UNAUDITED ANNUAL REPORTS AND FINANCIAL STATEMENTS
OF THE
PAROCHIAL CHURCH COUNCIL OF
HOLY TRINITY ELTHAM
FOR THE YEAR TO 31 DECEMBER 2023
PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY ELTHAM STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR TO 31 DECEMBER 2023
| Notes | Unrestricted | Restricte | Custodian | Total | Total | |
|---|---|---|---|---|---|---|
| Funds | d Funds | Trustees | 2023 | 2022 | ||
| £ | £ | £ | £ | £ | ||
| INCOMING RESOURCES | ||||||
| Voluntary Receipts | ||||||
| Planned Giving | 46,019 | - | - | 46,019 | 51,588 | |
| Collections and other Giving | 4a | 59,102 | 2,269 | - | 61,371 | 21,586 |
| Income tax recovered | 10,631 | - | - | 10,631 | 13,296 | |
| _ | ______ | _ | _ | _ | ||
| 115,752 | 2,269 | - | 118,021 | 86,470 | ||
| Activities for generating funds | 4b | 695 | - | - | 695 | 652 |
| Receipts from Church Activities | 4c | 18,472 | 887 | - | 19,359 | 17,693 |
| Investment income | 4d | 1,484 | - | 9,669 | 11,153 | 16,907 |
| Other income | 4e | - | - | - | - | - |
| _ | ______ | _ | _ | _ | ||
| 136,403 | 3,156 | 9,669 | 149,228 | 121,722 | ||
| _ | ______ | _ | _ | _ | ||
| RESOURCES EXPENDED | ||||||
| Church activities | ||||||
| Diocesan parish share | 83,520 | - | - | 83,520 | 82,500 | |
| Church Activities | 5a | 41,605 | 3,032 | - | 44,637 | 38.900 |
| Fundraising | 5b | 8,282 | - | - | 8,282 | 649 |
| Governance Costs | 5c | 7,863 | - | - | 7,863 | 7,610 |
| _ | ______ | _ | _ | _ | ||
| 141,270 | 3,032 | - | 144,302 | 129,659 | ||
| _ | ______ | _ | _ | _ | ||
| Excess of Receipts over | ||||||
| Payments | (4,867) | 124 | 9,669 | 4,926 | (7,937) | |
| Gains and Losses on Investment | ||||||
| Assets | - | - | 23,766 | 23,766 | (33,243) | |
| Transfer between funds | - | - | - | - | - | |
| _ | ______ | _ | _ | _ | ||
| (4,867) | 124 | 33,435 | 28,692 | (41,180) | ||
| Funds b/fwd at 01.01.2023 | (38,168) | 8,964 | 352,573 | 323,369 | 364,549 | |
| _ | _ | __ | _ | _ | ||
| Funds c/fwd at 31.12.2023 | £ (43,035) | £9,088 | £386,008 | £352,061 | £323,369 |
Page 2 of 11
PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY ELTHAM BALANCE SHEET AS AT 31 DECEMBER 2023
| Notes | Unrestricted | Restricted | Custodian | Total | Total | |
|---|---|---|---|---|---|---|
| Funds | Funds | Trustees | 2023 | 2022 | ||
| £ | £ | £ | £ | £ | ||
| Fixed Assets | ||||||
| Tangible Assets | 7 | - | - | - | - | - |
| Investments | 8 | - | - | 274,179 | 274,179 | 250,413 |
| _ | ______ | _ | _ | _ | ||
| - | - | 274,179 | 274,179 | 250,413 | ||
| _ | ______ | _ | _ | _ | ||
| Current Assets | ||||||
| Debtors | 9 | 12,499 | - | - | 12,499 | 13,283 |
| Cash at Bank | (51,749) | 18,113 | 111,829 | 78,193 | 81,739 | |
| _ | ______ | _ | _ | _ | ||
| (39,250) | 18,113 | 111,829 | 90,692 | 95,022 | ||
| _ | ______ | _ | _ | _ | ||
| Current Liabilities | ||||||
| Creditors: amounts falling due | ||||||
| within one year | 10 | 3,785 | 9,025 | - | 12,810 | 22,066 |
| _ | ______ | __ | _ | _ | ||
| 3,785 | 9,025 | - | 12,810 | 22,066 | ||
| _ | ______ | __ | _ | _ | ||
| Net Current Assets | (43,035) | 9,088 | 386,008 | 77,882 | 72,956 | |
| _ | _ | __ | __ | __ | ||
| Net Assets | £ (43,035) | £9,088 | £386,008 | £352,061 | £323,369 | |
| _ | _ | __ | __ | __ | ||
| Represented by: | ||||||
| Unrestricted Funds | (142,601) | - | - | (142,601) | (144,679) | |
| Designated Funds | 2 | 99,566 | - | - | 99,566 | 106,511 |
