z z o ) i 4 X ¢ IN)
Docusign EnveloFe ID.. C400E333-DFOE4774-BgBF_E02A7FF3D4C3 St Patrick's Archdiocesan Trust Limited Cashtlow Statetnent 31 March 2023 202.1 )022 Cash from operating #ctii'itie5 Lath flow from Operations 2n 2.736.872 1.474.380 Finaiice costs 79.703} {68,594) NTel cash eneraied fn)rn o eraiino actii"ITtes 2,657,169 140i,786 Cash flows from investing activiiies PurLhase of prort., plant And cquipm¥ml 11:4$1,010) 1147.540) Proceed5 froni disposal of propertv. planl ld equipn)aii 589,809 ?93,188 Sale of inyesinienls 4.042.524 4,607.909 Purchase of illV¢SVD¢nls (3,909.135) {4,922.5821 Ini'csimcni porifolio liquid assei moN'cnieT]i 1251,4271 246.911 Ftnancc income 76,037 5,318 N¢1 cash l aid)Ireccii'cd iii in¥'cslin actlkilies 893302) 'et incre25e Rn cash and cash t ui*'alent5 1763.967 1.488.990 Cash. cash e uiNalents and bank vverdrdfls ai be¥innin ofthe car 17JOO.433 15,811.443 Cash, cash e ivalent5 and bank oi'erdraft5 at end of ihe 'eaT 19.064,400 17,300.433 32
Docusign Envelope ID.. C4O0E3DFOE4774-g9F-EO2A7FF3D4C3 St Patrick's Archdiocesan Trust Limited Notes to the financial statements for the .vear ended 31 March 2023 Aecovnting policies General information and h25is of preparation Si. Patrick's Archdiocesan Trust Limited (Ihc "'charity"l is a company limited by guardntee and incorporated in Northern Ireland. The Rcgislercd Office Is 4ii.cn in the charity inforrnation on page 3. The Council of thc Tru81 Ininibers of thc chariti. are the directors namcd on paue 3. The nawre of the charity's opcrdtions and principal aclii'ilies are.. The advancemeni of the Roman Caihnlic reliOn in the Ri)man Caihulic Archdiocese ofAmiagh svbjecl to any fiiturc curtailment or addition of area iiiadc in accordauce '11h Ilie laws and reoulalions ofihe Roman Catholic Church. The advancement of any charitable purpo%e supported by the Roman Catholie Church Ihroughout Ihe -orld or in any pari of thc ii-.orld. The charity constitutes a public benefit cntity a5 defined bv FRS 102. Going concern The financial Siatemenis are prepared on a aoing conLern basis under the l)istorical cost convention. IodIfIcd lo include ccrtain iiems at fair i'aluc. Tlie financiJl statciiients hai"e been prepared on a going concern basis a5 th¢ charity belie¥es that no niaterial uncertainlies exist. The charity hus considered ihe level of funds held and the expected lei'el of incume and expeiidilure for 12 Inoni115 from authorisinu these financial staieinents. The budueted iiicoi)ie and cxpenditure is sufficienl with the lei'el of reserves for ilie charity 10 be able lo coiiiinue as a goino concern. Base currency The financial stalements ar¢ prepared in sterlina which is the functional currency of ihe charily. Statement of cornpliance The finanLial staten?ents hai'e been picpared in accotd3nce witli the proiFisions of the Stalenient of Reiommended Practice "AcLountin? and Reporting by Charities, issued in O¢tober 2019 ISORP 20191, tl)e Charitics (Accounts and Reports) Regulations IN'II 2015. (he Charities Acts (NI 2008 and 20??), the Companies Act 2006 and applicable Accounting Siandards in ihe UK. Sumniary of significant accouDting policie5 The siuttificant a¢couiiting policies applied In ihe preparntion of these financial slaiements are Set out below. These policies have been conslstently applied to all years prcscnled unless otheThvÈse stated. Judgemenls and key sourees olesfimation uncertainty The preparation of the financial 5tatCWTbenLS rcquires the charity to make judg7)entS. estimates aiid assiiniptioiis that affect thc amounts reported. These eslimaies and judgemeiits are coiitinually reviewed and are based on expcricnce and other faclors. including expeciations of fuiure even15 Ihal arc bt.lici'ed to bc rcasonable under the circumsianccs. Significant judgement5 The jiidgments {apart from those involving e5timalions) Ihai Inai)30enient ha5 made in il)c process of appl)'ing Ihc entity's accouniing policies and that hai'e ihe mosi sionificanl effecl on the aniounts rcColqed in tl)e finllllcial siatemenES ale lls folloiYs-
