REGISTERED CHARITY NUMBER 1129329 THE PARISH OF PENN STREET WITH HOLMER GREEN PCC Report of the Trustees and Unaudited Financial Statements For the year ended 31 December 2023 Dashwoods Accountsnts Limited 31 Dashwood Avenue High Wycombe Bucks HP12 3DZ
THE PARISH OF PENN STREET WITH HOLMER GREEN PCC INDEX TO THE FINANCIAL STATEMENTS Pag• Report of the Trustees 1to5 Report of the independent examiner statement of financial activities Balance sheet Notes to the financial staternents 9t012 Detailed ststement of financial activities 13to14
THE PARISH OF PENN STREET WITH HOLMER GREEN PCC The Injstees present their report with the financial statements of th¢ charity for the year ended 31 December 2023. The trustees have adopted the provisions of the Ststement of Recommended Practice (SORP)'Accounting and Reporting by Charities, issued in March 2005. REFERENCE AND ADMINISTK4TIVE DETAILS Registered Charlty nMmb¢r 129329 PriTrcipal address The Parish Office The Church Centre Featherbed Lane, Holmer Green High Wycombe Buckinghamshire HPIS 6XQ Page I
REFERENCE AD ADmINISTRATE DETAILS Trustees The members who served the PCC during the year were &s follows: Incumbenl Vacant Wardens Mr Rob¢rt Duerdoth Mrs Vivienne Alexandra L¢i8hton-Jon¢s Representatives on the Deanery Synod.. Mrs Vivienne Alexa[ Leighton-Jones Mrs Joan Wainman Mrs Jean Batch¢lor Elected membets: Mr Michael Large (frotu April 2023) Mr Leigh Potkin Mrs Joan Toye Mrs Mary Jay Mrs Judy Knight Mrs Ann Sollars Mr Steve Busler Lay Chair Secret8ry Pa8e 2
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document The PCC is controlled by its governing documenl a deed of tnjst and constitutes an unincorporated charity. Penn Street with Holmer Green Parochial Church Council {PCC) has the responsibility of cooperdting with the incumbent in promoting in the ecclesi&stical parish the whole mission of the church" p&storal, evangelical, swial and ecumenical. The PCC also has the responsibility for the maintenance of Holy Trinity church bLLildiD& at Penn Stree( and the building of Christ ChurclL Holmer Green, together with the Church Centre and the land that formerly contsined Pat30nage HOL, also at Holmer Green. Recrultrnent and appointment of new trustees MembeTS are elected to the PCC at the Annual Parochial Church Meeting. Inductlon and trainlng of new trustses No fornmlised system of training is currently provided but training for specifjc dleS aTe provided on an ad-hoc basis as rquiftd for example. safe-guarding requirement& Organisatlonal structure The 1] PCC met thirteen times during the year. three ofthese meetirAgs were EQMS. The Standing Committee, which did not meet during the year, is authorised by the PCC to transact the bwiness of the PCC betw¢en its meetin8s. subject to any directiorL8 given by the Council. Risk Managernent The trustees have a duty to identify and review the risks to which the PCC is exposed and to ensure appropriate ntrOl5 are in place to provide reasonable assurdnce against fraud and error. It is confirnied that the major risks in connection with the church and its activities, as identified by th¢ PCG have been reviewed and appropriate actions or procedures have been established to manage those risks. Buildin Contsnts and liability insurance are in pIace with the Ecclesiastical Insurance Group. Page 3
