**REGISTERED CHARITY NUMBER: 1132480**
**REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 FOR**
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY**
TC East Midlands Limited 99 Chapel Street Ibstock LE67 6HF
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
||Page|
|---|---|
|Report of the Trustees|1 to 5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Cash Flow Statement|9|
|Notes to the Financial Statements|10 to 20|
## **THE PAROCHIAL CHURCH COUNCIL OF THE**
## **ECCLESIASTICAL PARISH OF MELTON MOWBRAY**
## **REPORT OF THE TRUSTEES**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
## **OBJECTIVES AND ACTIVITIES**
## **Aims and purposes**
The ecclesiastical parish of Melton Mowbray’s Parochial Church Council (PCC) has the responsibility of co-operating with the Acting Team Rector of the Parish, the Reverend Dr Mary Barr, in promoting the whole mission locally of the Church of England in pastoral, evangelistic, social and ecumenical matters. The Rector, Reverend Kevin Ashby, retired at the end of May 2022, and we have been told that there would be a 12 to 18 months vacancy. The Archdeacon contacted PCC at the end of 2022 and started the replacement process.
The PCC is also specifically responsible for the maintenance of five churches in the parish (St Mary, Freeby is now maintained by the Churches Conservation Trust) and associated buildings, in particular Mary’s Place and Thorpe Arnold Village Hall. It is also responsible for the maintenance of 3 Church Terrace, Melton Mowbray which is let and managed by Belvoir Lettings on behalf of St Mary's Church, Melton Mowbray.
## **Mission Statement**
As a parish we are committed to:
- Bringing people to a knowledge of God
- Providing spiritual and pastoral commitment within the Parish and the wider community
- Being open to all in sharing the mission of Jesus
- Worshipping together in the churches of our Parish.
## **Activities**
The PCC has the responsibility of co-operating with the incumbents in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical.
## **ACHIEVEMENT AND PERFORMANCE**
The PCC met a number of times during the year (mainly online due to the pandemic), including the Annual Meeting.
A number of faculties were considered.
St Mary, Melton Mowbray.
Once again, some of the plans for the year were side-lined because of the Covid pandemic, although we are gradually getting back to normal.
The Church was only open when the law allowed, and Covid restrictions were followed for the safety of “staff” plus congregation.
A Christmas Tree Festival was held and the monthly Saturday Morning @ St Mary’s re-started.
The weekly Tiny Tots Service restarted live.
The Lent course was offered online again
The “Contact Scheme” helped us to keep in touch with and provide support for folk who were feeling isolated or were afraid or unable to go out.
Online services also helped to keep the “family of the church” together, as did the WhatsApp Group, with a prayer to begin and end the day and “conversation” in between.
The CIO and FEG group’s plans for the “New Build” (for choir, meetings and archive facilities) continued, and a number of pieces of liturgical furniture and furnishings (including vestments) appeared, funded by donations.
Page 1
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY**
## **REPORT OF THE TRUSTEES**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **ACHIEVEMENT AND PERFORMANCE** _**(continued)**_
## The Centre / Mary’s Place.
It has been a difficult year for The Centre (previously Mary’s Place) from a financial point of view. The severe and unforeseen increases in energy prices and rises in the cost of repairs and maintenance have all hit hard.
The cafe was leased to Ai Kitchen on an eighteen month lease, Barclays Bank booked Room1 as a ‘hub’ for three days a week and Osprey Estate Agents have taken up what was the coffee lounge as a self-contained office.
Room hire charges have had to be increased by 10%. It was decided to rename Mary’s Place as ‘The Centre’ to give the building a different identity from the frontage of Ai Kitchen and Ospreys.
Linda, the Centre manager, continues, with the Centre’s management group, to work hard in building up the use of the building in its entirety and thus secure its future.
## St James’ Burton Lazars
St James had a full programme of weekly Sunday Services through 2022 and we have celebrated all the seasonal services. We had the privilege of baptising 5 children under the age of 4 years and marrying 2 couples. Sadly we had 5 funeral services and a further 2 committals in the grave yard.
The congregation is almost back up to strength. The Stay and Play in term time is a joy as we lose the older children to preschool and welcome more babies. The fortnightly Coffee mornings are becoming a ‘must’ for many people as relationships strengthen. ‘Light up Lazars’ was a great celebration again with the Church’s Christmas Tree, and the east end of the south aisle turned into a stable where children dressed up and had photos taken with the manger. The congregation have diligently supplied Storehouse with groceries for those in need and have again sent many shoeboxes to Eastern Europe through the Teams 4 You charity. Our link with Christians in Albania has also allowed us to send support for some of the poorest people in that country, and to set up a Centre in one of the Villages for prayer and study.
