## **PAROCHIAL CHURCH COUNCIL OF**
## **ST. PHILEMON, TOXTETH**
## **CHARITY NUMBER 1140013**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31ST DECEMBER, 2023**
Page 1
## **PAROCHIAL CHURCH COUNCIL OF ST. PHILEMON, TOXTETH CHARITY INFORMATION**
**Registered Charity Name:** The Parochial Church Council of the Ecclesiastical Parish of St Philemon Toxteth
**Working Name:**
St Philemon's Church, Toxteth
**Charity Registration Number** The charity became registered with the charity commission on 25th January 2011 under number 1140013.
**Governing Instrument** The Parochial Church Council (PCC) is established under the Parochial Church Councils (Powers) Measure 1956 (as amended) and is a body corporate with perpetual succession.
**Incumbent:** Rev'd M Allen - From April 2023 St Philemon's Vicarage 40 Devonshire Road Liverpool, L8 3TZ. **Bankers:** Central Board of Finance of the Church of England 80 Cheapside, London EC2V 6DZ
HSBC plc 168 Aigburth Road, Liverpool L17 9PF. 4 Dale Street, Liverpool L69 2BZ. 23 Allerton Road, Liverpool, L18 2DA
**Independent Examiner:**
Mr P J Collins F.C.A. Collins & Co. Chartered Accountants Suite 13 Hattersley House 1 Hattersley Court Ormskirk L39 2AY
Page 2
## **PAROCHIAL CHURCH COUNCIL OF ST. PHILEMON, TOXTETH ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER, 2023**
## **Background**
The Parochial Church Council of St. Philemon Toxteth (the "PCC"), has the responsibility of co-operating with the incumbent, in promoting in the ecclesiastical parish the whole mission of the church. Our vision is to:
- 1) Reach into as many communities as we can with the good news of Jesus;
- 2) Gather us under excellent, culturally engaged, Bible teaching;
- 3) Build one another up to live distinctively and consistently for Christ;
- 4) Network towards healthy Anglican churches pioneered across the Diocese.
The PCC also has maintenance responsibility for the church building of St. Philemon and the hall and associated buildings of St. Johns Centre.
The Parochial Church Council (PCC) is established under the Parochial Church Councils (Powers) Measure 1956 (as amended) and is a body corporate with perpetual succession. The PCC is also regulated by, inter alia, the Church Representation Rules. Reference to all this legislation is essential for a full understanding of the PCC's legal status and its members' duties and responsibilities.
## **Trustee membership and appointment**
Members of the PCC are either ex-officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules.
During the year all the following served as members of the PCC: -
Rev'd Michael Allen (co-pastor and then incumbent from April 2023) Rev'd Andrew Simmons (co-pastor) Hannah Smith (until 07/01/23) Thomas Keningley (until 07/01/23) Gabriel Chiu Neil Sanders (until 07/01/23) Shika Habershon Charlotte Kane Colin Buckman Ali Reza Gholami (until 07/01/23) Gary Pauls Kenneth Wiles Jonathan Lancaster (from 07/01/23) Philip Smith (until 07/01/23) Jesvin Edamana Ann Keningley (from 07/01/23) Lauren Smith (from 07/01/23) Geoffrey Millington (from 07/01/23)
## **Trustee induction and training**
PCC members are informed of training events and have access to handbooks and other materials relating to trustee responsibilities, basic health and safety, risk assessment and management and safeguarding procedures.
## **Organisation**
The PCC has a Standing Committees as required by law; these have the power to transact the day to day business of the charity between Council Meetings, subject to any directions by the council.
## **Electoral Roll**
The number of names on the electoral roll as reported at 31st December 2023 was: - St. Philemon 107 (2022 - 106).
Page 3
## **PAROCHIAL CHURCH COUNCIL OF ST. PHILEMON, TOXTETH**
## **ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER, 2023 (Cont.)**
## **Review of the Year**
2023 saw a number of changes including Michael Allen being installed as vicar in April, the stopping of two of our smaller Sunday services and the start of a new 5pm service.
We are thankful that, across the year, God has continued to grow our church in number, diversity and depth of discipleship, as well as help us navigate some of the changes in the wider Church of England.
## **Financial Review**
Results for the year are set out on page 6.
