Registered Charity numbor.. 1132146 Parochial Church Councll of St Mary, Old Swinford Trustees, Report and Financial Statements 31 December 2023
Parochial Church Council of Sl Mary, Old Swinford Financial Stat8ments for the year ended 31 Dacember 2023 Contents Pages Trustees, Annual Report Independent Exam5nerfs Report Sl?toment of Flnancial Activities Balance Sheet Notes lo Ihe accounts 9-17
Parochial Church Council of St Mary. Old Swinford Trustèes, Annual Report for the year ended 31 Decembèr 2023 The Parochial Churoh Coun¢ll presents Ils report and the accounts for the year 6nded 31 December 2023. Reference and Administratlve Information The Parochial Church Council has delegated routine matters to a standing Committee which consists of the Rector, both Church Wardens, Secretary and Treasurer. 11 Is registered with the Charity Commission under reference number 1132146. The Parochi81 ChurGh Councll of Sl Mary. Old Swinford is also known as PCC. Principal Address The main address for contact Is:. Old Swinford Rectory Rectory Road Slourbridge Wesl Midlands DY8 2HA Trustees The Trustees al 31 December 2023 were:_ Judith Hall Judith Nex Pamela Jean ScJJdamore Antony Waller Tatford Anthony Lloyd Stanley Emest Williams Drew Cmen Elaine Buchan Mark A]lan Fussell Susan EIEabelh Wakeley Michael Thomas Blaxland Malcolm Walter Frost Mao'orie Ferguson Les fimms Christsne Mccullagh Roger Myrry King Revd. Jonathan Frederid( FITtc¥oft Revd. Jonathan Frederlck Fllt¢rolt was the Chair of the Charily. Page 1
Parochial Church Councll of St Mary, Old Swinford Trustees. Annual Report for the year ended 31 December 2023 continued- Structure Governance and Management The PCC has been formed under the Parochial Church Council Powers Me88ure119561 as amended and Church representation rules. The Trustees are elealed al the election of the Churchwardens and the Annual Parochial Church Meeting IAPCMI. Their appointment is recorded in the rninules of the meeting and no signatures of acceptance are required. The Council has power lo co-opt other members. Objectives and Activities Our prlncipal objeclive 1$ lo follow Christ through worship, outreach and mission. Whllst undertaklng tha above-menlioned activilles, the Trustees had due regard lo guidance publishÈd by the Charity Commission on public benefit issues. Achlevement and Performancg In last yearfs 'achiev8menl and performance report,, I reflected not only on changes which the year had brought bul also on Ih05e which lie ahead of us here al Sl Mary, Old Swinford. I begin this year's repDrl by outlining the ways we are respondlng to the call lo flnd new ways of living out God's love In Jesus Christ. Our Diocese recenfly introdud a new strategy for growth which includes 3 Diocesan priorities focussed on children and young people, 'renewal ¢hurchÈs' in areas of signrficanl population and 'new worshipping communities., These priorities are underplnned by a plan to 'equip ministers for mission., Al Parish level there Is an encouragement of churches to show they are planning for their own fulure viability. Here al St Mary's I have been working with our Mission Accompanier, Chrls Bright. slnce July. Early in the current year, our new 'Vision Tearn, began lo meet with Chris too,. working together lo develop a vision for Ihe next 5 y8ars and. eventually, lo create a 'heallh and sust2inabilily plan, which will enable and embody th81 vision. We will share the work of that team to both PCC 2nd more widely with our Church rnembership. I am very grateful for the way Vision Tèam members have commilled themselves lo this vital work. In 2023 we welcomed our new Curate. Rev'd Claire Cox and her family, Paul, Amelia and Albert. After a complicated siart, with Albert in hospital for over two monlhs, Clalre setued into her role lo which she brings great energy and joy. Shè now leads the Open the Book Team, which is growing, and is also planning the launch of an exciting new service al Sl Mary's, 'Singing Angels., Our Ministry Team expanded again and we also welcomed ordinand, Sooz Magee, who is with us