CHARITY REGISTrATION NUMBER: 1131867 Workington St Michael Parochial Church Council Unaudited Financial Statements 31 December 2023 robinson+co Chartered Accountants
Workington St Michael Parochial Church Council Flnanclal Statements Year ended 31 Oecember'2023 Page TTustee8' annual report Independent examlneVs report to the trustees Statement of financlal activities statement of financial position Notes to the financial statements 10
Worklngton St f¥llchael Parochial Church Council Trustees, Annual Report Year ended 31 December 2023 The twstees present their repcrft and the unaudited ffnanci81 slalements of the PCC for the year ended. 31 December2023. Refcr¢nG? and admln15tratJve detalls Reglstered charfty name Vorkinglon Sl Michael Parochial Church Council Charlty reglstratlon number 1131867 Workinylon Parothial Churrh cou1 Parish Office Sl Mi¢haBI's Chwch Falcon Place Worklngton CA14 2EZ The trustees In 2023 Chalr The Very Revd DT Frances Ward Assoclate Prl&st The Revd Dr Peter Powe Reader fvls Charlotte Lail s Rachel Rose R8ader emeTItus Mr Rlchard Jones Plon8er Mln19ter Mr5 Valerie Hallard Wardens Mr Eric Martln Mrs Wenty Kendall trom APCM 2023 Secrètary Mrs Jula Sharpe Trèasurer Mrs Joanne Branlff Lay Chalrpgrson Mr Erfo Martin Deanèry Synod Representatlves Mr Mfflkirnson Mrs Julla Shorpe Mrs Margaret Nithol Safèguardlng Offltèr Mr5.J8n Witty, Mrs Wendy Kendall Eléctoral Roll Offieèr Mr Brian Wlkinson Glft Ald Offl¢•r Ms Hèlen Timion, vthth Mrs WeThYy Kendall
Workington St Michael Parochial Church Council Truste8¥' Annual Report {¢ontlnuedJ Year ended 31 December 2023 Trustees To setve unlll APCM 2024: Joanne 8ranlff To,serva untll APCM 2025.. Clarè Stilwell Margaret Nlchol Chris Cunliffe Ireslgned, S&ptember 20231 Wendy Kendall Elèanorwlson lo serye unll APCM 2026.. Mr Eric Martin Mr Slu¥rt Ed9er Mr8 Julia Sharpe Mr MaTk Slllwe Mr Keith Beattl8 Mrs Helen Tlnnlon Mr BrS8n Wilkinson Mrs Sheila Clark Mr Barry Clarf Cpmmltt•e# The PCC meet8 approximalety elghl tIrn83 8 y•Br to ov•rs88 the overall direcuon Of mi861on, vislon and 8tralegy, and the work of a numbef ol commlttees, whl¢h meel a$ requlred beeen full rneetingB ol the PCC. Standlng and Flnxncè Commltt•• Th15 Commlttee meet8 o¢ca8lonally as nèèd arl668 or th &mergtsncy as a subcommlttee ol the PCC. d Is comprised ol the Priest In Charge, the Lay Chalr. tha WBrdans. the Seer•tary, the Treosur•r .d any CL>oplod m•mbers. 8oclal Commlttee This comrnittee m¥kes grrangomenls for and co-ordinates Boclal activities ol the parlsh churth, to d8velop and prornots good lellow6hlp, lo fund ralse fc* the paflsh and for other Soclal causeg. stewaldshlp Commltte? The Stewardshlp cornmlttee. wlh Ihe help ol the Dloce¥¥n Bupport legm pf Soph69 Hodges ond John Thompson, who consulted wlth thè PCC In Jun6 2022. and agaln in July 2023. organi5ed a Generosity Week In Oclobef 2023. wNch wa8 well received 8nd showed 8Th811 increa¥e¥ in givlng. The plan is lo fvJld a Generosity Week on an annual baBI8. Safeguardlng Commlltsè In 2023 Mrs Jon Wtty holdo the Safaguardlng Officer role for both p¥ri¥he¥, wth the support ol Mrs Wendy Kendall. Accountants rebln80n+co Chartered Accountants Oxlord Chamber8 New Oxford Slreel Worklnglon CA14 2LR
Worklngton St Mlchael Parochial Church Council Trustees, Annual Report {¢Onllnweu) Year ended 31 December 2023 Structure. Governancg and Management The P8rochial Church Council Is a cOrPate body established by the Church of England. The PCC operates under the Parochial Church Courtcil Powers MÈasure119561 latefy amended by the Church Representation Rul95, 2020. The PCC became an Offityal Charfty registered wilh thg Charity CommSssion in 2009, Charity Nurnb8r 1131867. Recruifm8nl andAppoIntmI tsf nl8mber8 Member8 of the PCC, are either ex officio or 8lected al the Annual P8rochl81 Church Meetlng In aeeordancè wllh the Church Rèpre88ntallon Rulès. ObJoCtlv68 and actlvltle¥ The PCC'S obledlves are lo provlde worshlp and provlde lacllllles io benefll tho emilronmenl and the community al large. Public 8eneffl The Iruslees have referred lo the guSdarKe ¢C*ntalned In the Charity CommlssSon's general guldanca on public benelil when revlewng the charity's alms and oblectives and in planning fijture octivilies. to ensure $uGh act115¢6 ¢onlrlbute io Ihg alms ond oblectfves. Aehlgvem8nt• and p•rfom)anc• Church $ffend8nGe Al the 2023 APCM il wa$ reported that there 218 n8mes on the electoral rell. 66 01 those on the rott rèsido in the parl8h.,'131 ie3ide el8ewhere in Worktnglon and 21 aTe noTrre51denl. Attendance on normal Sunday8 li approxlmatety a8 follows'.