**Charity registration number 1138291** ## **ST ELISABETH'S PCC** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** ## **ST ELISABETH'S PCC** ## **LEGAL AND ADMINISTRATIVE INFORMATION** ## **PCC Members** |||| |---|---|---| |**PCC Members**|Mr Peter Adams|| ||Ms Elisabeth Prime|| ||Ms Susan Santos|| ||Mr Lee Cheetham|| ||Mrs Ann Harris|| ||Mr Colin Allcorn|| ||Dr Simon Eyre MA. FRCGP|| ||Mrs Sarah Goddard|| ||Mr Mark Fifield|| ||Ms Susan Fifield|| ||Rev David Harrigan|| ||Mr Ben Miles|(Appointed 30 April 2023)| ||Ms Jeannie Luck|(Appointed 30 April 2023)| ||Ms Julie West|(Appointed 30 April 2023)| ||Ms Rita Allcorn|(Appointed 30 April 2023)| |**Charity number**|1138291|| |**Principal address**|St Elisabeth's Centre|| ||268 Victoria Drive|| ||Eastbourne|| ||East Sussex|| ||BN20 8QX|| |**Independent examiner**|John Caladine FCCA CTA FCIE|| ||Caladine Limited|| ||Chantry House|| ||22 Upperton Road|| ||Eastbourne|| ||East Sussex|| ||BN21 1BF|| ## **ST ELISABETH'S PCC** ## **CONTENTS** ||**Page**| |---|---| |Council's report|1 - 2| |Independent examiner's report|3| |Statement of financial activities|4 - 5| |Balance sheet|6| |Notes to the financial statements|7 - 19| ## **ST ELISABETH'S PCC** ## **COUNCIL'S REPORT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ The PCC members present their annual report and financial statements for the year ended 31 December 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the PCC's Parochial Church Council Powers Measure (1956) as amended and the Church Representation Rules, 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 (FRS 102)" (effective 1 January 2019). ## **Objectives and activities** St Elisabeth’s PCC has the responsibility of supporting and working with the incumbent in promoting the ecclesiastical parish and the mission of the Church: pastoral, evangelistic, social and ecumenical. It also has maintenance responsibilities for St Elisabeth’s church building. ## _Public benefit_ The PCC members have paid due regard to guidance issued by the Charity Commission in deciding what activities the PCC should undertake. ## **Achievements and performance** ## _Significant activities and achievements against objectives_ The PCC, as the governing body of St Elisabeth’s, meets regularly throughout the year. This includes social gatherings in the summer and at Christmas which promotes a sense of trust, belonging and shared purpose. At each PCC meeting reports are received from Churchwardens, Centre Manager, Treasurer, Parish Safeguarding Officer and Vicar. These reports cover key areas as well as reporting on mission and activities within the church, more can be found about these activities in section 2 of this document. In April 2024 we celebrate two years since the Harrigan family’s arrival at St Elisabeth’s and Revd. David’s licensing. We are blessed both with David’s leadership and the whole family’s ministry within the church. The church and its community have of course changed over this time but with Revd. David’s approach of ‘slowly but surely’ we have seen restoration and blossoming within our faith community and a new sense of renewal in serving our Old Town community. Due to various reasons some members are no longer with us and we have seen the arrival of new sisters and brothers. Our mission is to grow the church, not necessarily in numbers (although that would be nice) but to grow in Christ as we seek to ‘make the church like home and home like the church’. St Elisabeth’s Church is used regularly throughout the week by those hiring the church space to provide services, clubs and leisure activities and is a key resource to the wider community. We thank Miz Wells, Centre Manager, for her dedication to increasing our profile and building good relationships with our hirers. The use of our church halls in this way is not only a source of income for the church but enables us to build wider networks and raises our profile as a church community. We are grateful and extend out thanks to all those people who willingly give their time and skills to help with the mission and outreach of the church: for those who officiate, our Reader, those who run and help with our children’s clubs, those who volunteer with hospitality and Foodbank. Those who help keep our church in good repair and to those members working behind the scenes planning and enabling the activities of our church family. ## **Financial review** Overall, the Church had a deficit of £1,429 (2022: surplus of £3,268). Total funds at the year end were £77,377 (2022: £84,588), of which £23,923 (2022: £25,352) was held in restricted funds and a further £5,349 (2022: 4,923) in Endowment funds. ## _Reserves policy_ Our PCC policy is to hold money in reserve for staffing and for unforeseen situations. This is held in general restricted funds. - 1 - ## **ST ELISABETH'S PCC** ## **COUNCIL'S REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **Structure, governance and management** The Parochial Church Council (PCC) is registered with the Charity Commission as required by the Charities Act 2011. Its governing document is the Parochial Church Councils (Powers) Measure 1956. Members of the PCC are either ex officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation rules. In 2022 the meeting was held on 24[th] April 2022. The PCC members who served during the year and up to the date of signature of the financial statements were: Ms Christine Swanborough-Nilson (Resigned 30 April 2023) Mr Peter Adams Mr Bill Fennell (Resigned 30 April 2023) Ms Elisabeth Prime Ms Susan Santos Mr Lee Cheetham Mrs Ann Harris Mr Colin Allcorn Dr Simon Eyre MA. FRCGP Mrs Sarah Goddard Mr Mark Fifield Ms Susan Fifield Rev David Harrigan Mr Ben Miles (Appointed 30 April 2023) Ms Jeannie Luck (Appointed 30 April 2023) Ms Julie West (Appointed 30 April 2023) Ms Rita Allcorn (Appointed 30 April 2023) ## _Recruitment and appointment of trustees_ Members are warmly encouraged to stand for election to the PCC and we try to ensure a balance of skills and experience where possible. The Council's report was approved by the Board of PCC Members. .............................. .............................. Mr Peter Adams Rev David Harrigan **PCC member PCC member** Date: ............................................. - 2 - ## **ST ELISABETH'S PCC** ## **INDEPENDENT EXAMINER'S REPORT TO THE PCC MEMBERS OF ST ELISABETH'S PCC** I report to the PCC members on my examination of the financial statements of St Elisabeth's PCC (the PCC) for the year ended 31 December 2023. ## **Responsibilities and basis of report** As the PCC members of the PCC you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the PCC’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for financial statements to provide a true 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. I confirm that no matters have come to my attention in connection with the examination 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 2011 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements 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 financial statements to be reached. ## **John Caladine FCCA CTA FCIE** Caladine Limited Chantry House 22 Upperton Road Eastbourne East Sussex BN21 1BF Dated: ......................... - 3 - ## **ST ELISABETH'S PCC** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**Current financial year**
**Unrestricted Unrestricted**
**Restricted Endowment**
**funds**
**funds**
**funds**
**funds**
**general**
**material**
**funds**
**2023**
**2023**
**2023**
**2023**
**Notes**
**£**
**£**
**£**
**£**
**Income from:**
Donations and legacies
**3**
63,595
785
547
-
Charitable activities
**4**
37,729
-
-
-
Investments
**5**
1,010
-
-
-
**Total income**
102,334
785
547
-
**Expenditure on:**
Raising funds
**6**
210
-
-
-
Charitable activities
**7**
108,918
199
1,976
-
Total expenditure
109,128
199
1,976
-
Net gains/(losses) on
investments
**12**
-
-
-
426
**Net income/(expenditure) and**
**movement in funds**
(6,794)
586
(1,429)
426
**Reconciliation of funds:**
Fund balances at 1 January 2023
17,861
36,452
25,352
4,923
**Fund balances at 31 December**
**2023**
11,067
37,038
23,923
5,349|**Total**
**2023**
**£**
64,927
37,729
1,010
103,666
210
111,093
111,303
426
(7,211)
84,588
77,377|**Total**
**2022**
**£**
78,510
36,580
420
115,510
188
111,724
111,912
(330)
3,268
81,320
84,588| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 4 - ## **ST ELISABETH'S PCC** ## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**Prior financial year**
**Unrestricted**
**Unrestricted**
**Restricted**
**Endowment**
**funds**
**funds**
**funds**
**funds**
**generalmaterial funds**
**2022**
**2022**
**2022**
**2022**
**Notes**
**£**
**£**
**£**
**£**
**Income from:**
Donations and legacies
**3**
66,909
11,601
-
-
Charitable activities
**4**
36,580
-
-
-
Investments
**5**
420
-
-
-
Total income
103,909
11,601
-
-
**Expenditure on:**
Raising funds
