The PCC of St Philip and St James, Alderley Edge
FINANCIAL REVIEW FOR 2023
-
In 2023 we had a surplus of £30,075.93. In 2022 it was £13,051.43 compared to £4,725.05 in 2021.
-
Planned Giving was £78,213.00 and we also received £3,346.50 in Gift Aid envelopes. This gives a total (both subject to Gift Aid) of £81,559.50. In 2022 we received a total of £80,486.02.
-
In 2023 we received legacies of £15,189.75 compared to nil in 2022. In 2021 we received £1,500.00.
-
The Spire, Organ and Redecoration Appeal was closed because all the works are now complete.
-
During 2023 we donated £3,514.93 from the St Elizabeth Fund and were left with a balance of £1,054.95.
-
In 2023 we set up the Conservation Fund, where, for a donation of £5 per month (or £60 p.a.) participants are entered into a monthly draw and the surplus at the end of 12 months will be put towards the church fabric. At the end of 2023 there were 59 members, £206.25 had been paid out in prize money and £1,058.75 had accrued to the church.
-
We donated £168.34 to the Children’s Society (Christingle) and via Churches Together in Alderley, we gave £156.30 to Christian Aid. We continued to make distributions through the Food Bank and the year-end balance was £540.26. The Christmas Appeal raised £3,665.08 and was shared between the Rossendale Trust, CRIBS International, Embrace the Middle East, Reach Out and Recover and Hope Central. We also gave £395.35 to Christians Against Poverty from Votive Candle donations and £172.97 to St Francis House Children’s Hospice from the collection at the Primary School Nativity Play.
-
A usual, our largest item of expenditure was the Parish Share (which funds our vicar and the vicarage). In 2022 it was reduced for the last three months because we created a benefice with St Catherine’s, Over Alderley. This reduction has been used to fund a part-time administrator. Consequently, our expenditure was £80,400.05 compared to £91,615.96 in 2022 and £94,086.92 in 2021. The next largest items were – General PCC Expenditure at £14,117.43 (including rent for the curate’s house, a new chapel carpet and the marquee), Repairs at £7,662.56, Insurance at £7,248.74 and Utilities (there was no boiler service) at £6,552.96. The significant purchases included new speakers at £2,088.00.
-
Gift Aid payments received from HMRC, based on Pledged Giving and Gift Aided donations in 2023 were £22,518.07 compared to £25,526.13 in 2022. In 2021 they were £23,097.82.
-
Apart from Regular Donations and the associated Gift Aid, the largest income category this year was General Donations. We received £8,074.15 which is similar to £7,747.57 in 2022. The income from the Everything Everywhere Transmitter was £15,863.64 compared to £11,820.00 in 2022. However, income will reduce sharply when the new contract is implemented.
-
£7,092.25 of Endowment Income was received (compared to £7,053.73 in 2022) and is 'Unrestricted'. Our book value of the relevant Endowments is £6,975.00. Accounting regulations do not require us to obtain a current valuation. However, the two components appreciated by 9.5% compared with a depreciation of 11.8% in the previous year. At the end of 2023, the main Endowment Fund was valued at £187,714.41 (£171,443.55 at end of 2022) and the McElfatrick Fund was valued at £71,749.22 (£65,530.00 at the end od 2022). The former cannot be accessed since it arose from investments to pay the stipend before the Diocese assumed responsibility, but the latter can be spent as the PCC sees fit (but it does provide an extremely useful income).
-
We hold two accounts with Church Board of Finance Deposit Fund (CCLA). The balances at the end of 2023 were £44,935.78 and £36,301.87. Interest is paid quarterly but only three payments were made in 2023.
