2022-12-31-accounts

ableofContents
	Page
Directors'AnnualReport	2
LegalObjects	2
StrategicAimsandObjectives	2
Environment,SocialandGovernance	3
AchievementsandPerformanceintheYear	4
FuturePlans	9
FinancialReview	10
PrincipalRisksandUncertainties	13
Structure,GovernanceandManagement	14
AdministrativeDetails	21
IndependentAuditor'sReport	24
StatementofFinancialActivities	29
IncomeandExpenditureAccount	30
BalanceSheet	31
StatementofCashFlows	32
NotestotheFinancialStatements	33

CBF	CentralBoardofFinance	ODBE	OxfordDiocesanBoardofEducation
CEFPS	ChurchofEnglandFundedPensionScheme	ODBF	OxfordDiocesanBoardofFinance
CEPB	ChurchofEnglandPensionsBoard	ODBST	OxfordDiocesanBucksSchoolsTrust
CSUST	ChurchSchoolsUniformStatutoryTrust	ODST	OxfordDiocesanSchoolsTrust
CPI	ConsumerPriceInflation	PACT	ParentsandChildrenTogether
CPIH	ConsumerPriceInflation(Housing)	PCC	ParochialChurchCouncil
DAC	DiocesanAdvisoryCommittee	RPI	RetailPriceIndex
DT(O)L	DiocesanTrustees(Oxford)Limited	SOFA	StatementofFinancialActivities
EIG	EcclesiasticalInsuranceGroup	SORP	StatementofRecommendedPractice
ESG	Environment,Social&Governance	UKME	UnitedKingdomMinorityEthnic
FRS	FinancialReportingStandard
ICV	InitialCarryingValue
LPI	LimitedPriceIndex
MPC	Mission&PastoralCommittee

Date: 22 September 2023

		Unrestri	ctedFunds
		General&	TangibleFixed	Restricted	Endowment	Total	Total
		Designated	Assets	Funds	Funds	Funds	Funds
		Funds	PropertyFund			2022	2021
	Note	£'000	£'000	£'000	£'000	£'000	£'000
IncomeandEndowmentsfrom:
Donations	2	19,158		1,059		20,217	19,204
Charitableactivities	3	2,457	-	700	-	3,157	2,801
Investments	4	1,092	-	203	2,679	3,974	3,257
Othersources	5	7				7	90
Total		22,714		1,962	2,679	27,355	25,352
Expenditureon:
Raisingandmanaging
funds	6	395			430	825	895
Charitableactivities	7	28,323		1,680		30,003	29,184
Otherpropertycosts	8		106		6	112	724
Total		28,718	106	1,680	436	30,940	30,803
Net(expenditure)/income
beforeinvestment(losses)/		(6,004)	(106)	282	2,243	(3,585)	(5,451)
gains:
Net(losses)/gainson investments		(4)		(123)	(6,377)	(6,504)	17,422
Net
(expenditure)/income		(6,008)	(106)	159	(4,134)	(10,089)	11,971
TotalReturntransfer	14a	7,852			(7,852)
Othertransfers	14b	59	10	6	(75)
Net(expenditure)/incomeafter		1,903	(96)	165	(12,061)	(10,089)	11,971
Transfers
Otherrecognisedgains:
Gainsonrevaluationof
tangiblefixedassets	15		1,764		5,313	7,077	31,214
(Losses)/gainson
definedbenefitpension	25	(53)			684	631	(43)
scheme
Netmovementinfunds		1,850	1,668	165	(6,064)	(2,381)	43,142
Totalfundsbrought
forward	20	16,156	81,393	2,344	422,892	522,785	479,643
Totalfundscarried		18,006	83,061	2,509	416,828	520,404	522,785
forward

	Total	Total
	2022	2021
	£'000	£'000
Income	24,676	22,958
Expenditure	(30,504)	(30,101)
Operatingdeficitfortheyear	(5,828)	(7,143)
Net(losses)/gainsoninvestments	(127)	121
Transfersfromendowmentfunds	7,927	6,971
Netincome/(expenditure)fortheyear	1,972	(51)
Othercomprehensiveincome:
Revaluationoftangiblefixedassets	1,764	6,808
Actuariallossesondefinedbenefitpensionscheme	(53)	(729)
Totalcomprehensiveincome	3,683	6,028

