ST PETER’S CHURCH, BURNHAM ANNUAL REPORT & ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022 – FINANCE SECTION
## **Financial Review**
In 2022 we have seen a number of encouraging signs of recovery in our financial position. Now that we have been able to meet in person at worship and in fellowship; we have seen a recovery in a number of our income sources. Collections at services have increased by £2,846 (£6,973 v £4,127) which is back to the levels seen in 2019.
The income we have earned from restarting Social events and the innovative ideas the fund raising committee have introduced meant we raised £7,809 this year, vs £3,479 in 2021; and we thank them for all the hard work that has contributed to this. We have also seen an increase in the income from Cornerstone Hire this year of c £3,437 (£6,991 v £3,554), although we are not yet back to the 2019 income.
There has been a decline in overall Planned Giving this year (£43,653 to £46,902), the giving from the Planned Giving Scheme (PGS) has increased slightly which is good news and the number of donors has remained consistent with last year at 43. This is the best way of making regular contributions as the PGS Administrator also makes monthly Gift Aid claims which greatly aids our cashflow.
Other Gift Aid income is down although this is mostly due to a delay in claiming the amounts due from HMRC for the year of c £1,200, which will flow through in 2023.
We have seen an increase in the funds raised and paid over to external organisations, please see page F8 for more details, and it is good that we as a Church can support this.
Parish Share – this was paid in full, and we received the 1% reduction for paying by direct debit, thus the net parish share paid was £75,418. Following the changes in the calculation, the expense for 2023 will reduce to £68,478.
The General Fund shows a deficit of £9,354; we have charged the expenditure we can to the Endowment funds and even with the income we earn from these funds we are spending more than we earn. We are fortunate to have the reserves that the Endowments have provided and hopefully with the return of more events our Fundraising activities will generate more income. The best way to improve our Finances is in the area of Planned Giving; we will be holding a Stewardship Sunday later in the year, and I would ask everyone to prayerfully consider their giving.
One specific area of concern are our Energy costs. Currently we utilise the Parish Buying Energy Basket who negotiate Gas and Electricity for a large number of churches, but even with this our anticipated costs are likely to rise from c£7k in 2022 to potentially over c£17k this year. This will put an added strain on our reserves, and whilst we have received help from the Diocese and some very generous gifts, we can hope that prices reduce as we go into next winter.
## **Endowment Funds**
Endowment fund investments are all in CBF Church of England Funds managed by the Diocese. During the year we have seen an increase in the income earned of £1,689 (£26,487 v £24,798). During 2021 the PCC reviewed the investment strategy, and it was agreed to change some of the investments held, which together with the increase in interest rates has led to the increase in the income received. All investments remain in CBF Church of England Funds. Like all investments the value of the underlying assets can rise and fall in line with market conditions and investment yields are not guaranteed.
Page F1
ST PETER’S CHURCH, BURNHAM ANNUAL REPORT & ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022 – FINANCE SECTION
## **Designated Funds**
Funds designated by the PCC in order that donations such as legacies or other non-general income received are available for special purchases or unexpected events.
## **Reserves Policy**
It should be the policy of every PCC to try to maintain a balance on unrestricted funds which equates to at least three month’s unrestricted payments. It would be held to smooth out fluctuations in cash flow and to meet emergencies. Our endowment funds can only be spent on specific items but do give us a buffer we can rely on for the time being.
_Christopher Knight PCC Treasurer_
Page F2
ST PETER’S CHURCH, BURNHAM ANNUAL REPORT & ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022 – FINANCE SECTION
## **Independent Examiner’s Report to the members/trustees of St Peter’s Church, Burnham, Parochial Church Council**
I report on the accounts for the year ended 31[st] December 2022, which are set out on pages F4 to F8.
## **Respective responsibilities of the Trustees and Independent Examiner**
As trustees of the charity, the members of the PCC are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this 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 General Directions given by the Charity Commission section 145(5)(b) of the 2011 Act; and
- state whether particular matters have come to my attention.
## **Basis of Independent Examiner’s report**
My examination was carried out in accordance with the General 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 the management committee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in a full audit, and consequently I do not express an audit opinion on the accounts.
## **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; or
- to prepare accounts, which accord with these accounting records
- 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.
