St. Miehael and All Angels Church. Claverdon Annual Report and Financial Ststements of the Paroehial Church Council for the year ended 31 December 2022 Incumbent: The Reverend All￿n Hampton The Vicarage Stratford Road Wootton Wawen Independent Examiner: Mr Richard Butler 58, Kingfisher Close Warwick CV34 SGD Charity Number 1129532 1 ## **PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, CLAVERDON** ## **ANNUAL REPORT FOR 2022 (continued)** ## **Background** The PCC of St. Michael and All Angels has the responsibility for co-operating with the incumbent in promoting the whole mission of the Church, pastoral, evangelistic, social and ecumenical within the ecclesiastical parish. It also has maintenance responsibilities for the Church Centre in Claverdon. ## **Membership** Members of the PCC are either ex officio or elected by the Annual Parochial Church Meeting (APCM), which this year took place on 4[th] April 2022, in accordance with the Church Representation Rules. During the year, the following served as members of the PCC: |Incumbent:|The Reverend Alison Hampton| |---|---| |Warden:
|Mrs Sue Jacques| |Representatives on the Deanery Synod:|| ||Mrs Sue Jacques| |Elected Members:|Mrs Sandra Aitken – appointed 4thApril 2022| ||Mr Steve Aitken| ||Mrs Nicky Arnott – resigned 4thApril 2022| ||Mrs Alison Bird – appointed 4thApril 2022| ||Mr Richard Bonsall| ||Mr David Eastham| ||Mrs Pat Farmer| ||Mrs Andrea Gardner| ||Mrs Penny Hanson| ||Mr David Markham: also PCC Treasurer| ||Mrs Julia Waldron – appointed 4thApril 2022| |Co-opted Members:|
The Reverend Philip Hanson| ||Miss Chelsi Argabright (Family & Youth Minister)| |Minutes Secretary:|Mrs Ann Anthony| The PCC met 5 times during 2022. At each PCC meeting, reports were received from each of its subcommittees and from the incumbent and treasurer. ## **Committees** The PCC operates with a number of sub-committees, which meet between full meetings of the PCC: ## _Fabric Committee_ This committee is chaired by Mrs Sue Jacques. It is responsible for the fabric of the Church and the Centre, the churchyard, the floodlighting, the clock, the bells, Church cleaning, Church flowers and Church noticeboards. ## _Church Centre Management Committee_ This committee is chaired by Revd Alison Hampton. It is responsible for the day-to-day management of the Church Centre. ## **Church Attendance** There were 92 individuals on the Church Electoral Roll in April 2022. The average attendance on a usual Sunday for 2022 was 40. A comparative number for 2021 is not available. PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS. CLAVERDON ANNUAL REPORT FOR 2022 (continued) Flnanclal Roview The financial results for 2022 are summarised M page 4. Net resour￿ decre￿ during the year by £25,238 arising as folbws: Deficit on the magazine Income from investments Grant income re￿iVed to support y￿th and family ministy Deficit from week-tfrweek activities of the Churth (635) 3,270 15.000 (42,873) Net Decrease in Resour¢es Th8 deficit from week-tOThweek activities of (£42,873) compares wtth a prior year figure of {£20,922), representing a £21.951 increase in the deficit in 2022 vs 2021. This deterioration in financial performance is explained by a number of large individual ttems ouuined below. The amount of income coming in from regular giving is under significant pressure, albeit this was mitigated in the year by the receipt of a very generous legacy of £5.0(M). In