REGISTERED COl￿PANy NUMBEIL. 03655641 (England and Wales)
REGISTERED CHARITY NUMBER: 1075931
REPORT OF THE TRUSTEES AND
AUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
FOR
BANGOR DIOCESAN BOARD OF FINAf4CE
BWRDD CYLLID ESGOBAETH BANGOR
Esgobaeth
Bangor
The Diocese
of Bangor
The ChuTch in Wales
15 IQ i4-
LLiilliomsdenlon

BANGOR DIOCESAN BOARD OF Fif4ANCE
BWRDD CYLLID ESGOBAETH BANGOR
CONTENTS OF THE FINANCIAL STATEMEf+rrs
FOR THE YEAR ENDED 31 DECEMBER 2023
Page
Report of the Trustees
Report of the Independent Auditors
Statement of FinAn¢iAI Activities
Balance Sheet
10
Cash Flow Statement
Notes to the Cash Floiv StAttment
12
Note$ to the Financial Statements
13 to 26
Detailed Statement of Financial Activities
27 to 28

BANGOR DIOCESAN BOARD-OF FINAIYCE
BWRDD CYLLID ESGOBAETH BANGOR
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
The tru5tC¢s who are also directors of the charity for the purposes of the Companies Aci 2006, present their report with
the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions
of Accounting and R¢porting by Charities.. Ststement of Recommended Practice applicable to charities preparing their
accounts in accordance with the Financial R¢porting Standard applicable in the UK and Republic of Ir¢land {FRS 102)
(effective l January 2019).
OBJECTIVES AND ACTIVITJES
Objeetives
The charity's objectives arc to promote and assist the work and purposes of the Church in Wales in the Diocesc of
Bangor. The Diocese of Bangor is ¢ommirted to three visionary principles.. worshipping God. growing the Church. and
loving the world. These PTincipl¢s describe the diocese's deepest hopes and ambitions, expressing the pern)anent
ess¢nce of our common lif¢. Assessing th¢ dio¢¢s¢ today through the l¢ns of thes¢ long-terni principl¢s, Ihrec urgent
and clear priorilies have also been identified.. nurturing dis¢ipl¢s; growing new ministries. and welcoming children,
young people and farnilies. These priorities describe vitsl areas of contemporary focus. In order lo make manifest Ihc5e
principles and to meet these priorities, the diocese has eommitted lo planning in Ihree key areas.. mission. property; and
finance. Planning in these Ihree areas by ¢ach of Ihc diocese's Ministy Areas will enable cach Ministry Area lo
demonstrate in practical ways th¢ m¢aning of the prtncipl¢s and priorities within their common lif¢. Three plarforn)s
(Ministry Areas.. archdeaconTies' and r¢-shaped diocesan structur¢s) now enable the dioces¢ to plan rneaningful, and lo
bring Its principles and priorities truly to life.
Significant activitiej
The charity sels the quinquennial diocesan budget, r¢¢¢iv¢s th¢ annual grant from the Representative Body of the
Church in Wales, and oversees the collection of the Bishop's Ministy Fund (conlribulions from churches towards
diocesan expenditure on ministry). The charity employs the staff team that forni rim Deiniol, based Al Ty Deiniol in
Bangor and elsewhere in the dioc¢se.
Pmblle beneflt
The INslees have paid due regard lo the Charity Commission's guidance on public benefit in deciding the activities
undertak¢n durin8 the year. Th¢ Irust¢es are salisfied that the infonnation provided in the report and accounts meets the
public b¢n¢fit reporting requirements.
ACHIEVEMENT AND PERFORMANCE
Cbarit2ble Activilies
The main Ihrnst of the charity's activities continues to focus on the provision of ordained leadership for Ihe church¢s of
the diocese. and appropriate support for these leaders, esp¢¢ially in the fields of property and fu)ance. The charity has
also continued io seek to align its resources to the diocesan principles, including by continuing to invest in nurturing
vocations, professional skills. colleagueship and collegiality.
Investment performanee
The value of the charity's investm¢nts increased during th¢ y¢ar, reflecting the upturn in the Stock Market.
Intern￿] and externAI fActor$
The overall numb¢r of p¢ople attending churches in the diocese has remained static, although wilhin th¢ context of
long-temi downward trend. However, an upward trend in the number of families involved in the life of local churches,
as w¢ll as in the number of Ihose attending acts of worship on days other than Sunday, has conlinued.
FINANCIAL REVIEW
Financial position
Durlng the year both the Restricted and Unrestricted Funds have increased The restricted elemenl has increased from
£1,527,870 in December 2022 to £1,651.093 as at December 2023. The Unr¢strict¢d Reserves have increased from
£5.320,702 to £5,806.663 in the same period.
Page I

