## The Parochial Church Council of the Ecclesiastical Parish of Tisbury ## **End of Year Financial Statements** Year ending 31 December 2022 |**Contents**|**Page**| |---|---| |PCC Members’ and Trustees’ Report|2| |Independent Examiner’s Report|3| |Statement of Receipts and Payments|4| |Statement of Assets and Liabilities|5| |Notes to the Financial Statements|6| _Registered Charity No 1142581_ PCC MEMBERS'ANDTRUSTEES. REPORT The PCC memben and trustees preseni their report and the financial statements for the year ended 31 December 2022 which were approved at a meeting on 19 April 2023. Activities The sole activity of rhe chariry during the year was conduciing the affairs and managing the assets of the Ecclesiastical Parish of Tisbury in the Church of England diocese of Salisbury. Financial statement highlights The PCC'S acts'vities were getung back ro nomal by the end of the year following previous disruption from the Coronavirus pandemic. Operaong costs We￿ increased somewhat due io increased energy prices arKI inflation. The PCC reporE5 an increase in the gener21 fund for the year of £1.595. The PCC paid £30.000 of the £63.318 diocesan sharE amount requested by the diocese in 2022. Had it paid the full amount it would have been in contravention of its reserves policy. against the Charity Commission 5 guidelines. At the end of 2022 the accumulaied unpaid diocesan share amount is £157.137. The PCC has substantial assets under its control, bui these are mosdy designated or restricted funds earmarked for specific projects and activities ￿flec(1ng the basis on which the fund5 were raised or donated and on ￿locationS agreed by the PCC. During the year, the PCC ￿lOcated legacies and donations recetved in 2021. to￿ling £45.000, to be spent on specrfic tangible ￿emS which would enhance the life of the churth in memory of the donots, including the hand- rail to the north door. rep&rs to the Hyde brass and North Aisle wall brasses. ￿red0S cleaning and conservation, and a new altar frontal and vestmenTS. I I 0.000 was allocated 10 the East Window fund and {5.(￿ to the Faixic fuThJ. with a £6,C￿￿ conungery w cover than anticipated costs for any of the above. In Augusc 2022 the PCC, assisted by the East Window projett management committee. embarked on major fundraising campaign in respect of the East Window s replacement. The current estimated cost of the project is £228,(X￿, with 178.000 being prowded by the Church Commissioners. At 31 December the £140.000 total of donaDons received and pledged exceeded the agreed 80 per cent threshold whith triggered work on the project to commence in eamesL with a target completion date of October 2024. The financial health of the PCC remains dependent on the goodwll of the many volunteers who support the PCC 5 activitie5 and on the parishioner5 and others in the community who provide financial and other svpport. Basis of preparation These accoun￿ have been prepared in accordance with the Church Accounting Regulations 2006 following the ￿CeIptS and payments basis of accounting. The PCC considers that an audit is not ￿quired for this year under section IH(2) of the Charities Act 2011 (the 201 l Act) and that an independent examination is needed. rofthePCC G P Sorensen. Treasurer 19 April 2013 Independent Examinerfs Report I report on the financial statements of the Pan)chial Church Council of the Ecdesiastical Parish of fisbury for the year ended 31° December 2022 whith are set out on the following pages. Respe¢Uve re5ponslbllltles of the PCC (Trustees) and Indepenkn Examlner The PCC Icharitls trustees) is responsible for the preparation of these financial Statements in accordance with the Church Accounting Reguktions 2(1￿. It considers that an audtt is not required for this year under section 144121 of the Charities Act 2011 (t￿ 2011 aTrJ that an Independent examination is needed. It ts my responsibilty to: examine the accounts under section 145 of the 2011 Act follow the pn)cedures laid down In the General Directions given by the Charty CommissNJners under sertion 14515llbl of the 2011 Act- and state whether particular matters have come to my attention. Basls of Independent Examinerfs Statement My examination was carried out in accordance wlth the General DirectK>ns given by the Charty Commisslon. An examination indudes a review of the accounting records kept by the charity and a comparison of the financial ststements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from the PCC concerning any such matters. The procedures undertaken do not provide all the eviden￿ that would be required in an audtt and consequentty no opinion is given as to wW*r the financial