**Brockenhurst Parochial Church Council St. Nicholas' with St. Saviour's**
## **Registered Charity 1131796**
## **Annual Report**
## **and**
## **Financial Statements**
for the year ended 31 December 2022
## **Vicar:**
Revd. Simon Newham
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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
## **Annual Report for 2022**
## **Background**
The Parochial Church Council of the Ecclesiastical Parish of Brockenhurst has the responsibility for promoting within the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical in cooperation with the vicar, the Revd Simon Newham to whom day to day management of the parish is delegated.
The ecclesiastical parish is part of the Diocese of Winchester within the Church of England. There are two churches within the parish: St Nicholas’ the parish church and St Saviour’s located in the centre of the village of Brockenhurst.
The registered name of the PCC is The Parochial Church Council of the Ecclesiastical Parish of Brockenhurst and its registered working name is Brockenhurst PCC. The registered number of the charity is 1131796, and statutory information regarding the Parish may be found on the Charity Commission website, which it is the responsibility of the PCC to update, particularly following the Annual Parochial Church Meeting.
When planning activities for the year the Vicar and PCC have adopted Charity Commission guidance on public benefit and, in particular, specific guidance on charities for the advancement of religion.
## **Administrative Information**
Vicar: Revd. Simon Newham
The correspondence address is:
The Church Office, Wilverley Road, Brockenhurst SO42 7SP
The Independent Examiner is:
Lewis Ball & Co William House 32 Bargates Christchurch Dorset BH23 1QL
Our bankers are:
Lloyds Bank Lymington PO Box 1000 Andover BX1 1LT
Winchester Diocesan Board of Finance Old Alresford Place Old Alresford SO24 9DH
CCLA Investment Management Ltd The CBF Church of England Funds Senator House 85 Queen Victoria Street London EC4V 4ET
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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
## **Parochial Church Council**
During the period 1 January 2022 until the date that this report was approved the following have served as members of the Parochial Church Council PCC:
_Vicar_ The Revd. Simon Newham Chairman from June 2019 _Wardens_ Mr Jeremy Moss Mrs Joanna Plummer _Deanery Synod Representatives_ Mr Peter Lay Treasurer Mr John Pearson Mr Martyn Taylor Resigned November 2022 _Elected Members_ Mrs Pauline Brown Mr Bob Coombs Mr Tim Dodwell Mr Martin Fletcher Mrs Jane Forrest Mr Tony Foulger Mrs Joyce Kolaczkowski Mrs Wendy Lay Mrs Janet McDonald Mr Nathan Parnaby Mr Paul Pearse Mrs Lindy Waight
## **Structure, Governance and Management**
The PCC is a body corporate established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. During 2009 as a result of changes to legislation, The Parochial Church Council (PCC) became a separately registered Charity with the Charity Commission under number 1131796.
Members of the PCC are appointed ex officio, or co-opted, or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules.
All Church members are encouraged to register on the Electoral Roll and stand for election to the PCC.
## **Teams and Committees**
The PCC operates through a number of teams and committees which meet between full meetings of the PCC. The teams have oversight responsibility for some additional committees. The committees review major risks to which the PCC may be exposed and implement systems or procedures to manage those risks. This includes appropriate training, and taking advice from experts.
- **Standing Committee** : The Standing Committee has the power to transact the business of the PCC between its meetings, subject to any directions given by the PCC. The Standing Committee comprises the: Vicar, Church Wardens, Treasurer, PCC Secretary, and another member of the PCC;
- **Children and Young People** : Seeks God’s heart and vision for our children and youth work. The team encourages the children and young people in their faith and supports the Children and Family worker and helpers in their work;
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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
- **Eco Team** : Seeks to raise awareness of the link between environmental issues and the Christian faith, and to respond with practical action in the Church itself, in the lives of individuals within the church, and in the local and global community;
- **Fabric and Grounds Team** : Manages the maintenance and development of the two church buildings, hall and the church grounds;
- **Finance Team** : Assists the Treasurer with the development of the annual PCC budget; reviews and monitors the state of the PCC’s finances; and assists the treasurer with the development of appropriate financial policies for approval by the PCC;
- **Hall Committee** : Manages the running of the Church Hall adjacent to St. Saviour's Church;
- **Mission Team** : The Mission Team is responsible for nominating home and overseas charities to be supported by the church from general funds and special appeals;
- **Pastoral Team** : Seeks to support the elderly and lonely, the sick and vulnerable, and the bereaved within the Parish through pastoral visiting;
- **Prayer Team** : Members of the team are available every Sunday after the 9.30am service at St Saviour’s for those who would like prayer. They also arrange and lead other prayer meetings during the year;
- **Social Committee** : Organises and manages the social activities within the Parish, including lunches, harvest quiz and an annual Newcomers' Evening;
- **Worship Team** : Plans the services and patterns of worship in both churches, in co-operation with the Vicar.
## **Objectives and Activities**
The PCC is responsible for co-operating with the Vicar in promoting within the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. It is also responsible for maintaining the two village churches of St. Nicholas' and St. Saviour's. The vision is to be a Christ Centred Community
There were 208 parishioners on the Church Electoral Roll at the 2022 APCM, of whom 25 were not resident in the Parish compared with 212 in 2021. The size of the worshiping community is 142 with an average weekly attendance of 120 adults and 11 children, although the number increases substantially at major festivals.
## **Review of the year**
## **Introduction**
This year gave a welcome ‘return to normality’ after the strictures of Covid, although it took most of the period for church and event attendance to return to pre-covid levels.
The full PCC was able to meet on its planned bi-monthly schedule throughout 2022 with the PCC Teams meeting regularly and reporting to the PCC for guidance where necessary.
The key points of focus for our Church in 2022 were:
- Providing a weekly pattern of worship and community for our congregations
- Opening our churches (St Nicholas’ church and St Saviour’s) each day for private prayer
- A series of events focussing on our Year of Vocations
- Community engagement activities such as Brockcare and Eco Church
- Expanding use of our Church Hall for local groups and events
- Digital Church – interactive broadcast of services online with recordings available
## **Support for our congregations**
Our pattern of weekly services has now settled as:
- Sunday 0900 Holy Communion at St Nicholas’ (BCP on first Sunday of month)
- Sunday 1030 Sunday Worship at St Saviour’s (Holy Communion on third Sunday)
- Thursday 1000 Holy Communion at St Saviour’s
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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
Throughout the year our Vicar Simon led daily Morning and Evening Prayer online using Zoom audio facilities and following the pattern suggested by the Church of England Daily Prayer programme. Holy Communion was regularly taken to the care and residential homes in the village by members of our Worship Team.
