ST MARY THE VIRGIN PARISH CHURCH
wEsTER￿A￿ KENT
FINANCIAL STATEMENTS
of the
Parochial Church Council
for the year ending 31° December 2023
Priest in Charge:
Reverend David Fox-Branch
The Vicarag¢
Vi¢aragc Hill
We5teTham. Kent
Bank
National Westminster Bank PIC
Sevenoaks branch
67 High Street
Sev¢noak4 Kent
Independent eIAminer:
Brian [k)￿S
61 Croydon Road
Keston
BR2 6EH
25th May 2024
Registered charity number 1133994

ST MARY THE VIRGIN PARISH CHURCH
Membership of the PCC 2023
The method of ap￿intment of PCC members ￿ set out in tF& Church Representstion Rules. with members
for 2023 listed below.
Ex Officio:
Priest in Charge
Co-opted
Churcbwarden
Deanery Synod
resentatives
Eleeted
Membern
(12 allowed
Including CO•
ted
Rev David Fox-Brdnch
Revd Wendy Harvey
Mrs C Cusick
Mrs C Boston
Mrs K Smart
Mr D Booker
Chair
Since 23 Se
mkr 2021
Elected May 2023
Chair of Fabric Committee
Vice ch￿'r from 24 Jan
CO￿[*¢d May 2023
2024
Mrs G Bumiester
Mrs J Dutrield
Mrs K Johnson
Dr A Leather
Mrs A MorTiS
Mr B Preslon
Mrs R Preston
Mr K Willcox
Mr P Cambnd
Mr R Pomfrei
Parish Safeguarding oifjcer
Vice Chair until 24th Jan
2024
Ctro
C(
edma
2023
The PCC is supwrt¢d by the following officers (not PCC members) but in attend￿ at meetings)
Secretary
Miss A Coughjan
In attendance at meetings
Ap￿inted 8 November 2023
Due to Allness, Mrs Perrett was unable to draw up these accounts and Ms Melanic Bailey was ap￿inted for
that purEK)se.
Mrs A P¢TTett
All those who attend our services are encouraged to rewstcr on the Hectoral Roll a￿1 stand for election to
the PCC. PCC members are res￿lL81b1¢ for making decisions on all matters of g¢n¢TaJ concern and
importance to the parish. includmg deciding how PCC fimds are to be s￿nI.
Giv¢n its wide resrK)nsibilities. the PCC has three SU￿cOmmItt¢¢5- Fabric, Finance and a Stsnding
Committee which can make decisions required ￿tween fi￿1 PCC rn¢¢tings. Each committe¢ h&$ clear ternis
of r¢fcrence and rep)rt back to the full PCC. In 2023 a ￿181 Committee was establishe4 which raises
funds through social and community ¢venls. There is also an Environm¢nthl Group, which is o￿n to non-
church members and works ¢$￿iallY with regard to ts S Mark of Missio