ORTECTIVES AND ACTIVITIES Public Worship In-person services continue despite not having an incumballt for a full calendaryear. Utilising regular ministers from ar¢as Olttside the Ewish services have continued unitetTUPted. Services are no longer posted on-line. There is one Service Sunday, alternating between the buildings and style of worship. There were services celebrdting Easter and ChTiStmas. with a Carol Service and Christingle service. weddin fimerals. baptisms and school services continu¢ this year. Church attendance Attendance for worship servica has been an average of 40 people Sunday Mid-week ministri¢s continue unrestrfftcted. A numb¢r of other regular groups of the church also continue to meet. There are currently 78 people on thc electoral roll. of which 39 live in the parish. Aetivities Social and outreach a¢tivities continued this year. These include family socials. church family BBQ. Chrsttnas Tree Festival outrea¢L quizzes, Summer Social. Ther¢ has been on-lin¢ Bible Study, coffee mornings and Lent Course. ACHIEVEMENT AlD PERFORWCE Fund-raising activities. Cream Teas continued throughout the Sunllner and the scheduled annual hiri of Holy Trinity continues. Holy Trinity has been used on more than one occasion as a tv filming location. The Church Centre Ion8 lease continues aTKI there ate signs this will extend beyond two years. People continue their generous regular 8iving pdoMin4ntIY through the Parish Giving plarfomi. which also calculates and pays gift aid on donattons in conjunction with HbKRC. Fund rnising continues albeit at a more modest level this ye. We have a dedicated voluotary resource that is continually sourcing available grants and alternats funding. A drive is under way to renov&ts I refurbish the organ in Holy Trinity. We are currently just under 500/0 of targeL A quinquennial inspection previously delayed due to available funds was catTied out on both churches this year. Any urgenl wofts have been addressed and are being canied ou¢ other works are being scheduled with approptiate grants And fimding being sourced. Page 4
PUBLIC BENEFIT The trustees consider that due regard has been taken in relation to guidance published by the Charity Commission on public benefit. FINANCIAL REVIEW Reserves policy It is the policy of the PCC to maintain the reserves at a level that will help it underpin rLs long- tam con7mitsnents and to loW it to continue its core activities. The Treasurer regularly ass¢sse5 the incoming resourccs profile and ¢ndeavours to maintain reserves to cover annual outgoing Tesources of approximately £IOO,000 for the foreseeable firture in the event that incoming fidS becan]e uncertain. Although the PCC does not currently have positive reserYe4 due to historical expenses relating to Parsonage House. it is reliant on the support of the Oxford Diocese to continue tts orkrntions as it seeks to improve its financial position. Our income is now at & lev¢1 similar to pr&pandemic levels and our bank baIaDce has increased from this time last year. The PCC aspire to a reserve level of 25Yo of annual income. Prlncipal funding sources R¢guiar giving was circa £4,000 lower thall last year, both in person attd via the Parish Giving website. Our overall income rose by just over £13.000 to £112.386 for the year. This was elled mainty by Holy Trinity hiTings and ChuTch Cents? lettings. Expendittwe w85 ogain approximately £4.000 higher than the previous year due to restarting charitable giving and starting the organ renovation. Costs Continue to be monitored and reduced where po&sible. The l(Kal parish ¢ounciJs colltinue to provide valuable supwrt wrth wts to aid the upke¢p of the churchyards. The car¢ of th¢ general grounds is carri¢d out by a small team of parishioners at Holmer Green. We continue to employ a contractor for the upkeep at Penn Street and this now includes the grass cutting at Holmer Green. In this time of fmancial difficulties the PCC is comtnitted to careIlY nwin8 CQSts so that we can continue to provide support to worthy causes and to fjjrther the work of the church ill the local area. The Parish Share w&s paid in full once again this year d¢spite being 570/0 of our totsl expenses. FUTURE DEVELOPMEwrs The plans to redevelop grounds at Holmer Green are moving forward and continue to b¢ managed by th¢ Dio¢ese. Future developments may include th¢ upgradin8 of the sound and acoustic systems and renovating the Church Centre when funds allow. Mr L Potkin - Trustee Mr R Duerdoth - Trustee Page 5
