2023-12-31-accounts

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

Charity Registration no. 1133240

Annual Report & Financial Statements 31 December 2023

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Report and Financial Statements 2023 Contents

	Page
Legal and administrative information	2
Report of the Parochial Church Council	4
Independent Examiner’s report to the Parochial Church Council	7
Statement of financial activities	8
Balance sheet	9
Notes to the financial statements	10

1

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Legal and Administrative Information For the year ended 31 December 2023

Charity Name Parochial Church Council Of Limpsfield and Titsey	Charity Name Parochial Church Council Of Limpsfield and Titsey	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 Joy Moore
Nila Spiller
Deanery Synod Representative Paul Budgen
Sarah Butt		Until 3rd May 2023
Marcell Wright
Elected members Caroline Campbell		(secretary)
John Biles
Lynda Boast
Dominic Campbell
Sarah Ching
Charlotte Corrish
Lindsey Dunbar
Pauline Whyte
Pat Davies
Ann Hollywood
Gareth Morgan
Stephen Tuddenham
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
Independent Examiner	Stewardship Services (UKET) Ltd
Quinquennial Inspector	Andy Burrell,
	Carden & Godfrey Architects
	33 Clerkenwell Close,
	London EC1R 0AU

2

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Report of the Parochial Church Council For the year ended 31 December 2023

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 2023. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2019 (FRS102)). 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 2023. 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 2024

This has been another busy year in the life of St. Peter’s and we are grateful to God for that. Whilst we are deeply saddened that a number of long-standing members of community have passed into the care of our Lord we are also pleased that our numbers have been swelled by new people joining us.

Our All-Age Service remains popular with the younger families in our community but is also well supported by our core group of longer standing church members. Messy church has evolved during the course 2023/4 and now attracts a lot of pre-school children and their families. We are also now encouraging the teenagers in our church to help with the running of Messy Church and it has been wonderful to see them stepping up and helping to support the running of this service.

3

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Report of the Parochial Church Council For the year ended 31 December 2023

All the major festivals were once again fully celebrated and we were delighted this year to welcome over 1500 adults and children through the door for our various Christmas services. The collections taken in these services were divided between our three chosen Christmas charities. Remembrance Sunday is also an important service where many of the wider community join us and at our Harvest Festivals in church and in our community orchard we gave thanks for all that has been bestowed on us.

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 a regular visitor to Hazelwood the other junior school in our parish. Both of these schools also visit St. Peter’s at Christmas, Easter and Harvest to celebrate these important moments in the church calendar. We were pleased at Christmas to welcome back Limpsfield Grange School for their nativity service.

We celebrated the Coronation with a Village picnic on the Glebe field.

I am currently a governor at both Limpsfield Grange and Limpsfield Infant school and in this and other ways I ensure that our local schools are well supported.

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. Again, this year a number of our baptism families have become 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, Big Paint, quiz night and lent lunches.

We are conscious of the responsibility we have to maintain the fabric of our beautiful church and are grateful to both the Limpsfield Church Trust and the Friends of St. Peter’s who offer us the financial support needed to keep our church in good repair.

4. Financial Review

A surplus of £125,473 was recorded in 2023.

This has largely been due to the receipt of legacies totalling £108,000. However, although we have sadly seen the death of a number of our members, including substantial donors, it is pleasing that there has been an overall increase in both regular Planned Giving and other giving through card and online donations. The Hall/Glebe/Pavilion lettings have produced a useful income stream.

Church and churchyard expenditure, including importantly energy costs, have been tightly controlled.

4.1 Financial Activity and Financial Position

The PCC’s main sources of funding have been the free will offerings of congregants, donations from trusts and lettings income and legacies.

The Statement of Financial Activities and Balance Sheet can be found on pages 8 and 9 respectively. The Church’s reserves increased by £125,473 during the year (2022 – increased by £4,958). The balance sheet shows total net assets of £879,897 (2022: £754,154).

