2022-12-31-accounts

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LIMPSFIELD AND TITSEY

Charity Registration no. 1133240

Annual Report & Financial Statements 31 December 2022

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Report and Financial Statements 2022 Contents

	Page
Legal and administrative information	2
Report of the Parochial Church Council	4
Independent Examiner’s report to the Parochial Church Council	8
Statement of financial activities	9
Balance sheet	10
Notes to the financial statements	11

1

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Legal and Administrative Information For the year ended 31 December 2022

Charity Name	Parochial Church Council	Of Limpsfield and Titsey
Principal Address	Parish Office, High Street,	Limpsfield, Oxted, Surrey, RH8 0DG.
Charity Registration	1133240. The church was	registered with the Charity Commission on 10 December
	2009.
Governing Document	Parochial Church Council Powers Measure (1956) as amended and Church
	Representation Rules.
Objectives	Promoting in the ecclesiastical parish the whole mission of the Church.
Members of the PCC	The Trustees who served during the year or who were serving at the date of this
	report were:
Clergy	Helen Cook (Rector)
Wardens	Jane Tozer	(stepped down 4 May 2022)
	Joy Moore	(appointed 11 May 2022)
	Nila Spiller	(appointed 4 May 2022)
Deanery Synod Representative	Paul Budgen
	Dominic Campbell	(stepped down from Deanery Synod 4 May 2022)
	Sarah Paxton
	Eleanor Stoneham	(stepped down 4 May 2022)
	Marcell Wright
Elected members	Caroline Campbell	(secretary)
	John Biles	(appointed 4 May 2022)
	Simon Baker	(stepped down 4 May 2022)
	David Bell	(resigned 4 May 2022)
	Lynda Boast	(appointed 11 May 2022)
	Dominic Campbell	(appointed 11 May 2022)
	Sarah Ching	(appointed 11 May 2022)
	Thelma Cooper	(stepped down 4 May 2022)
	Charlotte Corrish	(appointed 4 May 2021)
	Lindsey Dunbar	(appointed 11 May 2021)
	Faye Faulkner	(stepped down 4 May 2022)
	Lillian Hindley	(stepped down 4 May 2022)
	Andrew Twomey	(stepped down 4 May 2022)
	Pauline Whyte	(appointed 11 May 2021)
	Pat Davies	(appointed 4 May 2022)
	Ann Hollywood	(appointed 4 May 2022)
	Gareth Morgan	(appointed 4 May 2022)
	Stephen Tuddenham	(appointed 4 May 2022)
Key Management	Those in charge of planning, directing, controlling, running and operating the Charity,
Personnel	including those members of staff who are the senior management personnel to whom
	the trustees have delegated significant authority or responsibility in the day-to-day
	running of the charity, are	Nila Spiller, Joy Moore and Caroline Campbell.
Bankers	NatWest

2

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Legal and Administrative Information For the year ended 31 December 2022

Independent Examiner Christine Cheung Poston ACCA Flat 48, Samford House Charlotte Terrace Islington, London N1 0JF Quinquennial Inspector Andy Burrell, Carden & Godfrey Architects 33 Clerkenwell Close, London EC1R 0AU

3

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Report of the Parochial Church Council For the year ended 31 December 2022

The Parochial Church Council of Parochial Church Council (“PCC”) submits its report and the financial statements of the PCC for the year ended 31 December 2022. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2019 (FRS102)) and the Financial Reporting Standard 102. The legal and administrative information set out earlier in this document forms part of this report.

Trustees Appointment and Training

The Trustees of the Charity are members of the Parochial Church Council (PCC) of St. Peter’s Limpsfield and Titsey and are either ex-officio or elected. The Rector is ex-officio; the Churchwardens are elected annually at the Annual Parish Meeting and are ex-officio members of the PCC. A Deanery Synod member is elected every three years at the Annual Parochial Church Meeting (APCM) and is an ex-officio member of the PCC for that period. The remaining members of the PCC are elected annually at the APCM. The PCC also has the power to co-opt one member. New members are inducted by the Rector and the Parochial Church Council.

