2022-12-31-accounts - The Parochial Church Council Of The Ecclesiastical Parish Of St. Alfege, Greenwich

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	Pa
Trustees Annual Report 2023
Aims &Purposes
Objectives 8 Activities
Achievements & Performance
Future Plans
Organisational Structure
Treasurer's Report	9
Auditor's Report	13
Statutory Accounts	15

uring the period fro	uring the period fro	m 1 January 20	22 to	the date ofthis report	, the following	were members ofthe P	CC:
ExOfficio:					Elected:
Vicar Chair		Simon Winn				Christine Balls (until	May '22)
Curate		Tatiana Kalveks (from July '22)				Keith Ison (until May	'22)
Assistant	Pnest	Stephen Nshimye		Kamegeri		Nigel Perks (until May '22)
Assistant	Priest	Patricia Mann	(until	Feb'22)		Deborah Sandringham	(until May '22)
Assistant	Priest	Faith Wakekng
Assistant	Priest	Robert Tobin	(from	Nov'22)		Simon Gallic (Treasurer)
Reader		Peter Kinnison				Andrew Lewis (Secretary from May '22)
Reader		David McEvoy
Reader		Richard Mash	(from Oct '22)			Frances Shaw
						Daisy Smith
Southwark		Carole Moses				Alison Wood
Pastoral	Auxiliary					Karen Belton
						Nick Harvey
Churchwarden		Irene Bishop CBE				Benjamin Crompton
Churchwarden		Malcolm Raid				Joyce Skeete (from May '22)
Deanery	Synod	Sue Corneck				Arno Levin (from May '22)
Deanery	Synod	Wendy Foreman				Victoria Ajoku (from May '22)
Deanery	Synod	Agnes Jones (Secretary to May 22)				Elizabeth Sekweyama
Deanery	Synod	Eve-Mitleton-Kelly		(until May '22)
Deanery	Synod	John Stanley

urred	against	that pr	oject during 2022.
				2022	2021	2020	2019
COIF	Investment	Fund	Income Shares			152,246	143,055
COIF	Ethical Investment		Fund Income Shares	152,120	173,686
CBF	investmeni	Fund Income Shares		77,670	87,981	76,920	71,952
CBF	Global Equity Income Fund Shares			267,286	310,685	267,367	224,638
CBF	UK Equity	Income	Fund Shares	173,427	216,345	183,900	189,025
M&G	Chanfund	Income	Units	162,572	172,162	162,498	196,608
				833,074	960,859	842,931	825,278

Income		2022	2021 6	Movement f	Change
Gift aid donations		113,827	104,728	9,099	9%
Non gift sid donations		36,250	22,754	13,496	59%
Total Donations		150,077	127,402	22,595	18%
Dividends and Interest		28,302	27,236	1,066	4%
Rental Property	Income	101,011	91,176	9,835	I1%
Investment Income		129,313	118,412	10,900	9%
Church hire		30,108	29,162	946	3%
Hall & Nursery		27,576	14,723	12,853	87%
Concerts		18,964	6,670	i2,294	184%
Church and hall		76,648	50,554	26,093	52%
Ministry		10,342	14,704	(4,362)	-30%
Core Income		366,379	311,153	55,227	18%
Restritaed Income		3,658	5,860	(2,202)	-38%
Wastelands			145.000	(145,000)	1004
Other Grant Income (Coed)			33,874	(33874)	100%
regacy
Total Incoiiie		370,037	495,887	(125,850)	-25'/

					Actual	Actual	Movement	Movement
					2022	2021	r.
Rental properly		expenses			16,399	17,835	(1,436)	-8%
Concerts, events		&other income generating			9,256	6,940	2,316	33%
Church maintenance					28,606	28,116	490	2%
Church running	expenses				36,980	34,210	2,770	8%
Hall maintenance		& repairs			3,512	27,545	(24,033)	-87%
Hall running expenses					8,939	7,373	1,565	21%
Administration	Office		staff	costs	35,152	39,127	(3,975)	-10%
Clergy housing	& ministry			expenses	16,073	34,322	(18,249)	-53%
Music and choir					23,338	19,806	3,532	18%
Church supplies					9,592	4,954	4,638	94%
Advertising					3,384	2,229	1,156	52%
Audit					6,305	5,812	492	8%
Office costs					21,731	14,671	7,060	48%
Depreciation					2,970	2,970		0%
Sundry costs					6,844	5,410	1,435	27%
Suh-Total Costs E			ended		229 081	251 319	~22 238	-9%
Diocesan quota					135,280	133,940	1,340	1%
Total Costs		ended			364 361	385259	~20 898	-5%

