## **ANNUAL REPORT AND FINANCIAL STATEMENTS**
# **FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **THE ECCLESIASTICAL PARISH OF**
# **ST MARY MADGALENE WITH ST MARTIN, ADDISCOMBE**
**CHARITY REGISTRATION NUMBER 1131721**
Independent Examiners Ltd
Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF
## **ST MARY MADGALENE WITH ST MARTIN, ADDISCOMBE**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022**
**----- Start of picture text -----**
Page
Legal and Administrative Information 3
Parochial Church Council Report 4 to 6
Independent Examiner's Report on the Accounts 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10 to 18
**----- End of picture text -----**
## **ST MARY MADGALENE WITH ST MARTIN, ADDISCOMBE**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**INCUMBENT** Rev. A Johnson **CHARITY NUMBER** 1131721 **WORKING NAMES** ST MMM PCC, ADDISCOMBE **START OF FINANCIAL YEAR** 01 January 2022 **END OF FINANCIAL YEAR** 31 December 2022
**TRUSTEES AT 31 DECEMBER 2022** Rev Amanda Johnson Helen Koukoulis Isabella Lisk Ruth Johnston Nigel Rolfe Patrick Ratnaraja Karen Payne Wenton Lespierre Nnenna Ugochukwu Sheba Ebenezer Emma Barlow Anthony Fisher Regina Chitambara
The existing trustees appoint any new trustees following the provisions laid out in the Charity's governing instrument.
**GOVERNING INSTRUMENT** Parochial Church Council Powers Measure (1956) as amended and church representation rules
## **REGISTRATION DATE**
21 September 2009: Previously excepted registration. (Previously excepted)
## **OBJECTS**
Promoting in the ecclesiastical parish the whole mission of the Church.
**PRINCIPAL ADDRESS** Canning Road Addiscombe Croydon Surrey CR0 6QD **PRIMARY BANKERS** CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ **INDEPENDENT EXAMINER** Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF
## **INDEPENDENT EXAMINER**
3
## **ST MARY MADGALENE WITH ST MARTIN, ADDISCOMBE**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **1. Introduction**
The trustees of the charity, THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF STMARY MAGDALENE WITH ST MARTIN (“the Charity”), present their report with the financial statements of the charity for the year ended 31 December 2022.
The trustees have adopted the provisions of 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 (FRS102) (effective 1 January 2005).
## **2. Structure, governance, and management**
The Parochial Church Council has the responsibility to appoint trustees and appoint any new trustees following the provisions laid out in the organisation's governing instrument. All existing trustees are members of the Parochial Church Council.
The following have served throughout the accounting period, except where indicated:
- Rev Amanda Johnson- Chair
- Nnenna Ugochukwu - PCC Secretary
- Helen Koukoulis - Treasurer
- Isabella Lisk - Warden
- Tony F Warden
- Nigel Rolfe
- Ruth Johnston
- Wenton Lespierre
- Patrick Ratnaraja
- Sheba Ebenezer
- Karen Payne
- Emma Barlow
- Regina Chitambara
There have been no resignations or appointments in the current financial year.
The PCC and Trustees meet 6 times per year to discuss operations and financial considerations for the Church.
## **Governing document**
St Mary Magdalene with St Martins PCC is an unincorporated charity governed by a Constitution adopted on the 21/09/2009 .
## **Organisational structure**
The charity has a full time Senior Pastor, who chairs the board of trustees. The trustees give their time voluntarily and received no benefits from the charity. No expenses have been reclaimed by any of the trustees from the charity in the period concerned. Any discussions/topics are voted and agreed before passing by the members of the PCC.
## **3. Aims and purposes**
Our purpose as recorded in our constitution is to to advance the Christian Religion in the United Kingdom.
## **4 Achievements and Performance**
## **How Our Activities Deliver Public Benefit**
The charity carries out a wide range of activities for the community during the year. The aim is to bring the community together. The trustees consider that these activities, summarised below, provide benefit both to those who are part of _St Mary Magdalene with St Martins PCC_ and the wider community of which the charity resides.
