2022-12-31-accounts - The Parochial Church Council Of The Ecclesiastical Parish Of St. Mary The Virgin, Goldington

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THE PARISH OF ST. MARY THE VIRGIN, GOLDINGTON

Annual Report and Financial Statements of the Parochial Church Council for the year ended 31[st] December 2022

The Churchwardens’ Report on the Fabric & Ornaments of the Church and the Deanery Synod Report

The Minutes of the Annual Church Meetings held on 22[nd] March 2022

Incumbent:

The Rev’d Simon Dommett

Bank:

National Westminster Bank 81 High Street Bedford

Independent Examiner:

Andrew Dennison 12 Chepstow Gardens Bedford

Registered Charity No: 1131568

THE CHURCH OF ST. MARY THE VIRGIN, GOLDINGTON

ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31st DECEMBER 2022

Administrative Information

St. Mary’s Church is situated in Church Lane, Goldington, Bedford. It is part of the Diocese of St. Albans within the Church of England. The correspondence address is St. Mary’s Parish Office, Church Lane, Goldington, Bedford MK41 0AP.

Structure, governance and management

The Parochial Church Council (PCC) is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC is a charity registered with the Charity Commission under registration number 1131568.

The method of appointment of PCC members is set out in the Church Representation Rules. All Church members are encouraged to register on the Electoral Roll and stand for election to the PCC.

Members of the PCC are either ex-officio or elected by the Annual Parochial Church Meeting in accordance with the Church Representation Rules. During the year the following have served as members of the Council:

Ex-Officio Members

Vicar:	The Rev’d Simon Dommett
Assistant Curate:	The Rev’d Marcus Ottaviani
Churchwardens:	Colin Last
	Cathy Sanderson (until May 2022)
	Nesta Gedrych (from May 2022)
Licensed Readers:	Michael Furlong
	Cathy Sanderson
Deanery Synod Representatives:	Sue Lennon

Elected Members

Chris Jones (elected in 2020 for three years) [resigned May 2022] Brian Backhouse (elected in 2020 for three years) [resigned April 2022] Nick Fowler (elected in 2020 for three years) [resigned April 2022] Colin Last (elected in 2020 for three years [ ex officio Churchwarden]

Sarah Collinson (elected in 2021 for three years) (Secretary) Chris Hjelt (elected in 2021 for three years) D-J Alino-Wilcockson (elected in 2021 for three years)

Susan Lane (elected in 2022 for three years) Licensed Reader from September 2022 Debbie Richardson (elected in 2022 for three years) Jeff Alino-Abbott (elected in 2022 for three years) (Treasurer) Alan Bates (elected in 2022 for three years)

Committees and Working Groups

The PCC operates through a series of committees in order to carry out its aims and objectives. All these committees have the power to make recommendations but all spiritual, pastoral and financial decisions are made by the full PCC. All committees have agreed Terms of Reference ratified by the PCC in 2019.

Standing Committee

The only committee required by law. It has the power to transact business of the PCC between its meetings, subject to any directions given by the Council. The committee must comprise the incumbent, each churchwarden and at least two other members of the PCC

The committee of St Mary’s comprises the incumbent, churchwardens, secretary, treasurer and at least one ordinary member. Members of the congregation wishing matters to be raised at the PCC should bring them, in the first instance, to this committee for consideration. In general, it meets two weeks before a full Council meeting to prepare the Agenda for PCC meetings and to consider financial and property reports.

Finance Committee

The committee comprises the Vicar, Treasurer, a Churchwarden and the Planned Giving Officer. It supervises budgets and maintains an overview of the parish finances.

Pastoral Committee

The committee prepares Services of Thanksgiving for the bereaved and supports the sick and housebound with prayer and anniversary or other greetings cards. It also organises a Christmas tree bauble scheme in aid of St John’s hospice, Moggerhanger.

Property Committee

The committee is responsible for all aspects of the church fabric, the church hall and currently 1 Atholl Walk and their grounds.

Publicity Committee

The committee arranges advertising and publicity using multiple media and tries to ensure that all activities and events at St Mary’s are well promoted.

Worship Committee

All service planning is considered under the aegis of this committee which regularly reviews our worship. The members meet two or three times a year to check that all scheduling is in hand and that services are running smoothly .

The Health & Safety Officer (currently vacant) reports directly to the Standing Committee of the PCC.

The Parish Safeguarding Officer, Environmental Officer, North Bedford Churches Together and Deanery Synod representatives report directly to the PCC.

