Treasurer’s Report to the BJBSB PCC on the Finances for 2023
Attached is the Independent Examiners report on the financial records that have been kept on behalf of the PCC for Burton Joyce, Bulcote and Stoke Bardolph for the year ending 31[st] December 2023.
Also attached is the Balance Sheet and Financial Statement for the year.
Although there has been a slight increase in giving as a result of increased church attendance, ‘extraordinary’ donations were less than last year. The church has made a small increase in its Parish Share, and there has been a small increase in church and premises lettings.
However, increased costs in gas and electricity have outweighed additional income and the net result has been a further erosion (£5,965) of available funds.
Invested Restricted Funds held in shares have fared better than last year and interest rates are stronger and therefore deposit accounts have also done well. Restricted and designated funding has not seen any additional gifts in the year, and the net result has seen, again, a small (£2,891) reduction in those funds.
The church continues to have the ‘feel good’ factor that breeds optimism for this year, although continued economic pressures will continue to impact on both income and costs.
The treasurer is grateful for the help received from David Sheath for his continuing assistance. Also to Jo Foster for her support and advice.
Thanks as well go to Sally Luther for her work in examining, reporting and commenting on the accounts. Sally has finished her ‘term of office’ as Independent Examiner, and we are grateful for her input over the years. A new IE is being sought.
-Richard Rowe
Treasurer BJBSB PCC
Independent examiner's report to the trustses of the Parochial Church Council of st Helen's, Holy Trinity and St Luke's. I report to the trustees on my examination of the accounts for the year ended 31 December 2023. Responsibilities and basis of report As the Charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Ad.). I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5){b) of the Act. Independent examiner's statement The gfOSS income exceeded £25,000. necessitating a review and was less than £250,000 and so the Receipts & Payments method of accounting (rather than the Accruals method) has been used. I have completed my examination of the accounts presented to me and the financial position at 31.12.23 is summarised as follows. l am satisfied thal the financial statements present an accurate view of the Churches. financial position at the end of the year and the financial activities during the year. No material matters have come to my attention. Furthemore, l am satisfied that the Church's finances present a going concern and that outstanding liabilities can be met from funds. The unrestricted fund stands at £41 k, of which £15k is 'set aside" as an operational reserve to be used as a last resort. £k SOFA for the year ending 31.12.2023 UR Total Recelpts 55 19 74 Expenditure 61 19 83 Surplusl(deficit) in year UR-Unrestricted D=Designated R=Restricted
2023 2022 Movement Assets and liabilities.. Driver Trust Shares Daw's Trust Shares Driver deposit Daws deposit Driver deposit Extension deposit HT 90 83 HT HT HT 10 111 117 25 33 66 24 32 St H incl St L and HT Chancel Shares Chancel deposit Bank-. No 1 Bank.. No 2 Less owed as agent 11 13 31 18 362 370 -16 Represented by.. Unrestricted 41 47 Restricted funds 320 320 DeSnated Funds: OCH & hall mangers. fund 361 370 Details of movements on eochfund to be provided by R Rowe The funds are represented by cash and investments which have been checked and verified against bank and investment statements. A sample review of payments was carried out and supporting source documents and approval was checked. Comments from last year with this year s update in italics -Hall hire involS should be numbered consecutivety and not by date to ensure completeness of the invoicing process and collection of hall hire fees. -The card collection company °Goodbox- is in administration and on discussion it appears that a maximum of £50 may be but is unlikely to be at risk. This is not material and would not appear in the accounts until next financial year. N/A -Arrangements for paid work should be documented in a °current contractslarrangements" file. Now carried out and evidenced. -There has been no VAT claim under the Listed PlaS of Worship Grant scheme; Richard will investigate if there have been any qualifying expenses in 2022. D Sheath has investigated and a small amount of expense is eligible for VA T reclaim.
