DIOCESE OF HALLAM Roman Catholic Diocese of Hallam Trust (Registered Charity No. 512021) ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31st DECEMBER 2023 DIOCESE OF HALLAM (Roman Catholic Diocese of H&ll*m Trust) CONTENTS Page Legal & AthniDistrative Details Annual Rei Independent Auditofs Report 10-12 Statement of Financial Activities 13-14 Balance Sheet 15 Cash Flow Statement 16 Notcs to the Financial Stat¢m¢nts 17-32 Page I DIOCESE OF HALLAM (Ro]nan Catholie Diocese of Hallam Trust) al & Administrative Detalls Legal Statss The Roman Catholi¢ Dio¢e$e of Hallam Trust is a tharitsble trust, est8blish¢d by a Trust Deed dated 28th October 1981. The Charity Registration number is 512021. The charity is registered with the ILM. Revenue & Cu8tom8 for tsx exemption pU￿oseS under reference XN57643A. The Trnst 18 athninistered by a Trnst Corporation. Diocese of Hallam Trustee, incorporated 26th OctobeT 1981 and whose Company Registration Number is 01593544. Dio¢¢s¢ of Hallam Trustee is a Company Limited by Guarantee with a licence from the Secretary of State for Business, Innovation & Skills to dispense with the word Limited from its name. As 8t 31° December 2023 there were 9 Members of the Finance Board of Diocese of Hallam Trustee. Directors of Diocese of Hallam Trujtee (wbo 8erv¢d durlng the year) (Known as Members ofthe Finance Board) Right Reverend Ralph Heskett, C.Ss.R. Ms. C. Bailey, RN, BEM Reverend D. HumpbTies - Appointed 6th D￿eMber 2023 Reverend P.D. M¢Guire H.H. M.J. Murphy Reverend C.M. Posluszny Mrs A.M.. Ryalls Reverend Monsignor D.M. Sexton, V.G. R￿erelld Dr. A.J. Strike- Appointed 8 March 2023 Secretary to the Flnance Board of Dlo¢e$e of Hallam Trngtee EJ. Whittaker Key Personnel:. Finance Dept:. E.J. Whittaker Schools Dept:_ P. Patterson (To 31° August 2023), k Dewhurst (From I" S¢ptetllb¢r 2023}, & IL S&wyer Prln¢lpAI Addres$ of Charlty & Regtstered Office of Trustee The Diocese of Hallam Pastoral Centre, St. Charles Street, Sheffield. S9 3WU Prlnclpal Bankers HSBC Bank plr, 22 The Moor, Sheffield. Sl 2PA Solicitors Insurance Managers Catholic Insurance Service Limited, Suite 5, Oxford House, Oxford Road Thame, Oxfordshire. OX9 2AH Taylor & Emmet LLP, 20 Arundel Gate, Sheffield. Sl 2PP Accountants Investment Managers Rathbones Group plc (Investec Wealth and InVestn￿llt L￿), Beech House, 61 Napier Street, Sheffield. Sl18HA W.H. Prior Chartered Certified A¢¢outttants Railway Court, Doncast￿. DN4 5FB Audltors Warrens A¢¢ountants Limited Chartered Certified Accountsnts & Statutory Auditor 33Thorne Road, Doncaster. DNI 2HD PAge 2 DIOCESE OF HALLAM (Roman Catholi¢ Dloeese of H*llam Trust) ANNUAL REPORT Year Ended 318t Deeember 2023 The Trustee presents its Report and Financial Statements for the Year Ended 31 December 2023. The Statements appear in the fonnat required by tbe Stat¢rn¢nt of Reconuncnded Practice for Accounting and Reporting by Clwities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS102)- Charities SORP FRSIO2. JIISTORY AND ORGANISATIO The Roman Catholic Dioccsc of Hallam is a charitsble trust. established by a Trust Deed dated 28th O¢tobeT 1981, arnended by a deed of varialion dated 20, July 2006. The Diocese of Hallam was fornwj on 30th May 1980 from tbe division of thc Dioceses of Leeds and Nottingham. The Tn￿t is a Registered Cbarity, registration number 512021 and its sole Trustee is Diocese of Hallam Trustee as detailed on Page l. The objects of the charlty are:_ 'To advance Éhe Roman Caiholic Religion ihe Ilallam Diocese bysuch rnea￿ being charitable as the Bifhrip ofHollaFn may thipzkfit andproper andfor the service and supporl whether in the Hallarn DiDc&re or outside the Ilallam Diocese ty Nuch means as aforesaid of choriiable worky and objectspromoted by tke Church,. The Dioccsc of Hallam consists of 52 parishes in the county of South Yorkshire, parts of the High Peak and Chesterfield Districts of Derbyshire, 2nd the distri¢t of Bassetlaw in Nottinghamshire. Mass attendance for 2023 averngcd 8,810 {2022.. 7,818) STRUCTURE. GOVERNANCE & MANAGEMENT The Roman Catholic Diocc5e of Hallam Trust is a chaTitablc trust established by Trust Deed. The poweT of appointment of Trustees is vested in the Bishop of Hallam. The Charity is admini$tsr¢d by the trust Corporation Diocese of Hallam Trustee. company limited by guarantee and not having share capttal, registered under the Companies Acts (No. 01593544). The directors of Dio¢es¢ of Ha112m Trustee are known &$ Members of the Finance Board. The sole trnstee is the tsust corporation Diocese of Hallhm Trnstee, The Bishop of Hallam appoints the Members of the Finance Boord ￿lld￿ article 31 of the Trust Corporation's Articles of Association. The Members of the Fill￿¢¢ Board comprise clergy and laity and are appointed for their eKperti5e. New Members of the Finance Board are provided with an infomjation pack relating to the constitution, governance and operation of the charity, and ongoing training is provided to all Members. The Memb￿5 of the Finance Board who served during the year, and as at the date of this Rq)ort are detailed on Page l. The Finance Board of Diocese of Hallam Trustee meets approximately every six weeks. The Board receives reports from senior officers and various committees, considers proposals for major expenditure and. under the Icadership of the Bishop, Sets the strategic dI￿tiOn of the charity. The Schools, Department gives advice to Catholic, and joint Catbolic and Cbureh of England, s¢hools in the Dio¢ese. Th¢ Diocesan Board ot Educ&tion meets regularly to help facilitate the Bishop's vision for tbe creation of two Catbolic Multi academy tnlsts acriY3s thc dioccsc. Thc Board mect to support the Bishop and the schools in a wide range of matters. Th¢ Board comprise8 of Bishop Ralph. the Episcopal Vicar for Schools. officers of the Schools, Departmetlt and the Director of Finallcc. Thc CEOS of St Clare's and St Frdncis CMATS are in attendance as non-voting members. The Diocesan Building Conunittee nornially meets one week before each Fillance Board meeting. That Gommttt¢e monitors property matters in more dcpth alld TCPOrts to the Finance Board with their recommendations. It holds delegated responsibility for building projects below £40,000. Rev. C. PosluszDy represented the Finance Board on the Diocesan Building Commiltee, and the Direclor of Fillancc and Diocesan Propety Manager are in attendance. The tnvestment Sub-committee of the Finance Board of Diocese of Hallam Trnstee monitors perforniance and sets benchmarks for the invcstmcllt managers. The Sub-committee consists of at least one member of the Finance Board and throughout 2023 this Committee comprised of the Bishop. Mr. S. Hanlon. Rev. M. Mcmanus. and the Director of Financ¢. The Diocesan Health & Safety Sub-committee met regularly in 2023 . Dtocesan Organisations OP¢fdte under the supervision of a M¢mb¢r of the Finance Board, &$ Executive of Diocese of Hallam Trustee, or a senior mcmber of stsff, operating under delegation, who reports to th¢ Finance Board. Following the Elliott Review. the Trustee's Safeguatding Committe¢ was fOrn￿d to replace the Diocesan Safeguarding Commission in 2022. The Trustee's Safeguarding Cornmittee meets several times a year and presents regularreports to the Bishop and Fin4n¢e Board. The trust has recruited a lay TTU5teewith extensive safeguarding experience to chair the Trustee safeguarding Con)mittee and en8UTes that safeguarding matters are given the priority they deserve at every trnstee board meeti]Jg. The SafeguardiDg Committee seeks to implernent National and Dioccsan Policies, Guidelines and ProceduTCS on the care and protection of children and vu]nerable adults and works elosely with the Catholi¢ Safeguarding Standards Agen¢y (CSSA), Local Safeguarding Representatives in each parish, safeguarding rqiresentatives in diocesan organisations, and relevant slatutorybodies. Page 3 DIOCESE OF HALLAM (Roman Catbollt Dlocese of Hallam Trust) AJNNUAL REPORT {Conthiued) Year Ended 31st December 2023 PaTish Priests administeT the financial affairs of the Parishes, and act as agents of Diocese of Hallam Trustee. They assisted by a Parish Finance Committee who offer advice and support. In parishes. and in Dio¢esan organisations, the Charity relies on the generous support of a large number of volunteers who offer their time and skills freely. PUBLIC BENEFIT The celebration of Mass is ccntral to the Roman Catholic faith, and this is the main use of the 60 ChuTches operated by the charity. Whilst Sunday is the principal day of worship, maDy of our churches are open each day and are accessible to all. Evcry week the parish community comes togetheT to cclcbratc thc mystcry of our faith _ the death and resuTrection of Our Lord lesus Christ. People gather in prayer and praise of God. and to seek God's help and forgiven￿$. Anyone is welcome to attcnd service8, or just to take a moment in a sacred space for peace and stillness in order to pray and there is no qu¢$tion of any fee or charge. Wc also celebrate the sacraments. prIn￿￿]Y within each p￿Ish community. Many of these are liDked to the milestoncs in people's lives. Ai Baplism an individual becomes part of the body of ChTisL and part of the Church. From theiT FiTSt Comrnunion ihey are able to take part thIIy ill the Eucharist. Confirniation affirn]s them in their faith and nomjally takes place at adolcscence. In Marriage th¢ individual forms a covenant with thcir parther. The Anointing of the SICK and the Sacrament of ReconciliatLOll ar¢ the Iwo sacram¢nts of healing, and through Holy Orders ordination as a priest or d¢acon is conferred. The parish priests and clergy guide each parish community, under the authority of the Bishop, who is our sbepheTd and teacher. Many parish buildings ar¢ also used for $o¢ial events and activities that benefit the wider community. Through Dioccsan Agencies a wide range of services are supported by the Dio¢es¢. For example, the Diocesan Schools, Department assists the work of the Voluntary Aided Catholic, and Catholic Voluntary Academy, 8¢hools in the Diocese, through training, guidance and advice to headteachers and governors. Thts includes the development and monitoring of religious education, the Section 48 inspection of school8, advising on the appointment of seoior staff and succession planning, planning of school pla¢es and the maintenan¢e and provision of s¢hool buildings. The dq)artment works Closely with the four councils and two county councils that cover the Diocese and the Governors of Voluntary Aided Schools, and the Directors of the Academy Trusts. Through the Diocesan Schools, Building Fund, grants are made to Voluntary Aided governing bodies towards the capital cost of school buildings. Fach s¢hool is an exempt charity, and maintsined schools and Catholic Voluntsry Academies provide education free of charge. Nvhilst these schools are not part of the ch4rity, the Diocese plays a key role in supporting them and this bas an enonnous impact on all their pupils. regardless of whether or not they have any religious affiliation. Diocesan Org2nisations. such as St. Wilfrid's Centre, provide a turther opporMnity for the Church to Teach out to the wider community. St. Wilfrid's Centre gives practical help and support to homeless and vulnerable people who experience the burden of social exclusion. Most of its clients are affectrd by homelessness, povety. mentsl health