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← The Parochial Church Council Of The Ecclesiastical Parish Of St Margaret Of Antioch, Rainham, Kent

2023-12-31-accounts

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ANNUAL REPORT AND FINANCIAL STATEMENTS

of the

PAROCHIAL CHURCH COUNCIL

For the year ended 31 December 2023

Incumbent

Revd Nathan Ward

St Margaret’s Church Office

The Millennium Centre Gatekeeper Chase Rainham ME8 9BH

Bank

National Westminster Bank plc 70-74 High Street Rainham ME8 7JH

Independent Examiner

Natalie Harrison ACA FCCA CTA TEP Beak Kemmenoe Chartered Accountants 1-3 Manor Road Chatham ME4 6AE

Registered Charity No. 1134849

Table of Contents

Annual Report .................................................................................................................... 4 Administrative information ........................................................................................................ 4 Objectives and Activities ........................................................................................................... 5 Public Benefit ............................................................................................................................. 5 Achievements and Performance ............................................................................................... 6 Plans for 2024........................................................................................................................... 10 Grant Making ............................................................................................................................ 17 Volunteers ................................................................................................................................ 17 Church Electoral Roll ............................................................................................................... 17 Financial Review ...................................................................................................................... 17 Reserves Policy ................................................................................................................................................. 17 Utility Costs Consideration .............................................................................................................................. 18 Going Concern Consideration ......................................................................................................................... 18 Structure, Governance and Management .............................................................................. 18 Induction & Training of Trustees ...................................................................................................................... 20 Risk Management ............................................................................................................................................ 20 Statement of Trustees Responsibilities ........................................................................................................... 20 Committees....................................................................................................................................................... 20 Deanery Synod Report .............................................................................................................. 21 Diocesan Synod Report ........................................................................................................... 21 Fabric, Goods and Ornaments ………………………………………………………………………….……………….…………22 Church ………………………………………………………………………………………………………………………………………………………..22 Churchyard ........................................................................................................................................................ 22 Clergy Housing .................................................................................................................................................. 23 Safeguarding Report................................................................................................................. 23 Financial Statements ...................................................................................................... 26 Independent Examiner’s Report to the Parochial Church Council for the year ended 31 December 2023 ........................................................................................................................ 26 Respective Responsibilities of the Trustees and the Independent Examiner ............................................. 26 Basis of Independent Examiner’s Statement ................................................................................................. 26 Independent Examiner’s Statement ............................................................................................................... 26 Statement of Financial Activities for the Year Ended 31[st ] December 2023 ............................ 28 Balance Sheet at 31 December 2023 ....................................................................................... 30 Notes to the Financial Statements .......................................................................................... 31 1 Accounting Policies ....................................................................................................................................... 31 2 Analysis of income and expenditure ........................................................................................................... 33 3 Statement of Assets and Liabilities .............................................................................................................. 35 4 Fund Movement ............................................................................................................................................ 37 5 Related Trusts and Charities ......................................................................................................................... 37 6 Prior Period Comparative SOFA.................................................................................................................... 38 Detailed notes .......................................................................................................................... 40 2a. Donations .................................................................................................................................................... 40

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2b. Grants received ............................................................................................................................................ 40 3a. Tangible Fixed Assets .................................................................................................................................. 40 Investment Assets .............................................................................................................................................. 41

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Annual Report

Administrative information

The PCC present their report with Financial Statements of the charity for the year ended 31 December 2023. The PCC have adopted the provisions of the Statement of Recommended Practice for Accounting and Reporting by Charities issued in January 2015, together with the Church Accounting Regulations 2006 and Section 145 of the Charities Act 2011.

St Margaret’s Church is situated in the High Street, Rainham. It is part of the Diocese of Rochester, within the Church of England. It has a charitable status as a registered place of worship under Section 3 of the Charities Act 1993. Charity Number 1134849

Church address St Margaret’s Church High Street Rainham Kent ME8 7JH 01634 362023

Parochial Church Council (PCC)

Incumbent Revd Nathan Ward Chair Assistant Priest Revd Jonathan Jennings

Licensed Lay Ministers

from APCM 2022 to 2023 Mrs Janet Garnons-Williams

Churchwardens

from APCM 2023 to 2024 Mrs Davina O’Brien Mrs Linda Randall

Deanery Synod

from APCM 2023 to 2026 Mr Terry Whittaker

Diocesan Synod Mr Terry Whittaker Licensed Lay Worker, and licensed funeral from January 2021 to July 2024 minister

Elected to PCC

from APCM 2021 to 2024 Miss Hollie Allen Mr Nigel Barfoot Mr Owen Smith Vice-chair from May 2022

from APCM 2022 to 2025 Mrs Heather Baker Miss Lorna Dyer Mrs Felicity Holton Mr David Ormiston Mrs Charley Holden (nee Whittaker)

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from APCM 2023 to 2026 Mr Nick Grief Mr Philip Holdcroft In attendance Mr Sam Holden PCC Treasurer Mrs Jo Whittaker PCC Secretary

Bankers

National Westminster Bank plc 70-74 High Street Rainham Kent ME8 7JH

Independent Examiner

Natalie Harrison (ACA FCCA CTA TEP) Beak Kemmenoe Chartered Accounts 1-3 Manor Road Chatham Kent ME4 6AE

Objectives and Activities

The PCC is committed to enabling as many people as possible to work in our Church and to become part of our Parish community. It maintains an overview of worship throughout the Parish and makes suggestions on how our services can involve the many groups that live within the Parish. Our services and worship put faith into practice through prayer, Scripture, music and sacrament.

In the planning of activities, the PCC has considered both the Charity Commission’s guidance on public benefit and the specific guidance on charities for the advancement of religion.

In particular, we try to enable people to live out their faith as part of our Parish community through:

To facilitate this work, it is important that we maintain the fabric of the Church of St Margaret’s and the Millennium Centre complex.

Public Benefit

St. Margaret's Church remains deeply committed to serving the needs of our community, enriching lives, and fostering a sense of belonging and support for all. Through our diverse range of programs and services, we continue to impact the lives of individuals and families, promoting spiritual growth, social cohesion, and community well-being.

Our core offering of Sunday Services, held at 8 am, 10.30 am, and 6.30 pm, provides a vital opportunity for worship for parishioners of all ages. Additionally, our 252 Kids Club, inspired

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by Luke 2:52, offers a nurturing environment for children on Sunday mornings, fostering their spiritual development and sense of belonging within the church community.

Recognising the importance of regular communion and fellowship, we host mid-week communion services every Wednesday at 10.30 am, providing a sanctuary for contemplation and renewal amidst the busyness of modern life. Furthermore, our XP3 Youth program, held on Monday evenings, engages and supports young people, empowering them to explore their faith and navigate the challenges of adolescence.

In response to the growing needs of vulnerable individuals and families, our Just Say Hello Food project has expanded its reach, offering vital sustenance and support to those facing food insecurity. Moreover, our Community Hub, operating every Tuesday, serves as a central resource hub, collaborating with key stakeholders such as Citizens Advice and the Department for Work and Pensions, Medway Adult Education and Public Health to provide holistic support and guidance to members of our community.

Our strong partnerships with local schools and Academy Trusts enable us to effectively support young people's educational and pastoral needs, fostering a nurturing environment for learning and growth. Additionally, our Eco Hub project has emerged as a beacon of environmental stewardship, inspiring and supporting grassroots initiatives throughout the county to address the urgent challenges of the climate emergency.