addttion. the deficit on running the Church Centre increased by £9.203 to £14.166 from £4.262 in 2021. the cost of repairs and maintenance alone being neady £5,000 in the Current year. But OV8rall the most signtficant reason for the increased deficit was the £19.200 expended on church repairs and maintenance. The largest items were the cost of repair of the weathervane. £5,568, the thurth washroom. £3.981. the organ. £3,740 and the church lighting, £3.405. Our continued commitment to investing in Y￿ and family work cost £28.597 in Ihe y8ar12021: £27,935) but we were once again very blessed to receive additional grant income of £15.000 towards this cost from The Claverdon SurKlay School Fund in addttion to their longstanding annual grant of £1,500. In summary. overall total n8t PCC fvnds decreased by £45,671 (2021: increase of £26,711) of which £20,433 was due lo a -10.8% decrease in Ihe market value of our investments 12021: increase of £25,314 or +15.4%). As disclosed in note 3(a> on page 9, a total of £7.917 was allocated to missions and charities during the year12021: £9,002). This indudes £6.700 donated by th8 CAW (x)mmrttee to Various tharities out of general funds, a similar figure to last year. The balance sheet on page 5 shov*S total bank and cash balances at 31 st December 2022 of £39,551 {2021: £68,815) and total I￿Uld financial assets of £208.612 (2021: £258.309). The parish share payable to the diocese ts 2023 has in(Trased by £71 to £37.600 The analysis above dearly shows that 2022 has been a diffi￿11 year from a financbal perspective. Challenges remain for 2023. with regular gi%irKJ fallirKJ and inflation signfficantly impacting on the PCCS cost base. There is a clear need to SFend less in 2023 on repairs and Maintenan￿ and to dosely monitor and minimise the Church Centre operational deficit. Despite these challenges. in the early months of 2023 there have been no further unexpected issues a(Iversely affecting the PCC'S cashflows and therefore. given Claverdon PCC still has signthcant financial reserves, it is not felt that any of these known challenges we are faang in 2023 will have a material affect on our ability to continue our main mission for the Church here in Claverdon. Annual Revlow A summary report of the aclivilies of the Churth in 2022 has been prepared and is to be presented at the APCM on 1 f April 2023. Copies are also available in the Churth to all parishioners and upon request to any other interested party. PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, CLAVERDON ANNUAL REPORT FOR 2022 (conlinued) Rlsk Management The PCC recognises its responsibilities for managir¥J risk. Principal Risks and Uncertainties Although as with many charitable organisations. the majority of the PCCS income is the result of voluntary giving and is therefore subject to yearwon•year fluctuations caused by levels of church membership and other rTh)re general eo)r)omic factor5, we do currently benefit from cushion of having strong financial resep4es to fall back rm rf tFmes beco￿￿ diffiujlt. In athjition. we have good financial controls and authorisation arKI review procedures in pla￿ to ensure that we manage our finances wisely. All this leads us to condude that any finan(aal risks that we are currentiy exposed to are not of a signfficant nature. Operations All our church premises and grounds a￿ maintsined to a high standard and each year $￿jnIficant funds are expended