## St Mary the Virgin, Thorpe Arnold
In 2022 we appreciated returning to weekly Sunday morning services with almost everyone staying for coffee using our new tables. In 2022 there were six weddings, six baptisms and one thanksgiving. We held a special service for all those who had died during the pandemic. We celebrated the Queen’s Platinum Jubilee and in September we mourned the late Queen.
The toddler group met weekly in the hall, with young children able to socialise once again. Families met monthly at Fresh Expressions of Church led by the Pioneer Minister. The church was full for the Nine Lessons and Carols led by the gathered choir.
We operate as a team; everyone helps to support each other and the community, with visits to those unable to attend and a weekly email update.
The bell ringers ring weekly, for weddings and national occasions. The building needs constant maintenance. Repairs to the porch and path were completed. The quinquennial report acknowledged achievements whilst highlighting work to be done including new lighting and heating. Our Village Hall, managed by a team from church and village, had a busy year with increased bookings from community groups and regular church/village events.
## St Bartholomew’s, Welby
St Bartholomew’s Church continued to nurture the small, mainly elderly, congregation with regular services at 3.00pm on the first and third Sundays of each month. These included special services for Easter, the Patronal Festival in August, Harvest in September, the annual Service of Loving Remembrance in November and Christmas. This year we hosted two weddings and a baptism. An Open Day was held in December when visitors were invited to view the beautifully decorated medieval church. The DCC members continue to look after the Church Building and Churchyard. Three new trees were planted to replace two mature trees which had been previously felled due to disease. New stackable chairs were delivered and are now in use
## St Leonard's, Sysonby
2022 was a more encouraging year for St Leonard's with the resumption of our regular services, including Easter, Summer Songs of Praise, Harvest Festival, Loving Remembrance and our ever-popular Christmas Eve Carol service which as ever saw a full house.
On the fundraising side, a coffee morning in the church combined with a tombola and craft stall raised a magnificent £500. Throughout the year the DCC met regularly to help keep our wonderful little church up and running.
## St Mary, Freeby
The Churches Conservation Trust is not satisfied that services can safely be held within the church building, due to the hazards caused by the very significant bat population and ensuing mess. The ’sharing agreement’ with the URC for joint use of the Chapel was ended by mutual agreement when the URC felt that maintaining and using the building was no longer sustainable. Therefore, it is no longer possible to hold services in the hamlet of Freeby. St Mary's Churchyard is still open for burials, and is cared for locally.
Page 2
**THE PAROCHIAL CHURCH COUNCIL OF THE**
## **ECCLESIASTICAL PARISH OF MELTON MOWBRAY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
## **FINANCIAL REVIEW**
## **Financial review**
Total receipts on unrestricted funds were £244,289 and restricted funds receipts totalled £29,645. The total income of the PCC was £273,934.
The net result for the year was a decrease in funds of £128,053, being a loss of £119,601 on general funds and a loss of £8,452 on restricted funds.
## **Principal Sources of Funding**
The ongoing principal source of funding for the parish is through encouraging use of the planned giving scheme and ensuring that gift aid is claimed on donations wherever possible. The giving is reviewed regularly with supporters encouraged to review their level of giving. The Parish Giving Scheme has been operated by Thorpe Arnold Church since 2016.
## **Investment policy and objectives**
Within the parish, the main financial investments are held by St Mary's, Melton Mowbray. It has a policy of investing most of its assets in products managed by the Central Board of Finance of the Church of England. This in turn has its own investment policy in terms of ethical investment, social policy, environmental issues and risk taking which therefore operates for St Mary's and the parish.
## **Reserves policy**
The reserves policy is that the balances on the account are held to balance needs between years and to meet any unplanned demands.
The PCC funds rely on receiving regular contributions from the parish churches to meet its expenditure. The churches each have their own general funds which are to be used for that location.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, an approved governing document issued by the Church of England adopted 23 July 2008.
## **Members and committees**
The method of appointment of PCC members is set out in the Church Representation Rules. All Church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC.
