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|ABLE OF CONTENTS|||Page Numbers|
|---|---|---|---|
|Legal Objects||||
|Strategic Report:||||
|Strategic Aims|||4|
|Objectives forthe year|||5|
|Activities and Achievements||in the year|6|
|Future plans|||7|
|Financia I review|||8|
|Principal
risks and uncertainties|||13|
|Structure
and Governance|||14|
|Trustees Responsibilities|||20|
|Administrative
details|||21|
|Independent
Auditors
Repo'rt|||23|
|Statement of Financial Activities|||26|
|Income and Expenditure|Account||27|
|Balance Sheet|||28|
|Cash Flow Statement||||
|Notes to the Financiai Statements|||30|
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|The CCLA investments
total return|The CCLA investments
total return|performance|against the benchmarks|in 2021were:||
|---|---|---|---|---|---|
|||||Fund|Benchmark|
|CBFChurch of England|Investment
Fund|||+17.46%|+16.96%|
|CBFChurch of England|Property|Fund||+19.74%|+17.88%|
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|LEEDS DIOCESAN BOARD OF FINANCE|LEEDS DIOCESAN BOARD OF FINANCE|LEEDS DIOCESAN BOARD OF FINANCE|LEEDS DIOCESAN BOARD OF FINANCE|LEEDS DIOCESAN BOARD OF FINANCE||||
|---|---|---|---|---|---|---|---|
|Senior staff and advisers||||||||
|Diocesan||Secretary||Jonathan
Wood||||
|Chief Financial Officer||||Geoff Park||||
|Director||of Ministry|and|Mission
The Revd Canon Andrew|Norman|||
|Director||ofEducation||Canon Richard Noake||||
|Director||ofStrategy|Implementation
John Knox|||||
||&Head ofProperty|||||||
|Director||ofPeople and Engagement
Anna Mitchell||||||
|Director||ofChurch|Revitalisation
The Revd Jude Smith|||||
|Director||ofCommunications
Chris Tate||||||
|Registered
Office:||||Church
House, 17-19York Place, Leeds, LS12EX||||
|Princi pa|I|Bankers||Santander, 44 Merrion Street, Leeds, LS2 8JQ||||
|||||Yorkshire
Bank pic, 6-10Northgate,
Wakefield, WF1 1TA||||
|||||NatWest Bank pic, Leeds City Office, 8 Park Row,|Leeds, LSl 1QS|||
|||||Barclays Bank pic, PO Box245, 10Market Street,|Bradford,|BD11XW||
|Auditors||||Saffery Champness
LLP, Mitre House, North Park|Road, Harrogate||HG1 SRX|
|Diocesan||Registrar||David Whitaker,
Lupton Fawcett
LLP||||
|||||Yorkshire House, East Parade, Leeds, LS1SBD||||
|Investment
advisers||||CCLA Investment
Management
Ltd||||
|||||Senator House, 85 Queen Victoria Street, London,|EC4V 4ET|||
|Glebe Agents||||Dacre Son & Hartley, Station Road, Otley, LS213DR||||
|||||Stephenson
&Son, York Auction Centre, Murton,|York, YO19 SGF|||
|||||Cartar Jonas, 9 Bond Street, Leeds LS12JZ||||
|Insurance||Brokers||PIB Insurance
Brokers, Poppleton
Grange, York, YO26 6GZ||||
|Principal||lnsurers||EIG, Beaufort House, Brunswick
Road, Gloucester,|GL1 1JZ|||
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##
||||Unrestricted|funds|Restricted|EndowmentTotal
funds|EndowmentTotal
funds|Total funds|
|---|---|---|---|---|---|---|---|---|
||||General|Designated|Funds|Funds|2021|2020|
|||Note|E'000|E'000|f'000|E'000|E'000|f'000|
|Income and endowments|||||||||
|from:|||||||||
|Donations|||||||||
|Parish contributions|||11,989||||11,989|11,709|
|Archbishop's
Council|||4,074||1,542||5,616|6,045|
|Other donations|||402||162||564|1,605|
|Charitable
activities||3|1,483||||1,483|1,300|
|Other activities||4|903||8||911|793|
|Investments||5|681||347|49|1,077|1,077|
|Other||6|408||234|152|794|466|
|Total|||19,940||2,293|201|22,434|22,995|
|Expenditure
on:|||||||||
|Raising funds||7|54||||54|97|
|Charitable
activities||8|21,126|9|1,693|12|22,840|22,515|
|Pension deficit valuation|||||||||
|movements||27|(250)||||(250)|(3)|
|Other||9|170|||72|242|193|
|Total|||21,100|9|1,693|84|22,886|22,802|
|Net (expenditure)/income|||||||||
|before investment|gains||(1,160)|(9)|600|117|(452)|193|
|Net gains on investments|||674|2|1,540|2,262|4,478|1,107|
|Net (expenditure)/income|||(486)|(7)|2,140|2,379|4,026|1,300|
|Transfers between|funds|14|3,641||1,809|(5,450)|||
|Net movement
in funds|||3,155|(7)|3,949|(3,071)|4,026|1,300|
|Toiai funds brought|forward|21|49,059|961|16,243|133,796|200,059|198,759|
|Total funds carried|forward|22|52,214|954|20,192|130,725|204,085|200,059|
|||||Total|Total|
|---|---|---|---|---|---|
|||||2021|2020|
|||||Ei000|E QQQ|
|Total Income||||22,233|22,938|
|Expenditure||||(22,802)|(22,703)|
|Operating
(deficit)/surplus||for|the year|(569)|235|
|Net gains on investments||||2,216|632|
|Net income for the year||||1,647|867|
|Other comprehensive|income:|||||
|Net assets transferred|from/(to)||endowments|5,450|(809)|
|Total comprehensive|income|||7,097|58|
##
|Company
Number —SS23593|Company
Number —SS23593|||2021|||2020||
|---|---|---|---|---|---|---|---|---|
|||Note|E'000||f'000|||E'000|
|FIXEDASSETS|||||||||
|Tangible assets||16|||156,396|||159,232|
