REGISTERED CHARITY NUMBER: 1130813 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR PARISH OF ST MARY'S PORTSEA
PARISH OF ST MARY'S PORTSEA CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2023 Page R8port of the Trusteas 1 to 5 Ind&p8ndent Examinerfs Rèport Statement of Financbal Activities Balance Sheet Notes to the Financial Statements 9 to 19 Detsiled Ststement of Financial Actlvftles 20 to 21
PARISH OF ST MARY'S PORTSEA REPORT OF THE TRUSTEES FOR THE YEAR ENOED 31 DECEPdiBER 2023 trustees present their rep)rt wth the financial statements of the charity for the year 8nd8d 31 December 2023. The InJste@s have adopted the provisions of Accounting and Reporting by Charities.. St*menl of Recommended Pwtice applicable to charibes preparing their accounts in accordance with the Finanaal Reporting Standard applioabie in the UK and Republic of Ireland {FRS 102) (effective 1 January 20191. OBJECTIVES ANO ACTIVITIES Sl Mary's Parod)ial Church Council is responsible for all asp of the day-ltsday management of the Parish, pastoral, spiritual, soci81 and commercial. 11 also has the responsibility for the maintenance and preservation of the fabric of all three church68 and associated properties. i.e. St Mary'5 Churth, Sl Faith's Church, St Wlfrid's Church and Hall. St Mary's Churchyard is leased to the Crty Council. The PCC also supports the Vr and Parish Wardens in the managanent of the Trusts listJ in the Financial Statements. Th@ PCC r8fi8Cted on rts structure post COVID and after conSUation proposed to the Annual Meeting in 2023 a simpliftalion of its govemance structures. There is now a Stansing and Finance CrmItte@ (with representativès of the 2 Churches alongside Wardens, and other Officers). This meets betren PCC meetings to support the Incumbent and Ward8ns in the lead8rship of th8 Parish. There are other ad hoc and start and finish groups whlch address issues such as Social Justice, Young Peopkg and families, Spirituality and ITIComms Poge 1
PARISH OF ST MARY'S PORTSEA REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 ACHIEVEMENT AND PERFORMANCE Church Attendance Electoral Roll: Baptlsms.. Waddlngs.. Funerals: Average Weekly Attendance: Adults Young People Worshipping Community 243 1251 in 20221 131 in 20221 113 In 20221 1132 in 20221 129 172 223 294 1153 in 20221 125 in 20221 1294 in 20221 Review of the Year The aims and objectives of the Council are summarEed in the Parish Vision. These are reviewed annual and form the basis of sethng priorities for the coming year and measuring perfomiance for the past year. The objectives arise from our understanding of the Trinity and seek lo reflect that understanding on h¢)w we sk to serve God and His world, through our individual and corporate lives. The Vision seeks to ensl1 we use our resources lo fulfil these objective8 and include within them both our financial, material and spiritual resources. The Vision is summgrised as-. 'Being with G¢Jd,. Being wth others., Being wrf(h the rest of creation. This will continue lo be developed and refiected in the life of the Parish and the Govemance structures. The Parish Vision is also in line with the Dh)cesan Vision grDIMng our of 'Live, Pray, S8rv8'. 2023 saw a conrtuing return of confidenc8 in people sharing in the life of the church post COVID. However, the fiJll consequences and long terni effects have still lo be fully undersliJod, but from the Church's perspectiv& there has b*n a loss of a generation of young people (particularly from the choir) ar an increasing number of mental health issues affeding all ages Through this per we continued to work with everyone whose lives are touchod through contact with our Churches and the pastoral offices. The importance of our online presence and the regular streaming of servKes continues to ba recognis8d and valued by 811 who access and share in our lrfe throijgh it.we maintained our close cfroperation with the five schools wrthin the Parish, We support&J the work of HIVE Portsmouth and Fratton Big Local in providing volunteers and support to those around u5. The Church continu8d tr) play a lead role in communty Partnerships seeking lo improve the quality of lrfe in the area and the worf( of the k)cal Community Cenlres and oth8r agencies. In Fratton the Church continues to be closely inVoed with th& process of idenlfying how to spand the Big Local lottery grant of £1million over 10 year5 (now in its 9117 yearl. The InGumbenl is the Chair of the Fratton Big Loc21 Partnership. The Fratton Federation, under the