Trustees, Annual Report and Financial Statements of the Parochial Church Council of St Matthew's Worthing Registered Charity no. 1134774 For the year ended 31 December 2023 CONTENTS Page Trustees, Annual Report Report of the Independent Examiner Statement of Financial Activities Balance Sheet Notes to the Financial Statements 10-19 St Matthew'5 Church. loa Tarring Road. Worthin& BNII 4HB Webslte.. www.stmatthewsworthing.org Incumbent.. Canon Paul Taylor, 53 Bath Road. Worthin& BNII 3PQ Independent Exominer". Mr C J Wells. Andrew5 Cotta8e. Red Lane. Shipley, Hor5ham. W Su55ex RH13 8PH Bonkers.. Lloyd5 TSB Bank Plc. South Street. Worthing St Matthew's Worthing
PAROCHIAL CHURCH OF ST MArrHEW'S WORTHING Re81stered Charity no. 1134774 Trustees. Annual Report for 2023 Objectives and Activities The primary obje¢tive of St Matthev/s PCC isthe promotion of the Gospel of our Lord Jesus Christ according to the dortrines and practices of the Church of Enand. The PCC ha5 the responsibility of COPeratIng with the incumbent in promoting in the ecdeslastical parish the whole mission ol the Church pastoral. evangelistic, social and ecumeni1. Achievements and Performance Pursuing our Vislon In 2023 we have contin¢Jed to develop St Matthe5 Church in accordanee with our agréed vision as follows Our Why? (Purpose) Believing In Worthing We believe in our town and lotal community and we want to invest in it in every way we can, playing our part in making It a great place to be. 8elievitt8 in God inspires our believin8 In Worthing. St Matthew's Worthing Our What? (Vision) Overthe five years April 2019. April 2024 we want to IntrÈasin8ly be... An inspiring church the church is the people and we are called to 5eNe God 24 hours. a day. 7 days a week. To be effective we must have white hot faith. on fire in our experience ol God. We gather in groups and on a Sunday for inspirinB worship and effective equipping to rÈnew our vision to serve and proclaim Jesus. A catalyst in the community- we want to be a community hub. 'a village in a town. where local people find Community, support and encou¢a8ement in the ups and downs of lile. We want to t¢e è vibrant, seven day a week, centre for work with young and old. A hub for the young- M15510n to youth. and those in their 205 and 30$, is a particular target lor us. We have a full-time youth missioner and we partner with a number of local schools and we plan to invest further In developing this work. Our How? (Values) Depend on our Father- Everythin8 we do needs to be 8uided by prayer that we may learn to live wisely, seek justice and treat our planet with respect. Share Jesus. love We read God'5 inspired word that Jesus may be the centre of our life together. Jesus is the hope for our town. nation and wofld. Know the Spirit's presence As we worship together. we are transformed by the Holy Spirit and propelled out to humbly serve our needy world.
PAROCHIAL CHURCH OF sr MAHEw's WORTHING Reglstered Charity no. 1134774 Trustees, Annual Report for 2023 Words that are important to us... Family- 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 frorn across the world. We are a real church family where everyone and anyone cèn belong. Forgiveness one of the thin85 that we have in common is that we all 8et rhings wrorTrg. Whether or not you think your life Is 50rted out. we know that we all need God's help and each other's acceptaace and love. Fruitfulness - we are all 'work In progress,, but we are (gmmitted to grow and serve. discover our gifts and offer our lives as we grasp ever more deeply what it means to be chosen by God. Progress this year... Insplrlng Church We have grown in numbers on Sun<Jays at 9.30 with a usual attendance of around 90-100 adults. Our new 11.15 congregation average5 around 60 adults and 20 children but numbers are more unpredictable. There has been an encouraging increase in both the number5 and frequency of attendance of those under 18. We still live stream both Sunday services every week and around 10-15 household5 watch frorn home mainly at 9.30am. Friendships are made and nurtured, the big quèstions of life are examined, faith Is expressed In worship preaching and prayer. A team of lay and clergy preachers 35S1St the Vicar. Our music band and technical team practise every Thursday evening and commit a further 5 hours on a Sunday ensuring that we can stream our services and th3t sound and vision In the btsildiftg is of a high quality. Our Worship Pastor Joe Shyrmer appointed in 2021 has been supporred in this task by committed volunteer leaders and team. Congregalional members lead and run many different groups durin8 the week. Our Men's work has continued with regular breakfast meetings and the Wornen'$ group have regular breakfasts and social evenings. Ten Life Groups met, mostly twice a month, sn homes to study the bible, pray and Support each other. The Alpha course ha5 been run for ihrjse new to faith and welcome teas for those new io St Matthew's communitv. We are progressing towards the Church of England's aspiration to be carbon neutral by 2030 and have fitted 17 solar panels to the south roof of the church providin8 much of our electiical needs in both the church and the hall. This was funded by grants including one from the Rampion Fund. We are planning to replace our current gas boiler serving the meetin8 rooms and office with an air source heat pump during 2024. We will utilise ihe £7,500 government grant available, supplemented by our own funding. We are In rhe early stages of planning an insulation project to the church hall by adding a suspended ceiling. We are planning a project to improve toilet provision and other new rooms by removing the disused p¢pe organ and remodelling the space released. Catalyst in the Community We have invited the whole community to four major fun days including crafts, activities and food and drink completely free of charge. Many from the community have joined In with services at Christmas and Easter and we have regularly delivered Invitations to event5 and services to most of the 1700 homes in the parish. Holiday Lunches were cooked and served to local families durin8 school holidays. This year 662 hol meals were served free of charge Icompared to 511 in 20221. St Matt's Meals continued to provide three days, worth of free
