Trustees’ Annual Report and Financial Statements of the Parochial Church Council of
Registered Charity no. 1134774
For the year ended 31 December 2022
CONTENTS
| CONTENTS | |
|---|---|
| Page | |
| Trustees’ Annual Report | 2-6 |
| Report of the Independent Examiner | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10-19 |
| St Matthew's Church, 103 Tarring Road, Worthing, BN11 4HB | |
| Website: www.stmatthewsworthing.org | |
| Incumbent: Canon Paul Taylor, 53 Bath Road, Worthing, BN11 3PQ | |
| Independent Examiner: Mr C J Wells, Andrews Cottage, Red Lane, Shipley, | |
| Horsham, W Sussex RH13 8PH | |
| Bankers: Lloyds Bank Plc, South Street, Worthing |
PAROCHIAL CHURCH OF ST MATfHEW'S WORTHING Registered Charity no. 1134774 Trusteeg Annual Report for 2022 Objectives and Activities The primary objettive of St Matthew's PCC is the promotion of the Gospel of our Lord Jesu5 Christ according to the doctrines and practices Df the Church of England. The PCC hasthe responsibilityof co-operatingwith the incumbent in promoting in the ecclesiastical parish the whole mission of the Church pastoral, evangelistic, social and ecumenical. Achievements and Performance Pursuing our Vision In 2022 we have Continued to develop St Matthew's Church in accordance with our agreed vision as follows.. Our Why? (Purpose) Believing in Worthing We believe in our town and Ioc31 communty, and we want to invest in it in every way we can, playin8 our part in making it a great place to be. Believing in God inspire5 our believing in Worthing. Our What? (Visionl Over the fwe years April 2019 April 2024 we want to Increasing be... An inspiring church the d)urch is the people not a building. We are called to serve God 24 hour5 a day, 7 days a week whereverwe are. To be effertive we must have white hot faith on fire in our experience of God that we may be 'change makers, and 'hope bringer5'. We gather in groups and on a Sunday for inspiring worship and effective equipping that renew5 our vision to serve and proclaim Jesus. We go out to love and serve creative, Monday to Saturday, in our communities across Worthing and in our parish and surrounding area. A catalyst In the community we want to further develop our work as a community hvb developing our groups where local people find community, support and encouragement in the ups and downs of lrfe. We want to support this work by opening up our church building a5 a café and connection space that signposts local support services. We want to believe in every individual, especially those vulnerable and isolated, to release their potential and establish a joyful, inclusNie community of hope for all. We want to reimagine the use of our rooms and halls to provide a vibrant 7 day a week ntre for our work with young and old. A hub for the young - connecting with youth, and those in their 20s and 30s, is a particular target for us as over a third of the population of our area are in this age bracket Iwfch 85% being under years old). We have a full-time Youth Leader and a growing work. and we partner with a number of local schools. We have purpOSed Spa in our halls to become a large permanent youth lounge and opened up our facilities as a hub for local voung people. Our How? (Values) Depend on our Father - Everything we do need5 to be guided by prayer that we may learn to Iwe wisety, seek justice and treat our planet wrth respect. Share Jesus, love - We read God's insplred word that Jesus may be the centre of our lrfe together. Jesus is the hope for our town, nation and world. Know the Spirit's presence - As we worship together, we are transformed by the HO Spirit and propelled out to humbly serve our needy wodd.
PAROCHIAL CHURCH OF ST MArrHEW'S WORTHING Registered Charity no. 1134774 Trusteeg Annual Report for 2022 Word5 that are Important to u&.. Farnily we are a mixed bunch.. singles and married, young and old, babies, children and youth too. Some of us are local people whilst others have come from across the world. We a a real church family where everyone and anyone can belonE. Forgiveness - one of the thin85 that we have in Common is that we all get things wrong. Whether or not you think your life is sorted out, we know that we all need God's help and each other's acceptan and love. Fruitfulness we are all 'work in progress,, but we are committed to grow and serve, discover our grft5 and offer our lives as we grasp ever more deep what it means to be chosen by God. Progress this year... Inspiring Church We have grown in numbers on Sundays at 9.30 WTth a usual attendance of around adufrs. Our new 11.15 congregation averages around 55 adult5 and 20 children but numbers are more unpredictable. There has been an encouraging increase in both the numbers and frequency of attendance of those under 18. We still IWÈ stream both Sunday services every week and around Itkls household5 watch from home mainly at 9.30am. Friendships are made and nurtured. the big questions of Ie are examlned, fatth is expressed in worship preaching and prayer. A team of lay and clergy preachers assist the Vicar. Our music band and technical team prattise every Thursday evening and commit a further S hours on a Sunday ensuring that we can stream our seNices and that sout)d and vision in the building 15 of a high quality. Our Worship Pastor Joe Shumier. appointed in 2021, has been supported in this task by committed volunteer leaders and team. Congregational members lead and run many drfferent group5 during the week. Our Men's work has contlnued with regular breakfast meetings and the Women's group activities have relaunched durin8 the year. Ten Lrfè Groups met, mostly twice a month. in homes to study the Bible, pray and support each other. The Alpha course has been run for those new to falth and welcome teas for those new to St Matthew's communitv. As a result of a generous donation of £lCKJ,cxxI from a couple in the congregation we renewed our church lighting, audio speakers and wiring, TV monitor screens, and chairs. We also re-modelled the stone pillars to remove a trip hazard and in 2023 will edge the sanctuary steps wtth oak to provide clearer demarotion for those who with impaired eyesight. As a separate projett we also sought planning permission to mount 20 solar panels on the south roof of the church. This was opposed by the conservation officer but (xlled in to the planning committee where tt was unanimous passed by the Town Councillors. Faculty permission was also granted by the Chancellor of the Diocese. We are seeking grant funding and hope to go ahead with this projert in 2023. This is in accordance with the Church of England's stated aim to be carbon neutral by 2UJO. Catalyst in the Community We have invited the whole community to four major fun days induding crafts. activitie5 and food and drlnk comptetely free of charge. Many from the communty have joined in with servi5 at Christmas and Easter and we have regularly delivered invit3tions to events and services to most of the 170) homes in the parish. Holiday L¢Jn¢hes were cooked and Seed to local families during school holidays (This year 511 hot meals were served free of charge.) St Matvs Meals continued to provide three days, worth of free food for any local families or individuals who requested it. (This year 752 maln meals were provided.) All this food was provided by gift5 from congregational members.
