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← The Parochial Church Council Of The Ecclesiastical Parish Of Branksome St. Clement, Parkstone

2024-12-31-accounts

Branksome St Clements Church PCC Charity Commission Reg. 1131692

The Parish Church of Branksome St. Clements

Year End 31[st] December 2024

Annual Report for AGM

TREASURER’S REPORT

Income received by the Church

Thank you to everyone for your generous donations in both time and money. Our Congregation and parishioners play a vital role to keep our church operating and we were blessed with a £5000 legacy this year from Anne Silk.

Going forward, the sustainability of the church is a concern as the financial activity statement reveals a decrease in total incoming resources however the PCC are aware of this and are looking to explore how additional revenue can be achieved.

How the donations are used at St Clements

The Pie Chart below outlines the financial expenditures related to the church's activities and management. The largest expense is the Diocesan Parish Share at £79,600.44, followed by Hall Running Expenses at £46,886.40. The total expenditure for activities directly relating to the work of the church amounts to £154,307.29, while church management and administration costs are £38,758.06. This indicates a significant investment in maintaining church operations and facilities, with a focus on routine maintenance and running expenses.

Building work carried out in 2024

New Benches

2 new benches were brought using funds from Olive Burch.

Parish Share

The parish share was paid in full in 2023.

We are concerned that careful financial planning is needed in 2024 and are working with the Diocese as the church is currently not showing the sustainability to meet the financial needs to pay the share in full in 2025.

Investments

We have an Endowment Fund under the control of Salisbury Diocese Board of Finance. The value of the shares fluctuated in value throughout 2024 but overall maintained an increase in value. Thus, although shares were sold to the value of £47000, the value of the investment overall only decreased by £25147.99.

The specific breakdown is recorded in the table below under section 5. Fixed Assets.

Branksome St Clements Church PCC Charity Commission Reg. 1131692

Utilities

The gas and electric accounts for the church are on fixed rates.

Utilities – All energy will be with British Gas Lite from Nov 2024
Gas supply to Church 5yr Fixed Rate ends 02/08/26: Unit rate 3.85 p/kWh
Standing Charge 45p/day
Gas supply to Church Hall 5yr Fixed Rate ends 02/08/26: Unit rate 3.85 p/kWh
Standing Charge 45p/day
Electric supply to Church Hall 3yr Fixed Rate ends 28/02/27 Unit rate 32.43 p/kWh
Standing Charge 45p/day
Electric supply to Church New 3yr Fixed Rate began Unit rate 28.38p/kWh
on 7/11/24, ends 7/11/2027 Standing Charge 45p/day

Reserves

£43544.35 was held in unrestricted funds as of 31/12/2024.

Independent Examiner

This year, we have asked Martin Rice to complete the Independent Examination of the church accounts. Martin has kindly completed this as part of his stewardship in his faith and I feel very blessed to have his support.

Thank you

Thank you to everyone who make payments through the Parish Giving scheme. This is not replacing any current method of giving, instead just adding another feather to our bow. This scheme collects money by Direct Debit, with the Gift Aid due being collected monthly on behalf of the PCC. The cost of this scheme is met by Salisbury through the Parish Share. Please see leaflets in the church for more information or contact me either in person or by email on treasurer@stclementspoole.org.uk.

God’s Blessings to all,

Adeeta

Adeeta Knight

PCC Treasurer

St Clements Church

Branksome St Clements Church PCC Charity Commission Reg. 1131692

ASSETS £952565.70

Unrestricted funds, £43544.35, 5%

Investment Fund, £909021.35, 95%

----- Start of picture text -----
This chart shows that from all the assets held, only 5% is available to be used for the day-2-day costs and church mission. The Investment Funds can only be used for
buildings work.
CHURCH INCOME 2024
Gift aid donations
Dividends & interest
16%
23%
Tax recovered
Rent of Flat 4%
9%
Other giving
Other 9%
1%
Collections (open
plate)
5%
Fees for weddings &
Legacies/Gift
funerals
day/Grant
8%
8%
Church hall lettings
8 Sundry donations
11%
Fund raising & special appeals 1%
5%
Support from our Congregation and Parishioners
----- End of picture text -----

39% of income received in 2024 was from our parishioners shown in the above chart as Gift aid donations, Other Giving, Collections (open plate), legacies & Gift day, sundry donations.