PAROCHIAL CHURCH OF ST MATfHEW'S WORTHING Registered Charity no. 1134774 Trustees. Annual Report for 2023 food for any local families Of individuals who requested it. This year 2,010 main meals were provided (compared to 752 in 20221. This food w35 provided by gifts from congregational members and from 8raTrt funding. Our Thursday parent toddler group. Sparklers, has t>een busy in term time all year providing a laoe well equipped free play space, son8 time. frutl Snack for the children. and coffee and cake for the Mums. Oads ènd Carers. This is staffed by a Volunteer team. 'Coffee on the Cofnerf, a coffee and cake cafe ran every Tuesday and Wednesday morning in church throughout the year. Aimed at l¢xal people connecting with each other. this attratted both Ial retired people and young mums znd dads wilh presthool children. This is a non-profrt venture aiming only to cover costs at)d some of the heating costs incurred. An average of 20-35 people have attènded each time. It is njn with a volunteer team Irot31 of about 30 people with 4 volunteers involved in each session. During the wnter we 81stered this café as a warm space on various public websites. CAMEO, our monthly group for over 50$. ha5 gone from strength to streth. WFth coffee meetin85, a boat trip outin8 and local speakers. This has had gocJ attendan with atJut 3040 members. We continued to partner with Heene Church of Eneland Primary School, now part of the Diocese ofchichester Academy Trust. The VKar and Clive Latter. our full tim Youth and Children's Worker, have led collective worship each week and 12 school services in church durin8 the year. Collective Worsh¢p was a0 provided for St Andrew's Secondary School. Durin8 2023 thre• tongregation members served as xh1 toathes under the Transforn)ing VeS for Good ITLGI Earty Intervention kheme. Each coach 5ee5 one thild every tweek for the whole school year providin8 sianificant encoura8ement and support. We support local group5 prowdin£ a service to the community by making our hall available at a reduced community rate. We support two group5 working Wlth those facing addiction at a still further Coll5510ndry rate. Hub for the Young Youth and Children's attiviiy and discussion groups have been provided weekly throughout the year during our 11.15 Sunday morning services. Our alter school youth drop sessions on Tuesdays and Thursdays enable youn8 people to discuss their worries and concerns. life choices and opportunities. Clive Latter, our full time Youth and Children'5 worker, has run the Youth5cape leaders training course during the year investing In new youth work volunteers. We have partnered with the Relational Hub youth charity io access support and training. Further afield We support in prayer and finance many Christian outreach attNi(ie5 in Worthinq and further afield. We have per50nal contact with individuals and CoUt$ serving in a variety of nations and people groups. We also support local and national Charities mostty wyth a Christian foundation suth as Acom Pre8nancy CounsellirÈ& Worthin84Refu£ees and Open Ljoors. Parothial Church Councll (PCCI The full PCC met SIX times durin8 the year with the PCC standing committee merting sn most of the months between. Other committee5 met between meetin85 and mine5 of their deliberatK)ns were receed by the full PCC •nd diKussed where necetsry.
PAROCHIAL CHURCH OF ST MArfHEW'S WORTHING Registered Charity no. 1134774 Tru5tee< Annual Report for 2023 S¥frfrdl. Churth A PCC subcommittee for Safeguarding consisring ol the Vicar, Parish Safeguarding Officer IPSOI. Safeguarding Church Warden. Lead Recruiter. Youth Leader, and Safeguarding Trainer. met a number of times. reviewing our practice and ensuring our policie5 are up to date. The PSO OT VKar reports to every PCC meeting. Risk Assessment The PCC members actwely wiew the major risks which the charity fates on a regular basis and believe that maintaining the free reserves Stated, combined with the annual review of the contro15 over key financial systems will ensure sufficient resources Ill the event tsf adverse conditions The PCC members have a150 examined other operational and business risks which they face and confirm that they have established systems to rnitl8ate the Public Benefit The charity acknowled8e5 the requirement to demonstrate clearly that it fuifils charitable purposes or'aim5' that are for the public benefit. Details of how the charity has achieved this are provided in the booklet of report5 to the Annual Parochial Church Meeting of its many minisiries. The PCC rnembers confirm that they have paid due regard to the Charity Commission guidance on public benefrt before deciding what activities Ihe eharity should undertake. Financial Review Results In 2023 we saw a combined surplus across all fund5 of £13K. This includes è general fund deficit of £6.Sk, however this was lower than budgeted and reflects our continued aim to utilise the gifts that are given and to keep our reserves within our stated target. We have continued to Invest in the future of our building, to which the new solar panels attest. Reserves These results leave us with a General Fund balance of £32K. all of which is in cash reserves. This is in line with our reserves policy which seeks to take a risk based approach to the amount that we need to hold. Our policy states that we require between £27k and E35k to cover potential reductions in income or increa5e5 in expendituTe. RÈsponses Regular giving through the Parish Giving Scheme and bank standing orders, supported by Gift Aid. increased by 8% In 2023. Hall rentals stayed fairly static at around £15k. We were blessed by 8rant5 01 £25k, the most significant of which covered the cost of the solar panels and an associated energy efficiency audst. Wè will act upon some of the recommendations in that audit in 2024 as we seek to move iowards greater sustainable ener8y Usage. We 3re thankful lor- each and every donation we receive. whethef small or large and the people behind the giving. God's continued provision, through one off giving and grants. of the means to become a rn0 sustainable church which will, in the1onger term. enable us to support the local community whilst embracing cleaner energy sources. Two legacies received from long time members of our church family which, alon£ vlith a donation from one of their family members, has enabled u5 to employ a Women's and Fam*ty Worker early In 2024 and to fund this until Such time as general giving can increase to meet the need. God's continued generosity in enabling us to give to othefs through our regular tithe and the opportunity foT AI Pitcher to travel to Kenya1ater in the year to be a part of utilising the lunds raised to build the vocational school facility there. Future Whilst the ehurch's finances are healthy and the reserves are where we need tbem to be, we recogni5e that costs do continue to rise_ We have continued to benefit from fixed price energy contracts since before the large risès in those costs in 2022. These will continue through 2024 but will come to art end in 2025. We need to increase our givin8 in 2024 by IO% in order to fund increases in salaries and the Diocesan contributions along with our other overheads and to continue to maintain our OUtath to, and contacts with. the local communitv.
