CHURCH CHINEHAM licgi4irJ1io No. I14?640 Annual Finance Report 2023 C.unicDIS: CornmeDlan' V¥ki¢ 6 Report of ibe Ind¢peThd¢ni F.xniiD¥r Page -, .%iaiement (bf Finncial Aciti"itieS- as r&Nuir¢d bi Ch#rih Cunimi>•Sitsll¢ fvlan4i¢meni Reptsri - Ov¥Th"i PAge MoR¢rneNI Kepthri- locume d¢11 Pa%c l(1 .Ilana%tTneDI Repon - F.XpefydliU dei*ils
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Commentiry: Annual Finance Report- 2023 David Josey, Treasurer l. Ba$is of financial statements These statements are prepared using Receipts and Payments Accounting. 2. Overview The budget for the year was for an £14.7K deficit in the General Fund (GF), whT¢h was turned into an increase in the GF of £18.1 K. This was due to Ihree legacies and one large donation totalling £33K being spent on Generdl Fund items. Otherwise the General Fund would havc scen a dcficil of £14.1 K, which is close lo the budget! 3. Funds All nornial church financial aelivity is handled within the General Fund Gcncral Fund Reserve Fund unreslricled designated bc used for an riaic to CCC. Nominally three months of nomal expenditure. Set al £50K. Council may move money from this Fund. nomiall lo ihe GF as re uircd. This Fund is io cnablc larger-scalc Tmprov¢m¢nts. modifications andloT extensions to the building and ils facilities. The same usc as the designaied fund: for incomin8 donalions and cificall for this s¢. For outh work. Forare la¢emeni lectern. osea ro Facilities Dcvelopmcnl Fund-D dcstgnaicd Facilities Development Fund-R Yoiith Fund Lectcm Fund reslricled restricted restricted Note. Unreslricled Funds Dcsignated Funds Rcstricted Funds May be used lor any legal purpose appropriate lo CCC. Council can movc moncy inlo and out as they wish. Council can only spend the money on the ternis of the Fund. 4. The Team Behind the scenes. Jim Garncr succeeded Liz Foster paying in to the bank all the cash and chcqucs received. and Peter Chiverton keeps the records for tax ¢I¢l¢nI Giving- Gift Aid - and makes thc applications for refunds. This last applies to Giving coming directly to us and not through an agency that claims the gift aid for us. such as PGS and Stewardship. All thes¢ jobs require due diligence in recording the details and a frequent demand on tirne. Toward5 the year-end, Euna Kim volunteered to be the book-keeper, allocating monthly to each transaction a nominal code and entering them into thc account system. Ai year-end Stuart Woosnam offered io be my successor. Council has approved both these people and a handover proces5 is in hand. l expect Stuart will fonnally become Treasurer ai the forthcoming APCM. My thanks to all these team meMrS. Page 2
l. Mission Support Long tertn financial support is given to chosen Christian organisaiions ihal do God"s work tn the world. Ten percent of the budgeted Giving and associated gift aid is allocated. In 202 we gave: Smile U anda Evan elical Action Brazil Karl & Deborah Stone- Flav¢l Church Dartmouth cliffc Bible Translators # I Com assion UK London Street outh table I CB - Youth Basin stoke Street Pastors Basin sioke Town Cha ainc Junction 5 Mone Adi'ice- fl(M)k Communi Food Link- vehicle re Total £3,025 £2.400 £2.760 £2,556 £352 £900 £900 £400 £400 £400 £507 £14,600 airlrc lace 2. Lettingi Many of our regular cuslomers are billed at the end of each period and thus al each year<nd there are monies owed that were earned in thai year. Ai year<nd 2022, this was over £9K. This was addresscd carly in 2023 and jusi £2K was oulslanding at cnd of 2023. This amount is nom)al each monih. Cash flow overview.. 