St. Margaret's Church, Horsforth Registered Chanty Number 1132085 ¥J4. Accounts for the Year Ended 31 St December 2022
St. Margarevs Church, Horsforth Registeied Charity Number 1132085 Financial Ststements for the Year Ended 31st December 2022 STATEMENT OF FINANCIAL ACTIVITIES 2021 Notes Unrestricted Restricted Endow. Funds Funds ments 2021 Incoming Resources Voluntary income Church activitÈes Acb'vilies for generatirpJ fury Investment income Total Incoming Resources 96,300 57.439 25,524 1,672 180,935 69,195 5,360 42,086 1,155 117,795 41,966 17,076 111,161 a436 42,086 1,155 176,838 59,042 Resources Expended 161,148 Church athvitses 95.681 Church njnning costs 5,825 Parish Centre costs Costs ol generab'ng J[S Total Resources Expended 117,528 36,103 8,025 20 161,675 21,158 37,472 138,684 73,575 8,025 20 220,303 262,654 58,628 (81, 719J Nel movement in funds {43,880) 414 143,466} 464,255 382,536 BalaeS bToughl forward ( 1 January Balances carrd fopKard on 31 Dember 363,891 320,011 18,310 18,724 335 335 381536 339,070 Page 1
St. Margaret's Church. Horsforth Registered Charity Number 1132085 Financial Statements for the Year Ended 31st December 2022 BALANCE SHEET AT 31 DECEMBER 2022 Total 2021 Unrgstrictwj Restricted Endow. Funds £ Funds £ ments £ 2022 TANGIBLE FIXED ASSETS 73.900 Church equipment 73,900 65.9)2 65,SY)2 65,902 65,902 CURRENT ASSETS Cash at Bank and in Hand 79,688 Barclays Bank Community axjyjnl IGenera] 81.504 CBF general act))unl 49.570 Yorkshire Bank (xjirenl axx)unl 7,545 Loan as guarantor 81,564 United Trust Bank 534 Flower FuNd 120 Cash & cheques in hand 294.525 10 81.504 75,328 1,545 82.176 10 81,504 1(K>,761 1,545 82,178 534 120 265,650 24,098 335 2.2 534 23 240,683 21632 Debtors Grft Aid repayments due ffom HMRC 3.899 Parish Centre lelty.ng fees due 9,228 VAT refund due re repair5 1.635 Church events & tt1ft9 fees due 14.762 6,983 1,598 6,118 275 14,974 1,598 6,118 275 14,974 Current Liabilities PAYE and pensDn 30 Creditor re parish (*ntre tkngs 100 Flower Fund receipts for 2022 521 CIAlectiolls fot charilies 651 1.548 1,548 2.4 5.WJ8 5,908 5,908 7,456 Total Liabilities 308.636 NET CURREKf ASSETS 254,109 18,724 335 273,168 382,536 TOTAL ASss 320,011 18,724 335 339,070 Approved by the Parochial Church Council on and Signed on its behalf by.. Rev. Nigd &nclair Rector D Keffty Fk)n Treasurer Page 2
Margaret's Church. Horsforth Financial Statements for the Year Ended 31st December 2022 INCOMING RESOURCES 2022 Unrestrided Restiicted Funds Funds 2021 Total 2022 Voluntary Incon Gift ving Other [AaftJ giving OFW FAate u)lledS DonalMYlS. 9[ts & recg)¥ered 50,982 2.931 1,801 31,951 8,635 96.3 41, 5.135 6,5g) 7.6(K) 8,141 69.195 41,729 5,135 6,590 49,566 8,141 111,161 3.1 41,966 41,966 Church Activiiie5 Fees for weddings and ful5 Insurw( thms 5,360 5,457 51,729 254 57,439 HCAPIC(mmunty (aféTrlCA Fr fijnd 17,076 17,076 17,078 22,436 5.360 Activities for Generating Funds Lethng fees from Parish Cenlre Events and (xincerts in church Ott)ef fundraising ""e$ &Jndry In(e 19.177 6,347 33,204 8,881 33,204 8,881 25,524 42.Q86 42,086 Investment Income Interest & dividends 1,672 1,672 1.155 1,155 1,155 1,155 176,838 180,935 Totsl Incoming Resources 117,795 59,042 Page 3
St. Margaret's Church, Horsforth Registered ChJty NtHnber 1132085 Financial Statements for the Year Ended 31st December 2022 RESOURCES EXPENDED 2022 2021 Unresiricted Re5trided Funds Funds 2022 Church Activtiie5 Parish share ofdicman (xtsts Team Counal & other dues Fees paid lor wed(tir¥5 WMI fijneras Serww & pastoral MUSK, thoir & org%1 offi & &Innistra)n PhotOc4)ng & trfinbng Grants & (k)nabons ffl Bk charges Events & (x>ncerts ni church Communty CaféIHCAPCA £98,976.00 1,935 1,200 4,260 2.185 5,592 1CQ.095 1.978 1.781 1,342 3.328 9,455 1.319 1ffi.095 1,978 1,781 1,342 3,328 9,455 1.319 3,929 93 822 17,227 2.652 43 440 42,421 239 £161,147.00 3,929 822 17,227 117.528 21,156 138,684 Church Running Costs 10,144 4,832 191 5,278 542 9,626 2,654 187 4.030 564 2,687 9,626 2,654 187 4,030 564 2.687 5,380 1,885 757 37,472 8.333 Elcctriaty Water Insuran Storage garage ren General rn&nlen Caretsking & deaniTrg Building & rdaled *ork Equipment & irnprownents (hgan luning & repairs DeFryiab"on of thurth ewpmenl Sundry payrnents 1,739 46.440 12,632 1,885 757 37,472 9,337 8,333 95,681 36,103 37,472 73,575 Parish Centre Costs Heating, rnwntenan & adrninsstrabon Etwipmenl & improvements 5,825 7.989 36 8,025 7,989 5,825 B,025 Costs of Generating Funds Obkrfvn(krai%ng eventtosts 20 20 20 262.652 Total Resources Expended 161,675 58,628 220.303 Page 4
