TREASURER’S REPORT FOR THE YEAR ENDING 2023
Introduction
Praise be to God for the generosity of God and of our congregations!
For 2023 the PCC approved a budget with a deficit of circa £4,250, based on fairly static income and expenditure figures against 2022 and the premise of paying out full Parish Share.
In reality, the budget for 2023 was quickly out dated as we secured a new, long-standing user of the Hall at St James’ church, which lead to an increase income and also an increase in costs in order to make some improvements to the hall so making it fit for use.
| Actuals | 2023 | 2022 | 2021 | 2020 | 2019* |
|---|---|---|---|---|---|
| Total income | £101,718 | £80,508 | £73,838 | £83,013 | £86,260 |
| Total expenditure | £92,999 | £80,668 | £81,606 | £76,104 | £91,340 |
| Surplus / loss | £8,720 | (£160) | (£7,768) | £6,908 | (£5,080) |
*first year of Receipts and Payments accounts
The new client alongside with the continued generosity of the congregation in both regular giving and a successful Gift Day has led to a level of income not seen for over five years and although expenditure was much increased as well, there was a healthy surplus of over £8,700.
Finally, it is worth noting that we paid our full Parish Share in 2023 and we maintained our Away Giving at 10% of income including all additional income. Both these points have been discussed at the PCC when setting the budget and will continue to be our position, when possible.
2024 budget
The PCC has approved a budget for 2024, with budgeted income of £95,514 including a gift day in the Autumn and a budgeted expenditure of £98,939 which will lead to a deficit of £3,425.
It is our intention to maintain our Parish Share payments to cover our full contribution, however the PCC has agreed to keep this under “watch” and review the decision should the finances look poor towards the end of the year, with the stated intention to adjust our payments so that the overall position is breakeven / neutral.
These figures do not include income and expenses managed separately by the Friends of All Saints.
Thanks
As treasurer and on behalf of the PCC I would like to thank everybody who made donations to the Church. No matter how big or how small, regular or simply one-off, each donation helps support the functioning of our Church and they are all very gratefully received. Thanks to you all.
Acknowledgements
As always, I would like to give a special thanks to Jo Saward without whom I wouldn’t be able to complete my function as treasurer and the PCC as a whole who are very supportive of the finance function.
Prepared by Peter Garner – Treasurer
15[th] April 2024
Financial Statement
The following is a summary of income and expenditure for the year ended 31 December 2023
Parochial Church Council of the Ecclesiastical Parish of High Ongar
Financial Statements for the Year Ended 31 December 2023
Receipts and Payments Accounts
| No te RECEIPTS Voluntary receipts: Planned giving Collections at services All other giving/donations Gift Aid recovered Activities for generating funds Investment income Church Activities 7 Total receipts PAYMENTS Church Activities: Diocesan parish contribution Clergy and staffing costs Church running expenses 8 Hall running costs Mission giving and donations Costs of generating funds: |
Unrestri cted Designat ed Restricte d Funds Funds Funds £ £ £ 45,549 - - 2,905 - 419 12,551 - 3,943 12,648 - - |
TOTAL 2023 £ 45,549 3,325 16,494 12,648 78,016 4,355 1,119 18,229 101,718 53,643 610 17,216 11,191 9,773 92,433 565 |
TOTAL 2022 £ 47,106 2,884 10,705 11,107 |
|---|---|---|---|
| 73,653 - 4,363 895 263 3,196 303 - 816 18,229 - - |
71,801 2,166 752 5,788 |
||
| 93,080 263 8,375 |
80,508 | ||
| 53,643 - - 610 - - 14,197 - 3,019 11,191 - - 7,655 - 2,118 87,296 - 5,137 323 57 185 |
53,123 549 16,052 2,745 7,165 |
||
| 79,635 1,033 |
| Total payments Surplus/(def icit) Transfers between funds Cash at bank and in hand at 1 January 2023 6 Cash at bank and in hand at 31 December 2023 |
87,620 57 5,323 5,461 207 3,052 - - - 5,461 207 3,052 19,230 1,921 25,613 24,690 2,128 28,665 |
92,999 8,720 - 8,720 46,763 55,483 |
80,668 |
|---|---|---|---|
| (160) - |
|||
| (160) 46,923 |
|||
| 46,763 |
There were no receipts or payments relating to endowment funds during the year ended 31 December 2023
Statement of Assets and Liabilities
| No te Cash funds Bank current account Cash in hand Deposit funds Other monetary assets Deposit held Gift Aid Recoverable Investment fund shares at market value: 3 Norton Mandeville Tithe Chancel Fund Sunday School Trust Endowmnet Fund |
Unrestri cted Funds £ 6,638 289 17,764 24,691 576 6,253 - - |
Designa ted Funds £ 2,126 2,126 - - - |
Restrict ed Funds £ 28,666 28,666 - - - |
Endow ment Funds £ - - - 3,838 13,267 |
TOTAL 2023 £ 6,638 289 48,557 55,483 576 6,253 3,838 13,267 |
TOTAL 2022 £ 7,831 - 38,932 |
|---|---|---|---|---|---|---|
| 46,763 | ||||||
| - 6,889 |
||||||
| 3,409 13,453 |
| Liabilities 2023 invoices paid in 2024 |
- 875 |
- - |
- | 17,105 - |
17,105 875 |
16,862 |
|---|---|---|---|---|---|---|
| 1,217 |
Notes
1 The financial statements of the PCC have been prepared in accordance with the Church Accounting Regulations 2006 using the Receipts and Payments basis
2 The PCC recognises the asset of the land and buildings known as St James’ Hall, St James’ Avenue, but does not value this asset in the statement of assets and liabilities.
