PARISH OF ST PETER'S, HALLIWELL A Registered Charlty No.. 1138035 FINANCIAL STATEMENTS OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2026 INCUMBENT: REVEREND ALAN SAUNDERS ONE PARISH- ONE CHURCH- ONE WSION RANSFORMING BOL TON TOGETHER IN JESUS, NAME" ## **PARISH OF ST PETER’S, HALLIWELL** ## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025** ## **PAGE CONTENTS** |2|Report of the PCC| |---|---| |3|Independent Examiner’s Report| |4|Combined Income and Expenditure Account| |5|Statement of Financial Activities| |6|Balance Sheet| |7|Statement of Cash Flows| |8|Accounting Policies| |9|Notes to the Financial Statements| PARISH OF ST PETER'S, HALLIWELL REPORT OF THE PCC FOR THE YEAR ENDED 31 DECEMBER 2025 1. BACKGROUND, STRUCTURE. GOVERNANCE AND MANAGEMENT The Parish of St Peter's. HaIl￿ell, comprises four fellowships meeting in.- Sl. Pelerfs Church, 419 Church Road. Bolton, BL1 5RR Hope Centre at Sl. And￿w,5. Tattersall Avenue. Johnson Fold Barrow Bridge Mission, Barrow Bridge Road Smilhills Fellowship, The Chapel of Smilhills Hdl and St Peter's Smithills Dean Church of England Primary School Each of the four churches has rts own Leadership Team to deal with matters particulady concernir4J its own fellowship. The Leadership Teams are Sub-committees of the Parochial Churth Council. Wth the exception of Sl Peter's, each fellowship holds its own Annual General Meeting and issues its ¢)wn Annual Report. Each of the churches are represented on the PCC, there is no impact on ImKAementing policy and the sister churches are supportNe of the objeth"ve5 and aims of the PCC. By the Parochial Church Council (Powers) Measure 1956 the PCC is required to Co-operate with the Minister of the thurch in promoting in the parish the whole mis*on of the Church, pastoral. evangelistic, 80cial and ecumenical- this Ihe PCC continues to do very readily. Bankers.. Each fellowship banks ￿￿th the Royal Bank of Scodand Funds a￿ also held with the Central Board of Finance and CAF Bank Legal Advisor. Jane Monks IDK)cesan Registrar) Indep8nd&nt Examiners Pierce (Bolton), Chartered Accountants and Registe￿d Auditors Parish Office.. St Pelels Parish Centre 347 Church Road, Bolton, BL15RR The Parochial Church Counal is 8 corporate body established by the chU￿h of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC is a registered charity. The PCC members. as shown in note 2 are responsible for making decisions on all matters of general concem and importance lo the parish, including deasons on how the funds of the PCC are to te spent. New members receive initial training into the workings of the PCC. The Diocese of Manchester requires Parothial Church Council IPCCI members to understsnd their role as eharfty trustees, ensuring compliance With charity and ecdesiaslical18w. Induction indudes signing a and proper persons" declaralis)n, undergoing enhanced DBS checks, and accessing training on governance, finance, and safeguarding, often via national Parish Resource5 and diocesan 5UPPOrt, per the Anglican Domain. PARISH OF ST PETER'S, HALLIWELL REPORT OF THE PCC FOR THE YEAR ENDED 31 DECEMBER 2025 Key Aspects of PCC Induction & Govemancg: Trustee Duties-. PCC members are charty trustees and must understand their responsibility for financial solvency and ¢telivering charitable outcomes. Declarations.. Al members must sign 8 'YIt and proper peTs¢Jns" dedaration. Safeguarding.. Mandatory training is required, and members should understsnd how Safeguarding is intrinsic lo the Christian faith, notes the Anglican Domaln. Training & Resources.. The diocese recommends using resources like the Parlsh Resources trustee induction booklet. Specific Roles.. Dedicated training exists for churchwardens, treasurers, and safeguarding Dfficers, a5 Outlined on the Anglican Domain and the Anglican Domain. Safer Recruitrnenl." New memb&rs must be aware of Safeguardi￿ practices. and some may need to complete safer recTurimenl training, according lo the Anglican Domain. 