# **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF DORCHESTER AND WEST STAFFORD**
**REGISTERED CHARITY NO 1138023**
# **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
The Team Ministry of Dorchester and the Winterbournes
## **PAROCHIAL CHURCH COUNCIL OF DORCHESTER AND WEST STAFFORD**
## **CONTENTS**
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Page
Members' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 14
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**PAROCHIAL CHURCH COUNCIL OF DORCHESTER AND WEST STAFFORD**
## **MEMBERS' REPORT** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **ADMINISTRATIVE INFORMATION**
The Ecclesiastical Parish of Dorchester and West Stafford is part of the Benefice of Dorchester and the Winterbournes in the Diocese of Salisbury within the Church of England. Its correspondence address is: The Parish Office, 20 Alexandra Road, Dorchester, DT1 2LZ.
The Parochial Church Council of the Ecclesiastical Parish of Dorchester and West Stafford (Dorchester and West Stafford PCC) is a body corporate under the PCC Powers Measure 1956 and Church Representation Rules 2006; and a registered charity, number 1138023.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the Church Accounting Regulations 2006, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.
The PCC has considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion.
The PCC members who have served from 1 January 2022 until the date this report was approved are:-
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||||
|---|---|---|
|Ex Officio - Beneficed and Licensed Clergy|
|Team Rector|Revd Keith Magee|
|Team Vicars|Revd Cora Yarrien|
|Revd Jimmy Holden|
|Team Curate|Revd Heidi Merrett|From June 2022|
|Ex Officio - Churchwardens|Helen Lange|
|Val Potter|
|Ellie Stephens|Until May 2022|
|Trudy Tabone|Until May 2022|
|Caroline Taylor|
|Ex Officio - Members of the Diocesan Synod|Canon John Wood|Dorset Clergy Retirement Officer|
|David Elliott|
|Jill Minchin|PCC Vice Chair|
|Margaret Morrissey|
|Ex Officio - Members of the Deanery Synod|Sue Allen|Until Sept 2022|
|Lauretta Kerridge|
|Caroline McMeiken|
|Janet Ranger-Dennis|
|Cheryl Taylor|
|Elected members|Sara Adams|
|Hilary Attwell|
|Tim Dennis|
|Jonathan Farmiloe|
|Cynthia Fry|
|Ann Heath|From May 2022|
|Brian Hellin|
|Dorothy Maggs|
|Robert Potter|
|Jane Pryce|
|In attendance|Janet Cooper|Secretary|
|Beryl Shuttleworth|Treasurer|
|Peter Vojak|Assistant treasurer|
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**PAROCHIAL CHURCH COUNCIL OF DORCHESTER AND WEST STAFFORD**
**MEMBERS' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
The method of appointment of PCC members is set out in the Church Representation Rules. All congregations at the four churches are encouraged to register on the Electoral Roll, that totals 368, and to stand for election to the PCC.
## **EXAMINATION AND BANKING**
Edwards and Keeping, Chartered Accountants, 34 High East Street, Dorchester are the examiners and Lloyds Bank plc, 1 High West Street, Dorchester, are the PCC’s bankers.
## **OBJECTIVES AND ACTIVITIES**
The PCC has the responsibility of co-operating with the clergy in promoting the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical.
There are four churches in the parish, each with its own church committee: St George’s Church, Fordington Green; St Mary’s Church, Edward Road; Holy Trinity, St Peter and All Saints (commonly known as St Peter’s), High West Street; and St Andrew’s, West Stafford.
The PCC 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 and scripture, music and sacrament.
The PCC has considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion.
The PCC complied with its duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 by having due regard to the House of Bishops’ guidance on safeguarding children and vulnerable adults within the parish. Safeguarding is an item on every PCC agenda, giving opportunities for the Safeguarding Group to report on a regular basis. We are also fully compliant by showing the relevant link on the front page of the website.
The PCC met four times during the year. At each meeting there were reports, and opportunities for questions, from each of the four churches with reports from other groups being received in rotation.