BALANCESHEETasat31Decem	ber2022
			2022		2021
	Note	£'000	£'000	£'000	£'000
FIXEDASSETS
Tangibleassets	15		355,935		349,917
Investments	16		153,080		159,800
			509,015		509,717
CURRENTASSETS
Debtorsdueaftermorethanoneyear	17	72		196
Pensionschemesurplus—staffscheme	25			77
Debtorsduewithinoneyear	17	1,977		1,833
Cashondepositandatbank		17,074		18,614
		19,123		20,720
CREDITORS:amountsfallingduewithinone
year	18	(5,072)		(4,224)
NETCURRENTASSETS			14,051		16,496
TOTALASSETSLESSCURRENTLIABILITIES			523,066		526,213
CREDITORS:amountsfallingdueaftermore
thanoneyear
Pensionschemeliabilities—clergyscheme	25				(684)
Othercreditors	19		(2,662)		(2,744)
NETASSETS			520,404		522,785
FUNDS
EndowmentFunds
(includingassetrevaluationsof£236,103K(2021:£237,167K))			416,828		422,892
RestrictedIncomeFunds
(includingassetrevaluationsof£323K(2021:£446K))			2,509		2,344
UnrestrictedIncomeFunds:
TangibleFixedAssetPropertyFund			83,061		81,393
(includingassetrevaluationsof£47,773K(2021:£46,009K))
DesignatedFunds			9,199		7,151
GeneralFund
(includingassetrevaluationof£297K(2021:£301K))			8,807		9,005
TOTALFUNDS	21		520,404		522,785
Thenotesonpages33to71formpartof	thesefinancialstatements.Thefinancialstatementswere
approvedbytheDirectorsandauthorisedforissueon2		May2023andsignednbhalfoftheDirectors
by:

STATEMENTOFCASHFLOWSFortheyear	ended31December	ended31December	2022
		2022	2021
	£'000	£'000	f '000	f '000
Netcashusedinoperatingactivities(BelowA)		(6,291)		(6,381)
Cashflowsfrominvestingactivities
Dividends,interestandrentfrominvestments	3,766		3,257
InterestPaid			(2)
Proceedsfromthedisposalof:
TangibleFixedAssets	1,644		1,593
FixedAssetInvestments	18,468		20,612
Purchaseof:
TangibleFixedAssets	(816)		(579)
FixedAssetInvestments	(18,330)		(20,193)
Netcashprovidedbyinvestingactivities		4,732		4,688
Cashflowsfromfinancingactivities
LoansrepaidtoODBF	54		57
NewloansadvancedbyODBF	(35)		(7)
Netcashprovidedbyfinancingactivities		19		50
Changeincashandcashequivalentsintheyear		(1,540)		(1,643)
Cashandcashequivalentsat1January		18,614		20,257
Cashandcashequivalentsat31December(BelowB)		17,074		18,614
Reconciliationofnetmovementinfundstonetcashusedin
operatingactivities
A. Netexpenditurefortheyearbeforeinvestment(losses)		(3,585)		(5,451)
gains
Adjustmentsfor:
Depreciationcharges		138		142
Dividends,interestandrentfrominvestments		(3,766)		(3,257)
Interestpaid				2
Losses(gains)onsaleoffunctionalassets		(7)		57
Decreaseindebtors(exloans)		57		232
Increaseincreditors(exloans)		848		1,350
Clergypensionschemeadjustment		-		12
Staffpensionschemeadjustment		24		22
Recoupmentofimpairment				510
Netcashusedinoperatingactivities
		(6,291)		(6,381)
B. Analysisofcashandcashequivalents
Cashatbankandondeposit		17,074		18,614

	Rateperannum
Motorcars	25%ofcost
Computers	331/3%ofcost
Otherofficeequipment	5%to25%ofcost

		2022			2021
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	Funds	Funds	Funds	Funds	Funds	Funds
			2022			2021
	£'000	£'000	£'000	f'000	f '000	f'000
Parishcontributions	19,300		19,300	19,075		19,075
Sharerebatesand
discounts	(568)		(568)	(486)		(486)
	18,732		18,732	18,589		18,589
Archbishops'Council					9	9
BenefactTrust	219		219	232	-	232
Otherdonations	207	1,059	1,266	94	280	374
TotalIncome	19,158	1,059	20,217	18,915	289	19,204

		2022			2021
	Unrestricted	Restricted	TotalFunds	Unrestricted	Restricted	Total
	Funds	Funds	2022	Funds	Funds	Funds
						2021
	£'000	£'000	£'000	f'000	f'000	£'000
Statutoryfees	876		876	887		887
Training,eventsandsimilar	126	700	826	113	685	798
Housingincome	1,319		1,319	1,043		1,043
Schoolpremisessupport	133		133	72	-	72
Other	3		3	1		1
	2,457	700	3,157	2,116	685	2,801

TESTOTHEFINANCIALSTATE .IncomefromInvestments	MENTS(Con	t'd)
		2022
	Unrestricted	Restricted	Endowment	TotalFunds
	Funds	Funds	Funds	2022
	£'000	f'000	£'000	£'000
Dividendsreceivable	1	185	2,471	2,657
Interestreceivable	205	18		223
Rentsreceivable	785			785
Otherinvestmentincome(e.g.solar	101		208	309
panel)
	1,092	203	2,679	3,974
		2021
	Unrestricted	Restricted	Endowment	TotalFunds
	Funds	Funds	Funds	2021
	f'000	f'000	f'000	f'000
Dividendsreceivable	1	180	2,360	2,541
Interestreceivable	23			23
Rentsreceivable	601			601
Otherinvestmentincome(e.g.solar	92			92
panel)
	717	180	2,360	3,257

