## **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