THE PAROCHIAL CHURCH COUNCIL OF THE FOREST HILL TEAM MINISTRY ST GEORGE FOREST HILL WITH ST MICHAEL & ALL ANGELS LOWER SYDENHAM Chari Commlsslon R istration Number 1150868 EINANGIALSTATEMENTS FQR THE YEAR ENDED 31ST DECEMBER 2Q23 CONTENTS p1 The PCC of Si Georg8, F¢xest Hill wth St Micha81 & All kngels. Lower Sydonham Treasurers Report p2-p3 The PCC of St Gwè, Forost Hill wrth Sl Mtha81 & All Anpls, Lowér Sydenham Receipts and Payments AecLiunts for All Fur¥JB Statement of Assets and Liabilities Indopendenl Examinors Report ps - p10 St George Parish Churth - Finarrial Statements p11 Independent Examinws Report- St Gaofge. Forest Hill p12 - pls Sl Michael & All Aryo18 Parish Churth- Fin8r£ial Stg18m8nls p16 IrMl8pendenl Examiners Report - Sl Michaol & All Ang819, Lower Sydenham Not•• 1 The financial siaièmenis of the PCC have prOpa￿d In accordancè wrth the Churth Accounting R8gulation8 2￿6 using th8 Recoipts an(1 Payments basis. 2 Thè parish of Sl George, Forest Hill wrth Si Mthael & All Angols, L(yw8r Sydenham way crèated on 25th January 2012 from the union of Pèry Hill Si Georp wrth Christ Churth & St Paul an¢J L¢￿eT Sydenham Sl Mithael & All Angels 3 The parish of Sl Georg8, Forést Hill with Si Mithaol & All Ango1$. L￿er Sydénhgm has one PCC and parish chur¢he8. The acrnunls has delaiknl financial information for each of Sl Goorgo9 And St Mich￿1 & All Ang•l• whth w u••d to create the ovorall Summary Sign¢¢ on 2 Richard Lane, Team Rector P8rothial Church Courril of th& Forest Hill Team Ministy Isi George. Fore l Hill wrth l Michagl & Al Is. Lower Sydenham) Simon T8 Treasurer Parochial Churth C(NJncil of Ihe F(Ke5t Hill Team Ministry THE PAROCHIAL CHURCH COUNCIL OF THE FOREST HILL TEAM MINISTRY: ST GEORGE, FOREST HILL WITH ST MICHAEL & ALL ANGELS, LOWER SYDENHAM: Charity Commission Registration Number: 1150868 TREASURER'S REPORT 2023 Introduction The Forest Hill Team Ministry incorporates the parish Churc1￿ of Forest Hill, St George and Saint Michael and All Angels, Lower Sydenham, iogether with Christ Church Chapel (which is indud&J In the St George ac£ounis). The ac(x)unts show.. the 0￿ra11 financial p08ition for the parish. together with the financial statements for.. the parish churthes of St George, St Michad and All Angels. All accounts have been prepared on Receipts and P8ymenls basis. For•st Hlll. St Georgo wlth St Mkhaol & All Ang•l8, Lo￿r Sydenham The overall assets foi the Team Ministry at end 2023 stood at £83,3118 sizeable decrease compared to assets at end 2022 of £110,615. This is made up of.. 31.12.2023 £46,914 £36.397 31.12.2022 £55,838 £54,777 St Geor St Michael & All An 818 Total £83,311 £110.615 2023 was another very drfficutt year. for both parish churches in the Team Ministry mainly due lo the very 8ub8t8nti81 incraa8e in energy cost8 and hire income i88ue8. St George's srtuation was exacerbated by the anchor tenant Spectrum Montessori's bankruptcy in earfy 2023.. to as%st St George's the Dicthse halved quota payments for 4 months (to be repaid over Iwo years) Fortunately, Sl Georges has trwo new major hirers Inursenésl.. at the Chapel {from September 20231 and St Georges (from January 20241. Nevetheless, there was 8 &'gnificant loss in 2023. ￿th0￿h reserves were maintained. St Michaels w88 especially impacted by the high energy costs as thelr church building date8 from the 1950.3 and is eXPen￿ve to heat. They did not gain any