Charily registration number NIC105256
DERRY DIOCESAN TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THEYEAR ENDED 31 DECEMBER 2023

DERRY DIOCESAN TRUST
CONTENTS
Page
Charity Infomialion
Corporate Trustee's r8POrt
2-12
Independent audilor's report
13-15
St8tement of financial activities
16-17
Balance sheet
18
statement of cash flows
19
No18s lo Ihe financial ststements
20-35

DERRY DIOCESAN TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Corporate Trustee
St. Columb's Diocesan Trust
N1012385
Directors of the Corporate Trusta8
Most Reverend Donal McKeown
Reverend Michael Canny
Reverend PaLJI Mccafferty
Mr Shaun McElhinney
Mr Sean O'Kane
Reverend Michael Mccaughey
Ms Aine Gallagher
Mr Ciaran Hampson
Fiona Schlindwein
Ms Brenda Morris
Charlty numbor
NIC105256
Registered office
Bishop's Hous8
St. Eugené's Cathedral
Francls Street
Derry
Auditor
Moore (NII LLP
21123 Clar8ndon Street
DerrylLondonderry
BT48 7EP
Bankers
Bank of Ireland
27 Culmore Road
Derry
8T48 8JB
Solicitors
Napier & Sons
1-9 Castle Arcade
High Street
Belfasl
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 2023
The Directors of the Corporate Trustea present their report and financial statements for the year ended 31
December 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the
financial stalemenls and comply 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 Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
1021 (effective 1 January 2019)"
The Diocese of Derry is a Diocese of the Roman Calholic Church in Ireland with the majority of its parishes and
aclivitt.es being within Northern Ireland and smaller but significanl body of ils parishes and activities being in the
Republic of Ireland. Derry Diocesan Trust is a charity regislered wilh ihe Charity Commission for Norlhern Ireland.
Dp.rry Diocesan Trusl is in essence the registered charity and Civil law form of the Diocese of Derry.
Objecttves and actlvitlas
The principal obieclts of the charity are..
the advancement of the Roman Catholic religion in the Roman Catholic Diocese of Derry subject to any
futur8 Curtailment or addition of area rnade in accordance with the laws and regulations of the Roman
Catholic Church., and
the advancement ol any charitable purpose supported by the Roman Catholic Church throughout the world
or in any part of the wortd.
Th8 territory covered by the Diocese of Derry is made up of 51 Parishes across parts of Counties Derry, Tyrone and
Donegal and a very small part of County Antrim.
The Church in Derry, in union with the Catholic Church worldwide, seeks to achieve its objectives through aclivities
including the following..
Proclamatlon of the Gospel
Worship of God
Provision of Clergy and pasioral personn81
Formalion and developmgnt of parish communities
Support for families
Provision of educational, pastoral and youth ministries
Piovlsion and maintenance of p5aces of worship
Aid for impoverished and noedy communities worldwide.
The means used to fulfil the purposes of the Diocesan Trust are constantly monitored 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 Charity Commlsslon for Northern Ireland public
benefit Tequiremant statutory guidance
The Corporale Truslee confirms that is has paid due regard lo the public benefit guidance issued by the Charity
Commission for Northem Ireland in determining Ihe activities undertakan by the charily.
Proclamation of the Gospel and Worship of God
Within the Diocese religion is normally advanced through the building of parish Communities.
This Includes
provision of places of worship, the facililation of religious practice and through communily celebrations of the Liturgy
and the Sacraments. There is a public celebration of Mass every day in Ihe maioiily ot Parishes and on every
weekend several community Masses are currently celebraled in public in 50 of the 51 Parishes of the Diocese. 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 prograTnmes pertaining to Spiritual formation and developmènt, encouraging and supporting inter-church
relationships and rnaintaining 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 heritsge. As these places of worship are open to the general
public, people of all faiths or none. they provide a public benefit for thè 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 2023
It is within Parishes that peopl8 experience what it is to be a membar 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 manifesled through the means of Parish organised pastoral, social
and educational activities. many of which rely on the voluntary irivolvement of parishioners.
As well as pastoral care and the provision of the Sacraments to the members of parish communilies, the Diocese
offers chaplaincy services to those who cannot be part of a regular parish community. Hospital Chaplain5 are
available at 811 the major hospitals within Ihe Diocese of Derry. The Chaplains are regularly avai18ble to patients,
palienls, relatives and staff and are on call to attend in emergencies. The Diocese also provides chaplaincy setvices
in HMP Magilligan.
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 DioLe38 lo continue to fulfil and develop its staled objectives.
Volunteers genp.rously give of their time serving in various ministries, caring lor and visiting the sick, the
housebound and those on th8 margins of society. They play a signrficant role in helping to maint8in Parish property
and assisting in financial and other administrative dulles, such as through membership of Parish Pastoral, Finance
and Safeguarding Committees. Such parishioners are the lifeblDod of their communitiès and their contribution is
slgnificant. The Diocese has around 850 volunteers whD provide a volunlary contribution to Ihe Diocese withln their
respective Parishes on 8 regular basis.
Although the charity relies principally on donations from p8rishioners for its fijnding, access to religious services is
never r8stricled on the ground5 of financlal contribulions. In addition, members of the Catholic communily are
encouraged, as a coiisequence of their faith commitment, lo contribute towards creating a better society by
becorning acliv8 volunteers within their local area through membership of charities, local societies and community
groups.
The vast majority of Parishes have a Conference of the St Vincent De Paul Society whlch collect funds at weekend
Masses and confidentiality provides financial and other support to people in need, irr8spective of religious
officiation.
Alongsid8 the work accomplished in the Parishes, the Curia, the Central administrative office of the Dloces8,
coordinates and carries oul a number of essei)lial functions necossary for the advancement of Catholic religion at
local, national and inlèmatlonal level. In ord8r lo do this, the Curia operales through Diocesan Committe8s and
through various personnel charged wilh specific responsibilities.
Provislon of Clergy
Central to Parish life is the relationship between the Parish Priest, Curates and parishioners. Clergy are not
employees of Ihe Diocese, however, In Canon Law the care and welfare of incardinated Priests of the DI0￿Se is
mandatory and is, therefore, part of the charity's ongoing commitments.
Support for Fami1105
Family Ministry within the Di0￿Se is dedicated to slranglhening marriage and families by coordinaling p8Storal
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 slrive to live in a very challenging culture and a rapidly changing world, 'F8mily Ministry,
serves as a resource for families, clergy and parish communities.
Education
The Diocese of Derry continues to dèdicate personnel who support the work of the 135 schools which are in
Catholic Trusteeship within the Diocese of Derry. This programme not only engages with classroom teachers,
schools, leadership and Governors but also promotes strong links with Ihe local parish comTllunities in the inlerest of
a rounded education.

DERRY DIOCESAN TRUST
CORPORATE TRUSTEE'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Crlteria for measurlng progress against alms and objectives
The nature of the objectives and activities of the Diocesan Trust are such that il is difficult to measure and assess
succass using quanlitatlV8 or olher similar measuremant rnethodologies. Howe.ver, the Diocasan Trust is satisfied
thal it h8s continued lo engagp. in levels of activity that safeguard Ilie achievement of its core objectives which in
turn continue to sustain ihc promotion and practice of Catholic faith within and beyond the Diocese. The Diocese
has succeeded in providing clergy, pastoral personnel and resources to suslain the structure and activities of
parishes. 11 has succeeded in maintaining programmes of activity in supporting faith-based education. providing
pastoral support to 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 it holds to resourca its key
objectives in cu¥renl times and into the long-term future.
At the heart of the Diocesan stralegy. there has been the development of a culture and vision which acknowledges
erTierqiTJg realities bul avoids promoling a gloomy piclure of tho future. The Diocose believes that this is e88ential if
the Diobese is to be a bearer of hope and hp.aling in th8 face of many real challe.nges.
Achievements and pertormance
The COVID pandemic brought very significant difficulties for the Diocese in carying on Its prlmary activities of
promotion of the Catholic faith and proclamation of the Gospel across all fifty-one parishes in the Oiocese of Derry.
However, it is a k8y feature of the Diocesan strategy to prepare parish communilies for changing times and any
challenges to our mission focus.
The Dio¢es8 of Derry has sought to respond to ch8nging social contexts. Two dedicatad DiocEsan Pastoral
personnel are employed to help parishes develop new ways of reachlng out lo people who. for whalever reason, do
not attend church regularly. Two Diocesan Youth workers have bean developing ways of communicaling with young
people, many of whom are so-called 'digilal natives,. Since 2022. the Diocese of Derry has developed a Synodal
Process as part of the Universal Church process and of the Irish Synodal Pathway. This has involved facilitating
parish 8nd deanery-based conversations, le8éing to the development of Diocesan submissions to documentation
for the Catholic Church in Ireland.
Synod Proccss
Following the 2021 announcement by Pop8 Francis of a Synod of Bishops, on the theme of synodality wilh Ihe
official litle 'For a Synodal Church: Communion, Particlpalion, 8nd Mission.. during 2023 Ihe Diocese continued its
local preparalion, listening and dialogue in advance of the Synod of Bishops, the first session of which took place
from 4 - 29 Octob8r 2023.
Since that first session, the Diocese has fvrther engaged wlth parish communities, to provide a response to the
following question: How can we imagine the life of the Church in Ireland where people are co-responsible for the
Lhurch's mission in differenl ways?
Parishes report a gradual return to aclive parish life, although many congregations are not as large 85 pre-COVID.
Diocesan staff offered training to parishes to ensure that best use could be made of modem lechnology and Glergy
were upskilled to make use of new opportunities. The Catechetical Centre and the Youth Commission developed
innovative and effeclive ways of contacting and supporting both school8 and young people. Thus the Diocese has
been able to continue its work of providing pastoral support to people in the 51 parishes in both the Northèm Ireland
and Republic of Ireland jurisdictions.
The Di0¢8san Trusl has continued to seek lo apply its resources to provlde pastor81 support to communitie5 an
families in its partshes. and by the end of 2023 has developed the range of programmes which are delivered by
clergy alongside staff and volunteers in parishes. In addition, there are programmes which are coordinated and
delivered across the Diocese by the Diocesan Catechetical Centre and the Diocesan Pastoral Centres. Pastor21
programmes include support for the elderly and sick, youth development programmes and programmes delivered in
conjunction with schools.

