# **PARISH OF LOWER WHARFE**
# **INCORPORATING THE CHURCHES OF**
St Mary the Virgin; Boston Spa All Saints’; Bramham St Peters’; Walton
## **ANNUAL REPORT AND FINANCIAL STATEMENTS OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31[ST] DECEMBER 2022**
## **VICAR**
Rev Nick Morgan
## **BANK**
HSBC Plc. 11 North Street Wetherby LS22 6NT
## **INDEPENDENT EXAMINER**
Mortimer & Co. Chartered Accountants
1 Ashfield Paddock High Street Boston Spa Wetherby LS23 6UW
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## **PAROCHIAL CHURCH COUNCIL OF LOWER WHARFE**
## **NEW AINSTRY DEANERY: DIOCESE OF YORK**
## **TREASURER’S REPORT**
The Parish of Lower Wharfe incorporates the former Parishes of St. Mary The Virgin, Boston Spa, All Saints, Bramham and St. Peter’s, Walton. These accounts represent an amalgamation of the transactions of the three individual Churches for the year ended 31[st] December 2022
A bank account in the name of the Parish of Lower Wharfe is operated with HSBC Bank in Wetherby. Each Church continues to deal with its own finances through its own bank accounts and to be responsible for the payment of its own expenses including those due to the Diocese of York and the New Ainsty Deanery, under powers delegated to each Village Church Council (VCC) by the PCC of Lower Wharfe.
The financial statements of each Church have been approved by their respective VCCs at their Annual Meetings and what is shown on the following pages is a consolidation of those results.
TREASURER MAY 2023
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## **PAROCHIAL CHURCH COUNCIL OF LOWER WHARFE**
## **NEW AINSTY DEANERY: DIOCESE OF YORK**
## **Independent Examiners Report to the PCC of Lower Wharfe, Boston Spa**
I report on the accounts of the church for the year ended 31 December 2022, which are set out on pages 4-14.
## **Respective responsibilities of Trustees and Examiner**
The church’s trustees are responsible for the preparation of the accounts. The church trustees consider that an audit is not required for this year under Section 144(2) of the charities Act 2011 (the 2011Act) and that an independent examination is needed.
It is my responsibility to:
- Examine the accounts under section 145 of the 2011 Act;
- To follow the procedures laid down in the General Directions by the Charity Commissioners (under section 145(5) (b) of the 2011 Act); and
- To state whether particular matters have come to my attention.
## **Basis of Independent Examiner’s Report**
My examination was carried out in accordance with the General Directions given by the Charity commissions. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts 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 no opinion is given on whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent Examiners Statement**
Since the gross income for the year exceeds the amount provided in section 145(3) of the Act, I confirm that I am qualified to act as Independent Examiner under the provisions of that section of the act and my qualification is as shown below.
In connection with my examination, no matter has come to my attention:
- 1) Which gives me reasonable cause to believe that in any material respect the requirements. to keep accounting records in accordance with section 130 of the 2011 Act; and to prepare accounts which accord with the accounting records and comply with the requirements of the 2011 Act have not been met; or
- 2) To which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached
………………………………………….
