The Parish Church of St Edmund King and Martyr . Mansfield Woodhouse
Report and Financial Statements
for the year ended 31 December 2022
The Parish Church of St Edmund King and Martyr
Financial Statements for the year ended 31 December 2022
Page
| 1-3 | Trustees’ report |
|---|---|
| 4 | Independent Examiners’ report |
| 5 | Statement of financial activities |
| 6 | Statement of financial position |
| 7-13 | Notestothefinancialstatements |
The Parish Church of St Edmund King and Martyr
Trustees’ Annual Report
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2022.
Reference and administrative details
Registered charity name The Parochial Church Council of the Ecclesiastical Parish of St Edmunds Mansfield Woodhouse Charity registration number 1128607 The Housley, Gethin, Chapman and Clay Pit Charity; Charity Number:1107036 is also included within the activities of the PCC The Trust for Ecclesiastical Purposes is also included within the activities of the PCC Principal office Parish Office 1 Welbeck Road Mansfield Woodhouse Nottinghamshire NG19 9JY
Trustees
The Trustees of the Charity are members of the Parochial Church Council. During the year the following served:
| Kathleen Miller | Churchwarden, Deanery Synod | Gerald Houldsworth | PCC 2023 |
|---|---|---|---|
| Kate Colclough | Reader | Irene Garratt | PCC 2023 |
| AndrewShaw | Reader | Bill Blagg | PCC 2023 |
| Will Betts | Treasurer Co-opted | David Colclough | PCC 2024 |
| Bernard Ory | Trustee Secretary. PCC 2022 | Wendy Skelton | PCC 2024 |
| Danielle Greaves | Deanery Synod (to April 2022) | Audrey Barnes | |
| Carolyn Long | Deanery Synod | Maud Jarvis | PCC 2025 |
| RuthGreaves | PCC2022 | TessaHurst | PCC2025 |
| Independent | Examiner | MCABA Limited t/a Mitchells, Chartered Accountants and Registered Auditors |
|---|---|---|
| 91-97 Saltergate | ||
| Chesterfield | ||
| Derbyshire | ||
| S40 1LA | ||
| Bankers | National Westminster Bank | |
| 9 Church Street | ||
| Mansfield | ||
| Nottinghamshire | ||
| NG181HP |
Page |
The Parish Church of St Edmund King and Martyr
Trustees’ Annual Report
Structure, governance and management
The Charity is governed by the Parochial Church Council Powers Measure (1956) as amended and Church Representation Rules.
Elected members normally serve a period of three years and may immediately be re-elected for a further term of three years.
The Housley Gethin, Chapman and Clay Pit Charities were consolidated into a single charity by the Charity Commission on 15 November 2004. The original charities arose out of assets which were willed to St Edmund's Church for specific reasons again broadly covered by the same objects of the PCC charity. The Trustees of this charity were originally the Vicar and Church Wardens of the PCC, but in 2004 this was changed and members of the PCC, whether elected or otherwise, are by virtue of that office, Trustees of the Consolidated Trust Funds.
From a governance point of view, the Consolidated Trust Fund Trustees hold separate meetings as and when required with an AGM in February each year.
Objectives and activities
The objectives of the Charity are the advancement of the religious and other charitable work of The Church of England in the Ecclesiastical Parish of St Edmund King and Martyr, Mansfield Woodhouse, and are achieved by the various activities referred to below.
Volunteers
The charity is grateful for the unstinting efforts of all its volunteers who are involved in any service including the provision of charity shop, social committees and fund-raising and the Foodbank operating from the Stable Centre and other locations. The Trustees particularly wish to thank all those involved in the rebuilding of activities following the disruption caused by the Covid Pandemic and its associated restrictions, without whom, some may have been lost altogether.
Public Benefit
The trustees confirm that they have complied with the requirement in the Charities Act 2011 with regard to Public Benefit.
Safeguarding
The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have regard to House of Bishops’ guidance on safeguarding children and vulnerable adults). The Church of England safeguarding policy was re-adopted in November when a new Safeguarding Officer was appointed. Up-to-date safeguarding posters are on display.
