Charity registration number NIC105256
DERRY DIOCESAN TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

DERRY DIOCESAN TRUST
CONTENTS
Page
Charity Information
Corporate Trustee's report
2-10
Independent auditorfs report
Statement of financial 8Ctivities
14-15
Bslance sheet
16
Statement of cash flows
17
Notes to the financial statements
18-34

DERRY DIOCESAN TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Corporate Trustog
St. Columb's Di0￿$8n Trust
N1012385
Directors of the Corporate Trustee
Most Reverend Donal McKeown
Reverend Michael Canny
Reverend Paul Mccafferty
Mr Shaun McElhinney
Mr Sean O'Kane
Reverend Michael Mccaughey
Ms Aine Gallagher
Mr Ciaran Hampson
Ms Fiona Schlindwein
Ms Brenda Morris
Charity number
NIC105256
Registered office
Bishop's House
St. Eugene's Cathedral
Francis Street
Derry
Auditor
Moore (Nl) LLP
21123 Clarendon Street
DerrylLondondery
BT48 7EP
Bankers
Bank of Ireland
27 Culmore Road
Derry
BT48 8JB
Sollcltors
Napier & Sons
1-9 Castle Arcade
High Street
Belf8St
BT15DF
Hasson & Company Solicitors
39-41 Clarendon Street
Derry
BT48 7ER
Clarendon Legal Solicitors
48 Clarendon Street
Derry
BT48 7ET

DERRY DIOCESAN TRUST
CORPORATE TRUSTEE'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The Directors of the Corporate Trustee present their report and financial statem8nts for the year ended 31
December 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the
financial statements and comply with the charity's constitution, the Charities Act {Northern Ireland) 2008 and
"Accounting and Reporting by Charities= Ststement of Recommended Practice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
102) (effective 1 January 2019)"
Objectives and activities
The principal objects ofthe charity are:
the advancement of the Roman Catholic religion in the Roman Catholic Diocese of Derry subject to any
future curtailment or addition of area made in accordance with the laws and regulations of Ihe Roman
Catholic Church- and
the advancement of any charitable purpose supported by the Roman Catholic Church throughout the world
or in any part of the world.
The territory covered by the Diocese of Dery is made up of 51 Parlshes across parts of Counties D8rry, Tyrone and
Donegal and a very small part of CountyAntrim.
The Church in Derry, in union with the Catholic Church worfdwide, seeks to achieve its objectives through activities
including the following..
Proclamation of the Gospel
Worship of God
Provision of Clergy and pastoral personnel
Formation and development of parish communities
Support for families
Provision of educational, pastoral and youth ministries
Provision and maintenance of places of worship
Aid for impoverished and n88dy communities worldwide.
The means used to fulfil the purpos&s of the Diocesan Trust are constantly monltored and reviewed in order to
ensure that the principal aims and objectives of the charity are adhered to.
Statement that the Corporate Trustee has had regard to the Charlty Commisslon for Northem Ireland public
beneflt requlrement statutory guidance
The Corporate Trustee confirms that is has paid due regard to the public benefit guidance issued by th8 Charity
Commission for Northern Ireland in determining the activities undertaken by the charity.
Proclamation of the Gospel and Worship of God
Within the Dioc@so religion is normally advanGed through the provision of places of worship, the facilitation of
religiou5 practice and through community celebration of Mass. There is a public ￿lebratIon of Mass every day in
the majority of Parishes and on every weekend several communily Masses are celebrated in public in every Parish.
All such celebrations are open to the public without any restrictions.
Other activities of the charity include conducting religious ceremonies (such as baptisms, weddings and funerals),
running programmes pertaining to spiritual formation and development, encouraging and supporting inter-church
relalionships and maintaining places of worship, many of which are listed and contain religious works of art and
other artefacts all of which form part of our national heritage. As these places of worship are open to the general
public. people of all faiths or none, they provide a public benefit for the whole community and for many people they
are spaces which offer the opportunity for quiet reflection and for spiritual contemplation.

DERRY DIOCESAN TRUST
CORPORATE TRUSTEE'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
It is within Parishes that people expertence what it is to be a member of the Catholic Church and where faith is
nurtured and given expression. Parishes, through various means. provide for the moral and spiritual wellbeing of
parishioners. Practical expressions of faith are manrfested through the means of Parish organised pastoral. social
and educational activities. many of which rely on the voluntary involvement of parishioners.
As well as pastoral care and the provision of the Sacraments to the members of parish communities. the Diocese
offers chaplaincy services to those who cannot be part of a regular parish community. Hospital Chaplains are
avai18ble at all the major hospitals within the Diocese of Dery. The Chaplains are regularly available to patients,
patients, relatives and staff and are on call to attend in emergencies. The Diocese also provides chaplaincy services
in penal institutions.
The important role played by volunteers who participate in the various activities of the Parish cannot be overstated
and their contribution is vital in enabling the Diocese to continue to fulfil and develop its slated objectives.
Volunteers generously give of their time serving in various ministries, caring for and visiting the sick, the
housebound and those on the margins of society. They play a significant role in helping to maintain Parish property
and assisting in financial and other administrative duties, such as through membership of Parish Pastoral, Finance
and Safeguarding Committees. Such parishioners are the lifeblood of their communities and their contribution is
significant. The Diocese has around 1,100 volunteers who provide a voluntary contribution to the Diocese within
their respective Parishes on a regular basis.
Although the charity relies principally on donations from parishioners for its funding, acc8SS to religious services is
never restricted on the grounds of financial contributions. In addition, members of the Catholic community are
encouraged, as a consequence of their faith commitment, to contribute towards creating a better society by
becoming active volunteers withln their local area through membership of charities, local socielies and community
groups.
Alongside the work aGcomplished in the Parishes. the Curla, the central administrativa office of the Diocese,
coordinates and carries out a number of essential functions necessary for the advancement of Catholic religion at
local, national and intemational level. In order to do this, the Curia operates through Diocesan Committees and
through various personnel charged with specific responsibilities.
Provision of Clergy
Central to Parish life is the relationship between the Parish Prlest, Curates and parishioners. Clergy are not
employees of the Diocese, however, in Canon Law the care and welfare of inGardinated Priests of the Diocese is
mandatory and is, therefore, part of the charity's ongoing commitments.
Support for Families
Family Ministry within the Diocese is dedicated to strengthening marriage and families by coordinating pastoral
programs and ministries that have faith as their foundation and Christ as their goal. By responding to the needs of
today's families, as they strive to live in a very challenging culture and a rapidly changing wortd, 'Family Ministry,
serves as a resource for families, clergy and parish communities.
Education
The Diocese of Derry continues to dedicate personnel who support the work of the 139 schools which are in
Catholic Trusteeship within Ihe Diocese of Derry. This programme not only engages with classroom teachers,
schools leadership and Governors but also promotes strong links with the local parish communities in the interest of
a rounded education.
Criteria for measurlng progress against aims and objectives
The nature of the objectives and activities of the Diocesan Trust are such that it is difficult to measure and assess
success using quantitstive or other similar measurement methodologies. However the Diocesan Trust is satisfied
that it has continued to engage in levels of activity that safeguard the achievement of its core objectives which in
turn conlinue to sustain the promotion and practice of Catholic faith within and beyond the Diocese. The Diocese
has succeeded in providing clergy, pastoral personnel and resources to sustain the structure and activities of
parishes. It has succeeded in maintaining programmes of activity in supporting faith-based educ8tion. providing
pastoral support lo communities. families. young people and people who have become marginalised in society. It
has succeeded in maintaining in good condition the buildings and properties that il holds to resource its key
objectives in current times and into the long-term future.