2022 invoices rec'd in 2023 2023 invoices rec'd in 2023 2023 invoicc% ouisianding al ear-end 2023 accounts recorded £9K £58K £2K Recorded as 2023 income Recorded when received in 2024. £1.3K received b 31° Jan. £67K Eamed in 2023 £60K Bud et.. £60K 3. Card Readers We have run a Sumup caTd ader for some years which is sl¢adily finding more [80Ur with Givers. Sumup is dcsigned for small bustnesses and $0 docs not offer Gift Aid recoveries: it charges about 1.20/0 for ils services. However. we are able io claim Gift Aid on individual donations up to £30. and up to £8.000 tolal od such donations per financial year. The new GWD card reader. which we received at no Cost to ourselves from the Church of England Central Office. does offer a Gift Aid service. This is administered by PGS. However. whilst the costs of the regular. monthly, PGS herne is covered ccntrally by COE. a charge is made on donations using this machine. The charge is 2.50/0. Thus for a large donalion of, say, £1,000, £25 is the adminislraiion fee. I therefore urge people who wish to give large-ish amounts lo give direct to CCC - bank details below - and not via either card read¢r. Peter Chll'erton will process the gift aid claim for free. CCC sort code". 40-5240 account number: 00032391 bank: CAF Bank Ltd. Page 3
- Personal GiviDg unrestrieted & noi legacie$ Personal Givin Per Month raDge ular Ilonthlv To £99 £io(k £199 £200- £399 £40(kF Total Households Total People (estimate) December 2011 Household5 Amount Avera 52 £2,177 £42 19 £2.437 £128 80 £8,114 £101 122 £1.290 £258 £2.210 £552 £66 December 2021 Houscholdb Amount Avera 39 £1,612 £41 19 £2.334 £129 14 £4.014 £2R7 75 £9J42 £125 95 £1.382 £460 £98 December 2022 Household8 Amount Avera 34 £1.216 £36 21 £2.592 £123 70 £8.686 £124 80 £3.078 £280 £1.800 £450 £109 December 2023 Houscholds Amount Avera 29 £964 £33 18 £2,255 £125 60 £7,901 £132 78 £2.417 £302 £2.320 £464 £101 Personal Gli'lng: payment routes- total for the vear ular-monthl PGS- Parish Givin Direct lo our bank Siih-Toial Irre ul4r - 'one-offs' Stewardshi Sumu - Card Rcadcr GWD,'PGS Card Reader Worshi Service5 - Plate Other Siib-Totdl Total Givin Gift Aid on above PGS rc ular PGS onc*off GWD oneryoff Siewardshi ift aid CCC gift aid on Direct. Plate and Sumu card reader Total Gift Aid Grand Tolal Scheme £94.600 £8rK) £95.400 £1.900 £1.800 £5.300 £5,300 £1.400 £15. 700 £iii,ioo £20.000 £2.600 £1.300 £100 £l,O(M) £25,600 £136,700 Page 4
PGS (Parish Giving Schcme) is our main, and preferred. personal income %tream for those thai wish, and can. give monthly. The gift aid is claimed monthly and quickly forwarded io churches. The reporting is good and people can remain anonymous tf they so wish. The costs. of ihis scheme is borne centrally by the COE. One-off donations can be given on-line through PGS and the as.gociated gift aid is similarly claimed and fonvarded each month- though a process fee is levelled io the local church. Therefore l encouragc onevoff donations to be made direct to CCC who will claim the gift aid refund al no cosl. S. Budget Process Thc budget process starts in August of cach year. with the Seplember Council meeling considering the initial draft. It is ihen refined with the objecl of Council signing off the budget by December. Thc last few years have been a challenge du¢ to the changing circumstances. 