ST PETER'S CHURCH, DE BEAUVOIR TOWN
TRUSTEES' REPORT & ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Contents
1. Administrative details of the charity and trustees – page 2
2. Trustees' report – pages 3 to 5
3. Independent examiner's report and accounts – pages 6 to 28
This report and accounts were approved by the trustees on 17[th] March 2024 and signed by the chairman on the trustees’ behalf by:
................................................ Rev Dr Simon Cuff, vicar
………………………………
Mr. Paul Snow, treasurer
1
1. Administrative details of the charity and trustees
Trustees and members of the parochial church council (PCC)
Rev. Dr. Simon Cuff Rev. Buki Fatona Iris Bachmann Amanda Bart-Plange Dominic Batchelor Gillian Borrie, resigned 21/5/23 Tyrone Brown Sarah Dallas Anna Dalton, resigned 27/03/23. Boachie Dankwah, resigned 14/11/23. Mae Fredericks Jacqueline Grace Kate Green Amanda Holgate Jane King Paul Snow Lorna Whilby, resigned 21/5/23. Jeannette Wilkes
Charity registered number
1130111
Principal office
St Peter’s Vicarage, 86 de Beauvoir Road, London N1 5AT
Bankers
National Westminster Bank Plc Stoke Newington High Street, London N16 7GA
Website
www.stpeterdebeauvoir.org.uk
2
2. Trustees' report
St Peter's Church is situated in De Beauvoir Town, Hackney, London, N1. It is part of the Diocese of London within the Church of England.
Objectives and Activities
a) Policies and objectives
St Peter’s PCC has the responsibility of cooperating with the Vicar and other parish clergy to promote the whole mission of the church, pastoral, evangelistic, social and ecumenical within the parish. It also has maintenance responsibilities for the whole church building, including the crypt and the parish house at 16 De Beauvoir Road.
The church relies substantially upon the commitment, enthusiasm and professionalism of many volunteers, both within the church and from the wider community and is profoundly grateful to them.
b) Public Benefit Statement
In producing their assessment of the benefit to the public provided by the charity, the trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefits, Charities and Public benefit.
c) Activities undertaken and achievements.
The church is a thriving place of worship. As a parish church it remains a focus of much community activity and also attracts a wider geographical spread of worshippers. Inclusive congregational events include Lent programmes, Christmas carols, regular morning and evening prayer and other services alongside other events such as the Petertide barbeque, Assumption lunch and occasional fundraisers.
Our outreach activities include the warm weekdays project, Saturday ‘Going Deeper’ services, hosting a monthly cost of
3
living round table, and participating in a number of community forums. We support a number of charities through offering a refund on rental fees including Hackney Playbus, Happy Babies and Woven Gold choir providing support for homeless people, mothers and young children and refugees, and for a number of addiction support groups.
Our buildings are a valuable resource and are used for a wide range of mission based and community activities.
Achievements and performance
a. Financial review
The PCC’s Funds are divided into General/Designated, Restricted and Endowment Funds. Restricted Funds can only be used for the purpose for which they are established and we benefit from income derived from the Endowment Funds.
Total income for all funds was £252,121 (2022: £200,746) including £37,644 (2022: £34,299) planned giving by the congregation. Loose plate collections, donations and Gift Aid supplement this giving. Income from letting church and crypt premises was £67,332 (2022: £56,897) and we now work with others such as Sharesy to help maximise the use of these premises.
We also benefit from the huge and irreplaceable voluntary input from a wide section of the community into our various activities.
Our contribution of £50,000 (2022: £25,000) to the Common Fund is planned to continue to increase over the next five years following a large reduction in 2020 due to the pandemic.
b. Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate
4
resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
c. Reserves policy
Reserves are designed to act as a cushion against uncertainties about future risks and costs. The major uncertainties are: maintenance of the fabric of this historic Victorian church and crypt; possible fluctuations in the letting income; the need for continuing investment in staff and maintenance in the crypt space and possible loss of income from 16 De Beauvoir Road if it is used for other purposes such as a house for service.
The PCC considers that free reserves of six months' expenditure are prudent and reviews this policy annually. Total unrestricted expenditure in 2023 was £215,757 (2022: £192,355). At the balance sheet date, total unrestricted funds stood at £122,917 (2022: £131,380). This is marginally higher than the PCC ’s reserves policy requires.
Structure, governance and management
a. Constitution
The Parochial Church Council (PCC) is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC is registered with the Charity Commission (charity number 1130111).
b. Method of appointment or election of Trustees
The method of appointment of Church Wardens and PCC members is set out in the Church Representation rules.
c. Organisational structure and decision making
5
All church attendees are encouraged to register on the Electoral Roll and at the Annual Parish Church Meeting held on 21 May 2023 there were 197 (2022: 195) members.
