Charity Registratlon No. 1138072 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Ilwimborne Minster www.wimborneminster.org.uk HILLOSBORNE ALCOVNTANTS & BUSINESS ADVISEFtS THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER LEGAL AND ADMINISTRATIVE INFORMATION Charity Tru$tges The Reverend Canon Andrew J W Rowland The Reverend Suzie Allen The Revefend Heather Waldsax Mrs Elfie Mills (Licensed Lay Ministerl Mrs Deirdre F Ashton Mr Peter Cook MrAndrew Patrick Mr Bruce Jensen Mr Richard Knott Mrs Sheila Soper Mrs Jane Davidson Mrs Anne King Mrs Sarah Steele Mrs Alison Franu5 Mrs Minna Harvey Mrs Heather Davey MrAnd￿W Kelley Mr Dennis Child Dr John Waldsax Mr David Allen (Appointed 30 March 20231 (Appointed 30 March 20231 Charity number 1138072 Independent examiner Hill Osbome Tower House Parkstone Road Poole BH15 2JH THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER CONTENTS Page Trustees, report Indgpendenl examinef's report Statement of financial activities Balance sheet Notes lo the finanrjal slalernents 8-26 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Preambl In line with Ihe requirements of Church AccoLtnling Regulat10ns120061 logelher wrth accounting standards and the Charities SORP applicable to Parochial Church Councils within Ihe Church of England, the financial activities of the Wirnborne Minster PCC are presented in this document fDr the year ended 31 December 2023 The financial ststemenls have been prepa￿d In accoTd8n¢e wth the accounting policies set out in note 1 to the financial statements and eompty with the PCC'S goveming document. the Charities Act 2011 and Accounting and Reporting by Charities Slalement ol Recommended Practice applicable lo chanties preparing their accounts in 8ccordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 1021" leffective 1 January 20191. The chanty Iruslees who served tjunng the year and up lo the dale of signature of the finanoal statements were. The Reverend Canon Andrew J W Ro￿and The Reverend Susie Allen The Reverend Heather Waldsax lex officiol The Reverend Nicholas Wells Mrs Elfie Mills (Licensed Lay Minister) lex offiao) MT Peter Cook Ichurchwardenl Mr Bruce Jensen Ichurchwardenl MrAndrew Palnck Ichurchwarden Emerilus and Deputy Church Warden) Mr Richard Knott (Honorary Treasurer and Deputy Church Warden) Mrs Jane Daviason Isafeguarding Officer) Mrs Deirdre F Ashton IDeputy Safeguarding Officer) Mrs Sheila Soper Mrs Anne KiThJ MrAnthony K Oliver MBE Mrs Sarah Steele Mrs Alison Francis Mrs Healher Davey Mrs Rosemary Lunt Mrs Minna Harvey Mr Dennis Child Mr Andrew Kelley Dr John Waldsax Mr David Allen Istood down July 20231 Istood down 30 March 20231 (Stood dovln 30 March 20231 (Appointed 30 March 20231 (Appointed 30 March 20231 Honorary Secretary Mrs Beatrice Dopila Electroral Roll Officer Mrs Jane Maccaig Independent Examiner Hill Osbome Chartered Accountants Tower House PaTkstone Road Poole Dorsel BH15 2JH Objectives and aetlvltlos The charity Iruslees have paid due regard lo gui(Jance issuecl by the Charity Commission in deciding what Octivities the PCC should undertake. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER TRUSTEES, REPORT ICONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2023 Activities of the Council The activities of the Parochial Church Counal are outlined in the Reports Presented for The Annual Parochial Church Meeting Booklet. This can be viewed or downloaded from the website wimbomeminster.org.uk. Achlevements and perfomiance The Minster was generally open from 10am- 4pm Monday lo Saturday. The pattem of worship of four services on Sunday 18.'00. 9."00. 11'15am and 6'.30pml and a mi¢*week semce 111".OOaml together with many special worship services has attracted new worshippers Sunday worship al 9.30am land certain occasional services) have been broadcast online via YouTube. with an average of 35 households aitending live and further views thereafter Events and special seasonal services tcok place together wth Occasional Offices (Baptisms. Weddings and Funerals). We were particularly encouraged by large attendances al seasonal servTces. and the many concerts 0￿SlOn￿l Offices and events. We were able to fund substantial work with young chonsters and 0￿reaL* ministrie5 to families. Electoral Roll". The number of person5 on the electoral roll as 31 December 2023 was 322 Attendance al major seryices Increased compared lo 2022.. Easter Day 371 Advent Cafol Service 294 Christma5 