I[SMW Charity Commission No. 1128009 Annual Report and Financial Statements of the Parochial Church Council of the Ecclesiastical Parish of St Michael & All Angels, Westcliff on Sea for the year ended 31st December 2023 Priest-in-charge: Revd. Tom Loh Bank: Barclays Bank: Registered Office- I Churchill Place, London E14 5HP Independent Examiner: J P Francis FCA, 1386, London Road, Leigh-on-sea SS9 2UJ Our Mission.. To love God wholeheartedly,. to love others and help them to follow Jesus Christ Page I
Foreword As I reflect on the last few years l am ovenvhelmed with gratitude and amazement to see all the Lord has done through th¢m. It rcally is incrcdibl¢. Hundr¢ds of famili¢s hav¢ b¢cn rcachcd with thc gospcl and our church 1% bu.8tling with young families. This C.hri8tmas was our busiest ever. Three hundred people turned up to our Carols by Candlelight service and over four hundred children and parents attended our Christmas Eve Christingle. What a celebration of how good God has been to us, and the wonderful efforts of Sam and Teresa. We will miss them enorn]ously and give thanks for all they've done. The coming year for St Michael's will be a year of change as we say goodbye to Sam and Teresa from our staff team. As we look fonvard to 2024 my prayer is that we don't spend all our time looking back at the good old days, but to look fonvard to the bright future of where Jesus is leading us. Sam and Teresa have laid amazing foundations with our children and youth, and now is the tiine to build on it. Firstly, it has been a joy to see members of the congregation step up to keep things going in the absence of Sam and Teresa. A big thank you to those leaders and teams. However, we will need to make new appointments to the staff team if our current outreach and ministries are to be sustained and grown. We are living in a time when church attendance, especially for those under 18, is at an all-time low in our nation, therefore, I think it is vilal to keep investing in OUT children and young people. A challenge for us all I would love to be able to announce that we are replacing both Sam and Teresa. However, the reality of our church finances means that we are not currently in a position to do that. At present we can afford one member of staff, but given rising cosls, bills, and a recent reduction in congregalional giving, we cannot afford two. Our ability to pay for staff, and the entire running costs of St Michael's is completely reliant on the giving of our church family. There is no outside fidIng from the Church of England that supports us. Therefore, at present, we need to raise an additional £30,000 a year if we are to have both a youth worker and a children's worker. There are further financial needs of the church, not least a recent and significant increase in our Parish Share. However, for now my priority is to make sure we can invest properly in our children and families. These numbeTS can Sound bi&J and scary, but we need to remember we're in thi5 tOgFether, and if we all play a small part, big things can happcnl If l 00 mcmbcrs of our congrcgation gavc an cxtra £6.25 a wcck (£25 a month), we could afford to appoint a Children and Families worker and a Youth worker. For .8ome of u% this is too big an ask, for others it might be achievable, and for some it might be they could afford more. All l ask is that we be in this logether. If you'd like lo know more ofhow to give regularly lo the church, or make a one- off donation, please visit our website.. hii s.'/lwww.smw.cliurchl ivin We will be talking inore about giving at cliurch in the weeks to come. Youth Pastor Until we raise enough finances to support two members of staff, we will as a church be moving fonvard with making one appointment. With the budget we have l am planning to advertise for a full-time Youth Pastor as soon as possible. My hope and prayer over the next years is to see a thriving generation of young people following Christ and breathing new life into the church. Thanks to the work of Teresa and Sam, we already have a budding and growing youth group at church, and over the next two years at least twenty of our children will be moving-up to youth. We also have a number of young adults in their early 20s who are growing in Christ and becomillg new leaders in our church. This is tremendously excitillg, and we want to make Sure all our youth and young adults are supported in their discipleship. It is also my hope that the evening service will become one focused on young, people, providingJ them with opportunities to worship, fellowship and seLVe. In making this decision please don't imagine that our children's ministries are less important. Appointing a ncw Childrcn and Familics Workcr is critical to our ministy hcrc at St Michacl's. As soon as wc rcach our giving goal of £30,000 a year, we will make this appointment. We can do thisl Other thingJs to look foTward to in 20241 Page 2
9am and 10.45am services On Janu¢lry the 28th we will be launchingJ our new 9am service. This service will be sligJhtly more traditional and will have cominunion on the 2nd, 4th and 5th Sundays of the month. There's already between 20-30 people who have cornrnitted to thi5 service, and I believe il will enhance our offerin&J al St Michael's for those in our parish who likc an carlicr start and apprcciatc a morc traditional and rcflcctivc scrvicc. It will havc a mixture of organ/instrum¢ntal worship. hymns and modern songs. This means that the l 0.30 service will be moving to l 0.45aTn from the 28th Jan. to allow time between the services. The 10.45am service will remain a family service with Sunday Club and Youth AM. It will continue to have a contemporary wor%hip feel, with room for interce.8%ions, kid% glots, testimonie%, and a good preach. First Sunday Lunch will continue on the first Sunday of the month after the 10.45am service. The first one will be the 4th of February. Youth and young adults During 2024 I'd love to see us provide more ministries for this age group. Some early ideas are ceiitred around the evening service and whether we can develop a youth gathering after the service for fellowship and discipleship. Revitalize and Wednesday Youth will continue, and Sam has worked hard to build the team to ensure this will continue to run (and develop!) this coming year. Music and worship One of S¢lTll'S gTrLatest legJacies with us will be how he has developed our worship team. We feel so ble55ed to have seen so many new singers, musicians and leaders developed, and we are confident that our services will continue to be full of joyful song and worship. But Sam leaves a big hole, so please be praying for the current team, led by Craig, as they navigate without him. Children and Families With Teresa no longer Wlth Us, the Sunday Club Team have been working hard to plan the next three inonths, and we're pleased to say Sunday Club will run as nonnal. Tliere are also plans to see which of the Family Fun days and Holiday Clubs we can run this year. Our hope is to keep as much going as possible. The Thursday toddler group will also be running, but we're always happy to receive more volunteers