The experimental ‘Open’ Service was continued through the year on a monthly basis at St Saviours on the fourth Sunday. This service has a less formal style and focusses on a topic such as ‘Mental Health’ or ‘the Holy Spirit’ and allows for discussion as well as worship and teaching.
Our House-Groups were an important source of fellowship and learning during 2022 and spent time looking at Vocations as part of our yearly focus.
Once again in October we held a Bereavement Service in St Saviour’s to offer support to those who have lost a loved one with the usual afternoon tea for refreshment.
Remembrance commemorations were held in November with another highly visible field of 1000 crocheted poppies in St Saviour’s grounds once again appearing to flow out from the east window.
Over Christmas our two Carol Services were popular as were our Christmas eve and Christmas morning services which were held inside this year as the weather was too cold to be outside.
Simon Newham, our vicar, continued to enthusiastically grow our links to local primary schools holding a regular weekly Assembly in addition to his contribution as a Governor at Brockenhurst. Links with Brockenhurst College grew through our Children and Youth coordinator leading to the start of a formal Christian Union which held a popular Cookies and Carols in the Quad event at Christmas.
## **Schools Outreach**
In combination with the parishes of Boldre and South Baddesley in our benefice we appointed Mel Osborne as our Children and Families Worker starting in December 2022. Mel’s focus is to work within our three Church Primary Schools of Brockenhurst, William Gilpin (Boldre) and South Baddesley.
This new initiative has been warmly welcomed supported by the three Head Teachers and we are looking to grow stronger links with the children and families in our villages through this work.
## **Our role in the community**
Brockcare – our pastoral group providing support to the vulnerable and elderly in the village continued to provide home visits and activities including transport for those who are isolated or unable to get about easily.
Activities such as Wednesday Lunches and Thursday coffee mornings (CAMEO, **C** ome **A** nd **M** eet **E** ach **O** ther) and our annual Holidays At Home we welcomed back to full operation. With the rise in energy costs a ‘warm hub’ soup lunch and activities were provided on Thursdays.
Again Christmas Day lunch was provided for some of the villagers who would otherwise be on their own. The lunches were generously cooked by a local chef in the Church Hall and supported by members of the church family.
We also served our community through baptisms, weddings and funerals with a particularly active year for weddings following the restrictions of previous years.
## **Deanery & Diocese Support**
Simon Newham, our vicar was appointed Rural Dean in 2022 and able to contribute his skills and experience to encouraging and supporting parishes and incumbents in the wider area. While this has increased his workload he has been supported by two training appointments. Luke Augustyn joined our parish part-time in September as an Ordinand whilst he continues to study at St Melitus College in London. At the close of 2022 Stephen Bennet was appointed to join us as a Curate in early 2023.
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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
## **Financial Review**
## **Independent Examiner**
The appointment of Mr Lewis Ball as Independent Examiner for these financial statements was approved at the APCM meeting held on 27 April 2022.
## **Overall Summary**
Total income was £245,806 while total expenditure was £274,664 (before unrealised investment losses) resulting in net expenditure of £28,858 compared to net income in 2021 of £43,785. However, these figures include a number of exceptional items:
- Expenditure on St Saviour’s roof and stonework repairs amounted to £29,501. This was funded from funds put aside in previous years
- Depreciation costs of £4,047 for the St Saviour’s audio system installed in 2018 and £1,653 for the installation of cameras, projectors and screens in St Saviour’s church funded from the AV appeal held in 2021. Both projects are depreciated over a five year period.
- Legacies of £700
Ordinary income amounted to £238,943 while ordinary expenditure amounted to £234,036 a net surplus of £4,907.
The CBF Endowment Fund investments decreased in value by £11,018 compared to a gain in value in 2021 of £11,715.
## **Expenditure**
Ordinary expenditure increased from £200,093 in 2021 to £234,036 in 2022 while extraordinary expenditure was £40,628
|Ordinary
Common Mission Fund
Donations to charities
Staff salaries
Maintenance of both churches and hall
Churchyard
Utilities (Gas electric and water)
Other running costs
Extraordinary/appeals Charities
St Saviour's roof and stonework repairs
Depreciation|2022
2021
112,705
£
105,442
£
8,819
£
10,000
£
35,806
£
26,845
£
10,564
£
8,260
£
7,341
£
1,810
£
6,016
£
4,465
£
52,785
£
43,271
£|
|---|---|
||234,036
£
200,093
£
3,824
£
13,049
£
31,078
£
-
£
5,726
£
7,345
£|
||274,664
£
220,487
£|
Extraordinary expenditure comprises:
- Money given to charities from special appeals and collections
- The cost of repairs to St Saviour’s church identified by the Quinquennial survey
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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
- Depreciation charges for the St Saviours Audio Visual (AV) system N.B. in 2021 there were also depreciation charges for the hall development but this is now fully depreciated.
Ordinary expenditure comprises:
## **Ordinary Expenditure**
**----- Start of picture text -----**
Other running
costs
23%
Utilities (Gas
electric and water)
3%
Common Mission
Fund
Churchyard
48%
3%
Maintenance of
both churches and
hall
4%
Staff salaries
Donations to
15%
charities
4%
**----- End of picture text -----**
- Payments to the diocesan Common Mission Fund. These were £112,705 in 2022 which is an increase of about £7,000 compared to 2021.
- Donations to charities from General Funds amounting to £8,819. These include £819 profit from the Screwtape Letters donated to the DEC Pakistan Flood appeal and in 2021 an extra £2,000 was donated to Rwanda.
- Staff salaries increased by about £9,000 to £35,806 an increase of 33%. These include employment costs for the maintenance of St Nicholas’ churchyard which are offset by grants received from the Parish Council. A Family and Children’s worker was employed from December 2022 with costs shared between Brockenhurst, Boldre and South Baddesley parishes for which the Boldre and South Baddesley contributions are reported as grants.
