IOCESE t VISION2026 BLCICLBVRri HEALTHY CHURCFIES TRANSFORMING COMMUNITIES TI11 CI-IURCFI OF CNC,LAND IN I ANCASI IIIIE The Blackburn Diocesan Board of Finance Limited Annual report and financial statements Company limited by guarantee (no 225457) Registered charity (no 247647) Date: 31 December 2022 The Blackburn Diocesan Board of Finance Limited Annual Report and Financial Statements For the ear ended 31 December 2022 Contents VISION STATEMENT....................................................................,........,.,,.,.......... LEGAL OBJECTS...........................................................,....,.,...,...,...................................................................... STRATEGIC REPORT..........................................................,.......,,.,.,................................................................. STRATEGICAIMSAND 08JEcfivESFOR THE YEAR............................................................................................. ACTIVITIESANDACHIEVEMENfs IN THE YEAR....................... ............................................................................. FUTUREPLAN5.... . .........................................................................-.................................................. FINANCIAL REVIEW................................................................................. ............................................................ PRINCIPAL RISKS AND UNCER TAINfiES.............................................................................................................. 11 STRUCTURE, GOVERNANCE AND MANAGEMENT..........,..,.,..,,.,....................................................................12 SUMMARYINFORMA TIONABoufTHESTRUCTUREOFTHE CHURCH OFENGIAND.......................................12 ORGANISAfioNALSTRucfuRE............................. .12 DIRECTORS, RESPONSIBILITIES.. .1$ STATEMENTOFDISCL05URE TO THEAUDITOR5............................................... .15 APPOINTMENTOFAUDifoR......... ...................................................................................................................15 ADMINISTRATIVE DETAILS...................................................................................................,,...,.,,... .............. 16 A ￿ENDANc£OF DIREcfoRSATMEETINGS IN2022......................................................................................... 17 INDEPENDENT AUDITOR'S REPORYTO THE MEMBERSOFTHE BLACKBURN DIOCESAN BOARD OF FINANCE LIMITED..........................................................................................................................,.,,.....,.,... .18 srATEMENT OF FINANCIAL ACTIVITIES..............................................................................,.....,.,..,..... ..... ..... ZI INCOME AND EXPENDITURE ACCOUNT............................................... .22 BALANCE SHEET......................................................................,......,.,......,.,,.,......,.........,..,............................. CASH FLOW STATEMENT............................,....,.......,,..... .24 NOTESTO THE FINANCIALSTATEMENTS....................................,... . .25 Page 1 The Blackburn Diooesan Board of Finance Limited AnnLial Report and Financial Slalemenls For the ear ended 31 Decembei. 2022 VISION STATEMENT Vision 2026 is an agei)da foi. growlh and change lo see'Heallhy Chureh8s Traiislo¥rning Cominunilies. across Ihe Dio¢ese of Blackburn ill OL4r cenlenaiy year of 2026. Tlie Vlsion was launch8d iii 201J when Ilie Diocese of Blackbiirn made a bold slr3legiL decision lo change and to grow Ilirough Ihe priorilies ol.. Making Disclples for Jesus Clirisl . Being Witnesses for Jesus Chiisl . Giowinq Leade18 for Jesus Clitisl . Priorilising Work Amoiig Clii5dren, YoLing People and Scliool5. Over the course of 2020 Ihe Dlocese engaged in 8'Vislon Update, through which we soughl lo idènlily what is going well aiid where the chdll&iige& ale as we seek lo ￿alIse oiir Vision of seeing 'Heallhy Churches Transforming Cornmuiiilies. Our updated Vlslon 2026 building block5 are-. Maklng disciples of Jesus Chrlst Knowing the Scriptures beller and equlpping confident Christian disclples Praying with greater depth and Ljrgency for the Kingdom of God lo come Offering worship in Splril and truth through the minlsliy of word and sa¢rament Giving generously ol our lime, talents and money to the cause of Christ Being wltnesses to JesLlS Chrlst Sharing the Gospel wllh confidence Enabling human Ilourishlng through social action Planting or renewing 1 Q slralegic church plants and 200 new congregalions Caring for God's ¢realion Growlng leaders for Jesus Chrlst Developlng a diocesan-wide oullure of vocalional discernment so that all may hear God's call and use their gills in the service of the Gospel Discerning and forming theologically lilorate lay and ordalned leaders, rooted in prayer and with a deep love of the Lord Jesus Nurturing healthy partnerships betw?en clergy and laify by fully implementing the Lay Ofiajority Ministry Framework Generating a pip¢line of highly motivated deacons and pries15 order to enable the Diocese's clergy deployment strategy Insplrlng chlldren and young people Nurturing children and young people in their lallh and supporting them as disciples of Jesus Christ Holding regular worship that is ac￿sSIble and appealing lo children. young peoplè and their families. Enabling growth in the numbers of leaders of Ghildren and young people Pursuing a slep change in work with those aged 11-16 Facilitating effecb.ve partnerships between churches and local schoo15 The Diocesan Vlslon Prayer Heavenly Father, we embrace Your call for us to make disciples, lo be witnesses. lo grow leaders and lo inspire children and young people. Give ijs eyes to see Your vision, ears to hear the prompting of Your Spirit and Courage ID follow in the foolsleps of your Son, our Lord and Saviour Jesus Christ. Amon Page 2 The BlackbLirn Diocesan Board of Finance Llmlted Annual Report and Finan¢ial Slalem&nls For Ilie eai ended 31 December 2022 The Directors of the BlaekbL)rn Diocesan Board of Finance Limited IBDBFI, who are the Trustees for the purpose ol charity law, piesenl their annual reporl, together with the audlled financial slalemenls, for the year ended 31 December 2022, The diieclors and Iruslees are one and the same and in slgning as trustees they are also signing the strategic report se¢lions in their capacity as directors. This Combined report salislies the legal requirement for.. Dlreclors, Report of a charitable company Strategic Report under the Companies Act 2006 and Trustees Annual RepoTI under th8 Charities Act 2011 LEGAL OBJECTS The BDBF'S principal objective is lo promote, ass1s1 and advanc& the woik of the Church of England, primarily bul not exclusivtrly in the Diocese of Blackburn, by aGling as Ihe Ilnancial executive of the Blackburn Diocesan Synod. The BDBF has the following stalulory functions.. The BDBF has responsibilily for the management of glebe property and investments lo generate income lo support the cost of stipends. 11 is the Dlocesan Authority for paTochial and other trusts and incorporates the functions and responsibilities of the Diocesan Parsonages Board. The BD8F is cuslodlan trustee in relation lo PCC property. STRATEGIC REPORT STRATEGIC AIMS AND OBJECTIVES FOR THE YEAR The main role of the BDBF is lo identify and manage thè financial aspect of the provision of the ministry within the Diocese, so as to provide appropriate personnel and financial resources lo assist the Diocesan Synod, Bishop's Council, deaneries and parishe5 to furlhgr the mlssion and slialegic priorities in the Dk)¢ese. Vision 2026 is an agenda for growth and change lo see 'Heallhy Chur¢hes Transforming Communities, across the Diocese of Blackburn in our centenary year 012026. The Vision was launched In 2015 and over the course of 2020 the Diocese engaged with a 'Vision Llpdale. lo identify what is going well and the challenges we have in realising OUT Vision. Th¢ next phase of th6 implemenlalion plan is available from our website al.. hll S..1￿v.bI3Qkburn.an licark.or Ivision-u d81e. The Directors are aware ol the Charity Commission's published guidance on the public benefit requirenienl in general and, more particularly. in 'The Advan￿ment of Religion for the Publrc Beneliv and liave had regard lo il in their adminislralion of the BDBF. The Directors believe that, by ¢arrylng out these obje¢lives and in promoting the work of the Church ol England in the Diocese of Blackburn. the BOBF helps lo promote the whole mission of the Church Ipasloral, evangelistic, social and ecumenicall more effectively, both in the Dio¢ese as a whole and in its individual parishes, and that in doing so il provldes a benefit lo the public by.. providing facilities lor public worship, pasloral care and spiiilual, moral and inlelle¢lual development, both for ils members and lor anyone who wishes to benelil from what the Church offers,. and promoting Ghrlslian values, and