The Abbey and Parish Church
of
St. Peter and St. Paul Registered Charity in England and Wales No. 1132631
Financial Statements
Year ending 31 December 2022
Incumbent: Revd Fr.Chris Atkinson The Vicarage Church Walk Bourne Lincs
Bank: HSBC Bank PLC Stamford
Independent Examiner Hazel Bell 16 Great Northern Gardens Bourne PE10 9EH
Financial Review of Year 2022
The financial performance in 2022 showed some improvements although it was tempered by the impact of the ongoing Covid 19 Virus in the early part of the year and a rapidly rising inflation rate which reached 11.05% in October with an average of 7.3% for the year. A net gain in the General Fund of £5,803 helped to produce a small benefit in real terms.
The General Fund compared to 2021 showed an increase in Total Income of 4% and a Total Expenditure reduction of 11% leaving a surplus of £5,803 (deficit in 2021 was £4,361).
The share / quota payment plan of was set at £25,000 and was met in full. This level was calculated to enable a balanced budget to be set at the start of the year although it was significantly lower than the amount paid in 2021 (£31,899). Both years were well below the £55,000 required to meet the ministry cost of the Diocese and Parish.
Total Voluntary income of £59,143 was up on last year by 9.6%. The Social Committee donated £3000 (up from £2000 in 2021). Net Fees were down but some have been delayed. The Total Income of £66,591 was 4% higher than that achieved last year.
Total Expenditure at £60,788 was 11% lower than in 2021 mainly due to the reduced share payment. Heating Costs at £7,825 were impacted for the second half of the year by a kwh rate rise of 322% in June.
The Hall & Sunday School Fund had a surplus of ££3,076 (deficit of £5,066 in 2020). Income from Hall Lettings at £11,764 was up on last year by £8,176. Expenses at £8,790 were up £133 on 2021. The fund balance at the end of the year was £20,610 (£17,535 in 2021).
The Fabric Fund total income was £24,628 including two bequests and £88 of interest. Expenditure was £23,150 including a part payment on the new lighting system (£5.075), Flag Pole £1608, Lead roofing £14,472 and Consulting fees.(£465). The Fund total balance of £396,320 (£394.842 in 2021) is allocated to restricted accounts Restoration £293.139 and Fabric £80,927 and unrestricted account £22,254.
The Social Committee donated £3,000 to the PCC General Account.
The Bourne PCC Mahajanga Support Fund accounts summary is include in the appendix. This Fund is not incorporated into any Bourne PCC Funds and is limited solely to the purpose declared.
Accounting policies
The following statements have been prepared in accordance with the Church Accounting Regulations 2015 together with applicable accounting standards and the Charities SORP.
As the total of both income and expenditure as shown is in excess of £100,000 the Accounts have been prepared on an Income and Expenditure basis, making adjustments for sums due to the PCC and amounts owing by the PCC as at 31st December 2022.
No account has been taken of any increase or decrease in the value of investments in the preparation of the accounts. The value of the investments as notified by the CBF and the COIF is stated by way of note on the Balance Sheet. The PCC owns no material assets other than those shown by way of note on the Balance Sheet. These have not been valued as no sale is anticipated.
Due to the rounding of figures to the nearest whole £1 some of the columns may not appear to add up correctly. The notes referred to in the accounts and included at the end of the accounts are by way of information and do not form part of the statutory account s.
