PAROCHIAL CHURCH COUNCIL OF ST. MARY’S WHITKIRK
(Registered Charity No. 1130280)
ANNUAL REPORT
AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Incumbent: The Reverend Matthew Peat (To October 2023) Address: Whitkirk Vicarage 386 Selby Road Whitkirk Leeds LS15 0AA Bank: Virgin Money Crossgates Branch 10 Austhorpe Road Leeds LS15 8DL Investment Managers: CCLA Investment Management Ltd The CBF Church of England Funds 80 Cheapside London EC2V 6DZ Independent Examiner: White Rose Accounting for Charities The Ghyll Threapland Aspatria CA7 2EL
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Aims and Purposes
St Mary’s Church Parochial Church Council (PCC) has the responsibility of co-operating with the incumbent in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical.
As part of the Church of England, the Parish Church of St Mary’s, Whitkirk aims to be a Christian presence in the community by proclaiming the good news of God’s kingdom through;
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Prayer and worship
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Trusting in God: Father, Son and Holy Spirit
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Teaching, baptizing and nurturing in faith
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Fellowship and acts of loving service
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Stewardship and concern for justice
The PCC is also responsible for the maintenance of the fabric of the Grade I listed church building and the Community Centre.
Objectives and Activities
As a registered charity the PCC have taken note of the Charity Commission’s guidance on public benefit, particularly the specific guidance in respect of the advancement of religion.
The PCC is committed to enabling as many people as possible to worship at the Church, and to become part of the life of the wider community. The PCC maintains an overview of worship within the parish and considers how the services meet the spiritual requirements of the differing groups in the area.
Our Vision Statement is;
‘Where all find a welcome and are nurtured in their journey with Christ’
Regular Worship and Attendance Information
The combined attendance at the two regular weekly services exceeds one hundred. Regular services continued to be streamed, and a streaming service for weddings and funerals made available. St Mary’s had 167 persons registered on the Electoral Roll in 2023
We encourage baptism and welcome many couples for their wedding at St. Mary’s. Funerals are also an important part of our work in the community. These take place either in the church or in one of the local crematoria.
The church maintains an open cemetery in which all residents of the parish have a right under law to be buried and, although now closed to new full graves, re-openings of existing plots and plots for the burial of cremated remains are available.
In 2023 we celebrated 17 baptisms, 8 weddings and held 25 funerals in church with a further 9 taken at crematoria. There were 7 burials and 25 burials of cremated remains.
Two Memorial Services were held in 2023.
The Church and St Mary’s Community Centre
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The current church building is a Grade I listed structure and is predominantly from the 14th and 15th Centuries, although there is evidence of earlier structures dating back to pre-conquest times.
St Mary’s Community Centre provides a facility for numerous groups in the local community, including Guiding units, Luncheon Clubs, Whitkirk Arts Guild and several weight and health groups. The Centre is also let out for private functions for all ages.
It remains the intention of the PCC to encourage more community use.
Financial Review
The General Fund saw an income increase in 2023 of 15% over the previous year. Our Planned Givers, being most generous during the year, provided a 10.5% increase. The other significant increase being bar takings (50%). Expenditure for 2023 saw a 16% increase over the previous year. Besides the expected inflationary increases the cost of printing almost doubled, and we increased the amount of Parish Share.
Reserves Policy
It is PCC policy to maintain, where possible, a balance of General funds current assets equivalent to three months of unrestricted running costs, currently £28,500, excluding Parish Share. This is to cover any unexpected reduction in income or emergency situations that may arise. The year-end balance of £29,084 of General funds (£146,022 including designated funds) indicates there are sufficient reserves.
Volunteers
St Mary’s is only able to provide the range of services and activities that makes up the vibrant church community because of the many volunteers who give freely of their time and skills. Teams of volunteers are engaged in all aspects of work, church services, pastoral care, cleaning of the church, church flowers, maintenance of the Church and Church Hall, tidying the churchyard and cemetery, organizing events, bar staff, magazine production, and secretarial services. It would be unfair to recognize all individuals by name, but the PCC would like to thank the volunteers for their tireless endeavours.