PAROCHIAL CHURCH OF ST MArrHEW'S WORTHING Registered Charity no. 1134774 Trustees, Annual Report for 2022 OurThursday parenttoddlergroup, Sparklers, has been busy in term time all yearproviding a large well-equipped fe play space, song time, frLJit snack for the children, and coffee and cake forthe Mums. Dads and Carers. This is staffed by a volunteer team. On average 25 children attend. 'Coffee on the Cornerf, a coffee and cake café ran every Tuesday and Wednesday morning in church throughout the year. Aimed at local people connecting wf(h each other, this attracted both IDcal retired people and young mums and dads with pre-school children. This is a non-profit venture aiming only to cover costs and some ctf the heating c05t5 incurred. An average of 20-35 people have attended each time. It is run with a voluntee r team Irotal of about 30 people with 4 volunteers involved in each session. During the winter we registered this café as a warm space on variou5 publicwebsites. We were grateful for a grant recewed from Southern Community Foundation for £4810 for sofas, chairs and other items to form comfortable seating areas to improve this work. CAMEO, our monthly group for over 505, has gone from strength to strength, with coffee meetings, a boat trip outing and local speakers including our MP. This has had good attendance wrth about 30-40 members. We continued to partner w¢th Heene Church of England Primary School to serve the local community with church members taking the lead as school governors. A new Headteacher wa5 appointed during the year and plans made to join the DI0Se of Chichester Academy Trust. The Vicar and Clive Latter, ourfull time Youth and Children's Worker, have led collective worship each week and 12 school servi5 in church during the year. Collertive Worship was alsD provided for St Andrew's Secondary School. DurinE 2022 six congregation members trained to become school coaches underthe Transforming Lives for Good ITLGI Early Intervention Scheme. Each coach sees one child every week forthe whole School year providing significant encouragement and support. The PCC is funding £? a yearto buy in TLG professional training and support for our volvnteer coaches. We support local groups providing a service to the cornmunity by making our hall available at a reduced communlty rate. We support two groups working with those facing addirtion at a still further concessionary rate. Hub for the Young Youth and Children'5 activity and dTSCU5sDn groups have been provided weekly throughout the year during our 11.15 Sunday morning services. knke many churches these groups were adversely affected by the Covid pandemic. The children's groups are seeing a recovery but, despite our efforts the chiJr¢h youth 8roup on faltering so. During the year we started two after school youth drop 5e55ions for school years 7 and 8 which ha5 now developed into one much larger session. A discussion group has begun to develop from this, enabling young people to di5CUSS their worries and concerns, life cholS and opportunities. Clive Latter, our full time Youth and Children's worker, has run the Youthscape leaders tr3ining course twice during the year investing in new youth work volL(nteers. We have partnered with the Relational Hub youth charity to a$5 support ènd training. Further afield We support in prayer and finance many Christian OutaCh a¢tivitie5 in Worthing and further afield. We have personal contact with individuals and couples serving in a variety of nations and people groups. We also 5UPPOrt local and national Charities mostly with a Christian foundation such as Acorn Pregnancy Counsellin& Worthin84Refugees, Open Doors. Paro¢hlal Church Councll IPCCI The full PCC met sixtimes during the year with the PCC standin8 committee meeting in most of the month5 between. Othercommittees met between meetings and mSnutes of their deliberations were recewed by the f ull PCC and discussed where necessary.
