The Parochial Church Council The Church of Sl. Mary ihe Viryin. Tham• Report and Financlal Statements for the year ended 31 December 2023
St Mary's Parochlal Church Council. Thamé Contents Page Legal and administrative information Report of the Parochial Church Council Independent Examiners, report Statement of financial activities Balance sheet Notes to the accounts 10-20
St Mary's Parochial Church Council. Thame Legal and administrative informatlon for the year ended 31 Decernber 2023 Reference and Administrallve Detsils of the Charity St Mary's Parochial Church Council, Thame (registered charity number 11293731 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.. Thame Church 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. In particular, the PCC has delegated many of its day-to-day responsibilities to an informal Joint Church Council IJCCI working together with two other parishes in the Benefice. The JCC has a Standing Committee that meets between main council meetings. 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 Associate Minister Reverend Graham Choldcroft Curate Reverend Emma Endean-mills Churchwardens David Brown Helena Fickling Diocesan Synod Representative Vicki Reay Deanery Synod Representatives Nick Carter (Resigned April 20231 David Brown Rosalie Gibson IResigned April 2023) Vicki Reay PCC Minute Secretary Jackie Hurst
St Mary's Parochial Church Council. Thame Legal and administrative information for the year ended 31 December 2023 Icontlnued) Members of the PCC - elected Treasurer St. Mary the Virgin Natasha Challoner Susan Bennett Sharon Bond Linda Ferris Margaret Jewson Rosalie Gibson David Gurney Robert Paterson Robert Ridgway Gordon Taylor 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 OX12EP Investment Advisors CCLA Investment Management Limited The CBF Church of England Funds 80 Cheapside London Bankers Barclays Bank plc 34 Market Square Aylesbury HP20 ITW CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Acorn Community Bank Unit A George Hall Court Cavendish Square Swindon, SN3 2LZ (Part of Swan Credit Union)
St Mary's Parochial Church Council, Thame Report of the Parochlal chUh Council for the year ended 31 December 2023 The members of the Parochial Church Council submit their annual report and financial statements for the year ended 31 December 2023. The PCC has adopted the provisions of the Slatement of Recommended Practice ISORPI "Accounting and Reporting by Charities" 120151 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. Slruclure. governance and management St. Mary's Parochial Church Council registered with the Charity Commission (number 11293731 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 undef the PCC Powers Measure 1956 and Church Representation Rules 2006. Aim and Purpose St. Marfs Parochial Church Council IPCCI has the responsibility of assisting the incumbenL 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. Objertives and Activitles 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 17151 of the Charitie5 Act 2011 to have due regard to the public benefit guidance published by the Charity Commission. When planning our activities for 2023 the incurnbent 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 aclivities, 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 & IDENTITY The new governance structure, providing an informal Joint Church Council IJCCI and a Standing Committee, was agreed at the PCCS for St Mary's, Barley Hill and St Catherine's churches early in 2023. This structure has been successfully managing the running and finances of the combined churches, whilst retaining the legal structures of the existing PCCS. This has reduced the number of PCC meetings and helped decision making and communication across the three leadership groups. although improved communication from the JCC back to the PCCS is required. A major project to combine the finances and financial systems has also been undertaken. During 2023 the name 'Thame Church, was endorsed by the JCC to refer to the combined congregations of the the churches. The communications team developed options for a new logo, with a final design was selected by the three PCCS. The new branding includes Thame Church at St Mary's, Thame Church at Towersey etc. to acknowledge times when the location is important. It is hoped to recruit a part-time Operations Manager during 2024 lo support the clergy in the effective planning and organising of church ministries and events.
