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2022-12-31-accounts

Parochial Church Council of the Ecclesiastical Parish of Crewkerne

Report and Accounts

Year ended 31 December 2022

PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE

CHARITY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2022

Members of the Parochial Church Council Rev CJ Davis (appointed 13 January 2022) (incumbent and chairman)
Mrs C Newman Church Warden
Mrs P Smith Church Warden
Rev D Newman
Miss D Brown
Miss A Caddy
Mrs H Leamon (resigned May 2022)
Mrs S Clark (resigned May 2022)
Mrs A Cossins
Mrs J Cox
Mrs M Curtis (resigned Feb 2022)
Mrs V Curtis
Mrs H Royle (resigned December 2022)
Mr A Taylor (resigned October 2022)
The Very Rev R Key
Mr G Harrison (appointed October 2022)
Ms C Duncan-Smith (appointed November 2022)
Mr J Jevons (appointed December 2022)
Charity Registration Number 1127639
Charity Name St Bartholomews, Crewkerne
Principal Address St Bartholomew's Curch
Abbey Street
Crewkerne
TA18 7HY
Independent Examiner Sarah Crispin ACA
Stewardship
1 Lamb's Passage
London
EC1Y 8AB
Bankers Natwest Bank
10 East Street
Ilminster
Somerset
TA19 0AA
Contents Page
Charity Information 1
Annual Report of the Members of the Parochial Church Council 2-4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Accounts 8-15
Detailed Statement of Financial Activities with Comparatives 16

Page 1

PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE

ANNUAL REPORT OF THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL

FOR THE YEAR ENDED 31 DECEMBER 2022

The Members of the Parochial Church Council (the 'PCC'), who are the charity's trustees for the purposes of charity law, have pleasure in presenting their report together with the financial statements for the year.

Objects of the charity

The charity is responsible for co-operating with the Incumbent, in promoting in the ecclesiastical parish, the whole mission of the Church be it pastoral, evangelistic, social or ecumenical. The PCC is also responsible for maintaining certain church property, namely St Bartholomew's Parish Church and Church Hall, Crewkerne and the Church of the Good Shepherd, Hewish,Somerset.

Summary of the charity's main activities and achievements

To further the above objects and vision, the charity's main activities and achievements were as follows:

A service of Holy Communion was held on each Sunday and Wednesday morning. The live streaming equipment made it possible to view Sunday Services on YouTube. The Church has been open for prayer and/or visiting on each day of the year. The Trustees have paid due regard to the guidance given by the Charity Commission on public benefit when deciding what activities the charity should undertake.

An 'All Age' Service on the 3rd Sunday of each month was started during the year with a Sunday Club being held for children up to the age of 11 on most other Sundays.

Schools in the area have been able to use the Church for special events and services. Easter, Remembrance Day and Christmas services were well supported. In the Church Hall, 'Little Sunbeams', a mother and baby group meet once a week during the school term, 'Coffee Pot', a coffee morning and Mothers Union meet once a month. A picnic lunch was held to celebrate both Pentecost and the Queen's 70th Jubilee. A civic memorial service was held on 18th September following the death of Her Majesty, Queen Elizabeth II.

House groups for Bible study and a monthly Prayer Meeting have been introduced.

The Church maintains a regularly updated website and the 'Voice', a monthly parish magazine.

In planning the activities the PCC have applied the guidance on public benefit issued by the Charity Commission.

Structure, Governance and Management

The charity is registered with the Charity Commission and operates under the Charities Act 2011. The governing documents for the charity are the Parochial Church Councils (Powers) Measure 1956 (as amended) and the Church Representation Rules.

The appointment of PCC members is governed by, and set out in, the Church Representation Rules. The PCC comprises ex-officio members (which includes clergy and churchwardens), elected members and co-opted members. The PCC organise elections annually before the Annual Parochial Church Meeting (APCM) to fill vacancies.

Page 2

PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE

ANNUAL REPORT OF THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL

FOR THE YEAR ENDED 31 DECEMBER 2022

Responsibility for setting policy and for making operating decisions rests with the PCC who meet regularly to agree the activities of the charity and monitor the financial performance. Responsibility for the day to day operation of the charity has been delegated to a Standing Committee led by the incumbent.