Tim Berg, FCA Burnham, Buckinghamshire
Date: 29 March 2023
Page F3
ST PETER’S CHURCH, BURNHAM ANNUAL REPORT & ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022 – FINANCE SECTION
## **Financial Statements for the year ended 2022 Receipts and Payments Accounts**
|||Unrestricted Funds|Unrestricted Funds|Restricted|Endowment|TOTAL|TOTAL|
|---|---|---|---|---|---|---|---|
|||General|Designated|funds|funds|2022|2021|
||Note|£|£|£|£|||
|**RECEIPTS**||||||||
|**Voluntary Receipts**||||||||
|PlannedGiving||43,653||||43,653|46,902|
|Collections at Services||6,973||||6,973|4,127|
|All other giving/voluntary receipts|5a|7,398||10,324||17,722|10,671|
|Gift Aid Tax Recovered||11,745||||11,745|13,530|
|||69,769|0|10,324|0|80,093|75,230|
|**Activities for Generating Funds**|5b|14,801|0|||14,801|7033|
|**Investment Income**|5c|88|||26,487|26,575|24,042|
|**Church activities**|5d|7,109|2,208||1,788|11,105|4,917|
|**Sub Total**||91,766|2,208|10,324|28,275|132,574|111,222|
|**Church Groups (own bank account)**|4|0|320|||320|70|
|**Total Receipts**||91,766|2,528|10,324|28,275|132,894|111,292|
|**PAYMENTS**||||||||
|**Church activities:**||||||||
|ParishShare||75,418||||75,418|75,418|
|Clergy & Staffing Costs||16,815|||3,167|19,982|15,029|
|Church Running Expenses|5e|5,325|0|2,908|29,577|37,810|38,438|
|FundraisingCosts||3,010||||3,010|395|
|Mission Giving & Donations|5f|1,700|809|4,042||6,551|3,501|
|||102,269|809|6,950|32,744|142,771|132,781|
|**Church Groups (own bank account)**|4||760|||760|160|
|**Total Payments**||102,269|1,569|6,950|32,744|143,531|132,941|
|**Excess of receipts over payments**||(10,503)|959|3,375|(4,468)|(10,637)|(21,650)|
|**Transfers between funds**||1,149|(1,149)|||0|0|
|||(9,354)|(190)|3,375|(4,468)|(10,637)|(21,650)|
|Cash at bank & in hand at 1st January||(34)|1,716|1,169|95,974|98,825|120,475|
|Cash at bank & in hand at 31 December||(9,388)|1,526|4,544|91,506|88,188|98,825|
Page F4
ST PETER’S CHURCH, BURNHAM ANNUAL REPORT & ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022 – FINANCE SECTION
## **STATEMENT OF FINANCIAL ASSETS**
|Cash at bank and in hand at 31st December|**2022**|**2021**|
|---|---|---|
|Barclays Current Account 1|8,685|12,837|
|Barclays Current Account 2|980|820|
|Natwest Current Account|4,705|2,738|
|Natwest Business Reserve|1,582|1,579|
|CBF Deposit Fund|74,171|79,569|
|**Sub Total - bank accounts**|90,123|97,542|
|Cash in hand|0|0|
|Unclearedcheques|(3,470)|(434)|
|**Sub Total**|86,653|97,108|
|Church Groups (own bank account)|1,476|1,716|
|Other MonetaryAssets|59|0|
|**TOTAL CASH AT BANK/IN HAND**|88,188|98,825|
|**INVESTMENT ASSETS**
**Endowment Funds**
Perpetual
The Churchyard Trust
J H Painter Bequest|Balance
b/f
Unrealised Investment
gains/losses
Balance
c/f
2,021
(400)
1,621
699,014
(117,389)
581,625
701,035
(117,789)
583,246|
|---|---|
Page F5
ST PETER’S CHURCH, BURNHAM ANNUAL REPORT & ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022 – FINANCE SECTION
- 1 The financial statements of the PCC have been prepared in accordance with the Church Accounting Regulations 2006 using the Receipts and Payments basis.
- 2 Burnham Church Estate Charity was established from the sale proceeds of the former infant school. As the managing trustees of the charity are the Churchwardens, the assets of the charity, which are investments in the CBF Investment Fund, are not reflected in these accounts. However, the income from these investments is mandated to the PCC and is included in these accounts. The income is to be used for the repair of the fabric of the parish church and other expenses.
- 3 Two endowment funds are held by the Diocese on behalf of St Peter's. The Churchyard Trust was established to provide income for the maintenance of the church and churchyard so long as two graves and two brass plaques are kept in good order. The J H Painter Bequest was established to provide income for the maintenance of the church and churchyard so long as certain graves are kept in good order and repair.
