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2022-12-31-accounts

28/01/23

Parochial Church Council

of St. Andrew & St. Mary the Virgin

FLETCHING

FINANCIAL STATEMENTS for the year ended 31ST DECEMBER 2022

Registered Charity number: 1132321

Parochial Church Council of

St. Andrew & St. Mary the Virgin, FLETCHING

FINANCIAL STATEMENTS

CONTENTS

for the year ended 31st December 2022

Page
Statement of Financial Activities F1
Balance Sheet F2
Notes to the Financial Statements F3 - F7
Independent Examiner's Report F8

FLETCHING PAROCHIAL CHURCH COUNCIL

STATEMENT OF FINANCIAL ACTIVITIES

For the year ended 31st December 2022

Notes
INCOMING RESOURCES
Voluntary Income
Gift Aided Covenants & Collections (inc PGS)
Legacies
Friends of Fletching Church
Income tax recoverable on gift aid
Non Gift Aid Envelopes and CAF
Collections at services
VAT Rebate
Grants
West End rent
Other Income
Events & Donations
Note 4
Activities for Generating Funds
Other fund-raising events
Charitable and trading income (Tea Fund)
Church Funds - Boxes
Magazines
Note 6
Fees
Guide Books
Candles
Website (Donation less Expense)
Other Income (Sale of Candle Sticks)
Investments Income
Bank and Deposit Account interest
TOTAL INCOMING RESOURCES
RESOURCES USED
Vicarage - Water, Community Charge etc.
Other expenses for the Ministry
Light, Heat and Water
Magazine
Note 6
Honoraria -Organist
Services & Materials
Note 5
Churchyard maintenance
Repairs & Alterations
Note 2
Diocesan Annual Contribution & Charges
Note 7
Insurance
Grants to Institutions
Note 3
Fundraising
Sunday School
Other Expense (Credit Check & Editors Gift)
Governance Costs
Independent Examination Fee
Note 8
Transfer between Reserves
TOTAL RESOURCES USED
Net (outgoing)/incoming resources for the year
Transfer between Reserves
Balance brought forward
Balance carried forward
Note 14		 Unrestricted Designated TOTAL FUNDS TOTAL FUNDS
General
Special
New Boiler
Building &
Reserve
Reserve
Repair		 2022 2021
£
£
£
£
38,411
0
0
13,160
3,550
7,574
8,562
7,500
1,545
0
1,983
10,000
6,500		 £
38,411
0
0
13,160
3,550
7,574
8,562
7,500
1,545
0
18,483		 £
31,954
0
18,313
9,636
3,525
3,686
4,339
4,100
240
0
27,001
66,222
0
10,000
22,562
98,784
0
0
0
521
521
4,224
4,224
1,250
1,250
117
117
72
72
0
0
30
30
1,467
1,467		 102,795
0
0
308
3,895
3,374
59
180
350
57
73,903
0
10,000
22,562		 106,465 111,018
4,226
320
4,936
0
2,455
1,624
405
9,150
56,148
26,362
3,246
1,438
1,268
240
206		 4,226
320
4,936
0
2,455
1,624
405
65,298
26,362
3,246
1,438
1,268
240
206		 6,019
148
4,395
0
2,000
1,634
1,233
13,200
25,243
3,007
995
527
0
0
55,876
0
0
56,148
473		 112,024
473
0		 58,401
440
0
56,349
0
0
56,148
17,554
0
10,000
(33,586)
47,378
30,000
10,000
37,706		 112,497
-6,032
125,084		 58,841
52,178
72,906
64,931
30,000
20,000
4,120		 119,051 125,084