until her planned ordination as Deacon in June 2024. Our 4 O'clock Chur¢h congregation continued lo meet on the first Sunday of each month and has been counted ss our first 'New Worshipping Community.. We are blessed by a growing 4 O'clock Team which experience the joy of sharing God's Good News as they support and encourage the families who regularly attend. The weekly pattern of services has sellled and we are enjoying a new rhythm. We now have a monthly evening service which has introduced our ¢ongregalions to Taize and lona style worship,. l Gonlinue lo be graleful lo Anthony and Theresa Perry for sharing th8ir knowledge of the laller. l am also very grateful lo Roger King for, among many things, his regular leadership of our Choral and plaln Evensong services. Many of our worship services continued lo be very well supported musically by the choir and the bell.ringers. We have also offered more 'wholeness and healing, services supported by members of our Pastoral TeaTll. another Sl Mary s Team which ha$ grown In the last year and whose work continues to be highly valued. Work with the waréens, continues lo attract many on second Saturday5 and those who ¢ome work wonderfully together lo maintain the Church and ils grounds lo now accustomed high standards. Challenges will always remain in respect of thè fabric of our buildings and. over the next few years, we will need to ft'nd new ways the raise the fund$ necessary lo k8ep them safe and sustainable. Poge 2
Parochial Church Councll of St Mary, Old Swlnford Trustees, Annual Report for the year ended 31 December 2023 ¢onlinued- Achlevement and Performance ..... Iwnlinued As always, our Master of Fabric Tony Lloyd, keeps the PCC up-lo-dale with these needs. Our finances carefully managed by Sian Williams and his Team. remaln Und pressure due, not least, lo the age and complexity of our buildings. Attendance 21 Easter 8nd Christmas services in 2023 was encouraglng and we were very blessed by a wonderful Christmas tree festival co-ordinated by Sally Frost and her Team. That festival and many of our social events reinforce the signtficanl role of Sl Mary's plays in our comrnunlly. Our close relationship with Oldswinford Church of England Primary School and our welcome of Ham Dingle Primary and Old Sviinford Hospital Schoo15 during the year point the way lo engagement with many more families and young people in our Parish. Vve aim to expand and deepen this aspect of our outreach wh1151 mainlainlng our welcorvTe for children via the Youth Group and Babies and Toddlers group. The most di51inGliv8ly Chrislian response lo challenge and change is prayer. Al Sl Mary, (Jd Swinford we are born aloft by cenlurias of faithful, trustful prayer. By thèse prayers, our Church has been drawn by God's Holy Spirit through many limes of renewal and resurrection. Our openness lo the goodness of God and lo the light of God in the people we encounter is enabled by prayer. By prayer loo may we be alert to the grfls il Is ourjoyful duly to share with those around us and for the benefil of generations lo come. Financial Review The accounts show 8 small surplus of £189. Whilst there has been an approx. 4¢/0 redu¢lion in both overall Income and expendllure, most incomè streams cornpare favourably with the previous financial year. Total donor income from all sources primarily include5 both Slewardshlp and Gift Ald envelopes, loosè collections from all services conducted, Standing Order payments. Income Tax Recovery and Sundry Donallon5. This has risen lo just OV6r £89.000, a 20A increase on the 2022 figure. I wish lo record my thanks lo all donors who support St Mary's so generously.11 is clear that in recent years, the way in which donations are made has changed. We have seen a movement away from the use of envelopes and an increas8 in the number of donor5 who pay by standing orderldirecl debil.11 is pleasing that £1,354 has been banked through the Conl8Ctless Glving device al the back ol the Church. l am very appre¢ialNe of the support. both financlal and tim8 that is freely given, that for