for this, or any other children and youth rninistries. The Network ThingTS to watch for and pray about across the netWOTk. We'd love to see a network internship scheme developed in the Autumn of 2024 to develop new people in ministry, as well as build upun network events such as Biblical Foundations. Prcaching Days, Praycr for tlic City, Bclchamps and Rcvitalizc. Church planting never remains on the back burneT but is still at the heart of our network. With Nick Pucenot havingJ successfully completed his curacy and been sigJned off by the Bishop, we're excited to see how God might use him, either to plant locally, or take a post further afield. Either way we'Te excited for Nick, Scirah and the family's future. Though Nick has been signed off, he has the next 18 months to discern his next post. It's bccn a joy working with Nick and I know many of us havc bccn blcsscd by his ministy, not Icast thc young adults whom Nick and Sarah have been discipling. What an exciting year ahead! Even thoiigh there's change and ¢hallenge, let us not lose focus ()n the gloTiOUS On¢ who watcli¢s ovcr cach onc of us, and our church, thc Lord Jcsus Christ. Hc is thc grcat priz¢, and thc Shepherd of our daily lives. Because Jesu8 h&8 given everything of Flimself, we lack nothing we truly need. With Him, our future is always brighter and more glorious than it is today. Tom Loh Priest-in-charge January 2024 Page 3
The Parochial Church Council of the Ecclesiastical Parish of St. Michael & All Angels, Westcliff-on-sea Aims & Purposes The St Michael and All Angels PCC, Westcliff has the respon.8ibility of Co-operating with th¢ Priest-in-charg¢, in promoting within the ecclesiastical parish, the whole mission of the church, pastoral, evangelistic, social and ecuinenical. It also has maintenance responsibililies for ihe Church, the Church Centre, Church Hall and 35 Femleigh Drive. The PCC is committed to enabling as many people as possible to worship at OUT church and to become part of our parish community. The PCC maintains an overview of the Church's activities with the aim of involving as many people from within our parish as possible. In doing so, the PCC has considered the Commission's guidance on public benefit. Objectives St Michael'5 is a lovingJ evangJelical fellowship within the Church of England and offers a wam) welcome to all who visit our church. It is our vision- To see St Michael's full twice on Sundays. To make ready the church buildings for the next generation. To partner with St John's and the wider church in winning Southend for Jesus. Structure, governance and management Charitable Status The PCC is a b()dy corporate governed by the PCC Powers Measure 1956 and the Church Representation Rules 2020 and is a charity registered with The Charity Commission. PCC Representatives The PCC representatives are responsible for rnaking decisions on matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent. Whilst the appointment of PCC Representatives is detemiined in accordance with the Parochial Church Council Procedures, it is the aim to ensure that its members have a broad experience in all aspects of Church life. PCC Membership M¢mb¢r% of th¢ PCC are either ex officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules. During the year the following served as members of the PCC: Priest-in-¢harge and PCC Chairman: Revd. Tom Loh Curate: Revd. Nick Pucenot Wardens: Dr Gill Holrnes & Mr M Simmonds Representatii'es on the General Synod Mr Richard Brown Representatives on the Deanery Synod Mr M Simmonds Page 4
Elected Lay Representatives {as at 31 D¢¢einb¢r 2023) Mr Alan Prosser (Treasurer) Ms Grace Forrai Mr Peter Thomas Mr Ben Wylie Mrs Josie Osborne Mrs Shirley Park Mr Doug Whiting Mrs June Clipsham Mrs Wendy Gould Mrs Emma Robinson Mr Kay KufoTijI Committees and Teams Given its wide responsibilities, the PCC has a number of committees and teams each dealing with a particular aspect of parish life. Standing Committee A sub-committee of the PCC which meets when necessary to conduct Urgent business between PCC meetings or to plan the agenda for the next PCC. The Premises Team To facilitate the Church's aims and objectives, it 15 important to maintain the fabTiC of the Church and the Church Centre. The Premises Team is responsible for the maintenance and stewardship of the fabric of the Church Centre, 35 Fen)leigh Drive, and the Church. The Church refurbishment Group continued to consider options for refurbishing the Church in lineq with Tom'% vision. The Mission Partnership Team Th¢ Mission Teain m¢¢ts when requir¢d to d¢al with r¢qu¢sts for money for chariti¢s and mak¢s rccommendalion% to the PCC with rcgard to matters of Mission at home and ov¢rs¢as. Ensur¢s m¢aningful links arc inainlaincd wid] link missionari¢s. The Community and Outreach Team M¢cls whcn¢vcr required io hclp plan and action the varying outreach events and strategies for the church including Alpha courscs. Coinmunity cvcnts, and social action. The Pastoral Team Working with the Priest in Charge and the Ministry Tearn, the Pastoral Team meets occasionally when required to deal with matters pastoral including visiting, care of church members who do not belong to any small gTOUPS, and the Emergency Prayer Chain. Reports 2023 Deanery Synod Report Southend Deanery Synod is a meeting of all the Clergy, and elected lay representatives, from all 14 Anglican churches in the Southend area. Two inembers of the PCC sit on the deanery synod. This provides the PCC with an important link between the parish and the wider structures of the church. 2023 Church Wardens Fabric Report Church heating - the new boilers enabled the church to stay comfortably warm at the start of the year. However. in June it appeared we had a considerable water leak from an old pipe under the flagstones in the Lady Chapel. One leak became two and further work was needed to replace pipework. It took until the end of the year tor the job to be completed. Thanktully we have been able to reclaim some of the cost from our insurers. Page 5
A length of fencing was replaced along the path on the north side of the church aT]d fencing around the preschool gJarden to provide better security. Maintenance in the church hall included: cleaning and some tollch-up painting. replacement of light tubes, a fan replacement in the gas heater and a new hand-dryer. Due to waler leaking from the hand basins in the children's toilets in the hall, damp was damaging the adjacent hall wall. A need was highlighted that the children's toilets needed a complete refurbishment, particularly if wc plan to incrcasc thc hall Icttings. Quotcs wcrc sought for tlic work. All outdoor garden furniture was repainted as well as the garden shed. The PCC away-day discussed how the plans for the church refurbishrnent supported Tom's vision for making the church building ready for the next generation. The PCC have agreed in principle to- R¢build the ¢han¢¢l platforn], raising it slightly, con¢¢aling hazardous wir¢s and r¢¢ary)¢ting. R¢pla¢¢ the floor cov¢rtng which is ¢ra¢king badly. Redecorate the inside of the church, updating and improving the lighting and