Day to day management is carried out by the incumbent, church wardens and PCC members.
The PCC carries out its work through regular meetings and also through sub-committees and teams with delegated tasks. The Standing Committee has the power to transact the business of the PCC between meetings.
All buildings are fully insured, and regular fire inspections held. A safeguarding policy is in place and the PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 to have regard to House of Bishops ’guidance on safeguarding children and vulnerable adults.
d. Risk management
The PCC members have assessed the major risks to which the church is exposed, in particular those related to the operations and finances of the church and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
Plans for future periods
It has been recognised that community fundraising and seeking grants will be vital to rebuilding the church in the years ahead – both financially and socially. This is an ongoing task (with some success in 2023) and continuing work to build links with the local community through personal contact and a wider programme of events in our spaces available for hire are included in our plans for the future.
6
Parochial Church Council of St Peter’s Church, De Beauvoir Town Statement of Financial Activities 31st December 2023
| Unrestricted funds Designated funds Restricted funds Endowment funds Total funds Prior year total funds |
|
|---|---|
| Receipts Planned giving Collections and other giving Other voluntary receipts Gift Aid recovered Other receipts Activities for generating funds Investment Income Receipts from church activities Total income Payments Cost of generating funds Missionary and Charitable Giving Parish Share Clergy and Staffing costs Church Running Expenses Hall Running Costs Church Repairs & Maintenance Hall Repairs & Maintenance Governance Costs Total expenditure Net income / (expenditure) resources before transfer |
37,644 - - - 37,644 34,299 - - - - - 6,071 17,897 - 9,149 - 27,045 45,327 13,464 - 1,816 - 15,280 10,678 19,504 - 33,315 - 52,819 3,898 72,818 - - - 72,818 56,897 45,891 - - - 45,891 41,592 624 - - - 624 1,985 |
| 207,842 - 44,279 - 252,121 200,746 10,996 - 207 - 11,203 1,265 3,628 - 17,175 - 20,803 10,272 50,000 - - - 50,000 25,000 56,292 - 5,463 - 61,756 48,076 38,726 - 7,675 - 46,401 91,561 17,943 - - - 17,943 31,208 35,440 - - - 35,440 - 1,697 - - - 1,697 - 1,035 - - - 1,035 1,417 |
|
| 215,757 - 30,520 - 246,277 208,799 |
|
| (7,916) - 13,759 - 5,844 (8,052) |
7
| Transfers Gross transfers between funds - in Gross transfers between funds - out Other recognised gains / losses Gains/losses on investment assets Gains on revaluation, fixed assets, charity's own use Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
20,422 500 11,064 - 31,986 230,602 (8,470) (13,000) (10,516) - (31,986) (230,602) - - - 29,106 29,106 (49,623) - - - - - - |
|---|---|
| 4,037 (12,500) 14,307 29,106 34,950 (57,675) |
|
| 78,884 52,496 44,309 682,366 858,055 915,730 |
|
| 82,921 39,996 58,616 711,472 893,005 858,055 |
Parochial Church Council of St Peter’s Church, De Beauvoir Town Balance Sheet 31st December 2023
| Balance Sheet 31st December 2023 | |
|---|---|
| Class and code Description |
As at 31/12/2023 As at 31/12/2022 |
| Fixed assets 6431 M&G Charifund Income Units G 6434 Vicarage & Hall Endowment B 6435 Vicarage Endowment C 6436 St Peter's Hall D 6437 16 De Beauvoir Road 6440 Plant & Machinery Total Fixed assets Current assets 20488851 Unity trust Current T2 20488864 Unity trust Instant Access 6501 NatWest Current account 6504 NatWest Deposit account 6506 Soldo Business 6510 CCLA (CBF) Deposit Account 6595 Other Debtors 6596 Prepayments & accrued income Z05 Accounts Receivable Total Current assets Liabilities 6601 Loans received 6605 Deferred income 6699 Agency collections 6800 Accruals Total Liabilities Net Asset surplus (deficit) Reserves Excess/(deficit) to date Z01 Starting balances Z02 Other gains/(losses) Z03 Gains and losses own use Total Reserves |
88,295 90,420 102,447 93,637 125,369 114,588 135,361 123,720 260,000 260,000 - - |
| 711,472 682,366 7,908 - 30,168 - 30,149 26,490 - 10,536 4,285 - 119,136 139,136 - - - - - - |
|
| 191,646 176,162 10,113 - - - - 473 - - |
|
| 10,113 473 |
|
| 893,005 858,055 |
|
| 5,844 (32,848) 858,055 940,525 29,106 (49,623) - - |
|
| 893,005 858,055 |
8
| Represented by Funds General (Unrestricted) Designated Restricted Endowment Total |
82,921 78,884 39,996 52,496 58,616 44,309 711,472 682,366 |
|---|---|
| 893,005 858,055 |
Approved by the Parochial Church Council on 17 March 2024 and signed on its behalf by Rev Dr Simon Cuff (PCC Chairman)
The notes on pages 9 to 21 form part of these accounts
As the charity’s income is less than £500,000 during the year a cash flow statement is not required.
