2022-12-31-accounts - The Parochial Church Council Of The Ecclesiastical Parish Of Chobham With Valley End

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Parochial Church Council of St Lawrence

Charity No. 1128846

Trustees' Report and Unaudited Accounts

31 December 2022

Parochial Church Council of St Lawrence Contents

	Pages
Trustees' Annual Report	2 to 7
Independent Examiner's Report	8
Statement of Financial Activities	9
Balance Sheet	10
Notes to the Accounts	11 to 19
Detailed Statement of Financial Activities	20 to 21

Page 1

Parochial Church Council of St Lawrence Trustees Annual Report

The trustees present their report with the unaudited financial statements of the charity for the year ended 31 December 2022.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1128846

Principal Office

St Lawrence Church 50 High Street Chobham, Surrey GU24 8AA

Trustees

The following trustees served during the year:

P. Baillie
G. Balister		Representative on the Deanery Synod
G. Barham	(Resigned 30 April 2022)	Church Warden
A. Bates		Treasurer
C.J. Bedford		Honorary Assistant Priest
S. Buchanan	(Resigned 2 November 2022)
R. Castle
E. Cook		Church Warden
C. Coulthard
P. Coulthard
C.R. Delacombe
J. Elliot
H. Holland		Chairman - Finance Committee
F. Milton
C. Money
P.D. Reed	(Resigned 30 April 2022)	Chairman - Fabric Committee
L. Scrivener		Representative on the Deanery Synod
L. Sealy		Representative on the Deanery Synod
D. Smiley	(Resigned 30 April 2022)
M. Stewart		Church Warden & Safeguarding Officer
D. Stork Banks		Incumbent
J. Stratford
C. Timms		PCC Secretary

External Accountants

Elizabeth Sanders Limited 25 Gordon Road Windsor Berkshire SL4 3RG

Bankers

Barclays Bank PLC

Page 2

Parochial Church Council of St Lawrence Trustees Annual Report

OBJECTIVES AND ACTIVITIES

Objectives and aims

St Lawrence Church Chobham with St Saviour Valley End PCC have the responsibility of co-operating with the incumbent, the Rev. Dan Stork Banks, in promoting the ecclesiastical parish with the whole mission of the Church, pastoral, evangelistic, social and ecumenical. They also have the responsibility for the maintenance of the Churches of St Lawrence in Chobham and St Saviour at Valley End.

ACHIEVEMENTS AND PERFORMANCE

The full PCC met five times during the year, 4 meetings were in the church hall and 1 meeting was by Zoom. Committees met between meetings and minutes of their deliberations were received by the full PCC and discussed when necessary. There are a stable number of 130 parishioners on the Church Electoral Roll.

In his management classic, Good to Great, Jim Collins gives leaders a powerful metaphor:

“Picture a huge flywheel—a massive, heavy metal disk mounted horizontally on an axle. Now imagine that your task is to get the flywheel rotating on the axle as fast and long as possible…Pushing with great effort, you get the flywheel to inch forward, moving almost imperceptibly at first. You keep pushing and, after two or three hours of persistent effort, you get the flywheel to complete one entire turn. You keep pushing, and the flywheel begins to move a bit faster, and with continued great effort…Then, at some

point—breakthrough! The momentum of the thing kicks in your favour, hurling the flywheel forward, turn after turn ... whoosh! ... its heavy weight working for you… Each turn of the flywheel builds upon work done earlier, compounding your investment of effort…Now suppose someone came along and asked, "What was the one big push that caused this thing to go so fast?" …Was it the first push?… The fifth? The hundredth? No! It was all of them added together in an overall accumulation of effort applied in a consistent direction.”

The image of the flywheel captures the essence of parish life since the pandemic. Heroic work has been undertaken by more members of our community than I can reasonably thank - but you know who you are and so does the Redeemer you serve.

