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|TABLE OF CONTENTS||Page Number|
|---|---|---|
|Foreword|||
|Legal Objects|||
|Strategic Aims and Objectives|||
|Activities and Achievements|in the Year||
|Future Plans|||
|Financial
Review|||
|Principal
Risks and Uncertainties||13|
|Structure,
Governance
and Management||14|
|Trustees'
Responsibilities||16|
|Administrative
Details||18|
|Independent
Auditor's
Report||20|
|Statement of Financial Activities||23|
|Income and Expenditure|Account|24|
|Balance Sheet||25|
|Cash Flow Statement||26|
|Notes to the Financial Statements||27|
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|Rejuvenated
strand|ofthe strategy.
The table below|shows our progress|to date:|
|---|---|---|---|
|Target||Target|Current|
|||number|number|
|||2025|2020|
|Resourcing
Churches||12||
|New Congregations|Sheffield & Rotherham|25||
|New Congregations|Doncaster|25||
|New Congregations|Schools|25||
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||||||||||||As Restated|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||Unrestricted||funds|Restricted||Endowment|Total|Total|
|||||General|Designated||Funds||Funds|2020|2019|
||||Note|E'000||E'000|E'000||E'000|E'000|E'000|
|Income and endowments||from||||||||||
|Donations||||||||||||
|Parish contributions||||3,974||||5||3,979|4,618|
|Archbishops'
Council||||600|||2,923|||3,523|3,142|
|Other donations||||176||154||335||665|450|
|Charitable
activities||||390||||||390|596|
|Other activities||||270||||17||287|255|
|Investments||||132||||543|40|715|727|
|||||5,542||154|3,823||40|9,559|9,788|
|Expenditure
on||||||||||||
|Raising funds||||113||||||113|130|
|Charitable
activities||||5,285||285|4,019||3|9,592|9,781|
|||||5,398||285|4,019||3|9,705|9,911|
|Net Income / (expenditure)|before Investment||gains|||(131)|(196)||37|(146)|(123)|
|Net gains / (losses) on investments||||241||||447|476|1,164|2,758|
|Net income / (expenditure)||for year||385||(131)||251|513|1,018|2,635|
|Transfer between
funds||||148||(185)||37||||
|Other recognised
gains /|(losses)|||||||||||
|Gains on fixed assets||||27|||||391|418|644|
|Actuarial gain / (loss) on
defined
benefit scheme|||||||||||1,468|
|Net movements
in funds||||560||(316)||288|904|1,436|4,747|
|Total funds brought forward||||5,350||473|8,283||44,056|58,162|53,415|
|Total funds carried forward|||18|5,910||157|8,571||44,960|59,598|58,162|
##
|||Total|Total|
|---|---|---|---|
|||2020|2019|
|||f.'000|6'000|
|Total income||9,519|9,748|
|Resources expended||9,702|9,911|
|||(183)|(163)|
|Net gains / (loss) on investments||688|1,652|
||||1,489|
|Other comprehensive|income|||
|Net gain on fixed assets||27|342|
|Net assets transferred|from endowments|||
|Actuarial
gain /(loss)|on defined benefit scheme||1,468|
||||3,299|
||||Total|Total|
|---|---|---|---|---|
||||2020|2019|
||||6'000|E'000|
|Incoming resources|per SoFA||9459|9,788|
|less total endowment|additions||(40)|(40)|
||||9,519|9,748|
|Resources expended|per SoFA||9,705|9,911|
|less expenditure
charged to endowment||capital|(3)||
|Total comprehensive|income||9,702|9,911|
##
|Company
Nu|mber -|196|087||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||As Restated|
|||||||Unrestricted||funds|Restricted|Endowment|Total|Total|
