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2022-12-31-accounts

2022 REPORT AND ACCOUNTS

FOR

THE PAROCHIAL CHURCH COUNCIL

OF

ST. JAMES THE GREAT

THORLEY

REGISTERED CHARITY NO. 1130506

Thorley Parochial Church Council Annual Report and Accounts for the year ended 31st December 2022

Registered Charity No: 1130506
Parochial Church Council (“PCC”) Gaz Tracey(Rector)
Members (Trustees): Claire Finlay(Curate)
Sue Carr(Churchwarden)
Emma White(Churchwarden)
Chris Carr(Reader)
Katharine Roper(Reader) (Deanery until 2023)
Kirsty Pettinger(Treasurer) (PCC co-opted)
Mary Bramley(PCC until 2024)
Robbie Ward-Booth(PCC until 2024)
Alison Somers(PCC until 2025)
Gill Blair-Park(PCC until 2023)
Debbie Hoy(PCC until 2023)
Philippa Roy-Chowdhury(PCC until 2023)
Clive Hayball(Deanery until 2023)
Sylvia Barrows(Deanery until 2023)
Chris Collins(PCC until 2025)
Daniel Daniells-Smith(PCC until 2025)
Annice Osborne(PCC until 2024)
PCC Secretary Des Conridge
Principal Office: Church Office
The St Barnabas Centre
Church Lane
Thorley
Bishop's Stortford
CM23 4BE
Bankers: Barclays Bank Plc.
10 North Street
Bishop's Stortford
CM23 2LH
Independent Examiners: Helena Wilkinson
Price Bailey LLP
Causeway House
1 Dane Street
Bishop's Stortford
CM23 3BT
Insurers: EIO (Ecclesiastical Insurance Office) Plc

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Thorley Parochial Church Council Annual Report and Accounts for the year ended 31st December 2022

Aims and Purposes of the PCC

Thorley Parochial Church Council (PCC) works with the incumbent in promoting the ecclesiastical parish in association with the mission of the Church as laid down in the church’s Mission Action Plan, which embraces pastoral, evangelistic, social and ecumenical initiatives. The PCC is responsible for the maintenance and use of the buildings with which we are blessed.

The PCC continued to work towards the fulfilment of our Mission Action Plan (MAP). We continue to organise and evaluate our mission and ministry against the following Vision, Mission and Values:

Vision Statement: “To see lives that are changed by the transforming power of God’s Spirit as people come to know, experience, love and follow Jesus.”

Mission Statement: “Making Jesus known, in our communities and networks, to the disadvantaged and in the wider world, through words and by action.”

Our Values :

To organise our mission and ministry across the whole church, we use three words ;

Gather, Grow, Go .

They serve to underline some of the things that we see as important in living Christian lives of community, mission and ministry together. They also provide a strategic framework around which we develop our Mission Action Plan (MAP). This is a way in which we can see in each area of mission and ministry within St James, key areas of growth, development and planning in and for all that we do.

This will be a foundational building block to allow for the strategic development and growth of St James over the coming years. We need a strategy that we can gather around and our leaders can jealously guard, and a framework that will continue to release ministry and mission in desired areas and ways.

Overview, Objectives and Activities

The PCC is committed to reaching as many people as possible through worship at St. James and via its outreach opportunities throughout the year.

As we saw the restrictions begin to relax in 2022, we still had a year that was impacted by the ongoing COVID-19 pandemic. The year began amongst the panic of the freshly identified strain of the virus. This impacted the donations we received for the use of our buildings, our attendance numbers and the number of people who sought

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Thorley Parochial Church Council Annual Report and Accounts for the year ended 31st December 2022

our help for the occasions of baptisms, weddings and funerals in the first two quarters of this year. We saw these numbers return in the second half of the year both in terms of requests for ministry and attendance at our services.

In July 2022 we welcomed a new curate, Claire Finlay, who will serve her title post with us for a maximum of 3 years and 3 months.

We continued to work hard to maintain and develop the buildings that have been entrusted to our care. With the help of finance from a significant donation, as well as support from the Friends of St James, we replaced the boiler in the church building. We also saw the first phase of the planned AV system upgrade for the St Barnabas Centre completed in July 2022. The subsequent phases are planned for installation within 2023.

Buildings

The PCC has responsibility for five buildings:

The Church Centre Complex, Church Lane, Thorley

The Thorley Christian Centre (TCC), Vicerons Place, Thorley

In addition, the PCC has joint responsibility with the Diocese of St Albans for a further 2 buildings:

Ensuring our work delivers our aims

We review our aims, objectives and outcomes each year. This review looks at the success of each key activity and the benefits they have brought to those groups of people we help and support. The review also enables us to ensure our aims, objectives and activities remain focused on our stated purposes. We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the PCC considers how planned activities will contribute to aims and objectives they have set.

