## **The Parochial Church Council of the Ecclesiastical Parish of Braintree St Michael's** ## _Charity registration 1132702_ Financial Statements for the year ended 31 December 2024 ## **Vicar** Revd. Nigel Adams St Michael's Vicarage 10a Marshalls Road Braintree, CM7 2LL ## **Bank** The Co-operative Bank PO Box 250 Skelmersdale, WN8 6WT ## **Independent examiner:** Ronald W Chivers & Co Accountants 61 Manor Street , Braintree, Essex CM7 3HP Page 1 ## _**St Michael's, Braintree PCC**_ ## **Information** Address St Michaels Lane, Braintree, Essex, CM7 1EY Website http://stmichaelsbtree.co.uk Email admin@stmichaelsbtree.co.uk ## **The Church Office address is:** St Michael's Church House St Michaels Lane Braintree CM7 1EY Telephone: 01376 321248 The Parish of St Michael Braintree in one of four which make up the town of Braintree & Bocking in North Essex. The population of St Michael's parish is approximately 15,696 St Michael's Church was founded and Braintree received its market charter in 1199. ## **Objects and Activities** ## **Mission Statement:** "To know Jesus and make Him known". St Michael's is a Gospel believing, Bible preaching Church with a concern for the wider community to which it belongs. We desire to grow as Christians by learning together from God's word. We long that more people of all ages will come to know and love Jesus, our risen Saviour and Lord. We trust that they will find a welcome in the family of Jesus as well as with the Church family of St Michael's. More specific information about our activities can be found in our parish profile, which is available on our website at www.stmichaelsbtree.co.uk ## **P.C.C. Members 2024-2025** ## **Appointed 21st May 2024** |**EX OFFICIO MEMBERS**
Nigel
Adams_(Vicar, Chairman)_
James
Wells (Curate)
Ade
Odupitan_(Churchwarden)_
David
Marriott_(Churchwarden)_
Cyril
Bamforth_(Deanery Synod)_|**Appointed PCC**
1 year from May 2024
1 year from May 2024
3 years from May 2023|**To Retire**| |---|---|---| |||2025
2025
2026| Page 2 of 15 |David|Huxter_(Deanery Synod)_|3 years from May 2023|2026| |---|---|---|---| |VACANCY FOR DEANERY SYNOD||3 years from May 2023|2026| |**ELECTED /**|**CO-OPTED MEMBERS**||| |Jo|Adams|Volunteer Pastoral Assistant|2025| |Rachel|Grove Smith|Co-opted as C&Y Worker|2025| |Margaret|Kinniburgh|3 years from May 2022|2025| |Peggy|Wills|3 years from May 2022|2025| |David|Birch|3 years from May 2023|2026| |Lesley|Davey RESIGNED IN JAN 25|3 years from May 2023|2026| |Adam|Grove Smith|3 years from May 2023|2026| |Rachel|Huxter|3 years from May 2023|2026| |Nick|Marsh|3 years from May 2023|2026| |Jennifer|Bailey|3 years from May 2024|2027| |Derek|Chapman|3 years from May 2024|2027| |Roger|Cooke|3 years from May 2024|2027| |Helen|Kemp|3 years from May 2024|2027| |Theresa|Lamkin|3 years from May 2024|2027| ## **NON-MEMBERS** Phil Bartlett-Rawling ( _Electoral Roll Officer)_ ## **Structure, Governance and Management** ## **Parochial Church Council (PCC)** The PCC is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure (1956) as amended and is a registered charity (Registered number 1132702) Membership of the PCC is constituted in accordance with the Church Representation Rules. Wardens are elected annually, Deanery Synod members triennially. One-third of elected members retire each year. The PCC may co-opt up to three members. Page 3 of 15 **Independent examiner’s report to the trustees of The Parochial Church Council (PCC) of the Ecclesiastical Parish of Braintree St Michael** Independent Examiner's Report to the Trustees of The Parochial Church Council (PCC) of the Ecclesiastical Parish of Braintree St Michael’s