Leeds Diocesan Trust Registered Charity Number 249404 Report and Consolidated Financial Statements For the year ended 31 March 2025 DIocF-.SE 01 LEF.l)S LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 CONTENTS Directors and Advisors.......................................................................................................... Report ofthe Trustee............................................................................................................ Trustee's Responsibilities in relation to the Financial Statements .25 Independent Auditorfs Report to the Trustee ofthe Leeds Diocesan Trust.......................... 26 Consolidated Statement of Financial Activities 2025........................................................... 31 Consolidated Statement of Financial Activities 2024.. .32 Consolidated Balance Sheet and Charity Balan￿ Sheel.................................................... 33 Consolidated Cash Flow Statement.................................................................................... 34 Notes tothe Financial Statements....................................................................................... 35 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 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 Rev Mgr P Fisher Rev Mgr A Summersgill Very Rev E Hegarty Mrs M Benton (Bishop of Leeds) (Vicar General) (Vicar General) Mr L Corcoran Mr M Gargan Mr L Kelly Mr P McDermott Mr W O'Neill Ms H Wain Mr P Wilson (resigned 24 April 2024) (resigned 3 July 2024) Registered Office Hinsley Hall, 62 Headingley Lane, Leeds, LS6 2BX Company Secretary to the Trustee Mr J Moran Auditor Saffery LLP, 10 Wellington Place, Leeds, LS14AP Banker HSBC Bank plc, 33 Park Row, Leeds, LS1 1 LD Investment Manager Rathbone Investment Management, 30 Gresham Street, London, EC2V 7QN Solicitors Wrigley Solicitors LLP, 1 sl Floor, 3 Wellinglon Place, Leeds LS14AP Hill Dickinson LLP, No 1 St Paul's Square, Liverpool, L3 9SJ LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEE The Trustee presents its Annual Report and the audited Consolidated Financial Statements ofthe Charity for the year ended 31 March 2025. CONSTITUTION AND AIMS The Charity, the Leeds Di0￿san Trust I'lhe Diocese.), is a registered charity with Ihe 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 Di0￿Se of Leeds Trustee, company registration number 28862H. In support of the Mission of the Catholic Church, the principal objectives of the Charity are.. Advancement of the Catholic Religion., Promotion of Catholic Teaching in the Diocese and beyond., Provision and care of Priests., and Maintenance of Churches, Presbyteries and Schools. 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 IPB21" 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 74 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. GOVERNANCE Good governance provides confident, transparent and strategic leadership to the Diocese in fulfilling its charitable objectives by creating a cullure wilh robust accountability, oversight and assurance in the delivery of those charitable objectives. 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 ofthe Trustee Board. There were four Trustee Board meetings during the financial year. Under Canon Law, the Trustee Board is the Di0￿san Finance Council. The Bishop of Leeds and the Vicars General are ex officio Directors of the Board. All other Directors are appointed for a temi of three years, which may be renewed, subject to performan￿ and review, for an additional terms of three years each. LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEE (continued) GOVERNANCE (continued} Directors are recruited from the Clergy and suitably qualified and experienced members of the wider Catholic community. The recruitment process follows safer recruitment practice, which includes a Disclosure and Barring Service (DBS) check. On their appointment, new Directors are provided wrth an induction programme. 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 work in Parishes and the role and functions of Curia departments. Directors regularly attend formal and informal training sessions. Following the appointment of seven new Directors in September 2023, in October 2024, Ihe Trustee established a working group to review the Board's performance. The process comprised an anonymous questionnaire to all Directors and Curia officials who regularly attend Board meetings. The working group also interviewed Curia heads of department and the Clerk to the Board. The working group will report its findings and recommendations to the September 2025 Trustee Board meeting. As disclosed in Note 10 to the Financial Statements, Directors do not re￿1ve 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 three principal sU￿cOmmitteeS'. Safe uardin Sub-committee The Safeguarding Sub-committee {SSCI consists of.. Directors Rev Mgr P Fisher Mr P McDermott (Chair) Mr L Corcoran Members West Yorkshire Police representative HM Prison and Probation Service representative Safeguarding Adults Services representative Safeguarding Children Services representative Independent safeguarding consultants Criminal, safeguarding and other legal specialists LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEE (continued) GOVERNANCE (continued} Education Sub-committee The Education Sub-committee (ESC} consists of-. Directors Mrs M Benton Mr L Kelly (Chair) Members Rev Mgr P Grogan (Episcopal Vicar for Education) Mr S Gregson Mrs M Morgan Finance Sub-committee The Finance Sub-committee IFSCI consists of.. Directors Rev Mgr P Fisher Rev Mgr A Summersgill (Chairl Mr W O'Neill Mr P Wilson Members Very Rev Canon G Kearney Very Rev Canon M Larkin Mr T Forbes Plannin and Review Grou A Planning and Review Group IPRG} supports the Moderator of the Curia in making and implementing operational decisions on the Diocese's finance, property and HR activities (including its trading subsidiary. Hinsley Properties Limited). The Planning and Review Group IPRG) consists of= Directors Rev Mgr A Summersgill (Chair) Rev Mgr P Fisher Mr W O'Neill and the Company Secretary, Mr J Moran. Reflecting Canon Law, this report separates the Charity's activities between Parishes and Curia. LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEE (continued) GOVERNANCE (continued} Parishes The Diocese is divided into distinct Parishes. Parish Priests are appointed by the Bishop to exercise pastoral care for the Parish community, which includes representing the Parish in all juridic affairs and ensuring that the Parish is administered in accordance with the norms of Canon Law, in fulfilment of the aims of the Charity. As encouraged by the "Directory for the Pastoral Ministry of Bishops" the Bishop, in consultation with Priests and the Lay Faithful, regularly reviews the Parish structure to ensure long-term pastoral sustainability. The Bishop undertakes "Parish Visitations" where hè 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 Finan￿ Councils (often known locally as the Parish Finance Committee} include Parishioners with knowledge and experience in finance, propety 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 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. Safeguarding Safeguarding of children, young people and adults at risk is fundamental to the Mission of the Diocese in all aspects of its ministry. Safeguarding is everyone's responsibility, and as such, all Clergy, employees and volunteers have a role lo play in ensuring that the Catholic Church is a safe place. Underpinning this are the DI0￿se,$ governance structures to ensure that there is appropriate oversight and delivery of effective safeguarding in line with Canon Law, Charity Law and national standards, policies and protocols. The Trustee is accountable for the Diocese's safeguarding of children, young people and adults at risk. The Safeguarding Sub-committee (SSC) is responsible to the Trustee to ensure that a culture of safeguarding peNades all areas of the DI0￿se,S Ministry. The SSC has oversight of the Safeguarding Team to ensure safeguarding is delivered effectively, and, where appropriate, to give advice and guidance on the management of individual cases and the strategic direction of safeguarding throughout the Diocese. LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEE (continued) GOVERNANCE (continued} Safeguarding (continued) In July 2024, the Diocese's safeguarding arrangements were audited by the Catholic Safeguarding Standards Agency's {CSSA). The CSSA granted an overall grading of"Results Being Achieved.. "al this time, following the impact of the Covid-19 pandemic and absen of a full-time permanent Safeguarding Coordinator in 2022123,. the Diocese have since committed to a rapid programme of improvements across all areas of Safeguarding in the last 12 months, which is reflected in the grades achieved. The Executive Summary of the CSSA'S report is available on the Diocese's website.. Diocese of Leeds Baseline Audit Re ort Executive Summa Safeguarding interventions and support servi￿$ continue to focus on responding to the needs of victims andlor survivors and, where necessary, taking prompt action to protect