st mar In'scHURCH DORKING PAROCHIAL CHURCH COUNCIL OF ST MARTIN'S CHURCH, DORKING with ST MARY'S CHURCH, PIXHAM SUMMARY ANNUAL REPORT & CONSOLIDATED FINANCIAL STATEMENTS for the YEAR ENDED 31" DECEMBER 2023 Incumbent: Vacancy frorn I" September 2022 St. Martin's Vicarage, West¢ott Road. Dorking RH4 3DN Bankers: Lloyds Bank Epsom Branch, PO Box IIM)O BXI ILT Investment Managers: CCLA Investment Management Ltd. One Angel Lane, London EC4R 3AB M&G Charities. PO Box 9038, Chelmsford CM99 2XF Custodian Trustee: Guildford Diocesan Board of Finance. 20 Alan TuTing Road, Guildford GU2 7YF Insurers: Ecclesiastical Group, Beaufort House, Brunswick Road, Gloucester GLI IJZ Independent Examiner: Adam Halsey, Haysmacintyre LLP, 10 Queen Street Place. London EC4R IAG Registered Charity 1133695
ST. MARTIN'S, DORIaNG Ivith ST. MARY'S, PIXHAM TRUSTEES ANNUAL REPORT for the year ended 31 December 2023 Table of Contents Starting Page Number Trustees Annual Report Objectives and activities Achievements and perfomiance Strncture, governance and management Financial Review 2023 Reserves Policy io Statement of Tnjstee's Responsibilities Administrative Details Independent Examiner's Report 13 Statement of Financial Activities 14 Consolidated Balance Sheet 15 Balance Sheets for other Charities 16 Notes to the Financial Statements 20
ST. MARTIN'S, DORKING with ST. MARY'S, PIXIIAM TRUSTEES AINNUAL REPORT for the year ended 31 December 2023 OBJECTIVES AND ACTIVITIES Objectives and aims The primary object of each Parochial Church Council is the promotion of the Gospel of our Lord Jesus Christ according to the doctrines and Practices of the Church of England. The St Martin's PCC 15 a150 respoTJsible for its daughter church of St Mary's, Pixham. St Martin's and St Mary's are open, living, Christian communities, seeking to worship God and to enrich the life of Dorking and the world. We seek to celebrate and share the love of God for all: in prayer, reflection and action. by listening, leaming and growing together. through serving others and the wider world. St Martin's and St Mary's are friendly. inclusive, welcoming churches. We offer a broad churchmanship and welcome people from all sections of the community to engage with church life. whatever thelr needs. Worship is at the heart of our church life. We seek to provide a varied pattern of services that reflects the Chrislian year and serves all of our worshipping communily. We strive for worship that is insightful. uplifting and connected to Teal life. The development of faith is essential to the life of our Christian community. We belleve in faith as a journey and aim to develop learning opportunilies so that people may explore their 5Pirituality and their relationship with God. Children and youThg people arc an essential part of our life, and we want to build good relationships with all our local schools, especially our church school. We want to include children and young people in our community of faith, to nurture their spiritualtty and to ensure their safety by complying with the law and following best practice. We seek to be worthy stewards of our financial and material assets to the service of OUT comniunily and the wider world. We are custodians of a well-equipped tom centre site and are blessed with an amazing location. We work hard to maintain our buildings and grounds within certain financial constraiT]ts. We are exploring new ways of developing our space to the benefit of our community and those with whom we share our slte. We actively promote and support the Dorking Town Centre Fornm, the Dorking Area Foodbank and Churches Together in Dorking. We aim lo ensure thal pasloral care is available to all, not just those with obvious vulnerabilities. We specifically try to make the idea of inclusion real at every level of our life together. Public benefit St Martin's PCC has the responsibility of cooperating with the Incumbent in promoting the mi8sion of the Church for the public benefit both within the wider Mission Action Zone of Dorking as well as within the ecclesiastical parish. In conducting its activities the PCC has ¢onsidered the Charity Commission's guidance on public benefit and also the supplementary guidance on charities for the advancement of religion.
ST. MARTIN'S, DORKING with ST. MARY'S, PIXHAM TRUSTEES ANNUAL REPORT for the year ended 31 December 2023 ACHIEVEMENTS AND PERFORMANCE The Benefice has been without an incumbent since August 2022. Rights of presentation to the Benefice were suspended for five years from October 2022 to allow consideration of the future relationships with neigbbouring parishes to better serve tbe needs of the people in the area. All three of our churches in ihe Benefice share a vtsion to grow our ministry and mission to the commuThities we serve. We are now in the Process of advertising for a ll_tiMe priest-in- charge. During the vacancy our wonderful team of non-stipendiary and retired clergy and a Licensed Lay Minister have been leading our worship and ministry throughout 2023. They are very well supported by our churchwardens (both appointed at the APCM in 2023), the PCC and a team of voluntee. The congregation at both churches has declined in rwent years. exacerbated by the pandemic. However, there have been very encouraging developments during 2023 and the congregation has started to grow again ai St Martin's. Some members are rebjrning after absence and others are new to the church. There is a renewed sense of excilement about the ture. and we look fonvard io working with the new Interim Priest when appointed. We are ready to develop our ministries to engage as widely as we can in a community where most people are not regular churchgoers. In September 2023 the parish of St Martin's held a Stewardship Sunday to encourage giving to the work of the parish both financially and via time given to the many roles needed to enable the parish to thrive. St Martin's. as the civic church for Dorking, hosts the annual ReTnembrance Sunday service and leads the town in worship at the Dorking War Memorial. We participate regularly in special events in the town. For example, we offer hospitality in the church on ihe town's Cl)ristmas Gala event and offer tours of the building and the bell tower during Heritage Weekend. We aim to have an active and lively preseThce in the tom, and this is beginning lo grow again. St Martin's church 15 used for concerts by local groups as is St Mary's. At Sl Martin's we are developing special Sunday services on Harvest, Christingle and Mothering Sunday which have a broader appeal, and our Harvest service attendance w&5 174. This year for the first time we produced two large banners advertising all the Christnlas services and we intend io continue this increased Profile along with our social media links. St Martin's Church building is open 7 days a week and it is slriking how tnany people come tbrough the doors during the week to light a candle, to pray and reflecL or just to look around. There are many opportunities here for mission and ministry. Many people leave a written prayer in the prayer corner. On a practical front during 2023 plans have been made to replace the ailing boilers and funding for this will come from the Friends of St Martin's. The necessary pernlission has been given for a major pruning of trees and tAdying up in the churchyard. Members of the congregation have continued to keep the grounds tidy, especially in the Garden of Remembrance. Routine high-
