Charity registration number 1128844 

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 



## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE 

## LEGAL AND ADMINISTRATIVE INFORMATION 

Trustees Mrs E Tooze Mrs J M Luton Mrs P Woodroffe Mr E Butterley Mr P C Taylor MrA P Leyland Mrs R Backhouse Mrs LA Marrow Mrs A Wood Rev MM Slyfield Miss J Hulme Mr R Gawel Mrs C Fell Mrs K Barton Mrs H Everatt Mrs J E Parker Mrs M R Overton Mrs M Davies Rev L England Ms L Baldry Dr R Beck Rev C Hubbard Mrs E Haggis Mrs M Matthews Mr J Wallace Mrs A Warneford MrALaw — (Appointed 10 May 2022) Mr P Cartledge (Appointed 10 May 2022) Charity number 1128844 Principal address 29 Bath Road Buxton Derbyshire SK17 6HJ Independent examiner PKF Smith Cooper Limited 7 Compton Street Ashbourne Derbyshire United Kingdom DE6 1BX 



THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE 

## CONTENTS 


**----- Start of picture text -----**<br>
Page<br>Trustees’ report 1-7<br>Independent examiner's report 8<br>**----- End of picture text -----**<br>



**----- Start of picture text -----**<br>
Statement of financial activities 9-10<br>Balance sheet 11<br>**----- End of picture text -----**<br>


Notes to the financial statements 12-21 



## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE 

## TRUSTEES’ REPORT 

## FOR THE YEAR ENDED 31 DECEMBER 2022 

The Trustees present their annual report and financial statements for the year ended 31 December 2022. 

The accounts have been prepared in accordance with the accounting policies set out in note’ to the accounts and comply with the Charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016) 

## Objectives and activities 

The Charity's objects are bringing people to faith and faith to people. 

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. 

## Achievements and performance 

2022 — a year of recovery 

The year began with a return to normal life across the parish, with the churches re-opening and parish events and activities resuming. 

Everyone was grateful for the care and support provided by the Team Rector, Curate, non-stipendiary and retired clergy, lay reader and worship leaders during the pandemic and its aftermath. We said thank you to John Wood on his retirement as lay reader and also celebrated his 91* birthday. 

Outreach was a particular focus during the year, with activities such as the regular Pizza Party and Table Tennis Club for young adults proving very successful, while an ecumenical Easter Chick hunt in the Pavilion Gardens reached over 700 people. 

Although the parish felt a sense of renewal and hope at the start of 2022, the invasion of Ukraine in February soon brought additional pressures. The cost of living crisis and soaring energy bills affected individuals, families and our churches. Many parishioners gave generously to the Ukraine Appeal and to food banks, while continuing to support the parish through their regular giving. The parish also secured a grant to set up a weekly ‘warm place’ for local people, offering free hot drinks, food and social activities. 

Inevitably, rising costs have affected everyone, and a PCC Finance Away Day in November 2022 considered some of the challenges the parish faced and looked at possible solutions and priorities. 

Looking ahead, the parish Fundraising and Financial Management teams will work with the PCC to manage resources prudently, reduce costs and identify ways to increase both regular and occasional giving. The PCC is very grateful to everyone who supports the parish, whether that is financially, with their time or talents. 

atic 



## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 

## Financial review 

## Financial overview 

In 2022, the parish saw its overall income rise to £161,167, up from £146,269 in 2021. Collections increased to £19,196 (£13,689 in 2021) and there was a rise in contributions by standing order to £40,410 (£38,914 in 2021). Fees were £24,051 (£14,528 in 2021), as weddings and funerals were once again able to be held in churches. Lettings also increased to £26,450 from £15,640 in 2021. 

The lifting of the lockdown restrictions and a decrease in Covid-19 cases was a significant boost for fundraising activities, which raised £6,857 (£1,058 in 2021). 

However, the cost of living crisis and the impact of significant energy price rises had a very unwelcome effect on parish resources. Gas and electricity costs totalled £28,827 (£10,665 in 2021), an increase of 170%. Other expenses such as insurance and cleaning also increased, while church maintenance costs were £9,374 (£5,409 in 2021). Expenditure for the year totalled £180,427, compared with £145,822 in 2021. 

