**Charity registration number 1128597** 

# **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 DECEMBER 2023** 



## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **LEGAL AND ADMINISTRATIVE INFORMATION** 

## **Parochial Church Council** 

Revd J Blair (Vicar) Revd C Blair (Vicar) Revd C Merrick (Assistant Minister) Mr N Stuart (Emly Deanery Synod Representative) 

Mrs C Abson (Elected Member) Ms E Cairns (Elected Member) Mrs H Gaunt (Elected Member) Mrs K Scott (Elected Member) Mr J Waggott (Elected Member) Mr D Henderson (Churchwarden) Mrs J Todd (Churchwarden) Revd David Bixby (Curate) Mrs R Warner (Emly Deanery Synod Representative) Mrs T Clarke (Elected Member) Mr A Harding (Elected Member) Mrs F Le Moign (Elected Member) Mrs A Redshaw 

(Appointed 24 April 2023) 

(Appointed 24 April 2023) (Appointed 24 April 2023) (Appointed 24 April 2023) (Appointed 4 December 2023) 

**Secretary to the Trustees** Mr N Stuart 

**Charity number** 1128597 **Principal address** Parish Office St Mary's Church Hall Church Street Walton - on - Thames Surrey KT12 2QS 

**Independent examiner** Frances Wilde FCCA DChA Warner Wilde Chartered Certified Accountants 4 Marigold Drive Bisley Surrey GU24 9SF 



## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **CONTENTS** 

||**Page**|
|---|---|
|Parochial Church Council's report|1 - 7|
|Independent examiner's report|8|
|Statement of financial activities|9 - 10|
|Balance sheet|11|
|Notes to the financial statements|12 - 26|





## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **PAROCHIAL CHURCH COUNCIL'S REPORT** 

## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 

The Parochial Church Council present their annual report and financial statements for the year ended 31 December 2023. 

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Parochial Church Council's governing document, 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 applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". 

## **Objectives and activities** 

The Parochial Church Council (PCC) has the responsibility of co-operating with the Incumbent, in promoting in the ecclesiastical parish the whole mission of the Church: pastoral, evangelistic, social and ecumenical. It has responsibility for St. Mary’s Church, St John’s Church and Hall, St. Mary’s Church Hall, the properties in Egmont Road and Misty’s Field and the overview of the Vicarage. 

The PCC, through its officers and working groups, manages the affairs of the churches and the following pages set out this work in detail. In common with previous years, the ministry of our parish focuses principally on worship, prayer, mission, fellowship, discipleship and active involvement in the local community. 

The aims and activities of the Charity can be summed up as: 

1. Regular public worship, open to all. 

2. Promoting the whole mission of the Church, through outreach work in the parish and the provision of activities for parents and toddlers, children and young people and a number of other special need groups. 

3. Pastoral work including the visiting of the sick and bereaved. 

4. Teaching of the Christian faith through sermons, courses and small groups. 

5. Taking of religious assemblies in schools. 

6. The provision of sacred space for personal prayer and contemplation. 

7. Supporting other charities in the UK and overseas. 

During the year these aims and activities were reflected in a wide range of ministry and mission across the Parish. 

Under Section 17(5) of the Charities Act 2011, the PCC must have regard to any Charity Commission guidance when exercising any powers or duties to which such guidance is relevant.  The PCC acknowledge the statutory requirement to report on the Charity’s public benefit and they confirm that they have had regard to Charity Commission guidance on public benefit where relevant to matters to which the guidance relates. 

## **Vision** 

We continued following the vision, “Taking our next steps towards (i) deeper faith in Christ, (ii) welcome and belonging and (iii) shining God’s light”. 

- 1 - 



## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **PAROCHIAL CHURCH COUNCIL'S REPORT  (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 

## **Achievements and performance** 

_Significant activities and achievements against objectives_ 

## **Worshipping Congregations** 

During the year, the pattern of weekly services has been as follows: 

## **St. Mary’s** 

9.00am Holy Communion, which was live streamed 10.15am All Age in the Church Hall 6.30pm Evening Praise (EP).  At the beginning of the year, this was weekly. 

Once ‘The 4’ (4.00pm service at St. John’s) was introduced, EP initially became three times a month and then twice a month 

## **St. John’s** 

10.30am Morning Service ‘The 4’ This service at 4.00pm was started after Easter. Initially it was once a month and became twice a month in September 

Various other initiatives continued on-line during the year, including Life groups, Alpha, the Prayer Course and the Bible Course. 

Refreshments were served between the two morning services at St. Mary’s and after the morning service at St. John’s. 

## **Music** 

We are very grateful to all the musicians who served the Church throughout the year, especially to James Scott, Carol Abson and Rev Dave Bixby. We hired the talents of James Marr to play monthly at the 9.00am service and some special services. At the morning services at St. John’s and some services at St. Mary’s, we used iSing worship 

## **Festivals and Special Services** 

The annual ANZAC service at the end of April was again well attended. Representatives from the New Zealand High Commission, Australian and New Zealand defence forces as well as local civic dignitaries and a good congregation attended. 

On Remembrance Sunday in November, a Churches together service and Act of Remembrance took place at the War Memorial in Walton-on-Thames. Large numbers of uniformed groups and the general public attended.  A special thank you to Joanna Gordon, Melvyn Mills, Simon Mason and others who helped out in so many aspects. Again, it was a huge success and greatly appreciated by those who attended. 

The Easter Morning Sunrise service was held by the river at Cowey Sale, thanks to the wonderful organisation and logistics work from Melvyn and Jill Mills and with thanks to the café which open the car park for everyone to use. After the service, Hot Cross Buns were provided and people bought refreshments from the café. 

## **Personnel** 

A highlight of the year was the weekend of ordinations. Rev Dave Bixby was ordained priest on the 1[st] of July and Berenice Page, who has served in the Parish for many years, including as Churchwarden, was ordained Deacon. She will serve her curacy in Addlestone. 

Otherwise, it was a challenging year for staffing. 

Rev Cathy Blair reduced her hours working in the Parish as she took up a new part-time role with the Diocese of Guildford. Her hours reduced during the second half of the year and at the beginning of 2024, this reduced to one day a week. 

