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2023-12-31-accounts

Trustees’ Annual Report and

Financial Statements

of the Parochial Church Council for the year ending 31 December 2023

Contents Page
Legal and administrative information 3
Council Membership 4
Trustees’ Annual Report 5
Aims and Purposes 5
Objectives and Activities 5
Achievements and Performance 5
Review of Financial Activities and Affairs 7
Structure, Governance and Management 8
Statement of Responsibilities of Members of the PCC 9
Independent Examiner’s report 10
Statement of Financial Activities 11
Balance Sheet 12
Notes to the Accounts 13

Legal and Administrative Information

Registered Charity number

1149564

Registered name

The Parochial Church Council of the Ecclesiastical Parish of All Saints’, Ascot Heath

Principal address

London Road Ascot Berkshire SL5 8DQ

Independent Examiner

Kim Swain MA (Oxon) FCA Radford & Sergeant Limited Building 3, Watchmoor Park Camberley Surrey GU15 3YL

Bankers

TSB Bank plc 160 High St Slough SL1 1JP

Council Membership

Members of the PCC are either ex-officio, elected by the Annual Parochial Church Meeting, or coopted by the PCC in accordance with Church Representation Rules.

During 2023 the following served as members of the PCC:

Rector: The Reverend Dr Darrell D Hannah
(Chairman)
Curate: Revd David Saunders
Deanery Synod The Reverend Dr Darrell D Hannah
Representatives & Caroline Kallipetis (APCM 2023 - APCM 2026)
ex-officio PCC members: Richard Hyslop (APCM 2023 - APCM 2026) (Lay Vice Chair of
PCC & Diocesan Lay Rep for Berkshire Area until 2024)
Churchwarden: Brian Bence (from APCM 2020 – re-elected annually)
Elected Members: Sheila Sparks, Secretary*
(APCM 2021 - APCM 2024)
(*Re-elected for third and final term)
Nick Rowsell - (1stterm)
(APCM 2021 - APCM 2024)
Simon Lagden – (2ndterm)
(APCM 2023 - APCM 2026)
Duncan Jones – (2ndterm)
(APCM 2023 - APCM 2026)
Jayne Strand – (1stterm)
(APCM 2023 - APCM 2026)
Matthew Caminer – (1stterm)
(APCM 2023 - APCM 2026)
Melanie Price – (1stterm)
(APCM 2023 - APCM 2026)
Co-opted Members: Caroline Marlow, Treasurer (From January 2023)

Deanery Synod members provide the PCC with an important link between the parish and the wider structures of the church.

Electoral Roll Officer – Cathy Christie

Trustees Annual Report for the year 2023

Aim and Purposes

All Saints’ Ascot Heath PCC has the responsibility of co-operating with the incumbent, Fr Darrell, in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical.

The PCC is also specifically responsible for the maintenance of All Saints’ Church, All Saints’ Hall, the Chapel of SS Mary and John, King Edward’s Hall and the clergy accommodation at The Parsonage in King Edward’s Road.

The PCC is required by law to produce an annual report of its activities together with a financial statement identifying how the activities of the parish have been funded.

Objectives and activities

The PCC is committed to enabling as many people as possible to worship at our church and chapel and to become part of our parish community at All Saints’. The PCC maintains an overview of worship throughout the parish and, in particular, with the Ministry Team we try to enable the congregation to live out their faith as part of our parish community through:

Attendance Statistics: 2023 2022 2021
Average Sunday attendance:*
Adults 87 91 91
Under 16 8 11 11

(*includes an estimate of the Zoom figures)

Electoral Roll – 183. April 2023, 7 were removed and none were added to the previous roll.

Achievements and Performance

The PCC meets six times during the year. Five of the meetings for 2023 were conducted via Zoom and one in-person meeting was held at King Edward’s Hall in July. Copies of minutes, once agreed, are put on the noticeboard at the Church and the Chapel and can be requested from the PCC Secretary.

Services during the year have all been as normal, i.e. 8.00 am Mass at All Saints, 9.00 am Mass with Hymns at the Chapel and 10.30 am Parish Mass at All Saints which has also been Zoomed every Sunday for those wishing to join virtually. At Christmas all services were held and well supported. Coronavirus Update continues to be an agenda item at each meeting and in March the PCC agreed to re-introduce kneeling for communion at the alter rail at the 10.30 am service as from the beginning of April.

