THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WITHYCOMBE RALEIGH
A C C O U N T S
FOR THE YEAR ENDED
31 DECEMBER 2022
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WITHYCOMBE RALEIGH
| CONTENTS | Page |
|---|---|
| Independent Examiners Report | 1. |
| Churchwardens’ Report | 2. - 3. |
| Statement of Financial Activities | 4. |
| Balance Sheet | 5. |
| Notes to the Financial Statements | 6. - 13. |
Charity No. 1128842
INDEPENDENT EXAMINER’S REPORT TO
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WITHYCOMBE RALEIGH
I report on the accounts of the Parochial Church Council of the Ecclesiastical Parish of Withycombe Raleigh for the year ended 31 December 2022.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act), and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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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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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the project and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention
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1) which gives me reasonable cause to believe that in any material respect the requirements
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
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2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
J E D Rippon Southon & Co Chartered Certified Accountants 6 The Parade EXMOUTH Devon EX8 1RL
1
Churchwardens’ Annual Report for 2022
The Churchwardens are pleased to report the following:
Withycombe Raleigh PCC has responsibility for the three churches in the Parish and are situated as follows:
Parish Church of St John the Evangelist, Withycombe Village Road, Exmouth, Devon EX8 3AE. All Saints’, Exeter Road, Exmouth, Devon EX8 1RZ
St John in the Wilderness, St Johns Road, Exmouth, Devon EX8 5EG
The 3 churches are in the Aylesbeare Deanery in the Diocese of Exeter. The correspondence address is The Parish Office, Parish Church Hall, Withycombe Village Road, Exmouth, Devon EX8 3AE
The PCC is a body corporate (PCC Powers Measure 1956, and the Church Representation Rules 2022 statement (Charity excepted from registration with the Charity Commission, if appropriate).
Membership
Members of the PCC are elected at the Annual Parochial Church Meeting, the clergy and readers are ex officio members.
During the year the following have served:-
Rector: Fr Robert Sellers Honorary Assistant Priest: Fr Robert Charles Church Wardens: Mrs Penny Stranack Treasurer: Mrs D McNeill Secretary: Mrs K Long Safeguarding Representative: Mrs A Longbottom Churchyard Administrator: Mrs Jane Harvey
St John the Evangelist
Miss E Grant (Deputy Churchwarden) Mr H Ritchie (Deputy Churchwarden) Mr G Berridge (Churchwarden representative) Mrs A Longbottom (Deanery Synod) Mr P White (Diocesan & Deanery Synod)
St John in the Wilderness
Mrs R Johnson (Deputy Churchwarden) Mr P Brooks (Deanery Synod)
Mr P Walker (Deputy Churchwarden)
All Saints
Mrs P Stranack (Churchwarden & Deanery Synod) Mrs L Pearcey (Deputy Churchwarden) Mrs C Searle (Deputy Churchwarden)
The Team Ministry of the Parish and Mission Community was formed within the historic Parish boundaries and over time has proved to be its strength as it continues to develop further its pastoral care and outreach within the Parish and wider community. Each church manages its day to day affairs through its own General Purposes Committee, reporting regularly to the Parochial Church Council which has overall responsibility for the management of the whole parish.
The total membership of the Electoral Roll in 2022 was 265 made up as follows:-
Parish Church of St John the Evangelist 92 All Saints’ 53 St John in the Wilderness 120
The PCC has complied with the duty under Section 5 of the Safeguarding and Clergy Discipline Measure 2016 in that it has due regard to the House of Bishops’ guidance on safeguarding children and vulnerable adults. (This means positive consideration is given to safer recruitment practice and the possibility that activities within the church community may have safeguarding implications) .
Church Wardens report 2022
The Parish has continued to come back to life as covid restrictions have been eased and infections greatly reduced. It was good to be able to welcome, once again, local schools into our churches for carols and Christmas services. The Parish celebrated Queen Elizabeth ll’s Platinum Jubilee in June with a Garden Party and numerous other events. In September, we were all saddened by the death of the Queen. All three churches opened Books of Condolence which many people came to sign. The Parish has been working on ways that we can work with the Coastal Churches Mission Community to bring the Gospel alive throughout the local community. The Rector, Fr Robert Sellers, has again worked tirelessly for the whole Parish. We are extremely grateful for the care and concern he has shown for us all. We are very blessed to have the help and care of our retired clergy Fr Robert Charles, Fr David Arnott and his musical dramas, Fr Ian Blyde, Rev’d Judy Day, Fr Peter Lee, Rev’d Jill Scott and Fr John Sweatman. We want to thank the whole Parish for working hard together, reinvigorating our church life as we emerge from the last three years of covid shut down and its continuing shadow.
