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2022-12-31-accounts

The Parish of Pangbourne with Tidmarsh and Sulham St James | St Laurence | St Nicholas

2022 ANNUAL REPORT AND ACCOUNTS

of the Parochial Church Council

for the Parish of Pangbourne with Tidmarsh and Sulham

Sharing God’s love with the people we serve

We have undertaken to share the

Common Vision of Oxford Diocese

‘To become more Christlike for the sake of God’s world’

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2022 Annual Report and Financial Statement

Patrons

St James the Less, Pangbourne Church Society Trust St Laurence, Tidmarsh Bishop of Reading St Nicholas Sulham Henry Scutt

PCC Membership and Objectives

The PCC is registered with the Charity Commission (No. 1127943), made up of elected and exofficio PCC members of St James the Less, St Laurence and St Nicholas (in accordance with the Church Representation rules).

Banks

Independent Examiner

Insurance

Statement of Intent

The Parochial Church Council (PCC) of Pangbourne with Tidmarsh and Sulham (PTS) consults and co-operates with the Incumbent ‘in promoting the whole mission of the Church in this parish, pastoral, evangelistic, social and ecumenical.’

Parochial Church Council

Chair Revd Mark Hopkins Elected MembersWilma Grant (PCC Lay Chair and
Secretary Vanessa Saunders2022- Deanery Synod Rep)2021 -2024
Treasurer Stephen Billyeald2020-2023 Jacky Rix-Brown2021 - 2024
Church Wardens Julia Sheppard Penny Billyeald2022-2025
Jill Palfrey (Deanery Vanessa Saunders2020 - 2023
Synod Rep) Dilys Rogers
2020 - 2023
Mark Littledale

Business of the Parochial Church Council 2022

The PCC met seven times and the Standing Committee met three times.

A Report on Changes in the Electoral Roll

In 2022 there were 135 members. The revised roll in April 2023 has 133 members. 2 people came off.

Vanessa Saunders, Electoral Roll Officer

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2022 Annual Report and Financial Statement

PCC Committees

Finance; Buildings

We thank all the committee and group members for all they have contributed, and continue to offer, to the life of the church community in PTS.

PCC Policies in 2022

A Review of 2022

Rector Rev Mark writes…

2022 has proven to be a challenging year nationally and globally, which saw the Russian invasion of Ukraine in February, a rapid rise in inflation, and crises both in the cost of living and the cost of energy impacting many in our society. The sad loss of our monarch and head of the Church of England, Queen Elizabeth II, in September also profoundly impacted our nation.

Against the backdrop of these events, we have sought to be faithful, compassionate, welcoming and hope-filled churches. I am continually grateful for the many, many people who continue to support the work of our churches at Pangbourne, Tidmarsh and Sulham. Especially I want to express my gratitude to our churchwardens, Jill Palfrey, Julia Sheppard and Mark Littledale, our administrator and PCC secretary Vanessa Saunders, and our treasurer Stephen Billyeald, for the tireless work they have continued to do for our parish as well as their support to me as Rector. I am also thankful for and appreciative of all the roles many have played in keeping our churches not only running, but bright, beautiful and bustling from day to day. As each of these reports will show, we have a proud team of flower arrangers led by Sarah Rasmussen, a faithful band of musicians and singers led by Wilma Grant, and regular bell ringing organised by tower captain Len Palfrey. There are many others involved in seen and unseen roles, including those who help manage the churchyards, cleaners, welcomers, events organisers, servers and sacristans. In 2022, the Revered Brian Tims, the Reverend Barry Ashdown and the Reverend Tony Naden have supported me as Rector in the leading of worship, preaching, and undertaking weddings and funerals. Their assistance in this regard is invaluable.

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2022 Annual Report and Financial Statement

2022 started in a positive manner for us as we were invited by the National Gallery in March to host at St James the Less one of the birthday portraits of Catherine, Princess of Wales (then Duchess of Cambridge). It was a great honour to be chosen to exhibit the work due to Princess Kate’s local connection growing up in the area and many visitors came to see the portrait and visit one of our beautiful churches.

Sadly events in Ukraine overshadowed Easter this year and we endeavoured to support the people of Ukraine through prayer, giving and supporting the venture of St Bernadette’s Roman Catholic church to provide a place of welcome for refugees to the area.

June brought with it a time of celebration, with many events and street parties across the villages of Pangbourne, Tidmarsh and Sulham to celebrate the platinum jubilee of Queen Elizabeth II, which our churches were pleased to support. Other joyous events included serving teas at the Pangbourne Fete and hosting a concert in July for the Berkshire Chamber music festival.

From September we established our new St James Café which is open to all the community offering refreshments following the midweek service. Initially the café opened monthly, but we are moving to fortnightly from 2023.

The sad death of Queen Elizabeth II was marked in all our churches, with a condolence book and memorial photo set up in Pangbourne church. The church was open for those wishing to mourn and to receive pastoral support from the clergy.

In the autumn we had a successful harvest supper which included games and folk singing. Our annual Remembrance Sunday parade and church service resumed this year in full at Pangbourne and was well attended by many civic organisations and uniformed groups.

In the Christmas period we had a full range of services across all of our churches, in addition to local Carol Singing at Sulham, and a Christmas tree festival at Pangbourne themed “Christmas around the World” to tie in with the winter football World Cup.