The Church has three types of funds: unrestricted, restricted and designated. Total cash funds are £499k. Cash funds, previously shown as Designated for specific projects have now been absorbed into Unrestricted (General) Funds. Unrestricted cash funds, total just over £482k.

Included in total funds are amounts totalling £340,820 (2022: £342,666) 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 9 to the accounts together with an analysis of movements in the year. Restricted cash funds, totalling £17,009, 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 and the house in Padbrook where any proceeds from a future sale can only be used to purchase further clergy accommodation.

4

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Report of the Parochial Church Council For the year ended 31 December 2023

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 2023 the church had net free reserves of £480,689 (2022: £352,834) as follows:

Total reserves Less: restricted funds Less: unrestricted fixed assets Free reserves Free reserves requirement: 4 month’s budgeted routineunrestrictedexpenditure	2023	2022 £ 754,154 (342,666) (58,654)
	£
	879,897
	(340,820)
	(58,388)
		352,834
	480,689
		80,000
	80,000

5. Financial Plans for Future Periods

With the need to continue to build the effectiveness of our Church by the use of ‘paid for’ services such as book-keeping, 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, inevitably, relatively high. Further, we would wish to support the Diocesan Clergy costs to the best of our ability.

While we have continued to see some increase in Planned and other Giving but with significant giving from the older members of our Church likely to fall away, we will do well to maintain these 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.

While lettings of the Hall/Glebe/Pavilion have been very useful sources of income in recent years the Hall has now lost its largest client. Work has already been done to seek new customers but there will need to be a major rethink about the use of these assets.

St Peter’s has recently launched ‘Friends of St Peter’s’ in 2023 to try to encourage the wider community to donate specifically for the upkeep of the fabric of the Church. There has been a modest start and plans are being developed to relaunch this and to encourage, for the longer-term, Legacy Giving.

The Church now has cash reserves of nearly £500,000 but the PCC is resolved to preserve these reserves against future uncertainties and any significant projects will need to be carefully considered.

5

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Report of the Parochial Church Council For the year ended 31 December 2023

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.

7. Approval

The report of the PCC was approved by the PCC on 20 March 2024 (subject to examination) and signed on its behalf by:

Rev. Helen Cook Rector

6

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Statement of Financial Activities For the year ended 31 December 2023

I report on the accounts of the Parochial Church Council of St. Peter’s Limpsfield for the year ended 31 December 2023, which are set out on pages 8 to 17.

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.

Stewardship Services (UKET) Ltd

7

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Statement of Financial Activities For the year ended 31 December 2023

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/(expenditure) Transfers between funds Other recognised gains and losses Net movement in funds Total funds brought forward Total funds carried forward	Unrestricted Funds 2023 £ 262,447 7,220 72,082 24,755	Restricted Funds 2023 £ 2,600 - - 916 3,516 - 5,006 5,006 (357) (1,847) - - (1,847) 342,666 340,819		Unrestricted Funds 2022 £ 163,660 7,855 61,892 20,860 254,267 44,493 201,035 245,528 - 8,739 - - 8,739 402,749 411,488	Restricted Funds 2022 £ 382 - - 768 1150 - 4,130 4,130 (801) (3,781) - - (3,781) 346,447 342,666	Total 2022 £ 164,042 7,855 61,892 21,628
			Total
			2023
			£
			265,047
			7,220
			72,082
			25,671
	366,504					255,417
			370,020
	44,333 194,581 238,914 - 127,590 - - 127,590 411,488 539,078					44,493 205,165
			44,333
			199,587
						249,658
			243,920
						(801)
			(357)
						4,958
			125,743
						- -
			-
			-
						4,958
			125,743
						749,196
			754,154
						754,154
			879,897

8

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Balance Sheet For the year ended 31 December 2023

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 2023 £ 58,388 - 58,388 10,591 481,991 492,582 9,292 483,290 541,678 - 541,678 541,678	Restricted Funds 2023 £ 305,000 16,210 321,210 - 17,009 17,009 - 17,009 338,219 338,219 - 338,219			Total 2022 £
			Total
			2023
			£
			363,388		363,654
			16,210		16,199
			379,598		379,853
			10,591		7,359
			499,000		377,835
			509,591		385,194
			9,292		10,893
			500,299		374,301
			879,897		754,154
			338,219		342,666
			541,678		411,488
					754,154
			879,897

The financial statements were approved by the PCC on 20 March 2024 (subject to examination) and signed on its behalf by:

Rev Helen Cook

9

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2023

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.