Rev Vlada Raking finished his curacy placement with us in the summer. Two staff members were off on long-time sick leave undergoing treatment. Mrs Sam Harrison continues to provide excellent office support in her part-time role as Administrator. 

- 2 - 



## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **PAROCHIAL CHURCH COUNCIL'S REPORT  (CONTINUED)** 

## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 

Mrs Julia Gorrie provides very thorough and greatly appreciated support for the safeguarding and finance teams. We advertised twice during the year for a new full-time position of Associate Minister but were unable to appoint. 

The three Pastoral Assistants continued to support people in the parish by keeping in touch, through caring phone calls and visits, as permitted and requested. This ministry is greatly appreciated and valued across the Parish. 

## **Children and Youth** 

Our ministry to families, youth and children remains central to the ministry of the Parish, with a focus on discipleship for the whole family. 

We have run a popular weekly All Age service in the St. Mary’s Church Hall, which many families have enjoyed as they are able to stay together to worship God. 

The popular Toddlers’ Praise services for all ages of pre-school children, with its dedicated team of volunteers, ran in the first part of the year only. 

Our part-time youth minister left in February, but a small team were able to continue running ‘The Way’; the Youth group Bible study on Monday nights. 

Youth Fellowship continued throughout the year on Sunday Evenings as a community youth group and performed another popular pantomime after Christmas. 

## **Connections** 

This monthly opportunity, on a Saturday late morning and lunchtime, for retired people to gather for tea, coffee, food, chat, games and a short thought for the day, has gained in popularity throughout the year. 

## **Annual Parochial Church Meeting (APCM)** 

The Annual Vestry and Church meeting was held at the end of April in person at St. John’s.  Mr David Henderson was voted in as Churchwarden. 

## **Alpha** 

The Alpha course was run on Tuesday evenings in January over Zoom. For the first time for many years, there was no Alpha course in the Autumn term. Those attending Alpha in January found it a wonderful, faith giving and faith encouraging course and there are some marvellous stories of lives wonderfully changed by the grace and power of God. 

## **Outreach** 

The popular annual, week-long Holiday Club, which has been held in August for many years, was held again this year at St. John’s. It was enthusiastically led and managed by Shireen Redman, with help from many others, including Thomasin Clarke and Tracey Fox. It again proved to be very popular with primary school aged children. 

The Church hosted local schools for major Christian festivals, celebrations and learning events and regularly visited, especially Ashley C of E Primary School, for assemblies. 

Revd. Cathy Blair remained a governor at Ashley C of E Primary School. 

## **Foodbank** 

During the year, Foodbank continued to operate twice a week from St. John’s Room, which is its main distribution centre.   Foodbank continues to provide a very valuable service to those in need in the local community. There continued to be significant demand for and use of Foodbank in the challenging financial climate of 2023. 

- 3 - 



## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **PAROCHIAL CHURCH COUNCIL'S REPORT  (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 

## **Walton Churches Together** 

The Vicars continue to work with other Church leaders to encourage the Churches in Walton-on-Thames to pray, worship and work together more. The popular outdoor Service and Act of Remembrance in November and Easter Day Sunrise service were well attended. 

St. Mary’s hosted the annual Churches Together service for the week of Prayer for Christian Unity in January. 

## **Occasional Offices** 

During the year, we conducted 5 weddings and 1 renewal of marriage vows, 20 Baptisms and 20 funerals (2022: 21) in the year, eleven of which included a service in Church. 

## **Financial review** 

The accounts have been prepared in accordance with the Church Accounting Regulations together with applicable Accounting Standards and the Charities Statement of Recommended Practice. 

The financial performance for the year has been influenced by two key factors: 

1. An increase in income due to fundraising for the Associate Minister; and 

2. A successful grant application for work on the kitchen at St Mary’s Church Hall, funded from the Community Infrastructure Levy administered by Elmbridge Borough Council. This increased income by over £95,000. 

Overall, our income during 2023 increased to £465,859 (2022 - £415,063). In addition to the grant funding we benefited from ‘one-off ‘income from property rental of £7,000. Underlying giving, excluding designated amounts decreased from   £176,966 to £167,948. 

Grants received from the Church Fund Trust for the repair and maintenance of our churches and churchyards amounted to £46,710 (2022: £40,430).  Expenditure was managed as closely as possible throughout the year to ensure that our cost base remained low. 

The unrestricted funds of the charity, which reflects our main income and expenditure, ended the year with a surplus of £52,530, of which £31,504 is designated for a new Children and Families Associate Minister. 

During the year the PCC requested permission from the Charity Commissioners to combine the Children and Families, Under Fives Minister and Youth Funds and to re-classify them as unrestricted, designated funds. This is reflected in note 22 as a transfer from restricted funds. 

The restricted funds have increased due to the grant income referred to above, most of which has been fully spent but the costs capitalised on the balance sheet. 

## **Reserves Policy** 

Historically it is has been the PCC’s policy to maintain a cash balance in the Reserve Fund equating to approximately three months’ unrestricted payments. The year-end net assets on the Unrestricted Fund is more than three months of general fund payments. 

## **Risk Assessment** 

The Trustees have considered the major risks to which the Parish is exposed. They have reviewed those risks and established systems and procedures to manage them. 

- 4 - 



## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **PAROCHIAL CHURCH COUNCIL'S REPORT  (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 

## **Plans for future periods** 

We continue to look to our faithful God to lead us forward in faith in Jesus Christ as Saviour and Lord and empower us by His Holy Spirit in worship, service, giving and proclaiming His name in word and deed. 

We will continue to focus on living out the strategic priorities of our vision. 

The Church greatly appreciates the many ways volunteers offer of their time, skills and money to serve the Church and the community. As is the case for all Churches following the Covid-19 pandemic, we are in need of more volunteers in all areas of Church life, including ministry in services, to children and young people and serving the community. 

## **Emly Deanery Synod Report** 

During 2023 there were three meetings of the Synod. 