Full details are found in Appendix 2 a)

Branksome St Clements Church PCC Charity Commission Reg. 1131692

Income from the Investment Fund

The dividend payments derived from the Endowment funds contributed to the second largest form of income. The dividends income received was for £26804.21. These payments are paid into a CBF account (The Church of England Deposit Fund) with £710.68 received from the generated interest payments from this account.

Interest payments from the bank accounts held generated an income of £62.17.

Full details are found in Appendix 2 d)

Fund Raising and Special Appeals (Full details are found in Appendix 2 b)

£5140 was raised for Romania House of Grace

£320 was raised for Poole -Wau Partnership Charity Trust

£696.73 was raised from Sale of Card and Refreshments sold at events.

Book and Bible reading notes (Full details are found in Appendix 2 c)

A special thank you to Richard Fern for his contributions to this and the production of our AGM accounts, beautifully presented each year.

Income from Operating Activities (Full details are found in Appendix 2 c)

Income from Weddings (£1028) and Funerals (£8539) was £9567

Rental Income received:

Branksome St Clements Church PCC Charity Commission Reg. 1131692

CHURCH EXPENDITURE 2024

----- Start of picture text -----
Christian & other UK organisations
3%
Church management &
admin.
19%
Upkeep of Church
Services
2%
Churchyard expenses Diocesan parish share
2% 40%
Flat: running expenses
1%
Hall: running expenses
24%
Wedding & funeral fees
2%
Clergy expenses inc.
youth work
Church: running 1%
Church: routine mtnce. & repair
expenses
5%
1%
----- End of picture text -----

Diocesan Parish Share

100% of our Parish Share was paid in 2024.

Salisbury launched a new Share System autumn 2024 and the share is now per Parish. . The calculations are based on worshipping communities and deployment.

For our church this means a decrease of £2161.39 for 2025 and the new Share request for 2025 is £77439.00

Hall Running Expenses

Although an income is received from the hall, currently the expenditure is far greater than the income generated. This is due to recent building work completed that has been recorded in this section.

Vital work was carried out to replace the toilets in the hall, costing £36000.00. Please note that in Resource Expended Appendix 3b the hall running expenses without this work completed is £10886.40 to accurately compare to costs in 2023 that were £9424.31.

Shares were sold to pay for this building work. (Please see Section 5b Investment Fixed Assets for full details).

Church Management and Administration

Thank you to everyone who is working hard to support our church and ensure everything is run smoothly. The church management and administration costs are £38,758.06, however this indicates a significant investment in maintaining church operations and facilities, with a focus on routine maintenance and running expenses.

The specific breakdown of the expenditure is recorded in the table below under section 3. Resources Expended.

Branksome St Clements Church PCC Charity Commission Reg. 1131692

The Parish Church of Branksome St. Clement Year Ended 31st December

Statement of Financial Activity
Note
s
INCOMING RESOURCES
2
From donors
2a
Other voluntary income
2b
From operating activities
2c
Investment income
2d
Foodbank
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
3
Grants
3a
Activities directly relating to the work of the
Church
3b
Church management & administration
3c
Foodbank
TOTAL RESOURCES EXPENDED
NET INCOMING (OUTGOING) RESOURCES
GAIN (LOSS) ON INVESTMENT
5b
Proceeds from Shares Sold
NET MOVEMENT IN FUNDS
BALANCES B/F 1st JANUARY
BALANCES C/F 31st DECEMBER
6		 2024
Unrestricted
Funds
General
£
53082.50
6156.73
34730.55
27577.06
121546.84
5553.43
154307.29
38758.06
198618.78
-77071.94
47000.00
-30071.94
73616.29
43544.35		 Restricted
Funds
Endowment
£
0.00
0.00
0.00
21853.01
-47000.00
-25146.99
934168.34
909021.35

This table shows the overall summary of the church accounts.