FiDancial Report by the PCC of S¢ Mary the Virgin Parish Church. Westerham for 2023
l Aim and purpose
St Mary the Virgin Par(Khial chU￿h Coun¢il (PCC) has the r￿￿nsibIlity of c(K)perating with the Priest in
Charge. the Reverend David Fox-BranclL in promoting in the ecclesi&stical parish. the whol¢ mission of
ChurcEL pastoral. evangelistic, social a￿1 ecumenical. The PCC is also S￿cifICallY reswnsible for the
maintenance of the Church of St Mary the Viwn, I￿lUding the attsched 'John Fryth Room. hall and
churchyard at Thc Greeo Westerham.
2 Objeetivej and activitiej
The PCC is committed to ￿SIng the 5 Marks of Mission to shape the life of the church community in our vision
of "Serving ChrisL Westerham and the Wider World" Th¢ 5 Marks of Mission express th¢ Anglican
Communion's cornmon commitment to. and understanding of, G(Kl's holisticjintegrdl mission. i.c.
l. To proclaim the Good News of the Kingdom
2. To teach. baptise and nurture new believers
3. To res￿nd to human necd by loving 5¢rvi¢¢
4. To transfomi unjust structures of society, lo challenge violence of every kind and pursue peace and
reconciliation
5. To strive to safeguard the integrity of creation. and sustain and renew the life of the earth
We seek to Teach as many pyle as FM)ssible with the Good News of Jesus ChrisL enabling them to worshlp
at the church and to Ixcome part of thc f￿'th community ai Si Mary the Vir￿n. We aim to baKfit the public
locally and from further afield by offering a variety of church services and by enabling ￿>ple to live out their
faith within both the church and wider community. As a pwish church, we SUPEK)rt people from Westerham,
and further afield, at EHrtscular win15 in their liv¢s by prcpanng them for, and tsking weddings, baptisms and
fun¢rals. Thc number of 'occasional ofFi¢¢s' held in church was 35 in 2023, compared to 30 in 2022 and
23 in 2021.
Our services and worship put faith into prnctice through prayer and scripture, music and sacrament.
To f&ciliti*e all this worl it is imFK)rtant that we nuintsin the fabric of th¢ Chur¢h of the Church building and
churchyard.
In 2023 our Ministy Team consisted of..
Priest in Charge. Rev. David Fox-Br8nch
Priest wlth Pern?ission lo Officiale, Rev. Wendy Harvey
OTdinand Dr s￿ Leatkr.
This year we appointed a Director of Music. Mr Daniel Eat0￿ who SUPPK)rts the ministy team's service
planning, plays the organ and piano for Sunday and other services, leads the choir and plans special events.
We also have 2 prt-time ￿ld office administrator. who adth'tioftally serves as Secretary to the Parochial
Church Counril.
Achievements aod perfomanee
This year was the first since the Covid pandemic in which we were able to pl8n the entire year without
reference to public health considerations. Although. in common with many parishcs. Sunday congregation
numbers at individual services remain lower than in 2019. the last full y¢ar pr¢-Covi4 they remained steady
with som¢ signs of growth compared with 2022.
Number5 at seasonal services were close to 2019 leve15. and slightly higher on Ash Wethi¢sday, Maundy
Thursday and Eastcr Day. At Christmas the Crib Service. which intr(MJuced in 2022, thc congregation

was over 500/0 gr¢ater than in the first year while our other Christmas and Advent s¢rvAces continued last
year's growth.
In 2023 we continued to broad¢n our worship provision with the iotroduction of yl Sunday. an inforn￿l
service with l￿d-led music and activities for all ag￿.
A significant moment in the life of the prish was the Coronation of King Charles III. although it was
noticeable thai this did not draw prople to the pmnsh church in the same way that the Jubile¢ and then death
of the late Queen th'd in 2022.
To proclaim Ihe Good Ne￿ of the Kingdom
Being the only Anglican church in West¢rham we offered a variety of worship service4 incluth'ng tr&ditional
language 'said' Communi0￿ choral morning S¢Tvices. Evensong and 'Messy Church..
Ministers lead Morning Prayer most Tuesdays. Wednesdays. Thursdays. Fridays and Saturdays, as well as
midweek Eucharist. We have a ffgular schools ministsy shared with the local Congregational Church. plus
four ￿h0o1 services in ¢hur¢h thi's year. These are oppK)rtunities ￿ bring the Christian message to adults and
children alike who otherwise might not t￿rnIallY visit a chU￿h. We were also pleased to welcome Valence
School members to St Mary's this year. to talk about the church and our faidL
We have sought opw)rtunities to collaborale with other local church¢s at key moments ID the year.
To teach, bapttse and nurture nejv believers
As well as systematic Bible-based preaching in Sunday service4 ¢hur¢h m¢mb¢rs and the Priest in Charge
support the local Church of England Sch(L)l as governors. The school has a distin¢tiv¢ly Christian ethos, and
th¢ church endeavours lo supw)rt that wherever pK)ssible. In 2023. school wotship was tie41 more closely to
th¢ SIAMS curriculum. We encouraged the school to em￿Wer the children to take a lead in preparing and
leathng whole-school worship and class-based worship, and the C￿'ldren have responded with enthusiasm.
Bibles. donat¢d by an anonymous donor, were th'stributed in school at a spyciai Ll)Ilectiv¢ worship to
wel¢om¢ reception children.
In addition, we orgamsed an ecumenical Lent course and host¢d a Deanery Confimiation serviL% for the first
time in som¢ years. with two adults from St Mary's being confiTmed and one other being re(¥ived into the
Church of England as well as canth'daies from elsewhere being confirnied.
To rupond to human Deed by loving service
Throughout the year there are particular servirA that draw many from the community into the church. In
2023. at requ¢st of the British Legion. the Remembrdnce service was held inside. after an outdoor act of
Remembranc¢. for the first time sinrx 2019. Although this probably reduced the number of people who
stayed for the worship part of the evenL it enabled the Legion lo incre&se the value of the collection they
received and many who allended seemed to feel moved by the service.
The church is open every day for private ￿8Yer as well as for tourists (free of charge). prayer requ¢sts can
be left on the prayer board and are includaj in Sunday PTayers.
The ministers me¢1 and pray with individuals as requested arf on ￿£as1o0 make referrals such as lo the
FoodbanK adult social services and emergency hous
The governors of Churchill School and Priest in Charge offer pmstoral support to staff and pupils. The
Hosey T￿￿t continued to make inth'vidual grants to meet the needs of Current and past pupils up to the age
of 25.