PAROCHIAL CHURCH OF ST MAThHEW'S WORTHING Reglstered Charlty no. 1134774 Trustee< Annual Report for 2022 Safe8uardin8- Churth A Pccsub committee forsafeguarding consSsting of the Vicar, Parish Safeguarding Officer IPSOI, Safeguarding Church Warden, Lead Remjiter and Youth Leader, 8nd Safeguarding Trainer, met a number of times, reviewing our pr3ttice and ensuring our policles are up to date. The PSO orvicar reports to every PCC meeting. Risk A55essment The PCC members active review the major rtsks which the charity faS on a regular ba515 and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems will ensure SLsfficient resource5 in the event of adverse condition5. The PCC members have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks. Public Benefit The charity acknowledges the requirement to demonstrate clearly that fc fulfils charitable purposes or'aims, that are for the public benefit. Details of how the charity has achieved this are provided in thè booklet of reports prepared for the Annual Parochial Church Meeting. The PCC members confirm that they have paid due regard to the Charity Commission guidan on public benefit before deciding what activf(ies the charity should undertake. Financial Revlew Results In 2022 we saw a combined surplus across all funds of £6K. This. however, includesa generalfund deficfc of £4k,. lower than our budgeted deficf( of £llk. The main reason5 for redL*cing our projected deficit were not employing an administrator forthe latter part of the year and holding off on some non-critical repointing work to the church. This compared with a deficit across all funds in 2021 of £26k. As mentioned above, we were able to update m47ny asperts of the church buildlng thanks to a generous grft. Reserves These results leave us with a General Fund balance of £38K, almost all of which is in free, cash. reserve5. This 15 in line wrth our resee5 policy which seeks to take a risk based approach to the amount that we need to hold. Our policy states that we require between £23k and £38k to cover potential reductions tn income or increases in expenditure. Responses Regular giving through the Parish Giving Scheme and bank standing orders, supported by Gift Aid. increased by a substantial 16% in 2022. Hall ntaI5 continuedto increase as we are abpe to accept an increased nuTnber of lettin8S to outside groups lup £6KI. Grants of £IOK. supplemented our income and enabled us to cover some of the fixed costs. We a thankful for: God's continuing provision to meet our needs and enable us to grow ouroutreach to the local community God's provision, thTou8h one off gwing and grants, of the means to improve our building and, as a result, our ability to provide a welcoming environmentto those who enter OLJr church and seek to meet our vision. God's continued generosrty in enabling us to give to others through our regulartithe as well as the extraordinary amount raised from gifts, in thanksgwing forour re-equipped building, which will go to help young people in Kenya Future Although we wenta significant way towards meetingour ambitious target to InCaSe regular planned giving by 23% in 2022, things do not stand still and we are all aware of the increase in many expenses at the current time. We are thankful that we were able to obtain fixed rate contracts for our utiltties and that changing our insurer enabled us to reduce this cost for 2023. However, we still need to see an Sncrease of l(Yh in 2023. We recognise that this will be a challenge which On God can enable us to meet in the face of many households struggling to cover daily living expenses. So far in 2023, we have seen a 4% increase in regulargiving compared wrth the same period last year.
PAROCHIAL CHURCH OF ST MArrHEW'S WORTHING Registered Charity no. 1134774 Trustees, Annual Report for 2022 Trustees Responsibilities The Charities Act 2011 requires the trustees to prepare financial Statements for each financial year which gNe a true and fairview of the state of affairs of the charity and of the surplus of the charty forthat period. In preparing those financial statements the trustees are required to.. Select suitable accounting policies and apply them con515tently Make judgements and estimates that are reasonable and prudent Prepare finanaal statement5 on the going conrn basi5 unle55 it is inappropriate to presume thatthe trust will continue ir¢ existen. The twstees are responsible for keeping proper accounting records, which disc105e with re3$0nable accuracy at any time the financial position of the charty. They are also responsible forsafeguardingthe assetsof the charity and hence for taking reasonable steps forthe prevention and detection of fraud and other irregularrties. Structurefft governance and management The Parochial Church CoLsncil IPCCI has registered with the Charsty Commission as required by the Charities Act 2011. During the year the following served as members of the ParochTal Church Council: Ex Officio members Incumbent Churchwardens The Revd Canon Paul Taylor (Chairl Mrs Judith Slèney Mr Peter Parish luntil April 20221 Mr Philip Rugg (from April 20221 Elected Members Miss Nicole Beard (until ju 20221 Mr Matthew Bramley Mrs julie Mason Isecretaryi Mr Paul Mason Mrs Pam Normansell Mrs Karyn Picker Ifrorn Apiil 20221 Mr Clwe Purser (Vi-ChaIrl Mrs Maureen Rackham Mrs Angela Standen (Finance Officer Mr Philip Taylor (Treasurer until April 20221 Deanery Synod MrAlastair Pitcher Mr Philip Rugg Co-opted Members Mrs Ginny Santer ITrea5urer from April 20221 The Governing document of the char4ty is the Parochlal Church Council Powers Measure119561 as amended and Church Representation Rules. Signed on behalf of the Trustees by the Revd Canon Paul Taylor Ichairmanl Date
