The Ecclesiastical Parish of Shiplake with Dunsden Charity number 1138065 Report and Accounts for the 31st December 2024
The Ecclesiastical parish of Shiplake with Dunsden Treasurer's Report 2024 Openlng comments. I was asked by the Rector Rev Robert Thewsey to be the Treasurer of thls parish in August 2024. In October 2024 the Rertor left the parish for pastures new. In order to prepare for the creation of the accounts for the year ended 31" December 20241 reviewed the accounts for the previous year and dlscovered a mysterious write off of approximately £29,000. This amount did not have any explanation in the accounts. Furthermore, it transpired that the analysis of the figures were not as would have been expected in a set of accounts ppared under the regulations stipulating the creation of accounts. As a resul¢ I had to re-create the accounts for 2023. 1 discovered that amounts transferred from deposit account to current account had been treated as income and an amount had been included in the accounts for profit on sale of investments when no investments had been sold during the yearl This Is the reason why the comparative figures for 2023 are described as "Re-ststed". Flnanclal performance for 2024 The net assets at 31st December 2024 were £23,269 higher than at the start of the year. This represents an operating loss of £13,649 offset by an unrealised gain on investments of £36,963. During the year, the parish hall at Shiplake was demolished following a flood which brought the roof down. When investigation took place asbestos was discovered and a decision was taken to demolish the building. An insurance claim was settled by a payment from the insurers of £60,788. The cost of demolition was £37,285. These figures are included in the operating loss of £13,649. If these extraordinary items had not been included the loss would have been £37,152. The value of the site left after clearance has been included at £250,000 which the Trustees believe to be below market value but without a formal valuation, they believe the sum ststed is acceptsble. The overall picture is that the finances of the parish depend upon the value of the investments that the parish owns. Parlsh share It was decided that the parish would pay 95% of the parish share in 2024. This amounted to £51,264. During 2025 the parish wlll endeavour to pay 100% of the parish share. The only way that the parish can pay this sum is by taking the money from investments. These investments represent monies left to the churches in the parish by parishioners in their wills. The Diocese of Oxford to whtch the parish belongs, has net assets of over £500rn including
cash balances of £15m and investrnents of £17m. It increased its net assets in 2023 by approximately £2m. The voracious greed of this diocese cannot be underststed. They determlne what they want in their budget without any regard to what the parishes can afft)rd. They are perfectly happy to plunder the reserves of the parish to satisfy their greed. During the current interregnum the Diocese are graciously giving the parish a discount on the parish share of IO%. This represents a reduction of £5,591. The discount for our sister parish of Harpsden is £3,724. The incremental cost of employing a priest is in the region of £35.000 which means that the Diocese will save that amount. On top of that, the Diocese rent out the Rectory while there is no priest in place. This should generate a further £36,000 per annum. This would indicate that the Diocese is profiting by about £60k per annum while there is an interregnum. In prior years, Shiplake with Dunsden have not paid their parish share in full. The Diocese have indicated that they will not be seeking the parish to make up the shorifall. Operatlng actlvltles Excluding the income from the insurance claim, the income for the year was £65,418. Expenses excluding cost of demolition and the parish share were £67,737 giving an operating loss before parish share of £2,319. Funds were received for the proposed extension at Dunsden church amounting to £7,898 which must be treated as restricted funds. The energy bills represented a major cost of £18,483 of which over £IO,(KKI represented the cost of gas for heating Shiplake church. A very generous parlshloner has offered Dunsden church £200,000 towards an extension for a toilet and a kitchen. There is a stipulation in the gift that the building of this project must be commenced by 31" December 2025. The progression of this project has been delayed by the failure of the donor's attorneys to deal with this in a timely manner and thus there is doubt that the project will fulfil the requirements of the donor. Furthermore up-dated estFmates indicate that the cost of this extension will be considerably more that the £200,0(M) on offer. There will be a requirement forthe parishioners of Dunsden church to find the shortfall. Flnanclal situation The finances of this parish are further confused by the fact that there are two churches in the parish. These two churches have funds allocated to them by donors. The funds are restricted to the churches to which they have been given. Shiplake church has significant assets and a very low congregation. Dunsden has a larger congregation but much smaller assets. The current financial performance is unsustsinable. This parish is operating at a loss and has a cash outflow in the region of £40k each year. Unless things change, there will come a stage fairly soon where Shiplake's assets will be needed to sustsin Dunsden church.