Dwusign Envelope ID.. C400E333-DFOE4774-B9BF_E02A7FF3D4C3 St Patrick's ArchdRocesan Trust Limited Notes to the financial statements for the year ended 31 qarch 2023 Tangible a35els The net book value of property held at l April ?018 was established IlwouoJ] discounting the insurance valuation of these assets by 900/._ land is divide(l inlo differenl categories and has been ijalued by the chanly using a i'alue per acre, with the excepiion of inicstment land, io Arrive at deeined cost. Key source5 of estimation uncertainty Accouiiling estimates and assiimplions are made concernino the fuiiire and: by their nature. will rarely equal the related actual oulconie. The key assutnplions and other sources of estimation uncertaiiity that have a 5ignificanl risk of causiiig a Inaterial adjusiiiiei)I lo Ihc carryinu aii)ouiit5 of assets and liabilities within the next financial vear are as folloiv%- l/aliiulioii of inirsinieiiiproperlies The charity carrics the ini'estmcnt properties at fair i'alue wilh changes in fair value being recognised in the Sialcnicni of Financial Actil11CS ISoFA}. The charity has used ii)ternal expert15e available io determine ihe fair i'alue: based on markei i'alue of Ihe investmenl properties. Further infomiation is availablc ai nolc 12. Proi.'i.flOll.f for liabililies apTd charge5- legal clai1115 The charity has proi'ided for The b-alue of claiins and the a.ssociated legal cosis thai have becn notified to Ihcm. Thc charit} has taken advice from the solicitors cngagcd in the claim.s to arrive al tlic amount provided. The details of the amounl provided is included in note 16. Funds Unre%trÉcied fuiids are available for use ai ihe discreiton of ihe charity in funliernnce of ilie general objcciivcs of Ihe charity and Thhich hai'e not been designated for other purposes. Restricted funds are fund5 which are to be used in accordatice wilh specific re5triclions imposed by donors or wliich hai'e been raised by ihc charily for particular purposes. The cost of raising and adi)iinisiering such funds are eharged against Ihc 5pccific fund. Any Lapital ins or losses arisine on ilie iniyestmenls forni pait of ihe fund. Investment Inanagenieiit charges and Icgal adN"ice rela11n lo ihc fund arc chaiged against the fijnd. Income retognition All incoming resources are included in the SOFA whei) (he charily is Icgally enlitled to the income after any perfonT]ance Londitions have been met. the amounl can be measured reliably, and il 1.% probable that Ilic iiicome will be reccived. OITertories aiid collections are included in iiicoiiie ivhen receiiTed. FOT donations to be I'ecognised ihe charity ivill Iiai'e been nolified of tlie amounls and the settlemeni da(e in irItIng. If tlicrc arc coiidilions 21141ched lo the doi)ation and this requires a level of perfoniiance before entiilcincnl can be obiained, then iiicome is deferred unlil Ih05e conditions are fully niel or the fulfiln]ent of those conditions is within ihe control of the chaiily. and Il is probable that they will be fullllled. No aniounl is included in the filncIal stalcmcnts For volunlccr limc in line with the SORP {FRS 1021. Further detail 15 given in ihe TrStee'S Annual Report. Fixcd asset gifts in kind arc recogniscd whcn rcccii.-ablc and are included al fair value. They are not deferred over the life of (he asset. For Icuacies. eniiilement is tIIc Lttrlicr of tlic Lharity being Iiotificd of an impcnding dislributioi) or the IcgaLy being received. Al this point incorne is recognised. On occasion legacies ivill be notificd io Ili¢ cliarity. howci'er il is not possible to measure the aniouni expectcd io be disiribuled. On Ilicse occasions. (he legacv is trealed as a conliJJgcni asset and disclosed.