							Unrestricted	Reslrtcled	Total	Unrestricted	Resbicted	Total
							Fuiids	Funds	Funds	Funds	Funds	Full de
							2022	2022	2022	2021	2021	2021
						Note	8	6	F.	8	8	6
Income and Endowments		from:
						2
Donations and legacies							150,077	8,937	159,014	272,482	4,005	276,487
Chanlabie actnrities							85,629	(7.037)	78,592	98,894	133	99,026
Other Irading activities							1,361		1,361	239		239
Investments							129,313	1,758	131,071	118,412	1,722	120,135
Other income
Total income and endowments							366,379	3,658	370,037	490,027	5,860	495,887
Expenditure on:
Raising Furids							25,937	2,390	28,327	24,775	4,008	28,783
Chantable activities							338,706	97,243	435.948	360,484	113,876	474,360
Other
Total expenditure							364,643	99,633	464,276	385,259	117,884	503143
Net gains/(losses)	on investments			Realised						12,732		12,732
Net gains/(losses)	on tnvestments			Unreal/sed			(117,742)	(10,043)	(127,785)	107,052	10,024	117,076
Gains/(losses) on revaluation			ofinvestment		properties
Net Income							f116,006)	(106,018)	(222,023)	224,551	(102,000)	122,551
Transfers between	funds					10	(62,778)	62,778		(43,881)	43,881
Net movement in funds							(178,783)	(43,240)	(222,023)	180,670	(58,119)	122,551
Reconciliation offunds:
Total funds brought forward		at 1stJanuarr					6,051,265	112,305	6,163,570	5,870,595	170,424	6,041.019
Total Funds cerned	forward at 31December						5,872,482	69,065	5,941,547	6,051,265	112,305	6,163,570

					2022		2021
			Note
Fixed Assets
Land & property	for use by the PCC		4(a)	468,210		468,210
Investment properties			4(b)	4,445,000		4,445,000
Other tangible fixed assets			4(d)	5,693		8,663
Securities			5	833,074		960,859
					5,751,977		5,882,731
Current assets
Debtors			12	31,922		176,524
Short term deposits			6	3,280		3,265
Cash at bank and		in hand		186,135		189,436
				221,337		369,224
Current liabilities
Amounts falling due within one year			13	(31,767)		(88,385)
Net current assets					189,570		280,839
Net assets					5,941,547		6,163,570
Funds
Unrestricted
- Designated				5,203,328		5,309,993
—Undesignated				669,154		741,272
Total unrestricted					5,872,482		6,051,265
Restricted					69,065		112,305
Total funds					5,941,547		6,163,570

) income	) income
Voluntary income and capital sources
	Collections are recognised when received by or on behalf of			the PCC;
	Planned giving receivable under Gift Aid etc. is	recognised	only when received;
	Income Tax recoverable on covenants or Gift Aid donations			is recognised when		the income is probable;
	Grants and legacies to the PCC are accounted	for as soon	as the PCC is notified of its legal entitlement						and
	the amount due,
	Receipts from fundraising events are accounted	for gross;
	For CJRS grant income, the income is recognised in the penod to which the				underlying		furloughed	staff	costs
	relate to
	Sales ofguidebooks and other items to visitors	to the church		are accounted	for	gross.
Other ordinary income
	Income from the letting ofthe church and the church hall is		recognised when		the rental		is due with	the
	exception ofthe hall hire for children's parties that is recognised when received.
income from investments
	Dividends and interest are accounted for when	receivable.	Tax recoverable		on	such income is recognised				in
	the same accounting year;
	Rental income from investment property is recognised when			the rent is due.
Gains	and losses on investments
	Realised gains or losses are recognised when	investments	are sold;
	Unrealised gains or losses are accounted for on revaluation			of investments	at 31stDecember.
c)	Expenditure
Grants
	Grants and donations are accounted for when	paid over, or	as soon as outflow			ofeconomic benefit		is
	probable for example when a grant is awarded	(ifthat award		creates a binding		obligation	on the PCC).
Activities directly relating to the work of		the church
	The diocesan quota or parish share is accounted for when payable. The quota					is paid for in ten equal direct
	debit instalments and is paid in full dunng the financial year

