THE PARISH OF SAINTS PETER & PAUL FAREHAM, HAMPSHIRE
Registered Charity No. 1128765
Parish Priest: Fr Roger Jackson SSC
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
THE PAROCHIAL CHURCH COUNCIL OF ST PETER AND ST PAUL FAREHAM
INDEPENDENT EXAMINER'S REPORT
TO THE PAROCHIAL CHURCH COUNCIL OF ST PETER AND ST PAUL, FAREHAM | report on the accounts of the Parochial Church Council for the year ended 31 December 2022 which are set out on pages 6 to 20.
Respective responsibilities of the Parochial Church Council and examiner
The members of the Parochial Church Council are responsible for the preparation of the financial statements. You consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the 2011 Act) or the Church Accounting Regulations 2006 (the Regulations) and that an independent examination is needed.
It is my responsibility to:
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(i) examine the accounts under the Regulations and section 145 of the 2011 Act, (ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)({b) of the 2011 Act; and
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(iii) to state whether particular matters have come to my attention.
My examination was carried out in accordance with the General Directions given by the Charity Commission under section 145(5)(b) of the Act and to be found in Church of England guidance. That examination includes a review of the accounting records kept by the Parochial Church Council and a comparison of the accounts with those records. It also includes considering any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner's statement
in connection with my examination, no matter has come to my attention:
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(a) which gives me reasonable cause to believe that in any material respects the requirements: (i) to keep accounting records in accordance with section 130 of the 2011 Act: and (ii) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act and the Regulations have not been met: or
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(b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mrs Samantha Diment
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O tmd-.
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255A White Hart Lane, Portchester PO16 9AS
Dated: 12" May 2023
THE PARISH CHURCH OF ST PETER AND ST PAUL, FAREHAM ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2022
information
The Church of St Peter and St Paul is situated adjacent to the Civic Offices, Medical & Social Services and the main shopping precinct close to the heart of the Town Centre. It is part of the Diocese of Portsmouth within the Church of England. It is a parish affiliated to The Society (‘The Society under the patronage of Ss Wilfred and Hilda’) and registered with Forward in Faith. The Parochial Church Council has passed a resolution under the House of Bishops Declaration on the Ministry of Bishops and Priests and accordingly receives episcopal pastoral and sacramental care from the Bishop of Richborough.
The correspondence address is Osborn Road, Fareham, Hampshire, PO16 7DR.
Objectives, Activities & Safeguarding
Ss Peter & Paul Parochiat Church Council (the PCC) has the responsibility of co-operating with the Parish Priest, the Reverend Fr Roger Jackson, in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, and ecumenical.
Ss Peter & Paul PCC also has maintenance responsibilities for the listed Parish Church of Ss Peter & Paul. The Churchyard, closed by Order of Council, is maintained by the local authority on behalf of the PCC of Ss Peter & Paul.
The PCC is committed to enabling as many people as possible to worship at Ss Peter and Paul and to become part of the ongoing community of faith.
The PCC maintains an overview of worship and activities throughout the Parish. The Parish Priest and the PCC have considered the Commission’s guidance on public benefit and in particular, the specific guidance for charities for the advancement of religion. A key focus is to enable people to live out their faith as part of our parish community especially through:
Worship, the celebration of the Sacraments and Prayer, Biblical knowledge and teaching. Empowering and seeking to disciple the families and children of our Parish and beyond. Provision of life events celebrations & pastoral care for people living in the parish and beyond. World and Home Mission, Outreach Support and Work.
Worship and prayer
During 2022 the PCC have made regular adaptations to remove the restrictions of the Covid-19 pandemic. The PCC are very grateful to all members of the worshipping community who have upheld the precautions put in place by the PCC. As of Easter 2023 the last restrictions were removed.
Live streaming to our Facebook page continues. During November 2021 the PCC launched an appeal to raise £5,000 to provide for the wider use of ‘live streaming’ all worship and other activities from the church building. The appeal continues to run. The PCC would like to thank all those individuals who have so generously contributed to the appeal. We’re delighted that the target figure is almost reached.
2
Families and Children
As part of our Families and Children outreach we actively support and meet with families and staff members that are resident in the local domestic abuse refuge.
Regular visits to meet children at a local primary to lead worship and teach about the major festivals.
