## **ST JAMES CHURCH, SOUTHBROOM** ## **Registered Charity Number 1134059** ## **Annual Report and Financial Statements of the Parochial Church Council** for the year ended 31 December 2023 ## **Bank** HSBC Bank 45 Market Place Devizes Wiltshire ## **Independent Examiner** Mrs A M Cross FCCA The Alanbrookes Group Ltd T/A JS Weeks & Co 10 Market Place Devizes Wiltshire **INDEPENDENT EXAMINER’S REPORT** ## **TO THE PAROCHIAL CHURCH COUNCIL PARISH OF ST JAMES, SOUTHBROOM** This report on the accounts of the PCC for the year ended 31 December 2023, which are set out on pages 1 and 2, is in respect of an examination carried out under Regulation 3(3) of the Church Accounting Regulations 1997 and section 43 of the Charities Act 1993. ## **Respective Responsibilities of Trustees and Examiner** As the members of the PCC you are responsible for the preparation of the accounts; you consider that the audit requirement of Regulation 3(3) of the Church Accounts Regulations 1997 and section 43(2) of the Charities Act 1993 (The Act) do not apply. It is my responsibility to issue this report on those accounts in accordance with the terms of Regulation 25 of the Church Accounting Regulations 1997 and Regulation 7 of the Charities (Accounts and Reports) Regulations 1995. ## **Basis of Independent Examiner’s Report** My examination was carried out in accordance with the General Directions given by the Charity Commissioners under section 43(7)(b) of the Act and to be found in the guidance from the CBF. That examination includes a review of the accounting records kept by the PCC and a comparison of the accounts with those records. It also includes considering any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning 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 view given by the accounts. ## **Independent Examiner’s Statement** In connection with my examination, no matter has come to my attention: 1. Which gives me reasonable cause to believe that in any material respect the requirements: - (a) to keep accounting records in accordance with s. 130 of the Act; and - (b) to prepare financial statements, which accord with the accounting records and comply with the requirements of the Act and the Regulations have not been met; or 2. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. ………………………… Mrs A M Cross FCCA The Alanbrookes Group Ltd T/A JS Weeks & Co 10 Market Place Devizes Wiltshire SN10 1HT 26 March 2024 **PAROCHIAL CHURCH COUNCIL PARISH OF ST JAMES, SOUTHBROOM** ## **FINANCIAL STATEMENTS** **for the year ended 31 December 2023** **I N D E X** **Page** - 1 Statement of Financial Activities 2 Balance Sheet 3 - 9 Notes to the Financial Statements **1** **PAROCHIAL CHURCH COUNCIL PARISH OF ST JAMES, SOUTHBROOM** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **for the year ended 31 December 2023** |||**Unrestricted**|**Restricted**|**Total**|**Funds**| |---|---|---|---|---|---| ||**Note**|**Funds**|**Funds**|**2023**|**2022**| |||**£**|**£**|**£**|**£**| |**Incoming Resources**|||||| |Incoming Resources from Donors|2a|185534|13087|198621|267210| |Other Voluntary Incoming Resources|2b|3400|5000|8400|-| |Income from Charitable|||||| |& Ancillary Trading|2c|28163|-|28163|24209| |Income from Investments|2d|4141|19542|23683|3511| |||----------|----------|----------|----------| |**Total Incoming Resources**||221238|37629|258867|294930| |||======|======|======|======| |**Resources Used**|||||| |Church Activities|3|209093|26691|235784|221360| |||----------|----------|----------|----------| |**Total Resources Used**||209093|26691|235784|221360| |||======|======|======|======| |**Net