2023-12-31-accounts

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STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31st December 2023 2023 Unrestricted Funds 2022 Unrestricted Funds Restricted Funds Endowment Funds Restricted Funds Endowment Funds TOTAL TOTAL INCOME AND ENDOWMENTS FROM Notes Donations and legacies 2a 66,340 6,600 72,940 74,964 3,059 78,023 Charitable activities 2b 28,053 28.053 22,712 22,712 Other trading activities 2¢ 85,391 320 85,711 83,149 83,149 Investments 2d 12,754 2,625 15,379 6,228 5,765 11,993 Other 2e 377 377 1,632 1,632 Bell Tower Fund Raising 11,448 11,448 Total Income 192,595 20,993 213 588 188,684 8,824 197,508 EXPENDITURE ON Raising funds.. other costs 3b 16,066 2,9)3 18.969 15,021 500 15,521 Ministry expenses 3a 219,586 9,939 229.524 214,847 21,337 236,184 Total Expenditur 235,651 12,842 248,493 229,868 21,837 251,705 Net (Expenditurelllncome before Transfers 143,056) 8,151 34.905 141.184) 113,013) 154,197) Transfers between funds 101

Net (Expenditurelllncome after Transfers 43.056 8,151 27.776 41.184 13.013 54.197 Unrealised gains on investments 1,032 3,091 3,007 7,130 {1.4641 {5,1241 {4,2641 110,852) Net Movement In Funds 142.025) 11.242 3,007 129.712) 142.648) 118,136) {4.264} 165,048) Balances brought forward at 1 Jan 2022 493,880 123,984 31,957 649,821 536,528 142,120 36,221 714,869 Balances carried forward at 31 Dec 2023 451,855 135,226 34,964 622,045 493,880 123,984 31,957 649,821

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NOTES TO THE ACCOUNTS ICONT'DI for the year ended 31 st December 2023 2023 2022 Unrestricte d Funds Restricted Funds TOTAL Unrestricle d Funds Restricted Funds TOTAL STAFF COSTS (Director of Music, and Parish Administration). Included in relevant headings, above Wages & salaries 16,169 16,169 16,883 16,883 Social security costs 35 35 Pension costs Staff training costs Stsff travel & subsistence costs TOTAL 16,178 16,178 16,919 16,919 'During 2022 the PCC employed Parish Administration staff, none of whom eamed more than £60,000. The PCC regard the key management ofthe parish as being the incumbent, who is paid directly by the diocese, together with the two Churchwardens, both of whom are unpaid. The average number of employees during the year was 2023.'2, 2022.'2.25

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7 FUWS 2Q22 orw F rKIg 1 gtme undg Inbestment ar Th8 Bushwchurcl and Churchyard Trust Fund li5 Beque51 IGi8ve TtU5t) 24,J95 1.562 31957 2.295 27,650 13.2551 24,￿5 74 3P)7 221 14,2641 31,*7 55 FM Milclell B8que51 Th8 Bllshe¥Chuicl and church￿rd Till51 Fund 115 Bequ851 (Grave TtU5t) HO￿ Tnn ity-Legecy Fu nd5 Pau15 Legacy Full d5 18me5 Leg8cy Fll nd5 T(wei bell appeal Full d5 Gr8nl Income 32,856 6.9 71 2,642 11.516 1DO 69.840 983 961 313 3.091 36y7 55,424 6,158 2,384 1,333 813 258 32,866 6,971 2,642 11,S76 100 e9,840 11,$7e 100 66,419 5,181 11,44B 2,100 ,993 68,271 3.361 12,9031 2,100 112,8421 3.059 8124 3.059 (21,8371 1￿￿84 3191 136226 142,120 ,1241 123,984 Capital R85eNe Church Fabnc Fu nd 51,205 64.102 282.849 226 f6,41Q 58,000 113,032 291,118 4,548 67,J)6 84,102 282,849 226 2,01B 9,412 155,1541 1.032 J26 147.7921 11.4641 Falconer Hall SBle Floceed5 12.706 3.836 SJ Dep0511 (01 [4,3221 General Fund Iillc par151 d8P05rt and Far￿ IAayl 8g,498 181,104 179, 703 493IW 1W2,696 I2￿,661) 12,480 78,421 461 166 69,229 184,522 116,959 536,628 188,684 r229,8681 12.106 11,4641 493,880 Total F￿dI 649￿￿ 213,688 1248,493) 7,1X S22,Q46 714,869 197,6LW [261,7061 110,8621 649,820 33

