2022-12-31-accounts

St Margaret’s Church, Chipstead Parish

Annual Report and Accounts of the Parochial Church Council

For the year ended 31 December 2022

Registered Charity No: 1139738

Church Lane, Chipstead, Surrey CR5 3RD Tel. no: 01737 552160

www.stmargaretschipstead.org

Financial Statements and Annual Report for the year ended 31[st] December 2022

Contents	Page
Annual Report of the Parochial Church Council	1-8
Independent Examiner’s Report	9
Statement of Financial Activities	10
Balance Sheet	11
Notes to the Financial Statements	12-21

St Margaret’s Church, Chipstead Parish ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2022

The Annual Report of the Parochial Church Council will be read to the Annual Parochial Church Meeting, and copies will be available from the church office

Introduction

St Margaret’s Church Parochial Church Council (PCC) is required, as stated in the Parochial Church Councils (Powers) Measure 1956, to cooperate with the minister in promoting in the ecclesiastical parish the whole mission of the Church – pastoral, evangelistic, social and ecumenical.

During the year the following served as members of the PCC:

Officers:

Chairman: The Rev’d Susan Merrilyn Marsh Williams # - (To 31 January 2022) Vice Chair Christopher Howard Taylor # (Chairman from 1 February 2022) Churchwarden: Ray King # - (To 22 May 2022) Sally Anne Bowes# - (From 22 May 2022) Jennifer Smith# - (From 22 May 2022) Secretary: Sally Anne Bowes# – (To 13 June 2022) Eamonn Davern# - (From 13 June 2022)

PCC Members

Andrew James Christie Britton Eamonn Davern Perry George Lee Esparon Lorna Madeleine MacCallum Tom Stuart Sanderson Ian Thrilwall Rev John Norman Wates Janice Whittle – (From 22 May 2022) Katherine Wicksteed

Management personnel

1

St Margaret’s Church, Chipstead Parish ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2022 (continued)

Key Management Personnel

Key Management Personnel are shown on page 1. Details of the expenses of all members of the PCC (including Key Management Personnel) are shown in note 8 to the accounts.

Other than the Reverend Susan Williams, none of the key management received any remuneration . Up until 31 January 2022, the Reverend Susan Williams was remunerated by the Diocese of Southwark. She received no remuneration from the PCC.

Advisers

Bankers Natwest Wallington Branch 27 Woodcote Road Wallington Surrey SM6 0LN

Independent Examiners John Stephenson Correspondence Address The Parish Office Church Lane Chipstead Surrey CR5 3RD

2

St Margaret’s Church, Chipstead Parish

ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2022 (continued)

Our aims and purposes as a charity

The PCC has the responsibility for co-operating with the incumbent from time to time (and in the absence of an incumbent co-operating with the churchwardens and the Dean of Reigate) in promoting in the ecclesiastical parish of Chipstead, the Gospel and the whole mission of the church, pastoral, evangelistic, social and ecumenical. The PCC is specifically responsible for the maintenance of the Church building, the Orchard and the churchyard, the Peter Aubertin Hall in Chipstead and the Mission Hall in Mugswell.

Our Mission Statement reflects our ethos:

To know and share God’s transforming love with one another, with our local community and with the wider world.

What we planned to do to achieve our charitable objectives

When planning our activities for the year, the PCC considered the Charity Commission’s guidance on public benefit. The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016, fully recognising its duty to have due regard to the House of Bishop’s guidance on safeguarding children and vulnerable adults.

Our aims are:

• To enable as many people as possible to know Christ, worship him and grow in faith within our church and parish.

• To teach, baptise and nurture new and existing believers.

• To involve and seek to build bridges between the many, often varied, groups that live within the parish.

• To put faith into practice, through prayer and scripture, music and sacrament.

• To build upon our worship and prayer and learning about the gospel by meeting in small groups.

• To assist people of all ages and from all walks of life to develop their knowledge of, and trust in, Jesus.

• To provide pastoral care for people living in the parish and also for members of the congregation who live outside of the parish.

• To support the homeless in the deanery.

• To provide assistance to the poor and needy.

• To assist financially other organisations who promote our mission.

