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← The Parochial Church Council Of The Ecclesiastical Parish Of Ferndown

2023-12-31-accounts

Charity Registration No. 1134028

FERNDOWN PAROCHIAL CHURCH COUNCIL

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

10 Bridge Street Christchurch Dorset BH23 1EF

FERNDOWN PAROCHIAL CHURCH COUNCIL

CONTENTS

Page
Charity informaton 1
Trustees' report 2 - 9
Independent examiner's report 10
Statement of fnancial actvites 11 - 12
Balance sheet 13
Statement of cash fows 14
Notes to the fnancial statements 15 - 33

FERNDOWN PAROCHIAL CHURCH COUNCIL

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

D Howshall Rev P Chabala Mrs Diane French Mrs Sarah Collins Mr Alan Field Mr Michael Raven (Appointed 16 May 2023) Rev Oliver Fricker Mrs Vera Waters Mr Barry Robertson Mr Simon Wagstaff (Appointed 16 September 2023) Mrs Suzanne Sanderson (Appointed 16 September 2023) Mr David Jobbins (Appointed 16 September 2023) Rev Dominic Meering (Appointed 1 September 2023)

Charity number 1134028

Principal address

St Marys Church Hall Church Road Ferndown Dorset United Kingdom BH22 9EU

Independent examiner

TC Group 10 Bridge Street Christchurch Dorset BH23 1EF

FERNDOWN PAROCHIAL CHURCH COUNCIL

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their report and financial statements for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: 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)” (as amended for accounting periods commencing from 1 January 2016) and the Church Accounting Regulations 2006.

Objectives and activities

Status

St Mary's is the local 'Church of England' church, led and managed by the Parochial Church Council (PCC) which in turn is chaired by the incumbent of the church, Rev Dominic Meering. The PCC is given a mandate to further the work of the mission of the church in its worship and witness. Our stated aim is 'Transformation through Jesus'. This is done in many ways, some of which are described in the following pages.

Vision Statement: Transformation through Jesus

St Mary's can best be described as a family rather than an organisation, and as such, its aim and objectives are really relational. The Trustees have identified ten values which underpin our work and method of operation which reflect this:

Encountering Jesus, Celebration: a worshipping people, Kingdom Living; People of Faith; People of the Word and Spirit; Praying People; Equipping the Saints; Relational: Loving and Serving People; People Set Free. These values recognise our core objectives of growing and encouraging those who belong to St Mary's, equipping them to live the Christian life day to day, and reaching out with the Good News and love of Jesus to our community in a desire to demonstrate the goodness of God. These are still well summarised by the following three aims:

  1. To be rooted in Jesus through worship, prayer, bible study, small groups, and public worship that is offered in a variety of styles.

  2. Growing up to maturity in Jesus through discipleship, pursuing the Presence of God, service, sacrificial giving, and leadership development.

  3. Reaching Out with Jesus through our welcome and witness. The quality of our love, care and relationships is key to extending God's Kingdom in this locality. We believe that the Good News of Jesus is good news for everyone, and that in Him all the solutions to the deepest needs of humanity can be found and so we intentionally share Him.

  4. 2 -

FERNDOWN PAROCHIAL CHURCH COUNCIL

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Public Benefit

Throughout this report we have illustrated the impact we are having on the local community. We exist to benefit the wider community but a by-product of this objective is that we benefit those that join us and are gathered in to the Church who in turn multiply the impact on the wider public. The PCC have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. The following information demonstrates this duty and measurement of impact as a proactive part of managing the Charity.

The trustees regularly review our aims, objectives and activities of the charity and communicate this to the PCC body as a whole at least on an annual basis. The trustees have considered the Charity Commission's general guidance on public benefit and its supplementary guidance on the advancement of religion for the public benefit.

Volunteers

Unpaid volunteers contribute a large amount in terms of time to the work of the PCC, including working in the office, cafe, church services, childrens work and visiting. The value of this time is considered too hard to quantify and not included as income in the charity accounts.

FERNDOWN PAROCHIAL CHURCH COUNCIL

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance

St Mary’s Church Ferndown is called to be a community of people who know and love Jesus, and to follow his purposes for us in Ferndown in each season.

Above all, we are a community of believers seeking to worship Jesus as Lord, who died on the cross and rose from the dead, and receive his offer of forgiveness and invitation into a life filled with every spiritual blessing. We are a community seeking to serve and bless each other and those around us in the name of Jesus.