BANGOR DIOCESAN BOARD OF FINANCE
BWRDD CYLLID ESGOBAETH BANGOR
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
FINANCIAL REVIEW
Principal funding souree$
Th¢ principal ￿ndIng source 15 income from the Bishop's Ministy Fund. The Bishop's Ministy Fund system replaced
th¢ Parish Share system in 2015, and contributions from Ministry Areas towards the Bishop's Ministry Fund in each
subsequent year have been consistently strong. That said. Ihe broad-based and lon8er-tern] impact of the pandemic on
aspects of the financial sustsinability of Ministy Areas has still fully to be understood. Moreover, thc reliance in some
cont¢xts upon the use of invested funds to meet Bishop's Ministy Fund commitments continues lo cause concern. The
trustees acknowledge with thanksgivin8 the g¢nerosity and stewardship thal allow funds to be made available to meet
Ihe cost of ministry, but are also committed to offeTing greaieT SUPPOrt lo addTess issues of financial sustainability, and
to budgeting with sensitivity and r¢alism for the coming dttade, mindful of the balance between fixed costs and more
flexible compon¢nls of expenditure. A secondary funding source is the annual grant from the Representative Body of
Ihe Church in Wal¢s. Th¢ trustees have received confirn)alion from the Representative Body of the Church in Wales of
the Partnership and Structural Resilience Funding Agreemenl for 2024 and Iheir funding commitments for futur¢ y¢ars.
Investment poll¢y and objectives
The truslces seek a level of investment ineomc that is able io support a range of important charitable activities at a time
of changc, recognising that achieving such A level of income may, in the case of some investments, pose some
challenges to the secondary goal of maintaining capital value. The trnstees work with their investment managers to
assess Ihe eihical dimensions of their inv¢5tm¢nl portfolio. priorilising the us¢ of sh8r¢hold¢r ri8hts to achieve Ihe
advancement of a progressive ethical agenda through the investhient portfolio.
Reserves polity
The trustees, objective is to maintain an opcralional res¢rve of approximately 3 months, expenditurc, 81ongside an
expendable ¢ndowmenl geared to provide investment income thal is able to support a range of important charitabl¢
activities.
FUTURE PLANS
The trustees will continue to focus iheir resources on activities that support the diocese's clearly articulated principles,
plans and platfornis, recognising that stability in lernis of the overall framework is significant at a time of major change
and challenge for Ministry Areas and Congregaiions. However, the trustees will also engage in proactive activity lo
support new programm¢s that enhance the support offered for the diocese's principles and priorities. These twin aspects
of supporting d¢eply rooled. inherited components of diocesan life and supporting new pioneering and chaplaincy
ventures, and supporting bolh aspects through coal-face staffmg and infraslruclure support, form the framework for the
charity's budgeting.
STRUCTURE, GOVERNANCE AIYD MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limit¢d by
8uarantee. as defined by the Compani¢s Act 2006.
Recrultment of new Irustees
In addition to ex-officio trustees. new trustees are recruited lo maintsin a balance of skills and experience, as well as an
appropriat¢ represeniation of ordained and lay representatives.
Organlsa¢iong1 Structure
The Board of Trnstees generally has between twelve and fourt¢tn members. The trustees meet on average four times a
year Io Teview progress and to plan for the future. The trustees are a150 members of the Diocesan Conference Standing
Committee, and reflect on th¢ Standin8 Committees business at the beginning of each of their meetings.
Decislon making
The decision-making role of the trustees in supported by preparatory work by rim Deiniol and the Bishop's Council.
and by conferring within archidiaconal Synods and the Cadfan Group of licensed clergy. The alignment in membership
between th¢ trustees and the membership of the Diocesan Conference Standing Committee also ensures that decisions
boul the use of TC50urces are fully infonned by the Standing Committee's oversight of broad stralegic consid¢rations.
Page 2

BANGOR DIOCESAN BOARD"OF"FINANCE
BWRDD CYLLID ESGOBAETH BANGOR
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
STRUCTURE, GOVERNATr4CE AND MANAGEMENT
IDdu¢tion and trllning of new trustees
N¢w trustees are inducted ihrough a s¢ri¢s of meetings with the Tim Deiniol, th¢ Bishop's Council and the Auditors.
Trustee5 are briefed on new charity law d¢velopm¢nts as they arise, and are given updates on the current issues facing
the charity during their regular meelings.
Key management remuneration
Rcmuneration of the charity's key management personnel is located within the context of the remuneration structure of
rim Deiniol more broadly, and with reference both to the remuneration arrangements for ihe clerical leadership of th¢
diocese and the pay sttvcthre of the Representative Body of the Church in Wales.
Wlder network
The charity SUPPOrts the life and witness of the Diocese of Bangor, led by th¢ Bishop of Bangor and gov¢rncd by the
Bishop in collaboration with the Diocesan Conference. The Dioc¢s¢ of Bangor is one of six dioceses of the Church in
Wales. Given th¢ charity's rol¢ in organising and providing funds for the Diocese of Bangor, it works closely with the
Repres¢ntalivc Body of th¢ Church in Wales. The Representitive Body holds assets in trust on behalf of the archbishop,
bishops, clergy and laity of the Church in Wales
currently some 1,500 churches, 650 parsonage houses and £370
million of investments.
Relited pxrtlej
Due to th¢ nature of Ihc charity's operations and Ihe cornposition of the Board of Trustees it is inevitable that
Iransaclions will lake place with organisations in which a member may hav¢ an interest. All transactions involving
organisations in which a Irustee may have an interest are conducted at anns l¢ngth. The charity has a policy that all
trusiees musl declare an interest if a related party transaction occurs.
Rlsk manigement
Th¢ trustees have a dury to identify and review the risks to which the charity is exposed and ￿ ensure appropriate
controls are in place to provide reasonable assurance against fraud and ¢rror.
REFERENCE AND ADMINISTRATIVE DETAILS
R¢gl$tered Company number
03655641 (England and Wales)
Registered Charity number
1075931
Registered office
Ty Deiniol
Cathedral Close
Bangor
Gwynedd
LL57 IRL
Pag¢ 3

BANCOR DIOCESAN BOARD OF FINANCE
BWRDD CYLLID ESCOBAETH BANGOR
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
Trustees
The Most Reverend A T G John
The Venerable A C Jones (resigned 24.2.23)
Mrs E W Owen
The Reverend Canon E C Williams
Mr G Howard (resigned 20.7.23)
The Reverend R S Wood (resigned 2.3.23)
Mrs S D Ward
Dr H J P8ry-Smith
The Rt Revd M K R Stallard (resigned 18.4.23)
The R¢vereDd M Be¢croft
The V¢nerable J Harvey
The Reverend Canon T J Jones
The Venerable R W Townsend (appointed 1.7.23}
The Venerable D A Parry (appointed 1.7.23)
The Ri8hi Rcvcrcnd D T Morris (appoint¢d I1.5,24)
Company Secretary
Th¢ Reverend Canon S B Rhys Evans
Audltors
Williams Denton Cyf
Chartered Certified Accountants
Statutory Audiiors
Glaslyn
Ffordd y Parc
Par¢ Menai
Bangor
Gwynedd
LL57 4FE
Advlseri
Bankers:
Lloyds Bank. 268 High Street, Bangor, Gwynedd LL57 IRT
Investmenl Managers:
CCLA. Senator House. 85 Queen Victoria Street, London EC4V 4ET
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The trustees {who arc also the directors of Bangor Diocesan Board of Finan¢¢ Bwrdd Cyllid Esgobaeth Bangor for ihe
purpos¢s of company law) are responsible for preparing the Report of ihe Trustees and the financial stat¢m¢nts in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice) including Financial R¢porting Standard 102 "Th¢ Financial R¢porting Siandard applicabl¢ in th¢
UK and Republic of Ireland"
Company law requires the trustees lo prepare financial statements for each flnancial year which give a tru¢ and fair
view of the state of affairs of the charilabl¢ company and of the incoming resources and application of resowces,
including the income and eXpendI￿re, of the charitable company for that period. In preparing those financial
stal¢m¢nts, the trustees are required lo
select suitable accounting policies and iben apply them consistently.
observe th¢ m¢thods and principl¢s in the Charity SORP.
make judgemenls and estimates that are reasonable and prudent;
prepare the financial statements on the going con¢em basis unless it is inappropriate to presum¢ that the charitable
company will continue in business.
Pag¢ 4

