OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← The Parochial Church Council Of The Ecclesiastical Parish Of Holy Trinity, Fareham

2023-12-31-accounts

Annual Report

and

Financial Statements

of the

Parochial Church Council

for Parish of Holy Trinity with St. Columba, Fareham

for Year ending 31[st] December 2023

Registered Charity No. 1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Contents Statutory Information ................................................................................................................................................... 3 The Parish and the Parochial Church Council ............................................................................................................... 4 Parish Vision Statement................................................................................................................................................ 5 Membership of the PCC ................................................................................................................................................ 6 Sub-committees of the PCC .......................................................................................................................................... 7 PCC Review ................................................................................................................................................................... 7 Public Benefit & Events ................................................................................................................................................ 8 Health and Safety/Buildings ......................................................................................................................................... 8 St Columba Church Development Project .................................................................................................................... 9 Safeguarding Policy....................................................................................................................................................... 9 Stewardship .................................................................................................................................................................. 9 Enviromental, Social and Governance Report ............................................................................................................ 10 Financial Review ......................................................................................................................................................... 10 Investment Policy ....................................................................................................................................................... 10 Reserve Policy ............................................................................................................................................................. 11 Statement of Trustees’ Responsibilities ..................................................................................................................... 11 Independent Examiner’s Report ................................................................................................................................. 12 Statement of Financial Activities ................................................................................................................................ 13 Balance Sheet ............................................................................................................................................................. 14 Statement of Cash Flows ............................................................................................................................................ 15 Notes to the Financial Statements ............................................................................................................................. 16

2

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Statutory Information

Priest in Charge...................................................................................................The Rev Dr Sam Cullen Priest in Charge...................................................................................................The Rev Dr Sam Cullen Priest in Charge...................................................................................................The Rev Dr Sam Cullen
Correspondence Address...................................................................................Holy Trinity Parish Office
West Street
Fareham
Hampshire
PO16 0EL
Parish Office Telephone Number ....................................................................................(01329) 232688
Charity Registration Number.......................................................................................................1135129
Main Bankers...................................................................................................................Lloyds Bank Plc.
43 West Street
Fareham
PO16 0BE
Solicitors...............................................................................................................................Brutton & Co.
228 West Street
Fareham
PO16 0AJ
Architects Holy Trinity Julian Vallis
Vallis & Hall Conservation Architects LLP
Unit 78, Chichester Enterprise Centre
Terminus Road
Chichester
West Sussex
PO19 8TX
Architects St Columba Studio BAD
18 A London Road (Second Flr))
Southampton
SO15 2AF
Independent Examiner ......Nigel Smith, BSc (Econ), CPFA
2 Dover Close
Fareham
Hampshire
PO14 3SU
Insurer................................................................................................Ecclesiastical Insurance Office Plc.
Beaufort House
Brunswick Road
Gloucester
GL1 1LF

3

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

The Parish and the Parochial Church Council

The parish of Holy Trinity with St Columba is a Team Ministry with two churches, Holy Trinity on West Street in Fareham town centre and St Columba on Hillson Drive in the suburban North West of Fareham. The Parish of approx. 19,200 people is managed by one Parochial Church Council (PCC) comprising members from both churches. The PCC has the responsibility for cooperating with the Clergy Team in achieving our Mission of “practising our faith together by reaching out, sharing what we have and partnering with others for the common good”. The Parish Values, Vision and Mission statement continue to inform PCC decision-making and are illustrated below.

At the beginning of 2023 the post of Rector had been in vacancy since May 2021. The Parish had been advised by the Bishop of the Suspension of the Right of Presentation while the Deanery discussed a possible reorganisation. In April 2023 our Mission Priest (0.5) Reverend Greg Bakker left the parish. From then until November 2023 our Vacancy Team of Rev Ruth Jagger (PTO) and churchwardens managed the parish during the vacancy, ensuring that our church life and mission to the communities we serve continued to be nurtured. We are particularly grateful to Reverend Ruth Jagger for the additional tasks she undertook at this time and also extend our thanks to the Reverend Ann Burr (PTO), our Reader, David Inns and our seven Worship Leaders: Judi Bushell, Lucy Docherty, Clive Ellam, Sue Craft, Abi Handley, Jane Whiteley and Jim Palmer for their ministry among us during 2023. Sue Craft began training as a Reader in September 2023.

We were delighted to welcome the Reverend Dr Sam Cullen as priest in charge of Holy Trinity with St Columba at her licensing by Bishop Jonathan on 8[th] November 2023 and look forward to her ministry with us.

Allen Cole continues to play the organ at St Columba and Ruth Jagger has kindly covered the role at Holy Trinity with help from Allen Cole and Peter Hallam. It has not been possible to find a new organist for Holy Trinity in 2023 but we continue to hope. Our thanks go to Sue and Pete Hall, who led informal band-led worship with instrumentalists and singers in both our churches throughout the year.

The pattern of worship we introduced in November 2022 in our two churches has continued and developed. It ensures that there is at least one Holy Communion in the parish each Sunday while our team of Worship Leaders who were commissioned by Bishop Jonathan in September 2022 lead Morning Worship at each church twice a month. Together with the regular congregation each week at HT our worship is valued by others watching online. We are grateful to Mark Coundley for the live streaming of our regular worship and special services over the past year and the help given by Emma Bourner, Sue and Pete Hall. Morning Worship at Holy Trinity reflects a more traditional feel while St Columba has deliberately made morning worship services held there less formal, fitting our mission and setting. The language at our family friendly service on the first Sunday is more accessible and the Café Church service on the third Sunday, consisting of discussion, reflection, craft and prayer over coffee and cake has become well established and supported over the year. It has helped develop a sense of community, mutual support and thinking within the congregation. The first Sunday service at St Columba is live streamed and we are grateful to Jim Palmer for all his expertise with IT. All services at St Columba use powerpoint presentation giving greater flexibility in services.

The PCC has two associated trusts, the Holy Trinity Parish Hall Trust, which is responsible for the upkeep of the Holy Trinity Church Hall, and the Helen Butter Waddell-Boyd Trust, administering a bequest. There is one charity, the Le Blanc Charity (257280), which provides a small income for the use of the PCC.

The PCC is a corporate body established by the Church of England, operating under the Parochial Church Council (Powers) Measure 1956 and registered with the Charity Number 1135129. The Team Ministry was inaugurated by Order in Council on 23rd June 1971. In July 2020 the Parish affiliated with the Inclusive Church Network (https://www.inclusive-church.org/).

