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2020-12-31-accounts

ANNUAL
REPORT
For the year ended 31December 2020
TABLE OF CONTENTS Page Number
Mission Statement
Legal Objects
Strategic Report:
Strategic Aims 4
Objectives for the year 4
Activities
and Achievements		 in the year 5
Future plans 16
Financial
review		 17
Principal
risks and uncertainties		 21
Structure
and Governance		 22
Trustees'
Responsibilities		 27
Administrative
details		 29
Independent
Auditor's
Report		 31
Statement
of FinancialActivities		 35
Income and Expenditure
Account		 36
Balance Sheet 37
Cash Flow Statement 38
Notes to the Financial Statements 39-76

Funds at 31 Total
December Proportion Income yield Return
in
2020 of Portfolio in year year
E'000s
CCLA Managed
CBF Investment Fund 502 1.30% 2.96%o 9.77%
M&G Managed
Charifund 13,176 34.14% 3.84% 135%
Charibond 25 0.07% 2.29% 2.29%
Charles Stanley Managed 9,568 24.79% 2.62% -24.359o
J M Finn Managed 7,273 18.84%o 3.14% 2.33%
Cazenove 8,051 20.86% 2.339o 4.27%
38,595 100.00%

he Trustees met four times during the year.
Meetings Attended
TI'Ustee ivTrustee for part ofyear)
The Rt Revd Dr Martin
Warner
The Rt Revd Richard Jackson vU
The Rt Revd Will Hazlewood «2
The Rt Reed Ruth Bushyager 3
The Very Revd Stephen Waine 2
The Ven Martiu Lloyd Williams
The Ven Lul,e Itvine-Carvel 3
The Ven Dr Edkvard Dowier 3
The Ven Fionn Windsor vU
Mr Philip Bovvden *I
Mrs Lesley
Lvnn		 4
Revd Canon lvlark ciilbert 4

Forthe year ended Forthe year ended
Mr Jolm Booth
Revd Canon Ann Waizeneker
Revd Canon Julia Peaty
Revd James Hollingsworth
Revd Canon David Twinley
Revd Philip Coekin
Revd Martin King
Mr Martin Cruttenden
Mrs Ivlilly Murphy
Mr Bradley Sruith
Mr Jacob Vince
Miss Alison Merchant
Mrs Valerie Burgee~
Mrs Lesley Webster
Mrs Sara Stonor

Unrestdcted Funds Restricted Restricted Endowment Endowment Total Funds Total Funds Total Funds
General Designated Funds Funds 2020 2D19
Note E'000 f000 E'000 E'000 E'000 E'000
Income and endowments from
Donations
Parish share 3a 13,120 13,120 13,954
Other donations 3b 256 651 668 1,575 815
Charitable
activities		 4 690 121 811 868
Otheractivities 5 477 10 487 456
Investments 6 632 1,085 1,717 2,182
Other 7 6 115 121 185
651 1,999 17,831 18,460
Expenditure
on
Raising Funds 8 76 83 159 458
Charitable
activities		 9 15,365 122 2,008 53 17,548 16,360
15,441 122 2,091 53 17,707 16,818
Net income/(expenditure) before
investment
gains/(losses)		 ( 260) 529 ( 92) ( 53) 124 1,642
Unrealised
gains on investments		 15 ( 13) 73 1,212) ( 2,265) ( 3,417) 5,532
Realised gains on investments ( 2l 278 - 240 ( 520) 274
Net gains/[losses)
on investments		 ( 15) 73 ( 1,490) ( 2,505) ( 3,937)
Net Income/(expenditure) ( 275) 602 ( 1,582l ( 2,558) ( 3,813) 7,448
Transfer between
funds		 525 50 ( 610) 35
Other recognised gains/(losses)
Gains((losses)
on revaluation		 of
fixed assets 14 ( 320) ( 35l 1,495 1,140 2 223
Net movement
in funds		 250 332 ( 2,227) ( 1,028) ( 2,673) 9,671
Total funds brought forward 6,342 22,101 252,018 285,949 276,278
Total funds carried forward 19 5,738 6,674 19,874 250,990 283,276 285,949

Forthe year ended 31 December 2020
Total Total
2020 2019
6'000 6'000
Total incoming resources
Resources expended
Operating
surplus/(deficit)
Net gains on investments
Net gain/(loss) forthe year		 for the year 17,831
~17,654
177
( 1,432)
( 1255)		 18,456
~16,818)
1,638
2,857
4495
Other comprehensive
income:
Revaluation
offixed assets
Total comprehensive
gain/(loss)		 (1,255) 4,495

ANCE SHEET
he year ended 31December 2020		 ANCE SHEET
he year ended 31December 2020
Company
Number
-00133558		 2020 2019
Note E'000 E'000 E'000 E'000
FIXEDASSETS
Tangible assets 14 229,543 229,454
Investments 15 43,703 49,801
273,246 279,255
CURRENT ASSETS
Assets held for resale
Debtors 16 3,237 2,765
Cash on deposit 5,171 2,146
Cash at bank and in hand 8,274 6,752
16,682 11,663
CREDITORS: amounts falling due
within one year 17 (6,269) (3,804)
NET CURRENT ASSETS 10,413 7,859
TOTAL ASSETS LESSCURRENT
UABILITIES 283,659 287,114
CREDITORS: amounts falling due
after more than one year
Pension scheme liabilities (383) (1,165)
283,276 285,949
FUNDS
Endowment
funds		 250,990 252,018
Restricted Income funds 19,874 22,101
Unrestricted
income funds
General funds 5,738 5,488
Designated
funds		 6,674 6,342
TOTAL FUNDS 19/20 283,276 285,949