DERRY DIOCESAN TRUST
CORPORATE TRUSTEE'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Achievements and performance
Pastoral Development after Covid
Covid restrictions continued through the early part of 2022. By May 2022, most restrictions had been lifted, enabling
the Diocese, supported by the Derry Diocesan Trust. to continue more fully its work in providing pastoral support to
the communities and families in the 51 parishes of the Diocese. responding to the needs of local people. The
Diocese has sought to continue to use some of the new methods of engaging with its congregations which were
brought into use during Covid. for example webcams and other on-line platforms.
Continuing Synod Preparation 2021-2023
In late 2021, Pope Francis had called the entire People of God to journey together and answer the call to participate
in preparation for the 2023 Synod of Bishops, through a fwo-year process of Gonsultation with parishioners,- this is
process ofjourneying together, listening to each other, dialoguing and discerning, so as to arrive at decisions which
will render the church's mission of service more effective in recognising and responding to the needs of people, both
locally and universally.
Guided by a Diocesan Synod Working Group, a listening process was established for parishioners of this Diocese,
@nabling their voices, concerns, needs and challenges to be heard. The Diocese's Youth Ministry team engaged
with youth across thè Diocese, and th8 Diocesan CatechetiGal Centre reach8d out to all Catholic primary and post-
primary students and teachers.
Information and facilitation training was managed by professional facilitators with expertise in restorative justice
in the community and church, and in the theology of Synodality. Parishes held 'list8ning gatherings, in an
atmosphere of prayer, welcom8 and hospitality, aiming to reach out to all young and old, small groups,
organisations schools and those on the margins or alienated. Through this process, there has been a recognition of
change in local communities and of the need for a new model within Church; there is a clear realisatlon of the need
to empower people to engage in Ihe church community, with increasing co-responsibility of lay people and local
clergy for parish development and in the Diocese as a whole. Formation and training needs have been identified to
build the necessary confidence which will encourage everyone in parishes to use the full range of gifts that they
have within and for the local parish community. The development of a programme of adult faith fomiation is already
well underway in the Diocese. To this end, clergy, staff and volunteers have already been able to deliver in-person
pastoral programmes and lead8rship training in a number of parishes, to empower members of the local parish
communities to engage in greater co-responsibilily. Bishop McKeown has appointed a person to the new diocesan
role of 'Training in Evangelisation and Adult Faith Formator,, in support of thi8 process. to work alongside the
existing Diocesan Pastoral Coordinator.
On-going engagement with Youth and Schools in the Diocese
The Diocese. supported by the Derry Diocesan Trust, continues to assist the work of the primary and post-primary
schools which are in Catholic Trusteeship. In May 2022 the Derry Diocesan Catechetical Centre organised the firsl
post-covid in-person 'Fan the Flame. gathering in Celtic Park. Over 3.500 pupils from throughout the Diocese of
Derry attended. This was the largest such evenl ever held by the Diocese.
structural Change for more effective Outreach
Having reviewed alongside the clergy of the Diocese, who are most directly affected, Bishop McKeown has
proposed creating missionary pastoral communities with the current aim of at least two priests in each pastoral
community. The purpose is to carry out more effectively the outreach mission of the Diocese. The first three of
these areas have been established. This model will giv& parishes more of an opportunity of working cooperatively
with their neighbours, sharing their gifts, talents and resources. Parishes, while retaining their individual parish
identity, will share clergy. There will be a gradual introduction of these areas over a period of years.

DERRY DIOCESAN TRUST
CORPORATE TRUSTEE'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Maintenance of buildings and proporty
The Diocesan Trusl has actively continued to manage and safeguard the condition of the buildings and properti8S
that it holds in trust to meet its charitable objectives including churches, parish halls and parochial houses. The
Trust aims to maintain all properties in a good state of repair and has completed a number of substantial repair and
refurbishment projects during the year. Projects of this nature are financed through a mix of parish financial
reserves, project fundraising programmes and collections and special-purpose donations. The maintenance and
refurbishment of property and buildings assists in safeguarding the ongoing activities of the Diocese and also
benefits the broader communily through the protection and safeguarding of the built environment and heritage
buildings.
Funding of parishes
The Diocesan Trust relies largely on donations from parishioners to fund its pastoral programmes, to maintain its
buildings and properties 8nd to meel its running costs. Covid impacted adversely on the level of income received by
Parishes and the Diocese and presented significant financial challenges. Although the financial pressures arising
directly from Covid have now ended, income gener8ted remains below pre-covid levels. The Diocesan Trust has
provided advice and support to Parishes where financial difficulties have been most acute. Going forward, the
Diocesan Trust is now starting to explore new methods of receiving donations which would involve the use of
modern technology and reflect the way in which. for many people, the use of cash is becoming close lo redundant.
Laudato Si and Environmental Strategy
In his 2015 encyclical Laudato Si. Pope Francis made a great call for the practical care of our planet, our common
home, especially in this time of climate change. He challenged both the church and the entire world to engage with
the environmental challenges presented by climate change. Over the past few years since the presentation of
Laudato Sl, the Diocese of Derry has been engaging with the issues raised, moving towards both a diocesan
strategy and, crucially, its implementation. Thus, the Trust is involved actively in education and practical
engagement with the environmental challenges facing the planet.
Investment policy and perfomian¢e
The Diocesan Trust has an Investment Policy which sets out assessment criteria for investments including levels of
rlsk and performance. The primary financial objective of the Diocesan Trust is to ensur8 that the current and future
financial and pastoral obligations of the Diocese of Derry can be met. The Trust seeks to produce the best financial
return within an acceptable lavel of risk, maintaining a balance between long term capital growth and income
growth. The investment objective is to generate a ￿tUrn as specified in the Trust's Investm@nt Policy ov@r a rolling
three-year period. A moderate arnount of risk can be taken in order to achieve this objective. The Diocesan Trust's
investments satisfied risk criteria in 2022. Investment perfomiance in 2022 fell below specified target returns but the
Trustee Board are satisfied that this reflected general market conditions in 2022 and did not illustrate unsatisfactory
performance in the Diocesan investment portfolios compared to market trends and suitable comparators.
Flnanelal revlew
Details of the income and expenditu￿ for the current and previous financial years are shown in the Statement of
Financial Activities on pages 14 - 15. Although total income in 2022 has fallen below 2021 total income, donations
from parishioners (being the primary source of funding for the Diocese) have increased from £7,526,294 in 2021 to
£7,987,032 in 2022 as the Diocese emerged from Covid. However parishioner donations r8main below Pfe-covid
levels.
Total income for the year was £11,931.514 of which £9,563.760 was generated by Parishes and £2,368,754 was
generated by central Curia funds. The principal funding source of the Diocesan Trust in 2022 has conlinued to be
donations from parishioners which have been used primarily to fund the costs of pastoral activity, maintenance of
buildings and administration in the particular parishes in which the donations were received.
Modest residual amounts of Covid-related funding totalling £5,928 (2021.. £578.175) were received.
Total expenditure for the year was £12.053.977 of which £9,450.355 was expended by Parishes and £2,603,622
was expended from ￿ntral Curia funds.
Therefore expenditure exceeded income for the year by £122,463. There were net losses on revaluation of
investments to market value of £1,997,844 (2021.. net gains of £1,897,045) which combined with sterling-euro
exchange adjustments resulted in nel outgoing resources for the DI0￿Se of £2,128,240.

