THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BEXHILL Registered Charity Number 1131504 TRusfEES ANNUAL REPORT AND FINANCIAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31sr DECEMBER 2023 Contents Annual Report Independent Examlners Report statement of Flnanclal Actlvitles Balance Sheet Notes to the Accounts 9-22 The Revd. Stephen W. Need The Rectoryi Church Street Bexhill-on-se East Sussex TN40 2HE Prlnclpal Bank¢rs Santander UK plc Uoyds Bank pl¢ Bridle Road Wellington Ha Bootle Hastings Merseyside East Sussex L30 4GB TN34 INX Ecology Building Society CCLA Investment 7 Belton Road Management Ltd Silsden The CBF Church of Keighley England Funds West Yothshlre Senator House BD20 OEE 85 Queen Victoria Street London EC4V 4ET Accountants Independent Examlner Archltects Gibbons Mannington & Phipp5 LLP Samantha Whiting FCA John D ClatlmrMnts. St Peter's met the agree(I pledge for 2023 towards the Dh)cesan &Jdget as Its share of Parish Ministsyi paying £70,910. Every year seems to brlng new challenges and 2023 proved to be no exceptlon. Although both of the church propertles have new tenants, one required several expensive repalrs uslng up most of the rent generated from this property. Like all hoL￿eholdS the DCC has irKurred increased ertrergy Costs, although rt was pleasing to see Signs of these reducing sli9hYy. and the grant to the Parish from the Dlo¢ese deTinltely helped. A dlgfital card reader was glven to the thurth by the t)iocese an(1 this has contributed £1,075 toward5 income, and as far as we can tell this appears to be 'new" money. We were also fortunate in the rtsponse to the Lert appeal in 2023, with over £6,000 being pledged to support the salary for a new direttor of music. The fund5 ralsed from the 1250 anniversary events have been eam)arked for ￿treach use, and a small amount has already been used to fund a tn"p to Penhurst for the Alpha group and also for palm crosses and leavers books for local schools. There Is a lot to look forward to in 2024 as our new Deacon will be joinTrng us In June, and the new DI￿ttOr of Muslc In September. 2024 is once again going to be a ohallenging year and there are several projects that are going to need fundraising and investigation into the poSsi￿Y of extemal funding, all of which takes ￿me as extemal morw 15 never"easy- to obtaln. Ov•rall, St Mlchael's commenl A very generous unre5trirted legacy of £54.285 was receoved during the year trom Lillian Frances A￿strong. Varfous fundraislng activfjtles were carrled out durfjng the year, such as foijr jumble sales, a Mlchaelmas Fair and a three and a half day Christmas Tr￿ Fests"val. Tr amount raised by the Christmas Tree Festival was hlgher than the previous year, and tt* income from ￿￿kir glvlng and from colkcuons were also higher. The pledge of Diocesan parish Sha￿ for St Mithad's was set as £18.OIJO at the start of 2023 and thls was pald in fvll during the year. Thls pledge was less than the Parish Ministry C05t advised by the dlocese. whith was £25,171 for St.Mlchael's. As well as the activibes of the OCC, the acc￿nts for St Michael's also Include a5SOCiated groLrps, belng the Communoty Centre. Lunch Club and Aower Gulld. Reserves Pollcy The free re5erve5 total £93,674 made up as folksws: and £6.737 on the PCC General fund. St. Peters - £23,580: St. Michael's - £63,357 2. The Is to have enough reserves to cover at beast six months running expenses to prevent disruptson to the servkes we provide. 3. St Peter's has 2.2 months of cover. St Michael's has 21.7 months of cover, due largely to ￿ceipt of a generous legacy during the year whKh is nwther restrirted nor ￿e￿gnated. Both have extra backup funds held in designated fund5 which can be re-allocated. 4. It 15 the PCC'5 policy to Invest temporarlly surplus general hjnds wbth the CBF Church of England Investment and Deposlt Funds. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BEXHILL ANNUAL REPORT FOR 2023 Page 4 5. K8 well as holding the above general reserve5, from time to time the PCC receive5 restrirted income for expenditure for partlcular purposes, defined by the donor or helt1 by groups for speciftc purposes. We aim to expend such money as soon as p055ible, depending on the specific nature of the speciflc objects. At 31 Decernber 2023 the bala￿e of these restncted funds amounted to £376.574. F￿Ure Plans l. To develop the ministry team wlth Rev Co¢k(Toft bas&J at St Mlchael's and Zoe Eborn when she Is ort1ained. 