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2022 Annual Report and Financial Statement

I am encouraged by how our churches have fared this year. We have been met with significant financial challenges including increased heating costs but as shown below have managed to break even. Our biggest upcoming challenges will be managing our three buildings to prioritise essential works, and continuing to maintain our pattern of activities and services as we have lost numbers in recent years. However, I take hope from 1 Thessalonians 5:24, “The one who calls you is faithful, and he will do it.”

A Report on the Activities of the Parish in 2022

Parish Vision

A united parish with three churches reaching out to all in our community and beyond as a Christian witness.

Parish Mission

To offer a warm welcome, fellowship and a caring environment to families and worshippers of all ages. To actively grow our church family by encouraging people to learn more about what it means to be a follower of Christ and to continue to serve those in our local and wider community through discipleship and love.

Parish Action Plan

Church Administrator

Vanessa Saunders is employed as the parish administrator.

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2022 Annual Report and Financial Statement

Safeguarding

Parish Safeguarding Officer - Jill Palfrey

Verifier - Vanessa Saunders

All clergy and PCC members have updated their training, which now needs to be revisited every three years. All PCC members need to complete the Basic Awareness Training which can be done online. DBS checks for those who require them also need to be completed every three years, previously they were valid for five years. Those who require a higher level of training, i.e. churchwardens and those leading activities have been working through the requirements. The parish is using the Parish Dashboard programme to ensure we are compliant.

The Safeguarding Policy is reviewed and approved annually by the PCC. A ‘Promoting a Safer Church’ poster is displayed, together with the Parish Safeguard Policy, at each of our three churches. The poster gives contact details for our safeguarding officer and a contact at the diocese. Safeguarding arrangements are also clearly visible on the parish website.

Jill Palfrey

.

Health and Safety

The PCC is mindful of the risks associated with its various activities. The PCC has particular regard to the child protection and vulnerable adult’s requirements at all times.

Insurance

Our insurance provider is Trinitas Insurance and all three churches are covered by one policy.

Mission Partners and Charities Supported in 2022

The Charities we supported in 2022 were as follows: For our Tithe

We also donated to:

Christian Aid

Lent lunches were held in aid of Christian Aid and raised £411. During Christian Aid Week in May, collection buckets and envelopes were available in St James and a collection bucket was put in Garlands shop, which together raised £238. In total £649 was sent to the charity.

Services and Worship in PTS

Our heartfelt thanks go to the lay members of the Ministry Team:

Julia Sheppard, Wilma Grant, Jill Palfrey and Heather Thorne, Mark Littledale, Vanessa Saunders

and to our retired priests with Permission to Officiate:

Rev Barry Ashdown, Rev Tony Naden, Rev Jean Rothery and Rev Brian Tims.

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2022 Annual Report and Financial Statement

Permission to administer the chalice in Communion in 2022 was held by:

Len Palfrey, Hugh Richardson, Julia Sheppard, Martin Holliday, Helen Dunford, Heather Thorne, and Jill Palfrey, Christine Tims

Thank you to those who have taken part in staffing our parish worship.

Occasional Offices

Our thanks go to Penny and Stephen Billyeald for Baptism service ministry.

A special service for those recently bereaved was held at All Souls Tide in St James.

Deanery Synod

Area Dean: The Revd Dr David Archer

Lay Chair: Dr Chris Newman

Parish Deanery Representatives: Wilma Grant and Jill Palfrey, one vacancy

Deanery Synod met 3 times during 2022 on 17 March at St Mary's Purley where the Mission Action Plan and annual inspections were discussed and 7 July at St Mary's Purley where ride and stride and the Parish Share Review 2021/22 was discussed and on 27 October 2022 at St Mary's Burghfield where the Parish Share for 2023 was discussed and the bronze eco award journey for Burghfield.

Deanery Synod representatives are elected for a three-year term and the next elections will be in 2024

Wilma Grant and Jill Palfrey, Deanery Synod Representatives

All Churches Together

ACT representatives, Jacky Rix Brown, Tony Naden, Hugh Richardson, and Dilys Rogers have continued meeting quarterly with representatives from the Basildon Benefice, St. Mary's Purley and St. Bernadette's as liaison between the churches in the district. Tony, Jacky and Hugh continued to act as Chairman, Secretary and Treasurer respectively.

We were able to organise some of the events which had been our remit in previous years, in some cases after cancellation or major restructuring in 2020-21 because of the COVID pandemic.

Thus, we held a live service of prayer for Christian unity at St. Mary’s, Purley in May. In-line with our previous feeling that the central Week of Prayer dating in January was not a good time (cold, dark, too close to Christmas/New Year) and that the Christian Aid/Thy Kingdom Come season in May was a better timing; this year we had to move earlier because of the Jubilee celebrations planned for the later part of May, and the outbreak of the Russia/Ukraine conflict gave an unanticipated turn the focus. A smallish but committed group of leaders and congregation enjoyed worship and concerned prayer at St. Mary’s.

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2022 Annual Report and Financial Statement

The resumption of Pangbourne Fête after two years of COVID cancellation saw us again offering a quiet prayer tent, using the theme of Peace – peace in our world, peace in our churches, peace in our homes, peace in our hearts. The ‘conflict game’ featured a world map with 20 current conflict areas marked: cards were available to be picked up, each one outlining one conflict, and people were encouraged to find ‘their’ conflict on the map, touch it with a finger, and pray for the situation. There was also a ‘peace dove’ craft project available. We had a great team of helpers and the projects worked well, but having asked for a quietish location on the Fete site we found ourselves very much a backwater with few visitors.

