|||||Page||
|---|---|---|---|---|---|
|Report ofthe Trustees|||1|to|6|
|Imlependent
Examiner's|Report|||||
|Statement of Financial|Activities|||||
|Balance Sheet||||||
|Cash Flovv Statement||||10||
|Notes to the Cash Flow|Statement|||||
|Notes to the Financial Statetnents|||12|to|22|
|Detailed Statement ofFinancial||Activities|23|to|24|
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||||||2023|2022|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||funds|funds|funds|funds|
|||Notes|||||
|INCOME AND ENDOWMENTS|FROJVI||||||
|Donations
and legacies|||114,333|6,877|121,210|129,553|
|Charitable
activities|||||||
|Church activities|||10,400||10,400|7,502|
|Investment
income|||51,135||51,135|38,370|
|Total|||175,868|6,877|182,745|175,425|
|EXPENDITLJRE ON|||||||
|C ha rita hie activities|||||||
|Church activities|||177,521|20,784|198,305|194,296|
|Net gains/(losses)
on investments|||2,397||2,397|~3,391)|
|NFT INCOJVIE/(EXPENDITLJRE)
Transfers
between
funds||13|744
~9,643)|(13,907)
9,645|(13,163)|(22,262)|
|Net movement
in funds|||(8,901)|(4,262)|(13,163)|(22,262)|
|RECONCII IATION OF FUNDS|||||||
|'1'otal funds brought
forward|||920,270|10,044|930,314|952,576|
|TOTAI. FlJNDS CARRIED FORWARD|||911,369|5,782|917,151|930,314|
##
||||||2023|2022|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||funds|funds|funds|funds|
|||Notes|||||
|FIXEDASSETS|||||||
|Tangible
assets||11|465,155||465,155|465,870|
|Investments||12|28,137||28,137|25,740|
||||493,292||493,292|491,610|
|CURRENT ASSETS|||||||
|Debtors||13|23,985|518|24,503|24,363|
|Cash at bank and in hand|||403,239|5,264|408,503|423,877|
||||427,224|5,782|433,006|448,240|
|CREDITORS|||||||
|Amounts
falling due within|one year|I4|(9,147)||(9,147)|(9,536)|
|NET CURRENT ASSFTS|||418,077|5,782|423,859|438,704|
|TOTAL ASSETSLFSSCURRENT|||||||
|LIABILITI F.S|||911,369|5,782|917,151|930,314|
|NET ASSFTS|||911,369|5,782|917 151|930314|
|FUNDS|||||||
|General
fund|||||638,845|634,269|
|Balding
fund|||||272,524|286,001|
|Unrestricted
funds|||||911,369|920,270|
|Restrictecl funds|||||5,782|10,044|
|TOTAL FUNDS|||||917,151|930,314|
##
||||||2023|2022|
|---|---|---|---|---|---|---|
|||||Notes|||
|Cash flows from operating|activities||||||
|Cash generated
from operations|||||~66,509|~69,2tl9|
|Net cash used
in operating|activities||||~66,509)|~69,209)|
|Cash flows frotn investing|activities||||||
|Interest received|||||15,673|3,595|
|Property
rental income|||||35,462|34,775|
|Net cash provided
by investing||activities|||51,135|38,370|
|Change
in cash and cash|equivalents||in||||
|the reporting
period|||||(15,374)|(30,839)|
|Cash and cash equivalents|at|the|||||
|beginning
ofthe reporting|period||||423,877|454,716|
|Cash and cash equivalents|at|the end|of||||
|the reporting
period|||||408,503|423,877|
##
|RECONCILIATION
OF NET E
ACTIVITIES|XPENDITURE TO NET CASH FLOW|FROID OPERATIN|G|
|---|---|---|---|
|||2023|2022|
|Net expenditure
for the reporting|period (as per the Statement of|||
|Financial
Activities)||(13,163)|(22,262)|
|Adjustments
for:||||
|Depreciation
charges||715|894|
|(Gain)/losses
on investments||(2,397)|3,391|
|Interest received||(15,673)|(3,595)|
|Property
rental income||(35,462)|(34,775)|
|Decrease/(increase)
in debtors
Decrease
in creditors||(140)
~389)|(2,233)
~)0,629)|
|Net cash used in operations||~66,509)|~69,209)|
##
|ANALYSIS OF CHANGES
IN NET FIJND|S|||
|---|---|---|---|
||At 1.1.23|Cash flow|At 31.12.23|
