2023-12-31-accounts - The Parochial Church Council Of The Ecclesiastical Parish Of Brockenhurst

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Brockenhurst Parochial Church Council St. Nicholas' with St. Saviour's

Registered Charity 1131796

Annual Report

and

Financial Statements

for the year ended 31 December 2023

Vicar:

Revd. Simon Newham

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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2023

Annual Report for 2023

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:

Brenda Peers-Ross 29 Drift Road Selsey Chichester West Sussex PO20 0PW

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 2023

Parochial Church Council

During the period 1 January 2023 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 Mrs Wendy Lay From 19 April 2023 Mr John Pearson Elected Members Mrs Pauline Brown Mr Bob Coombs Resigned January 2024 Mrs Liz Dodwell From 19 April 2023 Mr Tim Dodwell Mr Martin Fletcher Mrs Jane Forrest Mr Tony Foulger Mrs Joyce Kolaczkowski To 19 April 2023 Mrs Wendy Lay To 19 April 2023 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 2023

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 204 parishioners on the Church Electoral Roll at the 2023 APCM, of whom 28 were not resident in the Parish compared with 208 in 2022. 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

Church and event attendance to has now largely returned to a pre-covid level although the average age of the congregation is increasing and overall numbers are on a gentle decline.

The PCC met on its planned bi-monthly schedule throughout 2023 with the PCC Teams meeting regularly and reporting to the PCC for guidance where necessary.

The key points of focus for our Church in 2023 were:

Providing a weekly pattern of worship and community for our congregations
Opening our churches (St Nicholas’ church and St Saviour’s) each day
A series of events focussing on our Year of Sharing our Faith
Community engagement activities such as Brockcare and Eco Church
Expanding use of our Church Hall for local groups and events
Digital Church – use of display screens and digital music with online recordings
SO4:12 a children’s focussed monthly Sunday morning ‘event’ held in the Primary School Hall.

Support for our congregations

Our pattern of weekly services continued as:

Sunday 09:00 Holy Communion at St Nicholas’ (BCP on first Sunday of month)
Sunday 10:30 Sunday Worship at St Saviour’s (Holy Communion on third Sunday)
Thursday 10:00 Holy Communion at St Saviour’s

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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2023

From September 2023 we started an experiment to hold the third Sunday 09:00 Holy Communion service at St Saviours to encourage the congregations to mix and save on weekly heating cost for two buildings.

Throughout the year our Vicar Simon led daily Morning and Evening Prayer online following the pattern of 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 discontinued after the summer to be replaced by SO4:12 – a children focussed service event held on the fourth Sunday in the Primary School Hall. This event combines song, games and craft around a bible theme and has gathered an increasing following from pre-school families. The 1030 service in St Saviours continues at the same time providing for the older congregation.

Our House-Groups were an important source of fellowship and learning during 2023 and actively engaged in the Year of Sharing our Faith by each organising an event to spend time with those outside our fellowship.

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 crochet poppies in St Saviour’s grounds 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 with the Christmas Eve Crib service attracting more than 200 people including many families with children.

Simon Newham, our vicar, continued to work in the three primary schools adding to his contribution as a Governor at Brockenhurst. Brockenhurst College supported and encouraged our Children and Youth coordinator who facilitated term time weekly Christian Union meetings including a popular ‘grill the vicar’ event.

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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2023

Schools Outreach

Mel Osborne, our Children and Families Worker, is working within the three Church Primary Schools of our Benefice Brockenhurst, William Gilpin (Boldre) and South Baddesley. She is supporting the children and teacher teams in each school as they seek to present the relevance of Christ’s message.

Through the year Mel has developed strong links with the children and families, with many good conversations showing the love of God for all.

We were thrilled when Mel was accept for Ordination during 2023 and we have welcomed her fully into Brockenhurst church as part of her ordination training over the next three years.

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, Thursday coffee mornings (CAMEO, C ome A nd M eet E ach O ther) and Light Lunch as well as our annual Holidays At Home were enthusiastically supported by older member of our community.

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 in both buildings.

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. This has been a significant call on his time during 2023 with two parishes going through interregnum. In addition Andrew Neaum retired as House for Duty priest in Boldre and South Baddesley giving Simon further calls on his time and were thankful that Terence Handley MacMath was appointed as Andrew’s replacement in September.

