## St Swithin’s Walcot **Annual Report 2024** For the display of God’s splendour **Contents** Rector’s Report Church Wardens’ Report Children and Youth Students and Young Adults Worship Prayer Tree Global Mission Partners Near Neighbours PCC Report Financial Report **4 6 8 12 13 15 16 18 21 22** **Rector’s Report** Tim Gleghorn St Swithin’s is a grateful church. We are a church that is deeply rooted in gratitude, grateful for over 1000 years of Christian worship and service, for the life of Christ and the Spirit amongst us in the present and full of hope in the future. As we look back on 2023 there will be so much personally and corporately to celebrate and be thankful for. While I recognise there has been much to weep and grieve over, it’s important to remember thankfulness. I hope you take some time to count your blessings and ‘if necessary name them one by one and it will surprise you what the Lord has done.’ Thank you so much for every part you’ve played in the life of St Swithin’s from praying, organising, texting, encouraging, worshipping, cooking, cleaning, making tea, tech-ing, welcoming, serving, stewarding, reaching out, meeting, scooping others up. Every small act of loving service makes a difference. As we journeyed through the book of Acts in 2023, there has been both a wonder of God’s wonderful birthing of the church with ‘normal but willing people’ as well as being very challenged by the gap between their and our experience. In Acts it’s clear they were looking for people ‘full of the Spirit and wisdom’ and God is manifestly at work in power. God is looking for a people to partner with; we’re not doing Him a favour, but offering all of ourselves in humble service. I love the stories small and large where others recognise God at work in and through us as a church, when ‘We display God’s Splendour’. We have some very big challenges ahead of us, in mission, in our culture, in the work we need to do, but we have a big God, who is with us and there is no reason to fear. “Come Lord Jesus, Come. The grace of the Lord Jesus be with God’s people. Amen.” There is plenty of room for us to grow in all directions and my prayer is that God would continue to fan into flame the gift of St Swithin’s and that we would burn more brightly together over the coming year in a world that desperately needs the Hope we have. **Church Wardens’ Report** Becs Armstrong & Alastair Gibson Over the last year it seems that almost every Sunday there are new faces at St Swithin’s! We believe this is a tangible sign of God at work in our church family and is reflective of His love being shown in the welcome received by everyone coming through our doors. We rejoice and give thanks for this. We are so grateful for the steadfast and faithful leadership that Tim brings to our church. He is truly a leader who ‘keeps watch over us as a man who must give an account’ (Hebrews 13: 7, adapted). We are delighted that he can take a sabbatical this year and pray that this will be a time of refreshment and renewal for the whole family. It is always a challenge to balance the requirements of maintaining a Grade II* Listed Church building with the need and desire to invest to move forward in ministry. The PCC has agreed a strategy for the next three years which, we believe, represents a reasonable balance. There are always, of course, unexpected events, such as the theft of lead off the Warden’s Vestry roof, to deal with - the Quinquennial Inspection in June this year may well throw up others! Special thanks are due to Matthew Judd for his superb refurbishment of the Warden’s Vestry. We are also excited that the crypt flooring is due to be replaced in June. We are, as ever, grateful for our staff team and everyone who helps to support our ministry activities in so many ways, seen and unseen – you are so very much appreciated! We’d like to express particular thanks to David Chambers, who took over as Treasurer this year, and the Finance Team. Their hard work has ensured that our financial monitoring and other systems are very much up to date and fit for purpose. There is an ongoing challenge to meet the cost of resourcing our ‘everyday ministry’ going forward, which requires an increase in the level of overall giving by £20,000 this year and an additional £20,000 next year. As God continues to bless our fellowship with growth, we expect to see this reflected in the level of regular giving. This does, of course, mean that each of us should heed the exhortation of St Paul in 2 Corinthians 9:7, to ‘give what we have decided in our heart to give, not reluctantly or under compulsion, for God loves a cheerful giver’. are so many other ways to offer your gifts to serve the Lord’s work here at St Swithin’s. Please come and talk to us about them! ‘Now to Him who is able to do immeasurably more than all we ask or imagine, according to His power that is at work within us, to Him be glory in the church and Christ Jesus throughout all generations, for ever and ever! Amen’ (Ephesians 3:20-21). **Children & Youth Report** Suzi Darwin ## **Stay and Play Group** Parents, Carers and Toddlers On Thursday mornings we run our stay and play toddler group. All preschool aged children are welcome with a parent or carer to attend. We provide tea/coffee and biscuits for the adults, whilst we have loads of toys, crafts, snack time and songs for the children. We are so pleased with how the group is growing and feel that we are building a great community of parents and children who benefit from the social support. Each week around 20 children attend and many families from this group have also come to our other events such as Easter Adventure, Craftmas and Christmas Nativity service. ## Prayer point: Please pray for opportunities to share the gospel with the people that attend and pray that those that attend come to meet Jesus. ## **Bubbles** ## 2 years old to Reception Last year we had decided to pause Bubbles on Sunday morning. However, as the number of children have increased in this age range we now use the Bubbles room to live stream the service and provide toys for the children. Parents/carers can watch the service together and children are free to play and make lots of noise! ## Prayer points: Please pray for the children and families in this age group as this is a busy and stretching time for families. Pray that they would know God’s peace and that they would feel a valued part of the church