DERRY DIOCESAN TRUST
CORPORATE TRUSTEE'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trust is involved actively in èducation and practical engagemenl wilh the environmental challenge5 facing the
planet and is committed to conlinuing its efforts and il monitors on a continuous basis its progress in Ihis area.
The Diocesan Trust also seeks to carry on actlvilies which meet it8 charitable objectives beyond the geo9raphical
territory of Ihe Diocese of Derry. Funds generaled afe then applied to missionary activities and programmes aimed
at alleviating poverty beyond the Diocese of Derry and beyond Ireland.
Throughout the year 2023, the Diocesan Ttust Continued with its r8gular seri8s of Trust and Trust Comrnitte8
meetin9s lo ensure the ongoing good govemance of the Diocesan Trust.
Development of Parish Leadership
At the end of the year, seven people are employed in Parish FaithlPastoral Coordination in parishes across the
diocese, Buncrav)a, Claudy, B3nagher, Steelstown, St Eugene's Cathedral, Long Tower and the Three Patrons
parish. Thèir locus is on faith formation, how parish Gommunities work lo le8ch and hand on faith, develop new
ways of learning and practising faith and building up community, and developing ngw ways of gathering
communities for prayer. The Diocesan Mission team has gathered this group, along with the Youth Ministry Team,
the Catechetical Centre, the Columba Community and the TermonbaGca team, to explore ways of Gollaboralion 3nd
supporting each other.
Focus on Vocatlons
At Ihe end of Ihe yoar, the diocese has t￿0 students stLJdying in Rome and one in Maynooih, with one making final
preparation for his propaedeutic year in Salamanca. All the faithful of the diocose are asked to continue prayii)g for
vocations, through the systamatic, ongoing work of the Diocesan Vocations Director.
Maintenance of Bulldings and Property
The Dioc8san Trust has actively continued to manage and safegu8rd the condition of the buildings and properties
Ihal it holds in trusl to meel its charitable objeclives including churches, parlsh halls and parochial houses. The
Trust aims lo maintain all properties in a good slate of repair and has completed a number of subst8ntial repair and
relurbishment project8 during th8 year. Projects of this nature are financed through a mix of parish financi81
reserves, project fundrai8inq programmes and coll2Ltion5. sp8ci81-purpose donations and grant funding frorn
extem81 bodies. The maintenance arbd refurbishment of property and buildings assist in safeguarding the ongoing
activities of th8 Diocese and also benefit the broader community through the protection and safe9uarding of the built
environment and heritage bulldings.
structural Change for more effective outreach
Having reviewed along with the clergy of Ihe Diacese, who 8re most directly affected, Bishop McKeown has
proposed creating pastoral communities, wilh a missionary focus, where the current aim is to have at least two
priests in each pastoral community. The purpose is to carry out more effectively the outreach mission of the
diocese. The Ihrce of thes8 areas havp. been established. This model will give parishes more of an opportunlly
of working cooperatively with their neighbours, sharing their gifts, talents and resources. Parishès, whilo retaining
their individual parish identity, will share clergy. There WIIS b8 a gradual introduction of these areas over a period of
years.
The Diocese continues its work of providing pastoral support ta the communities and families in the 51 parishes in
the Diocese, as they face many of the challenges of a changing society. wilh a focus on the mission of sharing the
positive message of the Gosp81.
On-going engagement with Youth and Schools in tha Diocese
The Diocese, supported by Derry Diocesan Trust, continues to assist the work of the primary and posl-primary
schools which are in Catholic Trusteeship. In 2023, the Diocese hosted ils second Religious Education Conference
for primary and posl-prim8ry school leachers in the Diocese. Organised by the Calechelical Centre, it was held in
Saint Columb's College, Derry with, as main topics, 'Building Communities of Dialogue,, 'FoTgiveness and Catholic
Schoo15 as Essential Pla￿5 of Evangelisalion.. Part of the conference included an evening gathering of parishes in
the Oiocese, focused on 'Building Parish Life.. Attendance was very high for all events. Reaching out to young
people and a commitmenl lo youth ministry remains a top priority of the Diocese and a significant financial
investment.

DERRY DIOCESAN TRUST
CORPORATE TRUSTEE'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
The Diocese continues to support the work of the primary and post-primary schools which are in Catholic
Trusteeship. In Junè 2023 the Derry Diocesan Catechetical Centre org8nised the annual 'Fan the Flame, gathering
in Celtic Park. Over 3,000 pupils who recently receiv￿ the Sacrament of Confirmation attended. from schools in the
Diocese of Derry.
An interesting initiative, 'Ambassadors of Peace,, has been developed by the Catechetical Centre in an effort to help
children understand the gift of the peace of Jesus in their lives and how they are called to live thal out as role
models at home, in school and in their community. The initiative is designed for final yéar pupils in prim8ry school,
wilh the young people being encouragéd to connect the gift of the Holy Spirit in the Sacrament of Confirmation with
their daily lives, their interactions with friends and family, and becomin9 'P9acemakers wherever you are, wherever
you live,.
Funding of Parishes
The Dioi;ese and its parishes rely lafgaly on donations from parishioners to fund its p8Storal programme8, to
maintain its buildings and properties and to meet its running costs. In overall terms, Parishes and the Diorp.se have
been able to conlinue to meet costs and the Diocesan Trust has provided advice and support to Parishes where
financial difficulties have been most acule. The Diocese has explored new methods of ￿ee1VIng donations, The
new 'contsctless payment syslem, will be installed in many parishes over the next year.
Laudato Si and Environmental Strategy
In his 2015 encyclical Laudiilo Si. Pope Francis made a great call for th8 PT8Ctical car8 of our planet, OL6r common
home, especially in this time of climale change. He challenged bath the church and the entire world to engage with
th8 environmental ch¢gllenges presented by climate change. Over the past few yeaTS since the prèsonlalion of
Laudato Si, the Oiocese of Derry has been engaging with the issues raised, and is moving towards the
implemenlalion of The Olocese of Derry EnvSronmenl81 Strategy which was approved by the Trustee Board on 31st
March 2023 and will be kept under regular review.
Thls slralegy provides concrete objectives. as well as practical proposals, in terms of land usage, food, energy
usage, design and management of Diocesan and parish properties, water 2nd waste management, and transport,
as well as the crucial matters of implementation and rnonitoring. The areas are focussed on actioiis by the diocese
and parishes, and by groups or individuals.
A pilot programme was implemented in mid-2023 across four parishes or clusters of parishes covering the Diocesan
Deanery areas. There was an open call in Èach of the parish newsletters for interested parties to joln the
programme 2nd a serles of meetings has taken place over the year across the parishes. Involvement has not been
reslricted to the nominated parishes with many members joining from neighbouring parishes and to date there has
been inter-generational, cross-communily and cros5-border participation which is encouragin9.
A number of plantsng activities look place in Three Patrons and CFJStlederg parishes and other initiatives include
developmenl of relevant but accessible messaging, litter-picking events, eriergy usage and suslain8bility audits and
dec8rbonisation stralagies, and planning for biodiversity and re-wilding schèm8s. Environmental initiative5 are not
restrictad to those panshes taking part in the pilot programme and a number of other parishes have undertaken
associated activities such as screening5 of The Letter, A Message For Our Earth. film (which includes exclusive
dialogue with Pope Francis) and swilching to more energy efficient lighling, which also has added financial benefits.
Laudate Deum Ss an apostolic exhortation by Pope Francis, published on 4th October 2023. It was released on the
2023 Feast of si Francis Assisi as a follow-up ta Laudato Sl.
Edu￿tion and awareness of environmental issues are essential. In addition to regular social media posts, a month-
long 'Season of Creation, was promoted in every parish from 1s1 September 2023 until 4th October 2023 and
resources were shared from the Laudato Si movement in Ireland. Prayers focusing on caring for creation and
tnessages for inclusion in parish bulletins were develDped and shared with the priests during this season, and
during Lent together with promotion of the Trocair8 Lenten Campaign.
There has also been engagement during the year with local council representatives, local schools and the Diocesan
Laudato Si group. A presentation on the Diocesan Environmental Strategy and paiish pilot programme was
delivered to the Conference of Clergy in October 2023.