Penny Stranack (Churchwarden)
Paul Walker (Churchwarden)
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WITHYCOMBE RALEIGH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| Unrestricted Restricted Note General DesignatedIncome Funds £ £ £ INCOMING RESOURCES3. Incoming resources from generated funds Voluntary Income 96957 - Activities for generating funds 36772 2181 - Investment income 3220 638 - Income resources from charitable activities - - - Other income resources 79716 - - Total Incoming Resources £216665 £2819 £- RESOURCES EXPENDED4. Costs of generating funds Costs of generating voluntary income 194674 - - Fundraising trading costs 17091 - - Investment Management Costs - - - Charitable activities 1945 - - Governance costs 2880 - - Other Resources Expended Total Resources Expended £216590 £- £- Net incoming/(outgoing) resources before transfers 75 2819 - Gross transfers between funds 2431 (11270) - Net incoming/(outgoing) resources before other recognised gains/(losses) 2506 (8451) - OTHER RECOGNISED GAINS/(LOSSES) Gains and losses on revaluation of fixed assets for the charity’s own use 263292 - - Gains and losses on investment assets 4 - - Net movement in funds 265802 (8451) - Total funds brought forward 1451702 49043 __- Total funds carried forward £1717504 £40592 £- |
Endowment Total Funds 2022 £ £ - 96957 - 38953 - 3858 - - - 79716 £- £219484 - 194674 - 17091 - - - 1945 - 2880 £- £216590 - 2894 8839 ____ 8839 2894 - 263292 (13210) (13206) (4371) 252980 51673 1552418 £47302 £1805398 |
Total 2022 £ 96957 38953 3858 - 79716 £219484 |
Total 2022 £ 96957 38953 3858 - 79716 |
Total 2021 £ 96484 29660 18208 - 69160 £213512 192451 13920 - 3064 2850 _ £212285 1227 ______ 1227 68259 3072 72558 1479860 £1552418 |
|---|---|---|---|---|
194674 17091 - 1945 2880 |
||||
| £216590 | ||||
2894 ____ 2894 263292 (13206) 252980 1552418 |
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WITHYCOMBE RALEIGH
BALANCE SHEET AS AT 31 DECEMBER 2022
Note FIXED ASSETS Tangible Assets 7. Investments 8. Total Fixed Assets CURRENT ASSETS Stock and work in progress Debtors 9. Short Term Investments Cash at bank and in hand Total current assets CREDITORS Amounts falling due within one year 10. Net current assets/(liabilities) Total Assets less current liabilities CREDITORS Amounts falling due after one year Provisions for liabilities and charges Net assets FUNDS OF THE CHARITY Unrestricted Funds Designated income funds Endowment funds Total Funds Signed by one or two trustees on behalf of all of the trustees |
Unrestricted Restricted Endowment Total Total General Designated Income Funds Funds 2022 2021 £ £ £ £ £ £ 1476190 1476190 1212898 171312 40592 _ 47302 259206 278604 £1647502 £40592 £- £47302 £1735396 £1491502 - - - 1576 1576 1188 - - - 71276 71276 62548 72852 -_ - -_ 72852 63736 2850 2850 2820 70002 - -_ -_ 70002 60916 1717504 40592 - 47302 1805398 1552418 - - - - - - - - - - - - £1717504 £40592 £- £47302 £1805398 £1552418 1717504 1717504 1451702 40592 - 40592 49043 _ _ __ 47302 47302 51673 £1717504 £40592 £- £47302 £1805398 £1552418 Signature Print Name Date Fr Robert Sellers Fr Robert Sellers 23 April 2023 |
|---|---|
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WITHYCOMBE RALEIGH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
1. Basis of Preparation
1.1 Basis of accounting
These accounts have been prepared on the basis of historic costs (except that investments are shown at market value) in accordance with:
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Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005);
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and with Accounting Standards;
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and with Charities Act 1993.