children, young people or adults who may be at risk. Multi-agency working is a priority for the safeguarding team, and there are established close working relationships with the Police, Probation Service and Social Care. The SSC was strengthened by recruiting a further 5 members in De￿mber 2024, enhancing the expertise of the group with current members from a variety of backgrounds, including the Police, Probation, children and adult services and Magistrates Court. It is essential that Safeguarding is embedded, promoted, and adhered to in all aspects of the life and ministry of the Church. The Diocese requires consistent training in safeguarding for Clergy, employees, and volunteers. The Diocese has supported 5 full day sessions of safeguarding training for the Clergy. At 31 March 2025, 940/0 of Clergy had received their training compared lo a CSSA target of 95D/o. The roll out of training for volunteers has been identified as a challenge and the Safeguarding Team works with Parishes to identify training needs by monitoring the uptake and completion of modules on the CSSA Leaming Portal. LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEE (continued) GOVERNANCE (continued} Safeguarding (continued) The Safeguarding Team works closely with Parishes on the safer recruitment of adults whose role and responsibilities include contact with children, young people and adults al risk. The Safeguarding Team implements all statutory guidance from the CSSA and Disclosure and Barring Service (DBS), which ensures that 3-year rechecks for all are completed. The Diocese has a total of 2,096 DBS checks of which 1,786 are valid within the 3-year check remit. 136 are overdue, and 174 are in progress. In the year ended 31 March 2025 the Safeguarding Team completed 605 (2024.. 803) DBS checks with a further 107 DBS checks in progress. In February 2025 the Diocese held its first Safeguarding Conference with a focus on victims and suNivors. Bishop Marcus is very grateful to the speakers from the Comboni SuNivors Group, The Hydrant Programme, Dementia Awareness, and the personal perspective from an offender currently receiving support from the Safeguarding Team. Feedback from the delegates at the conference was extremely positive. After the year-end, 20 May 2025 was a national day of prayer for survivors of abuse. Bishop Marcus presided over a special Liturgy at Leeds Cathedral during which he solemnly blessed a permanent memorial to victims and survivors of abuse, an Icon of St Raphael the Archangel, to encourage prayer for the healing of all those who have suffered from all forms of abuse as hildren or adults.. "It is an opportunity to reflect on the impact of abuse on individuals, their families and friends, and the Gommunities of which they are part." Bishop Marcus and the Directors are grateful to Parish Safeguarding Representatives for the essential role they play in delivering the DI0￿se,S commitment to safeguarding. The Safeguarding Team can be contacted on 0113 2618046 or by email at safeguarding@dioceseofleeds.org.uk LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEE (continued) GOVERNANCE (continued} Education Essential to fulfilling the Diocese's Mission and therefore a principal objective of the Charity, 'Promotion of Catholic Teaching in the Diocese and beyond" is the role of the Vicariate for Education in delivering faith formation in Schools, Colleges and Parishes. The Education Sub- Committee {ESCI is responsible to the Trustee to monilor and provide strategic support lo the Vicariale for Education by.. Catholic Education in Schools and Colle es Advising on significant changes in legislation which impact on Catholic Education.. through the Vision for Catholic Education in the Diocese, overseeing the development of Catholic Education Trusts ICETS) and collaboration between them., and fostering high-quality governance and leadership and best practice in all Schools and colleges. Faith Formation Lifelon Reviewing the effectiveness of the Vicariate for Education's initiatives and support for Deaneries and Parishes., overseeing the Diocesan programme of accredited courses and developing formation resources for liturgical seasons across the Church's year., ensuring that the Diocese is represènted at local, national and international evangelisation forums., and ensuring that high-quality Sacramental Resources are available to support Catechesis in our Parishes. Youth Formation Ensuring that the Diocese is engaged in local, national and international youth residentials, day pilgrimages and other youth events., collaborating with 'The Twelve, (the Bishop's Youth Leadership Team) as a voice for young people., and supporting training, development and networks for Lay Chaplains in Schools across the DI0￿Se. LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEE (continued) GOVERNANCE (continued} Finance Good stewardship is integral to the Mission of the Diocese, and the Finance SulFCommittee (FSCI 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. The FSC meets monthly and advises the Trustee Board on property acquisltions and disposals, significant capital projects, and propety 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 intemal financial reporting systems and processes provide assurances to the Trustee, Curia Senior Management, Parish Priests and Parish Finan￿ Committees on the integrity of the financial aGGounting and governan￿ 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-reGurring costs typically associated with the repairs and Maintenan￿ or upgrade of Parish property. A key component of this work is identifying grant funding opportunities. Planning and Review Group The Planning and Review Group (PRGI is responsible to the Trustee for facililaling and steering the development of the Diocese's property and finance strategy. The PRG has oversight and provides direction on.. The Di0￿Se,$ strategy and planning so that it is appropriate to its Mission., trading Performan￿ of the Charity's trading subsidiary, Hinsley Properties Limited., the efficient management of the Diocese's land and buildings portfolio., the Diocese's Risk Register., and the Diocese's Human Resources policies, processes and praCti￿S. Risk Management The Trustee's Risk Register is reviewed quarterly. Risks are classified as strategic, operational andlor financial. Key risks are considered to be the reputation of the Di0￿se, Mass attendance, levels of offertory giving, the number of Priests in active ministry and the age profile of parish properties. The Truslee implements policies and procedures to mitigate or minimise these risks and monitors their effectiveness. LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEE (continued) GOVERNANCE (continued} 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 practi￿ is maintained throughout the Diocese in its processes and procedures. The day-t¢>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 il 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 {PATI and oversight of Fire Risk Assessments. An e-learning Health and Safely training package promoted by the Diocese's insurance advisors, Catholic Insurance SeNices Limited (CISI, was launched in 2024 to Clergy and Employees. During the year this online e-learning package has been extended to include volunteers in a group setting. Fundraising The majority of funding is received from Parishioners principally Ihrough the weekly Offertory collection, planned-giving (standing orders), special collections and fundraising activities. Bishop Marcus and the Directors express their sincere gratitude for the continuing generosity of Parishioners when there are ongoing pressures on household budgets. The Di0￿Se follows the Fundraising Regulator's Code of Fundraising Practice. The Diocese does not employ outside agencies to raise funds. In the current year one complaint was received in respect of fundraising12024'. none). Data Protection The Diocese takes seriously its legal and moral obligations for Data Protection. The Diocese has a dedicated Data Protection OffI￿r (DPOI who provides guidan￿ 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.or .ukl rivac -notice1. The DPO attends regulartraining sessions and is a member ofthe Church's national forum to share best practice. During the year ended 31 March 2025 no data breaches were reported to the Information Commissioner's Office (ICO} 12024.. none), and no Data Subject Access Requests {DSAR) were received {2024.' one). 10 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEE (continued) GOVERNANCE (continued} Volunteering Volunteers (whose roles are a public benefit as articulated in the Charity's principal objectives) play a ￿ntral role in fulfilling the Mission of the Church in the Di0￿se. Parish volunteers are involved in all aspects of the spiritual, pastoral and social life of their Parish communities. Volunteers serve in a variety of roles, including as Catechisls, 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 ISVPI, CAFOD or Catholic Care. Parish Safeguarding Representatives work with the 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. Volunteers working in Diocesan agencies such as the Justice and Peace Commission and Sl Patrick's Mission provide a vital contribution to supporting the most disadvantaged members of society throughout the DI0￿Se, 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. Across the Diocese, there are more than 1,200 volunteers providing an estimated 15,000 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 £12.60 per hour12024'. £12.00 per hour) would suggest a value of at least £189k {2024.' £156k) per annum. 