Structure, Governance and Management
St Mary’s Church is situated on Selby Road, Whitkirk, Leeds. It is part of the Diocese of Leeds within the Church of England. The correspondence address is St Mary’s Community Centre, 390 Selby Road, Whitkirk, Leeds LS15 0AA.
The PCC is a body corporate (PCC Powers Measure 1956, Church Representation Rules 2006) and a charity registered with the Charity Commission (Registered No. 1130280)
Members of the PCC are either ex-officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules.
PCC members are responsible for making decisions on all matters of general concern and importance to the parish, including decisions on how the funds are to be spent.
During the year the following served as members of the PCC:
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Incumbent: The Reverend Matthew Peat (Chair) to Oct 2023 Reader: Lynne Pickersgill
Churchwardens:
Melvin Herring (Vice Chair) Elaine Roberts (Vice Chair) Deputy Churchwarden: Janet Blenkinsop
Representatives on the Deanery Synod: Lynne Pickersgill David Scholey (from Sept 2022) Elected Members: Alistair Hezel Joan Williams Nick Jackson Catherine Sirrell James Black Jean Bradley Shelagh Freer Sue Middleditch (Secretary) David Waddington Adam Kelly
The PCC met on 9 occasions during the year. The average attendance at meetings was 89%.
Churchwardens Report
2023 a year with a big surprise.
Safe to say 2023 offered a surprise that perhaps none of us would have predicted at the time of the last Annual Meeting. It was sad to see Matthew leave us at the end of October having been Vicar of Whitkirk for the past 10 years (initially as Priest in Charge). It was though good to be able to celebrate his time with us and know that he left with very fond memories of St Mary’s and its people.
Setting aside the change at the top 2023 has been another busy year for us all.
It was good to be able to welcome Fr John Gribbin during Holy Week and then on Easter Sunday. Listening to a different voice and getting a different perspective is valuable in enriching our own faith. Fr John enjoyed his time with us so much he popped back to help us celebrate our Patronal Festival in September!
Together we celebrated the Coronation of King Charles with our Big Lunch followed by a special evensong service. It is always wonderful to get together and celebrate national events; no one quite does it like Whitkirk!
The Christmas Fair must have been the busiest one for quite a few years and it was great to see so many families coming along. Santa was really really busy and we think we should count ourselves fortunate he had enough energy to get round to us all before we got up on Christmas morning.
Paying our bills continues to be a struggle and our biggest one, the Parish Share was missed by quite a margin again. Whilst we did pay £84,000 (a not insignificant amount) this was against a request of just over £112,000, so
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a shortfall of over £28,000. The ‘Yours Lord’ campaign was successful in attracting new givers and in encouraging existing givers to increase their regular contribution. Thank you to everyone who contributes financially to St Mary’s.
Amongst other things the PCC agreed to install solar panels on the Community Centre to save money and the environment (they have now been installed) and also to commission work to deal with damp in the Northwest corner of Church and tidy up the space where the Tech equipment is housed. We will share more information on this as the plans progress. All of this work is possible thanks to a very generous gift left to St Mary’s by the late Bea Greenwood in her will.
The PCC continues to work towards finding a new Vicar and has been working with the Diocese to get to a position where the vacancy can be advertised. We will share more information on this as soon as we can.
St Mary’s continued success relies in large part on all those who volunteer their time and talents to keep the show on the road so thank you to everyone who has done anything at all this year to help out; we can’t possibly name everyone here but you know who you are and deserve a pat on the back. Thank you for being you!
On behalf of the PCC
Elaine, Melvin & Janet Team Churchwarden Date 23rd April 2024
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REPORT OF THE EXAMINER TO THE TRUSTEES OF PAROCHIAL CHURCH COUNCIL OF ST. MARY’S WHITKIRK
I report on the accounts of the company for the year ended 31 December 2023, which are set out on pages 7 to 16.
Respective responsibilities of trustees and examiner.
