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2023-12-31-accounts

DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

St John's Church, Easter Centre, Manor Farm Lane Egham, Surrey, TW20 9HR

Annual Report and Financial Statements of the Parochial Church Council of the Ecclesiastical Parish of

St John the Baptist, Egham

for the year ended 31 December 2023

Registered Charity number: 1130185 Address: High Street Egham, Surrey TW20 9HL Office: Easter Centre, Manor Farm Lane Egham, Surrey TW20 9HR Incumbent: The Reverend Esther Prior Chair: The Reverend Esther Prior Deputy Chairman: Canon Keith Malcouronne FCA Treasurer: Sara Holloway Bankers: National Westminster Bank plc 67 High Street Staines, Middlesex, TW18 4PU Registered Auditor: Menzies LLP Chartered Accountants 2[nd] floor, Magna House 18-32 London Road Staines-upon-Thames, Middlesex, TW18 4BP

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Our Values: Inviting Welcoming Courageous Creative Transforming Christ-centred

DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

St John's Church, Easter Centre, Manor Farm Lane Egham, Surrey, TW20 9HR

2023 Annual Report of the Parochial Church Council of the Ecclesiastical Parish of St John the Baptist Egham

registered as a charity, number 1130185. It is a public benefit entity under the Charities Acts.

Members and Charity Trustees of the PCC

Members represent trustees who are trustees for the purposes of charity law.

Members are either ex-officio or elected by the Annual Parochial Church Meeting in accordance with the Church Representation Rules. Under those rules, lay representatives on the PCC are ordinarily expected to serve for a term of three years, with a third of the lay representatives elected each year. Training and induction of new members is the focus of the first meeting of each new PCC.

The following served as members throughout 2023 unless otherwise indicated:

----- Start of picture text -----
Ex-officio members Elected members
Incumbent Revd Esther Prior Chair from 22 May Mr Alan Beer Elected 24 April
Curate Revd James Ellin Chair until 22 May, Mr Conrad Benefield Elected 24 April
stood down 18 June
Revd Mandie Shirnia (excused) Mrs Debbie Benefield
Associate Revd Michael Callaghan (excused) Mr Stephen Cresswell
Ministers Revd Simon Fraser (excused) Mr Philip Darby
Revd Matt Prior (excused) Mr Christopher Gray
Revd Will Bissett Mrs Kamani Hewagama
Church Mr Amin Deiry Mrs Sara Holloway Treasurer
Wardens Mrs Joyce Johnson stood down 3 Mr Philip Holloway
September
Mr Fred Van Huis elected 3 September Mr Michael Senanayake Stood down 24
April
Diocesan Canon Keith Vice Chair, member of Mr Sam Senanayake Elected 24 April
Synod Malcouronne Standing Committee
Represent- until 22 May
atives Mr Paul Kahn Mrs Sacha Sheppard
Mrs Stacey Sobers
Mr Clement Jones Secretary until 22 May Mr Andrew Tebboth
Deanery Mr Conrad Benefield stood down 24 April Mrs Elizabeth Tebboth Elected 24 April,
Synod Secretary from 22
Represent- May
atives Mrs Philomena Evans stood down 24 April Mr Fred Van Huis Elected 24 April
Mrs Joyce Johnson
Mrs Veronica Cresswell elected 24 April
Mr Amin Deiry elected 24 April
Mr Lee Langford elected 24 April
----- End of picture text -----*

*Denotes member of Standing Committee (during term of office where relevant)

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Our Values: Inviting Welcoming Courageous Creative Transforming Christ-centred

DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

St John's Church, Easter Centre, Manor Farm Lane Egham, Surrey, TW20 9HR

The following were Officers during 2023 in addition to those shown above:

Assistant Treasurers: Mr Alastair Marshall until May 31[st] , Mr Chris Gray, Mr Geoff Wickes from April 1[st] Partnership Secretary: Mr Phil Johnson. Associate Partnership Secretary: Mr Andrew Tebboth

The PCC is governed by the Parochial Church Councils (Powers) Measure and charged with:

The Parochial Church Council has referred to the Charity Commission's guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities. In particular, the Parochial Church Council has considered how planned activities will contribute to the aims and objectives it has set.

The PCC has ultimate responsibility for running the church. They set the budgets, agree appointments and together with the vicar determine the aims and objectives of the church and the broad guidelines to be followed. The Wardens and other Officers are engaged in many day to day activities. Also the paid employees and key church members volunteer for much of the church s work.

The remuneration of key management of the church is not specifically determined by the PCC in that the Vicar, who is employed by our diocese of Guildford, is remunerated by and according to pay scales determined by them. The other key officers all act on a voluntary basis and receive no remuneration. Pay for all staff is set by the PCC and follows a review to determine the appropriate rate for the role. Pay increases reflect performance and consider guidance from the diocese. As stated in note 5, members of the PCC who are employed by the church or whose relatives are employed by the church, are excluded from any discussion on remuneration.

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Our Values: Inviting Welcoming Courageous Creative Transforming Christ-centred

DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

St John's Church, Easter Centre, Manor Farm Lane Egham, Surrey, TW20 9HR

The wisdom that comes from heaven is first of all pure; then peace-loving, considerate, submissive, full of mercy and good fruit, impartial and sincere.

James 3.17

2018 into 2019 Introducing our Mission, Vision, Values and Strapline. The PCC worked collaboratively and agreed a mission statement that continues to inspire, values that shape our actions, a strapline that enriches community partnerships and a vision statement that we are growing into. I think more and more that these have become part of our DNA as a church.

2018-Present Debt reduction from £2.1m to £913k.

2020 Present Again the collaborative work of our PCC saw the launching and embedding of our Governance Structure.

Wednesday Communion Service. Welcoming the Ellin family.

2021-Present Transitioning to Teams and Churchsuite as our main administrative and communication tools. Still a work in progress, but I want to acknowledge the hard work and progress made

2022 saw the introduction of what I described as three Companions: Visibility, Invitation and Participation. We made strides in all these areas as we saw a real gear change in our community engagement. Mission Week, Eco Festival and the Community Fridge were particular highlights amongst many.

2023 saw an with an increase in the number of people who have meaningful engagement with the church. This enabled by decades-long ministries (Playbox celebrated 50 years and Playtime 30 Years),

See our Governance circle below and give thanks to God for each ministry mentioned as they all interact with one another for the advancement of the kingdom here.

