THE CHURCH
OF ENGLAND
DIOCESE OF DURHAM
DURHAM DIOCESAN BOARD OF FINANCE
ANNUAL REPORT
YEAR ENDED 31 DECEMBER 2024
Com
Chari
an
Number". 00192018
Number. 248287

Durham Diocesan Board of Finance
IA company Ilmlt•d by guarant4•1
Contents
Page
Reference and administrative details
Trustees. rewt
3-20
Trustees. resF*)nsibilits'es ststement
21
Independent ouditovs report lo the trustees of Durham DKKesan Board of Finance
22-24
Statement of financial acbwties
25
1￿me and expendtiure ac(xMJnl
Balance sheet
27
Stslement of cash flows
28
Notes to the finanaal statements
29-62

Durham Diocesan Board of Finance
IA company limited by guarante•}
Reference and administrative details
Year ended 31 December 2024
Ex officlo Members of thè Board
The Bishop of Durham- Right Reverend PR Buuer (Chairl (until 29 February 2024)
Th6 Bishop of Jarrow- Right Reveren¢J SE Clath IChair}
The Dean of Durham- Very ReVe￿nd Dr p pfyrning
The Archdeacon of Au¢kland- Venerablè RL Simpso
The Archdeacon of Durham - venerab￿ EM Wilkinson
The Archdèae4)n of SurKledand- Venerable RG Coc4)er
The Chair of the House of Laty- Canon F Stenlake
The Chair of the House of Clergy- Canon S Clark (until 31 July 2024): Reverend P Arnold (from 16 November
20241
The Chair of the Finance Gr(w- Canon ML Vaughan (V￿ChaIr)
El￿ted M8mbers of tho Boanl
Reverend Canon K Bagnall (from 1 November 2024)
Mrs A Blackburn
Mr F Drake (until 30 April 20241
Mr S Gardiner luntil 31 O¢lober 20241
Mr J Hall
Canon Dr JH Harrison
Mr P Hobbs
Mrs R Hicks (until 31 October 2024" from 19 December 2024)
Reverend B Huish Ifrom 19 December 2024)
Reverend M Levinsohn Ifrom 19 Decemiw 20241
r SL Pickering (from 1 November 2024)
Dr AC Price {unbl 31 October 2024)
Canon FA Rogers
Mr J Wilders lunlil 31 October 20241
Reverend P Arnold lunlil 16 November 2024 when elected Chair of House of Clargy of D￿San Synod)
Reverend L Sulherfand lunb"131 October 2024)
Reverend Canon D Tolhurst lunkn"131 O¢lober 2024)
Mr N Wyrley-Birch {from 1 November 2024)

Durham Diocesan Board of Finance
IA company limited by guarantee)
Reference and administratfve delails (¢ontinued)
Year ended 31 December 2024
S8cTetsry to the Board
Canon JJG M￿gan
Diocesan Chan￿lIOr
Theworshipful Adrian Iles
56 North Bondgate
BishopAu¢kland
DL147PG
Dlocesan Registrar
Mr P Wills
Smith RC￿ldaM
56 North Bondgate
Bishop Avckland
DL14 7PG
Indo￿ndent Audittir
UNW LLP
Chartered Accountsnts
ctygale
Sl Jame5. Bovlevard
Newcastle upon Ty
NE1 4JE
Gl•be PropgrtyAg0nts
Savills
Helix
The Lumen
St James, Boulevard
Newcastle upon Tyne
NE4 5BZ
R•gisteTedOffice
Cuthbert House
Slon8bridge
Durham
DH13RY
Telephone:
Website..
Email..
01388 604515
rham.an
enquiries@durtbam.anglican.org
Company registration number
1x1192018
Regist¢r•d charlty numb¢r
248287

Durham Diocesan Board of Finance
IA company limit•d by guarante•}
Trustses, report Icontinued)
Year ended 31 December 2024
The trustees of the Dutham Diocesan Board of Finance11he 008F'I. who are the members of the company
8nd are directors for the purposes of company law, present report together wth the audited financial
statements, for the year ended 31 December 2024.
This rewt satisfies Ihe legal requirements for the Directors. Report of a charitable company,. a Strategic Report
uNJer the Companies Act 2006" and a Trustees, Annual Report under the Charities Act 2011.
Ob-•¢tives of the DDBF
The DDBF was formed to manag8 the finanual affairs and hold the legal tille to the assels of the Dio¢ese of
Durham. It was incorporated on 21 August 1923 as a charitable company limited by membership guarantees
(No. 00192018) aThJ is registered the Charity Commission (No. 2482871.
Each member of DDBF has a personal liability limited to £1 under tt)eir guaranlee as company members In the
evenl of rts beiry wound up.
The objectives of the DDBF as set out in the Memorandum and Artides of Association are to hold real and
personal propety for the purposes connected with the Church of England in the Dio(*se of Dutham. The Board
is the financial adviser and eXe￿tive of the Diocesan Synod- it is responsible for the collection. custody,
disbursement and account of the Syno(fs lullds. the empwnent of all persons in receipt of salaries paid
directly from those funds.
The DDBF has delegated resp(M)sibilty for the day-ltrday management of the company lo the Drocesan
Secrelary. The Archdeacon of Dutham and Head of Programme Delivery for Diocesan Transfomiation lead the
staff team in supports.ng the Dhocesan Bishop to dèvetop the mission of the Church of England in the Dioces8 of
Dutham.
The ￿"OCeSe of Durham aiso benefts from the services offered on a voluntary basis by a large number of
members and suprK)rters of the Church of England. These volunteers give of their b'me and eXPe￿'se in many
ways, including membership of the t*)ards arbd committees needed lo provide effethe govemance and ensure
effective operation of the Diocese.
The Board would likè lo ￿ace on record its gratitLKle aNJ Ihanks for all the supwt tt has received from both
staff and volunteers over the past year. The Board recognises the continuing challenges facing clergy, parishes
and would like lo thank all of those who have supp(vted thi* work.
Strate
ic Alms and Ob'ectives
The Diocese of Dutham has adopted a vision to be."
The Church of England from the Tyne to the Tees and the Da￿$ to the Sèa.
blessing our communiti•s in Jesus. nam• for the transfomiation of us all.
Following the Waymark conference in late 2019, the Diocese has deVe￿ped a mission strategy for 2021-2026.
approved al Dio¢esan Synod in January 2021. This focJJsse5 on fcMJr p￿rIt￿..
Ene¥gising Growth..
Engaging with child￿n, Young People and 18-25s-
Challenging Poverty- an(J
Caring for God's Creation.
To support this strategy, the Diocese devel¢)ped a Programme of Di￿San Transformation which supports
missK)nal work within our parishes in line with these pr￿n1￿$.

Durham Diocesan Board of Finance
{A company limit•d by guarnnt•e)
Trustees, report (continued)
Year ended 31 December 2024
A¢hl¢vements and rforniance
rati
al Revi
The Christian Presence
Clergy, lay leaders and churd) members tAay a central part in the life of churthes and cary out important roles
in our communities. This invofves engaging in a ￿lJe variety of communty and church prtlects. and clergy,
along wlh licensed lay ministers. cany out numerous y￿dd1r￿. bapbsms and funerals. and provhde chaplaincy
in a range of diffgrent settings.
In February 2024. the Rt Rev Paul Butber retired from his role as Bishop of Durham, and the discernment of the
next Bishop of Durham commenced. The Va(8ncy4n•See Committee, chaired by Ihe Acting Bishop of Durham.
mel to prepare the Diocesan Statement of Need, to arrange consullation wth stakehold&Ts from across the
Diocese. and to elect six d￿￿e$an members of the Crown Nominations Commission for Dutham ICNC). The
CNC met and nominated a candi¢Jale in November 2024. however in Febwary 2025 it was announced that Ihe
nominee had withdrawn from the process. Therefore, the CNC will now reconvene in 2025 to nominate a new
candidate.
Leadership in its many fom)s is essenbal. and we are delwJhted lo have had re81 Suc￿$ in developing both lay
and ordained vocations. Numbers of those in training for ordained ministy continue to remain reasonabty
strorg. By the end of the year. we had 20 Durham spons¢yed Cand￿ateS in training for ordained ministy
(2023." 23). The Diocese, havw r￿nIty been in a position to extw)rt candNJates. has now reverted back to its
historic pattem of importing carKIHJates for stipendiary ministy. though cyJr seif-supFX)￿n9 numbers remain
slror<J.
The numbers in training for reader mini8ty have grown and are rtLY+V al their highest level for many years. Al
the end of the year there were 22 ￿aderS in training {2023.' 16). Numbers of vocations to lay pastoral ministry
have fallen. with hyo in training (2023.- seven)- Those in training for authorised lay ministy of Ihe word have
grown to nine. The authorised lay ¢hildren'5 leader pathway remains popular. and we have tsvefve people in
training. Most of the authorised an(1 licensed 18y ministries (reader. pastoral minislry. chaplaincy, and ministry
of the word) are being trained through Lindisfame College of Theology. Lay chiklren's leadeTS are trained at
courses provided by the DDBF.
Dutham Dioce
n Board ofEduca
DDBE
The work of the DDBE covers a wide range of areas: re¥￿enting Ihe Diocése on a variety of committees and
statutory bthjies,. liaising with local authority and other 01￿Cers.. supporting schools by providing help and In-
service training on a ￿de range of issues induding religiotjs eduGation and school worship, supporting and
training governors, legal, land management and governar￿. The DDBE aims to facilitate the working together
of govemors, teachers. parents. church and other partners lo ensure that the quality of educalion offered to the
children in our church schools is ts best it be.
The DDBE seeks to".
promote education within the faith aThJ practice of the Clwrch of EnglarKI.,
promote religious education and (l)I￿t￿e worship in $Ch￿￿s.
promote or assist in the promotion of church s¢hrJJls and advise the govemors and trustees of thurch
educational endowments and any other b￿JY (Y person concemed on any matter affecting church
schools".
promote ¢<weralion wth L%yJies C￿ pwsons concwned in any respect Wbth educalicfft in the Diocese;
and
support parishes in all aspects of work with children and young people.
The DDBE meets temly and receives upxjales from the Director of EdLbcation. who leads the Joint Education
Team, which operates on behalf of both Dutham and Newcasue Diocesan Boards of Education. The members
of the DDBE bring a wide skill-set induding expw1ise from education. business and finance.

Durham Diocesan Board of Finance
{A Company limited by guaranto01
Trustees. report (continued)
Year ended 31 December 2024
The DDBE has wthed with all 57 church schools in the DI￿Se throughout the year. These consist of 50
primary schools. two junior schools and five secondary s¢htx)Is. one of which has a sixth form. The landscape
has continued 10 shift with more schools becomir¥J a¢ademies and joining Church of England or Mixed Multi-
Academy Trusts (MATS). There are seven Voluntary Aided Schwls and 14 Voluntsry Controlled Schools within
the DI￿ese. and 36 schods now in ac*my trusts. or those that have academrLed. one remains as Single
Academy Trust and another as a single schod wrthin an'empty MAT,.
Inspection outcomes are extremety strong across the Di(xese for h)ih Otsled and SIAMS (Slalulory Inspection
of Anglican and Methodist Schools) inspeclk)ns. At the end of 2024, 98% of Church schools were outstanding
or good IOf51ed} and 98% were excellenl or ￿ under the previous framework. 100% of the schools
inspected under the new SIAMS framewofk, whith commenced in September 2023, have attained a
Judgement 1 and a￿ living up to their fournlalw as a church $rt￿.
Professional development ¢our5es are made available both online and in person. and cover a range of
subjects and topics, including temity support for chairs of gM)vemors and ex-officio governors, and lermty
training for new foundation govemors. In addibon. the spring Conference {Eady Years Foundation Stage}. the
annual summgr conlerence (Spirituality and Well-Beingl and the autumn conference (Equity. Diversity.
Inclusion and Justscel were extremety well attended with delegates from both church and communty schools.
as well as both intemal and extemal speakers. This year. the team has fvrther supported schools and
governors with the SIAMS framework, induding explorat￿ of what spirituality means in each context and the
role of govemance within this. Thrive training. Povwty Proofing, Courageous Advocacy. Christian
Dislincliveness and subject leadership wrses have also been offer￿. Uptake is strcM)g for all aspects of
continuous professional development ICPDI many c4)UTses bèing repeated due lo demand. The team has
also accessed CPD. induding training on Menlal Health and Well-Being. Safeguarding, Equalty, Diversty and
Inclusion, and SIAMS and Ofsted updates.
The Interim Director of Educabon attend8d Bishop's L8ader5hip Team and Diocesan Synod, sharing the views
of school leaders and pupils. as well as nab.onal conferences focusing on SEND and Inclusion. In late 2024. a
permanenl D1￿ctOr of Education was successfully appointe(l. commenung in January 2025. Ctjrrent
challènges for schools reV￿ve afound dosing the achievement gap. particulaty in Eady Years where the gap
befvjeen disadvantaged pupils and non4isadvantaged has *MiJened, poverty, EDIJ, recrurtmenl and retention
of staff, and improving attendance. particularly for disadvantaged pupils. In addition. the Director of Education is
a member of the Diocese's Nel Zero Working Group which is enabling all voluntary aided schools lo move
towards being carbon neutral by 2030. Linked to this. there is ongoing work lo support governors with propety
issues and with the legal processes invofved in academisation of schods. Finalty, the D1￿ctor of Education has
represented the team at the North East Anti-Racist Coal￿"0n which was fornied after the national riots in the
summer of 2024.
The Joint EducatHJn Team supported the Vacarw-in-see Committee by ensuring that the voice of our children
and stsff within our church sch(K)Is was heard. This included a presentatM)n on the key messages shared by
pupils and staff, as well as a wsit to one of cxjr primary schools.
with Children Youn
P&0
e and 18-25s
In Summer 2024 our approach to chiklren's and yLNJlh ministy engagement was brought under the new
umbrella term of 'Growing Youngerf which encompasses all work engaging wth Os-25s. Much of our key
engagement with children and young people has ¢￿ts"￿￿ed within this new fomi, ￿ new missional initiatives
being developed alongside.
Thè Pulse youth event has continued with 130 joining together in March at Durham Cath8dral for a silent disco.
prayer stations, leaching from Cranmer Hall and a blessing from Bishop Sarah. Morè than 60 young people
were part of the pilgrimage to Hdy Island in July, alongside 16 from the chiklren's council.
14 young people completed the Growing YcHJng Leaderfs l￿r$e, wilh a celebrat￿ event in April where they
were Commissioned by Bishop Sarah. er￿u1391ng them to step further into their leadership joumey.
Training in ministry to young people fomis a signfficant part of the Initial Ministerial Education programme, and
through courses at Cranmer Hall Theolcfv3ical College and Lindisfame College of Theology. Courses leading to

Durham Diocesan Board of Finance
(A company limitod by guaranlw)
Trustees, report (continued)
Year ended 31 December 2024
the Bishop's Cer1ificate in Youth Ministy and EducatK)nal Chaplaincy have also ￿en provided. mainty to
volunteers. We have also seen the first cohort of eNJhl compkele their training to be Authorised Lay Children's
Ministers, all taking part in the annual lay mintsty se￿￿ at Dutham Cathedral in September.
The annual year 6 leaverfs servKe at Dutham Cathedral look place in June with more than 2,200 children
attending across five services. 60 y(xJng people in year 10 from church secondary schools supported the event,
which was also an encouragement for them.
Following the retirement of our k)ngstsnding Youth Athisor, and using fvnding from the National Church. the
Growing Younger leam has increased in capauty. enccmnpassing new roles focused intentionally on young
aduhs and training 18aders. alongside Mission Ena￿eT5 continue to supwrt parishes to reach and disciple
children aThJ young people. The autumn focused on rec¥uitment and indudion. with implementation of the new
Growng Younger programme beginning in eady 2025.
isin
Growth
The DirKese aims to grow in Ihree key dimensions:
in re8ch and influe￿.
in depth by strengthening di￿lpIe$h¥￿. and
in breadth and number.
In 2024, the deasion was made lo establish a nwy Growng Churches team to better a(l)ieve the goal of seeirrfJ
growlh in each of these three key areas. This has been a naluTal development from the woth of the Cultivate
team. previously focussed on the Diocesan vision of establishing 100 new worshipping communities by 2030. It
was recognised that to wden the engagement of churches. there is a naed lo -go UP•riverf and SLbPPOrt
churche5 WKth the foundational irKJredients of missK)n and disopleship. supporting churches to grow in depth
and reach in order that they may then multiply in number.
To this en¢J. a new Missional Discipleship Enabler was apw)inted lo work alongshde churches to dèvelop
culiures and processes of intentsonal disupkship. An Evangelism Enabler is also being recruited, lo work wlh
churthes in developing mis￿Onal Confiden￿ and evangelistic creab'vity. PreparatK)ns have been made lo btsgin
learning communty process wth Darfinglon deanery whith whll encompass all three aspects of the Growing
Churches pr￿esS
Maturity {Discipleshipl. Mission (Evangelism). arml Multiplication (establishing New
Worshipping ComMun￿"e$). This pik)t prO￿sS ks a series of leamiThJ communf(ies. huddles and coaching
which. over an 18-month peri(xl. supports churche5 in embedding deep cullural change.
Growing Durham Dk)cese.' Our ResouruNJ Churches are now approaching the end of the perhod through which
they are funded by thè National Church. There have been many positive outcomes in temis of congregational
growth and diversity, as well as many new minislries to young people. vulnerable adults and to more
economically deprived communities. The next phase of en9agemenl with these churches wll include robust
planting plans. as well as disceming the pla¢x of Resour￿n9 Churches in the wider church ecology of the
Diocese.
Growng Hope: Preparations have taken pla￿ to submil a reset aptAi(3tion to the National Church. embedding
the leaming from experience to date. an¢J to allocate resources lo areas of fruitfulness arKI recognising the
challenges that have affected projects whith began during CovtyJ-19 restrictions. The￿ are positsve signs from
number of projects.. in Hartlepool Ihe recruitment of a new Mission Enabler is giving fresh energy and vision lo
the projeci.. Hope4AII in Pennywell conts.nues to eXpar￿ their offer of s()cial action projects to the local
community. wilh a number starb.ng to explcKe faith". St Paul's Stockton ￿ntinUeS lo grow and is looking at
ministy and outreach OpportunTi￿.
Transforming Growlh: All five of the churches invofved in the txJa¢hing and ￿SO￿T￿ng provided through this
project have now established New Worshipping Communities,. Magdelene Communty Church in Chopwell and
Gather Church in Gainford are tK)th well established and are now In a process of refining and reworking their
mission plans to engage more widety and deeply wrth their communities.. The House of Hope al Thomley
continu8$ to grow both numerically and in deplh. with sevefal Socal leaders being Klentsfied and equipped. St

