## **2023 REPORT AND ACCOUNTS** 

## **FOR** 

## **THE PAROCHIAL CHURCH COUNCIL** 

## **OF** 

## **ST. JAMES THE GREAT** 

## **THORLEY** 

**REGISTERED CHARITY NO. 1130506** 



Thorley Parochial Church Counol
Annual Report and Accounts for the year ended
31st December 2023
Reglstered Charlty No:
Parochial Church Council ("PCU)
Members (Tru5tees}:
Gaz Tracey (Rector)
Claire finlay (Curate)
Emma Whlte (Churchwardenl
Ernma Collins Ichurchwardenl
Chris Carr (Reader)
Katharlne Roper (Reader) {Deanery until 2026)
Klrsty Pettlnger (Treasurer) {'Initially aFOPted and then
appointed September 20231 IPCC until 20241
Mary Brarnley IPCC until 20241
Robble Ward-Booth IPCC until 20241
Allson Somets IPCC until 20251
Chrfs Collln5 IPCC until 20251
Daniel Danlells-smlth IPCC until 20251
Sue Carr IPCC until 20261
Phillppa Roy•iowdhury IPCC until 20261
Sue Sembhi {PCC until 20261
Paul Dean (Deanery until 20261
aive Welr (Deanery until 20261
Annio osbo￿ (resigned September 20231
PCC Secretary
De5 Conridge
Principal Office:
Church Office
The St Barnabas Centre
Church Lane
Thorley
Bishop's Stortford
CM23 4BE
Bankers:
Bardays Bank Pk.
10 North Street
Bishop's Stortford
CM23 2LH
Independent Examiners:
Suzanne Goldsmith
Prlce Balley LLP
Causewdy House
l Dane Street
Bishop'5 Stortford
CM23 3BT
Insurers:
EIO IEccle5iastical Insurance Office) PIC

Thorley Par(xhial Church Councll
Annual Report and Accounts for the year ended
31st December 2023
Alms and Purposes of the PCC
Thorley Parochial Church Council IPCCI works with the incumbent in promoting the ecclesiastical parish in
aSSOCiation with the mission of the Church as laid down in the church's Mi55ion Artion Plan, which embrace5
pastoral, evangelistic. social and ecumenical initiatives. The PCC is responsible for the maintenance and use of the
building5 Wlth which we are blessed.
The PCC continued to work towards the fuffilment of our Mission Action PSan IMAP). We continue to organi5e and
evaluate our mission and ministry against the following Vision. Mission and Values:
Ision Statementr. Yo see lives that are changed by the transforming power of God's Spirit as people come to
know, experience. love and follow Jesus."
Mlsslon SLitement: 'Making Jesus known, in our communities and networks. to the disadvantaged and in the
wider world, through words and by action.-
r Values:
Community. by beingtogetherwe know thatv￿ can build hope, which we find in Jesus, not only in our
own lives but a150 in the lives of those around us. We accept and respect one another for who we are, as
we live out our INes in the community of the Church.
Discipleship.. followin8 in Chrisvs footsteps so that V￿ can hear what He is saying to us and Irve out His
teaching.
Outward focused: we have been entrusted with the Good News of Christ and we realise that we must
share that Good News wrth others.
Intimacy: in relationship with God, in our worship. in the appropriate c105ene55 of our relationships with.
and support for, one another.
Integrity: in our actions. in our openness, in our honesty about ourselves and others, in our pursuit of
making Jesus known and seeing God's transforming presence at work in our lives and those around us.
Courage: to follow God wherever He leads. moking faith based decisions in all areas of our indrvidual
lives and the life of the Church.
Generosity. we realise that for those to whom much is given. much will be experted and we always seek
to use our time. talents and resources in serving Christ and others.
To organise our mission and ministry across the whole church, we use three words-
G*her, Grow, Go.
They Serve to underline some of the things that we see a5 important in living Christian
lives of community, mission and ministry together. They also provide a strateEIC
framework around which we develop our Mission Artion Plan IMAPI- This 15 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 strateglc 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.
Gather
Grow
Overvlew, Objectlves and Actlvltles
The PCC is committed to reaching as many people a5 P055ible through worship at St. James and via its outreach
opportunities throughout the year.
2023 was a year of growth in our worship seryices. and in general across our community. Like many churches of
our style and size this isn't always reflected in oursundayattendance as we see even our more committed members
less regularly.