Inc	ome	and Endowm	ents	from:
				2022	2022	2022	2021	2021	2021
			Note	E	6	6	6	E	6
Donations &Legacies
Gift aided Donations				91,015		91,015	86,809		86,809
Income tax recoverable		on gift aided donations		22,812		22,812	I7,829		\7,820
Collections (open	plate)	at ag services		0,911		8,911	217		217
Sundry donations				27,340	8,037	36,277	167,537	4,005	171,542
I.egaaes			14
				150,077	8,037	159,014	272,482	4,005	276,487
Charitable activities
Church &church	hall lettings			65,228		65,228	37.391		37,391
Car parking				11,420		11,420	13,163		13,163
Weddhng and other fees				8,981		8,981	14,468		14.466
Grants							33,874		33,874
Other Fundraising					(7,0371	(7,037)		133	133
				85,629	(7,037)	78,592	98,894	133	99,026
Other trading activities
Income from fundraising		events		1,361		1,361	239		230
				1,361		1,361	239		230
Investments
Bank &other interest				30	15	53	I
Dividends				28,265	1,743	30,007	27,236	1,722	28,957
Rental income				101,011		101,011	91,176		91,176
				129,313	1,758	131,071	118,412	1,722	120,135
Total income and	endowments			366,379	3,658	370,037	490,027	5,060	495,887

						Unrestncted	Restricted	TOTAL	Unrestnxded	Restncted	TOTAL
						Funds	Funds	FUNDS	Funds	Furiri s	FUNDS
						2022	2022	2022	2021	2021	2021
					Note	0	2	9	2	2
Raising funds
Rentalproperly expenses						16,399		16,399	17,035		17,835
Concerts, events and		other income generating		acbv tes		9.256	2.390	11,646	6,940	4.000	10,948
Shop cost of salsa						203		283
						25,937	2,390	20,327	24,775	4,00e	20,703
Charitable activities
Diocesan quota					15	135.280		135,280	133,940		133,940
Church maintenance		8 restoraten			16,17	28,606	36,667	65,272	28,116	46,577	74,693
Church running expenses						36,900		36,900	34,210	270	34,408
Hall maintenance	8 repairs				16	3,512		3,512	27,545		27,545
Hail running expenses						8,939		0,939	7,373		7,373
Adminetration staff costs						35152	47,317	02,470	39,127	54,935	94,062
Clergy housing &	ministry		expenses			16,073		16,073	34,322		34,322
Music arid choir						23335		23,330	19,006		19,000
Church supplies						9,592	I 402	10,994	4,954	1 267	6,221
Advertising						3,304	4634	8,010	2,229	4,162	6,390
Audit						6,305		6,305	5,012		5,012
Offtce costs						21,731	113	21,844	14,671	229	14,900
Depredation					4td)	2,970		2,9TO	2,970		2,970
Chantable Giv ng,	Grants					205	7 110	7,315	1,519	6,429	7,940
Sundry costs						6639		0,639	3,891		3,891
						330,706	97.243	435,940	360,404	113,t!76	474,360
Total Expenditure						364,643	99,633	464,276	305,259	117,004	503,143

ctd
			2022	2021
Cost or esimated		market value
At lslJanuary Addrtrorrs			468,210	468,210
Revalualrons
Drsposals
At 31st December			468,2io	468,210
Comprisrng. Church hall and nursery Caretakers cottage			168,210 125,000	168,210 125,000
Car park area			100,000	100,000
Old mortuary burldrng			75,000	75,000
			468,210	468,210
			2022	2021
			6	5
Cost or esttmated	market value
At 1st January			4,445,000	4,445,000
Addrtrons
Revaluatrons
At 31stDecember			4,445,000	4,445,000
Compnsing
7 St Alfege Passage			1,170,000	1,170,000
8 St.Alfege Passage			1,120,000	1,120,000
10St.Alfege Passage			1,170,000	1,170,000
11 St Alfege Passage			885,000	885,000
			4,445,000	4,445,000
			2022	2021
			6	6
Cost
At 1st January			7,725	7,725
Addltlohs
At 31stDecember			7,725	7,725
Accumulated Deprematlon
At 1st January			7,725	7,725
Depreciation for the		year
At 31stDecember			7,725	7,725
Net gook Value
At 1stJanuary
At 31stDecember

