OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-12-31-accounts

The Parochial Church Council The Church of St. Mary the Virgin, Thame

Report and Financial Statements

for the year ended 31 December 2022

St Mary’s Parochial Church Council, Thame

Contents

Page
Legal and administrative information 1 - 2
Report of the Parochial Church Council 3 - 5
Independent Examiners' report
Statement of financial activities
Balance sheet
Notes to the accounts		 6
7
8
9 - 19

1

St Mary’s Parochial Church Council, Thame Legal and administrative information for the year ended 31 December 2022

Reference and Administrative Details of the Charity

St Mary’s Parochial Church Council, Thame (registered charity number 1129373) is responsible for the day-to-day administration of the assets and the church of St. Mary the Virgin, Thame. The church forms part of the Thame Valley Team Ministry in the Diocese of Oxford.

The charity's address is:

St. Mary's Parish Office Thame Barns Centre Church Road Thame Oxon OX9 3AJ

The charity is administered by the members of the PCC. However, between major parochial meetings various working teams operating under the overall guidance of the Chairman conduct the day-to-day business of the parish.

The members of the PCC hold their position either ex officio or by election. Elected members of the PCC are appointed at the Annual Parochial Church meeting by a vote of those parishioners whose names are registered on the churches' electoral roll.

Members of the PCC - ex officio

Team Rector Reverend Michael Reading Team Vicar Reverend Andy McCulloch ( appointed September 2022) Associate Minister Reverend Graham Choldcroft Churchwardens David Brown Helena Fickling Diocesan Synod Representative Vicki Reay Deanery Synod Representatives Nick Carter David Brown Rosalie Gibson Vicki Reay PCC Minute Secretary Jackie Hurst Family & Community Development Leader Vacant ( Sian Stratton resigned in May 2022 )

2

St Mary’s Parochial Church Council. Thame

Legal and administrative information

for the year ended 31 December 2022 (continued)

Members of the PCC - elected

Treasurer Natasha Challoner ( Appointed April 2022; Richard Deith retired April 2022) Natasha Challoner ( Appointed April 2022; Richard Deith retired April 2022)
St. Mary the Virgin Susan Bennett
Sharon Bond ( co-opted March 2022 )
Linda Ferris
Margaret Jewson
Rosalie Gibson
David Gurney
Robert Paterson
Robert Ridgway
Gordon Taylor
Aimie Chapple (retired April 2022)
Peter Stratton (retired April 2022)
Other relevant organisations
Custodian Trustees
The Diocesan Trustees (Oxford) Limited
Church House Oxford
Langford Locks
Kidlington
OX5 1GF
Independent examiners
Critchleys Audit LLP
Beaver House
23-38 Hythe Bridge Street
Oxford
OX1 2EP
Bankers
Barclays Bank plc
CCLA Investment Management Limited
34 Market Square
The CBF Church of England Funds
Aylesbury
80 Cheapside
HP20 1TW
London
EC3V 6DZ
CAF Bank Ltd
Thame Community Bank
25 Kings Hill Avenue Thame Town Hall
Kings Hill High Street
West Malling Thame
Kent ME19 4JQ OX9 3DP
(Part of Swan Credit Union)

3

St Mary’s Parochial Church Council, Thame Report of the Parochial Church Council

for the year ended 31 December 2022

The members of the Parochial Church Council submit their annual report and financial statements for the year ended 31 December 2022. The PCC has adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (2015) issued by the Charity Commission in preparing the annual report and financial statements of the charity, the Charities Act 2011, the Charities SORP and FRS 102.

Structure, governance and management

St. Mary’s Parochial Church Council registered with the Charity Commission (number 112937) on 1 May 2010 under the name The Parochial Church Council of The Ecclesiastical Parish of St Mary The Virgin Thame. St. Mary’s Parochial Church Council is the charity’s working name. It is a body corporate under the PCC Powers Measure 1956 and Church Representation Rules 2006.

Aim and Purpose

St. Mary’s Parochial Church Council (PCC) has the responsibility of assisting the incumbent, the Reverend Mike Reading, and the Team Vicar, the Reverend Andy McCulloch, in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical.