BANGOR DIOCESAN BOARD OF'Fll¥AI¥CE
BWRDD CYLLID ESGOBAETH BANGOR
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
STA TEMENT OF TRUSTEES, RESPONSIBILITIES- continued
The trustees Are responsible for keeping proper accounting records which disclose with reasonable accuracy at any lime
the financial position of the charitable company and to enabl¢ them to ensure thai the financial statement5 comply with
th¢ Companies Act 2006. They are also responsible for safeguarding the assets of th¢ charitable company and h¢nc¢ for
tsking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
there is no relevanl audit infoTmation of which the charitable company's audiiors Are unaware; and
the trustees havc taken all stCP5 that they ought to have taken to make themselves aware of any relevant audit
infomiation and lo establish that the auditors are aware of that infonnation.
AUDITORS
Th¢ auditors, Williams Denton Cyf, will be proposed for re-appoinlmenl at the forth¢oming Annual General Meeiing.
Approved by order of the board of tsustees on ..
signed on its behalf by..
The Most Reverend A T G John - TTUSte¢
Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BANGOR DIOCESAN BOARD OF FINANCE
BWRDD CYLLID ESGOBAETH BANGOR
Opinion
Wc have audited the financial statements of Bangor Diocesan Board of Financ¢ Bwrdd Cyllid Esgoba¢th Bangor (the
'charitable company? for the year ended 31 December 2023 which comprise the Statement of Financial Aclivities, the
Balance Sheet, the Cash Flow Stsiement and noles lo th¢ financial stat¢m¢nts, including a summary of significant
accountin8 policies. The financial reporting framework that has been applied in their preparation is applicoble law and
United Kingdom Accounting Standards (United Kingdom Generolly Accepted Accounting Practice), including
Financial Reporting Standard 102 Th¢ Financial Reporting Standard applicable in the UK and Republic of Ireland,.
In our opinion the financial staiements..
giv¢ a true and fair view of Ihe state of th¢ charitsble company's affairs as at 31 December 2023 and of its incoming
resources and application of resources, including its income and expenditure, for the year then ended:
have been properly prepared in accordance with United Kingdom Generally Accepted A¢¢ounlin8 Practice,
including Financial Reportin8 Standard 102 'The Financial Reportin8 Standard applicable in the UK and Republic of
Ireland,; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducied our audit in accordance with Inlernational Standards on Auditing (UK) (ISAS (UK)) and applicable law.
Our responsibilities under Ih05e standards are further described in the Auditors, responsibilities for the audit of the
rinancial stal¢m¢nts s¢¢tion of our reporl. We are independent of the charitabl¢ ¢ompany in accordance with ihe
ethical requirements that are relevant to our audit of ihe financial siaiements in the UK, including the FRC'S Ethical
Slandard, and we have fulfilled our other ethical Te5ponsibilities in accordance with these requirements. We believe
that the audit evidence we have obtained is sufficicnl and appropriaie to provide a basis for our opinion.
Conelusions rel*ting to going tonctrn
In auditing the financial staiements, we have concluded that the trustees, use of the going concern basis of accounling in
the preparation of the financial statements is appropriaie.
Based on the work we have perforn]ed, we have not identified any mhleTial uncertainties relating to events or conditions
that, individually or colleciively, may cast signifjcanl doubt on the chaTitsble company's ability to continue as a going
concern for a period of 81 le&s¢ twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant
sections of this report.
Other Informatlon
The trustees are responsible for ihe other infomation. The other inforniation comprises the inforniation included in the
Annual Report, other than the financial ststetnenls and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other inforniation and, except to the extent otherwise
explicitly stsled in OUT report, we do not express any form of assurance conclusion thereon.
In connection with our audit of th¢ financial slat¢m¢nts, our r¢5ponsibility is lo r¢ad th¢ other inforniation and, in doing
so, consider whether the other infornjalion is maierially inconsistenl with the financial statements or our knowledge
obtained in Ibe audit or otherwise appears lo be materially misstated. If we identify such material inconsist¢Dcies or
apparent material misstatements, we are required to detennine whetheT this gives rise to a material misstatement in the
financial slatem¢nts th¢mselves. If. based on the work we have perforn]ed, w¢ ¢on¢lud¢ thal there is a material
rnisstatement of this other infornialion, we are required to report that fact. We have nothing to report ID this regard.
Opinions on other matters prescribed by the Comp4nies Act 2006
In our opinion, based on th¢ work undertaken in the course of the audit..
the inforn]ation given in the Report of the Truslees for ihe financial year for which the financial statements ar¢
prepared is consistent with ihe financial statements. and
the Report of the Trustees ha5 been prepared in accordan¢¢ with applicable legal Tequirements.
Page 6