9
Parochial Church Council of St Peter’s Church, De Beauvoir Town
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st December 2023 (continued)
1 Accounting policies
The PCC is a public benefit entity within the meaning of FRS102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCC’s, and within the Regulations’ “true and fair” provisions.
ASSETS
Consecrated and benefice property.
In so far as consecrated and benefice property of any kind is excluded from the statutory definition of “charity” by Section 10(2) (a) and (c) of the Charities Act 2011 such assets are not capitalised in the financial statements.
Moveable Church Furnishings
These are capitalised at cost and depreciated over their useful economic life other than where insufficient cost information is available. In this case the item is not capitalised, but all items are included in the Church’s inventory in any case.
Tangible fixed assets for use by the charity
These are capitalised if they can be used for more than one year, and cost at least £1,000. They are valued at cost or else, for gifts-in-kind, at a reasonable estimate of their open market valuation on receipt.
Depreciation is calculated to write off the capitalised cost of fixed assets less their currently anticipated residual fair value over their estimated useful lives as follows:
-
Land Nil • Fixtures & Fittings 20 years
-
• Computers 3 years
No depreciation is provided on buildings as the currently estimated residual value of the properties is not less than their carrying value and the remaining useful life of these assets currently exceeds 50 years. So that any depreciation charges would be immaterial.
An impairment review is carried out at each year-end and any resultant loss identified is included in expenditure for the year.
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Parochial Church Council of St Peter’s Church, De Beauvoir Town
Investments
Investments quoted on a recognised stock exchange or whose value derives from them are valued at market value at the year end. Other investment assets are included at PCC’s best estimate of value.
Short term deposits
These are the cash held on deposit with CCLA or at the bank.
FUNDS
Unrestricted Funds
These represent the remaining income funds of the PCC that are available for spending on the general purposes of the PCC, including amounts designated by the PCC for fixed assets for its own use or for spending on a future project and which are there for not included in its ‘free reserves’ as disclosed in the trustees’ report.
Restricted Funds
These are income funds that must be spent on restricted purposes and details of the funds held and restrictions provided are shown in the notes to the accounts.
Endowment Funds
These are restricted funds which must be retained as trust capital either permanently or subject to a discretionary power to spend capital as income, and where the use of any income or other benefit derived from the capital may be restricted or unrestricted. Full details of all of their restrictions are shown in the notes to the accounts.
NOTES TO THE FINANCIAL STATEMENTS For 31st December 2023
| Total | ||||||
|---|---|---|---|---|---|---|
| **Unrestricted ** | Designated | Restricted | Endowment | This year |
Last year |
|
| 2 INCOME AND ENDOWMENTS | ||||||
| Planned giving | ||||||
| 0103 - CAF | - | - | - |
- |
- | 496 |
| 0105 - Regular giving | 37,644 | - | - |
- |
37,644 | 33,803 |
| Planned giving Totals | 37,644 | - | - |
- |
37,644 | 34,299 |
| Collections and other giving | ||||||
| 0202 - Coloured Env - GASDS | - | - | - |
- |
- | 50 |
| 0203 - Bank - Non GA | - | - | - |
- |
- | 2,132 |
| 0302 - Collection Special Services | - | - | - |
- |
- | 538 |
| 0402 - Ad Hoc Donation - Gift Aid | - | - | - |
- |
- | 2,411 |
| 0406 - Night shelter | - | - | - |
- |
- | 714 |
| 0501 - Online giving | - | - | - |
- |
- | 225 |
| Collections and other giving Totals |
- |
- | - |
- |
- | 6,071 |
11
| Other voluntary receipts | ||||||
|---|---|---|---|---|---|---|
| 0301 - Coll'n at serv inc. white env | 2,823 | - | - | - | 2,823 | 1,696 |
