Charity registration number 01130847
THE PAROCHIAL CHURCH OF ST MARY'S & ST CUTHBERT'S ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
THE PAROCHIAL CHURCH OF ST MARY'S & ST CUTHBERT'S
LEGAL AND ADMINISTRATIVE INFORMATION
The Incumbent The Rev. Matthew Strand Appointed 10 March 2022 Charity number 01130847 Principal address Church Chare Chester-le-Street County Durham DH3 3QB Independent examiner David McFarlane (ACA) DMC North Accounting Services A1 Marquis Court Team Valley Trading Estate Gateshead NE11 0RU Bankers Barclays Bank PLC 6/7 Market Place County Durham DH1 3ND
THE PAROCHIAL CHURCH OF ST MARY'S & ST CUTHBERT'S
CONTENTS
| Page | |
|---|---|
| Council Members report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 - 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 18 |
THE PAROCHIAL CHURCH OF ST MARY'S & ST CUTHBERT'S
COUNCIL MEMBERS REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees present their annual report and financial statements for the year ended 31 December 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
Objectives and activities
St Mary and St Cuthbert's Parochial Church Council (PCC) has responsibility for co-operating with the incumbent, Revd Matthew Strand, in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. It also has maintenance responsibilities of the Church Centre complex of the Parish Church of St Mary and St Cuthbert, Chester-le-Street. Correspondence may be addressed to the Church Office, Parish Centre, Church Chare, Chester-le-Street, Co Durham, DH3 3QB.
The PCC is committed to enabling as many people as possible to worship at our church and to become part of our parish community. The PCC maintains an overview of worship throughout the parish and makes suggestions on how our services can improve the many groups that live within our parish. Our services can involve the many groups that live within our parish. Our services and worship put faith into practice through prayer and scripture, music and sacrament.
The PCC is governed by the Church of England measures which comprise of 1) the Parochial Church Councils (Powers) Measure 1956 as amended and 2) the Church Representation Rules (contained in schedule 3 to the Synodical Government Measure 1969 as amended).
When planning our activities for the year, the incumbent and the PCC have considered the Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. We have described some of the activities we have undertaken to fulfill our objectives below.
Achievements and performance
We aim to give away 5% of the congregation’s giving from the previous year and we have achieved that goal - to the agreed charities/mission agencies - local, national and international.
Following church-wide consultation and discernment, in December the following new vision was announced to the congregation, as agreed by the PCC:
"A multi-generational church that makes life long disciples of Jesus, where everyone flourishes."
Church attendance
At the 2022 Annual meeting our Electoral Roll stood at 317 (58 live outside the parish), 6 had died, 3 moved away and 7 new people joined.
Financial review
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THE PAROCHIAL CHURCH OF ST MARY'S & ST CUTHBERT'S
COUNCIL MEMBERS REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
The general, unrestricted income of the PCC in 2022 was £254,661 compared to unrestricted income in 2021 of £240,097.
The organ restoration fund balance stood at £6,416 at the year end. This is restricted towards the repairs and restoration of the organ, and much of the work was undertaken during 2019. This fund has not moved during 2022.
As regards unrestricted expenditure, £106,500 Parish Share has been paid over during the year compared with £75,000 in 2021. Overall, the excess of ordinary unrestricted expenditure over income gave rise to a deficit for the year on unrestricted funds of £50,406 compared to a deficit of £14,627 in 2021.
Looking forward to 2022, now Covid restrictions have been fully relaxed it is hoped the finances of the PCC return to pre pandemic levels.
The policy of the PCC is to maintain a minimum cash reserve within its unrestricted funds of £10,000, to enable it to manage the church's normal expenditure requirements. Year end unrestricted bank balances total £66,217, well in excess of the £10,000 limit. Restricted funds are held until such time as expenditure arises for which they may be used in accordance with the restrictions placed upon their use.
£10,200 has been bequeathed to the PCC in 2022 with no restrictions attached.
Risk Factors
The Council members has assessed the major risks to which the PCC is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
In relation to the management of the major risks that have the potential to adversely affect the work of the church, these are considered by the relevant sub-committees and issues are raised at Council meetings where action is necessary. A formal policy for the protection of children and vunerable adults has been put in place by the PCC and, in accordance with its terms, the necessary DBS searches are made through diocesan channels.
