St. Margaret's Church, Horsforth Registered Chaiity Number 1132085 Accounts for the Year Ended 31st December 2023
St. Margaret's Church, Horsforth Registered Charity Number 1132085 Financial Statements for the Year Ended 31st December 2023 STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted Endow. Funds Funds ments 2022 Notes 2023 Incoming Resources 111,161 Voluntary income 22.436 Church V[beS 42,086 Activthes for gerEratll¥J fuThJs 1.155 Investn*nt irKome 176,838 Totsl Incoming Resources 255,799 94,557 43,793 4,425 398,574 65,735 6,256 43,793 4,425 120,210 I,063 88,301 278,364 Resources Expended 140,971 ChuTch thties 73,513 ChUb runniThJ rA)sts 6,064 Parish Centre costs 20 Costs of generating funds Total Resources Expended 220,568 178,217 100,151 10,732 220 289,321 128.599 59.016 10,732 220 198,568 49,618 41,135 90,753 109,253 (43,730) Net m¥emettt in fvmds (78,358) 187,611 320,012 241,654 18.459 206,070 335 335 338,806 448,059 382,536 338,806 Balances bht forwa (ffl 1 January Balances carrEd foTh¥ard on 31 [ernter P89e 1
St. Margaret's Church, Horsforth Registered Charity Number 1132085 Financial Statements for the Year Ended 31st December 2023 BALANCE SHEET AT 31 DECEMBER 2023 Total 2022 Notes Unrestricted Reslri¢ted Endow- Funds £ Funds £ ments £ 2023 TANGIBLE FIXED ASSETS 66,170 Church equiprnenl 66,170 21 S8,102 58,102 58,102 58,102 CURRENT ASSETS Cash at Bank and in Hand 10 Bardays Bank Community ts)nI l& 81,YM CBF general anI Virgin Morley ojrrenl al?Unt Virgin Money HCAP 1,545 Loan as guaiantor 82.176 United Trust Bank 534 Flower Fund and Tea Party 720 Cash & cheques in hand 165,889 1(K>,CQD 87,409 18,333 IC6,604 177,669 18,3 1,545 82,176 328 120 386,7T5 89,925 335 22 1,545 82,176 328 23 120 180,370 206,070 335 Debtors 6,984 Grfl repayments due fr( HMRC 1,598 Parish Centre letting fee5 d 4,894 VAT rehJn(5 due re [[$ 275 Churt events & letkng fees due 73,757 2.974 2,974 3,182 3,182 Current Liabilities 299 PAYE and Slon 1,548 Creditor Te parish rMtre 5,908 Cdtions forch3rrtS 7,T55 Total Ltabililies 111,885 CURRE? ASSETS 183.552 206,070 335 389,957 382,536 TOTAL I4 ASss 241,654 206,070 335 446,059 Approved by the Paro¢hlal ChUh Council on Apil 2024and slgned on its behalf by: Rev. Nigel &aIr Rector D KeHy In Ttewrer Page 2
Margaret's Church, Horsforth Re£teredch3rIy Mumber 1132(B5 Financial Statements for the Year Ended 31st December 2023 INCOMING RESOURCES 2023 2022 Unrestricted ReslrD¢ted Funds Fun(ts Totsl 2023 Voluntsry Income GIftA[d Other pL8nned gmng Open ate tk)natK)ns. granls &1gJxEs GfftA"d ieLtsred 41,729 5,1&5 6,5 49.586 8.141 171.767 41,561 41,561 5,650 2,736 195,413 10,439 255,799 2.736 1,063 10.439 65,735 Church Adlvltles Fees tor ldIng% and fvn Insuran HCA HCAPlCaféty Flow FuThJ and Tea PaEty 5,3fA) 6,2 6,256 38,493 20,824 27,467 1,517 94,557 38,493 20,824 27,467 1,517 88,301 17,076 32 22,436 6,256 Activities for Generating Funds Lelb'ng fees frun Parish Centre Events Cert5 in thur( Other fiJnd12iyng &h"¥ilies &Jndry in(xXe 33,204 8,881 28.035 13,297 1,802 28,035 13297 1,802 659 43,793 42,086 43.793 Investment Income Interest & dividends 1,1 1, 155 4,425 4,425 176,838 Total Incomlng Res{r¢e5 120210 278.364 394,149 Page 3