Page 2
Statement of Financial Activities
| Unrestricted RestrictedEndowment Total Prior funds **funds funds fundsyear ** |
Unrestricted RestrictedEndowment Total Prior funds **funds funds fundsyear ** |
|---|---|
| Incoming resources Incoming resources from generated funds Voluntary income Activities for generating funds Investment income Other incoming resources Total incoming resources Resources used Cost of generating funds Cost of generating voluntary income Fundraising trading cost of goods sold and other costs Charitable activities Other resources used Church Administration Total resources used Net income / (expenditure) Transfers Gross transfers between funds - in Gross transfers between funds - out Net income / (expenditure) Other recognised gains / losses Gains / losses on investment assets Gains on revaluation, fixed assets, charity's own use Net movement in funds Total funds brought forward Total funds carried forward Represented by Unrestricted General fund Designated Birthday Fund Choir Fund Clergy Expense Fund Dunbar Trust Fund Fabric Fund Flower Fund Hall & Sunday School Fund Organ Fund Social Committee Fund T M Baxter Fund Restricted Bell Fund Parish Clerk Fund Youth Club Fund |
298 75 — 372 162 83,811 — — 83,811 55,953 21,061 — — 21,061 9,341 2,713 — — 2,713 2,577 1,336 — — 1,336 5,448 |
| 109,218 75 — 109,293 73,482 1,350 — — 1,350 1,470 3,000 — — 3,000 2,000 — — — — 133 1,671 — — 1,671 5,395 92,078 — — 92,078 123,931 |
|
| 98,099 — — 98,099 132,929 |
|
| 11,119 75 — 11,193 (59,447) — — — — 10,000 — — — — (10,000) |
|
| 11,119 75 — 11,193 (59,447) — — — — 130,000 — — — — — |
|
| 11,119 75 — 11,193 70,553 |
|
| 449,244 11,488 — 460,732 390,179 |
|
| 460,362 11,563 — 471,925 460,732 22,859 — — 22,859 17,056 1,558 — — 1,558 1,556 426 — — 426 691 6,076 — — 6,076 6,076 2,176 — — 2,176 2,074 396,320 — — 396,320 394,842 1,456 — — 1,456 1,934 20,610 — — 20,610 17,535 5,732 — — 5,732 5,912 2,574 — — 2,574 1,026 573 — — 573 543 — 10,439 — 10,439 10,371 — 205 — 205 205 — 919 — 919 913 |
Page 3
Balance sheet
| Total funds Prior year funds |
|
|---|---|
| Fixed assets Investments Current assets Debtors Investments Cash at bank and in hand Net current assets less current liabilities Total assets less current liabilities Total net assets less liabilities Represented by Unrestricted General fund Designated Hall & Sunday School Fund Flower Fund Social Committee Fund Fabric Fund Clergy Expense Fund T M Baxter Fund Dunbar Trust Fund Birthday Fund Organ Fund Choir Fund Restricted Bell Fund Parish Clerk Fund Youth Club Fund Funds of the church |
350,000 350,000 |
| 350,000 350,000 2,000 2,000 3,921 3,921 116,004 104,811 |
|
| 121,925 110,732 |
|
| 121,925 110,732 |
|
| 471,925 460,732 |
|
| 471,925 460,732 22,859 17,056 20,610 17,535 1,456 1,934 2,574 1,026 396,320 394,842 6,076 6,076 573 543 2,176 2,074 1,558 1,556 5,732 5,912 426 691 10,439 10,371 205 205 919 913 |
|
| 471,925 460,732 |
The value of investments as at 31 December 2022 was as follows:
Browning Trust (Clergy Exp. Fund) 3703 CBF Invest. Shares 76,451 86,601 E.C. Dunbar Memorial Trust 161 Investment Shares 3,324 3,765 Thomas Moore Baxter Memorial Trust 57 COIF Shares 1,034 1,171 Fabric Fund CBF Investment Fund 6066.92 shares
Approved by the PCC on 2 February 2023
………………………………………………..
