2022-12-31-accounts - The Parochial Church Council Of The Ecclesiastical Parish Of Holy Trinity Eltham

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UNAUDITED ANNUAL REPORTS AND FINANCIAL STATEMENTS

OF THE

PAROCHIAL CHURCH COUNCIL OF

HOLY TRINITY ELTHAM

FOR THE YEAR TO 31 DECEMBER 2022

PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY ELTHAM STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR TO 31 DECEMBER 2022

	Notes	Unrestricted	Restricted	Custodian	Total	Total
		Funds	Funds	Trustees	2022	2021
		£	£	£	£	£
INCOMING RESOURCES
Voluntary Receipts
Planned Giving		51,588	-	-	51,588	55,822
Collections and other Giving	4a	18,342	3,244	-	21,586	12,969
Income tax recovered		13,296	-	-	13,296	12,317
		_	______	_	_	_
		83,226	3,244	-	86,470	81,108
Activities for generating funds	4b	652	-	-	652	306
Receipts from Church Activities	4c	14,768	2,925	-	17,693	9,522
Investment income	4d	8,779	-	8,128	16,907	16,087
Other income	4e	-	-	-	-	5,813
		_	______	_	_	_
		107,425	6,169	8,128	121,722	112,836
		_	______	_	_	_
RESOURCES EXPENDED
Church activities
Diocesan parish share		82,500	-	-	82,500	75,600
Church Activities	5a	33,385	5,515	-	38.900	82,940
Fundraising	5b	649	-	-	649	2,012
Governance Costs	5c	7,610	-	-	7,610	7,323
		_	______	_	_	_
		124,144	5,515	-	129,659	167,875
		_	______	_	_	_
Excess of Receipts over
Payments		(16,719)	654	8,128	(7,937)	(55,039)
Gains and Losses on Investment
Assets		-	-	(33,243)	(33,243)	35,659
Transfer between funds		-	-	-	-	-
		_	______	_	_	_
		(16,719)	654	(25,115)	(41,180)	(19,380)
Funds b/fwd at 01.01.2022		(21,449)	8,310	377,688	364,549	383,929
		_	_	__	_	_
Funds c/fwd at 31.12.2022		£(38,168)	£8,964	£352,573	£323,369	£364,549
		_	_	__	_	_

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PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY ELTHAM BALANCE SHEET AS AT 31 DECEMBER 2022

	Notes	Unrestricted	Restricted	Custodian	Total	Total
		Funds	Funds	Trustees	2022	2021
		£	£	£	£	£
Fixed Assets
Tangible Assets	7	-	-	-	-	-
Investments	8	-	-	250,413	250,413	283,656
		_	______	_	_	_
		-	-	250,413	250,413	283,656
		_	______	_	_	_
Current Assets
Debtors	9	13,283	-	-	13,283	12,859
Cash at Bank		(48,938)	28,517	102,160	81,739	89,447
		_	______	_	_	_
		(35,655)	28,517	102,160	95,022	102,306
		_	______	_	_	_
Current Liabilities
Creditors: amounts falling due
within one year	10	2,513	19,553	-	22,066	21,413
		_	______	__	_	_
		2,513	19,553	-	22,066	21,413
		_	______	__	_	_
Net Current Assets		(38,168)	8,964	102,160	72,956	80,893
		_	_	__	__	__
Net Assets		£(38,168)	£8,964	£352,573	£323,369	£364,549
		_	_	__	__	__
Represented by:
Unrestricted Funds		(144,679)	-	-	(144,679)	(119,841)
Designated Funds	2	106,511	-	-	106,511	98,392
Restricted Funds	3	-	8,964	-	8,964	8,310
Custodian Trustees		-	-	352,573	352,573	377,688
		_	______	_	_	_
		£(38,168)	£8,964	£352,573	£323,369	£364,549
		_	______	_	_	_

Approved by the PCC on and signed on their behalf by:

…………………………………. …………………………………. Chair Churchwarden

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PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY ELTHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 DECEMBER 2022

1. ACCOUNTING POLICIES

Basis of Preparation of Financial Statements

The financial statements have been prepared under the Church Accounting Regulations 2006 in accordance with applicable accounting standards and the current Statement of Recommended Practice, Accounting and Reporting by Charities and applicable accounting standard FRS102.

The financial statements have been prepared under the historical cost convention except for investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law.

Incoming Resources

Voluntary Income including, donations, gifts, legacies, and grants that provide core funding or are of general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Tax refunds are recognised when the incoming resource to which they relate is received. All incoming resources are accounted for gross.

Resources Expended

Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of value added tax, which cannot be recovered.

Unrestricted Funds

These are general funds which can be used for PCC ordinary activities.

Restricted Funds

These are donations or grants that are received for a specific purpose. The funds may only be expended on the specific purpose for which they were given. Any balance that remains unspent at the year end must be carried forward as a balance on that fund.