The difficult choices we have made in previous years around worship, mission and infrastructure are the cogs turning the flywheel. Prayer is its lubricant. A blend of good PCC choices, your hard work and everyone's fervent prayer have made the breakthrough we long for, seem possible. We are not there yet, but progress builds faith, faith arouses hope, and hope fuels perseverance. These are exciting times.

The Church Development Plan (CDP) has been in place for twelve months and has led to developments in three areas:

Worship:

This is our primary vocation as a parish. The choirs we set up last year, one in each school, are firmly established as is our own children's choir, all singing at special services. These special services had depressingly collapsed during the pandemic but are not only back, but full of fresh ideas, excited volunteers and with as high (sometimes record-breaking) attendance figures.

Midweek communion is restored, Compline’s during Advent and Lent have been introduced, a Sunday evening bible study has started, and the mid-week bible study welcomes new families. We have enjoyed high-profile guest preachers who have taught us well, and our new liturgical resources are almost ready to be reviewed by the PCC. These will remove jarring elements, focus on beauty, and encourage greater lay inclusion, whilst retaining beloved prayers and propers, which carry us through the liturgical year. With splendid seasonal events thanks to our talented Director of Music, and new faces at Sunday morning services, we are thankful to God for His generous blessing.

Page 3

Parochial Church Council of St Lawrence Trustees Annual Report

Infrastructure:

New and younger members of our parish are taking-up vital positions within committees bringing fresh talent and energy. New committees have started such as the Worship Committee, Children and Families Committee, and the Church Development Plan Committee. This means we finally have comprehensive subcommittee coverage across all areas of parish life. We are introducing cashless giving and have contractors running our accounts and safeguarding. Whilst this has been a hard choice given the current state of parish finances, such roles have become so professionalized in recent years that many churches simply can no longer fill these positions with volunteers.

The PCC has helpfully withdrawn the four-year limit on Wardens, giving us more stability at the senior level. It is hard to convey the clergy time taken up by the unnecessary annual rotation of Wardens. Elaine Scawn has joined the team as a deputy Warden representing Valley End. A position I believe to be long overdue. Having worked closely with Elaine for the last three years, I am delighted. Indeed, the senior team is working very well with high levels of knowledge, dedication to transparency, loyalty to the CDP, and enjoying strong relationships with each other and with the wider congregation. We are very fortunate.

Our office has moved from the cold and unwelcoming north-west end of the nave to, what was called, “the crèche”, a warm and welcoming room for parish ministry. You will also be pleased to discover that the church hall finally has Wi-Fi, we have brought prices in line with market rates and bookings are slowly picking up having dropped off during lockdowns. Regrettably, we have been forced to turn the heat in church down during the day to save money.

Mission:

The Church Development Plan is committed to strengthening our existing relationship with our two schools. The children's Experience Christmas and Easter events continue to be a success and are now permanent fixtures of the liturgical year. We still provide high-quality governors to St. Lawrence School and Local Committee Members to Valley End School and are making measurable progress towards SIAMs inspections (focuses on the impact of the Church school's Christian vision on pupils and adults) plus formalizing each school's Christian Distinctiveness requirements. I remain on the committees of both schools which occupies a significant portion of my time but is worth it. For most of the children in our two Church of England schools, this will be the only experience of the Christian faith that they receive, so it is a big responsibility for the parish.

The weekly Parent & Toddler group proved immediately popular when re-started this year by volunteers. We are also providing ministry to Coxhill Manor, continuing the Hearing Clinic, supporting the Chobham Handbell Ringers and the St. Lawrence Bell Ringers, and hosting the wonderful Chobham Festival.

Pastorally we have built new relationships with hard-to-reach communities such as the Kalima Traveller community with some now receiving regular ministry. Finally, we are in partnership with local volunteers and the parish council to provide a Warm Hub three times a week, supporting those suffering from the rise in energy bills.

