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2024-03-31-accounts

Leeds Diocesan Trust Registered Charity Number 249404

Report and Consolidated Financial Statements

For the year ended 31 March 2024

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

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 2024 ........................................................... 29 Consolidated Statement of Financial Activities 2023 ........................................................... 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 2024

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) Very Rev E Hegarty (appointed 12 September 2023) Mrs M Benton (appointed 12 September 2023) Mr L Corcoran (appointed 12 September 2023) Mr M Gargan (resigned 24 April 2024) Mr L Kelly (appointed 12 September 2023) Mr P McDermott Mr W O’Neill (appointed 12 September 2023) Mr P Rogerson (resigned 27 June 2023) Ms H Wain (appointed 12 September 2023) Mr P Wilson (appointed 12 September 2023)

Registered Office

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

Company Secretary to the Trustee

Mr J Moran

Auditor

Saffery 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

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LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

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 2024.

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 76 Parishes, in West Yorkshire, North Yorkshire, the East Riding of Yorkshire, Greater Manchester and Lancashire. The Diocese also has 92 Catholic Schools, Academies and Colleges. Leeds Trinity University, a Catholic University, is also located within the Diocese.

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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 Trustee 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 Clergy and suitably qualified and experienced members of the wider Catholic community. The recruitment process followed safer recruitment practice which included a Disclosure and Barring Service (DBS) Check. An Induction Programme is provided for new Directors on their appointment. The programme includes an introduction to their role and responsibilities as Directors and information on the Trust’s governing documents and committee structures. Directors are given briefings on the Diocese’s working in Parishes and the role and functions of Curia departments. Directors attend formal and informal training sessions on a regular basis.

As disclosed in Note 10 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, has a Planning and Review Group and three principal Sub-Committees:

Planning and Review Group

The Planning and Review Group (PRG) consists of: Directors

and the Company Secretary, Mr J Moran.

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REPORT OF THE TRUSTEE (continued)

GOVERNANCE (continued)

Safeguarding Sub-Committee

The Safeguarding Sub-Committee (SSC) consists of: Directors

Members

Education Sub-Committee

The Education Sub-Committee (ESC) consists of: Directors

Members

Finance Sub-Committee

The Finance Sub-Committee (FSC) consists of: Directors

Members

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REPORT OF THE TRUSTEE (continued)

GOVERNANCE (continued)

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

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 which assist the Bishop in the governance of the Diocese. The Bishop delegates oversight of the Curia to the Moderator, Rev Mgr A Summersgill. The Curia collaborates with the Parishes in order to fulfil the Charity’s principal objectives, 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 10 to the Financial Statements. The annual pay award is approved by the Trustee and job roles and remuneration are reviewed periodically.

Planning and Review Group

The Planning and Review Group (PRG) is responsible to the Trustee for facilitating and steering the development of the Diocese’s property and finance strategy. The PRG has oversight and provides direction on:

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REPORT OF THE TRUSTEE (continued)

GOVERNANCE (continued)

Safeguarding

Safeguarding of children, young people and adults at risk is fundamental to the Diocese’s Mission. The Safeguarding Sub-Committee (SSC) is responsible to the Trustee to ensure that a culture of safeguarding pervades in all areas of the Diocese’s Ministry.

The SSC is also 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 by the Catholic Safeguarding Standards Agency (CSSA), as published at https://catholicsafeguarding.org.uk/. The Safeguarding Coordinator reports to the SSC. The SSC has oversight of the Safeguarding Team providing, where appropriate, advice and guidance on the management of individual cases and in the development and implementation of the Diocese’s safeguarding strategy.

Following the appointment of a new Safeguarding Coordinator in May 2023 there was a restructure of the Safeguarding Team which included the appointment to a new Safeguarding Advisor role and the recruitment of a Disclosure and Barring Service (DBS) Administrator.

Safeguarding interventions and support services continue to focus on responding to the needs of victims and survivors and where necessary taking prompt action to protect children, young people or adults who may be at risk. Critical to our interventions and support services is the well-established multi-agency working with the Police, Probation Service and Social Care. The Safeguarding Team keeps under review its case management system which is a key component of its effectiveness. In the year ended 31 March 2024, the Safeguarding Team managed 43 cases of which 10 have been new referrals. The Safeguarding Team have supported 8 victims including signposting them to domestic violence and stalking services, modern day slavery services and Safe Spaces. At its March 2024 Board Meeting the Trustee approved a Charter for the “Care of Victims and Survivors” which can be accessed here: www.dioceseofleeds.org.uk/safeguarding/support-for-survivors/.

Training for Clergy, Employees and Volunteers is essential to safeguarding being embedded, promoted, and adhered to in all areas of the Diocese’s Ministry. A Training Needs Analysis was undertaken during the year, following which bespoke training was provided to the Trustee’s Directors at its March 2024 meeting. In the year ended 31 March 2024 over 150 Priests, Deacons and Employees attended training sessions. In the new financial year, training in line with CSSA guidelines and best practice, will be developed for Volunteers.

The Safeguarding Team works closely with Parishes on the safer recruitment of all adults whose role and responsibilities include contact with children, young people, and adults at risk. A Safer Recruitment Policy is being developed and will be implemented in the new financial year. A Safeguarding Dashboard, “Clearly Simpler”, is being rolled out to Parishes which will enable Parish Safeguarding Representative to better administer the DBS checks and importantly it will facilitate their renewals in line with the CSSA’s 3 yearly policy.

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REPORT OF THE TRUSTEE (continued)

GOVERNANCE (continued)

Safeguarding (continued)

In the year ended 31 March 2024 the Safeguarding Team completed 605 (2023: 803) DBS checks with a further 107 DBS checks being in progress.

Bishop Marcus and the Directors are grateful to Parish Safeguarding Representatives for the essential role they play in delivering the Diocese’s commitment to safeguarding.

Education

Education formation is essential to fulfilling the Diocese’s Mission and is therefore a principal objective of Charity, “Promotion of Catholic Teaching in the Diocese and beyond”. The Education Sub-Committee (ESC) is responsible to the Trustee to monitor and provide strategic support to the Vicariate for Education by:

Catholic Education in Schools and Colleges

Lifelong Faith Formation

Youth Formation

Finance

Good stewardship is integral to the Mission of the Diocese and the Finance Sub-Committee (FSC) is responsible to the Trustee to ensure that the Diocese’s day-to-day financial, property, investment, and administrative matters meet all statutory requirements and follow best practice.

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REPORT OF THE TRUSTEE (continued)

GOVERNANCE (continued)

Finance (continued)

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

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 Parishes and Curia Departments.

The Curia Finance and Property Departments work 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 typically associated with the repairs and maintenance or upgrade of their property portfolios. A key component of this work is identifying grant funding opportunities.

Health and Safety

The FSC is responsible to the Trustee for keeping the Diocesan Health and Safety Policy under review and it works with internal and external Health and Safety professionals to ensure that best practice is maintained throughout the Diocese in its processes and procedures.