St Mary's Parochial Church Council. Thamg Roport of the Parochial Church Council for the year ended 31 December 2023 (continued) Achievements and Performance (continued) WORSHIP & PRAYER At the stsrt of 2023 a weekly contempofary service was introduced for Sunday evenings and Evensong and Quiet Services were moved to 3pm. The evening service provided a valuable gathering and re-gathering of people who were on the fringes who preferred this style of service. The Evensong and Quiet Service5 suffered from being too early in the afternoon. With the Team Rector Mike's operation and prolonged recovery, a review of the service pattern was conducted to try and create a sustainable pattern given reduced availability of clergy and retired clergy. In September the JCC proposed moving from 4 services each Sunday18am BCP, 10.15 Morning Service J Holy Communion with Kids Church, 3pm Evensong/Quiet Service, 6.30pm Contemporary Service) to 2 19am Holy Communion and 1 lam Informal Service with Kids Church) with shared coffee between the services. This was introduced in Ottober, with the intention of reviewing after Easter 2024. This new pattern has significantly reduced the burden of running so many setvices, which has been essential in Mike's absence, and also with our Curate Emma, on placement in Chinnor. It has also brought greater clarity and consistency to service styles. A further benefit has been bringing the church congregation closer together, rather than being spread across multiple services, with refreshments between the services bringing the whole church together (although the gap between services is proving too great for this to be effectivel. The new pattern has meant a loss to those who appreciated the BCP. Even50ng and Quiet Services as well as a service in the evening. This will be considered at the review. There are currently 189 parishioners on St MaS Church electoral register12022'. 1891. Weekly church attendance is typically 170 adults, 15 children and with around 20 watching online between the two services. During the year there have been 22 baptisms and birth thanksgiving512022.. 221, 12 weddings12022.' 191, 23 funerals12022'. 301 in St. Mary's and 7 services at the crematorium12022'. 91. There were also 33 committal of ashes services during the year12022.. 29). CHILDREN & FAMILIES We were delighted to appoint Hannah Smith to our team in September as our new, full-time, Children & Families Ministry Leader, with the support of a grant from the Diocese. Hannah has brought experience and leadership to this ministry. She has already developed our links with local primary schoo15 Barley Hill and John Hampden, stared assemblies at both and re-slarted our presence at the Barley Hill Carol SeNice. There are many plans for 2024 including Outdoor ChLJrch events and a Parenting Group. Baptisms have continued to be held regularly, mainly during the 10.1 Sam service and the new 11am service, and the midweek Sparklers service meets weekly with around 70 people, ensuring that families and carers have regular, predictable pattern of activity. YOUTH Our volunteer youth leader stepped down and the weekly discipleship group for around 8 now meets fortnightly. However, we plan to start a new Sunday morning group in 2024 to support youth at the 11 am service.
St Mary's Parochlal Church Councll, Thame Report of the Parochial Church Council for the year ended 31 December 2023 Icontlnued) Achievements and Performance (conlinued} SMALL GROUPS & PASTORAL CARE We have encouraged participation of Small Groups during the year, with two new groups starting. taking the total to 14, with over 100 people attending. These include missional groups such as the Choir and EcoAction Group. The Small Group Leaders now meet termly for encouragement, training and to facilitate communication. Our Small Group structure is the main form of pastoral care in the church and is complemented by our clergy for those not in group5. We hope to establish a more formal Pastoral Care team for home visits in the coming year. MISSION & EVANGELISM We serve the town of Thame through our Sparklers Group, our monthly lunch and talk for older people155+1 as well as through the involvement by members of the church in numerous aspects of Service within the town- e.g. as school governors, councillors, housing authority representatives and supporting charities. We further support care of the elderly through our Anna Chaplain, services in Care Homes and regular home visiting done by many members of the church. The PCC allocates at least 10% of general giving to mission support, Iboth in the UK and oversea51. The allocation of this support is reviewed by the Mission Group each year. This group, like several others, has begun the process of amalgamating with similar groups at the other churches. This wider group is enabling effective communication and strategy to be made for all the mission partners. We have seen a good number of people returning to the church following the changes to service structure. We have also welcomed