obvious reasons does not find a mention in these accounts. This includes donations to the Church Flower Fund, The Christmas Tree Festival, the work on ground maintenance, work on gales leading up lo the Church, the upkèep of the bells and lower lo name a few. This signrficanlly helps control the Church expenditure on a day-to-day basis. Thank you. Mlni81ry Share payment ta the Diooe5e tolalled £64,500 against an expeoled payment of £67,070. This small shorff211 ha5 not been included in the accounts. The PCC is committed lo making ils Mlnistry Share payment In full as finances allow. The age and design of the buildings together with ongoing mainlenance of the Churchyard means that expenditure on repairs and renewals is an ongoing and constant companlon. Work on the east window at onsiderable ¢osl has already been identified for 2024. Monles for this and other necessary repairs cannot b8 found from our traditional regular sources af income. There 15 a need lo identify what our priorities are in the medium term and establish what external granlsl funds can be accessed. The PCC agreed a transfer of £2.500 for the work of the Mission Committee. Charitable conlribulions lo many worthwhile causes. both overseas and closer lo home have been made. Additional donations have been made lo Ihe Black Country Food Bank and the Children's Society. Paga 3
ParoGhi81 Church Council of Sl Mary, Old Swinford Trust995' Annual Report for thè year gnded 31 December 2023 continued- Financial Revlew . Iconlinued I believe these sel of accoLtnls reflect the financia5 position of Sl Mary's. The PCC is kept updated on financial fflallers al regular bi-monthly meetings. Finally, my thanks go lo the Finance Team for their continued hard work and timely advice in helping ensure Church finances ar8 carefully managed. Reserves Pollcy The Trustees consider that the funds wlhin the Ch8rity should be al a level lo cover operational Costs for al least 3 months, The reseNes are needed lo bridge the tradlng gap befften spending on the Charity's overheads and Ihe receipt of new funds. The reseThes inGILtde cash al bank. The Trustees monitor the cash levels on a regular basls. Worcester DloG¢se The Church is required lo contribute towards central ¢osls (which inolude clèrgy stipends and pensions}. During the yegr, the Charity incurred the following.. 2023 2022 Ministry share Wedding and other fees earned by the clergy 64.500 65,755 5,679 9,372 70.179 75.127 Pag8 4
Parochial Chur¢h Councll of St Mary* Old Swinford Trustees. Annual Report for the year ended 31 December 2023 continued- Trustees, Responsibilities The Trustees are responsible for preparing the Trustees, Annual Report and the financial slalernenls in accordance with applicable 18Iv and United ngdorn Accounting Standards (United Kingdom Generany Accepted Accounting Practice}. The law applicable to Charities in England & Wales requires the Trustees lo prepare financial slalemenls for each financial year which give a true and fair view of the slate of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing th058 financial stalemenls, the Trustees are required lo: select suitable accounting policies and then apply them consislenlly., observe the methods and prin¢iples in the Charities SORP 2Q19 IFRS 1021., make judgements and eslimales that are reasonable and prudent,. stale whether applicable accounting sland8rds have been followed, subject lo any mateiial departures disclosed and explained in the financial slatemenls., prepare the financial slalemenis on the going conGern basis unless it Is inappropriate lo presume that the Charity will continue in operation. The Trustees are responsible for keeping proper accounting records that disclose wlth reasonable accuracy al any lime the financial position of the Charity and enable them to ensure that the financial slalements CDmply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 2nd the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charfly and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the malnlenance and integrity of the Charily and financlal Information induded on thè Charity's website. Legislation in the United Kingdom governing the preparation and dissgminalion of financial slalements may differ from legislation in other jurisdictions. Approved by tho Trustees on 21 April 2024 and signed by.. Revd. Jonalhan Frederlck Fiitcroft Ichalrman) Page 5