## 1. The organisation and provision of Christian worship
We want to provide space and opportunities for people to explore faith, to worship, to participate in works that reflect the teachings of Jesus, and to live out their beliefs. It is important for us that we don’t just talk about following Jesus but put it into practice.
## 2. Gatherings & Discipleship
The church’s ministry continued to be challenged and changed by the Covid 19 Pandemic. After December 2021, the church continued with its services of worship.
4
## **ST MARY MADGALENE WITH ST MARTIN, ADDISCOMBE**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31ST DECEMBER 2022**
## 2. Gatherings & Discipleship (continued)
Services every Sunday with live streaming, and even though live streaming the church members gradually returned and back to normal with 2 services every Sunday apart from the last Sunday of the month when there is one service.
There are also invitations of Ministry speakers to bring variety and in January there was a day seminar of Ministry.
Our preschool continued to run and is back to normal. The staff adapted very well to all guidelines set and created a very positive atmosphere for the children. There were retirement and replacements made as well.
The church’s youth and children’s leaders maintained good contact with the young people of St Marys and there are various activities arranged eg BBQ.
Other activities continue, such as Morning prayers held twice a week over Zoom.
Café matinée once a month where people can sit and watch a movie together. Food Bank on a weekly basis. Christmas Fayre, Soup Sunday in Autumn, Holiday Club that is a 3 day event during the August holiday attended by approx. 50 children, Christmas Carols service and an evening outside the church for communities to join, Christmas journey play with 400 children attended from various schools over five days. A day before Shrove day, surrounded church’s and community are invited to part take in a fun event of Pancake races that is hosted by a pub owner and serve Pancakes after to all.
The toilet refurbishment was completed in February 2022 and included a shower. In November, it was agreed by the PCC to upgrade the Sound system and this was completed in the New Year of 2023.
Hall users continue their groups in the evening, with Pilates, Zumba and Young Roots.
## **5. Financial review**
Total incoming resources for the period were £140,255 (2021: £131,586) of which 138,292 was unrestricted income (2021: £111,119). Total resources expended were £162,211 (2021: £112,015) of which £138,266 was unrestricted expenditure (2021:102,239). A full review of the financial position of the charity can be found on the attached financial statements.
## **6. Reserves policy**
As at the balance sheet date of 31 December 2022 the charity had reserves (unrestricted funds) of £13,367 held in the CCLA account and £56,443 held in the Shawbrook accounts. These are legacy donations given by those who passed away and given by the member of the congregation. These funds are held for purpose of any future projects.
## **7. Risk Management**
The trustees have a duty to identify and review the risks to which the charity is exposed to and ensure appropriate controls are in place for reasonable assurance against fraud and error.
The trustees do not perceive any major risks to the charity currently.
## **8. Future-plans**
Following a difficult end to the financial year, to maintain the Worship and provide a space for the congregation and community .
## **9. Public Benefit**
Trustees have paid due regard to the Charity Commission Guidance on 'Public Benefit' in deciding what activities the charity undertakes. All activities undertaken by St Mary Magdalene with St Martins PCC are focussed on our charitable and faith purposes.
## **10. Going Concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resource to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
5
ST MARY MADGALENE WITH ST MARTIN, ADDISCOMBE
TRusfEES' REPORT (Continued)
FOR THE YEAR ENDED 31sr DEceMBER 2022
ReSPnSibl1tleS of TNst¢es
drtiy law requires the Board ¢*Trustees to pw¥e fintlI statements for each f(nanckil yw which 9Ne 4 true
and falr view of the state OF affalr5 of the charbiy arsd cl ts Incoming rtsource5 and resources for tbE
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to,.