2. To contlnue to Strengthen the Ilnks between the Churches and SCh￿Is to our mutual benefrt. 3. To contlnue to ensure thar'everyone Welcome. Includes chrldren- always bearing in mind the Lord's rebuke to the Lyscoples who wanted to prevent the Ilttje children toming to him. 4. The two churches to work more dosety together 1sttJrgically and sodally. 5. To conunue to think about ways of welcoming those who will inhablt the thousand ￿u5 new houses being built wlthln our parish. 6. To ensure that we remain finanoally viable and to encourage wlse Chrisiian Stewardshlp In all areas - Time. Talents and Givin9. 7. To remember exartly why we exlst as a Churth - to offer the highest standards of worshlp to Almlghty God and to pralse and adore him forever. strurtiirei governarbce and m•n•gement The Parochial Church Councll IPCC) is registered with the Charfjty Commission a5 requirej by the Charitles Art 2011. Its govemlng document is the Parochial Church Counu15 (Powers) Measure 1956. As we are a Team Ministry we also have reg&tered the folk)wing Working Names'.- Bexhill Padsh Team Ministry Bexhtll Parish C*urch of St. Peter St. Mlchael's & Angels Bexhlll The Team Ministry was established by Order of Counol in 1990. During the year the followlng served as members of the KC Ex Officio: Team Rector Revd. Stephen W Need Team Vicar Revd. Carol Cockcroft Churchwaft1ens Miss Catherfne Gllman. Mr Christopher Miles Dlstrlct Wardens Mlss Cathedne Gillman, Mr Chrlstopher Mlles. Mr laln Scott-Dickeson Lay Readers Miss Alison Marchant Deanery Synod Representsts'ves: Dr Roger Elias, Me5sr5 ￿fred King, Chrfjstijpher Miles. Alèn Stephens, Mlsses Catherine Gillman, Alison Marchant. Mrs Rosemary Roberts* Mr5 Hazel Rose+ Mr Malcolm Torrance", Me5dame5 Jill Andrews, Judy Earl. Ruth Elias. Sue Frano. Ellie Miles+, Heidi Miles +. Revd Stephanle Prosstt (Setretary), Mr Nigel Ball (Treasurer) Elected Member5." Co-opted Members: from 27.4.23. *_ from 14.05 23. + = retired 14.05.23 The average attendance at meeb.ngs for the year wa5 89%. Membership of the PCC Is detemiined urKler the Church Representation Rules and consists of certain ex-officio members (Team Rector, Team Vicar, A5Si5tant Vicar, Readers Ilcensed to officiate in the church), the Churchwardens and members of Deanery Synod, Dbocesan or General Synods and up to 11 members of the church who are elected at the Annual Parochlal Churth Meeting (APCM). membe￿ are wam)ly encouraged to stand for election to the PCC. The PCC is reS￿nSIble for a wide range of matters affeth.ng the parish, indudirwj compliance with health and safety and disability legislation and safeguarding. In their capacity as trustees, members of the PCC are responsible for the stewardship of funds and for the appropriate accounting and reporting of the parish finances. At the first meets.ng held after the APCM the new members are we1CM￿ and the PCC Secretary and Treasurer are elected. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BEXHILL ANNUAL REPORT FOR 2023 PJge 5 There are also a number of yjbcomrnittees which ￿pOrt to the PCC and who are responsible for S￿lfiC areas of the church's artivitie5'. Standlng Committee This is the only committee ￿qUIred by Law. It has the power to transact the buslness of the PCC between Its meetlngs, subject to any directions given by the full PCC. It did not meet during 2023. Dlstrfct Churth Commtttees {DCC) The iwo churche5 elert their own ￿C.S, which are represented on the Ffc and each DCC has the power to tran&irt the business of its own Church. Other Commlttees are set up from bme to time for the purpose of advlslng the PCC, with no execuuve power unless expressly given for a parbcular purpose. Rlsk Assesgrnent The PCC has an ongolng task of ￿vIewIng the Major risks which impact on the WO￿ of the Churches In the parish. The usual PAT testing and fire extinguisher checks have been carried out. Approved by the PCC on 17th Aprll 2024 and signed on thelr behalf by Revd. Stephen W. Need Rerttsr P.C.C. Chalrman INDEPENDEKf EXAMINERS REPORT ON THE ACCOUNTS TO THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTZCAL PARISH OF BEXHILL FOR THE YEAR ENDED 31ST DECEMBER 2023 Page 6 l ￿ptsrt on the a¢Cour￿ of the PCC lor the year ent1ed 31st Decemtw 2023, whlch are set out on pages 7 to 22. Resp•ctlve rnsponslbllltl•s of the PCC and examlner As members of the F£C you are respon54ble for the preparation