Furthermore, we recognise the importance of nurturing social and cultural bonds within our community. Through initiatives such as concerts, the inaugural Rainham Poetry Festival, and coffee mornings, we provide enriching experiences that promote social interaction, creativity, and well-being, particularly for the elderly members of our community.

In summary, St. Margaret's Church remains steadfast in its commitment to serving the public good, fostering spiritual growth, social cohesion, and community resilience. We are grateful for the continued support of our parishioners, volunteers, and partners as we strive to make a meaningful and lasting impact on the lives of those we serve.

Achievements and Performance

Below are details of services taken throughout the year including previous data for comparison. It should be noted that there was an extra carol service held in 2022.

Attendances 2020 2021 2022 2023
Average weekly attendance
during October		 81 (1,375
online)		 114 (1,880
online)		 99 (1,190
online)		 110
(1,098
online)
Easter Day 4 (2,826
online)		 9 (2,568
online)		 194 (610
online)		 198
(4,266
online)
Christmas Day 1,480
online		 98 (420
online)		 199 (400
online)		 216 (336
online)
Christmas Services 180 668 1082 1059

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Adult Baptisms 0 1 3 1
Child Baptisms 8 29 38 42
Confirmations 0 0 0 7
Marriages 0 10 15 4
Services of Thanksgiving for a
Marriage		 1 4 3 0
Funerals in Church 16 16 See
below
Funeral service in Church,
burial in Churchyard		 7 17
Funeral service in Church,
burial in a cemetery		 1 1
Funeral service in Church,
committal at Crematoria		 12 12
Funerals in Crematoria only 32 35 27 26
Interment of Ashes 9 17 20 20
Memorial Services in Church Not recorded Not
recorded		 2 2

In relation to community groups please see the graphs below:

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Just Say Hello Food Project

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Thursday Coffee Morning
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The above means that our annual reach is estimated to be in excess of 67,982 people (excluding those attending pastoral services – weddings, baptisms and funerals).

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Plans for 2024

Our vision for 2024 remains the same: to grow Spiritually, Transformationally and Numerically. The plans outlined below will support the outworking of that vision.

Pray More
Why Because God calls us to pray, it’s how we communicate with God, it keeps
us humble, and it allows us to participate in God’s work.
Specific Stage 1
1. All church meetings to begin and end in prayer
2. Have a short sermon series on prayer
3. Ensure all areas of the church's life are prayed for by including daily
prayer points in the Day by Day booklet.
4. Increase the number of people leading Daily Prayer
Stage 2
1. Encourage daily prayer throughout the congregation by signposting
them to different resources both produced by St Margaret’s and
wider publications
2. Small groups to include prayer both as an activity and teaching
point
3. Develop prayer stations within the church and offer ideas on ‘ways
to pray’ that are promoted on the website, social media etc
4. Offer prayer ministry after service
5. Signpost families toprayer resources theycan use as a family
Measurable 1. Minutes of meetings
2. Church timetable to show sermon series
3. Increase by 3 people the number of people delivering daily prayer
4. The second series of small group resources to be on prayer
5. Section on how to pray on the website
6. Prayer ministryis offered after each service
Achievable This is something the whole church can do and participate in.
Relevant Speaking to God and listening to him and hearing from him is always
relevant as a church and to Christians
Time Bound 1. Stage 1 completed by June 2024
2. Stage 2 completed byDecember 2024
Lead This will be confirmed when the new PCC is formed.
Read More
Why What we read shapes us. The Bible shows us God’s character and provides
us with God’s revelation of himself to his people. In each section, we see
God’s holy, unchanging, faithful, gracious, and loving character.
Specific Stage 1
1. Encourage people to use the physical bibles in church by directing
them to it and providing them with the page number.
2. Encourage listening to or reading the Bible daily through the Daily
Prayers online at St Margaret’s or other resource

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3. Continue to have a specific small group that focuses on studying
the Bible for those who wish to delve deeper into the Biblical text
Stage 2
1. Encourage the use of Bible reading notes so people can unpack
their reading and consider how it might apply to their lives in a
gentle way.
2. Encourage the congregation to join a small group through which the
Bible will be used as a key resource and can be discussed within a
group context
3. Signpost families to resources for reading the Bible together as a
family and specific resources for children and young people to read
the Bible
4. Continuegivingnew students at St Margaret’s Junior School bibles.
Measurable 1. The reader announces each reading with page numbers at each
service.
2. Bible reading resources displayed in the church and promoted
through notice sheets and services
3. Bible studies continue
4. Ten new people join small groups by the end of 2024
5. Family resources displayed in the church and promoted through
notice sheets and services
6. Biblesgiven to each new student
Achievable •
Apart from giving Bibles to new students, there isn’t a large
financial impact to doing this, and historically, the cost of new
Bibles has been funded bythe congregation.
Relevant Reading and listening to God’s word is always relevant to Churches and
Christians.
Time Bound Stage 1 to be completed by July 2024
Stage 2 to be completed by December 2024
Lead This will be confirmed when the new PCC is formed.
Love More
Why Jesus said: “By this everyone will know that you are my disciples if you
have love for one another.” (John 13:35)
Specific Stage 1
1. Encourage meaningful conversations and dialogue between
congregation members after the service outside of ‘normal
groupings’, fostering community and fellowship and reducing
potential divides.
2. Encourage members of the congregation to meet up outside of the
church in public spaces to develop relationships
Stage 2
1. Further develop the welcoming at all church services to ensure
everyone is welcomed and engaged with suitable follow-up
2. Provide opportunities within the church services for ‘getting to
know people’ – e.g. testimony, this is where I work etc.…

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Stage 3
1. Run the Everybody Welcome Course so that the congregation can
understand the part they play in welcoming new people
2. Pastoral group to develop ways of keeping in contact with those
who are unwell orgoingthrough a major life event
Measurable 1. People staying longer after the services and talking to each other
more
2. Communication in notices encouraging meeting up
3. Welcomers meeting to discuss vision and values for welcoming
4. Time in services to be identified and programmed for people to
speak in
5. Everybody welcome course delivered
6. Increase in the number ofpeople contacted bythe Pastoral Group
Achievable Apart from the Everybody Welcome Course, delivering this target has no
financial impact and is more about developing culture than implementing
anything new.
Relevant Developing a culture based on the above is essential to retaining people
within the congregation and helping them grow together in faith.
Time Bound 1. Stage 1 to be completed by July 2024
2. Stage 2 to be completed by December 2024
3. Stage 3 to be completed byApril 2025
Lead This will be confirmed when the new PCC is formed.
10.30amService 10.30amService
Why It’s our principal service, and when it is not ‘right’, it detracts from our
focus on worshipping God
Specific 1. Strengthen the Choir both in confidence and numbers
2. Continue to develop the use of modern music within the service
3. Involve more people within services to do readings, lead prayers,
and assist at communion
4. Develop service booklets and associated resources on the website
that help explain the liturgy
5. Increase the number of people run the sound and audio-visual
system
6. Continue to develop All Age format of services
7. Review the relationship between 252 Kids and the weekly service
and when children are in the service
8. Provide opportunities within the service for ‘getting to know people’
– e.g. testimony,this is where I work etc.…
Measurable 1. To have a minimum of 12 people within the key groups that support
the running of the service (choir, readers, intercessors, communion
assistants)
2. New service booklets produced for each liturgical season
3. Recruit and train six people on the sound and audio-visual
equipment
4. The review of the All Age Service and the relationship between 252
Kids to be presented to the PCC
5. The liturgy includes space for people to share testimonies or
introduce themselves

