# **The Parochial Church Council of the Ecclesiastical Parish of**
## **Chalfont Saint Giles (Diocese of Oxford)**
Otherwise known as: **PCC of Chalfont St. Giles**
# **Annual Report and Financial Statements for the year ended 31[st ] December 2023**
**Rector:** The Rev’d Dan Beesley
**Registered Charity Number 1129372**
**www.csgparish.church**
**CONTENTS**
|1|Who are we?|Who are we?|A1|
|---|---|---|---|
|2|What do we do?|||
||2.1|Aims and Purposes|A1|
||2.2|Objectives and Activities|A1|
|3|Review of the year|||
||3.1|Worship, Prayer and Discipleship|A1|
||3.2|Pastoral Care|A2|
||3.3|Missionary|A2|
||3.4|Outreach|A3|
||3.5|Premises|A4|
||3.6|Ecumenical Relationships|A4|
|4|Financial Review|||
||4.1|Financial Position|A5|
||4.2|Commentary on Receipts and Payments|A5|
||4.3|Looking Forward to 2024 and beyond|A5|
||4.4|Reserves Policy|A6|
|5|Deanery Synod||A6|
|6|Risk Management|||
||6.1|Risk register|A6|
||6.2|Safeguarding|A6|
||6.3|Financial Risks|A7|
|7|Structure, Governance and Management|||
||7.1|Parochial Church Council (PCC)|A7|
||7.2|Standing Committee|A7|
||7.3|Other Committees and Groups|A7|
||7.4|Volunteers|A8|
|8|Administrative Information|||
||8.1|Correspondence Address||
||8.2|PCC Members (Trustees)|A8|
|9|Independent Examiner’s Report||A11|
|10|Financial Statements||A12 - A17|
## **Annual Report of the Parochial Church Council January to December 2023**
## **1 Who are we?**
Chalfont St. Giles (CSG) Parish Church, High Street, HP8 4QF is one of two churches in the Benefice of Chalfont St. Giles, Seer Green and Jordans. The Parochial Church Council (PCC) of CSG is a registered charity no. 1129372
The other church in the Benefice is Holy Trinity, Orchard Road, Seer Green, Buckinghamshire, HP9 2YA. Holy Trinity is a separate charity no. 1175583. Both churches are part of the Church of England.
## **2 What do we do?**
## **2.1 Aims and Purposes**
The PCC of CSG has the responsibility of working alongside the Rector, the Rev’d Dan Beesley, in promoting in the parish the whole mission of the Church - pastoral, evangelistic, social and ecumenical. It is responsible for the maintenance and management of the church buildings and fabric. This includes the Reading room, a 40-seat, Grade 2 listed building which is available for hire by the community.
## **2.2 Objectives and Activities**
The PCC is committed to enabling as many people as possible to worship at the church and become part of our parish community. The PCC maintains an overview of worship throughout the parish and considers how our services can involve the many groups who live within the parish. Our services and worship put faith into practice through prayer and scripture, music and sacrament.
When planning our activities for the year, the Rector and PCC have considered the Charity Commission’s guidance on public benefit and the supplementary guidance to charities for the advancement of religion. We try to enable people to live out their faith as part of our parish community through:
- worship and prayer, learning about the Gospel; developing their knowledge and trust in Jesus;
- provision of pastoral care for people living in the parish; and
- missionary and outreach work beyond the immediate church community.
## **3 Review of the year**
## **3.1 Worship, Prayer and Discipleship**
The Rector, clergy and PCC aim to offer a range of services on Sundays, during the week and over the course of the year that enable our community to draw closer to God, worship with one another, and develop in spiritual maturity.
A1
The principal act of worship each week takes place on Sundays at 9.30am and is the Parish Communion. A service of Holy Communion according to the Book of Common Prayer (BCP) is held at 8am. A contemporary service known as ‘Connect’ was introduced in January. This well received by visitors, e.g., attending for baptisms. However, core attendance has not been maintained at a sustainable level. In early 2024 the PCC will need to consider whether the service should be paused while significant changes are made, including time/location.