Financial review
The broader financial picture shows that whilst some areas are thriving others are taking longer to recover.
Whilst the early lifting of Covid Restrictions in 2022 renewed use of the Turner Hall, some of the regulars did not return immediately as expected due to people monitoring current rates of infection and lower levels of attendance from their groups. Some were not happy to restart until warmer weather allowed open doors. Overall however, it was possible to retain some regular bookings and the hall is now benefiting from increased one off bookings.
In the meantime, the toilet renewal project went ahead in the spring and was completed at a cost of £51,127.00 funded by the sale of Trust Fund Shares. The Turner Hall Kitchen was also refurbished at a cost of £4,500.00 met from previously identified funds.
The cottage 1A Welbeck Road renovation took longer to complete than expected but a new tenant was finally installed in October. However, this has resulted in the need for further unexpected remedial works which are presently being programmed. Unlike 122 Vale Road, this property is now being operated through a Management Agent.
The Partnershop Charity Shop has shown a steady improvement in trading during the year and has this year managed to achieve a trading profit on its normal day to day activities. An unexpected donation of £10,000.00 was given to the Charity Shop with a request that it be directed primarily to some predetermined causes. To date some 50% of these funds have been reallocated to deserving causes.
Page 2
The Parish Church of St Edmund King and Martyr
Trustees’ Annual Report
From the attached accounts it will be seen that the Foodbank has continued to operate well during 2022. The support from the community and local businesses and agencies has helped greatly for it to be in a healthy position. One of the main expenses is buying stock and this continues to be an issue, particularly in view of the vast increase of users during 2022. The totals of food parcels provided increased from 1,649 in 2021 to 2,229 in 2022, an increase of 580. This in real terms represents an increase in people fed which is up from 3,734 in 2021 up to 5,086 in 2022, an increase of 1,352 people. The Foodbank is operated entirely by volunteers and the question of the Foodbank obtaining its own charitable status is still being investigated but progress is slow and difficult to achieve.
Notwithstanding a reduction in Planned Giving and other church giving the PCC have still been able to achieve full payment of its quota of £55,000.00. However, the PCC are of the opinion that the time is not opportune for a fundraising campaign.
There was very little activity in other small restricted funds.
Reserves
The accumulated surplus of unrestricted funds continues to be held for further anticipated calls on the resources of the Charity both generally and in respect of the maintenance of the Church and its historical contents.
In addition to the sale of Shares to fund the Turner Hall Toilets Scheme a further sum of £90,000 was withdrawn from Trust Funds to ensure that all other financial commitments were able to be met. The ongoing dependence on Trust Funds is on an upward trend and will need to be reviewed again with a view to ensuring that the availability of this income stream is not completely exhausted or depleted to the point where its benefits become virtually insignificant. This is a somewhat difficult balancing act between perceived present and future needs.
Summary of main achievements
The resumption of normal church services has been possible, albeit with some modifications to the Holy Communion Service delivery, notwithstanding the continuing presence of Covid in the wider community. In addition some zoom services have been continued.
Unfortunately, the Parish of St. Edmund’s are still without a Vicar and service provision has continued to rely heavily on retired clergy who it’s fair to say have been well supported by the Church Warden and Readers who have been constantly called on to officiate with funeral services.
The financial review has shown a concentrated programme of renovation work in various areas of the Charity which has highlighted the continued need for careful financial programming in the future.
Approved by the Board of Trustees on JS..44.. AGAS........ and signed on their behalf by
K A Miller : Churchwarden
Page 3
Independent Examiners’ Report to the Trustees of
The Parish Church of St Edmund King and Martyr
| report to the charity trustees on my examination of the accounts of the charity for the year ended 31st December 2022, which are set out on pages 5 to 13.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the Act).
| report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination | have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiners’ statement
Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. | confirm that | am qualified to undertake the examination because | am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
| have completed my examination. | 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 charity as required by section 130 of the Act; or 2 the accounts do not accord with those records; or
-
3 the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts givea ‘true and fair view' which is not a matter considered as part of an independent examination.
| 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.