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of the 2011 Act
have not been met; or
- (1) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Craig Williamson
White Rose Accounting for Charities, The Ghyll, Threapland, Aspatria CA7 2EL
Dated: 28[th] March 2024
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St Mary's Church Whitkirk
Statement of Financial Activities For the period from 01 January 2023 to 31 December 2023
----- Start of picture text -----
Unrestricted Designated Restricted Endowment Total Prior year
funds funds funds funds funds total funds
Note
Incoming resources
Incoming resources from generated funds 2(a)
Voluntary income 115,204 10,235 5,031 — 130,471 211,061
Activities for generating funds 75,217 — — — 75,217 59,522
Investment income 2 4,731 86 — 4,818 782
Incoming resources from charitable activities 2(b) 16,438 — — — 16,438 13,908
Other incoming resources 2(c) 3,234 — 10 — 3,244 351
Total income 210,094 14,966 5,127 — 230,187 285,624
Resources used
Costs of generating funds 3(a) — — — — — 205
Costs of generating voluntary income 359 — 27 — 386 646
Fundraising trading: cost of goods sold and other 31,188 — 294 — 31,482 20,905
costs
Charitable activities 3(b) 171,128 6,973 4,509 — 182,610 155,252
Governance costs 3(c) 350 — — — 350 350
Other resources used 3(d) 360 — — — 360 242
Total expenditure 203,386 6,973 4,830 — 215,189 177,601
Net income / (expenditure) resources before 6,709 7,993 296 — 14,998 108,023
transfer
Transfers 3(e)
Gross transfers between funds - in — 3,513 555 — 4,068 1,639
Gross transfers between funds - out (4,068) — — — (4,068) (1,639)
Other recognised gains / losses 5(b)
Gains on revaluation, fixed assets, charity's own use — — — 27 27 (39)
Net movement in funds 2,640 11,506 852 27 15,025 107,984
Reconciliation of funds
Total funds brought forward 298,675 115,903 10,604 289 425,472 317,487
Total funds carried forward 301,315 127,409 11,456 316 440,497 425,472
----- End of picture text -----
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St Mary's Church Whitkirk
Balance sheet
As at: 31 December 2023
----- Start of picture text -----
As at 31/12/2023 As at 31/12/2022
£ £
Note
Fixed assets
Tangible assets 5(a) 285,419 275,000
Investments 5(b) 316 289
285,735 275,289
Current assets
Stocks and work in progress 1,946 3,375
Debtors 6 8,644 6,385
Cash at bank and in hand 147,744 146,426
158,334 156,252
Liabilities
Creditors: Amounts falling due in 7 3,574 6,004
one year
Net current assets less current 154,760 150,248
liabilities
Total assets less current liabilities 440,497 425,472
Total net assets less liabilities 440,497 425,472
----- End of picture text -----
There may be minor discrepancies in the totals if the pence are not being shown
Approved by the Parochial Church Council on 23[rd] April 2024 and signed on its behalf by:
Alistair Hezel (Chair)
Melvin Herring (Churchwarden)
The notes on Pages 9 to 16 form part of these accounts
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2023
1. ACCOUNTING POLICIES
The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the Charities Statement of Recommended Practice.
The financial statements have been prepared under the historical cost convention except for the valuation of land and buildings and investments shown at market value.
a) Funds
General Funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. These include funds designated for a particular purpose by the PCC.
The purpose of any restricted funds is noted in the accounts.
The accounts include transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body or those that are informal gatherings of church members.
b) Incoming resources
i ) Voluntary income and capital sources
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Collections are recognised when received.
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Planned giving under Gift Aid is recognised only when received.
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Income tax recoverable on Gift Aid donations is recognised when receivable.
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Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain.
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Sales of magazines are accounted for gross.
ii) Other income
- Rental income from the letting of PCC premises is accounted for when the rental is due.
iii) Income from investments
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Dividends are accounted for when due. Interest is accounted for on an accrued basis.
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Tax recoverable is recognised in the same accounting period.
iv) Gains and losses on investments
- Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at 31 December 2023.