4

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Parish Vision Statement

The Parish Vision Statement has been reviewed and adopted by the PCC and is:

5

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Membership of the PCC

Members of the congregation who are on the Church Electoral Roll are eligible to stand for election to the PCC. Elections to the PCC are conducted at the APCM in accordance with the Church Representation Rules. Each member stands for a term of three years and can stand for up to two consecutive terms.

List of PCC elected members at APCM on 19[th] April 2023.

Name Date elected for Current term Date for
current term re-election/retirement
Sarah Bourner (HT) 2021 2nd 2024
Karen Churchill (HT) 2021 2nd 2024
Sheila Holliday (HT) 2021 2nd 2024
Rowena Palmer (St C) 2023 2nd 2026
Charlotte Farrell (St C) 2021 1st 2024
Abi Handley (St C) 2021 2nd 2024
Ian Brewerton (St C) 2021 1st 2024
Rosemary Brewerton (St C) 2021 1st 2024
Helen McCarthy (St C) 2022 1st 2025
Donna Irving (HT) 2023 1st 2026
Julia Docherty (HT) 2023 1st 2026
Judi Bushell (HT) 2023 1st 2026 Resigned Nov 23

Other members of the PCC during 2023 were present by virtue of their official role:

Name Role Rev Dr Sam Cullen Priest-in Charge (Appointed Nov 23) Rev. Greg Bakker Mission Priest (0.5) (Resigned April 23) Clive Ellam Church Warden Holy Trinity Jim Palmer Church Warden St Columba Jane Whiteley Church Warden St Columba Lucy Docherty Deanery Synod Rep and Diocesan & General Synods Alison Jacobs Deanery Synod Rep Mark Coundley Deanery Synod Rep and Diocesan Synod Emma Bourner Safeguarding Officer

Others were co-opted onto the PCC after the 2023 APCM, by virtue of their honorary roles:

Name Role Sue Marshall Treasurer Alison Jacobs Joint-PCC Secretary Sue Craft Joint-PCC Secretary (resigned Aug 23)

6

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Sub-committees of the PCC

The PCC, as a decision-making body, operates through the following committees. Reports from the meetings of committees are given to PCC members for information, comment and questions. In this way the PCC monitors and approves much of the work carried out on its behalf, by the sub-committees. Whilst the PCC has the power to overrule a committee, in practice it seldom does.

Joint Standing and Finance & General Purposes Committee

The Standing Committee is the only committee which is required by law. It has the power to transact the business of the PCC between its meetings, subject to any directions given by the Council. This committee also oversaw the general financial affairs of the two churches in the parish by monitoring income and expenditure and preparing an annual budget. Accountable to the PCC, it also took responsibility for the stewardship of parish resources, including all parish properties (buildings and equipment).

Holy Trinity Church Committee (HTCC)

This committee is responsible for worship and church life, education, mission and outreach and Christian Unity within the church of Holy Trinity.

St Columba Church Committee (SCCC)

This committee is responsible for worship and church life, education, mission and outreach and Christian Unity within the church of St Columba.

PCC Review

The PCC held six meetings during 2023, all of which were conducted face to face. At every meeting, members were asked to declare any interest in agenda items and reports were always given on issues relating to health & safety and the safeguarding of children and vulnerable adults.

A summary of the main items discussed at PCC meetings during 2023 is given below.

• During this year, the Safeguarding Officer for the Parish, Emma Bourner, progressed the latest upgrading of the Parish safeguarding procedures and training. Significant progress was made on completing actions on the Safeguarding dashboard. All PCC meetings included a report on Safeguarding.

• The PCC reviewed its arrangements for inclusivity, using the booklet “All Stand – The gift of disabled people to the church” as a basis for discussion. It was agreed we need to take particular care to think about the arrangements we put in place to support those with non-visible disabilities.

7

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Public Benefit & Events

Details of services in the Parish that took place for the benefit of specific members of the public in 2023 are below:


Baptisms
Weddings
Funerals
 2023

8

3
12 church

5 crematorium

5 interment of ashes		 2022
11
3
17 church
6 crematorium/burial
5 interment of ashes

A selection of Sunday services from both Holy Trinity and St Columba were live streamed and available to view via social media.

Most Sunday services from Holy Trinity and the first in the month at St Columba were live streamed and available to view via social media.

Little Fishes, specifically for families with preschool children, met weekly on a Wednesday morning and several Messy Church and Little Fishes Go Big sessions were held during the year to include older children and more craft activities and worship. The monthly Praise Makers service was suspended in April 2023 pending review once the vacancy in the parish was filled.

Weekly Morning Prayer continued in our churches during 2023. Holy Trinity church was open to the public on Saturday mornings and Wednesday afternoons, thanks to the support of volunteers from our congregation.

At Holy Trinity and St Columba, the halls and churches were available to all and regularly used by a wide crosssection of the community including a weekly Lunch Club for the elderly, choral groups, children’s Uniformed Groups, Little Fishes/Messy Church, Slimming World, the Meon Health Group, Alcoholics Anonymous, Nutty Knitters, a community coffee morning, toddler group, table top sale, afternoon tea group and the SC Friendship group. St. Columba Church continued to be used fortnightly by the St. Mary’s Jacobite Syrian Orthodox Church.

In May 2023 a fire in St Columba Hall meant that all activities had to move to the Church although access to the hall for utilities was still possible. Subsequently it was decided that it was not feasible to reopen the meeting room in the hall for hire. We are delighted to have been able to welcome our community groups into the church building and to see the church in use throughout the week. We appreciate the difficulties this has caused with toilets, kitchens and storage temporarily remaining in a separate building and thank our hirers for the way they have adapted. Work continues in how to develop the facilities at St Columba to meet church and community needs. HT hall and both churches are available for private hire through the office.

Clergy and lay workers continued to make connections with local schools in 2023. Collective worship at St Columba Primary was led by Rev Greg and our community worker, Sally Dewberry, and a small group of parishioners went into school to listen to young readers. Christmas hampers were again given to the most vulnerable families at the school and were received with great delight. Local schools came to our churches for services at Easter, end of school year, Harvest and Christmas.