2. MEMBERSHIP Members ofthe PCC are either ex officio or elected ty the Annual Parochial Church Meeting. {APCM) in accordance with the Church Representation Rules. During the year the followng seNed as members of the PCC: Alembers on PCC from 30 Aprll 2025 to 30 Aprll 2026 Rev. A. Saunders S. Walsh Ires 01105125) C. Hargr8ves C. Ward Ires 011051251 P. Caffrey D. Cieszynski D. Caffrey S. Scott F. Tatterton (appt 01105125) M. Peake H. Slabnthorpe A. Blease E. Wnstanley B. Johnson P. Gray J. Johnson Ires 01105125) D. Ball S. Johnson C. Rigby P. Weaver Ires 011051251 D. Starkie C. Saunders H. Walson D. Park lappt 011051251 S. Godley (appt 01105125) Members on PCC from 30 Aprll 2024 to 30 Aprll 2025 Rev. A. Saunders S. Walsh C. Hargraves C. Ward P. Caffrey D. Cieszynski D Caffrey S. Scott M. Peake A. Blease B. Johnson J. Johnsc S. Johnson P. Weaver C. Saunders H. Slainthorpe E. Winstanley P. Gray D. Ball C. Rigby D. Starkiè H. W8tson A number of member5 also take part in Deanery affairs. 3. PUBUC BENEFIT We have referred lo the guidance in the Charty Commigsion's general guidance on public benefit when raviewing our aims and 04'eetivÈs and in planning our fulure aCtiv￿"e8. In particular, the members have considered the activities of the Church and the Rewew of the year, and assessed their future plans. They are satisfied that the criteria for public benftfit are comprehensively achieve. PARiSH OF ST PETER'S. HALLIWELL REPORT OF THE PC FOR THE YEAR ENDED 31 DECEMBER 2025 4. OBJECTIVES AND AcMv￿1Es St Peter's Parish seeks to equip and support one another to be disciples out in the world as each of us goes about our daily lives. As a churth we are passionate about Teaching OLrt lo our wder commynty and sharing the Gospel. We disciple members of our church through Sunday services and midweek life groups. We offer adivities dunng the week for ￿1 ages of eur community so we can share the love of Jesus and bless those in our local area. We also donate money lo mi5SIDnary groups in the UK and abroad. It Is difficult to measure the suc¢8ss of a church as spiritual giowth is subjeth"ve. One rneasure is through weekly attendance at Sunday services 8nd midweek groups. Attendance al setvices and community events has remained steady during the year, Mth some new members 8ttracted over the past year. Volunteers make a $Sgnifficant impact to the life of the church, and we provide many activrties for all ages. youth and children's groups, art groups, coffee momings etc. Wthout volunteers, the churth would not be able to offer the services and support groups r( does. PARISH OF ST PETER'S, HALLIWELL REPORT OF THE PCC FOR THE Y&4R ENDED 31 DECEMBER 2026 5. REVIEW OF THE YEAR In 2025. parish wde consolidated income increased by £37k vthen compared to 2024 income. Thls increase can largety be explained due to grants received for the parish CAP centre, and an increase n income from the hire of buildings across the parish. The use of parish buildings by community groups continues lo be a great way to build up our engagement with the local community and bring in much needed income lo cover their operating and maintenance costs. It should be noted that income from the Quinta Parish Weekend was recognised in 2025 and a legacy of £15K was received. Parish wde expenditure appears to have decreased by £18k when c￿pared lo 2024,. this is due to reduced expendf(ure on Sl. Peterfs Church maintenance when Compared to 2024. If the impad of expenditure on SL Peter's Church maintenance is removed from the figuTes, then the parish has spent £50K more in 2025 than 2024, mainly on the maintenance and upgrade of the Parish Centre, missionary giving and general thureh activities. The PCC conlinue to save £2k each month for the maintenance of the church buil¢Jing. In May 2024, a positive discussion wlh the diocese ￿sUlted in a three-year agreement lor a realistsc parish share contribution. As a result of the faithfijl and regular giving by God's generous people, we have been abte lo meet our obligations in many areas and contributed the full parish share request of £118k lo the Diocese. The PCC has CoMm￿ed to contribute the agreed £124k towards the 2026 parish share, but, with the challenging economic situation and increasing costs, this leaves us wlh forec8St budget deficit of c£15k for 2026. We look to our faithful heavenly father to continue to bless the church finances and give wisdom to the rnembers oflhe PCC lo steward our resources effectively, honouiing the sacrificial giving of many people aGross the parish. During 2025. financial support for St Peter's National and Inlemational Ministy INIMI tolalled £43.8k in offerings and donats'ons. induding gift