1.2 Change in basis of accounting
There has been no change to the accounting policies (valuation rules and methods of accounting) since last year
1.3 Changes to previous accounts
No changes have been made to the accounts for previous years
2. Accounting Policies
INCOMING RESOURCES
Recognition of incoming resources These are included in the Statement of Financial Activities (SoFA) when: • the charity becomes entitled to the resources; • the trustees are virtually certain they will receive the resources; and • the monetary value can be measured with sufficient reliability. Incoming resources with related expenditure Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SoFA. Grants and donations Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the resources. Tax reclaims on donations and gifts Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate. Contractual Income and performance related grants This is only included in the SoFA once the goods or services have been delivered. Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable. 6.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WITHYCOMBE RALEIGH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
| Donated services and | |
|---|---|
| facilities | These are only included in incoming resources (with an equivalent amount in |
| resources expended) where the benefit to the charity is reasonably quantifiable, | |
| measurable and material. The value placed on these resources is the estimated | |
| value to the charity of the service or facility received. | |
| Volunteer help | The value of any voluntary help received is not included in the accounts but is |
| described in the trustees’ annual report. | |
| Investment income | This is included in the accounts when receivable. |
| Investment gains and | |
| losses | This includes any gain or loss on the sale of investments and any gain or loss |
| resulting from revaluing investments to market value at the end of the year. | |
| EXPENDITURE AND | |
| LIABILITIES | |
| Liability recognition | Liabilities are recognised as soon as there is a legal or constructive obligation |
| committing the charity to pay out resources. | |
| Governance costs | Include costs of preparation and examination of statutory accounts, the cost of |
| trustee meetings and the cost of any legal advice to trustees on governance or | |
| constitutional matters. | |
| Grants with performance | |
| conditions | Where the charity gives a grant with conditions for its payment being a specific level |
| of service or output to be provided, such grants are only recognised in SoFA once | |
| the recipient of the grant has provided the specific service or output. | |
| Grants payable without | |
| performance conditions | These are only recognised in the accounts when a commitment has been made |
| and there are no conditions to be met relating to the grant which remain in the | |
| control of the charity. | |
| Support costs | Support costs include central functions and have been allocated to activity cost |
| categories on a basis consistent with the use of resources, e.g. allocating property | |
| costs by floor areas, or per capita, staff costs by the time spent and other costs by | |
| their usage. | |
| ASSETS | |
| Tangible fixed assets for | |
| use by the charity | These are capitalised if they can be used for more than one year and cost at least |
| £500. They are valued at cost, or if gifted, at the value to the charity on receipt. | |
| Investments | Investments quoted on a recognised stock exchange are valued at market value at |
| the year end. Other investment assets are included at trustees’ best estimate of | |
| market value. | |
| Stocks and work in | |
| progress | These are valued at the lower of cost or market value. |
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WITHYCOMBE RALEIGH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
| 3.Analysis of incoming resources Note Voluntary income Planned Giving and Tax Recoverable Collections at Services Gift Days and Sundry Donations Grants Legacies Other Activities for generating funds Church Hall lettings Fundraising Other Investment income Dividends and interest Incoming resources from charitable activities Charity Fayre Other incoming resources Parish Magazine Fees Churchyard Parochial Youth Club Income Youth Worker Grant All Saints Institute East Devon District Council Grant Other |
Unrestricted Restricted Endowment General Designated Income Funds Funds £ £ £ £ 78370 - - - 11412 - - - 7003 - - - - - - - - - - - 172 - - - £96957 £- £- £- 29123 7649 - 2181 - - £36772 £2181 £- £- £3220 £638 £- £- £- £- £- £- 3337 - - - 24726 - - - 23932 - - - 15094 - - - - - - - - - - - 6000 - - - 4208 - - - 2419 - - - £79716 £- £- £- |