DERRY DIOCESAN TRUST
CORPORATE TRUSTEE'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
150th Annlversary of St Eugene's Cathedral
St Eugene's Cathedral, Derry is the Mother Church of the Diocese of Derry. 2023 saw the 150th anniversary of thé
Cathedral. To mark the sesquicentennial of the Calhedral's opening in May 1873, Bishop McKeown led a Di0￿san
celebration in the cathedral, al whieh all parishes were represented. The Bishop wore a new chasuble that h3d been
rnade for the occasion, designed and created by Mari8 Horton, a former shirt factory worker, in order to remember,
honour and celebrate the women of Derry who worked for so tnany decades in the shirt factory industry. In line with
the focus on environmental responsibility, at the end of the celebration every p8rish in th8 Diocese was preseT)ted
with two oak Ir8es for planting in parish soil. All of Ihis was arranged as part of the strategy to promote the post
COVID 19 r&energizing of the Diocese and it5 mission.
Safgguardlng
cre.ating a safe envlronment for everyone and specifically for young people and adults at risk is of fundamental
importanLe to the work of the Diocese. The Diocose has a clear strategy for crea11￿9 a safe environment for all
th050 who acc,ess ils premSses ar)d programm8s. The Diocesan structures were independently audit8d in
September 2023 on behalf of the Nalional Board for Safeguarding Children in the Calholic Chiirch in Ireland. Th8
published report of the audit assessed all the safÈgu8rding standards had been aohieved in the Diocese of Derry.
The Diocese of Derry is very conscious of the potential for major damage caused lo the charity's mission, reputation
and resources by any abuse of ohildren or adults at risk.
Invostment pollcy and performance
The Diocesan Trusl has an Investment Policy which sets out ass8ssment criteria for investments including lev81s of
rlsk and performance. The primary financial obj8Gtive of the Diocesan Trust is to ensure that the current and futur8
financial and pastoral obligations of the Dioceso of Derry can be met. The Trusl seeks lo produce the besl financial
rèturn within an acceptabl8 level of risk, maintaining a balance be￿een long-term Gapital growth and income
growth. The investment objective is to generate a return as specified in the Trust's Investment Policy over a rolling
Ihree-y88r period. A moderate amount of risk can be laken in order to achieve this objeclive. The Investment PoliGy
includes a number of areas in which, for éthical reasons, the Dlocesan Trust aims not invest. In particular
investment Is avoidpd in areas where the holdings include organi58tions whose main business and revenue derives
from the manufacture, production, promotion or sale of goods and seNices in the following sectors., abortion,
contraception, defence and 8miamenls. rnedical research methods involving uses of embryos specifically created
for Inedical researGh or the use of erribryonic or foelal material for stem G811 research and pornography.
Following the 2015 encyclical Laudato Si, from Pope Francis, on the care of the planet partiCLtlarly In a tim8 of
climale change, a major five-year review documenl was issued In 2020 by the Holy See, enti118d Journeying
Towards Gare for Our Common Home. One of the practical matters raised in the latter document was the move
from fossil fuels, both in terms of gradual global replacement by renewable energy {p. 134) and "evaluating
progressive disinvestment from the fossil fuel sector" (p. 179). The Council (Board Df Directors) of the Corporate
Trustee approved a Diocesan Environmental Strategy during 2023, the original draft coming from the Dior.esan
Laudato Si, Group. The Diocesan Environmental Strategy includes the need for a "review by the Diocese to avoid
any direct holdings in f05siI-fuel-relaled fund5, following the lead already sot by other Irish Dioceses. (full docump.nt
on diocesan website). Subsequent to this, the Council of the Corporat& Trustee iniliated a review of Ihe Investment
Policy, which was ongoing at year end, to address fossil-fuel-related investrnents,
The Diocesan Trust holds a nurnber of investment portfolios, and it has several inveslmenl managers. Performance
is measured and assessed on an ongoing basis in Ihe context of performance returns, portfolio risk profile and
compliance with the Trust'5 ethical requirements.as set out in the inveslment policy. During 2023 the Trustee Board
was generally satisfied with the investment portfolios in terms of the three criteria listed above. However. ono
portfolio was assessed as generating an unsatisf3Ctory performance return up to 2023 year end, and accordingly a
transfer of funds to another investment manager took place after the year end.

DERRY DIOCESAN TRUST
CORPORATE TRUSTEE'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Financial rovlew
Details of the income and expenditure for the Gurrent and previous financial years are shown in the Statement of
Financial Activilies on pages 16 - 17.
Tobl incomo for the year was £13,365,404 of which £10,941.084 was generated by Parishes and £2.424,320 w3S
generated by central Cutia funds. The principal funding source of the Diocesan Trusl in 2023 has continued to be
donations from parishioners which have been used primarily lo fund the costs of pasloi31 activity, Maintenan￿ of
buildings and administration in the particular parishes in which the donations were received.
Total expenditure for the year was £12,365,056 of which £9,794,006 w35 expended by Parishes and £2,571,050
was expended from central Curia funds.
Therefore income exceeded expenditure for the year by £1,000,348. There were nel galns on revaluation of
Investments to market value of £1,580,765 {2022'. n8t losses of £1,997,844) which combined with slerling-euro
exchange adjuslments resulled in net incoming resources for the Diocese of £2,578,506 12022.. net outgoing
resource5 £2,128,240).
The Diocesan Trust holds reserves of £78.742,476 at 31st December 2023 12022: £76,163,970) comprising
reslricted reserves of £73.816,55012022'. £71,014,644) and unreslricl8d reserves, which exclude parish Teserves,
of £4,925.92612022'. £5,149,326). Details of th8 amounts and purposes of restricted reserve funds are Included in
note 21 in the accounts.
Rèserv85 policy
The Dlocesan Trust recognises that its incorne arises primarily from voluntary donations and that accordingly it is
important to Seek to carry adequate levgls ol reserves to ensure its ability lo meet fulure expenditure commitments
as they arise. Parishes are encoLJraged to mainlain adequate short-term reserves lo ensure that they can meet
operating costs in the short-term and to build longer-lerm reserves that will be available if substanliol commitments,
such as buildings refurbishment projects, arise in the future. Th8 Diocese centrally aims to maintain adequate levels
of re8erwes to meet Diocesan operating costs in the short- to medium-lerm and to provid8 for any significant
expenditures and contirigenci8s that may arise at future dales, The policy of maintaining significanl long-temi
reserves is considered consistent with the expectslion Ihal the Diocese of Derry will continue to exist in perpetuity.
The Diocesan Trust aims lo hold reseNes equating to at least the average amount of operating expendilure for
three months as Free ReseNes. Free Reserves are olefinod as Unrestricted Funds less Tangible Fixed Assets.
Funds invested in Tangiblè Fixed Assets are excluded from Free Reserves as these funds cannot be released
without undcrmining the Diocese's ability to fulfil ils principal charitable objectives. At 31 December 2023, Free
Reserves were £4,289,918 1?_022: £4,493,478) and represented 5.26 months 12022.. 5.71 Th)onthsl of Totsl
Operating Expenditure. Total Operating Expenditure lakes 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 lime, to enable the Diocese to fulfil its immediate financial obligations and Gommrtments and to plan for
future investment requirements.
Principal risk5 and uncertainties
The Corporate Trustee engages in a continuous process of monitoring and identifying risk and seeks to implement
measures to address the risk and mitigate the impact of any negative outcomes. The Corporate Trustee is satisfied
with Ihe charity's ability to continue as a going concern_