- 8.'OOam at Sl John'8 4-7 9.'30am at Sl Mlchael'8 3Lk40 11 am 01 St John's 3fy40 6.'30pm at Sl Mlchael's 10.15 Common Worthlp or Book ol Common Prayer Common Worshlp Isung) with Sundgy School Ccimrnun Worship (Sungl wlh Sunday School variety of s•rvic&s, including haaling 8n¢J evtrnsong, on & monthly pattern There conllnues to be a significant follng on I1 of the I$treaMed 9..30 $•rvl¢• of worshlp. The rnldweek Eucharis1 on Tuesday at 11 am Is followed by refreshments th approx)rnalely 12-20 communitsnls. ICW, Baidl Tr¥daY (now monthly on JO Thursday) at e'.30pm 1fv12 C¢mmon Wor8hip (Said) Durkng 2023.. Baptisms in Church.. 'Funerpls In Chw¢h'. Weddings in chUrc- 16
Workington St Michael Parochial Church Council Truste8s' Annual Report {conthuedJ Year ended 31 December 2023 Achlevements and perfomiancè (Cokjvnvedl In 2Q23 splrit5 remaln high al St M6chael'8, wllh many new InlllatiVe8 fulfilling th• four goals of growthig youngw, gr¢wlng greener, growlng QUardS and growlng doser lo God The Confvrence facllltios We managed by en Offlce Adminlslralor, Mfs Lorna Wlson, who r88i9ned from effect in Augu512023. The conference []lItIeS and office continued lo be a(Iministrated very satlsfaciorlty by a learn ofvoluntstrs, headed by th• Church Warden, Mrs Wendy Kendall. The year saw agreemènt befvleen thè parl8hes of Sl Mlthael's and Sl John's to becorn• a united Benefice, whkh c8me.lnto L*lng on 1 January 2024, the re-In¥takrngnl oflhe 8nGlgnl po81 of Rector of Workington. In January 2(r24'th8 Raclor. th8 Vory R•vd Dr FraS Ward and tha 8ssocl818 priest, The Revd fff Peter Powell, announced thelr relirernenl to tsk? effeBI from September 2024. Grc>wng Closer to God.. The SundAy s¢NIcès ara a8 follo.. 8..00 am al St John. 9.30 am Al Sl Michaal'8 Parlsh Eu¢hari81 11.'00 am at St John's Parlsh Eucharist Weekly bap113rn5 al either or both churche8 $.30 pm al St Michael's Iwilh a monthly pattern ol a varlety of 8ervlce8, Includlng heallng. Choral evensong, the offerlng ol InGen89, and fallh Story sharing) The mldweek servl¢es a111'.00 om Qn Tu&sdgy ISI Ml and 11.'00 am on Wèdne6day ISI Jl are both followed by Tefreshfflents and lunch club re8p8ctively, whlch were deBlgnaled worm hub8 durlng the Go8t ol Ilvln9 crlsi$. Therels a monthly Eucharist on Thur8day evenings, lor the young@he¥rt In N¢vernb•r 2023, Ms Char]otto Lalt and Ms Rachel Rose were licen80d as R8bd•r8 al Codi8le Cathedral. Growlng Greener. The par18he8 collaborate with a'gr8en group.. chaired by Valerie Hgllard. and followlng a jolnl PCC d9y on'Golng lor Gold, 86 Ecochuid)e8 on Saturday 10 September 2022, both churches ha attalned slSver Eco awards and are working towards gold Eco gwards. Polllnal¢T projects and'greenlng the churchyards, are undarway across 84ch parf8h, and close links developed wllh local wlldlif• And ngture partnershlp8. Growing Younger.. Both churches conllnue to hold Sunday Schools •v8ry Sunday with ¢hlldren proreediny lo become server8 81 St Michae18. The Youth Group continues lo meet on Thursday evenlngs. and tha Massy Mlchaels session happens in churth on tho first Sunday in tha monih. Growing outwards in the Town.. The Rector in 2023124 wa5 th? chaplain to the Mayor. whlch consolldated atKI dev8lop•d ongolng contacts In lh• town. Th8s• things ar8 important to both PCCS: Cow)linuSng Vol and presence of th8 Church In Worklngton th the announcement of the retiremant of the Rectr)r and 8sgod8le Prle$l, both ¢hur¢hes collaborate on the proGess lowgrd¥ tho appointment of the next Rector. with a ¥troThJ sen8e of posltivity. The Parlsh Magazlne. Church Crack, 19 edlted by Mrs Sue Shaw. from September 2Q23. 'Both pari5he5 continue lo explore ways to collaborate. for oxarnple, by shar9 back offico resources and roles le.g. the S3leguarding Officer).
