Charity registration number 1133968 The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Annual Report And Unaudited Financial Statements For The Year Ended 31 December 2023
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Legal And Administrative Information CharSty numb•r 1133968 Vlcar & Chalrmon Lay Chalmian Vacant Mr Richard Nevard Churchwarden (Elected April 20231 Prlnclpal addre89 Sl Mary's Chur Hlgh Street Leigh Tonbridge Kent TN118QR Ind•p•nd8nt •xomlner Loucos The Carriage House Mill Street Maidslone Kent ME156YE Banker• Sanlander Bridle Road 8oolle Merseyside L30 4GB
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Contents Po96 Truslees, report Independent examinerf5 report Stslement of financial aclivilie8 Balance 8heel 10 Notes lo the finonclal statements
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Trustees, Report For The Year Ended 310ecember 2023 Thts Trustees present their annual report and financial statement$ for the year ended 31 December 2023. The fin8nci81 staternenls have been prepared In a¢cordance with the 8¢counling policies set out In not? 1 to the financial 81alemenls and comply with the charity's goveming document, the Charities Act 2016 and "Accounting and Reporting by Charities.. Staloment ol Recommended Practice applicable lo charllies preparin9 their accounts in accordance with the Financial Rtsporting Standard applicable In the UK and Republic ol Ireland IFRS 1021 leffeclive 1 January 20191 Oblectlv¢$ ond activltle8 Sl Mary's Church Is p8rt of the Tonbridge Deanery and the Dio¢e5e of Rochester. The Parochi81 Church Coun¢ll ol Sl Mary's Ilhe PCCI h88 the responsibility ol co-oper81ing Wlth the incumbent in promoting In the e¢ele$i8StI¢81 parish the whole mission ol the church.. pastoral. evangelistic, social and ecumenical. The PCC is a corporate body established by the Church of England. The PCC operates under the P8rts¢hial Church Council Power5 M6a$ure and is a regislered charlty no. 1133968. PCC members are responsible lor making decisions on 811 rn8tters of general concern and Import8n¢¥ lo the parish, includln9 decidin9 on how the funds ol the PCC are lo be spent. The Trustees have had due regard lo the Charity Commisslon's guldanc8 under Charities Act 2016 on public benefit whon nsidering the Charity's objectives and activitigs. Sl Mary's Church provides public benefit by offerlng a varlely of styles of public worshlp and by provlding an open, 8c¢e$slble and welcoming village resource. The PCC'S 8greed the following priorities and croated working groups for oach in May 2023 1. Services and regular activities lincludlng sludy groups ana pastoral care 2. Quinquenni81 Repairs and fabric 3. Fulure Prlestly leadership 4. Finance and Fund raising Page 1
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Trustees, Report (Continued) For The Year Ended 31 December 2023 1. Srvlces and RegularActlvltles. 1.1Church membership and attendance in¢lu(Jlng all servl¢es was as follows.. 2023 94 15 45-60 10 2022 100 Number on electoral roll Numbèr on roll not resident in parish Usual Sunda attendance adults Usual Sunday attendance - under the age of16 Easter attendance Christmas attendance lisms Weddin s & Blessin Funeral8 in church 40 107 338 116 362 7. cremation8 5, 8she$ 5 Staff, members of th PCC and volunteers have relnvigorated church 8Ctivilies with enthusiasm during 2023. 1.2 Vtslunte? Volunteers are the backbone of church aclivilies and include gardeners. deaner8, openers and c108ers. magazlne deliverers. pastoral workers, children'5 workers and house group leaders. Volunteer$ regularly provid8 r¥fre$hmenls in the Genner ro¢m$ and at ypeeial avènts. Speclal mention should be made ol the bell rtnging team, including 8 clock winder, and the volunltrers who climb the tower when necessary. The St Jarnes, Guild ha8 18 volunteer8. who clean Ihtr ¢hurch wgekly and do extra duties when weddings and funerals take place, We are also grateful to the flOr arrangers lor bringln9 some fantastic examples of God's beauty intts the Chuf¢h. 1.3 Staff The Church Adminislralor 1$ 8V8ilable on Monday and Wednesdays to meet parishioners and has two other momings worklng from home when she re3ponds lo emall and phone calls. Her hours were increased to help cope with the inter-regnum. The Youth and Families Minister usually 8llend$ lh8 church on Wednesday momings for prayers, conducts a service on Sund8y rnomings either in ¢hurch or in Jesslca's Hall, and has two evening house group$. He 8180 prepa$ and delivers projects lor GambSa Prolecl8 Over6e•¥, 8 ¢harity 5UPPOrted by Sl M8ry'5. 1.4 S8rvlc•8 Services contlnued according to our regular pattern aiming lo provlde for the diverse traditions, following tho liturgical calendar and providing servKe8 with a local flavor. Family services are a150 bro8dc85t on YouTube. The Churchwardens have buitt a new team of retired Vicars. who recelve a lee for each service. We ¢onlinue to have the paid servlce ol a lull-lirne Youth and Familios Mlnister and the voluntary service of a Pastoral Asslstant, who 81s0 8cIs 88 Funer81 Verger. 