Thorley Parochial Church Council
Annual Report and Accounts for the year ended
31st December 2023
In July 2023 we held a relaunched 'St James Festival. in which we planned. and managed, to build on 5ucce55 of
previous events and OFen this event to emerging generations of our growing parish.
We continued to work hard to maintain and develop the buildings that have been entrusted to our care. We have
completed the AV upgrade for the St Barnaba5 Centre, and have started to plan the next phases of our Capital
Spend strategy. We have spent significant time this year enEaEed in the needed work to maintain our historic
buildings, with exploratory works to assess what is needed to maintain stained glass w5ndows, and essential
grounds maintenance.
Sadty. we experienced two Separate floodsthis year, both within the St Barnabas Centre. Whilst we have completed
the immediate remedial work. and carried out some flood prevention works this wlll remain a priority for our
thinking in the coming years.
We have also committed to the Church of England's intent of working towards being Carbon Net Zero by 2030. This
has begun to impact ourspendin8 and budgeting decision5. as well our planning decisions surrounifing maintenance
work surrounding our building5.
Buildings
The PCC has responsibillty for fve building5:
The Church Centre Complex. Clwrth lane. Thorley
St. Jame5 the Great Church which dates from the 13 ￿ntury
The Church Room, originally the old Thorfey schoolroom. rebuilt in 1994
The St Barnabas Centre ISBCI. a restored 16 century tithe barn. opened in April 1996
The Emmaus Centre. a fomer Dutch bam. rebullt then opened in 21x13
The Thorley Christian Centre (rcc), Wbterons Place. Thorlev
Originally a 'Local Ecumenical Projert,. rt wds tsken over by the PCC in 2(Kll at the request of the other
churches.
In addition, the PCC hasJoint responsibility with the Diocese of St Albans for a further 2 buildings:
The Rectory. Vicerons Place, Thorley Park.
The Curate's house. 7 Elmbrook Drive. Thorley ParL Currently used to house our curate.
Ensuring our work dellvers our aims
We review our airns. objectives and outcomes each year. This review look5 at the success of each key activity and
the benefits they have brought to thosegroupsof people we help and 5UPPOrt. The review a150 enables usto ensure
our aims. objectives and activities remain focused on our ststed purpo5e5. We have referred to the guidance
contained in the Charity Commission's general guidance on public benefit when ￿VIewIng 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.
Structurei governan￿ and rnanagement
At the Annual Meeting of Parishioners IAMPI. held in May 2023. all those living in the parish or who are on the
Electoral Roll of Stjames the Great. are entitled to electtwo Churchwardens who are elected annually and can hold
office for six Suc￿sSive years, followin8 which they must step down for a period of 2 years in accordance with the
Churchworden5 Measure (2001. No. l) and agreed by resolution of the AMP in 2020. As a consequence of this
meeting two Churchwardens were appointed.
The PCC of St James the Great is a registered charity and all members. including ex-offiao and co-opted members
are Trustee5 named on the Charlty Commission register.

Thorley Parochial Church Council
Annual Report and Accounts for the year ended
31st December 2023
The strutture and govemance of the PCC is laid out in the Church Repre5entotion Rule5 (2022) and is made up of
several categories of members as follows=
The Rector (Chairl
The curate lif in postl
Up to three Readers {by resolution of the APCM in 20171
2 elerted Churchwardens
3 elected Deanery Synod representatNes
9 elected lay representatives (by a resolLrtion passed at the APCM in 2016)
I CO￿pted treasurer (although our t￿aSurer has now been appointed to fill a vacancy)
I non-voting secretary
Other members of the congregation may be c(Fopted a5 required, but not exteeding in number one fifth of the
elected lay members, or two persons whichever shall be the greater.
The Annual Parochial Church Meeting IAPCMI elects the lay and deanery representatNes. Voting at the APCM is
restricted to members on the Electoral Roll only. Eletted lay representative5 serve for a three-year term with one-
third standing down each year and one third being elected or re*lected. Members must stand down after two
consecutive 3-yearterms and cannot be reelected forat least one year. Deanery Synod representatives are elected
every three years and remain in office for the whole terni, but should any representative relinquish their position,
a replacement will be electe(l at the next APCM for the rernainder of the three-year temi.
The Rector las Chairl is resF)onsible for the induction of new members explaining their responsibilities and duties,
as well a5 the administrative procedure5 and philosophical and theological approach of the PCC. All new members
receive copies of the previous yearfs annual reportand accounts. The PCC Secretary advises members of theirduties
as charity Tru5tee5. In the absen￿ of the Rector. this responsibiltty falls to the Churchwardens.
At the first meeting of the PCC following the APCM. the lay Chair lactinE 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
Jomes, Comrnittee as required by the Friends, Constr￿tiOn.
The PCC Treasurer together wtth the Chair of the Finance Commlttee. produ￿ the quarterly and annual accounts
and budgets.
Each year the PCC reviews the risks that the Church faces. To date these have mainly relatsd to the maintenance
of St. James church, which English Heritsge has classthed as a Grade One listed buildin& the SBC, which is a Grade
Two listed buildin& as well as the other buildings managed by the PCC These risks have been ameliorated by a
regular programme of inspection and maintenance a5 well as Complian￿ with any recommendations made by the
Diocesan Architect at hi5 Quinquennial Inspections. There are also minor areas of risk relating to employing staff,
which have been cOVe￿d by appropriate procedure5. policie5 and insurance. For all activities where it is required,
Disclosure and Barring servi￿ (DBSI check5 have been carried out on each responsible person and others working
with children. young people and vulnerable adults. in accor(lance 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 asslxlation with o number of 5ub-committee5 that report to the PCC. These include..
The Standing Comrnittee is the only committee required by law and hasthe power to transact the busine55
of the PCC between its meetings, subject to any dirertions and limits given by the PCC.
The Flnance Commlttee presents proposals, reports, procedures, accounts and budgets for PCC approval.
The Premises Group attends to all matters relating to land and buildings includin8 the church, the
churchyard, the church room. the SBC, the Emmaus Centre, car parks, the TCC. and the parish house,