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH OF ST MAThHEW'S WORTHING l pOrt on the accounts of the Church forthe year ended 31 Dernber 2022. which are set out on pages 8t0 19. This reportis made solely to the charity's trustee5, asa body. in attordance wtth the Charf(ies Act 2011. My work has been undertaken so that l rnight State to the charity's trustees those matters l am required to State to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law. I do not accept or assume responsibilrtyto anyone otherthan the charityandthe charity's trustees as a body, for mywork, forthis reporL or forthe opinion51 have formed. Respective responsibilities of trustees and examiner The charity's trusteesare responsible forthe prepation of the accounts. The charity's trustee5 considerthat an audit is not required for this year under sectton 144 of the Charities Act 2011 (the Charitie5 Act) and that an independent examination is needed. It is my responsibilrty to.. examine the account5 under section 145 of the Challties Act, to follow the procedures laid down in the general Dirertions given by the Charity Commission lundei section1451511bl of the Charities Act), and to state whether particular matters have come to my attention. Basis of independent examiner's report My examination was carried out in accordance with the general Direction5 given by the Charity Commission. An examination includes a review of the accounting records kept by the charf(v and a comparison of the accounts presented with those record5. It also includes ton5ideration of any unusual ttem5 or disclosures in the accounts, and seekingexplanationsfromyou as trustees concerningany such matters.The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is eiven as to whetherthe accounts present a *rue and fair view, and the report is limited to those matters set out In the statement below. Independent examiner's statement In connettion with my examlnatlon, no matter has come to my attention: whith gwe5 me reasonable cause to believe that in, any material respect, the requirements-. to keep accountiig records in accordance with section 130 of the Charities Act,. and to prepare accounts which accord with the accountlng recordsand Comp with the accounting requirementsof the Charities Act have not been met,. or iave not been met- or 2. to which, in my opinK)n, attention should be drawn in orderto enable a proper vnderstandingof the accounts to be reached. Mr CJ Wells FCA WelLs&Co Andrews Cottage Red Lane Shipley, Hoi%ham West Sussex. RH13 8PH Date= 4 April 2023
PAROCHIAL CHURCH OF ST MAMEw.s WORTHING STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestrlcted Designated Funds Restricted TOTAL TOTAL Notes Funds Funds 2022 2021 Income •nd endowments frorn: Donations and legacies 175,908 350 130,185 306,444 176,007 Charitable Activities 4b 3,148 1,104 4,252 2,604 other trading income 16,042 16,042 10,956 Investments 4d 192 192 211 Other 1,625 1,625 3,076 Total 196.915 1.454 130.185 328.554 192.854 Expendlture on: Raising funds Charitable Activities 5b 196,771 18,631 106,612 322,013 219,417 Other 5¢ Total 196.771 18.631 106.612 322,013 219,417 Net galnlllossl on Invesbments io 18401 18401 914 Net income/(expÈndltutre) (6961 (17.176) 23,574 5,701 (25.6491 Transfers btheen funds Is 13,737) 14,815 {11,077) other recognlsed galn$/(lo$se$): Galns/llossesl on revaluaknon of flxed assets other galns/llossesl Net movement In funds 14,4341 12,3621 12,496 5,701 125,6491 Reconclllatlon of funds: Total fund5 brought ftsrward 42.757 1,310.071 5.813 1,358.641 1.384,290 Total fund5 carrl¢d forward 38,322 1,307,710 18,309 1,364,342 1.358.641 Movements on all reserves and all recognised gains and 105ses are shown above. All of the organisaticn's operation5 ore classed as continuing. Prfor year cornparative5 are stated In note 3 The notes on pages 10 to 19 form part of these financial staternents.
PAROCHIAL CHURCH OF ST MAHEW.$ WORTHING BALANCE SHEET AS AT 31 DECEMBER 2022 Unrestricted Designated Funds Restri¢ted 31-Dec-22 31-D•tr21 Funds Funds Total Total Notes Fix¢d Assets Tangible assets 1,931 1,302,358 1,304,289 1,307,764 Current Amets Cash at bank and in hand 29,864 6,466 4,148 8,347 16,383 54,594 6,466 6,319 50.039 7.306 5.481 Investment io Debtors li 2,171 Total Current Assets 40,470 8,347 18.554 07,379 81,863 Credltors: amounts falling due within one year 12 4,086 2.995 245 7.326 11,949 NET CURRENT ASSErs 36,392 5.352 18,309 60,053 50,877 TOTAL ASSETS less current li6bilitie5 38,323 1,307.710 18.309 1.364.342 1.358.641 NET ASSETS 38.323 I,307.710 18,309 1,364.342 1,358,641 Funds of th¢ Charlty General Fund 38,323 38.323 1,307,710 18,309 42,757 Designated Funds Restrirted Funds 13 1,307,710 1,310.071 5,813 14 18,309 Total Funds 38,323 1,307,710 18,309 1,364,342 1.358.641 The notes on pages 10 to 19 form part of these finanaal statements. Approved by the Trustees on w and signed on their behalf by.. Revd Canon Paul Taylor. Chair Virginia Santer, Treasurer