family. ## **Splash** Reception to Year 2 Since this January, Splash has been working through a series called ‘The I Ams’. It has been a wonderful opportunity to teach the children more about the character of Jesus. After last year focusing stories throughout the Bible it felt the right time to go more in depth about who Jesus was. The children of Splash really enjoy their time together in these sessions and are building lovely relationships which I hope will help sustain and strengthen their faith in years to come. ## Prayer points: Please pray for wisdom for the leaders as they prepare. Pray for the children that their hearts would be kept soft and what they learn would create strong foundation for their own faith. ## **Lightsharers** Year 3 to 6 On Sunday mornings Lightsharers have been working through a series called ‘God is faithful’, looking at characters in the Old Testament. Friendships have been deepening in this age group and we also have new volunteers which has been brilliant! ## Prayer points: Pray for the children in this age group that as they grow in maturity that they start to grasp the gospel message and start to choose Jesus for themselves. Please pray that they enjoy coming to church, have fun, make friends and generally feel that church is a safe, fun space for them to be. Please pray for the leaders for creative ideas and wisdom. **Children & Youth Report** Suzi Darwin ## **Ignite** Ignite meet on Sunday mornings, once a month on a Friday evening at St Swithin’s and once a month attend a city wide youth night called A2. On Sunday mornings, Ignite are working through a series on The Sermon on The Mount, bringing a real depth of understanding to what it means to be a Christian. Great discussions have come from this but there are challenges as we aim to communicate to a broad age group in an engaging way. ## Year 7 to 11 Friday nights have been a brilliant time of fellowship and fun, providing a space for the youth to open up and build trust with their peers and leaders. We eat a lot of pizza, play card games and enjoy using the building for wide games such as murder in the dark. I hope that this soon becomes a place where the young people can invite their friends so that it can be a place for other young people in the city to explore their questions around faith and hopefully lead to more people meeting Jesus. ## Prayer points: Please pray for our young people as they go though what is an extremely pressurized time in the life. The pull of the world is strong at this age and being different can be so hard. Please pray for our young people to have boldness in their faith and a genuine love for Jesus that goes beyond their parents and upbringing. Please pray that they would know how loved and treasured they are by God and this church family. ## **General Prayer Requests** Please also pray for more volunteers for the all the teams, so that they can have input from a range of adults who are passionate about children’s ministry. Please continue to pray for the children at St Swithin’s that they would enjoy their time and have open hearts towards want God is wanting to teach them. Please pray for wisdom for all of our leaders to help communicate God’s message in an engaging and age-appropriate way. **Worship** James Collie **Students and Young Adults** James Collie Our student and young adult ministry is in a season of flux, yet even as things are currently more programme-light, God has been at work behind the scenes. We had a few graduates move onto pastures new in the summer. We said goodbye with sadness, but also with tremendous excitement for what God has in store for them. Like many of the students who have been with us over the last 7years, we witnessed these recent graduates make significant personal growth during their time in Bath. And that’s growth across the board; in their faith, their gifts, their sense of calling, their wellbeing and their relationships. It has been a privilege to walk with them; witnessing their courage, commitment and openness; and to watch God at work in their lives. This cohort moving on means our Student Life Group is currently too small to run. So we have been putting more focus into regular one-to-one discipleship, and ad hoc hospitality, rather than a weekly group Bible study. In these one-to-ones, myself and others have been struck by how complicated and weighty the challenges are for those embarking on adulthood. Culture is throwing so much at this generation. Yet, I observe an increasing desire to not simply get swept up in the present, but to humbly find a way of life and faith that will last a lifetime and that will help them to stand in the face of current storms. It is also hugely encouraging to see the intentionality of a number of young adults who have recently joined us. There seems to be a tremendous desire from newcomers to get fully stuck into the life of the church, especially into Life groups. Plus the warmth of welcome expressed by the whole church has been beautiful and significant in seeing growth. God is also clearly at work on Bath’s university campuses. So whilst I thank you for praying for the ministry at St Swithin’s, I would also urge us to pray for all the students in our city, especially those bearing witness and those coming to faith. Worship has many facets, regardless of whether we are gathered altogether, or scattered and worshipping in our day-to-day lives. Wherever we find ourselves, the primary driving force behind our worship should always be to celebrate and give thanks for who He is and all He has done for us;. And in a community where our vision is to ‘live for the display of His splendour’, there really is no wriggle room. We are here to bring Him glory. So it has been a delight to see praise increasingly flow, and become more and more instinctive for us as a church family these last 12months. To welcome new people to the church who have a real passion for worship and are encouraging us to wake up to praise from the pews. To witness our children come alive as they learn action songs together downstairs that give voice to their love for God. To hear of people from our church stepping up and leading worship in their Life groups and around the city in other settings. To be part of a citywide, monthly worship gathering called ‘The Well’ that’s simply all about Jesus. This may sound like an overly joyful portrayal of the past year, but I am conscious that praise often takes