## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF KING CHARLES THE MARTYR TUNBRIDGE WELLS**
## **ACCOUNTS FOR THE YEAR ENDING 31 DECEMBER 2023**
**REGISTERED CHARITY 1128993**
## **Introduction**
As the Chair of the Parochial Church Council, it is my pleasure to present the Annual Report and Accounts for King Charles the Martyr Church in Tunbridge Wells for the year ending December 2023.
It continues to be joy to minister within a growing and flourishing church family. As always, this report will present only a very brief snapshot of the last 12 months in the life of the Church. Over the past year we saw steady growth in many aspects of church life with an increasing number of families attending our main services. Work also commenced on developing the plans and fundraising for the refurbishment of our Church Hall. We are indebted to everyone who has been involved in running a number of very successful and enjoyable local fundraising events throughout 2023.
The Church has continued to be served by a team of dedicated and talented ministers, lay and ordained. We are particularly indebted to the Rev Canon Sarah Partridge, Associate Vicar together with the Readers and Licensed Lay Ministers who have assisted so generously with leading services and preaching.
My thanks also go to everyone who has supported the church and contributed to its spiritual and cultural life over the last year. We are extremely grateful to the many volunteers, too numerous to mention, who have worked to ensure the smooth running of the church and its many activities.
We recognise that for many, these continue to be difficult times. Alas, we inevitably lost some good friends during the year and our prayers continue to be with all those who have lost loved ones or who have moved away.
We continue to pray and look forward to the development of our fellowship during the forthcoming year, so that King Charles the Martyr remains a welcoming place of worship, support and community.
Rev Laurence Powell Chair of the Parochial Church Council
## **PAROCHIAL CHURCH COUNCIL REPORT**
## **AIMS AND PURPOSES**
The Parochial Church Council (PCC) is a corporate body established by the Church of England and operates under the Parochial Church Council Powers Measure 1956, Church Representation Rules 2020 and as a charity under the Charity Commission for England and Wales. It meets at least four times a year and, in partnership with the Vicar and the Churchwardens, holds responsibility for all that happens at the Church. The PCC is consulted (and often votes) on any significant matter that affects King Charles the Martyr Church, Tunbridge Wells.
During 2023 the PCC met on eight occasions. The issues that the PCC considered throughout the year are set out in the body of this report.
## **OBJECTIVES AND ACTIVITIES**
The primary object of the PCC is to co-operate with the Vicar in the promotion of the Gospel of Jesus Christ according to the doctrines and practices of the Church of England. The PCC has the responsibility of cooperating with the Vicar in promoting in the ecclesiastical parish, the whole mission of the Church: pastoral, evangelical, social, charitable and ecumenical. The PCC is also responsible for the maintenance of the Church and Church Hall.
The PCC is committed to enabling as many people as possible to worship at church and to become part of our parish community. The PCC maintains an overview of worship and tries to ensure that the services and activities can involve the many groups that live within our parish.
## **Public Benefit**
The PCC is aware of the Charity Commission guidance on public benefit. It is also aware of the supplementary guidance relating to religious charities. The PCC promotes the mission of the Church through regular public worship open to all; pastoral work, including visiting the sick and the bereaved; teaching of Christianity through sermons and study groups; supporting other charities in the UK and overseas; promotion of an interest in music through concerts and recitals.
## **KING CHARLES THE MARTYR PCC COMMITTEES**
## **Standing Committee**
The PCC operates through committees, which meet between the full meetings of the PCC. The Standing Committee is the only committee required by law. It carries on the business of the PCC between full meetings, subject to any directions given by the PCC. Its members are the Vicar (Chairperson), Churchwardens (one of whom is also the lead on all Fabric matters), Lay Vice Chair of the PCC, Treasurer, Lay Representative and the PCC Secretary, with input as required from others. The Standing Committee met on five occasions during 2023.
Following the APCM in May 2023, the PCC also appointed four other committees, which considered the following areas and reported back to the main meetings of the PCC:
- Churchwardens Committee, chaired by the Vicar, which covers matters relating to the day-to-day provision of church worship and activities.
- Hall Fabric Committee, chaired by Richard Morrice, (Churchwarden who leads on all Fabric Matters), which considers the building aspects of the Church Hall improvement project.
- Fundraising Committee, chaired by Sarah Raine, which has responsibility for fund-raising and information/communications.
- Local Events Fundraising Committee, chaired by John Cornish, which engages members of the wider congregation in the development and management of local Church fundraising events.