1.5 Chlldren Forest Churth, which started In the early days ol the COVID pandemSc In 2020. takes place in J9$Sa'S Hall and occasionally in a garden or farrn. Work 15 ongoing lo bling the lomiula and spirit ol Forest Church, and the involvement of children, into the church building. Volunteers provided a lively panI 8nd toddler group- Totzone on Monday mornings. bringing 40 different families into a connection with the church (Juring the year. Volunteers responded positively to requests from the school to hold 8 Remembrance Service on the green and to make use of thè church at other limes. particularly at and of term and al Christrn88 Wlth a pantomime and Carol Service. 1.6 Safeguarding The PCC has appointed individu815 to the requisite roles and continue5 to abide by its Safeguarding Policy. I this respect, the PCC is lulty compliant with DioTrsan requirements. During the year 811 staff and volunteers were encour8ged to take approprlate safeguarding training for their roles Page 2
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Trustees, Report {Continuedl For The Year Ended 31 December 2023 1.7 Risk Assèssment Risk assessments were undertaken and ieviewed in 2023 in the light of changing and emerging risks. 1.8 Music Sl Mary's retains the services of two oig8nisl$ and has links with other local organists lor weddngs and funeral$. A gUitari5Vsinger and keyboardisl play at family ServiS. The Leigh Ladies Choir have performed a concert in the church and sang at occasional seryices. The PCC hopes this will become a regular monthly fixture in 2024. 1.9 Pastoral Work A new pastoral team ha5 been forrned under the leadership of the Pastoral Assistant. Training materials 3upplie(I by the Diocese were followed. 5UPPOrted by our Inow reliredl LLM. The volunteer group 18 now activety monitoring the well-being of vulnerable members ol the parish. 1.10 Communlty Sl Mary's has continued lo support a local food bank and local charities. The church st8yed open for private prayer all year round thanks lo a 10 strong team of volunteers wtto open and close th$ church. The last year has seen major changes in the Community New5 magazine. Cherry ONeil handed over as editor after 22 years to Mark Attwood. Distribution and collection of 5ubscriplions have been re-organised, consideration is bein9 given to distribution in both hard copy and digital formals. Hi Rez Designs continue to produce a professional looking magazine. Coffee Slop on Wednesdays is thriving, drawing in walker5 and badminton players and other member5 of the church and community. The film club which meets on¢ts a month Is also thriving and popular. The PCC considers that away giving is a core value and has maintained our pollcy ol giving away 10% of unrestricte¢J income 113 to overseas charities Including Gambia Projeds Overseas, 113 to national charities an¢J 113 to local charities. However. due to exceptional fsnancial circumstances agreed to reduce the level of giving in 2023. The PCC supports and values our continuing link with Sl Thomas & St Luke's in Chailton. 1.11 House Groups Approximatety 50 parishioners attend House groups led by Jane Wilhers131 and David 8ennie121, that continue to flourish meeting in people's homes in the evenings and also a daytime meeting in the Genner R00rn5 on Thursday momings. Parishioners were also invited to join Lent study groups lead by Rev Mandy Carr of Sl George's Weald. 1.12 Home Communion The PCC has encouraged the introduction of home communion for parishioners who find il difficult to get to regular service$. We a grateful to Dr Sally Musson for making this possibl8. Page 3
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Trustees, Report (Continued) For The Year Ended 31 December 2023 2. Qulnquennial Repairs and Fabri 2.1 Church Bulldlng Routine Maintenance of electric81 equipment. the boiler and clock has been ¢ompleted. The boiler is has exceeded its planned life and will need replacing in the near future. The Quinquennial Inspection of August 2022 highlights minor repairs that the PCC intends to Garry Out in 2024. Planning to treat the rnore extensive problems with the lower is progre55ing. The outstanding ts¢ulty for the fitting of cameras for live streaming during Covid has been progressed. 2.2 Churchyard Grass cutling lor much of the churchyard is Cgntracted out and regular working parties have been arranged lo maintain the new churchyard and other tasks. The outstanding faculty for the planting of a Cherry tree in the new churchyard in 2022 has been completed. Tho PCC continues to be mindful of managing the churchyard lo promote biodiversity and to encourage the growth of wild flowers in the chuichyard extension. Voluntee15 maintain the memorial wall and planting. Work is In in hand to remove gri)wth on the back of Hall Place Gate house. 2.3 Vicaragè The vicarage is owned by the diocese who decide on its use. Nevertheless, the PCC maintains a watch over thè property and pays for gra55 Gutting and utiliteS. It is clear that significant refurbishment will be needed before the building can be occupied. 