Thorley Parochial Church Council
Annual Report and Accounts forthe year ended
31st December 2023
Achievements and perfomiance
Worship & Prayer
2023
2022
Total Sunday services
101 152 in Churth. 49 in St
Barnabas Centrel
93148 in Churth. 45 in St 8arnabas
Centrel
Weddings and blessings
Funerals and internients
22114 funera15. 8 intemientsl
25113 funerals. I thanksgiving, 11
interments)
On a usual Sunday attendan
adults
Onsite 114, Online 28
On-5ite- IOS: On-line- 30
On a usual Sunday attendan
children
19 (including Youth)
18
Electoral roll
163
156
Further regular worship has taken place in our homegroups (with both onsite and online meetings to facilitate
changing Public Health guidancel.
Other groups. including the music fellowshlp. Mothers Union. Home Group leader< meeting5, have continued to
take place. In line with our Strategy to become a hybrid ¢ommuntty these happen both onsite and online to fit the
need5 of those who attend, and the restrictions placed on us by ststutory authorities. We have seen this aspect of
our ministry 5tabilise and regulady find that between 25-35% of the people who attend each of our services do so
online.
Regular Home Group leader< meetings have tsken pla￿. 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 pr￿luced in-house and foll0v￿ our Sunday
momin8 themed teaching serie&
Chlldren and Youth ministry
Our Sunday morning youth and children's wor* continued to develop throughout 2023. We needed to plan for
more age specific groups, and have reinstated Sunday moming groups for our pr&teens and teens. Our Sunday
evening youth group continued to meet throughout the year. Little Stars, our parent and toddler group, following
a reset in 2022 has continued to grow and flourish. We now face slgnificant i55ue5 of capacity, and are looklng to
find other suitsble rneetiT7g spaces across our buildings.
A Wami Welcome for All
St James is committed to providing a warm and welcoming Spa￿ for all segments of our communlty. Our
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.
Pastornl Care and Prayer Mlnlsty
The members of Pastoral Care team continue to liaise with each other in order to identify the need5 of Specific
parishioners, both home vi&ts and home communions have now resumed.
The Prayer Ministry team remained available for personal prayer during and after every 10-30 am serlice.
Use and Development of Buildings
The Thorleychristian Centre ITCC). the St. Barnabas Centre {SBC) and the Emmaus Centre IECI continued to be used
by a wide varlety of people, as V￿11 as by the Church family.

Thorley Parochial Church Council
Annual Report and Accounts for the year ended
31st December 2023
The Friends of St James continue to raise funds for work needed in the Church and curtila8e area. The PCC is very
grateful to the 'Friends' and all those who support it.
fvllsslon and Evangellsm
Several members of the St James church farnify remain actively involved as Street Pastors. We also have our long-
standing commitment as teacher5 or helpers for Holiday Bible Week. The trddrtion of serving of refreshments from
the Church Room on Sunday afternoons continued in 2023. A revamped Festival of Flowers & Music was organised
to raise funds and was highly successful- this became the '5t Jame5 Festival, in 2023. We managed to keep 59me of
the fundrdising element but widen this to include a more missional focus and also include attivities that appeal to
a wider range of generations. We are planning on keeping the building blocks for this the same as we plan for 2024.
Fairtrade is one of our core principles. but we have seen this become more mainstream. The shop in the St Bamabas
Centre continues to operate, althou8h its ministry is now being run down towards closure in early 2024.
To manage both our mission giving and external mission partnerships the Giving Group wa5 re*stsblished in the
final few month5 of 2023.
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.
whe￿ possible. our clergy attend the monthly ecumeni¢al Bishop's Stortford Ministers, Fellowship meetin&
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 rneeting5.
Three Members of the PCC also Sit on the Deanery Synod. providing the PCC with an important link between the
parish and the wider struttures 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 2024 and beyond
Our Mission Action Plan IMAP), was rewrTtten and adopted in 2021. It OLrtlines our mission, our vision and our
value5 las described at the start of this reFK)rtl. We continue to work towards the milestones set out in this plan.
We have spent much of this year working on the Leadership Development a5pect5 of our MAP. We have identrfied
further developments into the area5 of previous focus- hybrid working, web and s¢xial media marketing, children
and families work and our engagement for ministries to support people who strug8le with their emotional and
mentsl wellbeing.
Having largely corne to the expected outcornes in many areas of our 2021 MAP. we will spend much of 2024
evaluating what V￿ have done and planning for the next MAP cycle.
Financial review
Thank5 to generous giving. prudent financial management and God's graciou5ne55. our financial position remains
stable despite another disnJpted and pN)tentially difficult year. Overall. our assets have increased marginally in the
vear, with our bank balance standing at circa £105.IXX) {2022= £113,(J)01.
The majority of our unrestricted income was from planned giving by the church famity, which amounted to
£108,000 including regularfunds given via Charities Aid Foundation or equivalentvouchers12022: £102,000), whilst
one-off gifts this year amounted to £22,(XKI 12022: £41.(￿): the figure for 2022 includes a legacy of £lO,IXJO
Icarried back from receipt in January 20231, plus restricted fund5 of £13,750 for new technology and equipment.
Donations for use of our church premises amounted to £47,0(NJ12022: £44,OD)I which. whilst growin& is still well
down on pre-pandemic levels. This year our new Summer Fayre. although not primarily a fundraising event,
generated net income of £2.834.
Major expenditure included our Diocesan Parish Share of £93,IMKI which is similar to the previous year {2022:
£92,CN)01, although we are aware that thi5 will rise substantially in 2024. Staff costs were £47.(K)012022= £44,0(x)I
and unrestricied running costs for our buildings were down to £34.CMJO12022: £37.IXIOI. as a ￿sUIt of redU￿d repair

