## **Portishead Church of England** Charity Registration No. 1145151 ## **Trustees’ Report and Financial Statements** of ## **The Parochial Church Council of the Ecclesiastical** ## **Parish of Portishead** Year Ended **31 December 2023** **The Parochial Church Council of the Ecclesiastical Parish of Portishead** ## **Report of the Trustees Year ending 31 December 2023** ## **INDEX** |**Sec�on**|**Page**| |---|---| |Report of the Trustees|1 - 9| |Independent Examiner’s Report|10| |Statement of Financial Ac�vi�es|11| |Balance Sheet|12| |Notes to the Financial Statements|13 - 21| **The Parochial Church Council of the Ecclesiastical Parish of Portishead** ## **Report of the Trustees Year ending 31 December 2023** ## **Administrative Information** St Peter’s Church is situated between Church Road North (BS20 6PS) and Church Road South (BS20 6PU), Portishead, and St Nicholas’ Church (BS20 8EN) is situated on Nore Road, Portishead. The correspondence address is The Church Office, St Barnabas Centre, West Hill, Portishead, Bristol, BS20 6LN. We are part of Bath and Wells Diocese and sit within the Deanery of Portishead (Portishead, Nailsea, Clevedon, Long Ashton, Backwell, Yatton and the surrounding villages). ## **Aim and Purposes** Our aims and purposes reflect those set by the Church of England. _‘The primary aim of all PCCs is promotion of the gospel of our Lord Jesus Christ according to the doctrine and practices of the Church of England.’_ ## Our Vision Statement ## **‘Growing and Going in God’s Love’** Page 1 of 21 **The Parochial Church Council of the Ecclesiastical Parish of Portishead** ## **Report of the Trustees Year ending 31 December 2023** Out of a conviction that God’s love is the beating heart of all that we do, we recognise that this will guide our relationship with God, with one another, and with others. We respond by seeking to: - go deeper in our experience of God’s love for us and our love for him - be generous in showing God’s love for, and hospitality to, one another - be courageous in reaching out with God’s love Fundamentally, the church in Portishead exists for the common good and a flourishing of those who are part of the worshipping community and those who are not. ## Diocesan and Deanery Vision statements Bath and Wells Diocesan Vision is, ## ‘ _**In response to God’s immense love for us we seek to be God’s people living and telling the story of Jesus**_ ’. Four particular areas of ministry and mission emerge from this: - to value and cherish the people and resources we already have - to develop new Christian worshiping communities - to share in ministry and leadership - to deepen and grow faith Portishead Deanery Vision Statement is, ## **’B** _**ecause we work better together’**_ The Deanery has identified three tasks to guide our participation in God’s mission within this part of North Somerset: - **inspire** us to respond to God’s call where we are - - - **equip** people to share in ministry and leadership - **communicate** better by sharing and publicising events or initiatives taking place in our locality ## **Objectives and Activities** Portishead Church of England is, by choice, a diverse and inclusive church. We are busy, with many people involving themselves in a range of different congregations, activities and acts of mission and service. ## Our vision statement is ‘ _**Growing and Going in God’s Love’**_ We are a Christ-centred community. We live this through our generosity, compassion, courage and joy. Over the course of 2023 we had the following priorities: - Growing Deeper - Growing a Culture of Mission - Growing Younger - Growing our Care for One Another - Improving our Finance and Buildings - Developing Leadership Expanded details of these priorities are incorporated in the Parish Development Plan. Page 2 of 21 **The Parochial Church Council of the Ecclesiastical Parish of Portishead** ## **Report of the Trustees Year ending 31 December 2023** ## **Achievements and Performance** We recognise that healthy finances enable us to deliver our objectives; and much of our work is achieved through the generous gifts of expertise and time. The value of this is hard to measure, but a calculation of the value of contributed time and expertise for our 2019 HLF Storyboat 700+ application suggested that, even in this limited project, the anticipated monetary value of volunteer effort was in excess of £50k. A huge number of people contribute in a variety of ways. We have singled some out here, but not because they are in any way more important than the many other people involved. ## **Ministry Team** Our core team has remained largely settled through 2023. We were pleased to appoint Rachel Skraba to the vacant role of Church Administrator in January. Revising the role, with reduced hours and increased flexibility, helped us appoint an excellent candidate from a strong field. Rachel is a friendly and efficient first port of call for many, and manages the office effectively. The make-up of ministry role holders remained unchanged during the year. Rev Rob Eastwood Dewing continued as Team Rector and Co-Area Dean of Portishead Deanery. Rev Tonya Nixon has made the role of Team Pastor, her own in her second year in post and doing a great job of leading our team of Lay Pastoral Assistants. Rev Mark Fuller continues to develop the