Annual Report Financial Statements For the year ended 31Sf Dec 2022 THE DIOCESE OF SHEFFIELD SHEFFIELD DIOCESE BOARD OF FINANCE Company Number: I960SI Registered Charity Number. 24S861 The Diocese of Sheffield is called to grow a sustainable network of Christ-like, lively and diverse Christian communities in every place, which are effective in making disciples and in seeking to transform our society and God's world 11111 *￿(D2VE￿. 2910912023 COMPANIES FK)USE Af2 Sheffield tsit)cesan Board ol FiDa'n¢e-aNK41 rewt and fi￿￿1•1 statements lorthe year ehded JI December 2022 Table of Contents page Forev40rd StrategicAims and ObJ"ectives Activities ahdAthi¢NEments.Iri fheyear Future Plan5 Financial Revi¢W Principal R15k5 and Uttcertainties 15 srru¢tUFe. GovernarKe.4nd.Management 16 Trustees. ReSpO.￿bIlitieS Administrative Details 18 19 Indepe.ndent Ayditors Report StateA*nt of Firwncial Activ.ities Balance Sheet Cash.Flow St4tem¢r Notes to the Firtaneial Statements sheff￿d D'kncesaD P4)ard of tharKe . annu31 feportandhnar*ial statements for th¢ ￿ar ended 31 December 2022 ANNUAL REPORT Tfltstees" who.are algo Dlrectorg forthe" purposts of company lav4. present thEir annval reporL toy"ether withthe audited financial Staterner1￿ forthe yeaFended"31 Oecember 2071 In'signing as Trusteès. they also sign the strategic report sections in their capacityas Director5. Thi5 combined report satLsfies the lega! requifements for. The Direct"ors' ReFQrt of a charitabté tt*mpany The Strategic Report Kinder"the C:ompaniesAct 2006 and The Trustees Annual Report.. under thè Charit4es'Att 20n FORWARD l..am iriymensely proud of the way DBF."staff and clergy and lay leaders"across th'e Diocese have responded to theextraordinary challenges of th.e past. thrèe years 12020-2022). The global.pandemic has been followed by a severe cost of living crisis. and the together have put considerable additional pressure on botPt DBF and parish finance& l am grateful to our Finance Director and other DBF staff for someshrewd stewardship of aur.assety. freeing up significant re5eTves in the process, 3nd"'ft>r embedding.a..whole new accountancy software.which will a.ssist our financial management going fDrward. Equally, i am grateful.to lay and clergy learkrs in our parishes and.mission areas for the generositywhich has meant that Common Fund receipts in 2022 exceeded those we rece(ved in 2021: the firstyear on:.year increase in the sixyears since I bxame Bishop ofSheffield And l am gratefvl to natlgnal church colleagvesfor tPteir cont1nued.in*str￿fttin our Dioce*. T.he Lord has continued to bless our efforts to fvlfil our vision. to grow a sustainab.le network of Christ-like. Jively and diverse Christian communities.in every"plate which are"effective in making disciples and in seeking to t.rarisforn OtsT Society and'.God's world,. It ha5 been gratifying to see the"continued growth. and national ihfluehce, of our Centenary PtojÈct- succèssfulty navigating the transition from first to sec.ond" generation of leadetship".. We h.ave seen the intpgration of the former 5t Peterfs College and Parish sy.pwrt Team into the new Resotsrcing Mission and Ministry team. under the leadership of a newly appointèd Director of Mission"£nd Ministry. Likewise. it has been heartenihg to see momentum growing ac Rotherham minster.anrl St.John the Evangelist, Goole through the SDF-funded projects in those place4 and I thank Godforthe two further church gtafts which took plate"in:202Z to Norfolk Park"&Arbourt.horne and to Totley. It has also been a great encouragement that we were able to fill all .14 #ipendiary incumbeDtyvacancies in 2022. in the process reversing the.decline in the proportion of ferryale incumbents in the Diocese. so that bythe end Df the year itwas close to 30% In 2021 thanks especially to the work of Bi5htsp Sophie: but also to a ne￿YOppOInted DDO. we alsoordained the highest number of .5heffield Diocespn Board of Finance-annual report. and fin4Trcial sfatènxnts year ended 31 DKembe¢ 2022 stipendiarydeacoris QOI anyof us can remeniber. thE influx of new rnissional energy and giftedness gibES me great joy. For these and all his mercies Fnay name of the Lord be blessed aThl praised. e Ri Revd Dr P•te Wlleo& Blshop rfshrfdd. 2022sawthe end'to the V¥DfSt of the physical ¢onstraints brought about by COVID 19, although the scars and losgstill rernain as our worshipping commL4niti?s move forward. The war in The Ukraine and.the consequent impact on both inflation and interest rates has bÈen an. additional challenge felt in our thur.ch communities and the financesof the Diocese. However, although still a significant drain on.our"re50urte& the géneral.fvnds deficit of £l.Im is significantly less than the originally approved budget deficit of £1.9m.ThÈ large'st variance is thè resultof sawngsfrom employing fewer clergy. due tp slower than expected recruitmenL While th.is is a.5hort-term gain it.. 'underlines the strategic importance of thecufates. plpeline for the future growtP) of the Dio¢e5e. We". continue to be supported by the church nationalty. not only with specific .support for our4ow-income Communiti￿ but. also for the growth initiatives we are embarked or4 SLth as the investment in curates. In stewarding the resources entfustedto us are mindftjl that they are finite, but God isnt W"e seek financia15USta"inabilty.for our".inifiatives,'recognising that as• Diocese we need to corne together to support further. those in moieffinancial need. However, our overarching desire Is"to.see Kingdc)ro sustainability and indeed growth. Walkèr. Ch•lr at Sheffield D•￿e$an Board lil finariee Sheffield Dioeesan aoanl of Flnance- arn￿1 W and flnarflal statementsforthe year eryded 31 Detember 2022 LEGAL OBJEcrs The Sheffield Diocesan Board of Finance's fsDBWI princ.ip41 object is to promote. assist and aoknnce the'relwJIovs.ar￿ other char.itabfe woFk of the"Church ofEngland in the Dio¢ese of Shvffield by acting as the financial executtve of the Sheffield Diocesan Synod. The objects of the DirKese of Sheffield co*r JnC>st of the coiinty.of South Yorkshire