Objectives and Activities

The PCC is committed to enabling as many people as possible to worship at our church and to become part of the worshipping community of St. Mary’s. The PCC works closely with the incumbent and Team Vicar to decide how the services can embrace and be relevant to all of the community of Thame, including families and children. The services and worship put faith into practice through prayer and scripture, music and sacrament.

The Trustees confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission. When planning our activities for 2022 the incumbent and PCC have considered the Charity Commission’s guidance on public benefit and been mindful of the need to reach as many people as possible throughout the parish through a range of services and other activities, where there is teaching about Jesus, worship and prayer. In addition to the regular services, marriage preparation groups and baptism preparations - individually in the home and together as groups are held frequently.

Achievements and Performance

Governance

The clergy and wardens of St Mary’s, Barley Hill and St Catherine’s churches met regularly throughout the year to develop a new governance structure. With guidance from the Oxford Diocese, this involves the creation of a Joint Church Council and Standing Committee to manage the running and finances of the combined churches, whilst retaining the legal structures of the existing PCCs. This structure was discussed by each of the PCCs and presented to the congregation at a vision morning in November 2022, with an opportunity for discussion and feedback.

This new structure will be approved by each of the PCCs early in 2023, and will then form the basis for the running of the combined churches going forward.

4

St Mary’s Parochial Church Council, Thame Report of the Parochial Church Council

for the year ended 31 December 2022

Achievements and Performance (continued)

Worship and Prayer

The weekly routine of Sunday services has retained the pattern established in September 2021, with an 8am 1662 Holy Communion; followed by a 10.15am Morning Service/ Holy Communion service (including the Barley Hill and St Catherine’s Towersey congregations), with Kids Church for those aged four years and over; the 1662 Evening Prayer meeting monthly on 2nd Sundays at 3pm, and two evening services at 6.30pm each month that alternate between contemplative and more contemporary worship. Baptisms are held regularly, mainly during the 10.15 service, and the midweek Sparklers service meets weekly to ensure that families and carers have a regular, predictable pattern of activity.

With the appointment of Revd Andy McCulloch as Team Vicar of Thame we have planned service changes from the start of 2023. These include weekly contemporary evening services, focusing on serving youth and younger adults, and weekly 3pm services alternating between Evensong and a Quiet Service.

There are currently 189 parishioners on St Mary’s Church electoral register (2021: 202). Weekly church attendance: although an exact figure is difficult to state because systems only allow us to view the number of devices logged on during each service, we believe that attendance at Church Online and in person is typically 200-250 people at the main 10.15 service on Sundays (2021: 200-250); this number is much higher at Easter, Christmas and, for example, the Civic Service.

As well as the normal services, the community is enabled and welcomed to celebrate God’s goodness on special occasions; through baptism God is praised and thanked for the gift of new life and in marriage public vows are exchanged with God’s blessing. At funeral services family and friends express their grief but also give thanks to God for the life now complete. During the year there have been 22 baptisms (2021: 18), 19 weddings (2021: 12), 30 funerals (2021: 62) in St. Mary’s and 9 services at the crematorium (2021: 11). There were also 29 committal of ashes services during the year.

Representative members of the PCC sat on the Aston and Cuddesdon Deanery Synod, This provides the PCC with an important link between the parish and the wider structures of the church. Issues discussed in the last year have included discussion on the issue of same sex relationships and same sex marriage and the work of the Oxfordshire Historic Churches Trust.

Pastoral Care

As a church, we are committed to serving the town of Thame how and when we can. We do this through our children’s groups (as described above), involvement by members of the church in numerous aspects of service within the town – as school governors, councillors and members of the housing authority. We also support, where possible, initiatives by the Town Council and others for the care of the elderly. For the infirm there is regular home visiting done by many members of the church.

Mission and Evangelism

Helping those in need is an important part of the church’s ministry and the PCC allocates at least 10% of general giving to mission support, (both in the UK and overseas). The allocation of this support is reviewed by the Mission Group each year.

Ecumenical Relationships

The incumbent and Team Vicar meet other church leaders in the town regularly as part of the meetings of Thame churches.

5

St Mary’s Parochial Church Council, Thame Report of the Parochial Church Council

for the year ended 31 December 2022 (continued)

Financial Review

Income for the year totalled £253,296, an increase of £59,856 over last year. Expenditure of £246,486 was £53,826 higher than in 2021. The net position in 2022 therefore was a surplus of £6,810 compared with a small surplus last year of £780. The increased income was due to donations for large repairs on Victoria Mead to keep the property to a good standard. There is no longer any rental income as the property is now occupied by the Curate. There has also been an increase in Regular giving.