Objectives and Achievements

The PCC co-operates with the Churchwardens in promoting in the parish the whole mission of the Church, coordinating and inspiring the congregation in its pastoral, evangelistic, social and ecumenical mission. The PCC is also responsible for the maintenance of St. Mary’s church and church hall in Church Lane, Goldington.

St. Mary’s PCC is dedicated to helping all those living in Goldington and beyond to worship at St. Mary’s without discrimination, to engage with its activities, to develop their spiritual lives and to become part of the family of

God through our Lord’s unconditional love. It is constantly reviewing and developing new ways of involving those who have no background of church life.

We aim to do this by providing services and facilities which will support our work of outreach in the community, by maintaining a framework of church services where worship, praise and prayer can be offered, by hosting courses where people may learn about the Christian message and be encouraged to live it and grow spiritually in a Christian environment and by the pastoral care of our parishioners at focal times in their lives.

The PCC under the chairmanship of the Vicar has complied with its duty to have due regard to the Charity Commission’s guidance on public benefit when exercising any powers or duties to which the guidance is relevant.

The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have due regard to the House of Bishops’ guidance on safeguarding children and vulnerable adults).

In March 2022 there were 122 [123] names registered on the Electoral Roll. Attendance numbers for 2022 began to pick up during the year but have not yet reached pre-pandemic levels. There is still a good core of online worshippers.

5 (2) marriages were celebrated during the year and 14 (19) baptisms. There were 11 (6) funerals in church and 12 (17) cremations. There was 1 confirmation.

Safeguarding continues to be a vital aspect of our church life and under the guidance of Sue Lennon, our PSO we are fully compliant with all the requirements. PCC training is up to date and all DBS checks have been completed or are being processed.

WORSHIP AND PASTORAL CARE

We rejoiced that worship at St Mary’s has now not only resumed its former diversity but has manged to grow with new services settling in and our children’s work going from strength to strength. The regular Sunday and Wednesday morning services remain the keystones to our worship but Taizé and Praise is Rising offer less formal ways to worship looking at new songs which are then introduced into the First Sunday Service. Messy Church is flourishing as a Fresh Expression and has attracted lots of new families as we live out our vision to ‘find new ways to express our faith within our local community’. The diocese also recognised the initiative as an example of what can be achieved. Diddy Disciples provides material appropriate for our young children when they meet in the hall before joining the rest of the church family in the 9.30 am Sunday service. Cathy Sanderson and Amanda Ottaviani with their dedicated teams coordinate these groups and we owe them a huge debt of gratitude for their hard work and enthusiasm. The choir continues to lead the musical aspect of our main services and although still small in number practises each week and sings a wide variety of anthems and motets at the Parish Communion and for the seasonal services. We were able to hold the usual Festival of Nine Lessons and Carols with a good number of singers including our faithful extras and former members some of whom travel quite a distance to join us. Andy Thomas now plays the organ about once a month and this is a very welcome addition to our musical offering. Jane Davey and Helen Nightingale with Tanya Fearon skilfully head up the music for the First Sunday service using piano and guitar accompaniment. The ‘tech team’ produces professional standard online worship which is much appreciated by those who are unable to attend in person. The Signing Group still adds to the First Sunday service and it has been a joy to hear the bell ringers in full swing once more under the direction of the Tower Captain Jenny Thompson. The Welcomers’ Team is always in place at each service ensuring that old and new are greeted with a smile and given any assistance they need. Inside the church our worship is enhanced by the beautiful floral arrangements created by Sally Gilbert and her team. An amazing variety of worship is therefore in place to which has also been added a monthly Communion service for those living at Oakhill.

Covid restrictions have been removed and although Communion is still given by intinction it is hoped to resume the use of the common cup in the New Year.

All the worship has been led by our Ministry Team headed by Simon Dommett our vicar, Jennie Cappleman - associate priest and Marcus Ottaviani - assistant curate. They are ably supported by the Licensed Readers Michael Furlong and Cathy Sanderson and by Susan Lane who joined them in September. Sue Lennon is our Lay Leader of Worship.

The pastoral care of the congregation is always at the forefront of our Christian ministry and during the year Susan Lane took over the chairmanship of the Pastoral Group from Chris Jones who had served so devotedly for many years. Cards were sent out to those in need of support and visits arranged. Prayer is constantly offered up by the Prayer Fellowship and others as we sought to ensure that spiritual care was available for everyone.