role of Team Pilgrim while overseeing our work with Children and Young People. And Rev Lindsay Smith is doing a fantastic job as Pioneer Curate, with her work on the Willow Garden and Martha’s Kitchen being particularly significant. We are ably supported by our three Lay Readers (Simon Stevens, Mary Duncan and Graham Finch) the team of Church Wardens (Pearl Walker, Paul Jeffery and Kathryn Phillips) and Deputy Wardens (Chris Harries, Olwyn Kiero-Watson, Jennie McDuff and Diane Yeoman) along with Gill Colston as PCC Secretary, Adrian Cocker our Treasurer and many, many others. ## **Summary of Activities** ## **Pastoral** It was sad to see a number of faithful members of the church family die during 2023. These included Margaret Curry, Bill Walford, Mollie Newbold, Eileen Davies, Ann Milligan, Diane Bridgwater, Sarah Ellaway, Be�y Jeffery and David Moore. They will all be missed. Our team of Lay Pastoral Assistants led by Tonya Nixon and Jean Eburne has con�nued to do some wonderful work suppor�ng those in need and taking communion to those who are housebound. Tonya’s Weekly ‘loitering in cafes’ in the High Street has made her accessible to people, some of whom have come in u�er need, and others for a chat A **Bereavement Support Group** was launched in November. This is a safe space to share, to be together and to listen to people’s grief. The occasional offices (Weddings, Baptisms and Funerals) are a mainstay of our pastoral and outreach work. In 2023 we conducted the following occasional offices (2022 figures in parenthesis): - Baptisms: 23 (26) - Weddings: 3 (6) - - Funerals: 49 (53) Page 3 of 21 **The Parochial Church Council of the Ecclesiastical Parish of Portishead** ## **Report of the Trustees Year ending 31 December 2023** It was a par�cular highlight to see Kate Banwell bap�sed in the 11.30 service on 12[th] March. This was a moment of great significance for her and good to have a number of family members present. We also took 4 young people to be confirmed in Wells Cathedral on 4[th] November. Lindsay and Tonya led their prepara�on, praising the discussions, their engagement with the tasks set, and their commitment. We were joined by Bishop Michael during a two day visit to the parish the following day and some of them were able to receive their first communion from him. ## **Worship** Our pattern of services continued largely unchanged through 2023, having seen significant alternations in the previous year or so. One significant addition has been introduction of _The 9.45 Special_ on the 3[rd] Sunday of each month at St Peter’s. This is headed up by Tonya and Lindsay and focusses on families with younger children. A light breakfast is served beforehand and the service itself is informal and relaxed, with craft activities to engage in. Responses have been very positive with a Teddy Bear themed September service and Nativity in December being particular high points, the latter attracting more than 60 children. Attendance at parish services remains below our pre-Covid levels, but there have been signs of life and growth, particularly through the 9.45 Service and The Gathering. We aim to provide something for everybody. Christmas 2023 also saw significant increases in attendance over last year, and it was a joy to see the churches full on a number of occasions. Our 5[th] Sunday in month United Services initiative has not attracted everybody, but we view them as an important means of shaping our worship and our shared life. The way the calendar fell meant we had several in quick succession in the second half of 2023. The peculiarities of the calendar means far fewer in 2024. Continued thanks to all our musicians and those who lead our worship. Cathy Jackson, Andrew Curtis and Roy Jukes and the Music Groups and Choirs have led us really well. Thanks too to our Lay Readers. Our Tech Team upgraded our sound system at St Peter’s towards the end of the year. Sam Rowe’s contribution to this was particularly valuable. The improvements in sound quality (stemming from installing speakers in the Chancel) have made a huge difference to the experiences of those who join us through our livestream. We are looking to recruit new members of the team in 2024. ## **Outreach / Community** We continue to be a presence for good in this community, seeking to live as the people of God here. It has been particularly exciting that much of our outreach has been done in partnership with other churches or organisations. Some highlights of our activities in the last year have been: **Willow Community Gardens** (willowcommunitygardens.co.uk) continues to thrive and, quite literally, grow. People of all ages are using the garden to its full potential. Last year, the RHS recognised our work through a community garden award. Additional events such as Muddy Play Days with Gordano Valley Church have also taken place here. **Martha’s Kitchen,** an initiative led by Lindsay Smith in partnership with the Methodist Church, supports many families who find life challenging for many reasons. During the last year, free cooked breakfasts provided for families during the school holidays have been at capacity. A second venue, in partnership with the local youth club, has been opened for families supporting children with Special Educational Needs (SEN). This has been well attended and a great