THE NORWICH DIOCESAN BOARD OF FINANCE LIMITED
Latest income
£13.4m
Latest spending
£13.0m
Registered
1966
Accounts read
FY2024
Financial health, per its FY2024 accounts
The accounts state that the charity reported an operating deficit of £77k for the year, which the trustees consider satisfactory given the context of rising costs and clergy vacancies. Free reserves stood at £6.3 million, exceeding the trustees' recommended policy target of approximately £4 million, providing a buffer against financial volatility.
What the accounts disclose
Reserves policy: approximately £4 million (held: £6.3m)
“The Trustees have reviewed the reserves policy and recommend that the free reserves are approximately £4 million being four and a half months expenditure within the Capital and General fund and designated funds, including future stipend payments.” — page 16
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: The Board leases the Horstead Conference Centre to the Horstead Centre over a fifty year lease at £12 per annum. The market value of this rent is £18,000 per annum.
“The Board leases the Horstead Conference Centre to the Horstead Centre over a fifty year lease at £12 per annum. The market value of this rent is £18,000 per annum. During the year £5,660 was recharged to Norwich Diocesan Board of Finance Limited by the Horstead Centre in respect of event costs (2023: £3,914), with £Nil outstanding at the year end (2023: £3,003). Nothing was charged to the Horstead Centre by the Board in 2024 (2023: £Nil). ”
“During the year Norwich Diocesan Board of Finance Limited made payments to the Archbishops’ Council for stipends, national insurance and pension contributions of the licensed clergy who are Trustees and provided houses, including the payment of council tax and maintenance costs, as part of normal clergy remuneration.”
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: The Board made payments to the Archbishops’ Council for stipends, national insurance and pension contributions of the licensed clergy who are Trustees and provided houses, including the payment of council tax and maintenance costs, as part of normal clergy remuneration.
“The Board leases the Horstead Conference Centre to the Horstead Centre over a fifty year lease at £12 per annum. The market value of this rent is £18,000 per annum. During the year £5,660 was recharged to Norwich Diocesan Board of Finance Limited by the Horstead Centre in respect of event costs (2023: £3,914), with £Nil outstanding at the year end (2023: £3,003). Nothing was charged to the Horstead Centre by the Board in 2024 (2023: £Nil). ”
“During the year Norwich Diocesan Board of Finance Limited made payments to the Archbishops’ Council for stipends, national insurance and pension contributions of the licensed clergy who are Trustees and provided houses, including the payment of council tax and maintenance costs, as part of normal clergy remuneration.”
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: The Board operates closely with The Diocese of Norwich Education and Academies Trust (DNEAT)... £6,445 (2023: £3,009) was recharged to The Diocese of Norwich Education and Academies Trust (DNEAT) in 2024 by the Consolidated Education Endowments Fund (CEE) and the Norwich Diocesan Board of Finance Ltd, with £6,445 outstanding at the year end (2023: £1,730).
“The Board leases the Horstead Conference Centre to the Horstead Centre over a fifty year lease at £12 per annum. The market value of this rent is £18,000 per annum. During the year £5,660 was recharged to Norwich Diocesan Board of Finance Limited by the Horstead Centre in respect of event costs (2023: £3,914), with £Nil outstanding at the year end (2023: £3,003). Nothing was charged to the Horstead Centre by the Board in 2024 (2023: £Nil). ”
“During the year Norwich Diocesan Board of Finance Limited made payments to the Archbishops’ Council for stipends, national insurance and pension contributions of the licensed clergy who are Trustees and provided houses, including the payment of council tax and maintenance costs, as part of normal clergy remuneration.”
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Some of the Trustees of the Board are also Trustees of the Anne French Memorial Trust. £67,063 was recharged to The Anne French Memorial Trust in 2024 (2023: £46,761), with £21,520 outstanding at the year end (2023: £14,304). Grants totalling £45,775 were given towards clergy housing costs, mediation and DBE administration, this income is released to match expenditure (2023: £35,000).
“The Board leases the Horstead Conference Centre to the Horstead Centre over a fifty year lease at £12 per annum. The market value of this rent is £18,000 per annum. During the year £5,660 was recharged to Norwich Diocesan Board of Finance Limited by the Horstead Centre in respect of event costs (2023: £3,914), with £Nil outstanding at the year end (2023: £3,003). Nothing was charged to the Horstead Centre by the Board in 2024 (2023: £Nil). ”
“During the year Norwich Diocesan Board of Finance Limited made payments to the Archbishops’ Council for stipends, national insurance and pension contributions of the licensed clergy who are Trustees and provided houses, including the payment of council tax and maintenance costs, as part of normal clergy remuneration.”
