ANNUAL REPORT AND FINANCIAL STATEMENTS OF THE PAROCHIAL CHURCH COUNCIL
## OF THE ECCLESIASTICAL PARISH OF
GREAT MARLOW WITH MARLOW BOTTOM, LITTLE MARLOW AND BISHAM
for the year ended
31 December 2023
Charity Registration No: 1130498
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GREAT MARLOW, WITH MARLOW BOTTOM, LITTLE MARLOW AND BISHAM**
## **CONTENTS**
||**Page**|
|---|---|
|Members report|1 - 4|
|Independent examiner's report|5|
|Statement of financial activities|6 - 7|
|Balance sheet|8|
|Notes to the financial statements|9 - 26|
Parochial Church Council of the Ecclesiastical Parish of Great Marlow with Marlow Bottom, Little Marlow and Bisham
## **Our Vision**
## **Our Churches:**
## **Contact:**
The Causeway Marlow
The Lantern Marlow Bottom Road Marlow Bottom St John the Baptist Church Road Little Marlow
The Parish Office The Causeway, Marlow Buckinghamshire, SL7 1AA 01628 481806
parish.office@4u-team.org **Website:** www.4u-team.org
Bisham Church Lane Bisham
The Parochial Church Council of the Ecclesiastical Parish of Great Marlow with Marlow Bottom, Little Marlow and Bisham is a team of four churches in the Marlow area with a single vision. We serve some 20,000 people in a Parish that forms part of the Wycombe Deanery and Oxford Diocese.
The Parochial Church Council (PCC) is a corporate body (PCC Powers Measure 1956, Church Representation Rules 2011) established by the Church of England and is a charity registered with the Charity Commission under registration number 1130498.
The members of the PCC present their Annual Report with the financial statements of the PCC for the year ended 31 December 2023. The financial statements have been prepared 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 UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the _Charities Act_ 2011.
## **Accountant**
Azets Audit Services Suites B & D Burnham Yard Beaconsfield Buckinghamshire HP9 2JH
## **Bankers**
Barclays Bank plc HSBC Bank plc Lloyds Bank plc CBF (Church of England) Santander UK plc United Trust Bank
Page | 1
Parochial Church Council of the Ecclesiastical Parish of Great Marlow with Marlow Bottom, Little Marlow and Bisham
## ANNUAL REPORT FOR 2023
## **Membership**
The appointment of PCC members is governed by and set out in the Church Representation Rules 2011 and the Parish Constitution. Lay members of the PCC are, in some cases, ex officio. The other lay appointments were confirmed at the Annual Parish Church Meeting on 23[rd] May 2023. Those serving in the year were:
Clergy Deanery Synod Rev D Bull Team Rector Mrs P Banfield Mr R Bull Team Vicars Mrs K Burns th Sep) Mr S Featherstone-Clark Rev S Jones Elected Members Rev G Watts Miss E Cleugh Mr D Cronchey Curates Churchwardens Rev Mrs C Bradley-Sessions Diocesan Synod Mrs K Burns (from 18[th] Nov) Mr S Featherstone-Clark Mr N Lewis Mr P Rodger Mr J Smith
## **Constitution**
The PCC is a corporate body established by the Church of England. The PCC operates under the Parochial Church Councils (Powers) Measure 1956 and the Church Representation Rules and was registered with the Charity Commission on 9 July 2009. The Parish was created by an Order in Council dated 9 February 1993 and a Scheme approved by the Bishop of Dorchester on 31 May 2016 and embraces four District Church Councils - object of the PCC is to promote the Gospel of our Lord Jesus Christ according to the doctrines and practices of the Church of England. In so doing, the PCC co-operates with the clergy in promoting in the Parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical.
The PCC is responsible for making decisions on all matters of general concern and importance to the Parish including deciding how the funds of the PCC are to be spent. So far as possible, the PCC has delegated day-to-day running of each church to the local DCC. Each DCC remains responsible to the PCC and reports back to the PCC on a regular basis.
The activities of the PCC conform to the guidance of the Charity Commission to charities for the advancement of religion, showing identifiable benefit to the wider public, in that acts of worship are open to anyone who wishes to attend. Weddings, baptisms and funerals are services that particularly welcome all members of the community. The church buildings and grounds are also used frequently as venues for many community events.