Financial review

During the year income decreased by £2,606, to £67,472, and expenditure increased by £1,604, to £87,828. As a result the deficit for the year before investment gains/losses increased by £4,209, to £20,356. Investment losses were £56,995 and the charity's net assets decreased to £457,484 and net current assets decreased to £30,362.

Reserves policy

The PCC have determined that the charity should aim to hold unrestricted cash of no less than £15,000 (which equates to about 2 months' of unrestricted expenditure) so that the charity could continue to operate should income and / or expenditure vary adversely. At the year end, the charity held unrestricted cash of £23,523 and the charity is complying with its reserves policy.

Going concern

There are no going concern uncertainties

Key risks and uncertainties

The charity is exposed to various risks - be they operational, financial or reputational. The PCC review the charity's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks.

Other matters

With regard to the PCC’s obligations to safeguard children and vulnerable adults, the members of the PCC confirm that they have complied with their duties under section 5 of the Safeguarding and Clergy Discipline Measure 2016.

The Diocese have assessed the PCC’s Parish Share to be £46,012 for the year to 31 December 2022; having reviewed the PCC’s finances, the members of the PCC have paid this assessment in full.

The last quinquennial inspection was held in 2020; Having revisited its findings, the members of the PCC have determined that some immediate external work is now required; this is expected to cost up to £5,000. During 2022 water ingress has caused deterioration of the wooden floor of the Woolminstone Chapel. This problem and the replacement of a leaking radiator requires repair in the next 6 months, with an anticipated cost of £12,000.

Page 3

PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE

ANNUAL REPORT OF THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL

FOR THE YEAR ENDED 31 DECEMBER 2022 Statement of Responsibilities of the Members of the Parochial Church Council

The PCC is responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the PCC to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity as at the balance sheet date and of its incoming resources and application of resources for the financial year. In preparing these financial statements, the PCC are required to:

  1. select suitable accounting policies and apply them consistently;

  2. observe the methods and principles in the Charities SORP;

  3. make judgements and estimates that are reasonable and prudent;

  4. state whether the applicable accounting standards have been followed, subject to any material

departures disclosed and explained in the financial statements; and

  1. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

Approval

This report was approved by the PCC and signed on their behalf by:

Rev CJ Davis

_______ Rev CJ Davis

Date: 15 May 2023

Page 4

INDEPENDENT EXAMINER'S REPORT

TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF

PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE ('the Charity')

I report to the members of the PCC (who are also the charity's trustees) on my examination of the accounts of the Charity for the year ended 31 December 2022 on pages 6 to 16 following, which have been prepared on the basis of the accounting policies set out on pages 8 and 9.

Responsibilities and basis of report

As members of the PCC you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Sarah Crispin

Sarah Crispin ACA Stewardship 1 Lamb's Passage London EC1Y 8AB

Date: 18 May 2023

Page 5

PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2022

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
Total income and endowments
EXPENDITURE ON:
Charitable activities
7
Total expenditure
Net gains/(losses) on investments
Net income/(expenditure)
Transfers between funds
14
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
14		 Unrestricted
Funds
£
43,051
1,491
8,073
10,082
62,697
87,828
87,828
(44,842)
(69,973)
-
(69,973)
417,031
347,058		 Restricted
Funds
£
2,000
-
-
2,167
4,167
-
-
(10,107)
(5,940)
-
(5,940)
85,380
79,440		 Endowment
Funds
£
-
-
-
608
608
-
-
(2,046)
(1,438)
-
(1,438)
32,424
30,986		 Total
Funds
2022
£
45,051
1,491
8,073
12,857
67,472
87,828
87,828
(56,995)
(77,351)
-
(77,351)
534,835
457,484		 Total
Funds
2021
£
49,952
559
6,835
12,732
70,078
86,224
86,224
61,677
45,531
-
45,531
489,304
534,835

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing operations.

The notes on page 8-15 form part of these accounts.