The numbers detailed under notes refer to the following pages which show the actual breakdown for each total given.

An error was found – a dividend paid November 2023 was not processed and updated into the accounting system until after June 2024. For this reason, a discrepancy of £6450.86 can be seen when compared to the report generated in 2023.

Key notes from this summary:

The financial activity statement reveals a decrease in total incoming resources from £132,000.42 in 2023 to £121,546.84 in 2024. Despite this, the resources expended increased significantly from £160,818.31 in 2023 to £198,618.78 in 2024, primarily due to costs associated with new toilets installed into the church hall. This resulted in a larger net outgoing resources figure of -£77,071.94 in 2024 compared to -£28,817.89 in 2023. Additionally, the net movement in funds shows a substantial decrease, leading to lower balances carried forward at the end of 2024. Overall, the church faced financial challenges in 2024, with increased expenditures and decreased incoming resources impacting its financial stability.

Branksome St Clements Church PCC Charity Commission Reg. 1131692

This page provides a clear breakdown of the income received by the church:

The Parish Church of Branksome St. Clement

Notes to the Financial Statements for the year ended 31st December

2024

2. INCOMING RESOURCES

a)
Income from donors
Planned giving
Gift aid donations
Tax recovered
Other giving
Collections (open plate)
Legacies/Gift day/Grant
Sundry donations
b)
Other voluntary income
Fund raising & special appeals
c)
Income from operating activities
Books & bible reading notes
Church hall lettings
Magazine
Fees for weddings & funerals
Other
Rent of Flat
d)
Income from investments
Dividends & interest
TOTAL INCOMING RESOURCES		 Unrestricted Fund
Endow't
General
Church
Yard
Hall
Youth
Building
Funds
£
£
£
£
£
£
19640.00
235.00
100.00
4869.19
40.00
40.00
10509.44
250.00
0.00
10.00
5844.65
9923.14
1271.08
350.00
0.00
52057.50
875.00
0.00
0.00
150.00
0.00
6156.73
0.00
0.00
0.00
0.00
0.00
58.24
13409.99
0.00
0.00
9567.00
584.50
11110.82
21320.56
0.00
13409.99
0.00
0.00
0.00
27514.89
0.00
0.00
62.17
0.00
107049.68
875.00
13409.99
0.00
212.17
0.00		 Total Funds
£
19975.00
4949.19
10769.44
5844.65
9923.14
1621.08
53082.50
6156.73
58.24
13409.99
0.00
9567.00
584.50
11110.82
34730.55
27577.06
121546.84		 2023
£
17102.70
5080.33
8013.91
4992.45
30378.05
1471.37
67038.81
1128.92
63.60
12427.00
0.00
10821.00
782.40
11074.51
35168.51
28044.18
131380.42		 2023
£
17102.70
5080.33
8013.91
4992.45
30378.05
1471.37
67038.81
1128.92
63.60
12427.00
0.00
10821.00
782.40
11074.51
35168.51
28044.18

The table provides a detailed breakdown of the church's incoming resources for the year 2024, compared to 2023. The total incoming resources for 2024 amount to £121,546.84, which is a decrease from £131,380.42 in 2023.

Key observations include:

Overall, while there was a notable increase in other voluntary income, the decrease in income from donors and operating activities led to a reduction in total incoming resources for 2024. This highlights the need for the church to explore additional revenue streams or enhance existing ones to maintain financial stability.