## **Standing Committee:**
This meets to prepare the agenda for the PCC and has power to transact the business of the PCC in emergencies between its meetings, subject to any directions given by the PCC. Membership consists of the PCC Chairman, Team Vicar, all Churchwardens, Treasurer and Secretary.
Treasurers Meeting:
This consists of the PCC Chairman and Treasurer, Team Vicar, plus the treasurers from each Church.
Melton Mowbray Team Parish is constituted as follows:
St Mary's, Melton Mowbray
St Mary the Virgin, Thorpe Arnold
St James', Burton Lazars
St Mary's, Freeby - the Church is under the control of the Historic Churches Trust.
St Leonard's, Sysonby
St Bartholomew's, Welby
Each church (except Freeby) has an elected District Church Council and elected district churchwardens.
The churchwardens of St Mary’s Parish Church, Melton Mowbray are officially the parish churchwardens.
Page 3
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY**
## **REPORT OF THE TRUSTEES**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **FINANCIAL REVIEW** _**(continued)**_
Each District Church Council elects members to the Parochial Church Council.
All Church attendees are invited to register on the Parish Electoral Roll and stand for election to the PCC of the Team Parish &/or the DCC's of the individual churches.
## **Responsibilities of the PCC Members**
The PCC Members (who are also trustees of The Parochial Church Council of the Ecclesiastical Parish of Melton Mowbray for the purposes of charity law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP 2015 (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of its governing document. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the Parochial Church Council on 25[th] May 2023 and signed on its behalf by:
............................................. Revd Dr Mary Barr Trustee, Acting Team Rector and Team Vicar
Melton Mowbray Team Parish
Page 4
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**Registered Charity number** 1132480 **Principal address** The Parish Office, 8 Burton Road, Melton Mowbray, Leicestershire, LE13 1AE
## **Members of the PCC – 2022**
|**Members of the PCC – 2022**||
|---|---|
|**Clergy**||
|Team Rector|Revd. Kevin Ashby (to May)|
|Acting Team Rector|Revd Dr Mary Barr (from June)|
|Team Vicar|Revd Dr Mary Barr (to May)|
|Assistant Clergy|Revd Graham Spencer|
||Revd Brian McAvoy|
|Pioneer Ministers|Janet King|
||Carol Parker|
|Readers|Ted Hutchin|
||Linda Pearson|
|Pastoral Assistants|Audrey Hutchin|
||Lorraine Simmonds|
||Jacqui Wilson|
|**Churchwardens**||
|Parish & St Mary's, Melton|Brenda Munton and Ian Neale|
|Thorpe Arnold|Tricia Lynott (to May), Catherine Shenton (from May) and Joy|
||Stribblehill (from May)|
|Burton Lazars|Jenny Pengelly and Janet King|
|Sysonby|Colin Moulds and David Wilford|
|Welby|Peter Franklin and Colin Beavis|
|**Lay Representatives elected according to the Church Representation Scheme:**||
|Melton Mowbray (4)|Dina Neale, Roger Kirby, Phil Balding (to May), Helen May (from|
||May) and Helen Peacock (from November)|
|Thorpe Arnold (2)|Carol Parker, Helen Dickinson|
|Burton Lazars (2)|John Lloyd, Sue Karran|
|Freeby (1)|Jane Meakin|
|Welby (1)|Gillian Beavis|
|Sysonby (1)|Jennifer Miller|
|**Deanery Synod Representatives**|Audrey Hutchin, Keith Wilson, Jacqui Wilson, Julia Hinde and|
||Catherine Shenton|
|**Appointed Officers**||
|PCC Vice Chair|Ian Neale|
|PCC Secretary|Helen Peacock (to November) and Peter Stribblehill (from|
||November)|
|PCC Treasurer|Michael Osborne|
|Electoral Roll Officer|Brenda Munton|
## **Independent examiner**
TC East Midlands Limited, 99 Chapel Street, Ibstock, Leicestershire, LE67 6HF
## **Solicitors**
Latham & Co., Charnwood House, 2 Forest Road, Loughborough LE11 3NP
## **Bankers**
HSBC, 17 High Street, Melton Mowbray, LE13 0TY They act for St Mary's Melton Mowbray and the PCC and so are the main banker for the charity.
Page 5
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY**
I report to the charity trustees on my examination of the accounts of The Parochial Church Council of Melton Mowbray (the Church) for the year ended 31 July 2022.
## **Responsibilities and basis of report**
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘The Act’).