Docusign EDveiopp ID.. C400E33&DFOE4n4-B9BF_E02A7FF304C3 St Patrick's Archdlocesan Trust Limited Notes to the financial statements for the year ended 31 March 2023 Income recognition (eontinued) Income from fundraising events and other activities is recognised H'hcn cnliilemeni has Occu¢d. Income is reccived En exchange for suppl)'ing goods and services in order lo raise fund5 and is rccognised when entitlement11is ocCUed. The charity. receives erdnts in respect of the upkeep of properties. Iiicome froni oovernrnent and otl)er grants are recognised at fair iialue when ihe eharti). htts entitlent after any perfor]n2nce conditions have beeli met. il is probablc Ihai ihe iiiconie will be received, and tl)e arnount cali be Ineasured reliably. If entitlement is not rnei. then these amounts are deferred. The charity reccived grnnts as a result ol Coi'id 19 from the uoverninents in UK Jnd Republic of Ireland durtng Ihe previou5 year lo assist IlIh pavnient of salaries in tlie forn] of Coronavirus Job Retention Scheme ICJRS) and Eniployiment Wage sub.sidy Sclieme {EV¥SS). All ihese grants and subsidies arc recogni_qcd M,hen reccii'able. Investn)enl income is earned thFough holding asset5 for investmeni purposes such as shares and property. It includes diiidcndg. iniercst <ind renl. Where li is noi PTaciicable to identify ini'estmeiit Inaiiagcmenl eosts incurrcd ii.'iihin a schciiie with reasonable accuracy ihc inveslmcni incoine is reported net of these eosls. li is Included ii.hen the amount can be measured reliably. Tnieresi inconie is recognised u.sinu the effcctive iniere%i method and dii'idend and reni income is recognised as the charity"s riohi lo rcccii'c payinei)l 1£ established. Eipendilure recognilion All expendilure is accouiited for on an accruals basis and has beeti classified Ltiidcr headiiios ihat aeorcgate all cosls related to the iateoory. Expenditurc is rccognised ii.here Il)¢re is o Icgtsl or conbtruciive obligaiion to niake payments lo ihiTd rtiCS. It 15 probable ihal the Settle1ent will be required, and the amount of the obligation can be measured reliably. li is catcooriscd undcr the fol10.11]8headinV '. C0515 of raising tunds includes tundraising from wiihin the Pariqhes and Curia_ EXpe1)dire on charitable aciil'ilies includes adiniiiistration costs. bank fccs. depreciation aijd piemises expenses. Other expenditure represents Ihose ilems noi falling into tlie categories above. lThccoi'crable VAT is charged as an expcnsc a?ainst ihe activity for which cxpenditure arose. Resources expended Resource expended are included in ihe stale1ent of financial atTairs on the basis of ihe amounts payable for work donc and services provided in the 5.'caT. The costs of generating funds consist of expenditure incurffd by the charity in encournginL) other¥ to make contribulions lo il. The costs of aclii'ities in the furtherance ofthe charity's objectii'es consist of all expendire directly relatcd io the objectivcs of tlie Diocesc. Support costs rq)resent indirect chariiable expenditure. In order to carry oul the priniary purposes of the charity il is necessary io provide 5UPPOrt in ihe forn] of personncl dcvelopinenl. financial proccdurcs and controls, provision of oeneral office sen'ices and equipincnt and d Suitable w'OTking eiiviionment. All SUPPOrt C051S and goiiernance COS15 are included ivithin Ihc expendiiure ol. tlie one principal cliaritable activit (If the Charily i.e. adanCIn0 the Rovnan Caiho15¢ faitl) priiiiarilv ifvithin tlie Archdiocesc uf Arniauh.