needs, addiction, extreme isolation and instithtionalisation. It welcomes all, witbout distinction of race, national Origi￿ sex. sexual oricntation, political, religious or other opinions. Projects such as this are one way in wbich th¢ Dior¢se tries to meet Christ's commandment to "Love yot4r neighboiir asyozirself. The Members of the Finance Board confllnl that they have complied with the duty in section 17 of thc Charities Act 2011 to have due regard to Public Benefit guidance published by the Charity Commi&8ion in deteTmi]Jing the activities undertaken by the Charity. ACHIEVEMENTS & PERFORMAIYCE The primary arca that the Charity seeks to fulfil its objective8 is through its 52 parishes. They do not exist as independcnt congregations. and it is the parfishes together with diocesan agencies and organis&tions tbat togcther make up the charity. As a result of pastoral work and Preparations in these p￿isheS in 2023 there were 679 baptisms, 57 receptions into tbe Churcl 130 Ma￿lageS and 487 fijnerals. There were also 731 children receiving their First Communion and 423 Confimiations. The Caritss ¢ounselling services continued to grow and offered over l 0.000 hours of counselling to individuals in schools. parish and communities. The counselling team grew to 23 qualified counsellors who were employed on a sessional b&si5. We were particularly pl¢ased to cmbcd into service the regular SUPPOrt of12 final year counselling students on placement. The Cannel Care project gTeW from opening three afternoons perweek to opening 8Trx days a week, with a further two evening sessions. We would want to a¢knowl¢dge the grant funding from theNational Lotterywhich enabled Carmel to develop community involvement and to grow volunteer oppormnities in the project, whi¢h wntinued to address the impact of the pandemic. Caritss were grateful for the gen¢rou8 grant support from the Albert Gubay Trust which enable us to support over forty individuals with experience of domestic abuse. It is ¢xpected that tbi$ support is likely lo expand in ￿tUre years. Page 4 DIOCESE OF HALLAM (Roman Catholic Diocese of HAIIAM Trust) ANNUAL REPORT (Continued) Year Ended 31st Deeember 2023 2023 was a very busy year for Youth Ministy. The Diocese again had a large number of young people attend Flame at Wembley Arena in March 2023. The theme of Flame 2023 was "Rise Up!" as it encouraged our youth to rise up after the pandemi¢, rise up as young Catholics and rise up for the adventure that is our Catholic faith. Flame came ahead of World Youth Day where Bishop Ralph was accompanied in Lisbon by a group of our young people, They joined with 354,000 pilgrims from more than 200 Countries. Within the diocese Youth Ministy continued to develop links with parisbes and schools, supporting the Faith in Action awards. fundraising events, school retreats and growing the young leaders group. The Forniation & Mission team were active across the dioc¢8e preparing for the Synod which took place in OctobeT 2023. The Forniation & Missiojj team coordinated the process of discussions that look pla¢e in many of our parishe5 and then compiled all ihe feedback into one do¢ument that was our diocese input into the s)Tod. The final document from Hallam submitted to the Bishop Conference was w¢ll received by the national coordinators. Activities that take place outside of the pari8he8 are defined as 'furAal" Thes¢ ¢onsist of Diocesan Agencies and Dicrt¢san Organisations who work alongside parishes in fulfilling the objects of the Charity and th¢ mission of the Church. Diocesan Agencies work under the direct supervision of the Bishop Finance BoaTd to n]eet specific pastoral, administrative or liturgical needs identified by the Bishop. Budgets are set and they are encouraged to generate income wherever feasible, and such inwme is detsiled in Note 4 of the fJnancial statements. The net cost of Diocesan Agencies 18 met initially by income from Diocesan investtnents and the balance is "as8essed" on the Parishe8 tlwough the"Parish A8ses8ment" Dio¢esatt Agencies and other expenditure funded by assessment include:_ Bishop of Hallam's Offi¢e Schools, Department Mission & Forn￿tion Property Management Department Young Adults Ministy & University Chaplaincie8 (University of Sheifield & Sheffield Hallajn University) Finance Departn]ellt Tribunal Youth Ministy Safeguarding Ha118m P>oral C¢ntre National Levies_ CaTBW Bishops, Conference of England & Wale4 CES, et¢. Professional fees Diocesan GTants Historic Churches Committee & Diocesan Archivist Diocesan Organisations are not financed tbrough Parish Assessments, and are self-financing, although a number of these projects rely on the generosity of Parishes and parishioners. Their gross income is detailed in Note 4. The income and expenditure of theseprojects forms a substantial part of "Curial" activities. They include:. Caritas Hallam-children & Family Support. Pastoral Care for Deaf People, and Carnlel Care St. Wilfrid's Centre- a Project supporting homeless and vulnerable people St. Wilfrid's Pla¢e- providillg short-terni rcsid¢ntial accommodation to vulnerable people Diocesan Pilgrimage to Lourde8 Diocesan Pilgrimage to Walsingham Diocesan Pl1￿]mage to Padley Youth activities Justice & Peace Commission Across all the diocese of England & WaleB the variously named Caritig Setvi¢e$ have adopted & standardi$ed title of Caritas. Caritas works alongside oiheT diocesan Caritas bodies and with the CaTitss organisation worldwide. The work undertaken by Caritas Hallam expanded fijrther ij) 2023 to meet the growing demand for mental health and counselling services following the p￿deMIc. Page 5 DIOCESE OF HALLAM (RomAn Catholl¢ Dlo¢eJe of Hallam Trust) ANNUAL REPORT (Continued) Year Ended 31st Decejnber 2023 FINANCIAL REVIEW ARISHACTIYITJE Parish Offertory Collections (excluding Gift Aid) an)ounted to £1,799,325 Compared to £1,707,908 in 2022, an increase of 50/0 . Th¢ average giving per person for 2023 by reference to attendance is calculated at £3.93 (£4.20 per w¢ek 2022). Parish ¢ollection5 and other voluntary income repr¢s¢nted 65 /0 of totsl gross parlsh income (2022: 70Q/o) . Gift Aid tax recoverable from H.M. Revenue & Customs totalled £300,836 in 2023 {2022: £328,271), a decrease of 80/0, following an incTease of 24/0 in 2022 8nd 5Y• fall in 2021. ParAshes received legacics of £525.244 in 2023 (2022: £265.171). This includes one legacy of £3 14,979 that benefited two parishes. The use of parish balls and other functional propety in the year in¢re&sed for a second consccutive year. following the quite limited use in 2021 due to Covid-19. Income from functional propety was £243215 an increase of 35 /D following an incTease of 61'A in 2022, returning to the level of 2019. The income from parish investment properties decreas¢d by 140/0 in 2023 - £343,J59 compared to £399,429 in 2022 8nd £317.491 in 2021. The cost of Tepairs and nunagement of those investment properties d¢¢reased to £41,219 in 2023 from £110,163 in 2022. The cost of parisll property repairs continued to be a significant arca of Parish ¢xpenditure. and increased by 80/0 with a c05t of £633,430 in 2023 (2022: £584.644). This is still less than the previous Tate (£773,004 in 2021) but remains a significant area of expenditure. The impact of gas and electricity pric¢ increases al80 Ampacted Significantly in 2023 when the previously fixed Tat¢s with IFM (Inter-Dio¢esan Fuel Management Ltd) were renew¢d nationally. The cost of Heal & Light in Parishes in 2023 was ££589,745 ¢ompar¢d to £273,047 in 2022. Invoices for nujor improvements and new buildings aTe paid centrally by the Diocese. and ¢haTged to tbe approwiate PaTiSh's'?ari8h Ledger" a¢count with the Diocese. Expenditure oll new buildings and majorexpenditure that 16 Considered to extend the life of existing properties is capitalised and depreciated. Similarly, wets with a cost of over £5,000 ar¢ ¢apitsiised and depreciat¢d over their estin￿ted useful liv￿. All legal fees and ag¢nts' ¢osts ar¢ added to the costs of the asset. Major projects in 2023 in¢luded.,- Our Lady Queen ofpeaee. Cbestsrlleld-The wth* toreworder the Parish C¢ntr¢ atthe Church of the Annullciation ¢ontinued in 2023 and du¢ to som¢ difficult1¢5 was still itsprogress as at 3111 De¢emb¢r2023, with a value of £489,272. Work willbe coJJ)pleted ill 2024 with •tt ¥nti¢ipated tots] co8¢ of £523244. Q SL Peter-In-Ch•lns, DOD¢￿ter- A number of separateprojects wete completed duriDg the y￿. including:" ReplaceTnent of flooring in the Church £18,465 Replac¢ment windows & doors in the Church Hall £17,700 Replacement kitchen in the presbytery £17,354 External decorating- Church, Hall & Presbytery £16.879 RepaiTr to Church Winth)ws £8,887 Windows replaced in parish pn)perty on Chw Ro4 £6.225 Our L￿Y of Mount CarmeL Doncaster - Work kn Tepatr the presbytery at the Chapel of Ease. Kiik SandalL which had bwi ￿r￿PIed by a retired priest was carrled out during the ye4r xt a c05t of £14.458. EI SL Alball,￿ Denaby- The boiler was r￿laCed in 2023 al a wst of £8.040. Q St M#gd*lene'i, Maltby- Repairs carried oul to the Coleman Centre. which is used by tho FoodbanL at a ¢ost of £6,074. Before unrealised gains on investments, ParAsh Assessments and other transfers the Parishes cumulatively resulted in a sllrplu8 of £448,091 (2022 £470,832 SUTplus). Changes in the value of parish investment during the year increased Parish Funds by £8,033 making the nel surplus before internal transfeT5 £456,124 (2022: £1,635.589 Surplus). Parish Assessments of £586,456 (a 6Yo increase on the £553260 Assessment in 2022), and other internal transfers. reduced this to an overall nei de￿¢&$¢ of P￿]Sh funds of £139,508 (2022: net increase of £1,072,227). Total Parish funds Ca￿led forward at 31" December 2023 amounted to £26,479.844 of which £l6,410,646 was tied-up in fiwtionai property and othex fix&1 assets in everyday us¢ by parishes for charitable purpos¢s, Page 6 DIOCESE OF HALLAM (Roman Catholl¢ Dfioc¢$e of Hallam Trust) ANNUAL REPORT (Continued) Year Ended 31st December 2023 UIUALACTIVITIE Total Curial income increased by 220/0 in 2023. followiDg an increase of 211/0 in 2022. Voluntary donations increased by 20 /0 to £200,467. but grant income decreased by 400/0 to £105270 from £174.937. Income from Charitable Activities iZLcreased to £1,086,196 reflwting the increased activity. Investment income increased signthcantly (820/0) as the income from dividends incrcascd. and the majority of this incrcase was due to the in¢Teas¢d Icv¢l of bank Inte￿$t on deposits, from its negligible Tate. Bank interest received in 2023 was £75.010 compared to £4.448 in 2022. Expendilure on ChaTitable Activities higher in 2023, con￿￿Ted to the prcvious ycar (an increase of IOO/o), again r¢ll￿tillg the incrwed activity. Investment Management costs of £26,076 were 8 /0 low￿ Ihan 2022. There was a net Curial deficit after expenditure and transftrs. of £252.695 compared to a nel deficit of £966.745 in 2022. Total Curial fimds Ca￿led forward as at 31. December 2023 amounied to £7,611,403. of which £4,046,032 is reflect¢d ill tsllgible fixed assets. The summary below gives #n indication of the flliancial activities of the Diocese. 