## 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 prO￿dureS laid down in the General Direcbon5 given by the Ch8rity Commis￿onerS 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 reqU1￿MentS 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