## PCC FINANCIAL STATEMENT FOR THE ANNUAL ACCOUNTS FOR THE YEAR ENDED 31.12.23
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 PCC member who is on 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 £242 for the Tear Fund, £651 for the Food Bank , in excess of £479 for the Bishop’s Harvest appeal and donated £110 to the Gideons.
## **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 based on 2023 actual expenditure (not including special projects or major repairs) these are as follows:
*Parish Centre: £15,646 Free reserves at year end: £52,799 Holy Trinity: £14,330 Free reserves at year end: £22,435 Christ Church: £2,217 Free reserves at year end: £6,058
This is a total of £32,193 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 £81,292 which is higher than this target.
A balance of £16,718 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 £5,306
## INCOME and EXPENDITURE
Income was higher by £33,209 in 2023 as recovery from the Covid pandemic continued. However, this was counterbalanced by the fact that expenditure was £30,500 higher than in 2022. This results in a Parish overspend of £24,836.
## INCOME
## Holy Trinity
Compared with 2022 Income was up by £6,053. £12,860 was received from grants and legacies.
Christ Church
Income decreased by £650. Though tax efficient giving went up by £600 other planned giving was down by £740 Parish Centre
Income went up by £27,980 with income from room hire increasing by over £20,000.
## EXPENDITURE
## Holy Trinity and Christ Church
Holy Trinity paid their share of the Common Fund request in full though it was agreed that it was no longer viable for Christ Church to pay their share for the last 4 months of the year. In addition it was agreed that Holy Trinity would bear all parish expenditure costs. The continued emphasis on mission and evangelism activities increased by £1,780 on 2022. Utility costs were a big drain on finances at Holy Trinity and were up by £3,130. Holy Trinity’s general expenditure was up by £17,252 though Christ Church’s was down by £3,262 due to the reasons described above. £10,000 was transferred from Holy Trinity’s CCLA account to cover a shortfall.
## Parish Centre
Increased use of the centre was reflected in the running costs, particularly in Utilities which were £13,372 higher. Salary costs were down by £350 (2022 figures were inflated due to the payment of pension arrears). A further £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 2023**
|**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**
_Cost of generating funds_
_All mission giving and charitable grants and donations_
**FUND BALANCES CARRIED FORWARD**
_Church and parish centre activities_
_Major capital expenditure_
**FUND BALANCES BROUGHT FORWARD**
**NET INCOMING/(OUTGOING) RESOURCES**
**NET MOVEMENT IN FUNDS**
**INCOMING RESOURCES**
_Activities for generating funds_
_Voluntary income_
_Income from investments_
_Church and Parish Centre activities_|**Holy Trinity**
**General**
**£**
49,970.55
952.30
4,991.78
55,914.63
1,894.05
64,973.77
3,750.00
70,617.82
(14,703.19)
(14,703.19)
37,138.30
22,435.11|**Holy Trinity**
**Restricted**
**£**
519.16
519.16
519.16
519.16
16,198.95
16,718.11|**Christ Church**
**General**
**£**
7,039.16
1,180.60
42.17
1,178.15
9,440.08
8,868.99
8,868.99
571.09
571.09
5,487.31
6,058.40|**Parish Centre**
**General**
**£**
7,108.00
1,511.10
52,327.26
60,946.36
67,137.91
4,552.00
71,689.91
(10,743.55)
(10,743.55)
63,542.12
52,798.57|**2023**
**Total**
**£**
64,117.71
1,180.60
3,024.73
58,497.19
126,820.23
1,894.05
140,980.67
8,302.00
151,176.72
(24,356.49)
(24,356.49)
122,366.68
98,010.19|**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|
Page 1 of 7
**PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY & CHRIST CHURCH, CHESTERFIELD**
## **BALANCE SHEET at 31 DECEMBER 2023**
|**Note**
4
5
Tangible fixed assets
Investment assets - held by Derby Diocese
Cash at bank and in hand
**NET CURRENT ASSETS**
**NET ASSETS**
**CREDITORS PAYABLE WITHIN ONE YEAR**
**FUNDS**
**FIXED ASSETS**
**CURRENT ASSETS**|**Holy Trinity**
**General**
**£**
22,435.11
22,435.11
22,435.11
22,435.11
22,435.11|**Holy Trinity**
**Restricted**
**£**
16,718.11
16,718.11
16,718.11
16,718.11|**Christ Church**
**General**
**£**
1,149.40
1,149.40
4,909.00
4,909.00
4,909.00
6,058.40
6,058.40|**Parish Centre**
**General**
**£**
1,826.13
1,826.13
50,972.44
50,972.44
50,972.44
52,798.57
52,798.57|**2023**
**Total**
**£**
2,975.53
16,718.11
19,693.64
78,316.55
78,316.55
78,316.55
98,010.19
98,010.19|**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|
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 2023**
## **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 2023**
|**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
Other collections at services
_Activities for generating funds_
Income from fundraising activities
**INCOMING RESOURCES**
_Voluntary income_
Planned giving:
Tax efficient giving
Other planned giving
Income from trading
Statutory fees retained by the PCC
_Income from investments_
Dividends
Interest
_Church and Parish Centre activities_
Other incoming resources inc. net agency receipts|**Holy Trinity**
**General**
**£**
24,046.07
3,342.04
2,678.09
355.70
6,688.65
12,860.00
49,970.55
952.30
952.30
1,896.00