The topics covered at the meetings were: 

1. How best can we partner with our local council? The presenter was Ray Lee who is the Strategic Director of Elmbridge Borough Council who outlined the various initiatives which EBC are doing to help support those in need especially in Cobham, Esher and Walton which have areas of significant deprivation. He was told of the various initiatives being run by the parishes such as the Winter Shelter for the homeless, Foodbanks, Community Cafes and other local activities. 

3. The Parish Needs Process and the Church Development Plans. Richard Lloyd, the head of the Diocesan Mission Enabler Team, talked about how churches, as part of their CDP, could grow disciples. He showed how Life Groups were a key part of the process and gave an overview of the workshop he and his team run to help parishes. The outcome from this was that Alastair Etheridge from the Mission Enabler Team ran a workshop for the PCC and worship leaders in November 2023. 

4. Stewardship Campaigns. David Senior from the Mission Enabler Team gave a presentation and practical tips on how parishes can run a successful campaign. 

## **General Data Protection Regulation (GDPR)** 

The Parish always works hard to comply with all GDPR requirements. It keeps records of the basic information supplied by members of the congregation. Typically, this includes names, addresses and church groups. Details of Planned Giving are kept separately and are confidential to designated members of the Parish Finance Team. None of this information is divulged to any outside individuals or organisations. 

All the information is stored for use solely for administrative purposes within the parish in accordance with GDPR. Anyone with concerns about this is invited to contact the Parish Office. The Parish uses a software programme called ChurchSuite, which ensures GDPR compliance and is used as a Parish address book, registration for all children’s and young people’s groups, the Electoral Roll and other matters. 

## **Safeguarding Children and Vulnerable Adults Policy** 

The PCC adheres to the Diocesan Safeguarding Children and Vulnerable Adults Policy and there were no issues to report during the year. All members of the PCC and those working with children and vulnerable adults are required to complete the necessary safeguarding training. Katharine Scott continues brilliantly in the role of Parish Safeguarding Officer for Children. Wendy Fitch and Louise Turner act as safeguarding officer for Vulnerable Adults. After many years of faithful service, Carol Collings has stepped down from the role as our DBS Validator.  Julia Gorrie, our Safeguarding Administrator, does a fabulous job at ensuring new people are safely recruited and trained and existing volunteers are up to date with their safeguarding courses. 

- 5 - 



## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **PAROCHIAL CHURCH COUNCIL'S REPORT  (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 

## **Structure, governance and management** 

The Parochial Church Council of the Ecclesiastical Parish of Walton on Thames was registered as a charity on 17 March 2009. It is governed by the Parochial Church Council (Powers) Measure 1956 issued by the Church of England which was adopted on 2 January 1957. 

The Trust is connected to the Church Fund (commonly referred to as the Church Fund Trust). The Church Fund Trust is a separately registered charity number 247465, with its own Board of Trustees and charitable objectives. The objects of the charity are to support St. Mary's Church, Walton and St. John's, Cottimore. Two thirds of the Trustees of The Church Fund are either members of the PCC or their nominees. 

The Trust owns two houses for the provision of housing for Ministers working in the parish. 

The Parochial Church Council who served during the year and/or up to the date of signature of the financial statements were: 

Revd J Blair (Vicar) Revd C Blair (Vicar) Revd C Merrick (Assistant Minister) Mr N Stuart (Emly Deanery Synod Representative) Mrs C Abson (Elected Member) Ms E Cairns (Elected Member) Mr A Duke (Elected Member) (Resigned 24 April 2023) Mrs H Gaunt (Elected Member) Mrs C Schroeder (Elected Member) (Resigned 19 June 2023) Mrs A Spray (Elected Member) (Resigned 3 March 2023) Mrs K Scott (Elected Member) Mr J Waggott (Elected Member) Mr D Henderson (Churchwarden) Mrs A Maddocks (Emly Deanery Synod (Resigned 13 March 2023) Representative) Revd V Rakin (Curate) (Resigned 16 July 2023) Mrs J Todd (Churchwarden) Revd David Bixby (Curate) Mrs R Warner (Emly Deanery Synod Representative)(Appointed 24 April 2023) Mrs T Clarke (Elected Member) (Appointed 24 April 2023) Mr A Harding (Elected Member) (Appointed 24 April 2023) Mrs F Le Moign (Elected Member) (Appointed 24 April 2023) Mr A Berkinshaw-Smith (Elected Member) (Resigned 17 January 2023) Mrs A Redshaw (Appointed 4 December 2023) Mr S Hay (Resigned 24 April 2023) 

## _Recruitment and appointment of trustees_ 

The appointment of Trustees is as per the Church Representation Rules. They comprise of elected members (at the Annual Parochial Church Meeting) and ex officio members. Retiring Trustees are eligible for re-appointment for a further period subject to their retaining the qualifications laid down in the Church Representation Rules. 

- 6 - 



THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF WALTON ON THAMES
PAROCHIAL CHURCH COUNCIL'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
The Paro¢hial Churth Counofs report was approved by the Board of Parod)ial Church CouncAI.
T•.L @l￿- ,
Revd J Blair (VIc8rl
Chairnian ofthe PCC