PAROCHIAL CHURCH OF ST MAThHEW'S WORTHING RÈ8istered Charity no. 1134774 Trustees. Annual Report for 2023 Trustees Responsibilities The Charities Act 2011 requires the trustees to prepa financ¢al Statements for each financial year which give a true and fair view of the state of affairs of the charrty and of the 5urplu5 of the chanty foi that period. In preparing those financial statements the trustees are required to.. Select suitable accounting policies and apply them consistently Make judgernent5 and estimates that are reasonable and prudent Prepare financial statements on the 8o+n8 concern basi5 unle5S It is inappropriate to presume that the trust will continue in exisrence. The trustees are responsible for keepin8 proper accounting records. which disc105e with reasonable accuracy at anv time the financial position ol the charity. They are also fe5ponsible for safeguardin8 the assets of the charity and hence for taking reasonable Steps for the preVentn and detettion of fraud and other irregularities. Structiire. governance and management The Parochial Church Council IPCCI has re8lStered with the Charity Commission as required by the Charitie5 Act 2011. During the year the following served 35 members of the Parochial Church Council: Ex Officio mernbers Incumbent Churchwardens The Revd Canon Paul Taylor Ichairl Mrs Judith Slaney (until April 20231 Mr Phsllip Ru88 Mr George Rackham lfrom April 20231 Elected Member5 Mr Matthew Bramlev Mrs Julie Mason (Secretaryl Mr Paul Ma50n Mrs Pam Normansell Mrs Karyn Picker Mr Clive Pursèr (Vice-chairl Mrs Maureen Rackham IPSOI Mrs Ginny Santer (Treasurer) Mrs Judith Slaney Ico-opted May 20231 Mrs Angela Standen (Finance Officer) Deanery synod Mr Alastair Pitcher Mr Phillip Rugg Mr Philip Taylor Ico-QPted May 20231 The Governing document ol the tharity is the Parochial Church Council Power5 Measure119561 as amended and Church Repfesentation RLbles. Signed on behalf of the Trustees by the Revd Canon Pa Taylor (Chairman) Date
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH OF ST MATtHEW'S WORTHING, CHARITY NO. 1134774 I report to thetrnstee5 on my examination ofthe accounts of the charity l-thè Trusfl for the year ended 31 Dernber 2023, set out on paees 8 to 19. Respective responsibilities of trustees and exarniner As the charity's trustees, you are responsible for the preparatfjon of the attounts. In acrordanee wth the requirements of the Charities Aci 20111lhe kfl. I Yert in respect of my examination of the T5 accounts carried out under seLtw)n 145 of the 2011 Att and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commlssion under sertion 14515llbl of the Act. Independent examinerfs statement The TrusV5 gross income exceeded £250.Cm and l am qualrfied to undertake the ex•nination by being a ouallfied member ofthe Institute of Chartèred Accountants of England and Wales. I have completed my examination. I confirm that no material matters have ccrfne to my attention in connection with Ihe examination which gNes me cause to belie¥e that. in any material respeci-. the accountin8 records were Th)1 kept in accordance with seckion 130 of the Charities ACL. or the accounts did not accord with the accounting recorits,. or the accounts did not ccmnply with the applicable requirements concerning the fomi and content of accounts set out in the charits IAccounts and Rewrtsl Regulation5 2(#J8 other than ary requirement that the accounts give a 'true and fairf view which is not a rnatter considered as part of an independent examination. I have fio concems and have come across no other matters in conftertn with the examInatn to whh attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mr CJ Wells FCA CJ Wells & Co Andrews Cottage Red Lane Shipley, Horsham West Sussex, RH13 8PH DateQl March 2024
