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2021-12-31-accounts

Table ofContents Page
Foreword
Legal Objects
Strategic Aims and Objectives
Activities and Acheivements in the Year
Future Plans
Financial
Review
Principal
Risks and Uncertainties		 13
Structure, Governance and Management 14
Trustees'
Responsibilities		 16
Administrative
Details		 17
Independent
Auditors		 Report 18
Statement of Financial Activities 21
Balance Sheet 22
Cash Flow Statement 23
Notes to the Financial Statements 24

Current number 2021 Target number 2025
Resourcing
Churches		 12
New Congregations Sheffield &Rotherham 25
New Congregations Doncaster 25
New Congregations Schools 25

Rev lan Parkinson Associate Archdeacon Transition Enabler Jan-21
Rev Julie Upton Associate Archdeacon Transition Enabler Jan-21
Ruth Dunlop Human
Resources Director		 Apr-21
Rev Christopher Stebbing Associate Archdeacon Transition Enabler Jun-21
Rev Julie Bacon Associate Archdeacon Transition Enabler Jul-21
Rev Stephen
Edmonds		 Associate Archdeacon Transition Enabler Jul-21
Rev Clive Hogger Associate Archdeacon Transition Enabler Aug-21
Keith Mallon Finance Director Dec-21

President The Right Reverend
Dr PJ Wilcox		 The Right Reverend
Dr PJ Wilcox		 The Right Reverend
Dr PJ Wilcox
Chair IG Walker MSc, MA, CEng, FIET
Deputy Chair N Birchenall
Other Directors JA Butcher MA (Cantab), MSc, PhD
The Venerable
M LChamberlain		 BA, BTh, MPhil
The Reverend
C Dawson
IR Downing
The Venerable
J Iqbal
The Right Reverend
Sophie Jelly
The Reverend
F Kouble
M MacDonald
IJ Newton
BA FCA
Lay Canon
P M Rainford
MA
The Reverend
EEM Robertshaw		 BA, PGCE, MTh (Resigned 31stDec 2021)
The Reverend
Canon
Ml Rhodes		 (From 1stJanuary 2022)
The Reverend
I Smith BA
The Reverend
EH Steele (From 27th Feb 2022)
The Very Reverend
ALThompson		 (From 21st Nov 2021)
Secretary K Bell
Registered Office: Diocesan Church House, 95-99Effingham
Street,		 Rotherham, 565 1BL
Bankers Yorkshire
Bank Pic, 6A High Street, Mexborough,		 564 9AP
Auditors Hawsons,
Pegasus House, 463A		 Glossop Road, Sheffield, 510 2QD
Solicitors Wake Smith Solicitors, No.1Velocity, 2 Tenter Street, Sheffield, 514BY
Investment advisers CCLA Investment
Management		 Ltd
80Senator House, 85 Queen Victoria Street, London, EC4V 4ET
Glebe Agents Savills, 48 Bootham, York, YO30 7WZ
Insurers EIG, Beaufort House, Brunswick Road, Gloucester, GL1 1JZ