Church We report on the accounts of the charity _registration number 1132702_ for the year ended 31 December 2024. We report on the accounts of the charity registration number 1132702 for the year ended **Respective responsibilities of trustees and examiner** 31 December 2024. As the charity's trustees you are responsible for the preparation of the accounts; you consider that the audit requirement of Respective responsibilities of trustees and examiner section 144 of the Charities Act 2011 (the Charities Act) does not apply. It is our responsibility to state, on the basis of > procedures specified in the General Directions given by the Charity Commissioners under section 145(5)(b) of the Charities As the charity's trustees you are responsible for the preparation of the accounts; you consider Act, whether particular matters have come to our attention. that the audit requirement of section 144 of the Charities Act 2011 (the Charities Act) does ## **Basis of independent examiner's report** Basis of independent examiner's report Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. An Our examination was carried out in accordance with the General Directions given by the examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with Charity Commissioners. An examination includes a review of the accounting records kept by those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations the charity and a comparison of the accounts presented with those records. It also includes from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be consideration of any unusual items or disclosures in the accounts, and seeking explanations required in an audit, and consequently we do not express an audit opinion on the view given by the accounts. from you as trustees concerning any such matters. The procedures undertaken do not provide **Independent examiner's statement** Independent examiner's statement In connection with our examination, no matter has come to our attention: In connection with our examination, no matter has come to our attention: - (1) which gives us reasonable cause to believe that in any material respect the requirements (1) which gives us reasonable cause to believe that in any material respect the requirements - . to keep accounting records in accordance with section 130 of the Charities Act; and . to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the ; to keep accounting records in accordance with section 130 of the Charities Act; and Charities Act have not been met: or the accounting requirements of the Charities Act (2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. **RONALD W CHIVERS & CO** (2) to which, in our opinion, attention should be drawn in order to enable a proper **ACCOUNTANTS** understanding of the accounts to be reached. Rad Ws ChiwNeED © Cao RONALD W CHIVERS & CO 61 Manor Street ACCOUNTANTS Braintree Essex 61 Manor CM7 3HP Braintree Essex 23 April 2024 CM7 3HP Page 4 of 15 ## _**St Michael's, Braintree PCC**_ ## _**Financial statements for the year ended 31st December 2024**_ ## **Statement of Financial Activities (SOFA)** **----- Start of picture text -----**
Unrestricted Restricted Training & Total Funds Total Funds
Funds Funds Outreach 2024 2023
INCOME
Donations and Legacies £123,517.47 £14,594.50 £138,111.97 £132,536.97
Charitable Activities £45,014.06 £0.00 £45,014.06 £23,892.14
Investments £4,827.81 £349.60 £5,177.41 £6,052.12
Other £611.63 £611.63 £2,650.76
Total Income £173,970.97 £14,944.10 £0.00 £188,915.07 £165,131.99
EXPENDITURE
Charitable Activities £183,104.98 £20,583.83 £203,688.81 £172,414.58
Total Expenditure £183,104.98 £20,583.83 £0.00 £203,688.81 £172,414.58