Independeni Examin8r's Report lo Ihe Trustees of Parochial Church Councll of st Maryi Old Swlnford I report lo the Charity Tnjslees oll my examination of the accounts of the Charity for the year ended 31 December 2023 which are sel out on pages 7 10 17. ResponslbllitSes and basis of rèport As the Charity's Trustees you are responsible for the preparation of the accounts in accordance with the reqLJiremenls of the Charities Act 20111'lh8 Acl'l. I report In respect of my examination of the Charity'5 accounts carried out under seclion 145 of th8 Act and in carrying out my exarninalion I have followed the applicable Directions given by the Charity Commissk)n under section 145{5)Ib) of the Act. Independent Examiner's Statemgnt I have completed my examinaiion. I confirm thal no material mallers have Gome lo my attention in conneGlion with the examination givlng me cause lo believe that in any material aspeGt'. a¢counting records were not kept in respect of the Charlty as required by seGllon 130 of the Acl.. or 2. the accounts do not accord with those records., or 3. the accounts do not comply with the appliGable requiremenls concerning the form 8nd conlenl of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fair view, which is not a maller considered as part ol an independenl examination. I have no concerns and have come acr05S tio other mallers in Gonnection with the examinalion to which allenlion should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. Mr D l Holchkiss Chartered Accountant Brook House Moss Grove Kingswinford West Midlands DY6 gHS 21 Aprll 2024 Page 6
Parochlal Church Council of St Mary, Old Swlnford statement of Financial Activities for the year ended 31 December 2023 Unrestricted Restricted TQTAL FUNDS Funds Funds 2023 2022 Notes Incoming Resources Incoming resources from donors Qlher voluntary incoming resources Income from operating aclivi1185 lo further thè Council's objectives lo generate funds Income from inveslmenls Other income 2a 72.619 72,619 78,659 2b 25.116 25,116 18.100 2c 2d 2e 13,711 24,774 11,118 513 13,711 24,774 11,118 513 21,302 23,834 10,039 1.352 Total Incomlng resources 147,851 147,851 153,286 Resource$ Expended Grants Activities dlreclly relallng to work of Church Church management and adminislralion Cost of generating fund 38 3,274 3.274 3.360 3b 1 L18.561 108.561 112,3D9 3¢ 3d 22.555 13,272 22,555 13,272 22,900 15,629 Total resources expended 147,662 147,662 154,198 Nèt Incoming resources 189 189 (9121 Transfers bebNeen funds Net movement in funds 189 189 {912} Tot21 funds brought forward 122,41g 61,214 183,633 184,545 Total funds carried foThvard 122,608 61,214 183,822 183,633 Page T
Parochial Church Council of St Maryt Old Swinford Balance Sheet at 31 December 2023 2023 2022 Notes Fixed assets Inveslm¢nl assets 58,903 68,903 Current assets Debtors Cash al bank and in hand Inveslmènl assets al cost Imarkel value £30.343} 11,475 115.483 9,446 7.896 115,254 9.446 136,404 132,596 Liabilities (amounts falling due within one year} {11,4851 {7,866) Net current assets 124,919 124,730 Ngt assets 183.822 183.633 Funds Unreslricled Restricted 122,608 61,214 122,419 61.214 10 183,822 183.633 The fin8nclal statements on pages 7 to 17 were approved by the Trustees on 21 Aprll 2024 and signed on its behalf by:_ Revd. Jonathan Frédèrlck Flltcroft IChalrman} Page 8