Durham Diocesan Board of Finance
{A company limited by guarantse)
Trustees, report (Continued)
Year ended 31 December 2024
ban's, Windy Nook are planning the revitalisalKJn of St Ninian's in Low Fell.. and Sl Andrew's in Haughlon-l
Skeme have launched a farnily￿ntred missional communrty that regularly attracts 50-60 attendees.
The Lay Plantets AuthOrisa￿n Pathway is ￿rrenty being developed in conjunction with Cranmer Hall. lo
provide practic81 and theolog￿al training for lay leaders identified as either being engaged with. or planning
towards, estsblishing new worshipping commurbities_ 11 is hoped that this discemmenL training and coathing
will enable us to devdop ￿Y planters with missional Conffiden￿.
Challe
Pove
With financial support from Lord Crewes Charity. the Diocese has worked with Communities Together Durham
ICTDI lo help churches challenge wverty. The CTD team saw signfftanl change during 2024. There are
three areas of focus within the pri¢Nity:
Working together lo ad¢Jress chitd and youth povety
CTD supported 14 holiday dubs with activities. based around fwd provision. In all, 339 drfferenl individuals
partKipated in these clubs, wth 86 volunteers serwng across the dubs. A celebration event in September
shared gorxl practKe and stcKies from drfferent dubs in preparation for wder engagement in 2025.
Twelve church schools completed audts from Chikdren North Easfs 'Pov8ty Proofing Schools. programme.
One leacher observed." We have stopped asking children questKJns related lo Whe￿ they have been after a
hdiday. We are not visiting shops when oul on a school trip so that Children do not need lo bring money into
school. We a￿ also actwely encouraging pa￿nts to use our unifomi bank." The next steps include sharing the
impact of the programme wrth other Sch￿￿$ and considering how the model myhl be exlended to church
activities.
Responding lo isdation. particularty among the elderty
Churches across the Diocese have continued to engage with wami spaces and places of welcome. Christ
Church, Felling has operated as a place of welcome for over five years and in 2024 they launched a pilot
pmje¢t for a council scheme for adv￿ social ￿re. They are a trusted organisation in thè Community and are
seen as a safe pla￿ for peoplè to go for supp(xt. New pla￿$ of wel(y)me a￿ planned for 2025. Churches
operated a number of other sthemes for ervJaging with isolation in their communty. The parish nursing
scheme in the Durham Dales is now established. and the nurse had sustained (xjntsct with more than 30
individuals over the year.
Two parishes used the Know Your Church Know Your NeightrM)urhood tool from Ihe Church Urban Fund to
consider how best to serve the need5 of their community. In add￿0￿, CTD faalttsted a networking and training
day for chur¢h based communrty workers in November 2024. The event induded an extemal speaker and
opportunities for focuse(I conVersat￿n. A5 a result of the feedba￿. ￿l¢e yeady meetings are planned going
forward.
Reaching out arKI responding to the needs and gTfts of asylum seekers and refugees
Churches in all seven bcal authorities CoVe￿d by the Diocese have been involved in supporting refugees and
as￿urn seekers located in their area. We wntinue to work to build links between these dtfferent drop ins
alongside other agencies. CTD continues to work ck)sety with Dutham County Council lo welcome aNI
coordinate support for refugees and asyfum seekers arriving in the authority.
In 2024 we conlinued lo raise awareness of the situab.on refugees and asylum sèekers find themselves In.
Presentations were made to a number of Syn(xls. Chapters and other groups and three further film showings of
'The Old Oak, engaged 130 people in refle¢b"ve discussions. Partiapants considered the issues faced by
asylum seekers and lefugees in practical and thcNJghlful ways.
Cann for God s c￿811"0n
11 has now been four years since the adopt￿n of Caring for God's CreatK)n as a dio¢esan prK)rity. In addition lo
a Diocesan Environmental Officer {DEOI. we also have a creati(￿ Care Officer ICCOI working on this priority
alongside a parish role.

Durham Diocesan Board of Finance
(A company Ilmlt•d by guaranleo)
Trustees. report (continued)
Year ended 31 December 2024
In January 2024. we were awarded the A Rocha Bronz8 Eco Diocese award. This re¢ognises the efforts of
churches in our Diocese to be part of the Eco Church scheme, whilst also taking into consideration the
Diocesan commitment lo Creation Care aNJ efforts being made towards nel zero carbon. There has been a
significant uptake in churthes engaging ¥wth the Eco Church stheme. We now have 102 churches registered.
induding 42 bronze awards. seven sifver ar￿ Iwo gold. St Stephen's. Willington r￿ntty becama our sacond
Gold Eco Church.
The Creation Care 0￿￿er has been wtN*iThJ with churches on their Eco Church joumeys and is encouraging
new churches to sbjn up to the scheme. The CCO has also been produciry resour￿ for the Diocese and is
beginning to set up a bfoader Enwronmental Champions netsyork. Both the CCO and DEO have attended
several deanery synods and ¢hapler meetiThJs this year to promote the take-up of ECL) Church. outline the net
zero ¢art>on plans and encour*Je p)silwe environmental aclion in parish85.
The general synod target of Net Zero 2030 remains bigh on the agenda. The DEO continues lo co-ordinate the
Net Zero Working Group of representatives from across the Diocese. The group mel quarterly and is proving lo
be a useful platforni for enslhring that the ¢JK)¢esan net zero action plan is being adhered to. as well as being
forum to discuss updates from the national net zero team. An urxlate on net zero progress i￿luding an updated
carbon footprint for 2023, was presented to diocesan syncrfj in November 2024. This showed a reduction lo our
carbon footprint by 12% be￿een 2022 to 2023.
The DEO and the Buildings for MissK)n Seuetary have w(xked th the churches wth the highest carbon
emissions in the Diocese lo produce net zero action plans. Carfoon footprint data is obtsined through the online
parish relums using the Energy FootKKI'nt Tool IEFTI. Thts year. we had 93•A of churches respond to the EFT,
which is a greal improvement from 62% in 2023. Webinars and workshops were held with churches within the
top 200A of carbon emissions to help their representativ&s conshler how to lower their carbon footprint. Both
Offi￿rS continue to visit churches on request and advise them on low carbon heating options.
Safe uardin
The parish dashboard system has now operated for three years and at the erTrd of 2024, 94% of parishes wer8
using the dashboard. The Diocese were earfy a¢Joplers of the safeguarding hub, a lool lo support parishes
the requirements of Safer RecnJrtment and People Management. 25 .10 of parishes are now using this tool.
The Nats"onal Safeguarding Stsrbdards were launched by the Acting Diocesan Bishop in July, and wortshops
were held during October and November across the DKKese. These workshops dernonstrated how the
stsndards woul¢J be reflected on the dashboard and enabled an action plan to be formulated encouraging
parishes lo focus on one or tsvo stsndards at on￿. The safeguarding team is now able to analyse data from
the parish dashboard and provhde tsrgeted supFN)rt to parishes that mtghl be experiencing dIff￿Ulty with
com￿lanc￿ in certain areas.
Safeguarding Training continues to be deltvered using a hY￿Id apwo*th of face to f8ce and online training.
The trainin9 team offer training. espeaalty in relation lo Basic Awareness aTMI Foundations. in parishes on
request.
In May 2024. in partnership th Durham Cathedral. the Di(￿Se adopted the National Safeguarding Case
Management System. Al casework is rewrded electronically on thi5 systsm allowing more advanced
reporting and analysis of the types and causes of concems and inGidents.
Progress has been made towards moving from a Diocesan Saleguarding Athsor (DSA) to 8 Diocesan
Safeguarding Officer IDSO) in accordance with the re¢ommendatson from the Independent Inquiry in Child
Sexual Abuse and this took effect in earty 2025. The DSO'S casework will now be professh)nally supeNised by
the recendy appointed North East Regional Safeguarding Leal. who is a member of the National Safeguarding
Team, having previ(yJsty been professionally supervised by an independent third paty.
The Safeguarding Management Group have mel monthty to ensure the CO￿rdInatiOn of our safeguarding work
while the Diocesan Safeguarding Adwsory Panel met quarterfy to monitor prog￿$$. In preparation for the
INEQE safeguarding audii in May 2025. an audit ta5kforce was formed which has mel monthly.

Durham Diocesan Board of Finance
{A Gompany limited by guaranlo01
Trustees, report (continued)
Year ended 31 December 2024
Casework throughout the year was managed by the DSA. in collaboration wtth colleagues throughout the
Dio¢ese and in line with good practice guidance. as we continued to do all within our pow8r to make our
churches safe for all.
DD8F staff and collaborattve worki
In the interests of delivering the best supr¥)rt sety￿e$ poSs￿le for wr DI￿se. we have continued to develop
opportunities lo work in collaboration with other Church of England bod￿S. These include the well-e5tablished
Joint Education Team, aspects of ministerial Iraining and retreat house. The joint diocesan communications
team has now developed a regional voti to promote the Vol￿ of Ihe Church of England aligned geographically
lo regional media Organisatic￿$.
The number of staff employed by the DDBF was 47 (2023.. 44J posts. This includes fy¥o (2023.. thr8eJ Chaplains
who are employed by the DDBF on behaw of the organisalions in which they serve. This a150 includes 18
(2023." 18) posts whith are grant funded. and mosl of which are fixed tem) with renewal subject to further
funding being 8vai18ble. This approach enables the DDBF to luffil a wider range of provision than would be
possible through its core staff. whilst allowing unrestricted fur)ds to be fcoJSS￿ on ministry. Improvements
have been made to several diocesan c(Ke systems prc¢esses in order to maximise effiuency ar￿ keep
costs to a minimum.
Following nottfi¢ation from the Church of Enyand Pension Board of their intention to th8 Church Workers
Defined Benefrt Pension Scheme to future ￿CTual from 30 April 2024. consuttalion wtth seven 8ffe¢te¢J
members of staff was undertaken. and these members were Iransfeffed to the Church Workers Pension Builder
Classic Scheme as of 31 January 2024.
The Equality, Diversity & Indusion EnabEer coordinates a team of advise￿ and advrtales lo help drive the
Diocese lo￿ard in key areas induding:
Disabilty ministry Icurrenty in vacan¢y}:
UKME:
Gypsy, Roma and Traveller Ministy:
Women's advocacy:
LGBT+ advocacy (cuffenty n Yacancyl".
D&af ministy {currenty in vacancy).
In late 2024 the Di(xese submitted an 8pplicab.on for fundir7g lo the Ra¢ial Justice Unit for a Racial Justice
Officer, which was awarded in early 2025. and whth will support further work in addressing the areas identified
in the 'From Lament to Action. rep￿t.
Buildin
for MiSs￿n
nd
san Advi
mitee
DAC
The Diocese currently has 257 church buildings open for wwship and of these 247 are under faculty
jurisdiction. The Dio¢&se is ¢urrendy responsible for seven dose(I churches of which onè closed during 2024.
Four closed churches were sold during 2024.
The DAC mel 10 times during 2024 and disujssed a total of 149 proposals from 100 churches. Following
discussion of the proposals by the DAC a total of 90 (2023.. 81) facuhies were issued for work to church
buildings and churchyards. This induded 10 interim faculi*s that were issued for urgent work including roof
repairs and failed heating systems. The knhdeacons aLw issued a total of 115 (2023.. 96) written notices for
WO￿ that can be camed out vthhout a faculty.
During the year we have been successful in receiving granl awards from the Archbishops. Council tolalling
£367,000 to support chur¢h buildings within the D￿Se. This Comprises £187,000 from the Minor Repairs

Durham Diocesan Board of Finance
(A company limit¢d by guarantwl
Trustees, report (continued)
Year ended 31 December 2024
Grant which wll provide additional support for churches for repairs and Mainlenar￿ to their buildings and
£59.1)00 from the Quid( Wins Grant whith helps chur(4ws makè chan9èS to help redu￿ their carbon oulpul.
This hjnding is allocated for dislribution during 2024-25 and as at the balance sheet date, approximately 60%
has been allocated. The remaining £120.0￿ furKls a Church Building supp￿ Ofver for a period of three
years. This officer was appointed in Febru￿ 2024 and has w0￿ed 12 PCCS to support maintenance and
improvement wod( to Iheir buildings.
Looknn
ahead
In February 2024. we r￿ly￿j Confimiats￿ of the sewid phase of a funding award from thè Nat￿nal Church
in support of our Diocesan TransfomiatWb programme. Coupled with the first phase award from 2023, this
provides up to £11m lo support the Transftmb"on pr(NJr8mme up to 2028 at which point it is anlicipaled that
progress will be evaluated. and a subsequent fvnding applI￿110n will be submitted. This prc¥Jramme has
fom)ed a key part of the basis of the Diocese's Slalement of Need wh￿h is used by the CNC in the
discemment of thè next Bishop of Durham who will be entrusted wth lea¢Jing the Transfomiation programme.
However. anatysis prepared for the Statement of Need #lentified that the historic underfwng trend of d￿line in
the number of worshippers conb.nued during the year.
During 2024. preparatKTrns have been Unde￿aY for th8 delNery of the Tfansfomiation Programme. This has
required a significant amount of recruitment to develop the (3paoty of the Mission Discipleship and Ministry
Team so that they can support the Transformation programme in a m(Ye integrated and intenlional way. 11 has
also iequir&d some pilol work to ensure thal each of the inlervenb.ons is well understO(xJ and that appropriate
support can be provided lo en$￿￿ that these work well. This means that the team is now more Ou￿ard facing
in working with our parishes and projects. and is arranged in teams. each ¥Mth a strategic lead, working in the
following areas-.
Growing Mission:
Growing Le8d8rship:
Gr￿Ing Churches., and
Growing Younger.
The DDBF'S missional programme governance has also been aligned with the Diocesan prborities and
TrdnsfoTmalK)n prL¥Jramme, whilst ensuring thal JI our funded programmes are govemed and hel¢J
accountable in an appropriate way.
It is anticipated that Ihe final elements of this preparab.on will be completed in th8 first part of 2025 and wll
allow us to implemenl and supwt the changes ouuined in the Transfomi*ion prcgramme. These are:
Missional Discipleship. Transforming Prayer.
Church Planting and Revitalisation:
Piloting Missional Hubs.,
O&v8loping mission￿ y￿th Chaplaincy..
R&sour(*s for Local ChaThJe.' and
Support for Cumure Change.
We have begun to see Yrurt. in some of (xjr new worshipping communiiies. Some are already be¢oming
significant contributors within their deaneries and we will continue to implement new aspects of the work
facilitated by the Transforniation Planning Group. which reports to our Bishop's Leadership Team. This work
will develop over the next five years and includes aMbit￿nS to:
ant or revilalw 1¢)0 thurches:
10

Durham Diocesan Board of Finance
(A company limitod by guaranteo)
Trustees, report (continued)
Year ended 31 December 2024
establish and resource church-based Miss￿nal chaplaiw teams lo work with the colle9es of further
education {connecting us to up lo 130.¢XKI bxal young adults) antl with our Church of Eng18nd
secondary schc(Jls'.
support clergy to focus rn0￿ fully on mission and disciplesh￿.
align appoinknents and defgynay ￿ader training more expli¢iYy to the Diocesan visK)n; and
support new ￿lIatMYatiye initiatives in ￿aCeS where devdoping mtssion in isolation would not
otherwise be possible.
Financial revl
Financial conditsons remained ¢hallengiThJ for parishes and the DDBF with parish share continuing to fall in real
tems. Despite many parishes using reserves to lurKI parish share, the cash value of the DDBF'S parish share
receipts remained consistent at £4.2m (2023.. £4.3rn), being 95% (2023.- 96Yo) of the amount originally pled9ed
by parishes. This is £2.7m below Ihe amwnt required to meel the full cost of diocwn ministry induding
housing and pension costs during the year.
The DDBF agreed a b￿Jgeted operatiThJ deficil of £0.6m for 2024. of which £0.6m was to be drawn from
restricted reserves arKI whith irbciuded £1.8m from the Stipends Capital Fund under the Total Return
accounlirrfJ policy.
The net movement in funds was a surplus of £912k (2023.. £2.7m). which included a £1.1 m unrealised gain on
investments (2023.- £3.3m gain). and a gain of £0.5m (2023.. £0.3m) on disposal of property. Excluding these
adjustments which are outside of the DDBF'S operational budget, there was an undeTtwng operatsng deficit of
£0.7m (2023.. £0.gm), which aftei the transfer of funding for the Tolal Retum on Investment from the Stipends
Capital Fund of £1.8m12023= £0.8m) results in a surplus of £1.Jm (2023.- deficit of £0. Im).
Grant fvnding of £1.2m (2023.. £0.2m) was received durirwj the year and is yet lo be disbursed. This is mainly a
consequence of the receipt of funding in advance from the National Church.
Income lexduding income received on the sale of propety) was £12.4m12023.. £12. 1ml, including..
Contn"buhons from parishes
"Parish Share"
of £4.2m (2023.- £4.3m), £0.3m less than
budget. The DKKese is gralefijl lo parishes for their contributions to parish share during a
challenging year.,
£2.Om (2023.. £2.Im) of Lower Income CommunitTres Funding, £1.3ffl (2023." £1.9m) of
Strategic Developrnent Funding grants. £0.4m of Strategic Ministry Funding to support the cost
of training curates and first incumbents (2023 £0.4m) arhj other grants from the Archbishops,
Council-
£0.6m (2023.. £0.5mJ of Property Income"
£0.3m (2023.. £0.3m) from Lord Crewe's Charity lo fund poverty alleviation. cwnselling and
other Proj￿Is.
Contributions were also gratefully received from donors induding Benefacl Trust, Hikl Bede
Trust. Marshalls Charity and Mercers Trusl.
The largest area of expendilure was on supwrbng parish mintstry. comprising the stipends. pension
and housing costs of clergy=
Stipend and salary related costs were £7.2m (2023.. £7.1kn).
Costs of providing dorgy housing were £2.1m (2023." £1.9m).