The annual Advent Sunday service was held on the evening of November 27[th] . at St. James and followed roughly the format of the 2021 version. A good number of people attended and expressed appreciation for the tone and message of the service.

Routine expenses, especially insurance, continue regardless, and to continue our aim to relieve the participating churches of any financial burden for our activities, we ran the Whitchurch Art Café in April. The cake-makers and helpers rose to the occasion and a good sum was raised. With the strain of pandemic restrictions (and now inflation/cost-of-living strains) we felt that far from receiving grants from the churches for our expenses we should rather not only support our activities from our own fundraising but also make donations when we use the premises of the participating churches for our meetings and services. Our account balance supports this at the moment, but we will have to look for more fundraising opportunities to do this sustainably.

Revd Tony Naden, All Churches Together Chairman

Music and Singing

During the first half of 2022 the singers met for singing practice on Wednesdays from 7- 8pm. The singing group decided not to meet during the second half of the year due to illness and the cost-of-living heating costs.

The singers continued to lead the singing on Sundays in the choir stalls and round the piano for the congregation coming into church.

Thanks to Ian Busby, Meg Orr, Mark Littledale, Martin Holliday, Heather Thorne, Cliff Thorne, Ellie Thorne, Dilys Rogers, Helen Norris and welcome to Pat Linton

Wilma Grant, Music Co-ordinator

Noah’s Ark

2022 continued the success of Noah’s Ark with numbers continuing to be high. Revd Mark and Jill Palfrey have continued to lead each week and the topics covered have been many and varied. It follows the familiar format of coffee and chat, with craft and toys for the children, followed by a very short service with a story, prayer, praise songs with shakers and the birthday hat. After the candles have been extinguished, we have a short time of nursery rhymes and the goodbye song.

We continue to offer Stay and Play sessions in some of the school holidays and everyone has enjoyed visits from Word Puppets in half-term holidays. Word Puppets (our warden Julia Sheppard is one of the puppeteers) give of their time and expertise freely. Revd Mark is a ‘trainee puppeteer’!

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2022 Annual Report and Financial Statement

We have a small band of very loyal helpers to whom we are so grateful. If you are interested in being involved and can commit to helping on Friday mornings please talk to Mark or Jill. Jill Palfrey, Churchwarden

Bell Ringing

The continuing Covid-19 restrictions at the beginning of 2022 required us to maintain good social distancing, hand sanitisation and ventilation. With the easing of restrictions, we were able to resume mor normal Sunday service and practice night ringing. We were not, however, able to ring for the first anniversary of the death of Prince Philip.

Further easing of restrictions enabled us to resume almost normal ringing for service and practice. We were very pleased to be able to ring in celebration of Queen Elizabeth’s Platinum Jubilee. Only then to be sad to take part in the fully muffled ringing, tenor open at backstroke, during the Lying in State and immediately prior to the funeral of our Late Queen Elizabeth II. Bells are only rung fully muffled for the death of a Sovereign.

Our two learners are now improvers, making steady progress and able to ring for Sunday Service.

We are always on the lookout for new recruits, if you want to have a go, or just find out a bit more about bell ringing, our door is always open, just come in when the bells are not ringing.

Len Palfrey, Tower Captain

St James Café

St James Café is a new venture that was launched in September 2022. We meet in church monthly following the Wednesday morning service and provide coffee, tea and refreshments for all who are seeking to drop in for company and a chat. The café was set up both for those who regularly attend church to enjoy midweek fellowship, and those who are from the community and may not be regular worshippers but are looking to meet others in a friendly and non-expensive setting.

Initial numbers have been steady and consistent, with usually around between 12 and 20 attending across the course of the morning.

From January 2023 we are moving from meeting monthly to fortnightly.

Rev Mark Hopkins, Rector

Flower Arranging

Flower Team 2022:

Pauline Jones, Beverly Hughes, Dilys Rogers, Jayne Davidson, Pam Killender, Lorraine Ashdown, Pat Coyle, Jill Palfrey, Margaret Rhodes, Fiona Hope, Alyson Ebbrell, Sarah Rasmussen.

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2022 Annual Report and Financial Statement

For the most part there were two arrangements placed in church every two weeks or so throughout 2022, with the exception of Lent.

There were many special events in 2022 providing plenty of scope for some beautiful floral arrangements:

Mothering Sunday

HRH The Duchess of Cambridge’s portrait in St James Easter

The Queen’s Diamond Jubilee Flower Festival Rev. Mark’s Licensing as Rector The death of Her Majesty Queen Elizabeth II Harvest Remembrance All Souls Advent Christmas

Due to other commitments, it was not possible to hold a Christmas wreath making class in Pangbourne (it is hoped it can be reinstated in 2023). However, Gillian Alderton and Gill Haggerty gathered together parishioners in Tidmarsh and Sulham to have a wreath making evening to celebrate companionship and to kick-off Christmas.

Flower Fund

Our expenditure during 2022 was £1987. This was considerably more than the previous two years as church activities got back to a more normal footing post COVID.

Green Issues

As last year, we continued to use water filled vases where possible. The altar pedestal was the one exemption. Our team has adopted new techniques to make bouquet arrangements and are now using wire mesh in vases to support the flowers. Only one box of bio-degradable foam has been purchased this year.

