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2022-12-31-accounts

TABLE TABLE OF CONTENTS PAGE NUMBER
Foreword 3-4
Legal Objects
Strategic Report:
Strategic Aims
Activities, Achievements in the year &Future Plans 7-9
Financial
review		 11-14
Strategic risks and uncertainties 15-16
Structure
and Governance		 17-18
Trustees'
Responsibilities		 19-20
Administrative
details		 21-22
Independent
Auditor's		 Report 23-25
Statement ofFinancial Activities 26
Balance Sheet 27
Cash Flow Statement 28
Notes to the Financial Statements 29-57

Value at31 /o of 2022Total 2021Total
Dec 2022 portfolio Return Return
CCLA f'000
Investment Fund 20,046 67.2/o (9.2/o) 17.40/o
Property Fund 1,423 4.8/o (7.8/o) 19.70/o
Deposit Fund 8,346 28.0/o 1.3o/o 0.05/o
Total 29,815 100.0/o
Risk Strategic Overview
Growth' &Sustainability Acontinued
reduction
in numbers ofthose involved
in our Diocese will
Continued decline
in		 the adversely
impact
all areas of risk e.g. numbers
of clergy
in parishes,
numbers of in those involved in, laity
directly
involved
in
mission,
macro/micro
economic
factors,
or supporting, the church in any 'relevance'
due to controversies/
debates at national
level, diocesan
capacity finance
due to fewer
and
less generous
givers,
volunteers
needing
training
such as safeguarding.
As we look forward
it is vital that we continue to discern and invest
in
sustainable
models ofministry
and mission that will intentionally
seek
to address this decline. Accessing national strategic mission &ministry
investment
funding,
working with our new Diocesan bishop from 2023
to discern a new mission
strategy,
and continuing
to invest
in clergy
and
parishes
to
help
them
grow
their
ministry
must
remain
a
fundamental
priority.
Safeguarding: The Diocese has a Safeguarding
Board that is independently
chaired
Child,
ad&&lt		 at ~isl', or domestic and
draws
in
senior
officers
from
statutory
agencies,
law
and
abuse education
as well as the
Diocesan
Secretary
and the Dean of the
There
is		 an occurrence of child, Cathedral.
The Board
is responsible
for developing
Safeguarding
adult at risk, or domestic abuse Strategy and an action plan of improvement.
The Board is supported
by someone working for or on by a Casework
Subcommittee
(independently
chaired).
The Board
behalf of the Church (in a parish promotes
best practice and continuously
ensures that the Diocese is
or parish-based organisation orat adopting
and
developing
appropriate
policy
and
practice.
One
the Diocesan Office) safeguarding
incident
was reported
to the Charity
Commissioners
in
2022.
Non'Current Cases
It comes to light that there were A Safeguarding
team,
led
by
a
highly
qualified
and
experienced
instances of abuse in the past Safeguarding
Manager,
promotes
best
practice,
supports
those
which
were		 not appropriately making
disclosures
and
manages
offenders
and
those
under
dealt with by the Clergy/Diocese investigation.
ln 2022 the Diocese undertook
further
work to review the records it
holds as part ofits continuing
work to review non-current
cases as part
of the national
Past Case Review 2 process. No significant
concerns
were identified.
Risk Strategic Overview
Financial: The
Diocesan
Board of Finance
(DBF) is supported
by a Finance
I rrrrce~~alr
I~oirr(I of I lnalrce		 Committee
which regularly
reviews its reserves position and cash flow
A
serious
loss		 of income, projections
on a quarterly
basis to ensure
any unexpected
losses
in
investment
market		 crash, income can be covered whilst remedial
actions are undertaken.
unforeseen
major		 expense, fraud,
and theft are all potential serious The
DBF
issues
comprehensive
Financial
Standing
Instructions
financial
incidents		 for the Board. identifying
levels
of delegation,
responsibility,
and
accountability.
These are currently
being reviewed to ensure they remain current and
appropriate.
Appropriate
measures are in place to ensure that financial transactions
require
two signatures
and property
purchases
and major contracts
also
require
two
director
signatures
in
addition
to the
Diocesan
Clrstodlan
rrus'tee		 Secretary
gr Chief Operating
Officer. The DBFensures against its most
A parish enters major significant
serious
incidents
and
all insurance
policies are reviewed
expenditure
without		 sufficient annually.
resources, experiences fraud, has
major unforeseen building or The DBF offers some advice and support
to parishes
embarking
on
staffing issues requiring major projects or areas ofexpenditure,
assisting them
in assessing
risk
significant
expenditure.		 and appropriate
mitigations
and
will monitor
parish
accounts,
with
deanery assistance, to be alert to any needs and problems
arising.
People: The WDBF is responsible
for a wide range ofspecialisms
and different
Employment disciplines
operating
in an unusual
legal and compliance
framework.
Significant staff turnover, staff Each area
requires
a high
level of expertise
and
experience.
This
without appropriate represents
an ongoing organisational
challenge,
as we seek to recruit
qualifications
and skills		 mix for people with relevant experience
whilst also managing
expenditure
on
evolving needs ofthe DBF and employed
posts. The DBF has been building
up a pool ofconsultants,
wider Diocese. partners
and colleagues across the wider Church of England
who can
provide some level ofcover ifand when required.
Appointments
The
Diocese
fails		 to make the Investment
and improvement
in appointment
processes have been a
right
appointments		 to parishes priority
for the
DBF over the recent years.
More use
is made of
and
senior
positions		 within the targeted
testing
and assessment,
both prior to and during
the early
Diocese. stages ofa new employee's
appointment.
Whilst these processes can
assist and
improve
appointment
processes,
the Directors
recognise
that many diocesan and parish appointments
do not fall under secular
employment
legislation
and
are therefore
risks
which
cannot
be
mitigated
entirely.
Reputation The Diocese cannot
prevent
all possible
serious
incidents
across all
A serious incident causes adverse parts ofthe organisation.
Ifa serious incident should arise the Diocese
publicity
and a loss		 of confidence has a policy ofopen and transparent
communication,
supported
by a
in the Diocese. communications
team and national
Church colleagues.
The Diocese
works closely with statutory
agencies and will always report serious
incidents
to the Charity
Commissioners.
No serious
incidents
were
reported to the Charity Commissioners
during 2022.