|||||||General|Designated||Funds|Funds|2020|2019|
||||||Note|E'000||E'000|E'000|E'000|E'000|E'000|
|FIXEDASSETS|||||||||||||
|Tangible fixed assets|||||13|2,563||||31.825|34,388|33,979|
|Investments|||||14|4,235|||7,894|12,075|24,204|24,095|
|||||||6,798|||7,894|43,900|58,592|58,074|
|CURRENT ASSETS|||||||||||||
|Debtors|||||15|32|||556||588|872|
|Cash at bank|and in hand|||||640||157|366|1,070|2,233|1,887|
|||||||672||157|922|1,070|2,821|2,759|
|CREDITORS:|amount|faglng due|||||||||||
|within one year|||||16|(400)|||(170)|(10)|(580)|(985)|
|||||||272||157|752|1,060|2,241|1,774|
|TOTAL ASSETS LESSCURRENT|||||||||||||
|LIABILITIES||||||7,070||157|8,646|44,960|60,833|59,848|
|CREDITORS:amount
after more than one||faglng due
year|||17|(740)|||(75)||(815)|(914)|
|Net assets excluding||pension||liabilities||6,330||157|8,571|44,960|60,018|58,934|
|Defined benefit pension|||liabilities||23|(420)|||||(420)|(772)|
|NETASSETS||||||5,910||157|8,571|44,960|59,598|58,162|
|FUNDS|||||||||||||
|Endowment|funds|||||||||44,960|44,960|44,056|
|Restricted funds|||||||||8.571|-|8,571|8,283|
|Unrestricted|funds|||||5,910||157|||6,067|5,823|
|||||||5,910||157|8,571|44,960|59,598|58,162|
##
|||||||As|restated||
|---|---|---|---|---|---|---|---|---|
|||||2020|||2019||
|||||E'000|E'000|E'000||E'000|
|Net cash (outflow) from operating|||activities||||||
||||||(1,320)|||(1,123)|
|Cash flow from investing activities|||||||||
|Dividends,
interest
and rent|from investments|||715||727|||
|Interest paid||||(38)||(37)|||
|Proceeds from the sale of:|||||||||
|Tangible fixed assets||||619||1,877|||
|Fixed assets investments||||1,298||196|||
|Purchase of:|||||||||
|Tangible fixed assets for the use ofthe SDBF||||(853)||(51)|||
|Fixed assets investments||||(14)||(1,805)|||
|Net cash provided
by /(used
activities||in) investing|||1,727|||907|
|Cash flow form financing activities|||||||||
|Loans repaid by the 5DBF||||(108)||(34)|||
|Loans repaid to the SDBF||||47||102|||
||||||(61)||||
|Change In cash and cash equivalents|||in the||||||
|reporting
period|||||346|||(148)|
|Cash and cash equivalents
at1January|||||1,887|||2,035|
|Cash and cash equivalents
at||31December|||2,233|||1,887|
|Recondliation
ofnet income||/ (expenditure) to|||||||
|net cash flow from operating||activities|||||||
|Net Income / (expenditure)|for the||year ended 31||||||
|December|||||1,018|||2,635|
|Adjustments
for:|||||||||
|Depreciation
charge|||||14|||13|
|Dividends,
Interest and rent from investments|||||(715)|||(727)|
|Interest paid|||||38|||38|
|Advancement
ofloans||||||||(5)|
|(Increase) / Decrease in debtors|||||237|||(136)|
|(Decrease) in creditors|||||(396)|||(1,332)|
|(Decrease) in Pension
Liability|||||(352)|||(370)|
|Pension scheme deficit (increase) / decrease||||||||1,519|
|Unreaiised
(gains) / losses on||investments|||(1,164)|||(2,758)|
|Net cash (used in) operating|activities||||(1,320)|||(1,123)|
|Analysis ofcash and cash equivalents|||||||||
|Cash at bank and in hand|||||2,233|||1,887|
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|before then.||||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|funds|Restricted|Endowment|Total|Total|
|||||General
Designated||Funds|Funds|2020|2019|
|||||6'000|6'000|f'000|6'000|6'000|f'000|
|Current year||||||||||