## **SAFEGUARDING**
KCM appointed a Parish Safeguarding Officer, who along with the Vicar, has had lead responsibility for implementing KCM’s duty under Section 5 of the Safeguarding and Clergy Discipline Measure 2016, with regard to the House of Bishops’ guidance on safeguarding children and vulnerable adults.
## **ACTIVITIES AND PERFORMANCE IN 2023**
A selection of some of the main activities carried out in the church is described below and the members of the PCC believe that these are sufficient to comply with the Charity Commission’s requirement for public benefit.
## **Worship, Music and Prayer**
The main activity of King Charles the Martyr Church was the regular worship of God that provided opportunities for spiritual growth, teaching, prayer, outreach and fellowship. The ministry of pastoral care was also carried out in response to need. King Charles the Martyr has continued to hold three regular services on Sundays to cater for the differing needs of the congregation, as well as mid-week services and additional celebrations at the major festivals.
Attendance gradually increased to pre-pandemic levels. As a full programme of services has been operating all year, the live streaming of some of KCM’s services has ceased.
King Charles continued to be fortunate in having a strong musical tradition with many talented musicians and organists in the congregation, as well as the individuals who sing in the choir. Over the year the Church has hosted a varied concert programme.
## **Pastoral Care**
In 2023, the ministerial and warden team launched a new system for organising pastoral care. In addition to this, a variety of methods has been used to keep in touch with the congregation and keep people informed about Church activities including the Parish weekly email and the monthly magazine.
## **Deanery Synod**
Deanery Synods play a vital part in the synodical government of the Church of England as they form the electorate for General Synod membership. King Charles the Martyr Church is entitled to four elected representatives on the Tunbridge Wells Deanery Synod. During 2023, the laity was represented by Julian Black, David Bushell, Alice MacFarlane and Richard Morrice. As members of Diocesan Synod, Norma Buck, Paul Clark and Rosina Robinson also served on the Tunbridge Wells Deanery Synod.
The Deanery Synod met 3 times in 2023. The Diocesan Communications Manager and Bishop’s Media Adviser was the speaker at the first meeting with a presentation "Communicating your church in a changed Landscape”. At the annual summer meeting and meal Bishop Jonathan was the guest speaker. He outlined his background before moving to Rochester and then told of some of his hopes and plans for the diocese as well as answering questions on a wide range of topics. The final meeting of 2023 was an exploration of how local churches are approaching the challenges of mission and ministry in Tunbridge Wells at the moment with input from a variety of churches and time for discussion.
## **Mission and Outreach**
Over the last two years King Charles the Martyr developed a shared vision for the Church to grow; and live out its values by increasing outreach to the local community. As part of this vision, it was agreed that the Church Hall needed to be modernised and upgraded. In September 2023, the PCC built on this vision for the future by holding a planning day, which considered their priorities for mission.
Preparatory work to take forward the upgrade of the hall was undertaken throughout 2023 as follows:
- planning permission was acquired in March 2023 and budget costings were prepared by a professional team of advisers including an architect, quantity surveyor and structural engineer;
- work commenced on fundraising, including the delivery of a number of local fundraising events and preparatory work on applications to grant making trusts and foundations by professional fundraisers.
Since this project was initially envisaged, the economic environment has become significantly more challenging. It is now anticipated that fundraising will take longer, before any work can commence on the first phase.
Throughout the year, many social and outreach activities took place in the Church Hall. Junior Church ran throughout 2023 and the links with local schools have continued to be fostered and developed.
The PCC has maintained its support for the local Food Bank and the Community Larder that operates from St Mark’s Church.
KCM also participated in the Friends of Kent Churches annual ‘Sponsored Ride and Stride’ which once again raised valuable funds in 2023.
A Christmas Tree festival was held in December with the financial support of local businesses, which raised money for various charities.
Over the whole year a total of £5,186 was given as grants to other charities and other causes; details are given in Note 18 to the financial statements.
## **Members of the Ministry Team and Volunteers**
As always, the PCC is indebted to the Ministerial Team and the many volunteers, too numerous to mention, who contributed to the operation of the church and its activities throughout 2023. The Church has continued to be served by a team of dedicated ministers, lay and ordained. We are particularly grateful to the Rev Canon Sarah Partridge, Associate Vicar and the Readers and Licensed Lay Ministers.
Thanks and appreciation, in particular, also go to the Churchwardens and their Assistants; the Parish Administrators; Director of Music and the Choir; Organists and Musicians; Junior Church leaders; Crucifiers; Servers; Sacristans; Chalice Assistants; Sidespersons; Bible Readers; Intercessors; Parish Safeguarding Officers; Treasurers; Electoral Roll Officer; Church Hall Gardeners; King Charles Cooks; the Church Watch Team; Flower Arrangers; Bible Study leaders; organisers of the many social groups, events and fundraising activities and all the members of the congregation who have served coffee, set out the chairs/tables and undertaken a host of other tasks that has enabled the church to run smoothly.