|Net cash||||
|Cash at bank and in hand|423,877|~15,374)|408,503|
||423,877|~15376)|408,503|
|'I'otal|423,877|~)5,37'I)|408,503|
##
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##
|DONATIONS|AN D|LEG|ACIES|||
|---|---|---|---|---|---|
|||||2023|2022|
|Collections
at|all services|||7,842|5,0S6|
|Standing
order|donations|||67,343|63,170|
|Income tax recoverable||||18,643|20,210|
|Grants||||410||
|Donations
—St|Pancras|International||2,840|6,020|
|Sundry
donations
and||other income||18,503|17,025|
|Other planned|giving|||2,520|3,340|
|Youth work||||3,109|14,732|
|||||121,210|129,553|
|Grants received,
included|||in the above, are as I'ollows:|||
|||||2023|2022|
|Chichester
welfare
Trust||||410||
|INYESTNIENT
INCONI|||V.|||
|||||2023|2022|
|I I'opel'ty
rental|lllcolne|||35,462|34,775|
|UK dividends|and interest|||15,673|3,59S|
|||||51,135|38,370|
|4.|INCOME FROIVI CHARITABLE ACTIVI1'IES|INCOME FROIVI CHARITABLE ACTIVI1'IES|INCOME FROIVI CHARITABLE ACTIVI1'IES|||||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
|||Activity||||||
||Church
hall lettings|Church|activities|||10,400|7,502|
|5.|CHARITABI, F.ACTIVITIES COS1'S|||||||
||||||Grant|||
||||||funding of|||
|||||Direct|activities|Support||
|||||Costs (see|(see note|costs (see||
|||||note 6)|7)|note 8)|Totals|
||Church
activities|||139,200|17,345|41,760|198,305|
|6.|DIRECT COS1'S OF CHARITABLE||AC'I'IVll|IES||||
|||||||2023|2022|
||Staff costs|||||40,720|34,570|
||Activities|||||13,149|8,958|
||Parish contributions|||||74,856|73,200|
||Rector's and others evpenses|||||10,475|12,406|
|||||||139,200|129,134|
|7.|GRANTS PAYABLE|||||||
|||||||2023|2022|
||Church
activities|||||17,345|19,461|
##
|Grants payable|Grants payable|Grants payable|from the St Pancras International|from the St Pancras International|from the St Pancras International|from the St Pancras International|restricted|fund included|in the above:||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2023|2022|
|Anglican|International|||Development||||||1,065|
|Children|on|the Edge||||||||1,070|
|CMJ|||||||||180|240|
|Crosslinks|-|Nekemte||School|||||640|540|
|Interserve|||||||||90|120|
|J Rowe|||||||||750|1,850|
|Crossing|to|conquer||—Nairobi|||||2,250|7,271|
|Ukraine|||||||||2,000||
|Link to Hope||||||||||21|
|SGP - N|Aspden||||||||225||
|N Cyprus|||||||||250||
|Open Doors|||||||||50||
|R Vaierio|||||||||250||
|Rev Ugwu|||||||||1,050||
|Translation||Trust|||||||7,520|4,520|
|Tearfund|for Turkey|||earthquake|||||1, 1 I 5||
|Rev Nwoke|||||||||300||
|Ukraine
refugees||||||||||884|
|University|ofChichester||||Christian|Union||||200|
||||||||||16,670|17,781|
##
||||||||||Govcl'nance||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||M&anagcnlcnt|I inance|costs|Totals|
|Church|activities||||||39,300|120|2,340|41,760|
|Support|costs,|included||in the above,|&are|&Bs|follows:||||
||||||||||2023|2022|
||||||||||Church|Total|
||||||||||activities|activities|
|Legal and professional||||fees|||||3, 104||
|Upkeep|- Services||||||||1,626|S83|
|Upkeep|- Swanfleld||Drive||||||1,536|1,036|
|Repairs|- Buildings||||||||S,438|2,830|
|Maintenance||- Church|||||||4,056|3.S75|
|Ivl&ainten&ance||- Hall|||||||6,028|4,662|
|IVlaintcnance||- I/2|St Pancras||||||3,320|2,595|
|Depreciation||oftangible||and heritage|assets||||715|89-1|
|Bank charges|||||||||120|120|
|C Bl'I'Icd|for&&v;u'cl||||||||25&9-13|16,795|
##
|||||2023|2022|
|---|---|---|---|---|---|
|||||Church|Total|