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF WALTON ON THAMES
INDEPENDENT EXAMINER'S REPORT
TO THE PAROCHIAL CHURCH COUNCIL OF THE PAROCHIAL CHURCH COUNCIL OF
THE ECCLESIASTICAL PARISH OF WALTON ON THAMES
I report to th8 Parochial Church Council on rny èxamination of the financial ststements of The Parochial Church
Counol of the Ecd&slastical Park%h of Walton on Thames Ithe Parochial Church Coundl} for th& ended 31
De￿mber 2023.
R•9pDn•lblll￿O* and ba818 of rpport
As the Parochid Churth Council of the Parochial Church Council you are responsib￿ for the prèparation of thè
finanaal stalgrngnts in accordan￿ with the requirements of Ihe CharitiesAct 20111th8 2011 Acti.
I report in respect of my &xaminstion ol thg Parochial Church CoitnrAI's finanrial statements carried out under
sedon 145 of tha 2011 Act In carryin9 Qut my examination I have folbwed all the applicable Dir8cUons gfven by tha
Chaiity Commission u￿lerBec1ion 1451Sllbl ofthe 2011 ACL
Indepgndgnt•xamln•fs gtat•m•nt
Sinc£ th8 Parothial Church Coun&l's gross Incoma exc8sdad £250,000 your examinar must ￿ a rnernb8r of
body listed in section 145 of the 2011 Act I confirm that l arn qualified to undertake the examination because l am a
member ofth8 AssocJatlon of Ch8tsr8d Cèrtifi8dAC￿Untsnts, which is one oflhe listed bodies.
Your attantion is drawn to th8 fact that th8 charity ha3 prepared financial statements in accordanc8 Wth Accounting
and Reporbng by Charitses preparing their accounts in acurdance wllh the Financial Reporting Standard 8pplicabl8
in tha UK and Republic of Ireland IFRS 1021 in praforanca to tha Accounbng and Reporting by Chariti88'. Statement
of Recornmended Practs"c& issuod on l April 2005 whi¢h 13 r8fgrred lo in the extant re9ulations but has now been
withdrawn.
l und&￿tand that thiB has b8en do￿ in order for flnandal statèmènts to provide a trug and fair vw in accordance
th Gen8rallyAwtadAccounting Pra¢ti¢e effective for Teporting periods beginning on or after 1 Januory 2015.
I havè completed rny 8xamination. I confim that no mattèrs hava com& to my attènlitsn in connecfjon wth th?
•xamination gi￿n9 me cause to believe that In any matèrial Msp8Ct..
accounlng records were not kept in TespeGI of the Parochial Church Counol as requitsd by 88etion 130 of the
2011 Ac(. or
the financial statèmènts dts not accord wlh those records.. or
the financial ststaments do not comply with the applicab￿ requirements conceming the fom) and cL)ntènt of
accounts sgt out in the Charities IAcLounts and Reportsl Regulations 2008 otherthan any raqu1￿mant that thè
accounts givè a tru8 and fairvtew which is not a matter consKlor¢d as p8rt of an ind8pÈndent Èxamination.
I have no concems and ha￿ coma across no 0th8r rnatt8r8 in connection with the examination to which attantion
should be drawn In thig r•port in QTdgr lo enab￿ a proper und&rstandlng of th8 financial ststsmants to ￿ rèachsd.
Franc￿ Wlld• FCCA DChA
Wam•rWild8
Charte￿d CortifiadAecountsnts
4 Marigold Drive
Bis18y
Surrey
GU24 9SF
Datsd..

## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **STATEMENT OF FINANCIAL ACTIVITIES** 

## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 

|**Current financial year**<br>**Unrestricted Unrestricted**<br>**Restricted Endowment**<br>**funds**<br>**funds**<br>**funds**<br>**funds**<br>**general designated**<br>**2023**<br>**2023**<br>**2023**<br>**2023**<br>**Notes**<br>**£**<br>**£**<br>**£**<br>**£**<br>**Income and endowments from:**<br>Donations and legacies<br>**3**<br>167,948<br>31,516<br>188,174<br>-<br>Charitable activities<br>**4**<br>19,264<br>-<br>-<br>-<br>Other trading activities<br>**5**<br>200<br>-<br>-<br>-<br>Investments<br>**6**<br>52,440<br>-<br>-<br>1,641<br>Other income<br>**7**<br>4,676<br>-<br>-<br>-<br>**Total income and**<br>**endowments**<br>244,528<br>31,516<br>188,174<br>1,641<br>**Expenditure on:**<br>Raising funds<br>**8**<br>164<br>-<br>-<br>-<br>Charitable activities<br>**9**<br>223,338<br>12<br>83,792<br>-<br>Total expenditure<br>223,502<br>12<br>83,792<br>-<br>Net gains/(losses) on<br>investments<br>**14**<br>-<br>-<br>-<br>5,203<br>**Net income**<br>21,026<br>31,504<br>104,382<br>6,844<br>Transfers between funds<br>-<br>15,222<br>(15,222)<br>-<br>**Net movement in funds**<br>21,026<br>46,726<br>89,160<br>6,844<br>**Reconciliation of funds:**<br>Fund balances at 1 January 2023<br>192,860<br>-<br>124,591<br>62,539<br>**Fund balances at 31 December**<br>**2023**<br>213,886<br>46,726<br>213,751<br>69,383|**Total**<br>**2023**<br>**£**<br>387,638<br>19,264<br>200<br>54,081<br>4,676<br>465,859<br>164<br>307,142<br>307,306<br>5,203<br>163,756<br>-<br>163,756<br>379,990<br>543,746|**Total**<br>**2022**<br>**£**<br>328,636<br>15,354<br>44<br>66,353<br>4,676<br>415,063<br>45<br>279,531<br>279,576<br>(7,278)<br>128,209<br>-<br>128,209<br>251,781<br>379,990|
|---|---|---|



The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 

- 9 - 



## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)** 

## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 

|**Prior financial year**<br>**Unrestricted**<br>**Restricted**<br>**Endowment**<br>**funds**<br>**funds**<br>**funds**<br>**2022**<br>**2022**<br>**2022**<br>**Notes**<br>**£**<br>**£**<br>**£**<br>**Income and endowments from:**<br>Donations and legacies<br>**3**<br>176,966<br>151,670<br>-<br>Charitable activities<br>**4**<br>15,354<br>-<br>-<br>Other trading activities<br>**5**<br>44<br>-<br>-<br>Investments<br>**6**<br>64,721<br>-<br>1,632<br>Other income<br>**7**<br>4,676<br>-<br>-<br>Total income and endowments<br>261,761<br>151,670<br>1,632<br>**Expenditure on:**<br>Raising funds<br>**8**<br>45<br>-<br>-<br>Charitable activities<br>**9**<br>225,631<br>53,754<br>146<br>**Total expenditure**<br>225,676<br>53,754<br>146<br>Net losses on investments<br>**14**<br>-<br>-<br>(7,278)<br>**Net income/(expenditure) and movement in funds**<br>36,085<br>97,916<br>(5,792)<br>**Reconciliation of funds:**<br>Fund balances at 1 January 2022<br>156,775<br>26,675<br>68,331<br>**Fund balances at 31 December 2022**<br>192,860<br>124,591<br>62,539|**Total**<br>**2022**<br>**£**<br>328,636<br>15,354<br>44<br>66,353<br>4,676<br>415,063<br>45<br>279,531<br>279,576<br>(7,278)<br>128,209<br>251,781<br>379,990|
|---|---|