Mission Action Plan (MAP)

During the year we updated our MAP. Five clear priorities came out of this:

• To appoint a new Rector.

• To grow our work with children and families

• To grow our outreach and be more visible in the local community.

• To grow our pastoral care

• To re-establish our two main services.

3

St Margaret’s Church, Chipstead Parish

ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2022 (continued)

Achievements and performance

At the start of September 2021, our Rector, the Reverend Susan Williams, went on a period of extended sick leave. She resigned from her post with effect from 31 January 2022 without having returned to work. Therefore, for the majority of the year the parish has been in vacancy without an incumbent.

As we have emerged from COVID, we re-established a regular Sunday morning in person service at 10 o’clock. This service has relied on a dedicated team of worship leaders and preachers drawn from our own congregation supplemented from time to time by members of clergy from outside of the parish. We were particularly indebted to the Diocese of Southwark who enabled the Reverend Erin Gilmour, a curate from St Mary’s Reigate, to lend her support on a part time basis for a number of months during the year. In particular, while she was with us, Erin was able to lead services on two Sundays a month and to undertake wedding and funeral services. At other times during the year, other members of clergy from both inside and outside of the diocese have stepped in to either take Sunday services and to officiate at weddings and funerals.

During the year, our Honorary Curate, the Reverend John Wates, stepped down after many years of service to St Margaret’s. In July, we were able to hold a service of thanks for John’s ministry presided over by the Bishop of Southwark. Notwithstanding this, John has continued to step in when needed to run services during the year. In particular, in September, he was able to lead our service of commemoration for the life of Queen Elizabeth II.

In February 2023, we were delighted to announce the appointment of the Reverend Hannah Gordon as our new Rector. Hannah, who was one of the members of the clergy helping us with our Sunday services during the year, will take up her appointment on 30 May 2023. We look forward to welcoming Hannah and we pray that her ministry with us is fruitful.

Thanks to the dedicated work of our worship leaders and preachers, supported by clergy from outside of the parish, we have been able to continue to fulfil our Mission and aims notwithstanding that we have been in vacancy for most of the year.

The PCC would also like to extend its warm thanks to everyone in the congregation who has stepped forward to help the church during the period of vacancy and, in particular, to the churchwardens who, along with the Area Dean, have assumed overall responsibility for the operation of St Margaret’s in the absence of a Rector. As noted above, there was a change in churchwardens in May 2022, so churchwarden responsibilities have been shared during the year.

As set out in our updated MAP, it remains our ambition to move back to holding two services of different styles on a Sunday once our resources allow for this.

4

St Margaret’s Church, Chipstead Parish ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2022 (continued)

Our Youth and Communities Leader, Josh Askwith has continued to undertake wonderful work with our young people both through Sunday youth group sessions, through holding a regular after school meeting with a wider group during the week and by mentoring young people at St Bedes school. . His ministry with us has continued to provide valuable support and teaching to our young people. Josh has also played a full part in the wider activities of the church and has led a number of our Sunday services.

Whilst we have been trying to recruit a Children and Families Leader, we have so far not been able to find the right person for this role although we continue to hope and pray that someone will come forward. However, our children’s ministry has been led during the year by a number of talented people from within our own congregation who have stepped in to lead our vibrant children’s church. In addition to the Sunday groups, Maggies Song and Messy Church also attract significant congregations including children who don’t come to church regularly on a Sunday.

In December, a number of our congregation ran a Warm Hub in Hooley Village hall providing heat, a hot meal and fellowship for anyone within our community who wished to come. This was part of a wider nationwide initiative to provide Warm Hubs across the country and was funded by Surrey County Council. Whilst this initiative has now come to an end, it is our intention to use this as a springboard to relaunch CAMEO which was paused during the COVID pandemic.

As set out in the accounts, our Mission Committee has continued to further our aim to share God’s transforming love with those in the wider world by financially assisting many charities both within and outside of the UK. During the year, the Chair of the Mission Committee presented to the PCC on our overall approach to Mission giving. As well as giving regular donations to a number of charities, we also have a contingency amount which we use to donate to support initiatives provided by the UK to cataclysmic world events.