Page | 2
Parochial Church Council of the Ecclesiastical Parish of Great Marlow with Marlow Bottom, Little Marlow and Bisham
## ANNUAL REPORT FOR 2023
## **Trustees PCC Members**
The appointment of PCC members is governed by and set out in the Church Representation Rules 2011, supplemented by the provisions of the Parish Constitution. The membership of the PCC currently consists of the team clergy and the licensed lay minister, with churchwardens, lay members of the Deanery and Diocesan Synods, and lay representatives of the Parish. Members of church congregations over the age of 16 and on the Electoral Roll may stand for election to their local DCC and as lay representatives to the PCC and are encouraged to do so. Training is available to those new to trusteeship to explain the responsibilities of trusteeship and PCC membership.
## **RESPONSIBILITIES OF THE MEMBERS OF THE PCC**
## **Accounting**
The members of the PCC are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to Charities in England and Wales requires the members to prepare financial statements for each financial year which give a true and fair view of the state of the PCC's affairs and of the incoming resources and application of resources of the PCC for that period. In preparing these financial statements the members are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the Charities SORP;
- Make judgements and estimates that are reasonable and prudent;
- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- presumption.
The members are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the PCC and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Church Accounting Regulations 2006.
The members are also responsible for safeguarding the assets of the PCC and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Reserves Policy**
The PCC has established a policy of maintaining reserves at a level which is felt sufficient to enable the current level of activities to be continued. Activity levels can be maintained for the foreseeable future.
## **Risk Management**
Each of the DCCs has assessed the financial and operational risks pertaining to their church. There are named representatives from each of the churches responsible for assessing and addressing risk issues. It has been agreed by the PCC that each church shall report on its financial condition twice a year whilst operational risk will be reported on once a year.
The PCC Representative for safeguarding children and vulnerable adults is Mrs D Dru with representatives for each church. The safeguarding policy for the Diocese of Oxford was adopted during the year 2023.
Page | 3
ANNUAL REPORT FOR 2023
## **Volunteers**
All four churches in the Parish rely extensively on volunteers to maintain the buildings and churchyards, to support the clergy in many ways and to minister, whether through prayer, scripture, music or sacrament. There are too many individuals and groups to acknowledge by name, but the PCC is most grateful to them all. It is impossible to attribute a monetary value to the contribution made by volunteers and so none is recognised in the Statement of Financial Activities.
## **Parish Activity During 2023**
Our top priority every year is to be Spirit-Led, which we understand to mean growing to be more dependent on God, more centred on Jesus and more sensitive to the leading of his Holy Spirit. Our churches have flourished this year in different ways. As a team we collaborate across all 4 churches where it makes sense to do so, including in the areas of safeguarding, co-ordination of weddings, funerals and baptisms, IT and communications infrastructure, administration and clergy team work.
It has been a stable year in the leadership of the parish, with all trustees remaining the same except , inspired by the hope of Jesus Christ and empowered by the Holy Spirit, continues to do extraordinary things through the ordinary lives of its members.
## **Financial Review**
Attached to this report are the financial statements for the Parish for the year ending 31[st] December 2023; these consolidate income, expenditure and assets and liabilities for all four churches.
Compared to 2022, total income increased this year by £93,020, whilst the overall expenditure has increased by £114,577. This in turn led to an overall net deficit movement in funds of £8,219 after movement on investments, this is compared to a total deficit in 2022 of £17,685.
There remain liquid unrestricted funds to finance activities for the foreseeable future. Given the relatively fixed nature of the cost base, new ways to grow revenue are being explored. It is therefore considered prudent to continue to conserve funds as far as possible.
The members report was approved by the Board of Members:
D Bull **Team Rector**
Page | 4
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GREAT MARLOW, WITH MARLOW BOTTOM, LITTLE MARLOW AND BISHAM**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GREAT MARLOW, WITH MARLOW BOTTOM, LITTLE MARLOW AND BISHAM**
I report to the members on my examination of the financial statements of The Parochial Church Council of the Ecclesiastical Parish of Great Marlow, with Marlow Bottom, Little Marlow and Bisham (the PCC) for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the members of the PCC you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the PCC’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the PCC’s gross income exceeded £250,000, your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the PCC as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Mr C J Nisbet FCA
Azets Audit Services Suites B&D Burnham Yard Beaconsfield Bucks HP9 2JH
20/09/2024 Dated: .........................