Docusign Envelope ID". C400E333-0FOE477d¥B9BF-E02A7FF3D4C3 St Patrick's Archdiocesan Trust Limited Notes to the financi21 statements for the year ended 31 March 2023 Govern]Ce costs coniprise the costs relmiing io ihe public accounlabilits, of tlie cliarity (including audit CO%LsI and costs incurred respect ofiis compliance ltI7 regulaiioii and good praclice. All suppon costs and goi'ernance costs are included ii'iihin the expenditure of the one principal charitable actilty Iiamely the cosis of acliviiies in ihe furtherance of ihe charity's objective. Tangible fiyed assets Land ond buildings Land is divided into different catetyorics and has been i'alucd by Ihe charity usin¢F a value per acre: dependii)g upon the type ol land Ilial is Iield, lo artii'e 31 dee]ed cosE. Prior 10 activation of St Patrick's Archdioccsan Trust Liniited oil the l April 2018, Ihe accouiitiiio policy applied io mosi buildines for capital expenditure to be i4'rillen off in full as incurred. As a result of Ihal policy. the original cosis and accvmulaled depreiiatiun of mosi i)roperty l)eld then Ia$ not available. The charity's i.'leN was Ihat a reasonable approxinialion ofihc Iiel book i'aluc of property held al l April )0 l %, the dale ihe assets were assunied inlo Si PairiLk's Arclidiocesan TNst Limited. would be eslablisliid ihrough discouiitiN(J thL insurancc I'aluaiioii of tl)ese assets by 90 /r. This was the policj cmploTred io include thc asscts for i¥hicl) Ilie cost could not be identified on the balance 5heel at cstinialed historic cost net of accumulaied depreciation. Depreciation is provided al ratcs calculated lo Th"ril¢ off ihe cost less residual i'alue of each asset over il5 estimalcd usefi]l economic life al l Q/. for chureh buildings and 2 /0 for all other buildings. Other tangible fixed assets Oihcr iangible fixed assets are stated at cost Icss dLpreciation. Additioits aic capitalised here the value exceeds £5,000. Depreciation 15 proi'ided at rdtes calculated io write off the c05t les5 residu81 value of each abset oiler its expected vseful life. a5 folloS.. 15°/o. 250/D Strdighi liiic and ?0 % reducino balance 250/0 gifdight line Fixturcs, fittings and equipmeni Molor i'ehicles Land is not depreciated. Ini'estment properlies Investments aremeasurcdatfairvalueal each reportingdateivithchanges in fairvalue recogniscd in 'nel gains / (losses) on iniiestments. in theSoFA. Ini'estments Invcslmcnts are recooniscd at market i'aluc al the balance sheci dale which is nomially the transaction pi'ice excluding Iransaction cosis. Current assel inesimei)ts short terni l)igh1 liquid investiiienis ai)d are lield al fair N'alue. Tl)esc include cash on deKN)sil and cash equii"'alen15 wilh d nialurity ot-less than oncyear. Debtors and creditors receivable I pavable Mithin one )'ear Debtors and crcdilors with no slatcd interest raie and rcceivablc orpayablc witliin unL ycilr are rccoidLd at transaction prtce. Any losses arisiiio frotn impairnienl are FeLogni¥ed in expenditure. 36
Docusign Envelope 10.. C4O0E33>DF(E477B9BF.Eo2A7FF3D4C3 St Patrick's Archdiocesan Trust Limited Notes to the financial statements for the year ended 31 March 2023 Cash and easkn equii'#lellt5 Cash and cash equiiialenls in the balance sheei coTtEprise casli ai bank5 and in hand and s110rt_lem) deposits iviih ali original Inaturily dale of thtce month5 or less. For the purpose of the cash tlow 5ta(emeni. cash and cash equivalents consist ol cash and cash equivalents as defiiied aboi'e. net of outslanding bank overdrafts. Impairment A55ets nol measured ai fair value arc reviVed for anv indication ihai the asset may be iinpAircd al each balance sheet date. If such indicaiion exist5. the recoi'erable amounl of the assei. or the asset's cash generating unit. is esiimated and eumpared to (he carrving amount. Where the carrying amount excced5 Its recoi'erable amouni. an imp2irtncnl loss is reco?nised in the SOFA unless the assel is carried at a revalued amount where the impairn]ent