3. Future Priestly Leadèrship On 2 Octobei 2022, the parish entered an Inlerregnurn. The Bishop suspended thè Patron's rights ol presentation until 20th Feb 2024. During the year the Churchwardens have had meetings wth the Archdeacon and our Patron from CPAS on future priestly leadership. Discussions are continuing with St George's Weald on a possible future shared ministry. It Is hoped that more detail can be given at the time of the APCM. 4. Finance and Fundrnlslng 4.1 Fundralslng The tnaiority ol personal giving is usually received through collections al services and regular mthlY or quarterty contributions. Gift Aid 15 reclaimed on as many eligible donations as possible. We do not use third party suppliers lo assist us with our fundraising. The charity has not voluntty subscribed to any fundraising slandaids 91 schemes lor fundraising regulation. There have been no complaints to Ite charity regarding fundraising. The ¢harity is mindful of the need to protecl vulnerable peop and other members of the public from any unreasonable intrusion on their privacy. $u¢h as being unreasonably persistent or pLicing undue pressure on a person to give money or other property. Since fewef people now carry cash the PCC has introduced a card machine and QR code to lacililale on-line giving. 11 is the policy of the PCC Ihat a minimurn of 50¢/0 ol any collection m8de in the church should go toward unrestricted Chureji furnds. Financial revlew The PCC reported an operating defrcit of £40,125 12022.. £50,835) which. when Investrnent g8ins of £20,784 12022.. losses of £59,4831 were taken into account, resulted in net expenditure of £19.341 lor the year 12022.. £110,3181. Planned giving continues to be considerably less than opera¢in9 expenditure. The PCC 49 participating in a pilot ol the National Comèrstone fundraising initiative. It is the poli of the charity that unrestricted funds which have not been designated for a specrfic use should be maintained at a level equivalent to between three and six-month's expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds rnay be raised. This level ol reserves has been maintained throvghout the year. Page 4
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Trustees, Report (Continued) For The Year Ended 31 Dember 2023 Reservès Free unrestricted reserves stood at £361,809 at the year end 12022.. £383.9141. Designated reserwe5 Stood at £37,249 12022.. £34,9751, being £20,049 in respect ol the Memorial Wall Fund and £17.200 held in the Church Repair Fund. The restricted fund Friends of St Mary's contained £11.542 12022.. £11.0521. The PCC'S Inve5trnent Policy allows the annual operating defirit to be funded by ils unrestricted ieserves over the long temi. Golng concern The Trustees have evaluated the orcumstances Sn which the PCC operates. The PCC has unre51ricled rostrrves of over £350,000 and the Trustees have therefore conduded that there are no rnaterial uncertainties that cast doubt on the chArity's ability to continue as a going concern over the medium term. The Trustees have assessed the major risks to which the charity 45 expo3ed. and 81e satisfied that systems are in place to mitigate exposure to the major risks. The Trustees who served during the year and up lo the dale of signature ol the financial statement5 were.. Vicar: Vacant Churchward&ns'. Ri¢hard Nevard IL8y Chairmanll+l Linda 8oyd 1+1 Deanery Synod Repre$en¢ative¥'. Julie Porterl+l Gill Bennie loffice manager) Elected Members: To seek re-eleGtion in 2024.. James W8rd To 58ek r8-el&cb"on An 2025.. Bèfb8r8 8bldo¢k Bel Swallow To seek re-election in 2026.. Sarah-Jane Hardy Helen Scott l+) Stephanie Rutherford Tirn Qneil Judy Howgrd Juli8 Baggot Cowopted Memb Lisa Srotyr (+)(seCtary) (Co-()pled Member since September 2023) Non.Members in attendancè: D8vid Bennie Iyoulh and Families Minister) Lisa Siotyi l+llSecretaryl (Co-opted Member since September 20231 Salish Mathur I+IITreasurer) 1+1 Denote5 rnembership of the PCC Standing Cornrnittee, which meets six times a year and is empowered lo transa¢t thè normal business of ihe PCC between tneetings, subject to any directions given by the Council. Page 5
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Trustees, Report (Continued) For The Year Ended 31 Dember 2023 The PCC met six limes during the year.. Chuichwaidèns are ex-officio Twstees, as are the Deanery Synod Representatives, providing the PCC wilh an important link between the parish and the wider structures of the church. Churchwardens ale elected on an annual ba515. UP to an aged maxitnum of six years. A further nine rllemb815 are elected, a third ol whom Stand for - election every three years. The new members and officials noted above were elected and appointed at the Annual Parochial Church Meeting held on 24th April 2023 and elected or co-opted at subsequeni meetings of the Council. all otheis we either elected at APCMS or appointed previously. The Trustees, report was approved by the Board of Trustees. Rlchard Nevard Trustee Dat8d.. Page 8