major new hi￿ rs in 2023 and had sorro problems in arrears from other lenanls. As a resutl Sl Michael's Juffered a ddngeiou51y large ioss In 2023,. this Is not sustainat4e as a continuatson risk8 using up the bank account and reserves over the next three to five years. Income from the tsJngreg*'on in both church88 held up well refiecting the generosity of the tsvo congregations. Looking to 2024, for St George's there is a nv)re positive outlook, provided the new nurseries Gan operale throughout 2024 - this gives scope to start strengthening the finanaal pogtion. For St Michael's. there is an urgent need to find anchor tenanus {a Montesson nursery left some years ago). or to find a substantial reduction in costs- 8cknowledging that en8rgy pnces are likely to rem8in high compared to 2022. P1 PCC OF FIREST HILL TEAM MINISTRY FOREST HILL, ST GEORGE WITh ST MICHAEL & ALL ANGELS. LOWER SYDENHAM General Iunrestriclodl Funds - Recelpts & Paymonts Account Rocelpt8 2023 2022 Voluntary R￿lpt$ St Geofge Voluntary Roeeipls St M¢chael 60.329 15.273 75,602 74.795 13.538 88,333 Church Activities St George Church Activrties Sl Michael 7,435 623 4,711 206 4,917 Other Activit188 Si Ggorge Other Aetivilies St Miehaal 82.543 35,485 118,028 63.938 38,123 102,LE1 Tol81 Rec8ipt8 201.688 195,311 Paym•nt8 Quot8 St G80rg8 Quota St Mbchagl 61,375 26.3￿1 87.725 73,150 25,850 Church ActiVrt￿s St Georgo Churcft Aetivili•$ Sl Mthael 70,071 27.11S 97,1 52,361 15,612 67,973 Othèr Activities Sl George Other Activities 81 MiGh881 20.122 16.297 36.419 12,251 15,640 27,891 Total Payments 221.330 194,864 Excess ￿1p1S over paymant$ Bank accounts at 1 January Transfers lo Designated Funds (nel c1088 Tran$w1 FLKKI) Bank a¢￿unt8 at 31 Decembèr -19,642 65,475 3,9 41.877 447 70,028 65,475 Unr•strlct•d D•slgnatsd Fund• - R•cdpts & Paynwts Account Roc•lpts Si Geor Sl Mi¢hael 1.883 Payments St Georgè St Michaèl 19,424 9.545 19,424 Exc95s receipts over paymenlg Bank accounts at 1 January Transfer from General Fund Inel clos• Tran8POrt FuThYI Bank accounts al 31 D8c8mb8r -19.424 26.8 12.432 3,956 12.432 P2 PCC OF FOREST HILL, ST GEORGE WITH ST MICHAEL & ALL ANGELS. LOWER SYDENHAM Restrl¢t•d Fund8- Roc•ipts & Paym•nts Account 2023 2022 Rècelpts Sl George Sl Michael Payments Sl Georg8 St Michael Excess receipts over payments Bank accoun18 811 J8nu8ry Transfer from General Fund Bank aGwunl¥ at 31 DerAmber 32,708 32.708 32.708 Stat•mont of As80ts and Llabllltl•s 2023 2022 Cash Fund¥ St G•org• Cufrgnl Account Business Savings Account 16.312 30,602 46,914 55,838 55,838 St Ml¢ha•l & All Ang•l• Church of England Depo3rt Fun Currént bank a¢¢ounts C8sh in H8nd To181 bank and cash balanc88 32,270 4,127 31 268 23,509 36,397 54,777 Total B•nk Accounts 83,311 110,615 Mado Up AS Follow8 St C￿￿• General Iunreslricledl Fund Designated Fund5 Reslricteo Funds 35,479 8.726 2.709 46,914 40,697 12.432 2.709 S5.838 St Ml¢ha•l & All Ang￿• Gengr81 Fund Restricted Fund Churth 8uilding Repair 6.397 24.777 36.397 54,777 Total 83.311 110,615 P3 RT F THE INDEPENDENT EXAMINER TO THE PAROCHIAL CHURCH COUNCIL OF T GEORGE F RE T HILL WITH ST MICHAEL & ALL ANGELS LOWER SYDENHAM NANCIA TATEMENT R THE YEAR ENDE DECEMBER 2 I rèport on the accoun18 for th• y•ai •nd8d 31st D￿l￿b￿r 2023 wthich are set out on pages 1 to 19. Respfrctlve ResponslblllJè¥ ol th• Trustges and thg Indepgnd•nt examlnof The charrty's trustees consider that an audit is not required for this year under section 144121 ol tho Chanb'o8 Act 2011 (tho 2011 Act} and that an ind8p8nd8nd8nt examinth'on is roquirod. 