Parish of Merstham PCC report and financial statements 11 for theyear ended 31 December 2022 e Parochlal Church Council of the Eccle5iaStical Parish of Merstham Charity No. 1139490
CONTENTS Page PCC report Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the financial statements 10-19
Parish of Merstham Annuol Reportforyet7rended31 December2022 (i) PCC report The members of the PCC present their annual rew)rt and financial statements of the Parish of Merstham for the year ended 31 December 2022. The financial ststements have been prepared in accordance with the accounting policies set out in Not¢ I to the accounts and comply with the governing duMentS Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordanc¢ with the Financial Reporting Standard applicable in th¢ UK and Republic of Ireland (FRS 102). Objectives and Activities The primary object of the PCC is to promote the Gospel of the IA)rd Jesus Christ according to the doctrines and practices of the Church of England. The PCC is tssked with operntlng with the minister to promote the whole mission of the Church" pastoral. evan8¢listi¢, social and ecumenical within the Parish. As a Parish Church within the Church of England's Diocese of SouthwArk. Si Katharine's Church exists for the benefit of the wider communÉty as well as for those who fonn part of the week-by-week worshipping community. With this in rnind our activities have bcen a combination of those for the worshipping communtty IOBether with others aimed at the wider community through pastoral ¢are. or missionary and outreach. In ord¢r to accomplish thcsc objectives. it is imrK)rtant that we mainlain the fabric of the church buildings. The members of the PCC have complied with thc duty in Section 4 of the 2006 Charities Act io have due regard to guidance published by Ihe Charity Commission, including public benefit guidance. The Parish The parish of Merstham is in the Diocese of SouthwATk and is within Rei8ate Deanery. The parish is part of the Merstham and Gatton Team Ministy under the ternis of a P&%toral S¢h¢rne pursuant to the P&stornl Measure 1983 made by the Church Commissioners on 29 March 2010 and which came into effect on l April 2010. Following th¢ closure of th¢ Church of the Epiphany in January 2015. th¢ parish has only one place of worship.. the Parish Church is St Katharine, on Church Hill, Merstham. RHI 3BJ. Merstham & Gatton Team Ministry is Composed of the parishes of Merstham (St Katharine). Gatton (Si Andrew), and South Merstham (All Saints). There is 8 Team Council which has rePSentativeS from the three parishes. il meets up to four times per year and reports ba¢k io the Tespective PCCS. 2022 Cler&v• Readers and Cburehwardens: Team Reetor Revd Mark Pullinger The Rectory, Battlebridge Lane, Merstham, RHI 3LH Revd Pullinger left ihe Team th ihe endofociober. reiiring lo ihe Isle of Wigh¢ Honorary Curate R¢vd Val Williams Merstham IA)d8e. Harps Oak Lane, Merstham, RH13AN Revd Williamspassedawoy in Oaober R¢adcrs Mrs Kirsty Anderson (Mrs AlrSOn movedio live in.Ycafland in Sepiember) Mrs Christiana Agwuegbo ChurchwardeDS Mrs Kirsty Anderson (resignedat the 2022 APCAI) Mr Simon Beirne Mr Chris Green the 2022 APCM)
Parish of Merstham Annuol Reportfor yeorended 31 December2022 {2) Achievements and Performance Worship and prayer Within the parish the PCC aims to off¢r a variety of services during ihe week and throughout the year to Cater for different groups within the community. These rdngc from organised services such as our regular Sunday w0h]p, including l.loly Communion. to less forn)al and less structured me¢tin8s such as study groups and prayer meetings. 1.he Parish provides a range of regular and extrn festival and se&8onal services ovw the course of the year that our ommunity has found trrf)th beneficial and spirityally fulfillin& ond regularly provides hospitality for special Team Services. Regular Service Palt¢rn Following the departure of Revd Ben Brown in September 2021, the usual sen4iC¢ Pottern changed. The fit3t Sunday would be Morning Worship. nornially led by one of our Readers. the second Sunday would sometimes be a ¢ommunion service led by Revd Williams. if she were well enough to attend and lead the service (she had been suffering from Motor Neurone Disease for some time). otherwise Morning Worship. On the third Sunday Revd Mark Pullinger would come to St Katharine and delivera communion service. The Sunday in the Iiionth was a Tearn g¢rvice at All Saints. In those months with five Sundays, the fourth Sunday would again be a service of Mornin8 Worship. This service pattern h&5 needed io change followin8 the departure of our Reader Kirsty Anderson, the death of Revd Williams and thc rctir¢m¢nt of Revd Pullinger l¢avin8 the parish with only one Reader. Services arc currently being led by the congregation outside of the times when the Reader, or visiting clergy. can officiate. Oeeasional Offices During 2022, two baptisms and three weddings were celebrated in ihe church. Two funeral services were held in