| Unrestricted | Restricted | Endowment | Total | Prior year | |
|---|---|---|---|---|---|
| funds | funds | funds | funds | total funds | |
| Incoming resources | |||||
| Incomingresourcesfromgenerated funds | |||||
| Voluntary income | £136,485.88 | (£105.88) | — | £136,380.00 | £124,461.29 |
| Activities for generating funds | £20,560.40 | — | — | £20,560.40 | £17,737.03 |
| Investment income | £9,805.50 | £6.08 | — | £9,811.58 | £8,139.15 |
| Incomingresourcesfromcharitable activities | — | — | — | — | — |
| Otherincomingresources | £11,962.76 | — | — | £11,962.76 | £960.30 |
| LetterBoxIncome | £19,247.82 | — | — | £19,247.82 | £11,038.78 |
| Total income | £198,062.36 | (£99.80) | — | £197,962.56 | £162,336.55 |
| Resources used | |||||
| Costsof generating funds | £113.60 | — | — | £113.60 | £251.80 |
| Costsof generatingvoluntaryincome | — | — | — | — | — |
| Fundraisingtrading: cost ofgoodssold andother | — | — | — | — | — |
| costs | |||||
| Charitableactivities | — | — | — | — | — |
| Governancecosts | £11,901.97 | — | — | £11,901.97 | £557.94 |
| OtherResourcesUsed | — | — | — | — | — |
| MinistryCosts | £86,789.76 | — | — | £86,789.76 | £97,937.90 |
| Donations/Subscriptions payable | — | — | — | — | £59.36 |
| Buildings | £28,264.18 | — | — | £28,264.18 | £20,501.08 |
| Services/Grounds | £4,754.45 | — | — | £4,754.45 | £3,823.03 |
| SupportCosts | £14,369.79 | — | — | £14,369.79 | £9,241.09 |
| ChurchRooms | £4,148.21 | — | — | £4,148.21 | £3,947.83 |
| Administration | £2,884.89 | — | — | £2,884.89 | £974.07 |
| LetterBoxExpenditure | £14,659.78 | — | — | £14,659.78 | £11,991.02 |
| Total expenditure | £167,886.63 | — | — | £167,886.63 | £149,285.12 |
| Gains/losseson investmentassets | |||||
| Net income / (expenditure) resources before | £30,175.73 | (£99.80) | — | £30,075.93 | £13,051.43 |
| transfer | |||||
| Transfers | |||||
| Grosstransfers between funds - in | £2,157.56 | — | — | £2,157.56 | — |
| Grosstransfers between funds - out | (£135.00) | (£2,022.56) | — | (£2,157.56) | — |
| Other recognised gains / losses | |||||
| Gainson revaluation, fixedassets,charity'sown use | — | — | — | — | — |
| Net movement in funds | £32,198.29 | (£2,122.36) | — | £30,075.93 | £13,051.43 |
| Total funds brought forward | £131,729.36 | £2,127.79 | £6,975.00 | £140,832.15 | £127,780.72 |
| Total funds carried forward | £163,927.65 | £5.43 | £6,975.00 | £170,908.08 | £140,832.15 |
| Represented by | |||||
| Unrestricted |
| Generalfund | £60,443.93 | £60,443.93 | £30,769.58 | ||
|---|---|---|---|---|---|
| Designated | |||||
| GBFGeneralReserve | £36,301.87 | £36,301.87 | £35,174.56 | ||
| CBFReserveFund | £44,935.78 | £44,935.78 | £43,540.35 | ||
| ChoirFund | £645.65 | £645.65 | £644.45 | ||
| GeneralDesignated | |||||
| SpecialProjects | £21,600.42 | — | £21,600.42 | £21,600.42 | |
| Spire,Organ &InteriorAppeal | |||||
| Restricted | |||||
| Agencycollection | — | (£105.88) | — | (£105.88) | |
| CBFGeneralReserve | |||||
| CBFReserveFund | |||||