PAROCHZAL CHURCH OF MArrHEW'S WORTMING STATEMENT OF F114ANCIAL ACTivmES FOR THE YEAR ENDED JI DECEMBER 2023 Ufire5tnaed Deggnated RestnLted Funds Funds Fynds TOTAL TOTAL Notes 2023 2022 Donavons and legacies 213,123 32,664 245,787 306.443 Charitable Activities 4b 2.601 576 555 3.732 4,252 Other trading income 14.870 14,870 16,042 Investrnents 192 Other 1.864 1.625 Tota5 233.402 576 33,219 267,197 328,SS4 Exp¢ndlture on: Raisiw fnI$s Charltable ALvitse5 Sb 214,463 19.073 20.939 254,475 322,013 other Total 214.463 19.073 20.939 354.475 321013 Net 9ainlllossl on Investments LO 587 587 18401 Net In/{•xPedIlYr•) 19.526 118.4971 13,JlJ9 S.701 Transfers between fund5 15 (25.994} 34.039 {8.0451 oth4r rncognised 9aSns/(knsso•l: Gain5111ossesl on revaluatyoD of fixed assets Other gain4llosses) N•t fflo¥emertt In fur5 16.4681 15.542 4.235 13,309 5.701 A0¢11$•110rt of fund5= Total fvnds brou9ht forward 38,322 1.307.710 18.310 1.364.342 1.358,641 Tot•1 lunds rarri*d forwar 31.854 1.323,252 22,S45 1,377.651 1,364,342 Movemènts on all rÈser¥es and •ll recognised gatrns and losges are shown abtrde. All of the OfganlSabon's operations are cla55Ed as contsnuing. Prior year comparntives ère stated in note 3 The notes on paoes 10 to 19 form part of these finanual statement
PAROCHIAL CHLlfi¢H OF sr MAtW.$ WORTHING BALA14CE SHEET AS AT JI DECEMBEA 2023 ljnrestncted De&gnated Aestnct Funds Funds Fun¢JS 3l-l>•c-2J 3L-D•c-12 Total Not FIM41 A¥••ts Tangle assets 1.302,3S8 1.302.358 1,304.289 Curr•rtt Ass•ts ash ai bank and In hand 19.QJ4 23.394 22,792 65,220 7,053 9,?06 54.594 6.466 6,319 Investrneni io 7.053 9,26) DebtDf5 35.350 21394 23.135 •1.•79 67,379 Cr•dlt•r•: thmounts f•llln• due ilhiTr one year xi 3,496 690 6,686 7,326 NET CURAeNT AsseTS JI,8S4 20.694 22.54S 7S.29J 60.093 TOTAL ASSITS less c¥rr•nt Il•bilities 31,854 1.313.252 1154$ I,J77,051 1,364,Y42 NET ASSETS Jl.854 1,323,252 21545 1,377,651 1.314.342 Pund• ol lh• Ch•rfty Generol Fund Jl.854 31,8S4 1,323,252 Z2,545 38,323 1.307,710 18,309 Designated Funds Restdcted Funds 13 1,323,252 14 22.545 Tot•1 Pundj 1.323,2S2 2154$ 1.377,651 1.384,342 The not•s on paoes LO to 19 lorm part of th¥e fln•ndal t•tuiients. Appfoved Oy the Trustee$ on 21 March 2024 ènd $19rnd on thr by.. R¢vd Canon paul Toyknr, Chalr ryinia Santer, Treasurer
PAROCHIAL CHURCH OF ST MATTHEW'S WOATMZIIG P4QTE5 TO THE FINANCIAL STATEMENTS FOR THE YEAA ÉMoeD 31 DÉCÉMAÈA 10 I. CNARITY INFORMATIOII The charity {re9lStered number IL3477411s an untycoq)wated bo(ty. The address Is St Matthe¢4's Church. 103 Tathng Road, WorthiDg, BNIL 4H8. 2. Accouf4llNG POUCX¢S Basls of Preparatlon The PCC IS a puNSC berr enknty within the t))eartity of FRS102. The finanoal 5tatemwts have been popartd under the ehadtie5 Act 2011 and the Church Accounting Regulations 2006. In a¢tOrdante with èpplitatrie accounting stanaarfs ènd the current 120161 St8ternenr Of Recommended Prartice. Accounting an4 Reporting by Chantbes. ISORP IFRS 102}1. The finènciai statemtnts have been pTtParEd under the h15toncal c95t convention •5 rnodified by Vle indusign of Inve5trnent5 at rnarket Value. The nnancial staternwts Include all tran&)thons, assets and Iiabilityes for which the PCC 15 responsible In law. They do ot Indude the accounts of (hurth grDup5 that owe their affiliation to another body. nor those whith are 9athenngs of churctt members. Critical Iccountirw judqefflents and key sour$ of estimation uncethinty In the application of Lhe charity's accounting policies, Trustees are required to make jvtl9emits. estimates and assvmpknons about the carrying values of assets ana liabilities trat ao not readily apparent from other Sources. Tre estirnate5 and underfying a5svmptions are based on hisiontal experientt èno Oiher factors thal are considered to be rdevant. Artual results mèy differ from these estimates. Tfve e5timate5 and unlledying assumptions a reviewed OD an OD¢yng bas15. Awsions to accounting e5timate5 are recogn15e<l in the penod In which the estsmate IS revised IF the revigon alfeits only that pad, or In the period of the revisityn and future penods Ir the vISion affects the Current and fiJture pEnodS. thè vlew of the Trustee5, no assumpbws concerning the fiJwrE oresbmation uncertainty afferting 4ssÈts and Iiabilityes at the balance sheet date are 1ikdy to 1t in a material adjustrrwt to their Cafrying amounts In the next financial year. FUNDS Unrestritted Funds are general funds ¥thich can be used lor PCC ptsrpD5e5. Oesi9nated fund5- monies set a%+Je by the PCC wt of unrestn(tEa funds for f¥iure wrw5e5 0¢ pft)Jects. Resrrlcte¥ Funds represent (a) Inc(xY)e from irusts rK endLvwments ¥Thich May be expended only ort those restnctod objetts provided In the terms ol the trust or the beouest, ènd Ibl donations or qrants rECVed for a specific object or Inyiteo by the PCC for a specific object. Te funds may onlv tye expended on rhe specific object for which they weo 9iven. 14ny balante remainin9 unspent èt