The Clergy Team continue to grow and settle in to their different ministries and are grateful that they at last feel that they are in the post-COVID era. Revd Keith Magee is Team Rector with responsibility for St Peter's. Revd Cora Yarrien has responsibility for St George's and St Andrew's. Revd Jimmy Holden is half-time Team Vicar at St Mary's as well as being a Chaplain at Dorset County Hospital.
The team was further enhanced in June when Revd Heidi Merrett was ordained deacon. With Keith as her Training Incumbent, Heidi will be mostly based at St Peter's, although she will also be gaining valuable experience from the variety of opportunities from ministry across the rest of the team.
The retired clergy of our benefice continue to support and encourage the churches through their willingness to share in ministry and in the care of our worshipping communities. We are very grateful for their willingness to serve and express our heartfelt thanks to them.
Overall, the last year has been one of rediscovering our way and finding out what the new 'normal' is, so that we can continue to share the abundance of God's love and blessings within our church families and in the wider communities in which we find ourselves. Our prayer is that we would each know the leading of the Holy Spirit and be equipped to follow, looking to our Lord Jesus Christ as our example and inspiration.
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**PAROCHIAL CHURCH COUNCIL OF DORCHESTER AND WEST STAFFORD**
**MEMBERS' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **FINANCIAL REVIEW AND RESERVES**
Global events have, again, had a significant impact on the finances of our churches. As they were beginning to return to pre-Covid levels of activity the energy crisis, and its affect on the stock market, have made budgeting extremely challenging.
There was a significant decrease in the value of investments with endowment funds falling by just over £46,000. The subsequent reduction in interest and dividends will undoubtedly, cause problems at a time of rising costs.
With a return to full services, fundraising activities and greater use of church halls there was an overall increase in unrestricted income but this has to be offset by unprecedented levels of spending, particularly on fuel. These funds did, though, manage to show a small net increase.
It is encouraging that all the churches have paid their diocesan share in full. There is good mutual co-operation between the treasurers who are able to support one another and share good practice.
The PCC's policy is to invest the major part of its endowment funds in CBF Church of England Investment Fund Income Shares to achieve a level of growth that at least outpaces inflation over the long term, with a modest level of income. The remainder of the PCC's funds are in CBF Church of England deposits and bank accounts.
## **THE PCC AND THE CHURCH COUNCILS**
The Parochial Church Council of the Ecclesiastical Parish of Dorchester and West Stafford (Dorchester and West Stafford PCC) is a body corporate under the PCC Powers Measure 1956 and Church Representation Rules 2006 and a registered charity number 1138023.
In so far as the law allows, the authority for the day-to-day work, management and outreach is delegated to the Church Committees of each of the four Parish Churches. They are responsible for the exercise of that authority, in co-operation with the Team Rector and clergy team, in the maintenance of their buildings, care of the congregations, and development of worship and outreach. The PCC retains ultimate responsibility and its members are encouraged to undertake training through conferences and study days, the better to discharge their roles.
Approved by the PCC at its meeting on 22 March 2023
and signed on its behalf by:
**Keith Magee, Team Rector**
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**PAROCHIAL CHURCH COUNCIL OF DORCHESTER AND WEST STAFFORD**
## **INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF THE PCC**
I report to the members on my examination of the accounts of the Parochial Church Council of the Ecclesiastical Parish of Dorchester and West Stafford for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the PCC’s members and also the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the PCC's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since the PCC’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no other matters have come to my attention that giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the PCC as required by section 130 of the Act; or
2. the accounts do not accord with those records.