In September, a full programme of Sunday evening services was reinstated. These include choral evensong, Holy Communion with healing prayer and other types of spirituality, including, e.g., Celtic Reflection.
During the week, there are 3 Home groups with a fourth due to start in early 2024. There is a monthly mid-week Holy Communion service. A morning prayer service is held Tuesday to Friday on Zoom.
For children and young people, there is an evening get-together for teenagers called Y-zone, Messy Church is held once a month and a children’s group has recommenced meeting during the sermon on Sunday mornings.
All are welcome to attend our services. At January 2023 there were 150 on the electoral roll, rising to 153 at December. The average weekly attendance across all regular services, counted in October 2023, was 76 (aged 16 & over) + 12 (under 16). Attendances were, of course, higher at services celebrating the major Festivals and other events, e.g., Remembrance.
During 2023 the church was used for:
- 10 baptisms
- 5 confirmations _(4 CSG, 1 Seer Green)_
- 3 weddings
- 12 funerals & 4 memorial services
- 6 interment of ashes in churchyard
In addition, our clergy took 4 funerals away from church at local crematoria.
## **3.2 Pastoral Care**
The Rector and PCC are committed to the pastoral care of all people in the CSG parish. Holy Communion is taken regularly to several housebound parishioners and others as and when required. Visits are made to people who are unwell at home or in hospital with the assistance of the Pastoral Care team. Appropriate safeguarding training and measures are in place.
## **3.3 Missionary**
We support and promote the work of several charities
- **Transform Trade** works to reduce poverty by encouraging trading fairly with marginalised groups and campaigning against unjust trade rules. The church remains a certified fair-trade church and regular stalls are held in
A2
church selling goods from fair trade producers, many of which are not generally available in the shops. Members respond to periodic appeals for the Chiltern Trussel Trust foodbank using these products.
- **Street Kids Direct** is led by Steve and Lindsey Poulson and works with vulnerable young people in Honduras. It provides mentoring, creates safe spaces for at-risk children and young people to grow, and supports local project development.
- **A Rocha UK** – Helps equip churches to care for creation. In 2022, we were awarded the silver award.
- **Fawsett Trust** - is a local charity, originally established in 1905, and working with other groups in supporting our elderly village residents with vouchers at Christmas, exchangeable only in the village shops and so also helping them. The Trust received contributions from the PCC, the Village Show, Helping Hands and Bucks C. Council Community Board and further individual contributions which enable this work to continue. Members of the church, including the Rector, are involved in the Board of Trustees.
- We have also supported the **Mission to Seafarers** (through Christmas card sales), **Altogether Community** (through Harvest gifts and the Toy service) and the **Trussell Trust** .
During 2023 the charities listed below were supported by donations from Church funds, or collections taken, or other fund-raising activities.
|
Rennie Grove Hospice Care (Lent lunches)
Street Kids Direct Honduras
A Rocha
Transform Trade
Fawsett Trust
Total
British Legion (Poppy appeal)|£
1,135
735
735
735
735
4,075
257|
|---|---|
## **3.4 Outreach**
The Church seeks to reach out in service to the local community. It runs a Mother and Toddler’s group, known as Chatterbox, when up to 20 toddlers with a parent, grandparent or carer gather in the Reading room on Thursday mornings during term-time. Following Chatterbox, the church operates Rendezvous which provides an opportunity for chat and light refreshments. Once-a-month, the Naomi group for widow(er)s meets at Rendezvous. Sadly, weekly attendance at Rendezvous has not yet recovered to pre-Covid levels.
During the 6 Fridays of Lent, the church provides ‘Lent lunches’ when home-made soup, bread and cheese are served. Deliveries are also made to local businesses. In 2023, £2,270 was raised which was split between Rennie Grove Hospice Care and the Reading room.
The Rector and PCC seek to support the work of the village school. Members of
A3
the clergy take school assemblies and host visits to the church by pupils and parents for special events.
The church supports the under-11s Chalfont Wasps football team (providing halftime refreshments for spectators) and other village activities, e.g., the village show, Christmas light switch-on, etc
.
