**Charity Registration number - 1128854**
**THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY OF CHARITY, FAVERSHAM KENT**
**PCC REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2023**
**THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY OF CHARITY, FAVERSHAM KENT YEAR ENDED 31 DECEMBER 2023 CONTENTS**
||**Page**|
|---|---|
|Legal and Administrative Information|1-2|
|Trustees' Report|3-4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Accounts|8-13|
**THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY OF CHARITY, FAVERSHAM, KENT**
Page 1
## **LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Incumbent and Vicar of the Benefice of Faversham**
The Revd Simon Rowlands The Vicarage 16 Newton Road Faversham Kent ME13 8DY
## **Banks**
CAF (Charities Aid Foundation) 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4TA
NatWest Bank
Santander UK Plc BBAM Bridle Road, Bootle, Merseyside, LG30 4GB
CCLA Investment Management Limited The CBF Church of England Funds Senator House, Victoria Street, London, EC4V 4ET
Metro Bank PLC One Southampton Row, London, WC1B 5HA
**Charity Number** 1128854 **Website** www.stmaryofcharity.org **Independent Examiner** G D Smith FCA 5 Coppice View Weavering Maidstone Kent ME14 5TX
**THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY OF CHARITY, FAVERSHAM, KENT**
Page 2
**LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2023**
## **PCC Members and Trustees**
Rev'd Simon Rowlands Rev'd Dan Corcoran
Mr Kevin Swinney Mr Keith Tyler
Mrs Deanna Neesham Canon Miranda Ford Mrs Claire Choong
Vicar and Chair of PCC Community and Mission priest
Reader and Churchwarden Churchwarden from 19th April 2023
Secretary Diocesan House of Laity Chair, Archbishops Council Diocesan and Deanery Synod Representative Deanery Synod Representative
## **Elected Members**
Mrs Elizabeth Morris Mrs Carole Rickard Mr Michael Moore Miss Margaret Lanxon Mr Dennis Parrett Mrs Jennie Osborne Mr Brian Wimlett Mrs Mary Wimlett Mrs Rosalie Graham Mrs Phyllis Brown
Parish Safeguarding Officer retired 19th April 2023
Retired 19th April 2023
Appointed 19th April 2023
**THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY OF CHARITYB, FAVERSHAM, KENT**
Page 3
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Situation**
The Parish Church of St Mary of Charity (SMoC) is situated in Faversham. It is part of the Diocese of Canterbury within the Church of England. The correspondence address of the PCC is 16 Newton Road, Faversham, Kent. ME13 8DY.
## **Constitution**
The Parochial Church Council (PCC) is a registered Charity under the name The Parochial Church Council of the Ecclesiastical Parish of St Mary of Charity Faversham Kent, number 1128854
The constitution of the charity is embedded in the Canon Law of the Church of England and other Acts of Parliament.
## **Recruitment and Appointment of PCC members**
Members of the PCC are either ex-officio or elected by the Annual Parochial Church Meeting
(NB -the PCC elects the Treasurer and Secretary). During the year and to the date this report was approved the members of the PCC were those listed on Page 2
## **Structure, governance and management**
The Standing Committee, which is established by law and empowered to transact the business of the PCC between its meetings subject to any directions given by the Council.
## **Objectives and Activities**
St Mary of Charity's PCC has the responsibility of co-operating with the vicar in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. It also has maintenance responsibility for the church building.
## **Achievements and Performance**
## **Church Attendance**
The Church Electoral Roll is kept under continuous review, with 111 parishioners on the roll at 31 December 2023. This is a net Increase of 4 more than at the previous year end. Usual Sunday Attendance is 55 adults, the figures for special services, such as Easter, Christmas and Harvest (which considerably enhance these Sunday figures) are recorded separately.
## **Review of the year**
After the disruption of the Covid pandemic we have now established a regular pattern of Services. This has included one lay led service per month. The payment of the Diocesan set, Parish Share which is by far the largest expenditure matter was successfully met. The PCC pays this monthly contributes to fund clergy and central costs. Ministry was funded largely from the regular giving and collections plus fees from funerals and weddings which took place in the church during 2023.
There has been a focus on making greater use of the church building to generate income. In February we hosted a series of events on behalf of the Faversham Literary Festival, raising funds through the hire of the church and the providing of refreshments.
