CHARITY REGISTRATION NUMBER: 1133931 

The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone 

# Financial Statements 31 December 2022 

HARDCASTLE BURTON Chartered accountants & statutory auditor 36 Dene Road Northwood Middlesex HAG 2DA 



## The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone 

## Financial Statements 

## Year ended 31 December 2022 

||Page|
|---|---|
|Trustees’ annual report|1|
|Independent auditor's report to the members|4|
|Statement of financial activities|9|
|Statement of financial position|10|
|Notestothefinancialstatements|11|





# The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone 

# Trustees’ Annual Report 

## Year ended 31 December 2022 

The trustees present their report and the financial statements of the charity for the year ended 31 December 2022. 

## Reference and administrative details 

Registered charity name The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone 

Charity registration number 1133931 

## Principal office 

## The trustees 

Rev S Keeble Incumbent (Retired 6 January 2023) Mrs F E Lewis Churchwarden and Deanery Synod Mr D Bashokat Ms S Davis Mr M Dilukshan Mr R Eagle Ms R Ford Mr R Gunaratnam Mrs W Humphries Mr A Lewis Mr J Malcolm Mrs M Priest Mrs P Simmons 

## Auditor 

Hardcastle Burton Chartered accountants & statutory auditor 36 Dene Road Northwood Middlesex HA6 2DA 

## Structure, governance and management 

The Parochial Church Council was elected following Church Representation Rules at the Annual Parochial Church Meeting held on 27th June 2021 following socially distancing rules. The Church did not have the benefit of technology to allow this to be on Zoom. The number elected is dependent upon the number of names on the Church's Electoral Roll, to which all members of the congregation are encouraged to apply. The Incumbent, Church Wardens who are elected at the meeting of the Parishioners which immediately precedes the APCM. Deanery Synod representatives are elected for a three year term are all ex officio members of the PCC. Officers for the year following the APCM are elected at a PCC meeting immediately following the APCM. 

## Objectives and activitles 

## Mission Statement 

To promote and strengthen the mission of the Church withing the ecclesiastical parish of St.George Headstone. 

-1- 



# The Parochial Church Council of the Ecclesiastical Parish of St 

## George, Headstone 

## Trustees' Annual Report (continued) 

## Year ended 31 December 2022 

## Achievements and performance 

In the year ended 2022, the expenditure in excess of income amounted to £176,809. However this mainly was a result of the unrealised loss of £185,427. While it is disappointing to see this drop in our investment value after several years of gains, it should not come as a surprise given that 2022 was a politically turbulent year. 

The PCC reassessed its investment policies and considered a couple of alternative custodians for our funds. At the end of the process, the PCC voted to remain with our current fund managers. 

The income from Stewardship/Collections/Donations all remained stable and we continued to have a good stream of income from use of the church premises for recording sessions, amounting to more than £21,000 for the year. 

Given that 2022 was a year when many faced the deleterious effects of high inflation, it was a relief to see that the costs relating to church activities also remained fairly stable. Though we were spared any major repair costs in 2022, we expect to incur high repair costs this year relating to the Hall flooring, vestry roof and the church organ. 

The PCC has committed to pay £77,000 as its Common Fund contribution for the year ended 2022. 

It is the PCC’s view that all Church premises are adequately covered for risks by our current insurance policy. 

If you have any queries, please give them in writing to one of the church Wardens and we shall respond. 

## Financial review 

The deficit of Income over Expenditure amounted to £177,030, (2021surplus: £99,367). Reserves were £3,683,952, (2021 :£3,860,982). 

Dividends of £38,414, (2021:£39,663) were received from the Investment Funds managed by Sarasin & Partners. This was in line with expectations.The value of investments fell this year by £195,543 to £1,312,923). 

It is the PCC's view that all Church premises are adequately covered for risks by our current insurance policy. 

All the repairs and refurbishments are now completed. 

## Trustees’ responsibilities statement 

The trustees are responsible for preparing the trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

-2- 



## The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone 

## Trustees’ Annual Report (continued) 

## Year ended 31 December 2022 

The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. 

in preparing these financial statements, the trustees are required to: 

- — select suitable accounting policies and then apply them consistently; 

- e observe the methods and principles in the applicable Charities SORP; 

- make judgments and accounting estimates that are reasonable and prudent; 

- — state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are 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 trustees’ annual report was approved on 13 February 2024 and signed on behalf of the board of trustees by: 

Mr M Dilukshan Trustee 

-3- 



## The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone Independent Auditor's Report to the Members of The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone Year ended 31 December 2022 

## Opinion 

We have audited the financial statements of The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone (the ‘charity’) for the year ended 31 December 2022 which comprise the statement of financial activities, statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- ® give a true and fair view of the state of the charity's affairs as at 31 December 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- e have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; 

- e have been prepared in accordance with the requirements of the Charities Act 2011. 