leadership of the Incumbent, also continues lo be signfficanl for that community. We also maintain strong links wf(h cNJr neighbouring parish8s in the Central Cluster. There is a need to review and revrtalise these links between us. During the year the Parochial Church Council continued its review of the resources, rt has consldered how $t to use these in furthering the work and witness of the Church in the communfties that it serves. The Parish vision and this review rellect the De8nery Plan and Diocesan davelopmenls. The fomial prO5S for tsndering for the redevelopment of St Vmwrid's building has been laking place and it is hope this will reach a conclusion in 2023. However. delays IA suiveys etc w((h the potential purch8ser means this was not achieved. It shaped to be wmpleted by mid 2024.There is a possibility that this will be by releasing the building lo another Christian community. St Mary's continues to work wfth th8 ArchrteLt on the upkeep of the buildirig. 2023 saw the finals stages of the Organ Project and the establishing of a programme for its legaw. There have been 8 numbèr of assocEated works carrIf out on the building as part of the project. The 2023 Community May afyre was blesseil with the best wèather any could recall - and as a consequence wa8 the most SUGGe5sful btl in temis offinance, visitors and impact on the life cl the local CL)mmunty. Therp continuès lo be work developing ecumenical and interfaith pattr)ershlps. This work involves the Incumbent a5 Chair of HIVE leading the review ol the Inlerfailh Forum. The music department under the lèad8rship of Brian Moles,s8w the choir al St Mary's maintain the high qualty of music in worship and the various recitals associated wvch the Organ ProjeLI saw an inCTeasing number attending,. The accumulated effect of all these ¥tivities has l)een an Onwij growth in Tnember3hy and a maintsining of a high profile within thè l¢)cal communrties and further afield. Page 2
PARISH OF ST MARY'S PORTSEA REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The PCC review the major risks which impact the work of the Church in the parish on a regular basis. Systems have b88n tablished lo mrtigate the 5ignfficant risk5. The major 'risk' currEntly is the building al St Willrid's as this 18 a drain on limited resour 2nd steps have been taken lo secure the elosure and sale of tha building. FINANCIAL REVIEW Financial review The total inco on ordlnary unrestricted ft¢rKls was £184,880 and is detsiled in the Financial Statements. £39,848 wa8 incurred b provide the Christian Ministry from the parish of Sl. Mary, Portsea, which includoj the contribution to the dI8san parish share, which largely provKles the slipend5 and housing for the clergy. The sum that the Churches in thè deanery have lo find is shared belween the ehurches according to a formula thal is based mainty on a head count of congregations and an assessment of rts swio eWn0m $ituation. The net resutt for the year was £108,073 which increased the unrestricted funds brought forward al the beginning of the year of £1.120.587 to £1,228,660 and increased the rastricted from £35,589 to £39,407, The Parish has endowments of £1,050,498. The St. Ma$ Church Portsea Music Foundation mak8s regular reports lo the PCC. Ils work of supporting the choir and organ scholars of the parish church makes an impc4tsnl contribution to the ministry of the Pansh as well as sharing some of the music costs of the parish church. Investment policy and objectiv8S The parish investments are set in note 12 of the notes lo the Financial Statements. The policy of the parish is to invest in funds to maintsin a balance betsween income YaldIng investments and irweslments that provide both income and capital growth. All investments are wrth the Church of England Investment8 Funds or the Charities Official Investment Fund5 as the parish believe these funds have a policy of go prath. a5 re9wds scKial, enwronmental and ethi1 ConSeratIOnS in their investments ReseNes pollcy It is PCC policy lo maintain balances on unrestricted funds {if possible), whiGh wuates to approximately three months unrestricted payments, lo cover emergency situations that may arise from lime lo lime. The balarKes of £138,755 on unrestn.cted and unallocated funds al the year end does not exceed this target. It is our policy to invest funds balances with the CBF Church of England Deposit Fund and CCLA Investment Funds STRUCTURE. GOVERNANCE AND MANAGEMENT The method of appointment of PCC mamb@rs is set in the Church Representstion Rules. All church attendees are encouraged to register on the Electoral Roll and stand for election lo the PCC. On behalf of the Pah181 Church Council Reverend Canon R Whlta Wiur s l James Churchwarden Page 3