CaToI Seryice 263 Crib Service 450 Christmas Eve. Evening 256 Chnslmas Day Services 261 Financial review The chanly trustee5 have assessed the major risk5 to which the PCC is exposed, and are satisfied that system5 are in pla￿ lo miligale èxposure to the maior risks Structure, governance and management Constltutlon of th& Council The Parochial Church Coun&1 is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powe15 Measure The PCC was registereQ with the Charity Commission with effect from February 2010. Role of the Council The PCC have considered Ihe Charity Commission'5 guidance on public benefft and the advancement of religion The PCC cckoperales with the Rector in promoting In the parish the whole mission DI the Church. pasbral. evangelistlc. 50¢5al and ecumenical The PCC sees the Minster's rnission as wtnessing steadfastly lo the Christian faith and proclaiming the gospel through prayer and preaching, through service to the community ol Wimborne and 10 VlSltor5 10 the town. throu9h 3er¥ice to those In need beyond tha town of Wimborne w¢S through careful stewardship of the Minster's heritage of excellence in its worship and in Its fabric The Minster also conlnbutes to the spiritual and musical education of young people in the local area by inviting them to take part in the Choir. Experience Easter in the Minster and through Open the Book THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Appolntment, Indu¢tlon and tralnlng of trustees of the Council The trustees of Ihe PCC are elected in accordance wth the Church Representation Rules Two trustee5 may be Co-opted for a period of one year Members of the ¢lergy and churchwardens are ex-officio trustee5 of the PCC and all committees. Help and lamiliansation is available through discussions with the Rector and Churchwardens. and the Treasurer provides training in understanding PCC accounts where necessary. Organisalion of the Councll In order to di%harge Ils duties, the PCC appoints a numbèr of committees which meet on a regular basis. It also employs staff lo caTry out various functsons The PCC generally rneets 6 times per year. The main PCC committees are". Standing and Fabric. Further committees meet as necessary. Minster Environment Group. Fundraising and Evenls. Worship and Music. Outreach and MinsteT Green Charities Fair. The PCC is represented by 5 members al Deanery Synod antt 1 member al Diocesan Synod. The PCC takes this DPPOrtunily to Ihank the employees of the Minster for the fine manner in which they perform their duties throughout the year in support of the Minsterfs aims. to W5tness to Jesus Christ and ak¥ays provide a warm and welcoming environment al the Minster. Risk Management The PCC has ￿nsId￿red and assessed the major risks lo which they may be exposed and are satisfied that measures are in place lo deal with major nsks should they occur. There is regulaF Communication with the Minster's insurers. other Major Churches and the local authonty on this subject Action has been taken on matters ol security in light of the worldwde attivity against faith groups An annual risk review Is Carried out as part ol the insurance renewal process and specific Risk Assessment reviews are carried out before new enterprise starts. The tru es, report was presented lo the Parochi81 Church Counol lor their approval. The Reverend Canon Andrew J W RO￿and TTUSte& Dated. ..Ig.f.041. ￿21¥ THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER INDEPENDENT EXAMINER'S REPORT TO THE CHARif( TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER I report lo the charity trustees on my examination of the financial statements of The Parochial Church Council ol The Ecdesiaslical Parish of Sl Cuthburga. Wmbome Minster Ilhe PCCI for the year ended 31 Oe¢ember 2023. Responsibllities and basis of report As the charity Iruslees of the PCC you are responsible for the weparation ol the financial statements in accordance with the fequiremenls of the Charities Act 2011 Ilhe 2011 Acal. I report In respect of my examination of the PCC'S financial statements carned out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Chanty Commission under section 14515llbl ol the 2011 Act Independent examinees statement Since the PCC'S gross Income exceeded £250.000 your examiner rnu5t be a member of a body Iisled In section 145 ol the 2011 Act I confim that l am qualthed to undertake the examination because l am a member of ICAEW, which is one of the listed bodies Your