| Friendsof St Philips Fund | |||||
| MemorialFund | £109.26 | £109.26 | £109.26 | ||
| Provisionof flowers | £2.05 | £2.05 | £2.05 | ||
| Restdto major/quinquennial wk | |||||
| SpecialProjects | |||||
| Spire,Organ &InteriorAppeal | — | £2,016.48 | |||
| Endowment | |||||
| Endowmentfund | — | £6,975.00 | £6,975.00 | £6,975.00 |
| General | Designated | Restricted | Endowment | This year | Last year | |
|---|---|---|---|---|---|---|
| Current assets | ||||||
| Investments | — | — | — | £6,975.00 | £6,975.00 | £6,975.00 |
| Cash at bankandin hand | £60,443.93 | £103,483.72 | £5.43 | £163,933.08 | £133,751.27 | |
| £60,443.93 | £103,483.72 | £5.43 | £6,975.00 | £170,908.08 | £140,726.27 | |
| Liabilities | ||||||
| Creditors: Amounts falling due in one year | — | — | — | — | — | (£105.88) |
| — | — | — | — | — | (£105.88) | |
| Net current assets less current liabilities | £60,443.93 | £103,483.72 | £5.43 | £6,975.00 | £170,908.08 | £140,832.15 |
| Total assets less current liabilities | £60,443.93 | £103,483.72 | £5.43 | £6,975.00 | £170,908.08 | £140,832.15 |
| Total net assets less liabilities | £60,443.93 | £103,483.72 | £5.43 | £6,975.00 | £170,908.08 | £140,832.15 |
| Represented by | ||||||
| Unrestricted | ||||||
| Generalfund | £60,443.93 | — | — | £60,443.93 | £30,769.58 | |
| Designated | ||||||
| Spire,Organ&InteriorAppeal | — | — | — | — | — | — |
| ChoirFund | — | £645.65 | — | — | £645.65 | £644.45 |
| GeneralDesignated | — | — | — | — | — | — |
| CBFReserveFund | — | £44,935.78 | — | — | £44,93578 | £43,540.35 |
| CBFGeneralReserve | — | £36,301.87 | — | — | £36,301.87 | £35,174.56 |
| SpecialProjects | — | £21,600.42 | — | — | £21,600.42 | £21,600.42 |
| Restricted | ||||||
| Spire,Organ&InteriorAppeal | — | — | — | — | — | £2,016.48 |
| Provisionofflowers | — | — | £2.05 | — | £2.05 | £2.05 |
| Agencycollection | — | — | (£105.88) | — | (£105.88) | — |
| Restdtomajor/quinquennialwk | — | — | — | — | — | — |
| CBFReserveFund | — | — | — | — | — | — |
| FriendsofSt Philips Fund | — | — | — | — | — | — |
| CBFGeneralReserve | — | — | — | — | — | — |
| MemorialFund | — | — | £"09 26 | — | £109.26 | £109.26 |
| SpecialProjects | — | — | — | — | — | — |
| General | Designated | Restricted | Endowment | Endowment | Tiiis year | Last year | |
|---|---|---|---|---|---|---|---|
| Current assets - Cash at bank and in hand | |||||||
| MainCurrentAccount- | £41,968.14 | (£25,000.00) | (£105.88) | — | £16,862.26 | £29,799.20 | |
| ConservationFund - | £3,093.75 | (£81.31) | £111.31 | — | £3,123.75 | £23,719.47 | |
| CBFReserve- | (£24.23) | £44,960.01 | — | — | £44,935.78 | £43,540.35 | |
| CBFGeneral- | £24.23 | £36,277.64 | — | — | £36,301.87 | £35,174.56 | |
| NewReserveAccount- | £14,189.75 | £22,327.38 | — | - | — | £36,517.13 | — |
| StElizabeth Fund - | £1,677.91 | — | (£622.96) | — | £1,054.95 | £894.50 | |
| BarclaysDeposit- | (£485.62) | £25,000.00 | £622.96 | — | £25,137.34 | £623.19 | |
