**REGISTERED CHARITY NUMBER: 1128447**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **FOR**
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY'S BLETCHLEY**
Parkers Cornelius House 178-180 Church Road Hove East Sussex BN3 2DJ
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY'S BLETCHLEY**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|5|
|**Independent Examiner's Report**||6||
|**Statement of Financial Activities**||7||
|**Balance Sheet**||8||
|**Notes to the Financial Statements**|9|to|18|
|**Detailed Statement of Financial Activities**||19||
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY'S BLETCHLEY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022**
The trustees present their report with the financial statements of the charity for the year ended 31st December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
Under the Parochial Church Council (Powers) Measure 1956 (as amended), the principal function of the PCC is 'co-operation with the minister in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical'.
The PCC ensures:
- provision of regular public worship, including personal prayer and contemplation, open to all;
- teaching of Christianity through sermons, courses and small groups;
- provision of a wide range of children's and youth activities across all age ranges;
- working in partnership with local schools;
- delivery of events and activities which promote the whole mission of the church across all age ranges, including those ministries concerned with local social action;
- working in partnership with other charities, organisations and individuals who are engaged in mission and delivering relief and development overseas and in the UK;
- provision of pastoral care including the visiting of the sick, the elderly and the bereaved;
- provision of services for weddings and funerals.
Throughout the year, the trustees have paid due regard to the Charities Commission's guidance on public benefit when exercising any powers or duties to which the guidance is relevant and, in particular, the specific guidance provided to charities for the advancement of religion.
Along with a team of paid staff, the church continues to rely on the voluntary work of a large number of people (in excess of 150) and it very much appreciates their service to the church and the local community.
Because of the diverse nature of the volunteering in both numbers, time and types of activity, it is not feasible to attribute a financial value to volunteer support.
Page 1
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY'S BLETCHLEY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
Our Vision and Mission, agreed in 2020, is to resource Church, Community and City with audacious faith, generosity, humility, unity and tenacity.
We have planted and revitalised three times in the last 6 years, the latest one being Peter Landry taking a small team to Whaddon Way Church in February 2022. All three congregations are growing, both numerically and spiritually and we are now beginning to see a replenishment in terms of people and finances here at St. Mary's.
As a Church we aim to be disciples that make disciples, we commit to being bible based and spirit led, we hold prayer as being key in God's Kingdom and we seek to deeply love and serve one another.
We have continued to provide regular public worship, mid-week and also on Sundays, with the latter available online.
A numerical highlight was the Remembrance Day service, which attracted over one thousand people around the war memorial, many of whom joined us for refreshments in the church afterwards.
The Pastoral Team has an ever increasing workload and as with many other ministries is noticing a reduction in the availability of volunteers. We wish to thank them, our Safeguarding Officer, and everyone who cares and supports others in our church family.
Despite being unable to appoint either a Children's or Youth Worker, the ministry to young people has continued and we are very grateful to the volunteers who have ensured this aspect of the work is maintained. Dream Factory, Messy Church and Toddler Group are all thriving with increasing numbers attending. Through the work of the Community Outreach Pastor we have also continued to deliver assemblies and arrange visits with many of the local schools, which have enhanced our links with families in our community.
We are also very grateful to the Strategic Development Fund of the Church of England for the continuing grant of funds to assist the work at St Mary's Community Centre. Through the activities run at the community centre, we have supported each other and our neighbours throughout the year, for example; through the weekly distribution of Surplus and donated food, the organising of Christmas presents for 100 local families, and during many conversations whilst sharing coffee, cake and meals together.
## **Staffing**
We acknowledge that 2022 has been difficult, with the restructuring process and then the period of ill health and phased return of the Rector, which have placed new challenges and additional responsibilities on all staff members.
We are hugely grateful for each one of you and all that you have done for St. Mary's this year.
Page 2
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY'S BLETCHLEY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **FINANCIAL REVIEW**
## **Financial position**
Income in 2022 of £436k amounts to a £37k increase over the prior year's figure of £399k or 9%. Regular giving has held up remarkably well given the current economic circumstances our church family find themselves in. Even more remarkable has been the exceptional generosity of families both inside and outside our congregation who have given additional one off gifts.