The central costs of running the parish were £26,718, an increase from the previous year's figure of £20,414. These costs were shared between the six churches in the same proportion as the Common Fund payment. 

The parish did not pay in full its Common Fund request to the Diocese, paying £48,918 out of the total of £80,356 requested. After very carefully considering the financial position and reserves of the parish, the PCC made the decision to pay 50% of the requested Common Fund each month. It was also agreed that two thirds of any quarterly surplus would be paid in addition to this, up to the maximum of the Common Fund amount requested. The PCC has also designated £90,000 for future church fabric repairs and development. 

The parish's overall financial position at the end of the year was a deficit of £19,260, compared with a surplus of £447 in 2021. 

## St John’s 

The church had net surplus of £4,548 compared with net expenditure of £15,548 in 2021. The difference is a result of the church being able to raise funds again, which had been prevented by the social distancing rules. 

The average congregation has remained steady at 41, partly because new members took the place of several older or more frail members who have not reappeared since the pandemic. 

The congregation was still led by churchwardens Jean Luton and Dr Roger Beck. The church was closed only when a Parish Service was being held elsewhere in the parish. In addition to regular worship, during the year the church held three weddings, one marriage blessing, four baptisms, six funerals, one memorial service and one burial of ashes. 

Buxton International Festival as usual added considerably to the income of the church, and St John’s also benefitted by welcoming other visiting choirs. The church is grateful to the Buxton Musical Society for their continuing and much appreciated support. 

The church has continued to invest in infrastructure by installing a metal handrail on the steps to the West Door from St John’s Road. More work will be needed on the outside lighting, including the floodlights. The enhanced lighting for the choir stails is still planned: this will be advertised during the Festival in the hope of donations from the hundreds of visitors. Card readers have been donated to equip us for the new cashless society and we are confident that they will become a regular part of St. John’s. 

Jel 



## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE 

## TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 

## St Anne’s 

During 2022, the church continued to have services of Holy Communion each Wednesday. We have a small, but dedicated congregation that has increased in number during the year. 

In addition to regular worship, the church held one wedding, one baptism and one funeral. St Anne's had net expenditure of £6,511 in 2022, compared with net surplus of £7,519 in 2021, 

The church congregation is now led, for the first time in many years, by two churchwardens, Andrew Law and Philip Leyland. 

In July the church celebrated the return of its Flower Festival and attracted record numbers of visitors, who enjoyed the displays and the peace and calm of the church. 

With the help of a professional gardener and volunteers, work commenced on a project to restore the graveyards of the church so that visitors can enjoy the wildflower borders and screening trees. 

In September the church opened a Book of Condolence for Her Majesty Queen Elizabeth Il, following her sad passing. Again the church was visited by people, many for the first time. Some spent time in the church, with their own thoughts and prayers. 

On the day before Christmas, we had a special service, which attracted a large congregation and there was music and joyful singing for the first time in over three years in the church. It was a lovely way to prepare for Christmas. 

In 2023, we will continue to reach out to all who come to our lovely church and hope they find and witness the joy and spiritual peace of St Anne's. 

## St Mary’s 

The weekly service pattern at St Mary's resumed during 2022, and this included the successful move of the online Jigsaw Church into a monthly informal service led by congregation members. St Mary’s continued to attract new members, and average attendances also started returning to pre-pandemic levels. 

During the year, in addition to regular worship, the church held four weddings, 12 baptisms, 14 funerals and 11 burials of ashes. In August, the Bishop of Derby preached at the St Mary's patronal service, and the church also held parish services for Ash Wednesday and All Souls. 

There was a welcome return for the annual Garden Party in June and the church hosted Buxton Festival Fringe concerts and plays during July. The Folk Caro! Concert in December was a wonderful highlight in the run up to Christmas, attracting a record audience and raising over £300 for the local foodbank. 

