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← The Parochial Church Council Of The Ecclesiastical Parish Of Holy Trinity, Tewkesbury

2023-12-31-accounts

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The Parochial Church Council of Holy Trinity Tewkesbury

Annual Report and Accounts Year ended 31 December 2023

THE CHURCH OF ENGLAND

______

DIOCESE OF GLOUCESTER

Registered Charity 1130775

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The Parochial Church Council of Holy Trinity Tewkesbury

Annual Report and Accounts Year ended 31 December 2023

INDEX

ANNUAL REPORT FOR HOLY TRINITY TEWKESBURY FOR THE YEAR ENDED 31 DECEMBER 2023

Aim and purposes

Holy Trinity Parochial Church Council (PCC) has the responsibility of co‐operating with the incumbent, the Reverend Stephen Walker, in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical.

Objective and Activities

The PCC is committed to enabling as many people as possible to worship at our Church and to become part of our worshipping community. The PCC maintains an overview of worship throughout the parish and makes suggestions on how our services can involve the diverse community in which we live. Our services and acts of worship put faith into practice through prayer and scripture, music and sacrament.

When planning our activities for the year, the incumbent and the PCC have considered the Charity Commission’s guidance on public benefit and in particular, the specific guidance on charities for the advancement of religion. We try to enable ordinary people to live out their faith as part of our parish community through:

Worship and prayer: learning about the gospel and developing their knowledge and trust in Jesus. Provision of pastoral care for people living in the parish. Missionary and outreach work.

To facilitate this, it is important that we maintain the fabric of the Church of Holy Trinity.

Achievements and Performance

Worship and Prayer

The year started, as usual, with a week of prayer. As a Church community we recognise the necessity to lay strong foundations in prayer at the start of each year. Our monthly ‘Prayer for Revival’ gatherings on the first Sunday evening of each month, reflect an aspiration for the spiritual transformation of our community and beyond. The Week of Prayer for Christian Unity brings all the churches together across the town to worship and share fellowship. Though we meet in separate spaces Sunday by Sunday we are all one church working together to see the Kingdom of God bringing hope to the people of this town.

Sunday and mid-week gatherings for worship which are open and accessible to all continued as per the regular pattern set up the previous year. Our fortnightly evening services (called ‘Encounter’) provide a space for more informal worship without the constraint of time that always accompanies our morning services.

‘Encounter’ is also an opportunity to develop the gifts of others as well as our young people by encouraging them to experience public speaking (delivering sermons), leading the service and participating in the worship group. In this way we hope to provide opportunities for members of our congregation to explore their gifts as well as encouraging the potential for future church leaders amongst our young people.

It also provides opportunity for those involved in serving in TJC (Trinity Junior Church) or the youth ministry in the morning to find a space for spiritual refreshment for themselves.

Services of worship also take place in the community in residential homes, the day centre and local hospital, particularly around Christmas, Easter and Harvest, facilitated by a team who extend the ministry of the church in this way.

All are welcome to attend our regular 10am services or twice monthly evening services. At present there are 236 on the electoral roll.

1

ANNUAL REPORT FOR HOLY TRINITY TEWKESBURY FOR THE YEAR ENDED 31 DECEMBER 2023

Deanery Synod

We now have 4 representatives of the PCC. This provides the PCC with an important link between the parish and the wider structures of the Church of England. The work of the Deanery reflects the ‘Life’ vision of the Diocese and informs the agenda so that the focus of ministry across the churches complies with the direction of travel led by our Diocesan Bishop, Bishop Rachel.

The outworking of this comes from John 10:10, ‘I have come that they may have LIFE and have it to the full’.

With a new interim Area Dean in post, Deanery Synod met on 2 occasions over the year to conduct its business. Following a couple of years in which the majority of clergy across the Deanery had either retired or moved onto new parishes we were able to welcome three new Incumbents:

In January, Rev Tim Garrett became Vicar of St Michael and All Angels, Bishops Cleeve In March, Rev David Penny to St Peter’s, Winchcombe

In September, Rev Nick Davies to Tewkesbury Abbey

Still to be appointed are a Team Vicar for Bishops Cleeve, an Associate Vicar for Tewkesbury Abbey and a Vicar for the parish of Ashchurch with Kemerton which would then bring us up to full strength in the Deanery for clergy.