|Investments||17|||40,486|||35,866|
||||||196,882|||195,098|
|CURRENT ASSETS|||||||||
|Assets held for resale|||990|||1,225|||
|Debtors|||1,034|||1,079|||
|Cash on deposit|||7,114|||6,912|||
|Cash at bank and in hand|||2,759|||1,495|||
|Agency cash|||3,673|||3,662|||
||||15,570|||14,373|||
|CREDITORS: amounts|falling||||||||
|due within one year||19|(6,003)|||(5,765)|||
|NET CURRENT ASSETS|||||9,567|||8,608|
|TOTAL ASSETS LESSCURRENT|||||||||
|LIABILITIES|||||206,449|||203,706|
|CREDITORS: amounts|falling due||||||||
|after more than one|year||||||||
|Pension scheme liabilities||20||||||(958)|
|Other creditors||20|||(2,364)|||(2,689)|
|NET ASSETS|||||204,085|||200,059|
|FUNDS|||||||||
|Endowment
funds|||||130,725|||133,796|
|Restricted income funds|||||20,192|||16,243|
|Unrestricted
income|funds:||||52,214|||49,059|
|Designated
funds|||||954|||961|
|TOTAL FUNDS||22|||204,085|||200,059|
##
|||||||2021||2020||
|---|---|---|---|---|---|---|---|---|---|
||||||f'000||E'000|E'000|E'000|
|Net cash from operating|activities||||||(2,942)||(992)|
|Cash flows from investing|activities|||||||||
|Dividends,
interest and rent from investments|||||1,077|||1,077||
|Interest paid|||||7|||(123)||
|Proceeds from the sale of:-||||||||||
|Tangible fixed assets|||||4,171|||2,011||
|Fixed asset investments||||||||3,084||
|Purchase of:-||||||||||
|Tangible fixed assets for|the use of|the LDBF|||(555)|||(690)||
|Fixed asset investments|||||(142)|||(3,255)||
|Net cash provided
by investing
activities|||||||4,558||2,104|
|Cash flows from financing|activities|||||||||
|Loans repaid to LDBF|||||26|||||
|VLLs repaid due to property
disposal|||||(55)|||(131)||
|Permanent
loans repaid|||||(110)|||(115)||
|Net cash used in financing
activities|||||||(139)||{246)|
|Change
in cash and cash|equivalents|in the||||||||
|reporting
period|||||||1,477||866|
|Cash and cash equivalents|at 1January||||||12,069||11,203|
|Borrowings
excluding overdrafts||||||||||
|Cash and cash equivalents|at31December||||||13,546||12,069|
|Reconciliation
ofnet income before||investment||gains||||||
|Net (expense)/income
before investment|||gains|31|||(452)|||
|December||||||||||
|Adjustments
for:||||||||||
|Depreciation
charges|||||||6||6|
|Dividends,
interest and rent from investments|||||||{1,077)||(1,077)|
|Interest paid|||||||(7)||123|
|Loss on sale offixed assets|||||||242||98|
|Profit on sale offixed assets|||||||(793)||(289)|
|Pension deficit valuation|movements||||||(250)|||
|Decrease/(Increase)
in debtors|||||||19||(83)|
|(Decrease)/increase
in creditors|||||||{630)||37|
|Net cash provided
used in operating||activities|||||{2,942)||(992)|
|Analysis ofcash and cash|equivalents|||||||||
|Cash in hand|||||||6,432||5,157|
|Notice deposits (less than|3 months)||||||7,114||6,912|
||||||||13,546||12,069|
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|contrib|utions|||||||
|---|---|---|---|---|---|---|---|
|||Unrestricted|funds|Restricted|Endowment|Total|Total|
|||||||funds|funds|
|||General|Designated|Funds|Funds|2021|2020|
|||E'000|E'000|E'000|E'000|E'000|K'000|
|Apportionment||15,474||||15,474|15,588|
|Shortfall|in receipts|(3,877)||||(3,877)|(4,099)|
|||11,597||||11,597|11,489|
|Previous|years share|217||||217|117|
|Voluntary|share|175||||175|103|
|Total Income||11,989||||11,989|11,709|
##
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##
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|ishops'
Council||||||||||
|||||Unrestricted||funds|Restricted|Endowment|Total funds|
|||||General||Designated|Funds|Funds|2021|
|2021||||f'000||f.'000|f'000|f'000|f'000|
|Transition|Funding||and|3,124|||||3,124|
|Lowest Income||||||||||
|Sustainability|Grant|||950|||||950|
|RME Grant|||||||429||429|
|SDFGrant|||||||974||974|
|SMF Grant|||||||139||139|
|Total Income||||4,074|||1,542||5,616|
|||||Unrestricted||funds|Restricted|Endowment|Total funds|
|||||General|Designated||Funds|Funds|2020|
|2020||||f'000||f'000|f'000|f'000|f'000|
|Transition
Funding||and||3,187|||||3,187|
|Lowest Income||||||||||
|Sustainability|Grant|||1,026|||||1,026|
|RME Grant|||||||359||359|
|SDF Grant|||||||1,473||1,473|
|Total Income||||4,213|||1,832||6,045|
##
|r donations|||||||
|---|---|---|---|---|---|---|
||Unrestricted||funds|Restricted|Endowment|Total|
||General|Designated||Funds|Funds|Funds|
|2021|f'000||f'OOD|f'000|f'000|f'000|
|All Churches Trust Grant|285|||||285|
|Job Retention|76|||||76|
|Property Grants|11|||||11|
|Other Grants|30|||20||50|
|Legacies||||142||142|
||402|||162||564|
##
##
||Unrestricted|funds|Restricted|Endowment|Total|
|---|---|---|---|---|---|
||General
Designated||Funds|Funds|Funds|
|2020|f'000|f'000|f'000|f'000|f'000|
|All Churches Trust Grant|302||||302|
|Job Retention|244||||244|
|Property Grants|6||||6|
|Other Grants|33||20||53|
