Chartty number 1098982 CARLISLE DIOCESE RETIRED CLERGY and DEPENDANTS FUND TRUSTEE'S ANNUAL REPORT FOR THE YEAR ENDED 31" DECEMBER 2023 The Tntee w¢s¢nts the combincd Trustee's report, together with thc financial ststernenls. for the year ended 31" December 2023. Reference and Administrative Detalls of the Carlisle Diocese Retired Clergy and Dependants Fund The Carlisle Diocese Rctired Clergy and Dependants Fund is registered with the Charity Commi&8ion number 1098982. Its principal offi¢¢ is at chUh Housc, 19-24 Friargal¢. Penrith CAI17XR. The knstee throughout the year &nd at the date of approving this report was the Carlisle Diocesan Board of Finance Lirnited, a registered charity number 251977. A full list of the dttwtors and tTUStees of the Carlisle Diocesan Board of Finance Ltd is given in its annual report and financial statements fil with the Charity Commission and Compani¢s House. Strueture, Governance and ManAgement The Carlisle Diocese Retired Clergy and Dependants Fund is governed by its declaration of trust dated I" May 2003. The tntee is constited as a charitable company limited by membership guarantees. The sole tntte is detcrniincd by thc trust deed. Full dctails, includtng IkLe results of the Retired Clergy and Dependants Fund, are included in tbe audited financial statemcllts of the trustre. Objectives and AeÉivities The1TUStee has considered the Charity Commission's guidance on public benefit 2nd, in partlcular, the specific guidance for chartli¢s on the prevention or relief of poverty. The R¢tir¢d Clergy and Dependants Fund provides for the relief of poverty by assisting retired lergy, licensed lay workers or deserted spouses of clergy who reside or served in the DIoce of Carlisl¢ atld their d¢pendants by the provision of grants and loans. A¢hievemeDts and Performance thuing thc year grants totalling £23,805 were paid to assist 10 retired clergy or their dependants. In adth'tion. 298 retired clergy or th¢ir dependants were provided with a grant of £65 each at Christmas. The total value of grants paid was £43,197 and was funded from inveslment income of £36,560, a contribution from the G & A Bennett Trust of £12,503, and reserves. A modest gain of £8,337was also made on the sale of one of the retired clergy houses- part of which was owned by this lld- another more suitsble house bcing pur¢has¢d wlth this fimd maintaining the same value of investment in it as in the previous one. Financlal Revlew At the 31" Deccmbcr 2023 the baIance on thc capital fund of thc Rctired Clergy and Dependants Fund was £1,342,207, an increase of £103,249- as & result of increases in the valuation of investments. The accumulated surplus of income less costs was £13,885 - helping to rebuild reserv to ¢ov¢r thc payment of any grants approved in the following year. Derek Hurton On behalf of Carlisle Diocesan BoaTd of Finance 26th O¢tober 2024
Carllsle DBF RETIRED CLERGYMID DEPENDANTS FUND 31 December 2023 2023 1Jan 31 Oec 2022 lJan 31 Dec Income Galn from House Sale 8a37 Contiibution from G & A Bennelt Trust Clergy Chrtstrnas Grants 11503 23,293 Investment Income Dividends on CBF Property Fund shares Oividend5 on CBF Inv Fund shares Oeposit Fund Interest Other In(x)me 2.690 33,870 1,752 2,690 32.681 439 38,312 34809 Total In¢ome 59,152 59,102 Less Grants Pald aergy Chii51mas grants er gonts (per 5chedule} Expenses 23,805 19A92 2.070 45,190 30,544 2.876 44267 71610 Net In¢omellExpenditurel £13.88S 19.5081 Balance brought forward 1.1.23 17,8621 11,64fj Income Balan¢e Carrled Fornard 31.12,23 £6,023 R8pr888ntsd by: CBF D8POSIt Fund CBF Investment Fund Cash at Bank l Owed from Itol DBF 21,248 22.776 137.9981 117.0671 22,776 (13,5701 £6,023 7,862 è..11.:1rt, I l-;L Balance brought forward 1.1.23 1.322.958 1,477.942 Capltal grant receed Legacles Trdn5ferfrom incom8 Translers from fund8 Increase In Inv8slrnent values 103,249 1154.9841 Capltal Balane• Cathod Forward 31.12.23 £1.426307 £1.322,958 Repre5entod by: Cbrgy Houses CBF Prop8rty Fund141,317.26 Shares) CBF Investment Fund152.626.11 Shares} CBF Deposit Fund Cash at Bank J Owed from Itol DBF 145,296 50,818 1,216,372 36,921 I23,10) 145,296 53,927 1,109.814 36,921 123.1)001 £1,426,207 £1.322,958 Retired Clergy Accour)ts- D8cen&)ei 2023 FINAL.sXOCcS 111 RJ 2611012024,08..18