The clergy visit the bereaved aFJd take fill*rals- both in the chU￿h and at l(Kal crematoria. This year has
se¢n slightly fewer funerals and memorial services in Churc￿ comwed to 2022. but more burials of ￿he5.
We also conduct funerals at crematoria and cemeteries, but these are not rco)rdcd in the service re￿Sters.
The Pastoral Care Team h&8 been very active. providing spiritual sup￿¢ prayer and distributing
communion to th0￿ from our con8r¢gations who are unable to attend church services duc to ill health.
The Priest in Charge is also a trus*e foi the Westerham Almshouse Chan'ty. providing accommodation for
persons in need.
The PCC suptM)rts the local Westerham FoodbanK with a fidl-time collection ￿int in the church and
various memixrs, including one of the ministers. actively involved The HaTvest seTvices. for the sch(x)l and
parish, collcctcd lots of donations for the fO(￿bank.
The church also ￿VeS away ￿ or all of the offering ￿ certain services, such as Remembrance Day,
Christingl¢ and during iznL and makes other appeals in res￿nse lo events tn the wider world.
To traDJform unjust structures of Society, to ch#llenge violeD¢e of every kind and pursue peace and
reconciliation
Through preaching. being a Fairtrade Church and sup￿rtIng charities to make the world a faI￿r place, we
work towards this mark. A successful fuThlratsing concert for Ukraine was held in the church. organised by
members of the wider community. and Porchli8ht was SUPPK)rted via collections in Lent.
We a150 hold some ￿h1¢81 inv¢stm¢nts.
To strive to safeguard the Integrity of ereation. aDd Just*iD aDd renew the life of the earth
The PCC cares for the churchyard and has undertaken re-wilth'ng ofsome areas. The liturgical season of
Creationtide is c£lebrated annually.
The Environm¢ntsl Group continued to guide and encourage our moves to live more in harniony with God's
Creation. We already have the Bronze Eco Church award and are actively working iowards 8ilver. Swift
boxes have been in5tall¢d in the tow¢r. Work has been done on developing a plan to be carlx)n neutral by
2030. Our electricity is ccrtified '￿en..
As part of ihe redecoration of the John Frith Room. LED lighting was instslled.
An environmental hand￿￿k is in prepwatio
Flnancial Review
Church activitics are funded by regular giving (mainly attrdcling gift aid), collections, donations, f¢es and
inv¢stm¢nt inwm¢. Total income for 2023 was £130,581 of which £50.517 was restricted funds. This
compares to total income for 2022 of £116,333 of which £52,984 was restricted furKls. Genera] fimd incom¢
in 2023 amountd to £80.016 compared with £63,349 in 2022.
Overall ¢xpKnditur¢ in 2023 was £189.767 of which £80,646 was reStri￿¢d funds, compared with £14,093 in
2022. General fund exFnditure was £106.962. compared with £95.293 in 2022. This was driven in part by
increasing prices arising from the cost-of-living crisi4 and in part related to the maintenance of ageing
heating systems and other equipmenL
Overall. th¢r¢ was a net deficit on general funds of £26.946 com￿red with a deficit in 2022 of £31.944.
St Mary's investment holdings (detaj'ls in note 3 of the financial ststements) in¢reas¢d in value by £58.616
during the year. Of this £34.640 related io restricted funds. £21.218 to desIg￿ted fund5 and £2.758 to the
general investment valu¢ reserve.