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Statemenl Of Trustees, Responsibilities For The Year Ended 31 December 2023 The TNst8es ar6 rèsponsible for preparing the Trustees, Report and the fin8n¢i81 statements in accord8nce with applicable law and United Kingdom Accounting Standards (Unrted Klngdom Generally Accepted Accounting Practicel. The law appllcable lo charllles in England and Wdles requires the Trustees to prep8re financial statements lor e8¢h financial year which give a true and fair view of the slate of affairs of the chhrfty and ol the incoming resources and appllcalion ol resources ol the chaiity for that year. In pparIng these financial staternenls, the Trustees are requlred to.. $ele¢l suitable accounting policies and then apply them consistently., observe the methods and prin¢iple$ In the Charities SORP., make ludggm¥nts and estimates that are reascsn8blè and prudent., Slate whether applicable accounling Standar(Js have been followed. Sublecl to any material departure6 disclosed and explained in the financial $18lemen16'. and prepare the financial 8lalemenls on the golng concern basls unle9$ It Is Inappropriate lo prèsume that the charty wlll conllnue in operation, The Trustees are responsible lor k88ping sufficient accoufiling re¢ords that di8close with reasonable accura¢y al any time thè finAncial position ol the charity and enable them lo ensure Ihal the financlal 8lalemenl8 comply wlth the Ch8rilles Act 2016, the Charity IAccounl$ and Reports) Regulalions 2008 and the provisions of the Iwst deed. They are 8150 responslble for safeguarding the assets ol the charity and hence lor laking rtsason8tyle steps for thè prevention and detection ol tr8ud and othe¥ irregulari1185. Page 7
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Independent Examinels Report To The Trustees OfThe Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent I report lo the Trustees on my examination ol thts finanoal statements ol The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin. Leigh, Tonbridge. Kenl (the Gharityl for the year ended 31 December 2023. ResponJlbllltle8 ond ba•ls of report As the Trustees ol the charity you are responsible lor the preparation of the financial 8t8lemenl$ In accordance wlth the requirements of the Charitles Act 2016 (the 2016 A¢ll. I report in respect of my examination ol the eh8rlty's financial slalemenls carrled out under sedion 745 of the 2016 Act. In carrying oul my èxamination I have followed all the applicable Diredions given by the Charity Commission under 8ection 14515llbl of the 2016 Act. Ind•pénd•nt examln•rf• ¥tstemènl Your attèntion Is drawn lo the facl th81 th¢ charfty has prepartsd Ilnancial staternents in accordance wllh Accountirng and Reporting by Charities preparing Ihelr accounts in acwrd8nce wlth the Flnancial R8POrting Standard applic8ble in the UK and Rèpublic ol Ireland IFRS 1021 in prèference to the Accounting and Reporting by Charllles.. Slatemenl of Recommended Practlce issued on 1 Aprll 2005 which is referred lo in Ihe èxtant regulations but has now been wllhdrawn. l understand that thls has been done in order lor financi81 slalements lo provide a true 8nd lair view in accord8nce wlth Generally Accepted A¢¢ounllng Practice effective lor reporting periods beglnnlng on or after 1 January 2019. I have cornpleted my ex8rnination. I confirm that no rnatters have come lo my 8ttenllon in connectlon wllh th trxaminalion 9iving me cause lo believe that in any maleri81 respe¢t'. acctsunling records We not kept in respect ol the charlly as required by secllon 130 01 tha 2018 Acl,. or the fin8ncial $18tements do nol accord with those records., or the financial statements do not comply with the applicable requlremenlg concernlng Ihe lom and content ol accounts sèl out in the Charille5 IAccounl$ and Reportsl Regulatitsns 2008 other than any requirement that the o¢¢ounls give a true and fair view which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connecllon wllh the examln811on lo whlch attenllon should be drawn in this report in order lo enable 8 p.roper understanding ol the financial slalernents to be aChed. Alhos Louco, FCCA, ICPAC Isenior $18tutory Audilorl for and on behalf of Lou¢a8 The Carriage House Mill Street Maidslone Kertl ME156YE Dated.. Page 8
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Statement Of Financial Activities Including Income And Expenditure Account For The Year Ended 31 December 2023 Unr•strlc¢ed Restrietod funds funds 2023 2023 Totsl Unre¥trlctèd Restrlcted funds funds 2022 2022 Totsl 2023 2022 Notes Income from: DonalSons and legacies Charitable activitie8 Other trading activities 1nve$lment$ 34.032 26.613 180 15.505 490 34,522 26,613 180 1 S,505 37,370 18,053 1,194 17,588 1,CfjO 38,430 18,053 1,194 17,588 Total Ineomo 76,330 490 78.820 74,203 1,060 75.283 Expendlture on: Raising lunds Ch8rit8ble activities Other expenditure 5,475 101,750 9,720 5,475 101.750 9,720 S,666 114,55S 5.877 5.666 114,555 5.877 13 Tot81 expenditure 116.945 116,945 126,098 126,098 Net g8in81110588s1 on investments 14 20,784 20.784 159,4831 159,4831 Nel Incomellexpendlturel and mov•ment In funds 140,6151 490 140.1251 151,8951 1,060 150,8351 Recon¢lll4tlon of lund8'. Fund balances at 1 January 2023 418,889 11,052 429,941 530.267 9,992 540,259 Fund balance$ ot 31 December 2023 399,058 11,542 410,600 418,889 11,052 429,941 The slalemenl of financi81 aetivities irncludes all g8in$ and losses recogni5ed in the year. All income and trxpendlture derive frorn continuing Activities. Page 9