3 The endowment funds have to be retained as capital funds, and are invested in funds managed by the Chelmsford Diocesan Board of Finance.
4 Reserves Policy It is PCC policy to try to maintain a balance on unrestricted funds that equates to at least three months' unrestricted payments.
This is equivalent to £20,531. It is held to smooth out fluctuations in cash flow and to meet emergencies. The cash balance of £24,691 held on unrestricted (not including designated) funds at the year end meets this target.
5 Outward giving policy
The PCC models good practice in Christian giving through its outward giving policy. Amounts given as a result of specific fund-raising events and special collections are augmented by amounts allocated from general funds so that a total amount equal to 10% of general fund income is donated to local, national and international charities.
6 The movements in designated and restricted funds during the year were:
| Designated Funds Benevolent Local Mission Bible Notes Equipment Restricted Funds All Saints Belfry |
Bal b/fwd - 791 1,038 35 57 1,921 21,927 697 |
Receipts - - 263 - - 263 3,104 - |
Payments - - - - 57 57 1,625 - |
Transfer - |
Bal c/fwd - 791 1,301 35 0 |
|---|---|---|---|---|---|
| 2,128 | |||||
| 23,405 697 |
| Youth Work Give away Community Christmas Garden of Remembrance |
2,344 0 520 125 25,613 |
687 1,915 315 2,150 8,172 |
429 1,915 160 990 5,120 |
- | 2,601 0 675 1,285 |
|---|---|---|---|---|---|
| 28,664 |
The restricted All Saints fund is managed by the Friends of All Saints Norton Mandeville. The restricted Give away fund is used to record monies raised during the year for specific causes and charities, as these monies are restricted to the purpose for which they were raised.
7 During the year to 31 December 2023, church activities were made up of £6,042 (2022: £1,627) of fees received for weddings and funerals, and £12,186 (2022: £4,065) from the hiring of St James' Hall.
| 8 Church running expenses are made up of: Music and Worship expenses Church building running expenses Church office expenses including technology costs Printing, postage and stationery Service expenses Upkeep of churchyard and grounds Maintenance expenses |
2023 2022 599 682 6,975 5,643 947 308 80 1,462 946 325 1,420 4,626 3,229 1,487 |
|---|---|
| 14,197 14,533 |
Financial Statement
The following is a summary of income and expenditure for the year ended 31 December 2023
Parochial Church Council of the Ecclesiastical Parish of High Ongar
Financial Statements for the Year Ended 31 December 2023
Receipts and Payments Accounts
| No te RECEIPTS Voluntary receipts: Planned giving Collections at services All other giving/donations Gift Aid recovered Activities for generating funds Investment income Church Activities 7 Total receipts PAYMENTS Church Activities: Diocesan parish contribution Clergy and staffing costs Church running expenses 8 Hall running costs Mission giving and donations Costs of generating funds: |
Unrestri cted Designat ed Restricte d Funds Funds Funds £ £ £ 45,549 - - 2,905 - 419 12,551 - 3,943 12,648 - - |
TOTAL 2023 £ 45,549 3,325 16,494 12,648 78,016 4,355 1,119 18,229 101,718 53,643 610 17,216 11,191 9,773 92,433 565 |
TOTAL 2022 £ 47,106 2,884 10,705 11,107 |
|---|---|---|---|
| 73,653 - 4,363 895 263 3,196 303 - 816 18,229 - - |
71,801 2,166 752 5,788 |
||
| 93,080 263 8,375 |
80,508 | ||
| 53,643 - - 610 - - 14,197 - 3,019 11,191 - - 7,655 - 2,118 87,296 - 5,137 323 57 185 |
53,123 549 16,052 2,745 7,165 |
||
| 79,635 1,033 |
| Total payments Surplus/(def icit) Transfers between funds Cash at bank and in hand at 1 January 2023 6 Cash at bank and in hand at 31 December 2023 |
87,620 57 5,323 5,461 207 3,052 - - - 5,461 207 3,052 19,230 1,921 25,613 24,690 2,128 28,665 |
92,999 8,720 - 8,720 46,763 55,483 |
80,668 |
|---|---|---|---|
| (160) - |
|||
| (160) 46,923 |
|||
| 46,763 |
There were no receipts or payments relating to endowment funds during the year ended 31 December 2023
Statement of Assets and Liabilities
| No te Cash funds Bank current account Cash in hand Deposit funds Other monetary assets Deposit held Gift Aid Recoverable Investment fund shares at market value: 3 Norton Mandeville Tithe Chancel Fund Sunday School Trust Endowmnet Fund |
Unrestri cted Funds £ 6,638 289 17,764 24,691 576 6,253 - - |
Designa ted Funds £ 2,126 2,126 - - - |
Restrict ed Funds £ 28,666 28,666 - - - |
Endow ment Funds £ - - - 3,838 13,267 |
TOTAL 2023 £ 6,638 289 48,557 55,483 576 6,253 3,838 13,267 |
TOTAL 2022 £ 7,831 - 38,932 |
|---|---|---|---|---|---|---|
| 46,763 | ||||||
| - 6,889 |
||||||
| 3,409 13,453 |
| Liabilities 2023 invoices paid in 2024 |
- 875 |
- - |
- | 17,105 - |
17,105 875 |
16,862 |
|---|---|---|---|---|---|---|
| 1,217 |
Notes
1 The financial statements of the PCC have been prepared in accordance with the Church Accounting Regulations 2006 using the Receipts and Payments basis
2 The PCC recognises the asset of the land and buildings known as St James’ Hall, St James’ Avenue, but does not value this asset in the statement of assets and liabilities.