Net Income(Expenditure) before Investment
(£9,134.01) (£5,639.73) £0.00 (£14,773.74) -£7,282.59
Gains
Net Gains (losses) on investments £3,269.63 £3,269.63 £12,313.57
NET INCOME/(EXPENDITURE) (£5,864.38) (£5,639.73) £0.00 (£11,504.11) £5,030.98
Transfers between funds £0.00 £0.00 £0.00 -£11,953.59
NET MOVEMENT IN FUNDS (£5,864.38) (£5,639.73) £0.00 (£11,504.11) -£6,922.61
Reconciliation of funds
Total funds brought forward £177,368.12 £193,182.34 £0.00 £370,550.46 £421,326.96
TOTAL FUNDS CARRIED FORWARD £171,503.74 £187,542.61 £0.00 £359,046.35 £414,404.35
**----- End of picture text -----**
_For full details see Notes_ _Note 1 Note 2 Note 3_ Page 5 of 15 ## _**St Michael's, Braintree PCC**_ ## _**Financial statements for the year ended 31st December 2024**_ ## **Balance Sheet** |**FIXED ASSETS**
_(see note 7)_
_(see note 8)_
**CURRENT ASSETS (A)**
_(see note 9)_
_(see note 10)_
_(see note 10)_
_(see note 10)_
**LIABILITIES (B)**
_(see note 11)_
**UNRESTRICTED FUNDS**
**RESTRICTED FUNDS**
**ENDOWMENT FUND**
**CLOSED FUNDS**|||**Total Funds 2024**|**_Total Funds_**
**_2023_**
_£177,727.64_
_£142,474.23_
**_£320,201.87_**
_£2,925.24_
_£4,994.53_
_£0.00_
_£108,670.60_
_£2,263.84_
**_£118,854.21_**
(£12,698.14)
**£106,156.07**| |---|---|---|---|---| ||Tangible Assets||£176,974.64|| ||Investments||£145,743.86|| ||**Total Fixed Assets**||**_£322,718.50_**|| |||||| ||Debtors||£534.00|| ||Prepayments and accrued income||£415.79|| ||Short Term Deposits||£0.00|| ||Cash at bank and in hand||£96,596.58|| ||Short Term Loan to Bell Ringers
**Total Current Assets**
Creditors - amounts falling due in one year||£2,263.84
**_£99,810.21_**
(£7,942.08)|| |||||| ||**Net Current Assets = (A) less (B)**||**£91,868.13**|| ||**TOTAL NET ASSETS**||**_£414,586.63_**|**_£426,357.94_**| ||**COMPRISING**
General Fund||£36,494.68|_£46,077.44_| ||Designated Fund: Capital Projects||£134,295.72|_£131,290.68_
**_£177,368.12_**
_£177,727.64_
_£22,054.85_
**_£199,782.49_**| ||**Total Unrestricted Funds**||**£170,790.40**|| |||||| ||Bartram Bible|||| ||Manna Fund|||| ||Property Fund
Youth Fund||£176,974.64
£17,616.87|| ||**Total Restricted Funds**||**£194,591.51**|| |||||| ||Training & Outreach Capital||£11,448.14|_£11,183.55_
**_£11,183.55_**
**£38,023.78**| ||**Total Endowment Fund**||**£11,448.14**|| ||Closed Funds held in Savings Account||**£37,756.58**|| ||**TOTAL PARISH FUNDS**||**£414,586.63**|**£426,357.94**| Page 6 of 15 ## _**St Michael's, Braintree PCC**_ ## _**Notes to Financial statements for the year ended 31st December 2024**_ ## **ACCOUNTING POLICIES** The PCC is a public entity within the meaning of FRS102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs and with the Regulations "true and fair view" provisions, together with FRS102 (2019a) as the applicable accounting standards and the 2019 version of the Statement of Recommended Practice - Accounting and Reporting by Charities (SORP)(FRS 102). The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which the PCC is responsible by law. They do not include the accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members. The PCC considers that there are no material uncertainties over their ability to continue as a going concern. ## **FUNDS** Endowment funds are funds, the capital of which must be maintained; only income arising from investments of the endowment may be used either as restricted or unrestricted funds depending on the purpose for which the endowment was established. Restricted funds represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of trust or bequest, and (b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund. Unrestricted