|||||activities|activities|
|Brought forward||||25,943|16,295|
|Independent|examination|fees||2,340|2,160|
|Professional|fees relating|to redevelopment|cost|13,477|27,246|
|||||41,760|45,701|
##
##
##
||||2023|2022|
|---|---|---|---|---|
|YVages|and salaries||39,508|34,031|
|Social|security|costs|711||
|Other|pension|costs|501|539|
||||40,720|34,570|
|The aver|age
monthly|number ofemployees
during
the ye|ar was as follows:||
|---|---|---|---|---|
||||2023|2022|
|Number|ofCharitable|Staff|2|2|
##
|TANGIBLE FIXEDASSET|S|||||
|---|---|---|---|---|---|
||||improvements|||
||Freehold|Long|to|Furniture||
||property|leasehold|property|& equipment|Totals|
|COST||||||
|At 1st January
2023 and||||||
|31stDecember 2023|38,930|350,000|126,755|40,038|555,723|
|DEPRECIATION||||||
|At 1st January
2023
Charge for year|||53,390|36,463
715|89,853
715|
|At 31st December 2023|||53,390|37,178|90,568|
|NET BOOK VALUE||||||
|At 31st December 2023|38,930|350,000|73,365|2,860|465,155|
|At 31st December 2022|38,930|350,000|73,365|3,575|465,870|
##
||||Listed|
|---|---|---|---|
||||investments|
|iVIARKF. 1' VALUE||||
|At 1st January 2023|||25,740|
|Revaluations|||2,397|
|At 31stDecember 2023|||28,137|
|NF.'I' BOOK VALUE||||
|At 31st December 2023|||28,137|
|At 31st December 2022|||25,740|
|There were no investment|assets outside|the UK.||
##
##
|13.|DFBTORS:|AIVIOIIN|TS FALLING DEIE %VI I'HIN ONE YEAR|||
|---|---|---|---|---|---|
|||||2023|2022|
||Trade debtors|||2,099|555|
||Other debtors|||878|760|
||Income tax recoverable|||18,968|18,609|
||Prepayments|and accrued income||2,558|4,439|
|||||24,503|24,363|
|14.|CREDI1'ORS: AKIOIINTS FAI,LING DI.IEQ'ITIIIN ONE YFAR|||||
|||||2023|2022|
||Other creditors|||6,747|6,146|
||Accruals
and|def'erred|incolne|2,400|3,390|
|||||9,147|9,536|
##
|IV1OVEMENT IN FUN|DS||||||
|---|---|---|---|---|---|---|
|||||Net|Transfers||
|||||movement|between|At|
||||At 1.1.23|in funds|funds|31.12.23|
|Unrestricted
funds|||||||
|General
fund|||634,269|14,221|(9,645)|638,845|
|The Balding Redevelopment||Fund|286,001|~13,477)||272,524|
||||920,270|744|(9,645)|911,369|
|Restricted funds|||||||
|St Pancras International|||8,648|(13,312)|9,645|4,981|
|Emergency
Fund|||1,396|(605)||791|
|Youth Work||||10||10|
||||10,044|~13,907)|9,645|5,782|
|TOTAL FUNDS|||930,314|~13,183)||917,151|
|Net movement
in funds,|included||in the above are as follows:||||
||||Inconll n17|Resources|Gains and|Wlovement|
||||resources|expended|losses|in funds|
|Unrestricted
funds|||||||
|General
fund|||175,868|(164,044)|2,397|14,221|
|The Balding Redevelopment||l=und||@13,477)||~13,477)|
||||175,868|(177,521)|2,397||
|Restricted
funds|||||||
|St Pancras International|||34358|(16,670)||(13,312)|
|Emergency
Fund||||(605)||(605)|
|Youth Work
Chichester
Welf'are Trust|||3,109
410|(3,099)
~410)||10|
||||6,877|~20,784)||~)3,907)|
|TOTAL FUNDS|||187,745|))98,303)|2,397|~13,163)|
##
|Comparative|s
for movemen|t
in funds|||||
|---|---|---|---|---|---|---|
|||||Net|Transfers||
|||||movement|between|At|
||||At 1.1.22|in funds|funds|31.12.22|
|unrestricted|funds||||||
|General
fund|||627,656|30,596|(23,983)|634,269|
|The Balding|Redevelopment|Fund|313,037|~27,036)||286,001|
||||940,693|3,560|(23,983)|920,270|
|Restricted
funds|||||||
|St Pancras International|||10,387|(II,159)|9,420|8,648|
|Emergency|Fund||1,496|(100)||1,396|
|Youth
YVork||||~14,563)|14,563||
||||11,883|~2S,822)|23,983|10,044|
|TOTAL F(JNDS|||952,576|~22,262)||930,314|