Our annual Lent Lunches were held, and recipient charities included Parkinsons and New Beginnings Children’s Home.

A special Choral Evensong was held on Sunday 7[th] May to celebrate the coronation of King Charles III. This was followed by refreshments in All Saints Hall and 58 people attended.

In May a new PCC sub-committee entitled “Outreach Committee” was set up to look at ideas on how to grow the congregation. Ideas for consideration are:

During October the “Autumn Festival” – a series of five concerts - was held and the retiring collection was in aid of the Regeneration Fund. The sum of over £1,500.00 was raised at these events.

In November Mother Miriam decided not to renew her licence so came and preached her last sermon at the end of November. It was nice to see her in person and to give her our good wishes for the future together with a gift from the parish.

In December Mervyn Williams, Director of Music, left us to take up a new position at All Saints’ Marlow. Mervyn had been with us since 2016 and we said farewell to him at the Christmas Eve Services.

For health and safety reasons it was decided to trial battery operated tea lights for the Carols by Candlelight Service this year. The church still glowed and there were no adverse comments to the change, in fact any reactions were all positive.

Matters are still on-going regarding vehicular access to the lane leading to Priory Road Cemetery. The PCC has been extremely blessed that Michel Kallipetis KC, has been guiding us through this highly complex issue and liaising with the solicitors on our behalf. We thank him for all the time he has so generously given to this matter.

If you are over the age of 16 and have been on the Electoral Roll for at least six months, why not consider putting your name forward for election to the PCC. If you would like further information, please do not hesitate to contact Fr Darrell or any member of the PCC.

The PCC would like to take this opportunity to thank everyone who works so hard to make our church the lively and vibrant community it is.

Review of Financial Activities and Affairs 2023

In 2023, All Saints’ Ascot both income and expenditure increased compared with 2022. There was a net operating loss of £22,154 including depreciation but, when adjusted for the gain on our investments, there was a total deficit of £18,041.

Income

In 2023, total income was £191,002, compared with £170,242 in 2022. The main reason for the increase was a result of several generous contributions to both the Church Capital Project Fund and to cover costs of the resolution of the access issues to Priory Road Cemetery.

Expenditure

Total expenditure in 2023 was £213,156 compared to £172,828 in 2022.

This substantial increase was a consequence of these main issues:

Reserves

Net reserves amount to £800,045 and is analysed across funds in Note 13 to the accounts. Of these reserves, £30,191 was held in the TSB Bank current account, £97,513 in the CCLA deposit account and £456 in a Community Lunches account.

Reserves Policy

In 2022 the PCC agreed to maintain at least six months’ average expenditure in unrestricted reserves. Unrestricted reserves at the close of 2023 were £87,231. Unrestricted expenditure for 2024 is forecast to be £193,000. This represents around 5.4 months expenditure, so the reserves are close to the target set in the reserve policy.

Rector’s Discretionary Fund

The Rector holds unrestricted funds identified to be used at his discretion to help people in need of support. At the end of 2023, the allocated fund was £9,347. During 2023, 4 grants were made, totalling £742.

Other creditors

The PCC holds money in its main account for The Friends of All Saints (£2,759 at 31 December 2023). This is recorded on the balance sheet within Creditors. The Friends exists to allow former members of All Saints and others to keep in touch and continue to support the aims and mission of the church.

Structure, Governance and Management

The PCC is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC is a Registered Charity.

The method of appointment of PCC members is set out in the Church Representation Rules. At All Saints’ Ascot Heath the membership of the PCC consists of the Rector, the Curate, Churchwarden(s) and members elected by those members of the congregation who are on the Electoral Roll of the church. All those who attend our services/members of the congregation are encouraged to register on the Electoral Roll and stand for election to the PCC.

The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent.

The full PCC met six times during the year via Zoom and occasionally in person.