St. Margaret's Church, Horsforth Registered Charity number 1132085 Notes to the Annual Accounts 2022 1. ACCOUNTING POLICIES Basis of Financial Statements The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006, in accordance with applicable accounting standards and the 2016 version of the Statement of Recommended Practi, Accounting and Reporting by Charities ISORPIFRS102)) The financial statements have been prepared under the historical cost convention. The statements include all transactions, assets and liabilrties for which the PCC is responsible in law. They do not include the accounts of church groups that owe their affiliation to another body, nor those that are informal gatherings of church members. Fund Accounting Unrestricted funds are income funds which can be spent on the general purposes of the PCC. Restricted funds comprise la} income from endovrnents which is to be expended only on the restricted purposes intended by the donor and (b} revenue donations or grants for a specific PCC activity intended by Ihe donor. Where these funds have unspent balan$, interesl on their pooled investment is apportioned to the individual funds on an average balan basis. De&gnated funds are general funds set aside by the PCC for use in the future for specific projects or purposes. They remain unrestricted and the PCC may move any surplus to other general funds. Endowment funds are funds of which the capital musl be retained either permanently or at the PCC'S discretion. The income derived from the endowment is to be used either as restricted or unrestricted income funds, depending on the purpose for which the endowment was established in the firsi pla. Incoming Resources Planned giving, collections and similar donations are recorded when received. Tax refunds are recognised when the incoming resource to which they relate is recetved. Grants and legacies are accounted for when the PCC is entitled to the use of the resources, their ultimate reIpt is reasonably rtain and the amounts due are readily quantifiable. Dividends are accounted for when declared receivable, interest as and when accrued by the payer. All incoming reSoUrS are accounted for gross. Resources Expended Grants and donations by the PCC are accounted for when paid over or when awarded, if that award creates a binding or constructive obligation on the PCC. The diocesan parish share expected to be paid over is accounted for when due_ All other expenditure is generally recognised when ¢t is incurred and is accounted for gross. Page 5
St. Margaret's Church. Horsforth Registered Charty number 1132085 Notes to the Annual Accounts 2022 Fixed Assets Consecrated and benefice property is not induded in the accounts. in accordance with sections 10(2)(al and (c) of the Charities Act 2011. Movable church furnishings that are held by the vicar and churchwardens on special trusl for the PCC and which require a faculty for disposal are inalienable property. A register is currently being compiled of the church's inventory. This is the eighth year that the church equipment has been depreciated. A rate of 200k oflhe reducing balance has been adopted. 2. NOTES ON THE BALANCE SHEET 2.1 Church equipment is valued after depreciation, as shown in Section 8 below. 2.2 St. Margaret's loaned a retumable deposit as guarantor for a rented house. 2.3 Petty cash float £120. 2.4 Charity collections owed include £521 to Artisan International_ 3. INCOMING RESOURCES 3.1 Donations received indude an anonymous gfft from a parishioner of £6,¢)00 as well as a grant of £25,000 from the Howard family in respect of the Organ Repair Fund. 3.2 HCAP received funding of £7,500 to enable rt to ttjntinue providing support to those affected by the aftermath of the Covid Pandemic. Income from the Communty Café is stated after deducting expenses for use of the Parish Centre. During the year the Horsforth Climate Adion group was set up with the PCC providing administration support. £1230.88 was received as a grant to fund group activtties and £5177.50 to cover the support worke¢s salary and associated costs. Page 6