Branksome St Clements Church PCC Charity Commission Reg. 1131692

The Parish Church of Branksome St. Clement

Notes to the Financial Statements for the year ended 31 December
3. RESOURCES EXPENDED
2024
--------------------------Unrestricted Funds---------------------
Endow't
Total Funds
General
Church Yard
Hall
Youth
Building
Funds
£
£
£
£
£
£
a)
Grants - missionary & charitable giving
Overseas mission societies
0.00
0.00
Christian & other UK organisations
5553.43
0.00
0.00
0.00
0.00
0.00
5553.43
5553.43
0.00
0.00
0.00
0.00
0.00
5553.43
b)
Activities directly relating to the work of the church
Diocesan parish share
79600.44
79600.44
Wedding & funeral fees
3445.00
3445.00
Clergy expenses inc. youth work
1992.55
0.00
1992.55
Church: running expenses
1517.55
1517.55
Church: routine mtnce. & repair
10289.10
10289.10
Hall: running expenses
46886.40
46886.40
Flat: running expenses
2186.88
0.00
2186.88
Churchyard expenses
3333.46
3333.46
Upkeep of Church Services
5055.91
5055.91
101900.55
3333.46
49073.28
0.00
0.00
0.00
154307.29
c)
Church management & admin.
Church management & admin.
38758.06
0.00
0.00
0.00
38758.06
38758.06
0.00
0.00
0.00
0.00
0.00
38758.06
TOTAL RESOURCES EXPENDED
146212.04
3333.46
49073.28
0.00
0.00
0.00
198618.78		 2023
£
0.00
550.08
550.08
78039.60
5001.00
4094.19
2078.64
16859.86
9424.31
2516.91
1094.24
6265.43
125374.18		 2023
£
0.00
550.08
550.08
78039.60
5001.00
4094.19
2078.64
16859.86
9424.31
2516.91
1094.24
6265.43
125374.18		 2023
£
0.00
550.08
550.08
34274.05
34274.05
160198.31		 34274.05
34274.05

This table provides a detailed breakdown of the church's outgoing costs for the year 2024, compared to 2023. The total expended resources for 2024 amount to £198,618.78 which has increased from £160,198.31 in 2023.

Key observations include:

Overall, this table shows significant investment and cost management efforts. While a large portion of the increase was driven by the need to make strategic improvements with the hall toilet renovations (£36000), enhancing our facilities, the overall costs have increased by £2420.47 compared to 2023. Other expenses, including clergy costs, routine maintenance, and service upkeep, showed a reduction or stability, highlighting a focus on efficiency. These adjustments demonstrate the church's commitment to balancing necessary investments with prudent financial stewardship.

Branksome St Clements Church PCC Charity Commission Reg. 1131692

The following information provides details of the overall financial details, confirming our staff costs, investment performance details and bank balances.

The Parish Church of Branksome St. Clement

Notes to the Financial Statementsfor the year ended 31st December

4. STAFF COSTS (Excluding St Clement Clergy)
Salaries, fees & national insurance
5. FIXED ASSETS USED BY THE PCC
a)
Tangible fixed assets
There are no tangible assets capitalised
b)
Investment fixed assets
Market value 1stJanuary
Net gains/losses on annual revaluation
Proceeds from shares sold
Transfer to bank
Value at 31st December
Holdings at 31stDecember - no. of shares
Market value per share at 31stDecember (p)
Revaluation increase/decrease
Dividends received
Dividend yield
6. ANALYSIS OF NET ASSETS BY FUND
Endowment funds
Unrestricted funds
Current assets
Less Current liabilities
Fund Balances		 Hall
St Barnabas
0.00
934168.34
0.00
21853.01
-47000.00
47000.00		 2024
29687.70
Total
Hall
St Barnabas
934168.34
0.00
853196.80
21853.01
0.00
80972.54
-47000.00
0.00
0.00
47000.00
0.00
0.00
909021.35
0.00
934169.34
39312.95
0.00
41325.00
23.12
2.34%
26804.21
0.00
27967.57
2.87%
Total
Unrestricted
Restricted
Funds
Funds
909021.35
0.00
934168.37
43544.35
73616.29
0.00
0.00
0.00
952565.70
73616.29
934168.37		 2023
27708.47
Total
853196.80
80972.54
0.00
0.00
934169.34
41325.00
22.61
9.49%
27967.57
3.28%
Total
934168.37
73616.29
0.00
1007784.66		 2023
27708.47
Total
853196.80
80972.54
0.00
0.00
934169.34
0.00
909021.35
0.00
39312.95
0.00
26804.21
Unrestricted
Restricted
Funds
Funds
0.00
909021.35
43544.35
0.00
0.00
0.00
43544.35
909021.35

The table provides an overview of the fixed assets used by the PCC, focusing on investment fixed assets and the analysis of net assets by fund.