At the second meeting of the Deanery Synod the new Incumbents were welcomed and invited to share their stories of coming to faith and their call to ordained ministry. This was the most interesting part of the meeting given the diversity of spirituality and background of each individual.

The focus of the Deanery continues to be on implementing the Strategic plan for sustainable ministry into the future.

Pastoral Care

Pastoral care expresses the love of God to those in our fellowship and in the wider community. This largely happens through the friendships grown in our small group network but also through our contacts with the wider community. Our pastoral prayer support coordinator has provided a helpful means of communication to enable information of particular needs to be shared (with the individuals’ consent) for the benefit of prayer and practical support. This has strengthened our ability to be aware of particular needs and demonstrate care as best we can or signpost individuals to professional support.

Pastoral care for young families

‘Smarties’, our parent and toddler weekly activity provides a regular connection with young families in the community. Such is the good reputation of this ministry that Health Visitors are happy to recommend it as a place where young parents or carers can access friendship, community and support.

With the cost of living crisis still having an impact the ministry of the Welcome Table (a warm space and free hot meal) for anyone in the community who desire it, has continued to be a helpful support to individuals and families.

2

ANNUAL REPORT FOR HOLY TRINITY TEWKESBURY FOR THE YEAR ENDED 31 DECEMBER 2023

Mission and outreach

The Mission of the church to reach out with the good news of Jesus Christ and the love of God has continued through our support for one another in our community.

The Outlook services have continued providing an opportunity for worship at festival times (Harvest, Easter and Christmas) in residential homes, the local hospital and day care centre. We are grateful to those members of our church who have contributed so much to this outward expression of ministry not just in Tewkesbury but by leading services in churches further afield.

Members of our church community continued to reach out through their voluntary support offered to various local charities, in particular, the work of the Tewkesbury Foodbank and Cheltenham Street Pastors.

Schools Work

The PCC employed Lucy Betts as a part time Children’s and Family Worker and Sam Williams as a part time Youth Pastor. This enables the church to have the capacity to be involved in local schools in a supportive role. This involvement has continued this year with input to school assemblies, Christian Union groups and lunch time activities. Church members contribute as part of ‘Open the Book’ teams taking assemblies in different Primary Schools as well serving as school governors. Holy Trinity has hosted school Harvest and Christmas celebrations as well as providing the opportunity for school visits to the Experience Easter and Experience Christmas interactive experience.

In March Holy Trinity partnered with the local Church of England Primary School to resource an IsingPOP event culminating in two concerts in the church attended by parents and families. All these opportunities demonstrate the involvement of the church in the local community.

Mission

The PCC have committed 10% of our unrestricted voluntary income (gross) to support Mission. Our primary commitment is to our Mission Partners serving in a variety of contexts in the UK and overseas:

Our support for those who serve overseas acts as an important expression of our desire to be a ‘Local Church with a Global Concern’ and the links we have established through the Life groups will maintain their high profile in our church prayer agenda.

As well as our Mission Partners the PCC has also provided support to the following ministries:

3

ANNUAL REPORT FOR HOLY TRINITY TEWKESBURY FOR THE YEAR ENDED 31 DECEMBER 2023

Financial Review

Total income for the year was £209,019 (2022: £223,339) and total expenditure £240,661 (2022: £238,373).

The balance on the general fund decreased to £75,689 (2022: £94,557). In addition to cash-based assets, the church owns Trinity House (the church office) and The Old Mission Hall along with various items of plant, equipment and furniture; these assets make up the fixed asset total on the Balance Sheet of £255,545 (2022: £267,685).

Reserves policy

The policy of the PCC is to aim to keep a minimum of three months’ expenditure on reserve. The PCC is thankful that it is possible again to observe this policy.

Volunteers

We would like to thank all the many volunteers who work so hard to make our church the lively and vibrant community that it is. In particular, we would like to thank our churchwardens, Mr Steve Burden and Mrs Geraldine Simpkins who have worked so tirelessly on our behalf and Mr Simon Holdsworth as the church treasurer (succeeded by Mr Philip Loveridge from April 23) supported by the finance team. We would like to express our appreciation as well to our leadership team who have provided so much support and shared leadership over the year. In June we welcomed our first ever Curate to Holy Trinity, Rev Simon Phillips following his ordination at Gloucester Cathedral.