Week in partnership with our Latin Link Mission partners from Brazil. Saying goodbye to the Ellin family.

As I look back on 2023, as ever I am grateful for all that God has done among us. We have welcomed new people including a growing number of students and greater ethnic and social diversity. We have baptised new Christians, while celebrated as others reaffirmed their Baptism vows. Many have given of their time, talents and treasure to the Ministry and Mission of SJE. As always, I am blown away by the extraordinary and inspiring acts of service. Those who enables us to continue to push on all fronts as we seek to love God, love one another and to love our community.

Love God. Love One Another. Love our Community

To be a loving and growing community released and empowered to join in God's work of proclaiming and demonstrating the good news to Egham and beyond

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Our Values: Inviting Welcoming Courageous Creative Transforming Christ-centred

DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

St John's Church, Easter Centre, Manor Farm Lane Egham, Surrey, TW20 9HR

Take a look at our Governance Circle below and thank God for each person that each segment represents. Also spot the difference

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Our Values: Inviting Welcoming Courageous Creative Transforming Christ-centred

DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

St John's Church, Easter Centre, Manor Farm Lane Egham, Surrey, TW20 9HR

1. Numerical Growth

2. Welcome

3. Prayer

4. Loving our Community Local and Abroad

5. Communication

We have made some progress in these are areas that will need ongoing attention. They are all, in one way or another, included in our Church Development Plan, which was developed in partnership with the Diocesan Mission Enabler Team. See below.

Discipleship Year thanks go to Liz, our Discipleship Pastor, who has been the mastermind behind it all. Through our preaching series and in other ways (Seminar Series, Church at Home Weekend), we will be looking at how we can seek to follow Jesus and walk in his way. First, we will be looking at a Discipleship Toolkit, equipping ourselves to spend time with God as Jesus did, slowing, praying and seeking God in all the ways he taught and demonstrated to us. Across the year, we will look at mission, evangelism and stewardship through the lens of discipleship and will study the marks or characteristics of a disciple, some of which are included in our verse for the year. Our prayer is that we will offer pathways for us all to be with Jesus, become like him, and do as he did. To grow as disciples.

We will continue to progress the priorities of our Church Development Plan a result of the Diocesan Parish Needs process that helped us to identify areas that need focused attention in order to enable us to go to the next level.

We have identified 5 areas:

  1. Growing Sundays

  2. Growing Discipleship

  3. Growing Mission

  4. Growing Green

  5. Growing Congregations

We will make reference to these throughout the year, inviting all to participate as we seek to join in God's work of proclaiming and demonstrating the good news to Egham and beyond.

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Our Values: Inviting Welcoming Courageous Creative Transforming Christ-centred

DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

St John's Church, Easter Centre, Manor Farm Lane Egham, Surrey, TW20 9HR

There were 317 people on the Electoral Roll adopted in April 2023 (2022: 300), of whom 165 (2022: 172) were resident outside the parish. Physical attendance during Sundays in October 2023 averaged 253 adults and 41 children under 16, making a total of 294 (October 2022 averaged 208 adults and 41 children under 16, making a total of 249). The estimated number of people engaging online, either live or later on, in October 2023 was 387.

Promoting a Safer Church

St John s continues to be committed to providing a welcoming, respectful, and safe environment for all, including children and adults who may be at risk of abuse and neglect. The care and protection of children, young people and adults involved in church activities is the responsibility of everyone who participates in the life of the church community. The Parochial Church Council (PCC) takes the requirement to ensure the safety of everyone extremely seriously.

Safeguarding Dashboard

The Church of England has a relatively new reporting system called the Safeguarding Dashboard. We have completed the first two levels and have now reached level three. Level 3 gives us access to the 'Safeguarding Hub' - which will help with our HR processes. The PCC approved the automatically generated Safeguarding Plan that will enable us to move forward with this.

Parish recording form

The template continues to be used regularly and is being treated as a live document so that any updates or reviews are all recorded on one document and can be kept in one place.

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Our Values: Inviting Welcoming Courageous Creative Transforming Christ-centred

DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

St John's Church, Easter Centre, Manor Farm Lane Egham, Surrey, TW20 9HR

Vulnerability Report Sheet

This document has been developed and is now being used effectively.

The report documents the following information:

Cases since last report (November 2023):

There have been 6 instances where I have been notified that there have been concerns involving individuals. All were Vulnerable Adults. Some of the concerns were multiple can be categorised as follows:

In all cases the workers or volunteer involved have responded in a very careful, caring and considered way - taking the correct action and signposting appropriately. In this quarter we have no safeguarding issues. We have a handful of pastoral issues that we are monitoring.

Parish Safeguarding Officers Lorna Jamison and Harriet Langford Email: safeguarding@stjohnsegham.org.uk Tel: 07971 100530

As with most churches and charities, the majority of the PCC s income is the result of voluntary giving. Over the years, especially with the focus on building the Easter Centre, we have seen faithful, sacrificial giving from a significant number of individuals, the majority who give through the Parish Giving Scheme and make and renew pledges through our annual Gift Day. The Finance & Stewardship Sub-Committee, ably supported by our Partnership Secretary, monitors the level of giving, the risk of being dependent on a small number of individuals, and undertake cashflow planning to ensure we can meet our obligations for day to day expenditure as well as the schedule of loan repayments.

The PCC recognises the challenge of having a major multi-year debt burden which could impinge on the immediate mission-based opportunities which require funding. Demonstrating good stewardship alongside faith-stretching financial challenges and recognition of past generosity and blessings, ensures our plans and budget do not stifle the work we feel called to undertake now, while ensuring we can meet our longterm obligations.

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Our Values: Inviting Welcoming Courageous Creative Transforming Christ-centred

DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

St John's Church, Easter Centre, Manor Farm Lane Egham, Surrey, TW20 9HR

Statement of Trustees' Responsibilities

Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year (unless the charity is entitled to prepare accounts on the alternative receipts and payments basis). In preparing financial statements giving a true and fair view, the trustees should follow best practice and:

The trustees are responsible for keeping proper accounting records which disclose, with reasonable accuracy, the financial position of the charity, and which enable them to both ascertain the financial position of the charity and ensure that the financial statements comply with the applicable law, regulations, and trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

No payments were made to PCC members for services as Trustees (other than expense reimbursement).