Thorley Parochial Church Council
Annual Report and Accounts for the year ended
315t December 2023
Q5ts and. even though market rates for utility costs had increased Significantly, we benefited from our fixed price
contracts. Charitable giving was almost £9.tKKJ12022: £10,(KX)l. We also spent around £24.0(MJ thi5 year on new
technology in the St Bamabas Centre to improve the quality of the sound and also our streaminE capabilities.
We end 2023 with finance5 Secure. We are grateful for the faithful sUPPOrt of the church family and the abundant
provision of God.
Reserves
The task of the PCC 15 to carefijlly manage the fvnd5 that are available to it. Our reseNes targèt is to hold at least
three rnonths of costs. based on an average of the unrestricted expenditure for the last three years, which this year
amounts to £202.1)JO.
At the end of the year {after transfers between furKls including the release of our £IO,OW workin8 capital
designated fund), our unrestricted, undesignated fijnds amount to £84.11312022: £75,443). Thi5 means that our
reserves represent just under 5.0 months. worth of annual expendtture.
In 2023 we upgraded the audio-visual and PA equipment in the St Barnabas Centre to improve the quality of both
our on-site and our streamed serwces. and we purchased a new keyboard. The total cost paid from restricted funds.
amounted to £15,742. We are very grateful for the generous gifts which made this possible. As a result. we have
now released these fvnds from restricted balances to un￿StriCted designated funds. After depreciation. this
designated fund balance at the year*nd amounts to £10.495.
In addition. we hold E12,64112022.. £25.2861 of restricted funds. £25,OCK) {2022: £25.￿)1 of funds designated for
the repair and maintenance of our building5. whilst our designated fund to cover future planned deficits has
reduced to £nil12022: £10,OCIJI.
The remaining £2,468,026 in designated funds together with the revaluation reserve of £104,941 ￿preseftts our
freehold land and property fixed assets less the outstanding loan of £4.cxxJ. The endowment fund has increased to
£10,353 as a result of an increase ir) the underlying investment value of the fund held by the Diocese12022'. £9,365)
and thi5 represents the endowment capital of the Patten Bequest.
Our budget for 2024 shows an unrestricted operating defictt in the order of £28.(KKI. although we are hopeful that
this tan be reduced by an increase in reEulargiving. Our reserves aftertransfers between funds would fall to around
£53.IXIO. which would represent 3.1 months of annual expenditure; this is onlyjust over our resetves tsrgeL
With continued careful finanoal management, and relian￿ on the provision of God, we are hopeful for the future.
Final comment
With prayer and God's 8uidance. the PCC and the congregation look forward to the challenges we will fa￿ during
2024.
half of the Parochial Church Council
G P Tracey Ichairl
Klrsty Pettin8er (Lay member)
Date..
3)K W

Thorley Parochial Church Council
Annual Report and Accounts for the year ended
315t December 2023
Statement of financial activitles
Lthr¥trk*d Des[g￿￿ RestrJ¢ted Total Furth Total Fund$
Funds
Fur
2023
2022
Fund5
Income and endowments
Donations and grants
OthervoluThtary incorr
Incorne from CharItab￿ and
ancillary tradln8:
Income from investrr*nts
21al
21bl
21cl
.199
51,943
9.173
6.757
150
160,956
52.1Y33
9,173
190,745
49,746
7A67
21dl
IA9)
1,490
455
Total Income and
endowments
216W5
223,712
Z48A
E¥penifrture on:
Grants
aritsble acttvkles
FUn¢&￿I51￿g and publklty
31al
3(bl
3(cl
7.491
205,522
2.122
1.425
246
2.139
8,916
211,015
4,261
9.676
211.189
1,967
5.247
Total expendrture
215.135
5247
3.810
224.192 222.832
Net Income1[eMpendI￿1e} for
the year
L670
15247)
(480)
15.511
Net galn on Invesmnts
Transfer betrween fiJTrJs
8.742
115.7421
Nel mo￿￿nI In fund51Drthe
670
3,495
111645)
Z5.581
Totsl funds broughtforward at
l January IRevalu*ion reserve
included with d￿gnated fund51
9.365
75.443 2.E4)4.967
25.286 in5,C61
1689.480
Total funds carried forward
at 31 December 2023
10353
84.iu 1608.462
11641 1715,569
715,061
All income and expendtture have arisen from continuin8 activities.
The notes to the account5 are Shown on pages 10 to 20 and fonn part of these financial 5tstements.