Ios5 is a revaluation decrease. Provisions Provision5 are recoonised when thc charitv has an obligation at the balaiice sheet dale as a rcsuli of a pasl el'ent. it 15 probable tlial an ouifloiv of econoTnic benefiis ivill be required in settlemenl and the amount can be reliably eqtimatd. Foreion currency Foreign currenc! trdiisactions are iniiiall). recogniscd bv applking lo Ihe foreig]i currency aniouiit Ihe spol excliange rate between the functional Lurrcncy and ihc foreign currcnc)i at the dalc of the transaction. Monetary asset% and liabililies denominaied in a foreign cuffency xt ihe balaiice sheci date are translated using the closinu rate. Pensions The pension costs for Ihe chariry's pension schcmes are chareed in the year thev are incurred. Terminatioll benefits Terniination bentfits are payable when employmeni is terniinated before the nornial relireineni date, or whcnever an employee accLPiS voluniary redundaIic! in exchange foT these bcnefits. Tlie charity recogni8es tem)ination benefits 'hen it is demonsliablv commirted lo eiiher {1) terminating the einploynLnt of currcnt nplOyeeS according lo a delailcd fonn81 plan wiiliout possibility of withdrawal or (li) providing tcr]ninaiion bcncfi15 a5 a resuli of an offci tnade lo encoiirage volui)tary reduiidancy. Tax It Is considered that the charity is largely exempt from income tax ii? Northcrn Ireland under the provisions of (hc Incomc and CoFporalion Taxcs Act 1988 and Ihc Taxation of Taxablc Gains Acl 1992 and in the Republic of Ireland under ihe proi'ision s84A of the Taxes con.solidation Act 1997. Rccovery is made of lax deducted from Income and from receipis under Gift Aid in Northern Ireland and CHY cliaritabl¢ donalions scheme in the Republic of Iicland. The charity Iwas nol &ble to recover Value Added Tax. Expendibjre is recorded in the accounts inclusive of VAT. 37
Oocusvjn Envelope ID". C400E33>DFOE4774B9BF_EI)2A7FF304C3 St Patrick's Archdiocesan Trust Limited Notes to the financial statements for the vear ended 31 March 2023 Fillancial lll5truments The charilj" has chosen lo adopt Sections I l and 12 of FRS 102 In respecl of financial instnjnieiils. li) Financial a5sels Basic financial assets, including trade and other receivables. cash and bank balanccs and amounts 0.ed by relatcd coiiipanics are inilially rccognised at transactioii price. unle5S thc 2rTaiiuciiicIit coi)stitules a financing Iransaction. where the trdnsaclion ib nieasured at the present i'alue of the future receipts discounted al a market rate of interest. Such assels are subsequently carried al arnortised cosl usin2 Ilie effeclive interest iiiethod. Al the end of each reporting period financial assets measured al amonised cosl are assessed for objeciii'c cvidence of impaiFmcnÈ. If an asset is inipaired, the impaimient loss is tlie differeiicc bel'C¢n the carryiiig aniount and the prc5enl value of the esiimaled casli Ilows discounted at the as5et'5 original effective interest rate. The impairnient1055 is recogi)ised in SOFA. If iherc is a decrease in ihe impairnieni loss ari%ino from an event occurring afier the impairnicnt was recognised. ilie impairnienl 15 Tcverscd. The reversal is such ihat the currenl canying aiiiounl doe5 not exceed i¥hai tlie Larrying amouni ii'OLild haN'e been had the impainnent not previously been recogni5ed. Thc iinpainTrcnl rcCr5aI is recogniscd in the SOFA. lil) Financial liabilities Basic finaiicial liabililies, including tradc and othcr payablcs, bank loans and OVCTdraft5 and hire purcliase contracts are initially recognised at transaclion price. unless the arrangeinent conbliluies a financing transaction, i¥hcre the dLbt in5trumeni is measured ai ihe present i alue of the fuTure receipis diseounled al a markei rale of interest. Debi insirumeTrts are subsequeiiily carried ai amortised cost, using the effeciive interest rate method. Fees paid on the esiablishment of loan facilities are recogiiised as iran%action costs of the loan to the extent Ihal it