Workington St Michael Parochial Church Council Trustses. Annual Report l¢onUnu Year ended 31 December 2023 Achlevements and perforniance (ConWn¥g(1) Suslalning a full worshlp programme on Sundays and through the week Sharing musical expeTbse, including bell ringing Both parish9$ havp real resources Ic dèvelop In Ihls area and are committed to furth8r collatrJration Fafthful disdpleshlp.. 811 lesmlng- Study groups. confimiation, etc- is done ov8r both p8rf8hg$ The Unlled 8eneflce has the fellovrtng Governance.. Separate PCCS. meeting monthly of blrncnlhly 2 or 3joint PCC days each year lo det8Tmine strategy, mlsslon and outfe8ch, and g0v8mara. 4 meethgs B year ol a joint Slandlng Comffllttee.. Church wardens, 8ecretarles. treasurers wllh clergy and mln181er8 Four Growing Groups, to tske forward ml881on and 8tral¢gy Subcommillèè mèellngs, 8harfng pracllce and expertise. on fabric1bldIn9 mglnlenan¢&, finanBe and slewardshSp, soclal programmès, t8aehlng, cemmunlcallon and 80cial media. etc Slrèamllnad 8dmini8tratlon, wllh 8hared role¥ lo avold dupllrntlon. e.g. Safeguardlng. Mln15try and Worshlp: s•• abovè lor changè to the pattern of wor3hlp, as St Michael's and 81 John's pari8heB work more closely tog&lher. Online worshlp was mad& posslblt by Mr Mark Slllwell. The organlsl role Is shgred by Mr Mark Hazzard. Mr Alan Jackson,.Mr Mark Sllhvell and Mr Chr181opher Lamb. There were lolnl sorvi¢os held vAih both church88, through Holy Week and Easter. atAscenslon, at an knim81 Service In October, al Remembrance Sunday In November, and over Chrlstrnas. Vocatlono and tr•lnlng: o.focus conllnu88 on lay edueslion and encovraglng a sense ol vc¢allon lo Ik•ns8d18y mlnlslry, ordination and volunteerlng, partl¢ularly after Charlolle Lait 8nd Raehel Rose's ItcenBing in November 2023, who pieached increaslngly often through the y•ar. Dr$ Word and Powell continued Ihelr P•$ioral mlnlstry over boih pgrf8he8, v15ibng nBh1One18 on 8 re9ul3r b8315, Including monlhty provlslon of horng communlon for those In need, and conducting funer&13 a8 requlred In church and al the cremalortum or grAV8sid•. Bulldlng and Molnl•nance', The PCC conllnues to be grateful lo Eric M8rtin, in particular, for hi¥ ccmmilmenl lo ensure our facllitses contlnues lo be well rnainl8Sned Igr use by th• ¢ongregallon'and organl99Uons IhrouglTh)ul our cornmunlty. Throughout 2023 the Soclal commltte&, chaSr8d by Mrs Clare Slifwell., conunued lo meet In person or on Zoom lo plan a cglen(lar of evont¥ and the Young Ladles Group and Youih Group continued tc provide some events. The Sunday Sehool undar fha108dership of Mrs Wendy Kend811. conllnug9 In good heart, forwhich the PCC was grateful. The Tot5 Group and Youth Group eonlinues lo thrive and grow, wilh the tot$ group full and with a wattlng list, and the youth group Increaslng from 3 to 12 slnce Covld lockdowns. Th8nk81o Mrs Joan ColllnB and Mrs Lorna Wlson Bnd their teams for their continued commrtmenl, time and 8fforL
Workington St Michael Parochial Church Council Trustee$. Annual Report {contlnu•dJ Year ended 31 December 2023 Fonanelal rèvlèw At 310ecernber 2023 the PCC held £304.27512022- £296,837) in unrestricted funds, £50, 191 12022 £64,5031 In iestricled funds and £152.01012022 - £145.8101 in endowment ftjnds. The PCC remains in a strong position. Parish Offer In July the Parish Offèr for 2024 was pledged at £39.520. The Resarves Policy. The PCC agreed lo hol¢J 2 years ol unrestricted furids". £225.000- including designatory reserves.. General reserve £150,000 Building reserve £50.000 (which could be covgred by tre Fabric fund) Community reserve £25,000 incipal fiinding sources Aside from the income generated by the church hall lettings. the prinapal funding 1$ voluntary Income through planned giving, service collections and general donations. Risk Managemenl During 2023. the members have continued lo be mindful ol the rnaior strategic, business and operational risks which the PGC faces and confirm that systems have been established to ènable regular reports to be produee¢J so that the necessary step5 can be taken lo lessen these risks. The trustees annual report was appr¢ved at the APCM on Sunday 12 May 2024 and signed on behalf of the board of trustees by.. The Very Revd Dr Frances War¢J Rector of Workington. chair ol the PCC.