Structure, governance and management

At the Annual Meeting of Parishioners (AMP), held in May 2022, all those living in the parish or who are on the Electoral Roll of St James the Great, are entitled to elect two Churchwardens who are elected annually and can hold office for six successive years, following which they must step down for a period of 2 years in accordance with the Churchwardens Measure (2001, No. 1) and agreed by resolution of the AMP in 2020. As a consequence of this meeting two Churchwardens were appointed. In line with the permissions afforded to us under the Church Representation Rules, we voted to allow an existing Churchwarden to stand for a maximum of 12 months in addition to the usual maximum 6 year term.

The PCC of St James the Great is a registered charity and all members, including ex-officio and co-opted members are Trustees named on the Charity Commission register.

The structure and governance of the PCC is laid out in the Church Representation Rules (2022) and is made up of several categories of members as follows:

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Thorley Parochial Church Council Annual Report and Accounts for the year ended 31st December 2022

Other members of the congregation may be co-opted as required, but not exceeding in number one fifth of the elected lay members, or two persons whichever shall be the greater.

The Annual Parochial Church Meeting (APCM) elects the lay and deanery representatives. Voting at the APCM is restricted to members on the Electoral Roll only. Elected lay representatives serve for a three-year term with onethird standing down each year and one third being elected or re-elected. Members must stand down after two consecutive 3-year terms and cannot be re-elected for at least one year. Deanery Synod representatives are elected every three years and remain in office for the whole term, but should any representative relinquish their position, a replacement will be elected at the next APCM for the remainder of the three-year term.

The Rector (as Chair) is responsible for the induction of new members explaining their responsibilities and duties, as well as the administrative procedures and philosophical and theological approach of the PCC. All new members receive copies of the previous year’s annual report and accounts. The PCC Secretary advises members of their duties as charity Trustees. In the absence of the Rector, this responsibility falls to the Churchwardens.

At the first meeting of the PCC following the APCM, the lay Chair (acting in the absence of the Rector) and PCC representatives for the Standing Committee, are appointed. Two members are also appointed to the Friends of St James’ Committee as required by the Friends’ constitution.

The PCC Treasurer together with the Chair of the Finance Committee, produce the quarterly and annual accounts and budgets.

Each year the PCC reviews the risks that the Church faces. To date these have mainly related to the maintenance of St. James church, which English Heritage has classified as a Grade One listed building, the SBC, which is a Grade Two listed building, as well as the other buildings managed by the PCC. These risks have been ameliorated by a regular programme of inspection and maintenance as well as compliance with any recommendations made by the Diocesan Architect at his Quinquennial Inspections. There are also minor areas of risk relating to employing staff, which have been covered by appropriate procedures, policies and insurance. For all activities where it is required, Disclosure and Barring Service (DBS) checks have been carried out on each responsible person and others working with children, young people and vulnerable adults, in accordance with the recommendations of the House of Bishops and diocesan policy. The PCC is also aware of the risks associated with making charitable grants and generally controls this by detailed local knowledge of possible beneficiaries. Payments to other charities represent a relatively small part of the PCC’s annual expenditure.

The PCC operates in association with a number of sub-committees that report to the PCC. These include:

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Thorley Parochial Church Council Annual Report and Accounts for the year ended 31st December 2022

Achievements and performance

Worship & Prayer

Worship & Prayer
2022 2021
Total Sunday services 93 (48 in Church, 45 in St Barnabas Centre) 88
Weddings and blessings 2 1
Funerals and interments 25 (13 funerals, 1 thanksgiving, 11 interments) 15
On a usual Sunday attendance - adults On-site – 105; On-line – 30 120
On a usual Sunday attendance – children 18 25
Electoral roll 156 154

Further regular worship has taken place in our homegroups (with both onsite and online meetings to facilitate changing Public Health guidance). Little Worship continued until lockdown prevented face-to-face meeting; they have now restarted.

Other groups, including the music fellowship, Mothers Union, Home Group leaders’ meetings, have continued to take place. In line with our strategy to become a hybrid community these happen both onsite and online to fit the needs of those who attend, and the restrictions placed on us by statutory authorities. We have seen this aspect of our ministry stabilise and regularly find that between 25-35% of the people who attend each of our services do so online.

Regular Home Group leaders’ meetings have taken place, convened and led by our Home Group co-ordinators. Whilst we have seen our worshipping community grow, we have seen the percentage of our community that are involved in home groups decline. They continue to use material that is produced in-house and follows our Sunday morning themed teaching series.

Children and Youth ministry

Following the reset to our youth and children’s work, and resumption of our creche in the final quarter of 2021, we felt the need to develop this further as a result of both children and young people growing through our age groups, and some numerical growth. Ahead of the autumn term, our Sunday morning children’s work provision was rebranded from PowerHouse to Lighthouse. Lighthouse now incorporates a number of other age specific groups. We continue to see growth: we had planned to mothball our creche ministry into an ‘on demand’ ministry due to children growing past this age range. Since September 2022, we have seen significant growth in this age group and are looking to develop our creche further rather than reduce it. Our youth group continues to attract young people both from within our wider congregation and from the wider community.

