SALISBURY DIOCESAN FORCES WELFARE FUND
REPOIU OF THE TRUSTEES
AND
STATEMEKf OF AccouKrs
FOR THE YEAR ENDED 31 DECEMBER 2023
CONTENTS
Pa
Truslees. Report
Statement of FinanrAa] Activities and Balance Sheet
Not8s to the AcLDunls
Independent Examinefs Report

SAUSBURY DIOCESAN FORCES WELFARE FUND
TRUSTEES. REPORT FOR ThE YEAR ENDED 31 DECEMBER 2023
LEGAL STATUS
The Fund Is B règlstered charity. numb8r 250335. Its gov8ming InstnJm8nt Es 8 Charfty Commlsslon Sethème d8ted gth
July 1985 as amended by o Scheme daied 10 Der£mber 1997. Tr Charitls offiual tillè is th8 Church Df England Board
for the Welfare of Her Majestys Forces withln the Diocese of Salisbury. However the trustees use 'Sa115bury DIoc￿n
Forc98 Welfare Fund. as the Charitys working titte as allowed under the Scherne.
TRUSTEES
Th8 fijlowing 88ryed as the trustoes during the year arKI to dalo..
Ex ofii¢lo truBlèes
Sqn Ldr A Glasby
Rav C Shlmman
Rov A Cobain
Fro￿ ￿23
Nomlnated trustees
Commodora R J8¢kman Ch8trn8n
Ven S Robblns
Lt Col M Nash
Lt Col R Milter
Gp Capl M Oldham
MajorA Bun
W02 H Tokaiqali
DrA G¢th￿n
Lt Cd D RavAins
LtCdALe
Tu NDv23
To Nov23
From Apr23
Co-opted trust
Dr L Brown
Mr8 J Guyer
Fivo trustees are ex-offlcS0. holding appointments vthhin H M For¢e8', three trugtw are ¢t￿pted, appointod by th8
trustees and having special knowtedge ot Salisbury DI0￿9. th8 ch8im)an k9 appoint￿1 by Ihg Bishop of Salisbury. Th
remaining trustses are nominated by tha S8llsbury Di(w8n Synryj and are appointed for a tomi of four years.
Tha Salisbury Dirman Board of FinanrE Is (Jjstodian trLth oflhe Chartty.
CLERK TO THE TRUSTEES
Lt Col M Bullgr, Sgnlors F8mihous8. Semlay, Shaftesbury SP7 9AX
ADVISERS
Independent Examiner
nvestment Managers..
Mrs N A Hall8 FCA, Retthor & Partners. BJldge StreèL Salisbury SP1 2LZ
CCLA Investment Management Lld. On8 Ang&1 Lane. LO￿n. EC4R 3AB
OBJECTS AND AcTIV￿lEs
The Charws purpose bs lo promote the spiriluyl arKI m¢xal wolfar8 of and provKJ8 such gther charllable benefflls as th8
trustees frorn time to tirne decide for His Majest￿¥ For¢os (both serving veterans) wfchin the Dlocese of Sallsbury and
their depe￿ants. The managlng Irustotss normolty meet tvAce a year to conswjer the allocation of grants as fofiows.. lil lo
Service Chaplains, Emergency FurKls', {iil to SwvI￿ units in response to aw4ications made through servi￿ hgadquarters
and liill such other charilablg grants as the trustees may deLide.
The Cl8rk to the trustees receives grant applications as well a5 dealing wth all wrte8pDndenc8. The Fund èmploys no
Staff but rglies on Ihg staff of the Salisbury diocesan Offi￿ wriaint8in the acc￿n11ng rÈ(x>rd8 8nd prèpara thè annual
financial 5tatsmgnts.
The trustees have complied wlh thèir duty tr) have due regard to the guidan￿ on public benefit published by the Charity
Commission in exerci3irvJ Ihelr powers or duties.

SAU8BURY DIOCESAN FORCES WELFARE FUND
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 21)23
ACHIEVEMENTS AND PERFORMANCE
During the year th8 Fun(J awarded grants lotalling £16,7Z2 S￿￿1 batr￿en the Services and Intt[al￿aS in support of
Vttlerans. Thaso grants arg made lo supp(¥t wewaro Inld8Uves at MOD 8slab115hrr]ents and their asstrdated 18mily
welfare la¢llib'es, and in Veterans oryanisalions wlthln thè diocese and so ￿nfer & bsnpfit on the personngl their
dependants semng. or havlng served, in HIS Majestys Armed Forc&8. The Trustees conUnu8 lo match grBnt making
to 8vailab19 Income which has b￿n reflected In a slighty lower figure ¢Jue to returns, but this is lo ensure th8 longer
term health of the Fund. The Truslts6s have also k)oked io work rTh)re closely wlth Service Supptsrt providers such
as Ihe WRVS who gel Iitue or m direct fijndiro from the MOD yet provlde ￿tstandIng seNic6 to servicemen and
seNi¢e women. The Trustsgs also continue to review8rwJ update both its Governance and Rk8k d0￿Ments.