- Maintenance of both churches and hall are the day-to-day maintenance costs. These amounted to £10,564 in 2022 about £2,300 more than in 2021.
- The churchyard maintenance costs were £7,341 about £5,500 more than in 2021 mainly due to the cost of tree work in both churchyards.
- Utilities (gas, electric and water) charges rose by £1,500. The electricity contract finished at the end of August and a new, two year, contract was started from the 1[st] September resulting in a higher tariff for electricity. The gas tariff was unchanged for 2022 as the gas contract is for three years and started on 1 September 2021. Consequently, gas and electric prices are fixed until August 2024.
- Other running costs are the other running expenses of the parish.
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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
## **Income**
Ordinary income increased from £214,917 in 2021 to £238,943 in 2022 while extraordinary income was £6,863
|Planned
Collections
Unplanned
Gift Aid
Grants
Activities for generating funds
Investment income and interest
Income from charitable activities
Charity collections
Charity donations
Charity Gift Aid
St Saviour's AV system appeal
Legacies
Other|2022
2021
130,922
£
133,437
£
5,440
£
1,930
£
7,964
£
7,168
£
25,698
£
28,708
£
9,468
£
4,642
£
12,083
£
9,088
£
4,127
£
2,826
£
43,241
£
27,118
£|
|---|---|
||238,943
£
214,917
£
1,863
£
1,198
£
3,726
£
11,019
£
574
£
1,312
£
-
£
30,531
£
700
£
3,500
£
-
£
1,795
£|
||245,806
£
264,272
£|
Extraordinary income comprises:
- Appeals and collections for charities
- Legacies
Ordinary income comprises
**----- Start of picture text -----**
Ordinary Income
Income from
charitable
activities
18%
Investment
income and
interest
2%
Activities for
generating funds
5%
Planned
Grants 55%
4%
Gift Aid
11%
Unplanned
3%
Collections
2%
**----- End of picture text -----**
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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
- Planned donations. These are donations that are made on a regular basis and account for 55% of ordinary income. There was a slight drop of about £3,500 (about 3%) in planned donations compared to 2021. Planed donations are received through a number of sources:
- Parish Giving Scheme which allow donations to be indexed linked so that they increase with inflation annually
- Payments made to the church bank account by standing order
- Payments made through CAF
- Payments made through Stewardship (stewardship.org.uk)
- Collections at church services increased by £3,500 to £5,440 in 2022 accounting for 2% of income.
- Unplanned donations are donations that are not made regularly. These were £7,964 in 2022 broadly similar to 2021 accounting for 3% of ordinary income.
- Gift Aid is collected mainly on planned donations and collections through the GASDS (Gift Aid Small Donations Scheme). Gift Aid receipts accounted for 11% of ordinary but were about £3,000 less in 2022 compared to 2021 reflecting the drop in planned donations.
- Grants are received from a number of organisations. In 2022 grants totalling £9,468 (4% of ordinary income) were received from:
- Brockenhurst Parish Council to fund maintenance work on St Nicholas’ churchyard. The grants received were for work up to the end of September with the work from October being covered by another grant to be claimed in 2023
- Winchester Diocesan Board of Finance energy grant of £1,825
- South Baddesley PCC to help fund the Family and Children’s worker
- Boldre PCC to help fund the Family and Children’s worker
- Activities for generating funds is 5% of ordinary income and comprises income from:
- Advertising in the Parish Magazine
- Charges for wedding flower arrangements
- Hire of the church
- Investment income and interest is income from:
- Endowment investment dividends
- Interest from cash on deposit with the Winchester Board of Finance Loans (i.e. money we have loaned to the diocese)
- Other bank interest
- Income from charitable activities is 18% of ordinary income and comprises income received from:
- Fees for weddings and funerals. These consist of statutory fees laid down by parliament and nonstatutory fees (e.g. for heating, verger, organist) charged by the PCC
- Sale revenue from the Parish Magazine
- Revenues from St Nicholas bookstall and souvenir sales and the sales of John Purkess’ By_gone Brockenhurst books
- Payments for events e.g. the performances of the Screwtape Letters.
- Income from the church hall
## **Cash Flow**
Net cash flow was a reduction of £40,321 compared to an increase in cash of £59,184 in 2021. This is accounted for by cash being spent from the St Saviour’s AV appeal fund built up in 2021 and the cost of repairs identified by the Quinquennial Survey paid for from funds put aside in 2020.
The cost of St Saviour’s AV enhancement was £20,144 which left £10,413 cash in the AV appeal fund. It is planned that this will be spent on ordinary expenditure in accordance with the terms of the appeal. The cost of the
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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
installation has been capitalised so appears as an asset on the balance sheet to be depreciated over five years in compliance with the PCC policy on capital expenditure.
## **Ordinary Activities**
The church spends the money at its disposal on the following main items:
- The Common Mission Fund (Parish Share)
- Children and Families work
- Maintenance of the two church buildings (St Saviour’s and St Nicholas’), The church hall, and the churchyards
- Charitable giving from general income
- Other running expenses e.g. gas, electricity, insurance and salaries
- Mission to the parish e.g. Brockcare activities
Money to support these is available from a number of funds, primarily:
- The General Fund including the Hall Management Fund
- The St Nicholas’ Fund
- The St Nicholas’ Churchyard Income Fund
- The St Saviour’s Fund
- The Brockcare funds
In addition money is also available from:
- The Flower Trading Fund
- The Walker Munro Income Fund
- The Harding income fund
## **Looking Forward**
The PCC has employed a Children’s and Family worker starting in December 2022 on a three year contract. The cost of this is shared between Brockenhurst, South Baddesley and Boldre PCCs. At present funding for this work is coming from general funds.
## **Reserves**
The reserves policy is to keep a cash (or cash equivalent) reserve of three times the average monthly cash expenditure. The PCC considers this is sufficient to cover against
- A sudden loss of income
- Any major repairs that need to be funded urgently
The reserves comprise the cash held in unrestricted funds and at present exclude the cash held in the unrestricted Flower Trading Fund. The total cash reserves held on 31 December 2022 were £99,041 (£37,555 plus £61,486 deposited with the Winchester Diocesan Loans Fund) with an additional £2,943 held in the flower funds. The average monthly cash expenditure in 2022 was £23,000 for which the reserves policy requires a cash reserve of £69,000. Consequently, the surplus reserves available to spend at 31 December 2022 while maintaining the reserve required by the policy is £30,041.