DERRY DIOCESAN TRUST
CORPORATE TRUSTEE'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Risk Management
The Trust Council actively reviews all major strategic and operational risks lo which ihe charity is exposed and
Confirms Ihesè have been reviewed and that strategiès and systems are established to manage exposure lo these
risks. The main areas of risk identilied and monitored by the Trust Council include..
Sdfeguarding
Compliance with Health & Safety and lisled buildings legislation
Reduction ID active clergy members
Reduction in voluntary income
Increasing costs for Ihe care ot sick and retirgd clergy
ReduGtion in central reserves due to capital projects and long term commitments
Compliance with data protection regulations
Risks in relation to fraud
Plans for future periods
The Diocese of DerTy recognises that ils core objectives of advancèment of the Catholic faith and PToclamation of
the Gospel remain constant over time and accordingly it aims to maintain its existing activities into Ihe future. At th8
same time the Diocese recognises the changing environment in which it exists and 3ccordingly reviews its pastoral
and operaliDnal progr8mmes and plans on an ongoing basis in an effort to ensure that it Gonlinues to meet its
primary objectives Sn the context of a changing 8nvironment. The Dioces8 is carrying out a process of review
involving broad consultation 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 chLJrch life and finance. In 2023, the
Diocese appointed one of Ihe clergy to prornole the upskilling of parishioners for the purpose of increased
involvement in promoting the mission of the Diocese. The Diocese is actively responding to initiatives pul in place
by Pope Francis including work lo incorporate the principles of Laudato Si into the life and work of the Diocesg and
Its parishes and Synodality programmes in advance of the Synod of Bishops Assemblies in Rome (October 2024).
Furthermore, there is a schedule of residential 8nd non-residential programmes for clergy to support them in
reviewing their pastoral strategies for changing limes.
The Trust has begun the Implementation of ils Diocesan Environmentsl Stratèqy but there is plenty more to do and
there is a genuine urgency in seeking to address the environmental challenges facing the world. In the year ahead,
the Trust hope5 lo continue to raise awareness of environmental matters across the Diocese via events,
communicatlons and encourag8ment of pray8r and reflection as well as 8ncouragernenl lo grow flowers, plants, fruit
and vegetables and to make practical changes to our habils in order lo care for our common home.
Drawing on th8 Centenary events for St Brigid and St Francis, and continuing lo celebrate the inspiration of these
saints with resped to nature and creation, it will plan ahead for the 1 Oth anniversary of Laudato Sl. It ir)tends to
P8rticipate actively in inilialives planned by Derry City and Strabane District Council in the first instance, with
potential lo align with other local council areas within the Diocese.
Through the piSot programme, the Trust plans to Complete a number of sustainability audits and further develop the
decarbonisalion strategy, to develop a pilol community garden project as well as a re-wilding biodiversity project and
to continue lo link with local schools, celebrating their environmental endeavours and PTomoting opportunities for
Dur young people to learn about the environment and climate matters. It also hopes to dgvelop a project to benefit a
community Wlthin a county significantly impacted by climat8 change.
In the Synod process, the Diocese will conllnue its local dialogue, listening and disc8rnment with part5h
communities in advance of the socond Session of the Synod of Bishops, which will lake place in Oclober 2024.
There will be further synodal listening encounters in 2024, using the 'Conversalions in the Spint, model, which has
been used extensively in the Synodal Pathway, including gathorings specifically aimed at young people, organised
by the Diocesan Youth Minislry team. Two priests from the DioGese will travel to Rome, joining a group of 200 from
all over the world, taking part an international synodal meeting of priests. All of this will feed into preparation for
the next session of the Synod of Bishops.
In relation to the developmenl of parish lead8rship, the Diocesan Mission team have planned a retreatlday of
reflection in Autuffln 2024 with the seven Parish Faith I Pastoral Coordination employees, along with other groups.
In 2024 the team will present 'Leading God's People in Prayer,, a four-session serie5 focussing on formation in
prayer leadership and equipping lay people lo lead public prayer in the City Deanery. The same programme will
later be presented in the County Derry Deanery.

DERRY DIOCESAN TRUST
CORPORATE TRUSTEE'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
structurei governance and management
The Roman Calholic Diocese of Derry exi8ts in civil law as the registered charity Derry Diocesan Trust. 8 charitable
trust established by a Trust Deed dated 20th July 2009. On 7th JLAIY 2016, Derry Di0￿san Trust became registered
as a charity with the Chariiy commis.sion for Northern Ireland under charity registration number NIC 105256. For tax
purposes, Derry Diocesarb Trust is also registered with HM Revenue and Customs as holding charitable tax status.
The sole Corporate Trustee of the charity is St Columb's Diocesan Trust, a company limited by guarantee The
Corporate Trustee is authorised by the Lord Chief Justice of Northern Ireland to act in any charitable or
ecclesiastical trust as a trust corporation. The Diocasan Trust is currently carrying out a review of ils 9overnance
structures and arrangements with the support of an independent professional firm.
The operation of the charity is overseen by the Corporate Truslee. The Directors of the Corporate Trustee are
appoint￿d by the Bishop of Dorry who is Chair of Ihe Board (Trust CoLsn¢il)- The Corporate Trustee which served
during the yedr and up to the date of signature of the financial statements was..
St. Columb's Diocesan Trust
The directors which seNed on the Board of the Corporate Twstee during the year and up to the date of signature of
the financi81 statements were..
Most Reverend Donal McKeown
Rever8nd Michael Canny
Reverend Paul Mccafferty
Mr Shaun McElhinney
Mr Sean O'Kane
Reverend Michael Mccaughey
Ms Aine Gallagher
Mr Ciaran Hampson
Ms Fiona Schlindwein
M$ Brenda Morris
Recruitment and appolntment of Trusteès
Recruitrnent of Directors is based upon their knowledge of the local Church and th8ir having the professional skills
and experience necessary for ov8rseeing th8 affairs of the charity by ensuring it is solvent, well run, and that it
delivers the outcomes for which il is established.
Inductlon and tralnlng of Trustees
Ncw memtjers of the Board ol th& Corporalo Trustee are givon an introduction lo Ihe slruclure and governance
arrangements of the Diocesan Trust and to the rolos and responsibilities of the members of the Board of the
Corporate Trustee and its Committees upon appointment. The Diorp%an Trust will provide a number of training days
for members of the Board of the Corporate Trustee. Training days are delivered by external professiondl firms with
r8levant expertise and focus on developments in charily law and practice and on charity governance and
management.
10-

DERRY DIOCESAN TRUST
CORPORATE TRUSTEE'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Organlsational structure
Reflecting Canon Law, the activities of thè charity are separated in this report into Parish and Curia functions.
Parishes
The Diocese is divided into Parish communities. Parish PriestsJAdminislrators and Curates are appointed by the
Bishop to provide p8storal care for Parish communities and to manage Parishes in all juridical affairs thus ensuring
Parishes are administered in accordance with the nomis of Canon and Civil Law while fulfilling the aims of the
charily.
Each Parish is required by Canon Law to have a Finance Committee to assist the Parish PriesUAdminislrator in the
administration of the Parish. Parish Finance Committees include parishioners with knowledgè and experience in
finance, property manageTnent and administration. The Diocesan Tnjst is currently reviewing and updating its
publication Financial and Adrriinistrative Guidelinos for Pdrishes in Drdp.r lo ensure that Ihore is clear and mettningful
guidance in place for Parish Priests, Administrators, Parish Financo Commiltees and Parish Administralive Staff.
Curia
The Diocesan Curi8 consisls of those institutlons which and persons who furnish asslslance to the Bishop and Trust
Council in the governance of the entire Dioces8, especially in direcling pastoral activity. in providing for the
dminlstration of the Diocese and in exercising judicial power. 11 a150 includes all who partiClP2te in the overall
administratlon of the Diocese. especially those who direGI Diocesan activities such as pastoral support, youth work,
education, family life, liturgy, lalty and other facets of the local Church's life.
Delegation of management
In the day-to-day management of the charity, the Bishop refers ec¢lesiastical-related matters to Ihe Chancellor of
the Diocese, the Diocesan Secretary, the Vicars General and other appropriate officials. Civil administrative matters
are referred to the executiv8 Staff employ8d by the charity
The Trust Council delegates ov8rsight of the Diocese's financial, property, investment, personnel and adminislralion
matters to the suitably qualified clergy and slaff within the Curi8. The Board of the Corporate Trustee delegates day-
to-day management of the charity (Other than areas of a canonical and paslaral nature which are managed by
number of Diocesan clergy) to the following Diocesan staff members..
Kevin Mccauley Bsc FCA- ExecutlV9 Director, Derry Diocesan Trust
Teresa McMenamin-Administralive and Financial Secretary, Derry Diocesan Trust
Oonagh Robinson- Diocesan Trust Officer, Derry Diocesan Trust
Finola Downey -Administralive Offi￿r, Derry DioGesan Trust
Remuneration pollcy
The pr()Gess of setting pay and remuneration of the Diocesan Trust's key mdnagcment personnel is undertaken by
the Bishop of the Diocese (who is the Chair of th8 Board of the Corporate Trustee) in consultation with thè Diocesan
Personnel Commillee and the Board of the Corporate Truslee.
11

DERRY DIOCESAN TRUST
CORPORATE TRUSTEE'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
statement of Corporate Trustee's responslbilitles
The Corporate Trustee is responsible for prep8rin9 the Corporate Trustee's Report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdorn Generally Accepted
Accounting Practice).
The law applicable to charities in Northem Ireland requires the Corporate Trustee lo prepare financial slatements for
each financial year which give a true and fair view of the state of affairs of the charity and ol the incoming resources
and application of resources of the charily for that year.
In preparing these financial statements, the Corporate Trustee is required to:
selecl suitable accounting policies and then apply them consistently,.
observe th8 methods and principles In the Charities SORP.,
mak8 judgemenls and 8slimates that are reasonable and prudent.,
stste whelher applicable accounting standards have been followed, subject to any material d8partures disclosed
and explained in the financial statements., and
preparp the financial statements on the going concern basis unless11 is Inappropriate to presume thal the charity
wi15 coniinue in operation.
The Corporate Trustee is responslble for keeping sufficient accounting records Ihal disclose with reasonable
accuracy 8t any time the financial position of the charity and enable them to ensure that the financial statements
comply with the Charities Act (Northem Ireland) 2008, the Charity (Accounts and Reports) Regulations (Northern
Irclandl 2015 and the provisions of the trust deed. The Corporate Trustee is also responsibl8 for safeguarding the
assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud 8nd other
irregularities.
The Corporat8 Truslee's report was approved by the Board of th8 Corporate Trustee.
Most Reverend Do
Director of St Ce.
Dated.. 28 June 2024
al McKeoYm
b's Diocesan Trust - Corporate Trustee of Derry Diocesan Trust
12-