|Parish contributions||||3,532||||3,537|4,179|
|Receipts for|previous||years|55||||55|49|
|||||3,587||||3,592|4,228|
|Parish assistant staff||||387||||387|390|
|||||3,974||||3,979|4,618|
|Archbishops'|Councg|||||||||
|||||Unrestricted|funds|Restricted|Endowment|Total|Total|
|||||General
Designated||Funds|Funds|2020|2019|
|||||E'000|6'000|6'000|f'000|f'000|6'000|
|LINC and Transition||Funding'||||1,798||1,798|1,839|
|Strategic Development|||Fund|||743||743|747|
|Sustainability|Fund'*|||600||||600||
|Capacity Funding||||||114||114|211|
|Resourcing
Ministerial|||Education|||268||268|224|
|Restructuring|Fund||||||||121|
|||||600||2,923||3,523|3,142|
##
||||Unrestricted|funds|Restricted|Endowment|Total||Total|
|---|---|---|---|---|---|---|---|---|---|
||||General
Designated||Funds|Funds|2020||2019|
||||E'000|E'000|E'000|f'000|f'000||6'000|
||Allchurches|Trust grant||154|||154||148|
||Church Burgesses||||75||75||75|
||Donations||176||260||436||227|
||||176|154|335||665||450|
|3.|CHARITABLE ACTIVITIES||Unrestricted|funds|Restricted|Endowment|Total||Total|
||||General
Designated||Funds|Funds|2020||2019|
||||F.'000|E'000|6'000|E'000|e000||f'000|
||Statutory fees||244||||244||389|
||Guaranteed|annuities|1||||1||1|
||Chaplaincy|and other|105||||105||135|
||Education||40||||40||71|
||||390||||390||596|
||||||||30|j|Page|
##
|4.|OTHER ACllVITIES|Unrestricted|funds|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|
|||General
Designated||Funds|Funds|2020|2019|
|||E'000|E'000|E'000|E'000|E'OM|E'000|
||Housing income|270||17||287|255|
|||270||17||287|255|
|5.|INVESTMENT INCOME|Unrestdcted|funds|Restricted|Endowment|Total||
|||General
Designated||Funds|Funds|2020|2019|
|||E'000|E'000|E'000|E'000|E'MO|6'000|
||Dividend
receivable|128||413|40|581|566|
||Interest receivable|4||2||6|18|
||Rents receivable|||128||128|143|
|||132||543|40|715|727|
|6.|FUND RAISING COSTS|Unrestricted|funds|Restricted|Endowment|Total|Total|
|||General
Designated||Fuiids|Funds|2020|2019|
|||E'000|E'000|E'000|E'000|6'000|E'000|
||Glebe agent's fee|83||||83||
||Parsonage
rentai costs|30||||30|30|
|||113||||113|130|
##
|7.|CHARITABLE ACTIVITIES|CHARITABLE ACTIVITIES|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted
funds||Restricted||Endowment|Total|Tots I|
|||||||General
Designated||Funds||Funds|2020|2019|
|||||||6'000|6'000|6'000||6'000|6'000|6'000|
||Contributions
toArchbishops'|||Council|||||||||
||Training|for ministry||||188|||||188|188|
||National|church responsibilities||||141|||||141|149|
||Grants and provisions|||||16|||||16|16|
||Mission|agency pension costs||||7|||||7|2|
||Retired|clergy housing costs||||67|||||67|64|
||Pooling|ofordinands
maintenance|||grants|(30)|||||(30)|(100)|
||General|Synod expenses||||4|||||4|4|
|||||||393|||||393|323|
||Resourcing
Ministry and Mission||||||||||||
||Parish Ministry||||||||||||
||Stipends and national||insurance|||982|73|2,08S||—|3,143|3,316|
||Pension contribution|||||701|20||||721|749|
||Housing costs|||||1,083|23||||1,106|959|
||Removal, resettlement||and|grants||106|||||106|31|
||Other expenses|||||285|149|480|||914|1,122|
|||||||3,157|265|2,56S|||5,990|6,177|
||Support|for parish
ministry||||1,510|20||15|3|1,548|1,558|
|||||||4,667|285|2,583||3|7,538|7,735|
||Expenditure||||||||||||