Durham Diocesan Board of Finance
IA company limttod by guarante•)
Trustees. report (Continued)
Year ended 31 December 2024
Nel assets al the balance sw date were £75.6m (2023.. £74.7mJ. The DDBF'S investments are held
across several fvnds managed by CCLA The DDBF administers several restricted and endowment
funds which tcxJether compiise 92% {2023.. 92%) of the assets.
Investment rfonnance
The total value of investments {excluding short-term cash deposits) at the balance sheet date was £37.Om
(2023.. £36.8m). During the year. the nèt movement in value was a gain ol £0.2m (2023." gain of £2.6mJ.
The glebe land held ty the DDBF has been revalued up￿anJ$ by £0.3m (2023.. £0.4m) to refle￿ th8 market
value at the balance sheet date.
The Board is cu5tLMJian trustse for tru* investrnent assets wth a rnarket value of £13.6m (2023.. £13.6m).
Detailed cettificates of holdings are provKled to parishe5 and other managing trust8es of the respective
charities annualty. The Board also acts as cuslcMJian trustee for certain Parochial Church Council IPCC}
propety. Each PCC is an independent tharity arKJ these assets are not recognised on the balance sheet of the
DDBF.
Granl-makn'n
benefiaa
Grants are made to Ihe N8t¥)nal Church in accordance wrth an agr88d fom)ula. to cov8r a proportion of its
central Costs and the cost of training for ministy. The totsl paid to the National Church was £0.5m (2023."
£0.5mJ.
Grants are pahl to PCCS and to other tharilable woi8cts wh￿h appeal to th& Board to support the lurtherance
of DDBPS objectives. These are set out in note 17. During the year, a [t￿ranting policy was approved to
ensure consislerw in practKe across drfferent grant fuThJing streams.
Investment
iues
The Memorandum and Articles of A8so¢iation of the charity permrt WKle powers of investment. DDBF'S
investment policies are based on key poI￿les..
Elhical investment
This includes ensuring that wivestmenls a￿ held in companre5 which have high standards of corwr8te
govemance and act in a resp(￿SIble way towards stake￿klers.
Long4erm responsibilibes
The directors a￿ aware of their loThJ-leTm resp￿sibilitieS In respect of endowed ftjnds and as a result
follow a prLJderht approach to investmertrt dectsions.
These polioes are currently ac*￿ved ty holding all fijnds with CCLA Investments Lirnited in London. which
invesls in line with the Church of England's Ethical Investrnent Advisory Group's investmenl policies and in
accordance wlh the mot￿n passed by syTh)d regarding dNestinent from fossil luels.
Investment policy for long-lerm funds is aimed primarily al generating a sustainable income wtth due regard lo
the need for the preservation of capital value and the possible need to realise investments lo meet operalKJnal
needs. The glebe investments are held for the purpose of raising income lo achieve the maximum contribution
possible lo clergy stipends on an on-going basis. Unrestricted and restn.cted trjnd investrnents are invested lo
balance income, liquidty, and the maintenance of capital.
Funds which may be needed for wor*ing capital in the short term are held as deposits wth CCLA Investments
arKI wtth deposit taking banks through an account managed through the Flagstone cash management plarfomi.
12

Durham Diocesan Board of Finance
{A ￿mpanY limit•d by guarantee)
Trustees, report (continued)
Year ended 31 December 2024
Total retums
The Stipends Capital Fund is managed according to a pcAicy of Totsl Retum. This approach allows the DDBF
flexibility regarding the allocab.on of retum on investrnents from this fijrnl befvleen capital growth and income.
Synod agreed that. for 2024. income taken woukj be 5% of the average value of the fund over the p8sI three
years with the remainder treated as capital growih. Thk8 polry. in conjunction with the investment manage¢s
grovAh largel of CPl+5¢/o. aims to ensure intergenerational equty. At the time of the resolubon adopting th&
Total Retum approach, the trust for investrnenl was detemined ai £10.4m based on the 1996 book value of
endowed assets, adjusted for inllation and new capital received Sin￿ that date to 31 December 2023. resulting
in an unapplied total retum of £24.8m upon adoption of the policy on 1 January 2024.
Income from the endowment's investrnents has been alo¢8t8d to the endowment fund. An allo(ation of £0.9m
(2023.. £0.8mJ has been made to the trust for investment lo ensure that the capital value of the Trust for
investment is maintained over lime. The tnJslees have made an allocation of £1.8m from the unapplied total
relum towards the unrestricted running costs of the Diocese. Thi5 amount is shown as a transfer between funds
wrthin Ihe ststement of financial a¢tiVit￿. This cost has been allocated to the costs of sbpendiary ministry to
satisfy the restriction upon the Stipend Capital Fund.
other realis8d and un￿alISed gains arKI losses cffl the dispos￿ ar￿ revaluation of investments and propety
amounted 10 8 gain of £0.9m (2023.. £2.44m) whKh has been credited to the unapplied totsl ￿turn carried
forward as at 31 0￿mber 2024.
Reserves
The DDBF has agreed in 2024 a reserves policy to maintsin available free reseryes within a range of two to six
months, average unrestricted expenditure in the fonn of unrestricted (irKluding designated) nel cuffent assets
plus fixed asset investments to the extent that these can be exchanged for cash al less than one month's
notice. The Board estimated that for 2024 this would equate to a range be￿een £1.7m and £5.1 m. Al the
balance sheet dale. the DDBF'S unreslricled {induding designated} available free reserves were £4.0 (2023..
£3.9m).
Futur
ros
The Iruslees and diocesan sync#J have approved a b￿t for 2025. which after allowing for further planned
investment from resthcted reseryes, leaves a net operating deficit of £0.5m. This is after applying a transfer of
£1.1 m under the total Tetum 8¢¢0unting policy from Ihe Stipends Capilal Fur¥J. representing 4°h of the closing
value of the fund. averaged over the previous thw years.
Parish sharg pledges for 2025 of £4.3m (2024.. £4.4m) have been received, despite CPIH {Consumer Prices
Index includin9 owner oc¢upiers' housing costs) inllab.on of 3.5% to December 2024. This in¢￿aseS financial
pressures and has required a recognilion that not all posts identsfied in deanery plans can be filled whilst
mainiaining a balanced bu¢Jget However. posls conb.nue to be a¢Jvertised not%wthstsnding challenges in
recwiting.
Against this thallenging financial background. Ihe DDBF continues to deliver and develop the mission and
ministy of the Church, and during 2025 will continue lo fund ministry at parish level across the Ditxese. The
lack of recovery in parish firhances plus the inability of pledge income lo kèep pace with infialion means that
prospects of a medium to long temi recovery to pre£ovKJ ￿velS continues to remain uncertain and further
iterations of deanery plans may be required.
The Diocese continues to try to address the dedi￿ in Ihe valLbe of parish irKome and the consequent effe
upon share, supporting parishes in vacancy through the vacancy audrt process, and offering support with
stewardship through the generous giving team. Communication ￿th parishes is ongoing. to ascertain the likely
fvlure levels of parish reserves arKI parish share.
13

Durham Diocesan Board of Finance
(A company Ilmit•d by guarants•)
Trustees, report (continued)
Year ended 31 December 2024
The* Diocese will wnlrnue to benefft from the National Church's Strategic Development Fund through tho
Growng Durham Diocese and Growtng Hope projects. Following its award in 2022. the initial stages of the
Transfomiing Growth Project comprising a Resource Church in Darlinglon and the Cultivate Church Planting
programme are now underway. The DDBF was successful in its application to the new strateg￿ Mission and
Ministry Investment Board for funding for ihe first Iwo phases of its 'Called to Fruitfulness, Transfomalion
programme during 2023 and 2024, and delwery of the Transft)rmation programme wll continue during 2025.
The DDBF intends to increase support for dergy and lay leaders developing their ministry and discipkship and
lo encourage and nurture those exploriry a VtxaI￿n for public minislry in the Church of England with new
training pathways under development in conjunction with our tocal Theological Educational Inslituliorts. Further
euracies and posts of first responsibility are antr￿pated for through the Strategic Ministry Fund and Post5 of
First Responsibility Fund operated by the nalional church.
During 2025 the DDBF wll continue lo womote the mission an(1 ministy of the church within the Diocese. The
funding streams descriw continue to support this wofk and provide an increasing proportion of staff support.
Concems remain over the level of Sha￿ and around the sustainabiltty of the current deanery plans an¢J core
se￿1￿.
Goi
Thg Irustees have considwed the avail*ility of reserves arKI cash upon the going concem basis of proparath)n
of these financial statements. Although W￿rtaInty remains. patticularly over the recovery in parish income and
the ￿al-term$ reducbon in the value of parish share. it is anlicipaled that reseryes wll remain within the level
set out in the reserves policy.
Having reviewed frmecasts for the f(M1hcomirrfJ Iwefv& months that are suty'ect lo a range of reasonably possible
downside scenarios, the trustees are cx1mf0rta￿e that with the current ￿velS of ￿$h 8nd short-lemi depostts
are sufficient to allow the DDBF lo continue to operate as a g(Mng cor￿eM for the foreseeable futuie.
though there are several thallenges ahead as ouuined atK>ve the Diocese is confident that these can be
managed and is enthusiastic aboLrt thè changes that wll tske place over the next few years facililaled by the
transfomation process 8KJed by funding frorn the National Church.
Risk mana
ement
The trustees Gonfirm that the major risks to which DDBF is eX￿)sed have been rewewed and that miligaling
actions have been put in pla￿ lo manage tsK￿ risks.
The Board maintains a risk register whth is reviewed ￿￿larlY by the Audit and Rtsk Committee. and this
register has been UFMJaled during the year. wrth input frorn all DDBF fvn¢t1c￿s.
During 2024 the mast significant risks related to the operations of the DDBF were:
Church attendance and kJn*term financial sustainabdty" and
Safeguarding.
Church atlendance andlon
-tem1 financial sustainatsl"
These two risks are intrinsically linked and relate to the ability of Paro¢hial Church Councils to maintain their
own operations. In the face of national trends around dedining congregation numbers this is a Signif￿nt risk to
the DDBF. It is increasingty drffjcult for parishes to maintain share pledges and payments lo the Diocese. which
a￿ finan￿d through g￿ing and fund-raising by church members, when PCCS are also facang increases in
14

Durham Diocesan Board of Finance
(A company limitod by guarantee)
Trustees. report lcontinued)
Year ended 31 December 2024
Alongside inllalion, this has exacerbated the extent lo which the level of conth"bulion from parishes 15
insufficient lo maintsin the current cost base of the DDBF. The parish share system introduced during 2020
was reviewed during 2023. with some thanges being inlroduced in lime for 2024. This system continues to
provide a 'GuKled Pledge. to each parish. to give an ind￿alK>n of the level of pledge which would be required lo
ensure the DDBF wikl break even.
This system was designed to mÉtigate the dedine in parish share that has been seen in real terrns over the
preceding decade. Parish share pledges have dedined slighty from £4.5m in 2021 to £4.4m in 2024. however
this is over £0.5m lower than prwandemi¢ levels. and does rbot keep pace vthh rising kveLs of inllation.
Certain exlemal fadors affect the Board's abilty to meet its finaTh￿al obligations, in particular the level of
inflation, which leads to increases in stiperKIs, $8L3ries arKI building maintenance costs-,
Despite some stipendiary and stsff posts remainiTrJ vacant. there was a cA>ntinuing operational deficit although
finanual restraint and challenges in rewitment for some posts led to this being within the bUdget￿j d&ficit.
Recruitment has taken place, following apPI￿a￿"0n of a vacarw audit Pr￿$S in the case of each parish
vacancy. However. the trustees are aware that lengthy vacancies can place strain ¢)n dergy and stsff, and
efforts are being made to increase the rate of ￿¢ruItMent. The drfficulty of recnJÉtment is not limited to our
Diocese", it is a challenge faced across muth of the county. We are tsking steps to support the welfare of our
clergy who are hamng to operate in these di￿lt circumstances by providing advi￿ and counselling as and
when necessary.
S8fe
rdin
It is of key importance to the DDBF to ensufe appropriate mitigalw)n of safeguarding risks arising from potential
abusers largeling church seth.ngs wrthin the Diocese. There is a risk that slrain on parish andlor diocesan
rtrsources may lèad to vulnerability. and w)tenbal non-compliance wlh Housè of Bishop's Safeguarding Policy.
Appointment processes are documented to ensure Compliance with Ihe requirements of Safer Recruitment and
People Management.
The Board continued to be aware of the potential fc￿ safeguarding matters to be raised due to increased
reporting and awareness of safeguarding issues (both cuffent and historicall. The DTrocesan Safeguarding
Advisory Panel meets regularty to ensure that the DDBF maintsins appropriate controls to prevent, as well as
idenb.fy and resofve, any issues that arise, and the Board welcomes the safeguarding audrt from INEQE as part
of the natsonal programme of safeguarding audits. in May 2025 which will provide an independent review of the
DDBF'S safeguarding processes and practs.￿.
Other nsks
The schrK)Is agenda, managed thrLwh the DDBE. also poses potential risk lo the DD8F, both in temis of the
challenges of maintaining high standards of educatK)n in Church of England s¢hoois during a period of
significant change across the schcds The DDBE effectivety manages sch￿1 stsndards through the
Joint Education Team.
All of Ihese factor5 are included in the Board's Risk Register.
Structure
overnance and mana
ment
The Diocese of Durham is one of th8 41 Engli%h DIC￿eseS that. along wrth the Diocese in Europe. make up the
Church of England.
The Church of England is episcopally led Ilhere are 108 bishops) and synodically govemed. The General
Syncmj consists of three houses, one of whith comprises ¢JK)cesan bishops and elected representatives from
suffragan and area bishops, and fv40 of whKh are elected from the laity and clergy of each Diocese. It meets in
London OT York at least annually to consider legislation for the good of the ChuTCh.
15

Durham Diocesan Board of Finance
IA company limitad by guarant80}
Trustees, report (continued)
Year ended 31 December 2024
Further detsils on the structure and govemance of Ihe Churth of England can be found ￿ ils website..
Sw￿.Church
en
tand.
The financial transactions of the nath)nal churth do not form part of these financial
slatements.
The Diocese ol Dutham stretches from the Tyne to the Tees and the Dales to the Sea o)vering an area of
2,530 square kilometres. There 8re 253 Anglican churches across 205 parishes and these are giouped into 13
deaneries and three archdeac￿rieS. The missK)n of the Church of EThJland is mainty carried out at parish level
and the DDBF provKles pastoral and financ4al support lo the parishes. Each parish is govemed by a Parochial
Church Council {PCC}. which is 8 corporate chartty. Therefore, except where indicated otherwise, the
transactions of PCCS do r￿1 f(m) part of these finanLxal staten￿)ts.
Durham Cathedral is the mother church of the Di)cese of Dutham 8fKI legalty is constituted as a separate
registered charity with its own govemance strndures. Its finanaal transac￿n$ do not fomi part of these
financial statements.
Govemance
The Diocese elects a Dtocesan Synod. with representation from each deanery in aCCordar￿e with the church
representation rules and is govemed by the Diocesan Bishop in synod. The Diocesan Synod n(￿laIrY meets
ice a year. Many of the DicKesan Syncrfs reSp￿sIbl1rtieS have been delegated to the Bishop's Council,
which acts as the Di0￿san Synod's Stsnding Committee. The day to day running of operations is delegated lo
the staff t63m lead by the dio¢esan secretary and other key management personnel as set out in note 17. AJI
key management personnel repjrt to thè Diocesan Bishw.
ommittee s
The Diocese is govemed by the Bi8h¢Jp's Coun(il, which co-ordinates the Irf8 and work of the Diocese in
support of the mission of the Church, in aCC(*dan￿ wth the P¥KJrities set by the Bishop and the Diocesan
Synod.
In the D￿ese of Durham. the membership of the Bishop's Council is cotsm)inous with that of the DDBF and
also the Di¢xesan Mission and Pastoral Committee.
The Oiocesan MissK)n and PastLYal Committee Is re$r￿sIble for the task of apwoving pastoral reorganisation
in the Diocese. taking account of available derJ¢ y numbers and makiThJ use of new pattems of ministy.
This arran9emenl means that the trustees of the DDBF have responsibility and oversight of all aspects of
di￿£san life and are therefore able to c￿Ordinate strategic. financial and operalional decisions.
The Bishop's Council ts supwted by committees thai can infiuence the operations of the Board.
Finan￿ Grou
The DDBF de￿ateS certain dub.es and resp¢￿$1b1l￿eS to ts Finance Group including..
Assisting the Board lo deal wth financial strategy and management:
Authorising legal propety or inveslmenl strategy conducted on behaw of the Board:
Conducting urgent business of the Boar¢J between Boafd meetings..
Overseeing the P￿para*"On ol the annual DDBF bl￿et and financial stslemenls for submission to the
Board..
Recoiviry regular management accounting infcxmation:
Acting as the DDBF'S HR Commitlee. overseang the tem￿ and conditions of the DDBF emFAoyees.
Audit and Risk Committge
16