The increase in expenditure was due the costs of Victoria Mead repairs and restoration of the Building.

There was no capital spending in 2022.

Bank balances at the year-end were unchanged from the previous year at £98,000.

The PCC has a reserves policy of seeking to hold in its Unrestricted Fund a continuing minimum of 3 months’ running costs including salary and expenses. At 31[st] December 2022, the balance on the Unrestricted Fund was £52,050.

Independent Examiners

A resolution proposing Critchleys Audit LLP be re-appointed as independent examiners to the charity will be placed before the annual parochial church meeting.

Statement of Trustees’ Responsibilities for the year ended 31 December 2022

Charity law requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Trust and of the surplus or deficit of the Trust for that period. In preparing those accounts, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Trust and to enable them to ensure that the Accounts comply with the Charities Act 2011 (the 2011 Act). They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the PCC on ................................ 2023 and signed on its behalf by:

.......................................................... M.D. Reading (Trustee)

6

St Mary’s Parochial Church Council, Thame Independent Examiners’ Report to St Mary’s Parochial Church Council

I report to the trustees on my examination of the accounts of St Mary’s Thame Parochial Church Council (the Trust) for the year ended 31 December 2022, which are set out on pages 7 to 19.

Responsibilities and basis of report

As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011(‘the Act’).

I report in respect of my examination of the Trustee’s accounts carried out under section 145 of the 2011 Act and 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

I have completed my examination. I confirm that no material 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 accounts to be reached.

…………………………………………..

Date: ………..………………..

Robert Kirtland, FCA Critchleys Audit LLP, 23-38 Hythe Bridge Street, Oxford

7

St Mary’s Parochial Church Council, Thame Statement of Financial Activities for the year ended 31 December 2022

Unrestricted
Unrestricted
Designated
Notes
Funds
Funds
£
£
Income and endowments from:
Donations and legacies
5
169,184
50,564
Income from investments
6
342
-
Other income
7
24,748
-
Total income and
endowments
194,274
50,564
Expenditure on:
Grants
8
16,000
-
Activities directly related to
the church’s work
9
130,543
23,655
Church management and
administration
10
32,921
36,050
Family and children costs
11
6,267
-
Total expenditure
185,731
59,705
Net income/(expenditure)
before gains and losses on
investments
8,543
(9,141)
Net gains/(losses) on
investments
15
-
-
Net income/(expenditure)
8,543
(9,141)
Transfers between funds
(4,500)
4,500
Net movement in funds
4,043
(4,641)
Balance brought forward at 1
January 2022
48,007
134,393
Balance carried forward at
31 December 2022
52,050
129,752		 Restricted Endowment
Funds
Funds
£
£
3,752
-
4,706
-
-
-
8,458
-
-
-
1,050
-
-
-
-
-
1,050
-
7,408
-
-
(21,114)
7,408
(21,114)
-
-
7,408
(21,114)
59,432
179,364
66,840
158,250		 2022
Total
Funds
£
223,500
5,048
24,748
253,296
16,000
155,248
68,971
6,267
246,486
6,810
(21,114)
(14,304)
-
(14,304)
421,196
406,892		 2021
Total
Funds
£
155,075
4,582
33,783
193,440
13,700
131,158
31,034
16,768
192,660
780
22,447
23,227
-
23,227
397,969
421,196

8

St Mary’s Parochial Church Council, Thame

Balance Sheet

as at 31 December 2022

Notes

Fixed assets
Tangible assets
14
Investments
15
Current assets
Debtors
16
Short term deposits
17
Cash at bank and in hand
18
Creditors: amounts falling due within
one year
19
Net current assets
Net assets
Funds
Unrestricted funds
20
Unrestricted Designated funds
20
Restricted funds
20
Endowment (Capital) funds
15
Total funds		 2022
£

18,364
55,472
42,638
116,474
(17,584)
£

149,752
158,250
308,002
98,890
406,892
52,050
129,752
66,840
158,250
406,892		 2021
£

3,597
56,472
41,486
101,555
(15,641)		 £
155,918
179,364

335,282
85,914

421,196

48,007
134,393
59,432
179,364

421,196

The financial statements were approved and authorised for issue by the PCC on ........................ 2023 and signed on their behalf by:

...........................................................