PROPERTY

The tireless Property Committee continued to maintain the fabric of the church and hall, both inside and out, and keep the grounds in a good state. All the recommended Quinquennial Report work was completed and the next review is due in 2024. Thanks to the efforts of Richard Cope the south porch was renovated with new illuminated noticeboards. He hopes to finish the structural timber replacement in 2023. Various minor replacements and repairs were carried out and a comprehensive annual maintenance schedule implemented. The chancel priests’ door was weatherproofed.

Colin Last continued his work on the Zero Carbon Project and plans are in hand to reduce our utility usage and encourage more in the way of recycling. Swift bird boxes were installed in the church tower and we look forward to them providing nesting for the swifts this summer. Some of the suggested steps for becoming carbon neutral are controversial and expensive but this should not discourage us in our efforts to become a zero carbon church.

MISSION, CHARITY AND OUTREACH

As a key element of our Mission Action Plan mission and outreach have been very much in evidence. The many social and group activities began to flourish again with the removal of Covid restrictions and we welcomed the opportunity to provide a ‘Warm Space’ giving people a place where they can be warm, have drinks and snacks and enjoy playing board games and chatting at a time when cost of living increases have caused suffering for so many people. Heather Dommett has spearheaded this initiative with a team of loyal helpers and ensured that it become a wonderful time of fellowship in the community - endorsed and supported by our local councillors. It is now hoped to continue this for the foreseeable future.

Included in our outreach are Messy Church and Diddy Disciples and these have both seen an increase in attendance. Marcus Ottaviani organised a Christian Children’s Holiday Venture with Hope Church in the hall during the summer holidays

The annual Fetes and Fairs were also reinstituted and saw good crowds come in from the locality and this year we celebrated the Platinum Jubilee of her Majesty Queen Elizabeth II with a Bring and Share picnic. North Bedford Churches Together continued to bring the various churches together with its programme of events and services such as the Remembrance Day Service on the green and the Palm Sunday worship. .

Other groups, which include non-church members, such as Knit & Natter, the Short Mat Bowls and Walking Groups and the Breakfast Groups met more regularly again this year.

So much of our social outreach and mission is underpinned by the Catering Group, from after service refreshments to sumptuous lunches at the summer and autumn fair, and we thank them for providing such wonderful hospitality.

To advise everyone of all these events is mainly the remit of the Publicity Group (although nothing beats word-ofmouth invitations!) and our activities are widely advertised by means of Pews News , Facebook and the magazine Parish & People which is issued monthly by the Editorial Team both online and as a printed edition.

Charitable giving is also a part of our life and the congregation continued to give generously to the Children’s Society under the leadership of Christine Chapman through the house boxes and the Christingle Service. Wendy Watmough organised Christian Aid week again with Dorothy Kirby.

Sadly at the end of the year it became obvious that, for various reasons, not least the passing into administration of Traidcraft, it was no longer possible for Andrew and Shelly Dennison to run our Fairtrade Stall after the Sunday services but we continue to promote all Fairtrade goods and urge the congregation to use other outlets stocking these.

Our tenancy pack project "Dwell Well Support Bedford" has continued to provide much needed help to those moving into temporary or permanent accommodation. St Mary's has given out around 100 boxes since 2021 and has linked in well now with the local authorities and local charities who help with refugees, homelessness, the Foodbank, modern day slavery and domestic abuse victims and Probation. Dwell Well has also been consistently supported by donations from church members and local residents along with funding from the council and Deanery Mission Fund. Lastly, Dwell Well & St Mary's have been invited to become part of the Deputy Lieutenant of Bedford's Bridging the Gap Homelessness Coalition which seeks to bring all Bedford partners together who are currently helping those struggling with homelessness, so no-one falls through the gaps.

As a PCC we concentrated on various aspects of our Mission Action Plan making this the main focus of several of our meetings.

Safeguarding requirements and recommendations have all been met and always brought to the attention of the PCC and the safety of the congregation has been strengthened with the publication of the Terrorist Prevention Plan, Fire Risk Assessments and Disaster Recovery Plan all of which have been produced by the Churchwardens and others involving many hours of preparation.

At the end of the year the PCC embarked on the exciting journey to find a Children and Families Minister for the church and plans for this are ongoing.

We enter 2023 at a time of international turmoil and national unease but look forward to seeing our new King, Charles III crowned in May. The reign of Queen Elizabeth was long and eventful but her entire life was lived as a model of Christian love and generosity. May we at St Mary’s follow her example in our own lives as we ‘grow together as a worshipping church family, seeking to know Jesus better and to find new ways to express our faith within our local community.’