I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 and in carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner’s statement**
Since the Church’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
- a) Accounting records were not kept in the respect of the Church as required by section 130 of the 2011 Act; or
- b) The accounts do not accord with those records; or
- c) The accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or
- d) The accounts have been prepared in accordance with the methods and principle of the statement of recommended practice for accounting and reporting charities.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
**J. Dennis ACA For and on behalf of** TC Group 99 Chapel Street Ibstock Leicestershire LE67 6HF
Dated: / / 2023
The notes form part of these financial statements
Page 6
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Voluntary income, donations and legacies
2
130,275
Activities for generating funds
3
72,443
Income from charitable activities
4
16,170
Investment income
5
25,401
**Total**
244,289
**EXPENDITURE ON**
Raising funds
6
12,070
**Charitable activities**
Church activities
7
280,797
**Total**
292,867
**NET INCOME/(EXPENDITURE) BEFORE**
**INVESTMENT GAINS**
(48,578)
Net gains/(losses) on investments
(70,523)
**NET INCOME/(EXPENDITURE)**
(119,101)
**Transfers between funds**
(500)
**Net movement in funds**
(119,601)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
858,349
**Adjustment**
(99)
**TOTAL FUNDS CARRIED FORWARD**
738,649|2022
2021
Restricted
funds
Total funds
Total funds
£
£
£
19,043
149,318
212,847
10,543
82,986
51,753
-
16,170
14,448
59
25,460
24,789
29,645
273,934
303,837
519
12,589
17,548
38,078
318,875
296,055
38,597
331,464
313,603
(8,952)
(57,530)
(9,766)
-
(70,523)
75,266
(8,952)
(128,053)
65,500
500
-
-
(8,452)
(128,053)
65,500
1,212,678
2,071,027
2,001,954
(2,981)
(3,080)
3,573
1,201,245
1,939,894
2,071,027|
|---|---|
## **CONTINUING OPERATIONS**
All income and expenditure has arisen from continuing activities.
Page 7
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY**
## **BALANCE SHEET AT 31 DECEMBER 2022**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
14
-
Investments
15
561,011
561,011
**CURRENT ASSETS**
Stocks
16
-
Debtors
17
19,447
Cash at bank
194,291
213,738
**CREDITORS**
Amounts falling due within one year
18
(36,100)
**NET CURRENT ASSETS**
177,638
**TOTAL ASSETS LESS CURRENT LIABILITIES**
738,649
**NET ASSETS**
738,649
**FUNDS**
19
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|2022
2021
Restricted
funds
Total funds
Total funds
£
£
£
1,077,210
1,077,210
1,086,155
-
561,011
631,534
1,077,210
1,638,221
1,717,689
-
-
354
13,127
32,574
27,427
116,547
310,838
378,384
129,674
343,412
406,165
(5,639)
(41,739)
(52,827)
124,035
301,673
353,338
1,201,245
1,939,894
2,071,027
1,201,245
1,939,894
2,071,027
738,649
858,349
1,201,245
1,212,678
1,939,894
2,071,027|
|---|---|
The financial statements were approved by the Parochial Church Council on 25[th] May 2023 and were signed on its behalf by:
............................................. Trustee
Page 8
## **THE PAROCHIAL CHURCH COUNCIL OF THE**
## **ECCLESIASTICAL PARISH OF MELTON MOWBRAY**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022**
|||2022|2021|
|---|---|---|---|
||Notes|£|£|
|**Cash flows from operating activities:**||||
|Cash generated from operations|i|(88,957)|(30,744)|
|**Net cash provided by (used in) operating**||||
|**activities**||(88,957)|(30,774)|
|**Cash flows from investing activities:**||||
|Sale of fixed asset investments||-|-|
|Purchase of tangible fixed assets||-|-|
|Interest received||92|24|
|Dividends received||21,319|20,392|
|**Net cash provided by (used in) investing**||||
|**activities**||21,411|10,358|
|**Net cash inflow/(outflow)**||21,411
|10,358|
|**Change in cash and cash equivalents in the**||||
|**reporting period**||21,411|10,358|
|**Cash and cash equivalents at the beginning of**||||
|**the reporting period**||418,817|408,459|
|**Cash and cash equivalents at the end of the**||||
|**reporting period**||440,228|418,817|
|**i.**
**RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES**||||
|||2022|2021|
|||£|£|
|**Net income/(expenditure) for the reporting period (as per the**||||
|**statement of financial activities)**||(131,133)|64,843|
|**Adjustments for:**||||
|Depreciation charges||8,945|8,945|
|Interest received||(92)|(24)|
|Dividends received||(21,319)|(20,392)|
|Unrealised (gains)/losses on investments||70,523|(75,266)|
|(Increase)/decrease in stocks||354|467|
|(Increase)/decrease in debtors||(5,147)|450|
|(Decrease)/increase in creditors||(11,088)|(9,797)|
|**Net cash provided by (used in) operating activities**||_(88,957)|(30,774)|
Page 9
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the Parochial Church Council of the ecclesiastical parish of Melton Mowbray (PCC) have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCC’s, and with the Regulations “true and fair view” provisions. The financial statements have been prepared in accordance with the Financial Reporting Standard Applicable in the UK and the Republic of Ireland (FRS 102 version 2016) as the applicable accounting standards and 2016 version of Accounting and Reporting by Charities: Statement of Recommended Practice (SORP(FRS102)).