Worklngton St Mlchael Parochlal Church Councll Independent Examiner's Report to the Trustees of Workington St Michael Parochial Church Council Year ended 31 Decembèr 2023 l ieport lo the trusle8s on my examlnation ol the financial statements of Workington St Mid)ael Parochial Church Council I'the charity'l for the year ended 31 December 2023. Respon$lbllltle$ and ba$ls.of report As the Iwslee8 01 the charity you Are responslble for the prèparatlon ol thè financlal 8ts1emenls tn accordance wfth the requlrements of the Charities Act 20111'lhe ACY). I report In respecl of my exam[rtIOn of the chadvs financlal slalernents carrled ¢yJt under sedon 145 of.the 2011 Acl and In cgrrybng Crt my ex8mSn8llon I hAv• followed 811 thè applleabl• DlrÉetlon8 glven by the Charlly Commlsslon under sedlon 145lSllbl of the Act. Independent •xamln•f8 statement I hav• compl•led my •xarnln?Ilon. I contlrm that no moterlal moliers ha come lo my attentson in ¢onn8Ction wlth the axamin81ion glvlng me cause to believe that In any materfal respect. accounllng records were not kopl In r8speGi of Ihg charty as requlred by secllon 130 01 the Act., or the flnanclal 8lalement8 do not accord wilh those records., or Ihe financjal statements do not cornpty wllh the 8ppIIc8blè reqtjlremeftts concémlng th& fom 8nd conlenl ol ¥ccounls 881 out in thè ChBritiés (Accounts and Reports) Regulations 2008 other than any requlremenl that Ihg account8 glvo a 'lrue and lav vlew whlth is nol a matt•r consld8r•d as part of an ind8pènd•nl •xamSn8tlon. I havè no ccn¢ern8 have come acroBs no other matters In conn8cllon wllh th8 examlnalion lo ich allenllon 8hould be drawn In th58 report In order lo enable a prepèr under8tandlng of the accounts to be reached. Darren Mew3e FCA Independenl Examlner roblnson+co Chgrtered Accountants Oxford Chambers, New Oxford Street Workinglon CA14 2LR 12 May 2024
Worklngton St Mlchael Parochial Church Council statement of Financial Actlv5tles Year ended 31 December 2023 2D23 Unrestricted Reslrfcled Endowment fijnds fijnds funds Totsl fund8 Tol81 fjJnds 222 Noto Income and endowments Donallons and legaues Charitable a¢tivitl•s Other trading activitses Investment 40,364 8,815 41,338 12,794 103,311 40,364 8.815 41,33e 16,543 107,060 51,174 13.587 35,601 e,818 107.180 3.749 3.749 Totsl Income Expendllure Expenditure on Ghariloble acllvllleg 100.172 13,762 113,934 113.934 107,860 107.860 Total expendlturo 100.172 13,762 Net 9ainsllloss¢81 on. Inve3lment8 10 6,200 6.2fy) 18,793) N•t In¢omdl•xpendlturel 3.139 110.0131 8,200 18741 19,4731 Trgn81er$ been lund5 4.299 14.299) Net movement In fundg 7,438 (14.3121 6,200 18741 19,4731 R•conclllallon of lund¥ Total fiJnds brought fowrd Totsl lund9 ¢grrlod forward 296.837 304,275 64,¥J3 50,191 145.810 152,Q10 507,150 SO6,476 516,e23 507,150 The Statement of fln8ncl4 a¢lfvllles Includes 811 galns 4nd105968 reco9nlged In tho yeaT. All Income and oxpendSture derive from conlinulng 8th•3. The not on page8 10 to 23,lonn part ot the58 flnanclal statsrnents.
Workington St Michael Parochial Church Council Statement of FinancSal Positlon 31 December 2023 2023 2022 Not8 Flx•d a88•ts Tangible fixed 8$sets Fixed asset Investments 14 15 35,913 72,10S 37,795 65,905 108,018 103,7(K) Current a•sel• Debtors Short terrn deposits Cash 91 bank and in hand 16 17 22,156 353,460 30,507 19,527 359,959 28,178 406, 123 407,664 Cr•dltor•: amount• lalllng due wl¢hln ong y••r N•t curr•nt a8$•t• 18 17.6651 398,458 506,478 14.2141 403,450 507,150 Total a88et• l•• current114bllltle• Net 118•Ot$ 506.476 507.150 Fund$ Of thè ¢harlty Endowment funds.. Perrnanenl endowm¥nl lund$ Expondable endowment lunds Reslricled funds Unrestricle¢J funds 144,624 7,3e6 50,191 304,275 138,424 7,386 64,503 296.837 Total charliy lund8 20 506.476 507.150 These financia1 statements were approved by the btsard ol Irusle$ and aylhorised for i$$ue on 12 May 2024. and are Signed on behalf ¢1 the board by.. Th• V•ry R•vd Dr Fr•n¢•• Ward Chalr The nota on pay•• 10 to 23 fomi part of these ff nanGlal •t•i•m•n¢o.
Workington St Mlchael Parochial Church Councll Notes to the Flnanclal Statements Year ended 31 D8cember 2023 G?neral Informatlon The charity l¥ a publ1¢ benefit onuty and a reglslered charlly In England and Wales and 15 unincorporated. The address of the principal office Is Worklngton Pargchlal Church Councll, Parlsh Office, Sl Mlchagl's Church, Falcon Place, worki10 CA14 2EZ. Statement of compllance These ffnanclal statemènls hav• en prepared In compllance with FRS 102, 'The FSn8n¢l?I Reporting Standard applicable In the UK and the Republ1¢ of Ireland,, the Slalement of Recommènded PfactlcÉ appllcablè lo ch8ritles preparing Ihelr accounts in accordan¢e wllh the Financial Reporting Standard appllcable In tho UK and Republ1¢ of,Ir•land IFRS 1021 (Charilles SQRP IFRS 10211 and t Chorilies Act 2011. The financlal slalements have been produced to glve a 'lrue and falrf view and hav8 d8parted trom the Charities (Accounts and Reports) Regulatlons 2008'.oFnly lo the extent requlred to provlde a'tfue and lalr vl8W. Thi$ departure has Involved followng Accounting and Reporting by Charities preparlng Ihelr acGounts In accordance with the Flnanclal Reporting Standard appllcable in the UK and Republic ol Ireland IFRS 102)188U8d on 16 July 2014 rather than lh9 Accounbn9 gnd Reportln9 by Ch&rllies.' Statement ol Recommended Practice effe¢tlve frw 1 AprS120tIS whKh has since b8en withdrawn. A¢¢ountlno