2023 2022 Pqrishes Income Deduct.. Expenditure Investment Gain$/{I￿SSes} Surplusl(D¢ficit) before Parish Assessm¢nt 3,914,867 3,549,146 (3,466,776) (3,078,314) 1.164 757 1,635,589 456,124 Parish Assessment and other transfers (D¢crcase)ffiicrea5e in reserves 595.632 563 362 2.227 Curia PoTish Assessmenl and other ITansfers Oth¢T in¢ome Total income Deduct.. Expenditure Invcstment Gains/lLosses) (Decrease) in reserves 595,632 563,362 1614 757 1325.179 22IOJ89 1.888,541 (2,580,442) (2.337,370) 117358 517916 745 GOING CONCERN The Charity's activities, together with the factors likely to affeet its future dev¢lopment, pIincipal risks and uneertainties facing the Charity and its availability of unencumbered cash reserves are set out in this Annual Rcport. Its financial position in ternls of the year's results, its assets and liabilities, and movement in casb are set out in the Principal financial statements on pages 13 to 16. Thc Trustees have considered the charity's operations for the next 12 months. as requircd. The charity has sufficient financial Tesources, mainly ID th¢ forni of cash, investrnents, and propety, to meet its obligations. There are no material uncertainties about the ChaTity' ability to continue as a going conccrn and it is wcll placcd to manage the various risks identified. The Trustee therefore has a reasonable expectation that the Clwity bas adequate resources to continue its operations for the foreseeable htur¢. A￿ording]Y the going concern basis continues to be adopted in the Preparation of the Annual Report and A¢¢ounts. RESERVES The Finance Board considers that unrestricted resaves equivalent to two years, charitable expenditure for both Parish and Curial reserves are required. In addition to recurring expenditure the Finatt¢e Board a¢knowledges that, in some aTeas, income is difficult to sustain, and has identified a number of long-terni ￿nding requirements including improvement and repair of fvn¢tional propety, Clergy retirement and training and forn)ation for which some thnds have been designated. The total Parish Funds at 31. December 2023 amounted to £26,479,844 of which £5,888,275 ￿ Testticted and £12,568,872 designaled funds Page 7 DIOCESE OF HALLAM IRonJan Catholic Diocese of Hallam Trust) ANNUAL REPORT (Continued) Year Ended 31st December 2023 The majority of Parish Funds (£16,410,646) are Tepresented by the functional properties (Churches, Halls, Presbyteries) and other fixed assets, which are integral to the operation of the Charity. Th¢ free Parish reserves of £8,022,697 represent around 29 months. PaTish expenditure, which is above the 24 months, reseryes Considered to be required for paTish¢s be¢&use of the long-tern] nature of their operations. and is expected to reduce given the expenditure required to meet 1he challenges in the coming years. Contracted commitments for amounts contracted for totalled £33.971at the Year End (2022:£278,645). The total Curial funds as at 31" December 2023 amounted to £7,611,403 of which £1,470.994 is Testricted for specific purposes. Of the remaining £6,140,409 unrestti¢ted curial funds, £2,610,292, reflected the value of thnctional PToperty and otheT fixed assets. The general reserves of £3,530,117 repre$¢nt 16 months. Curial expenditure which is less ihan tbe 24 months. reserves considered to be required because of the long-tenn nature ofthe charity's operations. The Finance Board continues to take action to review and address th¢ level of Curial reserves and the expected requirement.. INVESTMENT POLICY & PERFORMANCE Under the trust deed of the Charity, the Trustee may invest, with the ￿ttSent of the Bishop of Hallam, any money in any manDeT authorised by law (i.e. the Trustee Act 2000). In 2023 the investment portfolios continued to be managed on a discretionary basis by the investment managers, Tnv¢8te¢ Wealth and Investment L￿. The portfolios are managed in line with the ¢ihi¢al inveslment policy ofthe Trustees, which is consistent with Cbur¢b teaching and the Catholic faith. The Sick & Retired Clergy Fund and Priests, Training Fund portfolios were Tealised in November 2023 and the holdings transferred at market value to the Main Portfolio, releasing cash to those fijnds. The over811 return wa8 positive in 2023, after difficult conditions in 2022, with the Carits8 Hallam Pi)rtfolio performing better than the Main Portfolio, and both below the bencbmark. Total Retsrn Total Return Benchmark Main Portfolio Caritas Hallam Fund Sick & Retired Clergy Fund Priests. Training Fund +5.62 48.21 +4.11 +4.11 +10.02 +10.02 +7.57 to 3(V9123 +9.50 to 3019123 Portfolio elosed 22111123 Porfo]io ¢Losed 22111123 RISK ASSESSMENT The Finance Board has assessed the major risks to which the Charity is exposed, in parti¢ular those Telated to the operation. investment and finances of the Trust. By monitoring the level of reserves, ensuring control over financial systems and by examining the operational risks faced by the Ch￿lty, the Finance Board believes that effective $ystern5 have been established to mitigate those risks. FiiND-RAISING The charity undertakes small scale fund-Taising, and applications to cFtaritable trnsts for grallts. Most fi￿d-raiSIn8 builds on the ¢onnection people have with the Chur¢b tbrough their parisb and there are no direct appeals by teLepkLone or n)ailshot to individuals. The charity do¢$ not engage professional fund-raisers but does have a part time employee WI￿ deals with applications to charitsbl¢ lrnsts for grants. PLANS FOR FtrTURE PERIODS A great deal of WO￿ was underway in December 2023, and planned for January 2024, in Preparation for the Baseline Audit by the Catholic Safeguarding Standards Agency (CSSA) in February 2024. The outcome of that audit was an overall grade of "Achieving Results" whi¢lL is a ￿at testsment to the hard work carried out in implementing the recommendations from the Pilot Audit that took place in June 2022. when the grading wa8 "Earlyprogress" Th¢ Diocese of Hallam is committed to Teviewing the recommendations in th¢ Baseline Audit and bringing them into the ongoing developmental Safeguarding Action Plan, working with everyone to a¢hiev¢ success in the implementltion of further development of safeguarding pwti¢e withtn the Diocese. A $ll￿grOUp of Tn￿te¢S will continue to develop the Strat¢gi¢ Vision of the chaTity, supporting the Bishop and working with the Council of Priests and key stakeholders. The Diocese will continue to support the Catholic Multi Academy Trust plans and will work to have more of the schools of the Di0¢¢8e join either St Clare'5 OT St Francis, CMATS. Page 8 DIOCESE OF HALLAM (Roman Catholic Diocese of Hallam Trust) ANNUAL REPORT (Continued) Year Ended 31st December 2023 THtRD PARTY COLLECTIONS Parishes in the Diocese supported a wide range of charities by allowing> and often organising, Third Paty Collections. However, since these fvnds are not under the control of Diocese of Hallam Tn￿tee. these collections are not included in the results and balances of the Charity. Balances held at 31" December 2023 for thitd party ch￿ltieS are included in Creditors. GRANTS Curial and Parish grants paid out in 2023 included:_ Catholic Trnst for England & Wales {CaTEW) Catholic Education Service {CES) Catholic Safeguarding Stsndards Authority (CSSA) £29,001 £17,451 £12.504 The grants made ar¢ all in fiirth¢ranc¢ of the Ch3fAty'S objects. KEY MANAGEMENT PERSONNEL Thc kcy management personnel of ihe Diocese comprises th¢ Director of Finance and the School Commisioners.. Remuneralion for kcy management personnel is set by the Salaries Sub-Committ¢¢, taking into Consideration th¢ n]arkel rates for sin)ilar roles and is pcriodically Teviewed in order to r¢¢ognise and reward outstanding pcrfornwice. RISK MANAGEMENT The Trnstee has overall responsibility for ensuring that the Charity has an appropriate system of wntrols, financia] and otherwise. The Audit Sub-cornmittee review, annually, the risks facing th¢ charitywbich can be categoris¢d into broad headings including (l) Safeguarding (2) Ageing Clergy (3) Education {4) Financial (5) Governance. Sofeguarding - Being loved and being kept safe go to the very core of the Church's ministy. The safeguarding of children and adults at risk is of paranioiint importance to the Diocese. Failing to prevent abuse of the vulnerable has s¢rious repercussions for the individual, the mission of the Church and th¢ Diocese. To mitigate this risk the Diocese follows the policies and procedures put in place by the Catholic Safeguarding Slandards Authority (CSSA) which are ¢nfor¢ed by tbe Safeguarding departtnenL The departtnent promotes a safe recruitment policy and provides training across th¢ dioc¢se to reinforce safeguarding procedures. They also reswnd to any allegation, past or present, of inappropriate behaviollr or actual abus¢ by any member or persoll working for the Charity, paid or unpaid, liaisillg with the police and other statutory authoritics. The Tmstee Safeguarding Cornmittee oversees the work of the Safeguarding department in this respect. Th¢ Dioc¢s¢ of Hallam is committed to the promotion of a "one Church approach" to the safeguarding of children and adults at risk and th¢ promotion of a culture of safeguarding througbout the Charity. Ageing Clergy - The number of clergy in the Diocese has dccreascd si￿]ficant1Y in Tec¢nt years, and the age profil¢ of those in active rninisty is rising. In additio￿ Ibe nunther of pricsts who have retired from active ministy is tn¢Msing. The structure of parishes in each Deanery is under review and a policy and strategy to provide support for ageing clergy. Edu¢2tion - The Charity contributes to the education provid¢d in th¢ 47 Voluntary Aided and Catholic Voluntary A¢adcmy Schools in the Diocese (40 Primary Schools, 6 Secondary, 13-16 School). One of the risks identified is the potcntial und¢rpcrforman¢¢ of diocesan schools. The Schools Department monitors the perforn]anc¢ of all schools and provides support whcre n¢c¢ssary. Overall, the number of schools judged by Ofsted as -Good" has increased. Schools thal are judged "Requtred Improvcmcnt" or are at Tisk of under p¢rforn]ance ￿ceIve support from other hools in the Di0¢￿¢ as well as from diocesan oificcrs and cimsultants. On behalf of the Bishop. the Schools Department ietsins ¢anoni¢al ov¢rsight of diocesan schools in maintaining Catholic ethos and undertakes the Section 48 Inspections. The Bishop has expressed his wish that in due course all ￿h0O1$ join one of the two diocesan Multi-Academy Trusts. The Diocesan Board of EducalioD meets regularly to help facilitate the Bishop's vision for the ttvo Catholic Multi academy t￿sts across the diocese. The Board meet to support the Bishop and the schools in a wide range of matters alld ¢ompriscs of The Bishop, Episcopal Vicar for Schools. officers of the Schools, Department and the Director of Finance. The CEOS of St Clarc's and St Francis CMATS are in attendance as non-voting member8. Page 9 DIOCESE OF HALLAM IRoman Cathollc Dfioc￿e of Hallam Trust) ANNUAL REPORT (Continued) Year Ended 31st December 2023 Fin4n¢ial - Altbough the flllmcial position of the Charity is stable, fllwicing the cU￿ent level of expenditure is an identified risk at a time when income from investments (e.g. interest) is limited and there is pr¢ssure on voluntary donations (in the fonn of Parish Offertories due to the cost of living Crisis). In comrnon with most other Catholi¢ dioc¢s¢s in England & Wales, Mass attendance has fallen ovcr time. In light of this, expenditur¢ continues to be r¢viewcd, particularly in ternis of Parish Property Rq)airs. Governance - As with other dioceses, the strncture of the dioco8¢ is such that Ihe administration