Statement of Responsibilities of Members of the PCC The Iruslees (members of the PCCI are responsible for preparing the PCC'S Annual Report and the financial slalements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Vvales requires the trustees lo prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resource5 of the ¢harity for that period. In preparing these financial statements, the trustees are required lo.. select suitable accounting policies and then apply them consistently., observe the methods and principles in thè Charities SORP., make judgements and estimates that are reasonable and prudent". slate whether applicable accounting standards have been followed, subject lo any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Iruslees are ￿spOnSible for keeping proper aecounling records that disclose with reasonable accuracy at any time the financial position of the charity and enable them lo ensure that the financial ststements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2￿8 and the provisions of Church Accounb'ng Regulations 2006. They are also rest)onsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. On behalf of Members ofthe PCC". R•vd Dr Darrèll D Hann•h Date.. 21 March 2024

ALL SAINTS, ASCOT HEATH PAROCHIAL CHURCH COUNCIL Independont Exarninerfs Report to the Trustees of All Salnts, Church. Ascot Heath I report on the accounts of the church for the year ended 31 December 2023 which are set out on page5 1110 21. Respective Respon81bllltles of Trustees and Examiner The church's trustees are resrxinsible for the preparation of the accounts. The Church's trus189s consider that an audit is not required for this year under section 144121 of the Charities Act 2011 (the Charities Actl and that an independent examination is needed. It is my responsibility lo.. Examine the accounts (under section 145 of the Charrties Act)., To follow the procedures laid down in the General Direcbons given by the Charity Commissioners {under section 145151{bl of the Charities Act).. and To slate whether particular matters have come lo my attention. Basis of Independent Exarningrfs report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination in¢lu<les a review of the accounting records kept by the charity and a comparison of (he accounts presented with those records. 11 also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not prgvide all the evidence that would be required in an audit and consequently no opinion 15 given as to whether the accounts present a 'lrue and fair view, and the report is limited lo those matters sel out in the statement below. Indepgndenl examlner's staternent Since the gross income for the year exceeds the amount provided in section 145131 of the Charities Act, I confim that l am qualified to act as Independent Examiner under the provisions of that section of the Charities A¢t and that rny qualification is as Shown below. In connection with my examination, no matter has come to my attention.. which gives me reasonable cause lo believe that in any material respect the requirements to keep accountin9 records in ac¢ordance with section 130 of the Charities Act," and to prepare accounts which accord with the accounting records and comply with the accounting quirernenls of the Act have not been mel,. or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Kim Swain MA (Oxonl FCA Radford & Sergeant Limited Building 3 Watchmoor Park Cambedey Surrey GU153YL 25 March 2024 10-

ALL SAINTS, ASCOT HEATH PAROCHIAL CHURCH COUNCIL STATEMENT OF FINANCIAL ACTIVITIES For the year ending 31 December 2023 Unrestricted Restricted Endowment TOTAL TOTAL funds funds funds 2023 2022 Note INCOME Voluntary income Income from investments Church activities 21al 21bl 21c) 21dl 112,406 15,866 128.272 113.730 4.978 2,897 3,872 48,373 1.106 48,373 44,252 Other trading acbvities TOTAL INCOME EXPENDITURE Cost of generalir¢g funds Church activities 734 734 372 205 690 212 422 172456 TOTAL EXPENDITURE NET ILOSSIISURPLUS BEFORE INVESTMENT GAINS 132,3941 10,240 {22.1 $41 (2.5861 NET GAINSIILOSS) ON INVESTMENTS 633 NET {LOSSIISURPLUS AND MOVEMENT IN FUNDS 131,7611 10,240 3,480 {18.0411 {9,227) TRANSFERS BE￿EN FUNDS 267 12671 TOTAL FUNDS BROUGHT FORWARD 37 491 36 984 818 086 827 313 TOTAL FUNDS CARRIED FORWARD 11

ALL SAINTS, ASCOT HEATH PAROCHIAL CHURCH COUNCIL BALANCE SHEET AT 31 DECEMBER 2023 2023 2022 Notes FIXED ASSETS Tangible Investments 635,071 640,697 687,652 688,907 CURRENT ASSETS Debtors and prepayments Cash al bank and in hand 8,163 7.864 128 160 140 559 136,323 148,423 LIABILITIES Creditors- amounts falling due wrthin one year 10 23 9301 119 2441 NET CURRENT ASSETS 112393 TOTAL NET ASSETS PARISH FUNDS Unrestricted 712,117 47,464 40 464 743,611 37,491 36 984 Restricted 11 Endowment 12 Approved by the PCC on 20 March 2024 and signed on ils behalf by: Revd Dr Darrell D Hannah PCC Chair 12-

ALL SAINTS’ ASCOT HEATH PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2023

1. ACCOUNTING POLICIES

1.1 Basis of preparation

All Saints’ Church, Ascot Heath Parochial Church Council (“The PCC”) is a public benefit entity within the meaning of FRS102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, and with the Regulations’ “true and fair view” provisions and the Charities SORP (FRS102).