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Balance Sheet As At 31 December 2023 2023 2022 Notes Flxed o¥set$ Tangible assets Investments 16 17 2,355 381,382 6.050 385.598 383.737 391,648 Currènt assets Stocks Debtors Cash al bank and in ttand 18 19 500 4,638 44,423 soo 5,115 35,317 49,561 40,932 Credltor8'. amount• f•lllng du• wlthln one year 20 122,6981 12,8391 Nel current assets 26,863 38,293 Tot81 a8•et8 le81 current Il•bllltle8 410.800 429,941 In¢omo fund8 Friend¥ 01 St Mary's 11,542 11,052 21 11,542 11,052 Dosign81èd funds.. Memori81 Wa11 fund Church Repair fund 20.049 17,200 18.975 16.000 22 37,249 361,809 34,97S 383.914 General unreslrided fund$ 399,058 418,889 410,600 429,941 The flnancSal statements were approved by the Trustees on .....,............... R4chard Nevard Tru8teè Page10
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Notes To The Financial Statements For The Year Ended 31 December 2023 Accountlng pollclg¥ Charlty Infomiotlon The Parochial Church Councll ol the Ecclesiastical Parish ol Sl Mary The Virgin. Leigh, Tonbridgè. Kent is pat1 of the Tonbridge Deanery and the Diocese of Rochester. The Parochial Church Council of Sl Mary's (the PCCI h88 the responsibility ol co-operating with the in¢umbenl In promoting in the ecclesiastical parish the whole mission ol th8 church." pastoral. evangelistic. social and ecumenical. The PCC 15 8 corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure and is a reglstered charity no. 1133968. 1.1 Accountlng ¢tsnv•ntlon The financial stslements hava been prepared in accordance wllh Ihe charlly's governing doeumenl, the Charities Act 2016 and Accounling and Reporting by Charllies.. Statement ol Recommended Practice 8ppIic8ble lo charbtles preparing their accounts In accordance with the Financial Reportlng Standard applicable In the UK and Republic ol Ireland IFRS 1021 leffeclive 1 January 20191 The charity is 8 Publ1¢ 8eneflt Entity as defined by FRS 102. The charity has 18ken Advantage ol the provi8ions In the SORP lor charities apptying FRS 102 Updab 8ull8tln 1 not to propare a Slglemenl ol Cash Flows. The financial statements have departed from the Charities (Accounts 8nd Reports) Regulation5 2008 tsnly lo the extent required to provide a tru¥ and lalr view. Thi5 deparlure ha$ involved following the Slalement ol Recommended Practice for charities applying FRS 102 rather thon the version of the Stalemont ol Recommended Practice which 1$ rgfgrrad to in the Regulation5 bul which has since been withdrawn. The financlal slalemenl8 are prepared In sterling. whlch is lh¥ functional currency ol the ¢harity. Monetary amounts in thèsa financial slalemenls are rounded lo the nearest £. The flnancial stalernenls have been prepared under the hl$lorl¢al Cost conveTS1ion. The prlnclp81 accountlng policies adopted 8re set out below. 1.2 Golng concern Al the lim& of approving the financial statement$, the Trustees have a reasonable expectatlon that the charity has adequate resources to continue in operallonal existence lor the foreseeable future. Thus Ihè Trustees conllnue to adopt the going concèm basis ol accounting in preparing the financlal slalemenl$. 1.3 Charltabl• funds Unrestricted funds represent the funds ol the PCC that are not subject lo any restrictions regarding Ihelr use and are avai18bl6 for application on the 9enero1 purposes ol the PCC. Designated funds 8re unrestricted fund5 sel aside by the PCC for 8pe¢ific purposes and carn be r¥4èsignated by the PCC al any timè. There are currently two designated funds. Tho Memon81 W811 Fund is for the periodic extension, modification and m8inten8nce ol the Memorial Wall on the northern boundary of the churchyard. Th6 Chufrrh Repair Fund 1$ held by the Diocese on bghalf of the PCC and is intended to contribute lo the cosls ol work arising Yrom the Quinquennial Inspection. Restricted fund5 are those where donors have placed $trIct10n$ on the use of the funds. Th& Friends of Sl Marys Fund was established in 2013 to hold donation5 given by those in the villag8 who do not engage with the $piritual life ol the St Mary'5 but nevertheless value the church's presence in the community. Page 11