IS Probable tlial soine OT all of th¢ facility ii'ill be drawi) down. In this case. the fee is dCreed until the draii'_down OCCUT5. To the extent there is no evidence that it is probable that tsonie or all of the facility will be drawn do, Ihe fee is capitalised as a pre-paymenl tor liquidity servic&s and amortised over the peri(Id of the facility lo whiLh it ielaies. Trade payables are obligalions lo pay for goods or seTr'ices that hai'e bcen acquired in tlie ordindry course of business from siippliers. Accounts payable are classified as tUen1 liabiliiies if payii)enl 15 due ivirhin one }'ear or less. If not. Ihey prcsilltcd as non-curreni liabilities. Trade payables are recogniscd initially at Iransaciion price and subsequently measured at amortised cost using ihe efTective interesi meihod. Financial liabilities are dciecogniscd M-hen Ihe liabilily is exiinguished, Ihat is whcii the contractual oblioation is discharged. cancelled or expires. lili) Offsetting Financial assets and liabilities are offsei, and the nct amounts presenled in the financial 5talcmenlS wlien there is a leg311y enforceable right io sel off Ihe reLognised amounts and there TS an intention lo settle on a net basis or lo reali.%e Ihe asse( and settle ihe liability 5imulianeously. 38
Docusign EnvelDpe ID". ¢4E333-oF0E477*F89BF-Eo2A7FF3D4C3 St Patrick's Archdiocesan Trust Limited Notes to the financial statements for the year ended 31 March 2023 Collections, donations and legacies Parishes Unrestritted runds Restrictcd funds 2023 TDt21 fund5 2022 Totsl fui)d5 Offcriorres and colleciions Doiialions lind legacies Charitable relief 7.77i.626 5i9.990 9?6.5S8 9.?4?,2LH 7,775,626 539.9911 926,588 9.241204 7,175,234 988.448 800.149 8.96i.811 Curia Offertories and collections Donaiions aiid legacies Lcvy Income 24.44? 1.933,541 56.588 2.014.571 24.442 31.681 ?70.425 101,611 403.717 56,588 2.014,571 All i'oluniary income. with the exeepiion of £2.054 from donalions. il'as resiricted in ?022. Investment income Parishes L'nrcstricted funds Rcsiricied lunds 20?3 Total fullds 2022 Total ]Id8 Iiicome from lisied ini.'Lslmenl5 Bank inicrcsl ?.069 2.069 2,069 2.069 1.090 1.090 Curia Ii)come from iTJvesiment prowties Income from listed ini.estmen15 Bank intere51 25,910 25,910 417,264 73,968 517.142 398.203 4,228 427,3.19 73,968 491.232 25.910 All ine5ent income. with the exccption of income from inveslmenl prop¢rtie5, was rcstrictcd in ?0?2.
Do¢uSign Enveh)pe ID: c41)OE33DFL477+B98F-Eo2A7FF3D4C3 St Patrick's Archdiocesan Trust Limited Notes to the financial statements for the vear ended 31 March 2023 4. Charilable aetii'ities Parishes Unre5tTltted fund5 Restricted funds 2023 Tol#l fuNds 2022 Total fuiid5 Grants reclived 178.996 178,996 29.609 Fundraising Renial inLome 719.)68 719,268 719.638 858.966 858.966 576.175 Grave fees 220.483 220,483 7,617 170.604 Gokemineni Covid 19 5vbsidies 7.617 433,-375 1,985.3)0 1.985J30 .929.401 Curia GTanlS recrived 12.774 325.839 ?6,401 Pilgrimage&lTeirea15 Fui)dTaising Renial inLOtTIc 325.8)9 32,105 30,833 30,8.13 Govemiiient C.oi'id 19 subsidi¢s 52.635 12.774 356.672 369.446 AII iT]come from chariiable activiti¢s. with the exception of£15.42i w&5 restricted in 202? 5. Net gains on disposals of tangiblc filed a55ets Unrcstricled fuDds Restricted Funds 2013 Tfrt*l futtds ?02? Total fuiid5 Profit on sale of iangible fixed assels Parish¢$ 302,609 302.609 242.74? Curial 101,US0 403.659 403.659 ?42.742 The nel on dissx)sals of tan¥ible fixed assets was resiric¢ed in 2022.
DOcuSn Eovebpe 10.. C41X>E333-DFOE4774-B9BF-E02A7FF3D4C3 St Patrick's Archdiocesan Trust Limited Notes to the financial statemeDts for the year ended 31 March 2023 6. Cost5 of raising funds Parishe5 Unrestricte41 funds Re51rictcd fllnds 2023 Tolal fund$ Toial fund Fundraisints expenses 267.981 267.981 267.981 177.666 267 981 177.Ci66 Curia Fundraisino expenses ?.015 2,015 1,070 2,015 2.ols 1.070 The cosl of raisine funds in Parishes and Curia iva5 fcsirictcd in 2022.