1.2 Income recognition

Open plate collections are recognised when received by or on behalf of the PCC. Planned giving under Gift Aid is recognised when received and the associated recoverable income tax is recognised when the income is recognised. All other donations and receipts for church activities are recognised when received.

Income from investments is recognised when receivable.

1.3 Expenditure recognition

Parish share is recorded when payable. All other expenditure, including mission giving, is recorded when paid.

1.4 ASSETS

1.4.1 Consecrated and benefice property

In so far as consecrated and benefice property of any kind is excluded from the statutory definition of ‘charity’ by Section 10(2)(a) and (c) of the Charities Act 2011, such assets are not capitalised in the financial statements.

1.4.2 Moveable church furnishings

Moveable church furnishings held by the Vicar and Church Wardens on special trust for the PCC, and which require a faculty for disposal, are accounted for as inalienable property unless consecrated. They are listed in the Church’s inventory that can be inspected (at any reasonable time). For inalienable property acquired prior to 2000, such assets are not included in the accounts. Items acquired since 1 January 2000 have been capitalised at cost and depreciated over their useful economic life.

All expenditure incurred on consecrated or beneficed buildings or on the repair of moveable church furnishings acquired before 1 January 2000 is written off as expenditure in the year.

1.4.3 Tangible fixed assets

These are capitalised if they can be used for more than one year and cost at least £500. They are stated at cost.

Depreciation is calculated to write off the capitalised cost of fixed assets less their currently anticipated residual fair value over their estimated useful lives as follows:

ALL SAINTS’ ASCOT HEATH PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2023 (continued)

An impairment review is carried out at each year end and any resultant loss identified included in expenditure for the year.

1.4.4 Investments

Investments in securities held with CCLA and ODBF are valued at market value as advised by those institutions.

1.4.5 Stock

No account has been taken of any stocks of books, magazines or other materials held at the balance sheet date and all expenditure is written off as incurred.

1.4.6 Pensions

The PCC operates a defined contribution pension scheme. Contributions are charged in the accounts as they become payable in accordance with the rules of the scheme.

1.5 FUNDS

1.5.1 Unrestricted Funds

These represent the remaining income funds of the PCC that are available for spending on the general purposes of the PCC, including amounts designated by the PCC for fixed assets for its own use or for spending on a future project.

1.5.2 Restricted Funds

These are income funds that must be spent on restricted purposes and details of the funds held and restrictions provided are shown in the notes to the accounts.

1.5.3 Endowment Funds

These represent capital funds in perpetuity which may not be spent. Income arising is spent for the purposes under which the endowments were made.

ALL SAINTS’ ASCOT HEATH PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2023 (continued)

2. INCOME
Unrestricted
Restricted Endowment
funds
funds
funds
£
£
£
2(a) Voluntary income
Planned giving: Gift Aid donations
71,944
8,500
-
Tax recoverable
17,304
2,125
-
Other
17,152
5,241
-
Collections: (open plate)
6,006
-
-
Grants
-
-
-
112,406
15,866
-
2(b) Income from investments
Dividends
258
-
1,106
Bank interest
3,614
-
-
3,872
-
1,106
2(c) Income from church activities
Fees for occasional services
4,829
-
-
Church and Parish Room lettings
42,234
-
-
Parish-wide events
708
-
-
Other
602
-
-
48,373
-
-
2(d) Income from other trading activities
Ascot Week
9,379
-
-
9,379
-
-		 TOTAL
2023
£
80,444
19,429
22,393
6,006
-
128,272
1,364
3,614
4,978
4,829
42,234
708
602
48,373
9,379
9,379		 TOTAL
2023
£
80,444
19,429
22,393
6,006
-
128,272
1,364
3,614
4,978
4,829
42,234
708
602
48,373
9,379
9,379		 TOTAL
2022
£
71,924
18,085
18,589
1,419
3,713		 TOTAL
2022
£
71,924
18,085
18,589
1,419
3,713		 TOTAL
2022
£
71,924
18,085
18,589
1,419
3,713
113,730