aid. This income is £6k hKJher than the previous year which is an encouraging figure. Due to cash re$erves. we were able to SUPPOrt our missonary commitments wth expenditure of £49.7k. It is encouraging that acTOSS the total parish we were atle to suppe41 missionaries, both local and Internat￿nal. wlh outgoings of £79k. This is testimony to the gener08ity of the people of St. Peters Parish and our commthient to support this vital work. sharing the good news of Jesus lo those who have not heard. The monthly stsnding order don*'ons to support the parish CAP Oebt Centre cover two thirds of the full cost of this ministy. We received a number of grants in 2025 to continue this vrtal work to help those struggling in debt in our town. The fijnd had a fantastic balance of £43.1k at year end which we thank God for. 9K of the Manchester Diocese Council for Social Action ICSA) grant, awarded in February 2025, was Spent on the CAP centre managerfs salary, CAP HQ expenses, other expenses and client support in 2025. CAP expenditure in 2025 also included £5.3K carried forward from a CSA grant of £8,000 awarded in July 2024. The Youth Minister fun¢J had a balance of £43.5k al the year end. December 2025. The parish and PCC Bre praying for the right Candidate lotake upthis post; this has proved difficult due tothe shortage of candidates available. We give thanks and praise for our Lord's provision during 2025 and pray that in the year ahead we may individually respond to the Lord's call on our lives and our resources in our mission to Iransfom Bott￿ together in J8sus' name. PARISH OF ST P￿ER'S, HALUWELL REPORT OF THE PCC FOR THE YEAR ENDED 31 DECEMBER 2025 tt 1$ a privilege to serve the Parish of Sl Pet8rfs, Hallwell as Treasurer and I thank 811 those involved who support the 8dministering of the parish ffnances lo resource ministry and oulreath in St Peter's Parish and beyond. l express my particular thanks to.. Elaine Vincent in her role as Parish Finance Officer, for maintsining accL¥ate and detailed accounting records and keeyng Ir8ck of income and expenditure acr055 the pansh. Amanda Blease for her work as Parish Business Manager and her support of the finance team. The Treasurers al the sister thurches.. Julia Forrester at Barrow Bridge, Val Beasley at Smithills and Steve Walsh at St Andrews, and also Geoff Gunshon for his work on the missionary accounts and Phil Weaver for his work on Gift Aid adminislralion. The Parish Office banking team.. Dave Wllesuoft, June Johnson, Kalh Richardson, Jez Wolslencroft and Janet Sams and all tre sides people, welcome team and plate collection counters. Your services are invaluable. ACh￿veMentS and PerfO￿nanCe Sorne of the achievements during the year were as follows.. YoLrth and children's groups whlch are all about having fun, playing games, doing crafts and leaming the bible Demenba Support group for those in need Oasis midweek Se￿iCe provides a coffee morning and short semce for many people CAP centre supportng Ih05e in debt auoss Bolton Parrsh Centre continues in providing a fantastic communrty facility to host many groups in the community, art Classes, exerdse dasses, hist¢yy sttiety el Missionary group that coth'nues to supw* charities in the UK and Over5ea3 The church has made steady progress Iijward i(s objectives over the past year. Attendance at services and community events has remained steady and the church has attracted some new people over the past year. FinanryJly, the church has remaine(I Sta￿e, wlh regular giving 8UPPOrting ongoing ministries. Volunteer partiapation in s¢yne ministries remains limited, placing pressure on a small number of active members. In addition, m8intsining consistent engagement among younger members continues to be a challenge. 