THE PARISH OF PENN STREET WITH HOLMER GREEN PCC INDEPENDE EXAMINER'S REPORT To the mÈmbers of the PCC of the P8rothaial ParoGhial Church Counol ofthe Ecdesia8tical Parish of Penn Street wtth Holmer Green. I rèport lo tho trustees on rny examination of the accounts of the above d)aifty Cthe Tru$n for tt7e yr ¢nd8d 31 Decomber 2023. Responsibiliti88 and b&8is of report As the chanty tnjstoes of thè Tru3t, you are responsibl8 for the preparion of the accounts in 8cGordance 1th the rgquirements of the Charrties Act 2011 nhe Acr). I report in respect of my examination olthe Trusys aUnIS carried out under section 145 of the 2011 Act 8nd In carying otrt my examinion, I havè followed the applicable Directions given by the Charity Commi8sion under Sgchon 14515)(b) of the Act. Independerrt examlnerfs statement Your 8ttenlion is drawn to thè fact that the charity has prepared finan¢ial 8talements in a¢cordance wAth accounting and reporting by Chartbes preparing Ihoir ¥cwnts in aeL0rdan with the Financial Repotting Standard applicablÈ in the UK and Repbulic of Ireland IFRS 1021 In PTefer8nce to the AtJxJunting and Reporting by Charitses.. Statom8nt of Recofflmended Pr8Ctlre issued on 1 April 2CIJ5 which i¥ referred to in the exanl rggulations but has now been wtthdraT). l understand that this has been done in order for financial statsments to PTOVtde a true and f8ir v(ew In ace£idanee wi GeneraltyAccepled Acwjnting Pra¢tise effective for reporbng periods beginnlng on or after 1 January 2015. I have completgd my exsminatson. I COnfin th81 no materi81 mter3 h8ve corne to my attantion in connection wlh the examination Wh gives me cause to belleve that in, any materi r8speGt.' the ae£ounting records were not kept in acLordance with Beltion 130 ofthe Charili8s Ad,. or the awunts did not accord with the accourrting records,. or the accounts did not compty wth th• applicable requiremerrt8 concaming the fom and content of accounts sel out in the Charithes (Accounts and Reports) Regulations 2008 olhÈr than any requtremenl that th¢ accounts give a 'true 8nd fa¢ viewwhith is not a matter considered a8 Part of an independent 8xamination. I hav9 no coneÈms and have (x)me a¢ross no other m8tters in C1)nectIon bwth the examlnalion to whth attention should drdwn in this report in order to enablo a ptopor understanding of the accounts to be reached. R Hawod FCCA Dashwoods Accountants Limhed 31 Dashwood Avenue High Wy¢ombe Bucks HP12 3DZ Page 6
THE PARISH OF PENN STREET WITH HOLMER GREEN PCC STATEMErir OF FINANCIAL ACTMTIES YEAR ENDED 31 DECEMBER 2023 2023 Total Funds 2022 Total Fund8 Unre8trtctad Funds Fund$ INCOMING RESOURCES 10 Incoming rn$Our frr)m generated funds Voluntsry income Activities for generating fvnds Investment income Incomlng r•Bourc from charltabl8 adlviti•s Charitable Aciivities Other Incoming re8our¢ 63,291 5,045 21.881 200 193 63.491 5,238 21.881 67.659 5,417 12,850 4.678 14,597 7.178 14.597 11.054 TOTAL INCOMING RESOURCES 109,493 2,893 112,386 97.264 RESOURCES EXPENDED Costs of ggngrating funds Costs of gen8rating voluntsry irttime Chafftable activitie3 Charitable activtti8S Govemanc8 ¢08ts other r88ourco9 oxponded 11 438 438 692 100.gJ4 835 1,256 2.040 102.944 835 1,649 1110,061 1,028 393 TOTAL RESOURCES EXPENDED 103.434 2.433 105,867 101,781 NEf INCOMEI{EXPENDITURE) 6.059 6.519 {4,517) Other recognised gain8lloBsg6:. GainllLo$$e$l on investrnent assets Transfer5 befvM8n funds NET MOVEMEKf IN FUNDS 8,059 6,519 {4,517) Funds brought fopNard 458.121 458,121 461,238 FUNDS CARRIED FORWARD 464,180 464,640 456.721 CONTINUING OPERATIONS All incoming resour and rwources expended ari$e from continuing athitias.