## **Conclusions**
The repairs to St Saviour’s church identified by the Quinquennial Survey were scaled back and completed at an overall cost of £31,000 which was less than the original estimates enabling them to be funded almost entirely from the £30,000 put aside at the end of 2020.
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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
The enhancement to St Saviour’s AV system was installed at a cost of £20,144 leaving £10,400 in the AV fund to be spent with general funds.
To some extent the PCC is protected from the large increases in gas prices because the current gas contract is fixed until the end of August 2024 after which it is expected there will be price rise when the contract is renewed. The electricity contract ended at the end of August and was renewed until September 2024 albeit at a higher price.
Now that the Covid-19 pandemic is over income has returned to a normal pattern.
Unfortunately planned income which accounts for 55% of ordinary income (before Gift Aid is added) has fallen by 2% while inflation has risen to 10% and other income is more-or-less similar to previous years. As a result income is likely to fall short of expenditure. In addition, this income is vulnerable to an aging congregation with reductions to be expected in the next five to ten years.
The PCC has been able fund the employment of a Children’s and Family worker on a three year contract, as an important part of its ministry, from the funds currently available.
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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
## **Statement of trustee responsibilities applicable to members of the Parochial Church Council of the Ecclesiastical Parish of Brockenhurst (Brockenhurst PCC)**
The trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing the financial statements, the trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the Charities Statement of Recommend Practice (SORP);
- Make judgements and estimates that are reasonable and prudent;
- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- Prepare financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Annual Financial Statements**
The attached financial statements for the year ended 31 December 2022 have been prepared in accordance with the relevant Church Accounting Regulations, applicable Accounting Standards and Statement of Recommended Practice (FRS 102) 2015.
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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
## **Independent Examiner’s Report to Brockenhurst PCC**
We report on the accounts for the year ended 31 December 2022 which are set out on pages 14 to 29.
## **Respective responsibilities of the Trustees and Independent Examiner**
The church’s trustees are responsible for the preparation of the accounts. The church’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is our responsibility to:
- Examine the accounts under section 145 of the 2011 Act;
- Follow the procedures laid down in the General Directions given by the Charity Commissioners section 145(5)(b) of the 2011 Act; and
- State whether particular matters have come to our attention.
## **Basis of Independent Examiner’s Statement**
Our examination was carried out in accordance with the General Directions given by the Charity Commission.
An examination includes the 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 management committee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in a full audit, and consequently we do not express an audit opinion on the accounts.
## **Independent Examiner’s Statement**
In connection with our examination, no matters have come to my attention
1. which give us reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
2. to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mr L D Ball FCPA
Lewis Ball & Co William House 32 Bargates Christchurch Dorset BH23 1QL
18 March 2023
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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
## **Statement of Financial Activities for the year ended 31 December 2022**
|Note
**Income and Endowments from:**
Donations and Legacies
2(a)
Other trading activities
2(b)
Investments
2(c)
Charitable activities
2(d)
Other Income
2(e )|Unrestricted
Funds 2022
£
180,645
12,083
1,112
42,251
-|Restricted
Funds 2022
£
5,710
-
3,015
990
-|Endowment
Funds 2022
£
-
-
-
-
-|Total
2022
£
186,355
12,083
4,127
43,241
-|Unrestricted
Funds 2021
£
174,748
9,088
451
27,118
1,795|Restricted
Funds 2021
£
48,697
-
2,375
-
-|Endowment
Total
Funds 2021
2021
£
£
-
223,445
-
9,088
-
2,826
-
27,118
-
1,795|
|---|---|---|---|---|---|---|---|
|**Total**|236,091|9,715|-|245,806|213,200|51,072|-
264,272|
|**Expenditure on:**
Raising funds
3(a)
Charitable activities
3(b)|11,792
245,002|506
17,364|-
-|12,298
262,366|6,629
187,918|736
25,204|-
7,365
-
213,122|
|**Total**|256,794|17,870|-|274,664|194,547|25,940|-
220,487|
|**Net Income/(Expenditure)**
**Transfers between Funds**
**Other recognised gains/(losses)**
Gains/(losses) on investments
7|(20,703)
(2,537)
-|(8,155)
2,537
-|-
-
(11,018)|(28,858)
-
(11,018)|18,653
-
-|25,132
-
-|-
43,785
-
-
11,715
11,715|
|**Net Movement in Funds**|(23,240)|(5,618)|(11,018)|(39,876)|18,653|25,132|11,715
55,500|
|Balances brought forward at 1
January|114,067|47,855|93,603|255,525|95,414|22,723|81,888
200,025|
|**Balances carried forward at 31**
**December**|90,827|42,237|82,585|215,649|114,067|47,855|93,603
255,525|
The notes on pages 17 to 29 form part of these accounts
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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
## **Balance sheet at 31 December 2022**
|**Balance sheet at 31 December 2022**||||||||
|---|---|---|---|---|---|---|---|
|Note
**FIXED ASSETS**
Tangible assets
Investment assets: Endowment fund investments
6|Unrestricted
Funds 2022
£
-
-|Restricted
Funds 2022
£
22,173
-|Endowment
Funds 2022
£
-
82,585|Total Funds
2022
£
22,173
82,585|Unrestricted
Funds 2021
£
-
-|Restricted
Funds 2021
£
7,755
-|Endowment
Total Funds
Funds 2021
2021
£
£
-
7,755
93,603
93,603|
||-|22,173|82,585|104,758|-|7,755|93,603
101,358|
|**CURRENT ASSETS**
Stock
Investments