T G Leeman BA FCA
MCABA Limited t/a Mitchells,
Chartered Accountants and Registered Auditors 91-97 Saltergate Chesterfield
Derbyshire S40 1LA Date: he Apex A Ah
Page 4
The Parish Church of St Edmund King and Martyr
Statement of Financial Activities
for the year ended 31 December 2022
| Note | 2022 | 2022 | 2022 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | Total | ||
| Funds | Funds | Funds | ||||
| £ | £ | £ | £ | £ | ||
| Incoming resources | ||||||
| Incoming resources from generated funds | 2a | 35,717 | 13 | - | 35,730 | 39,680 |
| Voluntary income | 2b | 2,152 | 136,178 | - | 138,330 | 90,692 |
| Incoming resources from charitable activities | 2c | 52,462 | - | - | 52,462 | 40,579 |
| Activities for generating funds | 2d | 57,030 | 51,960 | - | 108,990 | 45,120 |
| Investment and other income | 2e | 85 | 85,935 | 81 | 86,101 | 50,604 |
| Total incoming resources | 147,446 | 274,086 | 81 | 421,613 | 266,675 | |
| Resources expended | ||||||
| Grants | 3a | 364 | 19,768 | - | 20,132 | 6,449 |
| Activities directly related to the work of | ||||||
| the Church | 3b | 259,938 | 143,574 | - | 403,512 | 266,635 |
| Church management and administration | 3c | 11,400 | 488 | - | 11,888 | 9,402 |
| Total resources expenses | 271,702 | 163,830 | - | 435,532 | 282,486 | |
| Net incoming (outgoing) resources | (124,256) | 110,256 | 81 | (13,919) | (15,811) | |
| before transfers | ||||||
| Transfer between funds | 137,683 | (131,683) | (6,000) | - | e | |
| Net incoming (outgoing) resources before | 13,427 | (21,427) | (5,919) | (13,919) | (15,811) | |
| other recognised gains and losses | ||||||
| Gains and losses on tangible fixed assets | ||||||
| on disposal | - | - | - | - | (410) | |
| Gains and losses on investments | ||||||
| on revaluation and disposal | 1 | (217,622) | (948) | (218,569) | 193,660 | |
| Net movement in funds | 13,428 | (239,049) | (6,867) | (232,488) | 177,439 | |
| Fund balances b/f at 1 January 2022 | 186,900 | 1,632,776 | 16,208 | 1,835,884 | 1,658,445 | |
| Fundbalancesc/fat31December2022 | 200,328 | 1,393,727 | 9,341 | 1,603,396 | 1,835,884 |
The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 13 form part of these financial statements
Page 5
The Parish Church of St Edmund King and Martyr
Statement of Financial Position as at 31 December 2022
| Note | 2022 | 2022 | 2022 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | Total | ||
| Funds | Funds | Funds | ||||
| £ | £ | £ | £ | £ | ||
| Fixed Assets | ||||||
| Tangible fixed assets | 6 | 9,468 | 12,922 | - | 22,390 | 11,010 |
| Investment property | 7 | 90,000 | - | - | 90,000 | 90,000 |
| Investments | 7a | - | 1,241,766 | 7,108 | 1,248,874 | 1,467,443 |
| 99,468 | 1,254,688 | 7,108 | 1,361,264 | 1,568,453 | ||
| Current Assets | ||||||
| Stock | 400 | 5,874 | - | 6,274 | 9,073 | |
| Debtors | 8 | 7,008 | 4,050 | - | 11,058 | 7,488 |
| Investments | 7b | 206 | - | - | 206 | 205 |
| Cash at bank and in hand | 9 | 97,251 | 129,115 | 2,233 | 228,599 | 254,907 |
| 104,865 | 139,039 | 2,233 | 246,137 | 271,673 | ||
| Creditors: amounts falling duewithin | ||||||
| one year | 10 | 4,005 | - | - | 4,005 | 4,242 |
| Net Current Assets | 100,860 | 139,039 | 2,233 | 242,132 | 267,431 | |
| Net Assets | 200,328 | 1,393,727 | 9,341 | 1,603,396 | 1,835,884 | |
| Represented by: | ||||||
| Funds | ||||||
| Unrestricted funds | 200,328 | - | - | 200,328 | 186,900 | |
| Restricted funds | 11 | - | 1,393,727 | - | 1,393,727 | 1,632,776 |
| Endowment funds | - | - | 9,341 | 9,341 | 16,208 | |
| 200,328 | 1,393,727 | 9,341 | 1,603,396 | 1,835,884 |
The trustees are satisfied that the charity is exempt from audit and:
i) are satisfied that the charity was entitled to the exemption and no trustee has requested an audit, and ii) acknowledge their responsibility for: accounting records, and preparing accounts which showa true and fair view.
