BLANDFORD FORUM Accounts for the Parochial Church Council of the Parish of St Peter & St Paul. Blandford Forum Forthe yearended 31 December 2022 Parochial Church Council of the Parish of St Peter & St Paul. Blandford Forum Accountlng Policies The PCC Is a public benefit enttty within the meaning of FRS102. The flnancial statements have been prepared in accordance wlth the (haritie5 Act, 2011 followlng procedures laid down in the General Directions given by the Charity Commissioners under section 14515llbl of the Charittes Art, 2011. Under Sec￿on 144121 of thi5 Art an audit is not required for this year. The statements have been prepared also in accordance with Church Accounttng Regulattons on the accrual basls. They Include all transaction5. assets and liabilities for which the PCC is responsible by law. They do not include the accounts of any church groups that owe their affiliatEon to another body nor those that are informal gatherin8s of Church members. Any income received which exceeds the requlrements of the purposerfor whlch Itls ralsed or donated will be transferred to Church general funds lunrestrictedl. Thls Is the flrst ye•r that a new software a¢¢ountancy package was used (Expense Plus) which ha5 been speciflcally designed to provlde a more accurate cloud based financial position in real time. The reports generated at the end of this ststement are from the new system and are designed to ensure transparency of finan¢lal Informatton. Flnanclal Revlew Total recelpts on unrestrl¢ted funds were £291,658 of which £67,167 was unrestrl¢ted planned voluntary donattons. Grants. fundralslng and donations for the Restore project amounted to £750,235. Donations throu8h the Parish Glving kheme Increased from £1,386 per month to £2,206 and £535 was raised through the ¢ontartless device. A restrirted cash legacy of £110,790 w3S received during the year whieh was allocated towards the Heritage and Fabric Fund. Investment gains for funds held at the Dlocese amounted to £303.62. A total of £1,024,045 wa5 spent durlng the course of year of which £921.165 wag for the Restore project. Totsl net assets was É129,128 as at 31 December 2022 compared to £245,970 as at 31 December 2021. In so far a5 consecrated and benefice property of any kind is excluded from the ststutory definition of "charity" BY Section 1012) lal and 1¢) of the Charities Act 2011 such a55ets are not capttsli5ed in the linanci315tatements. shi These are capitalised at cost and deP￿CIated over their useful economic life other than where insufficient cost information Is available. In these cases, the Ttem is not capitalised but are Included thln the Church's inventory., These a￿ capitslised rf they n be used for more than one year, and cost at least £1,000. They are valued at cost. For 2022. we purchased the new PA and118hting system which cost £43,817 and thi5 IS recorded as an asset within the accounts. No depreclatton has been allocated for 2022 but will be for future years against thi5 asset. Depreciation is calculated to write off the capttalized cost of fixed assets less their currently anticlp*ed residual fair valu over thelr estimated useful Ilves. For the new PA and ligh￿n8 system is this over 10 years. No depreclation Is provlded n bulldlngs a5 currently estimated residual value of the proper￿e$ Is not less than their Garryin8 value and the remaining useful life of these assets •xcegd$ 50 years, so that any depreciation charges would be Immaterlal. Funds EndoY￿￿are funds. the capltal of whlch must be maintained,. only Income arisin8 from the Investment may be used ès restricted or unrestricted funds depending on the purpose for which the endowment wa5 estsblisled. This fund wa5 generated from the sale of Le51ey House. Blaid￿relate to income received for a sp￿1fiC objective. These funds can only be spent on the Specific purpose for which they are given. The PCC does not invest separately for each fund. Tht foll¢)win8 Restrirted Funds are held . HerltagelFabric Fund For s ecific Church Building Repalrs and Malntenance £26,381 Parish Centre Rel stothe running & upkeep of the Partsh Centre £7,272 Youth 5upwrt for Youth Work £416 Organ Rel to specffic work to the organ £527 Blandford Cares rarsed to SUPPOrt Blandford Car•$ £63 o*ll￿￿relate to funds earmarked for a deslgnated purpose such as the Parish Centre or Flowers but can also be used as unrestricted funds if required. The Community Kitchen Fund is a designated fund as is the Res ore Fund. The following are the designated funds held.. £4.933 Community Kitchen Herltage & Fabri¢ Fu £93.042 Flowers £509 Friend5 £5,805 Restore £10,361 Parish Centre 1£11.0781 Youth £3.271 the fund used by the PCC for PCC ordinary purposes. Unrestricted funds represent the flsnds of the PCC that are not subjert to any special re5trithons re8ardlng their Use. The fund stood èt £16.766 as at 31 December 2022. Income Resources Planned giving J collectfons arKI donatlons are recoen15ed and re￿IVed. fjrants and legacles are accounted for when the PCC is leEally entitled to the amounts due. Interest entitlements are accounted for as they accrue All in￿rne resour￿ are accounted for gross. Resources Used All expenditure is accounted r on an accrual basis and Is accounted for gross. The dlocesan parlsh contribution Isharel is accounted for when paid. Related party transactions and coundl member's remuneratlon No member of the council r eived any remunefatton for thelr work as trustees. No members of the PCC or ot er persons related to the PCC had any personal 5nterest in any contract or transac￿on entered Into b the PCC durin8 the year. Expendlture 50% of the Diocesan Parish Share amountln8 to £28,000 was pald and thls wa5 In Ilne wlth the budget set at the stsrt of the year. This leaves a balance due for 2022 and earlier years of £59,834. The Parish Share is the sum that the Churches in the Deanery have to flnd and Is shared between the Churches according to a formula that 15 based mainlv on a head count of thè con8ro84tions. The budget contribution for 2023 has been set at 75% of the contribution V￿ ought to make. Thls amounts to £45.000. No employee5 recelved emolumerrts of more than £60,000. The average number of employees durin8the year was two. Em loyee5 worked between 9 and 19 hours per week each. Reserves pollcy It is the PCC pollcy to malntai approximately six months un ttme to time. a balance on unrestrirted funds lif posslblel whlch equates to stricted payments to cover emergency situations that may arise from Parish Centre Total income from Lettir £12,264 19% down on bud8etl Total Expendvture £11.238 {13% higher than bud8etedl Thi5 meant a small profit of £1,026. However a vast majorrty of the stsffing costs have been met out of the general church funds rather than a proportion being allocated to the Parish Centre Fund. There has also been some major caprtal expenditure such as the pathway around the ￿ntre and the dishwasher which have not been induded within these figure5. Community Kitchen Total donation5 £1.221 Totsl expenditure £1.418 The Communlty Krtchen Fun as at 31 December 2022 stood at £4,933. Restore Donations £120,100 Fundralsln8 £1.045 Grants recelved £629,089 Total Incom• Totsl Restorntlon costs The Restore Fund as at 31 De mber 2022 stood at £10,361. 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