocese to fulfil its immediate financial obligations and commitments and to plan for future investment requirements. This includes the training of Seminarians, Priests and Permanent Deacons, the welfare needs of retired Priests and the maintenance of the Diocese’s Places of Worship.

Total Funds included £1,025k (2022: £1,023k) in Permanent Endowment Funds and £8,451k (2022: £8,586k) in Restricted Funds. The allocation of Permanent Endowment Funds and Restricted Funds is determined by the wishes of the donors and is disclosed in Note 20 (b) to the Financial Statements. Unrestricted Funds of £47,563k (2022: £48,469k) comprise Designated Funds in Parishes of £38,215k (2022: £38,480k) and General Funds in the Curia of £9,348k (2022: £9,989k). Designated Funds in Parishes ensure the financial sustainability of each Parish and will be expended over the life of that Parish.

21

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

REPORT OF THE TRUSTEE (continued)

FINANCIAL REVIEW (continued)

Subsidiary Trading Company

The Diocese holds an investment in a wholly owned trading subsidiary, Hinsley Properties Limited. The Directors of this subsidiary company are appointed from the Directors and Officers of the Trustee. Hinsley Properties Limited was formed to manage the Diocesan Pastoral Centre at Hinsley Hall and an investment property, Cathedral Chambers. The Diocesan Pastoral Centre is also used by the wider national Catholic community. As disclosed in Note 15(b) to the Financial Statements, during the year the company generated a turnover of £911k (2022: £614k) and reported an operating loss of £304k (2022: loss £252k). The retained loss for the year of £304k (2022: £252k) has been taken to the consolidated unrestricted reserves.

Risk Management

The Trustee considers and assesses the major risks to which the Diocese is exposed by a quarterly review of its Risk Register. This includes strategic, financial, operational, and reputational risks. The Trustee implements policies and procedures in order to mitigate or minimise these risks and monitors the effectiveness of its risk management processes.

Financial Strategy

The current Financial Strategy provides the Charity with the financial flexibility it requires to deliver its charitable objectives. The Strategy’s working capital enables Parishes, Curia Departments and Diocesan agencies to operate efficiently. The Strategy includes the efficient management of the Charity’s financial assets by maximising the income and capital growth of these financial assets in line with the Charity’s ethical investment policy and minimising interest costs through the management of its cash position.

The Directors carried out an eighteen-month cash flow forecast which included Stress Testing the cash income of the Charity. The Directors are satisfied that the Charity has sufficient flexibility within its financial assets and its existing bank facilities to enable it to continue to deliver its charitable objectives.

Approved by the Trustee on 27 June 2023 and signed on its behalf by:

Rt Rev M Stock

Bishop of Leeds Director

22

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

TRUSTEE’S RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The Directors of the Trustee are responsible for preparing the Trustee’s Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted 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 state of the affairs of the Charity and the Group, and of its incoming resources and application of resources of the charity for that period. In preparing these Financial Statements, the Trustee is required to:

The Trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable it to ensure that the Financial Statements comply with the Charities Act 2011 and applicable accounting regulations. It is also responsible for safeguarding the assets of the Charity and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustee is responsible for the maintenance and integrity of the Charity and financial information included on the Charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

23

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEE OF THE LEEDS DIOCESAN TRUST

Opinion

We have audited the financial statements of the Leeds Diocesan Trust (the ‘parent charity’) and its subsidiaries (the ‘group’) for the year ended 31 March 2023 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charity Balance Sheets, the Consolidated Cash Flow Statement and Notes to the Financial Statements including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the Financial Statements:

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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 concern basis of accounting 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 doubt on the group or the parent charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustee with respect to going concern are described in the relevant sections of this report.

24

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

INDEPENDENT AUDITOR’S REPORT

TO THE TRUSTEE OF THE LEEDS DIOCESAN TRUST (continued)

Other Information

The Trustee is responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement 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 to 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 in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of the Trustee

As explained more fully in the Trustee’s Responsibilities Statement set out on page 23, the Trustee is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustee determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustee is responsible for assessing the group and the parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustee either intends to liquidate the group or the parent charity or to cease operations, or has no realistic alternative but to do so.

25

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

INDEPENDENT AUDITOR’S REPORT

TO THE TRUSTEE OF THE LEEDS DIOCESAN TRUST (continued)

Auditor’s responsibilities for the Audit of the Financial Statements

We have been appointed as auditors under the Charities Act 2011 and report in accordance with regulations made under that Act.

Our objectives are to obtain reasonable assurance about whether the group and parent financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the group and parent charity’s financial statements to material misstatement and how fraud might occur, including through discussions with the Trustee, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the group and parent charity by discussions with the Trustee and updating our understanding of the sector in which the group and parent charity operate.

Laws and regulations of direct significance in the context of the group and parent charity include the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and guidance issued by the Charity Commission for England and Wales.

Audit response to risks identified:

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the parent charity’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the parent charity’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

26

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

INDEPENDENT AUDITOR’S REPORT

TO THE TRUSTEE OF THE LEEDS DIOCESAN TRUST (continued)

Auditor’s responsibilities for the Audit of the Financial Statements (continued)

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify noncompliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement 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 intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities.

This description forms part of our auditor’s report.

27

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

INDEPENDENT AUDITOR’S REPORT

TO THE TRUSTEE OF THE LEEDS DIOCESAN TRUST (continued)

Use of our report

This report is made solely to the parent charity’s Trustee, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the parent charity Trustee those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent charity and the parent charity’s Trustee as a body, for our audit work, for this report, or for the opinions we have formed.

Saffery Champness LLP Chartered Accountants and Statutory Auditors Mitre House North Park Road Harrogate HG1 5RX

28 June 2023

Saffery Champness LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

28

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES 2023

Note
Income and Endowments from:
Donations, Legacies and Grants
2
Charitable Activities
3
Trading Activities
Investment Income
4
Other Income
Total Operating Income
Expenditure on:
Total Cost of Raising Funds
5
Charitable Expenditure
6
Total Operating Expenditure		 Designated
Funds
Restricted
Funds
Total
Funds
£'000
£'000
£'000
5,439
1,203
6,642
76
-
76
898
-
898
-
8
8
-
-
-
6,413
1,211
7,624
-
-
-
6,846
582
7,428
6,846
582
7,428
(433)
629
196
Parishes		 Unrestricted
Funds
Restricted
Funds
Permanent
Endowment
Funds
Total
Funds
£'000
£'000
£'000
£'000
199
1,125
2
1,326
837
-
-
837
980
-
-
980
529
137
29
695
600
-
-
600
3,145
1,262
31
4,438
1,246
-
-
1,246
2,625
1,445
29
4,099
3,871
1,445
29
5,345
(726)
(183)
2
(907)
Curia and Subsidiary		 Group
Total
Funds
£'000
7,968
913
1,878
703
600
12,062
1,246
11,527
12,773
(711)
Gross Transfer between Funds (728)
(171)
(899)		 932
(33)
-
899		 -
Net Operating (Expenditure)/Income
Net Losses on Investment Assets
Net Gains on the Sale of Investment Properties
Net (Expenditure)/Income
Revaluation of Investment Properties
Net Movement in Funds
12
Reconciliation of Funds:
Total Funds brought forward
Total Funds carried forward		 (1,161)
458
(703)
-
(26)
(26)
428
-
428
(733)
432
(301)
468
-
468
(265)
432
167
38,480
804 39,284
38,215
1,236 39,451		 206
(216)
2
(8)
(903)
(351)
-
(1,254)
-
-
-
-
(697)
(567)
2
(1,262)
56
-
-
56
(641)
(567)
2
(1,206)
9,989
7,782
1,023
18,794
9,348
7,215
1,025
17,588
(711)
(1,280)
428
(1,563)
524
(1,039)
58,078
57,039