Reserves policy
Th¢ PCC h&s s¢t asid¢ reserves in designat&l funds for the following PUTPK)5es
Over the years the trend has been for the church's itiveslm¢nts lo have risen in value. This year we
have sold som¢ investhjents to fund running costs. which is nol a sustainable strategy in the medium
lo long tern] with reserves ideally us&1 onty for strale￿¢ invcstments. The PCC beIieves it is prudent
to maintsin a reserve against futurc f￿lS in investment Val￿ which aff likely to (￿Aur from time to
time. Accordingly. an inv¢slm¢nl value reserve cxists.
The main rhurch buildings of an age and type that perioth'(xlly major ryirs WAII be required.
St Mary's is fortunale that the Westerham HcTitage Tn￿( an independent charity. raises funds which
may be available when major r¢pirs arc Tequired However. the PCC reLXl8nises the need to retain a
r¢serve for contributing to such repirs.
The PCC believ¢s that work with children and youth is an importatrt of its mission. A reserve
has been estsblished to supwrt major initiatives in this field. The PCC resolved thai this should
contribirt¢ to ￿ Director of Music's salary, as pwrt of his remit is to eDgag¢ younger people.
Similarly. the PCC believes outreach both within the immeth'ale community and in the wider world is
part of St Mary's mission. A reserve has b¢¢n ¢sthblished to sUp￿rt future initiatives in this field and
again, some of the incomes from this contributes lo the Director of Music's salary.
Adminiqtrative infonnAtioD
St Mary's is situated ai the northeast corntt of The Green tn Westerham. the correspM)ndence address being
The Gr¢¢ry Westerham, Kent Tr116 IAS. The regis*r¢d ¢harity number is 1133994.
Details of those who have served &s members of the PCC between the 2023 APCM and the date of this
report are shown on page 2.
Payments to and giving by membert of the PCC
The total identified giving by m¢mkrs of the PCC. while members, totslled £7,335 excluding Gift Aid
recoverable.
Reimbursement of out-0f-￿ket expenses for the Priest in Charge totalled £673.83 for 2023.
Other Funds
These funds are sewdte trust funds administered by the PCC and do not apFar in the ￿coUnts.
Applications for grants can be made for S￿¢if1C use related to the purp)se of the fill￿$.
Westerham Church of England Reli￿Ou5 Education Fund is extsts to SUp￿>rt activities contributing to
r¢ligious education connected to St Mary's Church. Its ass¢ts at the year-end tots11￿ £29.981. 88. Th¢ Priest
in Charge and church wardens are the TnL8tees.
Westerharn Hosey Fund supw)rts pupils ond fomier pupils of Churchill Church of England Primary School
up to the age of 25. Its &gsets at the year-¢nd amounted 10 £47,371.04 but £1439.68 was paid by St Mary's in
grants and this sum is yet to be reclaimed. The Tn￿leeS are the Prlest in Charg¢. church wardens and two
nominated Tn￿tees.
Th¢ Ralph Fund ¢xists lo provi(k hclp io those in need in the pwish. It is managed by the Thi¢st in Charge and
church wardens. its assets at the Year-e[￿ totslled £11,211.18.
Si Mary's manages the North Downs Guild ofmusic fimd. Its assets ai theyear-end amounted to £147,957.54.