the church, AludIng of Val Williams in (k¢ober' and twelve crem8tions for residenls of the parish took place at local Crematoria. Electorv41 Roll and Church Attendance Report In December 2022 theTe were 36 electoral members on the roll. The Electoral Roll will next be due for revision in April 2023. Pvdstoral C2re Th¢ Mer5tham Estate is an area where there are extensive plan5 for regeneralion. and it is deemed a 'priority area. by Surrey County Council due lo Icvcls of depriv8tion in p(xkets of the estate. The Team Ministry and the PCC continue to engage with both Surrey and R¢i8ate and Banstead Councils and the Diocese with regard to the plaiis for further development in the area. The Pastoral Ministy Group ha5 ceased to meet with the departure of Revd Pullinger. St Katharine's Church R(K)m is us¢d for various activities. including PCC meetings The Church Room is also booked by non-church groups, both for occ&sional events and regular weekly hires. After-service coffee on Sundays is nornally provided within th¢ church &$ it is felt more inclusive. The walk to the chUh Room. whilst not long, has always created a separdtion for the wngregation. The Women's Support Group is a closed group, now in its twenty-fourth year. It nornlally meets on Thursday mornings at All Saints, South Merstham. The group is led by a member of St Katharine's congregation who is a relired Occupational Therapist who worked in mental health. The group provides opportunities to discuss personal issues in a confidential and mutually suptthive environment and to develop self-awar¢ness.
Parish of Merstham Annuol Reportfvryeor ended 31 December2022 (3) Safeguarding Report The church implement5 the "Safe Church. DI(¢$an policy. A copy of the wTrlicy is displayed in the church porch and a copy is also kept in the vestry. Regular updates are inserted into the policy and where appropriate mernbers of the PCC are strongly encourdged to attend the Safeguarding and Vulnerable adults training provided by the Dio¢¢s¢. Regular newsletters are sha)rd with PCC and Junior church leaders. All DBS checks are up to date or being renewed. We are grateful for the work of Mr Simon Beirne and Mrs Maggie Kippen, our Safeguarding officers who generously share their overview with St Andrew, Gatton. Mission and Outreach 'I'he 'feam Ministy endeavours to provide infomiation and communication to parishioners and the general publi by several means. Thc Messenger. the parish magazine for Merstham and Gatton. is produc¢d monthly online, with a v¢ry few paper copies distributed to those unable to access the intern¢t. It contains infornlation reganling chur¢h-associated events held within the Team Ministry. together with general local services and charitylaltrntive events held within thc wider community. The website for the T¢am Ministy is at www.m8knchurches.org.uk and provides delails of church servi¢¢s and activities as well as infomiation ab)ut weddings marriages and funerals aT)d how to make contsct with parish staff. Inforniation is also displayed on notice boaTds at the church and published in a weekly news-$h¢et, The once-regular Quality Street Fair. and St Katharine's Supper in the Church Room, were reinstated in 2022. Quality Street Fair has now become a predominantly comrnunity-l¢d. rather than church-led, evenl, and in 2022 Ihe dale was moved from July to September. Ecumenieal relationships The churches continue to be involved in ecurnenical a¢tivitie5 a5 part of the Churches Togelher in Mersiham group and would usually hold joint aclivili¢q such as the World Day of Prayer. l£nt Groups and Leni l.unches, Good Friday Walk of Withess. and Carol singing at Christm&s. Some of thes¢ have still not resumed post-covid. However, the weekly e¢um¢nirAI prnyer meeting has been able to continu4 on¢e again in person, at the Community Hub. FAbric Amongst other duties. the PCC i.s spOnSible for the maintenance of our buildings, which include the histori¢ church of St Katharine (Merstham Parish Chureh) arml St Katharine's chUh Room. The l&st Quinquennial InspeLtion was carried out in March 2018 by Thomas Ford & Partners. The architect's conclusion was that the church was well looked after by the PCC and significant repairs had been undertaken in the last ten years; although a number of repair issues remain these do not reflect poor care or rnanag¢m¢nt on the part of the Parish. Fundraising events Thc only fundraising event held in 2022 was Quality Street Fair (see aknve). The PCC are grateful for the 8¢n¢rous donations by congregation and non-congregation members which are not tied to specific fundraising events. The Deanery Synod The Deanery Synod 15 the link between th¢ parishes and the Di(Kese. Merstham Parish is part of Reigate Deanery SyniKI and is represented by Jill Ciunn and Judith Hanson. Thc Synod not only provides a link with the governance Structures of the Church of England in the Dioccsc and natsonally but also provides a link for the PCC to rais¢ matters at a Deanery level and p)lentially higher.