## Basis for opinion 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## Conclusions relating to going concern 

in auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

-4. 



## The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone 

## Independent Auditor's Report to the Members of The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone (continueg) Year ended 31 December 2022 

## Other information 

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## Matters on which we are required to report by exception 

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report. 

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion: 

- ¢ the information given in the trustees’ report is inconsistent in any material respect with the financial statements; or 

- adequate accounting records have not been kept; or 

- e the financial statements are not in agreement with the accounting records and returns; or 

- e we have not received all the information and explanations we require for our audit. 

## Responsibilities of trustees 

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 

-5- 



## The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone 

## Independent Auditor's Report to the Members of The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone (continued) 

## Year ended 31 December 2022 

## Auditor's responsibilities for the audit of the financial statements 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

We identified areas of laws and regulations that could reasonably be expected to have a maiterial effect on the financial statements for charitable entities operating within this sector, through our own experience as well as through discussion with management and those charged with governance and inspection of regulatory and legal correspondence. We reviewed policies and procedures regarding compliance with laws and regulation and remained alert throughout our audit to any implications of non- compliance, with areas of highest risk communicated to all members of the audit team. 

The charitable entity is subject to laws and regulations directly affecting the financial statements including financial reporting legislation and taxation legislation which we assessed compliance with as part of our review of related financial statement items. This includes the Charities Act 2011 as referenced above. 

We considered areas which could be most susceptible to fraud or misstatement, which included the use of journals and suspense accounts and management override controls. Our audit work has been performed to ensure that those areas have been tested on a sample basis. 

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected a material misstatement within the financial statements while performing our audit in accordance with applicable audit standards. Irregularities may involve a collusion, forgery, intentional omissions, misrepresentations or override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. 

A further description of our responsibilities is available on the Financial Reporting Council's website at www.frc.org.uk/auditors responsibilities. This description forms part of our auditor's report. 

-6- 



## The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone 

## Independent Auditor's Report to the Members of The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone (continuea) 

## Year ended 31 December 2022 

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: 

- e Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. 

- ¢ Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. 

- e Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. 

- ¢ Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern. 

- e Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. 

-7- 



# The Parochial Church Council of the Ecclesiastical Parish of St 

## George, Headstone 

## Independent Auditor's Report to the Members of The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone (continuea) 

## Year ended 31 December 2022 

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 

## Use of our report 

This report is made solely to the charity's members, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed. 


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M- Avtar<br>**----- End of picture text -----**<br>


36 Dene Road Northwood Middlesex HA6 2DA 

Mrs M J Anthony BA, FCA, DChA (Senior Statutory Auditor) 

For and on behalf of Hardcastle Burton Chartered accountants & statutory auditor 

13 February 2024 

-8- 



## The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone 

## Statement of Financial Activities 

## Year ended 31 December 2022 

||||2022||2021|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|||
|||funds|funds|Total funds|Total funds|
||Note|£|£|£|£|
|Income and endowments||||||
|Donations and legacies|4|33,944|200|34,144|36,394|
|Charitable activities|5|110,655|-|110,655|120,394|
|Othertrading activities<br>Investment income|6<br>7|74<br>38,414|-<br>-|74<br>38,414|49<br>39,663|
|Total income||183,087|200|183,287|196,500|
|Expenditure||||||
|Expenditure on raising funds:||||||
|Costs of raising donations and<br>legacies|8|200|200|400|-|
|Expenditure on charitable activities|9,10|170,372|-|170,372|194,315|
|Other expenditure|11|3,897|221|4,118|22,273|
|Total expenditure||174,469|421|174,890|216,588|
|Net (losses)/gains on investments|12|(185,427)|-|(185,427)|99,367|
|Net (expenditure)/income and net||||||
|movement in funds||(176,809)|(221)|(177,030)|79,279|
|Reconciliation of funds||||||
|Total funds broughtforward||3,860,761|221|3,860,982|3,781,703|
|Totalfundscarriedforward||3,683,952|-|3,683,952|3,860,982|



The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 

The notes on pages 11 to 17 form part of these financial statements. 