the end of each year must be camed forward as a baknce on that fvnd. The PCC does not U5uallv Invest separatdy for each fvnd. Where there 15 no separate inveStrn¢. interest IS apportioned to indiwdual funds on an averaqe balJnce basis. Endowment funds are funds, the caoital of which rnL& be maintained., Incume ansing frtyn Investm2nt of the endov4rnent may be used eirher as restnaed or unrestncted fvn¢Js dependin9 UkX)f the purp for which the en(Iowmts were e5tablis)ed. IDrome Plann& giving, cdlectsons and donatrons are reCogn&Y when rerrived. Tax refvnd5 a recrynised when the IOrning resource to wtrich the¥ relate are received. Grants and Legac1 are accounted for *hefi the Ffc is laially eotitled to the amounts due, Dividends are accounted for when receivable. Interest is accrued. All Other Income IS fecogn15ed when It Is rt¢eivbble. All Incoming resources are accounted for gross. Exp•ndlturn Grants ènd donabons a accounrea hen paid over, or when tyWaed, If that award creates a binding obli9ation on rhe PCC. The dloce5an ¢uota or parish share IS accounted for when due. Amounts received spificallY for Mi55ion are deair with as restnrted nds. other expenditure 15 generally recogn15ert when rt Is Incurred and 15 atcounted For gw. The sdected pension xheme is a defined cwtnbutson 5th•e and 15 therefore represented in the accounts as the value of the contboIs. io
PAROCHIAL CNLIACH OF sr 14ANEW,5 WORTHZNG MOTES TO TME F114ANCIAL STATEMENTS {contlnuedl FOA TME YEAR eM0É0 31 DECEMBER 1023 Flrt•ntl•l Instrurn•nts The ch•rlty ha$ finaneial assets Jnd financial li0111$ ol a kitK1 that qualify os bask flr¥anaal In$truments. Ba51c financlal instrument5 are Initially reco9nlsed èt trtn5actaoryal ¥alue and 5ubseguently measured èt amort15e¢ cost U51ng the effective Inteost method. FIDancial assets held at amortised c05t CoMSe Gh at tyank and in hand. together with trade and other oebtors. Financial liabilitie5 held at anvjrtised cost compnse trade other (re(titors. Investrnent5, Includinq n4$ tteld as part of an InvestrI¢ portrdk4. are hdd ai f•r Or lanCe Sfieet date, vAth galns ana losses being recogn15ed within Income ond expenditure. Furbctlonal I Pt¢Mrtt•tl•n Eurr•nrv The funcrionai currency ol the pafish IS collttered ro be In p)yThds ttedbn9 ber•use that Is me eurrtnry of the pnm•ry onoMI environment In whlch the chéntv opwates. Pt•vlsl•n• Provl$lon$ are r¢co9nl%ed when th• Cha1¥ hès a Kytsent Wl or c¢nstrurtive obli9•tiM •ri%n9 as a wull of a p•5t tvtnt ènd It i prDbable that an outhow ol econornlc benefif svill be r•qulre¥ io %rfde the obll9atiOn and a rellat estimate can be made. Prov151ons rnea%ured 41 the preseni walue rf the exp¢nditwre5 expected to be required io the ¢1at10Th u$ing i raie t•[ reflects curreni market •$ses5meftts of the tirne value of and the nsks speciAc to the 0•111. The iocrease In the provision due L¢ the passage of time 15 recognised as JD Interest expense. Plx•d A•••t• Consecrated and 8enenced ryop¢rtY is •(11• Irom the Kcourtts by s.96(1){Al ol ihe Chafrtles Act 2011 No volue Is olactd on rnov?ble thurth lumishihgs helt1 by rhe church wèrdens M speci•l trust lor the PCC and reqvire • l•culty lor tjisposal since the PCC <on5iders tni$ 10 oe InaiienaDl• property. All expenoitvre incurred durfng ihe yar on c¢Thsecrated or bertefice buildlngs and mo¥ots churth fvm15hin9s. hether maintenanc¢ or Improvement, Is wNtt•n Off as e¥pendlturt Itl the SOFA and separately dilclosed. Land and b¢Jildlng w41ed at cast. by the h•ll boing r•valued Ith 2011 when the exten5lOh sY•s ctympleted. In 2014 the PCC purchased 28 Cobden Rood, Worthing at è cost ol £l25,000. In(ludln9 the co$ of pur¢h•sin9 the propertv, It ha• been Yolued lty the acctyjnts •t É227,358. Depreciatiort vlhere the rnslduai value of • proporty IS ore•ter than th co19 ¥•lue of the property, rFO aetyeciation of th• buildity4 1$ reaulre¢. Tha Is not deprttl•t¢d, 50 the value ol properties Ms not been Wit bttween land and bulldlng5. Indlyidual iterns of equlprnent with a purthase pnte of £l,QOO or lem •r• wdtten orr h•n the asset Is acqulr¢d. Equiprnent Is aeptec14ted at 25 ptr Innurn on the strèilht line method. IrV•StmeDts are Valued •t maret value at 31X Decernber. Gr•nts p•yabl• wlth•ut p•rforninc• ¢ondltlon• These are recogni5ed whffj it Is more likely th•n ncrt that the xonomlc bertefils assodated with the 9rant VMII now to the tharfty. Golmg Corbc•rn There are no Mate11 ynrertainties that ull iThto drvJbt the atslity ol the to continue •$ a going concern. li