| Restricted Funds | 3 | - | 9,088 | - | 9,088 | 8,964 |
| Custodian Trustees | - | - | 386,008 | 386,008 | 352,573 | |
| _ | ______ | _ | _ | _ | ||
| £ (43,035) | £9,088 | £386,008 | £352,061 | £323,369 | ||
| _ | ______ | _ | _ | _ |
Approved by the PCC on
and signed on their behalf by:
…………………………………. …………………………………. Chair Churchwarden
Page 3 of 11
PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY ELTHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 DECEMBER 2023
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 accrual’s 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.
- The movements in designated funds during the year were:
| Bal b/fwd | Receipts | Payments | Transfer | Bal c/fwd | |
|---|---|---|---|---|---|
| Flat 59a | 7,825 | - | - | - | 7,825 |
| Flat 59b | 78,701 | 1,289 | (8,234) | - | 71,756 |
| Flower Fund | 2,890 | - | - | - | 2,890 |
| Candle Fund | 337 | - | - | - | 337 |
| Andrews Place Fund | 16,758 | - | - | - | 16,758 |
| _ | ______ | ______ | _ | _ | |
| 106,511 | 1,289 | (8,234) | - | 99,566 | |
| ______ | ______ | ______ | _ | _ |
Page 4 of 11
PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY ELTHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 DECEMBER 2023
- 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 | 2,802 | 887 | (887) | - | 2,802 |
| Insurance Claim | 430 | - | - | - | 430 |
| Altar Cloths | 51 | - | - | - | 51 |
| Church Art Fund | 3,695 | - | - | - | 3,695 |
| Vestments Fund | 992 | - | - | - | 992 |
| Parish Office Grant | 274 | - | - | - | 274 |
| Open Doors (Syria Refugees) | 55 | - | (55) | - | - |
| Ukraine | 305 | 223 | (305) | - | 223 |
| Nalini Tree | - | 1,821 | (1,560) | - | 261 |
| Uden’s Christmas Tree | - | 225 | (225) | - | - |
| _ | ______ | ______ | _ | _ | |
| 8,964 | 3,156 | (3,032) | - | 9,088 | |
| _ | ______ | ______ | _ | _ |
Page 5 of 11
PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY ELTHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 DECEMBER 2023
INCOMING RESOURCES
4a Collections and Other Giving
| a Collections and Other Giving |
|||||
|---|---|---|---|---|---|
| Unrestricted | Restricte | Custodian | Total | Total | |
| Funds | d Funds | Trustees | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Collections (Open Plate) | 6,736 | - | - | 6,736 | 4,806 |
| Sundry Donations | 2,366 | 2,269 | - | 4,635 | 11,396 |
| Legacies | 50,000 | - | - | 50,000 | 5,384 |
| ______ | ______ | ______ | ______ | ______ | |
| 59,102 | 2,269 | - | 61,371 | 21,586 | |
| ______ | ______ | ______ | ______ | ______ |
4b Activities for Generating Funds
| b Activities for Generating |
Funds | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricte | Custodian | Total | Total | |
| Funds | d Funds | Trustees | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Parish Magazine | - | - | - | - | - |
| Tea & coffee | 695 | - | - | 695 | 652 |
| ______ | ______ | ______ | ______ | ______ | |
| 695 | - | - | 695 | 652 | |
| ______ | ______ | ______ | ______ | ______ |
| 4c | Receipts from Church Activities | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricte | Custodian | Total | Total | ||
| Funds | d Funds | Trustees | 2023 | 2022 | ||
| £ | £ | £ | £ | £ | ||
| Church Hall Lettings | 18,174 | - | - | 18,174 | 12,531 | |
| Fees | 298 | 887 | - | 1,185 | 5,162 | |
| ______ | ______ | ______ | ______ | ______ | ||