Approved by the Board of Trustees on NB MALAO DD oooccssee and signed on their behalf by:
----- Start of picture text -----
K A Miller AMner
Churchwarden 4
----- End of picture text -----
----- Start of picture text -----
-
----- End of picture text -----
The notes on pages 7 to 13 form part of these financial statements
Page 6
The Parish Church of St Edmund King and Martyr
Notes to the Financial Statements for the year ended 31 December 2022
General information
The charity is a registered charity in England and Wales and is unincorporated. The address of the principal office is 1 Welbeck Road, Mansfield Woodhouse, Nottinghamshire.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the 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 (FRS102) (Charities SORP (FRS102)) and the Charities Act 2011.
The Parish Church of St Edmund King and Martyr meets the definition of a public benefit entity under FRS 102.
-
1 Accounting policies
-
a) Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
- b) Going concern
There are no material uncertainties about the charity's ability to continue.
- c) Incoming resources All incoming resources are included when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Voluntary income
Where goods and services are provided to the charity as a donation that would normally be purchased from suppliers, this contribution is included in the financial statements at a reasonable estimate of the fair value of the goods and services donated.
Goods donated and held as stock for distribution by the charity, including food items donated to foodbanks, are recognised as incoming resources within voluntary income.
Incoming resources from generated funds
Collections and sundry donations are recognised when received by the PCC
Incoming resources from charitable activities
Rental income is recognised in the period to which they relate. Fees are recognised when they are receivable by the PCC.
Activities for generating funds
Stable Centre and Partnershop income is accounted for when received.
Investment income
Investment income is accounted for when received.
- d) Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.
Page 7
The Parish Church of St Edmund King and Martyr
Notes to the Financial Statements for the year ended 31 December 2022
-
d) Resources expended continued .... Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
-
When distributed, donated goods are disclosed within resources expended in the Statement Of Financial Activates at their estimated fair value.
-
e) Tangible fixed assets Fixed assets are included at cost. Depreciation is provided to write off the cost, less residual values, of fixed assets, other than freehold property, over their expected useful economic lives at the following rates:
Fixtures, fittings and furnishings 15% reducing balance Motor vehicles 25% reducing balance
-
f) Investments Investments are stated at market value as at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. No depreciation is provided on the investment property.
-
g) Fund accounting Details of the nature and purpose of each fund is set out in note 11.
h) Government grants Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model.
- i) Stock
Stock of purchased goods is valued at the lower of cost and net realisable value.
- Stock of donated goods for distribution is valued at a reasonable estimate of the fair value of the goods donated.