| 0401 - Ad Hoc/One off Donation | 1,743 | - | - | - | 1,743 | 12,441 |
| 0408 - Churchsuite & Contactless | 12,597 | - | 3,384 | - | 15,981 | - |
| 0409 - Save the Music | - | - | - | - | - | 60 |
| 0410 - DWR Afghan | - | - | 1,700 | - | 1,700 | 17,117 |
| 0412 - Music and Worship | - | - | 715 | - | 715 | 50 |
| 0413 - Warm Weekday | - | - | 500 | - | 500 | 1,963 |
| 0414 - Piano | - | - | - | - | - | 7,000 |
| 0416 - Vicar's discretionary | 300 | - | - | - | 300 | - |
| 0417 - Festive refreshments | 434 | - | 207 | - | 641 | - |
| 0418 - Parish nurse | - | - | 2,643 | - | 2,643 | - |
| 0701 - Legacies | - | - | - | - | - | 5,000 |
| Other voluntary receipts Totals | 17,897 | - | 9,149 | - | 27,045 | 45,327 |
| Gift Aid recovered | ||||||
| 0601 - Gift Aid Collected unrestricted |
13,464 | - | - | - | 13,464 | 8,609 |
| 0602 - Gift Aid Collected - restricted |
- | - | 1,816 | - | 1,816 | 1,500 |
| 0603 - GASDS | - | - | - | - | - | 569 |
| Gift Aid recovered Totals | 13,464 | - | 1,816 | - | 15,280 | 10,678 |
| Other receipts | ||||||
| 0800 - Grant recurring | 600 | - | - | - | 600 | - |
| 0801 - Grant non recurring | 15,862 | - | 33,055 | - | 48,917 | 2,641 |
| 1205 - Musician fees | - | - | 260 | - | 260 | 782 |
| 1206 - Other Fees | 1,066 | - | - | - | 1,066 | - |
| 1221 - Souper Tuesday and Open Crypt Donations |
- | - | - | - | - | 26 |
| 1312 - Credit for utility payment | 1,977 | - | - | - | 1,977 | 449 |
| Other receipts Totals | 19,504 | - | 33,315 | - | 52,819 | 3,898 |
| Activities for generating funds | ||||||
| 0901 - Fundraising activities | 5,487 | - | - | - | 5,487 | - |
| 1220 - Hiring Crypt and church | 67,332 | - | - | - | 67,332 | 39,548 |
| 1230 - Hiring Crypt - one off | - | - | - | - | - | 14,065 |
| 1241 - Hiring Church - regular | - | - | - | - | - | 2,870 |
| 1242 - Hiring Church - one off | - | - | - | - | - | 415 |
| Activities for generating funds Totals |
72,818 | - | - | - | 72,818 | 56,897 |
| Investment Income | ||||||
| 1001 - Income from M&G Endow | 5,261 | - | - | - | 5,261 | 5,107 |
| 1002 - Income from CCLA Endow | 4,963 | - | - | - | 4,963 | - |
| 1003 - Interests from CCLA CBF | 9,792 | - | - | - | 9,792 | 10,151 |
| 1004 - Interest from NW / UT | 324 | - | - | - | 324 | 24 |
| 1010 - Rent 16 De Beauvoir | 25,551 | - | - | - | 25,551 | 26,310 |
| Investment Income Totals | 45,891 | - | - | - | 45,891 | 41,592 |
| Receipts from church activities | ||||||
| 1101 - Fees for PCC | 624 | - | - | - | 624 | 1,952 |
| 1251 - Community Events | - | - | - | - | - | 33 |
| Receipts from church activities Totals |
624 | - | - | - | 624 | 1,985 |
| Receipts Grand totals | 207,842 | - | 44,279 | - | 252,121 | 200,746 |
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Parochial Church Council of St Peter’s Church, De Beauvoir Town
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st December 2023 (continued)
| Total | |||||
|---|---|---|---|---|---|
| Unrestricted | Designated | Restricted | Endowment | Thisyear | Lastyear |
| 3 EXPENDITURE | ||||||
|---|---|---|---|---|---|---|
| Cost of generating funds | ||||||
| 1701 - Fees paid to fund raisers |
- | - | - | - | - | 330 |
| 1710 Fundraising cost | 10,996 | - | 207 | - | 11,203 | 936 |
| Cost of generating funds Totals |
10,996 | - | 207 | - | 11,203 | 1,265 |
| Missionary and Charitable Giving | ||||||
| 1801 - Charity Giving | 3,427 | - | - | - | 3,427 | - |
| 1802 - Vicar & | ||||||
| Churchwarden | - | - | - | - | - | 31 |
| discretionary fund | ||||||
| 1804 - DWR Syria | - | - | 6,708 | - | 6,708 | 1,793 |
| 1805 - DWR Afghan | - | - | 10,467 | - | 10,467 | 8,066 |
| 9901 - Gifts to individuals |
201 | - | - | - | 201 | 383 |
| Missionary and | ||||||
| Charitable Giving | 3,628 | - | 17,175 | - | 20,803 | 10,272 |
| Totals | ||||||
| Parish Share | ||||||
| 1901 - Common Fund | 50,000 | - | - | - | 50,000 | 25,000 |
| Parish Share Totals | 50,000 | - | - | - | 50,000 | 25,000 |
| Clergy and Staffing costs | ||||||
| 2001 - Administrator & events co'or |
11,528 | - | - | - | 11,528 | 18,898 |
| 2002 - Bookkeeper | 5,788 | - | - | - | 5,788 | - |
| 2003 - Casual Steward |
3,877 | - | 3,163 | - | 7,040 | 6,155 |