								2022	2021
				Cost
				At 1stJanuaiy				31,435	31,435
				Additions
				At 31st December				31,435	31,435
				Accumulated		Depreciation
				At 1st January				22,773	19,803
				Depreciation	for the year			2,970	2,970
				At 31st December				25,743	22,773
				Net Book Value
				At 1st January				8,663	11,633
				At 31st December				5,693	8,663
5 Securities
5(a) Equities								2022	2021
				COIF Ethical Investment			Fund Income Shares	152,120	173,686
				CBF Investment		Fund Income Shares		77,670	87,981
				CBFGlobal Equity Income Fund Shares				267,286	310,685
				CBF UK Equity	Income		Fund Shares	173,427	216,345
				M&G Charifund		Income	Umts	162,572	172,162
								833,074	960,859
5(b) Total Securities								2022	2021
Reconmliation ofthe opening and closing market values of securities. COIF Chanty Investment Fund holdings were				Market value at 1st January Additions Disposals, at cost				8 960,859	8 842,931 163,828 (175,708)
sold in 2021 and	all proceeds			Gain on disposal					12,732
were immediately	re-invested		into	Revaluations				(127,785)	117,076
COIF Ethical Charity Investment				Market value at		31st December		833,074	960,859
Fund holdings
5(c) Securities: current assets and fixed assets
Reconoliation of	the opening		and					2022	2021
closing market values of
securities. COIF	Charity							8
Investment Fund	holdings	were		Fixed assets				833,074	960,859
sold in 2021 and	all proceeds			Current assets
were immediately	re-invested		into					833,074	960,859
COIF Ethical Charity Investment
Fund holdings

															2022	2021
															2	2
						Central	Board		ofFinance ofthe Church			of	England		3,280	3,265
															3,280	3,265
7	Gains on		revaluation		or disposal
						Uoragtriotad			Restricted		TOTAL		Uoraatnctad		Ragtnctad	TOTAL
							Funds			Foitd	FUNDS			Funds	Fund	FUNDS
								2022		2022	2022			2021	2021	2021
	Analysis	ofchanges	In the period
	Investment	properties
	Nett gain	(-logo) on gacuntiaa				(117,742)			(10,043)		(127,735)			IO7,052	10,024	117,07S
	Nat gain	(-logo) on revaluations/		Ctapoaalg		(It7, 742)			(10,043)		(127,7SS)			107,052	10,024	117,07S
8	Analysis		of net	assets		by fund
					Unrestricted			Restricted			Total	Unrestricted		Restricted		Total
						Funds			Funds	Funds			Funds		Funds	Funds
						2022			2022		2022		2021		2021	2021
	Land &	Buildmgs				468,210				468,210			468,210			468,210
	Fixtures,	Fittings &	Equipment			5,693					5,693		8,663			8,663
	Investment Property				4,445,000					4,445,000			4,445,000			4,445,000
	Securities					771,222			61,852	833,074			888,964		71,895	960,859
	Current	Assets				213,524			7,213	220,737			278,059		91,165	369,224
	Current	Liabilities				(31,167)				(31,167)			(37,631)		(50,754)	(88,385)
	Fund balances				5,872,482				69,065	5,941,547			6,051,265		112,305	6,163,570

me is	accu	mulate	d until an a	ppropriate requir	ement for rep	air arises.
				Current	Securities	Total	Current	Securities	Total
				Assets		Assets	Assets		Assets
				2022	2022	2022	2021	2021	2021
				6	6	6	6	E	E
Smith Trust					61,652	61,652		71,895	71,895
Restoration		Appeal	Fund				35,039		35,039
Chancel	Fund			1,157		1,157	1,142		1,142
Grants				607		807	807		807
Charity	Collections		Held	5,246		5,248	3,421		3,421
Total Restricted Funds				7,213	61,652	69,065	40,410	71,895	112,305

~Ch	it 9	II ti	. Th bi	fbh ilfCllbi h	fbh ilfCllbi h	d	3 t	I	3 II	td bhlf	th	h ~
such as Lent Call, Christian during the year. The current			Aid, 999 balance	Club and other charities supporting the is primanly from Christmas collections				homeless. and will be		A8 funds are distributed distributed in 2023.		regularly
9(b)		Unrestricted	funds
				General	Designated		Total		General	Designated		Total
				Purposes	Funds	Unrestricted		Purposes		Funds	Unrestricted
							Funds					Funds
				2022	2022		2022		2021	2021		2021
				6						E
	Land &Buildings			466,210			466,210		466,210			468,210
	Fixtures,	Fittings &Equipment		5,693			5,693		8,663			8,663
	Investment	Property			4,445,000		4,445,000			4,445,000	4,445,000
	Development Costs
	Securities			63,056	668,166		771,222		94,133	794,831		868,964
	Current Assets			140,962	72,562		213,524		205,498	72,562		278,059
	Current Liabilities			(28,767)	(2,400)		(31,167)		(35,231)	(2,400)	(37,631)
				669,154	5,203,328		5,872,482		741,272	5,309,993	6,051,265

