## **ST MARY THE VIRGIN, SHEERING** ## **REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** **FOR ST MARY THE VIRGIN, SHEERING** **REGISTERED CHARITY NUMBER 1149115** ## ST MARY THE VIRGIN, SHEERING REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023 St Mary's Church is situated in Church Lane, Sheering. It is part of the Diocese of Chelmsford within the Church of England. The correspondence address is The Vicarage, Broomfields, Hatfield Heath, Bishops Stortford, Herts CM22 7EH. The Parochial Church Council (PCC) is a charity registered with the Charity Commission (Charity number 1149115). PCC members who have served from 1 January 2023 until the date this Report was approved are: Incumbent: The Revd Dawn Jewson Chair: The Revd Dawn Jewson Vice Chair: Mrs Jane Potter (since 7 May 2023) Wardens: Mrs Elsie Baker (until 7 May 2023) Mrs Fiona Klimcke Treasurer: Mrs Jean Franks Secretary: Mrs Elsie Baker Representative on Deanery Synod: Mrs Jane Potter Elected members: Mrs Barbara Aylmer Mr Nandiran Ratnavel Mr Stuart McCulloch (until 4 December 2023) Mrs Sarah McCulloch (until 4 December 2023) Mrs Lydia Taylor Bankers: Barclays Bank Plc 10 North Street Bishops Stortford Herts. CM23 2LH National Westminster Bank Plc 12 The Rows Harlow Essex. CM20 1BZ Independent examiner: Rev Malcolm Green BA (Hons) 5 The Gowers Harlow Essex CM20 2JP. 1 ## ST MARY THE VIRGIN, SHEERING ## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The Church is governed by the Parochial Church Council Powers Measure (1956) as amended and Church Representation rules that came into force in 2020 and subsequent amendments. ## **Structure:** The method of appointment of PCC members is set out in the Church Representation Rules. All Church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC. ## **Objectives and activities:** St. Mary’s PCC has the responsibility of co-operating with the Incumbent, in promoting within the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical. It also has maintenance responsibilities for the Church, Church Room and grounds. ## **Committees:** The PCC operates through committees, and also receives reports and advice from various groups which may meet between full meetings of the PCC. Standing Committee: This is the only committee required by law. It has power to transact the business of the PCC between its meetings, subject to any directions given by the Council. ## Finance Committee: Oversees the general finance dimension of the work of St Mary's by monitoring income and expenditure, budgeting and co-ordinating the annual review of the Christian Stewardship of money through planned giving. Fabric Committee: Attends to matters relating to the stewardship of plant, such as the church buildings and fabric, the churchyard (including overseeing the implementation of the Diocesan churchyard regulations). ## **Church attendance:** At the APCM 2023 there were 44 people on the Electoral Roll, 19 being non-resident. During the year 2 members moved away. There are no new members on the Roll which now stands at 42, with 17 non-resident. The Parish Count in October averaged 20 adults and 0 children per Sunday. ## **Review of the year** The full PCC met 9 times during the year with an average level of attendance of 80%. In addition the PCC was convened once by email for a single-topic decision. Committees met between meetings, and minutes of their deliberations were received by the full PCC and discussed. The Church was used throughout the year for 4 weddings, 0 baptisms and 6 funerals. Harvest was celebrated over the weekend of 23/24 September 2023 with teas and stalls in the Church Room and a service in Church with harvest gifts donated to Harlow Foodbank and Streets2Homes. At that service bibles were presented to children from the Reception Class at Sheering School. St Mary’s Brass provided the music for Carols and Mulled Wine in the Village Hall in December (£351 sent to Crisis at Christmas) and also played Christmas music at an event in The Cock Inn (£62 donated to Friends of St. Mary’s funds). A separate group of musicians led carol singing round the village (£136.11 sent to TearFund), A Christmas card in Church raised £151.08 for Crisis at Christmas. Friends of St. Mary’s hosted three fund-raising events: A quiz in the Village Hall, a concert in church with local musicians and a Wildlife talk in the Church Room. A moth-trapping evening in the churchyard identified over 120 species The Bishop consecrated an extension to the churchyard on 15 November 2023. 