The Parochial Church Council of the Ecclesiastical Parish of St Mary and St Ethelflaeda, Romsey Annual Report and audited Financial Statements for the year ended 31 December 2023 Contents Page Annual Report Independent Auditorfs Report Statement of Financial Activities 10 Balance Sheet 11 Cash Flow Statement 12 Notes to the Financial Statements 13 Correspondence Address The Parish Office, The Vicarage, Church Lane, Romsey, S0518EP Charity number 1133189 Website www.romse abbe .or Bankers TSB Bank PLC, Romsey, Hampshire CAF Bank Limited, West Malling, Kent Independent Auditors Knight Goodhead Limited, 7 Bournemouth Road, Chandler's Ford, Eastleigh, S053 3DA Throughout this document, thefull name of the Charity, given Gbove, 15 abbreviated to Romsey Parochial Church Council
Romsey parhla1 Chur¢h Councll Annual Report for the year ended 31 December 2023 Alms and purpose5 As a requirement of the Parothlal Church Councils (Powers) Measure 1956, Romsey Parochial Church Council IPCCI has the responsibility of co-operatin8 wilh the Incumbent, In promotlng In the parlsh, the whole mlsslon of the Church, pastoral, spiritual, evangelical, soclal and ecumenlcal. The PCC also has MaIntenan responslbllltles for Romsey Abbey, St. Swithun's, The Parish Office at the Vicarage, and Romsey Abbey Church Rooms. ObJ•ctl¥es and Actl¥ltSes The regular pattern of Sunday worshlp malntained at Romsey Abbey comprlses Holy Communlon at 8am, Sung Eucharlst at 9.'30am, Abbey Vine at 11'.15am and Evensong al 6.30pm. On the last Sunday of each month there is a celebration of Holy Communion according to the Book of Common Prayer IBCPI at 3:30pm followed by Parish tea. Special services are held for clvic events, youth and servlce or8an15atlons. St. Swlthun's. Crampmoor has one servlce every Sunday mornlng. On the flrst Sunday of each month it is Mornln8Worshlp whllst on the other Sundays it is a Eucharist with hymns. To cater for youn8 families, there are chlldren's actlvltie5 offefed each week durlng Abbey Vlne and on the first Sunday of each month the 'Shorter" Eucharlst In the Abbey Incorporates talk almed al all ages and worshlp songs as well as tradltSonal hymns. Singlng Story Tlme take5 place weekly at St Swlthun's. Crampmoor. Weekdays and Saturdays beBln wlth Mornln8 Prayer In the Abbey comblned wlth the Eucharlst lexcept on Mondays and Wednesdays). Evenlng Prayer Is now sald every day except on Sundays and alternate Thursdays when Choral Evenson81s sun8. There Is a Sun8 Eucharlst on major Holy Day5 and some Fe5tlvals. There15 also a Bereavement seNlce near to All Souls, Day at which those who have dled in the previous twelve months are speclfically remembered. On Holy Innocents Day, 28 Oecernber, a service Is held for those who have105t chlldfen or young people. A servlce for Romsey Abbeyschool Is held each term and a Holocaust Memorlal Servlce15 also held In conlunctlon wlth the School, Baptlsms are conducted on many Sundays In the Abbey and occaslonally at 5t Swlthun's, Crampmoor. The prepaTatlon for these services Includes the inlroductlon of a baptlsm vlsitor, whose role it Is to share wlth the famllles involved an under5tandln8 of the servlce Itself and more about the Chrlstlan falth, and Bapllsm preparatlon meelln85. Couples are prepared for Morrlage and bereavement care Ss offered followlng funerals through the Pastoral Mlnlstry Team. Ttmes of servlces and other events are publlshed In the weekly Bulletln, now dlstrlbuted by e.mall to over 1,000 reclplents, "Open Door" (the Parish Ma8azinel, the Romsey Advertlser and online on the Parlsh webslte and other soclal media. It Is POS51ble to contlnue wlth all these comrnltments thank5 to the whole cler6Y team, whlch Includes Self Supportln8 Mbnlsters ISSMI, Llcensed Lay Mlnlsters ILLMI and several other local Honorary Asslstant Clergy. There is a weekly meetln8 of the Baby and Toddler Group durlng the school term whlch worshlps monthly wlth a seNlte In the Abbey. A metJltallon group meets on Wednesday evenlngs In Wisdom House and several home groups meet regularly for worshbp and study. A number of soclal actlvities are offered, with regular parSsh lunches and teas, whlch are particularly valued by those who live alone. The Lislening Café was Inltlated durln8 2022 and meets on Wednesdav afternoons, offering an opportunity for support, friendshlp and a chat lo anyone wishlng to attend. The Abbey host5 manv communlty events, Includlng about 25 concerts each year by local sthools and music 8roup5 and other exhlbltlons, creatlve actlvltles such as "Art In the Abbrf and other events. In addltlon. a number of local sth0015 and charities held Chrlstmas Carol services or concerts in the Abbey durin8 December. Screens withln the Abbey are used not onlyto Incorporate visual material during regular worship. weddin8s and funerals, but also to improve vlsibllSty In concerts and servlces partlcularlv for the visually impaired. The Abbey is open for visitors every day until at least 5pm wlth volunteer stewards on duty from mld-mornlng to provlde welcome and answer questions. There were over 60,000 vislto¥s durin8 2023. The Trustees confirm that they have due regard to the 8uidance on public benefit issued by the Charity Cornffli55ion and consider that thi5 report explain5 how the actlvities of the Charlty provlde public beneflt. Page I
Romsey Parochlal Church Councll Annual Report for the year ended 310ecember 2023 hlevements and perfombance The full Paro¢hial Church Council hdd its regular six Meetfin during the year,- together with one addltlonal meetlng to deal with a sin8le item. Some SucoMMittee5 and workin8 groups continued to meet throughout the year, notabty the Flnancial Resource5 Committee, the Standing Committee and the Fabric Committee. Minute5 of these meetin8s are reviewed and matters arising are discussed where appropriate at PCC meetlngs. Summarles of the work of these Groups are reported to the Annual Parochial Church Meeting IAPCMI, which took place in May. Jane Ru55ell is the Electoral Roll Officer. The were 45112022: 4S41 parishioners on the Electoral Roll. The average 'ln person" Sunday attendance for Romsey Abbey durlng 2023 was 275 adults12022'. 2241 and 25 chlldren12022'. 201 wlth further 2412022- 231 adults worshlpping regularly at Sl Swlthun's. Crampmoor. In a¢Jdltlon. an estlmated average of 80 12022.. 801 Individuals viewed the Ilvfrstreamed service each week. During the year there We 38 baptlsms12022'. 501. 25 weddin8s12022.' 281 and 43 funeral$12022= 271 in the Abbty. with no baptism$12022- one) and two fvneral$12022- one) at Sl Swlthun's as well as 23 funeral servlces at a crematorium or cemetery taken by der8y from the parish12022: 271. In February, Robyn Cleveland. Verger, moved to Exeter Cathedral. At the start of June. Chrls Harpham. Verger from 2007 untll 2015, returned to Romsey as Head Verger to replace her following a period as Chapel Keeper at the Guard's Chapel In London. In the Parlsh Office, Stefan Wllmott moved on and was replaced by Jane O'8rlen. Rhiannon Wllmott, Chlldren and Farnllles worker left at the end of May prlor to her ordlnatlon at Wlnchester Cathedral at the start of July. She was replaced on a part_llme basls bysyrone Dore. Inltlally temporarlly, bui permanently from December wlth Rosy Payne beln8 appointed as a part-tlme Youth worker. After a period durin8 which David Auger, Churchwarden wa5 acting as Safe8uardln8 Officer, Sarah Riley was appolnted to the role. At the start of September, the Assistant Curate, Reverend Lee Thompson, moved from the Parlsh to become Vicar of Lymin8ton. The Parlsh also welcomed Edward Bence as Organ Scholar untll September, when he moved to Oxford to be one of the Organ Stholars at Orlel Colle8e. Review of the Yeor How tlmes changel In 2022 we were stlll thlnklng about Coronavirus and hand sanltlzlng statlons remalned In the Abbey. In 2023 we have moved away from these precautlons and although Covld-191s sllll around111s treated as a general vlrus and not a specffic threat. Durlng the course of