Thorley Parochial Church Council
Annual Report and Accounts forthe year ended
31st December 2023
Balance Sheet
2023
Fixed Assets
Tangible fixed assèts
Investments
2,6C¥J,818
10,353
2,589,147
9,365
611,171
2.598.512
Currerrt Assets
Debtors
Cash at bank and in hand
10,450
104,599
20,249
113.407
115049
133.656
Uablllt5es: Amounts Faltln8 Due Wlthln One Year
9.651
13.107
Net Current Assets
105.398
120.549
T¢rtal Assets Less Current Llabllltles
In6￿69
719,1%1
Liabilities: Amourts Fallini DueAfter MoreThan One Year
NetAssets
2,715,569
1715,061
Funds
Unrestricted
Unde5ignated
Designated
Revaluadon reserye
Totsl Unrestricted
84,1
2.503.521
104,941
1692.575
75,443
2.500.026
104,941
2,680.410
Restricted
Endowment
12,641
10,353
25.286
9,365
Total Funds
1715WJ
I715￿1
Th financial statements were approved by the Parochial Church Council on Lq. ¢.ILrand signed on its behalf by:
G P Tracey
(Chairl
KI￿tY Pettinger
(Lay member)

Thorley Parochial Church Council
Annual Report and Accounts forthe year ended
31st December 2023
The notes on pages 10 to 20 form part of these accounts.
Accounting poliaes
Thorley PCC is a Parochial Church Council in England. The addres5 of the registered office 15 given in the charity
information on page l of these financial statements.
Basis of preparatlon
The charity constitutes a public benefit entity as defined by FRS 102. The financial ststements have been prepared
In accordance with Accounting and Reporting by Charities= Ststement of Recommended Practice applicable to
charities preparing their accounts in accordan￿ with the Finanaal Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021 (effective l January 20191- (Charities SORP {FRS 10211. the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
The charity meets the definition of a public benefrt 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 fairf view and have departed from the Charities
IAccounts and Reports) Regulations 2CIJ8 only to the extent required to provide a'true and fairviev/. This departure
has involved following the Accounting and Reporting by Charities: Ststement of Recommended Practice applicable
to charities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021 issued in October 2019 rather than the Accounting and Reporting by Charities:
Statement of Recommended Practice effective from l April 2CKJS which has since been withdrawn.
The financial statements are prepared on a going cOn￿M basis under the historical cost convention, modified to
include certain items at fairvalue. The financial Statements are presented in sterling which isthe functional currency
of the tharity 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 finanaal statements have been prepared on a going concern basis a5 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 month5 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.
ke many charities atthi5 time the chartty 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 attivities to be maintained for 12 months. A detailed commentary
on the reserves Position [5 included in the Trn￿teeS report on page 7.
Judgements and key sources of estlmatlon uncertainty
In the application of the ChariW5 accountin8 policies, which are described above. the trustees are requlred to make
judgements. estimates and assumption5 atK)Ut the carrwng amounts of assets and liabilitie5 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 drffer from those estimates. The Trustees do
not consider that there are any critical judgments or sources of estimation uncertainty in the financlal statements.
Funds
Unrestrirted fvnds a￿ general funds which can be used for PCC ordinary purposes.
Designated funds are Un￿$t￿tted funds that due to their nature are not readily reolisable 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 a55ets a￿ included in such designated funds.
io

Thorley Parochial Church Council
Annual Report and Accounts for the year ended
31st December 2023
Re5trictÈd funds represent al Income from trusts or endowments which may be expended only on those restrlcted
objects provided in the temis of the trust or beque5L and bl donation5 Qr 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.
The PCC doe5 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 restritted or unrestricted funds depending upon the purpose for which the
endowment was established.The Pcc'sonly Endowment Fund 15 the Patten Bequest and provides an income to be
used for the upkeep of the Church. The fund value is increased in line wrth the value of the related investment.
Income recognttion
Planned givin& ¢ollections and donations are recognised when re￿Ived. Tax rthnds are recogni5ed when
receivable. Grants and Legacies are accounted for when the PCC is legally entitled to the amounts due. All other
Income is recognised when tt is re￿1Vable. All income is accounted for gross.
ExPendI￿re recognition
Grants and donations are accounted for when paid over. or when awarded. if that award creates a bindin8 or
constructive obligation on the PCC. The diocesan parish share is accounted for when due. Amounts received
specificallyfor mission are dealt with as restrirted fund&AI 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 headin8S that aggregate all costs
related to the category.
Foxed 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 Churthwardens on spetial trust for the PCC and which ￿quI
a faculty for disposal are inalienable property. listed in the Church's inventory. which can be inspected lat ary
reasonable timel. For anything acquired prior to 21XMJ there is insufficient cost infomiation available and therefore
such assets are not valued in the financial statements.
Flxtures, frttings and equipment are capitslised at cost. Depreciation is calculated to wrrte off the capitalised cost
over an estimated usefvl life of 3 years.
The trustees have concluded that all land and buildings are held for the PCCS use and as such none are investment
properties.
The PCC has applied the transTtional arrangements of sethoft 35 of FRS 102 and measured tts freehold property at
deemed c05t at the date of trdn51tion, being l January 2015. Since the residual value is so hlgh, any depreciation
charge would be negligible. An impairment review is carried out at each year end and any resultant loss identified
included in expenditu￿ for the year.
Flnanclal Instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instrument> Basic
financial instruments are initialby recognised at transaction value and Subsequent￿ measured at their fair value a5
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 balaft￿$. trdde debtors and other debtors but exclude p￿p8yrnents and
taxation. Financial liabilities include trade creditors. other credttors, accruals and deferred income but exclude
50cial security ond other tsxe5 due.
li

