Charity number 1098982 CARLISLE DIOCESE RETIRED CLERGY and DEPENDANTS FUND TRUSTEE'S ANNUAL REPORT FOR THE YEAR ENDED 31° DECEMBER 2024 The Trustee presents the combined Trustee's report, together with the financial statements. for the year ended 311l December 2024. Reference and Admlnlstratlve Detalls of th¢ Carllsle Diocese Retired Clergy and Dependants Fwid The Carlisle Diocese Retired Clergy and Dependants Fwid is r¢gist¢red with the Charity Commission nuTnber 1098982. Its prin¢ipal office is at Church House, 19-24 Friargate, Penrith CAI17XIi The tntee throughout the year and at the date of approving this report was th¢ Carlisle Dio¢esan Board of Finance Limited. a registered charity number 251977. A 11 list of the dire¢tOT8 and trnst¢¢s of the Carlisle Diocesall Board of Finance Ltd is given in its annual report and financial statements f11ed with the Charity Comvnission and Companies House. Strutture, Governance and Management The Carlisle Diocesc Retired Clergy and DepeLidants Fund is govcrned by its declarntion of tnt dated 1° May 2003. The trustee is constituted as a chan"table company limited by membership guarantees. The sole tntee is deterniined by the trust deed. Full details, including the results of the Retired Clergy alld Dependants Fund, are in¢hLdcd in the audited finall¢ial sta*ments of the ttustee. Objecllves and Aetivities The trustee has Consided the Clwity Commission's guidan¢¢ on public benefit and. in particular. the specific guidance for charities on the prevention OT rclicf of poverty. The Rctircd Clergy and Dependants Fund provides for the relief of poverty by assisting retired clergy, licensed lay workers OT deserted spouses of clergy who reside or served in the Diocese of Carlisle and their dependants by the provision of grants and loans. Achlewements attd Perfornianee During the year grants totalling £30,569 were paid to assist I I retired ¢l¢rgy or their dependants. In addition, 398 retired clcrgy or thcir dependants were provided with a grant of £75 each at Christmis. The total value of grants paid was £60,484 and was fi]nd¢d from investment income of £38,160. a Contribution from the G & A Bem)¢tt Trust of £15,454, and res¢rv¢s. Financial Review At the 315t December 2024, the balancc on thc capitsl fimd of thc Retir¢d Cl¢rgy and Dependants Fund was £1,455.206, an incr¢as¢ of £28.999 - as a result of increases in the valuation of investments. The accumulated surplus of income less costs was reduced to £361. D¢r¢k Hurton On behalf of Carlisle Dioces Board of Finattce 17th October 2025
Carllsle DBF RlRE0 CLERGY AND DEPENDANTS FUND 31 December 2024 2023 1Jan- 31D 1Jan 31 Dec Ineome Gain Irorn House Sale Corr8¢tw re proceeds In Mayfteld Avenue 337 Contribution from G & A Bennett Trust Chri51mas Grants 15.464 12.503 Investment incorne Dividends (n CBF Propeity Fund shares Diwdends on CBF Inv Fund shares Deposit Fund Interest 2.731 34,397 3.763 2,690 33,870 1,7S2 40,892 3812 Total Incom• 56.346 59.152 Loss Grnrtts Pald Clergy Christmas grants Other grants (per sithdulel n8e8 29,915 30,569 1,524 19,392 23,806 2.070 62.008 N•t In¢omWIExpondllurel 5,6621 £13.885 Balance brought forward l Jan 2024 6.023 17.8621 Income Balance Carrfod Forward 31 Dec 2024 8.023 Repre5ent8d by: CBF Depowt Fund CBF Inv•sim8nt Fund Cash at Bank I Cfvled fr(m Itol DBF 27.138 22,T16 149.5531 21.248 22,776 137.9981 £6,023 Balance brought lonMard 1 Jan 2024 1A26.207 1.322.958 . C8pilal grant reIVed Legarie8 Tryan5fer fiorn income Trdnsfèrg from old funds Profi'VILossl on Sale of Houses In(xease in investment values 28,999 103,249 Capltal Balanet Carrfed Forward 31 De¢ 21ll4 455.206 £1426 207 Repre8ented by: Clergy Houses CBF Property Fund141.317.26 Shores) CBF Investrnent Fund152,626.71 Sh3re81 CBF Dgposit Fund Cash at Bank I lknd from Itol DBF 145,296 50.899 1,200,090 36.921 22,000 145,296 50.618 1.216,372 36.921 £1455.206 £1,426 207 Retired Cltsrgy knounts- Dec 224.x19x,AC( 112 RJ 1210812025,14..28