REPORT OF THE INDEPENDENT-AUDITOR'S-TO-THE"MEMBERS-OF
BANGOR DIOCESAN BOARD OF FINAIYCE
BWRDD CYLLID ESGOBAETH BANGOR
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and ils environm¢nt obtained in the course
of the audit, we have not identified material misstat¢m¢nts in the Report of the Truste¢s.
We have nothing to report in respect of Ihe following matters where the Companies Act 2006 r¢quiT¢S US to report to
you if, in our opinion..
adequate accounting records have not be¢n kept OT returns adequate for our audit have not been received from
branches not visited by us. or
the fmancial statements are not in agreement with the accounting records and returns. or
certain disclosures of truste¢s' remuneration specified by law ar¢ not made. or
w¢ hav¢ not r¢¢¢tv¢d all ihe information and explanations w¢ r¢quire for our audit; or
the trustees were not enlitled lo lake advantage of the small comphntes exemption from the r¢quir¢mcnl to prepare a
Strategi¢ Report or in preparing the Report of the Trustees.
ResponsibAlitles of trustees
As explained more fully in th¢ Stat¢m¢nt of Trusiees, Responsibilities, the trustees (who are also the directors of the
charilablc ¢ompany for the purpos¢s of company law) are responsibl¢ for the prepaTHlion of the financial statements and
for being satisfied that they give a trne and fair view, and for such internal control as the trustees del¢miinc is nccessary
to enable ihe preparation of fmancial statements that are free from material misslatemenl, whether due to fraud or e￿Or.
In preparing the financial statements, the trustees are responsible for assessing the chariiable company's ability to
continu¢ as a going concern, disclosing, as applicable, matters r¢lat¢d to going concern and using the going con¢em
basis of accounting unles5 the trustec5 Clther intend lo liquidate the chaTltable company or to cease operations, or have
no realisti¢ alternative but to do so.
Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BANGOR DIOCESAN BOARD OF FINANCE
BWRDD CYLLID ESGOBAETH BANGOR
Our re$ponslbilltles for the audit of the financial statement$
Our objectives are to obtain reasonable assurance about wheth¢r the fmancial statements as a whole are free from
material misstatement, whether due to fraud or ¢rror. and to issue a Report of the Independent Auditors Ihal includes
our opinion. R¢asonable assurance is a high level of assurance, but is nol a guarantee thai an audil conducted in
accordance with ISAS (UK) will always detect a material misstatement when il exists. Misslalements can arise from
fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to
influ¢n¢e th¢ ¢¢onomi¢ d¢cisions of users taken on Ihe basis of these financial st8lemenls.
The ¢xlent to which our procedures are capable of detecting irregularities. including fraud is detailed below..
Based on our understanding of th¢ charitabl¢ Company and the environment in which it operaies, we considered the risk
of acts by the charitsble company ihat were contrary to applicable laws and regulations, including fraud, and designed
audit Procedures in response to this risk. We focuss¢d on laws and regulations which could give rise to a material
misstatement in the financial statements, includin8, but not limited lo, Companies A¢1 2006 and Charities Acl 2011.
Our tests included:
enquiring wilh management of any known or Suspected irregularities, including fraud.
evaluating th¢ ad¢quacy of inlernal controls designed io d¢tect or pr¢v¢nt 1￿c8Ularitlc8, including the risk of
management ov¢rrid¢'
agreeing the amounts and disclosur¢s in the finan¢i21 statements to underlying supporting documentation.
testing journal entries lo identify unusual transaciions- And
evaluating whether there was ¢viden¢¢ of management bias on kcy judgements and accounlin8 estimatcs.
There are inherent limitations in the audit procedure5 d¢scribed above. The more removed that financial transactions
are from the laws and regulations, the less likely il is Ih&t we would become aware of non-compliance. Auditing
standards also limil the audit pro¢edur¢s required lo idenlify non-compliance with laws and regulaiion5 to enquiry of
trustees and management, and the insp¢¢tion of r¢8ulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect Ihan those resulting from errors, as fraud may
involve deliberale concealment or collusion.
A further d¢s¢riplion of our responsibilities for the audit of th¢ financial 5tat¢rn¢nls is locat¢d on th¢ Financial
Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description fornis part of our Report of the
Independent Auditors.
Use of our report
This report is made solely to the chariiable company'5 members, as a body, in accordance with Chapter 3 of Part 16 of
the Compantes Act 2006. Our audil work has been undertaken so that we might state to the charitable company's
members thos¢ rnatters w¢ ar¢ required lo slate lo them in an auditors, report and for no oihcr purpos¢. To lh¢ fullest
extent perniitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the
charitoble company's members as a body, for our audit work, for this report, or for the opinions we have fomed.
Owain Ap Elfed FCCA (Senior Siatulory Auditor)
for and on behalf of Williams D¢nton Cyf
Chartered Certified Accountants
Statutory Auditors
Glaslyn
Ffordd y Parc
Par¢ Menai
Bangor
Gwynedd
LL57 4FE
Date..
Pag¢ 8

BANCOR DIOCESAN BOARD OF"FINANC
BWRDD CYLLID ESGOBAETH BANGOR
STA TEMENT OF FINANCIAL ACTIVITIES
NCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
Total
funds
2022
Total
fijnds
as r¢slat¢d
Unrestricted
funds
Restricted
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2,952,871
311,834
3,264,705
2.661,195
ChAritable aetivities
Support for Ministy
Church Prop¢rty
7S,523
75,523
448,112
72,726
424,094
448,112
Investment income
1028J2
174 473
118096
Total
3 100 055
862 758
3 962 813
3 276 111
EXPENDITURE OIY
Charitable aetivlties
Support for Ministry
Support for Parishes
Church Property
Grants & Other Financial Support
Communication
2,050,645
539,131
264,461
66,113
312,469
6,730
472,640
288
288
2,363,114
545,861
737,101
66,401
2,056.749
477,130
617,441
39,344
Total
2 986 463
792 415
3 778 878
3 230 008
Nel gainsl(losses) on investments
306 777
118472
425 249
619453
NET INCOME/{EXPENDITURE)
Transfers between funds
420,369
188,815
65 594)
609.184
(573,350)
16
Net movement in fund$
485963
J 23,221
609,184
(573,350)
RECONCILIATION OF FUNDS
Total fund5 brought forward
5,320,702
1,527,870
6,848,572
7,421,922
TOTAL FUNDS CARIUED FORWARD
5 806 665
1651091
7 457 756
6 848 572
The notes fonn part of th¢se financial ststements
Page 9

BANGOR DIOCESAN BOARD OF FINANCE
BWRDD CYLLID ESGOBAETH BANGOR
BALANCE SHEET
31 DECEMBER 2023
2023
Total
funds
2022
Total
nds
as restated
Unrestrict
funds
Restricted
funds
Notes
FIXED ASSETS
Tangible assets
nvestments
12
13
270,940
4 651577
270,940
5 940 700
280,482
5 515 453
1289 123
4,922,517
1.289,123
6,211,640
5,795,935
CURRENT ASSETS
D¢bior5
Cash at bank
14
793,574
83,851
313 090
877,425
929,926
530,661
971437
1,4JO,410
396,941
1,807J5J
1,502,098
CREDITORS
Amounts falling due within one year
(526264)
(34,971)
<56133S)
(449,461)
NET CURRENT ASSETS
884 146
361970
J 246 IJ6
1052 637
TOTAL ASSETS LESS CURRENT
LIABILITIES
5,806,663
1,651,093
7,457,756
6,848,572
NET ASSETS
5 806 663
1651093
7 457 756
6 848 572
FUNDS
Unrestricted funds
Restricted funds
5,806,663
1651093
5,320,702
1527 870
TOTAL FUNDS
7 457 756
6 848 572
These finon¢ial statements hÈve been prepared in ac¢ordance with the provision$ applicable io charitable ¢ompanie$
subjecl to the small companies regime.
The finan
al statements were approved by the Board of Truste¢s and auihorised for issue on
and wcre signed on its behalf by:
The Most Reverend A T G John - Trustee
The
erable J Harvey
tee
The notes forni part of these financAo1 ststements
Page 10