- 10 - 



THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF WALTON ON THAMES
BALANCE SHEET
AS AT31 DECEMBER 2023
2023
2022
Flx•d aB•ets
Tangible assets
Investments
289,356
60.026
221,862
54,823
17
349.382
276,685
Curr•nt •8•ots
Deblorn
Cash at bonk in hgnd
41,915
182.192
57,718
132,180
224.107
189,898
Cv•dltoY•: •moynts falllng du• t*Athln
on• y￿1
29,743
86.593
N¥1 curTonl 8898ts
194,364
103,305
Total •••ots l•M curr•nt Il•bllltl••
543,746
379,990
Th• fvnd• of th• P•rochlal ChU￿tt Goun¢ll
Endowment fund8
Restricted irscome fvnd
Unr*slri¢ted fvnd$- gen•ral
Unreslricted funds- d•signal•d
20
22
89,383
213,751
213,886
46,726
82.539
124,591
192.880
21
543,748
379,990
The financ481 st4tsmen18 were apprO￿d by tho Paro¢hi81 Churth Council on .
Revd J Bloir (M¢•rl
Tru•t
11

**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **NOTES TO THE  FINANCIAL STATEMENTS** 

## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 

## **1 Accounting policies** 

## **Charity information** 

The Parochial Church Council of the Ecclesiastical Parish of Walton on Thames is a charity established by the Parochial Church Councils (Powers) Measure 1956 as amended and the Church Representation Rules (contained in Schedule 3 to the Synodical Government Measure 1969 as amended). 

## **1.1 Accounting convention** 

The financial statements have been prepared in accordance with the Parochial Church Council's governing document,  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 applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The Parochial Church Council is a Public Benefit Entity as defined by FRS 102. 

The Parochial Church Council has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. 

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. 

The financial statements are prepared in sterling, which is the functional currency of the Parochial Church Council. Monetary amounts in these financial statements are rounded to the nearest £. 

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 

## **1.2 Going concern** 

At the time of approving the financial statements, the Parochial Church Council have a reasonable expectation that the Parochial Church Council has adequate resources to continue in operational existence for the foreseeable future. Thus the Parochial Church Council continue to adopt the going concern basis of accounting in preparing the financial statements. 

## **1.3 Charitable funds** 

Unrestricted funds are available for use at the discretion of the Parochial Church Council in furtherance of their charitable objectives. 

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Parochial Church Council. 

## **1.4 Income** 

Income is recognised when the Parochial Church Council is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. 

Cash donations are recognised on receipt. Other donations are recognised once the Parochial Church Council has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 

- 12 - 



**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 

## **1 Accounting policies** 

## **(Continued)** 

## **1.5 Expenditure** 

A liability is recognised when either a constructive or legal obligation is identified. Irrecoverable VAT is allocated to the same expenditure heading as the cost to which it relates. 

## **1.6 Tangible fixed assets** 

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. 

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: 

Land and buildings Impairment review Leasehold improvements 20% Straight Line Fixtures, fittings & equipment 25% and 20% Straight Line 

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 

## **1.7 Fixed asset investments** 

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date.  Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. 

## **1.8 Impairment of fixed assets** 

At each reporting end date, the Parochial Church Council reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 

## **1.9 Cash and cash equivalents** 

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 

## **1.10 Financial instruments** 

The Parochial Church Council has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. 

Financial instruments are recognised in the Parochial Church Council's balance sheet when the Parochial Church Council becomes party to the contractual provisions of the instrument. 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 

- 13 - 



**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** 

## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 

## **1 Accounting policies** 

## **(Continued)** 

## _**Basic financial assets**_ 

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 

## _**Basic financial liabilities**_ 

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. 

## _**Derecognition of financial liabilities**_ 

Financial liabilities are derecognised when the Parochial Church Council’s contractual obligations expire or are discharged or cancelled. 

## **1.11 Employee benefits** 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. 

Termination benefits are recognised immediately as an expense when the Parochial Church Council is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 

## **1.12 Retirement benefits** 

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 

## **2 Critical accounting estimates and judgements** 

In the application of the Parochial Church Council’s accounting policies, the Parochial Church Council are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 

- 14 - 



## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 

## **3 Income from donations and legacies** 

|**Unrestricted Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**funds**<br>**general designated**<br>**2023**<br>**2023**<br>**2023**<br>**£**<br>**£**<br>**£**<br>Donations and gifts<br>167,948<br>31,516<br>-<br>Grants<br>-<br>-<br>188,174<br>167,948<br>31,516<br>188,174<br>**Donations and gifts**<br>Giving<br>167,914<br>31,516<br>-<br>Special Collections<br>34<br>-<br>-<br>167,948<br>31,516<br>-<br>**Grants receivable for core activities**<br>Church Fund Trust<br>-<br>-<br>46,710<br>Community Foundation Surrey<br>-<br>-<br>-<br>Surrey County Council<br>-<br>-<br>6,550<br>Elmbridge Borough Council<br>-<br>-<br>96,914<br>Bishop of Guildford<br>-<br>-<br>3,000<br>PA Housing<br>-<br>-<br>10,000<br>National Lottery<br>-<br>-<br>10,000<br>Walton Charity<br>-<br>-<br>15,000<br>-<br>-<br>188,174|**Total**<br>**Unrestricted Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**funds**<br>**general designated**<br>**2023**<br>**2022**<br>**2022**<br>**2022**<br>**£**<br>**£**<br>**£**<br>**£**<br>199,464<br>176,966<br>-<br>8,103<br>188,174<br>-<br>-<br>143,567<br>387,638<br>176,966<br>-<br>151,670<br>199,430<br>176,240<br>-<br>8,103<br>34<br>726<br>-<br>-<br>199,464<br>176,966<br>-<br>8,103<br>46,710<br>-<br>-<br>40,431<br>-<br>-<br>-<br>5,000<br>6,550<br>-<br>-<br>8,271<br>96,914<br>-<br>-<br>89,865<br>3,000<br>-<br>-<br>-<br>10,000<br>-<br>-<br>-<br>10,000<br>-<br>-<br>-<br>15,000<br>-<br>-<br>-<br>188,174<br>-<br>-<br>143,567|**Total**<br>**2022**<br>**£**<br>185,069<br>143,567|
|---|---|---|
|||328,636|
|||184,343<br>726|
|||185,069|
|||40,431<br>5,000<br>8,271<br>89,865<br>-<br>-<br>-<br>-|
|||143,567|