Review of Financial Activities and Affairs

The PCC Accounts incorporate the activities of all groups operating under its auspices, segregated into those which are unrestricted (for use at PCC discretion) and those which are restricted (where the use has been specified by the donor). Total income for 2023 was £703,848 and expenditure £643,489, leaving a net income of £60,359. These totals include Restricted Income of £122,858 including Gift Aid, towards the Easter Centre related loans.

PCC General Fund

The General Fund comprises unrestricted funds under the direct control of the PCC, except those invested in freehold property, and so covers most normal operating income and expenditure. General Fund income for the year was £405,370 (2022: £381,091). There is a 8.5% increase in unrestricted expenditure at £406,150 (2022: £373,422). The numbers of children, youth, students and adults we connect with has increased and that is reflected in the associated increased costs.

This year our expenditure exceeded our income for our general funds by only £113. As our activities grow and we engage more fully in our community, we are seeing a greater variety of different income sources as well as new areas that need financial support. The bedrock of our income and the confidence we have to explore new ministries is the generosity of the congregation, faithfully giving through the planned partnership. Thank you.

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Our Values: Inviting Welcoming Courageous Creative Transforming Christ-centred

DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

St John's Church, Easter Centre, Manor Farm Lane Egham, Surrey, TW20 9HR

Fundraising standards, reserves, investment, and grants policies

from church members. Although we are not members of any regulatory scheme, the PCC follows the Code of Fundraising Practice established by the Fundraising Regulator. All teaching about Christian stewardship and generosity is scriptural with specific care taken that advantage is not taken of vulnerable members. The fundraising training continues to ensure that the trustees and those involved in fundraising are properly trained and the necessary procedures are followed.

It is the policy of the PCC to maintain a sufficient balance of cash reserves in its General Fund to cover between three and six months of current expenditure, a minimum of £90,000. At the end of 2023 the General Fund cash had a balance of £30,986, plus £12,099 of restricted funds raised to cover current expenditure, and including the Fabric & Repair Fund of £41,670 this is just short of our policy requirement. The church boiler needs replacing and quotes for a direct replacement were in the region of £40k. Alternative, sustainable heating options are being considered to reduce our carbon footprint as well as reduce our utility bills.

a replacement heating system the shortfall could be met at short notice by encashing the £67,961 of CCLA Investment Fund units (value at 31 December 2023).

Our policy is to invest our longer-term General Fund reserves in the CCLA Church of England Investment Fund with a view to growth in income and capital over the medium term.

Grants to mission partners locally and overseas are made on the basis of clear knowledge of and connections (give 10%) our General Fund voluntary income for these , and enhance this giving with appeals.

Financial Outlook and Strategy for 2024

2023 saw Hope Hub establishing itself as resource for the community. This is one of the main ways we have interacted more with the community and it has attracted grant funding. The utility bills did increase by £20k, for which the Christmas appeal in 2022 provided £16.5k. Although utility bills have reduced, the charges are still significantly more than 18 months ago. Other costs continue to increase. Our regular giving continues to provide the majority of our income. 2023 saw an increase in grants. We are looking to significantly increase our grant income in 2024 to fill the gap between our known income and what we need to fulfil the ambitions of our vision. The quinquennial inspection in 2021 identified work which must be undertaken in the coming years to maintain the integrity of the buildings. Due to the significant work undertaken by skilled volunteers from the church community, the remaining work which might need professional attention has been costed at £8k.

Funds are in place for repayment of the financial obligations related to the debt of the Easter Centre which are due up to the next Gift Day. The higher interest rates have been noticeable as we have paid £8k more in interest compared to last year (on reducing capital). Fortunately, half the debt is on a fixed term loan that is currently below the bank base rate.

As set out in Note 2b to the following Financial Statements, the PCC believes the charity is a going concern for at least twelve months from the date of approval of these accounts and that funds will continue to become available to repay its borrowings as they fall due.

We sincerely thank all those who have given financially to support the ongoing ministries of St Johns and paying off the Easter Centre debt, whether that be through our Partnership Scheme or otherwise. All contributions are welcome and appreciated.

On behalf of the Parochial Church Council

Approved on Revd Esther Prior, Chair Page 10

Our Values: Inviting Welcoming Courageous Creative Transforming Christ-centred

DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

John the Baptist Egham for Year Ended 31 December 2023

We have audited the financial statements of the Parochial Church Council of St John the Baptist Egham for the year ended 31 December 2023 set out on pages 15 to 24. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statements of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. This has been done in order for the financial statements to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.

Opinion

In our opinion the financial statements:

December 2023 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and in other respects the requirements of the Charities Act 2011.

Basis of opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Parochial Church Council with respect to going concern are described in the relevant sections of this report.

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DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

John the Baptist Egham for Year Ended 31 December 2023 (Continued)

Other information

The Members of the Parochial Church Council are responsible for the other information. The other information comprises the information included in the Annual report, other than the financial statements and our Auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

the information given in the financial statements is inconsistent in any material respect with the report of the Parochial Church Council; or

sufficient accounting records have not been kept; or

the financial statements are not in agreement with the accounting records; or

we have not received all the information and explanations we require for our audit.

Responsibilities of the Parochial Church Council

responsibilities, the Members of the Parochial Church Council are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the Members of the Parochial Church Council determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Members of the Parochial Church Council are concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Members of the Parochial Church Council either intend alternative but to do so.

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DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

John the Baptist Egham for Year Ended 31 December 2023 (Continued)

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an gh level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

We assessed the susceptibility of the Charity's financial statements to material misstatement, including how fraud might occur. We considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas; posting of fraudulent journal entries, authorisation, processing, and payment of fraudulent expenses and timing of revenue recognition.

Audit procedures performed by the engagement team included:

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DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

John the Baptist Egham for Year Ended 31 December 2023 (Continued)

Auditor's responsibilities for the audit of the financial statements (continued)

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.

website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-andguidance/Standards-and-guidance-for-auditors/Auditors-responsibilities-foraudit/Description-of-auditors-responsibilities-for-audit.aspx.

Use of our report

This report is made solely to the Members of the Parochial Church Council, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Members of the Parochial Church Council those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the Members of the Parochial Church Council, as a body, for our audit work, for this report, or for the opinions we have formed.