Natasha Challoner

The notes on pages 9 to 19 form an integral part of these financial statements

9

St Mary’s Parochial Church Council, Thame Notes to the financial statements for the year ended 31 December 2022

1. ACCOUNTING POLICIES

1.1. Accounting convention

The financial statements are prepared under the historical cost convention, with the exception of investments which are included at market value. The financial statements have been prepared in accordance with the Statement of Recommended practice (SORP), 'Accounting and Reporting by Charities' revised 2015 and applicable accounting standards.

1.2.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Parochial Church Council in furtherance of its general objectives and which have not been designated for any other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Parochial Church Council for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.

Endowment funds represent those assets which must be held permanently by the charity, principally investments, as well as long-term assets that are expendable if required. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Investment management charges and legal advice relating to any such fund are charged against the fund.

Investment income and gains are allocated to the appropriate fund.

1.3.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. No amounts are included in the financial statements for services donated by volunteers.

1.4. Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.

10

St Mary’s Parochial Church Council, Thame Notes to the financial statements for the year ended 31 December 2022 (continued)

1. ACCOUNTING POLICIES (CONTINUED)

1.5. Tangible fixed assets and depreciation

Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Freehold land & buildings - In 2022, St. Mary’s PCC approved a recommendation from the
Finance Committee to cease charging depreciation on tangible
fixed assets.
Plant for church use - 33.33% straight line to 10% straight line. All new acquisitions are
at 25% straight line
Office equipment - 33.33% straight line

It is the policy of the Charity to capitalise new assets costing more than £1,000.

1.6. Investments

Investments are stated at market value on the balance sheet date. The SOFA includes the net gains and losses arising from revaluations at year end and disposals during the year.

1.7. Going concern

These financial statements are prepared on the going concern basis. The Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future, and are not aware of any material uncertainties which may cause doubt on the charity's ability to continue as a going concern.

1.8. Level of rounding

1.9. Judgements and estimations

2. AIM AND USE OF DESIGNATED FUNDS

The Charity utilises the following designated funds:

Restoration Fund

The aim of the Restoration Fund is to provide a reserve of monies large enough to fund the ongoing costs of conservation and restoration to the listed fabric of the church of St. Mary the Virgin, Thame. The church is owned by the Church Commissioners, but its care and conservation is the responsibility of the Parochial Church Council.

Church & Ministry Fund

The funds are to be used for one off ministry, for example - Marriage preparation material and for changes to the building that directly promote the ministry of the church. This money originated from the profits of the book shop in the church.

11

St Mary’s Parochial Church Council, Thame Notes to the financial statements for the year ended 31 December 2022 (continued)

2. AIM AND USE OF DESIGNATED FUNDS (CONTINUED)

Victoria Mead Fund

This money is to be used for the upkeep and maintenance of 8 Victoria Mead (Curate’s House). The funds originate from rents received from tenants who lease the house during periods of no curate occupation.

Reorganisation Fund

This fund was created in 2022 in response to the decision to appoint on a short term contract someone to manage the various issues involved in establishing the Joint Church Council and associated matters.

Outreach Fund

This fund was created in 2022 in response to a proposal by the Team Rector and approved by the PCC to develop a link with the parish of Manningtree – a district of Bradford, including financial support.

3. AIM AND USE OF RESTRICTED FUNDS

The Charity utilises the following restricted funds:

Organ Fund

The aim of the Organ Fund is to provide a reserve of monies large enough to fund the ongoing costs of repairs, servicing and restoration/replacement for the organ of the church of St. Mary the Virgin, Thame.

Funds are raised through a charge for the provision of organ music in wedding and funeral services. Funds are spent solely on the church organ, but expenses do not necessarily arise every year.

All Saints Fund

May be used for furthering the religious and charitable purposes of the C of E in Parish.

Chancel Repair Fund

The aim of this fund is to provide funds for maintenance, repairs and restoration of the chancel of the church and for no other purpose.

Charity and Welfare Fund

To be used for the charity and welfare of communicants of the Parish of St. Mary the Virgin, Thame. No fundraising activity is undertaken and expenses do not necessarily arise every year.