attention is drawn to the fact that the charty has prepared financial statements in acCorda￿e wlh Accoun11ng and Reporting by Chanlies prepanng their accounts in accortJan¢e wlh the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities. Slalement of Recornmended Practice issued on 1 April 2005 which 15 referred to In the extant regulations but has now been withdrawn. l understand that this has been done in order for financial statements lo provide a ITue and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. l confirm that no matter5 have come lo my attention in connection with the examination giving me Gause to believe that In any material respect". accounting records were nol kept In respect of the PCC as required by section 130 01 the 2011 Act.. or the financial slalement5 do not accord wth those records. or the financial statements do not Comply wth the applicable requirement5 conceming the form and content of accounls Set out In Ihe Chantses (Accounts ana Reporr51 Regulations 2008 other than any requirement that the accounts give a true and fair view which Is not a matter considered as part ol an independent examination. I have no concems and have ￿me auoss no other matters In connection wth the examination to which attention should be drawn in this Teport in order to enable a proper understanoing of the finanaal stslements to be reached. L.Ball FCA Hill Osborne Chartere(l Accountants Tower House Parkstone Road Poole BH15 2JH Dated.. 20(.o.s.1.kn. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Current financial year Unrestricted Unre5tricled Restrscted Endowinent funds funds funds funds general designated 2023 2023 Total Total 2023 2023 2023 2022 Notes Income and endowments from: Voluntary income 209,433 19 17.190.00 168.171.13 394,794 32 470.248.75 Activities for gener81ing funds Church activit￿S 1,080 00 54.198.32 4.568 51 5.648 51 4.752.45 54 198.32 35.090 89 Investments Other income 12.638 42 3.217 85 166.21 12.804 63 9,767 96 3.257 85 17,989.90 40.00 Total income and endowmènts 280.567 78 21.798 51 168.171.13 166.21 470.703 63 537,849 95 Expendlture on: Raising funds Church aclivib.es Other expenditure 729 84 250.737 41 729 84 233 41 467.418.14 505.683 76 4.956.20 38,801 45 177.879.28 13 Total expenditure 251.467.25 38,801.45 177.879 28 468 147.98 510,853.37 Net gainsll1055esl on investrnenls 14 27.995.30 527.08 28.522.38 137,417 981 Net in¢omellexp•ndlturel 29.100.53 117.002 941 18.287 15 693.29 31,078.03 110,421 401 Transfers between funds 870.00 9.296 73 110.000.521 1166211 Net movement In funds 29,970.53 (7,706 21> 8,286 63 527.08 31.078 03 110.421.401 Reconclllatlon of funds: Fund balances al 1 January 2023 112,020.91 27.548 06 453.081 16 22,881.86 815,531 99 625.953 39 Fund balances at 31 December 2023 141,991 44 19.841.85 461.367.79 23,408 94 646.610 02 615.531 99 The statement of financial activities Indudes all gains and k)sses recognised in the year. All income and expenditure derive from continuing activities. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Prior flnancial year Unrestricied Unrestricted funds funds general designated 2022 2022 Restricted Endowment funds funds Total 2022 2022 2022 Notes Income and ondowments from: Voluntary income hari Activities lor generating ftjnds Church activitie5 Investments Other income 197.976.59 15.000.00 257,272 16 470,248.75 1.080 00 32.963 55 8,031.89 2.002.50 3.672 45 535 00 4.752.45 35,090 89 9,767 96 17,989 90 1.592 34 1.570.78 16529 15.987.40 Total Income and endowments 242.054.53 35 194.85 260.435 28 165 29 537.849.95 Expenditure on: Raising funds Church activities Other expenditure 233 41 219.928.89 233.41 505 663.76 4,956.20 3.166 80 4.956.20 282.568 07 Total expendlturg 220.162.30 8.123 00 282.568 07 510.853.37 Net losses on investments 14 136,680 71) 1737.27) 137,417.981 Net incomellexpenditurel 21.892.23 27.071.85 158,813 501 1571 981 110,421.401 Transfers befv4een funds 9.413.80 15.669.22 13.579.291 1165 291 Net movement in funds 31.3C6 03 21.402 63 (62.392.791 1737.271 110,421.401 Reconcillatlon of funds.. Fund balances at 1 January 2022 80.714 88 6.145.43 515.473.95 23.619.13 625,953.39 Fund balances at 31 December 2022 112.020 91 27.548.06 453.061 16 22.881.86 615,531.99 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Notes Flxed assets Tangible assets Investments 16 17 14 891.27 327,629.55 17,519.14 299,107 17 342,520 82 318.626.31 Current assets Debtors Cash at bank and In hand 18 53.095 64 306.947.93 38 952.52 299,550.31 360.043 57 338,502 83 Credltors.. amounts falllng due wkthln one year 19 55.954 37 39.597.15 Net current a$sets 304.089 20 298,905.68 Total assets less current Ilabllltles 646.61002 615 531 99 The funds ofthe PCC Endowment funds ReslriGled income funds Unrestricted funds- general Unieslricled funds- ¢Jesignaled 20 22 23.408.94 461.367.79 141.991.44 19,841 85 22,881.86 453,081 16 112.020.91 27.548 06 21 646,610 02 615531 99 The fi ancial statem8nts were approved by the Parochi¥l Church Council on ..