11 1$ my r•$ponsibility 10. al examine the accounts undef section 145 of the 207 1 Acl". bl 1011ow Ihe pr¢)cedures laid down in the General Diredon3 glvèn by tho Charlty Commlssloner section 1451Sllbl of the 2011 Act", and cl stat$ wh$th*r parttcula¥ maiters havo (xjmg ¢0 rny attgntion. Ba#1• ol Ind•p•nd•nt ex*mln•rfs SL*t•m•nt My examinallon wa5 carried out in aCc￿d￿r￿ with the General Direction¥ given by the Charrty Commi88ion An 8x8minalion indud88 indudo5 8 r8viww of the S￿x￿1￿11￿g r8(xTrrd8 k8Pt by th eharity and a compartson of the a￿Unts presented wlth those fecords. It also Indudes con5iderats.on of any unusual items or disclosures in the accounts. and seeking explanation5 from the management committee concerning any Such matters. The procedure5 undertaken do not provide all the evi¢Jence woiild be r8quir8d in a lull audit, And con88qU8nlly I do nol •xpr888 an 8udil opinion on the a￿oun18. Ind•p•nd•nt Ex4min•f• Stst•m•nt In conn8¢Uon wllh my examln8Jon, no matters have rJ)me lo my attenkn.. which give me rèasonabl8 caiis8 lo b81i8v8 that in any malerial respecl th8 requirements aj lo kègp accounting r8coids in accordanco vAlh $.130 01 me 2011 Act.. or bl lo prepare accounts vthich occord ￿th thege accounts.ng retsyd8 have nol b8en met. or 2. to which, in my opinion, att•ntion $lb)uld ￿ drawn in lo ¥nable a proper understandlng ol Ihe accountslo be reached. P81gr Siubbs Treasurer St 8artholomew's Chur Sydenham ,(2y P4 THE PAROCHIAL CHURCH COUNCIL OF THE FOREST HILL TEAM MINISTRY: Parish Church of St George, Forest Hill - Treasurer Roport 2023 Funds- The PCC has identified funds as follows Unrestricted Funds- PCC General Purposes Fund Designat8d Funds- Building Maintenance Fund Restncted Funds- The Bia Eveni- 1 day event for four church schools Year 6 Sl George suffered three major protdems in 2023.. a doubling of utility costs caused mainly by much higher elec#firAty and g88 C08t8'. the loss of the long9tanding anchor tenant Spectrum Monlesson'$ in 8arfy 2023.. this followed Montessori withdr￿Ing from the Chapel in 2021; sub81antia expenditure at the Chapel to make it more juitat￿¢ for new hirers. The above problems were somewhat offset by: the Diocese halvin9 our Parish Pledge payments for 4 nK)nths {to be repaid over trwo years)., some ex-users of montess(￿ using the Studio Hall as a nur88ry Imollyhouse)., new major hirers (nurseries) being found for both the Chapel {Little Village Nursery, who started September 2023) and Sl Georges Hall (Littl8 Legs Nursery fully starting January 20241. other h811 income showng actiwty gimng from the congregation incfeasing Sligh￿Y, desprte some protAems with Standing Orders due to the church t*anging its bank account The net result is that St George's saw a loss of £8.924 reduang the balance sheet to £46,914. eneral Fund Receipts in 2023 increased lo £150,3cK8 (2022 - £143.444). Voluntary giwng increased except for donations (in 2022 there were large donations lor the new sound system). Income from Church events increased wth Iwo successful fairs. There was an overall increase in hire income, with Montesson income dropyng away, but offset by income from oth8r St Georoe hifÈrs. e¥-Monteg90ri par•nls IMollyhou8el and inrtial income from Lrttle Legs Nurgery Ther• was