The Parish Centre Management Committee is responsible for health and safety and maintenance issues within the Parish Centre.
The Standing Committee is responsible for the initial management on behalf of the PCC of financial risks. The same Committee also manages health and safety and maintenance issues within the church building and for compliance with the 5 yearly programme of inspection required of church buildings by the Church of England central authorities. The quinquennial survey was carried out in 2018 and therefore the next report is due in 2023.
Structure, governance and management
The PCC is governed by the Church of England measures which comprise of 1) the Parochial Church Councils (Powers) Measure 1956 as amended and 2) the Church Representation Rules (contained in schedule 3 to the Synodical Government Measure 1969 as amended) .
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THE PAROCHIAL CHURCH OF ST MARY'S & ST CUTHBERT'S
COUNCIL MEMBERS REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Members of the PCC are either ex officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules, or may be co-opted.
During the year the following served as members of the PCC:
Clergy (ex officio): The Rev'd Matt Strand
Church Wardens (ex officio):
Mrs Sue Begg Mrs Dorothy Hall Mrs Elaine Rayner Mr David Mallams
Treasurer: Mr Malcolm Austin
Deanery Synod Representatives (ex officio):
Mr Alex Nelson Mr John Hopper Mrs Karen Richardson Mr Ian Goulding Mr Mike Heaps
Elected and Co-opted Members:
Mrs June Austin Mrs Norma Hedley Mrs Edna Sanderson Mrs Ann Brown Mr Alex Webster Mr Tom Appleby Mr Daniel Green Mrs Sharon Dodds Mrs Anne Smith Mr James Hall Mrs Abbie Winter Mrs Ann Wilson
Committees
Our Parochial Church Council met six times through the year as usual.
Standing Committee: This is the only committee required by law.
It has power to transact the business of the PCC between its meetings, subject to any directions given by the Council. Attends to the Financial concerns of the Parish and the Fabric of the Church.
The Council members report was approved by the Board of Council Members.
..............................
Rev Matthew strand
Trustee Dated: .........................
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THE PAROCHIAL CHURCH OF ST MARY'S & ST CUTHBERT'S
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE PAROCHIAL CHURCH OF ST MARY'S & ST CUTHBERT'S
I report to the trustees on my examination of the financial statements of The Parochial Church of St Mary's & St Cuthbert's (the charity) for the year ended 31 December 2022.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
David McFarlane (ACA) A1 Marquis Court Team Valley Trading Estate Gateshead NE11 0RU
Dated: .........................
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THE PAROCHIAL CHURCH OF ST MARY'S & ST CUTHBERT'S
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2022
| Unrestricted Endowment Restricted Endowment funds funds funds funds designated general 2022 2022 2022 2022 Notes £ £ £ £ Income and endowments from: Donations and legacies 2 160,259 - 24,375 - Charitable activities 3 33,749 - - - Other trading activities 4 58,309 - - - Investments 5 1,369 - 4,074 - Other income 6 975 - - - Total income 254,661 - 28,449 - Expenditure on: Raising funds 7 52,115 - - - Charitable activities 8 252,952 4,591 26,010 - Total expenditure 305,067 4,591 26,010 - Net gains/(losses) on investments - - - (342) Net (outgoing)/incoming resources before transfers (50,406) (4,591) 2,439 (342) |
Total Unrestricted Endowment Restricted Endowment funds funds funds funds designated general 2022 2021 2021 2021 2021 £ £ £ £ £ 184,634 158,614 - 11,242 - 33,749 33,670 - - - 58,309 33,049 - - - 5,443 295 - 3,650 - 975 14,469 - - - 283,110 240,097 - 14,892 - 52,115 41,158 - - - 283,553 213,278 4,864 11,324 - 335,668 254,436 4,864 11,324 - (342) - - - 724 (52,900) (14,339) (4,864) 3,568 724 |
Total 2021 £ 169,856 33,670 33,049 3,945 14,469 254,989 41,158 229,466 270,624 724 (14,911) |
|---|---|---|
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THE PAROCHIAL CHURCH OF ST MARY'S & ST CUTHBERT'S
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