The use of artificial flowers from our existing store has helped reduce costs and extend the longevity of the altar arrangements.

Team Organisation

Two new /reinstated volunteers have joined the group this year. Thanks to Mark Littledale for the stunning photos of our work to enhance the church Facebook page. Sarah Rasmussen

Local Schools

Englefield School 2022

Our Foundation Governors at Englefield Church of England School are Julia Sheppard and Paula Fenwicke.

Englefield Church of England Primary School continues to be a thriving school where children flourish both socially and academically within the school’s strong Christian ethos. Our strap line ‘Sowing the Seeds for a Flourishing Future’ is derived from the Bible narrative which the school has selected of The Mustard Seed. Our vision quotes ‘Our loving

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2022 Annual Report and Financial Statement

environment cultivates the foundations of mutual respect and the understanding that every child is special in God’s eyes.

Englefield continues to have strong links with St Mark’s Church, Englefield with whole school services taking place within the church for harvest, Christmas, Easter and a final leavers service at the end of the academic year. In September the Reverend Julia Myles was licensed as Rector of St Mark’s and the school gave her a warm welcome. Rev Julia takes weekly assemblies, spends some time each week with groups of children participating in some ‘Dwelling in the Word’.

Englefield School also enjoys the connections that is has with the churches in our parish. The school is very grateful to Reverend Mark who takes assembly for us once a month. This was especially valued during the interregnum at St Mark’s. The Church School’s Day held in July at St James was particularly successful this year and much positive feedback was received from pupils, school staff and church helpers.

The Foundation Governors committee of the full Governing Body meet four times a year and help ensure that the teaching of Religious Education (R.E), Collective Worship and adherence to our school vision and values are all effective.

Children at the school embrace both R.E. and collective worship enthusiastically and learn and discuss with rigor and understanding. They are a credit to the school. All classes plan and lead a whole school assembly once a year to which parents are invited. Pupils get involved in collective worship in many different ways in participatory and leading roles. The school has a Worship Group and a Prayer group for interested pupils.

Julia Sheppard

Fabrics Goods and Ornaments

Routine maintenance and servicing of all three of our churches continued during 2022. The three organs are tuned regularly and the fire equipment, intruder alarm and boilers are all serviced. Gutters are cleared at St Laurence and St Nicholas. The tower clock at St James is serviced annually. The churchyards continue to be maintained by volunteers. We are very grateful to those who put in many hours to work in the churchyards, including pupils and staff from Pangbourne College who help us each year in the summer as part of their community service.

During 2022 particular details to note are:

St James – the boilers continue to be a concern due to their age and the availability of spare parts (also their non-environmentally friendly use of gas). We were fortunate to have a mild start to the winter as the heating was not available until new parts had been sourced and the pilot lights worked. Subsequently, the heating times have been curtailed from previous years in order to economise on the use of gas and the consequent high costs that would ensue. The downlights in the chancel area have been changed to LED bulbs and it is hoped to continue this process throughout the church. Accessibility to the lights is a problem as our volunteers are less inclined to work from ladders at that height and consequently it is necessary to pay to have this change of bulbs carried out.

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2022 Annual Report and Financial Statement

There have been small falls of plaster during the year. It is probable that this is exacerbated by people allowing the heavy wooden entrance door to slam.

Before Christmas a leak was discovered at the west end of the church, where the chancel joins the tower. It has been arranged for GS Roofing to attend to inspect and carry out necessary repairs in the new year. They have also been asked to carry out some remedial work to the vestry roof.

Lastly, but very importantly, we thank the very reliable team of cleaners at St James that have been led by Roma Busby for many years. Unfortunately, due to health reasons, Roma had to step down in the autumn and our grateful thanks are due to her (and additionally for keeping the recalcitrant Sebo vacuum cleaner working!).

St Laurence -following storm damage lead flashing on the tower required repair. This was attempted from ladders but subsequently came loose again and scaffolding is required to carry out this repair successfully.

During the summer the tap in the bothy would not turn off but a local plumber fixed this successfully.

St Nicholas – an area of the floor in the vestry that had rotted and collapsed was replaced by a volunteer. In the course of carrying out this replacement it was discovered that there are possible areas of dry rot. The extent is not known. Professional advice will be required. Before Christmas it was found that a substantial amount of rain had penetrated the north side of the chancel area through the roof. GS Roofing carried out a temporary repair and the permanent repair was arranged for January or February 2023. Some soft furnishings were beyond rescue and had to be jettisoned.

Generally, it is a matter of concern that maintaining three old buildings will be a constant drain on parish resources and that any of the buildings requiring a major repair at any time will require considerable fund raising as current levels of income do not allow for any large expenditure on the fabric .

Jill Palfrey, Churchwarden

Green Gym

With the continuing Covid-19 restrictions at the beginning of 2022 the regular participants, continued to work in the church yard, as part of our permitted regular exercise, continuing to maintained good social distancing. With the easing of restrictions, we resumed our usual mid-session coffee break. As always several of our members worked in the churchyard at times and on days of their own choosing. During the year we managed to keep on top of grass cutting, weeding and hedge trimming to maintain our beautiful, peaceful space. Several of the graves have been cleared of weeds and have been covered in flints over a weed suppressant membrane. This will make future maintenance easier.

We are grateful for the gift of a mower and some tools, including a hedge trimmer. Thank you.