EFFIEiD DIOCESAN BOAAD OF FIPIAN Ind•pwdertAuditses Rewtfor End￿31 Def•M￿ 11111 Thè Charitable company is subject to laws and re8ul4tions that dirertty and Indirectly affert the financial statement Based on our understandin8 of the charits￿e cofflpany and the environrnent it operates within, we determined that the laws and re8ulatyons which were most $￿n￿c3nt included FRS 102 and the Companiès Art 2￿6. We cortSFdtrd the extent to which non-Com￿lance with thtst laws and re8ulations might have a material e(lert on the financial ststements, includin8 how fraud might octur. We evaluated management's intentNe5 and oppwtunities forfraudul¢nt manipulation of the finantial statemÈnts lintludin8 the risk of override ol controls). and determined that the principal risks were related to the postyn8 of inappropriate journal entries to improve the chariVs result for the period. and management bias In key auounting estimates. Audit procedures performed by the en8a8ernent tearn wKluded: Discussions with managemeni and those responsible for le8al compliance procedures within the charitable company io obtain an understandin8 of the legal and regulatory framew(Yk aP￿Icable to the charity and how the charitytomplies with thatframtwtxk. indudin8 consideration of known or SU5￿cted instsnces of non.t0mpl1an￿ with laws and re8vlations and fra￿1. Reviewn8 minute5 ofTrustee rneeti￿. • Idtntifyin8 and a55es5in8 the desy effectivene55 of control5 that mana8ement has in Pla￿ to prevent and detect fra￿1 and non-compliance with laws and regUla￿n$. Challen8in8 assumptions and judgements made by Man￿rneDt In their signif￿Ant attountirg estimates. Identifyin8 and t￿tIn8 journal entr￿$. in particular any journal entsies posted with unLtsual account combinations or posted by senior mana8emenL There are inherent limitation5 in the audit procedures isutbed alxwe and the more remo¥e£l non-compllance wlth laws and regulations is Irom the events and tran$arti￿$ reflerted in the financial statements, the less likely we are to become aware of it. A150, the risk of not detecbn8 a material mi$5tstement due to fraud is hi8her than the risk of not (letertin8 one resultin8 from error. a5 frzud may invcAve deliberate concealment by. for example. for8ery or intentional misrepresentations. or throu8h collusion. A further descriptlon of our reSP(￿lbilItieS is avallawe on the Financial Reportin8 Counol's website at www.frc.org.uk1auditorslaudit-assufancelaudrtor-s-￿pOn￿bIIttIes-fof-the-aUdlt-0f-the-fi/desenPt•Dft-of-the-audItorfs- rtspon5ibilitiesfor. This dstriPii¢)n forn)s part of our auditorfs reporL Llse ofow report This report is made solely to ihe tharitsble comparfs members, as a body. in accordan￿ with Chapter 3 of Pèrt 16 of the Companies Act 2(￿. Our audr( work has been undertaken so that we mi8ht stste to the tharitable cOnwan￿5 members those matters we are reguired to stste to them in an auditorfs report and for no other purpose. To the fullest extent pemiltted by law, we do not accept or assume responsibility to ènyone other than the charitsble company and the charitable company's members as a body. for our audit work. for thi5 report. or for the opinionswe have formed. Simon Bladen (Seniof Ststutory Auditor) For and on behalf Hawsons Chartered Acc￿nIants, Statutory Auditor Pegasus House 463a G10$5¢p Road effield $10 2QD 10 h.liotl Pxe20¢3141

Unrestricted funds Restricted Endowment Total Total
General Designated Funds Funds 2021 2020
Note f'000 f'000 f'000 f'000 f'000 f'000
Income and endowments from
Donations
Parish contributions 3,572 3,577 3,979
Archbishops'
Council		 900 3,835 4,735 3,523
Other donations 149 160 275 584 665
Charitable
activities		 430 435 390
Other activities 245 16 261 287
Investments 135 492 671 715
5,431 160 4,628 44 10,263 9,559
Expenditure
on
Raising funds 87 87 113
Charitable
activities		 5,396 139 4,348 72 9,955 9,592
5,483 139 4,348 72 10,042 9,705
Net income / (expenditure)
investment
gains		 before (52) 21 280 (28) 221 (146)
Net gains / (losses) on investments 609 1,113 1,119 2,841 1,164
Net income / (expenditure) for year 557 21 1,393 1,091 3,062 1,018
Transfer between funds 18 97 (97)
Other recognised gains / (losses)
Gains on fixed assets 78 528 418
Net movements
in funds		 732 21 1,296 1,619 1,436
Total funds brought
forward		 5,910 157 8,571 44,960 59,598 58,162
Total funds carried
forward		 17 6,642 178 9,867 46,579 63,266 59,598

Unrestricted funds Restricted Endowment Total Total
General Designated Funds Funds 2021 2020
Note f'000 f'000 f'000 f'000 f'000 f'000
FIXEDASSETS
Tangible fixed assets 12 2,027 33,234 35,261 34,388
Investments 13 4,844 8,521 12,111 25,476 24,204
6,871 8,521 45,345 60,737 58,592
CURRENT ASSETS
Debtors 14 80 757 837 588
Cash at bank and in hand 884 178 790 1,234 3,086 2,233
178 1,547 1,234 3,923 2,821
CREDITORS: amount
falling due within one 15 (332) (138) (470) (580)
632 178 1,409 1,234 3,453 2,241
TOTAL ASSETS LESS
CURRENT UABILITIES 7,503 178 9,930 46,579 64,190 60,833
CREDITORS: amount
falling due after more 16 (650) (63) P13) (815)
than one year
Net assets excluding pension liabilities 6,853 178 9,867 46,579 63,477 60,018
Defined benefit pension
liabilities		 21 (211) (211) (420)
6,642 178 9,867 46,579 63,266 59,598
FUNDS
Endowment
funds		 46,579 46,579 44,960
Restricted funds 9,867 9,867 8,571
Unrestricted
funds		 6,642 178 6,820 6,067
6,642 178 9,867 46,579 63,266 59,598