PAROCHIAL CHURCH OF ST MAThHEW'S WORTHING NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDeD 31 DecEMBER 2022 I. CHARrrY INFORMATION The charity (registered number 11347741 is an unincorporated body. The add55 Is St Maithew'5 Church, 103 Tarng Road, Worthing, BNII 4HB. 2. ACCOUNTING POLICIES Basi$ of Preparation The PCC is a public benefit entity within the meaning of FRS102. The financial staternents have been prepared under the Charitie5 Act 2011 and rhe Church Accounting Reguladons 2006. in accordance with applicable accounting standards and the current 120161 Staternent Of Recommended Practice, Accounting and Reporting by Charities, ISORP IFRS 10211. The financial statÈments have been prepared under the historical cost convention as modified by the Inclusion of Investrnents at rnarket value. The financial 5taternents include all tran5aCtion5, a55ets and liabilitie5 for which the PCC is responsible in law. They do not Include the accounts of church groups that owe thelr afflllatlon to another body. nor those whlch are Informal gatherfngs of church members. Crltlcal accountlng Judgements and key sources of e5tlmatlon uncertalnty In the application of the charity's accountlng policies, Trustees are reqUId to make Judgements, estimates and assumptions about the carrylng values of assets and liabilitie5 that are not readily apparent from other source5. The estitnate5 and underfying assumption5 are based on historical Èxperiènce and other factors that are consided to be relevant. Actual results may differ from these estimates. The estirnate5 and underlying as5UrnPtions are reviewed on an on-going basi5. Revisions to accounting esbmates are recognised In the period in which the estimate Is revlsed if the revision affects only that perlod, or In the perlod of the revision and future periods if the revision affects the current and future periods. In the view of the Trustees, no assumptions concerning the future or estirnation untrrtainty affecting assets and liabilities at the balance sheet date are likely to result in a material adJustment to their carrying amounts in the nÈxt financial year. FUNDS Unrestricted Funds are general fijnds which can be used for PCC ordinary purposes. Designated funds onies set aside by the PCC out of unrestricted funds for specific future purposes or projerts. Restricted Funds represent lal income Irom trusts or endowments which may be expended only on those restrlcted objects pmviéed in the terms of the trust or the bequest. and Ibl donations or grants received for a speafic object or invited by the PCC for a specific object. The funds may only be expended on the specifi¢ Object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balantt on that fund. The PCC does not Usual invest separately for each fund. Where there is no separdte investment, intefftst 15 apportioned to individual funds on an average balance basis. Endowment funds are funds, the capital of which must be maintained,. only income arising from investment of the endowment may be used elther as restricted or unrestricted Fund5 depending upon the purpose for which the endowments were established. Income Planned giving, collections and donation5 are recognised when received. Tax refunds are t091$ed when thè incoming fftsource to which they rÈlatÈ are received. Grants and Legacies are accounted for vlhen the PCC is legally entitled to the amounts due. Dlvidends are accounted for when receivable, Interest15 accrued. All other Income Is recogn15ed when It Is re¢elvable. All incomlng resources are accounted for gr05S. Expenditure Grants and donatlQn5 are accounted for when paid over, or when awarded, if that award creates a binding obligation en the PCC. The diocesèn quota or parish share is accounted for when due. Amounts received specifically for Mi55i0n are dealt with as restricted Fund5. All other expenditure is generally recognised when it is Inttjrred and is atcounted for gross. The selected pension scheme Is a deflned contnbution scheme and Is therefore represented in the accounts as the value of the contrlbudons. io
PAROCHIAL CHURCH OF ST MATTHEW'S WORTHING NOTES TO THE FXNANCIAL STATEMENTS {contlnued} FOR THE YEAR ENDED 31 DECEMBER 2022 Flnanc5al Instruments The ¢harity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial Instruments are initlally recognised at transactional value and 5ub5equently measured at amortlsed cost uslng the effectlve interest method. Financial assets held at amortised cost comprlse cash at bank and in hand, together with trade and other debtors. Financlal Ilablllties held at amortised c05t cornprise trade and other creditors. InvestmÈnts, including bonds held as part of an investrnent portfolio, are held at fair value at the Balance Sheet date, wlth gains and losses being recognised within income and expendlture. Functlonal I Presentat5on currency The functional currency of the