The day-to-day management of the Diocesan 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 and Safety obligations and through its Shared Services provides practical bespoke support to Parish Priests in the management of their property portfolios, including Statutory Testing, coordination of Portable Appliance Testing (PAT) and oversight of Fire Risk Assessments.

An e-learning Health and Safety training package promoted by the Diocese’s insurance advisors, Catholic Insurance Services Limited (CIS), was launched during the year for Clergy and Employees. Curia staff are currently working with CIS to develop an appropriate and accessible e-learning Health and Safety training package that can be delivered to volunteers in a group setting.

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 ongoing pressures on household budgets.

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REPORT OF THE TRUSTEE (continued)

GOVERNANCE (continued)

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 Clergy, Staff and Volunteers in Parishes, Curia Departments and agencies. The Diocese’s Privacy Notice and the DPO’s contact details are published on the Diocese’s website www.dioceseofleeds.org.uk/privacy-notice/.

During the year ended 31 March 2024 no data breaches were reported to the Information Commissioner’s Office (ICO) and one Data Subject Access Request (DSAR) was received.

Volunteering

Volunteers (whose roles are a public benefit as articulated in the Charity’s principal objectives), play a central role in fulfilling the Mission of the Church in the Diocese. Parish volunteers are involved in all aspects of the spiritual, pastoral and social life of their Parish communities. Volunteers serve as Extraordinary Ministers of the Eucharist 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 Diocesan agencies such as the Justice and Peace Commission 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 1,200 volunteers providing over 13,000 hours of work in these areas. Whilst it is not practical to place a definite monetary value on this work, an indicator based on the Living Wage Foundation hourly rate of £12 per hour (2023: £10.90 per hour) would suggest a value of at least £156k (2023: £142k) per annum.

Parish Safeguarding Representatives work with the Diocese’s Safeguarding Team to ensure that all volunteers are DBS checked to the appropriate standard for the role they are undertaking and that best safeguarding practices are integral to their ministry.

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REPORT OF THE TRUSTEE (continued)

ACHIEVEMENTS AND PERFORMANCE

A review of the Charity’s principal charitable objectives and its Public Benefit 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 the Faith. Typically, this includes residential retreats, courses such as the Rite of Christian Initiation of Adults (RCIA), Alpha in a Catholic Context or the Sycamore Programme. The Pastoral Statistics from October 2023 indicate that 1,536 (October 2022: 1,651) individuals were baptised, of whom 142 (October 2022: 136) were over 7 years of age. In the same period a further 72 (October 2022: 72) were received into the Catholic Church.

Within our Diocese, the Afro-Caribbean, Eritrean, Hungarian, Italian, Lithuanian, Polish, SyroMalabar and Ukrainian Chaplaincies complement the work of Parishes, enabling members of these communities to worship in their own language and reflecting the richness of the liturgical Rites within the Catholic Church. Signed Masses take place on a monthly basis at Leeds Cathedral and Caritas Leeds is involved in dementia-friendly initiatives. There is also a monthly Cupertino Mass, with a more accessible liturgy particularly for those with additional needs. Priests, Deacons and Laity are Chaplains in hospitals, hospices and prisons throughout the Diocese.

Sunday Mass attendance averaged 18,236 (October 2022: 16,691) in the annual attendance count in October 2023. This represents an increase of 9.3% compared to the prior year.

In July 2023 Leeds Cathedral received a £100k National Lottery Heritage Fund grant for a project entitled “Heritage for All”. The project incorporates several initiatives to promote the sharing of the Cathedral’s history, heritage, and culture at the heart of the City of Leeds. In particular the development of schools’ resources and the recruitment and training of Cathedral Guides aim to help the wider community encounter the faith through the beauty of the Cathedral’s architecture.

The Church’s rich liturgical traditions are expressed publicly through the Cathedral’s annual Civic Carol Service and Palm Sunday Procession, the Blessed Sacrament Procession in the grounds of Hinsley Hall and the Batley Torchlight Procession. Annual Diocesan Pilgrimage Walks, coordinated by the Diocesan Director of Communications are a public witness to promote the Catholic Faith. These pilgrimages include the established St Wilfrid’s Way between Leeds Cathedral and Ripon which has inspired the new Catholic walking pilgrimage initiative “Hearts in Search of God”. Green walking pilgrimages will feature in the 2025 Jubilee Year with its theme

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REPORT OF THE TRUSTEE (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

1. Advancement of the Catholic Religion (continued)

“Pilgrims of Hope”. A new Diocesan Pilgrimage Walk for Vocations “In Father Brown’s Footsteps” took place in March 2024 across Ilkley Moor - Fr John O’Connor, a Priest of the Diocese of Leeds, - was GK Chesterton’s inspiration for his ‘Father Brown’ stories (www.pilgrimways.org.uk/walking as-pilgrims-of-hope-in-father-browns-footsteps).

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.

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

In July 2023, Bishop Marcus designated the existing diocesan charity, Catholic Care, as the new Caritas Leeds. Catholic Care is excellently placed to assist the Bishop, clergy, religious and lay faithful of the Diocese to put many aspects of Catholic Social Teaching into practice. The new structure will provide a forum for representatives of parish projects involved in charitable outreach to collaborate, identify and satisfy new areas of need within the Diocese. Catholic Care will also assume the important role of offering guidance to parish groups wishing to organise new charitable initiatives.

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 amongst those who visit, work, and shop in Bradford’s city centre (www.facebook.com/StPioFriary/).

Parish Second Collections are disclosed as a Restricted Fund in Note 19(b) to the Financial Statements. In the year ended 31 March 2024 £429k (2023: £436k) 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.

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REPORT OF THE TRUSTEE (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

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 92 Catholic designated Educational Establishments consisting of 78 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.

The Diocese’s five Catholic Multi-Academy Trusts (CMATs) continue to support schools. Each CMAT has an established central team to support schools in school improvement, finance, HR, estates management and governance, with CMATs sharing best practice.

At 31 March 2024, 82 per cent of Diocesan Schools had converted from Voluntary-Aided Schools to Academy Status and are members of a CMAT and 88 per cent of all Diocesan Schools are expected to have converted to Academy Status by 31 March 2025.

Vicariate for Education

The Vicariate for Education is proactive in its collaboration with national and regional statutory bodies including the Department for Education and its Regional Director, Ofsted 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. The contribution of Trust Directors and School Governors is essential in ensuring that the Mission of Proclaiming the Gospel is fulfilled in our Schools. The Episcopal Vicar for Education 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 Catholic Education Service (CES), 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. Schools are actively engaging in the National Catholic School Inspection Framework. Key to the provision of an inspiring RE syllabus is the development of Continuous Professional Development (CPD) for RE teachers, in partnership with RE Today.

The National Catholic Leadership Programme has been implemented during the year. This is a an 18-month programme for prospective headteachers to give them a full insight into leadership in Catholic Schools. This will enable the Vicariate for Education to have a clear oversight of future leaders and to assess the potential impact of the continuing recruitment challenges in Catholic leadership.