2022 Financial Review

The church continues to enjoy a very strong overall financial position thanks to the substantial legacies received in recent years, totalling over £910,000 between 2019 and 2021. At the end of 2022 we enjoyed a net cash position of £890,000. A decision was made by the newly formed finance committee to invest a substantial portion of these monies in financial assets managed by CCLA (a church financial institution) with the aim of improving our long term returns relative to holding cash. As of the end of 2022 this had not been implemented.

Were it not for the legacies the church would not be in a healthy position. The deficit continues to grow, to £92k for 2022 versus £81k in 2021. The deficit has been growing since 2016 as a result of a steep decline in planned giving amounting to £92k since 2016. However for the first time in five years 2022 saw planned giving, together with the associated gift aid recovered, flat at £148k. Despite the better result from planned giving in 2022 overall income fell by £7k to £182k mainly because 2021 was boosted by legacies received of almost £8k.

Overall costs, excluding various exceptional items in 2021 which boosted the cost base, rose by £20k, equivalent to around 8%. Staff costs rose thanks to a full year of employment for our youth worker and there were steep rises in electricity and gas costs, up 63%, thanks to well publicised factors. These two cost categories rose by approximately £13k in 2022, accounting for the major part of underlying increase. Inflationary pressures are likely to persist in 2023, as a result of which we would expect our deficit to increase further this year.

5

St Margaret’s Church, Chipstead Parish ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2022 (continued)

Revenue for the PA hall saw a solid increase over 2021 from £9.6k to £12.8k as normal levels of bookings resumed after COVID but significant increases in running expenses, mainly heating and lighting, left only a small profit, despite no longer allocating administration expenses to the PA Hall account.

The financial outlook for 2023 remains poor. Inflation will continue to impact most elements of St Margaret’s costs and even on the basis that planned giving holds steady our deficit is forecast to grow further in the current year.

Our expectation is that the church will continue to operate at a deficit for the foreseeable future and while this is not a concern in the short term thanks to the substantial resources we enjoy, the size and expected growth of the deficit cannot be ignored longer term

At 31 December 2022, total funds amounted to £910,406 (2021: £1,002,497) of which £101,484 (2021: £100,309) were restricted and £132,278 (2021: £132,278) were in the Endowment Fund.

Statement of PCC responsibilities

The Parochial Church Council (PCC) is responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The Church Accounting Regulations 2006 require the PCC to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Council and of its financial activities for that period. In preparing those financial statements, the PCC is required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgments and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The PCC is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Council and enable it to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. It is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

6

St Margaret’s Church, Chipstead Parish ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2022 (continued)

Risk assessment

The PCC is satisfied that there are procedures in place to mitigate exposure to major risks. The PCC considers the principal risks and uncertainties facing the Church and their plans and strategies for managing these risks to be:

Potential Risk	Potential Impact	Steps to mitigate risk
Security of assets	• loss or damage • theft of assets	• review security arrangements • asset register and inspection programme • review insurance cover
Fund-raising	• unsatisfactory returns • reputational risks of campaign or methods used • actions of agents and commercial fund-raisers • compliance with law and regulation	• implement appraisal, budgeting and authorisation procedures • review regulatory compliance • monitor the adequacy of financial returns achieved • stewardship reporting in annual report
Disaster recovery and planning	• computer system failures or loss of data • destruction of property, equipment, records through fire, flood or similar damage	• agree IT recovery plan • implement data backup procedures and security measures • review insurance cover •create disaster recovery plan
Cash flow sensitivities	• inability to meet commitments • lack of liquidity to cover variance in costs • impact on operational activities	• ensure adequate cash flow projections (prudence of assumptions) • identify major sensitivities • ensure adequate information flow from operational managers • monitor arrangements and reporting

7

St Margaret’s Church, Chipstead Parish ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2022 (continued)

Reserves policy

The PCC needs reserves to cover short term shortfalls in income and to cover unexpected expenditure. The vast majority of the PCC's income derives from voluntary donations. Whilst a significant proportion of these donations are planned, there is a level of unplanned giving which is not always predictable. In addition, due to changes in circumstances within the congregation, planned giving may not always match the level pledged at the start of the year. Reserves allow the PCC to better manage short term fluctuations in the level of giving. In addition, the running costs of the church are not always predictable and reserves allow the PCC to cope with unexpected expenditure which may arise from time to time. It is PCC policy to try to maintain a balance on free reserves which equates to at least three months of unrestricted payments, which would equate to £75k. At the end of 2022 unrestricted reserves were £769,000.