St Mary’s Church and site includes a place of Christian worship, built circa 1933, a church Hall, and a suite of function rooms, offices, and a vibrant café which serves the local community.

In September 2023, I was licensed as Team Rector of All Saint’s Hampreston & Stapehill, and St Mary’s, Ferndown. I have joined a team consisting of two other licensed clergy, five paid staff, church officers, and large number of lay volunteers.

The current activity of the church, cantered around the person and call of Jesus, could be described as falling under the following twelve broad and overlapping areas. For each area a precis and non-exhaustive precis of activity and function is given below:

FERNDOWN PAROCHIAL CHURCH COUNCIL

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

Dom Meering

Team Rector

Financial review

Year 2023 we produced a balanced budget and we have managed to achieve this with a lot of commitment from many members of our Church and we are incredibly grateful for their efforts. We were also blessed with a legacy that has put us in a surplus position. The self-funding ministries e.g. Men’s group, Women’s group, and Open Doors that we tried out in 2023 are working well and will continue into 2024.

Due to the sales in the café causing confusion on the income line of the accounts we have in 2024 split the Café from the Church for budgeting purposes but it is still regarded as a ministry of our church and any surplus money that maybe made will be used for the church in furthering its overall ministry.

The Hall refurbishment is still ongoing and is financed using the Beacon Project money and we should complete the project by the end of 2024 or early 2025.

The Café refit was completed in May 2023 and financed by a legacy for that purpose and now only leaves the till replacement in 2024 that is being looked at.

In summary we are in a much better financial position at the end of 2023 than recent years.

FERNDOWN PAROCHIAL CHURCH COUNCIL

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

Reserve Policy

Reserves have been agreed at a minimum of the equivalent to one months expenditure. The amount will vary from year to year, dependent on the level of expenditure at that time. The purpose of the reserve is to ensure that the church can meet its obligations to staff, the Diocese and other general day to day expenses. The trustees are in support of this decision.

Amount of total funds held £118,165 at the balance sheet date.

Amount of £24,421 restricted funds as detailed in note 15.

Designated Funds have been identified for the following:

Capital – 1% of our income is transferred into the capital fund for use on projects at the PCC’s discretion. Men’s group – this is a self-funding ministry providing various activities aimed at Men.

Women’s group – works in a similar way to the Men’s group.

Ukraine – this group has obtained small grants to enable them to provide support to Ukrainian refugees who have been placed in our local area.

ECO Group – self funding group who promote an environmentally friendly ethos throughout the church and look at improving the church's environmental impact.

Open Doors – self funding ministry group aimed at older people and others providing a short service, light refreshments and company of the group.

Free Reserves currently stand at £61,947 which is approximately £14,000 above the amount agreed in the reserve policy. The trustees are currently investigating possible future uses for the additional reserve funds, such as:

FERNDOWN PAROCHIAL CHURCH COUNCIL

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

Risk assessment

All adults working with children have been cleared with the DBS (formerly CRB) or their forms are being processed at the moment. We have a new Parish Safeguarding Representative who is working closely with those involved in working with vulnerable adults to ensure that they also have the relevant DBS checks. We now have a list of authorised First Aiders who are regular church members to cover the main acts of public worship on Sundays and many of our mid-week ministries. In 2016 we installed a defibrillator as a public service and a number of church members have been trained in its proper use. Risk Assessment issues are addressed at the monthly PCC meetings or its Standing Committee, and appropriate action or precautions are put in place depending on the level of risk.

In connection with the building fabric and premises during the year, the following aspects have duly been undertaken.

The Café had an Environmental Health Inspection and received a 5* rating.

Financial controls

Invoices are authorised and signed by two members of the finance team if over the £1,000 threshold. Under £1,000 only one member needs to authorise the invoices. The Treasurer pays all payments and the Finance Administrator counter signs all payments except Direct Debits/Standing Orders as they are ongoing.

The Finance Administrator makes reconciliations monthly, and the reports produced by the Treasurer for the PCC showing Actual against Budget for the month and Year to date as well as the Balance of all Funds that sit outside of the budget.

FERNDOWN PAROCHIAL CHURCH COUNCIL

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

Structure, governance and management

The PCC is the legal entity that is responsible for the leadership of the church. It works within the Anglican framework provided by Salisbury Diocese. The PCC is made up of the Team Rector, Team Vicar, Church Wardens, Assistant Curate and other elected lay members of the church, each heading up a department or sphere of church life.