of parishes (in civil law) is undertaken by parish priests under the delegated authority of th¢ Trustee. Their activities, however. Temain th¢ responsibility of the Trustee. Systems and Controls are in place to monitor these activities, particularly in relation to statutory and regulatory compliance incEuding Employment, Safeguarding. Health & Saf¢ty, Propety Maintenance and Financ¢. CONNECTED CHARITIES The Di￿¢$¢ encompasses 47 Catholic schools. Two Multi Academy Trusts were fornled in 2022- St. Clare Catholic Multi Academy Trust and St. FraD¢i$ Catholic Multi Acadcmy Trust. Both of the Multi Academy Trnsts, and each of the schools are exempt charilies under the Charities Act 2011. and their activities are not reflected in the fjnancial stat¢mcnts. The Bishop of Hallam appoints Foundation GovernoTsIDirector8 to the Governing Bodies of Catholi¢ school￿AcadeMY Trnsts. and Foundation Governors/Dirrfknts fomi a majority on ea¢h body, but th¢ Multi Academy Trnsts and school$ are not branches of the Diocese. The 8ddTesses of tbe Catholic Schools in the Diocese are detailed on th¢ diocesan websile. The Bishop of Hallam. the Direclors of S¢hools and Diocese of Hallam Trnstee are Members of Diocese of Hallam Schools, Partnership (Corllpany Registration Number 08099518). Diocese of Hallam Trustee is also Trustee of St. Michael's Roman Catholic Church and Presbytry, Hathersage, STA TEMENT OF TRUSTEEIS RESPONSIBILITIES The Tn￿tee is responsible for preparing the Trustee's Report and the fmancial stat¢ment$ in accordance with applicable law and United Kingdom Accounting Standard8 (United Kingdom Generally Accepted Accounting Practice). The law applicable to Charities in England & Wales requires the Trnstee to prepare fin2n¢ial statements for each financial year which give a trne and fair view of the stste of affairs of the Ch￿lty and of the incoming re8our¢es and application of resources of the charity foT that period. In preparing these financial ststements, the Trustee 16 required to.. Select suitable accounting policies and apply them consistently. obserye the methods and principles in the Charities SORP. ￿￿ke judgemeJJts and estinute5 that reasonable and pn￿cllt. state whether applicable accounting standards and statements of recommcnded practice have bern followed, subject to any nmterial departure5 disclosed and explained in the fjnancial ststements. and prepare the financial statements on ihe going concern basis unlcss it is inappropriate to presume that the charity will continue its activitie5. The Trustee is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and cnable the Trnstee to ensure that the financial statement8 comply with the Charities Act 2011, the Charity {Account8 and Reports) Regulations 2008 and the provisions of the Trllst Deed dated 28 Octobcr 1981 {as varied 20 July 2006). Thc Ttustce is also Tesponsible for safeguarding the assets of the CFLarity a[￿ henre for taking reasonable stsps for the prevention and detection of fraud and other irregularities. The TTU$tec is rcsponsible for tbe n￿intenanCe and integrity of financial infornlation i￿luded on the charity's website. Legislation in the United Kjngdom governing the preparation and dissemination of accounts may differ from legislation in other jurisdictions. Approved by the Finance Board Df Diocese of Hallam Trustee on le October 2024 Ind signed a$ Authorl$ed by:_ E.J. Whfittaker Secretary and Director of Finance Page 10 DIOCESE OF HALLAM (Roman Catholic Dio¢es¢ of Hallam Trust) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEE OF THE ROMAN CATHOLJC DIOCESE OF HALLAM TRUST Opinlon We have auditd the fmancial statements of the Ronwi Catholic Diocese of Hallarn Trnst for the yearended 31 December 2023 88 detailed on pages 13 to 32, which comprise the Statement of Financial Activities. the Balall¢¢ Sheet, the Cash Flow Statement and not&£ to the financial statements. including a summary of significant accounting policies. The fitLan¢ial reporling frarnework that has been applied in their Preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 TheFinancial Repnrling SiandardapplKable in Ihe UK andRepublic oflreland (United Kingdom Generally Accepted Accounting P￿￿tiCc). In our opinion, th¢ financial 5taternents" give a true and view ol ibe state of the charity's affairs as at 31 December 2023 and of the charity's nct movement in funds, including the incomc and cxpenditure. for the year then ended; have been propcrly prepared in accordance with United Kingdom Generally Arrepted Accounting Practice" and havc been prepared in accordance with the requirements of the chariti￿ Art 2011. Basis for opinion We conducted our audit in accordance with the International Standards on Avditing (UK) OSAS (UK)) and applicable law. Our responsibilities underthose stsndards a￿ further described in the Auditor's responsibiliti¢$ for the audit ofthe financial statements section of ovr Teport. We aTe independent of the charity in accordance with ethical requirements that are relevant to our audit of the fmancial ststements in the UK including the FRC'S Ethical Standard, and we have fulfillcd our other etbical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient aod appropriate to provide a basis for our opinio Conclu￿On$ relating to going concern In auditing the financial statements, we have Concluded that the Trustee's use of the going concern basis of accounting in the preparation of the finah¢i#l statements is appropriate. Based on the work we have pcrfornie(L we have not identified any material uncertainties relating to events or conditions tha( individually or collectively, rnay cast significant doubt on the ¢h2rity'S ability to ¢ODtinue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue, Our responsibilities and the responsibilities of the T￿Slee with respect to going concern are described in the relevant sections of this Other infonnatlon The Trustee is responsible for the other iDfom]ation. The other inforn￿tion compTises the infornmtion included in the Trustees. Annual Report, other than the financial statements and our auditor's report thereon. Our opinion OD the financial statements does not cover the other infom]ation and, except to the extent othenvise expliritly stated in our report, we do not express any fom] of assuran¢c conclusion thereon. OurTesponsibility is to read the oiher inforn￿tIon and. in doing so. coDsidcrwhether tbe other infornthtion is materially consistent with the fitwicial statements or our knoWI￿ge obtained in the audit OT othenvise appears to be rnaterially misstated. If wc identify such material inconsistencies or apparent matcrial misstatcmcnts, wc arc required to detemiine wheth¢r there is a rnaterial misstatement in the financial statements or a Mat￿la1 n]isstatement of the other ]nforn￿tion. If, b&8ed on the workwe baveperfrirn]cd. we Conclude that ther¢ is a n￿terIal misstatcmcllt of this othcr inforn)ation, we are required to report that fact. Wc havc nothing to report in this TegaTd. Matters on which we are required kn report by esception In the light of the knowl¢dg¢ and undustanding of the charity and its environment obtained in the course of the audit. we have not identified material misstatements in the Trust¢e8' Annual Rq)ort. We have nothing to report in re8pe¢t of the following matters in ￿latiOn to which the Charitic5 (Accounts and Reports) Regulations 2008 requires us to Teport to you if, in our opinion: the information given in the Trustee's Annual Report is in¢onsist¢nt in any material respect with the fmancial statements. or adequate a¢¢ountiDg records have not been kept by the charity. or the ¢harity's fjnancial statements are not in agreement with the accounting rewrds and returns. or certain disclosures of trustees, remuneration spe¢ified by law are not made; or we have not received all the information and explanations we require for our audit. Page 11 DIOCESE OF HALLAM Oioman Catholle Dfioe¢se of Hallam Trust) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEE OF THE ROMAN CATHOLIC DIOCESE OF HALLAM TRUST Re$pon$lbllAtie8 of the Trustee for the flnanclal Statements As explained more ￿llY in the Trustee's Responsibilities Sialement set out on page 9, 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 intemal controls as the Trustee dettrnjines is necessary to enable the PTeparation of fmancial statements that are free from material misstatemenl whether due to fraud or error. In preparing the financial statements, the Trnstee is ffsponsible foi assessing the charity'8 ability to continue as a going ¢on¢ern, disclosing, as applicable, matters Telated to going concern and using the going ¢ott¢ern basis of a¢¢ounling unless the trnstees either intend to liquidate the charity or to ¢e4se operations, OT have no realistic alternative but to do 80. Audltor's responsibilities for tbe audit of the flnAn¢fial statements We have been appointed as auditor under Section 144 of the Charities Act 2011 and rep)rt in accordance with regulations made under that Act. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud OT error, and to issue an auditor's report that in¢lud¢s our opinion. Reasonable assurance is a bigb level of assurance, but is not a guarantee that an audit ￿ndUCted in accordance with ISAS (UK) will always detect a material misstatement when it ￿lsts. Misstatements can arise frotn fraud or ¢m)r and aTe considered ￿￿teria] if, individually or in the aggregate, they could re￿OnablY b¢ expe¢ted to influence the economic decisions of taken on the basis of these finan¢ial statements. In ac¢ordance with ISAS (UK) we exercise profe5sionaljudgrynent and maintain professional s¢epticisrn throughout the audit. ]rregularitie5. illcluding fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. out]in¢d above, to detect rnaterial misstatements in respe¢t of itregularities, including fraud, Th¢ Specific procedures for this engagement and tbe extent to wbi¢h these are ¢apabl¢ of detecting irregularities, including fraud are detailed below. Extent to whlch the audlt WA$ ¢onsldered ¢ap4ble of deteethig trregularltles Including fraud As part of designing OUT audit, we detennined materiality and assessed the risk of material misstatement in the financial $tatements and lookmg how fraud may occur by enquiring with management as to its own ¢onsideTation of fraud. tn p2rti¢ular, we looked at where management made subjeetive judgements, for example, in Tespect of significant a¢¢ountin8 estimates that involved making assumptions and considering future events that are inherently w)cenain. We also considered potential finan¢i81 or other pres$ur¢s, opportunity and motivations for fraud. As part of the discussion we identified the intemal controls eslablished to mitigate risks related to fraud or non- complianc¢ with laws and regulations aDd how management monitor these processes. Appropriate procedures included the review and testing of materAal adjusting journals and key estimate5 and judgements by management. We gatned an understanding of legal and Tegularity framework applicable to the ¢haTity and the sector in whi¢h it operates, drawing on our audit experience and knowledge of the charity and its s¢¢tor, and considered the risk of a¢ts by the charity that were contrary to these laws aDd regulations th&t could give rise to a material mlsststen￿llt in the financial statements, including but not Limited to... The Charities Act 2011 Charities (Accounts