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## **ST MARY MADGALENE WITH ST MARTIN, ADDISCOMBE**
## **INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022**
Report to the trustees/ members of The Ecclesiastical Parish of St Mary Magdalene with St Martin, Addiscombe on the accounts for the year ended 31st December 2022.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity’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,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- to state whether particular matters have come to my attention.
## **Basis of independent examiner’s statement**
My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity 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 an 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 matter has come to my attention
1. which gives me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
- have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF Date:
7
## **ST MARY MADGALENE WITH ST MARTIN, ADDISCOMBE**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022**
|**INCOMING RESOURCES**
Donations & Legacies
**3a**
Investment Income
**3b**
Trading Activities
**3c**
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
Costs of Charitable Activities
**4**
**TOTAL RESOURCES EXPENDED**
**TOTAL FUNDS BROUGHT FORWARD**
**TOTAL FUNDS CARRIED FORWARD**
**TRANSFERS BETWEEN FUNDS**
**NET MOVEMENT IN FUNDS**
**NET INCOMING/(OUTGOING)**
**RESOURCES**|Unrestricted
Restricted
Endowment
**Total**
**Total**
Funds
Funds
Funds
**2022**
**2021**
£
£
**£**
**£**
113,680
-
1,963
-
115,643
109,593
8,468
-
-
-
8,468
8,807
15,760
-
-
-
15,760
13,186|
|---|---|
||**138,292**
**-**
**1,963**
**-**
**140,255**
**131,586**|
||138,266
-
23,945
-
162,211
112,015|
||**138,266**
**-**
**23,945**
**-**
**162,211**
**112,015**|
|||
||**26**
**-**
**(21,982)**
**-**
**(21,956)**
**19,570**
-
-
-
-
-
-|
||**26**
**-**
**(21,982)**
**-**
**(21,956)**
**19,570**|
||413,412
-
84,887
288,000
786,299
766,728|
||**413,438**
**-**
**62,905**
**288,000**
**764,343**
**786,299**|
All of the Charity's operations are classed as continuing operations.
The notes form part of these financial statements, found on pages:10 to 18
8
ST MARY MADGALENE wmi ST MARTIN. ADDISCOMBE
BALANCE SHEET
ASAT 31 DECEMBER 2022
Unra%tricted
Fund
Endowrnt
Fund
T¢)tsl
Trtal
31-Dec-22 31-Detr21
Funds
Fund
Fixed As6el8
Taftgibk Assets
lTrvestment Assets
Notes
388.239
288,000
676,239
655.745
288 000 676 239
Stocks
Debtors & FWayments
Cash at bank and kn hand
175
175
175
25.083
106.536
li
37.258
62,905
100,163
37
13
794
CvedTtor% due wf(hln
one year
NEf CURRENT Assrrs
12,235
12,235
1240
25,199
62.905
88,103
130,554
TOTAL ASSETS Ivss curreTrt 1k4b11e5
413A38
780.299
CredIto due In more
than one year
413
FUNDS OF ThE CHARXTY
General Funds
Restricted Funds
r2pital Funds'.-
End¢[net Funds
413A38
413.438
62,905
413,412
84,887
62,905
288.000
288.000
288,000
TOTAL FUNDS
413
343
786
pro¥ul by the Trustees the...
fned on ther bekna byTrustee........ ..
Int Name:..
## **ST MARY MADGALENE WITH ST MARTIN, ADDISCOMBE**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **1. ACCOUNTING POLICIES**
## **Company information**
St Mary Magdalene with St Martin is a registered charity. The Charity registration number is 1131721. The principle address is Canning Road, Addiscombe, Croydon, Surrey CR0 6QD.
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year.
## **Accounting convention**
The financial statements have been prepared in accordance with the PCC's [governing document], the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). The PCC is a Public Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the PCC . Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared on the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
## **Assessment of Going Concern**
At the time of approving the financial statements, the Parochial Church Council have a reasonable expectation that the PCC has adequate resources to continue in operational existence for the foreseeable future. Thus the Parochial Church Council continue to adopt the going concern basis of accounting in preparing the financial statements.