Trustees
No Trustee
had any beneficial		 interest in the company
during
2022. The following		 are the Trustees who
served at any time during 2022 up to the date of this report:
Chair: Timothy
Dakin BA, MTh, PhD - Bishop ofWinchester
(retired
06.02.2022)
Interim Chair: Alastair Barron BA (Hons), MBA, FSyl (resigned 01.05.2023)
lan Dighe (appointed 01.05.2023)
Exofficio: Andrew
Micklefield
BEd (Hons) - Chair ofthe		 House ofClergy
Alastair
Barron
BA (Hans),
MBA, FSyl —Chair of the House		 of Laity
(from 01.01.2022)
Synod House ofClergy: Timothy Matthews
(from 01.01.2022)
Rachel Noel (from 01.01.2022)
Synod House ofLaity: Alison Coulter
MA, MSc, MFPH (from 01.01.2022)
Esther Clift BSc(Hons), MSc, MCSP
Ian Newman
Gillian Gray Knight (from 01.01.2022)
Co-opted: Deborah
Sellin (from 27.01.2022)
David Williams
(from 27.01.2022)
Richard Brand (from 27.01.2022)
Catherine
Ogle (from 27.01.2022)
Elspeth Mackeggie Gurney (from 10.10.2022)
Senior Staff and Advisers:
Company Secretary: Lisa Streeter (resigned 31.03.2022)
Company Secretary: Colin Harbidge
(from 01.04.2022)
Interim
Diocesan Secretary:		 Colin Harbidge
BA (Hons), PGDip, MCMI (from 01.04.2022)
Director of Finance: Lisa Streeter FCCA, MBA (resigned 07.11.2022)
Director of Education: Jeff Williams
MA, DPhil
Directory of Ministry: Mark Collinson
BSc,MA
Director of Human
Resources:		 Susan Beckett, FCIPD
Director ofStrategic Development: Mark Lowman
BSc,MBA, PhD, FHEA (resigned		 30.06.2022)

Unrestricted Unrestricted funds Restricted Kndovvment Total Total
General Designated Funds Funds 2022 2021
Note E'000 E'000 E'000 E'000 E'000 E'000
Income and endowments from:
Donations
Parishes 2 8,524 8,524 8,540
Archbishops'
Council		 2 192 1,271 1,463 1,623
Other 2 154 4 158 227
2 8,869 1,275 10,145 10,390
Charitable
activities		 3 680 42 722 1,906
Other trading
activities		 4 1,073 31 1,104 1,109
Investments 5 425 455 28 930 760
Other 6 187 187 669
Total 11,234 22 1,804 28 13,088 14,834
fxpenditure
on:
Raising funds 7 (14) (14) (20)
Charitable
activities		 8 {11,025) (105} (1,817) (20) (12,966) (13,849)
Other 9
Total (11,039) (105 (1,817) (20) (12,980) (13,869)
Net income/(expenditure) before investment
gains 196 (83) (13) 8 107 965
Net gains on investments (406) (77) (1,018) (1,299) (2,799) 2,946
Net income/(expenditure) (210) (159) (1,031) (1,291} (2,692) 3,911
Transfers between
funds		 15 138) 122
Net (expenditure)/income after transfers {195) (297) (909) (1,291) (2,692) 3,911
Other recognised gains/{losses}
Gains on revaluation
of		 fixed tangible 2,241 2,241 16,310
Remeasurement
ofpension scheme
provision		 12 90 102 383
Net movement
in funds		 (183) (297) (909) 1,040 {349) 20,603
Total Funds at1January 2022 38,411 1,746 11,671 126,989 178,817 158,213
Total funds at 31December 2022 18 38,227 1,449 10.762 128,028 178,467 178,816

Note Dec 2022 Dec2021
f'000 E'000
FIXED ASSETS
Ta n gib Ie assets 146,981 147,999
Investments 12 22,612 25,449
169I593 173,448
CURRENT ASSETS
Debtors 13 2,710 1,723
Cash on deposit 8,346 5,346
Cash at bank and in hand 1,124 1,908
12,180 8,977
CREDITORS: amounts falling due within one year 14 (1,318) (771)
NET CURRENT ASSETS 10,862 8,206
Total assets less current liabilities 180,455 181,654
CREDITORS: Amounts falling due after more than one year 15 (1,987) (2,479)
Pension scheme liabilities 20 (358)
NET ASSETS 178,467 178,817
FUNDS
Unrestricted
income funds:
Genera
I funds		 38,227 38,411
Designated
funds		 1,449 1,746
39,677 40,157
Restricted funds 10,762 11,671
Endowment
funds		 128,028 126,989
TOTAL FUNDS 18 178,467 178,817

2022 2022 2021 2021
f,000 f,000 f,000 f,000
Cash flows from operating activities
Net cash (used in) operating activities (2,079) (438)
Cash flows from investing activities
Dividends,
interest and rent		 from investments 930 760
Purchase of property
and equipment		 (1,546)
Purchase ofinvestments (1,000)
Sale of property
and equipment		 4,956 5,078
Sale ofinvestments 73
Net cash provided
by investing
activities		 4,413 4,838
Cash flows from financing activities
Repayments
oflending		 268 235
Repayments
ofborrowing		 (131) (356)
Cash outflows from new lending (256) (520)
Net cash (used in) financing activities (118) (641)
Change in cash and cash equivalents
in		 the reporting period 2,216 3,759
Cash and cash equivalents
at 1January		 7,254 3,495
Cash and cash equivalents
at31December		 9,470 7,254
Reconciliation ofnet income to net cash flow from o eratin activities
Net income forthe reporting
period (as per Statement		 ofFinancial Activities) (2,692) 3,911
Adjustments
for:
Revaluation
(Gains) on Investments		 2,799 (2,946)
Dividends,
interest and rent		 from investments (930) (760)
(Profit) on sale offunctional assets (187) (662)
Decrease/(Increase)
in debtors		 (987) 207
(Decrease) in creditors (83) (188)
Net cash (used in) operating activities (2,079) ~(459
Anal sis ofcash and cash e uivalents
Cash on deposit 8,346 5,346
Cash at bank and in hand 1,124 1,908
9,470 7.254