an increase in income from other Chapel hirers and Littlé Village Nursery started full rental from September. Di￿& gimng {exduding Grfl Aid redaiml from the congregation increased to £45,307 from £42.000.. donations were much lower 81 £4.341 (2022 - £19,588, which induded donations for the new sound system).. Gift Aid rewvered in 2023 was £10,682 comparehj lo £10,751 in 2022 (which was raised by the Grft Aid daimed on ihe sourKI system donalionsl.. Little Legs Nursery paid initial set-up hire of £6,800. Their full opening was delayed by a late OFSTED insp￿￿10n. Ex Montessori parents contributed £ £14,485 as rental for a temporary nursery in the Studio Hall., Other letting income at the St George Church Hall increased to £27,893 {2022 - £22,082). this induded a rental on Sunday by an independent church., Chapel income b8n8frtted from the rental of the new Little Village Nursery from September, contributing £12,800. Rental from other Chapel users stood at £18,463 (2022- £14,117). P5 The St Georges Soo"al Team held successful Summer and Christmas Fairs, vAth income raised £5.041 {2022 - £2.158). A further improvement is exFeded in 2024. Our bank account was moved from National weSt￿n$ter Bank to Unity Trust Bank plc. This provides an improved bankn'ng service wth on-line funth'onality; its also offers a savings account, wilh £602 inlerest income in 2023. Payments in 2023 were substanlially up. standing at £151.56812022- £137.762) mainly due to sharply increased energy CA)Sts plus cost ol uF Water £2,024 (£117) St Michaels energy grarrt £1.056 Chapel costs of £19.731 were much higher than 20221£11.7171 ￿lItt substantial expenditure on moking the Chapel more hire8ble- upgr8ding the kitchen. electric81 work and fenong. Bank charge8 roduced to £39198 Unity Bank ha8 lower chary8. Over811 there was a nominal defiot of £1,262 on the General Account in 2023 before m0ver￿n18 from Tran8POrt Fund and Building Maintenance FurKI. Buildin Maintenance F nd l Trans rt Fund maintenan￿ expendilure was lower in 2023 at £9,545, as the 2023 figure of £19,424 inducled the new sound system. In 2023 Ihe main expenditure were on rer18￿rnent speakers after the onoinals were accidentally removed,. the speakers cost £2,208, though we did daim £1,883 from insurance. The remaining expenditure was a mix of boiler maintenance, electricals and kntchen work (Ind￿11n9 new tea um and fridge). The Tran8POrt Fund was dosed and £1.044 transferred lo the General Fund. Restn dFun The Ye8r 6 8ig Event was not hdd in 2023 so no costs ¥￿8 incurred. Slatement of Assels and Liat4lities Expenditure was £8.924 higher than incon￿. le&*ing to a sharp decrease in assets to £46,91412022- £55.838) This is made up of the General Fund - £35,479,. DeS￿nated Fund - Building Mainienance - £8,726", and Restricted Fund for the Year 6 Big Event of £2,709. Pensions St George's Church employs an AdmiThstrator (who al80 SUPPOrt8 St Michae18). The current Administrator partiQP8te8 in the Panson Builder 2014 Scheme section of Church Workers Pension Fund ICVTrF) for lay staff. CVVPF 18 adnNnistered by the Church of England Pen￿on5 Board. A valuation of the Pen&on Builder 2014 Scheme 15 carried out On￿ every three years. The most recent valuation was camed out as at 31 December 2019 and indicated 8 surplus of E5.5m. The next valuation is due as at 31 DeCem￿r 2022. Calcu18tion8 for this are currently under way, OutlTr)k