The church can only function with the support of its members, so many of whom give willingly of their time and energy. Therefore, it is appropriate to express appreciation to the whole church membership as well as the PCC and administrative officers, staff team and leadership team and Life group leaders for all they give in so many ways to contribute to the life of Holy Trinity.

Structure, governance and management

The method of appointment of PCC members is set out in the Church Representation Rules. At Holy Trinity, the membership of the PCC consists of the incumbent (Vicar), churchwardens, readers and members elected by those members of the congregation who are on the electoral roll of the church. All those who attend our services and consider themselves to be members of our congregation are encouraged to register on the Electoral Roll and stand for election to the PCC.

The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent.

The PCC met six times during the year, every other month, with an additional extraordinary meeting to discuss specifically how we might respond to the discussions taking place at General Synod regarding the provision of ‘Prayers of Love and Faith’ for same sex couples. The outcome of that meeting was made available to all through the publication of the minutes on the church website. An average level of attendance of about 80% was achieved at each meeting. Sub committees/Teams: Staffing and the Standing committee (6 times) have also met throughout the year, reporting back to the full PCC at each meeting for further discussion. Representatives of the various Synods also report back following meetings they attend.

The PCC has employed part time staff to assist in the ministry of the church: Mrs Sam Williams (Youth Pastor), Mrs Lucy Betts (Children’s and Families Worker) and Mrs Helen Hart (Administrator).

4

ANNUAL REPORT FOR HOLY TRINITY TEWKESBURY FOR THE YEAR ENDED 31 DECEMBER 2023

Administrative information

The Parochial Church Council of the Ecclesiastical Parish of Holy Trinity, Tewkesbury, known as Holy Trinity Tewkesbury, is located in the middle of Tewkesbury by the market car park. It is part of the Diocese of Gloucester within the Church of England. The correspondence address is:

Holy Trinity Tewkesbury, Church Office, 10 Oldbury Road, Tewkesbury, GL20 5NA

The PCC is a body corporate (PCC Powers Measure 1956, Church Representation Rules 2011) and a Charity registered with the Charity Commission (Registration number: 1130775).

5

ANNUAL REPORT FOR HOLY TRINITY TEWKESBURY FOR THE YEAR ENDED 31 DECEMBER 2023

Members who have served from 1[st] January 2023 until this report was approved are:

Ex Officio members Incumbent: The Reverend Stephen Walker Chairman Curate: The Reverend Simon Phillips (from June 2023) Reader: Mrs Jo Davies Wardens: Mr Steve Burden Church Warden Mrs Geraldine Simpkins Church Warden Officers: Mr Simon Holdsworth Treasurer (resigned April 2023) Mr Philip Loveridge Treasurer (Co-opted April 2023) Mrs Liz Walker Secretary Elected members: Mrs Alison Cirel (From April 2023) Mrs Lesley Rogers (From April 2023) Mrs Sue Thatcher (GDPR Rep) Mrs Andrea Duncan (Mission and Evangelism Rep) Mrs Louise Woodward (resigned April 2023) Mr Julian Dickinson Mr John Haughan Mr David Rogers (resigned April 2023) Mrs Sarah Hellewell (resigned December 2023) Mr Isaac Davies Mr Duncan de Gruchy (Safeguarding Rep) Deanery Synod Canon Nigel Chetwood (from April 2023) Representatives: Mr Allen Snow (resigned April 2023) Mr Ian Hart (from April 2023) Mr Martin Edgley (from September 2023) Mr David Greenwood

Bankers

NatWest PLC Cheltenham Branch 31 Promenade Cheltenham GL50 1LH

Independent Examiner

M Adlard ACIE Pippins Accountancy Services The Pippins Gambles Lane Woodmancote Cheltenham GL52 9PU

6

ANNUAL REPORT FOR HOLY TRINITY TEWKESBURY FOR THE YEAR ENDED 31 DECEMBER 2023

Statement of Council members’ responsibilities

Charity law requires the council members to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Parochial Church Council at the year end and of its incoming resources and resources expended during that year. In preparing those financial statements, the Council members are required to:

The Council members are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Parochial Church Council and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Parochial Church Council and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Annual Report and Accounts were approved by the PCC subject to examination and signed on its behalf by:

Reverend Stephen Walker (Chairman) 4 March 2024

7

Independent Examiner's report to the Council members on the unaudited financial statements of the Parochial Church Council of Holy Trinity, Tewkesbury

I report on the financial statements of The Parochial Church Council of Holy Trinity, Tewkesbury for the year ended 31 December 2023 which comprise the statement of financial activities, the balance sheet and the related notes. These financial statements have been prepared under the historical cost convention and the accounting policies set out therein.