parish Is considered to be In pounds sterllng because that is the currency OF the primary econDmic environment in whlch the charity operates. Provlslons Provisions are recognised svhen the charity has a present legal or censtructive obligation arising as a result of a past event and it is probable that an outflow of economic benefit will be required to settle the obligation and a reliable estirnate can be made. Provisions are measured at the psent value of the expenditures expected to be required to settle the obligation using a rate that refle¢ts Current market assessments of the time value of money and the risks spedfic to the obllgation. The Increase in the provision due to the passage of tirne is recognised ès an interest expense. Flx*d Assets Consecrated and Beneficed property is excluded from the accounts by s.9612IIA} of the Charities Att 2011 No value is placed on movable church furnlshlngs held by the church wardens on special trust for the PCC and which require faculty for disposal since the PCC Conside this to be inalienable property. All Èxpenditure incurred during the year on consecrated or benefice buildings and movable church fumishings, whether maintenance or improvement, is written off as expenditure the SOFA and separately dlsclosed. Land and buildings are valued at cost, amended by the church hall belng revalued in 2011 when the e¥tension was completed. In 2014 the PCC purchased 28 Cobden Read, Worthin9 at a cost of £225,000. Including the costs of purchasing the property, it has been valued In the accounts at £227,358. Depreciation.. where the residual value of a property is greater than the carrying value of the property, no depreciation of the building Is required. Land is not depreciated, $0 the value of propertles has not been split between land and buildlng5. Indlvidual iterns of equipment wlth a purchase price of £1,000 or less are written off when the asset is a¢quid. Equipment is depredated at 25Oh per annum on the straight line rnethod. Investments are valued at rnarket value at 31st December. Grants pay•bl¢ wlthout performance condltlons These are COgnised when It Is more likely than not that the economic benefits a5$0ciated with the grant wlll flow to the charlty. Golng Concern The a no material uncertainties that call into doubt the abillty of the parfsh to continue as a going concern. li
PAROCHIAL CHURCH OF ST MATTHEW'S WORTHZNG NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2022 3. PRIOR YEAR STATEMENT OF FINANCIAL ACTP4ITIES Unrestncted Designated Restricted Funds Funds Funds TOTAL 2021 Notes Income and endowments frtym: DonatlOn5 and legacies 143.662 32,345 176.007 Chatable Activlties 4b 1,619 985 2,604 other trading Income 10,956 10,956 Investments 211 211 other 3,076 3,076 Total 159.524 985 32,34S 192,854 Expendlture on: Raislng funds 5a Charitsble Activities 5b 179.297 16,089 24,031 219,417 other Total 179.297 16,089 24,031 219,417 Net gainslllossesl on Investments 914 914 Net Income/(expenditure) (18.859) (15.104) 8,314 (25,649) Transfers between funds 13,295 -7,547 {5.7481 Other recognlsed galn$/(10sses): Gainslllossesl on revaluation of fixed assets other gains/llossesl Net mov•mnt In funds 15,5641 122,6511 2,566 125,6491 Re¢oncilOatlon of funds: Total funds brought for¥Yard 48.321 1,332,722 3,247 1.384,290 Total funds carrled ftnYard 42,757 1,310,071 S,813 1.358.641 12
PAROCHIAL CHURCH OF ST MATTHEW'S WORTHING NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR TME YEAR ENDED 31 DECEMBER 2022 4. INCOME Vnrestrirted Designated Funds Restrirted TOTAL TOTAL Funds Funds 2022 2021 al Donations and legacies Planned glving Collertlons èt all servSces 135,572 3.498 3.004 28,605 757 14,748 150,320 3,498 112,981 28,605 757 134,138 88 Sundry donations and appeals Income tsx recoverable 350 109,627 3,052 23,252 604 Fund-raising events Grants 4,472 5,810 10,282 14,873 Legacies 175,908 350 130,185 306,444 176,007 b) Charitable Artivities Preschool fees and vouchers Church hall lettinos to church groups Youth and other events 3,148 1,104 4,252 2,604 Smalls receipts 3,148 1,104 4,252 2,604 c) Other tradlng Income Lettings to outside partles Parish magazine sales Photocopying income Fees from weddings etc 15,842 15,842 9,939 20 200 200 993 16,042 16,042 10,956 dl Investments Dividends and interest 192 192 211 192 192 211 e} Other other Incorne 1,625 1,625 3,076 1,625 1.625 3.076 13
PAROCHIAL CHVRCH OF ST mANEW,5 WORTHING NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 DEceMBeR 2022 s. ExpeNDITURE Unrestricted Designatsd Funds Funds Restricted TOTAL TOTAL Funds 2022 2021 a) Costs of G•n•rat5ng VoluAtary In¢tsm• Stewardship costs b) Charftable A¢tlvltle$ Church ArtSvStle$ Mission giving and donations Dlocesan parish share contributlon Salaries - Church 600 16,360 145 17,105 76.967 69.026 16,786 74,300 54,744 76,967 69,026 Salaries - Preschool Redundancy payments - Preschool Clergy and staff expenses Cleryy and staff housing Tralning 1,729 3,750 1,370 1.729 3,750 1.370 2,990 495 834 Church expenses Mlssion and evangelism costs Church services, hall & grounds, insuran Office, communications, finance, legal Depreclatlon Sunday School & Youth Group Wildflres and Youth Events 1,082 7,604 19,443 3,475 929 412 1,494 16,248 20,555 3,475 929 1,859 6,785 1.112 14,159 16,597 3,944 826 Preschool activities Church and hall utility bills 10,798 10,798 8,286 Major capital expenditure Major repalrs to the church bulldlng Major repalrs to church halllother property New building work to church, hall, housing 98,568 98,568 25,456 196.772 18,631 106,612 322.014 219.417 ¢) Other Resources Expended 14