Management Arrangements

The Parochial Church Council met on six occasions in the year to 31st December 2022. The PCC primarily discussed financial affairs, mission work among the local community, ways of building up the wider fellowship of the Church, and engagement with stakeholders in the local public realm. Details of these discussions are included under ‘Activities in the course of the year’ below. The PCC’s Standing Committee met six times in the year to discuss general church matters, advise the PCC where necessary, and enact decisions as delegated by the PCC.

Risk Management

The Trustees continued to assess the major risks to which the Charity is exposed, particularly those related to the operations and finances of the Charity. A risk assessment policy covering Christian mission, leadership, communications with the wider community, property security and fire detection, site security, property maintenance, compliance with charity and employment law and financial controls and management was reviewed during the year. A disaster recovery plan, to be followed in the event of a major disaster and setting out steps to be taken with respect to key personnel and specific tasks was also reviewed.

2. Activities & Strategies

The aims of the PCC are to work with the Rector in promoting the Parish of St. Peter’s Limpsfield and Titsey and the whole mission of the Church, pastoral, evangelistic, social and ecumenical. In addition to the Church the PCC is responsible for three community activities, the Church Hall, Glebe Meadow and Pavilion and the Parish News.

The PCC has again given due regard to the Charity Commissions’ guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. To this end the PCC organises the following activities in order to enable ordinary people to live out their faith as part of our parish community:

• worship and prayer

• learning about the Gospel, and its engagement with the insights and values of contemporary society, and its dialogue with those of others faiths, or none; and informing the resolve to live according to 'the mind of Christ' (1Corinthians 2)

• provision of pastoral care for people living in the parish

• support for outreach and works of compassion

3. Review of the Year and Plans for 2023

2022/23 has been the first full year of operating post Covid restrictions and has been a year full of opportunities. The relatively new All Age Service on the first Sunday of each month continues to be a success attracting many young families, this is also true of our newly revamped Messy Church. I’m grateful to the PCC and our core community of longer standing members for allowing me the opportunity to explore new ways of attracting families into the church. All the major festivals are fully celebrated and we were delighted this year to welcome 1661 adults and children through the door for our various Christmas services including a new community carol concert, led by our younger families. Remembrance Sunday is also an important service where many of the wider community join us.

4

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Report of the Parochial Church Council For the year ended 31 December 2022

School ministry also continues to be a core part of our work and I’m delighted that in addition to the weekly visits to our church infant school that I am also now a regular visitor to Hazelwood the other junior school in our parish. We were pleased at Christmas to welcome back Limpsfield Grange School for their nativity service and I will continue to seek ways to support that community.

We remain a popular church for couples to get married in and this in addition to our many baptisms, funerals and memorial services allows us as a church to minister to those who may not be regular attenders. However, a number of our baptism families are now a part of our community and I offer ongoing pastoral support to people who are bereaved. Pastorally, we offer singing groups, coffee morning and visits to our local nursing home and those in our community. We also have many social events including a summer fete, quiz, lent lunches. Last year we celebrated the Jubilee with a street party and this year we will celebrate the Coronation with a picnic on the Glebe field.

We are conscious of the responsibility we have to maintain the fabric of our beautiful church and with this in mind we have recently set up a Friends of St. Peter’s group, asking the wider community who may not attend the church regularly but non the less value its input to the village to contribute towards the cost of maintaining it.

4. Financial Review

After previous periods of deficit, (2021 £67,000), a surplus of £5,000 was recorded in 2022.

Planned Giving has had a boost from existing and new donors following an appeal in mid-year. Improved income, with Covid restrictions unwound and curtailment of costs has allowed the contribution from the Hall/Glebe/Pavilion to increase and general church and churchyard expenditure has been tightly controlled although increased energy costs have been seen.