Chairman
Father Christopher Atkinson
………………………………………………... Treasurer Alan G Payne
Page 4
Statement of assets and liabilities
| General Designated Restricted Endowment This year **Last year ** |
|
|---|---|
| Fixed assets - Investments Fabric Fund Investment Shares Accumulati - Totals Current assets - Cash at bank and in hand General Current HSBC - General Deposit HSBC - Hall & Sunday School HSBC - Bell Deposit HSBC - Birthday Deposit HSBC - Choir Deposit HSBC - Dunbar Deposit HSBC - Fabric Deposit HSBC - Flower Deposit HSBC - Organ Deposit HSBC - Parish Clerk Deposit HSBC - General Deposit CBF - Sunday School Deposit CBF - Bell Deposit CBF - Birthday Deposit CBF - Choir Deposit CBF - Fabric Deposit CBF - Organ Deposit CBF - Thomas Moore Baxter Deposit Nat West - Parish Clerk Deposit CBF - Clergy Expenses Deposit CBF - Social Committee - Youth Club Deposit CBF - Totals Current assets - Debtors Accounts Receivable - Totals Current assets - Investments Clergy Expenses Investment COIF - Thomas Moore Baxter Investmnet COIF - Dunbar Trust CBF - Totals Grand total |
— 350,000 — — 350,000 350,000 |
| — 350,000 — — 350,000 350,000 20,786 — — — 20,786 14,983 32 — — — 32 32 — 14,360 — — 14,360 11,285 15 — 151 — 166 166 — 1,474 — — 1,474 1,472 — 424 — — 424 173 — 2,008 — — 2,008 1,906 — 45,820 — — 45,820 44,342 — 1,456 — — 1,456 1,934 — 2,422 — — 2,422 2,623 — — 0 — 0 0 25 — — — 25 25 — 6,250 — — 6,250 6,250 — — 10,288 — 10,288 10,220 — 84 — — 84 84 — 2 — — 2 519 — 500 — — 500 500 — 3,311 — — 3,311 3,289 — 523 — — 523 492 — — 205 — 205 205 — 2,373 — — 2,373 2,373 — 2,574 — — 2,574 1,026 — — 919 — 919 913 |
|
| 20,859 83,583 11,563 — 116,004 104,811 2,000 — — — 2,000 2,000 |
|
| 2,000 — — — 2,000 2,000 — 3,703 — — 3,703 3,703 — 57 — — 57 57 — 161 — — 161 161 |
|
| — 3,921 — — 3,921 3,921 |
|
| 22,859 437,504 11,563 — 471,925 460,732 |
Page 5
Receipts and Payments Account
This Year Prior Year
General - General fund (Unrestricted) Fund
| Receipts | ||
|---|---|---|
| Incoming resources from generated funds | ||
| Interest CBF | 2 | 0 |
| Total Incoming resources from generated funds | 2 | 0 |
| Voluntary income | ||
| Planned Giving NGA | 2,071 | 1,667 |
| Gift Aid | 33,620 | 31,762 |
| Cash Offerings | 6,400 | 2,800 |
| Baptisms, Weddings, Funerals, Homes | 2,177 | 419 |
| Donations | 4,421 | 3,896 |
| Income Tax Repayment | 10,454 | 12,221 |
| Special Collections Received | — | 133 |
| Funeral Collections (Contra) | — | 1,064 |
| Total Voluntary income | 59,143 | 53,963 |
| Activities for generating funds | ||
| Receipts from Social Committee | 3,000 | 2,000 |
| Magazine Advertising | 398 | 29 |
| Total Activities for generating funds | 3,398 | 2,029 |
| Investment income | ||
| Trust Income | 239 | 204 |
| Clergy Expense Fund Interest | 2,474 | 2,372 |
| Total Investment income | 2,713 | 2,577 |
| Other incoming resources | ||
| Parish Fees | (546) | 2,631 |
| Diocesan Fees | 1,882 | 2,818 |
| Total Other incoming resources | 1,336 | 5,448 |
| Total receipts | 66,591 | 64,018 |
| Payments | ||
| Charitable activities | ||
| Special Collections Paid | — | 133 |
| Total Charitable activities | — | 133 |
| Other resources used | ||
| Funeral Collections Contra Expend | — | 1,064 |
| Fees Contra Expend to 55 | — | 1,513 |
| Assigned Fees Expend contra to acc 070 | 1,671 | 2,818 |
| Total Other resources used | 1,671 | 5,395 |
| Church Administration | ||
| Diocesan & Deanery Share | 25,000 | 31,899 |
| Electricity | 757 | 864 |
| Heating | 7,825 | 5,203 |
| Cleaning & Sundry | 1,034 | 577 |
| Insurance | 7,689 | 7,254 |
| Church Services (Wine, Wafer, Candles) | 1,752 | 677 |
| Staff Costs | 5,056 | 5,056 |
| Other Repairs | 5,125 | 7,281 |
| Printing & Stationery | 1,538 | 2,360 |
| Clergy & Office Expenses | 3,342 | 1,679 |
| Total Church Administration | 59,117 | 62,851 |
| Total payments | 60,788 | 68,379 |
