NOThINGHAM DIOCESAN SICK AND RETIRED PRIESTS FUNDISRPFI CHARITY NUMBER 510119 CORPORATE TRUSTEE'S REPORT FOR THE YEAR ENDED 31ST MARCH 2025. Nottingham Roman Catholic Diocesan Trustees Ireferred to hereinafter as the Diocese), as corporate trustee of the Nottingham Diocesan Sick and Retired Priests Fu¢)d Ireferred to herein as the Charity), has pleasure in presenting the Annual Report and Accounts of the Charity for the year ended on 31, March 2025. They were approved by the Diocese on 29 january 2026. Objectives and Activities The purpose of the Charity is "to provide relief to needy sick ond needy retired persons who are or who hrjve been priest5 of the Diocese" Ireferred hereinafter as the SRPF Purposel. It has continued to give grants to and make payments on behalf of beneficiaries according to the SRPF Purpose. The grants have been either payable directly to the beneficiaries themselves or for their support, for example to care homes. Accordingly, the main activity undertaken to further the purpose of the charity for the public benefit is the relief of poverty. In making this statement the Diocese has had regard to the Charity Commission's guidance on public benefit. It5 concern is to ensure that the beneficiarie5 are able to retire with a reasonable standard of lÈving and dignity. No staff are directly employed by the Charity, the administrative support being provided by the Diocese. Volunteers assist with the work of 5UPPOTting the beneficiaries, but it is not practicable to evaluète their contribution in terms of hours or staff equivalents. Related Party Transaction All funds received during the year have been transferred to the Diocese, the funds to be placed in a restricted fund of the Diocese with the same purpose as the Charity li.e. the SRPF Purposel, which is included within the broader objects of the Diocese, which are.. 111 The advancement of the Roman Catholic religion in the area of the Roman Catholic Diocese of Nottingham as determined under the laws of the Roman Catholic Church and in accordance with them. 121 The advancement of any charitable purpose supported by the Roman CathDlic Church in any part of the World. The Trustees of the Diocese have determined that the assets of the restricted Sick and Retired Priests Fund of the Diocese will be used wholly for the SRPF Purpose. The Trustees of the Diocese, as corporate trustee of the Charity, believe the donation will be in the interests of its beneficiaries by allowing the combined investment portfolio of the charity and the Diocese to generate greater returns, simplifying management and administration and giving the Trustees of the Diocese greater flexibility over the allocation of resources in furthering its objects, specificallyi where this donation is concerned, the SRPF Purpose. No person who could currently benefit from the Charity will be prevented from benefiting from the restricted fund of the Diocese solely due to the donation and the resulting transfer of assets from the Charity to the Diocese.
NOINGHAm DIOCESAN SICK AND RETIRED PRIESTS FUND ISRPFI CHARITY NUMBER 510119 CORPORATE TRUSTEE'S REPORT FOR THE YEAR ENDED 31ST MARCH 2025. From l February 2022, all grants, donations and costs associated with the SRPF Purpose have been expended by the Diocese and charged against the newly formed restricted Sick and Retired Priests Fund. For adminlstrative reasons, some fullds of the Charity have been retained by the Charitv. However, the intention 15 that these assets will a150 be donated to the Diocese for the SRPF Purpose. In due course, once the Charity no longer has any assets or income, an application will be made to the Charity Commisslon for the Charity to be wound up. Aehievements & Performance The Charity made no grants in 202412025 as this is now undertaken by the Diocese. The Charity has transferred all Its investments to the Diocese. Financial Review The finances of the charity are as shown in the annual accounts. The Investment Policy of the Diocese provides that it may require disinvestment of any holding not considered acceptable in the context of a Catholic diocese. The policy of the corporate trustee is to hold sufficient reserves to ensure that all actual and polential beneficiaries may be supported adequately for their expected life span as set out in the Government Actuaries Department life tables after providing for any payments from the Diocese to the charity to support its potential beneficlaries. From l February 2022, this policy is being applied by the Diocese through its restritted Sick and Retlred Priests Fund. The reserves at 31" March 2025 are £0 thousand12024: £2 thousandl. The zero balance in the reserves is due to transfer of all assets and income from the charity to the Diocese. Plans for Future Periods Although the appeal launched in 2012 15 now largely concluded, some donations continue to be received by the Charity from a generous and supportive body of donors. These will periodically be donated to the Diocese for the SRPF Purpose. Structure Governance and Management The charity is constituted under its trust deed which was last updated on 8 March 2010 in order to provide for the appointment of the sole corporate trustee. The appointment of the trustees is by the Bishop of Nottingham. The Charity is managed by the Diocese, its corporate trustee, and lurther information about the Diocese can be obtained from its Annual Report and Accounts. Major risks have been reviewed and systems or procedures have been establish2d to manage those risks.