However, it should also be noted that income included a Grant of £4,000 from the Limpsfield Church Trust, a Grant of £7,294 relating to reclaimed VAT on the 2021 Boiler Project and Legacies of £12,677 so the Church is still some way from being able to manage on its own annual income.

4.1 Financial Activity and Financial Position

The PCC’s main sources of funding are the free will offerings of congregants, donations form trusts and lettings income.

The Statement of Financial Activities and Balance Sheet can be found on pages 10 and 11 respectively. The Church’s reserves increased by £5,178 during the year (2021 – decreased by £66,807). The balance sheet shows total net assets of £754,374 (2021: £749,146).

The Church has three types of funds: unrestricted, restricted and designated. Total cash funds are £370k. Cash funds, previously shown as Designated for specific projects have now been absorbed into Unrestricted (General) Funds. Unrestricted cash funds, total just over £348K.

Included in total funds are amounts totalling £400,943 (2021: £404,724) which are restricted. These balances have either been raised for, and their use restricted to, specific purposes, or they comprise donations subject to donor imposed conditions. Full details of these restricted funds can be found in note 8 to the accounts together with an analysis of movements in the year. Restricted cash funds, totalling £22k, are those that can only be used in accordance with the specific purposes set out by the donors. In addition, there are non-cash restricted funds: The Val Darkin Fund, the Parish Office and the house in Padbrook where any proceeds from a future sale can only be used to purchase further clergy accommodation.

4.2 Reserves Policy

The PCC has examined the requirements for free reserves, i.e. those unrestricted funds not invested in tangible fixed assets. The PCC considers that, given the nature of the church’s work, free reserves should be equivalent to approximately 4 months’ routine unrestricted fund expenditure, plus committed future expenditure on other projects, where funds permit. The PCC is of the opinion that this provides sufficient flexibility to cover temporary shortfalls in income and will allow the PCC to cope and respond to unforeseen emergencies whilst specific action plans are implemented. At 31 December 2022 the church had net free reserves of £353,054 (2021: £343,779) as follows:

5

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Report of the Parochial Church Council For the year ended 31 December 2022

Total reserves Less: restricted funds Less: unrestricted fixed assets Free reserves Free reserves requirement: 4 month’s budgeted routineunrestrictedexpenditure	2022	2021 £ 749,146 (346,447) (58,920)
	£
	754,374
	(342,666)
	(58,654)
		343,779
	353,054
		72,000
	80,000

5. Financial Plans for Future Periods

With the decisions to build up the effectiveness of our Church by, increasingly, the use of ‘paid for’ services such as bookkeeping, Choir Direction, Organist and staffed office and with the need to keep our Grade 1 Listed Church in good condition, our ‘fixed’ cost base is relatively high. Further, we would wish to support the Diocesan Clergy costs to the best of our ability.

We have seen some increase in Planned Giving but with significant giving from the older members of our Church likely to fall away we will do well to maintain the levels of giving in the coming years and the scope for increases in today’s society must be regarded as limited. It is therefore important to control what costs we can and to encourage Legacy Giving.

St Peter’s has recently launched ‘Friends of St Peter’s’ to try to encourage the wider community to donate specifically for the upkeep of the fabric of the Church.

Any significant projects will be considered strictly against the availability and source of funding available.

6. Responsibilities of Trustees for the Financial Statements

The PCC is responsible for preparing the report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law in England and Wales requires the PCC to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the PCC and of the income and application of income of the charity for that period.

In preparing those financial statements, the PCC is required to:

• select suitable accounting policies and apply them consistently;

• observe the methods and principles of the Charities SORP

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and

• Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the activities of the charity will continue.

The PCC is responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports Regulations 2008 and the provisions of the governing document. The PCC is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The PCC is responsible for the maintenance and integrity of the charity and financial information included in the charity’s website.