All activities are from continuing operations. The Notes from page 33 to 59 form part of these Financial Statements. There were no recognised gains or losses for the year ended 31 March 2023 other than those included in the Consolidated Statement of Financial Activities. The results of Hinsley Properties Limited are included in Curia Unrestricted Funds.

29

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES 2022

Note
Income and Endowments from:
Donations, Legacies and Grants
2
Charitable Activities
3
Trading Activities
Investment Income
4
Other Income
Total Operating Income
Expenditure on:
Total Cost of Raising Funds
5
Charitable Expenditure
6
Charitable Expenditure - Asset Impairment
7
Total Operating Expenditure		 Designated
Funds
Restricted
Funds
Total
Funds
£'000
£'000
£'000
6,748
1,234
7,982
72
-
72
637
-
637
-
8
8
-
-
-
7,457
1,242
8,699
-
-
-
4,726
1,272
5,998
-
-
-
4,726
1,272
5,998
2,731
(30)
2,701
Parishes		 Unrestricted
Funds
Restricted
Funds
Permanent
Endowment
Funds
Total
Funds
£'000
£'000
£'000
£'000
229
1,255
6
1,490
767
-
-
767
646
-
-
646
419
127
28
574
176
-
-
176
2,237
1,382
34
3,653
986
-
-
986
2,593
1,565
34
4,192
718
-
-
718
4,297
1,565
34
5,896
(2,060)
(183)
-
(2,243)
Curia and Subsidiary		 Group
Total
Funds
£'000
9,472
839
1,283
582
176
12,352
986
10,190
718
11,894
458
Gross Transfer between Funds (1,153)
25
(1,128)		 1,153
(25)
-
1,128		 -
Net Operating Income/(Expenditure)
Net Gains on Investment Assets
Net Gains on the Sale of Investment Properties
Net Income/(Expenditure)
(Impairment)/Revaluation of Investment Properties
Net Movement in Funds
12
Reconciliation of Funds:
Total Funds brought forward
Total Funds carried forward		 1,578
(5)
1,573
10
7
17
50
-
50
1,638
2
1,640
(506)
-
(506)
1,132
2
1,134
37,348
802
38,150
38,480
804
39,284		 (907)
(208)
-
(1,115)
272
146
-
418
21
-
-
21
(614)
(62)
-
(676)
843
-
-
843
229
(62)
-
167
9,760
7,844
1,023
18,627
9,989
7,782
1,023
18,794
458
435
71
964
337
1,301
56,777
58,078

All activities are from continuing operations. The Notes from page 33 to 59 form part of these Financial Statements. There were no recognised gains or losses for the year ended 31 March 2022 other than those included in the Consolidated Statement of Financial Activities. The results of Hinsley Properties Limited are included in Curia Unrestricted Funds.

30

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

CONSOLIDATED BALANCE SHEET AND CHARITY BALANCE SHEET

Note
Fixed Assets		 2023
2022
£'000
£'000
Group		 Charity
2023
2022
£'000
£'000
Tangible Assets
13
Investment Properties
14
Investments
15
Total Fixed Assets
Current Assets
Inventories
Debtors
16
Cash at Bank and in Hand
Total Current Assets
Current Liabilities
Creditors and Accrued Expenses
17
Creditors: Amounts falling due within one year		 30,650
30,059
12,474
11,615
14,024
15,047
57,148
56,721
8
8
1,604
2,737
2,958
3,596
4,570
6,341
(4,679)
(4,984)
(4,679)
(4,984)		 29,415
28,779
11,274
10,415
15,884
17,210
56,573
56,404
-
-
2,123
3,020
2,930
3,556
5,053
6,576
(4,587)
(4,902)
(4,587)
(4,902)
Net Current (Liabilities)/Assets (109)
1,357		 466
1,674
Total Assets less Current (Liabilities)/Assets 57,039
58,078		 57,039
58,078
Total Net Assets 57,039
58,078		 57,039
58,078
The Funds of the Charity:
Unrestricted Funds
- Designated Funds
20
- General Funds
20
Restricted Funds
20
Permanent Endowments
20		 38,215
38,480
9,348
9,989
8,451
8,586
1,025
1,023		 38,215
38,480
9,348
9,989
8,451
8,586
1,025
1,023
Total Charity Funds 57,039
58,078		 57,039
58,078

The Notes from page 33 to 59 form part of these Financial Statements.

These Financial Statements were approved and authorised by the Directors on 27 June 2023 and signed on their behalf by:

Rt Rev M Stock Bishop of Leeds Director

31

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

CONSOLIDATED CASH FLOW STATEMENT

Cash Flows from Operating Activities
Net Movement in Funds
Adjusted for:
Deprecation Charges
Impairment Charges
Revaluation of Investment Properties
Gain on Disposal of Investment Properties
Net Loss/(Gains) on Investments
Investment Income
Decrease/(Increase) in Debtors
(Decrease)/Increase in Creditors
Increase in Inventories
Other non cash Expenditure
Net Cash provided by/(used in) Operating Activities
Cash Flows from Investing Activities
Proceeds from the Disposal of Fixed Asset Investments
Investment Properties Income
Proceeds from the Sale of Investment Properties
Payments to Acquire Tangible Fixed Assets
Net Cash (used in)/provided by Investing Activities
Net (Decrease)/Increase in Cash and Cash Equivalents
Cash and Cash Equivalents at the beginning of year
Cash and Cash Equivalents at the end of year
Analysis of Net Cash
2023 Movement
£'000
£'000
Cash at Bank and in Hand
2,958
(638)		 Cash Flows from Operating Activities
Net Movement in Funds
Adjusted for:
Deprecation Charges
Impairment Charges
Revaluation of Investment Properties
Gain on Disposal of Investment Properties
Net Loss/(Gains) on Investments
Investment Income
Decrease/(Increase) in Debtors
(Decrease)/Increase in Creditors
Increase in Inventories
Other non cash Expenditure
Net Cash provided by/(used in) Operating Activities
Cash Flows from Investing Activities
Proceeds from the Disposal of Fixed Asset Investments
Investment Properties Income
Proceeds from the Sale of Investment Properties
Payments to Acquire Tangible Fixed Assets
Net Cash (used in)/provided by Investing Activities
Net (Decrease)/Increase in Cash and Cash Equivalents
Cash and Cash Equivalents at the beginning of year
Cash and Cash Equivalents at the end of year
Analysis of Net Cash
2023 Movement
£'000
£'000
Cash at Bank and in Hand
2,958
(638)		 2023
£'000
(1,039)
695
-
(524)
(428)
1,280
(703)
1,133
(305)
-
76
185
-
370
428
(1,621)
(823)
(638)
3,596
2,958		 2022
£'000
1,301
682
718
(337)
(71)
(435)
(582)
(1,654)
156
(4)
94
(132)
181
264
1,732
(526)
1,651
1,519
2,077
3,596
2023 Movement
£'000
£'000
2,958
(638)		 2022
Movement
2021
£'000
£'000
£'000
3,596
1,519
2,077

The Notes from page 33 to 59 form part of these Financial Statements.