funds are general funds which can be used for PCC ordinary purposes and designated funds are amounts set aside by the PCC for fixed assets or a future project. ## **INCOME** Planned giving, collections and donations are recognised when received. Tax recoverable is recognised when the income to which it relates is received. Grants and legacies are accounted for when the PCC is entitled to the amounts due. Dividends are accounted for when receivable, interest is accrued. All other income is recognised when it is receivable. All income is gross. The value of voluntary help received is not included in the accounts. ## **EXPENDITURE AND LIABILITIES** Liabilities are recognised as soon as there is a legal or constructive obligation and settlement is probable and quantifiable. Grants and donations are accountable for when paid over, or when awarded, if that creates a binding or constructive obligation on the PCC. The diocesan parish share is accounted for when due. All other expenditure is generally recognised when it is incurred and is accounted for gross. Unrestricted funds are general funds which can be used for PCC ordinary purposes and designated funds are amounts set aside by the PCC for fixed assets or a future project. Page 7 of 15 ## _**St Michael's, Braintree PCC**_ ## _**Notes to Financial statements for the year ended 31st December 2024**_ ## **FIXED ASSETS** Consecrated and benefice property is not included in the accounts in accordance with s.10(2)(a) of the Charities Act 2011. Movable church furnishing held by the vicar (priest in charge) and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the Church's inventory, which can be inspected (at any reasonable time). All expenditure incurred during the year on consecrated or benefice property and movable church furnishings, whether maintenance or improvement, is written off as expenditure in the financial statements. The Church House and Hall are stated at cost. No depreciation is provided as the depreciation charge and accumulated depreciation would not be material because residual value of the assets is at least as much as their carrying amount. The solar panels on the church hall roof are depreciated on a straight line basis over 20 years. Individual items of equipment with a purchase price of £10,000 or less are written off when the asset is acquired. Investments are stated at market value at 31 December each year. ## **CURRENT ASSETS** Short term deposits comprise cash held on deposit with the CBF Church of England Funds held by CCLA Page 8 of 15 ## **Church Workers Pension Fund (CWPF)** ## **Draft FRS102 Wording - December 2024 Year End** **EMPLOYER** participates in the Pension Builder Scheme section of CWPF for lay staff. CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of the Employer and other participating employers. CWPF has two sections: 1. the Defined Benefits Scheme 2. the Pension Builder Scheme, which has two subsections; - a. a deferred annuity section known as Pension Builder Classic, and, - b. a cash balance section known as Pension Builder 2014. ## **Pension Builder Scheme** Both sections of the Pension Builder Scheme are classed as defined benefit schemes. _**Pension Builder Classic**_ provides a pension, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending on investment returns and other factors. _**Pension Builder 2014**_ is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65. There is no sub-division of assets between employers in each section of the Pension Builder Scheme. The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are the contributions payable