PAROCHIAL CHURCH OF ST MAThHEW'S WORTHING NOTES TO THE llNANCIAL STATEMENTS (contlnued} FOR THE YEAR ENDED 31 DECEMBeR 2022 6. STAFF COSTS AND NUMBERS 2022 2021 Gross Wages and Salaries Employerfs National Insurance Costs Pension Contributions 60,228 4,472 3,802 48,181 2,875 3.688 54.744 68.503 Average number of employees who were engaged in each of the following athvltSes'. 2022 2021 TOTAL TOTAL Artivities in furtherance of organlsatlon's objects Management and administration There was one Youth Missioner, one Worshlp Pastor and one caretaker ernployed throughout the year. Tn addition, an administrator was employed until July 2022. No employees received emoluments in excess of £60,000 12021- None). Staff are paid through the PAYE system. 7. COMMITMENTS Tre annual commltments under non-cancellin9 op&rating leases and capital commitments are as follov+s'. 31st December 2022- None 315t Decernber 2021= None 8. FIXED ASSETS Tanglble Flxed Assots Church Freehold Equipment Total Land & Buildings Cosvvaluatio Addition 01-Jan-22 1.075.000 227,358 24.269 1,326,627 Disposal Cost at 31-Dec-22 1,075,000 227,358 24,269 1,326,627 Depreciation Charge Depreclation at 01-Jan-22 18,863 3,475 22,338 18,863 3,47S 22,338 31-Dec-22 Net Bock Value 31-Dec-22 1,075,000 227,358 1.931 1.304,289 Net Sook Value 31-Dec-21 1,075,000 227,358 5,406 1,307,764 15
PAROCHXAL CHURCH OF ST MAThHEW'S WORTHING NOTES TO THE FINANCIAL STATEMENTS {contlnued) FOR THE YEAR ENDED 31 DEceMBER 2022 9. CASH AT BANK AND IN HAND nStricted Designated Funds Restricred T¢t•l Tc*tal Fund Funds 31-Dec-22 31-Dec-21 Current and Deposit accounts Petty cash 29,761 103 8,347 16,383 54.491 103 50,OD5 34 29,864 8,347 16,383 54.594 50,039 10. ENVEsfMÈNTS Mirket value l January 2022 Net gains/llosses} on revaluation Market value at 31 De¢embor 2022 7,306 18401 6,466 Investments comprise 312 units in thè Central Board OF Finance Investment Fund IIncomel. The value of this Investment decreased by E840 from £7,306 to £6,466. Interest reiVed on the dep051t account is received into the general lunrestrictedl fund. 11. DEBTORS AND PREPAYMeNTS Unrestricted Designated Fund Funds Flestricted Total Total Funds 31-Dec-22 31-Dec-21 Trade Debtors Gift Aid Recoverable 3,666 749 4,415 1,422 482 2,467 3,014 Prepayments other Debtors 1,422 482 4.148 2.171 6.319 5.481 12. CREDITORS ACCRUALS AND DEFERRED INCOME: ANOUNTS FALLING Due WITHIN ONE YEAR Unrestrlcted Designated Fund Restrlcted Total Total Fund Fund 31-Dec-22 31-Dec-21 Trade Credltors Accruals 4,086 2,995 245 7,326 11.949 Deferred Income Other Creditors 4.086 2.995 245 7.326 11,949 16
PAROCHZAL CHURCH OF ST MArrHEW'S WORTHING NOTes TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 DECEMBER 2022 13. DESIGNATED FUNDS Balance Income Expendiiure Transfers Balonce 01-J3n-22 31-Dec-22 Catering Fund Ilall Buildings the Fund 943 1943} 1,075,000 -286 1,075,000 209 16,360 492 16,855 Vlcar's Discretionary 28 Cobden Road 1,827 227,358 4.132 1.097 1.310,071 350 1,68S 227,358 3,458 Matt's Comedy Club Men's Group 1,104 1,779 11,097) 14,815 1,454 18.631 1,307,710 Comparative amtsunrs for 2021.. Balance Income Expenditure Transfers Balance 01-Jan-21 31-Dec-21 Catering Fund Hall Buildings the Fund 1,375 1.075,000 432 943 1,075,ODO -286 493 14,650 13.871 Vlcar's Discretionary 28 Cobden Road 1,827 227,358 21.418 4.057 1,194 1,332,722 1,827 227,358 joy Hammond Project Matt's Comedy Club Men's Group -21,418 885 810 4,132 1,097 1,310,071 Loo 197 985 16,089 -7,547 The catenng fund is raised from meals vlhich. from tirne to time, are seNed in the halls for members of the church and is used to reimburse expensÈs and to pay for kitchen eoulpment as It wears out. The PCC declded to release the designation as future equipment would be purchased from general funds as it ¥vears out. The Hall Bulldlngs and 28 Cobd&n Road funds hold the valuÈ of these respective propertie5. The 28 Cobden Road fund balance represents all the costs of purchasing the property, including solicitors fees, agents, fees, etc. The fithe fund recelves ten percent of the donations to the General Fund. This Dthe is distributed amongst misslonary causes as determined by the PCC. The Vlcar's Oi5cretionary fund is held for one-off need5 Withln the parlsh which come to rhe attentlon of the staff during rh& course of their pasroral care. The fund is not artively promoted for gifts but any gifts given are held in a designated fund instead of being taken into the unrestricted funds of the parish. The Joy Hammond Project Fund repsented the proceeds of the Sale of the late Joy Hammond's home, 37 King Edward Avenue, Worthing. The PCC designated these proceeds in 2010 a5 a fund for the upkeep of St Matthew's church buildingi in accord4nce ith Joy Hammond's wlshes, but under no legèl requirement to do so. The PCC dÈcided, in 2021, to release this designation and transfer Funds back to the General Fund. which requires strengthening in order to comply with the PCC'S reseNes policy. Matt's Comedy Club is 4 club run by the church in bcal entertainment venues seeking to reach out to the comrnunity through family-friendly ¢om8dy. Men's Gmup. The PCC ¢e¢ided to release the designation as fijture expenses would be covered by the general Fund. 17