F 1

FLETCHING PAROCHIAL CHURCH COUNCIL

BALANCE SHEET AS AT 31st DECEMBER 2022

Notes
£
£
£
£
FIXED ASSETS
Tangible Assets
Note 10
0
0
CURRENT ASSETS
Debtor (Insurance prepaid for 2023)
Note 11
3,613
3,246
Debtor (Tax Rebate - Gift Aid)
Note 11
6,904
4,500
Short term deposits
Note 12
94,340
72,873
Cash at bank
23,126
52,032
127,983
132,651
CURRENT LIABILITIES
Note 13
Amounts Falling due within one year:
Magazine Adverts (prepaid 2023)
3,135
6,092
Independent Examination
440
440
Gas & Electric
0
495
Tea & Cake Collection
997
540
FIG
2,860
0
Vicar's Discretionary Fund
1,500
8,932
7,567
NET CURRENT ASSETS
119,051
125,084
NET ASSETS
119,051
125,084
FUNDS
Unrestricted
Note 14
64,931
47,378
Designated
Note 14
54,120
77,706
119,051
125,084
2022
2021		 £
£
2022		 £
£
2022		 £
£
2021		 £
£
2021
125,084
119,051 125,084
64,931
54,120
47,378
77,706
119,051
125,084

The financial statements were approved by the Board of Trustees on .................................................... and were signed on its behalf by:

Rev. David Knight - Vicar

F 2

FLETCHING PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022

1 ACCOUNTING POLICIES Accounting Convention

The financial statements have been prepared under the historic cost basis, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.

Incoming Resources Voluntary Income

a) Collections are recognised when received by or on behalf of the PCC

b) Planned giving receivable under Gift Aid is recognised only when received.

c) Income Tax recoverable on Gift Aid donations is accounted for and is included in debtors on the accrual basis.

d) Grants and legacies to the PCC are accounted for when received.

e) Funds raised by a fete and similar events, and the magazine are accounted for gross but shown in the accounts as net

f) Sales of books and magazines from the church bookstall are accounted for net. Income from investments

Bank and deposit fund interest is accounted for when received.

Resources Expended

Grants

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC. Grants offerred subject to conditions which have not been met at the year end are noted as a commitment but not accrued as expenditure.

Activities directly relating to the work of the Church

The diocesan quota or parish share is accounted for when payable.

The Parish Contribution, as requested by DBF, for 2022 has been paid in full.

Remuneration

The Members have not received any remuneration.

Allocation of Expenditure

All expenditure has been classified as expenditure in direct furtherance of the PCC's objectives. Governance costs

Governance costs are costs that relate purely to the running of the church and include independent examination costs.

Grants

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC. Grants offerred subject to conditions which have not been met at the year end are noted as a commitment but not accrued as expenditure.

Tangible Fixed Assets

No new assets have been capitalised during 2022.

F 3

FLETCHING PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022

1 ACCOUNTING POLICIES - continued Taxation

The charity is exempt from tax on its charitable activities

Funds

General funds represent funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purpose of the PCC. Funds designated for a particular purpose by the PCC are also unresticted.

The accounts 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 their main affiliation to another body or those that are informal gatherings of Church members.

Current Assets

Churchyard

The gross expenditure for maintaining the churchyard in 2022 was £1,430 (2021 £1,983). This cost is shared with Fletching Parish Council and the accounts include reimbursement of £1,025 for 2021 (2020 £750)

F8

2
Repairs, Alterations and Equipment
Gas Boiler Service & Repair
Lighting Repairs
Organ Service & Repairs
Church Deep Clean
SumUp Terminal
WEB site development & hosting
Alarm Annual Fee
Fire Extingisher Inspection
Computer (Magazine Editor)
Notice Board
Electrical Repairs and Tests
Lighting Time Clock
Electrical PAT Test
Extension Cable
Sound System Repair
Flag
DVR for Organist
Display Boards
Repair to Lead Roof
Organ Report
Security Alarm Update
First Aid Training
Church Wall Repairs
Church Gutter Repairs
Boiler Specification
Architect Fees
Sundry		 £
General
360
338
1,279
775
76
1,037
216
204
379
108
837
648
96
35
9
46
132
369
246
480
701
779
9,150		 £
Building
20,960
29,041
540
5,607
56,148

F4

FLETCHING PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022

3 Grants Made

The total grants paid to institutions during the year was as follows:
SOS - Family Support Work
SOS - Embrace the Middle East
DEC - Ukraine Appeal
Harvest - Farm Africa
Harvest - The Princes Countryside Trust
British Legion
(Remembrance Day Collection)
Family Support Work (inc £607 from Organ Concert)
Family Support Work from Tea & Coffee Fund
TOTAL		 2022
2022
2021
Tea Fund
£
£
0
56
0
56
610
0
250
110
360
110
218
56
0
607
300
0
300
1,438
995