Durham Diocesan Board of Finance
{A company limit￿ by guarant¢o)
Trustees, report (continued)
Year ended 31 December 2024
The DDBF Audit and Risk Committee maintains an oversight of the Diocese's 9ovemance and risk
management including:
o Adopting a risk-based approach and undertakiThJ a planned pr￿ramme of wort examining areas of
diocesan activity,.
Ovefseeing the extemal audil of the DDBPS trustees. reprmt and financial ststements..
Considering intemal control and slewardship of the DDBFS resources,. and
o Reporting its findings annualty lo the Bishop's Council as a critical element of the Bishop's Council's
annual rewtrng requirements.
Investment Committee
DDBF has reSpOn￿bIlity lor the management of glebe propety and investments wh￿h generate income to
support the (x)st of stspends. It 15 also the diocesan autlK>rity for parochial and other trusts aNJ incorporales
the functions and responsibilities of the DitKesan Parsonages Board. With the exception of major
Iransaclions, the DDBF delegates these respon￿bill[leS lo ￿ Investment Committee.
D￿San Sa
uardin
Adviso
Panel
The Diocesan Safeguarding Adviwry Panel is chaired independenty and r￿nitOrS safeguarding practice.
including casework and training within the Diocese. Its membership includes the Local Authority
Designated Officer. Police and w￿￿mIS￿ry￿0r Voice rgwesentation.
Church Buildin
Panel
The Church Buildings Pan81 is a r￿￿StatUtory group. which offers grants and loans lo Parochial Church
Councils for works to churth buildings.
Closed Churches Uses Panel
The Close¢J Churches Uses Commrttee is a non-statut¢Ny group. which was c￿ated lo acl on behalf of the
Diocesan Mission and Pastoral Commrttee. It seeks appropriate aKematNe uses for churches in the
Diocese which have been declared closed for regular public worship.
Strate
ic miss￿￿ DelNe
The Strategic Mission Delivery Board provides Strateg￿ oversight for mission programmes. It champions
and monitors progress. acts as an escalation point for key issues. approves s￿nIficant changes. approves
communications ar￿ ensures rèrx)rts are made to B1$￿p.S Council.
In addition, there are three statutory Committees and Boards that are nol diredy answerable to the Bishop's
Council, but influence its operation=
Diocesan Adviso
CoMM￿ee
The Diocesan Advisory Committee advises on matters affecling churches and pla￿5 of worship in the
Diocese, such as.. the granb.ng of facutties. architecture. archaeology, art and the history of pla￿$ of
worship," the use and care of pla￿$ of worship and their contents.. and the care of Churthyards.
Diocesan Board ofPatrona
The Diocesan Board ol Patronage, which is constituted under the provisions of the Patronage IBeneficesl
Measure 1986, 15 501e patron of one beneffi￿ in the DI￿ese.
D￿eSan Board ofEdUCat￿n
The Diocesan Board of EduCat￿n has resporbsibilrty for 57 church schools across the Diocese {9 of which
a￿ Vdunlary Aided. 15 are Voluntary Controlled. and 33 are Academies, wf(h one academy being a Free
School). 11 provKJes both educational and pastoral leadership support lo all rts schools and has a particular
commitment lo enhancing Ihe quality of prOVi￿On fix re1w￿S education. collective worship and the

Durham Diocesan Board of Finance
IA ¢ompany limit8d by guarantw)
Trustees, report (continued)
Year ended 31 December 2024
spiritual. moral. swal, arKI oJttural devdopment of all pupils. The Board of Education is not incorporated
and ther8fore finan(yal attountabilty for the education aggnda rests ￿ the DDBF. The Board of
Education operates as a statutory ￿1)Mittee ofthe DDBF.
Pu
efit stslem8nl
The directors and trustees are aware ol the Charity CommissKJn's guidan￿ on public ￿nefrt in The
Advancement of RelwJion for the Publ￿ Benefit and have had regard to rt in their administration of the DDBF.
The directors believe that. by promoting Ihe Work of the Churth of England in the DI￿Se of Durham. il helps
to promote the whole mission of the Church (pastoral. evangelistic. social and e¢vmeni(zll more effectively,
both in the Diocese as a whole and in its indNidual parishes. and that in doing so it provwjes a benefit lo the
public b￿.
Providing faolthes for public worship, pastoral care and sp4ritiJal. moral and intellectual development.
both for ils members and for anyone who wshes to benefit from what the Church offers; and
Promoting Christian values. and service by members of the Church in and to their communities. to the
benefrt of indivKluals and scoety as a Nthole.
The trustees are ojstodian trust￿$ in relation lo certain PCC prowty.
ee recruitmen
se
nd induction
Trustees are also Membe￿ of the Bishop's Ccwncil arvj are e￿cted or appointed by the mgmb&rs of the
Diocesan Synod in accordance with the njles for election. AJI Injstees ￿Ceive induction at the start of their term
of Offi￿ and re￿1ve additional induction where appropriale. Trustees are registered as directors al Companies
House and are r￿Uired to complete a declaration that they a￿ el¥Jible to serve as a director as well as an
annual declarab'on of interest.
muneration of ke
mana
ement
rsonn
As the DDBF has delegate(J responsibility for human resource iss￿$ lo the Finance Group, this gTOUP IS
responsible for agreeing the salary scales for all DD8F employees and for setling the remuneration for senior
employees.
Related arties
The DDBF has one wholty owned subsidiary, the 0￿xeSe of Durham Educational Trust. not trade during
the year and was dissdved shortty after the balance sheet date.
anisations with which the DDBF
rates in lurtherin
its aims
The DDBF works with a range ol organisations whith are erther part of or as50cialed with the Church ol
England, or othef chriSt￿n denominations to achieve rt5 Ofy'ectives. Somè of those are set out b8low. and in
some cases, there are a non-¢xJntrolling number of shared Irustees betsveen these organisalions and the
DDBF. The DDBF ensures Ihal such commm Irusleeships are appropnalefy declared and conflicts of interest
are mitigated when making decisions relabng to such organisations.
General S od Church Commiss
nd Archbish
The DDBF has to comply with Measures passed by the General Synod of the Church of England and is
required to make certain annual payments to Ihe Archbishops, Ci)uncil towards the running (x)sts of the
National Church. The DDBF is a recipient of funding from several different grant funding streams operate¢J
by the Archbishops, Council. The stipends and certain other costs of the Di(wan and Suffragan Bishops
are borne by the Church Commissioners.
18

Durham Diocesan Board of Finance
IA company limit8d by guaranto0)
Trustees, report (continued)
Year ended 31 December 2024
Parochial
ncils
The DDBF is required by Measure to be cust(MJian twstee in relation to PCC property, but has no control
over PCCS. which are independent chartbes. The a¢¢ounts of PCCS do not fomi part of these financial
statements. PCCS are able to irbffiuerKe the d￿lS1on-makin9 wrthin DDBF and at D￿n Synod levèl
through representslions to those bcKlies and through the input of their Deanery SYD￿￿S.
Multi Academ
Trusts
IAA Ts
The DDBF is a member of several MATS. including the Durham and New¢asUe Diocesan Learning Trust.
Until 1 September 2024. the Diocesan Direclor of Education was a direGtor of the Durham and Newcastle
Diocesan Leaming Trust al which point he restgned as Director of EducalK)n to take up the role of CEO of
the Trust as a full time role.
Newcastle Diocesan EduCat￿n 8oard Limited
The Newcastle Dio¢esan Education Board Limited INDEB) has respLMsibility for 49 church sthools (plus 2
affiliated schools with an anglican foundation) across the Di￿eSe of Newcastle. Unlike its counterpart in
Dutham, NDEB is an incorporated charitabk company and registered Gharity. The tsvo dioceses operate a
joint education team to manage the delNery of their obJ'ecb"ves auos5 the two dioceses. and until 1
September 2024. when they We￿ transfer￿ to the Joint Education Team LLP, this charity employed a
team of 9 employees working ioinuy for NDEB and the DDBF.
Joint Education Team LLP
The Joint Education TeaTn LLP is a Limited Liabih'ty Partnership befv￿en the DDBF arKi NDEB, which from
1 September 2024 jointly employs 9 employees lo carry Thjt the work of the di￿esan boards of education
in both Durham and Newcastle Dioceses.
Sfirlin
Newall T
A registered charity whose objective is the advancement of the Christian religion by the provision of a
house of retreat (Shepherds Dene Relreat House at ￿'dIng Mill. Northumberfandl for members of the
Church of England whether derical or lay who are re$￿ent or wod(ing in the area comprising the Dioceses
of Durham and Newcasue.
Lindisfame Col
of Theol
and CTrnmer Hall St John s Cdl
The region's theological educational institution5. both are registered charities whose objects included
the promotion and delNery ol education for both lay and ordained members of participating Christian
churches and the provision of other theologi￿1 and ministerial training lo both lay and ordained people.
Northumbrian Industnal MISSK
A registered charity which organises the actNiiies of around 40 a$s￿￿￿te chaplains who engage with
people in their places of wort. It also Wofks ministries in other sectors. in kxal churchgs and wilh other
agencies.
Hos
rfal ofGod at Grealham
A registered tharity whith prowdes residential ￿re aThJ alms-hcMJses for ol¢Jer people and makes grants to
other charities within the area of benefit
Lord Crewe s Cha
A r￿isterSd charity. one of whose prinapal aims is to assist n￿SsI10￿$ clèrgy and their dependents in the
Dioceses of Ourham and Newcastle, particularty for Ihe education of their children. and lo assist them in
other demonstrable finanoal need. and which provides grant funding used by the DIc￿eSe lo fund
Challenging Poverty priority and lo provNJe a dergy ￿￿nSel11Th3 seNice.
Sl H￿d and St Bede Trust
19

Durham Diocesan Board of Finance
(A Gompany Ilmltod by guarante•}
Trustees, report (continued)
Year ended 31 December 2024
A charitable trust whose 0tr4'ectives indude the adv8￿ment of fvrther and hKJher educalion in the
Oio¢eses of Dutham and New¢asde. wilh a focus on the advancement of education in accordance wtth the
doctrines of the Churd) of England.
Communifyes T ether oUrt￿M
charity which works wth churthes aThJ coThmunities to thallenge social injustice and lo enable
commLtnities to ftourish.
am Lesotho DI￿8$an Link
A ￿giStered charity whth aims to develop educational. AIDS awareness and income generating projects in
Lesotho. It also develcps educational proiecls for schools and to raise awareness and support for
inilialives in the D*)cese of Durham which foster doser spiritual links befv￿n the Anglican Church in
Lesotho and Durham.
North East Churches Acti
ether
A charity which works ecumenically to ser¥e the thurches of the North East thr(wh improving
communication ￿ developing partnerships and connections belween churches of different
denominatsons.
North East Reli
ious Leami
Resource Centre
A registered charrty which aims to supp(xt relwjious educalion. literacy and learning in schools and
churches across the North East of England through the [￿ViSIon of ￿$0￿[ce$, training and networking
op(thuniiies.
Political contributions
No political contributions have been made during the year (2023.. none).
Statement of disclosure to the auditor
So far as the trustees are aware:
there is no relevant audrt infomiatKK) of the tharitable Compan￿$ audrtor is unaware, and
we have tsken all the steps that we ought to have taken as trustees in order to make oursefves aware
of any relevant audrt infoffnation and to eslablish thal the charitsble company's audf(or is aware of than
infom)ation.
Auditor
A resolution lo reappoint UNW LLP as 8￿J]I￿ for 2025 financ￿1 year was talJed al the Board's Annual
General Meeting.
In approving th8 directors. and trustees, repcmt the of the o)mpany are also appromng th& stratagic
report as required under the Companies Act 2006.
On behatf of the Board on 29 April 2025.
Rt. Revd. Sarah Clark
Chair
20

Durham Diocesan Board of Finance
IA company 11rnit￿ by guarante0}
Statement of trustees. responsibilities
Year ended 31 December 2024
The Irustees are responsible for preparing the Annual Rewt which irKx)rporales the Stralegi¢ Report. and thg
financial statements in accordance with applicable law arKI regulatk)ns.
Company law requires the trustees las directors) to prepare financial statements for each financial year. Under
that law the trustees have elected to prepare the financial slatements in accordance with United Kingdom
Generaliy Accepled Accounting Practice Iunited KIn￿￿rn Accounting Standards and applicable lawl. Under
company law the trustees musl not approve the financial stslements unless they are satisfied Ihal they gwe a
true and fair view of the stale of the affair5 of Ihe charitable company and of the surplus or deficit of the
charitable company fw that period. In prepariThJ these financial statements the trustees are required to".
Select suitable accounting pjltcies and appty them consistently:
Observe the melh(xJs and win¢ipaJs in the Charthes SORP:
Make judgements and estimates that a￿ reasonable and prudent"
State whether appli(able UK AcccKJnling Standards have been foNowed. subject to any material
departures disclosed and explair&J in Ihe financial Staterr￿nts..
Prepare the financial statements on the going cOr￿M basis unless it is Inappropriate to presume that
the charitable company will continue in business..
The directors are responsibte for keepiw adequate acwnb.ng records that are sUff￿•ent to show and explain
the charitsble company's transacbons and disck)se wrth reasonable accuracy at any time the financial position
of the charitable company and enable them to ensure that the ffinan(yal statements compty with the Companies
Act 2006. They are also resFm)nSi￿e for safeguarding the assets of the charitable company and hence for
taking reasonable steps for the prevenlK)n and deledion of fraud and other irregularities.
21

Independent auditorfs report to the members of Durham Diocesan Board of Finance
(continued)
Oplnlon
Wts havg audited the finanaal statements of Durham DK)cesan Board of Finance Ithg 'charitable ￿mPan￿) for
the year ended 31 December 2024 which comprise the Statement of financkAI activities. the Income and
expenditure account. the balance sheet. ihe slatemenl of cash flows and the related Th)tes, including a
summary of swJnrficant accx)unling ￿1Cles. The financial reporting framewoT1( that has been applied in their
preparation is applicable law and United I￿r￿d0M Accounting Standards, induding Finanual Reporting
Stsndard 102 The Finanaal Rew)￿n9 SlarKlard applicatAe in thè UK and Republic of Ireland, {Uniled Kingdom
Generalty Accepted Acwinting F¥8Cli￿l.
In our (winion the financial statements..
gNe a true fair view of the stale of the tharttatAe U)Mpan￿S affairs as at 31 December 2024 and of
its incoming resourc*s and application of r&sources. ir￿lUding its income aThJ exp￿Ny11￿re for the year
then ended,.
have been property prepared in a(￿rdan￿ with United Kingdom Generally Accepted Accounting
Practice; and
have been prepared in a(tordance wilh the requirements of the Companies Act 2006.
Basis for opinion
We conducted our au¢Jit in accDrdance with Intemational Standards on Al￿Ibn9 (UK} I'ISAS IUKI.) and
applicable law. Our responsibilities undef ihose standards are further described in the'Auditorfs responsibilities
for the audit of the finanoal statements. sectN)n of our report. We a￿ indepen¢Jent of the charitsble company in
accordance with the 8thical fequirements that ar8 relevanl to our audri of the financial statements in the Unit8d
Kingdom, including the Financial Re￿￿n9 Councifs Ethical Standard. and we have futfilled ¢xJr other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is
sUffiC￿nt and appropriate to Pfovwje a basis for our opinion.
Conclusions rnlatlng to going ¢onc8m
In auditing the financial statements. we have concluded Ihat the trustees, use of the going concern basis of
accounting in the preparatson of the financial statements is appropriats.
Based on Ihe WO￿ we have ￿rf{¥med. we have not idenlfvd any matsrial uncertainties relaling to events or
conditions that, individually or colleclively. may casl signifKant doubt on the charitable companls ability to
continue as a going concem for a pgriod of at least tsvelve months from when the financial statements aro
aulhorisad for issue.
Our responsibilities and Ihe responsiknltlies of the trustees ￿th respecl to g￿Trg concem are deS￿bed in the
relevant Sections of this repo
Othgr inf0M￿tIon
The olher infomation comprises the informatK)n induded in Ihe annual report other than the financial
statements and our auditorfs report thereon. The tnjstee are responsible for thè other information contsined
wiihin the annual report. Our O￿nIOn on ihe financial stalemenls does not cover the other information and.
except lo the extent othe￿iSe eXpl￿rtlY stated in our report, we do not express any form of assurance
conclusion the￿On. Our responsibility is lo read the other inforniabon and. in doing so, consider whether the
olher infomiatbon is materially incDnsistènt wilh the finanual ststements or our knowledge obtsined in the
course of the audit, or otheN•Ase appears to be materialty misstaled. If we idenlify such materia5 inconsistencjes
or apparent material misstatements, we a￿ required lo determine whether this gives rise to a material
misststemenl in the financial slatemenls Ihemsefves. If. based on the work we have perfomd, we conclude
that there is a material misslatemenl of this other inf￿ation. we are required lo report that fad.
We have nothing lo report in this regard.
22