Life Events & Pastoral Care
The PCC established a small Pastoral Team of volunteers to maintain pastoral contact with those who have not been able to return to church. This has changed as the PCC follow the Diocesan initiative re Anna Chapliancy.
Anna Chaplaincy - The PCC are delighted that Canon Margaret Chappell has been trained and commissioned as an Anna Chaplain and is supported in this ministry by those who have volunteered to be Anna Friends. Under her directions this team will be making regular contact (after the required Safeguarding/DBS protocols completed) with and visiting the Nursing/Care Homes across the parish and all from our own worshipping community who through frailty are housebound.
Life Events e.g. funerals, Weddings, continue to be celebrated in our parish church,
Mission and Outreach
The PCC have led the support for many organizations throughout the year both financially and prayerfully and by raising awareness. We have regularly had retiring collections to financially support the Disaster Emergency Committee appeals (via Christian Aid) and the work of Mission agencies (Mission to Sea Farers etc).
See also, above, our outreach to Knowle Village.
Volunteers
The PCC would like to thank all who contribute so generously in time and giving to make our church a community of disciples. Without your generosity the ministry and work would not take place.
Structure, Governance and Management
The Parochial Church Council (PCC)
The PCC is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC is a registered Charity.
The method of appointment of PCC members is set out in the Church Representation Rules. At Ss Peter & Paul, Fareham the membership of the PCC consists of the Parish Priest, churchwardens, two Deanery Synod Representatives as ex officio members plus members elected by those who are on the Church Electoral Roll. All those who attend our services or live in the parish are encouraged to register on the Roll and stand for election to the PCC.
The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including how the funds of the PCC are to be spent.
3
The activities planned by the PCC complied with the Charity Commission’s guidance on public benefit, and were open to (and often were intended for) residents of the parish and the wider area.
Reference and administrative details
The Parochial Church Council (PCC) is a charity registered with the Charity Commissioners as “The Parochial Church Council of the Ecclesiastical Parish of St Peter & St Paul, Fareham” with charity number 128765
Bankers: Lloyds Bank PLC
Independent Examiner: Samantha Diment. 255a White Hart Lane, Portchester, PO16 9AS
Membership of the Parochial Church Council
Members of the PCC are either ex-officio or elected by the Annual Meeting to elect Churchwardens and the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules. During the year, the following served as members of the PCC:
Members ex-officio: The Reverend Fr Roger Jackson (Parish Priest); Canon Margaret Chappell (Churchwarden & Vice-Chair); Christine Allen (Deanery Synod Rep) Elected members: Anne Butcher (PCC Secretary), Nick Millett, Janet Day. Co-opted members: David Hercock (Hon. Treasurer).
No member of the PCC is reimbursed for any expenses incurred for serving on the Council.
Nominations for membership are invited from the congregation prior to the APCM.
The following Committee meets as required:
The Standing Committee. This is the only Committee required by church law, and meets to transact emergency business of the PCC between meetings. It is subject to the direction of the PCC.
Meetings of the PCC
The PCC has met eight times (via video ink or in person) since the last annual meeting. Minutes of each meeting, once they have been agreed and signed, are published by the PCC Hon Secretary to the church notice board (by the Office).
Some of the items discussed include:
Safeguarding (a standing agenda item)
The PCC appointed Kathleen Harrison to assist the PSO with the ongoing task of DBS verification.
Health and Safety (a standing agenda item)
Covid restrictions have been closely monitored and reviewed at each meeting. When it was deemed safe to do the preventative measures were relaxed and removed.
Also:
Emergency exits.
Fire assembly
Annual inspection and testing of fire safety equipment — replacement where needed
4
Church
Maintenance and repair to church property is ongoing. When available the church is also used by outside agencies. Namely the national team working on the Gosport War Memorial Hospital Inquiry. The civic memorial service for the late Queen Elizabeth II was held in church.
An area in front of the west entrance to the church has been dug over by volunteers in preparation for establishing a small garden. The idea was to celebrate the late Queen’s platinum jubilee.
Church Hall
PCC Officers have worked hard to secure additional funding for the church & hall by renting the hall. The PCC were granted faculty permission from the Chancellor to lease the hall. A tenant was been found anda five year agreement (reviewed at 30 months) signed. This secures for the PCC a guaranteed minimum income of £15,000 for term. This has meant some inconvenience for the worshipping community - namely limited access to the lounge/hall for Coffee/tea after Parish Mass/car parking not readily available outside of Sunday services. However, adaptions are being worked on (tea/coffee at west end of church etc).