2020 2019
6'000 6'000 6'000 6'000
Net cash outflow from operating
activities (see below)		 ( 457) (5,111)
Cash flows from Investing
activities
Dividends
/ Interest and rent from Investments		 1,717 2,182
Proceeds from the sales of.
Ta ngIb IefIxed as sets
Fixed assets Investments		 3,099
4,801		 5,822
2,938
Purchase
afi
Tangible fixed assets (1,971) (442)
Fixed assets Investments (2,642) (2,027)
Net Cash provided
by Investing		 5,004 8,473
actMtles
Cash flows from financing
activities
Loans (repaid) 30
Net cash used In financing
aaivities 30
Change
in cash and cash equivalents		 in the reporting period 4,547 3,392
Cash and cash equivalents
at 1		 January 8,898 5,506
Cash and cash equivalents
at31December
Analysis
of Cash and Cash equivalents
Cash in Hand		 8,274 6,752
Notice deposits (less than 3 months) 5,171
13,445		 2,146
8,898
Reconclgation
ofnet movements
In		 funds ta net cash flow from operating activities
Net income before investment gains 124 1,642
Ad)ustments
for
(Gains) on the disposal
of fixed
Depreciation
charges
Investment
income		 assets ( 115)
34
(1,717)		 ( 31)
35
( 2,182)
Change
in value ofValue Linked Loans
(Increase)in
Debtors
Increase/(Decrease)
in Creditors		 6
(472)
1,683		 (352)
(4,223)
Net Cash used in operating activities (457)
(gb)s)

unrestricted
Funds		 Restrlaed Endowment Total Funds Total Funds
General Oeslgnated Funds Funds 2020 2019
8'000 E'000 E'000 E'000 E'000 8'000
Current Year pledges 14,010 14,010 13,999
Shortfan in contributions (978) (978)
13,032 13,032 13,818
Receipts for previous year 88 88 138
Total income 13,120 13,120 13,934

Unrestricted Funds Funds Restricted Endowment Total Funds Total Funds
General Designated Funds Funds 2020 2019
E'OM E'MO E'OM 6'000 E'000
All Churches TrustGrant 122 50 172 171
Archbishops
Council		 16 600 93 709 170
RME Block Grant 568 568 419
Grants from other
organisations 103 103
Donations 15 I 7 23 46
256 651 668 1575 815
4. CHARITABLE ACTIVITIES
Unrestricted Funds Restricted Endowment Total Funds Total Funds
General Designated Funds Funds 2020 2019
E'000 E'000 E'000 E'000 E'000 E'000
Statutory fees for
parochial
services		 468 468 560
Church Commissioners'
gua ra nteed a nnui ties 13
Parish trust Income 110 110 93
Generated
Income		 27 27 83
Church Schools Training
&other 195 195 119
690 121 811 868

Unrestrkted Funds Restricted Endowment Total Funds Funds Total Funds Total Funds
General Designated Funds Funds 2020 2019
6'000 E'000 E'000 E'000 E'000 E'000
Rents receivable -Properties 477 10 487 456
477 10 456
TMENT INCOME
Unrestrkted Funds Restriaed Endowment Total Funds Total Funds
General Designated Funds Funds 2020 2019
E'000 E'000 E'000 E'000 E'000 E'000
Dividends receivable &
interest receivable 632 835 1,467 1,925
Rents receivable - Glebe 250 250 257
632 1,085 1,717 2,182

Unrestricted Funds Restricted Endowment Total Funds Total Funds
General Designated Funds Funds 2020 2019
E.'000 E'000 E'000 E'000 E'000 E'000
Other income 6 154
Gain/(Loss) on sale of
property 115 115 31
115 121 185

Unrestrkted Funds Restrkted Endowment Total Funds Total Funds
General Designated Funds Funds 2020 2019
6'000 E'000 E'000 E'000 E'000 E'000
investment Manager fees 72 71 143 147
Glebe repairs &
improvements 12 16 311
76 83 159 458

Unrestricted Unrestricted Funds Restricted Endowment Total Funds Total Funds
General Designated Funds Funds 2020 2019
E'000 E'000 E'000 e000 E'000 E'000
Contributions
to
Archbishops'
Coundl
Training for Ministry 632
National
Church
Responsibilities 475 475 502
Grants and Provisions 53 53 54
Mission agency pension costs 23 23 7
Retired clergy housing costs 227 227 216
Pooling ofordinands
maintenance
grants		 (82) (82 38
1,328 1,328 1,449
Unrestricted Funds Restricted Endowment Total Funds Total Funds
General Designated Funds Funds 2020 2019
E.'000 E'000 E'000 E'000 E'000 E'000
Resourclng
Ministry		 and
Mission - Parish Ministry
Stlpends
and National
Insurance 6,567 53 7,390 7,574
Pension contributions 1,710 1,710 1,736
Defined benefit pension
scheme movement (see Note 26) (35) (35) (2,614)
Housing costs 2,061 179 2,240 3,017
Mission
Fund grants		 122 121
Removal, resettlement &grants 235 235 231
Clergy welfare
Ministry Suppon		 19
223		 130
2		 149
225		 186
230
10,780 122 1,681 53 12,036 10,481