Debtors and prepayments
8
Short-term deposists
Cash at bank and in hand|5,930
-
63,897
-
40,499|-
-
46
-
23,591|-
-
-
-
-|5,930
-
63,943
-
64,090|1,900
-
64,219
-
62,631|-
-
434
-
41,780|-
1,900
-
-
-
64,653
-
-
-
104,411|
|**Total current assets**|110,326|23,637|-|133,963|128,750|42,214|-
170,964|
|**LIABILITIES**
Creditors - amounts falling due within one year
9|19,499|3,573|-|23,072|14,683|2,114|-
16,797|
|**Net current assets/(liabilities)**|90,827|20,064|-|110,891|114,067|40,100|-
154,167|
|**Total assets less current liabilities**
Creditors - amounts falling due after one year|90,827
-|42,237
-|82,585
-|215,649
-|114,067
-|47,855
-|93,603
255,525
-
-|
|**Total net assets**|90,827|42,237|82,585|215,649|114,067|47,855|93,603
255,525|
|**PARISH FUNDS**
Unrestricted
10(a)
Restricted
10(b)
Endowment
10(c)|90,827|42,237|82,585|90,827
42,237
82,585|114,067|47,855|114,067
47,855
93,603
93,603|
||90,827|42,237|82,585|215,649|114,067|47,855|93,603
255,525|
The notes on pages 17 to 29 form part of this account
Page 15
Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
## **Cash flow statement at 31 December 2022**
|Net cash from operating activities
Cash flows from investing activities
Dividends, interest and rent from investments
Purchase of:
Tangible fixed assets for use of the PCC
Change in cash and cash equivalents in the reporting period
Cash and cash eqivalents at 1 January
Cash and cash equivalents at 31 December
Reconciliation of net income/(expenditure) before investment gains
Net income before investment gains at 31 December
Adjustments for:
Depreciation charges
Dividends, interest and rent from investments
Decrease/(Increase) in stock
Decrease/(increase) in debtors
(Decrease)/Increase in creditors
Net cash provided by/(used in) operating activities
Analysis of cash and cash equivalents
Cash in hand
Notice deposits (less than 3 months)|End 2022
End 2022
End 2021
End 2021
(24,304)
56,358
4,127
2,826
(20,144)
-
(16,017)
2,826
(40,321)
59,184
104,411
45,227
64,090
104,411
(28,858)
43,785
5,726
7,345
(4,127)
(2,826)
(4,030)
(458)
710
2,643
6,275
5,869
(24,304)
56,358
64,090
104,411
-
-
64,090
104,411|
|---|---|
The notes on pages 17 to 29 form part of this account
Approved by the Parochial Church Council on 27 March 2023 and signed on its behalf by: Mr Peter Lay (Treasurer)
Page 16
## **Notes to the financial statements for the year ended 31 December 2022**
## **1. Accounting Policies**
The PCC is a public benefit entity within the meaning of FRS102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCC’s and with the Regulations “true and fair view” provisions.
The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of Church members.
## **Funds**
_Unrestricted funds_ are general funds which can be used for PCC ordinary purposes. They represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated by the PCC for a particular purpose, though also unrestricted, are separately disclosed.
_Restricted Funds_ represent donations, grants and other income received for a specific objective or invited by the PCC for a specific objective. The Funds may only be expended on the specific objective 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.
_Endowment Funds_ are funds, the capital of which must be maintained as determined by the terms of the Fund; only income arising from investment of the endowment may be used either as restricted or unrestricted funds depending on the purpose for which the endowment was established.
## **Income**
Planned giving, collections and donations are recognized when received. Tax refunds are recognized when the incoming resource 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 recognized when it is receivable. All incoming resources are accounted for gross. Amounts collected on behalf of other bodies at events held on church premises and handed to their representatives on the day are not considered to be incoming resources of the PCC and are not included in these statements.
## **Expenditure**
## _Grants_
Grants and donations are accounted for when paid over, or when awarded. Where the PCC has agreed in principle during the year to make grants up to a specified total, subject only to the ascertainment of the year’s result, and such grants are subsequently confirmed and paid, they are provided for in these accounts as an operational (though not a legal) liability and are shown as creditors in the Balance Sheet.
## _Activities directly relating to the work of the Church_
The diocesan parish share is accounted for when payable. Any Parish Share unpaid at 31 December is provided for in these financial statements as an operational (though not a legal) liability and is shown as a creditor in the Balance Sheet.
## **Assets**
## _Consecrated and benefice property_
In so far as consecrated and benefice property of any kind is excluded from the statutory definition of ‘charity’ by Section 109(2)(a) and (c) of the Charities Act 2011 such assets are not capitalised in the financial statements.
Page 17
Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
## _Moveable church furnishings_
These are capitalised at cost and depreciated over their useful economic life other than where insufficient cost information is available. In this case the item is not capitalised, but all items are included in the Church’s inventory in any case.
## _Tangible fixed assets for use by charity_
These are capitalised if they can be used for more than one year, and cost at least £1,000, They are valued at cost or else, for gifts-in-kind, at a reasonable estimate of their open market value on receipt.
Depreciation is calculated to write off the capitalised cost of fixed assets less their currently anticipated residual fair value over five years.
An impairment review is carried out at each year-end and any resultant loss identified included in expenditure for the year.
## _Investments_
Investments quoted on a recognised stock exchange or whose value derives from them are valued at market value at the year end. Other investment assets are included at the PCC’s best estimate of market value.
## _Short term deposits_
These are the cash held on deposit either with the CCLA, Diocesan Loans Fund or at the bank.