of the accounts,. you consider that the audit requirement of the Churth Accounting Regulations and settion 144(21 of the charitr.es Act 2011 (the 2011 Act) Ilo not apply. It is my ￿SpOnsIbl11ty to-. examlne the accounts under the Church Accounts"ng Regulations and sertion 145 of the 2011 Art; to follow the procedures laid down in the general Dirertions of the Charity Commission under 5ertion 145{5}{bl of the 2011 Att, afM1 to state whether Pa￿"Oj1ar matters have come to my attention. Basls of Independent examIne￿$ report My examination was carrie(1 out in accordance with the General Direttions given by the Charity Commlssion. An examlnatlon Indudes a review of the accounting records kept by the PCC and a comparlson of the atrounts presented with those records. It also includes considering any unusual items or disdosures In the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that wotlld be required in an audit and consequently opinion is given a5 to whether the accounts present a *rue and falr ￿ew, and the report Is Ilmbted to those matters set out In the statemerbt bdow. Independent examlner's statement In connection wlth my examination. no matter has come to my attentbon: whlch glves me reasonable cause to belleve that in any material respect the requlrements.. to keep aCcou￿n9 records in acCOrdar￿ with secbon 130 of the 2011 A(t; and to prepare accounts whith #ccord with the accounting records and comply with the requirements of the Att and Regulats'ons. have not been met; or 2. to which, in my oplnion, attentfion should be drawn In order to enable a proper understandlng of the accounts to be reached. Samantha Whiting FCA Gibbons Mannington & Phlpps LLP 20 Eversley Road, Bexhlll-on-sea, East Sussex, TN40 IHE. 18th April 2024 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BEXHILL Page 7 STATEMENT OF FINANCIAL AcfivITIES FOR THE YEAR ENDED 31sr DECEMBER 2023 Unrestricted Restrkted Endowment Funds Funds Funds Total Funds 2023 2022 Notes JNCOME AND eNDOWMEpifs FROM: Donations and legacles 21al Chantable artlvlties 21bl Other tradlng activities 2{c) Investments 21dl Other recelpts 21el 187,826 2,594 33,770 1.71)0 304 2S,034 345 19,514 10,721 1,179 212.860 2.939 65,284 14.717 1.483 165,477 8,741 45.776 5,930 1,694 12,000 2,296 TOTAL INCOME 226,194 56,793 14.296 297,283 227,618 EXPENDITURE ON: Ralslng funds Charitsble actlvltles 3(a} 3(b) 1,660 193.107 1,199 47.937 2,859 251,532 3,022 255,494 10,488 TOTAL EXPENDITURE 194,767 49,136 10,488 3.808 254.391 258,516 (30,898) 31,427 7.657 42.892 Galnsl(lossesl on Investments NET INCOMEI(EXPENDrruRE) 944 267 5.979 9,787 9,190 52,082 (11,585) (42,483) 34.371 7.924 TRANSFERS BETWEEN FUNDS 15 (3.000) P4ET MOVEMEKf IN FUNDS 37.371 7,924 6.787 52,082 (42,483) RECONCIUATION OF FUNDS Total funds brought forward 373.641 368.650 109,295 851,586 894,069 TOTAL FUNDS CARRIED FORWARD 411,012 376.574 116,082 903,668 851.586 CONTINUING OPERATIONS All income and expenditure ha5 arisen from continuing operations. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BEXHILL BALANCE SHEET AT 31ST DECEMBER 2023 Page 8 Notes 2023 2022 FIXED ASSETS Tanglble Investments 347,890 100,792 448.682 359,710 91,602 451.312 CURRENT ASSEfS Debtors Investments Cash at Bank and In Hand 10.436 313.266 140,476 13.458 321,168 29,401 io 464,178 414.027 LIABILtTIES Credltors - amounts falling due withln one year 11 NET CURRENT ASSErs 9,192 13,753 454,986 903,668 400,274 851,586 TOTAL NET ASSETS PAIUSH FUNDS UnreSt￿cted Restricted Endowment 13 411,012 376,574 116,082 903,668 373,641 368,650 109,295 851,586 Approved by the Parothlal Church Counol on 17th Aprfjl 2024 and sl9ned on tts behaw by: Nlgel Ball P.C.C. Treasurer The Revd Stephen Need P.C.C. Chairman THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIAsfIcAL PARISH OF BEXHILL NOTES TO THE FINANCXAL STATEMENTS FOR THE YEAR ENDED 31sr DECEMBER 2023 P•ge 9 I. ACCOUPMNG POLICIES The flnanclal statements of the PCC. whlth Is a publlc benefit entlty under FRS 102. have been prepared in accordance with the Charities SORP (FRS 1021 'Accounting and Repo￿n9 by Charltles= Statement of Recommended Prartlce applicable to charities p￿pa￿n9 thelr accounts in accordènce wlth the Financial Reporting Standard applitable in the UK and Republic of Ireland {FRS 102) (effective January 20151,, Financlal Reportlng Standard 102 The Financlal Reporting Standard appllcoble In the UK and Republlc of Irelènd, and