Parish of Merstham Annuql ReportJoryear ended 31 December2022 (4) Financial Review The net mov¢m¢nt in funds across 2022 w&s a reduction ofjust under £31k. This was driven by three significant movements. Firstly, the PCC continued to pursue ihe building of an extension to St Katharine's to include a meetin8 room. kitchen and toilS OD Site. This has E*en a long terni aim and whilst no decision was fornially taken in 2022 c£74k of expendire was incurred on professional fees and pre-building work. A d¢¢ision has been taken by the PCC in 2023, tKyst the 2022 Balance Sheet date. to contract for the building work to be und¢rtaken in 2023. Sccondly, there was a large reduction in the value of investments held by the PCC of c£69k. This r¢flected the valu¢ of the Church of F.ngland Investment Fund. Thirdly. a large one-off donation of £1 Ook was received from a donor who wishes lo remain anonymous. Excluding the large movemenls in funds above. the remainder of the funds show a surplus of ¢£12k of income over expendilure including our Parish Pledge of £24k being paid in full. Reserves Policy It is the policy of th¢ PCC io seek to maintsin oJJequate, but not excessiv¢. reserves which arc to be used for the specific purwses for which they a identified. Cash not anticipated to 4)ent in the short term is invested with the CBF Chur¢h of England Deposit Fund. Plans for the Future Although work to demolish th¢ Victorian vestries on th¢ north side of the churrh. and rep18ce them with &n extension which will incorporate a new vestry, meeting ar¢a and toilets, was expe¢t¢d to start 81 Easter furthcr delays in a¢quirin8 the necessary perniissions delayed the projecl until 2023. One side-effe¢l of thi5 delay has been that prices have incr¢as¢d wnsidernbly over the ori8inal estimate. It is now expected that work will commet)cc early in March 2023 following the aLbthorisalion by ihe PCC to contract for the work. The PCC aims to recruit and appoint a new ReCr in 2023 following Mark Pullin8¢r's retirement. Other Information There have b¢en no transactions between the PCC and related p8rties (as defined by the Charities Act 2011 and the Charities SORP) nor has the PCC identified any major risks (other than the availability of continued fundin a topic of continued consideration by the PCC) which impact the work of th¢ Church in the Parish. A significant change during the year has been the departure of the Team Rector. Revd Mark Pulling¢r. The PCC will look to fill ihe vacancy but there are at le&8t six other parishe5 within the Deanery in a similar position, so this situation is likely to continu¢ for some time. If and when a new Team Rector is appointed, we are unlikely to have the Ixncfit of any other clergy. Structure, Governance and Management Governing Documents The Governing DocuTnents relating to the operdtion of the PCC ar¢.. The Parochial Church Councils (Powers) Measure 1956 as amended The Church Representation Rules (contained in Schedule 3 to the Synodic&l Government Measure 1969 as amended with the 2009 Ststutory Instrumeni and the 2009 upjate to the Code of R0MMended Practice to the Pastordl Me&sure 1983) Membership of the PCC The Parochial Church Council (PCC) is a corw)rate IY esthblished by the Church of England. Member5 of the PCC, who also Tru5tee5 for the purwses of charity law. are etther elected by the Annual Parochial Church Meeting in strict accordance with the chUh Representation Rules or rve as ex officio members. The PCC can also exercise its right to c(wpt rncmbers as it deems fit. During the year the Council receivtyj regular reports on the following topics, amongst other matt¢rs.' Finance Team Council Fabric and Churchyard Mission and Outreach projects Deanery Synod Safe Church Policy The PCC usually meets each alternate month. txwing 2022 severnl meetings were held online via Zwm.