Paro¢hial Chur¢h Council of St Mary, Old Swinford Notes to the Financial Statements for the yearended 31 December 2023 Accounting Policies The Parochial Church Council of St Mary, Oldswinford is a registered Charity in the United Kingdom. The Principal contact address is given in the Ch8rily information on pag8 1 of these financial slalemenls. The nature of the Charity's operations and principal aclivilies are outlined on page 2 of these financial stalemenls. The Charlty conslilules a public benefit enlily as defined by FRS 102. The financial staletnents have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended PracliGe applicable to charities praparing their accounts in accordance with the Financial Reportirbg Standard applicable in the UK and Republic of Ireland {FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accapled Practice. The financial 51alemenls are prepared on a going concern basis under the hlstori¢al cost convention, modrfied to include cert81n items 81 fair value. The significant accounting policles 2pplied in Ihtt preparation of these financlal slalemenls are sei out belDW. These policies have been consislenlly applied lo all years presented unless otherwise slated. Basis of Accounting The accounts have been prepared on an accruals basis. The financial slalemenls are prepared in sleding, which is th& function currency of the entity. Statement of compliance The Charity has applied Updatè Bull&lin 1 as published on 2 February 2016 and does not include a cash flow slalemenl on the grOndS that it is applying FRS 102 Section 1A. Fund5 General funds represent the funds of the Ch8rity that are not subject lo any reslriGtions regarding their use and are available for applicatlon on the general purpose of the Charity- Funds d&signaled for a particular purp058 by the Charity are also unrestricted. Reslricled funds are to be used for specCi¢ purposes a5 desigrbated by the Tru51ees and as lald down by the donor. The accounts include all Iran5aclions. assets and liabilities for which the Charity is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gathering5 of Church members. Inwming Resources Voluntary Income and capital sources Collections are recognised when received by or on behalf of the Charfly. Planned giving is recogrFised only when received. Income t8x rectrverable on gift sid donations is recognised when the Income Is received. Grants and legacies lo the Charity are accounted fDr upon receipt, the amount due is quantifiable and ils ullifflate receipt by the Charily is reasonably certain. Fund5 raised by the fayre, garden paty and similar events are accounted for gross. Sales of books and magazines from the Church bookstall are accounted for gross. Page g
Parochial Church Council of St Maryi Old Swinford Notes to the Fin?nGial Statements for the year ended 31 December 2023 Accounting Policies Icontinuedl other rncome Rental income from the lelling of Church premises is recognised when the rental is due. Income from investments Dividends and interest are accounted for when due and payable. Gains and losses on Investmgnls Realised gains or losses are rognISed when inveslments are sold. Resources Expended Grants Grants and donations are accounted for when paid over, or whell awarded, if that award creates a binding obligation lo the Charlty. Aclivilies direGllyre18ting to the work of the Church The Diocesan and Parish share is accounted for when paid. Fixed Asset5 VA TreGl8imabl Where VAT is reclaimable on any eligible expenditure, th• amount reclaimed is netted agalnst the cost of the expenditure. Consecrated land and buildings, and movable church furnishings Consecrated and beneficed properly is excluded from the accounts by the Charities Acl 2011. No value Is placed on movable church furnishlngs held by the ¢hurch wardens on special trust for the Charity and which requlre a faculty for disposal, since Ihe Charlty consid8rs Ihis lo be inalienable property. All expenditure incurred during the year on consecrated or benefice bulldings and movabS8 church fumishings. whether maintenance or improvement, is written off as expenditure in the SOFA and separately disc105ed. Other fixed assets Individual items of equipment with a purchase price of £1,000 or less are wrillen off when the asset Is acquired. Inv8slments Investments are valued al hisloriGal 5t al 31 December 2023. Curr&nt assels Amounts owing lo the Charity at 31 Decemb8r 2023 respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollaclable. Short term deposits include cash held on deposit either with the CBF Church of England Funds or al the bank. Page 10