and Reports} Regulations 2008 Guidance i$su¢d by the Charity Conllnission for England & Wales UK Health & Safety legislation UK employment legislation We also made enquiries with the Trustee with regards to compliance with the above laws and regulations and obtained any necessary evidence to co￿obOrate the ]nforn￿tIOn provided. for ex2mple minutes of nleetings and correspondence with relevant authorities to identify potential material misstatements arising We have identified Tevenue recognition, management override and Completeness of related party transa¢tions as key auditmatters relating to irregularities, including fraud. We have evaluated the Trustee and its management's incentives for fraudulent manipulation of the finan¢ial ststements, including the risk of management overriding controls, 2nd identified that the principal risks relate to management bias in accounting estirnates and judgmentsl areas of the financial statements such as revenue recognition. The following audit work was undertaken in response to the risks identified: Enquiry of management, those charges ￿7th governance, and the charity's solicitOTS around acttlal and potential litigation and claims Enquiry of management to identify any instances of non-compliance with laws and regulations Reviewing minutes of meeting8 of th08e ¢harged with governance. Reviewing key sources of estinution uncerlainty testing to Supporting documentatio￿ ensuring reasonableness of assumptions and consistently applied. PAg¢ 12 DIOCESE OF HALLAM Oioman Catholi¢ Diocese of Hallam Trust) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEE OF THE ROMAN CATHOLIC DIOCESE OF HALIAM TRUST Reviewing financial statement disclosures and lesting to supporting documentation to assess compliance with applicable laws and Tegulations. Auditing the risk of management OVe￿idC of controls. including through testing journal entries and other adjustments for appropriateness, and evaluating the rationale of significant transaction8 Outside the norntsl course of the chaTity's operations. Idcntifying relatcd partics and ensuring ttansactions are complete and testing tr) available supporting docunJ¢ntation. Reviewing key in¢ome $ourc¢s for Completeness and ensuring cut-off has been acceptably applied. Our audit procedures were designed to respond to risks of material misstatement in the financial statements, Tecognising that the risk of not de*cting a material misstatement due to fraud is higher than the risk of not deteeting one resulting from eTror, as frdud may invofve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There aTe inherent limitations in the audit procedures perfornled and the fiwther removed non-¢omplian¢e with laws and regulations are frorn the events and transactions ffflected in the financial 8tstements, the less likely we are to become aware of it. A ￿rther description of ovrresponsibilities forthe audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.or .uklauditors res nsibiliti¢s. This description fonns part of our auditor's report. Other matters which we are required to address The financial statements for the year ended 31 December 2022 were prepared by Warrens GBS Limited, the charity'5 prcdecessors auditor. The predecessor auditors issued an unqualified audit rq￿rI on thc financial statements on the 22. January 2024. Use of our report This report is made solely to the charity's trustee, Diocese of Hallam Trusle¢, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008 and the Charities Aci 2011 and regulations made under section 154 of that A¢t. OUT audit wo has been undertaken so that we n)ight state to the Ch￿Ity'S trustee those matters we are required to state to them in an auditors. report and for no other p￿￿oSe. To the fullest extent perniitted by law, we do not accept or assume responsibility to anyone other th￿ the charity's trust¢e, as a body, for our audit work, for this report, or for the opinions we have forn)ed. Warrens Accountants Limited Stslutory Auditor 33 Thorne Road, Doncaster. DNI 211D Date: 11 December 2024 Warrens Accountants Limited is eligible to act as an auditor in temts of Section 1212 of the Companies Act 2006 Pag¢ 13 r4 C eq Page 14 DIOCESE OF HALLAM P4e IS (RomAn Catholic Dlotese of HAll&m Trust) BALA￿CE SHEET AS AT 31st DECEMBER 2023 2023 2022 Parffishes Curla Total Parishe$ Cur12 Total Not FIXED ASSETS TaDgible Fixcd Assets ]nvestments 12 16.410,646 4,046.032 20.456,678 13 4.396.232 3.844.077 8.240.309 16,810,232 3,891.413 20.701,645 4.460,412 3.748.501 8.208.913 20,806.878 7.890.109 28.696,987 21,270,644 7,639.914 28,910.558 CURRENT ASSETS Debtors Cash at BaDk & on Deposit 14 156,186 882,673 1,038,859 1,680,001 3,720.986 5,400,987 110,619 1.269.283 1,687,801 3,656,940 1,379.902 5,344,741 1,836,187 4,603,659 6,439,846 1,798,420 4,926,223 6,724,643 LIABILITIES: Amounts falling due within one year 15 IYET CURREIYT ASSETS (143,237) (902.349) (1,045.586) (55,192) (1,096.559) (1.151.751) 1.743.228 3,829,664 5,572,892 1,692,950 3,701,310 5,394,260 PARISH LOAN ACCOUNTS Loans to Parishes Parish Deposits {2,510,034) 2,510,034 6,490,050 (6,490,050) (2.616.069) 2,616,069 6,221,549 (6,221,549) TOTAL IYET ASSETS 26,479,844 7,611,403 34,091,247 26,619,352 7,864.098 34.483,450 REPRESEI¥ITED BY INCOME FUNDS:. Restri¢ted Funds 16 5,888,275 1,470,994 7,359,269 6,050,530 1,672,868 7,723,398 Unr¢$trficted Funds Designated Funds Other Unrestricted Fknnds 17 12.568.872 3.188.413 15,757,285 17 8.022.697 2.951.996 10.974.693 12,839,061 2,991,872 15,830,933 7.729,761 3,199,358 10,929,119 26,619,352 7,864,098 34,483.450 18 26,479,844 7,611,403 34,091,247 The fmancial statements on pages 13 to 32 were approved by the Finance Board of Diocese of Hallarn Trustee, as sole Trnstee on 16th October 2024 and $ign¢d on its behalf by:_ The Right Reverend Ralph Heskett, C.S8.R. Page 16 DIOCESE OF HALLAM (Ron)an Cathollc Dloces¢ of Hallam Trust) CASH FLOW STATEMENT For the Year Ended 31$t De¢ember 2023 2023 2022 Net Cash (ourflow)Ilnllow from operathig aellvfities (Note a) 319,850 (219,033) Invegting activiti Dividends attd interest received Purchase of tangible fixed assets Purchase of investments Proceeds from sale of fixed assets Pn)ceeds from sale of investments Net cash inflow (oufflows) from investing activities 173,994 (568,925) (1,457,474) 37.332 1,551.469 91,968 (248,468) (350,536) 372.528 (263,604) (134.508) Increas&(DetteAse) In ¢ash 56246 (353A41) Re¢on¢lllatlon of Net C￿h flow to movements In net fllnds In¢rease/(De¢r¢ase) in cash in the peTiod 56,246 (353541) Cash Funds at lit January 2023 5,344,741 5,698282 Cash Funds at 31° December 2023 5,400,987 5,344,741 The charity has no dis¢io8abl¢ debi, and ¢onsequently the cash at bank aDd in hand. 15 also the net debtlfvnds reconciliation. Notes to the Cash flow StstsmeDt ) Reconciliation of net (outgoing)fincoming resources to net ¢ash inflowl(ouffloiY) from operatlng activltles=_ 2023 2022 Nct incomillgl (outgoing) resources Dividends & interest received Depreciation Decrease/(Jncrease) in Debtors (Decrease)Ilncrease in Creditors Profit on disposal of fixed assets Net (Gains)ILosses on Investhients (392203) (175,761) 813,892 342.810 (106,165) 37,332 {125,391) 105.482 (91,968) 808,713 {773.747) 379J28 (646,841) 319,850 {219,033) b) Changes In eash 4nd ¢asb equlyalents 2023 2022 ChAhgt in yeor Cash at Bank and Short Tem] Deposits 5.400,987 5,344,741 56,246 Page 17 DIOCESE OF HALLAM (Roman Catholfic Dlocese of Hallam Trust) NOTES TO THE FINANCIAL STATEMENTS Year Ended 31st December 2023 The financial statements principally reflect the incoming resources and applicatioll of resources ofthe main charity, Roma Catholic Diocese of Hallam Trust and include Parishes, Diocesan Agencies, and Diocesan OTganisations. The financial statements al80 reflect a number of small indivithlal parish trusts and separately registered diocesan charities, which are under the Control of Diocese of Hallam Twstee, including the J.J. Eyrc Funds arLd St. Charles Charity (ChaTity Registration No. 1049619). Accounting policie5 B￿18 of preparation The financial statements have been prepared in accordance with the accounting policies set out below and comply with the charity's trust deed, the Charities Act 2011 and Accounting and Reporting by ChaTitics'. Statement of Recommended Practic¢ applicable to Charities preparing their a¢¢ounts in accordance with the Financial Rq)orting Standard applicable to the UK and Republic of Ireland (FRS102). The fllwicial stst¢m¢nts have been drawn up under the historical cost convention as nwdified by the revaluation of investments and are presented in sterling, wbich is al80 the fun¢tional ¢utren¢y of the charity. Flnandal Instruments Classificalio Finan¢ial &8$ets and fjnarLei￿ liabilities are recognised when the cfftlarity becomes a party to tbe ContractL￿1 provisions of the tnstrnment, Financial liabilities and equity instruments are classified acconling to the subst8nce of the contractual arrangements entered into. Recognilion and measuremenl All financial assets and liabilities are initially rneasuTed al transaction price (including transaction costs) except for those financial assets classified as at fair value through the Statement of Financial Activities, which are initially measured at fair value (which is normally the Iransaction price cxcluding transaction costs), unless the arrang¢m¢nt constithtes a financing transaction. If an aThangement constitutes a financing transaction, the finan¢ial asset or f￿anCIal liability is measured at the prescnt valuc of the futUTC payments discounted at a market rate of interest foT a similar debt instrumellt. Financial assets and liabilities are only offset in the statement of fillallcial position when, and only when. there exists a legally enforceable right to set off the ￿OgnISed tllnounts and ihe charity intends cithcr to settle on a net basis, or to realise the asset and settle the liability 8irnultsneou51y. Financial assets are derecognised when, and only whej), a} the contractual rights to the cash flows from the fmancial asset expire or are setiled, or b) tbe charity traDSfcrs to anothcr p3ty substantially all of the risks 2nd rewards of ownership of the financial asseL or c} the charity, despite having retsined some, but not all. significant risks and rewards of ownership, has tran5fctTcd control of thc assct to another pty. Financial liabilities are derecognised only when theobligation specified in the ¢olltr￿t is discharged. cancelled or expires. Debh)rs Debtors are recognised initially at the transaction price. They are $ub$equ¢ntly measured at amortised ¢ost using the effective interest method, less provision foT impaimenl. A provision for the impairnient of debtors is established when there is objective evidence that the charity will not be able to ¢olle¢t all amounts due according to the original tenrjs of the receivables. Loans Teceivable are measured initially at fair vaIue, net of trdnsA¢tion costs, and are measured sub$equ¢ncly at amortised Cost using the effective inteTest rdte method. Debtors classified as re¢oveTable within one year are not amortised. Page 18 DIOCESE OF HALLAM (Rom*n Catholic Diocese of H%llYdm Trust) NOTES TO THE FINANCIAL STATEMENTS Ye*r Ended 31st Dtcember 2023 Credfitors Creditors are re¢ognised initially at the transaction price. They are subsequently mca5ured at amortised cost using the effective interest method. Credttors payable within one year