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Achievable •
This will be a key focus for the staff team
•
The congregation is growing, and therefore the potential volunteer
base is also increasing
•
There is aprocess inplace for the safer recruitment of volunteers
Relevant Our primary purpose as human beings is to worship and glorify God and
therefore the principal act of worship for our community should be the best
it can be.
Time Bound 1. Groups to reach the desired number by April 2025
2. Booklets produced by September 2024 and include space for
people to share testimonies or introduce themselves
3. Review of All Age Service and Relationship between 252 Kids and
Service to takeplace byFebruary2025
Lead Rev’d Nathan Ward

Children, Youth and Families

Children, Youth and Families Children, Youth and Families
Why We have promised as a church to help children and young people grow in
faith. Therefore, we need to provide fertile ground for their faith to flourish.
Specific Stage 1
1. Safely recruit volunteers for 252 Kids, XP3 and Family Friendly
Coffee morning
Stage 2
2. Develop regular family-based activities throughout the year (eg
Pancake Party, Christingle) in church
3. Promote Acts of Worship within other Primary Schools in Parish
4. Deliver a parenting for faith course
Stage 3
1. Develop a strategic document that outlines the current status of
children’s, youth and family work, its strengths, weaknesses,
opportunities and threats
2. Present the document to PCC, who will consider resourcing the
plan
Measurable 1. Recruit a minimum of 5 new volunteers for 252 Kids
2. Recruit a minimum of 3 new volunteers for Family Friendly Coffee
Morning
3. Recruit a core team of 4 people for XP3
4. Deliver four family outreach test events that have faith embedded
within the activities
5. Write to all Primary Schools by September 2024 offering Acts of
Worship
6. Deliver Parenting for Faith course by April 2025
7. Strategic document to be produced and presented to the PCC in
the January 2025 meeting
8. The outcomes of the strategic document to form a section for the
2025 Annual Report’s futureplans
Achievable •
Recruiting 12 volunteers out of our current congregation and
network is achievable and we have the processes in place to
manage the recruitment

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•
We already have experience running family-based events with a
volunteer base and have financial resources within our current
budget to facilitate them.
•
We currently produce weekly Acts of Worship and therefore, the
onlydemand is bookingthem into the diary
Relevant The current infrastructure for children, youth and families work is under
stress due to volunteer base. New families are moving into Rainham and
seeking churches that have regular and solid work with children, youth and
families. It directly links to our vision of growing numerically as research
demonstrates that being strong in this area is a catalyst for growth.
Time Bound 1. Stage one to be completed by July 2024
2. Stage two to be completed by December 2024
3. Stage three to be completed byApril 2025
Lead Jo Whittaker and Nathan Ward
Putting Rainham First
Why This project will enable the church to be sustainable in the future, both
missionally and environmentally.
Specific Stage 1
1. Complete a churchyard survey identifying spaces
2. Complete the initial survey of the Eastern Crypt
Stage 2
1. Finalise concept designs for the church, churchyard and
Millennium Centre
2. Update Statement of Significance and Statement of Need
3. Gain initial approval from the DAC
4. Consult with key stakeholders:
o Congregation of St Margaret’s
o Local Community
o MedwayCouncil
o The Ancient Monuments Society
o The Council for British Archaeology
o The Society for the Protection of Ancient Buildings
o The Georgian Group
o The Victorian Society
o The Twentieth Century Society
o Church Buildings Council
o Historic England
Stage 3
1. Complete funding feasibility study
2. Complete case for support
Measurable 1. Documents listed above to be produced on time and without
grammatical or numerical error
2. Gain overall approval for the indicative designs from the DAC
3. The stages to be completed within budget
Achievable •
There is a dedicated PCC subcommittee to oversee the delivery of
this objective
•
There is a financial provision made within the current 2024 budget,
and otherpotential sources of income have been identified

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Relevant Without these stages being completed, the project cannot move on to the
next stage, which will be fundraising and the development of detailed
plans. This stage is time critical as Medway is currently a priority area for
funding nationally regarding heritage.
Time Bound 1. Stage one to be completed by 31stMay 2024
2. Stage two to be completed by December 2024
3. Stage three to be completed byApril 2025
Lead Rob and Vicky Shultz
Improve the churches environmental sustainability Improve the churches environmental sustainability
Why We have committed to be Carbon Net Zero by 2030. There is a biblical
imperative to be stewards of God’s creation.
Specific Stage 1
1. Increase membership of subcommittee
2. Undertake self-assessment against published criteria for the
Arocha Award and Green Flag Award as these well help direct us
towards carbon net zero and environmental sustainability
3. Present gap analysis to the Staff Team
Stage 2
1. Develop an operational plan to close identified gaps
2. Implement operational plan
Stage 3
1. Applyfor Awards
Measurable •
Green Flag Award application submitted
•
Gain Arocha Silver Award
Achievable We have a PCC sub-committee dedicated to this strategy. It does not
appear there are significant budget implications for achieving this.
Relevant There are 68 months until 2030, and therefore, great momentum is
required to continue towards our goal of carbon net zero.
Time Bound 1. Stage one to be completed by July 2024
2. Stage two to be completed by October 2024
3. Stage three to be completed byMarch 2025
Lead Eco Sub Committee
Communication
Why Good communication builds confidence and enables vision and strategy to
be understood. It builds community.
Specific 1. Ensure that the newsletter is produced accurately each week and
contains all the key information that people need to know ‘what is
going on’
2. Ensure the regular and timely publication of the Day by Day
booklets
a. Appoint an editor who can produce the contents of the
booklet

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b. Ensure that all events within the church are published in the
booklet and that all published events take place. No ‘To Be
Confirmed’ events to be published.
c. Include points for prayer for each day within the booklet.
3. Redevelop the church website
a. Recruit a volunteer to manage the technical side of the
website
b. Recruit a volunteer to manage the content on the website
c. Ensure the content of the website is relevant and updated
d. Ensure that it is user-friendly so that people can find the
information they require quickly
4. Social Media
a. Develop a social media vision and strategy
b. Recruit a volunteer team to manage social media
Measurable 1. Weekly newsletters accurately produced on time
2. Day by Day booklet accurately produced on time four times a year
3. The church website redeveloped and maintained
4. Social media reach and engagement increased
Achievable This will be challenging to achieve as it involves the collation of information
from multiple sources and significant forward planning. However there is a
strong desire to make this happen with people volunteering to support.
Relevant Due to our wide range of activities and diverse ‘audiences,’ it is imperative
that our communication be accurate and consistent.
Time Bound 1. Newsletters to be distributed every Friday
2. Day by Day booklet to be produced for the Sundays before June,
September, December, and March
3. The church website is to be redeveloped by September 2024
4. Social Media Strategyto be developed byNovember 2024
Lead This will be confirmed when the new PCC is formed.