Health and Safety/Buildings

There have been no major H&S issues at Holy Trinity in 2023. A couple of child related accidents occurred during Messy Church sessions but they were dealt with effectively by the management team and did not result in the need to change any of the procedures associated with Messy Church. In terms of policies the most notable addition was the introduction of a policy to control the use of mobility scooters within the church and the hall. This was in response to concerns over the reported dangers with lithium batteries and their risk of spontaneous combustion. There was some concern over the state of the large ash tree at St Columba which dropped a branch due to ash die-back. As the tree overhung the railway line, we have been unable to deal with this ourselves and the liaison with Network Rail has been protracted.

8

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

St Columba Church Development Project

A small fire in the church hall at St Columba in May 2023 caused the hall meeting space to be closed and activity to be moved into the main church space. On the whole, this has been a positive move though there are issues with the remote access to toilets, kitchen and storage.

Subsequent analysis indicated the presence of asbestos in the floor tiles in the hall and, as the fire had burnt through the carpet into the floor tiles, it was agreed that the hall meeting space should be permanently closed.

The option to do nothing and continue to rely on the old hall and its substandard facilities no longer exists – we agreed that we must do something. During the course of 2023, we have appointed a church architect – Darren Bray of Studio Bad, Southampton – and initiated a Feasibilty Study to look at options for the way forward. This is due to progress and report during 2024. Meanwhile, we have continued to make minor changes to improve the useability of the church for its hirers.

Safeguarding Policy

Stewardship

The Stewardship Committee did not meet in 2023, following the decision of the PCC to subsume the role of the Committee into PCC meetings until a new Stewardship chair can be found.

We continue to recognise the financial difficulties some will have faced in maintaining their stewardship in 2023 and give thanks to everyone who has continued with their regular giving through the Parish Giving Scheme, standing orders or weekly envelopes. Moreover, we give thanks to all those who responded to the specific needs of the year either by increasing their regular pledge giving or by one off donations. In addition, there has again been generous support to appeals for food hampers for families at St Columba Academy which was much appreciated and needed by the families concerned. The Covid Appeal has donated £24.6k to local CAB clients, Easington Parish and the Roberts Centre since its inception in 2020 and had a balance of £3.2k at the end of 2023.

9

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Enviromental, Social and Governance Report

E is for Environment

Holy Trinity and St Columba have a key priority to work towards sustainability and Net Zero. Today we work to maintain the parish buildings and grounds within our care and actively look for energy reduction opportunities. Holy Trinity has Solar Panels fitted to the hall to help reduce our carbon footprint. At present we use screens at St Columba to reduce the amount of paper we use within services. A recently taken carbon footprint analysis shows that our annual footprint is 15.4 Gross C02 emissions (Tonnes) for Holy Trinity and 13 Gross C02 emissions (Tonnes) for St Columba. Our Gas Heating is our primary producer of CO2. This we will plan to replace in future refurbishment projects.

S is for Social

Holy Trinity and St Columba value their employees and recognise the importance of paying a living wage. Policies for equal opportunities, training and development and health and safety are published on our website and reviewed by the Parochial Church Council annually. We are part of the Inclusive Church Network and Christians Together in Fareham. The Parish endorses the Fair Trade movement and its products.

G is for Governance

Holy Trinity and St Columba take their governance duties seriously. All new PCC members undergo regular training in the duties of Trustees. The trustees review our investments on an annual basis and take advice from the Diocesan Investment Advisory Group. Investments are made in line with the Church of England’s Ethical Investment Advisory Group guidelines. We have worked hard to align our Vision and Action plan within a set of values that reflect our Christian mission and witness.

Financial Review

We began the year expecting to be incurring a deficit of about £50,000 in the General Fund by the end of the year but actually incurred a deficit of only £21,901. Income was more than budget due to legacies and higher than expected gift aid receipts although interest was lower than budgeted.

In 2023, expenditure in the General Fund was just under the budget partly due to the vacancy. The Parish Share, the amount due to the Diocese, was slightly less than budgeted as they decided not to make an increase for the year after the budget was set.

The Holy Trinity Hall made a deficit during the year amounting to £5,085 (2022 – deficit of £5,439) so the useage may need to be looked at during 2024. The St Columba Hall made a surplus of £1,441 during 2023 (surplus of £4,928 in 2022) although all hires since the fire are included in the general fund as they have been moved to the Church. The balance of the fire insurance payout has been moved to the St Columba Development fund until future plans are confirmed.

Gains on Investments during 2023 were £81,230 compared to a loss in 2022 of £120,530. The total funds of the Parish are now £1,832,220 although £287,060 is in Endowment funds of which the Parish can only use the interest and £1,511,605 is in Restricted or Designated funds for particular projects. The General fund has reduced by £21,901 during the year to £33,555.

The PCC would like to thank the generosity of the Parish and community who have made donations during the year.

Investment Policy

The PCC has in place the following investment policy.

10

Charity No.1135129

,
those fundswill notrecoverwithinayear,atransfer fromtheGeneral fundwill bema
insolvent,transferswillbe madeproportionallyfrom all the designatedfunds.ThePCC
during2024and makethenecessary adjustments.		 ,
those fundswill notrecoverwithinayear,atransfer fromtheGeneral fundwill bema
insolvent,transferswillbe madeproportionallyfrom all the designatedfunds.ThePCC
during2024and makethenecessary adjustments.
The funds covered bythisreserve policy and theircurrentlevel of reserves are as follows:
Requiredinlnreservesln excess of/
Fund
reservesasat2023
(shortby)
e€€
GeneralFund 57,549
33,555
(23,ee4)
Messy Church (restricted) 480
2,715
2,235
HT Hall (restricted) 6,525
(5,085)
(11,610)
SC Hall(restricted) 1,017
19,136
18,1 19

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Independent Examiner’s Report To the members of the Holy Trinity with St. Columba Parochial Church Council

I report on the accounts of the PCC for the year ended 31 December 2023, which are set out on pages 13 to 30.