PAROCHIAL CMLIRCA OF ST mANEW.5 WQRTH114G NOTES TO THE FIMA14CIAL STATEME14TS IcofitiThtsed) FOR TME YEAA EWIDED 31 DECtM8QA 1023 3. PRIOR YEAR STATEME14T OF FTIIAP4¢1AL AcfivTfiES TOTAL 2022 Notes Funds Funds Funds Tncom• ar •hd•wrtwnt• Irom: Donaiiong and legacies 175,908 350 130.185 306,443 charitab Actl¥ltl•s 3.148 4,252 Other tradlD9 Incom¢ 16.042 16.042 Inv¢¥trnent¥ 192 192 Other 1,62S 1,625 Tot•1 196,91S 130,185 320.554 expendlture on: A•ising lund¥ ch•tab Actyvltyei 196,772 18,63Q 106,611 322.013 Other Tot•1 19fj,771 1•.630 106.611 J22,013 Nèt g•ifi$1i1055•51 on Inv¢stmenis 1840) 1840} 14•t Incoffl•/{•xp•ndltuv•} 16971 (17,1761 23,574 5,701 Trnnsfers btheen fiJnds 13.739) 14.8l5 111,0771 Oth•r r•coqnlMd ••ln•llloswl: G4ifi511l¢sses1 on revaluation of fiAed •ss•is Other gain51110sse$l 14•¢ Mw•ffl•nt In fund• (4.4351 12.3611 12,497 5.701 A•£onc611•tlo• •f ltsnds: Total funds brought loryiar 42.75? 1,310,071 5.813 1.358.641 Total lunds e•rrl•d lorward 38,322 I.7.?10 1.364,342 12
PAROCMIAL CHURCII OF ST MAE.5 WOATHIIIG 140TES TO THE F114AMCIAL STATEMEP4TS 1¢ontinued) FOR THE YEAR eNDC0 31 trECEMBER 2023 4. 114COME Vnrestncted Desi9na¢ed Restnrted Funds Funds Ftsnds TOTAL TOTAL 2023 2022 •) Don•tloni •nd l•gacl Planned glvlng C¢114Ction$ at è115qrvi¢e5 L56.194 7,469 163,663 4.383 ISO.320 3.498 4.383 Sundry donatyons and èpp•als Income tom recoverable 7.550 19,212 1.218 4.556 2.783 1.762 10.333 30,984 1.218 25.206 10.000 112,981 28,605 757 Fund-roislng events Grants 20.650 10,282 LegJc1•5 10,000 213.113 32.064 245.787 306,443 bl Ch•rlt•bl• Adlvltb•• Prekh¢d fe¢s and vouthers Church hall knID95 to churth 9roiips Youtn ènd other evw 2,601 576 555 3,752 4,252 Smèlls receipts l601 SSS 3,731 4.2S2 ¢1 Othw tr•dlng In¢•m• L•ttin41 to Outsid• p•rti•* Parlsh mapazine ules Photocopying Incon Fms Irorn wtddingl rt 14.35S 14,355 15,842 515 sis 200 14,870 14,•70 16,042 d) Inv••lrn•ilts Dividends and Interest 192 192 •) Oth•r Othtr fncome 1,864 1.864 1.625 1.864 I,JJ64 1.625 13
PAROCMIAL CNUFICN OF sr mAEw.s WOAThING NOTES TO THE FINAP4CI4L STATEMENTS (contihts*d) FOR THE YEAR EIIDED JI DÉcIM8eR 2023 S. EXPENDITUAÉ Unrestnrted Deggnated Re5tncLed Funos Furtds Funds TOTAL TOTAL 2023 2022 •} Co¥r• •f G•n•r•tlrty Volutyt•ry 1th¢om• scewardship costs bl Ch•fft•bl• ArtlvSV Chur¢h A¢iivltl Mission giving ano donations Diotesèh pèrlsh snare corttdt#Jtlthi Salarie5 Churth 600 i?.S80 2.162 20,642 78,795 75.629 1.87S 3.862 S85 17,IOS 76,967 69.026 1,729 3,750 1.370 7e.795 75,629 1.875 3.862 585 Clergy and Staff expen5t$ Cleryy and stolf hou4n9 Chufch •xp•nq•# Mission ana evangel5 toxts Church servlce¥. h•ll & grounds, IngJranc• Office, Communitatyons. flnance. leg epr•cl•tlon Sunday School & Youth Grou wiidrires •n¢ YtsUtTh Events 2.270 15,791 21.577 1.931 1.493 1,292 5,0SS 15.791 21,877 1,931 1,494 16,248 20,554 3.475 929 1,093 1,093 10,437 10,437 10,798 Major G¥pii•l •xp•ndltuv• Major repairs to the church bulldin9 Major rep8iTS to church halllotmr prowty New building work to church, hall, housing 1S.792 15,792 98,566 214,463 19,073 30,93• 254,475
22,013 ¢1 l>th•r R•MUK•A Exp•n4l•d 14
PARQCNIAL CNUACM OF ST MANEW.$ WORTMING NOTES TO THE FINAP4CIAL STATEMEflTS {£orttlnued} FOR THE YEAR ENDED 31 DECEM8ER 2023 6. STAFF COSTS A140 NUMBERS 2023 2022 Gros5 Wage5 and Salaries Emthoyerfs National Insurance Costs Pension Contnbutions 66.234 60,228 4,472 3,802 68,502 4.556 4.839 75,629 Average number of employees who we* •)ga9ed In each of the tslowifftg ¥tivitles.' 2023 TOTAL TOTAL Artivifies In fijrtherance of organisatio•'s objerts Management and adrninistration There was one Youth Missioner. one Worship Pastor and one caretaker empk)yed throughout the year. In addOn. an administrator a5 emoloyed from February 2023. No employees received trnolurnents In excess of E60.000 12022." None). Staff aye paid thTOU9h the PAYE sy#em. 7. COMMITMENTS The annual commitments under non.carlIn9 operatiThJ lease5 arwj Ukxral cornrnitr))ents are as rlOw5.. 3l# December 2023". None 31# Detefflb 2022. None 8. FIXED ASSETS Tanglble Flx•d Assets Church FIhOld EqUipMt Trjtal La Bulldiogs C05VvaluatlOD Addition 01-Jan-23 1.075.000 227.358 24,269 I,326,627 015oosoI cost at JL-Oec-23 1.07S,000 227,358 24.269 1,326.627 Oepre¢iatlon Charye Deyeciation at 01-Jan-23 12.338 1.931 24.269 22,338 1.931 24,269 3l-Dec-23 Net s¢ok Value 3l-Dec-23 1,075.000 A.075,r4JO 227,358 1.302,35B Nèt Book value 3L-Oe¢-22 127.35 1.931 1,304.289 15
