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← The Parochial Church Council Of The Ecclesiastical Parish Of St Mary The Virgin, Twickenham

2023-12-31-accounts

Charity number 1133089

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN, TWICKENHAM

TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN, TWICKENHAM TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

________________

1 OBJECTIVES AND ACTIVITIES

Aim and purposes

St Mary’s, Twickenham Parochial Church Council (PCC) has the responsibility of co-operating with the Incumbent in promoting in the ecclesiastical parish the whole mission of the church, pastoral, evangelistic, social and ecumenical. It is also responsible for the upkeep and maintenance of the church premises and parish office. The PCC also has responsibility for all parish finances and their management and control.

Objectives and activities

The PCC is committed to enabling as many people as possible to worship at our church and to become part of our parish community. The PCC maintains an overview of worship throughout the parish and makes suggestions on how our services can be relevant to the many groups that live within the parish. Our services and worship put faith into practice through prayer and scripture, music and sacrament.

When planning our activities for the year, we have considered the Charity Commission’s guidance on public benefit and the supplementary guidance on charities for the advancement of religion. We try to enable ordinary people to live out their faith as part of our parish community through:

2 ACHIEVEMENTS AND PERFORMANCE

Worship and Prayer

St Mary’s seeks to meet the needs of all those who live or work in the local community. It particularly attracts and supports young families as well as being a spiritual home and point of reference for those who have been living or working in Twickenham for many years. At the time of the last APCM, there were 282 (2022 - 277) names on the Electoral Roll. Average weekly Sunday attendance counted during 2023 was 138 (2022 - 174).

The principal service continues to be the 9.30 Sunday morning Parish Eucharist, attended by around 120 people. Sunday School is available during the first part of the service, and the children are brought back to church for Communion, with the exception being on the third Sunday of the month during term time when the service is more child-friendly and the children stay throughout. The Sunday School groups take it in turns to help lead the third Sunday service. In addition, on the second and fourth Sundays of every month, Eucharist is offered at 8am. Every Wednesday at 10am there is also a service of Holy Communion using the 1662 Prayer Book form of the Liturgy. Should the parish priest not be available, the church is open and stewarded – available for private prayer.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN, TWICKENHAM TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

________________

The Vicar sends out weekly Pastoral Letters to the congregation, posted to those unable to access the internet. Additional services were held on significant days in the Christian calendar and in the life of our Parish school where possible.

The church continued to host weddings, baptisms and funerals during the year. In 2023, there were 7 baptisms, 6 weddings and 9 funerals.

Pastoral Care

Pastoral visiting ceased during the pandemic although telephone support continued throughout. It is hoped that visiting will fully recommence during the coming year. Ministers of Holy Communion are available to take the blessed Sacrament to those who are no longer able to get to church.

Mission and Evangelism

Our Vision at St Mary’s is that we are a church which seeks to:

These Vision Statements, which were initially expressed in 2003, have been comprehensively reviewed by the PCC on at least two occasions since then and re-affirmed.

The sub-committee structure of the PCC has been arranged in such a way as to deliver on these Vision Statements and includes the Reordering Vision Group, which re-modelled the interior of our church to help make God more real for the people of this area.

The other sub-committees and Vision Groups are:

Buildings Children and young people Eco Ecumenical Relations Finance and Stewardship Music Communications Discipleship

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN, TWICKENHAM TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

________________

All groups report back to the PCC, which is the body which, together with the Standing Committee, monitors the realisation of the Vision.

Relationships with each other and with God are nurtured through the Lent Course, other regular prayer and discussion groups and the annual parish pilgrimage to Walsingham.

Work with children and young people actively continues in church and at St Mary’s Primary school.

The church organises a charitable giving programme for organisations nominated by parishioners and approved by the PCC. The programme has followed the agreed principles to focus the giving to a broad range of charitable beneficiaries. The amount being set aside into a designated fund each year, £4,261 in 2023 and £3,970 in 2022, for distribution in the following year is determined by a formula being 50% of net fete income plus 50% of Christmas collections plus 100% of charity day retiring collections. During the year, speakers from charities we support are invited to address the congregation.

Social events are held through the year to help bring people drawn from across the congregation together.

Deanery Synod

One member of the PCC sit on the Deanery Synod. This provides the PCC with an important link between the parish and the wider structures of the Church. Issues discussed at its meetings are regularly reported to the PCC.