j) Liability recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Page 8
The Parish Church of St Edmund King and Martyr
Notes to the Financial Statements
for the year ended 31 December 2022
| 2 | Incoming resources | 2022 | 2022 | 2022 | 2022 | 2021 | |
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | Total | |||
| Funds | Funds | Funds | |||||
| £ | £ | £ | £ | £ | |||
| 2a | _ | Incoming resourcesfrom generated funds | |||||
| Planned giving | 26,985 | - | - | 26,985 | 32,362 | ||
| Collections | 3,702 | - | - | 3,702 | 2,926 | ||
| Sundry donations | 5,030 | 13 | - | 5,043 | 4,392 | ||
| 35,717 | 13 | - | 35,730 | 39,680 | |||
| 2b | Voluntary income | ||||||
| Grants | - | 10,000 | 10,000 | - | |||
| Foodbank grants and donations | - | 125,963 | - | 125,963 | 89,584 | ||
| Other income | 2,152 | 215 | - | 2,367 | 1,108 | ||
| 2,152 | 136,178 | - | 138,330 | 90,692 | |||
| 2c_ | Incoming resources from charitable activities | ||||||
| Marriage, Funeral and Thanks Giving | 26,719 | - | - | 26,719 | 25,183 | ||
| fees received | |||||||
| Rental income from 122 Vale Road | 5,100 | - | - | 5,100 | 5,100 | ||
| Rental income from 1A Welbeck Road | 1,747 | 1,747 | - | ||||
| Church Hall | 18,896 | - | - | 18,896 | 10,296 | ||
| 52,462 | - | - | 52,462 | 40,579 | |||
| 2d_ | Activities for generating funds | ||||||
| Parish magazines | 576 | - | - | 576 | 387 | ||
| Stable Centre | 56,454 | - | - | 56,454 | 28,530 | ||
| Fund raising | - | 425 | - | 425 | 63 | ||
| Partnershop | - | 51,535 | - | 51,535 | 16,140 | ||
| 57,030 | 51,960 | - | 108,990 | 45,120 | |||
| 2e_ | Investment and other income | ||||||
| Investment income | 85 | 85,935 | 81 | 86,101 | 37,288 | ||
| Coronavirus support grants | - | - | - | - | 934 | ||
| Coronavirus job retention scheme grants | : | - | - | - | 12,382 | ||
| Insurance claim | - | - | - | - | - | ||
| 85 | 85,935 | 81 | 86,101 | 50,604 | |||
| Totalincomingresources | 147,446 | 274,086 | 81 | 421,613 | 266,675 |
Page 9
The Parish Church of St Edmund King and Martyr
Notes to the Financial Statements
for the year ended 31 December 2022
| 3 | Resources expended | 2022 | 2022 | 2022 | 2022 | 2021 | |
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | Total | |||
| Funds | Funds | Funds | |||||
| £ | £ | £ | £ | £ | |||
| 3a | Grants | ||||||
| Charities and donations | 364 | 19,768 | - | 20,132 | 6,449 | ||
| 364 | 19,768 | - | 20,132 | 6,449 | |||
| 3b | _ | Activities directly related to thework ofthe | Church | ||||
| Diocesan parish share paid and other activities | 58,700 | - | - | 58,700 | 46,369 | ||
| Clergy expenses | 1,070 | - | - | 1,070 | 504 | ||
| Rent, rates, insurance, light, heat and cleaning | 24,223 | 6,618 | - | 30,841 | 22,668 | ||
| Repairs | 77,772 | 8,453 | - | 86,225 | 21,877 | ||
| Salaries, wages and honoraria | 75,247 | 25,074 | - | 100,321 | 72,775 | ||
| Upkeep of services | 1,322 | - | - | 1,322 | 1,275 | ||
| Stock purchases | 17,737 | - | - | 17,737 | 9,976 | ||
| Stock donations | - | 92,070 | - | 92,070 | 83,790 | ||
| Storage costs | - | 3,220 | - | 3,220 | 2,784 | ||
| Travel costs | 257 | 3,828 | 4,085 | 1,397 | |||
| Sundries | 1,939 | 31 | - | 1,970 | 1,277 | ||
| Bad debts | - | - | - | - | - | ||
| Depreciation | 1,671 | 4,280 | : | 5,951 | 1,943 | ||
| 259,938 | 143,574 | - | 403,512 | 266,635 | |||
| 3c | Church management and administration | ||||||
| Telephone | 2,796 | 488 | - | 3,284 | 2,587 | ||
| Printing, stationery and subscriptions | 2,563 | - | - | 2,563 | 2,977 | ||
| Bank charges | 295 | - | - | 295 | 238 | ||
| Professional fees | 5,746 | - | - | 5,746 | 3,600 | ||
| 11,400 | 488 | - | 11,888 | 9,402 | |||
| Total resources expended | 271,702 | 163,830 | - | 435,532 | 282,486 | ||
| 4 | Staff costs | 2022 | 2021 | ||||
| Total | Total | ||||||
| £ | £ | ||||||
| Wages and salaries | 98,691 | 71,237 | |||||
| Social security costs | 1,630 | 1,445 | |||||
| Pension costs | - | 93 | |||||