A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2022. For the Pension Builder Classic section, the valuation revealed a surplus of £34.8m on the ongoing assumptions used. At the most recent annual review effective 1 January 2025, the Board chose to grant a discretionary bonus of 6.7% to both pensions not yet in payment and pensions in payment in respect of service prior to April 1997; and a bonus on pensions in payment in respect of post April 2006 service so that the pension increase was 2.7% (where usually it would be calculated based on inflation up to 2.5%). This followed improvements in the funding position over 2024. There is no requirement for deficit payments at the current time. The next valuation is due as at 31 December 2025. Page 9 of 15 _**St Michael's, Braintree PCC**_ _**Financial statements for the year ended 31st December 2024**_ **NOTE 1** ## **Unrestricted Funds - Income and Expenditure account** **----- Start of picture text -----**
General Fund Capital Projects Total Funds 2024 Total Funds 2023
INCOME Donations and Legacies
Regular Giving £98,387.75 £98,387.75 £114,657.75
Collections and donations £20,205.72 £20,205.72 £5,549.19
Appeals and Grants £374.00 £4,550.00 £4,924.00
Legacies £0.00 £0.00
Total Donations and Legacies £118,967.47 £4,550.00 £123,517.47 £120,206.94
Charitable Activities
Magazine sales £3.00 £3.00 £25.00
Fees for weddings and funerals £4,510.00 £4,510.00 £1,455.00
Church House Hire £9,741.00 £9,741.00 £7,313.25
Church House activities £50.00 £50.00 £0.00
Car Park Fees £740.00 £740.00 £1,340.00
Feed in tariff - solar panels £1,421.11 £1,421.11 £2,132.14
Refreshments £1,011.15 £1,011.15 £871.73
Miscellaneous receipts £63.20 £20,660.60 £20,723.80 £752.02
Grants £6,814.00 £6,814.00 £10,000.00
£0.00 £0.00
Total Charitable Activities £17,539.46 £27,474.60 £45,014.06 £23,889.14
Investment Income
Dividends £1,183.33 £3,644.48 £4,827.81 £982.06
Bank Interest £0.00 £4,544.08
Total Investment Income £1,183.33 £3,644.48 £4,827.81 £5,526.14
Other Income
Donations to other Charities £611.63 £611.63 £2,650.76
Total Other Income £611.63 £0.00 £611.63 £2,650.76
Overall Total £138,301.89 £35,669.08 £173,970.97 £152,272.98
EXPENDITURE Charitable Activities
(see note 4) PCC Donations £12,774.50 £12,774.50 £11,750.91
Donation handed on to other charities £611.63 £611.63 £2,796.45
Family Purse £61,062.20 £61,062.20 £90,472.00
Vicar's Mileage (net of private use) £204.00 £204.00 £414.50
(see note 5) Church Running Costs £14,594.49 £44,732.75 £59,327.24 £19,793.56
(see note 6) Church House Costs £10,891.79 £17,343.36 £28,235.15 £20,562.81
Other Ministry Costs £19,533.43 £19,533.43 £3,560.83
Printing £1,356.83 £1,356.83 £1,107.30
Total Expenditure £121,028.87 £62,076.11 £183,104.98 £150,458.36
Net Income/(Expenditure) before investment
£17,273.02 (£26,407.03) (£9,134.01) £1,814.62
revaluation
INVESTMENTS Revaluation £264.59 £3,005.04 £3,269.63 £11,380.12
NET INCOME/(EXPENDITURE) £17,537.61 (£23,401.99) (£5,864.38) £13,194.74
Transfers between funds £0.00 £0.00 £0.00 (£49,708.64)
NET MOVEMENT IN FUNDS £17,537.61 (£23,401.99) (£5,864.38) (£36,513.90)
Page 10 of 15 Reconciliation of Funds
Total Funds brought forward £46,077.44 £131,290.68 £177,368.12 £213,882.02
TOTAL FUNDS CARRIED FORWARD £63,615.05 £107,888.69 £171,503.74 £177,368.12
**----- End of picture text -----**
## _**St Michael's, Braintree PCC**_ ## _**Financial statements for the year ended 31st December 2024**_ ## **NOTE 2** ## **Restricted Funds - Income and Expenditure account** **----- Start of picture text -----**
Closed 31/12/2023
Total Funds Total Funds
Bartram Manna Property Youth 2024 2023
INCOME Donations and Legacies