Fundraising

The PCC engaged in fundraising, in the form of receiving donations, some of which were gift-aided, from members of our fellowship. The PCC did not contract the service of any professional fundraisers as defined by section 58 of the Charities Act 1992. The PCC is satisfied that its fundraising practices are ethical. No complaints were received about our fundraising practices.

Investment policy

The PCC is risk averse in its investment policy placing surplus cash on deposit with the CBF Church of England Deposit Fund or with large banks.

Chris Taylor Chairman Date 31st March 2023

8

St Margaret’s Church, Chipstead Parish INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL

I report to the charity trustees on my examination of the accounts of the St Margaret’s Parochial Church Council (the Church) for the year ended 31 December 2022 set out on pages 10 to 21.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Trust’s accounts as carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

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 Church as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Report) 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; or

4. the accounts have not been prepared in accordance with the methods and principles of 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 the Republic of Ireland (FRS 102).

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 accounts to be reached.

Date:

9

St Margaret’s Church, Chipstead Parish Statement of Financial Activities for the year ended 31 December 2022

For the year ended 31 December 2022		2022	2022				2021	2021
	Unrestricted	Restricted	Endowment	TOTAL		Unrestricted	Restricted	Endowment	TOTAL
	Funds	Funds	Funds	2022		Funds	Funds	Funds	2021
Notes	2(a)	2(b)	10			2(a)	2(b)	10
INCOME	£	£	£	£		£	£	£	£
Voluntaryincome	159,303	350	-	159,653		168,978	5,200		174,178
Income from church activities	14,198	-	-	14,198		15,098	0		15,098
Activities for generatingfunds	2,635	17,221	-	19,856		3,604	10,071		13,675
Income from investments	5,814	-	-	5,814		1,165			1,165
Total Income	181,950	17,571	-	199,521		188,845	15,271		204,116
EXPENDITURE
Church activities	274,876	13,951	-	288,827		260,332	22,802		283,134
Raisingfunds	340	2,445	-	2,785		225	1,275		1,500
			-
Total Expenditure	275,216	16,396	-	291,612		260,557	24,077		284,634
Net Income/(Expenditure)	(93,266)	1,175	-	(92,091)		(71,712)	(8,806)		(80,518)
Transfer between funds	-	-	-	-		-	-	-	-
Net movement in funds	(93,266)	1,175	-	(92,091)		(71,712)	(8,806)		(80,518)
Reconciliation of funds
Total funds brought forward	769,910	100,309	132,278	1,002,497		841,622	109,115	132,278	1,083,015
Total funds carried forward	676,644	101,484	132,278	910,406		769,910	100,309	132,278	1,002,497

10

St Margaret’s Church, Chipstead Parish Balance sheet as 31 December 2022

	Notes		2022		2021
			£		£
FIXED ASSETS
Tangible assets	3		3,540		8,194
CURRENT ASSETS
Debtors	5	33,994		31,706
Cash at bank and in hand		891,476		972,203
		925,470		1,003,909
LIABILITIES: AMOUNTS FALLING
DUE WITHIN ONE YEAR	6	18,604		9,608
NET CURRENT ASSETS			906,866		994,303
NET ASSETS			910,406		1,002,497
PARISH FUNDS
Unrestricted	7		676,644		769,910
Restricted	7		101,484		100,309
Endowment	7		132,278		132,278
			910,406		1,002,497

The accounts were approved by the PCC on 31st March 2023 and signed on behalf of the PCC by:

Chris Taylor Chairman

11

St Margaret’s Church, Chipstead Parish Notes to the Financial Statements for the year ended 31st December 2022

1. ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of preparation

The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102).The financial statements have been prepared under the historical cost convention. The accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of Church members. 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 PCC meets the definition of a public benefit entity under FRS102.