Parish of Merstham AnnuolReportAoryeor ended31 December 2022 (5) PCC membership following the 2022 APCM Er OffKio Members: Revd P Mark Pullinger Mrs Kitsty Anderson Mrs Christiana Agwuegbo Mr Simon Beirne Mr Chris Green Mrs Jill Gunn Mrs Judith Hanson Team Rtor (to October 2022) Reader (io September 2022) Reader Churchwarden (from April 2016) Churchwarden (from May 2022) tkanery Synod Representstive Dean¢ry Synod Reprcscntative Elected Members: Mr Daniel Hopcroft Mrs Libby Green Mr John Turner (from 2018) (from 2020) (from 2020) (from 2021) Mrs Glynis B¢azley (from 2022) The following left the PCC during th¢ year. Revd Mark Pullinger moved io the Isle of Wight Mrs Kirsty Anderson moved to Scotland Since the departure of Revd Pulling¢r. PCC meetings have been chaired by Simon Beirne, the Deputy Chair. Mr Robert Prentice PCC Secretary Mrs Ann Beirne 28 Har¢stone Hill, Caterham, Surrey, CR3 6DG Independent Fxaminer Alison Sargent FCA Sargent & Co. 219 Croydon Road, Catcrharn, SuTrey, CR3 6PH Bankers The Central Board of Finance of the Church of England: Cheapside, Lmdon. EC2Y 5AQ Charities Aid Foundation Natwest Bank Ltd.: Station Road. R¢dhill, RH I IQN Correspondencc All correspondence should be sent to the PCC Secretary: 28 Harestone Hill, Catetham. Surrey, CR3 6DG Registered Charity Number The Parochial Chur¢h Council ofthe Ec¢lesiastical Parish of Merstham IMersth8m PCC) is a charsty registsred with the Charity Commission under re8istration numkr 1139490. Safeguarding Offieerg Mrs Margaret Kippen. Mr Simon Beirne Standing Committee The Standing Committee 15 the only committee required by law. It exists to transact the business of the PCC between meetings and may constrnct the agenda for meetings of the PCC.
Parish of Merstham AnnuolReportforyeorended 31 December2022 {6) Team Council This was set up at the creation of the Team Ministry. It consists of the clergy. churchwardens and secretsries from across tht churches. Durin8 2022 it has not Tnct. Its purpose is to share news and sustain an overview of Team life. help determine what activities may be achieved better across the lea (e.g.various training). and support one another particularly in the mission and outreach of the Team churches. Other Sub-committees An 'Extension sub-group. was formed to oversee the prowrss of the Extension proj with a mandate to report and to bring points of decision to the PCC. Statement of Parochial Church Council Responsibilities Charity LAW requires the Parochial Church Council to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Church and of ils financial activities for that peri(xl. In pr¢parin¥ those financial ststrments the Parochial ChUh Council is required to: select suitable aco)untin8 policies and then apply them ¢onsistently' observe the methods and principles in the applicable Charities SORP. mak¢ judgements and estimates ihot are re&son8ble and prudenL stale wh¢ther applieablc accounting standords have been followed, subject to any material departures that must b¢ disclosed and explained in the financial statements. prepare the financial st8iements on an ongoing concern basis unless it is inappropriate to presume that the church will continue in business. The Parochial Church Council is yeSnSible for keeping proper accounting records that disclose with reasonable accuracy at any lim¢ the financial SitIon of the Church and enables PCC members to ensure that the financial stat¢ments comply with regulations made under the Church Accounting Regulations 2006. 11 is also responsible for safeguarding the assets of the Church ond hence for taking reasonable s¢¢ps for the prevention and detection of fraud and other irregularities. Approved by the Parochial Chureh Council and signed on its behalf by Simon Beime (Churchwarden) Chris Green (Churchwarden) Date= 13 April 2023
Parish of Merstham AnnualReportforyeor ended3J December 2022 (7) Independent Examiner's Report to the Members of the PCC of the Parish of Merstham I report to the members of the Parochial Church Council (PCC), being the Charity's trustees, on my examination of the accounts of th¢ charity for the year ended 31 Dernber 2022 which are t out on pages 8 to 19. Responsibilities and Basis of Report As members of the PCC you are r¢spons7ble for the preparation of the accounts in a¢cordance with the requirements of th¢ Chariti¢s Act 2011 ('the Act.). I report in reSpt of my examination of the charity's accounis carried out under section 145 of the Act and in carying out my examination I have followed 811 the applicable Dir¢¢tions given by the Charity Commission under section 145(5Kb) of the Aet. Independent Examiner's Ststement I have completed my examination. I confimi that no rnat¢rial matters have come to my attcntion in connection with the examination giving me cause to believe that in any material resp1.. accounting records were not keo in respect of the charity as required by sKtion 130 of the Act. or 2. the accounts do not ard with those records; or the accounts do not comply with the applicable r¢quirem¢nts concerning the forn) and content of accounts set out in the Charities (Accounts and Reports) Tegulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered &s part of an iiidependent ¢xamination I have no concerns and have come across no oth¢r matt¢TS in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the a¢¢ounts to be reached. Alison Sargent FCA Sargent and Co Chartered Accountants 219 Croydon Road Caterham SUeY CR3 6PH Date: April 2023