statements present a 'true and fair vieW and the report is limited to those matters set in the statement below. Independent Examlnerf$ Stateme In connection with my examination, no matter5 have come to my attention. {11 vthich give me reasonable cause to believe that in any material respect the requ1￿Ments al to keep accounting records in accordance with sectw)n 130 of the 2011 Act; and b) to prepare financial statements which accord with these accounting records and comply with the accounting reqU1￿ments of the 2011 CharIt￿5 Act have not been met: or {21 to which. in my opin￿n. attention shouFd be drawn in order to enable a proper understandin8 of the financial statements to be reached. ..19 Febnory 2023 Ellzabeth Brown l Ridgewav, Chilmark. Wittshire SP3 58X 07745 781503 ## **PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TISBURY STATEMENT OF RECEIPTS AND PAYMENTS** ## **01 January 2022 to 31 December 2022** |**Note**
**Incoming resources**
Collections and donations
_2_
Income from events, net
_3_
Income from Hinton Hall, net
_4_
Income from Focus Magazine, net
_5_
Income from investments
Income from other activities
_6_
Total income
**Resources used**
Operating costs
_7_
**Net increase in resources**
Transfers between funds – in
Transfers between funds – out
Revaluation of investments
**Net movement in funds**
**Funds available at 01 January**
**Funds available at 31 December**
_8_|**General**
**funds**
£53,079
1,333
0
0
1,411
2,898
58,721
56,710
2,011
1,034
-1,450
0
1,595
32,169
£33,764|**Designated**
**funds**
£9,357
0
-10,861
1,236
151
0
-117
11,242
-11,359
25,480
-26,012
-1,474
-13,365
122,803
£109,438|**Restricted**
**funds**
£66,769
0
0
0
248
0
67,017
7,613
59,404
9,605
-8,656
0
60,353
56,340
£116,693|**2022**
£129,205
1,333
-10,861
1,236
1,810
2,898
125,621
75,565
50,056
36,119
-36,118
-1,474
48,583
211,312
£259,895|**2021**
£97,169
2,122
5,675
1,242
1,309
1,971| |---|---|---|---|---|---| ||||||109,488
65,669| ||||||43,819
16,439
-16,436
3,123| ||||||46,945
164,367| ||||||£211,312| _Further details of the receipts and payments are set out on pages 6 to 8. General, designated and restricted funds are explained in Note 1 on page 6._ 4 ## **PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TISBURY STATEMENT OF ASSETS AND LIABILITIES** ## **31 December 2022** |**Note**
**Cash at bank**
Current account
Savings account
East Window account
Gift Aid account
Development account
Focus current account
Focus deposit account
Hinton Hall current account
Hinton Hall deposit account
**Investments**
M&G Charifund
**Fixed assets**
_9_
**Total assets**
**Liabilities – agency accounts**
_10,11_
**Net assets at 31 December**
_8,12_|**General**
**funds**
£30,734
0
0
3,030
0
0
0
0
0
32,169
0
0
33,764
0
£33,764|**Designated**
**funds**
£5,280
36,462
0
0
0
5,176
10,697
9.809
17,017
84,441
24,997
0
109,438
0
£109,438|**Restricted**
**funds**
£12,489
48,538
56,731
4,125
100
0
0
0
0
121,983
0
0
121,983
5,290
£116,693|**2022**
£48,503
85,000
56,731
7,155
100
5,176
10,697
9,809
17,017
240,188
24,997
0
265,185
5,290
£259,895|**2021**
£52,740
85,000
0
3,770
100
4,644
10,693
8,207
23,008| |---|---|---|---|---|---| ||||||188,162
26,471
0| ||||||214,633
3,321| ||||||£211,312| Approved by the PCC at a meeting held on 19 April 2023 and signed on its behalf by Revd Juliette Hulme (chairperson presiding at the meeting) and Anthony Lovell-Wood (PCC member). Juliette Hulme Team Vicar Anthony Lovell-Wood PCC member _The notes on pages 6 to 8 form part of these financial statements._ 5 ## **PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TISBURY NOTES TO THE FINANCIAL STATEMENTS** ## **Year Ending 31 December 2022** ## **Note 1. Accounting policies** The financial statements of the PCC have been prepared in accordance with the Church Accounting Regulations 2006 using the receipts and payments basis of accounting. ## In these financial statements: Unrestricted funds are funds which can be used in accordance with the PCC’s charitable objects at its discretion. General funds consist of unrestricted fund money that has not been set aside for any specific project. The day to day running costs of the PCC are normally paid out of general funds. Designated funds are set aside by the PCC out of general funds for specific projects. Designated funds are still unrestricted and can be moved to other unrestricted funds or re-designated if the PCC so decides. Restricted funds can only be used for particular restricted purposes within the objects of the PCC. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. ## **Note 2. Collections and donations** |Standing orders and envelopes
Legacies
CAF cheques
Give.Net