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Notes To The Financial Statements (Continued) For The Year Ended 31 December 2023 Accounting policie¥ Icontlnuedl 1.4 In¢om• Income is recogni5ed when the charity is legally entitled to it after any perforrnance condillons have been met, the amounts can be measured reliably, and it is probable that income will be received. ColbctSons are recognised when received by or on behalf ol the PCC. Planned giving receivable under Gift Asd is recognised only when receNed. Income lax recoverable on Gift Aid don8llon$ Is recognised when the Income is recognised. Grants and l$gaeles lo the PCC are accounted It>[ as soon as the PCC is notified of fts legal entillernenl, the amount due 15 quantifiable and ils ullimale receipt by the PCC is reasonably probable. C8$h donations are recognlsed on re¢elpl. Other donalions are recogni$&d once the charity has been notlfied ol the donation, unleJ8 performance conditions require delerral ol the amount. Income tax rècoverable In relation to don81i¢n$ received under Gift Aid or deeds of ¢ov$nant is recognised al the lim• of the donation, Legacies are recognlsed on receipt or olherwi8e if the ¢h8rlty has been notifled o18n impending di%lribulion, the amounl is known, and r8ceipl is expecltsd. If the amount is not known. the legacy is treated as 8 contingent asset. 1.15 Exp•ndlturn Expendilurts 18 recognised once there is a legal or nStruCtive obligation lo Ir8n$ler economic benefll lo a third party. rt is probable that a transfer of eeonomi¢ b¥neflls will be required in $olllem6nt. and the amount ol the obligallon can be rneasured reliably. Expendilure is classrfied by acllvlty. The costs ol each 8Ctlvlty are made up of the IL)lal ol dIrl CO818 and shared costs, including sUPPOrt costs involved in undertaking each acllvily. Dlrect co$1$ 8ttrlbutable lo a slnglo activity are allocated dlrectly to that activity. Shared costs which conlribule lo more than one activity and support costs which are not attributable lo 8 single activity are apportioned between those activitKg8 on 8 bas1$ consistent with the use ol resources. Contr81 slaff costs are allocated on the basls of time spent, and depreciation charges are allocated on the portlon ol the asset's use. Chadlable 8cllvilles Includes the direct costs ol the Church and ils mi8$ion 8$ well as COBls incurretj In support of th0$¥ 8¢t1VleS. 1.6 Tanglblg Ilxod a•••t• Tangible fixed 8ssels are inltially measured at cost and subsequently me4$ured at cost or valualiort, n*t ot depreGiotion and any impairment losses. Depreci81ign is recognlsed so as lo write oll the cost or valuation of 8S$ets less thelr residual values over thelr useful lives on the following base3'. Fixtur¥$ and fittings 25Vo On ¢081 The gain or1055 arising on the disposal ol an asset is delemiined as the difference belwtsen the sale woceeds and the carryin9 value of the as561, and Is recogni5ed in the statement ol financial activities. Consecrated and benefic8d property of any kind is excluded from the accounts by 5.9612llal of the Charrtie$ Act 2011. Movable church lumishings held by the Rector and Churchwarden5 on speclal tru51 for the PCC, and which requirè a faculty for disposal, are accounted as inalienable property unless consecfated. 1 expendrture incurred on consecrated or beneficed propety, whether maintenance or improvements, is written off. Page 12
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Notes To The Financial Statements (Continued) For The Year Ended 31 December 2023 Accounting policie• Icontlnuedl 1.7 Flxod a886t Inv6stments Fixed asset inveslmenls are initially measured at transaction price excluding transaction costs. 8nd are subsequently measured at fair value at each reporting dale, Changes in fair value are reco9nised In ng1 ncomellexpenditurel lor the year. Transactiori costs are expensed as incurred. 1,8 Imp4lrni•nt of Ilxed a88ets At each reporting end dale, the charity reviews the carryin9 amounts ol Its tangible assets lo deltrmina wh9ther there is any indication that those assets have sufferèd an Impairment loss. 118ny such Indation exists, the recoverable amount of the asset is esliwated In order lo determine the exitsnl of the Impalrmenl loss lif any). 1.9 Stock8 Sloeks Bre staled al the lower of cost and estimated selllng prlce less cos18 to complete and sell. Cost comprlses dlre¢l materials and. where applicable, direct 18bour costs and those overhe3d5 that have been incurred In bringing the stock5 to their pre$onl 10¢8llon and condition. Items held for dlstribution ot no or nominal consideration 8re me8$ured the lower of replacement cost and ¢o$l. Nel re81I8able v8lue Is the estlmaled selllng price le88 8110811mgled cosls ol complellon and ¢o$l$ to be Incurred in marketlng. selllng and distribution. 1.10 Cash 4nd ¢o$h •qulval•nts Cash and cash equivalents include cash In hand, deposits held at ¢811 with banks, other short-term liquid Investments with original malurilies ol three months or less, and bank overdrafts. Bank overdraft8 are shown withln borrowlngs in current Ilabllitie8. 1.11 Flnanclal In8¢fum*nts The charity has elected lo apply the provislons of Secllon 11 'Ba$ic Flnancial Inslrumtnl8' and Sactlon 12 'Other Financial Instrurnenls l$sug$' ol FRS 102 to all ol ils finan¢i81 Instruments. Flnancial instruments are recognised in the charrty's balance sheet when the ¢harlty becomes paty lo the contractual provisions of the inslrumenl. Financial assets and liabiliti¥$ ara offset, wilh the net amount$ presented in the financial slalements, when there is a legally enforceable right lo set off the recognised 8mounts and Ihere is an intention lo settle on a net basis or lo realise the a$s¢l and settle the liability simultaneously. Baslc flnan¢i?l J$sets Basic financial assets, which include debtors and cash and bank balances. are inili8lly meaSUd transaction price including transaction costs and are subsequently carried al amortised cost uslng the effective interest rnethod unless the arrangement constitutes a flnancing transaction. where the transaction is rneasured at the presènt value ol the lulure receipts discounted al a market r81ts of interest. Finanri81 a$sets 1853ifi?d 85 receivable within one year 8fe not amortised. Pa9e 13