St. Margaret's Church, Horsforth Registered Charty Numbet 1132085 Financial Statements for the Year Ended 31st December 2023 RESOURCES EXPENDED 2023 2022 Notes Unrestricted Restrfded Funds Funds 2023 Church Activrbes Parish share oldiw o)sts Team Cwnc¥l & other dues p&d for wfddlr# th fiJne¥ Ser¥w & pastora IAusic, thcAr & (wist Ofke & ayministratr PhotLryying & nting Grts & donalS rrr £I,(Ya5. 1(fi,613 7t14 375 2,793 3,472 9,678 1,219 106,613 1,781 1,979 3,328 9,455 1.319 375 2,793 3,4n 9,678 1,219 12.019 19 595 15,787 23,025 1.188 178,217 8.929 92 Bank tharges Events & (x)n(lS Thi thurth HCA Communty CatelHcAPIPty Fk)wer Fur5d and Tea Pty 19 15,787 23,025 1,188 49,818 17,227 £740,971.00 128,599 Church Running Costs Ga5 Electricity Water InsuraTr StrKaJe garage renta lneral rnantena Cwetskng & Lkn BuiklirvJ & td8ied Equitrnt& iMprovts Organ tunirEg & repair5 Deprefiab"on cl thurth equwenl Sundry payments 9.626 2,654 187 4.030 9,180 7.736 9,180 7,736 305 5,556 5,556 550 5,776 4.861 924 1&97 5,776 4,861 42,059 41,135 757 37,678 16,071 16.071 8,058 73,513 59.016 41,135 100,151 Parish Centre Ccffjts Heabng, mnIenrE & annistrat EqipFrwI & irrorovements 6,028 6.426 6.426 4,306 10,732 10,732 Costs of Generating Funds (Jherfun(krai%ng event (x>sts 20 20 220 220 220 220,567 Totsl ReSoUeS Expended 198,568 90.753 289,321 Page 4
St. Margaret's Church, Horsforth Registered Charity number 1132085 Notes to the Annual Accounts 2023 1. ACCOUNTING POLICIES Basis of Financial Statements The financial statements have been prepared under the Charities Act 2011 and in accordan 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 {SORP{FRS1021) The financial statements have been prepared under the historical cost convention. The 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 th&r affiliation to another body, nor those that are informal gatherings of church members. Fund Accounting Unrestricted lunds are income funds which can spent on the general purpose5 of the PCC. Restricted funds comprise (a) income from endowments which is to be expended only on the restricted purposes intended by the donor and (b) revenue donations or grants for a specrfic PCC activity intended by the donor. INhere these funds have unspent balances. interest on their pooled investment is apportioned to the individual funds on an average balance basis. Designated 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. Endowmenl funds are funds of which the capital must be retained either permanently or at the PCC'S discretion. The income derived from the endowment is to te used either as restricted or unrestricted income funds, depending on the purpose for which the endowment was established in the first pla. Incoming Resources Planned giving, collections and similar donations are recorded when reived. Tax refunds are recognised when the incoming resour to which they relate is received. Grants and legacies are accounted for when the PCC is entltled to the use of the reSoUrs, their ultimate receipt is reasonably rtain and the amounts due are readily quantthable. Dividends are accounted for when declared receivable, interest as and vthen accrued by the payer. All incoming resources are accounted for gross. Page 5
St. Margaret's Church, Horsforth Registered Charity numtEr 1132085 Notes to the Annual Accounts 2023 Resources Expended Grants and donations by Ihe 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 it is incurred and is accounted for gross. Fixed Assets Consecrated and benefice property is not included in the accounts. in accordance with sections 10(2}la) and (c} of the Charities Act 2011. Movable church fumishings that are held by the vicar and churchwardens on special trust for Ihe PCC and which require a facutty 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 20% of the reducing balan has been adopted. 2. NOTES ON THE BALANCE SHEET 2.1 Church equipment is valued after deprecialion. as shown in Seclion 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 Charrty collections ov1 ". ArtEan IntematK)nal £521. 3. INCOMING RESOURCES 3.1 Donations reIVed include an anonymous gift from a parishioner of £181,000.. 3.2 The Horsforth Climate Action group continues bwth the PCC providing administrative support. DurÉng the year £8,000 was received to fund group artivities and £12.823.65 to cover the support workerfs salary and associated costs. Page 6