Financial Review for the year 2022 (figures are rounded to nearest ‘000 for ease of understanding)

With the end of the restrictions required by the Coronavirus Pandemic, church attendance and regular income has substantially recovered and been augmented by a number of one-off donations from Church members. Our costs have, for the most part, remained consistent – largely due to the fixed rate contracts that are in place for our use of electricity and gas.

The Parish Giving Scheme has been a success and has replaced regular cash giving in most cases, although around 30 members continue to use standing orders and envelopes. The Scheme requires regular donations to be made by direct debit and saves the Stewardship Recorder from having to maintain records to support gift aid tax claims.

The summer and autumn fetes were very successful in 2022 and several other social activities took place. By the end of the year hall lettings had returned to a normal level with few vacant slots now available. In addition, two legacies from former Church members were received amounting to £5,000.

Once the subsidence repairs to 1 Atholl Walk had been completed it was possible to put the property up for sale. The costs were met by the Insurers with the PCC required to make a contribution of £1,000. The house was sold at the end of January 2022. The PCC did not own the property and has no income arising from the sale. The arrangement with the Diocese for the Curate’s house at Hatfield Crescent is on a different basis, with a notional annual rental of £4,000 being charged to the Parish. Parish Share contribution was otherwise little changed.

There were no major repairs carried out in 2022 or other exceptional items of expenditure. Electricity costs will increase significantly in future years, but the PCC has a fixed price contract in force for gas usage which has one more year to run. The PCC can report a break-even position for the year, and we will be reviewing all aspects of our income and expenditure in the light of the forthcoming anticipated rise in utility costs.

The market value of long-term investments decreased by £9,000, arising from volatility in the financial markets. As with the gains enjoyed in 2021, losses of this nature do not give any indication of future performance.

The PCC sets aside 5% of stewardship income, plate collections and gift aid tax recovery for missionary giving. This is shared between support for the work of our CMS mission partner, Heather Johnstone, at the Rehema Project in Tanzania (¾) and WaterAid (¼). The resulting donation amounts for CMS and WaterAid were consistent with the previous year. A full list of charitable donations appears in Note 9 to the Financial Statements.

Reserves Policy

The church is partly an historic building and, therefore, expensive to repair as modern materials and methods are usually not permitted. Consequently, it is PCC policy to maintain a balance on unrestricted and relevant restricted funds to mitigate the costs of future major maintenance work that has been identified in the Quinquennial survey. A similar policy is adopted for work required to the church hall, although the hall is not subject to a professional survey. No work of any major significance has been carried out in recent years, but some stonework repairs were undertaken in 2022. There are no plans for major work to the church hall but should the old warm air heater fail it cannot be replaced and a completely different system will have to be installed. In recognition of the Church of England’s policy to move to a zero-carbon energy position the Property Committee has been looking at various options of reducing consumption. Initial outlay will be significant and, therefore, the need to set aside a large sum of money remains. The amount set aside for both buildings at the end of the year was £77,000. Funds ‘set aside’ for future expenditure are designated funds and there is no restriction on the money being used for other purposes should this prove necessary.

Where no specific purpose for a legacy is expressed, it is PCC policy to consult with the family as appropriate and put the money to a use which reflects the interests of the donor. The PCC has received several such legacies over the years and the amount remaining unspent stands at £71,000. These gifts comprise a significant part of general church funds.

It is also PCC policy to retain sufficient unrestricted reserves to cover any deficit forecast for the following year plus an amount to cover any adverse cash flow situations that may arise from time to time. The amount required by this policy amounts to £17,000 for the year 2023.

At the end of the year the available unrestricted and relevant restricted funds totalled £150,000. Cash represents £83,000 of this amount and is sufficient to meet the regular cash requirements and the repair expenditure likely to be required in the next two years. Cash funds and the PCC’s long-term investments, taken together, are sufficient to meet the cost of repairs and the commitment to spend legacies on worthwhile improvement projects. The amount to be held in reserve for repair and cash flow purposes is reviewed on an annual basis.

It is PCC policy to invest a proportion of reserve funds in CBF Church of England Investment Funds for long-term growth and income. The remainder in the form of cash is held by Virgin Money and the CBF Deposit Fund. Interest earned on both deposits is now rising due to the bank rate policy of the Bank of England.