ST. MARTIN'S, DORKING Ivith ST. MARY'S, PIXHAM TRUSTEES ANNUAL REPORT for the year ended 31 December 2023 level inspection of safety lines. lightning protection testing and gutter clearance were carried out in October 2023. A small repair in the Lady Chapel roof has been Caled out. The smaller Church of St Mary's was designed for worship and community meetings as only the Chancel is consecrated. Various activities take place including Messy Church on an ad hoc basis for members of the local community. Details of activities are advertised in the Pixham Post which is delivered by the Residents Association. Si Mary's Church uses electrical heating and energy is obtained from a green Parish Buying contract. St Mary's liaise closely with the Pixham Residents Association to support each other in fundraising and social activities during the year. The church takes part in local Heritage celebrations with a special service, displays and refreshments. St Martin's has close links with St Martin's Church of England Primary School, and these links have been significantly strengthened in the vacancy. We welcome the whole school, together with the children's families, to St Martin's for SeiceS at Christmas. Easter and Harvest Festival. We also host the Year 6 Leavers, service. We have recently further developed these close links with the school by introducing an annual assembly in the church for each year group. In 2023, for the first time, St Martin's School choir sang at our Harvest Festival setvice which was a very joyfijl occasion wtth the children's families and staff from ihe school joining us as well. Our hope is that this will become a fixtLe in ow calendar. At the Harvest FestÉval service a window was dedicated to the school. OUT Youth Organisations Co-ordinator plays Im imporL%nt role with links to the unifonned organisations. Members of our vacancy team support collective worship al St Martin's School and one of our clergy learn members is a School Govemor. A monthly prayer group is held on a Monday morning at the School w.Ch includes small groups of pupils and adults from St Martin's and other churches. Monthly meetings take place between the Co-headteachers and St Martin's Churchwardens and our School Govemor representative. We are planning with the school to develop a project about Saint Martin with Year 6 pupils. Our Chair of the PCC is a Governor at The Priory, a Church of England secondary school in the town. Looking forward, St Martin's and St Mary's wtth their distinctive characteTlStics give a wide range of mission opportunities and within the wider Dorking Group of Churches. We welcome the opportllnity to work wtth other churches in Dorking to promote Christianity to individuals and to comTnunity groups of all kinds. We especially value our links with the Anglican evangeltcal St Paul's Church, sited up the hill on the south side of town and we wish to strengthen this contact whilst retaining our own ways of mission. We are members of Churches Together in Dorking (CTD) which since the pandemic has been less active. The main current ecutnenical event 15 a Good Friday service in St Martin's churchyardlchurch. There is scope to spearhead new inillalives including some joint services and mission events. CTD was instnunental in starting the Dorking Food Bank which continues to operate from the Cl)ristian Centre. St Martin's Church is open every day. Visitors may come to seek quiet, reflect, light a candle in the prayer corner, or simply enjoy looking around our very beautiful church. Young ¢hildren enjoy the children's corner at the back of church, and this is a well-used space during the week
ST. MARTIN'S, DORKING with ST. MARY?S, PIXHAM TRUSTEES ANNUAL REPORT for the year ¢nded 31 December 2023 as well as during services. We ate proud to have our church open for local people and tourists. Our church belongs to the people of Dorking. Looking forward we would like to consider the redevelopment of the back of St Martin's Church so that we have onsite hospitality facilities but this and other matters cannot be undertaken until we have a priest in place. This is a long vacancy (since August 2022), but the congregations of both St Martin's and St Mary's remain in good heart and look fonvard to welcoming a new priest in charge. In the meantime, the churchwardens are most grateful to both lay alld clergy who help at St Martin's and St Mary's. Thank you. STRUCTURE, GOVERNANCE AND MANAGEMENT The Parochial Church Council is a Corporate body established by the Church of England. The PCC operates under the Parochial Church Counctl Powers Measure, and registered with the Charity Commission as a Charity in January 2010. Under a Union of Benefice Measure (1960) the parish is linked to that of St Bamabas, Ranmore whtch has its own PCC and is independent. The Bishop of Guildford implemented a Pastoral Order under Section 17 of the Mission and Pastoral Measure 2011 with effect from I" December 2018. Under ihis order a Group Ministy was established for the benefices of DoTking with Ranmore, Dorking St Paul, and North Holniwood St John the Evangelist. During 2023 regular PCC meetings were held and additionally some joint rneetings with St Barnabas Church in order to adopt the newly Titten Benefice parish pmfile ahead of advertising for an interim priest in cbaTge. The PCC includes representatives from the congregation and the clergy. The appointment of PCC members is governed by the Church Representation Rules. The 2(KH APCM agreed that there should be an extra lay place for a representative from the daughter church of St Mary's, Pixham. That pla¢¢ is Currently vacant. The PCC has cotnplied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have regard to the House of Bishop's guidance on safeguarding of Childn and vulnerable adults). It has delegated to the Guildford Dio¢ese the responsibility for reporting to the Charity Commission any serious incidents that occur. In 2021 the Shared Church agernent with Dorking Methodist Church came to an end following the closure of the Methodisi Church in Dorking. Once a new priesl is appointed to the parish of St Martin's ongoing arrangements with the Christian Centre can be fjnalised. Reference and admRnistrative details These details are shown on the cover page and on page I l.
ST. MARTIN'S, DORKING with ST. TrIARY'S, PIXHAM TRUSTEES ANNUAL REPORT for the year ended 31 December 2023 FINANCIAL REVIEW 2023 These accounts are consolidated financial ststements of St Martin's Church with its daughter church of St Mary's Pixham and a number of related separate charities. A simple summary of assets at 31" December shows: Charity l Fund St Martin Unrestricted Restricted Endowment TOTALS 81,328 100,950 473,382 655,660 St Mary Other Charities 42,329 11,417 53,746 70.027 341,015 411,042 TOTALS 123,657 182,394 814,397 1,120,448 See details in.. Note 7 Note 8 No15&9 This shows a small increase in total Unrestricted assets at year end, in part thanks lo an increase in CCLA investment values. The market value of Endowment investments also increased. Restricted assets show a small reduction from the previous year end. The largest fanCIal commitment of many churches is Parish Share- monies the Diocese needs to be able to pay and support a stipendiary priest, including the costs of housing, Iraining etc. Parish Share receipts also meet Diocesan costs and some National Church costs. Si Martin's with its daughter church of St Mary's Pixham 15 part of a United Benefice with Si Barnabas Ranmore and the churches share one stipendiary priest. The arrangement put in plac¢ when this benefice was fornied apportion the stipendiary priest cost between the two PCCS. Seven eighths of this cost applies to St Martinlst Mary together with the remaining one eighth to St Bamabas. The current parish share system allows some relief from full parish share for vacancies that last over 12 months. In our case this applies from I" September 2023 until someone is in post. Some of the income generated from weddings and funerals is also retained for the durdtion of a vacancy rather than being paid to the Diocesan Board of Finance. Going Concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foresee&ble future. For this reason they continue to adopt the going concern basis in preparing the f&nan¢&al statements. Further details regarding the adoplion of the going concern basis can be found in the accounting policies. Ai the year end the PCC was owed funds from the George White charity related to the financial support for Church Administrator costs. It is expected that this will be paid during 2024.
