## **PCC FINANCIAL STATEMENT FOR THE ANNUAL ACCOUNTS FOR THE YEAR ENDED 31.12.22**
The Parish of Holy Trinity and Christ Church has one Parochial Church Council which meets a minimum of 6 times a year. The Parish consists of 3 separate entities: the churches of Holy Trinity, Christ Church and the Parish Centre. Each has its own accounts but they are presented together for the purposes of the Annual Report and Financial Statements.
The Parish Treasurer, with the support of the PCC, receives and collates all financial information. A member of the Management Committee of the Parish Centre assists by dealing with the Income and Expenditure of the Parish Centre and also of Christ Church, which is then forwarded to the Treasurer.
The Accounts are presented in an Income and Expenditure format.
The Parish raised £319 for the Tear Fund Harvest Appeal, £85 at the Crocus Festival and £1,143 at the George Stephenson Day which were passed on to Hope House. The Christmas Appeal raised £297 for the Food Bank
## **Reserves Policy**
It is PCC policy to try to maintain a balance on free reserves (net current assets) which equates to at least three months unrestricted payments. For each entity these are as follows:
*Parish Centre: £11,255 Free reserves at year end: £61,391 Holy Trinity: £13,447 Free reserves at year end: £37,107 Christ Church: £2,975 Free reserves at year end: £6,100
This is a total of £27,677. It is held to smooth out fluctuations in cash flow and to meet emergencies. The balance of the free reserves at the year end was £104,598 which is higher than this target.
The balance of £16,198 in the restricted fund at Holy Trinity is held in a recoupment scheme by the Diocese of Derby.
*In addition provision is made for any redundancy payments which may become liable. This would currently be £4,232
## **INCOME and EXPENDITURE**
Income was higher by £26,700 in 2022 as the effects of the Covid pandemic receded. However, this was counterbalanced by the fact that Expenditure was £32,800 higher than in 2021, again largely because of the ending of Covid restrictions and the return to normal activities. This results in a Parish overspend of £27,500.
## **INCOME**
## **Holy Trinity**
Compared with 2021 Income was up by £8,000. £11,500 was received from grants and legacies.
## **Christ Church**
Income increased by £2,000 though tax efficient giving and other planned giving was down by £750.
## **Parish Centre**
Income went up by £17,000 with income from room hire increasing by £15,800.
## **EXPENDITURE**
## **Holy Trinity and CHRIST CHURCH**
Both churches paid the Common Fund in full, there was a greater emphasis on mission and evangelism activities and buildings were used more which had an effect on utility costs. Holy Trinity’s expenditure was up by £19,000 and Christ Church’s by £3,500.
## **Parish Centre**
Increased use of the centre was reflected in the running costs. Salary costs increased by £7,000. A pension scheme was introduced requiring payment of £2,500 in back pension dues. £20,000 was transferred from the CCLA investment account to cover shortfalls in Income v Expenditure.
**Maggie Masters Treasurer**
**PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY & CHRIST CHURCH, CHESTERFIELD**
## **STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 DECEMBER 2022**
|**Note**
2(a)
2(b)
2(c)
2(d)
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
3(a)
3(b)
3(c)
3(d)
**TOTAL RESOURCES EXPENDED**
**TRANSFERS BETWEEN FUNDS**
_Income from investments_
**INCOMING RESOURCES**
_Voluntary income_
_Activities for generating funds_
_Church and Parish Centre activities_
_Cost of generating funds_
_All mission giving and charitable grants and donations_
_Church and parish centre activities_
_Major capital expenditure_
**NET INCOMING/(OUTGOING) RESOURCES**
**NET MOVEMENT IN FUNDS**
**FUND BALANCES BROUGHT FORWARD**
**FUND BALANCES CARRIED FORWARD**|**Holy Trinity**
**General**
**£**
48,083.84
191.91
1,585.60
49,861.35
2,880.00
45,481.86
5,004.00
53,365.86
(3,504.51)
(3,504.51)
40,642.81
37,138.30|**Holy Trinity**
**Restricted**
**£**
210.29
210.29
210.29
210.29
15,988.66
16,198.95|**Christ Church**
**General**
**£**
7,512.81
983.70
8.13
1,590.21
10,094.85
11,081.38
1,050.00
12,131.38
(2,036.53)
(2,036.53)
7,523.84
5,487.31|**Parish Centre**
**General**
**£**
766.74
32,199.11
32,965.85
55,174.99
55,174.99
(22,209.14)
(22,209.14)
85,751.26
63,542.12|**2022**
**Total**
**£**
55,596.65
983.70
1,177.07
35,374.92
93,132.34
2,880.00
111,738.23