We also have to thank students from Pangbourne Collage who, once a year, come and work very hard in the churchyard as part of their community service.

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2022 Annual Report and Financial Statement

We are very pleased to have been joined by one regular plus one occasional new member. We are always on the lookout for new people willing to give a little time to help, especially as our average age is over 70!!! Anyone is welcome to join us on Green Gym days, or at times to suit yourself, just turn up and we will find you a job!

Len Palfrey

Finance Committee Report for 2022

The Finance Committee comprised Rector, Treasurer, Jill Palfrey, Gill Haggarty, Julia Bion

The committee considered several matters during 2022 and made recommendations to the PCC. Subjects for discussion included:

Treasurer’s Report on 2022 Statement of Financial Activities

Headline Figures

Unrestricted funds representing day-to-day operations of the parish showed a very small operating deficit of just £498 – effectively break-even.

Restricted Funds which are funds donated for specific purposes showed a deficit of £2.7k The main expenditure was from the Flower Fund which has a balance of £33k.

Endowment Funds are capital funds donated for specific purposes from which we can only use the income; these showed a surplus of £2.6k. The prime purpose of these funds is to maintain the Sainsbury grave in Pangbourne cemetery and the Gunter, Donaldson and GrahamHodgson graves in St Laurence churchyard; any additional income can be used for maintenance of St James’s church and churchyard and St Laurence’s church and churchyard. The value of Endowment funds fell during the year by £14k.

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2022 Annual Report and Financial Statement

Unrestricted Funds

Income was £25k higher than in 2021 as we recovered from the effects of covid

Expenditure was £5k higher than 2021

Investments

Reserves of Unrestricted and Restricted Funds are invested in Church of England investment funds; the value of our investments fell during the year by £11.5k, in line with the financial markets. Even after last year’s fall, these funds have grown by more than £37k over the past five years

We have £38k of unrestricted funds in the bank and invested at the end of the year.

Income and expenditure breakdown as follows:

Regular income includes bank standing orders, parish giving scheme and envelopes, all of which attract gift-aid; we also claim gift-aid on most plate collections. Envelope and plate collections recovered well in 2022 following the lifting of covid restrictions. Similarly wedding and funeral income and income from community events was substantially higher than in 2020 and 2021.

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2022 Annual Report and Financial Statement

It is our aim that planned giving (including gift-aid) covers the cost of parish share. The running costs and charitable giving is then covered by other sources of income including weddings & funerals, plate collections, community events and other donations.

Whilst planned giving, plate collections and income from weddings and funerals are above pre-covid levels, income from community events has not yet fully recovered. Other sources of income include one-off donations and legacies which cannot be forecast or relied upon.

Stephen Billyeald Treasurer to the PCC of Pangbourne with Tidmarsh & Sulham

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2022 Annual Report and Financial Statement

PCC of Pangbourne with Tidmarsh & Sulham

Statement of Financial Activities for the year to 31[st] December 2022

Unrestricted
Restricted
Endowment
Total
Prior year
funds
funds
funds
funds
total funds
Income and endowments from: £
£
£
£
£
Donations and legacies note 2(a)
Income from charitable activities note 2(b)
Other trading activities note 2(c)
Investments note 2(d)
Other income note 2(e)		 91,258
(74)
—
91,184
74,845
10,802
432
—
11,234
4,972
4,676
—
—
4,676
1,788
1,355
—
3,079
4,435
4,470
18
—
—
18
2,200
Total income 108,111
357
3,079
111,548
88,276
Expenditure on:
Raising funds note 3(a)
Expenditure on charitable activities note 3(b)
Other expenditure note 3(c)		 199
—
—
199
—
108,335
3,045
506
111,887
104,681
74
—
—
74
2,200
Total expenditure 108,609
3,045
506
112,161
106,881
Net Income/(Expenditure on Ordinary Activities (498)
(2,688)
2,573
(613)
(18,605)
Gains / losses on investment assets (11,469)
—
(13,816)
(25,285)
31,233
Net income / (expenditure) resources before
transfer		 (11,967)
(2,687)
(11,242)
(25,897)
12,627
Total funds brought forward
Total funds carried forward
50,054
49,616
131,240
230,911
218,283
38,087
46,929
119,997
205,013
230,911

Page 1

Balance sheet

Total funds
Prior year funds
Fixed assets
Investments note 6(a)
Current assets
Debtors note 6(b)
Investments note 6(c)
Cash at bank and in hand note 6(d)
Liabilities
Creditors: Amounts falling due in one year note 6(e)
Net current assets less current liabilities
Total assets less current liabilities
Total net assets less liabilities
Represented by:
Unrestricted
Restricted
Endowment
Funds of the church		 £
£
103,555
117,371
103,555
117,371
6,494
1,627
89,045
116,514
10,291
5,590
105,831
123,732
4,372
10,193
4,372
10,193
101,458
113,539
205,013
230,911
205,013
230,911
38,087
50,054
46,929
49,617
119,997
131,240
205,013
230,911

Page 2

NOTES TO THE FINANCIAL STATEMENTS

1. ACCOUNTING POLICIES

Basis of financial statements

The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 , together with applicable accounting standards and Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005).

The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body or those that are informal gatherings of church members.

Fund accounting

Endowment funds are funds, the capital of which must be maintained; only income arising from investment of the endowment may be used either as restricted or unrestricted funds depending upon the purpose for which the endowment was established.