Our Curate Stephen Bennet, Ordinand Luke Augustyn and associate priest Mary Nicholson provided valuable support to Simon throughout the year, as did our retired clergy Diane Webster and Alan Graham and Local Licenced Ministers Tony Foulger and John Pearson.

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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2023

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 19 April 2023. However, due to the death of Mr Ball the PCC has appointed Brenda PeersRoss as Independent Examiner.

Overall Summary

Total income was £276,433 while total expenditure was £259,354 (before unrealised investment gains) resulting in a net surplus £17,079 compared to net deficit in 2022 of £28,859. However, these figures include a number of exceptional items:

VAT reclaim of £4,872 spent on St Saviour’s roof and stonework repairs in 2022.
Appeal receipts of £14,116 for St Nicholas’ path
£3,000 donation for church maintenance
Depreciation costs of £3,709 for the St Saviour’s audio system installed in 2018 and £4,012 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.
Grants of £8,316 from the Parish Council to offset employment costs for work on St. Nicolas’ churchyard on behalf of the Council.

The CBF Endowment Fund investments increased in value by 7,769 compared to a decrease in value of £11,018 in 2022 and a gain in value in 2021 of £11,715.

Expenditure

Ordinary expenditure increased from £234,037 in 2022 to £248,511 in 2023 while extraordinary expenditure in 2023 was £10,843 compared to £40,628 in 2022.

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 repairs Depreciation	2023 2022 108,392 £ 112,705 £ 9,511 £ 8,819 £ 57,959 £ 35,806 £ 5,894 £ 10,564 £ 3,475 £ 7,341 £ 9,377 £ 8,353 £ 53,903 £ 50,449 £ 248,511 £ 234,037 £ 3,105 £ 3,824 £ - £ 31,078 £ 7,738 £ 5,726 £ 10,843 £ 40,628 £ 259,354 £ 274,665 £

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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2023

Extraordinary expenditure comprises:

Money given to charities from special appeals and collections
Depreciation charges for the St Saviours Audio Visual (AV) system

----- Start of picture text -----
Ordinary Expenditure
Other running
costs
22%
Utilities (Gas
electric and water)
Common Mission
4%
Fund
44%
Churchyard
1%
Maintenance of
both churches and
hall
2%
Staff salaries Donations to
23% charities
4%
----- End of picture text -----

Ordinary expenditure comprises:

Payments to the diocesan Common Mission Fund. These were £108,392 in 2023 which is a decrease of about £4,000 compared to 2022.
Donations to charities from General Funds amounting to £9,511.
Staff salaries increased by about £22,000 to £57,959 an increase of 62%. 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 £5,894 in 2023 compared to £10,564 in 2022 which included repairs to St Saviour’s boiler costing £5,000.
The churchyard maintenance costs were £3,475 compared to 7,341 in 2022.
Utilities (gas, electric and water) charges were £9,377 compared to £8,353 in 2022. The previous electricity contract finished at the end of August 2022 and a new, two year, contract was started from 1 September. The gas tariff was unchanged for 2023 as the current gas contract is a fixed price for three years from 1 September 2021. Consequently, the current 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 2023

Income

Ordinary income increased from £239,555 in 2022 to £253,910 in 2023 while extraordinary income in 2023 was £22,523 compared to £6,251 in 2022.

Extraordinary income comprises:

Appeal and collection income for charities
Legacies received
Non-recurring grants
Appeal income

Extraordinary income in 2023 included:

Appeal income from St Nicholas’ Path appeal of £14,116
Non-recurring grant of £4,872 recovering VAT paid on the St Saviour’s roof repairs in 2022

Income Ordinary Planned Collections Unplanned Gift Aid Grants Activities for generating funds Investment income and interest Income from charitable activities Extraordinary/appeals Charity collections Charity donations Charity Gift Aid St Nicholas' Path Grants Legacies Other Total Income	2023 2022 129,845 £ 130,922 £ 7,664 £ 5,440 £ 9,656 £ 10,401 £ 27,700 £ 25,698 £ 24,664 £ 7,643 £ 9,353 £ 12,083 £ 5,581 £ 4,127 £ 39,447 £ 43,241 £ 253,910 £ 239,555 £ 588 £ 1,863 £ 2,482 £ 1,289 £ 265 £ 574 £ 14,116 £ - £ 4,872 £ 1,825 £ 200 £ 700 £ - £ - £ 22,523 £ 6,251 £ 276,433 £ 245,806 £