in order to ensure that ow churth remains a well maintained and safe pla￿ to Cong￿ate. Children's & Youth Work Given our current investment in youth work and our commitrnent to developing our family ministry, the health, safety and protection of children. young people and vulnerable adults is regarded as being of paramount importance. We have adopted and operate a forn￿1 policy for the safeguarding of children and vulnerable adults, in line with Diocesan guidelines. Continual review of our safeguarding F)olicies. procedures aTrJ practice is ongoing and overseen by the PCC'S saf&3uarding representstive who reports on these matters to each of our PCC meetings as a stsndard agenda item. The PCC remains committed to continuous improvement in the devek¥)ment and prath'(xl appli(2tion of our safeguarding policies. Unlted Benofice St Michael and All Angels. Claverdon. is a United Benefice with All Saints, Preston Bagot. Our incumbent is also the Priest-in-charge of St Peterfs. W(x)tk)n Wawen arKI St John The Baptist Church, Aston Canllow. On behalf of the PCC Mrs Susan Jacques 1P April 2023 PAR(tHiAL CHURCH OF STIIICHAELAND ALLANGELS, CLAVERIKX4 STATEMENT c￿ FINANCi4LACTI￿s FIJI THE YEAR ENOED 31STDECWER 2022 T￿1 Fund• 2022 2021 INCOMWG RESOURCES Inc¥Jmlng R&sourt*s Imm ¢)ther volunlary bncorning c*>ming Rèsourt*¥ from oparnting aetiwlos - b) further the CouncalSobiecb¥o8 -tr1 98nerato fvjnds Incomo from In¥08bThnts 2181 21bl e4.671 65,730 21,5 92,718 35,237 15.C(MJ 2{c) 21d) 21•) 5.013 18,387 5.013 18.387 3270 113.900 3.802 15.913 3.166 150.834 1282 1282 TOTAL RE8WRCES 90.559 10.059 RESOURCES EXPENDED Grants 31a) 6,978 7.917 9.002 Acttvittes dlrectly rnlaOrvJ tho work ollhg Churth b) 3(c) 94.377 8.536 lo9￿9• 18.761 g.S47 122.685 134.531 5,904 14•A37 Church rnanagemenland adminlstratton TOTAL RESOURCES EXPENDED 8,536 139,136 19.7110 9.547 NET RE80URCES P4CREASE IIEXPENDEDI 113J321 13.6411 {82651 125.2381 1.397 GAW ILOSSI C*4 WIVESTMEIIVJ. 110.9921 12.7781 16.8631 120.4331 25,314 NET IAOVEMENT IN FUNDS 124,3241 114,9281 145.0711 28.711 BALANCES gROUspe1 of our Lord Jesus Christ acojrding to the doctrine and practice of the Church of England. The charity m8ets the definition of a public benefit entity under FRS 102. There are no material uncertainties atrKxrt the charl￿$ akn'lity to conb'nue as a going ￿)ncern. Funds G8n8ral furKls represent the funds of the PCC Ihat are not suble¢t to any restrictiws regarding their use and are available for applicati￿ on the general wrposes of the PCC. Funds desKJnated for a particular purpose by the PCC are also unrestricted. The funds of the PCC have been appropriately analysed and the statement of financial activities has been prepared in a(xordance with this anatysis. Incomlng r•4ourco8 Volunt8ry income and capital soÉttres Collections are recognised when received by ￿ on behalf of the PCC. Planned giving receivable under gift aid is recognised only when received. In(y)me Lgx reCo￿rable on gift donati¢x)s is recognised when the donation is recognised. Grants and legacies to the PCC are aCC￿￿nted for Th)ly when re￿iVed. Funds raised from sales are accounted for gross. Other income Rental income from leth'ng Ihe Church Centre is recognised when the rental ts due. Income from investments Dividends and interest are a(xx)unt8d for ¥tt￿n r8c*ivable. Tax re￿Ve￿ble on suth irKX)me is recognised in the same accounting year. Gains and losses on investments Unrealised