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2023-12-31-accounts

TRUSTEES' ANNUAL REPORT. 4
STRUCTURE, GOVERNANCE
AND MANAGEMENT
4
OBJECTIVES AND ACTIVlTIES .. 5
Multi-use premises . 6
Churches Together. . 6
Finance and Properties . 7
Staff 7
REVIEW OF THE YEAR 2023 - FINANCE 8
Overview 8
Tower Shop 9
Reserves Policy
INDEPENDENTE~R'S REPORT TO THE TRUSTEES OF STMICHAEL AT THE NORTH
9
GATE CHURCH PCC .10
STATEMENT OFFINANCIAL ACTIVITIES.. .11
BALANCE SHEET. .12
NOTES TOTHE FINANCIAL STATEMENTS.. .13
1 GENERAL INFORMATION ..
2S~YOF SIGNIFICANT ACCOUNTING POLICIES
.13
.13
3
NATURE OF THE FUNDS..
.16
4
UNRESTRICTED FUNDS (excluding Tower Shop).
.17
5&6UNRESTRICTED FUNDS - Tower Shop &Designated Funds. ,18
7&8RESTRICTED FUNDS. .19
9
STAFF COSTS.
.20
10TANGIBLE FIXEDASSETS. . 21
13MOVEMENT IN FUNDS . . .22
14ANALYSIS OFNET ASSETSBETWEEN FUNDS . . 23
15TOWER SHOP STOCK&16AGENCY COLLECTIONS. 24
17DEBTORS&PREPAYMENT 25
18CREDITORS &ACCRUALS .. 26

2023 2022
Notes f f f f f f
Unrestricted Restricted Total Unrestricted Restricted Total
Funds Funds Funds Funds
INCOME
Donations
and grants
50,295 175,624 225,919 63,124 290,408 353,532
Investment
income (rents Iinterest)
27,106 5,940 33,046 28,468 28,466
Income from oharitable
activities
19,589 19,569 22,229 22,229
Income from other trading activities 49,546 49,546 41,673 41,673
Other incoming resources 11,486 3,194 14,660 24,629 563 25,392
Total incoming
resources
4,5,6,7,8 158,024 184,758 342,782 180,323 290,971 471,294
EXPENDITURE
Expenditure
on charitable
activities:
Directly related to Council's objects 48,136 62,212 110,350 61,800 69,908 131,708
Management
and administration
27,645 104,174 131,819 23,111 78,135 101,246
Costs ofraising funds:
Expenditure
related to trading
49,678 49,876 57,110 67,«0
Total expenditure 4,5,6,7,8 125,861 166,386 292,047 142,021 1481043 2901064
NET INCOMEI (EXPENDITURE) 32,383 18372 50735 38302 142928 181230
Transfer between
funds
NET MOVEMENT
IN FUNDS
13 32,363 18,372 50,735 38,302 142,928 181,230
Total funds brought
forward
13 160,588 144,755 305,343 122,286 1,827 124,113
Total funds carried forward 13 192,951 163127 3560?8 160588 144755 305343

Notes 2023 2022
FIXEDASSETS
Tangible assets 10 2,922 4,869
CURRENT ASSETS
Stock 15 5,224 4,864
Debtors 16 11,857 5,682
Current account 17,478 50,095
Cash in hand and Petty Cash card 504 267
Tower account 18,847 172,211
Charities deposit account No.1 120,196 80,196
Charities deposit account No.2 (Tower Shop) 195,829 18,465
389,935 331,780
CURRENT LIABILITIES
Creditors: Amounts falling due within one year 17 16,779 31,306
NET CURRENT ASSETS
NET ASSETS
353,156
338818
300,474
3M848
THE FUNDS OFTHE CHARITY
Restricted funds 13 163,127 144,755
Unrestricted
funds
13 192,951 160,588
TOTAL CHARITY FUNDS 13 3561078 305,343