## **Repairs and Maintenance**
Over the past year, various repairs were undertaken on the fabric of the church and its hall.
Every five years the Diocese arranges for an architect to inspect the church, to assess its condition and to outline works which need to be attended to. The last Quinquennial Inspection (QI), which is carried out as a requirement of the Ecclesiastical Jurisdiction and Care of Churches Measure 2018, as amended by the Church of England (Miscellaneous Provisions) Measure 2020, was undertaken in November 2021. This iden-
tified a number of matters which needed to be addressed, including redecorating the clock turret, cupola, other high level joinery, the west cornice and the windows; improving the ventilation in the sacristy; and some very minor low level repairs to brickwork. During 2022, the Parish Architect prepared a schedule of works and the QI works for repair and redecoration of the church were put out to tender. In December 2022, the PCC approved a contractor to undertake the work, the majority of which was undertaken during 2023.
A Fire Risk Assessment Report was also received at the start of 2022, which identified a number of matters that needed to be addressed, primarily in the hall but also in the Church. This work was prioritised. Work has been undertaken on upgrading the Church Lightning Conductor; a Fire Alarm system was installed in the Church Hall and the fire safety and attenuation works between the hall and flat were carried out over Easter 2023, as part of the works put out to tender by the Church architect with the QI works outlined above.
Application for faculties (the Church of England equivalent of a listed building consent application), have been pursued to make some minor changes to the lay-out of the north aisle of the Church to incorporate a children’s corner and relocate the ‘quiet corner’ and dispose of three surplus choir stalls and to conserve two seventeenth century subscription lists in the Church. The PCC is, at the time of writing, awaiting the outcome of these faculty applications.
As set out in the ‘Mission and Outreach’ section of this report, in 2022 the PCC agreed that the Church Hall should be modernised and improved, which was warmly welcomed by the wider congregation. During 2023, a professional team including an architect, quantity surveyor and structural engineer was appointed. Planning permission was sought and obtained by the architect, on the 6th March 2023. Following this, the Quantity Surveyor and Structural Engineer prepared estimated budget costings and at the end of 2023, options were prepared to divide the work into three phases.
In addition to the above, the PCC approved some other minor repairs throughout 2023.
## **Financial Report**
The total unrestricted income for 2023 was nearly 10% higher than the previous year, due to money received at the Christmas Fair and Tree festival, together with some large one-off donations. The regular planned giving showed a marked fall and it is to be hoped that the recent generous giving campaign will reverse this trend.
Outside of the parish offer to the Diocese, the major expense was incurred on the quinquennial repairs and major work on the church hall. The cost of the quinquennial repairs to date was less than the amount put aside over previous years in the repair fund. The cost of the work on the hall was met from the reserves.
The start of work to upgrade the church hall saw much effort to raise funds as well as some generous donations with slightly in excess of £32,000 raised. However, the costs of the preparatory work were somewhat in excess of this and the shortfall of £1,725 was met from PCC funds.
The current level of reserves is in excess of the £80,000 target as determined by the PCC’s reserve policy. The PCC does not have any concerns about its ability to continue as a going concern.
## **PLANS FOR 2024**
In 2024, the Vicar and the PCC plan to continue to minister to the local population. Further discussion will take place on how to implement the mission priorities that emerged from the planning day and fundraising will continue for the improvement of the Church Hall.
Approved by the PCC on 23rd April 2024 and signed on its behalf by Rev Laurence Powell, Chair of the PCC
## **ADMINISTRATIVE INFORMATION**
The following administrative information, for the year ended 31[st] December 2023, is required to be recorded in this Annual Report.
|
in this Annual Report.||
|---|---|
|Registered Charity Name|The Parochial Church Council of the Ecclesiastical Parish of|
||King Charles the Martyr, Tunbridge Wells|
|Charity Number|1128993|
|Address|London Road|
||Tunbridge Wells|
||TN1 1YX|
|Correspondence Address|Parish Office|
||3 Warwick Park|
||Tunbridge Wells|
||TN2 5TA|
|Incumbent|The Rev Laurence Powell|
||King Charles Vicarage|
||Rodmell Road|
||Tunbridge Wells|
||TN2 5ST|
|Bankers|Lloyds Bank plc|
||84 Mount Pleasant Road|
||Tunbridge Wells|
||TN1 1RB|
|Independent Examiner|Mr C Weller FCA|
||9 Calverley Park|
||Tunbridge Wells|
||TN1 2SH|
## **PCC Membership**
Members of the PCC are either ex-officio or elected at the Annual Parochial Church Meeting in accordance with the Church Representation Rules. During 2023 the members of the PCC were:
|Vicar|The Rev Laurence Powell|The Rev Laurence Powell|
|---|---|---|
|Associate Vicar|The Rev Canon Sarah Partridge||
|Churchwardens|Norma Buck|(elected May 2023)|
|(Also Fabric Committee Chair)|Richard Morrice|(elected May 2023)|
|Lay Vice Chair|Michael Eliades|(elected May 2021 until April 2023)|
|Representatives on the|Julian Black|(elected May 2023)|
|Deanery Synod|David Bushell|(elected May 2023)|
||Alice MacFarlane|(elected May 2023)|
||Richard Morrice|(elected May 2023)|
|Representatives on the|Norma Buck|(from April 2012)|
|Diocesan Synod|Paul Clark|(from April 2017)|
|and Deanery Synod|Rosina Robinson|(from February 2022)|
|**Elected Lay Members listed in the date order that they were last elected:**|||
||Anna Astin|(elected May 2021)|
||Emma Burns|(elected May 2021)|
||John Cornish|(elected May 2021)|
||Paul Desrosiers|(elected May 2021 until October 2023)|
|(Assistant to the Churchwardens)|Marilyn Dove|(elected May 2022)|
||Sarah Raine|(elected May 2022)|
|(Parish Safeguarding Officer)|Jenny Selway|(elected May 2022)|
|(PCC Secretary)|Mary Bishop|(elected May 2023)|
||Giselle Della Bella|(elected May 2023)|
||Elizabeth Doyle|(elected May 2023)|
||David Howarth|(elected May 2023)|
||John Saxon-Mills|(elected May 2023)|
|Co-opted member|Alan Lockie|(fromJuly 2013 until May 2023)|
|Parish Treasurer|John Saxon-Mills||
||Alan Lockie||
Independent Examiner's report to the PCC of the
Parish Church of King Charles the Martyr, Tunbridge Wells
For the year ended 31st December 2023
I report on my examination of the accounts of the PCC for the year ended
31st December 2023
Responsibilities and basis of report
As members of the PCC you are responsible for the preparation of the accounts in
accordance with the requirements of the Charities Act 2011 ('the Act,) and the Church
Accounting Regulations 2006.
I report in respect of my examination of the PCC accounts carried out under section 145 of
the 2011 Act and in carying out my examination I have followed all the applicable
Directions given by the Charity Commission under Section 145(5){b) of the Act, and also
those found in Church guidan, 2017 edition.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in
connection with the examination giving me cause to believe that in any material respect:
l. accounting records were not kept in respect of the charity as required by section 130
of the 2011 Act,. or
2. the accounts do not accord with those records
3. the accounts do not comply with the applicable requirements conceming the fomi
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.
I 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 accounts to be reached.
Yours faithfully
Christopher INeller, FCA
9 Calverley Park
Tunbridge Wells
Kent TN12SH
18 March 2024
## **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF KING CHARLES THE MARTYR, TUNBRIDGE WELLS**
## **BALANCE SHEET AT 31 DECEMBER 2023**
|Note
**FIXED ASSETS**
Tangible assets
6
Investments
7
**Total fixed assets**
**CURRENT ASSETS**
Debtors and prepayments
9
Diocesan Repair Funds
10
Diocesan Loan Funds
11
Balances at Banks
12
**Total current assets**
**LIABILITIES**
Creditors falling due within one year
13
**Net current assets**
**TOTAL NET ASSETS**
**FUNDS**
Funds designated for repairs
Other unrestricted funds
Restricted funds
16
**Total funds**|**2023**
204,595
101,922
**306,517**
3,562
2,465
84,429
24,233
**114,688**
(15,885)
**98,803**
**405,320**
9,619
165,826
229,875
**405,320**|**2022**
206,892
104,154|
|---|---|---|
|||**311,046**
9,075
52,415
86,667
10,814|
|||**158,971**
(18,798)|
|||**140,173**|
|||**451,219**|
|||52,415
171,733
227,072|
|||**451,219**|
Approved by the Parochial Church Council on 23 April 2024 and signed on its behalf by
Chairman
Hon Treasurer
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **For the year ending 31 December 2023**
|Note
**INCOME AND ENDOWMENTS**
Donations and legacies
2(a)
Charitable activities
2(b)
Other trading activities
2(c)
Investments
2(d)
**Total**
**EXPENDITURE**
Raising funds
3(a)
Church and Charitable Activities
3(b)
Church management and administration
3(c)
**Total**
Net gains/(losses) on investments
**NET INCOME / (EXPENDITURE)**
Transfers between funds
17
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS**
Total funds brought forward
Total funds carried forward|126,926
9,410
136,336
3,504
1,643
5,147
52,796
22,858
75,654
6,742
710
7,452
**189,969**
**34,621**
**224,590**
5,046
13,978
19,024
92,029
2,611
94,640
143,832
20,415
164,247
**240,907**
**37,004**
**277,910**
7,422
7,422
**(43,516)**
**(2,383)**
**(45,899)**
(5,186)
5,186
**(48,702)**
**2,803**
**(45,899)**
224,147
227,072
451,219
175,445
229,875
405,320
**Unrestricted**
**funds**
**Restricted**
**funds**
**Total funds**
**2023**|121,181
8,592
44,651
4,377
**Total funds**
**2022**|
|---|---|---|
|||**178,801**
3,495
87,144
84,124|
|||**174,764**
(14,276)|
|||**(10,238)**|
||||
|||**(10,238)**|
|||461,457
451,219|
## **STATEMENT OF CASH FLOWS**
## **For the year ending 31 December 2023**
|Note
**Net cash provided by operating activities**
14
**Cash flow from investing activities**
Dividends and interest
2(d)
Purchase of equipment
Proceeds from sale of investments
Purchase of investments
**Net cash provided by investing activities**
**Change in cash and cash equivalents**
Cash and cash equivalents at 1 January
**Cash and cash equivalents at 31 December**|**(55,876)**
7,452
9,900
(246)
**17,106**
(38,770)
149,896
**111,126**
**Total funds**
**2023**|**(981)**
4,377
(9,188)
(251)
**Total funds**
**2022**|
|---|---|---|
|||**(5,061)**
(6,042)
155,938|
|||**149,896**|
## **NOTES TO THE FINANCIAL STATEMENTS**
## **1 ACCOUNTING POLICIES**
The financial statements have been prepared in accordance with the Church Accounting Regulations 2006, together with applicable accounting standards, the Charities SORP 2015 and Financial Reporting Standard 102. This basis is the same as that used in the financial statements for 2022.
## **Fund Accounting**
_Unrestricted funds_ are funds that may be used for any PCC ordinary purpose.
_Restricted funds_ represent donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Amounts received specifically for other charities are dealt with as restricted funds.
_Endowment funds_ are funds, the capital of which must be maintained; only income arising from investment of the endowment may be used, either as restricted or unrestricted funds. KCM has no endowment funds and so these statements make no reference to endowment funds.
## **Income recognition**
Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the income resource to which they relate is received. Grants and legacies are accounted for when the PCC is legally entitled to the amounts due and the amount can be properly determined. Dividends are accounted for when received, interest is accrued. Rental income on the Hall flat is recognised when earned. All other income is recognised when it is receivable.
## **Expenditure recognition**
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 PCC's offer to the Diocese is accounted for when due. All other expenditure is recognised when it is incurred.
## **Fixed Assets**
Consecrated and benefice property is not included in accordance with s.96(2)(a) of the Charities Act 1993. Moveable church furnishings held on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the Church's inventory.
Equipment used within the Church is depreciated on a straight-line basis over 4 years. Individual items with a purchase price of 1,500 or less are written off when the asset is acquired. The Hall is included at a nominal value as there is no intention to sell within the foreseeable future. The PCC takes the view that a full valuation or further revaluations in the future would not enhance the relevance of the information provided in these statements.
## **Current assets**
Current assets are cash in hand and money deposited with banks or the funds provided by the Diocese of Rochester. Their value has been taken as the full value of the deposits.
## **Debtors and Creditors**
Amounts owed under Debtors have been valued as the full amount due to the PCC without allowance for any potential bad debts.
Amounts owed by the PCC under creditors have been valued as the full amount due to be paid by the PCC.
## **Investments**
Investments are valued at their realisable value at the end of each year. The difference in the realisable value over 2022 is shown as unrealised investment gains or losses and transferred to the Statement of Financial Activities.
## **Church Shop**
The stock in the Church Shop has been fully written off.
|**2**
**INCOME**
**a**
**Income from donations and legacies**
Planned Giving under Gift Aid
Planned Giving not under Gift Aid
Collections and other donations
Donations received via CAF
Income tax recovered
Income tax recovered under GASDS
King Charles Lecture
Legacies
Hall for All donations
Income tax recovered
**b**
**Charitable Activities**
Fees for Church Services
Donations for other charities
Income tax recovered on donations
Grants received
**c**
**Other trading activities**
Hall flat rental income
Parking income
Hall Hire fees
Church hire
Church shop
Magazine, bookstall, publications
Social events
Christmas Fair
Christmas Tree Festival
Hall for All fundraising activities
**d**
**Income from investments**
Dividends
Interest
**TOTAL INCOME**|**Total 2023**
52,547
52,547
6,664
6,664
46,687
100
46,787
1,220
1,220
17,476
17,476
2,000
2,000
333
333
7,645
7,645
1,665
1,665
126,926
9,410
136,336
2,425
2,425
1,643
1,643
1,079
1,079
3,504
1,643
5,147
16,075
16,075
960
960
25,394
25,394
775
775
769
769
1,419
1,419
832
832
1,530
1,530
5,041
5,041
22,858
22,858
52,796
22,858
75,654
3,562
3,562
3,180
710
3,891
6,742
710
7,452
**189,969**
**34,621**
**224,590**
**Unrestricted**
**funds**
**Restricted**
**funds**|**Total 2022**
61,830
6,917
28,743
1,260
19,134
2,000
296
1,000|
|---|---|---|
|||121,181|
|||1,790
6,227
100
475|
|||8,592|
|||12,600
800
25,003
850
260
1,751
229
3,158|
|||44,651|
|||3,597
780|
|||4,377|
||||
|||**178,801**|
|**3**
**EXPENDITURE**
**a**
**Raising funds**
Church shop
Cost of magazine
Social events
Hall for All fundraising costs
Hall flat management costs
Investment management charges
**b**
**Church and Charitable Activities**
Grants given (see also note 18)
Offer to the Diocese of Rochester
Other ministry costs
Cost of services
King Charles Lecture
Christmas Tree Festival
Other Parish costs
**c**
**Church management and administration**
Printing/stationery/postage
Administration costs
Streaming costs
Secretarial fees
Bank charges
Insurance
Church maintenance & cleaning
Quinquennial Repairs
Church hall maintenance & cleaning
Hall for All Planning & Design costs
Organ Repairs
Church exterior planting
**TOTAL EXPENDITURE**|**Total 2023**
647
647
1,589
1,589
756
756
13,978
13,978
1,965
1,965
89
89
5,046
13,978
19,024
20
2,178
2,198
76,760
76,760
6,961
45
7,006
2,705
360
3,065
4,572
4,572
1,011
28
1,039
92,029
2,611
94,640
4,571
4,571
4,049
4,049
596
596
17,293
17,293
808
808
8,290
8,290
19,975
19,975
39,746
39,746
48,505
48,505
19,915
19,915
446
446
54
54
143,832
20,415
164,247
**240,907**
**37,004**
**277,910**
**Unrestricted**
**funds**
**Restricted**
**funds**|**Total 2022**
283
1,418
51
1,548
196|
|---|---|---|
|||3,495|
|||6,727
70,598
5,115
1,458
250
1,887
1,109|
|||87,144|
|||5,506
3,150
884
15,398
674
7,577
16,324
1,350
27,432
3,831
1,998|
|||84,124|
||||
|||**174,764**|
## **4 FEES AND PERSONAL EXPENSES**
KCM does not employ any staff. Secretarial services in the Parish Office were provided by members of the Church who work on a self-employed basis, submitting invoices for their time spent. The cost in 2023 was 17,292 (2022: 15,398) One of those providing the secretarial services was a member of the PCC and that person received 8,512 for their work in 2023.
No expense payments were made to members of the PCC in 2023 (2022: nil) other than reimbursement of normal out of pocket expenses. Expenses paid to the Vicar and Associate Vicar form part of the Other Ministry costs shown in Note 3(b); in 2023 these expenses totalled 2,105 (2022: 375)
## **5 RELATED PARTY TRANSACTIONS**
There were no related party transactions in 2023 (2022: 1,800).