tremendous sacrifice. I often speak to people in our church who find their lives in complete disarray and yet find themselves completely at home worshipping at the feet of Jesus. I think of the households for whom it is a real battle to simply get through the church doors, or to be at home with the way we do things. Yet they come not because of what they want to gain, but because they want to bless and give away. I think of those who have taken brave steps to share of themselves and lead us in some way this last year, even when it feels completely beyond their abilities or capacity. There are many opportunities and areas of growth ahead of us, from how we develop our PA resources, to how we grow in all-age worship, to how we grow in responding to the Spirit. Yet I am immensely grateful to God and to all of you for what this last year has been. **Prayer Tree Report** Brian May Whenever you or anyone you know needs urgent prayer, a team of twenty-five church members are there to pray within minutes. Just text or phone 07974 387782 with your request. The leader in just a couple presses will send it by ‘WhatsApp’, text or by a phone call. All requests are kept confidential and must not be made the subject of general conversation. Since I began taking over the leadership in October 2020 we have dealt with two hundred and sixty requests and seen some good results with others pending the Lord’s timing. The group has been made up of the more elderly members of the church, but it is good having some of the younger side joining this ministry at last. The Prayer Tree was originally known as the Prayer Chain which could be broken at the weakest link. Now we have a tree, so the message goes out to all the branches at once. Where ever the ‘prayer’ is, work, home or travelling a quick ‘Arrow’ prayer can be given or more in depth if possible. Do please consider whether you could be a branch in our tree. Thank you to the team for all your support. Do please consider whether you could be a branch in our tree. Text me, the trunk, with your needs or most of all to be a branch, on 07974387782. **Global Mission Partners Report** Brenda Carter, Nicola Stuffins & Rosemary Bird Our global partners continue to excite and encourage us with their selfless work, often in inhospitable environments. We maintain close relationships with them all, but especially our primary partners. We’ve had insights into their lives and work and the opportunity to increase our financial giving. Prayer being the seed bed of all they do, they would welcome your involvement in prayer. ## **Our Primary Partners** Paul & Alison Guinness. _Burundi_ Leadership training in mobilising mission worldwide. ## **Our Local Partner** Genesis Trust Bath Support for homeless and vulnerable people. ## **Our International Partners** This past year we enjoyed seven visits by establishing two events, which take place regularly through the year. The first, a Saturday Coffee Morning. The second, the Church’s Sunday Lunch. Most of all we welcome visits from all our partners whenever they are free to share their work and inspiration with us. Their experience of mission from very different parts of the world and different cultures is equally varied as they follow the vision God has given them. We are very happy to visit Life Groups to give a comprehensive picture of our Global Partners. We would also be happy to send Life Group leaders brief prayer requests from our primary partners. Maybe Life Groups could ‘adopt’ a partner? Please see a member of the team for the above or updates and prayer requests. Katia Rock ## _Brazil_ Church planting and evangelism. CHIT. Children’s Home _India_ Christ centred residential care and education. ## David & Olivia Gatehouse _South East Asia_ Equipping and preparing Asian believers on their return home. ## The Warehouse. ## _South Africa_ Wycliffe Bible Translators ## Tearfund. Christian relief & Development. CMJ. Church’s Ministry to Jewish People. Serves the Church in its response to poverty, injustice & division. **Near Neighbours Report** Keith Stuffins Which is the greatest commandment? Love the Lord your God… Love your neighbour as yourself. ## _Mark 12:29-31_ We have been thinking and praying for our neighbours in Walcot Street. This year change is ever present. Some businesses have ceased trading – The Moghul Indian Take Away closed its doors for the last time. Some businesses have had new life breathed into them – The Curfew has a new manager Mick who is building a large following. And some businesses seem to go on for ever – last month Sheila from Jack and Danny’s celebrated her 80th birthday with no sign of retiring; she has been in the street since 1967. August marked the sudden passing of the Walcot Street lynch pin Adrian Dolan of Bath Aqua Glass. He enthusiastically devoted much time to decorating the street with flowers, art and bunting. With great ability and much good humour he chaired the Walcot Street Traders’ Association. At his funeral hundreds of people walked behind the horse drawn hearse down Walcot Street to the Abbey where there was standing room only. Roger Driver and Tim Gleghorn took the service (the ministers from the churches that top and tail the street). The Traders’ Association is now re-named the Walcot Artisan Quarter, partly in recognition that not all members are traders, such as the churches. There is now a new chair: Jay Risbridger from the Green Stationery Company. Taking Christmas cards from the church to the businesses in the parish was a richly rewarding task, meeting both familiar faces and many new neighbours. Let us continue to search for ways to show our love to our Near Neighbours. **PCC Report** Catherine Harrison Smith ## **PCC Membership 2022/2023** ## Tim Gleghorn (Rector), Rebecca Armstrong (Churchwarden), Alastair Gibson (Churchwarden) The PCC had an Away Morning in February to pray together and discuss the Church’s Vision for the coming years, as well as starting to discuss more complex things like Prayers of Love and Faith. We are particularly interested in how our vision will develop over the coming years as our site develops and we look to expand our outreach. Prayer for these plans is greatly appreciated! The PCC have received regular Financial reports from David Chambers (Treasurer) and Operations Updates from the Operations Committee. We are grateful to all of them for their hard work and clear information. ## **Elected