2023-12-31-accounts

St Mary’s Church, Sunbury-on-Thames

Annual Financial Report 2023

Annual Financial Report of the Parochial Church Council of the Ecclesiastical Parish of St Mary’s, Sunbury-on-Thames for the Year Ending 31 December 2023

Registered Charity No 1133834

St Mary’s Parish Office Parish Hall Green Street Sunbury-on-Thames TW16 6RN

St Mary’s Church, Sunbury-on-Thames

Annual Financial Report 2023

Contents

	Contents	Contents
1	Annual Financial Report for 2023 ............................................................................ 1-1
	1.1	Introduction ...................................................................................................................................... 1-1
	1.2	Accounting Policies ......................................................................................................................... 1-1
	1.2.1	Funds .......................................................................................................................................... 1-1
	1.2.2	Income ........................................................................................................................................ 1-2
	1.2.3	Expenditure ................................................................................................................................. 1-2
	1.2.4	Fixed Assets ............................................................................................................................... 1-2
	1.2.5	Investments ................................................................................................................................. 1-2
	1.3	Financial Information ....................................................................................................................... 1-3
	1.3.1	Summary of Financial Receipts and Payments .......................................................................... 1-3
	1.3.2	Statement of Assets and Liabilities ............................................................................................. 1-4
	1.3.3	Summary of Funds ...................................................................................................................... 1-5
	1.4	Notes to the Financial Report .......................................................................................................... 1-6
	1.5	Financial Report Approval ............................................................................................................... 1-9
2	Independent Examiner’s Report .............................................................................. 2-1
	2.1	Introduction ...................................................................................................................................... 2-1
	2.2	Respective Responsibilities of Trustees and Examiner .................................................................. 2-1
	2.3	Basis of Independent Examiner’s Statement .................................................................................. 2-1
	2.4	Independent Examiner's Statement ................................................................................................ 2-1

St Mary’s Church, Sunbury-on-Thames

Annual Financial Report 2023

Section 1 Annual Financial Report for 2023

1.1 Introduction

This Annual Financial Report for 2023 has been prepared for the Trustees of the Parochial Church Council (PCC) of the Ecclesiastical Parish of St Mary’s, Sunbury-on-Thames, a charity registered with the Charity Commission under reference 1133834, covers the accounting period from 1 January 2023 to 31 December 2023.

The financial statements have been prepared in accordance with the Charities Act 2011 and Church Accounting Regulations 2006 together with applicable standards and the Charities Statement of Recommended Practice (SORP) except where detailed below.

As the gross income of the charity from all sources is less than £250,000, the financial statements have been prepared under the receipts and payments convention except for the valuation of investment assets which are shown at market value.

1.2 Accounting Policies

1.2.1 Funds

The funds for which the PCC is responsible are held in bank accounts with Barclays Bank plc and are listed in Table 1-1.

TABLE 1 – 1 FUNDS

TABLE 1 – 1 FUNDS
	Nature of Bank Accounts
Unrestricted Funds St Mary’s Church St Mary’s Parish Hall Restricted Funds Africa Fund St Mary’s Church Restoration Fund St Mary’s Parish Hall Restoration Fund	Current account Current account Deposit account Deposit account Deposit account

This Report includes all transactions, assets and liabilities for these funds which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of Church members.

The two affiliated funds listed in Table 1-2 are separate charities registered with the Charity Commission. They prepare separate annual financial reports and their income, expenditure and investment valuations are not included here.

TABLE 1 – 2 AFFILIATED FUNDS	TABLE 1 – 2 AFFILIATED FUNDS
Fund Name	Charity Number
St Mary’s Endowment Fund The Vigne-Bremner Almshouses	1069355 213816

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St Mary’s Church, Sunbury-on-Thames

Annual Financial Report 2023

1.2.2 Income

• Cash collections are recognised when received by or on behalf of the PCC.

• Planned giving receivable under covenant or GiftAid is recognised when received.

• Income tax recoverable on covenants or GiftAid donations is recognised when received from HMRC. This policy is contrary to recommended accounting practice but has been adopted as it is considered a practical approach and unlikely to result in a material difference from recognising the tax credit when the income is recognised.

• Grants and legacies to the PCC are accounted for as soon as the PCC has been notified of its legal entitlement, the amount due and that title has been vested in the PCC.

• Funds raised by the various fairs and events are accounted for net, contrary to recommended accounting practice as insufficient records were maintained at the time of the events to facilitate recording gross takings. It is not considered that this approach is likely to lead to a material mis-statement of total income or expenses in the accounts.

• Rental income from the Parish Hall is recognised when received. Amounts outstanding at 31 December 2023 are not considered to be material.

• Dividends and interest receivable and corresponding tax credits are recognised when received.

