Parochial Church Council
of
St. Andrew & St. Mary the Virgin
FLETCHING
FINANCIAL STATEMENTS for the year ended 31ST DECEMBER 2023
Registered Charity number: 1132321
Parochial Church Council of
St. Andrew & St. Mary the Virgin, FLETCHING
FINANCIAL STATEMENTS
CONTENTS
for the year ended 31st December 2023
| 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 2023
| 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 Church Funds - Boxes Magazines Note 6 Fees Guide Books Candles Other Income 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 Website Other Expense 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 Organ Sound System New Boiler Building & Reserve Reserve Reserve Reserve Repair |
2023 | 2022 | ||
| £ £ £ £ £ £ 36,159 0 0 5,000 9,191 1,914 6,504 797 21,555 10,000 365 0 4,786 5,000 1,906 |
£ 36,159 0 5,000 9,191 1,914 6,504 797 31,555 365 0 11,692 |
£ 38,411 0 0 13,160 3,550 7,574 8,562 7,500 1,545 0 18,483 |
||
| 58,919 0 5,000 1,906 21,555 15,797 0 0 365 4,371 2,025 76 73 0 5,854 |
103,177 0 365 4,371 2,025 76 73 0 5,854 |
98,785 0 0 521 4,224 1,250 117 72 30 1,467 |
||
| 71,682 0 5,000 1,906 21,555 15,797 |
115,940 | 106,466 | ||
| 5,533 306 10,788 0 2,120 2,405 -190 7,335 38,238 648 26,393 3,613 200 0 235 1,664 874 |
5,533 306 10,788 0 2,120 2,405 -190 46,221 26,393 3,613 200 0 235 1,664 874 |
4,226 320 4,936 0 2,455 1,624 405 65,298 26,362 3,246 1,438 1,268 240 206 |
||
| 61,275 0 0 0 38,238 648 752 |
100,161 752 0 |
112,024 473 0 |
||
| 62,027 0 0 0 38,238 648 9,655 0 5,000 1,906 (16,683) 15,149 (30,000) 30,000 (3,317) 3,317 64,931 30,000 0 0 20,000 4,120 |
100,913 15,027 119,051 |
112,497 -6,032 125,084 |
||
| £44,586 £60,000 £5,000 £1,906 £0 £22,586 |
£134,078 | £119,051 |
F 1
FLETCHING PAROCHIAL CHURCH COUNCIL
BALANCE SHEET AS AT 31st DECEMBER 2023
| Notes £ £ £ £ FIXED ASSETS Tangible Assets Note 10 0 0 CURRENT ASSETS Debtor (Insurance prepaid for 2024) Note 11 3,710 3,613 Debtor (Tax Rebate - Gift Aid) Note 11 4,625 6,904 Short term deposits Note 12 100,194 94,340 Cash at bank 36,858 23,126 145,387 127,983 CURRENT LIABILITIES Note 13 Amounts Falling due within one year: Magazine Adverts (prepaid 2024) 3,991 3,135 Independent Examination 720 440 Gas & Electric 0 0 Tea & Cake Collection 484 997 FIG 2,860 2,860 Vicar's Discretionary Fund 3,254 1,500 11,309 8,932 NET CURRENT ASSETS 134,078 119,051 NET ASSETS £134,078 £119,051 FUNDS Unrestricted Note 14 44,586 64,931 Designated Note 14 89,492 54,120 £134,078 £119,051 2023 2022 |
£ £ 2023 |
£ £ 2023 |
£ £ 2022 |
£ £ 2022 |
|---|---|---|---|---|
| 119,051 | ||||
| £134,078 | £119,051 | |||
| 44,586 89,492 |
||||
| 64,931 | ||||
| 54,120 | ||||
| £134,078 | ||||
| £119,051 |
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 2023
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 2023 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 2023.
F 3
FLETCHING PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023
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
-
a) Amounts owing to the PCC at 31 December in respect of fees or other income are shown as debtors
-
b) Short-term deposits consist of cash held on deposit with the CBF of the Church of England (CCLA) Deposit account. All investments are held within the UK.
-
c) Stocks of guide books, notelets and cards are expensed as purchased, and therefore any stocks at year end are not included in the accounts.
Churchyard
The gross expenditure for maintaining the churchyard in 2023 was £1,300 (2022 £1,430). This cost is shared with Fletching Parish Council and the accounts include reimbursement of £1,490 for 2022 (2021: £1,025).