In August the church was the centre of the Open Faversham festival. For 9 days there were a series of exhibitions, concerts and talks on a wide range of topics relating to Faversham’s historical and cultural past. This included a display and talk about the church silver that had been kept in a bank vault for the last 50 years and seen by very few members of the congregation or public. This generated funds for the Kitchen and Toilet project. Two grants totalling £17 000 were also obtained to help toward the delivery of this project. The PCC is grateful for these contributions to the project. Likewise, the project has continued to be pursued through the planning process.
In 2022 the church office moved from the Treasury to the St Mary of Charity Primary school. This has provided a much more professional environment for the Parish Administrator to work and meet visitors.
The Credit Card machine fitted at the entrance to the church, at the end of 2022, has proved to be a success with over £3000 paid through it, generally by visitors to the church. To make the holding of events more flexible and to be attractive to hirers a Liquor Licence has been obtained for the church. This has allowed the sale of alcohol at several events to further assist in fundraising.
The state of the church remains a concern, with repairs being affected to the electrics and the boilers. It seems likely that the boilers will need to be replaced with an alternative heating system in the next few years. At that point a review of how the church might be heated will need to be held. The general state of the building's decoration will also need to be a focus for 2024.
The PCC would like to thank all the volunteers who work so hard to make our church the lively and vibrant community it is.
**ST MARY OF CHARITY FAVERSHAM, KENT**
Page 4
## **TRUSTEE'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Diocesan and Deanery Synod**
Three Members of the PCC should sit on the Deanery Synod, each triennium. One of our members is: Chairing the Diocesan House of Laity, on Archbishops Council and Lay Chair of Deanery This provides the PCC with important links between the parish and the wider structure of our Diocese.
## **Financial Review**
The attached accounts show an unrestricted deficit for the year of £10,062 (2022- surplus £59,593) clearly deficits of this size are unsustainable and although a lot of work has been done to bring in additional funds it is hoped that in 2024 we can build on the fundraising projects of 2023 and we can have a sustainable future.
The Designated and restricted reserves have been placed on interest bearing accounts to make use of higher interest rates. These projects in particular kitchen and toilets are going to take a number of years to complete, during this period the PCC will continue to endeavour to maximise interest but ensuring that all funds are protected by HM Government guarantees.
Full details of the financial results are shown on page 6
## **Reserves Policy**
The PCC is still of the same opinion in so far as we should aim to have unrestricted reserves of a minimum of 6 months expenditure, at the current time we have just met this target which we hope to maintain.
## **Plans for the future**
The PCC will continue to meet regularly and look for additional ways of increasing our income and mission in hoping that we may
maintain as a benefice the same level of clergy that we currently have and develop our mission in the community and congregation.
It’s hoped that funds and final permissions will be given for the Kitchen and Toilets in 2024, and the project will come to fruition. At that point a review will be needed to decide how to exploit the opportunities that the new Kitchen and Toilets will provide.
Approved by the PCC on 10th April 2024 and signed on its behalf
_**……………………………………………..**_
S D Rowlands
**THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY OF CHARITY FAVERSHAM, KENT**
Page 5
## **INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF THE PAROCHIAL**
## **CHURCH COUNCIL OF ST MARY OF CHARITY FAVERSHAM**
I report on the accounts of the Church for the year ended 31 December 2023 which are set out on pages 6 to 13.
## **Respective responsibilities of Trustees and Examiner**
The Church's Trustees are responsible for the preparation of the accounts. The Church's Trustees consider that an audit is not required for the 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:
- examine the accounts under Section 145 of the 2011 Act;
follow the procedures laid down in the applicable directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act; and
- state whether particular matters have come to my attention.
## **Basis of Independent Examiner's Statement**
My examination was carried out in accordance with applicable directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity 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 you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- 1 which gives me reasonable cause to believe that, in any material respect, the requirements:
- to keep accounting records in accordance with Section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act.