many more newcomers. A leaflet drop across Thame facilitated many new people lo come to our Christmas services this year. It was decided not to run Alpha or similar courses this year, but we plan to do so in 2024. COMMUNICATIONS Significant developments have been made to the systems this year, including the implementation of Churchsuite and SharePoint as the primary administrative, communication and archiving systems. This included appointing an Interim Church Administrator as a Project Manager of an Implementation Project to provide the extra capacity required to enable Thame Church to introduce these systems. Whilst resolving teething problems and buy-in from all the congregation is ongoing, we now have comprehensive and robust tools to provide a plarform for effective data management and communication. We have also developed a new Thame Church web51te. which will gradually take over from the individual church websites. ECUMENICAL RELATIONSHIPS Impact Thame Iformerly known as Lighthouse) is an ecumenical charity serving children, young people and families in Thame and surrounding villages. It has run several successful events during 2023 including a Big Church Family Fun Day in July and a Lighten Up Paty on 30th October. These were successful and there are plans to develop them further in 2024. Thame in Prayer has continued to meet regulady. and the Team Vicar has also been meeting the other church leaders in the town regularly. With thanks to all who serve in this ministry of God. Andy Mcculloch Team Vicar, Thame Church
St Mary's Parochial Church Couniil. Thame Report of the Parochlal Church Councll for the year ended 31 December 2023 (contlnued) Financial Review Income for the year totalled £252,806, a decrease of £490 over last year. Expenditure of £233,051 was £13,435 lower than in 2022. The net position in 2023 therefore was a surplu5 of £19,755 compared with a surplus last year of £6,810. The increased income in the previous year was due to donations for large repairs on Victoria Mead to keep the property to a good standard. The propety is now occupied by the Curate. There has also been an increase in Regular Giving. The increased expenditure in the previous year was due to the costs of Victoria Mead repairs and restoration of the building. There was no capital spending in 2023. Bank balances at the year-end increased from the previous year by £33,962 at £132,072. 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 315t December 2023, the balance on the Unrestricted Fund was £65,411, equivalent to 3 months running costs. 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 2023 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.. select suitable accounting policies and apply them consistently,. make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements,. ar*d prepare the accounts on the going-concern basis unless it is inappropriate to presume that the Trust will continue in operational existence. 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 201 l 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 Monday 18 March 2024 and signed on its behalf by.. M.D. Reading (Trusteel
St Mary's Parochial Church Council. Thame Independent Examiners, Report to St Mary's Parochlal 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 2023, which are Set out on pages 8 to 20. Responsibllities 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 I'the Act'l. 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 1451Sllbl of the 2011 Act. Independent examiner's statement Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. 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.. 111 accounting records were not kept in respect of the Trust as required by seclion 130 of the Art or 121 the accounts do not accord with those records.. or 131 the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 othef than any requirement that the accounts give a 'true and fair view, which 15 not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attentlon should be drawn in this report in order to enable a proper understsnding of the accounts to be reached. Date.. Robert Kirtland, FCA Critchleys Audit LLP, 23-38 Hythe Bridge StreeL Oxford
Sl Mary s Parochial Church Council. Thame Statement of Financial Activities for the year ended 31 December 2023 Unrestricted Designated Funds 2023 Totsl 2022 Total UnrestrSrted Restricted Endowmènt Notes Funds Funds Funds Fund5 Funds Income and eb)d4)wmÈnts from: Donations and legacies Income from investments Other income Total income and endowments 191,191 12,295 3,575 4,733 207,061 5,721 223.500 5,048 232 203 12295 253 296 Expenditure on: Grants Activitie5 directly related to the church's work 16.900 16,900 16,000 168,417 9,484 4,725 182.626 161,515 Church management and administration 10 Total expèndtture 218842 23 246 486 Net income before 9ain5 and losses on investments 13,361 2,811 3,583 19,755 6.810 Net gains/lLossesl on investments 14 14 Net int0mellexpendlrt) 13,361 1811 3,583 14,890 34,645 114,3041 Transfers between funds Net movement in fund5 13,361 2,811 3,583 14,890 34,645 114,3041 Balance brought forward ai 1 january 2023 8250 Balance carried forward at 31 De<ember 2023 132 563 173 140 406R92