BANGOR DIOCESAN BOARD OF FINANCE-"_--
BWRDD.CYLLID ESGOBAETH BANGOR
CASH FLOW STA TEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
as restated
Notes
Cash flows from operatlng a¢tivltl¢s
Cash g¢n¢rated from op¢rations
126 563)
132.629
Net cash (used in)/provided by operating activities
126 563)
132,629
Cash flows from Invesllng activities
Purchase of tangible fixed assets
Purchase of fixed asset investments
Interest rec¢iv¢d
(4,596)
(11,369)
(1,780)
N¢1 ¢ash provided by investing activities
Change in ¢a$h and taih equlvAlents In
the rtportlng perlod
Cash ind cash equlvaltnts At the
beglnning of the reporting perlod
(41,511)
210,469
971437
760 968
Cash and cash equlvalents at the end of
the reportlng perlod
929 926
971437
The notes fom] part of these financial statements
Page I

BANGOR DIOCESAN BOARD OF FINANCE
BWRDD CYLLID ESGOBAETH BANGOR
NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023
RECONCILIATION OF NET INCOMEI(EXPENDITURE) TO NET CASH FLOW FROM
OPERATING ACTtVlTIES
2023
2022
as restated
Net incomel{expenditure) for the reporting period {as per the
Statement of Financial Activities)
Adjustments for:
Deprecialion charges
(Gain)Iloss¢s on inv¢stm¢nts
Int¢r¢st received
(Increas¢)Id¢crease in debtors
Increase in creditors
609,184
(573,350)
14,138
(425249)
(89,648)
(347.063)
112075
13,662
619.453
(90,989)
89,721
Net tash (u$ed in)Iprovided by operation$
132 629
ANALYSIS OF CHANGES IN NET FUNDS
At 1.1.23
Cash flow
At 31.12.23
Net Cash
Cash al bank
971437
41511)
929 926
971437
41511)
929 926
Total
971437
41511)
929 926
The notes forni part of these financial statements
Page 12

. BANCOR DIOCESAN BOARD OF FINANCE
BWRDD CYLLID ESGOBAETH BANGOR
NOTES TO THE FINANCJAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES
Basis of preparing the finaneial statements
The fmancial stat¢m¢nts of the charitable company, which is a public b¢n¢ftt entity under FRS 102, have been
prepared in accordance with the Chariti¢s SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement
of R¢￿MMended Practic¢ applicabl¢ lo charittes preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102> (cffcrtive l JanuAry 2019),,
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland, and the Companies Acl 2006. The financial statements have been prepared under the historical cost
convention, with the exception of investments which are included at market value, as modified by the
revaluation of certain assets.
The Irust¢es consider that ther¢ ar¢ no material uncertainties about the charity's ability to continu¢ as a going
conc¢rn.
Ineome
All income is recognised in the Slatemenl of Financial Activiti¢s on¢¢ th¢ charity ha$ cntitlemenl to the funds, it
is probable Ihal Ihe income will be received and the amount can be measured reliably.
Expenditure
Liabiliti¢s are recognised os expenditure as soon as there is a legal or conslNctive obligation Committing the
harity to that ¢xp¢nditure, it is probabl¢ that a transfer of economic benefits will be r¢quir¢d in s¢ttl¢m¢nt and
the amount of th¢ obligation can be m¢asured reliably. Expenditure is accounl¢d for on an accruals basis and has
been classified under headings that aggregate all cost related 10 the category. Where costs cannot be directly
attributed lo particular headings they have been allocaied io activities on a basis consistent with the use of
resources.
Allocation and apportlonmtnt of ¢o$ts
Certain expenditure is directly attribulable to specific oclivilies and has been included in those cost ¢#tegori¢$,
Certain other costs, which are attributable lo more than on¢ activity, arc apportioned across cost categories on
the basis of an eslim&te of the proportion of time spent by staff on those activities or estimated usage.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated us¢ful
lif¢.
Freehold property
Fixtures and fittings
Compuler equipment
l % on reducing balance
I 00/0 on cost
25 % on cost
Investments
All listed inv¢stm¢nts are slated at market value at the balance sheet date. The movement in valuation of
investments is shown in the Stal¢m¢nt of Financial Activities and comprises both realised and unrealised gains
and loss¢s.
Taxation
The charity is exempt from CO￿oratIon tax on its charitable activiti¢s.
Fund accounting
Unrestricted funds Can b¢ used in accordanc¢ with the charitable objectives at the discretion of the truslees.
Restricted funds can only be used for particular restricted purposes within the objects of the Charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted PUTposes.
Further explanation of the natur¢ and purpose of ¢a¢h fund is included in the notes to the financial stat¢m¢nts.
Page 13
continued,..

BANGOR DIOCESAN BOARD OF FINANCE
BWRDD CYLLID ESGOBAETH BANGOR
NOTES TO THE FINANCIAL STATEMENTS - eontinued
FOR THE YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES - eontinued
Related parties
Due to th¢ nature of the Charity's operations and composition of the board of trustees it is inevitable that
tTansaciions will take place with or8anisations in which & member may have an interest. All transactions
involving organisalions in which a trustee may have an interest are conducted al arni's length. The Charity has a
policy that all trustees must declare an interest if a related paty transaction occurs.
DONATIONS AND LEGACIES
2023
2022
as restated
Ministy ar¢a donations
RBCW grants
Other granls
Structural Resilience Fund
Evangelism grants
Sundry donation & other in¢ome
1,500.822
400,000
118,731
598,926
309,599
336 627
,577,918
374,570
412,913
269,930
3 264 705
2 661195
I]YVESTMENT INCOME
202J
2022
as r¢stat¢d
Bank interesl - general
Investment income from listed investments - general fund
Invesmienl income from list¢d investments- widows & orphans
84,82S
69,478
27,107
71.074
174 473
118096
INCOME FROM CHAIUTABLE ACTIVITJES
2023
2022
as restated
Activity
Administration contributions Support for Ministy
Rents due to Parsonage fund Church Property
Parsonages improvements
fund
BDBF grant to parsonage
fund
75,523
71,122
72,726
102,803
Church Propety
135,670
97,777
Church Property
241320
223 514
523 635
496,820
Page 14
continued...