Total 2022 £ 78370 11412 7003 - - 172 £96957 29123 7649 2181 £38953 £3858 £- 3337 24726 23932 15094 - - 6000 4208 2419 £79716 |
Total 2021 £ 78009 5179 7198 665 5000 433 £96484 25491 3291 878 £29660 £18208 £- 2508 19699 23187 13102 - - 6000 4351 313 £69160 |
|---|---|---|---|
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WITHYCOMBE RALEIGH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
4. Analysis of resources expended
| Note Costs of generating voluntary income Magazine costs Diocesan common fund Clergy expenses Retired Clergy Honoraria Church running and maintenance Upkeep of services Upkeep of churchyard Wages, salaries and honoraria Youth Worker’s Salary Christian Agencies Assets purchased New Building work Major Repairs Support Costs Administration Fund raising trading Church hall running and maintenance Fund raising costs Charitable activities Donations Governance costs Independent Examiners fee |
Unrestricted Restricted Endowment General Designated Income Funds Funds £ £ £ £ 3211 90000 2912 0 43080 1664 30606 10006 - 2312 - - - 7643 3240 _ _ £194674 £- £- £- 16965 126 _ _ £17091 £- £- £- £1945 £- £- £- £2880 £- £- £- |
Unrestricted Restricted Endowment General Designated Income Funds Funds £ £ £ £ 3211 90000 2912 0 43080 1664 30606 10006 - 2312 - - - 7643 3240 _ _ £194674 £- £- £- 16965 126 _ _ £17091 £- £- £- £1945 £- £- £- £2880 £- £- £- |
Total 2022 £ 3211 90000 2912 - 43080 1664 30606 10006 - 2312 - - - 7643 3240 £194674 16965 126 £17091 £1945 £2880 |
Total 2022 £ 3211 90000 2912 - 43080 1664 30606 10006 - 2312 - - - 7643 3240 £194674 16965 126 £17091 £1945 £2880 |
Total 2021 £ 2810 101500 4080 - 39948 883 28218 9197 - 515 - 2813 - 1351 1136 £192451 13774 146 £13920 £3164 £2850 |
Total 2021 £ 2810 101500 4080 - 39948 883 28218 9197 - 515 - 2813 - 1351 1136 £192451 13774 146 £13920 £3164 £2850 |
|---|---|---|---|---|---|---|
5. Details of certain items of expenditure
| 5.1 Trustee expenses Number of trustees who were paid expenses 5.2 Fees for examination or audit of accounts |
None £2880 |
None £2850 |
|---|---|---|
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WITHYCOMBE RALEIGH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
| 6.Paid Employees 2022 6.1 Staff Costs £ Gross wages, salaries and benefits in kind - Employer’s national insurance costs - Pension costs - £- 6.2 Average number of full-time equivalent employees in the year Charitable activities - 7.Tangible Fixed Assets 7.1 Cost or valuation Fixtures Freehold land fittings and and buildings equipment £ £ Balance brought forward 1125649 87249 Additions - - Revaluation 252589 10703 Disposals - - Balance carried forward £1378238 £97952 7.2 Accumulated depreciation and impairment provisions Balance brought forward - - Charge for the year - - Balance carried forward £- £- 7.3 Net book value Brought forward £1125649 £87249 Carried forward £1378238 £97952 |
2021 £ - - - £- - Total £ 1212898 - 263292 - £1476190 - - £- £1212898 £1476190 |
|---|---|
7.4 Revaluation
Fixed assets have been revalued in accordance with a valuation provided by the Ecclesiastical Insurance Group.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WITHYCOMBE RALEIGH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
8. Investment Assets
8.1 Fixed assets investments
Fixed assets investments £ Carrying value at beginning of year 278604 Add: additions to investments at cost - Less: disposals at carrying value - Add: profit/(loss) on revaluation (19398) Carrying value at end of year £259206
| Carrying value at end of year | £259206 | ||
|---|---|---|---|
| 8.2 | Analysis of investments | Market value | Income for |
| at year end | the year | ||
| £ | £ | ||
| Parish Church | |||
| CBF Deposit Account - Organ Fund | 58 | 1 | |
| CBF Deposit Account - Fabric Fund | 53 | 1 | |
| CBF Deposit Account - Choir Fund | 428 | 6 | |
| CBF Deposit Account - Vestments Fund | 139 | 2 | |
| CBF Deposit Account - 150thYear Fund | - | - | |
| 100 Group Santander shares | 262 | 4 | |
| Parish Church Hall | |||
| Deposit Account | 4125 | 6 | |
| All Saints Church | |||
| CBF Deposit Account - General Fund | 154 | 2 | |
| CBF Deposit Account - Sheppard Bequest | 7452 | 97 | |
| 14684 CBF Income Shares | - | - | |
| CBF Fabric Fund | 3256 | 42 | |
| Cambridge & Counties Bank | 2 | - | |
| Cambridge & Counties Bank - 1 Year FRB | |||
| St John in the Wilderness Church | 10198 | 48 | |
| CBF Deposit Account - General Fund | 8114 | 105 | |
| CBF Deposit Account - Capital Projects Fund | 11181 | 238 | |