The Annual Meeting of Parishioners and Annual Parochial Church Meeting (for church members) give a natural place for any issue to be openly discussed, and gives the legal framework for the election of Church Wardens and lay members who serve on the PCC.

The PCC meets monthly to oversee different activities and, where possible, discerns those whom God is calling to serve in the various "heads of department" roles such as mission, children's work, outreach, finance, fabric and the Beacon Project etc. Having been elected at the Annual Meetings (see above) they then have a duty to report back to the PCC and keep it informed as to how they manage the responsibilities, including budgets, delegated to them. With regard to finances, the PCC decides on the salaries of their employees, and also on the charges for letting out our premises. As a PCC our decision-making is fairly unusual in so far as changes are only made where unanimity is reached at the meetings.

Day to day management of the Church takes place through a variety of means, but especially through the ministries of its appointed leaders: the Team Rector, Team Vicar, Assistant Curate (when one is in place), Church Wardens, Church Secretary, Children's and Families Pastor, Worship and Youth Pastor and Treasurer. We have a Café Manager overseeing the work of the Beacon Café.

The Trustees of the Charity are identical to the members of the Parochial Church Council (PCC). There are presently 16 positions on the PCC, including Rector, Associate Minister, two Church Wardens, Treasurer, Secretary, and 'heads of department' for various spheres of Christian Ministry in the Church.

The trustees who served during the year and up to the date of signature of the financial statements were: D Howshall M Orman (Resigned 16 May 2023) Rev P Chabala O Chappell (Resigned 31 December 2023) Mrs Diane French Mrs Sarah Collins Mr Alan Field Mr Michael Raven (Appointed 16 May 2023) Rev Oliver Fricker Mrs Vera Waters Mr Ryan Baldwin (Resigned 16 May 2023) Mr Barry Robertson Mr Simon Wagstaff (Appointed 16 September 2023) Mrs Suzanne Sanderson (Appointed 16 September 2023) Mr David Jobbins (Appointed 16 September 2023) Rev Dominic Meering (Appointed 1 September 2023)

FERNDOWN PAROCHIAL CHURCH COUNCIL

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

Individuals with particular gifts and passions are approached and asked to consider standing, but then elections are held at the APCM, where others could stand against them. The appointed trustees are deemed to possess the appropriate abilities and experience required. From 2017 all Trustees will be DBS checked, and the recently agreed Safer Recruitment process will be used in recruitment of new Trustees. All trustees are considered to be highly experienced and skilled individuals. Training is provided where necessary.

Key management personnel

S Michelo - Cafe manager from 01/10/2022

The trustees' report was approved by the Board of Trustees.

Rev Dominic Meering

Trustee Dated: 18 June 2024

FERNDOWN PAROCHIAL CHURCH COUNCIL

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF FERNDOWN PAROCHIAL CHURCH COUNCIL

I report to the trustees on my examination of the financial statements of Ferndown Parochial Church Council (the charity) for the year ended 31 December 2023.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants (ACCA), which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

James Paget FCCA

TC Group

10 Bridge Street Christchurch Dorset BH23 1EF

Dated: 18 June 2024

Total 2022 £ 306,934 143,236 111 450,281 486,540 (36,259)
Restricted funds 2022 £ 8,525 - - 8,525 10,547 (2,022)
Total Unrestricted Unrestricted funds
funds		 general
designated		 2023
2022
2022		 £
£
£		 337,452
288,349
10,060		 193,640
129,701
13,535		 258
111
-		 531,350
418,161
23,595		 514,679
429,405
46,588		 16,671
(11,244)
(22,993)
Restricted funds 2023 £ 16,849 3,040 27 19,916 16,098 3,818
Unrestricted Unrestricted funds
funds		 general
designated		 2023
2023		 £
£		 293,107
27,496		 182,211
8,389		 231
-		 475,549
35,885		 447,704
50,877		 27,845
(14,992)
Notes 3 4 5 6
Income from: Donatons and legacies Charitable actvites Investments Total income Expenditure on: Charitable actvites Net incoming/(outgoing) resources before transfers
(36,259) - (36,259) 137,753 101,494
(2,022) - (2,022) 22,969 20,947
(22,993) - (22,993) 45,374 22,381
(11,244) - (11,244) 69,410 58,166
16,671 - 16,671 101,494 118,165
3,818 (344) 3,474 20,947 24,421
Net incoming/(outgoing) resources before transfers
27,845
(14,992)		 Gross transfers between funds
(22,087)
22,431		 Net income/(expenditure) for the year/ Net movement in funds
5,758
7,439		 Fund balances at 1 January 2023
58,166
22,381		 Fund balances at 31 December 2023
63,924
29,820		 The statement of fnancial actvites includes all gains and losses recognised in the year. All income and expenditure derive from contnuing actvites.