￿l0.lI.l..￿. The Revgrend Canon Andrew J W Rowland Trustee THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting polieiès Charity information The Paroch5al Church Council of The Ecclesiastical Parish of St Cuthburga. Wmtsorne Minster is a registered charity which operates under the Parochial Churd) Council Powers Measure 1.1 Accounting convention The financial statements have been prepared In accordance with the PCC'S goveming document, the Charities Ae, 2011 FRS 102 -The Financial Reporting Standard applicable In the UK and Republic ol Ireland" I"FRS 102,1 and the Charities SORP "Accounting and Reporting by Charities" Slalement ol Recommended Practice applicable to charities preparing their accounts In accordance with the Financ131 Reporting Standard applicable In Ihe UK and Republic ol Ireland IFRS 1021 (effective 1 January 20191 The PCC Is a Public Benefit En11ty as defined by FRS 102. The PCC has taken advantage of the provisions In the SORP lor charities not to prepare a Slalemenl of Cash Flows The financial statements have departed from the Chanties (Accounts and Reports) Regulations 2008 only to the extent required lo provide a true and lair view This departure has Involved following the Slalement ol Fiecommended Practice for charities applyiig FRS 102 rather than the veTsion of the Statement ol Recommended PTactice which Is referred •.0 In the Regulations bul which Mas since been witholrawn. The financial statements are prepared in sterfing. which Is the funcbonal currency ol the PCC The financ￿81 slalements have been prepared under the historical cost coD.venlion except for Investment asset5 which aTe shown at market value Ttr,e financial statements include all transactions. asse15 and Iiabililies for which the PCC 15 responsible In law They do not Include funds ol church groups that owe an affiliation to another body nor those that are Informal gatherings of church members 1.2 Going concern At the time of approving the financial statements. the charity trustee5 have a reasonable expectation that the PCC has adequate resources to continue In operational existence for the fttrès*èabl@ futurè Thus the charity Irusiees continue lo adopt the going concern basis of accounting In preparing the financial statements 1.3 Charitable funds Unreslncled funds are general ft5nds which can be used for PCC ordinary purposes. The purpose of any reslricled funds Is noted In the accounts Any tjalance unspent at the end ol the year must be carried foTh¥ard as a balance on that lund. Endowment fund5 are subject to specific condilions. the capital of wh1¢h musl be maintained by IhÈ PCC. Only Income arising from Investment of the endowment may be used as either restricted or unreslricl&a funds depending Upon the purpose for which the endowment wa5 established. 1.4 Incoming resources Voluntary incomè and capital sources Income Is recognised when the PCC Is legally entitSed to It after any performan￿ Gondilions have been mel. the amounts can be measured reliably. and Il 1s probable that Income will be received. Cash donations are recogn15ed on receipt Other donations are recognised once the PCC has been noblied ol the donation unless perfomiance conditions require deferTal of •he amount Income lax re¢overable In relation lo donations received under Gift Aid or eeeds of covenant is recogn15ed at the time ol the donation THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (Continued) Legacies are recognised on receipt or otherwise If the PCC has been nolilied of an Impending dislribulion. the amount Is known, and re￿ipt Is expected 11 the amount is not known, the legacy is treated as a contingent a5sel. Other ordlnary Income Rental income from Church Hotjse is accounted for by reference lo letting dale. Fees due are accounted for on an event by event basis. Car park rent is recognised on an acwals basis. 