11 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 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 explore the Faith further. Typically, this includes residential retreats, courses such as the Rite of Christian Initiation of Adults (RCIAI, Alpha in a Catholic Context or the Sycamore Programme. The Pastoral Statistics from October 2024 indicate that 1,451 (October 2023.. 1,5361 individuals were baptised, of whom 191 (October 2023.. 1421 were over 7 years of age. In the same period, a further 95 (October 2023.. 72) were received into the Catholic Church. Within our Diocese, the Afro-caribbean, Eritrean, Hungarian, Italian, Lithuanian, Polish, Syro- Malabar and Ukrainian Chaplaincies complement Parish life, 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 pla￿ 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 19,922 (October 2023.. 19,796) in the annual attendance count in October 2024. This represents an increase of 0.6°A {2023.' 9.3°A} compared to the prior year. The Church's rich liturgical traditions are expressed publicly every time Mass or other Liturgies are celebrated. In July 2024, Leeds Cathedral celebrated the Centenary of its Consecration wilh programme of events including a Novena of Prayer, Solemn High Mass followed by a Civic Reception and a celebratory con￿rt. The Batley Torchlight Procession is a well-attended annual event. Annual Diocesan Pilgrimage Walks, co-ordinated 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 and the Pilgrimage Walk for Vocations "In Father Brown's Footsteps." Further "green" walking pilgrimages feature in the 2025 Jubilee Year with its theme "Pilgrims of Hope.. In preparation for the Jubilee Year of Hope, in September 2024 a delegation from the Diocese attended the National Eucharistic Congress {Adoremusl event at St Mary's College, Oscott. For the Holy Year, Bishop Marcus has also designated 10 churches and all Prison Chapels across the Diocese as Jubilee Pilgrimage Churches. 12 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEE (continued) ACHIEVEMENTS AND PERFORMANCE {continued) 1. Advancement of the Catholic Religion (continued) Parishes are engaged in local initiatives with other charitable organisations with objectives compatible with the Charity. Parish Centres are used by members of the wider communities in which they are based, acting as venues for youth groups, uniformed organisations and other community organisations. Parishes either organise or work with other charities in running food banks, lunch clubs, warm spaces and counselling seNices. Financial support to these organisations is provided through local second collections and Parish fundraising events and activities. Catholic Care (a Diocesan charity) coordinates the work of Caritas Leeds. Caritas Leeds (a non- Servi￿ provider agency} provides 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 is excellently pla￿d to assist the Bishop, Clergy, religious and lay faithful of the Diocese to put many aspects of Catholic Social Teaching into practice. Catholic Care offers guidance to parish groups and introduced a 'toolkit' in early 2025, 'Su ortin arishes across the Diocese,, covering the different stages involved in delivering new activities and charitable initiatives. St Patrick's Mission is a ￿ntre for Calholic 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.fa￿book.cOM/stP1oFriar l}. On 1 February 2025, to highlight the Christian culture of Bradford during the UK City of Culture year, the Friars organised a procession through the ￿ntre of Bradford in honour of Bradford's Patron Saint, St Blaise. Parish Second Collections are disclosed as a Restricted Fund in Note 19{b} to the Financial Statements. In the year ended 31 March 2025 £467k12024.' £429k} was re￿iVed to support the work of the Church.. Internationally {Peter's Pen￿, Mission (World Mission Sunday))., Nationally (Stella Maris, Racial Justi￿, Day for Life, the Catholic Education servi￿ and Catholic Communications)., and Within the Diocese (Poor Mission Fund, Catholic Care, Peru Mission, Priests Retirement Fund, Priests Training Fund, Lourdes Fund, Youth servI￿s and Home Mission Sunday). Parishes also support the Church's international outreach work in countries such as Ethiopia, India, Kenya, Pakistan and Zimbabwe. 13 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEE (continued) ACHIEVEMENTS AND PERFORMANCE {continued) 2. Promotion of Catholic Teaching Vicariale for Education 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 Di0￿Se has close partnerships with Leeds Trinity University. The Diocese's five Catholic Mulli-Academy Trusts (CMATS) continue to support Schools. Each CMAT has an established central team lo support Schools in School improvement, finance, HR. estates management and governance, with CMATS sharing best practice. At 31 March 2025, 82 per cent of DI0￿$an Schools had converted from Voluntary-Aided Schools to Academy Status and are members of a CMAT. The Wicariate for Education is proactive in its collaboration wilh 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 Wicar for Education recognises the commitment and dedication of our volunteers in their essential support for 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 Catholic Life and Mission is ￿ntral to all our Schools and the provision of a Religious Education (RE} syllabus. Key to the provision of an inspiring RE syllabus is the Continuous Professional Development ICPD) for RE teachers, in partnership with RE Today. All Schools are regularly inspected in line with the National Catholic School Inspection Framework. The National Catholic Leadership Programme enables the ViGariate for Education lo continually assess the potential impact recruitment challenges place on Catholic leadership and gives prospective headieachers a full insight into leadership in Catholic Schools. It has proven to lead to the successful appointment of headteachers. The Youth Team complements the work in our Schools with a programme of well-established events and collaborations throughout the year. 14 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEE (continued) ACHIEVEMENTS AND PERFORMANCE {continued) 2. Promotion of Catholic Teaching (continued) Vicariale for Education continued At a national level, the Youth Team works with the Catholic Youth Ministry Federation (CYMFedl. The Lourdes Pilgrimage and Summer Camp at Savio House Retreat Centre, Cheshire are well established annual events. The Youth Team continues to support the work of Faith in Action across Schools and parishes. Monthly "Revelation" sessions at Hinsley Hall provide an opportunity for young people in School years 8 to 13 to come together in faith to explore the suc￿SseS and challenges they face and to have fun. The Youth Team has a regular programme of events for'The Twelve. including developing their leadership role and their work with Caritas Leeds and Leeds Citizens. As part of their engagement in Schools, Ihe Youth Team designed a canvas with the Jubilee logo to act as a focal point as it pilgrimages through the Diocese to all Schools celebrating the Jubilee Year, through liturgy, prayer and community action. Diocese of Leeds Music Diocese of Leeds Music complements the work of the Vicariale for Education in our Catholic Schools and CMATS through its Schools Singing Programme {SSPI and its Keyboard Studies Programme IKSP). 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. Diocese of Leeds Music's strategic impact is measured in terms of evangelisation (the participation of young people in Parish life and whole-school acts of worship) and inclusion (many Diocesan Schools are within communities which rank among the most deprived 100/0 nationally (Index of Multiple Deprivation 20191). 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 the children and young people in these communities. Children participate in a variety of liturgical celebrations, concerts and musical festivals. Diocese of Leeds Music w0￿S closely with the Diocesan Director of Communications, contributing to the Catholic vol￿ and BBC broadcasts by the Leeds Cathedral Choir, including the BBC Radio 4 broadcast of Midnight Mass al Christmas 2024. An episode of BBC Radio 4 Sunday Worship for Pentecost 2025 involved over 600 children from the DI0￿se,S Schools and choirs singing Pilgrims of Hope, the official hymn of the Year of Jubilee. 