the year there have been slx full PCC meetln8s. The PCC re¢eive Committee mlnutes from the various PCC committees to obtaln an overview of what Is belng undertaken in Its name. There has not been a full complement of PCC member5 for a number of years $0 any reader who wtwld like to become involved Is asked to make contact wlth the Churchwarden5. Lunchtime recltals continued throughout their season with a ran8e of genre and musiaans and were well attended. The Eplphany Glft Servlce took place in January and, as usual, the congre8atlon was generous wlth donatlons of glfts for local chlldren and projects supported by the Children's Society. As the observant vlsltor to the Al>bey wlll have seen, the effigy of Allce Taylor at the west end remalns ralsed In an attempt to stablllse the ¢on(Jilion of the plasier. This work wlll be reviewed by the ¢onserv3tionlst Peter Martindale In 2024. Prior to the APCM in May 2023, the revlew of the Elector31 Roll took pla¢e. Regular worshippers arè en¢oura8ed to be member of the Electoral Roll not least be¢a4tse anyone seekin8 elertion to the PCC need5 to have been on it for six month5. Servlces contlnue to be streamed and ewelS owe a debt of thanks to the Rom5ey AbbeyTechnlcal team for thelrsklll and flexibility in bringing worship into our homes. The Abbey Net Zero Carbon group has bÈen busy monttorlng the enwronrnental wnditions inside the Abbey in the hope that the information collected will help inform the next steps in choosing a low carbon heating system. In Aprll, the Vlcar was made a canon of Winchester Cathedral. Page 2
Romsey Parochial Church Councll Annual Report forthe year ended 31 December 2023 Achlevements and performance (continued) Review of the Year fcontinuedj On Saturday 6 May there were national lebratIonS for the Coronation of HIS Majesty King Charles111. The followlng day the Parish lebrated with a combined morning Service followed by a plcnlc in the south Garth- and the sun shonel The Bellrlngers also attempted and were successful in ringing a peal to honourthe Coronatlon of the Klng. Rhlannon Wilmot, Children and Familie5 Worker, wrote a heart-warming accLFunt of her time in the Parish in the May edition of Open Door, giving an account of the work with which She had been Involved with slnce comlng to Romsey In December 2016. We wish Rhiannon every success in her new role as ASSiStsnt Curate at in the Parish of St Matthew and St Paul in Winchester following her ordination in July 2023. We wish Rhiannon, her husband Stef and her family much happiness In thelr new surroundings. 2023 was a year In whlch the triennlal Romsey Festival took place. The Festival ran from I" to 16th July during which time the Abbey hosted six conterts and three exhibition5 including the always fasclnating display of quilts. It is estimated that more than 10,000 people visited the Abbey during the Festival, brlnglng the total for the year to over 60,000. Durlng the Summer there was an excltlng development for the South Garth when a team from Speaking Spao started wèekly visrts to help Sue Lloyd who oversees the gardening work for us. Speaking space Is a day service for adults with leaining disabilities. They helped with general garden Maintenan and planting and have learned valuable skllls, new experiences and responsSbllltles. In September the Vlcar, Thomas, visited Burundi wlth other5 from the Diocese of nChester and found a warm welcome and joyful worshlp. Thoma5 gave an account of his trip in the Ottober 2023 edition of Open Door. Subsequent to this vislt in Novemberthe parish welcomed the Reverend Eustache Meryango who was visltingthe UKto recetve his Masters Dee In Mlssion from the University of Winchester, which the Parish had supported through its mission 8ivin8. In October, the annual Ethelflaeda Lerture was given by Caroline Nokes, MP for Romsey and Southampton North, who spoke of her role (Sin May 20201 as Chair of the parliamentary Women and Equallties Committee. Thè approach through Advent to Christmas was busy Wlth 50 many joyful and excltlng opportunltles to worship and to enjoy the season of preparation for Christmas. A Ion8-St8ndin8 and notable part of parish life came to an end on Sunday 31 December 2023 when the weekly envelope 6VIng schernewas phased OUL The number of donors using this scheme had slowly decreased over recent year5 wlth most previous contributors now using the Parish Givlng Scheme or making donations at our cashle55 donation points In the Abbey. The enormous success of holding the Chrlslmas Fair in the Abbey for the second time wa5 a greatjoy. Agaln thts was a real wlnner both In the comrnunlty splrlt It engendered and the money raised. Plans for the Future In addityon to the 518nificant tssk of maintainin8"business as usual" In a Parlsh which now has a populatlon of 20,0(K), It Is hoped thatthe appo5ntment of a Youth workerwill lead to the restartinE of the Parlsh Youth Group, whlch last met before the pandemic. The new Children and Familles worker has also started two new groups for young thildren based at St Swithun's Church. Bullding projects are belng dlscussed. wlth the alm of provldlng additlonal facilities fortheAbbey and to redu the carbon footprint of the various propertles used by the Parlsh. Page 3
Romsey Parochial Church Council Annual Reportforthe year ended 31December2023 Flnanclal Rwlew Total income on unrestrlcted funds amounted to E476,87912022: £490,225) of which £71312022.. £7591 was Investment income generated by the designated capital fund. No unrestricted legacy Income wa5 received in 202312022.. £6,693). If capltal fund Sncome and leBacles are excluded from a year-on-year comparison, general fund incorne shows a decrease of £6,607 to £476,166 from £482,773. In 2022 a one-off grant of £55,000 was recelved from the Culture Recovery Fund for building reseNes following the Covid-19 pandemic. If thls is excludèd from 2022, incorne increased year on year. Followlng the decislon that the Trustees took In 2012 all legacles received were allocated to the Capital Fund, although as nonè were recefved In 2023 the only source of income ftsr the Fund during the year was the Investment income noted above. The year-end balance5 of the various restricted funds increased by £85,909 durlng the year, largely as a result of the Increase In the year-end valuation of investments. Reservespolicy At the end of the financlal year the PCC held total funds of £4,089,75312022'. £3,741,930), of which £728.41412022- £642,505) were restrlcted and £2,936,53812022.' £2,682,Tr)21 were endowments all of whlch were therefore not available forthe general unrestrlctèd use of the charity. The restricted funds were for linterolAO} the mainterhance of the fabric and organ of RomseyAbbey, the fabricof St 5withun'5. and are unlikely to be disbursed to a 51gnlficant extent In the foreseeable future, as well as some other items, whith will be disbursed in the next few years. Further fvnd5 Wlthin the total were designated by the PCC for the specific purposes but could, if the PCC so chose, bè undesignated and used for its Eeneral purposes. Whilst no formal date ha5 been proposed for the use of these designated funds. they are deslgnated for specific proletts as explalned in note 8 of the financlal statements. The PCC'5 long-term flnancial objective is to maintain the Capital Reserve Fund within the range of £280,000 to £300,CXJO (the level beforè it had to be used to 5UPPOrt the day to day running costs of the parlsh in the first decade of thi5 century and the construttion of the enlarged parish office in 20081 so that if malor repairs or other expenditure become urEenL they can be undertaken swiftly. The PCC also has a long-term objective of holdlng freè resèrves Ithe balance on the General Fund less investments a5 defined by the Charlty Commisslonl of beeen 3 and 6 month5 budEeted annual expenses, to guard against normal fluctuations in day-to-day income and expense5. At the year-end these operatlng reseives were £106,226, slightty less than the