Respective responsibilities of trustees and examiner

The Council members are responsible for the preparation of the accounts. The Council members consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to:

Basis of Independent Examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Parochial Church Council and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Council members concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.

Independent Examiner’s statement

In connection with my examination, no matter has come to my attention:

M Adlard ACIE Pippins Accountancy Services The Pippins Gambles Lane Woodmancote Cheltenham GL52 9PU Date: 4 March 2024

8

THE PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY TEWKESBURY STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2023

NOTES
INCOME FROM:
Income from generated funds
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investments
TOTAL INCOME
EXPENDITURE FROM:
Charitable activities
5
TOTAL EXPENDITURE
Net operating income/ (expenditure)
Transfer between funds
10
Net income for the year and net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
Total funds carried forward
11		 GENERAL
DESIGNATED
RESTRICTED
FUND
FUNDS
FUNDS
£
£
£
190,168
-
3,883
7,718
-
884
2,838
-
-
3,528
204,252
-
4,767
204,020
31,540
5,101
204,020
31,540
5,101
232
(31,540)
(334)
(19,100)
19,100
-
(18,868)
(12,440)
(334)
94,557
287,085
5,674
75,689
274,645
5,340		 2023
2022
£
£
194,051
196,946
8,602
21,370
2,838
4,461
3,528
562
209,019
223,339
240,661
238,373
-
240,661
238,373
(31,642)
(15,034)
-
-
(31,642)
(15,034)
387,316
402,350
355,674
387,316

The notes at pages 11 to 17 form part of these financial statements. The allocation between funds for 2022 is shown in note 15.

9

THE PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY TEWKESBURY YEAR ENDED 31 DECEMBER 2023

NOTES
FIXED ASSETS
Tangible fixed assets
7
CURRENT ASSETS
Deposit - CCLA Investment Management
Current account - Natwest
Petty cash
Cash at bank and in hand
Debtors
8
LIABILITIES
Creditors - amounts falling due in one year
9
NET CURRENT ASSETS
TOTAL NET ASSETS
THE FUNDS OF THE CHARITY
Unrestricted funds - General
Unrestricted funds - Designated
12
Restricted funds
13
14		 2023
£
255,545
255,545
80,000
23,711
21
103,732
3,095
106,827
(6,698)
100,129
355,674
75,689
274,645
5,340
355,674		 2022
£
267,685
267,685
80,000
39,089
26
119,115
3,242
122,357
(2,726)
119,631
387,316
94,557
287,085
5,674
387,316

Approved by the Parochial Church Council on 4 March 2024 and signed on its behalf by

P J Loveridge Treasurer

10

THE PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY TEWKESBURY

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023

1. Accounting Policies

Basis of financial statements

The financial statements have been prepared under the Church Accounting Regulations 2006 and the Charities Act 2011 in accordance with applicable accounting standards and the current Statement of Recognised Practice for Accounting and Reporting by Charities (SORP 2015 / FRS 102) and on the basis that the charity is a Public Benefit Entity.

The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the financial statements of church groups that owe their main affiliation to another body nor those that are informal gatherings of church members. The financial statements have been prepared under the historical cost convention and on a Going Concern basis. The presentation currency is £ Sterling.

The principal accounting policies adopted in the preparation of the financial statements are as follows:

Funds

General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the church for specific purposes. The cost of raising and administering such funds is charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Income and endowments

Voluntary income is received by way of donations and gifts and is included in full in the Statements of Financial Activities when receivable. Gifts donated for resale are included as income when they are sold. Donated assets are included at the value to the PCC where this can be quantified and a third party is bearing the cost. The value of services provided by volunteers is not quantified.

Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under Gift Aid is recognised only when received. Income Tax recoverable on Gift Aid donations is recognised when the income is recognised. Grants and legacies to the PCC are accounted for when an inflow of economic benefit is probable.

Rental income from the letting of church premises is recognised when the rental is due. Interest is accounted for when receivable.

The PCC is not registered for VAT.

For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity, however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.