DERRY DIOCESAN TRUST
CORPORATE TRUSTEE'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
The Diocesan Trust holds reserves of £76,163,970 at 31st December 2022 (2021: £78,292,210) comprising
r8Stricted reserves of £71,014,644 (2021= £72,839.8311 and unrestricted reserves, which exclude parish reserves,
of £5,149,326 (2021: £5.452,379). Details of the amounts and purposes of restricted reserve funds are included in
note 20 in the accounts.
Reserves policy
The Diocesan Trust recognises that its income arises primarily from voluntary donations and that accordingly it is
important lo seek to carry adequate levels of resetves to ensure its ability to meet future expenditure commitments
as they arise. Parishes are encouraged to maintain adequate short-temi reserves to ensure that they can meet
operating costs in the short-term and to build longer-term reserves that will be available if substantial commilments,
such as buildings refurbishmenl projects, arise in the future. The Diocese centrally aims to maintain adequate levels
of reserves to meet Diocesan operating costs in the short- to medium-term and to provide for any significant
expenditures and contingencies that may arise at future dates. The policy of maintaining significant long-term
reserves is considered consistent with the expectation that the Diocese of Derry will continue to exist in perpetulty.
The Diocesan Trust aims to hold reserves equating to at least the average amount of operating expenditure for
three months as Free Reserves. Free Reserves are defined as Unrestricted Funds less Tangible Fixed Assets.
Funds invested in Tangible Fixed Assets are excluded from Free Reserves as these funds cannot be released
without undermining the Diocese's ability to fulfil ils principal charitable objectives. At 31 December 2022, Free
ReseNes were £4,493,478 (2021.. £4,782,305) and represented 5.71 months 12021: 5.99 months) of Total
Operating Expenditure. Total Operating Expenditure takes into account Parish expenditure and is measured against
central Curia free reserves. The Trustee Considers that this level of Free Reserves is reasonable, especially at the
present time, to enable the Diocese to fulfil its immediate financial obligations and commitments and to plan for
future investment requirements,
Prlnclpal rlsks and uncertalntles
The Corporate Trustee engages in a continuous process of monitoring and identifying risk and seeks to implement
me8sures to address the risk and mitig8te the impact of any negative outcomes. The Corporate Trustee is satisfied
with the Gharity's ability to continue as a going conGern.
Risk Management
The Trust Council actlvely revlews 811 malor strateglc and operatlonal rlsks to whlch the charlty Is exposed and
confirms these have been reviewed and that strategies and systems are established to manage exposure to Ihese
risks. The main areas of risk identified and monitored by the Trust Council include:
Safeguarding
Compliance with Health & Safety and listed buildings legislation
Reduction in active clergy members
Reduction in voluntary income
Increasing costs for the care of sick and retired clergy
Reduction in c8nlral reserves due to Gapital projects and long term commitments
Compliance with data protection regulations
Risks in relation to fraud
Diminishing numbers in weekly worshipping Gongregations

DERRY DIOCESAN TRUST
CORPORATE TRUSTEE'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Plans for future periods
The Diocese of Derry recognises that its core objectives of advancement of the Catholic faith and proclamation of
the Gospel remain constsnt over time and accordingly it aims to maintain its existing activities into the future. At the
same time the Diocese recognises the changing environment in which it exists and accordingly reviews its pastoral
and operational programmes and plans on an ongoing basis in an effort to ensure that it continues to meet its
primary objectives in the conlext of a changing environment. The Diocese is carrying out a process of review
involving broad consultstion to plan how it will succeed in delivering its pastoral work in the future given the
challenges that exist in terms of numbers of clergy, participation of lay people in church life and finan￿. The
Diocese is actively responding io initiatives put in place by Pope Francis including work to incorporate the principles
of Laudato Si into the life and work of the Diocese and its parishes and Synodality programmes.
In 2018 the Diocese published a Diocesan Pastoral Plan for 2018-2021 entitled "God is Love" The Pastoral Plan
set out the path that the Diocese hoped to take in every parish community over the course of the three-y&ar period
2018-2021. The Plan was framed by three pastoral themes: Building Welcoming and Inclusive Communitles,. Being
Disciples of Jesus Christ, Growing in Faith Together., Working to Make Jesus Known and Loved. The Diocese
continues to strongly promote and support the work of Parish Pastoral CoLJncils. The Diocese has continued to
develop the themes of the Diocesan Pastoral Plan in 2022 and continues to do so in 2023 and beyond.
On-going engagement with Youth and Schools In the Diocese
In 2023, the Diocese plans to host its second Religious Education Conference for primary and post-primary school
teachers in the Diocese. Organised by the Catechetical Centr8, it is planned to be held in Saint Columb's College,
Derry with, as main topics, 'Building Communities of Dialogue,. 'Forgiveness and Catholic Schools as Essential
Places of Evangelisation,. Part of the conferenGe will indude an evening gathering of parishes in the Diocese,
focussed on 'Building Parish Life,. Reaching out to young people and a commitment to youth ministry remains a top
prlority of the Diocese and a significant financial investment by the Derry Dlocesan Trust.
Laudato Si and Environmental Strategy
A Diocesan group developed a draft Environmental Strategy which was put out for consultation. The Trust's Board
of Directors has reviewed the draft Environmental Strategy and plans to adopt this as a Diocesan Environmental
Strategy. The document is available at:
https'.Ilwww.derrydiocese.orgl
index.php. preview=1 &option-com dropfiles&fonTJat-&task-fronffile.download&catid-75&id-188&1temid=10000000
00000 .
This strategy provides concrete objectives, as well as practical proposals, in temis of land usage, food, energy
usage, design and managemenl of diocesan and parish properties, water and waste management, and transport.
as well as the crucial matters of implementation and moniloring. The areas are focussed on actions by the Diocese
and parishes. and by groups or individuals. Four parishes or clusters of parishes have begun pilot projects. It is
considered that implement81ion is more important than launch of Ihe strategy. Therefore, successful pilots will be
roSled out across other parishes.
Education and awareness of environmental issues are essential. A month-long 'Season of Creation. will continue to
be promoted in every parish be￿een September and October annually.
Structure, govemance and management
The Roman Catholic Diocese of Derry exists in civil law as the registered charity Derry Diocesan Trust, a charitable
trust established by a Trust Deed dated 20th July 2009. On 7th July 2016, Derry Diocesan Trust became registered
as a charity with the Charity Commission for Northern Ireland under charity registration number NIC 105256. For tsx
purposes, Derry Diocesan Trust is also registered with HM Revenue and Customs as holding charilable lax status.
The sole Corporate Trustee of the charity is St Columb's Diocesan Trust. a company limited by guarantee. The
Corporale Trustee is authorised by the Lord Chief Justice of Northern Ireland to act in any charitable or
ecciesiastical trust as a trust corporation. The Diocesan Trust is currently carrying out a review of its governance
structures and arrangements wilh the support of an independent professional firm.