| 2004 - Organist | 810 | - | - | - | 810 | 1,780 |
| 2005 - Music director | 12,678 | - | - | - | 12,678 | 5,953 |
| 2006 - Caretaker | 9,931 | - | - | - | 9,931 | 11,047 |
| 2007 - Pension Scheme |
3,042 | - | - | - | 3,042 | 2,173 |
| 2008 - Musicians | 1,010 | - | 2,300 | - | 3,310 | - |
| 2010 - Payroll Fees | 929 | - | - | - | 929 | 1,660 |
| 2101 - Vicar expenses | 1,414 | - | - | - | 1,414 | - |
| 2102 - Other clergy - | 513 | - | - | - | 513 | 43 |
| expenses | ||||||
| 2104 - Other staff expenses |
4,515 | - | - | - | 4,515 | 193 |
| 2105 - Staff Training | 258 | - | - | - | 258 | 175 |
| Clergy and Staffing costs Totals |
56,292 | - | 5,463 | - | 61,756 | 48,076 |
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Parochial Church Council of St Peter’s Church, De Beauvoir Town
| Church Running Expenses 2106 - Hospitality 2203 - Noisy Church 2204 - General mission and evangelism cost 2211 - Communication - Church 2212 - Comms printing and design 2213 - Website maintenance & development - Church 2214 - Warm weekday 2216 - Parish nurse 2301 - Church running cost 2302 - Cost of services 2303 - Caring for church ground 2304 - Printing & Stationary Church 2306 - Music Related Costs 2307 - Save the Music 2309 - Music and Worship 2310 - Routine maintenance 2311 - Piano 2312 - Bank charges 2314 - Insurance 2401 - Electricity 2402 - Gas & Electricity 2403 - Water 2404 - Pest Control 2405 - Telephone - Church 2406 - Refuse Collection 2407 - Crypt - electricity 2408 - Crypt -Gas 2409 - Crypt - Water 2410 - Crypt Pest Control Church Running Expenses Totals Hall Running Costs 2411 - Crypt - Refuse Collection 2501 - Hire maintenance 2503 - Hire Cleaning 2508 - Telephone - Crypt 2509 - Hire furniture 2510 - 16 De Beauvoir 2512 - Crypt running costs 2514 - Electrical appliances 2519 - Refund of hire 2520 - Broadband crypt - EE 2524 - Legal fees and surveyors Hall Running Costs Totals Church Repairs & Maintenance 2701 - Major Repair Church/Crypt 2901 - Major alterations Church Repairs & Maintenance Totals Hall Repairs & Maintenance 2810 - Major Repair - 16 De Beauvoir Hall Repairs & Maintenance Totals |
- - - - - 2,254 - - - - - 40 4,833 - - - 4,833 - - - - - - 256 - - - - - 487 - - - - - 293 - - 755 - 755 203 - - 470 - 470 - 6,779 - - - 6,779 3,862 - - - - - 2,776 - - - - - 240 - - - - - 4,413 - - - - - 2,665 - - - - - 300 - - - - - 227 5,626 - - - 5,626 51,307 3,750 - 2,250 - 6,000 6,000 496 - - - 496 456 6,667 - - - 6,667 5,492 - - - - - 880 7,091 - 4,200 - 11,291 1,671 1,597 - - - 1,597 384 504 - - - 504 252 - - - - - 391 1,383 - - - 1,383 607 - - - - - 3,960 - - - - - 1,669 - - - - - 226 - - - - - 252 |
|---|---|
38,726 - 7,675 - 46,401 91,561 - - - - - 1,017 834 - - - 834 1,872 13,042 - - - 13,042 18,753 - - - - - 283 769 - - - 769 264 - - - - - 5,004 - - - - - 664 - - - - - 386 250 - - - 250 1,122 - - - - - 267 3,048 - - - 3,048 1,577 |
|
17,943 - - - 17,943 31,208 35,332 - - - 35,332 - 108 - - - 108 - |
|
35,440 - - - 35,440 - 1,697 - - - 1,697 - |
|
1,697 - - - 1,697 - |
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Parochial Church Council of St Peter’s Church, De Beauvoir Town
| Governance Costs 2320 - Auditing & Examination 2602 - PCC Cost 2607 - Admin Governance Costs Totals Payments Grand totals |
1,035 - - - 1,035 795 - - - - - 360 - - - - - 262 |
|---|---|
1,035 - - - 1,035 1,417 |
|
215,757 - 30,520 - 246,277 208,799 |
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st December 2023 (continued)
4 ANALYSIS OF EXPENDITURE INCLUDING ALLOCATION OF SUPPORT COSTS
| UPPORT COSTS | |||
|---|---|---|---|
| Direct | Support | Total | |
| costs | costs | Charitable | |
| Expenditure | |||
| £ | £ | £ | |
| Church Running Expenses | 38,726 | 38,726 | |
| Independent Examination Fee | 1,035 | 1,035 | |
| Total | 38,726 | 1,035 | 39,761 |
| STAFF COSTS | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Wages and salaries | 50,008 | 44,225 | |
| Average number of employees | 5 | 4 |
5 STAFF COSTS
5(a) RELATED PARTIES
A small immaterial portion of the expenses paid to the incumbent may have been related to his services as chairman of the PCC.