have not been met; or
2
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
G D Smith FCA 5 Coppice view Weavering Maidstone ME14 5TX
Date 11th April 2024
**THE PCC OF THE ECCESIASTICAL PARISH OF ST MARY OF CHARITY, FAVERSHAM, KENT**
Page 6
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023**
|**Notes Unrestricted**
**Designated**
**Funds**
**Funds**
**£**
**£**
**INCOME**
Voluntary Income
2
70,594
972
Activities for Generating funds
3
9,796
700
Income from Investments
4
1,092
1,416
Church Activities
5
3,060
-
Other incoming resources
6
1,500
-
**TOTAL INCOME**
86,042
3,088
**EXPENDITURE**
Church Activities
7
98,572
2,335
Raising funds
327
-
**TOTAL EXPENDITURE**
98,899
2,335
NET INCOME/ (EXPENDITURE) BEFORE
OTHER RECOGNISED GAINS
(12,857)
753
**TRANSFER BETWEEN FUNDS**
2,795
-
**NET MOVEMENT IN FUNDS**
(10,062)
753
Total funds brought forward
80,280
84,852
Total funds carried forward
70,218
85,605|**Restricted**
**Funds**
**£**
57,880
2,633
263
-
-
60,776
12,886
-
12,886
47,890
(2,795)
45,095
36,264
81,359|**2023**
**Total**
**£**
129,446
13,129
2,771
3,060
1,500
149,906
113,793
327
114,120
35,786
-
35,786
201,396
237,182|**2022**
**Total**
**£**
130,383
12,928
640
2,927
1,750|
|---|---|---|---|
||||148,628|
||||113,062
1,046|
||||114,108|
||||34,520
-|
||||34,520
166,876|
||||201,396|
**THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY OF CHARITY, FAVERSHAM, KENT**
Page 7
## **BALANCE SHEET AS AT 31 DECEMBER 2023**
|**Notes**
**FIXED ASSETS**
Tangible
11
**CURRENT ASSETS**
Investments
Debtors and Prepayments
13
Short term deposits
Cash at bank and in hand
**LIABILITIES**
Creditors- amounts falling
due within one year
14
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
Creditors - amounts falling
due after more than one year
**TOTAL NET ASSETS**
**PARISH FUNDS**
Unrestricted funds
16
Designated funds
16
Restricted funds
16
**TOTAL FUNDS OF THE CHURCH**|31,102
24,766
89,763
88,218|**2023**
**£**
6,601
233,849
3,268
230,581
237,182
-
237,182
70,218
85,605
81,359
237,182|30,136
8,968
51,696
112,266|**2022**
**£**
2,787|
|---|---|---|---|---|
|||||203,066
4,457|
|||||198,609|
|||||201,396
-|
|||||201,396|
|||||80,280
84,852
36,264|
|||||201,396|
The notes at pages 8 to 13 form part of these accounts
Approved by the Parochial Church Council on 10th April 2024 and signed on its behalf by:-
………………………………. Rev Simon D Rowlands
**THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY OF CHARITY, FAVERSHAM, KENT**
Page 8
**NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **1 Accounting policies**
The PCC is a public benefit entity within the meaning of` FRS102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCC's and with the Regulations '' true and fair view' provisions.
The financial statements have been prepared under historical cost convention except for the valuation of investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members.
## **Incoming resources**
Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate is received. Grants and legacies are accounted for when the PCC is legally entitled to the amounts due. Dividends are accounted for when receivable, interest is accrued. All other income is recognised when it is receivable. All incoming resources are accounted for gross. Donated services are included at the value to the PCC where this can be quantified.
## **Resources expended**
Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the PCC. The diocesan parish share is accounted for when due. Amounts received specifically for mission are dealt with as if restricted funds. All other expenditure is generally recognised when it is incurred and includes VAT which cannot be recovered
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the PCC and include the independent examiners fees and costs linked to the strategic management of the PCC.
## **Tangible fixed assets**
Consecrated and benefice property is not included in the accounts in accordance with s.10(2) of the Charities Act 2011.
Moveable church furnishings and other assets held by the churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the church's inventory, which can be inspected (at any reasonable time). For anything acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements. Subsequently individual items costing less than £800 have been written off when incurred, any individual item costing more than £800 is being depreciated at 5% pa on cost.
## **Investments**
Investments are valued at market value at the balance sheet date and the gain or loss taken to the statement of financial activities.
## **Fund Accounting**
Funds held by the PCC are:
Unrestricted general funds – Funds which can be used in accordance with the charitable objects at the discretion of the PCC members.
Designated funds – Funds set aside by the PCC members out of unrestricted general funds for specific future purposes or projects.
Restricted funds – Funds that can only be used for the particular, restricted purposes within the objects of the PCC. Restrictions arise when specified by the donor or when funds are raised for particular purposes.
## **Currency**
The presentation currency of the financial statements is the Pound Sterling (£).