sound. Replace the wooden church chairs so that all chairs are stackable to allow for multiple uses of the church building, and to ensure we have sufficient seats, as the church grows. To build an extension to accommodate new toilet facilities. We have continued to meet with Chris Betts, our church appointed architect, who is advising us on process and design. We have also met with Archdeacon Mike, who was very positive and excited about our refurbishment plans and encouraged us lo begin the process of acquiring all the pern]issions necessary for church iinprovement. A big thank you to the premises team for their support and hard work throughout the year. Also, thanks to Doug Whiting for his help and expertise in navigating us through our insurance claim and sharing his knowledge of church refurbishrnent. Dr Gill Holmes Chureh Warden 2023 Electoral Roll as at 31st December During 2023 there were 10 additions and l O deletions to the Electoral Roll meaning there was no overall change during the year. There has been one sad loss from the Roll through death (Mary Fry}. l also note that the other 9 members who have asked to be removed from the St Michael's Roll have moved to other churches. The number of members on the St Michael's Electoral Roll at 31 st December 2023 Stood at 152 {152 at 31112122). Of these, 55 were resident in the parish and 97 were non-resident. Richard Vcrrindcr Electoral Roll Officer Page 6
Average Sunday Services Attendance 2019-2023 Church attendance averages over weekly services in January and November for each of the last five years. Numbers for 2020 and 2021 were affected by Covid restrictions. Adults 120 195 140 205 January Children 42 44 43 Livestream views 127 Adiilts 214 180 191 196 November Children 62 48 47 54 Livestream views 135 49 mean average to exclude Reinenibrance Sunday. Festivall Outreach Services Adult% 142 162 211 L()ekdown, figures not availablc 208 Mothering Sunday Children 68 38 53 Livestream views 83 33 Adult% 152 170 259 318 Easter Sunday Childrcn 63 19 64 Livestream views 216 67 23 Adu115 165 70 182 225 208 Harvest Sunday Children 86 Lockdown, restricted numbe 49 70 Livestream views 34 23 Adulis 210 211 198 Reinembrance Sunday 292 Children 108 70 70 LiVeStren views 129 15 Page 7
Christmas Services Adults 171 71 157 137 Toy setvice Christingle 223 Children 96 Lockdown, restricted nunibers 48 63 Livestream views 53 23 Adults 223 179 158 237 Carols by candlelight CanLelled by lockdow] Children 34 24 50 Livcstrcam vicws Adults 215 84 156 249 Crib Service Children 148 50 97 155 Livcstrcam vicws Adults 75 79 84 Christmas Eve Midnight Cancelled by lockdow] 65 Children Livestream views Adults 124 38 50 114 90 Children 47 10 18 29 30 Christtnag Day Lockdown, restricted numbers Livestream views Page 8
Financial Review of 2023 Note.. As in previous years, the onulysis below is boNed ort St. MiLhoel's FY2023 aeeourtts dycludi impoct of eonsolidalion ofst. Miehuel's Pre-school. Trk,hieh is eovered ipt more delail ot the end of the Review. Reporled eomporulive 2622 nunlbers included impael of ihefinal trunNuelEonsfor the St John's ChurLh Plant (Ihe 'CP Fund ) on Si. Miehael's aeeounis - the commentary below dxeludes these ilemN. Ihe After the 'busy' financial year seen in 2022 (which included (i) material 'exceptional' costs relating to replacement of the church boiler (and associated works). (li) investment in infrastrncture and administrationl systems to address the pace and scale of church growth), 2023 was broadly stable in financial tenns. However, H2 saw a marked reduction in regular giving following a relatively strong start to the year. Income received on unrestricted funds reduced slightly to £237,069 (FY22- £239,790), with a decline in cash collections and regular income sUPPOrted by ad hoc donalions, incl. specific donations to 5UPPOrt mission giving (see below) and towards the 'Build My ChuTch' fundraising project (where Income/ related expenses are recorded separately in a designatedfynd- the Build My Church Fund ('BMC Fund,) - ,see below. Gift Aid ('GA') tax recoveries on regJular gyivingl eligsible donations provided income of £24,813 (FY22: £26,111). Revenues ftoin halll church centre bookings were lower at £19,887 (FY22'. £23,113), with improved rates offset by lower booking numbers. Givii)g from weekly cash collections fell inaterially to £6,421 (FY22: £9,037), supplemeiited by general donations made via the Contactless payment machine. Receipts from Stewardshipl CAF/ Charlties Trust donations (all tax-etyicient alternatives to the GA scheme) increased further to £23,376 (FY22'. £21,773). Rental income (gross) received from the Fernleigh Drive investment property was lower at £18,045 (FY22: £19,775), caused by Writing off £1,695 of unrecovered 2022 Tent arrears from the previous tenninated GF tenancy. Tlie total value of individual pledged contributions to support the Children & Families Worker ('CFW') position nlil 2022 reporled via a seporale reslricled Fund (now closed) - reduced further to £6,410 (FY22.. £7,936). 2022 Intomo (% by ¢•trfory) 2023 Incom• (% by c•t¥ory) Jx Total expenditure to provide the Christian ministry of St. Michael & All Angels Church (excludin Pre-school, CP Fund-related expensesl transfers and asset depreciation charges) reduced materially to £255,816 (FY22= £300,924}, mainly due to no repeat of the exceptional spending on the boiler replacement project in late 2022 (where total costs were c.£79,800, incl. consultant/ feasibility reports and associated works}- as demonstydled in ihe pie chayls beloiv. 2023 saw a large uplift in Parish Share payments (see below), expected higher staff salaries/ expenses {caused by timing issues arising from enforced switch of St Michael's payroll arrangements from Chelmsford Diocese to an 'external' provider in Apr-23, such that 13 payrolls were paid during the 12- month period), and higher cleaning and energy cost5 (reflecting increased wholesale energy rates and withdrawal of government support for 2023). FY23 numbers were again affected by income and expenses relating to the Belchamps church weekend - a joint event held first in Jiily 2022 with our 'network' churches, St John's and Christchurch where St Michael's was again rc5ponsible for all financial arrangements. N'ole.. Overall, Belchamps 2023 made a nei de]icit of £616 (shared heth.een ihe 3 nenvork churches). Page 9