members:** Brenda Carter, David Chambers (Treasurer), Dan Darwin, Catherine Harrison-Smith (Secretary), Matthew Judd, Andy Waterman The PCC supported lots of the initiatives this year and planned for the year ahead, including all the activities over Advent, the Summer Series for Life Groups, Giving Sunday and the Church Away Day in September, to name a few! The PCC would like to thank everyone involved in giving their time to help the community of St Swithin’s grow and thrive in the past year. We thank those who are stepping down from the PCC this April for their service. Prayer would be welcomed for any new members elected at the APCM and for the year ahead that we can continue the good work of St Swithin’s. **Financial Report** Sheila Andrews **Balance Sheet** David Chambers It has been really good to help change our finance system from paper to a more robust and modern online operation. In the past few years I was working with bank statements, which came through every month but were in arrears. It meant I spent at least three hours every week checking paper files for income and expenditure against our paper bank statements. We were never up to date and the end of year financial operation was a time consuming job for Nicola Stuffins, our then Acting Treasurer. These days, with our new system ExpensePlus installed early last year, our financial position can be accessed instantly by logging into this system. Although paper records can be good and reassuring as I can always look back and see what I’ve been doing, the new system is quicker, more efficient and up to date. One practical advantage is that we have been able to invest more of the money held in the current account into a savings account with interest. This has meant we have earned about £5,000 on our investment in the past year. Another positive advantage of our new system is the installation of a card donating station. This means anyone who wishes to give to the church or church activities can use the their card at the donation station. All in all, it has been a good and eventful year. |**Unrestricted**
PCC General Fund
Buildings
Maintenance
Designated Fund
**Restricted**
Overseas Mission
**Endowment**
Monument Fund
Total Funds|Bal b/fwd
1/1/23
£
Income
& Gains
£
Expenditure
& Losses
£
Transfer
£
Bal c/fwd
31/12/23
£
222,459
204,998
(226,694)
-
200,763
19,000
-
-
-
19,000| |---|---| ||241,459
204,998
(226,694)
-
219,763
13,881
-
-
-
13,881
9,051
-
-
-
9,051| ||264,391
204,998
(226,694)
-
242,695| *¥* *T..*;- ' # **ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023** # **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALCOT, BATH** **REGISTERED CHARITY NUMBER: 1142099** Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS 1 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALCOT, BATH** ## **CONTENTS** |Page 3|Legal and Administrative Information| |---|---| |Pages 4 to 6|Trustees' Report| |Page 7|Statement of Financial Activities| |Page 8|Balance Sheet| |Pages 9 to 19|Notes to the Financial Statements| |Page 20|Independent Examiner's Report| 2 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALCOT, BATH** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **CHARITY NUMBER** 1142099 **WORKING NAME** Walcot PCC **DATE OF REGISTRATION** 25th May 2021 **START OF FINANCIAL YEAR** 1st January 2023 **END OF FINANCIAL YEAR** 31st December 2023 **TRUSTEES AT 31ST DECEMBER 2023** Revd Tim Gleghorn (Chair) Catherine Harrison-Smith (PCC Secretary) David Chambers (Treasurer) Matthew Judd Andy Waterman Alastair Gibson Dan Darwin Brenda Carter Rebecca Armstrong **RECTOR CURATE** Revd Tim Gleghorn (Chair) **WARDENS** Alastair Gibson Rebecca Armstrong **LEGAL STATUS** Excepted **GOVERNING INSTRUMENT** Trust Deed Dated 26th January 1987 **OBJECTS** Promoting in the Ecclesiastical Parish the whole Mission of the Church. **CORRESPONDENCE ADDRESS** Walcot Church Office St. Swithin's Church The Paragon Bath BA1 SLY **PRIMARY BANKERS** National Westminster Bank Plc 250 Bishopgate London EC2M 4AA **INVESTMENT MANAGERS** CCLA Investment Management Limited One Angel Lane London EC4R 3AB **INDEPENDENT EXAMINERS** Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS 3 ## **THE PAROCHIAL CHURCH COUNCIL OF** ## **THE ECCLESIASTICAL PARISH OF WALCOT, BATH** ## **TRUSTEES' ANNUAL REPORT** ## **FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **Structure, Governance and Management** The Parochial Church Council is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The appointment of PCC members is governed by and set out in the Church Representation Rules. The PCC is chaired by the Rector, and in their absence the Vice Chair. The PCC has adopted a policy of having no employees in its membership. The PCC acts as managing trustee for the following charitable trusts: - The Hickes Memorial Fund - The Cannings Collins Charity - The EM Gilmore Church Upkeep and Repair Charity - The Reverend James Hewitt Bumpstead Charity - Bath Walcot Parochial Trusts. In addition, the PCC has the right to nominate two Foundation governors to the governing body of St Andrews Church School. A member of the PCC also acts as trustee for Christchurch, a ‘free’ Church of England church within Walcot Parish. The PCC does not have a formal induction process for new members. Responsibility for key areas, such as health and safety, disability discrimination and child protection, is devolved to specific members. Members are encouraged to attend relevant training courses, such as those organised by the Diocese of Bath and Wells, on an ad hoc basis, and to keep up to date with relevant legislation in their area of responsibility. Every trustee has completed the Church of England Safeguarding Awareness and Foundation training courses. The PCC meets, on average, six times a year. Decisions are made on a simple majority basis. The operations committee is delegated to carry out the routine work of the PCC between each meeting. The standing committee is delegated to approve urgent issues on behalf of the PCC on any matters requiring immediate attention. It comprises the two churchwardens, treasurer, PCC secretary (or in their absence an elected member of the PCC) and the Incumbent. The PCC has policies in place to deal with major risks that it is perceived to be exposed to, namely health and safety, financial irregularities, and child protection. The PCC has appointed Catherine Harrison-Smith as volunteer Safeguarding Officer. ## **Objectives