Parish of Merstham AnnualReportloryeorended31 December2022 (8) Statement of Activilies for the Year Ended 31Yt December 2022 Unre5trted fund5 Endowment fvnd5 Total funds 2022 Total lund5 2021 funds Voluntary income A£tlvltles for8eneratin8 funds 21al 130,222 1,737 131,958 31,913 21bl 3.765 3,765 355 Income from Investments 21cl 11.488 3,887 15.376 8,779 Church activltl•s 21dl 6.369 3,240 Total Incomlni r•soyrus 151.844 5.624 157,468 44.286 FundialsinB costs 31bl 305 305 Church activStlts 111,682 6,162 Ji7.844 42,CXJ6 Govèrnance costs 31cl 1.620 1,620 1,490 Total resour¢•s •xpended 113.6C6 6.162 119,768 43,496 Net Incom• b•lt)r• tran$l•rs 38.238 15381 37,7 790 Grosstransfers bweeTh fvnds Net Incorne lexpenm) Ind net mo¥eTrnt Inlunth befvre qolnj ondlosses ttn ithtstments 38,238 15381 37.7 790 Net Galn on disposal of fixed a5Stts Net investment gains Ilossesl 837,833 38.628 68,5861 42.797 Net movemtftt In funds 8.280 538 38.628 30,8861 881,420 Reconclllwtlon fun Total funds broughtforward 5J16 58.453 329.611 1.293.981 412,561 Total funds carrled forward 914.196 57,915 29).984 1,263.095 1,293,981 Th¢ notrs on pages 10 to 19 forni part of these accounts
Parish of Merstham Annuol Reportforyear ended31 December 2022 (9) Balance Sheet as at 31$1 Deeember 2022 Total fwKis Total funds 2021 Flxed asts Tanglble assets 24.750 24.750 Investments Mrs Puck'S bequest 71al 0.606 147,944 Expendable endowment 71bl 160.357 181,649 Other 71cl 225.639 255,594 Tot•1 fixed assets $4V52 Current assets Debtors 6,222 Cash at bank aMI In hand 719.423 725.645 685.594 Llabllltlts Credltors due In I yèar 13.9021 11,5511 Net current assets 72L743 684,043 Totil n•t M•ts 1263m5 U93.981 Partsh fvnds unrestrkted 12 914.196 9)5.916 restricted io 57,915 58,453 endowment li 329,612 Tot•1 fvnds 1263.095 i.Z93.981 The accounts were approved by the PCC on 13 April 2023 and sigtied on behalf of the F£C by Js @QQ7 Chris Gr¢¢n- huYchward¢n Simon Beirne- Churchwarden
Parish of Merstham Annuul Relr yetirended31 Decefflber2022 (io) Notes to the Aecounts for the Year Ended 31Jt Deeember 2022 Accounting Policies (a) Basis of Preparntion The accounts have been prepared under the current Church Accounting ReBulation5 and in accordance with the Statement of Recommended Prartice.. Accounting and Reporting by Char¢tie5 preparin8 their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS1021 (effective l January 20191 Icharities SORP IFRS10211 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFR510213nd the Charities Act 2011. The accounts have been prepared on a goin8 concern basls on the grounds that no matertal uncertalnties exlsi and under the historlcal cost conventlon modified to include Certain items at fair value as stated In the relevant note5 to the accounts. The accounts are presented irh SterllnB arhd rounded to the nearest £. The Church constitutes a public benefit entity as defined by FRSIO2. (b) Income Recognition All Income 15 recognlsed onee the Church has enthlement to the income, It is probable that the Income will be recelved and the amount of Income receivable can be measured reliablv. The Income of the Church includes income from Church èctivtties, donatlons. 8rants. known legacies and lettlng income for Church premises. All incoming resources have been recognised on a receivable basls except for voluntary donations and income from Investments which is accounted for when received. Legacy 4Sfts are recorded on a case-by-¢ase bas15 followlng the grantin8 of probate when the admSnistratorlexecutor of the estate has communlcated In writin8 both the amount and settlement date. (c) Expenditure Recognition Uabllities are reco8nised as expenditure as soon as there Is a legal or construrttve obli8atlot) cornmltting the Charltv to that expenditure. It is probably that settlement will be required and the amount of the obli8ation can be measured reli¥blv. All expenditure Is accounted for on an accruals basis. Expenditure Is dlrectly attrlbutable to variou5 Church activities and has been included In the relevant cost categories. FundraislnB costs cornprlse the costs associated vthh any fvndraising event. (d) Tangible Fixed A&8ets The Church silver ha5 been includeil at market value based on an independent valuation report In a prevlous year. Under the PCCS (Powers) Measure 1956, all PCCS are trustees of income and expenditure but not nece55arlly of assets. so that any expenditure whethef maintenance or improvement, incurred on consecTated or benefice buildings or rnoveable church ffttings. 15 written off as expendrture durin8 the year.
