Chartty number 1098982
CARLISLE DIOCESE RETIRED CLERGY and DEPENDANTS FUND
TRUSTEE'S ANNUAL REPORT FOR THE YEAR ENDED 31" DECEMBER 2023
The Tn￿tee 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 chU￿h 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 tn￿tee is consti￿ted as a charitable company limited by
membership guarantees. The sole tn￿tte 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 DIoc￿e
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 rece￿ed
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
I23,1￿0)
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