Respective responsibilities of the PCC and the examiner

The members of the PCC are responsible for the preparation of the accounts who consider for this financial year an audit is not required under section 144 of the Charities Act 2011 (the 2011 Act) or the Church Accounting Regulations 2006 (the Regulations) and that instead, an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commission and the Church guidance, 2006 edition. 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an 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 matter has come to my attention:

  1. which gives me reasonable cause to believe that, in any material respect, the requirements:

  2. to keep accounting records in accordance with section 130 of the Charities Act; and

  3. to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Charities Act and the Church Accounting Regulations

  4. have not been met; or

  5. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Nigel Smith, BSc (Econ), CPFA Fareham Hampshire PO14 3SU

Date: 21[st] March 2024

12

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Statement of Financial Activities For the year ended 31[st] December 2023

Notes
Incoming and endowments from:
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investment income
5
Other income
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Other
10
Total expenditure
Net gains/(losses) on investments
Net income/(expenditure)
Transfers between funds
Gross transfers between funds – in
Gross transfers between funds - out
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 2023
2022
Unrestricted
Funds
Designated
Funds
Restricted
Funds
Endowment
Funds
Total
Funds
Total
Funds
£
£
£
£
£
£
121,223
5,000
8,195
–
134,418
136,954
13,727
3,588
-
–
17,315
11,600
362
18
16,995
–
17,375
20,011
1,882
17,504
7,673
8,360
35,419
30,576
10,142
13,750
2,660
-
26,552
14,938
147,336
39,860
35,523
8,360
231,079
214,079
341
-
356
201
898
706
150,944
8,112
31,769
1,150
191,975
172,648
21,362
4,297
6,763
6,294
38,716
40,614
172,647
12,409
38,888
7,645
231,589
213,968
3,413
45,778
11,725
20,314
81,230
(120,530)
(21,898)
73,229
8,360
21,029
80,720
(120,419)

-
3
1
-
4
88,621
(3)
(1)
-
-
(4)
(88,621)
(21,901)
73,231
8,361
21,029
80,720
(120,419)
55,456
543,090
886,923
266,031
1,751,500
1,871,919
33,555
616,321
895,284
287,060
1,832,220
1,751,500

13

Charity No.1135129

2023 2022
Total Total
Notes Funds Funds
e €
Fixedassets
Tangible assets 16 613,264 619,887
lnvestments 17 977,510 883,473
1,590,774 1,503,360
Current assets
Stocks 18
Debtors 19 9,235 7,808
Cashatbankandinhand 20 259,086 269,640
268,321 277,448
Liabilities
Creditors: amounts due in oneyear 21 26,875 29,308
Netcurrent assets 241,46 248,140
Total assets lessliabilities 1,832,220 1,751,500
Thefundsof theParish
Generalfund 24a 33,555 55,456
Designated funds 24b 616,321 543,090
Restricted funds 24c 895,284 886,923
Endowment funds 24d 287,060 266,031
TotalfundsoftheParish 1,832,220 1,751,500

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Statement of Cash Flows For the year ended 31[st] December 2023

Notes
Cash flows from operating activities
Net cash provided by operating activities
22
Cash flows from investing activities
Dividends, interest and rents from investments
Less dividends re-invested
Proceeds from the sale of property, plant and equipment
Purchase of property, plant and equipment
Proceeds from the sale of investments
Purchase of investments
Net cash provided by investing activities
Cash flows from financing activities
Repayments of borrowing
Cash inflows from new borrowing
Receipt of endowment
Net cash provided by financing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting
period
Cash and cash equivalents at the end of the reporting period
23		 2023
Total
Funds
£
(33,166)
35,419
(12,807)
-
-
-
-
22,612
–
–
–
–
(10,554)
269,640
259,086		 2022
Total
Funds
£
(23,812)
30,576
(13,393)
-
-
31,215
-
48,398
–
–
–
–
24,586
245,054
269,640

15

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements For the year ended 31[st] December 2023

1 Accounting Policies

Basis of preparing the accounts

The financial statements have been prepared under the Charities Act 2011 in accordance with all applicable accounting standards as modified by the Church Accounting Regulations 2006 and the Statement of Recommended Practice for Accounting and Reporting SORP FRS 102 Second Edition (effective 1st January 2019) issued by the Charity Commissioners for England & Wales.

The particular accounting policies adopted are set out below.

Accounting convention

The financial statements have been prepared on an accruals basis under the historical cost convention as modified for the revaluation of property and investments assets. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members.

Recognition of Income

Income from donations, Gift Aid claims, dividends and hall hiring are recognised in the year that they relate to. Grants and legacies are accounted for when the PCC is legally entitled to the amounts due. Pledged giving, loose plate collections and interest are recognised when received.

All incoming resources are accounted for gross and are shown separately from any direct expenditure incurred.

Recognition of expenditure

Expenses are recognised in the year that they relate to. The cost of raising funds, charitable activities and other costs are detailed in the notes to the accounts.

Each year the PCC aims to make grants and donations (Parish Giving) based on a percentage of pledge income received, further details are given in note 9 of the accounts.

VAT on expenditure is irrecoverable and as such all expenditure within the financial statements are shown at the gross amount. Where VAT can be reclaimed as part of the Listed Places of Worship Grant scheme, the expenditure is still shown as gross with the income from the grant being recognised as income upon receipt.

Recognition of liabilities

Liabilities are recognised on the accruals basis in accordance with normal accounting principles, modified where necessary in accordance with the guidance given in the SORP.

Fund Structure

Unrestricted funds are general funds, which can be used by the PCC for ordinary purposes.

Designated funds are those initially received as unrestricted funds but are designated by the PCC for specific purposes. Details of designated funds are given in note 24 to the accounts.

Restricted funds represent income from specific activities and trusts which are only to be spent in accordance with the stipulations set out at the time of the donation. Any balance remaining unspent at the end of each year is carried forward to be used in future years.

The endowment funds relate to the Helen Butter Waddell-Boyd Will Trust. The capital must be maintained and only the income gained from investing the endowment may be spent in accordance with the stipulations of the trust.

16

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2023 (continued)

1 Accounting Policies (continued)

Fixed assets

Fixed assets are depreciated over their estimated useful economic lifetime. Where this is unknown or is difficult to determine, the default policy under Equipment, Fixture and Fittings are used. The following depreciation policies were used during the year:

Equipment, Fixture and Fittings 20% straight line (over 05 years) Organs 10% straight line (over 10 years) Solar Panels 04% straight line (over 25 years)

Consecrated and beneficed property is excluded from the accounts under section 10(2) to (4) of the Charities Act 2011.

Moveable church furnishings held by the Rector and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted for as inalienable property unless consecrated. They are listed in the church’s Inventory, which can be inspected (at any reasonable time). For inalienable property acquired before 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements. Items acquired since 1st January 2000 have been capitalised and depreciated in the accounts over their estimated useful economic lifetime on a straight-line basis. All expenditure incurred during the year on consecrated or beneficed buildings, individual items under £1,000 or on the repair of movable church furnishings acquired before 1st January 2000 are written off.

Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently revalued at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on these revaluation and disposals throughout the year.

The PCC does not acquire put options, derivatives or other complex financial instruments. The main form of financial risk faced by the PCC is that of volatility in equity markets and investment markets.

Stock

Stock is valued at the lower of cost or net realisable value. Stock counts are taken at least annually on or as close to 31[st] December as practically possible. There are no stocks currently held in the Parish.

2 Analysis of income from donations and legacies

2023 2022
Unrestricted Designated Restricted Endowment Total Total
Funds Funds Funds Funds Funds Funds
£ £ £ £ £ £
Gift Aided pledged giving 81,089 - - - 81,089 81,795
Gift Aid recovered on pledged giving
20,272		 - - - 20,272 20,449
Non-gift Aided pledged giving 5,844 - - - 5,844 4,911
Loose plate 2,800 - - - 2,800 4,584
General donations 2,377 - - - 2,377 2,439
Gift aid recovered on donations 2,723 - 4 - 2,727 1,264
Specific donations 568 - 2,991 - 3,559 4,124
Legacies received 5,000 5,000 - - 10,000 11,638
Grants received 550 – 5,200 – 5,750 5,750
Total donations and legacies 121,223 5,000 8,195 – 134,418 136,954

17

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2023 (continued )

3 Analysis of income from charitable activities

Donations for use of churches
Parish events
Friendship Group
PCC Fees
Total income from charitable
activities		 Unrestricted
Funds
£
Designated
Funds
£
Restricted
Funds
£
Endowment
Funds
£
2023
Total
Funds
£
2022
Total
Funds
£
10,353
-
-
-
10,353
3,961
-
-
-
-
-
-
-
3,374
3,588
-
-
-
-
-
3,588
3,374
3,369
4,270
13,727
3,588
-
-
17,315
11,600

4 Analysis of income from other trading activities

HT Hall letting income
SC Hall letting income
Fairs and fundraising income
Card fees
Total other trading activities		 Unrestricted
Funds
£
Designated
Funds
£
Restricted
Funds
£
Endowment
Funds
£
2023
Total
Funds
£
2022
Total
Funds
£
-
-
11,877
-
11,877
10,250
-
379
(17)
-
18
-
4,426
707
(15)
-
-
-
4,426
1,104
(32)
8,172
1,614
(25)
362
18
16,995
-
17,375
20,011

5 Analysis of investment income

Investment income
Dividends received
Interest received
Total investment income		 Unrestricted
Funds
£
Designated
Funds
£
Restricted
Funds
£
Endowment
Funds
£
2023
Total
Funds
£
2022
Total
Funds
£
1,081
7,927
3,799
1,884
14,691
14,900
801
9,577
3,874
6,476
20,728
15,676
1,882
17,504
7,673
8,360
35,419
30,576

6 Analysis of other income

Car park and ground rents
Other incoming resources
Total other income		 Unrestricted
Funds
£
Designated
Funds
£
Restricted
Funds
£
Endowment
Funds
£
2023
Total
Funds
£
2022
Total
Funds
£
8,882
-
-
-
8,882
12,066
1,260
13,750
2,660
-
17,670
2,872
10,142
13,750
2,660
-
26,552
14,938

Note: Designated funds include the insurance claim for the fire at St Columba Hall.

18

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2023 (continued )

7 Analysis of expenditure on raising funds Analysis of expenditure on raising funds
2023 2022
Unrestricted Designated Restricted Endowment Total Total
Funds Funds Funds Funds Funds Funds
£ £ £ £ £ £
Stewardship expenses 146 - - - 146 158
Cards for resale - - - - - -
Catering and refreshment 195 - 356 201 752 418
expenses
Fairs and fundraising - - - - - 90
expenses
Fair Trade expenditure - - - - - 40
Total raising funds 341 - 356 201 898 706

19

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2023 (continued )

8 Analysis of expenditure on charitable activities

Parish event expenses
Parish giving – Overseas
Parish giving - National Agencies
Parish giving - Local Charities
Special collections paid
Parish & Deanery share
Clergy travel costs
Clergy telephones
Clergy post and stationery
Clergy books and publications
Clergy hospitality
Clergy miscellaneous costs
Altar requisites
Church flowers
Training, education and books
Friendship Group
Messy Church & Little Fishes exp
Childrens Work Exps
Sundry general donations
HT organist and choir
SC organist and choir
Depreciation
HT Heat, light and water
HT Insurance
HT Repairs
HT Miscellaneous
HT Upkeep of grounds
SC Heat, light and water
SC Insurance
SC Repairs
SC Miscellaneous
SC Church Cleaning
SC Upkeep of grounds
HT Hall Heat, light and water
HT Hall Insurance
HT Hall Repairs
HT Hall Cleaning
HT Hall Sundries
SC Hall Insurance
SC Hall Repairs
SC Hall Cleaning
SC Hall Sundries
Hub Rent
Hub Light, heat & water
Hub Insurance
Hub Repairs & maintenance
Hub Sundries
Total expenditure on charitable
activities		 Unrestricted
Funds
£
Designated
Funds
£
Restricted
Funds
£
Endowment
Funds
£
2023
Total
Funds
£
2022
Total
Funds
£
-
-
-
-
-
34
1,862
-
-
-
1,862
1,858
2,793
-
-
-
2,793
2,787
1,862
-
-
-
1,862
1,858
-
-
-
-
-
7
101,426
-
-
-
101,426
101,426
(48)
-
-
-
(48)
555
-
72
-
-
72
458
-
-
-
-
-
3
26
-
-
-
26
100
-
-
-
-
-
153
62
-
(22)
-
40
128
415
-
-
-
415
601
-
-
532
-
532
439
176
-
-
-
176
329
-
2,657
-
-
2,657
3,149
-
-
1,303
-
1,303
1,452
-
-
292
-
292
556
10
-
500
-
510
145
673
-
-
-
673
119
1,953
-
-
-
1,953
1,669
-
-
6,623
-
6,623
6,623
6,305
-
-
-
6,305
2,572
2,062
-
-
-
2,062
1,875
6,122
912
-
1,150
8,184
5,831
1,008
-
-
-
1,008
1,036
-
-
-
-
-
29
13,629
-
-
-
13,629
4,673
689
-
-
-
689
633
1,750
-
-
-
1,750
3,085
1,391
4,471
-
-
5,862
1,435
538
-
-
-
538
-
3,699
-
-
-
3,699
1,422
-
-
9,924
-
9,924
4,223
-
-
2,062
-
2,062
1,875
-
-
725
-
725
4,327
1,982
-
6,476
-
8,458
6,937
-
-
386
-
386
347
-
-
1,378
-
1,378
1,265
-
-
56
-
56
-
559
-
1,534
-
2,093
2,326
-
-
-
-
-
52
-
-
-
-
-
3,750
-
-
-
-
-
(38)
-
-
-
-
-
287
-
-
-
-
-
263
-
-
-
-
-
(6)
150,944
8,112
31,769
1,150
191,975
172,648

20

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2023 (continued)

9 Analysis of grants and donations payable by the PCC

Each year, the PCC aims to make grants and donations to other charities equal to approximately 7½% of the pledge income received during the year. Additionally, special collections are held during the year for various charities at weddings, funerals, baptisms, and other special services. These special collections are not recognised as income and are instead held on the balance sheet as a liability until such time as they are paid.