Going concern

The PCC have prepared detailed forecasts and cash flow projections which they believe are based upon reasonable assumptions. The forecasts show that the church should be able to operate for the foreseeable future and thus the trustees consider it appropriate to prepare the financial statements on a going concern basis.

FUNDS

1. Unrestricted Funds represent the resources of the PCC that are not subject to any restrictions regarding their use and are available for the general purposes of the PCC.

2. Restricted Funds represent resources which the PCC has indicated to donors and fundraisers will be used for specified purposes:

3. The Fabric Fund mainly derives from major donations and special events to meet major expenses on repairs and renewals of the Church and the Churchyard.

4. Trust Funds consist of donations made specifically for the upkeep of certain graves. The Bell Fund contains specific donations and surpluses from the use of bells at weddings set aside to meet future maintenance of and improvements to the bells and to meet bell ringer expenses.

5. Specific Collections consist of donations received at services and other Parish occasions for purposes specified at the time of collection.

6. The Appeal Fund contains donations made and the proceeds of special events undertaken for the purposes of funding the construction of The Orchard.

The Peter Aubertin Hall Fund consists of income from operating activities of the Hall, specific fundraising events and donations for the improvement of the Hall.

• The Mugswell Hall Fund consists of income from the operating activities of the Hall and specific donations for the maintenance and improvement of the Hall

3 The Endowment Fund represents resources provided to build up a fund to ensure the future financial wellbeing of the Church. The Endowment Fund, a portion of which was originally donated in the 1970s, was done so with the restriction that it should not be spent on any activities outside of the parish, or routine running costs of the church. It is the policy of the PCC that it should be used as a reserve against major expenditure on the church fabric and churchyard.

12

St Margaret’s Church, Chipstead Parish

Notes to the Financial Statements for the year ended 31st December 2022 (continued)

1. ACCOUNTING POLICIES (continued)

Income recognition

All income is recognised once the Church has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

1. Voluntary Income

2. Collections at services are recognised when received on behalf of the PCC.

3. Planned giving is recognised when received and related Gift Aid is accrued for.

4. Funds raised through events are accounted for gross.

5. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount is quantifiable and the ultimate receipt by the PCC is considered probable.

Other Income

• Operating income from other sources such as letting of church premises, magazine sales/advertising and parochial fees is recognised when due.

• Income from bank and CBF interest is recognised when received

Expenditure

• All expenditure is accounted for on an accruals basis.

Fixed Assets

Consecrated Property and Movable Church Furnishings

• Consecrated land/buildings and equipment are not included in the financial statements by virtue of the Charities Act 2011 Under the PCCs (Powers) Measure 1956, all PCCs are trustees of income and expenditure but not necessarily of assets, so that any expenditure whether maintenance or improvement , incurred on consecrated or benefice buildings or moveable church fittings, is written off as expenditure in the year.

• Movable church furnishings held by the Rector 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 inventory which can be inspected at any time.

• Other church buildings

• The accounts for the PA Hall and Mugswell Hall are both shown under restricted funds. The PCC has made a decision not to show these buildings within fixed assets. Both of these halls were built before the start of the 20th century and the PCC believes that in the context of today’s accounts showing these at cost would be immaterial.

• The Orchard - The PCC believes that since the Diocese of Rochester owns the church, the churchyard and the land on which the Orchard is built, it would be inappropriate to capitalise the Orchard as if it belonged to us.

• Depreciation is provided at the following rates to write off the cost of fixed assets over their useful lives:

  • Furniture, fittings & equipment- Straight line over 3 - 5 years

13

St Margaret’s Church, Chipstead Parish

Notes to the Financial Statements for the year ended 31st December 2022 (continued)

1. ACCOUNTING POLICIES (continued)

Current assets

Income tax recoverable and other debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid. Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.

Creditors and provisions

Creditors and provisions are recognised where the Church has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments.

2 Income and Expenditure

The PCC has chosen to show income and expenditure on a fund by fund basis for both the historic and current periods.This gives greater clarity rather than the amalgamated basis for the historic period which is outlined in the PCC Accountability Manual (published 2006 and updated to incorporate SORP 2015).