**6**
188
-
-
-
Charitable activities
**7**
109,029
857
1,838
-
**Total expenditure**
109,217
857
1,838
-
Net losses on investments
**12**
-
-
-
(330)
**Net income/(expenditure) and**
**movement in funds**
(5,308)
10,744
(1,838)
(330)
**Reconciliation of funds:**
Fund balances at 1 January 2022
23,169
25,708
27,190
5,253
**Fund balances at 31 December**
**2022**
17,861
36,452
25,352
4,923|**Total**
**2022**
**£**
78,510
36,580
420
115,510
188
111,724
111,912
(330)
3,268
81,320
84,588| |---|---| - 5 - ## **ST ELISABETH'S PCC** ## **BALANCE SHEET** ## _**AS AT 31 DECEMBER 2023**_ |**2023**
**Notes**
**£**
**Fixed assets**
Tangible assets
**14**
Investments
**15**
**Current assets**
Debtors
**16**
5,975
Cash at bank and in hand
67,166
73,141
**Creditors: amounts falling due within**
**one year**
**17**
(10,090)
Net current assets
**Total assets less current liabilities**
**Capital funds**
Endowment funds
**19**
Restricted funds
**20**
Unrestricted funds
Designated funds
**21**
29,177
General unrestricted funds
18,928|**£**
8,977
5,349
14,326
63,051
77,377
5,349
23,923
48,105
77,377|**2022**
**£**
4,435
74,002
78,437
(4,315)
36,452
17,861|**£**
5,543
4,923| |---|---|---|---| ||||10,466
74,122| ||||84,588| ||||4,923
25,352
54,313| ||||84,588| The financial statements were approved by the PCC Members on ......................... .............................. Mr Peter Adams **PCC member** .............................. Rev David Harrigan **PCC Member** - 6 - ## **ST ELISABETH'S PCC** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **1 Accounting policies** ## **Charity information** St Elisabeth's PCC is a charity governed by the Parochial Church Councils (Powers) Measure 1956. ## **1.1 Accounting convention** The financial statements have been prepared under the Church Accounting Regulations 2006, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 (FRS 102)" (effective 1 January 2019). The PCC is a Public Benefit Entity as defined by FRS 102. The PCC has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the PCC. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the PCC members have a reasonable expectation that the PCC has adequate resources to continue in operational existence for the foreseeable future. Thus the PCC members continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the PCC members in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the PCC. ## **1.4 Income** Income is recognised when the PCC is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. - 7 - ## **ST ELISABETH'S PCC** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **1 Accounting policies (Continued)** ## **Donations and legacies** Collections are recognised when received. Planned giving receivable is recognised when there is evidence of entitlement, receipt is probable, and the amount accords with the Gift Aid declaration or other record of intention to donate. Gift aid recovered is recognised when the income to which it is attached is recognised. Grants and legacies are recognised when the formal offer in writing of the funding, is received by the PCC. ## **Charitable activities** Sales of magazines and study notes are recognised when received. Rents from property are recognised in accordance with the rental agreements, when receipt is probable. ## **Other trading activities** Trading activities are where income is receivable in return for selling goods or providing services. Income from trading is recognised either: a - when received, or b - in the case of room hire charges, when the hire has taken place and receipt is probable or c - in the case of concerts: for the year in question, irrespective of date of receipt Advance receipts for both concerts and room hire are included in creditors until the concerts or hiring has taken place. ## **Investment income** Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue. ## **1.5 Expenditure** Expenditure is accounted for on an accruals basis and accounted for gross. ## **Grants** Grants and donations are accounted for when paid over, or when awarded where the award creates a binding obligation on the PCC. ## **Church Activities** The diocesan parish contribution is accounted for on an annual basis, reflecting the allocation set by our Deanery. Any parish contribution 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. ## **1.6 Tangible fixed assets** Consecrated and beneficed property of any kind is excluded from the accounts by s.10(2) of the Charities Act 2011. Movable church furnishing held by the Vicar and Churchwardens on special trust for the PCC and which require a faculty for disposal, are accounted as inalienable property unless consecrated. They are listed in the church's inventory which can be inspected but are not included in the financial statements. For other property acquired prior to 1 January 2003, there is insufficient cost information available and therefore the cost of such assets is not stated in the financial statements. All expenditure on consecrated or beneficed buildings and individual items costing under £1,000 are written off in the year they were incurred. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis: Fixtures and fittings 25% - 8 - ## **ST ELISABETH'S PCC** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **1 Accounting policies (Continued)** No depreciation is provided on freehold property as it is the PCC's policy to maintain these assets in a continual state of sound repair. The useful economic life of these assets is so long and residual values so high that any depreciation would not be material. These assets will be subject to annual impairment reviews. Provision will be made if there has been any permanent diminution in value. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## **1.7 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. ## **1.8 Impairment of fixed assets** At each reporting end date, the PCC reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.9 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.10 Financial instruments** The PCC has elected to apply the provisions of Section 11 ‘Basic Financial Instruments of FRS 102 to all of its financial instruments. Financial instruments are recognised in the PCC's balance sheet when the PCC becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. - 9 - ## **ST ELISABETH'S PCC** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **1 Accounting policies (Continued)** ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the PCC’s contractual obligations expire or are discharged or cancelled. ## **1.11 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the PCC is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **2 Critical accounting estimates and judgements** In the application of the PCC’s accounting policies, the PCC members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. - 10 - ## **ST ELISABETH'S PCC** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **3 Income from donations and legacies** |**Unrestricted Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general**
**material**
**funds**
**2023**
**2023**
**2023**
**£**
**£**
**£**
Donations and gifts
63,595
785
547
**Donations and gifts**
Planned giving (excl tax refunds)
39,755
-
-
Collections at all services
11,261
239
87
Sundry donations and appeals
-
-
-
Gift Aid recoverable
11,026
-
-
Other funds generated
394
546
460
Legacies
-
-
-
Grants
165
-
-
Other income
994
-
-
63,595
785
547|**Total**
**Unrestricted Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general**
**material**
**funds**
**2023**
**2022**
**2022**
**2022**
**£**
**£**
**£**
**£**
64,927
66,909
11,601
-
39,755
38,351
-
-
11,587
8,946
-
-
-
3,591
1,601
-
11,026
9,974
-
-
1,400
547
-
-
-
2,500
5,000
-
165
3,000
5,000
-
994
-
-
-
64,927
66,909
11,601
-|**Total**
**2022**
**£**
78,510| |---|---|---| |||38,351
8,946
5,192
9,974
547
7,500
8,000
-| |||78,510| - 11 - ## **ST ELISABETH'S PCC** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **4 Income from charitable activities** |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2023**|**2022**| |||**£**|**£**| ||**Charitable activities**||| ||Rummage sales|2,801|744| ||Fees for weddings, funerals etc|36|560| ||Church hall hire|34,892|35,276| |||37,729|36,580| |**5**|**Income from investments**||| |||**Unrestricted**|**Unrestricted**| |||**funds**|**funds**| |||**2023**|**2022**| |||**£**|**£**| ||Interest receivable|1,010|420| |**6**|**Expenditure on raising funds**||| |||**Unrestricted**|**Unrestricted**| |||**funds**|**funds**| |||**2023**|**2022**| |||**£**|**£**| ||**Fundraising and publicity**||| ||Costs of fetes and other events|-|178| ||Other fundraising costs|210|10| |||210|188| - 12 - ## **ST ELISABETH'S PCC** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **7 Expenditure on charitable activities** ||**Charitable**|Charitable| |---|---|---| ||**activities**|activities| ||**2023**|2022| ||**£**|**£**| |**Direct