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## **24 March 2023**
**Edwards and Keeping Chartered Accountants**
Unity Chambers 34 High East Street Dorchester Dorset DT1 1HA
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**PAROCHIAL CHURCH COUNCIL OF DORCHESTER AND WEST STAFFORD**
## **STATEMENT OF FINANCIAL ACTIVITIES** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
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Unrestricted Restricted Endowment Total funds Total funds
funds funds funds 2022 2021
Note £ £ £ £ £
Income
Donations and gifts 3(a) 265,359 160 - 265,519 265,494
Church activities 3(b) 37,905 540 - 38,445 23,009
Fundraising income 3(c) 8,660 - - 8,660 2,792
Investment income 3(d) 3,984 9,556 - 13,540 10,394
Other income 3(e) 997 - - 997 723
Total income 316,905 10,256 - 327,161 302,412
Expenditure
Church activities 4(a) 308,965 615 - 309,580 280,238
Costs of raising funds 4(b) 2,058 - - 2,058 -
Other expenditure 4(c) 2,590 - - 2,590 2,568
Total expenditure 313,613 615 - 314,228 282,806
Net income before gains and
losses on investments 3,292 9,641 - 12,933 19,606
Gains on revaluation of
investment assets 5 - - (46,464) (46,464) 49,045
Net income 3,292 9,641 (46,464) (33,531) 68,651
Transfers between funds - - -
Net movement in funds 3,292 9,641 (46,464) (33,531) 68,651
Funds brought forward 641,167 64,836 397,084 1,103,087 1,034,436
Funds carried forward 8 644,459 74,477 350,620 1,069,556 1,103,087
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**PAROCHIAL CHURCH COUNCIL OF DORCHESTER AND WEST STAFFORD**
## **BALANCE SHEET** _**AS AT 31 DECEMBER 2022**_
|**Note**
**Fixed assets**
Investments
5
**Current assets**
Debtors
6
CBF Deposit Fund
Cash at bank and in hand
**Liabilities**
7
**Net current assets**
**Net assets**
**Funds**
Unrestricted income funds
Restricted income funds
Endowment funds
Expendable
Permanent
**Total funds**
8
Creditors falling due
within|**Unrestricted**
**funds**
**£**
-
14,366
219,478
413,546
647,390
(2,931)
644,459
644,459
644,459
-
-
-
644,459|**Restricted**
**funds**
**£**
-
-
72,320
2,157
74,477
-
74,477
74,477
-
74,477
-
-
74,477|**Endowment**
**funds**
**£**
348,020
-
2,600
-
2,600
-
2,600
350,620
-
-
158,266
192,354
350,620|**Total funds**
**2022**
**£**
348,020
14,366
294,398
415,703
724,467
(2,931)
721,536
1,069,556
644,459
74,477
158,266
192,354
1,069,556|**Total funds**
**2021**
**£**
394,484
9,905
287,208
416,980
714,093
(5,490)
708,603
1,103,087
641,167
64,836
179,383
217,701
1,103,087|
|---|---|---|---|---|---|
Approved by the PCC at its meeting on 22 March 2023
and signed on its behalf by:
## **Keith Magee, Team Rector**
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**PAROCHIAL CHURCH COUNCIL OF DORCHESTER AND WEST STAFFORD**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **1 Accounting policies**
## **(a) Basis of preparation**
The PCC constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with the Church Accounting Regulations 2006, the Charities Act 2011, Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
The financial statements have been prepared to give a true and fair view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements have been prepared on a going concern basis under the historical cost convention modified to include investment assets at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £. 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.
## **(b) Funds**
_**Unrestricted funds**_ are general funds which can be used for PCC ordinary purposes. Unrestricted funds may include designated funds representing amounts set aside by the PCC for particular purposes.
_**Restricted funds**_ represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and (b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the year end must be carried forward as a balance on that fund.
_**Permanent endowment funds**_ are funds, the capital of which must be maintained; only income arising from investment of the endowment may be used either as restricted or unrestricted funds depending on the purpose for which the endowment was established.
_**Expendable endowment funds**_ are funds the capital and income of which may both be used.
## **(c) Income**
All income is recognised once the charity has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.
Planned giving, collections and donations are recognised when received and any income tax recoverable on gift aid donations is recognised when a claim is submitted to H M Revenue and Customs. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement and the amount due. Dividends are accounted for when receivable, interest is accrued. All income is accounted for gross.
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**PAROCHIAL CHURCH COUNCIL OF DORCHESTER AND WEST STAFFORD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **(d) Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is accounted for on the accruals basis and gross of irrecoverable VAT.
Church activity costs form the majority of the PCC resources used including charitable giving, clergy and service expenses, running and maintaining church property, church admin and magazine costs. Fundraising activity costs are shown separately from income. Other expenditure represents amounts paid for the compilation and independent examination of the statutory accounts.
The diocesan parish share is accounted for when payable. Any ‘share’ unpaid at 31 December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the balance sheet.