6. INVESTMENT POUCY Consldering the current challenging financial climate. the PCC has considered the most appropriate policy for investing funds. The PCC funds are spent where required in the short-temi and a prudènt amount held to maintain healthy cash flow. PARISH OF ST PETER'S, HALUWELL REPORT OF THE PCC FOR THE YEAR ENDED 31 DECEMBER 2025 7. REAPPOINTMENT OF INDEPENDENT EXAMIMER A resolution will be proposed al the forthcoming APCM to reappoint the Independent Examiner, Mr Alexander Stewart Howarth of Pierce (Bollonl Ltd. 8. STATEMENT AS TO DISCLOSLIRE OF INFORMATION TO INDEPENDENT EXAMINERS So far as the members are aware, there is no relevant information Of￿￿1C￿ the independentexaminers are un8w8re, and each member has taken all the steps that helshe ought to have tsken as a member in order to make himlherself aware of any relevant infornialion and lo establish that the Parish's independent examiners are aware of that infomialion. . RESERVES POLICY 11 is the policy of the PCC lo malntain minim￿) unrestricted funds, SLffi¢ient to cover approximately 12 m¢￿th$ fund raisng and administration costs. The total funds balance at the end of the year was £1,927.813 12024.. £1,879,822) wth £196,834 12024.. £169,938) of these being restricted and £1,576,559 12024.. £1,576.5591 the capital reserves balance. These funds are held by the PCC and are detailed in note 6 to these accounts. Unrestricted resetwes at the end of the year are £154,420 {2024.. £133,325), which would be suffioent lo cover Iwelve months fundraising and administration wsts. 10. RISK REVIEW The PCC has conducted its own review of the major risks to which the charrty is e>posed and systems have been established to mitigate those risks. One risk is financial uncertainty. Church income often depend5 on donations and regular glving fmm members, which can fluctuate due lo economic conditions or changes in attendance. To manage this sk we encourage planned giving. maintain carefvl budgeting, and regularfy review expendfture to ensure resources are used efficiently. Another key risk 18 dedlning or inconsistent 8ttendance, particularty among younger generations. We are actively advertising for a YoLrth and Chiléren's Ministy Lead lo enable us lo engage youn9 people in the area and develop links with families and sthools in the area. There are also operational and safeguarding risks, such as ensuring the safety of children and vulnerable adults during church activities and maintsining church property. To reduce these risks, the church follows safeguarding policies, conduct background checks where required, prowde training for staff and volunteers, and regularty review health and safety procedures. Overall, by regularly reviewing Ihestt risks and implementing appropriate management strategies, the church can minimise uncertainties and continue to work effectt'vely toward achieving ils mission and Il￿g-terM objectives. PARISH OF ST PETER'S. HALUWELL REPORT OF THE PCC FOR THE YEAR ENDED 31 DECEMBER 2025 Operating costs are likely to affect the church's financial po8ltlon. There ha8 been a signfficant increase in the utility costs over the last year and building maintenance is an ongoing challenge. Effo¢tive budgeting and financial planning will be important to ensure these costs remain manageable. The Suc￿sS of fvndraising activities and grants may also play a role in the church's future finances. Special fundraising events, donations from supporters, and extemal grants can provide additional financial support for church prolects and community inltiatwes. 11. PLANS FOR FUTURE PERIODS The church F4ans to employ a Youth and Chiklren's mlnisty lead to strengthen yOLrth and children's ministries and lo encourage greater involvemenlfrom younger members. There are also plans in place lo employ an Associate Minister to assist the incumbent in running the Parish. The church will continue to 8nsure financial sustainability and good stewardship by encouraging regular giving and maintaining responsible financial management to support future ministries and projects. 12. STATEMENT OF MEMBERS, RESPONSI8ILrriES The memb8rs arg rosponsible for preparing thè Trustees, Annual Report and the financial statements in accordance with applicable law and Unrted Kingdom Accounting Standards (United Krngdom Generally AC￿pIed Accounting Practice). Law applicable lo charities in England and Waleslscotland requlres the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities duiing the year and of ils financial posrtion at the end of the year. In preparing financial statements giving a true and fair view. the members $houkl follow best pra￿l¢e and; • Select suitable accounting pollcies and then appty them Consistenty.. • observe the methods and principles in the Charitie$ SORP {FRS 1021., make judggmenls and estimates that a￿ reasonable and prudentr. state whether applicable accounting Standards and Statemonts of recommonded