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2024-12-31-accounts

ST PETER’S CHURCH, BURNHAM ANNUAL REPORT & ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024 – FINANCE SECTION

Financial Review

2024 was again a mixed year, with improvements in our income in some areas, but there were declines in other areas.

The income we have earned from Fundraising activities has increased this year (£10,736 vs £6,714) driven by an increased number of trips this year. The Social and Fundraising committee have lots of great ideas for this year and we thank them for all their hard work. This year we saw a reduction in Cornerstone Hire income (£7,947 vs £10,188) as a number of regular hirings ceased during the year.

There has again been a decline in overall Planned Giving this year (£38,247 vs £41,205), the giving from the Planned Giving Scheme (PGS) has decreased this year and there has been a reduction the number of donors by the end of the year. This is the best way of making regular contributions as the PGS Administrator also makes monthly Gift Aid claims which greatly aids our cashflow.

The amounts paid over to external organisations has reduced from 2023, although some of this is timing as monies collected for some charities will be paid over in the current year, please see page F8 for more details, and it is good that we as a Church can support this.

Parish Share – As noted in last year’s report we received a 10% reduction in our Parish Share due to the vacancy, we also continued to receive this reduction in January and February 2025. The Parish Share for 2025 will be £61,690 before the vacancy reduction. This is a reduction from prior years which is very welcome.

The General Fund shows a current year deficit of £2,990, which is a marked improvement on last year; we have charged expenditure we can to the Endowment funds, where we are allowed, 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.

A continuing area of concern are Utility costs, in last year’s report I expressed the hope our costs would be around £13,000 for 2024, they were in fact around £14,000, which was still a large reduction from 2023, but nearly double the amount we were paying prior to the increases that occurred in 2023. We are currently on a two year fix with Parish Buying that expires in September 2025.

Endowment Funds

Endowment fund investments are all in CBF Church of England Funds managed by the Diocese. During the year we have seen a further increase in the income earned of £892 (£25,056 v £24,164). 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 2024 – 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.

This year we received three legacies this year, which greatly helped our overall cash position. The PCC have designated that these funds be used for the projects in the church and graveyard. Funds were used to purchase new mats for the entrances to the Church and Cornerstone, and also towards the work undertaken on the Garden of Remembrance. These amounts are disclosed with title “Church and Grounds” on page F6 of the report.

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 2024 – 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 2024, 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:

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:

  2. to keep accounting records in accordance with section 130 of the 2011 Act; or

  3. to prepare accounts, which accord with these accounting records have not been met; or

  4. 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: 2nd April 2025

Page F3

ST PETER’S CHURCH, BURNHAM ANNUAL REPORT & ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024 – FINANCE SECTION

Financial Statements for the year ended 2024 Receipts and Payments Accounts

Note
RECEIPTS
Voluntary Receipts
Planned Giving
Collections at Services
All other giving/voluntary
receipts
5a
Gift Aid Tax Recovered
Activities for Generating
Funds
5b
Investment Income
5c
Church activities
5d
Sub Total
Church Groups (own
bank account)
4
Total Receipts
PAYMENTS
Church activities:
Parish Share
Clergy & Staffing Costs
Church Running Expenses
5e
Fundraising Costs
Mission Giving &
Donations
5f
Church Groups (own
bank account)
4
Total Payments
Excess of receipts over
payments
Transfers between funds
Cash at bank & in hand at
1st January
Cash at bank & in hand at
31 December		 Restricted
Endowment
TOTAL
TOTAL
General
Designated
Funds
Funds
2024
2023
£
£
£
£
£
£
38,247
0
0
0
38,247
41,205
7,669
0
0
0
7,669
9,205
6,274
9,500
5,174
0
20,948
10,293
11,290
0
546
0
11,836
12,388
Unrestricted Funds
63,480
9,500
5,720
0
78,700
73,091
18,683
0
0
0
18,683
16,902
153
0
0
29,372
29,525
27,498
4,949
1,292
0
0
6,241
7,140
87,265
10,792
5,720
29,372
133,150
124,631
0
385
385
620
87,265
11,177
5,720
29,372
133,535
125,251
61,792
0
0
0
61,792
68,478
17,421
0
0
3,778
21,199
20,009
4,717
3,618
1,088
31,941
41,364
36,072
5,712
0
0
0
5,712
2,939
145
660
2,781
0
3,586
6,673
89,786
4,278
3,869
35,719
133,653
134,171
1,204
1,204
225
89,786
5,482
3,869
35,719
134,857
134,396
(2,520)
5,696
1,851
(6,347)
(1,322)
(9,145)
633
(633)
0
0
(1,887)
5,063
1,851
(6,347)
(1,322)
(9,145)
(12,378)
1,921
5,112
84,388
79,043
88,188
(14,265)
6,984
6,963
78,041
77,721
79,043

Page F4

ST PETER’S CHURCH, BURNHAM

ANNUAL REPORT & ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024 – FINANCE SECTION