Independent auditorfs report to the members of Durham Diocesan Board of Finance
(continued)
Oplnlon on other matters pre$¢rIb￿ by the Companies Act 2¢)06
In our opinion, basad on the work undertaken in the course of the audit:
the infonnatwm given in the Trustees. rep(￿ including Ihe Strategic re￿rt for the financial year for which
the fin8nual statements are prepared 15 consistent with the financkal statemènts.
the Tnjstees. report and the Strategic repcrft have been wepared in accordance with applicable legal
requirements.
Matters on whl¢h we are requirèd to report by éxc•ption
In the lighl of our knowledge and understanding of the charitable company arHJ ils environment obtained in the
COUf5e of the audrt. we have not wjenlified malerial misstatements in the Trustees, repM)rt includirrfj the Strategic
repDrL
We have nothing to report in resK*Ct of the folknwwig maliers in relation to whth Companies Act 2006 requires
us lo report to you rf, in our wnion:
adequate accounts.ng records have not been kept. or ￿tUrnS adequ81e for our aLKlit have not been
received from branches rK)t visited by us: or
the financial ststements are not in agreement WElh the accounb.ng records and retums: or
certain disclosures of trustees. remuneration Spec1￿ by law are not made.. or
we have not received all the information explanations we require for our audit.
Responsibilities of trust¢
As explained more fulty in the tnjstees. responsibilities statement, the trustees (who are also the directors of the
charitsble company for the puwes of company lawl are resp￿sIble for the preparation of the financial
slalements and for being satisfied that they give a tnje and fair wew, and for suth inlemal control as the
trustees determine is necessary to enable the preparatK)n of financial stslements that are free from material
misstatement, whether due lo fraud or eThoT.
In preparing the finanaal stslements. the trustees are responsible for assessing the charitstAe compan￿$
abilrty lo continue as a going concem, disclosing. as app￿1¢able. matters ￿lated lo going concern and usin9 the
going c4)ncem basis of accounting unless the truslees ether intend to Iw4u￿a¢e the chaiitab18 r￿MpanY or to
cease operations. or have no realistic altemalive but to do so.
Auditorfs responslbllities for the audlt of the finan¢lal statements
Our objedives are lo obtain reasonable assurance about whether the finanaal statements as a whole are free
from material misststement, whether due to fraLwJ or error, and to issue an auditorfs retK)rt that includes our
opinion. Reasonable assuran¢e is a hNJh level of assurance. but is not a guaranlee that an audit conducted in
a¢¢￿ance with ISAS (UK} will always delect a material misslalemenl when it exists. Misstatements can arise
from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be
expected to influence the economic de(isions of users taken on the basis of these finanual statements.
Irregularities, induding fraud, are instsnces of non•Gompliance wlh laws and regulations. We design
prO￿d￿leS in line with our responsi￿"11t￿e5, ouuined above, to detect material misstatements in respect of
irregularities, including fraud. The extent to vthith our wocedures are capable of detecting irregularibes,
including fraud is detaibed bekyw:
We identified a￿a$ of law and rwJulations that could reasOna￿Y be expecied lo have a material eff￿t on the
rinancial statements from our general and sector exper
and through dtscussions with the trustees and
other marhagement {as requirèd by Audrting Standards) arKI from inspection of the charitsblg company's legal
correspondence, and we discussed ￿th the trustees and other management the policies and procedures
re9arding compliance wlh law5 and regulations. We communicated identified laws and regulations throughout
our team and remained alert to any indications of rThpcomplIar￿ throughout the audil.
23

Independent auditorfs report lo the members of Durham Diocesan Board of Finance
(continued)
Firstty. th& tharttable company is subject to laws and regulations that directy affect the finanual statements
including ffinanrial reporting ￿lsIation (including related companies and charities legislation) and taxation
legislalhjn and we assessed the extent of complh?nce with Ihese Laws and regulations as part of our procedures
on the related financial statement ilems.
Secondly. th8 charitable company is 5ubie¢t lo many other laws and regulati￿$ where the consequences of
non-compliance could have a material effect on amounts or disclosures in Ihe ffinancral ststements. for instan
through the impx)silion of fines or lrtigalN)n. We idenbfied the following areas as those most likety to have such
an effect," data protection. safe guarding and certain a$p￿ts of company legislatK)n. recognising the nature of
the Charitable companvs activities. Auditing Stsndards limit the ￿quired audit procedures to identify
non-compliance with these laws and regulatK)ns lo eThJuiry of the trustees and other management and
inspection ol regiJlal(vy and kgal corresp0n¢Jer￿. rf any. Thrwgh these procedures, we did not bgwme aware
of any actual or suspected n¢M-complla￿ material to the finanual statements.
Because of the inherent limttations of an a*Jri. there is a risk that we will not detect all Kregularitios. including
those leading to a material misstatement in the financial stslemenl or n0n-wmpllan￿ with regulation. This risk
in￿easeS the MO￿ that wTrpliance with a law or wulatjon ts removed from the events and transactk)ns
reflecled in the financial statements. as we will be less likety to become aware of instances of non-compliance.
The risk ￿ also greater regardirKJ irregularits.es occurring due lo fraud rather than error. as frawj involves
intents.onal concealment. forgery, collus￿n. omission or misrepresenlation.
A further description of our responsibilibes for the audit of the financial slalemer*s is located on the Finanlial
Reporting Counafs website at.. wM.frc.org.ukJauditorsresponsibilities. This description forms part of our
audrtorfs reF
Use of our report
This report is male solely to the charitsble CoMpan￿S members. as a body, in accordance ￿th Chapter 3 of
Part 16 of the Companies Act 21XJ6. Our audit w(￿k has been undertaken so that we might stale lo the
charitable compan￿$ rnembers those matters we are wuired to stale lo them in an auditors report and for no
other purpose. To the fullest extent pemtited by law. we do not accept or assume responsibilty to anyone
other than the charitable company and its members. as a b(NJy. for our audit work, for this report or for the
opinions we have fomied.
Anne Hallowell Bsc FCA DChA (Senlor Statutory Audltor)
for and on b¢half of UNW LLP. Statutory Auditor
Chartered Accountants
NewCaS￿e upon Tyne
29 April 2025
24

Durham Diocesan Board of Finance
IA company limited by guarante•}
Statement of financial actlvltles
Year ended 31 December 2024
Unrnstricted Restrl¢ted Endowment
funds
funds
funds
2024
2024
2024
Total
funds
2024
Total
funds
2023
Note
£¢)00
£000
£000
£000
Income and endowm¢nts from:
Donatiorbs..
Parish contribub.ons
Archbishops. Council
Other
Charitable actNilies
Other trading activit￿S
Investments
Other income
4,230
1,998
174
631
561
243
21
4,230
4.393
626
631
574
1,096
1,357
4.255
4,712
875
641
638
1.036
241
2,395
452
13
266
814
587
S22
10
Total income and endowments
Expendltur• on:
Raising funds
Charitable activities..
Contributions to ￿ch￿"shOps, Council
Resourcing mirbislry and missK)n
Resour¢ing education
7.858
1,109
12,907
12,398
11
55
79
13
14
15
514
8,992
241
514
697
12,282 11.933
241
288
3.279
Total expenditure
9.799
3.279
14
13,092
12,997
Net {expenditurellincome before n•t
gains on investments
(1.941)
661
1.095
{185)
1,097
(599}
3.310
Net gains on inves1m￿ts
209
820
Net In¢omellexpendllur•)
11.873)
870
1,91S
912
2.711
Transfers belween fund5
30
1.995
(2.559}
Nét movement in funds
122
912
2.711
Reconciliation of funds-
Total lunds brought fO￿ard
Nel movemenl in lunds
5.805
122
11.963
56,952
(644)
74,720
912
72,009
2.711
Totsl funds carried forwaTd
27
5.927
13,397
56,308
75.632
74,720
The notes on pages 29 to 62 form part of these financial statements.
25

Durham Diocesan Board of Finance
{A company limltad by guaranlo0}
Summary income and expendi￿re account
Year ended 31 December 2024
Total funds
2024
£000
Total funds
2023
£￿0
Note
Incom8
11.798
11,819
Gainslllo&sesl on investments
871
Gross Income In the rnporting p•rlod
Less." Totsl expenditure
12,075
113.078}
12,6
(12,9741
Not Incom*l{•xpendltuTe> for the reporting period
other ¢¢mpr•h¢n$lve Income
Net assets transferred from eThJowments
(1.003}
1284}
30
2,559
925
Net comprehensive income for the year
1.556
641
The income and expenditure account is derived from the ststemenl of financial acttvities with movements in
endowment funds exduded lo compty wilh c￿mpanY ￿w. AJI inc47me and expenditufe is derived from continuing
activities.
The notes on pages 29 to 62 form part of Ihese finanual stslements.
26

Durham Diocesan Board of Finance
IA company limited by guarante•)
Balance sheet
Year ended 31 December 2024
2024
£000
2023
Nota
Fix•d a$$ets
Tangible assets
Investments
20
21
36,017
37.034
35.758
36,812
73.051
72.570
Current assets
Oeblors
Cash on deposit
Cash al bank arKI in hand
2.505
1,368
634
1,731
23
1.106
4.782
3,733
Credilors.. amounts falliro due within one
year
24
2.152
Net current assots
2.630
2.199
Total assets less current Ilabllftles
Creditors.. amounts falling due after more
than one year
7&681
74.769
25
149)
{491
Total net assets
75,632
74,720
Charlty funds
Endowment funds
27
56.308
56,952
Restricted funds
27
13,397
11.963
Unrèstrfcted funds
Designale¢J funds
General fund5
27
27
5.920
5.798
Totsl un￿Stricted funds
27
5,927
5,805
Totsl funds
75.632
74,720
The trustees athnowledge their reSp￿sibIl￿9 f¢x complying wth the requirements of the Act with respect to
accounting records arKI preparation of financial statements.
financial slalements were approved and aLrthorised for issue by the trustees on 29 April 2025 and signed
on th￿r beh8K by.
Rt. Revd. Sarah Clark
Chair
Company ￿gIStered number.. ￿192018
The notes on pages 29 to 62 fomi part of these finar￿1￿ slalements.
27

Durham Diocesan Board of Finance
IA company limlt•d by guarante81
Statemenl of cash flows
Year ended 31 December 2024
2024
£000
2023
£i)00
Note
Cash flows from operatlng acti¥rb•s
Nel cash used in operating actNrties
31
12,301}
1990)
Cash flows from Investlng adlvrtles
Dividends. interests and rents from investments
Proceeds from the sale of larwjible frxed assets
Purchase of tangible fLxed assets
Proceeds from sale of invesbnents
Purchase of investments
1.096
1.543
(1,302)
875
1.036
996
12.7381
677
(10)
Net ¢￿h provided byl (us8d inl inv•sting a¢tivlti•s
2.212
1391
Cash flows from financlng a¢tfvlties
New loans advanced
Repayment of loans affvan(*d
121)
{2921
Ngt cash provlded byl (used Inl financing activities
1292)
Change in cash and cash equfvalents In the year
Cash and (Ssh equNalents al the beginnirvJ of the year
188)
2.365
{1.3211
3,686
Cash and ￿$h equivalents at th• •nd of the year
32
2.277
2.365
The notes on pages 29 to 62 fom) part ofthese financial statements
28

Durham Diocesan Board of Finance
IA ¢ompany limited by guarants•}
Notes to the financial statements
Year ended 31 December 2024
General inforniation
Durham DK)cesan Board of Finance is a Charitable company limiled by membership guarantee and
incorporated and domialed in England. The registered office address is Cuthbert House. Stonebridge,
Durham. DH13RY.
A¢¢ounting polici•s
2.1 Basls of preparatlon of Ilnan¢lal Statemonts
The financial statements have been wepared in a¢￿Idance 7Mih the Charities SORP IFRS 102} -
Acwunting and Reporting by Charities.. Statement of ReLY)mmended Practice appI￿able to charrties
preparing their accounts in accordance with the Financial Rewrting Standard applicable in th8 UK
and Republic of Ireland IFRS 102) (effective 1 January 20191. the Financi81 Reporting Stsndard
applicable in the UK and ReputAic of Ireland IFRS 102) and the Companies Act 20Cfj.
Ourham Diocesan Board of Finance meets the definition of a public benefrt entrty under FRS 102.
Assets and Liabil[i￿$ are initialty re¢(YJnised at hislorical cost or transaction value unless othe￿ise
slated in the relevant accounts.ng policy.
financial statements are presented in Founds steding wh￿h is the fvn¢t￿naI currency of the
cc*npany aThY are rounded to the nearest £1.C￿.
2.2 Exemption from preparing group a¢counts
The charitable company is Ihe controlling paty of Diocese of Durham Educati￿81 Trust. a domiant
subsidiary undertaking_ In the opinion of the directorsltrustees, the size and assets of the subsidiary
undertaking mean that the presentstion of the combined resutts and financAal posits.on in
consolidated financAal slalements is rK)t materi81 for the purpose of gNing a true and fair view.
These financial statements present the results and the position of the charitsble company as
single entity and not as a group. This company was dissofved in January 2025.
2.3 Going ¢on¢em
The trustees have u)nsKlered the availability of reserves and cash upon the going concern basis of
preparation of these finanoal statements. Although uncertainty rernains. particularly over the
recovery in parish income and thè real-temis reduction in the value of parish share. it is anticipated
that reserves will remain wilhin the ￿Ve1 sel (xjl in the reseThes policy.
Having reviewed forecasts for the forthLx)ming twelve m(*hths that are subject to a ran9e of
Teasonabty possible downsKle scenarios. the Irustees are cL)mfortable that with the current levels of
cash and short-terni deposits a￿ suffiaent to allow Ihe DDBF lo ccMtinue to operate as a going
concein for the foreseeable (ulure.

Durham Diocesan Board of Finance
{A company Ilmited by guarante•l
Notes to the financial statements
Year ended 31 December 2024
Accounting policies (continued)
2A In¢¢>m¢
l income is recognised orKe the company has entiuemenl lo the income, it is probable that the
income will be recetved and the amount of incoTh re￿Vable can be measured reliably.
Grants are included in the ststement of financial a¢tiv[t￿ on a recetV8ble basis. The balance of
income reoEivwJ for spectfic purposes but not expended during the periLNJ is shown in the relevant
frjnds on the balar￿e sheet Where income is receNed in advance of entiuement of receipl. ils
recognition is deferred and induded in creditors as def6¥red income. Where antitlement occurs
before income is received, the inc(Mne ts acwed.
The prinopal sources of income of the DDBF are C(￿tributIOnS from Arthbishops. Council and
parish share. The share monies are recoJnised in the statement of financial activities in the period
in which they are receivable. although arrears are not shown as debtors Sin￿ only constructive
pressure can be applied to encourage parishes lo pay any outstsnding sums. Debts for parish share
are not enfc￿ceab￿.
The Stipends Capital Fund is govemed by the Dio¢esan Stipends, Fund Measure 1953, as
amended. and the use of the income is restricted for dergy stipends. However, the income is fully
expended within the year of receipt and tt)e legal reStr￿￿OnS, the￿fore. are satssfied. The Dioc8se
adopts a lotsl retum approach to Ihe investments in this fund and consequenuy recognises the
income and any direcl expenditure as eThlowed. and transfers an amount each year to unreslricled
funds lo cover the expendilure on stipends whth this is hel¢J for.
Selective alIC￿atIonS from the Church Commissioners are credited to the Stipends and General
FuThJ on a rtv)nthty basis and rewntsed in the SOFA as incomir¥J resources.
Lega¢ies. ￿ntribUtionS and other donations are acc(wnled for when o)ndrtions for thgir receipt hav8
been met. Investment income is accounted for when receivable. Rentsl income for glebe and other
property is shobvn separately. Incoming resources from charitable act5Vities indLKling clergy fees.
chaplaincy Incon￿ ond guaranteed annuities are receiva￿ on a monthty basis.
Other sundry income, indudry gains on disposal of propwties. is racognis8d in th8 s¢%A in the
8ccounting perKKI in which monies are receNabJe.
2.5 Expenditure
Expenditure is induded on the accruals basts and has been dassified under headings that
aggregate all costs related to Ihe SOFA categcKy. ExpendTiure is staled inclusive of iffecoverable
VAT.
Costs of raising fvnds are constrained to costs ￿lating to the lemporary renting out of parsonages
and inveslment management costs of glebe and any other investsments held.
Grants payable are charged in the year when the offer is Conveyed to the re¢ipient except in those
cases where the offer is COnd￿"0nal on the recIp￿￿t satisfying perfOrrnan￿ or other discretionary
requirements lo the Satisfaction of the Board. such granls being ￿CogniSed as expenditure when
the condrtions attaching are futrilled. Grants offered subject to such cnnditions have not been
met at the year end are noted as a wmmitmenL bul not acwed as expenditure.