407.00
2,688.78
4,991.78|**Holy Trinity**
**Restricted**
**£**
519.16
519.16|**Christ Church**
**General**
**£**
3,310.00
832.40
970.66
796.20
994.90
135.00
7,039.16
1,180.60
1,180.60
42.17
42.17
287.00
121.55
769.60
1,178.15|**Parish Centre**
**General**
**£**
7,108.00
7,108.00
1,511.10
1,511.10
51,305.20
1,022.06
52,327.26|**2023**
**Total**
**£**
27,356.07
4,174.44
3,648.75
1,151.90
7,683.55
12,995.00
7,108.00
64,117.71
1,180.60
1,180.60
3,024.73
3,024.73
2,183.00
51,833.75
4,480.44
58,497.19|**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|
Page 4 of 7
**PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY & CHRIST CHURCH, CHESTERFIELD NOTES TO THE ACCOUNTS for the year ended 31 DECEMBER 2023**
|**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
_Church and parish centre activities_
Costs of trading
_All mission giving and charitable grants and donations_
_Cost of generating funds_
Cost of activities and events
Grants and donations
**RESOURCES USED**|**Holy Trinity**
**General**
**£**
1,894.05
1,894.05
32,758.80
851.35
2,880.00
21,189.76
5,446.74
745.12
1,102.00
64,973.77
3,750.00
3,750.00|**Holy Trinity**
**Restricted**
**£**|**Christ Church**
**General**
**£**
5,277.20
32.05
127.71
135.57
2,842.48
124.98
313.00
16.00
8,868.99|**Parish Centre**
**General**
**£**
34,247.57
202.91
8,415.94
23,863.68
300.00
107.81
67,137.91
4,552.00
4,552.00|**2023**
**Total**
**£**
1,894.05
1,894.05
38,036.00
35,130.97
330.62
3,015.57
32,448.18
29,310.42
870.10
1,715.00
123.81
140,980.67
8,302.00
8,302.00|**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|
Page 5 of 7
**PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY & CHRIST CHURCH, CHESTERFIELD NOTES TO THE ACCOUNTS for the year ended 31 DECEMBER 2023**
|**Office**
**Equipment**
**£**
**4**
22,192.41
Disposals during the year
22,192.41
19,837.54
261.65
Depreciation disposal during the year
20,099.19
Net Book Value at 31st December 2023
2,093.22
**5**
**HOLY TRINITY - RESTRICTED FUND INVESTMENT ASSETS**
Held by Derby Diocesan Board of Finance as Custodian Trustee
Darwin Avenue proceeds
Depreciation at 31st December 2023
Cost at 31st December 2023
Depreciation at 1st January 2023
Depreciation Charge for the year
Cost at 1st January 2023
Additions during the year
**FIXED ASSETS**|**Computer**
**Equipment**
**£**
41,323.99
41,323.99
41,323.99
41,323.99
-|**Kitchen**
**Equipment**
**£**
3,847.63
3,847.63
2,896.35
105.70
3,002.05
845.58|**Cleaning**
**Equipment**
**£**
614.91
614.91
614.91
614.91
-|**Furnishings**
**£**
50.00
50.00
50.00
50.00
-|**2023**
**Total**
**£**
68,028.94
68,028.94
64,722.79
367.35
65,090.14
2,938.80
**£**
16,718.11
16,718.11|**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|
Page 6 of 7
**PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY & CHRIST CHURCH, CHESTERFIELD NOTES TO THE ACCOUNTS for the year ended 31 DECEMBER 2023**
|**STAFF COSTS**
Wages, salaries and national insurance
Average number of employees|**2023**
**Total**
34,247.57
5|**2022**
**Total**
34,598.26|
|---|---|---|
|||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 2023
PAROCHIAL CHURCH COUNCIL OF
HOLY TRINITY AND CHRIST CHURCH CHESTERFIELD
ACCO
NT
or the
ear end
1st DE
ER 202
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 2023 which are s8t out
on pages 1 to 7 and have been prepared in ac¢ordance th the accounting poli¢i8s set out in note
1 to the Accounts.
Res ective res
onsibiliti8S
As described in note 1, the Parochial chUh CounLII is $F)0n5ib1e for the preparation of the
Accounts. The Council consider that an audit is not requlr8d for this year under section 144(2} of
the Charities Act 2011 (the 2011 Act> and that an independent examination is needed.
It is rny responslbllity to examine the Accounts under section 145 of the 2011 A¢t and to state, on
the basi5 of procèdures specified in th8 General Directions givèn by the Charity Commissioner6
under section 145(5)(b) of the 2011 Act, ether p8rticular matters have com8 to my attention.
Basis of Inde
endent Examinerfs re
ort
My examlnation was carried out in ac¢ordance with General Directions given by the Charity
Commissioners. An examination includ9s a review of the accounting records kept by the Par(ychial
Church Council an(J a comparison of the Accounts presented wlth those records. It also includes
consideration of any unusual items or disclosures in the Accounts, and seeking explanations from
the Council concerning any such matters. The procedures undertaken do not provide all the
evidence that VK)uld be required in an audit and consequently I do not express an audit opinion on
the Accounts.
Inde endent Examinerfs statement
In conn8Ctlon bvith my examinatton, no matter has come to my attention..
(i) which glves me reasonable cause to believe thal in any material respect the requirements:
to keep accounting recKJrds in accordan¢e with section 130 of the 2011 Act. and
to prepare Accounts lch accord Vdith the accounting records and comply with tha
accounting rgquirements of the 2011 Act
have not been met., or
(li) to whl¢h, in my opinion, attention shoukl be drawn in order to enabl8 a proper understanding
of the Accounts to be reached.
Mr. A. K. Fawbert. F.C.A.
for Fawbert Adams
Chartered Accountants
43 Clarence Road
Chesterfield
S401LQ
6 March 2024