STATEMENT OF FINANCIAL ASSETS

Cash at bank and in hand at 31st December 2024 2023
Barclays Current Account 1 1,408 1,351
Barclays Current Account 2 424 500
Natwest Current Account 3,703 3,879
Natwest Business Reserve 297 1,551
CBF Deposit Fund 70,952 70,345
Sub Total - bank accounts 76,784 77,626
Cash in hand 0 0
Uncleared cheques 0 0
Sub Total 76,784 77,626
Church Groups (own bank account) 852 1,671
Other Monetary Assets 85 257
Other Monetary Liabilities 0 (511)
TOTAL CASH AT BANK/IN HAND 77,721 79,043

INVESTMENT ASSETS

INVESTMENT ASSETS
Balance Unrealised
Investment		 Balance
B/fwd Gains/(losses) C/fwd
Endowment Funds £ £ £
Perpetual
The Churchyard Trust 1,793 23 1,816
J H Painter Bequest 643,796 13,760 657,556
645,589 13,783 659,372

Page F5

ST PETER’S CHURCH, BURNHAM

ANNUAL REPORT & ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024 – FINANCE SECTION

Designated Funds
Little Angels
Puppets for All at St
Peter’s
Church and Grounds
Environmental Grants
Total Designated
Funds
Endowment Funds
Burnham Church
Estate Charity
The Churchyard Trust
J H Painter Bequest
CBF Deposit Fund
LPWS - VAT Grants
Restricted Funds
Outward Giving
Church Expenditure		 Balance
Balance
b/f
Receipts
Payments Transfers
c/f
0
1,292
(660)
(632)
0
1,671
385
(1,204)
852
9,500
(3,618)
5,882
250
250
1,921
11,177
(5,482)
(632)
6,984
2,052
4,545
(4,828)
1,769
(77)
63
(14)
77,154
20,448
(30,891)
66,711
2,621
3,707
6,328
2,638
609
3,247
84,388
29,372
(35,719)
0
78,041
5,087
4,320
(2,781)
6,626
25
1,400
(1,088)
337
5,112
5,720
(3,869)
0
6,963

Page F6

ST PETER’S CHURCH, BURNHAM

ANNUAL REPORT & ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024 – FINANCE SECTION

5 Receipts & Payments Analysis

Unrestricted Funds Unrestricted Funds Restricted Endowment Endowment TOTAL TOTAL
General Designated funds funds 2024 2023
RECEIPTS
All other giving/voluntary £ £ £ £ £ £
5a Receipts
Gift Aid Envelopes 323 323 1,613
Other Donations 5,951 9,500 1,200 16,651 4,231
Outward Giving 3,974 3,974 4,449
6,274 9,500 5,174 0 20,948 10,293
5b Activities for Generating Funds
Fundraising Activities 10,736 10,736 6,714
Hire of Cornerstone 7,947 7,947 10,188
18,683 0 0 0 18,683 16,902
5c Investment Income
CBF Deposit Fund 3,707 3,707 2,164
Other Interest 20 20 0
Bank Interest 47 47 42
Monkhouse Bequest 86 86 85
Burnham Church Estate 4,545 4,545 4,476
Churchyard Trust 63 63 59
Painter Endowment Fund 20,448 20,448 19,629
LPWGS 609 609 1,043
153 0 0 29,372 29,525 27,498
5d Church activities
Little Angels 1,292 1,292 1,539
Grants 0 0
Parochial Church Fees 4,949 4,949 5,601
4,949 1,292 0 0 6,241 7,140
PAYMENTS
5e Church Running Expenses
Annual Fees/Licences 1,353 1,353 665
Church Repairs & Maintenance 3,618 463 10,421 14,502 5,669
Deanery Share 0 0
Insurance 4,157 4,157 3,870
Office Costs 45 2,487 2,532 2,962
Service Costs 1,127 1,127 3,597
Telephone/Internet/Postage 1,306 1,306 1,131
Utilities 625 13,749 14,374 18,053
Other 2,013 2,013 125
4,717 3,618 1,088 31,941 41,364 36,072

Page F7

ST PETER’S CHURCH, BURNHAM

ANNUAL REPORT & ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024 – FINANCE SECTION

Notes (continued)

Unrestricted Funds Unrestricted Funds Restricted Endowment TOTAL TOTAL
General Designated funds funds 2024 2023
£ £ £ £ £ £
5f Mission, Giving and Donations
Beautiful Gate, Lesotho 446 446 186
Rennie Grove Cancer Care 0 1,095
BBOWT 0 34
Children's Society 1,266 1,266 1,212
Christain Aid 161 161 0
Pastoral Care/Parish Mission 145 145 1,410
Churches Together 0 20
Eco Church 0 51
Turkey/Syria Earthquake Appeal 0 577
Little Angels 660 660 592
Unlock 308 308 453
Burnham Care & Share 600 600 699
Bishops Benevolent Fund 0 224
CCIS 0 50
Centre Point 0 70
145 660 2,781 0 3,586 6,673

Approved by the Parochial Church Council on 2n d April , 2025, and signed on its behalf by:

Mr Peter Lewis (PCC Lay-Chair)

Mr Christopher Knight (PCC Treasurer)

Page F8