Durham Diocesan Board of Finance
IA company limited by 9uaranteel
Notes to the financlal statements
Year ended 31 December 2024
Accounting policies (continued)
2.5 Expondlturn {o>ntlnuodl
Payments in support of semces provKJed by the Archbishop5' Courril are ￿garded as grants and
the annual amounts payable are divided into monlhty instalrnents.
Resour(ing minislry and mission costs are the costs inwrred by Ihe Board in maintaining resident
Clergy in numerous parishes through(yJl the Dwse. These indude stipends. national insurance,
housing, rebcatKTrn. and a range of supFK)rt (x)sts.
Support costs corysisl of central management. administration and governance costs. The amount
spent on raising funds and other actNibes is considered to- be immaterial and all support costs are
allocated lo the purpose of charitable activities. Costs are allocated wherever possible directty to
the activity to Wh￿ they retate. but where suth direct alk)calK)n is not possible, the remainder is
allocaled on an appr0￿mate staff time basis.
2.6 Pension ¢ontrllMrtlons
The DDBF'S staff are members of the Church Workers Pension Fund and Clergy are members of
the Church of England Funded Pension Scheme. The pension costs charged as resources
expended ￿present the DDBPS ¢ontribubons payable in rosp8ct of the accounting period, in
a¢¢ordan¢e vthh FRS 102. DefKit lu1￿1ng for the pension s¢J)emes to which the DDBF participates
is accrued at current value in credrtors disliThJuished between contn"butions falling due within one
year and after more than one year.
The DDBF *0 operates a stakeholder scheme ar￿ cnntributes lo personal pensitM schemes for
which conlrtjutions are charged to the SOFA as they fall due.
2.7 Tanglble fixed assets and depreclallon
Tangible fLxed asseis are initially rwnised al cost.
Freehold and leasehold ljuildings
It is the DDBF'S policy that in respect of many of its buildings, no depreciation is charged as any
provisK)n would r￿[ be malerial due to the very kjng expected remaining useful economic life in
each case. and because their expected residual value is not Materially less than their carrying
value.
The DDBF has a policy of regular structurdl inspectvjn. Tepair and maintenance, which in the case
of residual properties is in accordan￿ wilh the Repair of Benefices Building Measure 1972 and
properties are therefore unlikely to deteriorate or suffer from obsolescence. In addition, disposals of
properties wcur well before the end of their economic INes and ¢Jisposal proceeds are usualty not
less than thwr carrying value.
Annual impaim)ent ￿vIewS are perf0m￿d in accordance wth the requirements of FRS102 to
ensure that the carrying value is not more than the ￿cOverable amount. Where the recoverable
amount is estimated to be less Ihan Ihe carying amount. depreciation is charged in the financial
statements.
31

Durham Diocesan Board of Finance
IA Company Ilmitod by guarant•o)
Notes to the financial statements
Year ended 31 December 2024
School buildings
Schwl buildings are occuw&J and, in the case of Vduntary Mded schcols. improved. extended and
repaired by the school govemors. The nature of the occupation of these buisdings by these exempl
and excepted charities means that DDBF trustees do r￿t have the power to dispose of the buildings
until the schrxA ceases its ocrupation. which in lum would require the aFffyroval of the Secretary of
stste. Any F¥oceeds of sale would be su￿.8¢1 to claw-ba￿, by the Seuetary of State. of related
grant aid provKled. The tn1st￿ consmler tho Board's ownership to be in the nature of custodianship
of the assets and these are thèrefore not capitalised in th8 financial statements. Details of the
Voluntary Aided schcc4s can be obtsined fr¢xn the Jwt Educati￿] Team.
Depreciation on other tangibb fixed assels
Depreciation is [￿v￿je￿ in ryder lo write off the cost {less any residual value) of other fixed assets
over their currenty expected useful eo)norrMc lives at the following inilial rates..
Freehold arKI loasehdd F*OPth - shorter of SO years or lemi
Furnitu￿ and Offi￿ gjuipment
33% per annum stra￿ah1 line
2.8 Total rètum Investment policy
The board passed a resolulion on 1 December 2022 to adopt a total relum policy in respect of the
stipends ￿pItal endowed funds. Thts approach allows any Fnuease in the value of an investment to
be used as income. The decision was taken lo ensure th8t Diocese invests in a way that has
approwale regard to the furtherance of tis aims both now and in the luture.
The board identified the re￿an1 funds and apkxxt'oned it into the value of the original endowment
{which forms the Investrnent FuThJl and the unapplied investment retum (which forms the unapplied
total reluml. The calculation of the value of the investment fund on Ihe date of adoption was based
upon the book value of assets at 1 January 1997. adjusted for inllation and additions since that
date.
Al en¢Yowed investment retums are deswJnated as unapplied totsl retum unb"l Trustees de¢id8 how it
i8 lo be used. At the discrelKJn of the btsard. some of the totd unapplied retum may bè allocated to
the income fund each year to be spent on its aims.
Trusteas may all¢x*e an amount of thg unapp11￿ total relum to the investrnent funds. The am(￿nt
that can be allcKated to the investment fund is capped. The cap is calculated by using the rise in
inflatKJn from a parb¢ular date. being either Ihe date of resolubon if no previous allocation has been
made or date of the last allocation lo the inves1m￿t fund.
2.9 Investments
Investments in agrityjllural IK4dings. (#)mmercial propertiès an¢J investrnent securities are shown at
their market value on the balance sheet date. AJI gains and losses on investments are recognised in
the SOFA. Investments held by the DDBF as custodian trustee are not included in Ihese accounts.
Investments in unlisted investsnents and the subsidiary are stated at cost ￿s$ provision for
impaimienl. Investments also irtlud& l(w temi loans made by the DDBF uThJer concessionary
tefms.
32

Durham Diocesan Board of Finance
IA company limited by guarant••l
Notes to the financial statements
Year ended 31 December 2024
2.10 Finanelal Instruments
Loans
Loans made by the DDBF lo further its charitable purposes at rates below prevailing market rates
are daSSif￿ as concess￿nary loans an(J accounled for in accordance with Sèction 34 of FRS 102.
Such loans are initialty rec(w)nised arKI measured at the amount received and subsequently
Jjusled to reflect any repaymenls. actyued interest and any subsequent impaim)enl.
Debtors
Debtors are rec(¥Jnised at the settlement amwnt due.
Cash and cash equivalenls
Cash on deposit indude5 cash held in short terrn highly IkiuKI ts)vestrnents wrth a short maturity of
three months or less from the dale of acquisition or opening of the deposit or sirnilar account.
Creditors andprovisit￿S
CreditC¥5 and provisions are rec4)gnised where the DDBF has a present obligation resulting from a
past event that will probably result in the transfer of funds to a third party and the amount due lo
settle the obligation can be measured or esb'mated reliably. Creditors and provisions are normally
reCOgn￿e￿ at their settknient amount after allwng for any trade discounts due.
Equrty share loan
The DDBF has one loan for whth Ihe setljement prcKeeds are based on the value of the equity in a
opety- As this consblutes a non-basic finanoal instnjment under FRS 102 this loan has been
recognised at fair value an¢J 15 revalued at eath reporting date. Any gains and k)sses arising at each
year-end are recognised in the SOFA.
2.11 Operating leases
Rentals paid under operating leases are charged lo the statement of finanual actimks on a straight
line basis over the lease lem).
2.12 Fund a¢¢ountlng
General fvnds represent funds which are expendable at the discretion of the directors in the
rtherance of the objeclNes of the charity. Suth funds may be held in order to finance both working
capital and capital investrnenl.
Designated funds a￿ amounts which have been put aside at the discretion of Ihe directors and
are thwefore not available for other purposes. All of the unrestricled fund5 apart from the General
Fund are now r8garde(l a5 designated. These are included wth the unrestricted funds Column in the
SOFA.
. Restrlcted lunds repr￿n1 grants, d(¥)ations. ￿cleS and assets which are allocated by the
donor for speofic purposes. The largest restrided lund is the Pastoral Account.
33

Durham Diocesan Board of Finance
(A company Ilmit•d by guarant•e)
Notes to the financlal statements
Year ended 31 December 2024
2.12 Fund accountlng (¢ontinued}
. End¢wment fur￿$ are those held cffi trust to be retained for the benefit of the charity as a capital
fund. In the case of the end(rwmenl fvnds administered by the Board {Stipends Capitsl FLsnd, 8ThJ
Parsonage Houses Fund}. there are discreiionary powers to convert casytal into income and, as a
resutt. these funds are classrfied as expendable endtrwment. Endowment funds where th8te is no
provision for expenditure of capital are ￿3￿ffied as pem)anent endowmenL
The board has adopted a total retum approath to investments held within the Stipends Capital
Fund. Assets are investthj to pr(Klu¢e an investment retum wtthout regard to whether that relum is
in the form of income or capital appwiation. An alknation is made each year from unapplied lotsl
retum to trust for investment to ensure that the capital value of assets in trust are not eroded over
time.
Trusts where the DDBF acts merety as cust(Klian trustee ￿ no control over the management of
the furKJs are not induded in the ffinancial statements but are summarised in the notes to the
fmancial statements.
Critical accounting estlmat•s and areas ol Judgment
Estimates and judgments are continualty evaluatsd and are based on historical experien￿ and other
factors, induding expectations of future events that are believed to be reasonable undèr the
¢ircumstsnces.
Key areas sufy'e¢t to estimation are as fdlows:
Fair value on inv8slmentproperty
The DDBF hohjs investment Prop￿ (x)mprising agn￿K￿ra1 land al fair value. The DDBF uses an
independent external qualthed surveyor to assess the value of this land based on a site by sile
consideration of the assets and the market condilKJns exiskn"w at the balarKe sheet date.
Fair values estimated for equity share loan
The DDBF has one loan for which the seffiemenl proceeds are based on the value of the equity in a
property. As required by FRS102 this loan has been stated in accordance wth an estimate of fair value.
The DDBF makes use of intemal experts in arriving at this fair value. This loan is repayable on th8 eadier
of the death of the borrower or the sale of the related property and therefore the timing of its ￿paYment
is uncertain. Therefore, Ihis k)an is measured as a proportbon of the fair value al each repcKting dale and
has not been discounled.
Other estimates inclLKled wrfhin these financial statements indude depreciation charges. None of the
estimates made are considered to carry s￿nrf￿ant ests'mats"on uncertainty, nor to bear signtficant risk of
causing a material adjustrnent to carying amounts of assets and liabilrties wrthin the next financial year.
In preparing these financial ststements the trustees do not consKler there were any significant areas of
judgement that were required in apptying the charrtvs accounting p(Ai(>es as set out above.

Durham Diocesan Board of Finance
IA company limil•d by guarant••l
Notes to the financial statements
Year ended 31 December 2024
Parlsh contribution$
Total funds Total funds
2024
2023
£000
£000
Unrestrictsd general fund - parish shar•
contribub.ons pledg8d ar7d paid
Contributions from previous years
4,181
49
4,227
28
4,230
4,255
Cuttent year parish share receipts lexduding contribut￿$ from prior years) as a
proportion of total amounts pledged
95.OY.
95.2%
Archblshops. Council
Unrestrictgd Restricted
funds
funds
2024
2024
£000
£000
Total
funds
2024
£000
Lower inL*me communities fund
Strategic development fund
Diocesan investment programme
Moving towaids net zero
Strategic minislry funding
Ordinands, training grant
Other national church furKling
1.998
1.998
1.269
332
74
429
28
263
1.269
332
74
429
28
263
1,998
Unrestricted
funds
2023
2.395
4,393
Total
funds
2023
£000
Restricted
funds
2023
Lower inc4)me communrties fiJnd
Strategic development fund
Energy and cost of liwng grants
Strategic ministy ftjnding
Ofdinands. training grant
2.067
48
2,067
1,873
40
383
349
1,825
40
383
349
2.115
2.597
4,712
35

Durham Diocesan Board of Finance
(A ¢ompany limit•d by guarantee)
Notes to the financial statements
Year ended 31 December 2024
Othw donatlon$
Unrestrl¢tsd Restrfctsd
funds
funds
2024
2024
£000
£000
Total
funds
2024
£000
Benefact Trust
Lord Crewe's Charity
Sl Hild and St Bed& Trust
Other grants and donatiw
135
195
13
39
13
78
39
174
452
626
Unrestricted
funds
2023
£(X>O
Restricted
funds
2023
£000
Total
funds
2023
£000
Benefaet Twst
Lord Crewe's Charity
Sl Hild and St Bede Tntsi
Other grants and donations
157
23
353
180
353
15
327
15
57
270
229
646
875
I￿orne from ¢haritable activlu
Total funds Total funds
2024
2023
£000
£000
Slalutory fees
Chaplaincy
St Hild and Sl Bede Trust
Mis¢ellaneous inwme
387
45
494
50
190
76
631
628

Durham Diocesan Board of Finance
(A Company limited by guarant••)
Notes to the financial statements
Year ended 31 December 2024
Income from other a¢¢lvities
Unrnstri¢ted Restrlet
funds
funds
2024
2024
£000
£000
Total
funds
2024
£000
Rental income from parsonages
Education servrE level agreements
mis¢ellar￿￿S income
557
15
11
561
13
574
Unrestricted
funds
2023
Restricted
funds
2023
£000
Total
funds
2023
£000
Rental income from parsonages
Education service level agreements
iscellaneous income
508
127
508
130
635
638
Income from Investments
Unrestrlcted
funds
2024
£000
Restricted Endowment
lund$
funds
2024
2024
£000
£000
Total
fund$
2024
£000
Income from UK listed invests))ents
Inleresl ￿¢eNable
Rents receivable
250
16
587
921
118
102
266
587
1,096
Unrestricted
fijnds
2023
Restricted
ftjnds
2023
£000
Endowment
fijnds
2023
£000
Total
funds
2023
£000
Inu)me Irom UK listed investsiwits
Interest receivable
Rents receivable
411
17
55
211
338
960
21
55
215
338
1.036
37

Durham Diocesan Board of Finance
(A o>mpany limitsd by guaran￿)
Notes to the financial statements
Year ended 31 December 2024
10.
Oth•r Incom•
Unrestricted
funds
2024
Restrlcted
funds
2024
Endowment
funds
2024
Total
funds
2024
£000
£000
£000
Gain on disposal of properties
Pension surplus on scheme cb)sure (see note
21
522
371
814
814
814
21
522
1,357
UnreslTicled
funds
2023
Restricted
funds
2023
Endowm8nt
nds
2023
Total
funds
2023
£000
Gain on disposal of properties
241
241
11. Fundraising costs
Unr•stricted Endowment
nds
funds
2024
2024
£000
£000
Total
funds
2024
£000
Glebe agents fees
Glebe investment costs
19
33
52
19
36
55
UnrestrKled Endowment
fvnds
lunds
2023
2023
£000
£000
Total
funds
2023
£000
Glebe agents fees
Glebe investrnenl costs
31
31
48
79
79
38

Durham Diocesan Board of Finance
(A Company limlted by guarants•l
Notes to the financial ststements
Year ended 31 December 2024
12. Analysis of •xpenditur• by a¢tivili•s
Athltles
undertaken
directly
2024
Grant
funding of
activities
Support
costs
2024
Total
fund$
2024
£000
2024
£000
Contributions to thhbishops, cour￿11 (note
131
Resourcing ministy and miSSK￿ {note 141
Resourcing EdLKat*)n (note 151
514
514
9.950
241
358
1,974
12.282
241
10.191
872
1,974
13,037
Activitbes
undertaken
dire¢Uy
2023
£000
Grant
funding of
actNities
2023
Support
costs
2023
£000
Total
funds
2023
£000
Contributions lo Arthbishops. Cwncil (note
131
ResOu￿•ng mini51ry and mission (note 14)
Resourcing Education (note 15)
697
697
9.760
710
1.463
11.933
288
10,048
1.407
1.463
12.918
13. C¢)ntributions to Ar¢hbish¢w' Council
Unrestricte(J Restricted
fvnds
funds
2024
2024
£(M)O
£(K)O
Total
funds
2024
£000
Training for ministy
National Church responsibilrties
Grant5 and promsions
Pooling of ordinand candidates
223
249
120
(78)
223
249
120
1781
514
514
39

Durham Diocesan Board of Finance
(A Company limltsd by guarant••)
Notes to the financ5al ststements
Year ended 31 December 2024
13.
Contrlbutions to Archbishops. Councll (continued)
Unrestricled Restricted
fijnds
funds
2023
2023
£000
Total
funds
2023
£000
Training for ministy
National Church responsibiliknes
Grants and provisions
Pooling of ordinand candidates
224
250
228
(91
224
250
232
19)
693
697
14. Exp•ndlture on r¢tthircing minlstry and mlsslon
Unrestricted R•stricted Endowment
funds
funds
funds
2024
2024
2D24
£000
£000
Total
funds
2024
£oDo
Stipends and national insuran(*
Clergy pension
Housing costs
Removal, resetdemenl and other grants
Mission.. sbpendk4ry. stsff and actNity costs
Lindisfame Regional Training Partnership grant
Strategic development costs
Other expenses and grants
Support for parish ministry (see noie 16>
3.496
791
2.076
$49
130
26
11
1,571
36
200
276
480
4.045
921
2.102
125
2.123
74
200
718
1,974
552
442
1.483
8,992
3,279
11
12,282
40

Durham Diocesan Board of Finance
{A company limltod by guarantse)
Notes to the financial statements
Year ended 31 December 2024
14. Expenditure on r*xiurcing rninislry and mission {¢ontinu•dl
Unrestricted Resiricted Endowment
funds
fvnds
fijnds
2023
2023
2023
£000
£000
£000
Total
funds
2023
£000
Stipends and nab.onal insuranc
Clergy pension
Housing costs
Removal. resetuement and other grants
Mission.. stipendiary. staff and activty Costs
Lindisfame Regional Training Partnership grant
strateg￿ development costs
Other expenses and grants
Support for parish ministy (see note 16)
3.463
581
917
1,892
188
1,994
367
297
771
1,463
1.881
175
10
13
1.498
307
297
230
317
541
1.133
13
8.610
3.300
23
11,933
15. R•sourclng education
Unrestricted Restrictsd
nds
funds
2023
2023
£000
£000
Total
funds
2023
£000
Administration
Closed schools
241
241
241
241
Unrestricled
funds
2023
£(M)O
Restric¢ed
fvnds
2023
£000
Total
funds
2023
£000
Administration
osed schooL%
278
278
10
10
278
10
288
41

Durham Diocesan Board of Finance
(A Company Ilmit￿ by guarantw)
Notes to the financial statements
Year ended 31 December 2024
16. Analysls of support costs
Totsl
funds
2024
Total
funds
2023
£000
Central staff c4)sls
Central office and premises
Technology arKI communicalion
Depreciatson
Legal and registry costs
Synod, Board and Commitlee expenses
Exiemal audit
Other support costs
Other costs
936
255
179
750
89
45
150
53
25
66
119
169
60
29
196
107
1.974
1.463
17. Anatysis of grants mad¢
Totsl
2024
£000
Individuals Institutions
£000
£000
From unr•slrid¢d funds lor
Natlonal Church r•sponsibilities:
Contributions to Archbishops. Coun
Other grants mad•:
NECAT
Northumbfian IrKlustrial Mission
Lesotho
Training for Ministry Grants
Resettlement and Fwst Appointment Grants
Ordinands. Grants
Basi¢ Clergy Development Grants
Mission Fund Grants
Church building commitiee granls
PCCS
394
394
25
74
114
120
19
27
74
114
120
19
27
25
25
354
518
872
42