place where we, as a church, are the guests in another space. Working with SEN families Page 4 of 21 **The Parochial Church Council of the Ecclesiastical Parish of Portishead** ## **Report of the Trustees Year ending 31 December 2023** is a huge part of Lindsay’s ministry. As part of her curacy training she has begun a placement at Springboard in Clevedon; an exceptional place where children with disabilities are able to learn and flourish. The Gordano Christians Against Poverty Centre was set up in conjunction with a handful of other churches in Portishead, Clevedon and Nailsea. The centre manager, Ann Tarr, has been doing excellent work helping those trapped in debt to find routes out. The Gordano Chaplain project has seen four Portishead Churches work with the school to provide a part time chaplain for staff and students. Sadly, it came to an end in the summer of 2023 because of Gordano Schools’ financial situation. Becky Cox, the chaplain, has done outstanding work with the support of Simon Stevens. We were sad to see her move on to alternate employment. ## **Children and Families** In our desire to **Grow Younger** we have been inspired by the Church of England's 'Growing Faith' initiative and are on a journey to change our culture and instinctively put children and young people at the heart of all we do. In particular, this is about recognising faith growth among children and young people occurs at the intersection of the three spheres of church, school and household. With that in mind, we continue to run activities for our children and young people such as Pebbles, Youth Church and Ragamuffins and are hugely thankful to the teams who lead these activities. It has also led us to consider how we can better support and nurture faith within households. A group of families now meet monthly to worship, read the bible and pray together. We are also in the middle of a ‘Parenting for Faith’ Lent course as we seek to create space for families to journey alongside each other, sharing the joys and struggles of 'doing faith' together. We are thankful for the strong relationship we have with our local schools and are continuing to explore how this relationship can continue to be one of reciprocity and mutual blessing. Looking at these links through the lens of Growing Faith has allowed us to affirm what we already do and to identify future opportunities. As well as our church schools, Mark regularly goes into High Down to lead assemblies for festivals such as Easter, Harvest and Christmas. Over the course of 2024 Mark will be taking part in the **Growing Faith Strategic Leaders Development programme** which will lead to further learning and insight in this vital area. A key aspect of **Growing a Culture of Mission** is that we continually reflect on how we are engaging with those beyond our church community. Much of Mark's work in this area naturally crosses over in our work with children and families. It has been wonderful to see how the **Messy Church** gathering continues to be an intergenerational space of joy, hospitality, creativity and discipleship. Both **Refresh** and **LLaDs** (Lads, Lassies and Dads) allow us to regularly connect with large numbers of families on a weekly and monthly basis. Again, we are so thankful for the teams who make these spaces so welcoming and accessible. We have been able to deepen these connections through exciting events such as our (now annual!) **Campfire Christingle** and **Pancake Party** . A significant number of these families have also started attending **The Gathering** and the 9.45am Special. It widens our perspective of who we are and how we impact our community when people feel part of the church and get involved, even if they might not regularly attend services on a Sunday morning. We also play a significant part in the **Portishead Wellbeing Partnership** , a wide-ranging group of local organisations who work for the benefit of all in our town. All well as a chance to signpost what we already do, connections made here have led to Mark beginning a monthly **Table Talk** group at Portishead Library. Page 5 of 21 **The Parochial Church Council of the Ecclesiastical Parish of Portishead** ## **Report of the Trustees Year ending 31 December 2023** ## **Discipleship** Our weekly ‘Thought for the Day’ video recording has proved very popular – continuing to attract in the region of 100 viewers. A small group has continued to meet weekly for midweek ‘Coffee’ over Zoom. Home Groups continue to meet, and although there has been interest in doing more, our attempts to start a new gathering at the beginning of the year did not attract enough people to be viable. ## **Lent** We ran a course entitled ‘A Place for Us’ based upon the recent film version of West Side Story, which attracted a small group. Others met to read and discuss the book ‘Failure’ by Emma Ineson. Introduc�on of ‘Lenten Peace’ - 30 minutes of contempla�on and quiet in a candle lit church, is an important and helpful offering of space to allow people just to ‘be’ and to wonder on God’s love. In September, Mary Duncan and Tonya led a course on ‘The Ques�ons Jesus Asked’. It was thought provoking, and opinions differed, but all le� the sessions feeling like they had engaged closely with Christ. ## **Deanery Synod** . We have three representatives on Deanery