THE BATH AND WELLS DIOCESAN BOARD OF FINANCE
Latest income
£17.0m
Latest spending
£14.9m
Registered
1966
Accounts read
FY2024
Financial health, per its FY2024 accounts
The accounts state that unrestricted reserves decreased by £0.23m during the year, with free reserves standing at £2.4m, which is below the stated policy target of three to six months' expenditure. The diocese faces significant financial pressures, relying on the sale of surplus property and drawing from endowed funds to cover operating deficits and lower-than-budgeted parish share receipts.
What the accounts disclose
Reserves position: below the charity's own stated reserves policy
“As at 31 December 2024 free reserves stood at £2.4m (2023 - £2.6m) which is around two months’ expenditure.”
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: The DBF pays retirement benefit contributions to the Church of England Pensions Board for stipendiary clergy and employees.
“The Church of England Pensions Board to which the DBF pays retirement benefit contributions for stipendiary clergy and employees.” — page 16
“The Chapter of Wells Cathedral from which the DBF receives modest alms. Some diocesan events held in the Cathedral are paid for by the DBF. The DBF provides HR and Safeguarding services to the Chapter under service level agreements.” — page 16
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: The DBF receives modest alms from the Chapter of Wells Cathedral and provides HR and Safeguarding services to them.
“The Church of England Pensions Board to which the DBF pays retirement benefit contributions for stipendiary clergy and employees.” — page 16
“The Chapter of Wells Cathedral from which the DBF receives modest alms. Some diocesan events held in the Cathedral are paid for by the DBF. The DBF provides HR and Safeguarding services to the Chapter under service level agreements.” — page 16
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: The DBF receives grants from the Foundation of St Matthias, of which three DBF employees are trustees.
“The Church of England Pensions Board to which the DBF pays retirement benefit contributions for stipendiary clergy and employees.” — page 16
“The Chapter of Wells Cathedral from which the DBF receives modest alms. Some diocesan events held in the Cathedral are paid for by the DBF. The DBF provides HR and Safeguarding services to the Chapter under service level agreements.” — page 16
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: The Bath and Wells Multi Academy Trust rents meeting space from the DBF, and the DBF provides educational services to BWMAT.
“The Church of England Pensions Board to which the DBF pays retirement benefit contributions for stipendiary clergy and employees.” — page 16
“The Chapter of Wells Cathedral from which the DBF receives modest alms. Some diocesan events held in the Cathedral are paid for by the DBF. The DBF provides HR and Safeguarding services to the Chapter under service level agreements.” — page 16
Per its FY2024 accounts as filed with the Charity Commission.
Trading subsidiary: Bath and Wells DBF Services Ltd
“These financial statements consolidate the results of the charitable company and its wholly owned subsidiary on a line-by-line basis. The subsidiary is Bath and Wells DBF Services Ltd.” — page 35
Per its FY2024 accounts as filed with the Charity Commission.
Structured financials (annual return, FY ending 31/12/2024)
Total income
£17.0m
Total spending
£14.9m
Cost of raising funds
£502k
Reserves (reported)
£2.4m
Employees
83
Register events
- Received assets from another charity (21/11/2018)
- Received assets from another charity (26/11/2017)
Trustees
- Ann Kathleen Philcox
- Dr AXEL ANTHONY PALMER
- Dr Caroline Frances Mason
- Elizabeth Renshaw-Ames
- Hayden Lloyd Taylor
- James Loring
- Kathryn Louise Slader Tucker
- Kevin Lawrence
- Marilyn Lee
- Michael Hodson
- Morey Alisdair Christopher Andrews
- Philip Charles Edge
- Rev Ann Elizabeth Fulton
- Rev Craig Edward Philbrick
- Rev Jonathan Philip Ball
- Rev ROGER DRIVER
- Rev Richard James Miles
- Rev Rona Stuart-Bourne
- Revd Preb Narinder Tegally
- Robert Dean
- Rt Revd Noel Michael Roy Beasley
- The Rt Revd Dr Fiona Ruth Gibson
- The Ven Charles Scott Peer
- The Venerable Simon Hill
- The Very Reverend Toby Christopher Wright
- Tracey Jane Khodabandehloo
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £17.0m | £14.9m |
| 31/12/2023 | £15.6m | £15.1m |
| 31/12/2022 | £15.3m | £15.2m |
| 31/12/2021 | £12.1m | £15.6m |
| 31/12/2020 | £13.7m | £15.9m |
Common questions
Is THE BATH AND WELLS DIOCESAN BOARD OF FINANCE financially healthy?
The accounts state that unrestricted reserves decreased by £0.23m during the year, with free reserves standing at £2.4m, which is below the stated policy target of three to six months' expenditure. The diocese faces significant financial pressures, relying on the sale of surplus property and drawing from endowed funds to cover operating deficits and lower-than-budgeted parish share receipts. Its FY2024 accounts were audited by Sayer Vincent LLP.
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The National Lottery Heritage Fund | 25/11/2014 | £124k | "St Augustine's Heritage Project, West Monkton" |