Page 6

PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE

BALANCE SHEET

AS AT 31 DECEMBER 2022

Note
FIXED ASSETS
Tangible assets
9
Investments
10
CURRENT ASSETS
Debtors
11
Cash at bank and in hand
12
CREDITORS: Amounts falling
due within one year
13
Net current assets / (liabilities)
Total assets less current liabilities
TOTAL NET ASSETS
FUND BALANCES
14
Unrestricted Funds
Restricted Funds
Endowment Funds		 Unrestricted
Funds
£
2,527
336,069
338,596
5,188
23,523
28,711
(20,249)
8,462
347,058
347,058
347,058
-
-
347,058		 Restricted
Funds
£
-
73,160
73,160
-
6,280
6,280
-
6,280
79,440
79,440
-
79,440
-
79,440		 Endowment
Funds
£
-
15,366
15,366
-
15,620
15,620
-
15,620
30,986
30,986
-
-
30,986
30,986		 Total
Funds
2022
£
2,527
424,595
427,122
5,188
45,423
50,611
(20,249)
30,362
457,484
457,484
347,058
79,440
30,986
457,484		 Total
Funds
2021
£
5,054
481,590
486,644
7,216
49,162
56,378
(8,187)
48,191
534,835
534,835
417,031
85,380
32,424
534,835

The financial statements were approved by the members of the PCC and were signed on its behalf by:

Rev CJ Davis

--------------------------------------Rev CJ Davis

Date: 15 May 2023

Charity number: 1127639

The notes on page 8-15 form part of these accounts.

Page 7

PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1 Statutory Information

The Parochial Church Council of the Ecclesiastical Parish of Crewkerne is a charity registered with the Charity Commission in England & Wales. The charity's registered number and principal address can be found on the Charity Information page.

2 Accounting Policies

These financial statements are prepared on a going concern basis, under the historical cost convention. The financial statements include all activities for which the PCC is legally responsible; the activities of informal gatherings of church members and groups that owe their main affiliation to another body and are excluded.

These financial statements have been prepared in accordance with The Church Accounting Regulations 2006, the 'Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)' ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102") and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

The Charities (Accounts and Reports) Regulations 2008 (the '2008 Regulations') requires charities to prepare their accounts in accordance with 'Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005' but this accounting standard has since been withdrawn and has been replaced by the Charities SORP mentioned in the preceding paragraph. The charity has prepared these financial statements in accordance with the new Charities SORP; this departure from the 2008 Regulations is believed to be necessary for these financial statements to give a 'true and fair view'.

The principles adopted in the preparation of the financial statements are set out below.

a) Going concern

The PCC have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The PCC have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the PCC have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The PCC have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

b) Income

Income (which includes planned giving, collections and other donations) is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part income is generally recognised when it is received by, or on behalf of, the PCC. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from donations and legacies includes:

Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from social events held by the church.

Income from other trading activities represents income receivable from activities undertaken to generate funds for the charity. It includes income from weddings, funerals and the parish magazine.

Investment income represents income generated by the charity's assets and includes income arising for the investments and bank interest.

Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Page 8

PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

Contributions in respect of the diocesan parish share are included in the Statement of Financial Activities for all amounts agreed to being payable for the financial year. Any contributions that have not been paid over by the year end are included as a creditor.

The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.

Expenditure on raising funds comprises the costs incurred on commercial trading activities, fundraising and managing investments.

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.

d) Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the PCC in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the PCC for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects. Endowment funds are donations that are retained as capital in accordance with the donor's wishes. The nature of the restriction determines whether the endowments represent permanent endowments or expendable endowments.

e) Tangible fixed assets

Consecrated and beneficed property is not included in these financial statements by virtue of s.10(2) of the Charities Act 2011. All expenditure on consecrated or beneficed buildings is written off in the year in which it is incurred.

Movable church furnishings held by the incumbent and Churchwardens on special trust for the PCC and which require a faculty for disposal are capitalised in accordance with the policy set out below. These items are regarded as inalienable property and are listed in the church's inventory which can be inspected at any reasonable time. Inalienable property acquired prior to 2000 has not been capitalised as there is insufficient cost information available.

The church halls and certain clergy accommodation are held in trust by the Diocese on behalf of the PCC. These properties are essential for the mission of the church and have been in use for many years but they have not been included in these financial statements as there is insufficient cost information and their depreciated cost is unlikely to be material.

Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £1,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:

Freehold land Is not depreciated (because it is not consumed by use)
Freehold buildings Over 50 years after taking account of the building's residual value
Leasehold improvements Over the lease term or, if shorter, expected useful life
Equipment Over 3 years

The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.

g) Taxation

h) Financial instruments

Page 9

PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

3 Donations and legacies

Planned giving - Gift Aid
Other planned giving
Church collections
Church boxes and other donations
Legacies receivable
Income tax recoverable
4
Income from charitable activities
Social events and coffee sales
Christmas tree festival
Book sales
5
Income from other trading activities
Church Hall lettings
Wedding fees
Funeral fees
Magazine income
6
Investment income
Dividends
Bank interest
7
Charitable expenditure
a
Costs incurred directly on specific activities
Ministry expenses:
Parish share
Ministry staff employment costs
Clergy expenses
Other ministry expenses
Cost of events
Parish magazine and bookstall
Training costs
Property expenses:
Operational costs for church
Major repairs to church
Operational costs for church hall
Grants payable		 2022
£
23,933
2,496
4,496
3,344
3,000
7,782
45,051
2022
£
1,351
-
140
1,491
2022
£
-
1,338
2,743
3,992
8,073
2022
£
12,723
134
12,857
2022
£
46,012
6,604
1,429
1,485
391
2,381
-
58,302
8,197
2,238
3,469
13,904
68
72,274		 2021
£
21,847
2,407
4,359
928
11,854
8,557
49,952
2021
£
127
432
-
559
2021
£
256
2,098
3,167
1,314
6,835
2021
£
12,709
23
12,732
2021
£
46,815
7,116
(4)
501
-
-
88
54,516
12,378
1,226
3,616
17,220
1,170
72,906

Page 10

PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

b
Costs incurred on support & administration
Governance costs
Independent examiner's fee
Other
Administrative staff employment costs
Printing, postage and stationery
Subscriptions and professional fees
Office costs
Depreciation of tangible fixed assets
Insurance
Total expenditure		 1,020
504
1,524
4,217
72
288
1,504
2,527
5,422
15,554
87,828		 720
2,187
2,907
3,387
255
202
804
2,527
3,236
13,318
86,224

The fee payable to the independent examiner for examining the accounts was £1,020 (2021: £720); in addition the charity paid £217 (2021: £nil) to Stewardship for payroll bureau.

8 Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses

The average monthly number of employees during the year was 1 (2021: 0). Most of the charity's activities are carried out by l t

No staff received salaries at a rate of more than £60,000 per annum.

The charity's key management comprise the members of the PCC and the key staff named on the Charity Information page. Total employment benefits payable to key management for the year were as follows:

Other
Employer
Wages &
employment
pension
salaries
benefits
contributions
Members of the PCC
Gordon Harrison
3,640
-
-		 2022
£
3,640
3,640

The amounts payable in the previous year were £nil.

Gordon Harrison served as church administrator from September and received the above payments for serving in that capacity, not for serving as a member of the PCC; these payments are permitted by the charity's governing document.

Rev CJ Davis (who is a clergy member of the PCC) received a stipend from the Diocese and so he is not an employee; some of the Parish Share paid to the Diocese is used to help meet the cost of these stipends. Rev CJ Davis was provided with accommodation (which is customary for clergy) and the cost of this accommodation to the PCC is disclosed in note 8 'Charitable Expenditure'. The charity also reimbursed expenses to Rev CJ Davis; again these costs are disclosed in note 8 'Charitable Expenditure' under the heading 'Clergy expenses'.

Payroll costs included redundancy and termination payments totalling £nil (2021: £3,387) and comprise statutory payments and exgratia payments where this was considered appropriate. Redundancy and termination payments are charged when the liability or obligation arises.