## **3.5 Premises**
The church building is an important historic facility in the community. Parts of the building date back to the 12[th] century, with additions in several subsequent centuries. It contains mediaeval wall paintings and other historic features. From April to September, the church building was open daily to visitors, thanks to a dedicated group of ‘Church watch’ volunteers. The church is also used for certain community events, e.g., it is used for talks in the Chalfont St. Giles Literary Festival.
The Reading room is an important community facility in the centre of the village. It is available for hire.
The PCC is responsible for the church building and the Reading room. The last Quinquennial survey was conducted in 2022. During 2023, work on the church building mainly consisted of essential maintenance items. In the churchyard, there are over 40 substantial trees. A substantial Lawson Cypress tree near one of the entrances gave cause for concern and was removed. A pruning survey was carried out and further tree work will be carried out in 2024. Other major work in the Churchyard involved rectifying the hole caused by a sunken grave and restoring the grave to its original condition.
The Reading room was redecorated internally. A proposal to redecorate the exterior was delayed. The planning authority is insisting on the use of limewash. This is considered inferior and more expensive than modern alternatives. Evidence is being compiled to appeal the decision.
The generous help of the Friends of the CSG Parish Church both financially and in voluntary labour in maintaining the church and Reading room is gratefully acknowledged.
## **3.6 Ecumenical Relationships**
The church maintains links with the other CSG churches - Deanway United church and the Living Word International church through joint services from time to time. The church has good relations with other churches in the area and our ministers help other churches in interregnum by taking services. They also participate in prayer meetings of church ministers.
**4. Financial Review**
A4
## **4.1 Financial Position.**
The original budget for 2023 showed a deficit of £40k. The actual deficit at year-end was £33k. Because of favourable market conditions during the same period, church investments increased in value by £25k. Total reserves at year-end were £305k, an overall reduction of £8k.
## **4.2 Commentary on Receipts and Payments** .
Total Receipts received in 2023 were £126k which was c£5k above budget. Regular giving by church members was £2.5k above budget and there were favourable balances in offerings and donations. £18.8k was recovered from the Gift Aid scheme, up from £17.4k in 2022. On Fundraising activities, an increase in wedding fees was offset by a decrease in other fundraising activities. Reading room receipts were £2k below budget due to lower than expected letting fees and the Lent lunches surplus. There was an increase of £5k in Other Receipts, primarily due to a donation of £6k from the Friends of CSG Parish Church towards the cost of repairs/redecoration within the Reading room
.
Total payments were £2k less than budget. Reading room internal repairs and redecoration were £9k above budget. A saving of £5k in energy costs, offset by an increase in churchyard maintenance resulted in Church operating costs being £3k lower than expected. Church activities costs were £4k less than budgeted mainly due to the cessation of the temporary Children and Families administration post. The saving in Management and Administration of £4k was mainly due to a vacancy in the church office following the resignation of the p/t administrator in May. The largest item of expenditure was our Parish share of the Oxford Diocesan Fund (£81k).
## **4.3 Looking forward to 2024 and future years.**
The PCC approved a budget for 2024 with income of £128k and expenditure of £158k, a deficit of £30k. The budget provides for recurring income and payments. No provision has been included for bequests, unanticipated grants nor expenditure on major projects or initiatives.
During 2023, the Finance Committee reviewed many aspects of the church’s income and expenditure and this work will continue in 2024 with a view to reducing the budget deficit.
The route of HS2 goes under the village and HS2 has a scheme for making grants to community groups. There is a pressing need for improvements to the Reading room to provide better disabled access, cloakroom facilities, energy efficiency, storage facilities and the kitchen area. Investigations have started with the intention of submitting a grant application to HS2. Only the community element (i.e., nonchurch), would be eligible. The church would be responsible for funding of the remainder. Nevertheless, this presents an exciting opportunity that the PCC wishes to pursue. A working Group is being formed, to include members of the community, to progress an application.