| Unrestricted Endowment Restricted Endowment funds funds funds funds designated general 2022 2022 2022 2022 Notes £ £ £ £ Net (outgoing)/incoming resources before transfers (50,406) (4,591) 2,439 (342) Gross transfers between funds - 2,659 (2,659) - Net movement in funds (50,406) (1,932) (220) (342) Fund balances at 1 January 2022 158,963 27,561 538,830 6,134 Fund balances at 31 December 2022 108,557 25,629 538,610 5,792 |
Total Unrestricted Endowment Restricted Endowment funds funds funds funds designated general 2022 2021 2021 2021 2021 £ £ £ £ £ (52,900) (14,339) (4,864) 3,568 724 - (288) 12,597 (12,309) - (52,900) (14,627) 7,733 (8,741) 724 731,488 173,590 19,828 547,571 5,410 678,588 158,963 27,561 538,830 6,134 |
Total 2021 £ (14,911) - (14,911) 746,399 731,488 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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THE PAROCHIAL CHURCH OF ST MARY'S & ST CUTHBERT'S
BALANCE SHEET
AS AT 31 DECEMBER 2022
| Notes Fixed assets Tangible assets 11 Investments 12 Current assets Stocks 14 Debtors 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Capital funds Endowment funds - general Income funds Restricted funds Endowment funds - designated Unrestricted funds |
2022 £ 60 20,550 124,567 145,177 (7,114) |
£ 534,733 5,792 540,525 138,063 678,588 5,792 538,610 25,629 108,557 678,588 |
2021 £ 60 16,266 176,864 193,190 (5,982) |
£ 538,146 6,134 |
|---|---|---|---|---|
| 544,280 187,208 |
||||
| 731,488 | ||||
| 6,134 538,830 27,561 158,963 |
||||
| 731,488 |
The financial statements were approved by the Trustees on .........................
.............................. The Rev'd Matthew Strand Trustee
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THE PAROCHIAL CHURCH OF ST MARY'S & ST CUTHBERT'S
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
Charity information
The Parochial Church of St Mary's & St Cuthbert's is governed by the Church of England measures which comprise of 1) the Parochial Church Councils (Powers) Measure 1956 as amended and 2) the Church Representation Rules (contained in schedule 3 to the Synodical Government Measure 1969 as amended)
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable 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 subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the PCC.
The accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body or those that are informal gatherings of church members.
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THE PAROCHIAL CHURCH OF ST MARY'S & ST CUTHBERT'S
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
(Continued)
1.4 Income
Collections are recognised when received by 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 as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain.
Sales of books and magazines are accounted for gross.
Rental income from the letting of church premises is recognised when the rental is due.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Expenditure is recognised on an accrual basis as a liability is incurred.
Fundraising costs comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the PCC's cafe.
Charitable expenditure comprises those costs incurred by the PCC in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the PCC.
All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs are analysed in the notes to the accounts as requested by the Trustees. This is a departure from the SORP which requires support costs to be allocated between the different activities engaged. The analysis in these accounts is thought to provide a more meaningful analysis to the readers of the accounts.
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THE PAROCHIAL CHURCH OF ST MARY'S & ST CUTHBERT'S
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
(Continued)
1.6 Tangible fixed assets
Consecrated land and buildings and moveable church furnishings
Consecrated and benefice property is excluded from the accounts by s.96(2)(a) of the Charities Act 2011. No value is placed on moveable church furnishings held by the church wardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or benefice buildings and moveable church furnishings, whether maintenance or improvement, is written off as expenditure in the SOFA and seperately disclosed.
Other fixtures, fittings and equipment
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment 15% reducing balance Fixtures and fittings 15% reducing balance
Freehold land and buildings are retained for Church use. These are stated at cost and have not been depreciated due to their market value being considered to be higher than their carrying value.
