**PCC OF ST PETER'S REDCAR** ## **NOTES TO THE FINANCIAL STATEMENT for the year ending 31st December 2023** |2, INCOMING RESOURCES|Unrestricted|Restricted|Endowment|TOTAL|FUNDS| |---|---|---|---|---|---| ||funds|funds|funds|2023|2022| |2(a) Voluntary Income|||||| |Planned giving - Gift Aided|£21,618|||£21,618|£27,707| |Tax recovered|£7,028|||£7,028|£13,541| |Other|£1,307|||£1,307|£5,614| |Cash Collections|£4,710|||£4,710|£1,984| |Grants & Loans|£2,000|||£2,000|| |Donations|£3,931|||£3,931|£8,148| |Legacies|£17,296|||£17,296|| |2(b) Activities for generating funds|||||| |Fund raising events|£7,239|||£7,239|£1,384| |100 club|£1,147|||£1,147|£1,197| |Bricks|£100|||£100|| |2(c) Income from investments|||||| |Dividends and Interest|£31|£2,202||£2,233|£406| |2(d) Income from Church activities|||||| |Zetland Room hire|£2,533|||£2,533|£1,063| |Fees (including Ministers)|£10,323|||£10,323|£14,960| |Parish Magazine|£108|||£108|£1,073| |Flower fund|£746|||£746|£30| |2(e) Other incoming resources|||||| |Religious activities|£330|||£330|| |Charitable collections|£4,279|||£4,279|£2,078| |Other receipts|£3,089|||£3,089|£68| |Transfer from deposit account|£22,150|||£22,150|| |Insurance claim|||||| |**Total incoming resources**|£109,965|£2,202||£112,167|£79,253| |**RESOURCES EXPENDED**|Unrestricted|Restricted|Endowment|TOTAL|FUNDS| |---|---|---|---|---|---| |||||2023|2022| |3(a) Church activities|||||| |Mission and Charitable giving|£8,459||||| |Tithed giving|||||| |Charitable collections|£1,376|||£1,376|£2,481| |Ministry -Freewill offering|£33,000|||£33,000|£23,250| |Other ministry costs|£3,593|||£3,593|£2,093| |Ministers Fees to Diocese|£7,547|||£7,547|£9,217| |Church running costs|£12,016|||£12,016|£7,224| |Utilities|£18,078|||£18,078|£6,348| |Maintenance|£5,717|||£5,717|£6,375| |Fabric repairs|£12,989|||£12,989|£10,903| |Purchases|£92|||£92|£1,421| |Zetland Room costs|£2,153|||£2,153|£1,671| |Parish Magazine|||||£1,197| |Flower fund|£886|||£886|£260| |Stationery and Literature|£315|||£315|£878| |Youth Work|£415|||£415|£93| |Fund Raising costs|£950|||£950|£390| |Bank Charges|£339|||£339|£288| |4(a) Staffing costs|||||| |Organist Verger Choir|£2,550|||£2,550|£1,420| |Loan Repayments|||||| |Transfer to General Fund Account||£22,150|||| |**Total resources expended**|£110,477|£22,150||£102,017|£75,509| During the year the PCC made payments to the Organist,Verger, Choir and Cleaner No payments were large enough to attract Social Security costs. ## 4(b) Payments to PCC members During the year no payments were made to members of the P C C **PAROCHIAL CHURCH COUNCIL OF ST PETER, REDCAR** ## **STATEMENT OF FINANCIAL ACTIVITIES** For the year ending 31st December 2023 ||Unrestricted|Restricted|Endowment|TOTAL|FUNDS| |---|---|---|---|---|---| |Note|funds|funds|funds|2023|2022| |INCOMING RESOURCES|||||| |Voluntary income 2(a)|£57,891|||£57,891|£56,993| |Activities for generating funds 2(b)|£8,486|||£8,486|£2,581| |Income from investments 2(c)|£31|£2,202||£2,233|£406| |Church activities 2(d)|£13,710|||£13,710|£17,127| |Other incoming resources 2(e)|£7,698|||£7,698|£2,146| |Transfer from deposit account|£22,150||||| |**TOTAL INCOMING RESOURCES**|£109,965|£2,202||£112,167|£79,253| |RESOURCES EXPENDED|||||| |Cost of raising voluntary income|||||| |Fund-raising costs|£950|||£950|£390| |Church activities|£106,976|||£106,976|£67,206| |Governance costs|£2,550|||£2,550|£2,877| |**TOTAL RESOURCES EXPENDED**|£110,477|||£110,477|£70,473| |**NET INCOMING RESOURCES**|||||| |**BEFORE OTHER RECOGNISED**|||||| |**GAINS AND LOSSES**|-£511|£2,202||£1,691|£8,779| |Transfers to other funds||£22,150|||| |**NET MOVEMENT IN FUNDS**|-£511|-£19,948||-£20,459|£3,338| |Balances b/fwd 1st January 2023|£15,737|£72,562||£88,299|£85,831| |Balances c/fwd 31st December 2023|£15,226|£52,614||£95,515|£88,043| PAROCHIALCHURCH COUNCIL OF STPETER. REOCAR BALANCE SHEEfAT318t DECEMBER 2023 Unrgstrided Restricted Endowment funds fvnds nds TOTAL 2023 FUNDS 2022 Note FIXED ASSETS Tangible Investments 14} CURRENT ASSETS Stock Debtors Short term d8poslts Cash al bank and In hand £15,226 £15,226 £52,614 £52,614 £67,839 £87,839 £89,926 £89,926 UABIUTIES Creditors,. amounts falling due 121 In one year NETCURRENT ASSETS I {L￿BILITIES) È15.226 £52,614 £67.839 £89,926 TOTAL ASSETS LESS CURRENT LIABILITIES £15,226 £52,614 £67,839 £89,383 TOTAL NET ASSETS £15,226 £52,614 £67,839 £89,383 PARISH FUNDS Unrestricted Reslrfcted Endowment £15,226 £1 S,226 £52.614 £10.260 £79,123 131 141 £52,614 £15,226 £52,614 £67,839 £89.383 Approved by the Parochial Church Council on bythe Revd. Andraw GrelfflPCC Chaimianl and signed on its behalf Note. 1. Debtors are monig5 due om HMRC In respgct of GiftAid for Jury￿e¢ember 2023 2. Creditors are monies due to be paid In respectof outstanding bills. 