1.5 Resourc0$ oxpended Expenditure 15 recognised once there is a legal or constructive obligation to transfer economic benefit lo third party. Il Is probable that a transfer of economic benefits wll be required in settlement, and the amount tsf the obligation be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of dIr￿t costs and shared costs, including support costs involved in undertaking each activity. Direct costs attribulat4e to a single activity are allocated d1rectly lo that activity Shared costs which contnbute lo more than one athvity and support costs which are not attributable to a single 8Ctivity are apportioned between those activit￿S on a basi5 consistent with the use of resources. Central staff costs are allocAted Dn the basis of time spent. and depreciation charges are allocated on the portson of the asset's use Grantg and donations are accounted for when paid over. or when awarded. if that award C￿aleS a binding or constructive obligation on the PCC. The ttiocesan parish share is accoLJnted for when due. Amounts received specifically lor mission are deall wth as restricied funds All other expenditure is generally recognised when il Is incurred anrj accounted for gross. The PCC operates a defined conlribdlion pen&on scheme and contributions are charged against income on an accruals b8515 for the year in which they ale payable to the scheme. 1.6 Tangiblè fixèd assets Consecrated property and moveable church furnishings Consecrated and beneficed property Is excluded Irofn the accounts by s.1012llcl ol the Charities Act 2011. Moveable church lumishings held by the Reaor 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 Inspeded For inalienable propety acquired prior to 2001 there is Insufficient cost infomalion availabse and therefts￿ such assets are not valued In the accounts Items acqu1red after 1 sl January 2001 a￿ capilalised and depreciated In the accounts over their antiC1pated useful economie life. All expenditure incurred in the year on consecrated or beneficed buildings. Individual Items under £750 or on the repair of moveable church furnishings acquired belore 1st January 2001 Is wntten off. Other fixtures. fittings and equipment Equipment not considered to be Inalienable propety is capitalised and depreciated on a 150A ￿duCing balance basis per annum. Generally. items less than £750 are written off in the period of acquisition. The gain or loss arising on the disposal of art a5sel Is delemined as the differer*ce befvleen the sale proceeds and the carying value of the asset. and is rec¢yJnised in the statement of financial activities. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2023 A¢counting policies (Continued) 1.7 Flxed asset investments Fixed asset inveslmenis are initially measured at transaction price excluding transaction costs, and are subsequenlly measured at fa1r value at each reporting date. Changes In fair value are recognised in nel incomellexpendilurel for the year. Transaction c051s are expensed as Incurred. 1.8 Impalmienl of fixed a$sets Al each reporting end dale. the PCC reviews the Carrying amounts of its tangible assets to determine whether there Is any Indication that those assets have suffered an Impairnient loss. If any such indication exists, the recoverable amount of the asset is estimated in order lo delermir*e the exlenl of the impairment Ios5 lif any). 1.9 Cash and cash equivalents Cash and ¢ash equivalents include cash In hand. deposits held at call wth banks and other short-lem liquid inveslmenl5 W1th original matunlies ot three rnonths or less. 1.10 Finan¢ial instrum•nts The PCC ha5 elected lo apply the provisions ol Section 11 'Basi¢ Financial Instrument5 and Section 12 '0ther Financ5al Instruments Issues. of FRS 102 to all ol Its finanual Instrumenls. Financial instrLtments are recogni5ed in the PCC'S balance sheet when the PCC becomes party lo the Contractual prowsions of the instrument. Financial assets and liabilibes are offset, wth the nel amounts presented in the financ*al ststements. when there is a legally enforceable nght to set off the recogni5ed amounts and the￿ Is an intention lo settle on a nel basis or to realise the asset and settle Ihe Iiabslity simuttaneously. Basie financial assets Basic financial assets. which include deblors and cash and bank balances. are initially measured at transaction price Including transaction costs and are subsequently carried at amort15ed cost using th& effective Interest metho¢J unless the arrangement constitutes a finanong transaction. where the