2022 Exp•ndStyr• (% by e&tqory) 2023 Exp•ndltur• {% by c•t•wy) 7X Ix ius The charts above show the profile/ main contributors (based on 0/0 of total by category} to total Income and total Expenditure excludin Pre School and the Church Plant), comparing 2023 against 2022- in particular, the Expcnditure chart highlights the impacl of the exccptional spcnding on the boiler replacement in FY22. St. Michael's received annual rentl service charge and additional contributions to heatingl cleaning of £ I 1,000 from St. Michael's Pre-school (increased from £9,000 received in each year from 2020-22). Build My Church Fund (the 'BMC Fund,) To support fund-raising efforts to,ardS the church Tefurbishment project, a new designated fund was established Mar-22 to monitor ad hoc donations Teceived and net receipts from specific fund-raising events held {incl. related costs incUed). All related income/ expenses are applied to a designated fund, the Build My Church Fund ('BMC Fund,). As at FYE Dcc-23, aftcr a rclL1tivcly quict ycar for fund-raising cvcnts, thc BMC Fund had aeeuinulated a net balance of £8,011 (Dec-22'. £6,333). Church Weekend Fund As a joint initiative between the 3 'network' churches, St Michael's, St John's and Christchurch, a second weekend evei)t was held at Belchamps Scout Canip in Hockley, Essex in early Jul-23. As in 2022, all financial arrangeinents for the event were inanaged through the St Michael's bank account using the existing designated Church Weekeiid Fund. After fees received and expenses incued, Belchamps 2023 incurred a net deficit of c.£616 (Belchamps 2022.. £29 deficit) as before, this was shared across the 3 network churches. Nule.. Another Belchamps iveekend is scheduledfor Jtsly 2024. Si Michael's will again take the leadforfinancing arrangements (with any netprofit or deficit arising to be shared equolly amongst the 3 netw'ork churches). Revitalize Capital Fund (new) 'Revitalize' is a termly event for secondary school-aged children/ youth within the Southend area, which has been held on a rotational basis since November 2022 across the 3 network chiirches (St Michael's, St John's, Southend and Christchurch, Southend). Tn support of this outreach project, a one-off donation of £2,000 was received by St Michael's from 'Love Southend, in Mar-23, to fulld equipment and other capital resources. To manage these shared monie5, a new Restricted nd, the 'Revitaliie Capital Fund, was CTeated within St Michael's accountingJ arrangTemenls. During 2023, £125 was spent on a smoke machine for use at ture events, leaving an outstanding, balance of £1,875 at FYE Dec-23. FY23 Net result and Closing cash position St. Michael's reported an overall con%olidated net Income/ Expenditure deficit of £7,892 for 2023 (FY22: £44,737 deficit). Eliminating the net deficit of £214 generated by the St Miehael's Pre-school (see below), on a slandalone basis St. Michael's saw a FY23 net defiLil of £7,678 (FY22: £58,226 nei deficit- mainly cau.ged by material spending on the boiler replacement project). Note: After aceounting for £67,500 of recognized non-cash gains on the latest revaluation of the Fernleigh Drive investment property (Aug-23 - see below), total consolidated Balance Sheet net assets increased to c.£1.31 million (Dec-22: c.£1.25 million). Page 10
Out of total consolidated Balance Sheet cash at banks and in hand of £165,115 at FYE 31 Dec-23 (reduced from £173,465 at Dec-22), Pre-school controlled cashl bank balances (which are not available for use by St Michael's Church) accounted for £89,918 (Dec-22: £89,630). This left £75,197 as cash available for Cliurch use {Dec-22.. £83,835) - the cosh rediielion muinlji refleets deloyed reeeipl (into eorly Jan-24) of £7,200 insurance nlonies relating to eos'lN incttrredfor investigation and repair ofcenlral heaiingpipes in Q4 2023. Parish Share contribution Following the material increase in St Michael's 2023 Parish Share allocation to £109,314 (+116 % on the 2022 allocation, following the change of calculation methodology by Chelmsford Diocese}, St. Michael's paid a total of £60,000 in monthly instalments over the course of 2023 (FY22- £50,630}. PCC decided not to make additional 'top-up' payments, based on reduced affordabilityl other financial challenges (including a marked reduction in regular giving during H2 2023 - see above). Parish Share calculationsl allocations are desiglled to reflect the 'true' cost of clergy serving at St Michael's, related expenses (incl. housing costsl expenses) and an assumed shaTe of Diocese trainingl admin and other central costs (using a matrix based on relative deprivation of parishes across the Diocese). Note- Allocated 2024 Share calculation for St Michael's increased again to £1 12,064 (+2.5 % on the 2022 allocation}, remaining well beyond ihe reach of St Michael's (based on the prevailingy income/ expenses profile at end 2023). A5 in 2023, after due considerationl discussion, St Michael's and its 'network' churches (St. John's and Christchurch) fund their Tespective Parish Share allocations on a joint/ combined basis, with St John's and Christchurch coveringT a material part of the shortfall for Si Michael's. Ab a consequence, St Michdel's PCC committed to Pay initldl 2024 Share contributions of £66,000 (+ l O % on 2023) and to consider paying additional ainounts as 'top ups, towards thc allocatcd Sharc. if dccmcd to bc affordablc by PCC, ncar the end of 2024. PCC Mjill Rpzake thi.g judgement ha.yed on progre.s.g made M.'Ith ipzcretLgipzg regular giving and .ftaff appoipztment.Y/ other material change.f that may take place with Si Michael .Y ]inancial requirements/ .fituation during iheyear. Mission supportl other giving During the yecir PCC passed on special collections and agreed additional donations and gifts totaling £7,360 (from £9,553 in 2022) to a range of Christian ministries and charities. The majority of St. Michciel's annual Inission giving is nornlally agreed as an allocation from general funds after consideration by the PCC (based upon recommendations made by the Mi%sion Team). Although no PCC allocations weTe made in 2023 (FY22.. £6,000), duc to prcssurcs on St Michacl's rcgular incoinc in H2, PCC had agrccdl paid £500 to Fricnds of Marsabit ?d £200 to Open Doors earlier in the year, liiiked to guest speaker vi.8lts. Since Sep-21, St Michael's provides regular monthly financial support as part of the partnership with Sollthend CAP Debt Advice Centre £1,200 per annum. In June 2023 Si Michael's fonvarded a further £3,000 to Gary & Karen Cedeno (a missionary family working with indigenous tribes in Ecllador), raised froin personal donations received from several meinbers of the congregation, to enable them to Purchase a 4WD vehicle. Other applications for support are considered on an ad hoc basis as they are received. In June 2023 PCC agreed to pay £1,800 towards the initial funding required by Hannah Dear to pursue her 2-year posting with Operation Mobilisation ('OM') this was supplemented by £328 raised from a plant sale. Nole.. FuriheR- infop-malion on groups s'upported by Si Michael's. can befound on the Mis'sion information board. Special collections were passed on to The Childrens, Society (the Smarties tube collection) - £302 in 2023 (£69 in FY22). Reserves policy Cash surplus to immediate requirements is invested in St. Michaels-designated deposit accounts held with the CBF Church of England Deposit Fund ('CBF'), via CCLA, which invests funds in ethical investments (in line with the policies of the Church of England Ethical Investment Advisory Group ('EIAG') and offers a slightly higher rate of interest ihan traditional high street banks, with comparable security of deposit. St. Michael's unrestricted General Fund cash reserves decreased to £55,678 at Dec-23 (Dec-22'. £70,11 I). pcc considers that a minimum of two months, average expenditure from the General Fund, estimated at £15,000, should be retained as standby liquidity in the main Barclays bank account, to cover any unforeseeii iiicoine fluctuations. Page JI