Annual report approved by the PCC on 28[th] March 2023 and signed on their behalf by the Rev’d Simon Dommett, Vicar

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Independent Examiner’s Report to the Members of St. Mary the Virgin, Goldington

I report on the Accounts of the PCC of St. Mary the Virgin, Goldington for the year ended 31 December 2022, which are set out on pages 9 to 15.

Respective responsibilities of the PCC and the Independent Examiner

The PCC’s trustees are responsible for the preparation of the Accounts.

The PCC’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to: -

examine the Accounts under section 145 of the Charities Act;
follow the procedures laid down in the General Directions given by the Charity Commissioners in section 145(5)(b) of the Charities Act; and
to state whether particular matters have come to my attention.

B asis of Independent Examiner’s statement

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the PCC and a comparison of the Accounts presented with those records. It also includes consideration of any unusual items or disclosures in the Accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in a full audit, and consequently no opinion is given as to whether the Accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent Examiner’s statement

In connection with my examination, no matters have come to my attention:

which give me reasonable cause to believe that in any material respect the requirements: -
to keep accounting records in accordance with s.130 of the Charities Act; and
to prepare Accounts which accord with these accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the Accounts to be reached.

Andrew Dennison FCA 12 Chepstow Gardens, Bedford

PAROCHIAL CHURCH COUNCIL OF ST. Awiy THE VIRGIN. GOLDINGTON STATEMENT OF FINANCIAL ACTIVtriES For the year gnd¢d 31 Docamb•r 2022 UnrestrKd RestrK#ed Er•jOw TOTAL FUNDS Note Funds Funds Fun¢J$ 2022 2021 INCOME Voluntsry income Actswtses for genefating fund5 Income from investrnents Church actlviknes TOTAL INCOMING RESOURCES 2{a) 2(b} 21c) 21d> 63,735 19,286 3,128 6.665 70,4th) 19.286 3,202 9,436 102.324 93.853 26.076 2,538 5.923 128,390 74 95.585 6.665 74 EXPENDITIJRE Chureh actiwties Costs ot generabon ot inco Major repair$ and depreciati Support costs TOTAL RESOURCES USED 3(a) 31b> 31c) 3(d) 98.225 269 1.389 1.518 101.401 732 98,957 269 1.389 1,518 102.133 96.075 789 742 1.395 99,001 732 NET INCOMEI(EXPENDITUREI GainllL0551 on revaluatton of in¥esl NET MOVEMENT IN FUNDS TOTAL FUNDS BRouGF FORWARD TOTAL FUNDS CARRIED FORWARD {5.81n 9,054) (14.870) 181,632 146,762 5.933 74 191 (1171 191 9.245) 19.054) 173,292 164,238 29.389 6.183 35.572 137.720 173.292 5.933 7,726 13.659 3,817 BALANCE SHEET at 31 Do¢anb•r 2022 FIXED ASSETS Tangible fixed assets 5(a) 4.223 65.516 69.739 4.223 1.446 66,962 71.185 76,207 CURRENT ASSETS Strtk of gcods for sate Oeblors & prepayments Short term depog 4.693 74.051 5.296 84.040 UABILITIES: Amourts due ¥ilhin one year 7 01 NET CURRENT ASSETS 77.023 6.958 80.220 13.895 101.127 2.371 83,422 13,087 107,286 8.233 93,053 7.791 14,875 1.216 13.659 2,371 2.371 92,723 TOTAL NEf ASSETS 146,762 13.659 3,817 164,238 173,292 PARISH FUNDS unfestr.cted Restricted 146.762 146,762 13,659 3,817 164.238 161.632 7,726 3,934 173,292 13.659 3,817 3,817 146,762 13,659 Approved bythe Parothial Chur¢ Cwndl on 28 Marth 2023 and signed on its behalf by.. The Rerfd S P Dommett S E Cdlinson

PAROCHIAL CHURCH COUNCIL OF ST. MARY THE VIRGIN, GOLDINGTON

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2022

1 ACCOUNTING POLICIES

Basis of preparation

The Accounts have been prepared under the Church Accounting Regulations 2006 in accordance with the current Statement of Recommended Practice, Accounting and Reporting by Charities and is in compliance with accounting standard FRS102.

The Accounts have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at a fair value. 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 nor those that are informal gatherings of Church members.

Funds

Endowment funds are funds, the capital of which must be maintained; only income arising from investment of the endowment may be used either as restricted or unrestricted funds depending upon the purpose for which the endowment was established.