Our main sources of income was tax efficient giving which amounted to £88,738 (2022: £97,650), grants received which amounted to £49,841 (2022: £95,482) and Donations £13,211 (2022: £23,354). The main expenditure was in respect of salaries and pensions of £91,700 (2022: £135,366), the Diocesan Parish Share of £20,637 (2022: £20,419) and repairs of £5,918 (2022: £4,167).
It came to light in January 2024 that a significant sum of money had been taken both from the safe and the collection box over an extended period. It is unlikely that the money will be recovered, or the person responsible identified. Several failures were identified and measures have been put in place to ensure that it does not happen again.
## **Plans for the Future**
In 2024 we are excited to continue developing our two congregations, including our ability to welcome more people into larger gatherings. We also want to invest in new leaders, particularly from under-represented demograhics. We expect our Church Weekend in May to be a particular highlight.
## **Reserves policy**
We aim to hold reserves sufficient to cover all costs and Missionary Giving for 3 months. This is currently £51,000 (2022: £59,000). The current level of general unrestricted funds is £149,293 (2022: £67,930).
## **Risk Statement**
The charity has reviewed the major risks to which it is exposed,and systems have been established to mitigate them.
The main areas are:
**Financial:** The PCC's final responsibility for all assets allows, under its discretion, the reserves in general provide guarantees for work done by the charity. In return, where a risk is identified budgets are required by the PCC to check the viability of the projects in the churches. **Operational:** In the event of a church building becoming unusable for a limited time, we will look to rent another meeting place.
**Health & Safety:** Our policies and procedures are kept under review by the PCC with a responsible officer for each property.
**Safeguarding of children and vulnerable adults** : As for "Health & Safety" above, our policies derive from those of the Diocese of Liverpool. They themselves shaped by Home Office Guidelines. Relevant training is undertaken and we look to respond quickly to the ever-changing DBS procedures. **Equal Opportunities and Employment Issues** :An area of risk as well as opportunity. We seek to be "just" employers as the PCC sets policy, approves and authorises requests to recruit, and is responsible for the recruitment and management of employees.
Page 4
## **PAROCHIAL CHURCH COUNCIL OF ST. PHILEMON, TOXTETH**
## **ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER, 2023 (Cont.)**
## **Public Benefit Statement**
When planning our activities for the year, the PCC gave consideration to the Charity Commission's guidance on public benefit and, in particular, the specific guidance to charities concerned with the advancement of religion.
## **Trustees' responsibilities in relation to the financial statements**
Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its surplus or deficit for that year. In preparing those financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable Accounting Standards and Statements of Recommended Practice have been followed, subject to any 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 operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are 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.
On behalf of the PCC
……………………………………………………………… Rev'd Michael Allen (Chair) 13th May 2024
Page 5
## **PAROCHIAL CHURCH COUNCIL OF ST. PHILEMON, TOXTETH**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PCC OF PHILEMON, TOXTETH**
Report to the Parochial Church Council (PCC) of St Philemon with St Gabriel & St Cleopas (the Trust) on my examination of the accounts for the year ended 31st December 2023 which are set out on pages 6 to 14 of your Annual Report.
## **Responsibilities and basis of report**
As the charity 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 carried out under section 145 of the 2011 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 material matters have come to my attention in connection with the examination giving me cause me to believe that in, any material aspect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act: or
2. the accounts do not accord with those records.
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regultions 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 order to enable a proper understanding of the accounts to be reached.
