Financial Report to the Annual accounts ended 31[st] December 2023.
The accounts have once again been produced on an accruals basis and prepared by Quinney’s Accounting firm. The have been prepared in accordance with current recommended practices (2019) and Charity Act requirements (2011). They balance and have been Independently examined.
The Statement of Financial Activities (page 20) and Balance Sheet page 21) are in effect summary sheets with further detail and explanation found within the notes (pages 22 – 29)
On the Income side (from page 25) it can be seen that the general items (collections, Gift aid, charity collections and ‘trading activities’) whilst down are broadly similar. The 2 exceptions which are new items are an insurance claim settlement following the metal theft of our altar items (£ 22,786) and help from the Diocese in respect of a fuel grant (£ 2,250). We have also benefitted from additional investment income and bank interest (to £ 20,748) following last year’s legacy and transfer of the Friend’s balances. The nett result for our income is an increase to £ 107,062 compared to £ 74,389 (2022 after legacy and Friends transfer are discounted as exceptional)
On the Expenditure side (from page 26) it is to be commended that we achieved a 100% payment of our allocated Parish Share. This full payment of Parish Share was discussed and agreed at a PCC meeting to reflect our increased ability to meet our diocesan commitments because of legacy receipts etc enabling our investment income to rise. This figure was still short of the actual cost of Parish share to a parish with one member of clergy but we are striving to meet this figure of around £65,000 in 2024.
All other expenditure lines were broadly in line or lower than previous year, the exception being St Mary’s expenses due to the cost of the new sound system. This was subsequently funded by a generous private anonymous donation. There is also a new line showing the cost of the copier rental. This is a renewed 5-year contract but has previously been included within parish expenses. The nett result in our expenditure is an increase in our overall expenditure to £ 92,297 (£77,812 in 2022)
So put simply - Income up 32,673 (insurance settlement & investment income) expenditure up 14,485 Parish share.
The nett result is that our General fund has increased to £28,090 but this figure at the year-end includes the Insurance settlement claim money (£22,786). This has subsequently been placed in a PCC designated fund.
Looking to our Restricted (R) and Designated (UR) funds (page 28) we continue to utilise relevant funds so that the General fund is not unreasonably burdened by capital costs and our investment funds whilst invested for income, have also had a capital gain on their values over the year.
The nett cash assets are held in Barclays bank £20,933 and our fees a/c £3,550 and CCLA deposit funds of £258,851. The total invested funds are valued at £472,357
Andrew Alder, Treasurer 6.3.24
OF ENGLAND Dioc of Norwich Independent Examiners Certificate Report to the trust¢¢slm¢mbers of: On accounts for th¢ y¢ar end. Clwity J)umber'. Hellesdon PCC 31 Decanber 2023 1144178 I report to the trustees on my examination ofthe accounts of the above charity (*he Tnt1 for the year ended 31 December 2023. RespoD51bllltles Y4nd basts of report As the charity's truste¢s. you are responsibl¢ for the preparation of the accounts in aordanCe with the requiTeznents of the Cl]aTities Act 2011 ('Yh¢ Act"). I report in respect of my examination of the Trust's accounts Caled out under section 145 of the 2011 Act and in canying out my examillation. I have followeAI all the applicable Directions