1.2.3 Expenditure

• All payments are made by standing order, direct debit or bank transfer and are recognised when debited to the relevant bank account. No payments are made by cash.

• All payments are supported by appropriate bank mandates or invoices. In the case of charitable donations where there is no invoice, these are agreed by the PCC or Standing Committee prior to payment.

• All exceptional payments are agreed by the PCC or Standing Committee prior to payment.

1.2.4 Fixed Assets

• Consecrated and beneficed property is excluded from the accounts by s.96(2)(a) of the Charities Act 2011.

• • No value is placed on moveable church furnishings held by the churchwardens on special trust for the PCC and which require a Diocesan Faculty for disposal since the PCC consider this to be inalienable property.

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

• The Parish Hall is classed as an asset and its value is shown as its re-building cost as recorded in the insurance policy held with Ecclesiastical Insurance.

1.2.5 Investments

Investments are valued at market value at 31 December 2023.

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St Mary’s Church, Sunbury-on-Thames

Annual Financial Report 2023

1.3 Financial Information

1.3.1 Summary of Financial Receipts and Payments

The summary of our receipts and payments (R&P) during the year is summarised in Table 1-3.

TABLE 1 - 3 SUMMARY RECEIPTS & PAYMENTS

	Unrestricted Funds	Unrestricted Funds	Restricted Funds	Total All Funds	Total All Funds	Notes
	Church £	Parish Hall £	£	2023 £	2022 £
Income: Income from donors Events & other income Income from trading activities Income from investments	107,312 25,100 11,175 72	0 300 42,773 -	547 - - -	107,860 25,400 53,948 72	103,064 26,010 49,427 87	1 2 A&L
Total income:	143,660	43,073	547	187,280	178,588
Expenditure: Charitable giving Church work Fund raising & publicity Church administration	3,758 131,586 3,146 38,435	- 13,335 - 5,663	- - - -	3,758 144,921 3,146 44,097	1,412 134,537 2,115 36,060
Total Expenditure:	176,924	18,998	-	195,923	174,125
Reconciliation of Funds: Net income (expenditure): Transfers between funds	(33,265) 30,085	24,075 (30,500)	547 -	(8,642) (415)	4,463 _- _
Net Movement in Funds;	(3,179)	(6,425)	547	(9,057)	4,463
Bank accounts at 1 Jan 2023:	3,768	8,389	15,941	3,768	24,606
Bank accounts at 31 Dec 2023:	588	1,964	16,489	19,041	28,098

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St Mary’s Church, Sunbury-on-Thames

Annual Financial Report 2023

1.3.2 Statement of Assets and Liabilities

The statement of our assets and liabilities (A&L) at the year-end is shown in Table 1-4.

TABLE 1 – 4 ASSETS & LIABILITIES

	Unrestricted Funds	Unrestricted Funds	Restricted Funds £	Total All Funds 2023 £	Total All Funds 2022 £	Notes
	Church £	Parish Hall £
Bank Accounts: Bank Current Accounts Bank Deposit Accounts	588	1,964	- 16,489	2,552 16,489	12,157 15,941	R&P 3 4 5 5
Total Bank Accounts:	588	1,964	16,489	19,041	28,098
Debtors: Almshouses Repayment of Loan Gift Aid recoverable (est)	1,300 3,000	- -	- -	1,300 3,000	1,333 12,000
Total Debtors:	4,300	-	-	4,300	13,333
Investments: COIF (Wm Pembroke Charity) COIF (Sunbury School or Parish Stock)	1,508 1,131	- -		1,508 1,131	1,381 1,036
Total Investments:	2,639	-		2,639	2,417
Buildings: Parish Hall	-	1,136,485	-	1,136,485	1,102,309
Total Buildings:		1,136,485		1,136,485	1,102,309
TOTAL ASSETS:	7,527	1,138,449	16,489	1,162,465	1,146,157
Liabilities: Diocese Statutory Fees (Q4 2023) Sundry creditors	1,572 800	200	-	1,572 1,000	1,500
TOTAL LIABILITIES:	2,372	200	-	2,572	1,500

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St Mary’s Church, Sunbury-on-Thames

Annual Financial Report 2023

1.3.3 Summary of Funds

Fund income and expenditure and final balances are shown in Table 1-5.