**Mr P. J. Collins (F.C.A) Collins & Co. Chartered Accountants Suite 13 Hattersley House 1 Hattersley Court Ormskirk L39 2AY**
**13th May 2024**
Page 6
## **PAROCHIAL CHURCH COUNCIL OF ST. PHILEMON, TOXTETH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER, 2023**
|**Unrestricted**
**Funds**
**Note**
**£**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
2
150,602
Charitable activities
3
26,372
Other trading actvities
4
0
Investments
5
16,641
**TOTAL INCOME**
193,615
**EXPENDITURE ON:**
Charitable Actvities
6
144,936
Raising funds
7
2,556
**TOTAL EXPENDITURE**
147,492
46,123
Gains/(losses) on investments
0
**NET INCOME/(EXPENDITURE)**
46,123
**TRANSFER BETWEEN FUNDS**
18
51,846
**NET MOVEMENT IN FUNDS**
97,969
**RECONCILIATION OF FUNDS:**
TOTAL FUNDS BROUGHT FORWARD
AT 1ST JANUARY, 2023
463,215
**TOTAL FUNDS CARRIED FORWARD**
**AT 31ST DECEMBER, 2023**
561,184|**Restricted**
**Endowment**
**Funds**
**Funds**
**£**
**£**
45,694
0
0
0
0
0
567
0
46,261
0
56,502
0
0
0
56,502
0
(10,241)
0
0
4,923
(10,241)
4,923
(51,846)
0
(62,087)
4,923
112,638
66,687
50,551
71,610|**TOTAL FUNDS**
**2023**
**2022**
**£**
**£**
196,296
254,984
26,372
13,805
0
675
17,208
10,580
239,876
280,044
201,438
312,915
2,556
5,095
203,994
318,010
35,882
(37,966)
4,923
(160,218)
40,805
(198,184)
0
0
40,805
(198,184)
642,540
840,724
683,345
642,540|
|---|---|---|
Page 7
## **PAROCHIAL CHURCH COUNCIL OF ST. PHILEMON, TOXTETH BALANCE SHEET AT 31ST DECEMBER, 2023**
|**Note**
**FIXED ASSETS**
Tangible Assets
9
Investments
10
Total fixed assets
**CURRENT ASSETS**
Debtors
11
Cash at Bank and in Hand
Total current assets
**LIABILITIES:**
**Creditors: Amounts falling due within one year**
12
**NET CURRENT ASSETS**
**Creditors: Amounts falling due after more than one year**
**TOTAL NET ASSETS**
**FUNDS OF THE CHARITY**
13
Unrestricted funds
Restricted funds
Endowment funds
Total charity funds|**2023**
**£**
1
421,610
421,611
49,507
215,232
264,739
3,005
261,734
0
683,345
561,184
50,551
71,610
683,345|**2022**
**£**
1
416,687
416,688
43,300
186,509
229,809
3,957
225,852
0
642,540
463,215
112,638
66,687
642,540|
|---|---|---|
Approved by the Parochial Church Council on 13th May 2024 and signed on its behalf by:
……………………………………………………… ………………………………………………………… Rev'd Michael Allen Mr Geoffrey Millington
The notes on pages 8 to 14 form part of these accounts.
Page 8
## **PAROCHIAL CHURCH COUNCIL OF ST. PHILEMON, TOXTETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2023**
## **1 Accounting Policies**
The financial statements have been prepared in accordance with applicable accounting standards and the Charities SORP 2015 FRS 102.
The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value.
The accounts include transactions, assets and liabilities for which the PCC is held responsible in law. They do not include the accounts of church groups that owe their affiliation to another body nor those that are informal gatherings of church members.
## **Funds**
Endowment funds are funds, the capital of which must be maintained; only income arising from investment of the endowment may be used either as restricted or unrestricted depending upon the purpose for which the endowment was established.
Restricted funds represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and (b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund. Where there is no separate investment, interest is apportioned to individual funds on an average balance basis.
Unrestricted funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted.
## **Income and endowments**
Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate is received.
Grants and legacies are accounted for when the PCC is notified of its legal entitlement to the amount due. Dividends and all other income is accounted for when receivable.
All incoming resources are accounted for gross.
For investment purposes any surplus funds are usually of a short term nature and are kept in interest bearing accounts.
Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at 31st December.
## **Expenditure**
Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the PCC.
The Parish Share is accounted for when payable. Any share unpaid at 31st December is provided for in these accounts as an operational (though not legal) liability and is shown as a creditor in the Balance Sheet. Amounts received specifically for mission are dealt with as restricted funds.
All other expenditure is generally recognised when it is incurred and is accounted for gross.
The pension costs charged in the financial statements represent the contributions payable by the PCC during the year.
Page 9
## **PAROCHIAL CHURCH COUNCIL OF**
## **ST. PHILEMON, TOXTETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2023 (Cont.)**
## **Fixed Assets**
## Consecrated land and buildings and movable church furnishings
Consecrated land and beneficed property is excluded from the accounts by section 10(2)(a) of the Charities Act 2011.
No value is placed on movable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or benefice buildings and moveable church furnishings, whether maintenance or improvement, is written off as expenditure in the SOFA and separately disclosed.