-9- 



## The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone 

## Statement of Financial Position 

31 December 2022 


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||||||||||
|---|---|---|---|---|---|---|---|---|
|2022|2021|
|Note|£|£|£|
|Fixed|assets|
|Tangible|fixed|assets|16|2,331,841|2,337,667|
|Investments|17|1,312,923|1,508,466|
|3,644,764|3,846,133|
|Current|assets|
|Debtors|18|69,973|42,076|
|Cash|at bank|and|in|hand|24,977|11,086|
|94,950|53,162|
|Creditors:|amounts|falling|due|within|one year|19|55,762|38,313|
|Net|current|assets|39,188|14,849|
|Total|assets|less|current|liabilities|3,683,952|3,860,982|
|Net assets|3,683,952|3,860,982|
|Funds|of the|charity|
|Restricted|funds|-|221|
|Unrestricted|funds|3,683,952|3,860,761|
|Total|charity funds|20|3,683,952|3,860,982|

**----- End of picture text -----**<br>


These financial statements were approved by the board of trustees and authorised for issue on 13 February 2024, and are signed on behalf of the board by: 

Mr M Dilukshan Trustee 

The notes on pages 11 to 17 form part of these financial statements. 

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# The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone 

## Notes to the Financial Statements 

## Year ended 31 December 2022 

## 1. General information 

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Pinner View, Harrow, HA1 4Ru. 

## 2. Statement of compliance 

These financial statements have been prepared in compliance with FRS 102, ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. 

## 3. Accounting policies 

## Basis of preparation 

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. 

The financial statements are prepared in sterling, which is the functional currency of the entity. 

## Going concern 

There are no material uncertainties about the charity's ability to continue. 

## Fund accounting 

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. 

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. 

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. 

-11- 



## The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone Notes to the Financial Statements (continued) Year ended 31 December 2022 

3. Accounting policies (continued) 

## Incoming resources 

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: 

- e — income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. 

- — legacy income is recognised when receipt is probable and entitlement is established. 

- e income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. 

- e income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. 

## Resources expended 

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classitied under headings of the statement of financial activities to which it relates: * expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods. 

- ¢ — expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. 

- e other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. 

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attriputable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. 

## Tangible assets 

All fixed assets are initially recorded at cost. 

## Depreciation 

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: 

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## The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone Notes to the Financial Statements (continued) 

## Year ended 31 December 2022 

## 3. Accounting policies (continued) 

## Investments 

Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. 

Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. 

## Impairment of fixed assets 

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. 

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. 

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. 

## 4. Donations and legacies 

||Unrestricted|Restricted|Total Funds|
|---|---|---|---|
||Funds|Funds|2022|
||£|£|£|
|Donations||||
|Collections<br>Fees and donations|11,079<br>22,865|-<br>200|11,079<br>23,065|
||33,944|200|34,144|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2021|
||£|£|£|
|Donations||||
|Collections<br>Fees and donations|10,558<br>25,836|-<br>-|10,558<br>25,836|
||36,394|-|36,394|



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## The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone 

## Notes to the Financial Statements (continueg) 

## Year ended 31 December 2022 

## 5. Charitable activities 

|||Unrestricted|Total Funds|Unrestricted|Total Funds|
|---|---|---|---|---|---|
|||Funds|2022|Funds|2021|
|||£|£|£|£|
||Income from non-investment property|||||
||in furtherance ofthe charity's objects|110,655|110,655|120,394|120,394|
|6.|Othertrading activities|||||
|||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||Funds|2022|Funds|2021|
|||£|£|g|£|
||Church fundraising|74|74|49|49|
|7.|Investment income|||||
|||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||Funds|2022|Funds|2021|
|||£|£|£|£|
||Incomefrom listed investments|38,414|38,414|39,663|39,663|
|8.|Costs of raising donations and legacies|||||
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2022|
||||£|£|£|
||Costs of raising donations and legacies|- Donations|200|200|400|
||||Unrestricted|Restricted|=Total Funds|
||||Funds|Funds|2021|
||||£|£|£|
||Costs of raising donations and legacies|- Donations|-|-|-|
|9.|Expenditure on charitable activities byfund type|||||
|||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||Funds|2022|Funds|2021|
|||£|£|£|£|
||Church activities|142,640|142,640|150,263|150,263|
||Rental activities|20,855|20,855|37,080|37,080|
||Support costs|6,877|6,877|6,972|6,972|
|||170,372|170,372|194,315|194,315|