3. Restri¢ted funds comp￿se Hower Guild,Youth work and Charitsble glving. 4. Endowment fund is the John Farmer investhenL ## **PAROCIAL CHURCH COUNCIL OF ST. PETER, REDCAR** NOTES TO THE FINANCIAL STATEMENT For the year ended 31[st] December 2022 ## **1. ACCOUNTING POLICIES** The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the SORP (2005) The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of Church members. ## **Funds** **Endowment funds** are funds, the capital of which must be maintained; only income arising from the investment may be used in accordance with the purpose for which the endowment was established. **Restricted funds** represent donations and grants received for a specific purpose 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. **Unrestricted funds** are general funds which can be used for PCC ordinary purposes. **Incoming resources:** Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate is received. Grants and Legacies are accounted for when the PCC is legally entitled to the amounts due. Dividends are accounted for when receivable, interest is accrued. All other income is recognised when it is receivable. All income resources are accounted for gross. **Resources expended:** 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 is generally recognised when it occurs and is accounted for gross. ## **Fixed assets** Consecrated and benefice property is not included by section 96 (2)(a) of the Charities Act 1993. Moveable church furnishings held by the Vicar and Church wardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed on the Church’s inventory which can be inspected (at any reasonable time). ## **Investments are valued at 31[st] December 2022** Independent ExamIn￿$ Report to the PCC of X Peter Redtar This report on the financial statements of the PCC for the year ended 31 December 2023, which are Set out on pa8es 4 and 5 is in respect of an examination carried out in accordance wkth the Church Accountin8 Regulations 2(K16 and sertion 43 of the Charities Act 1993. RespKtlve respm￿bI1ltSes of the PCC and the Exarnlnor As members of the PCC you a￿ responsible for the preparntlon of the flnanclal statements; you consider that the audlt requlrements of the Regulations and section 43121 of the Act do not apply. It ts my responsibility to issue this report on those financial statements in accordance wlth the terms of the Regulatlons. 8asls of thls report My examlnatlon was carrled out in accordance with the General Directions given by the Charity Commission under section 42{70(b)l of the Art and to be found in the Church guidance, 2CM)6 edltlon. That examlnatlon Indudes a revlew of the accounting records kept by the PCC and a compar150n of the accounts wlth th¢)se records. It also Indudes conslderlng any unusual items or disclosure in the financlal statements and 5eekln8 explanatlons from you as tru5tee5 c(￿cernIng such matters. The procedvres undertaken do not provlde all the evldence that would be required In an audlt and consequentty I do not express an audlt oplnion on the view 8lven by the accounts. Independ•nt Ex•mlnrfs statement In ¢onnertlon wlth my examinatk+n no matter has come to my attentlon: 11) whlch 8lves me reasonable cause to belleve that In any materlal respect the requlrements to keep accountln8 records In accordance wlth sectlon 41 of the kt; and to prepare financlal statements, which accord wlth the accountin8 records and comply wfth the requirements of the Att and the Re8ulations have not been met: or 12) to whlch. In my opSnlon, attentk)n sh￿Id be drawn to enable a proper understanding of the accounts to be reached. (Signed) .kn F.C. Name: Addres5: L¥ Uts" EaL£i441 4" •Z<>i)E i(J l Ls2S