FERNDOWN PAROCHIAL CHURCH COUNCIL

BALANCE SHEET

AS AT 31 DECEMBER 2023

Notes
Fixed assets
Tangible assets
11
Current assets
Stocks
12
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Total assets less current liabilites
Income funds
Restricted funds
15
Unrestricted funds - designated
16
Unrestricted funds - general		 2023
£
1,600
18,478
120,292
140,370
(24,182)		 £
1,977
116,188
118,165
24,421
29,820
63,924
118,165		 2022
£
1,600
11,999
113,615
127,214
(29,675)		 £
3,955
97,539
101,494
20,947
22,381
58,166
101,494

The financial statements were approved by the Trustees on 18 June 2024

Mr Barry Robertson Trustee

Rev Dominic Meering Trustee

FERNDOWN PAROCHIAL CHURCH COUNCIL

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2023

Notes
Cash fows from operatng actvites
Cash generated from/(absorbed by)
operatons
20
Investng actvites
Interest received
Net cash generated from investng
actvites
Net cash used in fnancing actvites
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
258		 £
6,419
258
-
6,677
113,615
120,292		 2022
£
111		 £
(19,629)
111
-
(19,518)
133,133
113,615

FERNDOWN PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Charity information

St Mary's is the local 'Church of England' church in Ferndown, Dorset, led and managed by the Parochial Church Council (PCC), the unincorporated registered UK charity, chaired by the incumbent of the church. The PCC is the legal entity that is responsible for the leadership of the church. It works within the Anglican framework provided by Salisbury Diocese.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: 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)” (as amended for accounting periods commencing from 1 January 2016) and the Church Accounting Regulations 2006. The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

FERNDOWN PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Donated services or facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. Donated fixed assets are recorded at fair value. The time of volunteers is not recognised.

Income from grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

VAT is charged on Cafe sales and food provided for venue hire and income derived from this is shown net of VAT.

1.5 Resources expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. VAT is claimable on vatable Cafe related expenditures.

FERNDOWN PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, repairs and maintenance costs, finance etc which supports the charity's activities. All support costs are deemed to relate to the charitable activity of the charity, any costs related to other income methods are deemed to be immaterial.

Governance costs are those support costs incurred to meet the statutory and constitutional requirements of the charity.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Other Fixtures, Fitngs & Ofce Equipment

Equipment used within the church premises is recorded at cost and depreciated on a straight-line basis over 4 years, apart from the digital organ which is depreciated over 10 years. Individual items of equipment with a purchase price of £5,000 or less are written off when the asset is acquired.

Freehold land is not depreciated.

Dedicated (not consecrated) land and buildings and movable church furnishings

No value is placed on moveable church furnishings held since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or benefice buildings and moveable church furnishings, whether maintenance or improvement is written off as expenditure in the SOFA and separately disclosed.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

FERNDOWN PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

FERNDOWN PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Total 2022 £ 301,934 5,000 306,934 635 43,730 17,568 202,814 679 32,671 2,016 1,821 301,934
Restricted funds 2022 £ 8,525 - 8,525 - - - 5,830 679 - 2,016 - 8,525
Total Unrestricted Unrestricted funds
funds		 general
designated		 2023
2022
2022		 £
£
£		 332,452
283,349
10,060		 5,000
5,000
-		 337,452
288,349
10,060		 95
635
-		 46,560
43,730
-		 20,921
17,568
-		 213,540
196,984
-		 678
-
-		 43,029
22,611
10,060		 7,629
-
-		 -
1,821
-		 332,452
283,349
10,060
Restricted funds 2023 £ 16,849 - 16,849 - - - 2,407 678 6,135 7,629 - 16,849
Unrestricted Unrestricted funds
funds		 general
designated		 2023
2023		 £
£		 288,107
27,496		 5,000
-		 293,107
27,496		 95
-		 46,560
-		 20,921
-		 201,167
9,966		 -
-		 19,364
17,530		 -
-		 -
-		 288,107
27,496
Donatons and legacies Donatons and gifs Employment allowance Donatons and gifs Envelope scheme Gif aid recoverable General church collectons Regular giving Harvest collectons Other donatons Christmas service collectons Other
3

