The De
Diocesan Trust Fund for Sick Priests
ort of the Trustees
for the Year Ended 31 December 2022
The trustees, who are also dircctors of the company for the purposes of company law, prcsent their
report with the audited financial statements of the company for the year ended 31 December 2022.
The financial statements have been prepared in accordance with the Statement of Recommended
Practice "Accounting and Reporting by Charities" and with the provisions of Section IA "Small
Entities of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the
UK and Republic of Ireland and the Companies Act 2006.
Structure, Governance and Management
Governing Document
The company was incorporated on 3 July 2001, to provide members, who are sick through physical
illness or mental illness, with health care and medical treatment paid for by the I'rust Fund charity
with the aim of assisting a return to full health and a return lo active ministry as priests as quickly as
possible.
The Derry Diocesan Trust Fund for Sick Priests is a Limited Company and registered as a charity in
Northern Ireland on 3 November 2017. It is governed by its Memorandum and Articles of
Association. In the event of the company being wound up, liability is limited to an amount not
exceeding £1 00 per member.
Appointment of Trustees
All trustees are elected or appointed to the Management Committee under the Memorandum and
Articles of Association. The number of trustees is not subject to any maximum but will not nornially
be less than seventeen. The trustees also act as company directors.
The trustees shown below have held office during the whole of the period from l January 2022 to the
date of this report, unless othenvise stated.
Most Rev Daniel McKeown DD
Right Rev Monsignor Bryan Mccanny
Rev Paul Mccafferty
Rev Michael Canny
Right Rev Monsignor Andrew T)olan
Rev John CargTan (deceased 14.04.2022)
Rev Eugene Boland
Rev Peter Devlin
Very Rev Francis Bradley
Rev Patrick Baker
Rev Michael Mccaughey
Rev John Gilmore
Rev Gerard Sweeney
Rev Patiick Doherty
Rev Con McLaughlin
Rev David O'Kane

The De
Diocesan Trust Fund for Slck Priests
ort of the Trustees
foi the Year Ended 31 December 2022
The company is a company limited by guarantee and not having a share capital and accordingly no
director has any interests in shares in the company.
Induction and training
A programme of ongoing training is provided to trustee directors to ensure continued relevant
knowledge and competence. Training is delivered by suitably qualified individuals in relevant areas.
Management of the Charity
The directors of the Trust Fund charity meet regularly and at least several times every year. The
frequency of meetings varies to reflect the nature and volume of business to be considered.
The directors provide strategic direction and monitor the activities of the charity and delegate the day-
to-day operational management to a number of officers.
Related Parties
None of thc members Teceive remuneiation or other benefit from their work with the charity. Any
connection between a member or senior managTcr of the charity with a contracted supplier must be
disclosed to the full Management Committee in the same way as any other contractual relationship
with a related party. In the cu￿ent year no such related party transactions were reported.
Objectives and Activities
In furtherance of our aims, our current strategy is to provide the following services and activities:
To provide members, who are sick through physical illness or mental illness, with health care and
medical treatment paid for by the Trust Fund charity with the aim of assisting a return to full
health and Li return to active ministry as priests as quickly as possible.
Membership of the Trust liund chaTity is available to all ordained priests of the Roman Catholic
Diocese of I)erry.
Success in meeting objcctives is measured by the Trust Fund charity's ability to meet the costs
of eligible claims in the period and the maintenance of sufficient reserves for possible future
claims.
Achievements and Performance
Over the last eleven months twelve members, who were in need of assistance through illness, were
provided with health care and medical treatment paid for by the Trust Fund charity and thus assisting
a return to full health and a return to active ministry as priests as quickly as possible. In addition, the
Trust Fund charity maintained its policy of carrying medical insurance cover for the benefit of
members in the Republic of Ireland.
Covid-19 did not have any significant impact on the charity's ability to achieve its objective5 and the
Trustees remain satisfied that the financial statements should be prepared on a going concern basis.

