TRURO DIOCESAN BOARD OF FINANCE LIMITED(THE)

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Francis Clark LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The trustees assess whether the use of the going concern is appropriate i.e. whether there are any material uncertainties relating to events or conditions that may cast significant doubt on the ability of the TDBF to continue as a going concern. The trustees make this assessment in respect of a period of at least one year from the date of the authorisation for issue of the financial statements and have concluded that the TDBF has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the TDBF's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.”

Significant events

• “Bishop David Williams was announced as the new Bishop of Truro in December 2024, he became Bishop of Truro in March 2025 and will be welcomed to the diocese in May 2025.”
• “Trustees authorised significant additional spending on property during 2024, in effect bringing forward expenditure on major works that would have followed in subsequent years. The work was prioritised to support the aim of reducing clergy vacancy rates, and did result in reprofiling the budget mid-year with a consequent additional spend of £1.25m against the original budget.”
• “During 2024 the TDBF team moved from Woodland Court (rented privately) to smaller accommodation rented from Truro Cathedral – the Old Cathedral School.”
• “£1m of the CCLA CBF Global Equity Income Fund was sold in 2024 to realise cash to finance the increased property major works.”
• “All of the investments in renewables were sold in the year and the proceeds were reinvested equally in listed funds already held with Sarasin and Cazenove.”
• “In December 2024 all of the Sarasin Climate Active Endowment Fund was sold with the proceeds being immediately invested into a non fossil fuel Fund with Sarasin. No costs were charged for this transaction.”
• “On 1 April 2024, the TDBF closed its Defined Benefits Scheme and the three lay staff who were in the scheme transferred across to the Pension Builder Scheme (previously known as the Defined Contributions Scheme (DCS)), part of the Church Workers Pension Fund.”
• “Since 31 December 2023, the Board has entered into a full buy-in agreement with Aviva to insure all accrued benefits within the DBS of the CWPF.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

9

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +2.9%

  £5,846,615 → £6,014,002

• Cash

  -61.4%

  £7,281,025 → £2,809,592

• Net assets

  +0.1%

  £119,923,025 → £120,049,893

• Employees

  +8.3%

  48 → 52

• Operating profit

  -65.5%

  -£3,119,774 → -£5,164,632

• Wages

  +13.2%

  £1,306,831 → £1,479,732

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers