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2023-12-31-accounts

Charity registration number 1129067

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees A Sansom C O P Sansom V Mills T J White Revd Dr S Martin M Bremridge J Dauncey H Long W M Brooks N Brown J Hoare M Ousley H Smith A Anthony-Edwards J Preece (Appointed 17 May 2023) N McNiece (Appointed 17 May 2023) S Ford (Appointed 15 June 2023) Treasurer A Sansom Secretary A Anthony-Edwards Charity number 1129067 Principal address Church Office, Sunday School Building Market Place Colyton Devon EX24 6JS Independent examiner Mr J L Coombs MA (Cantab) FCA Simpkins Edwards LLP The Summit Woodwater Park Pynes Hill Exeter EX2 5WS Bankers Lloyds Bank Trinity Square Axminster Devon EX13 5AL CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling ME19 4JQ

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

LEGAL AND ADMINISTRATIVE INFORMATION

Investment advisors

CCLA Investment Management Limited Senataor House 85 Queen Victoria Street London EC4V 4ET

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 17

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their annual report and financial statements for the year ended 31 December 2023.

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

Aim, Purpose, Objectives & Activities

The Parochial Church Council of the Ecclesiastical Parish of St Andrew, Colyton Devon (Colyton Parochial Church Council) has the responsibility of cooperating with the incumbent, the Reverend Dr Steven Martin, in promoting the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The PCC is also specifically responsible for the maintenance of St Andrew’s Church, Colyton, St Michaels Chapel of Ease, Colyford and the properties known as Tysons, and the Sunday School Building. Since 2019 the PCC have also rented a retail outlet in Colyton in order to run a charity shop, known as The Lantern.

The PCC is committed to enabling as many people as possible to worship in our churches and to become part of both our parish and the Holyford Mission Community. The PCC maintains an overview of this worship and makes suggestions on how our services can involve the many groups that live within our parish. Our services and worship put faith into practice through prayer and scripture, music and sacrament.

When planning activities for the year, we have considered public benefit (including the Charity Commission’s specific guidance for the advancement of religion) and have tried to enable people to live out their faith through:

To facilitate this work it is important that we maintain the fabric of the buildings we are responsible for and make plans for their future.

Members of the PCC sit on both the Holyford Mission Community Council and the Honiton Deanery Synod. This provides the PCC with an important link between the parish and the wider structures of the church.

The PCC also supports the vision and strategy of the Exeter Diocese. We seek to be people who together are growing in prayer, making new disciples and serving the people of Devon with joy.

We would like to thank all the volunteers who work so hard to make our church communities what they are, in many and varied roles, including those who work in The Lantern Shop. The support of both the Friends of St Andrews and St Michaels is also much appreciated. The PCC relies on all of its volunteers continuing to give their time and talents in order to pursue all its work. New volunteers are always wanted and welcome.

Financial review

Total incoming resources were £233,215 (2022: £168,520) and total resources expended were £220,942 (2022: £173,631) giving a net surplus of £12,273 (2022: £5,111 deficit) before the revaluation of investments. Full details are as detailed in the financial statements.

In response to its previously noted diminishing reserves, the PCC in 2020 began a detailed review of all its finances, which includes the intension to rebuild reserves. The guidance and work of the finance team continues and it has been resolved to maintain a balance of general unrestricted funds which equates to £60,000. The current economic situation continues to provide challenges for both income and expenditure.

The PCC is aware that for the fifth year in succession it has been unable to pay its Common Fund contribution in full. The shortfall now totals £182,352 (2019: £20,000, 2020: £45,030 2021: £45,884, 2022: £24,441 and 2023: £45,120).

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

Risk

The PCC have given consideration to the major risks to which the parish is exposed and confirm that systems have been established to reduce those risks.

Safeguarding

The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have regard to House of Bishops’ guidance on safeguarding children and vulnerable adults). We wish to thank the Safeguarding Team who co-ordinate and organise the compliance.

Achievements & Performance: Structure, Governance & Management

The method of appointment of PCC members is set out in the Church Representation Rules. All members of the congregation are encouraged to register on the Electoral Roll and stand for election to the PCC.

The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including financial matters. The full PCC met five times during the year and has a good level of attendance. Given its wide responsibilities the PCC has a number of sub groups and committees each dealing with a particular aspect of parish life. These are all responsible to the PCC and they report back regularly with minutes of their decisions and recommendations being received by the full PCC and discussed as necessary. A summary of these committees’ work, objectives, activities, achievements and performance are published in a separate document and are available in both electronic and paper versions at the time of the annual meeting. Please do ask for/collect a free copy.

St Andrews Church Colyton and St Michaels Chapel of Ease Colyford are part of the Diocese of Exeter within the Church of England. The correspondence address is The Church Office, Sunday School Building, Market Place, Colyton, Devon EX24 6JS. The PCC is a body corporate (PCC Powers Measure 1956, Church Representation Rules 2020) and a charity (Registration number 1129067).

The trustees who served during the year and up to the date of signature of the financial statements were: A Sansom

C O P Sansom V Mills T J White Revd Dr S Martin

M Bremridge J Dauncey H Long W M Brooks N Brown J Hoare M Ousley H Smith A Anthony-Edwards J Preece N McNiece S Ford

(Appointed 17 May 2023) (Appointed 17 May 2023) (Appointed 15 June 2023)

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees' report was approved by the Board of Trustees.

C O P Sansom Trustee Dated: 22 March 2024

Revd Dr S Martin Trustee Dated:22 March 2024

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

I report to the trustees on my examination of the financial statements of The Parochial Church Council of the Ecclesiastical Parish of St Andrew, Colyton, Devon (the charity) for the year ended 31 December 2023.

Responsibilities and basis of report

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

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

Independent examiner's statement

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

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

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:

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.

Mr A Hemmings BA(Hons) FCA CTA

for and on behalf of Simpkins Edwards LLP

The Summit Woodwater Park Pynes Hill Exeter EX2 5WS

Dated: 31 October 2024

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
2
100,835
69,755
Charitable activities
3
60,963
-
Investments
4
682
980
Total income
162,480
70,735
Expenditure on:
Charitable activities
5
131,760
71,687
Other
6
17,495
-
Total expenditure
149,255
71,687
Net gains/(losses) on
investments
10
249
785
Net incoming/(outgoing)
resources before transfers
13,474
(167)
Gross transfers between
funds
5,883
(5,883)
Net movement in funds
19,357
(6,050)
Fund balances at 1 January
2023
432,820
68,689
Fund balances at 31
December 2023
452,177
62,639		 Total Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
170,590
90,956
13,020
60,963
63,644
-
1,662
314
586
233,215
154,914
13,606
203,447
152,471
1,458
17,495
19,702
-
220,942
172,173
1,458
1,034
(351)
(1,096)
13,307
(17,610)
11,052
-
-
-
13,307
(17,610)
11,052
501,509
450,430
57,637
514,816
432,820
68,689		 Total
2022
£
103,976
63,644
900
168,520
153,929
19,702
173,631
(1,447)
(6,558)
-
(6,558)
508,067
501,509

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

BALANCE SHEET

AS AT 31 DECEMBER 2023

Notes
Fixed assets
Tangible assets
12
Investment property
13
Investments
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
The funds of the charity
Restricted income funds
17
Unrestricted funds		 2023
£
10,831
152,719
163,550
30,080		 £
4,050
365,336
11,960
381,346
133,470
514,816
62,639
452,177
514,816		 2022
£
1,132
215,197
216,329
96,482		 £
5,400
365,336
10,926
381,662
119,847
501,509
68,689
432,820
501,509

The financial statements were approved by the trustees on 22 March 2024

C O P Sansom Trustee

Revd Dr S Martin Trustee

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Charity information

The Parochial Church Council of the Ecclesiastical Parish of St Andrew, Colyton, Devon is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is The Church Office, Sunday School Building, Market Place, Colyton, Devon EX24 6JS. The PCC is a body corporate (PCC Powers Measure 1956, Church Representation Rules 2017).

1.1 Accounting convention

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

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

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

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

1.2 Going concern

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

1.3 Charitable funds

Unrestricted funds are offerings, donations and gifts and other income received or generated for the objects of the charity, without further specified purposes, and are available as general funds.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Incoming resources

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

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

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

The Parochial Church Council operates a charity shop, 'The Lantern' in Market Square, Colyton receiving donated goods (clothing, household goods, small electrical items, toys, books and smaller items of furniture). Donated goods are accounted for in incoming resources on sale when the benefit to the PCC can be reasonably quantified and measured. The Lantern is entirely staffed by volunteers being managed by the Parochial Church Council.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

Interest is accrued. All other income is recognised when receivable. All incoming resources are accounted for gross.

1.5 Resources expended

Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered. All expenditure has been classified under headings that aggregate all costs related to that category.

The Diocesan Common Fund is accounted for when due. All other expenditure is generally recognised when it is incurred and is accounted for gross.

1.6 Tangible fixed assets

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

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

Plant and equipment

Straight line over 10 years

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

Consecrated and benefice property is not included in the financial statements in accordance with s.96(2)(a)of the Charities Act 2011.

Moveable church furnishings held by the Rector and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the church inventory and can be inspected (at any reasonable time).

The only fixed asset referred to in these financial statements is the organ at St Michaels Chapel of Ease, Colyford.

1.7 Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in net income/(expenditure) for the year.

1.8 Fixed asset investments

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

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.9 Financial instruments

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

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

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

Basic financial assets

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

Basic financial liabilities

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

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

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

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

2 Donations and legacies

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Donations and gifts
28,315
60,755
Legacies receivable
1,000
9,000
Planned giving
44,843
-
Collections and other
giving
14,055
-
Other
12,622
-
100,835
69,755		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
89,070
10,881
-
10,000
-
13,020
44,843
51,522
-
14,055
16,377
-
12,622
12,176
-
170,590
90,956
13,020		 Total
2022
£
10,881
13,020
51,522
16,377
12,176
103,976

Within restricted Gifts and Donations is £59,755 (2022: £Nil) received from 'Friends of St Andrews' in respect of extensive fabric works and the purchase of a new sound system.

3 Charitable activities

Charitable Charitable
Income Income
2023 2022
£ £
Magazine/bookstall 9,118 7,698
Events 6,816 5,197
Parochial fees 12,058 5,139
Church office printing 969 711
The Lantern charity shop 25,527 35,154
Charitable rental income 6,325 5,800
Grant income - 3,720
Building/room hire 150 225
60,963 63,644

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

4 Investments

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Income from listed
investments 682 980 1,662 314 238 334

5 Expenditure on charitable activities

Direct costs
Depreciation and impairment
Diocesan Common Fund
Church running expenses
Church utilities
Clergy and reader expenses
Cost of services
Repairs to church property
Salaries and support costs
Training and children's activities
Miscellaneous expenditure
Grant funding of activities (see note 8)
Analysis by fund
Unrestricted funds
Restricted funds		 Total
2023
£
1,350
43,243
15,100
21,152
4,464
12,638
79,669
13,691
8,021
2,326
201,654
1,793
203,447
131,760
71,687
203,447		 Total
2022
£
1,350
72,000
13,322
16,927
2,905
9,987
18,731
9,222
7,016
2,244
153,704
225
153,929
152,471
1,458
153,929

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

6 Other

Unrestricted
funds
2023
Administration
9,301
Fundraising expenses
6,931
Professional fees
1,263
17,495		 Total
2022
£
10,994
7,838
870
19,702

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. Clergy were reimbursed for any expenditure incurred on behalf of the Parochial Church Council.

8 Grants payable

Charitable
Charitable
Expenditure Expenditure
2023 2022
£ £
Grants to institutions:
Other 1,793 225
Employees
The average monthly number of employees during the year was:
2023 2022
Number Number
2 1
There were no employees whose annual remuneration was more than £60,000.