To be clear, the Parish is solvent and is not in danger of bankruptcy, butthe financial position will not currently support the full parish share. Nigel L Smith FCA Treasurer From the Churchwardens of All Saints. Dunsden. We are pleased to report that most of the members of the congregation are now on the Parish Giving Scheme. The plate is passed around at a Sunday service when it is a comblned Benefi Sunday. We know that vlsltors to the church do use the Card Reader/Good box to make the odd donation. Many of these visitors are attending a talk about the Wilfred Owen stsined-glass window then walking the Owen Trail. Thanks to the generoslty of our members a few things have been paid for without a call on the church funds. For instsnce, the outside toilet was re- decorated, and the toilet bowl and fittings replaced. A micro-wave and a fridge were also donated to the catering department. The one major expense this year was the construction of a new soakaway dealing with the excess rainwater at the northeast end of the church. A new sanrtuary light was paid for by a member of the congregation and has been put in place. There have been fundraising events during this year. Notsbly the Harvest Supper, Snowdrop Sunday and the Pancake Supper and Beetle Drive. These were all well-attended and successful and raised substsntial funds towards the proposed building project. Rosemary Jones and John Bodman Churchwardens, All Saints Church
Independent Examinerfs Report to the Eccleslastical Parish of Shiplake wlth Dunsden This report on the accounts of the PCC for the year ended 31st December 2024, which are set out on pages 2 to 7, is in respect of an examination carried out under Regulation 3(3) of the Church Accounting Regulations 1997 to 2LXII (the Regulations) and s.43 of the Charities Act 1993 (the Act). Respective Responsibilites of the PCC and the Examiner As members of the PCC you are responsible for the preparation of the accounts," you consider that the audit requirement of Regulation 3{31 and 5.43 of the charities Act do not apply. It is my responsibility to issue this report on those accounts in accordance with the terms of Regulation 25. Basis of my Report My examination was carried out in accordance with the General Dirertions given by the Charity Commission under sec.43(7}(b) of the Act and to be found in the guidance, 2001 edition, issued by the Finance Division of the Archbishop's Council.That examination includes a review of the accounting records kept by the PCC and a comparison of the accounts with those records. It also includes considering any unusual items or disclosures in the accounts and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts. Independent Examiner's Statement In connection with my examination, no matter has come to my attention l.) which 8ives me to believe that in any material respect the requirements a. to keep proper accounting records in accordance with s 41 of the Act; and b. to prepare accounts which accord with the accounting records and comply with the requirements of the Act and the Regulations have not been met 2.) to which, in my opinion, attention should be drawn in order to enable a proper understsnding of the accounts to be reached. Signed... .Richard Parker FCA... ............................................... Address.....Cromwell Cottage, Cromwell Gardens, Marlow SL7 IBE................................................ Qualification......Chartered Accountant (FCA) page I