DERRY DIOCESAN TRUST
CORPORATE TRUSTEE'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
The operation of the charity is overseen by the Corporate Trustee. The Directors of the Corporate Trustee are
appointed by the Bishop of Derry who is Chair of the Board (Trust Council). The Corporate Trustee which served
during the year and up to the date of signature of the financial statements was:
St. Columb's Diocesan Trust
The directors which served on the Board of the Corporate Trustee during the year and up to the date of signature of
the financial stalements were..
Most Reverend Donal McKeown
Reverend Michael Canny
Reverend Paul Mccafferty
Mr Shaun McElhinney
Mr Sean O'Kane
Reverend Michael MGCaughey
Ms Aine Gallagher
Mr Ciaran Hampson
Ms Fiona Schlindwein
Ms Brenda Morris
Recruitment and appointment of Trustees
Recruitment of Directors is based upon their knowledge of the local Church and their having the professional skills
and experience necessary for overseeing the affairs of thè charity by ensuring it is solvent. well run, and that it
d8livers the outcomes for which it is established.
Induction and training of Trustees
New members of the Trustee Board are glven an introduction to the structure and governance arrangements of the
Diocesan Trust and to the roles and responsibilities of the Trustee Board and its Committees upon appointment. In
addition the Diocesan Trust has provided a number of training days for Trustee Board members and will continue to
do this. Training days are delivered by external professional firms with relevant expertise and focus on
developments in charity law and practice and on charity govemance and management.
Organisational structure
Reflecting Canon Law, the activities of the charity are separated In thls report Into Parish and Curia functions.
Parishes
The Diocese is divided into Parish communities. Parish PriestslAdministrators and Curates are appointed by the
Bishop to provide pastoral care for Parish communities and to manage Parishes in all juridical affairs thus ensuring
Parishes are administered in accordance with the norms of Canon and Civil Law while fulfilling the aims of the
charity.
Each Parish is required by Canon Law to have a Finance Committee to assist the Parish PriesUAdministrator in the
administration of the Parish. Parish Finance Committees include parishioners with knowledge and experience in
finance, property management and administralion. The Diocesan Trust is currently reviewing and updating its
publication Financial and Administrative Guidelines for Parishes in order to ensure that there is clear and meaningful
guidance in place for Parish Priests, Administrators and Parish Finance Committees.
Curia
The Diocesan Curia consists of those institutions and persons which furnish assistance to the Bishop and Trust
Council in the govemance of the entire Diocese, especially in directing pastoral activity, in providing for the
administration of the Diocese and in exercising judicial power. It also includes all who participate in the overall
administration of the Diocese, especially those who direct Diocesan activities such as pastoral support, youth work.
educations, family life, liturgy, laity and other facets of the local Church's life.

DERRY DIOCESAN TRUST
CORPORATE TRUSTEE'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Delegation of management
In the day to day management of the charity, the Bishop refers ecclesiastical-related matters to the Chancellor of
the Diocesa, the Diocesan Secretary. the Vicars General and other appropriate officials. Civil administrative matters
are referred to the executive staff employed by the charity.
The Trust Council delegates oversight of the Diocese's financial, propety, investment and administration matters to
the suitably qualified clergy and staff within the Curia. The Trustee Board delegates day-to-day management of the
charity (other than areas of a canonical and pastoral nature which are managed by a number of Diocesan clergy) to
the following Diocesan staff members..
Kevin Mccauley Bsc FCA- Executive Director, Derry Diocesan Trust
Teresa McMenamin-Administrative and Financial Secretary, Derry Diocesan Trust
Oonagh Robinson- Diocesan Trust Officer, Derry Diocesan Trusl
Finola Downey- Administrative Officer, Derry Diocesan Trust
Remuneration policy
The process of setting pay and remuneration of the Diocesan Trust's key management personnel is undertaken by
the Bishop of the Diocese (who is the Chair of the Trustee Board) in consultation with the Diocesan Personnel
Committee and the Trustee Board.
Statement of Corporate Trustee's responsibilities
The Corporate Trustee is responsible for preparing the Corporate Trustee's Report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice).
The law applicable to ¢harili8s in Northern Ireland requires the Corporate Trustee to prepare financial statements for
each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources
and application of resources of the charity for that year.
In preparing these financial statements, the Corporate Trustee is required to:
select suitable accounting policies and then apply them consistently-
observe the methods and principles in the Charities SORP-,
make judgements and estimates that are reasonable and prudent.,
state whether applicable accounting standards have been followed. subject to any material departures disclosed
and explained in the financial statements- and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity
will continue in operation.
The Corporate Trustee is responsible for keeping sufficient accounting records that disclose with reasonable
accuracy at any time the financial position of the charity and enable them to ensure that the financial slalements
comply with the Charities Act (Northern Ireland) 2008. the Charity (Accounts and Reports} Regu18tions (Northern
Ireland) 2015 and the provisions of the trust deed. The Corporate Trustee is also responsible for safeguarding the
assets of the charity and hence for tsking reasonable steps for the prevention and detection of fraud and other
irregularities.

DERRY DIOCESAN TRUST
CORPORATE TRUSTEE'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
The Corporate Trustee's report was approved by the Board of the Corporate Trustee.
Most Reveren
Director of St
Donal McKeown
olumb's Diocesan Trust - Corporate Trustee of Derry Diocesan Trust
Dated: 27 October 2023
10-

DERRY DIOCESAN TRUST
INDEPENDENT AUDITOR'S REPORT
TO THE CORPORATE TRUSTEE OF DERRY DIOCESAN TRUST
Opinion
We have audited the financial ststements of Derry Diocesan Trust (the 'charity') for the year ended 31 December
2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the
notes to the financial statements, including a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards,
including Financial Reporting Slandard 102 The Financial Reporting Standard applicable in the UK and Republic of
Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements-
give a true and fair view of the stste of the charity's affairs as at 31 December 2022 and of it5 incoming
resources and application of resources, for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.
and
have been prepared in accordance with Ihe requirements of the The Charities Act (Northem Ireland) 2008.
Basis for opinlon
We conducled our audit in accordance with International Standards on Auditing (UK) (ISAS {UKI) and applicable
law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of
the financial statements section of our report. We are independent of th8 charity in accordance with the elhical
requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
Slandard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basls for our opinion.
Conclusions relating to going concern
In auditing the financial statements, w8 have concluded that the Corporate Trustee's use of the going concern basis
of accounting in the preparation of the fjnancial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertaintles relating to events or
conditions that. individually or collectively, may casl significant doubt on the charity's ability to continue as a going
concern for a period of at least twelve months from when Ihe financial Statements are authorised for issue.
Our responsibilities and the ￿Sponsibl11t1es of the Corporate Trustee with respect to going concern are described in
the relevant sections of this report.
Other information
The other information comprises the information included In the annual report other than the financial statements
and our auditorfs report thereon. The Corporate Trustee are responsible for the other information contained within
the annual report. Our opinion on the financial statements does not cover the other information and we do not
express any form of assurance conclusion thereon. Our responsibility is to rsad the other informalion and, in doing
so, consider whether the other information is materially inconsistent with the financial statements or our knowledge
obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a
material misstatement in the financial statements themselves. If. based on the work wo have performed. we
conclude that there is a material misststement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing Éo report in respect of the following matters in relation to which the Charities (Accounts and
Reports) Regulations (Northern Ireland) 2015 require us to report to you if, in our opinion:
the information given in the financial slatements is inconsistent in any material respect with the Corporate
Trustee's report-, or
sufficient accounting records have not been kept", or
the financial statements 8re not in agreement with the accounting records., or
we have not received all the information and explanations we require for our audit.
11