## **Taxation**
The PCC is exempt from tax on its charitable activities.
**THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY OF CHARITY, FAVERSHAM, KENT**
Page 9
## **NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2023**
|2
**Voluntary Income**
**Unrestricted Designated**
**Funds**
**Funds**
**£**
**£**
40,984
-
8,688
-
1,182
391
254
-
11,532
250
5,277
-
Benefact Trust and Bensted Charities
440
-
2,237
-
-
331
70,594
972
**3**
**Unrestricted Designated**
**Funds**
**Funds**
**£**
**£**
-
700
26
-
Church Hire and Heating Costs
9,227
-
Church Coffee and afternoon teas
281
-
Photocopying
262
-
~~9,796~~
~~700~~
4
**Unrestricted Designated**
**Funds**
**Funds**
**£**
**£**
25
713
Interest on Investment Accounts
-
703
Interest on Short Term Deposits
1067
-
**Total Income from Investments**
1092
~~1,416~~
**5 Income from Church Activities**
**Unrestricted Designated**
**Funds**
**Funds**
**£**
**£**
Statutory Fees
3,060
-
**Total Income from Church Activities**
3,060
-
6
**Unrestricted Designated**
**Funds**
**Funds**
**£**
**£**
Alms House Chaplaincy
1,500
-
Sale of Equipment
-
-
1,500
**-**
Non Statutory fees
**Total Voluntary Income**
**Activities for Generating funds**
**Other Incoming Resources**
Regular Giving
Collections
Candle stand and Pillar Boxes
Gift Aid recoverable
Little Fishes
Legacies
Listed Places of Worship (VAT)
Donations received
Home Communion
Social & Fundraising
**Income from Activities for Generating**
**Income from Investments**
Bank Interest|**Restricted**
**Funds**
**£**
-
368
34,840
-
4,872
-
17,800
-
-
57,880
**Restricted**
**Funds**
**£**
-
2,633
-
-
-
2,633
**Restricted**
**Funds**
**£**
-
263
-
263
**Restricted**
**Funds**
**£**
-
-
**Restricted**
**Funds**
**£**
-
-
**-**|**2023**
**Total**
**£**
40,984
9,056
36,413
254
16,654
5,277
18,240
2,237
331
129,446
**2023**
**Total**
**£**
700
2,659
9,227
281
262
13,129
**2023**
**Total**
**£**
738
966
1067
2,771
**2023**
**Total**
**£**
3,060
3,060
**2023**
**Total**
**£**
1,500
-
1,500|**2022**
**Total**
**£**
39,023
8,188
16,322
195
14,056
36,504
13,842
2,038
215|
|---|---|---|---|
||||130,383|
||||**2022**
**Total**
**£**
1,679
4,369
6,303
301
276
|
||||~~12,928~~|
||||**2022**
**Total**
**£**
145
391
104|
||||640|
||||**2022**
**Total**
**£**
2927|
||||2,927|
||||**2022**
**Total**
**£**
1,500
250
.|
||||1,750|
**THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY OF CHARITY, FAVERSHAM, KENT**
Page10
## **NOTES TO THE ACCOUNTS(Continued) FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **7 Church Activities**
|**Unrestricted Designated**
**Funds**
**Funds**
**£**
**£**
Diocesan Parish Share
55,418
-
Deanery Mission Costs
90
-
Home Mission
-
-
Incumbent Working Expenses
459
-
Community and Mission Prest
283
-
Upkeep of Services
1,160
-
Administration and Office
677
20
Parish Administrator
6,001
-
Office Telephone and Broadband
1,742
-
Church Running - Electricity
1,633
-
Church Running - Gas
5,217
-
Church Running- Water
172
-
Church Running- Insurance
10,288
-
Church Maintenance & Improvement
5,093
1500
Depreciation
288
-
Bell & Clock Maintenance and Repair
984
Organ and Piano Tuning
404
-
Equipment and Software
389
-
-
339
665
5,292
-
-
150
-
-
Subscriptions and donations
372
-
Hospitality
-
-
Vicarage Expenses
-
-
Photocopying
2,271
-
98,572
2,335
Website costs
Music and Choir
Director of Music
Little Fishes
Youth and Children|**Restricted**
**Funds**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
11,377
59
-
800
-
200
450
-
-
-
-
-
-
-
12,886|**2023**
**Total**
**£**
55,418
90
-
459
283
1,160
697
6,001
1,742
1,633
5,217
172
10,288
17,970
347
984
1,204
389
200
1,454
5,292
150
-
372
-
-
2,271
~~113,793~~|**2022**
**Total**
**£**
58,022
90
37
463
265
826
1,299
4,618
1,351
2,557
5,874
549
9,233
11,271
174
3,920
1,880
471
19
1,454
6,232
157
-
226
50
23
2,001
|
|---|---|---|---|
||||~~113,062~~|
In addition to these Donations above St Mary of Charity has been responsible for raising funds Royal British Legion £238, Porchlight £686, and Churches together in Faversham £174, These Donations have been processed as Agency payments.