3 The endowment funds have to be retained as capital funds, and are invested in funds managed by the Chelmsford Diocesan Board of Finance.
4 Reserves Policy It is PCC policy to try to maintain a balance on unrestricted funds that equates to at least three months' unrestricted payments.
This is equivalent to £20,531. It is held to smooth out fluctuations in cash flow and to meet emergencies. The cash balance of £24,691 held on unrestricted (not including designated) funds at the year end meets this target.
5 Outward giving policy
The PCC models good practice in Christian giving through its outward giving policy. Amounts given as a result of specific fund-raising events and special collections are augmented by amounts allocated from general funds so that a total amount equal to 10% of general fund income is donated to local, national and international charities.
6 The movements in designated and restricted funds during the year were:
| Designated Funds Benevolent Local Mission Bible Notes Equipment Restricted Funds All Saints Belfry |
Bal b/fwd - 791 1,038 35 57 1,921 21,927 697 |
Receipts - - 263 - - 263 3,104 - |
Payments - - - - 57 57 1,625 - |
Transfer - |
Bal c/fwd - 791 1,301 35 0 |
|---|---|---|---|---|---|
| 2,128 | |||||
| 23,405 697 |
| Youth Work Give away Community Christmas Garden of Remembrance |
2,344 0 520 125 25,613 |
687 1,915 315 2,150 8,172 |
429 1,915 160 990 5,120 |
- | 2,601 0 675 1,285 |
|---|---|---|---|---|---|
| 28,664 |
The restricted All Saints fund is managed by the Friends of All Saints Norton Mandeville. The restricted Give away fund is used to record monies raised during the year for specific causes and charities, as these monies are restricted to the purpose for which they were raised.
7 During the year to 31 December 2023, church activities were made up of £6,042 (2022: £1,627) of fees received for weddings and funerals, and £12,186 (2022: £4,065) from the hiring of St James' Hall.
| 8 Church running expenses are made up of: Music and Worship expenses Church building running expenses Church office expenses including technology costs Printing, postage and stationery Service expenses Upkeep of churchyard and grounds Maintenance expenses |
2023 2022 599 682 6,975 5,643 947 308 80 1,462 946 325 1,420 4,626 3,229 1,487 |
|---|---|
| 14,197 14,533 |
PARISH OF HIGH ONGAR INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES l port on the accounts of Parish of High Ongar for the year ended 31 December 2023, which are set out on pages Rospactivo rnsponsibilities of trust•8s and exarnin•r The charity's trustees are responsibte for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year un¢Jer section 144 of the Charities Act 201 Ilthe Chanties Act) and thal an independent examination 15 required. 11 is my responsibility to= examine the accounts under section 145 of the Charities Act,. lo follow the prOdureS laid down in the General Direcbon5 given by the Ch8rity CommisonerS lunder sethon 14515llbl of the Charities Act). and lo stale whether particular mattels have Come to my attention. Basis of independent examinerfs report My examination was camed out in accordance wth the general Directions given by the Charity Commissioners. An examinatson indudes a of the accounting records kept by the charity and 8 comparison of the accounts presented w5th those cordS. It also includes consideration ol any unusual items or disclosures in the accounts and seeking explanations from you as Irustees conceming such matters. The procedures kjndertaken do not Provide all the evidence that would be required in an audit and, consequently. no opinion is given as to whether the accour¢ts present a 'twe and fair. wew, and the regret is limtted to those matters set out in the statement below. Independent examlnerfs statement In connection th my examination, no matter has come to my attention-. I I which gives me reasonable cause to believe that in any material respect the reqU1MentS lo keep accounting records in accordance th section 130 of the Charities Act,. to prepa accounts %thich accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met.. or 21 to which, in my opinion. attention Shou be drawn lo enab a proper understanding of the accounts to be reached. AÈT2IYL4C13C4È1 Andrew Bowtle MAAT 34 Rodney Roa¢J Ongar Essex CM5 9HN 15m April 2024