PARSSH OF ST MARY'S PORTSEA REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 REFERENCE AND ADMINISTRATIVE DETAILS The Parish of St Mary, Portsea has three churches. Tho parish is part of the Diocese of Portsmoulh within the ChuTch of England. The coffespondence address of the Parish is The Vicarage. Fratton Road, Portsmouth, Hampshire. P015PA. The three churches are situated as follows:_ Sl Mary's Parish Church- Fratton Road, Portsmouth Sl Faith's Mi55ion Church - Crasswell Streel, Portsmouth Sl Wilfrid'8 Mission Church- George Street, Portsmoulh The Parrthial Church Counal {PCCI is a register&1 Charity (No. 1130813). PCC Members who hav8 S8rv8d from 1st January 2022 until the dale this reFQrt was approved are.. InCumnt. Thè Revd. CarM)n Bob Vvhile ASlate Vlcar: The Revd. DT Sam Cullen (until June 2023) The Revd Wendy May Jacd)s {from Sept 20231 Asst Curates: The Revd. Sue Whitelock ISSMI The Revd. Kate Marlow ISSMI The R8vd Rajiv Sidhu Licensed Reader.. Fi Rosen Mandy Hollingsworth Parfsh Wardens: Jacie Fisher (frLxM May 20231 Eugene Organ (Unrtl May 2023) Irene James Trgasuror.. Paul Wrgan Socretary: Mari8 Lambert (until May 20231 Linsey Johnson (ftom Sept 2023) Audrey Barrett (from May 2023} Robert Rymil luntill May 2023> Jason Smith (until May 2023) Deputy Wardens: Graham Basset lunts'l May 20231 Lorraine Drinkwater {unlil May 2023) Deanery Synod: Matt Dixon luntill May 20231 aggie Moles (until May 20231 Irene James Bev Nicholson (from 2023) Eugene Organ Kwania Perac& Binney (from May 20231 Lorraine Drinkwater Dioces Synod Mamber: Matt DKon (from May 2023) Elocted Members: Allson Bamlcott Dawd Hambrook Shelly Leggat Alan Saffery {until May 20231 Bev Ntholson lunlil May 20231 Maggie Moles {frcn May 2023) Stuart Bler S8ndr8 Harrls t)ebbie Oliver Jenny Stemp Cis Delrnege Chris Lavis Shirley Rudder Tunde '111amS Roger Gibbs (until May 20231 Sue Simms Pag8 4
PARISH OF ST MARY'S PORTSEA REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 There were 4 parochial church council mèetings (including the Annual Meètingl during the year upto the Annual Meeting in 2023.. There was an 8verage attendance of 54%. The PCC was assisted in its work by the following staff,. Dlrector of Musl¢: Organist: Parlsh Admin Offltèr. Bookkeeper: Verger- Brian Moles Tracey Dean {Sl Wiifrid'sl Margaret hholes Tracy Vin Rusie Franci5 (St Martys) Approved by order of the board of trustees on 24 July 2024 and signed on behalf by.. Rev canc R Whf(e- Trustee Page 5
INDEPENDENT EK4MINER'S REPORT TO THE TRUSTEES OF PARISH OF ST MARY'S PORTSEA IndeperKlent examinerfs report to the tru5tee5 of Parish of St Mary's Portsoa I report lo the charity InJstee$ on my examination of the accounts of Parish of St Mary's Portsea (the Trust) for the year ended 31 December 2023. Responsibilities and basis of report As the charty trustees of thè Trust you are rèsponst)le for the prep?ralion of the accounts in accordance wh the requirements of the Charrties Act 2011 {Ihe Act,). l Teport in fespect of my examination of the Tfusvs accounts carried out under Section 145 of the Act and in cwing out my 8xamination I hav8 follow8d all applicab18 Directions given by the Charity Commission under Section 14515llbl of the ACL Independent examinerfs statement I have completed my examin*ion. I confimi that material matter8 have come to my attentKJn in wnnection wth the exanmnation gNing me cause to believe th81 in any material respect.. accounting record8 were not kept in respect of the Trust as required by Section 130 of the Ac(. or the accounts do not accord with those records,. OT the Unts do not compty with the applicable requirements eoneerning the fomi and conlenl of accounts set OLrt in the charit8 (Accounts and Reports) Regulations 2008 other than r8quirem8nt that the xcounts give a true and fair view which is not a matter considered a5 part of an independent examination. I have no concerns and have covne acr055 no other matters in connection wrth the examinabon to which attention should be drawn in this report in order lo enable a propèr understanding d the accounts lo be reached. Paul Underwood Morris Crtxker Chartered Acccwnlants Station Hous8 Havanl Hampshir8 P09 1QU Page 6