| 100,321 | 72,775 |
| No individual employee earned over £60,000 in the year (2021: none). The average number of employees | No individual employee earned over £60,000 in the year (2021: none). The average number of employees | No individual employee earned over £60,000 in the year (2021: none). The average number of employees | during | |
|---|---|---|---|---|
| the yearwas 9 (2021: | 8). | |||
| 5 | Accountancy fees | 2022 | 2021 | |
| £ | £ | |||
| Accountancy and other services | 3,654 | 3,480 | ||
| 3,654 | 3,480 |
Page 10
The Parish Church of St Edmund King and Martyr
Notes to the Financial Statements
for the year ended 31 December 2022
| 6 | Tangible fixed assets | Fixtures, | Total | |||
|---|---|---|---|---|---|---|
| Motor | fittingsand | |||||
| Vehicles | furnishings | |||||
| £ | £ | |||||
| Cost or valuation | ||||||
| At 1 January 2022 | - | 79,767 | 79,767 | |||
| Additions | 17,000 | 331 | 17,331 | |||
| Disposals | - | - | ||||
| At 31 December 2022 | 17,000 | 80,098 | 97,098 | |||
| Depreciation | ||||||
| At 1 January 2022 | - | 68,757 | 68,757 | |||
| Charge for the year | 4,250 | 1,701 | 5,951 | |||
| On disposal | - | - | ||||
| At 31 December 2022 | 4,250 | 70,458 | 74,708 | |||
| Net book values | ||||||
| At 31 December 2022 | 12,750 | 9,640 | 22,390 | |||
| At 31 December 2021 | - | 11,010 | 11,010 | |||
| 7 | Fixed asset investment property | Investment | Total | |||
| property | ||||||
| £ | £ | |||||
| Cost or valuation | ||||||
| At 1 January 2022 | 90,000 | 90,000 | ||||
| Additions | = | = | ||||
| Disposals | - | - | ||||
| Revaluation | - | - | ||||
| At 31 December 2022 | 90,000 | 90,000 | ||||
| Depreciation | ||||||
| At 1 January 2022 | - | - | ||||
| Charge for the year | - | - | ||||
| On disposal | - | - | ||||
| At 31 December 2022 | - | - | ||||
| Net book values | ||||||
| At 31 December 2022 | 90,000 | 90,000 | ||||
| At 31 December 2021 | 90,000 | 90,000 | ||||
| The investment property has been valued by the trustees. This | valuation has been | based on similar | properties | |||
| sold previously and is considered to be appropriate. | ||||||
| 7a | Fixed asset investments | 2022 | 2022 | 2021 | 2021 | |
| Cost | Valuation | Cost | Valuation | |||
| £ | £ | £ | £ | |||
| 56628.75 CBF Investment Fund units | Unknown | 1,170,029 | Unknown | 1,378,079 | ||
| 3,816.03 CBF Investment Fund units | 42,027 | 78,845 | 42,027 | 89,364 | ||
| 1,248,874 | 1,467,443 | |||||
| Carrying (market) value at beginning of year | 1,467,443 | |||||
| Additions | . | |||||
| Disposals | (47,683) | |||||
| Net loss on revaluation in year | (__ | 170,886) | ||||
| Carrying (market) value at end of year | Page11 | 1,248,874 |
The Parish Church of St Edmund King and Martyr
Notes to the Financial Statements
for the year ended 31 December 2022
7b Current asset investments
| 7b | Current asset investments | ||
|---|---|---|---|
| 2022 | 2021 | ||
| 83 Santander shares (previously Alliance & Leicester plc) | 206 | 205 | |
| Carrying (market) value at beginning of year | 205 | ||
| Net profit on revaluation in year | 1 | ||
| Carrying (market) value at end of year | 206 | ||
| 8 | Debtors | 2022 | 2021 |
| £ | £ | ||
| Debtors | 11,058 | 7,488 | |
| 9 | Cash at bank and in hand | 2022 | 2021 |
| £ | £ | ||
| Current accounts | 164,222 | 126,252 | |
| Deposit accounts | 56,799 | 122,858 | |
| Cash in hand | 7,578 | 5,797 | |
| 228,599 | 254,907 | ||
| 10 | Creditors: amounts falling due within one year | 2022 | 2021 |
| £ | £ | ||
| Accruals | 4,005 | 4,242 | |
| 4,005 | 4,242 | ||
| 11 | Funds |
a) The permanent endowment fund, the May Gethin Trust, was established in 1948 with a gift of 3.263 acres known as the Grove Street allotments in Mansfield Woodhouse. This land was subsequently sold and the remainder of the majority of the proceeds spent on the renovation of the Stable Centre. The remainder is invested in 344 CBF Investment units.