Funds Endowment funds comprise monies lo be retained as permanent capital and invested lo generate income. Restricted funds are those where a specific limitation has been placed on the use of the capital or income by the terms of the bequest or donation. Unreslricled funds represent monies to be used at the discretion of the PCC Designated funds represent unreslricled funds set aside for spectfic purposes by the PCC. Details of Parish Funds are as follows:_ Endowment Funds The Bushey Church and Churchyard Trust Fund Monies held for the upkeep of the Churchyard. The capital is invested in CBF Investment Funds. Income is restricted to upkeep of the Churchyard. Monies held for the upkeep of the Ellis Grave. The capital is invested in CBF Investment Funds. Income is restricted to upkeep of the Ellis Grave. Ellis Bequest (Grave Trust) Restricted Funds Miss F M Mitchell Bequest Monies given for the general purposes of St Paul's and invested in CBF Deposit Funds. Income generated is used to cover the rLJnning costs of Sl Paul's. Investment income generated by the Endowment Fund above. Accumulated income is invested in CBF Deposit Funds. Investment income generated by the Endowment Fund above. Accumulated income is invested in CBF Deposit Funds. Monies given for the general purposes of Holy Trinity and invested in CBF Deposit Funds. Income generated is used lo cover the running costs of Holy Trinity Monies given for the general purposes of Sl James -1£68.2711 The Bushey Church and Churchyard Trust Fund Ellis Bequest (Grave Trust) Legacy Joan Fairfield Legacy funds (included in St James Legacy funds) Unrestricted Funds Designated Funds Capitsl Reserve Capital reserves were created to recognise the properties under the control of the Parochial Church Council. The original reserves represent either the net cost or the valuations of the properties. Each year the reserves have been reduced by depreciation. PAGE 34

Church Fabric Fund Monies set aside to provide for the maintenance of the church fabrics. Monies at the year-end are invested in CBF Investment Funds and Deposit Funds. PCC approved for Trinity House proceeds balance to be transferred to the Church Fabric Fund. The Trinity house reserves have been fully withdrawn and the CBF account will be closed. In line with the 2015 results of the Sustainability Review, carried out at the request in March 2015 of the PCC. Falconer H811 was sold early in 2017, because the costs of repair were prohibitive. The sale of Falconer Hall would help us lo= enhance existing youth work at St. James's 'enable greater income genemtion possibilities through the provision of enhanced facilities al St. James's in due course, thus enabling us lo develop St. James's more as a community focus for arts and crafts These represent unreslricled monies at the disposal of the PCC. The SJ Deposit account was recognised in account balances last year but is a reserve deposit for use at St James only. These represent unreslricled monies at the disposal of the PCC and reserves drawn down prior lo use, the remainder is general income earning interest. The funds for the lower bell appeal are held in this account. Falconer Hall Proceeds General Fund SJ Deposit Parish Deposit PAGE 35

NOTES TO THE ACCOUNTS ICONT'DI for the year ended 31st De￿mber 2023 ANALYSIS OF ASSETS AND LIABILITIES BETWEEN FUNDS 2023 2022 Tan Fixed Assets CBF Investment Fund5 Net Current Assets Tan Fixed Asset5 CBF Investment Funds Net TOTAL Funds Current Assets TOTAL Funds Endowment Funds The Bushey Church and Churchyard Trust Fund 26,690 26.690 24,395 24,395 7,562 Ellis Bequest (Grave Trust) 8,274 8,274 7.562 34,964 34.964 31,957 31,957 Restricted Funds Mitch811 Bequest The Bushey Church and Churchyard Trust Fund 35,947 35.947 32,856 32,856 7,932 7,932 6,971 6,971 Ellis Bequest IGrave Trust) Holy Trinity-Lega¢y Funds St Pauls- Legacy Funds st James- Legacy Funds Tower Bell Appeal funds 2,956 2.956 2,642 2,642 11.576 11,576 11,576 100 11,576 100 68,271 68.271 69.840 69,840 8,545 8,545 35,947 87,704 11.576 135.226 32,856 9,613 81,515 123,984 Unrestricted Funds Capital Reserve Chureh Fabric Fund 56.410 56,410 57,205 57,205 11,998 11.998 10,966 53,135 64,102 Falconer H811 proceeds SJ Deposit Parish Deptssivgeneral fund 305,027 305.027 295,555 112,7061 282,849 226 226 77,719 820 118 78.421 72,193 820 16,485 89,498 134,129 305 847 118 451,856 129 398 349 737 3,779 493 880 Total 134,129 82,909 393,551 1,456 622,045 129,398 75,779 3S9,350 85,294 649,821 PAGE36

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