Unrestricted Unrestricted Funds Restrfcted Endowment Total Funds Total Funds
General Designated Funds Funds 2020 2019
E'000 F.'000 E'000 E'000 E'000 E'000
Resourdng
Ministry		 and
Mission
-support		 for Parish Ministry
Ordination
Training		 567 573 1,140 1,188
Adult Education 78 7 85 120
Children
and youth		 work 101 101 172
Apostolic Ufe 174 174 257
Common
Good		 8 8 33
Safeguarding 319 319 229
Diocesan Advisory
Committee		 78 78 81
Pastoral
and Redundant
Churches uses 50 45
Redundant
churches		 132 132 104
Communications 92 92 108
Chaplains
Mission proiects (SDFI 120 120 117
Chancellor &Registrar 81 81 69
Grants 67 219 223
1,747 852 2,746
Support and Governance
for pansh
mimstry		 (note 10)
2 441 3,293 3,558
Resourcing
Ministry		 and
Mission - Church Schools
Church Schools department 728 75
Support and Governance
for Church Schools (note 10l
816 891 872
Total Charitable
activities		 15,365 122 2,CDB 53 17,548 16360

Resourclng ministry
and mission Education
Support for Church Total Funds Total Funds
Ministry Sdt on la 2020 2019
E'000 E.'000 F.'000 E'000
Support
Central serwces department 158 20 178 181
General officedepartment 205 26 231 275
Finance department 179 23 202 212
iTdepartment 102 13 115 158
Depreciation 30 4 34 35
674 86
Governance
External Audit 20 22

OTES TO THE FINANCIAL STA
rthe year ended 31 Decem		 TEMENTS (con
ber 2020		 tintfed)
11.ANALYSIS DF GRANTS MADE
Total Funds Total Funds
Individuals Institutions 2020 2019
Number E'000 f.'000 f.'000 6'000
From unrestricted
funds for		 national
church responsibilities:
Contributions
to Archbishops'		 Council 1,328 1,328 1 449
From unrestricted
The Chichester Diocesan Association for
Family Support Work 1 36 36 36
Togetherin
Sussex		 1 4 4 10
St Bartz Trust- Youth work 1 19 19 19
Clergy Training 27 8 12
Clergy Moves
Other organisatons		 47 234 231
11
242 59 301 319
From designated
PCCs for Mission projects 12 90 90 121
The Chichester
Diocesan Association for Fami		 1 15 15
Other Organisations
for Mission projects		 1 16 16
Individuals
for Mission projects		 1 1 1
1 121 122
From restricted
PCCs for Mission projects 9 240 158
Clergy and families for Welfare
Overseas mission agencies		 110
4		 62 9 62
9		 75
13
Aided Schools 3 69 69
Ordinands
in training
AD Care of Churches		 59 511 511 553
4
Other organisatons 26
573 318 891 829
Totals 283 816 1,826 2,642 2,718

2020 2019
f'000 f'000
Employee costs during the year were as follows:
Wages and salaries 1,874 1,881
National
insurance		 contributions 193 186
Pension costs 290 259
2,357 2,326
The average number ofpersons employed by the group during the year: 2020 2019
Number Number
Administration and financial management 21
Apostolic Life 14
Common
Good
Property
Education
- Church		 Schools 14 13
Safeguarding
g		 inclusion 7 6
63
The average number ofpersons employed by the group during the year. 2020 2019
based on full-time equivalents: Number Number
Administration and financial management 18 22
Apostolic
Ufe		 13 11
Common
Good
Property 7
Education
- Church		 Schools 10 10
Safeguarding
&		 inclusion 5 4
53
2020 2019
Number Number
The numbers
of		 staff whose emoluments (Including benefits in kind but excluding
Pension contributions)
amounted		 to more than f60000were asfollows:
E60,001 - f70,000
f70,001 - f80,000

Stipend Housing
The Right Revd
R Jackson (to 7/1/20)		 No Yes
The Right Revd R K F Bushyager (from 15/7/20) No Yes
The Right Revd W P G Hazlewood (from 15/7/20) No Yes
The Venerable
L irvine-Capel		 Yes Yes
The Venerable
F Windsor (to 31/7/20)		 Yes Yes
The Venerable
M Lloyd-Williams		 Yes Yes
The Venerable
E Dowler		 Yes Yes
The Revd Canon
PM Gilbert		 Yes Yes
The Revd A Waizeneker Yes Yes
The Revd J Hollingsworth Yes Yes
The Revd D Twinley Yes Yes
The Revd P Caekin Yes Yes
The Revd M King Yes Yes

2020 2019
f'000 f'000
Stipends 6,816 6,991
National insurance contributions 576 581
Pension costs - current year 1,710 1,742
Pension costs - deficit reduction contributions paid 741 752
9,843 10,066