## **(e) Investments**
Investments are valued at mid market value at 31 December and the unrealised gain or loss on revaluation is shown in the statement of financial activities. Realised gains or losses on the disposal of investments are recognised in the statement of financial activities when investments are sold.
## **2 Staff costs, transactions with PCC members and independent examination**
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||||
|---|---|---|
|2022|2021|
|£|£|
|Wages and salaries|24,532|18,448|
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During the year the Parish employed an administrator, St Andrew's an organist, St George's a verger and an organist, St Mary's an organist and a verger and St Peter's an organist. None of the above was paid at the rate of £60,000 pa or more.
Apart from payments of £8,772 (2021: £3,448) to members of the clergy in performance of their duties noted below, no other payments or expenses were paid to any other PCC member, persons connected with them or related parties.
The independent examiner’s fees comprised an examination fee of £900 (2021: £900) and statutory accounts compilation work of £1,690 (2021: £1,668).
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**PAROCHIAL CHURCH COUNCIL OF DORCHESTER AND WEST STAFFORD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
|**3**
**Income**
Planned giving:
Gift aid and non gift aid
Income tax recoverable on gift aid
Gift days
Sundry donations
Grants
Legacies
**(a)**
Collections (open plate) at all services
**Donations and gifts**|**Unrestricted**
**funds**
**£**
138,598
23,283
19,265
7,850
19,028
47,335
10,000
265,359|**Restricted**
**Endowment**
**Total funds**
**Total funds**
**funds**
**funds**
**2022**
**2021**
**£**
**£**
**£**
**£**
138,598
138,283
23,283
31,172
19,265
13,379
7,850
11,135
160
19,188
18,047
47,335
41,914
10,000
11,564
160
-
265,519
265,494|
|---|---|---|
In 2021 income from donations and gifts totalled £265,494, of which £265,354 was attributable to unrestricted funds and £140 was attributable to restricted funds.
## **(b) Church activities**
|Magazines
Church hall letting
Fees
Office services|3,417
19,537
14,096
855
37,905|540
540|-|3,417
19,537
14,636
855
38,445|1,804
9,071
11,894
240
23,009|
|---|---|---|---|---|---|
In 2021 income from church activities totalled £23,009 of which £22,649 was attributable to unrestricted funds and £360 was attributable to restricted funds.
## **(c) Fundraising income**
Fetes, bazaars and other fundraising activities 8,660 - - 8,660 2,792
In 2021 income from fundraising totalled £2,792, all of which was attributable to unrestricted funds.
## **(d) Investment income**
UK dividends and interest receivable 3,984 9,556 - 13,540 10,394
In 2021 investment income totalled £10,394 of which £1,988 was attributable to unrestricted funds and £8,406 was attributable to restricted funds.
## **(e) Other income**
|VAT refund/insurance claims etc
**Total income**
In 2021 other income totalled £723 and|997
-
-
316,905
10,256
-
was attributable to unrestricted funds.|997
327,161|723
302,412|
|---|---|---|---|
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**PAROCHIAL CHURCH COUNCIL OF DORCHESTER AND WEST STAFFORD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
|**4**
**Expenditure**
Missionary and charitable giving
'Share'
Clergy expenses
Insurance
Church running expenses
Church maintenance
Youth and education
Upkeep of services
Major repairs and improvements
Church hall running costs
Salaries and honoraria
Parish magazine
Church administration
Other
**(a)**
**Church activities**|**Unrestricted**
**funds**
**£**
7,593
163,855
8,772
20,709
16,624
17,381
1,495
9,800
8,011
4,055
23,992
7,703
18,975
-
308,965|**Restricted**
**Endowment**
**Total funds**
**Total funds**
**funds**
**funds**
**2022**
**2021**
**£**
**£**
**£**
**£**
7,593
5,906
163,855
156,205
8,772
3,448
20,709
19,929
16,624
6,807
17,381
17,832
1,495
-
9,800
8,825
8,011
9,239
4,055
8,572
540
24,532
18,448
7,703
2,922
75
19,050
14,922
-
-
7,183
615
-
309,580
280,238|
|---|---|---|
In 2021 expenditure on church activities totalled £280,238 of which £272,632 was attributable to unrestricted funds and £7,606 was attributable to restricted funds.