Church Fabric and Buildings

Work to the church fabric and buildings are overseen by the Buildings Group on behalf of the PCC. An annual budget is set at the start of the year and the programme of works planned accordingly.

Our thanks go to all the volunteers from the congregation who make this work, and more, possible and we mention especially the bell ringers, the flower arrangers, the cleaners, the choir, the musicians, the sacristans and verger, the Sunday coffee teams, the readers and prayer leaders, the Church Wardens and the team in the Parish Office.

Plans for Future Periods

The PCC, as trustees, do not anticipate any significant change to its activities as expressed in its Mission Statement over the next year. Reordering the nave will enhance the PCC’s ability to achieve its objectives.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN, TWICKENHAM TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

________________

3 FINANCIAL REVIEW

A detailed breakdown of the financial activities of the PCC is contained in the financial statements attached to this report.

This year’s statement of financial activity shows a surplus of £52,000 (2022 £73,000). Total income was £258,000 compared to £272,000 in 2022. Expenditure was £206,000 compared to £199,000 in 2022.

Our income from planned giving was £123,000, down from £125,000 in 2022. Our income from collections was £20,000 same as £20,000 in 2022.

Our other areas of unrestricted regular income, fees from church and hall lettings, and church fees increased to £75,000 compared to £63,000 in 2022.

Day-to-day unrestricted expenditure on church activities has increased to £206,000 compared to £199,000 in 2022. Our contribution to the Diocesan Common Fund increased by £3,000 to £92,000 in line with the commitment made to the Diocese.

This year, £4,318 was distributed as part of charitable giving to charities nominated by members of the church.

There has been no change to fixed assets in the year, other than the annual depreciation charge. Debtors have increased to £37,000 from £31,000 in 2022 and include £19,000 of income tax recoverable through gift aid. Creditors have increased from £29,000 in 2022 to £34,000.

Cash at bank and in hand increased from £296,000 in 2022 to £348,000.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN, TWICKENHAM TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

________________

At the end of the year, the church had reserves of £351,000 (2022 - £298,000). This is primarily represented by money held at the bank and other financial institutions. An explanation and analysis of the various funds is set out in note 9 to the financial statements.

Reserves

The PCC has reviewed its policy on reserves. The PCC continues to hold the equivalent of 40% of recurring expenditure in reserve to underpin the work of the church. At 31 December 2023, this would amount to £82,000. The general fund’s undesignated reserves at 31 December 2023 were £289,000. Given the current plans to recruit an assistant priest and the associated cost, the PCC consider it to be prudent to maintain this level of reserves.

Risk Management

The Trustees have reviewed the activities of the church to identify and assess the major risks facing the charity. Having assessed the major risks to which the charity is exposed, the Trustees believe that by monitoring reserve levels, by ensuring controls exist over key financial systems, and by examining the operational risks faced by the charity, they have established effective systems to mitigate those risks. In line with the requirements for Trustees to undertake a risk assessment exercise and report on the same in their annual report, the Trustees have looked at the risks the charity currently faces, identifying three main areas where risks may arise:

Management and governance consider the risk of the charity suffering from a lack of direction, the skills and training of its members, staff and volunteers, and the good use of its resources.

Financial risks include those resulting from poor budgetary control, inappropriate spending, poor investment advice and poor accounting.

Laws, regulations, external and environment look at the effects of government policies, the consequences of noncompliance with the laws and regulations and poor risk assessment.

4 STRUCTURE, GOVERNANCE AND MANAGEMENT

The PCC is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. It is a registered charity.

Organisational Structure

Members of the PCC are Trustees of the Charity and are either ex-officio or elected in accordance with the Church Representation Rules. All church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN, TWICKENHAM TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

________________

Members of the PCC and its Committees meet regularly and otherwise keep in touch through informal discussions and email.

The PCC operates through a number of committees and groups reflecting the vision of the PCC. They meet on a regular basis and make recommendations to the full PCC. The committees are made up of members of the PCC and interested members of the congregation.

Ad-hoc committees and working parties are formed from time to time for specific short-term purposes.