Develop Partnership with Tafara

Develop Partnership with Tafara Develop Partnership with Tafara
Why It is important for us as a church to have a bigger perspective on faith,
church and Anglicanism and is a practical outworking of our Diocesan
partnership
Specific 1. Work with St Philips/Matthias to develop a joint strategy on how we
develop and promote our relationship
2. Have three clergy meetings a year where clergy from St Margaret’s
and St Philips / Matthias meet virtually to discuss how the churches
are and review how the partnership is developing
3. Create a platform where prayer requests are cross-pollinated
4. Explore an ‘exchange’ visit whilst considering the environmental
impact
Measurable 1. Strategy document produced
2. Three meetings held in 12 month period
3. Prayer platform created and used
4. Report on apotential exchange visitpresented to PCC
Achievable To meet these objectives, all that is required is time and planning, and
therefore, it is eminently achievable, as there is a strong will within the
church to develop the partnership.

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Relevant The church has a long-standing partnership, and there is a strong will to
develop it further.
Time Bound 1. Strategy to be completed by December 2024
2. To arrange clergy meetings for May, September and December
3. Prayer platform created by July 2024
4. Exchange Visit Report to beproduced byMarch 2025
Lead David Orminston

Grant Making

There were no grants made in 2023.

Volunteers

Members of the PCC act in a voluntary capacity and rely heavily on the assistance of safer recruited volunteers outside of the PCC. It is estimated that there were more than 11,995 volunteering hours in 2023, which equates to a financial value of £172,728.

Church Electoral Roll

At the closing date of this year’s revision of the Electoral Roll (2023/24), the total number of persons whose names are on the Roll is 181 (188 for 2022/23) of whom 124 persons live within the Parish and 60 outside the Parish.

Financial Review

The cost-of-living crisis continued to negatively impact our expenditure during 2023, this was worsened further by significant expenditure to repair the church wall that collapsed. Income was impacted mainly by our regular hirer at the Millennium Centre closing down which left us with a significant deficit on expected income levels. St Margaret’s was blessed with significant donations towards the wall repair in 2023 which helped us to ensure that our reserves were not impacted whilst we dealt with regular high-level expenditure in relation to the wall repair.

Total receipts on unrestricted funds were £280,973. Our Donations and Legacies income totalled

£141,457 for 2023, this includes £24,781 recovered through Gift Aid. After depreciation, the Millennium Centre made a loss of £32,747 in 2023 (this includes a depreciation charge of £11,767).

£289,465 was spent from unrestricted funds on Church activities during the year, including a contribution of £51,362 to the Diocesan Parish Share.

Net movement in unrestricted funds was a decrease of £76,124 for the year and a deficit of £11,767 (depreciation charge for Millennium Centre for 2023) in the restricted funds. During the year the total fund balances decreased from £768,293 to £649,364.

Reserves Policy

It is PCC policy to retain a balance on free reserves (net current assets) which equates to a minimum of three months planned regular expenditure based on the last reported 12 months. This policy was reviewed as part of the budgeting process for 2024. This

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minimum equates to £41,039 and is held to smooth out fluctuations in cash flow and to meet emergencies. The actual balance of the free reserves as at 31st December 2023 was £65,716.

Utility Costs Consideration

Throughout 2023 the wholesale energy prices stabilised and started to drop back down, as a result we were able to source some fixed contracts which we entered in to so that we could ensure we were protected from any future rises and this allowed us to budget effectively for 2024. Our previous fixed term contract for Church utilities expired in November 2023 which resulted in a huge increase in the monthly bills as we were in this contract since November 2019 so we have been shielded from these increased costs until now, these increases have been factored in to the budget for 2024 based on actual usage for 2023.

Although we cannot mitigate the risk of rising energy costs long term, as a Finance Committee we are happy with the current contracts and feel that we have mitigated the risk for the short-medium term.

Going Concern Consideration

The Accounts are produced on a Going Concern basis.

The cost-of-living crisis has had a significant impact on both our income and expenditure this year as we have seen general donations down across the board as our congregation battles with increased living costs and we have seen our expenditure rise on the majority of supplies which is out of our control, apart from the fixed utility agreements we have in place.

If we encounter a situation of very significant uncertainty, it should be noted that we have a contingency plan. Our Parish Share is a voluntary payment. St Margaret’s has a good and proud history of paying its share, a number recommended by the Diocese, and the amount that we pay is close to the highest being paid by any Church in the Diocese. This year we paid our full parish share offer of £51,362 despite the challenging circumstances we found ourselves in. Additionally, we have a significant asset in our Childscroft Road property, currently we receive monthly rental income for this property which we review annually to ensure the amount charged is correct. In worst case circumstances, we could sell the property and replenish our cash reserves. The current value of the property is approximately £450,000.

Structure, Governance and Management

The Parochial Church Council is a corporate body, established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC is registered with the Charity Commission (no. 1134849).

Below is an organisational chart.

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General Synod
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The Church Representation Rules[1 ] set out the appointment method for PCC members. There is also provision for co-option of members. The Incumbent, licensed assistant clergy, Churchwardens, and elected members to the Deanery, Diocesan, and General Synod are all ex-officio members of the PCC. All those who attend our services as congregation members are encouraged to register on the Electoral Roll and are eligible to stand for election to the PCC.

PCC members are also Charity Trustees and are responsible for preparing the report of the trustees and the financial statements in accordance with applicable law and UK Accounting Standards (UK Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to:

1 https://www.churchofengland.org/about/leadership-and-governance/legal-services/churchrepresentation-rules/contents

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The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The full PCC met twelve times during the year.

Induction & Training of Trustees

All new trustees are inducted to the church PCC subject to the completion of a DBS check, undertaking appropriate safeguarding training and completing an HMRC Fit and Proper Persons declaration and a Trustee Eligibility Declaration. All trustees receive a copy of CC3 ‘What Trustees Need to Know and Do’ guidance note from the Charity Commission. At the first meeting of a new PCC, all offices of the PCC are discussed, nominations provided, and after voting, positions declared.

Risk Management

The budget for 2023 was reviewed on a regular basis by the Finance Committee throughout the year and any updates were given to PCC at the PCC meetings. The budget for 2024 was reviewed extensively by the finance committee and was agreed to by the PCC. As part of this review process and the anticipated income from trading activities due to exceed the permitted small trading turnover of £80,000[2 ] the PCC established a trading company called Acts Six Ltd (company registration 15250250), of which the PCC own 100% of the shares. The PCC, in the previous accounting year, applied to establish a Charitable Incorporated Organisation (CIO) to enable work among the homeless. Hope into Action West Kent and Medway was finally registered by the Charity Commission as a CIO on the 25[th ] September (Charity Number 1203889), with the PCC being the sole member.

Statement of Trustees Responsibilities

All trustees of the charity must:

1) Ensure compliance with the governing document and charity law.

2) Ensure that the PCC is and will remain solvent, by keeping up to date with the PCC’s activities and financial position. Use charitable funds and assets wisely, and only to further the purposes and interests of the PCC. Avoid undertaking activities that might place the PCC’s property, funds, assets or reputation at undue risk.

3) Exercise reasonable care and skill as trustees, using personal knowledge and experience to ensure that the PCC is well-run and efficient.

Committees

Given its wide responsibilities the PCC has several committees, each dealing with a particular aspect of Parish life. These include:

2 https://www.gov.uk/guidance/charities-and-trading

20

The Standing Committee - a statutory requirement and comprises the Vicar, Churchwardens, Treasurer and at least two, but not more than four, elected members from the PCC. This Committee meets, when required, and brings recommendations to PCC meetings on various matters, including those referred to it by the PCC. It has power to take decisions on behalf of the PCC when required.