All grants made have been paid from donations made by congregations

4 Grants & Donations Received

Use of Organ
Display Board
Resol Concert
Gift from USA $500
Easyfundraising
Amazon
Village Fayre
Organ Tuning for Concert
Net Total		 390
300
20
428
132
11
302
400
1,983

5 Services & Materials

Total expense of £ 1,624 (20210 £ 1,634)

6 Magazine

The total Income from subscriptions and adverts totalled £ 11,316 set against a cost of £ 7,092 giving a surplus of £ 4,224 for the year (2021 £ 3,895 )

7 Parish Contribution & Insurance

The Parish Contribution for 2022 of £ 26,362 has been paid in full ( 2021 £25,243). Church insurance for 2022 was £ 3,246 (2021 £3,007)

8

Governance Costs 2022 2021
£ £
Independent Examination fee 440 440

9 Trustees' Remuneration and Benefits

There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2020.

The PCC has met expenses incurred by members for services provided to the charity by reimbursing the Vicar £ 276 (2021 £ 148) in total for travel, telephone and office expenses.

10 Tangible Fixed Assets

Cost
As at 01/01/18
Additions in 2020
Depreciation as at 31/12/18
Balance as at 31/12/20		 10,605
0
10,605
0

F5

FLETCHING PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022

11
Debtors(Amounts falling due within one year)
Insurance prepaid
Income Tax recoverable on Gift Aid
12
Current Asset Investments
Short Term Deposits -Opening Balance
Interest received
Net Transfers to/from Current Account
Closing Balance
13
Creditors (Amounts falling due within a year)
Magazine Adverts
Independent Examination Fee
Tea & Cake Café Fund
Gas
Vicar's Discrecancy Fund
14
Movement in Reserves (all unrestricted)
General Fund
Special Reserve Fund
Building & Repair Fund
Boiler Fund
TOTAL FUNDS		 2022
2021
3,613
3,246
6,904
4,500
10,517
7,746
2021
2021
£
£
72,873
52,816
1,467
57
74,340
52,873
20,000
20,000
94,340
72,873
2022
2021
£
£
3,135
6,092
440
440
997
540
0
495
1,500
0
2,860
0
8,932
7,567
As at
Incoming
Outgoing
Reserve
As at
01.01.22 Resources Resources Transfers
31.12.22
£
£
£
£
47,378
73,903
(56,349)
64,931
30,000
0
0
30,000
37,706
22,562
(56,148)
4,120
10,000
10,000
20,000
.
125,084
106,465 (112,497)
0
119,051

F6

FLETCHING PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022

15 The assets of the PCC are held in a number of funds, as follows:

General Fund (Unrestricted)

This fund is for the receipt of general income and expenditure to support the daily ministry and pastoral work of the Parish.

Ministry & Pastoral Fund (Designated)/Special reserve

This fund has been set-up to accumulate funds for the future funding of the Ministry and other support costs payable through the diocesan quota. This fund is not intended to be used until a full time/full stipend minister is appointed. Any use of this fund requires authorisation of the PCC. In 2006 the PCC gave authorisation for this fund to be changed into a Special reserve Fund to be used for emergencies or unexpected contingencies.

Building and Repair Fund (Designated)

This fund has been set up to finance larger building repair projects e.g. quinquennial, over and above those financed through general expenditure. Any use of this fund requires authorisation of the PCC.

Boiler Fund (Designated)

This fund has been set up to accumulate funds for the replacement of the church boiler.

Finance Initiative Group

Funds allocated for the use of start-up funding for the Finance Initiative Group

Vicar's Discretionary Fund

The fund records donations received and made specifically for the use of the vicar for social needs in the parish

16 Chancel Trust

The Chichester Diocesan Fund and Board of Finance holds on trust the Fletching Chancel Fund (for Chancel repairs). The accumulated income of this fund as at 31st December 2022 was £ 11,109 (2021 £11,109). The investment consists of CBF Investment Fund (Income) Shares and a Fixed Interest Securities Fund with a market value as at 31 December 2022 of £ 31,783 (2020 £27,806)

17 Other Financial Commitments

At 31 December 2022 the PCC had no other committments

F7