4. ORIGIN AND USE OF INVESTMENT FUNDS

The Church Hall had been built at the turn of the century at a site roughly mid-way between St. Mary's and what was then Thame's second parish church (All Saints) and was shared between the two churches. It was, however, never really a suitable location for either church’s activities. With the closure of All Saints and the transfer of its assets to St. Mary's, the opportunity was taken to sell the Church Hall to the Thame Players. Thame Barns was re-developed as a considerably more convenient substitute - the Barns are adjacent to the churchyard.

12

St Mary’s Parochial Church Council, Thame Notes to the financial statements for the year ended 31 December 2022 (continued)

5. INCOMING RESOURCES FROM DONORS

2022 2022 2021
Unrestricted Designated Restricted Total All Funds Total All Funds
£ £ £ £ £
Planned Giving
Regular Giving 114,621 - - 114,621 102,532
Gift Aid recovered 27,813 - - 27,813 29,051
Other Giving
Cash collections 9,754 476 - 10,230 3,820
Sundry donations 16,996
169,184		 50,088
50,564		 3,752
3,752		 70,836
223,500		 19,672
155,075

6. INVESTMENT INCOME

2022 2022 2021
Unrestricte
Designated		 Restricted Total All Funds Total All Funds
d
£		 £ £ £
Bank interest £
92
 - - 92 30
Investment fund income 250
 - 4,706 4,956 4,552
342
 - 4,706 5,048 4,582
. OTHER INCOME 2022 2022 2021
Unrestricted
Designated		 Restricted Total All Funds Total All Funds
£ £ £ £ £
Funeral & churchyard 16,367 - - 16,367 17,982
Wedding fees 6,376 - - 6,376 4,030
Rents - - - - 11,771
Grants 2,005
 - - 2,005 -
24,748
 - - 24,748 33,783

7. OTHER INCOME

13

St Mary’s Parochial Church Council, Thame Notes to the financial statements for the year ended 31 December 2022 (continued)

8. GRANTS - MISSIONARY & CHARITY GIVING

2022 2022 2021
Total All Total All
Unrestricted Designated Restricted Funds Funds
£ £ £ £ £
Missionary societies 15,500 - - 15,500 13,200
Evangelism 500 - - 500 500
16,000 - - 16,000 13,700

The above totals include the following payments:

2022 2022 2021
Grants to Organisations Unrestricted Designated
Restricted
Total All		 Total All
Funds Funds
£ £
£
£		 £
Church Missionary Society 3,050 -
-
3,050		 2,400
Christian Solidarity Worldwide 1,200 -
-
1,200		 1,200
S.I.M. 2,400 -
-
2,400		 2,400
K & K Via Oxford Diocese 3,400 -
-
3,400		 2,400
Daughters Cambodia 2,400 -
-
2,400		 2,400
Clinic Senegal 2,400 -
-
2,400		 2,400
Asylum Welcome 650 -
-
650		 -
Prison Fellowship 500
16,000
-
-
500
-
-
16,000		 500
13,700

9. ACTIVITIES DIRECTLY RELATING TO THE WORK OF THE CHURCH

2022 2022 2021
Unrestricted Designated Restricted Total All Total All
Funds Funds
£ £ £ £ £
Parish share 83,030 - - 83,030 83,030
Ministry Team expenses 2,573 - - 2,573 2,074
Church running expenses 22,679 4,500 333 27,512 20,853
Church maintenance 5,867 19,155 - 25,022 11,520
Depreciation on plant 6,166 - - 6,166 4,043
Depreciation on buildings - - - - 4,638
Upkeep of churchyard 10,228 - 717
 10,945
 5,000
130,543 23,655 1,050 155,248 131,158

14

St Mary’s Parochial Church Council, Thame Notes to the financial statements for the year ended 31 December 2022 (continued)

10. CHURCH MANAGEMENT AND ADMINISTRATION

2022 2022 2021
Unrestricted Designated Restricted Total All Total All
Funds Funds
£ £ £ £ £
Independent examination fee 1,476 - - 1,476 1,158
Office staff salaries 19,098 - - 19,098 18,911
Printing & stationery 5,920 - - 5,920 7,391
Office rent 2,500 - - 2,500 975
Victoria Mead 3,927 36,050 - 39,977 2,599
32,921 36,050 - 68,971 31,034

