***** ## **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