The Finance Committee – this was formed to support the Treasurer and has a specific focus on the strategic use and management of the financial resources of the Church.

The Maintenance and Utilities Committee (formerly the Operations Committee) – oversees utility providers and maintenance of the Church Estate.

The Safeguarding Committee – to support the Parish Safeguarding Officer and undertake any non-confidential work that promotes a safer church.

Putting Rainham First – this committee was set up as an authorised sub-committee of the PCC to manage the project.

Other committees or task groups are formed and meet as required to consider various aspects of church life.

Deanery Synod Report

The Deanery Synod met three times in 2023. At all the Gillingham Deanery meetings, there was a round-up of news from around the parishes, a review of finances and the opportunity to raise any correspondence or business.

Diocesan Synod Report

Diocesan Synod met three times during 2023 each meeting being half a day. The Synod helps to provide a system of democratic representation and accountability and is made up of three 'houses' or groups – bishops, clergy and laity (non-ordained members of the church). Elections to be a member of Diocesan Synod take place every 3 years.

The current Chair of the House of Clergy is the Rev Canon Jeremy Blunden, Rector of St George, Beckenham

The current Chair of the House of Laity is Mrs Sarah Poole, Christ Church, Beckenham

All members of the Synod are also members of the Diocesan Board of Finance, which is responsible for the custody and management of diocesan finances.

During these synods a variety of topics were addressed beyond the normal matters of agreeing Annual budget and receiving reports against it and agreeing report and accounts.

The Bishop of Rochester sought to walk a path through his own position on Living in Love and Faith which could perhaps be described as traditionalist, recognising the need to move forward in an inclusive fashion as both National Church and Diocese where many do not share his views. He also updated Synod on his own vision of strategy that is developing, Change, Serve, Grow. Safeguarding is a standard agenda item where we are updated on issues of policy and reports are provided. Additionally the following matters received focus;-

• Young People and Vocations

21

The Synod is ‘bookended’ by prayer and worship.

Fabric, Goods and Ornaments

Church

At the beginning of the year, the cupboard under the organ pipes in the south of the church was cleared and shelving installed to create a Community Larder in the church. A fridge/freezer was also installed in that space. To facilitate this work, the Flower store was moved into the old office space and shelving built there.

Later in 2023, it was agreed that a second toilet would be built next to the existing toilet, using space from the Vestry and moving the vestment cupboard to a space against the west wall in the Vestry. As well as the work to create the second toilet, the church office was moved back to the Vestry/office and the Flower store was relocated to the South Porch.

During the year, work in the church included removing the wall between the boiler room and a small crypt room adjacent to the Tufton crypt. This was required for some investigation and remedial work on the contents of a number of coffins stored in this area. The boiler room and crypt doors were secured with new locks once the work was completed.

In October, work was required after some tiles had slipped or were missing from the gulley roof. An inspection also took place inside the church underneath where the tiles had slipped, to check for water or other damage to the woodwork above the Tufton chapel and chancel (north side).

Regular maintenance and repairs took place on the church heating, lighting including the Emergency Lighting test, organ and lightning conductor.

The quinquennial report (2021) was reviewed during the year.

Churchyard

The Churchyard Gang continued to do an excellent job to maintain the graveyard and keep it tidy.

Activity of wildlife continued to be monitored in the churchyard to avoid damage to graves by foxes and squirrels, and a pest controller was engaged to resolve an issue with rats in the churchyard.

After the North wall section collapse in November 2022, a structural survey was carried out on the remainder of the North Wall and 3 other areas were identified as unsound and needing immediate repair.

The Quinquennial Architect and a specialist builder were engaged to plan the repair/rebuild of all of the areas identified. This was a major undertaking and included coordination with Medway Council Highways department to close the access road between the Cricketers pub and the church wall in the northwest corner of the churchyard whilst the remedial work was completed.

22

The work took most of the year to complete and the project met regularly to review progress and discuss any further issues which were found.

Whilst the work was taking place on the North wall, maintenance of the South wall was completed. This was a requirement of the Quinquennial inspection 2021. The wall running from the Millennium Centre down the side of the car park was repointed as part of the maintenance.

Clergy Housing

No significant maintenance was carried out at the property in Childscroft Road. Regular maintenance such as the gas certification and boiler service were undertaken.

No significant maintenance was carried out at the Vicarage in 2023.

The Millennium Centre

The Millennium Centre has undergone a change of use during the year. In May, the preschool closed and stopped hiring the lower hall, Nursery room and small office.

Whilst looking for a replacement regular hirer, discussions were held with a local medical practice wanting space to provide GP services. Work was started to reconfigure the upstairs office spaces and the Nursery room to create the spaces required. All work was completed to a high standard and the new hirer moved in, in December.

A redecoration of the upper hall was undertaken to provide an upgraded space for events such as weddings and parties.

A New Years Eve party was organised to start the relaunch of the services available.

Safeguarding Report

At St. Margaret's Church, safeguarding remains a top priority as we strive to create a safe and nurturing environment for all members of our community, particularly children, young people, and vulnerable adults. We are committed to upholding the highest standards of safeguarding practice and continue to invest in innovative tools and resources to support our efforts in this crucial area.

In line with this commitment, the Parochial Church Council (PCC) has made significant investments in three pieces of software designed to enhance our safeguarding practices and procedures.

MyConcern: This comprehensive safeguarding software offers centralized, secure recordkeeping and case management for all types of safeguarding concerns. It enables early intervention by identifying patterns and trends, informs decision-making processes, and facilitates the demonstration of impact. MyConcern provides leaders with a powerful tool to showcase the effectiveness of our safeguarding arrangements to inspectors and other stakeholders.

My Sentury: Designed to support and guide users through each step of the recruitment process, My Sentury ensures thorough safeguarding measures are in place. By following the Sentry workflow, users become 'unconsciously competent,' guided by comprehensive safeguarding knowledge and expertise. This system prioritizes the protection of children and young people, leaving nothing to chance.

23

MyVoice: Embedded on our website, MyVoice is an open-access reporting system that allows anyone to report a safeguarding concern securely. We believe that by providing accessible avenues for reporting safeguarding concerns, we can facilitate early intervention, foster an open culture of safeguarding within our organization, and ensure better support for those in need.

In 2023, St. Margaret's Church addressed 12 safeguarding concerns, the majority of which relate to concerns outside of the church. Each concern was handled with the utmost professionalism and in accordance with our safeguarding policies and procedures. We remain dedicated to continuous improvement in safeguarding practices and are committed to ensuring the safety and well-being of all members of our community.

Through ongoing investments in technology, training, and resources, we strive to uphold our responsibility to safeguarding and create an environment where everyone feels safe, valued, and supported.

Safeguarding is an important part of the life of St Margaret’s, and this includes preventative work as well as reacting to any concerns. All staff and volunteers are safer recruited and have completed at least the basic National Safeguarding training.

All safeguarding training and Disclosure and Barring Service checks should be renewed every three years.

If you feel that someone you know may be at risk of being hurt or if you want to discuss anything related to safeguarding in confidence, please contact:

Linda Randall, Parish Safeguarding Officer on 01634 362023 ext.4

or

safeguarding@rainhamchurch.co.uk

If you have information about a safeguarding situation where a child or adult is in immediate danger or requires immediate medical attention, call the emergency services on 999. Do not delay.