					2022	2022
		General	TangibleFixed	Restricted	Endowment		TotalFunds
		Funds	Assets	Funds		Funds	2022
			PropertyFund
		£'000	£'000	£'000		£'000	£'000
Surplusondisposalofmotorvehicle		7					7
		7					7
				2021
		General	TangibleFixed	Restricted	Endowment		TotalFunds
		Funds	Assets	Funds		Funds	2021
			PropertyFund
		f'000	f'000	f '000	f	'000	f '000
Surplusondisposalofproperties			10	-		-	10
Disposalofclosedchurch				3			3
Furloughgrants		12				-	12
Otherpropertyincome			31	-		34	65
		12	41	3		34	90
6. ExpenditureonRaisingandManagingFunds
		2022				2021
	Unrestricted	Endowment	TotalFunds	Unrestricted		Endowment	Total
	Funds	Funds	2022	Funds		Funds	Funds
							2021
	£'000	£'000	£'000	f'000		f '000	f '000
Glebecosts	264	430	694	244		518	762
Parsonagerentalcosts	101		101	132		-	132
Other	30		30	1			1
	395	430	825	377		518	895

OTESTOTHEFINANCIALSTATEME 7.ExpenditureonCharitableActivities	NTS(Cont'd	)	)
		2022
	Unrestricted	Restricted	Endowment	Total
	Funds	Funds	Funds	Funds
				2022
	£'000	£'000	£'000	£'000
ContributionstoArchbishops'Council
TrainingforMinistry	902		-	902
NationalChurchResponsibilities	566		-	566
Missionagencypensioncosts	39		-	39
Retiredclergyhousing	348	-	-	348
Grantsandprovisions	78	-		78
	1,933			1,933
ResourcingMinistry&Mission
ParishMinistry:
Stipends	9,705			9,705
Nationalinsurance	823			823
Pensioncontributions	3,213			3,213
Apprenticeshiplevy	44			44
Housingcosts	5,251			5,251
Removal,resettlement,parish&clergy
grants	307			307
Otherparishexpenses	1,081			1,081
	20,424			20,424
Supportforparishministry&training
Ordinandgrants	740		-	740
Diocesantrainingcosts	840	603	-	1,443
MissionintheDiocese	2,063	405		2,468
DAC,MPC&DT(O)L	411			411
Communications	354	-		354
Bishops,Archdeacons&AreaOffices	735			735
	5,143	1,008		6,151
Expenditureongrants
GrantstoOxfordDiocesanBoardof	269			269
Education(ODBE)
Grantstootherorganisations(seenote11)
	554	672		1,226
	823	672		1,495
Totalcharitableactivities
	28,323	1,680		30,003

xpenditureonCharitableActivities(Cont'd	)
		2021
	Unrestricted	Restricted	Endowment	Total
	Funds	Funds	Funds	Funds
				2020
	£'000	£'000	£'000	f'000
ContributionstoArchbishops'Council
TrainingforMinistry	924	-		924
NationalChurchResponsibilities	645			645
Missionagencypensioncosts	41			41
Retiredclergyhousing	340	-		340
Grantsandprovisions	79			79
Poolingofordinandmaintenancegrants	(5)		-	(5)
	2,024			2,024
ResourcingMinistryandMission
ParishMinistry:
Stipends	9,579		-	9,579
Nationalinsurance	782		-	782
Pensioncontributions	3,444	-		3,444
Clergypensionadjustment
(seenote25)		-	12	12
Apprenticeshiplevy	45	-	-	45
Housingcosts	4,000		-	4,000
Removal,resettlement,parish&clergy
grants	263		-	263
Otherparishexpenses	963		-	963
	19,076		12	19,088
Supportforparishministryandtraining
Ordinandgrants	698	11		709
Diocesantrainingcosts	672	654	-	1,326
MissionintheDiocese	2,039	342	-	2,381
DAC,MPC&DT(O)L	329	-	-	329
Communications	253	4	-	257
Bishops,Archdeacons&AreaOffices	546	-		546
	4,537	1,011		5,548
Expenditureongrants
GrantstoOxfordDiocesanBoardof
Education(ODBE)	269	-	-	269
Grantstootherorganisations(seenote11)	2,142	113	-	2,255
	2,411	113		2,524
Totalcharitableactivities	28,048	1,124	12	29,184

	2022
	Tangible	Endowment	TotalFunds
	FixedAsset	Funds	2022
	Property
	Fund
	£'000	£'000	£'000
Lossondisposalofproperties		3	3
Valuationandrelatedcosts	106	3	109
	106	6	112
	2021
	TangibleFixed	Endowment	TotalFunds
	Asset	Funds	2021
	PropertyFund
	f '000	f '000	f '000
(Gain)/Lossondisposalofproperties	(1)	69	68
Valuationandrelatedcosts	553	103	656
	552	172	724