## **4.4. Reserves Policy**
A5
In 2023, the PCC decided that a reserve should be maintained sufficient to cover between 6 and 9 months of anticipated recurring annual expenditure (£140,000 as at 31 December 2023). As a minimum, the equivalent of 6 months’ recurring costs would be held in unrestricted funds in cash or other liquid assets. As at 31 December 2023, liquid funds were £80,000, marginally above the minimum reserve. The Finance Committee will keep this under review to ensure adherence to the policy.
## **5 Deanery Synod**
The PCC is allowed 3 lay representatives at Deanery Synod although only one place was taken up in 2023. Attendance at Deanery Synod provides an important link between the parish and the wider structures of the church. In 2023, Deanery Synod met 3 times. The following topics were considered:
- Community engagement including examples from 2 churches
- Deanery mission partners, Steve & Lindsay Poulson, reported on their work with young adults in Honduras
- Safeguarding developments
- The Deanery contribution to Diocesan finances and the 2024 Parish share
- A report on General Synod major issues from the General Synod representative
- The role of music in Worship
## **6 Risk Management**
The PCC has policies covering a broad range of risks – health & safety, financial management, Reading room operations, conflicts of interest, personnel, etc. Health & safety training is provided for key holders (e.g., Church watch volunteers). The Fabric Committee always considers health & safety when carrying out its responsibilities. Risk Assessments are also prepared for special services.
## **6.1 Risk Register**
The PCC maintains a register of the principal risks and uncertainties to which it is exposed. It assesses the impact and likelihood of each risk and the steps to be taken to manage the risk. This was reviewed in January 2024.
## **6.2 Safeguarding**
The PCC takes the safeguarding of children and vulnerable adults very seriously. It is a standing item at each PCC agenda where amongst other things, the Diocesan dashboard for the parish is reviewed. A refresh of safeguarding signage is being undertaken. The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016, to have due regard to the House of Bishops’ guidance on safeguarding children and vulnerable adults.
**6.3 Financial Risks**
A6
Most of our income is derived from donations and offerings. The biggest financial risk to our finances apart from the loss of regular donors, would be unwise investment of reserves where significant funds are held. A cautious approach is taken in investment of these funds. £219k was held in investments with the CBF Church of England Investment Fund and £6.7k in the COIF Charities Investment Fund with the balance being cash in hand and at bank. Where appropriate, the Church also maintains adequate insurance across all identified risks.
## **7 Structure, Governance and Management**
## **7.1 Parochial Church Council (PCC)**
The PCC is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The method and appointment of PCC members is set out in the Church Representation Rules. The PCC is registered with the Charity Commission under the full title of “The Parochial Church Council of the Ecclesiastical Parish of Chalfont St. Giles (Diocese of Oxford)” with a working name of “PCC of Chalfont St. Giles” (Charity no. 1129372). The members of the PCC are the trustees of the charity.
There are 12 positions on the PCC. Voting for PCC members takes place at the Annual Parochial Church Meeting. PCC members are elected to serve for a term of 3 years. All church attendees are encouraged to register on the Electoral Roll and consider standing for election to the PCC. The clergy and churchwardens are exofficio members of the PCC. The PCC can also co-opt members.
The PCC meets 6 times per year for normal business. In 2023, average attendance was 11. It is responsible for making decisions on all matters of general concern and importance to the parish including deciding on how funds are to be spent. Special meetings are held if required.
Resources for new PCC members (trustees) are provided by the Charity Commission and the Diocese.
Some of the work of the PCC is delegated to various committees, as described in the following paragraphs.
## **7.2 Standing Committee**
The Standing Committee is the only committee legally required. It has power to transact the business of the PCC between meetings, subject to any directions given by the PCC. The Standing Committee would meet if any urgent matter arose which could not wait until the scheduled PCC Meeting. It has also acted as the executive arm of the PCC, including setting the agenda for meetings.
## **7.3 Other Committees and Groups**
Other committees and groups assist in the running of the church:
- The Finance Committee assists the Treasurer in his financial management role.
- The Fabric Committee looks after the church building, churchyard and Reading room maintenance.