PARISH OF ST MARYS PORTSEA STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Total funds 2022 Total funds Unrestricted ftjnds Reslricled funds Endowment fund Notes INCOME AND ENDOWMENTS FROM t)onations and legacies 94,089 94,089 271,930 Charltabla actlvltl•s Church actItieS 16.024 16,024 21,894 Other trading actimlies Investment inco 19,431 31,512 19,431 32,427 16,018 33,756 915 Totsl 161,056 915 161,971 343,598 EXPENDITURE ON Charltable actlvltles Church actimlies 162.332 18.092 180,424 367,816 Net gainsllloss8s} on investments 9.356 2,903 90.443 102,702 1150,5401 NET INCOMEIIEXPENDITURE) 8,080 (14,2741 90,443 84,249 {174,7581 RECONCILIATION OF FUNDS Total funds brought forward 124,943 35.589 ,055 1.120,587 1.295,345 TOTAL FUNDS CARRIED FORWARD 133,023 21,315 1,050,498 1,204,836 1,120,587 The notes fomi part of these financial statements Page 7
PARISH OF ST MARYS PORTSEA BALANCE SHEET 31 DECEP4lBER 2023 2023 2022 Nolas FIXED ASSETS Investments 12 1,191.922 1,089,220 CURRENT ASSETS Debtors Cash al bank 13 7,011 67.625 15,882 54,531 74.636 70,413 CREDITORS Amounts falling due within one year 14 (61.7221 (39.046) NET CURRENT ASSETS 12.914 31,367 TOTAL ASSETS LESS CURREKr LIABIUTIES 1,204.836 1.120,587 NET ASSETS 1,204,836 1.120,587 FUNDS Unrestricted funds Reslrirted funds En(b)wmenl funds 16 133,023 21,315 1,050,498 124,943 35,689 960,055 TOTAL FUNDS 1,204,836 1,120,587 Th8 financial statements w8r8 approvod by th8 Board of Trustees and authorised for issue on 24 Juty 2024 and weTe signed on its behalf by.. R White- Trustee The notes form part of these financial slalements Page 8
PARISH OF ST MARY'S PORTSEA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 AccoupmNG POLICIES Basis of preparing the financlal stst&mènts The financial statements have been prepar& in accordanc8 With the Charities SORP {FRS 102> 'Accounting and Reporting by Ch8rthes.' Statemènt of Recommended Practi applicable to charities preparing their accounts in accordan wrth the Financial Reporting Standard applicable in the UK and Republic ef Ireland IFRS 1021 leffective January 20151,, the Charities Act 2011 and the Church Accounting Regulations 2006. The financial statements h8V8 been prepared under the historical cost CVention except for the valuation of investment assets, which are shown al market value. The financial stslemenls include all transactions, assels and liabilities for whKh the PCC is responsible in law. The PCC consider that there arp no material unCertaintS regarding the PCC'S ability to wnlinue as a going concèm. Income Income is recryJnised in the Statement of Firiancial Activrf(Es once the charty has 8ntillem8nl to the funds, it is probable that the income wil be re¢eNed and the amunt ean b6 measured reliably. Voluntsry Income and capital sources ColtIonS are recognised wh&n recewed by or on behalf of the PCC. Planned gimng receivable under Gfft ANJ is reeognised only when receNed. Inume tax recoverable on enants or Aid donations is recognised when the Irwme 18 recoyni8ed. Grants and legacies are accounted for when the PCC is ent((led to the use of the resources, their uttimate reIpl is Consided reasonabty certain and the amounts due are reliably quanlffiable. Funds raised by tre fete, garden paty and similar events are accounted for gross. Sales of trthks and magazines from the church bookstall are accounted for gross. Other ordlnary Income Rentsl income from the letting of church prerThses is reccgnrsed when the rental is du8. Income from Invoslm?nts Dmdends are accounted for when declared rNable. interest as and when owued by the payer. Galns and losses on Investments Realised gains or losses are recognised when investsnents are sdd. Unrealsed gains or losses are accounted for on rwalualK)n of investments at 31 December. ReSoue5 Used Grants and donations ar@ aUnted for when paid over, or when award. rf that award creates a bir1n obligation on the PCC. Actlvltles directty relatlng to the work of th8 Church The diocesan quota or parish share is accounted for when payable. ExpendSture Liabilitie5 are recognised as expendire as soon as there is a legal or construth've oblfraation committing the charity lo that expendf(ure, il is probable that a transfer of ecorK)mic beneffts will be required in settlement and the anount of thè obligation can be measLFred reliably. Expenditure is acwunled for on an accru8ls basis and has been classified under headings that aggregat8 all cost related to the category. Where costs cannot be directly attributed to Pa"cular headings they have been allocated to activf(ies on a basis consistent with the use of resource5. Page 9 tontinued...