are nol amortised. Judgements and key sour¢e% of estin)ation uncertafinty The preparation of financial statements requires the Tn￿tee to make judgements, estimates and assumptions that affect Ibe application of policies and ryorted amounts of assets 2nd liabilities, income and expenses. The estimates and associated assumptions are based on historical exp¢rien¢¢ and other factors, including expectations of future events that are believed to be reasonable under the ciwumstan¢¢s, The actual outcome may diverge from these estimates if other as8umption$ ￿¢ made, or otber condition5 arise. Significantjudgemexts In the course of preparing the financial ststements, tbe following significant judgements have been made in the process of applying the charity's accowititig poli¢i¢s:_ assessing the probability of the receipt of legacy income. assessing the appropriatcness of the assumptions and methodology used in detennining the fair value of investment properties,. detenDining the value of the designated fimds needed at the year end to meet specific fvture expenditutt: Key sources ofu¢ima(ion untertointy A¢¢ounting estimates and assumptions are made concerning the filtute and by their nature, will rarely equal the related actual outconje, The charity does not bave any key assumptions concerning the future, or other key 50UTces of estimation uncertainty in the reporting period that may have a significant risk of causing a mataial adjustment to the Ca￿]llg amounts of assets and liabilities within the next fin2n¢ial year. Nottvithstanding this, the charity is required to make estimates as detailed below: estimating the accrued expenditure including employees. accrned holiday pay" estimating the useful ¢¢onomic life of tangible fixed assets to detennine a depreciation charge; estimating the Cost of the fiInction￿ r￿ed assets, including propety. that were held at 31" December 1996. As8￿$￿tTht of Golng ConcerD The Trustee consideTr that there are no material uncertainties about the tn￿t'S ability to ¢ontinue as a going concern. In¢ome All income is recognised once the charity has entitlement to incorne, it is probable tbat the income will be received and the amount of the income receivable can be measured reliably. Donations Donations arc recognised when the charity has been notified in wtiting of both the amount and settlement dale. tn the event that a donation is subject to conditions that require a level of perf0M￿]Ce by the Charity befor¢ the charity is entitled to the fimds, the income is defrrred and not recognised until either those conditions aff fully meL or the thlfilment of Ihose conditions is wholly within the control of the charity and it 18 probable that these conditions will be fulfilled in the reporting peLlOd. Grants r¢ceiv41bl¢ Grants are recognised when the charity h&$ an entitlement to the thnds and any conditions linked to the grants have be¢n met. Where perforn)ance conditions are attached to the grattt and are yet to be met, the income is recognised as a liability and included on the Balan¢¢ Sheet as deferred income to be released. Page 19 DIOCESE OF HALLAM (Roman Cathollc Diocese of Hallam Trust) NOTES TO THE FINANCIAL STATEMENTS Year Ended 31st December 2023 Fund A¢¢ounrfng Diocesan activities fall into two ¢ategories: Cl Parishes transactions relating to individual Parishes Within the Diocese. Q Curia transactions concerning the Diocese as a whole. The Funds of the charity are analysed into Restricted and U]Jrc5trictcd Fulli&. Reslricied Funds represent arnounts rcccivcd for a specified pwpose which had not be¢n expended at the Balance Sheet date. P8ri5h property subject to a Special Tn]st is also reflected in th¢ Restricted Fund balanccs. Unrestricted Funds represent amounts available for the general purposes of the ¢harity. Within Unrestricted Funds. Designated Funds reflect the amounts S¢t-a5ide for particular projects or purpos¢s, but which may be spent for other general charilable purposes. The Ststemellt of Financial Activities details Parish and Curial incoming resources and resources expended, analysed between Unrestricted and Restricted Funds. Parish Income is. under Canon Law, under the ¢ontrol and direction of the P￿iSh Priest who exercises his ministy under the authority of the Bi8hop. Although the Finance Board of Diocese of Hallarn Trustee has ultimats responsibility under civil law for these fimds, the juridical peison who holds Parish Funds is the Parish Priest, and these funds are unrestri¢tcd only in ternis of their use wiihin the individual parish. 2.3 Tangible Fixed Assets Freehold and Leasehold Land Bulldlll (a) Funedonal Land and Bulldlngs Chur¢bes. PTesb les Church Halls. Offices etc. Freehold Land Functional Land. {i.e. land used for the prime purpose of the Charity), is included in the financial ststernents al original cosL or where this is not availabl¢ at an estimate of its historic cost (or in the casc of donated land or land acquiTed at nil cos¢ at its fair value at the date of receipt). Freehold land is Dot depreciated because it has an ind¢finilely long u5cful life. xi) Freehold Buildings Functional Buildings (i.e. buildings used for the prime purpose of the Charity), which arc 5ti11 in use by the ChaTity are includcd in the financial slatements at original cosL or in the case of buildings transfe￿ed at nil cost on the forniation of the Diocese, at an estimate of their fair value at the date of acquisition. All new functii)nal buildings, improvements and major renovations are capitalised at the c05t of conslTuction. Buildings which were in use al 315t December 1996, and additions since that date. aTe depreciated at ratcs ca]culated to write off tbeir estimated hisloric rost (les5 th¢ ¢stimat¢d ￿SidUal value) evenly over the whol¢ of their llsefi￿ life. The estimate of th¢ useful life of 8 building vaTies depending on the condition and future use of the building. However, in generdl it is expected that a building in a reasonable stste of repair will continue in usc without major renovations or improv¢ments for the following period.. (a) Unlisted Chur¢h¢s 25 to 100 years Ib) Cathedral and Listed Chur¢hes 100 to 200 years (c} Presbyteries 25 to 50 years (d} Other buildings 10 to 75 years Depre¢i4tion rates are caloulated using the age of the building and its expected useful life. Page 20 DIOCESE OF HALLAM IRoman Catholic Dlocese of Hallam Trnst) NOTES TO FINANCIAL STATEMENTS Year Ended 318t Decelnber 2023 Padley Martyrs ChapeL Grtndleford, Derbyshire is not depreciated because it was built c.1400, is a Grade I listed building and is considered to have an extraordinary long life that cannotbe detennined. The charity does not recognise this heritsg¢ asset in its BalAn¢e Sheet as detsils of its cost and initial valuation aTe not held, given the nathre of the asset and its longevity. The ¢ost of obtaining a value is not commensurate with any benefit to the users of the ac¢oullts and given the religious nathre of the asset it is extremely unlikely that the monetary value (from sale) will ever be recognised by the charity. The cost of obtaining a valuation has been Considered by the ¢harity and it believes it is not justified by the usefulness of th¢ infomiation to the users of the accounts. iii) Leafehold Land andBuildings Leasehold land and buildings aTr depre¢iated over the life of the Icase on a straight-line basis. Details and addresses of the Dlocesan churches and other buildings (both freehold and leasehold) can be found in the Diocesan Year Book Volun Aided Schools & Catholic Volunta Academies The ¢harity owns the land on which its Voluntary Aided Schools are built, and the land oc¢upi¢d by Caiholic Voluntsry Academy Trusts and Catholic Multi Academy Trusts. Each Trustlschool is att exempt charity under the Charities Act 2011 and 0￿￿pIeS the 18nd rent-free. The nature of the occupation of the land by these exenipt charities means that the Diocese's TNslee does not have the power to dispose of the land until the school Ceoses its occupation, wbi¢h in lum would require the approval of the DirectorslGovernors 2nd the Secretary of State and may involve the recovery of grant- aid by the DtE. Consequenty such knid is not in direct use by tbe ¢baTity, does not generate any iti¢ome, cannot be disposed of on the open market, and Cannot be used for any other purpose during the s¢hools' occupation. In view of these restri¢tions, the Trustee believes the re¢overabl¢ amount of these assets is nil and they are included at nil valuation. ii) Buildings The School buildings are occupied, inwroved, extended and repaired by the School GovernorslAcademy Trusts. The natyre of the o¢¢upatioD of the buildings by these exempt charities means that the Diocese's Trustee does not have the power to dispose of the buildings until the school ceases its occupation, whtch in turn would require the approval of the Governors and the Secretsry of State and may involv¢ the recovery of grant-aid by the DtE. Consequently such buildings are not in direct use by the charity, do not generate any income, ¢aDnOt be disposed of on the open market, and cannot be used for any other purpose during the schools. occupation. In vtew of these restrictions, the Twstee believes the recovernble amount of these assets is nil and they 8T¢ included at nil valuation. The School Governors/A¢ademy TNst5 account for the building, improvement and repair costs of the schools and a¢wunt for any grdnts received in respect of these costs. Grants made by the Diocese tluough the Diocesan Schools, Building Fund (OT occasionally via parishes) to the Governors of Voluntary Aided S¢bools in order to assist them with their Iiabi]ity for school building costs are charged to the Ststement of Financial Activities in the year of payment. As at 31" December 2023 there were 28 Catholic Voluntary Academies (5 High Schools and 23 Primary schools), together with 15 Voluntary Aided Catholi¢ Prinw Schools. I Volunlary Aided Joint Catholi¢ and Church of England Primary School, I Volutstary Aided Catholic High School. l Joint Catholic & Church of England Academy primary school and I Joint Catholic ar￿ Church of England 3-16 Academy in occupation of land and buildings. The charity owns tbe freehold of 46 of these premises in their entirety, and th¢ freebold and leasehold of one split-site High School. Further detsils of the Dio¢esan Voluntary Aided Schools and Catholic Voluntary Academies, are given on th¢ Di0¢¢san website. (b) Inveslment Propertles and Donated Property awattlng Sale. Investment Pro erties Investment properties are shown at the Trn$tee's best estintste of market value. The majority of the Investment Properties were professionally valued as at 31" December 2022 and all are valued professionally at least every five years. The Investment Properties are spread a¢ros$ the Dioces¢. and consequently Ihe revaluation was carried ou( principally by Comrnercial Property Rotherham Ltd with other local valuers being used for some investment properties. The Finance Board of Dio¢¢se of Hallam Trustee annually reassesses the value of the investment propety Portfolio. Any change in value during the year is reported in the -Oiher Recognised G47inS & Losses" section of the Statement of Financial Activities. Further details of the basis of the valuation are given in note 13 to these financial StateM￿lS. Investment Properties are reflected at markel value, therefore no clwge for depreciation is rnade in the financial statements in accordance with accounting standaTds. Page 21 DIOCESE OF HALLAM (Roman Catholk DIo¢¢8¢ of HallAm Tru$¢) NOTES TO THE FINANCIAL STATEMENTS Year EDded 31st December 2023 Flxtures Flttln andE ul ment Acquisitions with a Cost (or fair value in the case of donated items) in excess of £5,000 are ¢apilalis¢d. They are depff¢iated at Tates calculated to write off the cost, less the estinuted residual value of each &88et evenly overits expected us¢fvl life as follows:. Fixlures and Fittings Office Equipment Computers General Equipment Church Fixtures & Fittings Presbytery Fixtures & Fittings ResidentiaVDay Centre Furniture & Equipment Motor Vehicles 10 years 5 years 3 years 5 years 10 to 50 years 5t0 IOy¢ars 4 to io years 200/0 Reducing Balance Works of Art aDd Hlstorlc Treasures Indiv1th￿l Work8 of A¢ Historic TTeasuTes and Plate are not ¢apitalis¢d as they have extraordinary long lives and Jre worth prese￿Ing perpetually. 