PAROCHIAL CHURCH COUNCIL
OF THE PARISH OF
ST MARY THE VIRGIN, SHENFIELD
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Charity registration number 1131547
Parochial Church Council of the Parish of St Mary the Virgin, Shenfield
Trustees' Report
Aims and Purposes
The Parochial Church Council of the Parish of St Mary the Virgin, Shenfield (hereafter "the PCC") has the responsibility of co-operating with the incumbent in promoting in the ecclesiastical Parish and among Church members living in surrounding areas, the whole mission of the Church: pastoral, social and ecumenical.
The PCC is also specifically responsible for the maintenance of the physical Church of St Mary the Virgin, Shenfield (hereafter "St Mary's" or "the Church").
Objectives and Activities
The PCC is committed to welcoming local people to worship at St Mary's 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 involve the various groups within the Parish profile. Our services and worship put faith into practice through prayer and scripture, music and the Eucharist.
When planning our activities for the year, the Incumbent (at present the Churchwardens) and the PCC consider the Charity Commission’s guidance on public benefit and, in particular, the specific guidance for charities on the advancement of religion. In particular, we try to enable ordinary people to live out their faith as part of our Parish community through:
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worship and prayer
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provision of pastoral care for people living in the Parish
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missionary and outreach work
To facilitate this work it is important that we maintain the fabric of St Mary’s Church.
Achievements and Performance
Worship and Prayer
The PCC is keen to offer a range of services during the week and over the year that our community finds both beneficial and spiritually fulfilling.
At the 9.30am Parish Eucharist, the Footsteps creche (led by Debbie Catton) for younger children has been reintroduced this year following the coronavirus restrictions and a Trekkers table for older children has been introduced at the back of the Church for the 2[nd] and 3[rd] Sundays.
For those seeking a quieter and more reflective environment for worship, there are early and late services on Sundays (including Evensong on the first Sunday of the month), plus a mid-morning Eucharist service on Thursdays.
The ministry team aims to make services welcoming and easy to follow. Booklets are produced to ensure that both regular worshippers and visitors alike can follow the services and understand the
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message of the Gospel. We are hoping our new Incumbent will be keen to share with the congregation the variety and richness of Christian liturgy. Suzanna Brooks, our Director of Music, liaises with the Incumbent to ensure that the music complements the changing themes of the liturgical year.
During 2022, following the relaxation of Covid restrictions, the church was able to resume the pattern established previously of celebrations of the Eucharist at 08.00 and 09.30 on Sundays; and at 11.00 a.m. on Thursday mornings. This year the church was able to hold a Christingle service and 3 Family Carol services for the first time since 2019.
As well as our regular services, we enable our community to celebrate and thank God at the milestones of the journey through life. Through baptism we thank God for the gift of life; in marriage, public vows are exchanged with God’s blessing; and through funeral services, friends and family express their grief, give thanks for the life of the departed and commend their soul to God’s keeping. In 2022 at St Mary’s we celebrated 56 baptisms (2021: 31) and 2 marriages (2021: 1). Additionally, the ministry team led a total of 16 funeral services (2021: 18): 13 services in Church, 3 services elsewhere and 13 interments of ashes. (2021: 11, 7 and 15 respectively).
We are delighted to welcome both children (Year 6 and over) and adults to learn more about their faith through Confirmation classes and then affirm their faith fully by being confirmed. 16 people were confirmed in 2022 (2021: 38). At 31 December 2022 there were 505 parishioners on the Church Electoral Roll (2021: 488), 227 of whom are resident in the Parish and 278 outside of the Parish (2021: 318 and 170 respectively). The Electoral Roll was renewed in 2019 so the new roll was approved at the APCM in 2020.
Pastoral Care
Activities normally undertaken by St Mary’s Church prior to the introduction of Coronavirus restrictions include the following:
Footprints, a mother and toddler group run by a team from St Mary's. In February each year there is a Baptism Party for the families of those baptised in the previous year, but this was cancelled in 2022 due to the Coronavirus situation. A Baptism Preparation Team visits families and provides support on the day of the service.