with small port of the'EastBiding and.one parish in North Yorkshire. The SDBF ha5 the foltowingstatutOFy resp¢nsibilTtie the.managemert ofslth.property and investments to generate Income to. supportthe cost of stipends artsing fromthe Endowmer)t and Glebe Measure1976 the repatr of benefice housRs"as,"the Dio¢e5an Parsonage Board under the Repair. of Benertce Buiklings Meagjre 1971. the.management of.inve5t.ments and the CUgLodian of assets rdating"tO church schools uh.der the Oiocesan Board of E"¢ucatioD Measure 1991 thè cu5todtan of perrnanenr endowment and Ploperty assets relating totrusts held by Incumbents and by Parcchial Church CoLhricils (Pccsl as Dioc¢san Authority under the Incumbents and Churchwdrdens (frustsl Mea"sure".1964 and t"h*Parochial Church Councils IPowers) Measure 19S6. iv. STRATEGIC AIMS ANt> OBJECTIVES The SDBF manages the financial aspects ofth¢ prcwsion of mirtistryNMt.hin the Dioctrse ensuring appropriate personnel andfinancial resources toassist the Di()cesan Syriod. Bishop's C¢xDcil. dear￿je￿and parishes to further the MISS￿ft and strategic pr.￿l(le* Th"e"Oitxese of Sheffield continue& to ensure"a Chri¥ protride resciurcesfor people of all ages and at all stages of their 5plritualiourhey. to grow in.understanding of the Chri5ttan faItt￿. to enga9è attive￿ in local debate andènsure that'christian voices.ardhèard in all. aréa5 of public Irf¢ including Sch￿1* unrversitw.ahd in local communities: ahd tu rnanage diocesan resour￿ effectrvely to meet tbe legal objects ufthe Diocese. In pfomotin9"theNthole Miwon of the church {pa5Èoral. evangeli5tiq social and ecumenical) the TTUStee5 are confKJent Ihaving had regard to Charity Commwion guldancel that SDBF delivers public. benefiL This is achievéd through cc>rnrnun¥ty engagement, resou*cing Èducation and SUPFL)rtin9 those irF need both spiritually and physically. Shefflehj tliocesar* Board of Fiftano- annoal reportand fina￿la1 Aatements for the ￿FEnded 31 Deomber 2022 AcfiviTIES & ACHIEVEMENTS IN THE YEAR Progr•ss Agalnst our Strategy in 2022 In sptte of tr4e continued challengesfoll￿ln9 the pandemicwe have Continued w work throyghout 2022 towards the implementation of cAJr 3Rs Strategy."Renewed, lieleased and Rejuvpnaterf. Ouc prayer communty has continued togroW4 Vlith lJ27 members3gain5t a targèt of Z025 members by 202& We have delivered 6 Deanery Prayer evehts with str￿g levels of engagement. We haile also continued to make progFess against tar9ets.for the Rej'uvenated strqnd ofthe #rategy. The téble.below shows our progress.io date: Thvget ke50uicing Churche5 New Con9regations ShÈffield & RothÈiham Congr¢gations Doncaster New Congregations 5choofs io 12 25 25 We ¢urrently haveS7 authorised Focal Mini￿er$ aeross the DkJcese."This exceedsthe torget.of 30 for t.heyear very promtsing fnr the longer-term sustalF)ability of the I￿rSIght model of ministry. 40 Individual￿ersI9ht Ministèrs7re now licenced on th Iiew style r.01e'de5¢TiPtion. this.coveFs 74 parishe& Assoc"iate Archdeacon5 are proving valuable in SUPKKJrting parisheson the giound to" find ways fO￿ard at)d iFnplement the strategy. Feedback"relating to clergy wdlbeing from engagernentwith their A$￿)ciat Archdeacon 15 Posrti The Siatisticsfor Mission for 2023 Show that there are posttlve signs of $￿gOIng recovery ftom pre-p'a'ndemislevels. Estimatéd attendar￿e including both Onsi￿ and online indicates October 2022 attendance to 83% of 2019 IBvel& Ofthose Nthth dat4 37 ehurches P2%1 experienced gtowth in thÈir w015hipFY. ng community, Sl c.hurches124%1 remained steady." tr￿th 84149%) below 2018. 3achurches P2%J experienced growth in their usual Sunday 4tterkJance. $4 churche512S%I remained steady. with 94 L48%1 below 2018 levels Work support•d by National Church Fundhw. Strat¢* D•y•lppment Funding and Transforn￿rt FAmding The CentenayProject has continued to have a signlficant impact and has goined nat.ional recognltion"as"a model of best practlce. 22 Centenary Project Workersare now In ost, arKI a further5 Fosts will beueated as part of the Di(xese of Sheffield's successfv.1. Revitalisation funding appli&ition inthe next 18 rnonths 7.139 children ar￿ young peo'ple engaged with Cpw-run group5 during Quarter 4 2022 The SDF element of the pToject'forhially ended.in 2022. but a remaining underspend ha& been catried'ronNard into the first 6 morrths Df 2023. From then. Ihe proje£t wll continue in full and is fullyfurKled until"2025 Cwith ori9inal DK)cesan fijndlngl. Future sostair4ability 5heffiell Diocesan Board of FIr￿nCe-aDnUll reFK>it and fi￿ncIal statements forthe >*arended 31 December J022 and expa. nsion option547Fe being explorEd wirh the fyll siippo'rt of Bishop'5 C.ouricil and P'rogramme Board. Both Rotherharn aThd.GrM)le teamswèr?ab￿to buildmomentum in 2021 c￿eTaIl growth inthewotshipping community. engaged disciples ahd new cororegations at both places I￿￿5 slower th.an expected due to the.pandemic- particularly in.Goole ￿t￿re the starting point was much lower- but.v4e.are seeing SC￿e positive..steady grow¢hwith wlid foundation&in place: Good.prayerful plans are in place, bts of missional xt"ivitie5 underwayaDd the relational fringe in both places is thriving wrth links emerging in all aspects nf thurch life. Ihe gr.owth of the relational fringe is a key partof the strategy of.growth in theworshippiry commiinity and.enga9eddisup.les and is a key indkatorof the ¢Jirection of travd. the ciwc role of both.churches became more promir)ent in 2022" Momentum continues to grow and thete 1$ oxcitem. ent in". t¥xh place5 as wè enter the penultimate yeafof ihe Firoject Strategic Trans1orn￿tIl￿ Fundlng The Trahsfortnation programmff - an award Df £4.9m frorn'the Archbi5hops' Countil's Strategie Investment Board in 2020- supwrts our 3Rs strategy. delivew, itis the'rockèt fuel. to help us achivrfe our vision. 