4 U NRESTRICTED FUNDS (excluding Tow er Shop)
2023 2022
Income
Bank donations
from iadividuats
19311 21,180
CAF &PayPal donations 1,666 1,804
Contact)est donation
point
1,981 1,853
Gift Aid —envelopes 2,171 2/02
Giving through
church boxes &loose plate colleen
one 7,936 7,054
Non-G(R Aid one-ofl'donations 870
One-on'GiR Aid donations 5300 1,845
Tax recoverable
on Gift Aid
donations 11,160 8372
Giving and Gift Aid 50395 46,874
Lettings fundrsising
—church &P.room
2361 10,975
Lettings objectives —church &P.room 17328 11330
Fundraising
activities
19,589 22305
Rent —Ship St.1'orecourt (AMI') 12,187 18,868
Rent Basement let (Trinity Church &Fairtrade) 10,600 9,600
Deposit Fund interest 4319 714
Investment
Income- rental
&tuterest 27,106 29,182
Wedding (inc registers) &funeral fees 99 190
Administration
& printer sernces
1330 24
Grants other than from StMichael Charities 3300 6380
Other income 1,955
Other funds generated 6,684 6,594
Total Inoome 103,674 104,855
Administrative
Costs
I
Ministry parish share 42,693 41,280
Minor repairs 367 342
Cleming materials 939 925
Clergy expenses 60 54
Upkeep ofservices &churchyard 1,090 1,163
Home mission &chantable donations 240 240
Directly related to objects ofthe council 45,389 44,004
Administration
&.Stationery
983 1,244
Bank oharges main PCC account &contactless fees 372 267
Church &Parish Room recycling 222 132
Church office photocopier 2,391 2,606
IT&soihvare support 6,739 6,107
Telecoms &broadband 1,630 939
Misc. small expenses &refreshments 1,650 2,205
Professional
fees
1,530
Governance,
accountancy
&
examination 960 1,030
Caretaker flat expenses 1,615 2,609
Website redevelopment 2,400
Depreciation
charge
1,947 2,684
Other property
upkeep
6,742
Loss on disposal ofFixed Assets 888
Administration
&running
costs 27,645 23,111
Total Administrative
Costs
73,034 67,115
Net Incorue I(Expenditure) 30,640 37,740
Page I 17

5UNRESTRICTED FUNDS —TOWER SHOP 2023 2022
Trading Other Total Total
Tower Shop lnconte
Tower admissions —all tickets 33,895 33,895 27,727
Tower Shop general sales 15,503 15,503 11,962
Total Turnover 49,3911 49,398 39,689
Tower LPOW grant 1,984
Tow(:fdonaticrls 150 150
Total Tower Shop Income 49,398 150 49,548 41,673
Cost ofSales
Tower Shop stafS part-timers 40,550 40,550 33,301
Tower Shop purchases 8,212 8,212 7,163
Tower Shop running
costs
97 326
Tower Shop merchant
services
791 791 869
Tower Shop bank charges 228 225
Totnl costofsales 49,878 49,878 41,884
Tower Shop maintenance 15,226
Totnl Tower costs 49,878 49,878 57,110
Net Income / (Expenditure) (480) 150 (330) (15,437)
6DESIGNATED FUNDS 2023 2022
Oxford Centre for
Spiritual
Growth
Totals Totals
Income
OCSG funds 16,221
One-oty Gift Aid dooations 200 200 2,000
Tax recoverable
on Gift Ard
440 440 500
OCSG event income 3,442 3,442 1,324
Deposit Fund interest 720 720
Grant Americau donor 13,750
Total Income 4,802 4,802 33,795
Administrative
costs
6 6
Administration
dr Stationery
63
Charitable
donations
500
Cost ofevents 768 768 759
Websrte redevelopment 1,981 1,981 2,724
Holywell
Cemetery
Wall repairs
13,750
Total Administrative
costs
2,749 2,749 17,796
Net Income / (Expenditure) 2,053 2,053 15,999
Unrestricted
Funds —Income / Expenditure
2023 2023 2022 2022 2023 2022
income Expenditure Income Expenditure Net Net
Unrestricted
Funds (excl Tower Shop) —objectives
103,674 45,389 104,855 44,004 58,285 60,851
Designated Rnds - objectives 4,802 2,749 33,795 17,796 2,053 15,999
Total Unrestricted
Funds —objectives
48,138 61,800
Unrestricted
Funds (excl Shop) - administration
27,645 23,111 (27,645) (23,111)
Unrestricted
Funds —Tower Shop
49,548 49,878 41,673 57,110 (330) (15,437)
Total Unrestricted
Income
/ Expenditure
158,024 125,661 180,323 142,021 32,363 38,302