2021 2020
f'000 f'000 f'000 f'000
Net cash (outflow) from operating
activities		 (1,005) (1,320)
Cash flow from investing activities
Dividends,
interest and rent from investments		 671 715
Interest paid (38) (38)
Proceeds from the sale of:
Tangible fixed assets 1,612 619
Fixed assets investments 2,955 1,298
Purchase of:
Tangible Fixed Assets for the use ofthe SDBF (1,889) (853)
Fixed assets investments (1,386) (14)
Net cash provided
by investing
activities		 1,925 1,727
Cash flow form financing activities
Loans repaid by the SDBF (106) (108)
Loans repaid to the SDBF 39 47
(67) (61)
Change in cash and cash equivalents in the reporting
period 853
Cash and cash equivalents at 1January 2,233 1,887
Cash and cash equivalents at 31December 3,086 2,233
Reconciliation
ofnet income / (expenditure)		 to net
cash flow from operating activities
Net income /(expenditure) for the year 3,062 1,018
ended 31December
Adjustments
for:
Depreciation
charge		 10 14
Dividends,
interest and rent from investments		 (671) (715)
Interest paid 38 38
(Increase) / Decrease in debtors (288) 237
(Decrease) in creditors (106) (396)
(Decrease) in Pension
Liability		 (209) (352)
Pension scheme deficit (increase) / decrease
Unrealised
(gains) / losses		 on investments (2,841) (1,164)
Net cash (used in) operating
activities		 (1,005) (1,320)
Analysis ofcash and cash equivalents
Cash at bank and in hand 3,086 2,233

Share before th en.
Unrestricted funds Restricted Endowment Total Total
General Designated Funds Funds 2021 2020
f'000 f'000 f'000 f'000 f'000 f'000
Current year
Parish contributions 3,250 3,255 3,537
Receipts for previous years 43 43 55
3,293 3,298 3,592
Parish assistant staff 279 279 387
3,572 3,577 3,979
Archbishops'
Council
Unrestricted funds Restricted Endowment Total Total
General Designated Funds Funds 2021 2020
f'000 f'000 E'000 f'000 f'000 f'000
LINC and Transition Funding' 1,820 1,820 1,798
Strategic Development Fund 796 796 743
Sustainability
Fund"		 900 900 600
Capacity Funding 138 138 114
Resourcing
Ministerial		 Education 335 335 268
Transformation Bid 746 746
900 3,835 4,735 3,523
Other dona tions
Unrestricted funds Restricted Endowment Total Total
General Designated Funds Funds 2021 2020
f'000 f'000 f'000 f'000 f'000 f'000
Allchurches Trust grant 160 160 154
Church Burgesses 1 75 76 75
Donations 148 200 348 436
149 160 275 665
3 CHARITABLE ACTIVITIES Unrestricted funds Restricted Endowment Total Total
General Designated Funds Funds 2021 2020
f'000 f'000 f'000 f'000 f'000 f'000
Statutory fees 334 334 244
Guaranteed
annuities		 1
Chaplaincy
and other		 56 56 105
Education 40 45 40
430 435 390
4 OTHER ACTIVITIES Unrestricted funds Restricted Endowment Total Total
General Designated Funds Funds 2021 2020
f'000 f'000 f'000 f'000 f'000 f'000
Housing income 245 16 261 287
245 16 261 287
5 INVESTMENT INCOME Unrestricted funds Restricted Endowment Total Total
General Designated Funds Funds 2021 2020
f'000 f'000 f'000 f'000 f'000 f'000
Dividend
receivable		 133 400 577 581
Interest receivable 2 1 3 6
Rents receivable 91 91 128
135 492 671 715
6 FUND RAISING COSTS Unrestricted funds Restricted Endowment Total Total
General Designated Funds Funds 2021 2020
f'000 f'000 f'000 f'000 f'000 f'000
Glebe agent's fee 62 62 83
Parsonage
rental costs		 25 25 30
87 87 113
7 CHARITABLE ACTIVITIES
Unrestricted funds Restricted Endowment Total Total
General Designated Funds Funds 2021 2020
f'000 f'000 f'000 f'000 f'000 f'000
Contributions
toArchbishops'		 Council
Training for ministry 188 188 188
National
church responsibilities		 131 131 141
Grants and provisions 16 16 16
Mission agency pension costs 8 8 7
Retired clergy housing costs 69 69 67
Pooling ofordinands
maintenance
grants		 (30)
General Synod expenses
415 415 393
Resourcing
Ministry and Mission
Parish Ministry
Stipends and national insurance 726 2,550 3,276 3,143
Pension contribution 764 764 721
Housing costs 1,405 1,405 1,106
Removal, resettlement and 94 94 106
grants
Other expenses 133 131 374 638 914
3,122 131 2,924 6,177 5,990
Support for parish ministry 1,615 23 72 1,718 1,548
4,737 139 2,947 72 7,895 7,538
Expenditure
Support for church schools and 150 108 258 240
parishes
Projects 94 1,293 1,387 1,421
1,401 1,645 1,661
5,396 139 4,348 72 9,955 9,592