6,054.00
120,672.23
(27,539.89)
(27,539.89)
149,906.57
122,366.68|**2021**
**Total**
**£**
46,828.57
16,006.90
80.25
3,486.85|
|---|---|---|---|---|---|---|
|||||||66,402.57|
|||||||2,912.00
80,553.57
4,423.36|
|||||||87,888.93|
|||||||(21,486.36)|
|||||||(21,486.36)
171,392.93|
|||||||149,906.57|
Page 1 of 7
**PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY & CHRIST CHURCH, CHESTERFIELD**
## **BALANCE SHEET at 31 DECEMBER 2022**
|**Note**
4
5
**FIXED ASSETS**
Tangible fixed assets
Investment assets - held by Derby Diocese
**CURRENT ASSETS**
Cash at bank and in hand
**CREDITORS PAYABLE WITHIN ONE YEAR**
**NET CURRENT ASSETS**
**NET ASSETS**
**FUNDS**|**Holy Trinity**
**General**
**£**
37,138.30
37,138.30
37,138.30
37,138.30
37,138.30|**Holy Trinity**
**Restricted**
**£**
16,198.95
16,198.95
16,198.95
16,198.95|**Christ Church**
**General**
**£**
1,277.11
1,277.11
4,210.20
4,210.20
4,210.20
5,487.31
5,487.31|**Parish Centre**
**General**
**£**
2,029.04
2,029.04
61,513.08
61,513.08
61,513.08
63,542.12
63,542.12|**2022**
**Total**
**£**
3,306.15
16,198.95
19,505.10
102,861.58
102,861.58
102,861.58
122,366.68
122,366.68|**2021**
**Total**
**£**
3,673.50
15,988.66|
|---|---|---|---|---|---|---|
|||||||19,662.16|
|||||||130,244.41|
|||||||130,244.41|
|||||||130,244.41|
|||||||149,906.57|
|||||||149,906.57|
The Financial Statements were approved by the Parochial Church Council on DATE and are signed on its behalf by
**Rev Jill Hancock, Chair of the Parochial Church Council**
Page 2 of 7
**PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY & CHRIST CHURCH, CHESTERFIELD NOTES TO THE ACCOUNTS for the year ended 31 DECEMBER 2022**
## **1 ACCOUNTING POLICIES**
## **a. Basis of accounting**
The financial statements have been prepared under the Church Accounting Regulations 2006 in accordance with applicable accounting standards and the current Statement of Recommended Practice Accounting and Reporting by Charities (SORP 2015).
The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value. The financial statements include all transactions and fixed assets of the PCC but excluding debtors and creditors as the financial statements are prepared on a cash accounting basis. They do not include the accounts of church groups that owe their affiliation to another body, nor those that are informal gatherings of church members.
## **b. Funds**
General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application to the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted.
- **c. Incoming resources**
Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under Gift Aid is recognised only when received.
Income tax recoverable on Gift Aid donations is recognised when the income is recognised. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable, and its ultimate receipt by the PCC is reasonably certain.
Income from the letting of church premises is recognised when the income is received.
Interest entitlements are accounted for when credited. Tax recoverable on such income is recognised in the same accounting year.
Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at 31 December.
## **d. Resources expended**
Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC. The diocesan parish share is accounted for when paid.
- **e.**
## **Fixed assets**
Consecrated and benefice property is not included in the accounts in accordance with s.10(2)(a) and (c) of the Charities Act 2011. Moveable church furnishings held by the Vicar and Churchwardens on special trust for the PCC and which require a faculty for disposal are accounted as inalienable property unless consecrated. They are listed in the Church's Inventory. For inalienable property acquired prior to 2001 there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired since 1January 2001 have been capitalised to be depreciated in the accounts over their currently anticipated useful economic life on a straight-line basis. All expenditure incurred in the year on consecrated or beneficed buildings, individual items under £1,000 or on the repair of movable church furnishings is written off. From 1 January 2003 other equipment is depreciated on a straight line basis over 4 years. Individual items of equipment with a cost of £1,000 or less are written off when the asset is acquired.
## **f. Investments**
Investments are valued at market value at 31 December.
## **g. Current assets**
Amounts owing to the PCC at 31 December are not shown as debtors as income is reflected on a cash basis.