DERRY DIOCESAN TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE CORPORATE TRUSTEE OF DERRY DIOCESAN TRUST
Responsibilities of Corporate Trustee
As explained more fully in the statement of Trustees, responsibilities, the Corporate Trustee are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and for such
internal control as the Corporate Trustee detemiines is necessary to enable the preparation of financial statements
that are free from material misstatement. whether due to fraud or error.
In preparing the financial statements, the Corporate Trustee are responsible for assessing the charity's ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the going
Concern basis of accounting unless the Corporate Trustee either intend5 to cease operations, or have no realistic
alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under soction 6512) of the Charities Act (Northern Ireland) 2008 and report om
accordan￿ with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial ststements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an 8uditor's report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or
error and are Gonsidered material if. individually or in the aggregale, they Gould reasonably be expected to influence
the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting Irr@gularitles, Including fraud, is detailed below.
Extent to which the audlt was consldered capable of detectlng Irrogularities, including fraud
The objectives of our audit in respect of fraud, are., to identify and assess the risks of material misstatement of the
financial statements due to fraud. to obtain sufficient appropriate audit evidence regarding the assessed risks of
material misstatement due to fraud, through designing and implementing appropriate responses to those assessed
risks; and to respond appropriately lo instances of fraud or suspected fraud identified during the audil. However, the
primary responsibility for the prevention and detection of fraud rests with both management and those charged with
governance of the charity.
Based on our understanding of the charity and its operating environment, we determined that the most significant
frameworks which have a direct impact on the preparation of the financial statements are those related to Ihe
reporting framework, {FRS 102, the Charities Act (Northern Ireland) 2008, The Charities (Accounts and Reports)
Regulations (Northem Ireland) 2015, and the Charity SORP). Compliance with these laws and regulations was
assessed as part of our procedures.
Other laws and regulations of which non-compliance may have a material effect on the financial statements. e.g.
through fines or litigation, were identified as regulations in relation to employment law and regulations in relalion to
holding charitable status with the Charity Commission for Northern Ireland. Our required procedures in these areas
are limited to inquiry of trustees and other management and inspection of any regulatory or legal correspondence.
These limited procedures did not identify any actual or suspected non-compliance.
We assessed the susceptibility of the charity's financial statements to material misstatement. including how fraud
might occur, including evaluating management's incentives and opportunities to manage or influence the reported
results. From the results of our assessment, we determined that the principal risks of fraud relate to posting
inappropriate journal entries and use of charity funds for purposes outside of restrictions imposed by the donor. In
common with all audits under ISA5 (UK), we are required to perform specific procedures to respond to Ihe risk of
management override.
12-

DERRY DIOCESAN TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE CORPORATE TRUSTEE OF DERRY DIOCESAN TRUST
Audit response to risks identified
As part of an audit in accordance with ISAS {UK) we exercise professional judgement and maintain professional
s¢epti¢ism throughout the audit. Audit procedures performed by the engagement team included..
We obtained an understanding of the charitable company's internal control systems in order to design audit
procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on
the effectiveness of the charity's internal control.
We obtained an understanding of how the charity complies with relevant laws and regulations, including
those as a result of its registration with the Charity Commission for Northem Ireland and charitable status
with HM Revenue & Customs, by making enquiriès of management and those charged with governance.
Enquiry of management, those charged with govemance and the entity's solicitors around actual and
potential litigation and claims.
Enquiry of entity staff to identify any instances of non-compliance with laws and regulations,
Performing analyti¢al procedures to identify any unusual or unexpeded relationships that may indicatè
risks of material misstatement due to fraud
Reviewing minutes of meetings ofthose charged with governance
Reviewing financial statement disclosures and lesting to supporting documentation to assess compliance
with applicable laws and regulations.
Auditing thè risk of management override of controls, including through testing joumal entries and other
adjustments for appropriateness, and evaluating the business rationale of significanl transactions that are
unusual or oulside the normal course of business.
Auditing the risk of use of charity funds outside of restrictions imposed by the donor by review of funding
letters of offer to identify restrictions, and review of funding claims prepared by management to check
Complian￿ with restrictions.
We communicated relevant laws and regulations and potential fraud risks to all engagement team members, and
remained alert to any indieations of fraud or non-compliance with laws and regulations throughout the audit. There
are inherent limilalions in the audit procedures described above and the further removed non-compliance wilh laws
and regulations is from the events and transactions reflected in the financial stalemenls, thè less likely we would
become aware of it. Also, the risk of not detecting a material misslatement due to fraud is higher than the risk of not
detecting one resulting from error, as fraud may involvè deliberate cOn￿alment through collusion, forgery,
Inlentional omissions, misrepresenlations or the override of internal control.
A further descriplion of our responsibilities is available on the Financial Reporting Council's website 3t= https'.11
www.frc.org.ukJauditor5responsibilities. This description forms part of our auditols report.
Use of our report
This report is made solely to the charity's truslees, as a body, in accordance with part 4 of Ihe Charities (Accounts
and Reports) Regulations {Northern Ireland) 2015. Our audit work has been undertaken so that we might state to
the Gharity's trustees those matters we are required to state lo them in an auditors, report and for no other purpose.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone olher Ihan the charity
and the charity's trustees as a body, for our auditwork, for this report, or for the opinions we have formed.
n Bradley (Senior Statutory Auditor
for and on behalf of Moore INII LLP
27 October 2023
Chartered Accountants
ststutory Auditor
21123 Clarendon Street
DerrylLondonderry
BT48 7EP
Moore (Nl) LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as
auditor of a company under section 1212 of the Companies Act 2006.
13-