During 2023 members of the PCC and related parties made contributions under Planned Giving of 20,432 (2022: 18,871)
## **6 FIXED ASSETS**
|**FIXED ASSETS**|||
|---|---|---|
|**Tangible fixed assets**
Actual deemed cost 1 January 2023
Additions at actual cost
Cost 31 December 2023
Charge for the year
Net book value at 31 December 2022
Net book value at 31 December 2023
**INVESTMENTS**
32,164.08
CT Responsible UK Equity Income
3033.6
CBF Church of England Investment Fund|**Freehold land**
**Church**
**Total**
**and buildings**
**equipment**
200,000
6,892
206,892||
||200,000
6,892
206,892||
||2,297
2,297
200,000
6,892
206,892
200,000
4,595
204,595
**2023**
**2022**
38,583
41,524
63,339
62,630
101,922
104,154||
|||101,922
104,154|
## **7 INVESTMENTS**
The PCC sold units to the value of 5,000 in each of the above funds in 2023 to help fund repair work to the church hall. The PCC received rebates totalling 246.48 from the investment platform of the CT fund. Due to HMRC restrictions the rebates were reinvested in the fund and are included within the dividends received in Note 3 above.
## **Investment Policy**
KCM undertakes to manage its financial investments in accordance with the following principles:
▪To act in accordance with the legal requirements and good practice guidelines, issued by the Charity Commission regarding charity investments, including: reviewing investments at least annually; maintaining a reasonable level of diversification in relation to the size of the investment portfolio; taking advice where appropriate from someone experienced in investment matters.
▪To hold investments that conform to the ethical investment framework determined by the Church of England's Ethical Investment Advisory Group or a similar ethical framework.
▪To hold investments designed to produce an income yield, but with sufficient level of growth to maintain their capital value
▪To hold investments on the basis of a 'balanced/cautious' attitude to risk.
▪To review this Investment Policy once every three years.
The investment policy was reviewed in 2023 when the PCC agreed to leave it unchanged.
## **8 RESERVES POLICY**
Balances in the Repair Funds are designated for future repairs of the Church and Hall, mainly arising from the quinquennial inspection. Other investments are considered to be free reserves.
The PCC considers these reserves should be maintained to provide: a) income,
b) funds to be available to meet any shortfall between income and expenditure, and
c) a fund to meet the cost of any essential repairs to the Grade 1 listed Church that may not be covered by other sources. Reserves should, if possible, be maintained at a minimum of 50% of the annual resources used including the transfer to the the repair funds, i.e. at least 80,000. In assessing the amount of assets available, the value of any equity-type investments is taken as 50% of its then current market value.
The reserves policy was reviewed in 2023 when the PCC agreed to leave it unchanged.
The present level of reserves is in excess of the target figure and is available to help meet some of the costs involved in the work to refurbish the Hall.
## **9 DEBTORS AND PAYMENTS IN ADVANCE**
|**2023**
**2022**
Income tax recoverable
681
1,614
Other debtors
2,881
7,461
3,562
9,075
**10**
**DIOCESAN REPAIR FUNDS**
**2023**
**2022**
Re Church
1,433
46,430
Re Hall
1,032
5,985
2,465
52,415
**11**
**DIOCESAN LOAN FUNDS**
**2023**
**2022**
General fund
60,162
66,573
Organ Appeal
24,266
20,094
84,429
86,667
**12**
**BALANCES AT BANKS**
**2023**
**2022**
Church current account
3,438
6,102
Hall current account
1,820
2,248
SumUp
32
Lloyds Savings account
18,943
2,464
24,233
10,814
**13**
**LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2023**
**2022**
Creditors: accruals
15,885
18,798
**14**
**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
**2023**
**2022**
**Net income for the reporting period**
(45,899)
(10,238)
Depreciation charge
2,297
2,297
(Gains)/losses on investments
(7,422)
14,276
Dividends and interest
(7,452)
(4,377)
(increase)/decrease in stocks
(increase)/decrease in debtors
5,513
(1,201)
Increase/(decrease) in creditors
(2,913)
(1,736)
**Net cash provided by operating activities**
(55,876)
(981)
**15**
**ANALYSIS OF NET ASSETS BY FUND**
**Unrestricted**
**Restricted**
**2023**
Tangible fixed assets
4,595
200,000
204,595
Investment assets
101,922
101,922
Current assets
84,813
29,875
114,688
Current liabilities
(7,572)
(2,546)
(10,118)
183,758
227,329
411,087|**2022**
206,892
104,154
158,971
(18,798)|
|---|---|
||451,219|
## **16 FUND DETAILS**
|RESTRICTED FUNDS
a) Nominal value of Church Hall.