32

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS

ACCOUNTING POLICIES

1.1 Basis of Accounting

These Financial Statements are prepared on a going concern basis, under the historical cost convention as modified by the revaluation of certain fixed assets and include the results of the Charity and its subsidiary’s operations which are described in the Trustee’s Report.

The Financial Statements are prepared in Sterling which is the functional currency of the entity. Monetary amounts in these Financial Statements are rounded to the nearest thousand pounds (£’000). The Financial Statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Accounting Practice. The Charity is a public benefit entity for the purposes of FRS 102.

1.2 Going Concern

The Directors have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the Charitable Group to continue as a going concern and to meet its net current liabilities. The Directors have made this assessment for a period of at least twelve months from the date of approval of the Financial Statements. In particular the Directors have considered the Group’s forecasts and projections and have taken account of pressures on offertory, donation and investment income. After making enquiries the Directors have concluded that there is a reasonable expectation that the Group has adequate resources when taking into account the headroom provided by Investments held, to continue in operational existence for the foreseeable future. The Group therefore continues to adopt the going concern basis in preparing its Financial Statements.

1.3 Basis of Consolidation

The Statement of Financial Activities, Balance Sheet and Cash Flow consolidate the Financial Statements of the Charity, comprising the Curia and the Parishes, together with a subsidiary undertaking, Hinsley Properties Limited.

1.4 Income

Income, including grants, is included in the Statement of Financial Activities on the basis of the amounts receivable for the year. Income from trading activities is included in the period that the Charity is entitled to the receipt.

33

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

ACCOUNTING POLICIES (continued)

1.4 Income (continued)

In Parishes, the majority of income is received from voluntary donations and legacies. Legacies are recognised following probate and once there is sufficient evidence that the receipt is probable and the amount of the legacy receivable can be measured reliably. Where entitlement to a legacy exists but there is uncertainty as to its receipt or the amount receivable, the details are disclosed as a contingent asset, if material, until the criteria for income recognition are met.

Curial income includes income from services carried out at the Diocesan Pastoral Centre, Hinsley Hall, and income from Investment Properties and other Investments.

Gifts of fixed assets are included at valuation and the equivalent value is recorded as donations. If a gifted asset is under construction, then its value is recorded on completion.

1.5 Expenditure

Expenditure is included in the Statement of Financial Activities on the basis of the amounts payable for goods and services provided in the year.

Charitable expenditure consists of all expenditure directly relating to the objectives of the Diocese. Certain central costs, which cannot be directly apportioned, are allocated in proportion to the direct costs of the aims of the Charity.

The Diocese does not incur direct costs in its voluntary fundraising activities. The Diocese receives substantial voluntary help in its work, and it is not possible to place a financial value on this work.

Investment management fees, interest costs and the cost of sales and administrative costs of the subsidiary company are included in the cost of raising funds.

Liabilities are recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure includes VAT where it cannot be fully recovered and is reported as part of the expenditure to which it relates.

Governance costs are those incurred in connection with the audit of the Charity and its compliance with constitutional and statutory requirements, including legal fees.

34

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

ACCOUNTING POLICIES (continued)

1.6 Commitments

Commitments that are made by the Trustee that are legally binding have been accrued. Those that are not legally binding have not been charged in the Financial Statements but have been disclosed in the Notes to the Financial Statements.

1.7 Grants Payable

Discretionary grants are paid as a contribution to the running costs of organisations whose objectives are consistent with those of the Charity. Grants are paid on an ad–hoc basis and payment in one financial year does not imply continued support in future financial years. Liabilities relating to grants payable are recognised once the Charity is irrevocably committed to the provision of the grant.

1.8 Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the Balance Sheet date using the closing quoted mid-market price. Realised and unrealised gains and losses on Investments are reported in the Statement of Financial Activities. Investment income plus any associated tax recoverable is credited to income on an accruals basis.

Investments in subsidiaries are accounted for at cost less impairment in the individual Financial Statements.

1.9 Investment Properties

Investment property, which is property held to earn rentals and capital appreciation, is measured using the fair value model as at the Balance Sheet date. The surplus or deficit on revaluation is recognised in the Statement of Financial Activities.

1.10 Taxation

The Trustee considers that the Charity is exempt from taxation and therefore no provision has been made for it. There is no taxation charge arising for the year within Hinsley Properties.

1.11 Pension Scheme

The Charity makes defined contributions to a Group personal pension scheme for certain employees. Contributions payable for the year are charged in the Statement of Financial Activities. Contributions are also paid for eligible employees, to the Teachers’ Pension Scheme (England and Wales), and further information regarding this scheme is disclosed in Note 10 to the Financial Statements. Contributions payable are charged as charitable expenditure in the Statement of Financial Activities.

35

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

ACCOUNTING POLICIES (continued)

1.12 Tangible Assets

Parish Property

The value of Parish properties are capitalised in the Financial Statements as follows:

All Parish buildings are depreciated on a straight-line basis of two per cent per annum.

Curial Freehold Buildings

A review of building valuations is carried out annually and, where required, an appropriate impairment charge is made in the Statement of Financial Activities. Curial freehold buildings are maintained to a high standard and depreciation is not provided for as, in the Trustee’s opinion, the residual value is equal to the carrying value in the Financial Statements.

Freehold Property Improvements

Improvements to freehold properties are capitalised at cost and depreciated on a straight-line basis of two per cent per annum.

Impairment reviews are undertaken on an annual basis.

Fixtures, Fittings and Equipment

Fixtures, fittings and equipment are stated at cost less depreciation. Depreciation is calculated by the straight-line method to write off the cost or value, less anticipated residual value, over the expected useful lives of the assets. Assets have an expected useful life of between three years and ten years.

Impairment reviews are undertaken on an annual basis.

School Property

Certain school properties are owned by the Diocese and are occupied and run by independent charities in the form of Voluntary Aided (maintained) schools and CMATs. There are significant legal restrictions on the disposal of these properties under education legislation. The Trustee considers the ownership of these assets to be in the nature of custodianship and they are, therefore, not capitalised in the Financial Statements.

