The Der
Diocesan Trust Fund for Sick Priests
Re
ort of the Trustees
for the Year Ended 31 December 2023
The trustees, who are also directors of the company for the purposes of company law, present their
report with the audited financial statements of the company for the year ended 31 December 2023.
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 FinanLial Reporting Standard 102 The Financial Reporting Standard applicable in the
UK and Republic of Ireland" and the Compallies 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 Trust Fund charity
with the aim of assisting a return to full health and a return to active ministry as priests as quickly as
possible.
The Deny 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 £100 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 normally
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 2023 to the
date of this report, unless otherwise stated.
Most Rev Daniel McKeown DD
Right Rev Monsignor Bryan Mccanny
Rev Paul Mccafferty
Rev Michael Canny
Right Rev Monsignor Andrew Dolan (resigned 26.06.2023)
Rev Fugene Boland
Rev Peter Devlin
Very Rev Francis Bradley
Rev Patrick Baker
Rev MichaeI Mccaughey (resigned 26.06.2023)
R¢v John Gilmore (resigned 26.06.2023)
Rev Gerard Sweeney
Rev Patrick Doherty
Rev Con McLaughlin
Rev David O'Kane
Rev Eamon Graham (appointed 1.06.2023)

The Der
Diocesan Trust Fund for Sick Priests
ort of the Tru.stees
for the Year Ended 31 December 2023
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 relevanl
knowledge and competence. l-raining is delivered by suitably qualified individuals in relevant areas.
Management of the Charity
The directors of Ihe 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 delcgale the day-
to-day operational management to a number of officers.
Related Parties
None of the members receive remuneration or other benefit from their work with the charity. Any
connection between a mernber or senior manager 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 curreiit 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
niedical treatment paid for by the Trust Fund charity with the aim of assisting a return to full
health and a return to active ministy as priests as quickly as possible.
Membership of the Trust Fund charity is available to all ordained priests of the Roman Catholic
Dioccse of Derry.
Success in meeting objectives is measured by the Trust Fund charity's ability to meet the costs
of eligyible claims in the period and tlic Inaintenk￿ce of sufficient reserves for possible future
claims.
Achievcments and Performance
Over thc last thirteen months twelve members, who were in need of assistance through illness, were
provided with health care and mcdical treatment paid for by the Trust Fund charity and thus a8SiSting
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 objectives and the
Trustees remain satisfied that the financial statements should be prepared on a going concern basis.

The Der
Diocesan Trust Fund for Sick Priests
ort of the Trustees
for the Year Ended 31 December 2023
Public Benefit
The primary public benefit that is achieved through the Trust Fund's purposes and activities is the
relief of the needs of individuals that arise from ill health. The benefits are provided to a section of
the public, being ordained members of the clergy of the Diocese of Derry who are members of the
Trust Fund. In addition, the purposes and activities of the Trust Fund provide further wider public
benefits in that they assist and accelerate the return to full active ministry of clergy of the Diocese
of Dcrry who have bcen in ill health and in this way, Ihey assist the Diocese of Derry (which is a
registered Ch￿ltY under the title Derry Diocesan Trust) to deliver public benefits through the
advancement of religion and rclated activities. The benefits identifLed above can be demonstrated and
me&sured through the circumstances of individual priests who have been in ill health and who have
received prompt and effective mcdical 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 statement of financial activities for the year is presented on page eleven of these financial
statements. Duriiig the year incoming resources included £45,584 for Health Contributions received
on behalf of members and £32,217 contributions from the Derry Diocesan Society.
l-here was an increase in the investment fund valuation during the year, due to general market
conditions, leading to an increase in rcservcs from the previous financial year.
No significant events have occurred since the date of the Balance Sheet which affect the org7anisation
or which materially affect these financial statements.
Investment Objectives
I'he primary inve8tmenl 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-terni
fulure. The Trust fund seeks to produce thL best financial return within an acLeptable level of risk,
maintaining a balance bctween long term Capital growth and income growth. A moderate to dynamic
level of risk can be taken in order to meet investment objectives.
Reserves Policy
The trustecs acknowledge tlie need for reserve funds to ensure the financial stability and ongoing
operalional capacity of tlie charity. The trustees recognise that increased costs could arise in the event
of a high number of clairns from eligible members in the future. In light of this, the Trust Fund holds
significant reserves to cover the following costs and financial commitments:
the costs ol"providing members who seck support because of illness with hcalth care and medical
treatmcnt paid for by the Trust Fund charity with the aim of assisting a return to full health and a
return to active minislry 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 Uncertainties
The trustees identify the following risks and uncertainties facing the charity
Increasing costs of healthcare services for eligible members and insurance costs
Possible increase 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 Trustees
for the Year Ended 31 December 2023
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 the 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 charity are met
Continued monitoring of daily management of the charity
Continued monitoring of governance of the charity

The Der
Diocesan Trust Fund for Sick Priests
ort of the Trustees
for the Year F.nded 31 December 2023
Statement of Trustees, Rey3ponsibilities
The trustees are responsible for preparing the Report of the Trustees and the financial statements in
accordance with applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under that
law the trustees have elccted io prepare the tinancial statements in accordance with United Kingdom
Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable
law). Under company law the trustees must not approve the financial statements unless they are
satisfied that they give a true and fair view of the state of affairs of the cliarity and of the surplus or
deficit of the charity for the period. In preparing these financial statements, the trustees are required
to..
select suitable accounting policies and then apply them consistently.
Observe the methods and principles in the Charity SORP.
makc judgemLnts and accounting estimates that are reasonable and prudent.
Prcpare the tinancial statements in the goingT concern ba.sis unless it is inappropriate to
presume that the Lharitablc company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and
explain thc charity's transactions and disclose with rcas()nable accuracy al any time thc tinanLial
posilioii of the charity and enable them to ensure that the finanLial statcments comply with the
Coinpanics Act 2006. Thcy are also responsible for safeguardin&y the assets of the charily and hL'nLe
for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statemcnt as to Disclosure of Information to Auditors
So far as thc iruslees are aware, there is n() relevant audit information (as defined by Section 418 of
the Companies Act 2006) of which the company's auditors arc unaware, and each trustee has taken
all the steps that he ou&yht to have taken as a trustee in order to make himself aware of any relevant
audit intormation and to establish that the company's auditors are aware ot. that information.
Small Company Provisions
"rhis report ha8 been prepared in accordance with the provisions of Part 15 of" the Companies Act
2006 relating to small companies.
ON BEHALF OF THE BOARD:
Rev Paul Mccaffety - Director
23 May 2024