DERRY DIOCESAN TRUST
INDEPENDENT AUDITOR'S REPORT
TO THE CORPORATE TRUSTEE OF DERRY DIOCESAN TRUST
Oplnion
We have audited the financial statements of Derry Diocesan Trust (the 'charity') for the year ended 31 December
2023 which comprise the statement of financial activities. the balance sheet, the statement of cash flows and the
notes to the financial statemenls, including 8 Summary of signilicanl accounting policies. The financial reporting
framework that h8s been applied in Iheir preparation is applicable law and Unitèd Kingdom Accounting Standards,
including Financial Reporting Standard 102 The Financ181 R&porting Standard applicable in the UK and Republic of
Ir61and Iunlted Kingdom Generally Accepled AGcounting Practice).
ID our opinion, the financial statements..
give a true and fair view of the state of the charity 5 affairs as at 31 December 2023 and of its incoming
resources and application of resources, for the year then ended.,
have been p¥operly prepared in accordance with United Kingdom Generally Accepted Accounting Practice..
and
have been prep8red in accordance with Ihe requirements of th8 Thè Charities Act (Northern Ireland} 2008.
Basis for opinion
We ¢anducted our audit in accordance with International Standards on Auditing IUKI {ISA8 {UK)l and applicable
law. Our responsibili118s under thos8 Standards are further described in Ihe Auditor's responsibililies for the audi¢ of
the financial statement5 section of our report. We are ind8pendenl of the charlty in accordance with the othical
requirements thal are relevant to our audit of the financial statements in the UK, Including the FRC'S Ethical
Standard, and w8 have fulfilled our other ethical responsibilities in accordance with these requiremenls. We beli8ve
that the audit evidence we have obtain8d is sufficlenl 2nd appropriale to provide a basis for our opinion.
Concluslons relating to going concern
In auditing the financial statemen15, we have ¢oncluded that the Corporate Trustee's use of the going concern basis
of accounting in the pr8paration of the financial statements is appropriate.
Based on the work we have perfomied, w8 have not identified any material uncertainlies relaling lo events or
conditions that, individually or collectively, may cast significant doubl on the charity's ability to continue as a going
concern for a period of at least twelve Months from wh9n the findncial slalements are authorised for issu8.
Our responsibilities and the responsibilities of the Corporate Tru8lee with respect to going concern are descrfbed in
the relevant sections of this report.
Other Information
The other information compri8e3 the information included in the annuAI report other than the financial staternents
and our auditorfs report thereon. The Corporate Trustee are responsible for the other infr)Tmation conlainp.d within
the annual report. Our opinion on the financial statements does not cover the other infomalion and we do not
expre55 any form ol assurance concluslon thereon. Our responsibility 15 to read th8 olher information and, in doing
so, consider whether the other infomiation is materially inconsistent with the financial statemenls or our knowledge
oblained 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 give5 rise to a
material misststement in Ihe financi81 stalemenls themselves. If, based on thè work we have pèrformed, we
conclude that Iher8 is 8 material misstatement of Ihis other information, we are required to report that fad.
We have nothing to report in this regard
Matters on which we are required to report by exception
We have nothing to report in r8sp8Ct of the following mallers in relalion to which the Charities (Accounts and
Reports) Regulalions (Northern Ireland) 2015 require us to report to you if, in our opinion=
Ihe information given in the financial statement5 is inconsistent in any material re5PeCt with the Corporate
Trustee's report., or
sufficient accounting records have not been kept", or
the financial ststements are nol in agreement with the accounling records. or
we have not received all the information and explanations we require for our audil.
13-

DERRY DIOCESAN TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE CORPORATE TRUSTEE OF DERRY DIOCESAN TRUST
Responsibilitles of Corporate Trustee
As explained more fully in the stalement of Trustees, responsibilities, the Coiporate Trustee are responsible for the
preparation of the financial statements and for being satisfied that they give a tru& and fair view, and for such
internal control as the Corporate TrLJStee detennines is necessafy lo enable the preparalion of financial statements
that are free from material misstatement, whelher due to fraud or error.
In preparing the Iinancial statement5, the Corporate Trustee are responsible for assessing the charity's ability lo
continue as a going concern, disclosing, as applicable, matters related to going concern and using the going
concern basis of accounting unless th2 Corporale TrLtslee either intends to cease operations, or have no realistic
altemative but to do so.
Auditorfs re5ponsibilitles for the audit of the financial statèments
We havè been appointed as auditor under seclion 65(2) of the Charities Act (Northern Ireland) 2008 and report om
accordance with Ihe Act and relevant regulations made or having effect ihereundor.
Our objectives are to obtain reason8ble assurance about whether Ihe financial stalemenls as a whole are free from
materi81 misstatement, whether due lo fraud or error, and Io issue an auditor's report Ihal indudes our opinion.
Reasonable assuranc8 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 misststement when it exists. Misstatemenls can arlse from fraud or
error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence
the economic declsions of users taken on the basis of these financial ststements.
The extent to which our proc8dures are capable of detecting irregularities. including fraud, is detailed below.
Extent to which the audit was considered capable of detectlng Irrogularitles, includlng fraud
The objectives of our audit in respect of fraud, are., lo Identify and assess the risks of material misstatement of the
financial statements due lo fraud,. to obtain sufficient appropriate audit evidence regarding the assessed risks of
material r(iisslatement due to fraud, through designing 2nd implementing appropriate responses to those assessed
risks,, and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the
primary responsibility for the prevention and detection ol fraud reslb with both managemcnt and those charged with
governance of the charity.
Based on our Ljnderslanding of the charity and its operating environment, we determined that the most significant
frameworks which have a direct impact on Ihe preparation of th& financial stalamenls ar8 those related to the
reporting framework, {FRS 102, the Charities Act (Northern Ireland) 2008, The Charities (Accounts and Reports)
Regulations (Northern Irelav)d) 2015, and the Charity SORPI. 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 effecl on the financial statem8nls, e.g.
through fines or litigation, were identified as regulations in relation lo employment law and iegulations in relation to
holding charitable status with the Charily Commission for Northern Ireland. Our required prO￿dUreS in these area5
are limited lo inquiry of trustees and other management and insp8clion 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 statemènts to material misstaternent, including how fraud
might occur, including evaluating management's incentives and opportunities to manage or influence the reported
results. From the Fesults of our assessment, we determined that the prinGipal risks of fraud relate lo posting
inappropriate journal enlries and use of charity funds for purposes outside of restrictions imposed by Ihe donor. In
commor) with all audits under ISAS (UK), we are required to perform specific proc£dure5 to respond to the risk of
mana9ement override.
14-

DERRY DIOCESAN TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE CORPORATE TRUSTEE OF DERRY DIOCESAN TRUST
Audit response to rlsks identlfled
As part of an audit in accordance with ISAS (UK) we exercise professional judgement and maintain professional
scepb'cism ihroughoul Ihè audit. Audit procedures performed by the engagement team included..
We ablained an understanding of the charitable company's internal coiitrol systèms in order lo design akjdit
procedures that are appropriale in the circumstsnces, bul not for the purposes of expressing an opinion on
Ihe effectiveness of the charills internal control.
We obtained an understanding of how the charity complies with relevant laws and rogulations, including
those as a result of its registration wilh th8 Charity Commission for Northern Ireland and charilable slatus
with HM Revenue & Customs, by making enquiries of management and those charged with governance.
Enquiry of management. those charged with governan￿ and the entitys solicitors around actual and
PDtenknal litigation and claims.
Enquiry of entity staff to identrfy any instances of non-compliance with laws and regulalion5.
Perfomiing analytical procedures to identify any unusual or unexpected relationships that may indlcate
risk.% of matenal misstatement due to fraud
Reviewing minutes of me.etings of those charged with govemance
Reviewing financial slalem8nl disclosures and testing to supporting docum8ntstion to assess compliance
with applicable laws and regulalions.
Auditing the risk of management override of conlrDls, including through testing journal entries and other
adiuslments for appropriateness, and evaluating the busin88s rationale of significant transactions that ar8
unusual or outside the normal course of buslness.
Auditing the risk of use of charity funds outside of restrictions Imposed by the donor by revlew of funding
letlers of offer to identify restriclions, and review of funding claims preparad by management to check
compllance with restrictions.
We communicated relevant laws and regulations and potenlial ffaud risks to all engagement Icam members, and
remainèd alert lo any indications of fraud or non-compliance with laws and regulations throughout the audit. There
are inh8renl limitations in the audit procedures described above and the further removed non-compliance with laws
and regulations is from the events and transaclions reflected in the financial statemen15, the less likely we would
become aware of it. Also, the risk of not detecting a material mis8tatement due to fraud is higher than Ihe risk of not
detecting one resulting from error, as fraud may involve deliberate concealmenl through collusion, forgery,
intentional omissions, misrepr8sentalions or the override of internal control.
A further description of our responsibililies is available on the Financial Reporting Council's website at.. https'.11
www.frc.org.uklauditorsresponsiblllties. This description forms part of our auditor's report.
Use of our report
This report is made solely to the Charity's trustees. as a body. in accordance with part 4 of the Charities (Accounts
and R¢ports) Regulations (Northern Ir818ndl 2015. Our audit work ha5 bèen undcrtaken so that we might slate lo
the charity's Injstees those matters we are required to stste to thp.m in an auditors, report and for no other purpose.
To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the charity
and the charily's Iruslees as a body, for our audit work, for this report, or for the opinions we have formèd.
John Bradley {Senior Statutory Audltor)
for and on behalf of Moore (Nl} LLP
28 June 2024
Chartered Accountants
statutory Auditor
21123 Clarendon Street
DerrylLondonderry
BT48 7EP
Moore (Nl} LLP is eligible for appoirilment as aLAdilor of tho charity by virtue of its eligibility for appointment as
auditor of a company under section 1212 of the Companies Act 2006.
15-