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c) Resources used
i) Grants
Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC.
ii) Activities directly relating to the work of the Church
Parish share is a request from the Diocesan Board of Finance for each parish to contribute a specific amount each year to help meet the Diocesan budget. If a parish is unable to meet the full amount requested then it is treated as Historic Share to be contributed in a later accounting year. The PCC has passed a resolution to the effect that its current financial situation is such that it cannot realistically have any intention of paying its historic share and therefore it’s value is not being shown as a creditor within the accounts. See Note 3(a).
d) Fixed Assets
i) Consecrated land and buildings and movable church furnishings
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Consecrated and beneficed property is excluded from the accounts by s.96(2)(c) of the Charities Act 1993.
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No value is placed on movable church furnishings held by the churchwardens on special trust for the PCC, and which require a faculty for disposal, since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and movable church furnishings, whether maintenance or improvement, is written off as expenditure in the SOFA and separately disclosed.
ii ) Other land and buildings
- Other land and buildings held on behalf of the PCC for its own purposes are included at the valuation as of 31 December 2007. No depreciation however is provided on freehold properties as in the opinion of the PCC neither their current value nor anticipated future value is less than their current value. Any expenditure on maintenance or improvement is written off as incurred.
iii) Other equipment
- Equipment is depreciated on a straight line basis over 4 years. Individual items of equipment with a purchase price of £1,000 or less are written off in the period in which the asset is acquired.
e) Investments
- Investments are valued at market value at 31 December 2023.
Current Assets
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Amounts owing to the PCC at 31 December 2023 in respect of fees, rents, income tax recoverable or other income are shown as debtors less provision for amounts that may prove uncollectable.
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Short-term deposits include cash held on deposit either with the CBF Church of England Funds or at the bank
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Cash at Bank and in Hand includes cash and bank current accounts.
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St Mary's Church Whitkirk
Analysis of income and expenditure Selected period: 01 January 2023 to 31 December 2023
| Total | Total | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Designated | Restricted | Endowment | This year | Last year | |
| Incoming | ||||||
| resources | ||||||
| 2(a) Incoming resources from generated funds | ||||||
| Tax efficient planned giving | 73,142 | — | — | — | 73,142 | 62,514 |
| Other planned giving | 9,871 | — | — | — | 9,871 | 11,730 |
| Loose plate Collections | 8,233 | — | — | — | 8,233 | 12,372 |
| Giving through church boxes | 413 | — | — | — | 413 | 385 |
| One-off donations | 1,109 | 50 | 951 | — | 2,109 | 3,342 |
| Specific Appeals | 607 | — | 3,032 | — | 3,640 | 387 |
| Flower Fund Income | — | — | 478 | — | 478 | 151 |
| Tax recoverable on Gift Aid | 20,644 | — | 570 | — | 21,214 | 18,862 |
| Legacies | — | 10,185 | — | — | 10,185 | 100,000 |
| Grants | 1,186 | — | — | — | 1,186 | 1,384 |
| Church Events | 7,651 | — | — | — | 7,651 | 4,873 |
| Centre lettings | 22,417 | — | — | — | 22,417 | 24,666 |
| Bar Income | 45,149 | — | — | — | 45,149 | 29,983 |
| Bank & building soc interest | 2 | 4,731 | 86 | — | 4,818 | 782 |
| 190,423 | 14,966 | 5,117 | — | 210,506 | 271,430 | |