A Warm Welcome for All

When the church and St. Barnabas Centre are open for public worship, the Welcoming team has a pastoral responsibility on a Sunday morning to offer a warm welcome to all who come through our doors and offers a listening ear, especially to newcomers. Whilst we have found that people were reticent to return to on-site events in the early part of the year, we have found that we welcomed many newcomers to our communities in the final quarter of the year.

Pastoral Care and Prayer Ministry

The members of Pastoral Care team continue to liaise with each other in order to identify the needs of specific parishioners, both home visits and home communions have now resumed.

The Prayer Ministry team remained available for personal prayer during and after every 10:30 am service.

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Thorley Parochial Church Council Annual Report and Accounts for the year ended 31st December 2022

Use and Development of Buildings

The Thorley Christian Centre (TCC), the St. Barnabas Centre (SBC) and the Emmaus Centre (EC) continued to be used by a wide variety of people, as well as by the Church family.

The Friends of St James continue to raise funds for work needed in the Church and curtilage area. The PCC is very grateful to the ‘Friends’ and all those who support it.

Mission and Evangelism

Several members of the St James church family remain actively involved as Street Pastors. We also have our longstanding commitment as teachers or helpers for Holiday Bible Week. The tradition of serving of refreshments from the Church Room on Sunday afternoons continued in 2022. A scaled back Festival of Flowers & Music was organised to raise funds and was highly successful; we also made the decision to change the timing of this for 2023. We are wanting to keep the fundraising element but widen this to include a more missional focus and also include activities that appeal to a wider range of generations.

Fairtrade is one of our core principles. The shop in the St Barnabas Centre continues to operate, although questions about its future are beginning to emerge. The shop is in effect a branch operation of the Mildmay Mission that provides quality HIV/AIDS care, treatment, training and education in Uganda and all profits go to support the Mission.

We have continued our partnership with Kintsugi Hope. This helps us to respond to the increase in struggles with mental and emotional wellbeing we see around us. We have run a peer-to-peer support group each term this year. As we can release more leaders, we hope to see this grow into some provision for young people.

Shared Ministry and Ecumenical Relationships

The PCC is committed to the very strong Churches Together in Bishop’s Stortford and has three representatives on the forum.

Where possible, our clergy attend the monthly ecumenical Bishop’s Stortford Ministers’ Fellowship meeting, monthly Bishop’s Stortford Church of England Clergy lunchtime meeting and the monthly ecumenical ministers’ prayer breakfast. The Rector also attends Deanery Chapter meetings and Deanery Synod meetings.

Three members of the PCC also sit on the Deanery Synod, providing the PCC with an important link between the parish and the wider structures of the church both locally and nationally. Since May 2022 our Rector has also been the Area Dean for Bishop’s Stortford.

Our Vision for 2023 and beyond

Our Mission Action Plan (MAP), was rewritten and adopted in 2021. It outlines our mission, our vision and our values (as described at the start of this report). We continue to work towards the milestones set out in this plan. We have spent much of this year developing areas of hybrid working, web and social media marketing, children and families work and our engagement for ministries to support people who struggle with their emotional and mental wellbeing.

To begin to assess our progress we are planning a review of our MAP in 2023.

Financial review

Thanks to generous giving, prudent financial management and God’s graciousness, our financial position remains solid despite another disrupted and potentially difficult year. Overall, our assets have increased marginally, with our bank balance standing at just over £113,000 (2021: £110,000).

The majority of income was from planned giving by the church family, which remains at about £100,000 (2021: £100,000), whilst one-off gifts this year amounted to £41,000 (2021: £18,000), albeit much of this was restricted. Donations for use of our church premises amounted to £44,000 (2021: £36,000), substantially more than in 2021, but still well down on pre-pandemic levels.