Unrestricted Funds Restricted Endowment
General Designated Funds Funds
6'000 6'000 6'000 6'000
Transfer of net proceeds from sale of
redundant parsonages
Movement on defined benefit pension
scheme (35) 35
Administration charge —Aided Schools fund (48)
Mission Fund 50 (50)
Pastoral Fund transfer - housing costs 512
525 35

Freehold Leasehold Office
Land Property Equipment Total
f'000 colm f'000 f'000
At 1January 2020
Additions		 228,746
1,973		 573 699
(2)		 230,018
1,971
Dlsposals (2,988) 2,988
Reclassification
Revaluation (320 1,140
At 31December 2020 229,191 253 697 230,141
Depreciation
At 1ianuary 2020
Disposals
Charge forthe year
At 31December 2020		 598 34
598
Net BookValue
At 31December 2020 229,191 253 99 229,543
At 31December 2019 228,746 573 135 229,454

At Change
In		 At
11anuary Market 31December
2020 Additions Disposal Transfer Value 2020
6'000 6'000 6'000 6'000 6'000 6'000
Unrestricted Funds
Usted investments 126 4 (15) (12) 103
Unlisted
investments		 5 0 5
Investment property 588
719		 4 ~15 73
61		 661
769
Restricted Funds
Listed investments 20,330
20,330		 1456
1,456		 ~2,494)
~2,494)		 ~1,2I2)
~1,222)		 18,080
18,080
Endowment Funds
Listed investments 24,313 1,181 (2,814) (2,265) 20,415
Investment property 4,439 0 4,439
28,752 1,181 ~(2,814 ~(2,265 ~24 854
Tota
I		 49,801 2,641 ~(5,323 ~3,416 43 703

Concessionary
(interest free) loans to Parishes		 446 441
Loans to Parishes 985 1,015
Loans to Schools 368 434
Other Debtors and pre payments 1,438 875
3,237 2,765
Induded
within the above are debtors amounts		 due after
more than one year asfollows:
Loans to Parishes

2020 2019
E'000 E'000
Loans due in one year
Church Commissioners value-linked loans 1,721 1,727
Deferred income
Payments
received
in advance from Education		 Funding authority 2,119
Loan repayment
instalments		 due in less than one year
Central
Board of Finance other loans		 100
Other Taxes and social secunty 2 45
Other creditors and accruals 1,927 635
Clergy Pension Scheme 500 500
6,269 3,804

2020 2019
E'000 E'000
Pension Scheme liabilities (see note 24)
Clergy
Church		 Pension
Workers		 Scheme
Pension		 Scheme - DBS 352 1,128
31 37
383 1,165

Balances et Balances at
1January Gains and 31December
2020 Income Expenditure Transfer Losses 2020
E'000 E'000 E'000 E'000 E'000 E'000
UNRESTRICTED FUNDS
General		 5,488 15 181 ~(15,441 525 ~15 5 738
Designated
Funds
Property
Parish Mission
Other designated		 funds 6,086
241
6 342		 50
601
651		 (121)
~1)
~122		 50
50		 (247)
~247		 5,839
220
615
6,6/4
Restricted
Funds
Diocesan Pastoral
Diocesan Stipend
CIergy WeIfare		 15,071
1,170		 952
/8		 (122)
(952)
(83)		 (650) (1,252)
(87)		 13,047
1,078
Clergy Welfare (8
Jenklnson
Trust		 Wild) 940
19		 23
2		 (62)
0		 (35) 866
21.
Training 30 (30)
University
chaplaincy		 1 0 39
Hayl far trust /8 3 0 81
Poling endowment 18 25 0 43
The Arnold Bequest 40 14 (18) 36
Clergy Widows 27 (4) 23
SDF 93 (181)
RME
Archdeacons'loans		 (46)
1,849		 568
31		 (546)
(3)		 (53) (24))
1,824
Aided Church Schools
Diocesan Overseas Council
Other restricted
funds
Endowment
Funds		 2,713
114
69
22,101		 173
2
4
1,999		 (74)
(9)
~7)
~2,091		 (48)
~(610		 (98)
~1,525		 2,666
107
66
19,874
~ex endable
Parsonage/Benefice
Diocesan Stipends		 houses 180,313
59,038		 (53) 35 ().259)
1,020		 179,054
Clergy Welfare 2,365 (258) 2,107
Elfinsward 2,321 (254) 2,067
Terry's Cross 5,167 5,167
Permanent
Jenklnson 50 (6) 44
Training 943 ( 102) 841
University
chaplaincy		 663 (3) 660
Hay
lfar trust		 77 (8) 69
Poling endowment
The Arnold Bequest		 669
412
252,018		 (53) 35 (95)
~(45
(1,010)		 574
367
250,990
Totalfunds 285,949 17,831 ~17,707) (2,/97) 283,276