2022 rriarkéd.real prc>Jre&* made in delivery. Coathing and mentorirYJ of OwersKJht" Mlnisters I Clergy by Ass￿l8te Ar"thdeacon Tiansitkn En*4er&progressed as we. jourrw. to the new model of miRiStry. The rollout of Unconscious Bias trainlng.to parishes, ¢reaiion"of. Learning Cornmun￿IesIs ￿*11 urKlerway in 4 OLrt"of 6 twinned deanerie& 40 thrsight Ministers afft fK>W IKensedand more der9y recnjiunent is bJndet•vay. Ov"ersight"Leadership"Formati¢Jn Days (replacing Lèading Welll are being positively recelved bsrclergy.'72 Focal M"inistWs ate now authorised" in ii Dut of12 deaneries with 25 churthes actNdy engaged with oui Personal Fiule of Life arKI 253 peopleattending worksho Rècruitment for MlsslonArea.Support team is"alrnost complete and we have.Teceived very positive feedbackfrorn parishes re￿IVing thi9r￿ ce4)rdinated 'centrally employed nd locallydeployed. supwrt. 'The Comriion Fund Revi￿ has bee.n tornplEted and"cor￿l￿ded In light of the current climate- tt has been decided to pause irnpleriientation of anynew system,. thls recommendation was aFproved by the FiTran￿ & Pmperty Committee and Bishop's CounciL This will be re￿￿ed again in late 2023 an¢. be inforned.ty work on triennium funding and ple(Ige. s for2024. sound monitoring and gover￿ance of thewhole program￿ has continued to ensur dellvery of outcomes is kept on track a third positive Delivéry AssuratTr Rewew took plate with nauonal church during 202Z With the introduction of the new Diocesan data. analysc acc.essibilityDf data and how it Is.uimbined hasspeeded up and trartsform¢KI decision.Tnaking.. Thè Dlocese has drawn down £lJm of the £49m StrdtegicTransformationallocated funding to date against expenses iMciJrred. Shefflèld Diocesan Baard"of ￿Nan￿-￿Tr￿￿al rep(Mtand financial statements for..th* ￿ar ended 31 December2022 Edu￿￿01• Church of England Schools3Te a vital partof the work and ministry ofthe Diocese. There are 38 primary schools and I secondary school in the Diocese of Sheffield educating. about 9500 st.udent& The Diocesan Boards of Edtjcation Measure and Dur rest41tant new sche.rne were presented at Diocesan Synod on Z7th Nooen)ber 2021 and passed with no questions ortoncern&-such that the legal Diocese of Sheffield Board of Education {DBE} role is now held by the Diocesah Board of Finance. However, our new .scheme commitsusto maintaining the regular Education Bo.ard. which funrtions. as a cgmmit'tee of the D8F. Elections to.this new structure tonk place in the. Autumn and the nèw body comTT)enced on l5tJanuary 2022. The Diocese of Sheffield Boardof Education (DBEI remains ctjmmitted to thè development of effective collaboration with, and betweert. our Chureh School&. to the celebration of the excellent workthat has been, and'will be. carried out In our Church School% and to the supporting and enrichment of Church Schoo .distinctive offering of teaching and learning withih a Christiah contÈxL Centrallyorganised and provided Diocesan supwrt has returned, Including the 'successful °UndeYstsnding Christianw training which, thisyear. a rohort that mixed, with halffrom church schoolsand half theparticipants working in community schooJ4 located within the Diocese. There has also been a welcome return of other training such as SIAMS Preparation. workshops on Child Spiritual DevelopmenL Ltturgy ahd Worship and our regular Leadership Briefings. The Dioctse is also providing other training in RE for schoclls across the region. Our Dlocesan Schools have contlnued thelr journeys of Impxc)yemenL movlng 'fro'm 85% good or outstanding in January 2018 to 95% good oroutstanding ID January 2023. vrfith schoolsthat were previously graded as inadequate in OFSTED inspectrons of preceding year*now evaluated as good. T.￿eFe are no inadequate schools irtthe Diocese of Sheffield and the remaining'Requires Improveriienv ihilude schools awaitirKJ an inspection to enable them to c14ange that grading. The Dicjcese offers good provision in all ￿.￿h0O1& After a lull during the period affected by Covid. thé Diocese has returned tci @ngagement wth the national prograrrime enablingschools to become .acadeMI￿ 75% of our schools have converted orare in the conversion proce The Diocese of Sheffield Academies Trust (DSAT) and James MontgomeyTrust Sheff￿ld Diotesan Èoard ol Mn•nce- amwl rtport fmanclal staternentsfor the.year ended 31 DRctmber2021 (JMAn continue to be the.two voluntary aided trugswithin the Diocese, along with St Mar￿S Academy Trust15MATI. the trust sharedwtth the Diocese of Leed& DSAT. our Dittese-led trust, now senffts 15 sehools. The.Tru5t is retognised by the DFE as an effective potential partner.in supporting ¥hDol& in difficulty. The Pro￿$5 of establishing 20 to 25 sch¢JJl-based congregations in our churcb schools has Dow restarted.and ¢onvèrsations have commenced about new project& The Board ol Falth and Justice As a Diocèse WE¥ are pas>onat"e ai¥)ut issvesof sccial jLrtice. Much"of thèswork Is co- ordinated thrrm unjust structvies E)f Society, ro challenge violencè of evè klnd and"pursue peocvand reconciliatio T"0 striveto safeguard the Integrity of creat￿n and 5UStainand.renpw the life of the earth. The Board ¢arriEs out.much of.itsartNe business thwough workit)g grou￿, each dedicated to a.specific. area of Salt. and L￿h¢ concern with tetms of TefererKe and metYYbershlpe5tabli5hed tythe Board. Thioughout.the year. the Board played a ¥ital role in promoting social justice,fostering indu5ivity. and supporting the workinggToups.listed t*low. The twrd consists of dedicated indNiduals who worked tiretessly to add.ress pressing issues and make positive.impatt on ihe lives of peopte in the di￿ese. Moreover. the board actively engaged with various adv￿ac4 effort4 both at the kKal'and natior4al level> They voiced. 'their concerns and opinlons on social issue$ Such as racial justice. ehvironinèntal .5Ltstainability, and social justice. By actively participating in dscussionsAnd advocating for change, the t*)ard worked towards¢readng f4 more just and Gompassionate soctety.. Throughout 2022 the.following wtyking grouK6 wereactTr Mental Healt.h Diocesan Resource Group for Seniors IDRGSI Black A5tan and fviinority Ethnic Aryllcan516AMEJ Domentia Poverty& Ine¢uality GlobalJustice Climate Change and EnvironrnenL In 202Z the Dlver5ity in part￿1p3t-￿n group was established in response to the. Archbishor4' Anti-Raclsm Taskforce.Ipublished in 20211. The group" rÈleased"a vision and comrnitment for racial justicèin our d[￿ese. The Dext step i￿"t0 develop a road map of a¢twity to help us achieve thisvisbon. .Work contihued towards OUT earbon nelrtrai plans thTough"the Net Zero Steering Croup: 20 mor¢ churches ach"ievedthe A Rocha bronze level or abovE accreditation 03 8.ronzp Sheffield Oixesan Boorrkof Fknance-pnnual report and.