2A Inv¢$tm¢nts Inveslments are ststed at their market value as at the Balance Sheet d*e. The Statement of Financial Activities includ¢s the net gains and losses arising on revaluations and disposal8 throughout th¢ year. 2.5 Fore4gD currency transacdoni The financial ststements are presented in Sterling, which is also the fimctional ¢urren¢y of the charity, Tr4nsaction8 in cumcies other than the functional ¢uTren¢y of the charity, are recorded at the rate of exchange at the date the transaction oCCu￿ed. Monetary items denominated in other ¢urrenci¢s are traDslated at the rntc prevailing at the end of ibe reporting paiod. All differences are tsken to the relevant Support Costs elem¢nt of the Ststement of Financial Activities. 2.6 Pension wsts Contributions towards employee's peTrono1 pension schejnes and a gro￿ personal pension scheme for employees are charged to the Statement of Financial Activities in the year in which they become payable. The Diocese is neither liable to finance any fimding shortfall, nor entitled to benefit from any over-funding. Durtng the year contributions were made for one employee to the Teachers, Pension S¢h¢me {*he TPS"}. an unfunded multi-¢mployer defiued benefits p¢nsion scheme governed by the Teachers, Pensions Scheme R¢gulation$ 2015, The employer's contribution is set by the TPS. As at 31° December 2023 the rote was 23.680/0 (including a scheme administration levy). The TPS repre8¢nts a ¢olle¢tive scheme and it 18 not possible to separately identify the assets and liabilities attributable to a particular employer. The Diocese h&$ neither a eothmitn￿llt to make good any a¢tyarial d¢fi¢it, nor an entitlement to benefit from any over fimding. Retir¢m¢nt and other pension benefits are paid by public fvnds provid￿ by Parliarnent. 2.7 Cash at bank alld fin band Cash and cash equivalents are basi¢ financial assets and include cash in hand, deposits beld at call with banks, other short- tem] liquid investment5 Wlth original maturities of three months or les$. and bank overdrafts. Bank overdrafts are shown within borrowing5 in cutrellt liabilities. Publie Benefit The clwity operates for the public benefit in a¢cordan¢e with the Charity Commis$ion'6 guid￿¢¢. Page 22 DIOCESE OF HALLAM (Roman CAtholic Dlo¢ese of Hallam Trust) NOTES TO THE FINANCIAL STATEMENTS Year Elldtd 31$t D¢¢ember 2023 Grants Parishes 2023 Curla 2023 Total 2023 Total 2022 GoveTnment Grant: National Lottery Government Grant: GBS Horne Office Other Grants 26,100 26.100 45,000 3.141 153.449 10.458 79,170 89,628 10,458 105.270 115,728 201,590 Income from Chy4ritable Activities Parishes CuTia 2023 Tot81 2023 Total 2022 2023 Repositories. Bookstalls & Sale of N¢wspaper8 Chaplaincies Qther Parish ¢haTitable income St. Wilfrid's Centre St. Wiifrid's Place Caritas Hallam Schools, Department Project Management and Administration Finattce Department Forn)ation & Mission Pastoral Centre Tribunal Youth Ministy National Schools. Singing Programme St. Vincent's Missiot)Hub Lourdes Pilbryirnage Walsingham Pilgrirnage 31,855 12.858 48.849 31,855 12,858 48.849 198.489 83,796 204,273 233.721 105,380 4,713 1,825 5.932 550 22,398 30,610 20.723 57,849 161,866 75,657 157,663 236,273 198,489 83.796 204,273 233,721 105,380 4,713 1,825 5,932 550 22,398 5,000 4.886 214.645 588 2.220 1,730 4,969 1,350 2,758 4.886 214,645 588 2,994 183,742 1.363 93,562 1,086,196 1.179,758 941.767 Other Investment Incom¢ Parishes 2023 Curia 2023 Total 2023 Total 2022 Intsrest on casb deposits Listed tllvestment income and other investment income Member's Award - Illter-Dio¢esan Fuel Management Ltd 2,027 2,911 75,010 95,813 77,037 98,724 5,055 86,913 4,000 4.938 170,823 175,761 95,968 Expenditure on Raising Fund$ Parishes 2023 Curia 2023 Total 2023 Total 2022 Fund-raising costs Bank Charges Investment Management Costs Invcstmcnt Property Management & Expenses 20,464 34,600 11,509 2,162 26,076 31.973 29,775 36,762 32,315 26,076 28.432 41219 110.163 41219 96,283 39,747 136.030 200,685 Page 23 DIOCESE OF HALLAM (Roman Catholic Diocese of Hallam Trust) NOTES TO THE FINANCIAL STATEMENTS Year Ended 31st December 2023 7. Charltable Actlvltles Direct Costs Support Costs TotAI 2023 Totsl 2022 Purish¢s Church Altsr & Liturgy Parish g¢neral running costs Propety repairs and rnalnt¢n￿ce Clergy costs including travel expens¢s Staff Costs Depre¢iation R¢pository, Bookstall & Newspaper expellses Grants to Schools Payments to Religious Orders re Parish Sisters Prof¢ssional fees her Donations & Grants 120,831 1,215.603 633,430 380,469 241,962 683,314 32,457 120,831 1.215.603 633,430 380,469 241,962 683,314 32,457 108.719 813.776 584,644 387,218 227.466 684,832 26.424 2.000 17,106 3.960 17,106 17,106 5.472 39,849 3 370,493 5.472 3,365,021 5,472 2915 195 Dffireet Costs Support Costs Total 2023 Tol*l 2022 CHrld Bishop of Hallam's Office & Mensa General Dioc¢san Exp¢ndityre Camino Grant Saf¢guarding MissionHub & University Chaplaincies Hallam Pastoral Centre Schools, DepaTLment Forn)ation & Mission CMAT Sebjp costs Property D¢partm¢nt Health & Safety Tribunal Youth Ministry Finance Department Communication Cler8y Forn￿tion & Training Clergy Conferenc¢ & cl￿gY Support Sick & Retired Clersy National Levies Grants to Schools (Diocesan S¢hools' Building Fund) Caritss Hallam Padley Chapel St Wilfrid's Centre St Wilfrid's Place Burghwallis Hall (fomier St Anne's Rest Home) PilgTimag&4 Professional f¢¢s National Schools. Singing Pr()gramme 87,977 30,614 87,977 31211 78,682 30,469 4,715 85,861 59,801 16,263 294,334 47.645 597 91267 64,467 17,601 279,772 51,914 140.835 58,318 15,288 39,444 84,154 91,267 64,467 17.601 279,772 51,914 140,835 58.318 15288 39.444 84,154 94.483 8,042 53,442 33,396 166,514 59.706 7,062 312,282 3,878 436,069 60,111 3.615 260,382 62.358 60,526 15236 38.564 51,573 90.513 12,344 78.312 15,237 200.998 56JOO 12,717 281,641 3,784 428.259 62,743 4.563 212,645 55,961 118 94.483 8,042 53,442 33,396 166,514 59,706 7,062 307,002 3,878 425,448 59,637 3.615 260,382 5,280 10,621 474 62.358 17.107 2 366,882 173 813 2.540,695 Page 24 DIOCESE OF HALLAM (Roman Calholle Diocese of Hallam Trust) NOTES TO THE FINANCIAL STATEMENTS YeAr Ended 31st D¢¢¢mb¢r 2023 Allocated Support Costs P4rl$he$ 2023 Curia 2023 Total 2023 Total 2022 Finance Deparljnent & Trustee meeting costs Governance - Legal & Other Professional Fees Audit Acwuntancy 95,080 95,080 12,132 16,470 55,603 90,919 7J80 15,072 54,328 5.472 16.470 55,603 5,472 173,813 179,285 167,699 Total 2023 Total 2022 Staff Costs Salaries So¢ial Se¢urity Costs Pension Costs 1,289,868 88.591 64,229 1,160,390 85,051 62,791 1,442,688 1,308232 Av¢rA8e number of ¢mployee8:_ 2023 2022 Direct Charitable activities Parlshes 53 54 Curfi4 Diocesan Departments & Agencies Diocesan Organisalions 20 34 20 29 107 103 The number of employees whose emoluments fell within the following band was:. 2023 2022 £60,001- £70,000 £70,001- £80,000 During tbe year, pension contributions for the above amounted to £10,361 (2022.. £30,037). Th¢ cost of Key management personnel (salary, employer's national insurnnce and employer's pension contributions) was £223.864 (2022: £230.076). Clergy are not included within the above as they are Office Holders and not employees of the Charity. Payments to Clergy amounted to £452,307 {2022: £459,613). Payments to Religious Orders for Parish Sisters #mounted to £17,106 (2022: £17,106). addition to employ¢¢$. the Charity has a number of unpaid volunteers who h¢]p iti thc parishes and in Dioces8n Organisations. Pvdge 25 DIOCESE OF HALLAM IRoman CAthollc Dfioeese of Hallam Trnst) NOTES TO THE FINANCIAL STATEMENTS Year Ended 31$t December 2023 io Trustees (Flnan¢e Board Members) Information The sole Trustee of the Roman Catholi¢ Diocese of Hallam Trust is a TNst Corporation, Diocese of Hallam Tn]stee. The directors of Diocese of Hallam Trustee are known as Members of the Finance BoaTd and are Trustee5 in Ig4W. None of the Members of the Finance Board received remuneration for their role as Twstees. Four Members of the Finan¢e Board who served during the year are Roman Catholi¢ PTiests of the Diocese, and were hou$¢d and remunerated within their parishes. To assist him in the perfornwice of his duties, the Bishop is provided with a house, and his expenses in canying out his oifice ar¢ met from Curial Funds. The lotsl remuneration received by the Clergy Tru5tee5 through their ecclesiaslical Office (and not through tbeir position 88 trustees) was £38,315 (2022: £40204). None of the Members of the Finance Board Teceived any reimbursernent of expenses arising from their position as Trustees. li Indemnity Insurance Charitable Trustee tndemnity Insurance for £5 n)illion cover was in¢oryorated in the overall pubiir liability and buildings insuTantt atTangernent5 made for the charity. 12 Tangible Fixed Assets Freehold Land Leasehold L4nd nd Buildings Flitures, Fittlngs, and Equlpment Motor Vehlcles Buildings Total CosUFair value at acqulsltlon As at I st January 2023 Additions 40,421.977 563,405 1,089,033 2,132,566 5,520 33,985 43,677,561 568,925 As at 3 1st December 2023 40,985,382 1,089,033 2,138,086 33,985 44,246,486 D¢pr¢¢Aation As at 1st Janu8ry 2023 Charge for the Year 20,827,816 739,393 654,374 8,443 1,466,538 59,259 27,188 22.975,916 6,797 813,892 As at 3 1st December 2023 21.567209 662,817 1,525,797 33,985 23,789,808 Net Book Vftlu¢ A8 at 31st December 2023 19,418,173 426,216 612,289 20.456,678 As at 318t December 2022 19.594,161 434,659 666,028 6,797 20,701.645 Net Book Value as at 318t December 2023 repTese]its fixed assets used for.