A7
- The Discipleship and Missions Committee looks to encourage spiritual growth at all stages of the Christian life - introduction to the faith, preparation for baptism/confirmation, life-long learning and growth of each member together with outreach both within the local community and further afield.
- The Worship & Prayer Committee provides detailed planning for the programme of church services
- The Children & Families Strategy Group considers ways to develop the church’s ministry to children and young people.
- The Flower Guild arranges floral displays for church services and special events like weddings and funerals. They run Christmas wreath making evenings.
- The Pastoral Care team helps the clergy with this aspect of the church’s ministry. Whilst the Eco-Committee is not currently meeting, there are individuals that promote this activity.
## **7.4 Volunteers**
The achievements of the PCC are only possible because of the many volunteers who give generously of their time and energy. Volunteers undertake a wide variety of tasks including (but not restricted to) membership of the various committees and pastoral care, building and grounds maintenance, stewardship of finances, church cleaning, flower arranging, musicians and choir, children’s and youth activities, welcome desk/sidespersons, assistance with the service of Holy Communion, intercession leaders, lesson readers, Reading room bookings & management, serving tea & coffee, and general administration. The PCC gratefully acknowledges all such contributions.
## **8 Administrative Information**
## **8.1 Correspondence address**
The correspondence address is Chalfont St. Giles (CSG) Parish Church, High Street, Chalfont St Giles, HP8 4QF. The correspondence contact is the Rector (Rev’d Dan Beesley)
## **8.2 PCC Members (Trustees)**
The Members of the PCC are the trustees of the charity. During the year, the following served as members of the PCC:
## _(i) Ex Officio_
Clergy:
Rev’d Dan Beesley (Rector) Rev’d Jenny Tebboth (SSM p/t) Rev’d Paul Henderson (SSM p/t) Rev’d Michelle Fotherby (Curate) (July to November)
Churchwardens:
Rachel Leonard (to APCM 2023) Jennifer Wilson (to APCM 2023)
A8
Churchwarden positions vacant from APCM 2023 – statutory duties of role undertaken by the PCC
- _(ii) Elected Members as at 1 January 2023:_
## (a)To APCM 2023
Michael Baldwin Christopher Neville Janelle Stevenson John Southworth Garry Walton Joseph Wiggin Keith Wood-Smith
- (b)To APCM 2024
Tom Boundy Kate Southworth Tracey Wiggin
## (c) To APCM 2025
John Bradley
- _(iii) Elected at 2023 APCM (to APCM 2026)_
Peter Miles Jennifer Wilson
- _(iv) Co-opted at APCM 2023_
John Southworth (Treasurer)
- _(v) Deanery Synod Representatives (also members of PCC):_
Richard Bolton (to APCM 2023) Janelle Stevenson (from APCM 2023) – resigned November 2023
A9
## **Approved by the PCC on 20th March 2024 and signed on their behalf by:**
_J Southworth_ **John Southworth** Treasurer _12 May 2024_
A10
## **INDEPENDENT EXAMINER’S REPORT**
**TO THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHALFONT ST GILES**
_I report to the trustees on my examination of the financial statements of the Parochial Church Council (“PCC”) of the Ecclesiastical Parish of Chalfont St Giles for the year ended 31 December 2023 which comprise the summary of receipts and payments and the statement of assets and liabilities._
_This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011 (‘the 2011 Act’). My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed._
## **Respective responsibilities of trustees and examiner**
_The members of the PCC are responsible for the preparation of financial statements in accordance with the requirements of the Charities Act 2011. The charity’s trustees consider_
_that an audit is not required for this year under Section 144(2) of the 2011 Act and that an independent examination is needed._
_It is my responsibility to:_