Synod. As part of a deployment review, Portishead Deanery has been looking at how to reduce stipendiary clergy numbers from 16 to 13. Synod approved these reductions at its meeting in April. Two of those savings have been achieved and the third will be made when one of the Team Clergy leaves Portishead; they will not be replaced. ## **Future Plans** _**Finance -**_ Our costs are increasing year on year. We managed to meet our expenses and had sufficient surplus in 2023 to make up our Partnership Giving support for mission to £20k. With our parish share rising significantly in 2024 we will need to continue to look for ways to increase our income if we are to be able to continue to keep our finances in surplus. In this we recognise that we are hugely reliant on the generosity of our members. _**Buildings**_ - A Buildings Vision Group is meeting to explore how we can make our two beautiful buildings fit for purpose into the future, particularly looking at community use and provision for children and families. We anticipate plans will be produced soon. We will need to rectify the cracks in the north west corner of St Peter’s, caused by subsidence in the dry summer of 2022, renovate the main doors at St Nicholas, and consider improvements to the AV systems in both churches. _**Children and Youth**_ - Mark’s involvement in the Church of England’s Growing Faith Initiative will be an important aspect of our future connection with our schools and families. It has already provoked important conversations in our schools and with families. It will be good to see how this changes us. _**Pastoral Support**_ - Weddings, Baptisms and Funerals remain an important part of our ministry, but we are also aware that the numbers of services, we are asked to perform, is falling – most dramatically baptisms in the year ahead. We need to explore the reasons for this and see what can be done to reverse this trend. _**Stipendiary Clergy Allocation**_ - Following the deanery review in 2023 we know that the number of stipendiary clergy in Portishead will reduce from three to two when the next vacancy occurs. We need to continue to prepare ourselves for this change. Page 6 of 21 **The Parochial Church Council of the Ecclesiastical Parish of Portishead** ## **Report of the Trustees Year ending 31 December 2023** ## **Financial Review** The principal funding sources for both churches are the generous giving of members (including Gift Aid), income from weddings and funerals and from other organised activities. Our spending has enabled us to satisfy our charitable objectives and to support advancement of the Christian faith, children and youth work, and a wide range of community services. ## **Reserves Policy** The PCC has sought to build up free reserves to a level, both to support the operation of the church during any temporary reduction in income, and also to enable a controlled rundown of activities, if it becomes unfeasible to continue in our current form. The Trustees seek to hold free reserves at a level equal to 4 months’ staffing liabilities, 1 month’s Parish Share and 3 months’ running costs. In measuring free reserves the trustees exclude designated funds and monies set aside to meet essential future spending. At the year-end total reserves were £211.937 (2022 - £195,110) of which £12,463 (2022 - £23,922) were held in restricted funds. There were free reserves of £114,589 (2022 - £98,750). ## **Risk Management** The parish has developed a risk management framework to guide its activities. This is reviewed each year, and updated where changes are deemed appropriate. ## **Structure, Governance and Management** The PCC is a corporate body established by the Church of England. Appointment of PCC members is governed by the Church Representation Rules (Church House Publishing, revised 2020). All PCC Members are Trustees. Trustees are either appointed ex-officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules. All Trustees receive a copy of the Charity Commission publication CC3 'The Essential Trustee - What You Need to Know' as part of their induction, and to make new trustees aware of their legal responsibilities. The Diocese provides PCC (membership, trustee) training and all new PCC members are expected to participate. Committee members serve on Action Groups, specific to particular areas of the church’s life (Finance, Welcome and Witness, Mission, Worship, Nurture, Buildings, Children and Families), with delegated responsibility to act on behalf of the PCC, within the scope of group-specific Terms of Reference. Page 7 of 21 **The Parochial Church Council of the Ecclesiastical Parish of Portishead** ## **Report of the Trustees Year ending 31 December 2023** ## **PCC Members, Deanery Synod and Office Holders from 1[st] January 2023 until the date this report.