and Activities** The workstreams forming part of our mission and ministry vision have continued to make progress. Several initiatives were delivered including the Slavery and Justice team leading a Sunday morning service focused on forgiveness and modern-day slavery, and a successful in-person Alpha Course in the autumn. The downstairs kitchen and café area have been sublet to Honey Café Ltd, which serves coffee, cakes and lunches, Tuesday to Saturday each week. This has opened up the building and made it a welcoming community venue throughout the week and is proving to be a success. The smaller kitchen upstairs has been refurbished to allow independent catering for events in the main hall. Energy-saving measures include a gas boiler management system, an electricity-monitoring system to pinpoint high consumption, and replacement of multiple lights with low- power LEDs. The computer used for large- screen presentations was upgraded and also delivers a livestream feed for remote attendees. The three staff continue to develop and deliver the administrative and pastoral aspects of the church. The connections between St Andrews Church Primary School and the church continue and we support the incoming head teacher. 4 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALCOT, BATH** ## **TRUSTEES' ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **Financial Review** A new online finance system has been introduced, moving to paperless operation with online approvals and payments. Gift Aid administration has also been moved online using ChurchSuite. Card payments are now accepted for donations and invoice receipts. Most payments are made through online banking and direct debit requiring dual authorisation; smaller expenditure can be paid by assigned business credit cards. The PCC has prepared the 2023 accounts on the accruals basis. Unrestricted funds show a net deficit in the year of £25,759 before gains on investments. At the end of the year the unrestricted funds totalled £219,763 of which of which £200,763 are ordinary unrestricted funds and £19,000 of unrestricted funds has been designated as a Building Maintenance Fund by the PCC. At 31 December 2023 the unrestricted funds were made up of: - Bank and short-term deposits (£157,385) - Tangible fixed assets (£2,433), - Debtors (£1,899) - CBF Investment Shares valued at £47,244 - Net of short-term creditors of £7,142 and deferred income of £2,434. ## **Restricted Funds** Part of a legacy received in 2019 is restricted to supporting overseas missionary activities; there have been no expenses in 2023 and the balance in this fund remains at £13,881. The interest income was added to our general funds and spent on outgiving. ## **Endowment Funds** The balance of £9,051 at the end of the year represents the endowed Monument Funds. Income from shares held by the diocese is required to be spent, first on maintaining the graveyards, with any surplus spent on church building maintenance. There was no expenditure required for graveyard maintenance and so all dividends received were added to the General Fund and paid out in full towards building maintenance. ## **Plans for Future Periods** ## **Building and Infrastructure Review** The Quinquennial Report (five-yearly review of building condition) was due to be completed in 2023 but is now scheduled for April 2024. ## _**Financial Stability**_ Following a review of the financial position at the end of 2023, the PCC approved a medium-term financial plan with two main themes: - 1) Invest excess reserves to repair and improve the church building over the following three years. - 2) Campaign to increase income sufficiently to eliminate our annual deficit by the end of 2025. ## _**Local Partnerships**_ We remain committed to working in partnership with local communities and organisations. ## **Reserves Policy** The PCC has agreed that we should retain a long-term unrestricted reserve of three months of current expenditure (now being around £60,000), which is felt to represent a sensible balance between prudence and faith. This is in addition to a designated building fund of £19,000 and any restricted or endowment funds. ## **Investment Policy** It is our policy to invest cash balances that are not required to fund current working capital requirements with the CBF Church of England Deposit Funds. In addition, we have funds invested in CBF Investment Fund Income Shares to generate annual dividend income. 5 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALCOT, BATH** ## **TRUSTEES' ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **Statement of Trustees’ Responsibilities** The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable Law and the Generally Accepted Accounting Principles (GAAP) including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). The Law applicable to Charities in England and Wales 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 the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to: - Select suitable accounting policies and then apply them consistently; - Observe the methods and principles in the Charities SORP; - Make judgments and accounting estimates that are reasonable and prudent; - State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; - Prepare the financial statements on the going-concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them 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/constitution. 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. 27 March 2024 Approved by the Trustees on ………………………………………………………………………………………………………………… Signed on their behalf by Trustee …………………………………………………………………………………………………………… Printed Name: ## DAVID CHAMBERS 6 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALCOT, BATH** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023** |||Unrestricted|Restricted|Endowment|**TOTAL**|**TOTAL**| |---|---|---|---|---|---|---| ||**Notes**|Funds|Funds|Funds|**2023**|**2022**| |||£|£|£|£|£| |**INCOMING RESOURCES**||||||| |**Incoming Resources from Generated Funds**||||||| |Donations, Grants & Legacies|**3a**|166,415|-|-|166,415|168,005| |Investment Income|**3b**|10,058|-|-|10,058|6,430| |Charitable Activities|**3c**|23,751|-|-|23,751|24,467| |Other Incoming Resources|**3d**|711|-|-|711|921| |**TOTAL INCOMING RESOURCES**||**200,935**|**-**|**-**|**200,935**|**199,823**| |**RESOURCES EXPENDED**||||||| |**Costs of Generating Funds**||||||| |Cost of Charitable Activities|**4a**|225,554|-|-|225,554|212,390| |Governance Costs|**4b**|1,140|-|-|1,140|1,212| |**TOTAL RESOURCES EXPENDED**||**226,694**|**-**|**-**|**226,694**|**213,602**| |**NET INCOMING (OUTGOING) RESOURCES**||**(25,759)**|**-**|**-**|**(25,759)**|**(13,779)**| |Funds Brought Forward||241,459|13,881|9,051|264,391|283,931| |Gains/(Losses) on Investments|**9**|4,063|-|-|4,063|(5,761)| |**TOTAL FUNDS CARRIED FORWARD**||**219,763**|**13,881**|**9,051**|**242,695**|**264,391**| Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing. The notes on pages 9 to 19 form part of these financial statements. 7 ## **THE PAROCHIAL CHURCH COUNCIL OF** ## **THE ECCLESIASTICAL PARISH OF WALCOT, BATH** ## **BALANCE SHEET AS AT 31ST DECEMBER 2023** |**Note**