| Excess of Incoming resources over Resources used | 5,803 | (4,361) |
| Brought forward balance | 17,056 | 11,416 |
| Transfers to/(from) | — | 10,000 |
| Total carried forward balance | 22,859 | 17,056 |
Total Church Administration
Page 6
B-Hall - Hall & Sunday School Fund (Designated) Fund
Receipts
Incoming resources from generated funds
| Hall & SS Interest CBF Total Incoming resources from generated funds Voluntary income Hall & SS Donations & Grants Total Voluntary income Activities for generating funds Hall & SS Hire of Hall Total Activities for generating funds Total receipts Payments Church Administration Hall Electricity Hall Heating Hall Insurance Hall Water & Sewage Hall Repairs and Renewals Hall Caretaker & Opening Fees Hall Sundry Expenses Total Church Administration Total payments Excess of Incoming resources over Resources used Brought forward balance Total carried forward balance |
42 3 |
|---|---|
| 42 3 60 — |
|
| 60 — 11,764 3,588 |
|
| 11,764 3,588 |
|
| 11,866 3,591 641 807 685 687 626 588 555 516 608 517 5,560 5,530 116 11 |
|
| 8,790 8,657 |
|
| 8,790 8,657 |
|
| 3,076 (5,066) 17,535 22,601 |
|
| 20,610 17,535 |
Page 7
C-SocCom - Social Committee Fund (Designated) Fund
Receipts
| Incoming resources from generated funds Activities for generating funds Social Committee Events Social Committee 59 Club Receipts Total Activities for generating funds Total receipts Payments Cost of generating funds Cost of generating voluntary income Social Committee 59 Club Prizes Total Cost of generating voluntary income Fundraising trading cost of goods sold and other costs To PCC Account (transfer) Total Fundraising trading cost of goods sold and other costs Total payments Excess of Incoming resources over Resources used Brought forward balance Total carried forward balance - Fabric Fund (Designated) Fund Receipts Incoming resources from generated funds Fabric Interest CBF Fabric Interest HSBC Total Incoming resources from generated funds Voluntary income Fabric Donations Total Voluntary income Total receipts Payments Church Administration Fabric Repairs Fabric Quinquennial Repairs Fabric Architect Fees Total Church Administration Total payments Excess of Incoming resources over Resources used Brought forward balance Transfers to/(from) Gains & losses Total carried forward balance |
3,195 799 2,704 2,925 |
|---|---|
| 5,899 3,724 |
|
| 5,899 3,724 1,350 1,470 |
|
| 1,350 1,470 3,000 2,000 |
|
| 3,000 2,000 |
|
| 4,350 3,470 |
|
| 1,549 254 1,026 772 |
|
| 2,574 1,026 3 24 84 2 |
|
| 88 26 24,541 — |
|
| 24,541 — |
|
| 24,628 26 631 — 22,055 46,994 465 750 |
|
| 23,150 47,744 |
|
| 23,150 47,744 |
|
| 1,478 (47,718) 394,842 322,560 — (10,000) — 130,000 |
|
| 396,320 394,842 |
D-Fabric - Fabric Fund (Designated) Fund
Page 8
Brought forward balance
6,076 6,076 6,076 6,076
Total carried forward balance
E-ClergyEx - Clergy Expense Fund (Designated) Fund
F-BaxNWe - T M Baxter Fund (Designated) Fund
| Receipts Incoming resources from generated funds T M Baxter Interest Total Incoming resources from generated funds Total receipts Excess of Incoming resources over Resources used Brought forward balance Total carried forward balance |
31 30 |
|---|---|
| 31 30 |
|
| 31 30 |
|
| 31 30 543 512 |
|
| 573 543 |
G-Dunbar - Dunbar Trust Fund (Designated) Fund
Receipts
| Incoming resources from generated funds E C Dunbar Interest CBF E C Dunbar Interest HSBC Total Incoming resources from generated funds Total receipts Excess of Incoming resources over Resources used Brought forward balance Total carried forward balance |
99 96 3 0 |
|---|---|
| 102 96 |
|
| 102 96 |
|
| 102 96 2,074 1,978 |
|
| 2,176 2,074 |
H-Bell - Bell Fund (Restricted) Fund
Receipts
| Incoming resources from generated funds Bell Interest HSBC Bell Interest CBF Total Incoming resources from generated funds Total receipts Excess of Incoming resources over Resources used Brought forward balance Total carried forward balance |