| b) | The restricted funds balance at 31 December 2022 was made up as follows: | 2022 | 2021 |
|---|---|---|---|
| £ | £ | ||
| Partnershop | 33,440 | 23,123 | |
| Clock Fund | - | 19 | |
| St Chad's Appeal Fund | 5,026 | 5,014 | |
| Community Market | 1,675 | 1,675 | |
| F2 appeal | 5,970 | 7,636 | |
| Turner Hall Refurbishment Fund | 3,877 | 8,614 | |
| Youth Worker | 800 | 800 | |
| Turner Hall Events Fund | 4 | 4 | |
| St Edmunds Church Bells Fund | 1,431 | 1,431 | |
| The Housley, Gethin, Chapman and Clay Pit Lands Charities | 1,257,814 | 1,521,183 | |
| Foodbank | 83,690 | 63,277 | |
| 1,393,727 | 1,632,776 |
If donations are made for a specific purpose these are held as restricted funds as the proceeds are only used for the purpose specified.
Page 12
The Parish Church of St Edmund King and Martyr
Notes to the financial statements
for the year ended 31 December 2022
11. Funds (Continued)
The following table describes the purpose of each fund.
Fund Purpose Partnershop These funds are generated by the charity shop and are used for the purpose of running the shop with any surplus funds being used to make grants to deserving causes. St Chad's Appeal Fund These funds are used for the renovation of St Chad's church. Clock Fund These funds are for the purpose of renovating the church clock. Community Market These funds are for the purpose of running the community markets. F2 Appeal (Community orchard) These funds are for the continued upkeep of the community orchard. Turner Hall Events Fund These funds are to facilitate the organisation of events where prior expenditure is required. Turner Hall Refurbishment Fund These funds have been donated for the purpose of future refurbishment costs of the Turner Hall. Youth Worker These funds contain donations towards the cost of employing someone to work in the community with a view to encouraging children and families to become active members of the Church. St Edmunds Bells A fund to provide for the repair and maintenance of the church bells in St Edmunds Church. Foodbank Sherwood Forest Foodbank provides emergency food for local people in crisis. The Housley, Gethin, Chapman and Clay These funds are to meet the costs of administering the charity Pit Lands Gharities including the managing of the buildings, together with costs in furthering the object of the charity.
- c) Theunrestricted funds are available to be spent for any purpose of the charity.
Of the unrestricted funds held at the year end, some of these are designated for specific purposes and projects. There are no restrictions placed upon the remaining balance of these funds and they can be used however the trustees consider appropriate.
12 Trustees
During the year some of the Trustees were remunerated, as follows:
| £ | |
|---|---|
| A Shaw - Partnershop manager | 614 |
| K Colclough - reader | 3,752 |
| D Colclough - Churchwarden | 700 |
| R Greaves - Cleansing | 1,032 |
| Notrusteeswerereimbursedinrelationtotravellingandadministrationexpenses. |
13 Controlling party
The PCC is under the control of the trustees.
Page 13