15 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEE (continued) ACHIEVEMENTS AND PERFORMANCE {continued) Diocese of Leeds Music continued Schools Sin in Pro ramme ssp The SSP is a funding collaboration be￿een Diocese of Leeds Music, Parishes and Schools. The SSP delivers weekly training in liturgical music to approximately 6,800 children in 75 Schools and colleges. A generous grant from the Vinehill Trust has enabled the SSP to significantly expand its work in re￿nt years, supporting additional full-time choral directors. The SSP runs 18 boys, and girls, after-school choirs across the Diocese, which complement the weekly whole-class singing sessions, and includes seven choirs at Leeds Cathedral. Choirs sing at Masses and other liturgies at Leeds Cathedral and in Parishes across the Diocese. Partnerships with Gabrieli and The Sixteen, two internationally renowned choral ensembles, give children from diverse backgrounds the opportunity to sing in public COn￿rtS, and they act as role models for careers in the arts. Diocese of Leeds Music also hosted groups which come to study and work with the SSP, including visits from Vanderbilt University and the University of Texas at El Paso. During the year, a new Community Choir for adults was launched with 50 members. Ke board Studies Pro ramme KSP The KSP enables approximately 1.500 children to leam to read music while playing the melodica, low-cost, durable, and portable instrument. This provides a pathway for lessons on related keyboard instruments.. classical accordion, piano and organ. Generous support from an individual's bursary fund, local trusts and foundations enables children, irrespective of their families, resources, to participate in all stages of the KSP. The seventh Leeds International Organ Festival included recitalists Kamil Mika, Alessandro Bianchi, Graham Barber and Friedhelm Flamme, alongside Di0￿Se of Leeds Music staff and scholars. National Schools Sin Pro ramme NSSP NSSP is in its fifth year of development. Grants from the Vinehill Trust and Benefact Trust provide seed funding for other Catholic dioceses, Anglican cathedrals and an independent School to establish their own SSP. Senior members of Diocese of Leeds Music staff provide support and advice to these organisations in their SSP development. 16 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEE (continued) ACHIEVEMENTS AND PERFORMANCE {continued) 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 £720k (2024.. £776kl in allowan￿$ and offerings, £376k {2024.' £360kl in housekeeping costs and £118k (2024.. 108k) in travel expenses to Priests. Key to sustaining the advan￿ment 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 dis￿rning 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 two {2024'. three) men training for the Priesthood. In the year ended 31 March 2025, the Priests, Training Fund income of £22k {2024.' £20kl was received from the Parish Second Collection towards seminary fees and living allowances expenditure of £69k (2024. £95kl. 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. The Diocese supports Priests who have retired from active ministry by providing appropriate living accommodation and an allowance lo supplement their statutory pensions. The Diocese has a collaboration agreement with Catholic Care, a registered charity las disclosed in note 21 to the Financial Statements) lo provide welfare and olher practical support lo relired 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 seNice, tailored to meet the changing needs of each retired Priest. In the year ended 31 March 2025 income to the Priest's Retirement Fund consists principally of Dividend Income of £110k12024.' £118K) and donations from the Second Collection of £22k (2024.. £18kl. This supported grant payments of £357k12024'. £332k) to retired Priests. 17 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEE (continued) ACHIEVEMENTS AND PERFORMANCE {continued) 3. Provision and Care of Priests Permanent Deacons The work of the Bishop and Priests is supported by men ordained to the Permanent Diaconate. The DI0￿Se currently has 22 Permanent Deacons {2024.' 22). There are four (2024.. three) candidates in formation for Ordination. Permanent Deacons are ordained for a ministry of servi 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, governan￿ and administrative activities, taking into consideration their family and career responsibilities. 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 is provided by The Northem Diaconal Formation Partnership (a Charitable Incorporated Organisation).. Each participating Diocese appoints a Trustee and pays an annual subscription based on its number of students. A significant proportion of the fomiation of the students lakes place at the Diocesan Pastoral and Conference Centre, Hinsley Hall. 18 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 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 ils wider community. Over 90 per ￿nt of the buildings owned by Parishes are more than 50 years old. Collectively, Parishes spent £1,847k (2024.. £1,994k) on refurbishments, maintenance and repairs to churches, presbyteries and parish halls during the year. This level of investment equates to 25 per cent {2024.' 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 £412k {2024'. £2,243kl was invested in churches. The Property Department works with the Historic Churches Committee {HCCI {a statutory body established under the Ecclesiastical Exemption {Listed Buildings and ConseNation 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 (AAHI 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. The Curia makes appropriate applications, on behalf of Parishes, to the Listed Places of Worship ILPWI Grant Scheme. This Scheme provides grants for qualifying expenditure and capital improvements to our listed cathedral, churches and chapels. In the year ended 31 March 2025 grants received totalled £61 k {2024.' £182k}. The Trustee is very grateful to the National Lottery Awards for All scheme for £120k benefiting community projects in six parishes and to the Benefacl Trust for grants totalling £69k for projects in thirteen parishes. The Vinehill Trust made a grant of £59k to fund the replacement of an essential component in the Organ at Leeds Cathedral. The Sir George Martin Trust and Laing Family Trusts made grants of £3k each towards parish projects. In its collaboration with Parishes and Schools, the Curia is supported by a dedicated team of external property professionals, including experienced Architects and Chartered SuNeyors. 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 ac￿ssIbIlitY needs of parishioners and pupils wilh disabilities. 19 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEE (continued) ACHIEVEMENTS AND PERFORMANCE {continued) 4. Maintenance of Property (continued) SUSTAINABILITY AND NET CARBON ZERO The Diocese's Environmental Policy Statement based on Pope Francis encyclical letter, 'Laudato Si,: On Care for Our Common Home. details the Diocese's commitment to reducing its carbon footprint and the environmental impact in its use of water, waste, travel and other activities and materials with associated emissions. The Diocese's Laudato Si, Sustainability Management Group, {Chaired by Rev Mgr A Summersgilll consists of members oflhe Diocese's Justice and Peace Commission and Curia Officers, and meets regularly to develop a sustainability programme for the Diocese in the medium term. A key component to achieving net zero carbon use is the procurement ofthe Diocese's energy. In the year ended 31 March 2025, the Diocese spent £1,436k (2024.. £1,585k) on its gas and electricity supplies which it purchases from Inter-Diocesan Fuel Management Limited IIFMI. As disclosed in note 14lb) to the Financial Statements, the Diocese with other Catholic Dioceses in Great Britain owns 4.30/0 of the Ordinary shares in the Company. IFM'S electricity contrads have been from renewable (hydro or windl sources for over 25 years. The current electricity contract runs to July 2025. IFM currently has an 880h renewable source agreement with Engle. IFM are developing a Digital Data Management system which will enable the Diocese to report on its energy supply carbon footprint. 20 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 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 2025. 202S £'ooo 2024 £'ooo Parishès Income Expenditure 8,123 18,0151 8,616 18,0691 547 108 Diowan As8es$ment Tran$lers 19971 1661 11,0291 Deficit 19551 15431 Net GainsllLossesl on the Sale and Revaluation of Assets Decrease in Rv3erves 12,0041 12,5471 19511 Curia Income DIO￿aN Assessment Transfers Expenditure 4,597 997 66 16,9741 4,456 1,029 61 16,3711 D•fieit 11,3141 18251 Nel Gain5 on the Sale and ol Assets (Decreasey Increase in Reserves Revaluab"on 2SI 11,0631 876 51 Total Group Docr•as& In Ras•N•s 12,0141 12,4961 Details of the income and expenditure are disclosed in the Consolidated Statements of Financial Activities on pages 31 and 32. The Diocese continues to comply with current statutory requirements and its governing documents. The total income for the Diocese in the year was £12,720k (2024.. £13,072k} a decrease of 3 per cent12024.' increase of 8 per cent) compared with the prior year. The largest individual component of income is from Offertories amounting to £4,235k {2024.' £4,293k), a decrease of 1 per cent12024.' an increase of 6 per cent) compared with the prior year. Income from Donations, Grfts and Legacies, which is less predictable, was £1,028k in the year compared to £1,007k in the prior year. The total expenditure in the year was £14,989k (2024.. £14,440k} an increase of £549k compared with the prior year. 