gains or losses are accaJnt6d for on revaluati￿ of investments at 31 December. PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, CLAVERDON NOTES TO THE FINANCIAL STATEMENTS (contlnued) For the year ended 31 December 2022 Resources expended Grants and outward giving are ac(x)unted for in ts SOFA when paid. unless an obligation. whether constructive or legal. exits to the recipient in accx)rdance with the Charities SORP and FRS 102. Ad1vit￿S dirncty rnlating to th6 worf( of the Church The diocesan quota is accounted for when payabl8. Flxed as80ts Cons8cr8t8d land 8nd buildings, move8bl8 Chu￿ fumishings and th8 Church Centr8. COnSe￿ated and beneficed propety is exduded frfxn the ac4>)unts by Section 1112)(c) of the Charities Act 2011. Mov8able church furnishings held by the Vicar and the Churdwrnrdens on special trust for the PCC, and which require a faculty for disposal, are accounted for as inalienable property unless consecrated. They are listed in the Church's Inventory which be inspected (at any reasonable time). For inalienable property acquired prior to 2(KM) there is insufficient cost informatim availab￿ and therefore such assets are not valued in the financial statements. No inalienabl8 wopety was a¢quired in 2022. All expenditure incurred in the year on (Xx)sec￿1ed or benefi(xd ￿lIdingS is written off. The Church Centre is included at estimated original (x>st. Other fixtures, fittings. oifK* equipment and chuthyanl m8chinery Freehold land is not deprecaated. Equipment used within the Church Centre is depreciated on a Stra￿h141n? basls as follows. Fumiture 10'A per annum Computers and printer 200A per annum Audio equipment 15% per annum Churchyard machinery is depreoated on 8 stravJht4ine basis at 15% per annum. Investments Investments are valued at market value at 31 December. Currnnt assets Amunts owing to the PCC at 31 December in resF*ct of rents or other incxxne are shown as debtors. Short-temi d8F#)sits are held on derxjsit with the Central Board of Finan￿ of tt)e Church of England. PAROCHIAL CHURCH COUNCLOF ST MICHAEL AND ALL A144XS. CLAVERDON NOTES TO THE FINANCIAL STATEMENTS (eu*hN*d) For year 31 Do¢em￿r 2022 2 INCOMING RESOURCES Unrostri(*d R051ri(*d Endowment Tolal Funds Funds Funds Funds 2022 2021 Flanned giving.. Gift Aid donationwegular GIft￿d donalions-one off 38.999 4.005 11.589 38,999 4,005 11,589 120 47.025 21,771 17.669 120 In￿me tax iecoverabla Youth Worker support Other planned giving Colledions 120 5.988 1.771 77 5.988 2.710 77 2.268 2.664 90 939 Mogazine donabons Sundry donalions 2242 64.671 2242 65.730 1.109 92,716 1.059 2(bl Legactes Grants 5,000 16.500 21,5 1.500 15,000 15.¢J)O 35,237 35.237 21¢) Fees 5.013 5.013 5.013 5,013 3,802 3,802 21d) Magazine advertisements Floodlighlrn9 ¢]her Church Centre lellings Sales and otherfundr8ising ev¢nts 4099 70 4,899 70 5.781 166 12.826 592 12,826 592 9.189 777 18.387 18.387 15.913 Dividends and interest received 1282 3270 3.166 TOTAL INCOMWG RESOURCES 96.559 16.059 1282 113.900 150.834 PAROCHI4L CHURCH CCA114CL (% ST IXHAELAND ALLAN(*LS. CLAVERD(XI NOTES TOTHE F14AMCL4L sfATEMEPITS le(wth*dl For th• year endod 31 Do￿￿b￿ 2022 3 RESOURCES EXPENDED Totsl Funds 2022 FU￿1$ Funds Funds 2021 Missionary 8rKI th8ritsble g4virwJ.' Church over5eas'. 2279 2279 1.476 1.679 2,483 7.917 2,284 1.827 1.881 3,010 9,002 - rnliefand developr1￿Iagen(Ie8 Home missions aThY other Churth Sooeti•s Secular chanb.