** Team Rector Revd Rob Eastwood Dewing Team Pastor Revd Tonya Nixon Team Pilgrim Revd Mark Fuller Assistant Curate Revd Lindsay Smith Reader Representative Mary Duncan From 11th May 2023 Simon Stevens Until 11th May 2023 Church Wardens Paul Jeffery Kathryn Phillips Pearl Walker Deputy Wardens Chris Harries # Olwyn Kiero Watson Jennie McDuff Diane Yeoman From 11th May 2023 Representatives on Deanery Synod Mary Duncan From 11th May 2023 Betty Jeffery Until 11th May 2023 Paul Jeffery Until 11th May 2023 Sylvia Knightbridge From 11th May 2023 Gill Ogden Re-elected 11th May 2023 Sarah Stevens From 11th May 2023 Elected Members Wendy Ballard Until 16[th] January 2023 Kathryn Benjamin From 11th May 2023 Amy Broyd Re-elected 11th May 2023 Rosey Dimond Re-elected 11th May 2023 Graham Fiddler From 11th May 2023 Beth Hobbs Olwyn Kiero Watson Jennie McDuff From 11th May 2023 David Moore Until 21st April 2023 Funso Ojo Re-elected 11th May 2023 Kathryn Phillips Linda Taylor Re-elected 11th May 2023 Rodney Wheeler Until 8th March 2023 Treasurer Wendy Ballard Until 16[th] January 2023 Adrian Cocker # From 8[th] March 2023 Safeguarding Link Kathryn Benjamin Secretary Gill Colston URC Representative (i _nvited_ ) Rosie Weekes # - Parish office holders but not PCC members/trustees Page 8 of 21 **The Parochial Church Council of the Ecclesiastical Parish of Portishead** ## **Report of the Trustees Year ending 31 December 2023** Safeguarding Officer ( _invited_ ) Claire Short ## **Reference and Administrative details** ## **Registered Charity number** 1145151 ## **Principal address** The Church Office, St Barnabas Centre, West Hill, Portishead, Bristol, BS20 6LN ## **Independent Examiner** Andrew Jordan FCA ICAEW Haines Watts Chartered Accountants Bath House Bath Street Bristol BS1 6HL Approved by order of the board of trustees signed on its behalf by: Revd R Eastwood Dewing Team Rector 20 March 2024 Page 9 of 21 **The Parochial Church Council of the Ecclesiastical Parish of Portishead** ## **Report of the Trustees Year ending 31 December 2023** ## **Independent Examiner's Report** I report to the charity trustees on my examination of the accounts of The Parochial Church Council of the Ecclesiastical Parish of Portishead (the Charity) for the year ended 31 December 2023. ## **Responsibili�es and basis of report** As trustees of the Charity, you are responsible for the prepara�on of the accounts in accordance with the requirements of the Chari�es Act 2011 ('the Act'). I report in respect of my examina�on of those accounts, carried out under Sec�on 145 of the Act and, in carrying out that review, I have followed all applicable direc�ons given by the Charity Commission under Sec�on 145(5)(b) of the Act. ## **Independent examiner's statement** Since the Charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I confirm that I am qualified to undertake the examination because I am a registered member of ICAEW, one of the approved listed bodies. I have completed my review and confirm that no material ma�ers have come to my a�en�on, or give me cause to believe that in any material respect: 1. accoun�ng records of the Trust have not been kept in accordance with the requirements of Sec�on 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the form and content requirements, as set out in the Chari�es (Accounts and Reports) Regula�ons 2008, other than to ensure a true and fair view in respect to ma�ers that are not considered part of the scope this independent examina�on. I have no concerns, and have come across no other ma�ers in connec�on with the examina�on, to which a�en�on should be drawn in this report, in order to enable a proper understanding of the accounts to be reached. Andrew Jordan FCA Ins�tute of Chartered Accountants in England and Wales Haines Wa�s Chartered Accountants Bath House 6 - 8 Bath Street Bristol BS1 6HL Date: **21 March 2024** Page 10 of 21 **The Parochial Church Council of the Ecclesiastical Parish of Portishead** ## **Financial Statements** Year ending 31 December 2023 |**INCOME & ENDOWMENTS**
Voluntary income
Activities for generating funds
Income from investments
Church activities
Other income
**TOTAL INCOME**
**EXPENDITURE**
Church activities
Raising funds
Other expenditure
**TOTAL EXPENDITURE**
**NET INCOME**
Transfers between funds
**NET MOVEMENT IN FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**STATEMENT of**
**FINANCIAL ACTIVITIES**|**Note**|**Unrestricted**
**£**|**Restricted**
**£**|**Total 2023**
**£**|Total 2022
£| |---|---|---|---|---|---| ||2a
2b
2c
2d
2e
3a
3b
3c|240,508
15,141
6,388
23,406
24,029
309,472
(265,773)
(215)
(17,397)
(283,385)
**26,087**
2,018
**28,105**
171,189
**199,294**|2,417
13,980
-
3,100
-
19,497
(25,922)
(2,835)
-
(28,757)
**(9,260)**
(2,018)
**(11,278)**
23,921
**12,643**|242,925
29,121
6,388
26,506
24,029
328,969
(291,695)
(3,050)
(17,397)
(312,142)
**16,827**
-
**16,827**
195,110
**211,937**|216,563
43,964
1,065
34,656
-| ||||||296,248| ||||||(300,437)
(422)
-| ||||||(300,859)| ||||||(4,611)| ||||||(4,611)
199,721| ||||||195,110| Page 11 of 21 **The Parochial Church Council of the Ecclesiastical Parish of Portishead** ## **Financial Statements** Year ending 31 December 2023 |**FIXED ASSETS**
Audio Equipment
**CURRENT ASSETS**
Debtors and prepayments
Short term deposits
Bank balances
Un-deposited cash
**CURRENT LIABILITIES**
Creditors and accruals- amounts falling due
**TOTAL NET ASSETS**
**PARISH FUNDS**
**Unrestricted Funds**
General
Min Recommended Reserve
Building Reserves
Repairs
Children and Family Worker
Communications
Charitable Giving
**Restricted Funds**
Clock Appeal
St Peter's Bells
Gordano Chaplain
Lee Abbey Bursary
Phelps Sunday School Trust
Counselling Scheme
St Peters Legacy
Play With God
Church Fabric
**FUNDS TOTAL**
**BALANCE SHEET**
**at 31 December 2023**|**Note**|**2023**
**£**|2022
£| |---|---|---|---| ||4a
