| Pages | |
|---|---|
| Report of the PCC | 1-10 |
| Independent Examiner'sReport | 11 |
| Statement of Financial Activities | 12 |
| Balance Sheet | 13 |
| Cash Flow Statement | 14 |
| Principal Accounting Policies | 17 |
| Notes to the Financial Statements | 18-28 |
| Total | Total | ||||||
|---|---|---|---|---|---|---|---|
| General | Designated | Unrestricted | Restricted | Overall | |||
| Fund | Fund | Funds | Fund | Total | |||
| 31 | December | 2023 | 23,332 | (20,346) | 2,986 | 15,225 | 18,211 |
| 31 | December | 2022 | (27,429) | (330,681) | (358,110) | 28,243 | (329,867) |
| Unrestricted | Restricted | Endowment | Total | Total | |||
|---|---|---|---|---|---|---|---|
| funds | funds | fund | 2023 | 2022 | |||
| Note | |||||||
| Income from | |||||||
| Donations and legacies | 1 | 109,521 | 28,819 | 138,340 | 274,755 | ||
| Charitable activities | 2 | 6,438 | 6,438 | 3,252 | |||
| Tradingactivities | 3 | 129,669 | 129,669 | 113,651 | |||
| Investments & bank deposits | 4 | 11,660 | 11,660 | 10,825 | |||
| TotalIncome | 257,288 | 28,819 | 286,107 | 402,483 | |||
| Expenditure on | |||||||
| Raising funds | 5 | 1,887 | 1,887 | 30,160 | |||
| Charitable activities | 6 | 263,903 | 14,198 | 278,101 | 648,579 | ||
| Total Expenditure | 265,790 | 14,198 | 279,988 | 678,739 | |||
| Net income/(expenditure) | (8,502) | 14,621 | 6,119 | (276,256) | |||
| before gains oninvestments | |||||||
| Realised (loss)/gain on | (14,329) | (14,329) | 605 | ||||
| investments | |||||||
| Unrealised gain/(loss) on | 11 | 25,817 | 604 | 26,421 | (54,216) | ||
| investments | |||||||
| Net Movement in Funds | 2,986 | 15,225 | 18,211 | (329,867) | |||
| Transfer | |||||||
| Funds at 1 January | 854,720 | 124,826 | 475,000 | 1 | ,454,546 | ||
| Funds at 31 December | e475,ooo |
| Unrestricted | Restricted | Endowment | Total | Total | ||
|---|---|---|---|---|---|---|
| Note | funds | funds | fund | 2023 | 2022 | |
| Tangiblefixed assets | 10 | 501,355 | 475,000 | 976,355 | 976,379 | |
| Investments | 11 | 291,203 | 7,025 | 298,228 | 330,020 | |
| 792,558 | 7,025 | 475,000 | ||||
| Current Assets | ||||||
| Debtors | 12 | 15,997 | 1,808 | 17,805 | 16,931 | |
| Cash atbank and in hand | 74,549 | 131,218 | 205,767 | 147,283 | ||
| 90,546 | 133,026 | 223,572 | 164,214 | |||
| Creditors - Amounts |
||||||
| falling due within one year | 13 | (25,398) | (25,398) | (16,067) | ||
| Net Current Assets | 65,148 | 133,026 | 198,174 | 148,147 | ||
| NET ASSETS | $857,706 | |||||
| FUNDS | ||||||
| General Funds | ||||||
| Unrestricted Funds | 14 | 5,742 | 5,742 | (17,590) | ||
| Designated Funds | 15 | 851,964 | 851 ,964 |
872,310 | ||
| Restricted Funds | 16 | 140,051 | 140,051 | 124,826 | ||
| Endowment | 17 | 475,000 | 475,000 | 475,000 | ||
| $857,706 | E475,ooo |
| OR THE YEAR ENDED 31 DECEMBER 2023 |
||||
|---|---|---|---|---|
| 2023 | 2022 | |||
| Cash flows from Operating Activities | ||||
| Net cash(outflow)/inflow from/(used in) operating | activities | (10,961) | (286,061) | |