-14- 



## The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone 

## Notes to the Financial Statements (continued) 

## Year ended 31 December 2022 

## 10. Expenditure on charitable activities by activity type 

|||Activities|||||
|---|---|---|---|---|---|---|
|||undertaken<br>directly|Support costs||Totalfunds<br>2022|‘Total fund<br>2021|
|||£||£|£|£|
||Ghurch activities|142,640||5,077|147,717|155,539|
||Rental activities|20,855||-|20,855|37,080|
||Governance costs|-||1,800|1,800|1,696|
|||163,495||6,877|170,372|194,315|
|11.|Other expenditure||||||
||||Unrestricted||Restricted|Total Funds|
|||||Funds|Funds|2022|
|||||£|£|£|
||Major hall repairs and equipment purchases|||3,897|221|4,118|
||||Unrestricted||Restricted|Total Funds|
|||||Funds|Funds|2021|
|||||£|£|£|
||Major hall repairs and equipment purchases|||22,273|-|22,273|
|12.|Net (losses)/gains on investments||||||
|||Unrestricted|Total|Funds|Unrestricted|Total Funds|
|||Funds<br>£||2022<br>£|Funds<br>£|2021<br>£|
||Gains/(losses) on listed investments|(185,427)|(185,427)||99,367|99,367|
|13.|Net (expenditure)/income||||||
||Net (expenditure)/income is stated after|charging/(crediting):|||||
||||||2022<br>£|2021<br>£|
||Depreciation oftangible fixed assets||||5,826|5,825|
|14.|Auditorsremuneration||||||



## 15. Trustee remuneration and expenses 

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees 

No trustee expenses have been incurred. 

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## The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone 

## Notes to the Financial Statements (continuea) 

## Year ended 31 December 2022 

## 16. Tangible fixed assets 

|||Land and|||
|---|---|---|---|---|
|||buildings|Equipment|Total|
|||£|£|£|
||Cost||||
||At 1 January 2022and 31 December2022|2,260,601|116,515|2,377,116|
||Depreciation||||
||At 1 January 2022|-|39,449|39,449|
||Charge forthe year|-|5,826|5,826|
||At 31 December 2022|-|45,275|45,275|
||Carrying amount||||
||At 31 December 2022|2,260,601|71,240|2,331,841|
||At 31 December2021|2,260,601|77,066|2,337,667|
|17.|Investments||||
|||||Listed|
|||||investments|
|||||£|
||Cost or valuation||||
||At 1 January 2022|||1,508,466|
||Additions<br>Disposals<br>Fairvalue movements|||-<br>(10,116)<br>(185,427)|
||At 31 December 2022|||1,312,923|
||Impairment||||
||At 1 January 2022and 31 December 2022||||
||Carrying amount||||
||At 31 December 2022|||1,312,923|
||At31December 2021|||1,508,466|
||All investments shown above are held at valuation.||||
|18|Debtors||||
||||2022|2021|
||||£|£|
||Prepayments and accrued income||69,973|42,076|
|19.|Creditors: amounts falling due within one year||||
||||2022|2021|
||||£|£|
||Accrualsanddeferredincome||55,762|38,313|



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## The Parochial Church Council of the Ecclesiastical Parish of St George, Headstone 

## Notes to the Financial Statements (continueg) 

## Year ended 31 December 2022 

## 20. Analysis of charitable funds 

## Unrestricted funds 

|Unrestricted funds||||||
|---|---|---|---|---|---|
||At<br>1 January202|||At<br>Gains and31 December||
||2|income|Expenditure|losses|2022|
||£|£|£|£|£|
|Unrestricted Fund|3,860,761|183,087|(174,469)|(185,427)|3,683,952|
||At<br>1 January202|||At<br>Gains and31 December||
||1|Income|Expenditure|losses|2021|
||£|£|£|£|£|
|Unrestricted Fund|3,781,482|196,500|(216,588)|99,367|3,860,761|
|Restricted funds||||||
||At<br>1 January 202|||At<br>Gains and31 December||
||2|Income|Expenditure|losses|2022|
||£|£|£|£|£|
|Restricted Fund -Organ||||||
|Fund|221|200|(421)|-|-|
||At<br>1 January202|||At<br>Gains and31 December||
||1|Income|Expenditure|losses|2021|
||£|£|£|£|£|
|Restricted Fund -Organ||||||
|Fund|221|-|~|—|221|



The Church has a restricted fund for organ income and expenditure. 

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