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St Margaret’s Church, Chipstead Parish

Notes to the Financial Statements for the year ended 31st December 2022 (continued)

Note 2a Unrestrictedgeneral church funds		2022	2021
INCOME		£	£
Voluntary income
Planned Giving		122,418	123,242
Collections(plate)at services		3,135	1,522
Income tax recoverable		25,724	25,192
Grants received		2,600	18
Donations etc.		4,926	11,081
Legacies		500	7,923
		159,303	168,978
Income From Church Activities:
Wedding, Baptism and Funeral fees		14,198	15,073
Contractual income		-	25
			15,098
Activities for generating funds
Magazine sales		1,816	2,031
Magazine advertising		460	1,082
Fetes and other fundraisingevents		-	41
Orchard hire		359	450
		2,635	3,604
Interest income		5,814	1,165
TOTAL INCOME		181,950	188,845
EXPENDITURE
Church Activities
Parish Share		120,000	120,000
Clergyexpenses		-	1,821
Church building maintenance		5,646	6,520
Churchyard maintenance		1,486	492
Youth,children,music and hospitality		39,673	31,610
Church runningexpenses		51,064	47,760
Organ costs		-	-
General & secretarial expenses		32,535	30,419
Printingand stationery		7,547	8,550
Depreciation		4,654	5,046
		262,605	252,218
Grants
Overseas mission societies		10,156	3,484
Christian relief & development agencies		500	500
Home mission & other church societies		1,615	4,130
		12,271	8,114

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St Margaret’s Church, Chipstead Parish

Notes to the Financial Statements for the year ended 31st December 2022 (continued) Note 2a Unrestricted general church funds (continued)

Note 2a Unrestricted general church funds (continued)
Fund Raising costs
Fund raisingcosts total		340		225
TOTAL EXPENDITURE		275,216		260,558
Note 2(b) Restricted Funds
Trust Funds			2022		2021
			£		£
Income
Dividends & Interest			-		-
Expenditure
Flowers & upkeepofgraves			-		-
Net Income			-		-
Balance at 1 January			367		367
Balance at 31 December			367		367
Bell Fund			2022		2021
			£		£
Income
Interest			-		-
Surplus from weddings			-		-
Net income			-		-
Transfers			-		-
Balance at 1 January			28,576		28,576
Balance at 31 December			28,576		28,576
Specific Donations			2022		2021
			£		£
Income
Collections			-		-
Donations etc			100		100
Events			-		-
			100		100
Expenditure
Overseas mission societies
Christian relief & development agencies					4,001
Total Grants					4,001

16

St Margaret’s Church, Chipstead Parish

Notes to the Financial Statements for the year ended 31st December 2022 (continued)

Note 2 (b) Restricted Funds (continued)

Note 2 (b) Restricted Funds (continued)
Net Income		100	(3,901)
Balance at 1 January		1,554	5,455
Balance at 31 December		1,654	1,554
		2022	2021
Appeal Fund		£	£
Income		100	100
Expenditure
Grants to home mission & other church societies		-	-
Costs of Fundraising		-	-
Equipmentpurchases		-	-
		-	-
Net Income/(expenditure)		100	100
Balance at 1 January		6,903	6,803
Balance at 31 December		7,003	6,903
Peter Aubertin Hall		2022	2022
Income		£	£
Operatingactivities togenerate funds		250	-
Church hall lettings		12,535	9,644
		12,785	9,644
Dividends & interest		-	-
Other Income		-	-
		12,785	9,644
Expenditure
Church hall runningcosts		8,874	6,139
Church hall buildingmaintenance		3,056	8,940
Administration of Hall Bookings		-	4,000
		11,930	19,079
Net Income		855	(9,435)
Transfers		-	-
Balance at 1 January		1,004	10,439
Balance at 31 December		1,859	1,004

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St Margaret’s Church, Chipstead Parish

Notes to the Financial Statements for the year ended 31st December 2022 (continued)

Note 2(b) Restricted funds (continued)