6

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Report of the Parochial Church Council For the year ended 31 December 2022

7. Approval

The report of the PCC was approved by the PCC on 22 March 2023 and signed on its behalf by:

Rev. Helen Cook

Rector

7

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Report of the Independent Examiner to the Parochial Church Council of St. Peter’s Limpsfield

I report on the accounts of the Parochial Church Council of St. Peter’s Limpsfield for the year ended 31 December 2022, which are set out on pages 8 to 19.

Respective responsibilities of PCC and examiner

The PCC are responsible for the preparation of the accounts. The PCC consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed.

It is my responsibility to:

• examine the accounts (under section 145 of the 2011 Act);

• to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and

• to state whether particular matters have come to my attention.

Basis of independent examiners’ report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a ‘true an fair view’ and the report is limited to those matters set out in the statement below.

Independent examiners’ statement

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

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

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts 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 accounts to be reached.

Christine Cheung Poston ACCA

19 April 2023

8

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Statement of Financial Activities For the year ended 31 December 2022

Note Income from: 2 Donations and legacies Charitable activities Other trading activities Investments Total Income Expenditure on: Raising funds 3 Charitable activities 4 Total expenditure Net gains/(losses) on investments Net income Transfers between funds Other recognised gains and losses Net movement in funds Total funds brought forward Total funds carried forward	Unrestricted Funds 2022 £ 163,660 7,855 62,112 20,860	Restricted Funds 2022 £ 382 - - 768 1,150 - 4,130 4,130 (801) (3,781) - - (3,781) 346,447 342,666		Unrestricted Funds 2021 £ 96,701 6,955 48,151 18,097		Restricted Funds 2021 £ 8,713 - - 652 9,365 - 4,833 4,833 1,945 6,477 - - 6,477 339,970 346,447	Total 2021 £ 105,414 6,955 48,151 18,749
			Total
			2022
			£
			164,042
			7,855
			62,112
			21,628
	254,487			169,904			179,269
			255,637
	44,493 201,035 245,528 - 8,959 - - 8,959 402,749 411,708			58,462 184,726			58,462 189,559
			44,493
			205,165
				243,188			248,021
			249,658
				-			1,945
			(801)
				(73,284)			(66,807)
			5,178
				- -			- -
			-
			-
				(73,284)			(66,807)
			5,178
				476,033			816,003
			749,196
				402,749			749,196
			754,374

9

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Balance Sheet For the year ended 31 December 2022

Note Fixed Assets Tangible Assets 5 Investments 6 Current Assets Debtors 7 Cash At Bank And In Hand Creditors - Amounts Falling Due Within One Year 8 Net Current Assets Net Assets Represented By: Restricted Funds 9 Unrestricted Income Funds 10 Total Funds	Unrestricted Funds 2022 £ 58,654 - 58,654 7,579 356,368 363,947 10,893 353,054 411,708 - 411,708 411,708	Restricted Funds 2022 £ 305,000 16,199 321,199 - 21,467 21,467 - 21,467 342,666 342,666 - 342,666			Total 2021 £
			Total
			2022
			£
			363,654		363,920
			16,199		16,232
			379,853		380,152
			7,579		6,355
			377,835		364,941
			385,414		371,296
			10,893		2,252
			374,521		369,044
			754,374		749,196
			342,666		402,750
			411,708		346,446
					749,196
			754,374

The financial statements were approved by the PCC on 22 March 2023 and signed on its behalf by:

Rev Helen Cook

10

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2022

1. Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of accounting

The financial statements have been prepared under the Charities Act 2011 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of accounting except for the revaluation of freehold land and buildings which are shown at market value.

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 an affiliation to another body or those that are informal gatherings of church members.

The PCC meets the definition of a public benefit entity under FRS 102.

Going Concern

There are no material uncertainties about the charity’s ability to continue as a going concern and accordingly the accounts have been drawn up on a going concern basis.

Income recognition

Voluntary income and donations (including legacies) are accounted for once the PCC has entitlement to the income, it is probable the income will be received and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for in the period to which the relevant donation is received. Grant income is recognised on a receivable basis.