PAROCHIAL CHUACM OF MAThHEW'S WORTHTNG 140TE5 TO THE FJNA14CIAL STATEMENTS l¢ofitlnLd) FOR THE YEAR ENDED 31 DECEMBER 2023 9. CASH AT bANK AND IN NANO unrestrirted tkwgDated Re5tncred Fund Fund5 Funds T•t31 Total 31-Dec-13 31-Dec-22 Current and Deposit accounts Petty cash 18,972 62 23.394 22,792 65,158 62 54.491 103 19.034 23,394 12.792 6S,220 54,594 10. 114VEsrMeN7S Market value i Jèhuèry 2023 Net 9ainslllosse51 on revaluarion r4arket V41ve at 31 Decernber 2023 6.466 587 7,053 Investrnénts compnse 312 units In th• Central 8oard of Finathce Investment Furtd Ilficomel. The V•lu• ol this Investrn•nt IncMès•O by £586 trtym £6,466 to £7.053. Interest received on the deposit acc•ut)t Is r¢ceied Inro tht 9eneril lunrestnrtel) fund. 11. Dt•TORS AND PREPAYMEIITS Unrestrtrted Desi9nJted Furlds Auirttted T•t•l Fynd Funds 31-0•£•3 J Jl-Dq¢-22 Tra44 Dqbtors Glft Aid wiecoverotr* Prepayments Acerued Income 4.207 4,207 4,415 1.422 481 5,056 443 5.499 9,163 443 9,706 6,319 IZ. CREDITORS ACCRUALS AIID DIFtRReD 114COME.. A•IOUNTS PALUIIG DUE WITM114 ONÉ YEAII Unréstrtrted (grted Aesthcted Fund Fu Fund Tot•1 Total 31-D-1? Trade Credltor5 Accruals 3.496 690 6,686 7,326 Oeferreé Income Oiher Creditors 3,496 69Q 8.686 7.316 16
PAROCHIAL CHURCH OF sr MAThHEW'5 WORTHING P40YES TO THE FINA14CIAL STATEMENTS lctsntinued) FOR THÉ YEAR EIIDti> JI DECEMBER 2023 13. OESIG14ATED PUNLIS ealarFce tncome expendlture Transfer5 Balance OL-Jan-23 31-Oec-23 1.075.fY)O 209 1.075.000 3,603 Tithe Fund 17,330 20.724 IL,6851 15,000 Vicaes Discretionary Family Worker 28 Cobaen Road 1.685 15,000 227.358 J.458 227,358 2,291 Matt's Comedv Club MW'S Group 576 1.743 1.307.710 576 19.073 34.039 1.323.252 CDmpbrative arnnts ror 2022. Balance Income expendilure Transfers Balènte 01-Jan-22 31-Oec-22 Catenw Fund all Builthn95 Tithe Fund 943 {9431 1,075,000 {2861 1.827 1.075,000 209 16.360 16,85S Vicar's Discretionary 28 Cobden fload 350 492 1.685 227.356 227.358 Matt's Comedy Club Men'5 Grou 4,132 1.097 1,104 1.778 3.458 {1.0971 1.3LO,071 1.454 18.630 14,8L5 1,307.7LO The Hèll Buildings and 28 Cobden Road funds the value of these respective properties. The 28 Cobden Road fund baLance represents all the costs of purchasing the property. Induding sdiotors fees, agents. fees, etc. The Tithe fund receives ten percent of the donatsons to the rerni Fut)d. This tthe IS dlsthbuted arr95t missithory causes as determlned bv the PCC. The Vicarf5 Discretionary fund is held for ontroff needs within uie parish which come to the attwtion of the staff the cr5e of their pasEgral tare. The fund Is nor activdy promoted for 9ifts bJt any g11ts gi art héid in a de&gnated fvnd instead of bein9 taken Into the unrestnrted funds of tThe pansh. Matt's Comedy Club Is a club run by the church in l¢xai *itertainment ¥enIS seeknng to reach out to the comrnunity through family- friendly cornedy. Men's Group. The PCC deoded to rel&2se the agnat as fvturt expense5 ¥¥ould be covered tyv the general fijnd. 17
PAROCMIAL ¢HUR¢N OF plANE¥rS WORTHIIIG NOTES TO THE FIPIAIICIAL sfATÉMEI4T5 Icontlnued) FOR THE YEAR ENOED 31 0ECEM•ÉA 2013 14. RESTRIcfED FU14DS Balance 8èlJnee 01-Jan.23 Income Expenditurt Transfers 31-De¢-23 Staff Support Vicarfs Discretionory Eneryy Efficiency Projerts Warm Spac Matts Meal¥ 6.181 16.181} 1,147 450 697 12.650 12.208 {H2} 2,081 1,80S 1.500 387 2,947 l.L42 Youth Work Re-equipplng Splritual Trail and othv tsJiioin9 n¢•ds wiiénres 3.971 2,466 {L.1891 538 1,2?7 sss L.093 2,462 Mlssionory Fund Yourh Ch•d 11.591 292 14,505 292 18.310 33.219 20.939 8.045 B•l•n 01-)•n.22 Comparèuv• amounis fc¢ 2022". Inc(x EXpdItUr• Transfers 31-Dec-22 Churctt Yculh Work J,050 9.467 102,1)00 4.810 1,539 stall Support {p¢eviousiv vouth work•rl Re.eouippin9 Spirity•l Tr•ll •nd other bullding teds Wildfires {9.4671 98.029 6.897 3,971 2,466 4,553 loo 11001 Missionary Fun¢ Youth Charttv 10.858 l L,581 292 292 130.185 106.611 11.0781 18,310 The Staff Support Fund receives restncteo donJdons Iv the supwjrt gf any of chur£h St•ft. and Is used 10 fynd their c05t5 01 employment. All alf 541ary costs are budgeted JNJ •ccoynted solely In th• G•neral Fund, $0 Staff Support Fund transfers Its