NOTTINGHAM DIOCESAN SICK AND RETIRED PRIESTS FUND ISRPF) CHARITY NUMBER 510119 CORPORATE TRUSTEE'S REPORT FOR THE YEAR ENDED 31ST MARCFI 2025. Rèference and Admlnlstrative Details The Charity Is the Notlingham Diocesan Sick and Retired Prie5t5 Fund, registered number 510119, and 15 known generally by that name. The adree of its princlpal offl¢e Is.. Diocese of Nottingham St Hugh's Houge, I Castle Quay Nottingham, NG7 IFW The investments are held in the name of the Investment manager's nominee company. The members of the clergy Health & Wellbe1ng Committee during the yÉar 3nd to the date of thi5 report are as follows.. Reverend P. ChSpchase lin the Chairl Reverend E Jarosz Reverend J Wheat °Reverend J Kyne IEpi5copal Vicar for Clergy) °Rev Mr Anthony Cordes *Mrs Frances Cordes 'Mr D Lawes 'Mr l. Gamble 'Mr C.B.A. Reynolds Non-voting members. The day to day runnlnB of the Charity is the responsibility of the Chief Operatlng Officer of the Dlocese (David Lawesl. The bankers to the charlty are.. Lloyds Bank plt 12-16 Lower Parllament street Nottingham NGI 3DA The independent examlners to the charity are.. PKF Smith Cooper Audit Limited Ifrom July 20221 2 Lace Market Square Nottingham NGI IPB The Invèstment Manager5 to the charity are.. Quilter Cheviot Senator House 85 Queèn Victoria Street London EC4V 4AB
NOThINGHAM DIOCESAN SICK AND RETIRED PRIESTS FUND ISRPFI CHARITY NUMBER 510119 CORPORATE TRUSTEE'S REPORT FOR THE YEAR ENDED 31ST MARCH 2025. Other matters The accounts of the charity are con501idated into the accounts of the Diocese, Its corporate trustee. No complaint5 have been received in relation to fundraislng. In its fundrai5in& the charity does not require donations from vulnerable pèople. No funds are held by the charity a5 Custodian trustee on behalf of other5. STATEMENT OF TRUSTEE'S RESPONSIBILITIES The Trustees are responsible fof preparing the annual report, the strategic report and the financial statements In accordance with applicable law including the Charities (Accounts and Repoitsl Regulations 2008 and United Kingdom Generally Accepted Accounting Practlce. The law appllcable to charities in England a Wales requires the Trustees to prepare financial statements for each financial year which give a true and falr view of the state of affairs of the charity and ol the 5urplu5 or deficit of the Charity for that périod. In preparing these financial statements, the Trustee is reQIred to= select suitable 3ccour)ting policies and then apply them consistently. makejudgements and estimates that are reasonable and prudent,. and prepare the financial statpments on the goln8 concein basis unless it is inappropriate to presum8 that the charity wlll continue in operation. The Trustees are responsible for keeping proper accounting rècord5 which disclose wlth reasonable a¢¢yTacy at any time the financial position of the charity and which enable them to ensure that the financial 5taternents comply with the applicable law and provisions of the trust deeds. The Trustees are also responsible for 5afegu3rding the asset5 of the charity and for taking reasonable steps for the prevention and detection of fraud and other Irfègu13rities. On behalf of the Trustee t Vic I. Right Reverend P.J. McKinney Blshop of Nottingham and Chairman of the Board of Directors of Nottingham Roman Catholic Diocesan Trustees the sole trusteè of the Charily. Dated 29January 2026