PARISH OF ST MARY'S PORTSEA NOTES TO TrIE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDEO 31 DECEMBER 2023 ACCOUNTING POUCIES- continued Taxallon The charity is exempt from lax on its charita)le actwrties. Fund accounting Unrestricted funds can be used in accordan with the Gharitable objectives at the discretion of the trustees. Restricted funds can only bè used for particular restricted purposes wrthin the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. General funds represent the funds of the PCC Ihal are not subject to any restrictions regarélng their use and are available for application on th6 gen8ral purposes of the PCC. Funds designated for a partieular purpose by the PCC are also unrestricted. Restricted Funds are used for the purpose for which the income was given. Interest earned on restrict funds is applied firstly lo the purpose for the restricted fund and any surplus is applied lo general pUoSeS of the PCC. Endowmant Funds are invested to provide irKome for the general purposes of the pcc. The acc(nts indude all transactions. assets and liabiltties 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 Infomial gatherings of Church members. Flnanclal Instruments The charity onty entsrs into basic financial instruments tryansactions th* re$u5t in the recognition of financial assets and liabiltties like trade and other accounts receNable and payable and investm8nts in stocks and shares. The measurement basis used forthese instruments is detailed below. Investments Inveslmerts are staled al marf(el value inclusive of accrued income as at the balanc& sh8el date. The statement of financi41 tMIleS includes the net gains and losses arising on revaluation and disposals throughout the year. Realk8edlUnrealised gains and losses All gains and losses are taken to the statement of financial &twities as they artse. Realised gains and losses on investsnenlB are calculated as the difference beeen sale proceeds and opening market Value or purchase dale rf later. Unrealised gains and losses are calculated as the drfFeren ben the market value at th@ end of the year and opgning market value, or purchase date rf later. Reali5ed and unrealised 98ins are not separated in the Statement of Fin8ncial Acaiwti88. Debtors Short term debtors are measured al transaction pre, less Y impalrment. L¢)ans receivable are measured initi211y al fair value, net of transaction costs, and are measured sub8equently at anortised cost using the effective interest methcKI, less any impaimienl Cash and cash equNalents Cash and cash equivalents comprise cash at bank and on hand. deFM)Sits wrth banks and other short-temi huhty liquid investmerrts and bank overdrafts. In the balance sheet, bank overdtafts are shown within borrowings or current liabilities. Crèdltors and provislons Creditors and provisions are recognised where the charity has a prasenl (knligation resulting from a past event that will prc)bably resuh in the transfer of funds lo a third party and the am(nI due to settle the obligation can be measured or eslimaled reliabty. Credf(ors and provisions are nomialty rewnised at their settlement amunl after allowing for any trade discounts due. Page10 eontintjed...
PARISH OF ST MARY'S PORTSEA NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 DONATIONS AND LEGACIES 2023 2022 Donations, appeals, èl Gift aid donations Legacies Grar Collections al 811 seNic8S Income tax recoverable 14,153 37,657 19.887 34,857 5.000 193,798 28,585 7,251 6,443 10,544 94,089 271,930 Grants re¢ewed, inclLKled in the above, are as follows". 2023 2022 The National Hèrrtage Lottery Fund L¢sted Place ofworship 28,585 166,205 27,593 28,585 193,798 OTHER TRADING ACTPrfITIES 2023 2022 Fetes, Bazaars. other furKlraising events 19,431 16,018 INVESTMENT INCOME 2023 2022 DThiKl8nds and interest 32,427 33,756 All investm8nt income is d8riv8d from ass8ts held in the United Kingdom. Page 11 continu...
PARISH OF ST MARY'S PORTSEA NOTES TO THE FINANCIAL STATEMENTS- continuod FOR THE YEAR ENDED 31 DECEMBER 2023 INCOME FROM CHARITABLE ACTIVITIES 2023 2022 ActDiiIy Church activities Church activities Church halls lettings etc. Fees 15,368 656 11,934 9,960 16.024 21,894 CHARITABLE ACTIVITIES COSTS Direct Costs (see note 7) Support costs (see note 8) Totals Church activities 147,555 32.869 180,424 DIRECT COSTS OF CHARITABLE ACTIVITIES 2023 2022 Diocesan and deat)èry quotas other ministry costs Church running expenses chUh mainlènan Sunday school and youth work Organists and choirs Donations lo chanty 93,208 8,339 30,684 15.316 113,593) 9,601 4,000 75,116 7,021 26,351 219,892 1.110 10.419 147,555 339,909 suppoKr COSTS Govemance costs Manag8ment Totals hUh activthes 28,974 3,895 32,869 Support costs, inGlu¢Jed in the above. we a5 folk)ws'. Management 2023 Church aclwities 2022 Total activit8 Secretarial Services Renewal of office equipment Legal & professional fees Printing and stationery 21,873 277 3,320 3,504 17,852 2,530 1,694 2,741 28,974 24,817 Page 12 continued...