Durham Diocesan Board of Finance
(A Company lirnit8d by guarantw)
Notes to the financial statements
Year ended 31 December 2024
17. Anatysls of grants made {contlnued}
Total
2023
£000
lThJividuals
Institutions
£000
From unrestricted funds for
Natlonal Church responslbllities:
Contributions to ￿ChbIShOpS. Counc
Other grants mad•:
NECAT
Lesotho
Resettlement and Fitsl Appointment Grants
Ordinan¢Js' Grants
Basic Clergy Development Grants
sp&￿al CMD & Sabbabcal Grants
issi¢)n Fund Grants
Church building committee grants
Ministry Hardship Grant
Energy Support Grant funding
Lindisfame College of Theor￿jY
466
25
25
157
231
18
157
231
18
23
23
34
367
907
367
1.407
500
18. Auditorfs rgmuneration
2024
£000
2023
£000
Fees payable to the Charrtable company's auditor for the audrt of the
charitsble company's annual accounts
Fees payable lo the charitsble company's audrior in respect ot
I nc¥Faudit seryKes not induded above
30
24
19. Staff costs
2024
£000
2023
£000
Employee ¢osts during the year were as follows-
Wages and salaries
Natsonal insurance contribulM)ns
Pension costs
1.796
179
300
2.275
1,649
165
219
2,033
43

Durham Diocesan Board of Finance
(A company Ilmltsd by guaranto•)
Notes to the financial ststements
Year ended 31 December 2024
19. Stsff costs Icontinu¢d)
2024
£000
2023
Th¢ averng¢ monthly numboT of •mployees during th• year wern as
follows:
Staff
47
The number of hKJher paid emP￿ee$ was:
2024
No.
2023
In the band £60.(bJ1 - £70.CMX)
In the band £80.001- £90.(M)O
R•mun•ration of koy management porsonnel
Key management personnd are deemed to be those having aUth￿ty arKI responsibility. delegated lo
them by the trustees, for ￿0￿nIr￿j, dirgcbng and contrdling the ac￿"V￿eS of Ihe Oioce58. During 2024
they were..
Diocesan Secretary
Mr J James G Morgan
Director of Mission. Discipleship & Ministy
Head of Transfomiational DelNery
Remuneration. pensions and employerfs na￿nal Insuran￿ contributions for the above empioyegs
amounted to £221.868 (2023.. £157.904).
The Venerable Elizabeth M Wilkinson
Mrs Amy H Bums (from 1810412024}

Durham Diocesan Board of Finance
IA company limited by guarant8•1
Notes to the financial statements
Year ended 31 December 2024
19. Staff ¢osts {¢ontinued)
T￿sta•S. •molunwnts
No trustee recewed any remuneratK)n for seryi(*s as trustee (2023." £nilJ. During the year. 7 Iruslees
(2023.. 7) received travelling, subsislence and incidentsl costs, totslling £12,644 (2023.- £15,510) in
fespect of General Synod duties. dthies as archdeacon or arealrural dean. and other duties as Iru5tees.
During the yeai Ihe Board made LX)ntributrons to the Churth Commissioner5 al the standard rale agreed
by Dio¢esan Synod towards the stipends. national Insuran￿ and pensR)n conlribubons of the licensed
clergy who are directors of the Board and provided houses. including payment of council tsx and
maintenance costs, as part of nom)al dergy remuneration.
The following table gwes detrils of the trustees who were in receipt of a stipend andlor housing provided
by the DDBF duwing the year:
The Bishop of Durham- RpJhl RevereThJ PR Buller {Chair}
(until 29 February 2024}
The Bishop of Jarrow- RvJht Reverend SE Clark
The Archdeacon of Auckjand - Venerable RL &mpson
The Archdeacon of Dutham- Venerable EM Wilkinson
The Archdeacon of SunderfarwJ- Venerable RG Cwr
Reverend P Amold
Reverend L Sutherland (unb"131 October 2024)
Canon D Tolhursl (until 31 October 20241
Reverend 8 Huish (from 19 December 2024)
Reverend M Lewnsohn {from 19 Dttember 2024}
Stlpend
Housing
No
No
Yos
Yas
Yes
Yes
No
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
The DDBF is responsible for fijnding via the Church Commissioners the stipends of licensed stipendiary
clergy in the Diocese, other than bishops and cathedral staff. The DDBF is also responsib￿ for the
provish)n of housing for sbpendiary clergy in the Drocese induding the Sufftagan Bishop.
The DDBF pai¢J an average of 135 {2023.- 739) stipendiary clergy al￿ lay ministers as office-holders
holding parochial or d￿eSa￿ appointments in the Diocese. and the costs were as fcAIows'.
2024
£000
2023
£000
Stipends
National insurance contributions
Pension costs - current year contribJ￿ns
3,736
335
853
3.722
325
952
4.924
4,999
45

Durham Diocesan Board of Finance
IA company limited by guarantee)
Notes to the financial statements
Year ended 31 December 2024
20. Tanglble fixed assets
Glebo
Property
Property equlpment Parsonages
Total
£000
Cost or valuatlon
At 1 January 2024
Addttions
Disposals
At 31 De￿rnber 2024
3.702
101
20.081
339
1661)
19.759
11819
594
(1291
13,284
36.703
1,302
(1.0161
36.989
(226)
Depreclation
At 1 January 2024
Charge fi)r the year
On disposals
At 31 December 2024
185
97
417
246
945
(13)
407
{31
250
(161
972
217
Net book value
At 31 December 2024
3.628
19.352
13.034
36.017
At 31 D￿ember 2023
3.517
19.664
12.573
35,758
46

Durham Diocesan Board of Finance
(A company limit•d by guarnntse)
Notes to the financial statements
Year ended 31 December 2024
21. Fixad asset invostments
Listed
investments
Loans to Agrlcultural
associatss
land
Total
£000
Cost or valuation
At 1 January 2024
Additions
Disposals
Revaluations
At 31 December 2024
33.468
3.315
36,812
{652)
776
33.592
(218)
316
3,413
18701
1,092
37.034
Net book value
At 31 December 2024
33.592
3,413
37.034
At 31 December 2023
33.468
29
3.315
36,812
Historic cost at 31 December 2024
26.482
398
26,909
Agrlcultural land held as inve5tmenl wopertles
The estimate of the value of Gle￿ land and Properties held as investments at the end of the year has been
prepared by Savills on a Desk Top valuation as at 31 December 2024.
Long temi loans
The DDBF loaned £15.(KKI to Stirling Newall Twst for Ihe installalion of a new fi￿ alami system in 2021 with an
additional loan of £10,000 being made during 2023. 80th loans are repayable in annual inslalments over 10
years interest charged al 3% annum.
Subsldlary und•rtakings
Unlisted investments are hekl al cosl and relate lo DDBPS vtholly owned subsidiary undertaknng, The Diocese
of Durham Educational Trust, a cornpany limited by guarantee (company registration number 088165271.
The Diocese of Durham Educational TnJst was incorporated in 2013 to provide the Di￿eSe with a vehicle lo
manage its education responsibilth"e5. It was a domianl company whrch acted as a corporate member for a
number of mults academy trusts, bLrt was wound up in January 2025.
Jolnt venture
The company has a joint venture limited liabilty partnership wrth Newcastle Diocesan Education Board INDEBI.
The new entity, Joint Education Team LLP. commenced trading on 1 September 2023.
47

Durham Diocesan Board of Flnance
{A ¢ompany limit¢d by guarant•e)
Notes to the financial statements
Year ended 31 December 2024
22. Debtors
2024
£000
2023
Duè after more than year
Church Buildings kjan
Church workers pension sc4wne surplus (see note 37)
Equity share loan
140
451
134
725
139
134
273
Due withln one year
Church Buildings loans
Church workers penshon scheme suryAus (see note 37)
Othèr debtors
Prepayments and ac¢n￿l incom8
257
1,408
477
615
1,095
1,368
1,780
2,505
Total
The historic cost of the equtty share loan induded in loans receivable is £16.000 {2023: £16,000).
23. Current asset investments
2024
£000
2023
£000
Short term investments
634
24. Creditors: amounts falling due within one year
2024
2023
£000
Trade creditors
Other creditors
Accruals and deferred income
166
18
1.968
2,152
315
1,216
1.534
2024
£000
2023
£000
Deferred income at 1 January
Resources deferred during the year
Amounts re￿Se￿ from p￿V￿u$ periods
1,116
1.897
{1,116)
1,897
33
1,116
133)
1,116

Durham Diocesan Board of Finance
(A Company limit￿ by guarnnto01
Notes to the financial statements
Year ended 31 December 2024
25. Cr•dltors: amounts fallirkg due aftw more than one y￿r
2024
2023
£000
Loans
49
49
Loan5 induded in (xeditors due in MO￿ than one year comprise £49.(￿ {2023." £49,000) owing lo
Church Commissioners relating to propety purchased to house dergy spouses, which becomes
repayable on sale of the property On￿ it tsjts vacant.
26. Summary 0f￿ndS
Summary of funds- current yèar
Balance at
l January
2024
Balan￿ at
31
Galnsl O•cember
(Losses)
2024
£000
£000
Transfers
inlout
£OOD
Income Exp•nditur•
DeS￿nated furKJs
General fvnds
Endowment funds
Restricted fund5
{71
{9.792)
114)
13.2791
{13,0921
5,798
56.952
11.963
74,720
7.851
1,109
3.940
12.907
1.995
12.5591
5.920
56,308
13,397
75,632
820
209
1.097
Summary of funds - prior year
Balance at
1 January
2023
Balan￿ at
31
Decembef
2023
£000
Transfers
inlout
Gainsl
{Lossesl
Ir￿?￿￿ Expendrture
DeswJnaled fvnds
General funds
Endowment fijnds
Restn'cled ftjnds
25
5.839
54.882
11.263
72,009
118}
19,6421
{231
{3.314)
112,997)
8.358
579
3.461
12.398
1,017
{9251
(921
226
2,439
645
3,310
5.798
56,952
11,963
74,720
49

Durham Diocesan Board of Finance
{A company limlt8d by guarants•)
Notes to the financial statements
Year ended 31 December 2024
Statem•nt of fvnds- Current y•ar
Balanc• at 31
Doctmb8r
2024
£0
Balancè at 1
Januwy 2024
Trnnsf•rs
Galnsl
Income Eupendlture Inlloutl ILossos1
£000
D•slgnated fvnds
8equests Fund
Unr•strict•d funds
General
Restrlcted funds
Parsonages Buildiry Fund
Dutharn Closed sd￿ls Fund
Pastoral Fund
Ministry and Pre￿dInall
Train#ig Fund
Lord Crewe's Charity
Strategic Devdoprnent FuTrJ-
Resourung Churthes
Strategic Develop￿￿nt Fund 11-
Communsties for H
Strategic De¥eiopment FuThJ111-
Transforrnlng Growth
Restru¢iurirvJ Fund. Renwal &
Reform
Misc Restricted Fund (Kthsc
Inoyne for proj&tsl
t￿rhaM Capaixty FUTr
Strategic C8paiity Grant fuThJ
Strategi¢ Ministry Fwd
Archbishops. &wThcil- Nel ZerD
Archbishops. Cwncil- Clled to
7.8S1
(9.7921
1.995
5,920
1.741
49
39
20
138
1,829
1205}
769
215
11741
9,028
146
{1741
142
142
(4671
27
1601)
{4)
173
31
12n
177
(3)
{31
429
14291
25
25
{3321
Afchtmshops. ￿￿1- BuildiNJ
for Mission
88n•fact Tru5t- Cthtivate
fvnding
Archbishops, Councl- GMThJ
Adviser fundir
Archbr6Ws' Counol- Net z
Quick Wins Grants
Archbi$hops' Counril- Net Z9ro
Carbon House DernL¥)strator
Pens￿ surplus Testiicted fund
(361
190)
13
1241
12
19
{19)
814
74
708
560
13,397
550
11.963
1761
13.2791
12
209
Endowmfj￿ fund$
Parsonages Houses FuThJ
Sts"pends Capital FuThJ
19.662
37.290
$6.952
432
67T
1,109
{31
(7691
11.7901
11559)
19,322
36,986
820
820
Totsl of fund$
74,720
12.907
{13,0921
1.097
75,fj32

Durham Diocesan Board of Finance
IA company limited by guarante81
Notes to the financial statements
Year ended 31 December 2024
27. Statemènt of funds (continued)
Bequests Fund
This fund represents the balance from an ar￿YmouS donor during 2019 whith the Board decided should
be held within a separate designated fund to support the di￿eS#n priority of'challenging Poverty,.
General fvnd
The general fvnd is avaikble for any wrpose wtthin the objecls of the Board. It is principally used for
payment of stipends, national insurance. pensKTrn contributions and housing costs of clergy and licensed
lay-workers in parish ministry. It also provides the assets and liquid4ty for the DDBF to carry out its
obj'ectives, including ststutory com￿lan￿ and administrat￿n of ftjnds.
Parstinages Buildings fund
The Parsonages Buildings furKI is held by the DDBF to pay for repairs and maintenance of parsonage
houses. This fund also hdds the not pr(Keeds from the sale of any previous parsl￿ageS which have been
ng fenced for the provision of a repla￿men1 parsonage as and when necessary.
Durham aosed S¢hcK)Is Fund
The Closed S¢hods Improvements Fund ￿preSentS the PQKded sale pr(Keeds of cbsed church schools in
the Di0￿Se in accordan￿ with Secbon 287121 of the Education Act 1993. The capital and income can be
used for the building. extension and maintenance of church sthools. The incwie alone can be spent on
the management and administration of church S(*￿ts.
Pastoral Fund
The pastoral account includes the proceeds of redundanl churche5 and parsonages and was sel up under
the provisions of the Pastoral Measure 1983. The restricted purposes for which the account may be used
-to defray costs incurred for the purposes of the Measure or any scheme or order made under the
Measure except for salaries of regular dKxesan employees
-lo make loans or grants for the pmviwon. resloratK)n. improvement or repair of churches and
parsonage houses in the DI0￿SE
-other purposes of the Diocese or any beneffice or parish in the Diocese
-to rnake grants or loans to any other Di(￿se
-lo transfer fijnds to the ditKesan stipends fund income or capital ac(%)unls.
Ministry and Preordinats"on Training Fund
This is a ￿$triCted fund set up lo provmje assistan￿ for ministy and training.
Lord Crewe's Charty Resbicled Fund
This funij provtdes support for necessitous clergy aThJ gives resources for the mission and ministry of
parishes in the most deprived parts of the Di￿eSe
Slralegic Development Fund- Resourung Churches
This national church funded project set up the first four Resourong Churches in major population centres
thin the DI￿ese, and supports training of ministy experience volunteers..
Restructuring Fund
The Church Commissioner5 awarded the Diocese a one￿ff allocation lo alk)w the DK)cese to adapt to a
reduction in funding ￿$￿Iling from tt)e replacement of Selective All￿ation by Lower Ir￿me Communities
Funding_ This funding is restricted as it must be used in line with an a9ieed plan.
51

Durham Diocesan Board of Finance
IA company limit¢d by guarante•)
Notes to the financial statements
Year ended 31 December 2024
27. Statement of funds (contlnued)
Strategic Development Fund- Gmwing Hope
Th5s national church furKJed project is to develop communit￿ of Hope. which are Christian small scale
sLKial entorprise projects in areas with hvJh leveb of social deprivation, alongsNJe further Resourung
Churches and ministy experience vdynleers.
Miscellaneous Restricted Income Fund
This restricted lund relates to grants receNed for one off SMal￿r actsvibes whth have been made
availthe for speafic reslrKted activitw ￿1h1n the D￿Se.
Durham Capacity Fund
This fijnd provides support for the Diocese throwjh the prtws of develoF4ng a transf¢ymational strategy
and missM)nal design.
SlrategK Capacity Fund- Churchplanling
Provides capacty for the administration and management of church plantiThJ within the Diocese.
tegic Ministry Fund
ProvKles support to assist wsth lunding the i>Jrat8S.
Strategic De￿lopment Fund- Tr8nsfom?ing Growlh
This national church ftJnd8d project supwts a R8sourcaThJ Churth in Darlingion church planting
activty across Ihe DNese.
chbishops. Council- GNing Adwser Fund
National church funding lo diocesan support for parishes arourKI generous giving and
stewardship.
ArchbAshops' Council- Nel Zero
Awarded towards helping the DiLwe wort towards their net zero targets.
Archbishops. Council- Called to Fruitfvlness
Increasing capacity, regeneration of parishes for mission. miss￿1 chaplaincies
Benefa¢l Tn￿- Cuftivate
Funding lo support the Diocese's 'CuhNate' church planting strategy.
Archbishops. Council- Nel Zero Quick Grants
ms lo suptM)rt churches and thur¢h halls in delNering sm811 scale net zero (arbon works in churches.
ArchbAshops' Council- Nel Zert) Cartjon House Demonstrator2024-2025
To support a route map lo enefgy effia"enGy and decarbonizalion woths adopting a clergy house project
covering ventilation and air tightsws. fabric themial efficiency and fossil ftjel free heating system.
Pension
A fund holding the pension asset arising from the closure of Ihe Church Wort(er Defined Benefit Scheme
to be offset against future stsff pension Ik4bilities.
52

Durham Diocesan Board of Finance
(A ¢ompany limited by guaran1••)
Notes to the financial statements
Year ended 31 December 2024
27. Statement of funds (continued)
Other 9rants
This restricted fund relates to grants which supp)rt a w¥Je range of prqects related lo the ft)ur Dio(%san
priorities.
Parsonage Houses Fund
The Parsonage Houses FuThl represents the value of the benefv￿ houses {parsonagesl in the Diocese
after deducting loans outstan(Jing in respect of such fv)uses.
Sbpends Capital Fund
The Stipends Capital Fund is goveme¢J by the Di(Kesan Stipends Measure 1953. The income of the fijnd
can only be used for clergy sb"pends buL &nce 1993. ￿pital can be applied for improvements lo
PaTSonage hwses.
Transfèrs betwe•n funds
Further detsib are given in nole 30.
53