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REPORT OF THE TRUSTEE (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

2. Promotion of Catholic Teaching (continued)

Vicariate for Education (continued)

The Vicariate for Education is supporting Leeds Cathedral’s ongoing National Lottery Heritage Fund project. Working with Diocesan school teachers, Curia colleagues, Leeds Cathedral and Vicariate for Education Staff have produced a suite of resources aimed at facilitating visits to the Cathedral for groups of Key Stage 2 pupils.

The Youth Team complements the work in our Schools with a programme of well-established events and collaborations throughout the year. “The Twelve” is the Bishop’s Youth Leadership Team. In developing their leadership role, “The Twelve” work with Caritas Leeds (with representatives from Catholic Care) and Leeds Citizens. Current themes include exploring the impact of the Personal, Social, Health and Economic (PSHE) curriculum and the ease of access to support networks in their high schools.

At a national level, the Youth Team works with the Catholic Youth Ministry Federation (CYMFed). Thirty young people from the Diocese attended World Youth Day in Lisbon in August 2023. In July 2023 the youth summer camp took place at the Savio House Retreat Centre, Cheshire. The camp focussed upon the “Narnian” virtues and also gave opportunities for young adults to volunteer as part of the leadership team.

The annual Lourdes Pilgrimage was an overwhelming success with over 200 students from Year Ten and Year Twelve taking part. A Lourdes Pilgrimage formation guide, for both Catholic and non-Catholic School staff has been prepared for the July 2024 pilgrimage. This will support staff in engaging with the Lourdes experience both as a leader and as a pilgrim themselves.

The Youth Team continue to support the work of Faith in Action across schools and parishes. Monthly “Revelation” sessions at Hinsley Hall provide an opportunity for young people to come together in faith to explore the successes and challenges they face and to have fun.

The Bishop’s Certificate in Catechesis has been a tremendous success with a full cohort of over 30 Level 1 delegates graduating in April 2024. Some Catechists have chosen to undertake the Level 2 Certificate. High-quality resources for the first sacramental programmes to support Family Catechesis continue to be in high demand from within and beyond the Diocese.

A comprehensive programme including a Youth Pilgrimage to Rome, complementing the work of the Diocesan Director of Communications, is being prepared for the Year of Jubilee ‘Pilgrims of Hope’ 2025. During the year, as part of the preparations for the Jubilee Year, the focus has been on Adoration of the Blessed Sacrament. Resources have been produced to assist leaders in parishes and schools in facilitating this devotion.

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REPORT OF THE TRUSTEE (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

2. Promotion of Catholic Teaching (continued)

Diocese of Leeds Music

Diocese of Leeds Music 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, their 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, national BBC broadcasts and musical festivals. The Department works with Diocesan Director of Communications, contributing to the Catholic Voice and during the year, Leeds Cathedral Choir broadcast three times on BBC Radio 3 and featured in three episodes of “Songs of Praise” on BBC One.

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) is a funding collaboration between our schools, parishes, and Diocese of Leeds Music. Established in 2003, the Programme now delivers training in liturgical music to around 6,500 children each week in 70 schools, comprising 65 primary schools, 4 secondary schools, and Notre Dame Sixth Form College. A generous grant from the Vinehill Trust (formerly the Hamish Ogston Foundation) has enabled significant expansion in recent years, supporting the employment of additional full-time staff to reach even more schools across the Diocese.

The SSP runs 19 after-school choirs to complement the weekly whole-class singing sessions during the school day. The after-school choirs include boys and girls choirs in Bingley, Bradford, Harrogate, Huddersfield, Keighley, Pontefract, Ripon, Skipton, Wakefield and seven Leeds Cathedral choirs. Choirs sing at Masses and other liturgies at Leeds Cathedral (where there are 8 sung liturgies of Mass and Vespers each week); St Patrick’s, Huddersfield; St Joseph’s, Bradford; and in other parishes across the Diocese.

Partnerships with Gabrieli and The Sixteen, two internationally renowned choral ensembles, provide children from diverse backgrounds with opportunities to sing in public concerts and offer role models for careers in the arts. Diocese of Leeds Music also hosts groups which come to study and work with the SSP, including Vanderbilt University which visited in May 2023 and the University of Texas at El Paso which will visit again in October 2024.

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REPORT OF THE TRUSTEE (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

2. Promotion of Catholic Teaching (continued)

Diocese of Leeds Music (continued)

Keyboard Studies Programme

The Keyboard Studies Programme (KSP) enables around 1,500 children to learn to read music while 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. Support from the Liz and Terry Bramall Foundation over six years has ensured that children, irrespective of their families’ resources, are able to participate in all stages of the KSP.

The highlight of the sixth Leeds International Organ Festival was an ‘in conversation’ with worldfamous concert organist Dame Gillian Weir, hosted by Peter Wright. Lunchtime recitalists included Carlos Paterson, David Bendix Nielsen, Frederick Hohman, Darius Battiwalla and Angela Metzger alongside the Diocese of Leeds Music staff. Paterson and Metzger also delivered masterclasses for students in the KSP which were sponsored by the Brereton Memorial Fund.

National Schools Singing Programme

The National Schools Singing Programme (NSSP) is in its fourth year of development. This initiative offers seed funding, provided by the Vinehill Trust and Benefact Trust, to dioceses and a group of Anglican cathedrals across the UK to create their own Singing Programmes modelled on the Diocese’s SSP. Senior members of the Diocese of Leeds Music staff work with 26 Catholic dioceses, Stonyhurst College and Anglican cathedrals in Derby, York, Liverpool, Sheffield, Leicester, Newcastle and Edinburgh.

3. Provision and Care of Priests

Central to Parish life is the relationship between the Parish Priest, Assistant Priests 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 £776k (2023: £657k) in allowances and offerings, £360k (2023: £332k) in housekeeping costs and £108k (2023: £123k) 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 the University Chaplaincies and the High Schools in the Diocese. The Diocese has three (2023: four) men training for the Priesthood. In the year ended 31 March 2024, the Priests Training Fund received a generous donation of £25k from the St Cuthbert’s Society, Ushaw and income of £20k (2023: £18k) was received from the Parish Second Collection towards seminary fees and living allowances expenditure of £95k (2023: £115k).

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REPORT OF THE TRUSTEE (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

3. Provision and Care of Priests (continued)

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 Priest’s ongoing pastoral development. Priests with greater experience (mentors) are matched with those more recently ordained (mentees).

The Diocese supports Priests who have retired from active ministry by providing appropriate living accommodation and an allowance to supplement their statutory pensions. The Diocese has a collaboration agreement with Catholic Care, a registered charity (as disclosed in note 21 to the Financial Statements) to provide welfare and other practical support to retired Priests. Catholic Care has the expertise to provide assessments for priests immediate and future housing needs and to ensure that retired Priests are receiving appropriate welfare and medical support. This is a bespoke service, tailored to meet the changing needs of each retired Priest.

In the year ended 31 March 2024, income of £18k (2023: £18k) was received from the Parish Second Collection for the Priests Retirement Fund and £118k (2023: £131k) was received in dividend income from an investment fund, the Retired Priests Fund, to support grant payments of £332k (2023: £286k) to retired Priests.