11

THE PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY TEWKESBURY

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023

1. Accounting Policies (continued)

Expenditure

All expenditure is included on an accruals basis and is recognised when an outflow of economic benefit is probable.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

Fixed assets

Consecrated and beneficed property of any kind is excluded from the financial statements by S10(2) of the Charities Act 2011.

Moveable church furnishings held by the Vicar and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted for as inalienable property unless consecrated. They are listed in the church’s inventory which can be inspected at any reasonable time. For inalienable property acquired prior to 1999 there is insufficient cost information available and therefore such assets are not included in the financial statements. There were no acquisitions of inalienable property in this financial year.

Depreciation of the cost of equipment and refurbishment is charged on a 20% straight line basis. Freehold property is depreciated using the straight line method using a rate of 1%. These rates are calculated to write off the assets over their useful economic lives. Assets costing more than £1000 are capitalised.

Pensions

The PCC makes contributions for the benefit of employees to a multi-employer defined contribution scheme.

Investments

Fixed asset investments, if any, are stated at market value.

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The title of the lease remains with the lessor.

Financial instruments

The PCC only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognized at transaction value and subsequently measured at their settlement value.

Going concern

There are no material uncertainties that may cast significant doubt on the PCC’s ability to continue as a going concern.

12

THE PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY TEWKESBURY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023

2. DONATIONS AND LEGACIES
Planned giving and Tax Trail
Non Tax Trail
Income Tax refunded
Collections
Other donations
Grants
Legacies
3. INCOME FROM CHARITABLE ACTIVITIES
Church activities and conferences
Fees		 GENERAL
DESIGNATED
RESTRICTED
FUND
FUNDS
FUNDS
£
£
£
127,316
-
1,500
18,394
-
190
33,220
-
375
9,349
-
818
560
-
-
1,329
-
1,000
-
-
-
190,168
-
3,883
6,316
-
884
1,402
-
-
7,718
-
884		 TOTAL
TOTAL
2023
2022
£
£
128,816
139,804
18,584
7,194
33,595
35,972
10,167
7,274
560
202
2,329
1,500
-
5,000
194,051
196,946
7,200
20,757
1,402
613
8,602
21,370

Income from "Church activities and conferences" varies widely from one year to the next depending on whether a "Church weekend away" has taken place, normally every other year. See also "Church fellowship activities" under Note 5b. From time to time the PCC receives funds raised by groups or individuals within the church and passes this money on to causes designated by the organisers. As these not considered to be activities of the PCC, the money is not included in these accounts.

4. OTHER TRADING ACTIVITIES
Hall rents
Other income
5. CHARITABLE ACTIVITIES
a. GRANTS AND DONATIONS
Families in Need
Home Mission
Overseas Mission
Other donations
b. COSTS OF CHURCH ACTIVITIES
Ministry - Parish Share
- Clergy expenses
Utilities
Cleaning contract
Church Maintenance
Staff costs (see note 6)
Children & Youth Work
Music
Insurance
Outreach and services
Training and recruitment
Church fellowship activities
Depreciation
c. CHURCH ADMINISTRATION
Computer and website costs
Telephone
Printing, postage and stationery
Office sundries
Professional fees
TOTAL - CHARITABLE ACTIVITIES		 2,838
-
-
-
-
-
2,838
-
-
-
-
-
-
950
-
-
18,450
-
-
-
818
-
19,400
818
85,611
-
1,860
-
13,780
-
-
9,934
-
-
9,198
-
-
58,724
-
-
9,490
-
1,352
1,356
-
-
3,347
-
-
2,828
-
2,931
1,157
-
-
368
-
-
-
12,140
-
197,653
12,140
4,283
2,170
-
-
1,219
-
-
1,818
-
-
770
-
-
390
-
-
6,367
-
-
204,020
31,540
5,101		 2,838
4,461
-
-
2,838
4,461
-
-
950
500
18,450
19,100
818
432
20,218
20,032
85,611
85,611
1,860
1,054
13,780
4,219
9,934
6,250
9,198
4,763
58,724
52,934
10,842
10,416
1,356
1,193
3,347
3,068
5,759
3,670
1,157
818
368
16,604
12,140
21,546
214,076
212,146
2,170
2,459
1,219
1,183
1,818
1,588
770
575
390
390
6,367
6,195
240,661
238,373

Professional fees includes the remuneration of the Independent Examiner of £390 (2022 - £390) for the independent examination.