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 21 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEE (continued) FINANCIAL REVIEW Icontinuedl Statements. Expenditure continues to be tightly managed and remains focused on delivering the Diocese's Charitable Objectives. The operational deficit in the year was £2,269k (2024. deficit £1,368k) and Net Resources decreased in the year by £2,014k (2024.. a decrease of £2,496k}. As disclosed in Note 1 to the Financial Statements (Accounting Policies 1.12), occupied school properties are valued at £Nil 12024.. £Nill as the Directors consider these properties to be inalienable. At 31 March 2025, the Diocese reported a net cash position of £1,569k12024'. £1,610k). The Consolidated Cash Flow Statement on page 34 reports a net decrease in cash and cash equivalents of £41 k {2024'. decrease of £1,348k}, a net cash oufflow from Operating Activities of £2,778k {2024'. oufflow £1,684kl and net cash inflow from Investing Activities £2,737k (2024.. inflow £336k). As disclosed in Note 16 lo the Financial Slatements £1,800k (2024.. £2,765kl of cash balan￿$ are held in respect of the School Building Programme. Investment Policy and Perfonnance The Trust Deed authorises the Trustee to make and hold investmenls using Ihe general funds ofthe 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 porttolio 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 2025 was £10,150k 12024.. £13,454k). The movements are analysed in Note 14 to the Financial statements. The main components comprise investment income generated of £255k {2024'. £328kl, cash withdrawn of £3,600k {2024.' £1,700) and profits arising on the sale of investments of £977k12024.' £496kl. The unrealised loss on revaluation of £896k (2024.. gain £380kl reflects market volatilities due to the wars in Ukraine and the Middle East and economic uncertainty due to major changes in US trade policy. 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 sale. 22 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEE (continued) FINANCIAL REVIEW Icontinuedl Reserves Policy The Total Funds of the Diocese al 31 March 2025 were £52,529k12024.' £54,543k) of which £35,953k {2024.' £36,904kl relates to Parishes and £16,576k (2024.. £17,639k} relates to thè 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 £3,747k forlhe year ended 31 March 2025 (2024.. £3,610k) 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 2025, Free Reserves were £9,376k (2024. £12,303kl and represented seven months {2024.' ten months) of Total Operating Expenditure. Free Reserves include Investment Properties of £9,665k {2024.' £9,515k). The Directors keep under review the Diocese's Free Reserves to ensure that the Diocese can fulfil its immediate financial obligations and commitments and 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 include £1,032k (2024.. £1,030k) in Permanent Endowment Funds and £9,142k (2024.. £8,641 k} in Restricted Funds. The allocation of Pemianent Endowment Funds and Restricted Funds is detemiined by the wishes of the donors and are disclosed respectively in Notes 19lb) and 19lc) to the Financial Statements. Unrestricted Funds of £42,355k 12024.. £44,872k) comprise Designated Funds in Parishes of£34,947k12024.' £35,968k) and General Funds in the Curia of £7,408k (2024.. £8,904k). 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 DI0￿$an 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 14lb) to the Financial Statements, during the year the company generated a turnover of £1,059k12024'. £974kl and reported an operating loss of £215k {2024.' loss £293kl. The retained loss for the year of £215k {2024. £293k) has been taken to the consolidated unrestricted reseNes. 23 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEE (continued) FINANCIAL REVIEW Icontinuedl Diocesan Strategy The Trustee commenced a comprehensive strategy programme in April 2024 which consists ofthree main phases.. Purpose Strategy Execution The Purpose considers the Charity's Mission (its four principal objectives and their public benefit), Values (how the Charity engages with its beneficiaries and society as a whole, and Vision (how the Charity aspires to achieve its Mission in the medium and long term). The Strategy {how the Purpose with be achieved by identifying key drivers and enablers) and Execution (what the Charity needs to do, measuring its success and its effective communication) phases continue to be developed. The resulting Strategy document will be presented to the Trustee at its September 2025 Board meeting. Financial Strategy The Charity's Financial Strategy keeps under constant review other income streams to support the generosity of Parishioners through their Offertory giving and their Parish fundraising initiatives. Grant fundraising supports Parish community, restoration and capital projects and the work of Curia departments in delivering the Charity's Mission. The Trustee keeps under constant review the potential rental income from its investment properties and where this is uneconomic considers appropriate investment propety disposals. Investment Funds are managed for income and capital growth in line with the Charity's ethical investment policy. The Trustee's eighteen-month cash flow forecast includes 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 deliver its Charitable Objectives. Approved by the Trustee on 24 June 2025 and signed on its behalf by.. Rt Rev M Stock Bishop of Leeds Director 24 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 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.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities Statement of Recommended Practice IFRS 102)- make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the Financial Statements., and prepare the Financial Statements on the going concern basis, unless il is inappropriate to presume that the Charitable Group will continue in business. 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 hen￿ for taking reasonable steps for the prevention and detection of fraud and other irregularilies. The Trustee is responsible for the Maintenan￿ 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. 25 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 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 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charrty 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.. give a true and fair view of the state of the group and parent charity's affairs as at 31 March 2025 and of the group's and the parent charity's incoming resources and application of resources for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for Opinion We conducted our audit in accordance with International Standards on Auditing IUKI {ISAs (UKI) 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. 26 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEE OF THE LEEDS DIOCESAN TRUST (continued) Conclusions relating to Going Concern In auditing the financial statements, we have concluded that the Truslee'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 con￿rn for a period of at least elve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustee with respect to going concem are described in the relevant sections of this report. Other Information The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The Trustee is responsible for the other infomation. Our opinion on the financial statements does not cover the other information and, ex￿pt to the extent othe￿iSe explicitly stated in our report, we do not express any fomi of assurance Conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other infomation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or olhewise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemine 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 lo 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.. the information given in the Truslee's Annual Report is inconsistent in any malerial respect with the financial statements., or the parent charity has not kept sufficient accounting records., or the parent charity's financial statements are not in agreement with the accounting records and returns., or we have not received all the information and explanations we require for our audit. 27 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEE OF THE LEEDS DIOCESAN TRUST (continued) Responsibilities of the Trustee As explained more fully in the Trustee's Responsibilities Statement set out on page 25, 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 ne￿$Sary 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. Auditor's responsibilities for the Audit of the Financial Statements We have been appointed as auditors under the Charities Act 2011 and report in accordancè 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 detert 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 Influen￿ 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 misslatemenls 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. 