- Parish pu￿>s¢S £16,410,646 (2022 . £16,810,232) Curial pwposes £4,046,032 (2022 .' £ 3,891,413) Land and buildings occupied by the dio¢ese's two Multi Academy T￿Sts, Catholic Voluntary Academies and Voluntary Aided Schools are nol capitslised because they are considered to be of nil value (see accounting policy note 2.3a for fijrther d¢tail$). Page 26 DIOCESE OF HALLAM (Roman Catholit Diocese of HallAm Trust) NOTES TO THE FINANCIAL STATEMENTS Year Ended 31st December 2023 13 Ffixed A$$et Inv¢stments 2023 2022 (a) Llsted InveslD)ents Market Value 1st January 2023 Acquisitions Disposals at Opening Value (Note Net unTealised inveslrnent gains/(losses) 3,510,124 1,572,855 (1,493,091) 139.826 4.165,137 231.178 (424.192) (461,999) Market Value at 3 1st December 2023 3.729,714 3,510,124 Ib) Un]isted Investments The Catholic National Mutual Limited Inter-Diocesan Fuel Management Limited 4,000 4,000 4,000 4.000 8.000 8,000 (c) Natlona] Savlngs Deposlts & Bonds Market Value at 1st January 2023 99.000 99,000 Market Value at 3 1st December 2023 99.000 99,000 (d) Cash depo$lts- pendlng relnvestmtttt Stockbroker's deposit accounts 51,645 E67,026 2023 2022 (e) Investmenl PToperties Market Value at 1st January 2023 Transfer from Functional Fixed Assets Disposals at Opening Value (Note ID Net gain/(loss} on revaluation 4,424,763 3,230,450 33.809 (72.813) 1,160,504 Market v￿lle at 3 1st December 2023 4,351,950 4,424,763 TOTAL FIXED ASSET INVESTMENrs 8240J09 8,208.913 Continued on Page 27 Page 27 DIOCESE OF HALLAM (Roman CAtholic Dfioc￿e of Hallam Trust) NOTES TO THE FINANCIAL STATEMENTS Year Ended 31st December 2023 13 Fixed Asset Investments (Continued) 2023 2022 Note (I) Proceeds Realised {Gain)ILo$s 1,479,256 13,835 372,528 51.664 1.493,091 424,192 2023 2022 Note OD Proceed8 Realise41 (Gain)/Los8 72213 600 72,813 Market Value at 31st December 2023 Tepresented investments held for:. PaTtsh pu￿Ose8 £4,396,232 (2022: £4,460,412) Curial pu￿oSe$ £3,844.077 (2022: £3,748,501) The historical cost of listed investments is £3,195,713 (2022: £2,925,420). The unlisted investnL¢nt iti The Catholi¢ National Mutual Limited can only be disp)sed of alpar. and the historical cost of that investment is £4,000. The unlisted investment in Inter-Fuel Managerncnt Ltd was acquired on 31" March 2022 at a value of £4,000 and can only be disposed of atpur. Investment Properties are based at the Trnstee'$ best estimate of fairvalue at the Balance SILeet date. The Investment Properties were acquired at nil cost on forn)ation of the Diocese in 1980 and on the subsequent transfer of one parish from a separate trnstee. The majority of the inveslment properties were revalued Professionally as at 31 D¢cembeT 2022 at open mark¢t value by Comm¢rcial Propety Rothcrham Ltd. The remainder of the investment properties w¢r¢ revalued as at 31 D¢c¢mb¢r 2022 by other valuers, local to their location. All investtnent properties are situated in the U Page 28 DIOCESE OF HALLAM (RomYdD Catholic Diocese of Hallam Trust) NOTES TO THE FINANCIAL STATEMENTS Year Ended 31st Detember 2023 14 Debtors 2023 2022 Amounts falling due Mdthln one year Accru￿ InteTest receivable Gift Aid Tax recoverable Other Debtors Prepayments Pastoral LoaDS 3,192 35.519 869,197 117,645 13,306 1.425 20,136 1.232,406 108,421 17,514 1.03S,859 1,379,902 The Pastoral Loans made are to priests, interest free and repayable on demand. Other Debtors includ¢s £489.815 {2022: £843,968) set-up costs met on ￿half ofthe two diocesan Multi Academy Trnsts estsblished during 2022. Ivhilst still repayablc on dcmand, this will bc rcimbursed over the coming years, as the Tn￿t5 All debtors are repayable within onc year. 15 LIAblllde$: Amounts falllng due within one ye8dr 2023 2022 Sundry Creditors DJE LCVAP funding held for Diocesan Volw)tary Aided Schools PAYE Creditor Third Party Collections A¢cruals 152,869 762,310 5,257 41,357 83,793 155,885 881,715 83 29,287 84,781 1,045,586 1,151,751 Page 29 DIOCESE OF HALLAM Oioman Calhollc Dlocese of Hallam Trust) NOTES TO THE FINANCIAL STATEMENTS Ye*r Ended 31st December 2023 16 Restricted Funds Investment Gain81 (Lo$$es) Balance 1.1.23 Balance 31.12.23 Incom¢ penditure Transfers Parish Funds Parish Re8trÈcted Property J.J. Eyre Fund (St Vincent's) J.J. Eyre Fund {st Marie's) Other Reslricted Parish Funds 5.451,171 30,510 48,242 520,607 (129,397) (1,120) 5,321,774 33,816 55,387 477.298 1,092 1.846 3,334 5,299 (30,137) (13,172) Curial Funds Sick & Retired Clergy Fund Priests, Training Fund Foundation Masses Fund Diocesan Schools, Building Fund National Singing Programrne Fund Lourdes PIlgr]n￿ge . Restricted Fund St. Wilfrid's Cenlre Restricted Funds St. Wilfrid's Place R¢stri¢t¢d Fund 151,355 24,816 14.893 272 (170,947) (55,358) (272) (7,062) (17,107) 5,507 42,882 (2,904) (2.417) 7,827 22,518 58,834 24,882 1.500 11,060 1,402.719 22.518 51,772 12,775 1,500 3,763 1,370,839 13,852 (21,149) {31,880) 7,723,398 61,771 (464,429) 35,217 3,312 7,359,269 (a) Parish Restricted Property Fund - This Fund represents th¢ Parish property that is subject to a Special Trus( at its net book value at the Balance Sheet date. (b) OtheT Restricted Parish Funds- This Fund predominantly represents funds arising from the disposal of Solly Street by St Vincent's Parish. which are to be used only for the benefit of that parish. (c) St Wilfrid's Pla¢e Restricted Fund - This Fund represents the amounts received in respect of a project in Sheffield to provide 8UPPOrted housing, for adults, whi¢h had not been expended at the Balance Sheet date. (d) Sick & Retired Clergy Fund - This Fund repr￿ents the amounts received to meet the costs involved in the assistance of sick and r¢tir¢d Clergy of the Dio¢ese, which had not been expended at the Balance Sheet date. (e) Diocesan Schoo15' Building FuDd' Training Fund - This Fund represents the amount8 received by tI)is Fund io enable grants to be n￿de to diocesan Voluntsry Aided Schools to assist them in f￿ancing the Governors, IO•/tr liability for building improvements and repairs of school buildings. 17 Unrestrleted Funds Investment Galns (IA)sses) Balance 1.123 BalAn¢e 31.12.23 Income Expendltsre Transfers Parish Fmn General Fund Designated Funds Parishes Fund for Fixed Assets 7,729.761 3.9EI.929 (2.752.205) (866,188) (600) 8,022,697 12.839.061 (553,917) 283,728 12,568,872 20,568,822 3.911.929 (3,306,122) (582,460) {600) 20591,569 Page 30 DIOCESE OF IL4LLAM (Roman Catholic Diocese of HallArn Trust) NOTES TO THE FINANCIAL STATEMENTS YeAr Ended 31st December 2023 17 Unr¢strf¢ted Funds (Continued) Investment GAln (Losses) Balanc¢ 1.1.23 Balance 31.12.23 In¢om¢ EIp¢ndlture Transfers CHrialFundy Gener81 Funds 3,199,358 652,986 {1,279,397) 268,046 111,003 2,951,996 Designated Fund$ Curial Fund for Fixed Assets Needy Parishes Fund Caritas Hallam Fund St. Wilfrid's Centre Funds St. Wilfrid's Place Fund Lourdes Pilgrimage Fund Walsingham Pilgritnage Fund 1,697,071 27.085 259,257 391,374 560,975 52,431 3,679 11,250 2,682 306551 355,988 83,796 142.046 625 (55,104) 285,197 (6,000} 1.938.414 23,767 263,606 360,583 576.540 22,320 3,183 (313,878) (426,779) 40,000 (28,231) (40.000) {172,157) (1,121) 11,676 6,191,230 1,555,924 (2276,667) 547,243 122.679 6,140,409 (a) Parish Fund for Fixed A8$ets - This Fund Comprises the amount of the net book value of fixed assets for Parish use at the balance shecl date. Ib) Curial Fund for Fixed Assets - This Fund comprises the amount of the net book value of fixed &8sets for general Diocesan use at the balance sheet date. (c) Caritss Hallam Fund- This Fund T￿resentS the amount designated for the activities of Caritas Hallam. (d) St Wilfrid's Cenlre Funds- This represents funds designated for the operation of St Wilfrid's Centre. (e) St Wilfrid's Place Fund - This Fund represents tFAe amount designated in respect of a project in Sheffield woviding supported housing, for adults, which had not been expettded at the Balance Sheet date. 18 An*tysi8 of Net Assets Between Funds Unrestricted Funds 21123 Restricted Funds 2023 Total Fllnds 2023 Fvnd Bal4n¢e$ at 31st December 2023 26,731,978 7,359,269 34,091,247 Represented by:_ Tangible Fixed Assets Inveslments Current Assets Inter-fund offset Liabilities .' Amounts falling due within one year 15,179,164 6,707,027 6,357,792 (467,926) {1,044,079) 5,277,514 1,533,282 82,054 467,926 (1,507) 20.456,678 8,240,309 6.439,846 (1,045,586) Totsl N¢t Assets 26,731,978 7,359,269 34.091,247 Page 31 DIOCESE OF HALLAM (Roman Catholic Diocese of Hallam Trust) NOTES TO THE FINANCIAL STATEMENTS Ye*r Ended 315t December 2023 19 Detailed Allatysis of Net Assets Between Funds Tanv￿le Ffxed Assets Investhients Net Assets Inter-Fund Lo*n$ TOTAL PARISHES Restricted Funds Parish Restricted Propety Fund J.J. Eyre Fund (St Vin¢¢nt's) J.J. Eyre Fund (St. Marie's) Other Restricted Parish Funds 3,841,774 1,480,000 16,761 27,521 5,321.774 33.816 55,387 477298 18,055 27,866 8.372 (1.000) 468,926 Unrestricted Funds DeNT ated PaTishes Fund for Fixed Assets Oiher UnrestrictedFun 12,568.872 12.568.872 Gen¢ral R¢s¢rv¢s 2.871,950 4,396,232 1,638.657 1,692,950 3,512,090 3.980.016 8,022,697 26,479,844 16,410,646 T#ngible Flxed Assets Net Assets Inter-Fund Loans Investments TOTAL CUIUA Re$trfi¢ted Fund$ Sick & Retl￿d Clergy Fund iests, Training Fund Foundation Masses Fund Diocesan Schools, Building Fund National Singing Programme Fund SL Wilfrid's Centre". R¢stricted GraDts St. Wilfrid's Place Restricted IJ)urdes PI1￿lMage.' Sick Child Fund 63,401 (55,574) 7,827 9,000 13,518 51,772 12,775 2,263 22,518 51.772 12,775 3,763 1,370,839 1,500 1,470,994 1,500 1.370.839 1,500 26.254 1.435.740 9,000 Unrestricted Funds Desi maied Curial Fund for Fixed Assets Needy Parishes Fund Caritss Hallam Fund St. Wilfrid's Centre Funds St. Wilfrid's Place Fund Lourdes Pilgrtmage Fund Walsingham Pilgtimage Fulld Other UnrestricÉÉdFundY 1.977,180 (38,766) 1.938.414 23,767 263.606 360.583 576,540 22.320 3,183 23,767 33.042 171.196 132,815 25,051 3,183 230,564 239,784 393,328 (50.397) 50,397 (2,731) General Res¢Thes 3,604.513 3,844,077 3,286,002 (3,938,519) 3,701.310 (3,980,016) 2.951.996 7,611,403 4,046.032 Pag¢ 32 DIOCESE OF HALLAM (Roman Catholi¢ Diocese of Hallam Trust) NOTES TO THE FINANCIAL STATEMENTS Year Ended 31st December 2023 20 Thlrd P*rty Collections Third Paty collections are tsken in Churches with the pemiission of the Charity but the are not under the control of the Charity and are excluded from the Statement of Financial Activities. 21 Entidement to Future Legaejes Legacies are recognised when there is entitlement, certainty of receipL and the legacy can be measured. The charity considers that entitlement is when estate a¢¢ounts are settledlthere is notification of a disttibution. 22 Connected Charltles and Related Party Transactions The Bishop of Hallam appoints Foundation Directors of Catholic Voluntary Academies and tb¢ two diocesan Multi Academy Trusts and Foundation Governors to thc Governing Bodies of Diocesan Schools. Foundation Directt)rs/GovernoTS forn] a majority in each Trusvschool. The addresses of Diocesan Schools are detailed on the Dio¢¢san websifr. Grants n]ade by the charity to Voluntary Aided s¢hools for building and repair costs, through Ihe Diocesan Schools Building Ful￿ amounted to £6,940 (2022.. £12,717}. One grant was made to a School by a parishes thiring the year of £Nil (2022.. £2.000). At 31" December 2023 the clwity held ￿ndS amounting to £762,310 (2022..£881,715) representing DtE grant money held for Dio¢esaD VA Schools. The corresponding creditor is shown in Note 15. Diocese of Hallam Thstee is also Trustee of St. Michael's Roman Catholic Church and Presbytery, Hathersage, a separate charity. There are no disclosable related paty transa¢tions. 23 FlnandAI Instrum¢nt$ The charity had the followryng fJn8n¢ial instruments.. 2023 2022 Financial assets at fair V￿lle through Ststement of Financial Activities.. Fixed asset investments- Equity investh)ents and deposits 3,888,359 3,784,150 Finatt¢ial assets that are debt insttill)]ents measured al amortised wst". Debtors 921,214 1,271.481 Financial liabilities measured at amortised Cost: Credito 1,045,586 1,151,751 1,045,586 1,151.751 24 Commltments 2023 2022 Auihorifed:_ PaTish Expenditur¢ Curial Expendithre Grants to Schools 33,971 296,645 431 Included in amounts authorised are net amounts contrac￿1 for .' 33.971 278,645