Expenditure of £385k shows a £26k reduction from the prior year's figure of £411k, primarily as a result of the staffing review undertaken in the early part of the financial year.
The net position for the year is thus a surplus of £50k which is an amazing turnaround from the £100k shortfall shown in the original budget for the year, justifying both the corrective actions we took and our faith that God would provide.
We have significant capital expenditure demands on the horizon. The quinquennial review of the church building highlighted stonework and other maintenance requirements that are likely to be in excess of £100k. The churchyard project has not been completed. Our sound and vision systems are in need of upgrade to meet post Covid expectations, and the community centre building has significant needs if it is to fulfil its potential as a base from which to serve the community. Each of these projects will be considered on their merits, relative priority, and possible sources of funding and grants. A team has been set up to specifically look for grant opportunities.
The church finances have always been carefully managed with a view to good stewardship. At times we have stepped out in faith, but never recklessly, and God has been faithful. When correction was needed to our financial path we have prayerfully undertaken that. This has put us in a position where we are reasonably secure in our ability to maintain current operations and fund some, but not all, of our vision aspirations, but we continue to rely totally on the generous giving of our church family who, we hope and pray, trust that their giving is used wisely.
## **Reserves policy**
Following review, the reserves policy remains:-
- To hold net realisable unrestricted and undesignated reserves (net current assets) equivalent to two months' spending, excluding spending which is funded from designated and restricted funds.
- To maintain realisable unrestricted and undesignated reserves at the policy level by setting an annual budget that achieves the policy and by monitoring the budget throughout the year, taking any action as appropriate.
Reserves for this purpose include accumulated unrestricted income, but exclude accumulated restricted income, designated income and income that could only be realised by selling assets held for the use of the PCC.
The reserves held under this policy meet current operational needs, ensure capacity to manage unforeseen financial difficulties which may arise from significant unexpected spending or drop in income, and provide a clear financial framework for the PCC and its sub committees to support decision making, including budget and strategic planning.
## **FUTURE PLANS**
We are very aware of considerable repairs required to the Church building, as highlighted by the recent Quinquennial Report, for which we are seeking grant-funding to come alongside our own finances.
We continue to wait upon God for His further direction on all things. As so often in the past we have seen His plans to be so much better than our own!
Page 3
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY'S BLETCHLEY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Parochial Church Council (PCC) is a corporate governance body established by the Church of England, formed under the Parochial Church Council (Powers) Measure 1956 (as amended), which defines its functions and powers, and as a charity is registered with the Charities Commission.
## **Recruitment and appointment of new trustees**
Appointment of PCC members is governed by and set out in the Church Representation Rules (contained in Schedule 3 to the Synodical Government Measure 1969 as amended). The clergy team, elected churchwardens and others are members by virtue of their office (see above). Deanery Synod representatives are elected by the Annual Parochial Church Meeting (APCM) and hold office for three years. Other PCC members are elected annually at the APCM.
As necessary each person who becomes a member of the PCC is given information about their responsibilities and duties as a charity trustee to enable them to carry out their role effectively.
## **Organisational structure**
The PCC responsibilities include all parish finance, its management and control, including the appointment of a Treasurer. As trustees, members of the PCC are responsible for keeping accounting records which disclose with reasonable accuracy and enable them to ascertain the financial position of the PCC. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the Church Accounting Regulations 2006 governing the individual accounts of the PCCs, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16 July 2014.
The PCC is responsible for safeguarding its assets and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Due to the level of income of the charity the PCC is required to have the financial statements subjected to an Independent Examination prior to publication.
## **Governance and Management**
The PCC meets at least 6 times per year. In order to ensure our Governance is as effective and efficient as possible, the following sub-groups of the PCC have met and operated throughout the year.
Ministries Mission and Outreach Organisation and Management.