In addition, St. Michael's had £13,855 at Dec-23 (increased from £8,279 at Dec-22) set aside as an unrestricted Fabric Fund to meet potential inajor capital spending arising from 5-yearly ('quinquennial') inspections by Diocesan surveyors. The most recent inspection was conipleted in Jun-21 (delayed from 2020 due to the Covid-19 outbreak) and was generally positive on the condition of St. Michael's fabric/ buildings - related costs were not material. PCC regularly reviews the level of reserves to ensure that st¢lent funds are held to meet its contractual commitments and those arising from other obligations. Anticipated major capital projectsl Church refurbishment PCC {guid¢d by th¢ PCC-appoint¢d Church R¢fuTbishment Group, 'CRG') is Continuing to ¢xplor¢ a numb¢r of prioriti¢%l proj¢¢t% in lin¢ wilh the long-t¢m) vi.sion for St. Micha¢l's building (lo ready the church for futur¢ generations). This project is being gupported by a prograinme of proactive fund-raiging, recorded via the designated Build My Church Fund ('BMC Fund,) - see above. However, in view of the anticipated material nature/ cost of some of these ideas/ proposals, this will require further uplift in the level of regular giving and one-offl occasional donations and is likely to also require discussion regarding the long-terni strategy for the Fernleigh Drive investment property. Fernleigh Drive St. Michael's owns the Freehold interest in an investrnent property at 35 Femleigh Drive - this was originally purchased in the 1950s to house clergy but is now arranged as 2 self-contained flats and provides affordable Tented accommodation within the parish. Valued at £175,000 in 2005, the property has been re-valued at Tegular intervals. As part of wider-ranging PCC discussions over the future ownershipl use of Femleigh Drive, a detailed professional survey/ updated valuation was undertaken in Aug-23, which valued the property (based on existing tenancies in place} at £565,000 (up from £497,500 at ihe previous valualion iii 2018), bringing cumulative unrealised gains on revaluation since 2005 to £390,000). A designated Building Fund reserve of £5,466 (Dec-22- £5,226) is set aside to cover minor repairs and improvements. During 2023, c.£560 (FY22- £3,200) was spent on various works to repairl improve facilities at the Fernleigh Drive property, in addition to costs inCued for updated property valuations, other professional reports and legal expenses relating to the regJistration of the Freehold interest with HM Land RegJistry (HMLR) - these amounts were all funded frotn gJeneral fund5. Nole.. Since Sep-17 all matlers relaling to Fernleigh Drive, incl. lenanev arrangements, rent collection, legal/ health & safeljj obligations and general maintenance/repairs (within Pcc-defined spending thresholds). are managed on behalf of PCC under a professional properljj managemenl contracl wilh specialist commercial property managers (Hopson 's), in exchangefor agreed managemenifees/expenses. Children & Families Worker (CFW) Teresa Bridgwater was appointed to this full-time position in Dec-16, Wlth related salaryl pension costs and incurred expenses covered mainly by pledged monthlyl annual financial contributions from a group of c.25 church members (incl. GA tax recoveries thereon), 'topped-up' by an allocated portion of net annual rents Teceived from the Fernleigh Drive investment property. These weTe initially recorded separately within the Accounts in a restricted fund - the 'CFW Fund, but, following a material reduction in the level of pledged contributions {arising mainly from departures to the St John's CP effective from Jan-21) and with the cost of subsequent paid roles {eg Church Administrators/ Youth & Worship Leader) being met from general nds, separate reporting of the CF W Fund ceased with the 2021 Accounts. Total CFW salary/ pensions and incUed expenses in FY23 were £33,744 (FY22.. £28,938) - all met from general funds. Note.. Teresa resigned as CFWfrom Dec-23 to return to work in healthLare/ nursing. PCC will continue to Yeview options for supporting ministries with young children andfamilies (subjecl to availability offunding). Church Administrator Costs/ expenses a%sociated with this part-lime position cuntinue to be met from general funds - £10,71 O for FY23 (FY22.' £9,698). Note.. FnllnwiFzg Wendy Gould .g reÉiremeF2t in Sei)-23, the Admini.ftrator role i.Y now upzdertaken by Bridgit Coulipzg only (ai?POEnted in Nov-21), ba.fed .%lightly inLrea.%ed hoiir.f. Page 12
Youth and Worship Leader Sam Plank was employed as full-tiine Youth & Worship Leader from Sep-20, to provide a focus to St Michael's suiig worship/ band, in recognition of the significant growth seen in the number of children attending St. Michael's on a regular basis and in anticipation of a related increase in the size of our teenage groups going fonvard. Total salaryl pensions and incurred expenses in FY23 were £30,451 (FY22: £28,367). Note.. Sam resigned in early Jan-24 to take-up a new role at a church in Twiekenham. PCC is looking to employ a new You¢h Pastor- any related costs/dYpenses will be metfrom generalfunds. Church Coordinator (new) Effectivefroin Jan-24 Sarah Pucenoi has been appointed under a short-lerm (6 months) contract lo underlake a range of duties to establish and improve co-ordinalion of adniinislrativc/ governance and other activilies for the Church. Costs/aYpenses associaled with thispart-tinieposilion will also be meifrom generalfunds. St. Mi¢hael's Pre-school As in previou5 years, financial accounts for St. Michael's Pre School are consolidated with those of the Church and have a material impact on the overall reported figFures. However, Pre-school bank accounts dre operdted independently from those of the Church and nianageinenl of the Pre-school (including staff contracts/ liability insurance) is uiidertaken by a dedicated coinmitlee (comprising staff meinbers and parents, chaired by Tom Loh (as Incumbent), plus one churchwarden and 2 other representatives from St. Michael's congregation). During 2023, total Pre-school receipts were higher at £175,709 {FY22.. £162,067), including Nursery Education grants of £126,301 (FY22= £102,508), Fees Receivable of £46,716 (FY22-. £56,977) and Other Income of £2,692 (FY22.. £2,582), including fund-raising events and bank interest. Total expenditure also increased to £175,923 (FY22.. £148,578), including inter alia £128,130 of salariesl staff costs (FY22= £121,247}, £11,000 (increased from £9,000 in FY22) of rentl service charges paid to St. Michael's (to contribute to the costs of running the Church Hall), general admin costs of £6,366 (FY22.. £3,618), equipment purchasedl repaired of £18,822 (FY22.. £Nil}, fundraising costs of £3,040 (FY22- £3,104) and asset depreciation charges of £276 (FY22.. £110). Pre-school gyenerated a small net deficit of Income.. Expenditlwe of £214 {FY22.. £13,489 net SU Alan Prosser- Treasurer 22. March 2024 Page J3