## **Charitable Funds**
## **1. Unrestricted funds**
Unrestricted funds are available for use at the discretion of the Parochial Church Council in furtherance of their charitable objectives unless the funds have been designated for other purposes.
## **2. Restricted funds**
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **3. Endowment funds**
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the PCC.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Incoming resources**
## Voluntary income and capital sources
i) Collections are recognised when received by or on behalf of the PCC.
ii) Planned giving receivable under covenant or Gift Aid donations is recognised when the income is recognised. iii) Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement and the amount due. iv) Sale of books and magazines from the church bookstall are accounted for gross.
## Other income
Rental income from letting of the church premises is recognised when the rental is due.
Income tax recoverable in relation to donations received under Gift Aid or Deeds of Covenant is recognised at the time of the donation.
## Income from investments
Interest entitlements are accounted for when receivable.
This page does not form part of the statutory financial statements
10
## **ST MARY MADGALENE WITH ST MARTIN, ADDISCOMBE**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **Incoming resources (continued)**
## Funds
General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purpose of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted. The accounts include all transactions, assets and liabilities for which the PCC is responsible law.
## **Resources expended**
## Grants
Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC.
## Activities directly relating to the work of the Church
The Diocesan parish share is accounted for when paid.
## **Tangible Fixed Assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses
## **Depreciation Expense**
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment 25% Land and buildings No depreciation
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
There has been no change to the accounting polices (Variation rules and methods of accounting) since last year.
## **Impairment of fixed assets**
At each reporting end date, the PCC reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any) .
## **Accounting policies (Continued)**
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in income/(expenditure for the year, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
## **Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
## **Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the PCC is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
This page does not form part of the statutory financial statements
11
## **ST MARY MADGALENE WITH ST MARTIN, ADDISCOMBE**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **2. TANGIBLE FIXED ASSETS**
|Additions
At 31 December 2021
**Accumulated Depreciation**
At 1 January 2022
Charge for the Year
**Cost**
At 1 January 2022
At 31 December 2022
**Net Book Value**
At 31 December 2022
At 31 December 2022|Land and
buildings
Fixtures,
fittings &
equipment
**2022**
£
£
£
608,000
70,469
678,469
-
22,129
22,129|
|---|---|
||608,000
92,598
700,598|
||-
22,724
22,724
-
1,634
1,634|
||-
24,358
24,358|
|||
||608,000
68,239
676,239|
||608,000
47,745
655,745|
The annual commitments under non-cancelling operating leases and capital commitments are as follows:
31st December 2021 : None 31st December 2022 : None
## **Consecrated property and movable church furnishings**
Consecrated and beneficed property of any kind is excluded from the accounts. Moveable church furnishings held by the Vicar and Churchwardens on special trust for the PCC, and which require a faculty for the disposal, are accounted as inalienable property unless consecrated. They are listed in the church's Inventory which can be inspected if required.
All expenditure incurred during the year on consecrated or beneficed buildings and movable church furnishings, whether maintenance or improvement, is written off as expenditure in the SOFA and separately disclosed.
The house at 68 Elgin Road, Croydon had an estimated market value of £220,000 as at 26 March 2004. The property was revalued by Cray & Norton, a local estate agent on 3 February 2014 and is included in the Balance Sheet at £320,000.
The legal title holder of the house at 68 Elgin Road is Anglican Diocese of Southwark and the beneficial owner is St Mary Magdalene with St Martin .
The Magdalene centre is valued at £288,000, being the re-instatement cost recommended by the PCC's insurance company.