Mortimer & Co Chartered accountants
- 1 Ashfield Paddock, High Street, Boston Spa, LS23 6UW
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## **PAROCHIAL CHURCH COUNCIL OF LOWER WHARFE**
## **NEW AINSTY DEANERY: DIOCESE OF YORK**
## **STATEMENT OF FINANCIAL ACTIVITIES**
For the Year Ended 31 December 2022
**----- Start of picture text -----**
Unrestricted Restricted Endowment Total Total
funds Funds Funds 2022 2021
Notes £ £ £ £ £
INCOME AND
ENDOWMENTS
Voluntary Income 2(a) 121743 3189 124932 109502
Activities for generating
25915 1030 26945 12639
Funds 2(a)
Income from investments 2(c) 1121 12 1421 2554 2306
Church Activities 2(d) 26301 26301 13978
TOTAL INCOME 175080 4231 1421 180732 138425
EXPENDITURE
Church Activities 3 (a) 150605 5033 155638 133894
Raising Funds 3 (b) 4613 4613 951
TOTAL EXPENDITURE 155218 5033 160251 134845
NET INCOME /
(EXPENDITURE) BEFORE 19862 (802) 1421 20481 3580
INVESTMENT GAINS
NET GAINS/(LOSS) ON
(2100) (2890) (4990) 5574
INVESTMENTS
NET INCOME /
17762 (802) (1469) 15491 9154
(EXPENDITURE)
TRANSFER BETWEEN FUNDS
NET MOVEMENT IN FUNDS 17762 (802) (1469) 15491 9154
Total funds brought forward 73678 35315 71886 180879 171725
Total Funds carried forward 91440 34513 70417 196370 180879
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## **PAROCHIAL CHURCH COUNCIL OF LOWER WHARFE**
## **BALANCE SHEET**
As at 31[st] DECEMBER 2022
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Notes 2022 2021
£ £
FIXED ASSETS
Tangible 5 1 1
Investments -
Total 1 1
CURRENT ASSETS
Investments 6 (a) 75428 80418
Debtors and prepayments 6 (b) 19049 17630
Short term deposits 81943 71174
Cash at Bank 32911 29840
Total 209331 199062
LIABILITIES
Creditors amounts falling due within one
12962 18184
year 7
NET CURRENT ASSETS / LIABILITIES 196369 180878
TOTAL ASSETS LESS CURRENT LIABILITIES 196370 180879
Creditors amounts falling due after one year
TOTAL NET ASSETS 196370 180879
PARISH FUNDS 9&10
Unrestricted 91440 73678
Restricted 34513 35315
Endowment 70417 71886
Total 196370 180879
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## **PAROCHIAL CHURCH COUNCIL OF LOWER WHARFE**
## **NEW AINSTY DEANERY SYNOD: DIOCESE OF YORK**
Notes to the Financial Statements for the year ended 31 December 2022
## **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 in accordance with the format of the model statements (accruals basis) set out in the church Accounting Regulations 2006 governing the individual accounts of PCCs, and with the regulations ‘true and fair’ provisions. It is also the first year that they have been prepared under FRS102 (2016) as the applicable accounting standards and the 2016 version of the Statement of Recommended Practice, Accounting and Reporting Charities (SORP (FRS102)).
## **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 10 (2) (a) and (c) of the charities act 2011 such assets are not capitalised in the financial statements.
## **Moveable church furnishings**
These are capitalised at cost and depreciated over their useful economic life other than where sufficient 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 the charity**
These are capitalised if they can be used for more than one year, and cost at least £1,500. 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 anticipated residual fair value over their estimated useful lives as follows:
- Fixtures and fittings 20 years
- Computers 3 years
## **Investments**
Investments quoted on a recognised stock exchange or whose value derives from them are valued at market value at the year end.
## **Short term deposits**
These are the cash held on deposit with the building or the bank.
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## **PAROCHIAL CHURCH COUNCIL OF LOWER WHARFE**
## **NOTES (Continued)**
## **2. INCOME AND ENDOWMENTS**
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Unrestricted Restricted Endowment Total Total
funds Funds Funds 2022 2021
£ £ £ £ £
2(a) Voluntary Income
Planned Giving:
Gift Aid Donations 73509 73509 74704
Tax recoverable 23101 253 23354 21257
Other
Collections (Open
14068 576 14644 7250
Plate)
Donations 10065 2360 12425 6291
Legacies 1000 1000
Total 121743 3189 124932 109502
2(b) Activities for
Generating funds
Parish Magazine
8479 8479 5039
(advertising)
Fundraising 17436 1030 18466 7600
Total 25915 1030 26945 12639
2(c) Income from
Investments
Dividends 1116 1116 1149
Bank and Building
5 12 1421 1438 1157
Society interest
Total 1121 12 1421 2554 2306
2(d) Income from
Church activities
Fees from Weddings
15941 15941 10615
and Funerals
Parish Magazine
2583 2583 1471
(Sales)
Coffee, refreshments
3387 3387 556
and sundries
Rental Income 4390 4390 1336
Total 26301 26301 13978
Total Income 175080 4231 1421 180732 138425
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## **PAROCHIAL CHURCH COUNCIL OF LOWER WHARFE**
