PCC FINANCIAL STATEMENT FOR THE ANNUAL ACCOUNTS FOR THE YEAR ENDED 31.12.24
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 a total of £904 for Hope House from the Harvest Appeal, George Stephenson Day and 2023 Christmas Card Appeal, £89 for the Food Bank , £320 for W.O.R.T.H. from the George Stephenson Day and donated £50 to the Ragged School to help with their flood damage costs. This is in addition to Holy Trinity’s tithed giving to missions (£2,985).
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 2024 actual expenditure (not including special projects or major repairs) these are as follows:
Parish Centre: £16,105 Free reserves at year end: £35,830 Holy Trinity: £13,367 Free reserves at year end: £234* Christ Church: £1,410 Free reserves at year end: £9,800
This is a total of £30,882. 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 £45,864 which is higher than this target.
**A balance of £17,605 in the restricted fund at Holy Trinity is held in a recoupment scheme by the Diocese of Derby. In addition Holy Trinity was holding £9,940 restricted for special projects.
INCOME and EXPENDITURE
Income was higher by £10,000 in 2024 and expenditure was £25,213 lower than in 2023. This results in a Parish underspend of £10,000.
INCOME
Holy Trinity
Compared with 2023 Income was up by £1,417. £6,500 was received from grants. The PCC agreed that fundraising events were needed for special projects and £1,211 was raised to buy a Sound System.
Christ Church
Income decreased by £603. Though tax efficient giving went up by £276 other planned giving was down by £538
Parish Centre
Income from room hire increased by over £14,000.
EXPENDITURE
Holy Trinity and Christ Church
Holy Trinity paid their share of the Common Fund request in full. Christ Church began paying their share at a reduced rate of £1,000 in April. They began paying their share of Parish costs again in September with Holy Trinity meeting all Parish costs until then. Utility costs at Holy Trinity were down by almost £1,700 thanks to better heating control . £3,000 was transferred from Holy Trinity’s CCLA Deposit Account to cover a shortfall in Income v Expenditure.
Parish Centre
A change of energy provider resulted in Utilities costs being reduced by £6,480. Salary costs were up by £2,120. Maggie Masters
Treasurer
PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY & CHRIST CHURCH, CHESTERFIELD
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 DECEMBER 2024
| Note INCOMING RESOURCES Voluntary income 2(a) Activities for generating funds 2(b) Income from investments 2(c) Church and Parish Centre activities 2(d) TOTAL INCOMING RESOURCES RESOURCES EXPENDED Cost of generating funds 3(a) All mission giving and charitable grants and donations 3(b) Church and parish centre activities 3(c) Major capital expenditure 3(d) TOTAL RESOURCES EXPENDED NET INCOMING/(OUTGOING) RESOURCES TRANSFERS BETWEEN FUNDS NET MOVEMENT IN FUNDS FUND BALANCES BROUGHT FORWARD FUND BALANCES CARRIED FORWARD |
£ 51,387.46 1,211.00 787.65 3,613.90 57,000.01 0.00 2,985.00 50,483.85 2,425.00 55,893.85 1,106.16 1,106.16 22,435.11 23,541.27 Holy Trinity General |
£ 0.00 0.00 887.37 0.00 887.37 0.00 0.00 0.00 0.00 0.00 887.37 887.37 16,718.11 17,605.48 Holy Trinity Restricted |
£ £ 9,754.21 40.00 425.53 285.00 117.38 1,979.62 500.60 65,861.59 10,797.72 68,166.21 0.00 0.00 0.00 0.00 5,647.51 64,422.03 0.00 0.00 5,647.51 64,422.03 5,150.21### 3,744.18### 0.00 5,150.21 3,744.18 6,058.40 52,798.57 11,208.61 56,542.75 Christ Church General Parish Centre General |
£ 61,181.67 1,921.53 3,772.02 69,976.09 136,851.31 0.00 2,985.00 120,553.39 2,425.00 125,963.39 10,887.92 0.00 10,887.92 98,010.19 108,898.11 2024 Total |
£ 64,117.71 1,180.60 3,024.73 58,497.19 2023 Total |