No other payments or expenses were paid to any other PCC member, persons closely connected to them or related parties.
Donations from related parties (PCC members) during 2023 were £0
15
Parochial Church Council of St Peter’s Church, De Beauvoir Town
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st December 2023 (continued)
6 ANALYSIS OF TRANSFER BETWEEN FUNDS
£31,986 was transferred between funds
7 FIXED ASSETS
7a) Tangible Fixed Assets
The charity owns the parish house at 16 De Beauvoir Road valued at £260,000.
7b) Investments
| 31/12/2023 | 31/12/2022 | |||
|---|---|---|---|---|
| £ | £ | |||
| Market value | 1stJanuary | 422,365 | 471,989 | |
| Gains | 31,232 | |||
| Losses | (2,125) | (49,624) | ||
| Market value | 31stDecember | 451,472 | 422,365 |
All investments were held in endowment funds
8 CURRENT ASSETS
The only current assets were bank accounts totalling £191,646 (31/12/2022 £176,172).
9 CURRENT LIABILITIES
The only current liabilities were £10,113 loans received during the year (from the diocese) not falling due until 2025. There were no current liabilities in 2022.
16
Parochial Church Council of St Peter’s Church, De Beauvoir Town
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st December 2023 (continued)
10 FUNDS
The charity holds the following funds, and a description of their purpose is attached.
Designated funds
Building - Building maintenance Vicarage redecoration - Vicarage Redecoration Legacy - Legacy Hustwayte
Restricted funds
Catholic life - Catholic Life Community Organisations Cost of Living Fund - National Lottery Community Fund – Community Organisations Cost Of Living Fund Crafty Church - "Crafty Church" Donations for Gifts - Donations For Gifts DWR Afghan - DWR Afghan DWR Syrian - DWR Syrian Music and Worship - Music And Worship Parish nurse - Parish Nurse Piano - Piano RF - Festive refreshments SM - Save the music Vicar's discretionary - Vicar's Discretionary Warm weekday - Warm Weekday
Endowment funds
E - Endowment
17
Parochial Church Council of St Peter’s Church, De Beauvoir Town
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st December 2023 (continued)
11 SUMMARY OF FUND MOVEMENTS
Fund Opening Incoming Outgoing Transfers Gains/Losses Journals Closing
| Building | |||||||
|---|---|---|---|---|---|---|---|
| Designated | 13,000 | - | - | (13,000) | - | - | - |
| Sub-totals | 13,000 | - | - | (13,000) | - | - | - |
| Catholic life | |||||||
| Restricted | - | 2,500 | - | - | - | - | 2,500 |
| Sub-totals | - | 2,500 | - | - | - | - | 2,500 |
| Community Organisations | Cost of | Living Fund | |||||
| Restricted | - | 11,015 | - | (6,116) | - | - | 4,899 |
| Sub-totals | - | 11,015 | - | (6,116) | - | - | 4,899 |
| Crafty Church | |||||||
| Restricted | - | 1,000 | - | - | - | - | 1,000 |
| Sub-totals | - | 1,000 | - | - | - | - | 1,000 |
| Donations for Gifts | |||||||
| Restricted | 500 | - | - | - | - | - | 500 |
| Sub-totals | 500 | - | - | - | - | - | 500 |
| DWR Afghan | |||||||
| Restricted | 28,447 | 6,200 | 10,467 | 279 | - | - | 24,459 |
| Sub-totals | 28,447 | 6,200 | 10,467 | 279 | - | - | 24,459 |
| DWR Syrian | |||||||
| Restricted | 6,819 | - | 6,708 | - | - | - | 111 |
| Sub-totals | 6,819 | - | 6,708 | - | - | - | 111 |
| Music and Worship | |||||||
| Restricted | (47) | 1,152 | 1,900 | (210) | - | - | (1,005) |
| Sub-totals | (47) | 1,152 | 1,900 | (210) | - | - | (1,005) |