Churchyard
Repairs to memorials & safety checks have been undertaken by the local authority under faculty. The PCC remain very, very grateful for the work the local authority undertakes in the regular maintenance of our churchyard grounds and headstones.
The local authority did ask the PCC to acknowledge its responsibility with regard to the churchyard cross (WW1 memorial). Having established that its inception and funding was purely parish church based PCC duly accepted its responsibility for the maintenance of the listed memorial.
Knowle
Our property at Knowle has continued to provide a very welcome income. Having been recently re-let to new tenants at an increased rent. Ongoing maintenance of that property has been necessary with a replacement boiler and some remedial decoration between lets.
Deanery Synod (a standing agenda item)
Met infrequently because of Covid restrictions. However when it did meet it is still discussing missional and pastoral deployment of limited stipendiary resources. The Synod ends its three year term in the summer.
5
Financial Review
The expenditure and income in the years 2021 and 2022 for all funds can be summarised as follows:-
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||||||||
|---|---|---|---|---|---|---|
|2022|2021|
|£|£|
|INCOME|
|Income|(excluding|investment|income)|39,822|40,151|
|Investment|income|5,525|1,848|
|TOTAL|INCOME|45,347|41,999|
|EXPENDITURE|
|"Fairer Share”|payment to|Diocese|40,404|40,006|
|Other|Expenditure|21,583|35,992|
|TOTAL|EXPENDITURE|61,987|75,998|
|UNRESTRICTED|DEFICIT FOR YEAR **|(16,640)|(33,999)|
|DESIGNATED|FUNDS|SURPLUS|FOR|YEAR|4,320|2,596|
|RESTRICTED|SURPLUS|FOR YEAR|7,156|11,131|
|TOTAL SURPLUS|(DEFICIT)|FOR|YEAR|(5,164)|(20,272)|
|Increase|(decrease)|in valuation|of investments|(20,363)|48,291|
|TOTAL (DECREASE)|INCREASE OF FUNDS|IN|YEAR|(25,527)|28,019|
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** The Unrestricted Deficit was £7,859 in 2015, £6,962 in 2017, £5,706 in 2018, £11,203 in 2019 and £1,467 in 2020. 2016 sawa surplus of £2,136.
As in most previous years, routine expenditure exceeded routine income and will continue unless higher attendance and activity is achieved.
Reserves Policy
It is PCC policy to maintain a balance on unrestricted funds of £30,000 to cover emergency situations that may arise from time to time. As at 31 December 2022 the balance exceeded £210,000.
6
Statement of Trustees’ Responsibilities
The trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these accounts, the trustees are req uired to:
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e select suitable accounting policies and then apply them consistently;
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e observe the methods and principles of the Charities SORP;
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® make judgements and estimates that are reasonable and prudent e state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and
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® prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the governing document of the Charity.
They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Approved by Parochial Church Council
Date:Chairman:16/5/23 eA \ nanaZA [enn] [inne nee] [nen][ nnn][ nnn][ nnnnnn] [nnn]
PCC member c AW,
Vy
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7
Statement of Financial Activities for the year ended 31 December 2022
| Unrestricted Designated |
Unrestricted Designated |
Unrestricted Designated |
Restricted | Restricted | Endowment | Endowment | Total | Total | asl | |
|---|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | funds | total funds |
|||||
| a | ||||||||||
| Income andendowments from: | £ | £ | £ | £ | £ | £ | ||||