Parish of Merstham Annut71 Reportfvryearended 31 December2022 (e) Investment Fixed Assets Investments are a form of basic financial instrument and are initially recogni5ed at thelr transattion value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The Statement ol Financial Actfvities includes the net 8ains and losses arisin8 on revaluation and disposals throughout the year. (fj Debtors and Creditors Receivable/Payable Within One Year Debtor5 and creditors receivable or payable within one year are recorded at transèrtion price. Any losses arisSn8 from impairment are recogni5ed in expenditure. (g) Cash at Bank and In Hand Cash at bank and in hand Includes cash and shon-temi hhlY liquld assets with a short-term rnaturity of three months or less from the date of acquisition or openin8 of the deposit or simllar account. (h) Realised Gains and Losses All 8ains and losses are taken to the Statement of Flnancial Activities as they arLse. Realised galns and losse5 on investments are Calculated as the difference between sale proceeds and their openln8 carryin8 value or their pur¢hase value if acquired subsequent to the first day of the flnancial year. Unrealised gains and IossÈ5 arè calculated a5 the diffeience between the fair value at the year end and their carryin8 value. Realised and unrealised investment gain5 and losses are combined in the Statement of Financial Activities. (i) Funds Permanent endowment fvnds a funds which have been 8lven to the Parish of Mersth•m in trust with the restrlction that the funds are invested to 8enerate income for specifi¢ Church activities. Expendable endowments are those fvnds whlch are mainly to be used as permanent endowments but the caprtal can a150 be used for the purposes of the Church In certain clr¢umstances. Restricted funds relate to income which is made available to the Parish of Merstham for specific purposes and whl¢h must be used solely for those purposes. The aim and use of the restricted fund is set out in the note5 to the financlal statements. Unrestricted funds relate to the income whlch is available to meet the general oblertives of the Parish of Merstham. General funds are unrestricted funds which are available for use at the discretion of the Members of the PCC in the furtherance of the general objectives of the Church and which have not been designated for other purposes. Designated funds Comprise unrestricted fijnds that have been set aside by the members of the PCC for partlcular purposes. The aim and use of the desi8nated hjnds are Set out in the notes to the financial statements.
Parish of Merstham Annual Reportfvryeurended31 December2022 (12) 2. Incoming Resources Tot•1 fund5 T¢>tal funds 2021 Unreslrlrt lunds Note5 2a Voluntary In¢ome fund5 Gfft Alij donations 21.623 i.oio 22.633 23,204 IrKomè recovered 5.549 253 5.802 5,427 NoTrGIftAid donation5 1.267 320 1.587 1,777 Grants Legacles IOJ.L Outward GlvlD8 collections 108 Sundry income 154 538 1.397 130.222 1.737 131,958 31,913 2b A¢llvltl•sf4r yn•rntlwfvndJ Quallty Street Fair 3.663 3.663 Other Ipartshl lundraising 102 102 355 3.765 3,76S 355 2c Incom• Irom Irhv¢stments UK dfvldends and Invt5tment 11.488 3,887 15,376 8,779 2d In¢ome from church artmt Church RoomlHall lets 3,739 3.739 1,249 Parlsh magazlne 35 35 Fees for sefvlces 2.595 2,595 1,991 6,369 3.240 Total In¢omlng Resources 151,844 S.624 157,468 44,286
Parish of Merstham AnnuolReportAoryear ended31 December 2022 (13) 3. Resources Expended Note Endowmenl nd5 Totsl funds 2022 Totsl fvnds 2021 fund5 lund5 31al Churth Diocesan Pèrlsh share 24,( 24.CfQ 27,(XXI Reigate Deanery oiher mlnlstrywsts 1,078 Grants and donatlons Outward Givin8 payments Ico Church ronnSng & maifflenance 8.393 12,433 8.077 Church Room & Hall costs i.(1 1,601 Musk & Or8anlsts I,5 I,S¥)5 Junlor Church I Sunthy Club Ov6an maintenance 624 624 276 Parl$h magazlne costs 56 Churchyard upkèèp 19 958 977 Cost ol ser¥kes 450 450 275 Mlsslon Fund Sundry expenses 1.305 1.305 1,176 New bulhl leKien5ionl 74.195 74.195 1,644 111.682 6.162 117,844 42,Lk)6 31bl Costs of genera fund5 FundrdlSi events 305 305 305 Gov•rInt4 costs ¢ountsn¢y fees- Independent Examlnatlon 1,620 1,620 1,490 1.620 1.620 1,490 Totsl resources exwnded i.£4)6 6.162 119,768 43,496