service by members of the Chuich in and to Ihelr communities, for the benofil Of individuals and sociely as a whole. Page 3 The BIAckburn Diocesaii Board of FSnance Limited AnNu81 Report and FlnanGial Slalemeiils For the ear ended 31 December 2022 ACTIVITIES ANO ACHIEVEMENTS IN THE YEAR Vision 2026 ConS￿st5 of the four major building blocks of Ihe Vis1on and activities planned against each.. Making Disciples including.. Developing Whalley Abbey as a cenlrp lor Christian Discipleship and Prayer with a resident praying communily Enabling spiritual dlrection lo be available lo all, lay and ordained, across the diocese Production ol diooesan seasonal daily devotional resources Further rolllng out of the national Parish Giving Scheme and providing advi￿ and training on the effective use of conlaclless giving ancl online giving. In relation lo our main objectives of Maklng Dlsclples of Jesus Christ we.. Have added lo the Making Disciples Team for Ihg diocese, including a new Stewardship Resourcing ONlcer funded by the National Church and a Making Disciples Coordinator. Produced Lent and Advent Devolionals with a 10, 000 circulation cil this high-qualily resource. Hosled regular relroals & courses al lthalley Abbèy including individual and guided relreals, walking, healing and quiet retreats as well as festival ¢tslebralions and suppeT clubs. Built on the progress already made with ¢onlacUess giving and providing training & advice on digilal giving. Take up by parishes of the Parish Giving Scherlle continues lo be encouraging with progress being made towards the largel of Jfo% of parishe5 signed up by 2024. The introduction ol one- off giving al the end ol the year is proving lo be paillcularly successful and an atlracliv8 tool for parishes. Spiritual direction proves lo be an allraclive avenue of discipleship, with 28 splrllual directors within the diocese and 8 training programme is in place lo further develop Ihese numbers. Relaunched the Roots of Fallh. diocesan discipleship progiamme, laughl in person and online, coverlng lop1cs such as 'Doclrine, Church History. Old Teslamenl, New Teslamenl. Being Wltnessgs including.. Inleinal and external investment lo realise the vision 0110 Strategic Church Plants by 2026 Coaching, nebNorking and training as we press ahead lo our goal of seeing 200 New Local Congregations by 2026 Providing tfainlng and neNvorks of support so that people are enabled to share their faith with nlidence A suite of activities lo enable human fl(iurishing through social action Caring for God's creallon with the aspiration lo become an E¢04Jiocese in 2023 In relation lo our main objectives of Being Witnesses lo Jesus Christ.. To reallse our vision of10 Strategi¢ Church Plants, eight plants are now in place and are fruitfully building the Kingdom in their local areas,. the most recent plant is silualpd in Leyland Deanery. To fulfil our goal 01200 New Local Congregations. coaching, netWOTking and training events including the Beacon Course have resulted in more New Local Congregation8 starling. Al the end of 2022. 102 congregations were in place. To enable people lo share their faith with confidence, encouragement lo pray for the building ol the Kingdom together with training and network support has resulted in more nurture courses taking place across the diocese176 noledl. Opporlunilies lo learn from Saints in the past have slrenglhened prayer individually and corporately. Training lor mission end ministry through sport was offored in collaboration wllh the National Eslales Churches Network, Sl Andrew's Page 4 The Blackburn Dlocesan Board of Flnance Limlted Annual Report and Flnancial Statements F-or Ihp ear ended 31 De￿rnber 2022 Leyland, Ambassadors Football, Kick and Scripture Union. Church leaders are demonslraling crEalive ways lo reach out using dlfferent medla. eg. one church transformed their church building into Narnia and iRviled their IoGal cornmunily lo walk through the story 2nd experience the good news in an Inleraclive way. To enable human flourishing. healthy churches are living Kingdom values and providing rich treasures in numerous areas, across all age ranges. including.. dementia support,. debt coullselling,. addressing isolation., jusliee lor those affected by human slavery,. health, hospitality and wellbeing.. heallng,, deliverance.. job skills,. housing., food banks." support for people on the margills., addictions, addllional needs elc. Partnerships with others are growing. For example, the dioc&se Collaborated with the Mothers, Union on a project that enables women lo develop business skills in Burundi. £16,500 has been raised, lo dale. wfth funds sllll coming in. To promole caring for creation, Blackburn Diocese is registered as an EciFdiocese. A baseline for carbon emissions in our dioces0 ha5 been established with support and encouragement provided lo parishes lo complete the Energy Footprint Tool as well as becoming Eco-churches. A nel zero carbon working group has been convened. Dr Ruth Valerio, Global Advocacy and Influencing Director al Tearlund, spoke al our Diocesan Conferencg. Training on Climate Resilien￿ was provided for our dioces8 by the Chur¢h Bulldings Council. Growlng Leaders including.. Continued pursuit of the Lay Majority Ministry Framework Continued development of a diocesan-wide ¢ullure of vocational discernment so that all may hoar God's call and use Ihelr gifts in the sewice of the Gospel Generallng a plpeline tsl hlghly motivated deacons and priests in order lo enable the DIoc8se's clergy deployment strategy In relation to our main objectives of Growlng Leaders lor Jesus Christ we.. Continued the implemenlalion of Lay Majority Ministry strategy Expanded the Aulhorised Lay Ministry IALMI portfolio lo len ministry areas As of year end, 156 Aulhorised Lay Ministers have been commissioned in the fif51 iwo years Expanded the M.. Power programrne lo offer training in 2022123 10 30 people in four locallons {Accringlon, Blackpool. Preston and Lower Datwenl Delivered four conlinulng ministerial education days for Aulhorised Lay Ministers and Licensed Lay Ministers Developed and launched a new inlegraled 5-year start of ministry prograrnme lo support clergy from ordination Ihrough lo the end ol the second year of their lirsl incumbency Successfully obtained national funding lor live additional curacies and four addillonal posts of first responsibilily Inspiring Chlldren and Young People including.. Pursuing a slep change in work with those aged 11-18 supported by a new Youth Resourcing Church and diocesan-wlde new learnlng communitiès Facililaling effective parlnershlps be(weÈll churches and local s¢hools Nurturing children and young people in Ihelr faith and supporting them as disciples ol Je5US Christ Supporting th8 creation of new or renewed toddler groups that shaff the Gospel In relation lo our main objectives ol Inspiring Children and Young people for Jesus Christ we: Commissioned the Board of Education lo enable development through.. Suslainillg a new Learning Comrnunily for Youth Provision building on the Launchpad sessions delivered through the SDF3 resourcing church al Sl Luke's, Blackburn Pago 5 The Blackburn Dlocesai) Board of Flnance Llmited Annual Report ancl Financial Stalemenls For the ear ended 31 De¢embÉr 2022 Delivering Irainlng lo children's and youth workers across the dlocese linked to the ALM programme for growing leaders Creating high quallly resources and training lo equip chur¢hes lo mSnisler to the young Creating high quality school resources for Religious Education, ethos and worship Training and supporting sch(x)Is and churches lo live out Vision 2026 by transforming ctsmmunilies. Investing in addresslng structural Inluslice through the Equity, Diverslly and Justice programme Full details of the a¢livilies carried out are CDntained within Blackburn Di0￿san Board of Educallon Trustee Report. During 2022 the BOBF also.. Carefully monllored spending and income for the diocese lo ensure sustainability. Conliniied lo encourage parishes struggling lo meet their Parish Share requests lo meet BDHF Dire¢lors. ATGhdeacons and BDBF Officers lo discuss Ihebr challenges, conslrainls on Ihelr abS1ily lo conlribule the Parish Share requesled. and inilialives for ministry in a conslruolive and collaborative atmosphere. Engaged in regular Parish Share meebngs lo help parishes with difficulty In conlribuiing share lo agree a positive way fonNard. Wheie satisfied that there was a clear ¢ommilmenl by th8 parishes lo strengthen their discipleship. stewardship and vision planning, and tD meet an adjusted share contribution request, Parish Share meetings were able lo reduce Share requests lor a number of parishes from the parish support fund. Secured funding from the church commissioners in order to build capacity to support work on transforming the diocese. Consulted with deaneries through the Mlssional and Flnanclal Flourishing programme ol meetings designed to Ensure that this a good understanding of what wlll iransfom