Page 18
Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
## **2. Income and Endowments**
|**2. Income and Endowments**||||||
|---|---|---|---|---|---|
|2(a)
Donations and Legacies
Planned giving:
Gift Aid donations
CAF
Other
Collections
Donations
Gift Aid donations
CAF
Other
Tax Recoverable
Grants
Legacies
2(b)
Activities for generating funds
Parish Magazine (advertising)
Wedding Flowers
Other
2(c)
Investments
Dividends on CBF Investment Fund
Bank and WDBF Loans Fund
2(d)
Charitable activities
Fees for weddings and funerals
Non-statutory fees
Parish magazine sales
Bookstall
Payments for events
Trading activities
Letting of hall
Wednesday Lunches
Other
2(e)
Other Income
Insurance claim
Covid-19 SSP refund
Advertising refund
Total incoming resources|Unrestricted
Funds 2022
£
88,205
24,800
17,881
5,122
969
250
8,482
25,618
9,318
-|Restricted
Funds 2022
£
36
-
-
2,181
325
100
1,564
654
150
700|Total
2022
£
88,241
24,800
17,881
7,303
1,294
350
10,046
26,272
9,468
700|Unrestricted
Funds 2021
£
89,055
25,050
19,134
1,582
4,506
-
5,243
25,686
4,492
-|Restricted
Total
Funds 2021
2021
£
£
87
89,142
-
25,050
111
19,245
1,546
3,128
15,623
20,129
13,200
13,200
10,146
15,389
4,334
30,020
150
4,642
3,500
3,500|
||180,645|5,710|186,355|174,748|48,697
223,445|
||5,859
5,300
924|-
-
-|5,859
5,300
924|5,649
2,520
919|-
5,649
-
2,520
-
919|
||12,083|-|12,083|9,088|-
9,088|
||-
1,112|3,014
1|3,014
1,113|-
451|2,375
2,375
-
451|
||1,112|3,015|4,127|451|2,375
2,826|
||6,087
7,904
4,671
12,115
2,000
4,374
5,100
-|-
-
-
-
990
-
-
-|6,087
7,904
4,671
12,115
2,990
4,374
5,100
-|4,552
4,460
4,858
9,320
730
967
2,229
2|-
4,552
-
4,460
-
4,858
-
9,320
-
730
-
967
-
2,229
-
2|
||42,251|990|43,241|27,118|-
27,118|
||-
-
-|-
-
-|-
-
-|1,660
135
-|-
1,660
-
135
-
-|
||-|-|-|1,795|-
1,795|
|||||||
||236,091|9,715|245,806|213,200|51,072
264,272|
Page 19
Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
## **3. Expenditure On**
|Unrestricted
Funds 2022
£
**3(a)**
**Raising funds**
Cost of generating funds
Trading
Bookstall
7,978
Wednesday lunches
3,393
Flower arranging
163
Cost of fetes and other events
258
11,792
**3(b)**
**Charitable Activities**
Missionary and charitable giving
4
8,819
Ministry:
Diocesan parish share
112,705
Other ministry costs
1,853
Gas, Electric & Water
6,016
Telephones
803
Insurance
6,948
Salaries & wages
5
35,686
Training & Mission costs
880
Stationery
4,493
Bank charges
590
Maintenance
7,642
Upkeep of sevices
2,957
Churchyard
3,559
Other running expenses
8,518
Major repairs - installation
-
Major repairs - structure
29,501
New Building Work
-
Other expenditure
-
Depreciation
-
Parish magazine costs
7,870
Church hall running costs
Gas & Electric
2,337
Maintenance
2,346
Other
1,479
245,002
**Total resources expended**
256,794|Unrestricted
Funds 2022
£
**3(a)**
**Raising funds**
Cost of generating funds
Trading
Bookstall
7,978
Wednesday lunches
3,393
Flower arranging
163
Cost of fetes and other events
258
11,792
**3(b)**
**Charitable Activities**
Missionary and charitable giving
4
8,819
Ministry:
Diocesan parish share
112,705
Other ministry costs
1,853
Gas, Electric & Water
6,016
Telephones
803
Insurance
6,948
Salaries & wages
5
35,686
Training & Mission costs
880
Stationery
4,493
Bank charges
590
Maintenance
7,642
Upkeep of sevices
2,957
Churchyard
3,559
Other running expenses
8,518
Major repairs - installation
-
Major repairs - structure
29,501
New Building Work
-
Other expenditure
-
Depreciation
-
Parish magazine costs
7,870
Church hall running costs
Gas & Electric
2,337
Maintenance
2,346
Other
1,479
245,002
**Total resources expended**
256,794|Restricted
Funds 2022
£
-
-
506|Total
Unrestricted
2022
Funds 2021
£
£
7,978
3,484
3,393
1,102
163
2,043
764
-|Total
Unrestricted
2022
Funds 2021
£
£
7,978
3,484
3,393
1,102
163
2,043
764
-|Restricted
Total
Funds 2021
2021
£
£
-
3,484
1,102
-
2,043
736
736|
|---|---|---|---|---|---|
||11,792|506|12,298|6,629|736
7,365|
||8,819
112,705
1,853
6,016
803
6,948
35,686
880
4,493
590
7,642
2,957
3,559
8,518
-
29,501
-
-
-
7,870
2,337
2,346
1,479|3,824
-
426
-
-
-
120
-
-
-
576
1,029
3,782
304
-
1,577
-
-
5,726
-
-
-
-|12,643
112,705
2,279
6,016
803
6,948
35,806
880
4,493
590
8,218
3,986
7,341
8,822
-
31,078
-
-
5,726
7,870
2,337
2,346
1,479|10,000
105,442
1,230
4,465
896
6,694
26,845
251
4,256
660
5,098
1,171
1,086
4,342
4,099
-
-
-
-
7,603
1,630
1,706
444|13,049
23,049
-
105,442
159
1,389
-
-
4,465
-
896
-
6,694
108
26,953
-
251
-
4,256
-
660
1,456
6,554
307
1,478
724
1,810
76
4,418
-
4,099
1,980
1,980
-
-
-
-
7,345
7,345
-
7,603
-
1,630
-
1,706
-
444|
||245,002|17,364|262,366|187,918|25,204
213,122|
|||||||
||256,794|17,870|274,664|194,547|25,940
220,487|
Page 20
Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
## **4. Missionary and Charitable Giving**
|**Overseas missionary and relief societies:**
Bible Society
Church Mission Society
DEC (Pakistan Floods)
Embrace the Middle East
Leprosy Mission
Jerusalem & Middle East Church Association
Lent boxes
Rwanda
Sat 7
Tearfund
UNICEF|Unrestricted
Funds 2022
£
1,000
2,500
819
-
-
500
-
500
500
1,000
-
6,819
500
-
-
-
-
500
-
1,000
-
500
500
-
1,000
8,819|Restricted
Funds 2022
£
-
-
-
626
255
-
702
550
-
210
250
2,593
-
105
205
-
-
-
-
310
295
-
-
626
921
3,824|Endowment
Funds 2022
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|Total
Total
2022
2021
£
£
1,000
1,000
2,500
2,579
626
367
255
-
500
750
702
796
1,050
13,008
500
500
1,210
1,000
250
-
8,343
20,000
500
105
205
326
-
750
-
283
500
639
-
-
705
1,998
295
184
500
-
500
500
626
367
1,921
1,051
10,969
23,049|
|---|---|---|---|---|
||||||
|**Home missions and other church societies:**
A Rocha
Acorn Chaplaincy
Childrens' Society
Christians Against Poverty
Mission to Seafarers
UCCF
Young Minds|||||
||||||
|**Local charities:**
Basics Bank
Brockenhurst Day Care Centre
Brockenhurst Gateway (New Forest Mencap)
Oakhaven Hospice|||||
||||||
||||||
|**Total Missionary and charitable giving**|||||
Page 21
Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
## **5. Staff Costs**
|Wages and salaries
National Insurance
Pension
Life Assurance
Training|2022
2021
£
£
34,874
26,827
-
-
925
116
7
10
-
-
35,806
26,953|
|---|---|
During year the PCC employed a Parish Administrator; Family and Children’s worker; verger; organists; caretaker and cleaners for the church and hall. No employee was paid more than £60,000
## **6. Related Parties**
No payments or expenses were paid to any PCC member, or persons closely connected to them or related parties.