There is also a Mission Partnership Group , that reports into the Mission and Outreach Group, which manages and oversees all grants and donations made to partner organisations and individuals engaged in delivering mission overseas and in the UK (including locally) in line with criteria agreed by the PCC. Through its budget the PCC aims to give away in grants and donations at least 10% of all general giving income.
## **Risk management**
The PCC recognises the need for appropriate policies and procedures to manage risk (including Health & Safety), across all areas of activity for which it is responsible, including its buildings and facilities, as well as a wide range of activities and events.
Page 4
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY'S BLETCHLEY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
The Parochial Church Council of the Ecclesiastical Parish of St Mary's Bletchley is a charity registered under the Charities Act. The Trustees, members of the PCC, who have served since the commencement of the financial year until the approval of the financial statements (unless otherwise stated), were as follows:-
## **Ministry Staff Team**
The Revd David McDougall Ex-officio The Revd Ben Thorpe Ex-officio The Revd Peter Landry Ex-officio The Revd Rachel Ciampoli Ex-officio
## **Church Wardens**
Charlotte Cashman Resigned 18 September 2022 Elected 30 May 2022, Resigned 18 September Grant Smith 2022 Mary Nicholls Elected 18 September 2022 Oliver Hermes Elected 18 September 2022
**Deanery Synod Representatives (elected for 3 years)** Alison Hammett Pam Lambert Rebecca Slingsby Jess Hampson (St Joseph's) Sue Gibbs (Whaddon Way)
## **Diocesan Synod Representative**
Stephen Walker
## **Other PCC members**
Chris Day (Chair of Finance) Sophie Fletcher Ann Rolfe (Treasurer) Judi Cumberland Max Johnstone Clare Reeves Penelope Powers Elected 30 May 2022 Ian Bland Elected 30 May 2022
Approved by order of the board of trustees on 9th May 2023 and signed on its behalf by:
O Hermes - Trustee
Page 5
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY'S BLETCHLEY**
## **Independent examiner's report to the trustees of The Parochial Church Council Of The Ecclesiastical Parish Of St. Mary's Bletchley**
I report to the charity trustees on my examination of the accounts of The Parochial Church Council Of The Ecclesiastical Parish Of St. Mary's Bletchley (the Trust) for the year ended 31st December 2022.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Annette Watson PhD BSc FCA
Parkers Cornelius House 178-180 Church Road Hove East Sussex BN3 2DJ
10th May 2023
Page 6
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY'S BLETCHLEY**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022**
|**2022**
Unrestricted
Restricted
**Total**
funds
funds
**funds**
Notes
£
£
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**329,636**
**22,442**
**352,078**
**Charitable activities**
General
**25,495**
**50,663**
**76,158**
Other trading activities
2
**7,439**
**-**
**7,439**
Investment income
3
**81**
**-**
**81**
**Total**
**362,651**
**73,105**
**435,756**
**EXPENDITURE ON**
**Charitable activities**
General
**292,564**
**92,926**
**385,490**
**NET INCOME/(EXPENDITURE)**
**70,087**
**(19,821)**
**50,266**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**239,515**
**239,732**
**479,247**
**TOTAL FUNDS CARRIED FORWARD**
**309,602**
**219,911**
**529,513**|2021
Total
funds
£
323,001
74,431
1,120
79
398,631
410,516
(11,885)
491,132
479,247|
|---|---|
The notes form part of these financial statements
Page 7
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY'S BLETCHLEY**
## **BALANCE SHEET 31ST DECEMBER 2022**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
6
**131,619**
**CURRENT ASSETS**
Debtors
7
**21,962**
Cash at bank and in hand
**164,712**
**186,674**
**CREDITORS**
Amounts falling due within one year
8
**(8,692)**
**NET CURRENT ASSETS**
**177,982**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**309,601**
**CREDITORS**
Amounts falling due after more than one year
9
**-**
**NET ASSETS**
**309,601**
**FUNDS**
11
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
**177,061**
**-**
**42,851**
**42,851**
**-**
**42,851**
**219,912**
**-**
**219,912**|**2022**
**Total**
**funds**
**£**
**308,680**
**21,962**
**207,563**
**229,525**
**(8,692)**
**220,833**
**529,513**
**-**
**529,513**
**309,601**
**219,912**
**529,513**|2021
Total
funds
£
320,774
8,026
175,007
183,033
(17,725)
165,308
486,082
(6,835)
479,247
239,515
239,732
479,247|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 9th May 2023 and were signed on its behalf by:
O Hermes - Trustee
The notes form part of these financial statements
Page 8
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY'S BLETCHLEY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The Parochial Church Council (PCC) is a corporate governance body established by the Church of England, formed under the Parochial Church Council (Powers) Measure 1956.