- 15 - 



## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 

## **4 Charitable activities** 

|Fees and charges receivable<br>Other income|**2023**<br>**£**<br>14,107<br>5,157<br>19,264|**2022**<br>**£**<br>12,332<br>3,022|
|---|---|---|
|||15,354|



## **5 Income from other trading activities** 

||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2023**|**2022**|
||**£**|**£**|
|Fundraising events|200|44|



## **6 Income from investments** 

|**Unrestricted Endowment**<br>**funds**<br>**funds**<br>**2023**<br>**2023**<br>**£**<br>**£**<br>Rental income<br>51,716<br>-<br>Income from unlisted<br>investments<br>-<br>1,641<br>Interest receivable<br>724<br>-<br>52,440<br>1,641|**Total**<br>**Unrestricted Endowment**<br>**funds**<br>**funds**<br>**2023**<br>**2022**<br>**2022**<br>**£**<br>**£**<br>**£**<br>51,716<br>64,653<br>-<br>1,641<br>-<br>1,632<br>724<br>68<br>-<br>54,081<br>64,721<br>1,632|**Total**<br>**2022**<br>**£**<br>64,653<br>1,632<br>68|
|---|---|---|
|||66,353|



## **7 Other income** 

Common Platt 

|**Unrestricted**|**Unrestricted**|
|---|---|
|**funds**|**funds**|
|**2023**|**2022**|
|**£**|**£**|
|4,676|4,676|



- 16 - 



## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 

## **8 Expenditure on raising funds** 

||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2023**|**2022**|
||**£**|**£**|
|**Fundraising and publicity**|||
|Other fundraising costs|164|45|



- 17 - 



## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 

## **9 Charitable activities** 

|Staff costs<br>Depreciation and impairment<br>Parish Share<br>Fees for services<br>Ministry Expenses and Courses<br>Outreach<br>Youth and Education<br>Organist, Choirs and Music<br>Church Facilities<br>Administrative costs<br>Clergy Houses<br>Property maintenance<br>Worship<br>Loan interest to Diocese<br>Other Costs<br>Grant funding of activities (see note 10)<br>Share of support costs (see note 11)<br>Share of governance costs (see note 11)|**Church**<br>**Running and**<br>**Maintenance**<br>**Hall Running**<br>**and**<br>**Maintenance**<br>**2023**<br>**2023**<br>**2023**<br>**£**<br>**£**<br>**£**<br>37,976<br>7,307<br>-<br>-<br>24,081<br>-<br>119,622<br>-<br>-<br>7,959<br>-<br>-<br>-<br>-<br>-<br>879<br>-<br>-<br>2,237<br>-<br>-<br>1,848<br>-<br>-<br>-<br>1,044<br>-<br>4,442<br>-<br>-<br>-<br>1,153<br>-<br>-<br>39,027<br>17,675<br>1,544<br>-<br>-<br>-<br>5,436<br>-<br>6,737<br>69<br>-<br>183,244<br>78,117<br>17,675<br>13,910<br>-<br>-<br>12,588<br>-<br>-<br>1,608<br>-<br>-<br>211,350<br>78,117<br>17,675|**Total**<br>**2023**<br>**£**<br>45,283<br>24,081<br>119,622<br>7,959<br>-<br>879<br>2,237<br>1,848<br>1,044<br>4,442<br>1,153<br>56,702<br>1,544<br>5,436<br>6,806<br>279,036<br>13,910<br>12,588<br>1,608<br>307,142|**Church**<br>**Running and**<br>**Maintenance**<br>**Hall Running**<br>**and**<br>**Maintenance**<br>**2022**<br>**2022**<br>**2022**<br>**£**<br>**£**<br>**£**<br>33,354<br>6,923<br>-<br>-<br>4,736<br>-<br>120,009<br>-<br>-<br>7,192<br>-<br>-<br>146<br>-<br>-<br>1,201<br>-<br>-<br>3,070<br>-<br>-<br>1,571<br>-<br>-<br>-<br>255<br>-<br>4,446<br>-<br>-<br>-<br>511<br>-<br>-<br>39,969<br>14,554<br>2,374<br>-<br>-<br>-<br>4,162<br>-<br>6,883<br>-<br>-<br>180,246<br>56,556<br>14,554<br>12,331<br>-<br>-<br>14,339<br>-<br>-<br>1,505<br>-<br>-<br>208,421<br>56,556<br>14,554|**Total**<br>**2022**<br>**£**<br>40,277<br>4,736<br>120,009<br>7,192<br>146<br>1,201<br>3,070<br>1,571<br>255<br>4,446<br>511<br>54,523<br>2,374<br>4,162<br>6,883|
|---|---|---|---|---|
|||||251,356<br>12,331<br>14,339<br>1,505|
|||||279,531|



- 18 - 



## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 

|**9**<br>**Charitable activities**<br>**Analysis by fund**<br>Unrestricted funds - general<br>Unrestricted funds - Designated<br>Restricted funds<br>Endowment funds|192,464<br>12<br>18,874<br>-<br>211,350|13,199<br>-<br>64,918<br>-<br>78,117|17,675<br>-<br>-<br>-<br>17,675|223,338<br>12<br>83,792<br>-<br>307,142|197,061<br>-<br>11,214<br>146<br>208,421|14,016<br>-<br>42,540<br>-<br>56,556|**(Continued)**<br>14,554<br>225,631<br>-<br>-<br>-<br>53,754<br>-<br>146<br>14,554<br>279,531|**(Continued)**<br>14,554<br>225,631<br>-<br>-<br>-<br>53,754<br>-<br>146<br>14,554<br>279,531|
|---|---|---|---|---|---|---|---|---|
|||||||||279,531|