| 18,472 | 887 | - | 19,359 | 17,693 | ||
| ______ | ______ | ______ | ______ | ______ | ||
| 4d | Investment Income | |||||
| Unrestricted | Restricte | Custodian | Total | Total | ||
| Funds | d Funds | Trustees | 2023 | 2022 | ||
| £ | £ | £ | £ | £ | ||
| Dividends | - | - | 7,494 | 7,494 | 7,453 | |
| CBF | Deposit Fund Interest | 195 | - | 2,175 | 2,370 | 754 |
| Rental Income | 1,289 | - | - | 1,289 | 8,700 | |
| ______ | ______ | ______ | ______ | ______ | ||
| 1,484 | - | 9,669 | 11,153 | 16,907 | ||
| ______ | ______ | ______ | ______ | ______ |
Page 6 of 11
PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY ELTHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 DECEMBER 2023
INCOMING RESOURCES (Cont’d)
| 4e Other Income |
|||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Custodian | Total | Total | |
| Funds | Funds | Trustees | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Insurance Claims | - | - | - | - | - |
| Parish Retreat | - | - | - | - | - |
| ______ | ______ | ______ | ______ | ______ | |
| - | - | - | - | - | |
| ______ | ______ | ______ | ______ | ______ | |
| RESOURCES EXPENDED | |||||
| 5a Church Activities |
|||||
| Unrestricted | Restricted | Custodian | Total | Total | |
| Funds | Funds | Trustees | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Ministry & Charitable Giving | |||||
| - Home |
918 | 2,145 | - | 3,063 | 5,457 |
| - Overseas |
225 | - | - | 225 | 887 |
| Other Ministry Costs | 1,713 | - | - | 1,713 | 1,243 |
| Church Running & Maintenance | 28,889 | - | 28,889 | 18,902 | |
| Church Hall | 3,239 | - | - | 3,239 | 3,001 |
| Cost of Services | 2,160 | - | - | 2,160 | 2,600 |
| Funeral Expenses & Memorials | 261 | - | - | 261 | 628 |
| Fees payable to Diocese | - | 887 | - | 887 | 1,933 |
| Postage & Stationery | 2,385 | - | - | 2,385 | 2,353 |
| Subscriptions | - | - | - | - | 160 |
| Telephone | 1,815 | - | - | 1,815 | 1,201 |
| Hospitality | - | - | - | - | 303 |
| Sundries | - | - | - | - | 232 |
| Depreciation of Equipment | - | - | - | - | - |
| _ | _ | _ | _ | _ | |
| 41,605 | 3,032 | - | 44,637 | 38,900 | |
| _ | _ | _ | _ | _ |
Page 7 of 11
PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY ELTHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 DECEMBER 2023
RESOURCES EXPENDED (Cont’d)
| 5b | Fundraising | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Custodian | Total | Total | ||
| Funds | Funds | Trustees | 2023 | 2022 | ||
| £ | £ | £ | £ | £ | ||
| Tea & Coffee | 48 | - | - | 48 | 68 | |
| Maintenance of Rental Properties | 8,234 | - | - | 8,234 | 581 | |
| _ | _ | _ | _ | _ | ||
| 8,282 | - | - | 8,282 | 649 | ||
| _ | _ | _ | _ | _ | ||
| 5c | Governance Costs | |||||
| Unrestricted | Restricted | Custodian | Total | Total | ||
| Funds | Funds | Trustees | 2023 | 2022 | ||
| £ | £ | £ | £ | £ | ||
| Insurance | 7,363 | - | - | 7,363 | 7,110 | |
| Bank Charges | - | - | - | - | - | |
| Independent Examination Fee | 500 | - | - | 500 | 500 | |
| _ | _ | _ | _ | _ | ||
| 7,863 | - | - | 7,863 | 7,610 | ||
| _ | _ | _ | _ | _ | ||
| 6 | STAFF WAGES | |||||
| Unrestricted | Restricted | Custodian | Total | Total | ||
| Funds | Funds | Trustees | 2023 | 2022 | ||
| £ | £ | £ | £ | £ | ||
| Wages & Salaries | 5,399 | - | - | 5,399 | 5,601 | |
| _ | _ | _ | _ | _ | ||
| 5,399 | - | - | 5,399 | 5,601 | ||
| _ | _ | _ | _ | _ |
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.