Menzies LLP Chartered Accountants Statutory Auditor Magna House 18-32 London Road Staines-Upon-Thames Surrey TW18 4BP

Date: 18-Apr-2024

Menzies LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

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DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

Parochial Church Council of St John the Baptist, Egham Balance Sheet as at 31 December 2023

Note
Fixed Assets
Tangible Fixed Assets:
6
Easter Centre
Freehold Property - Curate House
Audio Visual, Office & Other Equipment
Investment Assets
7
Total Fixed Assets
Current Assets
Debtors and prepayments
8
Cash at bank and in hand: General Fund
11
Cash at bank: Fabric and Repairs Fund
11
Cash at bank: Music & Worship Fund
11
Cash at bank: Building for the Future
11
Cash at bank: Playbox & other Restricted Funds
11
Total current assets
Current Liabilities
9
Bank & other loans due within one year
Creditors, Accruals & Deferred Income
Total current liabilities
Net Current Assets
Total assets less current liabilities
Creditors due after more than one year
10
Bank and interest free loans
Net Assets
Represented by:
Funds
11
Unrestricted funds:
General Fund
Fabric Fund
Music & Worship Fund
Easter Centre Building Fund
Other Freehold Properties Fund
Restricted funds
Endowment Fund:Edward Budgen bequest
Total Funds		 2023
£
£
5,936,848
320,696
9,745
67,961
£6,335,250
16,068
33,467
41,670
29,314
36,105
52,765
209,389
(134,027)
(35,658)
(169,685)
39,704
6,374,954
(778,863)
£5,596,091
100,599
41,670
29,278
4,980,372
320,696
39,629
83,847
£5,596,091		 £
14,673
50,857
41,670
30,395
59,969
77,695
(157,372)
(51,015)		 2022
£
5,936,848
320,696
8,956
62,083
£6,328,583
275,259
(208,387)
66,872
6,395,455
(865,601)
£5,529,854
94,834
41,670
29,945
4,902,420
320,696
56,442
83,847
£5,529,854

Approved by, and signed on behalf of, the PCC on _____ 2024 18-Apr-2024

Revd Esther Prior - Chairman Sara Holloway - Treasurer

Page 15

DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

Parochial Church Council of St John the Baptist, Egham Statement of Financial Activities for the year ending 31 December 2023

Note
Income and endowments from:
Donations and legacies
3a
Church activities
3b
Other trading activities
3c
Investments
3d
Total income
Expenditure on:
Grants made
4a
Church activities
4b
Total expenditure
Net income/(expenditure)
Transfers between funds
Traidcraft to General Fund
Restricted Fund to Freehold Property Fund
Net income/(expenditure) after Transfers
Other recognised gains/(losses)
Unrealised gains on investment assets
Net Movement in Funds
Reconciliation of funds:
Balances brought forward 1 January
Endowment Fund balance (no movement)
Balances carried forward 31 December*		 Unrestrict
2023
2022

£
£
339,871
335,593
47,482
42,990
0
0
16,642
2,113
£403,995
£380,696
44,485
43,653
359,623
329,319
£404,108
£372,972
(£113)
£7,724
0
1,198
0
0
(£113)
£8,922
5,878
(8,222)
£5,765
£700
94,834
94,134
£100,599
£94,834
General Fund		 ed Funds
2023
2022
£
£
0
0
0
0
0
0
1,375
395
£1,375
£395
2,042
450
0
0
£2,042
£450
(£667)
(£55)
0
0
77,952
108,506
£77,285
£108,451
0
0
£77,285
£108,451
5,294,731
5,186,280
£5,294,731
£5,372,016
Freehold, Fabric &
Music Funds		 2023
2022
£
£
187,673
205,681
110,232
105,803
0
0
573
141
£298,478
£311,625
30,477
22,958
206,862
176,277
£237,339
£199,235
£61,139
£112,390
0
(1,198)
(77,952)
(108,506)
(£16,813)
£2,686
0
0
(£16,813)
£2,686
56,442
53,756
£39,629
£56,442
Restricted
Funds		 Total
2023
2022
£
£
527,544
541,274
157,714
148,793
0
0
18,590
2,649
£703,848
£692,716
77,004
67,061
566,485
505,596
£643,489
£572,657
£60,359
£120,059
0
0
0
0
£60,359
£120,059
5,878
(8,222)
£66,237
£111,837
5,446,007
5,334,170
83,847
83,847
£5,529,854
£5,596,091

*Separate columns for the Endowment Fund are not presented as the income of this fund forms part of the General Fund and there were no movements on this fund in either year.

Page 16

DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

Parochial Church Council of St John the Baptist, Egham Statement of cash flows for the year ended 31 December 2023

2023
£
£
Cash flows from operating activities
Net cash provided by operating activities(see reconciliation below)
31,457
Cash flows from investing activities
Dividends, interest and rent from investments
18,590
Purchase of property, plant and equipment
(7,229)
Proceeds from sale of property/investments
0
Net cash generated/(used) by investing activities
11,361
Cash flows from financing activities
Repayment of borrowings
(111,083)
Cash inflows from new borrowings
1,000
Net cash provided by financing activities
(110,083)
Change in cash and cash equivalents in the year
(67,265)
Cash and cash equivalents at the beginning of the year
260,586
Cash and cash equivalents at the end of the year
£193,321
Reconciliation of net income to net cash flow from operating activities
Net income for the year (as per Statement of Financial Activities)
66,237
Adjustments for:
Depreciation charges
6,440
Loss / (Gain) on investments
(5,878)
Dividends, interest and rent from investments
(18,590)
Decrease / (Increase) in debtors
(1,395)
Increase / (Decrease) in creditors
(15,357)
(34,780)
Net cash provided by operating activities
31,457
Analysis of cash equivalents
Cash at bank and in hand
107,404
Notice deposits (less than three months)
85,917
£193,321
Analysis of changes in net debt
At start of
year
Cash-flows
Cash equivalents
260,586
(67,265)
Loans falling due within one year
(157,372)
154,338
Loans falling due after more than one year
(865,601)
(44,255)
Total
(£762,387)
£42,818		 2022
£
£
134,500
2,649
0
0
2,649
(146,282)
5,000
(141,282)
(4,133)
264,719
£260,586
111,837
5,233
8,222
(2,649)
(9,381)
21,238
22,663
134,500
198,673
61,913
£260,586
Non-cash
changes
At end of
year
0
193,321
(130,993)
(134,027)
130,993
(778,863)
£0
(£719,569)