||Support|for church schools|and|parishes||136|||104||240|319|
||Projects|||||89||1,332|||1,421|1,404|
|||||||225||1.436|||1,661|1,723|
|||||||5,285|285|4,019||3|9,592|9,781|
|S.|OTHER|RESOURCES EXPENDED|||||||||||
|||||||Unrestricted|funds|Restricted||Endowment|Total|Total|
|||||||General
Designated||Funds||Funds|2020|2019|
|||||||6'000|6'000|6'000||6'000|6'000|6'000|
||Change|in pension
liabilities||||||||||(1,468)|
##
||||||Activities|Grant|||
|---|---|---|---|---|---|---|---|---|
||||||Undertaken|Funding of|Support
Costs|Total Costs
2020|
||||||Directly|Activities|||
||||||E'000|E'000||E'000|
|Raising funds|||||113|||113|
|Charitable
activities:|||||||||
|Contributions||to Archbishops'||Council||393||393|
|Resourcing|parish||ministry||5,003|2,088||7,538|
|schools and||Projects||||1,661||1,661|
||||||5,116|4,142|447|9,705|
||||||Activities|Grant|||
||||||Undertaken
Directly|Funding of
Activities|Support
Costs|Total Costs
2019|
||||||E'000|E'000|5'000|E'000|
|Raising funds|||||130|||130|
|Charitable
activities:|||||||||
|Contributions||to Archbishops'||Council||323||323|
|Resourcing|padsh||ministry||5,200|2,090||7,735|
|Schools and||Projects||||1,723||1,723|
||||||5,330|4,136|445|9,911|
##
|ANALYSIS OF SUPPORT COSTS||||||
|---|---|---|---|---|---|
||Unrestricted|funds|Restricted|Endowment|Total|
||General
Designated||Funds|Funds|2020|
||E'000|E'000|E'000|E'000|E'000|
|Central administration|364||||364|
|Governance:||||||
|Externalaudit|21||||21|
|Registrar and Chancellor|58||||58|
|Diocesan Synodical costs|4||||4|
||||||447|
||Unrestricted|funds|Restricted|Endowment|Total|
|---|---|---|---|---|---|
||General
Designated||Funds|Funds|2019|
||000|E'000|E'000|E'000|E000|
|Central administration|368||||368|
|Governance:||||||
|External audit|16||||16|
|Registrar and Chancellor|57||||57|
|Diocesan Synodical costs|4||||4|
||445|||||
##
|11.|ANALYSIS OFGRANTS MADE||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||Total|Total|
||||||Nbr||Individuals|Institutions|2020|2019|
||||||||E'000|6'000|E'000|E'000|
||From unrestricted
funds for||||||||||
||National
Church responslbgltles||||||||||
||Contributions
to Archbishops'|Council||||||393|393|323|
||From unrestricted
funds:||||||||||
||PCCs for faculty fees|||||||21|21|29|
||Clergy for training|||||41|21||21|21|
||Ordinands
in training|||||15|127||127|117|
||Regional Training
Partnership|||||1||7|7|7|
|||||||57|148|28|176|174|
|12.|STAFF COSTS||||||||||
||||||||||2020|2019|
||||||||||E'000|E'000|
||Employee costs during the year were as||follows:||||||||
||Wages and salaries||||||||1,960|1,801|
||National
Insurance
contributions||||||||170|156|
||Pension costs||||||||207|208|
||||||||||2,337|2,165|
||The average number ofpersons employed|||during|the year:||||||
||||||||||Number|Number|
||Administration
and financial management||||||||17|20|
||Property||||||||2|2|
||Discipleship 8 Ministry, Stewardship||||||||12|13|
||Safeguarding
and inclusion||||||||5|4|
||Projects staff funded from reserves||||||||9|10|
||Projects staff externally
funded||||||||34|28|
||||||||||79|77|
||The average number ofpersons employed|||during|the year based on full-||||||
||time equivalents:||||||||Number|Number|
||Administration
and Rnancial management||||||||14.3|15.5|
||Property||||||||2.0|2.0|
||Discipleship