		2022				2021
	Activities	Support		Total	Activities	Support	Total
	Undertaken	Costs		Costs	Undertaken	Costs	Costs
	Directly	(Note	10)	2022	Directly	(Note10)	2021
	£'000	£'000		£'000	f '000	f'000	f '000
Raisingandmanagingfunds
(note6)	737		88	825	824	71	895
Charitableactivities(note7):
Contributionsto
Archbishops'Council	1,933		-	1,933	2,024	-	2,024
Resourcingparishministry	19,872	552		20,424	18,647	441	19,088
Supportforparishministry
andtraining	5,052	1,099		6,151	4,658	890	5,548
GranttoBoardofEducation	269		-	269	269	-	269
Grantstoother
organisations	1,226			1,226	2,255		2,255
Otherpropertyrelatedcosts
(Note8)	112			112	724		724
	29,201	1,739		30,940	29,401	1,402	30,803

10.AnalysisofSupportCosts
			Unrestricted	Funds
			2022	2021
			£'000	f'000
Humanresourcesandadministration			277	292
Finance			395	315
Secretariat			203	201
ICT			325	202
Premisesandother			330	207
Governance:
Externalaudit			40	23
RegistrarandChancellor			154	128
Synodcosts			15	34
			1,739	1,402
11.AnalysisofGrantsMade
	2022	2021	2022	2021
	No.	No.	£'000	f'000
FromunrestrictedfundsforNationalChurch
responsibilities:
ContributionstoArchbishops'Council(note
7)	1	1	1,933	2,024
Fromgeneralandrestrictedfundsto
institutions:(Note7)
ParentsandChildrenTogether(PACT)	1	1	95	95
DevelopmentFundGrants	29	41	373	927
Ecumenicalandchaplaincygrants	3	3	41	52
Grantsforparishbuildingprojects	22	34	29	36
Bishopsdiscretionarygrants	4	4	16	21
OxfordDiocesanCouncilfortheDeaf		1		7
DiocesanMutualSupportgrant		1		1,000
HardshipFundsandEnergyGrants	705		647
Othergrants	23	33	25	117
	787	118	1,226	2,255
GranttoODBEfromunrestrictedfunds	1	1	269	269

TESTOTHEFINANCIALSTATEMENTS(Cont'd) 2.StaffCosts
	2022	2021
	£'000	£'000
Staffcostsduringtheyearwereasfollows:
Wagesandsalaries	3,319	3,104
NationalInsurancecontributions	357	314
Pensioncosts	410	465
Total	4,086	3,883
Theaveragenumberofpersonsemployedduringtheyearbasedon	Number	Number
headcount:
Charitableactivities	73	79
Support	23	19
Total	96	98
Theaveragenumberofpersonsemployedduringtheyearbasedonfull-
timeequivalents
Charitableactivities	61	64
Support	19	16
Total	80	80

Thenumbersofstaffwhoseemoluments(includingbenefitsinkindbut
excludingemployer'spensioncontributionsandNationalInsurance)
amountingtomorethan£60,000wereasfollows:
£60,001-£70,000	1	3
£70,001-£80,000	4	2
£90,001-£100,000		1

DiocesanSecretaryandCompanySecretary	CanonMarkHumphriss
DirectorofMission&Ministry	CanonAndrewAnderson-Gear
DirectorofFinance	MrJohnOrridge
DirectorofProperty	MrDavidMason
DirectorofHumanResources&Safeguarding	MrsPoliShajko
DirectorofCommunications	MrStevenBuckley

videdbytheODBFduringtheyear:
	Stipend	Housing
TheRevdCanonDrGBBayliss	Yes	Yes
TheRevdCanonJVBinns(from31/01/2022)	Yes	Yes
TheVenerableJChaffey	Yes	No
TheVenerableGElsmore	Yes	Yes
TheVenerableJFrench(to30/09/2022)	Yes	Yes
TheRevdR.1Lamey	Yes	Yes
TheRevdDWMcFarland	Yes	Yes
TheRevdDJMeakin	Yes	Yes
TheRevdJMMintern	Yes	Yes
TheRevdRAPeters	No	No
TheVenerableSPullin	Yes	No
TheRevdSESharp	Yes	Yes
TheVenDTyler(from01/10/2022)	Yes	Yes

	General	Designated	Total	Endowment
	Funds	Funds	Unrestricted	Funds
			Funds
	£'000	£'000	£'000	£'000
i) TotalReturntransferto
generalfundsfromEndowment	7,852		7,852	(7,852)
fund(note16c)
ii) Transferfromgeneralto	(3,912)	3,912
designatedfundsforCommon
Vision

	General	Designated	Total	Endowment
	Funds	Funds	Unrestricted	Funds
			Funds
	f'000	f'000	f'000	f'000
i) TotalReturntransferto
generalfundsfromEndowment	6,971	-	6,971	(6,971)
fund(note16c)
ii) Transferfromgeneralto	(3,109)	3,109
designatedfundsforCommon
Vision

		UnrestrictedFunds	UnrestrictedFunds
		General&	Tangible	Restricted	Endowment
		designated	FixedAssets	Funds	Funds
		Funds	Fund
		£'000	£'000	£'000	£'000
Typeof	transfer
i)	Purchaseandimprovementstoproperties	(10)	10
ii)	Fundstransferredtosupportstipendiary
	costs	69		(69)
iii)	Othertransfers			75	(75)
		59	10	6	(75)