Restricted funds comprise (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and (b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund. Where there is no separate investment, interest is apportioned to individual funds on an average balance basis.

Unrestricted funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application to the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted.

Incoming resources

Voluntary income and capital resources

Planned giving, collections and similar donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate is received. Grants and legacies to the PCC are accounted for when the PCC is entitled to the use of the resources, their ultimate receipt is considered reasonably certain and the amounts due are reliably quantifiable.

Funds raised by fetes and similar events, and sales of books and magazines from the church bookstall are accounted for gross.

Gifts in kind for sale or distribution are included in the accounts only when sold or distributed by the PCC. Gifts in kind are accounted for at a reasonable estimate of their value to the PCC or the amount actually realised.

Gifts in kind for use by the PCC are included as incoming resources when receivable.

Intangible income (e.g. donated facilities) is only included in incoming resources (with an equivalent amount in resources expended) where another party is bearing the financial cost of the resources supplied and the benefit is quantifiable, receivable and material. Intangible income is valued at the lower of the cost borne by the party bearing the cost and a reasonable estimate of the value of the donation to the PCC.

The value of any voluntary help received is not included in the accounts but is described in the annual report.

Income from investments

Dividends are accounted for when declared receivable. Interest entitlements are accounted for as they accrue. Tax recoverable on such income is recognised in the same accounting period/year.

Gains and losses on investments

Realised gains and losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at the balance sheet date. Reserves of Unrestricted and Restricted Funds are held in investment accounts managed by CCLA Investment Management Ltd which specialises in managing charity funds and is recommended by the Church of England. In order to protect the value of Restricted Funds, any gains or losses on revaluation are accounted for in Unrestricted Funds in the Balance Sheet.

Page 3

Outgoing Resources

Grants

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC.

Activities directly relating to the work of the Church

The diocesan parish share is accounted for on a full accruals basis. Any parish share unpaid at the balance sheet date is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the balance sheet.

Fees for examining the accounts

No fees have been paid to the independent examiner, this year or last, either for reporting on the accounts, or for other advice or consultancy.

Fixed assets

Consecrated property and moveable church furnishings

Consecrated and benefice property of any kind is excluded from the accounts by s.10(2)(a)and (c) of the Charities Act 2011.

Moveable church furnishings held by the Rector and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted for as inalienable property unless consecrated. They are listed in the church’s inventory which can be inspected (at any reasonable time). For inalienable property acquired prior to 2000, there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired since 1[st] January 2000 have been capitalised and depreciated in the accounts over their currently anticipated useful economic life (either five or ten years) on a straight-line basis.

Other fixtures, fittings and office equipment

Equipment used within the church premises is depreciated on a straight-line basis over four years. Individual items of equipment with a purchase price of £1,000 or less are written off when the asset is acquired.

Investments

Investments are valued at market value on the balance sheet date.

Current assets

Amounts owing to the PCC at the balance sheet date in respect of fees, rents or other income are shown as debtors, less provision for amounts that may prove uncollectable.

Short-term deposits include cash held on deposit either with the CBF Church of England Funds or with the PCC’s bankers.

Stocks and work in progress are valued at the lower of cost or market value.

Change in basis

There has been no change to the accounting policies (valuation rules and methods of accounting) since last year.

Changes to previous accounts

No changes have been made to accounts for previous years.

Page 4

2. INCOME

Total
Unrestricted Designated
Restricted
Endowment
This year
Last year
2(a) Donations and legacies £
£
£
£
£
£
Gift Aid - Bank
23,699
655
—
—
24,354
23,498
Gift Aid - Envelopes
1,764
1,186
—
—
2,951
721
Parish Giving Scheme
29,606
381
—
—
29,988
29,498
Loose plate collections
6,374
1,316
—
—
7,690
4,924
Giving through church boxes
410
3
—
—
413
97
One-off Gift Aid gifts
1,050
—
—
—
1,050
1,100
One-off donations
1,917
—
—
—
1,917
1,151
Donations appeals etc
370
—
—
—
370
290
Tax recoverable on Gift Aid
15,543
—
—
—
15,543
10,888
Legacies
—
5,002
—
—
5,002
2,000
Recurring grants
—
25
—
—
25
25
Non-recurring one-off grants
550
500
—
—
1,050
—
Other funds generated
826
—
(74)
—
825
651
Total
82,187
9,071
(74)
—
91,184
74,845
2(b) Income from charitable activities
Fees for weddings
2,837
—
130
—
2,967
625
Fees for funerals
7,447
518
302
—
8,267
4,347
Total
10,284
518
432
—
11,234
4,972
2(c) Other trading activities
Fundraising Events
3,601
831
—
—
4,432
1,760
Coffee Receipts
243
—
—
—
243
28
Total
3,845
831
—
—
4,676
1,788
2(d) Investments
Income from Trusts
—
—
—
3,079
3,079
2,978
Bank and building society interest
1,355
—
—
—
1,355
1,492
Total
1,355
—
—
3,079
4,435
4,470
2(e) Other income
Other Income
18
—
—
—
18
2,200
Total
18
—
—
—
18
2,200		 Total
Unrestricted Designated
Restricted
Endowment
This year
Last year
£
£
£
£
£
£
23,699
655
—
—
24,354
23,498
1,764
1,186
—
—
2,951
721
29,606
381
—
—
29,988
29,498
6,374
1,316
—
—
7,690
4,924
410
3
—
—
413
97
1,050
—
—
—
1,050
1,100
1,917
—
—
—
1,917
1,151
370
—
—
—
370
290
15,543
—
—
—
15,543
10,888
—
5,002
—
—
5,002
2,000
—
25
—
—
25
25
550
500
—
—
1,050
—
826
—
(74)
—
825
651
10,284
518
432
—
11,234
4,972
3,601
831
—
—
4,432
1,760
243
—
—
—
243
28
3,845
831
—
—
4,676
1,788
—
—
—
3,079
3,079
2,978
1,355
—
—
—
1,355
1,492
1,355
—
—
3,079
4,435
4,470
18
—
—
—
18
2,200
18
—
—
—
18
2,200
INCOME TOTAL 97,690
10,420
357
3,079
111,548
88,276