Thorley Parochial Church Council
Annual Report and Accounts forthe year ended
31st December 2023
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income is included at the
best estimate of the amounts receNable at the balance sheet date.
Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highty liquid investments with a short maturity of th￿e
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 nomially recogni5ed at their settlement amount after allowing for any trade
discounts due. Accrued expenditure is included at the best estimate of the amount5 payable at the balance sheet
date. after allowing for any trade discounts due.
Pensions
The Charity provides a defined contributlon 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.
Taxatlon
The charity 15 exempt from corporation tsx on its income applied for Charitab￿ activitie
12

Thorley Parochial Church Council
Annual Report and Accounts for the year ended
31st December 2023
Z Income
Total Fun(ts
2023
F￿d$
Funds
21al
D￿ationS and grants-
Planned gNing
Income tax recoverable
Legacy
Grants
CAF I Stewardship Vouchers
Friends of St james contribLrfons to church repair
Listed places of worship grant stheme
Sundry donations
105,486
29,243
1.037
106.523
29,243
101.796
30,110
12,028
1,750
20
2.857
1,312
40,872
190.745
2,635
620
3.255
16.835
154,199
5.1
6,757
21,935
160,956
21bl
Other voluntsry income:
Donations for use of Churth premrses
Fetes, bazaars, otherfund-raising events
46.987
4.956
51.943
150
47.137
4,956
52,093
44,135
5,611
49,746
150
21cl
Income from charitable and ancillary trading..
Area Dean income
PCC, funeral and wedding f
279
6,894
9,173
2.279
6.894
9.173
833
6,634
7,467
21dl
Income from Investments:
Bank interest
1.490
1.490
455
TOTAL INCOME
216W5
223.712
248.413
2 2022 Income Comparatlve
Unrestrlrted Restrirted
Funds
Fund5
Total Funds
2022
21al
Donations and grants:
Planned giving
Income tax ￿coVerable
Legacy
Grants
CAF I Stewardship Vouchers
Friends of St Jame5 contributions to church repair
Listed place5 of worship grant scheme
Sundry donation5
101.796
30,110
12,028
101,796
30,110
12.028
1.750
20
2,857
1.312
40.872
I￿.745
1.750
20
2,857
1.312
24,839
30,758
16,033
159,987
21bl
Othervoluntsry income-.
Donatiorts frtrr usè of Church premises
Fete5. bazaar5, Other fijnd-raising events
44.135
5.611
49,746
44,135
5,611
49,746
21cl
Income from charitable and andllarytradSng=
Area Dean Income
PCG fvneral and wedding fees
833
6.634
7,467
833
6,634
7,467
21dl
Income from Investments:
Bank Interest
455
455
TOTAL INCOME
217fi55
30.758
24&413
13

Thorley Parochial Church Council
Annual Report and Accounts for the year ended
31st December 2023
Expendlture
Totsl Trjnds
2023
Funds
Funds
2022
other8￿ing
Outreach
5.891
1.6(Xl
7,491
1.425
7,316
3,580
6,096
9.676
1,425
8.916
Ministry. dI0￿san quota
Clergy expenses
Minstry.. curate e¥r*n
Upkeep of Chufch Services
Llghthouse kids youth groups & fdbwshipgroups
Cost of the music fellNshlp
Rectoryand Parish House repal
Parish House- loan interest
Church ntnnln8 expenses and repalrs
St Barnabas Centre running expeoses
Emmau5 Centre running exp*nses
Thorleychristian Centre runnlngexpenses&
repalrs
Jpport cost$ 3ldl
93,389
4,256
1.431
2,369
1.099
93,389
4,256
1.431
2,369
1,099
92.604
3,932
2,051
940
iio
17
5.384
19.082
3,748
5,362
iio
17
5,630
19.082
3.748
5.362
ioi
52
17.106
17.263
4,119
6,352
246
69.275
5,247
74.522
65.789
205.522
5.247
246
211,015
211.189
Lkrais
Costs offetesand 0therfvnd-raslng￿nts
2.122
2.122
2.139
2.139
4,261
4,261
1,967
1,967
TOTAL EXPENDMJRE
215.135
5.247
3,810
224,192
2ZZ,832
31dl
Staff costs (Note41
Administr?￿n and Office $upt4ies
countsnry
Webslts MaIn￿nan
Telephone and MtsTrllarEous
Depreciation
46.737
6,365
46,737
6.365
2,844
1,055
3.249
14,272
74,522
44,369
9.558
2,220
807
4.812
4,023
65,789
1.055
3.249
9,025
69.275
5,247
5,247
14