Activities Grant Support Total Costs
Undertaken Funding of Costs 2021
Directly Activities
f'000 f'000 f'000 f'000
Raising funds 87 87
Charitable
activities:
Contributions to Archbishops' Council 415 415
Resourcing parish
ministry		 4,877 2,550 468 7,895
Schools and Projects 1,645 1,645
4,964 4,610 468 10,042
Activities Grant Support Total Costs
Undertaken Funding of Costs 2020
Directly Activities
f'000 f'000 f'000 f'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 9,705
9 ANALYSIS OF SUPPORT COSTS
Unrestricted funds Restricted Endowment Total
General Designated Funds Funds 2021
f'000 E'000 f'000 f'000 E'000
Central administration 407 407
Governance:
External audit 23 23
Registrar and Chancellor 37 37
Diocesan Synodical costs 1 1
468 468
Unrestricted funds Restricted Endowment Total
General Designated Funds Funds 2020
f'000 f'000 f'000 f'000 E'000
Central administration
Governance:
External audit 21 21
Registrar and Chancellor 58 58
Diocesan Synodical costs 4 4

10 ANALYSIS OF GRANTS MAD E
Total Total
Nbr Individuals Institutions 2021 2020
f'000 f'000 E'000 f'000
From unrestricted
funds for		 National Church
responsibilities
Contributions
to Archbishops'		 Council 415 415 393
From unrestricted
funds:
PCCs for faculty fees 13 13 21
Clergy for training 40 7 7 21
Ordinands
in training		 16 192 192 127
Regional Training
Partnership		 7
56 199 13 212 176
11 STAFF COSTS
2021 2020
f'000 f'000
Employee costs during the year were as follows:
Wages and salaries 2,178 1,960
National
Insurance
contributions		 201 170
Pension costs 195 207
2,574 2,337
The average number ofpersons employed during the year:
Number Number
Administration
and financial		 management 17 17
Property 2 2
Discipleship
& Ministry,
Stewardship		 13 12
Safeguarding
and inclusion		 4 5
Projects staff funded
from reserves		 7 9
Projects staff externally
funded		 39 34
82 79
The average number ofpersons employed during the year based
on full-time equivalents: Number Number
Administration
and financial		 management 14.5 14.3
Discipleship
& Ministry,
Stewardship		 12.3 10.4
Safeguarding
and inclusion		 3.4 3.6
Projects staff funded from reserves 4.4 6.5
Projects staff externally
funded		 32.0 27.0
66.6 61.8
The number ofstaff whose emoluments (including benefits in kind but excluding
pension
contributions)
amounted		 to more than E60,000were as follows: Number Number
f60,001- f70,000
f70,001 - f80,000
Pension payments
ofE14,105		 were made for these employees (2020:E6,357).

Diocesan Diocesan Secretary and Company Secretary Katie Bell
Director of Finance to 28th February 2021 Chun Tsang
Interim Director ofFinance from 19th May 2021to 18th October 2021 Kendrick Macpherson
Director of Finance from 1st December 2021 Keith Mallon
Director of Formation for Ministry Dr Christine Gore
Director of Parish Support Revd M Cockayne
Director of Education Huw Thomas

follo
year:		 wing table gives d etails ofthe Trustees who were in receipt ofa stip end and/or
housing
provided
by the S		 DBFduring
Stipend Housing
The Right Revd 5Jelley No Yes
Venerable j Iqbal Yes Yes
Venerable
M Chamberlain		 Yes Yes
Revd I Smith Yes Yes
Revd E M Robertshaw (resigned 31/12/2021) Yes Yes
Revd Fiona Kouble Yes Yes
Revd Claire Dawson Yes Yes
in the d iocese, and the costs were as follows:
2021 2020
E'000 E'000
Stipend 3,021 3,139
National Insurance contributions 255 267
Pension costs 1,013 843
4 289 4 249