FERNDOWN PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

4 Charitable activities

Charitable Charitable Actvites
Actvites
2023 2022
£ £
Cafe sales 133,470 104,944
Room hire 35,696 24,553
Other income - Youth work, weddings, funerals, groups & events 24,474 13,739
193,640 143,236
Analysis by fund
Unrestricted funds - general 182,211 129,701
Unrestricted funds - designated 8,389 13,535
Restricted funds 3,040 -
193,640 143,236

5 Investments

Unrestricted Restricted Total Unrestricted
funds funds funds
general general
2023 2023 2023 2022
£ £ £ £
Interest receivable 231 27 258 111
Total 2022 £ 112,726 1,978 210,505 7,969 10,516 24,286 3,195 7,495 1,919 1,103 2,240 383,932 41,441 57,769 3,398 486,540
Total 2023 £ 97,036 1,978 249,967 3,272 26,197 26,475 8,228 8,082 6,828 379 - 428,442 31,677 50,660 3,900 514,679
Other 2023 £ - 1,978 - 2,080 13 - - 8,082 6,828 379 - 19,360 - - - 19,360
Cafe 2023 £ 36,020 - 56,755 - 20,470 1,453 - - - - - 114,698 - - - 114,698
Church & grounds 2023 £ 1,435 - 23,642 - 1,983 24,584 8,228 - - - - 59,872 - - - 59,872
Children & youth work 2023 £ 24,223 - 3,504 - 1,883 - - - - - - 29,610 - - - 29,610
Ministry 2023 £ 35,358 - 166,066 1,192 1,848 438 - - - - - 204,902 31,677 50,660 3,900 291,139
Charitable actvites Staf costs Depreciaton and impairment Diocesan share/Children's expenses/Upkeep/Cost of sales/Bookstall Rector's/-/Refurbishment/-/Catering expenses Assoc' minister/Outreach/Grounds/Maintenance/Open Doors expenses Pastoral expenses/Beacon running/Card machine & internet/ Worship equipment Marriage prep Men's group Sundry The Grow Project Grant funding of actvites (see note 7) Share of support costs (see note 8) Share of governance costs (see note 8)
6
(Contnued) Total 2022 £ 429,405 46,588 10,547 486,540
Total 2023 £ 447,704 50,877 16,098 514,679
Other 2023 £ 12,420 6,940 - 19,360
Cafe 2023 £ 104,313 10,385 - 114,698
Church & grounds 2023 £ 41,359 6,338 12,175 59,872
Children & youth work 2023 £ 29,610 - - 29,610
Ministry 2023 £ 260,002 27,214 3,923 291,139
Charitable actvites Analysis by fund Unrestricted funds - general Unrestricted funds - designated Restricted funds
6
Other £ - 1,978 238 3,734 1,098 - - 7,495 1,919 1,103 2,240 19,805
Cafe £ 30,367 - 33,661 - 5,186 1,267 - - - - - 70,481
Church & grounds £ 14,452 - 13,699 3,228 814 22,572 3,195 - - - - 57,960
Children & youth work £ 33,599 - 2,483 - 2,258 - - - - - - 38,340
Charitable actvites For the year ended 31 December 2022 Ministry £ Staf costs
34,308		 Depreciaton and impairment
-		 Diocesan share/Children's expenses/Upkeep/Cost of sales/Bookstall
160,424		 Rector's/-/Refurbishment/-/ Catering expenses
1,007		 Assoc' minister/Outreach/ Grounds/Maintenance/Open Doors expenses
1,160		 Pastoral expenses/Beacon running/Card machine & internet/
447		 Worship equipment
-		 Marriage prep
-		 Men's group
-		 Sundry
-		 The Grow Project
-		 197,346
6
- - - 19,805 17,886 1,919 - 19,805
- - - 70,481 70,481 - - 70,481
- - - 57,960 44,185 3,228 10,547 57,960
- - - 38,340 38,340 - - 38,340
41,441 57,769 3,398 299,954 258,513 41,441 - 299,954
Charitable actvites Grant funding of actvites (see note 7) Share of support costs (see note 8) Share of governance costs (see note 8) Analysis by fund Unrestricted funds - general Unrestricted funds - designated Restricted funds
6