The income from trading activities includes rental income from the letting of church premises and leasehold land and buildings which is accounted for when earned. It is shown gross, with the associated costs included in fundraising costs.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. Longer term liabilities are discounted to present value. The PCC is not registered for VAT and accordingly expenditure includes VAT where appropriate.

Expenditure included in Raising Funds includes amounts incurred in obtaining grants and other donations and property maintenance costs.

Charitable expenditure includes those costs in fulfilling the PCC’s principal objects, as outlined in the Report of the PCC. These include grants payable, governance costs and an apportionment of support costs.

• Grants payable are payments made to third parties in furtherance of the PCC’s objects. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the PCC.

• Governance costs comprise all costs involving the public accountability of the PCC and its compliance with regulation and good practice. These costs include costs related to the independent audit/examination and legal fees.

The PCC contributes to certain employees' personal pension plans. These are defined contribution schemes, the assets of which are held separately from those of the charity. The cost in the accounts is the amount of contributions paid and payable during the year.

11

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2022

1. Accounting Policies (continued)

Rentals under operating leases are charged as incurred over the term of the lease.

Tangible Fixed Assets

Consecrated Property and Moveable Church Furnishings

Consecrated land and benefice property such as the church building and vicarage is excluded the accounts in accordance with s10 of the Charities Act 2011. Moveable church contents are held by the vicar and churchwardens on special trust for the PCC and require a faculty for disposal are accounted as inalienable property unless consecrated. All expenditure incurred on consecrated or benefice buildings and moveable church furnishings, whether maintenance or improvement, is expensed within the Statement of Financial Activities.

Other Fixtures, Fittings & Office Equipment

The cost of other furniture, fittings and equipment, less any expected residual value, is depreciated on a straight-line basis over the effective useful lives of the assets, which have been estimated as 3 years.

Investments

Listed investments are stated at market value. Realised and unrealised gains and losses on investments are reflected through the Statement of Financial Activities.

Debtors

Debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

Fund accounting

The funds held by the charity are either:

• Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

• Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

12

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2022

2. Income

Unrestricted Funds 2022 £ Voluntary income Donations 116,124 Income tax reclaimed 22,165 Legacies 12,677 Grants 12,694 163,660 Charitable activities Fee income (net) 7,855 Other trading income Parish News 3,365 Lettings income – Hall 31,703 Lettings income – Glebe 24,418 Other 2,626 62,112 Investments Dividends - Interest 2,260 Rent income - Padbrook 18,600 20,860 254,487	Restricted Funds 2022 £ 382 - - - 382 - - - - - 0 768 - - 768 1,150				Total 2021 £ 85,150 20,264 - -
			Total
			2022
			£
			116,506
			22,165
			12,677
			12,694
					105,414 6,955 3,420 18,908 24,061 1,762
			164,042
			7,855
			3,365
			31,703
			24,418
			2,626
					48,151 652 510 17,587
			62,112
			768
			2,260
			18,600
					18,749
			21,628
					179,269
			255,637

3. Expenditure on Raising Funds

Unrestricted Funds 2022 £ Fundraising 186 Parish News 3,481 Glebe 8,653 Padbrook 4,340 Hall running 27,833 44,493	Restricted Funds 2022 £ - - - - - 0				Total 2021 £ 206 3,783 36,925 2,294 15,254
			Total
			2022
			£
			186
			3,481
			8,653
			4,340
			27,833
					58,462
			44,493

13

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2022

4. Expenditure on Charitable Activities

Unrestricted Funds 2022 £ Provision of Clergy (including Common Fund) 102,000 Church life & outreach 22,209 Gifts & grants (see note 4a) 2,856 Office costs 34,824 Provision of Church building, facilities & equipment 38,846 Governance 300 201,035	Restricted Funds 2022 £ - - 100 - 4,030 - 4,130				Total 2021 £ 102,105 6,367 911 27,468 52,708 -
			Total
			2022
			£
			102,000
			22,209
			2,956
			34,824
			42,876
			300
					189,559
			205,165

