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 pro￿rt￿., 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.. C4O0E3￿DFOE4774-￿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 reli￿On 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.
I￿odIfIcd 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 judg￿7)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
rcCo￿lqed 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 Acti￿l11CS 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 i￿rItIng. 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 fil￿ncIal stalcmcnts For volunlccr limc in line with the SORP {FRS 1021.
Further detail 15 given in ihe Tr￿Stee'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 ocCU￿ed.
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 entitl￿￿ent 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 I￿lIh 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 Settle1￿ent will be
required, and the amount of the obligation can be measured reliably. li is catcooriscd undcr the
fol10￿.11]8headin￿V '.
C0515 of raising tunds includes tundraising from wiihin the Pariqhes and Curia_
EXpe1)di￿re 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 stale1￿ent 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 expendi￿re 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. ad￿anCIn0 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 acti￿lty 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 I￿a$
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 follo￿S..
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 in*esimei)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(E477￿B9BF.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 revi￿Ved 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 rc￿Cr5aI 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 dCre￿ed 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 tU￿en1 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". ¢4￿E333-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 in￿e5￿￿ent income. with the exccption of income from inveslmenl prop¢rtie5, was rcstrictcd in ?0?2.

Do¢uSign Enveh)pe ID: c41)OE33￿DFL￿477+￿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.

DOcuS￿n 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 cO￿S
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]r0￿5.￿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

t4J
IJ

DO￿$1gn Envekjpe ID.. C400E33>DFOE4TT4F898F-Eo￿7FF3D4G3
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
U￿r￿triCted
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

hJ

>u>>n
£ z
J ￿

Z Z 4

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 a1￿C14y 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 ha￿e made this provision in this year's finaii¢ial stalenieiils
bascd upon Icgal advice on the likely outcome ol these cases.
49

>vC
e>

Docusign Envelope ID.. C400E33>DFOE4774BgBF￿O2A7FF3t￿C3
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 Minis￿leS w'ithin the Diocese.
53