FINANCIAL REVIEW
Investment incomts for the year was £45,37012022- £42.8251. vthilst grants paid lindudlng alk)Gated support costs)
were £16.72212022- £18,596}. There was a surplus for the yeor of £28.648 12022- 0￿rating surplus of £24,299>.
The Fund's inveslm8nts have seen an inuea$8 in lh& ¢%pitsl valLEe perforinanlx, w￿h a nèt gain of £￿,S14(2022-
£170,372 nel lossl. There was an overajl Increw in fvnds for the year of £119,162 12022 - £146,143 d8u¢asel
making lotsl reserves al the year end £1,449,100 {21)22 '.£1.329,9381.
RESERVES POLICY
Thè Trust&es' aim is to preserve th8 invastments and to al￿￿1& lurmts as grants to deserving bKls so18ty from
incomè continues. Within a finanGial year the allocation is (zpped at tho level of the anticipated incom8 but within
the ennstraint of retaining reserve of 5(k75% of the rt)Iling &year average annual income. Where there is a
mismatch resulting from the auiumn meeting. the pa￿nents of grants may be deferred into thè following year.
INVESTMENT POLICY
Thè Fund's investment pNJlicy 18 set QLrt in Note 4 to the ￿t￿nts. Thè invèstm￿1 poliry ar￿ FX)rtfolio rwmgln under
review to ensure IhaL a8 far as possible and vrithin the ￿￿$traints of ESG Policy. the investmenls prlorktise income
over capital growth and deliver an annual increase in inex)ma that as a mlnimum offsets the offects of inflation.
RISKS REVIEW
Risk is considgred annually. At present the trustees £￿￿der that th8 Fund's onty risk bs a total tx)Ilapse in stock
markets whith th8y have mttigated by ptacing a propofrftm) Df Ih8 Fund's inv&strnents in a propety ftjnd.
DEVELOPMENTS AFTER THE YEAR END
Th8 trustses consléer that there are no material uncèrtaintiès about the Charitys ability lo ¢onUnue BS a going
concern. In thls assessment Ihe trustees h8V6 a¢krth￿edged the imp&t of wrrent market unc£rtainlies and whilst
this does nol represent an existential threat ￿ may tsmporarily reduce the TnJ5t's ablllty to m681 the demand.
TRUSTEES, RESPONSIBILinES IN RELATION TO THE FINANCIAL STATEMENTS
The tDJstees are respon￿ble for propariTrJ the Truste* Annual Rewt aThJ the financial statements In accordanG
with applicable law and Unitsd IQng(j￿ Accounling Standar(ls (Unlw lfjngdom Generally Accepted A(xoutrtlng
Praclicel. Th8 18w awliGaNg lo tharilies in England and Wales requires lh8 Charity trustees to prepar8 finan¢ial
slatgmenls fN oaeh year which give a true and f8lr vlow of th& state of affalrs of the Charity and of th8 In¢omlng
rewur¢es and applicalon of resources, of the Charlty for that period. In weparing the finarKial statsmenls. the
Trustees are required lo:
select ¥ultabl8 Scr￿UntIr0 policies and then appty them c>)nsistenUy.
obsérv& th8 methods and princAples in the Charities SORP;
make judgements and estimates that are reasonaNe and prudent..
state whether appli(ztAe accounting 5tsndar(ls have been followed. sublect to arry rnatert
departures that Thusl be disck)wJ arwj exFdainod in the financlal statements..
PT8pare the financial stalewnents on the g(Aw concern ￿lS un18SS it is inappropriate to
presume Ihatlhe Charity wll wnUnue in busjness.

SAUSBURY DIOCESAN FORCES WELFARE FUND
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
TRUSTEES. RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS Icontlnu•d)
The Trustees are regponsible for keeping proper accwnting records that disclose with reasonable aL￿UracY at any
Ilm¢ th& fin8n¢ial positfj￿ of the charity and en8L)1o Ih8m to tnsyr8 that the financial statements comply vrith the
Charltles Act 2011, the opplicoble Chartbes (Accounts and Reptytsl Regulations. and the provisions of the Charitys
schemes. They are also responsI￿e for safeguarding Ihe assets of the charity and taking reasonai4e steps fcw the
prevention and deleLlion of fraud and other i￿egUlaritteS.