Methods, Appointment, Election, Induction & Training of Members

Members of the PCC are elected for a three-year term at the Annual Parochial Church Meeting (‘APCM’) and can serve two consecutive three-year terms, a total of six years, before having to stand down for a minimum of a year. Members can be co-opted annually to the PCC. Members are elected as Officers and Wardens and appointed as PCC representatives on the Standing Committee.

All members are invited to attend training, both as Trustees and in their capacity of their individual appointments.

Trustees’ Responsibilities in the Preparation of Financial Statements

The Trustees are responsible for preparing the Trustees’ Report and the Financial Statements in accordance with the applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales and the Church Accounting Regulations 2006 require the PCC to prepare a Trustees’ Report and 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 the financial statements, the Trustees are required to:

The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the PCC and to enable it to ensure that the financial statements comply with the Church Accounting Regulations 2006, the Charities Act 2011 and the applicable Charity (Accounts and Reports) Regulations. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

Independent Examiner

Kerry Gallagher of RSM UK Tax and Accounting Limited has indicated her willingness to undertake the independent examination of the financial statements.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN, TWICKENHAM TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

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5 REFERENCE AND ADMINISTRATIVE DETAILS

The Church of St Mary The Virgin is situated close to the river in the old part of Twickenham. It is part of the Diocese of London within the Church of England. The Parish includes a relatively small number of residential properties, and thus many of those on the Electoral Roll live outside the Parish. Its correspondence address is:

The Parish Office, St Mary’s Church Hall, Church Street, Twickenham, Middlesex TW1 3NJ. Telephone: 0208 744 2693 Website: www.stmarytwick.org.uk Registered charity number: 1133089

The members of the PCC are listed below:

Incumbent The Rev'd Jeffery Hopkin Williams

Church Wardens Margaret Mence Barbara Williams
Deanery Synod representative Judy Britton
Elected Members Geoff Noble
Liz Sledge Rosemary Fulljames
John Albasiny Stephen Tetley
Annie Atlay Clarinda Chan
Appointed APCM 2023 Jane Norris Helena Tarrant
Sophy Fisher
Retired APCM 2023 Francis Drasar Elizabeth Webborn
Karen Kiddle
Co-opted Members Adrian Mumford
Paul Smart

All members served throughout the year unless indicated to the contrary . The APCM for 2023 was held on 1 6[th] April 2023.

The Trustees’ Report was approved by the Parochial Church Council on …………………… and signed on its behalf by: …………………………………………………………. …………………………………………………………. Rev’d R. J. Hopkin Williams, Chair P Smart Hon. Treasurer

…………………………………………………………. P Smart Hon. Treasurer - 7 -

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN, TWICKENHAM

________________ I report to the Trustees on my examination of the financial statements of The Parochial Church Council of the Ecclesiastical Parish of St. Mary, The Virgin, Twickenham (‘the charity’) for the year ended 31 December 2023, which are set out on pages 9 to 20.

Responsibilities and basis of report

As the Trustees of the charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act, and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145 (5)(b) of the 2011 Act.

An independent examination does not involve gathering all the evidence that would be required in an audit, and consequently, does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the financial statements present a ‘true and fair view’ and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner’s statement

Since the charity’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 Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 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.

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 financial statements to be reached.

Kerry Gallagher Signed: …………………………………………………….

Name: Kerry Gallagher Name of applicable listed body: The Institute of Chartered Accountants in England and Wales Relevant professional qualification or membership of professional body: Chartered Accountant

ON BEHALF OF RSM UK TAX AND ACCOUNTING LIMITED Chartered Accountants 22/03/24 Davidson House, Forbury Square, Reading, Berkshire RG1 3EU

…………………………………………………….

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY THE VIRGIN, TWICKENHAM STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Note
Income and endowments from:
Donations & legacies
2a
Charitable activities
2b
Other trading activities
2c
Investments
2d
Total
Expenditure on:
Raising funds
3a
Charitable activities
3b
Total
NET MOVEMENT IN FUNDS
Reconciliation of Funds:
Total funds brought forward
Total funds carried forward
9		 Unrestricted
Restricted
Funds
Funds
2023
2022
£
£
£
£
154,019
2,758
156,777
202,319
74,559
-
74,559
63,330
20,892
-
20,892
4,998
5,532
-
5,532
1,185
TOTAL FUNDS**
255,002
2,758
257,760
271,832
1,279
-
1,279
769
204,299
-
204,299
198,418
205,578
-
205,578
199,187
49,424
2,758
52,182
72,645
258,705
39,773
298,478
225,833
308,129
42,531
350,660
298,478

The notes on pages 12 to 20 form part of these accounts.