## **8 Governance Costs**
The Accounts are held on a series of dedicated spreadsheets.
As our income is below £250,000 we do not need to engage an Independent Examiner who has a practicing certificate.We are therefore able to use the services of an Honorary Independent Examiner.
## **9 Staff Costs**
The PCC employs a part time admistrator, these cost are shared with other parishes in the Benefice of Faversham. The cost shown in the accounts is net of the other parishes contributions.
There were no employee benefits to key management personnel in the previous or current year.
## **10 Related Parties**
The Vicar and Churchwardens operate a separate bank account to receive income from various legacies and sundry items given over many years to be administered by the Vicar and Churchwardens as opposed to PCC. The capital fund from which income is derived is invested in ten separate CBF Church of England Income Units totalling 1,714 (2022 - 1,714) and the market value at 31 December 2023 was £ 38,745 (2022 £35,413). The bank balance was £5,647 (2022 £4,588) The PCC does not have control over this account. The income has not needed to be spent on the churchyard since Swale Borough Council took over the maintenance although it is available for any additional work required at Vicar and Churchwardens discretion.
A small immaterial portion of the expenses paid to the Vicar may have related to his services as Chairman of the PCC
**THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY OF CHARITY, FAVERSHAM, KENT**
Page11
## **NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **10 Related party (continued)**
Two members of the PCC are Trustees of the newly formed Charity GEM 72 (but do not control it)a charity formed as a Charitable Incorporated Organisation (charity No 1200064) up until incorporation the PCC managed the funds of GEM 72 the PCC have no financial gain from the new Charity but gain from it's mission work.
The church will also benefit from the work undertaken by the Friends of St Mary of Charity Church, a Charity formed as a Charitable Incorporated Organisation( charity No 1180641) in 2018. Although certain members of the PCC are Trustees it is not controlled by the PCC.
|**11 Fixed Assets**
Cost or Valuation
At 1st January 2023
Additions at cost
At 31st December 2023
Depreciation
At 1st January 2023
Charge for the year
At 31st December 2023
Net Book Value
At 31st December 2022
At 31st December 2023
**12 Investments**
**13 Debtors and Prepayments**
Benefice expenses Recoverable from Parishes
Outside Lectern
Photocopying
Benefact Trust
Wedding fees
Gift Aid recoverable
Castle water credit
Grant for VAT from Listed places of Worship scheme
Hire of Church
Total Debtors and Prepayments
Investments are represented by CBF Deposit Funds.|**Church**
**Equipment**
**£**
3,792
4,161
7,953
1,005
347
1,352
2,787
6,601
**2023**
**£**
2,083
928
-
12,800
1,039
5,997
120
1,599
200
24,766|**Total**
**£**
3,792
4,161|
|---|---|---|
|||7,953|
|||1,005
347|
|||1,352|
|||2,787|
|||6,601|
|||**2022**
**£**|
|||1,984|
|||928|
|||28|
|||-|
|||-|
|||4,751|
|||252|
|||821|
|||204|
|||8,968|
Page12
## **THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY OF CHARITY, FAVERSHAM, KENT**
## **NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023**
|**NOTES TO THE ACCOUNTS (Continued)**
**FOR THE YEAR ENDED 31 DECEMBER 2023**|||
|---|---|---|
|**14 Creditors- Amounts falling due in less than one year**
British Telecom
Church Electricity
Church Gas
Community and Mission prest expenses
Public Clocks
CDBF Burial of Ashes
Fees in advance
Following year wedding fees
Incumbents expenses
Overpayment of Benefice fees
Donation
Photocopying
Pension Contributions, PAYE and arrear of Salary
**Total Creditors**|**2023**
£
282
127
1,913
254
-
47
-
300
-
21
-
137
187
3,268|**2022**
£
205
279
910
212
471
-
216
200
1,567
-
150
64
183|
|||4,457|
## **15 Agency Accounts**
The agency account is used to receive and disburse monies that are specifically due to other organisations and do not belong to the church. The PCC holds the amounts shown below as part of our general bank balances.