Freehold land and property is not being depreciated, as in the view of the PCC, they are maintained to a sufficiently high standard which ensures that the market value of the properties is not less than the carrying value shown in the accounts.
## Fixtures, fittings and office equipment
Equipment used by the church is depreciated on a straight line basis over 4 years. Individual assets with a purchase price of £10,000 or less are written off when the asset is acquired.
## Investments
Investments are valued at market value at 31st December.
## Current Assets
Amounts owing to the PCC at 31st December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectible.
Short-term deposits include cash held on deposit either with the CBF Church of England Funds or at the bank.
## Reserves
It is the intention of the trustees to maintain sufficient unrestricted reserves to meet the current level of running expenses of the organisation.
Page 10
## **PAROCHIAL CHURCH COUNCIL OF ST. PHILEMON, TOXTETH NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31ST DECEMBER, 2023 (Continued)**
|**2**
**3**
**4**
**5**|**Unrestricted**
**Funds**
**£**
**Donations and legacies**
Planned Giving:
Tax Efficient Giving
87,138
Income Tax Recoverable
22,424
Other planned giving
8,232
0
Gift Days
0
Donations
0
Grants
32,808
150,602
**Charitable activities**
Bookstall
303
12,820
Wedding and Funeral Fees
752
Club Activities/Outings/Holidays
12,497
26,372
**Other trading actvities**
Fairs/fundraising
0
0
**Investments**
Rent from Investment Property
12,400
4,241
16,641
Dividends and Interest (including any
reclaimed tax)
Collections (open plate) at all
Services
Rent from Church Hall/Church
Property|**Restricted**
**Funds**
**£**
1,600
2,900
0
0
10,950
13,211
17,033
45,694
0
0
0
0
0
0
0
0
567
567|**TOTAL**
**Unrestricted**
**2023**
**Funds**
**£**
**£**
88,738
96,350
25,324
23,802
8,232
5,359
0
312
10,950
0
13,211
0
49,841
8,250
196,296
134,073
303
852
12,820
10,921
752
794
12,497
1,238
26,372
13,805
0
675
0
675
12,400
8,250
4,808
2,231
17,208
10,481|**Restricted**
**Funds**
**£**
1,300
5,425
0
20
3,580
23,354
87,232
120,911
0
0
0
0
0
0
0
0
99
99|**TOTAL**
**2022**
**£**
97,650
29,227
5,359
332
3,580
23,354
95,482
254,984
852
10,921
794
1,238
13,805
675
675
8,250
2,330
10,580|
|---|---|---|---|---|---|
Page 11
## **PAROCHIAL CHURCH COUNCIL OF ST. PHILEMON, TOXTETH NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31ST DECEMBER, 2023 (Continued)**
|**6**
**7**|**Unrestricted **
**Funds**
**£**
**Charitable Actvities**
Missionary Giving
OMF International UK
3,775
CCW
3,775
North West Partner
2,516
Servants of the Word
0
ICR Madrid
2,516
Central Church Warrington
0
Sundry Donations (<£1,000 each)
1,186
Ministry:
Parish Share
20,627
Minister - Housing
443
Minister - Expenses
264
Co-Pastor Salaries
30,277
Co-Pastor Pension costs
5,812
Co-Pastor - Housing
9,076
Co-Pastor - Expenses
360
Lay Workers - Salaries
12,538
Lay Workers - Pension costs
1,389
Lay Worker expenses & costs
1,900
Cleaning and Waste Disposal
581
Rent and Rates
1,212
Heat & Light
10,204
Insurance
2,448
Repairs & Renewals
5,918
Service Expenses
1,984
Waterfront Ministry Costs
0
Youth Work/Children's work
915