2 ## ST MARY THE VIRGIN, SHEERING ## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Financial review (detailed in the Financial Statements) ## Income Total Income for the year was £35,469 (unrestricted) and £5,898 (restricted). ## Expenditure Total expenditure for the year was £32,811 expended from general funds and £5,394 expended from restricted funds. The accounts showed an excess of income over expenditure for the year of £2,658 in our unrestricted funds. This meant that the balance of our unrestricted funds increased from £6,459 at the end of the last financial year to £9,117 at the end of this financial year. The charitable giving for the year amounted to £1,119 The ongoing Parish Share contribution (for Diocesan provision) represents a significant challenge, and the PCC continues in its endeavours to meet this in order that the work of spreading the good news of Jesus can continue to be effective and relevant in our Parish. Our Parish Share contribution has been fixed at £16,646 this year because, for the first time in many years, we share the cost equally with Holy Trinity, Hatfield Heath. ## Public benefit statement In shaping the Church's objectives and planning the activities, the PCC members have considered the Charity Commission's guidance on public benefit. ## A thank you to all. Finally, on behalf of the PCC, I would like to express thanks once again to the congregation for their continuing financial support during 2023 which was another very challenging year in both our Church and in the wider world due to continuing unease around the world and the financial pressures in the wider economy. I would also like to express thanks to everybody who helps with the smooth running of St. Mary's finances, particularly Philip Taylor who has supported me in my role, and whose invaluable help I greatly rely upon; Jane Potter who, together with Philip Taylor and myself, make up our finance committee; Philip Taylor helping with monitoring the accounts and producing financial reports for PCC meetings and Jane Potter faithfully dealing with reclaim of Gift Aid tax; Vernon Baker and Philip Taylor who look after collections; and Elsie Baker who oversees the finances for Friends of St. Mary's. Approved by order of the board of trustees on ……………………………………… and signed on its behalf by: .…………………………………… Mrs Jean Franks, Treasurer 3 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST AIARY THE VIRGW, SHEERING Ind•p•nd•ne •Mmln•r's r•port to th• trusl••s ol St Mary th• Vlrghl, 8hwlng I retK>rt to the clwlty In￿5 on my examinati￿ of th• aco)unts of Sl Mary thé Vlrgn. Shééring {th• Trusll Ihe y•ar ended 31 D8cwnbw 2023. R•sponslbllttl•s and ba￿1 of rnport As the charty trusI￿S of lh8 Tn￿1. yw are rèS￿￿￿$t fcrf the prepar*in of Iho ac¢oLnts . accordant6 with the rwJrements of the Chanibes Act 2011 (the Ad). I re{￿ in respect of my examinats'on d the Tr￿t'S acc4xffits cam8d oiA undw seCth￿ 145 of Ihe Act and In carylng my examinau'on I hav6 foltr￿ all apF*able ￿'r￿tiOnS giv•n ty thè Ch•rty Commlsslon under sectlon 14515)¢b) of the ACL Ind•p•nd•nt èxafflln•r'8 sL1t•m•nQ I have completed my eXaMW￿￿on. I conflrm Ihat nD mateflal mallors have (xMn• to my att￿tk￿ C4Mnects'on wilh examinatson giving me cause lo belbeve tr￿1 n any matenal respect: 1. accountlng r8cords not kepi kn respgct of ts Trust as rewk•d ty ￿￿50ft 130 of tr• *' 2. the aCcO￿ts do not aax>rd wllh those r8cx)rds' or 3. the accounts do nol comply V￿th the *icabl8 r￿uIreMents concerning the fonn ¢￿tent of actounts sel oui in the Chanties {A¢￿unts and Rep￿ts} Rogulali￿s 2(L18 crther than any requlremenl Ihal aCc￿nts gve a true f*r v*w which ts nol a matter consMJer8d as part of an vM*endent examlnallon. I hav8 no crxKerrs and ha￿ com• acxoss othor malers In (￿nnect￿￿ vAth the examinatlon to which attenllon sIK￿Jkl be dravm In ordef to W*ablo a prowf undorsl¥>ding of Ihe accounts b• r•ath•d. 231¢ Awd. 2024 Rev M Gr8en Indapend•nl Examln•f ## **The PCC of Ecclesiastical Parish of St Mary's Sheering** ## **Statement of Financial Activities** ## **For the period from 01 January 2023 to 31 December 2023** |||**Unrestricted**|**Restricted**|**Endowment**|**Endowment**|**Total**|**Prior year**| |---|---|---|---|---|---|---|---| |||**funds**|**funds**|**funds**||**funds**|**total funds**| |**_Income and endowments from:_**|||||||| |Donations and legacies||31,226|5,898|—|37,125||24,895| |Income from charitable