|Other donations|1,000||||1,000|
||1,585||20||1,605|
##
||Unrestricted|funds|Restricted|Endowment|Total funds|Total funds|
|---|---|---|---|---|---|---|
||General|Designated|Funds|Funds|2021|2020|
||f.'000|f'000|f'000|f'000|f'000|f'000|
|Statutory fees|979||||979|904|
|Legal &Professional|64||||64|79|
|School Services|283||||283|248|
|Retreat Centre|157||||157|69|
||1,483||||1,483|1,300|
##
|||Unrestricted|funds|Restricted|Endowment|Total funds|
|---|---|---|---|---|---|---|
|||General
Designated||Funds|Funds|2021|
|2021||f.'000|f'GOO|f.'000|F.'000|f'000|
|Housing|income|724||||724|
|Outside|funding|8||||8|
|School|income|||||8|
|Training|income|48||||48|
|Miscellaneous||123||||123|
|||903||||911|
|||Unrestricted|funds|Restricted|Endowment|Total funds|
|||General
Designated||Funds|Funds|2020|
|2020||f'000|f'000|f'000|f'000|f'000|
|Housing|income|685||||685|
|Outside|Funding|5||||5|
|Training|income|16||||16|
|Miscellaneous||87||||87|
|||793||||793|
##
|||Unrestricted|funds|Restricted|Endowment|Total|
|---|---|---|---|---|---|---|
|||General|Designated|Funds|Funds|Funds|
|2021||f'000|f'000|f'000|f'000|f'000|
|Dividends|receivable|677||347|49|1,073|
|Interest receivable||4||||4|
|||681||347|49|1,077|
|2020||f'000|f'000|f'000|f'000|f'000|
|Dividends|receivable|633||366|49|1,048|
|Interest receivable||21||5|3|29|
|||654||371|52|1,077|
##
||Unrestricted|funds|Restricted|Endowment|Total funds|
|---|---|---|---|---|---|
||General|Designated|Funds|Funds|2021|
|2021|f'000|f'000|f'000|f'000|f'000|
|Gain on sale ofproperties|408||234|152|794|
||408||234|152|794|
||Unrestricted|funds|Restricted|Endowment|Total funds|
||General|Designated|Funds|Funds|2020|
|2020|f'000|F.'MO|f'000|f'OM|f'000|
|Gain on sale ofproperties|289||172|||
||289||172||466|
##
|||Unrestricted|funds|Restricted|Endowment|Total funds|Total funds|
|---|---|---|---|---|---|---|---|
|||General|Designated|Funds|Funds|2021|2020|
|||f'000|f'000|F'OM|f'000|F.'000|f QQQ|
|Maintenance|ofGlebe|||||54|97|
|||54|||||97|
##
|||Unrestricted|funds|Restricted|Endowment|Total funds|
|---|---|---|---|---|---|---|
|2021||General|Designated|Funds|Funds|2021|
|||E'000|E'000|E'000|E'000|E'000|
|Contributions
to|||||||
|Archbishops'
Council|||||||
|Training for Ministry||500||||500|
|National
Church|||||||
|Responsibilities||392||||392|
|Mission agency pension|||||||
|costs||22||||22|
|Retired clergy housing|||||||
|costs||184||||184|
|Pooling ofordinands|||||||
|maintenance
grants||154||||154|
|||1,252||||1,252|
|Resourcing
Ministry|and||||||
|Mission|||||||
|Stipends and national|||||||
|insurance||8,815||340||9,155|
|Pension contributions||2,522||78||2,600|
|Housing costs||3,374||35||3,409|
|Removal, resettlement|||||||
|and grants||314||||314|
|Other expenses||200||||200|
|||15,225||453||15,678|
|Support for parish ministry||3,746||1,142|12|4,909|
|Retreat Centre||212||||212|
|||19,183||1,595|12|20,799|
|Expenditure
on Education|||||||
|Church Schools||691|||||
|||21,126||1,693|12|22,840|
##
|||Unrestricted|funds|Restricted|Endowment|Total funds|
|---|---|---|---|---|---|---|
|2020||General|Designated|Funds|Funds|2020|
|||f'000|f'000|f'000|f'000|f'000|
|Contributions
to|||||||
|Archbishops'
Council|||||||
|Training for Ministry||500||||500|
|National
Church|||||||
|Responsibilities||417||||417|
|Mission agency pension|||||||
|costs||19||||19|
|Retired clergy housing|||||||
|costs||179||||179|
|Pooling ofordinands|||||||
|maintenance
grants||168||||168|
|||1,283||||1,283|
|Resourcing
Ministry|and||||||
|Mission|||||||
|Stipends and national|||||||
|insurance||8,921||||8,921|
|Pension contributions||2,051||||2,051|
|Housing costs||3,315||||3,315|
|Removal, resettlement|||||||
|and grants||187||||187|
|Other expenses||189||||189|
|||14,663||||14,663|
|Support for parish||3,676|142|1,922||5,743|
|ministry|||||||
|Retreat Centre||157||||157|
|||18,496|142|1,922||20,563|
|Expenditure
on|||||||
|Education|||||||
|Church Schools||623||46||669|
|||20,402|142|1,968||22,515|
##
##
##
||||||Unrestricted|funds|Restricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|---|---|---|---|---|
|2021|||||General|Designated|Funds||Funds|Funds|
||||||f'000|f'000|f'000||f'000|f.'000|
|Loss on Sale ofProperties|||||170||||72|242|
||||||170||||72|242|
||||||Unrestricted|funds|Restricted||Endowment|Total|
|2020|||||General|Designated|Funds||Funds|Funds|
||||||f'000|f'000|f.'000||f'000|f'000|
|Funds returned|||to parish|||||96|96|192|
|Loss on Sale ofProperties||||||||||1|
|||||||||96|96|193|
|ANALYSIS|OF EXPENDITURE INCLUDING||||ALLOCATION|OF SUPPORT|COSTS||||
|||||||Activities|Grant||||
||||||Undertaken||Funding|of|Support|Total|
|||||||Directly|Activities||Costs|Costs|
|2021||||||f'000|f'000||f.'000|f'000|
|Raising funds||||||54||||54|