| Cash flows from investing activities | ||||
| Dividends and interest | 11,660 | 10,825 | ||
| Payments to acquire fixed assets | (428) | |||
| Proceeds from sales ofinvestments | 84,349 | 357,821 | ||
| Payments to acquire investments | (26,136) | (49,620) | ||
| Net cash provided by investing activities | 69,445 | 319,026 | ||
| Change in cash and cash equivalents in year | 58,484 | 32,965 | ||
| Cash and cash equivalents at 1 January 2023 | 147,283 | 114,318 | ||
| Cash and cash equivalents at 31 December 2023 | E147,283 | |||
| Notes to the Cash Flow Statement | ||||
| . Reconciliation of net movement in funds to net cash flow from operating activities | ||||
| 2023 | 2022 | |||
| Net movement in funds (as per the Statement ofFinancial Activities) | 18,211 | (329,867) | ||
| Adjustments for | ||||
| Unrealised (gains)/losses on investments | (26,421) | 53,611 | ||
| Dividends and interest from investments | (11,660) | (10,825) | ||
| Depreciation | 452 | |||
| Non-cash assets received by wayoflegacy Decrease / (Increase) in debtors |
(874) | (5,436) | ||
| (Decrease) / Increase in creditors | 9,331 | 5,996 | ||
| Net cash from / (used in) operating activities |
(10,961) | (286,061) | ||
| B. Analysis ofcash and cash equivalents | ||||
| Cash atbank and in hand | 205,767 | 147,283 | ||
| Total cash and cash equivalents | E205,767 | Z147,283 | ||
| C. Reconciliation of Net Cash | ||||
| At 31 | ||||
| January | Cash flows | Othernon- | December | |
| 2023 | cash changes | 2023 | ||
| Cash and cash equivalents | ||||
| Cash atbank | 147,283 | 205,767 | ||
| e205,767 |
| DONATIONS AND LEGACIES | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| Funds | Funds | 2023 | 2022 | |
| Stewardship | ||||
| Planned giving - stewardship scheme |
38,291 | 38,291 | 28,080 | |
| Other gifts and donations | 7,296 | 2,277 | 9,573 | 52,486 |
| Gift Aid tax recovered | 13,953 | 13,953 | 15,388 | |
| Total Christian stewardship | 59,540 | 2,277 | 61,817 | 95,954 |
| Friends of St Gabriel's | ||||
| Subscriptions | 290 | 290 | 1,128 | |
| Donations | 7,965 | 7,965 | 10,000 | |
| Gift Aid recovered | 227 | 227 | 2,732 | |
| Total Friends ofStGabriel's | 8,482 | 8,482 | 13,860 | |
| Grants and Legacies | ||||
| Mission Fund — Other gifts & donations |
3,990 | 3,990 | ||
| Mission Fund - Grants from Parish House |
14,070 | 14,070 | ||
| Archbishop's Council grant | 39,223 | 39,223 | 164,941 | |
| Legacies | 10,758 | 10,758 | ||
| Total Grants and Legacies | 49,981 | 18,060 | 68,041 | 164,941 |
| €109,521 | 28,819 | E138,340 | €274,755 |
| Year ended 31 December 2022 | |||
|---|---|---|---|
| Unrestricted | Restricted | Total | |
| Funds | Funds | 2022 | |
| Stewardship | |||
| Planned giving - stewardship scheme |
28,080 | 28,080 | |
| Other gifts and donations | 27,306 | 25,180 | 52,486 |
| Gift Aid taxrecovered | 15,388 | 15,388 | |
| Total Christian stewardship | 70,774 | 25,180 | 95,954 |
| Friends of St Gabriel's | |||
| Subscriptions | 1,128 | 1,128 | |
| Donations | 10,ooo | 10,ooo | |