**Fixed Assets**
Tangible Assets
**2**
Investments
**9**
**Total Fixed Assets**
**Current Assets**
Debtors & Prepayments
**11**
Cash at Bank and in Hand
**10**
**Total Current Assets**
**12**
**NET CURRENT ASSETS**
**TOTAL ASSETS**less current liabilities
**13**
**NET ASSETS**
**Funds of the Charity**
General Funds
Designated Funds
**6**
Restricted Funds
**7**
Endowment Funds
**8**
**Total Funds**
**Creditors:**Long Term Liabilities
**Creditors:**Amounts due within one year
2|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**31-Dec-23**
**31-Dec-22**
£
£
**£**
**£**
2,433
-
2,433
3,649
38,192
9,051
47,243
43,181
**40,625**
**9,051**
**49,676**
**46,830**
1,899
-
1,899
98,041
186,875
13,881
200,756
132,071
**188,774**
**13,881**
**202,655**
**230,112**
9,636
-
9,636
12,551
179,138
13,881
193,019
217,561
**219,763**
**22,932**
**242,695**
**264,391**
-
-
-
-
**219,763**
**22,932**
**242,695**
**264,391**
200,763
-
200,763
222,459
19,000
-
19,000
19,000
-
13,881
13,881
13,881
-
9,051
9,051
9,051
**219,763**
**22,932**
**242,695**
**264,391**
7 March 2024| |---|---| ## 27 March 2024 Approved by the Trustees on ………………………………………………………………………………………………………………… Signed on their behalf by Trustee …………………………………………………………………………………………………………… > Printed Name: DAVID CHAMBERS 8 ## **THE PAROCHIAL CHURCH COUNCIL OF** ## **THE ECCLESIASTICAL PARISH OF WALCOT, BATH** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **1. ACCOUNTING POLICIES** ## **Basis of Preparation & Assessment of Going Concern** ## _**Basis of Preparation**_ The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015) (Second Edition, effective 1st January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011. The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes. ## _**Assessment of Going Concern**_ Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. ## _**Changes in Accounting Policies and Methods of Accounting**_ There has been no change to the accounting policies (variation rules and methods of accounting) since last year. ## **Incoming Resources** ## _**Recognition of Incoming Resources**_ These are included in the Statement of Financial Activities (SOFA) when: ▪ the charity becomes entitled to the resources; ▪ the trustees are virtually certain they will receive the resources; and ▪ the monetary value can be measured with sufficient reliability ## _**Incoming Resources with Related Expenditure**_ Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA. ## _**Grants and Donations**_ Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources. ## _**Tax Reclaims on Donations and Gifts**_ Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. ## _**Contractual Income and Performance Related Grants**_ This is only included in the SOFA once the related goods or services has been delivered. ## _**Gifts in Kind**_ Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable. ## _**Donated Services and Facilities**_ These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received. ## _**Volunteer Help**_ The value of any voluntary help received is not included in the accounts. 9 ## **THE PAROCHIAL CHURCH COUNCIL OF** ## **THE ECCLESIASTICAL PARISH OF WALCOT, BATH** **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **1. ACCOUNTING POLICIES (continued)** ## **Incoming Resources (Continued)** ## _**Investments**_ Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at Directors' best estimate of market value. ## _**Investment Income**_ Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue. ## _**Investment Gains and Losses**_ This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. ## **Expenditure and Liabilities** ## _**Liability Recognition**_ Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. ## _**Governance Costs**_ Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advice to trustees on governance or constitutional matters. ## _**Grants with Performance Conditions**_ Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output. ## _**Grants Payable without Performance Conditions**_ These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity. ## _**Investments**_ Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value. ## _**Unrestricted Funds**_ These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities. These represent the remaining income funds of the PCC that are available for spending on the general purposes of the PCC, including amounts designated by the PCC for fixed assets for its own use or for spending on a future project and which are therefore not included in its ‘free reserves’ as disclosed in the trustees’ report. ## _**Restricted Funds**_ These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of appeals for special offerings for specific purposes. ## _**Designated Funds**_ These funds are funds set aside by the trustees out of unrestricted general funds for particular purposes or projects. ## _**Endowment Funds**_ These are restricted funds that must be retained as trust capital either permanently or subject to a discretionary power to spend capital as income, and where the use of any income or other benefit derived from the capital may be restricted or unrestricted. 10 ## **THE PAROCHIAL CHURCH COUNCIL OF** ## **THE ECCLESIASTICAL PARISH OF WALCOT, BATH** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **1. ACCOUNTING POLICIES (continued)** ## **Expenditure and Liabilities** ## _**Pensions**_ The church operates a defined contribution pension scheme. Contributions are accounted for as they become payable in accordance with the rules of the scheme. ## _**Parish Share**_ The diocesan parish share is accounted for when due. ## _**Fixed Assets**_ Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt. ## _**Depreciation Expense**_ Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows: Fixture, Fittings & Equipment Cost 10% - Straight Line Basis ## **2. TANGIBLE FIXED ASSETS** |Cost
