## **Receipts and Payments** ## **Christ Church, Ashton-under-Lyne** Period: 01/01/2023 to 31/12/2023 |Notes
Receipts
Voluntary Income
2(a)
Fundraising trading
2(b)
Investment Income
2(c)
Income from church activities
2(d)
Other Income
2(e)
**_Total Receipts_**
Payments
Fundraising trading costs
3(a)
Church Activities
3(b)
Governance
3(c)
Restoration
3(d)
**_Total Payments_**
**_Excess of Receipts over Payments before transfers_**
Transfers
_Transfers between funds - in_
_-out_
**_Net Movement in Funds_**
Cash & Bank balances b/fwd 1st January 2023
**Cash & Bank balances c/fwd 31st December 2023**|Unrestricted
25,107.90
1,378.45
144.18
4,171.00
580.00|Designated|Restricted
48.00|2023
2022
25,155.90
25,274.36
1,378.45
2,031.67
144.18
44.16
4,171.00
6,501.00
580.00
1,250.00| |---|---|---|---|---| ||**31,381.53**|**0.00**|**48.00**|**31,429.53**
**35,101.19**| ||-566.44
-66,189.07
0.00
0.00|||-566.44
-110.15
-66,189.07
-61,792.15
0.00
-780.00
0.00
0.00| ||**-66,755.51**|**0.00**|**0.00**|**-66,755.51**
**-62,682.30**| ||**_-35,373.98_**|**_0.00_**|**_48.00_**|**_-35,325.98_**
**_-27,581.11_**
_0.00_
_0.00_
_0.00_
_0.00_| ||**-35,373.98**
258,595.95|**0.00**
71,616.47|**48.00**
29,589.04|**-35,325.98**
**-27,581.11**
359,801.46
387,382.57| ||**223,221.97**|**71,616.47**|**29,637.04**|**324,475.48**
**359,801.46**| ## **Statement of Assets and Liabilities** ## **Christ Church, Ashton-under-Lyne** As at 31st December 2023 ||Notes|**2023**
**Unrestricted**
**funds**|**2023**
**Designated**|**funds**|**2023**
**Restricted**|**funds**|**TOTAL**
**2023**|**TOTAL**
**2022**| |---|---|---|---|---|---|---|---|---| |**Bank & Deposit Balances**||**£**|**£**||**£**||**£**|**£**| |Bank & deposit balances brought forward||258,595.95|71,616.47||29,589.04||**359,801.46**|387,382.57| |Excess of Receipts over payments for the year||-35,373.98||0.00||48.00|**-35,325.98**|-27,581.11| |Transfers between funds||0.00||0.00||0.00|**0.00**|0.00| |Bank & deposit balances carried forward|6|223,221.97|71,616.47||29,637.04||**324,475.48**|359,801.46| ## **Christ Church, Ashton-under-Lyne** ## **NOTES TO THE FINANCIAL STATEMENTS for the year ending 31 December 2023** ## **1. ACCOUNTING POLICIES** The principal accounting policies adopted in the preparation of the financial statements are set out below. ## **Basis of preparation** The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 using the Receipts and Payments basis. The financial statements include all transactions for which the PCC is responsible. They do not include the accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members. ## **Fund accounting** **Endowment Funds** are funds, the capital of which must be maintained; only income arising from investment may be used either as restricted or unrestricted funds depending upon the purpose for which the endowment was established. The PCC currently holds no endowment funds. **Restricted Funds** represent donations or grants received for a specific purpose or invited by the PCC for a specific purpose. The funds may only be expended on the specific purpose for which they were given. Any balance remaining unspent at the end of the year is carried forward as a balance on that fund. The PCC does not normally invest separately for each fund but, when appropriate, interest is apportioned to individual funds. All receipts and payments relating specifically to restoration of the church building are categorised as Restricted Funds. There is also a Restricted Fund established in 2012 'for the good of the choir'. **Designated Funds** are funds which are not restricted by the donor but which the PCC has agreed to designate to be used in the future for a specific purpose. They remain under the control of the PCC as part of unrestricted funds and could be re-designated at any time