Permanent Deacons

The work of the Bishop and Priests is supported by men ordained to the Permanent Diaconate. The Diocese currently has 22 Permanent Deacons (2023: 23), three of whom serve in other Dioceses. There are four 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. Permanent Deacons 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. The Directorship of the Permanent Diaconate is comprised of three Deacons with roles which encompass recruitment, formation and pastoral care for Permanent Deacons in active ministry and those who have retired from active ministry.

The formation of Permanent Deacons takes place in collaboration with the Dioceses of the Northern Province, through the Northern Diaconal Formation Partnership. This Partnership is currently in the process of registration as a Charitable Incorporated Organisation to which the Diocese and each of the Dioceses of the Partnership will appoint a Trustee. A significant proportion of the formation of the students of this Partnership takes place in residential meetings at our Diocesan Pastoral and Conference Centre, Hinsley Hall.

16

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

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 £1,994k (2023: £1,935k) on refurbishments, maintenance and repairs to churches, presbyteries and parish halls during the year. This level of investment equates to 25 per cent (2023: 24 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 £2,243k (2023: £796k) was invested in churches, principally £468k for the refurbishment of Our Lady of Lourdes, Leeds; £443k for the creation of a narthex at St Wilfrid’s, Ripon; £335k for extensive repairs to the church of St Edward King and Confessor, Clifford; £230k in respect of major roof and structural works at St Joseph’s, Bradford; £191k for the reordering of St Joseph’s, Castleford; £143k for the Community Room at Holy Rosary Church and £138k for projects at Leeds Cathedral.

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 organising local fundraising initiatives and in securing grant funding for Parish property projects. Grants awarded in the year include £100k from the National Lottery Heritage Fund for the “Heritage for All” project at Leeds Cathedral. We are also very grateful to the National Lottery Awards for All scheme for £75k benefiting community projects in seven parishes, to the Benefact Trust for grants totalling £57k for projects in nine parishes and to the Yorkshire Historic Churches Trust for £33k across four parishes. Funding of £40k was very gratefully received from Bradford Metropolitan District Council for food banks and a further £25k for small capital grants. Our Lady of Kirkstall Parish received £25k from Leeds City Council for a project to support asylum seekers and the Albert Gubay Charitable Foundation awarded £25k towards roof repairs at St Augustine’s, Leeds. The Community Room at the Holy Rosary Church, Chapeltown, Leeds has been refurbished thanks to grants now totalling over £185k, including £10k from Leeds City Council and a rare £20k “Last Chance Churches” match funding grant initiative run by the National Churches Trust.

17

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

REPORT OF THE TRUSTEE (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

4. . Maintenance of Property

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 and totalled £182k in the year ended 31 March 2024.

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.

SUSTAINABILITY AND NET CARBON ZERO

During the year a Diocesan Sustainability Management Group was established. Chaired by Rev Mgr A Summersgill (a Vicar General), the Group consists of members of the Diocese’s Justice and Peace Commission and Curia Officers. The Group reports to the Trustee on the implementation of the Trustee’s “Living “Laudato Si’, Statement of Intent”. The Group meets quarterly to develop a sustainability programme for the Diocese in the medium term.

The Diocesan Director of Communications is developing sustainability partnerships with Leeds Trinity University’s Director of Sustainability. A University final year student is working with the Diocesan Property Administrator to calculate a baseline for the Diocese’s Carbon Footprint for all churches, presbyteries and pastoral buildings. This baseline is a key component in the setting of a Diocese Carbon Net Zero Target date.

18

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

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 2024.

----- Start of picture text -----
2024 2023
£'000 £'000
Parishes
Income 8,616 7,624
Expenditure (8,069) (7,428)
547 196
Diocesan Assessment (1,029) (728)
Transfers (61) (171)
Deficit (543) (703)
Net (Losses)/Gains on the Sale and
Impairment of Assets (2,004) 870
(Decrease)/Increase in Reserves (2,547) 167
Curia
Income 4,456 4,438
Diocesan Assessment 1,029 728
Transfers 61 171
Expenditure (6,371) (5,345)
Deficit (825) (8)
Net Gains/(Losses) on the Sale and
Revaluation of Assets 876 (1,198)
Increase/(Decrease) in Reserves 51 (1,206)
Total Group Decrease in Reserves (2,496) (1,039)
----- End of picture text -----

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

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

The total income for the Diocese in the year was £13,072k (2023: £12,062k) an increase of 8 per cent (2023: decrease of 2 per cent) compared with the prior year. The largest individual component of income is from Offertories amounting to £4,293k (2023: £4,032k), an increase of 6 per cent (2023: an increase of 7 per cent) compared with the prior year. Income from Donations, Gifts and Legacies, which is less predictable, was £1,007k in the year compared to £674k in the prior year.

19

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

REPORT OF THE TRUSTEE (continued)

FINANCIAL REVIEW (continued)

The total expenditure in the year was £14,440k (2023: £12,773k) an increase of £1,667k compared with the prior year. This includes £389k increase in employment costs, £261k increase in property repair and maintenance, £240k increase in gas and electricity expenditure and £103k increase in business rates on qualifying Investment Properties. 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 focussed on delivering the Diocese’s Charitable Objectives.

The operational deficit in the year was £1,368k (2023: deficit £711k) and Net Resources decreased in the year by £2,496k (2023: a decrease of £1,039k).

As disclosed in Note 1 to the Financial Statements (Accounting Policies 1.12), occupied school properties are valued at £Nil (2023: £Nil) as the Directors consider these properties to be inalienable.

At 31 March 2024, the Diocese reported a net cash position of £1,610k (2023: £2,958k). The Consolidated Cash Flow Statement on page 32 reports a net decrease in cash and cash equivalents of £1,348k (2023: decrease of £638k), a net cash outflow from Operating Activities of £1,684k (2023: inflow £185k) and net cash inflow from Investing Activities £336k (2023: outflow £823k). As disclosed in Note 16 to the Financial Statements £2,765k (2023: £4,051k) 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 ethical 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 2024 was £13,454k (2023: £14,024k). The movements are analysed in Note 14 to the Financial Statements. The main components comprise investment income generated of £328k (2023: £333k), cash withdrawn of £1,700k (2023: £Nil) and profits arising on the sale of investments of £496k (2023: £259k). The unrealised gain on revaluation of £380k (2023: loss £1,539k) reflects the return to relative market stability following the volatilities in the prior year due to the Russian invasion of Ukraine and the associated global supply and inflationary pressures. At the date of signing this report the Market Value of investments has been maintained compared with 31 March 2024.

20

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

REPORT OF THE TRUSTEE (continued)

FINANCIAL REVIEW (continued)

Investment Policy and Performance (continued)

The Diocese holds a portfolio of investment properties that are no longer required for meeting its principal Charitable Objectives and are either held to generate a long-term rental income or in view of long-term sale.