| Donations and legacies | 32,620 | _— | 1,656 | _ | 34,276 | 36,979 | ||||
| Incomefrom charitable activities | 7,202 | = | — | —- | 7,202 | 4,397 | ||||
| Investments | 5,525 | 2,818 | 311 | 12,689 | 21,343 | 17,211 | ||||
| Otherincome | 0 2,744 0 — 2,744 1,561 i SS eee eee |
|||||||||
| Total income | 45,347 | 5,562 | 1,967 | 12,689 | 65,565 | 60,148 | ||||
| Expenditure on: | ||||||||||
| Raisingfunds | 0 | — | _ | — | 0 | 52 | ||||
| Expenditureon charitable activities: | ||||||||||
| Charitable Giving | 110 | 1,242 | 0 | — | 1,352 | 1427 | ||||
| Education | — | — | 946 | — | 946 | 1,198 | ||||
| Ministry | 42,056 | _ | 0 | _ | 42,056 | 41,834 | ||||
| Running Costs | 9,453 | — | ae | 6,554 | 16,007 | 11,394 | ||||
| Office Costs | 493 | — | — | —_ | 493 | 403 | ||||
| Gratuities | 2,652 | — | — | — | 2,652 | 2,652 | ||||
| Non-routine Maintenance | 7,094 | — | _ | - | 7,094 | 21,613 | ||||
| Other | 128 | = | — | _ | 128 | 147 | ||||
| EE | ||||||||||
| Total expenditure | 61,987 1,242 946 6,554 70,729 80,420 SS e————————eEE~—————E—ELE——EEE_—E——EEEEEEE |
|||||||||
| Net income / (expenditure) resources before transfer |
(16,640) | 4,320 | 4,021 | 6,135 | (5,164) | (20,272) | ||||
| Other recognised gains / losses | ||||||||||
| Gains/(losses)on investmentassets | (5,381) eee |
(3,114) et |
(383) a |
(11,485) | (20,363) 48,291 Eee |
|||||
| Netmovement infunds | ee | (22,021) reei |
1,206 | 639 (5,350) SSS |
(25,527) | 28,019 | ||||
| Total fundsbroughtforward | 232,097 134,342 se |
16,545 | 523,039 906,023 878,004 eee |
|||||||
| Total fundscarried forward | 210,076 | 135,548 | 17,184 | 517,689 | 880,496 | 906,023 | ||||
| ee |
8
Balance Sheet as at 31 December 2022
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|||||||||
|---|---|---|---|---|---|---|---|
|Total|funds|Prior year funds|
|Fixed|assets|£|£|
|Investments|[Note|3]|613,357|631,231|
|613,357|631,231|
|Current|assets|
|Debtors|[Note|4]|3,059|3,827|
|Cash|at bank and|In|hand|[Note|1]|266,906|281,057|
|269,965|284,884|
|Liabilities|
|Creditors:|Amounts|falling due|in|2,826|10,092|
|one year|[Note|5]|
|2,826|10,092|
|Net|current assets|less current|267,139|274,792|
|liabilities|
|Total|assets|less|current|liabilities|880,496|906,023|
|Total|net|assets|less|liabilities|880,496|906,023|
|Represented|by|[Notes|7|and|8]|
|Unrestricted|General|fund|210,076|232,097|
|Designated|
|Fabric|Designated|Fund|135,548|134,342|
|Restricted|
|Kitchen|improvements|264|264|
|Prices Trust|11,443|10,631|
|Memorial|Fund|5,476|5,650|
|Endowment|517,689|523,039|
|Funds|of the|church|880,496|906,023|
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Approved by Parochial Churgh ncil
pate: (6/5/23 (\
Chairman: wonene anna yllnnnnnnmnnnnnnnnnnnnnnmnnnnenne
1
PCC member oF
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9
Statement of Cash Flows for the year ended 31 December 2022
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Cash Flowsfrom operating activities | |||
| Netcash provided byoperating activities | (35,494) | (29,993) | |
| Cash flowsfrom investing activities | |||
| Dividends, interest and rentsfrom | investments | 21,343 | 17,211 |
| Netcash provided byinvesting activities | 21,343 | 17,211 | |
| Change in cash and cash equivalents inthe reporting period | (14,151) | (12,782) | |
| Cash and Cash equivalents atthe beginning ofthe reporting period | 281,057 | 293,839 | |
| Cash and Cash equivalents atthe end ofthe reporting period | 266,906 | 281,057 | |
| Neen eee | ——EyEy———eeE~L | EEE | |
| Notes:- | |||
| Reconciliation of net movement in funds | to net cash flowsfrom | ||
| operating activities | |||
| Netmovement infunds forthereporting statement offinancial activities) |