mlssion and minislry in each area SuppDrted parishes in their mission asplrallons wllh grant fundlng from the Parish Vision Granl and Loan Fund. Continued the roll out of the extensive safeguarding training programme lor clergy and parish officers. Administered a hardship support fund for clergy and church workers suffering financial hardship as a result of the cost ol living ¢risis. The actions outlined above were enabled through a range of adminislralive and legal functions ensuring that the priorities identified within Vision 2026 were facililaled whllsl malnlainillg good governan￿. Persoiinel The Directors are thankful for everyone who contributes lo the life of the DIC￿ese and to the parishes for their conlSnuing linanclal siipporl. The directors would lilen ended., have been properly prepared in accordance with United Kingdom Generally A¢¢¢pted Accounting Practice., and havtr been prepared in accordance with the requirements of the Companies Act 20￿. Basis for opinion We conducted our audit In accordance wllh International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilib.es under those standards are further described in the Auditor's responsibilities lor the audit ol the financial slalemenls section of our report. INQ are independ&nl of the charitable company in a¢¢ordance with the ethical reqliiremenls that are relevant lo our audit ol the financial slalements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requiremenls. We believe that the audit evidence we have obtained is suffi'cient and appropriate lo provide a basis for our opinion. Conclusions relating to goSny concern In auditing Ilie liiiancial statements. we have concluded that the trustees. use of the going concern bas1S tsl accounting in the preparation of the financia5 slalemenls is appropriate. Based on the work we have perlormed, we have not Idenllfled any malerlal uncerlalntles relaling lo events or condition5 that, individually or collectively, may casl significant doubl on the charitable company's ability lo continue as a going concern for a period of al least twelve months from when Ihe financial slalemenls are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respect lo going concern are described in the relevant sections of this ￿port. Other Information The trustees are responsible for the other information. The Dlher information comprise5 the information included in the Annual Report. Our opinion on the financial slalemenls does not Cover the other information and, except to the exlenl olherwlse explicitly slated in our report, we do not express any form of assurance conclusion Ihereon, Ir) connection with our audit of the financial slalemenls, our responsibilily is lo read the other inforrnalion and, in doing so, consider whelher the olher information is materially inconsislenl with tlie financial slalemenls or our knowledge obtained in the audit or olhetwise appears to be materially miBslaled. If we identify su¢h material inconsi5tellcies or app&￿ nl material misstatements, we are required to determine whether there is a material misslalemenl in the financial slalemenls or a matèrial misslalemenl of the other Informalion. If, bas*d on the work we have performed, we conclude that there is a material misstatement of this other Information, we are required lo report that lacl. We have nothing lo report in this regard. Opinions on othei. matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. Page 18 The Blackburn Dlocesan Board of Flnance Llmlted Aiinual Report and Financial Slalemenls For the eai ended 31 Decembcr 20?.2 the information given in the Annual Report Iwhlch includes the slraleglc report and the dire¢lors' report prepared lor the purposes of company law} for the financial year for which the linanclal slalemenls are prèpared 15 consislenl with the financial slalemenls., and the strategic report and Ihe directors, report included wilhln the Annual Report have been prepa￿d in accordance with appli¢abl@ legal requirements. Matters on whlch we are required to report by exception In the light of the knowledge and underslandlng of the charitable company and its environment obtained in the course of the audit, we have nol identified material mlsslatemenls in the Annual Report Iwhich incorporates thè strategic repoil and the directors, reporll. We have nothing lo report in respect ol the following mallers in relation lo whlch the Compani&s Act 2006 requires us lo report lo you if, in our opinion.. adequate accounting records have not been kept by the charitable company, or returns adequate for our audit have not been received from branches not visited by usl.. or the ¢harilable company linan¢ial slalements are not in agr6emenl with the accounting records and returns., or certain disclosures of Iruslees. remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit Responslbilities of trustees for the financial statements As explained more lully in the Iruslees, responsibilities slalemenl sel out on pagè 13, the Iruslees (who are also the diieclors of the charitable company for the purposes of company lawl are responsible lor the preparation of the financial slalemenls and for being satisfied that they give a true and fair view, and for such internal control as the Iruslees determine is necessary lo enable the preparation ol financial slalemenls that are free from material misslalemenl, whether due lo fraud or error. In preparing the financial slalemenls, the Iruslees are responsible lor assessing the charitable company's ability lo continue as a going concern, dlsclosing, as applicable. mallers related lo going concern and using the going concern basis of accounting unless the Imslees either intend lo liquidate the charitable company or lo cease opeTalions, or have no realislio allernalive bul lo do so. Auditor's responsibilities for the audit of tho flnanclal statements Our obje¢lives are lo obtain reasonable assurance about whether the financial slalemenls as a whole are free Irom rllalerial misslalemenl. whether due lo Iiaud or errnr, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an aud51 conducted in a¢¢ordance with ISAS IUKI will always deleGI a material misslalemenl when il exists. Misslalements can arise from Iraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected to Influence the e¢onomiG decisions of users taken on the basis of these financlal stalemenls. Irregul8rili&s, including fraud. are instances of non-compllance with laws and regulations. We deslgn procedures in line wllh our responsibilities, outlined above. lo delecl material misslalemenls in respecl ol irregularities, including fraud. The exlenl lo which our pro¢gdures are capable ol delecling irregularilles, including fraud is detailed below.. Based on our underslandlng of the charitable company and the environment in which il operates, we identified that the principal risks of non-compliance with laws and regulations related lo the Companies Act 2006 and the Charities Acl 201 I at)d we considered the exlenl lo whi¢h non-compllance might have a material eflecl on the financial slatemenls. We also considered other faclois such as income lax, payroll lax and sales lax. We evalualfjd managemelll's incentives and opporlunilies for fraudulent manipiilolion ol the financial slalements lin¢luding the risk ol override of conlrolsl, arid concluded that the risk was low. Audit procedures performed by the engagement team included.. Page19 The Blackburn Diocesan Board of Finanee Limited Annual Report and Flnan¢ial %lalemenls For the eai ended 31 DeGetnber 2022 Discussions wilh management including consideration of known or suspecled instances ol non- compliance with law5 and regulation and fraud.. Evaluating management's controls deslgned lo prevent and delect irregUla￿lIeS.. Idtsnlifying and lesling journals, in particular journal entries posted with unusual account combinations, postings by unusual users or with unusual des¢riplions', and Challenging assumptions and judgements made by management in their crflical accounting eslimales Because ol the inherent limllalions of an audit, there is a risk that we wll not detect all irregul8ri1ies. including those leading lo a material misstalemenl in the financial stalemttnls or non-compliance with regulation. This risk increases the more that compllance with a law or regulation is removed from the events and Iran5aclions rèflected in the financial slalemenls, as we will be less likely lo become aware ol instances ol non-compliance. The risk is also greater regarding irregularities o¢curring due lo fraud rather than error, a5 fraud involves Intentional concealment. forgery. collusion. omission or misrepresenlalion. A furthèr description ol our responsibilities for the audit of the financial stalemellls is located on the Financial Rèporting Gouncil's website al.. www.lrc.or .uklaudilorsres onsibililies. This description lorrns parl of our auditor's report. Use of our report This report is made solely lo the ¢h8rilable ¢ompany's members. as 8 bDdy, in accordance with Chapter 3 of