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Notes To The Financial Statements (Continued} For The Year Ended 31 December 2023 Accountlng poII¢ig¥ Icontlnuedl Basle fln4nclal Ilabllltles Basic financial Iiat)ililies. including creditors and bank loans arè inltially recognised at transaction price unless the arrangement constilules a financing transaction, where the debt instrurnenl is measured at the psent Value of the future payments discounted al a market rate of interest. Financial liabilities classified as payable wlthin one year arg not amortised. Debt Instruments ale subsequently carried al arnortis¢d cost, usirsg the effective interest rat? method. Trade creditors are obligation5 to pay lor goods or services that have been acquired in the ordinary course ol operations from supplier5. Amounly p8yable are classified as current liabilities il payment is due within one year or less. 11 not, they are presentèd as non-current liabilities. Trade creditors are recognised initialty al Iransaction price and sub$oqu¥nlly measured al amortised cost using the elf&ctive interest method, D•re¢¢gnltlon of Ilnanclal Ilabilltles Financial liabililles are doro¢¢gnised when the charlly's conlraclu81 obligations expire or are di8ch8rgo¢J or ¢8ncell61J. 1.12 Employee beneflt• The co81 of any unused holiday entitlement is recognistrd in the period in which the tsmployee'8 sety13 are re¢eivtd. Termination benefits are recognlsed immedlately as an expense when ltte Charlty Is demonstrably commSlltd lo terminate Ihe employment of 8n employee or lo provide terrninaiitsn bènefits. Crltlc¥l o¢¢ountlng O•tlmate• and judgement8 In the application of the charity's accountlng policles. the Trustees are roquired lo make judgements. estlmates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources, The estimates and associated a85umpllon8 are based on historical experSèn¢e and other factors that are consiaergd to be relevant. Actual results may differ from these estim8les. rhe estlmates and underlying a8$umpln$ are revlewed on an on90ing basis. RevisionB to accounting ¥slimales are recognised in Ihe period in which the estimate is revi3ed where the revlslon affects lY that period, or In the perlod of the revision and future periods where th9 rèvision affeclB both currgnl and future periods. Page 14
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Notes To The Financial Slatements (Continued} For The Year Ended 31 December 2023 Donatlons and legacle8 Unre8trlcted Re8trlcted lund¥ fund$ Totsl Unrtrslri¢leJ Restricted lund8 funds Total 2023 2023 2023 2022 2022 2022 Don81ion$ and gifts Grants received Other 31,937 490 32.427 35,492 1,26S 613 1.060 36,552 1,265 613 2,09S 2.095 34,032 490 34.522 37,370 1.080 38,430 Donatlon$ and glfts Planned giving Gift Aided Planned giving CAF Planned giving other Collections Sundry donatlons Gift Aided Svn4ry iJon8lbn$ othgr Gift Aid recoverable Other 14.989 2,531 835 4,248 14.989 2,531 835 4,248 21,453 2,584 371 4,067 1,000 22,513 2,584 371 4,087 2,000 1,074 2,000 1,074 490 6,260 470 1,432 5.115 470 1,432 5,115 490 6,260 31,937 490 32,427 35.492 1,060 36,552 Charltable actlvltle• chUh Chur¢h mag•zln• Total 2023 ¢hur¢h Chur¢h m•gizln• Totsi 2022 2023 2023 2022 2022 Sale of goods Other income 12,944 12,944 13,669 9,955 9,955 8,098 13,669 8,098 13,669 12,944 26,613 8.098 9,955 18,053 Page 15
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge. Kent Notes To The Financial Statements (Continued) For The Year Ended 31 Dernber 2023 Income from other tradlng a¢tlvStl•8 Unrg¥tri¢toiJ Unrestrlcted funds fund8 2023 2022 Fundraising events 180 1,194 Income from Inv•8tm•nt• Unre8lrlcted Unr••trleted funds fund• 2023 2022 Interest CeIvable 15,50S 17,588 Exp•ndltur• on rol•lng funds Unro¥trl¢tod Unrn8trlcted lund8 lund$ 2023 2022 Tradlng c08t8 Magazine and printing ¢os18 5,475 5,668 Pa9e 16
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Notes To The Financial Statements (Continued) For The Year Ended 31 December 2023 Expendltur• on eharltablè aetlvltlo8 Charltable ChaTltabl• Expenditure Expertdilur• 2023 2022 Dlr8Ct costs Slatt cost$ Depreciation and irnpairmenl MSnislry costs Youth and fami1188 mlnlslry Church repalrs and malnlen8n¢e Genner room expenses 43,778 3,694 20.174 907 21.529 158 38,084 3,694 44,281 1,278 25,569 407 90.240 113,293 Granl lunding of J¢tivrtie$ l$ee note 91 11,510 1,2fj2 101.750 114,555 Analys18 by fund Unreslricl6d luntjs 101.750 114,555 Don•iion• mod* Church actlvltle• 2023 Church a¢livities 2022 Oonalions to instilulions. Over8088 R•llof and Dfrvelopment Agonclos Garnbi8n Projects Overse85 Home Ml881on8 & other Church Organl¥allon• Friend5 of Rochester Cathe4r81 Friend$ ol Kent Churches Salvation Army Secular Charitablè Oryanlsatlon8 Leigh Primary School Ukrainian Families DEC Ukrainian Appeal Accural for unpaid donations 1,500 10 10 10 13 729 500 10,000 11,510 1,262 The PCG maintains a pollcy ol giving a minimLJm of 1 OQ/a of its donated income (excluding restricted income) lo missions and chanties, wilh particular emphasis given to those which operate from a Christian base. Thi$ has not been possible in 2022-2023 due to exceptional circumstances. Page 17