- 4 The movements in designated, endowment and restricted funds during the year were:
|**Designated Funds**
Little Angels
Puppets for All at St Peter’s
EnvironmentalGrants
**Total Designated Funds**
**Endowment Funds**
Burnham Church Estate Charity
The Churchyard Trust
J H Painter Bequest
CBF Deposit Fund
LPWS - VAT Grants
**RestrictedFunds**
Outward Giving
SoundSystem|Balance
b/f
Receipts
Payments
Transfers
Balance
c/f
0
1,718
(569)
(1,149)
0
1,716
320
(760)
1,276
0
490
(240)
250|
|---|---|
||**1,716**
**2,528**
**(1,569)**
**(1,149)**
**1,526**|
||3,960
4,452
(5,376)
3,036
54
58
0
112
91,448
21,068
(26,212)
86,304
445
965
(953)
457
66
1,732
(203)
1,595|
||95,973
28,275
(32,744)
0
91,504|
||1,169
7,416
(4,041)
4,544
0
2,908
(2,908)
0|
||1,169
10,324
(6,949)
0
4,544|
Page F6
ST PETER’S CHURCH, BURNHAM ANNUAL REPORT & ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022 – FINANCE SECTION
|5
**Receipts & Payments Analysis**
**RECEIPTS**
**All other giving/voluntary**
5a**receipts**
Gift Aid Envelopes
Other Donations
Outward Giving
5b**Activities for Generating Funds**
FundraisingActivities
CornerstoneIncome
Hire of Cornerstone
5c
**Investment Income**
CBF Deposit Fund
BankInterest
MonkhouseBequest
Burnham Church Estate
ChurchyardTrust
Painter Endowment Fund
LPWGS
5d**Church activities**
Little Angels
Grants
Parochial Church Fees
**PAYMENTS**
5e
**Church Running Expenses**
AnnualFees/Licences
Church Repairs & Maintenance
DeaneryShare
Insurance
OfficeCosts
ServiceCosts
Telephone/Internet/Postage
Utilities
Other|Unrestricted Funds
Restricted
Endowment
TOTAL
TOTAL
General
Designated
funds
funds
2022
2021
£
£
£
£
£
£
1,108
393
1,501
1,469
6,290
2,515
8,805
7,616
7,416
7,416
1,586|
|---|---|
||7,398
0
10,324
0
17,722 10,671
7,809
7,809
3,479
0
0
0
6,991
6,991
3,554|
||14,800
0
0
0
14,800
7,033
965
965
49
3
3
0
85
85
82
4,452
4,452
4,306
58
58
53
19,280
19,280 18,072
1,732
1,732
1,479|
||88
0
0
26,487
26,575 24,042
1,718
1,718
340
490
1,788
2,278
7,109
7,109
3.843|
||7,109
2,208
0
1,788
11,105
4,609
240
240
110
2,908
13,183
16,091 13,995
0
0
3,492
3,492
3,999
3,820
1,624
5,444
1,789
3,751
3,751 11,562
1,215
1,215
895
7,526
7,526
5,983
50
50
105|
||5,325
0
2,908
29,577
37,810 38,438|
Page F7
ST PETER’S CHURCH, BURNHAM ANNUAL REPORT & ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022 – FINANCE SECTION
|Notes (continued)
5f
**Mission, Giving and Donations**
Beautiful Gate, Lesotho
British Heart Foundation
Rennie Grove Cancer Care
Burnham Resilience
Children'sSociety
PancreaticCancer
Pastoral Care/Parish Mission
Rainforest from Eco Fair
Eco Church
Royal British Legion
UkraineAppeal
Little Angels
ToiletTwinning
InclusiveChurch
Burnham Care & Share
Bishops Benevolent Fund
CentrePoint|Unrestricted Funds
Designat
Restricted
funds
Endowment
funds
TOTAL
2022
TOTAL
2021
General
£
ed
£
£
£
£
£
395
876
1,271
118
135
135
0
171
171
0
0
127
243
578
821
976
171
171
0
509
509
1,103
0
281
125
240
365
0
292
178
821
999
0
569
569
484
0
120
250
250
0
918
918
0
231
231
0
141
141
0|
|---|---|
||1,700
809
4,042
0
6,551
3,501|
Approved by the Parochial Church Council on 29[th] March, 2023, and signed on its behalf by:
Rev Janet Minkkinen (Vicar of St Peter’s Church)
Mr Christopher Knight (PCC Treasurer)
Page F8
ST PETER’S CHURCH, BURNHAM ANNUAL REPORT & ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022 – FINANCE SECTION
## **PAROCHIAL CHURCH FEES SCHEDULE – SUPPORTING INFORMATION TO THE PCC ACCOUNTS**
The table of Statutory Parochial Fees is on the notice boards in church and Cornerstone. In addition to the statutory fee, the PCC sets the fee for the verger, organist, bells and choir for services such as marriages and funerals together with any other fees such as heating costs; these are included under non statutory fees.
A Fees Treasurer is elected annually by the PCC and a separate bank account is used to receive fees.
|Total fees received during 2022:|Statutory|Fees|Non||
|---|---|---|---|---|
||Due to|Due to|Statutory|TOTAL|
||Diocese|PCC|Fees||
|MarriageService|£872|£576|£1,290|£2,738|
|Wedding banns & certificate||£288||£288|
|Weddingdeposit||£900||£900|
|Funeral service in church|£1,153|£1,031|£1,760|£3,944|
|Crematorium following church service|£299|||£299|
|Funeral service at crematorium|£3,502|||£3,502|
|Burial of Ashes|£1,012|£2,944|£900|£4,856|
|Monuments|£194|£967||£1,161|
|Searches in church registers||£64||£64|
|OtherIncome||£41|£7|£48|
|Wedding deposit/fee held on account||£902||£902|
|**Total**|**£7,032**|**£7,713**|**£3,957**|**£18,702**|
Note: from 3rd Quarter wedding deposits, fees, etc, paid in advance held until service takes place
## TOTAL NUMBER OF SERVICES/OTHER
|TOTAL NUMBER OF SERVICES/OTHER||
|---|---|
|MarriageService|4|
|Funeral Service in Church|10|
|Crematorium following service in church|10|
|Service at Crematorium|17|
|Burial of Ashes|23|
|Monuments|13|
Rev Janet Minkkinen (Vicar of St Peter’s Church)
Mrs Sheila Warburton (Fees Treasurer)
Page F9