** an analysis for 2022 is given on the next page.

9

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY THE VIRGIN, TWICKENHAM STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Note
Income and endowments from:
Donations & legacies
2a
Charitable activities
2b
Other trading activities
2c
Investments
2d
Total
Expenditure on:
Raising funds
3a
Charitable activities
3b
Total
NET MOVEMENT IN FUNDS
Reconciliation of Funds:
Total funds brought forward
Total funds carried forward
9
The notes on pages 12 to 20 form part of these accounts.		 Unrestricted
Restricted
Funds
Funds
2022
2021
£
£
£
£
197,139
5,180
202,319
171,749
63,330
-
63,330
38,420
4,998
-
4,998
8,623
1,185
-
1,185
14
TOTAL FUNDS
266,652
5,180
271,832
218,806
769
-
769
703
198,418
-
198,418
164,843
199,187
-
199,187
165,546
67,465
5,180
72,645
53,260
191,240
34,593
225,833
172,573
258,705
39,773
298,478
225,833

10

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY THE VIRGIN, TWICKENHAM BALANCE SHEET AS AT 31 DECEMBER 2023

Note
2023
£
£
FIXED ASSETS
Office equipment
6
-
CURRENT ASSETS
Debtors
7
36,938
Cash at bank on short term deposit
347,516
and in hand
384,454
LIABILITIES
Creditors - amounts falling due
in one year
8
(33,794)
NET CURRENT ASSETS
350,660
TOTAL NET ASSETS
10
350,660
PARISH FUNDS
Unrestricted
308,129
Restricted
42,531
10
350,660
Approved by the Parochial Church Council on 17 March 2024
and signed on its behalf by:
Rev'd R. J. Hopkin Williams, Chair
P Smart Hon. Treasurer
The notes on pages 12 to 20 form part of these accounts.		 2022
£
£
950
30,576
296,143
326,719
(29,191)
297,528
298,478
258,705
39,773
298,478		 2022
£
£
950
30,576
296,143
326,719
(29,191)
297,528
298,478
258,705
39,773
298,478
298,478
258,705
39,773
298,478

11

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN, TWICKENHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

________________

1 ACCOUNTING POLICIES

The financial statements have been prepared in accordance with the Charities Act 2011, the Church Accounting Regulations 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 102. The PCC is a public benefit entity within the meaning of FRS 102.

The financial statements have been prepared under the historical cost convention. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in 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.

Funds

Unrestricted funds are funds which can be used for the ordinary business of the PCC. It includes funds designated by the PCC for a particular purpose, as indicated by its name.

Restricted funds represent funds subject to specific restrictions as to their purpose. These funds may only be used for the purposes implied in the title of each restricted fund. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. Where restricted funds are not invested separately from other types of funds held by the PCC, interest is apportioned between funds based on the individual balance held.

Going Concern

There are no material uncertainties regarding the going concern status of the PCC.

Income

Planned giving, collections and donations are recognised when received. Income tax refunds are recognised when the incoming resource to which they relate is received.

Grants and legacies to the PCC are accounted for as soon as the PCC is legally entitled to the amount due provided its value can be determined with reasonable certainty.

Funds raised during HM the late Queen’s Platinum Jubilee Cerebrations and similar events are accounted for gross.

Rental income from the letting of church and hall premises is recognised when the rental is due.

Dividends and interest are accounted for when receivable.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN, TWICKENHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

________________

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure and the obligation will result in an outflow of funds that can be measured reliably.

Expenditure is accounted for on an accruals basis which will include VAT where applicable as this cannot be recovered.

Grants and donations are accounted for when paid over, or when awarded, if that creates a binding obligation on the PCC.

The parish contribution to the Diocesan Common Fund is accounted for when paid.

Support costs are allocated to the relevant activity cost category. As the amount of parish salary and office costs attributable to fundraising costs is negligible in value, however measured, the costs are allocated to church activities.

Fixed Assets

Consecrated land and buildings and moveable church furnishings

In so far as consecrated and benefice property of any kind is excluded from the statutory definition of charity by virtue of section 10(2) (a) & (c) of the Charities Act 2011, such assets are not capitalised in the financial statements.