activities||3,671|—|—||3,671|2,451| |Investments||572|—|—||572|569| |Other income||—|—|—||—|1,532| |**Total income**||**35,469**|**5,898**|**—**|**41,368**||**29,447**| |**_Expenditure on:_**|||||||| |Raising funds||60|176|—||237|—| |Expenditure on charitable activities||32,303|5,217|—|37,521||35,251| |Otherexpenditure||446|—|—||446|—| |**Total expenditure**||**32,811**|**5,394**|**—**|**38,205**||**35,251**| |Gains / losses on investment assets||—|—|1,814||1,814|(2,537)| |**Net income / (expenditure) resources**||**2,658**|**503**|**1,814**||**4,976**|**(8,341)**| |**_Transfers_**|||||||| |Gross transfers between|funds - in|—|—|—||—|0| |Gross transfers between|funds - out|—|—|—||—|0| |**_Other recognisedgains_**|**_/ losses_**||||||| |**Net movement in funds**||**2,658**|**503**|**1,814**||**4,976**|**(8,341)**| |**_Reconciliation of funds_**|||||||| |**Total funds brought forward**||**6,459**|**3,256**|**19,118**|**28,834**||**37,176**| |**Total funds carried forward**||**9,117**|**3,760**|**20,932**|**33,810**||**28,834**| ||**_There may be minor_**|**_discrepancies in the totals if the_**||**_pence are not being shown_**|||| 5 ## **The PCC of Ecclesiastical Parish of St Mary's Sheering** ## **Balance sheet (Summary) As at: 31 December 2023** ||**£**
**As at 31/12/2023**|**£**
**As at 31/12/2022**| |---|---|---| |||| |**Fixed assets**
Tangible assets
**Current assets**
Debtors
Cash at bank and in hand
**Liabilities**
Creditors: Amounts falling due in one year
**Net current assets less current liabilities**
**Total assets less current liabilities**
**Total net assets less liabilities**
**Represented by**
**Unrestricted**
Unrestricted - General fund
**Restricted**
Restricted - Flower Fund
Restricted - Friends Of St Mary's
Restricted - Len Gunn Bequest
Restricted - Pam Gunn Memorial Fund
**Endowment**
Endowment - Scoones Bequest
Endowment - Williams Bequest
**Funds of the church**|20,932|19,118| |||| ||20,932
1,136
15,835|19,118
1,623
10,493| |||| ||16,971
4,092|12,116
2,400| |||| ||**12,878**|**9,716**| |||| |||| ||**33,810**|**28,834**| |||| |||| ||**33,810**|**28,834**| |||| ||9,117
169
3,591
—
—
8,748
12,184|6,459
169
3,087
—
—
7,989
11,128| |||| ||**33,810**|**28,834**| |||| ## _**There may be minor discrepancies in the totals if the pence are not being shown**_ 6 ## **Notes to the Financial Statements** ## **For the Year Ended 31 December 2023** ## **1. Statutory Information** St Mary the Virgin is an unincorporated charity, registered in the name of The Parochial Church Council of the Ecclesiastical Parish of Sheering. The principle office is detailed on page 1 of the financial statements. The financial statements are presented in pounds sterling, which is the functional currency of the charity. The financial statements comply with section 1A of Financial Reporting Standard 102. ## **2. Accounting Policies** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102 have been prepared in accordance with the Charities SORP(FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practises applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accurate basis and has been classified under headings that aggregate all cost related to the category where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the yearend date are noted as a commitment but not accrued as expenditure. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Investments** Investments comprise a managed investment fund. Investments are measured at fair value with changes in fair value recognised in the statement of financial activities. 7 ## **The PCC of Ecclesiastical Parish of St Mary's Sheering Analysis of income and expenditure Selected period: 01 January 2023 to 31 December 2023** |**Income and endowments**
**_Donations and legacies_**
Gift Aid - Bank
Other planned giving
Loose plate collections
One-off Gift Aid gifts
Donations appeals etc
Tax recoverable on Gift Aid
Non-recurring one-off grants
Other funds generated
**_Donations and legacies Totals_**
**_Income from charitable activities_**
Fees for weddings and funerals
**_Income from charitable activities_**
**_Totals_**
**_Investments_**
Dividends
**_Investments Totals_**
**_Other income_**
Insurance claims
**_Other income Totals_**
**Income and endowments**
**Grand totals**|**Total**
**Total**
**Unrestricted**
**Restricted**
**2023**
**2022**| |---|---| ||| ||3,540
750
4,290
4,981
13,753
75
13,828
10,595
1,527
—
1,527
2,000
2,680
—
2,680
—
3,269
2,492
5,761
2,411
4,888
947
5,836
3,932
950
—
950
—
617