7RESTRICTED FUNDS-STMICHAEL 7RESTRICTED FUNDS-STMICHAEL 7RESTRICTED FUNDS-STMICHAEL CHARITIES 2029 2029 2022
Income Mm'nte-
aaace
Music Rune MS
costs
Total Total
f.
StMichael Charities grants 19,368 32,583 22,924 81250 156,125 139,808
LPOW grants n donations 2,944 250 3,194 563
Total Income 22,312 32,833 22,924 81,250 159,319 140,371
Administrative
costs
6 f
Music -musicians 19,978 19,978 21,490
Music —other expenditure 1,199 1,199 3,318
Statp. Director ofMusic 11,656 11,656 10,806
Chmvh maintenance
service contracts
3,094 3,094 2,382
Insurance 5,928 5,928 6,442
Minor repairs 2.031 2,031 3,139
Organ /piano
tuning
763 763 3,059
Major repairs 10,496 10,496 11,600
Directly related to objects ofthe couaca 55,145 62,236
Church 4s Parish Room electricity 10,050 10,050 6,756
Church st Parish Room gas 8,952 8,952 5,377
Church 4s Perish Room water Stwaste 1,491 1,491 1,014
ITrb soffware mpport 1,920 1,920 2,990
Telecoms sb broadband 511 511 470
Staff: Caretaker 17,362 17,362 14,040
Caretaker flat expenses 3,312 3,312 2,345
Staff: Church Administrator 25,029 25,029 31206
Staff. Cost ofother staff 718 718 2,849
Staff: Finance Manager 12,773 12,773 11,088
Staff: Administration
Assistant
12,720 12,720
Staff: FaciTities Assistant 9,336 9,336
Admiaistration
and other
running costs 104,174 78,135
Total Administrative
costs
22,312 32,833 22,924 81,250 159219 140,371
Net Income / (Expenditure) 0 0 0 0 0
8RESTRICfED FUNDS - OTHER
Welfare Spiritual Resources Hospitality Tower Refur- Total Total
Income Fund bishmentf 2023
f.
2022
6
Deposit Fund interest 5,940 5,940
Donations
db collections
5,796 1,750 750 8296 600
Grants 11203 11203 150,000
Total Income 5,796 1,750 750 17,143 25,439 150,600
Admiaistrative
cosht
Welfare fund spend 2,470 2,470 438
Spiritual Resources spend 793 793 358
Tower refwbisbment
costs
3,804 3,804 6,876
Total Administration
costs
2,470 793 3,804 7,067 7,672
NetIncome/
x enditure
3,326 957 150 13,339 18,372 142,928
2023 2023 2022 2022 2023 2022
Restricted Funds Income Expeediture Income Expenditure Net Net
StMichael Charities —Directly related to objects 159,319 55,145 139,808 622M
Other restricted
funds - Directly
related to ob'eats 25439 7067 150 600 7672
Total - Directly related to objects 184,758 62212 290,408 69,908
StMichael Charities - Administration 104,174 563 78,135
Total Restricted Income / Expenditure 184,758 166/86 290,971 148,043 18,372 142,928

2023 2022
6 E
Salaries and employee costs including employers' national insurance 117,033 94,584
Pension and life cover costs 16,423 11,051
333,456 335,635

No remuneration was paid to members ofthe
parochial
church
council.

10TANGIBLE FIXED ASSETS
Computer Fixtures and
equipment fittings Total
Cost 6 8
At 1 January 2023 9,048 25,536 34,584
Additions
Disposals (342) (342)
At 31 December 2023 8,706 25,536 34,242
Accumulated
depreciation
At 1 January 2023 8,449 21,266 29,715
Charge for year 230 1,717 1,947
Disposals (342) (342)
At 31 December 2023 8,337 22,983 31,320
Net book value
At 1 January 2023 599 4,270 4,869
At 31 December 2023 369 2,553 2,922
DEBTORS 2023 2022
8
Tax & Nl credit —SMP scheme 4,806
St. Michaels Charities 4,071 2,419
Other debtors 557 913
Prepayments
and accrued income
2,423 2,350
11,857 5,882
CREDITORS: Amounts falling due within one year
2023 2022
E E
Accruals and deferred income 5,491 10,095
Other taxation and social security 2,359
Other creditors 11,288 18,652
16,779 31,306