periods (asperthe | (25,527) | 28,019 |
| Adjustments for: | |||
| (Gains)/losseson investments | 20,363 | (48,291) | |
| Dividends, interest and rentsfrom | investments | (21,343) | (17,211) |
| (Increase)/decrease in debtors | 69 | 2,855 | |
| Increase/(decrease) in creditors | (9,056) | 4,635 | |
| Netcash provided byoperating activities | (35,494) | (29,993) | |
| Analysis ofcashand cash equivalents | |||
| Cash in hand and in bank/CBF Deposit Account | 266,906 | 281,057 | |
| Totalcashandcashequivalents | 266,906 | 281,057 |
10
Analysis of income and expenditure 2022 INCOME
Donations and legacies
| INCOME | |||||||
|---|---|---|---|---|---|---|---|
| Donations andand legacies | Total | ||||||
| Unrestricted | Designated | Restricted | Endowment | The year |
lst year |
||
| £ | £ | £ | £ | £ | £ | ||
| Stewardship Giving & GiftAid | |||||||
| Envelopes | 22,248 | : | - | - | 22,248 | 24,181 | |
| GiftAid -Tax recoverable | 6,526 | . | - | - | 6,526 | 5,979 | |
| Collections(Open Plate) | 1,682 | - | - | - | 1,682 | 1,476 | |
| Donations (general) | 2,164 | . | - | - | 2,164 | 2,118 | |
| Legacy | 0 | 0 | 2,000 | ||||
| Grants - Prices Trust | - | - | 1,656 | - | 1,656 | 1,225 | |
| Memorial Fund | - | . | - | - | - | - | |
| Total | 32,620 | 0 | 1,656 | 0 | 34,276 | 36,979 | |
| Income from charitable | |||||||
| activities | |||||||
| Total | |||||||
| Unrestricted | Designated | Restricted | Endowment | Tits year |
Last | year | |
| £ | £ | £ | £ | £ | £ | ||
| Donations foruse | 5,000 | - | - | ~ | 5,000 | 850 | |
| Magazine | - | - | - | - | 0 | 0 | |
| PCC Fees | 2,202 | . | - | - | 2,202 | 837 | |
| Coffees, Teas and other refreshments |
: | : | : | : | - | ||
| Listed Places ofWorship Grant | 0 | - | - | - | 0 | 2,710 | |
| Scheme | |||||||
| Total | 7,202 | 0 | 0 | 0 | 7,202 | 4,397 | |
| Investments | |||||||
| Total | |||||||
| Unrestricted | Designated | Restricted | Endowment | This year |
AS year |
||
| £ | £ | £ | £ | £ | £ | ||
| CBF Investment Fund | 1,605 | 1,765 | 195 | - | 3,564 | 2,593 | |
| CBF Property Fund | 766 | 843 | 93 | - | 1,702 | 1,284 | |
| LloydsTSB Interest | 0 | - | - | > | 0 | 1 | |
| CBF Deposit Bank Interest | 192 | 211 | 23 | - | 426 | 26 | |
| Diocesan CBF Deposits | 2,962 | - | - | 2,489 | 5,451 | 1,067 | |
| Rental Property | - | - | Fs | 10,200 | 10,200 | 12,240 | |
| Total | 5,525 | 2,818 | 311 | 12,689 | 21,343 | 17,211 |
11
Other Income
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||||||||||
|---|---|---|---|---|---|---|---|---|
|Total|
|Unrestricted|Designated|Restricted|This|East|
|Endowment|year|year|
|£|£|£|£|£|£|
|Ukrainian|Appeal|401|>|-|401|0|
|Christmas|Charities|r|400|;|-|400|0|
|Harvest|(Christian|Aid)|=|90|=|-|90|249|
|Mission|to|Seafarers|-|87|=|-|87|52|
|Remote|Streaming|-|1,610|>|-|1,610|1,220|
|Floodlighting|-|90|-|-|90|40|
|NSPCC|-|66|-|-|66|0|
|0|2,744|)|0|2,744|1,561|
|INCOME TOTAL|45,347|5,562|1,967|12,689|65,565|60,148|
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12
EXPENDITURE
| Raisingfunds | Total | Total | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Designated | Restricted | Endowment | Thisyear | as | ||||||
| £ | £ | £ | £ | £ | £ | ||||||
| Christmas Tree Festival | . | - | - | - | - | 52 | |||||
| Total | 0 | 0 | ) | 0 | 0 | 52 | |||||
| Expenditureon charitable activities - | |||||||||||
| CharitableGiving | Total | ||||||||||
| Unrestricted | Designated | Restricted | Endowment | ne Last year —syear |
|||||||
| £ | £ | £ | £ | £ | £ | ||||||
| Forward in Faith | 60 | - | 60 | 6) | |||||||
| Ukrainian Appeal | 401 | . | A401 | ||||||||
| Christmas Charities | 400 | 400 | |||||||||
| ChristiansTogether in Fareham | 50 | - | 50 | 17: | |||||||
| Harvest (Christian Aid /UNICEF) | 90 | - | 90 | 24 | |||||||