Social events and lettings helped to raise funds for St Mary's, which enabled improvements including the installation of wifi. The churchwardens Eric Butterley and Jill Hulme were very grateful to the Bingham Trust for its generous grant of £5,000 for removing asbestos which was discovered during work in the church cellar. 

St Mary's had net expenditure of £3,818 in 2022, compared with net surplus of £993 in 2021. 

Looking ahead, the church is developing plans to install kitchen facilities and new accessible toilets, and to invest in a new sound system for the church. Native hedge planting has enhanced the church grounds, and extending the Memorial Garden will be a priority for 2023. 

aFc 



## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE 

## TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 

## Christ Church Burbage 

Brekkie church continues to attract new families and provides an alternative to the formal communion services. Thank you to those who prepare the craft activity, provide the music and of course the breakfast. 

During the year, in addition to regular worship, the church held one wedding, three baptisms, nine funerals and one memorial service plus 11 burials of ashes. The church had net surplus of £587 in 2022, compared with net surplus of £18,434 in 2021. 

As part of our meet up mission plans, a faculty was applied for to remove pews from the north side to give space for a coffee/social area. This was expected to happen by March 2023. 

Social events included the Snowdrop Tea, two coffee mornings and the Christmas Fair. All were well supported by the local community and raised much needed funds. 

The churchyard working parties continued monthly and keep the churchyard weeded, free from litter and generally tidy. Many people visit weekly to tend graves and appreciate this. Our letter asking for a donation for upkeep of the churchyard and the memorial lights fundraising are well supported. 

The lightning conductor was repaired in May and the annual roof/gutters maintenance done in December. No progress has been made on the driveway this year because of planning delays and the clock awaits a major repair and upgrade when we can find some grant money. 

The churchwardens Maggie Davies and Anne Wood are very grateful to all who support Christ Church Burbage church in so many ways. 

## St James 

The church continued to run regular bi-monthly services and these were often joined by the local Methodist congregation who showed their support. During the year, in addition to regular worship, the church held one wedding, four baptisms and three funerals. 

St James is in a poor state of repair, mainly due to the effects of weathering and original building deficiencies. In April 2022, a public consultation was held over two days with the local community to listen to their needs and wishes and 121 people attended. There was overwhelming support for creating a community space that could also function as a church. The St James Community Team was set up to take this new vision forward; this began with a small, but skilled, group of five who met three times. In the New Year we aim to invite the next set of volunteers to take us on to a further stage of the build. The diocese building and faculty team have been supporting the team throughout. 

Unfortunately, the damp continued to negatively affect some of the church items and so the decision was made to temporarily close the church doors in the winter of 2022 and make plans to move these items out of the church, until the new Church and community centre is built. A Thanksgiving and Blessing service will be held for St James in February 2023. 

The church had net expenditure of £6,279 in 2022, compared with net expenditure of £2,052 in 2021. 

=a 



## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE 

## TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 

## Christ the King, King Sterndale 

The church had net expenditure of £3,966 in 2022, compared with net expenditure of £3,573 in 2021. The church is led by churchwardens, Hazel Everatt and Paul Taylor. The average attendance of the Sunday congregation is 12. itis open daily during daylight hours for private prayer. 

2022 has been a year to recover from the disruption caused by the covid epidemic, and to that extent we have averaged just over two services a month, generally one all age family service and one communion service. In addition to these services, we have had a number of first Sunday of the Month Activity Church services. We had three months in which we only had one service. 

Activity church was run 10 times in 2022, on the first Sunday of every month with none taking place in Jan and Aug. Attendance varied between 7 and 23, with an average of 12 across the year. A total of 5 different families attended throughout the year and new families are continuing to find us on social media. Going forward, we need to continue to advertise effectively on facebook and encourage more people to get involved in the running and organisation. 

During the year, in addition to regular worship, the church held one wedding, three baptisms, three funerals and two burials with no service in church. 

King Sterndale held a Remembrance service at the war memorial in the church grounds to remember the lives lost from the community and also those who fought to protect our freedom. 