The PCC meets the definition of a Public Benefit Entity under FRS 102.
## **Financial reporting standard 102 - reduced disclosure exemptions**
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
## **Funds**
## **Restricted Funds:**
Restricted funds are those funds that can only be spent on restricted purposes and details of the funds held and restrictions provided are shown in the notes to the accounts.
## **Unrestricted Funds:**
Unrestricted funds represent the remaining income funds of the PCC that are available for spending on the general purposes of the PCC, including amounts designated by the PCC for fixed assets for its own use or for spending on a future project, and which are therefore not included in its "free reserves" as disclosed in the Trustees' Report.
## **Recognition of Income:**
This is recognised in the Statement of Financial Activities (SoFA) when: a) the PCC becomes legally entitled to the benefit of the use of the resources;
b) the monetary value can be measured reliably; and
- c) receipt is probable, with sufficient certainty of receipt (receipt is more likely than not).
## **Income with Related Expenditure:**
Where incoming resources have related expenditure (as with fundraising income or certain events) the incoming resources and related expenditure are reported gross in the SoFA.
## **Grants, Legacies and Donations:**
Donations, grants and legacies include all income received by the charity that is, in substance, a gift made to it on a voluntary basis and are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable, its ultimate receipt by the PCC is reasonably certain, and when any pre-conditions preventing its use by the PCC have been met. For donations, collections and regular giving, these are accounted for when the funds are received.
## **Tax Reclaims on Donations and Gifts:**
Gift Aid and other tax reclaims are included in the SoFA at the same time as the donations to which they relate.
## **Gifts in Kind:**
Gifts in Kind are accounted for at a reasonable estimate of their value at the time of the gift to the PCC, if feasible, or else at the amount actually realised from their disposal.
Gifts in Kind for sale to fund the PCC are included in the accounts at the estimated market value at the date of the gift, if feasible, or else recognised when sold by the PCC.
Page 9
continued...
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY'S BLETCHLEY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **1. ACCOUNTING POLICIES - continued**
## **Funds**
Gifts in Kind for use by the PCC are included in the SoFA as incoming resources when receivable, and expensed as and when consumed in use. Gifts of fixed assets, if material, are included in the balance sheet at their current value (i.e. the lower of replacement cost and recoverable amount) and expensed over the asset's useful economic life. Other donated goods are measured at their fair value, unless this is impractical to measure reliably.
## **Donated Services and Facilities:**
These are only included in incoming resources (and at the same time in resources expended) at the estimated value to the PCC of the service of facility received, or the amount actually realised.
Volunteer Help: The value of voluntary help received is not included in the accounts but is referred to in the Trustees' Annual Report.
## **Rental Income:**
Rental income from letting of the church, or buildings owned by the PCC, is recognised when the rental is due.
## **Investment Income:**
This is included in the accounts when receivable.
## **Investment Gains and Losses:**
This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
## **Expenditure**
## **Liability Recognition:**
Liabilities are recognised as soon as the legal or constructive obligation arises.
## **Activities directly relating to the work of the Church:**
The Diocesan parish share is accounted for when due. Any agreed parish share unpaid at 31st December is provided for in these financial statements as an operational (though not a legal) liability and is shown as a creditor in the balance sheet.
## **Other Expenditure:**
Includes the cost of governance arrangements which relate to the general running of the PCC as opposed to the direct management functions inherent in generating funds and the work of the parish. Includes cost of the preparation and examination or audit of statutory accounts, the costs of trustee meetings and costs of any legal or other professional advice to trustees on governance or constitutional matters. Included within this category are any costs associated with the strategic as opposed to day to day management of the PCC's activities.