Club Activities/Outings
3,810
Education and Training Expenses
6,527
Bookstall costs
356
Weekend Away
8,572
Data Protection/Copyright Fee
631
Telephone
394
Depreciation
0
Legal and professional fees
87
Independent Examiner's Fees
2,136
Sundries
771
Postage, Printing & Stationery
1,936
144,936
**Raising funds**
Fundraising Costs
0
Investment Property Costs
2,556
2,556|**Restricted**
**Funds**
**£**
0
0
0
0
0
0
0
0
0
8,940
3,134
1,918
0
27,880
0
0
0
0
0
0
0
0
14,630
0
0
0
0
0
0
0
0
0
0
0
0
56,502
0
0
0|**TOTAL**
**Unrestricted**
**2023**
**Funds**
**£**
**£**
3,775
2,712
3,775
2,712
2,516
1,808
0
0
2,516
1,808
0
610
1,186
0
20,627
20,419
443
6,824
264
171
39,217
37,859
8,946
6,412
10,994
1,301
360
330
40,418
15,465
1,389
455
1,900
178
581
584
1,212
1,164
10,204
5,052
2,448
2,270
5,918
4,167
1,984
2,392
14,630
0
915
605
3,810
1,637
6,527
1,750
356
894
8,572
1,117
631
582
394
378
0
4,540
87
0
2,136
2,016
771
746
1,936
851
201,438
129,809
0
0
2,556
5,095
2,556
5,095|**Restricted**
**Funds**
**£**
0
0
0
3,080
0
70,598
500
0
0
0
26,328
6,412
3,146
96
34,329
3,895
13,141
0
0
0
0
0
15
10,136
688
6
7,736
0
0
0
0
0
3,000
0
0
0
183,106
0
0
0|**TOTAL**
**2022**
**£**
2,712
2,712
1,808
3,080
1,808
71,208
500
20,419
6,824
171
64,187
12,824
4,447
426
49,794
4,350
13,319
584
1,164
5,052
2,270
4,167
2,407
10,136
1,293
1,643
9,486
894
1,117
582
378
4,540
3,000
2,016
746
851
312,915
0
5,095
5,095|
|---|---|---|---|---|---|
Page 12
**PAROCHIAL CHURCH COUNCIL OF ST. PHILEMON, TOXTETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2023 (Continued)**
## **8**
|**Staff Costs**
Wages and Salaries
Social Security Costs
Pension Costs|**2023**
**£**
79,635
1,730
10,335
91,700|**2022**
**£**
113,981
4,211
17,174
135,366|
|---|---|---|
The wages paid relate to various Church Workers and the Co-Pastors. No employees (2022: None) received more than £60,000 remuneration during the year.
## **9**
## **10**
|**Tangible Fixed Assets**
**COST OR VALUATION**
At 1st January, 2023
Additions
Disposals
At 31st December, 2023
**DEPRECIATION**
At 1st January, 2023
Charge for the year
Disposals
At 31st December, 2023
**NET BOOK VALUE**
At 31st December, 2023
At 31st December, 2022
**Investments**
**Historical Cost of Investments**
**Historical Cost of Investment Property**
1,390 shares (2018: 1,390 shares) CBF
Investment Fund.
CBF Deposit Funds
11,711 shares (2018: 11,711 shares) CBF
Joint Investment Fund.
St John's PreSchool Nursery
St John's Youth and Community Centre|**Freehold**
**Land &**
**Buildings**
**£**
0
0
0
0
0
0
0
0
0
0
**2022**
**Market**
**Value**
28,719
20,874
17,094
253,817
96,183
416,687
38,859
169,699|**Fixtures**
**and**
**Fittings**
**£**
43,645
0
0
43,645
43,644
0
0
43,644
1
1
**Additions**
**Net**
**(Disposals)**
**Gain/loss on**
**in year**
**Revaluation**
0
2,702
0
2,221
0
0
0
0
0
0
0
4,923
0
0
0
0|**Total**
**£**
43,645
0
0
43,645
43,644
0
0
43,644
1
1
**2023**
**Market**
**Value**
31,421
23,095
17,094
253,817
96,183
421,610
38,859
169,699|
|---|---|---|---|
The Youth and Community Centre and the PreSchool Nursery was on sale at a valuation of £350,000. The trustees consider that this is their fair value at 1st December 2023, as it was sold in January 2024 for this amount.