lor 2024 The last few years have been very difficult for St Georges as rt has fawl the cessation of Montesson at first lh8 Chapel and th6n St G80rges Hall.. very sharply increased energy costs., and Ihe impact of the Cowd pandemic. As a result bank balances that at 2019 stotsj at £76.681 has reduced to £48,914. There is a more positive OLrtlook in 2024, provided the two new nurseri￿ Can operate successfully throughout the ye8r- this will generate substantially increased income. Some comfort can 8180 be taken from Ihe fad that there were other major hirers inlerested in using St Georges Hall. However, St Georges will need to repay the reduclion of 4 months Pan'sh Share and it g••mi likoly that onorgy co8t8 ￿11 remain high. We will review progress around June 88 to whether w8 ar8 increasing incorr suffiaently. P7 ST GEORGE. FOREST HILL: Gonttal 1Unrnstrict￿ Fund) - Recelpts & Payments Ac¢ount Ro¢0iPt8 Voluntary Re¢•ipt8 Planned Giving - Gift Aid Gfft Airj - Inc4)me Tax r8c8ivad Planned Giving - non Grft Coll(*Ciions 81 services Contactless and online giving Donation8 2023 2022 31,939 10,682 7.143 5.137 30,726 13,240 3,241 1.395 19.556 74,795 4,341 80.329 Church Actlvltl•s Fundraising 5,041 2.394 7.435 2,158 2,553 4,711 Oth•r ActiYitl•• Sl George Hall - Lrtllo Leg8 Nur80ry l Mont089ori Sl George Hall - Other Lettings St Georg8 Studio Hall - Mollyhouse Coop Cha￿1 - Little Village Nursery i Mon18SSOfi Ch8poI income 23,183 22,082 27,893 14,485 12,800 18.463 81.941 2,1CQ 14,117 61.482 SDBE Gront Interest 2.456 Total R•c•lpts 1503( 143,444 Payrn•nt• Diocesan quota 61,375 73.150 P•ym•nts for Church Acllvltl Ministry Teem cost$ Adminislrator Services and mu8iC Stationery I Printing Inlem81 I website F808 lo SDBE Cleaning 1,489 13,921 4,771 2,2Crf) 361 778 10,620 10,913 3.183 2CQ 3.925 52.361 15,594 6.179 2,077 351 937 12,092 22,991 3.501 76 3,825 70.071 Insuranc• Cost of Fundraising Charitable giving othor Paym•nl• Chap81 running eo•l¥ Bank charges 19,731 391 20,122 11.717 534 12.251 Total Paym8nt• 151, 137,762 Excess of Receiplg ov•r Payments Bank account8 al 1 January Transfer from Transport Fund Transfers lo Maintenance Bank accounts at 31 December 5.682 40,697 40,015 35.479 40.697 P8 ST GEORGE, FOREST HILL: Unrestrict•d Doslonated Fund Bulldlng Malntenance Accounl 2023 2022 Insurance Claim Total Incoming 1.883 Payments Sound systèm I spaakars Firg extinguishefs and alarms maint8nanc• Lrt servicing Electrical work Gas Boiler Servicing Ezyguid8 Hall Doors Toilet I water repairs Kitchen Glass Hall Floor 2,208 528 185 1,299 2,520 13.ogo 389 963 1,874 576 1.101 Total Payment• 9,545 19,424 Exe••• of R•c•lpt• ov•r P•ym•nl• -19,424 Bank acGounl$ a11 J8nu&ry Transfer from G8n&ral Fund Bank accounts at 31 December 11,388 25,812 8,726 11,388 Transport Fund Bank accounts at 1 January Transfer lo General Fund B8nk Accounly a131 Dec8mb8r 1.044 1,044 Total Designalod Funds 1 January r￿al D¢$ignalod Fund¥ 31 08¢ember 12,432 8.726 26,856 12,432 R••trlcted Fund• 2023 2022 The 81g Event Incoming - cheques from gchoo18 1 grant Outgoing - costs Exc••• of Rgcelpts over Paymonts Bank accounts 811 January Bank accounts a131 DKemt)er -558 3,267 2.709 2.709 2,709 P9 ST GEORGE. FOREST HILL: Stat•mont of A8set8 and LIabiliti￿ 1£) 2023 2022 Ca8h Funds Unlty Trust Bank plc Current Account Instant Accoss Saving4 Act￿In• 16,312 55.190 46.914 55,838 Made Up of.. G8n8r81 Fund 08signated