I have to be honest, many parishes are struggling financially, and we are no exception. If you listen to the news, you will know that these are difficult days for the Church of England in general and I am concerned. Nevertheless, if I am allowed a little pride in Lent, I am proud of everyone who serves this parish and I wish I could mention you all by name and the service you give. The flywheel is not yet spinning as fast as we would like, whereas in the past the flywheel took enormous effort, but thanks to the hard choices we have made, we are all noticing that it is spinning much faster. The progress this year will make it spin faster next year, so I prayerfully commend to you, this Parish Report.

Page 4

Parochial Church Council of St Lawrence

Trustees Annual Report

May I thank our army of volunteers from the deepest places of my soul and make a personal mention of my dear friend Rev. Chris Bedford (he calls me “Vicar Dan” and I call him “Father Chris”). We would not be where we are without him working quietly and loyally in the background for us all, and for the glory of God. He is like a ninja, just because you cannot see him, don’t presume he isn’t there!

In this parish the bible is believed, the gospel is proclaimed, and holiness is being restored despite the widespread trials and tribulations of the English church. Nevertheless, As I am writing this in Lent, I must confess to you my personal sins, struggles and weaknesses as your pastor and humbly ask your forgiveness for any mistakes I have made, or any hurt I might have unintentionally caused. We clergy are but sinful men and need God’s grace, and yours, more than most.

May Christ’s blessing be on every reader of this report.

FINANCIAL REVIEW

Regular giving, unrestricted donations, and rental income for 2022 was £93,857 (2021: £85,921). Income from church hall lettings and fees for services increased in 2022 to £15,538 (2021: £7,697). Investment income from flat rentals and dividends decreased to £28,413 in 2022 (2021: £40,778), mainly due to 1 of the flats being vacant for 4 months in 2022.

Expenditure on church activities at £162,297 for 2022 (2021: £139,823) is higher due to the full year cost of a Parish Co-ordinator and a Director of Music. Elizabeth Sanders as Consultant Accountant will now be taking over most of the bookkeeping and accounts work from the Hon. Treasurer on a paid basis going forward, with the 2022 cost of £914 (2023 will have a full year cost).

The largest expenditure for 2022 is the Parish Share at £91,207 (2021: £91,207). From this, the Diocese provides central support services, pays clergy stipends, funds the provision of clergy accommodation, and meets the costs of curates in training posts across the Diocese.

The net deficit for 2022 is £53,809 comparing to 2021 with a surplus of £27,945. The deficit is made up of 2 items; expenditure was £28,903 higher than income and a loss on the revaluation of investments was £24,906; for a total of £53,809 deficit.

The PCC continues to look for the best ways to maximise the benefits that can be achieved from its missionary work given the restricted amount of funds available.

Reserves Policy

The discretionary reserves have assigned £75,000 to cover six months of general expenditure in 2021. For 2022, this has been increased to £84,000.

The reserves have been restated, with the renaming the £84,000, which holds 6 months general expenditure, to a discretionary fund.

Currently the PCC holds £165,316 of unrestricted funds plus £84,000 of discretionary funds (to cover six months of general expenditure). In 2021, this figure was combined, ie £224,763 plus £75,000 for a total of £299,763.

Designated Funds:

Following the death of Sandra Bedford, monies raised by Sandra, mainly through the biannual flower festival were gifted to the church. This policy continues.

Page 5

Parochial Church Council of St Lawrence Trustees Annual Report

Restricted Funds

Flexlands School Memorial Fund:

Following the merger of Flexlands School with Coworth Park School, the parents and the governors of the original Flexlands School, which had strong ties with St Lawrence Church, had agreed to fund a memorial to the school within the confines of the church. The original donation of £2,400 has been invested in a separate deposit account, the current value being £2,875.

St Lawrence building fund (previously St Lawrence bell tower fund):

Following successful fund raising, the repairs to the bell tower were undertaken during 2019. The remaining surplus monies, the current value being £42,284, are held in a separate restricted fund to meet the cost of future building works at St Lawrence.

St Lawrence Friends Heritage Trust

During 2022, St Lawrence Friends Heritage Trust donated £10,721 to cover the cost of roof repairs at St Lawrence Church.