			Arnold Bequest	Woodyard Sale Proceeds	Woodyard Sale Proceeds			Lowe Bequest	Total Demgnated Funds	Total Demgnated Funds			Arnold Bequest	Woodyard Sale Proceeds	Woodyard Sale Proceeds		Lowe Bequest	Total Designated Fuilds	Total Designated Fuilds
			2022		2022			2022		2022			2021		2021		2021		2021
			E		6					E			5		6		E		5
Land &Buildings
Futures, Fittings & Equipment
Invsslmenl Progeny			4,445,000						4,445,000			4,445,000						4,445,000
Development Costs
Secunbes			146,734		462,432			79,001		686,166			167,534	543,636			83,661		794,831
Current Assets			2,400		70,162					72,562			2,400	70,162					72,562
Current Liabilities			(2,400)							(2,400)			(2,400)						(2,400)
Long Term Liabilities
			4,59i,734		532,594			79,001	5,203,328			4,612,534		613,798			83,661	5,309,993
LLBL t:rh a wish that it be used		tggg tttg th to 'assist the music			Pcc at the	h it d said Church'.			t t th i di ' tgt The income received from the						g fund's	h	'it assets is	g considered
to be a contribution	by	the fund to the		considerably			greater annual			cost of	maintaining			music	in the	church and			is not
separately reported	in	these	finanaal	statements.
10 Analysis	offund movements during							the year

		Balance	Income &	Expenditure	Transfers	Unrealised	Balance
		I Jan '22	Realised			Gains/	31 Dec 22
			Gains/			(Losses)
			(Losses)
Fund
Unrestncted Funds
General Purposes	Fund	741,273	340,595	(364643)	(36,993)	(11,078)	669,153
Arnold Bequest		4,612,534	4,579		(4,579)	(20,800)	4,591,734
Woodyard Sale Proceeds		613,796	16,744		(16744)	(81,204)	532,594
Lowe Bequest		83,661	4,462		(4,462)	(4,660)	79,001
Total Unrestricted	Funds	6,051,265	366,379	(364,643)	(62,778)	(117,742)	5,872,482
Restricted Funds
Chanty Collections	Held	3,421	8,937	(7,110)			5,248
Smith Trust		71,895	1,743		(1,743)	(10,043)	61,852
Grants - restricted		807					807
Chancel Fund		1,142	15				1,157
Restoration Appeal		35,039	(7,037)	(92,523)	64,520
Total Restricted	Funds	112,305	3,658	(99,633)	62,778	(10,043)	69,065
		6,163,570	370,037	(464.276)		(127,785)	5,941,547

		Balance	Income &	Expenditure	Transfers	Unreslised	Balance
		1 Jan '21	Realised			Gains/	31Dec21
			Gains/			(Losses)
			(Losses)
Fund
Unrestricted Funds
General Purposes	Fund	668,566	465,597	(385,259)	(19,041)	11,409	741,273
Arnold Bequest		4,591,853	15,526		(4,353)	9,508	4,612,534
Woodyard Sale Proceeds		537,615	16,084		(16,084)	76,182	613,798
Lowe Bequest		72,560	5,551		(4,403)	9,952	83,661
Total Unrestricted	Funds	5870 595	502,758	(385,259)	(43,881)	107,052	6,051,265
Restricted Funds
Charity Collections	Held	5,638	4,005	(6,429)	207		3,421
Smith Trust		61,871	1.722		(1,722)	10,024	71,895
Grants - restricted		807					807
Chancel Fund		1,142					1,142
Restoration Appeal		100,966	133	(111,455)	45,396		35,039
Total Restricted	Funds	170,424	5,860	(117,884)	43,881	10,024	112,305
		6,041,019	508,618	(503,143)		117,076	6,163,570