poll¢lt$ B&$l$ of pr•pAratlon Thè flnatKlal statements have been prepar8d on thè Nslorical c031 basis, a3 modlfled by the revaluatlon of cortaln financlal 8880ts 8nd11?bllllle8 and Inve&tmenl propèrtle$ meosured al lalr value through Income or expencliture. The financS81 slalements are prepor•d In sterllng, whlch 58 the functlonal cwr•ncy ol Ihg enllty. Golng concèrn. Thor¢ or• no materfal uncertalnlies alJout the charlty'3 ablltr lo oontlnue. Dl$closure •xemptlon8 Tho charlty has taken advantage of th& 8x•mptlon In FRS 102 Update 6ulleUn 1 from Ihe roquiremenl lo produce ¥ cashflpw tstatornent becaiTre11 Is a small chwity- Judggmgnt3 and key sources of esllrn4tlon un¢ertalnty The preparation of the financlal slalernent8 requlres management to make judgements, esllm8tes and a8sumplion3 that affect the amounts reported. These e8limalgs and judgements arB continually reviewed and are based on experience and other factors. including expectations of futwa events that are belloved lo be rgasonable underlhe clrcumst8nce& 10
Workington St Michael Parochial Church Council Notes to the Flnanclal Statements fcontlnuedj Year ended 31 December 2023 A¢couiiting polldes {eomUnuédJ Judgements and key wurees of estlmatlon uncertalnty (¢onNnuooJ Slgnrficantjudgements The judgements 18part from those involving estimations} that the members have made In Ihg prOs$ of applying the entiws accountlng polloes and that have the most significant efiect on the amounts rècognls8d in the ffnancial stslements are as follow3.. Investment valuations Investmenls held by Ihe Pcc'are liste¢J and fherefore are independently valued 81 m8rkel valuè. Impairment ol tangible fixed assets The PCC is required to review fixed assels for impairmenL The members make judgments aboul the condibon ol assets and review Iheir esfjmated lives. Key sources of estimation uncertainty Acc(xJnling eslimales and assumptions are made conceming'thè ftJtU and, by their nalui¢, wll rarely 8qual the related actual outcome. The key a55UtnpliDns and ¢)ther sources of eslimalion UnrtaInty that haye 8 5ignlficanl rlsk of causing a material adjustment to the carrylng amounts of assets and liabilii¢es wthin Ihe next financial year ale as IgllDws'. The useful aconomic life of each category of fLxed asset is assessed when aGquired by the FCC. A degree of estimation is occasionalty used In assessing the useful eGonornic life of assets. Fund accountlng Unre51rictEd lunds are available for use at the disc¥etion of the. trugtees to rther any of the charity's purposes. Re51rrcled funds are subl8cted to r8sirictions on their expenditure declared by the donor through the terms of an appeal. and lall into on8 of two 3ul>Blasge8'. restricted Income funds or èndowment funds Incomlng resoureès All Income is Included in the stalement ot rinandal ath"viU88 vA)en entitlém•nt has passed to the charity. it is probable that the economic benefits assoc4ated with the transacli¢M will flow lo the charity and the amount can be felièbly measured. Thè following specific policigs ar& applied to particular c8tegorie$ ol in¢ome'. income from donations or grants is recogni5ed whBn there is evidenc¢ of entitlement to the gi receipt is FKobable and its amount can be measured Teliably. lagacy income Is recognlsed when receipt 15 PrJable a)d entitlement Is established. income from donalpd is me4sured al the fair value of Ihe goods unless thls Is Impractical to measure reliably. in which ease the value is dorived from the cost to the donor or tre eslimaled re5a19 value. Donated facilities and 5etvices are rè(x)gnised In the accounts when receiv&J if the value can,bè rèliabty mtsasured. No amounts are incIed for the contribution of general volunle&rs.
Workington St Michael Parochial Church Councll Notos to the Flnanclal 8tstementS (¢onUnue Year ended 31 December 2023 Ac¢ountlng poll¢les iconllnueflj Incomlng resources (¢Qftllnts8dl income from cA)nlra¢ts for the supply ol seNl¢e8 18 reised vAth dellvery of tho conlr8¢led service. This 18 claGsSfied os unfeslrlGled funds unless there is a contractU81 reqLtiremenl Iw11 to be spent on 8 particular purpose and returned If unspent, In whkh e 51 m8y be regarded as restrided. income frcln Inveslmenls18 included In the year in which it 1$ 1Vabl8. rè81ised cr losses are Tecognl$ed when Investments are 601d. unrea113ed galn3 or Ios8e8 are aOUnted lor on ravalualS¢)n of Investm8nts At 31 December. R080urce• èxpèndèd Expènditurè l¥ rgcognlsed on an awruals. ba818 as a Il•LII6ty18 Incurred. Expanditur• Includes 8ny VAT whlch cannot be hlly r•coveretJ, and 18 cla6Jlfied under he¥dlngs of the 8tatement of rinAncl818cllvi1188 lo whlch 51 relale$'. •¥p8ndllure on ral8lng fund8 Inchjdes tho cosis ol 811 fundralslng aGlhllle$, events, nwharflable Iradlng aclvlti•S. 8nd Ihg ¥alo ol donalad go¢dg. axpendilure on charitablè aelwitleB Indudes all co81$ InGurreYJ by 8 