28 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEE OF THE LEEDS DIOCESAN TRUST (continued) Auditor's responsibilities for the Audit of the Financial Statements Icontinuedl 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 guidan￿ issued by the Charity Commission for England and Wales. Audit response to risks identified= We considered the extent of compliance wrth 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 charitys policies and procedures for compliance with laws and regulations with members of management responsible for ompliance. 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 instan￿$ 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 non- compliance 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 Gon￿alment 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.or .uklauditorsres onsibilities. This description forms part of our auditor's report. 29 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 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 slate to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not aC￿pt 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. S.fv] LLe Saffery LLP Chartered Accountants and Statutory Auditors 10 Wellington Place Leeds LS14AP 26 June 2025 Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006 30 c C* C* O* p tr- 111 C* E Z -00 l!IiE I o c u o LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 CONSOLIDATED BALANCE SHEET AND CHARITY BALANCE SHEET Grou 2025 2024 £'OOO £'CK)O Cha 2025 2024 £'ooo £'ooo Note Fixed Assets Tangible Assets Investment Properties Inveshents Total Fixed Assets 12 32,979 32.569 13 9,665 9,515 14 10,150 13,454 52,794 55.538 31,821 31,384 8,315 8,315 12,702 15,021 52,838 54,720 Current Assets Inventories Debt(Ks Cash al Bank and In Hand Total Current Assets 12 10 1,733 1,294 1,569 1,610 3 314 2.914 15 1,657 2,015 1,506 1,574 3 163 3,589 Current Liabilities Creditors and ￿Crlled Expenses Creditors: knunts falling due within one year 16 3,579 3,S79 13.909 13.9091 3,472 3,472 13,7e61 13,7eei Net Current Llabllltles 12651 19951 13091 11771 Totsl Assets less Current LlabSlltle$ 52,529 54,543 52,529 54,543 Total N8t *ssots 52,529 54,543 52,529 54,543 The Funds of the Charity. Unrestricted Funds Designated Funds General Funds Restricted Funds Pemanenl Endowments 19 34,947 35,968 19 7,408 8,904 19 9,142 8.641 19 1,032 1,030 34,947 35,968 7,408 8,904 9,142 8,641 1,032 1,030 Total Charity Funds 52,529 54.543 52,529 54,543 The Notes from page 35 to 60 form part of these Financial Statements. These Financial Statements were approved and authorised by the Directors on 24 June 2025 and signed on their behalf by.. Rt Rev M Stock Bishop of Leeds Director 33 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 CONSOLIDATED CASH FLOW STATEMENT 2025 £'ooo 2024 £'ooo Cash Flows from Operating ktivities Net ￿vement in Funds djusled for.. Depreciation Charges IRevalualionlllmpairmenl of Investment Properties Gains on Disposal of Investment Properties Gain on Disposal of Fixed Assets Nel Gains on Investments Investment Income IlncreasellDecrease in Debtors D￿rease in Creditors Increase in Inventories Other non cash Expenditure Net Cash used in Operating ￿tIvItieS {2,014} 12,4961 761 1150} 715 2,068 1641 115} 181} (566} (439} {330} 12} 67 {2.778} 18761 16431 310 17701 121 74 11,6841 Cash Flow5 from Investlng P£tlvltles Proceeds from the Disposal of Fixed Asset Investments Payments lo Acquire Fixed Asset Investments Investment Properties Income Proceeds from the Sale of Tangible Fixed Assets Proceeds from the sa￿ of Investment Properties Payments lo Acquire Tangible Fixed Assets Net Cash provided by Investing ktivities 3,600 127} 1,700 315 15 955 12,6341 336 1,171} 2.737 Net Decrease in Cash and Cash Equivalents Cash and Cash Equiwalents at the beginning of year Cash and Cash Equivalents at the end of year 141} 1,610 1,569 11,3481 2,958 1,610 ANALYSIS OF NET CASH 2025 Moven*nt £'ooo £'ooo 1.569 141) 2024 ￿bVeMenI £'ooo £'ooo 1,610 11,3481 2023 £'ooo 2,958 Cash al Bank and in Hand The Notes from pages 35 to 60 form part oflhese Financial Statements. 34 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS ACCOUNTING POLICIES Basis of Accounting These Financial Statements are prepared on a going concern basis, under the historical cost convenlion as modified by the revaluation of certain fixed assels 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 Steding (GBP) which is the functional currency of the entity. Monetary amounts in these Financial Statements are rounded to the nearest thousand pounds l£'OOOI. The Financial Statements have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities, in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic Ireland IFRS 1021 and the Charities Act 2011 and UK Generally AC￿pted Accounting Practi￿. The Charity is a public benefit entity for the purposes of FRS 102. Going Concern The Directors have assessed whetherthe use ofthe 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 Ihe Group's forecasls 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 existen￿ for the foreseeable future. The Group therefore continues to adopt the going concern basis in preparing ils Financial Statements. 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 Limrted. 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. 35 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) ACCOUNTING POLICIES (continued) 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 thal the receipt is probable and the amount of the legacy receivable can be measured reliably. Vvhere entitlement to a legacy exists but there is uncertainty as to its receipt or the amount re￿1Vable, the details are disclosed as a contingent asset, if material, until the criteria for income recognition are met. Curial income includes income from servi￿$ 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. 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, or 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 ompliance with constitutional and statutory requirements, including legal fees. 36 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) ACCOUNTING POLICIES (continued) Commitments Commitments made by the Trustee that are legally binding have been accrued. Those that are not legally binding have nol been charged in the Financial Statements but have been disclosed in the Notes to the Financial Statements. Grants Payable Discretionary grants are paid as a contribution to the running costs of organisations whose objectives are consistenl wilh those of the Charity. Grants are paid on an ackhoc 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. Investments Investments are a fomi 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 lax recoverable is credited to income on an accruals basis. Investments in subsidiaries are accounted for at cost less impairment in the individual Financial Statements. 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. 37 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 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.. Properties acquired on or before 31 March 1997 were rApitslised at 10 percent of their insurance value al that date. Properties acquired Sin￿ 31 March 1997 are capitalised at cost. All Parish buildings are depreciated on a straight-line basis of 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 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 lo 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 ofvoluntary 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. 38 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 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 objectives at the Balance Sheet date, and where a 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 re￿ived, and contributions through the Voluntary Contributions Scheme IVCSI, are netted off against total costs so that only the residual cost is included in the Financial Statements. As an agent, the DI0￿Se is bound by agreement with each individual school and, therefore, has no discretion over the use of these funds. These agency funds are carried fotward within cash and creditors in the Balance Sheet. 1.1 S 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. Thé 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. 39 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 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 lo make ￿rtain 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 accrued income with respect to Legacies, Grants, and Gifl Aid Tax Recoverable. 40 O C) a ¢¥* * co<0 <0 5122 kiliii ! 