Fixed asset Current Net
Tanglkde
E'000		 Investments
E'000		 Assets
F.'000		 Creditors
E'000		 Assets
E'000
UNRESTRICTED FUNDS
General		 98 101 6,467 ~928) 5,738
Designated
Funds
Property
Parish Mission
Other designated
funds		 5,193
5,193		 (15)
220
609
814		 5,839
220
615
6,674
Restricted Funds
Diocesan Pastoral
Clergy Welfare
Clergy Welfare (8 Wild)
Jenklnson
Trust
University
chaplaincy
Hayllar trust
Poling endowment
The
Arnold
Bequest
Clergy Widows		 1,153 15,399
676		 (2,351)
1,336
190
21
39
81
43
36
23		 (1,411) 13,048
1,078
866
21
39
81
43
36
23
SDF
RME
Archdeacons'
loans		 891 (24)
933		 24
1,824
Aided Church Schools
Diocesan Overseas
Council		 1,109 5,018
107		 (3,461) 2,666
1.07
Other restricted
funds		 1,153 18,079 62
5,514		 — 4,872 66
19,874
Endowment
Funds
Parsonage/Benefice
houses
Diocesan Stipends
Clergy Welfare
Elfinsward
Terry's Cross		 172,007
45,294
5,167		 19,261
1,911
1,876		 7,047
(3,663)
196
191		 (852) 179,054
60,040
2,107
2,067
5,167
Permanent
lenkl nson
Train/ng
University
chaplaincy
Hayllar trust
Poling endowment
The Arnold Bequest		 631
223,099		 43
764
26
64
572
339
24,856		 1
77
3
5
2
28
3,887		 ~852) 44
841
660
69
574
367
250,990
Total funds 229,543 43,703 16682 (6,652) 283,276

Balances m 8
I
e		 at
1January
2019
E'000		 Incom
E'000		 E
6'		 pa
dlture
000		 Tra
6'000		 f Gains and
Lo
E'OOO		 310 ca
2019
E'OOO		 her
UNRESTRICTED
General		 FUNDS 4641 ~26 142 13075 2 557 337 ~5488
Desi gnat
d F
d
P op
Parish Mission
Oth
de Ignated		 f d 6,086
242
31		 SO ( 1.21.) 6,086
241
15
6359 121 6342
8 stdGad Funds
Dioces
P
to
Dfoc
Stlp
Clergy Welf
Clergy Welf
Jenklnso
T
t
Tr
I
Ing
Llnlverslty
ch
pl		 d
(8		 Wild) 12,553
1,109
900
1.8
37		 1,141
133
29
2
46
1		 (
(
(
(
(
(		 1,519)
1,141)
72)
85)
1)
46)		 1,876 2,161 15,071
1,170
94O
19
38
H
yfi
trust		 74 4 78
Poll g
ndowm
t
lh
A
old Bequest		 9
40		 31
18		 (
(		 22)
18)		 18
CI
gy Widows		 45 ( 18) 27
SDF
RME
Archdeaco
Aided Chu
h 5
Diocesan Ove s
Other restrict
d		 hool
Coun
f
d		 ( 9)
1 703
2,415
117
88
170
419
37
210
9
14
J.9 1CO ~2264		 (
175)
(
456)
(
(
21)
(
12)
~33
3622		 (
42)
~1839		 112
151
~2520		 46)
1,849
2,713
114
69
22 101
E do
ent Funds
~Ex
d
hi
P
r o
g /8
Diocesan Stfp
Clergy Welf
Elfl		 flcehou
d		 180,473
53.935
2,056
2,018		 ( 1,951)
2,615		 1,787
2,488		 180,313
59,038
2,365
2.321
T
/
Cross		 5,167 5,167
P
J
ki		 44 6 50
Training
University
ch
pl		 Incy 820
659		 123
4		 943
663
H
yfl sr trust		 1.0
PoBng endowm t 581. 88 669
Th
A
old Bequest		 358 412
246.178 5 172 ~252 018
Tot If
ds		 276 278 18460 16818 8,029 ~285 949

Fixed assets Current Current Net
Tanglttle
e000		 Investments
F.' 000		 Assets
6'000		 Creditors
E'000		 Assets
6'000
UNRESTRICTED FUNDS
General		 125 5 876 ~647 5 488
Designated
Funds
Property
Parish Mission		 5,513 589 ( 1.6)
241		 6,086
241
Other designated
funds		 5,513 5 10
235		 15
6,342
Restricted
Funds
Diocesan Pastoral
Clergy Welfare
Clergy We Ifare
( 8 Vi/ i Id )
Jenkinson
Trust		 1,543 17,414 ( 2,343)
1,355
192
19		 ( 1,727) 15,071
1,171
940
19
University
chaplaincy
Hayl lar trust
Poling endowment
The Arnold Bequest
Clergy Widows		 38
78
18
40
27		 38
78
18
40
27
SDF
RME ( 46) ( 46)
Archdeacons'
loans		 957 892 1,849
Aided Church Schools 1,207 2,473 ( 967) 2,713
Diocesan Overseas
Council		 114 114
Other restricted
funds		 65 69
1,543 20,330 2,922 ( 2,694) 22,101
Endowment
Funds
Parsonage/Benefice
houses
Diocesan Stipanda
CIergy WeIfare
Elflnsward		 174,012
42,454		 21,992
2,322
2,279		 ( 6,301
3,780)
43
42		 ( 1,628) 180,313
59,038
2,365
2,321
Terry's Cross 5,167 5,16/
Permanent
Jenk Inson 51 ( 1) 50
Training
University
chaplaincy
Hayllar trust
Poling endowment
The Arnold Bequest		 631
222,264		 926
31
76
668
40'7
28,752		 17
1
1
1
5
2,630		 ~1,628) 943
663
77
669
41.2
252,018
Total funds 229,454 49,801 11,663 ~4,969) 285,949