			UnrestrictedFunds	UnrestrictedFunds
			General&	TangibleFixed	Restricted	Endowment
			designated	AssetsFund	Funds	Funds
			Funds
			f'000	f'000	f'000	f'000
	Typeoftransfer
	i)	Purchaseandimprovementstoproperties	(446)	446
.	i)	DisposalsofBoardproperties	838	(838)
		Othertransfers
			67		(67)
			459	(392)	(67)

TangibleFixedAssets
	Freehold	Leasehold	Vehicles&	Benefice	Glebe	Total
	Property	Property	Office	Property	Team
			Equipment		Vicarages
	£'000	£'000	£'000	£'000	£'000	£'000
Costorvaluation
At1January2022	83,868	788	1,053	231,352	34,277	351,338
Additions	16		46	3	751	816
Disposals			(14)	(1,640)	-	(1,654)
Revaluations	1,666	16		4,627	686	6,995
At31December2022	85,550	804	1,085	234,342	35,714	357,495
Depreciation
At1January2022	526		896			1,422
Chargefortheyear	106		32			138
At31December2022	632		928			1,560
NetBookValues
At31December2022	84,918	804	157	234,342	35,714	355,935
At31December2021	83,342	788	158	231,352	34,277	349,917
Inadditiontogainsnoted	above,there	wererevaluationgainsof£82Krelating			toequity
mortgageloans(note19).
	Freehold	Leasehold	Vehicles&	Benefice	Glebe	Total
	Property	Property	Office	Property	Team
			Equipment		Vicarages
	£'000	f'000	f'000	f'000	f'000	f'000
Costorvaluation
At1January2021	77,562	717	1,025	210,665	31,366	321,335
Additions	444		28	107		579
Disposals	(825)		-	(827)		(1,652)
Revaluations	6,687	71	-	21,407	2,911	31,076
At31December2021	83,868	788	1,053	231,352	34,277	351,338
Depreciation
At1January2021	425		854			1,279
Chargefortheyear	101		41			142
At31December2021	526		895			1,421
NetBookValues
At31December2021	83,342	788	158	231,352	34,277	349,917
At31December2020	77,137	717	171	210,665	31,366	320,056

	At1January	Additions	Disposals	Changein	At31
	2022		atbook	Market	December
			value	Value	2022
	f'000	£'000	£'000	£'000	£'000
UnrestrictedFunds
EquityMortgageLoans	493				493
DesignatedFunds
Administeredfunds	30			3	33
RestrictedFunds
ODBFTrusts&other	936			(123)	813
EndowmentFunds
Glebe(seenote16b)	152,543	18,330	(14,655)	(9,590)	146,628
ODBFTrusts&other	5,798			(685)	5,113
	158,341	18,330	(14,655)	(10,275)	151,741
Total	159,800	18,330	(14,655)	(10,395)	153,080
	At1January	Additions	Disposals	Changein	At31
	2021			Market	December
				Value	2021
	f'000	f'000	f'000	f'000	f'000
UnrestrictedFunds
EquityMortgageLoans	546		(53)		493
DesignatedFunds
Administeredfunds	26			4	30
RestrictedFunds
ODBFTrusts&other	819			117	936
EndowmentFunds
Glebe(seenote16b)	136,335	20,192	(19,831)	15,847	152,543
ODBFTrusts&other	5,068	1	-	729	5,798
	141,403	20,193	(19,831)	16,576	158,341
Total	142,794	20,193	(19,884)	16,697	159,800

	Agricultural	Residential	Commercial	Amenity	Listed	Total
	Land	Property	Property	&Other	Investments
				Property
	£'000	£'000	£'000	£'000	£'000	£'000
Costorvaluation
At1January2022	23,410	2,986	2,934	2,898	120,315	152,543
Additionsatcost	13		8,266		10,051	18,330
Disposalsatbook
value	(334)				(14,321)	(14,655)
Unrealised
Gains/(losses)	779	60	61	20	(10,510)	(9,590)
NetBookValue
At31December2022	23,868	3,046	11,261	2,918	105,535	146,628
CostorICV
At31December2022	3,780	1,544	11,444	1,796	81,809	100,373

	Agricultural	Residential	Commercial	Amenity	Listed	Total
	Land	Property	Property	&Other	Investments
				Property
	f'000	f'000	f'000	f'000	f'000	f'000
Costorvaluation
At1January2021	24,387	2,715	2,220	2,807	104,206	136,335
Additionsatcost		-	637	9	19,546	20,192
Disposals	(877)			(120)	(18,834)	(19,831)
Unrealised(losses)/
gains	(100)	271	77	202	15,397	15,847
NetBookValue
At31December2021	23,410	2,986	2,934	2,898	120,315	152,543
CostorICV
At31December2021	4,101	1,544	3,178	1,796	86,079	96,698