St. Margaret's Church, Horsforth Registered Charity numt¢r 1132085 Notes to the Annual Accounts 2023 3.3 HCAP and Communty Café a(aivities contsnue and in addth.on a Community Pantry has been established. A separate bank account has been opened to manage the associated income and expenditure. HCAP Income and Expenditure Account As at 31 Detember2023 INCOME b/hvd 2022 Household Support Welcome Spaces Leeds 2023 Grants reallocated Other Community Pantry Community Café 6,946 16.000 8.000 200 400 326 4,959 4,529 34,413 EXPENDITURE Household Support Welcome Spaces Cleaning CommunFtyevents Natter Café Grants reallocated other Community Café 10.023 6.750 83 1,182 87 4(X) 341 4.159 23.025 clfwd 18.333.79 Page 7
St. Margaret's Church, Horsforth Registered Chanty number 1132085 Notes to the Annual Accounts 2023 4.RESOURCES EXPENDED Grants and Donations - during the year the following donakn'ons were given out Sand Dams Intemational £1,000 Martin House Hospice £1,000 Artizan Intemational £1,OC Totsl Money raised for restricted purposes through funeral collections, raffles and special appeals is not inclLsded in these accounts. Staff Costs are included in the accounts as parts of the relevant major costs. We employed seven part-time staff during the course of the year- an organist, a junior choir leader, two church administrators, one church caretaker. a Parish Centre cleaner and a support worker for HCA. The total employment wsts for the year were £30.222 Payments to members of the Parochial Church Council No members of the PCC reiVed any remunerakn.on in the year to 31 December 2023. 4. RESTRICTED FUNDS 31 Dec 2022 £350 £430 £735 £1.515 Fund Title Lad Cha l Gates Fund Flower Fund and Tea Pa Parishioner rental fund 31 Dec 2023 £350 £328 £735 Total 6. ENDOWMENT FUNDS 31 Dec 2022 Fund Title The Bells Fund, the HH Newton Fund, the H Hutchinson Memorial Fund and the H Cla on Memorial Fund 31 De¢ 2023 £335 £335 Page 8
St. Margaret's Church, Horsforth Registered Chai?ty number 1132085 Notes to the Annual Accounts 2023 7. DESIGNATED FUNDS Unrestricted funds set aside in 2016 by the Parochial Church Counul for specific purposes.. - January l January Funds 2016 2022 added in 31 December the year 2023 £181,000 £0 £574 £181,574 Fund Title Buildin Fund Outreach and Mission Fund Long Term Reserve Total designated reserye funds £200.000 £100,000 £100.000 £400,000 £177,880 £ 87.309 £ 52.820 £318,009 £358,880 £ 87,309 £ 53,394 £499,853 8. FIXED ASSETS Tangible Fixed Assets (Unrestricted) Depreciation of church equipment is charged at 20% of the net book value at the start of the year and addrtions during the year. The ground Sour heating for the Parish Centre will be depreciated over 20 year5. Ground Source Heating Church Equipment Total Cost At 1 January 2022 Additions during the year 31 December 2022 49,243 147,731 335 148,066 196,974 335 197,309 49.243 Depreciation At l January 2022 Charge for the year Total to 31 December 2022 5,487 2,462 7.949 125,652 5,606 131,258 131,139 8,068 139 207 Net Book Value At 31 Dernber 2021 41.294 16.808 58,102 At 31 December 2023 43, 756 22,414 66,170 9. RESERVES The policy of the Parochial Church Council is to attempt to maintain a reserve of unrestricted funds equivalent to six months, nomial expendtture. in order to smooth oul fluctuations in cash flow and to 2meet emergencies. At the end of 2023, the unrestricted funds available provided a reseNe well in eX$S of the target_ Page 9