St. Michael & All .4n el$ Westclift'_on-Se for the ear cndcd 31st Dcccmbcr 21123 Statement of FinAn¢ial Activities Thls Year Total Last Year Total Desi nated Endowment Restricted Unrestricted Income and endowments from". Donations and legacies InLoine fiom chaiitable activities Other incurne Invest]nents Total Incotne 10,640 2,0(10 175,787 181,027 21,486 2.519 21,392 226,424 19.3,667 197,273 2,519 21,722 415,181 191,523 206,485 3.049 21.072 422,129 3?5 178,112 10,640 Expenditure on". Expenditure on charitable activities Other expenditure Raising funds Total Expendlture 8,594 12 165.249 276 236,227 7,510 5,205 248.942 410,070 7,798 5,205 423,073 450,903 10,570 5,393 466,866 8,606 165.525 Net income l {expenditure) resources before transfer 2,034 12,587 ( 22,5181 ( 7,892) 1 44,737) Transfers Ciro%s transfcrs bctwccn fund8- in Gross transfers bettveen funds- out Other recognised gains / losses Net moi'cmcnt in funds 50 I I,(x)o) I 16,000 5,0001 ( 67,500 16,050 16,050) 1 67,500 59,608 ( 76,917 76,917) 501 { 2,034 { 451 .637 44,737) Total funds brought forward 8,440 147 91,147 1,148,123 1,247,857 1392,594 Total funds carried forward 10,474 102 92,784 1,2114,lOS I J07,46S 1,247,8S7 Representeil by Designated Build My Churcl) Fund {BMC Fund) Hall Chairs Fund Church Weekend Fulld Toddler Fund 8011 320 1,374 769 8,011 320 1,374 769 6,333 320 1,440 347 Endowment Easter Lillies Fund 102 102 147 Restrlcted Flower5 {Floral Guild) Pre School Fund Revitalize Capital Fund 197 90,712 1,875 197 90,712 1,875 221 90,926 Unrestricted Building Fund (35 FD} Fabric Fund General fund 5,466 13,855 1.184,784 5,466 13,855 1,184,784 5,226 8,279 1.134,618 10,474 102 92,784 1,204.105 1.307,465 1347,857 Pagc 14
St. Michael & All An els Westclirr-on-sea for thc car cnded 31st Dcecmbcr 2023 Anal sls of Ineome and e¥ endlture Thi5 YeAr Total Last Year Total Designated EndoTrvmeDt Restricted Unrestricted Income Donation5 and legacies Collections FWO Bank SO Gift Aid UN RST Donations Gift Aid UN RST Tax Repaid Stew'ardshiplCAF Donations CFW InLome- Pledged Incvme Toddler Group Incoine Special Collections Sundry Donations {incl. BMC. Fund, Holiday Club and other events) Sundry Receipts Chiirch Weekend Income 6,421 12,328 83,262 24,676 23,376 6,410 6,421 12,328 3,762 24.814 23,376 6,410 529 9,037 13,805 85,613 26,111 21,773 7,936 347 1,910 500 138 529 501 501 1,052 2,000 12,227 15.279 15.888 11,826 11.826 8,421 193,667 1,991 7,112 191,523 8,421 10,640 Total Donatlons and Icg#eles Inetsme from charitable activities 2,000 181.027 C.P Fund- SDF Grant Funding Pre School (irants Recd FloweTS IFGuildl Hall Receipts Pre School Incorne 20.110 102,508 159 23,113 59,530 1,065 126,301 404 126,301 404 19,887 19,887 49,082 1,599 49,082 Clergy Fe¢s received 1,599 Total Ineome from eharitable aetiwities 175,787 21,486 197,273 206,485 Other income Hall Solar Panel Credit TotAI Other income Investments 2,-f19 2,519 2,519 2,519 3,049 3,049 35 FD Rents Lower Flat 35 FD Rcnts Uppcr Flat CBF Interest Fabri¢ CBF Interebt tieneral CBF Interest Building CBF Interest Stibbaid Bank BPA Interest Intere%t from HMRC Pr¢ School Bank Intcr¢st Total Investments Total Incnme 8,505 9,540 576 2,295 240 8,505 9,540 576 2.295 240 10,235 9,540 382 780 68 195 41 195 41 325 21,722 41S,181 32 325 325 1711,112 30 21J92 226,424 21,072 422,129 10,640 Page J5
St. Michael & All .4n el$ Westclift'_on-,Se for the ear cndcd 31st Dcccmbcr 21123 This Year Total Last Year Total Designated Endowm¢nt Restricted Unrestricted Expenses Expenditure charitable activities Exrnal Giving Mission Diocese Quota CleTgy Costs (Vicar) Church In%urance Church Light & Heat Church Cleaning Mirl Church Repairs and Improvements Cledninsl expenseb Church Phone/ Broadband 7,360 60,000 963 3,745 16,685 1,005 23,897 14,443 880 7,360 60,000 963 3,745 16,685 1.005 23,897 14,443 880 9,553 50,63 645 3,570 15.205 1.187 91,091 13,409 429 72 Church Water 77 77 Church OITi¢c Costs Organ repairs Outreach CFW Outrt&Lh Youth Worker Outreach 4,313 176 2,432 2,087 1,034 4,313 176 2,432 2.087 1.034 107 3,661 175 3,673 2,233 305 Toddler Group Expenses Worship Expcnsc Staff Training CFIV Expenses Adn)inistrator Youth & W015hip Leader costs Church Weekend Expenses CP Fund- Salarie% & Pen%ions H311 Light & Heat Hall Phone Hall Repaiis and Maintenance Hall Insurance Hall Water Pre School Expenses Fli)wcr8 IFGI Expcnsc Membership Subscriptions Sundry Church Costs Garden Expenbeb Total ExpeThditure on eh#ritable aetivitits Other expenditure Bank chai.syes lincl. ContilCtle5s fees) Music Copyright Accountancy Depreciation Church Fixtures & Fiiting Deprecidtion Pre School Equip Depreciation AVI IT Equipment DepTeciation Solar Panels Tvt#l Other expenditure Raising funds 35 FD Expenses Total Raising funds Total Expenses Mov¢meTht in year 107 704 704 299 145 33,744 10,710 30,451 145 33.744 10,710 30,451 8,487 28,938 9,698 28,367 7,141 20,110 4.714 47 5,148 2,325 106 139,468 547 1,582 6,494 63 8,487 6,859 6,859 12 3,049 2,464 142 3.049 2,464 142 164,646 478 1.893 6.807 276 164,646 47 1,893 6,682 276 125 8,594 165,249 236,227 410,070 450,903 617 1,322 3,236 629 1,322 3,236 498 1,103 2,605 276 276 2,183 I i(} 2,183 3,92U 10,570 2,183 12 276 7,510 7,798 5,205 8,606 165,525 248,942 423,073 466,866 2,034 12,5117 1 22,518) ( 7,892) 1 44,737) Page 16
St. liChael & All An els We$tcliff-on-Se4 for thc 'car ended 31st Dcccmber 2023 Fund movement b t This Year Total Last Year Total Designated Endowment Restricted Unrestricted Balances brought foThard 8,440 147 91,147 1,148,123 1,247,857 1,292,594 Movement in year 2,034 12.587 22,518} ( 7,89211 44,737} Gross transfers between funds- In Easter lillies Hall rent receivable from Pre School 50 50 11,000 5,000 16,050 50 9.000 9,247 18,297 I I,(x)o 5,000 16,(100 PCC Allocation0 oth¢r Adjustm¢nts 50 Gross transfers between funds- out Easter lillies Hall rent receivable from Pre School PCC Allocationsl other Adjustmet]ts 50) 5011 11,000} I 5,00011 16,0501 ( 50} 9,000} 9,247) 18,297) I I,000} 5,000) 1 5,000) ( 50) ( 11,000) ( Other re¢ogni5ed goin$ I I05se5 RcvJluation Balances carried forward 67,500 1.204,105 67,500 I J07,46S l U.474 92.784 1,247.857 Page 17
St. Michael & All An els Westclitl'_on-5e for thc ear cnded 31st Deccmbcr 2U23 Balance sheet Total funds Prior year funds Fixed Asset Tangible assets Freehold Land & Buildings FuTnituie & Equipnient Investment property Pre School Equipment Total Tangible assets 563.924 2.482 565,0(N) 829 1.132,235 563,924 4,816 497,500 328 1,066.568 Current A55ets Cash at bank and in hand Debtvis Net current assets 165.112 14,457 179,569 173,465 10,069 183,534 Current Llabllitles Total Credltors: #mounts falling due wlthln one year Net eurrent assets (liabilities) 4,339 2,245 2,245 181.289 175,230 Total assets less current liabilities I J07,465 1.107,465 1,247,857 .247,¥57 Total net assets less liabilities Represented by Designated Build My Church Fund (BMC Fund) Hall Chairs Fund c.hurch Weekend Fund Toddler Fund 8,011 320 1,374 769 6,333 320 1,440 347 Endowment Easter Lillies Fund 102 147 Restricted Flowcrs (Floral Guild) Pre School Fund Revitalize Capital Fund 197 90,712 1,875 221 90,926 Unrestrieted Building Fund135 FDI Fabric Fund Gcncral fund 5,466 13.855 1,184.784 5,226 8,279 1,134,618 I J07,465 1,247,857 Page 18