|Charitable
activities".|||||||||||
|Contributions|||to Archbishops'|Council|||1,252|||1,252|
|Resourcing||parish ministry||||18,882|645||1,060|20,587|
|Clergy pension|||deficit valuation|||14||||14|
|Education||||||639|||150|789|
|Retreat Centre||||||212||||212|
|Lay pension||deficit valuation||||(264)||||(264)|
|Other||||||242||||242|
|||||||19,779|1,897||1,210|22,886|
|2020||||||f'000||||f'000|
|Raising funds||||||97||||97|
|Charitable
activities:|||||||||||
|Contributions||to Archbishops'||Council|||1,283|||1,283|
|Resourcing|parish ministry|||||19,133|475||799|20,407|
|Clergy pension|||deficit valuation|||(25)||||(25)|
|Education||||||538|||130|668|
|Retreat Centre||||||157||||157|
|Lay pension||deficit valuation||||22||||22|
|Other||||||193||||193|
|||||||20,115|1,758||929|22,802|
##
##
##
|||||Unrestricted|funds|funds|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||funds|funds|
||||General||Designated||Funds|Funds|2021|2020|
|||||f'000||f'000|f'000|f.'000|f.'000|f000|
|Central
administration||||770|||||770|529|
|Supportfor
Schools||||150|||||150|130|
|Governance:|||||||||||
|External audit||||30|||||30|28|
|Registrar and
Chancellor||||241|||||241|242|
|Synodical costs||||19|||||19||
|||||1,210|||||1,210|929|
|2020 comparatives||are for the general||||fund only.|||||
|ANALYSIS OF GRANTS|||MADE||||||||
|2021|||||||No.|Individuals|Institutions|Total|
|||||||||F.'000'|i'000|f000|
|From
unrestricted||funds||for|||||||
|national
Church responsibilities|||||||||||
|Contributions
to|Archbishops'||||||12||1,252|1,252|
|Council|||||||||||
|From unrestricted|funds:||||||||||
|Ecumenical/
Churches||Together|||||||||
|organisations|||||||||||
|Clergy Training|||||||754|49||49|
|Clergy Grants (Removal,|||First||||225|315||315|
|appointment,
resettlement)|||||||||||
|Ordination|||||||33|29||29|
|Vocation grants|||||||434|151||151|
|Mission Grants|||||||51||24|24|
||||||||1,498|544|30|574|
|From restricted funds||for|||||||||
|various purposes|within||||||||||
|resourcing
parish|ministry:||||||||||
|Clergy|||||||26|29||29|
||||||||26|29||29|
|From endowment|funds||for||||||||
|various purposes|within||||||||||
|resourcing
parish|ministry:||||||||||
|Widows and dependants|||of||||14||42|42|
|clergy|||||||||||
||||||||1,550|573|1,324|1,897|
##
|2020||||No.|Individuals|Institutions|Total|
|---|---|---|---|---|---|---|---|
||||||E'000|E'000|EOOO|
|From
unrestricted
funds|||for|||||
|national
Church|responsibilities|||||||
|Contributions
to|Archbishops'|||12||1,283|1,283|
|Council||||||||
|From unrestricted|funds:|||||||
|Ecumenical/
Churches Together||||||||
|organisations||||||||
|Clergy Training||||696|47||47|
|Clergy Grants {Removal, First||||125|187||187|
|appointment,
resettlement)||||||||
|Ordination||||28|23||23|
|Vocation grants||||514|160||160|
|Mission Grants||||45||32|32|
|Youth||||||||
|||||1,408|417|32|449|
|From restricted funds for||||||||
|various purposes|within|||||||
|resourcing
parish|ministry:|||||||
|PCCs' Building Grants||||10|||8|
|Widows and dependants||of||20|17||17|
|clergy||||||||
|||||30|17||25|
|From endowment|funds|for||||||
|various purposes|within|||||||
|resourcing
parish|ministry:|||||||
|Widows and dependants||of||||||
|clergy||||||||
|||||1,451|435|1323|1,758|
##
|STAFF COSTS|||||||
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||E'000|E'000|
|Employee costs during the year were as|||follows:||||
|Wages and salaries|||||2,840|2,761|
|National
insurance|contributions||||270|253|
|Pension contributions|||||226|223|
|Sub-total|||||3,336|3237|
|Pension deficit valuation||movements|||(264)|22|
|Total Staff Costs|||||3,072|3,259|
|The average number of||persons employed||by the LDBF during 2021were:|||
||||||2021|2020|
||||||Number|Number|
|Support for Ministry|||||79|79|
|Education|||||11|11|
|Retreat House|||||11|12|
||||||101|102|
|The average number|of|persons employed||by the|||
|LDBFduring the year based on full-time|||equivalents:||||
||||||2021|2020|
||||||Number|Number|
|Support for Ministry|||||63|62|
|Education|||||11|11|
|Retreat House|||||6|6|
||||||80|79|
|excluding
Pension contributions)
amounted
to m|ore than f60,000were as follows:||
|---|---|---|
||2021|2020|
||Number|Number|
|E60,001- E70,000|2|1|
|E70,001 - E80,000|1|2|
|E80,001 - E90,000|1||
##
##
|Diocesan Secretary||Jonathan
Wood||
|---|---|---|---|
|Chief Finance Officer||Geoff Park||
|Director of Ministry|Ik Mission|The Revd Canon Andrew|Norman|
|Director of Education||Canon Richard Noake||
|Director ofStrategy|Implementation|John Knox||
|g. Head|of Property|||
|Director ofPeople|and Engagement|Anna Mitchell||
|Director of Church|Revitalisation|The Revd Jude Smith||
|Director ofCommunications||Chris Tate||
##
|||Stipend|Housing|
|---|---|---|---|