A Book Group and a Craft Hub both offer company/fellowship whilst raising funds to support St Mary’s chosen charities.
During the pandemic, the weekly ‘TheLink’ - distributed across the parish in electronic form - has lived up to its name. In addition to parish news, those in need as well as departed loved ones are listed, to be remembered and prayed for at services.
A team of volunteers, organised by St Mary’s members, has provided invaluable assistance to the elderly and vulnerable in the Brentwood area during the Coronavirus pandemic restrictions, dealing with shopping requests, deliveries and any emergencies.
Other groups that usually meet regularly are St Mary's Open Branch (led by Rosemary Eaton since September 2022), Shenfield Mothers' Union (led by Heather Mann), and the Dads' Group (led by Father Chris Mann until 11 September 2022). St Mary’s Open Branch resumed their monthly
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meetings from September 2021 following Coronavirus pandemic restrictions. In January 2022 the Mothers’ Union went into abeyance as no leader could be found to take over from Heather Mann who had completed her three year term of office.
Mission
Each year St Mary's supports a number of charities nominated by the Mission and Unity Committee. These comprise of a variety of local, national and international charities. This charitable giving is an expression of our faith at St Mary’s Church. The committee has met for the first time post pandemic in 2022 and decided to continue to support all of our previous charities from 2021, and will look to revise this list for 2023.
In 2022 a total of £253 was raised for the St Mary's nominated charities (2021: £607) purely through Easy fundraising, in the absence of any particular social groups supporting the Charities fund, fund raising projects or Change for Good pots. This makes a total of £19.50 to each of the 13 chosen charities for 2022.
In addition, a total of £1,199 (before Gift Aid) was collected on behalf of specific charities in 2022 (2021: £1,191).
----- Start of picture text -----
2022 £ 2021 £
Children's Society (collecting boxes) 278 578
Crisis (collected in Church in December) 117 103
Norway House 804 510
Total collected on behalf of specific charities 1,199 1,191
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All of the above figures are stated before any Gift Aid that the recipient charities may reclaim.
The Christmas Bazaar held in 2022 was a success raising £1.9k, and this money was put towards Church funds for 2022 (2021: £nil)
Members of the congregation also volunteer directly with Brentwood Street Pastors, Brentwood Foodbank, Mothers’ Union, foodbank.community and Hutton & Shenfield Union church, Community Food Pantry amongst other charities.
Financial Review
Income
Total income in 2022 was £311k (2021: £168k), representing an increase of £143k. 3 legacies totalling £162,550 were received in 2022 (2021: £35,370).
Our regular tax-efficient giving has increased following previous number of years of decline. Tax efficient income via the Parish Giving Scheme meant that for a number of donations we received the Gift Aid automatically in the same month instead of waiting until after the end of the tax year to make a claim. The PCC continues to enthusiastically promote this scheme.
Weekly collections and donations were higher than in the prior year at £17k (2021: £11k) as a result of the Church having more regular services in 2022 than in 2021. The focus has been to continue to encourage giving via the Parish Giving Scheme during 2022.
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Fee income relating to fees from weddings, funerals and baptisms increased this year and totalled £10k (2021: £8k).
Investment income has increased to £21k (2021: £20k).
Expenditure
As a result of a number of factors, total expenditure in 2022 increased to £178k compared to £160k in 2021. Of this, our biggest cost was Parish Share at £120k (2021: £120k). The actual amount paid to the Diocese was 75.0% of our budgeted share request of £160.1k (2021: 77.0%), resulting in an underpayment to the Diocese of £40.1k (2021: £35.9k underpayment).
However, we could not have even met the £120k made without transferring funds from the Lewis Fund to the General Fund. In 2022, £26.6k was transferred from the Lewis Fund in order to fulfil the payments made to the Diocese in the year.