ST. MARTIN'S, DORKtNG wAth ST. MARY'S, PIXHAM TRUSTEES ANNUAL REPORT for the year ended 31 December 2023 St Martin's Church General and Parish Share Some of the discussions with the Diocese about the filling of the current vacancy have centred on the financial situation and affordability given the Tecenl annual defjcits. A number of options were explored internally and with the Diocesan Director of Finance (Malcolm Twigger-R055). One option was then adopted for 2023 with an intention to use this again for 2024 and potentially 2025. This option is to spend some of the unspent investment income in the George White Trust.. this amounted to over £77K at the end of 2022. The Trust was created in July 1969 for"Augmenting Vicar's Stipend". with a subsequeTrt alteration to its objects in 1984 10 pay'clergy expenses" These accounts reflect £19K of George White money being used to support the payment of parish shaTe ratber than using PCC uA]restricled funds. The extended vacancy reduced the parish share avnount due by £6,600 and reduced amount of £67,824 wa5 paid by the end of December. The George White investment5 generated income during the year and the balance of unspent income remains high at £69K at the end of 2023. For 2024, the un-reduced share amount is £75K. An extended vacancy reduces this by £1,884 per month, so ihe total required for 2024 will be a smaller amount subject to a minimum amount of £53K. Discussions with the Diocese included the £23K unpatd parish share from 2011 related to the then extended vacancy. We have not yet received confirniation that this is now being written Commentary The 2022 accounts recorded the large, restiicted income from the Friends of Sl Martin's (a separate registered charity. 283966) relating to the lighting replacement project and also most of the associated expenditure. These accounts include the remaining project payments made in 2023, the retention payment due in 2024 and the refund to the Friends of the balance of their funding for the project. The income for 2023 also includes a successfijl claim for a VAT grant under the Listed Places of Worship scheme in respect of the completed lighting project. In 2023 sotne preparatory work w&s done on a memorial to the late Queen Elizabeth II. paid by St Martin's and reflmded by the Friends. Unrestricted donation income was up on 2023 thard(s to increased attendance at services and the results of an autumn stewardship campaign. A contactless donation unit was installed in March to support card donations especially for the many visitors to the church during the week. Over £1600 was donated this way during 2023 with extra from applicable gift aid. The best months were September and October with a total of over £700. Investment income re¢eived improved in 2023 in line with market conditions. The monthly rent for the investment flat was increased from Febrnary renewal, but the net income is a little reduced as a result of an increase in seryice charges and ihe need to replace the washing machine. A further rental incr&qse was applied from Febtuary 2024.
ST. MARTIN'S, DORKING with ST. MARY'S, PIXHAM TRUSTEES ANNUAL REPORT for the year ended 31 December 2023 The differences in the Parish Share expenditure amounts and the split between funds is described above. Vicarage expendilure has increased because the PCC is responsible for energy costs during the vacancy. Church running costs only increased by small amount despite Significant increases tn electricity rates for standing charges and usage. A one-off Diocesan grant of £1,000 was received to help offset thts increase and is included in the accounts as a donation. The introduction of energy efficient LED lighting has helped reduce consumption even though some lighting is on for a period automatically as visitors a1Ve. Gas costs would have been greater had it been posslble to run more than the one operational botler and heat the building to a more acceptable level. The very good long-term gas contract ended in January 2024 and the new unit cost is double. The two replacement more efficient boilers will help, but heating costs from Autumn 2024 will be significantly more than 2023, albeit much less than electric radiator heating would be. Maintenance costs for church and churchyard 15 down to more norn]al levels, wilh more than half being paid from restricted funds, including those from the Spratley Trnsl. A high-level gutter and gully clean was done in conjunction with the periodic safety line inspection and lighthing protection system testing. OIYi¢e Costs in¢reased. partly through Increased Church Administrator pay but also through cost increases. Unlike previous years the George While TNst did not contribute towards salary costs as it was providing a greater sum to pay Parlsh Share. The expenditure on Developments mainly relates to the final lighting project invoices, but also initial design work for a QEII memorial with this latter cost refunded by the Friends. "Buy-lo-lel" flat The'buy-to-let" flat has been revalued for the first time since its purchase at the estimaied value provided by a local estate agent. Early in 2024 the managing agents for the flat served the PCC with a Section 20 Notice (Notice of Intention) foT a c&sh call of around £2,800 to replace a boundary wall. This can be covered from the cash remaining from the legacy after the purchase. No provision is included in the 2023 for this estimated liability. Thanks We remain most grate1 to Friends of St Martin's for their continuing support. They have agreed to fund the whetne to replace the church boilers for which the necessary faculty was granled in 2023. Work could not start immediately and was not contracted for until 2024. so no PTovision has been made in these accounts. It remains the case that routine maintenance items should tLorrnally be funded from the church's own resources. We are also grateful to various people who have provided commentary on PCC finances especially in support of discussions with the Diocese.
ST. MARTIN'S, DORKING with ST. MARY'S, PIXHAM TRUSTEES ANNUAL REPORT for the year ended 31 December 2023 St Mary's Church Pixham a small deficit on general funds of £1,677. As warned in the 2022 accounts, the exceptional level of hiring and associated income in that year did not ontinue but there was a saving in beating cosls. Much effort continues to be put into seeking hirers to provide an income. Anne Brown continued her fundraising work to build up Te5erves for the fabric repairs identified in the quinquennial. Unlike St Martin's there is no 'Friends' organisation to provide funds. Reserves policy At the 31 December 2023 the churches of St Martin with St Mary had unrestricted ndS lotalling £123,657 (2022.. £121.566). The restricted fijnd totals for those churches together with other charities totalled £182,394 {2022: £183,621). As the purposes of the reslricted ndS in the main are to augment the stipend of the vicar. promote religious work in the parish or maintain the fabric of ihe church the trustees will consider the level and purpose of restricted nds when developing the policy for unrestricted funds. The unrestricted reserves amount to around a year's expenditure. The tSteeS anticipate that this level of funds will enable a significant contribution lo be made towards the development plan referred to under the heading of "Plans for future periods" below and still retain a sufficient level of reserves to meet the current and future obligations of the church. Principal funding sources The main source of income for the churches is giving. Donations and legacies amounted to £72,745 (2022: £131.278). The figure for 2022 included a large donation from the Friends in respecl of the lighting replacement scheme. Currently the only source of income for the separate charities is that from investmenls. Investment policy and objectives The charity has investments totalling £105,431 included within unrestricted funds (2022- £96,292). These funds are short tenn investmenls invested through CCLA. The investments of separate charities are managed either by CCLA or M&G. Plans for future periods The trustees have approved a development plan to recruit a new incumbent and then work together to promote the mission of both St Martin's Dorking and St Mary's Pixham. The trustees have caTried out an extensive review of both the restricted and unrestricted funds to identify surplus funds which can be utilised to help finance the development and establish a reserves policy to ensure sufficient fund5 are available to finance the future operations and obligations of the church. io
ST. MARTIN'S, DORKING with ST. MARY'S, PIXHAM TRUSTEES ANNUAL REPORT for the year ended 31 December 2023 Statement of Trustees, Responsibilities The trustees are responsible for preparing the trustees, report and the fmancial statements in accordance with general applicable law and United Kingdom Accounting StandaTds (United Kingdom General Accepted Accounting Practice). The law applicable to charitie5 in England and Wale5 require5 the trustees to prepare fmancial statements for each financial year which give a true and fair view of the stale of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial slatements, the tTUStees are required to= select suilable accounting policies and ihen apply them consistently- observe the methods and principl¢s in the Charities SORP. ake judgments and estimates that are reasonable and prudent. state whether applicable accounting standard5 have been followed, subject to any material departures disclosed and explairled in the financial statemetLts,' prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity wÉll continue in business. The trnstees are responsible for keeping proper accounting records that disclose with reasonable accurdcy at any time the financial position of the charity and enable them to ensure that the fmancial statements produced from them comply with applicable legal requirements. They are also responsible for safekeeping the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. REFERENCE AND ADMINISTRATIVE DETAILS Charity Registration The PCC registered with the Charity Commission in January 2010. number 1133695 under the name The Parochial Church Council ofthe Eccluiaslical Parish ofDorking Saini Marlin. It is also known as St Martin's Church, Dorking. The separate Vicar and Churchwarden Charities contributing to the consolidated accounts are listed in Accounts Note l(g) on page 21.