1,417
1,480
2,897
6,516
37,218
518
-
1,417
1,480
2,897
44,252

9,363
9,363

ALL SAINTS’ ASCOT HEATH PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2023 (continued)

3. EXPENDITURE

Unrestricted
Restricted Endowment
funds
funds
funds
£
£
Notes
Church activities
Mission and charitable giving
10,727
-
-
Diocesan parish share
87,281
-
-
Staff employment costs
4
11,013
-
-
Church maintenance
3,251
-
1,106
Churchyard upkeep
-
-
-
Occasional service fees paid to Diocese
-
-
-
Choir/music
1,871
-
-
Church supplies
1,175
-
-
Utilities
9,598
-
-
Church hall – ASH
16,434
-
-
Church hall – KEH
13,827
-
-
Parsonage
3,032
-
-
Insurance
5,310
-
-
Flowers
-
-
-
Clergy expenses
2,439
-
-
Social events
-
-
-
Legal fees
1,459
-
-
Memorials
1,443
-
-
Organist
4
8,615
-
-
Independent examiner’s fees
2,760
-
-
Accountancy fees
9,452
-
-
Defibrillator
1,897
-
-
Office and administration
14,106
-
-
Depreciation
-
5,626
-

205,664
5,626
1,106		 TOTAL
2023
£
10,727
87,281
11,013
4,357
-
-
1,871
1,175
9,598
16,434
13,827
3,032
5,310
-
2,439
-
1,459
1,443
8,615
2,760
9,452
1,897
14,106
5,626
212,422		 TOTAL
2022
£
11,400
83,417
11,393
2,183
1,865
70
2,348
1,210
4,417
7,747
6,220
4,363
4,765
18
3,253
600
-
315
7,891
2,400
4,391
1,840
4,723
5,627
172,456

ALL SAINTS’ ASCOT HEATH PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2023 (continued)

4. STAFF

The Parish Administrator’s and Organist’s gross salary costs are shown in Note 3.

The Parish Administrator is enrolled in the People’s Pension Scheme.

No benefits in kind were paid.

5. MEMBERS OF THE PCC

No member of the PCC (or any persons connected with them) received any remuneration or benefits during the year in respect of their membership of the PCC. Certain expenses incurred on behalf of the PCC were reimbursed.

The Rector was reimbursed for expenses amounting to £2,439 (2022: £3,523).

6. TANGIBLE FIXED ASSETS

Fixtures,
Plant and
Land and
Fittings and
Equipment
Buildings
equipment
£
£
£
Cost or valuation
At 1 January 2023
11,862
612,769
26,607
Additions
-
-
-
Disposals
-
-
-
At 31 December 2023
11,862
612,769
26,607
Depreciation
At 1 January 2023
5,931
-
4,610
Charge for the year
2,966
-
2,660
Written back on disposals
-
-
-
At 31 December 2023
8,897
-
7,270
Net book value
At 31 December 2023
2,965
612,769
19,337
At 31 December 2022
5,931
612,769
21,997		 Total
£
651,238
-
-
651,238
10,541
5,626
-
16,167
635,071
640,697

Land and buildings comprise King Edward’s Hall (freehold), The Chapel of Saint Mary and Saint John (freehold), All Saints’ Church Hall (leasehold) and The Parsonage (freehold).