DERRY DIOCESAN TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2022
Current financial year
Unrestricted Restricted
funds
funds
2022
2022
Total
Total
2022
2021
Notes
Income and endowments from:
Donations and legacies
Charitable activities
Investments
Other income
637,067
9.588.494 10.225.561
193,600
193,600
224,803
252,899
768,443
1,259,454
9.204,514
980,663
232,771
1,812,123
28,096
491,011
Total income
1,156,174 10,775,340 11,931,514 12.230.071
enditure on:
Charitable activities
Parishes
Curial
9,450,355 9,450,355 9,567,204
1,644.230
2,603,622
1,599,485
959,392
Total charitable expenditure
959,392 11,094,585 12,053,977 11.166,689
Net {losses)Igains on investments
10
(301,809) {1,696,035) (1,997,844) 1.897.045
Net {outgoing}lincoming resources before transfers
{105,027} {2.015,280) (2,120,307> 2.960.427
Gross transfers between funds
22
1209,559)
209,559
Not (outgoing)lincoming rosourcos
(314,586) (1,805.721) (2,120,307) 2,960,427
Other recognised gains and losses
Other gains or losses
12
11,533
(19,466)
(7,933)
20,158
Net movement In funds
{303,053) {1,825,187) (2,128,240) 2,980,585
Fund balances at 1 January 2022
5.452.379 72,839,831 78,292,210 75,311,625
Fund balances at 31 December 2022
5.149.326 71.014.644 76,163,970 78,292,210
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
14-

DERRY DIOCESAN TRUST
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2022
Prior financial year
Unrestricted Restricted
funds
funds
2021
2021
Total
2021
Notes
Income and endowments from:
Donations and legacies
Charitable activities
Investments
Other income
589,347
8.615,167
980,663
184,653
859,123
9,204,514
980,663
232,771
1,812,123
48,118
953,000
Total Income
1,590,465 10,639,606 12,230.071
enditure on:
Charitable activili
Parishes
Curial
9.567,204 9,567,204
987,087
1.599.485
612,398
Total charitable expenditure
612,398 10,554,291 11,166,689
Net galnslllosses) on investments
10
150,324 1,746,721
1,897,045
Net (outgoing)lincoming resources before transfers
1,128,391
1,832,036 2.960,427
Gross transfers between funds
22
(177,954)
177,954
Net (outgoing)Ilncomlng resources
950,437 2,009,990
2,960,427
Other recognlsed galns and losses
other gains or losses
12
(19,715)
39,873
20.158
Net movement in funds
930,722
2,049,863 2,980,585
Fund balances at 1 January 2021
4,521,657 70.789,968 75.311.625
Fund balances at 31 December 2021
5,452,379 72.839,831 78,292,210
15-

DERRY DIOCESAN TRUST
BALANCE SHEET
AS A T 31 DECEMBER 2022
2022
2021
Notes
Fixed assets
Tangible assets
Inveslrnents
13
14
32,158,040
18,228,244
32,538,883
20.037,877
50,386,284
52,576,760
Current assets
Debtors
Cash at bank and in hand
15
3,871,586
23,680,383
3,985,176
23,243,230
27,551,969
27,228,406
Creditors: amounts falling due within
one year
17
{658,672)
(621,879)
Net current assets
26,893,297
26.606,527
Total assets less current Ilabilities
77,279,581
79,183,287
Creditors: amounts falling due aftor
more than one year
18
(390,611)
(527,147)
Provisions for liabilitles
19
(725,000}
(363,930)
Net assets
76,163,970
78,292,210
Income funds
Restricled funds
Unrestricted funds
20
71,014,644
5,149,326
72,839,831
5,452,379
76,163,970
78,292,210
The financial st
ements were approved by the Corporate Trustee on 27 October 2023
Most Reve
Director of St
Donal McKeown
olumb's Diocesan Trust - Corporate Trustee of Derry Diocesan Trust
16-

DERRY DIOCESAN TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2022
2022
2021
Notes
Cash flows from operating activities
Cash absorbed by operations
25
(309,724)
(662,888)
Investing activities
Purchase of tangible fixed assets
Proceeds on disposal of tangible fixed
assets
Purchase of investments
Proceeds on disposal of investments
Interest received
(200,868)
850,049
(250,270}
54,107
252,899
2,318,039
(274)
786,824
232.771
Net cash generated from investing
activities
906,785
3,136,492
Financing activities
Proceeds from borrowings
Repayment of borrowings
Repayment of bank loans
80,000
(186,145)
(39,807)
(18,150}
(136,536)
Net cash used In financing activities
(154,686)
{145.952)
Net Increase in cash and cash equivalents
442,375
2,327.652
Cash and cash equivalents at beginning of year
23,177,161
20,849,509
Cash and cash equivalents at end of year
23,619,536
23,177,161
Rolating to:
Cash at bank and in hand
Bank overdrafts included in creditors
payable within one year
23,680,383
23,243,230
(60,847)
(66,069)
17-

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Accounting policies
Charity information
Derry Diocesan Trust is a registered charity in Northern Ireland. The charity operates in Northern Ireland and
Republic of Ireland. The address of the registered office is given in the charity infomation. The nature of the
charity's operations and principal activities are-
11 the advancement of Roman Catholic religion in the Roman Catholic Diocese of Derry subject to any fuknre
curtailment or addition of area made in accordance with the laws and regulations of the Roman Catholic
Church. and
21 the advancement of any charitable purpose supporled by the Roman Catholic Church throughout the world
or in any part of the world.
1.1 Accounting convention
The financial statemenls have been prepared in accordance with the charity's constitution, the Charities Act
{Northern Ireland) 2008 and "Accounting and Reporting by Charities.. Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in th8 UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" The charity is a Publlc
Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, Imodified to include the
revaluatlon of freehold properties and to include investment properties and certain financial instruments at fair
value]- The principal accounting policies adopted are set out below.
1.2 Golng concern
At the time of approving the financial statements, the Corporate Trustee has a reasonable expectation that
the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the
Corporate Trustee continues to adopt the going conc@rn basis of accounting in preparing the financial
statements.
1.3 Charitable funds
Unrestricted funds are available for use at the diSc￿tion of the Corporate Trustee in furtherance of their
charitable objectives.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donor5 or
which hav8 been raised by thg charity for particular purposes. The costs of raising and administering such
funds are charged against the specific ￿nd. The purposes and uses of the restricted funds are set out in the
notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met,
the amounts can be measured reliably. and it is probable Ihat income will be received.
Cash donations are recognised on receipl. Other donations are recognised once the charity has been notified
of the donation. unless perfomiance conditions require deferral of the amount. Income tax recoverable in
relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or othe￿iSe if the charity has been notified of an impending distribution,
the amount is known. and receipt is expected. If the amount is not known, the legacy is treated as a
contingent asset.
18-

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Accounting policies
(Continued)
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).
The charity occasionally receives grants in repsect of running costs and upkeep of properties. Income from
grants is recognised at fair value when the charity has entitlement after any performance conditions have
been met, it is probable that the income will be receive(S and the amount can be measured reliably.
Investment income is earned through holding assets for investment purposes such as shares and propety. It
includes dividends, interest and rent. Interest income, dividend and rent income recognised as the charity's
right to receive payment is established and is included when the amount can be measured reliably. Where it is
not practical to identify investment management costs incurred within a scheme with reasonable accuracy, the
investment income is reported net of these costs.
1.5 Resources Expended
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it
is probable that settlement will be required and the amount of the obligation can be measured reliably.
Expenditure on charitable activities includes the costs s8rvices undertaken to further the purposes of the
charity by Parishes and Curia.
Irrecoverdble VAT is charged as a cost against the activity for which the expenditure was incurred.
Grants payable to third parties are within charitable objectives. Where unconditional grants 8re offered, this is
accrued as soon as the recipienl is notified of the grant, as this gives rise to a reasonable expeclation that Ihe
recipient will receive the grants. Where grants are conditional relating lo performance, then the grant is only
accrued when any unfulfilled conditions are outside of the control of the charity.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subs8quently measured at cost or valuation, net of
depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their
useful lives on the following bases,.
Parish property and contents
Curia land and buildings
1 % straight line
20/0 Straight line
Freehold land included within Curia land and buildings is not depreciated.
1.7 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are
subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net
incomel(expenditure} for the year. Transaction costs are expensed as incurred.
1.8 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine
whether there is any indication that those assets have suffered an impairment loss. If any such indication
exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment
loss (if any).
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term liquid
investments with original maturities of three months or less. and bank overdrafts. Bank overdrafls are shown
within borrowings in current liabilities.
19-