11(b) PCC employees and their	emolume	nts
Clergy are paid by the diocese and are				Number of	Full time
not PCC employees. The PCC employs				employees	equivslen
part-time administrators including a	Function
Volunteer Manager. The Heritage	Administration				1.7
Engagement Administrator left during 2022 and is not included in the 5	Music snd	Concert	Management		04
employees reported for 2022. A new				5	2.1
Volunteer Manager continuing post the
NLHF has been recruited and will
commence employment in 2023.These				2022	2021
employees have employment contracts				8	8
and their emoluments are subject to deductions of PAYE and NIC. The table	Gross salaries			91,701	85,889
on the nght shows the total cost to the	Employer	Pension	contributions	1,697	1,651
PCC of employing them. No employees	Employer's	National	Insurance	1,686	6,522
received employee benefits, excluding				95,085	94,062
employer pension, of more that F60,000.

received e employer 11(c)	mployee benefits, excluding pension, of more that F60,000. Related party transactions	mployee benefits, excluding pension, of more that F60,000. Related party transactions	mployee benefits, excluding pension, of more that F60,000. Related party transactions	mployee benefits, excluding pension, of more that F60,000. Related party transactions	mployee benefits, excluding pension, of more that F60,000. Related party transactions					95,085	94,062
Payments	totalling E1,652 (2021:F1,537)were made to two trustees						relating	to	music and	payments totalling	F9,806
(2021 F12,183)were made,			by way of	payroll, to two trustees for administrative					activities.	No other trustees	or Key
Management Personnel received expenses. F908was paid to two members and f375was paid towards clergy retreat and spintual direction. No amounts								ofthe clergy were paid to		for travel and subsistence any other PCC members
or related	parties for travelling, subsistence				or any other out ofpocket		expenses		in 2022.
12		Debtors
										2022	2021
										F.	f
					Prepayments					5,475	6,221
					Gift Aid Reclaim					7,780	6,229
					Rental Deposit					2,400	2,400
					HLF Grant						132,539
					Other Debtors					16,266	29,135
										31,922	176,524
13		Liabilities: amounts		falling due within one		year
										2022	2021
										E
					Rental Property	Deposit				2,400	2,400
					Accrued Expenses					8,390	63,108
					Provisions
					Taxation and somal security					7,157	7,157
					Deferred Income					4,579	4,287
					Sundry Creditors					9,241	11,434
										31,767	88,385

					From Unrestricted	From Restncted	TOTAL	TOTAL
					Funds	Funds	EXPENSE	EXPENSE
							2022	2021
							6	6
Hall					3,512		3,512	27,545
Church
Restoration		Appeal				36,667	36,667	46,577
Heating					2,274		2,274	2,616
Electncsl					3,644		3,644	2,151
Roof 8	Floor							1,050
Other,	incl.	organ	&	sound	21,322		21,322	19,301
Tower	snd	clock			647		647	2,164
Churchyard					720 32 118	36667	720 ~68784	835 102238
Funded by;
PCC General		Purposes		fund	15,374		15,374	39,577
Woodyard					16,744		16,744	16,084
Restoration	Appeal					36667	36,667	46 577
					32,118	36,667	68,784	t02 238

The St.Alfege Fund: Charity nu	The St.Alfege Fund: Charity nu	mber 279741.	mber 279741.	mber 279741.	mber 279741.	mber 279741.	mber 279741.	mber 279741.
All the trustees ofthis long-established clear yearly income towards the upkeep		registered charity are PCC members and repair ofthe fabric ofthe church							and the charity's objects are 'to apply the and subiect thereto towards the
maintenance ofservices in the church and maintenance to be invested in accumulation shares for 45 years from						of its furniture'. 3rd December		Under the scheme, most ofthe fund was required 1971.This requirement has expired. Although it is
a separate legal entity, for all practical purposes				the charity			is like an endowment			fund ofthe PCC. The PCC includes		the
assets, liabikties and financial activities		of	the charity		in the financial statements					ofthe PCC by way ofa note to the
accounts.
										2022	2021
	Balance Sheet
	Securities
	29,493COIF Investment Fund	accumulation			shares			132,087
	7,550COIF Investment Fund income shares							20,663
										152,750	169,872
	Cash and short-term deposits
	Bank deposits							3,385
										3,385	2,740
	Creditors
	PCC
										156,135	172,611
	Statement of Financial Activities
	Income:
	Dividends									645	613
										645	613
	Expenditure.
	Grant to PCC StAlfege										(145,000)
	Net income before investment gains									645	(144,387)
	Gains on investments
	Unreslised gains (-losses) on revaluation									(17,122)	24,555
	Net gains/(losses) on investments:		Realised								14,168
	Net income									(16,477)	(105,664)
	Balances b/f 1stJanuary									172,611	278,275
	Balances c/d 31stDecember									156,135	172,611