Thorley Parochial Church Council
Annual Report and Accounts for the year ended
31rt December 2023
3 2022 ExPL￿dItUre Comparatlve
Totsl Funds
2021
Fund5
Fund5
31al
othergi￿ng
treach
3.580
6,096
9,676
4.3C•J
1,796
5.336
31bl
Charftableactlvitie5
Mini5ty'. di￿esan quoi
Oew exkkn
Mini5try-. curate expenses
Upkeep of Church ServKe5
ghthouse kids. youth groups &felkwshipgrwp5
C05t of the mu&cfellowship
Rectory and Parsh House ￿paIrS
Parish House-loaD interest
Church runnlng exFenses and repairs
51 Barnabas ￿tre runningexper
Emmaus Centre Nnningexwnses
TIN)dey Chrtsfjan Centre nJnnln8 exr*rtses & repalr5
Jpwrt Costs 3ldl
91(4)4
3.932
92.604
3.932
I051
2.051
ioi
52
17,1(
17,263
4.119
6,352
65.789
52
8.022
17.263
4,119
6352
2.125
2Q).792
10.397
211.189
F n&rai5i
Costs offetes Otherfund-ral￿ng events
1,967
TOTAL EXPENDMJRE
206￿1$
16.317
22U32
31d)
Stsff costs (Note 41
Administration and oFFteSUPF4les
Accountsncy
Website malntenarKe
Tèlephone and Miscellaneous
Depreciation
44369
9.558
1220
44,369
9.558
2.220
807
4.812
4.023
65.789
4.365
1345
447
1.678
2.125
Staff Costs
Unrestrkted Re5trfaed Total fvnd5 Totsl Fund5
Funds
Funds
2023
2022
Wa6e5 and ￿laries
Pe￿On costs
46.016
721
46,n7
46,016
721
46,737
43.666
703
44,369
During the year the charity employed an overage of 3 employees12022- 3).
No employees received total employee benefits in excess of £60.CIXI12022- Nill.
The PCC considers its key management personnel to comprise the Rector. Churchwardens and appointed officials
(see page 11. No key management personnel received remuneration nor benefits in the year12022- Nil).

Thorley Parochial Church Council
Annual Report and Accounts for the year ended
31st December 2023
S Fixed Assets
TanBlblelIx￿ assets
2023
Fre•hoJd Ignd and Propwtyowr￿d by PCC
The St Barnabas Centre
The Ernmaus Cent
The Th(xley Christian Centre 110% PCC interest?
7 Elmbrook Drive115.1)4% PCC interest)
1.989,927
478,335
49,748
58957
2.576367
1.989,927
478.335
49.748
58.9S7
2.576.967
Desl8natÈd Funds
1576967
Z576.96Y
xture5. ￿ttIng5 & Eq￿pmentIutirnrt￿
C05t broL¥htfO￿8rd
Athlit￿ns
19.423
25y3
13.077
Cost carrfed forward
45,366
19.423
AccumuLated deF*eciaiiM tfftJ8htfwiard
Depreciatlon charge forthe year
Depreclatlon ellminated on
Accumulated depreclatron (arried forward
7.243
14.2n
3,219
4,024
2L515
7.243
Net bookyalue broLWrtfDfvdrd
Net bookvalue carried forward
12.
23￿51
3,127
12,180
2589.147
The PCC owns two freehold buildings. the St Bamabas Centre and the Emmaus Centre both in Church Lane,
Thorley. The Diocese owns the Thorley Christian Centre. Ificerons Pla￿. Thorley Park. but would give IO% of the
net proceeds of any sale to St James. The Parish House 15 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 l 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.(KM) for the year ended 31
December 2015. meaning that the PCCS share of the valuation increased.
6 Investments
2023
2022
At l January
Gainlllossl on value ol investments
At 310ecember
9,365
9,365
10353
9,365
Thi5 investment relate5 to the Patten Bequest endowment held by the St Alban5 Diocesan Board of Finance.
16

Thorley Parochial Church Council
Annual Report and Accounts forthe year ended
315t December 2023
7 Debtors
2023
2022
Accounts receivable
Income tax recoverable
Prepayments and accrued income
215
6,575
3,6
12,760
IOA50
20,249
8 Liabilities: Amounts Falling Due Wlthln One Year
2023
2022
DBFIVacancy LiabllTty
Deposits held
Accrued expenses
Creditors for8oods and servlces
Wedding fee / Funeral fee di5bur5ements
Tax and National Insuran
Dlottsan loan ￿ 7 Elmbrook Drfve (see note 9)
530
351
2,520
3,220
522
351
4,723
342
663
9,651
9 Uabllttles.. Amounts Falling Due After More Than One Year
2022
Di0￿$an loan re 7 Hmbrook Drivè
4,OC4)
4,OC#)
The loan Is In relation to the Partsh House. £3.[￿ is payable annually to the Di0￿Se of St Ajbans. In 2022
the figu￿ was reduced by rent received.
17

Thorley Parochial Church Council
Annual Report and Accounts for the year ended
31st December 2023
10 Movement on Funds
E¥pendIty￿ Galnsl
Ihissesl
Trar*fers
A131
December
2Q23
Jarwary
Unre5tri¢ted funds..
General unde5ignated
Designated
Rwaluation res￿￿
75,443
2,500.026
104,941
2.680.410
216J)5
215.135
5,247
7.tXJO
8.742
84,1
I￿03,521
104.941
2 692,575
216,805
220,382
15,742
Re5trlcted fund5-
Church yard
eallng on the streets
Grnving leaders
Parish events
Church boiler
Other
Cial colknlts)s
F05J church repairfund
Listed P￿CeS of wotship 8rdnt sthen
8eveHey Cheeseman worship fund
Barn IT fund
Phase511 and111 technology
5triaty Stortford
Bell Tower Fund
MaThillan Care
Chlldren andY0￿h grant
Othergrant
Kltchen fund
246
246
620
314
796
16
637
2,154
411
450
11,9921
13.750
113.7501
L285
4,143
917
6.212
25.286
617
6.212
,641
6.9)7
3.810
15.742
Endowment
9.36S
10353
Totsl funds
2.?15A￿l
223.712
224.192
2,715.569