given ty the Cjwity Commission under section 145 (SXb} of the Act. Independent examiuer's statement I bav¢ completed my examination. I confinn that no lltla1 hav¢ com¢ to my attejrtion in connection with ihe ¢x0Jnination which gives me cause to believe that any material resixrt.. the accounting record8 were not kept in accordance with section 130 of the Chazities Act. or the accounts did not accord with the accounting records" or the OUntS did not comply with the applicable requir¢m¢nts co1¢Illg the fonn Hnd cont¢nt of accounts set out in the Chatities (Acc4Mmts and ReFths) Regulations 2008 other than any requirement that the accounts give a and rai view which is not a matter wn5ider¢d as part of an independent I bav¢ no concerns and hav¢ come a¢ no other matters in COMCtiOn witb the examination to which att¢ntion sl)ould be drawn in this report ID ord¢rto enable a proper unddIngOfthe accountsto be r¢ache<L Signed: Date: I I Namc". M W L4mb FCCA Relevant prof¢ssional qua]ification{s) orb(Mty (rfaoy): ACCA Address: Saxon House Hell¢sdon Park Road Drayton High Road Norwicb NR6 5DR 19
THE PAROCHIAL CHURCH COUNCIL OF TllE ECCLKSIASTKCAL PARISH OF HELLESDON NORWICH FOR THE YEAR ENDED 31 DECEMBER 2013 STATEMENf OF FINANCIAL AIVITIEs 2023 Total Funds 2022 Total Unrestrlcted Restrfeted Funds FuDd8 INCOMtNG RESOURCES (note 3) [kntions and legaci¢s Charitable activities Other tiillg activities Investments 43,698 870 44.568 506 42.810 22,368 505,129 617 23,193 5.450 181089 42,050 20.748 760 1,620 Totsl RESOiiRCLS EXPENDED (nots 4) Expenditu on.. Charitable activities NET INCOMFJ(EXPENDrruRE) BEFORE INVLSTMENT GAINSIILOSSES) Net unreakn gain{10) on investment 20,127 (2.112) 18.015 637,667 Net movement In funds 55.649 2,986 58.635 607.985 209 55.858 N¢1 mov¢meDt in fid8 aftertr8L8fers 2,777 58,635 607,985 RECONCItJATION OF FUNDS Total funiL8 brou8bt forwanl 698 Total funds canled forward
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESTASTICAL PARISH OF HEILESDON NORWICH FOR THE YEAR ENDED 31 DECEMBER 2023 BALANCE SHEET 20LI 2022 Current Assets Debtors CUent account Deposit account 3,471 20,933 258,851 3550 472 181,089 8,563 77,864 4,097 431737 Invest¢d fimds Totsl A$6ets 759 162 Current Ihbilities Credlto Total Llabllldes A¥Rts less lirdbfilde4 28,090 1,145 1,690 1,116 5,(K)O 13,800 13(M) 4,776 353 14,995 44,293 53,237 413,069 7,422 1,384 1,988 3239 5.(K)O 13,8(X) 2,300 1806 894 13,705 40,484 53237 377548 StPaul's Fabric Design&ted StPaul's Hall D¢si8nated St Mary's ChUhyal Restricted St Mary's Fabric Restricted St Mary's Webb Bequest R¢stricted St Mary's Thompson Bwst Restrlcted St Paul's New Build Projed R¢strided St Paul's Youth R¢stri¢ted St Mary's Churchy8rd Investsnent R¢stri¢t St Paul's New Build Proj¢¢t Investment Restricted St Mary's B Bush Inveslm¢nt D¢siwted (cash) St Mary's B Bush Invesim¢nt Designated (invt) St Mary's (Frien¢l% alc) Rwtrioted for b¢n¢fit of St Mary's 173 089 181089 Totsl Fundg The financial stat¢ments we approved aThl auth(rised forissueby the TnLStees and on theirbehalf by: Akn Alder. Tre05ur¢r 11-3-Z* 2024 21
THE PAROCHIAL CHURCH COUNCIL OF ThE ECCLESIASTICAL FARISR OF HELLESI)ON NORWICH FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO TllE FINANCIAL STATEMENTS The notes of ge$ 22 to 29 forn part of these 1Snanclil 8tstements Nots l Basis of Preparatlon These accounts have been pr¢par¢d lllld the historical Cost convention with it¢ms recogni5cd at cost or transaction value unless otherwise stated iti th¢ relevant note(s) to these accounts. th¢ Ststancnt of Reconunended Practice". Accounting and Reporting by CIwAties preparing their ac¢ounts in a¢cordanc¢ with the Financial Reporting Standard