11 FAMILY AND CHILDREN LEADER COSTS

2022 2022 2021
Unrestricted
Designated
Restricted		 Total All Total All
Funds Funds
£
£
£		 £ £
Salaries 6,025
-
-		 6,025 16,768
Expenses 242
-
-
6,267
-
-		 242
6,267		 -
16,768

12. RELATED PARTY TRANSACTIONS

No members of the Parochial Church Council received or waived any emoluments during the year (previous year: £Nil). Ordained members of the clergy receive their stipends directly from the Church of England. Out of pocket expenses reimbursed to the clergy were as follows:

Mike Reading – vicar’s expenses
Emma Endean Mills
Ann Winter
Graham Choldcroft (Assoc, Min)		 2022
Total
£
1,736
543
45
249
2,573		 2021
Total
£
1,711
-
-
363
2,074

13. STAFF COSTS

Wages & Salaries paid to staff
Office staff salaries - St. Mary's Office
Family and Community Development Leader
Cleaner
 2022
Total
£
19,098
6,025
1,646
26,769		 2021
Total
£
16,923
16,768
1,549
35,240

No employee had emoluments (as defined for taxation purposes) of over £60,000 in the year. Salaried staff are included in the Church Workers Pension Fund.

15

St Mary’s Parochial Church Council, Thame Notes to the financial statements for the year ended 31 December 2022 (continued)

13. STAFF COSTS (CONTINUED)

The average number of employees, calculated on a full time equivalent basis, analysed by function was:

2022 2021
Number Number
Management and administration of the charity 1 1
Family and Community Development Leader 0.3 1
Cleaner 0.2 0.2
1.5 2.2

14. TANGIBLE FIXED ASSETS

Freehold
8 Victoria
Mead
£
Freehold
Clacken
Meadow
£
Freehold
50% Thame
Barns
£
Plant for
church use
£
Office
equipment
£
Cost or Valuation
At 1 January 2022
135,513
6,360
50,000
74,852
2,125
Additions
-
-
-
-
-
As 31 December 2022
135,513
6,360
50,000
74,852
2,125
Depreciation
At 1 January 2022
44,243
-
17,077
49,487
2,125
Charge for year
-
-
-
6,166
-
At 31 December 2022
44,243
-
17,077
55,653
2,125

Net book values
At 31 December 2022
91,270
6,360
32,923
19,199
-
At 31 December 2021
91,270
6,360
32,923
25,365
-		 Total
£
268,850
-
268,850
112,932
6,166
119,098
149,752
155,918

8 Victoria Mead (St Mary’s Curate’s accommodation) and Clacken Meadow (5.3 acres of agricultural land) are capitalised at their net realisable value as at 31 December 1997.

16

St Mary’s Parochial Church Council, Thame Notes to the financial statements for the year ended 31 December 2022 (continued)

14. TANGIBLE FIXED ASSETS (CONTINUED)

The partial freehold of the Thame Barns is stated at its net initial cost (1990). As the other half of the freehold is owned by Thame Town Council, this asset is effectively inalienable. The building is, furthermore, a oneoff conversion of historic buildings providing public meeting spaces as well as office accommodation for the Parochial Church Council. These factors make its market value not readily determinable. The PCC thus believes that a professional valuation would be required to arrive at a realistic market value for its interest in Thame Barns. They further believe that this would incur a significant cost to the Charity which would be onerous compared with the additional benefit gained by any user of these accounts. A market value for this asset is accordingly not presented.

The PCC estimates that the market values of its other freehold properties at 31 December 2022 are as follows:


8 Victoria Mead
Clacken Meadow (at £6,000 per acre)
 £
470,000
31,800
501,800

It is the policy of the charity to capitalise new assets costing more than £1,000.

15. INVESTMENTS

All Saints church fund:
Chancel repair liability fund:		 Balance at
Gains/(losses)
Balance at
1 January 2022
on Revaluation
31 December 2022
£
£
£
39,420
(4,640)
34,780

139,944
(16,474)
123,470
179,364
(21,114)
158,250

All investment fund assets were held on behalf of the parish by the Central Board of Finance of the Church of England (The CBF Church of England Funds). The Central Board of Finance of the Church of England is a charity (No. 248711) and a company limited by guarantee (registered in England No. 136413).