Restricted funds represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and (b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund. Where there is no separate investment, interest is apportioned to individual funds on an average basis.

Unrestricted funds are general funds which can be used for ordinary PCC purposes. Funds designated for a particular purpose by the PCC, such as the church repair fund, are also unrestricted.

Incoming Resources

Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the income to which they relate is received. Grants and legacies are accounted for when the PCC is legally entitled to the amounts due. Dividends are accounted for when receivable; interest is accrued. All other income is recognised when it is receivable.

Gifts in kind for the PCC’s own use are included in the SOFA as incoming resources at their fair value when receivable, and expensed as and when consumed in use. Gifts of fixed assets, if material, are included in the balance sheet at their fair value and expensed over the asset’s useful economic life.

All incoming resources are accounted for gross. Amounts generated specifically for mission are dealt with as restricted funds. Amounts received for mission in which the PCC acts only as an intermediary are not shown as income of the PCC, except where the PCC is involved in the fund-raising process.

Rental income from the letting of church premises is recognised when the rental is due. Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at 31[st] December.

The value of any donated services or voluntary help received are not included in the Accounts but are described in the trustees’ annual report.

Resources expended

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the PCC. The diocesan parish share is accounted for when due. Any parish share unpaid at 31[st] December is provided for in these Accounts as an operational (though not a legal) liability and is shown as a creditor in the balance sheet. All other expenditure is generally recognised when it is incurred and is accounted for gross.

Fixed assets

Consecrated and beneficed property of any kind is excluded from the financial statements in accordance with S.10(2)(a) and (c) of the Charities Act 2011. All expenditure on consecrated or benefice buildings, whether maintenance or improvement, is written off as expenditure in the Accounts in the year in which it is incurred.

Land and buildings held for the functional use of the PCC are valued at original cost, less provision for depreciation. Buildings are depreciated over a period of 50 years; pre-fabricated buildings are assumed to have a useful life of 25 years. Additions to existing buildings, which do not substantially extend the life of the asset, are written off over the remaining life of the original building. Land is not depreciated.

Movable church furnishings held by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property. They are listed in the church’s inventory, which can be inspected at any reasonable time. For anything acquired prior to the year 2000 there is insufficient cost information available and therefore such assets are not valued in the Accounts. Subsequent to this date no individual item has cost more than £1,000, so all such expenditure has been written off when incurred.

Fixtures & fittings and equipment used within the church premises, including moveable church furnishings, are depreciated on a straight-line basis over four years. Individual items with a purchase price of less than £1,000 are written off when the asset is acquired.

Investments are valued at a fair value, which is deemed to be the market value at 31[st] December.

Current assets

Amounts owing to the PCC at 31[st] December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectable.

Short-term deposits comprise cash held on deposit with Virgin Money plc and the CBF Church of England Funds.

PAROCHIAL CHURCH COUNCIL OF ST. MARY THE VIRGIN, GOLDINGTON

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2022

2 INCOME 2(a) Voluntary income Planned giving: Gift Aid donations Tax recoverable on gift aid donations Other planned giving Collections at all services Donations and appeals Tax recoverable on other gift aid donations Tax recovered on small donations (GASDS) Donations for missions and charities Legacies Grants received Government grants received 2(b) Activities for generating funds Fetes, bazaars, and other fund raising events Church hall lettings Rental income, 1 Atholl Walk Sales of purchased and donated goods 2(c) Income from investments Dividends and interest 2(d) Income from Church activities Magazine Donations for use of church hall Social events Church fees TOTAL INCOME	Unrestricted Restricted Endowment TOTAL FUNDS Funds Funds Funds 2022 2021 £ £ £ £ £ 34,909 - - 34,909 33,887 7,455 719 - 8,174 8,495 14,555 - - 14,555 15,773 2,517 514 - 3,031 1,746 2,660 272 - 2,932 7,669 84 - - 84 927 555 - - 555 1,255 - 1,160 - 1,160 1,381 1,000 4,000 - 5,000 3,000 - - - - 422 - - - - 19,298
	63,735 6,665 - 70,400 93,853
	2,803 - - 2,803 3,579 16,082 - - 16,082 13,979 346 - - 346 8,340 54 - - 54 178
	19,286 - - 19,286 26,076
	3,128 - 74 3,202 2,538 55 - - 55 51 - - - 75 1,719 - - 1,719 1,410 7,662 - - 7,662 4,387
	9,436 - - 9,436 5,923