1,634
2,251
974| ||| ||31,226
5,898
37,125
24,895
3,671
—
3,671
2,451| ||| ||3,671
—
3,671
2,451
572
—
572
569| ||| ||572
—
572
569
—
—
—
1,532| ||| ||—
—
—
1,532| ||| ||35,469
5,898
41,368
29,447| The charity also receives fees for weddings, funerals and other related services, in its capacity as agent, on behalf of the Chelmsford Diocesan Board of Finance and other service providers. Neither these receipts nor their subsequent payments are recognised in income and expenditure. (Expenditure appears on the next page) 8 |**Expenditure**
**_Raising funds_**
Fees paid to fund raisers
Costs of fetes & other events
**_Raising funds Totals_**
**_Expenditure on charitable activities_**
Giving to missionary societies
Giving - relief and development agencies
Home mission
Secular charities
Ministry parish share etc
Salary of parish administrator
Working expenses of incumbent
Church running - insurance
Organ / piano tuning
Church maintenance
Upkeep of services
Upkeep of churchyard
Administration
Church running - electric
Church running - water
Hall running - electricity
Hall running - maintenance
Governance costs examination/audit fee
**_Expenditure on charitable_**
**_activities Totals_**
**_Other expenditure_**
Payroll Bureau costs
**_Other expenditure Totals_**
**Expenditure Grand totals**|**Total**
**Total**
**Unrestricted**
**Restricted**
**2023**
**2022**
—
50
50
—
60
126
187
—| |---|---| ||| ||60
176
237
—
938
—
938
—
—
—
—
386
156
—
156
20
25
—
25
—
16,646
—
16,646
16,000
2,401
—
2,401
1,871
221
—
221
184
2,926
—
2,926
2,476
20
—
20
440
—
410
410
3,881
2,143
—
2,143
2,745
—
30
30
3,894
1,976
—
1,976
419
2,988
—
2,988
1,473
346
—
346
357
1,474
—
1,474
811
—
4,395
4,395
250
40
381
421
40| ||| ||32,303
5,217
37,521
35,251
446
—
446
—| ||| ||446
—
446
—| ||| ||32,811
5,394
38,205
35,251| |**_There may be minor discrepancies in the totals as the pence are not being shown_**|| ||| |**GRAND TOTAL**
2,658
504
3,163
(5,804)|| There were no trustees’ remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022 There were no trustees’ expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022 9 **The PCC of Ecclesiastical Parish of St Mary's Sheering** ## **Statement of Assets and Liabilities As at: 31 December 2023** |**General**
**Last**
**year**
**2022**
**Class and nominal code**
**Restricted**
**Endowment**
**Total**
**2023**|**General**
**Last**
**year**
**2022**
**Class and nominal code**
**Restricted**
**Endowment**
**Total**
**2023**| |---|---| ||| |6430 : Williams Bequest
6431 : Scoones Bequest
**Fixed assets - Tangible assets**
—
—
12,184
12,184
11,128
—
—
8,748
8,748
7,990
**Total**
—
—
20,932
20,932
19,118
**Current assets - Cash at bank and in hand**
6501 : Bank current account
12,461
97
—
12,557
6,978
6505 : Bank Friends account
104
3,006
—
3,109
3,346
6590 : Cash in hand
—
169
—
169
169
**Total**
12,564
3,271
—
15,835
10,493
**Current assets - Debtors**
Z05 : Accounts Receivable
(416)
1553
—
1136
1623
**Total**
(416)
1553
—
1136
1623
**Liabilities - Agency accounts**
6699 : Agency collections
—
13
—
13
15
**Total**
—
13
—
13
15
**Liabilities - Creditors: Amounts falling due in one year**
Z04 : Accounts Payable
3,030
1,050
—
4,080
2,385
**Total**
3,030
1,050
—
4,080
2,385
**Net total assets**
9,118
3,761
20,932
33,811
28,834|| ||| ||**Total**
3,030
1,050
—
4,080
2,385| ||| ||| ||**Net total assets**
9,118
3,761
20,932
33,811
28,834| ||| ||| |**Represented by**
Unrestricted - General
9,118
—
—
9,118
6,459
Restricted - Flower
—
169
—
169
169
Restricted - Friends
—
3,592
—
3,592
3,088
Endowment - Scoones
—
—
8,748
8,748
7,990
Endowment - Williams
—
—
12,184
12,184
11,128
**Total**
9,118
3,761
20,932
33,811
28,834|| ||| ||**Total**
9,118
3,761
20,932
33,811
28,834| 10 ## **The PCC of Ecclesiastical Parish of St Mary's Sheering** ## **Fund movement summary Selected period: 01 January 2023 to 31 December 2023** |**Fund**|**Fund Balances**|**Incoming**|**Outgoing**|**Gains and**|**Fund balances**| |---|---|---|---|---|---| ||**brought forward**|**Resources**|**Resources**|**Losses**|**Carried forward**| |Flower - Flower Fund|169|—|—|—|169| |Friends - Friends Of St Mary's|3,087|5,898|(5,394)|—|3,591| |Scoones - Scoones Bequest|7,989|—|—|758|8,748| |Williams - Williams Bequest|11,128|—|—|1,056|12,184| |General - General fund|6,459|35,469|(32,811)|—|9,117| |**Totals**|**28,834**|**41,368**|**(38,205)**|**1,814**|**33,810**| |**_There may be minor discrepancies in the totals if_**||**_the pence are_**|**_not being shown_**||| 11