Independent Eraminer'j Report to the PCC of
St Mary the Virgin Parish Cburch Westerham
I r¢px)rt on the accounts of the PCC for the year ended 31° Dettmber 2023. which a￿ set out on subsequent
pages.
Respective ruponjibilities of the PCC and tbe IDdependeDt Examiner
As members of the PCC. you are resp)nsible for the pretmrntion of the accounts. You consider that an audit
is not required for this ycar under Sedion 14412) of the Charities Act 2011 ('the 201 l Act.) and that an
ind4Knd¢nt e￿aMinatiOn is need￿.
It is my Tesponsibility to
Examine the a¢¢ounts under Section 145 of the 2011 Act.
Follow the procedures laid down in the general directions given by the Charity Commissioners
under Seclion 145(5Xb) of the 2011 Act. and
stste wkther ￿￿cUlar matters have eomc to my attention.
Baslj of Independent Examlner'$ Report
My examination was carried out in accordance with the Gener￿ directions ￿Ven by the Charity Commission.
An examination includes a review of the accounting T￿OrdS ke￿ by the chan'ty and a cOM￿rIson of the
accounts presented with those records. It also includes considerntion of any unusual items or disclosures in
the accounts and sccking cxplanations from you as Trustees conc¢rning any such matt¢rs.
The procedures undertaken do not wovide all the evIde￿e that would k required in a fi￿] audit. and
consequently I do not express an audit opnion on the aLwun
Independent Examiner's Statement
In connection with my examinalion, no rnatters have come to my attention:
which give me reasonable cause to believe that in any material aspect the requirements
to ke¢p accounting records in acLordance with section 130 of the 2011 Act" OT
to prepare a¢¢ounts which with thcse accounting records have not I￿1 met. or
to which, in my Opinio￿ attention should be drawn in order lo enable a proper understanding of
¢ accounts to be reached.
Sign¢d..
Brian Downs
61 Croydon Road
Keston
BR2 6EH

ST MARY THE VIRGIN CHURCH, wL￿ERHAm
Balance sbtet at 3Jst Dttembtr 2023
Gentral
ROStr*t￿ Tolal
Totsl
2023
2022
FIXED ASSETS
30J23
274.238
3￿.779
695.340
681.724
CURRENT A￿ETs
Short tenn dewsits
1580
45236
47.816
51.235
Cash at bank and In h&
(3.9941
(2.112)
20,925
14.819
31.497
Amounts r￿e1Vable
16.280
16280
7,840
J4J66 (2.112)
66.161
7&915
)J72
CREDITORS (duc within l year)
Creditors
1636
1212)
{8481
(50.719)
NFf CURRE￿ ASSErs
14230
{2,112)
65.949
7&067
39.853
NET ASSETS
272,126 W728
773A17
773,977
Approved by the PCC on the 25th
8Dd signed
on its behalf by
David FOX-B

ST MARY THE VIRGIN CHURC￿ WESTERHAM
Notej to the Fi￿￿¢111 Statements
y¢ar endiD8 31st D￿nber 2023
G¢lleT*I Daign*ted Rejtrictsd
Fuud¥
Tothl
2023
Totsl 2022
Incomitti reJource4- PA8¢ 9
Voluntary income
Athiviti¢s for 8enerntin8 fijnds
In¢ome fr￿￿ 1nve5thle￿ts
Church activities
52.260
7.736
15.365
48
43,286
95,776
.736
22.414
85.872
2.271
21.709
7.049
182
8Q016
50J17
130.581
116J33
Resourcei ￿Pende11- PAgt lil
Church A¢tivities
Chur¢h runnin8 ex￿￿5
FundrAi8ing expendilure
Totsl resources expended
161,703)
143.056)
(1159)
{ 7451
{79.￿1)
164.607)
1122.957)
168.381)
{ 41.004)
(106.962)
12.1491
{ 80,646)
{ 189.7671
(109J85)
Ne¢ In¢•mitt8 reMTeei
26,9461
130.1291
Iq9.IR61
948
Net yi# M inve•tmeJ
2758
21318
M640
5&616 1 lJ8.V571
Net ￿￿eMent on fya
(24.1881
19,107
4Jii
157QI 181.1091
BalAnees bro¥gb¢ forw*rd
Bal*rt￿ urried forward
253 019
271126
452 216
4S727
773.977
773,4117
855 087
773,978
44.554