|---|---|---|---|---|---|
| 126,820.23 | |||||
| 0.00 1,894.05 140,980.67 8,302.00 |
|||||
| 151,176.72 | |||||
| (24,356.49) 0.00 |
|||||
| (24,356.49) 122,366.68 |
|||||
| 98,010.19 |
Page 1 of 7
PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY & CHRIST CHURCH, CHESTERFIELD
BALANCE SHEET at 31 DECEMBER 2024
| FIXED ASSETS Note Tangible fixed assets 4 Investment assets - held by Derby Diocese 5 CURRENT ASSETS Cash at bank and in hand CREDITORS PAYABLE WITHIN ONE YEAR NET CURRENT ASSETS NET ASSETS FUNDS |
£ 0.00 23,541.27 23,541.27 23,541.27 23,541.27 23,541.27 0.00 Holy Trinity General |
£ 17,605.48 17,605.48 0.00 0.00 17,605.48 17,605.48 0.00 Holy Trinity Restricted |
£ 1,001.40 1,001.40 10,207.21 10,207.21 10,207.21 11,208.61 11,208.61 0.00 Christ Church General |
£ 1,643.51 1,643.51 0.00 54,899.24 54,899.24 0.00 54,899.24 56,542.75 0.00 56,542.75 0.00 0.00 0.00 Parish Centre General |
£ 2,644.91 17,605.48 20,250.39 88,647.72 88,647.72 88,647.72 108,898.11 108,898.11 0.00 2024 Total |
£ 2,975.53 16,718.11 2023 Total |
|---|---|---|---|---|---|---|
| 19,693.64 | ||||||
| 78,316.55 | ||||||
| 78,316.55 | ||||||
| 78,316.55 | ||||||
| 98,010.19 | ||||||
| 98,010.19 | ||||||
| 0.00 |
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 2024
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 2024
| 2 INCOMING RESOURCES 2(a) Voluntary income Planned giving: Tax efficient giving Other planned giving Other collections at services Non-recurring giving (inc special appeals) Tax recovered through gift aid Recurring grants and legacies Non-recurring grants and legacies 2(b) Activities for generating funds Income from fundraising activities 2(c) Income from investments Dividends Interest 2(d) Church and Parish Centre activities Statutory fees retained by the PCC Income from trading VAT recovered Other incoming resources inc. net agency receipts |
£ 30,874.46 3,091.00 3,774.42 460.62 6,686.96 6,500.00 51,387.46 1,211.00 1,211.00 787.65 787.65 829.00 325.90 0.00 2,459.00 3,613.90 Holy Trinity General |
£ 0.00 0.00 887.37 887.37 0.00 Holy Trinity Restricted |
£ 3,586.00 294.00 2,051.41 1,473.81 1,213.99 135.00 1,000.00 9,754.21 425.53 425.53 117.38 117.38 248.00 252.60 500.60 Christ Church General |
£ 40.00 40.00 285.00 285.00 1,979.62 1,979.62 65,735.85 125.74 65,861.59 Parish Centre General |
£ 34,460.46 3,385.00 5,825.83 1,974.43 7,900.95 6,635.00 1,000.00 61,181.67 1,921.53 1,921.53 0.00 3,772.02 0.00 0.00 3,772.02 1,077.00 66,314.35 0.00 2,584.74 69,976.09 2024 Total |
£ 27,356.07 4,174.44 3,648.75 1,151.90 7,683.55 12,995.00 7,108.00 2023 Total |
|---|---|---|---|---|---|---|
| 64,117.71 | ||||||
| 1,180.60 | ||||||
| 1,180.60 | ||||||
| 3,024.73 0 |
||||||
| 3,024.73 | ||||||
| 2,183.00 51,833.75 0.00 4,480.44 |
||||||
| 58,497.19 |
Page 4 of 7
PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY & CHRIST CHURCH, CHESTERFIELD NOTES TO THE ACCOUNTS for the year ended 31 DECEMBER 2024
| 3 RESOURCES USED 3(a) Cost of generating funds Cost of activities and events 3(b) All mission giving and charitable grants and donations Grants and donations 3(c) Church and parish centre activities Parish share paid to Diocese Salaries/honoraria/fees/clergy expenses Expenses and administration Mission and evangelism costs Church running expenses Church utility bills Costs of trading Governance costs Other outgoing resources inc. net agency payments 3(d) Major capital expenditure Major repairs to church building inc decoration New building work |
£ 0.00 2,985.00 2,985.00 29,936.00 205.50 1,584.92 13,651.63 3,766.08 759.90 300.00 279.82 50,483.85 2,425.00 2,425.00 Holy Trinity General |
£ 0.00 0.00 0.00 0.00 Holy Trinity Restricted |
£ 0.00 0.00 1,800.00 40.00 148.00 85.42 3,252.39 21.70 300.00 5,647.51 0.00 Christ Church General |