36

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

ACCOUNTING POLICIES (continued)

1.13 Properties Held for Resale

Curia and Parish properties no longer used by the Diocese in pursuing its charitable aims, and whose sale is expected to complete within twelve months of the Balance Sheet date, are reported as Properties Held for Sale within current assets on the face of the Balance Sheet and are included at their estimated realisable value.

1.14 Schools Building Programme

The Diocese acts as agent on behalf of School Governors. Grants received, and contributions through the Voluntary Contributions Scheme (VCS), are netted off against total costs so that only the residual cost is included in the Financial Statements. As an agent, the Diocese is bound by agreement with each individual school and, therefore, has no discretion over the use of these funds. These agency funds are carried forward within cash and creditors in the Balance Sheet

1.15 Inventories

Inventories consist of purchased goods for resale and are valued at the lower of cost and net realisable value.

1.16 Fund Accounting

General Funds are Unrestricted Funds which are available for use at the discretion of the Trustee in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

The Parishes in the Diocese are established and operate under Canon Law, which gives each Parish a distinct status within the Church. Unrestricted Parish funds are reported as Designated Funds in the Financial Statements, to reflect the relative autonomy given to the Parish Priest under Canon Law.

Restricted Funds are funds that are used in accordance with specific instructions made 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 Note 20(b) to the Financial Statements.

The capital of Permanent Endowment Funds must be maintained intact with any income arising being available for restricted or general charitable purposes of the Diocese, according to the terms of the original gift.

37

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

ACCOUNTING POLICIES (continued)

1.17 Financial Instruments

Basic financial instruments are measured at amortised cost. The Group has no other financial instruments or basic financial instruments measured at fair value.

1.18 Critical Accounting Estimates

In preparing financial statements, it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in those financial statements. The following judgements and estimates are considered by the Trustee to have the most significant effect on amounts recognised in the Financial Statements.

Useful Economic Life: the annual depreciation charge for buildings, fixtures, fittings and equipment is sensitive to change in the estimated useful economic lives and residual value of assets. These are reassessed annually and are amended where necessary to reflect current circumstances.

Investment Properties are valued on the basis of market value every five years. In the intervening years a review of Investment Properties’ fair value is carried out annually and an appropriate revaluation credit or impairment charge is made in the Statement of Financial Activities.

The valuation of year end debtors includes estimates for deferred income with respect to Legacies, Grants, and Gift Aid Tax Recoverable.

38

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

2. DONATIONS, LEGACIES AND GRANTS

S, LEGACIES AND GRANTS
Offertories
Donations and Gifts
Votives		 Designated
Funds
Restricted
Funds
Total
Funds
£'000
£'000
£'000
4,015
-
4,015
168
-
168
193
-
193
Parishes		 Unrestricted
Funds
Restricted
Funds
Permanent
Endowment
Funds
Total
Funds
£'000
£'000
£'000
£'000
-
17
-
17
97
31
2
130
-
-
-
-
Curia
2023		 Group
Total
Funds
£'000
4,032
298
193
Legacies 297
-
297		 54
25
-
79		 376
Gift Aid Tax Refunds
Parish Projects
Parish Second Collections
Diocesan Second Collections
National Second Collections		 726
-
726
-
163
163
-
131
131
-
109
109
-
196
196		 48
-
-
48
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 774
163
131
109
196
Grants -
604
604		 -
1,052
-
1,052		 1,656
Other
Total
Offertories
Donations and Gifts
Votives
Legacies
Gift Aid Tax Refunds
Parish Projects
Parish Second Collections
Diocesan Second Collections
National Second Collections
Grants
Other
Total		 40
-
40
5,439
1,203
6,642
Designated
Funds
Restricted
Funds
Total
Funds
£'000
£'000
£'000
3,767
-
3,767
219
-
219
139
-
139
1,800
-
1,800
691
-
691
-
132
132
-
116
116
-
68
68
-
152
152
20
766
786
112
-
112
6,748
1,234
7,982
Parishes		 -
-
-
-
199
1,125
2
1,326
Unrestricted
Funds
Restricted
Funds
Permanent
Endowment
Funds
Total
Funds
£'000
£'000
£'000
£'000
-
14
-
14
18
87
2
107
-
-
-
-
132
233
-
365
48
4
4
56
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
31
917
-
948
-
-
-
-
229
1,255
6
1,490
Curia
2022		 40
7,968
Group
Total
Funds
£'000
3,781
326
139
2,165
747
132
116
68
152
1,734
112
9,472

39

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

3. INCOME FROM CHARITABLE ACTIVITIES

Income from charitable activities consists of:

School Contribution Scheme
Music Contribution Scheme
Youth Pilgrimages
Conference Fees
Cemetery Fees
Other
Total		 2023
£'000
278
149
19
5
320
142
913		 2022
£'000
284
134
-
8
289
124
839

4. INVESTMENT INCOME

Income arising from:
Investment Properties
Listed Investments
Total
Income arising from:
Investment Properties
Listed Investments
Total		 Unrestricted
Restricted Permanent
Total
Funds
Funds Endowment
Funds
Funds
£'000
£'000
£'000
£'000
365
5
-
370
164
140
29
333
2023
529
145
29
703
Unrestricted
Restricted
Permanent
Total
Fund
Fund Endowment
Funds
Fund
£'000
£'000
£'000
£'000
259
5
-
264
160
130
28
318
2022
419
135
28
582

5. TOTAL COST OF RAISING FUNDS

The total cost of raising funds consists of:

Investment Management Fees
Hinsley Properties Limited Expenditure
Total		 2023
£'000
82
1,164
1,246		 2022
£'000
85
901
986

40

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

6. CHARITABLE EXPENDITURE

Parishes
Grants Payable
Other Direct Costs
Support Costs
Total		 2023
Aims of the Charity
Advancement
of Catholic
Religion
Promotion of
Catholic
Teaching
Care of
Priests
Maintenance
of Properties
Total
£'000
£'000
£'000
£'000
£'000
49
-
-
-
49
1,144
47
1,541
3,718
6,450
170
7
220
532
929
1,363
54
1,761
4,250
7,428
Curia
Grants Payable		 90
283
312
-
685
Other Direct Costs
Support Costs
Total
Total
Grants Payable
Other Direct Costs
Support Costs
Total
Parishes
Grants Payable
Other Direct Costs
Support Costs
Total
Curia
Grants Payable
Other Direct Costs
Support Costs
Total
Total
Grants Payable
Other Direct Costs
Support Costs
Total		 335
1,185
380
383
2,283
162
560
263
146
1,131
587
2,028
955
529
4,099
139
283
312
-
734
1,479
1,232
1,921
4,101
8,733
332
567
483
678
2,060
1,950
2,082
2,716
4,779
11,527
Aims of the Charity
2022
Advancement of
Catholic
Religion
Promotion of
Catholic
Teaching
Care of
Priests
Maintenance
of Properties
Total
£'000
£'000
£'000
£'000
£'000
26
-
-
-
26
865
37
1,242
2,987
5,131
146
6
204
485
841
1,037
43
1,446
3,472
5,998
108
683
322
-
1,113
251
1,051
355
381
2,038
119
573
223
126
1,041
478
2,307
900
507
4,192
134
683
322
-
1,139
1,116
1,088
1,597
3,368
7,169
265
579
427
611
1,882
1,515
2,350
2,346
3,979
10,190

Support Costs have been apportioned across the four aims of the Charity by pro-rating those costs to the grants payable and other direct costs of the individual aims. Included in Support Costs are Governance Costs of £22k (2022: £22k).