	95,585 6,665 74 102,324 128,390

PAROCHIAL CHURCH COUNCIL OF ST. MARY THE VIRGIN, GOLDINGTON

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2022

3 EXPENDITURE 3(a) Church activities Missionary & charitable giving: Church overseas: - missionary societies - relief and development agencies Home missions and other Church societies Secular charities Ministry: Diocesan parish share Other ministry costs & housing Parish training and mission Church running & maintenance expenses Upkeep of services Upkeep of churchyard and grounds Church hall running costs 3(b) Costs of fund raising activities Cost of fetes, fairs and social activities Cost of purchased items for sale Costs of Christian Stewardship 3 (c) Major repairs and depreciation Church repairs & furnishings Depreciation of buildings Depreciation of church hall fixtures & fittings 3(d) Support costs Printing and stationery Office equipment & computer software Parish office telephone Other costs TOTAL EXPENDITURE	Unrestricted Restricted Endowment TOTAL FUNDS Funds Funds Funds 2022 2021 £ £ £ £ £ 1,723 562 - 2,285 2,291 969 - - 969 1,185 - - - 135 1,884 1,884 1,912
	4,576 562 - 5,138 5,523 60,536 - - 60,536 60,132 7,391 - - 7,391 14,925 396 - - 396 1,154 10,128 170 - 10,298 7,011 1,082 - - 1,082 823 170 - - 170 13,946 - - 13,946 6,506
	98,225 732 - 98,957 96,075
	215 - - 215 530 54 - - 54 171 - - - - 142
	269 - - 269 789
	1,250 - - 1,250 - 139 - - 139 139 - - - - 603
	1,389 - - 1,389 742
	677 - - 677 615 87 - - 87 220 316 - - 316 334 438 - - 438 226
	1,518 - - 1,518 1,395

	101,401 732 - 102,133 99,001

PAROCHIAL CHURCH COUNCIL OF ST. MARY THE VIRGIN, GOLDINGTON

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2022

4 (a) STAFF COSTS

STAFF COSTS 2022 2021 £ £ Wages and salaries 6,172 2,877

During the year the PCC employed a verger, hall caretaker and a hall manager. All positions are part-time.

(b) PAYMENTS TO PCC MEMBERS & RELATED PARTIES

No transactions have taken place with related parties.

No trustee has received payment for services provided or expenses incurred as a trustee. Mr Antony Collinson (verger, husband of Sarah) received £594 for verger's fees at weddings & funerals. Further verger's fees of £520.80 were paid to PCC members who acted as vergers at weddings and funerals Apart from the above, no other payments were made to any PCC member, persons closely connected to them or related parties except for the reimbursement of purchases made on behalf of the PCC.

5 FIXED ASSETS FOR USE BY THE PCC

FIXED ASSETS FOR USE BY THE PCC
(a) Tangible fixed assets (all unrestricted) ACTUAL/DEEMED COST at 1 January 2022 additions disposals at 31 December 2022 DEPRECIATION at 1 January 2022 charge for the year withdrawn on disposals at 31 December 2022 WRITTEN-DOWN VALUE at 31 December 2022 at 31 December 2021	Freehold Land & Buildings Hall Fittings Hall Equipment Total £ £ £ £ 108,414 39,453 3,910 151,777 - - - - - - - -
	108,414 39,453 3,910 151,777
	104,052 39,453 3,910 147,415 139 - - 139 - - - -
	104,191 39,453 3,910 147,554
	4,223 - - 4,223 4,362 - - 4,362

The freehold land and buildings comprise the church hall and Dilworth Room and are shown at their original cost, less provision for buildings amortisation. Land is not amortised. The hall and contents are valued for insurance purposes at £2,900,000 and this is considered to be a fair estimate of the current value in use of the property.

The house at 1 Atholl Walk, Bedford was held in trust for the parish by St. Alban's Diocese. This property was acquired for £76,215 in 1988 with a loan provided by the Church Commissioners and was previously used to house the curate attached to the parish. The PCC had neither the risk nor rewards of ownership; consequently neither the asset nor liability to repay the loan were taken into these Accounts. The property was sold on 28th January 2022 and the loan repaid.