Page 17

DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

PCC of St John the Baptist, Egham Notes to the Financial Statements for the year ending 31 December 2023

Note

1
2
2a
2b
2c
2d
2e
2f
2g
2h		 The Parochial Church Council of the Ecclesiastical Parish of St John the Baptist Egham ("the PCC") is a PCC established under
the Parochial Church Councils Measure (1956) as amended and the Church Representation Rules. It is a charity registered in
England & Wales number 1130185 and meets the definition of a Public Benefit Entity under Financial Reporting Standard 102.
Details of the principal office are included in the PCC's Annual Report.
Accounting Policies
Accounting Convention and Standards
The financial statements have been prepared on a Going Concern basis in accordance with: the Statement of Recommended Practice
Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the
United Kingdom and Republic of Ireland (FRS 102) effective 1st January 2019("the SORP"); the Church Accounting Regulations 2006;
and the Charities Act 2011. They have also been prepared to give a True and Fair view and so have departed from the Charities
(Accounts and Reports) Regulations 2008 but only to the extent necessary to do so to follow the SORP. They are presented in sterling,
the functional currency of the PCC, rounded to the nearest pound. They have been prepared under the historical cost convention,
except for investment assets which are shown at market value, and include all transactions, assets and liabilities for which the PCC is
responsible. They do not include the accounts of groups such as Besom, that owe their main affiliation to another body, nor informal
gatherings of church members. No financial benefit has been reflected in these accounts in respect of the time and effort freely given
by many members of the church involved in the running and administration of church and community activities.
Going Concern
At 31 December 2023, the balance sheet shows net current assets of £30,704 and long term liabilities of (£778,863). The accounts
do not include gifts received and pledges of more than £250,000 for receipt between 2024 and 2028. These gifts and pledges will cover
the repayment of loans due into 2024 up to the Gift Day process. The PCC has prepared cash flow forecasts taking into account
receipts and payments, and the commitment demonstrated by church members and other donors to date, and accordingly believes the
charity is a going concern for at least 12 months from the date of approval of these accounts and that funds will be available to repay
its borrowings for constructing the Easter Centre as they fall due. The accounts are accordingly prepared on the going concern basis.
Funds
Unrestricted funds represent funds of the PCC that are not subject to any restrictions regarding their use and are available for the
general purposes of the PCC. These unrestricted funds include funds designated for a particular purpose by the PCC, such as
the Freehold Property Fund which represents the amount invested (net of loans) in operational properties.
Restricted funds represent funds which may only be used for a particular purpose but remain wholly under the control of the PCC.
Endowment funds are those whose capital must be maintained; only income arising from the endowment may be used as directed.
The only Endowment fund held is the Budgen Bequest which is for the general purposes of the PCC. As explained in Note 6,
this is now invested in part of the Easter Centre, the income and ministry use of which supports the General Fund.
Income and endowments
Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the incoming resource
to which they relate is received. Grants and legacies are accounted for when the PCC becomes legally entitled to receive them.
Income of the Playbox nursery represents the amounts receivable in respect of the provision of nursery facilities during the year.
Dividends and interest are accounted for when receivable. Realised gains or losses are recognised when investments are sold
and unrealised gains or losses on revaluation of investments at the year-end are accounted for through the Statement of Financial
Activities. Income from letting PCC properties is recognised when due. Gains from the revaluation of PCC properties, whether
realised on disposal or unrealised on revaluation, are reported as Other Recognised Gains in the Freehold Property Fund.
Expenditure
Expenditure is accounted for on an accruals basis but excludes time or materials freely given by members.
Grants are accounted for when awarded, if that award creates a binding or constructive obligation on the PCC.
All costs are directly attributable to the different categories of expenditure and so no allocation or apportionment is made.
Fixed Assets
Tangible Assets - Land and Buildings
Consecrated and beneficed property is excluded from the financial statements in accordance with the Charities Act 2011. The Easter
Centre has been built on land held in trust by the Diocese of Guildford on behalf of the PCC and is carried at cost including capitalised
interest on loans taken out to fund construction costs in advance of donations received. Other freehold land and buildings held on
behalf of the PCC are valued at cost or the PCC's estimate of market value in 2007 (if later). No depreciation is charged against
freehold properties as their residual values are considered equal to or greater than their carrying value in the accounts.
Tangible Assets - Equipment
No value is placed on church inventory furnishings held by the churchwardens on trust for the PCC and which require a faculty
for disposal. Other equipment held in the church premises and elsewhere is included at historical cost and depreciated
over its estimated useful life of 5 years. Individual items costing less than £1,000 are written off when they are acquired.
Investments
Investments are stated at market value at the balance sheet date.
Public benefit entity concessionary loans
Interest free loans from church members towards the public benefit of the Easter Centre are accounted for as concessionary
loans under FRS 102. Details are set out in Note 11: Creditors due after more than one year.
Pension costs
The PCC operates a defined contribution pension scheme. The assets are held separately from those of the PCC in independently
administered funds. Employer contributions are charged to resources expended as they became payable.

Page 18

DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

PCC of St John the Baptist, Egham Notes to the Financial Statements for the year ending 31 December 2023