## **(b) Costs of raising funds**
Fetes, bazaars and other - fundraising activities 2,058 2,058 In 2021 expenditure on fundraising totalled £Nil. **(c) Other expenditure** Independent examiner's fees 2,590 2,590 2,568
## **(c) Other expenditure**
In 2021 other expenditure totalled £2,568, all of which was attributable to unrestricted funds.
**Total expenditure** 313,613 615 - 314,228 282,806
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**PAROCHIAL CHURCH COUNCIL OF DORCHESTER AND WEST STAFFORD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **5 Investments**
|At 1 January 2022
Additions
Unrealised gains on revaluation
At 31 December 2022
Represented by:
**No**
CBF Investment Fund income units
St George's - Timothy Bequest
6,396.00
St George's - Puzey Bequest
7,660.00
St George's - Jack Bradshaw
417.30
St Mary's - Megisson Bequest
704.53
St Mary's - Wynne Bequest
961.39
St Mary's - Quibbell Bequest
318.00
St Mary's -Trustee Account
317.53
CBF Fixed Interest Securities Fund
St George's - Timothy Bequest
482.00
St Mary's - Quibbell Bequest
561.00|**2022**
**£**
394,484
-
(46,464)
348,020
**£**
132,150
158,266
8,622
14,557
19,864
6,570
6,561
661
769
348,020|**2021**
**£**
345,439
49,045
394,484
**£**
149,782
179,383
9,772
16,499
22,514
7,447
7,436
763
888
394,484|
|---|---|---|
## **6 Debtors**
**2022 2021 £ £** Other debtors 14,366 9,905
## **7 Creditors**
|Accruals
Other creditors|**2022**
**£**
2,931
2,931|**2021**
**£**
5,021
469
5,490|
|---|---|---|
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## **PAROCHIAL CHURCH COUNCIL OF DORCHESTER AND WEST STAFFORD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
|**8**
**Funds**
**Unrestricted funds**
St Andrew's general fund
St George's general fund
St Mary's general fund
St Peter's general fund
St Peter's music fund
PCC general fund
**_Total unrestricted funds_**
**Restricted funds**
St George's bellringers fund
St George's Timothy bequest
**_Total restricted funds_**
**Endowment funds**
**_Expendable_**
St George's Puzey legacy fund
St George's Jack Bradshaw fund
St George's Timothy bequest
St Mary's Quibell, Megisson and
St Mary's Trustee Account
St Peter's Holy Trinity Institute fund
**_Total endowment funds_**
**Total funds**
St Peter's Development account
Wynne bequest funds
(capital) fund
St George's Puzey legacy fund
**_Permanent (where the_**
**_capital cannot be spent)_**
(income) fund|**At 1**
**January**
**2022**
**£**
26,491
167,179
156,853
111,868
5,371
155,624
17,781
641,167
2,072
43,997
18,767
64,836
179,383
9,772
150,545
47,348
7,436
2,600
217,701
397,084
1,103,087|**Income**
**£**
17,728
65,767
103,121
118,271
-
-
12,018
316,905
700
5,326
4,230
10,256
-
-
-
-
-
-
-
-
327,161|**Expenditure Fund transfers/**
**investment**
**gains**
**£**
**£**
(19,680)
(1,650)
(58,741)
(10,450)
(70,636)
(10,450)
(114,339)
(9,664)
-
(1,494)
-
708
(50,217)
33,000
(313,613)
-
(615)
-
-
-
-
-
(615)
-
-
(21,117)
-
(1,150)
-
(17,734)
-
(5,588)
-
(875)
-
-
-
(25,347)
-
(46,464)
(314,228)
(46,464)|**At 31**
**December**
**2022**
**£**
22,889
163,755
178,888
106,136
3,877
156,332
12,582
644,459
2,157
49,323
-
22,997
74,477
158,266
8,622
132,811
41,760
6,561
2,600
192,354
350,620
1,069,556|
|---|---|---|---|---|
Sufficient resources are held to enable each fund to be applied in accordance with any restrictions.