13

THE PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY TEWKESBURY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023

6. STAFF COSTS AND TRUSTEE MATTERS

The average numbers of employees (all part-time) during the year were:

Charitable activities
Administration
Employee costs
Gross salaries
Employers pension contributions
Employers NIC		 2023
2022
2
2
1
1
3
3
£
£
55,805
50,174
2,919
2,760
-
-
58,724
52,934

No employee earned more than £60,000 (2022 - nil).

The aggregate cost to the charity of all employee benefits received by the trustees and other key personnel is £58,724 (2022 - £52.934).

Related party transactions:

No trustee received remuneration in 2023 (2022 - nil).

As with many churches, a significant amount of donations is received from trustees but it would not be in the best interests of the charity to assess the amount. Much giving is anonymous; all giving is treated as confidential.

7. TANGIBLE FIXED ASSETS

Cost or valuation
At 1 January 2023
Additions
Disposals
At 31 December 2023
Depreciation
At 1 January 2023
Additions
Disposals
At 31 December 2023
Net book value 31 December 2023
Net book value 31 December 2022
8. DEBTORS
Income Tax recoverable
Sundry debtors
Prepayments		 Freehold
property
£
283,342
-
-		 Equipment
Total
£
£
162,809
446,151
-
-
-
-
283,342 162,809
446,151
25,712
2,833
-		 152,754
178,466
9,307
12,140
-
-
28,545 162,061
190,606
254,797 -
748
255,545
257,630 10,055
267,685
2023
2022
£
£
859
657
-
206
2,236
2,379
3,095
3,242

14

THE PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY TEWKESBURY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023

9. CREDITORS - AMOUNTS FALLING DUE WITHIN ONE YEAR

9. CREDITORS - AMOUNTS FALLING DUE WITHIN ONE YEAR
Creditors
Accruals and deferred income		 2023
2022
£
£
1,884
1,516
4,814
1,210
6,698
2,726

Included in accruals and deferred income is deferred income of £4324 (2022 - £220) representing monies collected in advance for church activities taking place in the following year.

10. TRANSFERS BETWEEN FUNDS

10. TRANSFERS BETWEEN FUNDS
2023 2022
£ £
Transfer from general fund to Donation fund (equal to 10% of unrestricted
voluntary income in year). 19,100 19,400
Transfer from Cefn Lea Bursary restricted fund to general fund to assist with
fees for the church weekend away. - 1,762

11. TOTAL FUNDS CARRIED FORWARD

Note
General fund
Designated funds
12
Restricted funds
13		 At 1st January
Income
Expenditure
Transfers
At 31 December
2023
2023
£
£
£
£
£
94,557
204,252
(204,020)
(19,100)
75,689
287,085
-
(31,540)
19,100
274,645
5,674
4,767
(5,101)
-
5,340
387,316
209,019
(240,661)
-
355,674
previous year
General fund
Designated funds
Restricted funds		 At 1st January
Income
Expenditure
Transfers
At 31 December
2022
2022
£
£
£
£
£
88,775
218,684
(195,264)
(17,638)
94,557
308,731
-
(41,046)
19,400
287,085
4,844
4,655
(2,063)
(1,762)
5,674
402,350
223,339
(238,373)
-
387,316
12. DESIGNATED FUNDS
Donation fund
Fixed asset fund		 At 1st January
Income
Expenditure
Transfers
At 31 December
2023
2023
£
£
£
£
£
19,400
-
(19,400)
19,100
19,100
267,685
-
(12,140)
-
255,545
287,085
-
(31,540)
19,100
274,645
previous year
Donation fund
Fixed asset fund		 At 1st January
Income
Expenditure
Transfers
At 31 December
2022
2022
£
£
£
£
£
19,500
-
(19,500)
19,400
19,400
289,231
-
(21,546)
-
267,685
308,731
-
(41,046)
19,400
287,085

The Donation fund is primed at the end of each year with a transfer from the general fund equivalent to 10% of the unrestricted voluntary income received in that year. It is used in the following year to fund grants to overseas and home missions, especially to support the church's mission partners.

The Fixed Asset fund mirrors the value of the Fixed Assets in the balance sheet, providing funds for the future depreciation charges relating to those assets.