Thorley Parochial Church Council
Annual Report and Accounts for the year ended
31st December 2023
Movement on Funds comparatlve
At l January
2022
Expndlture Trdnsfevs At 31 December
2022
Un￿striCted fund5:
Generdl undeslgnated
Designated
Revaluatlon reserve
76.553
2,487.716
104.941
2.669,270
207,655
10,0
206515
(2.250}
2.250
75,443
1500,026
104.941
1680.410
217.655
2(￿515
Restrfeted fvnds..
Church yard
Healing on the streets
Growing lèadèrs
Parish events
Church boiler
Other
Special collections
FOSJ church repairfund
Listed places of worship 8rant stheme
Bevedey Cheeseman worship fvrKI
Barn ITfund
Phases11 and111 technOl￿fUnd
Strictly StortFord
Bell Tower Fund
Maunillan Ca
Children and youth grant
Qthergrant
Kltthen fvnd
150
314
314
872
617
14.C¥xJI
3,144
4,169
3,144
8.169
2.lJ35
L679
450
1485
1,679
13,750
13,750
L435
150
L285
250
250
583
917
6.21Z
25.286
6.212
10.845
30,758
16317
Endowment
9.365
9.365
Totsl lunds
1689M) W13 221832
2.715.061
General unrestrirted furKI- The general unrestricted fund is used for PCC ordinary purp05e5.
DesSEnated fitnd-The designated funds comprise Freehold land and property. net of loans, the designated property
repair ￿nd £25.OCKJ12022.. £25,OWI and an allowance to cover futurÈ planned deficits which wa5 released in the
year £nil12022: £10,0001- This year an additional fund has been created for r￿ed assets acquired using restricted
funds of £15,742. against which depreciation of £5.247 has been charged gMnE a balance on the fund of £10.495.
Restrlrted fvnd - The restricted fund5 represent donations or grants receNed for a specrfic object or Invf(ed by the
PCC for a specific object. The fund5 may onty 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 the year, funds amounting to £13,750 were paid out of the technology fund using up the complete balance in
cash terms. In addition, funds arnounting to £l.992 We￿ paid out of the Beverley Cheeseman fund. However. in
accordance with standard accounting procedure. these balances have been transferred to LJnre5tritted fijnds and
included in deslgnated fund5. as above, with depreciation charged in designated fund5 accordin81v.
Revaluation reserve- The revaluatton reserve ￿ in relation to the property valuation undertaken on transition to
FRSIO2.
Endowment fund- The endowment fund represents the Patten Bequest and provides an incorne to be used for
the upkeep of the Church which is shown as restrirted. The fund value is enhanced in the year by the increase in
the value of the investments held by the Diocese.

Thorley Parochial Church Council
Annual Report and Accounts for the year ended
31st December 2023
11 Analysis of Net Assets by Fund
Endowmènt Unrestri¢tsd D￿gnated Revaluatlon
Fun&
Funds
Fun¢ts
Restrirted
Funds
Total
Flxed Assets
Investments
Net Current A55ets
Long Term knabilitie5
Fund balance
13.356
2,482521
104.941
1600,818
10.353
108.398
10.353
70.757
25.C
14.ClJ)I
2￿03521
12.641
10.353
84.iu
4,941
641
1715,569
Analysls of Net Assets by Fund (cofflparative)
Totsl
Funds
Funds
nds
Funds
Fixed A55ets
Investments
Net Current Assets
Long Term Liabilities
Fund balance
12,180
2.472,026
104.941
I589,147
9,365
123.549
17.000
1715.061
9,365
63,263
35.(
17,CKJ)I
15(X>.026
25.286
9365
75.443
104,941
12 Independent Examlnatlon Fees
Accountancy expenditure indudes £2.520fee5 paid to the Independent Examiners for carying outthe Independent
Examination12022 - £2,034).
13 Trustees Remuneratlon and Expenses
The trustees neither received nor wafved any remuneratM)n or benefits during the year12022 - £Nill.
During the year 2 trustees12022- 2 trustees) had the following expenses paid for by the chartty..
Travel
Traintng
Intemet and communications
Other costs
3,012
331
1,029
1.315
2,666
705
938
503
4.812
14 Related Party Trdnsactions
There were no related party transartions in the year12022- Nill.
20

Thodey Parochial Church Council
Annual Report and Accounts for the year ended
31st December 2023
Independent Examlner's Report to the Trustees of The Parothlal Church Counal of St. James The Great
Thorley.
I report on the accounts of the charity for the year ended 31 December 2023 which are set out on pages
8t020.
Res onsibilities and basis of re
As the charit¢s trustees you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 20111'the ACYI.
I report in respect of my examination of the charitrfs 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(51(b) of the Act.
Inde
endent examiner's statement
I have completed my examination. I confimi that no material matters have come to my attention in
connection with the examination giving me cause to believethat in any material respect:
accounting records were not kept in respett of the charity a5 required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not cornply with the applicable requirements concerning the fom 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 Vie￿ 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 orderto enable a proper understanding of the accounts to
be reached.
Suzanne Goldsmith FCA
Price Bailey LLP
Causeway House
l Dane Street
Bishops Stortford
Hertfordshire
CM23 3BT
Date: l May 2024
21