b) Vicar's discretionary fund
c) Organ appeal fund (see Note 17)
d) Music legacy fund
e) King Charles' Prayer Book fund
f) Church Exterior fund
g) Children’s corner fund
h) Hall For All fund
I) Charitable giving
REPAIR FUNDS
UNRESTRICTED FUNDS
TOTAL|Opening
Income
Expenditure
Investments
Transfers
Closing
200,000
200,000
720
100
(535)
285
21,970
710
(446)
3,461
25,695
4,133
(388)
3,746
67
67
136
(54)
82
45
(45)
32,168
(33,893)
1,725
1,643
(1,643)|
|---|---|
||227,072
34,621
(37,004)
5,186
229,875
52,415
1,049
(43,845)
9,619
171,732
188,919
(240,907)
7,422
38,659
165,826
451,219
224,590
(277,910)
7,422
405,320|
Two legacies totalling 6,000 were received in 2016 from the late Paul Barker and the late Sheila Rogers. Each of these legacies specified that the money should be used to further the musical heritage of the Church and a separate restricted fund has been established. There was expenditure of 388 from this fund in 2023 (2022: 49).
In 2017 an appeal was launched to purchase an original copy of King Charles' Prayer Book. A total of 815 was collected which attracted 50 in Gift Aid. The book was bought for 800 and the balance of money collected will be used to help cover the cost of suitable storage for the book.
In 2017 an amount of 500 was received for the specific purpose of providing and filling planters at the front of the church's exterior. This amount was given under Gift Aid and the planters were donated. An additional amount of 60 was received in 2021 and was given under Gift Aid.
## **17 ORGAN APPEAL**
In the past the organists waived their entitlement to a fee for playing at services to the benefit of the Church's general funds. With effect from 1 January 2016, the PCC agreed to transfer such fees to the Organ Appeal fund. Further, the Director of Music has waived his honorarium in favour of the Organ Appeal fund with effect from 1 April 2016. A total of 3,461 was transferred to the Organ Appeal fund from the Church's general funds in respect of 2023 (2022: 3,300) as a result of these agreements.
## **18 GRANTS GIVEN**
|**a**
**Home Missionary and other Church Societies**
Chichester Diocesan Association for Family Support Work
Christian Aid Middle East appeal
Diocese of Rochester Poverty & Hope Appeal
Friends of Rochester Cathedral
St Mark’s Community Larder
**b**
**Secular Societies**
3H Foundation
Aspens
Barnado’s
British Red Cross – Syria/Turkey earthquake appeal
Children’s Society
Dogs for Autism
Epilepsy Action
Fegans
Friends of Grosvenor & Hilbert Park
Friends of Tunbridge Wells & Rusthall Commons
Hospices of Hope
Life and Soul Youthwork
Maidstone & Tunbridge Wells NHS CF
Nourish Community Foodbank
Paddock Wood Community Advice Centre
Pickering Cancer Drop-In Centre
Porchlight
Ruth Strauss Foundation
St Mark’s Primary School PTA
The Ralph Fund
Trinity Theatre and Arts Centre
Tunbridge Wells & Eridge Railway Preservation Society
TWRFC Ltd
**c**
**Missionary and Charitable Giving**
Vicar's discretionary fund
**Total**|106
366
106
20
161
98
From
General
Fund
From
Restricted
Funds|
|---|---|
||393
465|
||201
252
106
412
182
261
161
56
96
392
101
56
48
192
48
312
106
76
146
56
126
106
56|
||2,370
1,178|
||780|
||780|
|||
||2,763
2,423|
## **19 PRIOR PERIOD COMPARATIVE SOFA**
## **For the year ending 31 December 2022**
|Note
**INCOME AND ENDOWMENTS**
Donations and legacies
2(a)
Charitable activities
2(b)
Other trading activities
2(c)
Investments
2(d)
**Total**
**EXPENDITURE**
Raising funds
3(a)
Church and Charitable Activities
3(b)
Church management and administration
3(c)
**Total**
Net gains/(losses) on investments
**NET INCOME / (EXPENDITURE)**
Transfers between funds
17
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS**
Total funds brought forward
Total funds carried forward|121,181
121,181
2,265
6,327
8,592
44,651
44,651
4,281
96
4,377
**172,377**
**6,423**
**178,801**
3,495
3,495
80,388
6,756
87,144
82,126
1,998
84,124
**166,009**
**8,754**
**174,764**
(14,276)
(14,276)
**(7,908)**
**(2,331)**
**(10,238)**
(3,300)
3,300
**(11,208)**
**969**
**(10,238)**
235,355
226,102.33
461,457
224,147
227,071.60
451,219
**Unrestricted**
**funds**
**Restricted**
**funds**
**Total funds**
**2022**|121,201
3,288
33,897
3,797
**Total funds**
**2021**|
|---|---|---|
|||**162,183**
3,360
85,662
90,989|
|||**180,012**
13,978|
|||**(3,851)**|
||||
|||**(3,851)**|
|||465,308
461,457|