Note
General & Building
2023
2022
3
INCOME AND ENDOWMENTS FROM:
£
£
3a
Donations and legacies
Partnership Planned Giving scheme
236,613
273,239
Tax recoverable
59,362
56,380
Collections & Appeals
9,009
2,313
Gifts CAP, Kitchen, Caddey & Playbox
28,487
2,925
Grants Received
5,400
736
Easter Centre gifts
0
0
Legacies
1,000
0
Total
£339,871
£335,593
3b
Church activities
Residential & mission trips fees
0
1,917
Don. & subs - youth / other activities
4,196
4,049
Donations for use of facilities
35,116
30,517
PCC fees
2,271
2,302
Playbox fees & grants
0
0
Other - Concerts/Courses
5,899
4,205
Total
£47,482
£42,990
3c
Fundraising and trading activities
Playbox fundraising
0
0
Total
£0
£0
3d
Investments
Dividends & interest income
4,817
2,508
Rental of properties
13,200
0
Total
£18,017
£2,508
Total Income
£405,370
£381,091
4
EXPENDITURE ON:
Charitable activities:
4a
Grants made
Overseas mission organisations
22,500
23,500
Home mission organisations
18,213
15,508
Training grants
4,922
5,095
Travel bursaries
892
0
Total
£46,527
£44,103
(see Note 5d for further details)
4b
Church activities
Ministry Team
Diocesan parish share
121,095
122,484
Clergy team expenses
4,054
4,488
Other salaries, expenses & Playbox
59,959
57,533
Total
£185,108
£184,505
Ministry costs
Worship
8,292
6,484
Adult mission inc. CAP & Kitchen
16,799
14,714
Youth mission & Playbox
14,366
12,343
Residential and mission trips
1,104
1,482
Other events and activities
4,474
3,455
Total
£45,035
£38,478
(No columns for the Endowment Fund are shown in the following notes a		 Restricted
Total
2023
2022
2023
2022
£
£
£
£
8,025
0
244,638
273,239
17,597
25,333
76,959
81,713
10,554
39,652
19,563
41,965
3,205
20,044
31,692
22,969
43,000
2,350
48,400
3,086
105,292
118,302
105,292
118,302
0
0
1,000
0
£187,673
£205,681
£527,544
£541,274
0
0
0
1,917
0
0
4,196
4,049
(16,200)
(16,200)
18,916
14,317
0
0
2,271
2,302
126,432
121,769
126,432
121,769
0
234
5,899
4,439
£110,232
£105,803
£157,714
£148,793
0
0
0
0
£0
£0
£0
£0
573
141
5,390
2,649
0
0
13,200
0
£573
£141
£18,590
£2,649
£298,478
£311,625
£703,848
£692,716
10,554
6,295
33,054
29,795
19,923
12,703
38,136
28,211
0
3,960
4,922
9,055
0
0
892
0
£30,477
£22,958
£77,004
£67,061
0
0
121,095
122,484
0
0
4,054
4,488
134,437
121,670
194,396
179,203
£134,437
£121,670
£319,545
£306,175
0
128
8,292
6,612
(200)
3,140
16,599
17,854
11,023
11,931
25,389
24,274
0
0
1,104
1,482
0
0
4,474
3,455
£10,823
£15,199
£55,858
£53,677
s the income of this fund forms part of the General Fund.)

Page 19

DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

PCC of St John the Baptist, Egham Notes to the Financial Statements for the year ending 31 December 2023

Note
General Fund
EXPENDITURE (continued):
2023
2022
4b
Church activities (continued)
£
£
Provision of buildings and equipment
Church
Utilities
12,896
6,094
Insurance
3,493
3,064
Cleaning and maintenance
4,734
4,232
Quinquennial/major works/repairs
3,125
4,442
Total
£24,248
£17,832
Easter Centre
Utilities
10,280
14,732
Insurance
2,224
1,950
Maintenance and gardening
13,034
8,488
Cleaning
7,039
6,905
Rent and management
0
0
Total
£32,577
£32,075
Caddey operating costs
£2,757
£1,608
Houses
Vicarage
232
303
Curate's house
1,311
725
Total
£1,543
£1,028
Depreciation of fixed assets
6,440
5,233
Total
£67,565
£57,776
Other expenditure
Interest payable, bank & legal fees
0
0
Kitchen purchases
0
0
Total
£0
£0
Support costs
Parish Administrator and Assistants
39,903
28,403
IT & Phone
7,239
8,996
Office Costs
2,279
2,486
Bank & other service fees
1,994
1,564
Other support costs
0
241
Total
£51,415
£41,690
Governance costs
Audit fee
10,500
6,870
Total church activities
£359,623
£329,319
Total Expenditure
£406,150
£373,422
5a
Resources Expended
The following have been expensed through the General Fund:
Auditors' remuneration including Value Added Tax thereon
5b
Employee information and key management personnel
Average number of full or part-time employees directly employed by the PCC
Average number of full or part-time employees directly employed by Playbox
Total employee emoluments paid by
Salaries
the PCC (including Playbox):
Employer pension contributio
Employer National Insurance		 Rest
2023
£
0
0
120
0
£120
16,556
0
0
0
0
£16,556
0
0
0
£0
0
£16,676
44,755
0
£44,755
0
0
0
171
0
£171
0
£206,862
£237,339

ns		 ricted
2022
£
0
0
0
0
£0
0
0
0
0
0
£0
£3,900
0
0
£0
0
£3,900
34,958
356
£35,314
0
0
0
194
0
£194
0
£176,277
£199,235
£
10,500
2023
9
9
202,793
2,942
3,808
£209,543		 T
2023
£
12,896
3,493
4,854
3,125
£24,368
26,836
2,224
13,034
7,039
0
£49,133
£2,757
232
1,311
£1,543
6,440
£84,241
44,755
0
£44,755
39,903
7,239
2,279
2,165
0
£51,586
10,500
£566,485
£643,489		 otal
2022
£
6,094
3,064
4,232
4,442
£17,832
14,732
1,950
8,488
6,905
0
£32,075
£5,508
303
725
£1,028
5,233
£61,676
34,958
356
£35,314
28,403
8,996
2,486
1,758
241
£41,884
6,870
£505,596
£572,657
£
6,870
2022
9
9
182,571
2,053
1,378
£186,002

There are no employees with emoluments above £60,000.

These figures exclude the Incumbent and Curate, who are employed by Guildford Diocese, paid for from Parish Share (in note 4b) and considered to be the key management personnel overseeing the ministry of St John's that is resourced by the PCC.

Page 20

DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

PCC of St John the Baptist, Egham Notes to the Financial Statements for the year ending 31 December 2023

Note

5c Transactions with members of the PCC and their immediate families

Donations of £91,527 were recorded from PCC members and their immediate families, during their period of membership falling within 2023 (2022: £96,881). This total does not include Gift Aid which was also received in respect of most of these donations. Salaries and expenses paid as permitted by section 3A of the Parochial Church Councils (Powers) Measure 1956:

Mrs V Cresswell is employed as part time Church Administrator and received salary and pension contributions of £7,635 during her time on PCC. Mr C Jones was employed as a Communications Administrator and received a salary and pension contributions of £2,303 during his time on the PCC. Mrs P Evans was employed as the Pastoral Assistant Leader and received a salary of £868 during her time on PCC. Mrs J Johnson received £125 for her services as a verger fees.