ST MARY THE VtRGtY CHURCH. WEsfERHAM
Notes to the Fina[￿la1 Statements year ending 31" December 2023
JNCOMING RESOURCES
Jeneral ￿ignated estricted idowmeD Total
Tot41
Funds
Funds
Funds
Funds
2023
2022
Voluntsry Income
'N P1arn￿d givinyjgifi
28,118
28,118 33,312
Income tsx r￿0Verable
,, Colleclions/EPO
Visitors and otheT giving
y Grants
DonatiOD5
Legacies
Choir and bell
rin
ers
6,832
4.590
6.262
5.709
3,760
42,372 30,965
5.837
2.021
4.590
5.661
1,236
5.837
48
41.136
2,150
2.150
1.720
52A42
48 43286
9S776 8U72
Activltles for Generatlon Fund$
,Fund￿'slng events
BL)okstsll
9.710
26
8,7JO
2259
26
12
9.IP)S
2371
22.414 21,709
22.414 2J,709
Income from Investments
Dividends and interest
Church A¢tlvilk4
F¢¢s for weddings and funerals
15,365
1SJ65
7.049
7,049
2.596
2.778
6.222
182
Sundry income
877
3.473
80,016
877
259
3.655
6,481
J30,58J 116J33
182
Total Incoming Rejoureej
50J17
io

Notes to the Financial Ststements year ending 31st
December 2023
General DejIg￿ Rejtrirt Endown
Jnent
FuDdJ
Totsl
Totsl
Fundj
Funds
Fund
2022
RESOTJRCES EXPENDED
Church Activities
Missionary and Charitsble giving
Outreach Expenses
Contribution to
dioce
Vicavs and Vicarage ex￿$¢5
Organ and Choir (incl bell funds)
Other costs
1201)
{ 159)
{4891
(45,851) (55.2891
(159)
(45.851)
(4.014)
(8,792) (2,￿￿1
13,0461
(4.014) 15,284)
(11.537) (7,1191
11 0461
(745)
Ihl.711Jl 12.159
174_51
{(iJ.6117J 10¥.38?
Cburcb Running Expenses
Parish otTice
Church cleaning
Staff remuneration
Insuran¢e
Heat and light
(4.351)
{ 7)
(10,315)
(4.798)
{ 4,351) (5.5241
(7)
{ 484)
(10.315) (11.8501
(4.798) (4,6451
(15.157) { 5,7401
15.157)
{ 8.428)
Repairs and
maintenanc
Churchyard
expenses
Repair Projects
(8.428) { 5,2051
(8,154)
(8.154) (7.5571
",471
143.056
j79.9UI
{IZLY57) 14'.UUJ}
Other resources expended
Fundraising and bookstall
Total resources expended
2.21131
118('.7CI711 :.:11).-31171
11116 ()621 1 ? 1 591 Itlll.()4()1
li

Notes to the Financial Statements
For the year ended 31° December 2023
Accounting policies
a) The financial statements have be¢n pre￿red under th¢ Cbariti¢s Act 2011 and in a¢¢ordance with the
Church Accounting Regulations 2{K￿ together with FRS 102 and Ststement of Recommended Practic¢
'Accountiog and Rewrting by Charities,. The ststements bave been pr¢Fwed under the historical cost
C4)nvention except for the Val￿ of investmenl assets whj'ch are slK)wn & fair value. Tly are prepwed on t
going concern IMsi5. Incoming resourc¢s are included when re¢¢ivabl¢. Liabilili¢s are re￿gM$Cd when the
obligation arises
b) The funds held comwise
unrestricted funds representing the Tonaining iWA)me funds of the ¢hur¢h together with fimds
designated by the PCC for particular FXErp)ses'
restricted funds comprising endowin¢nt fimds that must be retsined as church capitsl and income
funds w￿.Ch can only be spent on restricted PUTPOS¢S.
c) Consecrated and benefic¢d property of any kind is not inclu&d in the financial slaiements in accordanc¢
with the Cl)arities Act 2011. Th's i￿ludeS all fixtures and fittings in the church builth'ngs.
d) Investments are valued al market value as at 31° De￿M￿r 2023.
Prlegt In Chgrge •tipend and parbh offer
The Priest in Charge's stI￿d and ￿lOrt ¢osl are pid by the Diocese of Roches*r. The diocese also incurs
oth¢r costs which are tK)rne by pwishes through a ¢harg¢ traditionally known as 'parish share,. This includes
a share of the overall cost of nmning the th'o¢¢se and wvith'ng s¢rvi¢¢s s￿h &8 legal advice. of supw)rting
ministry in parish¢s that cannot Fwy the fi￿] of their ministers. of mission xtivity across the dioce￿.
From 2015 the Diocese of Rochester introduced a new sys*m whereby parishes made an annuaj 'offeV to
cover all these costs. St Mary's offer for 2023 was £45,775. This covered cost of h&ving a full-time minister
in the benefice but did not contribule towards the wider mission of th¢ th'oc¢s¢. Tr PCC resolved to increase
the offer if funds LK¢ame available but they th'd nol.
12