transaction is measured at the present valL5e of the future receipts discounted at a market rate of 1nterest Financial a$s¢t$ classified as reeeivable wlhin one year a￿ not amortised. Basic financial liabilities Ba51c financial Iiabililies. including creditors and bank loans a￿ Initially recognised al transaction price unless the arrangement constitutes a finanung transaction. where the éebt instrument is measured al the present value of the future payments discounted at a market rale of interest. Finanual liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost. using the effective interest rale method Trade credilors are obligaiions lo pay for goods or services that have been acquired In the Ordin￿ course ol operat10ns from supplier5. Amounts payable are classified as current Iiabililies If payment is due within one year or less. If not, they are presented as non ts> rD ￿ ts> Lno ts) O ￿￿)￿> o (n ts)- ooofyjo > ¢))¢5) 0 oo¢0 ¢5) 00) 00>0 (n oooNJ 00 Ix) o oN)o bJ (P a • uj O ￿0)ty) PJ oj tsj J O) ts sj 00 4¥ Cg 0￿0 00)0 0 ON> O c40￿j £ N) O LTf ooLJ UJ on tsj ¢D O o N) o O GJ ￿ O O) 171 O U) Ln ￿ ￿1 O- L4 NJ O )Uj>a0￿O¢￿O QJ ¢D O ￿00>0 ¢D O cn(nn ) W - ¢0 )00 h) ¢ £L O ¢5> ￿ o tsj l o) D tD L*OO OLno ) 0> ¢0 Ln 00)n rL Q4 rry ¢4 UJ £L Ln b> £L UJ ¢7) -91 itr££ sisoJ 6u!siEJpuni Jauio SIEaddp Jo i$0) pue diuspJEMèIS zo £zoz spunj spunj poiJiJis8Jun pè)gy)$wun spunj buisiEJ uo 8Jniipuadx3 06 696'L I otr 186 SL OS IQO. 58 L5I'£ oootr S9 L LI'£ Otr L96'g L 00 g>6'L osls Otr'L86'S L oo'o oootr ieAiisa4 JaM014 UEMO11E UEaa IEJn awwui snoauEllaJSI 00 gtr6'L 0515 00 ozz. 59 166 S8 L66 zoz zioz zzoz paipu61sap IpJaua6 spuni spunj pai?iJisaJun pei?iJis•Jun Iyoi £zoz £zoi rzoz PalEu6isap iejaugo spunj spunj pgiyiJi$aJun pèiJuisèJun wo)u! Jauio £ZOZ &138W3?30 1£ a3aN3 3HI YO (a3nNIINO?) SlN3W31VIS IVI)NVNla 3HI 01 S310N 131SNIW aN￿O￿￿11M'y9￿￿SH1nj Is 40 Hslklvd IVJIISVIS37??3 3HI ao 11?Nno? H?￿nHa IVIH?O¥Vd 3HI THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Expenditure on charitsble activities Church activities 2023 Church actlvitie8 2022 Dlrect costs Missionary and planned chantable giving Diocesan parish Share Clergy expenses Salaries and expenses15ee note 91 Heal. light and insurance Minor fabric, repairs and maintenance Service expenses Depreciab'on of equipment Sl Margarets Church House expenses Inote 121 Major fabric Telephone Postage, slalionery and photocopying Advertising Compijter and office equipment Bank charges Sundnes Repairs Professional Independent examiners fee Subscriptions. gifts and licences Family workeT iesources 1,787.00 110,992.18 3,457.94 107.928.91 54.319 05 43.788.81 15.275 28 2,627.87 1.268 96 107.759.40 739.75 84.718 06 38.881 79 17.044 43 11.463.86 3.091.61 169.38 9.140 57 182,600.76 3.314 41 9.662.28 282.90 3,613.90 911 74 2,131 83 240.80 22,426.52 2,994 00 1,028.02 2,17879 11.394 73 66.S53.21 2.996 31 12.354.30 82.80 3.712.44 785 00 7.882 10 11.918 12 2.994 00 2,883.08 3.585 01 467.418 14 505,663.78 Analysis by fund Unrestricted funds - general Unreslricled funds- designated Restricted funds 250,737.41 219,928.89 38.80145 3,166.80 177.879 28 282,568 07 467.418.14 505,663.76 Staff costs 2023 2022 Salaries and National Insurance conlnbulions Staff and choir expenses Pension ￿ntnOUtt0n5 96.341 75 7.873.73 3,713.43 71,18748 12,17034 1,360.24 107,928.91 84.718 06 17_ THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTH8URGA, WIMBORNE MINSTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 10 Charlty Trustees The PCC employed two Vergers on a job share basis. Organist & Director of the Choirs. Parish Secretary. Adminislralive Assistant. Financial Administrator and Families Worker. One Iruslee wa5 paid remuneration as a deputy organist. the total paid to the trustee was £1,156 12022.. £1.1931 One trustee receiv& remuneration as a ￿lie1 veT9er of £205 12022". £2151. There were no other disclosable transactions In respect of PCC membets. persons connected wth them or ￿lated parties. 11 Employè•s The average monthly number of employees dunng the year was.. 2023 Number 2022 Number 6.00 5.00 To comply with the Pensions Act 2008. the PCC fonnalised the Staff Pension Scheme using NEST (National Employment Savings Trust) as their workplace pengon scheme. There were no employees whose annual iemuneralion was more than £60.000. 