None of their remuneration was in respect of their services as PCC trustees.

Our Incumbent and Curate (who are employed by the Diocese and remunerated out of our Parish Share) were reimbursed expenses, as were some other PCC members, none of which related to their services as PCC members.

Related parties

Steve Cresswell is married to the Church Administrator. He was excluded from decisions about employment or remuneration, as were the PCC members directly employed by the PCC.

Keith Malcouronne is a director of Acuity Professional Limited which administered the PCC and Playbox payrolls for fees of £1,008 including and of BC Technologies LLP who provided IT support for a total cost of £1,830. Keith and Rev. Esther Prior are both directors of the Guildford Diocesan Board of Finance, which receives the parish share of £121,095. Phil & Sara Holloway received rent totalling £3,200 (£400 /month) for housing the intern.

5d Grants payable

Grants were made during the year to the following organisations (included
Overseas mission:
£
Latin Link Brazil: Flatmans
12,735
Child Action Lanka
12,153
My Fathers House Olinda Brazil
7,166
Bible Society
1,000
Total grants to organisations
£33,054		 within note 4a above):
Home mission:
East to West Trust
Christians Against Poverty
Faith Awareness in Children Trust
Runnymede Deanery Synod
Guildford Diocese: Local Ministry Program
Lay Training
Farewell gift
Hardship Fund grants
Choral scholars		 £
4,500
5,400
3,000
1,209
1,250
2,522
4,104
19,923
1,150
£43,058

In addition, collections were taken up or other gifts received for the following charities where the PCC was acting as agent for these recipients. Accordingly, these amounts did not form part of the income or expenditure of the PCC in these financial statements:

British Legion (Remembrance Sunday) £581

6 Fixed Assets for use by the PCC

Cost or valuation
At 1 January 2023
Additions
Disposals
At 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
Disposals
At 31 December 2023
Net book value at 31 December 2023
Net book value at 31 December 2022		 Tangible fixed assets
£
£
£
£5,936,848
£320,696
£94,738
0
0
7,229
0
0
0
£5,936,848
£320,696
£101,967
0
0
85,782
0
0
6,440
0
0
0
£0
£0
£92,222
£5,936,848
£320,696
£9,745
£5,936,848
£320,696
£8,956
Easter
Centre
33 Grange
Road
Audio visual, office
& other equipment		 Total
Fixed Assets
£
6,352,282
7,229
0
£6,359,511
85,782
6,440
0
£92,222
£6,267,289
£6,266,500

33 Grange Road was revalued by the Trustees to estimated market value at October 2007, its second such revaluation since inclusion in the accounts. It was bought in 1979 as curate housing at a cost of £31,950 and the Trustees are not aware of any impairment in value since the 2007 valuation.

The Endowment Fund of £83,847 is invested into the Easter Centre for continuing use in mission and ministry of St John's parish, in accordance with the bequest of Edward Budgen in 1954.

Page 21

DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

PCC of St John the Baptist, Egham Notes to the Financial Statements for the year ending 31 December 2023

Note

Following the transfer of land previously owned by the Vicar and Churchwardens to the PCC, on some of which the Easter Centre is built, the PCC now also owns the land on which the Caddey stands and the car park is laid. This was originally received at no cost from Runnymede Borough Council in exchange for some land adjoining the High Street where the war memorial is located.

7
Investment Assets
CBF Investment Fund income shares
CBF Deposit Fund
Total		 Net Book Value
at 1 January 2023
£
61,938
145
£62,083		 Additions/
Unrealised
N
disposals
gain/(loss)
at 31 D
£
£
0
5,878
0
0
£0
£5,878		 et Book Value
ecember 2023
£
67,816
145
£67,961

The CBF Church of England Investment Fund shares produced a total return (including dividends paid into the General Fund) for 2023 of 12.57% before management expenses which was slightly worse than the Composite Charity Investment Benchmark return of 13.28% which is used as the PCC's investment performance benchmark. As a participant in the CBF Church of England Funds managed by CCLA (Church, Charity and Local Authority) Investment Management Limited, the PCC adopts the ethical investment policies explicit in these funds. A copy of these policies is available at https://www.ccla.co.uk/resources/client-documentation#the-cbf-church-of-england-funds The CBF Church of England Investment and Deposit Funds are managed by CCLA Investment Management Limited, which is 60% owned by the Investment Fund. An annual management charge of 0.55% is taken from capital.

8
9
10		 2023
2022
£
£
Debtors & prepayments
Income tax recoverable
6,690
10,182
Other debtors and prepayments
8,142
4,134
Playbox and other restricted debtors
1,236
357
Total
£16,068
£14,673
Current Liabilities
Bank loans falling due within one year (note 11)
100,693
97,038
Concessionary loans
33,334
60,334
Creditors, Accruals & Deferred Income
35,658
51,015
Total
£169,685
£208,387
Creditors due after more than one year
This figure represents loans totalling £692,197 from Lloyds Bank plc and £86,666 of interest-free loans from church members to help
pay for the Easter Centre prior to further gifts and grants being received in the future. The loans from church members have provided
new funding to allow early repayment of external, interest bearing, debt.
Amounts falling due:
in one year or on demand
bank loans
100,693
97,038
concessionary loans
33,334
60,334
in more than one but not more than two years: bank loans
101,629
97,660
concessionary loans
33,333
33,333
in more than two but not more than five years: bank loans
320,505
308,456
concessionary loans
53,333
53,333
in more than five years: bank loans
268,063
372,819
concessionary loans
2,000
0
£912,890
£1,022,973
less:
included in creditors falling due within one year
(134,027)
(157,372)
Amounts falling due after one year
£778,863
£865,601
Creditors & accruals includes £10,565 (2022 £18,286) received in advance from Surrey County Council for Playbox grants which will
be earned in 2024. It also includes £4,250 in grants raised for the Park Run.

The external loans are from Lloyds Bank and are supported by a letter of comfort from the Guildford Diocesan Board of Finance. Two loans of £750,000 each were initially interest only, but repayments commenced in 2018 and are payable by instalments over the following 13 years with interest on one fixed at 4.26% and the other at a variable interest rate of 2.35% over Lloyds Bank Base Rate.