BANGOR DIOCESAN BOARD OF FINANCL
BWRDD CYLLID ESGOBAETH BANGOR
NOTES TO THE FINANCIAL STATEMENTS- contlnutd
FOR THE YEAR ENDED 3] DECEMBER 2023
CHARITABLE ACTIVITIES COSTS
Support
costs (see
note 6)
Direct
Costs
Totals
Support for Ministry
Support for Parishes
Church Propety
Grants & Other Financial Support
Communication
1,699,097
280,253
471,492
664,017
265.608
265.609
66,401
2,363,114
545,861
737.101
66,401
2 450 842
1328 036
3 778 878
SUPPORT COSTS
Gov¢rnanee
costs
Manag¢mcnt
Totals
Support for Ministy
Support for Parishes
Church Prop¢rty
Grants & Other Financial Support
Communication
619,627
247,852
247,853
61,963
44,390
17,756
17,756
4,438
664,017
265,608
265,609
66,401
1239 258
1328 036
Activity
Managernent
Governance costs
Basis of allocation
As below
As below
Support for Ministy
Support for Parishes
Church Property
Grants & Other Financial Support
Communication
SOO/o
200/•
200/•
The basis of allocation is estimated usage as accepted by Church in Wal¢s Governing Body
NET JNCOMEI(EXPENDITURE>
Net iTJcomel(expenditUTe) is stated after charginW(crediting)'.
2023
2022
as reslated
Auditors, r¢mun¢ration
Auditors, remun¢ration for non audit work
Depr¢¢ialion - owned assets
12,960
1,828
12.360
1.871
Page 15
ontinued.-.

BANGOR DIOCESAN BOARD OF FINANCE
BWRDD CYLLID ESGOBAETH BANGOR
NOTES TO THE FINANCIAL STATEMENTS- eontlnued
FOR THE YEAR ENDED 31 DECEMBER 2023
TRUSTEES, REMUNERATION AIYD BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31 December 2023 nor for th¢ year
ended 31 December 2022.
Trustees, expenses
Trustees, expenses tolalltng £1 12 was paid for the yeAr ended 31 December 2023 and £13,782 was paid for the
year end¢d 31 D¢¢¢mb¢r 2022. These expenses were made up of reimbursed travel. subsist¢nce and
accommodation costs for 3 tNstee$.
STAFF COSTS
31.12.23
31.12.22
Wages and salaries
Social security costs
Oiher pension costs
507,837
44,016
402,039
36,118
494 812
The average monthly number of employees during th¢ y¢ar was as follows..
2023
2022
as r¢stat¢d
Chief officer
Finance officer
Educationlyouth
Llan
Other
3J
13.1
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was..
2023
2022
as restatcd
£60,001- £70.000
Th¢ Charity considers its key management personnel comprise five members of Tim Deiniol wilh management
responsibility for colleagu¢s. Total emoluments. including employer pension contributions, of th¢ k¢y
managem¢nl personnel were £219,931 (2022 - £207,035)
Th¢ average monthly number of employees during the period is calculated on the basis of full-time equivalents.
The charity operated a defined Contribution pension Scheme for its employees and the Charity made pension
contributions for 24 (2022 - 13) stsff members.
Page 16
continued..

BANGOR DIOCESAN BOARD OF FIIYANCE
BWRDD CYLLID ESGOBAETH BANGOR
NOTES TO THE FINANCIAL STATEMENTS- ¢ontinMed
FOR THE YEAR ENDED 31 DECEMBER 2023
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricled
funds
Restricted
funds
Totsl
funds
as restated
INCOME AND ENDOWMENTS FROM
Donations and legacies
2,378,592
282,603
2,661,195
Chlritable aetlvltles
Support for Ministy
Church Property
72,726
72,726
424.094
424,094
Investment income
118096
Total
2.521.613
754 498
3276,111
EXPENDITURE ON
Charltable *ttivitie$
Support for Ministry
Support for Parishes
Church Property
Grants & Other Financial Support
Communication
1,784,060
382,201
156,003
39,068
272,689
94.929
461.438
276
276
2,056,749
477.130
617.441
39,344
TotAI
2 400 400
829 608
3 230 008
Net gains/(losses) on inveslmenls
619453
NET INCOMEI(EXPENDITURE}
(350,856)
{222,494)
(573,350)
RECONCILIATION OF FUNDS
Total funds brought forward
5,671,558
1,750,364
7,421,922
TOTAL FUNDS CARRIED FORWARD
5 320 702
1527,870
6 848 572
Page 17
¢ontinued...

BANGOR DIOCESAN BOARD OF FINANCE
BWRDD CYLLID ESGOBAETH BANGOR
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023
PRIOR YEAR ADJUSTMENT
Th¢ accounts have been restaled to incorporate the omission of investments h¢ld with The Representative Body
of th¢ Church in Wales. The chang¢ has resulted in total funds in¢r¢asing by £215,699 al l January 2022 and th¢
balance sheet at 31 December 2022 being r¢slal¢d.
12.
TANGIBLE FIXED ASSETS
Fixture5
and
fittings
Freehold
property
Compuier
equipment
Totals
COST
At l January 2023
Addilions
262,500
44,533
33,012
340,045
At 31 December 2023
262 500
DEPRECIA TIOIY
Ai l January 2023
Charge for y¢ar
7,797
31,176
20,590
59,563
At 31 December 2023
io
NET BOOK VALUE
At 31 D¢ccmb¢r 2023
252 156
270 940
At 31 December 2022
254 703
280 482
The building is owned jointly by the Dean and Chapter of Bangor Cathedral and the Diocesan Board of Finan¢¢
(DBF), £350,000 wa5 sp¢nt on th¢ building in 1994, the DBF share is 750/9 (i.e £262,500).
13.
FIXED ASSET JNVESTMEIYTS
COIF
investments
MARKET VALUE
At l JJnuary 2023
Revalualions
5,515,453
425 247
Ai 31 December 2023
5 940 700
NET BOOK VALUE
At 31 December 2023
5 940 700
At 31 D¢cember 2022
5515453
There were no investment assets outside the UK.
Page 18
continued...