￿na￿li. I Stat￿￿ntsror the par tThded31 tyeymber 2022 nd 7 silverj. The central office also sLknmitted itsapplicatiorn This is expected. to be achleved in 2023. Senlor. Staff Appointmonts The Senlor Stsff team had a'fajrJysready.yEar in terrrsfftJf Per￿nne1change$, trlith minor ment compared to otheryears. A new Chaplain to the Bishop of Sheffdd starred in J4nuary. a move that saw'him move back to Sheffield aftw"threeyears. The ch.ief Executive'offtèr vlent on maternty ￿ave inALNJUSt, with u)ver for the rble beingshared befv4een the Direaor of Communications and through consultanty supportfrom Andy Biookes. Andy. has supported the Diocese.before in 2020.our HR Dirertor left at the end of 202Z Therewas a￿41ttle in¢wernefJt ih.Staffingterms iri Keads.of Oepaitments ?t Church" House. SafAguardlhg Safeguording is a key pri(*ityfoF thè Diocese. In 2023 we"cont"inuedto delivelltainihy both online in person where the need aiose and it was sate to do so..The safeguarding team has been sucee55ful in recT4Jlting to key posts enablesthe team to offer safeguardjngadvite and5upporr to the Cathedral in line v4ith"th"è"sÈrvice level a9reemènt currently being developed. Thp Notional.Past. Case ReV￿W Feport wasfelea5ed in 2022 and SDBF Published ou executive sumrnary in line tr￿"0ther Dioceses. We continue to work on the recommendations underthe guidance Gf the Diocesan Safeguarding.group. Related Part 'The SDBF. vhyk5 c105efy with a range of p8rtnets.aF￿ partie The Archbishops. Council to vth.ich the Diocese pays a donatitin based on an aP.FKJrtionrnent system for funding national uaining ￿OrdInand5 and the activities." of thewori¢us national boards and councits as well as GenerAI Syrtod The Atchbishop¥ Council and Natiorkifchurch 1ri5titirt1on5.frcm which the.SD8F. 'rEceives.9rants and whic.h acts on"behalf of clergy with HM Revenue and C￿$t￿M& The SDBF also" Pa￿ for ckrgystiFend5 through the Archbishop's C(xJncll. The.Church of EnglarKI PensioRs Boar4'to which the SD8F retirem. •nt benefft contributions for 5tiper4diary clergy and employ￿ ItBlso.offers schemes io provide housintyfot dergy in rètirement Voluntoers TheSDBF is deper)dentDn the hugfrnumber of vdunteers involved in church activiti25 both lorally.and at Dictesan level. The SDBF greatly values the considerable tirne'given'by ?11 voluntepTS and particulaty. co)mmittee mernbers across the Diocese in purslAit of rhe Mission ofthe SDBF. No attempt has.bReTr made toquantfy ihis resource. so genwously giver¥. io Sheffleld D￿)teSa￿ Board of Finarte-aNwal ￿pOrt fina￿la1 StateD￿nts fortheyear endèd 31 Detembef 2022 FUWRE PLANS Our"Succe￿ful T.ransformation bid ha5contiriued tobethe k*J* driver of D40cese widè rejuvenation in 2023 aswe emerge from.'the COVID 19 Pahdemic era Thi55trategy ha5 been fy"rfher endor5pd bythe approval of ar)othEr £Sm projert bid to Rewtalise 5.parrshes th a commitmerbt through to 2030_SDBF will partner ih" the furKling of th'is ambitious project. T"he resources t.hat have been made"èvailable"to the DI￿ overthe nertfew year&.will significan.tly stre.ngthen our plans to doliver ourDiocesa(Ystrategy, Thè funds aTe" fotussing on supporting areas of actNty. which" 4*e"hove identifted as keyto our fijture'sustai'nability Wdl supportét'l and nth¥ly •nw4sed clww, six Associate Axchdeacon"Transition Enablers IAATEsl.havo.continued momentumthr¢ugh 2022 they have statfed V￿r￿ in earnest wrthin the zwirlned deaneiies.They have been 5UPPOrting'"cletgy. providing c¢X3ching and"skills development, as they transition to a Mission ￿ea& The AAIE5'hElped to Twnned. Deanery Events irs late 2022, sharing 5torie5 of success from with the area. The team is alsonow t"rialling a loggirrfJ. systèm to trackvistsand type of issue. encovntered tohelp share learning within.the team Fttal Nin'15try.The Director of Focal Ministy ha5 been working within Mi55ion Areas".to hdp to. idèntlfy and devebp potential individual& and.tD devplop team& Re50UEce5 have been updated with.user feedback and theffirst Focal"Ministry teams have now been commissionerj. Some.resourcè5 have already been developed and.are evailable via the Diocesan website*vwwsheffield.angl￿n.0r9tt0caj-Mln1stry. Ughts for ¢hrlsL' We seek to mobilisetha whole people of for ttse Wh0￿misSIon of God. so that every bapti5ed person is enabiedto shinèas a light in the world tothe glory. of G"od the Father. We have s&n huh engagement with ourAdvent.and Lent.courses, developed specffi¢411y for the Li9hts.for Christ prograFhmo TheLights for Christ"Enabler is in postand has been canyny out awRrtness and training events in DeanEries to'help people Uhdersfand disripleship dwelopmenL and the resour¢e5 thatate availableto help them. Theintroduction of a Rule o.f Life. with accamp'anying resource5 ha5 a150 been a key feature ofthe work of the lax. T2 months Mlsslon Area suppo.rt aligning ourtentral services team at Churth House ￿r more" closdy to the.Dio¢esan strategy. we vlill be able to provide direct help to Mission Areas'in relation to finances. gNing and generosity, operat.K)ns compliance. and buildings We belleve these resources w&ll genuine￿ help to Itft the.trwrdèn from clergy artd lay leaders, releasing energy on the groLtnd foi missk?D. R'ecruitmènt through 2022 to key posts in this team was thallènging and stow. Now. the"maior4ty of gppjintments.are made. We continue to"develop wè"mgand rneths)dologiesto.help SUPF)Ort thi5 ministrywlth dat¥ dashboards attd a planned CRM system common will be seeking to deve￿￿ the eurTent Commoh Ftsnd systern so that ItcontributÈs more effeetNelyto the"knure sustainabilty of our Dio¢ese and tbe ongoing l￿'plementatIOn of the