NOThINGHAM DIOCESAN SICKAND RETIRED PRIESTS FUND ISRPFI CHARITY NUMBER $10119 Indèpendent examiner's report to the trustee's of Ntsttlngham Roman Catholic Sick And Retired Prlests Ftjnd I'the charity'l I repoirt to the charlty trustee on my examination of the account5 of the charlty for the year ended 31 March 2025. This report is made solely to the charlty's Tru5tee5, as a body, in accordance wlth Part 4 of the Charities IAccounts and Reports) Regylatlons 2008. My work has been undertaken so that I might state to thè charity's Tru5tee5 those matters l am requlred to state to them in an Independent examiner's report and for no other purpose. To the fijllest extent permitted by law, S do not accept or assume responslblllty to anyone other than the charity and the charity's Trustees as a body, for my work or for this report. Responsibilities and basis of report As the trustee of the charity you are responsible for the preparatlon of the acwunts In accordance with the requirement5 of the Companies A¢t 20111'the 2011 Att'l. I report In respect of my examinatlon of the charity's accounts carri?d cut under section 145 of the 2011 Act and in carrying out my examination I have followed all the appllcable Directlons glven by the Charity Commission under Section 14515llbl of the 2011 Act. Independent examlner'5 Statement Your attentlon Is drawn to the f3Ct that the charity ha5 prepared the atcounts in accordance wlth Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to Charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Prattice issued on l April 2005 which Is referred to in the extant regulations but has been wlthdrawn. I have completed my ex3minatlon. I confirm that no matters have come to my attentlon in connection with the examination giving cause to believÈ'. accounting records were not kept in respect Df the charFtY a5 required by section 130 of the 2011 Act,. or the accounts do not accord wlth those records,. or the account5 do not comply with the applicable requirements concerning the form and content of accounts set out in the Charitie5 (Accounts and Repoit5I Regulations 2C>08 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no Concerns and have Come acr05S 110 other matters in connection with the examination to which attention should be drawn In this report in order to enable a proper understanding of the accounts to be reached. Signed: Dated.. 30 January 2026 S FlÈar Sarah Flear for & on the behalf of PKF Smith Cooper Limited 2 Lace Market Square, Nottingham, NGI IPB
NOTTINGHAM DIOCESAN SICK AND RETIRED PRIESTS FUND {SRPFI ANNUAL ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025 STATEMENT OF FINANCIAL AFFAIRS FOR YEAR ENDED 31ST MARCH 2025 2025 £OOOs 2024 £OOOs INCOMING RESOURCES Donations Appeal Gift Aid Refunds Second Collections Lègacle5 Rental income Dividend & Interest Income 15 16 18 17 36 43 RESOURCE5 EXPENDED Investment Management Donations Grants Mlscellaneous costs 39 42 39 42 TRANSFERS INTRA DIOCESE Appeal donations from Parishes OTHER RECOGNISED GAINS/LOSSES Profit / (Lossl on Investments IDEFICITI / SURPLU5 FOR THE YEAR
NOTTINGHAM DIOCESAN SICK AND RETIRED PRIESTS FUND (SRPFI ANNUAL ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025 BALANCE SHEET AT 31ST MARCH 2025 Note Z025 £OOOs 2024 £OOOs CURRENT ASSETS AND LIABILITIES Current Assets Cash at Bank Debtor5 Less: Current Liabilities Net Current Asset5 NET ASSETS FUND BALANCES Accumulated surplus brought forward Current Year (Deficit) I Surplus on Income over Expenditure 121 Accumulated Surplus carrled forward Approved by the trustee on 29 January 2026 Right Reverend P J McKiney Bishop of Nottingham and Chairman of the Board of DSrectors of Nottingham Roman Catholic Diocesan Trustees the 501e trustee of the charitv
NOTTINGHAM DIOCESAN SICK AND RETIRED PRIESTS FUND {SRPFI ANNUAL ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH 2025 2025 £0005 2024 £OOOs CASH FLOWS FROM OPERATING ACTIVITIES Net cash provided by / Iu5ed inl operatir)g activities Cash flows from investing activities: Dividend income Proceeds from sale of investmènts Purchase of investments Net Cash provided by (used In) Investlng activities Change In cash and cash equivalent5 in the reporting period Cash and cash equivalents brought forward Cash and cash eqLtivalents carried forward Recon¢lllatlon of net income/lexpenditurel to net cash flows from operating activitles Net income I lexpenditurel Galns on investment5 Dividends IlncreasellDecrease in debtors Increase in creditors 121 121 Net cash provided by I (used inl operating activlties