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: The Diocese of Norwich Churches Trust was established during 2015. This is a Charitable Incorporated Organisation (CIO) set up to relieve incumbents and PCC members with very small congregations, from the burden and responsibility of the Churches running costs. Some of the Trustees of the Board are also trustees of this Trust. Nothing was due at the year end to the Trust by the Norwich Diocesan Board of Finance Limited in respect of fees (2023: £nil).
“The Board leases the Horstead Conference Centre to the Horstead Centre over a fifty year lease at £12 per annum. The market value of this rent is £18,000 per annum. During the year £5,660 was recharged to Norwich Diocesan Board of Finance Limited by the Horstead Centre in respect of event costs (2023: £3,914), with £Nil outstanding at the year end (2023: £3,003). Nothing was charged to the Horstead Centre by the Board in 2024 (2023: £Nil). ”
“During the year Norwich Diocesan Board of Finance Limited made payments to the Archbishops’ Council for stipends, national insurance and pension contributions of the licensed clergy who are Trustees and provided houses, including the payment of council tax and maintenance costs, as part of normal clergy remuneration.”
Per its FY2024 accounts as filed with the Charity Commission.
Trading subsidiary: Spire Support Services Limited, NDBF (Easton) Limited, Norwich Glebe Property Limited
“The Board has three trading subsidiaries, Spire Support Services Limited, Norwich Glebe Property Limited and NDBF Easton Limited (see note 33).” — page 12
Per its FY2024 accounts as filed with the Charity Commission.
Leadership, per the charity’s website
- Graham Usher — Bishop of Norwich
- Jane — Bishop
- Ian — Bishop
- Catherine — Archdeacon
- Keith — Archdeacon
Funders the charity credits
- Clergy Support Trust
- Edward Storey Foundation
Structured financials (annual return, FY ending 31/12/2024)
Total income
£13.4m
Total spending
£13.0m
Cost of raising funds
£675k
Reserves (reported)
£6.3m
Employees
51
Register events
- Received assets from another charity (30/03/2023)
- Received assets from another charity (23/11/2022)
- Received assets from another charity (25/10/2022)
- Received assets from another charity (25/04/2022)
Trustees
- Mark Jeffrieschair
- Angela Shireen Robson
- Catherine Howe
- Kandara Rachelle KAMMOUN
- Mark Allbrook
- Mark Richard Little
- Paul Cracknell
- Rev Matthew James Price BEM
- Rev Simon Stokes
- Rev Stephen Thorp
- Revd. Dr. Patrick Richmond
- Rt Revd Graham Usher
- Susan Gail Martin
- The Rt Revd Dr Jane Steen
- The Rt Revd Ian Bishop
- The Ven Catherine Dobson
- The Ven Keith James
- The Ven STEVEN JAMES BETTS
- The Very Revd Andrew Braddock
- Thompson Zulu
- Virginia Edgecombe
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £13.4m | £13.0m |
| 31/12/2023 | £13.0m | £12.9m |
| 31/12/2022 | £13.7m | £12.2m |
| 31/12/2021 | £14.3m | £12.8m |
| 31/12/2020 | £12.3m | £12.3m |
Common questions
Is THE NORWICH DIOCESAN BOARD OF FINANCE LIMITED financially healthy?
The accounts state that the charity reported an operating deficit of £77k for the year, which the trustees consider satisfactory given the context of rising costs and clergy vacancies. Free reserves stood at £6.3 million, exceeding the trustees' recommended policy target of approximately £4 million, providing a buffer against financial volatility. Its FY2024 accounts were audited by Lovewell Blake LLP.
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The National Lottery Heritage Fund | 18/09/2018 | £9k | "Barnham Broom and Upper Yare Benefice Remembrance Project 2018" |
| The National Lottery Heritage Fund | 23/06/2016 | £250k | "Revitalising St Martin's Church, Thompson" |
| The National Lottery Heritage Fund | 18/05/2016 | £55k | "Exploring Norfolk Churches - A Toolkit for Teachers" |
| The National Lottery Heritage Fund | 17/09/2015 | £213k | "Re thatching the church roof" |
| The National Lottery Heritage Fund | 12/09/2013 | £158k | "Ranworth Rood Screen Project" |
| The National Lottery Heritage Fund | 29/03/2012 | £7k | "Anmer Jubilee Bells Appeal" |
| The National Lottery Heritage Fund | 14/02/2003 | £28k | "Repair of the Coke Monuments" |
| The National Lottery Heritage Fund | 06/12/2000 | £53k | "St Margarets Churchyard, West Raynham - Restoration" |