Page 22
Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
## **7. Investments**
|Market value at 1 January 2022
Disposal
Purchases at cost
Net gains/(loses)
Market value at 31 December 2022
Units held|St Nicholas'
Churchyard
£
65,432
-
-
(7,702)
57,730
2,794|Walker
Munro
£
16,930
-
-
(1,993)
14,937
723|Harding
Total
£
£
11,241
93,603
-
-
-
-
(1,323)
(11,018)
9,918
82,585
480|
|---|---|---|---|
The St Nicholas’ Churchyard, Walker Munro and Harding endowment funds are invested in CBF Church of England Investment Fund – Income Shares.
## **8. Debtors and Prepayments**
|Debtors
Gift Aid Tax
HMRC (employment)
Diocesan Loans Fund
Other debtors
Prepayments|Unrestricted
Funds 2022
£
1,079
-
61,966
852
63,897
-
63,897|Restricted
Funds 2022
£
46
-
-
-
46
-
46|Endowment
Funds 2022
£
-
-
-
-
-
-
-|2022
2021
£
£
1,125
2,257
-
-
61,966
61,569
852
727
63,943
64,553
-
100
63,943
64,653
Total Funds|
|---|---|---|---|---|
Page 23
Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
## **9. Liabilities**
|Accruals and deferred income
Charities
Other
Creditors for goods and services
Other creditors|Unrestricted
Funds 2022
£
7,265
6,931
14,196
5,303
-
19,499|Restricted
Funds 2022
£
3,215
91
3,306
267
-
3,573|Endowment
Funds 2022
£
-
-
-
-
-
-|2022
2021
£
£
10,480
957
7,022
9,018
17,502
9,975
5,570
6,822
-
-
23,072
16,797
Total Funds|
|---|---|---|---|---|
Page 24
Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
## **10. Funds**
## **10(a) Unrestricted Funds**
|**) Unrestricted Funds**||||||
|---|---|---|---|---|---|
|General
Hall
Fabric
Music
Flower (Trading)|Balance at
1 January|Incoming
Resources|Resources
Expended|Net|Transfers
Balance at
31 December|
||84,276
(3,659)
30,000
600
2,850
114,067|219,553
11,018
-
220
5,300
236,091|(209,620)
(12,962)
(29,501)
-
(4,711)
(256,794)|9,933
(1,944)
(29,501)
220
589
(20,703)|(1,544)
92,665
-
(5,603)
(499)
-
-
820
(494)
2,945
(2,537)
90,827|
For administrative and monitoring purposes the PCC has designated its unrestricted funds into five funds:
- The General Fund is used for the day-to-day running expenses of the church activities that cannot be charged to any other fund;
- The Hall Fund is used for the day-to-day running expenses of the church hall under the control of the Hall Management committee;
- The Fabric Fund was created from unrestricted monies at the end of 2021 as a designated fund to help pay for the repairs identified by the 2020 Quinquennial Survey. This fund has now been spent on the repairs to St Saviour’s fabric.
- The Music Fund is a designated fund to be spent on the enhancement of music within the worship of both churches.
- The Flower (trading) Fund is a designated fund that accounts for funds raised in the provision and arrangement of church flowers for weddings and funerals. The net income of this fund is used to support the provision of flowers for church services also partly funded by the Flower Pot Fund.
Page 25
Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
## **10(b) Restricted Funds**
|**) Restricted Funds**|||||||
|---|---|---|---|---|---|---|
|Note
St Nicholas'
St Nicholas' Churchyard Fund Income
Total St Nicholas'
St Saviour's
St Saviour's AV system
St Saviour's AV2 system
Walker Munro Fund Income
Total St Saviour's
Youth Worker
Total Youth
Brockcare
General
Christmas Lunch
Holidays at Home
Total Brockcare
Charities
4
Flower Pot
Music
Harding Fund Income
Total other restricted funds
Total restricted funds|Note|Balance at
1 January|Incoming
Resources|Resources
Expended|Net|Transfers
Balance at
31 December|
|||83
1,882
1,965
-
7,757
30,530
452
38,739
61
61
(724)
1,046
521
843
679
177
451
4,940
6,247
47,855|745
2,275
3,020
-
-
26
444
470
45
45
280
585
930
1,795
3,726
364
-
295
4,385
9,715|(222)
(3,677)
(3,899)
(120)
(4,047)
(1,679)
(1,577)
(7,423)
(426)
(426)
(10)
(294)
(506)
(810)
(3,824)
(1,029)
(354)
(105)
(5,312)
(17,870)|523
(1,402)
(879)
(120)
(4,047)
(1,653)
(1,133)
(6,953)
(381)
(381)
270
291
424
985
(98)
(665)
(354)
190
(927)
(8,155)|-
606
809
1,289
809
1,895
120
-
-
3,710
-
28,877
794
113
914
32,700
320
-
320
-
-
(454)
-
1,337
-
945
-
1,828
-
581
494
6
-
97
-
5,130
494
5,814
2,537
42,237|
There are a number of restricted funds that account for money donated for specific purposes. In 2022 these funds accounted for income of £9,715 and expenditure of £17,870. These funds include the St Saviour’s AV and AV2 Funds both of which have capitalised assets with total depreciation of £5,726 in 2022.