Page 22

DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

PCC of St John the Baptist, Egham

Notes to the Financial Statements

for the year ending 31 December 2023

Note

11 Analysis of net assets and movements in Funds

Restricted funds comprise donations for which the use has been specified by the donor. These include funds towards the Campus Dev Mgr, Playbox. Now the Easter Centre is complete, donations to pay for it are transferred to unrestricted funds as received.

The endowment fund comprises the Edward Budgen bequest to which the PCC has access to the income from, or use of, its invested assets (now in the Easter Centre) for its general purposes. The original value of the Edward Budgen bequest in 1954 is not now known.

11a
Analysis of Net Assets/(Liabilities) by Fun
as at 31 December 2023
Fixed Assets
Easter Centre
Other buildings & Equipment
Investments
Current Assets
Cash at Bank, on Deposit and In Hand
Debtors and Prepayments
Current Liabilities
Bank and other loans due within 1 year
Creditors, Accruals & Deferred Income
Bank & other loans due after 1 year
Net Assets/ (Liabilities)
11b
Movement of Funds:
Restricted funds:
Garden of Remembrance Hodder Legacy
The Caddey
Campus Development Manager Fund/Parish
2024 Intern Fund
Bicycle repair shop
ParkRun
Utility Bill Assistance Fund
Mission Partners
Other restricted funds(as above)
Playbox
Hardship Fund
Building for the Future / Easter Centre
Total restricted funds
Unrestricted funds:
General Fund
Fabric Repairs Fund
Music & Worship Fund
Easter Centre
Other Freehold Property Fund
Endowment FundEdwardBudgen bequest
Total Funds		 d
Unrestricted
funds
Playbox
£
£
5,853,001
0
330,441
0
67,961
0
140,556
18,887
14,832
150
(134,027)
0
(21,286)
(14,372)
(778,863)
0
£5,472,615
£4,665
1st January
2023
Transfers
323
1,997

4,633
0
0
0
8,531
0
0
£15,484
£0
9,536
31,422
0
(77,952)
£56,442
(£77,952)
94,834
41,670
29,945
4,902,420
77,952
320,696
£5,389,565
£77,952
83,847
£5,529,854
£0
Re		 Hardship
Other funds
£
£
0
0
0
0
0
0
14,829
19,049
105
981
0
0
0
0
0
0
£14,934
£20,030
Income and
endowments Expenditure
0
(120)
0
0
37,250
(29,784)
1,000
(19)
500
0
4,250
0
8,025
(16,556)
10,554
(10,554)
£61,579
(£57,033)
110,805
(115,676)
3,236
(19,724)
122,858
(44,906)
£298,478
(£237,339)
387,795
(387,908)
1,375
(2,042)
£389,170
(£389,950)
£687,648
(£627,289)
stricted funds		 Endowment
Total
fund
£
£
83,847
5,936,848
0
330,441
0
67,961
0
193,321
0
16,068
0
(134,027)
0
(35,658)
0
(778,863)
£83,847
£5,596,091
31st December
Gains
2023
203
1,997
12,099
981
500
4,250
0
0
£0
£20,030
0
4,665
14,934
0
0
£0
£39,629
5,878
100,599
41,670
29,278
4,980,372
320,696
£5,878
£5,472,615
83,847
£5,878
£5,596,091

The transfer between funds of £77,952 (2022: 108,506) represents amounts received in donations towards repaying the loans related to building the Easter Centre less interest expense on those loans.

The comparative figures for 2022 are shown in Notes 11c and 11d on the following page.

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DocuSign Envelope ID: 7D4C19D1-3606-4CE8-9A34-246B1AFDA4DE

PCC of St John the Baptist, Egham Notes to the Financial Statements for the year ending 31 December 2023

Note

11c
Analysis of Net Assets/(Liabilities) by Fun
as at 31 December 2022
Fixed Assets
Easter Centre
Other Buildings & Equipment
Investments
Current Assets
Cash at Bank, on Deposit and In Hand
Debtors and Prepayments
Current Liabilities
Bank and other loans due within 1 year
Creditors, Accruals & Deferred Income
Bank & other loans due after 1 year
Net Assets/ (Liabilities)
11d
Movement of Funds:
Restricted funds:
Traidcraft
Garden of Remembrance Hodder Legacy
The Caddey
Community Kitchen
Campus Development Manager Fund
Utility Bill Assistance Fund
Chuter Choir Boys' Prize/ Vicar's Disc. Fund
Mission Partners
Other restricted funds(as above)
Playbox
Building for the Future / Easter Centre
(transfer of construction costs paid from gifts receiv
Total restricted funds
Unrestricted funds:
General Fund
Fabric Repairs Fund
Music & Worship Fund
Easter Centre
Other Freehold Property Fund
repayments increasing the property equity)
Endowment FundEdwardBudgen bequest
Total Funds		 d
Unrestricted
funds
Playbox
£
£
5,853,001
0
329,652
0
62,083
0
182,891
30,589
14,316
357
(157,372)
0
(29,405)
(21,410)
(865,601)
0
£5,389,565
£9,536
1st January
2022
Transfers
1,077
(1,198)
1,000
4,220
31,709
4,633
0
128
0
0
£42,767
(£1,198)
10,989
0
(108,506)
ed)
£53,756
(£109,704)
94,134
1,198
41,670
30,000
4,793,914
108,506
320,696
£5,280,414
£109,704
83,847
0
£5,418,017
£0
Re		 Kitchen
Other funds
£
£
0
0
0
0
0
0
31,622
15,484
0
0
0
0
(200)
0
0
0
£31,422
£15,484
Income and
endowments Expenditure
234
(113)
(677)
1,000
(3,223)
12,682
(12,969)
26,500
(26,500)
8,531
(128)
13,152
(13,152)
£62,099
(£56,762)
122,091
(123,544)
143,634
(35,128)
£327,824
(£215,434)
364,496
(356,772)
395
(450)
£364,891
(£357,222)
0
0
£692,715
(£572,656)
stricted funds		 Endowment
Total
fund
£
£
83,847
5,936,848
0
329,652
0
62,083
0
260,586
0
14,673
0
(157,372)
0
(51,015)
0
(865,601)
£83,847
£5,529,854
31st December
Gains
2022
0
323
1,997
31,422
4,633
8,531
0
0
£0
£46,906
0
9,536
0
0
£0
56,442
(8,222)
94,834
41,670
29,945
4,902,420
320,696
(£8,222)
£5,389,565
0
83,847
(£8,222)
£5,529,854

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