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2022 share
request £
Direct ministry costs 51,996
Contribution to future training 16,725
Contribution to services to Parishes 17,379
Contribution to other shared costs 11,366
Sub-total: Gross Ministry Costs 97,466
Mutual Support Contribution 63,905
Less: fee credits (1,321)
Total Benefice share request 160,050
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The 2023 Parish Share calculation has been revised following a period of consultation by the Diocese. The Parish Share is calculated at the Deanery level and then allocated to the respective Parishes. St Mary’s 2023 Share request for 2023 is as follows:
| 2023 share request £ |
|
|---|---|
| Total Parish share request | 122,2811 |
The increase in expenditure in non-Parish share costs to £58.2k in 2022 is as a result of the Church having more regular services in 2022 than in 2021. Some church repairs such as to the Bell Tower have also been instructed. The PCC have also maintained a strong focus on expenditure in light of the fall of income in recent years.
Church Office & Admin costs have increased to £3.7k (2021: £3.3k). Prior to 2019 our banking services from Barclays were always free of charge but in 2019 they began charging for their services and in 2022 charged the church £0.6k (2021: £0.6k).
Church Running costs have increased to £27.6k (2021: £21.2k), noting an increase in staff costs in 2022.
1 Amount can be reduced by 1% if Parish pays in full by monthly Direct Debit
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Net income and other gains & losses
Net income before transfers and unrealised investment losses was £132k (2021: net income of £7.4k).
The investment portfolio made an unrealised loss in 2022 of £68k due to the fall in global markets in 2022, in contrast to the unrealised investment gain of £41k in 2021.
Reserves
A full breakdown of the movement in Reserves in the year and the position as at 31 December 2022 can be seen in Note 12 (Statement of Funds).
Some of our historic reserves, such as the Fabric and Churchyard Funds, have been depleted by expenditure over the past few years. To avoid further depleting the Lewis Fund, it is advisable to fundraise for specific planned expenses such as landscaping the Garden of Remembrance, Church and Churchyard repairs, and replacing old or outdated items.
Structure, Governance and Management
The PCC is responsible for making decisions on all matters of general concern and importance to the Parish, including deciding on how the PCC funds are to be spent.
The full PCC meets five times a year. Given its wide responsibilities, the PCC has a number of committees, each of which may deal with a particular aspect of Parish life. These committees are all responsible to the PCC and report back to it regularly, with reports of their discussions being received by the full PCC and discussed as necessary.
In addition to these meetings, the Church Representation Rules require that an Annual Parochial Church Meeting (APCM) be held before 31 May each year. All members registered on the Electoral Roll are entitled to attend.
At the APCM, the financial accounts and other reports on the business of the Parish are presented to the attendees. Attendees are also asked to vote on the appointment of PCC members for the 12 month period until the next APCM.
Appointment of PCC members
The method of appointment of PCC members is set out in the Church Representation Rules. The membership of Shenfield PCC comprises a number of ex officio appointments plus 10 elected members.
The ex officio members, who are automatically PCC members as a result of the office they hold, include the incumbent, the churchwardens, the Reader/Licensed Lay Minister and Deanery Synod representatives. With the exception of the incumbent and the Reader/Licensed Lay Minister, these officers are elected or re-elected to their posts at the APCM; annually for Churchwardens, and every 3 years for Deanery Synod representatives.
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Deputy churchwardens, appointed to assist the Churchwardens with their duties, are not ex officio members under the Church Representation Rules. However they may, if they choose, stand for election as an elected PCC member.
The 10 elected PCC members must all have communicated in the Parish Church at least 3 times in the previous year and be on the Electoral Roll of the Parish. Individuals must first be nominated for election to the PCC by a proposer and a seconder. If there are 10 nominees or fewer, the attendees of the APCM will be asked to vote by a show of hands to elect these nominees to the PCC. In the event that there are more than 10 nominees, a formal vote will be taken.
As the incumbent during 2022 until his retirement, the Reverend Christopher Mann held the position of PCC Chairman.