St Mary's Parochial Church Council. Thame Balance Sheet as at 31 December 2023 2023 2022 Notes Flxed assets Tangible assets Investments 13 14 143,586 173140 316,726 149,752 158 308,002 Current assets Debtors Short term deposits Cash at bank and in hand 15 16 17 6,743 101,854 18,364 55,472 138,815 116,474 Creditors: amounls falling due wlthin one year 18 14 Net current assets Net assets Funds Unrestricted funds Unrestricted Designated funds Restricted funds Endowment (Capital) funds 19 19 19 14 65,411 132,563 70,423 52,050 129,752 66,840 158250 Totsl funds The financial statements were approved and authorised for issue by the PCC on Monday 18 March 2024 and signed on their behalf by.. Natasha Challoner The notes on pages 10 to 20 form an integral part of these financial statements
10 Sl Mary's Parochial Church Coun¢ll. Thame Notes to the Ilnancial statements for the year ended 31 December 2023 ACCOUNTING POLICIES Accountin9 Conventlon 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 ISORPI. 'Accounting and Reporting by Charities, revised 2015 and applicable accounting standards. Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Parothial 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, a5 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. Inveslment income and gains are allocated to the appropriate fund. Incomlng resources All incoming resources are included in the Statement of Financial Activities ISOFAI 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 seNices donated by volunteers. Resources expended All expenditure is accounted for on an accruals basis and ha5 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 ihe resources.
St Mary's Parochial Church Council. Thame Notes to the financial statements for the year ended 31 December 2023 (continued) ACCOUNTING POLICIES (CONTINUED) Tanglble fixed assets and depreclation 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 Plant for church use No Depreciation. 33.33% straight line to 10% straight line. All new acquisitions are at 25% straight line 33.33% straight line Office equipment It is ihe policy of the Charity to capitalise new assets costing more than £1,000. 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. 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. Level of rounding The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amount5 in these financial statements are rounded to the nearest £. 1.9. Judgements and eslimations The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 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 reseNe 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.
12 St Mary's Parochial Church Council. Thame Notes to the financial statements for the year ended 31 December 2023 (contlnuedl AIM AND USE OF DESIGNATED FUNDS (CONTINUED) Vlctoria Mead Fund This money is to be used for the upkeep and maintenance of 8 Victoria Mead (Curate's House). The fLJnds originate from rents received from tenants who lease the house during periods of no curate occupation. Reoryanisation Fund This fund was created in 2022 in response to the decision to appoint on a short term contract someone lo manage the various issues involved in establishing the Joint Church Council and associated matters. 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 chLJrch 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 Ljsed 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, repair5 and restoration of the chancel of the chLJrch 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 fLJndraising activity is undertaken and expenses do not necessarily arise every year. 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 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 IAII 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.
13 St Mary's Parochial Church Council. Thame Notes to the financial statements for Ihe year ended 31 December 2023 (continued) INCOMING RESOURCES FROM DONORS 2023 unrestrict Deslgnated 2023 2022 Restricted Totsl All Funds Total All Funds Regular Giving Gift Aid recovered Cash collections Sundry donations 133,620 32,989 11,926 133,620 32.989 14,037 114,621 27,813 10,230 455 1,656 INVESTMENT INCOME 2023 Designated 2023 2022 Reslricted Total All Funds Total All Funds Unrestricted Bank interest Investment fund income 863 125 863 92 OTHER INCOME 2023 Deslgnated 2023 2022 Restricted Totsl All Funds Total All Funds Unrestricted Funeral & churchyard Wedding fees Grants Misc. Income Interparish Transfers 21,699 5,424 6,667 1,425 21,699 5,424 6,667 1,425 16,367 6,376 2,005 l A grant was received from the Oxford Diocese Development Fund towards the cost of the development of Children and Family Ministry in the parish. 2 Inter-parish transfers represents income received from Barley Hill Church and St Catherine's Towersey as contribution to the running costs of the parish.