ALL SAINTS’ ASCOT HEATH PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2023 (continued)

7. Investments

CCLA – Fixed Interest Securities Fund
Number of shares
At 1 January
Dividends reinvested
At 31 December
Market value
Endowment funds (Note 12)
Total investments
8.
Debtors and prepayments
Income tax recoverable
Debtors
9.
Cash at bank and in hand
TSB Bank plc – current account
Community lunches account
CCLA Deposit Account		 2023
8,188.52
182.69
8,371.21
£
12,117
40,464
52,581
2023
£
5,796
2,367
8,163
2023
£
30,190
457
97,513
128,160		 2022
7,967.13
221.39
8,188.52
£
11,226
36,984
48,210
2022
£
7,500
364
7,864
2022
£
26,541
-
114,018
140,559

ALL SAINTS’ ASCOT HEATH PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2023 (continued)

10. Creditors: amounts falling due within one year

Accruals
Friends of All Saints
Other creditors		 2023
£
14,438
2,759
6,733
23,930		 2022
£
13,800
2,644
2,800
19,244

11. Restricted funds

The income funds of the charity include restricted funds comprising the following donations and grants held on trust for specific purposes as listed below:

Balance at 1 Transfer to Balance at 31
January 2023 Income Expenditure Unrestricted December 2023
Youth 1,616 - - - 1,616
Eco/Future development 21,997 - (2,661) - 19,336
2014 717 - - - 717
Organ refurbishment 5,948 - - - 5,948
Church capital projects - 15,866 - - 15,866
Church and Churchyard 519 - - - 519
Flowers 267 - - (267) -
Messy Church 496 - - - 496
Camera System 5,931 - (2,965) - 2,966
37,491 15,866 (5,626) (267) 47,464

ALL SAINTS’ ASCOT HEATH PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2023 (continued)

12. Endowment funds

Blake Trust
Lucas Legacy
Paterson, Barnett, Clarke (Ascot Heath Trusts)
General May Trust
Weigall Trust		 2023
£
1,198
2,532
14,038
3,120
19,576
40,464		 2022
£
1,095
2,314
12,831
2,851
17,893
36,984

The capital of these endowment funds is perpetual and cannot be spent. The capital is invested in CBF investment funds under the custody of the Oxford Diocesan Board of Finance.

Income arising from these funds is allocated as follows:

Blake Trust – for the upkeep of the church and churchyard so long as certain graves are maintained.

Lucas Legacy – for the maintenance and improvement of the church fabric.

Paterson, Barnett, Clarke (Ascot Heath Trusts) – 15/37ths for the maintenance of the churchyard, 10/37ths f or maintenance of Ascot Heath CE School, 10/37ths for school managers for school prizes, 2/37ths for annual school prize.

General May Trust – for the upkeep of the church and churchyard as long as the grave of the Rev. Marrow is maintained.

Weigall Trust - for the upkeep of the church and churchyard as long as the grave of the Weigall family is maintained.

13. Analysis of net assets between funds

Unrestricted
Restricted Endowment
funds
funds
funds
£
£
£
Fund balances at 31 December 2023 are represented by:
Tangible fixed assets
612,769
22,302
-
Investments
12,117
-
40,464
Current assets
111,161
25,162
Creditors: amounts falling due within one year
(23,930)
-
-
712,117
47,464
40,464
 Total
£
635,071
52,581
136,323
(23,930)
800,045

ALL SAINTS’ ASCOT HEATH PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2023 (continued)

14. Financial commitments

In January 2024 the PCC approved a forecast for income and expenditure for 2024 with a £16,000 deficit. Parishioners using the PGS scheme who approved the indexing of payments will see an increase of 6.7% in their donations. Additional income streams will be sought especially by encouraging new members. The forecast includes a commitment to give £8,200 to mission organisations.

In February 2024 it was announced that our curate, David Saunders, has been appointed to a permanent post in Cornwall and is likely to be moving at the end of June. This has implications for rental income from the Parsonage and reduced expenses. None of these factors have been included in the forecast for 2024, but clearly represent as opportunity to lower the forecast deficit.

The Parish has major work to undertake on the church building to secure the future for the building.

There are two active projects - the first is to replace the tungsten lighting system with a modern LED based system which will reduce the running costs, improve maintainability and the brightness of the interior. This project is likely to cost up to £60,000 plus VAT including the external lighting. A full faculty has been submitted to the diocese and a response is expected in 2024. VAT will be recoverable through the listed building scheme.

The second project is to ensure the integrity of the brickwork which is deteriorating because the top layer of mortar is breaking down. There are other areas where water has penetrated into the buttresses causing movement of the brickwork. This project is expected to cost around £330,000 plus VAT.

Funding raising has started for these two major capital projects and total raised so far is listed under Church Capital Projects Restricted Fund.