| Mission to Seafarers | 87 | - | 87 | 5 | |||||||
| Southern Domestic Refuge | - | - | - | 39 | |||||||
| NSPCC | 66 | - | 66 | ||||||||
| Community Heartbeat | 198 | 198 | 19 | ||||||||
| Total | 110 | 1,242 | 0 | 0 | 1,352 | 1,12 | |||||
| Expenditureoncharitable activities - | Education | ||||||||||
| Total | |||||||||||
| Unrestricted | Designated | Restricted | Endowment | Tie Uae year ‘year |
|||||||
| £ | £ | £ | £ | £ | £ | ||||||
| Children’s items | . | 385 | 385 | 845 | |||||||
| Activities | - | 561 | 561 | 353 | |||||||
| Total | 0 | 946 | 946 | 1,198 |
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| Expenditure on charitable activities - | Expenditure on charitable activities - | Ministry | ||||||
|---|---|---|---|---|---|---|---|---|
| Total | ||||||||
| Unrestricted | Designated | Restricted | Endowment | Ee year |
ast year |
|||
| £ | £ | £ | £ | £ | £ | |||
| Parish Share | 40,404 | 40,404 | 40,00 | |||||
| Vicarage workingexpenses | 369 | 369 | 69 | |||||
| Vicarage telephone | 591 | 591 | 42 | |||||
| Vicarage water rates | 440 | 440 | 45 | |||||
| Copyright Licence | 252 | 252 | 24 | |||||
| Memorial Fund | ) | 0 | 1 | |||||
| Total | 42,056 | 42,056 | 41,83. | |||||
| Expenditureon charitable activities | - | Running | Costs | |||||
| Total | ||||||||
| Unrestricted | Designated | Restricted | Endowment | This year |
nas ‘year |
|||
| £ | £ | £ | £ | £ | £ | |||
| Church Electricity | 4,615 | 4,615 | 1,3 | |||||
| Church Insurances | 3,359 | 3,359 | 3,2! | |||||
| Church Organ Tuning&Maintenance | 207 | 207 | 1,3 | |||||
| Church Maintenance | 703 | 703 | 2,4 | |||||
| Hall Maintenance | 126 | 126 | ||||||
| Rental PropertyAgents& Legal | Fees | 5,671 | 5,671 | 2,3 | ||||
| Rental Property Maintenance | 883 | 883 | ||||||
| Sacristy | 443 | 443 | i | |||||
| 9,453 | 0 | 0 | 6,554 | 16,007 | 11,3 | |||
| Expenditure on charitable activities | - | Office Costs | ||||||
| Total | ||||||||
| Unrestricted | Designated | Restricted | Endowment | This year |
Last ‘year |
|||
| £ | £ | £ | £ | £ | £ | |||
| Telephone | 406 | 406 | A | |||||
| Office Miscellaneous | 87 | 87 | ||||||
| Total | 493 | 493 | 4 | |||||
| Expenditureoncharitable activities - | ag Gratuities |
Total | ||||||
| Unrestricted | Designated | Restricted | Endowment | This year |
Last ‘year |
|||
| £ | £ | £ | £ | £ | £ | |||
| Gratuity-Administrator | 1,632 | 1,632 | 1,6 | |||||
| Gratuity -Organist | 1,020 | 1,020 | 1,0. | |||||
| Total | 2,652 | 2,652 | 2,6 |
14
Expenditure on charitable activities -
Non-routine maintenance
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|||||||||
|---|---|---|---|---|---|---|---|
|Total|
|Unrestricted|Designated|Restricted|Endowment|Thisi|Las|t|
|year|‘year|
|£|£|£|£|£|£|
|Church|-|non-routine|maintenance|7,094|7,094|9,4|
|Hall|-|non-routine|maintenance|0|=|Oo|12,1|
|Total|7,094|0|7,094|21,6|
|Expenditure|on|charitable|activities|-|
|Other|Total|
|Unrestricted|Designated|Restricted|Endowment|THi|Lant|
|year|‘year|
|£|£|£|£|£|£|
|Bank Charges|128|128|1.|
|Total|128|128|1.|
|a|
|EXPENDITURE TOTAL|61,986|1,242|946|6,554|70,728|80,420|
|TOTAL SURPLUS/|(DEFICIT)|(16,640)|4,320|1,021|6,135|(5,164)|(20,272)|
----- End of picture text -----
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Notes to the Financial Statements for the year ended 31 December 2022
- Accounting Policies
The financial statements have been prepared in accordance with the Charities Act 2011, the associated Church Accounting Regulations 2006, applicable accounting standards and the Statement of Recommended Practice for Accounting and Reporting by Charities with applicable accounting standard FERS 102. The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value.