In 2022 the decision was made by the PCC to support 7 charities for 2 years through our Parish Giving and to develop stronger links. The choices of charities were selected from the suggestions of the congregation.

2023
£
Citizens Advice Fareham
Two Saints
The Amber Trust
The Naked Truth Project
Debt Counselling Service, Easington
Justice Defenders
Medicine Sans Frontiers
931
931
931
931
931
931
931
Total
6,517
In addition to the above, the following special collections were held during the year.
2023
Special collections held during the year
Basics Bank
£
355
Bishop’s Lent Appeal
British Legion
34
156
Christian Aid
Covid 19 Emergency Fund
Crisis
HIHCT
-
200
486
346
Rowans Hospice
SCA school lunches/hampers
Two Saints
Ukraine Appeal
Unicef
-
900
479
-
175
Total collected for charities
3,131		 2022
£
929
929
929
929
929
929
929
6,503
2022
£
30
7
356
153
8,902
441
50
5
1,171
411
15
-
11,541

21

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2023 (continued)

10 Analysis of other costs

Other costs
Subscriptions
Printing and stationery
Postage
Office Telephone
Salaries
Employer’s pension & NI
contribution
Legal & professional fees
SC Dev exps
Bank charges and interest
Sundry expenses
Total other costs		 Unrestricted
Funds
£
Designated
Funds
£
Restricted
Funds
£
Endowment
Funds
£
2023
Total
Funds
£
2022
Total
Funds
£
1,894
-
-
-
1,894
2,127
1,937
-
-
55
1,992
1,991
150
-
-
-
150
136
642
-
-
-
642
648
14,561
4,001
5,767
6,155
30,484
27,430
318
-
-
-
318
228
1,635
296
912
-
2,843
7,229
-
-
-
-
-
276
89
-
84
84
257
254
136
-
-
-
136
295
21,362
4,297
6,763
6,294
38,716
40,614

11 Surplus for the financial year

The Surplus for the financial year is stated after charging:
Operating leases - rent
Depreciation of owned fixed assets
Staff costs and remunerations
Gross Salaries
Employer’s National Insurance
Employer’s Pension Contributions
Total		 2023
£
-
6,623
2023
£
41,587
58
266
41,911		 2022
£
3,750
6,623
2022
£
37,694
26
198
37,918

12 Staff costs and remunerations

The average number of employees during the year was 6 (2022 – 6). The average number of full time equivalent employees during the year amounted to 1.6 (2022 – 1.6).

During the year there were no employees (2022 – nil) with remunerations (full time or pro-rata) in excess of £60,000 per annum. The pension contributions are operated through NEST.

22

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2023 (continued)

13 Trustees’ remunerations and expenses

No members of the PCC have received a remuneration either in the current year or the previous year. Various members of the PCC were reimbursed for sundry items that they purchased on behalf of the Parish, no unreceipted expenditure was paid to PCC members.

14 Operating Leases

At the year end, the PCC had annual commitments under non-cancellable operating leases as set out below:

Total minimum lease payments:
within one year
within two to five years
Total		 2023
£
1,094
4,376
5,470		 2022
£
-
-
-

At the end of 2023 the Parish entered a 5 year lease on a printer.

15 Related party transactions

During the year total donations from all PCC members while in office amounted to £25,342 (2022 - £21,270).

The Scout Group have sole use of the Scout Hut, a building owned by the PCC. During the year expenditure relating to insurance, repairs, and utilities paid for by the PCC were recharged totalling £1,125 (2022 - £1,055. The balance owed by the related party at the year end amounted to £262 (2022 –£316)

Lucy Docherty sits on the Board of Trustees for The William Price Charitable Trust representing the Parish. The Trust provides grants to the PCC, amongst other organisations, for the education of under 25s in furthering their Christian upbringing. During the year the PCC received £5,000 (2022- £5,000) from the Trust which was used to fund Messy Church and other children’s activities.

23

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2023 (continued)

16 Fixed assets

.
Asset cost or valuation
amount
At 1stJanuary 2023
Additions
Disposals
At 31stDecember 2023
Accumulated
Depreciation
At 1stJanuary 2023
Charge for the year
Eliminated on disposals
At 31stDecember 2023
Net Book Value
At 1stJanuary 2023
At 31stDecember 2023		 Hall
Property
£
600,000
–
–
600,000

-
–
–
–
600,000
600,000		 Solar
Panels
£
9,500
–
–
9,500

4,180
380
–
4,560
5,320
4,940		 Fixtures
&
Fittings
£
39,814
-
-
39,814
39,814
-
-
39,814
-
-		 HT
Kitchen
refurb
£
31,215
-
-
31,215
16,648
6,243
-
22,891
14,567
8,324		 Total
£
680,529
-
-
680,529
60,642
6,623
-
67,265
619,887
613,264

Hall Property comprises of the Holy Trinity Parish Centre (including Scout Den) at a value of £500,000 and the St. Columba Church Hall at a value of £100,000. The original cost of these properties is unknown and has been revalued to a nominal value. As the PCC will not be selling either of these properties no impairment or further revaluations are considered necessary this year.