| Totals | £60,443.93 | £103,483.72 | £5.43 | — | £163,933.08 | £133,751.27 | |
| Current assets - Investments | |||||||
| Endowment - | — | — | — | £6.975.00 | £6,975.00 | £6,975.00 | |
| Totals | — | — | — | £6,975.00 | £6,975.00 | £6,975.00 | |
| Liabilities - Agency accounts | |||||||
| Agencycollections- | — | — | — | — | — | (£105.88) | |
| Totals | — | — | — | — | — | (£105.88) | |
| Grand total | £60,443.93 | £103,483.72 | £5.43 | £6,975.00 | £170,908.08 | £140,832.15 |
| Opening | Incoming | Outgoing | **Transfers ** | Gains/losses | Journals | Closing | |
|---|---|---|---|---|---|---|---|
| Appeal - Spire, Organ & Inter | |||||||
| Designated | — | — | — | — | |||
| Restricted | £2,016.48 | £6.08 | (£2,022.56 | ||||
| ) | |||||||
| Sub-total for Appeal | £2,016.48 | £6.08 | — | (£2,022.56 | — | — | — |
| ) | |||||||
| Choir - Choir Fund | |||||||
| Designated | £644.45 | £133.80 | £135.00 | £645.65 | |||
| Sub-total for Choir | £644.45 | — | £133.80 | £135.00 | — | — | £645.65 |
| GenDes - General Designated | |||||||
| Designated | |||||||
| Sub-total for GenDes | — | — | — | — | — | — | — |
| Flower - Provision of flowers | |||||||
| Restricted | £2.05 | £2.05 | |||||
| Sub-total for Flower | £2.05 | — | — | — | — | — | £2.05 |
| General - General fund | |||||||
| Unrestricted | £30,769.5 | £195,539. | £167,752. | £1,887.56 | — | £60,443.9 | |
| 8 | 62 | 83 | 3 | ||||
| Sub-total for General | £30,769.5 | £195,539. | £167,752. | £1,887.56 | £60,443.9 | ||
| 8 | 62 | 83 | 3 | ||||
| None - Agency collection | |||||||
| Restricted | (£105.88) | ||||||
| Sub-total for None | — | (£105.88) | — | — | — | — | — |
| Quinquen - Restd to major/quinq | |||||||
| Restricted | |||||||
| Sub-total for Quinquen | — | — | — | — | — | — | — |
| Endow - Endowment fund | |||||||
| Endowment | £6,975.00 | £6,975.00 | |||||
| Sub-total for Endow | £6,975.00 | — | — | — | — | — | £6,975.00 |
| Reserve - CBF Reserve Fund | |||||||
|---|---|---|---|---|---|---|---|
| Designated | £43,540.3 R |
£1,395.43 | — | — | — | — | £44,935.7 8 |
| Restricted | — | — | |||||
| Sub-total for Reserve | £43,540.3 | £1,395.43 | — | — | — | £44,935.7 | |
| 5 | 8 | ||||||
| Friends - Friends of St Philip | |||||||
| Restricted | |||||||
| Sub-total for Friends | — | — | — | — | — | — | — |
| Genresv - CBF General Reserve | |||||||
| Designated | £35,174.5 R |
£1,127.31 | — | — | — | — | £36,301.8 7 |
| D | |||||||
| Restricted | — | — | |||||
| Sub-total for Genresv | £35,174.5 | £1,127.31 | — | — | — | £36,301.8 | |
| 6 | 7 | ||||||
| Memorl - Memorial Fund | |||||||
| Restricted | £109.26 | £109.26 | |||||
| Sub-total for Memorl | £109.26 | — | — | — | — | — | £109.26 |
| Projects - Special Projects Designated |
£21,600.4 9 |
— | — | — | — | — | £21,600.4 2 |
| Restricted | — | — | |||||
| Sub-total for Projects | £21,600.4 2 |
£21,600.4 2 |
|||||
| Grand total | £140,832. | £197,962. | £167,886. | — | £171,013. | ||
| 15 | 56 | 63 | 96 |
| Total | ||||||
|---|---|---|---|---|---|---|