4a Gifts & Grants

Gifts and grants included within Expenditure on Charitable Activities are as follows:

Unrestricted Funds 2022 £ Gifts & grants to: Organisations 2,856 Individuals - 2,856	Restricted Funds 2022 £ - 100 100				Total 2021 £ 594 -
			Total
			2022
			£
			2,856
			100
					594
			2,956

4b Staff Costs

Included within expenditure on charitable activities are the following staff costs:

Wages and salaries Pension costs Of which the following relate to Key Management Personnel: Wages and salaries Pension costs		2022		2021
		£		£
		19,506		18,905
		368		366
		19,874		19,271
		19,506		18,905
		368		366
		19,874		19,271

The average number of employees during the year was 1 (2021: 1), being 1 (2021: 1) part time administrator. No employees received payments in excess of £60,000 during the year.

14

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2022

5. Tangible Fixed Assets

Cost/valuation At 1 January 2022 Additions Disposals At 31 December 2022 Depreciation At 1 January 2022 Charge For Year Disposals At 31 December 2022 Net Book Value At 31 December 2022 At 31 December 2021	Freehold land & buildings £ Leasehold land & buildings £ Office equipment £ 305,000 58,277 798 - - - - - - 305,000 58,277 798 - - 155 - - 266 - - - 0 0 421 305,000 58,277 377 305,000 58,277 643
			Total
			£
			364,075
			-
			-
			364,075
			155
			266
			-
			421
			363,654
			363,920

All of the fixed assets are used for charitable purposes.

The freehold property is the residential property at 24 Padbrook, Limpsfield RH8 0DW.

The leasehold property is the leasehold interest in the office at Parish Office, High Street, Limpsfield, Oxted, Surrey, RH8 0DG. A 999 year lease was agreed in 1997.

6. Fixed Asset Investments

At 1 January Additions at cost (dividends reinvested) Sale proceeds Net gain/(loss) on revaluation				Total 2021 £ 13,635 652 - 1,945
		Total
		2022
		£
		16,232
		768
		-
		(801)
				16,232
		16,199

The quoted investment is in the M&G Charifund Accumulation units.

15

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2022

7. Debtors

Lettings receivable Gift Aid receivable		2022		2021 £ 550 5,805 6,355
		£
		1,116
		6,463
		7,579

8. Creditors - Amounts Falling Due Within One Year

	2022	2021
	£	£
Deferred income	2,235	2,235
Trade creditors	8,358	17
Accruals	300	-
	10,893	2,252

Deferred income Trade creditors Accruals	Deferred income Trade creditors Accruals	Deferred income Trade creditors Accruals	Deferred income Trade creditors Accruals	Deferred income Trade creditors Accruals	Deferred income Trade creditors Accruals	Deferred income Trade creditors Accruals		2022	2022		2021 £ 2,235 17 -	2021 £ 2,235 17 -
								£
								2,235
								8,358
								300
											2,252
								10,893
9. Restricted Funds 9a: Current Year Churchyard maintenance Harvest Festival/WaterAid Val Darkin Fund St Bartholomew’s fund Church projects incl. AV & Media, lighting & heat conservation Freehold property 9b: Prior Year Churchyard maintenance Harvest Festival/WaterAid Val Darkin Fund St Bartholomew’s fund Church projects incl. AV & Media, lighting & heat conservation Freehold property	At 1 January 2022 £ 11,023 0 16,031 1,935 12,458 305,000 346,447			Income £ Expenditure £ Transfers £ - (2,815) - 282 - - 868 (100) - - - - - (1,215) - - - - 1,150 (4,130) 0					Gains/ (losses) £ - - (801) - - - 0
	At 1 January 2022 £ 11,023 0 16,031 1,935 12,458 305,000 346,447										At 31
											December
												2022
												£
												8,208
												282
												15,998
												1,935
												11,243
												305,000
												342,666
				Income £ Expenditure £ Transfers £ 6,267 (1,580) - - - - 100 (300) - 1,935 - - - (2,542) - - - - 8,302 (4,422) 0					Gains/ (losses) £ - - 2,597 - - - 0
	At 1 January 2021 £ 6,336 0 13,634 0 15,000 305,000 339,970											At 31
											December
												2021
												£
												11,023
												0
												16,031
												1,935
												12,458
												305,000
												346,447