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Notes To The Financial Statements (Continued) For The Year Ended 31 December 2023 10 Independant Examlnorf• R•muneratlon F••¥ payabl• to th• Indopèndant Examlner 2023 2022 Nonv4udlt ¥•NI¢o• Independant Exarnination 1,260 1,200 Other expendilure includes payments lo the independent examiners of £1,26012022'. £1,200) for Independent examination fees. 11 Tru¥t••• Two trustees rece8 r8munèr8llon of £13,446 and reimbursed expenses of £280. 12 Employee• The average monthly number of employees during the year was,, 2023 Numb•r 2022 Number Employment colts 2023 2022 VVage$ and 8alari&8 43,778 38,064 There were no em 0YeeS whose annual remuneration was more than £60,0W. 13 Other Unrestrl¢ted Unrtsstricted funds fund$ 2023 2022 Accrued expenditure Office Admin costs Internet 6,260 2,372 1.088 1,200 3,988 709 9.720 5,877 Page 18
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Notes To The Financial Statements (Continued) For The Year Ended 31 December 2023 14 Galns and losses on Investments Unrestrlcted Unr8Btrlcted lunds fund8 2023 2022 G8lnslllo$s&$l arising on.. R8valuation of inveBlrnents 20,784 159,4831 15 Taxatlon The charity 15 exernpl from 18x81ion tsn its a¢tivilie$ because 811 Its Income is applied for charitable purposes. 16 Tanglble Ilxed •s•et• Flxtur•i and flttlng* Ct At 1 January 2023 27,967 Al 31 De¢embe¢ 2023 27,987 O•pr•¢l•tlon and Impalmiént Al 1 January 2023 Depetion charged In the year 21.918 3,694 Al 31 December 2023 25,612 C•rrylng amount Al 31 December 2023 2.355 Al 31 December 2022 6,050 Page 19
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Notes To The Financial Statements (Continued) For The Year Ended 31 December 2023 17 Flxgd a•set Inve¥tments Unllgted Inve•tment8 Cost or valuatlon Al 1 January 2023 Valuation changes Dlsposals 385.598 20.784 125,0001 Al 31 Doc*mber 2023 381,382 C•rrylng amount At 31 December 2023 381,382 At 31 December 2022 385,598 18 Sto¢k• 2023 2022 Raw rnalerials and ¢on8umablts 500 500 19 O•btorn 2023 2022 Amounto falllng due wlthln on? year.. Other ¢J&blors 4,638 5.115 20 Credltor¥= amounts falllng duè wlthln one year 2023 2022 Trade creditors Accruals and deferred Income 1,439 21,259 1.439 1,200 22,698 2,639 P8ge 20
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Notes To The Financial Statements (Continued) For The Year Ended 31 December 2023 21 Re$trf¢tod fund• The r&slrl¢lea fund$ of the charity comprise the unexpended balances of dollations and grants hold on trust subject to specific conditions by donors as lo how they may be used. At 1 January 2023 Incomlng re8ource8 At31 December 2023 Frfonds ol St Mary's fund 11,052 490 11,542 Prè¥lou8 yèar: At 1 Januory 2022 Ineomlng re8ource• At31 December 2022 Friends of St Mary's fund ,992 1,060 11.052 22 Unrfr8trlct•d lund8 The unreslTiCted lund8 of the ch8rty comprlse the unexpended balances of donations and gronl$ whlch are not subject lo specific conditions by donors and grantors as to how they may bè used. Theso include deslgnated funds which have been $¢1 aslde out ol unreslricled lund5 by the Iruslees lor specific purposes. At 1 January 2023 Incomlng re$ourcg8 Resour¢*8 èxpended TrAn•f•rg Galns and 1098e• A131 Déeèmber 2023 Memorial Wall fund Church repalr fund General funds 18.975 1,074 20,049 18.000 383,914 1,200 11,2001 17,200 361,809 75.256 1116,9451 20,784 418,889 76,330 1116,9451 20,784 399,058 Pag8 21
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent Notes To The Financial Statements (Continued) For The Year Ended 31 December 2023 22 Unrestrlcted fund8 Icontlnuedl Provlouty y¥or= At 1 J¥nu¥ry 2022 In¢ornlng re¥our¢o# Rg¥ource¥ exp¥nd¢d Tronsfgr• Gains and 108808 At31 Dee•mber 2022 Memorial Wall fund Church repalr lund General funds 17.543 1.432 18,975 13.800 499.124 2,400 12,4001 16,000 383,914 72.771 1126,0981 159,4831 530.267 74.203 1128,0981 159,4831 418,889 23 Analyo18 of net assets befvmen funds Unrn8trlc¢ed lund• 2023 Re$¢Tl¢¢trd fund8 2023 Totsl 2023 Fund balane08 at 31 Deeomber 2023 are repre•ented by.. Tangible 8s3ets Investmenls Curronl 0$8etsllli8bi1111*81 2,355 381,382 15,321 2,355 381,382 26,863 11,542 399,058 11,542 410,600 Unrg8¢rl¢t•d funds 2022 R•8trlet•d funds 2022 Total 2022 Fund bal4nc?8 at 31 Dec?mb•r 2022 ar• r•pre8•nted by.. TangtsIe assets Inveylrnents CUrnt assels1lliabililies1 6,050 385.598 27,241 6.050 385.598 38,293 11.052 418.889 11,052 429,941 24 Related party tran8o¢tlon• There were no disclosable related party transactlons during the year12022- nonel. Pagè 22