0 — 68 4 |
|---|---|
| 68 4 |
|
| 68 4 |
|
| 68 4 10,371 10,367 |
|
| 10,439 10,371 |
Page 9
J-Birthday - Birthday Fund (Designated) Fund
Receipts
| Incoming resources from generated funds Birthday Interest HSBC Birthday Interest CBF Total Incoming resources from generated funds Voluntary income Birthday Donations Total Voluntary income Total receipts Payments Church Administration Birthday Payments Total Church Administration Total payments Excess of Incoming resources over Resources used Brought forward balance Total carried forward balance Organ Fund (Designated) Fund Receipts Incoming resources from generated funds Organ Interest HSBC Organ Interest CBF Total Incoming resources from generated funds Voluntary income Organ Donations incl Tutor Fees Total Voluntary income Total receipts Payments Church Administration Organ Repairs incl Piano Total Church Administration Total payments Excess of Incoming resources over Resources used Brought forward balance Total carried forward balance |
2 0 1 0 |
|---|---|
| 3 0 — 180 |
|
| — 180 |
|
| 3 180 — 1,440 |
|
| — 1,440 |
|
| — 1,440 |
|
| 3 (1,260) 1,556 2,815 |
|
| 1,558 1,556 4 0 22 1 |
|
| 26 2 — 1,760 |
|
| — 1,760 |
|
| 26 1,762 205 3,015 |
|
| 205 3,015 |
|
| 205 3,015 |
|
| (179) (1,253) 5,912 7,165 |
|
| 5,732 5,912 |
K-Organ - Organ Fund (Designated) Fund
Page 10
L-Choir - Choir Fund (Designated) Fund
Receipts
| Receipts | |
|---|---|
| Incoming resources from generated funds Choir Interest HSBC Choir Interest CBF Total Incoming resources from generated funds Total receipts Payments Church Administration Choir Music Materials Choir RSCM Fee Total Church Administration Total payments Excess of Incoming resources over Resources used Brought forward balance Total carried forward balance |
0 0 3 0 |
| 4 0 |
|
| 4 0 159 — 110 110 |
|
| 269 110 |
|
| 269 110 |
|
| (265) (110) 691 801 |
|
| 426 691 |
M-Flower - Flower Fund (Designated) Fund
Receipts
| Receipts | |
|---|---|
| Incoming resources from generated funds Flower Interest HSBC Total Incoming resources from generated funds Voluntary income Flower Donations Total Voluntary income Total receipts Payments Church Administration Cost of Flowers Total Church Administration Total payments Excess of Incoming resources over Resources used Brought forward balance Total carried forward balance |
2 0 |
| 2 0 67 50 |
|
| 67 50 |
|
| 69 50 547 114 |
|
| 547 114 |
|
| 547 114 |
|
| (478) (64) 1,934 1,998 |
|
| 1,456 1,934 |
Page 11
N-ParishCl - Parish Clerk Fund (Restricted) Fund
| Brought forward balance Total carried forward balance - Youth Club Fund (Restricted) Fund Receipts Incoming resources from generated funds Youth Club Interest CBF Total Incoming resources from generated funds Total receipts Excess of Incoming resources over Resources used Brought forward balance |
205 205 |
|---|---|
| 205 205 6 0 |
|
| 6 0 |
|
| 6 0 |
|
| 6 0 913 912 |
O-YClubC - Youth Club Fund (Restricted) Fund
Total carried forward balance 919 913
Page 12
Statement of Financial Aclivities Unrestrieted funds RestrietedEndoTvment funds funds Total lullds Prior Incoming resources Incoming resources from genw*ed fvnds Voluntsry income Adivities for generating fvnds Investment income Other inwming reSoUrS Totsl incoming resources 75 372 83.811 21,(1 2,713 1,336 109,293 162 55,953 9,341 2,577 83.811 21.