és 476 1.679 2.020 6,978 939 31bl Ministy." - Dioc8san quota - Virarfs expenses - MI￿On & outrBach 37.￿3 37503 596 342 28,597 6.692 2ffj61 326 1.029 5.611 22.789 36,726 682 210 27.935 6,042 1.966 1294 2249 5.107 11.593 342 13.477 6.692 15.120 Churth running cmb Church maintsnanc• Upkeep ofsemces Upke8p ofthurthyard Expendityre on magaanè Churth Centre running ￿$ts Major repairs. w0plac8￿Thts and imprO￿￿ts - Churth and ehurthyard 252 326 1.029 5.611 22.789 3,403 94 J77 3.389 18.761 9.547 9,547 18339 122.685 40.727 134,531 31el Oepreoation Bank Charges Printing and 8tstionery and gjndry &￿Ilse5 Vicafs offic• 8XP8n88S PCC administrative salaries Parish bookeeping ￿$ts 192 1.156 192 1.156 508 6579 101 8,536 188 499 739 4.305 173 6.579 101 8536 5.904 TOTAL RESOURCES ExpeNDED 109A91 19.7110 gy7 139.138 149A37 PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS. CLAVERDON 10 NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 D¢cember2022 4 TrANSACTIONS wrrH PCC klEMBERS AND OTHER RELATED PARTES No PCC member re￿Ived any rernunerntion nor rein*)uf5ementofexpenses eX￿ptth0$e Ihatw&re dir6dly and wholly atlribulable to PCC activilies. 5 FIXED ASSETS FOR USE BY THE PCC Freehofvj Land & CIMrch Co ssets E*Mnt inClw¢h C¢ Garden Equi￿OnI Trt?I Audio COST At 1 January 2022 Additions At 31 Deomber2022 112.641 3552 7.410 2.574 126,177 112.641 3.552 7.410 2,574 126,177 DEPREc￿TIc At 1 January 2022 Charge for year At 31 December 2022 3552 7.410 2.574 13.536 3.552 7.410 2.574 13.536 NET 8(XN< VALUE At31 December 2022 112.641 112.641 At 31 De￿nber 2021 112.641 112,641 The glebe ffield is freehold18nd and is #ated atu)stof£6.641 12021 £6,641). At31 Decom￿r IAark•l Vak• 2022 Un*s 2022 2021 C￿t 2022 2021 2021 Genoral Funds A¢¢umulation sha￿$ in CBF COE in¥estr*ntfvJnd 4162 411 22.063 23,998 6,167 6.167 In(xJmè shares in CBF COE investrr*ntfvnd 3212.7 3212.7 66,329 88,392 75,135 99.133 40.672 46.839 40.672 46.839 R•strlct•d Fund¥ AccunNJlation shares in CBF COE invesbrnnl fvnd 517.9 522.6 27,452 30,482 7.833 7.833 Endowmènt Funds Accumulation shares in COIF investrnentfvnd 46.9 46.9 10.330 11.351 217 217 Intx)me shares in C¢JF inNEskn*ntfvnd 2.363 2.363 42,887 53217 48.528 59.879 2245 2.462 2,245 2,462 Total InV￿lmonts 169.061 189A94 57,134 57.134 PAROCHIAL CHURCH COUNCL C* ST MICHAEL AND ALLAN1￿3. CLAVERD(XI NOTES TOTHE FINANCL4L STATEMENTS Icthth*d) F¢r thè year ond•d 31 Drtomber 2022 6 ANALYSIS OF NET ASSE[5 BY FUND Funds T(tsl Fixed assets 88.392 55212 112,323) 131281 140,093 53217 1.672 281.702 56.884 (12.323) 326,263 Currentas5ets Currant liabilities Fund balan￿S 140.093 54.889 7 DEB TORS 2022 2021 Debtors for g¢yxls and sérvtl l)her d8btors linduding lax TeL>)verable) 559 867 16.774 17.333 6,951 7,818 8 LIABILITES: Am¢xmts falliry on• y•ar ACC￿al$ and deferred inujire 12.323 12,323 6,834 6.834 PAROCHIAL CHURCH COUNCILOF sr M￿HAELAND ALLANGELS. CLAVERDON 12 NOTES TO THE FINANCL4L STATEMENTS For tho y•ar •ndèd 31 D•comb•r 2022 9 STAFFING COSTS C*Jr inctsmbent IS 8rWoypd and paid fi)r bythe DioLwe and # PfoForbon of the paiish sharè paymant relatos to Iheir ministy o)sts. The PCC cuffenlly dire{* employs a fijll time ￿Ulh and fam41ies minithr ond two p#rHime administrative ￿￿￿tiOns. Totsl grDS8 salarycosls ￿rth9 >*arwerg £32.32912021.' £32,220). 