| Parish nurse | |||||||
| Restricted | - | 9,143 | 470 | 35 | - | - | 8,708 |
| Sub-totals | - | 9,143 | 470 | 35 | - | - | 8,708 |
| Piano | |||||||
| Restricted | 1,000 | 1,250 | 2,250 | - | - | - | - |
| Sub-totals | 1,000 | 1,250 | 2,250 | - | - | - | - |
| RF | |||||||
| Restricted | - | 207 | 207 | - | - | - | - |
| Sub-totals | - | 207 | 207 | - | - | - | - |
| SM | |||||||
| Restricted | - | - | 400 | 400 | - | - | - |
| Sub-totals | - | - | 400 | 400 | - | - | - |
| Vicarage redecoration | |||||||
| Designated | 500 | - | - | 500 | - | - | 1,000 |
| Sub-totals | 500 | - | - | 500 | - | - | 1,000 |
| Vicar's discretionary | |||||||
| Restricted | 3,143 | 75 | - | - | - | - | 3,218 |
| Sub-totals | 3,143 | 75 | - | - | - | - | 3,218 |
18
| Warm weekday | |||||||
|---|---|---|---|---|---|---|---|
| Restricted | 4,447 | 11,737 | 8,118 | 6,160 | - | - | 14,226 |
| Sub-totals | 4,447 | 11,737 | 8,118 | 6,160 | - | - | 14,226 |
| General | |||||||
| Unrestricted | 78,884 | 207,842 | 215,757 | 11,953 | - | - | 82,921 |
| Sub-totals | 78,884 | 207,842 | 215,757 | 11,953 | - | - | 82,921 |
| E | |||||||
| Endowment | 682,366 | - | - | - | 8,810 | 20,296 | 711,472 |
| Sub-totals | 682,366 | - | - | - | 8,810 | 20,296 | 711,472 |
| Legacy | |||||||
| Designated | 38,996 | - | - | - | - | - | 38,996 |
| Sub-totals | 38,996 | - | - | - | - | - | 38,996 |
| Totals | 858,055 | 252,121 | 246,277 | - | 8,810 | 20,296 | 893,005 |
19
Parochial Church Council of St Peter’s Church, De Beauvoir Town
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st December 2023 (continued)
12 SUMMARY OF ASSETS BY FUND TYPE
| 12 SUMMARY OF ASSETS BY FUND TYPE | 12 SUMMARY OF ASSETS BY FUND TYPE | 12 SUMMARY OF ASSETS BY FUND TYPE |
|---|---|---|
| Class and nominal code General Designated Restricted Endowment Total Lastyear |
||
| Fixed Asset - Investments 6431: M&G Charifund Income Units G - - - 88,295 88,295 90,420 6434: Vicarage & Hall Endowment B - - - 102,447 102,447 93,637 6435: Vicarage Endowment C - - - 125,369 125,369 114,588 6436: St Peter's Hall D - - - 135,361 135,361 123,720 Total - - - 451,472 451,472 422,366 Fixed Asset - Tangible Assets 6437: 16 De Beauvoir Road - - - 260,000 260,000 260,000 Total - - - 260,000 260,000 260,000 Current Asset - Cash At Bank And In Hand 20488851: Unity trust Current T2 6,388 - 1,520 - 7,908 - 20488864: Unity trust Instant Access 30,168 - - - 30,168 - 6501: NatWest Current account (66,942) 39,996 57,096 - 30,149 26,490 6504: NatWest Deposit account - - - - - 10,536 6506: Soldo Business 4,285 - - - 4,285 - 6510: CCLA (CBF) Deposit Account 119,136 - - - 119,136 139,136 Total 93,034 39,996 58,616 - 191,646 176,162 Liability - Agency Accounts 6699: Agency collections - - - - - 473 Total - - - - - 473 Liability - Creditors: Amounts falling due after more than one year 6601: Loans received 10,113 - - - 10,113 - Total 10,113 - - - 10,113 - Net total assets 82,921 39,996 58,616 711,472 893,005 858,055 Represented by General (Unrestricted) 82,921 - - - 82,921 78,884 Designated - Building - - - - - 13,000 Designated - Legacy - 38,996 - - 38,996 38,996 Designated - Vicarage redecoration - 1,000 - - 1,000 500 Restricted - Catholic life - - 2,500 - 2,500 - Restricted - Community Organisations Cost of Living Fund - - 4,899 - 4,899 - Restricted - Crafty Church - - 1,000 - 1,000 - Restricted - Donations for Gifts - - 500 - 500 500 Restricted - DWR Afghan - - 24,459 - 24,459 28,447 Restricted - DWR Syrian - - 111 - 111 6,819 Restricted - Music and Worship - - (1,005) - (1,005) (47) Restricted - Parish nurse - - 8,708 - 8,708 - Restricted - Piano - - - - - 1,000 Restricted - Vicar's discretionary - - 3,218 - 3,218 3,143 Restricted - Warm weekday - - 14,226 - 14,226 4,447 Endowment - E - - - 711,472 711,472 682,366 Total 82,921 39,996 58,616 711,472 893,005 858,055 |