TABLE 1 – 5 SUMMARY OF FUNDS

	Balances at 1 Jan 2023 £	Income £	Expenditure £	Transfers, other gains and losses £	Balances at 31 Dec 2023 £
Unrestricted Funds: Church General Fund Parish Hall General Fund	3,768 8,389	143,660 43,073	176,924 18,998	30,085 (30,500)	588 1,964
Total Unrestricted Funds:	12,157	186,733	195,923	(415)	2,552
Restricted Funds: Africa Fund St Mary’s Church Restoration Fund St Mary’s Parish Hall Restoration Fund	537 8,974 6,430	210 251 86	- - -	- - -	748 9,225 6,516
Total Restricted Funds:	15,941	547	-	-	16,489
TOTAL FUNDS:	28,098	187,280	195,923	(415)	19,041

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St Mary’s Church, Sunbury-on-Thames

Annual Financial Report 2023

1.4 Notes to the Financial Report

1. An analysis of the total income is shown in Table 1-6.

TABLE 1 - 6 ANALYSIS OF INCOME

	Unrestricted	Unrestricted	Restricted Funds	Total All Funds	Total All Funds	Notes
	Church £	Parish Hall £	£	2023 £	2022 £
Donors: Planned giving On-line giving Cash collections Other donations & legacies Gift Aid recovered	40,131 33,726 12,873 250 20,331					6, 11
		0	204	40,335	49,089
		0	0	33,726	16,847
		0	0	12,873	8.846
		0	207	457	10,250
		0	0	20,331	18,031
Total Income from Donors:	107,312	0	411	107,723	103,064
Events & Other Income: Fairs & sales Events Bank interest Grants Other income Designated funds	224 1,293 880 0 1,415 22,450
		0	0	224	448
		0	0	1,293	3,217
		0	137	1,017	77
		0	0	0	2,641
		300	0	1,715	11,438
		0	0	21,288	8,188
Total Events & Other Income:	26,262	300	137	25,537	26,010
Trading Activities: PCC wedding & funeral fees Church hire Parish Hall hire	10,013 0 0
		0	0	11,175	7,678
		0	0	0	300
		42,773	0	42,773	44,570
Total Trading Activities Income:	10,013	42,773	0	53,948	49, 427
Income from Investments: Dividends & interest	72
		0	0	72	87
Total Investment Income:	72	0	0	72	87
TOTAL INCOME:	143,660	43,073	547	187,280	178,588

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St Mary’s Church, Sunbury-on-Thames

Annual Financial Report 2023

2. An analysis of the total expenditure is shown in Table 1-7.

TABLE 1 – 7 ANALYSIS OF EXPENDITURE

	Unrestricted	Unrestricted	Restricted	Total	Total	Notes
	Church £	Parish Hall	Funds	All Funds 2023	All Funds 2022
		£	£	£	£
Charitable Giving: Charitable Giving	3,758					7 8 9 10 10 10 11 3
		-	-	3,758	1,412
Total Charitable Giving:	3,758	-	-	3,758	1,412
Church Work: Diocesan Common Fund Diocesan Statutory Fees Assistant Priests' Fees Organist Fees Ministry / Mission Expenses Utility Supplies Insurance Repairs & Maintenance Supplies & Services Retreat Expenses	82,500 2,856 5,068 8,200 5,674 7,573 5,126 2,710 5,469 6,411
		-	-	82,500	82,000
		-	-	2,856	6,680
		-	-	5,068	5,946
		-	-	8,200	7,810
		-	-	5,674	6,726
		7,460	-	15,033	11,182
		1,603	-	6,728	4,304
		1,972	-	4,682	9,392
		2,301	-	7,769	6,219
		-	-	6,411	6,254
Total Church Work:	131,586	13,335	-	144,921	146,513
Fund Raising & Publicity: Cost of Fetes & Bazaars Advertising SMCF Expenses	1,611 1,535 -
		-		1,611	1,135
		-		1,535	980
		-	-	0	-
Total Fund Raising & Publicity:	3,146	0	-	3,146	2,115
Church Administration Staff Salaries Stewardship Expenses General Office Costs Print, Post & Stationery Bank Charges Equipment Independent Examination Almshouses Temporary Loan Other Expenses	10,098 0 0 1,991 1,390 21,783 600 1,300 1,272
		5,515	-	15,613	15,966
		-	-	0	269
		-	-	0	1,595
		-	-	1,991	2,404
		-	-	1,390	618
		147	-	21,931	2,963
		-	-	-
		-	-	-
		-	-	-	268
Total Church Administration:	38,435	5,663	17,373	44,097	36,060
TOTAL EXPENDITURE:	176,924	18,998	17,373	195,923	174,125

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St Mary’s Church, Sunbury-on-Thames

Annual Financial Report 2023

1. By agreement of the PCC, a temporary loan of £1,300 was made to The Vigne-Bremner Almshouses Charity (Charity Number 213816), an affiliated fund, to cover the period while their banking arrangements had to be changed. This is shown in the analysis of Expenditure, Table 1-7. A cheque for the refund of this sum was received at the end of December 2023, but was not credited to the Church account until January 2024 and is shown as a debtor in the Assets and Liabilities, Table 1-4.