2024 looks to be more settled and thus il is hoped to return to a 3-year forward looking finance plan for 2025. The budgct IS reviewed each year lo firni the budgel for Ihe following year. whilsl laking nole of longer lerni aims. 10. Accounting Policies and Pr8¢tic The financial slalemenls hai'e been prepared in accordance with the Church Accounting Regulations 2006 as prescribed by the Busincss Commillcc of ihc Gcncral Synod of thc Churcli of England. These are similar to those of other denominalions. General funds represent the funds of the Church Coun¢il that are not subject to any restrtctions regarding thcir usc and arc availablc for application on thc gcncral purposes of thc Church Council. Funds designated for a particular purpose by the Church Council are also unrestricted. The accounts include all transactions. asscls and liabilities for which the Church Council is responsible in law. They do not include the accounts of Church groups that owe their main a]llatIOn lo anoiher body nor those ihat are infornial gaiherings of Church members. All fixed a5SCts are fully depreciated in the year of purchase. All consumable items, whether for hureh use or for re-sale, are accounted for gross ai time of purchase. Income from sales is recognised when received. All income is accounted for when received. All expenditure is accounted for when it leaves the bank. Consecrated and beneficed propety is excluded from the accovnts by the Charities Act 1993 5.96(2)(a). No value is placed on movable ¢hur¢h furnTshings held by the churchwardens on special tnjst for the Church Council and which may require a faculry for disposal since the Church Council considers this to be inalienablc property. All expenditure incurred during the year on consecraied or bencfice buildings and moveable church fumishings, whether maintenance or improvemeni, is Nvritten off as expenditure in the Stalement of Financial Aclivilies, and the Management Accounts. Items of equipment are written off when the asset is aequircd. Page 5
Report of the Independent Examiner to the Chrfst Church Chlneham EcumeniGII Church Coundl - Charity No. 1142640 I report to the trustees on my examination of the accounts of the above charity I'the Trust'l for the year ended 31 December 2023. whith are set on pages 7 to 11. RponsIbIlItIeS arKI Basts of the Report As the char7ty'S trustees. you are resFonsible for the preparation of the accgunts in accordance with the requirements of the Charities Act 20111.the Acfl. I report in respect of my examination of the Trusys accounts carried out under 5ettion 145 of the 2011 Art and in carrying out my examination. I have followed all the applicable Direttion5 given by the Chartty Commission under section 145151Ib) of the ACL Independent Examlnerfs Statement I have completed my examination. I confimi that no material matters have corne to my attentloft In connectlon wlth ihe examlnation which 8iveS Me cause to belleve that In, ary material respect: the accounting records were not kept in attordance with section 130 of the Act: or the accounts do not actord with the accounting records: or the accounts do not comply with the applicable requirements conceming the form and content of accounts set out in the Charities (Accounts and Reports) Re8ulatlon$ 2(K)8 other than any requirement that the accounts give a 'true and falrf view whlch is not a matter considered as part of an independent fAamination. I have no concerns and have come across no other rnatters in connection with the exèminètlon to which attention should be drawn in this report in ordef to enable a proper understanding of the accounts to be reached. Chrlstlne Holland CPFA Date: 2 1. 14. X)2Lp Chrlstlne Holland CPFA 9 Ellerton Close Theale Reading RG75QN Py6orii