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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2023

----- Start of picture text -----
Ordinary Income
Income from
charitable
activities
Investment
15%
income and
interest
2%
Activities for
generating funds
4%
Planned
51%
Grants
10%
Gift Aid
11%
Unplanned
4% Collections
3%
----- End of picture text -----

Ordinary income comprises:

Planned donations. These are donations that are made on a regular basis and account for 51% of ordinary income. There was a slight drop of about £1,000 in planned donations compared to 2022. 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
Regular payments made through CAF
Regular payments made through Stewardship (stewardship.org.uk)
Collections at church services. These increased by £2,200 to £7,664 in 2023 accounting for 3% of income.
Unplanned donations are donations that are not made regularly. These were £9,656 in 2023 £745 less than in 2022 accounting for 4% of ordinary income.
Gift Aid is collected mainly on planned donations and on collections through the GASDS (Gift Aid Small Donations Scheme). Gift Aid receipts were £27,700 in 2023, £2,000 more than 2022 accounting for 11% of ordinary income
Grants are received from a number of organisations. In 2023 recurring grants totalling £24,664 (10% of ordinary income) were received from:
Brockenhurst Parish Council to fund maintenance work on St Nicholas’ churchyard. This work will cease at the end of January 2024. The grants rceived in 2023 were for work up to the end of September with the work from October being covered by another grant to be claimed in 2024
Listed Places of Worship (LPW) Grant Scheme
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

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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2023

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, souvenir sales and the profit from sales of John Purkess’ ByGone Brockenhurst books. The production costs of the By-Gone Brockenhurst books are paid by the PCC which retains the profits from the sales which amounted to £3,800 in 2023
Payments for events e.g. the performances of the Titanic the Last Hero and the last coward by the searchlight theatre company.
Income from the church hall

Cash Flow

Net cash flow in 2023 was an increase of £16,441 compared to a decrease in cash of £40,321 in 2022. The increase in cash is accounted for by cash paid to and retained in the St Nicholas’ Path Fund; 2022 expenditure including cash 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.

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

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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2023

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 2023 were £99,895 (£38,409 held by the bank plus £61,486 deposited with the Winchester Diocesan Loans Fund) with an additional £2,830 held in the flower funds. The average monthly cash expenditure in 2023 was £22,600 for which the reserves policy requires a cash reserve of £67,800. Consequently, the surplus reserves available to spend at 31 December 2023 while maintaining the reserve required by the policy is £32,095.

Conclusions

The 2023 net income across all funds was £17,079 compared to a deficit of £28,859 in 2022. However, these figures are not easy to compare because the 2022 total includes

Extraordinary expenditure of £31,078 for St Saviour’s repairs identified by the last Quinquennial Inspection from funds put aside in 2021
Extraordinary non-recurring energy grant from the diocese of £1,825

While the 2023 total includes

Appeal donations of £14,116 (unspent to date) received for St Nicholas’ Path Fund.
Grant for the recovery of VAT paid as part of the £31,078 cost of St Saviour’s repairs.

The net figures for ordinary income and expenditure in 2023 and 2022 were £5,399 and £5,518 respectively.

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.

Income from ordinary donations (planned, collections, unplanned and Gift Aid) has remained more-or-less the same as 2022 while inflation has peaked at around 10%. As a result future 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 2023

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 2023 have been prepared in accordance with the relevant Church Accounting Regulations, applicable Accounting Standards and Statement of Recommended Practice (FRS 102) 2019.

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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2023

Independent Examiner’s Report to Brockenhurst PCC

I have examined the accounts of the Charity set out on pages 15 to 30, which have been prepared on the accrual concept for financial year ending 31[st] December 2023.

This report is made solely to the Trustees in accordance with Section 43 (3) (a) of the Charities Act 2011. My work has been undertaken so that I might state to the Trustees those matters which we are required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Trustees for our work, for this report, or for the opinions we have formed.