Forthe year ended 3 Forthe year ended 3 Forthe year ended 3 1December 2020
23.DESCRIPTION OF FUNDS
General The general
fund
is the CDBF's unrestricted
undesignated
fund available		 for
any ofthe CDBF's purposes.
Property The fund value
is set at the level equivalent
to the net book value ofcorporate
properties.
Church
House, Hove and various houses used by retired clergy		 make
up the value ofthis fund.
Parish Mission Fund made available
from the AIIChurches
Trust and diocesan sources to
support
parish
mission projects throughout
the Diocese.
Other Designated Funds The majority ofthese funds represents
a grant received from the Church
Commissioners
to meet the costs of two additional
curates to be ordained		 in
2021 and a Parish Development
Officer role.
Diocesan Stipends The diocesan stipends
capital fund has been created from the diocesan		 stipends
fund capital account assets held under the Church
Property Measure 2018		 to
provide
income for clergy stipends.
It represents
glebe property,
accumulated
sale proceeds ofglebe property,
and sale proceeds ofsome benefice houses
and surplus
benefice endowments
following
pastoral
reorganisation.
Capital
funds may be used for the purchase,
improvement
and maintenance
of		 glebe
property
and benefice houses.
Clergy Welfare Fund is governed
by a 1993Charity Commission
scheme with income being
used for the welfare of clergy, their spouses or other licensed staff who
work or have worked
in the diocese.
Clergy Welfare (B Wild) Fund derives from the sale of a property,
Lapwings,
bequeathed
for
purposes connected
with clergy welfare.
The fund
is used for the clergy
wellbeing
service.
Clergy Widows Fund represents
a legacy from Charles Peckham to provide financial
grants		 or
other benefits for widows ofthe clergy.
University Chaplaincy Fund is governed
by a trust deed dated 21July 1961.The fund
isto
provide
a house for the University
ofSussex chaplain
and to assist that
chaplain
in the fulfilment
of his/her
duties.
Jenkinson Trust Fund represents
a legacy from William Jenkinson.
Income from the fund		 is used
for necessitous
Church of England
gentlewomen
or as the diocesan
fund		 finds
most fitting.
Hayllar Trust Fund represents
a legacy from Sidney Hayllar.
Income from the fund
is used to
help clergy with personal costs such as education
and personal
support		 and
general
financial
problems,
Poling Endowment A fund to be used for the welfare of clergy and their families
in need or
hardship,
serving,
in training
or retired, ofthe Diocese of Chichester.

NOTES TO THE FINANC
Forthe year ended 3		 NOTES TO THE FINANC
Forthe year ended 3		 IAL STATEMENTS (continued)
1December 2020		 IAL STATEMENTS (continued)
1December 2020
23.DESCRIPTION OF FUNDS (continued)
Archdeacons' Loans The fund arose from three gifts and the proceeds of a fundraising
campaign.		 The
accumulated
income
is used to make interest free loans to parishes to help fund
repairs to churches
and church
halls.
Aided Church Schools The Aided Church Schools Fund represents
the accumulated
sale proceeds of
redundant Church of England School properties.
Its use is
restricted by Section 287(2) ofthe Education
Act 1993to capital and
maintenance
work of Church of England
schools in the diocese and
education generally
at Church of England
schools in the diocese, The CDBF is
trustee ofthese funds, which are managed
in consultation
with the Diocesan
Board of Education.
Diocesan Overseas The fund comprises the net income raised after grants made by the Diocesan
Council Overseas Council. The Council promotes
the Diocesan interest
in, support for
and engagement
with mission work ofthe churches ofthe Anglican
Communion
in co-operation
with the Church of England's
Partnership
for World Mission
accredited
mission agencies and partners.
It raises funds mainly
by way ofthe
Harvest Appeal each year and in reaction to world
mission appeals and projects.
Diocesan Pastoral The diocesan pastoral
account was set up under the provisions
ofthe
Pastoral Measure 1983.The restricted
purposes
for which the account may		 be
used are;
~ to defray costs incurred for the purposes
ofthe Measure or any
scheme or order made under the Measure except for salaries of
regular diocesan employees.
~ to make loans or grants for the provision,
restoration,
improvement		 or
repair of churches
and parsonage
houses
in the diocese.
~ other purposes
ofthe diocese or any benefice or parish
in the diocese
~ to make grants or loans to any other diocese
~ to transfer funds to the diocesan stipends
fund income or capital
accounts.
Strategic Development The Diocese has been awarded
funding from the Church
Commissioners
Fund towards three parish based mission projects
in the Diocese. The funds
received are restricted to be used on these projects.
RME Block Grant A restricted
grant received from Ministry
Division to be used to meet the
costs of ordination
training.