BANGOR DIOCESAN BOARD OF FINANCE
BWRDD CYLLID ESGOBAETH BANGOR
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2023
14. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
as restated
Ministy area donations
Other debtors
188,524
688 901
144,198
386463
877 425
530.661
IS. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
as restated
Other credilors
561235
449.461
J6.
MOVEMENT IN FUNDS
Net
movement
in funds
Transfers
berween
funds
Al
31.12.23
AtJ.1.23
Unrestrlcted funds
General fund
4,945,033
254,703
412,479
(2,547)
65￿94
5,423,106
252,156
131401
Capital r¢$¢rv¢
Operational reserve
5,320,702
420,367
65,594
5,806,663
Restrlcted funds
Parsonage board
Widows & Orphans
Good Hope FoundAtion
Evangelism Fund
The Representative Body of the Church in
Wales (RBCW) Investm¢nts
535,803
784,912
9,748
791
95,562
83,648
480
(791)
{65,594)
565,771
868,560
10,228
196 616
206 534
I S27 870
188 817
J 651093
TOTAL FUNDS
6 848 572
609,184
7 457 756
Page 19
continued...

BANGOR DIOCESAN BOARD OF FINANCE
BWRDD CYLLID ESGOBAETH BANGOR
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2023
16.
MOVEMENT IN FUNDS- eontinued
N¢1 movement in funds, included in the abov¢ ar¢ as follows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrtstrieted fund$
General fund
3,100,055
(2,983,918)
(2,547)
296J42
412,479
(2,547)
10,435
Capitol reserve
Operational reserv¢
3,100,055
(2,986,465)
306,777
420,367
Restrlcted fundi
Parsonage board
Widows & OTphans
Good Hope Foundation
Evangelism Fund
The Representative Body of the Church in
Wales (RBCW) Investments
524,490
26.816
480
309,598
(475,242)
(4,455)
46J14
61,287
95,562
83,648
480
(791)
(310,389>
862 758
792 413
lJ8472
J88 817
TOTAL FUNDS
3 962 813
3 778 878)
609 184
Page 20
continued..

BANGOR DIOCESAN BOARD OF FIIY ANCE
BWRDD CYLLID ESGOBAETH BANGOR
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2023
16.
MOVEMEIYT IIY FUNDS - continued
Cornparatives for movement in funds
Net
movement
in funds
Transfers
between
funds
At
31.12.22
At 1.1.22
Unrestrleted funds
General fund
5,270.947
257,276
7,427
135908
(246,651)
(2,573)
(86.690)
14 942)
(79,263)
4.945,033
254,703
Capitsl reserve
St B¢uno Fund
Op¢rational r¢serve
79,263
120966
5,671,558
(350,856)
5,320,702
Re5tri¢t¢d funds
Parsonag¢ board
Widows & orphans
C&lhedral Partnership
Cathedral Foodbank
Good Hope Foundation
Evan8¢lism Fund
The Representative Body of the Church in
Wales (RBCW) Investments
586,729
858.276
25,172
53,427
8,888
1,582
(50,926)
(73,364)
(25,172)
(53,427)
860
(791)
535,803
784,912
9,748
791
216290
19674)
196 616
1750 364
222 494
1527 870
TOTAL FUNDS
7421922
573 350)
6 848 572
Page21
¢ontinud...

BANGOR DIOCESAN BOARD OF FINANCE
BWRDD CYLLID ESGOBAETH BANGOR
NOTES TO THE FINANCIAL STATEMENTS- contlnued
FOR THE YEAR ENDED 31 DECEMBER 2023
16.
MOVEMEIYT li¥ FUNDS - continued
Comparative nd movement in funds, Included in the above are as follows:
Incoming
resources
R¢sour¢¢s
expended
Gains and
losses
Mov¢ment
in funds
Unrestrlcted funds
General fund
2.520,184
(2.309.708)
{2.573)
(88,119)
(457.127)
(246,651)
(2,573)
(86.690)
Capitsl reserve
St Beuno Fund
Operational reserve
1,429
2,521,613
(2,400,400)
(472,069)
(350,856)
Restrleted funds
Parsona8¢ board
Widows & OTphans
Cathedral PartTJership
Cathedral Foodbank
Good Hope Foundation
Evangelism Fund
The Representative Body of th¢ Church in
Wales (RBCW) Investments
450,007
20,948
(463.910)
(6,552)
(25,172)
(63,253)
(37,023)
(87,760)
(50,926)
(73,364)
(25.172)
(53,427)
860
{791)
9,826
860
269,930
(270,721)
754 498
829 608
222 494
TOTAL FUNDS
3 276 111
Pag¢ 22
conlinued.-.

BANGOR DIOCESAN BOARD OF FIY4ANCE
BWRDD CYLLID ESGOBAETH BANGOR
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2023
16.
MOVEMENT IN FUNDS - continued
A current year 12 months 2nd prior year 12 months combin¢d position is as follows:
Net
movement
in fund5
Transfers
between
funds
At
31.12.23
At 1.1.22
Unrestrleted funds
General fund
5.270.947
257,276
7,427
135 908
165,828
(5.120)
(86.690)
(13,669)
5,423.106
252.156
Capital reserve
St Bcuno Fund
Operational res¢rve
79,263
131,401
5,671,558
69,511
65,594
5,806,663
Restrlcled fund$
Parsonage board
Widows & orphans
CalhedTal Partnership
Cathedral Foodbank
Good Hope Foundation
Evangelism Fund
The Representstive Body of the Church in
Wales (RBCW) Invcstm¢nt5
586.729
858,276
25,172
53,427
8.888
1,582
44,636
10,284
(25,172)
(53,427)
1,340
(1,582)
(65,594)
565,771
868.560
10,228
216290
206 534
1750 364
651093
TOTAL FUNDS
7421922
7 457 756
Page 23
continued...