|||||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|---|---|
|||||resources|expended|losses|in funds|
|lJnrestricted||funds||||||
|General
fund||||153,842|(119,855)|(3,391)|30,596|
|The Balding||Redevelopment|Fund|210|f27,24G)||~27,036)|
|||||154,052|(147,101)|(3,391)|3,560|
|Restricted|funds|||||||
|St Pancras International||||6),621|(17,780)||(11,159)|
|Emergency||Fund||20|(I20)||(100)|
|Youth
KVork||||14,732|~29,295)||~14,563)|
|||||21,373|~47,195)||~25,822)|
|TOTA L F(||I NDS||175,425|(194,296)|~3,391)|f22,262)|
##
|||||Net|Transfers||
|---|---|---|---|---|---|---|
|||||movement|between|At|
||||At 1.1.22|in funds|funds|31.12.23|
|Unrestricted|funds||||||
|General
fund|||627,656|44,817|(33,628)|638,845|
|The Balding|Redevelopment|Fund|313,037|~40,513)||272,524|
||||940,693|4,304|(33,628)|911,369|
|Restricted|funds||||||
|St Pancras
International|||10,387|(24,471)|19,065|4,981|
|Emergency|Fund||1,496|(705)||791|
|Youth
VVork||||~I4,553)|14,563|10|
||||11,883|~39,729)|33,628|5,782|
|1'01AL FUNDS|||952,576|~35,425)||917,151|
|||lncollliltg|Resources|Gains and|Movement|
|---|---|---|---|---|---|
|||resources|expended|losses|ln funds|
|Unrestricted
funds||||||
|General
fund||329,710|(283,899)|(994)|44,817|
|The Balding Redevelopment|Fund|210|~40,723 )||~40,513)|
|||329,920|(324,622)|(994)|4,304|
|Restricted
funds||||||
|St Panel'as
International||94979|(34,450)||(24,471)|
|Emergency
Fund||20|(725)||(705)|
|Youth
9Vork
Chichester
3Vellare Trust||17,841
410|(32,394)
~410)||(14,553)|
|||28,250|~67,979)||~39,729)|
|TOTAL FUNDS||358,170|I)92,601)|~994)|~35,425)|
##
##
##
##
##
||||2023|2022|
|---|---|---|---|---|
|INCOIVIE AND ENDOWMENTS|||||
|Donations and legacies|||||
|Collections
at all services|||7,842|5,056|
|Standing
order donations|||67,343|63,170|
|Income tax recoverable|||18,643|20,210|
|Grants|||410||
|Donations
—St Pancras|International||2,840|6,020|
|Sundry donations
and|other income||18,503|17,025|
|Other planned
giving|||2,520|3,340|
|Youth work|||3, 109|14,732|
||||121,210|129,5S3|
|Investment
income|||||
|Property
rental income|||35,462|34,775|
|VK dividends
and interest|||15,673|3,595|
||||51,135|38,370|
|Charitable
activities|||||
|Church
hall lettings|||10,400|7,502|
|Total incoming
resources|||182,745|175,425|
|EXPEN DITIIRE|||||
|Charitable
activities|||||
|'lVages|||39,508|34,031|
|Social security|||711||
|Pensions|||501|539|
|Activities|||13,149|8,958|
|Parish contributions|||74,856|73,200|
|Rector's and others expenses|||10,475|12,406|
|Grants to institutions|||17,345|19,461|
||||IS6,54S|148,S9S|
|Suppolt costs|||||
|Klanagement|||||
|Legal and professional||fees|3, 104||
|Upkeep
- Sen ices|||1,626|583|
|Upkeep
- Swanfield|Drive||1,536|1,036|
|Repairs - Buildings|||5,438|2,830|
|IVIaintenance
—Chiuich|||4,0S6|3,S7S|
|Carried
forward|||15,760|8,024|
##
##
||||||2023|2022|
|---|---|---|---|---|---|---|
|Management|||||||
|Brought forward|||||15,760|8,024|
|Maintenance||- Hall|||6,028|4,662|
|Maintenance||- I/2 St Pancras|||3,320|2,595|
|Depreciation||offurniture|&equipment||715|894|
||||||25,823|16,175|
|Finance|||||||
|Bank charges|||||120|120|
|Governance||costs|||||
|Independent||examination|fees||2,340|2,160|
|Total resources||expended|on ordinary|activities|184,828|167,050|
|Professional|fees relating||to redevelop|ment cost|13,477|27,246|
|Total resources
expended|||||198,305|194,296|
|Net income/(expenditur|||e)||~15,560)|J18,871)|