&Ministry,
Stewardship||||||||10.4|10.6|
||Safeguarding
and inclusion||||||||3.6|3,4|
||Projects staff funded from reserves||||||||6.5|8.2|
||Projects staff externally
funded||||||||27.0|22.8|
|||||||||||62.5|
||The number ofstaff whose emoluments||(including||benefits in kind but|excluding|||||
||pension contributions)
amounted to more|||than 660,000were asfollows:|||||Number|Number|
||F60,001- E70,000||||||||1|2|
||Pension payments of E6,357were made||forthese||employees (2019:614,000(.||||||
||||||||||34|( Page|
##
##
|||Stipend|Housing|
|---|---|---|---|
|The|Right Revd 5Jegey|No|Yes|
|Venerable J Iqbal||Yes|Yes|
|Venerable
M Chamberlain||Yes|Yes|
|Revd|I Smith|Yes|Yes|
|Revd|E M Robertshaw|Yes|Yes|
|Revd|Fiona Kouble|Yes|Yes|
|Revd|Claire Dawson|Yes|Yes|
|the dioc|ese, and th|e costs were as follows:|||
|---|---|---|---|---|
||||2020|2019|
||||E'000|f'000|
|Stipend|||3,139|3,195|
|National|Insurance|contributions|267|272|
|Pension|costs||843|749|
##
|TANGIBLE FIXEDASSETS||||||||
|---|---|---|---|---|---|---|---|
||Unrestricted||Funds||Personages|Stipend||
||Freehold|Leasehold||Office|Fund|Fund||
||Properties|Properties||Equipment|Properties|Properties|Total|
||E'000|E'000||6'000|E'000|6'000|E'000|
|Costofvaluation||||||||
|At 1)anuary 2020|2,696|116||46|29,357|1,786|34,001|
|Additions||||||853|853|
|Disposals|(143)|(116)|||(171)||(430)|
|Revaluation||||||||
|At31December 2020|2,553|||46|29,186|2,639|34,424|
|Depreciation||||||||
|At 1l an us ry 2020||||22|||22|
|Disposals||||||||
|Charge for the year||||14|||14|
|At 31December 2020|||||||36|
|Net Book Value||||||||
|At 31December 2020|2,553|||10|29,186|2,639|34,388|
|At 31December 2019|2,696|116||24|29,357|1,786|33,979|
##
|FIXEDA|SSE|TS INVESTMENTS|||||||
|---|---|---|---|---|---|---|---|---|
||||As restated||||Change
in||
||||At 1)an||||Market|At 31Dec|
||||2020|Additions|Disposals|Transfers|Value|2020|
||||E'000|6'000|E'000|E'000|E'000|E'000|
|Unrestricted||funds|||||||
|Unlisted|investments||3,994||||241|4,235|
|Restricted funds|||||||||
|Unlisted|investments||7,433|14|||447|7,894|
|Endowment||funds|||||||
|Investment||property|4,863||(592)||71|4,342|
|Unlisted|investments||7,805||(477)||405|7,733|
||||12,668||(1,069)||476|12,075|
|Total|||24,095|14|(1,069)||1,164|24,204|
##
|15.DEBTORS||||||||
|---|---|---|---|---|---|---|---|
|||||||2020|2019|
|||||||E'000|6'000|
|Due within one year||||||||
|Current year Common|Fund||||||2|
|Assigned fees|||||||32|
|Loans to parishes||||||27|33|
|Loans to schools||||||13|15|
|Other debtors and prepayments||||||96|300|
|||||||138|382|
|Due after more than one year||||||||
|Loans to parishes||||||375|403|
|Loans to schools||||||75|87|
|||||||450|490|
|Total debtors||||||||
|16.CREDITORS:amounts|falgng||due within|one year||||
|||||||2020|2019|
|||||||6'000|E'000|
|Church Commissioners|other||loans|||25|35|
|Deferred income||||||15|105|
|Other creditors and accruals||||||540|845|
|||||||580|985|
|17.CREDITORS:amounts|falling||due after|more than|one year|||
|||||||2020|2019|
|||||||E'000|E'000|
|Loan repavment
instalments|||due after more than||one year|||
|Church Commissioners||value-Rnked||loans||703|753|
|Church Commissioners||other loans||||12|47|
|Otherloans||||||100|114|
|||||||&15|914|