Fund - Maintenance D88ign81od Fund - Transport Restricted Fund - thé Bio Event Balancing Item 35,479 8,726 40,697 11.388 2.709 2,709 46.914 P10 Report by the Independent Examiner on the accounts for Forest Hill. St George 2023 The level ol"receipts and paymenls (Ixin8 less than £250,000), and the size of the balance sheel, confirm ihal the PCC require an examinalion raiher than a full audil. My examinalion has covered the accounts for St George. The accounts lor St Michael and All Angels are examined separaiel),. An undLf51anding of the PCC'S organisalion. accounting records. activities and naturc of its assets, liabilitics, incomc, and ¢xp¢nditure was gaincd from a survey of the accounting records and discussions with ihe treasurer. No major failures werc identified in ihe accounting records. An analytical review of the financial slalemenis was carried oul to look for inconsistencies and unusual Lvenls in thc ycar and compared to previous years. No unexpeLied flucluaiions w¢r¢ discovered in ihc financial statem¢nt5 beyond Ih()%¢ due to the pandemiL. Ln4uiries did not reveal any post balance sh¢¢l events which would have sibynificant impact on the financial slalements lor the year. Figures in ihe financial statements wer¢ cross-refcrcnccd to and checked off againqt the acLounlingJ records (C4￿h buok lor reLeipts paym¢nls) lo confim) ihc links between the Iw(). A ￿l¢l(l￿n ul. VOULhers (invoiccs. bunday collections sheets etc) w&s traLed back lo Ihc cash bLTrok to en%ure accuraLy compl¢l¢ncss, and also from cash book to VI)ULhLr%. TL%ts wLrc madL of the arithmelical accuracy of the financial statements and the cnsh book. St (iLofbyL'S had a diificult 2023 due to o doubling of energy cosls. Volunldry reLvipls wLrL down bul only ￿aUSe of the soiind sy%iem dnnaiinnq Thai were receii'ed in ?022, and rcntal incom¢ tumed ihe comer with new nursery tenanis at Si George's and Ihe hapcl. Thu pr()SPLL15 for ?0?4 look Ix'llLr. assuming thal IhL ncw nursLriLs arc successful and become long-tenn lenanls. Thc substantial incoinc from them should allow thc increased energy c051s lo k absorbed, and ihe reserves to be repleni.qhed over ihe cominb, years. l)cter Stubb5 l-r¢a5ur¢r 81 Bartholomew's Church Sydcnham 15 p I Treasurer's Report- Sybil Carey Introduction and Notes to the Annual Accounts Year Ending 3111 December 2023 Forest Hill Team Ministry The District Church Council of St Michael and All Angels Church, Lower Sydanham The DCC of St Michael and All Angels Church (DCC) consist of those PCC members of the Forest Hill Team Ministry V4ho normally attend St Michael's Church. The DCC is a sU&r￿MMittee of the PCC of the Forest Hill T88m Ministy. It h88 deleg8ted powers from the PCC in relation to finanaal activities associated with St Michael's Church and H811. Obj6ctivos and activities The DCC of St Michael and All Angels Church has the responsibility of co-operating with the incumbent in promoting in the ecLlesiastical parish of the Team Ministry the whole mission of the Church, pa3toral. evangelistic. social and ecumenical. Fund8 The DCC has identified funds as follows: Un￿Stricted Funds DCC General Purposes Fund. managed by the DCC. Restricted Funds DCC Buildings Fund." managed by the DCC and only used to pay for improvements or repairs to the church 8nd hall buildings and fixtures. The accounts include monetary transactions, assets and liabilities for which the