THE PARISH OF PENN STREET WITH HOLMER GREEN PCC BALANCE SHEEr AS AT 31 fECEMBER 2023 2023 Total Fund8 2022 Total Fund• Funds Fund8 FIXED ASSETS Tangible assets 470.000 470,tY)O 470.(KIO 470.000 470,000 470.000 CURReKr ASSErs Debtors and prepaEnts Cash at bar*k and in hand 120 8,803 12.778 13,238 13.284 13,744 6.923 CREDrroRS: Anmxrnts falling due wbthin 1 year 2,022 1.720 NET CURREKF ASSErs 11,262 460 11,722 5.203 LONG.TERM CREDITORS: 17.082 17.082 17.082 TOTAL NEf ASSET8 464.180 460 464,640 458,121 Rewe8ent8d by. UNRESTRicfED INCOME FUNDS RESTRICTED FUNDS 464.180 464,180 460 458,121 TOTAL FUND8 464.180 458,121 The finanual Statements V•Yre approved by th& Board ofTrustees on. . on its b&h8lf ty.- .and were 8luned L Polkin. Tru8 Mr R Duordoth . Tnrnteo The notes on pages 9- 14 fm an inbjrnl part of these accounts. Page 8
THE PARISH OF PENN STREEf wtTH HOLMER GREEN PCC NOTES TO THE FIMANCIAL STATEMEiirs FOR TtrE YEAR ENDED 31 DECEPIBER 2023 ACCOUNTING POLICIES Ba818 of accountlno statement5 have ai80 been prepared In 8curtsn with the Churth Ac¢>)unting Regulations 26 and vthh tho Ststernert of Recofflm8nd8d PT8(lth'. Accounting and Repffj by CharltleB WBparJng Ihèlr a(xounts in accudarKè vth thè Finandal Reporkng Standard appJi(bb kn the UK Republlc of Ireland IFRS 102) èffoctsve 1 janu 2019 arvl wllh th8 Chathw Act 2011. Th8 finarsixal stotemen18 havè dep8rted from the Chothes IAc£ounts and Rawyt8) Regujatlons 2 onty to the exient wuired to provide a Iwe and f8ir vlvw. Tlws drture ha8 Invow frJllryhlng the Statem8nt of Recommènded Practise for ¢harilles applywig FRS 102 r8therthan thg ver8lon ofth& Stat8menl of Recommended bl Volunthry Income Collectlcffis are gnUSed when recdvad by or on tehowof the PCC. The grft aid tsx that Is redaimabk on tha IB rwnised In the reBer¥es lo whkh th vthen the tsx r•bate is roceNed Into thg bank a0rt. Incom• from In¥•skn•nts Dmdends arè ar4))urrted for vth8n and payable. and IrrtereBt entlllements are a0rted for a5 they ac4Jua. Tax r8coverable on incimnp k8 rerthJnked onlyvhw d) Grants Grants are recogttsed Wh pJ or rd. •) Other Income Funds raised by events are acc¢unted for gn)8& Rental Inconw tr[ the lettsng of church prorthses IB reD)gnlwd when the rwjtsl is due. Sa9 of books ota from the churth b(•)k81dl are aci¥)unt•d for gmss. AJI penditUTe 15 accourted for on an ac(•Jals bast8 aThJ has tgn d888ffied under hoading8 kh aggregate all costs rekted to that cate90ry. Whero co8ts cannot be dlre¢ attnbutgj to POrtKwlar hBadby. thay hava 8lkKat&J lo aclNltles on a ba8L4 c¢nslBtent use olthè Co8t8 otg8[thg funds arg th08e costs Krred in fvnd[0b to 8eek 4ffAuntsry donaOn6. Charitabb a grants made and ¢ts Incurred diredty in the of8xpand6tur8 un the drity8 obJ8cllv88 and irKJde pro]¢ ManageMrt (¥rrted outfrom tho ch8rVs premises. Govfjman )Sts indude those trthrred wilh the govemance ofth• drIty and tts assets and are prfmarty 0$$10d w#h tha comFllanc¢ ofuThknthn81 and statry uIrement& g) AotMtleB dl• rnlatlng to thè Twork of th• chureh The dwsan parfjsh Shate is aco)unlgJ for %4thÈn paKI. th parlth 8har8 unp81d 8tthe r en¢J Is not prnvkJ8d for th8n(xal statements as a Ilabty on the han sh98L