Parochlal Church Councll of St Mary, Old Swinford Notes to the Flnancial Statements for the year eftded 31 De¢ember 2023 Accountlng Pollcies {continuedl Currpnt liabilities Amounts payable within ono year are racorded al transaction pri¢e and ere shown as accrued charges. Financial Instrum?nts A finan¢ial asset or a financial liability is reeognised only when the company becomes a party lo the conlraclual provisions of the Inslrumenl. Basic financial instruments are initially recognised at the liansaclion prl¢e, unless the arrangement conslilules a financing Iransaclion, where il is r&cDgnised at the present value of the future payments discounted at market rale of interest for a similar debt inslrumenl. Other financisl instruments are subsequently measured al fair value with any ch8nges recognised in profil or loss with the exception of hedglng in5tnJments in a designaled hedging relationship. Page11
Parochial Church CounGil of Sl Maryj Old Swinford Notes to the Financial Statements for the year ended 31 December 2023 Unrestricted Restricted Funds Funds TOTAL FUNDS 2023 2022 Incoming Resources 2a. Incomlng resourGes from donors Planned giving-. Donations by Gift Aid Income lax recoverable Other planned giving Collections (open plalel al all seThic¢s 8,800. 14,309 1 42,974, 6,536 72,619 J 8,800 14,309 42,974 6,536 10,867 16,447 43,643 7,702 72,619 78,659 2b. Olher voluntary incoming r&sotsrces Donations, 2ppe31s, elc. Legacies Donations received for specific purpose5 HMRC furlough grants 17,393J 17,393 11,747 2,000 4,353 7,723 < 7,723 25,116 25,116 18,100 2c. Incon7e from operating activities.. to further Ihe Council's objecls Magazine & bookstall Fees Candle rack Work with Children Social committee and coffee 12,618 92- 12,618 92 20,809 77 1,001 1,001 416 13,711 13.711 21,302 2d. Income from operating activities.. to generate funds Magazines ladvertisernenl fees) Use ofChurGh Christmas market Photocopying Hall lellings 70 60 865 50 23,729 55 410 464 60.. 865 50 23,720 22,905 24,774 24.774 23,834 2e. Income from Inv&slments Dividends and interest includillg any reclaimable tax Church Hall flat rent 6,4723 6,472 4.646 5,030 5.009 J11,118 11.118 10.039 2f. Otherincome VAT reclaim on repairs 513. 513 1.352 513 513 1,352 Total incoming resources 147,851 147,851 153,286 Page 12
Parochial Church Counoll of St Mary, Old Swinford Notes to the Financial Statements for tha year ended 31 December 2023 Unrestricted Restricted Funds Funds TOTAL FUNDS 2023 2022 Resources Expended 3a. Grants issionary and charitable giving 3,274 3,360 J 3b. AGtiyilies dir8clly relating to Ihe work olthg Church Ministry.. Diocesan Parish share Clergy expenses Running expenses Repairs and maintenance Upkeep of Churchyard Organist fees and choir expenses Other expenses Social Committee and coffee 64.500 578 19,810 6,554 5.097 9.288 2,734 64,500< 65,755 J 57& 15,88T 6,554 13,73& 5,097 3,610. 9,288'4 10,055 3,466 108,561 108,561 112,309 3c. Church management and admlnislratlon Adminislralion.. Adminislralor's salary Printing and slalionery Subscriptions, bank and professlonal charges Independent Examiner's fee Fees.. Wedding, Funerals. Bapli5ms and other 8,e68 1,650 226 2.700 9.311 8,668. j 1.650 226- 2,700., 9.311 8,426 1,339 733 2.700 9,702 22,555 22,555 22,900 3d. Costs ofgeneraling funds Church Hall expendlture 13,272 13,272 15,629 Total resourGes expended 147,662 147,662 154,198 Page 13
Parochlal Church Council of St Mary, Old Swlnford Notes to the Financial Statements for the year ended 31 December 2023 2023 2022 staff Costs Wages and salaries 23.497 25,119 23,497 25.119 The average number of persons employed by the Charity during the year. including the Truslees was 3 (2022. 31. Investment Asset5 These represenl'.- 2023 2022 Central Board of Finance of the Church of Efigland's inveslmelll fund Imarkel value £121,21112022- £110,788) Sh?res in Traidcrafl Ltd 57,878 57,878 1,025 1,025 58,903 58.903 Unrestricted Restrlcted Funds Funds 6. An?lysis of Net Assets by Fund Total Fixed assets for Church use.. Investment fixed assets Currenl assets Current liabilities 1,025 133.068 111,485) 57,878 3.336 58,903 136.404 111,4851 Fund balance 122,808 61,214 183,822 Page 14