15

THE PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY TEWKESBURY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023

13. RESTRICTED FUNDS

Garden of Remembrance
Families in Need
Special collections
Cefn Lea Bursary
Youth Events
The Welcome Table		 At 1st January
Income
Expenditure
Transfers At 31 December
2023
2023
£
£
£
£
£
112
-
-
-
112
926
-
-
-
926
-
818
(818)
-
-
-
1,250
-
-
1,250
1,851
884
(1,352)
-
1,383
2,785
1,815
(2,931)
1,669
5,674
4,767
(5,101)
-
5,340
previous year
Garden of Remembrance
Families in Need
Special collections
Cefn Lea Bursary
Youth Events
The Welcome Table		 At 1st January
Income
Expenditure
Transfers At 31 December
2022
2022
£
£
£
£
£
344
-
(232)
-
112
926
-
-
-
926
-
432
(432)
-
-
1,562
200
-
(1,762)
-
2,012
967
(1,128)
-
1,851
-
3,056
(271)
2,785
4,844
4,655
(2,063)
(1,762)
5,674

The Garden of Remembrance fund was set up to provide funds to maintain the Garden of Remembrance. The Families in Need fund (also known as the Blessings fund) exists to provide gifts in cash or kind for people associated with the church in times of particular need.

Special collections are usually held at Christmas services for Embrace the Middle East and The Children's Society, and for other causes at various times.

The Cefn Lea Bursary fund enables church members to pay more than their own fees for the church weekend away for the benefit of other participants. The weekend takes place in alternate years and the next is planned for 2024.

Certain Youth Events such as attendance at Christian festivals and recreational outings are funded by a combination of charges paid by participants and gifts specifically for youth activities. Unspent gifts are retained in the restricted fund. The Welcome Table fund was initiated in 2022 by a grant of £1,500 from a Christian charity for the church to provide meals for needy families and individuals in a warm environment. Further gifts have been received subsequently for the same purpose.

14. ANALYSIS OF NET ASSETS BETWEEN FUNDS

as at 31 December 2023
Fixed assets
Current assets
Current liabilities		 Restricted
General
Designated
£
£
£
-
255,545
-
81,857
19,100
5,870
(6,168)
-
(530)
75,689
274,645
5,340
Unrestricted funds		 Total
£
255,545
106,827
(6,698)
355,674
as at 31 December 2022
Fixed assets
Current assets
Current liabilities		 Restricted
General
Designated
£
£
£
-
267,685
-
97,283
19,400
5,674
(2,726)
-
-
94,557
287,085
5,674
Unrestricted funds		 Total
£
267,685
122,357
(2,726)
387,316

16

THE PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY TEWKESBURY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023

15. PREVIOUS YEAR'S STATEMENT OF FINANCIAL ACTIVITIES SHOWING ALLOCATION BETWEEN GROUPS OF FUNDS
EXTRACT FROM STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 DECEMBER 2022
INCOME FROM:
Income from generated funds
Donations and legacies
Charitable activities
Other trading activities
Investments
TOTAL INCOME
EXPENDITURE FROM:
Charitable activities
TOTAL EXPENDITURE
Net operating income/ (expenditure)
Transfer between funds
Net income for the year and net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
Totalfunds carriedforward		 GENERAL
DESIGNATED
RESTRICTED
FUND
FUNDS
FUNDS
£
£
£
193,258
-
3,688
20,403
-
967
4,461
-
-
562
218,684
-
4,655
195,264
41,046
2,063
195,264
41,046
2,063
23,420
(41,046)
2,592
(17,638)
19,400
(1,762)
5,782
(21,646)
830
88,775
308,731
4,844
94,557
287,085
5,674		 2022
£
196,946
21,370
4,461
562
223,339
238,373
238,373
(15,034)
-
(15,034)
402,350
387,316

16. OBLIGATIONS UNDER OPERATING LEASES

During 2023 the PCC's only annual commitment under a non-cancellable operating lease came to an end and was not renewed. Details are as follows.

Expiry date
Within 1 year
Between 2 - 5 years		 2023
2022
£
£
- 516
- -
-
516

17. CAPITAL COMMITMENTS

The PCC has no capital commitments.

18. CONTINGENT LIABILITIES and POST BALANCE SHEET EVENTS

There are no known contingent liabilities or post balance sheet events.

17