DCC can be held responsible. They do not indude the accounts of Church groups that owe affiliation to another body, nor those that a￿ infomal gatherings of church members. Th8 church's three sources of annual income are: Rentsl from St Michael's Primary School £16.445 Congregational giving £13.340 Tenants £16,387 P12 Rental from the church and hall from all tenants (induding School) is £32,832. this year, compared to £36,727 in 2022. The reduction is partially due to an unforeseen delayed payment of last quarter of the school rental in December. Also, some Hall hirers are finding it difficult to keep up with the increased rents this year. and we have not had any major new lettings, since Spectrum Mont&gsori1gft. The church's top three sources of 8nnual expenditure are". Parish Support Fund (Diocesan Quota) £26,350 Utilities £20.125 Salaries £9.929 In 2023 expenditure exceeded income by £18,381. The main reason being the very Sharp increase in utility costs (more than trebled, compared to 2022 - £6,424) combined with the delayed final quarter rental. The financial outlook for 2024 is18rgely dependent on a reduction in the cost of Gas prios, which was nearly tripled for us this year. Our Church being a large 1950's building with all large glass w1nd0v￿ on all sides. is hard to heat up Not having the heat at least moderately on, is out of the quesb'on. An increase in rental I gaining new tenants is also very desirable. I thank our wonderful small congregation who regularly donate. Th8nks to them. we can carry on carrying on. My thanks to Simon Taylor, Treasurer of St George's Church. who is my mentor and as per usual, checks and sends off my for Gift Aid applications and checks the account for Gompletene53. Also, to Peter Stubbs, Treasurer of St Bartholomew's Church for checking the final aGcount. Notes on the Accounts Note 1 The License Fee from St Michael's Primary School. The school uses church ovrfned land (most of the playground including the dining hall and the garden to the rear of the church) and pays"rent". The current quarterly rate is £5.481.25. P13 St Mlchael'• DCC G•n•ral Purpos￿ IUnr••trlctedl Fund Statement for thg Y••r Ended 31•t December 2023 Rac•lpts Voluntary Recelpts Standing Order Gift Aidable Standing Ofder Non Gift Aidable Envelope Scheme Gift Aidable Envelop8 Scheme Non Gfft Aldable Loose Cash and Cheques in Collection Gift Aid Income Tax Received Other Voluntary Receip15 2023 2022 6,820 4.214 6,190 4,194 480 441 1,994 240 524 1,933 920 15.273 13,538 F••• Fees for Weddings and Funerals 623 R•G•lpts from Inv•¥tm•nts Lic•n¢* F99 for Land Occupied by the Stt￿ (See Note l) Rent for Use of the Church and Hall Unifom bands Seventh Day Advenli818 I AM Church Inform Palatej Sp8ctNm Monlèsson Eioile Family Ltd Gooalimes Simye Solution Homework Club One off lellings CCLA Dèposit Fund Interest 16.445 21.926 4,987 2,6C 1,171 2￿ 2,730 1,198 1(K) 293 4,770 2400 595 1,￿3 33.834 37,133 Other Recelpts Ju•1 Glvlng Sumup 571 571 7C 7¢)0 Total r•c•lpts 51.381 2023 2022 Paym•nts •pltal prol•ct• Church and Hall improvemenls Chtsr¢h Actlvltl•• Fairer Shares {OtocAsan Quota) Di¢)cesan Fe8$ Donations lo Ch8rilies (sèe Nol$ 21 Clergy and SPA EX￿n585 25,850 26,556 Church Runnlng Expons¢$ 20,125 603 2,746 3,312 Cleaning Malgrials Insurance Repairs and Mainten8nce 6.424 576 2,310 5,597 26.785 14.907 Support and Oth•r Aetlvltles Salames Cost ol Services 9,455 