14 St Marfs Parochial Church Council. Thame Notes to the financial statements for the year ended 31 December 2023 {¢onlinued) GRANTS- MISSIONARY & CHARITY GIVING 2023 2023 2022 Total All Total All Funds Funds Unrestrided Deslgnated Restrirted Missionary societies Evangelism 14.900 14,900 15,500 500 The above totals include the following payments.. 2023 Deslgnated 2023 Total All Funds 2022 Total All Funds Grants to Organisations Unrestricted Restricted Asylum Welcome Church Missionary Society Christian Solidarity Worldwide Clinic Senegal Daughters Cambodia Impact Thame K & K Via Oxford Diocese Prison Fellowship S.l.M. Stephen McGoldrick 650 3,050 1,200 2,400 2,400 2,650 1,400 3,850 3,850 1,000 2,650 1,400 3,850 3,850 1,000 3,4(X) 500 2,4(X) 1,000 2,650 500 1,000 2,650 ACTIVITIES DIRECTLY RELATING TO THE WORK OF THE CHURCH 2023 Designaled Re5trirted 2023 Total All Funds 2022 Totsl All Funds Unrestricted Parish share Ministry Team expenses Family and children costs Church running expenses Church maintenance Depreciation on plant Upkeep of churchyard 102,673 927 9.503 37,6S3 5.925 6,166 102,673 927 9,503 42,378 1 S,409 6,166 83,030 2,573 6,267 27,512 25,022 6,166 4,725 9,484
15 St Mary'5 Parochial Church Council. Thame Notes to the financial statements for the year ended 31 December 2023 (contlnued) 10. CHURCH MANAGEMENT AND ADMINISTRATION 2023 Designated Restrlcted 2023 Total All Funds 2022 Total All Funds Unrestricted Independent examination fee Office staff salaries Printing & stationery Office rent Victoria Mead 1,800 20,192 4,469 2,500 1,800 20,192 4,469 2,500 1,476 19,098 5,920 2,5 RELATED PARTY TRANSACTIONS No members of the Parochial Church Council received or waived any emoluments during the year (previou5 year.. £Nill. Ordained members of the clergy receive their Stipends directly from the Church of England. Out of pocket expenses reimbursed to ihe clergy were as follows.. 2023 Totsl 2022 Total Mike Reading - vicarfs expenses Emma Endean-mills Ann Midwinter Graham Choldcroft (Assoc, Min) 1,736 543 45 249 901 12. STAFF COSTS 2023 Tolal 2022 Totsl Wages & Salaries paid to stsff Office staff salaries - St. Mary's Office Family and Community Development Leader Church Administrator (Church Suite implementation) Cleaner 20,192 9,409 4,000 19,098 6,025 No employee had emoluments las defined for taxation purposes) of over £60,000 in the year. Salaried staff are included in the Church Workers Pension Fund.
st Mary's Parochial Church Council. Thame Notes to the financial statements for the year ended 31 December 2023 (tontinued) 12. STAFF COSTS (CONTINUED) The average number of employees, calculated on a full time equivalent basis, analysed by function was.. 2023 Number 2022 Number Management and administration of the charity Family and Community Development Leader Cleaner 13. TANGIBLE FIXED ASSETS Freehold Freehold 8 Victoria Clacken Mead Meadow Freehold 50% Thame Plant for Office Bains church use equipment Totsl Cost or Valuatlon At 1 January 2023 Additions As 31 December 2023 135,513 6,360 50,(K)O 74,852 2,125 268,850 135 513 268 850 Deprecialion At 1 January 2023 Charge for year 44,243 17,077 55,653 2,125 119,098 At 31 December 2023 Net book values At 31 December 2023 At 31 December 2022 923 14 8 Victoria Mead 1st Mary's Curate's accommodation) and Clacken Meadow15.3 ac5 of agricultural landl are capitalised at their net realisable value as at 31 December 1997.