Parl 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate lo the oharilable company's members those mallers we are Tequired lo stale lo them in an ALJdilor's report and lor no other purpose. To the fullest exlenl permilled by law, we do not accept or assume responsibility lo anyone other than the chariiable company and the charitable company's members as a body, loi our audit work, for this report, or lor the opinions we have formed, Adam Halsey (Senior Slalulory Audilorl For and on behalf of Haysmacinlyre LLP, Stalulory Auditors Dale.. 21 September 2023 10 aueen Street Place London EC4R 1AG Page 20 The Bla¢kburn Dlocesan Board of Finance Llmlted Aniiual Report and Financial Slalemenls For the e@r end8iJ 31 D¢¢¢mbei 2022 STATEMENT OF FINANCIAL ACTIVITIES lor the y&argnded 31 Dgcembei"2022 Total funds Unrostricted funds Deslg- ReslTIGted nated funds £000 £000 fund5 EndowiDent lunds £000 General £000 2022 £OOD 2021 g(KJo Notg Income and endowmgnt$ frorn-. Dtrnallons and legacies 7,626 7,626 7.469 Ar¢hbishops' Counoil and Church commis¥ioners Olh91 Cliarltable ocllvltl8s: stalulory f88$, chaplalncy and olhèi Incoffl 265 4,624 107 4,679 358 2,751 317 136 190 216 276 5J4 221 515 1,908 724 437 803 2,165 728 377 732 1.094 Inveslmeiils other 13 257 Total Income and endowments 8,677 149 7,909 257 16,9g2 13,468 Expenditure on.. R8lslng fund5 Charllablo acllvltles Othar 301 3,139 18 11,616 319 14.733 264 12,410 193 78 Total Expendltuie io J,440 76 11,534 15,066 12,867 Not In¢omgllexp&ndl¢urel b9for9 Investments 6.237 71 13,6251 253 1,93E Nel Ibssygaln8 on Inveslmants 18 11,9091 12,8701 3,￿7 Ngt Sncomtrllbxpendlturg) bpfore transfers Transfers betsvgen funds 4,37 15,3051 13.6621 6,865 11,6581 14961 19341 3,898 72 Net In¢omèlloxpèndltuYel before other r8¢ognl$ed galn5 2nd losse5 19341 2,203 12.1621 19341 3,698 Other r8cognlsed galnslllosse$l Gainlllossl on revaluation ol fixed assets Galnlllossl on dellned benefll penslon sch8m8S 253 179 179 1221 Nel movement In funds 17551 2,203 12,1621 17551 3.929 Reconclllaiion of ftsttds Total fiinds al 1 January 2022 9,275 2.033 10.987 49,894 73.169 69,260 Total funds at 31 DeGemb8r 2022 8,620 2,982 13,190 47,742 72,434 73,189 All aclivitles deriv6 from continuing aclwllies. The notes on pages 25 to 55 form part of the financial slalernenls. Delai18 of comparative figu￿912021) for the Slat8rnenl of Financial A¢livitles by fund are disclosed in ntste 30. Pagè 21 The Blacl(burn Dlocesan Board of Finance Limlt&d Annual Report and Fiiiancial Slalemenls For Ihe ear elided 31 Deceniber 2022 INCOME AND LXPENDITURE ACCOUNT for the year end@d 31 D&c6mb8r 2022 2022 £000 2021 £000 Total Incomè Total expenditure 16,735 115,0521 13,263 111.4751 Operatlng surpluslldeficltl for the year Nel Ilossesllgains on investments 1,683 19611 1,788 1,025 Net income for the year 722 2.813 other comprehensive income.. Net asset5 transferred from endowments AGILiarial gain51{10$5esl on defined benefit pens1on scheme5 496 179 1,027 (22} Total comprehensive Income 1,397 3,818 The income 2nd expenditure account is derived from the Statement of Financial Activities with Inovemenls in endowTTrenl fund5 pxcluded to comply with company law. All In¢ome snd expendlture Is derived from conlinuino aCt￿l￿£S. Page 22 The Blackburn Dlocesan Board of Finance Limited AnnLial Report and Financial Slalemen15 For Ihe 2ar ended 31 D8ceinber 2022 BALANCE SHEET al 31 Decgmber2022 Nole 2022 2021 £000 £000 £000 £000 Flxed A8S8ts T8ngible Assels Inveslinenis Inveslmenl Pioperty 17 18 78 40,22S 21,814 1.799 40,271 24,694 1,861 63,838 66,826 Current assets Stocks Deblors lafflounls ￿c￿Vable after more than one year.. £14,00012021..£ 608,oonii Deposib and Cash at bank and in hand 19 2,225 2.018 8,055 6.202 10.281 11,5281 8.221 19001 Cr8dltors.' atnounts falllng due ￿thIn one year 20 Net current ass&ts 8.753 7,321 Creditors.- amounts falllng due after rnor8 Ihan one year Provlsl(Ins for Ilabil*t18s'. Pensions and slmllar obligalons 20 15751 83) 11571 1958} Net A588t8 23 72,434 73,189 Capital and Resorves Endowrnenl funds llnc1L￿1nY Investment woluation ￿seN￿of E7.329,000 (2021.. £9,282,00011 Reslri¢ted lund5 Ilncludlng In¥tBknenl revaluation re$￿ve 01£15.000 12021.. É52.00011 Unreslricled liinds- General (In￿ts￿l￿g Inveslment revalualioIi ol £3,494.ODD12021.. £4,259,00011 Unreslri¢led funds- Deslgnaterj Ilndudino InveslTnanl rev81uation resewe of £216.Q(KTr 12021.. £274.00011 26 47,742 49,894 25 13,190 10.987 24 B,520 9,275 24 2.982 3.033 72,434 73,189 The notes on page5 25 10 55 form part of the financial 51alemellls. These financial statements were apprtsved by the Directors and were signed on their beliall on 09 September 2023 by.. Mr D Barlow Chair of111g Board of Financ8 rNPAves Vice-ohair of Ihe Board of Finance The Bl8ckburn DI0￿$an Board of Flnance Ltd Is a company limited by guarantpe registered in En9land and Wales {no. 225457) Page 23 The Blackburn Diocèsan Board of Finance Limited Aiinual R8POrt and Finaiicial Slatetnenls For the car endod 31 Oe¢embei 2022 CASH FLOW STATEMENT for Ihe year ended 31 December 2022 2022 £000 2022 £oDo 2021 £(x)o 2021 £000 NelNnGom8 beTor¢ otherrecognlserlgaiFJS aTrdloss&s IGalnsVLosses on disp0531 of ￿￿ed B55ets IGalnsVLossgs on di$pos810l invesiments DepreGialion Decrea5ellincroa5el In slrtk Ilncresse)Ideueas8 In d8blor8 IDecraa$elnn¢iea$È In cr8diloTS currenl IL4blliilès Movement in panslon commilmenl 1,936 12,1681 601 195n 119) 159 57 16361 210 12041 (1521 1329) Casli 1oulllowlnllowf￿M oporallngéctlvltles 17991 11,0941 Notlncoffie Invesllnuacllvlties Piir¢h¥$e ol largibk fixed assels Pioceeds of ¥al(i of fL¥ed assets Purchase ol InveslTNeDts PIQ￿e￿5 of of Inv8$tmanis 11,5041 3,660 12,3011 3,334 82 149 Nel Cash Inllowlouttlowj from Investlnuacllvllles 2,223 1,170 Nel cash Inflow/(outtlowJ from fiNJandny8ctlvltles Repayrnenls ofboirowing Loan repayments recelved Nw I0￿S 1132) 62 (811 430 (zsh influrfoulflrMI from finandng S£1￿￿[86 429 11511 IDBcreasellln¢roase In casl) In tho year 1,853 (751 Cash and cash equlval8nts at the beginnlng of Ih?yoar 6.202 6,277 Cash and Cash oqulvalents atthB end Oft￿yoar 8,055 6,202 Analysis of cash and cash eqiilvalents 2022 £oDo 2021 £000 Cash In hand and al bank Short leim dep05iis 4.337 3,718 2,542 3.660 8.055 6.2Q2 Tho notes on pages 25 to 55 form part of the financial statements. Page 24 The Blackburn Di0¢8san Board of Finance Llmiled Aniiual Report Finaiicial Slalemenls For Ihe ear ended 31 December 2022 NOTES TO THE FINANCIAL STATEMENTS (forming partof the fin8ncial statements) 1. Accounting pollcies The following accounting poli¢ie5 have been applied Gonsislenlly in dealing with items which are considered material in relation lo the charitable company's linan¢ial slalements. Basis of preparation The financial slalemenls have been prepared Sn accordance with the Companies Act 2008, the Charitie5 SORP (Second Edition, effective 1 January 20191 and applicable a¢counling standards FRS102, and under the historical cost ¢onvenlion adiusled for the revaluation of cerlaln fixed assets. The Directors are satisfied that there arè no material uncerlailllies about the Charitable company's ability lo continue in operational existence lor the loreseoable fulure. The Trustees believe they have sufficient reserves lo allow lime lo adiusl the operations of the chariiable company lo meal changed cir¢umslances relating lo inflation and energy Costs. Accordingly, they continue lo adopt the going concern basis in preparing the Trustees, annual report and financial slalements. The Directors believe Ihal the charitable company is a public benefit enlily. Crltical accountlng Judgements andkgy sources of estlmatlon uncertainty In the application of the accounting policies, trustees are ￿quired lo make judgement, eslimales, and assumptions about the carrying valiie of assets and liabilities that are nol readily apparent from other sources. The eslimales and underlying assumptions are based on historical experience and other factors that are consid8red lo be ielevanl. Actual results may differ from these eslimales. The esliinales and ullderlying assumptions are ieviewed on an ongoing basis. Revisions lo accounting eslimales are recognised in the period in whiGh the estimate is revised il the revision affects only that period, or in the period ol the revision and fulure porlods if the revision affected current and future periocss. Judgements made by the Trustees, in the application of these accounting ptslicies that have significant effect on the financial slalemenls and eslimalès with a significant risk of material adjuslmenl in the next year are deemed lo be in relation to the depreciation rates of langlble fixed assets and the assumptions used in determining the value ol the pension scheme defi'cit. In the view of tho Trustees, no assurnplions concerning the future or eslirnalion uncertainly dffecling assets or liabilities al the balance sheet dale are likely to result in a material adjustment lo their carrying amounts in the next financial yeai. Fixed