Respective responsibilities of the Trustees and examiner

As described on page 5 the Charity's Trustees are responsible for the preparation of the accounts; you consider that the audit requirements of Section 144 (2) of the Charities Act 2011 (the Act) does not apply. It is our responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under Section 156 of the Act, whether particular matters have come to our attention.

Basis of independent examiner's report

My examination was conducted in accordance with the General Directions given by the Charity Commissioners. 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 you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the accounts.

Independent examiner's statement

In connection with our examination, no matter has come to my attention:

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 Act; and
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met:

2 to which, in my opinion, attention should be drawn to enable a proper

understanding of the accounts to be reached.

Brenda Peers-Ross

Brenda Peers-Ross FMAAT. ACIE

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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2023

Statement of Financial Activities for the year ended 31 December 2023

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 2023 £ 199,574 9,353 3,075 38,467 -	Restricted Funds 2023 £ 22,478 - 2,506 980 -	Endowment Funds 2023 £ - - - - -	Total 2023 £ 222,052 9,353 5,581 39,447 -	Unrestricted Funds 2022 £ 180,645 12,083 1,112 42,251 -	Restricted Funds 2022 £ 5,710 - 3,015 990 -	Endowment Total Funds 2022 2022 £ £ - 186,355 - 12,083 - 4,127 - 43,241 - -
Total	250,469	25,964	-	276,433	236,091	9,715	- 245,806
Expenditure on: Raising funds 3(a) Charitable activities 3(b)	13,984 229,307	1,155 14,908	- -	15,139 244,215	11,792 245,002	506 17,365	- 12,298 - 262,367
Total	243,291	16,063	-	259,354	256,794	17,871	- 274,665
Net Income/(Expenditure) Transfers between Funds Other recognised gains/(losses) Gains/(losses) on investments 7	7,178 (956) -	9,901 956 -	- - 7,769	17,079 - 7,769	(20,703) (2,537) -	(8,156) 2,537 -	- (28,859) - - (11,018) (11,018)
Net Movement in Funds	6,222	10,857	7,769	24,848	(23,240)	(5,619)	(11,018) (39,877)
Balances brought forward at 1 January	90,827	42,237	82,585	215,649	114,067	47,856	93,603 255,526
Balances carried forward at 31 December	97,049	53,094	90,354	240,497	90,827	42,237	82,585 215,649

The notes on pages 17 to 30 form part of these accounts

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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2023

Balance sheet at 31 December 2023

Note FIXED ASSETS Tangible assets Investment assets: Endowment fund investments 6	Unrestricted Funds 2023 £ - -	Restricted Funds 2023 £ 14,436 -	Endowment Funds 2023 £ - 90,354	Total Funds 2023 £ 14,436 90,354	Unrestricted Funds 2022 £ - -	Restricted Funds 2022 £ 22,173 -	Endowment Funds 2022 £ - 82,585	Total Funds 2022 £ 22,173 82,585
	-	14,436	90,354	104,790	-	22,173	82,585	104,758
CURRENT ASSETS Stock Investments Debtors and prepayments 8 Short-term deposists Cash at bank and in hand	5,818 - 64,877 - 41,239	- - 18 - 39,292	- - - - -	5,818 - 64,895 - 80,531	5,930 - 63,897 - 40,499	- - 45 - 23,591	- - - - -
								5,930
								-
								63,942
								-
								64,090

Total current assets	111,934	39,310	-	151,244	110,326	23,636	-	133,962
LIABILITIES Creditors - amounts falling due within one year 9	14,885	652	-	15,537	19,499	3,573	-

								23,072

Net current assets/(liabilities)	97,049	38,658	-	135,707	90,827	20,063	-	110,890
Total assets less current liabilities Creditors - amounts falling due after one year	97,049 -	53,094 -	90,354 -	240,497 -	90,827 -	42,237 -	82,585 -
								215,649
								-

Total net assets	97,049	53,094	90,354	240,497	90,827	42,237	82,585	215,649
PARISH FUNDS Unrestricted 10(a) Restricted 10(b) Endowment 10(c)	97,049	53,094	90,354	97,049 53,094 90,354	90,827	42,237	82,585

								90,827
								42,237
								82,585

	97,049	53,094	90,354	240,497	90,827	42,237	82,585	215,649

The notes on pages 17 to 30 form part of this account

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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2023