ST. MARTIN'S, DORKING with ST. MARY'S, PIXHAM TRUSTEES ANNUAL REPORT for the year ended 31 December 2023 Membership of the PCC Members of the PCC are either ex otTicio or elected by the Annual PaTo¢hial Church Meeting (APCM) or co-opted in accordance with the Church Representation Rules. Jn the year staTting I" January 2023, and until the approval of the Annual Report and Financial Statements for 2023, the following served as members of the PCC: Incumbent: Vacancy Felicity Cheetha Judy Peace Canon Peter Bruinvels Nick Hands-clarke ChurchwaTdens: From 21° May 2023 From 21" May 2023 Vice-chafftrnian PCC Treasurer Note 3 Deanery Synod.. Note I Note 2 LLM (Reader).. Elected Members: Chris Watts Jenny Bartholomew Diana Burges Catherine Dornia Christtne Francis Christine Lawrence Judy Peace Alan Roome Veronica Watts Anne Whibberley Robina Williams From 21, May 2023 From 21" May 2023 Fronl 21 May 2023 PCC Secretary To21"May2023 Note 3 To 17" January 2023 Co-opted Member: Richard Battye Alan Marsh From 14 June 2024 From 18 January 2024 Note 4 The Incumbent, Churchwardens, PCC Vice-chainnan and PCC Treasurer are regarded as the people in key managemeTht positions. Nole l.. Canon Peter Brninvels was PCC Vice-Chairnw] until 31 August 2022, and since then bas been Acting Chainnan. He serves on Gelleral Synod atLd (ex-officio) on Diocesan and Deanery Synods. Note 2.. Nick HaDds-ClaTke also serves on Diocesan Synod. Note 3.. Judy Peace served as an orditkary member until her election as Churchwarden in May 2023. She is also a trustee of the separate William Col¢ Church Music tNst which promotes music in and for St Martins. Note 4.. Alan Marsh did not act a5 a Charity Tntee in the period from 18 January 2024 until he was co-opled again with effect from 14 June 2024. Note 5.. Inslead of a Pixbam Representative. two members of the Pixharn Cotnmittee are invited to attclld PCC meetings, Anne Brown and Peter Shelley. Neither has acted as a Charity Trustee. Note 6.. The PCC is supported by a number of retired clergy with Pemiission to Officiate (PTO) status.. Rev'ds David Cowan, Stuart Peace, Virginia Smith, Barbara Steadman- Allen and David Williams. th Approved by the PCC on 18 July 2024 and signed on its behalf by: Canon P M E 8ruinvels 12
ST. MARTIN'S, DORKING wlth ST. MARY?S, PIXHAM STATEMENT OF FINANCIAL AcfIviTIES for the year ellded 31 December 2023 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PAROCHIAL CHURCH COUNCIL OF ST MARTIN'S, DORKING WITH ST MARY'S CHURCH, PIXHAM I report lo the tnJsteos on my examirtalpjn of the aOUnts of th8 Parochial Church CcMJnc41 of St Martin's. Dorking th Sl MaS Church, Pixham (the'PCC'} for Ihe year ended 31 December 2023. Responslbllltles and basls of report As the charity trustees of the PCC. you are responsible for the preparation of the accounts In ac(x)rdan with the requirements of the Charities Act 2011 ('the Act'l. The Iruslees are sattsfied that an audll Is not required for this year under section 144(2} of the Charities A¢t 2011 (the 2011 Act) and have chosen instead to have an independent examination. I report In respect of my examination of the PCC'S accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commtssion under section 14515llb) of the Act. Indepondent examlneVs statement I have completed my examination. I confimi that no material matters have Come to my attenlM)n in connection with the examination giving me cause lo believe that in any material respect- accounting records were not kept in respect of the PCC as r4uired by section 130 of the Act,. or 2. the accounts do not accord with those records., or 3. the accounts do not comply wth the applicable requirements concerning the fomi and content of accounts set out In the Charities {Accounts and Reports) Regulations 2008 other than any requirement that the accounts glve a 'lrue 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 wtth the examination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Adam Halsey FCA Haysmacinlyre LLP, 10 Queen Street Pla London EC4R 1AG Date: 19 July 2024 13
ST. MARTIN'S, DORKING with ST. MARY'S, PIXHAM STATEMENT OF FIIYANCIAL ACTlVtTIES for the year ended 31 December 2023 Unrestricted Restricted Endowment Fund5 Funds Funds TOTAL 2023 TOTAL 2022 Note INCOME & ENDOWMENTS: Donalions andLegaci Church activities 2(a) 2fb) 2(c) 2(d) 70.820 6,968 5,575 18,773 199 1.925 72,745 6,968 131,278 4,994 31,263 42,365 1 38,171 96 Oiher Irading activities I[ments 230 23,592 Other Total 102335 139590 205 802 EXPENDITURE ON: Church activities 3fa) (101,415) (31,189) 3fb} (7,968) (132,604) (7.968) (138,317) (7.315) Raisingfvnds Oiher Total 147 865 212662 Net income l (expenditure) before investment gains Gains (Losses) on investment assets (7,048) (1,227) (8,275) {6.860) 5(a.b.c) Net tnovement in funds 2.091 (1,227) 51,988 52,852 j 157.741) RECONCILIATION OF FUNDS Total Funds blfwd I" January 121,566 183,621 762,409 1,067,596 1 1.125.337 Total Funds clfwd 31" December 12 814 397 1 120 The notes on pages 20 to 33 forn] part of these financial statements. The statement of fancIal aclivilies includes all gain5 and losses recognised i the year. All income and expenditure derive from continuing activities. The fund analysis foT 2022 is shown in note 10(a). 14
ST. MARTIN'S, DORKING with ST. MARY'S, PIXHAM CONSOLIDATED BALANCE SHEET as at 31 December 2023 TOTAL 2023 TOTAL 2022 Note XED AsstTS Investmeni Property Investrnents 5(a) 380,000 530 492 340,000 509 366 Toralfed assels 910492 849 366 CURRENT ASSETS Debtors and prepayments Investments (short temi) Cash at bank and in hand 5,492 9,504 203 068 4.733 9,208 211823 Total current assets 218,064 225.764 LIABJLITIES Creditors: due in l year Net currént assets les& lirtbilities 209 956 218230 CHARITY FUNDS Unrestricted Funds: 123,657 182,394 121,566 183,621 Restricted Funds Endowment Funds: pcc Other Charity 5(a.b) 5(c) 473,382 341,015 426.097 336,312 The notes on pages 20 to 33 fonn part of these financial statements. The Accounts including the Balance Sheet was approved by the Parochial Church Council on 18 July 2024and signed on its behalf by F6li¢ity Ckeetkam and Judy Peoc 15
ST. MARTIN'S, DORKING with ST. MARY'S, PIXHAM OTHER CHARITY BALAIYCE SHEETS as at 31 December 2023 BALANCE SHEET- GEORGE WHITE CHARITY, 2S8992 TOTAL 2023 TOTAL 2022 XED ASSETS Investments 168 219 170 150 TotalfLYed dssets 168219 170 150 CURRENT ASSETS Debtors and prepayn]ents Cash at bank and in hand 244 143 Total current dssets 73,524 81,838 LBILITIEs Creditors: due in l year Net turrent assets I5 liabilities CHARITY Fup4DS Restricted Funds: Endowments Funds 69.538 168.219 77,852 170,150 The Balance Sheet for the George White CIMrity was approved by the Trustees of the Charity on 18, July 2024 and signed by Felicity Cheethom ond Judy£edce 16