Deanery Synod
Seven members of the PCC sat on the Deanery Synod during 2022 (2021: 7). This provides the PCC with an important link between the Parish and the wider structures of the Church.
Administrative information
St Mary's Church is situated on Hall Lane, Shenfield. It is part of the Diocese of Chelmsford within the Church of England. The PCC is a body corporate (PCC Powers Measure 1956, Church Representation Rules 2020) and a charity registered with the Charity Commission (registration number 1131547).
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The following PCC members Seed during the financial year to 31 December 2022 and untll the date that thi5 Report wa5 approved, 5ubjett to the dates of appointment and retirement below: Ex Officio members The Reverend Christopher Mann lan Eaton Edna Grimble Paul Betts Molly Hoyle Pauline Sweetingham Rector I PCC Chair / Deanery Synod {1) Churchwarden Churchwarden / Deanery Synod Reader / Licensed Lay Minister / Deanery Synod Deanery Synod Deanery Synod Elected and co-o Andrew Barton Paul Bradbury John Brid8er Bill Hindley Pat Masters Juliet Masterson Rachel Patel Norman Randall Linda Ward ed members Chalr of Trustees of Mid-E55ex Anglican Academy Trust {2) Treasurer Fabrfc Officer Tree Officer12) PCC Secretary (co-optedfmm 26July 2022) (from 2022 APCMJ Communicatlons Land Officer (l) Retlred on 30 November 2022. Took last service In St Mory5 Church on 11 September 2022 (2) Deonery Synod {¢o-OPted) Approved by the PCC on 8 May 2023 and si8ned on thelr behalf by Edna Grlmble Ivlce Chalm)an) In absence of an InMbent
PAROCHIAL CHURCH COUNCIL OF THE PARISH OF ST. MARY THE VIRGIN, SHENFIELD
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| INCOME FROM: Donations and Legacies 2a Charitable Activities 2b Other Trading Activities 2c Investments 2d TOTAL EXPENDITURE ON: Raising Funds 3a Charitable Activities 3b TOTAL Net (expenditure)/income before transfers Transfers between funds 5 Net (expenditure)/income after transfers Other recognised gains/(losses): Unrealised gains/(losses) on investments 7 Net movement in funds Total funds brought forward 12 Total funds carried forward 12 Note |
2022 Unrestricted £ 268,438 11,611 3,401 7,028 290,478 275 171,890 172,165 118,313 12,641 130,954 (22,982) 107,972 167,141 275,113 |
2022 Restricted £ 5,652 0 554 847 7,053 - 5,572 5,572 1,481 0 1,481 (4,567) (3,086) 786,441 783,355 |
2022 Endowment £ - - - 13,057 13,057 - 416 416 12,641 (12,641) 0 (40,116) (40,116) 401,221 361,105 |
2022 Total £ 274,090 11,611 3,955 20,932 310,588 275 177,878 178,153 132,435 - 132,435 (67,665) 64,770 1,354,803 1,419,573 |
2021 Total £ 139,113 8,280 15 20,356 167,764 - 160,318 160,318 7,446 - 7,446 41,362 48,808 1,305,995 1,354,803 |
|---|---|---|---|---|---|
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PAROCHIAL CHUACH COUNCIL OF THE PARISH OF ST. MARY THE VIRGIN SHENFIELD CONSOLIDATED BALANCE SHEEr AS AT 31 DECEMBER 2022 2021 Note FIXED ASSETS Tangible Assets 664,954 664,954 Investments s72.1 1.237.844 640,555 1,305,509 CURREKf ASSETS Debtors 20,529 13,169 Inve5tments- Deposits 6,204 Cash at bank and in harHI 162,953 189.768 37,515 56,888 UABILITIES cdItorS. amounts falling due wiihin one year io (8,0391 17,5941 NEf CURRENT ASSETS 181.729 49,294 TOTAL NEf ASSErs li IN1973 1,354,803 FUNDS Vnrestrlrted 12 275,113 167,141 Restrirted 12 783.355 786.441 Endowment 12 361,105 401,221 TOTAL FUNDS IJ54,803 Approved by the Parochial Church Council on 8 May 2023 and stgned on its be by: Mrs E.M. Grimble Vice Chairman lin absence of an Incumbent) / Churchwarden Mr l Eaton Churchwarden
PAROCHIAL CHURCH COUNCIL OF THE PARISH OF ST. MARY THE VIRGIN, SHENFIELD
NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2022
1. Accounting policies
a Basis of financial statements
The financial statements have been prepared under the Church Accounting Regulations 2006 in accordance with all applicable accounting standards, the Charities Act 2011, and the Charities SORP (FRS 102) effective from 1 January 2015 ("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)").