PARISH OF ST MARY'S PORTSEA NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDEO 31 DECEMBER 2023 SUPPORT COSTS - continued Govemance costs 2023 Chureh activrties 2022 Total tivilies Independent Examination fees 3,895 3,090 TRUSTEES, REMUNERATION AND BENEFITS Two12022.. Two) membeTS of the PCC recewed remuneration from the park8h for work either as Parish CrkS or assisting wth printiro and collating in the parish offica. Theirjoint remunerati was £12,37712022.' £11.1611. Trustses. expenses There were no trustees, èxpenses paid for the year ended 31 Dxember 2023 nor for the year ended 31 December 2022. 10. STAFF COSTS 2023 2022 Wages and salarres 24,666 25,333 The averaJe monthly number of employees during the year was as follows.. 2023 2022 No employees received emlurrnnts in exc8ss of £60,rKJo 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds fy$ Endowment nd Total fU[S INCOME AND ENIK)WMENTS FROM Donations and1a¢leS 78.132 193,798 271,930 Charitable activitles Church activrties 21,894 21,894 Othertrading acknvrties Investment income 16,018 32,846 16,018 33.756 910 Total 148,890 194,708 343,598 EXPENDITURE ON Charitable activities Church actwities 174,018 193,798 367,816 Net gainslll¢)sse51 on investments 73,688 {4,0801 1220,1681 (150,540) Page 13 continued...
PARISH OF ST MARY'S PORTSEA NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- contlnued Unrestricted Re8lricted fvnds funds Endowment fund Total funds NET INCOMEI{EXPENDITUREI 48,560 (3,150) 1220,168} 1174,7581 RECONCILIATION OF FUNDS Totsl funds brought forward 76.383 38,739 1,180,223 1.295,345 TOTAL FUNDS CARRIED FORWARD 124.943 35.589 O.OSS 1.120.587 12. FIXED ASSET INVESTMENTS 2022 Marfiet value Addltions 20rJ Marl(et valu8 Historical Unrealised Galns Disposals 24,2 COIF Income Share8 COIF Income 179 Shares ' 45,8 CBF Income Sha CBF Income 16 Shares" Fixed Interest 375 Shares Charibond Shares 19,994 439,612 41,074 480,686 1.343" 3.255 304 3,559 350,220 645,281 61.238 7[,519 115" 362 512 31 543 230 252 372.073 1,089,220 102,701 1,191,921 ' Value al 1 January 1996 13. DEBTORS: AMOUNTS FALUNG DUE wrrHIN ONE YEAR 2023 2022 Other debtor8 7,011 15,882 Paga 14 conllnL*d...
PARISH OF ST MARYS PORTSEA NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 14. CREDITORS: APIL)UNTS FALLING DUE WITHIN ONE YEAR 2023 2022 other creditors 61,722 39,046 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2023 Total funds 2022 Total fund5 Unrestricted funds R8Strict8d ftjnds Enck)wm8nt fund Investments Currant assets Current liabilities 107,081 63.841 137,899) 1.050,498 1.191.922 74,636 161,7221 1.089.Z20 70,413 {39,046} 10.795 123.823} 133,023 21,315 1.0SQ.498 1,204,836 1,120,587 16. MOVEMEFK IN FUNDS Net movement in funds At 31.12.23 At 1.1.23 Unr88trlcted funds General - Parish General . Sl Mary's Church General - Sl Wilfrhd's Church General - Sl Faith's Church Parish Contingency Clergy House Rèpair Fund Crasswell Street Fund Sl Marys Church CHA Fundraisi Sl Ma$ ChUh Bell T¢)wer Fund Sl Ma8 Church Youth Wofk Legacy Sl Wiffrids MISS Chureh Young Families Lagacy Sl Faith's Mission Church Minibus Fund (46,4881 45,459 11,7981 76,677 51 5,177 99 3,800 3,981 1,478 {60,913) 61.094 {533) 7.234 619 (107,4011 1,553 (2.3311 83,911 670 5,177 109 3,800 3,981 1,478 10 34,003 2,504 34,CK)3 3,073 569 124,943 8,080 133,023 Restricted funds Charitable Giving Drake Bequest Sl hAarls Church A5SiStanl Organist Grant Sl Wilfrid's Missnn Church Restoralft & Maintenance Fund Sl Faith's Mission Church Minibus Fund Sl Faith's Mission Church Organ Fund {18.0921 118,0521 17,918 231 15,862 231 18,063 537 1,762 19,825 537 35,589 114,274) 21,315 Endowment fund5 Trust FuThJs and Beque51s 960,055 90,443 1,050,498 TOTAL FUNDS 1,120,587 84.249 1,204,836 Page 15 continued...