All investments are held within the United Kingdom.

17

St Mary’s Parochial Church Council, Thame Notes to the financial statements for the year ended 31 December 2022 (continued)

16. DEBTORS

2022 2022
2021
Unrestricted Designated Restricted Total All
Total All
Funds
Funds
£ £ £ £
£
Other debtors 13,917 - - 13,917
-
Gift Aid recoverable 2,026 - - 2,026
1,737
Prepayments 2,421 - - 2,421
1,860
18,364 - - 18,364
3,597
17. SHORT TERM DEPOSITS 2022 2021
£ £
CAF Deposit Account 5 1,005
Scottish Widows Bank (90 Day) 54,960 54,960
Thame Credit Union 507 507
55,472 56,472
18. CASH AT BANK AND IN HAND
 2022 2021
£ £
Barclays Current Account 36,968 34,070
CAF Current Account 5,670 7,416
42,638 41,486

18

St Mary’s Parochial Church Council, Thame Notes to the financial statements for the year ended 31 December 2022 (continued)

19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022
Unrestricted
£
Designated
£
Restricted
£

Trade creditors
2,836
-
-
Accruals
8,344
4,785
1,083
Other Creditors
536
-
-
11,716
4,785
1,083
20.
ANALYSIS AND RECONCILIATION OF MOVEMENTS ON NON-ENDOWMENT F
2022
Unrestricted
£
Designated
£
Restricted
£

Income
194,274
50,564
8,458

Expenditure
(185,731)
(59,705)
(1,050)
(
Surplus/(deficit) before transfers
8,543
(9,141)
7,408

Transfers
(4,500)
4,500
-
Balance b/f at 1 January 2022
48,007
134,393
59,432
Balance c/f at 31 December 2022
52,050
129,752
66,840
Represented by:
Net Current Assets
(6,432)
38,482
66,840

Fixed Assets
58,482
91,270
-

52,050
129,752
66,840		 2022
Total All
Funds
£
2,836
14,212
536
17,584
UNDS
2022
Total All
Funds
£
253,296

246,486)
6,810
-
241,832
248,642
98,890

149,752

248,642		 2021
Total All
Funds
£
-
15,641
-
15,641
2021
Total All
Funds
£
193,440
(192,660)
780
-
241,052
241,832
85,914
155,918
241,832



Detailed splits of the movements within the individual Designated and Restricted funds can be found in Notes 21 and 22.

19

St Mary’s Parochial Church Council, Thame Notes to the financial statements for the year ended 31 December 2022 (continued)

21. FULL RECONCILIATION OF MOVEMENTS ON DESIGNATED FUNDS

Income
Expenditure
Surplus/(deficit) before
transfers
Transfers from/(to)
Unrestricted funds
Balance b/f
At 1 January 2022
Balance c/f at
31 December 2022		 2022
Victoria
Mead
Fund
£
Reorgani
sation
Fund
£
Church &
Ministry
Fund
£
Restoration
Fund
£

30,513
-
-
20,051
(36,050)
(4,500)
-
(19,155)
(5,537)
(4,500)
-
896
-
4,500
-
-
100,644
-
1,563
32,186
95,107
-
1,563
33,082
2022
Total
£
50,564
(59,705)
(9,141)
4,500
134,393
129,752		 2021
Total
£
12,289
(7,599)
4,690
(2,995)
132,698
134,393

22. FULL RECONCILIATION OF MOVEMENTS ON RESTRICTED FUNDS

2022

Income
Expenditure
Surplus/(deficit)
Before transfers
Fund transfers
Balance b/f
At 1 January 2022
Balance c/f
At 31 December 2022		 All
Saints
Fund
£
Charity
Fund
£
Outreach
Fund
£
Church
yard
Fund
£
1,034
99
1,666
717
-
-
-
(717)
1,034
99
1,666
-
-
-
-
-
9,082
4,011
-
-
10,116
4,110
1,666
-		 Organ
Fund
£
Chancel
Repair
Fund
£
1,270
3,672
(333)
-
937
3,672
-
-
22,280
24,059
23,217
27,731		 2022
Total
£
8,458
(1,050)
7,408
-
59,432
66,840		 2021
Total
£
4,552
(77)
4,475
(1,491)
56,448
59,432