The financial statements have been prepared under the historical cost convention except for Fixed Assets (Tangible and Investment), which are shown at market value. The financial statements 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 affiliation to another body, nor those which are informal gatherings of church members.
The financial statements have been prepared on the accruals basis of accounting. Therefore all income and expenditure relating to the year is brought into the accounts in the year to which it relates irrespective of the date of payment or receipt.
b Fund accounting
Endowment fund - this relates to the Sustentation Fund, being a separate trust which was established in 1950 to ensure the costs of St Mary's clergy could be met in perpetuity. The capital of this fund must be retained permanently whilst any income derived from the endowment may be transferred to the General Fund, where it is used towards St Mary's Parish Share.
Restricted funds arise either where a donor has restricted the use of their donation by stipulating that it be spent in a certain way, or where funds have been raised specifying that they will be used for a specific activity. Where these funds have unspent balances, interest on their pooled investment is apportioned to the individual funds on an average balance basis.
Unrestricted funds are income funds which may be spent on the PCC's general purposes. Within unrestricted funds is the Lewis Fund, which was established to hold funds to be directed according to the discretion of St Mary's Churchwardens. Major gifts and legacies that are not otherwise restricted are directed into the Lewis Fund on the assumption that the donor of a large gift would intend for the funds to be used within St Mary's.
c Income
Planned giving, collections and similar donations are recognised when received. All incoming resources are accounted for gross.
Tax refunds are accrued on donations received in the year and for which a Gift Aid declaration has been received from the donor.
Grants and legacies are accounted for when the PCC is entitled to the use of the resources, their ultimate receipt is considered reasonably certain, and the amounts due are reliably quantifiable.
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PAROCHIAL CHURCH COUNCIL OF THE PARISH OF ST. MARY THE VIRGIN, SHENFIELD
NOTES TO THE ACCOUNTS (continued) YEAR ENDED 31 DECEMBER 2022
d Expenditure
Resources expended are accounted for on an accruals basis and are accounted for gross.
e Fixed Assets
Tangible fixed assets
Consecrated and beneficed property of any kind is excluded from the accounts by s.96(2) of the Charities Act 1993.
All expenditure on consecrated or beneficed buildings is written off in the year it is incurred. Similarly expenditure on individual items costing under £5,000 is written off in the year it is incurred.
Depreciation
No depreciation is provided on freehold property as it is the PCC's policy to maintain these assets in a continual state of sound repair. Material freehold property is revalued every 5 years unless circumstances indicate that a revaluation before the end of this period might materially affect the financial statements.
Investments
Investments are stated at market value at the balance sheet date.
f Current Assets
Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less a provision for amounts deemed to be uncollectable.
g Reserves
The Reserves Policy complies with the Charities Commission's best practice guidance "Charities and Reserves". The policy states that a minimum of 3 months' recurring non-discretionary expenditure should be held within free reserves (i.e. in the General Fund within unrestricted funds) at all times to ensure that costs can continue to be met in the short term if there is a sudden drop in income or an unexpected significant expense.
Monthly recurring non-discretionary expenditure has been calculated at £12,000 per calendar month for the current financial year and therefore a minimum of £36,000 is to be held in the General Fund. Any shortfall will be made up with a transfer from the Lewis Fund (also unrestricted).