Parochial Church Council of St Maryj Old Swinford Notes to the Financial Statements forthe year ended 31 December 2023 2023 2022 Dèbtors Income lax recoverable Prepayments 3.562 7,913 4,046 3,850 11,475 7,896 2023 2022 Liabilities (amounts falling due within one year} Accrued charges 11,485 7,866 Page15
Parochlal Church Council of St Maryi Old Swinford Notes to the Flnanclal Statements for the year ended 31 December2023 Unrestricted Funds The balances on each Designated Fund as al the end year are as follows:_ 2023 2022 Deslgnated Funds Clergy Housing Church LegaGies and Gifts Organ Fund Church Hall Bells Fund Anchor Bereavement The Ghildren's Fund Ilnc. Agalha Downing Children Fund) Graveyard Fund Tower Fund Friends of the Music Rectors Charities Water Aid Social Committee Sl Mary's Youth Club Work Conlaclless Digital Giving Sl Mary's Mission ChurGhwardens Gharilies 2.599 2,599 14,128 14.128 596 596 61,490 51.384 12,2771 19811 30 30 5,974 6.095 11,014} {7,110) 467 467 6,626 6,134 2.129 1,998 477 364 2.119 1,695 1,740 1,65S 1,354 77 1,634 1,292 1.552 1,552 99,624 81,975 Genaral Funds Church 20,941 38.403 Other Balances Church Flowers 2.043 2,041 Total 122,608 122,419 The Clergy Housing Fund represents monias used for maintenance of the dergy accommodation. The Church Legacies and Gifts Fund represent monies held for legacies and gifts that are not restricted in their use. Th8 Organ Fund represents monies used for the malnlenance of the Church organ. The Church Hall Fund represents rnonies used lo maintain the Church Hall and manage ils finances. The Bells Fund represents monies used for maintenance of the Chur¢h bells. The Anchor Bereavement Fund represents monies used to support those who are bereaved. The Children's Fund {Inc Agalha Downing Children Fund) represents monies used for the Church'5 work wlh children. The Graveyard Fund represents monies used lo maintain the Church graveyard. The Tower Fund represents monies used for maintenance of the Church Ic)wer. The Frlends of the MusiG Fund represenis monies used lo fund development of mtssie within the Church environment. Page le
Parochial Church Councll of St Mary, Old Swinford Notes to the Financial Statèments for theyear ended 31 De¢embpr 2023 Unrestrlcted Funds (contlnued) The ReGlor's Charities represent5 monies for charitable giving at the Rectorfs discretion. The iNaler Aid fund represents monies used for charitable overseas water provision. The Social Committee Fund represents monies available lo fund Church soc181 events. The Sl Mary's Youth Club Work Fund represents monies available for the work with youth Within the community. The Conlaclless Dioital Glving Fund records the amounts received from o¢nlaclless donallons made using the card machine. The Sl Mary's Mi55ion Fund represents monies used for chaiilable donations both overseas and locally. The Churchwardens Charities Fund repr$senls monies available lo Churchwardens for charitable donations. The General Funds represents the Church's working capital. The Church FIDwers Fund represen15 monles used lo fund the Church floral decoration. 10. Restrlcted Funds The balances on each fund as al the year end are as follows-. 2023 2022 Legacles and Grfi Fund St John's Church Hall Fund Fabric Fund 3,000 57.878 336 3,000 57,878 338 61,214 61,214 The Legacies and Gift Fund represents monies used for legacies and gifts for a specific purpose. Sl John's Church Hall Fund represents the Charity's capital reseNe. Interest is earned on the capital sum. The Fabric Fund represents monies usèd for the improvements and Maintenan of the Church bullding. 11. Related Party Transactions There ere no related party tran¥a¢lion¥ durlng the Gurrenl and pTrvious year. 12. Controlling Interest The Charity w3s under the control of the Trustees throughout the current and previous year. Page17