applicable in theUK and RUbliC of Ireland (FRS 102) (¢ffective l January 2019) the FitLqncial R¢porfing Standard applicable in the United Kingdom &Dd Republic of trelaod (FRS 102) and with the Clwities Act 2011. The cknty constitutes a public benefit entity as defined by FRS 102. General IDfonnAtlon Th¢ Paro¢hial chUh Council of the Ecclesiastical Parish of Hcllesdon is a regist¢r¢d ¢lwity, nurnber 1144178. R¢gistration look place on 7 October 201 l. Th¢ regist¢red office foT the Glwity is The Vicardge. Broom Avenue. Hellesd0 NorwiclL NR6 6LG. The charity is governed by the Parochial chUh Council Pow¢TS Musur¢ (1956) as Am¢nd¢d and chUh R¢pT¢s¢ntation Rul¢s. ote2 Accounting Policies Ijkcome AU Ancome is recognised once the Charity has entitlement to the iticome, it is probable that the income will be recelved and the amount of income receivable can be measured reliably. Th¢ Tccognition of income from legacies is dependent on establishing entitlement, the probability of relp¢ and the ability io estimate with sufficient accuracy the amount rec¢ivabl¢. Evidence of ethitlem¢nt to a legacy ¢xists wh¢n the Charity bas suffici¢nt idence that a gift has been l¢ft to them (through knowledge of the ¢xist¢nc¢ of a valid will and th¢ death of the b¢n¢factor) and the executor is satisfied that th¢ propety in qUtion will notbe required to satisfy elaims in tbe estate. Receipt of a legacy must be recognised whenit is probable that it willbe received and the fair value of the amount receivable. which will generally be the expected cash amount to be distributed to the CharAty, can be rcjiably measured. Grants are included An the Ststement of fnCial activities on a receivable b&gis. The balanc¢ of income received for specific purposes but not expended durAng the peri(K1 is thown in the relevant fuTJds on the Balance Sheet. Where illcome is received in advance of elltitlernt of receipL its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before iome is rwxived. the income is accrned. 22
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PAJUSH OF HELLESDON NORWJCH FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATETrtENTS. conrfM¢d Th¢ not¢$ of pages 22 to 29 forn part of theBt finan¢ial ststtments Notr 2 Accounting PolicieN. conlin4ed ]n¢ome- ¢onilnM¢d Income t&X Tecoverable in reJati<)n to donations received under Gift Aid or deeds of covenant is cogni5ed at the time of the donaion. Income tax recoverable in relton to investment Income is recogtiised at the time the investment income is receivable. Other income is recogDis¢d in the pffliod in which it is re1Vable and to th¢ ext¢nt the goo& lthve provided or on completion of th¢ servi¢¢. Expenditure is recognised once there is a legal or consknictive objigation to transfer economi benefit to a third pty. it is probable that a transfer of economic ben¢fits will be required in settlement and the ount of the obligation can be measured reliably. Expenditure is classified by tivity. The ¢osts of ¢a¢h aotivity are made up of th¢ totsl of dir¢ct Costs and shared costs, including support costs involved in undertaking each activity. Direct costs attTibutable to a single activity J allocated dirwtly to that ac1ivity. Shar¢d costs which contribute to more than one activity and support Costs wbich are not attributable to a single activity are apportiolled between those activities on a basis coL8istent with the use of resources. Central staff costs are allocated on the basis of time gpent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on dilY undertaking the activities which fiuther the Clwity's objectives, as well as any associated supp)rt costs. All expenditure is inclusiv¢ of iyrecoverable VAT. Debtors Trade and Oth debtors are recognised at the settlement amount after any trade diswunt off¢r¢d. Prepayments are valued at the amount prq)aid net of any trade discounts due. Cash at bank and in hd Cash at bank and ID hand includes cash and short-temi highly liquid investments with a short matiwity of three months or less from the date of acquisition or opcning of thc deposit or similar accowit. 23