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PAROCHIAL CHURCH COUNCIL OF THE PARISH OF ST. MARY THE VIRGIN, SHENFIELD
NOTES TO THE ACCOUNTS (continued) YEAR ENDED 31 DECEMBER 2022
| 2 INCOME ALL Unrestricted Restricted Endowment FUNDS INCOME FROM: Funds Funds Funds 2022 £ £ £ £ a Donations and Legacies Planned giving - Gift Aid donations 73,307 955 - 74,262 Planned giving - Tax Recovery 19,869 625 - 20,494 Weekly collections 10,219 - - 10,219 Donations and other gifts 2,493 4,072 - 6,565 Legacies 162,550 - - 162,550 Non-recurring one-off grants - - - - 268,438 5,652 274,090 b Charitable Activities Fees from weddings, funerals etc 9,560 - - 9,560 Sale of Parish Magazine & guides 2,051 - - 2,051 11,611 - 11,611 c Other Trading Activities Fundraising events: Christmas Bazaar 1,922 - - 1,922 Other events - - - - Other fundraising 1,479 554 - 2,033 3,401 554 - 3,955 d Investments CBF investment income 3,498 847 7,117 11,462 M&G investment income 3,175 - 5,938 9,113 CBF deposit income and bank interest 155 - 2 157 Rental income 200 - - 200 7,028 847 13,057 20,932 TOTAL INCOME 290,478 7,053 13,057 310,588 |
ALL FUNDS 2021 £ 74,160 18,446 6,593 2,146 35,370 2,398 139,113 8,238 42 8,280 - 15 - 15 11,634 8,457 65 200 20,356 167,764 |
|---|---|
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PAROCHIAL CHURCH COUNCIL OF THE PARISH OF ST. MARY THE VIRGIN, SHENFIELD
NOTES TO THE ACCOUNTS (continued) YEAR ENDED 31 DECEMBER 2022
| 3 EXPENDITURE 3(a) EXPENDITURE ON RAISING FUNDS Stewardship costs Fundraising costs Total Expenditure on Raising Funds 3(b) EXPENDITURE ON CHARITABLE ACTIVITIES Mission and charitable giving: Donations to nominated charities Contributions to Churches Together(1) Ministry: Parish Share Other clergy costs Other Charitable Activities: Church running costs Cost of Church services Church repairs Church major structure repairs(2) Church extension Baptism & children's services Parish magazine costs Churchyard upkeep Church office & admin Rent payable Sundry expenses Total Expenditure on Charitable Activities TOTAL EXPENDITURE |
ALL Unrestricted Restricted Endowment FUNDS Funds Funds Funds 2022 £ £ £ £ - - - - 275 - - 275 275 - - 275 - 253 - 253 15 - - 15 15 253 - 268 120,000 - - 120,000 1,873 - 312 2,185 121,873 - 312 122,185 26,138 1,516 - 27,654 4,297 50 - 4,347 5,670 - - 5,670 6,863 - - 6,863 - 1,342 - 1,342 - 902 - 902 729 - - 729 1,294 1,509 - 2,803 3,746 - - 3,746 - - - 1,265 - 104 1,369 50,002 5,319 104 55,425 171,890 5,572 416 177,878 172,165 5,572 416 178,153 |
ALL FUNDS 2021 £ - - 1,053 - 1,053 120,000 2,100 122,100 21,217 2,341 6,138 - - 150 98 3,613 3,308 208 92 37,165 160,318 160,318 |
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(1) Contributions to Churches Together in Hutton & Shenfield and Brentwood Deanery Synod
(2) Bell Tower Structural work, additional £11.5k expenditure expected in 2023 for this project
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PAROCHIAL CHURCH COUNCIL OF THE PARISH OF ST. MARY THE VIRGIN, SHENFIELD
NOTES TO THE ACCOUNTS (continued) YEAR ENDED 31 DECEMBER 2022
| 4 Staff costs 4(a) Wages and salaries During the year the PCC had 3 employees (2021: 3), namely: - part-time caretaker - part-time Director of Music - part-time Administrative Assistant |
2022 £ 15,002 |
2021 £ |
|---|---|---|
| 12,954 | ||
4(b) Payments to PCC members
Ministry and travelling expenses are reimbursed to the Rector. None of these expenses related to his role on the PCC.