6

Thorley Parochial Church Council Annual Report and Accounts for the year ended 31st December 2022 In 2022, the Friends of St Jame$ Benerousfy donaied £3,LNY) 10 covef the cost of the new boiler in the church. the balance of which was covered by a generous personal gift from a membÈr of the congregation. The flower lestival raised over £S,O(XJ, and a grant ol £l.SOO wa5 secured to pay IDr outreath auwities. irs particular at the new St James, Park developmeni, alon8 Wlth a further 8r3nt of £250 to pay lor much needed youth group equipmeni. Major expenditure included our Diocesan Parish ￿are of £92,6LK)12021.. £88.(XX)1, 518nificantly up on the previous Year. Staff costs were £44.0(X)12021.. £42.C)01 and runnin8 costs for our building5 amounted to E37,WO12021. E30.0001, whilst our chartièble gwing was almost £9,7(). We end 2022 with finances secure. enabling us io commlt funds towards tmproved audio-visual provision in 2023. whilsr sti51 retaining reserves in line with our reseNes poliry as detsiled below. We are grateful for the faithful support of ihe church famity and the abyndant provi5i9n ol God. Resetves The task of the PCC 15 lo carefully manage rhe funds thai are available to it Our reserves target 15 to hold at least three months of costs, based on an average of the unrestricted e¥peaditure lor the last three years, which this year amounts to £190,514. At the end of the year, after iransfers be￿een lunds. our unrestncted. unde5￿nated lund5 amount to E75,443 12021.. £76.5531. This means rhar our resefve5 represent just under 4.8 months, worth of annual expenditure. In addition. we hold E25.28612021.. £10,84SI of resiricred ftsnds, É25,(X))12021.. £25,C(X)l of fund5 de518nated for thè repair and maintenance ol ou¥ buildings and a new £IO.C(Q designated fund as an allowance to cover future planned deficits. The rernainin8 £2.465.026 in desl8nated funds represents our freehold land and property fixed a55ets. The endowrnent fund of £9.365 represents the endowment capital of the Patten Bequest In 2023 we have tommitted io further upgrade rhe audlo-visual and PA equipmeni in rhe St 8arnaba5 Centre tg irnprove the quality of both our on-slte and out streamed seryices. Phases11 and 111 of this upKrade are expected to cost In the order of £21,97S. The depreciation charge on this upgrade will in part be allocated aBO￿n$t ihe restricted lund 01 £13,750 hdd to cover the c05t of the equipment. Our bud8er for 2023 shows an unrestricted operating deficit in the order of £14,SOO. Our reserves alter tfansler5 between funds v40uld fall io around £68.Crf)J, which would represent aboui 4.3 months of annual expenditure. With continued careful management. In financial terms. we are hopeful lor the future. Flnal comment With prayer and God'5 guidance. the PCC and ihe con8re8ation look fofward io the challenges we will face during 2023. alf of the Parochial Church Coundl racey Ichèirl Kirsty Pettinger ILay memberl Oate.. 2 May 2023

Thorley Parochial Church Council Annual Report and Accounts for the year ended 31st December 2022

Statement of financial activities

Note
Income and endowments from:
Donations and grants
2(a)
Other voluntary income
2(b)
Income from charitable and ancillary trading:
2(c)
Income from investments
2(d)
Total income and endowments
Expenditure on:
Grants
3(a)
Charitable activities
3(b)
Fund-raising and publicity
3(c)
Total expenditure
Net income for the year, being net movement
in funds
Transfer between funds
Total funds brought forward at 1 January
Total funds carried forward at 31 December
2022		 Endowment
Unrestricted
Restricted
Total Funds
Funds
Funds
Funds
2022
2021
£
£
£
£
£
-
159,987
30,758
190,745
157,263
-
49,746
-
49,746
44,092
-
7,467
-
7,467
5,163
-
455
-
455
340
-
217,655
30,758
248,413
206,858
-
4,340
5,336
9,676
10,578
-
200,792
10,397
211,189
189,812
-
1,383
584
1,967
2,310
-
206,515
16,317
222,832
202,700
-
11,140
14,441
25,581
4,158
-
-
-
-
-
9,365
2,669,270
10,845
2,689,480
2,685,322
9,365
2,680,410
25,286
2,715,061
2,689,480

All income and expenditure have arisen from continuing activities.

The notes to the accounts are shown on pages 10 to 19 and form part of these financial statements.

8

Thorley Parochial Church CoLtncil Annual Report and Accounts for the year ended 31st December 2022 Balance Sheet Note 2022 2021 Fixed A55ets Tangible fixed a55et5 Investments 2.589.147 9.365 Z.580.094 9.365 2.598,512 1.589.459 Current Assets Debtors Cash at bank and in hand 20.249 113.407 9.748 111.637 133.656 121,385 Liabillt12s'. Amounts Falllni Due Wlthln One Year 13.107 15.114 Net Current Assets 110.549 106,271 Total Assets less Current Uabllrtles 2,719.061 2,695,730 Llabllltles-. Amounts Fallln¥ Due After More Than One Year 6.2SO Net A55et5 1.715,061 2,689.480 Ftsnds Unresrricted Undesignated De51gnated RevaluatlDn rtserye Total Unrestritted 75,443 2,SQO.026 104.941 2.680.410 76.553 2.487.776 104.941 2,669.270 Restricted Endowment 25.Z86 9.365 10.845 9.365 Total Funds 1.715.061 nanclal statement5 weTe approved by the Parochial Church Council on2 May 2023 and signed on its behalf by., Trocey Ichairl Kirsty Pettinger (Lay metnbefl The notes OH page5 10 to 19 lorrn part of these account5.