||
- - - 451,472 451,472 422,366 - - - 260,000 260,000 260,000 |
||
- - - 260,000 260,000 260,000 Hand 6,388 - 1,520 - 7,908 - 30,168 - - - 30,168 - (66,942) 39,996 57,096 - 30,149 26,490 - - - - - 10,536 4,285 - - - 4,285 - 119,136 - - - 119,136 139,136 |
||
93,034 39,996 58,616 - 191,646 176,162 - - - - - 473 |
||
- - - - - 473 due after more than one year 10,113 - - - 10,113 - |
||
10,113 - - - 10,113 - |
||
82,921 39,996 58,616 711,472 893,005 858,055 |
||
| Cost of Living Fund Total |
82,921 - - - 82,921 78,884 - - - - - 13,000 - 38,996 - - 38,996 38,996 - 1,000 - - 1,000 500 - - 2,500 - 2,500 - - - 4,899 - 4,899 - - - 1,000 - 1,000 - - - 500 - 500 500 - - 24,459 - 24,459 28,447 - - 111 - 111 6,819 - - (1,005) - (1,005) (47) - - 8,708 - 8,708 - - - - - - 1,000 - - 3,218 - 3,218 3,143 - - 14,226 - 14,226 4,447 - - - 711,472 711,472 682,366 |
|
| 82,921 39,996 58,616 711,472 893,005 858,055 |
20
Parochial Church Council of St Peter’s Church, De Beauvoir Town
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st December 2023 (continued)
13 PRIOR PERIOD COMPATIVE SOFA 31 December 2022
| Unrestricted funds Restricted funds Endowment funds Total funds Prior year total funds |
Unrestricted funds Restricted funds Endowment funds Total funds Prior year total funds |
|
|---|---|---|
| Receipts Planned giving Collections and other giving Other voluntary receipts Gift Aid recovered Other receipts Activities for generating funds Investment Income Receipts from church activities Total income Payments Cost of generating funds Missionary and Charitable Giving Parish Share Clergy and Staffing costs Church Running Expenses Hall Running Costs Church Repairs & Maintenance Hall Repairs & Maintenance New Building work Governance Costs Total expenditure Net income / (expenditure) resources before transfer Transfers Gross transfers between funds - in Gross transfers between funds - out Other recognised gains / losses Gains/losses on investment assets Gains on revaluation, fixed assets, charity's own Net movement in funds Total funds brought forward Total funds carried forward |
34,299 - - 34,299 38,832 5,357 714 - 6,071 4,390 19,197 26,130 - 45,327 26,568 10,678 - - 10,678 12,580 3,898 - - 3,898 70 56,897 - - 56,897 38,436 41,592 - - 41,592 37,370 1,985 - - 1,985 954 |
|
| 173,903 26,844 - 200,746 159,200 1,265 - - 1,265 196 383 9,889 - 10,272 770 25,000 - - 25,000 12,000 48,076 - - 48,076 37,527 85,007 6,554 - 91,561 29,646 31,208 - - 31,208 23,520 - - - - 3,060 - - - - 478 - - - - - 1,417 - - 1,417 1,883 |
||
| 192,355 16,443 - 208,799 109,079 |
||
(18,453) 10,400 - (8,052) 50,121 177,301 53,301 - 230,602 78,102 (179,152) (51,450) - (230,602) (78,102) - - (49,623) (49,623) 58,385 use - - - - - (20,303) 12,251 (49,623) (57,675) 108,506 151,683 32,058 731,988 915,730 807,224 131,380 44,309 682,366 858,055 915,730 |
||
| (20,303) 12,251 (49,623) (57,675) 108,506 |
||
| 151,683 32,058 731,988 915,730 807,224 |
||
| 131,380 44,309 682,366 858,055 915,730 |
21