Donations £14,594.50 £14,594.50 £12,330.03
Total Donations and Legacies £0.00 £0.00 £0.00 £14,594.50 £14,594.50 £12,330.03
Charitable Activities
Church House Activities £0.00
Total Charitable Activities £0.00 £0.00 £0.00 £0.00 £0.00 £0.00
Investment Income
Bank Interest £349.60 £349.60 £273.30
Total Investment Income £349.60 £349.60 £273.30
Other Income
Total Other Income £0.00 £0.00 £0.00 £0.00 £0.00 £0.00
Overall Total £0.00 £0.00 £0.00 £14,944.10 £14,944.10 £12,603.33
EXPENDITURE Charitable Activities
Bibles & Confirmation Books £0.00 £0.00 £130.10
Music Licences £0.00 £0.00
Property Deprectiation £753.00 £753.00 £753.00
Donations to other charities £0.00 £0.00
Church Running Costs £0.00 £0.00
Other Ministry Costs £19,830.83 £19,830.83 £18,186.43
Total Expenditure £0.00 £0.00 £753.00 £19,830.83 £20,583.83 £19,069.53
Net Income/(Expenditure) before
£0.00 £0.00 (£753.00) (£4,886.73) (£5,639.73) (£6,466.20)
investment revaluation
INVESTMENTS Revaluation £0.00 £0.00
NET INCOME/(EXPENDITURE) £0.00 £0.00 (£753.00) (£4,886.73) (£5,639.73) (£6,466.20)
Transfers between funds £0.00 £3,071.58
NET MOVEMENT IN FUNDS £0.00 £0.00 (£753.00) (£4,886.73) (£5,639.73) (£3,394.62)
Reconciliation of Funds
Total Funds brought forward £177,727.64 £22,054.85 £199,782.49 £199,782.49
TOTAL FUNDS CARRIED FORWARD £0.00 £0.00 £176,974.64 £17,168.12 £194,142.76 £196,387.87
**----- End of picture text -----**
Page 11 of 15 ## _**St Michael's, Braintree PCC**_ ## _**Financial statements for the year ended 31st December 2024**_ **----- Start of picture text -----**
NOTE 3 Training & Outreach/Endowment fund - Income and Expenditure account
CLOSED 31/12/2023
2024 2023
INCOME Donations and Legacies
Charitable Activities
Donation (£15.00)
Church House activities £18.00
Total Charitable Activities £0.00 £3.00
Investment Income
Dividends
Bank Interest £252.68
Total Investment Income £0.00 £252.68
Overall Total £0.00 £255.68
EXPENDITURE Charitable Activities
Church Running Costs
Printing £691.26
Other Ministry Costs £2,195.43
Total Expenditure £0.00 £2,886.69
Net Income(Expenditure) before investment revaluation £0.00 (£2,631.01)
INVESTMENTS Revaluation £933.45
NET INCOME(EXPENDITURE) £0.00 (£1,697.56)
Transfers between funds (£9,170.42)
NET MOVEMENT IN FUNDS £0.00 (£10,867.98)
Reconciliation of Funds
Total Funds brought forward £10,867.98
TOTAL FUNDS CARRIED FORWARD £0.00 £0.00
**----- End of picture text -----**
Page 12 of 15 ## _**St Michael's, Braintree PCC**_ ## _**Notes to Financial statements for the year ended 31st December 2024**_ |**Notes**
_4_
**_Notes_**
_5_
**_Notes_**
_6_|**PCC DONATIONS FROM GENERAL FUND**
**_Missionary and charitable giving - overseas_**
ACTS
Chain Foundation
Barnabas Fund
Crosslinks (BCMS)
Church Pastoral Aid Society
Langham Partnership
Open Doors
Stand by Me
TearFund
**_Missionary and charitable giving - home_**
Braintree Youth Project Charity
Arocha (Eco support)
UEA
CYO Braintree
SASRA
**_Accrued 10% Tithe_**
Available to be paid next year
**Overall total**
**GENERAL FUND**
**CHURCH RUNNING EXPENSES**
Architects Fees
Cleaning and toiletries
Insurance
Light and heat
Membership fee
Organist & Verger Fees
Other costs
Refreshment costs
Repairs and Maintenance
**CHURCH HOUSE RUNNING EXPENSES**
Cleaning and toiletries
Insurance
Light and heat
Repairs and maintenance
Software
Telephone (inc. hardware for point to point system)
Water rates|**2024**
£200.00
£2,004.00
£200.00
£200.00
£180.00
£200.00||**Total 2024**
£2,908.55
£1,219.84
£5,115.50
£3,669.07
£37.50
£865.00
£0.00
£79.29
£45,432.49|| |---|---|---|---|---|---| ||||**_2023_**
£200.00
£2,200.00
£200.00
£180.00||| |||**£2,984.00**|**£2,780.00**||| |||£360.00