Note 2(b) Restricted funds (continued)
Mugswell Hall		2022	2021
		£	£
Income
Donations		-	-
Church hall lettings		2,240	427
		427	427
Expenditure
Church hall running costs		1,646	998
Church hall buildingmaintenance		375	-
		2,021	998
Net Income		219	(571)
Balance at 1 January		1,916	2,487
Balance at 31 December		2,135	1,916
		2022	2021
Fabric Fund		£	£
Income
Bequest			5,000
Expenditure
Net Income		-	5,000
Balance at 1 January		59,988	54,988
Balance at 31 December		59,988	59,988

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St Margaret’s Church, Chipstead Parish

Notes to the Financial Statements for the year ended 31st December 2022 (continued)

3: Fixed assets for use by the PCC Cost At 1 January2022 Additions at cost At 31 December 2022 Depreciation At 1 January2022 Charge for theyear At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021	3: Fixed assets for use by the PCC Cost At 1 January2022 Additions at cost At 31 December 2022 Depreciation At 1 January2022 Charge for theyear At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021
		Furniture, fittings and equipment
	At 1 January2022	22,218
	Additions at cost	-
	At 31 December 2022	22,218
	At 1 January2022	14,024
	Charge for theyear	4,654
	At 31 December 2022
		18,678
	At 31 December 2022
		3,540
	At 31 December 2021
		8,194
4: Staff Costs				2022	2021
				£	£
Wages and salaries				57,954	49,305
Social security costs				1,121	934
Employers Pension costs				2,196	1,603
Total				61,271	51,842
Average number of employees				2	3

Wages and salaries include the administration costs charged against the PA Hall accounts. At the start of the year the PCC employed a finance assistant and a youth worker, none of whom earned £60,000 pa or more. None of the employees were members of the PCC during 2022. There were no employee benefits to key management personnel in the previous or current year.

5 Debtors		2022	2021
Due within oneyear		£	£
Income Tax recoverable		25,975	24,809
Prepayments		6,234	5,667
Other Debtors		1,785	1,229
Total debtors		33,994	31,705
6 Liabilities		2022	2021
Amount falling due within one year		£	£
Deferred Income		670	150
Accruals		17,934	9,458
Total liabilities		18,604	9,608

19

St Margaret’s Church, Chipstead Parish

Notes to the Financial Statements for the year ended 31st December 2022 (continued)

7 Analysis of Net Assets by Fund
	2022
	Current	Fixed assets	Current	Fund
	Assets		Liabilities	Balance
	£	£	£	£
Unrestricted Funds	691,708	3,540	(14,794)	676,644
Fabric Fund	59,988			59,988
Trust Funds	367			367
Bell Fund	28,576			28,576
Appeal Fund	7,003			7,003
Specific Donations	1,554			1,554
PA Hall	5,669		(3,810)	1,859
Mugswell Hall	2,134			2,134
Endowment Fund	132,278			132,278
Total Funds	925,467	3,540	(18,604)	910,406
	2021
	Current	Fixed assets	Current	Fund
	Assets		Liabilities	Balance
	£	£	£	£
Unrestricted Funds	769,738	8,194	(8,022)	769,910
Fabric Fund	59,988			59,988
Trust Funds	367			367
Bell Fund	28,576			28,576
Appeal Fund	6,903			6,903
Specific Donations	1,554			1,554
PA Hall	1,982		(976)	1,004
Mugswell Hall	2,525		(610)	1,917
Endowment Fund	132,278			132,278
Total Funds	1,003,911	8,194	(9,608)	1,002,497

20

St Margaret’s Church, Chipstead Parish

Notes to the Financial Statements for the year ended 31st December 2022 (continued)

8. Related party transactions

During the year there were no related party transactions

9. Lease Commitments

The total future minimum lease payments under non-cancellable operating leases are payable:

		2022	2021
		£	£
Within 1year		1,430	1,430
Within 2 to 5years		1,430	2,860
		2,860	4,290
Leasepayments duringtheyear		1,430	1,430

10. Endowment fund

The Endowment Fund, a portion of which was originally donated in the 1970s, was done with the restriction that it should not be spent on any activities outside of the parish, or on routine running costs of the church. During 2018 the cost of strengthening the Bell Tower and adding a wooden gallery, were charged against the fund. There was no expenditure charged against the fund in the past four years..

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