assets and depreclatlon Assets with a value in excess of £500 are capilalised. Depreciation is provided for on the jointly owned Diocesan Offices and Whalley Abbey Retreat and Conference Houso. No other depreciation is provid&d on the charitable ¢ompany's freehold buildings including parsonage houses lexplanalion regarding parsonage houses is included in nolo 181 as the depfftcialion charge is immaterial. Freehold land is not depre¢ialed. As il Is the charitable company's policy lo maintain houses lo a high standard, in a¢cordance with a planned approach lo repair and maintenance, such properlies mainlaln residual dlsposal values in aggregate at lessl equal lo their book values. The charitable ¢ompany will perform annual impairment lesling of asse15 on which depreciation is not provided lo determine whether residual values ol housing properties in aggregate continue lo exceed caiiying value. The Company holds all Heritage assets al an accurate valuation wherever possible. VVh&re not PO55ible they are held al depre¢ialed value. Page 25 The Bla¢kburn Dlo¢esan Board of Finance Limited Annudl Report and Finsncial Slalemenl$ For Ihp ¢ar ¢ndod 31 December ?022 Depreciation Is provided lo write off the Gosl le55 th¢ eslimaled residual value of other tangible fixed assets by equal inslalmenls over Iheii estimated useful economic lives as follows.. Leasehold properly 30 years or, if shorter, the remalnder of the lease term Diocgsan Offi'ces 50 years on properly 20 years on remodelling 15 years to a residu81 value of £500,000 4-10 years 15 years Whalley Abbey Retreat and Gonference House Fixtures, fillings and ollice equipment Heritage asset FNxed asset investments Fixed asset investments are staled al market value at the balance sheet date. Movements in market value arising during the year are shown as Unrealised gains or losses on fixed as5el investments in the Statement of Financial A¢tsvilies. Investmenl prop&rtl8S Investment properties ar8 included al their fair value. Glebe land is recognised as hel(t for inve51menl purposes when il is held lo rent out or there is a slgned dovelopers agreement. stocks Stocks are slated al the loweT of Cost and nel realisable value. Income Parish ¢ontrlbutAons Income includes amounts recelved from Parochial Church Counclls in respect of parish share for general, stipends fund and parsonage house fund assessments. Parish share is re¢ognised in the accounts when there is evidence of enlillement. receipt is probable and Ils amount can be measured reliably. Incoine from Archbishops, CounGII and Church CommAssion8rs Money from National Church Inslilulions is re¢ognised when enlillèmenl is probable. otherdonations, grants, legacles and slmllar income Grants and donations receivable towards the cost of additions or improvements lo freehold buildings are credited lo income in the period to which they relate. Other grants are recorded as income when enlillemenl is probable. Other donations are recorded as income when received. other tradlng activitles The income from these source8 is recognised on an accruals basis Investment In¢ome Investment Income is recogni5ed on an accruals basls. Expenditure Expenditure has been charged lo the Slalemenl ol Financial Aclivilies on an accruals bas15. Expenditure relatlng directly lo the objectives ol the chaiily is shown as direct charitable expendilure. Grants payahla Grants payablg are debited lo expenditure when the charitable company has a wnslruelive obligation lo pay. Pagd 26 The Blackburn Diocosan Board of Flnance Llmlled Annual Report dnd Financial Slalemenls For the ear ended 31 Decembgr 2022 Wjinistry In Parishes Ministry in Parishes includes the stipends, Nl, penslons. housing costs and any dire¢l expenses paid by the ch8rilable company for ministers localed in parishes. Ministry Support Ministry Support includes the costs of the charitable company that provide either a direct service lo the parishes or lo the communlly ol the paiish. 11 also in¢ludes the National Tralning costs paid lo National Church lor the training of Ordinands and the ¢osls ol Whalley Abbey the retreat house of the Diocese. Support and Governance Costs Governance costs includes audit lee, Iruslee meeting expenses, Di0¢05an Synod expenses. Blshop's Council expenses and an allocation of costs based on eslimaled lime spent preparing slalulory information and for governancel slraleglc issues, by the Finance Team. Diocesan Secretary and Support Services Tearn. Support includes the costs of the finance team and general management not included under Govern8nce costs: Support costs have been allocated based on an estimate of lime spent in each area. Taxation Th& Blackburn Diocesan Board of Finance Limited {by guarantee) is considered lo pass the lesls sel out in paragraph fj Schedule 6 Finance Act 2010 and therefore il meets the definition ol a charitable company for UK Corporation Tax purposes. Accordingly, the charity is potentially exempl frtsm laxalion in respect of incorne or capital galns received within categorie8 Covered by Chapter 3 Part11 Corporation Tax Act 2010 or Seclion 256 01 the Taxallon of Chargeable Gains Act 1992, to the exlenl that such income or gains ale applied èxclusively lo Charitable purposes. Penslons The charitable company operates a deflned contribution pension s¢heme. The as5els of the scheme arg held separately from those of the charitable company in independent5y administered funds, The amount charged in the Slalemenl ol Financial A¢livilies represents the contributions payable lo the scheme in Tespecl of the a¢¢ounling period. The charitable company also parlicipales in the Church WorkeTS Pension Fund and the Church of England Funded Pension Scheme (see note 151. The assets of the defined benefi't pension schemes are held separately from the charitable company in independently administered funds. The pension costs charged as expenditure represent the 8DBF's contributions paid in respect DI the a¢¢ounling period, in accotdance with FRS102. Delicil funding lor the pension schemes to which the BDBF p2rlicipales is accrued al ¢urrenl value. Fund accounting Funds held by the charitable company are either.. Unreslricled gEneral funds- these are funds which can be used in accordance w(Ih the charitable objects 81 tt)e discretion ol the Iruslees. Unrestricted designated funds these are funds Sel aside by the Iruslees out of unreslrlcled general funds for specific fuluTe purposes or projects. Reslriclod ftinds- these are funds that can only be used for particulai reslricled purposes within the objecls of the charilable company. Reslriclions arise when specified by the donor or when funds are raised for particular reslricled purposes. Endowm8nl funds- Ihls is capital, held In perpeluily lo create income for specified purposes. Further explanation of the nature 2nd purpose ol each fund is included in the notes lo the financial slalemenls. Page 27 The Blackburn Diocesan Board of Finaiiee Limitèd Annual Report and Financial Slalemenls For the ear ond¢d 31 December 2022 Where a grant or donation is receiveLI lo fund a capital ilem or where an asset is donated, if there is an obligation relating lo the lulure use or retention ol the relevant asset, the balance relating lo that asset is held within r8slriGled lunds as long as that reslriGlion exists. Where there is no such reslri¢lion, the income relallng lo the purchase ol capital items is transferred lo unresliicled funds in the Statement of Financial Aclivilies. 2. Archbishops, Council and Church Commissioners Total funds 2022 £000 Tol81 fufids 2021 Unrestrlcled fund Re5triGted Endowment Genèral Deslgnaled funds Fiin(ts £000 £000 £000 Éooo Lowest Income ¢￿u￿11￿5 Fundillg Energy C051B Grdnl Resourciw Ministerial Educatlon IDGk Giant sir&t8gk Mlnislry Fiind Slfalegk Capaclty Fundlng strateg￿ Dtvelopmenl Furyling Clergy haidship grant P351 Cases Review 2 Funding 1,402 431 1,402 43fj 1,355 221 379 2Z1 379 271 2,103 72 12 213 88 853 2SS 2,103 72 30 256 4,624 4,879 2.751 3. Other donations Tot81 funds 2022 £000 Total funds 2ff21 £ODO 156 69 92 Unrestrictèd Funds General Designated EODO 120 Restrlcled Endowment FLinds Funds £000 ÉODO £OOD 45 21 Benefact Trust Donations Other Giants Laya¢ie8 165 65 28 79 3Y 10 36 107 358 317 Page 28 The Blackbiirn Dlocesan Board of FSnance Limiled Anniial Repart and Finaiicial Slaleinenls For IhE ear endod 31 Decefflber 2022 4. Charilabltt acllvilies Tv141 Urir6slrl¢led Funds Goneral Dg81gDatod £000 EOOO R9slriclod Èndowinont Funds £000 lund8 Fund5 2022 £000 494 20?1 £000 £0 51 Slaluiory fees.. chap1alncy In¢om8 Chui¢h Commigsioners- Gu8ianLeed allnuilEs Re¢hwg6 of5talf costs Whall8y Abbey Colllar9n¢e Hous8 Incom8 for ITainillo courses Olh6r fee$lsale5 494 39 39 141 141 57 36 60 44 44 90 534 724 728 5. Other trading activities Total ruxds Tol&l funds lJnreslrlct•d funds General Daslgnalod £000 Rostrlctod Endowmgnt Fttnds 2022 2021 EOOO 284 38 Eooo 63 133 £000 221 £000 £000 284 Rental InG(m8 WhalleyAbbey COnferer￿ Hous$ A¢counllng arbd Leyal se￿1￿$ Con8ullancy ￿[ViCES Olherftre51sales 133 Jfj 216 221 437 377 6. Inveslmenl income Tol$l fund8 2022 £000 714 66 33 Tol81 funds 2021 £000 Rostrfctod Fund$ £OOD 470 12 Endowm8nl Fund& G&n¢rnl £000 231 44 eslgnaled £000 £000 Dnqdends re￿wable Inleresl ieceiyable Rents receivable 699 33 31 275 516 803 732 7. Other income Total funds 2D21 £0￿j 1,050 19 25 Unr88trlclèd fund Gpnorhl Dèslgnaled Re8tFleled Fundts £000 1,808 Endowmgnl Fund5 £000 257 funds 2022 EOOO 2,165 £000 Èooo Galns on d15posal ol r￿ed 8ssetg Galns on disw5310l inveslmenis Loan inl8resl 1.908 257 2,155 1.094 Page 29 The Blackburn Diocesan Boai'd of Flnanee Limited Aniiual Report Hnd Financial Statements For the ear ended 31 December 2022 8. C051 of raising liinds Total funds 2021 Urirestrlctèd lunds Restrlcted EndDsyfflenl funds Genero1 DÈ8lunaled £000 £000 Fiinds Fiinds 2022 £aoo S9 Eooo £000 EOOO Proiecl Manayemenl Parish share Secielaiial Ai¢hdeacons Investment Managetnenl Costs Whalley Abbey Rents Rents Fundralsing Tradin9 Whalley Abbey Fundra15Ing TradSng olh8r 69 17 12 20 20 41 34 14 14 BO 180 19 02 53 301 31g 264 Page 30 The BlackbLirn Dlocesan Board of Finance Limited Annual Report and Financial Sialemenls For lh8 8ar ended 31 Decetnbor 2022 9. Expenditure on charitable aclivilies Un￿$t￿¢￿d funds Gan•ral D•$lgnalod £000 £000 Reslrlcted Endownienl Total fiinds Tolul funds Funds 2D22 2021 £000 £o(K) £000 £000 Conlrlbullons to Archblshops, Councll 302 185 26 302 3W2 National Cliurth responsibiliilag Grants and provislons Agency penslon 186 25 26 13 13 Reliieu clErgy housing costs ICHARMI Pooling ol oidlnand ¢andldal95 QO81s General Synod expeDse5 114 114 37 10 657 867 T10 Parlsh mlnlstry Stipends & Nalional Insurance Pensh)n ¢oMlribuknons Houslng tOÈls Remov81, reselllemenl and olb2r grants Other expen8@5 5.031 1,435 fj,$43 s,oJ 1.435 1,888 4.665 1,347 1,555 45 223 223 66 232 75 62 45 8,294 8,343 7,874 Support for p2rkh mini5ty Whalley Abb&y Conlerente House Redundaiil churches Sligleglc Oevolopment Funding Projtc15 Sl Phlllp's Cenlre Prolet* Gianis lo Paflslies, Indlvlrluals and Other Chttrlllas Miscellaneous Expenses I,B39 239 32 f,871 239 78 1,652 192 78 2,083 51 2,083 51 720 36 42 1.010 1.OS2 786 28 2.078 74 3,222 5,374 3,489 Expondlluro on education Granis lorlhe work of IhB Board 359 359 337 259 359 33T Charitable a¢tlvltles 78 14,Y33 12,410 Page 31 Thè Blackburn Diocesan Board of Finance Limited Annu81 Repori and Financial Slalemenls For the ear ended 31 Deceniber 2022 l O. Ai)alysis of expenditure including allocation ol suppoil costs Manag8- mont Admln Support £000 Grant fundlng ol un(lortakgn dlrsatly £000 Total 2022 £000 Total ?.021 £000 £000 Cost of mlslno fun¢s ConlribuNons lo Archbi5hopy' Coundl Parish Minlslry Support for P8rl8h Mlnk31ry Educ8lion Olher 282 37 319 67 8,343 5,374 359 264 710 11,363 846 6.120 3,397 223 1,226 359 752 337 f93 11,814 2.453 7B9 6.OS6 t2,8fj7 11. Analysis ol support ￿5t$ Tolal funds 2022 £000 37 577 Total lufid5 2021 £000 30 759 UMr&Btrlcted funds Raslil¢led Endowment FundB Gon&ral eslgna19d £000 £000 £000 £000 Ra￿l￿g Funds Cenltal Adminlslratlon GovernaDce cosis 33 5Y7 29 4Z 71 38 23 Accounting and Flnan¢a Otrice Audit & accountancy fÈe& Dio¢es3n Synod cosis DBF t)ireclois and Blshop's oJncil MÈÈtlnos Sh8nce￿Or and R89lslF8r Fees 42 28 2B 67 67 57 789 793 997 Page 32 The Blackburn Diocesan Board of Fiiiance Llmited Annual lrne for clergy sllpends. Tho globe land is measured at fair value al the year end by an IrKfependenl RICS r8gislered v£lu4r. The valuation has been undertaken in 8c¢ordance with Inlemational and RICS Valuation Slatidards and has been based upon the valuei's experience in the valuation of agrlcullural, inslilLJtlon81 and amenity land within Ihe Lancashire and widei. iiorih-wesl region. Unlisted invesltnenls are made up of Central Bo8rd of Finaiice Investments In Church of England Investment Fund shares. Pioperty Fund shares an(1 Fixed InlÈresl Securilles. 19. Debtors 2022 £000 2021 £000 Amotsnts receivable WAllln oneyear Prèpayments and accrued in¢orn& (Jherdebtots Amount owed by relaled parties IcidaTi Educalionl Loans to ￿lSted patties (Emmanupl ThBoloJkal col￿g￿l Loans lo parishes 683 1,072 442 877 10 375 440 2,21 1.510 Aniounls recplv8blo #ftgrinore Ihfiii 0￿8 year Lo811S lo par￿heS Loans io rÈlaleA partps (Emmanuel Theologlcal Collegal Amoiini awe(I by related p8rfies Icidari Educ81￿) £000 EOOO 14 497 14 508 Page 41 The Blackburn Dlocesan Board ol Flriance Limited Annu81 Reporl and FinanLial Slaletnenls For the eai ended 31 Decembor 2022 20. Creditors 2022 £DOO 2021 £OLNJ Amounts falllng due L￿rhIn oiie year Tradg credilors Olh6rcfedllots Iiaxallon 8nd so¢k218ecurilyl Olhercredllors criial nouni3 owed lo related parties IBDBEI CCLA loan 648 53 88 186 235 418 314 51 278 178 1,528 2022 £000 2021 £0 Amourjts ralllny due aftermore Ilia￿ L￿ONe&r CCLA108n Du6 to Churches Consetvollon Trust Provision8 for liabllilies.. Pen51on d8Nt¥l f8 157 383 157 16Y 958 The long term loan from QCLA is a flexible loan faalilies subject lo 8 maximum TeP8ymtrnt leThn of 10 yeaTS. The loan h8s been 18paid in 2023. The amounl owed lo Churche5 Con8etv8tion Trust is due on disposal ol five r8dundanl church building$. 21. Commitments Cornmllrnenls al31 D8cember2D22. forwhi¢h no prc>vislon has been mode ID these ￿￿ou￿￿, were as follows.. 2022 2021 £000 £000 Aulhoriseil. bui nol ¢ontr8cied'. P8ti8h Vision Fund BenefaGt Granl Fund Clergy Housuig Fund 128 ss 187 544 67 340 22. Called up share capital The charitable ¢ompany is limited by guarantee, regislered in England and does not have an aulhorised or allolled share capital. Page 42 The Blaekburn Dlocesan Board of Flnance Llmlted Annual Report and Financial Stalemen15 For the e8r ended 31 Deceinb81' 2022 23. Nel assets analysed by funcl Tanolblb FlxEd Asseis FllodAsael nvestmènt NetCurreTrl As60ts Lono lemi Credltor laE$ets ag at 310ecember 2021 £OOD £000 £Q(M) £000 £000 Gen&ral F Desunaled Funds 1,677 6,826 446 317 2,536 8.520 2,982 Total Unrestrlcted Funds 1,677 6,972 2,853 11,502 Pastoral Accourt Other Restrlcied Fiinds 7.656 4.387 1,023 11,886 1,304 281 Total Restrl¢ted Funds 7,656 281 5.410 13,1 Parson8ge Houses Fund Sllppnds Casllal l Houslng Fund other Endowmpnl FUNIS 26.006 f.047 27,953 3,g86 10,821 4.492 485 15,292 4.497 Total Endowment Funds 30.892 16,360 490 47,742 Total 40.225 23.613 8,753 11571 72,434 24. Unreslricled funds Unrestrlcled lund5 coniprise Ihose lunds which are avallalle for 8pplication for the general purposes ol the charily as sel out in ils goveming documenl. Movements on Ihis fund aro as follows.. At 1 Janutjry 2022 Èooo Al)1 De¢embpr 2022 £000 Galns and losscs £000 Incom& Expèndllu Èooo £000 Transfers £OOD G8neial Fund 9,275 8,877 13.4401 16671 15,3051 8,520 At I January 2022 £000 At31 Galns and 1055es DeGember 2022 £OOD In¢orne Expendlture £ODO £ouo Transfers £000 £OOD Designaled FurKIs offl￿ Assets Fund Parsollage$ Fund Parish Vislon 2026 Grant and Loan Fun DIoc8$an Vk4Kin Slralegi¢ Development Fund DI0￿San Vi$lon 2026 Fund AllchurchesTrusl Grant Fund Other Dè51gnaled Funds 1581 439 323 323 822 56 863 578 478 265 83 1251 553 464 238 lQ2 80 1831 19 149 1781 1581 1641 Page 43 The Blackburn Dlocesan Board of Finall¢e Limited Anniial Report and Findn¢ial Slatein8111s Foi Ihe ear ended 31 Deceirber 2022 Des5gnated Funds Fund Income for 8pecifiG PUtPOS8S o(rKeAssBls Fvnd Applicationlpurpose Deslgnaled lo provide incume lo spÈcifi¢ purposes in parish Shara budgel Designated lor rapails, renovalion or for buying a new building in the future. For r@paiFS and disability adapt8tion on parsonages in excess of pailsh share budgel Designated Iv provide sotne ol the10gns lo parishes lo conlinu8 their tni55ion projects Diocesgn VIsh)n slra18gk Jeveknpm8nlDe51gnaléd lo provide match funding ne¢ess8ry for Str&teglc Fund Development Funding 8ppllcations Olttesan Vtsion 2026 Fund Deslgnated lo ¢ontingen¢iÈs for the development ol the diocesan vision The fund assists with fundlng the c05t ol diocesan projécts, building adminislration cost5, educatK)n, parish mission projects and major building works. P¥rsonage$ fund Parish Vislon 2026 Loan Fund Allc*urchesTrust Grgnl Fund 25. Reslri¢led funds The income funds of th8 charlty inclLrde restricted funds cotnprising Ihe followng unexpended balance8 of donalions. yranls and investment incorne held oli Iru51 lo be 8pplled for specili¢ PUTP05es.' At31 At q January Galns and DeGomber 2022 losses 2022 £OINI £0 Income Exptrndltur £000 £000 Transfers £000 £000 Diocesan PasloralAc¢ounl r*o¢esan Stipends Fund Inc(wne A¢¢ount SociBI Responsibihly Pfojecis Padsh Vlslon 202fj Grant Fund Bishops Clergy Wdows Fund Bishops Ordinat￿n Fund ResourrAng min￿le￿E1 Educallon IRMEI Fund Slshop'5 HsiveslAppe31 Slshop's Clèrgy In Need Fund SDF Fundod Projecis Lower Income COIT￿nItIeS Funding Parish Pastoial Fund otherReslri¢ted Funds 9,430 1.W23 496 11,701 1,579 19 18,0631 6,484 97 676 152 1621 1901 78 629 152 123 16 37 221 161 20 37 37 2,101 12,0821 42 1.402 (3011 11,139) 190 556 lJf281 1ff2 10,987 111.5341 