## **Tangible fixed assets**
Tangible Fixed Assets for use by the PCC: Expenditure on individual assets costing £1,000 and over, and which can be used for more than one year, has been capitalised and depreciated in the financial statements over their currently anticipated useful economic life on a straight-line basis. Assets are valued at cost or at reasonable value on receipt and an assessment is made at each reporting date as to whether further write down in value is required. All expenditure incurred during the year on individual assets costing less than £1,000 is written off in the year the expenditure occurred. The land and buildings at cost brought forward includes the Church Hall in Church Green Road, Bletchley at a cost of £4,500 which represents the PCC's best estimate of original cost when the building was constructed in 1963. Subsequent improvements are included at cost. St Mary's Community Centre in Warwick Road, Bletchley which was acquired in August 2003 for £250,000 is also included at cost.
Page 10
continued...
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY'S BLETCHLEY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **1. ACCOUNTING POLICIES - continued**
## **Tangible fixed assets**
## **Consecrated Land, Buildings, and Movable Church Furnishings:**
Consecrated and beneficed property of any kind is excluded from the financial statements by S.10(2)(a) and (c) of the Charities Act 2011.
Movable church furnishings held by the Rector and Church Wardens 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 1st January 2003 there is insufficient cost information available and therefore such assets are not valued in the financial statements. Expenditure since 1st January 2002 and costing £1,000 and over, has been capitalised and depreciated in the financial statements over the currently anticipated useful economic life on a straight-line basis.
All expenditure incurred in the year on consecrated of beneficed buildings, individual items under £1,000 or on the repair or replacement of movable church furnishings acquired before 1st January 2003 is written off.
## **Buildings, Other Fixtures, Fittings, Equipment and Vehicles:**
Expenditure on buildings owned by the PCC is depreciated on a straight-line basis over 50 years.
Expenditure of £1,000 and over on fixtures, fittings and equipment within the church and other PCC premises and on motor vehicles is depreciated on a straight-line basis over 4 years. In view of their anticipated useful economic life the Howe 40/4 chairs purchased in 2010 are being depreciated on a straight-line basis over 20 years.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Going concern**
The accounts have been prepared on a going concern basis. The Trustees believe that this is an appropriate basis of preparation. There are no material uncertainties about the PCC's ability to continue as a going concern.
## **Basic financial instruments**
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. All the PCC's financial instruments are within the definition of basic financial instruments per section 11 of FRS 102.
## **Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
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continued...
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY'S BLETCHLEY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **1. ACCOUNTING POLICIES - continued**
## **Creditors and provisions**
Creditors and provisions for future liabilities are recognised when the charity has a legal or constructive financial obligation, that can be reliably estimated, and for which there is an expectation that payment will be made.
## **Pensions**
The pension costs charged in the financial statements represent the contributions payable by the company to the defined contribution schemes during the year.
## **Investments**
Investments are valued at market value at the year end.
## **Short-term deposits**
Include cash held on deposit at the bank.
## **2. OTHER TRADING ACTIVITIES**
## **3.**
|Income from buildings and fund raising
Minibus rental
**INVESTMENT INCOME**
Interest receivable - trading|**2022**
**£**
**7,378**
**61**
**7,439**
**2022**
**£**
**81**|2021
£
1,090
30|
|---|---|---|
|||1,120|
|||2021
£
79|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31st December 2022 nor for the year ended 31st December 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31st December 2022 nor for the year ended 31st December 2021.
## **5. STAFF COSTS**
The average monthly number of employees during the year was as follows:
||**2022**|2021|
|---|---|---|
|Church activities|**10**|10|
No employees received emoluments in excess of £60,000.
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continued...