- _examine the financial statements under section 145 of the 2011 Act._
- _to follow the procedures laid down in General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and_
- _to 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 financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the statement below._
## **Independent examiner’s statement**
_In connection with my examination, no matter has come to my attention:_
- _a) 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; and_
- _to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the 2011 Act_
_have not been met; or_
- _b) which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached_
_Rupert St Clair-Burton CPA_
_St Clair Accountancy Solutions Limited, Suite A 73, Woodside Road, Amersham, Buckinghamshire HP6 6AA Date: 18 March 2024_
A11
The Parochial Church Council of the Ecclesiastical Parish of Chalfont St Giles
## **STATEMENT OF FINANCIAL ACTIVITY FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Incoming Resources**
**Voluntary Receipts**
**Receipts from Fundraising**
**Receipts from Reading Room**
**Receipts from Church Activities**
**Other Receipts**
**Total Receipts**
**Payments**
**Voluntary Income Costs**
**Fundraising Costs**
**Reading Room Operating Costs**
**Church Operating Costs**
**Church Activities Costs**
**Management and Administration**
**Other Costs**
**Total Operating costs**
_Excess of receipts over payments_
**Non-recurring items**
Project expenditure
Gain (loss) on Market investments
2022 Balance brought forward
**2023 Balance carried forward**|**Notes**|**Unrestricted**
**and**
**Designated**
**Funds**
**Restricted**
**Funds**
**Expendable**
**and**
**Endowment**
**Funds**
**Total**
**2023**
**Total**
**2022**|
|---|---|---|
||**4**
**5**
**6**
**7**
**8**
**9**
**10**
**11**
**12**
**13**
**14**
**15**|£
£
£
£
£
95,505
1,000
0
96,505
109,348
12,429
2,677
0
15,106
13,681
4,413
0
0
4,413
4,952
2,051
0
0
2,051
1,826
1,096
6,541
0
7,637
10,566|
|||**115,494**
**10,218**
**0**
**125,712**
**140,374**|
|||2,940
0
0
2,940
1,750
6,704
403
0
7,107
9,124
5,794
9,324
0
15,117
3,633
26,930
0
0
26,930
22,990
90,597
0
0
90,597
92,647
15,066
0
0
15,066
18,419
257
1,135
0
1,392
5,746|
|||**148,287**
**10,862**
**0**
**159,149**
**154,310**
_(32,793)_
_(644)_
_0_
_(33,437)_
_(13,935)_|
|||0
0
0
0
0
0
0
25,042
25,042
(11,103)
110,775
2,188
200,959
313,922
338,962|
|||**77,982**
**1,545**
**226,001**
**305,527**
**313,922**|
A12
The Parochial Church Council of the Ecclesiastical Parish of Chalfont St Giles
## **BALANCE SHEET AT 31 DECEMBER 2023**
|**FIXED ASSETS**
Investments at
valuation
**CURRENT ASSETS**
Cash at Bank and in
hand
Cash of deposit with
Central Board of
Finance
Shawbrook Bank
**Net current assets**
**TOTAL NET ASSETS**|**Unrestricted**
**Funds**
**Designat**
**-ed**
**Funds**
**Restricted**
**Funds**
**Expendable**
**and**
**Endowment**
**Funds**
**Total**
**2023**
**Total**
**2022**
0
0
0
226,001
226,001
200,959|
|---|---|
||4,090
9,449
1,544
15,084
48,859
7,444
11,999
0
0
19,443
18,839
0
45,000
0
0
45,000
45,266|
||**11,534**
**66,447**
**1,545**
**0**
**79,527**
112,963|
||**11,534**
**66,447**
**1,545**
**226,001**
**305,528**
313,922|
The financial statements were approved by the Parochial Church Council on 20[th] March 2024 ..
A13
The Parochial Church Council of the Ecclesiastical Parish of Chalfont St Giles
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1 ACCOUNTING POLICIES**
## **Basis of preparation**
The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and Recommended Practice "Accounting and reporting by charities" (revised 2005).
The accounts are drawn up on the basis of "Receipts and Payments " (rather than "prepayments and accrual" accounting) as permitted by the Charity Commission for charities with a turnover of less than £250k a year. They are also drawn up under the historical cost convention as modified by the inclusion of investment assets at market value.