12 Church House expenses 2023 2022 Healing and lighting Cleaning and laundry Vwdler rates Repairs. maintenance. replacement equipment and fvmishings Mi5cellaneou5 6.174 97 3.483 80 395.38 955.25 385 33 3,464 25 3.139 15 19186 2,004.70 340 61 11,394.73 9,140.57 13 Other expenditure Unrestricted Unrestricted funds funds (le$ignated designated 2023 2022 Flower Fests'val 4.956 20 4.956.20 18 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 14 Galns and losses on Investments Restricted Endowment funds funds 2023 2023 Totsl Restricted Endowment funds fund$ 2022 2022 Total 2023 2022 Gainslllossesl arising on.. Revaluation of Investments 27.995 30 527.08 28.522 38 136.680.711 1737 271 137.417.981 Realised gains and losses are recognised when Investments are sold Unrealised gains and losses are accounted for on revaluation of investments at 31 st December. 15 Taxation The charity is exempl from laxalion on ils activities because all Ils income Is applied for Charitable purposes 16 Tangible fixèd a55ets Equipment Cost Al 1 January 2023 68.860 08 Al 31 December 2023 68.860.08 Depreclatlon and Impairnient At 1 January 2023 Depreciation charged in the year 51.340 94 2.627 87 At 31 December 2023 53,968 81 Carrying amount At 31 December 2023 14,891.27 Al 31 December 2022 17,519 14 Fixed assets are capiialised in accordance wth the accounting policy explained in note 1 An adjustment lo reserve5 al 1 January 1996 of £9.850 was made on adoption of the policy lo capilJise equipment not Considered to be inalienable property. being the estimated value of such equipment at that dale. 19- THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DEGEMBER 2023 17 Flxed asset Investments Investments Cost or valuatlon Al 1 January 2023 Valualion changes 299.107.17 28.522.38 Al 31 December 2023 327,629 55 Carrying amount Al 31 December 2023 327,629.55 At 31 December 2022 299,107.17 2023 2022 Investments comprise.. Restricted funds mborne Minster Church Fund 11,347 CBF CE Investment Fund Income Units at market value 53,162 31 251,058.30 46.928.43 229,296 88 304.220 61 276,225 31 Endowment funds Malloc mborne Minster Church Fund Thè Minster Churchyard Fund 6.080.83 16.514.56 81355 5,553.75 16.514 56 81355 23.408 94 22,881 86 327.629 55 299,107.17 In the late 1980s Salisbury Diocese purchased the Curate's residence then al 8 Minster View lor an agre sum of £87.000." £35.000 was used to purchase 7.599 CBF Investment Fund units and £35,000 was Invested in the CBF Deposf( Fund. In 1995 £25,000 was transferred to purchase a further 3,748 IF units giving an historic cost of £60.000 for 11.347 compared wth the market value quoted above. The terms of the endowment funds ￿rnirt the PCC to use income from the Investments as unrestricted funds whilst the capital cannot be taken to income. -20- THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 18 Debtors 2023 2022 Amounts falling due wthin one year. Trade debtors Sundry debtors Gift aid recoveoble Prepaymen15 and accrued income 33,714.69 7,417.95 17,963 00 20.273 02 3.410.50 15.269 00 53.095 64 38,952 52 19 Crèditors: amounts falling due v￿thin one year 2023 2022 Other laxalion and S￿la1 $9curity Trade creditors Other creditors Accruals and deferred income 957.38 12.509.53 6.603.46 35.884 00 25,600.86 1,674 78 12,321 51 55.954.37 39,597 15 20 Endowment funds Endowmenl funds iepresenl assels which musl be held permanently by the PCC. Income ar1sing on the endowment Iijnds can be used in accordance with the objec15 of the PCC and is included as unreslricled income Any capital gains or losses ansng on the assets form part of the fund. At 1 January 2023 Incomlng resources Transfers Galns and 1055es At31 December 2023 Pemianent endowments 22.881 86 166.21 1166.211 527.08 23.408 94 Previous year- At 1 January 2022 ncoming resources Transfers Galns and los$es At31 December 2022 Permanent èndowments 23.619.13 165.29 1165.291 1737.271 22,881.88 21 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 21 Unrestricted funds - designated At 1 January 2023 Incoming resources Resources expended Transfers At31 December 2023 Flower Festival 2025 Church House and Aspects Lighting Faculty Dacombe navelthildren's fund Shop ftjnd Healing project Grand Plan 4000 40.00 564 39 12.361.98 5.996 04 3.625.65 1564.391 17.19000 122,640.001 6,911 98 5,996.04 3.893.83 3.000.00 4.568.51 14.300 331 3,000 00 114.861 121 5.000.00 9,861 12 27 $48 06 21.798.51 138.801 451 9,296.73 19.841 85 PrevSous year- At 1 January 2022 Incoming resources Resources expended Transfers At31 Decembor 2022 Flower Festival Church House and Aspe¢ts Lighting Faculty