DERRY DIOCESAN TRUST
STATEMENT OF FINANCIALACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Current flnancial year
UnrestriGted R8Stricted
funds
funds
2023
2023
Total
Total
2023
2022
Notes
Income and endowments from.
Donations and legacies
Charitable activitias
Inveslmenls
Olher incomo
714.862 11,017,447 11,732.309 10.225,561
294,758
294,758
193,600
409,182
470.022
252,899
866,112
868,315
1,259,454
60,840
2,203
Total in¢om8
777,905 12,587,499 13.365,404 11,931.514
endlture on;
Charitable activities
Parishes
Curlal
9,450,355
9,794.006 9,794,006
979,306 1,591,744 2,571,050 2,603,622
979,3C6 11,385,750 12,365,056 12,053,977
Total charltable expendilure
Nel Ilossesllgains on investments
11
219,930
1,360,835
1,580,765 11,997,844)
Net incomingl(outgoingl resources before transfers
24
18,529 2.562,584 2,581.113 <2,120,307)
Gross transfers btheen funds
1238,347)
238,347
Net (oulgolng)lincoming resources
(219,818) 2,800,931
2,581,113 (2,120,307)
Other re¢ognlsgd gains and losses
OtheT gains or losses
13
(3,582)
975
(2,607)
(7,933)
Net movement in funds
(223,400) 2,801,906 2,578,506 12.128,2401
5,149,326 71,014,644 76.163.970 78,292,210
4,925,926 73.816.550 78,742,476 76,163,970
Fund balances at 1 January 2023
Fund balances at 31 December 2023
The stalement of financial activities includes all gains 8nd losses r8cognised in the year.
The statement of financial activilies includes all gains and losses recognised in the year. All income and expenditure
derive from continuing activities.
16

DERRY DIOCESAN TRUST
STATEMENT OF FINANCIALACTIVITIES (CONTINUED)
INCLUDING INCOMEAND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Prlor flnancial year
Unrestricted Restri¢tod
funds
funds
2022
2022
Total
2022
Notes
Income and 8ndowments 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
28,096
491,011
Total income
1,156,174 10.77S,340 11.931,514
endlture on:
Charitable. aLlivities
Parishes
Curial
9,450.355
1,644,230
9,450.355
2,603,622
959,392
Total charitable expenditure
959,392 11,094,585 12,053.977
Net gainsll1058es) on investments
11
1301,809) {1,696,0351 (1,997,844)
Net incomingl(outgoing) resources before transfers
(105,0271 {2,015,280) (2,120,307)
Gross transfers b8tW88n funds
24
{209,559)
209,559
Net (outgoingllincoming resources
1314,586) (1,805,721 } (2,120,307)
Other re¢ognlsed galns and losses
Other gains or losses
13
11,533
(19,466)
(7,9331
Net movemenl in funds
1303,0531 (1,825,187) {2.128,2401
Fund balances at 1 January 2022
5.452.379 72,839.831 78,292,210
Fund balances at 31 December 2022
5,149,326 71,014,644 76,163,970
17

DERRY DIOCESAN TRUST
BALANCE SHEET
AS A T 31 DECEMBER 2023
2023
2022
Notes
Flx8d assets
Tangible assets
Investments
14
15
32.368,354
19,757,345
32,158.040
18,228,244
52,125,699
50,386,284
Current assets
Debtors
Cash at bank and in hand
16
3,951,208
24,348,977
3,871,586
23,680,383
28,300,185
27,551,969
Creditors: amounts falling due within
one year
18
1796,237)
(658,6721
Net current assets
27,503,948
26.893,297
Total assets less current liabilitles
79,629,647
77.279,581
Credltors: amounts falling due after
more than on8 year
19
(212,1711
1390.611 }
Provisions for liabilities
20
(675,000)
1725,0001
N8t assot8
78,742,476
76,163,970
Income funds
Restricted funds
Unrestricted funds
21
73,816,SSO
4,925,926
71,014,644
5,149,326
78,742,476
76,163,970
The financial statements were approved by the Corporate Trustee on 28 June 2024
Most Reveren
Director of St
al McKeown
b's Diocesan Trust - Corporate Trustee of Derry Diocesan Trust
ol
18-

DERRY DIOCESAN TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
Note5
Cash flows from operating activities
Cash generated fron￿(abSo￿bed by)
operations
28
583,210
(309,7241
Investing activities
Purchase of tangible fixed assets
Proceeds on disposal of tangible fixed
ass8ls
Purchabe of inveblments
Proceeds on disposal of investments
Interest received
{605,747)
524,205
850.049
(250,270)
54,107
252.899
470,022
Net cash generaled from Investing
activltles
388,480
906.785
Financlng activities
Repayment of borrowings
Repayment of bank loans
(115,765)
{178,440>
{18,1501
1136,536)
Net cash used In flnanclng actlvltles
(294,205}
1154,686)
Net In¢rease In cash and cash equlvalonts
677,485
442,375
Cash and c8sh equivalents al beginning of year
23.619,536
23,177,161
Cash and cash equivalent$ at end of year
24,297,021
23.619,536
Relatlng to:
Cash al bank and in hand
Bank overdrafts included in creditors
payable within one yèar
24.348.977
23.680,383
(51,956)
(60,8471
19-

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accountlng policies
Charity infomiatlon
Derry Diocesan Trust is a rp.gistered charily in Northern Ireland. The charity oporales in Northern Ireland and
Republic of Ireland. The address of the registered office is given in the charity infonnation. The nalure of the
charity's operations and principal activities are=
1} the advancemenl of Roman Catholic religion in the Roman Catholic Dioces8 of Derry subject to any future
curtailment or addition of area made in accordance with the laws and regulalions of the Roman Catholic
Church. and
2) the advancement of any charitable purpose supported by th8 Roman Catholic Church throughoul the world
or in any part of th8 world.
1.1 Accounting conventlon
The financial statements have been prepared in accordance with the charity's conslilulion, the Charities Act
INorthern Ireland) 2008 and "Accounting and Reporting by Charities.. Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting St8ndard
applicable in the UK and Republic of Ireland {FRS 1021 (effective 1 January 20191" The charity is a Public
B8n8fit Entity as defined by FRS 102,
The financial statements are prepa￿d In sterllng. whSch is the functional currency of the charity. Monetary
amounts in these financial statements art rounded to the nearest £.
The financial slalements have been prepared under the historical cost conv9ntion, Imodified to Include the
revaluation of freehold propertles and to include investment properties and certain financial instruments 8t fair
value]. The principal accounting policies adopted are sel out below.
1.2 Going concern
Al Ihe time of approving the financial statements. the Corporate Trustee has a reasonab18 8xpectation that
the charity has adequate resources to continu8 in operational existence for the foreseeable future. Thus the
Corporate Trustee Gontinues lo adopt th8 going concern basis of 8ccounting in preparing the flnanclal
slatemenls.
1.3 Charltable funds
UnreslriGted funds are available for use at the discretion of the Corporate Trustee in furtheranGe of their
charitable objectives.
Reslricted funds are funds which are to be used in accordance wilh specific restrictions imposed by donors or
which have been raised by the charity for particular purposes. Thg costs of raising and administering such
funds are charged against the specific fund. The purposes and uses of the restricted funds are set oul in the
notes lo the financial slalements.
1.4 Income
Income is recognised when the charity 15 legally entitled to it after any performance Gonditions have been met,
the amounts can be measured reliably, and il is probable that income will be reccived.
Cash donations are recognised on receipt. Other donations are recognised On￿ Ihe Charity has been notified
of the donation, unless performance conditions require deferral of the amount_ Income lax recoverable in
relation lo donations received under Gift Aid or deeds of covenant is recognised at the lime of the donation.
Legacies are recognised on re￿[pl or otherwise if the charity has been notified of an impending distribution.
the amaLrnt is known, and receipt is expected. If the amount 15 not known, the legacy is treated as 2
contingent asset.
-20-