17 St Mary's Parochial Church Councll. Thame Notes to the financial statements for the year ended 310Kernber 2023 (continued) 13. TANGIBLE FIXED ASSETS (CONTINUED) The partial freehold of the Thame Barns is stated at its net initial cost119901. As the other half of the freehold is owned by Thame Town Council, this asset is effectively inalienable. The building is, furthermore, a one- off 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 reqLJired 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 2023 are as follows-. 8 Victoria Mead Clacken Meadow lat £6,000 per acre) 470,000 It is the policy of the charity to capitalise new assets costing more than £1,000. 14. INVESTMENTS Balance at 1 January 2023 Gains on Revaluation Balance at 31 December 2023 All Saints church fund: Chancel repair liability fund: 34,780 12 3,272 11618 38,052 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. 2487111 and a company limited by guarantee (registered in England No. 1364131. All investments are held within the United Kingdom and invested in the CBF Church of England Investment Fund.
18 Sl Mary's Parochial Church Council. Thame Notes to the flnanclal statements for the year ended 31 December 2023 (continued) 15. DEBTORS 2023 Designated Restricted 2023 Total All Funds 2022 Total All Funds Unreslrirted Other debtors Gift Aid recoverable Prepayments 1.909 2,098 1.909 2,098 13,917 2,026 16. SHORT TERM DEPOSITS 2023 2022 CAF Deposit Account Scottish Widows Bank190 Dayl Acorn Community Bank 46,387 54,960 54,960 507 472 17. CASH AT BANK AND IN HAND 2023 2022 Barclays Current Account CAF Current Account 22,292 36,968
19 St Mary's Parochial Church Council. Thame Notes to the financial statements for the year ended 31 December 2023 (contlnued) 18. CREDITORS." AMOUNTS FALLING DVE WITHIN ONE YEAR 2023 Designated 2023 Total All Funds 2022 Total All Funds Unrestricted Restricted Trade creditors Accruals Other Creditors 974 7,993 974 11,686 2,836 14,212 634 228 3,059 19. ANALYSIS AND RECONCILIATION OF MOVEMENTS ON NON-ENDOWMENT FUNDS 2023 Designated 2023 Totsl All Funds 2022 Total All Funds Unrestricted Restricted Income Expenditure 232,203 218842 12,295 8,308 252,806 233 051 253,296 246 486 Surplus before transfers 3 583 Transfer5 Balance blf at l January 2023 248 642 241832 Balance clf at 31 December 2023 Represented by: Net Current Assets 13,095 41,293 70,423 124,811 98,890 Fixed Assets 52 149 752 Detailed splits of the movements within the individual Designated and Restricted funds can be found in Notes 20 and 21.
20 Sl Mary's Parochial Church Council. Thame Notes to the financial statements for the year ended 31 December 2023 (continued) 20. FULL RECONCILIATION OF MOVEMENTS ON DESIGNATED FUNDS Victoria Mead Fund Church & Ministry Restoration Fund Fund 2023 Totsl 2022 Total Income 12,295 12.295 50,564 Expenditure 19,4841 19,4841 159,7051 Surplus/ldeficitl before transfers Transfers from/ltol Unrestricted funds 4,500 Balance b/f At 1 January 2023 Balance c/f at 31 December 2023 21. FULL RECONCILIATION OF MOVEMENTS ON RESTRICTED FUNDS Chancel Repair Fund 2023 Total 2022 Total Salnts Fund Charity Fund Outreach Organ Fund Fund Income 1,040 1,975 960 640 3,693 8,308 8,458 Expenditure Surplusjldeficitl Before transfers 1,040 12501 11,5401 640 3.693 3,583 7,408 Fund transfer5 Balance b/f At 1 January 2023 1666 23217 27731 66 Balance clf At 31 December 2023