strategy. A Common Fund Rewew Gr.oup h.as been meeting regularly, establishing work5tream& consulting MisS￿n Area representatives and commissioning dashl)oard wt)rk to help understand the date, and look for trend& It is likely that a new sys.tem will te considered in Z023. Thiswill build on a first phase revie taken in 2021 thisconcluded that FQSt COVID tetoverywas Still an" importantelement tl)at made im ￿eMentatiOn of a fair sjstem in 2023 extremely diffiGuIt. "The.first six monthsof 2023 will see the following: Sheffield DiocesaTrBoardof FinaKe- rewtaNI financial stateff*ntsfortheyear ehded 31 Deoember2022 The inducting and aligninoof our Mission.Support Teams to suppo.rt Mr55ion Are The ftjrtheriollout of a nw.'Clergy Wellbelng handbook and development of clergy support. services on the Diocesan web5it¢. More Lights for Christ res0uic.es on RulE ol Life. COhtinuedawareDess.events and development of reso.urces Th¢ commissioning offurtlier Fotal MinWteams The JdoptKJn ofo Mith Area Support request systèm tc enYJre requerts are sent to the correct teams ar)d rnor4itored central The launch of phase one of the CornrrK)n Fund Reviewgroup work A Diocesan Conference (earlyjuty be an important m41estone in the skrategic. journey) In particularwe have planned-. Inductiort of the Mi55ion Anance Support. TeaFTr and th¢ Church Buildings Support Team. setting eaTly prioritles A tound of LLF courses ran byt¥ained practitior￿Kg in che deaneries. Continued work on the Common Fund.Review proiecL with a June rolbut of phaseone Continying toembed hfvid-wothng patternsin'churth House. looking at cotitrattual changes. establishing patterns ofwor.4(in9 and in5ts11ing tWo.hybrid 1)leet4ngs￿erns in theCon"ferenee ar￿ BoaTdRooms FINANCIAL REVIEW 2022 has seen a.fraOlle recoveryfrom the irnpaet of the COVID par￿ern￿ with parishes O￿"uSt1ng to.a new normal. Plotting a.course through this un¢ertaintyhas been furrher unsettled by the impact.ofgl¢*al economic pressure>.The contributions from parishes hove been under severe pre55urewrthihe Steep. rise ir4 ener9y prlces and rè-enier9ence of Infiatlon'to lewls not experienced in 30yea Against this broad backdrop the has'tt•ntained costs wherever po5gible WIE recruitment lagging behind the agpiratlorfis but helping reduce costs, Clergy 4nd staff costs rose pritsr to the mainsurge in"inflation experienced in the lat8 autumn of 2022 an¢ budgetswere sèt for 2023 based on a 5% rise in these core cost In 2022 the Archbishops'.CoUncil annOur￿ed the allocation of.Q.2 billion.available Ove'rthe per!od.2023-2025 with thls ot funding to bè rnaintained. (iver the foll￿￿J 6years This Q.6 billlon of funds bwll be availab￿ on a b¢d basis for specific purpxts.es. Sheffield Diocese Is curtenrly working to ¢)btsin our share but thisiryect.ion olfunds into the life of Dioce5è5 around.theUK has"FK>tentialto be tTan5formatj￿￿. "Our Dicce5e remains a relatively poor Dioce5ewith lirnSted resérves, but our suprKJrt.'ers are.generou5, and we remain grateful for. the participatK)n in the finaritial needs'of the Dioeese.expTessed in Common FundC(5Dtribut1o￿ The 2022 C(xrmon F"und rontributions totalled £3.4m f2021- £33ml this coupled.with a E3.6rn F4od9e received for 2023 startsxo turn the de¢lIr￿ experienced ir) the pandemic per.it)d. 12 Sheffield Dtocesan Boa￿ of FlnanEe" annual reportand financial statemthts forihe ended 31 t)erember 2022 We cah￿t Ignorethp broa.d uncertainties of the econ¢)mic 0￿169k and the irripatt thls will have on our donor base andaccordingly we have invested in Wemsihat significantly.enhance ou¢fciFecasring abilitie& The Diocese reeeives a variety of funding. stream5"'representing a tapestry of generosity"bLrt also a risk profiltr..Our rè¢ent sUC¢essfv" I Revltalisation bid is a comrnitrhent with substantial National Church st"retching to 2D3Q. Ih 2023 wie shall be modelling the impatt of allfundirTrgStrearDS and the combined risk impart. onouT'sustainability Net expendi¢ute of general unrestrict.ed reseNes"before inve5tffjent gairis ￿.Irn against a planned deficit of £1.9m. our.wlor year 2021 deficit was sutstarrt1a1￿. covwed by. the generi?sity"of the National Church. D[￿eS￿reServeS have been kJtllL%ed to cover the sh.ortfall in operatiiigcosts created in 2022 but we are keenlya1￿dre of the limrtations on our free reserve% Asignihcant d￿nent of ¢￿rfundlng isfecewed from theN￿hbi5h0ps. Council £4m [2021 - £47ml acrc65 a number of projects This include5 Lowest Income Communities fvndirg of £1.7m (2021- £7.7rt1I which we haveallocated to supwrtmission and ministry in pa.rlshes.where.they have ranked in the lowe# io% ofour Cioce5e in terms ofSocig1' Delyi￿dt.10tt indke& The Transtclrmatlo￿CapaCIty and ResourciTV4 Churches projetts are included in thése ArChI￿ShOps. Council fund&These projects svpport the ongoirFg Strateg￿ development rf the DiLKèse and ettab￿ us to reach new and diversecommunrtie& We also reteived a grant of£75,CM)O frorrÉ the Sheffiekl Church BurgessesTrustwhich continuesto support work a¢r055 the sheffield Deaner.iès. Income from investnientsarid rental incgmevrfa5 largèly in linèwith expectstion. Cg5ts in 2022for Resourcing Mission and.Mini#ryinctrea5ee r@pa￿￿ble if the properti&thEre sold. 131 December 2021., £7.9ml. Designated Funds. The Trustees may de￿gnate an elemenLof Urirestrirted Funds for an agreed purpose wh'ere"t.hls is COn￿dered to be appropriately linked tp a partirvlar objective. Th'e need fow the fund 15 revigwedat least oncea year and funds rèturned to Free Reserves if no longer required. In our revised reseNes policy. are takin9the pproach to limit the use of rle5tgnated.fvnds. As a¢ 31 December2022 we h4d I designatecl fvnd with a value of n."Oou. (3l"December 2021: 4 designated"funds totalling fj78.000.5 Details of all de5ignat"e4 reStr￿ted an¢ endowment fundscan be tound ift note5 17 to 20 ofthe accounts. Thè Dlocese of Sheffield is dellghted to£onfirm that it has no dlreéLlnvestments In fo&sll fuel companie& as has been the easefor 50rne.timè. FolJovAng a rrieeting ofthe Bishop. CoufYciL it'ha"s als0￿MmItted tonot reinvesting In