Durham Dlocesan Board of Finance
IA company Ilmhed by guaranleo)
Notes to the financial statements
Year ended 31 December 2024
27. Statement of fvnds (¢ontlnued)
Statemont of fisnd$- wior year
8alane• at
31
Trnnsf•r¥
Galnsl D•cembor
inlout ILoss0$1
2023
£000
Balanu at
1 January
2023 Incom• EX￿￿lIu￿
£000
Deslgnated funds
Bequests Fund
Unr85tr1cted funds
General
Restrictsd frjnds
Parsonages Building Fund
Durham Closed sChTh￿S FuThJ
Pastoral Fund
Ministry and Preordination
Traini￿ Fu￿1
Lord Crew8's Charity
Strategi¢ Devebpment Fund-
ReSourcW￿ Churches
RestnthrirwJ Fund- Renew* &
Refo
Strategic Devebpment Fund11-
Comrnunities for Hope
Misc Restricted Fund (Misc
Income for projects)
Durham Capacity Fund
IRestricted}
Strategic Capaiity Gfanl frjnd
Strategic Ministry Fund
Strategic tlevekjpment Fund-
Transfrmtion GrovAh
Arthbishcp5' Coun(il- GNiThJ
Adviser
rchbish￿s. Couniyl- Nel Zwo
Archbishops, Couni71- Calkd to
FrurtfuI￿sS
Be￿fact Twusl- Cullwate fvrtd￿g
Other
25
(181
5.839
8.358
19,6421
1.017
226
5,798
2,042
14671
357
112
1.741
1,030
8,080
61
227
1101
11911
{307}
7.052
104
349
146
172
353
13831
16171
142
615
27
63
(58)
663
16641
52
(44)
173
(2(X)}
153)
1&331
12971
131
53
333
297
115)
25
49
1491
157}
113
13.3141
43
550
11,963
16221
1921
51
645
11.263
3.461
Endowm?nt fund$
Parsonages Houses Fw
Sb"pends capit￿ Fund
19,674
35,208
15)
1181
1231
12521
16731
19251
245
2,194
2,439
19,662
37.290
56,952
579
579
Total of funds
72.rm
12.398
{12.997)
13,3101
74,720

Durham Diocesan Board of Finance
(A company limit•d by guarant80)
Notes to the financial statements
Year ended 31 December 2024
28. Total r•tum on inv•slment
Total
Trust for
Unapplled
Stipènd
Investrnent total retum Capltal fund
2024
2024
2024
£000
As at 1 January 2024
Moveménts in year
Ajlocation lo trust for investrnent
Investment ￿turn.. dividends and interest
Investment return: gains on sale of pror
Investment retum: realised and unrealised
gains and Ik>ssesl
Addrtion of capital
Less.. costs of maintaning proper
11.372
25,918
37,290
18541
854
587
587
90
820
820
111)
2,340
{1,7901
550
26,468
111}
1.486
{1.7901
(304)
36,986
(8541
Unapplied total r8tum allocated lo income
Net movement in the year
As at 31 December 2024
{8541
10.518
On 1 December 2022 the Trustees agreed to adopl a total retum approach lo arxounting for the stipend
capital endowments of the Diocese. The fvll delaib of p￿icIeS adopted are set out in the accounting
policies in note 1. The dale of adoption for the purw)ses of calculating the original value of the Trust for
investment was 1 January 1997, with all a¢JditK)nal gifts since that dale added and inflation induded to
arrive al the value of the Trust investment as al 1 January 2023.
On 31 December 2024 a proportion of the resulb'ng unapplied totsl retum was allocated to income for
the year. as shown above.
55

Durham Diocesan Board of Flnance
(A company Ilmited by guarantee)
Notes to the financial ststements
Year ended 31 December 2024
29. Analysls of net ass•ts ￿tween funds
Analy$ls of net •ssats b•twtsn funds . Current year
Unf￿1cted Restrlct•d Endowm•nt
funds
funds
funds
2024
2024
2024
£000
£000
Total
funds
2024
£000
Tangible fixed assets
Fixed asset investments
Debtors due after more than one year
Current assets
Creditors due within one year
Creditors due in more than one y￿r
1.666
9.176
133
3.621
(1.199)
32.386
23,572
36.017
37.034
725
4,057
(2.1521
149)
4.286
591
(953)
(49)
Total
5.927
13.397
56,308
75,632
Analysls of net assets between funds - prlor year
Unrestricted ReslrKted ErKlowment
funds
fund5
fijnds
2023
2023
2023
£000
Total
funds
2023
Tangible fixed assets
Fixed asset investments
Debtors due after more than one y
Current assets
Creditors due within one year
Creditors due in more than one year
1.895
2.979
142
1.140
(351)
1.627
9.067
131
2.320
(1.1821
32.236
24,766
35.758
36,812
273
3,460
(1,5341
1491
(1}
149)
Total
5,805
11.963
56.952
74,720

Durham Diocesan Board of Finance
IA company Ilmited by guarantee}
Notes to the financial statements
Year ended 31 December 2024
Anatysls of significant transfers between funds
Analysls of significant transfe￿ between funds- currenl year
Unrestrict•d Restricted Endowment
funds
funds
funds
2024
2024
2024
£000
£000
Total
funds
2024
£000
Transfer of Parsonage Houses to Pastoral
Account
Transfer of restricted Cknsed School fvnd to
unrestn.cted
Total Return Iransf8r from Stipends Capital
769
17691
205
{205)
1.7
(1,7901
Total
1,995
12,5591
Anatysls of slgnlfiwit transfe￿ between funds- prior year
Unrestricled
lunds
2023
Reslricted Endowment
fun¢J5
funds
2023
2023
£000
£000
Total
fvnds
2023
£000
Transfer of Parsonage Houses to General
Transfer of PaT50nage Houses to Pastml
Account
Release of Escomb Parsonage Building Fund
to Parsonage Houses
Transfer to Parsonage HLNJses Fund to
purthase land at St Peterfs Vicarage
Transfer from Parsonage Building Fund to
Sts"pend Capital Fund
Total Retum transfer from Stipends Capital
Dividend release
76
(76)
542
15421
(3461
346
(20)
20
196>
769
172
1769}
1172)
Total
1.017
1921
{9251
57

Durham Diocesan Board of Flnance
(A company limited by guarantee)
Notes to the financial statements
Year ended 31 December 2024
Analys15 of $lgnlflcant transf•rs between fvnds Icontlnu•d)
Transfers from end¢)wment funds of £769k represent transfeF5 Irom the Parsonage Houses fund to
unrestri¢tad and restricted funds follwng the sale of certain prOpe￿eS. ac£ording to the tern￿ imposed on Iho
endowed asset.
Transfer of £205k from the restricted Durham cbsed schoL4s lurKI to unrestricted funds were made to fund
educational spend, in line with the tem￿ of the reStrKttI￿.
In addition a transfer of £1.790.OIXI has been made from endovment funds lo unrestricted funds representing
the allocation of unapplied totsl retums (see note 28).
31. Roconclllatlon of net movement In funds to net cash fl¢>w from operatlng adlvlt16S
2024
£000
912
2023
£000
2.711
Net inLY)me for the year las per Statement of Financial Activities)
Adjustment5 for.
Depreciation charges
Gains on investments
Dividends. interests and rents from investrnents
Incxease in debtors
Increase in creditors
Profit on sale of fix￿1 assets
45
{3.3101
11.0361
12881
1,129
{2411
{1.09n
{1,0961
11,1381
618
1543)
Net cash used In operatln9 actsvities
{2,3011
19901
32. Analysi$ of cash and ¢ash equlva￿nts
2024
£000
2023
£000
Cash in han(J
Noti￿ deposts {less than 3 months)
Total cash and ush equivalents
1,171
1,106
2,277
1,731
634
2,365

Durham Diocesan Board of Finance
{A Company Ilmlt•d by guaranteel
Notes to the financial statements
Year ended 31 December 2024
33. Analysls of chang¢$ in net debt
At1
January
2024 Cash flows
£000
£000
At31
December
2024
£000
Cash at bank and in hand
Debt due after 1 year
Lkiuid investments
1.731
149)
634
2.316
(625)
1.106
149)
1,171
2,228
537
{88)
Operating leas• commitments
At 31 December 2024 the Charitab￿ company had commitments to make future minimum lease
payments under nonwcan￿lIa￿e operalirrfJ leases as follo￿..
2024
£000
2023
£000
Not later than 1 year
Later than 1 year and not tater than 5 year5
10
35.
Pensions
The DBF paflicipales in tsvo pension schemes administered by the Church of England PensFons Board,
which holds the assets ol Ihe s¢hemes separately from those of the DBF and the other participating
employers. Ofte of these is the Church of England Funded Pensions Scheme for slipendiary clergy.
The other 15 the Church Workers Pensions Fund for lay staff.
Church of England Fund•d Pensions S¢h•m¢
Each p￿￿¢1pating Responsible Body in the Church of EngL4nd Funded Pensions Scheme pays
contributions at a ￿mmOn contribubon rale apPl￿d to pensionab￿ stipends.
The scheme is corksidered to be a multi*mployer scheme as describefj in secb.on 28 of FRS 102. 11 is
not possitAg lo altribute the Scheme's assets and liabilities to each specffic Responsible Body, and this
means contributions are accounted for as rf the Scheme were a defined contribution scheme. The
pensions costs charged to the SOFA irs the year are contribubons payable towards benefits and
expenses accrued in that year. which were £853.000 in 2024 (2023.- £952.OOOJ. plus any figures arising
from ¢ontributions in respect of the Scheme's deficit (see bek)wl. The 2021 valu8lion showed the
Scheme lo be fully funded and as such in 2024, fdlowir¥J the valuation results being agreed, the defKil
contributions paid were £nil f2023.' Enil).
A valuation of the Scheme is carried out once every three years. The most re￿nt Scheme valuation
completed was carried out at as 31 December 2021. The 2021 valuation revealed a surplus of £560m,
based on assets of £2.720m and a furmjing target of £2.160m. assesse(J using the following
assumptions..
59

Durham Diocesan Board of Finance
(A company limited by guarant￿)
Notes to the financial statements
Year ended 31 December 2024
35. Pensions {contlnuedl
An average disujunt rate of 2.7% p.a..
RPI Inflat￿ of 3.6% p.a. land pension increases LX)nsistent wtih this}:
CPIH inflation in line with RPI kn 0.8% pre 2030 moving to RPI with rn 8tljuslment from 2030
e￿wardS.
Increase in pensionable stipends in line with CPIH"
Mortality in accordance with 90% of the S3NA tsbles. Y￿h allowance for improvements in mortality
rates in line with Ihe CM12020 extended m(xJel wilh a loThJ temi annijal rate of improvement of 1.50/ts,
a smwthing parameter of 7. an inrtial addilK)n to [r￿rtalitY improvements of 0.5°h pa and an
allowance for 2020 data of 0% li.e. w2020= 0%).
Followng finalisalion of the 31 December 2021 valuation. ￿er￿li contributions c£ased with effect from 1
January 2023. since the Scheme was lulty fundwj.
Church w0￿ets Pension Fund
DDBF part￿Pate$ in the Oefined Benèffts Scheme section of CWPF for lay stsff. which is now closed to
future accrual. The Scheme is a¢Jminislered by the Church ol England Pensw)ns Board. which holds the
assets of the scheme separately from Ihose of the Employer and the other participating employers.
CWPF has fvvo sections".
the Defined Beneffts Scheme
the Pension Builder Scheme. Wh￿ has sub$￿tKInS..
a deferred annuty section known as Pension Builder Classic, and
a cash balance section known as Pension Builder 2014.
D¢fin¥d B¢n•ffts Scheme
The Defined Benefits Scheme I"DBS"I section of the Church wc￿kerS Pens￿ Fund provKles benefits
for lay staff based on final pensionable salaries.
For funding purposes, OBS is diwded into Sub-p(￿ in re$￿t of eath partirypating employer as well as
further sutrTrwol. known as the Life Risk Pool. The Lrfe Risk Pool exists to share certain risks be￿een
employers, irKJuding Ihose relating to mortality and post¥rekn"remenl investrnent r&tums.
The division of the DBS into sul>p(KJls is nolK)nal is for the purpose of calcul8bng ongoing
contribulions. This does not alter the fact that the assets of the DBS are held as a single trust fund out of
which 811 the benefts are lo be provided. From lime lo time. a Th)lional premium is transferred from
employers, sutrTrpwls lo the Lrfe Risk Pcd and
nsK)n5 and death b&nefits are paid from the Life
Risk Pool.
If, followng an acluarial valualKJn of the Lrfe Risk Pr￿￿. there is a SLsrplus or deficit in the pool, further
transfers may be made from the Lrfe Risk Pool to thè employers. SU￿poOls, or VI￿ versa. The am¢Nnls
lo be transferred land their allocation belween the sUb-F￿h$) will b8 settlad by Ihe Church of England
Pensions Board having taken ad￿ from the A¢tuary.
A valuation of DBS is carried out On￿ every three years. At the most r￿nt valuation al 31 December
2022 there was a surplus of£73.6m_
The next actuarial valuation is due at 31 December 2025.
60

Durham Diocesan Board of Finance
IA company limit•d by guarantee}
Notes to the financial statements
Year ended 31 December 2024
35. Penslons {¢ontlnufjd)
Since 31 December 2023. the Board has entered into a full bLry4n agr8ement with Aviva to insure all
accrued benefrts within the DBS of the CWPF.
The Church of EnglarKI PensK)ns Board agreed that def￿rt contributions should cease with effect from
31 December 2022 for eM￿0yerS whose pools wete e5ts"mated to be materially in surplus. As a result,
there is no obligalK)n rȢognised as a liats.lrty wthin the Employerfs ffinancial stslements as at 31
December 2023 or 31 De￿mber 2024.
Pension Builder Schème
Both sections of the Pension BuildeT Sc￿le are dassed as defined benefit schemes.
Pension Bullder Classic provides a pension. ac(yJmulated from contributions paid and converted into a
deferred annuity during employmenl based on terms set and rev￿ed by the Church of England
Pensions Board fr¢)m time to b'me. Discretionary increases may also be added. depeThJing on investment
relums and other factors.
Penslon Builder 2014 is a cash balance scheme Ihat provrd&s a rump Sum which members use to
provide benefits at retirement. Pension contn"butions are ￿COr¢Yed in an account for each memb9r.
Discrelv)nary bonuses may be added before retirernenL depending on investsnent retums and other
factors. The ￿cOUnt. plus any bonuses declared is payable, unreduced, from age 65.
There is no sulHJivision of assets between employers in each section of the PenS￿n Buikler Scheme.
The scheme is constdered to be a mUlt￿emploYer stheme as described in Section 28 of FRS 102. This
is because il is not y)ssiblg to attribule the Pension Builder Scheme's assets and liabilities to specrfic
employer5 and means that contributions a￿ accounted for as rf the Scheme were a defined contribution
scheme. The pension costs charged lo the SOFA in the year are the contributions payable 2024.. £300k
(2023." £219kJ.
A valuation of the Pension Builder Scheme 15 carried out once every three years. The most recent
valuation was canied out as at 31 December 2022.
For the Pension Builder Classic sèction, th& valuation ￿vealed a surplus of £34.8m on the ongoing
assumptions used. At the most recent annual rewew effeth.ve 1 January 2025. the Board chose lo grant
a discretionary bonus of 6.7% to both pensions not yet in payment and pensions in payment in respecl of
service prior lo April 1997," and a t)onus on pensions in payment in respect of post April 2006 service so
that the pension irtcrease was 2.7% (Whe￿ usualty it would be calculated based on inflation up to 2.50/&}.
This followed improvemenls in Ihe ful￿1ng position over 2024. There is no requirement for deficit
payments at the current lime.
The next valuation is due as al 31 De(￿ber 2025.
For the Pension Builder 2014 seclK)n. the valuation revealed a surplus of £8.5m on the ongoing
assumptions used. There is no requirement for defiat payments at the current time.
The legal structure of the scheme is such that rf another empkjyer fails. DDBF couhj becLJme ￿sPOnSible
for paying a share of the failed empkjyef's pension liabilities.
61

Durham Diocesan Board of Finance
(A company limitsd by guarantee)
Notes to the financlal statements
Year ended 31 December 2024
Custodian lund$
The Board act as custodian tsuslee responsibb for trust fvnds held on behaw of others. Th& movem&nt
on these funds during the year Is set out belovr.
2024
£000
2023
£0
Balance al 1 January
Funds recewj
Payments made
RevalualK)n of investments
13.578
834
{1.0131
132
12,763
577
{5441
782
Balance at 31 December
13,531
13.578
The funds held by the DDBF as cust￿lian trustees c(Mnprise deposrts 8rTrd investments. The funds are
held on behalf of the PCCS within the Diocese. in separate bank and investmeni funds.
37. Continynt ass•t
During Ihe pri(Y year, the Church of Eng18nd Pensions Board indicated that they intended lo close the
Church WoTkeT5 Define(l Benefrt Scheme to fLrture accrual. Thts led to the DDBF takin9 the decision in
December 2023 to transf&r all employees who were members of this scheme to the Pension Builder
Classic stheme as of 31 January 2024. The Pen5tons Board indicaled Ihat the ODBF'S section of the
Church Workers Defined 8enefit Scheme was in an asset position on dosure. During 2024, the Pensions
Board confimied usable assets attributed to the DDBF of £814k. which have been recognised as income
in the year and shown as debtors to be dTrwn down against future pension liabilities. There is a
¥)ssibility of further assets being attn"buted lo the DDBF once final scheme liabilrties have been setuod.
bul this arnwnt cannot yet be acc#Jrdlely q￿antrr￿.
Related party transactlons
As set out in note 21. the DNKese 15 8 member of j￿nI Educatit￿ Team LLP, a joint venture with
Newcastle D￿Ce$an Educa1ion Board in whith il has a 50Yo Stake. DurirKJ the year to December 2024
the DDBF contn"buted £120.000 f2023.. £nil) to the running costs of this entity. At the year end £36.664
12023 £56,664) is included in debtors owing from JET LLP.
62