Page 5

3. EXPENDITURE

Total
Unrestricted Designated
Restricted
Endowment
This year
Last year
3(a) Raising funds
£
£
£
£
£
£
Costs of fetes & other events
199
—
—
—
199
—
Total
199
—
—
—
199
—
3(b) Expenditure on charitable activities
Giving to missionary societies
(2,500)
1,800
—
—
(700)
700
Giving - relief and development
agencies
923
—
—
—
923
290
Giving to UK Charities
3,327
—
—
—
3,327
2,005
Secular charities
252
—
—
—
252
252
Mission Other
37
—
—
—
37
—
Ministry parish share etc
72,640
—
—
—
72,640
73,373
Organists
3,970
—
—
—
3,970
2,200
Clergy Duty Fees
2,872
—
—
—
2,872
1,580
Wedding Disbursements
227
—
—
—
227
141
Funeral Disbursements
631
—
—
—
631
242
Salary of parish administrator
4,024
—
—
—
4,024
4,412
Working expenses of incumbent
1,019
—
—
—
1,019
—
Vicar's telephone
911
—
—
—
911
658
Church running - insurance
6,657
—
—
—
6,657
6,115
Church office - telephone
176
—
—
—
176
168
Organ / piano tuning
—
212
760
—
972
1,054
Church maintenance
---
1,501
297
—
1,799
3,166
Upkeep of services
442
—
—
—
442
105
Flower expenses
—
—
1,882
—
1,882
1,170
Upkeep of churchyard
—
—
105
506
611
811
Administration
2,845
—
—
—
2,845
3,162
Church Office Rent
120
—
—
—
120
148
Subscriptions and Levies
—
—
—
—
—
474
Church running - electric
3,099
872
—
—
3,972
1,063
Church running - gas
2,150
—
—
—
2,150
1,280
Church running - water
121
—
—
—
121
103
Total
103,949
4,387
3,045
506
111,887
104,681
3(c) Other expenditure
Other Expenses
74
—
—
—
74
2,200
Total
74
—
—
—
74
2,200		 Total
Unrestricted Designated
Restricted
Endowment
This year
Last year
£
£
£
£
£
£
199
—
—
—
199
—
103,949
4,387
3,045
506
111,887
104,681
74
—
—
—
74
2,200
74
—
—
—
74
2,200
EXPENDITURE TOTAL 104,223
4,387
3,045
506
112,161
106,881
NET INCOME (EXPENDITURE) (6,533)
6,033
(2,687)
2,573
(612)
(18,605)

4. PAYMENTS TO STAFF & PCC MEMBERS

(a) STAFF COSTS 2022 2021
£ £
Wages & salaries 7,300 6,373

(b) PAYMENTS TO PCC MEMBERS

As an organist Mrs Wilma Grant, who is a member of the PCC, was paid £3,276 during the year. As parish administrator Mrs Vanessa Saunders, who is a member of the PCC, was paid £4,024. A small immaterial portion of expenses paid to the Rector might have related to his services as Chairman of the PCC.