the Charities Act 2011 and the Church Accountlng Regulations 2006. The financial statements have been prepared under the historical cost conventlon wlth the exceptlon of Investments whlch are Includet1 at market valve, as modified by the revaluation of certaln assets. There are no materlal uncertalntles about the PCCS a￿lIty to contlnue. and so the accounts have been prepared on a golng concern bays. Financial reporting standard 102 - reduced d•s¢losure exemptions The PCC has taken advantage of the following dbsclosure exemption In prepartng these financial ststements, as permltted by FRS 102 The Financial Repot￿n9 Standard applicable In the UK and Republlc of Ireland,: the requlrements of Sectlon 7 Statement of Cash Nows. The finandal statements Indude all tran5artbon5. assets and ￿abIll￿eS for whlch the PCC ts responslble In law. They do not Intlude accoLtnts of churth groups that owe thèir main affiliation to another body, nor those that are Infomial gatherlngs of thurch members. Income All Income Ss recognlsed In the Statement of Financial actlvlves once the PCC has entitlement to the fvrbds, It probable that the Income wlll be recelved and the amount tan be measured rellably. Government grants are recognlsed when the PCC be(Orr￿ uncondltlonally entitled to the grant. For legacles, en￿tlement Is when probate Is granted. the amount known, there are suffident funds avallable for d15trlbutlon or when a distribution Is recelved and the amount can be measU￿d ￿lIably. Expendlture Uabillties are recognlsed a5 expendlture as soon as there Is a legal or construcyve obllgatlon commliting the pcc to that expendlture, It Is probable that a transfer of economic benefits wlll be reqUI￿d in setuement and the amount of the obllgatlon ¢an be measuret1 rella￿y. EXpend￿vre Is accounted for on an accruals basis and has been classlfied under headln9S that aggregate all costs relats'ng to the category. Where costs cannot be dlrertly attr+buted to pa￿CUlar headln9s they have been allrfated on a basls conslstent wlth the use of resources. Apportionments and Alloca￿0￿$. st Peterfs DCC: Secretary's Salary: 58% - Upkeep of Servl 29% - Parish Magazine 12% - Mlnistry 1% - Advertlslng Church Printing and Stationery 99% . Upkeep of Servi￿$ 1% . Advertlsing the Church St. Mlchad's DCC: All expendlture covering a numbw of cost centres was allouted accordlng to artlvlty. The dI0￿San parfsh contrlbuvon Is accounted for when due. Ani parlsh contdbution unpaid at 31st December Is rovided for In these accounts as an operat￿nal IthoLvJh not e9all Ilab116ty and 15 shown as a credltor In the ance Sheet. T•xation The PCC Is exempt from tax on fits tharltable actitht*s. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTXCAL PARISH OF BEXHILL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 Page 10 I. ACCOUNTING POLICIES Foxed A￿ts Conseuated and benefficed property rs not Induded In the accounts In aettsrdan￿ with s.1012){al and (tl of the Charltle5 Act 2011. Movable churth furnishlng5 held by the Team Rector and Churchwardens on 5pecJal trust for the PCC and which requlre a facuty for dlsposal are inalienable property, listed In the church's Inventory. whlch can be Inspected lat any reasgnoble Ume}. For Inallenable property acquired prior to 1st January 2006 there Is Insufflclent CQSt informatlon available and therefore such assets are not valued In the financial statements. Any indlvidual items acquired slnce 1st January 2006, wlth a cost of more than El.000 has been capltsllsed In the accounts and depreciated over thelr useful economic life. All freehold and ￿3$ehOld property is being depreaated over 50 years on a stralght Ilne basls wlth the exceptlon of St. Mlthael's new small h•ll and the land at 22 St. Peterfs Mews. The small hall Is belng depreclated over 40 years on a stral9ht Ilne basis being its guaranteed life. The land ha5 not been depreclated. Depreciation Depreclatlon Is calojlated to wrfte down the cost of tanglble ftxed assets. excludlng freeh)Id propertles, over thelr expected usefvl lives at the fr)Ilowln9 rates: Flxture5 & Fltiln9S 25% strèlght IlrE basls Eqvlpment 25% Straight line basls Investments Flxed asset Investments are stated at market value. Galns and ltysse5 on revaluauon are Included In the ststernent of Flnanckl Artr¥rties. Cash at Bank Cash at bank Indudes cash and short term hfighly Ilquld Investments. Current Assets Investments Current Assets Investments include5 cash hehl on deposlt for investment Pur￿se5. Fund account1119 Unrestrfcted fvnds can be used In accordance wlth the th#rftable objett￿e5 at the dlscretyon of the member5 of the PCC. Restrfrted fund5 can only be used for partScular Pu￿•Se5 within the objerts of the PCC. Restrfctlons arise when speclfied by the donor or when funds are raised for a particular rethcted purpose. Further explanatlon of the nature and purpose of each fvnd Is Induded In the notes to the finandal ststements. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BEXHILL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2023 Page 11 Unrestrirted Restricted Endowment FuDds Furbds Funds Total Funds 2023 2022 2. INCOME AND ENDOWMElnS {al Donations and legacies anned GSvlng: Glft Abd tdonoty.ons Income tax recoverable Other plannet1 glvlng Collertions {open platel at all services Donations, appeals etc. Ilnc. Glft Aid) Income tax recoverable on (kn*bDns. appeals etc Grant Bexhlll Town Councll 78.770 21,327 9,603 15,418 78,770 21,327 9.603 19.250 75,521 21,033 7.252 13.498 3.831 8.391 17,292 25,683 26,583 32 1,910 1,942 2.000 1.610 7.158 12,822 Legacles 54.285 187,826 54,285 211860 25,034 J65,477 Ibl Charftsble artlvities Church Dues for Weddirwjs. Funerals and Burlal of Ashe5 Cholr holiday fees Mlnlbus recelpts 1594 345 2,939 3,257 5,450 34 594 345 2,939 8,741 Ic) Other ttsding activIt￿5 Fund-ralslng and appeals Parish magazlne and bookstall Candles and flowers Sales Rent receivable Indudlng ground rent St Mlchael's hall lettlngs Hire of St Peter's Church Ivens room lettlngs 4,659 1,720 197 7,668 1,720 197 14,329 2,177 549 1.190 18,292 9,224 26,290 12.000 38.290 15.620 738 166 15.620 738 166 15 33,770 19.514 12,lJOO 65.284 45,776 Id) Investments Dlvldends and Interest 1.7(10 1.700 10,721 10.721 2.296 14,717 14,717 5,930 5,930 2.296 (e} Other receipts Losted Haces of Worshlp VAT relmbursement 304 1.179 1,694 304 1,179 1,483 1,694 TOTAL INCOME 226,194 56.793 14,296 297.283 227.618 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIAsfIcAL PARISH OF BEXHILL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2023 Page 12 Unrestricted Restrirted Erbdowment Fund$ Furbds Funds TotJl Funds 2023 2022 3. EXPENDITURE (a) Raising funds Advertlsing the church Stewarylship costs Costs of fvnd raislng events 812 22 826 812 22 2.025 604 149 2,269 1.199 1,660 1.199 2AS9 3.022 {b) Charitable artivities Misslonary and Charltable &vln9: Church Overseas Mlsslonary Societie5 Rellef and Development Agencfjes Home Mlsslons and Other Church Sodetles Secular Charltles Bishop's dlscretionary fund 392 1,020 173 1.719 1.892 197 1.727 197 1,727 22S 1,067 37 210 3,831 4,041 3,163 Mlnlstry.- Dlocesan parLsh share Clergy costs Vlcerage costs Church runnlng expense5 Church maintenance Upkeep of servlces Churchyard and gardening Parlsh magazine and bookstall Training, youth and evangdlsm Cost of cholr holiday and other trlps Hall runnlng costs other property costs Malor repalrs.. st Michael'5 Thurch St Mlchael's Communty Centre Archltert's fees Faculty fees Other professlonal fees Activity groups running expenses Independent examlrer's fees Accountancy fees Bank charges Depreclatlon.. Freehold property Leasehold property 88.910 8.184 L732 20,568 3.290 29.964 1.218 198 138 88,910 8,184 1,732 26.097 11,813 31,490 3,240 2,198 338 705 13.746 24,368 88.910 7,409 4.054 8,5Z3 1,526 2.022 IM75 23,6S3 11,616 29,475 2,297 2,069 404 11,515 9,952 30,522 200 705 9.636 4.110 16.455 7,913 12.810 9.132 1.881 311 9,132 3.621 317 786 3￿71 1.776 3.282 1.740 1.160 786 543 3,285 1,584 3,258 49 3￿71 1.776 3.282 8.540 10,720 i.ioo 10,720 I,ioo I,ioo 193,107 47,937 10,488 251,532 255,494 TOTAL EXPENDrnIRE 194,767 49,136 10,488 254,391 258.516 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIAsficAL PARISH OF BEXHILL Page 13 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31sr DECEMBER 2023 Governance 4. SUPPORT COSTS other Total ChaNtable artlvltles 65 5,058 5,123 Support costs, Induded In the above, are as follows.. 2023 2022 other Bank char9es 65 49 Accountancy fees Independent examlnerfs fees 3,282 1,776 5,058 3.258 1.584 4.842 2023 2022 5. sfAFF COSTS Wages and Salarles Lay Staff, Secretary, Veryer, Organlsts, Cholr and Cleaners Employer's Penslon Contrlbutlons Employer's Natlonal Insurance Contrlbutlons 25,192 25,311 25.192 25,311 The average number of staff employed was: Part rime Choir io 21 20 No employee had ernoluments In exces5 of £60.000 per annum. Payments to PCC Members Alan Stevens {an elected member of the PCC) by trade undertakes general house malntenance and In that capacjty carfed out wot* for the PCC du￿n9 the year to the value of £525. There were no other dlsclosable transartlons In respert of PCC members, nor persons dosely connected to them, nor other related partles. 