16

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2022

9. Restricted Funds (continued)

Descriptions of the various restricted funds are as follows:

• Churchyard maintenance . Funds received specifically for the maintenance of the churchyard

• Harvest Festival/WaterAid . Collection and distribution.

• Val Darkin Fund . Funds received specifically for the assistance of those in need. The assets of the fund are currently held in M&G accumulation units. Payments are made from cash and therefore the cash fund, shown here, will be negative until funded by the sale of accumulation units.

• Church projects incl. AV & Media, lighting & heat conservation . Funds received for these projects in the church building.

• St Bartholomew’s fund . Funds received specifically to help people from the church or Limpsfield school who need financial help.

• Freehold Property . The property at 24 Padbrook, Limpsfield RH8 0DW. Any proceeds from a future sale can only be used to purchase further clergy accommodation.

10. Unrestricted Funds

10a: Current Year Unrestricted Designated Church building & quinquennial Church hall & Glebe Meadow Donations fund Millenium Room Extension New AV facilities New boiler	At 1 January 2022 £ 148,697 20,000 5,000 15,000 198,286 10,000 5,767 254,053 402,750	At 1 January 2022 £ 148,697 20,000 5,000 15,000 198,286 10,000 5,767 254,053 402,750		Income £ Expenditure £ Transfers £ 249,338 (240,301) 248,286 - - (20,000) - - (5,000) - - (15,000) - - (198,286) - - (10,000) - (5,767) - 0 (5,767) (248,286) 249,338 (246,068) 0	Income £ Expenditure £ Transfers £ 249,338 (240,301) 248,286 - - (20,000) - - (5,000) - - (15,000) - - (198,286) - - (10,000) - (5,767) - 0 (5,767) (248,286) 249,338 (246,068) 0	Income £ Expenditure £ Transfers £ 249,338 (240,301) 248,286 - - (20,000) - - (5,000) - - (15,000) - - (198,286) - - (10,000) - (5,767) - 0 (5,767) (248,286) 249,338 (246,068) 0	Gains/ (losses) £ - - - - - - - 0 0	At 31	At 31
								December
									2022
									£
									406,020
									0
									0
									0
									0
									0
									0
									0
									406,020

The transfers from designated to unrestricted represent the direction of the PCC not to continue with designated funds for the foreseeable future.

17

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2022

10. Unrestricted Funds (continued)

10b: Prior Year Unrestricted Designated Church building & quinquennial Church hall & Glebe Meadow Donations fund Millenium Room Extension New AV facilities New boiler	At 1 January 2021 £ 188,033 20,000 5,000 15,000 200,000 10,000 38,000 288,000 476,033	At 1 January 2021 £ 188,033 20,000 5,000 15,000 200,000 10,000 38,000 288,000 476,033		Income £ Expenditure £ Transfers £ 169,905 (209,241) - - - - - - - - - - - (1,714) - - - - - (32,233) - 0 (33,947) 0 169,905 (243,188) 0	Income £ Expenditure £ Transfers £ 169,905 (209,241) - - - - - - - - - - - (1,714) - - - - - (32,233) - 0 (33,947) 0 169,905 (243,188) 0	Income £ Expenditure £ Transfers £ 169,905 (209,241) - - - - - - - - - - - (1,714) - - - - - (32,233) - 0 (33,947) 0 169,905 (243,188) 0	Gains/ (losses) £ - - - - - - - 0 0	At 31	At 31
								December
									2021
									£
									148,697
									20,000
									5,000
									15,000
									198,286
									10,000
									5,767
									254,053
									402,750

Descriptions of the funds are as follows:

• Church building & quinquennial . Funds set aside by the PCC to fund repairs to the church building, including those identified by the Quinquennial review.