|The Right Revd Anthony|Robinson|No|Yes|
|The Right Revd Helen-Ann|Hartley|No|Yes|
|The Right Revd Paul Slater||No|Yes|
|The Right Revd Toby Howarth||No|Yes|
|The Right Revd Jonathan|Gibbs|No|Yes|
|The Revd Nigel Wright||Yes|Yes|
|Revd Canon Kathryn
Fitzsimons||Yes|Yes|
|The Revd Canon Samuel Corley||Yes|Yes|
|The Ven Andy Jolley||Yes|Yes|
|The Ven Paul Ayers||Yes|Yes|
|The Revd Rachel Firth||Yes|Yes|
##
|The LDBF|The LDBF|paid an|average|average|of320(2020-317)stipendiary|clergy as office-holders|holding|parochial|or|
|---|---|---|---|---|---|---|---|---|---|
|diocesan|appointments|||in the Diocese, and the costs were||as follows:||||
||||||||2021||2020|
||||||||E'000||E'000|
|Stipends|||||||8,106||8,234|
|Apprentice||Levy|||||38||3?|
|National|insurance||contributions||||671||650|
|Pension|contributions||||||2,509||2,051|
|Sub-total|||||||11,324||10,972|
|Pension|deficit valuation|||movements|||14||(25)|
|Total|||||||11,338||10,947|
##
##
|||||||Unrestricted|Unrestricted|funds|Restricted|Endowment|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||General|Designated||Funds|Funds|
|||||||I'000||E'000|E'000|E'000|
|From General fund to Stipends endowment||||for|||||||
|reduction ofpension|deficit|||||(532)||||532|
|Transfer ofPension|funds to General||Funds|to support|||||||
|clergy pension deficit payments
Transfer ofPastoral funds to General|||Funds|to support||50||||(50)|
|mission and pastoral|activities and|clergy pension|||||||||
|deficit payments||||||612|||(612)||
|Transfer ofS554funds to General||Funds to||support|||||||
|Board ofEducation
expenditure||||||300|||||
|Transfer of Inglefield|funds to General||Funds to support||||||||
|Lay and Clergy education||||||40|||(40)||
|Transfer ofTraining|for Ministry funds||to General||Funds||||||
|to support
ordinands'|training.|||||30|||(30)||
|Benefice transfer of|housing assets|||||3,141||||(3,141)|
|Transfer of proceeds|from the sale|of|Parsonage||Houses||||||
|tothe Pastoral Account|||||||||2,791|(2,791)|
|||||||3,641|||1,809|(5,450)|
##
##
##
##
##
||Freehold|Office|Benefice|School|Glebe||
|---|---|---|---|---|---|---|
||properties|equipment|properties|House|properties|Total|
|Cost or valuation|f'000|f'000||f'000|f'000|f'000|
|At 1January 2021|46,046|821|96,906|308|16,040|160,121|
|Additions|516||39|||555|
|Disposais|(1,270)||(1,125)|||(2,395)|
|Reclassified
in period|3,141||(3,141)||||
|Transfer to/from|(640)||(350)|||(990)|
|properties for resale|||||||
|At 31December 2021|47,793|821|92,329|308|16,040|157,291|
|Depreciation|||||||
|At 1January 2021||821||68||889|
|Charge for the year||||6||6|
|At31December 2021||821||74||895|
|Net Book Value|||||||
|At 31December 2021|47,793||92,329|234|16,040|156,396|
|At 31December 2020|46,046||96,906|240|16,040|159,232|
##
|17.|FIXED|ASS|ETS INVESTME|NTS||||||
|---|---|---|---|---|---|---|---|---|---|
|||||At||||Changein|At 31|
|||||1January|||Transfers|Market|December|
|||||2021|Additions|Disposals|Value|Value|2021|
|||||K'000|f'000|f'000|f'000|f'000|f'000|
||Unrestricted||funds|||||||
||Unlisted|investments||4,698|||732|674|6,104|
||Designated||funds|||||||
||Unlisted|investments||14|||||16|
||Restricted funds|||||||||
||Unlisted|investments||10,655|||(687}|1,540|11,508|
||Endowment||funds|||||||
||Investment||property|4,616|||||4,616|
||Unlisted|investments||15,883|142||(45}|2,262|18,242|
|||||20,499|142||(45}|2,262|22,858|
||Total|||35,866|142|||4,478|40,486|
|18.|DEBTORS|||||||||
|||||||||2021|2020|
|||||||||EOOD|E'000|
||Due within one year|||||||||
||Loans|to|parishes|||||9|22|
||Other|debtors and prepayments||||||986|1,005|
|||||||||995|1,027|
||Due after||more than one year|||||||
||Loans|to|parishes|||||39|52|
|||||||||39||
||Total|debtors||||||1,034|1,079|
##
##
##
|CREDITORS: amount
falling|due within one year||||
|---|---|---|---|---|
||||2021|2020|
||||E'000|E'000|
|Loan repayment
instalments|due in one year||||
|Church Commissioners
value-linked
loans|||169||
|Church Commissioners
other|loans||101|110|
|Other taxes and social security|||71|68|
|Other creditors and accruals|||4,933|4,746|
|Pension scheme liabilities:|||||
|Lay Defined Benefit Scheme|||169|309|
|Clergy Pension Scheme|||560|532|
|Total creditors: amounts
falling due within one year|||6,003|5,765|
|CREDITORS: amount
falling due after more than||one year|||
||||2021|2020|
||||E'000|f'000|
|Loan repayment
instalments|due after more than one year||||
|Church Commissioners
value-linked
loans|||1,912|2,136|
|Church Commissioners
other|loans||452|553|
|Pension scheme liabilities:|||||
|Lay Defined Benefit Scheme||||382|
|Clergy Pension Scheme||||576|
|Total creditors: amounts
falling due after more than one year|||2,364|3,647|
|The maturity
of the above loans may be analysed||as follows:|||