10

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2023

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 from 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.

11

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2023

2. Income

Unrestricted Funds 2023 £ Voluntary income Donations 131,722 Income tax reclaimed 22,703 Legacies 108,022 Grants - 262,447 Charitable activities Fee income (net) 7,220 Other trading income Parish News 3,571 Lettings income – Hall 34,089 Lettings income – Glebe 31,931 Other 2,491 72,082 Investments Dividends - Interest 6,155 Rent income - Padbrook 18,600 24,755 366,504	Restricted Funds 2023 £ 2,600 - - - 2,600 - - - - - 0 916 - - 916 3,516				Total 2022 £ 116,506 22,165 12,677 12,694
			Total
			2023
			£
			134,322
			22,703
			108,022
			0
					164,042 7,855 3,365 31,703 24,198 2,626
			265,047
			7,220
			3,571
			34,089
			31,931
			2,491
					61,892 768 2,260 18,600
			72,082
			916
			6,155
			18,600
					21,628
			25,671
					255,417
			370,020

3. Expenditure on Raising Funds

Unrestricted Funds 2023 £ Fundraising 4,352 Parish News 3,466 Glebe 8,266 Padbrook 758 Hall running 27,491 44,333	Restricted Funds 2023 £ - - - - - 0				Total 2022 £ 186 3,481 8,653 4,340 27,833
			Total
			2023
			£
			4,352
			3,466
			8,266
			758
			27,491
					44,493
			44,333

12

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2023

4. Expenditure on Charitable Activities

Unrestricted Funds 2023 £ Provision of Clergy (including Common Fund) 102,000 Church life & outreach 17,455 Gifts & grants (see note 4a) 2,816 Office costs 39,532 Provision of Church building, facilities & equipment 32,478 Governance 300 194,581	Restricted Funds 2023 £ - - 100 200 4,706 - 5,006				Total 2022 £ 102,000 22,209 2,956 34,824 42,876 300
			Total
			2023
			£
			102,000
			17,455
			2,916
			39,732
			37,184
			300
					205,165
			199,587

4a Gifts & Grants

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

Unrestricted Funds 2023 £ Gifts & grants to: Organisations 2,816 Individuals - 2,816	Restricted Funds 2023 £ - 100 100				Total 2022 £ 2,856 100
			Total
			2023
			£
			2,816
			100
					2,956
			2,916

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		2023		2022
		£		£
		21,675		19,506
		441		368
		22,116		19,874
		21,675		19,506
		441		368
		22,116		19,874

The average number of employees during the year was 1 (2022: 1), being 1 (2022: 1) part time administrator. No employees received payments in excess of £60,000 during the year.

13

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2023

5. Tangible Fixed Assets

Cost/valuation At 1 January 2023 Additions Disposals At 31 December 2023 Depreciation At 1 January 2023 Charge For Year Disposals At 31 December 2023 Net Book Value At 31 December 2023 At 31 December 2022	Freehold land & buildings £ Leasehold land & buildings £ Office equipment £ 305,000 58,277 798 - - - - - - 305,000 58,277 798 - - 421 - - 266 - - - 0 0 687 305,000 58,277 111 305,000 58,277 377
			Total
			£
			364,075
			-
			-
			364,075
			421
			266
			-
			687
			363,388
			363,654

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		Total 2022 £ 16,232 768 - (801) 16,199
		2023
		£
		16,199
		368
		-
		(357)
		16,210

The quoted investment is in the M&G Charifund Income units (2022: M&G Charifund Accumulation units).