- The unrtain future of the Carnarvon Rooms may see a reduction in income which would be somewhat offset by a reduction in costs. The income for hire will be transfeffed to The Old School Trust, and all costs incurred by the church will also be charged to The Old School Trust. -cash assets may be better invested in deposit accounts now that interest rates have increased. No change. Generally, the process of recording financial transactions continues to improve and the next steps may be to simplrfy processes further. For instsnce the Restricted Funds do not necessarity have a 1-1 correlation with the bank and deposit accounts and share holdings. The point of a Balance sheet is to fecord net assets and then show how these assets in total are represented by Funds. Consideration should be given to amalgamating the funds to simplify their use and accounting. Finally. I would like to thank Richard Rowe for his help and for presenting a clear, accurate and well documented set of accounts. Signed= (by e mail) Name: Sally Luther CMA, ACT. Address: 23, Whitfield, Stanford in the Vale, Oxon. SN7 8FL Date'.9.4.24
| Movement | -10,901.20 | -1,362.65 | 3,881.45 | 614.75 | 412.96 | 828.84 | -47.45 | 13.50 | 17,033.13 | -23,907.50 | -2,199.02 | -15,633.19 | -875.17 | -11,070.02 | -3,688.00 | -15,633.19 | |||||||||||||||||
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| BURTON JOYCE WITH BULCOTE AND STOKE BARDOLPH PCC | Financial Statements for the Year ending 31. December 2022 | Balance Sheet at 31 December 2022 | 2022 2021 |
CURRENT ASSETS £ £ |
CCLA | Holy Trinity Driver Trust Shares 82,645.60 93,546.80 |
Holy Trinity Daw’s Trust Shares 10,330.70 11,693.35 |
Holy Trinity Driver Trust Deposit 110,511.55 106,630.10 |
Holy Trinity Daw’s Trust Deposit 23,793.77 23,179.02 |
St Helen’s Driver Trust Deposit 31,810.86 31,397.90 |
St Helen’s Extension Trust Deposit 63,846.42 63,017.58 |
Chancel Shares 359.71 407.16 |
Chancel Deposit 218.82 205.32 |
Bank Accounts | No 1 Nat West Bank Account 30,943.01 13,909.88 |
No 2 Nat West Bank Account 18,087.64 41,995.14 |
Less Funds held in No.2 a/c 'Owed as Agent' (2,199.02) |
TOTAL NET ASSETS 370,349.06 385,982.25 |
PARISH FUNDS | Unrestricted 46,915.43 47,790.60 |
Restricted 320,109.63 331,179.65 |
Designated funds held in No. 2 a/c 3,324.00 7,012.00 |
TOTAL FUNDS 370,349.06 385,982.25 |
NOTE:- | Residual Restricted and Designated Funds Money held in No 2 A/C | Holy Trinity Driver Trust 66.55 |
Holy Trinity Daws Trust -2706.84 |
St Helen’s Driver Trust -3107.09 |
St Helen’s Extension Trust -1798.46 |
St Helen’s Hall Management Fund 3324.00 |
St Helens Co-op Toddler & Community Fund 4138.04 |
Total (83.80) |
PARISH FUNDS values have been adjusted to reflect the above |
| Movement | £ | 7,775.60 | 971.95 | 6,042.11 | 1,075.11 | 1,019.51 | 2,046.22 | 33.85 | 17.89 | -19,766.74 | -5,030.18 | -3,041.62 | -8,856.30 | -5,965.74 | 433.44 | -3,324.00 | -8,856.30 | -264.50 | -6,834.13 | -4,743.27 | -4,269.56 | -3,324.00 | -2,437.34 | (21,872.80) | |||||||||