Thé tru$lÈ8$ are respOn￿bI8 for th8 maSnt8nan(* and int￿rity of thè chadty and financial Informallon indudÉd on
thè ch8rity'S W8bsité In accordancè vAth ￿gISlatIon in the United lfjngdom governing the pr8paralion aTh
diss8min8tlon offln8nclal ststements.
Signed on beha￿ of the Trustees
Cdra R W Ja¢kman {Chairnwn)
Approved by tha Trustees on

SAUSBURY DNXESPJI FORCESWELFARE FUND
{Reglstw•d Gharlty No. 2503551
STATEMENYOF FINANCIALACTivmES FOR THE YEAR ENDED 31 DECEMBER 2D23
Total
UnrestrFLIBd
Funds
2023
Totsl
Unre8trkt8d
Fund8
Note
INCOME FROM..
vo$tments
Olvldend5
Inlerost dep08it8
42.135
3.235
42218
607
TOTAL INCOME
45,370
EXPENDITURE ON..
Charltabl8 actlvltl85
Grants paydbl8
16,722
18,596
TOTAL EXPENDrruRE
1e.722
18,5
NET INCOMEIEXPENDITURE BEFORE
NET GAiNSIILOSSESI ON INVESTMENTS
28,648
24,229
Nat galnslllos$8$1 on investments
NET MOVEMENTIN FUNDS
90,514
1170,3721
1148,1431
119,162
RECONCILIATION OF FUND8
Total funds brought fonNard
1,329,938
1.476,081
Totsl futKl8 carried lorwar
1.449.1Th)
£ 1,329,938
B￿ANcE SHEET AT31 DECEMBER 2023
Total
Unrestricted
Funda
Total
Unrestrfcted
Funds
FIXED ASSEts:
Listed Invesbmnts
1,366 099
1.275,585
CURRENT Ass￿8.
Cash at bank 8nd in hand
CBF 08posrf( Fund
Cash hdd by Salk%bury DBF
82.998
67
83,065
55,238
363
55,601
DobtOY8
AC￿ed Incom8
1,110
LIABILITIES..
Cr8dltor$'. amounls falllng du8 With
one year
11.1741
11,248}
CURRENT ￿SET5 OR UABILtriES
TOT￿ NET ASSETS OR UABILtnES
1.449,1DO
£ 1.329.938
THE FUNDS OF THE CHARITY:
Unrestd¢ied funds
1c
1.449.100
£ 1,329,938
Th8s8 finan￿al stater1￿ts wefe approved tylhe Tru8t885 on .¥4￿4￿..￿4.....
svJn8d on theirb8hdl by.
Cdre R W J8cAman Iclwlmanl
The notes cffi pages S 10 7 fNm partofllwe 8Ctwnts

SAUSBURY DIOCESAN FORCES WELFARE FUND
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
Aceountlng Pollcles
Accxiun
Convent￿On
Thg accounts {finandal stBt8mentsl are prepared under the hlsl(Mcal cxJ8t conventkjn vllh itsm8 recognisgd al cost or
trBnsaction value unless otherwse slateLf in the relevant notss to these 8wxJnts. Thp fin8n(¥al stslements have been
prepared in accordance Ythh the Statgment of Rg¢ommended Prdctice.. AccountlThJ and Re￿￿ng by Cttarili8S
pr8paTing thgir 8¢counls In awdance ￿th the Financial Reportlng Standard applicable in thè UK and Ropubll¢ of
Ireland IFRS 1021 effectlve from 1 January 2019, the Finan￿&1 Raportiro Standard appI1¢ab￿ in thè Unftad Kingdom
and Republlc of Ireland IFRS 1021 and the Charilles A(* 2011.
The Charity CO￿￿tUteS 8 public b8n8fit enlity as defined by FRS 102.
Tho Iruslees considfjr that there are no material un￿rtaIn￿eS abcyJt the ChariW8 almlity to continue 88 8 golng concèm.
There are M significant 8r8as of judgement or key assumptions that affect iterns in the aoxunts. With respect lo the
next reporbng period, thè year 8nd8d 31 Dacember 2024. Ihe most significant areas of uncertainty that Affect the
Car￿ng value of assets held by th8 Charfty are lh8 level of invesknent rebjm and the perfwmance of Investment
markets.
The ac￿￿)Unts do not in¢lud8 8 ￿sh flow ststenwl because the Chaity. as a small reporbng entity, is exempt from the
requirement lo prepar8 such a stateM￿L
nd accountl
General fvnds are unr85tiict8d furwts are available for use at the dIs(Tr￿1)n of tho trusts¢s kn fvrtherance of the
general 0￿8￿Ve$ of th8 charfty and which have been desvJnated for (Aher pUrFKjS￿.