b414nce to the General Fund at year The Vlcarfs Discretlon•ty Fund has been moved 4e¥•nbted to re#Aaed IS the Incom• Is rwi r•ceived frtyn doThationi. It Is utllised Oy the ¥icar as and wben he iJ•ntifies a need. Energy efficieDty proiecis Indyded grahts tr wlèr wnels whkh w•r• fttted to tThe south sod• olthe thurtTh. Th•rn are to be lutvrr proierts In 2024. Ttte Warm Sp•¢es Fund r¢caved grants tron) Worthin9 BortyJ9n CouncII aDd a pn¥•tt 9r•nt maklng bDOy. These have betn rallY utilised énd Will continue to provide assistance enw9y C15 for wnning these space5. The Matts Mul$ Fund receives doThation$ toward5 rhe cost of providlry trè9$ or rood to lamllle5 irt neeo of asslstonce with the cost of The Church Ycuth %York Iuno receives any grant5 or aonations specificaiiy for the youth u¢)dertaken by the church. The generèl youth work. however, 1$ lunded the genefal fund. One 9rani was recvea In 2021 and ill be utilised ift 2024. The Re-e9uioping fund fece+ved 5pKific oofiations to enable the ¢hyrth to underrake major work to 119htlll9, seatiTr9, Sound. the electrtcs and the stonework of the churth as well as other •500Oted ork5. A srnall Dalance remoin5 and its use wlll be discussed witn th• oonor The Spiritual Trtil Fund receive5 dMations to spend OD Installin9 benches art In ihe 9arden on the south Side of the ¢hyrch. In late 202L It also received o restnrted donatson to cover the cost of aSDestrs removal work undertaken in January 2022. The Wllthres Fund covered srnaii donation5 but a5 the txpenditure txceeded Ihe Inc¢xne. the balance was transferred Irorn the general lund. 18
PAROCHIAL CMURCH OF sr HANEw.s WORTHING NOTES TO THE FINANCIAL STATEMENTS {£ortinye41 FOR ThE YEAR EPIDEO 31 0ECEM8ER 2023 14. RE5TRIrfED FUMDS l¢¢rttlnu•d) The NISSionary fund is for doDation5 received for specific m15s11)n5 supwrred by the Pan5tt ana Is seoatore ro the tithe fvnd which Is proportion of total 9IWing. The Mission C<Nnrnittee ère working to distribute the small Dalance camed forward as scon as po551ble In 2023. The 2022 balance includes gifts of £10.648 collerted for Morning star In wognition of rhe £102,000 doDaknons towards the Re- equip project. A team Will be tTavdling In Sepienibw 2024 In order tarry Out this work. The Youth Chanty Fund Is fDr majof Youth events le.g. fortrgn thps). The balance ha5 been urned (orwor4 for several years and the PCC will work to determine how to utllise the remaiTrir¥J balafice. 15. TKAN5FERS BEVIIEÈN FU140S Unrestncted DEWgnatsJ Restncted Oper•tion•l trah¥fer bethween lunds.. Froffl General Fun¢ w fithe Fund - IO% of general giwng From Staff sUprt to General Fund io part-fund salarle5 Frnrn Eneryy Effiaency to General towards eDwgy auOIt From Spiritual Trail and other building to general for sofas From General FuTrd to Family Worker to fund salary costs Frorn WarTll Space to 9ty)er41 towards energy ctssts Transfer discretionary fund from desi9nated io restriLled 120.724} 6,181 20,724 16,18LI 14421 (1,1891 1,189 (15.0) 1.918 15.000 (1,9181 1.6B5 11.68SI 34.039 125.9941 18,0451 Unresthrted Dey9nated RestnLThl ComoarativÈ amount5 for 2022.. From General Fund to f1the Fund- of gefteral giwng From Staff Support to Generèl Funt1 to part-fund salanes From Wildfire5 of opening batt¢e to Crr genernl fiJnd expet Unde5ignate the catenDg fund Unoesi9nate the rnen's 9roup fund From Churth Youthwvrk fvnd to genernl to aiver expenses 116.8S5) 9.467 l6.855 19,467) {IODI loo 943 19431 (1.0971 1,097 14.815 11,078) 16. PAYPIENT5 TO PCC MEMBERS AND CONNEcfED PARTIE5 2023 2022 Number of eierted mernters who were paid a wa9e Total amount paid 614 S45 Matt Bramley was paid for orcasional deaniTrJ and tattèking cover as e. The PCC has continued to 5UPPOrt the work of Phil Rugg with AWM-Pityneers finanoally dunny 2023. This IS part of 4 longstanding commitment of the PCC to SUPPOrt Ihe ¥york d AYIM-ThoneerS, wethting ¥thil JnIng the PCC In (*thber 2020. Phil took nts part In the PCC drfision to maintsin th15 commitment Ift 2023. The PCC en9aged Monetaire 2017 Payroll umited, a company WlY obyned and Maned by GinThy SaDter. to pnjyiae payroll seNice5. This engagement predate5 Ginny IO1DIDg the KC and was terminated dunng 2023. Apart frDm the normal reimbuf5ement of ministry expen5e5 to off memDers and pcc Mbers. no other arnounts were pa¢d to PCC rnernbers. or related parties. Irt 2023 (nil In 2022). 19