Moveable church furnishings held by the vicar and Church Wardens on special trust for the PCC, and which require a faculty for disposal, are inalienable property listed in the church inventory (which can be inspected at any reasonable time). No value is placed on such items.

Expenditure incurred during the year on consecrated or benefice buildings and moveable church furnishings, whether maintenance or improvement, is written off as expenditure in the Statement of Financial Activities and separately disclosed.

Other fixtures, fittings and office equipment

Equipment costing in excess of £750 is capitalised and depreciated over its estimated economic life. Expenditure on assets costing less than £750 is treated as an expense of the year. Depreciation is provided at the following rates:

Equipment 10% per annum Computers 25% per annum

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY THE VIRGIN, TWICKENHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2 INCOME AND ENDOWMENTS FROM:
2a Donations & legacies
Planned giving
Gift Aid donations
Income Tax recoverable
Other planned giving
Collections
Donations, Grants
Income Tax recoverable
Legacies
2b Charitable activities
Church & hall lettings
Fees
2c Other trading activities
Fundraising activities -
Fete and other fundraising events
2d Investments
Dividends & interest
TOTAL INCOME		 Unrestricted Restricted
Funds
Funds
2023
2022
£
£
£
£
94,286
-
94,286
96,055
25,956
-
25,956
25,851
2,797
-
2,797
3,226
20,450
-
20,450
20,536
9,030
2,758
11,788
27,864
-
-
-
2,770
1,500
-
1,500
26,017
TOTAL FUNDS
154,019
2,758
156,777
202,319
69,321
-
69,321
56,904
5,238
-
5,238
6,426
74,559
-
74,559
63,330
20,892
-
20,892
4,998
20,892
-
20,892
4,998
5,532
-
5,532
1,185
5,532
-
5,532
1,185
255,002
2,758
257,760
271,832

14

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY THE VIRGIN, TWICKENHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

3 EXPENDITURE ON:
3a Raising funds
Fete and other fund raising events
3b Charitable activities
Missionary & charitable giving
Overseas:
Missionary societies
Relief & development agencies
Secular organisations
Ministry:
Contribution to Common Fund
Assistant Clergy housing & Ministry
Clergy expenses & housing
Church:
Property running expenses
Repairs & maintenance
Upkeep of services
Upkeep of churchyard
Sunday school expenses
Lay assistants, including choir
Church hall running costs
Parish Office costs
Depreciation
Governance costs
- Independent Examiner's fees
- Other professional costs
TOTAL EXPENDITURE		 Unrestricted
Restricted
Funds
Funds
2023
2022
£
£
£
£
1,279
-
1,279
769
TOTAL FUNDS
1,279
-
1,279
769
1,893
-
1,893
1,962
2,425
-
2,425
1,675
92,000
-
92,000
89,000
4,262
-
4,262
-
-
-
-
4,300
19,284
-
19,284
13,853
24,873
-
24,873
9,621
6,504
-
6,504
9,787
8,374
-
8,374
7,702
63
-
63
112
5,753
-
5,753
8,424
3,749
-
3,749
20,468
28,465
-
28,465
24,391
950
-
950
950
4,010
-
4,010
3,740
1,694
-
1,694
2,433
204,299
-
204,299
198,418
205,578
-
205,578
199,187

15

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY THE VIRGIN, TWICKENHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

4 Staff costs - unrestricted funds
Wages & salaries
Average monthly number of employees - administration		 2023
2022
£
£
26,309
22,593
26,309
22,593
3
3

The members of the PCC make up the senior management team and key management personnel for the current or previous year. No member of the PCC received any remuneration or other benefit of employment during the current or previous year other than noted in note 5 below.

5 Transactions with members of the PCC

Clergy expenses reimbursed to the Incumbent totalled £1,211 (2022 - £1,253).

Certain members of the PCC have been reimbursed for expenses incurred personally for and on behalf of the Church. In total these expenses amounted to £XXX in respect of six Trustees (2022 - £1,834, six Trustees)

Wages and salaries includes an honorarium of £3,950 (2022 - £3,565) paid to the organist.

Members of the PCC contributed, in total, £9,349 to the unrestricted and £420 to the restricted funds of the church during the year (2022 - £11,118 & £420).