PARISH OF ST MARY% PORTSEA NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 16. MoVEmETr IN FUNDS - continued Net nK)vement in funds, indud8d in the abm are a% follows.. Incnming R8sourc8S extnded Gains and bsses Movement in frjnds Unrestricted funds Gerne1- Parish General- St Mary's Church General- St Wilfrid's Church Gene1- St Faith's Church Parish Contingency Crasswell Street Fund Sl Faith's Mission ChLwch Minibus Fund 63,984 84,911 2,304 9,857 1124,8971 123,8171 {3.2221 110,3961 (60.913) 61,0 1533} 7,234 619 10 569 385 7,T13 619 10 161,056 1162,3321 9,356 8,080 Restricted fundg Charrf(able Giving Drake Bequest St Faith's Mission Chwh Minibus Fund 118,0921 118,092} 2,058 1,762 915 1,141 1,762 915 118,0921 2,sY)3 114,2741 Endovmient funds Trust Funds and Bequests 90.443 TOTAL FUNDS 161,971 1180,4241 102,702 84,249 P8ge 16 continu...
PARISH OF ST MARY'S PORTSEA NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 16. MOVEMETrTh IN FUNDS- contlnugd Comparattves for movement in funds Transfers been funds movemenl in funds At 31.12.22 At1.1.22 Unrestricted funds General- Parish General- St Mary's Chureh General- S¢ Wilfn"d's Church Gen8ral- Sl Faith's Church Parish Contingency Clargy House Rapair Fund Crasswell Street Fund st MaS Church CHA Fundraising st Mary's Church B811 Tower Fund St Mary's Church Youth Work Legacy St Mission Church Young Families Legacy St Farth's Mission Church Minibus Fund (19,9861 {44,319) 14,344) 92,264 917 5,177 112 3,800 3,981 1.478 (26,8421 89,908 2,696 (15,5271 18661 340 11301 11501 1601 {46,4881 45.459 11,7981 76,677 51 5,177 99 3,800 3,981 1,478 (13} 34,003 3,300 34,003 1796> 76,383 48.560 124,943 Restrictad funds Charitable Gmng Drake Bequest St Mary'8 Church Assistant Organist Grant St wIrid.$ MissK)n Church Resloralion & Maintenance Fund St Fai(h's Mission Church Minibus Fund St Faf(h's Mission Church Organ Fund 40 17,100 231 40 15.862 231 11,238) 856 19,975 537 856 18,(63 537 (1,912} 38,739 13.150) 35,589 Endovmwnt funds Trust Funds and Bequests 1.180,223 {220,168) 960.055 TOTAL FUNDS 1,295,345 {174,758) 1,120,587 Page 17 conlinued...
PARISH OF ST MARY'S PORTSEA NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 16. MOVEMENT IN FUNDS- contlnued cornp8rab.ve nel movém1 in funds, includ8d in the abo are as follows.. IncomiTrJ resources Resources expended Gain5 and losses Movement in funds Unrestrfcted funds General- Parish General- Sl Mary's Church Generdl- Sl WiifriLI's ChurGh General- Sl Faith's Church Parish Contingency Crasswell Street Fund Sl Faith's Mission Church Minibus Fund 34.123 97,433 6,773 10,561 {97,7391 (57,5251 13,538) {15,216} 36,774 50,000 15391 110,8721 18661 {131 17961 {26,8421 89,908 2,696 {15,527) 186$) {13) 1796) 148,890 (174,018} 73,688 48,560 Restrlcted funds Drake Bequest National Lott8ry Hrtage Listed Places of Worship Sl Faith's Mission Church Minibus Fund 358 166,205 27,593 552 {1.5) {1.238) 1166,2051 (27,593} {2,4641 (1.9121 194,708 (193,7981 (4,)1 13.1501 Endowment funds Ttust Funds and Bequests {220,1681 {220,1681 TOTAL FUNDS 343,598 (367.816) (150,5401 {174,7581 The St Mavs chUh general fijnd is an unrestn.ded )lJnd. Clergy Housing Repair Fund represents amounts set aside to redecorate clergy housing on a change of occupant. Sl Wilfrid's Resloralion and Maintenance Fund represent donations and fund raising for the restoration and maintenance of si wifrid's Church. The Drake Bequest represents funds given lo invesl and provide income for the Maintenan of the minibus for members of the Old People's Day Centre at st Faiths and Sl. Fasth's Minibus Fund represents donations. grants and funds raised for the repl3ment of the minibus for the old people's day centre. As the ntre has now Closed down, the parish is using the interest on these funds to assisl the eklerly in transport to Parish Ever)ts. The St Marls Assistsnl Organist fvnd represents a grant receNed to cover the cost of the assistant organist. The St Mary's Flower fijnd represents amounts set 88ide lo cover the cost crf deo)rats'r¥J St Mary's church throughout the year. St Faith's Organ fund is used to cover Ihe cost of repairs and maintenance of thè organ. The remaining transfers from Sl. Mary's, St. Faith's and Sl. Wlfrid's Unrestricted General Fund8 represent contributions to the Parish's expenses. Page 18 continu8d...