Page 6

5. ANALYSIS OF FUNDS

5(a) Unrestricted
General Fund
St James Legacies
St James AV Equipment
St Laurence Designated
St Laurence Legacies
St Nicholas Designated
St Nicholas Greenhill Bench
Total Unrestricted Funds
5(b) Restricted
St James
Anniversary Project
Bells
Flowers
Organ
Textiles
Music
St Laurence
Internal Furnishings
St Nicholas
Organ
Total Restricted Funds
5(c) Endowment Funds
St James
Sainsbury Trust Capital
Sainsbury Trust Income
Sainsbury Trust Revaluation
St Laurence
Donaldson Gift Capital
Donaldson Gift Income
Donaldson Gift Revaluation
Gunter Trust Capital
Gunter Trust Income
Gunter Trust Revaluation
Lady Graham-Hodgson Capital
Lady Graham-Hodgson Income
Lady Graham-Hodgson Revaluation
Total Endowment Funds
Grand total		 5(a) Unrestricted
General Fund
St James Legacies
St James AV Equipment
St Laurence Designated
St Laurence Legacies
St Nicholas Designated
St Nicholas Greenhill Bench
Total Unrestricted Funds
5(b) Restricted
St James
Anniversary Project
Bells
Flowers
Organ
Textiles
Music
St Laurence
Internal Furnishings
St Nicholas
Organ
Total Restricted Funds
5(c) Endowment Funds
St James
Sainsbury Trust Capital
Sainsbury Trust Income
Sainsbury Trust Revaluation
St Laurence
Donaldson Gift Capital
Donaldson Gift Income
Donaldson Gift Revaluation
Gunter Trust Capital
Gunter Trust Income
Gunter Trust Revaluation
Lady Graham-Hodgson Capital
Lady Graham-Hodgson Income
Lady Graham-Hodgson Revaluation
Total Endowment Funds
Grand total		 Opening
Incoming
Outgoing
Transfers
Gains/losses
Closing
£ £ £ £ £
£
(1,153)
97,690
104,222
—
(11,469)
(19,154)
20,926
5,002
2,694
—
—
23,234
1,699
—
72
—
—
1,627
8,455
2,566
1,131
—
—
9,890
14,934
—
—
—
—
14,934
4,891
2,851
488
—
—
7,255
300
—
—
—
—
300
Total Unrestricted Funds
5(b) Restricted
St James
Anniversary Project
Bells
Flowers
Organ
Textiles
Music
St Laurence
Internal Furnishings
St Nicholas
Organ		 50,054
108,109
108,608
(11,469)
38,087
2,098
—
—
—
—
2,098
5,246
212
297
—
—
5,161
34,895
(74)
1,987
—
—
32,833
1,824
220
476
—
—
1,567
373
—
—
—
—
373
2,479
—
—
—
—
2,479
209
—
—
—
—
209
2,489
—
283
—
—
2,205
Total Restricted Funds
5(c) Endowment Funds
St James
Sainsbury Trust Capital
Sainsbury Trust Income
Sainsbury Trust Revaluation
St Laurence
Donaldson Gift Capital
Donaldson Gift Income
Donaldson Gift Revaluation
Gunter Trust Capital
Gunter Trust Income
Gunter Trust Revaluation
Lady Graham-Hodgson Capital
Lady Graham-Hodgson Income
Lady Graham-Hodgson Revaluation		 49,617
358
3,043
46,929
8,911
—
—
—
—
8,911
2,335
1,777
506
—
—
3,607
58,837
—
—
—
(7,975)
50,861
2,499
—
—
—
—
2,499
1,433
117
—
—
—
1,551
1,996
—
—
—
(529)
1,467
1,358
—
—
—
—
1,358
3,601
666
—
—
—
4,267
24,026
—
—
—
(2,988)
21,038
1,000
—
—
—
—
1,000
6,497
518
—
—
—
7,015
18,741
—
—
—
(2,323)
16,417
Total Endowment Funds
Grand total		 131,240
3,078
506
(13,816)
119,997
230,911
111,548
112,161
—
(13,816)
205,013

Page 7

6. STATEMENT OF ASSETS AND LIABILITIES

This year
Last year
6(a) Investments
£
£
Sainsbury Trust
59,773
67,748
Donaldson Gift
3,967
4,496
Gunter Trust
22,396
25,385
Lady Graham-Hodgson Bequest
17,417
19,741
Total for Investments
103,553
117,372
These investments are endowment funds from which only the income is available to the PCC. All funds are held in unit trusts or
other collective investment schemes managed by CBF Funds Trustee Limited (CBFFT), a trustee body established by the Church
of England Central Board of Finance. CBFFT is run with regard to the recommendations of the CofE Ethical Advisory Group.
6(b) Debtors
Accounts Receivable
6,662
1,768
HMRC PAYE
(168)
(140)
Total for Debtors
6,494
1,627
6(c) Investments
CBF Investment Fund Income Shares
41,775
55,938
CBF Investment Fund Accumulation Shares
47,270
60,576
Total for Investments
89,045
116,514
6(d) Cash at bank and in hand
10,291
5,590
6(e) Creditors: Amounts falling due in one year
Accounts Payable
(4,372)
(10,193)
Total for Creditors: Amounts falling due in one year
(4,372)
(10,193)
Grand total
205,013
230,911		 £
£
59,773
67,748
3,967
4,496
22,396
25,385
17,417
19,741
6,494
1,627
41,775
55,938
47,270
60,576
89,045
116,514
10,291
5,590
(4,372)
(10,193)
(4,372)
(10,193)
205,013
230,911

7 OTHER INFORMATION

Related party transactions - There were no amounts owing to or from members of the PCC, persons connected with them or other related parties, by the PCC at the period end.

No ex-gratia payments were made by the PCC during the period.

Page 8

8 DECLARATIONS

Adequacy of assets to meet fund restrictions

Sufficient resources are held in an appropriate form to enable each fund to be applied in accordance with the restrictions imposed.

Branches

The financial activities, assets and liabilities of all the PCC’s branches or sections have been included.

Designated funds

The PCC has certain designated funds. These have been disclosed in Note 5(a) above.

Discontinued, continuing and acquired operations

All of the PCC’s operations are continuing operations, and there were no operations discontinued or acquired during the period other than the Pangbourne Flood Fund described in Note 5(b) above..

Funds in deficit

Neither unrestricted funds, nor any restricted nor endowment funds are in deficit at the balance sheet date.

Inter-fund loans

There were no inter-fund loans outstanding at the balance sheet date.

Revaluations

None of the PCC’s functional fixed assets have been re-valued during the year and the PCC does not have a policy of revaluation of these assets. Investments were revalued at balance sheet date.

Subsidiaries

The PCC has no subsidiary companies.

Un-capitalised fixed assets

The PCC has no material fixed assets which have not been capitalised and included on the balance sheet.

Page 9