| CBF Deposit Account - Organ Fund | 21788 | 283 | |
| CBF Deposit Account - Maintenance Contingency Fund |
4633 | 60 | |
| CBF Growth Fund | 2060 | 27 | |
| CBF Training Fund | 253 | 3 | |
| Cambridge & Counties Bank | 54984 | 885 | |
| Churchyard Fund | 6780 | -905 | |
| 1512 CBF Investment fund units | 16895 | -997 | |
| CBF Deposit Account |
4984 | - | |
| CBF Deposit Account |
9743 | - | |
| 1474 M&G Charifund income units | 25423 | -3375 | |
| Withycombe Raleigh PCC | |||
| CBF Income Shares | 66242 | -8838 | |
| £259207 | £-12305 |
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WITHYCOMBE RALEIGH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
| 9. | Debtors and Prepayments | ||
|---|---|---|---|
| Analysis of Debtors | Amounts falling due | ||
| within one year | |||
| This Year | Last Year |
||
| £ | £ |
||
| Other Debtors | £1576 | £1188 | |
| 10. | Creditors and Accruals | ||
| Analysis of Creditors | Amounts falling due | ||
| within one year | |||
| This Year | Last Year |
||
| £ | £ |
||
| Other Creditors | £2850 | £2820 |
11. Endowment and Restricted Funds
11.1 Funds Held
| Fund Name | Type | Purpose and Restriction |
|---|---|---|
| Parish Church | ||
| Organ Fund | Restricted | To provide for the upkeep of the Church Organ |
| Fabric Fund | Restricted | To provide for the upkeep of the Church Fabric |
| Choir Fund | Restricted | To provide for the benefit of the Church Choir |
| Vestments Fund | Restricted | To provide for the upkeep of the Church Vestments |
| 150thYear Fund | Restricted | To provide for celebrations to mark the 150th |
| anniversary of the Church |
All Saints Church
| Choir Fund Vestments Fund 150thYear Fund All Saints Church |
Restricted Restricted Restricted |
To provide for the benefit of the Churc To provide for the upkeep of the Chur To provide for celebrations to mark th anniversary of the Church |
|---|---|---|
| Miss E Hays Legacy | Permanent Endowment | For the general benefit of the Church |
| Miss M F Ramsden-Wood Legacy | Permanent Endowment | For the general benefit of the Church |
| Miss S F Pollard Legacy | Permanent Endowment | For the general benefit of the Church |
| PCC Monies | Permanent Endowment | For the general benefit of the Church |
| St John in the Wilderness | ||
| Capital Projects Fund | Restricted | To provide for future capital projects |
| Organ Fund | Restricted | To provide for the upkeep of the Chur |
| Maintenance Contingency Fund | Restricted | To provide for future maintenance |
| Churchyard | ||
| Daisy Louisa Pook Bequest | Permanent Endowment | For the upkeep of the Churchyard |
To provide for future capital projects To provide for the upkeep of the Church Organ To provide for future maintenance
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WITHYCOMBE RALEIGH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
| 11.2 Movement of Major Funds Fund Names Parish Church Organ Fund Fabric Fund Choir Fund Vestments Fund 150thYear Fund Churchyard Fund St John in the Wilderness Capital Projects Fund Organ Fund Maintenance Contingency Fund Churchyard Daisy Louisa Pook Bequest Withycombe Raleigh PCC CBF Income Shares |
Fund balances brought Incoming Outgoing forward resources resources Transfers £ £ £ £ 57 - - - 52 - - - 422 - - - 137 - - - - - - - 7685 - - - 20013 - 9070 - 21505 - - - 4573 - - - 51673 - - - 75079 - - - £181196 £- £9070 £- |
Gains and Losses £ 1 1 6 2 - (905) 238 283 60 (4371) (8838) £(13523) |
Fund balances carried forward £ 58 53 428 139 - 6780 11181 21788 4633 47302 66241 £158603 |
|---|---|---|---|
12. Other Information
During the year the Charity administered the collection and payment of £6,348.50 of EDBF fees. This is not reflected in the accounts as the funds never belonged to the Charity.
13. Reserves Policy
The Trustees consider that the accounts allow for the agreed Reserves Policy of £75,000, it is considered that such reserves would allow for the financial stability and the continuance of our principal activities and responsibilities as a charity.
This reserve is held to ensure that during the accounting period, in the case of any unforeseen occurrences across the Parish, at least three months operating costs will be available to provide financial support to any of our Parish Churches (St John the Evangelist, St John in the Wilderness, All Saints’); the Churchyard; and our two church halls (located at St John the Evangelist Church & All Saints Church).
Fr Robert Sellers, Rector, and the Parish Treasurer will keep this level of funds under quarterly review on behalf of the Parochial Church Council.
13