| Gift Aid recovered | 2,732 | 2,732 | |
| Total Friends ofStGabriel's | 13,860 | 13,860 | |
| Grants and Legacies | |||
| MissionFund - LDF Grant |
|||
| MissionFund - Grants from Parish House |
|||
| Archbishop's Council grant | 164,941 | 164,941 | |
| All Churches Trust | |||
| Total Grants and Legacies | 164,941 | 164,941 | |
| €235,715 | €39,040 | 274,755 |
| Unrestricted | Restricted | Total | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | 2023 | 2022 | ||
| Income from weddings, funerals & baptisms | 6,438 | 6,438 | 3,072 | ||
| Income from other services | 180 | ||||
| €6,438 | E- | €3,252 | |||
| Year ended 31 December 2022 | |||||
| Unrestricted | Restricted | Total | |||
| Funds | Funds | 2022 | |||
| Income from weddings, funerals & baptisms | 3,072 | 3,072 | |||
| Income from other services | 180 | 180 | |||
| €3,252 | €3,252 | ||||
| INCOME FROM TRADING ACTIVITIES | |||||
| Unrestricted | Restricted | Total | Total | ||
| Funds | Funds | 2023 | 2022 | ||
| Rental income | 52,256 | 52,256 | 59,197 | ||
| Rental income from 37 Sheraton House | 16,230 | 16,230 | 1 | ,900 | |
| Hire ofchurch& vestry hall | 56,183 | 56,183 | 42,554 | ||
| Concerts and music recitals | 5,000 | 5,000 | |||
| €129,669 | E- | E129,669 | El 13,651 | ||
| Year ended 31 December 2022 | |||||
| Unrestricted | Restricted | Total | |||
| Funds | Funds | 2022 | |||
| Rental income | 59,197 | 59,197 | |||
| Rental income from 37 Sheraton House | 11,900 | 11,900 | |||
| Hire ofchurch& vestry hall | 42,554 | 42,554 | |||
| Concerts and music recitals | |||||
| 13,651 | E- | 13,651 |
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| Funds | Funds | 2023 | 2022 | |
| Bank interest | 3,401 | 3,401 | 1,522 | |
| Income from quoted investments | 8,259 | 8,259 | 9,303 | |
| €11,660 | E- | €11,660 | €10,825 | |
| Year ended 31 December 2022 | ||||
| Unrestricted | Restricted | Total | ||
| Funds | Funds | 2022 | ||
| Bank interest | 1,522 | 1,522 | ||
| Income from quoted investments | 9,303 | 9,303 | ||
| €10,825 | ElO,825 |
| EXPENDITURE ON RAISING FUNDS |
||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| Funds | Funds | 2023 | 2022 | |
| InvestmentManagement fees | 33 | 33 | 348 | |
| Maintenance and upkeep oflet property | 1,854 | 1,854 | 29,812 | |
| El,887 | El,887 | E30,160 |
| Year ended 31 December 2022 | |||
|---|---|---|---|
| Unrestricted | Restricted | Total | |
| Funds | Funds | 2022 | |
| InvestmentManagement fees | 348 | 348 | |
| Maintenance and upkeep oflet property | 29,812 | 29,812 | |
| €30,160 | €30,160 |
| Grants & | Other | Support | Support | Total | Total | |
|---|---|---|---|---|---|---|
| Donations | Costs | Costs | 2023 | 2022 | ||
| Diocese and wider church | 59,167 | 278 | 1,566 | 61,011 | 57,059 | |
| Church tunning costs | ||||||
| (includes Restricted funds) | 50,991 | 9,397 | 60,388 | 89,293 | ||
| Parish costs | 1,515 | 12,530 | 14,045 | 14,563 | ||
| Costs of providing church services | 34,757 | 4,699 | 39,456 | 35,297 | ||
| Webcam expenditure -Restricted fund | 4,320 | |||||