Reserves Policy

The Total Funds of the Diocese at 31 March 2024 were £54,543k (2023: £57,039k) of which £36,904k (2023: £39,451k) relates to Parishes and £17,639k (2023: £17,588k) 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 £3,610k for the year ended 31 March 2024 (2023: £3,193k) 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 2024, Free Reserves were £12,303k (2023: £16,913k) and represented ten months (2023: sixteen 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 includes £1,030k (2023: £1,025k) in Permanent Endowment Funds and £8,641k (2023: £8,451k) in Restricted Funds. The allocation of Permanent Endowment Funds and Restricted Funds is determined by the wishes of the donors and are disclosed respectively in Notes 19(a) and 19(b) to the Financial Statements. Unrestricted Funds of £44,872k (2023: £47,563k) comprise Designated Funds in Parishes of £35,968k (2023: £38,215k) and General Funds in the Curia of £8,904k (2023: £9,348k). Designated Funds in Parishes ensure the financial sustainability of each Parish.

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 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 14(b) to the Financial Statements, during the year the company generated a turnover of £974k (2023: £911k) and reported an operating loss of £293k (2023: loss £304k). The retained loss for the year of £293k (2023: £304k) has been taken to the consolidated unrestricted reserves.

21

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

REPORT OF THE TRUSTEE (continued)

FINANCIAL REVIEW (continued)

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 Charity’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 26 June 2024 and signed on its behalf by:

Rt Rev M Stock

Bishop of Leeds Director

22

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

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 and the Group 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 2024

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 2024 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 2024

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 2024

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 2024

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 2024

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

27 June 2024

Saffery 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 2024

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES 2024

Note
Income and Endowments from:
Donations, Legacies and Grants
2
Charitable Activities
3
Trading Activities
Investment Income
4
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
6,066
1,550
7,616
98
-
98
893
-
893
-
9
9
7,057
1,559
8,616
-
-
-
7,376
693
8,069
7,376
693
8,069
(319)
866
547
Parishes		 Unrestricted
Funds
Restricted
Funds
Permanent
Endowment
Funds
Total
Funds
£'000
£'000
£'000
£'000
236
1,502
5
1,743
1,058
-
-
1,058
1,021
-
-
1,021
474
125
35
634
2,789
1,627
40
4,456
1,304
-
-
1,304
3,523
1,509
35
5,067
4,827
1,509
35
6,371
(2,038)
118
5
(1,915)
1,029
61
-
1,090
Curia and Subsidiary		 Group
Total
Funds
£'000
9,359
1,156
1,914
643
13,072
1,304
13,136
14,440
(1,368)
Gross Transfer between Funds 105
(1,195)
(1,090)		 -
Net Operating (Expenditure)/Income
Net Gains on Investment Assets
Net Gains on the Sale of Investment Properties
Net (Expenditure)/Income
Net Loss on Investment Property Valuation
Net Movement in Funds
11
Reconciliation of Funds:
Total Funds brought forward
Total Funds carried forward		 (214)
(329)
(543)
-
29
29
35
-
35
(179)
(300)
(479)
(2,068)
-
(2,068)
(2,247)
(300)
(2,547)
38,215
1,236
39,451
35,968
936
36,904		 (1,009)
179
5
(825)
536
311
-
847
29
-
-
29
(444)
490
5
51
-
-
-
-
(444)
490
5
51
9,348
7,215
1,025
17,588
8,904
7,705
1,030
17,639
(1,368)
876
64
(428)
(2,068)
(2,496)
57,039
54,543

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 2024 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 2024

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
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
11
Reconciliation of Funds:
Total Funds brought forward
Total Funds carried forward		 (728)
(171)
(899)
(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		 932
(33)
-
899
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.

30

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

CONSOLIDATED BALANCE SHEET AND CHARITY BALANCE SHEET

Note
Fixed Assets		 2024
2023
£'000
£'000
Group		 Charity
2024
2023
£'000
£'000
Tangible Assets
12
Investment Properties
13
Investments
14
Total Fixed Assets
Current Assets
Inventories
Debtors
15
Cash at Bank and in Hand
Total Current Assets
Current Liabilities
Creditors and Accrued Expenses
16
Creditors: Amounts falling due within one year		 32,569
30,650
9,515
12,474
13,454
14,024
55,538
57,148
10
8
1,294
1,604
1,610
2,958
2,914
4,570
(3,909)
(4,679)
(3,909)
(4,679)		 31,384
29,415
8,315
11,274
15,021
15,884
54,720
56,573
-
-
2,015
2,123
1,574
2,930
3,589
5,053
(3,766)
(4,587)
(3,766)
(4,587)
Net Current (Liabilities)/Assets (995)
(109)		 (177)
466
Total Assets less Current (Liabilities)/Assets 54,543
57,039		 54,543
57,039
Total Net Assets 54,543
57,039		 54,543
57,039
The Funds of the Charity:
Unrestricted Funds
- Designated Funds
19
- General Funds
19
Restricted Funds
19
Permanent Endowments
19		 35,968
38,215
8,904
9,348
8,641
8,451
1,030
1,025		 35,968
38,215
8,904
9,348
8,641
8,451
1,030
1,025
Total Charity Funds 54,543
57,039		 54,543
57,039

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

These Financial Statements were approved and authorised by the Directors on 26 June 2024 and signed on their behalf by:

Rt Rev M Stock

Bishop of Leeds Director

31

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

CONSOLIDATED CASH FLOW STATEMENT

----- Start of picture text -----
2024 2023
£'000 £'000
Cash Flows from Operating Activities
Net Movement in Funds (2,496) (1,039)
Adjusted for:
Deprecation Charges 715 695
Impairment/(Revaluation) of Investment Properties 2,068 (524)
Gains on Disposal of Investment Properties (64) (428)
Net (Gains)/Losses on Investments (876) 1,280
Investment Income (643) (703)
Decrease in Debtors 310 1,133
Decrease in Creditors (770) (305)
Increase in Inventories (2) -
Other non cash Expenditure 74 76
Net Cash (used in)/provided by Operating Activities (1,684) 185
Cash Flows from Investing Activities
-
Proceeds from the Disposal of Fixed Asset Investments 1,700
Investment Properties Income 315 370
Proceeds from the Sale of Investment Properties 955 428
Payments to Acquire Tangible Fixed Assets (2,634) (1,621)
Net Cash provided by/(used in) Investing Activities 336 (823)
Net Decrease in Cash and Cash Equivalents (1,348) (638)
Cash and Cash Equivalents at the beginning of year 2,958 3,596
Cash and Cash Equivalents at the end of year 1,610 2,958
----- End of picture text -----

ANALYSIS OF NET CASH

----- Start of picture text -----
2024 Movement 2023 Movement 2022
£'000 £'000 £'000 £'000 £'000
Cash at Bank and in Hand 1,610 (1,348) 2,958 (638) 3,596
----- End of picture text -----

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

32

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

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 (GBP) 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 Parishes and Curia, 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 2024

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, 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.

Investment management fees, interest costs, 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 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

ACCOUNTING POLICIES (continued)

1.6 Commitments

Commitments 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 Limited.

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 on this Scheme is disclosed in Note 9 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 2024

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 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

ACCOUNTING POLICIES (continued)

1.13 Properties Held for Resale

Parish and Curia 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 19(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 2024

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 debtors at the Balance Sheet date includes estimates for deferred income with respect to Legacies, Grants, and Gift Aid Tax Recoverable.