The Ecclesiastical Parish of Shiplake with Dunsden STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31st DECEMBER 2024 Unrestrfrted Restricted Total funds funds 2024 £ funds 2024 £ 2024 £ Total funds 2023 £ RE-stated Note INCOME & ENDOWMENTS FROM: Donations & legacies: Donations Insurance claim Charitable activities Investments TOTAL INCOME & ENDOWMENTS £ 42,819.00 £ 60,788.00 £ 22,599.00 3,861.00 £ 130,067.00 7,898.00 £ 50,717.00 £ 60,788.00 £ 22.599. £ 70,409.00 £ 28,989.00 6,793. £ 106,191.00 4,627.00 £ 12,525.00 £ 142.592.00 EXPENDITURE ON: Raising funds Charitable activities Other expenditure TOTAL EXPENDITURE £ 46,839.00 £ 67,535.00 £ 37,285.00 £ 151,659.00 4,627.00 £ 51,466.CK) £ 67,535.00 £ 37,285.00 £ 156.286.00 £ 94,003.00 £ 52,552,00 4,627.00 £ 146.555.00 NET INCOME j (EXPENDITURE) BEFORE INVESTMENT GAINS (LOSSES) Net gains / {losses> on investments 21,592.00 £ 34,632.00 £ 7.898.00 2,331.00 -£ 13,694.00 £ 36,963.00 -£ 40,364.00 £ 32,072.tx) NET INCOME / (EXPENDITURE) BEFORE TRANSFERS £ 13.040.00 £ 10.229.00 £ 23,269.00 8.292.00 RECONauATION OF FUNDS: Total funds brought forward £ 446,682.00 £ 351,545.(K) £ 798,227.00 £ 806,519.00 TOTAL FUNDS CARRIED FORWARD £ 459,722.00 £ 361.774.00 £ 821,496.00 £ 798,227.00 page 2
The Ecclesiastical Parish of Shiplake with Dunsden BALANCE SHEEf AS AT 31st DECEMBER 2024 Note 2024 £ 2023 £ Re-stated FIXED ASSErs Tangible assets Heritage assets Investments 10 11 £ 250,000.00 £ 460,420.00 £ 710,420.00 £ 250,000.00 £ 538,749.00 £ 788,749.00 CURRENT ASSETS Debtors Cash at bank & in hand 12 £ 11,015.00 £ 100,061.00 CREDITORS: amounts falling due within one year NET CURREKfASSETS £ 111.076.00 9,478.00 NEf ASSETS £ 821,496.00 £ 798.227.00 CHARITY FUNDS Restricted funds Unrestricted funds £ 361,774.00 £ 459,722.00 £ 351.545.00 £ 446,682.00 TOTAL FUNDS £ 821.496.00 £ 798,227.00 Approved by the Parochial Church Council on 7R April 2025 and signed on their behalf by Mrjohn Bodman Churchwarden Mr Nigel Smlth FCA Treasurer page 3
The Ecclesiastical Parish of Shiplake with Dunsden STATEMENTOF CASH FLOWS FOR THE YEAR ENDED 31st DECEMBER 2024 Note 2024 £ Cash flows from operatlng actlvltles Income less debtors less: Expenditure Net ouffiow from operating activities £ 70,789.00 £ 119,122.00 -£ 48,333.00 Cash from exceptional items Insurance claim Less: Demolition costs £ 60,788.00 £ 37,285.00 £ 23,503.00 Cash flows from Investments: Sale of investments £ 115.415.00 Net cash inflow Cash at start of the year £ 90,585.00 9,478.00 Cash at end of the year £ 100,063.00 page 4
Shiplake with Dunsden Parochial Church Council Notes to the financial Statements for the year ended 31st December 2024 l. Accounting Policles a. The financial statements have been prepared on the accruals basis in accordance with the Church Accounting Regulations 1997 as amended by the Church Accounting (Amendment) Regulations 2001 together with applicable accounting standards and the Charities Statement of Recommended Practice The financial statements have been prepared under the historic cost convention b. The accounts include all transactions, assets and liabilities for which the Parochial Church Council {PCC) is responsible in law. c. Incoming resources are recognised as follow: Collections - when received Planned giving - when received Fund raising events- when carried out Church fees - when due Investment income- when due d. Consecrated and beneficed property has been excluded by law from the accounts e. No value has been placed in the accounts on moveable church furnishings held by churchwardens on trust for the PCC. Other fixtures, furniture and equipment are written off in the year of purchase unless they exceed £2,000 f. Short term deposits include cash held on deposit at the banks or CBF of the Church of England g. Debtors include amounts due from activities during the year and prepaid expenditure h. Income tax refunds on voluntary income have been allocated in the accounts to the appropriate revenue items. i. Funds are analysed and reported on in a variety of classes, the principal distinction being between Unrestricted and Restricted Funds. Restricted Funds consist of money which has been given by the donor for a specifsc purpose. Unrestricted Funds may include Designated Funds which have been set aside by the PCC to be used for a particular purpose in the future. The PCC has the power to reallocate these funds. page 5