| Unrestricted Designated | Restricted | Endowment | This year | Last year | ||
| INCOME AND ENDOWMENTS | ||||||
| Incoming resources from generated funds - Voluntary income | ||||||
| 1101-Legacies | £15,189.75 | — | — | — | £15,189.75 | — |
| 1102-Planned Giving | £78,213.00 | — | — | — | £78,213.00 | £79,547.02 |
| 1103-Tax Refunds PInd Gvg | f??,518.07 | — | — | — | f??,518.07 | £25,526.13 |
| 1104-Church Collections | £4,572.36 | — | — | — | £4,572.36 | £5,899.32 |
| 1105-Gift Aid Envelopes | £3,346.50 | — | — | — | £3,346.50 | £939.00 |
| 1108-FeestoPCC | £2,734.00 | — | — | — | £2,734.00 | £3,830.00 |
| 1109-Other Donations | £8,180.03 | — | (£105.88) | — | £8,074.15 | £7,747.57 |
| 1620-TuesdayTots Income | £1,732.17 | — | — | — | £1,732.17 | £972.25 |
| 1630-Film Club Income | — | — | — | — | — | — |
| 1800-Spire,Organ&InteriorAppeal | — | — | — | — | — | — |
| Total | £136,485.88 | — | (£105.88) | — | £136,380.00 | £124,461.29 |
| Incoming resources from generated funds - Activities for generating funds | ||||||
| 1201-MobilePhone Transmitter | £15,863.64 | _ | _ | _ | £15,863.64 | £11,820.06 |
| 1401-Church Rooms | £820.00 | _ | _ | _ | £820.00 | £2,912.00 |
| 1403-Activities/Merchandise | £3,876.76 | — | — | — | £3,876.76 | £3,004.97 |
| Total | £20,560.40 | — | — | — | £20,560.40 | £17,737.03 |
| Incoming resources from generated funds - Investment income | ||||||
| 1501-Endowment Income | £7,092.25 | _ | _ | _ | £7,092.25 | £7,053.23 |
| 1502-CBFDeposit Interest | £2,522.74 | — | £2,522.74 | £1,021.86 | ||
|---|---|---|---|---|---|---|
| 1503-Other Interest | £190.51 | £6.08 | £196.59 | £64.06 | ||
| Total | £7,282.76 | £2,522.74 | £6.08 | — | £9,811.58 | £8,139.15 |
| Incoming resources from charitable activities | ||||||
| 1720-Pandemic Shopping Income | — | |||||
| Total | — | — | — | — | ||
| Other incoming resources | ||||||
| 1601-VATRefunds/LPOWScheme | — | |||||
| 1602-Insurance Claim | ||||||
| 1603-Grants | £9,546.17 | £9,546.17 | ||||
| 1610-Singing Together Income | £1,241.59 | £1,241.59 | £186.30 | |||
| 1723-RepaymentofTax | — | |||||
| 1724-Choir Fundraising | £70.00 | £70.00 | £90.00 | |||
| 1726-Domesticfees | £1,105.00 | £1,105.00 | £684.00 | |||
| 1801-Tax RefundonSpire GiftAid | ||||||
| Total | £11,962.76 | — | — | — | £11,962.76 | £960.30 |
| Letter Box Income | ||||||
| 1717-Letter-Box Income | £13,214.82 | — | £13,214.82 | £5,034.58 | ||
| 1725-AssignedFees | £3,503.00 | — | £3,503.00 | £3,729.20 | ||
| 1732-Organist | £1,270.00 | — | £1,270.00 | £1,155.00 | ||
| 1734-Verger | £1,260.00 | £1,260.00 | £1,120.00 | |||
| 1750-Sequestration Account | ||||||
| Total | £19,247.82 | — | — | — | £19,247.82 | £11,038.78 |
| INCOME TOTAL | £195,539.62 | £2,522.74 | (£99.80) | — | £197,962.56 | £162,336.55 |
| Costs of generating funds | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2735-CoverforClergy | £113.60 | _ | _ | _ | £113.60 | £251.80 | ||||
| 2800-Spire,Organ&lnteriorAppeal | — | — | — | — | — | — | ||||