Page7of11 Christ Church Chineham Statement of Flnancial Activities (SOFA) For the period 01 January 2023 to 31 December 2023 Charity Regislratlon No. 1142640 2023 Vnrestrlctei Restricted Funds Funds 2022 Total Funds Resources: Total Funds IolRe$0CeS Donations & Legacies Charitable attivities Investment income Trading Activities Other income Tol•l IrKomry Re50wces £157,058 £4.823 £1,198 É67,160 El.655 231.894 £0 £157.058 £154,810 £0 £4,823 £1,130 £0 £1.198 £485 £1,274 £68,434 £45,292 £2,805 £4,460 £7,093 £4.079 £235,973 É208.810 Restyxtes Used Cost ofgeneratingfunds Charitableactivitie5 Other resources used Tot¥1 Resour¢e5 Used £0 É198,716 £15,031 £213.747 £0 £0 £318 £8,631 £207.347 E189,393 É3,928 £ 18,959 £5,833 £12.559 £226.306 £195.544 Net Movement of Funds Movement between fvnds Balances blf I january Balancescl1310ecember £18.147 £9,667 £13,266 £0 £0 £90,000 £135.399 £12,331 £147,730 £134,464 £153,546 £3,851 £157.397 £147.730 -£8.480 Assets: CurrentAssets at31st Decembtr CAF 8ank Main CAF Bank Lettings CCLA- Savings T¢)tslwrrenl assets 2023 £86,180 £39,598 £31.619 £157.397 2022 £54,796 £62,296 £30,638 £147,730 Represented bv: Parish Fw Type 2023 £63,546 £50,000 £40,000 £0 £2,700 £i.000 151.3 £IS7.397 2021 £45.399 £50,000 £40,000 £7,881 £3.450 £1,000 General Fund Reserve Fun(J Facilities Development Fund- D Facilities Development Fund- R youth Fund Lecturn Fund Appeal Fund Totrl Partsh FwKIs rtstrictecl reStrle&1 Yestrirted re51ritt¢d £147,730
Christ Church Chineham December 2023 Page 8 of 11 COnfentIal- lor Church Council only 1. BANK BALANCES CAFBank Main CAFBank Lettings CCLA-Savin85 01.Jan.23 31.Dee.23 £86.180 £39,598 £31.619 £157,397 varlance £31,383 Qjrrent Account 22.698 Currenl AccLWnt £982 Savrys Account £9,667 £54,796 £62,296 £30.638 £147,730 Total 2. FUND BALANCES 31.De¢.23 General Fund £45.399 £63.546 ReseNe Fund É50,000 £50,000 FDF-D £40.000 £40.000 FDF41 £7.881 Éo Youlh Fund £3.450 £2,700 D1Ce$an> Fees Fund £0 £0 Leclem Fund £1.000 £1.000 Appeals Fund (not CCCI £0 £151 TQTAL unr•ytrlctod funds £135,399 £153.546 TOTAL restricted fund$ 111 £12.33"1 £3,851 TOTAL ALL FUNOS lal£147.730 £157,397 01.Jan.23 varlanc t5fYKtecl £18,147 £0 £0 7.881 4750 £0 £0 £151 £18.147 8.480 £9,667
2
2
Irted restrided itrirted re51YJ¢ted 3. G•neral Fund Overwlèw GF Expendlture Being Church #1 Ministry Admin. Support
1
8uikJing & Facilities #1 Misspjn Support Acttwl toye¥r*NI Buds•t20Z3 £32.106 £31,475 £86.206 £87,250 £16.615 £14,234 £64,220 £75.591 £14.600 £14.600 £213.747 £223.150 Varknnce Bud$et2024 £28,950 £86,935 £20.220 £83,400 £14,000 £233.505 £631 -£1,044 £2,381 -£11.371 £0 9,403 Total GF Incom• Giving Legacies Tax Refunds Interest Dces8n Fees Grants Lettings Being Church £111.109 £120.IXJO -£8.891 £20.382 £0 £20,382 £25,566 £28,000 -£2.434 £1,198 £500 £698 £54 £0 £54 £1,5C £0 £1,500 £67,024 £60,000 £7,024 £5,061 £0 £5,061 £231,894 £208,500 £23,394 £110,000 £0 £30,000 £1,300 £100 £0 £70.000 £0 £211,400 GF Totals £18,147 -£14,650 £32,797 -£22.105 Notes".