2023 2022 6. GRAritS PAID DUIUPIG THE YEAR Clara Dlxon Trvst I grants under £l.000 1.320 2,721 3,163 4,041 3.163 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIAsfxcAL PARISH OF BEXHILL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31sr DECEMBER 2023 Page 14 TANGIBLE ASSETS FOR USE BY ThE PCC Freehold Larhd and Buildin9S Leasehold Bulldbng Fixture5 & FittiThg$ Eqyiprnent Total Cost/Valuatio At 1st January 2023 Addition5 Disposals At 31st December 2023 520.641 55.000 13,962 1,303 590.906 520,641 55.000 13.962 1,303 590,906 Depreciation At 1st January 2023 Charge for the year On disposals 191,731 10,720 24.200 1.100 13,962 1.303 231,196 11,820 At 31st Decerrtjer 2023 202.451 25.300 13.962 1,303 243,016 Net Book Value At 31st December 2023 318,190 29,700 347.890 At 31st December 2022 328.910 30.800 359,710 The land and building5 ore as follows and are under the control of the indfvidual DCCS. st. P•ter'5 PCC The leasehold propetty Is a flat at 4 Calverbey Court. 10112 Collington Avenue, Bexhlll-on-sea. The property Is belng depreclated over 50 years on a stralght line basis from 1st January 2001. St. Peter's DCC The freehold land and propertles are 21 St. Peterfs Mews, 22 St Peter's Mews, St Peter's Communty Centre. St Peter's Stsbles and 18 St. Davkl's Avenue. In addition. there are the freeholds of No's. I to 20 St. Peter's Mews. btrt it is the opinion of the valuets that due to the long leases granted thelr values are negligible. 21 St. Peter's Mews, Sl. Peter's Communlty Centre arbd St. Peter's Stsble5 a￿ belng depreclated over 50 year5 on a stralght Ilne basls from 1st January 2001 while 18 St. David's Avenue is bw.ng depreciated over 50 years frorn 1st January 2012. 22 St. Peter's Mews is Ireehold land and 15 therefore not depreciated. St. Ml¢hael's DCC The freehold properties are the two Communty Centre Halls. The large hall are belng depredated over 50 years on a 5trasght line basls from 1st January 2001. The small hall 15 belng depredated over 40 years from 1st January 2003 (being its guaranteed life) on a straight line bas15. Basig of Valuatlon Abbott & Abbott carried out a valuaUon of the Freehold Land and Bulkllngs held at 23rd December 1997 whlch was as follows.. 21 St. Peter's Mews land at 22 St. Peter's Mews St. Petefs Community Centre St. Peter's Stables st. Mlchael's Communlty Centre - Holl No. I 70,000 250 150.000 20,000 30.000 270.250 187.195 IB St. Davld's Avenue is InclLFded at cost St. Mlchael's Communlty Centre Small Hall (Holl 140. 2) 15 Includet1 at cost 63,196 520,641 Abbott & Abbott also Ca￿led out a subsequent valuatlon of the Leasehold Bulldlrbg on 6th February 2001 whlch was as follows.. Nat 4 Calverley Court. 10112 ColllThJton Avenue 55,000 No provlslon has been entered within the finonaal statements for any Ilablllty to maintain the PCC'S or DCC'S buildings. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIAsfIcAL PARISH OF BEXHILL Pa9e IS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2023 INVESTMEt4TS Realised Unrealised M•Yket Gain/ Gain/ Value at Addltlonsl (Loss) for (Loss) for 1.1.23 (DIsP05als) the year the year Market Value at 31.12.23 Market Value at 2022 2,387.90 CBF Investment Fund Shares Income Shares 49,337 688.20 CBF Investment Fund Shares Income Shares 14.220 439. 1 I CBF Investment Fund Shares Accumulatlon Shares 23.277 1,979.69 CBF Nxed Interest Funtd Income Shares 1,487.80 C8F Fixed Interest Fund Income Shares Three Sets of Maundy Coins 4,642 53.979 49,337 1,337 15.557 14,220 2,944 26.221 23,277 2.713 153 2M66 2,713 114 2,154 15 2,040 15 15 91,602 9,190 100,792 91,602 Hostorlcal Cost 2023 2022 2,387.90 CBF Investment Fund Shares See Note See Note 688.20 CBF Investment Fund Shares 589 $89 439. 