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value..
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC.
## **Tangible fixed assets**
(i) Consecrated property and moveable church furnishings Consecrated and beneficed property is not included in the accounts in accordance with Section 96(2)(a) of the Charities Act 1993. Moveable church furnishings held before 2008 has no value placed on it in these accounts. Furniture acquired since that date has been capitalised and depreciated in the accounts over five years.
(ii) Other fixtures, fittings and office equipment
Equipment acquired will be depreciated over the estimated useful life of the asset on a straight line basis. Individual items with a purchase price of £1000 or less are written off when the asset is acquired.
(iii) Investments
Investments are valued at market value on 31 December.
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds represent the funds of the Parochial Church Council (PCC) that are not subject to any restrictions regarding their use. Designated funds are also general funds but are subject to the directions of the District Church Councils. Restricted funds are subject to particular constraints regarding their use.
## **Fund accounting**
Restricted funds are income funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the church for particular purposes. Details of the funds held and restrictions provided are shown in note 19 to the accounts.
## **Current assets**
Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less a provision for amounts that are considered to be uncollectable.
Short term deposits include cash held on deposit either with the CBF Church of England Funds or at a bank.
Page 10
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022**
## **2. VOLUNTARY INCOME, DONATIONS AND LEGACIES**
|130,275
Unrestricted
funds
£
Gift aid donations
78,485
Gift aid tax recoverable
20,054
Legacies
-
Grants
8,766
Non gift aid collections
8,727
Non gift aid donations
10,982
Sundry income
3,261
**3.**
**ACTIVITIES FOR GENERATING FUNDS**
72,443
Unrestricted
funds
£
Fundraising events
37,241
Catering
756
Lettings
33,331
Sales
1,115
**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
16,170
Unrestricted
funds
£
Fees
16,170
**5.**
**INVESTMENT INCOME**
25,401
Unrestricted
funds
£
Rents received
4,049
Dividends
21,352
Deposit account interest
-|19,043
Restricted
funds
£
-
489
-
2,468
12,811
2,578
697
10,543
Restricted
funds
£
3,904
-
6,266
373
-
Restricted
funds
£
-
59
Restricted
funds
£
-
-
59|149,318
2022
£
78,485
20,543
-
11,234
21,538
13,560
3,958
82,986
2022
£
41,145
756
39,597
1,488
16,170
2022
£
16,170
25,460
2022
£
4,049
21,352
59|212,847
2021
£
77,735
20,346
-
73,394
15,639
18,225
7,508
51,753
2021
£
24,135
12,263
14,945
410
14,448
2021
£
14,448
24,789
2021
£
4,373
20,392
24|
|---|---|---|---|
Page 11
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022**
## **6. EXPENDITURE ON RAISING FUNDS**
|12,070
519
12,589
Unrestricted
funds
Restricted
funds
2022
£
£
£
Staff costs
-
-
-
Cost of sales
429
-
429
Fundraising events
3,369
519
3,888
Samworth Centre
8,272
-
8,272
Property management fees
-
-
-
**CHARITABLE ACTIVITIES COSTS**
Church activities
286,804
16,343
15,728
Direct costs
(see note 10)
Grant funding
of activities
(see note 8)
Support costs
(see note 9)
£
£
£|2021
£
-
165
3,164
14,219
-|
|---|---|
||17,548|
||318,875
Totals
£|
## **7. CHARITABLE ACTIVITIES COSTS**
## **8. GRANTS PAYABLE**
The total grants paid to institutions during the year was as follows:
|5,300
Unrestricted
funds
£
Grants relief agencies
5,300
**SUPPORT COSTS**
15,650
Unrestricted
funds
£
Independent examiners remuneration
4,914
Postage and stationery