NorriNGHAM DIOCESAN SRPF NOTES & ACCOUNTING POLICIES FOR THE YEAR ENDED 31ST MARCH 2025 I. ACCOUNTING POLICIES The charity is a charitable trust governed by its trust deed. The principal activity is that of provide relief to needy sick and needy retired persons who are or who have heen priests of the Diocese of Nottingham. The address of the principal office is Diocese of Nottingham, I Castle Quay, Castle Boulevard, Nottingham, NG7 IFW. The preparation of the charity's financial ststements requires management to make judgments, estimate5 and assumptions that affect the reported amounts of income, expense5, a55ets and liabilities, and the disclosure of contingent liabilitie5, at the reporting date. However, uncertainty about these assumptions and estimates could result in material adjustments to the carrying amount of the asset or liabilitv. The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceeding years except where stated. Basis of Accountin The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republir. of Ireland IFRS 1021 leffective I January 20151- (Charities SORP IFRS 10211, notwithstanding that the current Charities IAccounts and Reports) Regulations 2008 refer to the previous Charities SORP. As there 3re no material uncertainties about the charity's ability to continue the accounts have been prepared on a going concern basis. The reporting is in pounds sterling. The charity meet5 the definition of a public benefit entlty urbder FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy noteslsl. Funds All of the funds of the charity are unrestricted in the hands of its trustees. Incomin Tesources Incoming resource5 are included in the Statement of Financial Activlties on the basls of the amount's recelvable for the year. Legacies are Included when there is sufficient probability of receipt as at the end of the year. Investment income is included when it is received. Gift Aid refunds are included for the year to which they relate. Resources ex ended Resources expended are recognised in the Statement of Financial Activities when a legal or constructive obligation has arisen. Irrecoverable VAT is included in the related expenditure. Taxation As a registered charltyj the charlty is generally exempt from taxation on Its Income and gains arising out of Its charitable activities. Investments Investments held a5 fixed assets are revalued at mid-market value at the balance sheet date. Gains and10sses on investments are reported in the Statement of Financial Affairs.
NOThINGHAM DIOCESAN SRPF NOTES & ACCOUNTING POLICIES FOR THE YEAR ENDED 31ST MARCH 2025 Debtors Debtors represent amounts which the charity expects to receive at the balance sheet date less any reduction for amount5 which are or may be unreceivable. These also include the unexpired amount of expenditure incurred before that date. Creditors Creditors represent amounts which the charity expects to pay at the balance sheet date. It includeds any amount set aside to provide for expenditure where there is a reasonable expectation that it may become payable. Activities As there is only one princip31 activity further analysis of it or of supporting cost5 is not provided.
NOThINGHAM DIOCESAN SRPF NOTES & ACCOUNTING POLICIES FOR THE YEAR ENDED 31ST MARCH 2025 2. DEBTORS Other Debtors Gift Aid 3. MOVEMENTS IN OPENING FUNDS 2025 £0005 2024 £OOOs Balance at 1st April 2024 brought forward Surplus/ (Deflcitl for the year Balance at 31st March 2025 4. RELATED PARTY TRANSACTIONS Insofar as the trltstee is aware, there are no matters required to be repDrted other than already shown in these accounts within the Trustee Report in the section headed Related Party Transactions"