Thorley Parochial Church Council Annual Report and Accounts for the year ended 31st December 2022

1 Accounting policies

Thorley PCC is a Parochial Church Council in England. The address of the registered office is given in the charity information on page 1 of these financial statements.

Basis of preparation

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the 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) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Like many charities at this time the charity has been dealing with the after effects of the Covid-19 pandemic. Income has increased with the re-opening of the church buildings and the trustees have considered the level of current reserves and believe reserves are sufficient for activities to be maintained for 12 months. A detailed commentary on the reserves position is included in the Trustees report on page 7.

Judgements and key sources of estimation uncertainty

In the application of the Charity’s accounting policies, which are described above, the trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates. The Trustees do not consider that there are any critical judgments or sources of estimation uncertainty in the financial statements.

Funds

Unrestricted funds are general funds which can be used for PCC ordinary purposes.

Designated funds are unrestricted funds that due to their nature are not readily realisable and cannot therefore be considered to be general funds available for PCC ordinary purposes or have been designated for a particular purpose. The PCC’s fixed assets are included in such designated funds.

Restricted funds represent a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and b) donations or grants received for a specific object or

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Thorley Parochial Church Council Annual Report and Accounts for the year ended 31st December 2022

invited by the PCC for a specific object. The funds may only be expended on the specific object 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. The PCC does not usually invest separately for each fund. Where there is no separate investment, interest is apportioned to individual funds on an average balance basis.

Endowment funds are funds, the capital of which must be maintained; only income arising from investment of the endowment may be used either as restricted or unrestricted funds depending upon the purpose for which the endowment was established. The PCC’s only Endowment Fund is the Patten Bequest and provides an income to be used for the upkeep of the Church.

Income recognition

Planned giving, collections and donations are recognised when received. Tax refunds are recognised when receivable. Grants and Legacies are accounted for when the PCC is legally entitled to the amounts due. All other income is recognised when it is receivable. All income is accounted for gross.

Expenditure recognition

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the PCC. The diocesan parish share is accounted for when due. Amounts received specifically for mission are dealt with as restricted funds. All other expenditure, including support costs are generally recognised when incurred and accounted for gross.

Expenditure is stated gross of irrecoverable VAT and has been classified under headings that aggregate all costs related to the category.

Fixed assets

Consecrated and benefice property is not included in the accounts by section 10 of the Charities Act 2011.

Moveable church furnishings held by the Rector and Churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the Church’s inventory, which can be inspected (at any reasonable time). For anything acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements.

Fixtures, fittings and equipment are capitalised at cost. Depreciation is calculated to write off the capitalised cost over an estimated useful life of 3 years.

The trustees have concluded that all land and buildings are held for the PCC’s use and as such none are investment properties.

The PCC has applied the transitional arrangements of section 35 of FRS 102 and measured its freehold property at deemed cost at the date of transition, being 1 January 2015. Since the residual value is so high, any depreciation charge would be negligible. An impairment review is carried out at each year end and any resultant loss identified included in expenditure for the year.

Financial Instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their fair value as at the balance sheet date. All financial instruments of the charity are measured at cost with the exception of the fixed asset land and buildings which are held at their revalued carrying amount. The value of land and buildings is stated in note 5.

Financial assets include the bank balances, trade debtors and other debtors but exclude prepayments and taxation. Financial liabilities include trade creditors, other creditors, accruals and deferred income but exclude social security and other taxes due.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered.

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Thorley Parochial Church Council Annual Report and Accounts for the year ended 31st December 2022

Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income is included at the best estimate of the amounts receivable at the balance sheet date.

Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition, opening of the deposit or similar account.

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. Accrued expenditure is included at the best estimate of the amounts payable at the balance sheet date, after allowing for any trade discounts due.

Pensions

The Charity provides a defined contribution pension scheme, whereby the Charity and its staff each fund the scheme, managed by a third-party provider, the assets of which are held by the provider separately from the assets of the Charity. The pension charge in the financial statements represents the amounts payable by the Charity to the fund in respect of the year.

Taxation

The charity is exempt from corporation tax on its income applied for charitable activities.

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Thorley Parochial Church Council Annual Report and Accounts for the year ended