Incoming/(Outgoing) Resources**||12145|10938|23083|73570| |**Transfers Between Funds**||-|-|-|-| |**Gains and Losses on Investments**|||||| |- Unrealised (reduction)/increase in value||-|8757|8757|(10165)| |||----------|----------|----------|----------| |**Net Movement in Funds**||12145|19695|31840|63405| |**Balances as at 1 January 2023**||221516|447768|669284|605879| |||----------|----------|----------|----------| |**Balances as at 31 December 2023**||233661|467463|701124|669284| |||======|======|======|======| **2** **PAROCHIAL CHURCH COUNCIL PARISH OF ST JAMES, SOUTHBROOM** ## **BALANCE SHEET** ## **as at 31 December 2023** ||**Note**|**2023**|**2023**|**2022**| |---|---|---|---|---| |||**£**|**£**|**£**| |**Fixed Assets**||||| |Land and Buildings at Cost|5||193000|193000| |Investment Assets at Market Value|5||112336|100529| |**Current Assets**||||| |Debtors|6|3222||6188| |Cash at Bank and in Hand||409685||374567| |||---------||---------| |||412907||380755| |||---------||---------| |**Liabilities:-**||||| |Creditors:- Amounts Falling||||| |Due Within One Year|7|(17119)||(5000)| |||---------||---------| |**Net Current Assets**|||395788|375755| ||||---------|---------| |**Net Assets**|||701124|669284| ||||=====|=====| |**Funds**||||| |Unrestricted|8||233661|221517| |Restricted|8||467463|447767| ||||--------|--------| ||||701124|669284| ||||=====|=====| Approved by the Parochial Church Council on 28 April 2024 and signed on its behalf by ........................................... ........................................... Chairman Treasurer The notes on pages 3 to 9 form part of these accounts. **3** **PAROCHIAL CHURCH COUNCIL PARISH OF ST JAMES, SOUTHBROOM** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **for the year ended 31 December 2023** ## **1. Accounting Policies** The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the Charities SORP. 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 accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that own their main affiliation to another body nor those that are informal gatherings of Church members. ## **Funds** General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Some funds designated for a particular purpose by the PCC are restricted. For example, some of the Cottage Properties Fund interest can be used for ecclesiastical work in the parish. ## **Incoming Resources** ## _**Voluntary income and capital 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 it becomes receivable. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement and the amount due. Funds raised by the fete, garden party and similar events are accounted for gross. ## _**Other ordinary income**_ Dividends and interest are accounted for when receivable. Tax recoverable on such income is recognised in the same accounting year. ## _**Gains and loss on investments**_ Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at 31 December. **4** **PAROCHIAL CHURCH COUNCIL PARISH OF ST JAMES, SOUTHBROOM** ## **NOTES TO THE FINANCIAL STATEMENTS (Continued)** ## **for the year ended 31 December 2023** ## **1. Accounting Policies (Continued)** ## **Resources Used** ## _**Grants**_ Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC. ## _**Activities directly relating to the work of the Church**_ The diocesan parish share is accounted for when payable. Any share unpaid at 31 December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the Balance Sheet. ## **Fixed Assets** ## _**Consecrated land and buildings and movable church furnishings**_ Consecrated and beneficed property is excluded from the accounts by s.96(2)(a) of the Charities