Parish of Merstham AnnualReportforyearended31 December2022 (14) 4. Gains/Losses on Investment Assets Toul Total fvnd5 2021 fvnd$ funts funds 2022 Realised Gain on sale of Ep4ph3nv Htsuse 837,833 Reallsed galn Ilossl on sale of investmerst$ Prolit Ilossl on revaluation of Permanent Endowment 117.3381 117,3381 18.598 Proflt Il¢wl on revaluatlon of Investments 29,958 21.289 151.2481 24,199 Total g•lns11091¢51 on Investment 4S5ets 129.9581 138.6281 168,5861 880.630 5. Staff Costs 2022 2021 lal Wages and Salarles Wage5 pald to I Indlvldual l¢lean•rl 242 No payments to staff were lar8e enough to warrant Soclal Security costs. The salary. pension and housin8 costs of Stipendlary CleT8y are paid by the Olocese from the Olocesan Parlsh share, whlch Is Included In total resource5 expended on Church activities note 3 (all. Ibl Payments to PCC Members During the year no payments were made to PCC Members other than the reirnbursement of agreed expenditure, all of whlch Is Included In the accounts. The PCC mernbers nerther received nor watved any remuneration for thelr seThlces durlng the year as trvstees12021-
Parish of Merstham Annuol Reportfvryeurended31 December2022 (15) 6. Tangible Fixed Assets Cost Sil¥erware Totsl As at l January 2022 24.750 24,750 Dispo$81 At 31 Decembef 2022 24.750 24,750 DlmSnutlon kn value At l January 2022 Di5POsal Dlmlnutlon In value durlngthe year At 31 December 2022 Net Book Value At 31 December 2022 24.7 24,750 24,750 At 31 December 2021 24.750 The Parish owns several items of htoriC silver which We valued In Novernber 2{)7 at £24,750. The members of the PCC are not aware of any materlal changes to thls valuation.
Parish of Merstham AnnuolReportfor yeorended31 December2022 (16) 7. Fixed Asset Investments 2022 20ZI lal Mr5 pkIe'S bequest C8F Investment Fund sha5 Market v¥lue at start of year 147,944 129.346 Unrealised investment galn I Ik)ssl 117.3381 18,598 Marketvalue at end of year 130.606 147,9M The hlstorlc cost of the listed imie5tment was 46.375 Dlwdendsfrom thlsfvndorepoid into the Fobrlc Fundlu RestrKtedfvndJ 46.375 Ibl Exp¢ndable endowment Investment C8F Investment Fund Income shares Market valu• at start of year Addblk)ns DisF)sals 181.649 159.129 Unreallsed Snvestment aaln/1kn5$1 121292 22,520 Market value at end of yeor 160.3S7 181,649 The hlstorlc cost ot thls irwe5tmert wa$ 67,897 Dlvldendslrom thlslundorepoldlnto the GenerOlF4K{#Tr Unrestrlrtedfvndj 67.897 Icl Other Invtrtm•nts Llsted InvestmeThts- UK frAarket value at start of year Unrealised iThvestment gain I Ih)ssl Market value at end of year 18 13 21 IB Thls An¥estmentreJers to RoyolBonk 015c0tlondthoresr105 o donot CBF Investrnent Fund IrKorr shares Market value at start of year 255,576 13.903 Additio 240,C Di5P05a Uniealised Investment 8ain Ilossl 129.9581 1,673 Market value at end of year 225.618 255,576 The hi5torKC05t tsf this investhient was 250,( 250.C#XS
Parish of Merstham Artnuol Reportfvryeorended 31 December2022 (17) 8. Debtors 2022 2021 Due wlthln one year Tax recoverable lunstrirtedI Tax recoverab IrestrSctedl othe¢ debtors 826 2S3 72 421 Total Debtors 6.222 9. Creditors 2022 2021 Amounts fallln{due wjthln one ye•r Accrua15 lor utilitle5 and other cos15 lunre5trictedl Other credltors lunre5trlctedl Sargent &Co oiher Credltots (rerIed) 466 1.550 1.551 Total CredStors 3,9)2 1.551 10. Restricted Funds l¥nc• •t Ir1 ljanuary 2022 resour Evpendlture BalarKe •t Tr•n51er$ 31 Ile¢ember 2022 Fabr1¢ Fund 9,453 5,624 5.538 9,539 SSfverware 24,750 24,750 Or8an Fund 19,on 624 18,448 Mlsslon Fund 5,178 5.178 58,453 5.624 6.162 57,915 The Organ Fund Is a StrICted fund to be used Sole for the renovation and maintenance of the or8an in St Katharine's Church. The MSsslon Fund Is a restricted fvnd for prornoting the missbon of the Church wlthln the Parish of Merstham.