The investment fixed assets show a decrease in market value at the end of the year, with a lower revaluation increase compared to the previous year. The proceeds from shares sold and their transfer to the church bank account was completed to finance the building work done on the Hall toilets. The analysis of net assets by fund reveals a decrease in both endowment and unrestricted funds, leading to a lower overall fund balance at the end of 2024. This suggests a need for careful financial planning and management to ensure the sustainability of the church's assets and funds.

Branksome St Clements Church PCC Charity Commission Reg. 1131692

This page shows payments due for the current year but were received / paid after 31/12/2024.

The Parish Church of Branksome St. Clement

Notes to the Financial Statements for the year ended 31st December

2024
2023
DEBTORS
Unrestricted
Restricted
Total
Unrestricted
Restricted
Funds
Funds
Funds
Funds
Prepayments
0.00
0.00
0.00
0.00
0.00
Rents
435.00
435.00
1040.00
Gift aid recovery
3304.89
0.00
3304.89
17321.70
0.00

Total Debtors
3739.89
0.00
3739.89
18361.70
0.00
CREDITORS
Accruals - Fees outstanding
-1522.00
0.00
-1522.00
-2133.75
0.00
Diocese - weddings & funerals
-1436.00
0.00
-1436.00
-1436.00
0.00
Utilities
0.00
0.00
0.00
0.00
0.00
Independent examiner
-1320.00
0.00
-1320.00
-1320.00
0.00
Owed to sundry charities
0.00
0.00
0.00
0.00
0.00
HMRC - tax & national insurance
-619.00
0.00
-619.00
-552.03
0.00
Receipts in advance
-475.26
0.00
-475.26
999.00
0.00
Total Creditors
-5372.26
0.00
-
5372.26
-4442.78
0.00		 Total
0.00
1040.00
17321.70
18361.7
0
-2133.75
-1436.00
0.00
-1320.00
0.00
-552.03
999.00
-4442.78

7. DEBTORS

8. CREDITORS

Caveat:

James Park from Morris Lane Chartered Accountants completed the accounts last year for a fee of £1320. We have not received a payment invoice, so this remains as a creditor payment in 2024.

The rent declared in 2023 has been amended to include Flat rent of £440 that was not previously recorded in 2023. £600 was from hall rent due.

The Debtors information represents income due for activities in 2024 that will be paid in 2025.

The Creditors information represents payments due for activities in 2024 that will be paid in 2025. For example, Gas and Electricity payments for December 2024 are debited in January.

Branksome St Clements Church PCC Charity Commission Reg. 1131692

The Parish Church of Branksome St. Clement Balance Sheet as at 31st December :

Notes
FIXED ASSETS
5
Tangible fixed assets
Investments (Endowment) - St Barnabas
- Hall
5b
CURRENT ASSETS
Debtors
7
Short term investments
Cash at bank and in hand
CURRENT LIABILITIES
Amounts falling due within one year
8
NET CURRENT ASSETS
NET TOTAL ASSETS
RESERVES
Closing unrestricted funds
Closing restricted funds - endowment
TOTAL RESERVES
Approved by the Parochial Church Council on		 2024
2023
£
£
909021.38
934168.37
0.00
0.00
909021.38
934168.37
3739.89
17921.70
15520.00
39138.41
29656.72
20998.96
48916.61
78059.07
5372.26
4442.78
43544.35
73616.29
952565.73
1007784.66
43544.35
73616.29
909021.38
934168.37
952565.73
1007784.66
and signed on its behalf by		 2023
£
934168.37
0.00
934168.37
17921.70
39138.41
20998.96
78059.07

Signed Name

Branksome St Clements Church PCC Charity Commission Reg. 1131692