- 5 -
##
|**Total**||**2022**|**£**||456,098|84,661|10,669|3,988|555,416|||5,864|549,076|554,940||(18,161)||(17,685)|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|**Restricted Endowment**|**funds**
**funds**|**2022**
**2022**|**£**
**£**||38,257
-|-
-|3,757
-|157
-|42,171
-|||5,485
-|34,995
-|40,480
-||(6,753)
(8,143)||(5,062)
(8,143)|
|**Designated**|**funds**|**2022**|**£**||8,049|-|-|59|8,108|||-|24,653|24,653||-||(16,545)|
|**Total Unrestricted**|**funds**|**2023**
**2022**|**£**
**£**||551,147
409,792|76,310
84,661|13,682
6,912|7,297
3,772|648,436
505,137|||4,747
379|664,770
489,428|669,517
489,807||12,862
(3,265)||(8,219)
12,065|
|**Restricted Endowment**|**funds**
**funds**|**2023**
**2023**|**£**
**£**||108,404
-|815
-|4,797
-|601
-|114,617
-|||4,106
-|77,081
-|81,187
-||8,365
2,518||41,795
2,518|
|**Designated**|**funds**|**2023**|**£**||8,547|-|-|193|8,740|||-|39,643|39,643||-||(30,903)|
|**Unrestricted**|**funds**|**2023**|**£**||434,196|75,495|8,885|6,503|525,079|||641|548,046|548,687||1,979||(21,629)|
||||**Notes**|**Income from:**|Voluntary income
**2**|Church activities
**3**|Fundraising events
**4**|Investment income
**5**|**Total income**|**Expenditure on:**||Raising funds
**6**|Charitable activities
**7**|**Total expenditure**|Net gains/(losses) on|investments
**11**|**Net (outgoing)/incoming**|**resources before transfers**|
|**Total**||**2022**|**£**||(17,685)||-|(17,685)|497,369|479,684|
|---|---|---|---|---|---|---|---|---|---|---|
|**Restricted Endowment**|**funds**
**funds**|**2022**
**2022**|**£**
**£**||(5,062)
(8,143)||9,709
-|4,647
(8,143)|107,076
34,689|111,723
26,546|
|**Designated**|**funds**|**2022**|**£**||(16,545)||-|(16,545)|146,966|130,421|
|**Total Unrestricted**|**funds**|**2023**
**2022**|**£**
**£**||(8,219)
12,065||-
(9,709)|(8,219)
2,356|479,684
208,638|471,465
210,994|
|**Restricted Endowment**|**funds**
**funds**|**2023**
**2023**|**£**
**£**||41,795
2,518||-
-|41,795
2,518|111,723
26,546|153,518
29,064|
|**Designated**|**funds**|**2023**|**£**||(30,903)||5,000|(25,903)|130,421|104,518|
|**Unrestricted**|**funds**|**2023**|**£**||(21,629)||(5,000)|(26,629)|210,994|184,365|
||||**Notes**|**Net (outgoing)/incoming**|**resources before transfers**|Gross transfers between|funds|**Net movement in funds**|Fund balances at 1 January|**Fund balances at 31 December**|
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GREAT MARLOW, WITH MARLOW BOTTOM, LITTLE MARLOW AND BISHAM**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2023**_
|**Notes**
**Fixed assets**
Tangible assets
**13**
Investments
**14**
**Current assets**
Debtors
**15**
Investments
**16**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**17**
Net current assets
**Total assets less current liabilities**
**Funds**
Endowment funds
**19**
Restricted funds
**20**
Designated funds
**21**
Unrestricted funds|**2023**
**£**
29,010
112,807
178,836
320,653
(27,153)|**£**
266
177,699
177,965
293,500
471,465
29,064
153,518
104,518
184,365
471,465|**2022**
**£**
26,743
87,270
216,685
330,698
(28,917)|**£**
266
177,637|
|---|---|---|---|---|
|||||177,903
301,781|
|||||479,684|
|||||26,546
111,723
130,421
210,994|
|||||479,684|
The financial statements were approved by the Members on .........................16 September 2024
.............................. Rev'd D Bull **Team Rector**
- 8 -
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GREAT MARLOW, WITH MARLOW BOTTOM, LITTLE MARLOW AND BISHAM**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **1 Accounting policies**
## **Charity information**
The Parochial Church Council of the Ecclesiastical Parish of Great Marlow, with Marlow Bottom, Little Marlow and Bisham is a body corporate body (PCC Powers Measure 1956, Church Representation Rules 2011) established by the Church of England.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements include all 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 nor those that are informal gatherings of Church members.