- 19 - 



## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 

## **10 Grants payable** 

|Mission giving<br>**Support costs allocated to activities**<br>Staff costs<br>Treasurer and secretary administration costs<br>Governance costs<br>**Analysed between:**<br>Charitable Activities|**2023**<br>**£**<br>13,910<br>**2023**<br>**£**<br>12,385<br>203<br>1,608<br>14,196<br>14,196|2022<br>£<br>12,331|
|---|---|---|
|||**2022**<br>**£**<br>14,211<br>128<br>1,505|
|||15,844|
|||15,844|



## **11 Support costs allocated to activities** 

## **12 Parochial Church Council** 

No members (2022: one) of the Parochial Church Council received remuneration during the year. S Eckes was an employee of the PCC receiving remuneration, including employer pension contributions, of £Nil for her role (2022: £4,982). Charity Commission approval was obtained, as required, in order to enable the Parochial Church Council to employ a member of the Council. No members of the PCC receive remuneration for their role as a member of the PCC. 

In 2023, nil (2022: nil) members of the PCC were reimbursed a total of £nil (2022 - £nil) for expenditure in furtherance of the charitable objectives. 

## **13 Employees** 

The average monthly number employees during the year was: 

||**2023**|**2022**|
|---|---|---|
||**Number**|**Number**|
|Administrator|3|3|
|Verger|1|1|
|Minister|1|1|
|Total|5|5|



- 20 - 



## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 

|**13**<br>**Employees**<br>**Employment costs**<br>Wages and salaries<br>Other pension costs|**(Continued)**<br>**2023**<br>**2022**<br>**£**<br>**£**<br>55,716<br>55,124<br>1,952<br>723<br>57,668<br>55,847|**(Continued)**<br>**2023**<br>**2022**<br>**£**<br>**£**<br>55,716<br>55,124<br>1,952<br>723<br>57,668<br>55,847|
|---|---|---|
|||55,847|



The staff comprised of five employees, one of whom left in the year. There were three part time and one full time staff. Full time equivalent staff 3 (2022: 4.5) 

There were no employees whose annual remuneration was more than £60,000. 

## **Remuneration of key management personnel** 

The remuneration of key management personnel is as follows. 

## **14 Gains and losses on investments** 

||**Endowment**|**Endowment**|
|---|---|---|
||**funds**|**funds**|
||**2023**|**2022**|
|Gains/(losses) arising on:|**£**|**£**|
|Revaluation of investments|5,203|(7,278)|



## **15 Taxation** 

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 

- 21 - 



## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 

|**16**<br>**Tangible fixed assets**<br>**Cost**<br>At 1 January 2023<br>Additions<br>At 31 December 2023<br>**Depreciation and impairment**<br>At 1 January 2023<br>Depreciation charged in the year<br>At 31 December 2023<br>**Carrying amount**<br>At 31 December 2023<br>At 31 December 2022<br>**17**<br>**Fixed asset investments**<br>**Cost or valuation**<br>At 1 January 2023<br>At 31 December 2023<br>**Carrying amount**<br>At 31 December 2023<br>At 31 December 2022<br>**18**<br>**Debtors**<br>**Amounts falling due within one year:**<br>Other debtors<br>Prepayments and accrued income|**Land and**<br>**buildings**<br>**Leasehold**<br>**improvements**<br>**£**<br>**£**<br>127,961<br>91,365<br>-<br>91,575<br>127,961<br>182,940<br>-<br>4,493<br>-<br>24,081<br>-<br>28,574<br>127,961<br>154,366<br>127,961<br>86,872|**Fixtures,**<br>**fittings &**<br>**equipment**<br>**Total**<br>**£**<br>**£**<br>81,709<br>301,035<br>-<br>91,575<br>81,709<br>392,610<br>74,680<br>79,173<br>-<br>24,081<br>74,680<br>103,254<br>7,029<br>289,356<br>7,029<br>221,862<br>**Unlisted**<br>**investments**<br>**£**<br>54,823<br>5,203<br>60,026<br>60,026<br>54,823<br>**2023**<br>**2022**<br>**£**<br>**£**<br>5,058<br>15,810<br>36,857<br>41,908<br>41,915<br>57,718|
|---|---|---|



- 22 - 



## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 

## **19 Creditors: amounts falling due within one year** 

|**Creditors: amounts falling due within one year**|||
|---|---|---|
|Other taxation and social security<br>Other creditors|**2023**<br>**£**<br>-<br>29,743<br>29,743|**2022**<br>**£**<br>300<br>86,293|
|||86,593|



## **20 Endowment funds** 

Endowment funds represent assets which must be held permanently by the Parochial Church Council. Income arising on the endowment funds can be used in accordance with the objects of the Parochial Church Council and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund. 

||**At**|**1 January**|**Incoming**|**Resources**|**Gains and**|**At 31**|
|---|---|---|---|---|---|---|
|||**2023**|**resources**|**expended**|**losses**|**December**|
|||||||**2023**|
|||**£**|**£**|**£**|**£**|**£**|
|**Permanent endowments**|||||||
|David Smith Ministry Fund||62,539|1,641|-|5,203|69,383|
|**Previous year:**|**At**|**1 January**|**Incoming**|**Resources**|**Gains and**|**At 31**|
|||**2022**|**resources**|**expended**|**losses**|**December**|
|||||||**2022**|
|||**£**|**£**|**£**|**£**|**£**|
|**Permanent endowments**|||||||
|David Smith Ministry Fund||68,331|1,632|(146)|(7,278)|62,539|



## The David Smith Ministry Fund 

This is a restricted endowment fund; the capital cannot be touched and the income (dividends) can be used only to support the ministry of assistant clergy and other licensed assistant ministers. 

Any shortfall in Ministry training costs versus the income generated by the fund is paid from the General Fund. 