Parish C ontributions
Unrestricted Funds Restricted Endowment Total
General Designated Funds Funds 2022
f'000 f'000 f'000 f'000 f'000
Current Year Apportionment 9,629 9,629
Shortfall in Contributions (1,134) (1,134)
8,495 8,495
Receipts for previous years 28 28
8,524 8,524
Unrestricted Funds Restricted Endowment Total
General Designated Funds Funds 2021
f'000 f'000 f'000 f'000 f'000
Current YearApportionment 9,375 9,375
Shortfall in Contributions (859) (859)
8,526 8,516
Receipts forprevious years 24 24
8,540 8,540

Archbisho ps'
Council
Unrestricted Funds Restricted Endowment Total
General Designated Funds Funds 2022
f'000 f'000 f'000 f'000 f'000
Strategic Development grant 527 527
Ordinand Training grant 192 744 936
192 1.271 1,463
Unrestricted Funds Restricted Endowment Total
General
f'000		 Designated
f'000		 Funds
f'000		 Funds
f'000		 2022
f'000
Strategic Development grant 2,095 2,095
Ordinand Training grant 528 528
2,623 2,623

Unrestricted Unrestricted Funds Restricted Endowment Total
General Designated Funds Funds 2022
f'000 f'000 f'000 f'000 f'000
All Churches Trust 138 138
Donations 16 20
154 158
Unrestricted Funds Restricted Endowment Total
General
f'000		 Designated
f'000		 Funds
f'000		 Funds
f'000		 2021
f'000
All Churches Trust 135 26 161
Donations 63 3 66
19S 29 227

Unrestricted Funds Restricted Endowment Total
General Designated Funds Funds 2022
f'000 f'000 f'000 f'000 f'000
Statutory fees 484 484
Costs Recharged 92 92
Insurance Claims and Property Income 89 89
Development Project Income 10 10
Miscellaneous income 32 47
680 42 722
Unrestricted Funds Restricted Endowment Total
General
f'000		 Designated
f'000		 Funds
f'000		 Funds
f'000		 2021
f'000
Statutory fees 445 445
Costs Recharged 124 124
Insurance
Claims and Property Income		 99 99
Development Project Income 1,161 1,161
Miscellaneous income 27 40 10 77
695 1,201 10

Unrestricted Funds Restricted Endowment Total
General Designated Funds Funds 2022
f'000 f'000 f'000 f'000 f'000
Rental income on functional property 1,013 31 1,044
Other income 60 60
1,073 1,104
Unrestricted Funds Restricted Endowment Total
General Designated Funds Funds 2021
f'OOO f'000 f'OOO f'000 f'000
Rentalincome onfunctional property 1,025 1,057
Otherincome 52 52
1,077 1,109

Unrestricted Unrestricted Funds Restricted Endowment Total
General Designated Funds Funds 2022
f'000 f'000 f'000 f'000 f'000
Dividends receivable 239 21 437 28 724
interest receivable 107 1 18 0 127
Rents receivable 79 79
425 22 28 930
Unrestricted Funds Restricted Endowment Total
General Designated Funds Funds 2021
f'000 f'000 f'000 f'OOO f'000
Dividends receivable 204 20 425 27 676
interest receivable 21 21
Rents receivable 63 63
20 425 27 760

6.OTHER I NCOME
Unrestricted Funds Restricted Endowment Total
General Designated Funds Funds 2022
f'000 f'000 f'000 f'000 f'000
Gains on fixed asset disposals 187 187
Coronavirus Job Retention Scheme
187 187
Unrestricted Funds Restricted Endowment Total
General Designated Funds Funds 2021
f'000 f'000 f'000 E'000 E'000
Gains onfixed asset disposols 358 662
Coronavirus Job Retention Scheme 7
311 358 669

Unrestricted Unrestricted Funds Restricted Endowment Total
General Designated Funds Funds 2022
f'000 f'000 f'000 f'000 f'000
Glebe agent's fee 14
14 14
Unrestricted Funds Restricted Endowment Total
General
f'000		 Designated
OOOO		 Funds
f'000		 Funds
E'000		 2021
f'000
Glebe agent's fee 20 20
20 20

Unrestricted Funds Restricted Endowment Total
General Designated Funds Funds 2022
f'000 f'000 f'000 f'000 f'000
Contributions
to Archbisho		 s' Council
Training for ministry 366 366
National
Church Responsibilities		 224 224
Grants and provisions 31 31
Mission Agency Pension Costs 15 15
Retired clergy housing costs 139 139
Pooling of ordinands' maintenance grant costs (90) (90)
546 139 685
Resourcin
Minist		 and Mission
Stipends and national insurance 3,876 45 3,921
Pension contributions 1,141 1,141
Housing costs 1,921 4 1,928
Removal, resettlement and other grants 449 454 903
RME Training for ministry 247 374 621
Other expenses 70 0 71
7,704 49 832 8,585
Support for parish ministry 872 836 1,708
Lay pension deficit provision 0
Governance 1,564 55 10 20 1,650
10,140 105 1,678 20 11,943
Ex enditure on Education
Support for church schools and parishes 339 339
11,025 105 1,817 20 12,966

Anal
sis ofGovernance		 Costs 2022 2021
f'000 f'000
CentralSupport 831 534
Finance (incl. auditor fees) 318 237
HR 256 341
Diocesan Office 147 398
Registrar Costs 98 117
1,650 1,627