|The maturity ofthe above loans may be analysed|||||as follows:|||
|Between one and two|years|||||24|20|
|Between two and five|years|||||38|86|
|In five years or more||||||753|808|
||||||||914|
##
##
||||As restated||||Gains and|At 31Dec|
|---|---|---|---|---|---|---|---|---|
||||At 1fan 2020|Income|Expenditure|Transfers|Losses|2020|
||||E'000|E000|E'000|||E'000|
|UNRESTRICTED FUNDS|||||||||
|General|||5,350|5,542|(5398)|148|268|5,910|
|Designated
Funds:|||||||||
|Clergy Conference|||30|||||30|
|Church House|Refurbishment||13|||||13|
|Ituinquenmaf|Costs||100||(23)|(77)|||
|Interim 6Assist. Diocesan Secretary||match fun|60||(20)|(40)|||
|Strategy rmplementation|||65|||(65)|||
|Allchurches
Trust Fund|||105|154|(149)|(3)||107|
|Restructuring|Fund||100||(93)|||7|
||||473|154|(285)|(185)||157|
|RESTRICTED FUNDS|||||||||
|Stipend Income||||2,14S|(2,148)||||
|Pastoral|||2,619|71|(11)||117|2,796|
|Church
in Action|||4,612|143|(424)|3|281|4,615|
|Schools|||420|100|(104)|34|25|475|
|projects|||265|1,361|(1,332)|||294|
|Miscellaneous|Trusts||367||||24|391|
||||8,283|3,823|l4,019)|37|447|8,571|
|ENDOWMENT|FUNDS||||||||
|Stipend Fund|Capital||11,090||(3)||486|11,573|
|Personages|||31,478|40|||328|31,846|
|Schools|||1,488||||53|1,541|
||||44,056|40|(3)||867|44,960|
|TOTALFUNDS|||58,162|9,559|(9,705)||1,582|59,598|
##
|||||Restated|Restated|Restated|At 1|||||Gains and|As at31oec|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||Jan|2019||Income||Expenditure|Transfers|Losses|2019|
||||||E'000|||E'000||6'000|6'000|6'000|E'000|
|UNRESTRICTED FUNDS||||||||||||||
|General||||||2,894||5,570||(5,425)|(74)|2,385|5,350|
|Designated
Funds:||||||||||||||
|Clergy Conference|||||||30||||||30|
|Church House Refurbishment|||||||13||||||13|
|Deanery Mission initative|||||||25|||(25)||||
|Centenary
Project|||||||6|||(6)||||
|Quinquennial
Costs|||||||||||100||100|
|Interim &Assist. Diocesan|Secretary
match fun||||||||||60||60|
|Strategy implementation|||||||||||65||65|
|Allchurches
Trust Fund|||||||106|148||(49)|(100)||105|
|Restructuring
Fund|||||||95|121||(116)|||100|
||||||||275|269||(196)|125||473|
|RESTRICTED FUNDS||||||||||||||
|Stipend income||||||||2,190||(2,190)||||
|Pastoral||||||2,276|||71|(20)||292|2,619|
|Church
in Action||||||4,371||148||(128)|(451)|672|4,612|
|Schools|||||||477|123||(184)|(54)|58|420|
|Projects|||||||200|1,377||(1,766)|454||265|
|Miscellaneous
Trusts|||||||314|||(2)||55|367|
|||||||7,638||3,909||(4,290)|(51)|1,077|8,283|
|ENDOWMENT FUNDS||||||||||||||
|Stipend Fund Capital|||||10,074|||||||1,016|11,090|
|Parsonages|||||31,203||||40|||235|31,478|
|Schools||||||1,331||||||157|1,488|
||||||42,608|||||||1,408|44,056|
|TOTAL FUNDS|||||53,415|||9,788||(9,911)||4,870|58,162|
|ANALYSIS OF TRANSFERS|BETWEEN FUNDS|||||||||||||
|||||||||Unrestricted||funds|Restricted|Endowment||
|||||||||General|Designated||Funds|Funds||
|||||||||E'000||E'000|E'000|E'000||
|Togeneral from designated
fund to for match funding
interim
&assistant Diocesan Secretary||||||of||||(40)||||
|To general from designated|fund||for strategy||||||65|(65)||||
|Quinquennials
works, to general|||fund from designated|||fund|||77|(77)||||
|Toschools fund from general
fund for contribution
costs transferred
through
reserves|||||to|DBE||(34)|||34|||