|Children's Society
Faversham Food Bank
Community Bus
Clergy gift
Britsh Legion
Porchlight
Canterbury Diocesan Board of Finance Statutory fees
**Total Funds Held**
**16 Summary of Fund Movements**
**Balance**
**Income**
Restricted
Built to Inspire
2,028
-
Music Fund
1,393
-
Organ Fund
12,910
2411
Healing
75
-
Flowers
537
-
Flower festival
922
-
Alter Linen
493
-
Vicar's Designated Fund
1,911
400
Home Communion Set
215
-
Lecture Takings
987
-
Kitchen and Toilet
10,062
56,255
Website
-
1,250
North Transept/Wall/Buttresses
1,856
-
Box replacement fund
-
460
Heating
2,875
-
~~36,264~~
~~60,776~~
Bell Ringing Fund
1,924
941
Choir Fund
2,036
400
Children and Youth Ministry
220
-
Development Fund
28,937
703
Kitchen and Toilets
50,000
713
Little Fishes
649
331
Holiday club
1,086
-
84,852
3,088
General
80,280
86,042
201,396
149,906
**1st Jan 2022**
Total Funds
Unrestricted Funds
Designated|**Expenses**
-
59
1250
-
-
-
-
-
-
-
10,727
200
-
650
-
~~12,886~~
1,815
370
-
-
-
150
-
2,335
98,899
114,120|**2023**
**£**
-
-
-
10
1
-
1,092
1,103
**Transfers**
-
-
-
-
-
-
-
-
-
-
-
-
-
80
(2,875)
(2,795)
-
-
-
-
-
-
-
2,795
-|**2022**
**£**
6
10
{2}
288
559
336|
|---|---|---|---|
||||1,197|
||||**Balance**
**31st Dec 2023**
2,028
1,334
14,071
75
537
922
493
2,311
215
987
55,590
1,050
1,856
(110)
-
|
||||~~81,359~~|
||||1,050
2,066
220
29,640
50,713
830
1,086|
||||85,605|
||||70,218|
||||237,182|
**THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY OF CHARITY, FAVERSHAM, KENT**
Page 13
## **NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **17 Summary of Assets by Fund**
|**mmary of Assets by Fund**||||
|---|---|---|---|
|**Unrestricted**
**Fund**
£
Tangible Fixed Assets
5,476
Current Assets
68,010
Current Liabilities
(3,268)
70,218|**Designated**
**Fund**
£
-
85,605
-
85,605|**Restricted**
**Fund**
£
1,125
80,234
-
81,359|**Total**
£
6,601|
||||233,849|
||||(3,268)|
||||237,182|
## **18 Comparative statement of Finncial Activities(2022)**
|**Unrestricted Designated**
**Funds**
**Funds**
**£**
**£**
**INCOME**
Voluntary Income
113,576
1,222
Activities for Generating funds
11,944
984
Income from Investments
228
306
Church Activities
2,927
-
Other incoming resources
1,750
-
**TOTAL INCOME**
130,425
2,512
**EXPENDITURE**
Church Activities
100,473
4,875
Raising funds
639
-
**TOTAL EXPENDITURE**
101,112
4,875
NET INCOME/ (EXPENDITURE) BEFORE
OTHER RECOGNISED GAINS
29,313
(2,363)
**TRANSFER BETWEEN FUNDS**
30,280
(30,225)
**NET MOVEMENT IN FUNDS**
59,593
(32,588)
Total funds brought forward
20,687
117,440
Total funds carried forward
80,280
84,852|**Restricted**
**Funds**
**£**
15,585
-
106
-
-
15,691
7,714
407
8,121
7,570
(55)
7,515
28,749
36,264|**2022**
**Total**
**£**
130,383
12,928
640
2,927
1,750
148,628
113,062
1,046
114,108
34,520
-
34,520
166,876
201,396|**2021**
**Total**
**£**
91,358
1,905
37
3,047
1,500|
|---|---|---|---|
||||97,847|
||||139,237
53|
||||139,290|
||||(41,443)
-|
||||(41,443)
208,319|
||||166,876|