Cash flow statement at 31 December 2023

Cash flow statement at 31 December 2023
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 2023	End 2023 End 2022 End 2022 10,860 (24,304) 4,127 (20,144) 5,581 (16,017) 16,441 (40,321) 64,090 104,411 80,531 64,090 17,079 (28,858) 7,738 5,726 (5,581) (4,127) 112 (4,030) (953) 710 (7,535) 6,275 10,860 (24,304) 80,531 64,090 - - 80,531 64,090
	5,581 -

The notes on pages 17 to 30 form part of this account

Approved by the Parochial Church Council on 12 April 2023 and signed on its behalf by: Mr Peter Lay (Treasurer)

Page 17

Notes to the financial statements for the year ended 31 December 2023

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.

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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2023

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.

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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2023

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) Letting of Church 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 2023 £ 95,368 20,300 14,177 7,274 1,135 550 10,990 27,250 22,530 -	Restricted Funds 2023 £ - - - 978 3,596 100 9,883 715 7,006 200	Total 2023 £ 95,368 20,300 14,177 8,252 4,731 650 20,873 27,965 29,536 200	Unrestricted Funds 2022 £ 88,205 24,800 17,881 5,122 969 250 8,482 25,618 9,318 -	Restricted Total Funds 2022 2022 £ £ 36 88,241 - 24,800 - 17,881 2,181 7,303 325 1,294 100 350 1,564 10,046 654 26,272 150 9,468 700 700
	199,574	22,478	222,052	180,645	5,710 186,355
	5,532 1,727 2,000 94	- - -	5,532 1,727 2,000 94	5,859 - 5,300 924	- 5,859 - - 5,300 - 924
	9,353	-	9,353	12,083	- 12,083
	- 3,075	2,470 36	2,470 3,111	- 1,112	3,014 3,014 1 1,113
	3,075	2,506	5,581	1,112	3,015 4,127
	4,457 4,939 5,530 12,556 1,631 3,959 5,395 -	- - - - 980 - - -	4,457 4,939 5,530 12,556 2,611 3,959 5,395 -	6,087 7,904 4,671 12,115 2,000 4,374 5,100 -	- 6,087 - 7,904 - 4,671 - 12,115 990 2,990 - 4,374 - 5,100 - -
	38,467	980	39,447	42,251	990 43,241
	- - -	- - -	- - -	- - -	- - - - - -
	-	-	-	-	- -

	250,469	25,964	276,433	236,091	9,715 245,806

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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2023

3. Expenditure On

Unrestricted Funds 2023 £ 3(a) Raising funds Cost of generating funds Trading Bookstall 8,077 Wednesday lunches 3,572 Flower arranging 403 Cost of fetes and other events 1,932 13,984 3(b) Charitable Activities Missionary and charitable giving 4 9,511 Ministry: Diocesan parish share 108,392 Other ministry costs 2,205 Gas, Electric & Water 6,319 Telephones 882 Insurance 7,649 Salaries & wages 5 57,374 Training & Mission costs 3,466 Stationery 4,886 Bank charges 608 Maintenance 2,002 Upkeep of sevices 1,450 Churchyard 1,825 Other running expenses 5,217 Major repairs - installation - Major repairs - structure - New Building Work - Other expenditure - Depreciation - Parish magazine costs 8,691 Church hall running costs Gas & Electric 3,058 Maintenance 3,440 Other 2,332 229,307 Total resources expended 243,291	Restricted Funds 2023 £ - - 1,155	Total Unrestricted 2023 Funds 2022 £ £ 8,077 7,978 3,572 3,393 403 163 3,087 258	Total Unrestricted 2023 Funds 2022 £ £ 8,077 7,978 3,572 3,393 403 163 3,087 258	Restricted Total Funds 2022 2022 £ £ - 7,978 3,393 - 163 506 764
13,984	1,155	15,139	11,792	506 12,298
9,511 108,392 2,205 6,319 882 7,649 57,374 3,466 4,886 608 2,002 1,450 1,825 5,217 - - - - - 8,691 3,058 3,440 2,332	3,105 - - - - - 585 45 - 31 452 974 1,650 328 - - - - 7,738 - - - -	12,616 108,392 2,205 6,319 882 7,649 57,959 3,511 4,886 639 2,454 2,424 3,475 5,545 - - - - 7,738 8,691 3,058 3,440 2,332	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 12,643 - 112,705 426 2,279 - - 6,016 - 803 - 6,948 120 35,806 - 880 - 4,493 - 590 576 8,218 1,029 3,986 3,782 7,341 304 8,822 - - 1,577 31,078 - - - - 5,727 5,727 - 7,870 - 2,337 - 2,346 - 1,479
229,307	14,908	244,215	245,002	17,365 262,367