14

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2023

7. Debtors

7. Debtors
Prepayments Lettings receivable Gift Aid receivable		2023		2022 £ - 1,116 6,463 7,579
		£
		3,788
		1,384
		5,419
		10,591

8. Creditors - Amounts Falling Due Within One Year

Deferred income Trade creditors Accruals Other creditors including taxation and social security		2023		2022 £ 2,235 8,358 300 -
		£
		-
		7,557
		1,506
		229
				10,893
		9,292

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		At 1 January 2023 £ 8,208 282 15,998 1,935 11,243 305,000 342,666	Income £ Expenditure £ Transfers £ - (4,706) - - - - 916 (100) - - (200) - - - - - - - 916 (5,006) 0	Income £ Expenditure £ Transfers £ - (4,706) - - - - 916 (100) - - (200) - - - - - - - 916 (5,006) 0	Income £ Expenditure £ Transfers £ - (4,706) - - - - 916 (100) - - (200) - - - - - - - 916 (5,006) 0	Income £ Expenditure £ Transfers £ - (4,706) - - - - 916 (100) - - (200) - - - - - - - 916 (5,006) 0	Gains/ (losses) £ - - (357) - - - (357)	At 31	At 31
								December
									2023
									£
									3,502
									282
									16,457
									1,735
									11,243
									305,000
									338,219

15

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2023

9. Restricted Funds (continued)

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	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	Income £ Expenditure £ Transfers £ - (2,815) - 282 - - 868 (100) - - - - - (1,215) - - - - 1,150 (4,130) 0	Income £ Expenditure £ Transfers £ - (2,815) - 282 - - 868 (100) - - - - - (1,215) - - - - 1,150 (4,130) 0	Gains/ (losses) £ - - (801) - - - 0	At 31	At 31
								December
									2022
									£
									8,208
									282
									15,998
									1,935
									11,243
									305,000
									342,666

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 were held in M&G accumulation units but have been switched to income units in 2023. Payments are made from cash and therefore the restricted fund, shown here, is currently less than the value of the investment. Going forward, following the switch to income units in 2023, payments will be made out of dividend income and therefore, without the reinvestment of dividend income, the expectation is that the restricted fund, comprising investment and cash, will have a value in excess of the investment value.

• 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 Friends of St Peters		At 1 January 2023 £ 411,488 0 0 411,488		Income £ Expenditure £ Transfers £ 366,504 (238,914) 2,600 - - 2,600 0 0 369,104 (238,914) 0	Income £ Expenditure £ Transfers £ 366,504 (238,914) 2,600 - - 2,600 0 0 369,104 (238,914) 0	Income £ Expenditure £ Transfers £ 366,504 (238,914) 2,600 - - 2,600 0 0 369,104 (238,914) 0	Gains/ (losses) £ - - 0 0	At 31	At 31
								December
									2023
									£
									539,078
									2,600
									2,600
									541,678

16

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2023

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 2022 £ 148,696 20,000 5,000 15,000 198,286 10,000 5,767 254,053 402,749		Income £ Expenditure £ Transfers £ 254,267 (239,761) 248,286 - - (20,000) - - (5,000) - - (15,000) - - (198,286) - - (10,000) - (5,767) - 0 (5,767) (248,286) 254,267 (245,528) 0	Income £ Expenditure £ Transfers £ 254,267 (239,761) 248,286 - - (20,000) - - (5,000) - - (15,000) - - (198,286) - - (10,000) - (5,767) - 0 (5,767) (248,286) 254,267 (245,528) 0	Income £ Expenditure £ Transfers £ 254,267 (239,761) 248,286 - - (20,000) - - (5,000) - - (15,000) - - (198,286) - - (10,000) - (5,767) - 0 (5,767) (248,286) 254,267 (245,528) 0	Gains/ (losses) £ - - - - - - - 0 0	At 31	At 31
								December
									2022
									£
									411,488
									0
									0
									0
									0
									0
									0
									0
									411,488

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

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 no donations (2022: £4,000) to the PCC.

Members of the PCC made donations of £9,071 (2022: £11,890) to the church.

17