Act 1993. No value is placed on movable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or benefice buildings and movable church furnishings, whether maintenance or improvement, is written off as expenditure on the SOFA and separately disclosed. The PCC own the Parish Centre (now known as the Southbroom Centre, Victoria Road) and the land thereon as set out in the conveyance of 12[th] February 1976. The original cost is not known and the PCC believes that no useful purpose is served by valuing it. ## _**Investments**_ Investments are valued at market value at 31 December. ## _**Current assets**_ Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectible. Short-term deposits include cash held on deposit either with the CBF Church of England Funds, Virgin Money or at the bank. **5** **PAROCHIAL CHURCH COUNCIL PARISH OF ST JAMES, SOUTHBROOM** ## **NOTES TO THE FINANCIAL STATEMENTS (Continued)** ## **for the year ended 31 December 2023** |||**Unrestricted**|**Restricted**|**Total**|**Funds**| |---|---|---|---|---|---| |||**Fund**|
**Fund**|**2023**|**2022**| |||**£**|
**£**|**£**|**£**| |**2.**|**Incoming Resources**||||| ||a. Incoming Resources from Donors||||| ||Planned Giving - Pledged Offerings|137615|
-|137615|133224| ||Other Offerings|10153|
-|10153|8639| ||Special Collections|-|
-|-|-| ||Income Tax Recoverable|28969|
-|28969|29902| ||Donations|8797|
13087|21884|95445| |||----------|
----------|----------|----------| |||185534|
13087|198621|267210| |||----------|
----------|----------|----------| ||b. Other Voluntary Incoming Resources||||| ||Fund Raising|-|
-|-|-| ||Grants:- Wiltshire Council|3400|
-|3400|-| ||Other Funds|-|
5000|5000|-| |||----------|
----------|----------|----------| |||3400|
5000|8400|-| |||----------|
----------|----------|----------| ||c. Income from Charitable and Ancillary Trading||||| ||Fees - Marriages and Funerals|3205|
-|3205|4946| ||Parish Centre Lettings|6620|
-|6620|5177| ||Magazine Sales and Advertising|609|
-|609|783| ||Printing and Heating|556|
-|556|917| ||Church Lettings|2774|
-|2774|709| ||St James Centre|14399|
-|14399|11677| ||Mums and Toddlers, Social and Flowers|-|
-|-|-| |||----------|
----------|----------|----------| |||28163|
-|28163|24209| |||----------|
----------|----------|----------| ||d. Income from Investments||||| ||Deposit Interest|4141|
19542|23683|3511| |||----------|
----------|----------|----------| ||**Total Incoming Resources**|221238|
37629|258867|294930| |||======|
======|======|======| **6** ## **PAROCHIAL CHURCH COUNCIL PARISH OF ST JAMES, SOUTHBROOM NOTES TO THE FINANCIAL STATEMENTS (Continued) for the year ended 31 December 2023** |||**Unrestricted**|**Restricted**|**Total Funds**|**Total Funds**| |---|---|---|---|---|---| |||**Funds**|**Funds**|**2023**|**2022**| |**3.**|**Resources Used**|**£**|**£**|**£**|**£**| ||Activities Directly Relating to the Work of the Church||||| ||**_General_**||||| ||Parish Share|100394|-|100394|97470| ||Outward Giving|16700|-|16700|17086| ||Mission|13433|21309|34742|19410| ||Independent Examiner’s Fees|522|-|522|438| ||Partnership|-|-|-|-| ||Church Life|26312|-|26312|7950| ||Clergy Expenses|441|-|441|(165)| ||New Staff Costs|175|-|175|246| ||Connect Groups|-|-|-|-| ||Parish Weekend|(53)|