(b) Investments Fair value at 1 January Revaluation gain/(loss) Fair value at 31 December The following investments are held and are shown at fair value as at 31 December : 10,872 units CBF Fixed Interest Securities Fund - historical cost £18,650 18,408 units CBF Property Fund- historical cost £25,000 1,378 units CBF Investment Fund - historical cost £15,072	2022 2021 £ £ 76,207 70,024 (9,245) 6,183
	66,962 76,207
	2022 2021 £ £ 14,852 17,177 23,654 26,798 28,456 32,232
	66,962 76,207

PAROCHIAL CHURCH COUNCIL OF ST. MARY THE VIRGIN, GOLDINGTON

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2022

6 DEBTORS Income tax recoverable Prepayments for goods and services and accrued interest Other debtors 7 LIABILITIES Amounts falling due in one year: Creditors for goods and services Missionary giving Accrued expenses and deferred income 8 FUND DETAILS Unrestricted Restricted Endowment Funds Funds Funds The PCC funds comprise the following: £ £ £ General 73,213 - - Church repairs 48,333 - - Chancel repairs - - 3,817 Church hall repairs 25,216 - - Others - 13,659 - 146,762 13,659 3,817	6 DEBTORS Income tax recoverable Prepayments for goods and services and accrued interest Other debtors 7 LIABILITIES Amounts falling due in one year: Creditors for goods and services Missionary giving Accrued expenses and deferred income 8 FUND DETAILS Unrestricted Restricted Endowment Funds Funds Funds The PCC funds comprise the following: £ £ £ General 73,213 - - Church repairs 48,333 - - Chancel repairs - - 3,817 Church hall repairs 25,216 - - Others - 13,659 - 146,762 13,659 3,817	2022 2021 £ £ 2,357 1,431 370 1,244 2,050 4,283
		4,777 6,958
		2022 2021 £ £ 850 1,007 4,510 4,301 2,873 3,096
		8,233 8,404
		2022 2021 Total Total £ £ 73,213 89,125 48,333 47,764 3,817 3,934 25,216 24,743 13,659 7,726
	146,762 13,659 3,817	164,238 173,292

The Chancel Repair Fund is a permanent endowment which permits only the income to be spent. Designated funds are unrestricted and may be used for other purposes.

Unrestricted general fund 89,125 94,543 (101,401) (9,054)	church repairs church hall repairs £ £ 47,764 24,743 569 473 - - - - Designated Funds	Restricted Funds others £ 7,726 6,665 (732) -	Endowment Fund chancel repairs £ 3,934 74 - (191)	2022 Total £ 173,292 102,324 (102,133) (9,245)
73,213	48,333 25,216	13,659	3,817	164,238
				£ 249 720
				969
				5,138

Summarised Version of the PCC Income & Expenditure Account for the Year 2022 (This Summary is not part of the formal Accounts.)

Income Planned giving Tax reclaimed on gift aid Collections at church services Donations, grants, appeals and legacies Missionary appeals Fetes & other fund raising activities Rental income, 1 Atholl Walk Fees and other church income Church hall hire Interest and investment income Gains/(losses) on revaluation of investments Expenditure Diocesan Parish Share: - Stipend contribution - Ministry support Clergy housing & expenses Missionary giving Parish mission, adult, children & youth groups Upkeep of services Cost of fund-raising activities and card stall purchases Church and hall expenses: - Running costs - Maintenance of buildings & grounds - Major repairs & improvements Support Costs: - Printing, stationery & office supplies - Parish Office and other general costs Result for the year - Surplus/(Deficiency) of Income Balance Sheet as at 31 December 2022 Land, buildings & equipment – at written down value Investments at market value Cash on deposit Bank balances Amounts owing to the PCC Stock of goods for sale Less amounts owing by the PCC: - Grants to missions & charities - Other items Net Assets Parish Funds: General fund Amounts set aside for special purposes: - Church & hall repairs - Other funds	2022 2021 49,464 49,660 8,813 10,677 3,031 1,746 7,932 30,389 1,160 1,381 2,858 3,757 346 8,340 9,436 5,923 16,082 13,979 3,202 2,538 (9,245) 6,183
	93,079 134,573
	35,056 35,140 25,480 24,993 7,391 14,925 5,138 5,523 396 1,154 1,082 823 269 647 17,848 11,704 6,704 2,555 1,250 765 977 754 560
	102,133 99,001
	(9,054) 35,572 4,223 4,362 66,962 76,207 83,422 80,220 13,087 13,895 4,777 6,958 - 54
	172,471 181,696 4,510 4,301 3,723 4,103
	164,238 173,292
	73,213 89,125 73,549 72,507 17,476 11,660
	164,238 173,292