target ranEe of £IIOk £220k. It remains the objective of the PCC to increase these reserves gradually in the medium term. Given the purposes for whlch restricted and designated funds are held, Investrnents are almost exdusively in CBF Church of England funds administered by the CCLA Investment Management Limited. Structure, Governance and Management The method of appointment of PCC members is Set out in the Church Representatlon Rules. The PCC consists of the Incumbent Ithe Vicar), and other clergy including the Associate Priest and Asslstant Curates (both stipendiary and non- stlpendiaryl, the Churchwardens, the Licensed Lay Ministers (Reader) and others who are elècted bythose who are on the electoral roll. In addition, those who represent the Parish on the Deanery Synod are all members of the PCC ex-officio. PCC members are iesponsible for making decisions on all matters of Èeneral concern and irnportance to the parish and have legal responsibilities for en5urin6 that the PCC operates only within its powers. New members of PCC are Blven information about the activilies and purposes of the PCC and existln8 members are reminded of these matter5 at the tlrst meetlnB of each year after the APCM in April. Pa8e 4
Rom5ey Parochial Church Council Annual Report for the year ended 31 December 2023 Structure. Govemance and Management Icontlnuedl Risk Monogementondsoftguarding The Trustees confim7 that they have considered the major risks to whlth the PCC may be exposed and have taken steps to manage those risks. The PCC maintains an attive rk register. whlch is formally reviewed at least once each year. Significant individual risks are assessed for likelihood and irnpacl after relevant mitigation actions have been taken. Each risk ts assigned to an individual or PCC committee to 'own' and monitor Tegularty. The key risks after mitigation are.. fallure to generate suffFcient income to meet all contracted costs- failure to maintain a55ets: loss of key people: and breach of data integrity rules. During 2023 the PCC reviewed and updated Its succession plan and prepared buslness ojntlnulty Idlsaster recoveryl plans for Its varlous bulldlngs. The PCC complies wlth Its duty to have due reKdrd to House of Bishops, guidancè on safe8uardin8 thildren and vulnerable adults. Subcommittees At the end of March 2024, the following committees were operational.. Standin8 Iwhith is the only committee requlred by statutel,. Church Rooms,. Abbey Net Zero Carbon Group- Fabric,. Finanaal Resources- Friends of Romsey Abbey Music,. Health & Safety,. Magazine.. and St. Swithun's. The former Soaal Committee was disbanded towards the end of 2023. Some of these committees indude t(opted member5 who are not membefs of PCC. Named individuals have speclflc responsSbllities for matters such as Safeguarding and report directly to thewicarand Churthwardens. All of thecommittees and other associated organisations present a report Coveri theyearfs 3ctfvttie5to theAPCM. The PCC is also represented on the Ecumenlcal organisation "Churche5 Together in Rom5ef. In addition, there are weekly meetings of the Minlstry Team and thè Vicar and Churthwardens, although these groups do not report to the PCC Responslbllltles of the PCC In latIon to the Anandal Ststements The PCC Member5 are responsible for preparing the rèport and the finanaal statements in accordano with applicable law and United KinBdom Accounting Standards (United KinBdom Generally Accepted Accounting Practice). The Charities Art 2011 requlres the Trustees to Prepa financial statements for each finanaal yearthat give a true and fa(r view of the state of affalrs of the charity &5 at the balance she date and of its income and expenditure for the financial period reported. In preparing those financial Statements, the PCC should follow best practio and= selert sultable a¢couniing policies and then apply them consistently- obSee the methods and principle5 in the Charities SORP- rnakejudgments and estimates that are reasonable and prudent: state whether applicable UK Accounting standards have been followed. subjert to any material departure5 dlsclosed and explained in the finanaal 5tstements: and prepare the financial 5tstements on the going concern basts unless it is inappropriate to assume that the thaTity wi51 continue on that basis. The PCC Members are responsible for maintsinin8 proper accountlng records which dsdose with reasonable accurary at any time the flnandal posltion of the charity and to enable them to ensure that the financial statements comply with the Charities Act. The PCC Members are also rèsponslble for safeguarding the assets of the Charlty and for taking reasonable steps for the prevention and detection of fraud and other irregularities. The PCC Members are a150 responsible for the contents of the Annual Report, andthe resporLsibility of the auditors in relation tothe Annual Report is limited to examinlng the report and ensuring that, on the face of the reporL there are no inconsistenues with the figure5 disclosed in the financial statements. SO far as each Trustee is aware. there is no relevant audit information of which the charivs auditors are unaware, and each Trustee has taken all the steps that they OUBht to have taken as a Trustee to make themselves aware of any relevant audit information and to estsblish that the charivs auditors are aware of that information. Page 5
Romsey Parochlal Church Councll Annual Report for the year ended 310ecernber 2025 Admln5stratlve Informatlon The Ecclesiastical Parish of Rom5ey is part of the Diocese of Winchester withln the Church of England. The PCC Is a corporate body Ipcc Powers Measure 1956, Church Repiesentatlon Rules 20221 and a charity re8lstered wlth the Charity Commlsslon. The Informatlon on the front page fomL4 part of thls reporL The Parochial Churth Councll MprISeS either lal ex-offi¢io mernbers or members elected by the Annual Parochial Church Meeting and Ibl co-opted members. All mefflbers of the PCC are Trustees of the Charfty. The Indlvlduals 1Ssted below served on the PCC for the whole of the pertod from I"January 2023 to 17 Aprll 2024 unless Indlcated otherwlse elther by the end of the terni of office or resignation. car Revd. Canon Thomas Wharton As50date Prle51 Revd. Sally Womersley Asslstant Curates Revd. Lee 7hompson luntll August 20231 Revd. Paul Hollingworth (Self-supporting Mlnlsterl Revd. Flona lenvey ISelf-supportln8 Mlnisterl Revd. Dr. Mlch Lajeunesse Iself-supportlng MlnL51erl Mlss Julle Carlton MBE Mi David Au8er Chur¢hw¥rdens Deanery Synod Mr5 Addenne Mordan, Mlss Julie Carlton and Mrs Ellzabeth Wagner. Mlss Dlane KlnBston served from 21" May 2023. Dr Patricia Brown. Mrs Patrfcla KeTTldge and Mi Anthony Cross served untll 21° May 2023. The current terms ol office of the Deanery Synod Representatives temilnate at the 2026 APCM. Counclllors Name Mrs Janlce Bartlett (from 21° May 20231 Mr Rl¢k Beton (from 21" May 2023) Mr Davld Blbby luntil 21° May 20231 Mr James Hartley-Blnns (from 21° May 20231 MrThm Edmond5 Mr Paul Ellls luntll 21° May 20231 Mrs Dlane Hargreaves Mrs Jill Thornpson-Hall (from 21 May 20231 Mlss Chloè Jenvey luntll 21° May 20231 Mr David Johnson MrAndrew Keellng Mrs Pam Leech IPCC Secretary) Mr Rhys Lewls Mr5 Valentlne Llnes (from 211t May 20231 Mr Richard Pratt (from 2111 May 20231 Mr Paul Quinnell luntil 21° May 20231 Mr Martin Seymour End of term APCM 2024 APCM 2024 APCM 2026 APCM 2025 APCM 2024 APCM 2026 APCM 2024 APCM 2025 APCM 2026 APCM 2025 APCM 2026 APCM 2026 APCM 2024 mothy Rogefson FCA serves as Treasurer to the PCC. although he Is not a Trustee and does not vote In PCC meetlng5. Approval Thls report was approved by the PCC on i* Aprfl 2024 and Is siqned on Its behalf by: Mrs P Leech Trustee and Honorary Secretary to the PCC Page 6
INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF ROM5EY PAROCHIAL aiuRCH COUNaL Oplnlon We have audlted the financial statements of Romsey Parochial Churth Counal (the "Charttfl for the year ended 31 December 2023 which comprlse the Statement of Finanual Activitie5, Balan Sheet, Cash Flow Statement and notes to the financial statements, includinB a summary of signtficant accountin8 policies. The financial reporting framework that has been applied In thelr preparatlon Is applicable law and United Kingdom Accounting Standard5, Including Flnanclal Reportlng Standard 102.. The Flnonclol Reportlng Stondord opplict7ble in the UK ond Republic of Irelt7nd Iunlted Klngdom Generally Accepted Accountlng Practlcel. In our opinion. the finanaal 5tatements.' glve a true and falr view of the state of the Charitvs affalrs at 31 Drnber 2023 and of Its Incomlng resources and appllcation of resources for the year then ended: have been properly prepared In accordance wlth United nsdoM Generally Accepted Accountln8 Practice,. have been prepared In accordance wtth the requlrements of the Charltles Act 2011. B8$1$ for oplnlon We conducted our audlt In accordance wlth Internatlonal Standards on AudltlnB IUKI IISAS IUKII and appllcable law. Our responslbllitles under those standards are further described in the Audltorfs responslbllttles for the audlt of the flnanclal statements section of our report. We are independent of the Charlty in accordance with the ethlcal requlrements that are relevant to our audlt of the financlal statements in the UL includlng the FRCS Ethical Stsndard, and we have fulfllled our other ethlcal responslbllltles In accordance wlth these requlrements. We believe that theaudlt evldeno we have obtalned IS 5ufficlent and approprlate to provlde a basis for our oplnlon. Condu51ons relatlnB to plnl COnM In avdltlng the flnancial statements, we have concluded that the tru5tee< use of the goln8 concern basls of 3ccountlnB In the preparatlon of the financlal statements Is appropriate. 8a5ed on the work we have performed, we have not Identlfied any materlal uncertaintles relatlng to events or condltlons that. Indtvldual or colledively, may Cast $18nlficant doubt on the Charlty's ablllty io Contlnue as a 8olng concern for a perlod of at least twelve rnonths from when the financlal statements are authorlsed for Issue. Our responslbllltles and the responslbllltles of the trustees wfth respect to golng concern are descrlbed In the relevant sertlon of thls reporL other Informatlon The trustees are responslble for the other Informatlon. The other Inlomiatlon comprlses the Infomiatlon Included In the annual report, other than the finandal Statements and our audltorfs report thereon. Our oplnion on the flnancial statements does not cover the other Informatlon and. except to the extent othen¥ise explldtly stated In our report, we do not express any fom of assuran conduslon thereon. Ouf responslblllty 15 to Tead the other Inforrnatlon and, in doing so. conslder whether the other InfoTmatlon Is materlally Inconslstent with the financial statements or our knowledge obtained in the course of the audit. or otherwlse appears to be ma¢erlally mlsstated. If we Identlfy such materlal inconsistendes or appant materlal mlsstatements, we are requlred to determlne whether therels a materlal mlsstatement In thefinandal ststements or a materlal mlsststement of the other Inforrnatlon. We have nothln8 to report in thb regard. Matters on whlth we are requlred to rem by ewptlon In the li8ht of the knowledgè and understanding of the Chartty and its environment obtained in the course of the audit. we have not Identlfled materS3l mlsstatements in the Trustees. Annual Report. We have nothlng to report In respect of the followlng matters In latIon to whS¢h the Charftles (Accounts and Reports) Regulatlons 2008 requlre us to report to you If, In ouroplnlon". the information given in the trustees. report is Inconsistent in any material respect with the financial 5tatements,' or sufficlent accountrn8 records have not been kept," or the financial statements are not in agreement wrth the accountin8 records: or we have not obtalned all the Snformatlon and explanatlons necessary for the purposes of our audlt. Page 7
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ROMSEY PAROCHIAL CHURCH COUNaL (contlnuedl Responslbllltles of the trustees As explalned more fully In the trustees, responsibllities statement, the trustees are responslble for the preparatlon of the financial Statements and for belnÉ satlsfied that they give a true and fair view, and for such internal control as they determine 15 necessary to enable the preparation of financial statements that are free frorn material mi55tatement. whether due to fraud or error. In preparing the financial 5tstements, the trustee5 are re5pDn5ible for a55e5sing the ChariVs abilityto continue as a going concern, disclosing, as appllcable, matters related to going conrn and using the going concern basls of accountlng unless the trustees esther Intend to Ilquldate the Charity or to ase operatlons, or have no realistlc altematlve but to do so. Audltorfs responsibilities forthe audit of the financial #atements We have been appointed as auditor under Section 144 Charities Act 2011 and report in accordance with the Act and relevant regulations made or havin8 effect thereunder. Our objectlve5 are to obtain reasonable assurance about whether the financlal statements as a whole are free from material mi55tatement, whether due to fraud or error, and tolssue an auditorfs report that Includes our opinion. Reasonable assurance Is a high level of assurance, but 15 not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Mi5Staternents can arise from fraud or error and are considered material if, individually or In the aggregate, they could reasonably be expected to Influence the economlc declslons of users tsken on the basls of these finanual statements. Irre8ularities, including fraud, are instances of non-complian with laws and regulations. We desi8n procedures In line wlth our ¥esponslbllities, outlined above, to detect materlal misstatements In respect of IrreÈularities, includingfraud. The extent to which our procedures are capable of detecting Irregularltles, Includlng fraud Is detailed below: The engagernent partner ensured that the engagement team collectively had the appropriate tompetence, capabilities skills to identify or reco8ni5e non-compliance with applicable laws and regulations. We Identified the laws and regulatlons applicable to the Charlty through dlscusslons wlth the trustees and other management and we assessed the extent of compliance with the law5 and reBulation5 identified above through making enquiries of mana8ement and inspecting le8al corresponden. We assessed the susceptibility of the Charl5 financial statements to matertal mlsstatements, Indudlng obtalnlng an understanding of how fraud might occur, by making enquiries of management as to where they considered there was 5U5ceptibillty to fraud, their knowlèdge of actual, suspected and alle8Èd fraud and nSideringthe internal controls in pla to mitigate risks of fraud and non-complian with laws and regulations. To address the risk of fraud through management bias and override of controls, we performed analytical procedures to Identify any unusual or unexpected relationships, lested journal entries to identify unusual transactions and investlgated the rationale behind slgnificant or unusual transaction5. In response to the risk of irregularitles and non-complian wlth laws and reBulations, we designed procedures which included, but were not limited to.. agreeing financlal statements disclosures to underlylng supportin8 documentatlon; reading the minutes of meetings of those charged with governance; and enquirin8 of mana8ement as to actual and potential litigation and claims. There are Inherent limitations In our audit procedures descrtbed above. The more removed law5 and regulations are from financial transactions, the less likely it is that we would become aware of non-cornpliance. Auditing Standards also limit the audit procedures require to identify non-compliance with laws and regulations to enquiry of the trustees and other management and inspection of regulatory and le8al corresponden, If any. Material m15Statement that arlse due to fraud can be harder to detett than those that arise from error as they may Involve deliberate concealment or collusion. Page 8
INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF ROM5EY PAROCHIAL CHURCH COUNaL (continued) Audltoes responslbllltles forthe audlt of the finandal ststements {wntinuedl A further description of our responsibilities for the audit of the financial Statements is located on the Financial Reporting Council's website at= www.frc.o auditorsres onsibilities. This desuiptlon forms part of our auditorfs report. Knight Goodhead Lirnited eligible for appointment as auditor of the thafity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Art 26. Use of our report This report 15 made solely to the (haritvs trustees. as a body. In accordano with sectTron 144 of the Charities Act 2011 and the regulatlons made under 5ettion 154 of that ACL Our audit work has been undertaken so that we miBht state to the Charitys trustees those matters we are required to stste to them in an auditorfs report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assumè responsibility to anyone other than the Charity's trustees as a body, for our audit work. for this reporL or for the opinions we have fometl. CJ Goodhead FCA 5enlor Statutory AudFtor Knight Goodhead knmlted Chartered Accountants and Statutory Auditors 7 Bournemouth Road. Chandlerfs Ford, Eastleigh. Hampshlre, S053 3DA Dated: (É g¥fJ Lolfr Page 9
Romsey Parochlal Churth Coundl Statement of Flnanclal Attlvltles forthe year ended 31 Decembèr 2023 Notes ZOZ3 Vnrestrlded Funds 2025 Resirfrted Fuhd$ 2023 Endo¥m*nt Funds 2023 Totsi Funds 2022 Total Fund5 In<om¢ •nd endowm¢ntsfrom Donatlon5 and legacle5 Actyvltles for generatln8 funds InLvme from church attltIeS In¥estment Income 290,697 46.829 $1,091 88.262 48,425 16,074 20.288 15,002 339,122 62,903 71.379 103,264 360,495 48,218 66,169 98,072 Zb 2¢ 2d 476,879 99.789 576,668 572,954 Empendlture on Church èctlvltle5 Fundr4lslng costs 473,719 683 44.851 8,051 518,570 8,734 505,SXJ8 8,877 Ib 474,402 52,902 527.304 514,785 Net In¢ome b¢fw¢ Investment g4lns Z077 46.887 49.364 58,169 Galns and losse5 on Investment5 2.778 4J.145 254,536 298,459 1424,7711 N•t In¢ome belor¢ tr•rtsf•rs 5,255 88,032 254,536 347,823 1366.6021 Tran5hr b•tween funds 2,123 12,1231 Net movamant In fund5 7,378 254,536 347,823 1366,6021 Fundsbrou8ht forwird at ljanuary 2023 417,423 642.505 1682,002 3,741.930 4,108,532 Funds carrted foNafd at 31 December 2021 424.801 718,414 2,936.538 4,089,753 3,741,930 The notes on pages 13 tts 25 form part of these flnan¢lal statements Paue 10
Rornsey Pdrochial Church Countsl alan sheet as at 311?rnber 2023 2022 2022 Flxed a55ets Investments 3A95,455 3.188.745 Current a55ets Sto& Debtor5 Cash at bank and In hand 10.691 114.953 521.223 IL493 113.465 492.628 617.586 Cfedltors: amountsfa1llue wlthln eyear 5U69 64,401 Net CeTht assets 594.298 553,185 Net assets 4.089.753 3.741.930 Funds Unrestrfcted funds General fund BTratedfund5 115.478 309323 93,855 323.56B 424.801 417,423 EndgwtnerrtfuS Restricted funds 2.936.538 728.414 1682.002 642.505 Total funds 4.089.753 3.741.930 Approved by the Parochial Churth Counal on 17 April 2024 and gned on its behaff by- dL"c The Reverend Canon T G Wharton Vlcar Mlssj fzrlton MBE The notes on pages 13 to 25 fom part ofthese financtal statements Pa8e 11
Romsey Paro¢hlal Chur¢h Q)uncll Cash Flow Statement for the yèar ended 31 December 2023 2023 2023 202Z 2022 Nel ush from oper•tlns•rtlvJtle5 Ibelowl 166A181 146,0511 sh flowslrom Investlngactlvltles DlvldÈnds and Interest from InvÈstments and deposlts Purchase of flxed asset Investments 103,264 18,2521 97,632 19,6141 Net ush provlded bylnvestln8 i¢tl¥llles 95,012 88,018 Change In cwsh and cash •qulvalents In the year 28,59S 41.967 Co5h and c05h equfvalents at l JInU 2023 492.628 450,661 osh Ind cash equlval8nts èt 31 December20ZJ 521,222 492.628 The chartty had no debt iteltherthe beilnnlngortheend ofihE year. Recondllatlon of net Income before Investment yln5 to net ash provldad by operatln8 idfvltlas Nqtlncom• belor• Inve5tmentiilns 49,364 58,169 Adjustments for: Dlvldendsand Intere5tfrom Investments Iincreasel In debtor5 Decrease In stocks IDe¢rease)nC$e In credltors 1103,2641 11,4881 802 111,8321 198.0721 140,2621 17 34,097 N•tush u5qd byopqr4tln84ttlvltles 155,4181 146,0511 Analy51s ot Cash and rash equlvalents Cash at bank and In hand 521.Z23 492,628 Page 12
Romsey Parochlal Church Coundl Ngtes to the Flnandal Statements forthe year ended 31 Derntser 2023 l. Accountlng pollcles The finanoal statements have been prepared underthe Churth Accounting Regulat6ons 2CQ6 In accordance with applicable accounting 5tandard5 and the currentstatement of Recommended Praetice. Accountin8 and Rèportin8 by Charities, and Accounting Standard FRS 102. The finanoal statements have been prepared under the historical costconvention exceptfor the revaluation of fixèd asset Investments. The financial 5taternents indude all transactions. assets and liabilities forwhith the PCC is responsible in law. They do not include the accounts of church group5 thatowetheir main affiliation to another body orthose that are informal gatherin85 of Churth rnembers. The PCC is a corporate body and a tharity wirtered with the tharitycommisslon in England and Wales. The PCC'S Registered Office 15 The Parish Offi. The WKzra8e. Churth Lane. Romsey, $0518EP. The PCC is a public benefit enttty as defined by FRS 102. Funds Unrestrirted funds represent the fund5 of the Pccthat are not subjert to any restrictions reBarding thelr use and are available for applTcation to the geneTrl purposes of the PCQ Funds designated for a partiojlar purpose by the PCC are also unrestricted. Restricted fund5 represent the funds of the PCC that onty be spent on the specifie purpose for which they were gNen. Any balance remaining unspent on a restricted fund atthe end of a year must be tarried forward as a balance on that fund. Endowmentfunds are restricted thJnds that must be retained as trusttapStal. Full deiails of all fullds are shown note 8. Income Collertions are recogni5ed when the funds are reteNed byoron behalf of the PCC Funds reIVed as planned 8iwng are recognised when reed. Income tax recoverable on covenants or gift aid donations is reco8ntsed when the income to which tt relates is recognised. Grants and legacies are accounted for a5 soon a5 the PCC ha5 been informed of its le8al entitlement and the zrnount to be received can be measured reliably and reIpl is deemed probable. All incomln8 resourcès are accounted forgr Rentsl Income from the letting of thurth Premises Is recognised when the rental Is due. Investment incorne is accounted for when receivable. Reso(Jrce5 expended Grants and donadons are accounted forwhen paid orwhen awaxded rfthe awarding creates a binding obligatiorb on the PCC Payments for the DiOan commC Mission Fund Ipreviousty called "share. and"quots'l are ac£ounted forwhen payable. Other expendlture Ss reco8nlsed when ff¢ 15 Incurred and 15 accounted forgross. VolunteerHelp No attempt 15 madeto quanttrfy the value of voluntary help. butthe slgnlfi(ant contrrbutlon of Voluntee 15 descrtbed In the Trustees, Annual Report. Page 13