The financial statements are prepared in sterling, which is the functional currency of the PCC. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of fixed asset investments and to include fixed asset investments at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the members have a reasonable expectation that the PCC has adequate resources to continue in operational existence for the foreseeable future. Thus the members continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable 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.
Funds designated for a particular purpose by the PCC are also unrestricted.
Restricted funds represent donations and grants and the income thereon received for a specific objective or invited by the PCC or any DCC for a specific objective. The funds may only be expended on the specific objective for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund.
Endowment funds are funds the capital of which must be maintained. Only income arising from the investment of the endowment may be used either as restricted or unrestricted funds depending on the purpose for which the endowment was established.
## **1.4 Income**
Income is recognised when the PCC is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
- 9 -
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GREAT MARLOW, WITH MARLOW BOTTOM, LITTLE MARLOW AND BISHAM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **1 Accounting policies**
**(Continued)**
## **Voluntary income**
- Collections are recognised when received by or on behalf of the PCC.
- Planned giving receivable under covenant is recognised only when received.
- Income tax recoverable on covenants or gift aid donations is recognised when the income is recognised.
- Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement and the amount due.
- Funds raised by fetes and similar events are accounted for gross.
- Sales of books and magazines from the Church bookstalls are accounted for gross.
## **Income from investments**
- Dividends and interest are accounted for when receivable.
- Tax recoverable on such income is recognised in the same accounting year.
## **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 the balamce sheet date.
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
## **Grants**
Grants and donations are accounted for when paid, or when awarded, if that award creates a binding obligation on the PCC.
## **Activities directly relating to the work of the church**
The Diocesan quota is accounted for when payable. Any quota unpaid at the balance sheet date which the PCC intends to pay is accrued as a contstructive (though not a legal) obligation and included within creditors at the balmace sheet date.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings and equipment 20% straight line Computers 20% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
- 10 -
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GREAT MARLOW, WITH MARLOW BOTTOM, LITTLE MARLOW AND BISHAM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
- **1 Accounting policies**
**(Continued)**
## **Consecrated land and buildings and movable church furnishings**
Consecrated and beneficed property is excluded from the accounts by s.10(2)(a) of the Charities Act 2011.
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 benefice buildings and movable church furnishings, whether maintenance or improvement, is written off as expenditure in the statement of financial activities and separately disclosed.
- **1.7 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
## **1.8 Impairment of fixed assets**
At each reporting end date, the PCC reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.9 Cash and cash equivalents**
Cash and cash equivalents includes cash at bank and in hand.
## **1.10 Financial instruments**
The PCC has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the PCC's balance sheet when the PCC becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors, are recognised at transaction price.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.11 Employee benefits**
Short term employee benefits are recognised as incurred.
## **1.12 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
- 11 -
||Total||2022|£|146,234|4,903|202,425||72,519|30,017|456,098|
|---|---|---|---|---|---|---|---|---|---|---|---|
||Restricted|funds|2022|£|29,966|1,370|2,474||4,421|26|38,257|
||Designated|funds|2022|£|5,200|2,799|-||50|-|8,049|
||Unrestricted|funds|2022|£|111,068|734|199,951||68,048|29,991|409,792|
||**Total**||**2023**|**£**|180,736|3,218|241,360||83,896|41,937|551,147|
||**Restricted**|**funds**|**2023**|**£**|89,004|1,980|12,813||4,391|216|108,404|
||**Designated**|**funds**|**2023**|**£**|5,000|1,047|2,200||300|-|8,547|
||**Unrestricted**|**funds**|**2023**|**£**|86,732|191|226,347||79,205|41,721|434,196|
|**Voluntary income**|||||Donations and gifts|Grants|Planned giving||Gift aid tax recoverable|Collections||
|**2**||||||||||||
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GREAT MARLOW, WITH MARLOW BOTTOM, LITTLE MARLOW AND BISHAM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **3 Church activities**
|**Church**
**activities**
**Church**
**activities**
**2023**
**2022**
**£**
**£**
Fees
50,351
58,879
Church and hall letting etc.
23,292
25,454
Other income
2,667
328
76,310
84,661
Analysis by fund
Unrestricted funds
75,495
84,661
Restricted funds
815
-
76,310
84,661|**Church**
**activities**
**Church**
**activities**
**2023**
**2022**
**£**
**£**
Fees
50,351
58,879
Church and hall letting etc.