in the future at the discretion of the PCC. **Unrestricted Funds** are general funds which can be used for PCC ordinary purposes. They include designated funds and free reserves. Free reserves are those funds available to be used at the discretion of the PCC which have not been designated for any particular purpose. ## **Receipts and Payments** ## **Christ Church, Ashton-under-Lyne** ## **2(a) Voluntary Income** |**2(a) Voluntary Income**||| |---|---|---| |**2(b) Fundraising trading**
**2(c) Investment Income**
**2(d) Income from church activ**
**2(e) Other Income**
**3(a) Fundraising trading costs**
**3(b) Church Activities**
**3(c) Governance**
**3(d) Restoration**||**2023**
**2022**| ||Donations - FOCC Planned Giving Envelopes
Donations - FOCC standing orders
Cash collections
Donations
Special appeals
Votive candles
Tax recoverable
Legacies
Donations - Book of Remembrance|11,983.48
12,301.66
4,669.80
4,219.80
1,243.28
1,539.96
409.76
54.00
1,460.87
0.00
1.80
10.00
4,336.91
0.00
1,000.00
7,083.94
50.00
65.00
25,155.90
25,274.36
**2023**
**2022**| ||Fund raising events
Bookstall/Cards
200 Club|1,378.45
2,031.67
0.00
0.00
0.00
0.00
1,378.45
2,031.67
**2023**
**2022**| ||Diocesan Board of Finance Deposit Fund interest
Bank interest
Dividends
Revaluation of COIF units (J Walker Charity)
**ities**|115.78
20.15
0.00
0.00
28.40
24.01
0.00
0.00
144.18
44.16
**2023**
**2022**| ||Service Fees
Room hire
Parish magazine|3,856.00
6,401.00
290.00
75.00
25.00
25.00
4,171.00
6,501.00
**2023**
**2022**| ||Insurance claim
Other income
Grant Income
|0.00
0.00
0.00
0.00
580.00
1,250.00
580.00
1,250.00
**2023**
**2022**| ||Costs of events
Costs of generating voluntary income|-186.44
-110.15
-380.00
0.00
-566.44
-110.15
**2023**
**2022**| ||Mission and charity giving - home
Mission and charity giving - overseas
Clergy discretionary giving
Parish Share
Vicar's expenses
Curate expenses
Vicarage Council Tax
School ministry expenses
Prayer Group expenses
Repairs and maintenance
Insurance
Gas
Electricity
Telephone
Office costs
Postage and stationery
Bank Service Charge
Cleaners
Messy Church expenses
Upkeep of services
Gravedigger
Organist fee
Water
Legal costs
Occasional Office fees|-455.00
-33.13
0.00
0.00
0.00
0.00
-37,800.00
-34,340.00
-2,477.01
-4,287.98
0.00
0.00
-1,902.97
-1,811.09
-537.29
-186.25
0.00
0.00
-3,915.72
-4,989.70
-4,143.64
-3,822.13
-2,013.00
-2,949.00
-5,037.21
-1,952.63
-754.66
-672.88
0.00
-1,109.72
-2.49
-79.28
-278.15
-290.78
-1,320.00
-490.22
0.00
0.00
-2,901.11
-2,818.83
-150.00
-308.99
-60.00
-225.00
-1,690.82
-1,424.54
0.00
0.00
750.00
0.00
-64,689.07
-61,792.15
**2023**
**2022**
0.00
-780.00
0.00
-780.00
**2023**
**2022**
0.00
0.00
0.00
0.00
0.00
0.00| ||PCC governance costs|| ||Restoration Consultancy
Restoration Work|| ## **Christ Church, Ashton-under-Lyne** ## **NOTES TO THE FINANCIAL STATEMENTS For the year ending 31 December 2023 (Cont)** |**4. FUND MOVEMENTS**
Unrestricted funds - General
Unrestricted funds - Designated
**Unrestricted funds - Total**
Restricted funds - Restoration
Restricted funds - Choir
**Restricted funds -Total**
**Total Funds**|**Balance**
**31st Dec 2022**
**Incoming**
**Resources**
**Resources**
**Expended**
**Transfers**
**In / (out)**
**Balance**
**31st Dec 2023**
258,595.95
31,381.53
-66,755.51
0.00
223,221.97
71,616.47
0.00
0.00
0.00
71,616.47| |---|---| ||330,212.42
31,381.53
-66,755.51
0.00
294,838.44| ||28,589.04
48.00
0.00
0.00
28,637.04
1,000.00
0.00
0.00
0.00
1,000.00| ||29,589.04
48.00
0.00
0.00
29,637.04| ||| ||**359,801.46**