Parish Giving Scheme
GoodBox and wall safe
Cash collections
Special appeals
Gift Aid tax refunds
Grants
General donations|**General**
£23,386
0
1,875
0
13,566
1,755
3,915
90
7,328
50
1,114
£53,079|**Designated**
£0
4,357
0
0
0
0
0
0
1,000
0
4,000
£9,357|**Restricted**
£1,518
0
660
0
0
29
1,704
53,408
8,400
300
750
£66,769|**2022**
£24,904
4,357
2,535
0
13,566
1,784
5,619
53,498
16,728
350
5,864
£129,205|**2021**
£30,991
40,000
2,410
385
4,876
804
2,697
0
9,185
3,736
2,085
£97,169| |---|---|---|---|---|---| ## **Note 3. Income from events** During the year £1,333 was received from the Christmas Fair. ## **Note 4. Hinton Hall** |Receipts
Payments
Net Income|**2022**
£5,484
16,345
£-10,861|**2021**
£12,622
6,947| |---|---|---| |||£5,675| During the year, the Hinton Hall car park was resurfaced at a cost of £10,644. This was financed by £4,822 from Hinton Hall funds, a donation of £1,000 and £4,822 from church funds. In 2021 Covid-19 Small Business Grants totalling £10,365 were received. 6 ## **Note 5. Focus Magazine** |**Note 5. Focus Magazine**||| |---|---|---| |Receipts
Payments
Net Income|**2022**
£10,667
9,431
£1,236|**2021**
£10,240
8,998| |||£1,242| ## **Note 6. Income from other activities** During the year the PCC received £2,898 (2021: £1,971) for weddings and funerals. ## **Note 7. Parish operating costs** |Diocesan quota
Nadder Valley Team share
Organist
Altar
Heating oil
Water
Electricity
Insurance
Churchyard maintenance
Organ
Insurance excess re food damage
Quinquennial inspection work
General maintenance
Other repairs
Development expenses
Ofce expenses
Printing, stationery, books
Choir
Mission giving|**General**
£30,000
3,700
4,500
527
3,882
84
1,274
3,857
3,704
1,044
0
0
1,043
535
0
2,208
81
271
0
£56,710|**Designated**
£0
0
0
0
0
0
0
0
0
0
0
0
0
11,242
0
0
0
0
0
£11,242|**Restricted**
£0
0
0
0
0
0
0
0
0
0
0
1,248
260
4,112
1,993
0
0
0
0
£7,613|**2022**
£30,000
3,700
4,500
527
3,882
84
1,274
3,857
3,704
1,044
0
1,248
1,303
15,889
1,993
2,208
81
271
0
£75,565|**2021**
£30,000
1,468
4,500
440
2,050
82
751
3,815
1,594
798
500
0
2,552
12,211
0
2,341
1,485
1,022
60| |---|---|---|---|---|---| ||||||£65,669| During the year £3,464 was spent on churchyard tree maintenance including £350 on a condition report of the historic yew tree. Further expenditure is anticipated in 2023 to brace up the yew tree. 7 ## **Note 8. General, designated and restricted funds** |**Unrestricted**
General
**Designated**
Hinton Hall
Focus Magazine
Gifts and Memorials
East Window
**Restricted**
East Window
Clock
Lee Abbey
Fabric
Friends and Memorials
Flowers
Development
Christmas|**General**
£33,764
0
0
0
0
0
0
0
0
0
0
0
0
£33,764|**Designated**
£0
26,826
15,872
56,091
10,647
0
0
0
0
0
0
0
0
£122,801|**Restricted**
£0
0
0
0
0
70,058
152
100
7,861
13,042
145
24,703
634
£116,695|**2022**
£33,764
26,826
15,872
56,091
10,647
70,058
152
100
7,861
13,042
145
24,703
634
£259,895|**2021**
£32,171
31,215
15,337
68,187
8,062
12,435
302
100
5,904
12,989
145
23,831
634| |---|---|---|---|---|---| ||||||£211,312| ## **Note 9. Fixed assets** Consecrated and benefice property is not included in the accounts in accordance with section 10(2)(a) of the Charities Act 2011. Movable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal, as well as other fixtures, fittings and equipment where the PCC is free to dispose of such assets without faculty and where the original cost was £1,000 or more are recognised but not assigned any value in the Statement of Assets and Liabilities. ## **Note 10. Agency accounts** |St John’s choir
St John’s bell ringers
Children’s Society
Tisbury Christian Council|**2022**
£3,256
1,278
245
511
£5,290|**2021**
£3,321
0
0
0| |---|---|---| |||£3,321| ## **Note 11. Diocesan share** Diocesan share is the amount requested annually by the Diocese of Salisbury to fund the stipends and housing for clergy plus other diocesan operating costs. The 2022 diocese share request was for £63,318 (2021: £60,303) and the PCC was able to pay £30,000 (2021: £30,000) towards that request. The accumulated unpaid balance of £157,137 is not shown on the Statement of Assets and Liabilities as a liability since it is not a legal obligation and the likelihood of it being paid in future is uncertain. ## **Note 12. General fund reserve policy** It has been PCC policy to maintain a balance in the general fund to cover emergency situations or a sustained reduction of income or increase in expenses. The PCC has agreed that the minimum level of reserves in the general fund should be £25,000, to be reviewed annually. The general fund balance on 31 December 2022 was £33,764 which complies with the minimum reserves balance policy. 8