24

==> picture [206 x 202] intentionally omitted <==

Financial Statements

Year ending 31 December 2023

25

THE PARISH CHURCH OF ST MARGARET, RAINHAM Annual Report and Financial Statements of the PCC for the year ended 31[st ] December 2023

Financial Statements

Independent Examiner’s Report to the Parochial Church Council for the year ended 31 December 2023

I report on accounts for the year ended 31 December 2023, which are set out on pages 17-18.

Respective Responsibilities of the Trustees and the Independent Examiner

The church’s trustees are responsible for the preparation of the accounts. The church’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of Independent Examiner’s Statement

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of 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 a full audit, and consequently no opinion is given as to whether the accounts present a “true and fair view”, and the report is limited to those matters set out in the statement below.

Independent Examiner’s Statement

In connection with my examination, no matters have come to my attention.

26

THE PARISH CHURCH OF ST MARGARET, RAINHAM Annual Report and Financial Statements of the PCC for the year ended 31[st ] December 2023

==> picture [173 x 48] intentionally omitted <==

Natalie Harrison ACA FCCA CTA TEP

18th April 2024

Independent Examiner Beak Kemmenoe Chartered Accountants 1-3 Manor Road Chatham Kent ME4 6AE

27

THE PARISH CHURCH OF ST MARGARET, RAINHAM Annual Report and Financial Statements of the PCC for the year ended 31[st ] December 2023

Statement of Financial Activities for the Year Ended 31[st ] December 2023

INCOME AND
ENDOWMENTS
Donations and legacies
Income from charitable activities
Other trading activities
Investments
Other income
Total Income
EXPENDITURE ON
Raising funds
Expenditure on charitable
activities
Total Expenditure
Gains / losses on investment
assets
Net income / (expenditure)
resources before transfer
Transfers
Gross transfers between funds -
in
Gross transfers between funds -
out
Other recognised gains / losses
Gains / losses on investment
assets
Gains on revaluation, fixed assets,
charity's own use
Net movement in funds		 Unrestricted
Designated
Restricted
Endowment
Total
Prior Year
Funds
Funds
Funds
Funds
Funds
Funds
£
£
£
£
£
£
141,957
—
(500)
—
141,457
248,303
17,461
—
—
—
17,461
14,521
47,155
—
—
—
47,155
66,570
19,099
—
—
—
19,099
8,680
55,801
—
—
—
55,801
5,473
281,473
—
(500)
—
280,973
343,547
74,732
—
—
—
74,732
49,852
282,869
30,538
11,767
—
325,174
260,798
357,601
30,538
11,767
—
399,907
310,650
4
—
—
—
4
(338)
(76,124)
(30,538)
(12,267)
—
(118,929)
32,559
6,057
142,283
2,740
—
151,080
1,703
(145,023)
(2,982)
(3,076)
—
(151,080)
(1,703)
—
—
—
—
—
—
—
—
—
—
—
—
(215,089)
108,763
(12,603)
—
(118,929)
32,559

28

THE PARISH CHURCH OF ST MARGARET, RAINHAM Annual Report and Financial Statements of the PCC for the year ended 31[st ] December 2023 Reconciliation of funds Total funds brought forward 274,764 139,998 353,532 — 768,293 735,734 Total funds carried forward 59,674 248,761 340,928 — 649,364 768,293

29

THE PARISH CHURCH OF ST MARGARET, RAINHAM Annual Report and Financial Statements of the PCC for the year ended 31[st ] December 2023

Balance Sheet at 31 December 2023

Balance Sheet at 31 December 2023
Description This year
Last year
Fixed assets
Tangible
Investment
Total Fixed assets
Current assets
Debtors & Prepayments
Cash at bank & in hand
Total Current assets
Liabilities
Creditors - amounts falling due
in one year
Total Liabilities
Net Asset surplus(deficit)
Reserves
Excess / (deficit) to date
Starting balances
Gains/(losses) on investment assets
Total Reserves
Represented by
funds
Unrestricted
Designated
Restricted
Endowment
Total		 583,634
625,939
14
10
583,648
625,949
5,761
4,210
129,682
159,447
135,443
163,657
69,727
21,314
69,727
21,314
649,363
768,293
(118,933) (87,488)
768,293
735,734
4
(338)
649,363
768,293
59,674
274,763
248,761
139,998
340,929
353,532
—
—
649,363
768,293

Approved by the PCC on 20[th ] March 2024 and signed on their behalf by Revd Nathan Ward (PCC chairman)

==> picture [173 x 26] intentionally omitted <==

30

THE PARISH CHURCH OF ST MARGARET, RAINHAM Annual Report and Financial Statements of the PCC for the year ended 31[st ] December 2023

Notes to the Financial Statements

1 Accounting Policies

The PCC is a public benefit entity within the meaning of FRS102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, and with the Regulations’ “true and fair” provisions, together with FRS102 (2016) as the applicable accounting standards and the 2016 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP (FRS102)).

Assets

Consecrated and benefice property

In so far as consecrated and benefice property of any kind is excluded from the statutory definition of “charity” by Section 10(2)(a) and (c) of the Charities Act 2011 such assets are not capitalised in the financial statements.

Moveable church furnishings

These are capitalised at cost and depreciated over their useful economic life other than where insufficient cost information is available. In this case the item is not capitalised, but all items are included in the Church’s inventory in any case.

Tangible fixed assets

These are capitalised if they can be used for more than one year and cost at least £1,000. They are valued at cost or else, for gifts-in-kind, at a reasonable estimate of their open market value on receipt.

No cost information is available for the curates’ houses, so they are included at a cost that was considered to be representative of the fair market value when they were valued at 31 December 2001 to comply with the Charities Act. The Millennium Centre is valued at historical cost. All of the PCC’s properties are being depreciated over an expected useful life of 50 years with effect from 2002.

Equipment used within the church premises is depreciated on a straight-line basis over their useful economic lives. Individual items of equipment with a purchase price of £1,000 or less are written off when the asset is acquired.

Investments

Investments quoted on a recognised stock exchange or whose value derives from them are valued at market value at the year end.

Short term deposits

These are cash held on deposit either with the CCLA or at the bank.

Fund accounting

Endowment funds are restricted funds that must be retained as trust capital either permanently or subject to a discretionary power to spend capital as income, and where the use of any income or other benefit derived from the capital may be restricted or unrestricted depending upon the purpose for which the endowment was established in the first place.

31

THE PARISH CHURCH OF ST MARGARET, RAINHAM Annual Report and Financial Statements of the PCC for the year ended 31[st ] December 2023

Restricted funds comprise (a) income from endowments which is to be expended only on the restricted purposes intended by the donor and (b) revenue donations or grants for a specific PCC activity intended by the donor.

Unrestricted funds are income funds which are to be spent on the general purposes of the PCC.

Designated funds are general funds set aside by the PCC for use on future projects, and which are therefore not included in its “free reserves” as disclosed in the trustees’ report.