24

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2023 (continued)

17 Fixed asset investments

Unrestricted
Investments
Designated
Investments
Restricted
Investments
£
£
£
Valuation
Market value at 1stJanuary 2023
35,027
483,517
129,778
Additions at cost and dividends
reinvested
1,080
7,928
3,799
Carrying value of disposals
–
–
-
Net gains/(losses) on revaluation of
investments
3,413
45,777
11,724
Market value at 31st December
2023
39,520
537,222
145,301
Investments held in the UK
25,214
342,749
92,703
Investments held outside of the UK
14,306
194,473
52,598
Total market value
39,520
537,222
145,301		 HBWB
Investments
£
235,151
-
-
20,316
255,467
178,081
77,386
255,467		 Total
£
883,473
12,807
-
81,230
977,510
638,747
338,763
977,510

Investments held outside of the UK relate to holdings in Iberdrola plc. and CBF investment funds which have partial overseas holdings to which the PCC have no overall control of their investment.

18 Stock

There are no stocks of goods for re-sale in the Parish

19 Debtors

Gift Aid
Investment income due
Prepayments
Other debtors
Total		 2023
£
3,436
2,221
776
2,802
9,235		 2022
£
2,258
161
772
4,617
7,808

20 Cash at bank and in hand

Cash in hand
Current accounts
Deposit accounts
Total		 2023
£
211
114,722
144,153
259,086		 2022
£
814
110,422
158,404
269,640

25

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2023 (continued)

21 Creditors: amounts falling due within one year

21 Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 5,558
2,300
Social security and other taxes 924 833
Special Collections creditor 6,327 11,680
Parish Giving creditor 6,517 6,503
Other creditors 7,549 7,992
Total 26,875 29,308
22 Reconciliation of net movement in funds to net cash flows from operating activities
2023 2022
£ £
Net movements in funds for the reporting period (as per the
statement of financial activities)		 80,720 (120,419)
Adjustments for:
Depreciation charges 6,623 6,623
(Gains)/losses on investments (81,230) 120,530
Dividends, interest and rents from investments (35,419) (30,576)
(Increase)/decrease in stocks - 40
(Increase)/decrease in debtors (1,427) (2,234)
Increase/(decrease) in creditors (2,433) 2,224
Net cash provided by operating activities (33,166) (23,812)
23 Analysis of cash and cash equivalents
2023 2022
£ £
Cash in hand 259,086 269,640
Notice deposits (less than 3 months) – –
Overdraft facility repayable on demand – –
Total cash and cash equivalents 259,086 269,640

26

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2023 (continued)

24 Analysis of individual funds

The follow analysis shows the movements within individual funds.

24a Unrestricted Funds
General Fund
Total Unrestricted
24b Designated
Dr Collin’s Memorial Fund
HT Roof Repair Fund
Memorial Garden Fund
Organ Replacement Fund
Specific Purposes Fund
St. Columba Development
Fund
Parish Capital Fund (Zodiac
site)
Total Designated
24c Restricted
Hall Property Reserve
HT & SC Flower Funds
HT Choir Fund
HT Parish Hall
HT Parish Hall Extra-
Ordinary
HT Major Projects
Messy Church/Little Fishes
Fund
Prices Trust Fund
Quest Operating Fund
Restoration Fund
SC Choir Fund
SC Hall Fund
Specific Purposes Fund
St Columba Development
Fund
Total Restricted
24d Endowment
HBWB Trust Capital
HBWB Trust Revenue
Endowment Total		 Opening
Balance
£
55,456		 Income Expenditure
Transfers
Gains/
Losses
Closing
Balance
£
£
£
£
£
147,336
172,647
(3)
3,413
33,555
55,456 147,336
172,647
(3)
3,413
33,555
14,861
72,202
533
6,080
143
228,405
220,866		 4,362
6,729
2
-
12,496
2,267
-
-
6,257
80,726
18
-
-
-
551
190
-
-
-
6,270
23
-
-
-
166
26,280
5,680
-
20,750
269,755
6,720
-
-
18,771
246,357
543,090 39,860
12,409
2
45,778
616,321
600,000
1,844
1,035
2,406
145,693
61,303
2,528
1,249
185
23,697
384
17,695
5,664
23,240		 -
–
–
–
600,000
1,061
1,032
-
-
1,873
35
-
-
-
1,070
12,082
19,574
1
-
(5,085)
6,403
6,623
-
11,725
157,198
2,083
-
-
-
63,386
1,628
1,441
-
-
2,715
5,000
6,255
-
-
(6)
6
-
-
-
191
799
-
-
-
24,496
13
-
-
-
397
4,492
3,051
-
-
19,136
158
-
-
-
5,822
1,763
912
-
-
24,091
886,923
233,901
32,130		 35,523
38,888
1
11,725
895,284
100
-
-
20,314
254,315
8,260
7,645
-
-
32,745
266,031 8,360
7,645
-
20,314
287,060
1,751,500 231,079
231,589
-
81,230
1,832,220

27

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2023 (continued)

24 Analysis of individual funds (continued)

Dr Collins Memorial Fund

During 2012, a legacy was received from the late Dr. Margaret Collins. This legacy was to be split between the two churches to use as each church council see fit. HTCC allocated part of their portion to purchasing new chairs for the Parish Centre in 2015, a coffee machine in 2016, part of the cost of the HT notice boards in 2017, a fence around the HT memorial garden and a sign at SC in 2018, a stable door for the Parish office in 2021, and in 2022, £15,350 was used to fund the Hub deficit from the SC portion. The fund continues to fund the Friendship Group.

HT Roof Repair Fund

The Holy Trinity Roof Repair Fund is a designated fund that holds a portion of the proceeds of the sale of the Miller Drive property.

Memorial Garden Fund

The Memorial Garden Fund is a designated fund to maintain the memorial garden in the grounds of Holy Trinity.

Organ Replacement Fund

The Organ Replacement Fund is a designated fund which is used for maintenance of the organs.

Specific Funds

This is a joint designated and restricted fund for the purpose of holding short-term designated and restricted income that is expected to be used within a couple of years which does not warrant the creation of a dedicated fund. It now holds the balance of the defibrillator fund for future maintenance.

SC Development Fund

The St. Columba Development Fund is a joint designated and restricted fund. The designated fund arose from the proceeds of the sale of the Miller Drive property. The restricted reserve holds donations and income raised to develop the site at St. Columba and is now to be used for the re-development of the church into a Community space.

Parish Capital Fund

This designated fund contains the proceeds of the negotiations over the sale of the ransom strip within the Zodiac redevelopment as well as the Nigel Dean legacy. The PCC has decided that it is to be spent on future capital projects within the Parish.

Hall Property Reserve

This fund contains the nominal value for both halls.

HT & SC Flower Funds

The Flower Funds relate to the supply of flowers for both Holy Trinity and St. Columba for Sunday services as well as weddings and funerals.