## King Sterndale Hall 

Community events resumed after the pandemic lockdown, including the popular afternoon tea for visitors who came to the Snowdrop Days at King Sterndale in February. The Tuesday evening Pilates group and Activity Church also use the Hall. 

The hall had net expenditure of £209 in 2022, compared with net expenditure of £385 in 2021. 

## Bath Road Centre 

The Centre has had a busy year, with most of the regular hirers returning to their full hiring hours. In the summer the hall redecorated and it's now much brighter and fresher. In 2023 we hope to replace the fridge and worn carpet 

Philip Leyland had a lengthy job to convince Johnnie Johnson Housing to repair the damage to the hall ceiling, caused by water leaking from the flat roof. He was finally successful, so it is all water-tight. Thanks are due to Philip for his perseverance. 

We are also very grateful to Parish Administrator Jennie Parker, who does an excellent job looking after the Centre, and to everyone who uses it. Due to family commitments, Jennie cut back her hours as Parish Administrator at the year-end, and the PCC will look at options for managing the Centre. 

The Centre had net expenditure of £2,671 in 2022, compared with expenditure of £4,883 in 2021. 

The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. 



# THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE 

## TRUSTEES' REPORT (CONTINUED) 

## FOR THE YEAR ENDED 31 DECEMBER 2022 

## Structure, governance and management 

The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. 

## Reserves policy 

Reserves are required to be held to maintain levels of current activity, to respond to short-term emergency expenditure or shortfalls in income, and to respond promptly to future opportunities in support of the Parish’s mission. Our policy is to keep free reserves equating to at least six months’ ordinary expenditure, including an allowance for Common Fund liabilities over that period. Where appropriate, the PCC will also consider the designation of funds for specific future fabric repairs and development. The parish reserves do not include any sums towards the rebuilding of St James; a separate designated fund will be created for this project. 

The Trustees who served during the year and up to the date of signature of the financial statements were: Mrs E Tooze Mrs J M Luton Mrs P Woodroffe Mr E Butterley Mr P C Taylor Mr A P Leyland Mrs R Backhouse Mrs L A Marrow Mrs A Wood Rev MM Slyfield Miss J Hulme Mr R Gawel Mrs C Fell Mrs K Barton Mrs H Everatt Mrs J E Parker Mrs M R Overton Mrs M Davies Rev L England Ms L Baldry Dr R Beck Rev C Hubbard Mrs E Haggis Mrs M Matthews Mr J Wallace Mrs A Warneford MrA Law (Appointed 10 May 2022) Mr P Cartledge (Appointed 10 May 2022) 

All trustees are appointed at the Annual General Meeting. 

-6- 



## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE 

## TRUSTEES' REPORT (CONTINUED) 

## FOR THE YEAR ENDED 31 DECEMBER 2022 

## The People Involved 

During 2022, the full PCC was pleased to be able to meet again in person. Financial updates were given by the Treasurer at each meeting and copies of the quarterly accounts were distributed to the Trustees during the year. 

The parish is blessed to have a willing and active team of volunteers who support the ministry team, PCC and parish finance and admin staff. Together, we are working towards growing the kingdom of God in our community. 

Special thanks must go to Philip Leyland, who stood down as Parish Treasurer on 31 December 2022. Philip gave 11 years of dedicated service to the parish and we are very grateful for his financial management and stewardship. 

Philip was supported by the individual church treasurers and churchwardens, and by the very hard working and experienced team of Rosie Shipley, Finance Assistant, and Jennie Parker, Parish Administrator. They continue to play a very significant part in the smooth running of the parish. Additional help was provided by the team that took responsibility for managing the VAT and Gift Aid recovery processes: lan Armett, Robin Cundill and Eric Thompson. 

So many other people have also given their time and talents in prayer, worship, mission and outreach, fundraising, administration, safeguarding, maintenance, gardening, cleaning, providing refreshments and supporting one another in service across our parish. 

## The Data 

The 2022 Financial Statements were presented to the PCC at its meeting on 20 April 2023. The PCC recommended that the reports be presented for approval at its AGM on 23 May 2023, following published copies in draft form having been displayed in all churches for at least 14 days prior to the AGM. As St James remained closed due to being in a poor state of repair, a notice indicated that the report was available to view at the Parish Office. 