41

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

7. CHARITABLE EXPENDITURE – IMPAIRMENTS

In the prior year, the asset impairment charge of £718k related to the transfer of use of two properties from a Chaplaincy to a School. Following the transfer in the use of these properties, the Directors consider the ownership of these properties to be in the nature of a custodianship.

8. ANALYSIS OF GRANTS PAYABLE

National Schools Singing Programme Participants
Catholic Trust for England and Wales
Catholic Education Service
Clergy Retirement Grants
Seminarian Grants
Peru Mission
Local Organisations		 2023
Institutions Individuals
Total
£'000
£'000
£'000
250
-
250
61
-
61
33
-
33
-
286
286
-
25
25
30
-
30
49
-
49
423
311
734
Grants to		 2022
Total
£'000
650
56
33
295
27
52
26
1,139

Grants paid to institutions are paid as a contribution to the running costs of charities with objectives similar to those of the Leeds Diocesan Trust.

Participants of the National Schools Singing Programme consist of Catholic Dioceses throughout the United Kingdom, a Catholic College and Anglican Cathedrals.

There were 38 (2022: 41) grants given for the benefit of Retired Clergy amounting to £286k (2022: £295k).

9. CLERGY COSTS

2023
2022		 Parishes
Curia
Total
£'000
£'000
£'000
748
179
927
689
149
838
Clergy Allowances

These allowances relate to Clergy in active ministry.

42

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

10. EMPLOYMENT COSTS AND NUMBERS

Staff costs comprise the following:

Staff costs comprise the following:
Salaries and Wages
Employers' National Insurance
Pension Costs
Gross Employment Costs
Coronavirus Job Retention Scheme Grant		 Parishes
Curia
Total
£'000
£'000
£'000
548
1,418
1,966
71
141
212
7
132
139
626
1,691
2,317
-
-
-
2023		 2022
Total
£'000
1,793
188
92
2,073
(101)
626
1,691
2,317		 1,972

During the year payments of £45k (2022: £63k) were paid to three employees (2022: three employees) in relation to redundancy payments.

The number of employees who received a salary in excess of £60,000 per annum was as follows:

£60,001 to £70,000
£70,001 to £80,000
£80,001 to £90,000
£90,001 to £100,000		 2023
2022
3
2
-
-
-
1
1
-
4
3

Volunteers

Central to the fulfilment of the Charity’s objectives is the role played by volunteers in ministries in the Parishes. There more than 1,000 volunteers providing over 13,000 hours of work in governance, administration and property management. It is not practical to place a monetary cost on this work, an indicator based on the Living Foundation hourly rate of £10.90 per hour would suggest a value of at least £142k per annum.

Teachers Pension Scheme (TPS)

The Teachers’ Pension Scheme (TPS) is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

43

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

10. EMPLOYMENT COSTS AND NUMBERS (continued)

Teachers Pension Scheme (TPS) (continued)

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2016 and the Valuation Report, which was published in March 2019, confirmed that the employer contribution rate for the TPS would increase from 16.4% to 23.6% from 1 September 2019. Employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 23.68%.

The 31 March 2016 Valuation Report was prepared in accordance with the benefits set out in the scheme regulations and under the approach specified in the Directions, as they applied at 5 March 2019. However, the assumptions were considered and set by the Department for Education prior to the ruling in the ‘McCloud/Sargeant case’. This case has required the courts to consider cases regarding the implementation of the 2015 reforms to Public Service Pensions including the Teachers’ Pensions. On 27 June 2019 the Supreme Court denied the Government permission to appeal the Court of Appeal’s judgment that transitional provisions introduced to the reformed pension schemes in 2015 gave rise to unlawful age discrimination. The Government is respecting the Court’s decision and has said it will engage fully with the Employment Tribunal as well as employer and member representatives to agree how the discriminations will be remedied.

The Government announced on 4 February 2021 that it intends to proceed with a deferred choice underpin under which members will be able to choose either legacy or reformed scheme benefits in respect of their service during the period between 1 April 2015 and 31 March 2022 at the point they become payable.

The TPS is subject to a cost cap mechanism which was put in place to protect taxpayers against unforeseen changes in scheme costs. The Chief Secretary to the Treasury, having in 2018 announced that there would be a review of this cost cap mechanism, in January 2019 announced a pause to the cost cap mechanism following the Court of Appeal’s ruling in the McCloud/Sargeant case and until there is certainty about the value of pensions to employees from April 2015 onwards. The pause was lifted in July 2020, and a consultation was launched on 24 June 2021 on proposed changes to the cost control mechanism following a review by the Government Actuary. The consultation closed to response on 19 August 2021 and the Government is currently analysing the responses. In view of the above rulings and decisions the assumptions used in the 31 March 2016 Actuarial Valuation may become inappropriate. In this scenario, a valuation prepared in accordance with revised benefits and suitably revised assumptions would yield different results than those contained in the Actuarial Valuation.

44

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

11. EMPLOYMENT COSTS AND NUMBERS (continued)

Average Weekly Employment Numbers

The average weekly number of full-time and part-time employees is analysed as follows:

2023
2022		 Parishes
Curia
Total
101
73
174
94
65
159
Total Diocesan Employees

11. DIRECTORS AND KEY MANAGEMENT PERSONNEL

The Directors do not receive any payments in respect of their Office. Directors who are members of the Clergy receive allowances and expenses for their work in active ministry which are paid by their Parish or by the Curia, if they have a non-Parochial role. No payments were made to Lay Directors in either the current year or the prior year. No reimbursement of expenses was paid to the Directors of the Trustee in either the current year or the prior year.

The Charity considers that its key management personnel comprise the Directors and Senior Curia Officers. The Directors did not receive any employment benefits in either the current year or the prior year. Senior Curia Officers received total employment benefits in the year of £321k (2022: £353k), including employers’ National Insurance Contributions of £28k (2022: £32k) and pension contributions of £34k (2022: £19k).