4,793
Accountancy and legal fees
5,327
Bank charges
616
Advertising
-|11,043
Restricted
funds
£
11,043
78
Restricted
funds
£
-
-
-
78
-|16,343
2022
£
16,343
15,728
2022
£
4,914
4,793
5,327
694
-|2021
£
9,731|
|---|---|---|---|
||||9,731|
||||2021
£
4,260
3,868
2,065
5
-|
||||10,198|
## **9. SUPPORT COSTS**
Page 12
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022**
## **10. DIRECT COSTS**
|259,847
Unrestricted
funds
£
Wages
32,093
Diocesan contribution
105,779
Clergy expenses
12,333
Utility costs and insurance
53,381
Repairs & Maintenance
39,587
Major repairs
-
Furniture
-
Depreciation
-
Other direct costs
16,674|26,957
Restricted
funds
£
515
-
-
1,862
386
5,748
2,958
8,945
6,543|286,804
2022
£
32,608
105,779
12,333
55,243
39,973
5,748
2,958
8,945
23,217|2021
£
32,930
102,350
10,879
39,666
37,794
15,471
2,958
9,406
24,672|
|---|---|---|---|
||||276,126|
## **11. TRUSTEES' REMUNERATION AND BENEFITS**
The trustees who make up the Parochial Church Council are considered to be the Key Management Personnel. There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021 for their work as trustees.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
## **12. STAFF COSTS**
|Wages and salaries
The average monthly number of employees during the year was:|2022
£
32,608
2022
8|2021
£
32,930
2021
11|
|---|---|---|
||||
No employees received emoluments in excess of £60,000.
Page 13
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY**
## **NOTES TO THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022**
## **13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Voluntary income, donations and legacies
172,133
Activities for generating funds
46,900
Income from charitable activities
14,448
Investment income
24,781
**Total**
258,262
**EXPENDITURE ON**
Raising funds
17,007
**Charitable activities**
Church activities
247,630
**Total**
264,637
Net gains/(losses) on investments
75,266
**NET INCOME/(EXPENDITURE)**
68,891
Transfers between funds
-
**Net movement in funds**
68,891
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
786,458
**Previous year adjustment**
3,000
**TOTAL FUNDS CARRIED FORWARD**
858,349|Restricted
funds
Total funds
£
£
40,714
212,847
4,853
51,753
-
14,448
8
24,789
45,575
303,837
541
17,548
48,425
296,055
48,966
313,603
-
75,266
(3,391)
65,500
-
-
(3,391)
65,500
1,215,496
2,001,954
573
3,573
1,212,678
2,071,027|
|---|---|
Page 14
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022**
|**14.**
**TANGIBLE FIXED ASSETS**
3 Church
Terrace
£
**COST**
At 1 January 2022
156,000
Revaluations
-
Additions
-
Disposals
-
At 31 December 2022
156,000
**DEPRECIATION**
At 1 January 2022
-
Charge for year
-
Charge on disposals
At 31 December 2022
-
**NET BOOK VALUE**
At 31 December 2022
156,000
At 31 December 2021
156,000
**15.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 January 2022
Disposals
Revaluations
At 31 December 2022
**NET BOOK VALUE**
At 31 December 2022
At 31 December 2021
**16.**
**STOCKS**
Stocks
**17.**
**DEBTORS**
Amounts falling due within one year:
Taxes recoverable
Other debtors
Prepayments and accrued income|Samworth
Centre
Thorpe Arnold
Hall
Furniture and
equipment
£
£
£
863,082
165,224
14,159
-
-
-
-
-
-
-
-
-
863,082
165,224
14,159
-
99,095
13,215
-
8,261
684
-
107,356
13,899
863,082
57,868
260
863,082
66,129
944
2022
£
-
32,574
2022
£
5,210
10,453
16,911|Totals
£
1,198,465
-
-
-
1,198,465
112,310
8,945
121,255
1,077,210
1,086,155
CBF
investment
funds
£
631,534
-
(70,523)
561,011
561,011
631,534
2021
£
354
27,427
2021
£
6,950
20,477|
|---|---|---|
Page 15
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022**
## **18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Accruals
Other creditors|41,739
