##
|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|
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|||||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|
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|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|