TANGIBLE FIXEDASSETS
Unrestricted Funds Parsonages Stipend
Freehold Leasehold Office Fund Fund
Properties Properties Equipment Properties Properties Total
f'000 f'000 f'000 f'000 f'000 f'000
Cost or valuation
At 1January 2021 2,553 46 29,186 2,639 34,424
Additions 1,101 788 1,889
Disposals (526) (480) (1,006)
At 31December 2021 2,027 46 29,807 3,427 35,307
Depredation
At 1January 2021 36 36
Disposals
Charge for the year 10 10
At 31December 2021 46 46
Net BookValue
At 31December 2021 2,027 29,807 3,427 35,261
At 31December 2020 2,553 10 29,186 2,639 34,388

FIXEDA SSE TS INVESTMENTS
Change
in		 At 31Dec
At 1Jan 2021 Additions Disposals Transfers Market Value 2021
f'000 f'000 f'000 f'000 f'000 f'000
Unrestricted funds
Unlisted investments 4,235 609 4,844
Restricted funds
Unlisted investments 7,894 235 (721) 1,113 8,521
Endowment funds
Investment property 4,342 (598) 161 3,905
Unlisted investments 7,733 1,151 (1,636) 958 8,206
12,075 1,151 (2,234) 1,119 12,111
Total 24,204 1,386 (2,955) 2,841 25,476
14 DEBTORS
2021 2020
E'000 f'000
Due within one year
Current year Common Fund 2
Loans to parishes 27 27
Loans to schools 12 13
Other debtors and prepayments 387 96
426 138
Due after more than one year
Loans to parishes 348 375
Loans to schools 63 75
411 450
Total debtors 837 588
15 CREDITORS: amounts falling due within one year
2021 2020
f'000 f'000
Church Commissioners other loans 21 25
Deferred income 15
Other creditors and accruals 540
470 580
16 CREDITORS: amounts falling due after more than one year
2021 2020
f'000 f'000
Loan repayment
instalments		 due after more than one year
Church Commissioners value-linked loans 619 703
Church Commissioners other loans 6 12
Other loans 88 100
713 815
The maturity ofthe above loans may be analysed as follows:
Between one and two years 6 24
Between two and five years 38 38
In five years or more 669 753
713 815

17 SUMMARY OF SUMMARY OF FUND MOVEMENTS 2021YEAR END
Gains and At 31Dec
At 1Jan 2021 Income Expenditure Transfers Losses 2021
f'000 f'000 f'000 f'000 f'000 f'000
UNRESTRICTED FUNDS
General 5,910 5,431 (5,483) 97 687 6,642
Designated
Funds:
Clergy Conference 30 (8) 22
Church House Refurbishment 13 13
Allchurches
Trust Fund		 107 160 (131) 136
Restructuring Fund 7 7
157 160 (139) 178
RESTRICTED FUNDS
Stipend Income 2,125 (2,125)
Pastoral 2,796 73 (20) 332 3,181
Church
in Action		 4,615 142 (315) (97) 670 5,015
Schools 475 106 (108) 57 530
Projects 294 2,173 (1,780) 687
Miscellaneous Trusts 391 9 54 454
8,571 4,628 (4,348) (97) 1,113 9,867
ENDOWMENT FUNDS
Stipend
Fund Capital		 11,573 (72) 437 11,938
Parsonages 31,846 989 32,879
Schools 1,541 221 1,762
44,960 44 (72) 1,647 46,579
TOTAL FUNDS 59,598 10,263 (10,042) 3,447 63,266