**31,429.53**
**-66,755.51**
**0.00**
**324,475.48**| ## **5. FUND MOVEMENTS (Cont.)** ## **General Funds** General Funds represent the amounts available to the PCC to meet its ongoing obligations, based on the assumption that restricted funds are not available for general use. The PCC has historically tried to maintain 9-12 months' operating costs in general funds. The receipt of a substantial legacy in 2021 increased the General Fund above this level and ensured that ongoing obligations could be met. Income for 2023 was £31,429, £3,672 less than the previous year. Reduced income from service fees (down £2,330) and fundraising events (down £653) accounts for most of the shortfall. Voluntary giving has still not returned to the levels seen pre-pandemic. Income from giving envelopes and cash collections is still approximately £8,000 less than in 2019. We have invested in contactless card-readers and QR codes in order to facilitate cashless giving. This has been met with mixed reactions. It is too early to comment on how successful this has been as yet. Expenditure was up from £62,682 to £66,755. Parish Share payments in the year increased from £34,340 to £37,800. We paid 100% of our Share again. Due to an error with estimated bills at the end of 2022, the payments made in respect of electricity for the church building totalled £5,037 for the year. The error was corrected and this resulted in a credit balance with EON Next of £5,675 at the yearend 2023. A refund has been requested. Our expenditure for the year exceeded our income by £35,326. Looking back to 2019, just before the Covid pandemic restrictions started, we were just about breaking even; our income exceeded our outgoings by just over £600. Compared to 2019, our voluntary income is down by £18,166 per year; our total expenditure has increased by £8,406, £6,350 of which is an increase in Parish Share. The reduction in voluntary income and the increase in Parish Share constitute approximately £24,000 of our £35,326 shortfall. In short, our income has to increase by £680 per week to maintain any chance of Christ Church surviving financially beyond 2030. ## **Designated Funds** As detailed in the Accounting Policies section, Designated Funds are funds which are not restricted by the donor but which the PCC has agreed to designate to be used in the future for a specific purpose. They remain under the control of the PCC as part of unrestricted funds and could be re-designated at any time in the future at the discretion of the PCC. A legacy in the sum of £144,979.57, was designated in 2016 by the PCC for restoration purposes.No changes have been made since the prior year save the few remaining standing order payments, totalling £88 for the year. ## **Restoration Fund** All expenditure for Phase 2 of the restoration work is complete. Discussions and consultations regarding Phase 3, the reordering of the interior of the building, have resumed following the disruptions of the COVID pandemic. No firm plans have yet been formulated. |**6. ACCOUNT BALANCES**
PCC General Account
Restoration & Improvement Fund
Restoration Account
Decorating Fund
Organ Fund
Walkers Charity Account
CofE Deposit Fund - Christ Church GARS
CofE Deposit Fund - PCC1
CofE Deposit Fund - PCC No.2 Account
Lloyds TSB Shares
**Total**|**Balance**
**31st Dec 2023**
**Balance**
**31st Dec 2022**
218,656.71
254,030.69
5,503.69
5,503.69
94,111.55
94,063.55
469.12
469.12
1,607.54
1,607.54
0.00
0.00
3,000.00
3,000.00
26.87
26.87
0.00
0.00
1,100.00
1,100.00| |---|---| ||**324,475.48**