243,291	16,063	259,354	256,794	17,871 274,665

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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2023

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 2023 £ 1,000 2,500 - 749 - 500 - 500 500 1,000 -	Restricted Funds 2023 £ - 20 - - - 79 - - - - -	Endowment Funds 2023 £ - - - - - - - - - -	Total Total 2023 2022 As Restated £ £ 1,000 1,000 2,520 2,500 772 819 749 626 - 255 579 500 - 702 500 1,050 500 500 1,000 1,210 - 250
	6,749	99	-	7,620 9,412
Home missions and other church societies: A Rocha Acrorn Chaplaincy Childrens' Society Mission to Seafarers UCCF	500 13 - 500	- 253 80 -	- - - -	500 500 - 105 266 205 80 - 500 500
	1,013	333	-	1,346 1,310
Local charities: Basics Bank Brockenhurst Day Care Centre Brockenhurst Gateway (New Forest Mencap) Oakhaven Hospice Grants from Hardship Fund School Cossing Patrol	- 500 500 749 - -	- - - - 50 1,851	- - - - - -	- 295 500 500 500 500 749 626 50 - 1,851 -
	1,749	1,901	-	3,650 1,921

Total Missionary and charitable giving	9,511	2,333	-	12,616 12,643

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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2023

5. Staff Costs

Wages and salaries National Insurance Pension Life Assurance Training	2023 2022 £ £ 55,957 34,874 - - 1,780 925 222 7 - - 57,959 35,806

During year the PCC employed a Parish Administrator; Family and Children’s worker; verger; organists; caretaker and cleaner 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.

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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2023

7. Investments

Market value at 1 January 2023 Disposal Purchases at cost Net gains/(loses) Market value at 31 December 2023 Units held	St Nicholas' Churchyard £ 57,730 - - 5,431 63,161 2,794	Walker Munro £ 14,937 - - 1,405 16,342 723	Harding Total £ £ 9,918 82,585 - - - - 933 7,769 10,851 90,354 480

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 2023 £ 690 - 62,380 1,807 64,877 - 64,877	Restricted Funds 2023 £ 18 - - - 18 - 18	Endowment Funds 2023 £ - - - - - - -	2023 2022 £ £ 708 1,125 - - 62,380 61,966 1,807 852 64,895 63,943 - - 64,895 63,943 Total Funds

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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2023

9. Liabilities

Accruals and deferred income Charities Other Creditors for goods and services Other creditors	Unrestricted Funds 2023 £ - 11,153 11,153 3,732 - 14,885	Restricted Funds 2023 £ 253 93 346 306 - 652	Endowment Funds 2023 £ - - - - - -	2023 2022 £ £ 253 10,480 11,246 7,022 11,499 17,502 4,038 5,570 - - 15,537 23,072 Total Funds

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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2023

10. Funds

10(a) Unrestricted Funds

10(a) Unrestricted Funds
General Hall Fabric Music Flower (Trading)	Balance at 1 January	Incoming Resources	Resources Expended	Net	Transfers Balance at 31 December
	92,665 (5,603) - 820 2,945 90,827	235,501 12,134 - 834 2,000 250,469	(225,117) (16,302) - (246) (1,626) (243,291)	10,384 (4,168) - 588 374 7,178	- 103,049 - (9,771) - - (468) 940 (488) 2,831 (956) 97,049

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.