• Church hall & Glebe Meadow . Funds set aside by the PCC to fund repairs and maintenance.

• Donations fund . Funds set aside by the PCC to fund Charitable purposes on behalf of the church.

• Millennium Room Extension . Funds set aside by the PCC to fund the extension to the Millennium Room

• • New AV facilities . Funds set aside by the PCC to fund the installation of new AV facilities in the church building.

• New boiler . Funds set aside by the PCC to fund a new boiler in the church and Millennium Room.

11. Related Party Transactions

David Bell, a member of the PCC until 4 May 2022, is also a trustee of the Limpsfield Church Trust. During the year the Limpsfield Church Trust made donations of £4,000 (2021: £30,000) to the PCC.

Members of the PCC made donations of £11,890 (2021: £13,440) to the church.

There were no other related party transactions.

18

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2022

12. Reconciliation of Net Assets & Funds 2020 & 2021 on an Accruals Basis

The previous accounts, to 31 December 2021, were drawn up on a receipts and payments basis. Following the change of basis to accruals accounting in 2022, the 2021 and 2020 accounts have been restated across the balance sheet headings as follows:

12a: 2020 As previously stated at 31 December 2020 Accruals adjustments 2020: Fixed assets Investments Debtors - lettings Debtors - grants Debtors – Gift Aid receivable Creditors - suppliers Funds transfer (expenditure not previously recognised) Total accruals adjustments Restated 31 December 2020	Fixed Assets £ Investments £ - - 363,277 - - 13,634 - - - - - - - - - - 363,277 13,634 363,277 13,634	Debtors £ - - - 1,282 19,600 5,800 - - 26,682 26,682	Bank & cash £ 413,004 - - - - - - - 0 413,004	Creditors £ - - - - - - - - (594) - (594) (594)			Restricted Funds £ Unrestricted Funds £ - 413,004 305,000 58,277 13,634 - - 1,282 19,600 - - 5,800 - (594) 1,736 (1,736) 339,970 63,029 339,970 476,033
						Total
						£
						413,004
						363,277
						13,634
						1,282
						19,600
						5,800
						(594)
						-
						402,999
						816,003

19

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2022

12. Reconciliation of Net Assets & Funds 2020 & 2021 on an Accruals Basis (continued)

12b: 2021 As previously stated at 31 December 2021 Accruals adjustments 2020 (see 13a above) Accruals adjustments 2021: Fixed assets Investments Debtors - lettings Debtors - grants Debtors - lettings Debtors – Gift Aid receivable Debtors – Gift Aid receivable Creditors - suppliers Creditors - suppliers Creditors – deferred income Funds transfer Total accruals adjustments Restated 31 December 2021	Fixed Assets £ Investments £ - - 363,277 13,634 643 - - 2,598 - - - - - - - - - - - - - - - - 363,920 16,232 363,920 16,232	Debtors £ - 26,682 - - (1,282) (19,600) 550 (5,800) 5,805 - - - 6,355 6,355	Bank & cash £ 364,942 - - - - - - - - - - - 0 364,942	Creditors £ - (594) - - - - - - - 594 (17) (2,235) - (2,252) (2,252)			Restricted Funds £ Unrestricted Funds £ 23,540 341,402 339,970 63,029 - 643 2,598 - - (1,282) (19,600) - - 550 - (5,800) - 5,805 - 594 - (17) - (2,235) (61) 61 322,907 61,348 346,447 402,750
						Total
						£
						364,942
						402,999
						643
						2,598
						(1,282)
						(19,600)
						550
						(5,800)
						5,805
						594
						(17)
						(2,235)
						-
						384,255
						749,197

20