01-Jan-23
Additions
Net Book Value at
31-Dec-23
Depreciation
01-Jan-23
Charge
Depreciation at
31-Dec-23
Net Book Value
31-Dec-23
Net Book Value
31-Dec-22|Fixtures
Fittings &
**Total**
Equipment
**2023**
£
£
13,342
13,342
-
-
13,342
13,342
9,693
9,693
1,216
1,216
10,909
10,909
**2,433**
**2,433**
**3,649**
**3,649**| |---|---| The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st December 2023: None 31st December 2022: None 11 ## **THE PAROCHIAL CHURCH COUNCIL OF** ## **THE ECCLESIASTICAL PARISH OF WALCOT, BATH** **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **3. INCOMING RESOURCES** |**a) Donations, Grants & Legacies**
Church House Trust
Collections
Gift Aid Tax Recovered
Gifts & Donations
Grant Income
Legacies
Planned Giving
Voluntary Income
**b) Investment Income**
Dividends
Interest
**c) Charitable Activities**
Church Events
Fees Paid to PCC
Letting of Church Building
**d) Other Incoming Resources**
Sundry Income|Unrestricted
Restricted
Endowment
**TOTAL**
**TOTAL**
Funds
Funds
Funds
**2023**
**2022**
£
£
£
£
£
18,100
-
-
18,100
-
1,552
-
-
1,552
1,010
21,117
-
-
21,117
21,120
20,618
-
-
20,618
11,875
959
-
-
959
20,118
359
-
-
359
8,673
103,065
-
-
103,065
104,669
645
-
-
645
540
**166,415**
**-**
**-**
**166,415**
**168,005**
5,365
-
-
5,365
5,565
4,693
-
-
4,693
865
**10,058**
**-**
**-**
**10,058**
**6,430**
647
-
-
647
6,545
1,352
-
-
1,352
2,187
21,752
-
-
21,752
15,735
**23,751**
**-**
**-**
**23,751**
**24,467**
711
-
-
711
921
**711**
**-**
**-**
**711**
**921**| |---|---| 12 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALCOT, BATH** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **4. RESOURCES EXPENDED** |**Note**
**a) Cost of Charitable Activities**
Building Running & Maintenance Costs
Church Events
Clergy & Staff Costs
**15**
Depreciation Expense
**2**
Donations & Grants
**5**
Fees to Diocese
Letting Costs
Ministry & Administrative Costs
Parish Share
Sundry Expenses
Training Costs
**b) Governance Costs**
Independent Examiners Fees
**12**
Legal & Professional Fees|Unrestricted
Restricted
Endowment
**TOTAL**
**TOTAL**
Funds
Funds
Funds
**2023**
**2022**
£
£
£
£
£
47,714
-
-
47,714
38,988
1,862
-
-
1,862
-
67,158
-
-
67,158
47,679
1,216
-
-
1,216
1,216
12,976
-
-
12,976
12,586
434
-
-
434
766
-
-
-
-
922
7,236
-
-
7,236
20,955
84,522
-
-
84,522
87,202
1,088
-
-
1,088
2,076
1,348
-
-
1,348
-
**225,554**
**-**
**-**
**225,554**
**212,390**
960
-
-
960
1,212
180
-
-
180
-
**1,140**
**-**
**-**
**1,140**
**1,212**| |---|---| ## **5. DONATIONS & GRANTS TO CHARITIES** The PCC has a policy of making grants to Christian missionary organisations and charities. The grants and pledges are analysed below: |Burundi Mission
Children's Homes in India Trust
Church Mission Society
Churches Ministry among Jewish People
Genesis Trust
Grants to individuals
OMF
STEPS UK
Tearfund
The Warehouse
Wycliffe Bible Translators
Other|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2023**
**2022**
£
£
£
£
1,070
-
1,070
-
3,000
-
3,000
2,300
3,560
-
3,560
2,540
504
-
504
736
504
-
504
678
-
-
-
800
-
-
-
1,160
250
-
250
-
504
-
504
1,236
3,000
-
3,000
2,400
504
-
504
736
80
-
80
-
**12,976**
**-**
**12,976**
**12,586**| |---|---| 13 ## **THE PAROCHIAL CHURCH COUNCIL OF** ## **THE ECCLESIASTICAL PARISH OF WALCOT, BATH** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **6. DESIGNATED FUNDS** ## **CURRENT FINANCIAL YEAR** |Building Maintenance Fund
**PREVIOUS FINANCIAL YEAR**
Building Maintenance Fund|**Balance**
**Balance**
**01-Jan-23**
Income
Expenditure
Transfers
**31-Dec-23**
£
£
£
£
£
19,000
-
-
-
19,000
**19,000**
**-**
**-**
**-**
**19,000**
**Balance**
**Balance**
**01-Jan-22**
Income
Expenditure
Transfers
**31-Dec-22**
£
£
£
£
£
19,000
-
-
-
19,000
**19,000**
**-**
**-**
**-**
**19,000**| |---|---| The PCC has designated funds from ordinary Unrestricted Funds. The Buildings Maintenance Fund has been designated to meet the future planned maintenance costs for St Swithins Church. Designated Funds are wholly represented by the Charity's cash reserves and are to be expended as specified above. ## **7. RESTRICTED FUNDS** ## **CURRENT FINANCIAL YEAR** |Overseas Mission Fund
**PREVIOUS FINANCIAL YEAR**
Overseas Mission Fund
St Swithins Building Fund|**Balance**
**Balance**
**01-Jan-23**
Income
Expenditure
Transfers
**31-Dec-23**
£
£
£
£
£
13,881
-
-
-
13,881
**13,881**
**-**
**-**
**-**
**13,881**
**Balance**
**Balance**
**01-Jan-22**
Income
Expenditure
Transfers
**31-Dec-22**
£
£
£
£
£
13,881
-
-
-
13,881
3,670
4,647
8,317
-
-
**17,551**
**4,647**
**8,317**
**-**
**13,881**| |---|---| The Overseas Mission Fund represents a restricted legacy that must be used to support Overseas Mission activities. The Restricted Funds are wholly represented by the Charity's cash reserves and are to be expended as specified above. 14 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALCOT, BATH** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **8. ENDOWMENTS FUNDS** ## **CURRENT FINANCIAL YEAR** |Memorial Fund
**PREVIOUS FINANCIAL YEAR**
Memorial Fund|**Balance**
**Balance**
**01-Jan-23**
Income
Expenditure
Transfers
**31-Dec-23**
£
£
£
£
£
9,051
-
-
-
9,051
**9,051**
**-**
**-**
**-**
**9,051**
**Balance**
**Balance**
**01-Jan-22**
Income
Expenditure
Transfers
**31-Dec-22**
£
£
£
£
£
9,051
-
-
-
9,051
**9,051**
**-**
**-**
**-**
**9,051**| |---|---| The Endowment was provided to the Charity as a Permanent Endowment and Total Return Investment. The income and realised gains derived from the Endowment can be used by the Charity to fund repairs and maintenance of St Swithins Church to the extent that the designated graves have been kept in a reasonable condition of repair. The Memorial Fund represents the permanent endowment for maintenance of certain graves and monuments located in the closed cemetery at Lansdown. The income from the endowment is available to fund repairs and maintenance of St Swithins Church to the extent that the designated graves have been kept in a reasonable condition of repair. Endowments Funds are wholly represented by the Charity's Fixed Asset Investments and are to be expended as specified above. 15 ## **THE PAROCHIAL CHURCH COUNCIL OF** ## **THE ECCLESIASTICAL PARISH OF WALCOT, BATH** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **9. INVESTMENTS** ## **CURRENT FINANCIAL YEAR** |CBF Investment Fund
**PREVIOUS FINANCIAL YEAR**
CBF Investment Fund