Funds
General funds represent the funds of the PCC that are not subject to any restriction regarding their use and are available to be used for PCC ordinary purposes. Funds designated for a particular purpose by the PCC are also unrestricted.
Restricted funds can only be used for the purposes specified. Incoming resources from endowment funds are restricted.
The accounts include transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body, informal gatherings of church members or the costs and income related to Diocesan Fees which are dealt with through the PCC bank account.
Incoming Resources
Voluntary income and capital sources
-
e Collections are recognised when received by or on behalf of the PCC e Planned giving receivable under Gift Aid is recognised only when received
-
e Income Tax recoverable on Gift Aid donations is recognised when the incoming resources to which the recovery relates are received
-
e Grants and legacies to the PCC are recognised when there is evidence of entitlement, receipt is probable and its amount can be measured reliably
-
e Income from all fund raising events is accounted for gross
Other income
- ¢ Dividend and interest entitlements are accounted for when they are due/accrue and any income tax recoverable is recognised in the same accounting year
Gains and losses on investments
- e Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at mid-market value on 31 December
Resources expended
Grants, donations and invoices
- e Grants and donations are accounted for when paid over, or when awarded if that award creates a binding or constructive obligation on the PCC. All other expenditure is generally recognised when it is incurred
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Parish Share e The Parish Share ("Fairer Share") is accounted for when payable
- Value Added Tax e Value Added Tax is included in the cost of items reported in the statement of financial activities
Fixed Assets
Consecrated property & moveable church furnishings
-
e Consecrated and beneficed property of any kind is excluded from the accounts by section 10(2)(a) of the Charities Act 2011
-
¢ Movable church furnishings held by the Vicar and Churchwardens on special trust for the PCC and which require a faculty for disposal are accounted as Heritage Assets unless consecrated. They are listed in the church's inventory which can be inspected at any reasonable time. For Heritage assets acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired since 1 January 2000 have been capitalised and depreciated in the accounts over their currently anticipated useful economic life on a straight line basis
-
e No depreciation is provided on freehold land and buildings as the Net Realisable Value is such that depreciation would be immaterial to the accounts
-
e All expenditure incurred in the year on consecrated or beneficed buildings, individual items under £5,000 or on the repair of movable church furnishings acquired before 1 January 2000 is written off
-
Other fixtures, fittings and office equipment
-
e Equipment used within the church premises is depreciated on a straight line basis over4 years. Individual items of £5,000 or less are written off when acquired
-
Investments e Investments are valued at mid-market value at 31 December
Current Assets
Amounts owing to the PCC at 31 December 2022 in respect of fees, rents or other income are shown as debtors less any necessary provision for amounts that may prove uncollectable.
Cash at bank and cash equivalents at 31 December 2022 is shown as follows:
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Lloyds Bank PLCCurrent Account | 6,048 | 3,854 | |
| Lloyds Bank PLC DepositAccount | 232 | 232 | |
| CBF Church ofEngland DepositAccount | 34,580 | 53,887 | |
| Held by Diocesan Board of Finance | 226,046 | 223,084 | |
| TOTAL | 266,906 | 281,057 |
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2. Payments to PCC and employees and related party transactions
Payments to PCC members Mrs Anne Butcher received a gratuity of £1,632 in her capacity of Administrator
The PCC has no employees
Related Party Transactions During the year, donations from all PCC members while in office amounted to £3,644 (excluding Gift Aid) (£4,813 in 2021). Father Roger Jackson SSC, Mrs Margaret Chappell and Mrs Anne Butcher (coopted) sit on the Board of Trustees for the William Price Charitable Trust. The Trust provides grants to the PCC, amongst other organisations, for the education of the under 25’s in furthering their Christian upbringing. During the year the PCC received £1,656 (£1,225 in 2021) from the Trust.