-|(53)|(297)| ||Training|200|-|200|193| ||Copyright Licence|1241|-|1241|1182| ||Social|719|-|719|759| ||Subscriptions and Sundries|447|-|447|1029| ||Bank Charges|242|-|242|357| ||**_Church Expenses_**||||| ||Insurance|3958|-|3958|4497| ||Light and Heat|9597|-|9597|4365| ||Repairs and Maintenance|3101|103|3204|5366| ||Choir and Organist Expenses|444|-|444|325| ||Service Expenses|588|-|588|812| ||Equipment|750|-|750|436| ||**_Church Office_**||||| ||Secretary/Finance Assistant|15575|-|15575|13577| ||Equipment|22|-|22|219| ||Printing and Stationery|2048|-|2048|2139| ||Telephone|3764|-|3764|3998| ||**_St James Centre/Parish Centre_**||||| ||Insurance|1938|-|1938|894| ||Light and Heat|5376|-|5376|4378| ||Repairs, Maintenance and Cleaning|731|5279|6010|30350| ||Operations Manager|-|-|-|2781| ||Equipment and Communications|78|-|78|942| ||Water|350|-|350|623| |||-----------|-----------|-----------|-----------| |||209093|26691|235784|221360| |||======|======|======|======| **7** **PAROCHIAL CHURCH COUNCIL PARISH OF ST JAMES, SOUTHBROOM** ## **NOTES TO THE FINANCIAL STATEMENTS (Continued)** ## **for the year ended 31 December 2023** ## **4.** |**Staff Costs**|**2023**|**2022**| |---|---|---| ||**£**|**£**| |Gross Pay and Pension Costs|52498|34724| ||=====|=====| During the year the PCC employed an Administrator, a CYP (Children and Young Persons) Worker and a Debt Centre Manager. Average number of employees: 3 (2022:3) ## **5. Fixed Assets for use by the PCC** |**Fixed Assets for use by the PCC**|| |---|---| ||**2023**| |**St James Centre**|**£**| |Net Book Value 1 January 2023|193000| ||----------| |Net Book Value 31 December 2023|193000| ||======| ||**2022**| |**Investments**|**£**| |Market Value 1 January 2023|100529| |Income Received|3050| |Revaluation|8757| ||----------| |Market Value 31 December 2023|112336| ||======| **Note:-** The above investments are restricted. The capital and income cannot be used for general expenditure purposes. |**6.**|**Debtors**|**2023**|**2022**| |---|---|---|---| |||**£**|**£**| ||Copyright Licence|1336|1241| ||Insurance|-|4947| ||Gift Aid|602|-| ||Electricity Recharges|834|-| ||Funeral Directors|450|-| |||----------|----------| |||3222|6188| |||======|======| **8** **PAROCHIAL CHURCH COUNCIL PARISH OF ST JAMES, SOUTHBROOM** ## **NOTES TO THE FINANCIAL STATEMENTS (Continued)** ## **for the year ended 31 December 2023** |**7.**|**Liabilities:-**|||**2023**|**2022**| |---|---|---|---|---|---| ||**Amounts Falling Due Within One Year**|||**£**|**£**| ||Vicar RJS Expenses|||15000|-| ||Independent Examiner’s Fee|||480|378| ||Clergy Expenses|||882|1776| ||Youthwork Activities|||-|-| ||Contra Fees etc|||-|2108| ||Payroll/Pension Liabilities|||757|738| |||||----------|----------| |||||17119|5000| |||||======|======| |**8.**|**Analysis of Net Assets by Funds**||||| |||**Fixed**|**Current**|**Current**|**Total**| |||**Assets**|**Assets**|**Liabilities**|**Funds**| |||**£**|**£**|**£**|**£**| ||**Unrestricted Funds**||||| ||General Fund|-|48908|(17119)|31789| ||Building Repairs Fund|-|159445|-|159445| ||Legacies and Gifts Fund|-|42427|-|42427| |||----------|----------|----------|----------| ||**Total Unrestricted Funds**|-|250780|(17119)|233661| ||**Restricted Funds**||||| ||Fixed Assets Fund|112336|-|-|112336| ||Legacies and Gifts Fund|-|162127|-|162127| ||St James Centre Fund|193000|-|-|193000| |||----------|----------|----------|----------| ||**Total Restricted Funds**|305336|162127|-|467463| |||----------|----------|----------|----------| ||**Total Funds**|305336|412907|(17119)|701124| |||======|======|======|======| **9** **PAROCHIAL CHURCH COUNCIL PARISH OF ST JAMES, SOUTHBROOM** ## **NOTES TO THE FINANCIAL STATEMENTS (Continued)** **for the year ended 31 December 2023** ## **9. Charitable Status** The PCC is a Registered Charity. The Registration Number is 1134059. The official name is: The Parochial Church Council of the Ecclesiastical Parish of St James, Southbroom, Devizes. The working name is: St James' Southbroom PCC, Devizes.