THE PAROCHtAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLES])ON NORWICH FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS- condnued The notes of pages 22 to 29 form of these finanti*l ststements Note 2 Aecounting Policies- contlnued Liabilities alld provi5Aons Liabilities are recogniscd when there is an obligation at thc Balanc¢ Sh¢¢l date as a result of a past cvent. il is probable that a transfer of economic iefit will be required in settlement. and the amount ol the settlcm¢nt can be estimated reliably. Liabilities are reLognised at the amoutit that tbe Charity anticipates it will pay to settle the debt or thc amount it has received as advanced paymcnts for the goods or services it must providc. Provisions are measured at the best estimatc of the arnount4 required to settle the obligation. Whcre Ihe effect of the time value of money is material, theprovision is based on the present value of those amounts. discounted at th¢ pr¢-tax discount rate that reflects the risks specific lo the liabiliry. The unwinding of the discount is reeognised in the Statement of Financial Activities as a finance cost. Fund O¢COUDting Unrcstsict¢d funds comprise unrestricted fimds that bave been set aside by the Members for partieular purposes. The aim and usc of each designated fund is set out irt thc notes to thc funCIal statemcnts. Restricted fimds are funds which are lo be usedin accordance with specific restrictions imposed by donors or which bavc be¢n rdis¢d by the Charity for particular purpos¢s. The costs of raising and administering such funds are charged againsi the speL'ific fLmd. The aim 2nd us¢ of each restricted fund is set out in thc notcs to the financial statements. Investment income. gains and losses are allocated to the appropriate fund. 24
YHE PAROC CHURCH COUNCIL OF THE ECCLESIASTICAL PARISll OF KELLESDON NORcH FOR THE YEAR ENDED 31 DECEMBER 2023 F40TES TO THE FINANCIAL STATEMENTS- ¢ontiAued 1¥4ote 3 Anatysts of Income 2023 Unre8trAded Restslcted Funds Funds 2022 Total Fllllds Total Funds DONATIONS AND LEGACt£s Collections and other givings Legacies 35.854 870 36.724 36,630 460,(MNI 499 Tiltsl Charity collectiODS 566 617 Total Rent Sundry TraidcTrft Weddings and fimerals 8,454 suraa¢e claim retIng to theft of altar i*ms 22,786 Diocesan fvel grant 8,560 8.560 71 12.117 249 116 10.711 760 8,454 22,786 Totsl INcoh FROM llYVESTMENTS CBF investment fimd 14.761 1,620 16,381 987 3,671 Total SEPARATE TfEM OF MATEIUAL INCOME Friends of St Mary's 181089 Totsl TOTAL llYCOME
THE PAROCHL4L CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON NORWICH FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCLiL STATEMENTS. conlinued Note 4 AnAIysi8 of endhre 2023 Unre8tricted Restrieted funds fDnds 2022 Unrestrlcted Restricted funds Total funds Total funds Parish shar¢ Clergy expenses Parish cxpen5es Upkeep of services Organi8t Youtb expenses Paid to charities St Mary's exp$¢$ St Paul's Cn5¢S tnsurance Utilities CleaDing Athninlsecretarial Bookkeeping Indepelldent examiner Postage and stationery Repairs and renewals Copier rental 59.267 774 4,114 116 945 541 566 4,228 1547 3,008 5,307 1.680 3,039 650 300 376 59,267 774 4,114 40,000 818 4,397 127 985 206 617 1.575 1.116 9.498 5,339 1,680 2.166 650 40.0(K) 818 4.397 127 985 206 617 1,575 1.116 9.498 5.519 6.485 2,166 650 945 541 566 4.228 1.547 3,008 5,457 6,355 3,039 650 300 376 150 4.675 180 4.805 817 1.936 817 1,936 Note 5 Details of certain items of e4)endlture Wages ¢osts are sllown as Admin15ecretaiial, and no employees earn over £60.000. The average numb¢T of staff in the year is l (2022.. 