£200.00
£2,502.00
£200.00|£360.00
£55.00
£250.00
£2,502.00||| |||**£3,262.00**|**_£3,167.00_**||| |||£6,728.50|£5,803.91||| |||**£12,974.50**|**£11,750.91**||| |||**General Fund**
**2024**
£1,219.84
£5,115.50
£3,669.07
£37.50
£865.00
£79.29
£3,608.29|**Capital**
**Projects 2024**
2,908.55
£41,824.20||| ||||||**Total 2023**
2,755.00
3,379.57
4,831.40
775.27
62.50
480.00
343.32
256.37| ||||||6,910.13| |||**£14,594.49**|**£44,732.75**|**£59,327.24**|**£19,793.56**| |||**General Fund**
**2024**
£1,935.40
£1,718.89
£2,312.30
£3,634.35
£155.88
£390.97
£744.00|**Capital**
**Projects 2024**
£17,343.36|**Total 2024**
£1,935.40
£1,718.89
£2,312.30
£20,977.71
£155.88
£390.97
£744.00|**Total 2023**
£3,526.43
£1,697.46
£1,769.02
£12,479.57
£0.00
£430.33| ||||||£660.00| |||**£10,891.79**|**£17,343.36**|**£28,235.15**|**£20,562.81**| Page 13 of 15 ## _**St Michael's, Braintree PCC**_ ## _**Notes to Financial statements for the year ended 31st December 2024**_ ## _**Notes**_ ## **FIXED ASSETS** - _7_ **Tangible (all restricted)** **----- Start of picture text -----**
2024
Freehold
land &
Buildings Solar panels Total
£169,446.64 £8,281.00 £177,727.64
£169,446.64 £8,281.00 £177,727.64
£753.00 £753.00
£0.00 £753.00 £753.00
£169,446.64 £7,528.00 £176,974.64
**----- End of picture text -----**
## **COST** Brought Forward 1st January 2024 Additions 31st December 2024 ## **DEPRECIATION** Depreciation for the year 31st December 2024 ## **NET BOOK VALUE** 31 December 2024 |**INVESTMENTS**
Market value 1 January
Purchases at cost
Net gains (losses) on revaluation
**Market value 31 December**
**_COMPRISING:_**
**_ENDOWMENT FUND_**
442.52 CBF Investment Fund shares
815.37 CBF Fixed Interest Securities Fund
shares
**DESIGNATED FUNDS**
5,807.96 CBF Investment Fund shares|**Cost**
£5,355.00
£1,339.00
£80,000.00|**2024**
£142,474.23
£3,269.63|**2023**
£130,160.66
£12,313.57| |---|---|---|---| |||**£145,743.86 **|**£142,474.23**| |||**Market value**
**2024**
£10,232.26
£1,215.88
£134,295.72|**Market value**
**2023**
£10,003.30
£1,180.25
£131,290.68| ||**£86,694.00 **|**£145,743.86 **|**£142,474.23**| ## _8_ **INVESTMENTS** **St Michael's, Braintree PCC** ## _**Notes to Financial statements for the year ended 31st December 2024**_ ## _**Notes**_ |_9_
**DEBTORS - unrestricted funds:**
Church House rental
Car Park Fees
Funeral Fees
Planned giving/Collection
Tax recoverable
_10_
Prepayments and accrued income
Short Term Deposits
Cash at bank and in hand
Short Term Loan to Bell Ringers
_11_
**LIABILITIES - unrestricted funds:**
Tithed Donations to be paid next year
Car Park Fees
Donation towards St Michael's School Book 2022
Creditors|**2024**
**2023**
£0.00
£90.00
£0.00
£420.00
£534.00
£0.00
£327.62
£0.00
£2,087.62| |---|---| ||**£534.00**
**£2,925.24**| ||**2024**
**2023**
£415.79
_£4,994.53_
£96,596.58
_£108,670.60_
£2,263.84
_£2,263.84_| ||**£99,276.21**
**£115,928.97**| ||**2024**
**2023**
£7,235.41
£5,803.91
£40.00
£240.00
£44.00
£666.67
£6,610.23| ||**£7,942.08**
**£12,698.14**| ## _**OTHER NOTES**_ ## **During the year, the PCC employed:** Mrs Rachel Grove-Smith as our Youth & Children's Worker Mrs Angelina Joseph-Aung as our Bookkeeper Miss Jill Jackson our part-time cleaner The total wages - including Pension Costs - amounted to £33,450.82 ( 2023 £20,834.01) Social security costs were fully covered by the Employment Allowance. The Bookkeeper & the Youth & Children's Worker contribute to the Church of England pension scheme. During 2024 no payments were made to any PCC member, persons closely connected to them, or related parties with the exception of the reimbursement of approved expenses.