12. NET MOVEMENT IN FUNDS IN THE YEAR

Movement in net funds in the year is stated after charging:

Auditor's Remuneration
- audit services
- other services
Depreciation of Owned Assets
Impairment of Owned Assets
Operating Lease Rentals		 2023
£'000
21
1
695
-
40		 2022
£'000
21
1
682
718
40

45

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

13. TANGIBLE ASSETS

Group

Group
Cost or valuation
At 1 April 2022
Additions
Disposals
Transfers
At 31 March 2023
Depreciation and impairments
At 1 April 2022
Charge for the year
Disposals
At 31 March 2023
Net Book Value 31 March 2023
Net Book Value 1 April 2022		 Freehold
Land and
Buildings
Fixtures,
Fittings and
Equipment
Total
£'000
£'000
£'000
37,562
2,408
39,970
1,569
20
1,589
-
-
-
(335)
-
(335)
38,796
2,428
41,224
10,256
935
11,191
567
51
618
-
-
-
10,823
986
11,809
27,973
1,442
29,415
27,306
1,473
28,779
Total Charity		 Leasehold
Buildings
Fixtures,
Fittings and
Equipment
Total
£'000
£'000
£'000
1,894
408
2,302
-
32
32
-
(12)
(12)
-
-
-
1,894
428
2,322
859
163
1,022
38
39
77
-
(12)
(12)
897
190
1,087
997
238
1,235
1,035
245
1,280
Subsidiary		 Total Group
Freehold
Land and
Buildings
Fixtures,
Fittings and
Equipment
Total
£'000
£'000
£'000
39,456
2,816
42,272
1,569
52
1,621
-
(12)
(12)
(335)
-
(335)
40,690
2,856
43,546
11,115
1,098
12,213
605
90
695
-
(12)
(12)
11,720
1,176
12,896
28,970
1,680
30,650
28,341
1,718
30,059

46

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

13. TANGIBLE ASSETS (continued)

Charity

Charity
Cost or valuation
At 1 April 2022
Additions
Disposals
Transfers
At 31 March 2023
Depreciation and impairments
At 1 April 2022
Charge for the year
Disposals
At 31 March 2023
Net Book Value 31 March 2023
Net Book Value 1 April 2022		 Church
Properties
Church
Contents
Total
£'000
£'000
£'000
28,329
2,383
30,712
796
-
796
-
-
-
-
-
-
29,125
2,383
31,508
9,538
915
10,453
567
48
615
-
-
-
10,105
963
11,068
19,020
1,420
20,440
18,791
1,468
20,259
Parishes		 Freehold
Land and
Buildings
Fixtures,
Fittings and
Equipment
Total
£'000
£'000
£'000
9,233
25
9,258
773
20
793
-
-
-
(335)
-
(335)
9,671
45
9,716
718
20
738
-
3
3
-
-
-
718
23
741
8,953
22
8,975
8,515
5
8,520
Curia		 Total Charity
Freehold
Land and
Buildings
Fixtures,
Fittings and
Equipment
Total
£'000
£'000
£'000
37,562
2,408
39,970
1,569
20
1,589
-
-
-
(335)
-
(335)
38,796
2,428
41,224
10,256
935
11,191
567
51
618
-
-
-
10,823
986
11,809
27,973
1,442
29,415
27,306
1,473
28,779

47

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

14. INVESTMENT PROPERTIES

14.
INVESTMENT PROPERTIES
Cost or valuation
At 1 April 2022
Revaluations
Transfers
At 31 March 2023
Depreciation and impairments
At 1 April 2022 and 31 March 2023
Net Book Value 31 March 2023
Net Book Value 1 April 2022		 Subsidiary
Group
Parishes
Curia
Total
Total
Total
£'000
£'000
£'000
£'000
£'000
5,850
4,565
10,415
1,200
11,615
468
56
524
-
524
-
335
335
-
335
Charity
6,318
4,956
11,274
1,200
12,474
-
-
-
-
-
6,318
4,956
11,274
1,200
12,474
5,850
4,565
10,415
1,200
11,615

Investment Properties are valued on the basis of market value every five years.

Investment Properties held to generate a rental income are valued on the basis of market value as defined in the RICS Valuation and Appraisal Manual (7[th] Edition). The last valuations were carried out by Sanderson Weatherall, Chartered Surveyors, Lambert Smith Hampton, Chartered Surveyors and WBW Chartered Surveyors on 31 March 2022 for the Charity’s Investment Properties and on 26 February 2021 for the Subsidiary’s Investment Property.

Investment Properties earmarked for sale on the open market are valued on the basis of market value taking into consideration the advice of external professional Chartered Surveyors and their estimated net realisable value.

In the intervening years, a review of the fair value is undertaken at the Balance Sheet date and the resulting revaluation or impairment recognised in the Statement of Financial Activities.

In the Trustee’s opinion, the net book value disclosed in the Balance Sheet reflects its best estimate of the fair value of Investment Properties at 31 March 2023.

48

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

15. INVESTMENTS

a) GROUP

Listed Investments
2023
2022
£'000
£'000
Movement in Fixed Asset Investments:
Market value at 1 April
15,047
14,569
Investment Income
333
318
Net Unrealised (Loss)/Gain on Revaluation
(1,539)
350
Net Realised Gains in the Year
259
78
Investment Managers' Costs Deducted from Investments
(76)
(87)
Withdrawn from Investments
-
(181)
Market Value at 31 March
14,024
15,047
Analysis of Market Value of Investment by Type:
Equities
9,464
9,983
Bonds
2,168
2,488
Properties
294
361
Alternative Investments
1,598
1,540
Cash
500
675
Market Value at 31 March
14,024
15,047
Within the United Kingdom
6,417
8,386
Outside the United Kingdom
7,607
6,661
Market Value at 31 March
14,024
15,047
Analysis of Market Value by Fund:
Unrestricted
7,587
8,270
Restricted
5,412
5,754
Permanent Endowment
1,025
1,023
Market Value at 31 March
14,024
15,047
Historic Cost of Investments
11,548
10,979
Analysis of Market Value of Investments between those held within and outside the United Kingdom:		 2022
£'000
14,569
318
350
78
(87)
(181)
15,047
9,983
2,488
361
1,540
675
15,047
15,047
8,270
5,754
1,023
15,047
10,979

49

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

15. INVESTMENTS (continued)

b) CHARITY

The investments of the Charity comprise:

Listed Investments (see Note 15(a) above)
Investment in Subsidiary Companies		 2023
£'000
14,024
1,860
15,884		 2022
£'000
15,047
2,163
17,210

Investment in Subsidiary Companies Hinsley Properties Limited (company registration number 2974080)

The Charity owns 100 per cent of the Ordinary share capital of the company. A provision of £304k (2022: £252k) has been made against the investment in this company in the year. The principal activities of the company were the operation of the Diocesan Pastoral Centre at Hinsley Hall, Leeds, and the management of an investment property, Cathedral Chambers.

A summary of the company's audited trading results for the year ended 31 March 2023 is shown below:

Turnover
Cost of Sales
Administrative Expenses
Other Operating Income
Rent paid to the Parent Undertaking
Loss for the Financial Year		 2023
£'000
911
(807)
(368)
-
(40)
(304)		 2022
£'000
614
(536)
(376)
86
(40)
(252)

50

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

15. INVESTMENTS (continued)

b) CHARITY (continued)

A summary of the company's audited Balance Sheet at 31 March 2023 is shown below:

Fixed Assets
Net Current Liabilities
Total Assets
Called up Share Capital
Profit and Loss Account
Equity Shareholders' Funds		 2023
£'000
2,435
(575)
1,860
1,500
360
1,860		 2022
£'000
2,480
(316)
2,164
1,500
664
2,164

Inter-Diocesan Fuel Management Limited (IFM)

The Charity owns 11.1 (2022: 11.1) per cent of the Ordinary share capital of the company.