Investment property (Endowment Asset):

The freehold property, St Lawrence House (a block of 4 flats), is accounted for as an investment property, on the basis that, three of the flats are let on short term leases to third parties, charging commercial rents and there is no charitable element. The 4th flat is privately owned. The property is recorded at the 2015 market value. The title deeds for this property are held in the name of the Guildford Diocese Board of Finance (GDBF) as a custodial asset. However, custom and practice concerning historic transactions and standing instructions issued to the managing agents by the GDBF, means that the ultimate decision over the sale or granting of long leases on this asset resides with the Diocese as trustee and not the PCC. Consequently, the PCC feels that is correct to present this asset as an endowment asset and treat is as a restricted fund.

Uninsured losses fund:

The PCC continues to self-insure several items and accepts that it carries the risk of several policy excesses. The PCC considers that it has sufficient discretionary reserves to meet the risks. Any payments within the policy excess will be made from general funds.

Unrestricted funds

General fund:

Funds derived from normal giving less general expenditure resulted in a loss of £27,368 for the year ended 31 December 2022.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

St Lawrence Church is situated in Chobham, Surrey. It has an associated Church at St Saviour, Valley End, Surrey for which the Parochial Church Council ("PCC") of St Lawrence is responsible. Both Churches are part of the Diocese of Guildford within the Church of England.

The PCC is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council (Powers) Measure 1956 as amended and The church Representation Rules (contained in Schedule 3 to the Synodical Government Measure 1969 as amended). The PCC is registered as a charity with the Charity Commission. The method of appointment of PCC members is set out in the Church Representation Rules. All church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC.

Page 6

Parochial Church Council of St Lawrence Trustees Annual Report

Risk management

The PCC has a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

D. Stork Banks Trustee 12 April 2023

Page 7

Parochial Church Council of St Lawrence Independent Examiners Report

Independent Examiner's Report to the trustees of Parochial Church Council of St Lawrence

I report to the trustees on my examination of the financial statements of Parochial Church Council of St Lawrence for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.

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

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect:

the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of the financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Stephen Perry LLB (Hons) ACMA, CGMA FCII Chartered Management Accountant Knowle House 38 York Road

York Y024 4LZ

12 April 2023

Page 8

Parochial Church Council of St Lawrence Statement of Financial Activities

for the year ended 31 December 2022

Unrestricted funds	Restricted funds	Designated funds	Total funds	Total funds
2022	2022	2022	2022	2021
£	£	£	£	£

93,857	-	10,721	104,578	88,504
15,538	-	-	15,538	7,697
28,413	1,320	1	29,734	41,784
137,808	1,320	10,722	149,850	137,985

165,474	-	11,856	177,330	145,744
1,423	-	-	1,423	3,523
750	-	-	750	-
167,647	-	11,856	179,503	149,267
-	-	-	-	-
(29,839)	1,320	(1,134)	(29,653)	(11,282)
(9,000)	-	9,000	-	-
(38,839)	1,320	7,866	(29,653)	(11,282)

(21,233)	(3,673)	-	(24,906)	39,227
(60,072)	(2,353)	7,866	(54,559)	27,945

224,763	783,800	76,977	1,085,540	1,057,595
164,691	781,447	84,843	1,030,981	1,085,540

Page 9

Parochial Church Council of St Lawrence Balance Sheet

at 31 December 2022

at 31 December 2022
Charity No. 1128846		2022	2021
		£	£
Fixed assets
Tangible assets	9	14,972	17,235
Investments	10	998,546	1,038,452
		1,013,518	1,055,687
Current assets
Debtors	11	763	5,778
Investments	12	3,896	4,864
Cash at bank and in hand		18,150	22,989
		22,809	33,631
Creditors:Amount falling due within one year	13	(5,346)	(3,778)
Net current assets		17,463	29,853
Total assets less current liabilities		1,030,981	1,085,540
Net assets excluding pension asset or liability		1,030,981	1,085,540
Total net assets		1,030,981	1,085,540
The funds of the charity
Restricted funds	14
Restricted funds		781,447	783,800
		781,447	783,800
Unrestricted funds	14
General funds		164,565	224,763
Designated funds		84,969	76,977
		249,534	301,740
Reserves	14
Total funds		1,030,981	1,085,540

Approved by the trustees on 12 April 2023

And signed on their behalf by:

D. Stork Banks Trustee 12 April 2023

Page 10

Parochial Church Council of St Lawrence Notes to the Accounts

for the year ended 31 December 2022

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 11

Parochial Church Council of St Lawrence Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.

Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.

Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Audio visual & office 3-5 years, Straight line equipment Communion plate & silver 20 years, Straight line

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Page 12

Parochial Church Council of St Lawrence Notes to the Accounts

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Restricted funds £ 2,583 - 1,006	Designated funds £ - - -	Total funds £ 88,504 7,697 41,784
3,589 2,583 -	- 703 -	137,985 145,744 3,523
2,583	703	149,267
1,006	(703)	(11,282)
1,006 4,286	(703) -	(11,282) 39,227
5,292	(703)	27,945
5,292	(703)	27,945

Page 13

Parochial Church Council of St Lawrence

Notes to the Accounts

3 Income from donations and legacies

Designated funds £	Total 2022 £ 48,586 5,432 9,615 2,020 13,880 25,045	Total 2021 £ 45,006 3,963 4,874 13,961 14,437 6,263
-
-
-
-
-
10,721
10,721	104,578	88,504
Unrestricted funds £	Total 2022 £ 1,388 14,150	Total 2021 £ 555 7,142
1,388
14,150
15,538	15,538	7,697
Designated funds £ - 1	Total 2022 £ 25,813 3,921	Total 2021 £ 38,734 3,050
1	29,734	41,784

Page 14

Parochial Church Council of St Lawrence

Notes to the Accounts

6 Expenditure on church activities

Designated funds £ 10,721 - - - - - - 1,135 - - - - -	Total 2022 £ 20,795 5,531 91,207 6,299 17,300 7,694 6,009 1,135 717 344 17,122 2,263 914	Total 2021 £ 12,998 5,343 91,207 3,111 4,735 5,268 6,070 703 1,652 287 11,734 2,636 -
11,856	177,330	145,744
Unrestricted funds £ 1,423	Total 2022 £ 1,423	Total 2021 £ 3,523
1,423	1,423	3,523

The church has no employees.

Page 15

Parochial Church Council of St Lawrence Notes to the Accounts

9 Tangible fixed assets

Cost At 1 January 2022 At 31 December 2022 Depreciation and impairment At 1 January 2022 Depreciation charge for the year At 31 December 2022 Net book values At 31 December 2022 At 31 December 2021 10 Investments At 1 January 2022 Revaluation Disposals At 31 December 2022 Net book values At 31 December 2022 At 31 December 2021	Audio visual & office equipment	Communion plate & silver	Total £ 45,427
	£ 22,043	£ 23,384
	22,043	23,384	45,427
	20,116 1,094	8,076 1,169	28,192 2,263
	21,210	9,245	30,455
	833	14,139	14,972
	1,927	15,308	17,235
	Investments - CBF Capital Accumulation Units £ 192,319 (13,886) (15,000)	Investments - COIF Charity Fund Units £ 106,133 (11,020) -	Total £ 1,038,452 (24,906) (15,000)
	163,433	95,113	998,546
	163,433	95,113	998,546
	192,319	106,133	1,038,452


Investment property relates to three flats in St Lawrence House, Chobham, which are all let on commercial terms. The flats were revalued in 2015. The 5 yearly revaluation is not a requirement for the PCC but they will revalue by the end of 2025. The title deeds for this property are held in the name of the Guildford Diocese Board of Finance (GDBF) as a custodial asset. However, custom and practice concerning historic transactions and standing instructions issued to the managing agents by the GDBF, means that the ultimate decision over the sale or granting of long leases on this asset resides with the Diocese as trustee and not the PCC.