| BURTON JOYCE WITH BULCOTE AND STOKE BARDOLPH PCC | Financial Statements for the Year ending 31. December 2023 | Balance Sheet at 31 December 2023 | 2023 2022 |
CURRENT ASSETS £ £ |
CCLA | Holy Trinity Driver Trust Shares 90,421.20 82,645.60 |
Holy Trinity Daw’s Trust Shares 11,302.65 10,330.70 |
Holy Trinity Driver Trust Deposit 116,553.66 110,511.55 |
Holy Trinity Daw’s Trust Deposit 24,868.88 23,793.77 |
St Helen’s Driver Trust Deposit 32,830.37 31,810.86 |
St Helen’s Extension Trust Deposit 65,892.64 63,846.42 |
Chancel Shares 393.56 359.71 |
Chancel Deposit 236.71 218.82 |
Bank Accounts | No 1 Nat West Bank Account 11,176.27 30,943.01 |
No 2 Nat West Bank Account 13,057.46 18,087.64 |
Less Funds held in No.2 a/c 'Owed as Agent' (5,240.64) (2,199.02) |
TOTAL NET ASSETS 361,492.76 370,349.06 |
PARISH FUNDS | Unrestricted 40,949.69 46,915.43 |
Restricted 320,543.07 320,109.63 |
Designated funds held in No. 2 a/c - 3,324.00 |
TOTAL FUNDS 361,492.76 370,349.06 |
NOTE:- | Residual Restricted and Designated Funds Money held in No 2 A/C | Holy Trinity Driver Trust -197.95 66.55 |
Holy Trinity Daws Trust -9540.97 -2706.84 |
St Helen’s Driver Trust -7850.36 -3107.09 |
St Helen’s Extension Trust -6068.02 -1798.46 |
St Helen’s Hall Management Fund 0.00 3324.00 |
St Helens Co-op Toddler and Community Fund 1700.70 4138.04 |
Total (21,956.60) (83.80) |
PARISH FUNDS values have been adjusted to reflect the above |
PAROCHIAL CHURCH COUNCIL OF BURTON JOYCE WITH BULCOTE AND STOKE BARDOLPH
Financial Statement for the Year Ended 31 December 2022
| Receipts and Payments Accounts RECEIPTS Voluntary Receipts: Planned Giving Collection at Services All other Giving / Voluntary receipts Gift Aid Recovered Activities for Generating Funds Donations Investment income Share value movement Church activities / Hall Lettings Other Receipts TOTAL RECEIPTS PAYMENTS Church Activities Diocesan Parish Share Contribution Ministry and Staffing Costs Church Running Costs Premises Running Costs Mission Giving Insurance Cost of Generating Funds Licence Fees General Costs TOTAL PAYMENTS RECEIPTS over PAYMENTS |
Unrestricted Designated Restricted TOTAL Funds Funds Funds 2023 £ £ £ 23,851 23,851 7,359 7,359 1,258 1,258 4,990 4,990 37,458 - - 37,458 153 153 10,201 10,201 8,781 8,781 14,883 14,883 2,000 2,000 - 17,036 - 18,982 36,018 54,494 - 18,982 73,476 42,460 42,460 178 178 6,450 3,324 17,248 27,022 3,013 3,013 - - 3,761 1,301 5,062 256 256 127 127 4,214 4,214 60,459 3,324 18,549 82,332 (5,965) (3,324) 433 (8,856) 2023 |
2022 |
|---|---|---|
| Unrestricted Designated Restricted TOTAL Funds Funds Funds 2022 £ £ £ 22,216 22,216 6,649 6,649 2,083 2,083 7,810 7,810 |
||
| 38,758 - - 38,758 3,260 4,569 7,829 5,751 5,751 (12,311) (12,311) 13,380 13,380 - - |
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| 16,640 - (1,991) 14,649 |
||
| 55,398 - (1,991) 53,407 |
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| 39,960 39,960 2,996 2,996 3,657 3,688 8,167 15,512 1,391 1,391 3,000 3,000 4,141 912 5,053 755 755 373 373 - |
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| 56,273 3,688 9,079 69,040 |
||
| (875) (3,688) (11,070) (15,633) |