|Less than one year|||270|110|
|Between one and two years|||100|101|
|Between two and five years|||299|301|
|In five years or more|||1,965|2,28?|
||||2,364|2,689|
##
##
|2021|||Balances at|||||Balances at|
|---|---|---|---|---|---|---|---|---|
||||1January||||Gains and|31December|
||||2021|Income|Expenditure|Transfers|Losses|2021|
||||f'000|f'000|f'000|f'000|f'000|f'000|
|UNRESTRICTED FUNDS|||||||||
|General|||49,059|19,940|(21,100)|3,641|674|52,214|
|DESIGNATED FUNDS|||||||||
|Archdeacons
Discretionary|||12||(1)|||13|
|Ingrow Fund|||28||(8)|||20|
|Mission Fund|||621|||||621|
|Carbon Reduction
Fund|||300|||||300|
||||961||(9)|||954|
|RESTRICTED FUNDS|||||||||
|Section 554 Education|||6,829|260|(98}|(300)|808|7,499|
|Clergy &Dependants|hardship||84|21|(17)||8|96|
|funds|||||||||
|Bradford Summer Camps|||1|||||1|
|Local Educational
Funds|||33|||||37|
|Retreat House support|funds||31|||||31|
|Local Parochial purposes|||13|||||13|
|Appeals &specific purposes|||72|||||65|
|Clergy
&
lay||stipend||142||||142|
|augmentation|||||||||
|Church
building
repair|funds||359||(12)||53|401|
|Pastoral Account|||6,289|||2,179|363|9,093|
|Managing
Trustees funds|||51|||||51|
|Inglefield
funds|||1,602|40||(40)|182|1,784|
|Training for ministry
funds|||815|452|(465)|(30)|124|896|
|Strategic Development||Funds|64|974|(955)|||83|
|Strategic Ministry
Funds||||139|(139)||||
||||16,243|2,293|(1,693)|1,809|1,540|20,192|
|ENDOWMENT
FUNDS|||||||||
|Permanent|||||||||
|Stipends fund capital|||16,067|||1,878|1,824|19,769|
|Expendable|||||||||
|General purposes
&|||212|||||212|
|administration
support|funds||||||||
|Maintenance
of Ministry|||1,110||||160|1,270|
|Pensions|||100|2||(50)|14|66|
|Training for ministry
funds|||111|3||||114|
|Clergy &dependants
hardship|||1,192|26|(12}||126|1,332|
|funds|||||||||
|Local Parochial purposes|||541|||||592|
|Glebe Land|||4,797|||(181)||4,616|
|Church
building
repair|funds||634|19|||51|704|
|Glebe Properties|||17,277||(72)|(1,165)||16,040|
|Benefice Properties|||91,460|151||(5,932)||85,679|
|Religious Education support|||252||||36|288|
|Appeal funds &specific||purposes|43|||||43|
||||133,796|201|(84)|(5,450)|2,262|130,725|
|Total funds|||200,059|22,434|(22,886)||4,478|204,085|
LEEDS DIOCESAN BOARD OF F]NANCE
49
##
|||||||||
|---|---|---|---|---|---|---|---|
|2020||Balances at|||||Balances at|
|||1January||||Gains and|31December|
|||2020|Income|Expenditure|Transfers|Losses|2020|
|||E'000|l'000|E'000|L'000|f'000|E'000|
|UNRESTRICTED FUNDS||||||||
|General||48,371|20,542|(20,497)|585||49,059|
|DESIGNATED FUNDS||||||||
|Archdeacons
Discretionary||12||(1)|||12|
|Ingrow
Fund||90||(62)|||28|
|Mission
Fund||700||(79)|||621|
|Carbon Reduction
Fund||300|||||300|
|||1,102||(142)|||961|
|RESTRICTED FUNDS||||||||
|Section 554 Education||6,776|204|(46)|(300)|195|6,829|
|Clergy &Dependants||75|21|(15)||3|84|
|hardship
funds||||||||
|Bradford Summer Camps||1|||||1|
|Local Educational
Funds||32||(2)|||33|
|Retreat House support funds||31|||||31|
|Local Parochial purposes||13|||||13|
|Appeal &specific purposes||72|||||72|
|Church
building
repair funds||436|1|(103)||25|359|
|Pastoral Account||6,781|268||(988)|228|6,289|
|Managing Trustees funds||51|||||51|
|fnglefield
funds||1,536|42||(44)|68|1,602|
|Training for ministry
funds||821|383|(380)|(62)|53|815|
|Strategic Development|Funds|107|1,475|(1,518)|||64|
|||16,732|2,396|(2,064)|(1,394)|573|16,243|
|ENDOWMENT
FUNDS||||||||
|Permanent||||||||
|Stipends fund capital||14,833|||938|295|16,067|
|Expendable||||||||
|General purposes
&.||212||||||
|administration
support funds||||||||
|Maintenance
of Ministry||1,038||||71|1,110|
|Pensions||216|||(129)|13|100|
|Training for ministry
funds||103|2|||6|111|
|Clergy &.dependants||1,110|29|(4)||57|1,192|
|hardship
funds||||||||
|Local Parochial purposes||539|||||541|
|Glebe Land||4,792|||||4,797|
|Church
building
repair funds||602|18|||14|634|
|Glebe Properties||17,279||(2)|||17,277|
|Benefice Properties||91,553||(93)|||91,460|
|Religious Education support||235||||17|252|
|Appeal funds &other specific||42|||||43|
|purposes||||||||
|||132,554|57|(99)|809|475|133,796|
|Total funds||198,759|22,995|(22,802)||1,107|200,059|
|22.|SUMMARY OF ASSETS BYFUND|SUMMARY OF ASSETS BYFUND|SUMMARY OF ASSETS BYFUND|SUMMARY OF ASSETS BYFUND||||||
|---|---|---|---|---|---|---|---|---|---|
||2021||||Fixed assets||Current||Net:|
||||||Tangible|Investments|Assets|Creditors|Assets|
||||||E'000|E'000|E'000|E'000|E'000|
||Unrestricted
funds —General||||47,793|6,104|2,133|(3,816)|52,214|
||Unrestricted
-designated|||||||||
||Archdeacons
Discretionary|||||16||(3)|13|
||Ingrow Fund||||||20||20|
||Mission
Fund||||||621||621|
||Carbon Reduction
Fund||||||300||300|
|||||||16|941|(3)|954|
||Restricted|||||||||