ST MARY THE VIRGIN CHURCH. WESTERHAM
Notes to the FinADcial Ststements
For the year ended 31° December 21n3
Investments
The main Church. Churchyard 8nd NDG inv￿tmCnts are held in CBF Invcsthienl Fund shares. The gainlloss
on revaluation of the Church holdj'ng h&8 been allocated to the various funds (cndowment. designated and
general) according to th¢ rel8tt.ve FrO￿rtionS ofthose funds. Th¢ investments in M&G Charifund are all
allocatcd to general funds.
CBF CBF shAreJ
North Downi
Churthyard Gufrld of Muiic
M&G
TotAI
Va]ue on 31* De¢•nb
2022
Sold durin
456,187
81,432
110.975
33.131
681,724
411.187
81.432
110.975
33.131
6￿724
Gain ¢ffi Valuati￿ durinB
2023
Vaiue it 3181 D¢wnber
2023
10.532
45
19
89.160
121.507
69
13

ST MARYTHE VIRGIN CHURCH, WESTERHAM
Notes to the Finaneial Ststemellts
For the year ended 31° December 2023
Funds
Th¢ movements in indivtthwl fiumjs in the year are shown bclow
Forward Income
2022
Eipendithre CainllAMJ Tranrfer
At end 2023
Restrithd fun
Church endowment 163,732
Churchyard
endowment
81,432
NDG endowment
110.975
Legacies
25,000
B¢llringcrs
2.524
Choir
1239
Churchyard
Deposits
North Dowms Guild
cash
16,379
7.729
180.111
89.161
10,532
121.507
25,000
3,054
2,114
16,783
1220
930
1690)
(55)
(8,154)
15.825
9,112
22.373
4,076
35.178
SOJ16
26,449
ir
ects
29.117
452316
1811,eJ46)
456.726
Designated funds
Investment value
reserve
Major repairs
Children and youth 37.5(MJ
Outreach
40,(X)O
253,019
6&742
135.519
13.557
149.076
39,909
40.287
42.854
272,126
44.554
36
12
I I.(KKII
3,751
4.(M)I
21318
1758
General fund
016
(106,962)
Total
773977 130J80 1 IllJ(.767J
16
773,406
14

ST MAR.. THE VIRGIN CHURC￿ WESTERHAM
Notes to the Fin8neial StstemeDts
For the yesr ended 31" December 2023
The endowment funds reprcsent sums held as capital for the resp￿tsVe pUr￿seS. The other fimds ¢omprise
incom¢ less eX￿ndItUre incurred for the SEKcifi¢d purp)ses. Of these, EPO funds are those collected
specifically to donat¢ to lArio￿8 charities.
Going CoDcern
The PCC agreed that the financwl statements should be pr¢EWT￿ on the going concern b&8is. Il was note
however, that income levels remain lower than pre-covid while costs have risen. Plarn￿d giving has continued
to drop as has collections, although the latter might be explained in prt by incre8s&l use of the ¢ard rthr.
For most of the year. the p)sition of Treasurer was vacant which limi*d the PCC'S 8bility to ￿Spond and plan
to a challenging financial situation. High energy priccs and inflation meant that it was necessary to draw ol)
investments to meet numing costs, with a net deficit in the general fund broadly in line with that budgeted-
for. Although tFrr¢ are substantial investments. drawing on tIKse to ￿Ver shortfalls reduLYs the financial
sustainability of the parish acioss time.
A concerted effort has been made by the PCC to increase fundraising income and this resulted in fundraisin8
actlVTties eaming more in 2023 than 2022 This will continue to be on in the future with a commitment
by the PCC to prepare a clear income generation strategy. as will OPFK)rtunities to attract grani funding thal
incorporates indirect costs. Incr¢as¢d fiumlraising activities. thc eff¢¢ts of the new lighting scheme. hire of ihe
John Frith Room and a reduction in energy supply costs from OctolKr have help%d to mitigate some costs.
15