Page 3 of 7
**PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY & CHRIST CHURCH, CHESTERFIELD NOTES TO THE ACCOUNTS for the year ended 31 DECEMBER 2022**
|**2**
2(a)
Non-recurring giving (inc special appeals)
Tax recovered through gift aid
Recurring grants and legacies
Non-recurring grants and legacies
2(b)
2(c)
2(d)
VAT recovered
_Activities for generating funds_
**INCOMING RESOURCES**
_Voluntary income_
Planned giving:
Tax efficient giving
Other planned giving
Other collections at services
Income from fundraising activities
_Income from investments_
Dividends
Interest
_Church and Parish Centre activities_
Statutory fees retained by the PCC
Income from trading
Other incoming resources inc. net agency receipts|**Holy Trinity**
**General**
**£**
24,251.00
3,083.39
1,804.43
1,165.00
6,280.02
11,500.00
48,083.84
191.91
191.91
1,364.00
221.60
1,585.60|**Holy Trinity**
**Restricted**
**£**
210.29
210.29|**Christ Church**
**General**
**£**
2,718.88
1,569.60
371.03
1,340.00
1,378.30
135.00
7,512.81
983.70
983.70
8.13
8.13
1,216.00
109.21
265.00
1,590.21|**Parish Centre**
**General**
**£**
766.74
766.74
31,843.46
355.65
32,199.11|**2022**
**Total**
**£**
26,969.88
4,652.99
2,175.46
2,505.00
7,658.32
135.00
11,500.00
55,596.65
983.70
983.70
1,177.07
1,177.07
2,580.00
32,174.27
620.65
35,374.92|**2021**
**Total**
**£**
30,371.03
5,353.65
2,257.85
8,367.04
135.00
344.00|
|---|---|---|---|---|---|---|
|||||||46,828.57|
|||||||16,006.90|
|||||||16,006.90|
|||||||80.25|
|||||||80.25|
|||||||3,234.00
252.85|
|||||||3,486.85|
Page 4 of 7
**PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY & CHRIST CHURCH, CHESTERFIELD NOTES TO THE ACCOUNTS for the year ended 31 DECEMBER 2022**
|**3**
3(a)
3(b)
3(c)
Parish share paid to Diocese
Salaries/honoraria/fees/clergy expenses
Expenses and administration
Mission and evangelism costs
Church running expenses
Church utility bills
Governance costs
Other outgoing resources inc. net agency payments
3(d)
_Major capital expenditure_
Major repairs to church building inc decoration
New building work
**RESOURCES USED**
_Cost of generating funds_
Cost of activities and events
_All mission giving and charitable grants and donations_
Grants and donations
_Church and parish centre activities_
Costs of trading|**Holy Trinity**
**General**
**£**
2,880.00
2,880.00
28,074.40
161.52
155.95
1,129.52
12,511.00
2,312.02
837.45
300.00
45,481.86
5,004.00
5,004.00|**Holy Trinity**
**Restricted**
**£**|**Christ Church**
**General**
**£**
7,018.60
122.88
141.90
102.40
3,220.08
175.52
300.00
11,081.38
1,050.00
1,050.00|**Parish Centre**
**General**
**£**
34,598.26
225.45
8,718.29
10,491.99
816.00
300.00
25.00
55,174.99|**2022**
**Total**
**£**
2,880.00
2,880.00
35,093.00
34,882.66
523.30
1,231.92
24,449.37
12,804.01
1,828.97
900.00
25.00
111,738.23
6,054.00
6,054.00|**2021**
**Total**
**£**|
|---|---|---|---|---|---|---|
||||||||
|||||||2,912.00|
|||||||2,912.00|
|||||||17,323.50
27,973.84
752.37
419.63
23,390.62
7,993.70
739.07
935.00
1,025.84|
|||||||80,553.57|
|||||||4,423.36|
|||||||4,423.36|
Page 5 of 7
**PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY & CHRIST CHURCH, CHESTERFIELD NOTES TO THE ACCOUNTS for the year ended 31 DECEMBER 2022**
|**Office**
**Equipment**
**£**
**4**
22,192.41
Disposals during the year
22,192.41
19,575.89
261.65
Depreciation disposal during the year
19,837.54
Net Book Value at 31st December 2022
2,354.87
**5**
**HOLY TRINITY - RESTRICTED FUND INVESTMENT ASSETS**
Held by Derby Diocesan Board of Finance as Custodian Trustee
Darwin Avenue proceeds
Cost at 1st January 2022
**FIXED ASSETS**
Additions during the year
Cost at 31st December 2022
Depreciation at 1st January 2022
Depreciation Charge for the year
Depreciation at 31st December 2022|**Computer**
**Equipment**
**£**
41,323.99
41,323.99