Romsey F¥ro¢hbal thur¢h Coundl Notes to the Flnandal Statements for the ended 31 December 2023 l. AccountSn8 polldes Icontlnuedl Penslon costs The PCC contribvte5 to a deftned contrSbution penslon scheme. C0ntrfbUft$ payable tothe pension 5theme are charged tt> the Statement of Financial ArtivJties In the period to which they relate. Flxedossets Con5Ècrated and bèneficed property is not induded in the finandal statements In accordance wlth the Chadtyes Act 2011. No value Is placed on movable thurth furnlshing5 held by the thurchwardens on sp*¢ial trust for the PCC which requlre a faculty for di5POsal since the PCC wnwders this to be inalienable property. All expendlture Incurred dtsring the year on conseuated or beneficed property whether as malntenance or Improvement15 Included wlthin resources expended Sn the Statement of Flnandal Actlvitles. Equipment Used withln the church PTem15es or parish Offi is only capltallsed trthe cost exceèds £Ith. Investments Investments are valued at market value at 31 December. R•allsed ylns and losses are re¢o8nlsed when Investments are sold. Unreollsed 8alns and10s5es are Kcounted for on the alUatIon of Investments annually at 31 December. Cuffent ossets Amounts owed to the PCC at 31 December In respect olfees and othèr Income are Included In the flnandal 5taternents 05 debtor$1è5s prov151on for amounts that in the opinion of the PCC may prove uncollertable. Cash ot bank and In hand Includes ¢ash held on deposlt * a bank Stock Is stated atthè lower of cost and net reallsable value. Golng Concern TheTrustees have con51dered future expècted tash flows and consider that the PCC 55 able to meet its flnanScal obll8attons for the foreseeable future, that Is. at least one year. from the approval of the flnandal statements. The Trustees therefore consider It approprlate to prepare the finanual Statements Dn the 8oln8 conrn basls. Pa8e14
Romsey Paro¢hkl thur¢h Coundl Note5to the Finandal Statements forthe year ended 31 Oecemtw 2023 2. Income and endov•Tronts Lknrestrirted AÈstrirted Endowment F0$ nds Fund5 Totsl Fltnds Tot81 Funds a) Donatlons and le£ade5 Planned glvlng Inco tsx reCO[ae Collettions at5ervices other grants and donatlonslTh)le 121 F4brlcfvnd 8rantsanO don10$ Leycle5 158.966 44.64S 34.3c41 52.778 3.713 162.679 44,645 35.143 91.947 4.708 159,355 43.050 27.151 117.407 6.839 6,693 835 39,169 2.69? 48.425 339,122 360,495 blAdlIeStar pieratlry luhds Chr15tma5 hlr Soclal Commlttee & Chrlstmascords 5tSwlthuns' attfviues deoteam Glftstall sales Mu51c In Romseyfees Church rooms Income Otherfundral*n8 7W3 3.142 7,853 3,142 3,227 520 5,245 8.547 L2.865 8.566 2.762 6,860 11,809 14.911 11.204 7.124 14.911 11.204 2.859 4.265 46W9 16,074 62.903 48,218 cl Intomefrom Churth acutIeS Candles Fee5forCorol Seces Padsh Ma8è21ne Income 8ookst•ll leS Other church idlvltles Fees for Church Serylce5 3.211 7.778 3.21] 7,778 6,835 5.724 15.269 32.562 3,434 5,8&J 8,228 4.220 15.748 28,679 6.835 5.724 7.729 32,562 5L091 20.288 71,379 66,169 dl Investment Inc¢>me Interest CeIv¥ble DldendS and dlstrfbutton5 7,123 8L139 671 14.331 7,794 95870 1.526 96,546 88,262 15x112 103.264 98,072 Totsl Incomkn8 rqwurces 476,879 99.789 576.668 572.954 Pa8e 15
Romsey Parochlal Church Coundl Notè5 to the Flnantlal Ststements forthe year ended 31 December 2023 3. RexwTce5 expended 2023 Unreslrlcled Funds 2023 Re5trtcted FyDd$ 2023 Ettdrmment Funds 2022 Totsl Total Funds al Church artlvltle5 MISOnary and Charftsble81n8 Payments to Dlecese car's expenses orher cler8y expenses Offi costs Abbey heafjng Abbey Ilghfjng Ablw ill5UTance st SwSthun's expenses Repalrs and secur Oan iunlng and malntenante Cleanin8. water and Churchyard Church 5ervlce cc5ts 8ookstall purchases Educatlon and tralnlng Abbeyschool insur8n¢e Church roomsexpenditure 5al4Ties Fabric and Capital expenditure Cholr and mu51C Parish Mègazlne costs otherexpendlture (note 121 18,774 164.21B 16 1.137 11,327 25,406 20,404 16.934 4.228 17.881 1,910 2,647 5,486 io 20,792 164,218 16 1.137 11,327 25,406 20.404 16,934 4.228 17.881 1.910 2.647 11,684 2.821 600 4.694 13,927 116.838 20.909 27,891 6,687 14,520 20.146 170.289 502 13,244 16.485 15.633 17.520 4A16 16A84 1,481 3,964 9,220 3,463 6.198 2.821 60D 3,003 13.927 116.838 17,113 6,251 1.691 4.519 10,056 119,284 38,163 15,423 3,690 12,259 3,796 21.640 6.687 14.520 462.620 44,851 507,471 497.086 Governt7nce c05t5 Legal and professlonal fees AccouDtanLy Audlt fees L399 4,059 5.641 1,399 4.059 5,641 I,OLhJ 2.737 5,085 TotolGovernan¢ecosts 11,099 11.099 8.822 Total for Church Actl%Atle5 473,719 44,851 518,570 505,908 bl Funthalsln8costs Chrlstmasfalr Sockl cornmmee events otherfundralslng costs Grft stall purchases 188 74 3,171 5.301 74 421 1.312 2A94 5.071 2.750 5,301 ,051 8.734 8.877 Totsl resources expended 474,402 52.902 527.304 514,785 All Support costs are conslderedto relate to chèritable church 8ctlvlUes. Paqe 16
Romsey Parochlal Church Coundl Note5to the Financial Staternents for the year ended 31 December2023 staff (asts 2022 Wage5and 5alarie5 Ernployers, National InswarKe Pension costs 110.29) 2.354 4,192 111.673 3,293 4.318 116.836 119.284 Elght12022." el8htl people wereemployed year, noneof wlhjm earned mtyethan £60.tKQin eitherthe currentorcomparatlve veHr5. Morurs Seyfflour. a Trustee from May 2022. rerrived remurtht5on Intheyearamounbngto£27a1512022: £23.7(KII a5a 5alaryfor bng Directorof Music and not in rwct of his belnga Hewa5 employed in this P05t before belng elected asa Trustee. Eypense5were paldto oneTrustee amountingto £1.13712022'. one Trustee amountinEto £5021. £nll12022: £14.5491 of Staff costs were metfrom a restrScted fund with balarKe and alltru5tee eyyse5 retsti to unrestrfcted fvnds. Trustees, expensesare In respectof travel. suts&sten and tJaining. Inthe ¥iewof the Trusteesthere Isno remunerated key man&rnent 1*r$n. Pension Contributtoamountsn8t0£l,07212O22. E477) W(ArtStsThdt attheparthd. 5. Ftxed asset In¥estmeb 20Z3 2023 1023 Endo¥mient Funds Genernl Fund DÈsi8ll4ted Total Funds Funds Marketvalue at lJanuary 2023 Additlons D15P05als Revaluatlon galns 8.330 297 25.767 471646 7.955 1682.002 3.188.745 8,252 623 1155 41.145 254.536 298A59 Marketv¥lue at 31 Dttember2023 27.922 521.745 2.936.538 3,495.455 Investments compr. 2023 Generolfut Str•n8ers Gift Fund- CBF Investn Talbot Bequest- CBF Investment Ccxban maIntenan Fund- CSF Ffxed Abbey Improvemert Fund- CBF Fixed 158m 101.24 29.94 810.71 153.58 98AO 1.4%.56 793.02 3.572 2,289 2.215 1,174 9.250 3,171 2.032 1.083 8.330 CGpftolFund{Deslpnt7tedl CBF Flxed CBF Investment 6.012.87 850.17 6X112A7 850.17 ,214 17,553 25.767 19.218 27.922 TOTAL Unrestricted FubrtcFundlRestrirtedJ Wheeler BeqeSt- C8F Insrne Wheeler Bequest- CBF Fix CBF Investment Corban Fabric Fund- CBF In¥esthlt FabrfcTrust- CBF In¥estment CBF NKed Foster Lake Fwtner(tharfty- CBF Investment Foster ioke F(K>tnerCharfty- Recoupment Foster lake FootnerCharfty- CBF Depostt Bar¢lays Bank PLCOrdlnaryshares 37.172 34,097 5,60351 2&6827 L854.ClJ 3.097.ClJ 1,092.67 4,227.96 L268.00 4.fA)627 5A46.28 21.682.07 1.854.00 3.097.00 1.062.02 4.227.96 1268.lJ) 4,4?73 126,669 31.385 41.910 70.ODg 24.71Jl 6.120 28,664 104,126 12.744 13548 111443 29.620 38.277 63.940 21.926 5.776 26.179 92.431 11.580 13.966 810) &810.CIJ carrfedf0ardS 459.874 416.138 Page 17
Rom5ey Parochlal Church Councll Notes to the Flnan¢lal Ststementsforthe yearended 31 December 2023 5. Axed asset Investments Icontlnuedl 2023 UnltS 2022 Unlts 2023 2022 Inve5trnents cornprf5e- 8rou8htforward5 459.874 416,138 Corbon mo1nrenonFll& IRestrlctedJ CBF Investment 2.737.00 2,737.00 61,871 56.508 TOTAL tttted 521.745 472,646 Robln 8lshopEndowrnent C6F Investment 129,904.79 129,904.79 2,936,538 2,682,Q02 TOTAL Investments 3,495,455 3,188.745 The Foster L8ke Footner Charlty Investments all latet0 St5thun,s Church Repalr Fund. The recoupment ccount arfses from a lo•n madetothe Pirfsh In 1976 on repoyrnent term5 5tatlng that until 2006 £131.40 hod to be relnve5ted In the recoupment account tosetherwlth all dlvldends and Interest re¢el¥ed Int¢ the•ccount. Dlvldends ond Interest were pald Into the recouprnent account untll the number of unlts In the 8ccount exceeded 3,804 and thls prnctlce has contlnued slnce then. CBF Investment" refers to the CBF Chur¢h of England Investment Fund Income Shares. "CBF Flxed. refers to the CBF Church of En6land Flxed Interest Securltles Fund Income Share5. Both of these Investments are admlnlstered by CCLA Investment Minasement Llmlted on belf of the Central BNrd of Flnon¢e of the Church ol England. The Barclay5 Bank PLC ordlnary shares ore Ilsted on th London Stock exchan8e. 6. O•btors 2023 202Z Trade debtors Glft3ld otherdebtors 5,351 2.638 106,964 9.488 2,696 101,281 114,953 113.465 All amoun1$ f•ll due wlthln oneye•r. 7. Credltors 202a 2022 Trade credltors Payrnents due to Wln¢hester Dlocwn Brd of Fln•n¢e Other crdltors 5pe¢i81 collectlonspay8ble 3015 9.583 17.509 33.574 3.735 45,774 2,980 52.569 64,401 Thetotsl amount recelved In the year forspeclal Collectlon5 was£S,09112022'. £7.5481. PaBe 18
