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 ChU￿b 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 b￿ht 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 a￿nI
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 Cd*tions forch3rrt￿S
7,T55
Total Ltabililies
111,885
CURRE?￿ ASSETS
183.552
206,070
335
389,957
382,536
TOTAL I4￿ ASs￿s
241,654
206,070
335
446,059
Approved by the Paro¢hlal ChU￿h Council on
Apil 2024and slgned on its behalf by:
Rev. Nigel &￿aIr
Rector
D KeHy
I￿n Ttewrer
Page 2

Margaret's Church, Horsforth
Re£￿teredch3rI￿y 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 ieLts*red
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
HCAPlCafé￿￿ty
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(xX￿e
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
Gr￿ts & donal￿￿S 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 CatelHcAPIP￿ty
Fk)wer Fur5d and Tea P*ty
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
l*neral rnantena
Cwetskng & Lkn
BuiklirvJ & td8ied
Equitrnt& iMprov￿ts
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, m￿nIen￿rE & a*nnistrat
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 ReSoU￿eS 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 re￿ived. 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 reSoUr￿s, 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 ov￿1 ". ArtEan IntematK)nal £521.
3. INCOMING RESOURCES
3.1 Donations re￿IVed 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 re￿iVed 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 De￿rnber 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