2022
£
29,595
12,144|52,827
2021
£
50,670
2,157|
|---|---|---|
## **19. MOVEMENT IN FUNDS**
|**Unrestricted funds**
Burton Lazars: St James
Freeby: St Mary's
Melton Mowbray: St Mary's
Sysonby: St Leonard's
Thorpe Arnold: St Mary The Virgin
Welby: St Bartholemew's
Centre general
**Restricted funds**
Melton Mowbray: St Mary's
Thorpe Arnold: St Mary The Virgin - Village
hall
Thorpe Arnold: St Mary The Virgin - Bread
Fund
Thorpe Arnold: St Mary The Virgin - Building/
organ fund
Welby: St Bartholemew's - fabric fund
Education and youth fund
Centre restricted
Burton Lazars building cost reserve
Welby: St Bartholemew's – 50-50 Club
**TOTAL FUNDS**|At 1.1.22
Net movement
in funds
Transfers
between funds
£
£
£
18,222
(338)
-
4,405
(602)
-
785,165
(98,217)
-
12,222
(216)
-
13,596
880
-
6,380
495
(500)
18,359
(21,202)
-
858,349
(119,200)
(500)
212,054
3,270
-
89,503
(8,016)
(2,200)
1,239
(190)
-
8,871
(4,704)
2,200
9,036
(2,948)
1,139
6,976
1
-
867,253
1
-
17,107
-
-
639
653
(639)
1,212,678
(11,933)
500
2,071,027
(131,133)
-|At 31.12.22
£
17,884
3,803
686,948
12,006
14,476
6,375
(2,843)
738,649
215,324
79,287
1,049
6,367
7,227
6,977
867,254
17,107
653
1,201,245
1,939,894|
|---|---|---|
Page 16
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022**
## **20. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Burton Lazars: St James
Freeby: St Mary's
Melton Mowbray: St Mary's
Sysonby: St Leonard's
Thorpe Arnold: St Mary The Virgin
Welby: St Bartholemew's
Centre general
**Restricted funds**
Melton Mowbray: St Mary's
Thorpe Arnold: St Mary The Virgin - Village
hall
Thorpe Arnold: St Mary The Virgin – Bread
fund
Thorpe Arnold: St Mary The Virgin - Building/
organ fund
Welby: St Bartholemew's - fabric fund
Education and youth fund
Centre restricted
Burton Lazars building cost reserve
Welby: St Bartholemew's – 50-50 Club
**TOTAL FUNDS**|Incoming
resources
£
15,857
29,923
6
129,074
1,771
23,103
6,971
37,584
244,289
18,579
8,991
330
377
396
1
1
-
970
29,645
273,934|Resources
expended
£
(15,857)
(30,261)
(608)
(156,768)
(1,987)
(22,223)
(6,476)
(58,786)
(292,966)
(15,309)
(17,007)
(520)
(2,100)
(3,344)
-
-
-
(317)
(38,597)
(331,563)|Gains and
losses
Movement in
funds
£
£
-
-
-
(338)
-
(602)
(70,523)
(98,217)
-
(216)
-
880
-
495
-
(21,202)
(70,523)
(119,200)
-
3,270
-
(8,016)
(190)
-
(1,723)
-
(2,948)
-
1
-
1
-
-
-
653
-
(8,952)
(70,523)
(128,152)|
|---|---|---|---|
Page 17
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022**
## **21. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Comparatives for movement in funds**|||||
|---|---|---|---|---|
|||Net movement|Transfers||
||At 1.1.21|in funds|between funds|At 31.12.21|
||£|£|£|£|
|**Unrestricted Funds**|||||
|Burton Lazars: St James|13,575|4,647|-|18,222|
|Freeby: St Mary's|4,721|(316)|
-|4,405|
|Melton Mowbray: St Mary's|722,027|43,138|-|765,165|
|Sysonby: St Leonard's|14,506|(2,284)|
-|12,222|
|Thorpe Arnold: St Mary The Virgin|10,849|2,747|-|13,596|
|Welby: St Bartholemew's|6,033|2,279|-|8,312|
|Samworth Centre general|14,747|3,612|-|18,359|
||786,458|53,823|
-|840,281|
|**Restricted Funds**|||||
|Melton Mowbray: St Mary's|199,588|12,466|-|212,054|
|Thorpe Arnold: St Mary The Virgin - Village|||||
|hall|98,258|(8,755)|
-|89,503|
|Thorpe Arnold: St Mary The Virgin – Bread|||||
|fund|861|378|-|1,239|
|Thorpe Arnold: St Mary The Virgin - Building/|||||
|organ fund|12,371|(3,500)|
-|8,871|
|Welby: St Bartholemew's - fabric fund|11,610|(2,574)|
-|9,036|
|Education and youth fund|6,976|-|-|6,976|
|Samworth Centre restricted|867,253|-|-|867,253|
|Burton Lazars building cost reserve|18,127|(1,020)|
-|17,107|
|Welby: St Bartholemew's - project fund|452|187|-|639|