11115111151 1 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) INCOME FROM CHARITABLE ACTIVITIES Income from charitable activities consists of.. 2025 £'ooo 355 201 185 41 278 157 2024 £'ooo 314 School Contribution Scheme sic Contribution Scheme Youth Pl￿riMageS Conference Fees Cemetery Fees Other 141 291 178 Total 1,217 1,156 INVESTMENT INCOME 2025 Unrestricted Restricted Permanent Funds Funds Endowment Funds £'ooo Totsl Funds £'ooo £000 £000 kncome arising from.. knveslrnenl Properties "sled knveslrnents 309 98 311 255 124 33 Total 407 126 33 2024 Unreslricled Restricted Permanent Fund Fund Endowment Fund £'(K)O Total Funds £'ooo £'O(KJ £'ooo kncome arising from.. knveslrnenl Properties sled knveslrnents 309 165 315 328 128 35 Total 474 134 35 643 TOTAL COST OF RAISING FUNDS The total cost of raising funds consists of.. 2025 £'ooo 2024 £'ooo 10 77 1,217 hteresl Payable hveslmenl Vanagemenl Fees Hinsley Properbes Limited Expenditure 68 1A24 Total 1,304 42 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) CHARITABLE EXPENDITURE 2025 irv6 of the Chari vancerrent Pr+Jn)Jtion of of Catholic Catholic T•a¢hlng £'ooo Care of Maintenance Prlfrsts of PropfrrUo8 £'ooo Totsl Parl8ho8 Grants P8yab other Direct Costs Support Costs 1,396 228 41 1,628 3,810 602 6,875 1,094 T¢knl 1,670 47 1,886 4A12 8,015 Curia Grants P8yab Oiher Direct Costs Support CcK8ts 125 385 140 428 1,709 S74 371 425 214 924 224 1,152 Totsl $50 2,711 1,Q10 1,057 4428 Total Grants P8y8b Qther Dire¢l Costs Support Costs 428 1,750 371 2,033 472 970 10,227 1,781 368 826 Totsl 2,320 2,75B 2,896 5N69 13,443 2024 ims ofthe Chariiy Allwdncemenl of Promotion of C8lhd catholc RelIg￿)n Teaching £000 Care of PrEsts [￿l￿tell8n¢e of Properties £'ooo Total £'ooo 75 6,972 1,022 Parishes Grants P8yab 0th6r Dir6Ct Costs Support Costs 75 1,194 55 1,767 256 3.956 574 Total fj3 Curia Grants P8yab other Direct Costs Support Costs 124 397 142 343 1.703 557 348 453 218 815 3,168 615 167 Toial 2.603 1.019 782 5,oe7 Total Grants P8yab Other Direct Costs Support Costs 343 1.758 248 2,220 474 890 10,140 2,106 1,$91 326 4.571 741 Total 2,116 3.042 5.312 13,136 Support Costs have been apportioned across the four aims of the Charity by pr&rating those costs to the grants payable and other direct costs of the individual aims. Included in Support Costs are Governance Costs of £24k12024'. £24k). 43 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) ANALYSIS OF GRANTS PAYABLE 2025 Grants Pa ble to Institutions Individua15 £'ooo 2024 Total £'ooo 396 80 33 357 13 45 46 Total £'oc 310 97 National Schools Singing Programme PartiCiP8nts Catholic Tru51 for England and Wales Catholic Educats"on SeTrice PrEsts' Retirement Grants Seminaiian Giants Peru Mssion Local Organisations 396 357 13 332 17 26 75 370 970 890 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 3812024.. 39) grants given for the benefit of retired Priests amounting to £357k (2024.. £332k). CLERGY COSTS Clergy Alowances Parishes Curia £'ooo £'ooo 765 877 Total £'ooo 925 1,056 2025 2024 179 These allowances relate to Clergy in active ministry. EMPLOYMENT COSTS AND NUMBERS Staff costs comprise the following.. 2025 Curia and Parishe5 Subsidiary £'oDo £'ooo 697 2,153 27 209 12 196 736 2,558 2024 Total £'ooo 2,850 236 208 3,294 Total £,￿0 SaL8ries and Wages Employers, National Insurance Pension Cost5 Gross EMplOy7￿nt Costs 181 3,211 44 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) EMPLOYMENT COSTS AND NUMBERS (continued) Included in Curia Gross Employment Costs are £458k (2024.. £548k) in respect of Gross Employment Costs for Hinsley Properties Limited. During the year payments of £3k {2024.- £3k) were paid to two employees (2024.. two employees) in relation to redundancy payments. The number of employees who received a salary in excess of £60,000 per annum was as follows.. 2025 2024 £60,001 to £70,000 £70,001 to £80,000 £80.001 to £90,000 £90,IJ01 to £100,000 £100,001 to £110,000 Volunteers Central to the fulfilmenl of the Charity's Objectives is the role played by volunteers in ministries in the Parishes. There are more than 1,200 volunteers providing over 15,000 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 £12.60 (2024.. £12.00) per hour would suggest a value of at least £189k (2024.. £156k) per annum. Teachers, Pension Scheme TPS The Teachers, Pension Scheme ITPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers, Pension Scheme Regulations 2014. All teachers have the option to opt-out of the TPS following enrolment. The TPS is an unfunded scheme to which both the member and employer makes contributions, as a percentage of salary - these contributions are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliamenl. TPS Valuation The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Capl Directions 2014 published by HM Treasury every 4 years. The aim of the review is to ensure scheme costs are recognised and managed appropriately and the review specifies the level of future contributions. 45 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) EMPLOYMENT COSTS AND NUMBERS (continued) Teachers, Pension Scheme TPS continued Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2020. The valuation reportwas published by the Department for Education on 27 October 2023, with the SCAPE rate, set by HM Treasury, applying a notional investment retum based on 1.70/0 above the rate of CPI. The key elements ofthe valuation outcome are.. Employer contribution rates set at 28.680/0 of pensionable pay (including a 0.080/0 adminislration levy}. This is an increase of 5 /0 in employer contributions and the cost ontrol result is such that no change in member benefits is needed. Total scheme liabilities (pensions currently in payment and the estimated cost of future benefits) for service to the effective date of £262,000 million and notional assets (estimated future contributions together with the notional investments held at the valuation date) of £222,200 million, giving a notional past service deficit of £39,800 million The result of this valuation was implemented on 1 April 2024.The next valuation result is due to be implemented from 1 April 2027. Avera e Weekl Em ment Numbers The average weekly number of full-time and part-time employees is analysed as follows= Total Diocesan Erry)loyees Curia and Parishes Subsidiary 95 61 97 68 Total 156 165 2025 2024 Included in Curia employees are 2612023.. 261 staff employed by Hinsley Properties Limited. 46 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) 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 orlhe prior year. No reimbursement of expenses was paid to the Dirertors 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 £380k (2024.. £354kl, including employers, National Insurance Contributions of £35k12024'. £33k) and pension contributions of £13k {2024.' £12kl. 11. NET MOVEMENT IN FUNDS IN THE YEAR Movement in net funds in the year is stated after charging.. 2025 £'ooo 2024 £'ooo Audrtor's Remuneration - audf( services - other services Depreci3tion of Owned K8sets Operating Lease Renlals 23 23 761 40 715 40 47 ij T5 T5 ￿ C) LL LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) 13. INVESTMENT PROPERTIES Chari Curia Subsidiary Totsl £'ooo Group Totsl rooo Parishes £'ooo Total £'ooo Cost or valuation Al 1 WII 2024 Disposals Revaluations At 31 March 2025 3,750 8,315 1,2 9,515 150 1,350 150 9,665 3,750 8,31S Depreciation and 1mpalrn￿nts At 1 April 2024 and 31 March 2025 Net Book Value 31 March 2025 Net Book V8lue 1 Aoril 2024 3,750 3,750 4565 4,565 8,315 8,315 1.350 1,200 9.515 Inveslment Properties are valued on the basis of market value every five years. Investment Properties held to generale a rental inmme are valued on the basis of market value as defined in the RICS Valuation and Appraisal Manual (7 Edition). The last valuations were arried 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 31 March 2025 for the Subsidiary's Investment Properties. Investment Properties eamarked 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 inteNening 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 Artivities. 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 2025. 50 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) 14. INVESTMENTS al GROUP Listed Investments 2025 £'ooo 2024 £'ooo M)vement in Fixed Asset Investsnents.. Market value al 1 ￿ri1 Investment Income Net Unrealised ILossllGains on Revaluation Net Realised Gains in the Year Investment ￿Anagers, Costs Deducted from Investsnents Addib'on lo Investments Withdrawn from hvestments 13,454 255 1896} 977 {67} 27 13,600} 14,024 328 380 1741 11,7001 Market Value at 31 March 10,150 13,454 Anatysis of Wrkel Value of Investment by Type.. Equth'es Bonds Properties Aternalwe Investments Cash 6,330 1,860 244 1,074 642 8,580 1,959 248 1,686 981 Market Value at 31 Mar¢h 10,150 13,454 Analysis of ￿firket Value of Investments btheen those held wf(hin and outside the United Kingdom.. wrthin the United Kingdom Outside the United Kingdom 5,086 6,717 6,737 Market Value at 31 March 10.150 13,454 Ana￿51$ of Vdrkel Value by Fund.. Unrestricted Restr￿ted Permanent Endowment 4,318 4,800 1,032 6,985 5,439 1,030 Market Value at 31 March 10,150 13,454 Historic Cost of Investments 8,185 10,594 51 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) 14. INVESTMENTS Icontinuedl bl CHARITY The investments of the Charity comprise.. The investments of the Charty comprise.. 