Oocusign Envelope ID.. C400E33>DFOE477*F89BF-E(12A7FF3D4C3 St Patrick's Archdiocesan Trust Limited Notes to the financial statements for the .year ended 31 March 2023 7. Charilable Expenditure Parishes Unrestricied funds Restricted funds 2023 Tolal funds 202? Toial funds Adniitjistralion cosls 211.268 211.268 145,923 64,041 Legal and professional fees Bank cl)aroes 70,012 70.012 68.838 1.425.256 51.859 lJ8.838 42,007 Clertsy revenue paymenis Pasioral personnel Premises cOS 1.425.2i6 1.487.848 51.859 47,520 2.06¥,848 2.068.848 1,455.794 otives and liw¥gical costs Parish ccnire costs 529.082 529.082 506.521 245,645 Z4i,645 191,209 C]r05.alarie$ and employer NICJFRSllpensions Raics and Insurnnce 1,560,748 1560.748 1.507.209 702,11 7112.110 71(I.15S Repair5 and maintcnanrc Exchange ltiainllloss Sundry eypense5 Depreciation SLh(x)I paymer]IS Charitablc donations ,916J87 .916J87 1,75-,.16? li8.167) 167.085 158.167) 167.085 11,374 92,240 842,591 8)4.724 854,724 10,858 10.858 34,936 .006J28 16.596 34,936 Diocesan levy 1.006.328 9?6.612 10.865.817 10.865.817 9.8i9.809 All Lhaiilable expenditure for Parishes rcsin.cted in 202? 42
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DO$1gn Envekjpe ID.. C400E33>DFOE4TT4F898F-Eo7FF3D4G3 St Patrick's Archdiocesan Trust Limited Notes to the financial statements for the year ended 31 March 2023 Investment management costs Parishes Unrestricted Restricied funds 2023 Total funds 2022 Toial fijiids InvLqtment Inanagcr fces Curia Unrestriettd funds Restricted fund5 Z023 Tolal funds 2022 Total funds Investment tt]anager fees 58,775 i8,775 66,949 58.775 58.775 66,949 Governance costs Curia UrtriCted fund5 Restricied funds 2023 Total lund5 2022 Totsl funds Fees paid 10 external audiiors for <iudit 75.8(KJ 25.800 ?5.800 25.8lJO 25.800 l O. Net incotne l eipenditure Nei ii)¢ome / expenditure is siaied aftcr charging.. 2023 2022 Auditors. Teniuneration- audit 25,8110 25.800 Depreciaiion- rcstricted funds 870J53 860,216
Docusig Envek)pe ID: C4(K)E333-DFOE4fi&B9BF_E02A7FF304C3 St Patrick's Archdiocesan Trust Limited Notes to the financial statements for the year ended 31 March 2023 I l. Staff numbers, costs and pension contributions The average number of en]ployees during ibe year 2s. 2023 2022 Number 14 186 20 Nuniber 14 193 207 Curia ernployees Parish employees The aggregate payroll cosis for the atx)ve were as follows.- 2023 2022 Waues and s212ries Social security costs Employer pension contributions 1,840,243 115,322 15,093 1,970,658 1.821,349 73,116 1.908.987 One employee received Temunerdiion in the band £80.000 to £89:999. The charity niakcs payn]cnls through pcnsion auto enrolmenl in respccl of eligible eniployees. The Charity considers that its key rnanagement pcrsonnel comprise ihe Direclors, Diocesan Secretary, Diocesan Financial Adininistrator and Diocesan Director for Safeguarding. Thc lotsl amount of reiiiuneration and benefits received by key management pe150nnel in ihe finanLi<il year is £147.904 (2022- £ li7,750). Indemnity insurdnce for direcLors' liability has bcetj Purchased by ihe Charity. 45
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Dorxjsign Envekjpe ID.. C400E33>DFOE477¢B9BFE02A7FF3D4C3 St Patrick's Archdiocesan Trust Limited Notes to the financial statements for the year ended 31 March 2023 13. Ini'estment5 2023 2022 Investments Opei)ing al 1° April 2022 Foreign exchange Addiiions Disposal proceeds Net realised ini"estmenl gains Net unrealised invesimeni {1055¢sVgai115 Nei moi'ement in cash and short-tcrm dqM)siIS Closing at J l March 20?3 15.276.000 13,067 3.909.135 (4.0>2 5241 221.029 (798.713) 251,427 14J19,421 14.911,618 12.580) 4.9?2.582 14,607,909) 453,080 1153.880) 1?46.911} 15.276,000 14. Debtors 21123 ?02? Tutsl Pari5he5 Curi4 Parishes Curia (lili a1C14y tax relief Prupaymenls Other debtors 875,88% 2)3,52 j 731 520 1.8JO.928 875.885 258.455 laOl.956 2 J36.296 756.67? 