||1,215,496|(2,357)|
-|1,212,678|
|**TOTAL FUNDS**|2,001,954|51,466|
-|2,052,959|
||||||
Page 18
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022**
## **22. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Burton Lazars: St James
Freeby: St Mary's
Melton Mowbray: St Mary's
Sysonby: St Leonard's
Thorpe Arnold: St Mary The Virgin
Welby: St Bartholemew's
Samworth Centre general
**Restricted funds**
Melton Mowbray: St Mary's
Thorpe Arnold: St Mary The Virgin - Village
hall
Thorpe Arnold: St Mary The Virgin – Bread
fund
Thorpe Arnold: St Mary The Virgin - Building/
organ fund
Welby: St Bartholemew's - fabric fund
Education and youth fund
Samworth Centre restricted
Burton Lazars building cost reserve
Welby: St Bartholemew's - project fund
**TOTAL FUNDS**|Incoming
resources
£
14,171
26,854
679
133,981
75
23,106
6,487
52,909
258,262
34,529
3,141
730
3,467
2,726
-
-
-
982
45,575
303,837|Resources
expended
£
(14,171)
(22,207)
(995)
(149,109)
(2,359)
(20,359)
(6,140)
(49,297)
(264,637)
(22,063)
(12,260)
(560)
(6,968)
(5,752)
-
-
(1,020)
(343)
(48,966)
(313,142)|Gains and
losses
**Movement in**
**funds**
£
**£**
-
-
-
4,647
-
(316)
75,266
60,138
-
(2,284)
-
2,747
-
347
-
3,612
75,266
68,891
-
12,466
-
-
(9,119)
170
-
(3,501)
-
(3,026)
-
-
-
-
-
(1,020)
-
639
-
(3,391)
75,266
65,500
|
|---|---|---|---|
## **23. RELATED PARTY DISCLOSURES**
The Parochial Church Council is a related party of St Mary’s Church Melton Mowbray Development CIO by virtue of common trustee control. St Mary’s Church Melton Mowbray Development CIO exists to advance the Christian faith by the preservation, repair, maintenance, restoration and improvement of the fabric of St Mary’s Church Melton Mowbray as a place of Christian worship.
Page 19
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022**
## **24. FUNDS**
## **Parish Funds:**
The Samworth Development Fund is to be spent on the development and upkeep of the Samworth Centre. The Education and youth fund is to be spent on education within the parish.
## **Burton Lazars Funds:**
The Burton funds are for the refurbishment of the church building and the Squire’s Monument.
## **Melton Mowbray Funds:**
Some investments are held in the name of Leicester Diocesan Board of Finance as custodian trustee, entitled Church Chimes, Free-Will Offering, Sunday School and Church Institute, Assistant Clergy, Choir, Organists and Curates Funds. All income from these funds goes to the General Fund whose aims include those of these funds. It is intended to transfer the title.
The Music Fund has income to be spent on music within the church
The Organ Fund has income to be spent on the upkeep of the church organ.
The St Mary's Church Trust has income to be spent on the upkeep of the church
## **Thorpe Arnold Funds:**
The Village Hall Fund is to be spent on running, upkeep, maintenance and obligations of the Village Hall The Bread Fund is to be spent in supporting work with children
The Building / Organ Fund is to be spent on maintaining the fabric of the building and organ.
## **Welby Funds:**
The fabric fund is for use on the upkeep of the fabric of the church.
## **Unrestricted Funds:**
Unrestricted funds of each church relate to individual church general funds, available only for use relating to that church. The PCC and individual churches also designate other funds under their control to be used for purposes which are evident from their titles. These funds are occasionally reviewed to ensure that they are still required for their purpose. Where these funds are in deficit, this relates to unpaid diocesan share, a debt which the diocese accepts will be paid when funds allow.
Page 20