PAR]SH OF ST MARYE PORTSEA NOTES TO THE FINANCIAL STATEMENTS - Continued FOR THE YEAR ENDED 310ECEMBER 2023 17. RELATED PARTY DISCLOSURES Th8Tè were no related party Ir2nsactions for the year ended 31 December 2023. Page 19
PARISH OF ST MARY'S PORTSEA DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Total funds 2022 Total funds Unrestricted funds Restricted funds Endowment funds INCOME AND ENDOWMENTS Donatlons and legacias Donations, appeals. elc. Gift aid donations Legacies Grants Coll8ctior6 at all serwces Income lax recoverable 14,153 37.657 14.153 37.657 19,887 34,857 5,000 193,798 28,5 7,251 6,443 28.585 7.251 6,443 10,544 94,089 94,089 271,930 Other tradlng actlvbtles Fetes. Bazaars, other fundraising events 19,431 19,431 16,018 Investment Income DNiidends and interest 31,512 915 32,427 33.756 Charitable activiti&s Church halls lettings etc. Fees 15.368 656 15.368 656 11,934 9,980 16.024 16.024 21,894 Total incoming rn50urces 161,056 915 161,971 343,598 EXPENDITURE Chariiable activities Dvjcesan artrd deanery qu¢)tas Other ministry wsts Church running expenses Church maintenancè Sunday sch1 and youth wo Organists and choirs Donations lo charity 75,116 8,339 30,684 15,316 {13,5931 9,601 4,000 18,092 93.208 8,339 30,684 15,316 113.5931 9.601 4.000 75,116 7,(Y21 26,351 219,892 1,110 10,419 129,463 18,OW2 147,555 339.909 Supportcosts Management Secretarial services Rènèwal of office equpment Carried forwar 21,873 277 22,150 21,873 277 22,150 17,852 2,530 20,382 This page does not fomi part of the stalulory financial statements Pag8 20
PARISH OF ST MARY'S PORTSEA DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Total funds 2022 Total fijnds UnTestriGted funds Restricted funds Endowment funds Managoment erought fopNard Legal & professional fees Printing and stationery 22.150 3.320 3.504 22,150 3,320 3,504 20,382 1,694 2,741 28.974 28.974 24.817 Governance costs Independent Examination fees 3,895 3,895 3,090 Tcrtal resources &xpended 162,332 18,02 180.424 367,816 Net expenditurè before gains and losses 11,276) 117,1TI) {18,453) {24,2181 R•ali8ed recogn18ed galns and108808 Realised gainsllk>55e51 on fix asset investments 2,903 90,443 102,702 1150,5401 Net Incomellexpendlturo) 8,080 114,274) 90,443 84,249 (174,758) This page does not form part of the statutory financial statements Page 21
Virtual Cabinet Portal Digital Signatures Digital Signature Verification You can verify th81 this is a genuine Virtual Cabinet Document Portal signed document by uploading it to the follow(ng secure web page.. https:Ilwww.virtu8l¢abinetyortal.wmlV81ifySign9dDowment Signature Dates and Times All dales and limes shown in the signatur88 bolow 8re express in Coordinated Universal Timè IUTCI, which generally equivalent to GMT. You can find out more about UTC at the following web page.. '.IhMwi.vlrtualcablnetportal.comMthalsUTC Signature 1 Signed by Bob White using authentication ¢od8 sTBXb(hcup4aMcO at IP acklress 86.166.157.185. on 2024107124 14.'57'.55 Z. Brt) VW)ite'$ e-mail 8ddras$ is.. ravr¢whils@gmail.¢om.