l.. Includes appropriate allocation of payroll
2.. FDF= Facllittes Dwffl0pfff Fund
- General Fund Expenditure December 2023 Pdge 9 of 11 A(tsMlyear. errfl Bkne1 2023 V•riaMe et2024 EXPENDITURE Being Church Inet): Children & families spale1$ Youth Flower5 Tuesday Lunches wshIP Outreach Pastoral & Weware Social Book Sa5 Sundiie5 Fees + sub5
i
£363 £476 £i(xi £263 Éo £i.LD) £iXKK) £0 £476 -É651 £2Ch) £IA23 £1fi28 -£1267 -E5cKI -£2.SCKI £349 £1,2(K) £1,423 £2,128 £1.233 £0 £392 £iK -£500 £2,$ £2SO £0 £sc £25CXI £5CtyJ £51M) £ic £0 -£108 £33 £298 £300 £133 £50 £250 £298 £798 £2.StXI £8,7fAI -£1,702 £92 £1,2 £3.950 $total £8.792 Mhtry". CMF Baptists CMF Methodists CMF UAC CMF WDBF Oergy expenses Trainln6 £IA56 £1,460 £1.460 £80,225 £1.238 E367 £86,206 £1.460 £1.4 £1.460 £80220 £650 É2.( £87,Z50 -£4 £0 £1.460 El,460 É1.460 £80,355 £1,200 £1,000 £B6.935 £0 £5 £588 .£1.633 .£1.044 sul>totsl Office Consumables Oliice Equipment Publitity. WE8 et al 8ank chargès £2,972 £2.293 £2.141 £120 £7.527 £2KLI) £i.Ic#J £2.SCKJ £0 £5,600 £972 £1,193 -£359 120 £1.927 £4,000 £3,000 £3.500 £120 £10,620 Bullthg & Faclls: Routine maintenanct £6A14 £5869 £19,471 £3.284 É2.650 £37.687 f 14.600 £58.935 £950) E12,( £20.CQ) £6.COJ £2,5( £so.tyJ) £14.6(Kl £57.1 .£3P86 -£6,131 -£529 -£2.716 £150 £10,000 Éis,000 £22,000 £4.000 £3,000 £54,000 f 14.000 £64.000 Maprmaintenance ljtilities IHLW+Wastel Kitchen, cleaning, eic. Insurance .£12,313 £0 MISSk Supyt su&tot•l P4yroll su&total £1.935 Total GF Expenditure £213,747 £223.150 -£9.403 £233.505 Nore5
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- General Fund Income December 2023 Page 10 ofll Actt4lthye•r. Bw*et2023 Varlarte Bet2024 INCOME GNing- Planned GNing GNtng- Cdlecknons GwinR- Donaiion5 E95.449 £4W6 EIO.774 £111.109 £ioo.o £5,5(K) £4,500 £iiO.LW)O Sultal•l £120.0) É28Xf £0 .£8.891 -£2.434 E20.382 £698 Tax Refunds £25.566 £20382 £1.198 £y ÉISCQ £48,7(K) £67.024 £30,OC £0 £1,3C(I £100 EO LeB3cie5 lTrte$t D. lees Ixferyed atylel Grants IGF-restrictedl stal•l £SL £0 £0 £1.5L £20.200 £7.024 £28. £31,400 70,000 $t0¢•I £60,( Behy Chwth.. spale Youth TuÈsday Lvnthes £3.072 £0 £1.752 £155 E82 eook Sales £5,061 £0 £5,061 £0 In¢om• £231.894 £208,500 £23.> £211.400
Pa8ellolll 7. Grants received Thewell Benches- BDBC Warm Spaces- Southern Counties £400 Spert wder Kitdh £600 SKrt tIfie Mt. indLths Ii*w ItÈMS £500 Swnt Vtiliiies Total £1.500 . Movement in other Fund5 ISL J•n. 23 £50.000 £40,000 £7,881 £3.450 £0 £1,000 £0 £102,331 IN OUT 31.De¢.23 £50.000 £40,000 £0 £2,700 £0 £1,000 E151 £93,851 Reserve Fund FDF-D FDF4< Youth Fund D. Fees Lecturn Fund Appea15 Fund (not CCCI £0 £0 £0 £0 £7.881 £750 £1,274 £0 £2,653 £12,559
1
1
Éo £1.274 £0 £2,805 É4.079 Total £53.BSJ 9. Appea15 Fund - all donaticms recelved passed on. ISL hn. 23 IN OUT £0.00 £41.65 £41.65 £0.00 É430.00 É430.00 £0.00 £624.41 É624.41 £0.00 £552.79 £552.79 £0.00 £97.00 £97.00 £0.00 £874.76 £907.52 Éo.00 £184.06 £0.00 £0.00 £2.804.67 £2,653.37 31.De¢.23 £0.00 £0.00 £0.00 Éo.00 Éo.00 -£32.76 É184.06 £151.30 Thesafe Smile Uganda Macmillan Cancer Wheels for the World Trevor leavin8
3
8DDF Terracycle
2
Total Appeals £151.30 Notes..
k.. FDF- Faciltties Dtrdopmeni Fund
2.. ded to the É3K Irovn MisSi¢*n Support
3.. CCC rounded thls up
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