St. Michael & All An els West¢liff-on-Sea for thc i'car ended 31st December 2023 Statement of assets and liabilities This Year Total Last Year Total Designated Endowment Restricted Unrestricted Fixed Asset Freehold Land & Buildings Building5 Hall ViLarage Garden RS Building RS Architect Fees RS Building Fcc Total Freehold Land & Buildings Furniture & Equipment AVI LT Equipment- cost AVI IT Equipment- depreciation Chuich fixtuies & fittings - cost Church fjxtures & fittings - depre¢iation Total FllrDiture & Equipment Ini'estment property -35 Fernleigh Drive Total Investment prop¢rt)' Pre School Equipment Pre School Equipt Pre School Equip Acc Depn Total Pre School Equipment Solar Panels Solar Panels Cost Solar Panel Depn TotAI Solar Panels Total Fixed Asset Cash at bank and in hand CBF General Fund CBF Buildillg Fund135FD) CBF Fabric Fund (Church) CBF Stibbard Fund Barclays C.A BPA Barclays Premium Acc Barc Flowers (FG) Pre School Chk Ac Pre School Dep Ac Prc School Ca%h Total Cash #t bank And in hand Current Assets Sundry t)ebtors Pre School Debiors Total Current Assets 250,000 5,650 273,988 19,238 15,048 563,924 250,000 5,650 273,988 19,238 15,048 563,924 250,000 5,650 273,988 19,238 563,924 10.915 8,7321 1 10,915 8,732} { 10,915 6,5491 12,882) 1 12,882} ( 2,482 2,482 12,7311 4.816 565,000 565,000 565,000 $65,000 497,500 497,500 12,710 12,710 11,933 11,6051 328 829 829 39,164 39,164 39.1641 1 39,164} { 39,164 39,1641 829 1,111.406 1.1.12,235 1,066,568 52,434 5,464 13,855 52,434 5,464 13,855 102 500 2,642 197 52.254 37,217 447 165,112 50,139 5,225 8,278 147 500 19,325 221 52,565 36,891 174 173,465 102 500 9,704) 10,471 1.875 ( 197 52,254 37,217 447 91,990 10,471 102 62,549 13.954 13,954 503 14,457 8,500 1,569 10,069 503 503 13,954 Net current assets Current Liabilities Prc School Crcditor. A¢cnial Total Current Liabilities Total Creditors: amouTht5 falling due withi one )'ear Total net assets (liabilities) 10,471 102 92,493 179,569 1¥3.534 538 538 3,801 4,339 601 1,644 2,245 3,801 3,801 538 3,801 1,21H,108 4,339 1,307,465 1,913 1,247,857 10,471 102 92,784 Puge Jg
St. Michael & All An els Ivestcliff-on-sea for thc car ended 31st Dcccmber 2023 Notes to the Financial Statements Accountin Policie5 Basis of preparatlon The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP {FRS 1021 'Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their a¢coun(s in accordance with the Financial Reporting Standard applicable in the UK and the RepubliL of Ireland (FRS 102) (effeLtive l January 20151',FinanLial Reporting Standard 102 'The FinanLial Reptsilin¥ Slandaid applicable in Ihe UK aiid Republic uf Ireland, and the Chaiilies Acl 2011 #nd Charities ALI 2022. The finai)Lial stattTllents hai'¢ been prepared undei the historical cost convention with the exception of investinents which are included at niarket N'alue, as modified by the revaluation of ceilain assets. Finaneial reporting standard 102- reduced di5c105ure exemptions The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS I()2 'Thc Financial Standard applicablc in thc UK and R¢public of IT¢land': The requirement of Section 7 Starement of Cash FIL)WS. Taxatlon The Lharity is exempt froin tax in its charitable activitieb. b) Funds General funds represent the funds of the PCC that are noi subject to any restriciions regarding their use and are available on appliLation for the geiieral purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted. The accounts inclllde all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owc thcir main atTiliation to anothcr body, nor tho%c that arc informal gathcring% of Church members. Scparat¢ aountS of th¢ Pr¢ School arc availabl¢, bllt undcr th¢ Chariti¢s Act 2011, th¢ organisation is r¢gard¢d as b¢ing undcr thc control of thc PCC and thc fjgurcs arc con80lidatcd in thc main church accounts on a linc by linc ba%is. IDcomingF Re50urce5 Voluiitd income Hnd ca ital source5 Collectioiis are reco¥Fiiised wheii received by or on behalf of the PCC. Planned giving receivable under covenants is recognised only when iEceiN'ed. Income tax recoverable on covenants or gift aid donations is recognised when the income is recognised. Grants and legacies to the PCL are accounted for as soon as the PCL is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain. Fund5 raised by tlie bazaar, fetes, garden parties and similar event5 are accounted for gr05s. Sales of books and magazines from the church bookstall are accounted for gross. Other ordina inLome Rental incoTne froin ihe leiting of church premises is recognised when ihe rental is due. EndoMThent fvnd income Investment income on the endownent fund is restricted to the purposes of that fund and recognized when received. Income from investments Interest entitlements are accounted for as they ale received. Gain5 and losses on inyesttnent Realised gains and losses on investinents are recognised when investments are sold. Unr¢alis¢d gains or loss¢s account¢d for on rcvaluation of invcstmcnts at 31 D¢¢¢mbcr. Pagc 20
St. Michael & All An els Westcliff-on-sea for thc ear ended 31st Dcccmber 2023 d) Resourees Used Cost5 of eneTatin funds These incliide the cost5 of any fi]nd-raising activities and maintenance costs of the investment property. Gtants Gidrit5 and donatiot15 are accounted for when paid oyer, or when awarded, if that award creates a binding obligation on the pcc. Activities directl relalin lo the work o£ihe c.hurch The dinccsan pari%h sharc iq accnuntcd for whcn paid. Prc Scho] cxpcnditurc ]% includcd Ls a Church i)lltrcach prnjcct. GovernanLe costs These represent the cost involved in runnin¥ and staffing the church office. The independent exaininer has kindly waived his entitlenient to any fees. Fixed As$ets Consetyrated land and buildin s and moveable church furnishin Consecrated and benefice property is excluded from the accounts by s.96(2lla) of the Charities Act 2011. No value is placed on moveable church rnishingS held by the chllrchM•rdens on special trust for the PCC., which require a faculty for disposal and which thc PCC con%idcr8 to bc inalicnablc propcrty, sincc insiifficicnt co%t Inforntion is a'alIablC to value %uch asqets in the accounts. All cxpcnditurc incurrcd during thc ycar on consc¢ratcd or b¢ncfi¢¢d buildings, individual itcms undcr £1,000 or on thc repair of moveable church furniqhings acquired is written off. Tan ible fixed assets and de reciation The tsethold Iund (d buildings Lurnprised the LhurLh hLtll and gTounds Situated at Leigh Ruad. The original l)all building was Included at a PCC estimated value of £250,000 to which should be added the cost of the extensiot] of £313.924. No depreciation is provided For on freehold land, nor on pemvdnent buildings because tlie PCC take the view that these as5et5 liave a very lon¥ useful life, are expected to maintain their value, and have suffered no in)pairment duTin¥ the yeai. Depreciation is provided for on all other tangible fjxed assets at the following annual rates in order io write off each asset over lis estimated useful life= Church Fixtures & Fittings Audio-visuav IT Equipment Pre School Equipment Solar Panels 25 % on a reducing balance 20°/o on a sttui¥Fht liiie basis 25,70 on a reducing balance IOQ/o on a straIt line basis Cost5 IncUed in 5ettlTlgF up a kitclien at the back of tl)e churcli at a cost of £22,900 were reflected in the income & expenditure account following a discussions and decision by the PCC it] 2018. Individual items uf equiprnent with a purch(Ibe PTice of £1,000 ur lesb TittEn off when the ib aLquirtd. InvestJnent Invc%tmcnts arc valucd at market valuc at 31 Dcccmbcr, %ubjcct to pcriodic rcvicw. Thc invc%tmcnt propcrty ]% valucd a% a Single unit, rather than as separate flats, on grounds of prudence. ro Since Septeinber 2017 tnanagement of the investtnent property has been undertaken under the tenlls of a profeSsiotl contract with a firjn of indcpcndet]t residential property snanagers. Page 21