ST. MARTIN'S, DORKtNG with ST. MARY'S, PIXHAM OTHER CHARtTY BALANCE SHEETS As at 31 December 2023 BALANCE SHEET- SPRATLEY TRUST, 205917 TOTAL 2023 TOTAL 2022 XED ASSETS Investments T0¢alfed assels CURRENT ASSETS Cash at bank and in hand 488 763 Tolal current assets 488 763 LIABILITIES CTeditors- due in l year Net eurrént a&set& less liabiliÉies 488 763 CHARtTY FUNDS Restricted Funds: Endowments Funds 488 98,550 763 90,129 The Balance Sheet for the Spratley Trust was approved by the Trustees of the TnLSt on 18 July 2024 and signed by Felicity Ckeethom and Judy P•.nr.•l. 17
ST. MARTIN'S, DORKING with ST. MARY'S, PIXHAM OTHER CHARITY BALANCE SHEETS as at 31 December 2023 BALANCE SHEET- WEST LODGE, 311976 TOTAL 2023 TOTAL 2022 XED ASSETS Investrnents TotalfLred assels CURRENT ASSETS Cash at bank and in hand Total current Sets LIABILITIES Creditors= due in l year Net currenl assets less liabilitie5 CHARTTY FUNDS Restricted Funds: Endowments Funds 74,246 76,033 The Balance Sheet for the West Lodge Charity was approved by Trnstees of the Charity on 18 July 2024 and signed by Felicity Cheetham and Judy Ploce 18
ST. MARTIN'S, DORKING with ST. MARY'S, PIXHAM OTHER CHARITY BALANCE SHEETS as at 31 December 2023 BALANCE SHEET- SUNDAY SCHOOL, 1002099 TOTAL 2023 TOTAL 2022 FtXED ASSETS Investments TotalfLred assets CURRENT ASSETS Investmetkts (short temL) Cash at bank and in hand 67.283 65,194 Total current assels 67,283 65,194 LIABJLITIES Creth'tors: due in l year 450 450 Net eurrent assets less liabililies CHARITY FUNDS Restricted Funds: Endowments Funds 66.833 64,744 The Balance Sheet for the Sunday School Charity was approved by the Trustees of the Charity on 18 July 2024 and signed by Felicity Cheetham and Judy Peace 19
ST. MARTIN'S, DORKING with ST. IWY'S, PIXHAM NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023 I. ACCOUNTING POLICIES l(s) Basis of Financial Statements The PCC is a public benefit entity within the meaning of FRS102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulalions 2006 governing the individual accounts of PCCS, and with the Regulations trne and fair view" provisions. They have been prepared under FRS102 (20I9) as the applicable accounting standards and the 2019 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP(FRS102)). The financial stalements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affilialion to another body, nor those that are infoTmal gatherings of Church members. These financial statements include the financial results and funds of St. Mary's Church, Pixham. St. Mary's is the daughter church of St. Martin's Church, Dorking and the two churches together constitute the Parish of St. Martin's. Unlike St. Martin's Church. St. Mary's Church does not have any separate Endowment Funds. Following the practice started for 2006, these statements consolidate the account5 of other charities under the control of the Vicar and Churchwardens whi¢h support the work of the PCC and its public benefit. Judgements made by the Tntees, in the application of these accounting policies that have significanl effect on the financial slatements and estiTnates with a significant risk of material adjustment in th¢ next year are deemed to be in relation to the valuatiotk of investments and are discussed below. The finaneial statements a presented in UK Pounds Sterling, which is the thnctional currency for the PCC and each of the separate charities, rounded to the nearest pound. l(b) Going Concern The Trustees consider there are no material anticipated uncertainties about the ChaTity's ability to continue as a going concem. The review of our financial position, reserves level and future plans gives Trustees confidence at this time that the charity remains a going concern for the foreseeable future. At the yeaT end the PCC was owed fimds froffl the George White charity related to the financial support for Church Administrator costs. It is expected that this will be paid during 2024. l(c) Fund Accounting Endowmentfvnds aTe funds, the capitsl of which must be retained either pern]anently or at the PCC'S discretion- the income derived fronl the endowment is lo be used either as restricted or unrestricted income ndS depending upon the purpose for which the endowment was established in the first place. Restrictedfvnds comprise (a) income from endowments which is to be expended only on the reslricted purposes intended by ihe donor, and (b) revenue donations or grants for a specific PCC activity intended by the donor. Where these ndS have unspent balances, interest on their pooled investment is apportioned on an average balance basis. Unreslricledfvnds are income fimds which are to be spent on the PCC'S general pury)oses. 20
ST. MARTIN'S. DORKING with ST. MARY'S, PIXHAM NOTES TO THE FtNANCIAL STATEMENTS for the year ended 31 December 2023 l(d) Income Planned giving, collections and similar donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate is received. Grants and legacies are accounted for when the PCC is legally entiiled to use of the resources, their ultimate ree¢ipt is considered probable and the amounts due are reliably quantifiable. Dividend5 are accounted for when declared receivable, interest as and when accrued by the payer. Claims for refunds of VAT under the Listed Places of Worship Scheme are accounted for when the amount of refund is known. All incoming resources are accounted for gross: this includes property income which is received from the letitng agent net of management fees and minor repairs CWTied out through thetn. l(e) Expenditure Grants and donations are accounted for when paid over, or when awarded if thal award creates a binding OT constructive obligation on the PCC. The Diocesan Parlsh Share expected to be paid over is accounted for when due. All other expenditure is generally recognised when it is incurred and is accounted for gross. l{0 Fixed Assets Consecrated and beneficed property is not included in the accounts in accordance with the provisions of s.10(2)(a) and (c) of the Charities Act 2011. The investment property bollt in 2016 to generate income for the PCC has been revalued by the managing estate agent and shown in the accounts at that value. Recent policy has been for individual items with a purchase price of less than £1,500 to be written off in the year in which the expenditure is incurred. Otherwise, the equipment would be depreciated on a 5traight-lÈne basis over 3 to 5 years. l(g) Consolidation of Separate Charities These accounts continue lo consolidate the finances of four separately registered charities under the control of the Vicar and Churchwardens for the benefit St. Martin's. This rst took place in 2006. The four charities are: George White Clergy ExpeT]ses 258992, Endowment Spratley TNst Church and Churchyard Maintenance 205917. Endowment West Lndge Clergy Stipend Costs 311976. Endowment Sunday School Education & Youth 1002099. Restricted Both the George While and the Spratley Trust have unspent investment income: this is included in the accounts as part of Restricted nds. Where appropriate in these accounts, "PCC" refers to charity 1133695. "other charity" or 'o¢her chari¢ies' refers to the four charities listed above in this note, and 'Group" refers to all rive charities together. 21