Incoming Resources

Resources expended

32

THE PARISH CHURCH OF ST MARGARET, RAINHAM Annual Report and Financial Statements of the PCC for the year ended 31[st ] December 2023

2 Analysis of income and expenditure

Donations and Legacies

Gift Aid Donations
Other Planned Giving
Collections
Donations (2a)
Gift Aid Recovered
Legacies
Grants (2b)
VAT Recovered
Total
Income from Church Activities
Income from Bazaar
Income from other activities
PCC Fees
DBF Fees
Total
Other Trading Activities
Millennium Centre Lettings
Total
Investments
Dividends & interest.
Rent – letting of Childscroft Rd
Total
Other Income
Insurance receipts
Events Income
Gain on sale of fixed assets
Wall Donations
Total
TOTAL INCOME		 Unrestricted
49,922
-
941
27,589
24,781
28,724
10,000
-		 Unrestricted
49,922
-
941
27,589
24,781
28,724
10,000
-		 Designated
Restricted
Endowment
This Year
Last
Year
-
-
-
49,922
57,202
-
-
-
-
249
-
-
-
941
7,199
-
(500)
-
27,089
41,846
-
-
-
24,781
18,794
-
-
-
28,724
29,992
-
-
-
10,000
92,060
-
-
-
-
961
141,957
1,085
2,166
14,210		 -
(500)
-
141,457
248,303
-
-
-
1,085
893
-
-
-
2,166
1,681
-
-
-
14,210
13,540
-
-
-
-
-
-
17,461
47,155		 -
-
-
17,461
14,521
-
-
-
47,155
66,570
47,155
2,299
16,800		 -
-
-
47,155
66,570
-
-
-
2,299
1,680
-
-
-
16,800
7,000
19,099
16,873
-
38,928		 -
-
-
19,099
8,680
-
-
-
-
-
5,473
-
-
-
-
16,873
-
-
-
-
-
-
-
38,928
55,801 -
-
-
55,801
5,473
281,473 -
(500)
-
280,973
343,547

33

THE PARISH CHURCH OF ST MARGARET, RAINHAM Annual Report and Financial Statements of the PCC for the year ended 31[st ] December 2023

Analysis of income and expenditure (continued)

Expenditure on:

Raising funds

Unrestricted Designated Restricted Endowment This Year Last Year
Cost of fund-raising events 6,597 - - - 6,597 1,448
Millennium Centre running 68,135 - - - 65,135 48,404
Costs
Sunburst Bookshop running - - - - -
costs
Total 74,732 - - - 74,732 49,852

Church activities

Missionary & charitable
giving:
Overseas missionary societies
Tafara Link (Harare Diocese)
Relief & development
Agencies
Home missions & other
church societies
Sub-total
Parish Share of diocesan costs
Salaries & wages of parish staff
Working expenses of clergy
Clergy housing expenses
Parish training & evangelism
Church insurance
Event Expenditure
Other church running expenses
Depreciation of properties &
Equipment
Church repairs & maintenance
Upkeep of services
Administration costs
Upkeep of churchyard
Church utility expense
Church fabric repairs
Heritage Project
Crypt
Total
TOTAL EXPENDITURE		 Unrestricted
Designated
Restricted
Endowment
This Year
Last Year
-
-
-
-
-
54
-
-
-
-
-
1,000
-
-
-
-
-
-
-
-
-
-
-
491
-
-
-
-
-
1545
51,362
-
-
-
51,362
66,700
42,318
-
-
-
42,318
36,615
968
-
-
-
968
2,715
3,651
-
-
-
3,651
6,923
9,488
-
-
-
9,488
9,488
3,900
-
-
-
3,900
4,214
15,817
-
-
-
15,817
-
11,488
-
-
-
11,488
29,732
-
30,538
11,767
-
42,305
42,328
4,296
-
-
-
4,296
4,228
8,459
-
-
-
8,459
12,415
9,495
-
-
-
9,495
7,356
3,041
-
-
-
3,041
5,938
12,014
-
-
-
12,014
13,151
73,868
-
-
-
73,868
5,280
32,343
-
-
-
32,343
12,170
3,922
3,922
-		 Unrestricted
Designated
Restricted
Endowment
This Year
Last Year
-
-
-
-
-
54
-
-
-
-
-
1,000
-
-
-
-
-
-
-
-
-
-
-
491
-
-
-
-
-
1545
51,362
-
-
-
51,362
66,700
42,318
-
-
-
42,318
36,615
968
-
-
-
968
2,715
3,651
-
-
-
3,651
6,923
9,488
-
-
-
9,488
9,488
3,900
-
-
-
3,900
4,214
15,817
-
-
-
15,817
-
11,488
-
-
-
11,488
29,732
-
30,538
11,767
-
42,305
42,328
4,296
-
-
-
4,296
4,228
8,459
-
-
-
8,459
12,415
9,495
-
-
-
9,495
7,356
3,041
-
-
-
3,041
5,938
12,014
-
-
-
12,014
13,151
73,868
-
-
-
73,868
5,280
32,343
-
-
-
32,343
12,170
3,922
3,922
-

282,869
30,538
11,767		 -
325,174
260,798
357,601
30,538
11,767		 -
399,907
310,650

34

THE PARISH CHURCH OF ST MARGARET, RAINHAM Annual Report and Financial Statements of the PCC for the year ended 31[st ] December 2023

3 Statement of Assets and Liabilities

Fixed Assets – Tangible Assets (3a)

General
Designated Freehold Property -
cost
Designated Freehold Property -
accumulated depreciation
-
Investment assets
14
Designated furniture - cost
-
Designated furniture –
accumulated depreciation
-
Designated office equipment –
accumulated depreciation
-
Millennium Centre – Freehold
-
property
Millennium Centre –
-
accumulated depreciation
Total
14
Current assets – Cash at bank & in hand
General
CBF Account
55,034
Church Repair Fund – church
-
Church Repair Fund – 60
-
Childscroft Road
Heritage Fund CBF Account
-
Operating Account
16,730
Petty Cash
-
Heritage Fund Account
-
Millennium Centre Current
-
Account
Tied Income Account
-
Millennium Centre Petty Cash
-
Total
71,764
Current assets – Debtors
General
Income Tax Recoverable
5,275
General Fund Prepayments
-
General Fund Accrued Income
-
Millennium Centre –
Prepayments
486
Millennium Centre – Accrued
-
Income
Total
5,761		 General
Designated Freehold Property -
cost
Designated Freehold Property -
accumulated depreciation
-
Investment assets
14
Designated furniture - cost
-
Designated furniture –
accumulated depreciation
-
Designated office equipment –
accumulated depreciation
-
Millennium Centre – Freehold
-
property
Millennium Centre –
-
accumulated depreciation
Total
14
Current assets – Cash at bank & in hand
General
CBF Account
55,034
Church Repair Fund – church
-
Church Repair Fund – 60
-
Childscroft Road
Heritage Fund CBF Account
-
Operating Account
16,730
Petty Cash
-
Heritage Fund Account
-
Millennium Centre Current
-
Account
Tied Income Account
-
Millennium Centre Petty Cash
-
Total
71,764
Current assets – Debtors
General
Income Tax Recoverable
5,275
General Fund Prepayments
-
General Fund Accrued Income
-
Millennium Centre –
Prepayments
486
Millennium Centre – Accrued
-
Income
Total
5,761		 General
-
14
-
-
-
-
-		 Designated
Restricted
Endowment
277,500
-
-
(31,979)
-
-
-
-
-
89,004
-
-
(59,943)
-
-
(22,186)
-
-
33,762
601,604
-
(33,379)
(270,749)
-		 This Year
Last Year
277,500
277,500
(31,979)
(109,585)
14
10
89,004
89,004
(59,943)
25,191
(22,186)
-
635,366
635,366
(304,128)
(291,536)
252,779
330,855
-
Designated
Restricted
Endowment
-
-
-
11
-
-
8
-
-
-
-
-
-
7,369
-
-
-
-
-
-
-
-
-
-
-
50,530
-
-
-
-		 583,648
625,950
This Year
Last Year
55,034
71,782
11
1,158
8
818
-
3,127
24,099
30,504
-
-
-
8,444
-
31.584
50,530
12,030
-
-
71,764
General
5,275
-
-
486
-		 19
57,899
-
Designated
Restricted
Endowment
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 129,682
159,447
This Year
Last Year
5,275
2,652
-
-
-
1,558
486
-
-
-
5,761 -
-
-		 5,761
4,210