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**PAROCHIAL CHURCH COUNCIL OF DORCHESTER AND WEST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
**----- Start of picture text -----**
9 Funds
At 1 Income Expenditure Fund transfers/ At 31
January investment December
2021 gains 2021
£ £ £ £ £
Unrestricted funds
St Andrew's general fund 28,340 14,611 (14,810) (1,650) 26,491
St George's general fund 180,073 57,912 (60,356) (10,450) 167,179
St Mary's general fund 159,860 69,773 (62,330) (10,450) 156,853
St Peter's general fund 116,925 107,751 (102,358) (10,450) 111,868
St Peter's music fund 5,371 - - - 5,371
St Peter's Development account 122,252 33,372 - - 155,624
PCC general fund 10,040 10,087 (35,346) 33,000 17,781
Total unrestricted funds 622,861 293,506 (275,200) - 641,167
Restricted funds
St George's bellringers fund 1,994 500 (422) - 2,072
St George's Puzey legacy fund 41,979 4,574 (2,556) - 43,997
St George's Timothy bequest -
(income) fund 19,563 3,832 (4,628) - 18,767
Total restricted funds 63,536 8,906 (7,606) - 64,836
Endowment funds
Expendable
St George's Puzey legacy fund 156,933 - - 22,450 179,383
Permanent (where the
capital cannot be spent)
St George's Jack Bradshaw fund 8,549 - - 1,223 9,772
St George's Timothy bequest
(capital) fund 131,855 - - 18,690 150,545
St Mary's Quibell, Megisson and
Wynne bequest funds 41,597 - - 5,751 47,348
St Mary's Trustee Account 6,505 - - 931 7,436
St Peter's Holy Trinity Institute fund 2,600 - - - 2,600
191,106 - - 26,595 217,701
Total endowment funds 348,039 302,412 (282,806) 49,045 397,084
Total funds 1,034,436 604,824 (565,612) 49,045 1,103,087
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**PAROCHIAL CHURCH COUNCIL OF DORCHESTER AND WEST STAFFORD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **Unrestricted funds**
The St Peter's designated choral scholars fund respresents sums earmarked by the council for choral scholars and St Peter's development fund represents funds earmarked for the development of the church.
All other unrestricted funds, whilst allocated to the parish or individual churches, can be used for ordinary PCC purposes.
## **Restricted funds**
Restricted funds represent amounts received via trust, bequest, donation or grant for specific purposes as provided in the terms of the trust, bequest or funding appeal. Such funds can only be expended on the specific object for which they were given. Where insufficient funds are held to complete a specific purpose, the PCC may approve a transfer from general funds to fund the deficit, which is repaid once funds become available.
## **Endowment funds**
## _**Expendable**_
The St George's Puzey Legacy Fund is an expendable endowment fund. Both income and capital is available for the general purposes of St George’s. The fund is administered at the discretion of the vicar and churchwardens of St George's.
## _**Permanent**_
The St George's Jack Bradshaw and Timothy Bequest Capital Fund, St Mary's Quibell, Megisson and Wynne Bequest Funds, St Mary Trustee's Account and St Peter's Holy Trinity Institute Fund are permanent endowment funds where the capital is held permanently and cannot be spent.
Income arising on the Jack Bradshaw fund is unrestricted and is paid into St George’s general fund. Income arising on the Timothy Bequest is restricted for expenditure on the fabric of St George's. Income arising from the Quibell, Megisson and Wynne Bequest Funds is administered at the discretion of the churchwardens of St Mary's. Income arising on the St Peter's Holy Trinity Institute Fund is unrestricted and is paid into St Peter’s general fund. Income arising from the St Mary Trustee Account is unrestricted and is paid into St Mary's general fund.
## **9 Kenneth O'Brien Legacy Trust**
The late Kenneth O'Brien left the residue of his estate to be held in trust for the religious and charitable work of St George's Fordington. The Trust is registered as a charity (no 1149746). The PCC holds 14,424.32 CBF Church of England Investment Fund income shares as custodian trustee for the Trust, valued at £298,027 at 31 December 2022. This investment is held separately and is not included in the PCC accounts.
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