167.726 756.672 210.171 85? 601 1,819,444 -14.93? 47U.4i6 505.368 42,445 441.420 483,865 1.335.579 15. Creditors - amounts falling due iyithitt one vear 2023 Total 202? Totsl Parishes Curia Parisl*s Curia Bank ovcrdrafts Crcdiiors and aceruals Oihtr creditors Tax and social s¢curity 961.(HQ 401.6?2 .282,151 949,020 200.973 278.86? 416.886 217,413 614,JNO 304.638 89J.212 721524 217.413 15,514 1.847.663 547.399 2UO.973 74.i36 1,14J,818 J3.073) 1.329.589 15.9401 913,048 2,473,407 934.615 16. Provisions The ¢liarity ha5 included a proi'ision in these finatlcial sttttcments of £1.231.IXJO12022= £1.183,500) lo cover legal claims and costs. Thei hae made this provision in this year's finaii¢ial stalenieiils bascd upon Icgal advice on the likely outcome ol these cases. 49
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Docusign Envelope ID.. C400E33>DFOE4774BgBFO2A7FF3tC3 St Patrick's Archdiocesan Trust Limited Notes to the financial statements for the year ended 31 March 2023 18. Capital commilments The charity had capital comtnitrnents amounting lo £1,699,488 ai 31 March 2023 <2022.. none)- 19. Amounts held as agent Thcic are various collections taken up durii)g the Ycat within the Diocese dial are collections undertaken as agenl on behalf of oiher organisaiions. These funds are lodged to the bank and then paid lo ihe individual organi5ations. The asset and liability are not recognised ivithin tliese financial stlltemenls. The amouni of ndS held by ihe charity was £90.395 at 31 March 2023 {?022- £188.263). 20. Reconciliation of net income to net inflowl(ouffloM') of cash flom, from operating activities 2023 2022 Nel Èncome for the vedr .730.786 666.652 Ad'ustments for= Depreciation of prop¢rty. plant alld equrpiTLenl Profil OD disposal of property. planÈ and equipmeni FO]¥ exchange moi'ements Finance income 860.216 (403.6591 1?42,742) 136.178) 15.3181 192.606 (76.037) 79.703 FinaDcc cos15 68,594 Movement in inventories {2.1117 1516.852 9.445 fvlovement in r¢ccivables 205.916 Movcm¢nl ID CTeditors and other payablcs Movemenl in proiisions for liabilitie5 Movemeni in markei valuc of inveslmenl 236.805 (389,8051 636.800 ortfolio 577,684 (299,?001 Net cash inllow of cash enerated from o eralions 2,736,872 1,474.380
DoEuSign Envelope ID.. C4QOE333-DFOE477&B9BF-E02A7FF3D4C3 St Patrick's Archdiocesan Trust Limited Notes to the financial statements for the year ended 31 March 2023 22. FiTr¥ncial Instruments The charity has the following financial inslruments 2023 2022 Financial as5cts Cash held ai bank and in haDd 20J46,550 1,236,888 21,583,438 18.193.645 895.046 19.088,691 Other debiors and accnied iniome Financial a55e15 held ai amorti5ed eosi Financial liabTlitics Bank overdrafi Accruals 1282.151 949.020 200,973 2,432 144 893.212 721.5?4 217.413 Oiher crediiors Finai)iial liabiliiies held at amortised cosi 1,8_32.419 23. Contillgcnt Liability .4 contingent liability exists foi potenlidl addilional liabilities for legal costs Ihal may fall due, but ih¢ ainourEts and liming of any such poiential PayTnents for additional liabiliti&% for Icgal costs cannot be estimated with any reasonable certainty and, therefore: no proiiision has been made in these financial statements. 24. Directors. Remuneration Tiic dircciors neiihcr receiiied. nor ivaived, any L"Inoluincnls nor inade a claini for expcn5es incutted relaliii? to duties carried out for the charity- Ei_4bt i?022'. eigl)t) directors ofthe charity receiiied siipends, in agoregaie, ioialling £170.586 for Ihe year to 31 March 2023 (?022 £160.945). These stipends were paid to thcm in rcspccl ofiheir role as serving Minislers of the Church in the Archdiocese of Atn]a¥h and not as a result of their director rolc. No pcnsion coniribuiions i*ere paid on their behalf. Accommodation is provided for them exclusively as a consequence of iheir MinisleS w'ithin the Diocese. 53