877 P14 Sunday Sch¢)ol Rèsourc8s Organist Honoraria Catering Equipment Professional Fees Publiaty 3.597 764 49) 232 3,836 307 278 16,104 14,799 Other Exp•n8•• 193 193 567 567 Total payment• 69,762 58,829 Excesslshortfall (-} of receipts over payments Value of th8 fund 81151 January Value of the fund a1318t DaeAm￿r -18,381 24.778 6.397 4,982 29,740 24,778 St Mlchaol'8 DCC Bulldlnp {RMtrlcl•d) Fund Stst•ment for the Year Ended 31st Ihcwnb•r 2023 2023 2022 Payments Exce?s13hort18111-l of reeeiPl$ over payments Value ol In8 luna 81181 January Valuo of the lund at 3181 December 30.000 30.(YJO 30,C¥X) stst•m•nt ol A•••ts and U•bllltl•• for th• Y••r End•d 31•t D•cemb•r 2023 2023 2022 C••h Fund• Church of England Deposit Fund Barclays "PCC Arxounr Bardays "Hall Account C•$h In hand 32,270 31,268 23,349 160 Total bank and cash balanc8s 38,397 54,777 M•d• up •• follow• DCC Gengral Purpo88S IUnresln¢tedl Fund DCC Church Building IRestnctedl Fund 6.397 24.778 Total lund• 36,397 54,778 Check digit Other monetary and Ilabllltles (all In r••p•ct of unr•thcted frJnd8) All known asséts and Iiabilil1g$ are reported here A•J•ts Uablllti Chq. N SDA ofundable Deposit P15 Report by the Independent Examiner on the accounts for St Michael & All Angels, Lower Sydenham, for the year ended 31" December 2023 The level of gross income (being less than £500,000), and the SIZE of the balance sheet. confim that the PCC require an independenl exaMi￿110n rather than a full audit of the accounts. The accounis hav¢ been produccd using the Receipts and Payments method, rather than the Accruals meihod, which is acreptable ￿ th¢ l¢vel of giross income is also less than £250,0(M). An understanding of the PCC.'s organisalion. accounting records, activities and nature of its assets, liabilities. income and expenditure was gained from a survey of the accounting records and discussions wilh the IT¢asurer of St MiLha¢l's in previous years. No failures wer¢ identified in the accounting records. An analytical review ofihe financial Sthiemenls was Ca￿led oui io look for inconsislencies and unusual ¢v¢nts in ihe y¢ar and compared to previou5 years. No unexpected fluctuations were discovered in the financial siatemenls beyond those due to the pandemic. Enquirics did nol reveal any post balance sheet ewenls whiLh would havc significant impact on thc financial slatcments for the year. Fi¥ur¢s in the financial statements were cross-referenced to and checked off againsi the accounling records to confimi the links between the two. Tests were made of the arithmetical accuracy of the financial statements and the cash book. Whilc total in¥orne in 2023 was at a similar l¢vel io the previous year, costs increased by £13,000 due eniirely to Ihe increase in utility cosls i.e. energy. The overall deliLiI in ihe ti¢n¢ral Purpos¢5 fund in the year was £18,000 bui allowing for one quart¢r reni from the school not received betore the year end. Ihe actual deficit was £13.000. With only £6.000 of res¢rv¢5 left in the fund at the end of 2023 there is a clear need io increase income or cut costs. Probably the solution lies in a combinatiOD of factors.. increasing rental income from new tenanls or via increased Lharg¢s. falling energy cosis which seem lo havc peaked, and if necessary. reducing or deferrinbi the Quota paid to the Diocese (which is Ihe largesi cosl). Peter Stubbs Trellsurer St Bartholomew's Church Syd¢nham