| Incoming resources from | ||||||
| generated funds Totals | ||||||
| 2(b) Incoming resources from charitable activities | ||||||
| Wedding Fees | 3,249 | — | — | — | 3,249 | 2,976 |
| Funeral Fees | 3,589 | — | — | — | 3,589 | 4,401 |
| Churchyard Fees | 8,282 | — | — | — | 8,282 | 6,378 |
| Bookstall sales | 192 | — | — | — | 192 | 102 |
| Parish magazine sales | 1,126 16,438 |
— — |
— — |
— — |
1,126 16,438 |
50 13,908 |
| Incoming resources from | ||||||
| charitable activities Totals | ||||||
| 2(c) Other incoming resources | ||||||
| Other Funds Generated | 2,790 | — | — | — | 2,790 | 351 |
| Insurance Claims | 444 | — | — | — | 444 | — |
| Other incoming resources | 3,234 | — | — | — | 3,234 | 351 |
| Totals Incoming resources Grand |
210,094 | 14,966 | 5,127 | — | 230,187 | 285,689 |
| totals |
2(a)
Legacies – Geoffrey Lidster (£3,500); Beatrice Greenwood residual (£6,685) Bank & Building Society Interest – CBF Deposit Fund (£4,816)
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Resources used
3(a) Costs of generating funds
| 3(a) Costs of generating funds | ||||||
|---|---|---|---|---|---|---|
| Fair Trade | — | — | — | — | 205 | 205 |
| Costs of stewardship | 359 | — | 27 | — | 386 | 610 |
| Cost of church events | 3,960 | — | 294 | — | 4,254 | 2,224 |
| Bar Stock | 23,226 | — | — | — | 23,226 | 15,962 |
| Bar expenses | 4,002 | — | — | — | 4,002 | 2,720 |
| Costs of generating funds | 31,547 | — | 321 | — | 31,869 | 21,757 |
| Totals | ||||||
| 3(b) Charitable activities | ||||||
| Charitable Donations | 781 | — | 2,358 | — | 3,139 | — |
| Parish share | 84,000 | — | — | — | 84,000 | 80,500 |
| Organists Salary | 5,396 | — | — | — | 5,396 | 4,933 |
| Employers NIC | (126) | — | — | — | (126) | 12 |
| Working expenses of incumbent | 1,218 | — | — | — | 1,218 | 1,353 |
| Miscellaneous expenditure | 1,588 | — | — | — | 1,588 | 110 |
| Insurance | 6,951 | — | — | — | 6,951 | 6,354 |
| Church Music & Choir | 98 | — | 754 | — | 852 | 609 |
| Church maintenance | 3,064 | — | — | — | 3,064 | 2,828 |
| Upkeep of services | 1,211 | 90 | 853 | — | 2,154 | 1,391 |
| Flower Fund | — | — | 435 | — | 435 | 668 |
| Upkeep of churchyard | 9,450 | — | — | — | 9,450 | 9,030 |
| Waste disposal | 3,812 | — | — | — | 3,812 | 3,348 |
| Administration | 3,963 | — | — | — | 3,963 | 3,226 |
| Performing Rights | 966 | — | — | — | 966 | 1,163 |
| Postage | 227 | — | — | — | 227 | 136 |
| Printing & Stationery | 6,388 | — | — | — | 6,388 | 3,289 |
| Health & Safety | 5,045 | — | — | — | 5,045 | 3,111 |
| Furniture Equipment | 1,238 | 2,285 | 109 | — | 3,632 | 495 |
| Church Gas & Electric | 6,743 | — | — | — | 6,743 | 4,791 |
| Centre Gas, Electricity & Water | 13,100 | — | — | — | 13,100 | 11,525 |
| Centre maintenance & cleaning | 16,286 | — | — | — | 16,286 | 15,261 |
| Depreciation Hall | — | — | — | — | — | 944 |
| Floodlight Maintenance Charitable activities Totals |
— 171,128 |
— 6,973 |
— 4,509 |
— — |
— 182,610 |
175 155,252 |
| 3(c) Governance | ||||||
| costs | ||||||
| Independent | 350 | — | — | — | 350 | 350 |
| Examination | ||||||
| Governance costs Totals | 350 | — | — | — | 350 | 350 |
| 3(d) Other resources | ||||||
| used | ||||||
| Hospitality Expenses | 360 | — | — | — | 360 | 242 |
| Other resources used Totals | 360 | — | — | — | 360 | 242 |
| Resources used Grand | 203,386 | 6,973 | 4,830 | — | 215,189 | 177,601 |
| totals |
There may be minor discrepancies in the totals if the pence are not being shown
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3(b)
Charitable donations: East Leeds Foodbank (£256); Toilet Twinning (£2,483); Art Forms Music (£200); Community of the Resurrection (£200)
3(e) Transfers All transfers were made to rectify fund mis-postings.
4(a) STAFF COSTS 2023 2022
Wages 5,396 4,933
4(b) PAYMENTS TO PCC MEMBERS
No members of the PCC, or persons closely connected to them, received any payments from the funds of the PCC.