**359,801.46**| ## CHRIST CHURCH, ASHTON-UNDER-LYNE ## **TREASURER’S SUMMARY FOR THE YEAR ENDED 31[ST] DECEMBER 2023** ## **Bankers** Lloyds TSB, Oldham Branch, 16 Market Place, Oldham, OL1 1JG. ## **Financial Review** The principal funding for the church comes from the regular giving of its congregation. Additional monies are raised through social events, fundraising activities, legacies, fees and collections from the occasional offices and occasional donations. The church has also received a number of grants in the past for restoration works. Incoming resources on total funds were £31,429.53 (2022: £35,101.19). 80% came from donations, a further 4% from fundraising efforts and the balance from statutory fees for weddings and funerals and government energy payment grants. Resources expended from total funds totalling £66,755.51 (2022: £62,682.30) consisted mainly of the Parish share, insurance, utility bills and property repairs and maintenance. There was a deficit of receipts over payments of £35,325.98. The Parish Share of £38,500 was paid in full. ## **Funds held as Custodian Trustees on behalf of others** As at December 2023 the PCC held no funds on behalf of any third party. ## **Plans for Future Periods** The church plans continuing the activities outlined above in the forthcoming years subject to satisfactory funding arrangements. Plans and thoughts are also being formulated in order to progress the third phase of the restoration of the church building; the internal reordering. This is, as yet, in early stages. ## **Statement of Trustees responsibilities** Charity law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of its financial activities for that period. In preparing those financial statements the trustees have:- - selected suitable accounting policies and applied them consistently; - made judgements and estimates that are reasonable and prudent; - stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepared the financial statements on the going concern basis. Tony Hoskin Treasurer INDEPENDENT EXAMINEFfs REPORT TO THE PCC OF CHRIST CHURCH, ASHTON.UNOER-LYNE FOR THE YEAR ENDEO 31"DECEMBER 2023 This reP￿t on the financial statements of the PCC for the year ended 31¥1December 2023, is in respect of an examination carried out in accordance with the Church Accounting Regulallons 20061"Ihe Regulations'l and s.145 of the Charities Act 2011 1'The Act") Respectlve responslbilities of trusteos and examiner The charty's trustees are responslble for the preparation of the financlal stslemenls. The ¢harlVs trustees consider that an audit is not requlred for this year (under secllon 14412) of the Act), and that an Independent examination is needed. 11 is my responsibility to.. examlne the accounts lunder section 145 of the Act)., lo follow the procedures laid down In the General Diredions glven by the Charlty Commissioners (under section 14Sl5llb) of the Acll., and lo slate whether particular matters have come to my attention. B•sl8 of thls r•port My examlnalion was carrled out In accordance wllh G&n8ral Dirèctions given by the Charlty Commis8lon under 38cllon 145{51{b) of the Ad and lo be found in the Church guidance, 2006 edition. An examination indudes a review of the accounting records kept by the charlly and a comparl$on of the accounts presented wllh those records. 118180 include5 considerallon of any unusual items or disclosures in the accounts. and seeking explanations from th8 Iwslees conceining any such matters. The procedures undertaken do not provide all the evldence that would be requlred in an audit, and ¢on$equenUy I do not express an audll opinion on the accounts. Indopwnd•nl •xamln•r'• at*t•m•nt In the cours8 of my examlnallon, no matter ha8 com6 to my allenlion 1. whlch glves me reasonable caus6 to believe that, in any materSal respect, the Irusle88 h8v• not met the requirements to ensure Ihal.. Proper accounllng records are kept {Sn accordan¢e wlth section 130 of the Act}.. and accounts are prepared which agreo wllh the accounting ffjcords and comply wllh the accounllng requlremenls of the Act,. or 2. to whlch, In my oplnbn, attention should be drawn in order to enable a proper understanding oflhe accounts lo be reached. Slgned.. LLOfv John L-mlller Director JLM Accounting Ltd 1 Daisy Close Ashton-undeTrLyne Lancashirn OL7 9NZ Da¢o.' /J"/71& 6& %21