9 Employees

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

10 Net gains/(losses) on investments

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Revaluation of
investments 249 785 1,034 (351) (1,096) (1,447)

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12 Tangible fixed assets

Tangible fixed assets
Plant and equipment
£
Cost
At 1 January 2023 13,500
At 31 December 2023 13,500
Depreciation and impairment
At 1 January 2023 8,100
Depreciation charged in the year 1,350
At 31 December 2023 9,450
Carrying amount
At 31 December 2023 4,050
At 31 December 2022 5,400

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

13 Investment property

Investment property
2023
£
Fair value
At 1 January 2023 and 31 December 2023 365,336

The investment properties belonging to the PCC have been included at a historic valuation plus additions and comprise:

· Tysons £105,346
· Sunday School building £259,990

The investment properties were last valued in 2013 and the PCC deem this valuation correct as at 31 December 2023. The PCC has noted the date of the last valuation and will look to have both properties professionally appraised in the next accounting period.

14 Fixed asset investments

Listed
investments
£
Cost or valuation
At 1 January 2023 10,926
Valuation changes 1,034
At 31 December 2023 11,960
Carrying amount
At 31 December 2023 11,960
At 31 December 2022 10,926

15 Debtors

15
Debtors
Amounts falling due within one year:
Other debtors
16
Creditors: amounts falling due within one year
Other creditors
Accruals and deferred income		 2023
£
10,831
2023
£
26,703
3,377
30,080		 2022
£
1,132
2022
£
53,163
43,319
96,482

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

17 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 January Incoming Resources Transfers Gains and At 31
2023 resources expended losses December
2023
£ £ £ £ £ £
Choir Bursary
fund 20,345 465 (1,330) - 785 20,265
Organ fund 13,245 426 - - - 13,671
Charity of
James How 866 89 - - - 955
Mission
Community
Childrens Fund 588 - (382) - - 206
Music fund 20,625 9,000 (200) (5,883) - 23,542
St Michael's,
Colyford 3,000 - - - - 3,000
Fabric and
buildings
maintenance 10,020 59,755 (69,775) - - -
Rectors
discretionary
fund - 1,000 - - - 1,000
68,689 70,735 (71,687) (5,883) 785 62,639
Previous year: At 1 January Incoming Resources Transfers Gains and At 31
2022 resources expended losses December
2022
£ £ £ £ £ £
Choir Bursary
fund 22,566 333 (1,458) - (1,096) 20,345
Organ fund 13,072 173 - - - 13,245
Charity of
James How 786 80 - - - 866
Mission
Community
Childrens Fund 588 - - - - 588
Music fund 20,625 - - - - 20,625
St Michael's,
Colyford - 3,000 - - - 3,000
Fabric and
buildings
maintenance - 10,020 - - - 10,020
57,637 13,606 (1,458) - (1,096) 68,689

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

17 Restricted funds

(Continued)

The Choir Bursary fund is held to provide assistance towards members of St Andrew's Choir.

The Organ fund represents funds given towards the repair of the organ at St Andrew's.

The Mission Community Children's Fund represents those funds provided towards children's work in the Mission Community.

The Music fund represents gifts towards music at St Andrews.

The St Michael's, Colyford fund represents funds torwards St Michael's.

The Fabric and Buildings Maintenance fund represents funds towards maintenance costs at St Andrew's, Colyford.

The Rectors Discretionary Fund represents funds available for the rector to distribute to worthwhile causes.

18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
General funds
Previous year:
At 1
General funds		 January
2023
Incoming
resources
Resources
expended
Transfers
Gains and
losses
At 31
December
2023
£
£
£
£
£
£
432,820
162,480
(149,255)
5,883
249
452,177
January
2022
Incoming
resources
Resources
expended
Transfers
Gains and
losses
At 31
December
2022
£
£
£
£
£
£
450,430
154,914
(172,173)
-
(351)
432,820

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

19
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2023
2023
£
£
Fund balances at 31
December 2023 are
represented by:
Tangible assets
4,050
-
Investment properties
365,336
-
Investments
2,918
9,042
Current
assets/(liabilities)
79,873
53,597
452,177
62,639		 Total
Unrestricted
funds
Restricted
funds
2023
2022
2022
£
£
£
4,050
5,400
-
365,336
365,336
-
11,960
2,667
8,259
133,470
59,417
60,430
514,816
432,820
68,689		 Total
2022
£
5,400
365,336
10,926
119,847
501,509

20 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).