It is the charity's policy to trwdl ts investrnents as tf w8r8 an 8ndowmonL as the income derived trom the
investments is the only source of inwmÉ.
I Incomlng rasourc8s. induding legacaes, are reLwnis8¢J th¢ thanty has gntidemenl to the resources, il is certain
that th@ r8sources will be received and the monetsry value of incomlng resources can be measured ￿th Suffidènt
r81iabillty. Income from investm8nts 15 i￿￿Uded In the year In which il is receivable.
Liabilities are recowised as resour￿$ expeTrJed as soon as there is a Wal or ￿nStrUCt￿e obllgalion committing thg
tharity to the expendiluie, il is Kthbie Ihat settlement will be rBquired and the amount of thè obligation can be
measurod reli8bly. Ail gxpenditure is accwnted loron an a(YnJab basis.
Grants payakAe are charged vthen the offer Is conveyed to the reuplerrt. eX￿pt In Ihosg c58e8 where Ihe ofler Is
conditional, in whi¢h ￿8¢ the grant would be recognised as ex￿JIture when the conditi￿3 attaCh1￿j are fuifdied.
Charitable activiyes
The expenditure on ¢h8dlable 8divities Inolud&s grants made 8nd wjppxt (K6ts.
ortco
Support costs have been differ8nli8led between governance costs and other support costs. This comprfsas 811 costs
involvirLq the public accountability of Ima charity and its compliance wth regulation ènd go(xl trfacticè. Th8 total support
C08ts are allocated 8qually between the grant recipients for the year.
Invèstm8nts
Quol&d And other investments are 5ts1ecl al martgt value as at the balance sheet dale. Th8 Statèment of finandal
activities indudes the net gains and losses arislTh3 on revaluatbjn and disposats throughout the year.
Reali8ed
ins and los
AJI gains and losses are lak$n to the statem￿1 of f￿￿d￿ activltles as they aTi8e. R8ali3ed galn8 Iossgs on
investments arè calculat8d Ès the Ififference befv￿en salg5 prrK8eds and opgning m8rkgt V8lug Ipurch3se date11 l*erl.
Unre81S$¥d galns and Ioss8s are cakulated as the drffer9nce bgtwgen th8 tnarkgl valu9 at the year end and opening
mad(èt valu& lor purchase date rf later). Realised and unr2alised galns are not separated In the Staternent of Financial
Activities.
kl
Cash al ban
Cash al bank and in hand indudes (Ssh ￿ de￿￿1 avali able on demand aThJ cash held by Salhsbury Dioc88an Board of
FinarKe.

SAUSBURY OIOCESAtr4 FORCES WELFARE FUND
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
Credllors
Crpdllors ar8 rècognlsed where the charfty has a pr8sont obliga1ion rgsulbng from a past event. that VAII probably r8suIt
In tha transfer of funds to 8 thlrd paty and th8 amunl due to satue the otrAigation ¢8n be Thasured rellabty.
ml Flna
Fixed asset investments are a fom) of basÈc financial instsiJrrBnt and are Initially recognis¢d at their Iran3a¢llon cost and
subsequently measured 8t fair volue at the Balancg sheèt date. Investment gains and losses, whet￿r r&21ised or
unrealised, 8ra combined and shown in the head[￿ 'N8t gains10￿￿￿88I on inv¢stments' in the Statèrn8nt of financial
aclivlllg8.
8roakdown of costs of ¢h3rltablg aetlvity
Id costs
23
02
Grants to organlsations
Army
NaNy and Royal Marfnes
WRVS
Senior ChaF4alns' Fund and Chaplain RM
8b8r¢
1,500
2,509
8.939
319
319
319
319
1,819
2,828
9.258
2.819
9,951
882
2.382
5.382
18,596
1274
16,722
Support costs ore altocal8d 8qually between the grant re¢l￿￿ents for th& yeat.
hèr
Total
Total
su
Govemance
su
costs
Support costs comprlse:
co
costs
2022
CEerk'$ honorarfum
DI0￿se,S managetngnl fe8
Independent ¢xaminefs fees
219
428
454
454
820
1,274
820
820
454 £
FSxed as6et InvestmÈnts. Llst8d investments- Unr85tricled thnds
2022
Market valuB at 1 J8nuary
Nel InvestThnt gain I Ilossl on r8valuati
Market value at 31 December
1.275,585
90,514
£ 1,366,099
1,445,957
170,372
£ 1275.585
Original c08t at 31 De¢ember
E 311,683
£ 311.683
un￿all$&d galns al 310ecember
£ 1.054,416
£ 963.902
The Ch8riVs pdicy is lo h￿d all the Chartvs investments in Ihe CBF Church of England cOMr￿n Invastmont funds
wlth the aim of long temi ¢apital and income growth. At 31 D￿mber 2023. the v8lu& of the Investment8 wa8
represented by 81% In th8 CBF Inve8tm8nl Fund. 3Yo in the CBF Short Duratlon Bond Fund and 16% in the CBF
PrDperty Fund. The main dsk lo the Charity from financial inslnJm8nts liès in the combination of uncortain Investment
markets and volatility In y?eld.