8.CHARITABLE AC TIVI TIES EXPENDITURE (co ntinued) ntinued)
Unrestricted Funds Restricted Endowment Total
General Designated Funds Funds 2021
E'000 E'000 f'000 E'000 E'000
Contributions
toArchbisho		 s' Council
Training for ministry 366 366
National Church Responsibilities 256 256
Grants and provisions 69 110 179
Mission Agency Pension Costs 16 16
Retired clergy housing costs 140 140
Pooling ofordinands'maintenance grant costs (118) 118)
589 250
Resourcin
Minist
and Mission
Stipends and nationalinsurance 3,721 265 222 4,208
Pension contributions 1,125 14 33 1,172
Housing costs 1,353 24 1.377
Removal, resettlement and other grants 229 8 5 242
RME Training for ministry 289 434 723
Other expenses 322 12 334
7,039 311 706 8,056
Support forparish ministry 1,026 28 1,927 2,981
Lay pension deficit provision
Governance 1,3S8 222 1,627
9,453 561 2,650 12,664
Ex enditure on Education
Support forchurch schools and parishes 345
10,3S7 561 2,900 13,848
Anal sisof Ex enditure-2022
Activities Grant Support Total
Undertaken Funding of Costs 2022
Directly Activities
f'000 f'000 f'000 f'000
~Raisin
funds
investment
management		 costs 14 14
Direct Fundraising
Conference
Centre
Charitable
Activities
Contributions
to Archbishop's		 Council 685 685
Resourcing
ministry		 and mission 9,441 794 1,708 11,943
Education 339 339
9,794 1,479 1,708 12,9&0

Anal siso
Ex enditure-2021		 Anal siso
Ex enditure-2021
Activities Grant Support Total
Undertaken Funding of Costs 2021
Directly Activities
E'000 E.'000 E'000
~Raisin
ands
investment
management		 costs 20
Direct Fundraising
Conference Centre
Charitable Activities
Contributions
toArchbishop's		 Council 808 808
Resourcing
ministry ond mission		 8,114 483 4,099 12,696
Education 345 345
8,479 1,291 4,099 13,869
Anal
sis ofGrants Fundin
Total
Individuals Institutions 2022
No. K'000 t'000 f'000
From unrestricted
funds for national		 church res onsibilities
Archbishops'
Council (note 8)		 685
From unrestricted
funds
Clergy fortraining
&welfare		 2 7 7
First Appointment,
Resettlement		 and removal 46 270 270
Ordinands'
training,
receiving maintenance		 28 314 314
Grant to Parish for building costs 1 138 138
RME Ordinands
in training		 2 25 26
Ql costs reimbursed
to Parishes		 51 35 35
Total from unrestricted
funds		 130 591 198 789
From restricted funds for various ur oses
Clergy fortraining
&welfare		 14 29 29
Hardship
grants to clergy		 106 106 106
Ordinands'
training,
receiving maintenance		 1 1 1
Energy Grants to Parishes 201 215 215
Widows and dependants
of		 clergy 5 3 3
RME Ordinands
in training		 56 65 216 281
Other institutional
grants		 0
Total from restricted funds for various purposes 383 203 431 635
Total 514 794 629 2,108

8.CHARITABLE ACTIVIT IES EXP EN DITURE (continued)
Total
Individuals Institutions 2021
No. E'000 f'000 E'000
From unrestricted
unds		 ornational church res onsibilities
Archbishops'Council(note 8) 808 808
From unrestricted
unds
Clergy for training 5 2 2
Ordinands'training,
receiving maintenance		 29 289 289
South Central Regional Training Partnership 20 2
Totalfrom unrestricted funds 291 292
Fromrestricted
unds
orvarious		 ur oses
Clergy forcharitable purposes 1 2 2
Widows and dependants ofclergy 52 6 6
RMEOrdinands
in training		 55 284 230 414
Other institutional
grants		 4 73 73
Totalfrom restricted funds for various purposes 192 303 495
Total 173 2.222 1,595

2022 2021
f'000 f'000
Wages and salaries 1,696 1,923
National insurance contributions 183 196
Pension costs 227 245
Lay pension deficit provision change (12) (330)
2,094
The average nu mber ofpersons employed during the year based on full-time equivalents:
2022 2021
fte fte
Resourcing ministry:
Winchester School of Mission 8 8
Strategic Development 5
Administration and Financial management 25 24
Safeguarding 4 a
Property 3 3
Fundraising 1 1
45
The average number ofpersons employed during the year:
2022 2021
no. no.
Resourcing ministry:
Winchester School ofMission 9 10
Strategic Deve Iopme nt 5 5
Administration and Financial management 28 28
Safeguarding 5
Property 3 3
Fun draising 1 1
51

Interim Diocesan Secretary
gt Company Secretary		 Colin Harbidge
(appointed 01.04.2022,
previously
Director ofOperations)
Director of Finance Lisa Streeter (55/o - resigned 07.11.2022)
Director ofEducation Jeff Williams
(67/o)
Director of Human
Resources		 Susan Beckett
Director ofStrategic Development Mark Lowman
(resigned 30.06.2022)
Director ofMinistry Mark Collinson
Remuneration, pensions,
and expenses for the 6employees		 amounted
tof420,002(2021:f492,212)

he following table gives details ofth
uring the year:		 e Trustees who were in receipt o
Stipend Housing
The Revd A Micklefield Yes Yes
The Revd Dr TMatthews Yes Yes
The Revd R Noel Yes Yes
2021 Stipend Housing
The Revd A Micklefield Yes Yes
The Revd Canon
R Harlow		 Yes Yes
The Revd Canon
CStewart		 Yes Yes
~Sti end Costs
2022 2021
f'000 f'000
Stipends 3,613 3,920
National insurance contributions 308 289
Pension costs - current year 1,141 1,172
Pension costs - deficit reduction 143 247
5,205 5,628

Unrestricted Funds Restricted Endowment
General Designated Funds Funds
2022 f'000 f'000 f'000 f'000
From General fund to Restricted fund to eliminate negative balances (289) 289
From Restricted fund to General fund for Education costs 130 (130)
From Restricted fund to General fund for Stewardship
costs		 37 (37)
From Designated fund to General fund for grant to parish 138 (138)
15 138 122
Unrestricted Funds Restricted Endowment
2021 General
f'000		 Designated
f'000		 Funds
f'000		 Funds
f'000
From General fund to Stipend fund for reduction in pension deficit (246) 246
From General fund to Clergy welfare fund forthe OAP property loan reduction (100)
(346J 246

Freehold
Land & Office
Buildings Equipment Total
f'000 f'000 f'000
Valuation asat:
1January 2022 147,999 148,007
Additions 1,546 1,546
Disposals (4,805) (4,805)
Revaluation 2,241 2,241
31December 2022 146,981 146,989
Depreciation:
1January 2022 (8) (8)
Disposals
Charge forthe year
31December 2022 (8) (8)
Net BookValue
At 31December 2022 146,981 146,981
At31December 2021 147,999 147,999

12.FIXEDASSET INV ESTMENTS
As at 1st Net As at31st
January Gains/ December
2022 Additions Disposals (Losses) 2022
f'000 E'000 f'000 E'000 f'000
Unrestricted
funds
Unlisted
Investments		 3.722 (482) 3,240
Restricted funds
Unlisted
Investments		 8,705 (1,018) 7,687
Endowment
funds
Investment
Property		 1,015 (2) 46 1,059
Unlisted
Investments		 12,007 (20) (1,361 10,626
13,022 (22) (1,315) 11,685
Total 25,449 (22) (2,814) 22,612
13.DEBTORS
2022 2021
f'000 f'000
Due within one year
Current year Common Mission Fund (parish share) 146 70
Loans to parishes 244 272
Loans to others 69 19
Other debtors and prepayments 627 364
1,087 725
Due after more than one year
Loans to parishes 840 799
Other Loans 784 199
1,623 998
Total Debtors 2,710 1,723

Due within one year
2022 2021
f'000 S'000
Loan repayments 390 29
Deferred income 69 78
Other taxes and social security 48
Creditor relating to sale proceeds ofclosed school 400 400
Other creditors and accruals 458 176
Pension scheme liabilities:
CEFPSfor Clergy 23
Church Workers DBS 17
Total creditors: amounts falling due within one year 1,318 771

2022 2021
f'000 E'000
Loan repayment instalments due after more than one year
Church Commissioners
value-linked
loans		 61 75
NatWest
Bank value-linked		 loans 137 149
Loan from CCLA 1,000 1,000
Other loans 789 1,255
Pension scheme liabilities:
CEFPSfor Clergy 210
Church Workers DBS 148
Total creditors: amounts
falling due after more than one year		 1,987 2,837
The maturity
ofthe above loans may be analysed		 as follows:
Between one and two years 29 27
Between two and five years 86 76
in five years and more 1,873 2,376
1,987 2,479

16.ANALYSIS OF CHANGES IN DEBT
As at 1st As at31st
January December
2022 Cashflows Other 2022
2022 f'000 f'000 f'000 f'000
Cash and cash equivalents 7,254 2,216 9,470
Loans falling due within one year (29) (361) (390)
Loans falling due after more than one year (2,319) 332 (1,987)
4,906 2,187 7,093
Asat1st Asat31st
January December
2021 Cashflows Other 2021
2021 f'000 f'000 f'ON f'ON
Cash and cash equivalents 3,495 3759 7,254
Loans falling due within one year (34) 5 (29)
Loans falling due after more than one year (2,634) 315 (2,319)
827 4,079 4,906

17.SUMMARY O F FUND MOVE MENTS —CURRE NT YEAR
Total
01Jan Gains & 31Dec
2022 Income Expenditure Transfers Losses 2022
E'000 f'000 E'000 E'000 E'000 E'000
Unrestricted
Fund
General 38,411 11,048 (11,039) 15 (207) 38,227
General Desi nated Fund
General Designated Fund (1) (1)
Parish mission and development 107 107
Maclean 492 17 (57) 452
OAP Property 753 753
Building New Church 491 (4) (138) (20) 335
Planned
maintenance		 sinking fund (106) (106)
Susta inability
Fund		 40 (45) (5)
Clerical Registry fund (30) (55) (85)
1,746 22 (105) (138) (77) 1,449
Restricted Funds
General Restricted
Fund		 242 (215) 27
Pastoral fund (267) (1) 267 (0)
Parsonages
endowment		 income 1 1
Retired Clergy houses fund 3,290 54 (142) (108) 3,094
Major Ball settlement income 6 5 (2) 8
Penrose income fund 73 13 (5) 81
Clergy welfare income fund 810 180 (29) (46) (82) 833
Chalke Bequest income 13 1 14
Church schools fund 10 2 12
Queen Victoria clergy fund (17) 3 (2) 17 (0)
Pember income fund 90 (10) 80
Widows and dependants fund 1,039 32 (107) 956
Thorrold
library fund		 24 24
ICSFgrant fund 462 12 (54) 420
Council for Social Responsibility 914 37 (100) (156) 695
Falrbairn trust 371 10 (1) (42) 338
Tale Tellers 2 2
Christopher
library		 4 4
RME Training for Mission 494 442 (377) 559
Winchester
Mission Action		 572 537 (834) 275
New Church
Buildings		 (6) (0)
Northbrook 4 4
Giving Advisor 40 32 (37) 35
Schools Development Fund 3,742 140 (130) (453) 3,299
Ministry
Hardship
Fund		 60 (106) 46
11,671 1,804 (1,817) 122 (1,017) 10,762
Endowment
Funds
Expendable
Benefice houses 93,545 2,218 95,763
Permanent
Stipends fund capital 23,059 (138) 22,921
Parsonages endowment capita I 893 (105) 788
Major Ball settlement capital 200 (20) (23) 157
Penrose capital 390 (46) 344
Clergy welfare capital 7,097 (668) 6,429
Cha Ike bequest capital 70 (8) 63
Widows and dependants capital 224 (26) 198
Thorrold
library capital		 247 (29) 218
Pember capital 965 27 (108) 884
Christopher
Library		 5 (1) 4
Chute endowment 294 (34) 260
126,989 28 (20) 1,032 128,029
Totalfunds 178,817 12,901 (12,980) (270) 178,467
Page 46of57