## **NOTES (Continued)**
## **3. EXPENDITURE**
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Unrestri Endowment
cted Restricted Funds Total Total
funds Funds £ 2022 2021
£ £ £ £
3 (a) Church Activities
Charitable Giving:
Church Overseas
Home Missions and church
2010 2010 453
societies
Secular Charities
Total 2010 2010 453
Other Church Expenditure:
Ministry: diocesan parish share 71085 71085 68181
Clergy expenses 459 526 985 218
Church Running Expenses 21405 455 21860 18327
Repairs and maintenance 12418 12418 10475
Service Expenses 6521 6521 4408
Sunday School & Youth Work 163 252 415 588
Church Magazine Costs 10088 10088 9495
Salaries and wages 15093 2400 17493 14944
Café Church 1000 1000
Printing, stationery & Sundries 4909 400 5309 5466
Live Streaming 5454 5454
Depreciation
Organ Costs and Scholarship 1000 1000 1339
Total 148595 5033 153628 133441
3 (b)
Raising Funds 4613 4613 951
Stewardship Costs
Total 4613 4613 951
Total Expenditure 155218 5033 160251 134845
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## **PAROCHIAL CHURCH COUNCIL OF LOWER WHARFE**
## **NOTES (Continued)**
## **4. STAFF COSTS**
||**Notes**|**2021**
**£**|**2021**
**£**|
|---|---|---|---|
|Wages and salaries||19638|14944|
|Average number of employees||2|2|
**There were no material pension costs and no payments attached to Social Security Changes**
## **5. FIXED ASSETS (Tangible)**
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Church
Equipment
£
Cost at 1 [st] January 2022 50339
Additions at cost
Cost at 31 [st] December 2022 50339
Total 50339
Depreciation at 1 [st] January 2022 50338
Charge for the year
Depreciation at 31 [st] December 2022 50338
Total 50338
Net Book Value at 31 [st] December 2022 1
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## **PAROCHIAL CHURCH COUNCIL OF LOWER WHARFE**
## **6(a) INVESTMENTS**
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2022 2021
£ £
Market value at 1 [st] January 2022 80418 79844
Revaluation gain (loss) (4990) 5574
Disposals 5000
Market Value at 31 [st] December 2022 75428 80418
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## **6(b) Debtors and prepayments (unrestricted funds)**
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2022 2021
£ £
Tax recoverable 8114 9017
Other debtors 10935 8613
Total 19049 17630
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## **7 LIABILITIES**
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2022 2021
£ £
Amounts falling due in one year
1584 1102
(unrestricted funds)
Accruals for utility and other costs 10547 16251
2020 Magazine income received in 2021 831 831
Total 12962 18184
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## **PAROCHIAL CHURCH COUNCIL OF LOWER WHARFE**
## **8 FUNDS**
NOTE FUNDS: -
Restricted Funds represent (a) income from trusts which may be expended only on those restricted objects provided in the terms of the trust or bequest and (b) donations and grants received for a specific object or invited by the PCC for specific objects for which they are given. Any balance remaining unspent at the end of an accounting period must be carried forwards as a balance of that fund.
The Endowment Fund represents an Endowment Trust the Capital of which is invested in Charifund Units and Charibond Shares and must be retained as a Capital Fund. The income is for the upkeep of the fabric of All Saints’ Church, Bramham.
Unrestricted Funds are general funds which can be used for PCC ordinary purposes.
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## **PAROCHIAL CHURCH COUNCIL OF LOWER WHARFE**
## **9 SUMMARY OF FUND MOVEMENT**
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Balance at Incoming Resources Investment Balance at
1-1-2022 Resources Expended Gains/(Losses) 31-12-2022
£ £ £ £ £
Unrestricted
73678 175080 155218 (2100) 91440
General funds
Endowment fund
All Saints’,
Bramham
-Mayman Trust 71886 1421 (2890) 70417
Restricted funds
St. Mary’s, Boston
Spa
-Organ fund 3019 2570 1385 4204
-Lower Wharfe
6767 625 3248 4144
Youth Fund
All Saints’,
Bramham
-Project
10308 2 10310
restoration fund
-Open Door 985 928 400 1513
-Thack Wray Trust 1 1 2
-Organ repair
8384 8384
fund
St. Peter’s,
Walton
Cutter memorial
699 699
fund
Church building &
11 11
heating fund
Tower and Fabric
4786 4786
fund
Parish share
355 105 460
contribution fund
Total 35315 4231 5033 34513
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## **PAROCHIAL CHURCH COUNCIL OF LOWER WHARFE**
## **10 SUMMARY OF ASSETS BY FUND**
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Unrestricted Restricted Endowment
funds Funds Funds Total 2022
£ £ £ £
Tangible
1 1
fixed assets
Current
104301 34613 70417 209331
assets
Liabilities:
amounts
12862 100 12962
falling due
in one year
Total 91440 34513 70417 196370
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