Page 11

PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

9 Tangible fixed assets

Cost
At 1 January 2022
Additions
Gains / (losses) on revaluation
Disposals
At 31 December 2022
Accumulated depreciation
At 1 January 2022
Charge for the year
Eliminated on disposal
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021
10
Fixed asset investments
Cost or fair value brought forward
Purchases during the year
Disposals during the year
Change in value of investments
Provision for impairment
Cost or fair value carried forward
Cost as at 31 December 2022
11
Debtors
Falling due within one year:
Trade debtors
Prepayments and accrued income
12
Cash at Bank and in Hand
Cash at bank with immediate access
Notice deposits (with a term of three months or less)
Petty cash
13
Creditors: liabilities falling due within one year
Trade creditors
Accruals		 Freehold
Property
£
-
-
-
-
-
-
-
Tompsett
Investment
209,327
-
-
(24,780)
-
184,547
62,235		 Leasehold
Improvements
£
-
-
-
-
-
-
-
Lang
Endowment
17,412
-
-
(2,046)
-
15,366
6,609		 Fixtures,
fittings and
equipment
£
9,021
9,021
3,967
2,527
6,494
2,527
5,054
Isaacs
Investment
254,851
-
-
(30,169)
-
224,682
150,000		 Vehicles
£
-
-
-
-
-
-
-
2022
£
481,590
-
-
(56,995)
-
424,595
218,844
2022
£
957
4,231
5,188
2022
£
32,728
12,602
93
45,423
2022
£
7,210
13,039
20,249		 Total
2022
£
9,021
-
-
-
9,021
3,967
2,527
-
6,494
2,527
5,054
2021
£
439,913
-
(5,732)
47,409
-
481,590
218,844
2021
£
3,181
4,035
7,216
2021
£
36,550
12,602
10
49,162
2021
£
30
8,157
8,187

Page 12

PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

14 Funds

During the year the movements in the charity's funds were as follows:

Designated Funds
Hewish Church
Rector's Discretionary Fund
General Unrestricted Funds
Unrestricted Funds
Clock
Mission
Music
Pew cushions
Roof
West Window and Fabric
Bells and bell tower
Restricted Funds
Endowment Funds
Aggregate of funds		 Opening
balance
2022
£
18,740
-
18,740
398,291
417,031
10,430
1,975
8,147
1,580
58,199
5,050
-
85,380
32,424
534,835		 Incoming
resources
2022
£
2,643
780
3,423
59,274
62,697
265
50
207
40
1,477
128
2,000
4,167
608
67,472		 Outgoing
resources
2022
£
(1,993)
(100)
(2,093)
(85,735)
(87,828)
-
-
-
-
-
-
-
-
-
(87,828)		 Transfers
in the year
2022
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Gains and
losses
2022
£
-
-
-
(44,842)
(44,842)
(1,235)
(234)
(964)
(187)
(6,889)
(598)
-
(10,107)
(2,046)
(56,995)		 Closing
balance
2022
£
19,390
680
20,070
326,988
347,058
9,460
1,791
7,390
1,433
52,786
4,580
2,000
79,440
30,986
457,484

Analysis of net assets by fund

The assets and liabilities of the various funds were as follows:

Tangible fixed assets
Debtors
Investments
Cash at bank and in hand
Creditors falling due within one year		 Unrestricted
funds
£
2,527
5,188
336,069
(547)
(16,249)
326,988		 Designated
funds
£
-
-
-
24,070
(4,000)
20,070		 Restricted
funds
£
-
-
73,160
6,280
-
79,440		 Endowment
funds
£
-
-
15,366
15,620
-
30,986		 2022
£
2,527
5,188
424,595
45,423
(20,249)
457,484

Page 13

PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

In the previous year the movements in the charity's funds were as follows:

Designated Funds
Hewish Church
General Unrestricted Funds
Unrestricted Funds
Clock
Flowers
Mission
Music
Pew cushions
Roof
West Window and Fabric
Streaming equipment
Restricted Funds
Endowment Funds
Aggregate of funds		 Opening
balance
2021
£
17,958
17,958
368,448
386,406
8,898
331
1,685
6,951
1,348
49,655
4,309
73,177
29,721
489,304		 Incoming
resources
2021
£
3,736
3,736
58,189
61,925
258
-
49
202
39
1,440
125
5,500
7,613
540
70,078		 Outgoing
resources
2021
£
(2,954)
(2,954)
(82,939)
(85,893)
(331)
(331)
-
(86,224)		 Transfers
in the year
2021
£
-
5,500
5,500
(5,500)
(5,500)
-
-		 Gains and
losses
2021
£
-
49,093
49,093
1,273
241
994
193
7,103
616
10,421
2,163
61,677		 Closing
balance
2021
£
18,740
18,740
398,291
417,031
10,430
-
1,975
8,147
1,580
58,199
5,050
-
85,380
32,424
534,835

Analysis of net assets by fund

In the previous year, the assets and liabilities of the various funds were as follows:

Tangible fixed assets
Debtors
Investments
Cash at bank and in hand
Creditors falling due within one year		 Unrestricted
funds
£
5,054
7,216
380,911
8,998
(3,888)
398,291		 Designated
funds
£
-
-
-
23,039
(4,299)
18,740		 Restricted
funds
£
-
-
83,267
2,113
-
85,380		 Endowment
funds
£
-
-
17,412
15,012
-
32,424		 2021
£
5,054
7,216
481,590
49,162
(8,187)
534,835

Designated Funds

The Hewish Church fund represents the income and expenditure associated with the Hewish Church. The Rector's Discretionary Fund is designated for his use for pastoral needs as they arise.