Parish of Merstham Annuul Reportforyeorended31 December2022 (18) 11. Endowment Fund lante at l jaary 2022 BaLqnce at 31 D•¢ember 2022 IornI Transfers or Irts 1110s5e5 re Mrs Puckle'$ bequest 147.944 117,3381 0.6LIS Expendable Endowrnent 181,649 121,2921 160.357 Other 18 21 329,612 138.6281 290.984 The Endowment Funds of the Parish of Mer5tham Consist of both permanent endowment fund5 and expendable endowment funds and consist of the following.. Mrs. Puckle's Bequest is a perrnanent endowment. Thls gffted trust fund is managed by the Diocesan Trust. Although the PCC has no authority to reallse this investment the irbcome from It Is available to the Fabric Fund. The expet)dable endowment was originally created from the Sale of the ver8erfs cottage, which belonged to the PCC. The funds from the sale of the ver8erf5 cotta8e, tO8ether with a donation, were used to Purchase a freehold property in Mansfield Drlve, Merstham. This property was subsequently sold in 2CQ4. The PCC have the authorlty to use the expendable endowment and investment income for Church runnin8 expenses, fabric expenditure and expenditure related to the Mission. The other fund is a block of Royal Bank of Scotland shares received as a donation. The shares are held by the Dlocese but the income, whlch Is unrestrirted and undesignated. Comes to thè Parish. 12. Unrestricted Fund Balance at l J•nu•ry 2022 Balance at 31 De¢¢mbe 2022 Irthnl Trdnsf•rsor Ins 1119$) General funds 255.916 151,8M 39,411 1214.9581 153.391 Desl8Trated funds 650.Q 74.195 I85.( 7K),805 s15.916 151.844 I13.6 129.9581 914,196 The Designated Funds shown above are for the purpose of constructing and fumishin8 the planneil eytension to the north of the church. together with improvements to the heating and lighting within the church. It is anticipated that the total cost of the planned extension may well exceed the value of the designated funds and it will be nece55ary for some of the General Fund, or the Expendable Endowment to be used to meet the full cost.
Parish of Merstham Annuol Reportfvryet7rended31 December2022 (19) 13. Analysis of Net Assets Between Funds Unrestricted Totsl fvnd5 2022 fvnd$ fvnds TaThwble fixed a55ets 24.750 24.750 Investment fixed assets 22S.618 2,984 S16,602 Net Current assets 688.578 33,165 721.743 914.196 57J15 1263,095 14. Post Balance Sheet Events The PCC gave aLrthorization on 16 January 2023 for the commencement of work to replate the current vestrle5 and replace it with a building that will house a meeting area, a small kitchen, and toilets as well as a new vestry. The value of thls contract is £703K plus VAT and professlonal fees. however. the PCC wlll alm to redalm the VAT from the L15ted Places of Worship Grant Scheme. The contractor appointed to yndertske the work Èntered Adminlstratlon on 6 Aprll 2023 wlth the work at an early stage. The consultants advislng the PCC wlll seek alternatlve contractors to complete the changes. At the date of thls report signin8 the PCC are not yet aware of any changes to the construction cost. but are mindful that both the current anticlpated c05t and timefrawne may change and are plannln8 a¢cordSnBIv. 1 S. Related Parties There were no reled paty transactions between any PCC member or other peM)n relaiejj to the charity and the charity other than donation$ bein8 mad¢ without ¢ondition.