Parsonage/Benefice The parsonage/benefice
property
fund consists of resources restricted to		 The parsonage/benefice
property
fund consists of resources restricted to
Houses provision of benefice houses
in the diocese. They are represented
by the
benefice houses or by sale proceeds offormer benefice houses.
Although
benefice
houses are vested
in the incumbents
for the time being ofthe beneflces concerned,
the CDBF is obliged to maintain
them, and to ensure that there are sufficient
benefice houses for the pastoral structure ofthe diocese;
where a benefice house
is no longer required
then
it is usually transferred
into the unrestricted
corporate
ownership ofthe CDBF.
Elfinsward The fund was created by the sale of a former retreat house. )he income from the
fund is used to support
stipends,
communications
work and retreat grants.
Terry's Cross The fund represents
the value ofa house, originally
given as a gift to the
diocese, to provide accommodation
for retired clergy and church workers.
Training This fund has been built up by various bequests. The income
is used to support
ordination training
costs and for modest discretionary
grants to assist ordinands		 in
need.

E E
E'000 E'000
Other operating leases:
Total amount payable within one year 22
Total amount payable in the second to fifth years inclusive 10
32 47

Balance sheet liability at 1January 1,628,000 4,988,000
Deficit contribution
paid		 -741,000 -745,000
Interest cost (recognised in SoFA) 14,000 97,000
Remaining
change to the		 balance sheet liability» (recognised in SoFA) -49,000 -2,712,000
Balance sheet liability at 31December 832,000 1,628,000
e %0 " C 0'1,
Discount rate 0.2% 1.1%pa 2.1%%pa
Price inflation 3.1% 2.8% pa 3.1%pa
Increase to total pensionable payroll 1.6% 1.3% pa 1.6%pa

27.PRIOR YEAR STATEM ENT OF FINAN CIAL ACTIVITIES CIAL ACTIVITIES
Unrestricted Funds Restricted Endowment Total Funds Total Funds
General Designated Funds Funds 2019 2018
f'000 f'000 f'000 f'000 f'000 f'000
Income and endowments from
Donations
Parish share 13,954 13,954 13,556
Other donations 151 614 815 807
Charitable
activities		 762 106 868 987
Other activities 423 33 456 603
Investments 823 1,359 2 1S2 2049
Other 29 152 4 185 409
16,142 50 2,264 4 18,460 18,411
Expenditure
on
Raising Funds
Charitable
activities		 73
13,002		 3S5
3,237		 458
16,360		 272
19,191
13,075 121 3,622 16,818 19,463
Net lnmme/(expenditure)
investmentgalns		 before 3,067 ( 71) ~1,358
Unrealised
gains on investments
Realised gains on investments		 16
321		 2,429
91		 3,087
~(138		 5,532
274		 ( 5,151)
902
Net gains/(losses)
on investments		 337 2,520 2,949 5,806 ( 4, 249)
Net inmme/(expenditure) 3,404 ( 71) 1,162 2,953 7,448 ( 5,301)
Transfer between funds ( 2,557) 54 1,839 664
Other recognised
gains/(losses)
Gains/(losses)
on revaluation		 of
fixed assets
Net movement
in funds		 S47 ~17) 3,001 5,840 9,671 ( 13,431)
Total funds brought forward 4,641 6,359 19,100 246, 178 276,278 289,709
Total funds carried forward 5,488 6,342 22,101 252,018 285,949 276,278

Unrestricted
Funds		 Unrestricted
Funds		 Restricted Endowment Total Funds Total Funds Total Funds
General
Designated		 Funds Funds r
2019		 2018
E'000 f.'000 E'000 f.'000 E'000 E'000
Current Year pledges 13,999 13,999 13,769
Current year pledges—
attributable to insurance
Transfer to Deanery reserves
Shorffa)l
in contributions		 183 ~183 ( 302)
13,816 13,816 13,467
Receipts for previous year 138 138 89
Total income 13,954 13,954 13,556
nt year parish share receipts represent 98.796of the total pledges (2018 —97,8N), or, when receipts
revious years are included, 99.796 ofthe total pledges (2018 —98.496)
Donations
Unrestricted Funds Restricted Endowment Total Funds Total Funds
General
Designated		 Funds Funds 2019 r 2018
E'000 E'000 E'000 E'000 E'000 E'000
All Churches Trust Grant 121 50 171 170
Strategic Development Funding 170 170 165
RME 8lock Grant 419 419 225
Grants from oth er
organisations 9 16
Donations 21 25 231
50 614 815 807

Unrestricted Unrestricted Funds Restricted EndowmentTotal FundsTotal FundsTotal Funds
General Designated Funds Funds 2019 r 2018
E'000 E'000 E'000 f.'000 f.'000 E'000
Statutory fees for
parochial services 612
Church Commissioners'
guaranteed annuities 13 13 16
Parish trust Income 93 93 94
Generated Income 83 83 130
Church Schools Training
IEother 119 119 135
762 106
Unrestricted Unrestricted Funds Restricted Endowment Total Funds Total Funds Total Funds
General Designated Funds Funds r 2019 2018
E'000 E'000 E'000 E'000 E'000 E'000
Rents receivable - Properties 423 33 456 603
423 33 456 603
Unrestricted Unrestricted Funds Restricted Endowment Total Funds Total Funds Total Funds
General Designated Funds Funds 2019 r 2018
E'000 E'000 E'000 E'000 f.'000 E'000
Dividends receivable 5
interest receivable 823 1,102 1,925 1,765
Rents receivable —Glebe 257 257 284
823 1,359 2,182 2,049

