THE COVENTRY DIOCESAN BOARD OF FINANCE LTD
Financial health, per its FY2024 accounts
The accounts state that the charity reported a deficit before investment gains of £1.2m, which was offset by investment revaluations and asset sales to produce an overall increase in total funds. The trustees note that financial sustainability remains a concern due to rising costs and static parish share income, but the diocese currently benefits from healthy reserves to meet short- to medium-term obligations. Reserves at year-end were £102.1m, with the General Fund balance of £2.6m being marginally below the policy target range of two and a half to three and a half months' operating costs.
What the accounts disclose
“The balance in the General Fund at 31 December 2024 was £2.6m which represents approximately 2.2 months of planned spending and is therefore marginally below the bottom of the policy target range.” — page 16
“The DBF provided the DBE with grants of £169,004 (2023: £159,000) in the year towards the costs of the DBE’s statutory obligations.” — page 54
“Costs incurred by the DBF on behalf of the Diocesan Trustees were £24,500 (2023: £25,350). These costs were for secretarial support and accounts preparation fees.” — page 54
“The DBF provided the DBE with grants of £169,004 (2023: £159,000) in the year towards the costs of the DBE’s statutory obligations.” — page 54
“Costs incurred by the DBF on behalf of the Diocesan Trustees were £24,500 (2023: £25,350). These costs were for secretarial support and accounts preparation fees.” — page 54
“The DBF provided the DBE with grants of £169,004 (2023: £159,000) in the year towards the costs of the DBE’s statutory obligations.” — page 54
“Costs incurred by the DBF on behalf of the Diocesan Trustees were £24,500 (2023: £25,350). These costs were for secretarial support and accounts preparation fees.” — page 54
“The DBF provided the DBE with grants of £169,004 (2023: £159,000) in the year towards the costs of the DBE’s statutory obligations.” — page 54
“Costs incurred by the DBF on behalf of the Diocesan Trustees were £24,500 (2023: £25,350). These costs were for secretarial support and accounts preparation fees.” — page 54
Leadership, per the charity’s website
- Sophie Jelley — Bishop of Coventry
Structured financials (annual return, FY ending 31/12/2024)
Trustees
- STEPHEN JOHN COOMBERchair
- Alicia Sampson
- Andrew Edisto Rolls
- Anthony John Edmund Rich
- Canon Kate Ishbel Massey
- Christopher Thomas Powell
- David Bernard Rake
- Dr Anita Nora Carmel Morgan
- Esther Louise Peers
- Mary Joanna King
- PHILIP SEWARDS MA, FIOD
- REVEREND DANIEL JAMES CORLETT
- REVEREND JONATHAN NOEL JEE
- Rev Alastair Prince
- Rev BARRY JAMES JACKSON
- Rev Claire Louise McArthur
- Rev Gail Ann Phillip
- Rev Sophie Rebecca Jelley
- Rev Timothy David Cockell
- Revd Canon Graeme Lindsley Pringle
- Revd Canon Richard Charles Hibbert
- SUSAN ELIZABETH WILLIAMS
- Timothy Hugh Pollard
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £11.0m | £12.2m |
| 31/12/2023 | £10.3m | £11.7m |
| 31/12/2022 | £11.1m | £12.1m |
| 31/12/2021 | £9.4m | £9.7m |
| 31/12/2020 | £10.2m | £9.2m |
Common questions
Is THE COVENTRY DIOCESAN BOARD OF FINANCE LTD financially healthy?
The accounts state that the charity reported a deficit before investment gains of £1.2m, which was offset by investment revaluations and asset sales to produce an overall increase in total funds. The trustees note that financial sustainability remains a concern due to rising costs and static parish share income, but the diocese currently benefits from healthy reserves to meet short- to medium-term obligations. Reserves at year-end were £102.1m, with the General Fund balance of £2.6m being marginally below the policy target range of two and a half to three and a half months' operating costs. Its FY2024 accounts were audited by Crowe U.K. LLP.
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The National Lottery Heritage Fund | 27/11/2024 | £195k | "Churchyard Biodiversity and Heritage Project" |
| The National Lottery Heritage Fund | 26/03/2013 | £72k | "Edgehill Visitor Hub" |
| The National Lottery Heritage Fund | 11/04/2006 | £50k | "Visitor Strategy Development Project (3 Year Project)" |