ST. MARTIN'S, DORKING with ST. MARY'S, PIXHAM NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023 l(h) Investments Quoted investments are included in the financial statements at market value at the balance sheel date. Where "bid" values have been provided these have been used rather than "mid-market" ones as this is the basis for the value that would be received if the investment were sold. Realised and unrealised gains and losses on revaluation and disposals occurring in the year are reported in the statement of financial activities. l(1) Financi41 instruments Basic financial instruments are initially recognised al transaction value and subsequently measured at amortlsed with the exception of investments which are held at fair value. Finallcial assets held at amonised cosl comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts foT which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instanl access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except social security and other iaxes and provisions. l(i) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discowit offered. Prepayments are valued at the amount prepaid net of atLy trade discounts due. l(k) Cash at bank and in hand Cash at bank and cash in hand includes cash and short tern) highly liquid inveslments. l(l) Cr¢ditor5 and provisions Creditors and provisions are recognised where the ¢harity has a present obligation resulting from a past event that will probably resuli in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Credilors and prov15ions are nornially recognised at their settlement amount after allowing for any trade discounts due. l(m) Estimates and Judgements Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circutnstances. Alihough these estirnates are based on the tEUStee's best knowledge of the amount, events or actions, actual results ultimately differ froni these estin]ates. The Trustees do not consider ther¢ to be any material estimates and judgements. 22
ST. MARTIN'S. DORklNG Ivith ST. MARY'S, PIXHAM NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023 Endow- ment Funds 2. INCOME & ENDOWMENTS Unrestrictcd Reslrictcd Funds Funds TOTAL 2023 TOTAL 2022 2(a) Donalion& and Legacies Planned giving.. Donations Tax recoverable Collections {open plate) Charity specific collecttons Donations etc Friends of St Martin's Mole Valley Legacies 43,766 11,832 4,977 698 6,247 240 496 206 44,006 12,328 5,183 6981 46.035 11,556 3,456 734 3,807 63.390 2,300 233 750 750 3,100 i 3,100 200 131278 2(b) lrtcomefrom church ac¢ivi¢ies Church Magazine PCC fees for weddings etc Other aclivities 2,813 4,005 150 2,813 2,805 2,149 40 150 2(c) Other trading activities Events Hire of St. Martin's Hire of Pixharn 55 3.205 230 285 3,205 892 3,965 230 2(d) Incomefrom irtveslmertls Unrestricted fund - General Unrestricted fund- Lcgacy Unrestricted fund- Property Restricted llds (Note 8) PCC Endowments (Note 9) Other Charities (Notes 8,9) 3.465 33 15,275 3,465 33 15,275 248 2,297 3,207 15,000 70 2,285 248 2,297 2{e) Other HMRC Covid l JRS Grant VAT Grant. LPOW 96 199 199 96 Total ineome: 102,335 37,255 139,590 205,802 Total expenditure (see nole 3).. 109,383 38,482 147,865 212,662 Incomé less cy)endiÉure (7,048) (1,227) (8,275) (6,860) 23
ST. MARTIN'S, DORNG Ivith ST. MARY'S, PIXHAM NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023 Endow- ment Funds 3. EXPENDITURE Unrestrictcd Reslrictcd Funds Funds TOTAL 2023 TOTAL 2022 3(a) Church activities Missionary & chaTitable: Home Missions & Other Ministry.. Parish Share VicaTage & Parsonage ExpeT]5es & Visiting Church running expenses Church(yard) maintenance Choir, Organists & Music Sanctuary OutreachlWorshipNouth SUB-TOTAL OtTice costs & Administrator Governance 983 43.071 746 120 18,226 4,351 10,353 418 425 983 j 67,824 1 746 1,242 18,226 732 73,134 562 200 17,955 14,154 10,657 288 619 24.753 1,122 5,314 10,353 418 425 78,693 20,822 31,189 109,882 20,822 118,301 18,756 101415 138 317 3(b) Fund raising costs Church Magazine Property expenses 2,420 2,420 2,419 3(c) Other Fabric Developm¢nts Rend to Friends of funding 4,921 4.921 67,030 Total expenditure 109,383 38,482 147,86S 212,662 24
ST. MARTIN'S, DORKING with ST. MARY'S, PIXHAM NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 Deeember 2023 4(a) STAFF COSTS TOTAL TOTAL 2023 2022 Wages and Salaries National insurance contributions 22,053 21,680 Pension costs 451 440 During the year St. Martin's employed a Church Administrators and a Director of Music, both working part time. St. Mary's was supported part time by a pianist and a cleaner, for which honoraria were paid. Together these appointments equate to less than one thll time employee. Neither of these people earned £20,000 per annum or more. The Geoige White Trust contributed £nil towards administration costs (2022- £2,678). 2022 a claim of £96 was paid in respect of Covid related SSP. No employer national insurance ha5 been paid as th¢ total liability is within the £5,000 Employment Allowance per lax year. A defined contribution pension scheme with Nest has been setup to meet obligalions under Aulo Enrolment. AccTued but not-taken holiday entitlement at the end of 2023 amounted to four days (2022 four days): being insignificanl no adjustments for this have been made in the accounts. An Incumbent, the Churchwardens, the PCC Vice-chairynan and the PCC Treasurer are regarded as the people in key Jnanagement positions. Incumbents are paid by the national church at a salary set and reviewed annually by the Diocese of Guildford. The Churchwardens, PCC Vice-chairman and PCC Treasurer are unpaid volunteers. Accordingly, the total remuneration paid to the personnel is nil (2022- nil). Many people volunteer their services to support the work of the church. It is impractical to give a figure for the effort involved, but it is likely to be the equivalent of several full-time posts. 4(b) PAYMEiYfs TO TRUSTEES AND RELATED PARTIES A small immaterial portion of the expenses paid to an Incumbent may relate to services as ChaiTman of the PCC. Similarly, a small immaterial portion of expenses paid to Clergy tnay relate to services as a member of the PCC. No other payments or expenses were paid to any other PCC member regarded as a Trustee. persons closely connected to them or relaled persons (2022.. nil). An unquantifiable amount of expenses may be unclaimed being regarded as a donation to the work of the church. It is felt that the value of these is not significant. 25