Unrestricted Unrestricted Funds Restricted Endowmentl'otal Endowmentl'otal Funds Total Funds
General Designated Funds Funds r 2019 2018
F.'000 E'000 F.'000 E'000 E'000 E'000
Otherincome
Gain/ (Loss) on sale of
property 27 31 402
4 185 409
Unrestricted Unrestricted Funds Restricted EndowmentTotal Funds Total Funds
General Designated Funds Funds 2019 2018
E'000 E'000 E'000 E'000 E'000 E'000
Investment
Manager fees		 73 74 147 133
Glebe repairs
&
improvements 311 311 139
73 385 458 272
PRIOR YEAR NOTES TO ACCOUNTS -9CHARITABLE ACTIVITIES
Unrestricted Funds Restricted EndowmentTotal Funds Total Funds
General Designated Funds r
Funds		 2019 2018
F.'000 E'000 F.'000 E'000 E'000 E'000
Contributions
to
Archbishops'
Council
Training for Ministry 632 632
National
Church
Responsibilities 502 502 490
Grants and Provisions 54 54 53
Mission agency pension costs 7 7 6
Retired clergy housing costs 216 216 207
Pooling of ordinands
maintenance
grants		 38 38 29
1,449 1,449 1,400

Unrestricted Unrestricted Unrestricted Funds Restricted Endowmentrotal Restricted Endowmentrotal Funds Total Funds Funds Total Funds
General Designated Funds Funds r
2019		 2018
F.'000 E'000 F.'000 E'000 E'000 F.'000
Resourcing
Ministry		 and
Mission - Parish Ministry
Stipends
and national
Insurance 6,736 7,574 7,457
Pension contributions 1,736 1,736 1,695
Defined benefit pension
scheme movement ( 2,614) ( 2,614) 64
Housing costs 1,570 1,447 3,017 2,876
Mission
Fund grants		 121 121 258
Removal, resettlement &grants 231 231 546
Clergy welfare 23 163 186 270
Ministry Support 229 1 230
7,911 121 2,449 10,481 13,166
Resourcing
Ministry		 and
Mission - support for Parish Minist rl/
Ordination
Training		 693 495 1,188 1,044
Adult
6 du cation		 112 8 120 128
Children
and youth work		 162 10 172 166
Apostolic Life 257 257 370
Common
Good		 33 33 53
Safeguarding 229 229 223
Diocesan Advisory Committee 81 81 58
Pastoral
and Redundant
Churches
uses		 45 45 37
Redundant
churches		 104 104 93
Communications 108 108 97
Chaplains 3
Mission projects (SDF) 117 117 222
Chancellor
& Registrar		 69 69 54
Grants 88 135 223 121
1,981 765 2,746 2,669
Support and Governance
for parish
ministry		 812 812 1,018
2,793 765 3,558 3,687

Unrestricted Unrestricted Funds Restricted Endowmentyotal Funds Total Funds
General Designated Funds r
Funds		 2019 2018
F.'000 F.'000 F.'000 f'000 f'000 f'000
Resourcing Ministry and
Mission - Church Schools
Church Schools department 781 23
Support and Governance
for Church Schools (note 10)
872 938
Total Charitable
activities		 13,002 121 3,237 16,360 19,191
Resourcing ministry
and mission Education
Support for Church Total Funds Total Funds
Ministry Schools 2019 2018
f'000 f'000 f'000 f'000
Support
Central services department 161 20 181 211
General office department 275 275 278
Finance department 188 24 212 284
ITdepartment 140 18 158 307
Depreciation 31 4 35 10
795 66 861 1,090
Governance
External Audit 17 2 19 22
812 68 880 1,112

Total Funds Total Funds Total Funds
Individuals Institutions 2019 r 2018
Number E'000 E'000 E'000 E'000
From unrestricted funds for national
Church responsibilities:
Contributions
to Archbishops'		 Council 1,449 1,449 1,400
From unrestricted
The Chichester
Diocesan Association for
Family Support Work 1 36 36 36
Together in Sussex 1 10 10 10
St Bartz Trust
—Youth work		 1 19 19 18
Clergy Training 58 12 12
C Iergy Moves 45 231 231
Other organisatons 11
110 243 76 319 64
From designated
PCCs for Mission projects 14 121 121 258
From restricted
PCCs for Mission projects 6 158 158 29
Clergy and families for Welfare 86 75 75 102
Overseas mission agencies 7 13 13 13
Ordinands
in training		 51 553 553 281
AD Care of Churches 2 4 7
Other organisatons 26 26
156 628 201 829 432
Totals 286 871 1,847 2,718 2,154

2020 2019
E'000 E'000
CBF Church of England Investment
Fund income		 shares 14,530 13,717
CBFChurch of England Investment
Fund accumulation		 shares 225 204
CBFChurch of England Fixed Interest Securities Fund shares 1,829 1,794
CBFChurch of England Property
Fund shares		 246 259
CBFChurch of England UK Equity Shares 11 11
CBF Church of England Global Equity Shares 162 145
Other common investment
fund holdings		 1,368 1,861
Direct holdings in UK equities 238 363
CBF Church of England Deposit Fund 2,584 1,742
Cash at bank 134 143
Total assets held as custodian
trustee		 21,327 20,239