Specific points regarding each fund are:
- St Nicholas’
- This accounts for money donated specifically for the maintenance and other running costs of St Nicholas’ church.
- Income received in 2022 included a legacy of £700
- £222 was spent on maintenance costs.
- St Nicholas Churchyard Income
- This fund accounts for the investment income received from the St Nicholas Churchyard endowment fund. This income may be spent on the maintenance of the churchyard and any surplus on the maintenance of St Nicholas’ church.
- Expenditure included
- £1,440 spent on the handrail leading to St Nicholas’ church
- £2,028 on tree work
- St Saviours
- This fund accounts for money donated specifically for the maintenance and other running costs of St Saviour’s church.
- St Saviour’s AV System
Page 26
Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
- This fund accounts for the appeal income raised in 2018 to pay for the installation of a new sound system in St Saviour’s church.
- The cost of the sound system was capitalised and this fund now accounts for the depreciation of the sound system over a five year period.
- The 2022 expenditure of £4,047 is the cost of depreciation for 2022.
- The system will be fully depreciated in 2023
- St Saviour’s AV2 system
- This fund accounts for the appeal income raised in 2021 to pay for the installation of cameras, projectors and projection screens. This raised a total of £30,531 in 2021 which was reported as income to the AV fund in the 2021 accounts.
- The cost of the camera and projector installation was £20,144 which has been capitalised
- The 2022 expenditure of £1,679 is the cost of depreciation for 2022
- Walker Munro Income
- This fund accounts for the investment income received from the Walker Munro endowment fund.
- The exact purpose of this fund is unclear as no formal documentation can be found. The PCC have therefore decided that this fund can be used to support the costs of St Saviour’s church the construction of which was paid for by the Walker Munro family of Rhinefield House.
- Money from the fund was used as part payment for the repairs to St Saviour’s church recommended in the 2020 Quinquennial Survey.
- Brockcare General
- This fund accounts for the general costs of running the Brockcare activities. Brockcare activities such as Holiday at Home attract grant income which is difficult to allocate to general costs. Consequently, the general fund is overspent while more specific funds are in surplus. However, the Brockcare funds have a combined closing value of £1,828
- Christmas Lunch
- This fund accounts for the income and expenditure associated with providing the Christmas lunch.
- The total income of £585 comprises charges made for the lunch and donations.
- Income exceeded expenditure resulting in a small surplus of £291
- Holidays at Home
- This fund accounts for the income and expenditure for the annual Holidays at Home
- Income, including a grant of £150 from the Groome Trust exceeded expenditure by £424
- Charities
- Any collection (such as those at Easter, harvest and Christmas) or other fund raising activity on behalf of other charities is treated as a restricted fund. Details of the charities supported in this way are detailed in note 4 under the restricted funds heading.
- In total, £3,726 was raised for charities.
- Payments of £3,824 included some receipts left over from previous years.
- Music
- The music fund was established to support the musical activities of both churches in the parish (St Saviour’s and St Nicholas’). It is intended that this fund will be run down.
- Money from the fund was used in 2022 to pay for:
- Leader’s expenses for choir rehearsals
- Maintenance of St Nicholas’ Church organ
- Harding Income
- This accounts for investment income received from the Harding Investment Fund used to maintain the Harding grave in St Nicholas’ churchyard
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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
## **10 (c) Endowment Funds**
|Note
St Nicholas' Churchyard
Walker Munro
Harding|Balance at
1 January
57,243
14,811
9,834
81,888|Incoming
Resources
-
-
-
-|Resources
Expended
-
-
-
-|Investment
Gains
(7,702)
(1,993)
(1,323)
(11,018)|Transfers
Balance at
31 December
-
49,541
-
12,818
-
8,511
-
70,870|
|---|---|---|---|---|---|
The Endowment Funds comprise
- The St Nicholas Churchyard Fund which was established by a gift of £15,000. The investment income from the fund can be used for the maintenance of the St Nicholas Churchyard and also for maintenance of St Nicholas church;
- The purpose of this fund is unclear and the PCC have resolved that the investment income from the Walker Munro Fund can be used for the maintenance of St Saviours church;
- The Harding fund was established by a gift of £2,000 from Miss Harding to maintain her parents grave and to be used for other ecclesiastical purposes. The capital was left in trust to the Vicar and Church Wardens in 1976 for 79 years after which the capital becomes the property of the PCC.
## **11. Fixed Assets**
|Cost or valuation
At beginning of the year
Additions at cost
At end of the year
Depreciation
At beginning of the year
Charge for the year
At end of the year
Net book value
At beginning of the year
At end of the year|St S AV1
St S AV2
Total
£
£
£
20,117
-
20,117
-
20,144
20,144|
|---|---|
||20,117
20,144
40,261|
||12,362
-
12,362
4,047
1,679
5,726|
||16,409
1,679
18,088|
||7,755
-
7,755
3,708
18,465
22,173|
Page 28
Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2022
## **12. Retirement and Post-Employment Benefits**
Brockenhurst PCC participates in the Pension Builder Scheme section of CWPF for lay staff. CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of the Employer and other participating employers.
CWPF has two sections:
1. the Defined Benefits Scheme
2. the Pension Builder Scheme, which has two subsections;
- a. a deferred annuity section known as Pension Builder Classic, and,
- b. a cash balance section known as Pension Builder 2014.
## **Pension Builder Scheme**
Both sections of the Pension Builder Scheme are classed as defined benefit schemes.
_**Pension Builder Classic**_ provides a pension, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending on investment returns and other factors.
_**Pension Builder 2014**_ is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65.
There is no sub-division of assets between employers in each section of the Pension Builder Scheme.
The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are the contributions payable (2022: £925, 2021: £116).
A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2019. The next valuation is due as at 31 December 2022.
For the Pension Builder Classic section, the valuation revealed a deficit of £4.8m on the ongoing assumptions used. At the most recent annual review, the Board chose to grant a discretionary bonus of 10.1% following improvements in the funding position over 2022. There is no requirement for deficit payments at the current time.
For the Pension Builder 2014 section, the valuation revealed a surplus of £5.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time.
The legal structure of the scheme is such that if another employer fails, Brockenhurst PCC could become responsible for paying a share of the failed employer’s pension liabilities.
Page 29