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY'S BLETCHLEY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **6. TANGIBLE FIXED ASSETS**
|Freehold
Plant and
property
machinery
£
£
**COST**
At 1st January 2022 and
31st December 2022
**398,624**
**5,700**
**DEPRECIATION**
At 1st January 2022
**105,524**
**5,700**
Charge for year
**5,972**
**-**
At 31st December 2022
**111,496**
**5,700**
**NET BOOK VALUE**
At 31st December 2022
**287,128**
**-**
At 31st December 2021
293,100
-
**7.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
**8.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 10)
Trade creditors
Other creditors|Fixtures
and
fittings
£
**179,293**
**151,619**
**6,122**
**157,741**
**21,552**
27,674
**2022**
**£**
**548**
**21,414**
**21,962**
**2022**
**£**
**-**
**5,003**
**3,689**
**8,692**|Totals
£
**583,617**|Totals
£
**583,617**|
|---|---|---|---|
|||**262,843**
**12,094**||
|||**274,937**||
|||**308,680**||
|||320,774||
||||2021
£
-
8,026|
||||8,026|
||||2021
£
7,693
-
10,032|
||||17,725|
Page 13
continued...
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY'S BLETCHLEY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
|Bank loans (see note 10)
**10.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
**11.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
Designated fund: buildings fabric fund
**Restricted funds**
Buildings: church hall & community
centre
Church hall
Howe chairs
Community Support
Bell tower maintenance
Buildings - St Mary's flag standards
Other projects
Tree seat
St Joseph's Church
Community Outreach Projects
Camera fund
Patio Doors Fund
**TOTAL FUNDS**|At 1/1/22
£
**190,844**
**48,671**
**239,515**
**162,254**
**4,500**
**15,657**
**8,712**
**4,428**
**52**
**5,498**
**2,287**
**26,757**
**4,087**
**500**
**5,000**
**239,732**
**479,247**|**2022**
**£**
**-**
**2022**
**£**
**-**
**-**
Net
movement
in funds
£
**63,927**
**6,159**
**70,086**
**(3,398)**
**-**
**(1,952)**
**(1,070)**
**360**
**-**
**(5,498)**
**(2,287)**
**(1,109)**
**134**
**-**
**(5,000)**
**(19,820)**
**50,266**|2021
£
6,835
2021
£
7,693
6,835
At
31/12/22
£
**254,771**
**54,830**|2021
£
6,835|
|---|---|---|---|---|
|||||2021
£
7,693|
|||||6,835|
||||**309,601**
**158,856**
**4,500**
**13,705**
**7,642**
**4,788**
**52**
**-**
**-**
**25,648**
**4,221**
**500**
**-**||
||||**219,912**||
||||**529,513**||
Page 14
continued...
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY'S BLETCHLEY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **11. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Designated fund: buildings fabric fund
**Restricted funds**
Buildings: church hall & community
centre
Howe chairs
Community Support
Bell tower maintenance
Other projects
Tree seat
St Joseph's Church
Rectors
Community Outreach Projects
Patio Doors Fund
**TOTAL FUNDS**|Incoming
resources
£
**344,899**
**17,752**
**362,651**
**-**
**(1)**
**7,023**
**400**
**49,695**
**-**
**15,292**
**350**
**346**
**-**
**73,105**
**435,756**|Resources
Movement
expended
in funds
£
£
**(280,972)**
**63,927**
**(11,593)**
**6,159**
**(292,565)**
**70,086**
**(3,398)**
**(3,398)**
**(1,951)**
**(1,952)**
**(8,093)**
**(1,070)**
**(40)**
**360**
**(55,193)**
**(5,498)**
**(2,287)**
**(2,287)**
**(16,401)**
**(1,109)**
**(350)**
**-**
**(212)**
**134**
**(5,000)**
**(5,000)**
**(92,925)**
**(19,820)**
**(385,490)**
**50,266**|
|---|---|---|
Page 15
continued...