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accountlng pollcies
(Continued)
No amount is included in the financial ststements 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 ariy performance conditions have
been mel, it is probable that Ihe income will be received and the amount can be measured reliably.
Investment income is earned through holding assets for investment purposes such as shares and property. 11
includes dividends. interest and rent. Interest income, dividend and rent income recognised as Iha charity's
right to ieceive payment is established and is included when the amount can be measured reliably. Where it is
not practical lo identify investment management costs incurred within a scheme with roasonable ilGcuracy, the
inve%lrTieril income is reporled net of these costs.
1.5 Ro8ource5 Expended
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it
is probable Ih8t seltlement will be required and the amount of the obligation can be rneasured reliably.
Expenditure on ¢harltahle actlvltles includes the cosls servic8s undertak8n to further the purposes of Ihe
charity by Parishes and Curia,
Irrecoverable VAT is charg8d as a cost against the activity for which the expenditure was incurred.
Grants p8yable to third parties are within charitable objectives. Where unconditional grants are offered, this is
accrued as soon as th8 r8CIP18nl is notified of the grant, as this gives rise to a reasonable expectatlon that the
recipient will receive the grants. Where grants are conditional r81aling to perfom7ance. thÈn the grant is only
accrued when any unfulfilled conditions are outside of Ihe control of the charity.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreGiation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less Ihelr resldual values over their
useful Ilves on tho following bases..
Parish propety and contents
Curia land and buildings
10/0 straight line
20/0 straight line
Freehold land included wilhin Curia land and buildings is not depreciated.
1.7 Fixed as3et investments
Fixed asset investmenls are initially measured at transaction price excluding transaction costs, and are
subsequenity measured at fair value at each reporting date. Changes in fair value are recognised in net
incomeJ(expenditure) for the year. Transaction costs are expensed as incurred.
1.8 Impalrment of fixed assets
At each reporting end dale, the charity reviews the carrying amounls of its tangible assets to determine
whether Ihere is any indication that those assets have suffered an impairment loss. If any such indication
exists, thè recoverable amount of the asset is estimated in order to determine the extent of the impairmènt
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 overdrafts are shown
within borrowings In current li8bilities.
21

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accountlng pollclos
(Continued)
1.10 Financial instruments
The charity has elected lo apply Ihe provisions of Section 11 'Basic Financial Instrumenls, and Section 12
'Other Financial Instruments Issues, of FRS 102 10 all of its financial instruments.
Financial inslruments are recognised in the charitls balance sheet when the charity becomes party lo the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable righl to set off the recognised amounts and there is an intention lo settle on a
net basis or to realise the asset and settle the liability sirTiullaneously.
Baslc flnancial assets
Basic financial assets, which include debtors and cash and bank balanoes, are initially measured at
transaction price including transaction ¢osts and are subsequently carried al amortised cost using the
effecliv8 inleresl method unless the a￿angernent conslilules a financing transaction, where the Iransaclion is
measured al the presenl value of the fijlure r8ceipts discounted al 8 m8rket rale of interest. Financial assets
classified as receivable within one year are not amortised.
Bas1¢ linancial liabilities
Basic financial liabilities, Includlng creditors and bank loans are inStially r8cogni5ed at transaction price unless
the arrangement constitutes a financing transaction. where the debt instrument is measure¢J al the present
value of Ihe future payments discounted at 8 market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are 5ubsequenUy carried at amortised cost, using the effectlv6 interest rale method.
Trado creditors are obligations to pay for goods or services that have been awuired in the ordinary course of
operations from supplip.rs. Amounts paydble are Classified as current liabilitios if paymonl is du8 within one
year or 18ss. If nol, they are presented as non-current liabilities. Trade credilors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective inlerest method.
Derecognition of financial liabilltles
Financial liabililies are derecognised wh8n the charity's contractual obligations expire or are dlscharged 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 ara recognised when the charity has a legal or constructive present obligation as a result of a past
event, it is probable that the Char￿tY will be required to settle that obligation and a reliable estimate can bè
made of the amount of the obligation.
The amount recognised as a provision is the best cstimale of the consideration required to settle the prp.8pnt
obligalion al the reporting end date, takirig into account the risks and uncertainties surrounding the obligation.
Where the effect of the time value of money is material, Ihe amount expacted to be required to settle the
obligation is recognised at present value. When a provision is measured at present value, the unwinding of
the discount is recognised as a finance cost in nel incomellexpenditure) in the period in which il arises.
-22-

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policios
l¢ontinued)
1.13 Employee benefits
The cost of any unused holiday entitlernent is recognised in the per￿0d in which the employee's seNt￿$ are
received.
Termination benefits are recognised immediately as an expense when the charity is demonslrably committed
to tomiinate the employment of an employee or to provide termination benefils.
1.14 Foreign exchange
Foreign currency Iransaclions are initially reG￿nised by applying io the foreign currency amount the spot
exchange rale between the functional currency and the foreigri Gurrericy at the dale of tho transaction.
Monetary assels and liabilities denorninated in a foreign currency at the balance sheet date are Iranslated
using the closing rate.
Crltlcal accounting estimates and judg8monts
In the application of the charity's accounting policies, the Corporate Trustee is requir8d lo make judgements,
estimates and assumptions about lh8 caTrying amount of assets and liabiliti&s that are not reddily apparent
from other sources. The estimates and associal8d assumptions are based on historical experience and other
fa¢lors that are ¢onsidered to be relevant. Aclual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basls. Revisions to accounting
estimates are recognised in the period in which the estimate is revised wliere the revision affects only that
period, or in the period of the revision and future periods where the revision affects both currenl and future
p8riod8.
Crltlcal judgements
Pfoparty
Curial land and buildings and Church property and contents are staled at cost, where the cost can be
identified. Prior lo 1996, Ihe accounting policy applied was for capilal expenditure to be wrilten off in full as
incurred. A5 a result of that policy, the original costs and accumulated d8preciation of most curial land and
buildings and Church property and contents held then was not av8ilable. The Corporate Trustee's view was
ihat a reasonable approximation of the net book value of the curial property held al 81 Decernber 2016 would
be established Ihrough discounting the insurance values of thcse a55els at that dale by 90010.
Key sources of èstimatlon uncertainty
Provisions for liabilities and charges - legal claims
The charity has provided for the expected financial outcorne of claims and the associated legal costs that
have been notified to the Corporate Trustee. The Corporate Truslee has taken advice from the solicitors
engaged in the claims to arrive at the amount provided. The details of the amounts provided are included in
note 20.
23-

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Donations and legacies
Unrestricted Restricted
funds
fund5
Total Unrestricted RÈstricted
funds
funds
Total
2023
2023
2023
2022
2022
2022
Parishes - offertories,
donations and legaci8S
Curla - donations,
legacies and gifts
Levy income
Parishes fundraising
8,912,061
8,912,061
7,987,032 7,987,032
108.787
606,075
1.338.057
269,285
498,044
1,446,844
875,360
498,044
55.462
581,605
953,485
258,492
389.485
1,008.947
389,485
714,862 11,017,447 11,732,309
637,067
9,588.494 10,225,561
Charitsbl& actlvities
Parish•s
Curla
Total
2023
Par15ho8
2022
2023
2023
Gr8nls received
294,758
294,758
193,600
Grants received
R8venu8 Commissioners TWSSIEWSS
Church refurbishment grants
Other
5,928
115,579
72,093
238,709
56,049
238.709
56,049
294,758
294,758
193,600
Income from investments
Unrestricted Restricted
funds
lunds
2023
2023
Total UnrestrlGtgd Re5tricled
funds
funds
2022
2022
Total
2023
2022
Rental income
Income from Parochial
investments
Interest receivable
22,620
227,616
250,236
28,740
190.826
217,566
6.772
174,794
6.772
213,014
5,315
28,662
5,315
30,018
38,22D
1,356
60,840
409,182
470,022
28,096
224,803
252,899
-24-

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Other Income
Unrestricted Restricted
funds
funds
Total Unrestricted
fund5
Restricted
funds
Total
2023
2023
2023
2022
2022
2022
Nel gain on disposal of
tangible fixed assets -
Parishes
Nel gain on disposal of
langible fixed assets -
Curial
Olher income
Income from solar panels
and NIE
Income from insurers
Income from candles 8nd
printed material
450,814
450,814
338,310
338,310
2,203
2.203
4,711
491.011
491,011
18,299
4,711
18,299
4,273
60,649
4,273
60,649
3,514
101,881
3,514
101,881
345.665
345,665
306,439
306,439
2,203
866,112
868,315
491,011
788,443
1,259,454
-25-