13MOVEMENT IN FUNDS 2023
As at1 Incoming Outgoing Transfers As at31
January resources resources December
2023 (incl gains) 2023
8 8 8
Unrestricted
funds
General fund 144,589 153,222 (122,912) 174,899
Designated
funds
15,999 4,802 (2,749) 18,052
Unrestricted
Funds
180,588 158,024 (125,881) 192,951
Restricted funds
StMCh Maintenance 22,312 (22,312)
StMCh Music 32,833 (32,833)
StMCh Running costs 22,924 (22,924)
StMCh Staff 81,250 (81,250)
159,319 (159,319)
Welfare 720 5,796 (2,470) 4,046
Spiritual Resources 911 1,750 (793) 1,868
Hospitality
Fund
750 750
Tower Refurbishment 143,124 17,143 (3,804) 156,463
Restricted funds 144,755 184,758 (166,386) 163,127
Total funds 305,343 342,782 (292,047) 358,078
13MOVEMENT IN FUNDS 2022
As at 1 Incoming Outgoing Transfers As at 31
January resources resources December
2022 (incl gains) 2022
' E 8 E
Unrestricted
funds
General fund 122,288 146,528 (124,225) 144,589
Designated
fund
33,795 (17,798) 15,999
Unrestricted
funds
122,286 180,323 (142,021) 160,588
Restricted funds
StMCh Maintenance 26,822 (26,622)
StMCh Music 35,614 (35,614)
StMCh Running
costs
16,607 (16,607)
StMCh Staff 61,528 (61,528)
0 140,371 (140,371)
Welfare 558 600 (438) 720
SpiMitual Resources 1,269 (358) 911
Tower Refurbishment 150,000 (6,876) 143,124
Restricted funds 1,827 290,971 (148,043) 144,755
Total funds 124,113 471,294 (290,064) 305,343

14ANA LYSIS OF NET ASSETS BETWEEN FUNDS 2023
Unrestricted Restricted Total
funds funds funds
2 E 2
Tangible fixed assets 2,922 2,922
Current assets 196,027 173,908 369,935
Current liabilities (5,998) (10,781) (16,779)
192,951 163,127 356,078

Unrestricted Restricted Total
funds funds funds
2 6 2
Tangible fixed assets 4,869 4,869
Current assets 180,149 151,831 331,780
Current liabilities (24,430) (6,876) (31,306)
160,588 144,755 305,343

2023 2022
Tower Tower
Shop stockf Shop stock
f
Opening stock valuation 4,864 4,867
Purchased
during the year
8,212 7,160
13,076 12,027
Closing stock valuation
Cost ofgoods sold during the year
~(il,224
7,852
(4,864)
7,163

17DEBTORS 2023 2022
AA Saturday 50 210
AA Thursday 234 306
AA Wednesday 30
Oxford Deanery 215
Oxford Pastorate 28
Amounts
owed by St Michael Charities
4,071 2,419
HMRC Tax6 Nl credit 4,606
Trinity Church 108
Paul Flather 35
Kennington
Choir
254
9,434 3,332
PREPAYMENTS
Oxford City Council tax 272 109
PHS Sanitary Disposal 117 105
FG Aldens
Ltd
554 512
Ecclesiastical
insurance
1,312 1,624
MGI - air conditioning 166
2,423 2,350
DEBTORS AND PREPAYMENTS 11,857 5,682

2023 2022
18CREDITORS AND ACCRUALS
HMRC —PAYE / Nl(er) 2,359
AA PAT Testing
Ltd
197
FG Aldens
Ltd
664 615
Choral Scholars 2,344 2,230
Director of Music expenses 254
Global Surveys 6,876
Ecclesiastical
Insurance
927 1,028
Wenn Townsend
(Independent
Examination of Accounts) 1,000 1,000
Awesome Tech Training 2,400
Total Gas 6 Power 3,316 6,986
Octopus Energy 2,609
Thames Water 94 71
Church Workers Pension fund 2,759 1,367
Monard Electrical Contractors 2,026
MLR Payroll Services 54
Marston Solutions 5
Pat Earl expenses 220 206
Clergy expenses 200
MoM due to Child Fund Brazil 50
MoM due to The Brain Tumour Charity 156
MoM due to Meningitis Trust 117
Eden stock purchases 216
Executive Alarms 134
Oxford Direct Services 223
TMD Media 36
DM Music 3,781
Credit card and bank charges 22
Castle Water 43
Holiday Pay accrual 1,000
TOTAL CREDITORS AND ACCRUALS 16,779 30,808
2023 2022
DEFERRED INCOME
Scaffolding
perm. (building
work next door premises) 500
TOTAL DEFERRED INCOME 500
CREDITORS AND DEFERRED INCOME TOTAL 16,779 31,306