1). 'Ihe independent examin¢Vs remuneration amounts to an ind¢p¢nd¢nt examin and accounts preparation fee of £300 (2022: £900). DuTing thc year, Andr¢w Ald 1c1Ved remuneration of £650 in respect of adminRstration rVices. {2022'. £650). During the yw ended 31 December 2023, no other trnstee expenses have been incurrcd (2022.. £NIL). 26
THE PAROCllIL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON IYORWICH FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO TllE FINANCIAL STATEMENfs- conrfnued Note 6 Debton pttpayments 2023 2022 An#11$ of debtors olldebtorS Th¢ oth¢r d¢btOT T¢lated to the transfer ofthe funds of The Friends of St Mary's. Note 7 Credlior$ and acenth Amounts due after more thAn One Year 2022 Due withln One Year 2023 2022 2023 4,132 Note 8 Investments and cash at bank 2023 2022 Cash at bank alld in hand Othcr invcslmcDts 283.334 472 357 90.524 431737 140ts 9 Related party traDsactions Th¢ Charity has not enter into any related party transathions during the yegr, nor are there any outstsnding balances owing between related parties and the Charity at 31 December 2023. 27
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OF ENGLAND Dioc of Norwich Independent Examiners Certificate Report to the trust¢¢slm¢mbers of: On accounts for th¢ y¢ar end. Clwity J)umber'. Hellesdon PCC 31 Decanber 2023 1144178 I report to the trustees on my examination ofthe accounts of the above charity (*he Tnt1 for the year ended 31 December 2023. RespoD51bllltles Y4nd basts of report As the charity's truste¢s. you are responsibl¢ for the preparation of the accounts in aordanCe with the requiTeznents of the Cl]aTities Act 2011 ('Yh¢ Act"). I report in respect of my examination of the Trust's accounts Caled out under section 145 of the 2011 Act and in canying out my examillation. I have followeAI all the applicable Directions given ty the Cjwity Commission under section 145 (SXb} of the Act. Independent examiuer's statement I bav¢ completed my examination. I confinn that no lltla1 hav¢ com¢ to my attejrtion in connection with ihe ¢x0Jnination which gives me cause to believe that any material resixrt.. the accounting record8 were not kept in accordance with section 130 of the Chazities Act. or the accounts did not accord with the accounting records" or the OUntS did not comply with the applicable requir¢m¢nts co1¢Illg the fonn Hnd cont¢nt of accounts set out in the Chatities (Acc4Mmts and ReFths) Regulations 2008 other than any requirement that the accounts give a and rai view which is not a matter wn5ider¢d as part of an independent I bav¢ no concerns and hav¢ come a¢ no other matters in COMCtiOn witb the examination to which att¢ntion sl)ould be drawn in this report ID ord¢rto enable a proper unddIngOfthe accountsto be r¢ache<L Signed: Date: I I Namc". M W L4mb FCCA Relevant prof¢ssional qua]ification{s) orb(Mty (rfaoy): ACCA Address: Saxon House Hell¢sdon Park Road Drayton High Road Norwicb NR6 5DR 19