charity in undertgklng act111•$ that further Its charitable alm$ lor tho benefit of 513 beneflciarles, Includlng those support costs and'co818 relating to th• gov•rn8nce ollha charfty apportloned lo ¢har51able activities. other expendllure Includes all expendllufe Ihal 18 noilher related lo ralslng lunds lor the charlty ncr part ol Its exp8nd5ture on charitable activltles. All costs are allocated lo expenditure categorles r8fl•dlng the use of the resource. Direct co818 attrfbutable lo a singl8 8Ctlvlty are allocated th'recuy lo that a¢llvity. Shared costs ara apportiongd ba0n the acllvllies Ih¢y ¢ontrlbule lo on a re860nable, lustlfiable and conslstenl basls. The disan 9[ cr parbsh share Is accounted lor when payable. Any quota vnpaid al 31 December 16 not provlded lor In Ihgse accounts as It Is an operational Ilhough not a legall Ilabilty. T•nglble aMets Tangible a58ets are In111Y racorded al cost, and subsequentty slated al cost lèss any accumul8t8d depreciation and Impairrnenl losses. Any tangible assets carrigd al revUed amcunls are recordad al the fair valu8 at the date Ctf revaluallon less any subsequent accumul818d depreciation and s$equent accumulated Smpairrnent losses. Con3ecraled and beneficed propety Is excltsded from th8 Count$ by 8.1012lla) ol Ihg Charllles Ac12011. No value Is plad on movablè church furnishings held by the churchwardens on 5pecl81 trust for the PCC and vthich require a faculty lor disposal slncè the PCC conslders Ihls to ba in*ienable property. All expendllLKe incurred durlng the year on consecrated or benefice buildings and movable church fumlshlng5, vthelher maIntenaTr or Improv•mènt, is written off as expendllure In the SOFA and separately dSsGlosed. 12
Workington St Michael Parochial Church Councll Notes to the Financlal Statements Year ended 31 December 2023 Accounllng polEcles Icontlnuédj Deproclatlon IndivKlual Item5 01 equlpmenl wllh a PUTd)a8e price of £1,000 or less are YThitlen off when the asset is acquired. Freehold property Flxture8 and Ilttlngs 2% slrabghl line 25Yo straight Iln& Inve$tmont¥ Investrnent8 held as fixed assets are revalued at mid-markel v8lu• at In8 b818nce sheet dale and th8 galn or loss taken lo ihe statement of fjnandal activile3. Currenl Asset InveBtmen13 are al the lower of cost and net reallsable value. Impalrmgnt of flxed aB8et8 A raviaw for 1nd5c813 ol Imp8iment is carded out at each reportlng dale, th Ihe rècoverable amount belng estlmaled where such Indicators èxlsl. Vvhere tre carrying value exceeds lh& recovèr8ble 8mounl. the a38et16 Impalred accordlngly. Prtor Impalrments are 8180 revlew8d for P08slbJe reversal al each r•pothg date. For th? purposes ¢f Imp8lrment le5bng. wh•n It 18 nol po$8lbl& lo •sllmatè Ihè receverable arnount ol an Indlvidual asset, erf) esllmale IB made of lh• recoverab amount d the caseneratIng vnil lo which Ihe a8soI belong¥. The h.generatIn9 vnll is the smallest Identifiable group of a$sg15 Ih?I Indudes the asset and gÉnar8les cash inffow6 th81 largely IndoFondenl olthe Cash Inflows from olh9r 8869t8 or groups Dfassets. For Impalrment 16stlng ol goodwlll, the goodwlll aoxjulred In a business combinallon Is, frem th• OfqUl8ilion date. all0(ed lo eath of th• c8sh-9eneratyng unlts that are expected 1¢ benefit from Iho synvjrgles of the combin8ilon, ki•spectlvg ol whether other as8et8 or Ilabllllies of thè chaftty are a68igned lo those unli8. Flnanclal Instrument8 Baylc finanrjal instrurnents ar¢ recognlsed al amcitlsed cost, except for flxed 8ss81 Investments whlch are measured al falr va5ue. Defined Conirtbutlon plans Conlrlbutlons to d•fined eonlribLrtion plans are recognised as an expen3e In the perlod In the related Servi is provlded. Prepald contrfbutlons are recognlsed as an asset to Ihe extent Ihat the prapayment wll lead lo a reduction in ILrtur8 payments or a co¥h refund. When contributions are not expected to bG settled wholly wthin 12 months ol Ihe end of th& repgrting date in VAch the employees render ihe related sethc•. the liability Is messured a discounted present value basis. Tho uwMnEling of the discount Is reco9nlsed as an expensa In the period whl¢h11 arfses. 13
Workington St Michael Parochial Church Council Notes to the Flnanclal Statements Iwthuedj Year ended 31 December 2023 DOnaOn$ and legacl¢s Unrestricted Total Fund8 Unrestrkted Total Fund¥ Fund8 2023 Fund8 2022 Oonatlon Colledons at all service8 Planned glvlng T8xtrs recovèrBble Sundry donatlons 6,828 28,407 6,62e 28,407 8,854 23,685 4.000 8,987 23,885 4,000 8.987 5.2D1 5.201 Legaclos Legacies S.8 5.648 Grants Grants reGeivable 2,130 40,384 2.130 61,174 S1,174 Charltabl• actlvlll Unr88lrfct8d Total Fund$ Unrestrfcled Total Funds Funds 2023 Fundy 2022 Fees Magazine donallons and advertl$lng 8.185 830 8,185 830 12,919 12,919 8,816 8,815 13.587 13.587 Other tradlnB a¢Uvltl•8 unres1rtfjd Tot41 Fund¥ Unreslrlcled Total Funds Funds 2023 Funds 2022 Shop income Church h911 lelbng8 C8t8ring and relre5hmenls Sncome Feles, bazoar5 arKI uther lund T?151ng Sundry incorng 1,e02 28,510 1.802 2e,510 263 26,457 895 6,669 317 2e3 25,457 895 8,669 317 9.865 9.665 41,338 41,338 35.601 35,801 14