Fixed Assets

Consecrated and benefice property is not included in the accounts under the Charities Act 2011. Tangible Fixed Assets are stated at cost or valuation, less depreciation. Individual items of equipment with a cost or valuation of less than £500 are written off when the asset is acquired. These assets are depreciated on a straight-line basis over 4 years.

Investments

These are valued at market value as at the year end.

2. The movements in designated funds during the year were:

	Bal b/fwd	Receipts	Payments	Transfer	Bal c/fwd
Flat 59a	8,109	-	(284)	-	7,825
Flat 59b	70,298	8,700	(297)	-	78,701
Flower Fund	2,890	-	-	-	2,890
Candle Fund	337	-	-	-	337
Andrews Place Fund	16,758	-	-	-	16,758
	_	______	______	_	_
	98,392	8,700	(581)	-	106,511
	______	______	______	_	_

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PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY ELTHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 DECEMBER 2022

3. The movements in restricted funds during the year	3. The movements in restricted funds during the year	were:
	Bal b/fwd	Receipts	Payments	Transfer	Bal c/fwd
Church Day Outings	360	-	-	-	360
Diocese Fees	1,810	2,925	(1,933)	-	2,802
Insurance Claim	430	-	-	-	430
Altar Cloths	51	-	-	-	51
Church Art Fund	3,695	-	-	-	3,695
Vestments Fund	992	-	-	-	992
Help for Heroes	-	379	(379)	-	-
Parish Office Grant	274	-	-	-	274
Open Doors (Syria Refugees)	698	55	(698)	-	55
Ukraine	-	305	-	-	305
Malta Pilgrimage	-	725	(725)	-	-
Father Brett Retirement	-	1,225	(1,225)	-	-
Uden’s Christmas Tree	-	225	(225)	-	-
A Wahjohi	-	330	(330)	-	-
	_	______	______	_	_
	8,310	6,169	(5,515)	-	8,964
	_	______	______	_	_

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PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY ELTHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 DECEMBER 2022

INCOMING RESOURCES

4a
	Unrestricted	Restricted	Custodian	Total	Total
	Funds	Funds	Trustees	2022	2021
	£	£	£	£	£
Collections (Open Plate)	4,806	-	-	4,806	3,350
Sundry Donations	8,152	3,244	-	11,396	9,619
Legacies	5,384	-	-	5,384	-
	______	______	______	______	______
	18,342	3,244	-	21,586	12,969
	______	______	______	______	______

4b Activities for Generating Funds

b Activities for Genera	ting Funds
	Unrestricted	Restricted	Custodian	Total	Total
	Funds	Funds	Trustees	2022	2021
	£	£	£	£	£
Parish Magazine	-	-	-	-	-
Tea & coffee	652	-	-	652	306
	______	______	______	______	______
	652	-	-	652	306
	______	______	______	______	______

4c Receipts from Church Activities

c Receipts fromChurch Ac	tivities
	Unrestricted	Restricted	Custodian	Total	Total
	Funds	Funds	Trustees	2022	2021
	£	£	£	£	£
Church Hall Lettings	12,531	-	-	12,531	4,625
Fees	2,237	2,925	-	5,162	4,897
	______	______	______	______	______
	14,768	2,925	-	17,693	9,522
	______	______	______	______	______

4d Investment Income

d Investment Income
	Unrestricted	Restricted	Custodian	Total	Total
	Funds	Funds	Trustees	2022	2021
	£	£	£	£	£
Dividends	-	-	7,453	7,453	7,208
CBF Deposit Fund Interest	79	-	675	754	39
Rental Income	8,700	-	-	8,700	8,840
	______	______	______	______	______
	8,779	-	8,128	16,907	16,087
	______	______	______	______	______

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PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY ELTHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 DECEMBER 2022

INCOMING RESOURCES (Cont’d)

4e Other Income
	Unrestricted	Restricted	Custodian	Total	Total
	Funds	Funds	Trustees	2022	2021
	£	£	£	£	£
Insurance Claims	-	-	-	-	5,813
Parish Retreat	-	-	-	-	-
	______	______	______	______	______
	-	-	-	-	5,813
	______	______	______	______	______
RESOURCES EXPENDED
5a Church Activities
	Unrestricted	Restricted	Custodian	Total	Total
	Funds	Funds	Trustees	2022	2021
	£	£	£	£	£
Ministry & Charitable Giving
- Home	1,875	3,582	-	5,457	465
- Overseas	887	-	-	887	1,182
Other Ministry Costs	1,243	-	-	1,243	1,253
Church Running & Maintenance	18,902		-	18,902	7,944
Lighting Upgrade	-	-	-	-	62,426
Church Hall	3,001	-	-	3,001	2,734
Cost of Services	2,600	-	-	2,600	2,635
Funeral Expenses & Memorials	628	-	-	628	555
Fees payable to Diocese	-	1,933	-	1,933	-
Postage & Stationery	2,353	-	-	2,353	1,626
Subscriptions	160	-	-	160	246
Telephone	1,201	-	-	1,201	1,343
Hospitality	303	-	-	303	-
Sundries	232	-	-	232	531
Depreciation of Equipment	-	-	-	-	-
	_	_	_	_	_
	33,385	5,515	-	38,900	82,940
	_	_	_	_	_