£ 0.00 0.00 36,548.48 182.62 9,905.15 17,377.78 108.00 300.00 64,422.03 0.00 Parish Centre General |
£ 0.00 0.00 2,985.00 2,985.00 31,736.00 36,793.98 330.62 1,670.34 26,809.17 21,143.86 889.60 900.00 279.82 120,553.39 2,425.00 0.00 2,425.00 2024 Total |
£ 0.00 2023 Total |
|---|---|---|---|---|---|---|
| 0.00 | ||||||
| 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 0.00 |
||||||
| 8,302.00 |
Page 5 of 7
PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY & CHRIST CHURCH, CHESTERFIELD NOTES TO THE ACCOUNTS for the year ended 31 DECEMBER 2024
| £ 4 FIXED ASSETS Cost at 1st January 2024 22,192.41 Additions during the year Disposals during the year Cost at 31st December 2024 22,192.41 Depreciation at 1st January 2024 20,099.19 Depreciation Charge for the year 211.94 Depreciation disposal during the year Depreciation at 31st December 2024 20,311.13 Net Book Value at 31st December 2024 1,881.28 5 HOLY TRINITY - RESTRICTED FUND INVESTMENT ASSETS Held by Derby Diocesan Board of Finance as Custodian Trustee Darwin Avenue proceeds Office Equipment |
£ 41,323.99 41,323.99 41,323.99 41,323.99 - Computer Equipment |
£ 3,847.63 3,847.63 3,002.05 85.62 3,087.67 759.96 Kitchen Equipment |
£ 614.91 614.91 614.91 614.91 - Cleaning Equipment |
Furnishings £ 50.00 50.00 50.00 50.00 - |
£ 68,028.94 0.00 0.00 68,028.94 65,090.14 297.56 0.00 65,387.70 2,641.24 £ 0.00 17,605.48 17,605.48 2024 Total |
£ 68,028.94 0.00 0.00 2023 Total |
|---|---|---|---|---|---|---|
| 68,028.94 | ||||||
| 64,722.79 367.35 0.00 |
||||||
| 65,090.14 | ||||||
| 2,938.80 | ||||||
| £ 0.00 16,718.11 |
||||||
| 16,718.11 |
Page 6 of 7
PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY & CHRIST CHURCH, CHESTERFIELD NOTES TO THE ACCOUNTS for the year ended 31 DECEMBER 2024
| STAFF COSTS Wages, salaries and national insurance Average number of employees |
36,548.48 5 2024 Total |
34,247.57 2023 Total |
|---|---|---|
| 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 2024
PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY AND CHRIST CHURCH CHESTERFIELD ACCOUNTS for the ear ended 31 st DECEMBER 2024 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 31 st December 2024 which are set out on pages 110 7 and have been prepared in accordance wrth Ihe accounting policies set out in note 1 to the Accounts. Res ective res onsibilities As described in note 1. the Parochial Church Council is responsible for the preparation of the Accounts. The Council consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to examine the Accounts under section 145 of the 2011 Act and to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 145(5Mb) of tha 2011 Act, whether particular matters have come to my attention. Basis of Inde endenl Examiner's re ort My examination was carried out in accordance with General Directions glven by the Charity Commissioners. An 8xamination includes a review of the accounting records kept by the Parochial Church Council and a comparison of the Accounts presented with those records. It al80 includes consideration of any unusual items or disclosures in the Accounts, and seeking explanations from the Council conceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the Accounts. Inde endent Examiner's statement In connection with my examination, no matter has come to my attention: (i) which gives me reasonable 12use to believe that in any material resped the requirements: to keep accounting records in accordance with section 130 of the 2011 Act. and to prepare Accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or (li) to which, in my opinion, attention should be dravm in order to enable 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 S40 1LQ 13 March 2024