Workington St Michael Parochial Church Councll Notes to the Financial Statements (¢¢nUnu¢dJ Year ended 31 December 2023 InveBtment Income Unreslrlcted Funds Restricted Total Funds Funds 2023 Dfvldend Income Bank Interest recelvable 1,971 10,823 1,971 14,572 3,749 12,794 3.749 1e,543 Unre81rfcted Funds RestrKled Total Fund5 Funds 2022 Divldend Income Bank Inleresl recelvable 1.9SO 3,766 5,72S 1,960 4.858 6.818 1,092 1,092 15
Workington St Michael Parochial Church Council Notes to thp Flnancial Statements (¢onUnue Year ended 31 December 2023 xpendlture on charitablè actlvltles by fund typ• Unrestricted Funds Restricted Total Funds Fd3 2023 Catarin9 suppliès Wages and salarie5 Organisfs expenses MSnlstry- parish offer Ministry- clergy expenses InsuraTr¢e Church running'expenses chch repalrs rnainlen8nce ChLwth hall running costs Diocese lees Sundry expenses Depreciation of tangible ftxed a88ets Missionary and charitable giving Acrxjuntancy charges Legal and professional fees Bank intere51 Telephone aThJ intemet ch8rg8S Prknlin9 and slalionery 270 12,969 225 38,000 414 7,6 12,733 2,799 1.924 3,090 7,769 2,386 100 2.355 1,194 270 12.9 225 38,0 414 7,858 12,733 16.561 1,924 3.090 7,769 2.386 100 2.355 1.194 13,762 1,523 4.563 1.523 4,563 100.172 13,7&2 113.'934 Unrestricted Funds Restricted T¢)tsl Funds Funds Catering supplies Wag8s and s818ries Org3nisl's expenses Ministry- parish offér Ministy- clergy expense5 Insuranc8 Church running expenses Church repair$ and maintenan Church hall running costs Dlocese lees Sundry expensès Depreciation of tanglble fixed asset$ Mlssionary and charTtable giving Accountancy charges Legal and prolè8slonal fees Bank interest Te1ephC8 and Intem charge5 Printing and stationery 404 18.755 1,3e3 36.000 1,860 7.188 18.75S 1,363 36.000 1.860 7.188 5,169 9.762 4.568 4.970 5.469 3,691 434 2,210 1,002 9,762 4.588 4,970 5.469 2.871 434 2,210 1,002 1,618 3,356 1.618 1356 107,040 820 107.860 16
Workington St Michael Parochial Church Council Notes to the Flnancial Statements l¢¢)nOnvedJ Year ended 31 December 2023 ExpendSture on charllablg aetlvllies by actlvlty type Activities dertaken Total funds dlrecl 2023 Total fuwKI 2022 Church a¢tivilles 113,934 113,934 107.8 10. Nat galnslllossesl on Investment8 Endowment Totsl FurHls Endowment Totsl Funds Funds 2023 FuThJs 2022 Gainslllossesl on listed investments 200 6,200 18,793) {8.793) 11. Net expendlturfr Net expenditure is stated after chargirwl1ed1IIng)'. 2023 2022 Depreuation of tangible fixed assets 2,28e 3.890 17
Workington St Michael Parochial Church Council Notes to the Flnanclal Statements (¢onVnuodJ Year ended 31 December 2023 12. Independent examlnatlon fe08 2023 2022 F8•s payabl8 to the Ind•pend8nt examiner for.. Independent gxamlnalion ol the financial slalement8 1355 2,210 13. Truste& remuneration and •xpen8es Dwing the current and previous year no trustee received remuneration frorn Ihe PCC. 14. Tan9lbl•.flx•d as$ot8 Freehold Flxtures and property fitbngg Total Cost Al 1 January 2023 Additlons 75,000 24.413 SC 99,413 504 At 31 Oecember 2023 24.917 99.917 Depreclatlon Al 1 January 2023 Charge lor th& yoar At 31 Doe•mbgr 2023 39,QOO 1.500 22,618 81,618 2,386 40,500 23,504 Carrylng #mount At 31 December 2023 34,500 36,OCQ 1,413 1,795 35,913 37,795 At 31 OeGarnbeT 2022 15. Flx•d •08•t InVlmOnt8 Llsted Inv98tments Valuatlon. At 1 January 2023 Addltlons Falr valua movements 65,905 6.200 72,105 At 31 Decembor 2D23 Carrylng amount At 31 Decgmber 2023 72.105 85.90S Al 31 Decefflber 2022 Al Invesknents shovm above are held gt valuatlon. 18
Workington St Michael Parochlal Church Council Notes to the Financial Statements Year ended 31 Dacember 2023 15. Flxod a$$et 5nve8tmentS IconthuEdJ FlnancSal a¥sets held at lalr value The historlcal cost of fixed assèt" Snv•stm8nts At 31 December 2023 was £36,500 12022.. £36.500). All fjxed aBset Investments are held wlthln the Llnlled Klngdorn. The above investments conslsled of 3,189.76 nme shares in the CBF Church of England Investrnenl Fund. The share. voluollon at 31 December 2023 w88 22eo.53p per 8h>re12022 - 2066.14pl. 16. OebtorB 2023 2022 Trad& debtor8 Prepayrnents and accrutd IKom• Other dgbtor8 1,421 3,652 17,183 22,156 1,864 480 17,183 19,627 17. 8hort tomi d•poslts 2023 2022 Short-lerm deposits brought I04rd Short-lerm deposits addillon8 8hort-t•rrn d8poslls disposals 359,959 13.501 20,0001 353.460 367.967 12.460 120,4681 359,959 Short-lerm dep¢$lts comprl$e short-lerrn depo$lts in the CBF ChLwch of Enland Depo911 Fund or al the bank. 18. Crodltors.. Jmount8 falllng due 7ththln one y•ar 2023 2tr22 Trade ciedStors Accrvels and defgrred income Soclal security and other taxeB Other creditors 4.839 2.828 207 3.252 471 7,665 4,214 19. Penslons and other poBtvretlTgmont benefits Defined ¢ontrtbullon plan¥ Thg arno)1 re¢L)grSe In Income or expenditure as an axp8nso In relatEon to deflned contribution plans was £27612022.. £36fjI. 19