1 I CBF Imiestment Fund Shares 4.839 4,839 1,979.69 CBF Flxed Interest Fund Shares 3,192 3,192 1,487.80 CBF Flxed Interest Fund Shares 2.402 2,402 Three Sets of Maundy Colns (At Probate Value) 15 15 Notes: The cost of the 2.387.90 Investment Fund shares Is not known as the shares We￿ purchased many years ago. These are held by the Offiaal Custodlan for Charltles. All Investments are held in the UK. 2013 2022 DEBTORS: AMOUNTS FALUNG DUE bvrrHIN ONE YEAR Income tax refunds due Other debtors Prepayments 8.325 8,243 3.463 1.752 13.458 1,223 10,436 10. CURRENT ASSET 114VESThIEi*rs Cash on deposit 313,266 321.168 11. CREDrroRS: AMOUNTS FALLING DUE l+vrtHIN ONE YEAR Accruals Other credltofs 655 8.537 1,133 12,620 13,753 9.192 12. LEASING COMMrrMEP4TS Mlnlmum lease payments under Th)n-Can￿lIable operatlng leases fall due as follows: Between one and five years 2,952 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BEXHILL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31sr DECEMBER 2023 Page 16 13. SfATEMENT OF FUNDS Brought forward Expend- iture Net gafnsl Bpl?nce 1055es Transfers at 31.12.23 Unrestricted funds Oesi nated funds PCC Central fund Good shepherd St. Peter's DCC Property reserye Fabrlc fvnd Organ fund Outreach fund Musical instrument fijnd Events fund St. Mlchael's DCC Fabric fund Defibrlllator fvnd Community centre roof fvnd eneral Funds PCC Central fund St. Peter's DCC St. Mlchael's DCC 21.284 109 2,944 Z4,337 280.510 1,057 2,294 304 (8.$40) 271.970 1.104 47 190 347 17 (327) 4,733 5,057 405 4.733 (4,733) 6.014 375 5.632 6,014 33S S,632 {40} 322,591 4,659 35.977 10.414 710 3.755 133,744 87,985 (8.907) (4.677) (146.141) {35.042) 2,944 317.338 6.737 23.580 63.357 3.000 373,641 226,194 (194,767) 944 3,000 411,012 Restrlctéd funds PCC Central Fund Rector & churchwarLlen dIscret￿nary fund Evellne Armstrong d￿aSed legacy fvnd C development fvnd st. Peter's DCC FabrK fvnd Defibrillator fvnd Flower capital fvnd (capltal) Flower capltal fvnd (income) Organ fvnd Dlrertor of muslc salary fund Junlor church fund Candle capital fund (capital) Candle capital fiind (Income) TFG fun(J Musical instrument fvnd Communications fund Friends of St. Peter's For specific pU￿seS Artivity groups St. Mlchael's DCC Flower guild East window maAntenancÈ Organ fund Artivity gmup - Lunch club Defibrillator fvnd Community centre (capital) CofflmurpAty ￿ntre (Income & expendItu￿) Fabric fvnd m0vir￿ forward For specific purposes 322 322 396 396 1,250 1.250 212,639 381 040 9.118 17 (JI.305) 210,452 398 2,154 114 46 721 Ih84 3Z3 (46) 6.220 (1.236) 5,705 1.484 323 2,866 2,713 153 62 181 273 17 7.546 3,760 6.274 (62) (480) 664 3,625 598 48,510 365 3,898 285 55,432 (330) (624) (3.760) {3.797) 30,307 46 32.830 515 230 363 1,276 230 294 (341) 468 230 363 1,301 3￿96 (3,871) (230) (2,180) 46,220 5,311 547 3,363 19.437 {18.826) 5.922 547 3.363 2,094 S6,793 {2.094) (49.136) 368.650 267 376.574 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIAsficAL PARISH OF BEXHILL NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31sr DECEMBER 2023 Paoe 17 13. sfATEMENT OF FUNDS 8rou91rt forward Expen Iture Net galnsl Balance at 31.12.23 Intome Transfers Endowment funds st. Peter's DCC Capital Income 49.337 4,642 53,979 1,475 {1.475) PCC Central Fund Capital Incon 45.019 14,939 (I,IOD} (7,913) (10,488) 1.337 45.256 16,847 12,821 14,296 (3,000) (3,000) 109,295 5.979 116.082 Total funds 851,586 297,283 {254.391) 9,190 903,668 Detalls of desl9nated ftinds ore 45 folk*ws- PCC Centtsl Fund Good Shepherd The fund was set up a number of year5 ago vthen the Good Shepherd Church was sold. The net sale proceeds were set aslde for the purpose of provlding fijnds for major repalrs or other projerts In addluon to generatlng Incomè and Ca￿ts1 9rowth. St. Peterf D Property Reserve Thls ftbnd represents the net book value of the tanglbk fixed assets hek1 by St. Peterfs DCC. Fabric Fund Monles have been set asbde by the members of St. Pete￿$ DCC for the purpD5es of malntalnlng the fabrfc of St. Peter'5 Churth. Organ FUAKI Monles have been set aslde by the members of St. Pete￿5 DCC for the purposes of malntalnlng the organ at st. Peter's Church. Outreach fund This is the old Parish worker account renamed wtth a transfer of the remaining funds the intension Is to have a fund which can be used to promote outreath. inltially from St Peter's church but as It Is è deslgnated fund the DCC could dedde to redirert fvnd5 else where. An example of it's use could be to improve the slreamlng of servlces. Musical instrument fvnd Monles raSsed dur6ng ￿rtaIn acbvltres have been set aslde by the members of St. Peterfs DCC for the purpose of provldlng and repaldng mu51cal 1rstruM￿ts. Events fund Thls was set up as the 1250 comrnlitee wanted