The Trustees’ report was approved by the Board of Trustees. 


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## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE 

## INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE 

| report to the Trustees on my examination of the financial statements of The Parochial Church Council of the Ecclesiastical Parish of Buxton with Burbage and King Sterndale (the Charity) for the year ended 31 December 2022. 

## Responsibilities and basis of report 

As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). 

| report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

## independent examiner's statement 

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. 

| understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. 

1 have completed my examination. 

| confirm that no 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 2011 Act: or 

- 2 the financial statements do not accord with those records; or 

- 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 

| have no concems 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 financial statements to be reached. 

## PKF Smith Cooper Limited 

7 Compton Street Ashbourne Derbyshire DE6 1BX United Kingdom 

Dated: 18 April 2023 

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## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE 

## BALANCE SHEET 

## AS AT 31 DECEMBER 2022 


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|||||||||
|---|---|---|---|---|---|---|---|
|2022|2021|
|Notes|£|£|£|£|
|Fixed|assets|
|Tangible|assets|11|8,867|13,780|
|Investments|12|33,474|37,915|
|42,341|51,695|
|Current|assets|
|Cash|at|bank|and|in|hand|272,011|278,419|
|Creditors:|amounts|falling|due|within|
|one|year|13|(10,383)|(6,885)|
|Net|current|assets|261,628|271,534|
|Total|assets|less|current|liabilities|303,969|323,229|
|Capital|funds|
|Endowment|funds|-|general|14|1,086|1,086|
|Income|funds|
|Restricted|funds|15|81,927|86,940|
|Unrestricted|funds|
|Designated|funds|16|90,000|<|
|General|unrestricted|funds|130,956|235,202|
|220,956|235,203|
|303,969|323,229|
|The accounts were approved|by|the Trustees on 23|5|2093|
|sgli|biccentetetbasesascactess|—————|seeereeeeMeneeyfed|A|/|
|oorustee|RevChair L|of§nglaTrugtees|

**----- End of picture text -----**<br>


mat fe We 



## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE 

## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 

## 1 Accounting policies 

## Charity information 

The Parochial Church Council of the Ecclesiastical Parish of Buxton is a charity controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. 

1.1. Accounting convention The accounts have been prepared in accordance with the Charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The Charity is a Public Benefit Entity as defined by FRS 102. 

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

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

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

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below. 

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

1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity. 

- 1.4 Incoming resources Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. 

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

o 42. 



## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE 

## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 

1 Accounting policies 

## (Continued) 

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. 

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 

## 1.5 Tangible fixed assets 

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

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

Plant and equipment 20% Straight line Church fixtures and fittings 25% Straight line Office equipment 20% Straight line 

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

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

- 1.7 Impairment of fixed assets 

At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.8 Cash and cash equivalents 

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

= 43 



## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE 

## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 

## 1 Accounting policies 

## (Continued) 

- 1.9 Financial instruments 

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

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

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

## Basic financial assets 

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

## Basic financial liabilities 

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

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

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

## Derecognition of financial liabilities 

Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or cancelled. 

## 1.10 Employee benefits 

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

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

## 1.11 Retirement benefits 

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

-14- 



## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE 

## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 

## FOR THE YEAR ENDED 31 DECEMBER 2022 

## 2 Donations and legacies 


**----- Start of picture text -----**<br>
||||||||||
|---|---|---|---|---|---|---|---|---|
|Unrestricted|Restricted|Total|Total|
|funds|funds|2022|2021|
|£|£|£|£|
|Regular|giving|40,410|-|40,410|38,914|
|Grants|19,020|-|19,020|500|
|Sundry donations|8,896|1,000|9,896|13,726|
|Gift|aid|13,600|-|13,600|11,332|
|Collections|19,296|-|19,296|13,689|
|Gift days|-|-|-|40|
|Appeals|and|donations|2,707|-|2,707|30,596|
|103,929|1,000|104,929|108,797|
|For|the|year ended|31|December|2021|108,797|-|108,797|