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Accounting policies
(Continued)
1.10 Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance she&t when the charity becomes paty to the
GontraGtual provisions of the instrument.
Financial assets and liabilities are offset. with the net amounts prèsented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liability simultaneously.
Baslc financlal assets
Basic financial assets. which include debtors and cash and bank balances. are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the
effective interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value of the future receipts discounted at a mark8t rat8 of interest. Financial assets
classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilili8s classified as payable
within one year are not amortlsed.
Debt instruments are subsequently carried at amortlsed cost, using the effective interest rate method.
Trade credilors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual oblig8tions expire or are discharged or
cancelled.
1.11 Taxation
Derry Diocesan Trust is a charity and is recognised as such by HM Revenue & Customs. As a result. there is
no liability to taxation on any of its income.
1.12 Provisions
Provisions are recognised when the charity has a legal or constructive present obligation as a result of a past
event, it is probable thal the charity will be required to settle that obligation and a reliable estimate can be
made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present
obligation at the reporting end date, taking into account the risks and uncertainlies surrounding Ihe obligation.
Where the effect of the time value of money is material, the amount expeded to be required to settle the
obligation is recognised at present value. When a provision is measured at piesent value, the unwinding of
the discount is recognised as a finance cost in net incomel(expenditure) in the period in which it arises.
-20-

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
A¢countlng policies
(Continued)
1.13 Employee benefits
The cost of any unused holiday entitlement is recognlsed in the period in which the employee's setvices are
received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed
to terminate the employment of an employe8 or to provide termination benefits.
1.14 Foreign exchange
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot
exchange rate be￿een the functional currency and the foreign currency at the date of the transaction.
Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated
using the closing rate.
Critical accounting estimates and Judg8m8nts
In the application of the charity's accounting policles, the Corporate Trustee 5s requlred to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent
from oth8r sources. The estimates and associated assumptions are based on historical experience and other
factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both Current and future
periods.
Critical judgements
Property
Curial land and buildings and Church property and contents are stated at cost, where the cost can be
identified. Prior to 1996, the accounting policy applied was for capital expenditure to be written off in full as
incurred. As a result of that policy, the original costs and accumulated depreciation of most curial land and
buildings and Church property and contents held then was not availablè. The Corporate Trust8e's view was
that a reasonable approximation of the net book value of the curial property held at 31 December 2016 would
be established through discounting the insurance values of these assets at that date by 900/..
Key sources of estimation uncertainty
Provlsions for liabilities and charges - legal clalms
The charily has provided foi the expected financial outcome of claims and the associated legal costs that
have been notified to the Corporate Trustee. The Corporate Trustee has laken advice from the solicitors
engaged in the claims to arrive at the amount provided. The details of the amounls provided are included in
note 19.
21

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Donations and legacies
Unrestricted Restricted
funds
funds
Total Unrestricted
fijnds
Restricted
funds
Total
2022
2022
2022
2021
2021
2021
Parishes - offertories.
donations and legacies
Curia - donations,
legacies and gifts
Levy income
Parishes fundraising
7.987,032
7,987,032
7.526,294 7,526,294
55,462
581,605
953,485
258,492
389,485
1,008,947
840,097
389,485
52,698
536,649
445,475
238,509
404,889
498,173
775,158
404,889
637,067 9,588,494 10,225,561
589,347
8,615,167
9,204.514
Charitable activitles
Parishes
Curfa
Total
2022
Parlshes
Curfa
Total
2021
2022
2022
2021
2021
Grants recelved
193,600
193,600
947.303
33,360
980,663
Grants roceived
HMRC Coronavirus Job
Retention Scheme
Revenue Commissioners
TWSSIEWSS
Dept for Communities
COVID Charities fund
Church refurbishment
grants
Other
171,862
33,360
205,222
5,928
5,928
155,667
155,667
217,286
217.286
115,579
72,093
115,579
72,093
327,488
75,000
327,488
75,000
193,600
193,600
947,303
33,360
980,663

T￿In
O N¢JJ
(yv Vts
o e4

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Other income
Unrestricted Restricted
funds
funds
Total Unrestricted
funds
Restricted
funds
Total
2022
2022
2022
2021
2021
2021
Net gain on disposal of
tangible fixed assets
Parishes
Net gain on disposal of
tsngible fixed assets -
Curial
Other income
Income from solar panels
and NIE
Income from insurers
Income from candles and
printed material
338,310
338,310
339,758
339,758
491.011
491,011
18,299
953.000
953,000
175,920
18,299
175,920
3,514
101,881
3,514
101,881
955
16.382
955
16,382
306,439
306,439
326,108
326,108
491,011
768,443
1,259,454
953,000
859,123
1,812,123
-24-

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Charitable actlvities
Parishes
Curial
Total
2022
Parishes
Curial
Total
2021
2022
2022
2021
2021
Gross salaries and
employers national
insurance costs
Depreciation and
impairment
Consumables and
administration costs
Clergy stipends
Pasloral costs
Donations
Premises costs including
insurance
Repairs and maintenance
Diocesan levy
Pilgrimages and retreats,
conferences and events
Bank charges and interest
Accountancy fees
Professional and
consultancy fees
Miscellaneous and sundry
expenses
Legal claims and
associat8d costs
Retirèd priests stipends
and expenses
Clerical students, fees and
ongoing formation
S8feguarding costs
Pasloral Centre activities
Catechetical Centre
activities
Regional Marriage Tribunal
Irish Hierarchy
1,822,438
445,923 2,268,361
1,813,827
442.317 2,256,144
339,320
28,747
368,067
339,020
28,747
367,767
719,555
773,273
192,220
92,547
33,194
752,749
773,273
293,135
931,539
706,178
814,778
228,283
89,092
38,823
745,001
814,778
326,346
290.160
100,915
838,992
98,063
201,068
1,614,348
2,747,701
840,097
44,103 1,658,451
1,223,894
322 2,748,023 3,375,397
840,097
775,158
50,472 1,274,366
1.316 3,376.713
775,158
65,980
74,425
35,061
65,980
75,595
45,501
2,544
64,012
46,565
2,544
65.168
57,005
1,170
10,440
1,156
10,440
96,745
17,487
114,232
43,311
8,106
51,417
36,645
4,931
41,576
45,145
9,855
55,000
361,070
361,070
163,294
163,294
168,839
168,839
76,474
45,401
95,859
76,474
45,401
95,859
109,270
50,048
105,437
109,270
50,048
105,437
179,705
29,916
125,679
179,705
29,916
125.679
147,369
25,150
103,009
147,369
25,150
103,009
9,450,355 2,603,622 12,053,977 9,567,204 1,599,485 11.166,689
Analysis by fund
Unrestricied funds
Restricted funds
959,392
959,392
9,450,355 1.644,230 11,094,585 9.567.204
612,398
612,398
987,087 10.554,291
9,450,355 2.603.622 12,053,977 9,567,204 1,599.485 11,166.689
-25-