||Section 554 Education||||234|6,444|821||7,499|
||Clergy &.Dependants
hardship|||funds||56|40||96|
||Bradford Summer Camps||||||1||1|
||Local Educational
Funds||||||23||36|
||Retreat House support funds||||||31||31|
||Local Parochial purposes|funds|||||14||14|
||Appeals
&.specific purposes||||||283|(218)|65|
||Clergy &lay stipend augmentation||||||142||142|
||Church building
repair funds|||||421|65|(85)|401|
||Pastoral Account||||2,781|2,316|3,996||9,093|
||Managing Trustees||||||51||51|
||Inglefield funds|||||1,415|369||1,784|
||Training for ministry
funds|||||843|53||896|
||Strategic Development|Funds|||||83||83|
||Schools LCVAP Building|Programme|||||3,673|(3,673)||
||||||3,015|11,508|9,645|(3,976)|20,192|
||Endowment|||||||||
||Permanent|||||||||
||Stipends fund capital||||4,219|14,685|1,424|(559)|19,769|
||Expendable|||||||||
||Benefice houses||||85,329||350||85,679|
||General Purposes||||||212||212|
||Maintenance
of Ministry|||||1,268|2||1,270|
||Glebe Property||||16,040||||16,040|
||Pensions|||||66|||66|
||Training for Ministry|||||114|||114|
||Clergy &Dependants
hardship|||funds||1,007||(13)|1.332|
||Local Educational
Funds|||||111|||111|
||Local Parochial
purposes|funds||||404|188||592|
||Glebe Land|||||4,616|||4,616|
||Church
building
repair funds|||||408|296||704|
||Religious Education support funds|||||177|||177|
||Appeal
funds
&
other||specific|||2|41||43|
||purposes|||||||||
||||||105,588|22,858|2,851|(572)|130,725|
||Total funds||||156,396|40,486|15,570|(8,367)|204,085|
##
||||||||||
|---|---|---|---|---|---|---|---|---|
|2020||||Fixed Assets||Current||Net|
|||||Tangible|investments|Assets|Creditors|Assets|
|||||E'000|E'000|E'000|E'000|E'000|
|Unrestricted
funds —General||||46,046|4,698|2,930|(4,615)|49,059|
|Unrestricted
-designated|||||||||
|Archdeacons
Discretionary|||||14|1|(3)|12|
|Ingrow Fund||||||28||28|
|Mission Fund||||||621||621|
|Carbon Reduction
Fund||||||300||300|
||||||14|950|(3)|961|
|Restricted|||||||||
|Section 554 Education||||240|5,636|953||6,829|
|Clergy &Dependants|hardship||||49|35||84|
|funds|||||||||
|Bradford Summer Camps||||||1||1|
|Local Educational
Funds|||||12|21||33|
|Retreat House support funds||||||31||31|
|Local Parochial purposes||funds||||13||13|
|Appeals &specific purposes||||||75|(3)|72|
|Church
building
repair|funds||||367|13|(21)|359|
|Pastoral Account||||2,781|2,565|943||6,289|
|Managing
Trustees||||||51||51|
|lnglefield
funds|||||1,273|329||1,602|
|Training for ministry
funds|||||753|62||815|
|Strategic Development||Funds||||6A||64|
|Schools LCVAP Building||Programme||||3,662|(3,662)||
|||||3,021|10,655|6,253|(3,686)|16,243|
|Endowment|||||||||
|Permanent|||||||||
|Stipends fund capital||||4,219|12,719|237|(1,108)|16,067|
|Expendable|||||||||
|Benefice houses||||89,906||1,554||91,460|
|General Purposes||||||212||212|
|Maintenance
of Ministry|||||1,109|1||1,110|
|Glebe Property||||16,040||1237||17,277|
|Pensions|||||100|||100|
|Training for Ministry|||||111|||111|
|Clergy &Dependants|hardship||funds||881|311||1,192|
|Local Educational
Funds|||||97|1||98|
|Local Parochial
purposes||funds|||353|188||541|
|Glebe Land|||||4,616|181||4,797|
|Church
building
repair|funds||||357|277||634|
|Religious Education support funds|||||154|||154|
|Appeal
funds
&
other|||specific||2|41||43|
|purposes|||||||||
|||||110,165|20,499|4,240|(1,108)|133,796|
|Total funds||||159,232|35,866|14,373|(9,412)|200,059|
|23.|DESCRIPTION OF|DESCRIPTION OF|DESCRIPTION OF|FUNDS||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||Funds included
in|||this||
||Fund category||||Purpose||||category|||||
||General|fund|||The general
fund isthe|LDBF's unrestricted||||||||
||||||undesignated
fund available for any|||ofthe||||||
||||||LDBF's purposes without||restriction,|||||||
||Archdeacons||||Represents
grants received set aside|||to be used||||||
||Discretionary||Fund||at the discretion ofArchdeacons.|||||||||
||Ingrow|Fund|||Funds from the bequest|of Nora Curry left for||||||||
||||||the benefit ofthe parish||of Ingrow.|||||||
||Mission|Fund|||Funds to support future|SDFprojects||and the||||||
||||||creation ofa Parish Growth
Fund.|||||||||
||Carbon|Reduction||Fund|Funds to enable adjustments
to our buildings|||||||||
||||||that reduce their carbon|footprint||||||||
||Section|554|||Established
under S86of||the Education
Act|||||||
||||||1993.Capital monies to|develop or build new||||||||
||||||or existing voluntary
aided schools or maintain|||||||||
||||||such schools or contribute||to educational|||||||
||||||purposes.|||||||||
||Clergy and dependents||||Funds to provide relief of||clergy and their||Clergy Stipend Trust, Clergy|||||
||hardship|funds|||dependents
in financial|hardship.|||Widows|and Dependents,||||
||||||||||Queen Victoria Trust, Leeds|||||