costs**||| |Staff costs|5,136|9,515| |Depreciation and impairment|4,426|2,913| |Diocesan Parish Contribution|59,735|69,419| |Other clergy costs|7,809|6,149| |Church running and maintenance|21,498|20,612| |Telecoms and internet costs|1,885|1,155| |Waste disposal|726|630| |Major church repairs|7,410|-| ||108,625|110,393| |Grant funding of activities (see note 8)|128|191| |**Share of support and governance costs (see note 9)**||| |Governance|2,340|1,140| ||111,093|111,724| |**Analysis by fund**||| |Unrestricted funds - general|108,918|109,029| |Unrestricted funds - material funds|199|857| |Restricted funds|1,976|1,838| ||111,093|111,724| ## **8 Grants payable** ||**Charitable**|Charitable| |---|---|---| ||**activities**|activities| ||**2023**|2022| ||**£**|£| |Grants to institutions:||| |Other|128|191| - 13 - ## **ST ELISABETH'S PCC** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **9 Support costs allocated to activities** |**Charitable**
**activities**
**2023**
**£**
Governance
2,340
**2023**
**Governance costs comprise:**
**£**
Accountancy
1,500
Bookkeeping and payroll
840
2,340|**Total**
**2022**
**£**
1,140| |---|---| ||**2022**
**£**
1,140
-| ||1,140| Governance costs above includes payments to the Independent Examiner of £600 (2022: £600) for Independent Examination work and £1,084 (2022: £540) for other services. ## **10 PCC Members** The Vicar, Rev D Harrigan is employed by the Diocese. St Elisabeth's provide him with a vicarage, in order to fulfil his duties. None of the other PCC members (or any persons connected with them) received any remuneration or benefits from the PCC during the year. During the year 2 trustee and their related parties were reimbursed a total of £342 for costs incurred on behalf of the Church. Total donations from the trustees, and their related parties, amounted to £21,709. This doesn't include donations given into cash collections where the individual donors are not identifiable. ## **11 Employees** The average monthly number of employees during the year was: ||**2023**|**2022**| |---|---|---| ||**Number**|**Number**| ||1|1| |**Employment costs**|**2023**|**2022**| ||**£**|**£**| |Wages and salaries|5,136|9,515| There were no employees whose annual remuneration was more than £60,000. - 14 - ## **ST ELISABETH'S PCC** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **12 Gains and losses on investments** ||**Endowment**|**Endowment**| |---|---|---| ||**funds**|**funds**| ||**2023**|**2022**| |Gains/(losses) arising on:|**£**|**£**| |Revaluation of investments|426|(330)| ## **13 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. ## **14 Tangible fixed assets** |**Tangible fixed assets**|| |---|---| ||**Fixtures and**| ||**fittings**| ||**£**| |**Cost**|| |At 1 January 2023|72,690| |Additions|7,860| |At 31 December 2023|80,550| |**Depreciation and impairment**|| |At 1 January 2023|67,147| |Depreciation charged in the year|4,426| |At 31 December 2023|71,573| |**Carrying amount**|| |At 31 December 2023|8,977| |At 31 December 2022|5,543| ## **15 Fixed asset investments** ||**Unlisted**| |---|---| ||**investments**| ||**£**| |**Cost or valuation**|| |At 1 January 2023|4,923| |Valuation changes|426| |At 31 December 2023|5,349| |**Carrying amount**|| |At 31 December 2023|5,349| |At 31 December 2022|4,923| - 15 - ## **ST ELISABETH'S PCC** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **16 Debtors** |**Debtors**||| |---|---|---| |**Amounts falling due within one year:**
Trade debtors
Other debtors|**2023**
**£**
2,667
3,308
5,975|**2022**
**£**
2,620
1,815| |||4,435| ## **17 Creditors: amounts falling due within one year** |Trade creditors
Accruals and deferred income|**2023**
**£**
8,590
1,500
10,090|**2022**
**£**
3,175
1,140| |---|---|---| |||4,315| ## **18 Retirement benefit schemes** The PCC operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the PCC in an independently administered fund. ## **19 Endowment funds** Endowment funds represent assets which must be held permanently by the PCC. Income arising on the endowment funds can be used in accordance with the objects of the PCC and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund. ||**At 1 January**|**Gains and**|**At 31**| |---|---|---|---| ||**2023**|**losses**|**December**| ||||**2023**| ||**£**|**£**|**£**| |**Permanent endowments**|||| |Eliza Watson|1,681|147|1,828| |Clarke Graveyard|2,562|241|2,803| |Watson Graveyard|680|38|718| ||4,923|426|5,349| - 16 - ## **ST ELISABETH'S