Other sundry expenses incurred on behalf of the Church, such as photocopier paper and stamps, were reimbursed to the Churchwardens and other PCC members in the year, but all of these expenses were reimbursements of Church costs and not payment for any service.
| Total transfers between funds Transfers between Funds Investment income from Sustentation Fund |
Unrestricted Funds £ 12,641 12,641 |
Restricted Funds £ - |
Endowment Funds £ (12,641) (12,641) |
|---|---|---|---|
5 Transfers between Funds
The transfer between the Endowment (Sustentation) Fund to the General Fund relates to the transfer of investment income. Under the terms of the endowment, the net income from the Sustentation Fund may be transferred to General Funds as long as the capital remains within Endowment Funds.
There is also a transfer within Unrestricted Funds to keep the General Fund in line with the Reserves Policy detailed in Note 1(g).
The policy is to hold 3 months' outgoings within the General Fund and a transfer of £26,638 transfer was required from the Lewis fund (unrestricted) in 2022 (2021: £nil)
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PAROCHIAL CHURCH COUNCIL OF THE PARISH OF ST. MARY THE VIRGIN, SHENFIELD
NOTES TO THE ACCOUNTS (continued) YEAR ENDED 31 DECEMBER 2022
| 6 Tangible Fixed Assets Freehold Land & Buildings Market value at beginning and end of the year Properties owned by the PCC: Church Cottage, 31 Hall Lane Land at end of Garden of Remembrance Land in Alexander Lane Land between Church and Birley Grange |
Cost £ - - - 5,954 5,954 |
2022 £ 664,954 Market Value £ 650,000 5,000 4,000 5,954 664,954 |
2021 £ 664,954 Revaluation Reserve £ 650,000 5,000 4,000 - 659,000 |
|---|---|---|---|
There is no depreciation charged on any of the Freehold Land & Buildings. Material properties are revalued every 5 years unless circumstances indicate that a revaluation before the end of a 5 year period would have a material effect on the financial statements. The previous revaluation of Church Cottage in September 2020 gave a range of £650k - £675k. The PCC believes it is appropriate to retain the valuation of Church Cottage at £650k.
| 7 Fixed Assets - Investments Market value at start of year Proceeds of sale of investment Loss on sale of investment Disposals in the year Net unrealised (losses)/gains in the year Market value at end of year Historic cost disclosure: Historic cost at the start of the year Less: disposals in the year Historic cost at the end of the year Net unrealised gains/(losses) on investment assets Net realised gains/(losses) on sale of investment assets Net realised & unrealised gains/(losses) on investment assets |
2022 £ 640,555 - - - (67,665) 572,890 2022 £ 449,365 - 449,365 (67,665) - (67,665) |
2021 £ 599,193 - - 41,362 640,555 2021 £ 449,365 - 449,365 41,362 - 41,362 |
|---|---|---|
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PAROCHIAL CHURCH COUNCIL OF THE PARISH OF ST. MARY THE VIRGIN, SHENFIELD
NOTES TO THE ACCOUNTS (continued) YEAR ENDED 31 DECEMBER 2022
| 8 Debtors Accrued Gift Aid recoverable - Unrestricted Funds Prepayments 9 Deposits Cost and Market Value at start of year Interest income Cost and Market Value at end of year 10 Creditors falling due within one year Fee creditors Deferred inscription income Accruals Charities Fund disbursements 11 Analysis of Net Assets by Fund |