This page does not form part of the statutory financial statements
12
## **ST MARY MADGALENE WITH ST MARTIN, ADDISCOMBE**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **3. INCOMING RESOURCES**
|**c) Other Trading Activities**
Non-Charitable trading activities
**b) Investment Income**
Rental income
Interest receivable
Donations and gifts
Gift Aid reclaim
Parish Giving Scheme
**a) Donations & Legacies**|Unrestricted
Designated
Restricted
Endowment
**Total**
**Total**
Funds
Funds
Funds
Funds
**2022**
**2021**
£
£
£
**£**
**£**
77,439
-
6,137
-
83,575
96,511
20,630
-
(4,174)
-
16,456
13,082
15,612
-
-
-
15,612
-|
|---|---|
||**113,680**
**-**
**1,963**
**-**
**115,643**
**109,593**|
||8,038
-
-
-
8,038
8,446
431
-
-
-
431
361|
||**8,468**
**-**
**-**
**-**
**8,468**
**8,807**|
||15,760
-
-
-
15,760
13,186|
||**15,760**
**-**
**-**
**-**
**15,760**
**13,186**|
This page does not form part of the statutory financial statements
13
## **ST MARY MADGALENE WITH ST MARTIN, ADDISCOMBE**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31ST DECEMBER 2022**
|**4. RESOURCES EXPENDED**
Entertainment - special events &
Independent Examiner Fee
Legal & Professional fees
Insurance & repairs expenses
Mission
Elgin Road Repairs & Maint
**Charitable Activities:-**
Bank Charges
Capex expense
Clergy & leaders expenses
Donations to Specific Project exp-
Elgin Road Insurance
Elgin Road Rent repay
Corporation tax penalty
Depreciation expense
HMRC PAYE
Wages and salaries
Equipment
Diocese-Special gift giving
Payroll:-
Office expenses
Parish Support Pledge Fund
Governance costs:-
Youth Ministry
Subscriptions & Licenses
Sundry expenses
Support to preacher student studies
Telephone and internet
Repairs & maintenance
Services and outreach
Website & Advertising
Weddings, funerals & baptisms
Utilities|Unrestricted
Designated
Restricted
Endowment
**Total**
**Total**
Funds
Funds
Funds
Funds
**2022**
**2021**
£
£
£
**£**
**£**
237
-
-
-
237
197
-
-
-
-
-
3,500
2,450
-
-
-
2,450
1,535
-
-
-
-
-
100
1,634
-
-
-
1,634
1,280
14,532
-
14,575
-
29,106
1,348
617
-
-
-
617
579
-
-
-
-
-
1,765
2,488
-
-
-
2,488
902
695
-
-
-
695
-
13,145
-
-
-
13,145
1,850
-
-
9,370
-
9,370
5,001
3,963
-
-
-
3,963
2,547
54,000
-
-
-
54,000
58,002
16,520
-
-
-
16,520
14,587
62
-
-
-
62
82
1,489
-
-
-
1,489
1,465
9,086
-
-
-
9,086
86
-
-
-
-
-
400
967
-
-
-
967
856
4,602
-
-
-
4,602
2,953
-
-
-
-
-
-
206
-
-
-
206
1,068
949
-
-
-
949
455
521
-
-
-
521
38
7,432
-
-
-
7,432
9,860
-
-
-
-
-
-
1,407
-
-
-
1,407
-
1,218
-
-
-
1,218
1,140
45
-
-
-
45
420|
|---|---|
||**138,266**
**-**
**23,945**
**-**
**162,211**
**112,015**|
This page does not form part of the statutory financial statements
14
## **ST MARY MADGALENE WITH ST MARTIN, ADDISCOMBE**
## **NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **5. RESTRICTED & ENDOWMENT FUNDS**
## **CURRENT FINANCIAL YEAR**
|**PREVIOUS FINANCIAL YEAR**
Total Endowment Funds
Gift aid
Gift aid
**Permanent Endowments:-**
Magdelene Centre
Capex (excl. fixed assets)
Capex -Church Tiolets
Capex Fixed Assets exp. (not Rest. Fd)
Total Rest.Fd&Capex Fixed Asset exp.