23,292
25,454
Other income
2,667
328
76,310
84,661
Analysis by fund
Unrestricted funds
75,495
84,661
Restricted funds
815
-
76,310
84,661|**Church**
**activities**
**Church**
**activities**
**2023**
**2022**
**£**
**£**
Fees
50,351
58,879
Church and hall letting etc.
23,292
25,454
Other income
2,667
328
76,310
84,661
Analysis by fund
Unrestricted funds
75,495
84,661
Restricted funds
815
-
76,310
84,661|
|---|---|---|
||**2023**
**£**
50,351
23,292
2,667
76,310
75,495
815
76,310|**2022**
**£**
58,879
25,454
328|
|||84,661|
|||84,661
-|
|||84,661|
- **4 Fundraising events**
||**Unrestricted**|**Restricted**|**Total **|**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|---|---|---|
||**funds**|**funds**||**funds**|**funds**||
||**2023**|**2023**|**2023**|**2022**|**2022**|**2022**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|Fundraising events|8,885|4,797|13,682|6,912|3,757|10,669|
- 13 -
||Total||2022|£|3,127|861|3,988|||**Total**||**2022**|**£**|||5,864|5,864|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||Restricted|funds|2022|£|-|157|157|||**Restricted**|**funds**|**2022**|**£**|||5,485|5,485|
||Designated|funds|2022|£|-|59|59|||**Unrestricted**|**funds**|**2022**|**£**|||379|379|
||Unrestricted|funds|2022|£|3,127|645|3,772|||**Total**||**2023**|**£**|||4,747|4,747|
||**Designated**
**Restricted**
**Total**|**funds**
**funds**|**2023**
**2023**
**2023**|**£**
**£**
**£**|-
-
3,128|193
601
4,169|193
601
7,297|||**Unrestricted**
**Restricted**|**funds**
**funds**|**2023**
**2023**|**£**
**£**|||641
4,106|641
4,106|
||**Unrestricted**|**funds**|**2023**|**£**|3,128|3,375|6,503|||||||||||
|**Investment income**|||||Dividends receivable|Interest receivable|||**Raising funds**|||||Fundraising and publicity||Staging fundraising events||
|**5**|||||||||**6**|||||||||
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GREAT MARLOW, WITH MARLOW BOTTOM, LITTLE MARLOW AND BISHAM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
|**7**
**Charitable activities**
**Church**
**activities**
**Church**
**activities**
**2023**
**2022**
**£**
**£**
Staff costs
154,956
106,536
Missionary and charitable giving - overseas
4,998
15,125
Missionary and charitable giving - societies and other charities
66,692
16,905
Ministry - Diocesan quota
196,102
218,492
Ministry - Clergy costs
1,956
3,471
Choir, organists, and related costs
27,516
13,093
Church running expenses
36,579
40,015
Chruch maintenance - heating and lighting
38,648
23,788
Church maintenance - repairs and maintenance
36,195
14,135
Church maintenance - insurances
12,471
10,738
Church hall running costs
13,031
21,850
Wedding and funeral costs
23,447
29,107
Parish office costs
32,321
21,177
Recruitment costs
1,650
7,209
Other costs
13,099
2,035
659,661
543,676
Share of governance costs (see note 8)
5,109
5,400
664,770
549,076
**Analysis by fund**
Unrestricted funds
548,046
489,428
Designated funds
39,643
24,653
Restricted funds
77,081
34,995
664,770
549,076|**7**
**Charitable activities**
**Church**
**activities**
**Church**
**activities**
**2023**
**2022**
**£**
**£**
Staff costs
154,956
106,536
Missionary and charitable giving - overseas
4,998
15,125
Missionary and charitable giving - societies and other charities
66,692
16,905
Ministry - Diocesan quota
196,102
218,492
Ministry - Clergy costs
1,956
3,471
Choir, organists, and related costs
27,516
13,093
Church running expenses
36,579
40,015
Chruch maintenance - heating and lighting
38,648
23,788
Church maintenance - repairs and maintenance
36,195
14,135
Church maintenance - insurances
12,471
10,738
Church hall running costs
13,031
21,850
Wedding and funeral costs
23,447
29,107
Parish office costs
32,321
21,177
Recruitment costs
1,650
7,209
Other costs
13,099
2,035
659,661
543,676
Share of governance costs (see note 8)
5,109
5,400
664,770
549,076
**Analysis by fund**
Unrestricted funds
548,046
489,428
Designated funds
39,643
24,653
Restricted funds
77,081
34,995
664,770
549,076|**7**
**Charitable activities**
**Church**
**activities**
**Church**
**activities**
**2023**
**2022**
**£**
**£**
Staff costs
154,956
106,536
Missionary and charitable giving - overseas
4,998
15,125
Missionary and charitable giving - societies and other charities
66,692
16,905
Ministry - Diocesan quota
196,102
218,492
Ministry - Clergy costs
1,956
3,471
Choir, organists, and related costs
27,516
13,093
Church running expenses
36,579
40,015