therri in the future. Grant klaking Pollty The SDBF's"Memorandum of Assttiation expficitty perrnits the SDBFto"tfiake grants in pursuance of ts obJecr& The GFants Committee meets anrnual￿ trt.variou5 aspects of ministry includingshort ter￿panSh support.staff contribut1on&and.event.suppo￿ The5e.grant aWa"fdswere COr￿ystent with the aims and object1￿ of.the"SDBF. 14 fr￿Id Dk)cesaThBoard of.Flnahr%-abnual reportand f•Mndal #atemefttsf0rt￿e year endEd 31 Oewn"ber"2022" Fundraising The OBF doe5" not.attiveJy erKJa9e iftftirKlraising 8Cttvitie& Invéstment Polky Thè.SDBF"i&empowèred bj itè MemoTandum and Articles of Assoclation to inV*rrtonieF" not immediately required forits purF¥)se& In addition. the 5DBF acts as TrLtstee"of a numbor ofTrust Funds. and these must be investEd In accordance with the related trusts. TheTrustees.' jnvestrnerf policy B to hakl all restricted and endowed invéstmentsin C8F' FurK15. CC.LA Investment Management"Ltd have been instructO to apply an ethical screen tD the portfolio.which preclude5 direct investment in companies.tthich.have more than IO% of their turnov8r in arri)amèhts pornoOraph"y Of tobacco. most.nf the SDBFS other investments continue to.be h¢ld IF) the CBFChurch of Englan 'Funds managed k)y CCLA Invwmeot lrfan749emènt Limited. The Finan￿.aThd Propertycommtttee regulqrly revith5 the perf¢)mance ofthéfund5 and rnakes deci4ons on ir4vesEment& In.2023we viill be.¥¥orking with CCLA on a full r￿leW of .invesiments held by SDBF. PRINCIPAL RISKS AND UNCERTAIKllES The Truxees are resF)onsible for the identification. mttigation andlor ryianageinent of risk. To a¢hieve thi5, a r.e9iSter of all the nsks identified is maintsine(L The register is Teviewed bythe Trustees at each Bishop's Council meetin9ar*d a&0 at.each of the Flnance & Proporty. C"ommthes. The responsibilityfor delivery ofthe miti9ation.stfategies jdeOtTfied is delegared ta the Dioc.esan Secretary The risk register identifie5 ar&3s where the riskof eitherfailure to act or th'e impact"ofthe vents.is considered signli IcanL Risk areas hayE been reviewed at Heads of DepartTnent. Finance and propè.rty Commrttee and Blshops Council: GO￿rnance/stra￿9i<.statr, FinaDcial Ilncome/expEfKliture); Reputational: StatutorylLegal 3nd.Opefational. These ti5k areas and.the associated rrfitigation strnegie5 are summarised: Hnan¢••l Pisk.of underciated whth the companiesAGL Tr.USt￿5 are required to make a dedaTrtion th?t they ale not barred from being 4 Cc#mpany 01￿ctor ar￿ rnainrain.th"eir entry ih the recoTd of declara¢ion5 Ot interEsL Trtsstées appointrnents 'The Reverend Canon M Rhodes {Fio. m 1st Jan 202¥ The Reveiend EH 5¢e¢le (From 27th Jan2G22J Emoluments.of higher-paidempk)yees are determir*ed by a ￿se of a FX)5itioning scale for the.grading of F*)St.& Salaryind stipend uplift ¢lecisions are rr)ade arTnuBIIy.Pald-in April Iclergyl and ju￿ IDBF offvrs 4nd staffj. 17 she￿k1 Dtoce5an Board t)f fnano-annthil rep(rtaNI fjnBncial tstements for the ended 31 Elecernber 2022 TRusfEES' RESPONSIBIUTIES The trustees (who are also'dlrectorsof SDBF. for the pu.rpcses.of company lawl 4re' e5ponsible fr)r preparing the Trustees. Rep)rt.and the" ff hancial statements ih accordanc wlt.h applicalge law and United Kingdom h£counting Standards.IUrrited Klngdom Genera15yA¢cepted Accounting Practice). Companylaw requirE5 the tru5tee5fo prepar&financial statrments for each financial year w.hich give a true andfair VI￿of..the state of affair5 of thetharttablp compary and of the incoming resources and applic?tion of re501Jrces, including the income ahd exppnditure, of the eharitatle comparyfor that pe.riod. In weparing these.financ4al statement4.the trustees are requlred t Sdect'suitable.accounting po.licies arKI apply t.hem corts*ently Observe methods and prI￿lpleS in the Charities SORP {FR5102"1 Make judgempntsand estimates that.are ra￿anable.0nd prudent State v¥hethef applicable accoontiro standards have bÈen followed. subject to any rriaterial departuresdisclosed and explained in the financial statements" Prepare the financial statement5 on the golng concern.basis unJe&s it i8 Inawroptiate to a55Umè t.hat th.e Company will eontinue in operation The"Tru5t•esaVe.abv responslble for keepln9 proper accounting rerords that dis¢l¢xe with re45onabl¢ accuracy at any tirrierh¢ financial posrtron of the SDBF and enablk them to,ensurethatthe financial statements cornpty with the Companies Aet 2006. They arp Iso resportsible for safeguardirKJ the assets of rhe SDBF ar)d hente foftaking rèasonable Steps for the.prevenrion and detection of Tra￿1 aTld other irregularit ThèTrustees are responsible fow the rhaintenance 3rKI.integrlty of the cor.porate ano financial information iA¢luded in the SDBFswetysbte. Le9islation in England and Wale5 governing the preparatlon and dissemination of financial ststements and other inft)rmatlon.included in An"nual PeF4)rts.may drffer from" Jeghslation in ¢xher JurN4ict.ion& STATEMEKf OF DISCLOSURE TO THE AUDITORS Saffery LLP have been"appoirted as.auditOTS to SDBF inthey•ar and have expfossed thelr willingnes5Qo remain in office. So far.asiheTTUStees"aie awaTè al. there is no relv4ont audit information of whicfvthe Charitable companys auditors are unaware, and.. bl we havetaken all The steps that we ou9ht to ha￿ taken as Trustees in ord.er 10 make ourselve5 aware of any relèvant audit information and co eStat￿lsh that the charir.ab ¢ompanVs auditors are avr4reof that"inft>"rmatioO. Sheffield Dioce54nBoard of Flnano- anN•l reportand finarKiaLsWemEnts.lor th¢ VE4r gnd¢d31 Qecember 2022 ADMINisfRATIVE DEfAILS NoTr.ustee had any beneficial interest iTrthe eornpany"during 2022. The followrng Trustées woreln p05t azthe dale of'tbis reporL' Prèsldent Chair Deputy" Chair other Directors The Right Revetend Dr PJ Wilcox IG.Walker MSG MACEng. FIET"" N Birc.hen"all JA Butcher MA ICanEabl. MSC. PhD Ver4er4ble M L Chamberlain BA. BTh. Mphil IR Downlhg Thevenerablej Iqbal The Rl9ht Reverend Sort¢ieJellvJ Th"e Reve￿nd F Kouble M MacDonakl IJ Newton BA. FC4 Lay CarK)n" P M RainfordfvlA- The Reverend ! Smtth.B The RevereTKI EH Steele IFrom 27th Jan 20221 The Reverènd Canon M Rhodes (From ist Jan 20221 5ecret4ry Reg.iSLered office K Bell 95-99 Effingham Street Rothèrharn $6SIBL VirglA Money" Saffery Lt C,CL4 InvestmEnt Managemtnt Ltd SHvlls..48 Bootham, YotK Y030 Thz "Eccbslastical Insurancè Bankers Audttors Investment advisèrs Gtebe Agents Insurers In aPpr￿rIg thr8Trustees'. 