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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2023

10(b) Restricted Funds

10(b) Restricted Funds
Note St Nicholas' St Nicholas' Churchyard Fund Income St Nicholas' Path Total St Nicholas' St Saviour's St Saviour's AV system St Saviour's AV2 system Walker Munro Fund Income Total St Saviour's Brockcare General Christmas Lunch Holidays at Home Total Brockcare Charities 4 Fabric Flower Pot Music Harding Fund Income Hardship Fund 4 Youth Worker Total other restricted funds Total restricted funds	Note	Balance at 1 January	Incoming Resources	Resources Expended	Net	Transfers Balance at 31 December
		606 1,289 - 1,895 - 3,709 28,877 113 32,699 (454) 1,337 945 1,828 581 - 6 97 5,130 - - 5,814 42,236	816 1,726 14,116 16,658 - - 17 447 464 300 330 750 1,380 3,335 3,020 480 80 297 250 - 7,462 25,964	(230) (1,545) (31) (1,806) - (3,709) (4,029) - (7,738) (67) (306) (1,155) (1,528) (3,055) (162) (974) (645) (105) (50) - (4,991) (16,063)	586 181 14,085 14,852 - (3,709) (4,012) 447 (7,274) 233 24 (405) (148) 280 2,858 (494) (565) 192 200 - 2,471 9,901	- 1,192 - 1,470 - 14,085 - 16,747 - - - - - 24,865 - 560 - 25,425 - (221) - 1,361 - 540 - 1,680 - 861 - 2,858 488 - 468 - - 5,322 - 200 - - 956 9,241 956 53,093

There are a number of restricted funds that account for money donated for specific purposes. In 2023 these funds accounted for income of £7,462 and expenditure of £4,991. These funds include the St Saviour’s AV and AV2 Funds both of which have capitalised assets with total depreciation of £7,738 in 2023.

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 2023 included a legacy of £200
£230 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
- £195 notice board maintenance
- £1,350 on tree work
St Nicholas Path
This fund was created in 2023 to raise funds for the replacement of the path leading from the gate to St Nicholas’ church and vestry. Work to replace the path is expected to be completed in 2024.

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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2023

The appeal raised £14,116 including a grant of £6,756 from The Brockenhurst Community Trust.
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
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 2023 expenditure of £3,709 is the cost of depreciation for 2023.
The capital cost of the system was 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 2023 expenditure of £4,029 is the cost of depreciation for 2023
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.
No money was expended from this fund in 2023..
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 £1,680
Christmas Lunch
This fund accounts for the income and expenditure associated with providing the Christmas lunch.
The total income of £330 comprises charges made for the lunch and donations.
The expenditure of £306 includes
Holidays at Home
This fund accounts for the income and expenditure for the annual Holidays at Home
Expenditure exceeded income by £405 leaving £540 in the fund at the end of 2023.
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, £3,335 was raised for charities.
The balance of £861 includes funds of £488 not allocated to a specific charity available to be donated in cases of urgent need.
Music
The music fund was established to support the musical activities of both churches in the parish (St Saviour’s and St Nicholas’). This fund has been run down over the course of 2023.
Money from the fund was used in 2023 to pay for:
- Organist fees for Christmas services
- Piano tuning
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 2023

10 (c) Endowment Funds

Note St Nicholas' Churchyard Walker Munro Harding	Balance at 1 January 49,541 12,818 8,511 70,870	Incoming Resources - - - -	Resources Expended - - - -	Investment Gains 5,431 1,405 933 7,769	Transfers Balance at 31 December - 54,972 - 14,223 - 9,444 - 78,639

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 20,144 40,261 - - -
	20,117 20,144 40,261
	16,408 1,679 18,087 3,709 4,029 7,738
	20,117 5,708 25,825
	3,709 18,466 22,175 - 14,436 14,436

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Brockenhurst Parochial Church Council – Annual Report for the year ended 31 December 2023

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:

the Defined Benefits Scheme
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 (2023: £1,780, 2022: £925) .

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.

For the Pension Builder Classic section, the 2019 valuation revealed a deficit of £4.8m on the ongoing assumptions used. At the most recent annual review effective 1 January 2024, the Board chose to grant a discretionary bonus of 6.7% to both pensions not yet in payment and pensions in payment in respect of service prior to April 1997; and a bonus on pensions in payment in respect of post April 2006 service so that the pension increase was 5% (where usually it would be calculated based on inflation up to 2.5%). This followed improvements in the funding position over 2023. There is no requirement for deficit payments at the current time.

For the Pension Builder 2014 section, the 2019 valuation revealed a surplus of £5.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time.

The next valuation was due as at 31 December 2022. Calculations for this are currently under way.

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.

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