St. Michael & All An els Ivestcliff-on-sea for thc ear endcd 31st Dcccmber 2023 Current assets Amounts owin¥ t 31 Decanber in rebpect uf fees. Tents ur othei incoine due ure Show as debtors le&5 provision fur amount5 that may prove uncollectible. Short-temi deposits include cash Iield on deposit either witli the CBF Church of England Funds or at the bank. 2) Investment Incnme 2023 2022 L¢ttings- inv¢stm¢nt propcrty lntCrct 18.045 3,677 19,775 1297 3) Trustee Ex enses No trustee received any remuneration for services provided to the charity in 2023 or 2022 oiher than that disclosed in the Relaled Parly note. 4) Staff Costs 2023 2022 Wage5 and salaries including Social Security costs Stsff pension 197,701 4,126 179,655 6,702 St MiLhael ]d All Angels. Pre School employed 16 staff mernbeTS during the year114 in 2022). St Michael and All AnbFels' Chiirch employed 4 staff inember5 until September 2023 and then 3 thereafter (4 in 2022). None of the einployees received any benefits otlier than that of a pension. The Pre School eniployees work on term time only and only 2 are effectively full time. 51 Tangible Fixed Assets Freehold Land & Furniture & Pre School Buildin ui ment ui ment Solar Panels Total 2021 Cost At l January 2023 Additions At 31 Decembei 2023 563,924 24,096 11,933 777 12,710 39,164 639,117 777 639,894 563,924 24,096 39.164 reciatioD Ai l January 2023 Charge for year Ai 31 December 2023 19,280 2334 21,614 11,605 276 39.164 70,049 2,610 72,659 39,164 Net Book Value at 31 DecernbeT 2023 563,924 2,482 829 567,235 Net Book Value at 31 DeceinbeT 2022 567 924 328 569 068 6) Investment property The property, 35 Fernlcigh Drive, Leigh-on-sea, is ) semi4etached house in its own grounds let as two flats under short hold tenancies. For the purpose of ihese accounts Ihe propery is valued as a single unit. The property is held at open markei value as ai the balance sheet dale which is deterniined by the PCC. based on price inforniation provided by a local Esiate Agents. Valuation in 2005 amounted io £175.000 - revalualion in 2009 ainliunled 10 £287.500 - revaluation in 2013 amounled £3.35,000- revaluation in 2015 ainounted to £450,000- revaluation in 2018 aniounted to £497,500 with a latest revaluation in 2023 w'hiLh amounted to £565,000. The cuiient valuation has been compared with similar properties in the street wheie 'aluatioii InfotIOn is dl'ailiible dnd is c0115idered still to be il fair Viiludtion. A to[ uniealized o1-£390,(K)O hdb bee reflected in the AcLount5. Pagg 22
St. Michael & All An els Ivestcliff-on-sea for thc ear ended 31st Dcccmber 2023 Debtors Designated Endowmeni Restricted Unrestricied Funds Funds Funds Fund Total 2023 2022 Other debtors 503 503 13,954 13,954 14,457 14,457 10,069 10,069 8) Liabilities: Amounts falling due with one year Designated Endowmeni Restricted Unrestricied Funds Funds Funds Fund Total 2023 2022 Creditors 538 538 3,801 3,801 4,339 4,339 2,245 2,245 9) Analysis of Nel Ass¢t$ by Fund Designaled Endowmeni Reslrictsd Unrestricied Funds Funds Funds Fund Total 2022 Fixed Assets 829 1,131,406 76,500 3,801 1.204,105 1,132,235 179,-569 4,339 1,307.465 1,066,568 183,534 2.245 1,247,857 cUtt Assets 10,474 102 92,493 538 cUtt Liabilities 10,474 102 92.784 io) Related Party Di5c105ure During thc ycar thc charity paid a %alary of £ £4.078 tn Mrs W Gauld for hcr acting rolc a% Church Admini8tratar Mrs W Cjould bc¢am¢ a Trustcc in Octobcr 2020 & rctircd from h¢r cmploycd role in S¢pt¢mbcr 2023. Mr P (iould (husband to Mrs W (iouldl wab reimbursed £7H for his time and maierialb in his role as handyman. Page 23
INDEPENDENT EXAMINER'S UNQUALIFIED REPORT ST MICHAEL AND ALL ANGELS CHURCH OF ENGLAND Independent Examiner's Report to the Trustees I report on the financial slateinent5 of the Trust for the year ended 31 DecernbeT 2023 Set out on pagses I to 23. Tl)is report is made solely to tl)e Charity's trustees, as a body, in accordance with sectioi) 145 of tlie c.harities Act 2011. My work has been undertaken so that I miglit State to the chai"ity's ttU5tees those mdtters T dni required to stdte to thein in this report dnd for no oihei PUTPOSe. To the lIest extent PerItted by law, I do not accept 01 a5SUTne responsibility to anyone othei. than the cha]ity and the chaTity'5 tru5tee5 as a body, for my work, for this reporL or for the opinions I have formed. Respeetive responsibillties of trustees and examlner Tlie ¢hatity's trustees ale resptsnsible for the preparation of finkmcial stateiknents. The chai"ity's trustees consider that an audit is not required fur thib year under Section 144121 uf the Charities Act 2011 ('the 2011 Act'l and that an independent ¢xaminatiOii is needed. It is my iesponsibility to.. examine ihe financial statements under section 145 of the 2011 Act. to follow the procedures laid down in the General Directions given by the Charity Commission under section 145{5)(b)" of the 2011 Act. and to state whether particular matters have coine to my attention. Basis of independent examiner's report My examination was Carried out in accordance with the General Directions given by the Chariry Commission. An examination include8 a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. Tt also includes consideraiion of any unusual items or disclosures in the financial sialements and seeking explanations from you as trustees concerning any such mallers. The procedures undertaken do noi provide all ihe evidence Ihal would be required in an audii, and consequently no opinion is given as to whether the financial statements present a 'true and fair view. and ihe report is limiied to those matters set out in the stateinent below. IndepeDdeDt examiner's statement In conncction with my cxamination, ni) mattcr has comc to my attcntion.. which gives me reasonable Cause to believe that in any rnaterial respect the requirements.. to keep accounting records in accordance with sectioii 130 of tlie 2011 Act: and to prepare financial ststements Mthich accord with the accounting record% and comply with the accounting reqllirements of the 2011 Aet., have not been made or bl to which, in niy opinion, attention should be drawn in ordei to enable a proper understanding of the financial statements to be reached. J P Francis FCA 1386 London Road Leigh on Sea Essex, SS9 2UJ Date.. 25th March 2024 Pogg 24