14eport, the Trustees.are aJso3pproving thè Strategk Rep.ort Included on pages 3-10 withln rheir capacityas company direc.to BY ORDER OFTHE TRUSTEES lan Walker Katie Bell A& Spoetary hair Date 21 /7/2J Date .SheffiEIJ L￿ocEsan 8oardth FlroKe.-annual report ￿a￿oIStatsmeThts" forthe ￿lf.endQd:3l D￿rnb￿r.2022 INDEPENDENT AUDrrows REPORTTO TrIE MEMBERSOF SHEFFIELD DIOCESAN BOARD. OF FINANCE LIMITED Oplnion 'We have audited the financial statements of Sheffield Di¢xesan Board of Finance Limited forthe year ended ￿ December 2022 which comprise the Statement of Financial Activitie4the Income and Expenditure Ac¢ounL the Balance Shee¢ the Cash Flow Statement and notes to the finan.eial state"mÈnts. including a summary Df significant accounting policie& The financial reporting framework that ha5 been applied in their preparation is applicable lawand United K.ingclom Accounting Standard% including Financial Reporting standard 102The Financial Reporting Standard applicable in the UK"and Republic.of Ireland (United Kingdom General￿￿cepted Accounting Practice).. In our opinion. the financial statements give a true and f8irTrAevl of the state ofthe c.h•ritsble compan￿5 affairs?s.at 31 Decèmber 2022 andof the charitable Compan￿.5"nethiOvernent in fund4. including.the income and expenditure. for the yeaTtheM ended,. "have beèn propertrprePa￿ in accordance with Unlted Kirjgdom Cenprally Accepted Accounting Practice.. and thavp beeh prepared In acCOrdan￿WIth the requlrements ofthe Companies Act 2006. Basls for oplnlon We conducted Uuf audit in accordance with Intemational Stafwjards on Auditihg (UK) IISAslUK>I and applicable law.our Fesponsibilities under those standards are fvrtherdescribed in the AudIt￿'S responsibilitie5 for the oudit of the financial statements section of our report. We are indetsndent of the charity in ect.ordanee with the ethical requirements that are relevant.to our audit of the financial statements in the UK induding the FRC'S Ethical Standard. and have fiilfilled our othèr ethical respDn5ibilirie5 in accordartce wlth these r.equiremènt& We believe that the audit evidence ￿￿ have obtained is sufficient an appropriate to proyide.a basis for our opinion. Cvncluslons r•latlng to going concem In au'diting the financial staterryeryts. we have concluded that the trusteeg usé of th'e going concern basi5 of accounting irlthe preparation ofthe financial St.gternents is appropriatè. Based on the V4￿rk we have Perforn￿d. v* have not identified ary material uncertaintie5 relatiog to events or conditions thaL individuauy or co'llectively, may cast significantdoubt on the charitablè companys ability to continueas ?.goinu 20 5heffidd Diocesan Board of FinarKe￿anfiu￿ rep)rt and financial statements.fortheyear.ended3"1. December 2023 concern for a perio¢ ef at least twelve months from when the financial statements.are auth'oriSed fot iS5ue.. Our respun5ibilities and th? reswnsibilities of the trustees with respect to going concern are described in the relwant sectio.ns of this report. Other infonnation The trustees aro respon%￿lefOr the other information. The other information compri*s the.information includéd in the Annual Report Our opinior( on the financial statements.does not cover the other inforrnation artd, except to the extent otherwise"explicit￿ stated. in our repor( we do not èxpress any.form of" assyrance conclusion thereon. In.cOnnectionwith ouraudit of the financial ststement4o14r responsibility is to reaKI the other information and. in" doing so. considermthether the othe.r informat.ion is materially inconsistent with the"financial statements or our knowledge ob'tained in the"audit or otherwise appea￿ tg. be materially rniWateoL If we.identify such material inconsistencies or ap.parent rnaterial mi55tatements we are required.to determine whether there is a material rnisstatement in t.he financial staternerkts or a rnaterial misstatementof the other""information". If. base.d on thé work we have perfDrme"d, we conclude that there isa material mlsstatement of t.his other informatior4.we are iequired to reportthat facL We have nothing to report in this rogard. Oplnlons Oth•r matters pr•scrJb•d by the Comp4nies Act 2006 In our opinion. based on the work undertaken in the course of the audiL' theinf()rmation given in the Annual keport (which includes the strategic rep)rt artd the diiectors. report) ft>r the financial year for which the financiBI statements are prepared isconsistent wrth thefinancial .'staterrients,' and the strategic reFX)rr.and the.directorg reFMXt have been pre. pared in accordar)ce with applicable legal requirements. Mqtterson whlth w• ar• requirod to report by•xception In thè light of th• knc￿edge arKI understanding of the cha¢it8ble company and its environment obtained in the couwse of the audiL we have rtot identified material misstaternents in the Annual and Strategic reporL We have nothing trj report in respect of t.he follnwing matters ih relation to which the Companies Act2CKI6 requires us to report to you if, in our opinion:: . adequate accounting iecords have not been kept. or retums adeqtsate for. our audit have not been received fr<>m branches not yisited by'u% or zi Sheffteld Dl(Kesan Boaryl of RnarKe- arThial rnp(wt angl fir¥htv41staten￿Thts for the ￿•r enthd 31 December 2022 - the financia'l statements are notin agreement.with the accounting records and return¥, or - certain disclosures of.tr4JStees' reMuner￿10n speclfièd. by. law are not made: or . we have not received" all.the information and explanations we Fequire forour Responsbl illtles of ttustees for th•finanelal statom•nts As explained more fulty in the trusteeg reswnsibilities statement Set out on Pages l& the trustees Iwho are alsothe dirertors.of"the charitable company for the purposes of company.lawj are ¥e5ponsible ftjr the preparation of the financial statements and for being satisfied t"hatthey give a true and fairview. and for such internal ctsntrol as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstat.ement. whether due to fraud or error. In preparing. the financial statement4the trusteesare ￿5P)nSIble forassessing thE charitable compan￿5 ability to continue a5 a going concern. discl¢)sing. as applicable. matters related to going concern and using the g￿ng concem basis of accounting unless the trustee5 either intend to. liquidate the.charitab pary or tO.