Dacombe navelchildren's fund Shop fund Environmental Project Grand Plan 15.987.40 535 00 12.000.00 14.956 201 111,031.201 29.39 564 39 12.36198 5.996.04 3.625.65 361.98 6.116.04 1120 001 148 801 13.000.001 3.672 45 3.000.00 5,000.00 5.000.00 6.14543 35.19485 {8,123.001 15.669 221 27.548 06 6.145.43 35.194 85 18,123.001 15.669.221 27.548 06 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 22 Restrfcted funds The restricted funds ol the charity ¢ompri5e the unexpended balances of donations and grants held on trust subject 10 5peafic conditions by donors as to how they may be used. Al 1 January 2023 Incoming resources Resources èxpended Transfers Gains and losses At31 Decembèr 2023 Fixed assets Church Estates Heal & Light Pilgiimage Wdlk Signage Preservation Trust Warrey Trust for homeless Governors flower fund Church Eslales Education Trust Barnes Trust for Music Training Library Children & young people Quinquennial report Verger Fund Family worker Church Fund CCLA Butcher Fund 8 Minster View Investment Fund Wimborne Minster Church Fund 10.232.39 11.534.861 8,697.53 10.397.61 40.000.00 146.215.891 4,18172 2.556 03 1421.431 2,134 60 30.000.00 19.861.121 20,138 88 2.500.00 1732.901 1,767 10 2.598 18 232.00 999.85 1.108.09 3,7Cé.27 192.601 13.585.011 1139.401 15.613.55 13,028 39 2.839.30 1,708.00 4,553.85 30.350 00 126.839 301 1510.001 12,271 001 6.350 00 1,198 00 5.228 49 294564 252986 300 00 2.829.86 15.264 56 7.000.00 81.444.22 45 403 85 32.450.00 138.857.501 132.953 301 123.865 491 21.81091 6,4%.70 57,578 73 1.000.00 1.000 00 1,000.00 1,000.00 229.296 88 21.761.42 251.058 30 46.928.43 6.233.88 53,162.31 453.081.16 168.171.13 1177.879 281 110.000 521 27.995.30 461.367 79 -23- THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 22 Restricted funds Icontinugdl Prevlous ygar.. At 1 January 2022 Incoming resources Resources expended Transfers Gains and losses At31 December 2022 Fixed a55e15 Church Estates Heal & Light Pilgrimage Walk Signage Preservalion Trust Warrey Trust for Homeles5 Churchyard Governors flower fund Church Eslales Educab'on Trust Bawes Trust for Music Training Library Children & Young People Oasis Qusnquennial report Family Worker Verger fund Organ fund Church Fund CCLA 8 Minster View Deposit Fund Butcher Fund Liberty Global Shares 8 Minster View Investment Fund WThmborne Minster Church Fund Lunch & chat 12,038.10 11.805.71} 10.232 39 329.20 33.928 25 123.859 841 10,39761 3.895.02 11.338.991 2,556 03 30.000.00 30,000.00 2.500.00 4,670.39 2.500.00 1.592.34 16.277.70) 14.97 1,227 18 1,371 00 9.434.74 377.19 2.598 18 232 00 999.85 19 202 741 15.030.321 5,652.98 9.410.91 2.188 00 2.344 19 13.200 00 119.771 611 1480 001 2.839 30 1.708 00 4.553 85 2,209.E6 2,334.94 117.00 300.00 1105.08) 2.529.86 1117.001 26.961 56 90,000 00 2.339 40 114.036 401 18 $55 781 20.000 113.000.001 174.111 92 1179.103.901 15,264.56 81.444 22 7,000.00 4,991.98 1,000 00 1.000.00 3.359.96 1,000.00 13.359 961 1,000.00 230 45 1230 45} 259,736.67 130.439 791 229,296.88 51.368.12 117.30 1.570.78 16,010.471 46.928.43 1117 301 515.473.95 260.435.28 1282.568.071 13.579 291 136,680.711 453.061.16 -24- Q> THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 24 Reserves policy The PCC'S policy Is lo maintain suftiuent reseNes lo enable the council's continued opeolion In the event ol the temporary loss of use of the Minster for any reason Wth particular reference to potential costs ol maintaining the fabric of the Minster. the Council considers that the reserves are adequate but not excessive. 25 Related party transactions il Governors of Wmbome Minster ill Wmbome Minster Preservation and Development Trust iiil The Association of Fnends of Wimbome Minster iv) Wimborne Minster Church Estate vl Wimborne Educational Trust vil Wimborne Minster Musical Hentage Trust The above are all Individually and separately constituted trusts. registered chaflties or associatsons which from lime lo lime provide monies by way of grants lo Wimbtsme Minster PCC for specified purposes As rel6vant during the year. these amounts are disdosed in note 3 to the a¢¢ounls 26 Other activities The following bodies afe supported by the PCC but do not fomi part of the finanaal slaternents. 2023 2022 Support to Minster Charities MARS Wimbome Foodbank 638.07 133.71 651 05 1,052 89 (Xher charltabl* payments Include the followlng: The Joseph Storehouse Trust OEC Ukraine l Ukraine Appeal Yambio & Sudan Medical 645.51 423.86 1.982 83 2.468.09 1,805.94