| Expenditure | ||||||||||
| Total | £113.60 | _ | _ | _ | £113.60 | £251.80 | ||||
| Costs of generating funds - Costs of generating | voluntary | income | ||||||||
| 2630-Film Club Expenditure | — | — | — | — | ^ | |||||
| 7 Ota | _ | _ | _ | _ | _ | _ |
| 2802- Newsletter/Bookstall | ||||||
|---|---|---|---|---|---|---|
| Total | — | — | — | — | ||
| Ministry Costs | ||||||
| 2101-ParishShare | £80,400.05 | — | £80,400.05 | £91,395.96 | ||
| 2102- ClergywrkgExpenses 2103- Vicarage Rates/water |
£1,800.51 £4,146.26 |
— | — | £1,800.51 £4,146.26 |
£1,994.67 £3,992.47 |
|
| 2104- Vicarage Repairs/maintenance 2105-Otherclergy expense Total |
£442.94 £86,789.76 |
— | — | — | £442.94 £86,789.76 |
£554.80 £97,937.90 |
| Donations/Subscriptions payable | ||||||
| 2201- ExternalDonations | £59.36 | |||||
| Total | — | — | — | — | £59.36 | |
| Buildings | ||||||
| 2401- Utilities/GasSrvce. | £6,552.96 | £6,552.96 | £8,473.17 | |||
| 2402- Insurance, Church &Parish | £7,248.74 | £7,248.74 | £7,365.89 | |||
| Rooms | ||||||
| 2403- Maintenance/repairs 2404-Majorrepairs 2803- SpireRepairsand New |
£7,662.56 £6,829.92 (£30.00) |
— | — | — | £7,662.56 £6,829.92 (£30.00) |
£4,662.02 |
| Facilities | ||||||
| Total | £28,264.18 | — | — | — | £28,264.18 | £20,501.08 |
| Services/Grounds | ||||||
| 2301-Altarrequisites 2302-Sen/icesheets/music |
£748.77 £2,371.95 |
— | — | — | £748.77 £2,371.95 |
£1,008.34 £1,676.69 |
| 2303- Wages andHonoraria 2304- Churchyard |
£1,633.73 | £1,633.73 | £1,066.00 £72.00 |
|||
| Total | £4,754.45 | — | — | £4,754.45 | £3,823.03 | |
| Support Costs | ||||||
| 2501-OrdyPCCExpense 2502- Flowers |
£14,117.43 £118.56 |
— | £14,117.43 £118.56 |
£9,241.09 | ||
| 2505-WorkingwithYoung People | — | |||||
| 2610- Singing Together Expenditure 2724- ChoirExpenses |
£133.80 | £133.80 | ||||
| Total | £14,235.99 | £133.80 | — | £14,369.79 | £9,241.09 | |
| Church Rooms | ||||||
| 2602- Church RoomsMaintenance | £60.00 | — | — | £60.00 | ||
| 2603- Church Rooms Cleaning 2604- Church RoomsUtilities |
£3,134.20 £954.01 |
£3,134.20 £954.01 |
£3,225.00 £722.83 |
|||
| Total | £4,148.21 | — | — | £4,148.21 | £3,947.83 | |
| Administration | ||||||
| 2701-Ordyofficeexpense | £2,884.89 | £2,884.89 | £974.07 |
| 2702-Office Telephone | |||||||
|---|---|---|---|---|---|---|---|
| 2703-Office Equipment | |||||||
| 2704-Admin Honoraria | |||||||
| Total | |||||||
| Letter Box Expenditure | |||||||
| 2725-Assignedfees | £3,780.00 | _ | _ | _ | £3,780.00 | £3,529.20 | |
| 2732-Organist | £3,876.00 | _ | _ | _ | £3,876.00 | £3,672.00 | |
| 2734-Verger | £936.00 | _ | _ | _ | £936.00 | £832.00 | |
| 2750-Sequestration Account | — | — | — | — | — | — | |
| 2929-Letter-Box Expenditure | £6,067.78 | — | — | £6,067.78 | £3,957.82 | ||
| Total | £14,659.78 | ::;3 | — | — | £14,659.78 | £11,991.02 | |
| **EXPENDITURE ** | TOTAL | £167,752.83 | £133.80 | — | — | £167,886.63 | £149,285.12 |
| **GRAND ** | TOTAL | £27,786.79 | £2,388.94 | (£99.80) | — | £30,075.93 | £13,051.43 |