	Trustfor	Unapplied	Total
	investment	Total
		Return
	£'000	£'000	£'000
Asat1January2022:
Basevalueofthepermanentendowment	78,639		78,639
Unappliedtotalreturn		38,879	38,879
Total(asreportedintheprioryear)	78,639	38,879	117,518
Surplusonsalesofglebeland		4,480	4,480
Investmentreturns:dividendsreceived		2,471	2,471
Investmentreturn:realisedandunrealisedlosses		(10,764)	(10,764)
Investmentmanagementfees		(374)	(374)
WithdrawaltoreinvestinGlebecommercialproperty	(4,000)		(4,000)
Unappliedtotalreturnallocatedtoincomeintheyear		(7,852)	(7,852)
Addindexationofbaselevelofendowment	8,257	(8,257)	-
Netmovementsintheyear	4,257	(20,296)	(16,039)
Asat31December2022:
Basevalueofthepermanentendowment	82,896	-	82,896
Unappliedtotalreturn		18,583	18,583
Valuationasat31December2022	82,896	18,583	101,479

AnalysisofWithdrawaltoincome	£'000
Releasetogeneralfundstosupportstipends(note14)	7,852
Investmentmanagementfees	374
Withdrawaltoincome	8,226

rioryearfiguresfortheyearended31December2021
	Trustfor	Unapplied	Total
	investment	Total	endowment
		Return
	f'000	f'000	f'000
Asat1January2021:
Basevalueofthepermanentendowment	94,122		94,122
Unappliedtotalreturn		12,362	12,362
Total	94,122	12,362	106,484
Adjustmentstoopeningbalance
Glebelandnetdisposalproceedssince1Jan2018	(14,951)	14,951
AdjustmenttoCPIindexation	(5,050)	5,050
Movementsintheyear:
Investmentreturns:dividendsreceived	-	2,360	2,360
Investmentreturn:realisedandunrealisedgains	-	16,127	16,127
Investmentmanagementfees	-	(482)	(482)
Unappliedtotalreturnallocatedtoincomeintheyear	-	(6,971)	(6,971)
Addindexationofbaselevelofendowment	4,518	(4,518)
Netmovementsintheyear	(15,483)	26,517	11,034
Asat31December2021:
Basevalueofthepermanentendowment	78,639		78,639
Unappliedtotalreturn		38,879	38,879
Valuationasat31December2021	78,639	38,879	117,518

Thetotalendowmentincludescashfundsoff2,797Kinaddition	tolistedinvestmentsof£117,518K.
AnalysisofWithdrawaltoincome	£'000
Releasetogeneralfundstosupportstipends(note14)	6,971
Investmentmanagementfees	482
Withdrawaltoincome	7,453

	2022	2021
	£'000	f '000
Amountsdueaftermorethanoneyear
Loanstoparishes	72	196
PensionSchemesurplus(Note25)	-	77
Amountsduewithinoneyear
Prepayments	67	236
Accruedincome	429	384
Otherdebtors	1,052	850
Loans	289	314
Amountsduefromconnectedcharities	140	49
Total	1,977	1,833
Totaldebtors	2,049	2,106
18.Creditors:amountsfallingduewithinoneyear
	2022	2021
	£'000	£'000
Creditorsandaccruals	4,535	3,823
Taxationandsocialsecurity	89	87
Deferredincome	448	314
Totalcreditors:amountsfallingduewithinoneyear	5,072	4,224
19.Creditors:amountsfallingdueaftermorethanoneyear
	2022	2021
	£'000	£'000
Loansandothers	2,662	2,744
Totalcreditors:amountsfallingdueaftermorethanoneyear	2,662	2,744
Theaboveloansareallrepayableaftermorethanfiveyears

			2022
	Balancesat	Income	Expenditure	Transfers	Gains&	Balancesat
	1Jan2022			(note14)	Losses	31Dec2022
	£'000	£'000	£'000	£'000	£'000	£'000
UNRESTRICTEDFUNDS
General	9,005	22,657	(27,112)	4,314	(57)	8,807
DesignatedFunds
CommonVision	5,660	6	(1,450)	3,912	-	8,128
Developmentpostsandnew
communitiesfund	775		(105)			670
Propertyrepair&maintenance	550			(330)		220
Otherfunds	166	51	(51)	15		181
	7,151	57	(1,606)	3,597		9,199
TotalGeneralandDesignated
Funds	16,156	22,714	(28,718)	7,911	(57)	18,006
TangibleFixedAssetsProperty
Fund
Boardpropertiesfund	81,393		(106)	10	1,764	83,061
RESTRICTEDFUNDS
DiocesanPastoralAccount	186	4	(10)	75		255
Missiongrantsfund	28	700	(618)			110
ArchbishopsHardshipGrant		647	(647)
SillitoeBequest	1,150	27			(122)	1,055
Otherfundsbelow£250K	980	584	(405)	(69)	(1)	1,089
	2,344	1,962	(1,680)	6	(123)	2,509
ENDOWMENTFUNDS
Glebeteamvicarages	35,817		-	-	687	36,504
Glebeinvestments	149,883	2,679	(430)	(7,852)	(5,699)	138,581
Clergypensionschemedeficit	(684)				684
Diocesanstipendsfund	185,016	2,679	(430)	(7,852)	(4,328)	175,085
Parsonagehousefund	232,017		(6)	(75)	4,627	236,563
Stipendsbequestfund	2,407					2,407
Ordinationcandidatesfunds	1,758	-				1,758
Otherfunds	1,694	-			(679)	1,015
	422,892	2,679	(436)	(7,927)	(380)	416,828
Totalfunds	522,785	27,355	(30,940)		1,204	520,404