2. The last Gift Aid claim covered donations made during the 6 month period 1 April to 30 September 2023 and a new submission will be made covering the period 1 October 2022 to 31 March 2024. It is estimated that a claim for approximately £6,000 will be made of which approximately £3,000 would be attributable to the period covered by this report.

3. The PCC has the investments listed in Table 1-8 held in Trust on its behalf by the London Diocese Fund. The income is received by the PCC.

TABLE 1 – 8 INVESTMENTS

TABLE 1 – 8 INVESTMENTS
	Market Value 31 Dec 2023 £	Market Value 31 Dec 2022 £
76 shares COIF Charities Investment Fund (Wm Pembroke Charity) 57 Shares COIF Charities Investment Fund (Sunbury School or Parish Stock)	1,508 1,131	1,381 1,036
TOTALS	2,639	2,417

1. Designated income includes a donation of £10,000 towards the purchase of a new piano for the Church.

2. The recipients of charitable giving during the year are shown in Table 1-9.

TABLE 1 – 9 CHARITABLE GIVING

TABLE 1 – 9 CHARITABLE GIVING	TABLE 1 – 9 CHARITABLE GIVING
		2023 (£)	2022 (£)
Parish Collections:	Children’s Society Crisis at Christmas Shelter St Saviour’s Food Bank (Sunbury) DEC Turkey Earthquake Appeal	11 500 500 300	662 500
Parish Donations:	Royal School of Church Music Toilet Twinning Macmillan St Saviour’s Food Bank (Sunbury) Local Family Other donations	127 1,200 900 220	110 31 140 -
	TOTALS	3,758	1,443

1. The Diocesan Common Fund is the parish’s contribution to the Diocese of London and represents 100% of the contribution agreed with the Diocese.

2. The Diocesan Statutory Fees relate to the fees due to the Diocese for weddings and funerals held in the parish.

3. Remuneration of staff working on behalf of the PCC is listed in Table 1-10.

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St Mary’s Church, Sunbury-on-Thames

Annual Financial Report 2023

TABLE 1 – 10 STAFF COSTS

	BLE 1 – 10 AFF COSTS	BLE 1 – 10 AFF COSTS
	2023 (£)	2022 (£)
Parish Administrator (1) Parish Administrator (2) Assistant Priests Organist Church & Parish Hall Cleaner (1) Church & Parish Hall Cleaner (2)	8,514 1,584 5,068 8,200 3,255 2,260	10,836 5,946 7,810 5,130
TOTALS	28,881	29,722

Both the Parish Administrator and the Church & Parish Hall Cleaner changed during the year. The remuneration of the individuals is shown separately.

The Assistant Priests, Rev S Douglas Lane and Canon R Morrison received payments for their regular support to the Vicar in running services and supporting parish activities. Rev S Douglas Lane also officiated at a number of weddings and funerals for which he received payment in accordance with the Diocesan scale of fees.

Payments totalling £6,174 were made to The Rev. A Downes (PCC Chairman) as a contribution to the running costs of the vicarage, travel and other expenses directly associated with the Church and its mission.

1. The PCC agreed to the purchase of a new piano for the Church at a total cost of £21,530. This was partially funded by a donation of £10,000 (see Note 6).

1.5 Financial Report Approval

This Financial Report for the year ended 31st December 2023, including the notes, was approved by the PCC and signed on its behalf by The Rev. Andrew Downes, PCC Chairman:

Signed:

Date: 21 March 2024

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St Mary’s Church, Sunbury-on-Thames

Annual Financial Report 2023

Section 2

Independent Examiner’s Report

2.1 Introduction

This report on the accounts of the Parochial Church Council (PCC) of the Ecclesiastical Parish of St Mary’s, Sunbury-on-Thames for the year ended 31 December 2023, which are set out on pages 1-1 to 1-9, is in respect of an examination carried out under Regulation 31 of the Church Accounting Regulations 2008 and section 145 of the Charities Act 2011.

2.2 Respective Responsibilities of Trustees and Examiner

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

It is my responsibility to:

1. examine the accounts under section 145 of the Charities Act,

2. to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and

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

2.3 Basis of Independent Examiner’s Statement

My examination was carried out in accordance with general Directions given by the Charity Commission. 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 seeking explanations from the 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 and fair’ view and the report is limited to those matters set out in the statement below.

2.4 Independent Examiner's Statement

In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:

• accounting records were not kept in accordance with section 130 of the Charities Act or

• the accounts do not accord with the accounting records

I have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Signed:

Date: 22 March 2024

Name: Mark Blackwell ACMA Address: MHR Consultancy Limited Ferneberga House Alexandra Road Farnborough GU14 6DQ

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