Chruch maintenance - heating and lighting
38,648
23,788
Church maintenance - repairs and maintenance
36,195
14,135
Church maintenance - insurances
12,471
10,738
Church hall running costs
13,031
21,850
Wedding and funeral costs
23,447
29,107
Parish office costs
32,321
21,177
Recruitment costs
1,650
7,209
Other costs
13,099
2,035
659,661
543,676
Share of governance costs (see note 8)
5,109
5,400
664,770
549,076
**Analysis by fund**
Unrestricted funds
548,046
489,428
Designated funds
39,643
24,653
Restricted funds
77,081
34,995
664,770
549,076|
|---|---|---|
||**2023**
**£**
154,956
4,998
66,692
196,102
1,956
27,516
36,579
38,648
36,195
12,471
13,031
23,447
32,321
1,650
13,099
659,661
5,109
664,770
548,046
39,643
77,081
664,770|**2022**
**£**
106,536
15,125
16,905
218,492
3,471
13,093
40,015
23,788
14,135
10,738
21,850
29,107
21,177
7,209
2,035|
|||543,676
5,400|
|||549,076|
|||489,428
24,653
34,995|
|||549,076|
- 15 -
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GREAT MARLOW, WITH MARLOW BOTTOM, LITTLE MARLOW AND BISHAM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **8 Support costs**
|**Support costs**||||
|---|---|---|---|
|Independent examination and accountancy fees
Analysed between
Charitable activities|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
-
5,109
-
5,109
-
5,109|**2023**
**£**
5,109
5,109
5,109|**2022**
**£**
5,400|
||||5,400|
||||5,400|
## **9 Members**
None of the members (or any persons connected with them) received any remuneration or benefits from the PCC during the year.
During the year the members were reimbursed expenses of £11,340 (2022: £11,435 ).
## **10 Employees**
The average full time equivalent number of employees during the year was:
|**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2023**
**Number**
8
**2023**
**£**
148,687
2,772
3,497
154,956|**2022**
**Number**
4|
|---|---|---|
|||**2022**
**£**
104,461
624
1,451|
|||106,536|
There were no employees whose annual remuneration was more than £60,000.
- 16 -
|||Total||2022|£|(17,695)|(466)|(18,161)|
|---|---|---|---|---|---|---|---|---|
|||Endowment|funds|2022|£|(8,143)|-|(8,143)|
|||Restricted|funds|2022|£|(6,753)|-|(6,753)|
|||Unrestricted|funds|2022|£|(2,799)|(466)|(3,265)|
|||**Total**||**2023**|**£**|4,193|8,669|12,862|
|||**Restricted Endowment**|**funds**
**funds**|**2023**
**2023**|**£**
**£**|7,996
2,518|369
-|8,365
2,518|
|||**Unrestricted**|**funds**|**2023**|**£**|(6,321)|8,300|1,979|
|**Net gains/(losses) on investments**||||||Revaluation of investments|Gain/(loss) on sale of investments||
|**11**|||||||||
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GREAT MARLOW, WITH MARLOW BOTTOM, LITTLE MARLOW AND BISHAM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **12 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
## **13 Tangible fixed assets**
|**Fixtures,**
**fittings and**
**equipment**
**Computers**
**£**
**£**
**Cost**
At 1 January 2023
7,878
2,878
At 31 December 2023
7,878
2,878
**Depreciation and impairment**
At 1 January 2023
7,612
2,878
At 31 December 2023
7,612
2,878
**Carrying amount**
At 31 December 2023
266
-
At 31 December 2022
266
-|**Total**
**£**
10,756|
|---|---|
||10,756|
||10,490|
||10,490|
||266|
||266|
## **14 Fixed asset investments**
|**Listed**
**investments**
**Cash in**
**portfolio**
**£**
**Cost or valuation**
At 1 January 2023
175,096
2,541
Valuation changes
8,280
-
Cash movements
-
81
Disposals
(8,300)
-
At 31 December 2023
175,076
2,622
**Carrying amount**
At 31 December 2023
175,076
2,622
At 31 December 2022
175,096
2,541|**Total**
**£**
177,637
8,280
81
(8,300)|
|---|---|
||177,698|
||177,698|
||177,637|
- 18 -
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GREAT MARLOW, WITH MARLOW BOTTOM, LITTLE MARLOW AND BISHAM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
|**15**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
**16**
**Current asset investments**
Cash deposits
**17**
**Creditors: amounts falling due within one year**
Other creditors
Accruals and deferred income|**2023**
**£**
21,436
7,574
29,010
**2023**
**£**
112,807
**2023**
**£**
2,372
24,781
27,153|**2022**
**£**
23,970
2,773|
|---|---|---|
|||26,743|
|||**2022**
**£**
87,270|
|||**2022**
**£**
4,424
24,493|
|||28,917|
## **18 Retirement benefit schemes**
## **Defined contribution schemes**
The PCC operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the PCC in an independently administered fund.