31st December 2022

2 Income

2(a)
Donations and grants:
Planned giving
Income tax recoverable
Legacy
Grants
CAF Vouchers
Friends of St James contributions to church repair
Listed places of worship grant scheme
Sundry donations/Stewardship campaign
2(b)
Other voluntary income:
Donations for use of Church premises
Fetes, bazaars, other fund-raising events
2(c)
Income from charitable and ancillary trading:
Area Dean income
PCC and wedding fees
2(d)
Income from Investments:
Bank interest
TOTAL INCOME
2 2021 Income Comparative
2(a)
Donations and grants:
Planned giving
Income tax recoverable
Legacy
Grants
CAF Vouchers
Friends of St James contributions to church repair
Listed places of worship grant scheme
Sundry donations/Stewardship campaign
2(b)
Other voluntary income:
Donations for use of Church premises
Fetes, bazaars, other fund-raising events
2(c)
Income from charitable and ancillary trading:
Area Dean Income
PCC and wedding fees
2(d)
Income from Investments:
Bank interest
TOTAL INCOME		 Unrestricted
Restricted
Total Funds
Funds
Funds
2022
2021
£
£
£
£
101,796
-
101,796
102,825
30,110
12,028
-
-
30,110
12,028
26,668
-
-
1,750
1,750
1,000
20
-
-
2,857
20
2,857
-
7,195
-
1,312
1,312
1,433
16,033
24,839
40,872
18,142
159,987
30,758
190,745
157,263
44,135
-
44,135
36,159
5,611
-
5,611
7,933
49,746
-
49,746
44,092
833
6,634
-
-
833
6,634
-
5,163
7,467
-
7,467
5,163
455
-
455
340
217,655
30,758
248,413
206,858
Unrestricted
Restricted
Total Funds
Funds
Funds
2021
£
£
£
102,825
-
102,825
26,668
-
-
-
-
1,000
26,668
-
1,000
-
-
-
7,195
-
7,195
-
1,433
1,433
8,554
9,588
18,142
138,047
19,216
157,263
36,159
-
36,159
7,933
-
7,933
44,092
-
44,092
-
5,163
-
-
-
5,163
5,163
-
5,163
340
-
340
187,642
19,216
206,858

13

Thorley Parochial Church Council Annual Report and Accounts for the year ended 31st December 2022

3 Expenditure

3(a)
3(b)
3(c)
3(d)		 Grants
Other giving
Outreach
Charitable activities
Ministry: diocesan quota
Clergy expenses
Ministry: curate expenses
Upkeep of Church Services
Lighthouse kids, youth groups & fellowship groups
Cost of the music fellowship
Rectory and Parish House repairs
Parish House – loan interest
Church running expenses and repairs
St Barnabas Centre running expenses
Emmaus Centre running expenses
Thorley Christian Centre running expenses & repairs
Support costs 3(d)
Fund-raising and publicity
Costs of fetes and other fund-raising events
TOTAL EXPENDITURE
Support costs
Staff costs (Note 4)
Administration and Office supplies
Accountancy
Website maintenance
Telephone and Miscellaneous
Depreciation		 Unrestricted
Restricted
Total Funds
Funds
Funds
2022
2021
£
£
£
£
40
3,540
3,580
7,599
4,300
1,796
6,096
2,979
4,340
5,336
9,676
10,578
92,604
-
92,604
87,696
3,932
-
3,932
4,444
880
-
880
-
2,051
-
2,051
2,145
690
250
940
627
-
-
-
110
101
-
101
100
52
-
52
143
9,084
8,022
17,106
14,481
17,263
-
17,263
16,783
4,119
-
4,119
2,910
6,352
-
6,352
6,088
63,664
2,125
65,789
54,285
200,792
10,397
211,189
189,812
1,383
584
1,967
2,310
1,383
584
1,967
2,310
206,515
16,317
222,832
202,700
44,369
-
44,369
41,846
9,558
-
9,558
5,484
2,220
-
2,220
1,998
807
-
807
884
4,365
447
4,812
2,144
2,345
1,678
4,023
1,929
63,664
2,125
65,789
54,285

14

Thorley Parochial Church Council Annual Report and Accounts for the year ended 31st December 2022

3 2021 Expenditure Comparative

3(a)
3(b)
3(c)
3(d)		 Grants
Other giving
Outreach
Charitable activities
Ministry: diocesan quota
Clergy expenses
Ministry: curate expenses
Upkeep of Church Services
Lighthouse kids, youth groups & fellowship groups
Cost of the music fellowship
Rectory and Parish House repairs
Parish House – loan interest
Church running expenses and repairs
St Barnabas Centre running expenses
Emmaus Centre running expenses
Thorley Christian Centre running expenses & repairs
Support costs 3(d)
Fund-raising and publicity
Costs of fetes and other fund-raising events
TOTAL EXPENDITURE
Support costs
Staff costs (Note 4)
Administration and Office supplies
Accountancy
Website maintenance
Telephone and Miscellaneous
Depreciation		 Unrestricted
Restricted
Total Funds
Funds
Funds
2021
£
£
£
1,969
5,630
7,599
1,000
1,979
2,979
2,969
7,609
10,578
87,696
-
87,696
4,444
-
4,444
-
-
-
2,145
-
2,145
627
-
627
110
-
110
100
-
100
143
-
143
4,666
9,815
14,481
15,953
830
16,783
2,910
-
2,910
6,088
-
6,088
54,285
-
54,285
179,167
10,645
189,812
2,310
-
2,310
2,310
-
2,310
184,446
18,254
202,700
41,846
-
41,846
5,484
-
5,484
1,998
-
1,998
884
-
884
2,144
-
2,144
1,929
-
1,929
54,285
-
54,285

4 Staff Costs

Staff Costs
Wages and salaries
Pension costs		 Unrestricted
Funds
£
Restricted
Funds
£
Total funds
2022
£
Total Funds
2021
£
43,666
-
43,666
41,194
703
-
703
652
44,369
-
44,369
41,846

During the year the charity employed an average of 3 employees (2021 - 3).