Market Value
01-Jan-23
Additions
Disposals
Profit/(Loss) on Investments
Market Value
31-Dec-23|**Balance**
Profit/(Loss)
Additions/
**Balance**
**01-Jan-23**
On Investment
(Disposals)
**31-Dec-23**
£
£
£
43,181
4,062
-
47,243
**43,181**
**4,062**
**-**
**47,243**
**Balance**
Profit/(Loss)
Additions/
**Balance**
**01-Jan-22**
On Investment
(Disposals)
**31-Dec-22**
£
£
£
48,942
(5,761)
-
43,181
**48,942**
**(5,761)**
**-**
**43,181**
CBF
Investment
Unrestricted
Restricted
**Balance**
Fund
Fund
Fund
**31-Dec-23**
£
£
£
**£**
43,181
34,130
9,051
43,181
-
-
-
-
-
-
-
-
4,062
4,062
-
4,062
**47,243**
**38,192**
**9,051**
**47,243**| |---|---| ## **CBF Investment Fund** The Charity holds investments with the CBF Investment Fund and the original indexed book investment as at the 1st January 2023 was £43,180.67. The Charity holds 2089.92 Shares with the CBF Investment Fund with a mid market value of £2,260.53 per share and balance of £47,243.77 as at the 31st December 2023. 16 ## **THE PAROCHIAL CHURCH COUNCIL OF** ## **THE ECCLESIASTICAL PARISH OF WALCOT, BATH** **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **10. CASH AT BANK AND IN HAND** |Cash at Bank & in Hand|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Dec-23**
**31-Dec-22**
£
£
**£**
**£**
186,875
13,881
200,756
132,071
**186,875**
**13,881**
**200,756**
**132,071**| |---|---| ## **11. DEBTORS AND PREPAYMENTS** |Gift Aid Tax Recoverable
Sundry Debtors|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Dec-23**
**31-Dec-22**
£
£
**£**
**£**
1,834
-
1,834
97,301
65
-
65
740
**1,899**
**-**
**1,899**
**98,041**| |---|---| ## **12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Deferred Income
Independent Examiners Fees
Sundry Creditors|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Dec-23**
**31-Dec-22**
£
£
**£**
**£**
2,434
-
2,434
-
960
-
960
1,212
6,242
-
6,242
11,339
**9,636**
**-**
**9,636**
**12,551**| |---|---| ## **13. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR** The Charity held no long term liabilities during this or the previous financial year. ## **14. ANALYSIS OF NET ASSETS BETWEEN FUNDS** |Fixed Assets
Net Current Assets
Long Term Liabilities
**TOTAL FUNDS**|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Dec-23**
**31-Dec-22**
£
£
£
£
40,625
9,051
49,676
46,830
179,138
13,881
193,019
217,561
-
-
-
-
**219,763**
**22,932**
**242,695**
**264,391**| |---|---| 17 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALCOT, BATH** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **15. STAFF COSTS AND NUMBERS** |Gross Wages, Salaries & Fees
Employer's National Insurance Costs
Pension Contributions
Employees who were engaged in each of the following activities:
Charitable Activities|**TOTAL**
**2023**
£
56,830
4,317
6,011
**67,158**
**TOTAL**
**2023**
3|**TOTAL**
**2022**
£
44,242
-
3,437
**47,679**
**TOTAL**
**2022**
3| |---|---|---| The Charity operate a PAYE Scheme to pay all employed members of staff and no members of staff received emoluments of over £60,000 (2022:None). The PCC makes a 10% employers contribution to a defined contribution pension scheme for 3 employees (2022: 3 employees). The PCC consider themselves to be the key management personnel of the charity. No benefits were paid to key management personnel of the charity during the year (2022:None) ## **16. PAYMENTS TO TRUSTEES AND OTHER RELATED PARTIES** During the financial year Mrs Bryony Waterman (Spouse to Trustee Mr Andy Waterman) received £15,750 in staff costs in relation to administrative services provided to Walcot PCC in furtherance of the Charity's objects. All conflicts of interest have been identified, documented and managed in accordance with the Charity's Governing Document. During the financial year Mrs Suzanne Darwin (Spouse to Trustee Mr Dan Darwin) received £18,536 in staff costs in relation to administrative services provided to Walcot PCC in furtherance of the Charity's objects. All conflicts of interest have been identified, documented and managed in accordance with the Charity's Governing Document. The only other payments made to the Trustees related to reimbursements of expenses incurred in furthering the Charity's objects. The Trustees were reimbursed for £3,203 of expenses for travel, training and incidental costs in furtherance of the Charity's objects (2022: £1,706). No other payments were made to the Trustees or any persons connected with them during this financial year. No other material transaction took place between the organisation and a Trustee or any person connected with them. ## **17. RISK ASSESSMENT** The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks. 18 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WALCOT, BATH** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **18. RESERVES POLICY** The Trustees have considered the level of reserves they wish to retain, appropriate to the Charity's needs. This is based on the Charity's size and the level of financial commitments held. The Trustees aim to ensure the Charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily. ## **19. PUBLIC BENEFIT** The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the Charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the Charity should undertake. 19 ## **THE PAROCHIAL CHURCH COUNCIL OF** ## **THE ECCLESIASTICAL PARISH OF WALCOT, BATH** ## **INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS** Report to the trustees/ members of the Parochial Church Council of the Ecclesiastical Parish of Walcot, Bath on the accounts for the year ended 31st December 2023 set out on pages 7 to 19. ## **Respective responsibilities of trustees and examiner** The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to: - examine the accounts under section 145 of the Charities Act, - to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and - to state whether particular matters have come to my attention ## **Basis of independent examiner’s statement** My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below. ## **Independent examiner's statement** In connection with my examination, no matter has come to my attention: 1. which gives me reasonable cause to believe that in, any material respect, the requirements: - to keep accounting records in accordance with section 130 of the Charities Act; and - to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS Date: 20