THE PAROCHIAL CHURCH COUNCIL OF TllE ECCLKSIASTKCAL PARISH OF HELLESDON NORWICH FOR THE YEAR ENDED 31 DECEMBER 2013 STATEMENf OF FINANCIAL AIVITIEs 2023 Total Funds 2022 Total Unrestrlcted Restrfeted Funds FuDd8 INCOMtNG RESOURCES (note 3) [kntions and legaci¢s Charitable activities Other tiillg activities Investments 43,698 870 44.568 506 42.810 22,368 505,129 617 23,193 5.450 181089 42,050 20.748 760 1,620 Totsl RESOiiRCLS EXPENDED (nots 4) Expenditu on.. Charitable activities NET INCOMFJ(EXPENDrruRE) BEFORE INVLSTMENT GAINSIILOSSES) Net unreakn gain{10) on investment 20,127 (2.112) 18.015 637,667 Net movement In funds 55.649 2,986 58.635 607.985 209 55.858 N¢1 mov¢meDt in fid8 aftertr8L8fers 2,777 58,635 607,985 RECONCItJATION OF FUNDS Total funiL8 brou8bt forwanl 698 Total funds canled forward
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESTASTICAL PARISH OF HEILESDON NORWICH FOR THE YEAR ENDED 31 DECEMBER 2023 BALANCE SHEET 20LI 2022 Current Assets Debtors CUent account Deposit account 3,471 20,933 258,851 3550 472 181,089 8,563 77,864 4,097 431737 Invest¢d fimds Totsl A$6ets 759 162 Current Ihbilities Credlto Total Llabllldes A¥Rts less lirdbfilde4 28,090 1,145 1,690 1,116 5,(K)O 13,800 13(M) 4,776 353 14,995 44,293 53,237 413,069 7,422 1,384 1,988 3239 5.(K)O 13,8(X) 2,300 1806 894 13,705 40,484 53237 377548 StPaul's Fabric Design&ted StPaul's Hall D¢si8nated St Mary's ChUhyal Restricted St Mary's Fabric Restricted St Mary's Webb Bequest R¢stricted St Mary's Thompson Bwst Restrlcted St Paul's New Build Projed R¢strided St Paul's Youth R¢stri¢ted St Mary's Churchy8rd Investsnent R¢stri¢t St Paul's New Build Proj¢¢t Investment Restricted St Mary's B Bush Inveslm¢nt D¢siwted (cash) St Mary's B Bush Invesim¢nt Designated (invt) St Mary's (Frien¢l% alc) Rwtrioted for b¢n¢fit of St Mary's 173 089 181089 Totsl Fundg The financial stat¢ments we approved aThl auth(rised forissueby the TnLStees and on theirbehalf by: Akn Alder. Tre05ur¢r 11-3-Z* 2024 21
THE PAROCHIAL CHURCH COUNCIL OF ThE ECCLESIASTICAL FARISR OF HELLESI)ON NORWICH FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO TllE FINANCIAL STATEMENTS The notes of ge$ 22 to 29 forn part of these 1Snanclil 8tstements Nots l Basis of Preparatlon These accounts have been pr¢par¢d lllld the historical Cost convention with it¢ms recogni5cd at cost or transaction value unless otherwise stated iti th¢ relevant note(s) to these accounts. th¢ Ststancnt of Reconunended Practice". Accounting and Reporting by CIwAties preparing their ac¢ounts in a¢cordanc¢ with the Financial Reporting Standard applicable in theUK and RUbliC of Ireland (FRS 102) (¢ffective l January 2019) the FitLqncial R¢porfing Standard applicable in the United Kingdom &Dd Republic of trelaod (FRS 102) and with the Clwities Act 2011. The cknty constitutes a public benefit entity as defined by FRS 102. General IDfonnAtlon Th¢ Paro¢hial chUh Council of the Ecclesiastical Parish of Hcllesdon is a regist¢r¢d ¢lwity, nurnber 1144178. R¢gistration look place on 7 October 201 l. Th¢ regist¢red office foT the Glwity is The Vicardge. Broom Avenue. Hellesd0 NorwiclL NR6 6LG. The charity is governed by the Parochial chUh Council Pow¢TS Musur¢ (1956) as Am¢nd¢d and chUh R¢pT¢s¢ntation Rul¢s. ote2 Accounting Policies Ijkcome AU Ancome is recognised once the Charity has entitlement to the iticome, it is probable that the income will be recelved and the amount of income receivable can be measured reliably. Th¢ Tccognition of income from legacies is dependent on establishing entitlement, the probability of relp¢ and the ability io estimate with sufficient accuracy the amount rec¢ivabl¢. Evidence of ethitlem¢nt to a legacy ¢xists wh¢n the Charity bas suffici¢nt idence that a gift has been l¢ft to them (through knowledge of the ¢xist¢nc¢ of a valid will and th¢ death of the b¢n¢factor) and the executor is satisfied that th¢ propety in qUtion will notbe required to satisfy elaims in tbe estate. Receipt of a legacy must be recognised whenit is probable that it willbe received and the fair value of the amount receivable. which will generally be the expected cash amount to be distributed to the CharAty, can be rcjiably measured. Grants are included An the Ststement of fnCial activities on a receivable b&gis. The balanc¢ of income received for specific purposes but not expended durAng the peri(K1 is thown in the relevant fuTJds on the Balance Sheet. Where illcome is received in advance of elltitlernt of receipL its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before iome is rwxived. the income is accrned. 22