4b/c
4d
within one year
4e/f
5a
5b|3,833
3,833
10,833
180,090
41,611
2,723
**235,257**
(27,153)
**211,937**
118,422
32,500
18,300
4,597
14,683
2,404
8,388
**199,294**
-
(2,860)
3,505
500
388
3,474
3,107
1,819
2,710
**12,643**
**211,937**|-| ||||-| ||||16,160
139,211
60,784
-| ||||216,155
(21,045)| ||||195,110| ||||98,750
30,000
13,300
9,097
13,678
6,364
-| ||||171,189
-
9,651
2,740
500
388
3,473
4,004
1,819
1,346| ||||23,921| ||||195,110| The financial statements have been authorised for issue, having been approved by the Board of Trustees and signed on its behalf by: Revd R Eastwood Dewing Team Rector 20 March 2024 Page 12 of 21 **The Parochial Church Council of the Ecclesiastical Parish of Portishead** ## **Notes to Financial Statements** Year ending 31 December 2023 ## **1 ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of this charity have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice ( _under FRS 102 - effective 1 January 2019_ ), for public benefit entities in the United Kingdom, and the Charities Act 2011. And these have been prepared under the historical cost convention. These statements are prepared in sterling and rounded to the nearest £. There are no material uncertainties about the charity's ability to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. ## **Judgements and key sources of estimation uncertainty** No judgements ( _apart from those involving estimates_ ) or key estimates have been made in the process of applying the above accounting policies. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Income** Fees and other forms of income are recognised in the Statement of Financial Activities once the charity is entitled to these monies, or it is probable that income will be received and that the expected amounts can be measured reliably. * Collections and planned giving under gift aid are recognised when received. * Income tax recoverable on gift aid donations is recognised when the related income is recognised. * Grants and legacies are accounted for as soon as the PCC is notified of its legal entitlement and the amount due. * Fees from the letting of church premises are recognised when rental sums are due. * Other income is recognised on a receipts basis. * The value of services provided by volunteers aren't included. ## **Grants** These are recognised in the year in which they are receivable, where all conditions associated with a grant have been met. Where conditions are not yet satisfied, the grant is treated as a liability until these have been ( _substantially_ ) met. ## **Expenditure** Spending is recognised as soon as there is a legal or constructive commitment to that expenditure, or it is probable that there is an obligation to make settlement and the amount due can be measured reliably. Expenditure is accounted for on an accruals basis and related types of cost are categorised under common headings. Where these cannot be consolidated they have been allocated to activity headings on a basis consistent with the use of resources. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. ## **Fund accounting** Unrestricted Funds are monies available for spending on the general purposes of the PCC, including amounts designated for fixed assets for its own use, or for spending on future projects and which are therefore not included in its ‘free reserves’ as disclosed in the trustees’ report. Restricted Funds can only be spent for the purposes for which these monies have been ring-fenced Details of the restricted funds held by the PCC, are shown in the notes to the accounts. ## **Donated goods, services and facilities** These are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the item is probable and that economic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift, which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. Volunteer time is not recognised in accordance with the SORP. **Fixed assets** Consecrated and beneficed property of any kind is excluded from the statutory definition of ‘charity’ by Section S.10(2) (a) and (c) of the Charities Act 2011 such assets are not capitalised in the financial statement. Moveable Church Furnishings are capitalised at cost and depreciated over their useful economic life other than where insufficient cost information is available. All items are included in the Church's inventory. Tangible Fixed Assets ( _items costing at least £1,000_ ) are capitalised if they can be used for more than one year. They are valued at cost or else, for gifts-in-kind, at a reasonable estimate of their open market value on receipt. Depreciation will be applied on a straight-line basis, at 20% per annum for capitalised assets with an operational life of 5 years or more. Any with shorter duration operational lives will be depreciated at rates commensurate with their utility. **Debtors** Debtors are measured on initial recognition at settlement amount after any amounts advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. ## **Creditors** The charity has creditors which are measured at settlement amounts. ## **Financial instruments** The charity applies the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102. Financial instruments are recognised when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## **Short term liquid investments and cash** Cash at bank is held to meet short-term commitments, as they fall due, rather than for investment purposes and includes all cash equivalents held in the form of shortterm highly liquid investments. Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. Page 13 of 21 **The Parochial Church Council of the Ecclesiastical Parish of Portishead** ## **Notes to Financial Statements** Year ending 31 December 2023 |**Note**|**Unrestricted**