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY'S BLETCHLEY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **11. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Designated fund: buildings fabric fund
**Restricted funds**
Buildings: church hall & community
centre
Church hall
Howe chairs
Community Support
Bell tower maintenance
Buildings - St Mary's flag standards
Other projects
Tree seat
St Joseph's Church
Community Outreach Projects
Camera fund
Patio Doors Fund
**TOTAL FUNDS**|At 1/1/21
£
212,791
44,729
257,520
165,652
4,500
17,608
9,895
4,348
52
3,875
2,381
21,222
4,079
-
-
233,612
491,132|Net
movement
in funds
£
(21,947)
3,942
(18,005)
(3,398)
-
(1,951)
(1,183)
80
-
1,623
(94)
5,535
8
500
5,000
6,120
(11,885)|At
31/12/21
£
190,844
48,671|
|---|---|---|---|
||||239,515
162,254
4,500
15,657
8,712
4,428
52
5,498
2,287
26,757
4,087
500
5,000|
||||239,732|
||||479,247|
Page 16
continued...
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY'S BLETCHLEY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **11. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Designated fund: buildings fabric fund
**Restricted funds**
Buildings: church hall & community
centre
Howe chairs
Community Support
Bell tower maintenance
Other projects
Tree seat
St Joseph's Church
Rectors
Community Outreach Projects
Camera fund
ODBF Fund
Patio Doors Fund
**TOTAL FUNDS**|Incoming
resources
£
303,135
12,352
315,487
-
-
9,575
80
1,623
-
11,566
638
380
2,229
52,053
5,000
83,144
398,631|Resources
Movement
expended
in funds
£
£
(325,082)
(21,947)
(8,410)
3,942
(333,492)
(18,005)
(3,398)
(3,398)
(1,951)
(1,951)
(10,758)
(1,183)
-
80
-
1,623
(94)
(94)
(6,031)
5,535
(638)
-
(372)
8
(1,729)
500
(52,053)
-
-
5,000
(77,024)
6,120
(410,516)
(11,885)|
|---|---|---|
## **12. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31st December 2022.
## **13. PURPOSE AND RESTRICTIONS OF FUNDS HELD**
During the year the PCC held the following funds:
## **Restricted funds**
## **Fund name Purpose and restrictions**
Building: Church Hall & Community centre Church Hall Howe chairs Church Community Centre Bell tower maintenance St Mary's flag standards Tree seat St Joseph's Church Rectors fund Community Outreach Projects Camera
ODBF
Finance the acquisition of Community centre, subsequent building works and Church Hall remodelling Donations towards original construction of Church Hall Donations towards purchase of Howe 40/4 chairs Donations towards Church Community Centre projects Donations to cover expenditure on the bell tower Donations to cover future expenditure Donations for tree seat in churchyard Donations to contribute to the running of the Church. Donations to be used as the Rector sees fit Donations towards the Community Outreach programme Donations towards camera equipment Grant income from the Strategic Development Fund to enable SMB as a Resourcing Church
Page 17
continued...
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY'S BLETCHLEY**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **13. PURPOSE AND RESTRICTIONS OF FUNDS HELD - continued**
|Patio doors|Donations towards new patio doors|
|---|---|
|**Unrestricted funds**||
|**Fund name**|**Purpose and restrictions**|
|Building fabric|Building repairs and maintenance|
Page 18
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY'S BLETCHLEY**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022**
||2022|2021|
|---|---|---|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|**290,376**|272,819|
|Gift aid|**61,702**|50,182|
||**352,078**|323,001|
|**Other trading activities**|||
|Income from buildings and fund raising|**7,378**|1,090|
|Minibus rental|**61**|30|
||**7,439**|1,120|
|**Investment income**|||
|Interest receivable - trading|**81**|79|
|**Charitable activities**|||
|Grants|**76,158**|74,431|
|**Total incoming resources**|**435,756**|398,631|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Wages|**164,800**|193,268|
|Sundries|**203,582**|195,175|
|Depreciation of tangible fixed assets|**12,094**|18,781|
||**380,476**|407,224|
|**Support costs**|||
|**Governance costs**|||
|Accountancy and legal fees|**5,014**|3,292|
|Total resources expended|**385,490**|410,516|
|**Net income/(expenditure)**|**50,266**|(11,885)|
This page does not form part of the statutory financial statements
Page 19