IFM was established in 1994 under the Catholic ethos of ‘brother helping brother’. IFM, in addition to achieving best pricing through bulk purchase, has sourced its electricity from renewable energy sources (principally hydro-electric and wind power) for over 20 years. Since 2017 it has been committed to sourcing ‘green’ gas (for example biogas and syngas) and where this has not been possible it has engaged with its suppliers in carbon neutral projects in the United Kingdom and developing countries.

Dormant Company

The trading subsidiary company, Hinsley Properties Limited, owns 100 per cent of the ordinary share capital of Hinsley Hall Limited.

Hinsley Hall Limited was dormant in both the current and the prior year.

51

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

16. DEBTORS

Trade Debtors
Gift Aid Tax Recoverable
Legacies Receivable
Grants Receivable
Other Debtors and Prepayments
Amounts due from/(by) Subsidiary Company
Trade Debtors
Gift Aid Tax Recoverable
Legacies Receivable
Grants Receivable
Other Debtors and Prepayments
Amounts due from/(by) Subsidiary Company		 Charity
Subsidiary
Group
£'000
£'000
£'000
372
38
410
337
-
337
578
-
578
89
-
89
167
23
190
580
(580)
-
2023
2,123
(519)
1,604
Charity
Subsidiary
Group
£'000
£'000
£'000
139
54
193
321
-
321
1,727
-
1,727
162
-
162
314
20
334
357
(357)
-
2022
3,020
(283)
2,737

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade Creditors
Other Tax and Social Security
Accruals and Deferred Income
Other Creditors
Trade Creditors
Other Tax and Social Security
Accruals and Deferred Income
Other Creditors		 Charity
Subsidiary
Group
£'000
£'000
£'000
4,248
35
4,283
47
27
74
82
27
109
210
3
213
4,587
92
4,679
Charity
Subsidiary
Group
£'000
£'000
£'000
4,530
37
4,567
36
27
63
74
15
89
262
3
265
4,902
82
4,984
2023
2022

52

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR (continued)

Included in Trade Creditors is £4,051k (2022: £3,988k) in respect of the School Building Programme for which the Diocese acts as agent. The Diocese is bound by agreement with each individual School and, therefore, has no discretion over the use of these funds. As agent, during the year the Diocese received £1,813k (2022: £2,551k) and made payments of £1,750k (2022: £2,076k). Also included in Trade Creditors is £87k (2022: £108K) held on behalf of St Monica’s Housing Trust Limited, a registered charity operating in the Diocese for the provision of accommodation for destitute women seeking asylum in the United Kingdom.

18. CAPITAL COMMITMENTS

The Diocese entered into a Private Finance Initiative (PFI) arrangement for the building of a School on 4 June 1999. The Leeds Diocesan Trust is obliged to make a payment of £115k per annum until August 2025. The payment is recognised as a charge to the Statement of Financial Activities in the year in which it is incurred.

In addition, the Diocese had capital commitments of £1,034k at 31 March 2023 (2022: £126k).

19. OPERATING LEASES

At 31 March 2023 the Diocese had the following future minimum lease payments under non-cancellable operating leases which fall due as follows:

Expiry date:
Within one year
Between two and five years		 2022
Charity Subsidiary
Groupotalotal
Group
£'000
£'000
£'000
£'000
45
48
93 48
95
97
162
259
##
252
142
210
352
347
2023		 2022
Charity Subsidiary
Groupotalotal
Group
£'000
£'000
£'000
£'000
45
48
93 48
95
97
162
259
##
252
142
210
352
347
2023
347

53

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

20. ANALYSIS OF CHARITABLE FUNDS

a) Analysis of Unrestricted Fund Movements

----- Start of picture text -----
For the year ended 31 March 2023
At 1 April Investments At 31 March
2022 Income Expenditure Transfers Gains/(Losses) 2023
£'000 £'000 £'000 £'000 £'000 £'000
Parishes - Designated Funds 38,480 6,413 (6,846) (728) 896 38,215
Curia - Designated Funds 2,629 - - - - 2,629
Curia - General Funds 7,360 3,145 (3,871) 932 (847) 6,719
Curia - Unrestricted Funds 9,989 3,145 (3,871) 932 (847) 9,348
Total Unrestricted Funds 48,469 9,558 (10,717) 204 49 47,563
For the year ended 31 March 2022
At 1 April Investments At 31 March
2021 Income Expenditure Transfers (Losses)/Gains 2022
£'000 £'000 £'000 £'000 £'000 £'000
Parishes - Designated Funds 37,348 7,457 (4,726) (1,153) (446) 38,480
Curia - Designated Funds 2,698 - (69) - - 2,629
Curia - General Funds 7,062 2,237 (4,228) 1,153 1,136 7,360
Curia - Unrestricted Funds 9,760 2,237 (4,297) 1,153 1,136 9,989
Total Unrestricted Funds 47,108 9,694 (9,023) - 690 48,469
----- End of picture text -----

The transfer of funds from Parishes to the Curia of £728k (2022: £1,153k) is for the annual assessment that is made on Parishes to enable the Diocese to meet its pastoral and charitable objectives and its statutory obligations. The annual assessment is made on each Parish in proportion to its income.

Unrestricted Funds for Parishes are classified as Designated Funds to reflect the autonomy of each Parish given to it under Canon Law. The Designated Funds will be spent over the lifetime of each Parish.

Curia Designated Funds are for future youth evangelisation initiatives.

54

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

20. ANALYSIS OF CHARITABLE FUNDS (continued)

b) Analysis of Restricted Fund Movements

For the year ended 31 March the year ended 31 March 2023
At 1 April Income Expenditure Transfers Investments At 31 March
2022 Losses 2023
£'000 £'000 £'000 £'000 £'000 £'000
Parishes
Parish Fundraising 404 767 (213) (104) - 854
Second Collections - 436 (369) (67) - -
Batley Carr Cockrem Fund 400 8 - - (26) 382
Total Parishes 804 1,211 (582) (171) (26) 1,236
Curia
Priests' Retirement Fund 6,328 136 (507) 18 (351) 5,624
Peru Mission Fund 127 - (30) 10 - 107
Poor Mission Fund 279 - - (98) - 181
Episcopal Mensa Fund 65 1 - - - 66
Pastoral Development Fund 32 - - - - 32
St Patrick's Mission Church 305 40 (18) - - 327
Priests' Training Fund 63 28 (73) 18 - 36
National Schools Singing Programme 310 892 (662) - - 540
Other Funds 273 165 (155) 19 - 302
Total Curia 7,782 1,262 (1,445) (33) (351) 7,215
Total Restricted Funds 8,586 2,473 (2,027) (204) (377) 8,451
For the year ended 2022
At 1 April Income Expenditure Transfers Investments At 31 March
2021 Gains 2022
£'000 £'000 £'000 £'000 £'000 £'000
Parishes
Parish Fundraising 417 898 (987) 76 - 404
Second Collections - 336 (285) (51) - -
Batley Carr Cockrem Fund 385 8 - - 7 400
Total Parishes 802 1,242 (1,272) 25 7 804
Curia
Priests' Retirement Fund 6,361 312 (502) 11 146 6,328
Peru Mission Fund 160 11 (52) 8 - 127
Poor Mission Fund 338 8 - (67) - 279
Episcopal Mensa Fund 64 1 - - - 65
Pastoral Development Fund 32 - - - - 32
St Patrick's Mission Church 272 41 (8) - - 305
Priests' Training Fund 73 54 (79) 15 - 63
National Schools Singing Programme 375 815 (880) - - 310
Other Funds 169 140 (44) 8 - 273
Total Curia 7,844 1,382 (1,565) (25) 146 7,782
Total Restricted Funds 8,646 2,624 (2,837) - 153 8,586