41,323.99
41,323.99
-|**Kitchen**
**Equipment**
**£**
3,847.63
3,847.63
2,790.65
105.70
2,896.35
951.28|**Cleaning**
**Equipment**
**£**
614.91
614.91
614.91
614.91
-|**Furnishings**
**£**
50.00
50.00
50.00
50.00
-|**2022**
**Total**
**£**
68,028.94
68,028.94
64,355.44
367.35
64,722.79
3,306.15
**£**
16,198.95
16,198.95|**2021**
**Total**
**£**
68,028.94|
|---|---|---|---|---|---|---|
|||||||68,028.94|
|||||||63,947.27
408.17|
|||||||64,355.44|
|||||||3,673.50|
|||||||**£**
15,988.66|
|||||||15,988.66|
Page 6 of 7
**PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY & CHRIST CHURCH, CHESTERFIELD NOTES TO THE ACCOUNTS for the year ended 31 DECEMBER 2022**
|**STAFF COSTS**
Wages, salaries and national insurance
Average number of employees|**2022**
**Total**
34,598.26
5|**2021**
**Total**
27,545.35|
|---|---|---|
|||5|
## **6 STAFF COSTS**
## **7 RELATED PARTY TRANSACTIONS**
Payments were made to members of the Parochial Church Council to reimburse expenditure - where evidenced by receipts - incurred on behalf of, and with the prior authority of, the Parochial Church Council. Where such payments are made, the Parochial Church Council and Parish Centre Management Committee are satisfied that the charges are at market rates or below and they are satisfied that they could not have obtained better rates.
Page 7 of 7
Parish of Holy Trinity and Christ Church, Chesterfield
Annual Report and Financial Statements
of the Parochial Church Council
for the year ended 31st December 2022
PAROCHIAL CHURCH COUNCIL OF
HOLY TRINITY AND CHRIST CHURCH CHESTERFIELD
ACCOUNTS for the
ear ended 31st DECEMBER 2022
INDEPENDENT EXAMINER'S REPORT TO THE PAROCHIAL CHURCH COUNCIL
OF HOLY TRINITY AND CHRIST CHURCH CHESTERFIELD
I report on the Accounts of the Church for the year ended 31st December 2022 which are sel out
on pages 1 to 7 and have been prepared in accordance with the accounting policies Sel out in note
110 the Accounts.
Res
ective res
onsibililie
As described in note 1. the Parochial Church Council is responsible for the preparation of the
Accounts. The Council consider Ihal an audit is not required for this year under section 14412) of
the Charities Act 2011 (the 2011 Acll and that an independent examinalion is needed.
11 is my re5ponsibilily lo examine the Accounts under seclion 145 of the 2011 Act and lo slate. on
the basis of procedures specified in the General Directions given by the Charity Commissioners
under section 14515llbl of the 2011 Act. whether particular mallers have come lo my allenlion.
Basis of Inde
endent Examiner's re
ort
My examination wa5 carried out in accordance wlh General Direclions given by the Charity
Commissioners. An examination includes a review of the accounting records kept by the Parochial
Church Council and a comparison of the Accounts presenled with Ih05e records. 11 also includes
consideration of any unusual items or disclosures in the Accounts, and seeking explanations from
the Council concerning any such mallers. The procedures undertaken do nol provide all the
evidence that would be required in an audit and consequently I do not express an audit opinion on
the Accounts.
Inde
ndenl Examinerf lalement
In connection with my examinalion, no maller has c¢)me lo my allenlion:
151 which gives me reasonable cause lo believe that in any material respect the requirernenls..
lo keep accounting records in accordance with section 130 of Ihe 2011 Act. and
lo prepare Accounts which accord wlh the accounting records and comply with the
accounting requirements of the 2011 Act
have not been mel., or
lill to which, in my opinion. atlenlion should be drawn in order to enable a proper understanding
of the Accounts lo be reached.
K. Fawberi, F.C.A.
for Fawbert Adams
Chartered Accounlanls
43 Clarence Road
Chesterfield
S40 1LQ
30 March 2023