No employees received total employee benefits in excess of £60,000 (2021 - Nil).

The PCC considers its key management personnel to comprise the Rector, Churchwardens and appointed officials (see page 1). No key management personnel received remuneration nor benefits in the year (2021 – Nil).

15

Thorley Parochial Church Council Annual Report and Accounts for the year ended 31st December 2022

5 Fixed Assets

Tangible fixed assets
Freehold land and property owned by PCC
The St Barnabas Centre
The Emmaus Centre
The Thorley Christian Centre (10% PCC interest)
7 Elmbrook Drive (15.04% PCC interest)
Designated Funds
Fixtures, Fittings & Equipment (Unrestricted)
Cost brought forward
Additions
Disposals
Cost carried forward
Accumulated depreciation brought forward
Depreciation charge for the year
Depreciation eliminated on disposal
Accumulated depreciation carried forward
Net book value brought forward
Net book value carried forward
Total fixed assets		 2022
2021
£
£
1,989,927
1,989,927
478,335
478,335
49,748
49,748
58,957
58,957
2,576,967
2,576,967
2,576,967
2,576,967
6,346
2,361
13,077
3,985
-
-
19,423
6,346
3,219
1,290
4,024
1,929
-
-
7,243
3,219
3,127
1,071
12,180
3,127
2,589,147
2,580,094

The PCC owns two freehold buildings, the St Barnabas Centre and the Emmaus Centre both in Church Lane, Thorley. The Diocese owns the Thorley Christian Centre, Vicerons Place, Thorley Park, but would give 10% of the net proceeds of any sale to St James. The Parish House is a residential property owned with the Diocese. The PCC owns 15.04%.

The PCC has applied the transitional arrangements of section 35 of FRS 102 and measured its freehold property as noted above and used those valuations as its deemed cost at the date of transition, being 1 January 2015. Given the unique nature of the three Centres, the properties were valued based on the insurance value and their value in use. The Trustees resolved to adopt a market value for 7 Elmbrook Drive of £392,000 for the year ended 31 December 2015, meaning that the PCC’s share of the valuation increased.

6 Debtors

Accounts receivable
Income tax recoverable
Prepayments and accrued income		 2022
2021
£
£
489
170
7,000
5,859
12,760
3,719
20,249
9,748

16

Thorley Parochial Church Council Annual Report and Accounts for the year ended 31st December 2022

7 Liabilities: Amounts Falling Due Within One Year

DBF/Vacancy Liability
Deposits held
Accrued expenses
Creditors for goods and services
Wedding fee / Funeral fee disbursements
Tax and National Insurance
Diocesan loan re 7 Elmbrook Drive (see note 8)
Liabilities: Amounts Falling Due After More Than One Year
Diocesan loan re 7 Elmbrook Drive		 2022
2021
£
£
522
465
351
151
4,723
2,400
3,506
8,213
342
425
663
460
3,000
3,000
13,107
15,114
2022
2021
£
£
4,000
6,250
4,000
6,250

8 Liabilities: Amounts Falling Due After More Than One Year

The loan is in relation to the Parish House. £3,000 is payable annually to the Diocese of St Albans, but this year the figure has been reduced by rent received.

9 Movement on Funds

Unrestricted funds:
General undesignated
Designated
Revaluation reserve
Restricted funds:
Church yard
Healing on the streets
Health & safety fund
Parish events
Church boiler
Other
Special collections
FOSJ church repair fund
Listed places of worship grant scheme
Beverley Cheeseman worship fund
Barn IT fund
Phases II and III technology fund
Strictly Stortford
Bell Tower Fund
Macmillan Care
Children and youth grant
Other grant
Kitchen fund
Endowment
Total funds		 At 1 January
2022
Income
Expenditure
Transfers
At 31
December 2022
£
£
£
£
76,553
207,655
206,515
(2,250)
75,443
2,487,776
10,000
-
2,250
2,500,026
104,941
-
-
-
104,941
2,669,270
217,655
206,515
-
2,680,410
-
150
150
-
-
314
-
314
-
-
-
-
-
-
-
605
904
872
-
637
-
4,000
-
(4,000)
-
-
-
-
-
-
-
3,144
3,144
-
-
-
4,169
8,169
4,000
-
-
-
-
-
-
2,035
450
-
-
2,485
1,679
-
1,679
-
-
-
13,750
-
-
13,750
-
1,006
1,006
-
-
-
1,435
150
-
1,285
-
-
-
-
-
-
250
250
-
-
-
1,500
583
-
917
6,212
-
-
-
6,212
10,845
30,758
16,317
-
25,286
9,365
-
-
-
9,365
2,689,480
248,413
222,832
-
2,715,061