2022 £ 18,323 2,206 20,529 2022 £ 6,204 82 6,286 2022 £ 2,871 2,690 1,260 1,218 8,039 |
2021 £ 12,270 899 13,169 2021 £ 6,200 4 6,204 2021 £ 4,172 1,480 774 1,168 7,594 |
|---|---|---|
| Tangible fixed assets Investment fixed assets Debtors Deposits Cash Creditors Net Assets |
Unrestricted Restricted Endowment Funds Funds Funds £ £ £ - 664,954 - 194,666 29,460 348,764 20,529 - - - 3,156 3,130 66,739 87,003 9,211 (6,821) (1,218) - 275,113 783,355 361,105 |
Total Funds 2022 £ 664,954 572,890 20,529 6,286 162,953 (8,039) 1,419,573 |
|---|---|---|
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PAROCHIAL CHURCH COUNCIL OF THE PARISH OF ST. MARY THE VIRGIN, SHENFIELD
NOTES TO THE ACCOUNTS (continued) YEAR ENDED 31 DECEMBER 2022
| 12 Statement of funds Unrestricted Funds General Fund Lewis Fund Restricted Funds Fabric Fund Extension Fund Churchyard Fund Churchyard: Flowers Memorial Garden Young People Fund Soft Furnishing Fund Bell Fund Choir Fund Charities Fund Flowers Fund Fixed Asset Revaluation Endowment Fund Sustentation Fund Total funds |
Realised & Bal b/fwd Incoming Resources Transfers unrealised Bal c/fwd 1 Jan 2022 Resources Expended gains/(losses) 31 Dec 2022 £ £ £ £ £ £ 40,955 127,931 (172,165) 39,279 - 36,000 126,186 162,550 - (26,638) (22,984) 239,113 167,141 290,481 (172,165) 12,641 (22,984) 275,113 15,000 250 - - - 15,250 100,738 847 (1,342) - (4,566) 95,677 - 868 (527) - - 341 250 487 (311) - - 426 960 - (671) - - 289 100 2,418 (902) - - 1,616 1,304 - - - - 1,304 1,069 409 (338) - - 1,140 1,184 1,520 (1,178) - - 1,526 - 253 (253) - - - 882 - (50) - - 832 664,954 - - - - 664,954 786,441 7,052 (5,572) 0 (4,566) 783,355 401,221 13,057 (416) (12,641) (40,116) 361,105 401,221 13,057 (416) (12,641) (40,116) 361,105 1,354,803 310,590 (178,153) - (67,667) 1,419,573 |
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Report to the memb•rs al the PCC of St Mwy th8Virgin shenfi (Clwity No. 11315471 On ac¢ounts for the year ended Regp•¢tlve responslbllltl¢s of The chitls truslees that an audit not rffjuired foT this year ef 144 ofthe Ch¥th85 Act 2011 (th8 char88 Act) and that an tt is my re8Fu)skn'lty to: to folk th8 pJre$ laKt (h> in the geal DITt)S gNen by the Charity Commis¥kn (undgr Secti 14515)(b} ofthe Charitie8 Act, and Baskn of Indopendont examlnerfg Stateme given by th6 Chty Ccxnmissvjn. An exwninatM)n indude8 a revitrw af tho IntsTwj rw)Jrds Wt by the charity and a XnpariSon of thè accounts usual or dMclo8ur88 in the ))nIs. and seeking explanations frcyn the trtee$ con(xming any sh matters. Tho prlures undertaken ncl provide all thè IwKltrK• thal rukl be rwuired in an audit, and conwuentty no opinffi is given as to whether th& acojunts prent and vivw and thg rwt 18 to mthr8 86t out In the Indopffibdt •xamln•rf• •tat•m In c(fftneCti( Vlith my examinatK. no mattw has cLYne to my attention Charitios Act. . to prepare &counts lMch Kcord wilh tho K¢ounting recotd8 and compty with th8 rw4uiremwts ofthe Charli188 A 2. to in my qxnton. attentts)n $trwhJ bo drawn in order to enabkn a 8lgn•d: zz/D ALAN WES WARD R•levant profomlonal qualifutlon Ments L4the Imtiiuie ( Ch•tw•J A(¥>wntani8 in EThJland ar#J Wda8 21 Worryn Ro CM15 8DE