| Costs ofcharitable activities | 512 | 3,132 | 3,644 | 3,957 | ||
| Major church repairs -Designated fund | 78,969 | 78,969 | 437,086 | |||
| Professional fees — Designated fund |
8,383 | 8,383 | ||||
| Mission Fund -Restricted fund | 11,753 | 11,753 | 179 | |||
| Church statue -Restricted fund | 6,365 | |||||
| Depreciation | 452 | 452 | 460 | |||
| €59,167 | €187,610 | €31 | ,324 | €278,101 | €648,579 | |
| Year ended 31 December 2022 | ||||||
| Grants & | Other | Support | Total | |||
| Donations | Costs | Costs | 2022 | |||
| Diocese and wider church | 55,000 | 434 | 1,625 | 57,059 | ||
| Church running costs | ||||||
| (includes Restricted funds) | 79,545 | 9,748 | 89,293 | |||
| Parish costs | 1,566 | 12,997 | 14,563 | |||
| Costs of providing church services | 30,423 | 4,874 | 35,297 | |||
| Webcam expenditure-Restricted fund | 4,320 | 4,320 | ||||
| Costs ofcharitable activities | 708 | 3,249 | 3,957 | |||
| Major church repairs -Designated fund | 437,086 | 437,086 | ||||
| Mission Fund -Restricted fund | 179 | 179 | ||||
| Church statue -Restricted fund | 6,365 | 6,365 | ||||
| Depreciation | 460 | |||||
| €55,000 | €561,086 | €32,493 | €648,579 | |||
| Total | Total | |||||
| 2023 | 2022 | |||||
| Support Costs | ||||||
| IT costs | 556 | 1,213 | ||||
| Parish Administrator | 14,422 | 13,522 | ||||
| Parish office costs | 1,155 | 2,020 | ||||
| Independent examination fees | 6,401 | 2,280 | ||||
| Accounting and bookkeeping fees | 8,474 | 5,131 | ||||
| CES and professional charges | 7,841 | |||||
| Bank and other charges | 316 | 486 | ||||
| n 1,324 | E32,493 |
| Diocese and wider church | 5% | (2022: 5%) | 1 , 566 |
1 ,625 |
|---|---|---|---|---|
| Church running costs | 9,397 | 9,748 | ||
| Parish costs | 400/0 | (2022: 400/0) | 12,530 | 12,997 |
| Costs of providing church services | (2022: 15%) | 4,699 | 4,874 | |
| Costs ofcharitable activities | (2022: 10%) | 3,132 | 3,249 | |
| €31,324 | €32,493 |
| 2023 | 2022 | |
|---|---|---|
| Wages and salaries | 14,147 | 13,079 |
| Social security | ||
| Otherpension costs | 275 | 443 |
| €14,422 | €13,522 | |
| No employee has received remunerationat a rate of €60,000 or more per annum (2022: Nil). | ||
| The average numberofstaffemployed in the year was: | ||
| 2023 | 2022 | |
| Administration | 1 | 1 |
| 10. | TANGIBLE FIXED ASSETS | Unrestricted | |||
|---|---|---|---|---|---|
| Funds | Endowment | Unrestricted | |||
| Long Leasehold | Long Leasehold | Equipment | Total | ||
| COST OR VALUATION | |||||
| At 1 January 2023 | 500,000 | 475,000 | 10,156 | 985,156 | |
| Additions | 428 | 428 | |||
| At 31 December 2023 | 500,000 | 475,000 | 10,584 | 985,584 | |
| DEPRECIATION | |||||
| At 1 January 2023 | 8,777 | 8,777 | |||
| Charge for theyear | 452 | 452 | |||
| At 31 December 2023 | 9,229 | 9,229 | |||
| NET BOOK VALUE | |||||
| At 31 December 2023 | €500,000 | €475,000 | €1,355 | €976,355 | |
| At 31 December 2022 | €500,000 | €475,000 | El,379 | €976,379 |
| INVESTMENTS | ||||
|---|---|---|---|---|