PAROCHIAL CHURCH OF ST MAThHEW'S WORTHING NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 DECEM8ER 2022 14. RESTRED FUNDS Balance 8alarice 01-Jan-22 Income Expenditure Transfers 31-Dec-22 Church Youth Work 3.050 9,467 102,000 4,810 1.539 IL,5LII 19,4671 staff Support Re-equipping Spiritual Trail and other bulldlng needs Wildfire5 98.029 6,897 3,971 2,466 4,553 Loo iiooi Misslonary Fund Youth Charlty 868 10,858 145 11,581 292 292 5,813 130,185 106,611 11 1,0771 18,309 Balance 8ilance Comparative amounts for 2021.. 01-Jan-21 Income Expenditure Transfers 31-Oec-21 Church Youth Work 18,350 9,893 3.276 22.496 4.146 19.8931 Staff Support Ipreviou51y youth worker) Spiritual Trail and other building needs Pastoral Iwildfiresl Mlsslonary Fund Youth Charity 1.277 4,553 loo IOD 1,578 292 826 1,536 868 292 3,247 32.345 24,032 15,7471 5,813 The Church Youth Work fund receives any grants or donations specifically for the youth work undertaken by the church. The general youth work. however, is funded from the general fund. One grant was underspent. The grant rnakers agreed that it could be used for gener41 youth work so the balance was transferred to the general futFd to cover expenses already Incurred. The Staff Support Fund recelves restrlcted donations for the support of any of our church staff. and Is used to fund their costs of employment. All staff salary costs a budgeted and a¢¢ountÈd for solely In the General Fund, 50 the Staff Support Fund transfers ts balance to the General Fund at year end. The Re-equipping fund received speciflc donations to enable the church to undertake major work to 1Sghtingi seatingi sound, the electric5 and the stonework of the church as well a5 Other a550ciated works. The Spldtual Trail Fund receives donatlons to spend on installing benches and art in the garden on the south slde of the church. In late 202L it 41so recelved a restricted donation to cover the c05t of asbestos removal work undertaken in January 2022. The Wildfires fund was for Income and costs related to parish rnembers attendlng Wildfires. As this expenditure will be covered from general funds in future years, the small opening balance was transferred and the fund Closed. The Mi55ionary fund Is for donations rettived for specific mission5 SUPPOrted by the Parish and is separate to the tithe fund whlch is a proportlon of total giving. The Mission Committe& are working to distribute the sm611 balance carried forward as soon as possible in 2023. The 2022 balan includes gifts of £10,648 collected for Morning star In recognition of the £102,000 donations towards the Re-equlp project. These are being hÈld until such time as planning permission is granted for the Morning Star pmlect. The Youth Charity Fund is for major youth events le.g. foreign trips). The balance has been carried forward for several years and the PCC wlll work to determine how to utyllse the remalnlng balance. 18
PAROCHIAL CHURCH OF ST MArrHEW'S WORTHINfj NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 DECEMBER 2022 15. TRANSFERS BETWEEN FUNDS Llnrestricted Oe5ignated Restricted Operatlonal transfers between funds: Fmm General Fund to Tithe Fund - IO% vf general giving From Stsff Support to General Fund to part-fund salaries From Wildfires of opening balance to cover general fund expenses Derestrict catering fund Derestrict rnen's group fund From Churth youthwork fund to general to cover expenses IL6,8551 9,467 loo 16,855 9,4671 iiooi 943 (9431 11.0971 1,097 1,511 11,5111 3,7371 11,077 n$ttted Deslgnated Restricted Comparatlve amounts for 2021.. the from General Fund {13.8711 21.418 9.893 13,871 121,4181 Release the designation of the Joy Hammond Project Fund Transfer from Staff Support to General Fund to part fund salaries General Fund transfer to Church Youthwork fund, to cover balance of cost of Youth Centre 19,8931 4,146 14,1461 13,294 17.5471 15,7471 Ifj. PAYMENTS TO PCC MEMBERS AND CONNECTED PARTIES 2022 2021 Number of elerted members who were paid a wage Total amount paid 545 Matt Bramley was paid for occasional cleaning and caretaking cover as above. ThÈ PCC has continued to support the work of Phil Rugg with AWM-Pioneers financlally duTrg 2022. This is part of a longstanding commitment of the PCC to support the work of AWM-Pioneers, predatlng Phil joining the PCC in Ortober 2020. Phil took no part in the PCC éecision to maintsin this comrnitment in 2022. The PCC engaged Monetaire 2017 Payroll Lirnited, a company wholly owned and rnanaged by Ginny Santer to provide payroll services. This engagement predates Ginny joining the PCC. Apart from the normal 1mbur$eMent of ministry expenses io staff members and PCC mernbers, no other amounts were paid to PCC members, or related parties, in 2022 Inil in 2021). 19