13n 13,190 The specific purposes foi which Ihe funds are to be applied are as Idlows.. Fund AppllGatlonlpuTpose Dlocesan Pasloral Accounl Purposes a￿ laid down in Seclion 76 of the Pastoral Me8sure 1S83, the maln purposes being.. Cosls incurred for the purposes of the Measurp or any scheme or order made by the measure except forsalaries of regulardiocesan ernployees Cosls of disposing of orrnalnlalnlng h0115es or churches vested In Ihe DBF or Commissioners For the benefll ol another diocese Tiansler to th8 DSF Cdpilal or Incorne Funds Diocesan Stipeiyls Fund Incotne Subject lo any charges iinwsed by Ihe Scheme or order the fund shall Accounl lJe applied lo.. Piovide or3ugmenl stipends ol Incumbent5. as$i818nl curales and others engaged in the cure of souls iii the Diocese Meet expenses iiicuiied In rep8Iring and tnainlaining parsDnag8 houses P8ge 44 The Blackburn Diocesan Board of Finance Limiled Annual Report and Financial Slalemenls For the par ended 31 0eceml)er 2022 Paying secondary Class I conlribulions in respect ol minlslers not employed under 8 contract ol service Defray 5equeslralors' expenses Social Responsibility Projects The Social Responsibility seclion re￿1Ved funding for speafic pioje¢ls and for lis goneial coglb ￿latIng lo those projects. Project funding was reslrfcled to the projecl il had b8&n reqijesled for and approved expenditu￿ is applied against the fundlng in arcordance with th8 funders rules. Parish Vision 2026 Giarnl Fund The Grant Fund exists lo enable p3rishes lo lulfil mtsslon opportunltie5. normally through the appoinlmEnl oflay W0￿erS. Bl$hops Clergy Widows Fund The B15hop's Clergy Widows Fund is used lo help dergy widows and r8tired clergy in cases ¢rf lin8ncial haidship, particularly with houslllg costs. 11 furnd5 lh8 cost of social 6venls and the cost of the Diottesan Officer and Blshop's visitors. Blshops Ordination Fund The Ordin8llon Fund 18 used lo asslst fft881ing the costs ol Ordlnands in tralning. Blshop's Halvest App8al Each year the Biahop s&Ee¢ls a charily to ben¢fil from his Harvesl Appeal. Paiishes, Schools and individuals wilhln th8 Dlocèse collect money in support of Ihis ch81ily and the monies are di5tiibuted by the Dlocese in accordance with the appeal. The fund was eslabllshed by transfer of some of the Extra Mi$5ion and Ministry funds rpceived from the A¥chbishops' Counril 2008 2010. Grants from Ihe fund are award8d at the dlGcrelion of the Bishop, lo seNlng dorgy in Ihe Di0￿se. Blshop'8 Clergy Fund Resourcing Mini8lerial Educ8Uon IRMEI Fund Specific fijnding for Ordinands in tralnlng ftom Nallonal Churth. Strategic D2veloptnenl F￿lI. Funded ProjEcIs Specific fundlng for the Outer EstEles project and Preston Resourcing pari8h from National Church Lowerlncorn8Communili8$Fund Funding lo prornole the growlh of thurches in Lower Inwrne Comrnunilies Pailsh Pastoral Fund This fund reflects monies ring fenced from the Sale uf a vl¢arag8 In a parish wherg no scheme lor pastoral ro-organisation Is C￿rrentlY in place. The monies must be h8ld until either 2 vicarage is purdiased, or a 5ch8me is put in pla￿. Page 45 The Blackburn Dloeesan Board of Finance Limltèd Annu31 Report and FIn￿nCIal Slal8iHenls For the ear ended 31 December 2022 26. Endowment funds The endowment fund$ are held on Iiust to be relained for Ihe benefit of the Charity as a capital fund. Where the whole of Ihe fund Inu5t be permanently rnalntained il is known as permanent e￿OWMent. V4lhere Iliere is power of discretion lo convert endowed funds into incorne, Ihe fund is classilied as xpendable endowment. At31 Dtcember 2022 £000 At l JaThuary 2022 £000 Galns and Ios5ÈS £000 Income ExpenditUTe £000 Transfèrs £000 £000 DK)¢esan Stlpends Fund ca￿la1 Accounl Pars¢nage House5 Fund OtlJerPerm8neiifendowment Bishops Cbigy Mlidiw5 Fund m8inlenkn￿ oflhe MlnL41ry General puiposes alley Ab￿Y Oihgrendowments SllperLds 16,213 28,589 257 15,292 27,953 14961 12991 142) 1521 1231 2.263 314 391 171 64 1,274 356 443 194 94 1,443 1169) 49,694 257 11.9091 14961 47,742 The Dlocesan Stlpends Fund Capital Account This fund repiesenls the value of glebe property and inve51menls al the balance sheet date and is a permanenl endowment fund. The account 13 governed by the DIoc8san StIP8nds Fund M&asuiE 1953 as amended by the Endowments and Glebe Measure 1976, the National Inslitulion5 Measure 1998, and the Miscellaneous Prowsions Measur8 1992. Incorne arises from lh8 sale of 916be assets, the Iransler of parsonage sale Inoney, Iranslers from the DSF Income aGGounl. as well as gift5, beques15 and donats"ons. The main lunction of ihe luiid is to produce income foi the slipend5, but il way also b8 ilsed for other purposes includlng.. acqulring glebe prop8rty. Investing In a Subsidlary, developing and prolpcllng glebe amenllies, Investtnenl, discharging 5oans and levie5 on gleb&, improving parsonage hous8s and distharglng any losns T113de by 11)e Church Commissioners under the Endowtnents and Glebe Measure 1976. Parsonag85 Houses fund Thls fund r8pre5enls the value of benefice houses al the balance sheet dale. together with tho Parsonag95 8uilding Fund held by the Chur¢h Comrnissioners and inveslmenls held by the Parsonages 8oard. The hous85 ale used lo piovide accommodation for Ihe parocliial clergy. The Diocese is not free lo dispose ol Ihe hou5e5 except in ac¢ordance wilh the appropriale measure. There Is piovision for Ilie nel proceeds of sale lo be applied lo ellhèr the Diocesan Pastoral Account or Diocesan Stipend6 Fund CapilBI on¢$ o dlskX)sal h8s been effected. The Parsonage Houses fund is an expendable endowrnenL Oth8rPermanent endowments 'rhe perman8nl endowTnents are established undei a variety of trust deeds and documents which rÈquiie the funds lo bp held in perpoluily. The Incoffle ol the funds is to be applied lo the Bishops Clergy Widows fund, Maintenanco of the Minislfy lund, General PUTposes fund, Oiocesan Slipends In￿rne fund, Whall&y Abbey lund aiid olhei. snialler endowment funds. Page 46 The Bla¢kburn Dlocesan Board of Financè Limited Annual Report and Finan¢Sal SlalÈrnenls For the ear ended 311)ec&mber 2022 27. Related paities, transactions During the year (he company sh8red office Space with Ihe Blackburn Dlocesan 8oaid of Education and Cidari Education Lld. Shaied and staff lime eKpendllure has been ￿Charged at co8t. 2022 2022 2021 ReGharge5 lexcl. VATI 2021 Giants madB to Recharges (excl. VATI Grants made lo related partres partEs Wackburn Dlocesan Board ofEduralion Cldari Eduoaliofi Ltd Ylad(burn Cathedral Emm3nuel TheD10g￿￿I CDllege (formarty the Saints Centre for M155knn and MlnPstryl 24.314 10,492 U,038 9,700 359,360 15,953 9,887 24.570 28,292 336,914 999 Dunno the y8ar £164.462 has been pald to Emmanuel Théological College Ilormally the All Sainls Centre lor Mission and Miiii81ry1 loi Iiainin9 01 regders and ordinands12021.' £Y26, 798). Al the year eTTrd the b818nces due from relaled partie5 Were as follows.. Outstanding Ou15t3ndlng Outslandlng Outstglldlng Trade Loan Trade Loan B8lan¢25 at BalanGes al Balances al Balancos 81 3111212022 3111212022 3111212021 3111212021 Cidarl Edwslion Ltd BLq¢kbum C8lliedral Ernmanuèl Theologl¢al College Ifoimaly A Salnls Cellliel 11,126 5,110 17,048 17.857 70 42S,340 10.000 745,791 10,000 At 31 D8￿mber 2022 Iheie was a balance due lo the Blackburi) Dlocesan Board of Education of £169,926 12021.. £IT8, 185) and there was no balawe due to Emmanuel Theological College {2021.. £9,681). During th& year donalions received Iiorn IIu8lees amounted lo £4,494 12021.. £4, 1021. No donallons h8ve been r&¢eived from key management personnel12021.' £niO. Page 47 The Blackburn Dlocesan Board of Finaiicè Limlled Annual Report 8iid linan¢ia1 Slaleinen15 For the ear ended 31 Decembor 2022 28. Financial inslriiinenls 2022 £000 £000 Flnanclal assets mea5ur@d at fa￿va￿e 23,612 26,553 Financlal as991$ m8a$ured atamortlsÈd o)sl 10,281 8.220 Flnanual Ilabllilitrts measured at amortbed cost 1.528 1,701 Financlal Ilabilillets measured al lalrvalue 157 167 Finan¢la1 assels rne&sured al 18irv8lue comprise Investmgnts. Financia1 assels measiired al Bmortlsed ¢osl ¢omprLs& cash, trade debtors. olherdtblors and reGeivables and parish loans. Flnanclal liabilities measvred al amortised cost cOT￿rIs￿ accru8ls, olh8r creditors, theClergyPen51on Scheme IHbililyand amounis heldfr)rolhertrt)dies. Flnanclal Ilabillies Tneasured al farr value compiise value linked loans. 29. Funds held as cuslodian Iruslee The BDBF is custodlan Iruslee of assets held on permanent trust by vlrtue of the Paro¢liial Church Coun¢lls (Powers) Measure 1S56 8r)d the Incurnbenls and Chuichwardens ITru818l Measure 1964 where the managing trustees are parochial church councils Bnd others. PCC trust Investment aEsels held by lh8 BDBF have b88n 5ummarised below at market value.. 