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Charitable actlvities
Parishes
Curial
Total
2023
Parishes
Curial
Tolal
2022
2023
2023
2022
2022
Gross salarios and
8mployers national
insurance costs
Depreciation and
impairmont
Consumables and
administration costs
Clergy stipends
Pastoral costs
Donations
Premises costs including
insurance
RepaiTS and malntenance
Diocesan levy
Pilgrimages and retreats,
conferences and events
Bank charges and Inlerest
Accountancy fees
Professional and
consultancy fees
isGellanaous and sundry
8xpen585
Legal clalms and
8SSOCl8led costs
Retired priests stipends
and expenses
Cleric81 students, fees and
ongoing formation
Safeguarding costs
Pastoral Centre aGtivitl8S
CateGhelical Centre
aclivilies
Regional Marriage Tribunal
Irish Hierarchy
1,856,576
547,031 2,403,607 1,822,438
445.923 2,268,361
345,073
28.633
373,706
339,320
28,747
368,067
777,783
828.642
445,020
56,009
32,740
810.523
828,642
562.967
720,449
719,555
773,273
192,220
92.547
33.194
752,749
773,273
293,135
931,539
117,947
664,440
100,915
838,992
1.541,773
2,855,170
875,360
70.340 1,812,113 1,614.348
4,679 2,859,849 2,747,701
875,360
840,097
44,103
1,658,451
322 2,748,023
840.097
65,980
74,425
35,061
65,980
75,595
45,501
84,757
33,985
1,200
13,440
85,9S7
47,425
1,170
10,440
54,538
19,506
74.044
96,745
17,487
114,232
39,320
21,167
60,487
36,645
4,931
41,576
220,000
220,000
361,070
381.070
191,323
191,323
163,294
163,294
73,590
75,127
110,282
73,590
75,127
110,282
76,474
45,401
76.474
45,401
95,859
237,956
30,000
111,649
237,956
30.000
111,649
179,705
29,916
125,679
179.705
29,916
125.679
9,794,006 2,571,050 12,365,056 9,450.355 2,603,622 12.053,977
Analysls by fund
Unrestricted funds
Restrtcled funds
979,306
979,306
959,392
959,392
9,794,006 1,591,744 11,385,750 9.450,355 1,644,230 11.094,585
9,794.006 2.571.D5D 12,365,056 9.450,355 2,603,622 12,053,977
26-

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Net movement in funds
2023
2022
The net movement in funds is stated after chargingllGreditingl-.
Depreciation of owned tangible fixed assels
Profil on disposal of tangible fixed assets
373,706
{450,814)
368,067
{338,3101
Corporate Trustee
The Corporate Trustee Inor any persons connected wilh them) did nol receiv8 any remuneration or benefits
from the charity during the year in respect of the role of Trustee.
10 Employees
The average monthly number of employee3 during the year was:
2023
Number
2022
Number
Curial employees
Parish employees
15
189
184
Total
204
197
Employment costs
2023
2022
Wages and salartes
2,403,607
2,268.361
There were no employees whos8 annual remuneration was £60,000 or more.
11 Net gainsl{losses) on investments
as restated as restat8d
Total Unrestricled Restricted
Total
funds
funds
Unrestrictod Restrlct8d
funds
funds
2023
2023
2023
2022
2022
2022
Revalualion of
investments
219,930
1,360,835
1,580,765
1301,809) {1,696,0351 11,997,844)
12 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitsble purp05es.
27-

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
13 Other galns or losses
Unrestricted Restricted
funds
funds
Total Unrestricted
funds
Restricled
funds
Total
2023
2023
2023
2022
2022
2022
Foreign exchange gains
13.5821
975
(2,607)
11,533
(19.4661
{7,933)
14 Tangible fixed assets
P8rl$h cur￿ land and
property and
bulldlngs
¢ont•t)ts
Tot81
Cost
At 1 January 2023
Additions
Disposals
33,918,594 1,437,344
605,747
(17,076)
35,355,938
605,747
(22,747)
(5.671)
At 31 December 2023
34,507,265 1,431.673
35.938,938
Depreciation and impairment
At 1 January 2023
Depreciation charged In the year
Eliminated in respect of disposals
2.952,475
345,073
(1,020)
245,423
28,633
3,197.898
373,706
11.020)
Al 31 December 2023
3,296,528
274.056
3,570,584
Carrying amount
At 31 December 2023
31,210,737 1,157,617
32.368,354
At 31 December 2022
30,966,119 1,191.921
32,158,040
-28-

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
15 Flxad asset investments
Parishes
Curial
investments Inv•stments
Total
Cost or valuatlon
Al 1 January 2023
Valuation changes
Service fees
Disposals
S,135,910
338.640
13,092,334
1,242.124
17.804)
18,228,244
1,580.764
17,8041
{43,8591
(43.8S9)
At 310ecember 2023
5,430,691
14,326,654
19,757,345
Carrying amount
At 31 December 2023
5,430,691
14,326,654
19,757,345
At 31 December 2022
5,135.910
13.092,334
18.228,244
16 Debtors
2023
2022
Amounts falling due within one year:
Other debtors
3,951,208
3,871,586
17 Loans and overdrafts
2023
2022
Bank overdrafts
Bank loans
Olher loans
51,956
268,991
249.781
60,847
447,431
365,546
570,728
873,824
Payable within one year
Payable after one year
358,557
212,171
483,213
390,611
Amounts included above which fall due after five years..
Payable by instalments
163,331
-29-

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
18 Creditors: amounts falling due withln one year
2023
2022
Notes
Bank loans and overdrafts
Other borrowings
Accruals and deferred income
17
108,776
249,781
437,680
117,667
365,546
175,459
796,237
658,672
19 Croditors: amounts falling due after more than one year
2023
2022
Notes
Bank loans
17
212,171
390,611
20 Provision8 for liabilities
2023
2022
Legal claims and associated costs
675.000
725,000
Movements on provisions..
Legal claims
and
associated
¢osts
Al 1 J8nu8ry 2023
Additional provisions in the year
Utlllsation of provision
725,000
220,000
1270.000
At 31 December 2023
675.000
The charily has made a provision in the financial statements of £675,000 (2022. £725,000) in relalion lo
ongoing legal daims and associated costs. The charity has quantified the likely financial outcome based on
legal advice received. There is scope for amounts ultimately payable in respect of legal claims to be mitigated
by insurance cover.
-30-

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DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
22 Unrèstrlcted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are
not subiecl to specific cL)ndition.8 by donors and grantors as to how they may be used. These include
designated funds which have been set aside out of unreslricted funds by the trustees for specific purposes.
At 1 January
2023
Incoming
resources
Resources
expended
Transfers
Gains and
losses
At31
Dècember
2023
General funds
5,149,326
777,905
(979,306)
{238,347)
216,348
4.925,926
Previous year: At 1 January
2022
Incoming
resources
Resources
expended
Transfers
Gains and
losses
At31
December
2022
General funds
5,452,379
1,156,174
(959.392)
(209,5591
1290,276)
5,149,326
23 Analysi5 of net assets belween fund5
Unrestrlcted Restrlcted
funds
funds
2023
2023
Total Unreslrlcted
funds
2D22
Restricted
funds
2022
Total
2023
2022
Fund balances at 31
December 2023 are
represented by..
Tangible assets
Investments
Curr8nt ass8tsl{li8bililies1
Long tem liabilities
Provisions
636,008 31,732,346 32,368,364
655,848 31,502,192 32,158,040
2,793,673 16,963,672 19,757,345 2,573.743 15,654,501 18.228,244
2,171,245 25,332,703 27,503,948
2,644,735 24.248,562 26,893.297
(212,171) (212,171)
1390,611 } (390,6111
(675,000) 1725,000)
1725,0001
(675,000)
4,925,926 73,816,550 78,742,476
5,149,326 71,014,644 76,163,970
Transfers between funds
There have been transfers betwèen funds during the year totalling £238,347 {2022.' £209,559) Irom
unrestricted rese￿eS to restricted reserves, which represents centi81 Curia funding lowards Parishes and
Pastoial and Catechetical Centre activities.
25 Related party transactions
There were no disclosable related party transactions during the year (2022- none).
34-

DERRY DIOCESAN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
26 Amounts held as agent
There are various collections laken up during the year within the Diocese that are collections undertaken as
agent on behalf of other Drganisalions. These funds are lodged to thp bank and then paid to the individual
organisations_ The asset and liability are not recognised within these financial st8lemenls.
The amount of funds held by the charity at the year end as an agent was £46,959 (2022.. £46,070}.
27 Analysls of changes In net funds
At 1 January
2023
Cash Ilows At 31 D•cemb8r
2023
Cash at bank and in hand
Bank overdrafts
23,680,383
{60,847)
668,594
8,891
24,348.977
{51.956)
23,619,536
677,485
24,297,021
Loans falling due within one year
Loans falling due after more than one year
(422,366)
1390,611)
115,765
178.440
{306,6011
{212,171}
22,806,559
971,690
23,778.249
28 Cash generated from operatlons
2023
2022
Surpluslldeficit) for the year
2,581,113
(2,120,307)
Adjuslmenls for..
Inveslmenl incom8 recognised in statement of financlal aclivitl8S
Foreign exchange differences
Gain on disposal of tangible fixed assets
Fair valup. gains and losses on investments
Dcprecialion and impairment of langiblp. fixed assets
(470,022)
1252,8991
(2,6071
17,9331
{941.8251 11.251,310)
11,580,765)
1,997,844
373,706
368,067
Movements in working capital=
Ilncroaselldecrease in debtors
Increase in creditor5
Increase in provisions
(79,622)
262,221
(50,000)
113,590
60,165
361,070
Cash generated froml{ab30rt)ed by) operations
92,199
1731.7131
-35-