The De
Diocesan Trust Fund for Sick Priests
ort of the Trustees
for the Year Ended 31 December 2022
Public Benefit
The primar! public benefit that is achieved through the Trust Fund's purposes and activities is the
relief of the necds of individuals that arise from ill health. The benefits are provided to a section of
the public, being ordained members of the clergy of t]ie Diocese of Derry who are members of the
T￿st Fund. In addition, the purposes and activitie5 of the Trust Fund provide further wider public
benefits in that they assist and accelerate the return to full active ministy of clergy of the Diocese
of Derry who have been in ill health and in this way, they assist the Diocese of Derry (which is a
registered charity under the title Derry Diocesan Trust) to deliver public benefits through the
advancement of religion and related activities. The benefits identified above can be demonstrated and
measured through the circumstances of individual priests who have been in ill health and who have
received prompt and effective medical intervention and care (provided by the Trust Fund) to facilitate
a return to full health in as short a timescale as possible.
Financial Review
The stateinent of financial activities for the year is Presented on page eleven of these financial
statements. During the year incoming resources included £44,821 for Health Contributions received
on behalf of members and £24,137 contributions from the Derry Diocesan Society.
There was a decrease in the investment fund valuation during the year, due to general market
conditions, leading to a reduction in reserves from the previous fjnancial year.
No signifLcant events have occurred since the date of the Balance Sheet which affect the organisation
or which materially affect these financial statements.
Investment Objectives
'rhe primary investment objective of the Trust Fund is to ensure that adequate financial reserves are
maintained to ensure the continued operation of the Trust Fund into the medium- and long-tern]
future. The Trust Fund seeks to produce the best fLnancial return within an acceptable level of risk,
maintaining a balance between long terni capital growth and incorne growth. A moderate to dynamic
level of risk can be taken in order to meet investment objectives.
Reserves Policy
The trustees acknowledge the need for reserve funds to ensure the financial stability and ongoing
operational capacity of the charity. The trustees recogni5e that increased costs could arise in the event
of a high number of claims from eligible members in the future. In light of this, the Trust Fund holds
significant reserves to cover tlie following costs and financial commitments:
the costs of providing members who seek support because ofillness with health care and medical
treatment paid for by the Tiust Fund charity with the aim of assisting a return to full health and a
return to active ministy as priests as quickly as possible.
yearly healthcare insurance costs
running costs of the charity for at least twelve months
to enable all creditors to be paid in full in the event of the cessation of the company
Risks and Ullcertaintles
The trustees identify the folloThing risks and uncertainties facing the charity
Increasing costs of healthcare services for eligible mcmbers and insurance costs
Possiblc incTcase in numbers of future claims for assistance
Uncertainty in global investment markets
Maintenance of good governance including measures to prevent potential fraud

The Der
Diocesan Trust Fund for Sick Priests
ort of the Trustee5
for the Year Ended 31 December 2022
The Trustees have assessed the major risks to which the charity is exposed, in particular those related
to the operations and finances of the Charity, and are satisfied that systems are in place to mitigate
the exposure to major risks.
Plans for the future
One of tlie Trust Fund's key objectives is to maintain good governance and quality assurance.
The Trust Fund's strategic plan for the coming years is as follows:
Keeping the investment fund under review to ensure the future needs of the cliarity are met
Continued monitoring of daily management of the charity
Continued monitoring of governance of the charity

TheDe
Diocesan Trust Fund for Sick Priests
ort of the Trustees
for the Year Ended 31 December 2022
Statement of Trustees, Responsibilities
The trustees are responsible for preparing the Report of the Trustees and the financial statements in
accordance with applicabIe law and regulations.
Company law requires the trustees to prepare financial statements for each financial yeaT. Under that
law the trustees have elected to prepare the financial statements in accordance with United Kingdom
Generallv Accepted Accounting Practice (United Kingdom Accowiting Standards and applicable
law). Under company law the trustees must not approve the financial statements unless the), are
satisfied that they give a true and fair view of the state of affaiTS of the charity and of the surylus or
deficit of the charity for the period. In preparing these financial statements, the trustees are required
to:
select suitablc accounting policies and then apply them consistently.
Obscrve the methods and principles in the Charity SORP;
make judgements and accounting estimates that are reasonable and prudent;
Prepare the financial statements in the going concem basis unless it Is Ènappropriate to
presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and
explain the charity's transactions and disclose with reasonable accuracy at any time the financial
position of the charlty and enable them to ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence
for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statement as to Disclosure of Information to Auditors
So far as the trustees are aware, there is no relevant audit infonnation (as defined by Section 418 of
the CoMp¢￿ics Act 2006) of M'hich the company's auditors are unaware, and cach trustee has taken
all the steps that he ought to have taken as a trustee in order to make himself aware of any relevant
audit infonnation and to establish that the company's auditors are aware of that inforn]ation.
Auditors
The auditors, Shaun McAteer & Co. Ltd, will be proposed for re-appointment at the forthcoming
Annual General Meeting.
Srnall Company Provisions
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act
2006 relating to small companies.
ON BEHALF OF THE BOARD:
Most Rev
ri
iel McKeown DD - Director
26 April 2023