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PAJUSH OF HELLESDON NORWJCH FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATETrtENTS. conrfM¢d Th¢ not¢$ of pages 22 to 29 forn part of theBt finan¢ial ststtments Notr 2 Accounting PolicieN. conlin4ed ]n¢ome- ¢onilnM¢d Income t&X Tecoverable in reJati<)n to donations received under Gift Aid or deeds of covenant is cogni5ed at the time of the donaion. Income tax recoverable in relton to investment Income is recogtiised at the time the investment income is receivable. Other income is recogDis¢d in the pffliod in which it is re1Vable and to th¢ ext¢nt the goo& lthve provided or on completion of th¢ servi¢¢. Expenditure is recognised once there is a legal or consknictive objigation to transfer economi benefit to a third pty. it is probable that a transfer of economic ben¢fits will be required in settlement and the ount of the obligation can be measured reliably. Expenditure is classified by tivity. The ¢osts of ¢a¢h aotivity are made up of th¢ totsl of dir¢ct Costs and shared costs, including support costs involved in undertaking each activity. Direct costs attTibutable to a single activity J allocated dirwtly to that ac1ivity. Shar¢d costs which contribute to more than one activity and support Costs wbich are not attributable to a single activity are apportiolled between those activities on a basis coL8istent with the use of resources. Central staff costs are allocated on the basis of time gpent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on dilY undertaking the activities which fiuther the Clwity's objectives, as well as any associated supp)rt costs. All expenditure is inclusiv¢ of iyrecoverable VAT. Debtors Trade and Oth debtors are recognised at the settlement amount after any trade diswunt off¢r¢d. Prepayments are valued at the amount prq)aid net of any trade discounts due. Cash at bank and in hd Cash at bank and ID hand includes cash and short-temi highly liquid investments with a short matiwity of three months or less from the date of acquisition or opcning of thc deposit or similar accowit. 23
THE PAROCHtAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLES])ON NORWICH FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS- condnued The notes of pages 22 to 29 form of these finanti*l ststements Note 2 Aecounting Policies- contlnued Liabilities alld provi5Aons Liabilities are recogniscd when there is an obligation at thc Balanc¢ Sh¢¢l date as a result of a past cvent. il is probable that a transfer of economic iefit will be required in settlement. and the amount ol the settlcm¢nt can be estimated reliably. Liabilities are reLognised at the amoutit that tbe Charity anticipates it will pay to settle the debt or thc amount it has received as advanced paymcnts for the goods or services it must providc. Provisions are measured at the best estimatc of the arnount4 required to settle the obligation. Whcre Ihe effect of the time value of money is material, theprovision is based on the present value of those amounts. discounted at th¢ pr¢-tax discount rate that reflects the risks specific lo the liabiliry. The unwinding of the discount is reeognised in the