			2021	2021
	Balances	Income	Expenditure	Transfers	Gains	Balancesat
	at1Jan				and	31Dec
	2021				Losses	2021
	f'000	f'000	f'000	f'000	£'000	f'000
UNRESTRICTEDFUNDS
General	9,792	21,741	(25,570)	3,771	(729)	9,005
DesignatedFunds
CommonVision	5,264	3	(2,716)	3,109	-	5,660
Developmentpostsandnew	897	-	(122)		-	775
communitiesfund
Propertyrepairandmaintenance	-			550		550
Otherfunds	163	16	(17)		4	166
	6,324	19	(2,855)	3,659	4	7,151
TotalGeneralandDesignated
Funds	16,116	21,760	(28,425)	7,430	(725)	16,156
TangibleFixedAssetsProperty
Fund
Boardpropertiesfund	75,488	41	(552)	(392)	6,808	81,393
RESTRICTEDFUNDS
DiocesanPastoralAccount	200	2	(16)			186
Missiongrantsfund	43		(15)			28
SillitoeBequest	1,012	23	-		115	1,150
Otherfundsbelow£250K	1,006	1,132	(1,093)	(67)	2	980
	2,261	1,1.57	(1,124)	(67)	117	2,344
ENDOWMENTFUNDS
Glebeteamvicarages	32,907		(100)		3,010	35,817
Glebeinvestments	138,439	2,360	(518)	(6,971)	16,573	149,883
Clergypensionschemedeficit	(1,358)		(12)		686	(684)
Diocesanstipendsfund	169,988	2,360	(630)	(6,971)	20,269	185,016
Parsonagehousefund	210,660	34	(72)		21,395	232,017
Stipendsbequestfund	2,109				298	2,407
Ordinationcandidatesfunds	1,537				221	1,758
Otherfunds	1,484				210	1,694
	385,778	2,394	(702)	(6,971)	42,393	422,892
Totalfunds	479,643	25,352	(30,803)		48,593	522,785

			2022
	Tangible	Investments	Current	Creditors	NetAssets
	Fixed		Assets
	Assets
	£'000	£'000	£'000	£'000	£'000
UNRESTRICTEDFUNDS
General	157	493	10,078	(1,921)	8,807
Designated
CommonVision		7,014	3,094	(1,980)	8,128
Developmentposts andnew
communitiesfund			670		670
Propertyrepair&maintenance			220		220
Otherfunds		33	171	(23)	181
		7,047	4,155	(2,003)	9,199
Totalgeneralanddesignated
funds	157	7,540	14,233	(3,924)	18,006
Tangiblefixedassetsproperty
fund
Boardpropertiesfund	85,722			(2,661)	83,061
RESTRICTEDFUNDS
DiocesanPastoralAccount		-	255		255
Missiongrantsfund	-	-	295	(185)	110
SillitoeBequest		800	255		1,055
Otherfundsbelow£250Keach	-	13	1,174	(98)	1,089
		813	1,979	(283)	2,509
ENDOWMENTFUNDS
Glebeteamvicarages	35,714	300	490		36,504
Glebeinvestments	-	139,307	139	(865)	138,581
Diocesanstipendsfund	35,714	139,607	629	(865)	175,085
Parsonagehousefund	234,342		2,221		236,563
Stipendsbequestfund	-	2,407			2,407
Ordinationcandidatesfunds	-	1,758			1,758
Other	-	955	61	(1)	1,015
	270,056	144,727	2,911	(866)	416,828
TotalFunds	355,935	153,080	19,123	(7,734)	520,404

			2021
	Tangible	Investments	Current	Creditors	NetAssets
	Fixed		Assets
	Assets
	f'000	f'000	f'000	f'000	f'000
UNRESTRICTEDFUNDS
General	158	493	9,691	(1,337)	9,005
Designated
CommonVision		3,109	5,079	(2,528)	5,660
Developmentpostsandnew			775		775
communitiesfund
Propertyrepair&maintenance			550		550
Otherfunds		30	145	(9)	166
		3,139	6,549	(2,537)	7,151
Totalgeneralanddesignated funds	158	3,632	16,240	(3,874)	16,156
Tangiblefixedassetsproperty
fund
Boardpropertiesfund	84,131		6	(2,744)	81,393
RESTRICTEDFUNDS
DiocesanPastoralAccount			187		187
Missiongrantsfund		-	28	-	28
SillitoeBequest		922	228		1,150
Otherfundsbelowf250Keach		14	1,190	(225)	979
		936	1,633	(225)	2,344
ENDOWMENTFUNDS
Glebeteamvicarages	34,276	300	1,900		36,476
Glebeinvestments		149,134	874	(125)	149,883
Clergypensionschemedeficit		-	-	(684)	(684)
Diocesanstipendsfund	34,276	149,434	2,774	(809)	185,675
Parsonagehousefund	231,352		6		231,358
Stipendsbequestfund		2,368	39		2,407
Ordinationcandidatesfunds		1,758	-		1,758
Other		1,672	22		1,694
	265,628	155,232	2,841	(809)	422,892
TotalFunds	349,917	159,800	20,720	(7,652)	522,785