35

THE PARISH CHURCH OF ST MARGARET, RAINHAM Annual Report and Financial Statements of the PCC for the year ended 31[st ] December 2023

Statement of Assets & Liabilities (continued)

Liabilities – Agency Accounts

Agency collections
Total
Liabilities – Creditors: Amounts
General fund accruals
Deferred income
Creditors for goods & services
NatWest Business Card
MC – Accruals
MC – Deferred income
MC – Creditors –
Goods/services
MC Security deposits
repayable
Total
Grand Total		 General
-		 General
-		 Designated
Restricted
Endowment
-
45,916
-		 This Year
Last Year
45,916
6,383
-
falling due in on
General
21,144
-
-
-
758
-
-
-		 -
45,916
-
e year
Designated
Restricted
Endowment
-
1,909
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 45,916
6,383
This Year
Last Year
23,053
10,687
-
1,400
-
-
-
2,794
758
-
-
-
-
-
-
50
21,902 -
1,909
-		 23,811
14,931
55,637 252,799
340,929
-		 649,364
768,293

36

THE PARISH CHURCH OF ST MARGARET, RAINHAM Annual Report and Financial Statements of the PCC for the year ended 31[st ] December 2023

4 Fund Movement

Church Repair Fund
(Designated)
Designated Fixed
Assets (Designated)
Heritage Fund
(Restricted)
St Margaret’s
Millennium Centre
(Designated)
St Margaret’s
Millennium Centre
(Restricted)
General Fund
(Unrestricted)
None (Agency)
Grand Total		 Opening
Incoming
Balance
resources
1,759
-
137,031
-
10,909
-
1,207
—
342,622
—
274,763
281,473
(500)		 Outgoing
Transfers
resources
—
(1,146)
(29,714)
140,448
—
690
(824)
—
(11,767)
(1,026)
(357,601)
(138,966)		 Gain/Loss
Journal
Closing
Entries
Balance
—
613
—
-
247,765
—
11,599
—
383
—
329,829
4
59,674
768,293
280,973		 (399,907)
—		 4
-
649,363

5 Related Trusts and Charities

The PCC has connections with the following registered charities:

  1. The Friends of St Margaret is a charity whose sole purpose is to raise funds for the upkeep of the church fabric.

  2. The Rainham Church Estate Charity is a Vicar and Churchwardens’ trust, the income from which is available for the maintenance of the church and the churchyard.

  3. Hope into Action West Kent and Medway which provide accommodation and support for the homeless. The PCC own all the shares of this CIO.

  4. Acts Six Ltd which is the trading company of the PCC

  5. The Rochester Diocesan Society and Board of Finance Charity Number 249339

37

THE PARISH CHURCH OF ST MARGARET, RAINHAM Annual Report and Financial Statements of the PCC for the year ended 31[st ] December 2023

6 Prior Period Comparative SOFA

STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2022

INCOME AND
ENDOWMENTS
Donations and legacies
Income from charitable activities
Other trading activities
Investments
Other income
Total Income
EXPENDITURE ON
Raising funds
Expenditure on charitable
activities
Total Expenditure
Gains/Losses on investment assets
Net income / (expenditure)
resources before transfer
Transfers
Gross transfers between funds -
in
Gross transfers between funds -
out
Other recognised gains / losses
Gains / losses on investment
assets
Gains on revaluation, fixed assets,
charity's own use
Net movement in funds		 Unrestricted
Designated
Restricted
Funds
Funds
Funds
£
£
£
248,303
−
−
14,521
-
−
66,570
−
-
8,630
10
40
5,473
-
−		 Endowment
Total
Prior Year
Funds
Funds
Funds
£
£
£
−
248,303
154,931
−
14,521
16,669
−
66,570
50,773
−
8,680
2,256
−
5,473
140,996
343,497
10
40		 —
343,547
365,627
49,852
-
—
218,470
30,561
11,767		 —
49,852
59,052
—
260,798
253,540
268,322
30,561
11,767		 —
310,650
312,594
(339) (339)
(6)
75,175
(30,890)
(11,727)		 —
32,558
53,036
1,271
432
—
(432)
(1,271)
—
—
—
—
—
—
—		 —
1703
154,454
—
(1,703)
(154,454)
—
—
2
—
—
—
76,015
31,729
(11,727)		 —
32,558
53,036

38

THE PARISH CHURCH OF ST MARGARET, RAINHAM Annual Report and Financial Statements of the PCC for the year ended 31[st ] December 2023 Prior Period Comparative SOFA continued

Reconciliation of funds
Total funds brought forward 198,748 171,727 365,258 — 735,734 682,697
Total funds carried forward 274,763 139,998 353,532 — 768,293 735,734

39

THE PARISH CHURCH OF ST MARGARET, RAINHAM Annual Report and Financial Statements of the PCC for the year ended 31[st ] December 2023

Detailed notes

2a. Donations

Included in the donations figure for 2023 is £38,929 worth of donations towards our wall repair cost. Included within this was a £30,000 donation from the Church Estate Charity.

2b. Grants received

A grant of £10,000 was received from the Church Estate Charity in 2023 to cover church maintenance, insurance and upkeep. There was also a total of £19,390 received in grants from the following funders:

National Lottery (News) £10000 Benefact (Wall) £7000 One Stop (Community Hub) £1000 One Stop (Just Say Hello Project) £250 Wilko (Just Say Hello Project) £15 Groundwork (Community Hub) £1125

3a. Tangible Fixed Assets

Freehold Property
Restricted		 Freehold Property
Designated		 **Fixtures Designated ** Office Equipment
Designated		 Totals
£ £ £ £ £
COST
At 1 January2023 601,604 277,500 122,766 25,191 1,027,061
At 31 December 2023
DEPRECIATION
At 1 January2023 258,981 26,406 98,820 16,914 401,121
Charge for theyear 11,767 5,573 19,693 5,272 42,305
At 31 December 2023 270,748 31,979 118,513 22,186 443,426
NET BOOK VALUE
At 31 December 2023 330,856 245,521 4,253 3,005 583,635
At 31 December 2022 342,623 251,094 23,946 8,277 625,940

St Margaret’s Millennium Centre is a restricted freehold property, whilst the designated properties comprise the curate’s house, located at 60 Childscroft Road.

The Millennium Centre is valued at historical cost. The curate’s house is included at the valuation provided by the PCC of £60,000 for our previous 40% holding of the property plus our purchase of the remaining 60% from the Diocese for £217,500 in 2022.

40

THE PARISH CHURCH OF ST MARGARET, RAINHAM Annual Report and Financial Statements of the PCC for the year ended 31[st ] December 2023

This was considered to be representative of the fair market value when it was valued at 31 December 2001 to comply with the Charities Act.

Investment Assets

The church was donated 14 Centrica shares. The price per share at 31/12/2023 was £1.005, giving a total value of £14.07.

41