￿se operations. or have.no realistic alternative bul. to do so. Auditor's responsibilltles for th• audit of the Ilnanclalstatements Wè have been appointed as auditors undpr the Cpmpanies Act 2006.and report in ac.cordance with regulations made under t￿at Act Our obiectives.are to obtain reasonable assurance about whether the financial sratements as a whole are free from tnaterial misstatement whether due to.ftaud or error, and to issue an 4uditor's report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee th'at an audit conducted in accc6rdance.with" ISAS {UKI will always detert a material misstatement when it exi M isstatements can arlse from fraud or error"a.nd are considered material if. Individually or in the aggregate. they could teoSGn3b￿ be expected to influence the economic decisions of users takèn on the basis of these financial statem'ents. Irregularitie& including fraud, are instences ofnon-compliance" with laws and regulatiorts.".We design prO￿dureS in line with our responsibilities OLrtlined "above, to detect material misstatements in resFect of irregularitie4 including. fraud. The specifie procedures for thisengagemeht and the extent to which these are capable of detecting iiregularities. including fraud are detailed below. l¢lentifylng and assesslng risks related to irregularities. We assessed the"susceptibility of the.charitable compan￿$ financial 5tstements to" rnBterial misstat.emeThtand how fraud might occur, including through discussions with the truste4di5cussionswtthin our"auditteam planning meeting. upd.ating our tecord of internal controls and ersuring these controls 22 .Sheffleld Dioc.e5an Board of Finan¢e.-annual reportondflnarKial tstemènts"ft*rthe ￿are1￿led 31 Oecember 2022 operated as intended. We evaluated possible iricentives and opportunrt.ies for fraudulent manipulation of thefinancial statement& We Identified laws and regulations that are of significance in the context of the charitsble company by di¥ussionswith trustee5 and updating our understanding of the sector in which "the £hatitable company operate& Laws arKI règulations of direct signfficance in the contexi of the charitable company in¢Lude The Con)panies Act 2006,.and guidance issued by the Charity Corrtmi&ston for Ehgland arKI Wale&and the Church. of England Measyre We"considered the extent of tompliance wlth these laws anrl r.egulations as'part .of our audit procedures on the related financial statetnent items including a. review of fjnancial statement disclosure& We reviewed the charitable coMpan.￿S records of b.reaches of laws and regulatit)ns. 4ninutes of meetings and correspondence with relevant authorities to identify potential rnaterial misstatements arising. We discussed the charitable company's policies and procedures for compliance with laws aryd regulations with rnember.s of tnanagementresrtjnsible for comp'liance. D.uring'the planning meeting with the'audit tearrl. the engagement pJrtnerdtew attention.to the keygrea5 vthic.h Might involve non-compliance with law* and re¥ulationsor fraud. We enquired of management whether they were aware of any instances of non-compliance V￿th laws and regulatio.ns or k"iiowledge of any aoual, suspected or alleged fraud. We addressed thè risk of fraud through rrfahagemen't override of controls.by testing the appFOPTiateness"of journal entries and identifying any significant transartions that were.unusual or outstde the normal course of busines& We.as*ssed Wheth￿ judgements made in making accounting estimates gave rise to a Possible indicatN)n.of management bias. At the completion stage of the audiL the engagement partners revlew included ensuring that the team had approached their work with appropriate profe5sianal scepticism and thus the capacity to identify ncJD-complIar￿ wit.h lavts.aryd regulations"and"ftaud. There 4re.inherentlimitatioris in.the audit prowluresdexribed abOVe.ar￿ the further removed noncompliance laws and regulations 1s.from the events and transactions reftect.ed in the financial statementy the less likely we would become aware of IL Also, the Tiskof.not detec.ling a material misststement du'e to fraud is higher than the risk of noidetettirq one resolting from error. as fraud may involve deliberate concealrrtent by, for example, fr>rgery or intent￿nal rnisrepresentations or through collusion. Aojrther descriptlon of our res￿nSIb.11it1esfof the auditof the financial staternen.ts i* located Dn the Firl4ncial ReFQrting Councifs website at V4swIArooTg.uWauditorsrespon5ibilitie5. Thi5 description forms part of our auditorfs repon 23 Sheffield Dlocesan Boprd of Fi￿nCe-ann￿l rRport and financial ststements foTthe.year ended 31 December 2022 Use of our rèport This report is made solelyto the eharttabfe compaws members ?s.a body. in accordance with Chapter3 of Part 16 ofthe Companies Act20D6. Our auditwork has been undertaken so that we might skte to the charitable compan*s mÈmber5 those matters-we are required to state to them in an.Audito¢s report" and for no other purF)ose. To the fijllest extent permitted by law, we do not accept orassume responsibilityto anyone otherthan the charitable company and the charitable.compan￿smernbQTS as a tM)dy. for our audit for this report, or for the opin￿nS we haveformed. .Sally Appletan.(SeN•r Ststutory Audltor) For and on behalf of Saffery LLP. Statutory Audltor North Park Road Harrogat• HGI 5PX l fij 2023 24. 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