38

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

2. DONATIONS, LEGACIES AND GRANTS

Offertories
Donations and Gifts
Votives		 Designated
Funds
Restricted
Funds
Total
Funds
£'000
£'000
£'000
4,277
-
4,277
171
-
171
226
-
226
Parishes		 Unrestricted
Funds
Restricted
Funds
Permanent
Endowment
Funds
Total
Funds
£'000
£'000
£'000
£'000
16
-
-
16
160
75
1
236
-
-
-
-
Curia
2024		 Group
Total
Funds
£'000
4,293
407
226
Legacies 583
-
583		 17
-
-
17		 600
Gift Aid Tax Refunds
Parish Projects
Parish Second Collections
Diocesan Second Collections
National Second Collections		 736
-
736
-
399
399
-
172
172
-
98
98
-
159
159		 43
4
4
51
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 787
399
172
98
159
Grants -
722
722		 -
1,423
-
1,423
-
-
-
-
236
1,502
5
1,743
Unrestricted
Funds
Restricted
Funds
Permanent
Endowment
Funds
Total
Funds
£'000
£'000
£'000
£'000
-
17
-
17
97
31
2
130
-
-
-
-
54
25
-
79
48
-
-
48
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,052
-
1,052
-
-
-
-
199
1,125
2
1,326
Curia
2023		 2,145
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		 73
-
73
6,066
1,550
7,616
Designated
Funds
Restricted
Funds
Total
Funds
£'000
£'000
£'000
4,015
-
4,015
168
-
168
193
-
193
297
-
297
726
-
726
-
163
163
-
131
131
-
109
109
-
196
196
-
604
604
40
-
40
5,439
1,203
6,642
Parishes		 73
9,359
Group
Total
Funds
£'000
4,032
298
193
376
774
163
131
109
196
1,656
40
7,968

39

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

3. INCOME FROM CHARITABLE ACTIVITIES

Income from charitable activities consists of:

----- Start of picture text -----
2024 2023
£'000 £'000
School Contribution Scheme 314 278
Music Contribution Scheme 206 149
Youth Pilgrimages 141 19
Conference Fees 26 5
Cemetery Fees 291 320
Other 178 142
Total 1,156 913
----- End of picture text -----

4. INVESTMENT INCOME

----- Start of picture text -----
2024
Unrestricted Restricted Permanent Total
Funds Funds Endowment Funds
Funds
£'000 £'000 £'000 £'000
Income arising from:
Investment Properties 309 6 - 315
Listed Investments 165 128 35 328
Total 474 134 35 643
2023
Unrestricted Restricted Permanent Total
Fund Fund Endowment Funds
Fund
£'000 £'000 £'000 £'000
Income arising from:
Investment Properties 365 5 - 370
Listed Investments 164 140 29 333
Total 529 145 29 703
----- End of picture text -----

5. TOTAL COST OF RAISING FUNDS

The total cost of raising funds consists of:

Interest Payable
Investment Management Fees
Hinsley Properties Limited Expenditure
Total		 2024
£'000
10
77
1,217
1,304		 2023
£'000
-
82
1,164
1,246

40

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

6. CHARITABLE EXPENDITURE

Parishes
Grants Payable
Other Direct Costs
Support Costs
Total		 2024
Aims of the Charity
Advancement
of Catholic
Religion
Promotion of
Catholic
Teaching
Care of
Priests
Maintenance
of Properties
Total
£'000
£'000
£'000
£'000
£'000
75
-
-
-
75
1,194
55
1,767
3,956
6,972
184
8
256
574
1,022
1,453
63
2,023
4,530
8,069
Curia
Grants Payable		 124
343
348
-
815
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		 397
1,703
453
615
3,168
142
557
218
167
1,084
663
2,603
1,019
782
5,067
199
343
348
-
890
1,591
1,758
2,220
4,571
10,140
326
565
474
741
2,106
2,116
2,666
3,042
5,312
13,136
Aims of the Charity
2023
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
90
283
312
-
685
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

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 £24k (2023: £22k).

41

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

7. ANALYSIS OF GRANTS PAYABLE

----- Start of picture text -----
2024 2023
Grants to
Institutions Individuals Total Total
£'000 £'000 £'000 £'000
National Schools Singing Programme Participants 310 - 310 250
Catholic Trust for England and Wales 97 - 97 61
Catholic Education Service 33 - 33 33
Priests' Retirement Grants - 332 332 286
Seminarian Grants - 17 17 25
Peru Mission 26 - 26 30
Local Organisations 75 - 75 49
541 349 890 734
----- End of picture text -----

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 some Anglican Cathedrals.

There were 39 (2023: 38) grants given for the benefit of retired Priests amounting to £332k (2023: £286k).

8. CLERGY COSTS

2024
2023		 Parishes
Curia
Total
£'000
£'000
£'000
877
179
1,056
748
179
927
Clergy Allowances

These allowances relate to Clergy in active ministry.

42

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

9. EMPLOYMENT COSTS AND NUMBERS

Staff costs comprise the following:

----- Start of picture text -----
2024 2023
Parishes Curia Total Total
£'000 £'000 £'000 £'000
Salaries and Wages 688 2,116 2,804 2,427
Employers' National Insurance 27 199 226 239
Pension Costs 12 169 181 156
Gross Employment Costs 727 2,484 3,211 2,822
----- End of picture text -----

Included in Curia Gross Employment Costs are £548k (2023: £505k) in respect of Gross Employment Costs for Hinsley Properties Limited.

During the year payments of £3k (2023: £45k) were paid to two employees (2023: 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:

----- Start of picture text -----
2024 2023
£60,001 to £70,000 3 3
£70,001 to £80,000 2 -
£80,001 to £90,000 - -
£90,001 to £100,000 - 1
£100,001 to £110,000 1 -
6 4
----- End of picture text -----

Volunteers

Central to the fulfilment of the Charity’s Objectives is the role played by volunteers in ministries in the Parishes. There are 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 Wage Foundation hourly rate of £12.00 (2023: £10.90) per hour would suggest a value of at least £156k (2023: £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 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

9. 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 judgement 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 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

9. EMPLOYMENT COSTS AND NUMBERS (continued)

Average Weekly Employment Numbers

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

----- Start of picture text -----
Total Diocesan Employees
Parishes Curia Total
2024 97 68 165
2023 101 73 174
----- End of picture text -----

Included in Curia employees are 26 (2023: 26) staff employed by Hinsley Properties Limited.

10. 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 either their Parish for a Parochial role 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 £364k (2023: £321k), including employers’ National Insurance Contributions of £32k (2023: £28k) and pension contributions of £18k (2023: £34k).