17.SUMMARY OF FUND 17.SUMMARY OF FUND 17.SUMMARY OF FUND MOVEMENTS MOVEMENTS MOVEMENTS —PREVIOUS YEAR
1)anuery Gains and 31December
2021 Income Expenditure Transfers losser 2021
E'000 E'000 E'000 E'000 E'000 E'000
.'UNRESTRICTED FUNDS
, General 32,719 1'l,109 (10,409) (346 5,338 38,411
'General
Designated		 Fund (1)
'Parish mission and development
, Mac lean		 106
416		 16 1
60		 107
49?
IDAP Property 1,550 (897) 753
Building
New Church		 491 22 491
Planned
ma intenance		 sinking fund (106) (106)
Susta inability
Fund		 545 (505) 40
Clerical Registry fund (30) 30)
3,002 20 562 100 (814) 1,746
'RESTRICTED FUNDS
General Restricted
Fund
; Pastoral
fund
,Personages
endovrrnent		 income (267) (267)
1
Clergy houses fund 3,101 53 (140) 276 3,290
Major Bell settlement income 4 5 (3) 6
, Penrose income fund 55 12 6 73
Clergy vrelfsre income fund 666 167 (109) 86 810
Cha lke Bequest income 22 1 23
Diocesan loans fund 0
, Church schools fund 3,122 135 485 3,742
.Queen Victoria clergy fund (15) 3 (6) 1 (17)
Pernber income fund 80 10 90
.Widows snd dependents fund 904 (10) 115 1,039
, Thorrold
library fund		 24 24
ICSF grant fund 399 11 52 462
Council for Social Responsibility 823 34 (110) 167 914
Falrbairn
trust		 317 9 45 371
,Tale Tellers 2 2
!Christopher
library		 4 4
RME Training
for Mission		 408 528 (442) 494
Winchester
Mission Action		 363 2,282 (2,073) 572
,,New Church Buildings (5) (1) (6)
,
'Northbrook		 4
, Giving Advisor 40 40
Schools Development Fund
10,012 3,310 2,898) 1,247 11,671
:ENDOWMENT
FUNDS
Expendable
Benefice houses 82,828 358 10,359 93,545
,'Permanent
:.Stipends
fund capital
'Personages
endowment		 capital 20,320
780		 10 2,483
113		 23,059
893
Major Ball sett Ie ment
',Penrose capita
I		 capita I 175
341		 25
49		 200
390
'Clergy vrelfare capital 6,480 617 7,097
Cha lke bequest capital 60 9 70
Widows and dependents capitai 196 28 224
;Thorrold
library capital
;Pember capital		 216
823		 26 31
116		 247
965
',Christopher
Library		 4 1 5
Chute endowment 257 37 294
112.480 395 246 13,868 126,989
Total funds 158.213 14,834 13,869 19,639 178,817

18.SUMMARY OF A SSETS BYFUND —CURRENT YEAR
Fixed Assets Current
Tangible Investments Assets Creditors Net Assets
E'000 E'000 f'000 E'000 E'000
Unrestricted
Fund
General 31,010 2,662 6,339 (1,784) 38,227
General Desi nated Fund
General
Designated		 Fund (1) (1)
Parish mission and development 107 107
Maclean 428 24 452
OAP Property 2,142 (1,389) 753
Building New Church 800 150 (616) 334
Planned
maintenance		 sinking fund (106) (106)
Sustainability
Fund		 (5) (5)
Clerical Registry fund (85 85)
2,942 578 2,071 1,449
Restricted Funds
General Restricted
Fund		 26 26
Pastoral fund
Parsonages
endowment		 income 1 1
Retired Clergy houses fund 1,536 815 1,028 (286) 3,094
Major Ball settlement income 8 8
Penrose income fund 41 40 81
Clergy welfare income fund 615 219 834
Chalke Bequest income 15 15
Church schools fund 12 12
Queen Victoria clergy fund 4 (7)
Pember income fund 69 11 80
Widows and dependants fund 808 148 956
Thorrold
library fund		 24 24
ICSFgrant fund 403 16 420
Council for Social Responsibility 1,189 (494) 695
Falrbairn trust 325 13 338
Tale Tellers 2 2
Christopher
library		 4 4
RMETraining for Mission 559 559
Winchester
Mission Action		 311 (37) 274
Northbrook 2 4
Giving Advisor 35 35
Schools Development Fund 3,416 1,085 1,201) 3,300
1,537 7,687 3,060 1,521 10,762
Endowment
Funds
Expendable
Benefice houses 96,486 173 (897) 95,762
Permanent
Stipends fund capital 15,005 3,238 4,678 22,922
Parsonages
endowment		 capital 788 788
Major Ball settlement capital 156 1 157
Penrose capital 345 (1) 344
Clergy welfare capital 5,429 1,000 6,429
Chalke bequest capital 60 2 62
Widows and dependants capital 199 (1) 198
Thorrold
library capital		 219 (1) 218
Pembe rcapital 812 72 884
Christopher
Library		 7 (3) 5
Chute endowment 259 259
111,491 11,685 4p851 128,028
Total funds 146,981 22,612 12,180 (3,305) 178,467

18. SUMMARY OF ASSETS BYFUND BYFUND BYFUND —PREVIOUS YEAR —PREVIOUS YEAR
Fixed assets Current Net
Tangible
E,OOO		 Investments
E,OOO		 Assets
f,OOO		 Creditors
E,OOO		 Assets
E,OOO
Unrestricted
funds
—general		 33,366 3,068 4,737 2,760 38,411
Unrestricted
- designated
General
Designated
Fund
Parish mission
and development
Ma clean		 485 (1)
107
7		 (1)
107
492
OAP Property
Building
New Church
Pla nned maintenance
sinking
Susta in abi Iity
CIerica I Registry fund		 fun 1,853
800
2,653		 170
654		 (1,100)
(479)
(106)
40
29
1,561		 0 753
491
(106)
40
30
1,746
Restricted
General
Restricted
Fund		 (1) (1)
Pastoral
fund		 (267) (267)
Parsonages
endowment
income
Clergy houses
fund
Major Ball settlement
income
Penrose income fund		 1,536 924
46		 1
1,119
6
27		 (289) 1
3,290
6
73
Clergy welfare
income fund
Chalke Bequest income
Church schools fund		 696
3,869		 114
13
285		 (400) 810
13
3,753
C1ueen Victoria clergy fund 4 (21) (17)
Pember income fund 79 11 90
Widows
and dependants		 fund 915 123 (0) 1,038
Thorrold
library fund
ICSFgrant fund		 458 24
5		 24
462
Counci
I for Socia I Respons		 ibi I ity 1,345 (431) 914
Falrbarn
trust		 368 3 372
Ta Ie Te I Iers 2 2
Christopher
libra ry		 4 4
RME Training for Mission 494 494
Winchester
Mission
Action		 496 75 572
New Church
Buildings		 (6) (6)
Northbrook 2 4
Giving Advisor 40 40
Schools Development
Fund		 1,537 8705 2,044 615 11,671
Expendable
endowment
Benefice houses		 93,518 195 (169) 93,544
Permanent
Stipends
fund capital
Parsonages
endowment		 capita I 16,925 3,484
893		 2,883
0		 (233) 23,060
893
Major Ba I I settle ment ca
Penrose capital
CIergy we
Ifare capita
I
Chalke bequest capital		 pita
I		 199
391
6,097
68		 1
(1)
1,000
1		 200
390
7,097
70
Widows
and dependants		 capital 225 (1) 224
Thorrold
library capita
I
Pember capital
Christopher
Library
Chute endowment		 248
920
8
294		 (1)
45
(3)
0		 247
965
5
294
110,443 13022 3,757 233 126,989
Total funds 147999 25,449 8977 3608 178 817