10 FUMO DETAILS la) The unfestric*d fvjnds wryise the general •Jnd 0ftr￿ PCC and otherfvnds de&gnatsd bylhg PCC for parbcular pu￿Se8 as t￿lOw$.. General fvnd Mann Legacy ShLrtUewoth Legacy 119,073 7.196 5.012 131281 Ibl The restric*d funds ￿m￿lse.. Capilal cost ofChuw* Centre Capital coslofQèbg Fiekl Casle legacy 106.000 6.641 27.452 140.093 The Casue Legacvs use rs the maintsnartce ofthe bells. The Shutuewoth Legacy is kn) be used for suc* religious PU￿$￿S as Ihe Viiar Churdjwardens think fit The Mann 1g98W is to be use(1 for such purposès as the vicarthinks fit Icl The 8ndowMent￿rtdS of£54.889 conyisti the Read￿n9 Room Fund {£10.330) and The Mallh8ws Chanty1£44,5591. Under a Charity Commission (kder, the Pl￿￿1$Ofth¢ c4d ReadiThJ Room were rnvestsd and have t> be 8¢xumulated for 60 years fiDm 1981. The Matthews Charity is a tharity Crea￿ byJohn Mallhews in 1526 by his will. rt is règistered with the Charity Commission. ts Iru*es being Claverdon PCC. h5 tunds are use(1 rnpaits and maintenance oflhe Pallsh Church of Claverfon. 11 CLAVERDON SUNDAY SCHIXL FUND The Claverdon Sunday sth￿l Fund is a ￿nneCtsd chaftty. Its truthsare Ihe Mini*r and Churthwardens ofClaverdorTr. Its beneficlaries are the parishes ofclaverdon. Preston Bagot and Norb)n Lindsey. During 2022 the Fund made a grant of£16XIO {2021.' £16.500) b Claverdon PCC trj help support yDuth and thildren¥ work wilhin Ihe parish. 12 A quinquennial miew ofthe Church knok plao in 2019. There werg ￿ mai(* ibms of(y)ncem identrfied. 13 PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS. CLAVERDON INDEPENDENT EXAMINER'S REPORT TO THE PCC OF ST. MICHAEL AND ALL ANGELS, CLAVERDON I report on the finanaal statements of the PCC lor the year ermled 31 December 2022. which are set out on pages 4 to 12. Respectlve responslbllftles of trustees and examlner The members of the PCC are reSp(￿ible tr Ihe p￿parati￿ of Ihe financial ststements. The members of the PCC consider that an audit is not required for this year (under Section 145{1) of the Charities Act 2011 {￿8 2011 Acr) and that an Independe￿ examinati￿ is needed. It is my responsibility to: examine the financial ststements under Section 145 of the 2011 Act. to follow the procedures laid down in the General Dtre(kns given by the Charity Commissioners (under Section 145{5)(b) of the 2011 Act): ar)d to state whether particular mattw5 have (x)me to my attention. Basis of independent examlnefs report My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the acc￿nting records kept by the PCC and a comparison of the accounts presented with those recor(Is. It also indudes consmjeration of any unusual items or disdosures in the financial statements and seeking explanations from you as trustees con￿MIng any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and ￿nSequentlY no opinion is given as to whether the financ4al statements present a Yrue and fair viebrf and the report is limit&J to those ￿￿tterS set (xrt in the statem8nt below. Independent èxaminerfs statsment In connedion with my examinat￿. rKJ matter has come to my attent￿. (1) which gives me reasonable (ause to believe that in any material respect the requirements to keep aco)unting records in aCa)rdan￿ with section 130 of Ihe 2011 Act" and to prepare financial ststements which alxord wtth the acc(yJnting records arxl comply with the accounting requirements of the 2011 Act have not been met" or (2> to which. in my opinion, attention should be dravm in order to enable a proper understanding of the finanLial statements to be reached. 8th April 2023 Mr Rlchard Butler 58, Kingfisher Close Warwick CV34 SGD