THE PARISH OF PENN STREET WITH HOLMER GREEN PCC NOTES TO THE FINANCIAL STATEMENT8 (COIITINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 h) Tangiblè fixod Depat is provlded at the foikMin9 anNal raies in orderto off each a89et ovèr it3 estimated uselul lif& Equlpment stralght line 25% Flu8 & ffltings strawJht line 25% upon tha radovoknwent and subsequent Sale of prop8ty on the land Ihat once WAS Parsonag8 House. lThJividual rtems ofwuim a wrchase wtce of less than £2(XIO are written off wn the a8set18 ac4uired. CoM•crat0d larKI and Iwildlngj and mov•abl• clmrch Iwnishln Consecral&J and bénefi1 propty is exduded from the aco)Lmts by $1012llal of the Charrties Act 2011. No valuè is placed on moveab]e thurch fvmishings which 8re held by the churthwardens on special trust forthe PCC. These require a faculty for disposal slnce the PCC considers this to be inaliènable Fffoperty. All experwjibjre incwrad during the year con8ecr8ied or beneficed bJilding5 and moveable thurch fumishing3, whether maintenance or improvements. is written ¢)ff a8 expenditure in the stat of financial activit arKI separately dl8do8ed. J) othor land and bulld5ngs The Churth Centre, Holmer Grean is valued at its Fmstorical cost. The lan(1 that fomRdy contained Parsonage House is shuwn at itg estimated market fdlue. No d•FKeci8ti'on 1$ charyd on either. Taxation The PCC is exempifrcrfn tsx on Is chaiitablè aebvitse8. F)d accountlng Unrestiithd ftmdg Can be uwj in xcrKdan with the ch8rNat obiectsves at the disuelion of R8stri4*1 fund8 we funds whth are to be u8ed in acc¢)r(lance Mryth spedfic trICt1)n$ imkxised by donors orwhith have been fdised by the PCC for a particular wrpose. The Gost of ralsing arbj adminlst8rtng such fund5 charged agalnst the unrestricted reserve. Reallsgd and unmlisod galns Urwealised gains and l¢)58es when fixed 388et inveslmerts are induded in the balance sheet at rgvalued 3mounts or market value. They are indude(l in thè ststement of firnal 8ctivitle8 a8 an incoming resource or addition81 depwtatirffi as approprth in the peri¢xl they artse. Realis8d goi and losses are regniSed when an asset is disposed of. ACTivmE8 FOR GENERATING FUND8 2023 2022 3.784 2,443 714 2,603 5.760 Bookslall FurKlraising s(xxal eVrts 5.045 Pase 10
THE PARISH OF PENN STrEET wrrH HOLMER GREEN PCC NOTES TO THE FINANCk4L STATEMENTS {coMfiNUED} FOR THE YEAR ENDED 31 DECEIABER X123 TANGIBLE FIXED ASSETS Freehdd Fixlures & Totals Propty Equijment Ftibngs COST At 1 January2 3rKI 31 Dernb9r 2023 470.OC(I 5S) 0 470,550 DEPRECIATION At 1 January 2023 arKI 31 Dmber 2023 NET BOOKVALUE As at 31 De¢ember2(r23 470.1Y)J 0 470,OCrfJ A8 at 31 Oecember2022 470.LKX) 0 470.C(#) The n8t book value offreehold tw(4)erty 8tts ¢xrrent and prior year balance sheet date i8 ma(Je up of£345,IMJO, bèing the rry1j ue oflhe Church Centr8, and the £125.(KIO. "n9 (rrying value of tho knd that Parsonage House on( ¢)cryJpi&J. is not practicabl8 to qLHnbfy the dSfferenL* the catyrrfJ value and market values but in th8 tru8te88' opinK)n the m8rketV8Jues are not signfficanty dffterent from the car"ng values within thè Munts. FIXED ASSEf IPlvESTMEtrs None re no irNesknent ae8ets Inside or outside the U 2022 120 CREDITORS 2023 Creditoramounts fallng dueIn on8 1022 1.720 Loans from Dic88• 17.082 17,082 Totsl Crwjitors 19.104 18.2 There18 no Interest payatle on th& loans to the DM)cese arvj Th) fixed Schad8. Ryyment 18 du8 upon ts reyekmnt and 5thw4uent8de of kyoperty the kgnd ItrHI one w Parsonage HcMJ8e. PHge 11