- 23 - 



## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 

## **21 Unrestricted funds - designated** 

These are unrestricted funds which are material to the Parochial Church Council's activities. 

||**At**|**1**|**January**|**Incoming**|**Resources**|**Transfers**|**At 31**|
|---|---|---|---|---|---|---|---|
||||**2023**|**resources**|**expended**||**December**|
||||||||**2023**|
||||**£**|**£**|**£**|**£**|**£**|
|Families, Children and Youth|||-|31,516|(12)|15,222|46,726|



## **22 Restricted funds** 

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. 

|**At 1**<br>Bells Restoration Fund<br>Church Fund Trust Fund<br>Under Fives Minister<br>Special Donations Fund<br>Youth Work<br>Children and Families<br>Capital Projects<br>Community Development<br>**Previous year:**<br>**At 1**<br>Bells Restoration Fund<br>Church Fund Trust Fund<br>Under Fives Minister<br>Special Donations Fund<br>Youth Work<br>Children and Families<br>Capital Projects<br>Community Development|**January**<br>**2023**<br>**Incoming**<br>**resources**<br>**Resources**<br>**expended**<br>**Transfers**<br>**At 31**<br>**December**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>1,863<br>-<br>-<br>-<br>1,863<br>4,665<br>46,710<br>(42,849)<br>-<br>8,526<br>9,256<br>-<br>-<br>(9,256)<br>-<br>2,825<br>-<br>-<br>-<br>2,825<br>2,281<br>-<br>(2,281)<br>-<br>-<br>5,966<br>-<br>-<br>(5,966)<br>-<br>92,735<br>103,464<br>(24,081)<br>-<br>172,118<br>5,000<br>38,000<br>(14,581)<br>-<br>28,419<br>124,591<br>188,174<br>(83,792)<br>(15,222)<br>213,751<br>**January**<br>**2022**<br>**Incoming**<br>**resources**<br>**Resources**<br>**expended**<br>**Transfers**<br>**At 31**<br>**December**<br>**2022**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>1,863<br>-<br>-<br>-<br>1,863<br>2,944<br>40,431<br>(38,710)<br>-<br>4,665<br>9,148<br>607<br>(499)<br>-<br>9,256<br>2,825<br>-<br>-<br>-<br>2,825<br>9,895<br>1,530<br>(9,144)<br>-<br>2,281<br>-<br>5,966<br>-<br>-<br>5,966<br>-<br>98,136<br>(5,401)<br>-<br>92,735<br>-<br>5,000<br>-<br>-<br>5,000<br>26,675<br>151,670<br>(53,754)<br>-<br>124,591|
|---|---|



- 24 - 



**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 

## **22 Restricted funds** 

## **(Continued)** 

## Bells Fund 

This is a restricted fund opened in 2009 for the repair and replacement work relating to the Bells and Bell Tower. 

## Church Fund Trust Monies 

The Trust recompenses the PCC for any expenditure that is agreed to fall within the categories covered by the Trust's deeds. All income and expenditure is treated as restricted and reported as such in the Statement of Financial Activities. 

## Special Fund 

A restricted fund into which special collections are paid and from which they are disbursed to the designated recipients. 

## Under Fives Minister 

This fund was established from a campaign to raise money to finance a new position of this minister. Following the year end the Trustees approved a resolution to seek permission from the Charity Commission to reconstitute these funds towards the work with Children and Families. 

## Capital Projects 

Grant funding received for capital purchases and works to buildings. 

## Youth Work 

A campaign to raise funds for the Parish’s development of ministry to youth was launched in the year. 

## Community Development 

Grant funding received for expanding the Parish’s work in, and support of, the local community. 

## Children and Families 

A fundraising campaign was undertaken in the year to raise funds to develop a role and services to the children and families in the Parish. 

## **23 Unrestricted funds** 

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These do not include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. 

|**At 1**<br>General funds<br>**Previous year:**<br>**At 1**<br>General funds|**January**<br>**2023**<br>**Incoming**<br>**resources**<br>**Resources**<br>**expended**<br>**At 31**<br>**December**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**£**<br>192,860<br>244,528<br>(223,502)<br>213,886<br>**January**<br>**2022**<br>**Incoming**<br>**resources**<br>**Resources**<br>**expended**<br>**At 31**<br>**December**<br>**2022**<br>**£**<br>**£**<br>**£**<br>**£**<br>156,775<br>261,761<br>(225,676)<br>192,860|
|---|---|



- 25 - 



**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALTON ON THAMES** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 

## **24 Analysis of net assets between funds** 

|**Unrestricted**<br>**Unrestricted**<br>**Restricted**<br>**Endowment**<br>**funds**<br>**funds**<br>**funds**<br>**funds**<br>**general**<br>**Designated**<br>**2023**<br>**2023**<br>**2023**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**£**<br>**Fund balances at 31 December 2023 are**<br>**represented by:**<br>Tangible assets<br>129,386<br>-<br>159,970<br>-<br>Investments<br>-<br>-<br>-<br>60,026<br>Current assets/(liabilities)<br>84,500<br>46,726<br>53,781<br>9,357<br>213,886<br>46,726<br>213,751<br>69,383<br>**Unrestricted**<br>**Unrestricted**<br>**Restricted**<br>**Endowment**<br>**funds**<br>**funds**<br>**funds**<br>**funds**<br>**general**<br>**Designated**<br>**2022**<br>**2022**<br>**2022**<br>**2022**<br>**£**<br>**£**<br>**£**<br>**£**<br>**Fund balances at 31 December 2022 are**<br>**represented by:**<br>Tangible assets<br>129,462<br>-<br>92,400<br>-<br>Investments<br>-<br>-<br>-<br>54,823<br>Current assets/(liabilities)<br>63,398<br>-<br>32,191<br>7,716<br>192,860<br>-<br>124,591<br>62,539|**Total**<br>**2023**<br>**£**<br>289,356<br>60,026<br>194,364|
|---|---|
||543,746|
||**Total**<br>**2022**<br>**£**<br>221,862<br>54,823<br>103,305|
||379,990|



## **25 Related party transactions** 

During the year, the following related party transaction occurred in addition to trustee transactions detailed on note 12. 

The charity shares one trustee with The Church Fund. In 2023, the charity received income from The Church Fund of £46,710. 

- 26 -