|From general fund to Church||in Action fund|||||||(3)|||||
|From designated
fund to general|||fund for Doncaster|||||||||||
|Archdeaconry
project funded||by|the Agchurches|Trust||||||(3)||||
|||||||||148||(185)|37|||
##
##
||||Current|||
|---|---|---|---|---|---|
||Fixed Assets|Investments|Assets|Creditors|Net Assets|
||E'000|6'000|E'000|E'000|E'000|
|UNRESTRICTED FUNDS||||||
|General|2,563|4,235|672|(1,560)|5,910|
|Designated
funds||||||
|Clergy Conference|||30||30|
|Church House Refurbishment|||13||13|
|Allchurches
Trust Fund|||107||107|
|Restructuring
Fund|||7||7|
||||157||157|
|RESTRICTED FUNDS||||||
|Pastoral||2,310|487||2,797|
|Church
in Action||4,817|(47)|(152)|4,618|
|Schools||394|173|(93)|474|
|Projects|||290||290|
|Miscellaneous
Trusts||373|19||392|
|||7,894|922|(245)|8,571|
|ENDOWMENTFUNDS||||||
|Stipend
Fund Capital|2,640|8,351|592|(10)|11,573|
|Parsonages|29,185|2,183|478|-|31,846|
|Schools||1,541|||1,541|
||31,825|12,075|1,070|(10)|44,960|
|TOTAL FUNDS AS AT31DECEMBER 2020|34,388|24,204|2,821|(1,815)|59,598|
##
##
|SUNIMARY OFAS|SETS BYFUND|As Restated|||||
|---|---|---|---|---|---|---|
|||||Current|||
|||Fixed Assets|Investments|Assets|Creditors|Net Assets|
|||E'000|E'000|E'000|E.'000|E'000|
|UNRESTRICTED FUNDS|||||||
|General||2,836|3,994|479|(1,959)|5,350|
|Designated
funds|||||||
|Clergy Conference||||30||30|
|Church House Refurbishment||||13||13|
|Quinquennial
Cost||||100||100|
|Interim Assistant|DS match funding|||60||60|
|Strategy Implementation||||65||65|
|Alichurches
Trust|Fund|||105||105|
|Restructuring
Fund||||100||100|
|||||473|||
|RESTRICTED FUNDS|||||||
|Pastoral|||2,179|440||2,619|
|Church
in Action|||4,536|217|(141)|4,612|
|Schools|||369|602|(551)|420|
|Projects||||269|(4)|265|
|Miscellaneous
Trusts|||349|18||367|
||||7,433|1,546|(696)|8,283|
|ENDOWMENT
FUNDS|||||||
|Stipend
Fund Capital||1,787|9,156|163|(16)|11,090|
|Parsonages||29,356|2,024|98||31,478|
|Schools|||1,488|||1,488|
|||31,143|12,668|261|(16)|44,056|
|TOTAL FUNDS AS|AT31DECEMBER2019|33979|24,095|2,759|2,671|58,162|
##
##
|RESTIIICTED FUNDS|RESTIIICTED FUNDS|RESTIIICTED FUNDS|||
|---|---|---|---|---|
|Pastoral|Fund||The Diocesan Pastoral account was set up under the provisions ofthe Pastoral Measure 1933.||
||||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 forthe 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 dioceses||
||||to transfer funds to the Diocesan Stipends Fund income or capital accounts.||
|Church|in Action||The Church
in Action fund originates
from an appeal
by that name launched
in 1945to provide||
||||money for new churches
in the Diocese. Compensation
paid to the Diocese from the||
||||Government's
War Emergencies
Fund in respect ofchurches demolished
in the blitz was added||
||||to the fund. The fund financed the building ofseveral new churches but what remains
is used to||
||||fund grants and loans to parishes for the improvement
of parish
buildings.
It can also be used||
||||for clergy training,
stipends
and pensions,
providing
Christian
social workers
and improvements||
||||to church schools. The fund is regulated
by a scheme ofthe Charity Commission
dated 10May||
||||1974.||
|Church|Schools Fund||This represents
unexpended
accumulations
ofsale proceeds ofredundant
Church of England||
||||School properties.