THE PARISH OF PENN STREET WITH HOLMER GREEN PCC NOTES TO THE ANAMCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 DONATION8 AND GRANTS TO CHARITIES 2023 Oversea8 Home selar Other Tclal Donations Donatiort6 ClallonS Donations Donation8 PCC 2023 Mlssion Dlrect Defibulator Mercy Ships 200 200 1,256 193 193 Total donailon8 by PCC In 2023 393 1649 The followtrs were paid dir* from groups within ts thurch: Penn Street Ith Holmer Gre PCC 800 800 Total donati( by grou 800 800 Totsl don8tKM8 393 2056 2449 PaBe 12
THE PARISH OF PENN STREET WITH HOLMER GREEN PCC DETAILED STATEMENT OF FINANCIAL ACTIVITIE3 YEAR ENDED 31 DECEMBER 2023 INCOMING RESOURCES 2023 Totsl Funds 2022 Total Funds Unrestrlctad Fund R•Stred Fund• Voluntsry Income Bank standing orde Income tax recx)verable- gift aid Free will giving ServKe collectn$ Donations. gfft days. per80nal gifts et( Youth club 47.164 10,564 47,164 10,564 49.472 11,303 793 4.770 793 4,970 350 6.534 200 63.291 200 63,491 67.659 Actlvllles for goTatIng funds Teas and otherfund raising Cren teas Bookstall Fundraising 8orA81 av8nis -342 2,443 714 2,603 5,417 3,784 3.784 462 799 5.045 193 193 5,238 Invostmont Income Church Centre letting8 Bank intertsl Waykave DwiderKls on War Bonds 21,850 31 21.850 31 12.850 21,881 21.881 12.850 Incomlng re4ourc08 from charlt•ble actmtles Grants 1,100 Parochial foes paid to th8 PCC 3.578 4,678 2.500 3,600 3.578 7.178 6.419 4,635 11,054 2,5CKI Othar Incomlng rMourc88 Insurance ¢laim$ and other incom? Holy Trinty lettings 4,597 10,000 14.597 4.597 10,000 14.597 1,400 1,684 Total incomlTrJ r8fourc 109.493 2,893 112.386 Page 13
THE PARISH OF PENN STREET WITH HOLMER GREEN PCC DEfAILED STATEMEKf OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2023 10 RESOURCES EXPENDED 2023 Total Funds 2022 Total Funds Unrestrlcted Restrlcted Funds Funds Costs of goneratlng voluntary income Bookstsll expenditure 438 Charltsble Actlvlli88 Insurance Parish share Church running expenses Assistant staff 8xpenses Upkeep of churchyard Church Centre nrnlng o)sts Small Hall Fees to ODBF Upkeep of services Christ Church maintenance Holy Trinity maintenance Honoraria Working expenses incumbent I derk FdraisI YoLrth club Social acbwties 6,018 80.134 4,137 6.018 60.134 4.137 5,726 63,771 1,633 14,677 780 14.677 17,509 118 2.040 2.748 5.161 502 1,293 4.766 5.161 3,166 105 180 10 2040 102944 100.061 Govemance Costs Accountancy Bank charges 756 79 128 835 1,028 Other resources expended Overseas missions Christian relief and development Home missions and church sCleS Secular Char85 Loan account 393 1.256 1,256 1.256 393 1,649 Total resoum expended 103,434 2.433 105,867 101,781 Page 14