PCC** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **19 Endowment funds (Continued)** |**Previous year:**||||**At 1 January**|**At 1 January**|**Gains and**||**At 31**| |---|---|---|---|---|---|---|---|---| ||||||**2022**|**losses**||**December**| |||||||||**2022**| ||||||**£**|**£**||**£**| |**Permanent endowments**||||||||| |Eliza Watson|||||1,564|117||1,681| |Clarke Graveyard|||||785|(105)||680| |Watson Graveyard|||||2,904|(342)||2,562| ||||||5,253|(330)||4,923| |**Restricted funds**||||||||| |The restricted funds of the|charity comprise the unexpended balances of donations and grants|||||||held on trust| |subject to specific conditions by donors as to how they may be used.||||||||| ||||||**Movement**|**in funds**||| ||**Balance at**|**Resources**||**Balance at**|**Incoming**|**Resources**||**Balance at**| ||**1 January 2022**|**expended**|**1 January 2023**||**resources**|**expended**||**31 December**| |||||||||**2023**| ||**£**|**£**||**£**|**£**||**£**|**£**| |Chalk Cliff Trust|2,954|-||2,954|-||-|2,954| |Music|223|-||223|-||-|223| |Upstairs kitchen and toilet|629|-||629|-||-|629| |eBay|6,125|-||6,125|-||-|6,125| |Garden fund|351|-||351|-||-|351| |Arts fund|10,942|-||10,942|-||-|10,942| |Children fund|158|-||158|253|(138)||273| |Charity Contact Centre|18|-||18|-||-|18| |Totz equipment|277|-||277|50||-|327| |Capital equipment -||||||||| |depreciated assets|5,513|(1,838)||3,675|-|(1,838)||1,837| |Box - Boxing Club|-|-||-|244||-|244| ||27,190|(1,838)||25,352|547|(1,976)||23,923| ## **20 Restricted funds** The Restricted funds of the charity contain various amounts which have been given for specific purposes; some of which go back many years. The trustees are monitoring these balances. The Capital Equipment Fund represents specific assets over which conditions were placed. The fund absorbs the depreciation on these assets each year. The Boxing Club fund contains monies in relation to our new youth project. - 17 - ## **ST ELISABETH'S PCC** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **21 Designated funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. |||||**Movement in funds**|**Movement in funds**|**Movement in funds**|**Movement in funds**||||**Movement in funds**|**Movement in funds**|**Movement in funds**|| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**Balance at**||||**Incoming**||
**Resources**|||**Balance at**||**Incoming**||**Resources**|**Balance at**| |**1 January**|||**2022**|**resources**||**expended**||**1**|**January 2023**||**resources**||**expended**|**31 December**| |||||||||||||||**2023**| ||||**£**||**£**||**£**|||**£**||**£**|**£**|**£**| |Legacy AH||20,728||5,000|||(734)||24,994|||-|(7,860)|17,134| |Club 1|||447||-||-|||447||-|-|447| |Community||||||||||||||| |Support|||-|6,000|||-|||6,000||197|(80)|6,117| |Messy||||||||||||||| |Church|||-||-||(123)|||(123)||44|(104)|(183)| |School||||||||||||||| |lunches||2,340|||-||-|||2,340||-|-|2,340| |Vicar's||||||||||||||| |discretionary|||404||-||-|||404||-|-|404| |Flowers|||10||21||-|||31||32|-|63| |Windows||1,086|||-||-|||1,086||-|-|1,086| |Totz|||693||580||-|||1,273||511|(15)|1,769| |||25,708||11,601|||(857)||36,452|||784|(8,059)|29,177| |**Analysis of net assets between funds**||||||||||||||| |||||**Unrestricted**|||**Unrestricted**|||**Restricted**||**Endowment**||**Total**| |||||||**funds**|||**funds**||**funds**||**funds**|| ||||||**generalmaterial funds**|||||||||| |||||||**2023**|||**2023**||**2023**||**2023**|**2023**| |||||||**£**|||**£**||**£**||**£**|**£**| |**Fund balances at**|**31 December 2023 are**|||||||||||||| |**represented by:**||||||||||||||| |Tangible assets||||||7,140|||-||1,837||-|8,977| |Investments||||||-|||-||-||5,349|5,349| |Current assets/(liabilities)||||||3,927|||37,038||22,086||-|63,051| ||||||11,067||||37,038||23,923||5,349|77,377| ## **22 Analysis of net assets between funds** - 18 - ## **ST ELISABETH'S PCC** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **22 Analysis of net assets between funds (Continued)** |**Unrestricted**
**Unrestricted**
**Restricted**
**Endowment**
**funds**
**funds**
**funds**
**funds**
**generalmaterial funds**
**2022**
**2022**
**2022**
**2022**
**£**
**£**
**£**
**£**
**Fund balances at 31 December 2022 are**
**represented by:**
Tangible assets
5,543
-
-
-
Investments
-
-
-
4,923
Current assets/(liabilities)
12,318
36,452
25,352
-
17,861
36,452
25,352
4,923|**Total**
**2022**
**£**
5,543
4,923
74,122| |---|---| ||84,588| - 19 -