## **Incoming resources**
Offerings and donations received for the general purposes of the charity are included as Unrestricted Funds. The relevant Gift Aid is shown separately. Donations whose application is restricted by the wishes of the donor are taken to Restricted Funds. Incoming resources are all accounted for gross and planned giving, collections and donations are recognised when received. Grants and legacies are accounted for when the PCC is legally entitled to the amounts due.
Investment income, dividends, interest, and tax recoverable are accounted for when received. All other income is generally recognised when it is receivable.
## **Resources expended**
The church has followed the practice of writing off 100 per cent of the cost of any additions or modifications to the consecrated land and buildings and contents of the church.
Parish Share is paid regularly and is included in expenditure for the year in which it is paid.
Unrestricted fund grants (including donations to missions) are recognised when determined by the PCC. Amounts received specifically for missions are dealt with as restricted funds and the liability for payment is recognised when the amounts are received.
All other expenditure is generally recognised when it is incurred.
## **Assets and Liabilities**
The following assets are recognised but not attributed a value in the Statement of Assets and Liabilities: *Moveable church furnishings held by the church wardens on special trust for the PCC and which require a faculty for disposal;
*Land and buildings and improvements thereto, held on behalf of the PCC;
*Other fixtures, fittings, and office equipment where the PCC is free to dispose of such assets without faculty and where the original cost exceeded £1,000.
The following assets are recognised, and a monetary value given as part of the description in the Statement of Assets and Liabilities:
*Closing bank balances
*Closing revalued balances on investments
The following liabilities are recognised in the Statement of Assets and Liabilities
*Any loans or overdrafts advanced to the PCC;
*Any arrears of Diocesan Parish Share
A14
The Parochial Church Council of the Ecclesiastical Parish of Chalfont St Giles
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (cont.)**
## **Taxation**
The Parochial Church Council is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted Funds can be used in accordance with the charitable objectives at the discretion of the Trustees. Designated funds are Unrestricted Funds as they are not restricted by the donor and are available for any specified purpose endorsed by the PCC.
Restricted Funds are those donations and covenants where the donor has stipulated that the monies should be used for particular purposes. Any Restricted Funds received have been or will be disbursed for the purposes intended by the donor. All donations to the Fabric Fund for example are used to finance property repairs.
Endowment Funds are those where the donor has donated a capital sum, making the dividend or interest from the fund to be used as stipulated.
## **2. APB ETHICAL STANDARD - Provisions Available for Small Entities**
In common with many other organisations of our size and nature we use our independent examiner to assist with the preparation of the financial statements.
## **3. RESERVES POLICY**
The following policy was adopted by the Parochial Church Council in 2023 to the effect that a minimum reserve will be maintained, sufficient to cover between 6 and 9 months of anticipated recurring annual expenditure which at 31 December 2023 was close to £140,000.
To ensure the ongoing adequacy of this reserve and in accordance with the Charity Commission recommendation, it was agreed that, as a minimum, 6 months of the anticipated recurring costs should be held in unrestricted reserves such that the minimum reserve requirement is covered by cash and other liquid assets.
At 31 December 2023 liquid funds totalled £80,000, marginally above the minimum reserve target and in 2024 reserve movements will be kept under close scrutiny by the Finance Review Committee and, if necessary, investments will be liquidated in order to ensure continued compliance with the agreed policy.