1.7 Stocks
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
2 Donations and legacies
| Unrestricted Restricted funds funds 2022 2022 £ £ Gift Aid 99,354 - Legacies 10,200 - Regular non gift aid donations 6,420 - Sundry donations 1,493 20,735 Miscellaneous appeals - 3,640 Income tax recoverable on gift aid 28,681 - Collections (open plate) at all services 14,111 - 160,259 24,375 |
Total Unrestricted Restricted funds funds 2022 2021 2021 £ £ £ 99,354 101,991 - 10,200 15,447 4,386 6,420 7,248 4,386 22,228 620 2,750 3,640 4,106 28,681 20,134 - 14,111 13,174 - 184,634 158,614 11,242 |
Total 2021 £ 101,991 19,833 11,634 3,370 4,106 20,134 13,174 |
|---|---|---|
| 169,856 |
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THE PAROCHIAL CHURCH OF ST MARY'S & ST CUTHBERT'S
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
3 Charitable activities
| Magazine | PCC fees | Clergy fees | Total | Magazine | PCC fees | Clergy fees | Total | |
|---|---|---|---|---|---|---|---|---|
| income | 2022 | income | 2021 | |||||
| 2022 | 2022 | 2022 | 2021 | 2021 | 2021 | |||
| £ | £ | £ | £ | £ | £ | £ | £ | |
| Sales within charitable activities | 1,004 | 17,952 | 14,793 | 33,749 | 665 | 15,280 | 17,725 | 33,670 |
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THE PAROCHIAL CHURCH OF ST MARY'S & ST CUTHBERT'S
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
4 Other trading activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Fundraising | 214 | 750 |
| Parish centre lettings | 17,261 | 10,623 |
| Catering income | 40,834 | 21,676 |
| Other trading activities | 58,309 | 33,049 |
5 Investments
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2022 | 2022 | 2022 | 2021 | 2021 | 2021 | |
| £ | £ | £ | £ | £ | £ | |
| Income from unlisted | ||||||
| investments | 1,369 | 4,074 | 5,443 | 295 | 3,650 | 3,945 |
6 Other income
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Feed in tariff | 975 | 1,255 |
| Furlough receipts | - | 13,214 |
| 975 | 14,469 |
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THE PAROCHIAL CHURCH OF ST MARY'S & ST CUTHBERT'S
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
7 Raising funds
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Trading costs | ||
| Catering costs | 15,316 | 8,169 |
| Parish Centre wages costs | 36,799 | 32,989 |
| Trading costs | 52,115 | 41,158 |
| 52,115 | 41,158 |
8 Charitable activities
| Depreciation and impairment Missionary Societies Relief agencies Magazine costs Parish centre costs Clergy fees surrendered to Diocese Parish shares Curate house expenses Church running expenses Pension contributions Salaries, wages and honoraria Sundry expenses Machine lease and expenditure Accountancy fees Independent examination fees Legal fees Analysis by fund Unrestricted funds Endowment funds - designated Restricted funds |
Total 2022 £ 6,656 5,251 2,302 332 31,184 22,941 106,500 1,430 53,062 838 44,328 779 2,980 2,890 650 1,430 283,553 283,553 252,952 4,591 26,010 283,553 |
Total 2021 £ 7,258 11,483 3,079 353 14,574 24,086 75,000 1,149 37,372 1,297 47,724 871 1,680 2,890 650 - |
|---|---|---|
| 229,466 | ||
| 229,466 | ||
| 213,278 4,864 11,324 |
||
| 229,466 |
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THE PAROCHIAL CHURCH OF ST MARY'S & ST CUTHBERT'S
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
9 Trustees
None of the Council members (or any persons connected with them) received any remuneration or benefits from the PCC during the year.
10 Employees
Number of employees
The average monthly number of employees during the year was:
| Employment costs Wages and salaries Social security costs Other pension costs |
2022 Number 7 2022 £ 75,986 - 838 76,824 |
2021 Number 8 |
|---|---|---|
| 2021 £ 77,896 603 1,297 |
||
| 79,796 |
There were no employees whose annual remuneration was £60,000 or more.
11 Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Freehold land and buildings Plant and equipment Fixtures and fittings £ £ £ Cost At 1 January 2022 497,000 98,074 87,999 Additions - 1,489 1,755 At 31 December 2022 497,000 99,563 89,754 Depreciation and impairment At 1 January 2022 - 80,983 63,945 Depreciation charged in the year - 2,786 3,870 At 31 December 2022 - 83,769 67,815 Carrying amount At 31 December 2022 497,000 15,794 21,939 At 31 December 2021 497,000 17,092 24,054 |
Total £ 683,073 3,244 |
| 686,317 | |
| 144,928 6,656 |
|
| 151,584 | |
| 534,733 | |
| 538,146 |
The freehold land and buildings comprise of the Parish Centre and associated land, Waldridge Mission Church site and the equity share of 16 Park Road North.
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THE PAROCHIAL CHURCH OF ST MARY'S & ST CUTHBERT'S
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
12 Fixed asset investments
| Cost or valuation At 1 January 2022 Valuation changes At 31 December 2022 Carrying amount At 31 December 2022 At 31 December 2021 |
Total £ 6,134 (342) |
|---|---|
| 5,792 | |
| 5,792 | |
| 6,134 |
The investment relates to The Lisle and Dorothy Pattison Gift (394.189 Charifund Units).
The Trust Fund is an endowment trust and the income earned may be used for the general purposes of the PCC.
| 13 Financial instruments Carrying amount of financial assets Instruments measured at fair value through profit or loss 14 Stocks Finished goods and goods for resale 15 Debtors Amounts falling due within one year: Gift aid recoverable Prepayments and accrued income 16 Creditors: amounts falling due within one year Accruals and deferred income |
2022 £ 5,792 2022 £ 60 2022 £ 16,165 4,385 20,550 2022 £ 7,114 |
2021 £ 6,134 |
|---|---|---|
| 2021 £ 60 |
||
| 2021 £ 12,000 4,266 |
||
| 16,266 | ||
| 2021 £ 5,982 |
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THE PAROCHIAL CHURCH OF ST MARY'S & ST CUTHBERT'S
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
17 Fund details
The unrestricted funds comprise the General and Areas/Groups Funds as well as the equity share of 16 Park Road North. All other funds are restricted in their use.
The endowment funds comprise of the trust fund as shown in note 12.
The bank account balances are represented by funds as follows:
| Balance @ | Change in | Transfered | Balance @ | ||
|---|---|---|---|---|---|
| Fund | 01.01.22 | year | in year | 31.12.22 | |
| General | 116,689 | (51,942) | 64,747 | ||
| Youth | R | - | - | ||
| Charities | R | 2 | (2) | - | |
| Fabric | R | 29,210 | (7,298) | 21,912 | |
| Organ Restoration Fund | R | 6,416 | 6,416 | ||
| Miscellaneous | R | 1,745 | 6,988 | 8,733 | |
| Centre recoupment | R | 21,289 | 21,289 | ||
| Areas/Groups | 1,513 | (43) | 1,470 | ||
| 176,864 | (52,297) | - | 124,567 | ||
| Total restricted bank balances | R | 58,350 | |||
| Total unrestricted bank balances | 66,217 |
18 Designated funds
Designated funds comprise of the net book value of assets purchased out of restricted funds which become unrestricted assets once purchased.
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THE PAROCHIAL CHURCH OF ST MARY'S & ST CUTHBERT'S
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
| 19 Analysis of net assets between funds Unrestricted funds Designated funds Restricted funds Endowment funds 2022 2022 2022 2022 £ £ £ £ Fund balances at 31 December 2022 are represented by: Tangible assets 29,104 25,629 480,000 - Investments - - - 5,792 Current assets/(liabilities) 79,453 - 58,610 - 108,557 25,629 538,610 5,792 |
Total Unrestricted funds Designated funds Restricted funds Endowment funds 2022 2021 2021 2021 2021 £ £ £ £ £ 534,733 24,451 27,561 480,000 6,134 5,792 6,134 - - - 138,063 128,378 - 58,830 - 678,588 158,963 27,561 538,830 6,134 |
Total 2021 £ 538,146 6,134 187,208 |
|---|---|---|
| 731,488 |
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THE PAROCHIAL CHURCH OF ST MARY'S & ST CUTHBERT'S
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
20 Related party transactions
There were no disclosable related party transactions during the year (2021 - none).
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