The charge to profit or loss in respect of defined contribution schemes was £3,497 (2022: £1,451).
- 19 -
|**Endowment funds**|Endowment funds represent assets which must be held permanently by the PCC. Income arising on the endowment funds can be used in accordance with the objects of|the PCC and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.|**Movement in funds**
**Movement in funds**|**Balance at**
**Incoming**
**Resources**
**Transfers**
**Revaluations**
**Balance at**
**Incoming**
**Resources**
**Transfers**
**Revaluations**
**Balance at**|**1 January 2022**
**resources**
**expended**
**gains and**
**1 January 2023**
**resources**
**expended**
**gains and**
**31 December**|**losses**
**losses**
**2023**|**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**|Yates bequest
31,276
-
-
-
(4,730)
26,546
2,518
-
-
-
29,064|Curate fund
3,413
-
-
-
(3,413)
-
-
-
-
-
-|34,689
-
-
-
(8,143)
26,546
2,518
-
-
-
29,064|
|---|---|---|---|---|---|---|---|---|---|---|
|**19**|||||||||||
|**Restricted funds**|The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:|**Movement in funds**
**Movement in funds**|**Balance at**
**Incoming**
**Resources**
**Transfers Revaluations,**
**Balance at**
**Incoming**
**Resources**
**Transfers Revaluations,**
**Balance at**|**1 January 2022**
**resources**
**expended**
**gains and**
**1 January 2023**
**resources**
**expended**
**gains and**
**31 December**|**losses**
**losses**
**2023**|**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**|**All Saints Marlow**|Plate fund
453
-
-
-
-
453
-
-
-
-
453|Crypt
205
-
-
-
-
205
-
(205)
-
-
-|Choir Tours fund
1,782
-
-
-
-
1,782
-
-
-
-
1,782|Choir Music fund
1,456
-
(1,283)
-
-
173
-
-
-
-
173|Furniture fund
10,890
4,683
(25,282)
9,709
-
-
27,226
(14,783)
-
-
12,443|Meals from|Marlow
-
-
-
-
-
-
50,967
(37,295)
-
-
13,672|**Total**
14,786
4,683
(26,565)
9,709
-
2,613
78,193
(52,283)
-
-
28,523|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|**20**||||||||||||||||
|**(Continued)**||||285||420||12,485||-|||-|-||-|-|13,190|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||-||-||-||-|||-|-||-|-|-|
|||||-||-||-||-|||-|-||-|-|-|
|||||-||-||(1,672)||-|||(378)|(30)||(2,745)|(25)|(4,850)|
|||||-||-||14,107||-|||378|30||2,745|25|17,285|
|||||285||420||50||-|||-|-||-|-|755|
|||||-||-||-||-|||-|-||-|-|-|
|||||-||-||-||-|||-|-||-|-|-|
|||||-||-||-||(1,445)|||-|-||-|-|(1,445)|
|||||-||-||50||1,445|||-|-||-|-|1,495|
|||||285||420||-||-|||-|-||-|-|705|
|**Restricted funds**|**St Mary the**|**Virgin Marlow**|**Bottom**|Creche fund|S&S Sabbatical|fund|Children and|Families Worker|Other Funds|(See below)|Appeal and|Chairty|Collections|Energy Grant|New Building|Fund|Christmas Tree|**Total**|
|**20**|||||||||||||||||||
|**Restricted funds**
**(Continued)**|**St John the**|**Baptist Little**|**Marlow**|Fabric Fund
80,454
634
(3,300)
-
(6,753)
71,035
8,965
(4,480)
-
-
75,520|**Total**
80,454
634
(3,300)
-
(6,753)
71,035
8,965
(4,480)
-
-
75,520|**All Saints**|**All Saints**|**Bisham**|Fabric Fund
976
597
-
-
-
1,573
485
(100)
-
-
1,958|Friends
8,155
7,818
(9,165)
-
-
6,808
10,852
(5,129)
-
-
12,531|Organ Fund
2,000
26,943
(5)
-
-
28,938
8,691