19.DE SCRIPTION O F FUNDS
General Fund: The general fund
is the WDBF's unrestricted
undesignated
fund available for any		 ofthe
WDBF's purposes
without
restriction.
Parish Mission and Development Fund:
A fund
created
in the mid-2000s
by the then
Bishop's
Council to support
mission
projects in parishes as part ofthe mission strategy
in place atthe time. Strategies		 moved
on and fund was never fully used as priorities
changed.
Designated
Fund to be wound
up in 2023 and returned to General
Fund.
Maclean Fund: The Maclean
Fund
originated
with
an unrestricted
bequest
in 1948 by the		 late Sir
Alexander
Maclean. The WDBF has designated
this fund to assist with expenditure
on
clergy houses which could not be met from any other fund.
OAP Property: Fund representing
the asset at Old Alresford
Place net ofthe related loan.
Building New Church: Designated
fund created bythe directors ofthe WDBF in mid 2000s. Fund to be reviewed
during 2023to ascertain iforiginal purposes are still required.
Planned maintenance sinking fund:
Designated
fund
created to fund
maintenance
works for Old Alresford
Place. Fund
ceased to be utilised
in 2020so will be reviewed
and returned tothe General Fund		 during
2023.
Sustainability
Fund:		 Designated
fund representing
a grant made from the Church commissioners
during 2021
to support
DBFs in managing
the financial
implications
ofthe pandemic.
Original		 Grant
now fully expended so fund to be closed.
Clerical Registry Fund: Designated
Fund
originally
created
from the
surplus
assets
of the Winchester
&
Portsmouth
Diocesan Clerical Registry which were passed tothe WDBFwhen the Charity
was wound
up. Funds
used to cover costs of the Registry. Once fully expended,
this
Designated
Fund will be closed.
Pastoral Fund: The diocesan pastoral account was set up under the provisions ofthe Pastoral Measure
1983.The restricted
purposes for which the account may be used are:
~
to defray costs incurred forthe purposes ofthe Measure or any scheme or		 order
made under the Measure except for salaries of regular diocesan employees
~
to make loans or grants for the provision,
restoration,
improvement
or repair of
churches
and parsonage
houses
in the diocese
~
other purposes ofthe diocese or any benefice or parish
in the diocese
~
to make grants or loans to any other diocese
to transfer funds to the diocesan stipends
fund income or capital accounts.
Retired Clergy Houses Fund: This
restricted
fund,
formerly
known
as the
Clergy
Retirement
Houses		 Fund,
represents
the unexpended
balance of a special appeal for funds made
in the		 early
1980sforthe provision ofretirement
housing for clergy. The fund isalso used to		 make
bridging
loans to clergy approaching
retirement.
A Charity
Commissioners
Scheme
has widened the purposes ofthis fund to include housing
provision for clergy widows
and deserted
clergy spouses.
Major Ball settlement: This restricted fund represents
the unexpended
accumulated
income ofa settlement
for the benefit ofthe parishes of Brown Candover
and Chilton Candover.
Penrose Legacy Income: This fund represents
the unexpended
accumulated
income ofa legacy forthe benefit
ofclergy, who in the opinion ofthe WDBFare most in need ofgrants.
In recent		 years
the WDBF has applied the income for grants to clergy for extended
study leave.

Clergy Welfare Fund: Clergy Welfare Fund: The Clergy Welfare Fund is vested
in the WDBF as trustee. The capital of the trust
is
shown
as a permanent
endowment,
and accumulations
of income as a restricted
fund. The purposes
for which the trustee
may apply the income are as follows: for
the benefit ofclergy in the Diocese ofWinchester,
at the discretion ofthe Bishop; to
assist ordination
candidates;
to assist with the higher education
of children
of the
clergy in the Diocese.
Chalke Bequest: Bequest from
Miss Winifred
Joan Chalke to be used for the benefit of Industrial
Mission.
Church Schools Fund: The church schools fund represents
unexpended
accumulations
of sale proceeds of
redundant
Church of England School properties.
Its use is restricted
by law to capital
and maintenance
work to Church of England
schools
in the diocese and education
generally
at Church of England
schools
in the diocese. The WDBF is trustee of these
funds, which are managed
on a day to day basis by and in consultation
with the Board
of Education.
Queen Victoria Fund: Restricted
Fund to receive any grants made to the WDBF by the Queen Victoria Fund
—a separate grant making charity that provides
small grants for clergy welfare.
Pember Income Fund: The annual
income of the Pember
Fund
is restricted
by a Charity
Commissioners'
Scheme to the payment
ofWinchester
Diocesan clergy pensions. Where the income
in
any
year
is not
required
for this
purpose,
it
may
be
used
for
providing
accommodation
for these
clergy
and their dependants,
and for making
grants to
widows ofsuch clergy and their dependants.
Clergy Widows and Dependants: These funds have been left to, or settled with, the WDBF specifically for the benefit
of clergy widows
and dependants.
Fund reviewed
by the WDBF in 2023 with a view
to seeking approval
from the charity Commission
to expand its purposes.
Thorrold Library fund: The purpose
of this fund
is to provide
a theological
library for the clergy of the
Diocese. The Thorrold
and
Lyttelton
Library
has been loaned to the University
of
Winchester to secure its future accessibility
and development.
Fairbairn Trust: The Fairbairn Trust, ofwhich the WDBF isTrustee, was a bequest ofthe late SirArthur
Fairbairn for the Church of England's
mission to deaf and hard-of-hearing
people
in
the Diocese. Grants are awarded to parishes
and local deaf clubs.
Diocesan Council for Social Responsibility:
The Council for Social Responsibility
Fund exists to support "the advancement
ofthe
Christian
religion
within
the
Diocese
of Winchester
by
promoting
Christian
engagement
with
and concern for people's
needs
in the whole of society, and to
reflect upon social issues in the light ofthe Gospel'".
ICSFGrant for Clergy Houses: This fund arose from a distribution
tothe WDBFfrom the former Incorporated
Clergy
Sustentation
Fund. Capital and income may be used in aid ofthe sustentation
ofthe
clergy in the Diocese.
Benefice House Endowment: This restricted
fund consists of income generated
by the associated
endowment
the
income is entirely transferred
annually to the general fund where it is applied for its
specified purpose ofbenefice house outgoings.