practice have been followed su4.ect to any departures disclosed and explained in the financial statements- prepara the financial slalements on the going concem basis unless It is inappropriate to presume that the charity will continue In operation. The members are responsible for keeping accounting records which disclose wlth reasonable accufacy the financial position of the charity and which enable th￿n lo ensure that the financial sl8lements comply applicable rggulations. They are also responsible for safeguarding the assets of the charty and hen￿ for taking reasonabie steps for Ihe prevention and detection of fraud and oth8r irregularities. APPRO DBYT AND SIGNED ON ITS 8EHALF BY.. Reverend Alan nderg- Chairman 24 March 2026 INDEPENDENT EXAMINERS, REPORT TO THE PCC OF ST PETER'S. HALUWELL FOR THE YEAR ENDED 31 DECEMBER 2025 I report on the xcounts of the PCC forthe year &ndgd 31 December 2025, which are set out on pages 1 to8. R•spoctiv• rnsponslbllltlès of PCC and the examlnèr The members of the PCC are responsbi le forthe preparation of the accounts. The PCC consider that an audit is not required for this year under section 14412} of tho Charities Act 2011 Ithe 2011 Acll and that an independent examinat￿n is neaded. It is my respons*)ilty to= Examine the accounts under sgction 145 of 2011 Act; To follow the procedures laid down in the General Direclions giv8n by the Charity ComMiss￿nerS (under section 145151{bl of tho 2011 Act),. and To state whether particular matt8rs have come to my attention. To adhere to the FRC Ethical Standard when wnducting review engagements, including 'Provisions Available for Small Entities" as describ8d in the circumstances set out In note 11 to the financial statgments. Basis of Independent Examlnèvs report My examination wgs carried out In accordance vilh general directions gN8n by the Charity Commission. An examination in¢lude5 a review of the ac¢ounting reeords kept by the Charbty and a mparison of the accounts prasenled with Ih08e records. 11 also includes consideration of any unusual items or disclosures in thè accounts, and seeking explanations from the managemenl committ88 concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion 1$ gwen as lo whethgr the accounts prèsent a 'lrue and fair view, and the repcft 15 limited to Ihosg matters sel out in the statement bel¢)W. Ind•p•ndont examiner's statement Slnee the gross inccme for the year excèed8 the amount provid6d th Sethn 145131 of the Art I confimi that l am qualifie(I to act as Independent Examiner und&r the provisions of that section of the Act and that my qualification is as shown bfrlow. In connection with my eXaminat￿n, no matter has come to my attention: 1 whth gives me rea80nable cguse lo beli8ve that In any material rosped the requirements.. to keep accounting records in accordan¢& wlth section 130 of the 2011 Act,. and lo prepare accounts which ￿1rd wrth the accounting records ond comply with the occounting requirements of the 2011 Act have not been mel or 2 to which, in my opinion, attention s￿)Uld be drawn in order to enable a proper understanding of the accou o be reached. Alexander Stgwart Howarth FCCA Pigrce {Bolton) Ltd, Chartered Aeeountants *nd Reglsterod Auditor Hazl•mere, 70 Chorley New Road. Bolton, BL14BY 24 March 2026 PARISH OF ST PETER'S. HALUWELL COMBINED INCOME AND EXPENtXTURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025 Note 2026 2024 INCOME Voluntary Income Offerings and Donations Offerings for Missions Incorne Tax Recovered Legacies Grants received Miscellaneous Inc(#ne 281238 38954 60234 1 SOOO 46256 2136 281213 34435 62722 30182 28144 2888 Income from Investments Bank Interest Rent of House Inc￿ne re Use of Cenlres and Miswon Commonwealth War Graves 683 9540 34545 310 671 9540 18251 310 Income from Church Actlvltles Café on the Green Tots & Hub Fees QUINTA ch￿stmaS Markets Christmas Tree Festival Bonfire 4476 3076 5764 13829 11217 971 1762 4505 3757 6007 11379 2356 othv Income Insurance Claim contrib￿lI0n to Parish Centre Running Costs 3226 1016 TOTAL INCOME 534233 497285 EXPENDITURE Fundraising Costs Church Activities 486242 504114 TOTAL EXPENDITURE 486242 504114 NET INCOMEI(EXPENDITURE) Balance Brought Forward at 1 January 2025 47991 1879822 168291 1886651 Balance Carried Fotward at 310ecember 2025 1927813 1879822 PAPJSH OF ST