11. 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
Operating Lease Rentals		 2024
£'000
23
1
715
40		 2023
£'000
21
1
695
40

45

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

12. TANGIBLE ASSETS

Group

----- Start of picture text -----
Total Charity Subsidiary Total Group
Fixtures, Leasehold Fixtures, Fixtures,
Freehold Land Fittings and Buildings Fittings and Freehold Land Fittings and
and Buildings Equipment Total Improvements Equipment Total and Buildings Equipment Total
£'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000
Cost or valuation
At 1 April 2023 38,796 2,428 41,224 1,894 428 2,322 40,690 2,856 43,546
Additions 2,603 - 2,603 - 31 31 2,603 31 2,634
At 31 March 2024 41,399 2,428 43,827 1,894 459 2,353 43,293 2,887 46,180
Depreciation and impairments
At 1 April 2023 10,823 986 11,809 897 190 1,087 11,720 1,176 12,896
Charge for the year 581 53 634 38 43 81 619 96 715
At 31 March 2024 11,404 1,039 12,443 935 233 1,168 12,339 1,272 13,611
Net Book Value 31 March 2024 29,995 1,389 31,384 959 226 1,185 30,954 1,615 32,569
Net Book Value 1 April 2023 27,973 1,442 29,415 997 238 1,235 28,970 1,680 30,650
----- End of picture text -----

46

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

12. TANGIBLE ASSETS (continued)

Charity

Cost or valuation
At 1 April 2023
Additions
At 31 March 2024
Depreciation and impairments
At 1 April 2023
Charge for the year
At 31 March 2024
Net Book Value 31 March 2024
Net Book Value 1 April 2023		 Church
Properties
Church
Contents
Total
£'000
£'000
£'000
29,125
2,383
31,508
2,243
-
2,243
31,368
2,383
33,751
10,105
963
11,068
581
48
629
10,686
1,011
11,697
20,682
1,372
22,054
19,020
1,420
20,440
Parishes		 Freehold
Land and
Buildings
Fixtures,
Fittings and
Equipment
Total
£'000
£'000
£'000
9,671
45
9,716
360
-
360
10,031
45
10,076
718
23
741
-
5
5
718
28
746
9,313
17
9,330
8,953
22
8,975
Curia		 Total Charity
Freehold
Land and
Buildings
Fixtures,
Fittings and
Equipment
Total
£'000
£'000
£'000
38,796
2,428
41,224
2,603
-
2,603
41,399
2,428
43,827
10,823
986
11,809
581
53
634
11,404
1,039
12,443
29,995
1,389
31,384
27,973
1,442
29,415

47

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

13. INVESTMENT PROPERTIES

----- Start of picture text -----
Charity Subsidiary Group
Parishes Curia Total Total Total
£'000 £'000 £'000 £'000 £'000
Cost or valuation
At 1 April 2023 6,318 4,956 11,274 1,200 12,474
Disposals (500) (391) (891) - (891)
- -
Impairments (2,068) (2,068) (2,068)
At 31 March 2024 3,750 4,565 8,315 1,200 9,515
Depreciation and impairments
At 1 April 2023 and 31 March 2024 - - - - -
Net Book Value 31 March 2024 3,750 4,565 8,315 1,200 9,515
Net Book Value 1 April 2023 6,318 4,956 11,274 1,200 12,474
----- End of picture text -----

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 long term 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 2024.

48

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

14. INVESTMENTS

a) GROUP

Listed Investments
2024
£'000
Movement in Fixed Asset Investments:
Market value at 1 April
14,024
Investment Income
328
Net Unrealised Gain/(Loss) on Revaluation
380
Net Realised Gains in the Year
496
Investment Managers' Costs Deducted from Investments
(74)
Withdrawn from Investments
(1,700)
Market Value at 31 March
13,454
Analysis of Market Value of Investment by Type:
Equities
8,580
Bonds
1,959
Properties
248
Alternative Investments
1,686
Cash
981
Market Value at 31 March
13,454
Within the United Kingdom
6,717
Outside the United Kingdom
6,737
Market Value at 31 March
13,454
Analysis of Market Value by Fund:
Unrestricted
6,985
Restricted
5,439
Permanent Endowment
1,030
Market Value at 31 March
13,454
Historic Cost of Investments
10,594
Analysis of Market Value of Investments between those held within and outside the United		 2023
£'000
15,047
333
(1,539)
259
(76)
-
14,024
9,464
2,168
294
1,598
500
14,024
6,417
7,607
Kingdom:
14,024
7,587
5,412
1,025
14,024
11,548

49

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

14. INVESTMENTS (continued)

b) CHARITY

The investments of the Charity comprise:

Listed Investments (see Note 14(a) above)
Investment in Subsidiary Companies		 2024
£'000
13,454
1,567
15,021		 2023
£'000
14,024
1,860
15,884

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 £293k (2023: £304k) 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 2024 is shown below:

----- Start of picture text -----
2024 2023
£'000 £'000
Turnover 974 911
Cost of Sales (843) (807)
Administrative Expenses (384) (368)
Rent paid to the Parent Undertaking (40) (40)
Loss for the Financial Year (293) (304)
----- End of picture text -----

A summary of the company's audited Balance Sheet at 31 March 2024 is shown below:

Fixed Assets
Net Current Liabilities
Total Assets
Called up Share Capital
Profit and Loss Account
Equity Shareholders' Funds		 2024
£'000
2,385
(818)
1,567
1,500
67
1,567		 2023
£'000
2,435
(575)
1,860
1,500
360
1,860

50

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

14. INVESTMENTS (continued)

b. CHARITY (continued)

Inter-Diocesan Fuel Management Limited (IFM)

The Charity owns 11.1 per cent (2023: 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 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

15. DEBTORS

----- Start of picture text -----
2024
Charity Subsidiary Group
£'000 £'000 £'000
Trade Debtors 181 50 231
Gift Aid Tax Recoverable 355 - 355
Legacies Receivable 428 - 428
Grants Receivable 121 - 121
Other Debtors and Prepayments 140 19 159
Amounts due from/(by) Subsidiary Company 790 (790) -
2,015 (721) 1,294
2023
Charity Subsidiary Group
£'000 £'000 £'000
Trade Debtors 372 38 410
Gift Aid Tax Recoverable 337 - 337
Legacies Receivable 578 - 578
Grants Receivable 89 - 89
Other Debtors and Prepayments 167 23 190
Amounts due from/(by) Subsidiary Company 580 (580) -
2,123 (519) 1,604
----- End of picture text -----

16. 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
2,966
51
3,017
56
41
97
520
48
568
224
3
227
2024
3,766
143
3,909
Charity
Subsidiary
Group
£'000
£'000
£'000
4,248
35
4,283
47
27
74
82
27
109
210
3
213
2023
4,587
92
4,679

52

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

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

Included in Trade Creditors is £2,765k (2023: £4,051k) 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 £3,010k (2023: £1,813k) and made payments of £4,296k (2023: £1,750k). Also included in Trade Creditors is £34k (2023: £87k) 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.

17. 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 £90k at 31 March 2024 (2023: £1,034k).