**£**|**Restricted**
**£**|**Total 2023**
**£**|Total 2022
£| |---|---|---|---|---| ||178,165
37,871
14,472
10,000
240,508
13,513
1,628
15,141
6,388
6,388
15,919
3,015
2,278
1,610
584
-
-
23,406
24,029
**309,472**|245
1,647
525
-
2,417
1,066
12,914
13,980
-
-
-
-
-
-
3,100
-
-
3,100
-
**19,497**|178,410
39,518
14,997
10,000
242,925
14,579
14,542
29,121
6,388
6,388
15,919
3,015
2,278
1,610
3,684
-
-
26,506
24,029
**328,969**|169,358
38,267
8,438
500| |||||216,563| |||||42,727
1,237| |||||43,964| |||||1,065| |||||1,065| |||||17,105
3,606
3,276
1,525
6,134
1,548
1,462| |||||34,656| |||||-| |||||296,248| Page 14 of 21 **The Parochial Church Council of the Ecclesiastical Parish of Portishead** ## **Notes to Financial Statements** Year ending 31 December 2023 |**3**|**CHURCH ACTIVITIES**
Organisation and Employment
Diocesan quota
Employee costs
7a
Clergy expenses
Delivery of Core Activities
Provision of music at parish services
Wedding and funeral service overheads
Other parish services expenses
Magazine production
Outreach and evangelism
Administration & Support
Parish office
Other parish expenses
Property and Fixtures
Maintenance & upkeep
Major repairs
Improvements
Running Costs
Utilities (_Energy / Water / Telecoms_)
Professional and financial services
7e
Depreciation
Charitable Giving
To partnership organisations
Other appeals and donations
**Total church activities**
**RAISING FUNDS**
Event costs
**OTHER EXPENDITURE**
Adjustment to prior year creditors
**TOTAL EXPENDITURE**
**Note**
**EXPENDITURE**|**Note**|**Unrestricted**
**£**|**Restricted**
**£**|**Total 2023**
**£**|Total 2022
£| |---|---|---|---|---|---|---| |3a
3b
3c|||170,991
23,157
8,363
202,511
2,093
3,000
2,193
3,722
675
11,683
4,346
210
4,556
5,141
11,473
-
16,614
12,237
4,882
65
17,184
4,500
8,725
13,225
**265,773**
215
17,397
**283,385**|-
10,655
-
10,655
896
-
-
-
-
896
-
-
-
-
14,371
-
14,371
-
-
-
-
-
-
-
**25,922**
2,835
-
**28,757**|170,991
33,812
8,363
213,166
2,989
3,000
2,193
3,722
675
12,579
4,346
210
4,556
5,141
25,844
-
30,985
12,237
4,882
65
17,184
4,500
8,725
13,225
**291,695**
3,050
17,397
**312,142**|168,142
36,545
8,975| |||||||213,662| |||||||6,682
3,274
1,866
4,179
169| |||||||16,170| |||||||3,960
3,745| |||||||7,705| |||||||4,948
22,385
-| |||||||27,333| |||||||5,735
4,718
-| |||||||10,453| |||||||20,010
5,104| |||||||25,114| |||||||**300,437**
422
-| |||||||**300,859**| Page 15 of 21 **The Parochial Church Council of the Ecclesiastical Parish of Portishead** ## **Notes to Financial Statements** Year ending 31 December 2023 ||**2023**
**£**|2022
£| |---|---|---| ||**Total**
-
3,898
-
3,898
-
65
-
65
-
**3,833**
6,043
-
4,790
**10,833**
38,511
1
3,099
**41,611**
171
199
-
26,783
**27,153**|15,295
865
-| |||16,160| |||56,705
4,099
-| |||60,804| |||4,886
-
2,796
13,363| |||21,045| Page 16 of 21 **The Parochial Church Council of the Ecclesiastical Parish of Portishead** ## **Notes to Financial Statements** Year ending 31 December 2023 |**5**|**Unrestricted Funds**
General
Communications
Repairs
Children and Family Worker
Building Reserves
Min Recommended Reserve
Charitable Giving
**Restricted Funds**
Gordano Chaplain
Lee Abbey Bursary
Phelps Sunday School Trust
Counselling Scheme
St Peter's Legacy
Play With God
Church Fabric
St Peter's Bells
**Total Funds - 2023**
Unrestricted Funds
General
Communications
Repairs
Storyboat 700
Children and Family Worker
Building Reserves
Minimum Recommended Reserve
Restricted Funds
Gordano Chaplain
St Nicholas' Fund
Lee Abbey Bursary
Phelps Sunday School Trust
Counselling Scheme
St Peter's Legacy
Play With God
Clock Appeal
Church Fabric
St Peter's Bells
Total Funds - 2022
**FUNDS MOVEMENTS**
The General Fund includes adjustments to income||**01 Jan 23**
**£**|**Incoming**
**£**|**Transfers**
**£**|**Outgoing**
**£**|**31 Dec 23**
**£**| |---|---|---|---|---|---|---|---| |5a
5b||98,750
308,467
6,364
-
9,097
-
13,678
1,005
13,300
-
30,000
-
-
-
171,189
309,472
2,740
16,373
500
-
388
-
3,474
-
4,003
-
1,819
-
1,346
1,264
9,651
1,860
23,921
19,497
**195,110**
**328,969**
01 Jan 22
Incoming
£
£
of £24,029, and expenses of £17,397, resulting fr|||(15,971)
(272,824)
(3,899)
(61)
6,000
(10,500)
-
-
5,000
-
2,500
-
8,388
-
2,018
(283,385)
(2,118)
(13,490)
-
-
-
-
-
-
-
(896)
-
-
100
-
-
(14,371)
(2,018)
(28,757)
**-**
**(312,142)**
Transfers
Outgoing
£
£
om a review of opening debtors and cred||**118,422**
**2,404**
**4,597**
**14,683**
**18,300**
**32,500**
**8,388**| ||||||||**199,294**| ||||||||**3,505**
**500**
**388**
**3,474**
**3,107**
**1,819**
**2,710**
**(2,860)**| ||||||||**12,643**| ||||||||**211,937**| ||||||||31 Dec 22
£
itors.| ||||105,675
6,364
22,397
3,097
10,115
-
30,000
177,648
444
3,269
500
388
3,473
4,004
1,819
6,460
1,716
-
22,073
199,721|256,633
-
-
4,591
3,990
-
-
265,214
21,383
-
-
-
-
-
-
-
-
9,651
31,034
296,248|1,951
-
(13,300)
(1,952)
(175)
13,300
-
(176)
176
-
-
-
-
-
-
-
-
-
176
-|(265,509)
-
-
(5,736)
(252)