PETER'S. FLALLIWELL STATEA*NT OF mANCIJLA¢TMTIES FOR TbE YEAR ENDED 31 CeCEMBER2025 UMe5trlGtEd Capital Rfjsirfrt•d Resenfe Fun¢Js Total 2026 Ttxal 2024 INCOME VOl￿tary Incorne Inrome Ir(th Inve8trnen Church Adiwe5 Other Income 314889 45020 41095 4242 128825 58 443818 078 41096 4242 43￿64 2B772 945 TOTAL INCOME 405348 128tsb7 534233 497285 ExPENDIT￿e Fundraislng Costs Churthkuwtyes 21a) 21bl 360401 125841 486242 504114 TOTAL EXPENDITURE 3fj0401 125841 486242 Sll4114 NET INCOMW(EXPENt*nJRE) Tr8nsferbefv¥een Funds 44945 123BS01 47991 158291 23850 NET MOVEk4ENT IN FUNDS B3lances B￿[￿1 Firngrd8t 1 2W25 Balances Catned at 31 De*mitr 2025 2109S 133325 1576569 154420 157e559 26898 47991 t69938 1879822 188e651 1968J4 1927613 1879822 The PArtsh ha5nogwnscf b95e5 Qtherlhan the Su￿U5 l(rthe aiM)vefin8nrJ* year. al 4cliiriDe5 undertaken by the Parfsh wére ¢￿t￿ulD9 a¢b￿be$ and the reported 6urrJu919 conskknlwth Ihe HIStori￿ CoEt PruThl 88 by the Finan0￿ Rep￿￿ry 1Q. PARISH OF ST PETER'S. HALLIWELL BALANCE SHEET AT 310ECEMBER 2026 Note 2026 2024 FIXED ASs￿s Tangible Fixed Assets 1604991 1602210 CURRENT ASSETS Debtors Cash at Bank and In Hand 30871 319597 49096 282108 350468 331204 CREDITORS: APKIUNTS FALUNG DUE WITHIN ONE YEAR AccnJ8ls ancl Deferred Income 27646 53592 NET CUFUiEMT ASSETS 322822 277612 TOTAL ASSETS LESS CURRENT UA8IUTIES 1927813 1879822 FUNDS Unreslrided Reslricled Capital ReseNe Oesignaled 5&6 154420 196834 1576559 133325 169938 1576559 1927813 1879822 Approved by the Par Church Council on 24 March 2026 and signgd on behalf by.. Reverend Alan Sa ders (Chairman) Mr Simon Scott (Warden) PARISH OF ST PETER'S. HALLIWELL STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 DECEMBER 2025 2026 2024 Casmows from operatlng actlvltles.. Net cash provided by (used in) operating activities e79 Cashflows from Investlng actlvllles: Purchase of propety, plant and equipmenl 10246 2214 Nel cash provided by (used inl investing activities 10246 2214 Casmows from financlng acllvltles: Net cash provided by (used inl financing actwf(ies Net increaselldecrease} In cash and cash equivalents 37489 12893) Cash and cash equivalents 811 January 2025 282108 285001 Cash and cash equivalents at 31 December 2025 319597 282108 Rèconciliation of net movemènts in to not ￿$h flow from operating activities Net movements in funds for the year ended 31 December 2025 47991 (68281 ustrnenls for.. Depreciation charges Ilncreaselldecrease in debtors Increaselldecrease) in credrtors 7465 18225 25946 8161 1127321 10720 Net cash provided by lused in) operating actiwtses 47735 679 Analysls of cash and cash equlvalents Cash in hand 319597 282108 319597 282108 PARISH OF ST PETER'S, HALUWELL ACCOUNTING POUCIES FOR THE YEAR ENDED 31 DECEMBER 202S Basls of Preparatlon The financial statements have been prepared under the Charthes Act 2Q11, in ac¢ord8nce with the Church Accounting Regulations 2006 governing the individual accounts of PCCS, and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Charf(ies SORP 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accovnls in accoradance vKth the Financial Reporting Stand8r¢J applicable in the UK and Republic of Ireland IFRS 1021. The PCC is a public benefil entrty as defined by FRS 102. The finandal statements have been prepared under the historical cost convention except for the valuation of investment assets. which are Sho￿ al market value. Funds General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for 8ppliGalion on the general purposes of the PCC. Funds designated for particular purposes by the PCC are also unreslrided, as the PCC can reassign those monie5 if il 50 desires. Restricted funds can only be used for their slated purpose, any balance remaining unspent al the end of each year is carried forward as a balance on that fund. The accounts include all transactions, assets and liabilities for ￿lch the PCC 18 responsible in law. They do not indude the accounts of church groups that owe their main affiliation lo another body nor those that are infomd gatherings of Church members. Each of the 4 worship centres (St. Peter's. Barrow Bridge Mission, St. Andrew's Johnson Fold an¢J Smithills Fellowship) have their own Account, bul that for St. Peter's also inLgudes matters relating lo the whole Parish. Income Planned giving, collections and donations are r￿QgniSe