BAIYGOR DIOCESAN BOARD OF FINANCE
BWRDD CYLLID ESGOBAETH BANGOR
NOTES TO THE FINANCIAL STATEMENTS- contlnued
FOR THE YEAR ENDED 31 DECEMBER 2023
16.
MOVEMENT IN FUNDS- conllnued
A current year 12 months and prior year 12 months combined nei movement in funds, included in the hbove are
as follows..
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
5,620,239
(5,293,626)
(5,120)
(88,119)
(160,785)
165,828
(5,120)
(86.690)
Capital reserve
Si Beuno Fund
Operational reserve
1,429
5,621,668
(5.386,865)
(165.292)
69,511
Restrltted fund$
Parsonage board
Widows & orphans
Caihedral Partnership
Caihedral Foodbank
Good Hope Foundation
Evangelism Fund
Th¢ Repres¢nlative Body of the Church in
Wales (RBCW) Investments
974,497
47,764
(939,152)
{11,007)
(25,172)
(63,253)
9,291
(26,473)
44,636
10,284
(25,172)
(53,427)
1,340
(1,582)
9,826
,340
579,528
(581,110)
1617 256
622 021
TOTAL FUNDS
7 238 924
The general fund is partly represented by Si Deiniol Endowmeni investments of £4,461,993.
Purpose of DesignAted Funds
Capltal reserve
This r¢s¢TV¢ r¢pr¢senls the value of the propety.
St Beuno Fund
To support the development of pioneer ministries, fresh expre$sion$ of Church and chaplaincy.
Operational re$¢rve
The operational reserve is to cover unforeseen emergencies, contingencies and other related costs.
Purpose of Restricted Funds
Parwnlge Board
The Parsonage Board fund was established to maintain parsonages.
Widows and Orphans
The Widows and Orphans fund is used to subsidise pension of clergy widows and dependants and to bring relief
for those who may be in need.
Page 24
¢ontinu¢d...

BANGOR DIOCESAN BOARD OF FINAIYCE
BWRDD CYLLID ESGOBAETH BAIYGOR
NOTES TO THE FJNANCIAL STATEMENTS- eontinued
FOR THE YEAR ENDED 31 DECEMBER 2023
16.
MOVEMENT IN FUNDS - continued
Cathedral PArtnershlp
The purpose of the fvnd is to finance respiie care and oth¢r support to venerable people.
CathedrAI Foodbank
The purpose of the fund is to finance 8roceries for those who fall below the poverty lin¢ in Bangor.
Good Hope FoundgtioTh
Th¢ purpose of the fund is lo finance educational activities for disadvantaged children in the Anglican dioces¢ of
Lango, Uganda.
Evangelism Fund
The purpose of Ihis fund is to finance th¢ operations of the Llan project.
The Representatlve Body of the Church ID Wales (RBCW) Investment$
RBCW Investments are held on trust for the general PUTposes for the Diocese of Bangor, for the benefit of
clergy and widows of deceased clergy in Ihe Dioces¢ of Bangor as the Bishop of Bangor from time to tim¢ rnay
direct.
17.
RELA TED PARTY DISCLOSURES
Due to the nalure of the charity's operations and the composition of the board of trust¢es, there is a close
conn¢ction between the Bangor Diocesan Board of Finance, Ihe Bangor Diocesan Housing Association ,Bishop
Henry Rowlands Almshouses and Bangor Diocesan Trust.
During th¢ year lo 31 December 2023, the following transactions took place:
Ban8or Housing Association paid Bangor Dio¢¢san Board of Finance £11,654 (2022 - £11,090) in
administralion fees and £2.423 (2022 - £2,423) in rent..
Bishop Henry Rowlands Almshouses paid Bangor Diocesan Board of Finance £24,224 {2022 £23,070) in
adminislration fees.
Bangor Diocesan Trust paid Bangor Dioc¢san Board of Finance £39,645 (2022 £38,557) in adrnini$tration
f¢¢s.
18.
CLERGY HOUSING LOAN
The charity hos a legal charge against a loan which was made lo a retried clergy to pur¢hase a property. The
value of the loan at 31 December 2023 was £30,000.
Page 25
continued.-.

BANGOR DIOCESAN BOARD OF FINANCE
BWRDD CYLLID ESGOBAETH BANGOR
NOTES TO THE FINANCIAL STATEMENTS- ¢ontinu¢d
FOR THE YEAR ENDED 31 DECEMBER 2023
19.
PENSION COMMITMENTS
The ¢haritabl¢ company operates a defined contribution pension sch¢m¢ for the offic¢ employees. The assets
of the scheme are held separately from those of the charitable company in an independently administer¢d fund
Page 26

BANGOR DIOCESAN BOARD OF FINANCE
BWRDD CYLLID ESGOBAETH BANGOR
DETAILED STATEMEiYf OF FINANCIAL AcfiviTIES
FOR THE YEAR EP4DED 31 DECEMBER 2023
2023
2022
as restated
INCOME AND ENDOWMEPUS
Donations and legacie5
Mini%lry are& donations
RBCW grdnts
Oiher grants
Structural R¢silien¢c Fund
Evangelism grants
Sundry donation & otherincome
1500,822
400,000
118,731
598,926
309,599
336,627
1,577,918
374.570
412.913
269,930
25.864
3264,705
2.661,195
Investment income
Bank interest - generdl
Investment income from listed inv¢stmenls-
general fund
Investment income from ]isted tnvestments-
widows & orphans
84,825
27,107
69,478
71,074
20.170
19,915
174,473
118,096
ChAritf¢ble Activities
Adm inistration contributty)ns
Rents due lo Parsonage fund
Parsonages improvements fund
BDBF grani to parsonage fund
75,523
71.122
13S.670
241,320
72,726
102,803
97,777
223514
523,635
496,820
TotAI incoming resources
3,962,813
3,276,111
EXPENDITURE
ChAritable Activities
Maintenance of Ministry
CYFME costs
St Seiriol
Projects & Events
Evangelism fund costs
Widows and Dependants
P&Jsonage fund ¢osts
lJ61J86
43,069
28,113
233,929
309598
3,255
471,492
,323,026
42.744
70,093
271,612
269,930
5,400
460 334
2850042
2,443,139
This page does not fotm part of the statutory fmancial statements
Page 27

BANGOR DIOCESAN BOARD OF FINANCE
BWRDD CYLLID ESGOBAETH BANGOR
DETAILED ST ATEMENf OF FINANCIAL ACTIVITIES
FOR THE YEAR EM)ED 31 DECEMBER 2023
2023
2022
as restated
Support costs
Management
Dioeegan centre sÈaff
Diocesan centre
Comtnunications
Property
Freehold property
Depn- fLxlures & frtttn
Depn- computerequipment
385,663
155.994
57,543
625,920
2547
4.453
7,138
322.763
111,904
48,963
222,767
2,573
4,453
6,636
1,239258
720.059
Governfince costs
Auditors, remunerdtK)n
Auditors, remunernlion for non audit wo
Governance
Exceptional items
12,960
1.828
60,567
13.423
12,360
1,871
52,579
88,778
66.810
Total resources expended
3.778878
3 230 008
Net income
183,935
46,103
Net gainsllk)sses) on r￿ed asset investments
425249
619,453)
Net intome/{expenditure)
609 184
573 350)
This page does not forni part of the statutory f￿anCIal statcments
Page 28