Magdelene Centre
Capex - Church Kitchen
Total Rest. Funds (excl. Endowment)
Wedding & funeral fees
Retiring collections / restricted
Misc - for specific project
**Restricted Funds:-**
Toilet refurbishment
Retiring collections / restricted
Restricted Fabric
Choir
Missions
Education
Floating shelter
Toilet refurbishment
Total Capex Fix.Ass exp.(not Rest. Fd)
**Permanent Endowments:-**
Reference only:-
Capex (excl. fixed assets)
Dishwasher / kitchen refurbishment
Restricted Fabric
Choir
Missions
Education
Dishwasher / kitchen refurbishment
Floating shelter
Misc - for specific project
Wedding & funeral fees
**Total Rest. Funds (excl. Endowment)**
Total Endowment Funds
**Restricted Funds:-**|**Balance**
Unrealised
**01-Jan-22**
Income
Expenditure
Gain/Loss
Transfer
**31-Dec-22**
£
£
£
£
£
£
9,000
-
-
-
-
9,000
100
-
-
-
-
100
7,016
(837)
(9,370)
-
-
(3,191)
170
-
-
-
-
170
1,117
-
-
-
-
1,117
645
-
-
-
-
645
662
-
(13,799)
-
-
(13,137)
44
-
-
-
-
44
61,820
2,000
-
-
-
63,820
2,416
800
(776)
-
-
2,441
1,698
-
-
-
-
1,698
199
-
-
-
-
199|
|---|---|
||**84,887**
**1,963**
**(23,945)**
**-**
**-**
**62,905**
|
||(1,554)
-
-
-
-
(1,554)
(45,734)
-
(11,065)
-
-
(56,799)|
||(47,288)
-
(11,065)
-
-
(58,353)|
||37,598
1,963
(35,009)
-
-
4,552|
||288,000
-
-
-
-
288,000|
||288,000
-
-
-
-
288,000
**Balance**
Unrealised
**01-Jan-21**
Income
Expenditure
Gain/Loss
Transfer
**31-Dec-21**
£
£
£
£
£
£
9,000
-
-
-
-
9,000
100
-
-
-
-
100
4,458
7,559
(5,001)
-
-
7,016
170
-
-
-
-
170
1,117
-
-
-
-
1,117
645
-
-
-
-
645
662
-
-
-
662
44
-
-
-
-
44
-
7,320
(3,500)
-
58,000
61,820
-
3,691
(1,275)
-
-
2,416
-
1,698
-
-
-
1,698
-
199
-
-
-
199
-
-
-
-
-
-|
||16,196
20,467
(9,776)
-
58,000
84,887
288,000
-
-
-
-
288,000|
||288,000
-
-
-
-
288,000|
The Restricted Funds are wholly represented by the Charity's cash reserves and are to be expended as specified above.
This page does not form part of the statutory financial statements
15
## **ST MARY MADGALENE WITH ST MARTIN, ADDISCOMBE**
## **NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **6. DESIGNATED & GENERAL FUNDS**
The Charity held no Designated Funds during this or the previous financial period.
## **CURRENT FINANCIAL YEAR**
|**PREVIOUS FINANCIAL YEAR**
General Funds
**Total General Funds**
General Funds
**Total General Funds**|**Balance**
**Unrealised**
**01-Jan-22**
**Income**
**Expenditure**
**Gain/Loss**
**Transfer**
**31-Dec-22**
£
£
£
£
£
£
413,412
138,292
(138,266)
-
-
413,438|
|---|---|
||**413,412**
**138,292**
**(138,266)**
**-**
**-**
**413,438**|
||**Balance**
**Unrealised**
**01-Jan-21**
**Income**
**Expenditure**
**Gain/Loss**
**Transfer**
**31-Dec-21**
£
£
£
£
£
462,533
111,119
(102,239)
-
(58,000)
413,412|
||**462,533**
**111,119**
**(102,239)**
**-**
**(58,000)**
**413,412**|
## **7. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|Fund balances at
31-Dec-22
are represented by:
Tangible fixed assets
Current assets/(liabilities)|**Unrestricted**
**Restricted**
**Endowment**
**Total**
**Total**
**Funds**
**Funds**
**Funds**
**31-Dec-22**
**31-Dec-21**
£
£
£
£
£
388,239
-
288,000
676,239
655,745
25,199
62,905
-
88,103
130,554|
|---|---|
||**413,438**
**62,905**
**288,000**
**764,343**
**786,299**|
This page does not form part of the statutory financial statements
16
## **ST MARY MADGALENE WITH ST MARTIN, ADDISCOMBE**
## **NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **8. INVESTMENTS**
The Charity held no investment assets during this or the previous financial period.