The Ecclesiastical Parish of Shiplake with Dunsden NOTES TO FINANCIAL ACTIVITIES FOR THE YEAR ENDED 3tst DECEMBER 2024 2. INCOME FROM DONATIONS & LEGACIES Unrestrlrted funds 2024 £ £ 28,217.00 6,864.00 Re-stated Total funds 2023 £ £ 36,737.00 £ 10,116.00 Total funds 2024 £ £ 28,217.00 6,864.00 funds 2024 £ Parish giving Tax recoverable on gift aid Loose plate collections & other planned giving Appeals & donations Good Box Dun5den extenslon Dun5den Window Legacies 4,249.00 2,452.00 1,037.00 4,249.00 2.452.00 1.037.00 7,898.00 £ 12,817.00 1,090.00 1,252.00 7,898.00 8,397.00 £ 42,819.(10 £ 7098.00 £ 50,717.00 £ 70,409.00 3. OThER INCOME Insurance claim £ 60.788.00 £ 60,788.00 4. CHARITABLE ACnVinES INCOME Re•Stated Total funds 2023 £ Unrestrlcted funds 2024 £ Tolal funds 2024 £ 1,647.00 7,912.00 £ 13,040.00 funds 2024 £ Fund raisin8 events Fees for weddings & funerals Shiplake College Donation Shiplake cholr fund 7,912.00 £ 13.040.00 £ 14,907.00 £ 14,082.00 £ 22,599.00 £ 22,599.00 £ 28.989.00 Total 2024 £ 126,206.00 £ 798.00 £ 134.104.00 £ 99.398.00 5. INVESTMENT INCOME Re-stated Total funds 2023 £ 229.1)0 6,564.00 6.793.00 Unrestrirted funds 2024 £ 1,785.00 2,076.00 3A61.00 Restrfcted funds 2024 £ Total funds 2024 £ 1,785.00 6,703.00 8,488.00 Bank & CBF deposit intet Dividend5 £ 4.627.00 £ 4W7.00 Total Income 2024 130,067.00 £ 12.525.00 £ 142,592.1)0 £ 106,191.00 page 6
The Ecclesiastical Parish of Shiplake with Dunsden 6. COSTS OF RAISING FUNDS Re-stated Total funds 2023 £ £ 10,397.00 7,761.00 £ 16,927.00 £ 13.368.00 7,020.00 1,523.00 4,080.00 2,858.00 UnrestriLted funds 2024 £ 18,483.00 7,606.00 6,746.00 RestriLted funds 2024 £ Totsl lunds 2024 £ £ 18,483.00 7,606.00 £ 10,243.00 1,130.00 7,060.00 2,663.00 1,806.00 2,475.00 Light, heat. water & cleaning Insurances - churches Property maintenance- Shiplake Property maintenance- Dunsden Organist fees & expenses Upkeep of services Churchyard maintenance- Shiplake Churchyard maintenance- Dunsden 3,497.00 1,130.00 7,060.00 2,663.00 1,806.00 2.475.00 £ 46,839.00 £ 4.627.00 £ 51,466.00 £ 63,934.00 7.Church hall demolltlon Dunsden Window £ 37,285.00 £ 37,285.00 £ 30.069.00 8, EXPENDITURE ON CHARYfABLE AcfiviTIES Unrestrlrted fvnds 2024 £ 225.00 51,264.00 4,491.00 3,176.00 6,756.00 1,139.00 Re-stated Unre5tritted funds 2023 £ 142.00 £ 15,000.00 5,770.00 £ 11.180.00 5,141.00 4,941.00 9,971.00 Restrlrted fvnd$ 2024 £ Unrestrlcted funds 2024 £ 225.00 £ 51,264,00 4,491.00 3,176.00 6,756.00 Giving to agreed charitles Parish share Parish share weddings & funerals Share of Benefice Clergy expenses Share of Benefice office costs Admin. post. printin8 & stationery Church Hall Development Henley Deanery Synod Levy 484.00 £ 67,535.00 £ 67,535.00 £ 52,552.00 9.TOTAL EXPENSE £ 151,659.00 £ 4,627.00 £ 156.286.00 £ 116.486.00 10. CHARITY HERITAGE ASSETS lerltage asset Total £ Market value At 01.01.24 £ 250,000.00 £ 250,000.00 At 31.12.24 £ 250,000.00 £ 250,01)0.00 In 2013 It was establlshed thatthe freehold land comprlsln8 the Church Hall were in frdtt conveyed to the Parochlal Church Coundl from the Dlocese in 1977. The Church Hall has been demollshed but the trustees conslder that the land value Is stlll valid. 11. FIXED ASSEf INVESTMENTS Usted SerItIeS £ 2024 £ 538.749.00 -£ 114,453.00 £ 36,124.00 £ 460,420.(10 Llsted securities £ Market value At Istjanuary Less: Realised Revaluations At 31st December £ 506,677.00 £ 32,072.00 £ 538.749.00 Restricted Unrestricted £ 103.037.00 £ 357,383.00 É 460A20.00 £ 101,545.00 £ 437,204.00 £ 538,749.00 12. DEBTORS 2024 £ £ 11.015.00 Other debtors pa8e 7