The Parochial Church Council of the Ecclesiastical Parish of Chalfont St Giles
A15
**N**
## **OTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (cont.)**
|**Receipts**
**4 Voluntary Receipts**
Offerings
Donations (inc. Gift Days)
HMRC Gift Aid Rebate
Bequests, Legacies
**5 Receipts from Fundraising**
Wedding and Funeral Fees
Fundraising Events Income
Magazine Income
**6 Receipts from Reading Room**
Reading Room Income
**7 Receipts from Church Activities**
Social Outreach
Children Youth & Messy Church
**8 Other Receipts**
Grants Received
Miscellaneous
Special gifts & Donations for Charities
Interest and Dividends
**Total operating income**
**Asset and Investment Sales**
**Total Receipts**|**Unrestricted**
**and**
**Designated**
**Funds**
**Restricted**
**Funds**
**Expendable**
**and**
**Endowmen**
**t Funds**
**Total**
**2023**
**Total**
**2022**|
|---|---|
||£
£
£
£
£
14,688
0
0
14,688
12,282
62,445
1,000
0
63,445
60,523
18,373
0
0
18,373
17,544
0
0
0
0
19,000
_95,505_
_1,000_
_0_
_96,505_
_109,348_
9,636
0
0
9,636
8,027
2,713
2,677
0
5,390
5,533
80
0
0
80
121
_12,429_
_2,677_
_0_
_15,106_
_13,681_
4,413
0
0
4,413
4,952
4,413
_0_
_0_
_4,413_
_4,952_
1,251
0
0
1,251
1,383
801
0
0
801
443
_2,051_
_0_
_0_
_2,051_
_1,826_
0
6,015
0
6,015
4,462
229
340
0
570
1,793
263
0
0
263
2,553
604
186
0
790
1,758
_1,096_
_6,541_
_0_
_7,637_
_10,566_
115,494
10,218
0
125,712
140,374
_0_
_0_
_0_
_0_
_0_|
||_115,494_
_10,218_
_0_
_125,712_
_140,374_|
||**115,494**
**10,218**
**0**
**125,712**
**140,374**|
The Parochial Church Council of the Ecclesiastical Parish of Chalfont St Giles
A16
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (cont.)**
|**Payments**
**9 Voluntary Income Costs**
Grants Given (inc. tithes)
**10 Fundraising Costs**
Fundraising Event Expenses
Wedding & Funeral Fees to ODBF
Magazine & Publicity
**11 Reading Room Expenses**
Light and Heat
Insurance
Operating Costs
Repairs and Improvements
**12 Church Operating Costs**
Heating and Lighting
Church and Churchyard Maintenance
Insurance
Other Operating Costs
**13 Church Activities Costs**
Parish Share
Organist, Music & Instruments
Social Outreach
Children and Youth Work
**14 Management and Administration**
Travel, Hospitality, Visiting Clergy
Telephone and Internet
Office Admin Staff
Printing and Stationery
Office Other Costs
Audit & Accountancy
PCC & Deanery Expenses
Bank Charges
**15 Other Costs**
Special Gifts and Donations to Charities
**Total Operating Costs**|**Unrestricted**
**and**
**Designated**
**Funds**
**Restricte**
**d Funds**
**Expendable**
**&**
**Endowment**
**Funds**
**Total**
**2023**
**Total**
**2022**|
|---|---|
||£
£
£
£
£
2,940
0
0
2,940
1,750
_2,940_
_0_
_0_
_2,940_
_1,750_
1,454
403
0
1,858
3,054
5,012
0
0
5,012
5,830
238
0
0
238
240
_6,704_
_403_
_0_
_7,107_
_9,124_
3,439
0
0
3,439
847
1,291
0
0
1,291
1,179
671
0
0
671
784
392
9,324
0
9,716
823
_5,794_
_9,324_
_0_
_15,117_
_3,633_
11,191
0
0
11,191
4,539
8,380
0
0
8,380
11,867
4,599
0
0
4,599
4,306
2,760
0
0
2,760
2,278
_26,930_
_0_
_0_
_26,930_
_22,990_
81,264
0
0
81,264
79,325
4,817
0
0
4,817
5,041
351
0
0
351
260
4,165
0
0
4,165
8,021
_90,597_
_0_
_0_
_90,597_
_92,647_
2,105
0
0
2,105
1,221
1,543
0
0
1,543
1,548
3,167
0
0
3,167
8,346
2,669
0
0
2,669
2,193
42
0
0
42
332
5,015
0
0
5,015
4,227
40
0
0
40
135
484
0
0
484
416
_15,066_
_0_
_0_
_15,066_
_18,419_
257
1,135
0
1,392
5,746
257
1,135
0
1,392
5,746|
||**148,287**
**10,862**
**0**
**159,149**
**154,310**|
A17