Page 8 of 11
PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY ELTHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 DECEMBER 2023
| 7 | TANGIBLE ASSETS | |||||
|---|---|---|---|---|---|---|
| Total | Total | |||||
| 2023 | 2022 | |||||
| Office | Office | |||||
| Equipment | Equipment | |||||
| £ | £ | |||||
| COST | ||||||
| As at 01.01.2023 | 3,136 | 3,136 | ||||
| _ | _ | |||||
| As at 31.12.2023 | 3,136 | 3,136 | ||||
| _ | _ | |||||
| DEPRECIATION | ||||||
| As at 01.01.2023 | 3,136 | 2,352 | ||||
| Charge for the year | - | 784 | ||||
| _ | _ | |||||
| As at 31.12.2023 | 3,136 | 3,136 | ||||
| _ | _ | |||||
| NET BOOK VALUE | ||||||
| As at 31.12.2023 | - | - | ||||
| _ | _ | |||||
| 8 | INVESTMENTS | |||||
| The PCC hold 12,128.96 shares in the CBF Investment Fund. | ||||||
| Total | Total | |||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| MARKET VALUE | ||||||
| As at 01.01.2023 | 250,413 | 283,656 | ||||
| Revaluation gain/(loss) | 23,766 | (33,243) | ||||
| _ | _ | |||||
| As at 31.12.2023 | 274,179 | 250,413 | ||||
| _ | _ | |||||
| 9 | DEBTORS | |||||
| Unrestricted | Restricted | Custodian | Total | Total | ||
| Funds | Funds | Trustees | 2023 | 2022 | ||
| £ | £ | £ | £ | £ | ||
| Tax Recoverable | 12,499 | - | - | 12,499 | 13,283 | |
| Prepayments | - | - | - | - | - | |
| Other Debtors | - | - | - | - | - | |
| _ | _ | _ | _ | _ | ||
| 12,499 | - | - | 12,499 | 13,283 | ||
| _ | _ | _ | _ | _ |
Page 9 of 11
PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY ELTHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 DECEMBER 2023
| 10 | CREDITORS | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Custodian | Total | Total | ||
| Funds | Funds | Trustees | 2023 | 2022 | ||
| £ | £ | £ | £ | £ | ||
| Accruals | 3,785 | - | - | 3,785 | 2,513 | |
| Other Creditors | - | 9,025 | - | 9,025 | 19,553 | |
| _ | _ | _ | _ | _ | ||
| 3,785 | 9,025 | - | 12,810 | 22,066 | ||
| _ | _ | _ | _ | _ |
Page 10 of 11
INDEPENDENT EXAMINER’S REPORT TO THE PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY ELTHAM ON THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
This report on the financial statements of the PCC for the year to 31 December 2023, 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: May 2024
Page 11 of 11