3. Fixed Assets for us by the PCC
Investment Assets
A property in Knowle Village was purchased in 2020 a cost of £270,011 is held as an investment asset to generate rental income. As rental income and sale proceeds are restricted to use on maintenance of the fabric of the church, these funds are included in restricted balances and are shown as investments to emphasise the intended use of funds.
| INVESTMENTS | 31-Dec-21 | Interest | Interest | Gain/(Loss) 31-Dec-22 |
Gain/(Loss) 31-Dec-22 |
Gain/(Loss) 31-Dec-22 |
|
|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | ||||
| Investment Property | 270,011 | - | - | 270,011 | |||
| CBF Investment Fund (General) | 135,643 | - | (15,897) | 119,746 | |||
| CBF PropertyFund (General) | 38,065 | - | (4,466) | 33,599 | |||
| Diocesan Board of Finance: | |||||||
| Endowment property proceeds | 187,512 | 2,489 | - | 190,001 | |||
| TOTAL | 631,231 | 2,489 | (20,363) | 613,357 | |||
| Unrestricted | Restricted | Endowment | Total | ||||
| Net Assets by Fund: | Funds | Funds | Funds | ||||
| £ | £ | £ | £ | ||||
| Investments | 144,324 | 9,021 | 460,012 | 613,357 | |||
| Current Assets | 204,125 | 8,163 | 57,677 | 269,965 | |||
| Current Liabilities | (2,826) | - | (2,826) | ||||
| TOTAL | 345,623 | 17,184 | 517,689 | 880,496 |
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4. Debtors
| 4. Debtors |
||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Gift Aid Recoverable | 2,000 | 1,571 |
| Other Debtors | 1,059 | 2,256 |
| 3,059 | 3,827 |
5. Creditors
----- Start of picture text -----
2022 2021
£ £
Accruals of Utility costs 1,082 864
Creditors for Goods and Services 1,744 9,228
2,826 10,092
----- End of picture text -----
6. Year End Commitments
There are no significant commitments not recognised in the accounts.
7. Fund Details
The following funds are operated:
Designated Fabric Fund
Maintenance and improvement schemes for church buildings
Restricted Fabric Fund Memorial Fund
General maintenance of the church buildings
Memorial . : ; ‘ Fund Subscribed to by those associated with those named in the Memorial Book and used for the beautification of the Organ Fund church For maintenance of the organ Prices Charity Funds from the William Price Charitable Trust for the education of members of the congregation under the age of 25 years
Shell Fund
To account for funds related to pilgrimages
Kitchen Improvements
To fund improvements to the kitchen in the Church Hall
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8 ANALYSIS OF FUNDS
| 8 ANALYSIS OF FUNDS | ||||||
|---|---|---|---|---|---|---|
| Gains | ||||||
| Balance | Income | Outgoings | and losses |
Transfers | Balance | |
| brought | carried | |||||
| Unrestricted | forward | forward | ||||
| £ | e | £ | £ | £ | ||
| General | 232,097 | 45,347 | (61,987) | (5,381) | - | 210,076 |
| 232,097 | 45,347 | (61,987) | (5,381) | - | 210,076 | |
| Designated | ||||||
| Fabric | 134,342 | 5,562 | (1,242) | (3,114) | - | 135,548 |
| 134,342 | 5,562 | (1,242) | (3,114) | - | 135,548 | |
| Restricted | ||||||
| PricesTrust | 10,631 | 1,967 | (946) | (209) | - | 11,443 |
| Memorial Fund | 5,650 | - | 0 | (174) | - | 5,476 |
| Hall Kitchen | 264 | - | - | - | - | 264 |
| 16,545 | 1,967 | (946) | (383) | - | 17,183 | |
| Endowment | ||||||
| Endowment Property | 270,011 | - | - | - | - | 270,011 |
| Endowment Funds ** | 253,028 | 12,689 | (6,554) | (11,485) | - | 247,678 |
| 523,039 | 12,689 | (6,554) | (11,485) | - | 517,689 | |
| TotalFunds | 906,023 | 65,565 | (70,729) | (20,363) | - | 880,496 |
** Representing funds held for intended investment in a second property to generate rental income.
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