18. OPERATING LEASES

At 31 March 2024 the Diocese had the following future minimum lease payments under non-cancellable operating leases which fall due as follows:

----- Start of picture text -----
2024 2023
Charity Subsidiary Groupotalotal Group
£'000 £'000 £'000 £'000
Expiry date:
Within one year 43 46 89 46 93
Between two and five years 96 173 269 ## 259
139 219 358 352
----- End of picture text -----

53

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

19. ANALYSIS OF CHARITABLE FUNDS

a) Analysis of Unrestricted Fund Movements

At 1 April
Transfer of
Investments
At 31 March
2023
Income
Expenditure
Funds
Losses
2024
£'000
£'000
£'000
£'000
£'000
£'000
Parishes - Designated Funds
38,215
7,057
(7,376)
105
(2,033)
35,968
For the year ended 31 March 2024		 At 1 April
Transfer of
Investments
At 31 March
2023
Income
Expenditure
Funds
Losses
2024
£'000
£'000
£'000
£'000
£'000
£'000
Parishes - Designated Funds
38,215
7,057
(7,376)
105
(2,033)
35,968
For the year ended 31 March 2024
Curia - Designated Funds 2,629
-
-
-
-
2,629
Curia - General Funds
6,719
2,789
(4,827)
1,029
565
6,275
Curia - Unrestricted Funds
9,348
2,789
(4,827)
1,029
565
8,904
Total Unrestricted Funds
47,563
9,846
(12,203)
1,134
(1,468)
44,872
At 1 April
Transfer of
Investments
At 31 March
2022
Income
Expenditure
Funds
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 2023		 6,719
2,789
(4,827)
1,029
565
6,275
9,348
2,789
(4,827)
1,029
565
8,904
47,563
9,846
(12,203)
1,134
(1,468)
44,872
9,989
3,145
(3,871)
932
(847)
9,348
48,469
9,558
(10,717)
204
49
47,563

The transfer of funds from Parishes to the Curia of £1,029k (2023: £728k) 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.

Parishes – Designated Funds, Transfer £105k consists of £1,134k transfer from Parish Restricted Funds offset by a transfer of £1,029k to Curia General Funds.

As disclosed in Note 19(b) of the Financial Statements below, the £1,134k relates to the transfer from Parishes Restricted Funds to Parishes Unrestricted Funds of capitalised Parish building projects which have been financed by restricted fundraising initiatives and Grant funding.

Unrestricted Funds for Parishes are classified as Designated Funds to reflect the autonomy of each Parish given to it under Canon Law.

Curia Unrestricted Funds are allocated to fulfilling the Diocese’s Mission and the Diocese’s statutory responsibilities. Curia Designated Funds are for future youth evangelisation initiatives.

54

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

19. ANALYSIS OF CHARITABLE FUNDS (continued)

b) Analysis of Restricted Fund Movements

For the year ended 31 March 2024
At 1 April Transfer of Investments At 31 March
2023 Income Expenditure Funds Losses 2024
£'000 £'000 £'000 £'000 £'000 £'000
Parishes
Parish Fundraising 854 1,121 (325) (1,134) - 516
Second Collections - 429 (368) (61) - -
Batley Carr Cockrem Fund 382 9 - - 29 420
Total Parishes 1,236 1,559 (693) (1,195) 29 936
Curia
Priests' Retirement Fund 5,624 118 (634) 18 305 5,431
Peru Mission Fund 107 6 (26) 2 - 89
Poor Mission Fund 181 - - 10 - 191
Episcopal Mensa Fund 66 1 - - 6 73
Pastoral Development Fund 32 - - - - 32
St Patrick's Mission Church 327 29 (17) - - 339
Priests' Training Fund 36 37 (53) 20 - 40
National Schools Singing Programme 540 1,388 (726) - - 1,202
Other Funds 302 48 (53) 11 - 308
Total Curia 7,215 1,627 (1,509) 61 311 7,705
Total Restricted Funds 8,451 3,186 (2,202) (1,134) 340 8,641
For the year ended 31 March 2023
At 1 April Transfer of Investments At 31 March
2022 Income Expenditure Funds 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

55

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

19. ANALYSIS OF CHARITABLE FUNDS (continued)

b) Analysis of Restricted Fund Movements (continued)

The purposes of the principal funds are detailed below:

Batley Carr Cockrem Fund:

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

Priests Retirement Fund:

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

Peru Mission Fund:

Poor Mission Fund:

Episcopal Mensa Fund:

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

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.

Priests Training Fund:

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

National Schools Singing Programme:

This fund is financed through a grant agreement with the Vinehill Trust. 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 some Anglican Cathedrals.

56

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

19. ANALYSIS OF CHARITABLE FUNDS (continued)

c) Analysis of Permanent Endowment Fund Movements

----- Start of picture text -----
For the year ended 31 March 2024
Curia At 1 April At 31 March
2023 Income Expenditure 2024
£'000 £'000 £'000 £'000
Priests' Training Fund 750 27 (27) 750
Poor Mission Fund 82 3 (3) 82
Leeds Cathedral Music Fund 152 9 (4) 157
Mass Intentions Account 41 1 (1) 41
Total Endowment Funds 1,025 40 (35) 1,030
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
----- End of picture text -----

57

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

20. NET ASSETS

----- Start of picture text -----
2024
Parishes Funds Curia Funds Total Group and Charity Funds
Permanent Permanent
Unrestricted Restricted Total Unrestricted Restricted Endowment Total Unrestricted Restricted Endowment Total
£'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000
Tangible Fixed Assets 22,054 - 22,054 10,515 - - 10,515 32,569 - - 32,569
Investment Properties 3,750 - 3,750 5,765 - - 5,765 9,515 - - 9,515
Fixed Asset Investments - 420 420 6,985 5,019 1,030 13,034 6,985 5,439 1,030 13,454
Bank Balances: (Cash/(Overdrafts)) 7,273 516 7,789 (8,865) 2,686 - (6,179) (1,592) 3,202 - 1,610
Other Net Current Assets/(Liabilities) 111 - 111 (2,716) - - (2,716) (2,605) - - (2,605)
Inter Parishes and Curia Loans (net) 2,780 - 2,780 (2,780) - - (2,780) - - - -
TOTAL NET ASSETS 35,968 936 36,904 8,904 7,705 1,030 17,639 44,872 8,641 1,030 54,543
2023
Parishes Funds Curia Funds Total Group and Charity Funds
Permanent Permanent
Unrestricted Restricted Total Unrestricted Restricted Endowment Total Unrestricted Restricted Endowment Total
£'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000
Tangible Fixed Assets 20,440 - 20,440 10,210 - - 10,210 30,650 - - 30,650
Investment Properties 6,318 - 6,318 6,156 - - 6,156 12,474 - - 12,474
Fixed Asset Investments - 385 385 7,587 5,027 1,025 13,639 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) 764 - 764 (3,831) - - (3,831) (3,067) - - (3,067)
Inter Parishes and Curia Loans (net) 4,423 - 4,423 (4,423) - - (4,423) - - - -
TOTAL NET ASSETS 38,215 1,236 39,451 9,348 7,215 1,025 17,588 47,563 8,451 1,025 57,039
----- End of picture text -----

58

LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

21. 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. There were no related party transactions in either the current year or the prior year.

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 2024 of £11k (2023: £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 (2023: £50k) in rent and management fees from Hinsley Properties Limited. At 31 March 2024 £790k (2023: £580k) was payable to the Leeds Diocesan Trust by Hinsley Properties Limited.

59