%ofpensionablestipends	1January2018to	1January2021to
	31December2020	31December2022
Deficitrepaircontributions	11.9%	7.1%

andover2022issetoutinthetablebelow.
	2022	2021
	£'000	£'000
Balancesheetliabilityat1January	684	1,358
Deficitcontributionpaid	(407)	(686)
Interestcost	-	2
RemainingchangetotheBalanceSheetliability*	(277)	10
Pensionadjustmenttostatementoffinancialactivities	(277)	12
Balancesheetliabilityat31December		684

	December2022	December2021
Discountrate	n/a	0.0%
Priceinflation	n/a	n/a
Increasetototalpensionablepayroll	n/a	-1.5%

	2022	2021
	%	%
Discountrate	5.00	1.82
Salaryincreases	3.00	2.50
Inflation(RPI)	3.13	3.24
Inflation(CPI)	2.91	2.99
AllowanceforpensioninpaymentincreasesofRPIor5%ifless	3.01	3.10
AllowanceforpensioninpaymentincreasesofCPIor5%ifless	2.83	2.90

	2022	2021
	f'000	f'000
FixedInterestBonds	2,236	5,190
Index-linkedgilts	4,074	6,312
Property	1,429	1,681
Other	2,245	3,034
	9,984	16,217

	2022	2021
	f'000	£'000
Fairvalueofplanassets	9,984	16,217
Presentvalueofdefinedbenefitobligations	(9,217)	(14,793)
Unrecognisedsurplus	(767)	(1,347)
Surplusrecognised(seenote17)	-	77

Reconciliationofopeningandclosingbalancesofthefairvalueofplanasse	ts:
	2022	2021
	£'000	f'000
Fairvalueofassetsat1January	16,217	16,014
Interestincome	293	223
Employercontributions	122	192
Benefitspaidandexpenses	(398)	(401)
Actuarial(loss)/gainonassets	(6,250)	189
Fairvalueofassetsat31December	9,984	16,217
Reconciliationofopeningandclosingbalancesofthedefinedbenefitobligation:
	2022	2021
	£'000	f'000
Definedbenefitobligationat1January	14,793	14,248
Currentservicecost	77	170
Interestcost	267	198
Benefitpaid	(327)	(345)
Actuarial(gain)/lossonliabilities	(5,593)	522
Definedbenefitobligationat31December	9,217	14,793
DefinedbenefitcostsrecognisedintheSOFA:
	2022	2021
	£'000	f'000
Currentservicecost	77	170
Netinterestincome	(2)	(12)
Expenses	71	56
Total	146	214
Definedbenefitincome(costs)recognisedinothercomprehensiveincome:
	2022	2021
	£'000	f'000
Returnonplanassets—(losses)/gains	(6,250)	189
Experience(losses)/gainsarisingonplanliabilities	(916)	86
Effectsofchangesindemographic&financialassumptionsunderlying
thepresentvalueoftheplanliabilities	6,509	(608)
Effectsofchangesintheamountofsurplusthatisnotrecoverable
(excludingamountsincludedinnetinterestcost)	604	(396)
Totalamountrecognisedinothercomprehensiveincome	(53)	(729)

		General&	TangibleFixed	Restricted	Endowment	Total
		Designated	Assets	Funds	Funds	Funds
		Funds	PropertyFund			2021
	Note	f '000	f'000	f'000	f'000	f'000
IncomeandEndowmentsfrom:
Donations	2	18,915		289		19,204
Charitableactivities	3	2,116		685		2,801
Investments	4	717		180	2,360	3,257
Othersources	5	12	41	3	34	90
Total		21,760	41	1,157	2,394	25,352
Expenditureon:
Raisingandmanaging
funds	6	377			518	895
Charitableactivities	7	28,048		1,124	12	29,184
Otherpropertycosts	8		552		172	724
Total		28,425	552	1,124	702	30,803
Net(expenditure)/income
beforeinvestmentgains:		(6,665)	(511)	33	1,692	(5,451)
Netgainsoninvestments		4		117	17,301	17,422
Net(expenditure)/income		(6,661)	(511)	150	18,993	11,971
TotalReturntransfer	14a	6,971			(6,971)
Netincome/(expenditure)after
TotalReturntransfer		310	(511)	150	12,022	11,971
Othertransfers	14b	459	(392)	(67)
		769	(903)	83	12,022	11,971
Otherrecognisedgains/(losses):
Gainsonre-valuationof
tangiblefixedassets	15		6,808		24,406	31,214
(Losses)/gainsondefined benefitpensionscheme	25	(729)			686	(43)
Netmovementinfunds		40	5,905	83	37,114	43,142
Totalfundsbrought		16,116	75,488	2,261	385,778	479,643
forward
Totalfundscarried	20	16,156	81,393	2,344	422,892	522,785
forward