Other than disclosed above, there were no related party transactions in the current or previous year.

6 Fixed Assets - unrestricted fund

Office equipment
Cost £
At 1 January 2023 11,271
Additions -
Disposals -
At 31 December 2023 11,271
Depreciation At 1 January 2022 (10,321)
Charge for year (950)
At 31 December 2023 (11,271)
Net book value At 31 December 2023 -
At 31 December 2022 950

16

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY THE VIRGIN, TWICKENHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

7 Debtors

2023
Unrestricted Restricted
Total
£
£
£
Income tax recoverable
19,077
367
19,444
Other debtors
17,494
-
17,494
36,571
367
36,938
8 Creditors - amounts falling due in one year
2023
Unrestricted Restricted
Total
£
£
£
Other creditors
31,969
1,825
33,794		 2022
Unrestricted
Restricted
Total
£
£
£
20,170
270
20,440
10,136
-
10,136
30,306
270
30,576
2022
Unrestricted
Restricted
Total
£
£
£
27,933
1,258
29,191

17

ST. MARY THE VIRGIN, TWICKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

9 Parish funds
Unrestricted
Designated funds:
Charitable Giving
Organ & Music Fund
Undesignated funds:
General
Restricted funds
Upkeep of Bells
Upkeep of Cemeteries
Upkeep of Garden of remembrance
Church Reordering fund
Organ & Music fund
Memorial Garden ramp
Total Funds		 Balance at 1
January 2023
Incoming
resources
Resources
expended
Fund
transfers
Balance at
31
December
2023
£
£
£
£
£
5,002
4,261
(4,318)
-
4,945
14,500
-
-
-
14,500
19,502
4,261
(4,318)
19,445
239,203
250,741
(201,260)
-
288,684
258,705
255,002
(205,578)
-
308,129
300
-
-
-
300
26
-
-
-
26
841
-
-
-
841
24,266
1,060
-
-
25,326
14,340
-
-
-
14,340
-
1,698
-
-
1,698
39,773
2,758
-
-
42,531
298,478
257,760
(205,578)
-
350,660

18

ST. MARY THE VIRGIN, TWICKENHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

9 Parish funds comparitives
Unrestricted
Designated funds:
Ministry & Youth
Charitable Giving
Capital Project
Organ & Music Fund
Undesignated funds:
General
Restricted funds
Upkeep of Bells
Upkeep of Cemeteries
Upkeep of Garden of remembrance
Church Reordering fund
Organ & Music fund
Total Funds		 Balance at 1
January 2022
Incoming
resources
Resources
expended
Fund
transfers
Balance at
31
December
2022
£
£
£
£
£
10,000
-
-
(10,000)
-
4,173
3,970
(3,637)
496
5,002
10,005
-
(6,011)
(3,994)
-
14,500
-
-
-
14,500
38,678
3,970
(9,648)
(13,498)
19,502
152,562
262,682
(189,539)
13,498
239,203
191,240
266,652
(199,187)
-
258,705
300
-
-
-
300
26
-
-
-
26
841
-
-
-
841
19,086
5,180
-
-
24,266
14,340
-
-
-
14,340
34,593
5,180
-
-
39,773
225,833
271,832
(199,187)
-
298,478

19

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. MARY THE VIRGIN, TWICKENHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

9 Parish funds (Continued)

Unrestricted Designated funds

The PCC maintains a number of designated funds. They have been set up to set funds aside to meet the aspirations of the PCC in fulfilling its mission statement and for the upkeep and maintenance of the buildings it is entrusted to manage and look after. The purpose of each fund is indicated by its title.

Restricted funds

Where funds are given to the church for specific purposes they are held as restricted funds until expensed in accordance with the terms of the restrictions attaching thereto. The purpose for which each fund is held is indicated by its title.

10 Analysis of net assets by fund

10 Analysis of net assets by fund
Fixed assets
Current assets
Current liabilities
Fixed assets
Current assets
Current liabilities		 Unrestricted
Restricted
2023
Funds
Funds
£
£
£
-
-
-
340,098
44,356
384,454
(31,969)
(1,825)
(33,794)
308,129
42,531
350,660
Unrestricted
Restricted
2022
Funds
Funds
£
£
£
950
-
950
285,688
41,031
326,719
(27,933)
(1,258)
(29,191)
258,705
39,773
298,478

20