Page 13
## **PAROCHIAL CHURCH COUNCIL OF ST. PHILEMON, TOXTETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2023 (Continued)**
|**11**
**12**|**Debtors:**
Amounts receivable within one year
Income Tax recoverable
Other Debtors
**Creditors: Amounts falling due within one year**
Accruals and Deferred Income
Other creditors|**2023**
**£**
47,800
1,707
49,507
**2023**
**£**
2,136
869
3,005|**2022**
**£**
43,300
0
43,300
**2022**
**£**
2,016
1,941
3,957|
|---|---|---|---|
## **13 Analysis of Net Assets by Fund**
|Fixed Assets
Current Assets
Current Liabilities
Long Term Liabilities
**Fund Balance**|**Unrestricted**
**Funds**
**£**
350,001
214,188
(3,005)
0
561,184|**Restricted**
**Funds**
**£**
0
50,551
0
0
50,551|**Endowment**
**Funds**
**£**
71,610
0
0
0
71,610|**Total**
**£**
421,611
264,739
(3,005)
0
683,345|
|---|---|---|---|---|
## **14 Fund Details**
The restricted funds comprise various funds as set out below including; building funds, grants received in connection with the costs of employing lay workers, roof repairs, a new church plant and grants and donations received for projects and staff training together with various specific donations received to be forwarded onto Christian missionary societies.
The endowment funds represent permanent endowments from donors many years ago, which require the money to be spent on various property repairs, sick and poor fund, Sunday School and Staff Expenses.
|**15**|**Designated Funds**
**2022**
**£**
Unrestricted Funds are as follows:
**PCC St. Philemon**
General Funds
67,930
Roof Fund
10,000
PLA Fund
5,000
Capital Asset Fund
1
Hardship Fund
450
**St. John's Youth & Community Centre**
Youth & Community Fund
29,214
Capital Asset Fund
253,817
**St. John's PreSchool**
PreSchool Funds
620
Capital Asset Fund
96,183
463,215|**Transfers**
**Income**
**Expenditure**
**Gains/Losses**
**£**
**£**
192,659
146,792
35,496
0
0
10,000
0
0
5,500
0
0
0
0
700
850
936
0
0
0
0
0
20
0
0
0
0
0
193,615
147,492
51,846|**2023**
**£**
149,293
20,000
10,500
1
600
30,150
253,817
640
96,183
561,184|
|---|---|---|---|
Page 14
## **PAROCHIAL CHURCH COUNCIL OF**
## **ST. PHILEMON, TOXTETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2023 (Continued)**
|**16**
**17**|**Restricted Funds**
**2022**
**£**
Restricted Funds are as follows:
**PCC St. Philemon**
Administrator Salary Fund
900
Assistant Staff Fund
0
Central Church Warrington
11,700
Persion Ministry Fund
25,300
JSH Persion/Kurdish Fund
257
Kitchen Fund
13,628
Waterfront Ministry Fund
59,946
Gift Day Fund
820
Go Chatter Website Fund
87
112,638
**Endowment Funds**
The Endowment Funds are as follows:
**PCC St. Philemon**
Sunday School
Assistant Staff Fund
Sick & Poor
Repairs
General Church Fund|**Transfers**
**Income**
**Expenditure**
**Gains/Losses**
**£**
**£**
**£**
7,878
7,478
0
9,933
9,933
0
0
0
0
0
4,764
0
3,000
3,257
0
0
0
0
12,000
20,100
(51,846)
13,450
10,970
0
0
0
0
46,261
56,502
(51,846)
**Realised**
**Transfers/**
**2022**
**Gains/Losses**
**Gains/Losses**
**£**
**£**
**£**
3,450
0
244
5,660
0
567
754
0
80
41,166
0
4,029
15,657
0
3
66,687
0
4,923|**2023**
**£**
1,300
0
11,700
20,536
0
13,628
0
3,300
87
50,551
**2023**
**£**
3,694
6,227
834
45,195
15,660
71,610|
|---|---|---|---|
## **18 Transfer Between Funds**
In the year it was ascertained that grants received from a donor for the Waterfront project had been incorrectly recorded as restricted funds instead of unrestricted. Hence a transfer of £51,846 was made between these funds to show the correct presentation.
## **19 Related Parties**
During the year the charity paid working expenses and housing costs of £707 (2022: £6,992 to Rev'd Elfick ) to/on behalf of the Rev'd Allen and salary, pension, housing costs and expenses of £44,103 (2022: £45,486) to/on behalf of Rev'd Simmons, salary and pension costs of £13,017 (2022: £32,740) to Rev'd Michael Allen and salary and pension costs of £12,287 (2022: £3,786) to Gabriel Chiu in respect of costs incurred and work done on behalf of the charity.
## **20 Capital Commitments**
The PCC has no Capital Commitments at the accounting date ( 2022 £Nil ).
## **21 Contingent Liabilities**
The PCC had no contingent liabilities at 31st December 2023 (2022 £Nil):