2
| Repairs, Alterations and Equipment Churchyard Tree Work Lighting Repairs Organ Service & Repairs Portable Speaker Goodbox Terminal Lock Repair Alarm Annual Fee Fire Extingisher Inspection Computer Repair Green Bin Lampost Sign Lampost Painting Electrical PAT Test Toilet Repair Sound System Repair Repair to Water Tap Church Wall Weedkilling New Churchyard Lanters Wi-Fi Organ Report Screen and Candle Holder Repair Sundry Architect New Boiler System Installation New Platform for Boiler System VAT Reclaim |
£ General 780 79 1,360 274 438 65 764 224 60 50 82 409 96 114 160 114 45 1,624 20 360 130 9 7,257 |
£ Building 648 648 |
£ Boiler 1,165 38,883 5,874 -7,695 |
|---|---|---|---|
| 38,227 |
F4
FLETCHING PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023
3 Grants Made
The total grants paid to institutions during the year was as follows:
| The total grants paid to institutions during the year was as follows: Ukraine Carol Service (Generators) Harvest - Farm Africa Harvest - The Princes Countryside Trust British Legion (Remembrance Day Collection) Family Support Work from Tea & Coffee Fund TOTAL |
2023 2023 2022 Tea Fund £ £ 1,000 610 250 100 360 200 218 400 300 |
|---|---|
| 1,400 300 1,738 |
All grants made have been paid from donations made by congregations
4 Grants & Donations Received
| Use of Organ Individuals Donations Chromatics Fayre Easyfundraising Amazon Organ Tuning for Concert Net Total |
400 3,260 200 220 278 28 400 |
|---|---|
| 4,786 |
5 Services & Materials
Total expense of £ 2,639 (2022 £ 1,624)
These include a new alter cloth, music licence, service poster and confirmation bibles
6 Magazine
The total Income from subscriptions and adverts totalled £ 11,418 set against a cost of £ 7,046 giving a surplus of £ 4,372 for the year (2022 £ 4,224 )
7 Parish Contribution & Insurance
The Parish Contribution for 2023 of £ 26,393 has been paid in full ( 2022 £26,362). Church insurance for 2023 was £ 3,613 (2022 £3,246)
8
| Governance Costs | 2023 | 2022 |
|---|---|---|
| £ | £ | |
| Independent Examination fee | 675 | 440 |
9 Trustees' Remuneration and Benefits
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
The PCC has met expenses incurred by members for services provided to the charity by reimbursing the Vicar £ 847 (2022 £ 276) in total for service materials and office expenses.
10 Tangible Fixed Assets
| Cost As at 01/01/23 Additions Depreciation as at 31/12/18 Balance as at 31/12/23 |
10,605 0 10,605 |
|---|---|
| 0 |
F5
FLETCHING PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023
| 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 Vicar's Discrecancy Fund FIG 14 Movement in Reserves (all unrestricted) General Fund Special Reserve Fund Building & Repair Fund Organ Fund Sound System Fund Boiler Fund TOTAL FUNDS |
2023 2022 371 3,613 4,625 6,904 4,996 10,517 2023 2022 £ £ 94,340 72,873 5,854 1,467 100,194 74,340 20,000 100,194 94,340 2023 2022 £ £ 3,991 3,135 675 440 484 997 3,254 1,500 2,860 2,860 11,264 8,932 As at Incoming Outgoing Reserve As at 01.01.23 Resources Resources Transfers 31.12.23 £ £ £ £ 64,931 71,682 (62,027) -30000 44,586 30,000 0 0 30000 60,000 4,120 15,797 (648) 3317 22,586 0 5,000 0 5,000 0 1,906 0 1,906 20,000 21,555 (38,238) -3317 0 . |
|---|---|
| 119,051 115,940 (100,913) 0 134,078 |
F6
FLETCHING PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023
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. The boiler & heating sytem work has now been completed and the fund drawn down to zero
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
Sound System Fund
This fund has been set up to record funds for additions and replacements to the sound system.
Organ Repair Fund
This fund has been set up to record funds for the major overhaul of the organ.
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 2023 was £ 13,338 (2022 £12,098). The investment consists of CBF Investment Fund (Income) Shares and a Fixed Interest Securities Fund with a market value as at 31 December 2023 of £ 30.680 (2023 £28,041)
17 Other Financial Commitments
At 31 December 2023 the PCC had no other committments