(15,834)
-
-
21,795|**Total**
11,131
35,359
(9,170)
-
-
37,320
20,028
(21,063)
-
-
36,285|107,076
42,171
(40,480)
9,709
(6,753)
111,723
124,471
(82,676)
-
-
153,518||St Mary the Virgin, Marlow Bottom, Other Funds comprises £400 received into a Redecorating fund, £225 received into Appeal and Charity Collections fund, and £820|received into Energy Grant fund, all of which were fully expensed in the year.|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|**20**|||||||||||||||||
|**Designated funds**|The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:|**Movement in funds**
**Movement in funds**|**Balance at**
**Incoming**
**Resources**
**Transfers Revaluations,**
**Balance at**
**Incoming**
**Resources**
**Transfers Revaluations,**
**Balance at**|**1 January 2022**
**resources**
**expended**
**gains and**
**1 January 2023**
**resources**
**expended**
**gains and**
**31 December**|**losses**
**losses**
**2023**|**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**|**All Saints Marlow**|5 Year Vision
88,325
-
(22,000)
-
-
66,325
-
(22,000)
-
-
44,325|Fabric fund
19,754
-
-
-
-
19,754
-
(8,185)
-
-
11,569|**Total**
108,079
-
(22,000)
-
-
86,079
-
(30,185)
-
-
55,894|**St Mary the**|**Virgin - Marlow**|**Bottom**|Children and|Families Worker|Fund
-
4,000
-
-
-
4,000
2,500
-
-
-
6,500|**Total**
-
4,000
-
-
-
4,000
2,500
-
-
-
6,500|**St John the**|**Baptist - Little**|**Marlow**|Development|Fund
4,313
3,559
(966)
-
-
6,906
-
(32)
-
4,000
10,874|Music Fund
4,786
549
(1,687)
-
-
3,648
-
(2,263)
-
1,000
2,385|Other Fund
124
-
-
-
-
124
-
-
-
-
124|**Total**
9,223
4,108
(2,653)
-
-
10,678
-
(2,295)
-
5,000
13,383|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|**21**||||||||||||||||||||||||||
|**(Continued)**||||28,741|28,741|104,518|||**Total**||**2022**|**£**||||266|177,637|301,781|479,684|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||-|-|5,000|||**Endowment**|**funds**|**2022**|**£**||||-|26,546|-|26,546|
|||||-|-|-|||**Restricted**|**funds**|**2022**|**£**||||-|-|111,723|111,723|
|||||(923)|(923)|(33,403)|||**Designated**|**funds**|**2022**|**£**||||-|-|130,421|130,421|
|||||29,664
-|29,664
-|130,421
2,500|||**Total Unrestricted**|**funds**|**2023**
**2022**|**£**
**£**||||266
266|177,699
151,091|293,500
59,637|471,465
210,994|
|||||-|-|-||||||||||||||
|||||-|-|-|||**Endowment**|**funds**|**2023**|**£**||||-|29,064|-|29,064|
|**Designated funds**|**All Saints**||**Bisham**|Capital Fund
29,664
-
-|**Total**
29,664
-
-|146,966
8,108
(24,653)||**Analysis of net assets between funds**|**Unrestricted**
**Designated**
**Restricted**|**funds**
**funds**
**funds**|**2023**
**2023**
**2023**|**£**
**£**
**£**|Fund balances at 31|December 2023 are|represented by:|Tangible assets
266
-
-|Investments
77,424
-
71,211|Current assets/(liabilities)
106,675
104,518
82,307|184,365
104,518
153,518|
|**21**||||||||**22**||||||||||||
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GREAT MARLOW, WITH MARLOW BOTTOM, LITTLE MARLOW AND BISHAM**
**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **23 Related party transactions**
There were no disclosable related party transactions during the year (2022: none).
- 26 -