**----- End of picture text -----**<br>


## 3 Charitable activities 


**----- Start of picture text -----**<br>
||||||
|---|---|---|---|---|
|Charitable|Charitable|
|Income|Income|
|2022|2021|
|£|£|
|Fundraising|events|6,857|1,058|
|Lettings|of church|properties|26,450|15,640|
|Fees|24,051|14,528|
|Sundry|income|363|344|
|Other|income|610|=|
|58,331|31,570|

**----- End of picture text -----**<br>


## 4 Investments 


**----- Start of picture text -----**<br>
||||||||||
|---|---|---|---|---|---|---|---|---|
|Unrestricted|Restricted|Total|Total|
|funds|funds|2022|2021|
|£|£|£|£|
|Dividends|and|interest|2,255|94|2,349|1,138|
|For the|year|ended|31|December|2021|1,138|-|1,138|

**----- End of picture text -----**<br>


-15- 



## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE 

## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 

## 5 Raising funds 

|||Unrestricted|Total|
|---|---|---|---|
|||funds||
|||2022|2021|
|||£|E|
||Fundraising and publicity|||
||Cost offund raising events|597|54|
|||597|54|
|6|Charitable activities|||
|||Charitable|Charitable|
|||Expenditure|Expenditure|
|||2022|2021|
|||£|£|
||Staff Costs|19,238|17,517|
||Common fund|48,918|38,956|
||Clergy expenses|878|1,213|
||Church running expenses|40,778|21,168|
||Church maintenance|36,427|36,419|
||Church hall costs|8,200|4,678|
||Provisions forworship|1,968|1,154|
||Organists and vergers|95|219|
||Outreach and youth work|15|44|
||Honorarium|4,330|1,555|
||Missions and Charities|2,448|1,435|
|||163,295|124,358|
|||163,295|124,358|
||Analysis byfund|||
||Unrestricted funds|157,188|114,091|
||Restricted funds|6,107|10,267|
|||163,295|124,358|
||For the year ended 31 December2021|||
||Unrestricted funds|114,091||
||Restricted funds|10,267||
|||124,358||



-16- 



## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE 

## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 

## 7 Trustees 

Remuneration of £13,546 (2021: £12,870) and pension contributions of £727 (2021: £663) were paid in respect of Mrs J Parker, a trustee solely for her work as the parish's administrator. 

The trustees Rev England & Rev Slyfield were reimbursed a total of £2,002 for expenses in relation to their duties as clergy of the parish (2021: £1,904). 

## 8 Employees 

## Number of employees 

The average monthly number of employees during the year was: 

||Number of employeesemployees<br>The average monthly number of employeesemployees during the year was:|||
|---|---|---|---|
|||2022|2021|
|||Number|Number|
|||2|2|
||Employment costs|2022|2021|
|||£|£|
||Trustees’ salaries|13,546|12,870|
||Staffsalaries|2,963|2,080|
||Trustees’ pensions paid|727|663|
||Trustees' expenses|2,002|1,904|
|||19,238|17,517|
||No employees received emoluments in excess of£60,000.|||
|9|Other|||



||2022|2021|
|---|---|---|
||£|£|
|Depreciation|4,911|10,361|
|Bank charges|66|8|
|Telephone and postage|1,255|883|
|Printing and stationery<br>Advertising<br>Sundries|2,364<br>38<br>4,401|4,677<br>1,102<br>1,697|
|Accountancy|3,500|5,682|
||16,535|21,410|



« Fie 



## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE 

## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 

## 10 Net gains/(losses) on investments 


**----- Start of picture text -----**<br>
||||||
|---|---|---|---|---|
|Unrestricted|Total|
|funds|
|2022|2021|
|£|£|
|Revaluation|of|investments|(4,442)|4,764|