FERNDOWN PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

7 Grants payable

Grants to insttutons:
Missionary commitee - tthe
Missionary donatons
Support costs
Support
costs
Governance
costs
£
£
Staf costs
37,013
-
Accountancy -
independent
examinaton
-
3,900
General ofce expenses
13,647
-
50,660
3,900
Analysed between
Charitable actvites
50,660
3,900		 Ministry
Ministry
2023
2022
£
£
27,813
29,104
3,864
12,337
31,677
41,441
2023Support costs Governance
costs
2022
£
£
£
£
37,013
49,824
-
49,824
3,900
-
3,398
3,398
13,647
7,945
-
7,945
54,560
57,769
3,398
61,167
54,560
57,769
3,398
61,167		 Ministry
Ministry
2023
2022
£
£
27,813
29,104
3,864
12,337
31,677
41,441
2023Support costs Governance
costs
2022
£
£
£
£
37,013
49,824
-
49,824
3,900
-
3,398
3,398
13,647
7,945
-
7,945
54,560
57,769
3,398
61,167
54,560
57,769
3,398
61,167
2022
£
29,104
12,337
41,441
2022
£
49,824
3,398
7,945
61,167
61,167

8 Support costs

9 Trustees

R Baldwin, trustee (Resigned on 16/05/2023) , was paid £20,047 (2022: £28,050) gross salary and £607 (2022: £872) employer pension for his role as children's worker and for cleaning services. M Orman, trustee (Resigned on 16/05/2023), was paid £31,263 (2022: £30,263) gross salary and £1,001 (2022: £961) employer pension for his role as Pastor.

Trustees' expenses

Expenses of £11,696 were refunded to 11 trustees (2022: £3,300 to 8 trustees) in the year, for travel, stationery, books, repairs, equipment and other general expenses incurred on church related activities in the year.

FERNDOWN PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

10 Employees

Number of employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries		 2023
Number
8
2023
£
134,049		 2022
Number
6
2022
£
162,550

No employees received total employee benefits (excluding employer pension costs) of more than £60,000.

11 Tangible fixed assets

Cost
At 1 January 2023
At 31 December 2023
Depreciaton and impairment
At 1 January 2023
Depreciaton charged in the year
At 31 December 2023
Carrying amount
At 31 December 2023
At 31 December 2022
12
Stocks
2023
£
Finished goods and goods for resale
1,600		 £
45,097
45,097
41,142
1,978
43,120
1,977
3,955
2022
£
1,600

FERNDOWN PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

13 Debtors

Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 2023
£
16,242
1,184
1,052
18,478		 2022
£
10,270
507
1,222
11,999

Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid after taking account of any discounts due.

14 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other taxaton and social security
Trade creditors
Other creditors
Accruals and deferred income		 2023
£
5,752
7,934
6,446
4,050
24,182		 2022
£
13,402
5,630
6,593
4,050
29,675

FERNDOWN PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

15 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at
1 January 2023

£
The Beacon Project
19,356
Christmas services fund
1,591
Harvest fund
-
Youth fund
-
Mission other - Turkey appeal
-
20,947		 Movement in funds
Incoming
resources
Resources
expended
£
£
2,407
(8,795)
8,927
(2,762)
678
(678)
3,040
-
4,864
(3,863)
19,916
(16,098)		 Transfers
Balance at
31 December 2023
£
£
(344)
12,624
-
7,756
-
-
-
3,040
-
1,001
(344)
24,421		 Transfers
Balance at
31 December 2023
£
£
(344)
12,624
-
7,756
-
-
-
3,040
-
1,001
(344)
24,421
24,421

Beacon Project

Funds to enhance the development and maintenance of the Beacon Complex which comprises of the Café, Hall, Foyer area, Beacon Room, Office, Venue 1, The Spring, Kitchen, Toilets and Storage Rooms.

Christmas Services Fund

An annual appeal for a specific cause agreed by the PCC, gifts are separate from the rest of the church giving, gifts go via the church bank accounts, but are given in their entirety to the chosen cause.