Rom5ey Pan)chlal Church Councll Notes to the Flnanclal Ststements for the Yearered 31 December 2023 8. Ful5 Statement of Finandal ActIvIe5 Income Statement ol Flnandal Actlvttles Empendltyre Galns and los$e$ and tran51ers ljanuary 2013 31 December 2DZ3 UfrJresrrlrtedfufr]ds General fund Ener8yfund Idesignatedl Bulldlng fund Ideslgnatedl Capltal reservefund Idesignatedl 93,855 20,000 49,136 254,432 476,166 1457.2891 2.746 120,tKJoi 115,478 49.136 260,187 713 117.1131 21155 417.423 476,879 1474.4021 4.901 424.801 Restrirtedfund5 Fatricfund Organ fund The Eylesscholarshlpfund Bookstall fund Grftstall lund Children and Fèmilie5workeTfund FORAM Funds FORANI 100 Club fund Hardshlp fund St Swithun's Fund St Swithun'scommittee Fund Abbey Vine Fund Parish Lunch Fund Parish mag4ne Fund Flower Fund Corban malntenancefvnd 436,431 12.327 1,699 35.911 26.184 22,007 19.342 2.251 12.106 2.344 17.348 1971 33 5.724 11,809 6.213 32,861 889 850 625 3.376 835 3,333 6,835 4,396 1,691 13.7961 35,159 485.142 15.298 1,732 38,814 32.692 28.220 30.563 3,140 10.938 2,969 2.876 3.209 2,053 s74 22 61,872 12,8211 IS.3011 121,6401 12,0181 15001 2.615 1.470 9.726 1,583 56.509 12411 12,7501 16.6871 15.9571 116911 11.0001 5,363 642,505 99,789 152.9021 39.022 728,414 Endowmentfvrtd Robln Bishop Legacy 2,682,OC12 254,536 2.936.538 Totsi funds 3,741,930 576,668 1527,3041 298,459 4.089.753 Details ofAurtds The Capital Reserve Fund represents arnouDts designated bythe PCC forfuture capitsl projects. The 8uSldln8 Fund represents8 sum deslgnated for inltlal costs In connection wlth a possible bulldlni projectforwhlch local COll5ultation be8an during 2021. The Ener8y fund represented a surn de51Eated for eneT8V costs In 2022. The Fabrlc Fund representsfunds thatcan only be spent on eltherthe malntenanceand pSerVatIOn of thefabric of Romsey Abbey orSI Swithun'5 Chur¢h, Cramptnoor. The Organ Fund Tepresented fundsforthe future cleanlng and overhayl ofthe organ. The Eyles Youn8 Musiti8n Scholarship Fund represents an amount received to be usd to prOdEa mu51c 5ckK>lathlpf(x a youn person at Romsey Abbey. The Bookstsll Fund representsfund5generated by the Book5ts11 to te used forfvture publication costs and other expendltuie as determlned bythemcarand Bookstdll Mana8er. The Giftstall Fund represents funds 6enerated bythe Glftstall to be donated to RomseyAbbey Appeal Fund The Children and Familieswtsrkerfund represents funds ralsed to support the etnployrnpnt of a Children and Familiesworker. FORAM Fund5 representamounts rèi5ed by Friondsof RomseyAbbEy Mu51c to supporttheAbbey Chol. FORAM I(WJ Club Funds ore re5trlctEd to expendlture to 5UPPOrtthE cholrs of Romsey Abbey. The Hardshlp Fund represents monles recelved a5 a discretionary fund to support Immedlate hardsNp needsof young fornllles wlthln the parfsh of Rom5ey. St Swlthun's fund representsfund to be5PEnt forihe benefitof St 5thn,5 Church. Crampmoor. St Swlthun's ComTnitte2 fund represents funds raised bythÈ ton8re8ation of St Svlthun'schurch Crarnpmoor for such projectsas the St SvAthun'sCommittee shall decide. lrtfvrmotlon obout the remolnlngAunds tsglven on the nextpuge. Page 19
Romsey Parochlal Church Countil Notes to the Flnandal Statements forthè Year endtd 31 DÈcÈmber 2023 8. Funds Icontlnuedl Curr•nt u0blll8S Anulysls of 055etsbyfvnd Unrestrlttedfvids GEner41 fvnd 8ulldlngfund (deated) Capitsl reserve fund (degn¥1edl 155.817 49,136 232.265 149.5891 115,478 49.136 260.187 27.922 37,172 437,218 149.5891 424.801 RertrlrtedAunds Fabric fund Or8•n fund The Eyles Scholatshlpfund Bookstall fund fjlftst811 fund ChIldn and famlllesmlnlsterlund Hard5hlp lund FOKAM Funds FORAM loo aub Fund$ St Swlthun's Fund5 St Swlthun's Cornrnlttee Fund bbey Vlne Fund Parfsh Lunch Fund Pad5h M11ne Fund Flower Fund Otherrestrfcted funds Corban m•iNenan¢e fttr 459,874 25.268 15.298 1.732 38,814 32,692 28.220 10,938 30,563 3.140 2.969 2.876 3,209 2,053 8074 485.142 15,298 1,732 38,814 32,692 28,220 10,938 30.563 3,140 2,969 2,876 3,209 2.053 8.874 22 IU801 6L8n 61.872 52L745 109,649 12,9801 728.414 Eftdowmenrfvnd Robln Blshop Lewy 193&538 2.936.538 Tot•1 lunds 3N95A55 646.867 152,wJl 4.089,7S3 Oetolls ojfunds Icontlftuedfrom prevloLtswgeJ The Abbeyvlne Fund representsfunds e5Vedt0 cover the costsoftheAbtWfie te, whkh st•rted In March 2020. Tht Parlsh Lunch Fund rewestfitsamountsralsed ty the whkh prereSthe monthly Parfsh Lunch. The Parfsh Magazlne Fund represents amountsgeneraled bythe Padsh Mogailne foruseas detemilned tythattsam. The Flower Fund represents amounts rttdved tooffAp the o)stofprthldlnK Flowersfor RAbbEY. Other restrtcted fuTrJ5comprfse amounts owed In respect of 5peoal collecuons at 31st December 2023. Thecorban Malntenance Fund represents fund5to be5Fent on the MaIntenare of RomwAbbey PrfmarySchool. The Robln Blshop Endowmentcornprfses fvnd5 lefttothe PCC by the late Robln Blshop. on the tr)nOon th•t they *re In¥e5ted In the CCLA Church of England CBF Investsment Fundwlth the Incomegener#tedfrom theln¥Esbnent beInK•Ilable forthe general charitable purn5es ofthe PCG 9. Related PartyTrans•cdon5 The followln8entittesare re8arded a5 Related PartIeStth whom there been transathons rOrderf.. Romsey Abtw Appeal Fund la Registered Charftyl.. MU£ In Romsey la Re8lstered Cfvrityl: Frlends of Rth7wAbbtyl• RegIed Charttyl.. and RDrnsey Abbey Primary School la Voluntary ded thurch Schcdl. Each enoty isa rdatrd porty btt•use one or more of iheTrusteesof Romsey PCC is alsoa Trustee (orGo¥ernl of the other entlty. Ourfnlthe yearthEchorltyoccounted forlncorne from: Romsey AbbeyAppeal Fund amtyJnt5ngto£nll12022'. Enlll forfabrkworks.. Mu5ir in Rom5eyarnOunngtO £14,91112022.. £12,865) forfees for usin8 RomstyAbbeylorconcerts.' and Frlends of Romw Abbeyam¢)unUngto£17,38812022.. £4,0581 for wJrlous projects and attivtties. DurlnBtheyear thecharitymadea Payrt affting to £4.69412022.. £4,519) on behaff of Rom5eyAbbEy Prlmary School for bulldln85 Insurance. Atthe end of theyear. thecharlty wastrwed £67.38612022.. f74.6171 MU¢ in Romseylon whose behalfthe PCC has made a numkr ofpaymentsl nothth8 by any ofthÈots Re14ts1 pae Page 20
Romsèy Parochial Churth Council Notes to the Flnandal Statementsforthe yearended 31 December 2023 10. Cparatfve Infomiatl( Total Fd$ Fund5 Funds Funds Income and endowments from Oonafjonsand legacles Actiwbe5forgeneratfn8funds Income from churth activibe5 Investment Inco 32277 39.671 45.4M 82.233 37.618 360A95 48,218 66.169 98.072 20.725 IS39 41.225 82.T29 572.954 ENJendSture on Church actIvIe$ Fundralslng costs 459.933 1.620 45975 7.257 $05.9D8 8.877 461553 53232 514,785 Netlncome belore $tmentn$#rIIOS$ 28.672 29A97 58,169 Galns and105ses on InvestsTrents 14.7151 I64]3) 1356.0431 1424.7711 Net tficome before transFer5 23,957 (345161 1356.0431 1366.6021 Trartsler between funds 1.722 IL7221 Net mtNemÈnt in fvhds 25.679 136.2381 1356.0431 1366.6021 Funds brou8htforword èt lJJnu4ry 2022 391.744 6Th743 3,038,045 4,108,532 Funds carrled fonvard at31 Derember2022 417,423 642.505 2.682.t*J2 3.741.930 20Z2 Funds Funds Fuhds Funds al Donation5 and le8ade5 Planned ElvlnB Income tsx reco¥erabJe Collettions at seNtes Othergrants and donatlon5 Fabrl¢fund 8r4nts and don¥Oon$ Le8¥¢le5 155,148 42.240 27.151 91.645 4.207 810 159.355 43.050 27,151 117.407 6,839 6,693 25,762 6B39 6.693 321877 37.618 360,495 b)ActIleSfoywernN8f Chrfstmas falr Soclal Commlttee actlvltles Stswrthuns, actlvlties lfideo team Glftstall sales Muslt In Romseylees Church r00rn5 inEome 0therfundra1 acti¥tties 3.227 520 3.227 520 5245 8,547 11865 8.566 1762 5.245 8.547 I265 8.566 1762 39.671 Page Zl By7 48.218