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Corporate Trustee
The Corporate Trustee (nor any persons connected with them) did not r8c8ive any remuneration or benefits
from the charity during the year in respect of the role of Trustee.
Employees
The average monthly number of employees during the year was:
2022
Number
2021
Number
Curial employees
Parish employees
13
15
202
Total
197
217
Employment costs
2022
2021
Wages and salaries
2,268,361
2.256.144
There were no employees whose annual remuneration was £60,000 or more.
10 Nel gainsl(losses) on investments
8S ￿Stated as r8Stated
Totsl Unrestrlcted Restrictad
Total
funds
funds
Unrestrlcted Restrlcted
funds
funds
2022
2022
2022
2021
2021
2021
Revaluation of
Investments
(301,809) (1,696,035) {1,997,844)
150,324
1,746,721
1,897,045
11 Taxation
The charity is exempl from tax on income and gains falling within section 505 of the Taxes Act 1988 or section
252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
12 Other gains or losses
Unrestrlcted Restricted
funds
funds
Total Unrestricted
funds
Restricted
funds
Total
2022
2022
2022
2021
2021
2021
Foreign exchange gains
11,533
(19,466)
(7,933)
(19,715)
39,873
20.158
26-

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
13 Tangible fixed assets
Parish Curla land and
property and
bulldings
contgnts
Total
Cost
At l January 2022
Disposals
33,932,040 1,437.344
{13,446)
35,369,384
(13.446)
At 31 De￿mber 2022
33,918,594 1,437,344
35,355,938
Depreciation and Impalmient
At 1 January 2022
Depreciation charged in the year
Eliminated in respect of disposals
2.613.825
339,320
(670)
216,676
28,747
2,830,501
368.067
(670)
At 31 December 2022
2,952,475
245,423
3,197.898
Carrying amount
At 31 December 2022
30,966,119 1,191,921
32,158,040
At 31 December 2021
31,318,215 1,220,668
32,538,883
27-

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
14 Fixed asset investments
Parishes
Curia
investments investments
Total
Cost or valuatlon
At 1 January 2022
Additions
Valuation changes
Service fees
Disposals
5,793,908
14,243.969
20.037.877
270
250,000
250,270
(604.161) 11,393,685) {1.997,846)
{7.950)
(7,950)
(54,1071
(54,107)
At 31 De￿rnber 2022
5,135,910
13,092,334
18,228,244
Carrying amount
At 31 December 2022
5,135,910
13,092,334
18,228,244
At 31 December 2021
5,793,908
14,243,969
20,037,877
15 Debtors
2022
2021
Amounts falllng due within one year:
Other debtors
3,871,586
3.985,176
16 Loans and overdrafts
2022
2021
Bank overdrafts
Bank loans
other loans
60,847
447,431
365,546
66.069
583,967
383.696
873,824
1,033,732
Payable within one year
Payable after one year
483,213
390,611
506,585
527,147
Amounts included above which fall due after five years:
Payable by instalments
163,331
299.867
-28-

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
17 Creditors: amounts falling due within one year
2022
2021
Notes
Bank loans and overdrafts
Other borrowings
Other taxalion and social security
Accruals and deferred income
16
117,667
365,546
122,889
383,696
35,593
79,701
175,459
658,672
621,879
18 Creditors: amounts falling due after more than one year
2022
2021
Notes
Bank loans
16
390,611
527,147
19 Provisions for liabllities
2022
2021
Legal claims and associated costs
725,000
363,930
Movements on provisions..
Legal Clalms
and
associated
costs
At 1 January 2022
Additional provisions in the year
363,930
361,070
At 31 December 2022
725,000
The charity has made a provision in the financi81 statements of £725,000 {2021.. £363,930) in relation to
ongoing legal claims and associated cosls. The charity has quantified the likely financial oulcome based on
legal advice received. There is scope for amounts ultimately payable in respect of leg81 c18ims to be mitigated
by insurance cover.
-29-

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DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
21 Analysis of net assets between funds
Unrestricted Restricted
funds
funds
2022
2022
Total Unrestricled
funds
2021
Restricted
funds
2021
Total
2022
2021
Fund balances at 31
December 2022 are
represented by..
Tangible assets
Investments
Current assetsl(liabilities)
Long term liabilities
Provisions
655,848 31,502,192 32.158.040
670.074 31.868,809 32,538,883
2,573,743 15.654,501 18,228,244 2,875,553 17.162,324 20.037.877
2,644,735 24.248,562 26,893,297 2,270,682 24.335,845 26,606,527
(390,611) (390,611)
(527,147) (527.147)
(725,000) 1363,930}
(363,930)
(725,000)
5,149,326 71,014,644 76,163,970
5,452,379 72.839,831 78,292,210
22 Transfers between funds
There have been transfers be￿een funds during the year totslling £209,559 (2021.. £177,594) from
unrestricted reserves to restricted reserves, which represents central Curia funding towards Parishes and
Pastoral and Catechetical Centre activities.
23 Related party transactlons
There were no disclosable related party transactions during the year {2021- none).
24 Amounts held as agent
There ar8 various collections taken up during the year within the Diocese that are collections undertaken as
agent on behalf of other organisations. These funds are lodged lo the bank and then paid to the individual
organisations. The asset and liability are not recogniseé within these financial statements.
The amount offunds held by the charity at the year end as an agent was £46,070 (2021.. £45,174>.
2022
25 Cash generated from operations
2021
(Deficitysurpus for the year
12,120,307)
2.960,427
Adjustments for:
Investment income recognised in statement of financial activities
Foreign exchange differences
Gain on disposal of tangible fixed assets
Fair value gains and losses on investments
Depreciation and impaimient of tangible fixed assets
{252,899)
(232,771)
(7,933)
20,158
(829,321) (1,252.758)
1.997,844
(1,897,045)
368,067
367,767
Movements in working capital..
Decreasel(inGrease) in debtors
Increase in creditors
Increase in provisions
113.590
60,165
361,070
(630,746)
2,080
Cash absorbed by operations
{309,724)
(662,888)
-33-

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
26 Analysis of changes in net funds
At 1 January
2022
Cash flows At 31 De¢ember
2022
Cash at bank and in hand
Bank overdrafts
23,243,230
(66,069)
437,153
5,222
23,680,383
{60,847)
23,177,161
442,375
23,619,536
Loans falling due within one year
Loans falling due after more than one year
{440,516)
(527,147)
18,150
136,536
(422.366)
(390,611)
22,209,498
597,061
22,806,559
-34-