55

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

20. ANALYSIS OF CHARITABLE FUNDS (continued)

b) Analysis of Restricted Fund Movements (continued)

The purposes of the principal funds are detailed below:

Priests’ Retirement Fund:

This fund provides accommodation and allowances for Priests who have retired from active ministry.

Batley Carr Cockrem Fund:

This legacy has been invested for the specific benefit of St Joseph’s Parish, Batley Carr.

Peru Mission Fund:

The Diocese supports the Church’s mission in Peru.

Poor Mission Fund:

This fund provides assistance to less affluent Parishes and Religious Communities within the Diocese.

Episcopal Mensa Fund:

This fund supports the Bishop of Leeds and appeals made at his discretion.

Priests’ Training Fund:

This fund pays for the seminary fees and other costs associated with training men for the Priesthood.

St Patrick’s Mission Church:

This is a Mission in the centre of Bradford and is operated jointly with the Franciscan Friars of the Renewal.

National Schools Singing Programme:

This fund is financed through a grant agreement with the Hamish Ogston Foundation. The grant agreement provides funding over eight years for the development of the Schools Singing Programme both in the Diocese and through a collaborative project with other Catholic Dioceses throughout the United Kingdom, a Catholic College and Anglican Cathedrals.

56

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued) 20. ANALYSIS OF CHARITABLE FUNDS (continued)

c) Analysis of Permanent Endowment Fund Movements

----- Start of picture text -----
For the year ended 31 March 2023
Curia At 1 April At 31 March
2022 Income Expenditure 2023
£'000 £'000 £'000 £'000
Priests' Training Fund 750 22 (22) 750
Poor Mission Fund 82 2 (2) 82
Leeds Cathedral Music Fund 150 6 (4) 152
Mass Intentions Account 41 1 (1) 41
Total Endowment Funds 1,023 31 (29) 1,025
For the year ended 31 March 2022
Curia At 1 April At 31 March
2021 Income Expenditure 2022
£'000 £'000 £'000 £'000
Priests' Training Fund 750 22 (22) 750
Poor Mission Fund 82 2 (2) 82
Leeds Cathedral Music Fund 150 9 (9) 150
Mass Intentions Account 41 1 (1) 41
Total Endowment Funds 1,023 34 (34) 1,023
----- End of picture text -----

57

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

21. NET ASSETS

21.
NET ASSETS
Tangible Fixed Assets
Investment Properties
Fixed Asset Investments		 Unrestricted
Restricted
Total
£'000
£'000
£'000
20,440
-
20,440
6,318
-
6,318
-
385
385
Parishes Funds		 Permanent
Unrestricted
Restricted Endowment
Total
£'000
£'000
£'000
£'000
10,210
-
-
10,210
6,156
-
-
6,156
7,587
5,027
1,025
13,639
2023
Curia Funds		 Total Group and Charity Funds
Permanent
Unrestricted
Restricted Endowment
Total
£'000
£'000
£'000
£'000
30,650
-
-
30,650
12,474
-
-
12,474
7,587
5,412
1,025
14,024
Bank Balances: (Cash/(Overdrafts)) 6,270
851
7,121		 (6,351)
2,188
-
(4,163)		 (81)
3,039
-
2,958
Other Net Current Assets/(Liabilities)
Inter Parishes and Curia Loans (net)
TOTAL NET ASSETS
Tangible Fixed Assets
Investment Properties
Fixed Asset Investments
Bank Balances: (Cash/(Overdrafts))
Other Net Current Assets/(Liabilities)
Inter Parishes and Curia Loans (net)
TOTAL NET ASSETS		 764
-
764
4,423
-
4,423
38,215
1,236
39,451
Unrestricted
Restricted
Total
£'000
£'000
£'000
20,259
-
20,259
5,850
-
5,850
-
400
400
6,620
404
7,024
1,875
-
1,875
3,876
-
3,876
38,480
804
39,284
Parishes Funds		 (3,831)
-
-
(3,831)
(4,423)
-
-
(4,423)
9,348
7,215
1,025
17,588
Permanent
Unrestricted
Restricted Endowment
Total
£'000
£'000
£'000
£'000
9,800
-
-
9,800
5,765
-
-
5,765
8,270
5,354
1,023
14,647
(5,856)
2,428
-
(3,428)
(4,114)
-
-
(4,114)
(3,876)
-
-
(3,876)
9,989
7,782
1,023
18,794
Curia Funds
2022		 (3,067)
-
-
(3,067)
-
-
-
-
47,563
8,451
1,025
57,039
Total Groupand CharityFunds
Permanent
Unrestricted
Restricted Endowment
Total
£'000
£'000
£'000
£'000
30,059
-
-
30,059
11,615
-
-
11,615
8,270
5,754
1,023
15,047
764
2,832
-
3,596
(2,239)
-
-
(2,239)
-
-
-
-
48,469
8,586
1,023
58,078

58

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

22. RELATED PARTY TRANSACTIONS

The Diocese of Leeds Trustee is also the Trustee of one other registered charity, St John’s Catholic School for the Deaf.

The Rt Rev Marcus Stock (Chair of the Trustee) is also a Trustee of a registered charity, Catholic Care (Diocese of Leeds). The Leeds Diocesan Trust made payments to Catholic Care in the year ended 31 March 2023 of £11k (2022: £11k) for care and other support services for retired Priests.

The Leeds Diocesan Trust operates a wholly owned trading subsidiary, Hinsley Properties Limited. Rev Mgr P Fisher and Rev Mgr A Summersgill are Directors of both the Diocese of Leeds Trustee and Hinsley Properties Limited.

During the year, the Charity received £50k (2022: £50k) in rents and management fees from Hinsley Properties Limited. At 31 March 2023 £580k (2022: £357k) was payable to the Leeds Diocesan Trust by Hinsley Properties Limited.

In the prior year, a member of Key Management Personnel used Charity systems for a personal procurement of £3k which was fully reimbursed at 31 March 2022.

59