St. Margaret's Church, Horsforth Registered Chanty nUMr 1132085 Notes to the Annual Accounts 2022 4. RESOURCES EXPENDED Grants and Donations - given the continuing financial uncertainty the decision was taken to defer making any grants or donalions until the following financial year_ However, support has been provided tolhe local communty by allowing local voluntary groups to use the Parish Centre and Church buildings free of charge as well as use of the buiklings as Warm Spaces. In addition, our partnership with Horsforth Communty Cafe enabled the following donations: _ Food Revival (formerly The Real Junk Food Project) £1,500 Horsforth Community Garden £500 Total Money raised for restricted purposes through funeral collections, raffles and special appeals is not included in these accounts. staff Costs are included in the accounts as parts of the relevant major costs. We employed eight part-time staff duiing the course of the year. an organist, two church administrators, one church caretaker. a Parish Centre deaner and a support worker for HCA. The total employment costs for the year were £14,848. Payments to members of the Parochial Church Council No members of the PCC received any remuneration in the year to 31 December 2022. RESTRICTED FUNDS , 31 Dec 2021 £350 £430 £735 Fund Title Lad Cha l Gates Fund Flower Fund Parishioner rental fund 31 Dec 2022 £350 £534 £735 £1,619 Total Due to the sad death of the treasurer of the Flower Fund Treasurer, records are not available for the Flower Fund for the year to 31 December 2022. Page 7
St. Margaret's Church, Horsforth Registered Charity numtEr 1132085 Notes to the Annual Accounts 2022 6. ENDOWMENT FUNDS 31 Dec 2021 Fund Title The Bells Fund. the HH Newton Fund. the H Hutchinson Memorial Fund and the H Cla on Memorial Fund 31 Dec 2022 £335 £335 7. DESIGNATED FUNDS Unrestricted funds set aside in 2016 by the Parochial Church Council for specific purposes: 31 December Fund Title January 1 January Utilised in 2016 2021 the year 2022 £200,000 £168,652 (£9,228) £177,880 £100.000 £ 87,948 £639 £ 87,309 £100,000 £ 50,860 {£1.960) £ 52,820 £400,000 £307,460 £10,549 £318,009 Building Fund Outreach and Mission Fund Long Temi Reserve Total designated reserve funds Addition to Building Fund is VAT reclaimed on the new kitchen in church. Addition to Long Tem Reserve is the feed in tsriff reiVed in resr*d of the ground Sour heating in the Parish Centre. 9. FIXED ASSETS Tangible Fixed Assets (Unrestricted) Depreciation of church equipment is charged at 2011k of the net book value at the start of the year and additions during the year_ The ground source heating for the Parish Centre will be depreciated over 20 years. Ground Source Heating Church Equipment Total Cost At 1 January 2021 Additions during the year 31 December 2022 49,243 147,731 335 148,066 196,974 49,243 197_309 Depreciation At 1 January 2021 Charge for the year 3.025 2.790 120.049 5.543 123,074 8,333 Total to 31 December 2022 5,815 125.592 131,407 Net Book Value At 31 Dernber 2022 43.428 22,474 65,902 At 31 December 2021 46,218 27,682 73, 900 Page 8
St. Margaret's Church. Horsforth Registered Charty number 1132085 Notes to the Annual Accounts 2022 10. RESERVES The policy of the Parochial ChurGh Council is to attempt to maintain a reserve of unrestricted funds equivalent to six months, nomial expenditure, in order to smooth out fluctuations in cash flow and lo meet emergencies. At the end of 2022. the unrestncted funds available provided a ieserve well in excess of the taiget. Page 9