2022 £000 2021 £ocx) CBF ChurGh of England D8po$ll fund CBF Church of England Inveslmenlfund CBF Church of England Fixed IDleiesl fund CBF Church of England Property fund Other Cash 81 bank 4,586 10,459 257 61 4,811 12,034 33fj 70 44 Toial assels held as cuslodian Iruslee 15,418 17,297 The 8DBF also acts as custodian Iruslee in relation to Parochial Church CourKil IPCCI property. These 888ets are held separately lo those of the BDBF. Page 48 The Bla¢kburii Dlocesan Board of Finan¢e Llmlted Annual Report and financial Slaleinenls For tlie ear ended 31 December 2022 30. Prior year coinparalive Slalemenl of Financial A¢livilies Total lunds uh￿St[l¢led funds Restrlcted runds Èooo Endowffjenl funds £O(N) Geneial £000 Des￿n￿red £000 2021 £000 Income and endowm8nts Irom.. Don8lK)ns le.9aGie5 Paiksh conlribiilions Archbishop$' Coufic￿ and Chufch commls51oDeis Other Chsrilable s¢tivilles.' staiulory fees, chaplBin¢y and olherin¢o Other trading aclivilies Invtrtslmpnls Olher 7,46g 7,469 63 110 2.688 116 2.751 317 79 126 161 226 330 602 108 463 7( 72 377 732 1,094 108 30 55 13 Total Income and endowmgnls 8.485 92 4.fje6 205 13,468 Expendilure on.. Raising funds chartlats￿ acllvllle5 Other 229 2.901 io 8,252 25 1,219 148 38 12,410 193 Total Expendilure 3,130 38 8,307 1,392 12,867 Nel incomel1exp8￿ltur9} befortr in¥Eslmenls 5,355 54 13,6211 801 Nel Ilossyoains inveslmenis 927 61 37 2.072 3,097 Nel incomaflexpendllurtyl b8fore Iran$fers Ti8nsfer$ between funds 6,282 15,5801 116 292 13.5841 3,502 885 1.786 3,698 Nel IncomellexpendiluTel b8fore other re￿gnISed gaiTrs and loss8s 702 407 1821 2.671 3,698 Other recognL¥ed galn51lloss851 G8inlllDssI on revaluallon of frxed a5$615 Gal￿1{10$$I on dofined beiElil pension schemes 99 154 253 1221 N81 movemehl in funds 779 407 182) 2.825 3,929 Re¢oncili31ion ol funds Total funds at l J8nU8ry 2021 8,496 2,626 11,069 47,089 69,260 Total funds al 31 Dtcembpr 2021 9,275 3,033 10,987 49,e94 73.189 Page 49 The Blackburn Diocesan Board of Finance Llmited Annual Reptsrt and Financial Slalem8nts For Ihe ear ended 31 Deceinbei 2022 31. Prior year eoirparalive Archbisl)ops' Colincil aiid Cl)ur¢h Commissioners Tol31 funds 2021 £000 Unfeslricled lund Designated £000 RestfiGI funds £000 Endowmanl Funds £000 General £000 Low951 Income Communllle$ Fundlng Resthircing Mlnlslerlal EduGallon Block Grant Sl1&leg￿ Mlnlstry Fulld Slialeglc Cap8cily Funding Sltal8gic DpvelDpmeTrl Fundlng Pag1 Cases Review 2 Funding 1,355 1,355 212 212 213 55 213 33 853 85J 63 2,688 32. Prior year comparative Other donations Total runds Unreslrfcled Funds General Designated EOOO £000 78 Restricled Fund¥ EndowTneTrl Fun(tts £000 2021 £000 156 Allchurches Ttusl Oonalions Olh$r Granls 78 18 14 48 68 110 116 12 317 33. Prior year eomparalive Charitable aciivilies Toial funds 2021 Unreslficled Funds Gbnfrral 068ignBIDd £0 £000 ReslrKled Endowment FufKIs Funds £000 £000 Slglulory fees,. ch3plaincy iDGOtnÈ Church Comtni8sioners-Guaranleed 506 506 Rechaoqe of staff cosis halley Abbay Conference HoLtse Incoine for liainlng courses Oth81 f¥esls8les 68 57 36 33 27 126 728 34. Prior year comparative Ollier trading activities Unre61rlcled lunds Dèslpnated EOOO Re51ircl@d Funds £000 108 Erbdimmenl Funds £000 107 funds 2021 £LK)o 284 Genèral £000 69 Renlal1ncorne alley Abbey Confarence14ouse Accounling and Lega1 strvKe5 Con$ullgncy service5 Other lèesl581es 18 36 36 161 108 108 377 Page 50 The Blackburn Dlocesat) Board of Financ6 Limited Annual Report and Financial SlalÈmenls For Ihe ear ended 31 December 2022 35. Prior year comparative Iiiveslmenl Ii)Goine Unrestricted lunds G¢ngral Ooslgnal £0 Endownienl Funds rolal funds 2021 Fund& £000 225 £000 431 £000 Eooo Dlvld8nds recelvablÈ Inleie81 r6celv8b Rents receivabla 6g9 31 31 226 463 30 n2 36. Prior year ¢oinparalive Other income Unrpslrfcled funds G&netal Ooslpnai8d 2(N)O £0 325 Endowmeni Funds £000 Yolal funds 2021 EOQO GBins on dLsPQ$81 offlxod asseis G31n5 on dl8pasal Of Inveslmenis Loall Inlerést £000 ),050 19 25 20 330 709 55 1,094 37. Prior year Gompaialive Cost ol raising funds Unieslri¢ied funds General De&￿Trat&d EOOO Tol funds Reslrided Fu￿5 Endowmenl Funds £000 2OZ1 £000 Projecl ManBgemenl P8rL%h 8hAre 12 12 12 Archd8acon$ Invoslmenl Manfjg8menl Lost$ Wh211èyAbbey Ronts R8nl8 Fundralslng Trading Wh811ey Abbey Fundraising Trading olhar 41 41 34 102 25 102 53 229 io 25 264 Page 51 The Blackburn Diocesaii Board of Finance Limlted Annual Report and Flnan¢i81 Statemen15 For Ihe eai ended 31 Deceinber 2022 38. Prior year ¢omparalive Expenditure on charilable activities Unreslrictod General Oe$kJnaied Endowment Toial tund$ 2021 £oi)o FundA £0 Fiinds £000 Éooo EOOO Contrlbutlons io Archblsliops. Councll Trainlw lor mlnislry Nallonal Church r•sponsfo11ki8S GroDls and provlslons Mission Ag8n¢y penslon ¢onlrlbulh)n$ Rellred clergy housillg cosis IC14ARMI Poollng ol Drdlnand Gand￿aleS costs Genersl 81 ynod expenses 302 302 211 26 26 13 37 37 10 710 710 Parish minislry Stipends & Nalionel Insurancp Pensbn contribullons Housing ¢0515 Rernoval, r*setllem8nt and olhér granis Olher axpenses 4,665 1,346 291 4.665 1.347 1,555 44 1,219 232 232 75 75 45 6.609 1,219 7,674 Support for p8rtsh minisl Whalley Abbey Conference House Redundanl churches Slralaglc 08velopment FurKling 1,487 192 165 1,652 192 73 73 717 36 720 Sl Phlllp's Centre Project Grants lo Parisle5. IndbvidvRls and other ¢harllias MbcelIa￿e0uS Exp9nSè$ 129 652 788 2b 27 1,809 37 1,643 3,489 Expetbdkure on Èducallo Gianis for Ihe wotk of the Board 337 337 337 337 Charitable activities 2,901 38 8,252 1,219 12.410 Page 52 The Blackburn Dlocesan Boayil of Finance Limlled Annual Report and Financial Slalemenls For the ear ended 31 Dec8mber 2022 39. Prior year compai'alive Analysis ol oxpendilure Including allocallon of support wsls Manage- menl Granl funding ol Actwllles undèrtaken Admin Tolal 2021 Support EOC £000 £ooD Fundrglslng Ttsding WhalleyAbbay Co81 of raigiw funds Conlrlbullons loArchbishops' Coundl Resourclng minlsiry 8tKI ml$$lon Educ81ion 102 132 30 162 710 11,363 337 Yio 983 9,413 337 193 193 9,840 2,030 997 12.867 40. Prior year comparative Analysis of support costs nresi1￿[erf fund& Gener21 DeslJnai8d £000 Reslikted Fthd8 £000 Endowtllenl Fund$ £000 2021 £000 24 £000 Rak81llg Funds Centr81 Aamlnlsifallon GoveinanGE cosis Secr818rlal Accounllng and Finance OffK8 Audil & accounl8o¢y leès Diocesan Synod ¢0sls 06F Execulive and 8ishops Council Dnp.olings chan￿1k)i aiKI Re9isligr Feas 20 759 759 71 71 38 23 23 57 57 991 41. Prior year comparative Nel assets analysed by fund N8t¢uriÈitl Asse15 Assets Lang lenn ¢redltDr assets a8al 00 2021 £000 £(K)o £000 GeneF81 Fund D6si9naied Funds 1.798 7,392 492 886 2,541 18011 9,275 3,033 Total Unreslrfttgd Funds 1,796 3,427 IB011 12.308 Pa51oral Accouiil OlheF Re51ikla¢J Fun(15 7,267 2.320 1.239 9.430 1.557 318 Total R8$lilcled Fund¥ 7.267 318 3.559 11S71 10,987 P8rson&ge Houses Fulld Slpends CaFMlall Hoiislng Fund Other Er￿Ow￿nI Funds 27.402 1.187 28.SB9 3,804 12,079 5,087 330 16,213 5.092 Total Endowfflenl Funds 31.206 18,353 335 49,894 Total 40,271 26,55B 7,321 195111 73,189 Page 53 Thè Blackburn Diocesan Board of Finance Llinlted Annual Report and finaiicial.£talemenls For the ear end8d 31 Oocombei 2022 42. Prioi year comparalive Unreslricled fund5 At31 At 1 Jaiiuary 2021 £000 Gains and 105ses December Income Expendlture Èooo £ODO Translers EOOO 2021 £ODO £000 General Fund 8.4% 8,485 13,1301 l.W4 15.5801 9,275 At31 02cemb8r 2021 £000 At l January 2021 £000 Galns and losses £000 Inoomg Exp8ndlture £000 £000 Translor$ £OQD 085iynated FLinds Offl¢tAsseis Fund Parsonages FuThl 81 324 323 Paibh IA51on 2026 Flind Diowan Vision Slralegk Dtvelopmenl Fiind Dlocesan VBion 2026 Fund Allchurches Trusl Giant Fund Olhet Design&ted Funds 421 400 822 629 420 298 123 1491 578 478 265 79 1401 2,626 92 (381 61 292 3,033 43. Prior year comparative Reslricled funds At3 December 2021 £000 At l January 2021 £000 GaSns tjnd 105ses In¢ome Expendlture ÈDOO £ooD Tran5feis £000 £000 Diocesan Pa$ioralAcGounl Di0￿san Stipends Fund Incotne Account Soclal RÈ.sponsibilily Projects PaTish Vision 202fj Granl F￿nd Blshops CIBrgy Wtdows Fund Bishops Ordination Fund 9,5S2 711 9,430 1.317 28 16,6241 13$) 5.307 134 126 148 613 154 26 1991 1501 23 37 676 152 Educallon BMEI FunrJ Bishop's Hap*sl Appeal Blshop's Cbigy In Need Fund SDF Funded Projects Lower Incomè Communttkgs Funding Ptsiish Pasloral Fulld Ollier ReslFKled Funds 89 212 23 123 16 1241 Y12 19441 1261 1,355 12041 166 154 152 28 1261 11,069 3,686 18.3071 37 3,502 10,987 Page 54 The Blackburn Diocesan Board of Finance Limited Annual Report and Financial Slaleinenis Foi Ihe eai 8nded 31 December 2022 44. Pi'ior year comparative Endownienl funds At31 D&Gember 2021 £000 At l January 2021 £000 Galns and los$e$ £000 Incomg Expont¢itiire £000 Transfers £000 £000 E¥pendablè endowm8rJf Dlocesan Stipends Fund ¢9Pi Account Parsonage Houses Fund 14,869 27,725 55 150 1,437 149 16,213 28,589 11.2441 1,809 42,594 205 11.3921 1,586 44.802 PermarJen£endown?eAIt Blshops c￿rgy￿d￿$ Fund Malnlenance ol Ministry General pu￿oSe$ halley Abbey Olherendowmenls 2,241 311 387 170 102 1,264 321 45 55 24 15 180 2562 356 443 194 94 1,443 1231 4,475 (YJI 5.092 47.1￿9 205 11,3921 2.226 1.786 49,894 Page 55