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PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY ELTHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 DECEMBER 2022

RESOURCES EXPENDED (Cont’d)

5b	Fundraising
		Unrestricted	Restricted	Custodian	Total	Total
		Funds	Funds	Trustees	2022	2021
		£	£	£	£	£
Tea & Coffee		68	-	-	68	64
Maintenance of Rental Properties		581	-	-	581	1,948
		_	_	_	_	_
		649	-	-	649	2,012
		_	_	_	_	_
5c	Governance Costs
		Unrestricted	Restricted	Custodian	Total	Total
		Funds	Funds	Trustees	2022	2021
		£	£	£	£	£
Insurance		7,110	-	-	7,110	6,677
Bank Charges		-	-	-	-	-
Independent Examination Fee		500	-	-	500	550
		_	_	_	_	_
		7,610	-	-	7,610	7,227
		_	_	_	_	_
6	STAFF WAGES
		Unrestricted	Restricted	Custodian	Total	Total
		Funds	Funds	Trustees	2022	2021
		£	£	£	£	£
Wages & Salaries		5,601	-	-	5,601	5,369
		_	_	_	_	_
		5,601	-	-	5,601	5,369
		_	_	_	_	_

During the year the PCC employed a hall booking administrator and a music director, all on a part time basis. No payments made were large enough to attract social security deductions.

Any expenses paid to clergy are small immaterial amounts, which relate to their function as PCC members. No other payments were made to PCC members.

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PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY ELTHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 DECEMBER 2022

7	TANGIBLE ASSETS
		Total	Total
		2022	2021
		Office	Office
		Equipment	Equipment
		£	£
	COST
	As at 01.01.2022	3,136	3,136
		_	_
	As at 31.12.2022	3,136	3,136
		_	_
	DEPRECIATION
	As at 01.01.2022	3,136	2,352
	Charge for the year	-	784
		_	_
	As at 31.12.2022	3,136	3,136
		_	_
	NET BOOK VALUE
	As at 31.12.2022	-	-
		_	_
8	INVESTMENTS

The PCC hold 12128.96 shares in the CBF Investment Fund.

				Total		Total
				2022		2021
				£		£
	MARKET VALUE
	As at 01.01.2022			283,656		247,997
	Revaluation gain/(loss)			(33,243)		35,659
				_		_
	As at 31.12.2022			250,413		283,656
				_		_
9	DEBTORS
		Unrestricted	Restricted	Custodian	Total	Total
		Funds	Funds	Trustees	2022	2021
		£	£	£	£	£
	Tax Recoverable	13,283	-	-	13,283	12,859
	Prepayments	-	-	-	-	-
	Other Debtors	-	-	-	-	-
		_	_	_	_	_
		13,283	-	-	13,283	12,859
		_	_	_	_	_

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PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY ELTHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 DECEMBER 2022

10
	Unrestricted	Restricted	Custodian	Total	Total
	Funds	Funds	Trustees	2022	2021
	£	£	£	£	£
Accruals	2,513	-	-	2,513	1,860
Other Creditors	-	19,553	-	19,553	19,553
	_	_	_	_	_
	2,513	19,553	-	22,066	21,413
	_	_	_	_	_

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INDEPENDENT EXAMINER’S REPORT TO THE PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY ELTHAM ON THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

This report on the financial statements of the PCC for the year to 31 December 2022, which is in respect of an examination carried out in accordance with the Church Accounting Regulations 2006 (‘the Regulations’) and in accordance with s145 of the Charities Act 2011 (‘the Act’).

Respective responsibilities of the PCC and the examiner

As members of the PCC, you are responsible for the preparation of the financial statements. You consider that the audit requirement of the Regulations and section 144 (1) of the Act do not apply. It is my responsibility to issue this report on those financial statements in accordance with the terms of the Regulations.

Basis of this report

My examination was carried out in accordance with the General Directions given by the Charity Commission under section 145 of the Act and to be found in the Church Guidance, 2006 edition, issued by the Finance Division of the Archbishops’ Council. That examination includes a review of the accounting records kept by the PCC and a comparison of the accounts with these records. It also includes considering any unusual items or disclosures in the financial statements 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 I do not express an audit opinion on the view given by the accounts.

Independent examiner’s statement

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 Act; and
to prepare financial statements, which accord with the accounting records and comply with the requirements of the Act and the Regulations

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.

NEAL M ROGERS FFA/FIPA FOR AND ON BEHALF OF BERACAH ADMINISTRATION LIMITED INCORPORATED FINANCIAL ACCOUNTANTS 37 ST JOHNS ROAD SIDCUP KENT DA14 4HD Date: April 2023

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