(K1 2,713 1,336 109218 75 73.482 Resourees used Cost of geneiating fvnds Cost of genefats'ng voluntary inco Fundraising trading Cost of goods sold aThJ other costs Charttable acbwties Other resources us Church Administration Totsl resoureès used 1,350 3.000 1.470 2.000 133 5.395 123,931 132,929 1.671 92.078 1,671 92,078 98.099 Nèt income I lexpenditUTe) 11.119 75 11.193 159.4471 Transfers Gross transfers between ftJnds- in GTOSS transfers between funds- out Net income I lexpenditure) 10,OCM) 10,ffl0 {S9.4471 11.119 75 11,193 Other recognised gains I losses Gains I losses on investment assets Gains on revaluation, fixed assets. thanvs use Net movement in funds 130,LX)O 7S 11,193 70,553 Totsl fvnds brought forward 11,488 460.732 390.179 Total funds carri•d forward 460,362 11.563 471.925 460.732 Represented by Unresthcted General fund 22.859 22.859 17.056 Dèsignated Birthday Fund Choir Fund Clergy Expense Fund Dunbar Trust Fund Fabric Fund Flower Fund Hall & Sunday Sthool Fund Organ Fund Social Committee Fund T M Baxter Fund 1,558 426 6,076 2,176 396,320 1,456 20,610 5.732 2,574 573 1,556 691 6,076 2,074 394,842 1,934 17,535 5,912 1,026 543 426 6.076 2.176 3.320 20,610 5.n2 2,574 573 Restricted Bell Fund Parish Clerf( Fund Youth Club Fund 10.439 205 919 10,439 205 919 10,371 205 913 Page 3
Balance sheet Total funds Prior ear futtds Nxed assets Invesknents 350,000 3S0.000 350.000 350,000 CuTrTent assets Debtor5 Investsnents Cash at bank and in hand 2.000 3.921 116.004 121,925 3.921 104.811 110.732 Netcurrant assets lass current IbIlle$ 121.925 110.732 Total assets less currènt liabilitie5 471,925 460,732 Totsl rtet assets less liabilities 471,926 460,732 Represented by UnYestri¢ted General furKi 17.056 Dessgnated Hall & Sunday SchiKA FuthJ FlovEr Fund Social Comrnittee Fund Fabric Fund Cleoy Expense Fund T M Baxter Fund Dunbar Trust Fund Birthday Fund Organ Fund Cholr Fund 20.610 1,456 2.514 396,320 6,076 573 2.176 1.558 5.732 426 17.535 1.934 1.026 394.842 6.076 543 2,074 1.556 5,912 691 RestrKcted Bell Fund Pansh Clerk Fund Youth Club Fund 10.439 205 919 10,371 205 913 Funds of the church 471.925 460,n2 The value of investhents as at 31 Decemter 2022 was as folkms." Browning Trust Ickrgy Exp. Fund) 3703 CBF InvesL Sha E.C. Dunbar Memorial Tnjst 161 Investment Shares Tromas Moore 88Xter M8morial TFUSt 57 COIF Shares Fabi1¢ Fund CBF Investrnent Fund 8Q66.92 shares 76,451 ?7)? 1.034 321,596 86.601 3,765 1,171 353.843 Approveil by the PCC on 2 FelAWy 2023 Chaimwi Tr8a5urer Alat) G Pay Page 4
Independent Examiner's Report to the Bourne Parochial Church Council of The Parish & Abbey Church of St Peter and St Paul. I report on the accounts for the year ended 31SI December 2022 which are set out on the annexed pages_ Respective responsibilities of the Trustees and Independent Examiner The charity's trustees consider that an audtt is not required for this year under section 14412) of the Charities Act 2011 (the 2011 Acl) and that an independent examination is needed. It is my responsibilrty to. examine the accounts under section 145 of the 2011 Act- follow the procedures laid down in the General Directions given by the Charity Commissioners section 145(5)(b} of the 2011 Act, and state whether particular matters have come to my attention. Basis of Independent Examinerfs Statement My examination was carried out in accordance wtth the General Directions given by the Charity Commission. An exarnination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in Ihe accounts and seeking explanations from the management committee concerning any such matters. The procedures undertaken do nol provide all the evidence that would be required in a full audit, and consequently I do not express an audit opinion on the accounts. Independent Examiner's Statement In connection wf(h my examination, no matters have come to my attention.. which give me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with s.130 of the 2011 Act.. or to prepare accounts which accord with these accounting records have not teen met,. or 2. to which, in my opinion. attention should be drawn in order to enable a proper underslanding of the accounts to be reached. Hazel Bell. FCCA 16 Great Northern Gardens. Bourne Date". 11 r)& [£1ulA