Investments are recorded at market value at 31st December. Any gains or losses from revaluation are reflected in the Statement of Financial Activities.

Page 16

Parochial Church Council of St Lawrence Notes to the Accounts

11 Debtors

11 Debtors
Other debtors 12 Current asset investments CBF - Deposit account - St Lawrence CBF - Deposit account - Flexlands School Memorial Barclays - Deposit Account - Flower Fund 13 Creditors: amounts falling due within one year Trade creditors	2022 £ 763 763 2022 £ 51 2,875 970 3,896 2022 £ 5,346 5,346	2021 £ 5,778
		5,778
		2021 £ 51 2,836 1,977
		4,864
		2021 £ 3,778
		3,778

Page 17

Parochial Church Council of St Lawrence Notes to the Accounts

14 Movement in funds

Movement in funds
	Balance at 1 January 2022 740,000 40,964 2,836 783,800 224,763 75,000 1,977 - 76,977 1,085,540	Incoming resources (including other gains/losses) £ - (2,353) - (2,353) 116,575 - 1 10,721 10,722 124,944	Resources expended £	Gross transfers £	Balance at 31 December 2022 £ 740,000 38,611 2,836
Restricted funds: Restricted income funds: Investment property St Lawrence building Flexlands School Memorial Total Unrestricted funds: General funds Designated funds: General fund - reserves Flower fund St Lawrence Friends Heritage Trust Total Total funds
			-	-
			-	-
			-	-

			-	-	781,447
					164,565 84,000 969 -
			(167,773)	(9,000)

			-	9,000
			(1,009)	-
			(10,721)	-
			(11,730)	9,000	84,969

			(179,503)	-	1,030,981

Purposes and restrictions in relation to the funds:

Restricted funds: Investment property St Lawrence building Flexlands School Memorial

Designated funds: General fund - reserves The PCC's policy is to maintain a minimum level of investments to cover the equivalent of six months general expenditure, which based on the current year's expenditure, would equate to £84,000. Flower fund Following the death of Sandra Bedford, monies raised by Sandra mainly through the biannual flower festival were gifted to the church.

St Lawrence Friends Heritage Trust

Page 18

Parochial Church Council of St Lawrence Notes to the Accounts

15 Analysis of net assets between funds

Analysis of net assets between funds
Fixed assets	Unrestricted funds £ 14,972	Restricted funds £ -	Designated funds £ -	Total £ 14,972
Investments	142,841	771,705	84,000	998,546
Net current assets	6,751 164,564	9,742	970	17,463
		781,447	84,970	1,030,981

16 Reconciliation of net debt

Reconciliation of net debt
Cash and cash equivalents Net debt	At 1 January 2022 £	Cash flows £	At 31 December 2022 £
	22,989	(4,839)	18,150
	22,989	(4,839)	18,150
	22,989	(4,839)	18,150

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Parochial Church Council of St Lawrence Detailed Statement of Financial Activities

for the year ended 31 December 2022

Restricted funds 2022 £ - - - - - -	Designated funds 2022 £ - - - - - 10,721	Total funds 2021 £ 45,006 3,963 4,874 13,961 14,437 6,263
-	10,721	88,504
- -	- -	555 7,142
-	-	7,697
- 1,320	- 1	38,734 3,050
1,320	1	41,784
1,320 - - - - - - - - - - - - -	10,722 10,721 - - - - - - 1,135 - - - - -	137,985 12,998 5,343 91,207 3,111 4,735 5,268 6,070 703 1,652 287 11,734 2,636 -
-	11,856	145,744

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Parochial Church Council of St Lawrence Detailed Statement of Financial Activities

- -	11,856 -	145,744 3,523
-	-	3,523
-	-	-
-	-	-
- - -	- 11,856	- 149,267 -
	-

1,320	(1,134)	(11,282) -
-	9,000

1,320 (3,673)	7,866 - -	(11,282) 39,227 -
-

(2,353)	7,866	27,945
		1,057,595
783,800	76,977

781,447	84,843	1,085,540

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