5. FIXED ASSETS
5(a) Tangible
| Freehold | |||||
|---|---|---|---|---|---|
| Land & | Church | Hall | |||
| Buildings | Equipment | Equipment | Total | ||
| ACTUAL/DEEMED COST | |||||
| At 1 January 2023 | 275,000 | 11,763 | 10,946 | 297,709 | |
| Disposal | - | - | - | - | |
| Additions | - | 10,419 | 10,419 | ||
| Revaluation | - | - | - | - | |
| At 31 December 2023 | 275,000 | 11,763 | 20,915 | 307,678 | |
| DEPRECIATION | |||||
| At 1 January 2023 | - | 11,763 | 10,946 | 22,709 | |
| Charge for the year | - | - | - | - | |
| At 31 December 2023 | - | 11,763 | 10,946 | 22,709 | |
| Net book value at 31 December 2023 | 275,000 | - | 10,419 | 285,419 | |
| Net book value at 31 December 2022 | 275,000 | - | - | 275,000 | |
| 5(b) Investments | £ | ||||
| Market value at 1 January 2023 | 289 | ||||
| Disposals at carrying value | - | ||||
| Purchases at cost | - | ||||
| Revaluation gain/(loss) | 27 | ||||
| Market value at 31 December 2023 | 316 | ||||
| Holdings at 31 December 2023 | CBF Investment Fund | 14 | shares | ||
| 6. DEBTORS | 2023 | 2022 | |||
| £ | £ | ||||
| Gift Aid receivable | 1,966 | 1,917 | |||
| Prepayments | 4,196 | 3,956 | |||
| Centre Hire Fees | 1,055 | 512 | |||
| Bank interest | 1,427 | - | |||
| Total Debtors | 8,644 | 6,385 | |||
| 7. LIABILITIES | |||||
| Amounts falling due in one year | |||||
| Creditors for goods and services | 2,771 | 5,479 | |||
| Agency collections | 803 | 525 | |||
| Total liabilities | 3,574 | 6,004 |
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8. FUNDS
Unrestricted, Designated, Restricted and Endowment Funds are defined as follows;
Unrestricted Funds are funds given to the church on the general understanding that they will be used at the discretion of the PCC for furthering the mission and ministry of the church.
Designated Funds are funds set aside by the PCC for use in the future (for example, for future building repairs) and so not used for general running costs. The money is designated for particular projects. Designated funds are still unrestricted and can be moved to other funds (re-designated) if the PCC so decides.
Restricted Funds are monies restricted by the donor because they were given for a particular purpose. An Endowment Fund is another form of restricted fund. It is either money that has been given to the church with the specific instruction that only the interest gained from the money can be spent on an asset (such as a house) or donated to be retained for continuing use by the church. The original money cannot normally be spent and must remain in the form of assets or investments, but not necessarily the same asset that was given.
At 31 December 2023 the restricted funds comprised the following funds;
Lychgate Fund
Incoming resources are to be used for the maintenance of the Lychgate. If in any accounting period income is less than expenditure, the PCC shall decide upon the level of support required.
Music Fund
Incoming resources are to be used for the purchase of resources for the Choir. If in any accounting period income is less than expenditure, the PCC shall decide upon the level of support required.
Chancel Repair Fund
Funded by an endowment consisting of a quantity of shares in a 7.75% Treasury Bond 2012/15, the interest from which is paid into a Deposit account. The bond matured in 2012 and the shares redeemed, with funds being paid into the deposit account, the funds of which are to be applied to repairs within the Chancel. This fund was established in 1976 by Trinity College, Cambridge in mitigation of their responsibility as Lay Rectors of the Church. The Diocesan Board of Finance act as Custodian Trustees.
Churchyard Fund
Funded by an endowment consisting of a quantity of shares in the CBF Investment Fund, the dividends being paid into St Mary's current account. Established in 1959, the trust is to maintain the graves of Annie Christie and Henry Nelson and any surplus income used to keep the churchyard in good order. The Diocesan Board of Finance act as Custodian Trustees.
Camera Fund
An appeal for the provision of cameras and associated equipment to enable streaming of church services. Where in any accounting period income is less than expenditure, the PCC shall decide upon the level of support required.