Restricted Funds

The Clock fund is for repair and maintenance of the clock. The Mission fund restricted to expenditure on Christian Literature

The Music fund is restricted to expenditure on the repair & service of the Church Organ The Pew cushions fund is restricted to the repair and replacement of the pew cushions The Roof fund is restricted to expenditure on roof maintenence

The West Window and Fabric fund is restricted to expenditure on building repairs The Bells and bell tower fund is restricted to expenditure on refurbishment of the bells and tower.

Page 14

PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

Endowment Funds

Income from the E S Lang Fund supports the costs of assistant clergy in the parish. The c/f balance on the fund was £15,366. Income from the Sparks Fund is unrestricted by the PCC intends the money to be used for education in the parish. The c/f balance on the fund was £15,620.

15 Transactions with related parties

During the year the charity:

16 Reconciliation with previously reported funds

During the year the charity changed its accounting policy for investments and the previous year's results have been restated. Investments are now correctly valued at market value per the SORP rather than at cost. During the year the charity identified a material error in the results reported previously. This error relates to the figures for the daughter church at Hewish not being included with the figures. The comparatives presented in these accounts have been re-stated so that they reflect the application of the new accounting policy and the correction of the error and a reconciliation with the reserves and results reported previously follows:

Reconciliation of reserves

onciliation of reserves
2021
£
Previously reported reserves, at 31 December
247,616
Adjustments arising from change of accounting policy and correction of an error in the previous period:
Hewish reserves as at 31 December 2020
17,958
Hewish movement in funds for the 2021 year
782
Revalue of investments to market value as at 31 December 2020
221,069
Market value movement in investments for the year
47,409
Re-stated reserves, at 31 December
534,834		 2020
£
250,277
17,958
-
221,069
489,304

Reconciliation of results

onciliation of results
2021
£
Previously reported results (2,661)
Adjustments arising from change of accounting policy and correction of an error in the previous period:
Hewish reserves as at 31 December 2020 -
Hewish movement in funds for the 2021 year 782
Revalue of investments to market value -
Market value movement in investments for the year 47,409
Re-stated results 45,530

Page 15

PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES

FOR THE YEAR ENDED 31 DECEMBER 2022

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
Total income and endowments
EXPENDITURE ON:
Charitable activities:
7
Total Expenditure
Net gains/(losses) on investments
Net income/(expenditure)
Transfers between funds
14
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
14		 Unrestricted
2022
£
39,708
1,449
8,073
10,044
59,274
85,735
85,735
(44,842)
(71,303)
-
(71,303)
398,291
326,988		 Designated
2022
£
3,343
42
-
38
3,423
2,093
2,093
-
1,330
-
1,330
18,740
20,070
Fu		 Restricted
2022
£
2,000
-
-
2,167
4,167
-
-
(10,107)
(5,940)
-
(5,940)
85,380
79,440
nds		 Endowment
2022
£
-
-
-
608
608
-
-
(2,046)
(1,438)
-
(1,438)
32,424
30,986		 Total
2022
£
45,051
1,491
8,073
12,857
67,472
87,828
87,828
(56,995)
(77,351)
-
(77,351)
534,835
457,484		 Unrestricted
2021
£
41,588
432
6,092
10,077
58,189
82,939
82,939
49,093
24,343
5,500
29,843
368,448
398,291		 Designated
2021
£
2,864
127
743
2
3,736
2,954
2,954
-
782
-
782
17,958
18,740
Fu		 Restricted
2021
£
5,500
-
-
2,113
7,613
331
331
10,421
17,703
(5,500)
12,203
73,177
85,380
nds		 Endowment
2021
£
-
-
-
540
540
-
-
2,163
2,703
-
2,703
29,721
32,424		 Total
2021
£
49,952
559
6,835
12,732
70,078
86,224
86,224
61,677
45,531
-
45,531
489,304
534,835

Page 16