to be able to Identlfy how much was ralsed from 1250 events and for the DCC to have an dernent of discretion as to how It was used, the current thlnklng Is that It should all be transferred to the Out￿aCh fvnd rather than bebng used for the runnin9 of the church, no speclfic purpose for the hjnd ralslng was advertised for the events. It was ag￿e to transfer the balance at l January 2023 to the Olrtreach designated furKI. St. f4ichaels DCC Fabric Fund Monles have been set ask1e by the members of St. Mlthad'5 DCC for the Purposes of malrtalnlng the fabrbc of St. Michaels. Churth. Defibrillator fund Monle5 have been set askle by the members of St. Mlchael's DCC for the purposes of piJrchasin9 a defibrlllator for the church. Community centre roof fund Funds were transferred from St Peterfs PCC to 5t. Mlchael's DCC for the purpose of eamiarkln9 funds toward5 the cost of roof repalr to the communty ￿￿tre. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIAsfIcAL PARISH OF BEXHILL Page 18 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31sr DECEMBER 2023 13. sfATEMENT OF FUNDS Detalls of restrttted funds are as follows-. PCC Central Fund Rertor & Churchwarden DisC￿t￿nary Fund Monles had been recelved by St. Andrew's DCC to be expended at the dlscrevon of the rector and hurchwarden. Followln9 St. Andrew'5 dosure thos has been transfetred to the FCC Central Funds to be used for the same purpose. Eveline Am)stron9 Deceased Le9acy Fund Thls legacy was left to St. Andrew's DCC for vestments. equlpment or furnlture dedltated to the memory of Mrs A9nes Ada Armstrong. Following St. Andrew's dosure thi5 has been transferred to the PCC Central Fund to be used for equipment or furniture to whth these funds could properly be used. PCC development fund A donation was given during 2023 for the purposes of KC development. st. Peter's DCC Fabric fund Thls fund contaln5 legacies and donab.ons speclfically for the malntenance of St. Peter's churrh fabrlc. Defibrillator fvnd Donations have been r￿1ve￿ S￿￿ficallY towards the costs of purthaslng a defibrlllator for St. Peterfs church. Flower capital fiJrKI Many years ago 1,487.80 share5 were purthased In the CBF AxeLI Interest fvnd for the purpose of provldlng Incorne towards the provlslon ol flowers In St. Peterfs thurch. Each year the Interest Is transf*￿ed to the Flower Group to use for thls purpose. Organ fund Monles have been donated for the pur[￿ of malntalnlng the organ at st. Peterfs church. D￿￿ttor of music salary fvnd Donatlons have been ￿CeIved specfifically towards the Dlrector of mu￿(.S salary. Junior Ojurch Fund Monles have been recelveLI speclfically towards the Junlor Churth Candle capital fvnd Many Yea￿ ago 1,979.69 shares were purd)ased in the CBF Fixed Interest fund for the purpose of provldlng Income towards the provlslon of cantdles In St. Peterfs thurch. TFG fiind Donatlons were recebved spedhcally towards the Ylme for God. Inbtlauve mu￿Cal Instrument fund Nonles have been donated and ralsed durlng certsln activltbes for the purpose of provldlng and repalrln9 mLtslcal Instruments. Communications fiind A donatlons was made speclffiolly towards the cost of communbcatk>n wlthln the parlsh. Frlends of St. Peterfs The Friends of St. Peter's Is a separate group with Fts own committee and holds Its owns fvnds. Its purpose Is to ralse funds for spedflc projects to help St. Peter's Church's buildings and fabrlc. Collertions donations for specific purposes Oudn9 the year lunds are collerted, donated or ralsed for 5peclfic purposes. These funds are then expended In the year they a￿ received. In the year ended 31st December 2023 the following items passed through this fund.. Collethons for the followlng.. Christian Aid - Tuvkey & Syria Earthquake Chri5Uan Bllnd Mlsslon Chri5knan5 Against Poverty HUG Leprosy Missbn Martha Trust Donatlons ft*r benches In churchyard 453 169 187 258 529 142 2.022 3.760 Artivity groups A number of groups operate wlthln St. Peter's DCC for specific actlvib"es. All of these groups hold theli funds in their own separate bank accounts and hove their own commrttees. These groups are.. Bellrin9ers group. Flower Guild. Servers Guild. Sewing Guild. Social Commiitee and Cholr group. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIAsficAL PAIUSH OF BEXHILL Page 19 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2023 13. sfATEMEKf OF FUNDS Continuatlon of detalls of restrlcted fvnds: Fl