## **9. CASH AT BANK AND IN HAND**
|**9. CASH AT BANK AND IN HAND**||
|---|---|
|**10. STOCKS**
Raw materials and consumables
CCLA
PC card
CAF Cash
Shawbrook bank
Sum up|Unrestricted
Designated
Restricted
Endowment
**Total**
**Total**
Funds
Funds
Funds
Funds
**31-Dec-22**
**31-Dec-21**
£
£
**£**
**£**
17,405
-
11,065
-
28,469
36,773
4,603
-
51,840
-
56,443
56,200
1,675
-
-
-
1,675
237
13,367
-
-
-
13,367
13,194
208
-
-
-
208
131|
||37,258
-
62,905
-
100,163
106,536|
|||
||175
-
-
-
175
175|
## **11. DEBTORS AND PREPAYMENTS**
|Sundry accounts receivable
Prepayment
Sundry Debtors|Unrestricted
Designated
Restricted
Endowment
**Total**
**Total**
Funds
Funds
Funds
Funds
**31-Dec-22**
**31-Dec-21**
£
£
**£**
**£**
-
-
-
-
-
14,532
-
-
-
-
-
4,952
-
-
-
-
-
5,600|
|---|---|
||**-**
**-**
**-**
**-**
**-**
**25,083**|
Amounts owing to the PCC at 31st December in respect of fees, rents, income tax recoverable or other income are shown as debtors.
## **12. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other creditors
Independent Examiner's Fee
Provision for Corporation Tax|Unrestricted
Designated
Restricted
Endowment
**Total**
**Total**
Funds
Funds
Funds
Funds
**31-Dec-22**
**31-Dec-21**
£
£
**£**
**£**
11,065
-
-
-
11,065
-
-
-
-
-
-
100
1,170
-
-
-
1,170
1,140|
|---|---|
||**12,235**
**-**
**-**
**-**
**12,235**
**1,240**|
The trustees consider the carrying amounts of current liabilities approximate to their fair values.
## **13. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE IN MORE THAN ONE YEAR**
The Charity held no long term liabilities during this or the previous financial period.
This page does not form part of the statutory financial statements
17
## **ST MARY MADGALENE WITH ST MARTIN, ADDISCOMBE**
## **NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **14. STAFF COSTS AND NUMBERS**
|**TOTAL**
**2022**
**£**
Gross Wages & Salaries
6,460
Employer's National Insurance costs
-
Employer's Pension Contributions
-
**6,460**
Average number of employees who were engaged in each of the following activities:
**TOTAL**
**2022**
Charitable Activities
?|**TOTAL**
**2021**
**£**
8,869
-
-|
|---|---|
||**8,869**|
||**TOTAL**
**2021**
1|
The Charity operates a PAYE scheme to pay all employed members of staff and no employees received emoluments in excess of £60,000.
(2021 - None)
## **15. TRUSTEES AND OTHER RELATED PARTIES**
No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.
(2021 - None)
## **16. RISK ASSESSMENT**
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
## **17. RESERVES POLICY**
The Trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
## **18. PUBLIC BENEFIT**
The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees' report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
This page does not form part of the statutory financial statements
18