Diocesan Stipends Diocesan Stipends Fund Capital: The diocesan stipends
capital fund has been created from the diocesan stipends fund
capital account assets held on behalf ofthe diocese by the Church
Commissioners
under
the
Endowments
and
Glebe
Measure
1976 to provide
income
for clergy
stipends.
It represents
the
accumulated
sale
proceeds
of glebe
property,
sale
proceeds of benefice houses
and surplus
benefice endowments
following
pastoral
reorganisation.
Capital
funds
may
be used for the
purchase,
improvement
and
maintenance
of glebe property
and benefice houses. The funds
may be invested
in
the CBFChurch of England
Property,
Investment
or Fixed Interest Securities Funds, or
simply held on deposit.
Benefice Property Fund: The benefice property
fund consists of resources restricted to provision
of benefice
houses
in the diocese. They are represented
by the benefice
houses
or by sale
proceeds offormer benefice houses held on suspense
by the Church Commissioners.
Although
benefice houses are vested
in the incumbents
for the time being of the
benefices concerned, the DBF is obliged to maintain
them, to ensure that there are
sufficient benefice houses forthe pastoral structure ofthe diocese; in addition, where
a benefice
house
is no longer
required
then
it is usually
transferred
into the
unrestricted
corporate ownership
ofthe WDBF.
Chalk Bequest: Bequest from
Miss Winifred
Joan Chalk to be used for the benefit of
Industrial
Mission.
Chute Fund: The income
from the Chute
Legacy Endowment,
a fund
originally
created
by the
WDBF from
a number
of restricted
gifts
is for the purpose
of being
a repair
and
replacement
fund for the Retreat Centre & Diocesan Offices.
Christopher Ubrary: Gift from OAP Trustees
in 2009 —Income
is used to support the salary of resources
assistant
in the Resources Centre.
Tale Tellers: Gift from OAP Trustees
in 2009 —Income
is used to support the salary of resources
assistant
in the Resources Centre.
RME Training for Mission: Income
received
from
Church
Commissioners
to fund
theological
training
of
ordinands.
Any funds not spent on training are required to be held by the WDBF with
the expectation that the surplus
will be returned to the Church Commissioners.
Winchester Mission Action: Restricted
Fund
for
any
grants
received
from
the
National
CofE
Strategic
Development
Fund or its successors.
Fund can only be used to support the costs of
projects approved
by the National Strategic Mission &Ministry
Investment
Board.
Giving Advisor Fund: Grant
provided
by the Church
Commissioners
to fund
additional
resource
in our
stewardship
team. Funding tapers over a 3year period.
Sustainability Fund: To aid transition.

/o ofpensionable stipends January 2018to January 2021to
December 2020 December 2022
Deficit repair contributions .go/o
2022 2021
Balance sheet liability at 1January 233,000 532,000
Deficit contribution
paid		 -143,000 -247,000
Interest cost (recognised in SoFA) 0 1,000
Remaining
change tothe		 balance sheet liability* (recognised in SoFA) -90,000 -53,000
Balance sheet liability at 31December 233,000
December 2021 December 2021 December 2020
Discount rate n/a 0.0O/o pa 0.2o/o pa
Price inflation n/a n/a 3.1O/o pa
Increase to total pensionable payroll n/a -1.5~/o pa 1.6~/o pa

2022 2021
f'000 f'000
Land and Buildings:
Within one year ofthe balance sheet date 17 15
In the second to fifth years inclusive ofthe balance sheet date
17 15
Other operating Leases:
Within one year ofthe balance sheet date
In the second to fifth years inclusive of the balance sheet date

22. FUNDS HELD AS CUSTODIAN T 22. FUNDS HELD AS CUSTODIAN T RUSTEE RUSTEE RUSTEE RUSTEE RUSTEE
The WDBFacts as Diocesan Authority orcustodian trustee for many trust funds by virtue of the Parochial Church Councils
(Powers) Measure 1956and the Incumbents and Churchwardens (Trusts) Measure 1964 where the managing trustees
are parochial
church councils and		 others. Assets held in this way are not consolidated into these financial statements as
the WDBF does not control them. The financial assets held in this way may be summarised as follows:
Funds Held As Custodian
'Trustee
2022 2021
f'000 f'000
CBFChurch of England
Investment
Fund income shares		 16,314 18,353
CBFChurch of England
Fixed Interest		 Securities Fund shares 273 478
CBFChurch of England
Property		 Fund shares 245 278
COIF income and accumulation
shares		 2 3
Other common investment
fund		 holdings 316 279
Other fixed interest stocks 104 104
CBFChurch of England
Deposit Fund		 1,372 1,326
Cash at bank 570 68
19,195 20,889