Romsey Parochlal Churth Coundl Note5 to the Flnanclal Ststernentslorthe year endèd 31 DÈtthbeT 2023 10. C4)mparaii¥e InfOnnl0th l¢Mtknueill 20ZZ Ttstsl Fund5 Fthids Funds Funds cl Income fram thurch C8ndles Fee5for Carol Servkes Income from Parfsh M•8azlne Bookstall Soles Other church actitIeS Fees for Church 5ervl¢es 3.434 3.434 5,860 8.228 4,220 15,748 28,679 8,228 4.220 8.277 7,471 28,679 45.4144 20,725 66.169 dl Invostment Income Interest leIVate DIdend$and dlStrfbI0ns 1,476 80,757 1,526 96,546 15.789 82,233 15A39 98,072 Tot•1 thcomln8 i•$irS 4x1,225 81729 572,954 41 Churth actS¥hle5 MlssSonary and charltsb1egll Dlerten 5h8re Vlcae5expense5 Other clergy expenses Office£05t5 Abbpy heatln8 Abbey Ilihtln8 Abbey Insurance Sl Swlthun's expenses Repllrs •nd 5e¢urlty Organ tunln8and rnalntenance aeanln& water and ¢hurchyord Church St(e ¢osts Booksts11 purchases Education and tralnlni Abbeyschool thurch rooms e¥pen4ltu Salarfes F4brf¢ and Captt•l ewendltu Cholrand mulc Parlsh Magazlnecosts Other expendltufe 18,648 170.289 L498 20,146 170,289 502 13.244 16A85 15,633 I720 4,416 16.484 1.481 502 13.244 16.485 15.633 17.520 4A16 16A84 1.481 3.964 9,220 3.463 4327 4.893 237 10.056 104.735 32,157 L682 4,519 10.056 119.284 38.163 15.423 3.69] 12,259 14.549 817 10.882 iJ77 451.lli 45.975 497.1>86 Le8al and professlonalfees countancy IndeFendent exarnlna fees 2.737 2.737 S.OBS rotol Govemoncecort5 8.822 8.822 Total forchurch AcU¥ltle5 459.933 Pa8e22 45975 505,908
R0rn5ey Parochlal Church Coundl Notesto the Flnanclal Statements forthe year ended 31 December2023 10. comparaVe lrtform•tl¢m Irontlnuedl Addltsonulromp¢7rrtlvelnfvTr7pdonJornote3 Icontlnuedj 2022 Unrestrlcted Funds 2022 Restrftted Fund5 2022 EndDwment Funds 2022 Totsl Funds bl Fundralslngcosts Chri5ttna513ir Soclal £ommlttee events Otherfundralsln8 Costs Glft stsll purchases 1,312 308 1,312 2,494 5,071 2.186 5,071 1.62Q 7,257 8.877 Total resotsrtes expended 461.553 53,232 514.785 com1•¥e1fvrnial1Qnfvr.rt¢1eS 2022 Unrestrided General Fund 2022 Unrestrlcted Desl8rtated Fund 202Z Re51rirted Fund5 2022 Endowment Funds 202Z Total Funds M8fkÈtv8lue8t l January 2022 Addition5 Revaluation1055es 9.247 182 11,0991 29a83 527,227 9,432 164.0131 3.038.045 3.603.902 9.614 1424.7711 13.6161 1356.0431 Market value at 31 December 2022 8.330 25.767 472.646 2,682.OC>2 3,188.745 Comporntlvelnfvnnutlonlormte 8 Statement of Flnandal Attlvltle5 ljanuary 2022 31 Denb Z022 Tran51er5 UnrestrArtedfvntts General fvnd h Anniver5aryfund Ide518natedl Energy Fund Ideslgnatedl 8ulldingfvnd Ide5ignatedl Caphal reserve fund Ideslgnatedl 58,290 701 53.142 117.577) 17011 20,000 93.855 20.000 49,136 254.432 50.000 282.753 18641 128,3211 391.744 23.957 1.722 417A23 Restrirtedlunds Fabrfc fund Organ fund The EWes Stholarshlp fund Bookstsll fund Glftstall fund Chlldren and Famllie$workerfuNJs FORAM Funds FOftAM IQO Clubfund Haship fund St Swithun's Fund5 Nightingale Window Fund Abbey Vine Fund Parish Lunch Fund Parfsh Ma8ailne Fund Flower Fund Corban malntenancefund 477.192 8,649 1,692 35.154 22,708 29,452 9,947 2.251 12.586 2.915 2.528 3,122 634 5,188 715 64,010 140,7611 3,678 436,431 12.327 1.699 35.911 26.184 22,IX)7 19,342 2,251 12,106 2.344 757 3,476 17.4451 9,395 14801 15711 18061 15071 836 4,538 868 17.5011 11.7221 2.615 1.470 9.726 1.583 56,509 Totsl restricted funds 678.743 134.5161 11.7221 642,505 Page 23
R0rn5ey Parochlal Church Coundl Notes to the Flnandal Statements for the yearended 31 Decernber 2023 10. Comparotl¥e Inl(Th/tlon l(orthuedJ Addltlonaltomptsmtlwelnfvmthfvrrtot¢ 8(¢MdnwdJ ststent of finand81 lJ*wiry 202Z JI December 2022 Erthwmentfvnd Robln Bishop LegaLv 3.0¥045 1356,0431 2,682.002 Totsl fvnd5 4.108,532 1366.6021 3,741,930 Current uablIleS Net Anolysls o1ossets byfvnd A55•ts Uniestflctedfvnds General fund Ener8y fund Ideslgnatedl Bulldlngtund Ides+gnatedl C4pltal reser¥e fvnd Ideslgn•tedl 329 146.192 io.c 49.136 228,665 160.6661 93,855 20,¢X 49.136 254.432 25.767 443.993 160.6661 417.423 Restrlctedfund5 Fabrtc fund Ofyn fvnd The Eyles Scholorshlplund Bookstall fund Glftstlll fvnd Chlldren ond farnllle5 mln15terfvr¥J Hordshlp fund FORAM Funds FOFi4M 100 Club F$ St SIthUn.s Funds Abbeyvine Fund Pirf5h Lunch Fund Parlsh Ma8ailne Fund Flower Fvnd Other re5trfcted funds Corban rnalntenancefund 41&138 20.293 12.327 1.699 35.911 26,184 22,iX17 11106 19.342 2.251 436,431 12.327 1,699 35,911 26.184 22.1))7 12,106 19,342 2,251 2,615 1,470 9.726 1,583 3.735 2,615 1,470 9,726 L583 13.7351 56,509 4n.647 I7395 13,7351 642.505 Endowrnentfvnd Ron B15hop Le8acy 2M2,1Th 2.682,IK12 lotsl funds 3,188.745 617.SB6 164.4011 3,741,930 Page 24
Romsey Parochial Church Coundl Notes to the Flnanclal Statements for the year ended 31 December 2023 11. Penslons-church Workers PensSon Fund IcwpF) Romsey Parochial Church Counul participates In the Penslon Builder Scheme section of CWPF for lay staff. CWPF ts administered by the Church of England Penslons Board, which holds the CWPF assets separately from those of Romsey Parochlal Church Councll and the other participatin8 employer5. CWPF ha5 two 5ertions: the Defined Benefits Scheme- the Penslon 8uilder Scheme, whlch has two subse¢rions- a deferred annuity section krwn a5 Pension Builder Classic: and cash balance section known as Penslon Builder 2014. Penslon Bullder5cheme 80th sertlons of the Penslon Builder Scheme are dassed a5 defined benefft stheme5. Penslon Bullder aasslc provldes a pen51on, accumulated from contrlbutlons pald and converted Into 3 deferred annulty durlng employment based on terms set and revlewed by the Church of England Penslons Board from tlme to time. Dlscretlonary Increases may also be added, depending upon the Investment retums and other factors. Penslon Bullder 2014 Is a cash balance scheme that provldes a lump sum whlch mernbers use to provlde benefits at retlfement. Penslon contrlbutlons are recorded In an account for eath member. Discretionary bonuses may be added before retlremen¢ dependlng upon the Investment retums and other factors. The account, plus any bonuses declared, Is payable, unreduced. from a8e 65. There Is no sub41vlslon of assets between employers In each sectlon of the Pensbon Bullder scheme. The scheme Is consldered to be a multl*mployer scheme as descrfbed In Sectlon 28 of FRS 102. Thls Is because It Is not P0551ble to attribute the Pension Builderscheme's assets and liabilitie5 lo specific employers and mean5 that contrlbutions are accounted for as If the Scheme were a defined Contrlbutlon scheme. The penslons costs charged to the Statement of Flnancial Actlvitles Sn the year are the Contrlbutlo payable12023'. £4.192: 2022: £4.3181. A valuation of the Pension Bull(Jer Stheme is carried out on¢e every three years. The most recent was carrled out as at 31 December 2019. For the Penslon Bullder Classlc sectlon. the 2019 valuatlon revealed a defidt of £4.8m on the on8olng assumptlons used. At the most recent annual reW effectlve l January 2024. the Board chose to grant a d15cretlonary bonus of 6.7% to both penslons not yet in payment and pensions in payment in respect of servlce prlor to Aprll 1997; and a bonus on penslons In payment in respect of posl Aprll servlce 50 that the penslon Increase was 5% (Whe usually It would be calculated based on Inflatlon up to 2.5%). This followed Improvements in the funding positlon over 2023. The Is no requlrernent for deficit payrnents at the current time. For the Penslon Bullder 2014 sectlon, the 2019 valuatlon revealed a surplus of £S.5m on the ongolng assumptlons used. There Is no requlrement for deficlt payments at the cjjrrent tlme. The next valuatlon is due as at 31 December 2022. Calculations for thls have rentrY been completed bvt not Issued to partlcSpatin8 employers. The legal structure of the stheme is such that If another employer fails Rom5ey Parochlal Church Council could become responble for payin8 a share of the failed employerfs pension liabllitles. 12. Other Brants and donations In 2022, £55,000 was recefved from the Governmenys Culture Recovery Fund. The purpose of this grant was to bulld reserves followlng the Covfd-19 pandemic and so the balance was included as unrestritted income note 2a. Pa8e 25