**----- End of picture text -----**<br>


11 Tangible fixed assets 


**----- Start of picture text -----**<br>
||||||||||
|---|---|---|---|---|---|---|---|---|
|Plant and|Church|Office|Total|
|equipment|fixtures|and|equipment|
|fittings|
|£|£|£|£|
|Cost|
|At|1|January|2022|6,917|43,501|8,553|58,971|
|At|31|December|2022|6,917|43,501|8,553|58,971|
|Depreciation|and|impairment|
|At|1|January|2022|2,686|36,567|5,939|45,192|
|Depreciation|charged|in|the|year|1,156|2,595|1,161|4,912|
|At|31|December|2022|3,842|39,162|7,100|50,104|
|Carrying|amount|
|At|31|December|2022|3,075|4,339|1,453|8,867|
|At|31|December|2021|4,231|6,935|2,614|13,780|

**----- End of picture text -----**<br>


## 12 Fixed asset investments 


**----- Start of picture text -----**<br>
||||||
|---|---|---|---|---|
|Listed|
|investments|
|£|
|Cost|or|valuation|
|At|1|January|2022|37,915|
|Valuation|changes|(4,441)|
|At|31|December|2022|33,474|
|Carrying|amount|
|At|31|December|2022|33,474|
|At|31|December|2021|37,915|

**----- End of picture text -----**<br>


«48. 



## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE 

## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 

## FOR THE YEAR ENDED 31 DECEMBER 2022 

## 12 Fixed asset investments 

(Continued) 

## 13 Creditors: amounts falling due within one year 

|||2022|2021|
|---|---|---|---|
|||£|£|
|Trade|creditors|2,844|2,791|
|Other|creditors|7,539|4,094|
|||10,383|6,885|



14 Endowment funds 

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

|||Movement|in funds||
|---|---|---|---|---|
||Balance at1|Incoming|Resources|Balance at 31|
||January|resources|expendedDecember 2022||
||2022||||
||£|£|£|£|
|Permanent endowments|||||
|St John's endownment|313|-|-|313|
|Burbage graveyard endowment|773|-|-|773|
||1,086|-|-|1,086|



-19- 



## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE 

## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 

## 15 Restricted funds 

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: 

|||Movement in funds|Movement in funds||
|---|---|---|---|---|
||Balance at|Incoming|Resources|Balance at|
||4 January 2022|resources|expended|31 December|
|||||2022|
||£|£|£|£|
|St Johns Music|545|-|-|§45|
|StAnne's fabric|2,606|-|(1,412)|1,194|
|Christ Church Burbage fabric|3,189|-|(1,762)|1,427|
|StJames' fabric|9,172|-|(1,319)|7,853|
|ChristChurch King Sterndale fabric|7,731|-|(1,182)|6,549|
|Christ Church King Sterndale churchyard|236|-|(236)|-|
|ChristChurch King Sterndale youth work|170|-|-|170|
|Outreach|371|-|(15)|356|
|World War One commemoration|51|-|-|51|
|Burbage Graveyard|237|1,000|(181)|1,056|
|St Marys - Nadin Legacy Funds|62,632|94|:|62,726|
||86,940|1,094|(6,107)|81,927|



## 16 Designated funds 

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes: 

|||||||Movement||Movement||
|---|---|---|---|---|---|---|---|---|---|
|||||||in funds||in funds||
|||||||Incoming|Balance at|Incoming|Balance at|
|||||||resources!|January 2022|resources|31 December|
||||||||||2022|
|||||||£|£|£|£|
|Future|Church|Fabric|Repairs|&|Development|-|-|90,000|90,000|
|||||||-|-|90,000|90,000|



-20- 



## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE 

## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 

## 17 Analysis of net assets between funds 

||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|
||funds|funds|funds|||
||2022|2022|2022|2022|2021|
||£|£|£|£|£|
|Fund balances at 31 December||||||
|2022 are represented by:||||||
|Tangible assets|8,867|-|-|8,867|13,780|
|Investments|33,474|-|-|33,474|37,915|
|Current assets/(liabilities)|178,615|81,927|1,086|261,628|271,534|
||220,956|81,927|1,086|303,969|323,229|



## 18 Related party transactions 

There were no disclosable related party transactions during the year (2021 - none). 

«Fi