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 toilets in the Hall – total expenditure £36000 - Drainage work investigation completed - £360 (work to be completed in 2025). - Deposit paid for damp proof work to be completed in the future - £1222.59 ## **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: - Church Flat - £11110.82 - Hall Lettings - £13409.99 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: - **Income from Donors** : The largest source of income, totalling £53,082.50 in 2024, down from £67,038.81 in 2023. This includes planned giving, gift aid donations, tax recovered, other giving, collections, legacies, and sundry donations. - **Other Voluntary Income** : Fundraising and special appeals contributed £6,156.73 in 2024, a significant increase from £1,128.92 in 2023. - **Income from Operating Activities** : Generated £34,730.55 in 2024, slightly lower than £35,168.51 in 2023. This includes income from books and bible reading notes, church hall lettings, fees for weddings and funerals, other sources, and rent of the flat. - **Income from Investments** : Dividends and interest received in 2024 was £27,577.06, compared to £28,044.18 in 2023. 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: - **Wedding and funeral fees (£3,445.00)** , which declined compared to 2023 (£5,001.00). - **Clergy expenses including youth work (£1,992.55)** , reduced from £4,094.19 in 2023. - **Church routine maintenance and repair (£10,289.10)** , which decreased from £16,859.86 in 2023. - **Hall running expenses (£46,886.40)** , this significant increase (£9,424.31 in 2023) was due to the building work carried out to replace the Hall toilets. This was an important investment to enhance the facilities of our church and monies were withdrawn from the Investment account to pay for this work. - **Churchyard expenses (£3,333.46)** , and **flat running expenses (£2,186.88)** , which remained relatively stable compared to the previous year. - **Upkeep of church services (£5,055.91)** , a slight decrease from £6,265.43 in 2023. 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