Statement of Financial Activities as a finance cost. Fund O¢COUDting Unrcstsict¢d funds comprise unrestricted fimds that bave been set aside by the Members for partieular purposes. The aim and usc of each designated fund is set out irt thc notes to thc funCIal statemcnts. Restricted fimds are funds which are lo be usedin accordance with specific restrictions imposed by donors or which bavc be¢n rdis¢d by the Charity for particular purpos¢s. The costs of raising and administering such funds are charged againsi the speL'ific fLmd. The aim 2nd us¢ of each restricted fund is set out in thc notcs to the financial statements. Investment income. gains and losses are allocated to the appropriate fund. 24
YHE PAROC CHURCH COUNCIL OF THE ECCLESIASTICAL PARISll OF KELLESDON NORcH FOR THE YEAR ENDED 31 DECEMBER 2023 F40TES TO THE FINANCIAL STATEMENTS- ¢ontiAued 1¥4ote 3 Anatysts of Income 2023 Unre8trAded Restslcted Funds Funds 2022 Total Fllllds Total Funds DONATIONS AND LEGACt£s Collections and other givings Legacies 35.854 870 36.724 36,630 460,(MNI 499 Tiltsl Charity collectiODS 566 617 Total Rent Sundry TraidcTrft Weddings and fimerals 8,454 suraa¢e claim retIng to theft of altar i*ms 22,786 Diocesan fvel grant 8,560 8.560 71 12.117 249 116 10.711 760 8,454 22,786 Totsl INcoh FROM llYVESTMENTS CBF investment fimd 14.761 1,620 16,381 987 3,671 Total SEPARATE TfEM OF MATEIUAL INCOME Friends of St Mary's 181089 Totsl TOTAL llYCOME
THE PAROCHL4L CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON NORWICH FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCLiL STATEMENTS. conlinued Note 4 AnAIysi8 of endhre 2023 Unre8tricted Restrieted funds fDnds 2022 Unrestrlcted Restricted funds Total funds Total funds Parish shar¢ Clergy expenses Parish cxpen5es Upkeep of services Organi8t Youtb expenses Paid to charities St Mary's exp$¢$ St Paul's Cn5¢S tnsurance Utilities CleaDing Athninlsecretarial Bookkeeping Indepelldent examiner Postage and stationery Repairs and renewals Copier rental 59.267 774 4,114 116 945 541 566 4,228 1547 3,008 5,307 1.680 3,039 650 300 376 59,267 774 4,114 40,000 818 4,397 127 985 206 617 1.575 1.116 9.498 5,339 1,680 2.166 650 40.0(K) 818 4.397 127 985 206 617 1,575 1.116 9.498 5.519 6.485 2,166 650 945 541 566 4.228 1.547 3,008 5,457 6,355 3,039 650 300 376 150 4.675 180 4.805 817 1.936 817 1,936 Note 5 Details of certain items of e4)endlture Wages ¢osts are sllown as Admin15ecretaiial, and no employees earn over £60.000. The average numb¢T of staff in the year is l (2022.. 1). 'Ihe independent examin¢Vs remuneration amounts to an ind¢p¢nd¢nt examin and accounts preparation fee of £300 (2022: £900). DuTing thc year, Andr¢w Ald 1c1Ved remuneration of £650 in respect of adminRstration rVices. {2022'. £650). During the yw ended 31 December 2023, no other trnstee expenses have been incurrcd (2022.. £NIL). 26
THE PAROCllIL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON IYORWICH FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO TllE FINANCIAL STATEMENfs- conrfnued Note 6 Debton pttpayments 2023 2022 An#11$ of debtors olldebtorS Th¢ oth¢r d¢btOT T¢lated to the transfer ofthe funds of The Friends of St Mary's. Note 7 Credlior$ and acenth Amounts due after more thAn One Year 2022 Due withln One Year 2023 2022 2023 4,132 Note 8 Investments and cash at bank 2023 2022 Cash at bank alld in hand Othcr invcslmcDts 283.334 472 357 90.524 431737 140ts 9 Related party traDsactions Th¢ Charity has not enter into any related party transathions during the yegr, nor are there any outstsnding balances owing between related parties and the Charity at 31 December 2023. 27
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