2025 £'ooo 10.150 2,552 2024 £'ooo 13,454 1,567 Listed Investments {see Note 14lal above) Investment in Subsidiary Companies 12,702 15,021 Investment in Subsidiary Companies Hinsley Properties Limited (company registration number 29740801 The Charity owns 100 per cent of the Ordinary share capital ofthe company. The investment in the company increased by £985k (2024.. £nil) in the year. The purchase of £1,200k12024'. £nil} Ordinary shares was offset by a provision of £215k {2024'. £293k). The company supports the Charity to deliver its principal objectives by managing the Diocesan Pastoral Centre al Hinsley Hall, the Curial offI￿S and an investment property, Cathedral Chambers. A summary of the company's audited trading results for the year ended 31 March 2025 is shown below.. 2025 £'ooo 1,059 {923) {461) 40 {365) 2024 £'ooo 974 {843} {384} (40} {293} Turnover Cost of Sales Pilministrakn've Expenses Rent paid to the Parent Undertaking Operating Loss for the Financial Year Revaluation of Investment Property 150 Loss for the Financial Year <215) {293} 52 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) 14. INVESTMENTS Icontinuedl b. CHARITY Icontinuedl A summary ofthè company's audited Balance Sheet at 31 March 2025 is shown below.. 2025 2024 £'ooo 2,385 18181 Fixed K8sels Nel Current Asselsl1￿"abi1rtieSI 2,508 Total Ptssets 2.552 1,567 Called up Share Capital Profil and Loss Account 1,500 1.052 1,500 67 Equty Shareholders, Funds 2,552 1,567 Inter-Diocesan Fuel Management Limited (IFMI The Charity owns 4.3 per cent {2024'. 4.5 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 sOUr￿d its electricity from renewable energy sour￿$ {prinGipally hydro-eledric and wind power} for over 20 years. Since 2017 it has been committed lo 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 percent ofthe Ordinary share capital of Hinsley Hall Limited. Hinsley Hall Limited was dormant in both the current and the prior year. 53 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) 15. DEBTORS 2025 Charlty Subsldlary £'ooo rooo 202 59 3S2 Group rooo 261 352 Trade Debtors Grft Aid Tax Recoverable Lega¢ies Re¢eivatle Gr8nts Receivab other Debtors and P￿payMentS 63 656 63 673 17 1.6S7 76 1,733 2024 Charity Subsidiary £'ooo £'ooo 181 50 355 428 121 140 790 Group £'ooo Trade Debtors Grft Aid Tax Recoverable L￿at1@S ReceivakAe Grants Receivab Other Debtors and p￿paYmentS Amounts due fromllbyl Subsidiary Company 428 121 159 19 17901 2,015 721 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 Charity Subsidiary Group Trade Creditors Other Tax and Socol S*urty Accrusls and Oeferred Income Other Creditors Amounts due tollfrcthl SUbS￿l8ry Company 2,292 2.381 81 874 21 107 787 113 11131 3A72 107 3.579 2￿4 Charity Sut6idiary £'wo 51 41 Group Trade Creditors Other Tax and Socd s￿Urty Accruals and Deferred Income Other Crthitor5 3,017 97 520 224 L7 3,786 3.9Q Included in Trade Creditors and Cash is £1,800k (2024.. £2,765kl in respect of the School Building Programme forwhich 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 DI0￿Se received £1,408k {2024'. £3,010k} and made payments of £2,373k {2024.' £4,296k). Also included in Trade Creditors is £29k {2024.' £34k) held on behalf of St Monica's Housing Trust Limited, a registered charity operating in the Diocese for the provision of accommodation for destrtute women seeking asylum in the United Kingdom. 54 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) 17. CAPITAL COMMITMENTS The Diocese entered into a Private Finance Initiative IPFI) arrangement for the building of a School on 4 June 1999. The Leeds Di0￿san 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. The Diocese also had capital commitments of£90k at 31 March 2025 (2024.. £90k). 18. OPERATING LEASES At 31 March 2025 the Diocese had the following future minimum lease payments under non-cancellable operating leases which fall due as follows: 2025 Charlty Subsldlary ffy)o £'ooo 2024 Group Group £,￿0 Expiry date. Within one year Be￿een and five years 89 289 88 170 258 133 213 358 19. ANALYSIS OF CHARITABLE FUNDS Analysis of Unrestricted Fund Movements For the year ended 31 Alarch 2025 Tra￿f￿r of InvgStrrEnts Funds GainsllLtssse$l rooo £'ooo At1Wil 2024 £'ooo At 31 March 2025 £'ooo Incon £'ooo Expenditu t￿0 Parishes- Designated Funds 35.968 7,060 17,1371 19531 34,947 Curia Desvjnaled Funds Curia Gener81 Funds Curia Unreslrictsd Funds 2,629 6.275 8,904 2,629 997 997 282 12821 2,762 14,9731 7,408 Total Unrestrictod Funds 44,872 9,622 12,110 273 42,355 Forth& y&ar ended 31 March 2024 Transfer of vestment5 Funds ILossesllGains £'ooo £'ooo AI 1 ADril 2023 £'ooo At 31 Vorch 2024 £'ooo Incotne Expenditure É'ooo Parishes- Designated Furbds 38.215 7.057 17.3761 105 12,0331 35,*8 Curia Desvjnaled Funds Curia G8n8ral Funds Curia Unreslrictsd Funds 2.629 2,629 1.029 1,029 565 565 9,348 2,789 14.8271 8,904 Total Unrestrict8d Funds 47.563 9.846 12.2031 1.134 11,4681 44,872 55 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) 19. ANALYSIS OF CHARITABLE FUNDS {continued> al Analysis of Unrestricted Fund Movements (continued) Parishes Unrestricted Funds are classified as Designated Funds to reflect the autonomy of each Parish given to it under Canon Law. Parishes Designated Funds consist of a transfer to Curia Unrestricted Funds of £997k (2024.. £1,029k) for the annual assessment and a transfer from Parish Restricted Funds of £44k {2024'. £1,134k) for capitalised Parish building projects which have been financed by restricted fundraising initiatives and Grant funding. Curia Unrestricted Funds consist of a transfer from Parish Designated Funds of £997k for Ihe annual assessment levied to fund Diocesan expenditure and enable it to meet its statutory responsibilities. Curia Designated Funds are for future youth evangelisation initiatives. bl Analysis of Restricted Fund Movements For the year ended 31 March 2025 Transfer of Investn*nts Funds ILos5e5VGains £'ooo £'ooo PA 1 Aprll 2024 £'ooo 31 March 2025 £'ooo Income Exp8nditure rooo £'ooo Parishes Parish Fun(Iraising Second Collections Batby Carr Cockrem Fund 516 587 467 14771 14011 1441 1661 582 420 151 424 Total Parish88 936 1,063 18781 151 1,006 Curia Priests, Reliretnenl Fund Peru Fund Poor M8s￿n Fund EpEcopal Fund Pastor81 Development Fund St Patrick'8 Mission Church PrEsts' Training Fund National Schools Singing Programme Other Funds 5,431 89 118 16511 14SI 22 531 451 99 202 76 32 356 73 32 339 40 1,202 308 39 14 1,223 341 1221 1761 18221 13621 22 1.603 317 20 Total Curla 7,705 1,800 1,968 533 8,136 Totsl Re5tricled Fund5 8,641 2,863 12,8461 1441 528 9,142 56 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) 19. ANALYSIS OF CHARITABLE FUNDS {continued> bl Analysis of Restricted Fund Movements (continued) For the year ended 31 VArch 2024 Transfer of Funds £'ooo At 1 April 2023 £'o Investments Gains £'ooo At 31 ￿r¢h 2024 £'o Income £'ooo Expenditure £'QCM) Parishes Parish Fundraising Second Collections Batky Carr Co¢krem Fund 854 13251 13681 1,1341 516 429 382 29 420 Totsl Pari$he$ 1,2 1,559 693 1,195 29 938 Curia Pr￿Sts, Retirement Fund Peru Fund Poor M8s￿n Fund EP￿CoPal hfensa Fund Pa51oral Development Fund Sl Patrick's Mission Church Prests, Training Fund National Schools Singing Programme Other Funds 5.624 107 181 16341 1281 305 5,431 89 191 73 32 339 40 1,202 308 327 29 37 1.388 48 1531 17281 1531 20 540 302 Total Curia 7.215 1.627 61 7,705 Totsl Restricted Fund5 8.451 3.186 12.2021 11,1341 340 8,841 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.. The Di0￿Se supports the Church's Mission in Peru. Poor Mission Fund.. This fund provides assistance to less affluent Parishes and Religious Communities within the Diocese. Episcopal Mensa Fund.. This fund supports the Bishop of Leeds and appeals made at his discretion. st Palrick's Mission Church.. This is a Mission in the centre of Bradford and is operated jointly with the Franciscan Friars of the Renewal. 57 LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) 19. ANALYSIS OF CHARITABLE FUNDS {continued> bl Analysis of Restricted Fund Movements (continued) 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 and the Benefact Trust. The grant agreement provides funding over eight years for the development of the Schools Singing Programme both in the DI0￿Se and through a collaborative project with other Catholic Dioceses throughoLrt the United Kingdom, a Catholic College and some Anglican Cathedrals. cl Analysis of Permanent Endowment Fund Movements For the year ended 31 March 2025 14)ril 2024 £'ooo Curia At 31 March 2025 £'ooo Incon* £'ooo Exp&ndttur• £'ooo Priests, Training Fund Poor Mission Fund Leeds Cathedral thjsic Fund 0$$ htenlK)ns Account 750 82 157 41 750 82 159 41 131 131 Total EndovoTMnt Funds 1,030 331 1,032 For the year ended 31 March 2024 Curia At 1 April 2023 £'ooo At 31 March 2024 £'ooo hcome £'ooo Expenditure £'ooo Priests, Training Fund Poor Mission Fund Leeds Cathedral thjsic Fund 4$$ hlenlions k¢ount 750 27 1271 131 141 750 82 157 41 152 41 Total Endowment Funds 1,025 35 1,030 58 38 8-8EX- a (o > p Li (o O LEEDS DIOCESAN TRUST YEAR ENDED 31 MARCH 2025 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 2025 of £11k {2024.' £15k) for care and other support seNices 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 {2024.' £50kl in rent and management fees from Hinsley Properties Limited. Al 31 March 2025, £113k was payable by the Leeds Diocesan Trust to Hinsley Properties Limited and in the prior year £790k was payable by Hinsley Properties Limited to Leeds Diocesan Trust. 60