THE TRURO DIOCESAN BOARD OF FINANCE LIMITED
Financial health, per its FY2023 accounts
The accounts state that the charity reported a net expenditure of £2,106k for the year, driven by increased costs in resourcing ministry and property maintenance. However, total net assets increased to £119.9m due to significant unrealised gains on property and investments, with free reserves standing at £2.55m, which is above the stated policy target of £1.62m.
What the accounts disclose
“As at 31 December 2023 the amount of readily realisable assets in the General Fund required under the policy is £1,620k (2022: £1,700k), as per the table above. Actual free reserves as at 31 December 2023 amounted to £2,553k (2022: £1,544k) which is above the target amount” — page 9
“7 trustees (2022: 6) received travelling and out of pocket expenses, totalling £16,153 (2022: £12,744) in respect of General Synod duties, duties as archdeacon or area/rural dean, and other duties as trustees.”
“The stipends of the Diocesan Bishop and Suffragan Bishops were paid and funded by the Church Commissioners and are in the range £40,967 - £52,671 (2022 range £38,648 - £49,690).” — page 40
“7 trustees (2022: 6) received travelling and out of pocket expenses, totalling £16,153 (2022: £12,744) in respect of General Synod duties, duties as archdeacon or area/rural dean, and other duties as trustees.”
“The stipends of the Diocesan Bishop and Suffragan Bishops were paid and funded by the Church Commissioners and are in the range £40,967 - £52,671 (2022 range £38,648 - £49,690).” — page 40
Leadership, per the charity’s website
- Revd Cannon Paul Arthur — Revd Cannon
Structured financials (annual return, FY ending 31/12/2024)
Register events
- Received assets from another charity (15/06/2016)
Trustees
- Anna Elizabeth Harborne Corbett
- Charlotte Elisabeth Irwin
- DR Andrew Gibb Thompson
- Justin Mark Day
- Karen Louise Bond
- MICHAEL JAMES STURGESS
- Rev Douglas Peter Wren
- Rev Elizabeth Mary Ann Burke
- Rev Penelope Jane Leach
- Rev Robert Jeffrey Terry
- Rt Rev David Grant Williams
- Rt Revd James Treasure
- Simon Andrew Taurins
- The Reverend Jeffrey Edward Risbridger
- The Venerable Clive Duncan Hogger
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £7.1m | £11.4m |
| 31/12/2023 | £7.0m | £9.1m |
| 31/12/2022 | £7.3m | £8.2m |
| 31/12/2021 | £6.9m | £7.5m |
| 31/12/2020 | £7.0m | £7.4m |
Common questions
Is THE TRURO DIOCESAN BOARD OF FINANCE LIMITED financially healthy?
The accounts state that the charity reported a net expenditure of £2,106k for the year, driven by increased costs in resourcing ministry and property maintenance. However, total net assets increased to £119.9m due to significant unrealised gains on property and investments, with free reserves standing at £2.55m, which is above the stated policy target of £1.62m. Its FY2023 accounts were audited by Haysmacintyre LLP.