Its use is restricted
by law to capital and maintenance
work for Church of||
||||England schools in the Diocese and education
generally at Church ofEngland
schools in the||
||||Diocese. The SDBFisTrustee ofthese funds, which are managed
on a day to day basis by and in||
||||consultation
with the Board ofEducation.||
|Projects|||The projects undertaken
by the SDBFare as follows:||
||||1.
Mission partnership
Development
Worker project||
||||2.
Centenary
Project||
||||3.
Children' s, Youth and Families Worker project||
||||4.
Resourcing
Churches Project||
|Miscellaneous||Trusts|There are seven trust funds where the Board acts as trustee and controls the management|and|
||||use ofthe funds. These are as follows:||
||||Queen Victoria Fund||
||||Training of Ordin
ands - Alice
Ma rp le Trust||
||||Training ofOrdinands
-EI Freeman Bequest||
||||Elizabeth
Bramall Trust||
||||Sheffield Scripture Readers General Trusts||
||||Sheffield Scripture Readers Benevolent Trusts||
||||First Lord Grimthorpe
Charity Fund||
|ENDOWMENT||FUNDS|||
|Stipend|Fund Capital||The Diocesan Stipends Capital Fund has been created from the Diocesan Stipends Fund Capital||
||||account assets held on behalf ofthe Diocese by the Church Commissioners
under the||
||||Endowments
and Glebe Measure 1976to provide income for clergy stipends.
Itrepresents|the|
||||accumulated
sale proceeds ofglebe property,
sale proceeds ofbenefice houses and surplus||
||||benefice endowments
following pastoral reorganisation.
The fund may be used for the||
||||purchase,
capital improvement
and maintenance
ofglebe property
and benefice houses. Funds||
||||can be invested
m the CBF Church of England
Property,
Investment
or Fixed Interest Securities||
||||Funds, or simply held on deposit.||
|Parsonages|||This fund represents
the value ofag the benefice houses (parsonagesj
in the Diocese after||
||||deducting
loans outstanding
in respect ofsuch houses.||
|Church Schools||Fund|This represents
unexpended
accumulations
ofsale proceeds ofredundant
Church of England||
||||School properties.
Its use is restdicted
by law to capital and maintenance
work for Church of||
||||England schools in the Diocese and education
generally at Church ofEngland schools in the||
||||Diocese. The SDBFis Trustee ofthese funds, which are managed
on a day to day basis by and in||
||||consultation
with the Board ofEducation.||
##
##
|contributions
pay|able (as a percentage ofpensionable
stipends)
|are as set out in the table below.||
|---|---|---|---|
|||January|January|
|%ofpensionable|stipends|2018to
December|2021to
December|
|||2020|2022|
|Deficit repair contributions||21.9%|7.1SI|
##
|sheet liability|over 2019|and over 2020 isset out|in the table|below.|||
|---|---|---|---|---|---|---|
||||||2020|2019|
||||||E'000|E'000|
|Balance sheet|liability as|at 1January|||772|2,610|
|Contributions|paid||||(359)|(370)|
|Interest costs|(recognised|in the SoFA)|||7|51|
|Remaining
change to the||balance sheet liability'|(recognised|in SoFA)||(1,519)|
|Balance sheet|liability as|at31December|||420|772|
|||December|December|December|
|---|---|---|---|---|
|||2020|2019|2018|
|Discount rate||0.2N p.a.|1.1Np.a.|2.1Np.a.|
|Price inflation||3.1%p.a.|2.8%p.a.|3.1N p.a.|
|Increase to total pensionable|payroll|1.6SSp.a.|2.3y(p.a.|1.6N p.a.|
##
##
##
|The financial assets hel|d in this|wa|y may be summarised
as follows:|||
|---|---|---|---|---|---|
|||||2020|2019|
|||||F.'000|E'000|
|CBFChurch ofEngland|Investment||Fund Income Shares|5,065|4,769|
|CBFChurch ofEngland|Fixed Interest Securities Fund Shares|||284|305|
|COIF Income and Accumulation||Shares||288|272|
|CBFChurch of England|Deposit|Fund||949|943|
|Other Investments||||278||
|Cash at bank||||277|519|
|||||7,141|6,808|
##