SUMMARY OF FUND MOVEMENTS 2020 YEAR END
As restated Gains and At 31Dec
At 1Jan 2020 Income Expenditure Transfers Losses 2020
f'000 f'000 f'000 f'000 f'000 f'000
UNRESTRICTED FUNDS
General 5,350 5,542 (5,398) 148 268 5,910
Designated
Funds:
Clergy Conference 30 30
Church House Refurbishment 13 13
Quinquennial
Costs		 100 (23) (77)
Interim &Assist. Diocesan Secretary 60 (20) (40)
Strategy implementation 65 (65)
Allchurches
Trust Fund		 105 154 (149) (3) 107
Restructuring
Fund		 100 (93) 7
473 154 (285) (185) 157
RESTRICTED FUNDS
Stipend Income 2,148 (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 (4,019) 37 447 8,571
ENDOWMENT
FUNDS
Stipend
Fund Capital		 11,090 (3) 486 11,573
Parsonages 31,478 40 328 31,846
Schools 1,488 53 1,541
44,056 40 (3) 867 44,960
TOTAL FUNDS 58,162 9,559 (9,705) 1,582 59,598

ANALYSIS O F TRANSFERS BETWE EN FUNDS
Unrestricted funds Restricted Endowment
General Designated Funds Funds
f'000 f'000 f'000 f'000
From Church in Action to General Fund fund 97 (97)
97 97
SUMMARY OF ASSETS BYFUND 2021YEAR END
Current
Fixed Assets Investments Assets Creditors Net Assets
f'000 f'000 f'000 f'000 f'000
UNRESTRICTED FUNDS
General 2,027 4,844 964 (1,193) 6,642
Designated funds
Clergy Conference 22 22
Church House Refurbishment 13 13
Allchurches Trust Fund 136 136
Restructuring Fund 7 7
178 178
RESTRICTED FUNDS
Pastoral 2,657 526 3,183
Church
in Action		 4,987 153 (122) 5,018
Schools 451 157 (79) 529
Projects 683 683
Miscellaneous Trusts 426 28 454
8,521 1,547 (201) 9,867
ENDOWMENT FUNDS
Stipend
Fund Capital		 3,429 6,850 1,659 11,938
Parsonages 29,805 3,498 (425) 32,878
Schools 1,763 1,763
33,234 12,111 1,234 46,579
TOTAL FUNDS AS AT31DECEMBER 2021 35,261 25,476 3,923 (1,394) 63,266

Current Restated
Fixed Assets Investments Assets Creditors Net Assets
f'000 f'000 f'000 f'000 f'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
ENDOWMENT FUNDS
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 ASAT31DECEMBER 2020 34388 24 204 2 821 1815 59,598

Pastoral Fund The Diocesan Pastoral account was set up under the provisions ofthe Pastoral Measure 1983.The The Diocesan Pastoral account was set up under the provisions ofthe Pastoral Measure 1983.The The Diocesan Pastoral account was set up under the provisions ofthe Pastoral Measure 1983.The The Diocesan Pastoral account was set up under the provisions ofthe Pastoral Measure 1983.The 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 ofregular
Diocesan employees
to make loans or grants for the provision,
restoration,
improvement		 or repair ofchurches
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
ofparish 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 of England schools in the Diocese. The SDBF is		 Trustee of
these funds, which are managed
on a day to day basis by and in consultation
with		 the Board of
Education.
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 of
the funds. These are as follows:
Queen Victoria Fund
Training ofOrdinands
-Alice Marple Trust
Training ofOrdinands
- Ej 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.
It represents
the accumulated		 sale proceeds of
glebe 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
in the CBFChurch of England		 Property, Investment
or Fixed Interest Securities Funds, or simply held on deposit.

2021 2020
f'000 f'000
Balance sheet liability as at 1January 420 772
Contributions paid (217) (359)
Interest costs (recognised in the SoFA) 1 7
Remaining
change to the		 balance sheet liability' (recognised in SoFA) 7
Balance sheet liability as at 31December 211 420
' Comprises change in agreed deficit recovery plan, and change agreed deficit recovery plan, and change in discount rate
This liability represents the present value ofthe deficit contributions agreed as at
December December December
2021 2020 2019
Discount rate 0.09op.a. 0.29( p.a. 1.19(p.a.
Price inflation n/a 3.196p.a. 2.89f p.a.
Increase to total pensionable payroll (1.5)9op.a. 1.696p.a. 1.396p.a.

not control them. The financial ass ets held in this way may be summarised
as follo		 ws:
2021 2020
E'000 E'000
CBFChurch of England Investment Fund Income Shares 5,754 5,065
CBFChurch of England Fixed Interest Securities Fund Shares 244 284
COIF Income and Accumulation Shares 268 288
CBFChurch of England Deposit Fund 870 949
Other Investments 286 278
Cash at bank 322 277
7744 7 141