17

Thorley Parochial Church Council Annual Report and Accounts for the year ended 31st December 2022

Movement on Funds comparative

Unrestricted funds:
General undesignated
Designated
Revaluation reserve
Restricted funds:
Church yard
Healing on the streets
Health & safety fund
Parish events
Church boiler
Other
Special collections
FOSJ church repair fund
Listed places of worship grant scheme
Beverley Cheeseman worship fund
Barn IT fund
Phases II and III technology fund
Strictly Stortford
Bell Tower Fund
Macmillan Care
Children and youth grant
Other grant
Kitchen fund
Endowment
Total funds		 At 1 January
2021
£
76,260
2,484,776
104,941		 Income
Expenditure
Transfers
At 31 December
2021
£
£
£
187,642
184,446
(2,903)
76,553
-
-
3,000
2,487,776
-
-
-
104,941
2,665,977 187,642
184,446
97
2,669,270
636
314
106
710
-
18
123
79
-
1,585
197
-
-
-
-
-
-
6,212		 150
1,187
401
-
-
-
-
314
-
-
(106)
-
847
685
(267)
605
-
-
-
-
5
-
(23)
-
5,530
5,630
(23)
-
7,195
7,195
(79)
-
1,433
1,433
-
-
450
-
-
2,035
2,311
830
1
1,679
-
-
-
-
-
-
-
-
-
-
-
-
295
287
(8)
-
1,000
1,007
7
-
-
-
-
-
-
-
-
6,212
9.980 19,216
18,254
(97)
10,845
9,365 -
-
-
9,365
2,685,322 206,858
202,700
-
2,689,480

General unrestricted fund - The general unrestricted fund is used for PCC ordinary purposes.

Designated fund - The designated funds comprise the Freehold land and property, net of loans, the designated property repair fund (£25,000) and an allowance to cover future planned deficits (£10,000).

Restricted fund - The restricted funds represent donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object 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.

In 2021 restricted transfers were made to account for costs incurred under the unrestricted fund. Transfers were immaterial.

Revaluation reserve – The revaluation reserve is in relation to the property valuation undertaken on transition to FRS102.

Endowment fund – The endowment fund represents the Patten Bequest and provides an income to be used for the upkeep of the Church which is shown as restricted.

18

Thorley Parochial Church Council Annual Report and Accounts for the year ended 31st December 2022

10 Analysis of Net Assets by Fund

Fixed Assets
Investments
Net Current Assets
Long Term Liabilities
Fund balance		 Endowment
Funds
Unrestricted
Funds
Designated
Funds
Revaluation
Reserve
Restricted
Funds
Total
£
£
£
£
£
£
-
12,180
2,472,026
104,941
-
2,589,147
9,365
-
-
-
-
9,365
-
63,263
35,000
-
25,286
123,549
-
-
(7,000)
-
-
(7,000)
9,365
75,443
2,500,026
104,941
25,286
2,715,061

Analysis of Net Assets by Fund (comparative)

Fixed Assets
Investments
Net Current Assets
Long Term Liabilities
Fund balance		 Endowment
Funds
Unrestricted
Funds
Designated
Funds
Revaluation
Reserve
Restricted
Funds
Total
£
£
£
£
£
£
-
3,127
2,472,026
104,941
-
2,580,094
9,365
-
-
-
-
9,365
-
73,426
25,000
-
10,845
109,271
-
-
(9,250)
-
-
(9,250)
9,365
76,553
2,487,776
104,941
10,845
2,689,480

11 Independent Examination Fees

Accountancy expenditure includes £1,770 fees paid to the Independent Examiners for carrying out the Independent Examination (2021 - £1,770).

12 Trustees Remuneration and Expenses

The trustees neither received nor waived any remuneration or benefits during the year (2021 - £Nil).

During the year 2 trustees (2021 - 2 trustees) had the following expenses paid for by the charity:

Travel
Training
Internet and communications
Other costs		 2022
2021
£
£
2,666
3,067
705
-
938
683
503
694
4,812
4,444

13 Related Party Transactions

There were no related party transactions in the year (2021 – Nil).

19

Thorley Parochial Church Council Annual Report and Accounts for the year ended 31st December 2022

Independent Examiner's Report to the Trustees of The Parochial Church Council of St. James The Great Thorley.

I report on the accounts of the charity for the year ended 31 December 2022 which are set out on pages 8 to 19.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material 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 charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts 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 accounts to be reached.

Helena Wilkinson FCA Price Bailey LLP Causeway House 1 Dane Street Bishops Stortford Hertfordshire CM23 3BT

Date: 10 May 2023

20