Workington St Michael Parochial Church Council Notes to the F5nanclal Staternents (¢M¥nu Year ended 31 December 2023 20. Analysls of charltablè funds Unrestrlcted funds At31 Gains and December Ipssgs 2023 January 2W23 Income Expgndilur Tr4nsfvrs GBngral funds A Hogarth knd G E Jones fund Deslgnaled mission fund 267,295 1.000 28,542 102,397 11CQ,1721 572 11,0001 I29,6) 270.092 914 34.183 34,183 296.837 103,311 11Q),172) 4,299 304.275 A131 Gains and December lossès January 2022 IncttmÈ Expenditure Transfèrs Gener31 funds A Hogmrth fvnd G E Jones fijnd Dèsignatèd rniron fund 268,618 1.000 28.171 105,717 1107,040) 267,295 1.000 28.542 371 297.789 108.Ct88 1107.0401 296.837 General funds represent Ihe funds of the PCC thal are not subject to any restrictions regarding their use and are available foT application on the general purpose5 of the PGC. FundB destgnated for 8 parbcular purpos& by th8 PCC are also unrestrided. Thè PCC ogre8d in Novembèr 2023 to eonsolidat• its r&s8rvas and funds vthlch has MSLlt•d In various Iransfers in the year as summarised below. Transferred into General unrestricted fuThJs frorn restricted funds was £572 which cmlSed ot 80me small historic restricted fu balance5 NS Bowe8 £55, TW Jacks¢m £468 arKI Youth grouplp8rish ouungs £491. Th8 A Hc4arth Fund of £1.0 and G E Jones Fund of £29.456 were Iransferred Into tha desi9naled mlssion nd. along with £3.727 transferred from,'Sce11ane0uS. restricted funds. 20
Workington St Michael Parochial Church Council Notes to the Flnanclal Statements (conttnuodj Year ended 31 December 2023 20. Analysls of ¢harliabl* funds f¢¢n¥nupol) R95trl¢tgd fund¥ At31 Galns and De¢vmbgr losses 2023 January Income Expenditure Transfws Mls¢ellaneous Restricted Fd8 Fgbrjc fund 33.622 30.881 64.503 1,065 2.fj84 3.749 134,6871 30,388 14.2991 113.7W21 {13.7&21 $0,191 50.191 A131 GBin$ and DÉ¢èmber losses. 222 January 2022 Incorne Expendilwe Transfers MIslIan•DuS Restrlcled Funds Fabric fund 33,398 30,833 64.231 424 668 (200) 1620) 18201 33,622 30,881 64.503 1,092 Rostricted ILmds are those tsnd$ whlch must be spent C restricted purposes in accordan with the donors. wshe The faL4lc fvnd represents monles ralsed for the maryrtenance upkeep of the Chwch building. The PCC agreed in November 2tr23 to consolidaie 118 re8eNes and fund8 wch has sU[ted in variou5 Iransfgrs In the year as summarlsed below. Miscellaneous reslrictgd fvnds largely rnade up uf dlfferent donations re1ve{l in th¢ past for the maintenance ol the Church building such as Ihe John Clark Sleè mÈinten8neè lund1£11,0901 G E Jones1£2.0611 rw (£4.2301, Cowan {£8.0511 and Murphy1£4,'6691 as well as a Small balance held in a CBF Church Hall account. These have all been transfeed inlo Ihe Fabric Fund. The remaining £4,299 pr?viously held in Thi¢11¥19us re5tsickd funds been, Iransfeffed Into unrestricted funds as thsdosed above. Z1
Workington St Michael Parochial Church Councll Notes to the Flnanclal Ststements l¢onttnuo0 Year ended 31 Deeember 2023 20. Anatysls of ¢haritsble funds l¢onUntyed) Endowment funds At31 Gain5 and De¢&mber losses 2023 January 2023 Income Expenditure Transfers E15ie Shaw Bequest MA & N Hogarth Mlss V S Boweg Revd. T W J8cksun 75.132 63,292 447 3,398 2,802 76.530 e6.094 447 6.939 14SO10 6.939 152.010 6,200 A11 January 2022 At31 Gains and D0mber 1058es 2022 Income ExpeNliture Transfers Elsie Shaw Bequest MA & N Hogarth ss V S Bowes Revd. T W Jackson 14,8181 13,975) 75,132 63.292 447 67,267 447 6,939 154.$03 6,939 145,810 8.7931 The Elsle Shaw bequest and the MA & N Hogarth permanent Ild are pemianenl endovm)ents bul the incom¢ Can bo used lor general church purposes Bnd Is Iherefoie unrestricle(L The V S Bow&s fund Is restr*ted to U38 for the parfsh h811. The T W Jackson fund Is roslri¢ted to Use ftr Ihe church fabr 22
Worklngton St Mlchael Parochlal Church Council Notes to the Flnanclal Statements f¢on*nued) Year ended 31 December 2023 21. Analy918 of ngt •$8?tB b8tr4e?n lund8 Unre$lrlGted R&stricted Endowment Tolal Funds Funds Funds Fund¥ 2023 ranglblè Ir%ed assets Investments Currant assets 'Credilors less than 1 year Net assets 35.913 35,913 72,105 406,123 17,665 5Cé,476 72,105 79,90S 276.027 17,6661 304,276 50,191 50,191 Vnreslrfcted Restricted EndovKnenl Total Funds Funds Funds Fynds 2022 Tanglble fixed a68et6 Investrnenls Currenl assets Creditors le58 than 1 year Not as80ts 37,795 37.795 85,905 407.664 14.2141 507,150 S,9)5 79.gJ5 263,266 {4,214) 296.837 e4,503 64,503 145,810 22. Rolotèd part1•• PCC r1Ved donat10 In th8 ye•r from trustees 01£9,38012022- £8,620). 23