||||||||||Diocese|Charitable|||Society|
||||||||||Trust, Aid||to Parish||Clergy,|
||||||||||Widows,||Clergy Retirement,|||
||||||||||Education||Grants|||
||Bradford|Summer|||Funds to provide support||to children|&youths||||||
||Camps Bursary||||to enable them to attend||summer
camps in|||||||
||||||cases offinancial
hardship.|||||||||
||Local educational|||funds|For educational
purposes||in the areas|named|Shipley|curn Heaton|||District|
||||||||||CofE School Trust,|||Keighley St||
||||||||||Peter Educational
Trust|||||
||Retreat House||support||Support towards the Diocesan Retreat House||||Friends|of Parcevall|||Hall,|
||funcls||||||||Parcevall||Hall Bursary|||
||Local Parochial||||For general parochial
purposes
in the|||area|North Wing Mission,||||Guiseley|
||purposes|funds|||named.||||Carleton,||Keighley|All Saints||
||||||||||McNish|||||
||Appeals|and special|||Funds comprise donations||received for specific||Interfaith||fund, Youth|||
||purposes|funds|||appeals and purposes,
including
work|||in Links|Evangelism,
Special||||Appeals,|
||||||Dioceses.||||Northern||Sudan,
Kadugli|||
||||||||||Appeal,|Church
in the World,||||
||||||||||TM Wright Sudan relief, St|||||
||||||||||Martin
in||the Field,|||
||||||||||Duker {deafministry)|||||
##
|Fund category|Fund category|Fund category|||Purpose|Funds included|Funds included|Funds included|Funds included|in this|in this|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||category||||||
|Church||building||repair|For repairs to churches ofthe Evangelical|The First||Lord Grimethorpe||||
|funds|||||tradition
in the Church of England
within the|Charity,||Church||building||
||||||Diocese.|fund, Harrogate|||||Churches,|
|||||||Church|Building||||Repair, Davy|
|||||||bequest||||||
|Strategic Development|||||Funds major change projects which lead to a|||||||
|Funds|||||significant
difference
in dioceses' mission and|||||||
||||||financial strength.|||||||
|Strategic Ministry|||||Provides financial support for growth
in the|||||||
|Funds|||||number ofclergy by funding
curates|||||||
|Clergy|$.Iay stipend||||Funds for the augmentation
ofclergy and lay|||||||
|augmentation|||||stipends|||||||
|Pastoral||Account|||This fund includes the proceeds of buildings|||||||
||||||closed for regular public worship,
parsonages|||||||
||||||and land sales. The purpose for which this|||||||
||||||account may be used are laid down
in Section|||||||
||||||94ofthe Pastoral Measure 2011.|||||||
|Inglefield|||||Created from sale ofDiocesan Retreat House at|||||||
||||||Barrowby,
and assets transferred
from the|||||||
||||||Booker Bequest. Income used to aid Diocesan|||||||
||||||Synod, conferences
and theological
courses.|||||||
|Training||for ministry|||Income used towards cost oftraining|Resourcing|||Ministerial|||
||||||ordinands.|Education|||(RME)|||
|General||purposes||and|Funds from bequests to be used to support|||||||
|administration|||||administration
and general
purposes|||||||
|Maintenance
of|||||Funds from bequests to be used to support|||||||
|ministry|||||stipends
in specific parishes|||||||
|Pensions|||||Funds from bequests to be used
in supporting|||||||
||||||clergy pensions.|||||||
|Funds to provide|||||Funds to support the provision
of loans to assist|||||||
|church|building||repair||major works to be carried out on church|||||||
|loans|||||buildings.|Loan fund,|||Kiddle||Bequest|
|Stipends||Fund Capital|||The income ofthe fund can only be used for|||||||
||||||clergy stipends
(but since 1993capital can be|||||||
||||||used for improvements
to parsonage
houses)|||||||
||||||and is governed
by the Diocesan Stipends|||||||
||||||Measure 1953.|||||||
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|||Dec2021|Dec 2020|Dec2019|
|---|---|---|---|---|
|Discount rate||0.0%pa|0.2%pa|1.1%pa|
|Price inflation||n/a|3.1%pa|2.8%pa|
|Increase to total pensionable|payroll|-1.5%pa|1.6%pa|1.3%pa|
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|||||2020|
|---|---|---|---|---|
|Balance sheet liability at|1January||691,000|978,000|
|Deficit contribution
paid|||(258,000)|(309,000)|
|Interest cost (recognised|in SoFA)||1,000|9,000|
|Remaining
change to balance sheet liability*(recognised||in SoFA)|(265,000)|13,000|
|Balance sheet liability at|31December||169,000|691,000|
##
|has been valued
using the following
payments:|assumptions,
set by ref|erence to the duration
o|f the deficit recovery|
|---|---|---|---|
|Discount rate|December 2021|December 2020|December 2019|
|Leeds DBF(Bradford) DBS|0.00'/o|0.30/o|1.20/o|
|Leeds DBF(Bradford 5 Ripon||||
|Education Team) DBS|0.00/o|0.30/o|1.20/o|
|Leeds DBF (Wakefield)
DBS|1.309o|0.30/o|1.20/o|
|Leeds DBF(Ripon 5 Leeds) DBS|0.009o|0.30/o|1.20/o|
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