| Total | Total | |||
| General Fund | Music Fund | 2023 | 2022 | |
| Marketvalue | ||||
| Atbeginning ofyear | 323,599 | 6,421 | 330,020 | 691,832 |
| Additions | 26,136 | 26,136 | 49,620 | |
| Disposals | (84,349) | (84,349) | (357,821) | |
| Unrealised gains/(losses) | 25,817 | 604 | 26,421 | (53,611) |
| 291,203 | €7,025 | €298,228 | €330,020 | |
| Cost ofinvestments | 297,654 | €4,740 | €302,394 | €360,608 |
| Unrealised gains/(losses) on investments | 2,285 |
| 11. | INVESTMENTS (continued) | |||
|---|---|---|---|---|
| Year ended 31 December 2022 | Total | |||
| General Fund | Music Fund | 2022 | ||
| Marketvalue | ||||
| At beginning ofyear Additions |
685,478 49,620 |
6,354 | 691,832 49,620 |
|
| Disposals | (357,821) | (357,821) | ||
| Unrealised (losses)/gains | (53,678) | 67 | (53,611) | |
| €323,599 | E6,421 | 030,020 | ||
| Cost ofinvestments | E355,868 | E4,740 | €360,608 |
| DEBTORS | ||
|---|---|---|
| Total | Total | |
| 2023 | 2022 | |
| Trade debtors | 1,000 | 1,000 |
| Agency collections | 6,340 | |
| Taxreclaimable on Gift Aid | 2,515 | 10,181 |
| Prepayments | 7,950 | 5,750 |
| €17,805 | €16,931 |
| Total | Total | |
|---|---|---|
| 2023 | 2022 | |
| Accruals | 12,987 | 14,302 |
| Deferred income | 4,084 | 1,765 |
| Other creditors | 8,327 | |
| 25,398 | €16,067 |
| Opening | Released | Closing | ||
|---|---|---|---|---|
| Balance | Income | Expenditure | from | Balance |
| (incl. Gains) | Designation | |||
| €872,310 | €67,039 | E- | €851,964 | |
| Opening | Income& | Designated in | Closing | |
| Balance | Gains | Expenditure | Year | Balance |
| E122,564 | €872,310 |
| 6. RESTRICTED FUNDS |
|||||
|---|---|---|---|---|---|
| Opening | Transfers & | Closing | |||
| Balance | Income | Expenditure | Gains/Losses | Balance | |
| Year ended 31 December 2023 | |||||
| Friends Funds | 68,228 | 2,117 | 67,900 | ||
| Fabric Fund | 6,270 | 6,270 | |||
| Fabric Webcam Fund | 430 | 430 | |||
| Mission Fund | 22,315 | 18,060 | (11,753) | 28,622 | |
| StaffFund | 6,703 | 6,703 | |||
| Miscellaneous Small Funds | 1,438 | 604 | 2,042 | ||
| Broadcasting Equipment | 2,627 | 2,627 | |||
| Marcus Cornish Fund | (6,365) | 6,365 | |||
| Organ Fund | 23,180 | 2,277 | 25,457 | ||
| €124,826 | €29,423 | E- | €140,051 | ||
| Year ended 31 December 2022 | |||||
| Friends Funds Fabric Fund |
54,368 6,270 |
13,860 | 68,228 6,270 |
||
| Fabric Webcam Fund | 4,750 | (4,320) | 430 | ||
| MissionFund | 20,494 | 2,000 | (179) | 22,315 | |
| StaffFund | 6,703 | 6,703 | |||
| Miscellaneous SmallFunds | 1,371 | 67 | 1,438 | ||
| Broadcasting Equipment | 2,627 | 2,627 | |||
| Marcus Cornish Fund | (6,365) | (6,365) | |||
| Organ Fund | 23,180 | 23,180 | |||
| E96,583 | €39,107 | E 124,826 |
| restricti | ons | imp | osed | by | t | he Dioce | se. | Se | e Tangible | FixedAssets — note |
10. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total | Total | |||||||||||
| 2023 | 2022 | |||||||||||
| Balance | on | the | fund | at | I | January | and | 31 | December | 2023 | €475,000 | €475,000 |