Flower Fund
Incoming resources are used to purchase flowers for church and other church functions. Where in an accounting period income is less than expenditure, flowers will be purchased from the general funds.
Youth Fund
Incoming resources are to be used for events and resources for children and young people. In any accounting period income in excess of expenditure is carried forward to the next accounting period. Where in an accounting period income is less than expenditure, the PCC shall decide upon the level of support required.
Organ Fund
Incoming resources are to be used for maintenance, refurbishment or towards the replacement of the church's pipe organ. In an accounting period income in excess of expenditure is carried forward to the next accounting period. Where in an accounting period income is less than expenditure, the PCC shall decide upon the level of support required.
Robes Fund
Incoming resources are to be used for the repair or replacement of clerical vestments. In any accounting period income in excess of expenditure is carried forward to the next accounting period. Where in an accounting period income is less than expenditure, the PCC shall decide upon the level of support required.
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Occasional Restricted Fund
The PCC may from time to time receive gifts for short term specific purposes, the designation and timing of which will not warrant the creation of a separate fund for accounting purposes. These will be accounted for separately, and the incoming resources will be used for the purpose specified.
Floodlighting Fund
Incoming resources which are restricted to the "Floodlight Fund" are used for the repair and maintenance of the plant and equipment which make up the floodlighting system. In an accounting period income in excess of expenditure is carried forward to the next accounting period. If in any accounting period income is less than expenditure, the PCC shall decide upon the level of support required.
Purpose of designated funds:
The Fabric Fund is for the repair and maintenance of the Church. The Legacy Fund is for specific projects identified by the PCC
Fund movement by type Selected period: 01 January 2023 to 31 December 2023
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Fund and type Fund balances Incoming Outgoing Transfers Gains and Fund balances
brought forward Resources Resources Losses carried forward
Unrestricted
General 298,675 210,094 203,386 (4,068) — 301,315
Sub-totals 298,675 210,094 203,386 (4,068) — 301,315
Designated
Fabric 3 50 — — — 53
Legacy 115,901 14,916 6,973 3,513 — 127,357
Sub-totals 115,904 14,966 6,973 3,513 — 127,410
Restricted
Lychgate 377 — — — — 377
Music 765 331 526 — — 569
Chancel Repair 1,735 79 — — — 1,814
Churchyard 124 6 — 2 — 133
Camera 200 — 109 — — 91
Flower 20 542 435 — — 126
Youth 426 — 294 — — 131
Organ 3,618 10 228 553 — 3,953
Robes 228 625 853 — — —
Floodlighting 1,241 416 — — — 1,657
Occasional Restricted 1,872 3,118 2,385 — — 2,604
Funds
Sub-totals 10,604 5,127 4,830 555 — 11,456
Endowment
Churchyard 289 — — — 27 316
Sub-totals 289 — — — 27 316
Totals 425,472 230,187 215,189 — 27 440,497
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| 9. | |||||
|---|---|---|---|---|---|
| ANALYSIS OF NET |
Unrestricted Designated |
Unrestricted General |
Restricted | Endowment | TOTAL 2022 |
| FUNDS | |||||
| £ | £ | £ | £ | £ | |
| Tangible | |||||
| fixed | 10,419 | 275,000 | - | - | 285,419 |
| assets | |||||
| Investment Assets |
- | - | - | 316 | 316 |
| Current assets |
116,938 | 29,084 | 12,313 | - | 158,335 |
| Liabilities | - | (2,771) | (802) | - | (3,573) |
| 127,357 | 301,313 | 11,511 | 316 | 440,497 |
10. RISK ASSESSMENT
The PCC actively review the major risks which St Mary’s faces on a regular basis and believe, along with appropriate insurance cover, that maintaining the free reserves stated, combined with the review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The PCC have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
11. PUBLIC BENEFIT
The PCC acknowledges its requirement to demonstrate clearly that it must have charitable purposes or aims that are for the public benefit. Details of how the St Mary’s has achieved this are provided in the PCC’s Annual Report. The PCC confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding the activities to be undertaken by St Mary’s.
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