HT Choir Fund

The Holy Trinity Choir Fund holds income received by the Holy Trinity Choir and is primarily used to purchase music & hymn books for the choir

Holy Trinity Parish Hall Fund

The Holy Trinity Parish Hall fund is one of two funds which make up the Holy Trinity Parish Hall Trust. This fund is to pay for the day to day running costs of the hall from letting income. Should a surplus arise, a contribution is made to the Extra-Ordinary Repair Fund.

28

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2023 (continued)

- Holy Trinity Parish Hall Extra Ordinary Fund

The Holy Trinity Parish Hall Extra-Ordinary repair fund is the second of two funds which make up the Holy Trinity Parish Hall Trust. This fund holds the investments which would be used to rebuild or undertake major repair works to the hall. The window frames were repaired and the kitchen refurbished from this fund. The FIT income from the solar panels goes into this fund.

HT Major Projects

The Holy Trinity Tower Fund (also known as High Time) has been renamed and relates to funds left over from the repair works required on the tower and clock at Holy Trinity (High Time Refurbishment Fund).

Messy Church/Little Fishes Fund

This restricted fund is to manage the income and expenditure relating to the Messy Church and Little Fishes children’s groups.

Prices Trust Fund

The Prices Trust Fund is a restricted fund holding the grant income received from The Prices Charitable Trust for the education of under 25s within the Parish of Fareham.

Quest Operating Fund

The Quest Operating Fund holds the remaining balance of funds used for the Quest Youth group. There has been no activity in the fund for several years and is held as a restricted fund for future Youth activities.

Restoration Fund

The Restoration Fund holds restricted donations and the legacy from the late Dennis Stevens (£11,258) meant for the restoration of Holy Trinity Church. This fund is only to be used should a major capital repair project occur.

SC Choir Fund

The St. Columba Choir Fund, similar to the HT Choir Fund, holds income received by the St. Columba Choir for the purpose of mainly purchasing music & hymn books. The choir is not currently operating.

SC Hall Fund

The St. Columba Hall fund is a restricted reserve to cover the day to day running costs of the Hall. During 2023, after the fire, the hall has not been hired out. Hirers moved to the main Church building and the hire fees re-allocated.

HBWB Fund

The Helen Butter Waddell-Boyd (HBWB) Trust is a permanent endowment whereby the capital is to be maintained (HBWB Capital Fund) and the income generated from investing the capital, can then be spent on the upkeep of the office and various expenses for the incumbent of Holy Trinity. This was originally a legacy in 1961 of £68,000 in the form of a Trust administered as a company. The value of £135,000 was transferred to the trusteeship of the PCC in 2005.

29

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2023 (continued)

25 Analysis of assets and liabilities represented by funds

Unrestricted
Funds
£
Fixed assets
500
Investment asserts
39,520
Stock
-
Debtors
7,152
Cash at Bank
1,542
Current liabilities
(15,159)
Total
33,555		 Designated
Funds
£
(500)
537,222
–
695
80,380
(1,476)
616,321		 Restricted
Funds
£
613,264
145,301
-
1,151
145,799
(10,231)
895,284		 Endowment
Funds
£
-
255,467
-
237
31,365
(9)
287,060		 Total
Funds
2023
£
613,264
977,510
-
9,235
259,086
(26,875)
1,832,220

26 Exceptional Items and significant post Balance Sheet events

There were none in 2023

30

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

This page does not form part of the statutory accounts.

General Fund Summary Jan to Dec 2023 General Fund Summary Jan to Dec 2023
Jan-Dec Jan-Dec Jan-Dec
2023 2023 2023 variance 2022 2023 actual 2023
Actual Budget to budget Actual variance to 2022 Annual Budget
£ £ £ £ £ £
EXPENDITURE
PARISH SHARE 101,426 103,486 (2,060) 101,426 0 103,486
ClergyTravel (48) 800 (848) 555 (603) 800
Other ClergyCosts 87 1,000 (913) 716 (628) 1,000
CLERGY COSTS 39 1,800 (1,761) 1,271 (1,231) 1,800
Altar Requisites 415 800 (385) 646 (231) 800
Light,Heat & Insurance 22,686 22,600 86 9,752 12,934 22,600
Sundry 5,126 4,000 1,126 4,904 222 4,000
Organists & Choirs 2,626 2,500 126 1,788 837 2,500
Repairs & Grounds 12,109 12,000 109 9,117 2,992 12,000
CHURCH COSTS 42,962 41,900 1,062 26,207 16,755 41,900
Printing,Postage,& Stationery 2,087 2,500 (413) 2,127 (40) 2,500
Office Telephones 642 700 (58) 648 (6) 700
Office Payroll Costs 14,879 18,700 (3,821) 15,480 (601) 18,700
StewardshipCosts 146 200 (54) 158 (12) 200
Other General Exps 2,225 3,000 (775) 2,797 (572) 3,000
Bank charges,Acc. & Legal fees 1,724 600 1,124 284 1,440 600
GENERAL EXPENSES 21,703 25,700 (3,997) 21,494 208 25,700
Parish Giving 6,517 6,375 142 6,503 14 6,375
TOTAL EXPENDITURE 172,647 179,261 (6,614) 156,901 15,746 179,261
INCOME
Loose Plate 2,800 3,500 (700) 4,584 (1,783) 3,500
Pledge Giving 86,933 85,000 1,933 86,706 226 85,000
Gift Aid received 22,995 16,000 6,995 21,709 1,286 16,000
PCC Fees(weddings & funerals) 3,374 4,000 (626) 4,270 (896) 4,000
Donations 2,943 1,000 1,943 4,088 (1,144) 1,000
Car Park Income 8,882 10,000 (1,119) 12,067 (3,185) 10,000
SundryIncome,Legacies & Grants 17,525 3,000 14,525 17,530 (5) 3,000
Interest & Dividends 1,882 7,000 (5,118) 1,843 38 7,000
TOTAL INCOME 147,333 129,500 17,833 152,797 (5,464) 129,500
Gains(Losses) on investment 3,413 (4,680)
Surplus(Deficit) thisyear (21,901) (49,761) 24,447 (8,784) (21,210) (49,761)
General Fund Balance at 1.1.23 55,456
General Fund Balance at 31.12.23 33,555

31

Charity No.1135129

Annual Report year end 31 December 2023 for Holy Trinity with St. Columba PCC

32

Charity No.1135129