Harvest Fund

As per the Christmas fund.

Youth Fund

To be used for youth activities, groups and other needs related to youth within the church.

Mission Fund

This restricted fund is for special collections made for specific causes that are outside our regular Mission giving, usually to support a one off urgent need such as an earthquake appeal.

FERNDOWN PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

16 Unrestricted funds - designated

These are unrestricted funds which are material to the charity's activities made up as follows:

Balance at
1 January 2023

£
Mission fund
(29,606)
AV Fund
30,441
Quinquennial fund
175
Capital/refurbishment fund
17,232
Men's group
1,790
Women's group
338
Ukraine support group
1,730
ECO group
281
Open Doors
-
22,381		 Movement in funds
Incoming
resources
Resources
expended
Transfers
Balance at
31 December 2023
£
£
£
£
-
(27,213)
58,076
1,257
-
-
(30,441)
-
-
-
(175)
-
27,496
(15,502)
(4,594)
24,632
1,752
(1,550)
(435)
1,557
2,316
(1,430)
-
1,224
1,550
(3,100)
-
180
717
(866)
-
132
2,054
(1,216)
-
838
35,885
(50,877)
22,431
29,820		 Movement in funds
Incoming
resources
Resources
expended
Transfers
Balance at
31 December 2023
£
£
£
£
-
(27,213)
58,076
1,257
-
-
(30,441)
-
-
-
(175)
-
27,496
(15,502)
(4,594)
24,632
1,752
(1,550)
(435)
1,557
2,316
(1,430)
-
1,224
1,550
(3,100)
-
180
717
(866)
-
132
2,054
(1,216)
-
838
35,885
(50,877)
22,431
29,820
29,820

Mission

10% of our voluntary donations received is allocated to the Mission Fund, 90% of that amount is split between agreed Mission Partners and the residual amount is kept in the fund for the Mission Team to distribute as and when a specific need occurs.

Capital

1% of our income is transferred into the capital fund for use on projects at the PCC’s discretion.

Men’s group

This is a self-funding ministry providing various activities aimed at Men.

Women’s group

Works in a similar way to the Men’s group as a self-funding ministry providing various activities for Women.

Ukraine

This group has obtained small grants to enable them to provide support to Ukrainian refugees who have been placed in our local area.

ECO Group

Self funding group who promote an environmentally friendly ethos in throughout the church and look at improving the churches environmental impact.

Open Doors

Self funding ministry group aimed at older people and others providing a short service, light refreshments and company of the group.

Total 2022 £ 3,955 97,539 101,494
Restricted 2022 £ - 20,947 20,947
Designated 2022 £ - 22,381 22,381
Unrestricted General 2022 £ 3,955 54,211 58,166
Total 2023 £ 1,977 116,188 118,165
Restricted 2023 £ - 24,421 24,421
Designated 2023 £ - 29,820 29,820
Unrestricted General 2023 £ 1,977 61,947 63,924
Analysis of net assets between funds Fund balances at 31 December 2023 are represented by: Tangible assets Current assets/(liabilites)
17

FERNDOWN PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

18 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2023 2022
£ £
Between two and fve years 13,833 -

FERNDOWN PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

19 Related party transactions

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

Donatons from
2023
£
Enttes
with
control,
joint
control
or
signifcant infuence over the company
20,955
20,955
20
Cash generated from operatons
Surplus/(defcit) for the year
Adjustments for:
Investment income recognised in statement of fnancial actvites
Depreciaton and impairment of tangible fxed assets
Movements in working capital:
(Increase) in stocks
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Cash generated from/(absorbed by) operatons
21
Analysis of changes in net funds
The charity had no debt during the year.		 trustees
Diocese of Salisbury -
Diocesan Quota
2022
2023
2022
£
£
£
14,680
166,066
160,423
14,680
166,066
160,423
2023
2022
£
£
16,671
(36,259)
(258)
(111)
1,978
1,978
-
(62)
(6,479)
281
(5,493)
14,544
6,419
(19,629)		 trustees
Diocese of Salisbury -
Diocesan Quota
2022
2023
2022
£
£
£
14,680
166,066
160,423
14,680
166,066
160,423
2023
2022
£
£
16,671
(36,259)
(258)
(111)
1,978
1,978
-
(62)
(6,479)
281
(5,493)
14,544
6,419
(19,629)

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