Cash held by Sallsbury Dlocesan Board of Flnancè
The Charity does not hold a bank accl￿nI in ils own name. Bankiro facalitses are opgrated through a designat￿1 Trusts
Eount held In the name of Sallsbury DI0￿San Board of Finance.
Cr•dltors: amounts falling duè wlthln one ￿ar
2023
2D22
Accruals and dèfèrred In￿me
1.174
1.174
1.248
1.248

SAUSBURY DIOCESAN FORCES WELFARE FUND
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
. 7. Movement In fundlng commltments for grants durfng the y•8r
2023
Grant ¢ommilments ￿cOgnISed as al 1 January
New grant commitsnenls charged to SOFA (see Note 2}
Grants pald during the year
Grant commllments recognised as al 31 D￿rnber Ise8 Note 6)
15,448
15,448
£0
17,069
17,069
£0
8. . Rèlat•d party transactlons, trustees. expenses aTrd remuneratlon and key man•gom•nl personnel
The d)arlty considars its k8y managèmont personnel compKise the tru51ees and the Clerk, No tr￿$t&9$ rgc8ivod any
remun8ratlon during th& ygar12022- £nil). No ITLislee received reimbursemanl for gxpen$6s durfng th8 year12Q22 - £nill.
Mark Buuer roceived an honordrium of £0 {2022 - £2191 for b8lng the Cl* The charfty had no other related party
transactions during the year12022- £nlll
9. Flnanclal Inst￿ments
Notg
2023
Financial assets at fair v81u& through profft and loss:
Investments held at fair valua
1,366,099
£ 1,366,099
1275,585
£ 1,275,585
Incom9, &xpgn$e, gains or losses, indLKling changès in f81r valug, recx)gnis8d on..
GainsllLossesl on Financial assets measur8d al fair value
Interest on cash deposits
Incomg fruffl listed inv8strwnts
90,514
3,235
42,135
£135,884
{ 170,3721
607
42,218
127,547

SALISBLIRY DIOCESAN FORCES WELFARE FUND
INDEPENDE1￿ EXAMINER'S REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 31 DECEAIBER 2023
I report lo the twslees on my examination of the ac(wnls of the Sal￿bUry Diocesan Forces Wdfaro FuTrJ lthe Trust)
for the y88r gnded 31 Decgmber 2023. whlch are set (Krt on paggs 4 10 7.
Rèsponslblllllos and basls of report
As the charity Iruslees of the Trust you 8r8 msprmsible for Ihe preparation of the accounts in 8CCDrdanc8 with the
requlrements of the Charitl8s Act 2011 Ixhe ACVI.
I report in respect of My examlnallon of the Trusfs at￿Unts e8rri6d out urHler sectlon 145 of the 2011 Act and In
carrying out My examination I have followed the applicabb Directions giv8n by thg Charity Commlssknn under
section 14515}Ibl of the Act.
Ind•p•ndont oxamlngrfs statement
I hav8 completed my examination. I wnfirm that no malejfjal matters have come lo my attenfjtsn In connoction ¥￿th
the examinall¢)n glving m& c8US& to bo1iov¢ that in any material respect:
accounting r8(x)rds wer8 not kept in resperA of the Trust 8$ requlred by section 130 of Ihe ACL or
2. the 8c¢ounts do not accord with th&8e records" or
3. the accounts do not ￿mplY wlth the aFvlicatle requiremants conceming th& fomi and content of a(uunt$ $$1 out In
Charilies (Accounts and Reports} Regulations 21J08 othor than any requirement that the accounts givg a tru8 and falr
view Ythich 18 not a matter ￿nsidered as part of an indepeThJ8nt 6xamlnation.
I have no concems and have coma across no other matters in conTbection ￿th the examination to which attention
$l¥)uld be drawn in this report in order to enable a pr(w undeistandlng of tha acLxJunts to be reached.
Mrs N A Halls FCA
Fletcher & Partners
Crown Chambers
Bridge Street
Salisbury
Date.. OCAts