ST. MARTIN'S, DORKING with ST. MARY'S, PIXHAM NOTES TO THE FINANCIAL STATEMEIYTS for the year ended 31 December 2023 5. FIXED ASSETS 2023 Pro Invesiment From a 2014 bequest.. Flat at 64 Hill View, Dorking bought in 2016 for £340.000 Book value I si January 2023 Unrealised gain5 (losses) in Market Value Book value 3 1st December 2023 Unrestricted Restricted Endowment Funds Funds Funds 340,000 See also notes 9(a) and I l(a). Investment Assels Nole 9a Unrestricted Restricted Endowment Funds Funds Funds Invesled with the Central Board ofFinance.' No. of Shares Cosi Curate/Clergy Funds Mrs Lloyd Bequesl Turyill Bequest Fabric Fund 2.152 116 1,032 418 48,647 2,622 23,328 9,449 62 1.106 1 37 | V&CW General 4,664 105431 Market Value I" January 2023 Unrealised gains (losses) in Market Value Market value 31" December 2023 96,292 76,761 Other Chori Investmen¢s.' Nole 9b Unrestricted Reslricted Endowment Funds Funds Funds Irtvested with CCL4 or M&G Charifvnd.. No. of Units/ Shares 5,934 715 10,228 Cost George White, CCLA George White, CCLA George White, M&G Tolal 7,259 14,189 146 771 168,219 98,550 Spratley, CCLA West Lodge, M&G 4,966 5,174 4,713 | unknoitrw I 41 Market Value I. January 2023 Net unrealised gains (losses) in Market Value Market value 31 December 2023 336.312 26
ST. MARTIN'S, DORKtNG with ST. MARY'S, PIXHAM I¥JOTES TO THE FINANCIAL STATEMENTS for the year ended 31 Decetnber 2023 6. ANALYSIS OF LIABILITIES, DEBTORS AND PREPAYMEiYrs Group pcc 2023 2022 2023 2022 Debtors alld prepayments: Unrestricted ndS Restricted funds, PCC Re5trieted fi]nds, from other charilies Total 5,162 330 4,575 158 5,162 75 4,575 15 Liabilities-. Unrestricted funds 3,580 7,534 3,580 7.534 Restricted funds, PCC Total See note l (g) for an explanation of the tenns Group. PCC, and Other Charities. 7. UNRESTRICTED FUNDS OF THE PCC BIFwd Jan 1st Transfers Out Gain51 CIFwd 31s Funds 2023 Income nditllre St. Martin St. Mary 77,560 93.540 (98,911) 9,139 81,328 109383 123 657 B/Fwd Jan I, Transfers Out Gainsl Ios5e5 Cwd Dec31# Funds 2022 Income enditure St. Marttn Si. Mary 121,308 87,505 (118,470) 33 000 (12,783) 77,560 121566 Net general fund expenditure for 2023 before investfflent gains110sses was St Martin £5.371 {2022.' £30,965). St Mary £1,677 (2022: £18,575 sUlUs) Note: The other charities only hold restrtcted funds. 27
ST. MARTIIY'S, DORKtNG with ST. MARY'S, PIXHAM NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023 8. RESTRICTED FUNDS 2023 BIFwd Investtnent Jan Isi Other Income Transfers Out OFwd Dec31 endit Si. Mortin's - Siruclure/Repair Funds.. Development Fabric Redecoration Stonework 227 19,602 831 693 io 237 22,654 869 693 12,458 (9,406) 38 Sub-totals.. Fabric (#]).' Si. Martin's - Other Restricted.. Cooper (Choir Courses) Kneeler Organ Vestment Youth 384 18 402 158 3.819 465 165 3,994 465 175 Sub-totals.. Other (#2).' 200 St. Marlin s stsmmary.. Restricted- Fabric (#]) Restricted- Other (#2) Endowment- Curate Endowment- Lloyd Endowment- Turvill Endowment- Fabri 21.353 4,833 48 200 1.330 72 638 257 12,458 {9.406} 24,453 5,033 (1,330) 396 3,525 468 4,163 257 Sub-total (#3): 993 Separale Charities.. George While, 258992 Spratley Trust, 205917 West Lodge, 311976 Sub-total (#4): 77,852 706 11,809 2,725 (20,122) (2.943) 69.539 488 Overall Totals: Si Martin's Sub-totals (#3) Charilies Sub-totals (#4) Sunday School, 1002099 St. Martin's Total 30.107 78,558 2,545 18,958 12,458 (10,993) (27.489) 34,117 70,027 173,409 23.592 12,458 (38,482) 170,977 St. Mary's Fabric Total Restricted Funds Note: Total restricted income including that from inveslmenls.. £23,592 + £13,663 - (a) Please see Note 9 regarding the treatment of income from Endowtnent Funds. (b) The Sunday S¢hool Fund is for Education and Youth purposes. (c) The figures for 2022 are given in note 10(b}. 28
ST. MARTIN'S, DORKING iyith ST. MARY'S, PIXHAM NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023 9. ENDOWMENT FUNDS 2023 The figures for 2022 are given in note 10(c). PCCEndowmenÉ Funds." B/Fwd Jan 1st Net Income Market Value CIFwd ! knveslment enditure Ad'ustment Dec 3 1st Income Curate Funds: Curate Funds Mrs Lloyd's Bequest Turvill Bequest Sub-Total £H,430 2.395 4.217 227 1,330 72 638 2,040 257 2,622 | 68,131 8,630 349 336 6,466 819 74,597 9.449 389 336 | Fabric Fund Legacy Fund (Note Ila) The Curate and Fabrlc Funds derlve from legacies, the capitsl of which is required to be maintained intact. The income derived from the endowed capital is restricted, being only avlable for spending on ihe purpose(s) specified in the originating Will or Tmst Deed. The investment income from these funds was paid direct to the PCC, and is included in the Statement of Financial Activities as Restricted Funds (see note 2d). It is available (and is so used) to help pay parish share, meet clergy expenses. or contribute towards Fabric upkeep as appropriate. The only movement on these Endowment Funds during the year was the urErealised gain on these tnvestments of £7,285. The Legacy Endowment Fund is an expendable endowment where initial costs of sale or purchase and any deposit interest have been included within the fund. Other Chari Endowments.. The Church is also the beneficiary of certain other TTUSts, being separately registered Charilies. The investment income is regarded as "Restricted Funds" in the same way as ihe PCC Endowments. B/Fwd Market Value ewd Investment Jan 1st Ad"ustment Dec 31st Income George White, 258992, Clergy Expenses SpTatley Tmst, 205917, Church & Churchyard Maint West LK)dge. 311976, Defray Clergy Costs 170,150 (1,931) 168,219 11,809 90,129 8,421 98,550 2,725 341015 Note 2(d), Other charity income total, also includes Sunday School investment income of £2.089. Totals o thé above." Blfwd Jan 1st tncome Market Value CIFwd .: Investment enditure Ad"ustment Dec 31 st Income PCC Endowments Other Endowments 426,097 336312 47,285 473,382 4 703 341015 2,297 29
