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 V￿r and Parish Wardens in the managanent of the Trusts list￿J in the Financial
Statements.
Th@ PCC r8fi8Cted on rts structure post COVID and after conSU￿ation proposed to the Annual Meeting in 2023 a
simpliftalion of its govemance structures. There is now a Stansing and Finance Cr￿mItte@ (with representativès of the
2 Churches alongside Wardens, and other Officers). This meets betr￿en 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 s￿k 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 inVo￿ed 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 prO￿5S 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 carrI￿f 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 Onwi￿j 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
dI￿8san 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 Y￿aldIng 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
ethi￿1 ConS￿eratIOnS 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 Pa￿￿h181 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..
InCum￿nt.
Thè Revd. CarM)n Bob Vvhile
AS￿late 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:
Jac*ie 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 {frc*n May
2023)
Stuart B￿ler
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 w￿h 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 charit￿8 (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 actI￿tieS
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 C￿Vention 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 unCertaint￿S 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
Col￿tIonS 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
re￿Ipl is Consid￿ed 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 r￿Nable. 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.
ReSou￿e5 Used
Grants and donations ar@ a￿Unted for when paid over, or when award￿. rf that award creates a bir￿1n￿
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 expendi￿re 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 pU￿oSeS 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 be￿een sale proceeds and opening market Value or purchase dale
rf later. Unrealised gains and losses are calculated as the drfFeren￿ be￿n 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 pr￿e, 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
chU￿h 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
hU￿h activthes
28,974
3,895
32,869
Support costs, inGlu¢Jed in the above. we a5 folk)ws'.
Management
2023
Church
aclwities
2022
Total
activit￿8
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 C￿rkS 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 and1￿a¢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￿$ ChU￿h Bell T¢)wer Fund
Sl Ma￿8 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 Restoral￿ft &
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
ext￿nded
Gains and
bsses
Movement
in frjnds
Unrestricted funds
Gerne￿1- Parish
General- St Mary's Church
General- St Wilfrid's Church
Gene￿1- 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
be￿en
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 Ma￿S 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 wI￿rid.$ 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 movém￿1 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 H￿rtage
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 chU￿h 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 repl3￿ment 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 sch￿1 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
18,0￿2
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

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