-
-
(271,497)
(19,262)
(3,269)
-
-
-
-
-
(6,460)
(370)
-
(29,361)
(300,858)|98,750
6,364
9,097
-
13,678
13,300
30,000| ||||||||171,189| ||||||||2,741
-
500
388
3,473
4,004
1,819
-
1,346
9,651| ||||||||23,922| ||||||||195,110| Page 17 of 21 **The Parochial Church Council of the Ecclesiastical Parish of Portishead** ## **Notes to Financial Statements** Year ending 31 December 2023 **DESCRIPTIONS & 6 APPLICATIONS OF FUNDS** ## **UNRESTRICTED FUNDS** |**General**|The PCC's core vehicle for managing operational receipts and expenses.| |---|---| |**Communications**|To cover the costs of upgrading the audio visual systems in church buildings.| |**Repairs**|For general repairs to St. Peter's and St. Nicholas churches.| |**Children and Family Worker**|Fundraising for the future costs of employing a Children & Youth worker.| |**Building Reserves**|For maintenance and repairs identified through Quinquennial inspections.| |**Operational Reserve**|The notional minimum savings required to meet expenditure policy.| |**Charitable Giving**|A vehicle for managing awards to recipient charitable organisations.| |**RESTRICTED FUNDS**|| |**Gordano Chaplain**|Ministry at Gordano School, funded with Portishead Churches Together.| |**Lee Abbey Bursary**|Financial assistance for individuals attending the annual parish weekend.| |**Phelps Sunday School Trust**|A long standing trust to underwrite the costs of Sunday school activities.| |**Counselling Scheme**|To support Relate Counsellors at St Barnabas. Currently paused.| |**St Peter's Legacy**|Bequest from Caroline Poole for provision of music at St. Peter's church.| |**Play With God**|Expenditure connected with church organised activities for young children.| |**Clock Appeal**|Monies raised and expended to restore the clock at St Peter's Church.| |**Church Fabric**|For maintenance of buildings.| |**St Peter's Bells**|To manage donations for renovation and maintenance of church bells.| **Inter Fund Transfers** - Amounts totalling £22k have been transferred from General fund, to various designated funds, to reflect trustees' decisions on setting sums aside for specific initiatives. **General Fund** - Adjustments of £24k and (£17.4k) have been applied to adjust the year-start balance, stemming from inconsistencies in debtor and creditor positions introduced in previous accounting periods. These adjustments aren't material to the underlying finances of the charity given the effect is beneficial, and not related to income or expenditure. **Gordano Chaplain -** £2k transfer to General Fund represents fund raising expenses incurred in 2022 but not applied to this restricted fund. **St Peter's Bells** - Technical deficit, arising from timing, a consequence of recording impact of commitment to pay, running ahead of claim for reimbursement of vat via Listed Places of Worship Grant Scheme. **Communications Fund** - Transfer of £4k to General Fund represents purchase of AV equipment, which is to be maintained as a general asset. Page 18 of 21 **The Parochial Church Council of the Ecclesiastical Parish of Portishead** ## **Notes to Financial Statements** Year ending 31 December 2023 ||**2023**
**£**|2022
£| |---|---|---| ||12,590
10,509
10,713
**33,812**
3
1,535
1,831
**3,366**|13,495
8,607
18,175| |||(5)40,277| |||3
2,436
754| |||(5)3,190| Notes: _1 - Totals shown comprise pay or fees, pension, national Insurance and tax as applicable._ _2 - No salaried role holders received emoluments in excess of £60,000._ _3 - Pension contributions are made to the Church Workers Pension Fund, administered through the CoE Pensions Board._ _4 - Youth worker (Gordano Chaplain initiative) contract period completed at the end of August 2023._ _5 - 2022 figures restated to provide like-for-like comparison with 2023_ ## 7b **TRUSTEES EMOLUMENTS** No trustees received fees from parish funds, or claimed expenses for services performed, in respect of their PCC duties. ## 7c **RELATED PARTIES** There were no related party transactions during the year ( _2022 - £nil_ ). Sums totalling £2,000 ( _2022 - £7,000_ ) were paid to charities where there are trustees in common with the PCC. |7d
**AMOUNTS DONATED BY TRUSTEES**
Planned giving
Gift aid contribution
7e
**PROFESSIONAL & FINANCIAL SERVICES**
Independent examination of the charity's accounts|38,746
7,825
**46,571**
**1,140**|21,246
4,062| |---|---|---| |||25,308| |||1,200| Page 19 of 21 **The Parochial Church Council of the Ecclesiastical Parish of Portishead** ## **Notes to Financial Statements** Year ending 31 December 2023 |**2023**
**£**|2022
£| |---|---| ||3,500
3,500
1,000
2,000| ||**10,000**
4,000
4,087
-
-
-
460
-
-
-
1,500
-
-
2,057
-
-
1,000
500
500
500
500
-| ||25,104| ||10| ||25,114| Page 20 of 21 **The Parochial Church Council of the Ecclesiastical Parish of Portishead** ## **Notes to Financial Statement** Year ending 31 December 2023 ||**Unrestricted**
**£**|**Restricted**
**£**|**Total 2022**
**£**| |---|---|---|---| ||||| ||215,793|770|**216,563**| ||13,699|30,265|**43,964**| ||1,065|-|**1,065**| ||34,656
265,213
271,075
422
271,497
**(6,284)**
(175)
**(6,459)**
177,648
**171,189**|-
31,035
29,362
-
29,362
**1,673**
175
**1,848**
22,073
**23,921**|**34,656**| ||||296,248| ||||**300,437**
**422**| ||||300,859| ||||| ||||**(4,611)**
**-**| ||||**(4,611)**
**199,721**| ||||**195,110**| Page 21 of 21