ST. MARTIN'S, DORKING wilh ST. MARY'S, PIXHAM NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023 10. PRIOR YEAR DETAILS SOFA 2022 Statement of Financial Activities for the year ended 31, December 2022 Unrestricted Restiicted EDdowment Fwids Funds Funds TOTAL 2022 Notc INCOME & ENDOlTrTrtENTS: DonaliopLS andLegacies Church activities 66,828 4,994 30,371 18,216 96 64,450 131,278 4,994 31,263 38,171 96 2(b) Other trading activitles Inveslmenfs 892 2(d) 19.955 Other Total 120 505 205 802 EXPENDITURE ON: Church aclivili 3(a) (125,580) (12.737) 3(b) (7,315) (138,317) (7,315) Raisingfvn Other Total 132 895 212 662 Net income l {expenditure) before investment gains Gains on investment assets (12,390) 5,530 (6,860) Net movement in funds (25.173) 5.530 (38,098) (57,741) RECONCILIATION OF FUNDS Total Funds blfwd I, JaDuary 146,739 178,091 800,507 1.125.337 Total Funds clfwd 31" Deceniber 30
ST. MARTIN'S, DORKING wlth ST. MARY'S, PIXHAM IYOTES TO THE FINANCIAL STATELENTs for the year ended 31 Decetnber 2023 RESTRICTED FUNDS 2022 St. Martin s - Structure/Repair Funds.. Development Fabric Redecoration Stonework BIFwd InY¢stment Income Other Tran5fer5 In Out CIFwd Dec31st 224 24,660 820 693 227 19,602 831 693 63,390 (68,448) Sub-totals.. Fabric (#]).' St. Martin s- Other Restricted.. Cooper (Choir Courses) Kneeler Organ Vestment Youth 379 384 156 3.770 465 158 3,819 465 49 Sub-totals.. Other(#2).' 56 St. Marlin's summary.. Restricted- Fabric (#]) Restricted- Other (#2) Endowment- Curate Elldowment- Lloyd Endowment- Turvill Endowment- Fabric 26.397 4,777 14 56 1.322 71 635 257 63,390 (68.448) 21,353 4,833 {1,322) 325 2,890 396 3,525 257 Sub-totals (#3)'. 355 Separate Charities.. George While, 258992 Spratley Trust, 205917 West tA)dge. 311976 Sub-totals {#4): 70.967 577 9,763 2,697 (2,878) (2.568) 77,852 706 St Martin's Sub-totals (#3) Charities Sub-totals (#4) Sunday School. 1002099 St. Martln's Total 34,389 71,544 2,355 16,754 846 63,390 (70,027) (9.740} 30,107 78,558 169.831 19,955 63,390 (79,767) 173,409 St. Mary's Fabric Total Restricted Funds Note: Total restricted income including that from investments- £19,955 + £65.342 - (a) Please see Note l O(c) regarding the treatment of income from Endowment Funds. (b) The Sunday School Fund is for Education and Youth purposes. 31
ST. MARTIN'S, DORKING with ST. MARY'S, PIXHAM NOTES TO THE FIIYANCIAL STATEMENTS for the year ended 31 December 2023 EIVDOWMENT FUNDS 2022 PCCEndowmen15 2022.. BIFwd Jan 1st Net Income Market Value CIFwd Investment enditure Ad'ustment De¢ 3 1st Income Curate Funds.. Curate Funds Mrs Lloyd's Bequest Turvill Bequest Sub-Tolal 50.328 2,713 (5,898) (318) 44,430 2,395 1.322 71 635 2.028 257 77,176 9,776 349 336 (9,045) (1,146) 68.131 8,630 349 336 Fabric Fund Legacy Fund (Note Ila) The Curate and Fabric Funds derive from legacies, the capital of which is required to be mainlained intact. The income derived from the endowed capital is reslricted, being only available for spending on the purpose(s) specified in the originating Will or Trust Deed. The investment income from these futLds was paid direct to the PCC, and is included in the Statement of Financial Activities as Restricted Funds. It is available (and is so used) to help pay parish share. meet clergy expenses, or contribute towards Fabric upkeep as appropriate. The only movement OTh these Endowment Funds during the year was the unrealised loss on these investments of £10,191. The Legacy Endowment Fund is an expendable endowment where initial costs of sale or purchase and any deposit interest have been included within the fimd. Other Chari Endowmeni 2022.. Tbe Church is also the beneficiary of certain other Trusts, being separately registered Charities. The investment income is regarded as"Restricted Funds" in the same way as the PCC Endowments. B/Fwd Market Value CIFwd .' Investment Jan 1st Ad'ustment Dec31st I Income George White, 258992, Clergy Expenses Spratley Trust, 205917, Church & Churchyard Maint West Lodge, 311976, Defray Clergy Costs 181,716 (11.566) 170.150 9.763 101,985 (11,856) 90,129 2,697 76033 1 336312 Totals o ¢he above 2022.. B/Fwd Jan 1st Income Market Value C/Fwd i Investment enditure Ad-ustment Dec 31 st Income PCC Endowments Other Endowments 436,288 (10,191) 426,097 j J 336312,, 2,285 800 32
ST. MARTIN'S, DORKING with ST. MARYYS, PIXHAM NOTES TO THE FINANCIAL STATEMENTS for Ihe year ended 31 December 2023 I I. OTHER DISCLOSURES I l(a) Legacy Endowment Fund The proceeds from the sale of the property bequeathed to the PCC (see the accounts for 2014) were used to purchase a buy-to-let flat in Dorking. Some of the residue was used to meet the costs of purchase and initial running costs. The balance is retained at ycar end and is available to meet fijrther property maintenance costs. Letting income and nom]al letting expenditure is accounted for gross within the general fund. The property has been revalued to the end of 2023 by ihe managing estste agent. 11(b) Donations and ex-gratia payments During the period ofoffice of the PCC members regarded as charity tnlees, they or their close family members made donations for general purposes totalling £14,037 during 2023 (2022.. £11,230) and a further £nil in respect of spectfic collections (2022 nil). This includes standing order and identifiable envelope giving bul not anon)Inous open plate donations nor associated Gift Aid claim proceeds. Donations niade in the calendar month of starting or leaving ol¢e as truslee are included in the total. No donations were made with conditions attached wkn'ch require the charffity to alter its existing activities. No ex-gratia paynients have been llde (2022: nil). No tennination or redundancy payments have been made (2022- nil). I l(c) Local Authority Grants received The PCC receives an annual grant awarded for a three-year period in respe¢t of the closed churchyard. This amounted to £3,100 in 2023 (2022.. £3,100). I l(d) Other Grant Income The Friends of Si Martin's Church Dorking (Regislered Charity 283966) provided funds totalling £750 to fund the initial design stage of a memorial to the late Queen Elizabeth II. In 2022 they provided funds amounting to £63,390 for the lighting replacement project. With the rinal btlls now knoHm and a successfill application for a VAT grant under the Listed Places of Worship scheme, a r¢fiJnd of £2,372 is due in 2024 and has been included in these accounts. The PCC received a donation from the Diocese of Guildford in connection with utility costs and is included within the amounts donated during 2023. I l(e) Grant eipenditure The PCC often gives a grani from restricted Education and Youth funds to the St Martin's School Dorking Trust to contribute a proportion of the costs of a residential trip for pupil(s). This enabled theni to take part. No contribution was requested in 2023 (2022.. nil)- None of the pupils $0 sUPPOrted have been Telated to PCC members. OoOoOoO 33