REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 FOR THE PAROCHIAL CHURCH COUNCIL OF SAINT MICHAEL & ALL ANGELS, CHURCH, BRIGHTON Reglstered Charlty Number: 1152502 UHY Hacker Young 168 Church Road Hove East Sussex BN3 2DL SAINT MICHAEL & ALL ANGELS, CHURCH, 8RIGlffON TRusfEES' REPORT FOR THE YEAR ENDED 315r DECEMBER 2023 CONTENTS Page No. Report of the Trustees Independent Examlner's Report Statement of Flnancial Actlvltles Statement of Flnanclal Position Note5 to the Flnancial Report 3toll 12 13 14 15to22 Independent Examiner: Peter Tuffin UHY Hacker Young IS.E, Limltedl 168 Church Road Hove East Sussex BN3 2DL Bankers: Metrobank One Southampton Row London WCIB SHA SAINT MICHAEL & ALL ANGELS, CHURCH, BRIGHTON TRUSTEES, REPORT FOR THE YEAR ENDED 31ST DECEMBER 2023 INTRODUCTION The trustees, who are also directors of the charlty for the purposes of the Companies Act 20061 present thelr report with the charity's financial statements for the year ended 31st December 2023. The trustees have adopted the provlsions of Accounting and Reporting by Charities: Statement of Recommended Practice I'SORP'I applicable to charities preparlng thelr accounts In accordance wlth the Financlal Reportlng Standard appllcable In the UK and Republic of Ireland IFRS 1021 leffectlve I" January 20151. ADMINISTRATIVE INFORMATION St Mlcliael & All Angels, Church is located in Vlctorla Road, Brl8hton. It Is an autonomous Church of England parish wlthln the Dlocese of Chlchester. All correspondence should be addressed to the Parlsh Offlce. The Parochlal Church Councll {PCCI Is a reglstered charlty, No. 1152502, registered with the Charity Commlssion within the meaning of the Charltles Act 1993. The Advowson of the Beneflce Is held by the Soclety for the Malntenance ofthe Falth. The PCC has passed a Resolution with regard to the flve Bulding princlples of the House of Bishops and Is a member of The Soclety of Salnt Wilfrld and Salnt Hllda. STRUCTURE, GOVERNANCE AND MANAGEMENT The charity Is controlled by its governing document, a deed of trust, and constltute5 a limlted companyi Ilmlted by guarantee, as deflned bythe Companies Act 2006. St Mlchael's PCC'S prlmary objectlve Is the promotlon of the Gospel of our Lord Jesus Chrlst accordlng to the doctrlnes and the practlces of the Church of England, It is responslble for co-operatlng wlth the incumbent In promotingi in the eccleslastlcal parlsh, the worship, the mlsslon of the Churchi pastoral care and communlty outreach. The PCC Is also responslble for a wlde range of matters affectlng the parlsh, Includlng. Caring for, maintainlng, preservlng and taklng out adequate Insurance cover for, the fabrici goods and artefactslrellcs of the church. Consultlng wlth the Incumbent on matters of general concern and importance to the parlsh, and co- operatlng wlth hlm In promotlng the mlsslon of the church. Complying with all relevant health, safety and dlsablllty leglslatlon. Safeguardlng vulnerable people who visit the church. Ensurlng the stewardshlp of funds and for the accountlng and reportlng of the parlsh flnances. Membershlp of the PCC Is determlned under the Church Representatlon Rules and con51sts of ex-officio members, (the Incumbent and Asslstant Curates, when In post; churchwardens and members of the Deanery Synod), up to nlne elected members of the lalty who are elected by rotation at the Annual Parochlal Church Meeting IAPCMI and co-opted members. Systems are in place to ensure that members are aware of their respon51bllltles as PCC members and charity trustees, and equipped to fulfil thelr roles. SAINT MICHAEL & ALL ANGELS, CHURCH, BRIGHTON TRUSTEES, REPORT FOR THE YEAR ENDED 31ST DECEMBER 2023 Durlng 2023, the following individuals served as members of the PCC,. Incumbent.. Assoclate Vlcar: The Reverend John Blackburne (from 29111 November 2023) The Reverend Kevln Humphrys Churchwardens: Andrew Peel - Actlng Chair (untll 2wh November 2023) Tom Cosgrove Vacant Slmon Thompson- (PCC Co-Treasurer} Adam Le Clercq Andrew Collln Slmon Marlow lan Smlth Ray Steers Mlchael Timmons Hannah Kessock-Phlllp Samantha Goodbodv Deanery Synod Rep.. Elected Members: REVIEW OF THE YEAR Mlnlstr In recent years, Includlng most of 2023, parlsh Ilfe has k)een affected greatly by the absence of a parish prlest, The churchwardens, supported by Fr Kevin Humphrys, our Associate Vicar, worked hard to ensure that parlsh Ilfe contlnued as normally as posslble in these challenglng clrcumstances, but there are Inevltable consequences of not havlng a prlest wlth hls 'feet on the ground, In the parlsh - nurturing the exlstlng congregatlon, addressing people's splrltual needs and guldlng wlder parlsh growth. We have also contlnued to hold a weekday Mass at 11 a.m, on Frldaysi presided at mainly by Fr. Steven Foster whose support has been Immense. Fr. John Joyce has also asslsted on many occaslons to maintaln thls weekday Mass. Fr. Steven and Fr. John have also preslded on Sundays In the absence of Fr. Kevln. However, we were pleased to welcome our new Vlcar, The Revd John Blackburne, who was Installed by The Blshop of Chlche5ter at St Mlchael's on 29 November 2023. Father John wrltes; Havlng arrived In the parish In mld-November, my Instltutlon and induction to the beneflce as Vicar took place at a joyful service on the 29th November 2023. Slnce then, I have been gettlng to know the parlsh and local envlronment, meetlng wlth nelghbourlng clergy from St Nicholas and from our assoclate churches In the Wagner Group, which now comprlse our own parish, St Batholomew, St Martln, St Paul Brlghton, and St Barnabas Hove. I have reacqualnted myself wlth a fellow student from St Augustine's Theologlcal College, who Is now the Rural Dean, Rev Emma Ham-Rlche, and got to know the parlshes and clergy of the Deanery vla the Deanery Synod, I have begun to develop a good working relationshlp with the Frlends of St Mlchael's and enjoyed meetlng them at a recent annual event. I have also been Introduced to the local care home, The Plnes, and have arranged regular visits to the home to support the staff and resldents. As part of our wider outreach, I have vislted St Paul's Church of England Prlmary School and had a very constructlve dlscusslon wlth the head teacher, Mlchelle Lord, about how we might support thelr work in the future. SAINT MICHAEL & ALL ANGELS, CHURCH, BRIGHTON TRUSTEES, REPORT FOR THE YEAR ENDED 31ST DECEMBER 2023 I have also been In touch wlth our local councillor, Alison Thomson, regardln8 some of the local social issues which affect our parlsh and how we might increase our profile locally. I have been very lucky In the support I have had from the Diocese of Chichester slnce l arrlved, for practical issues surrounding the vicarage, especlally from Cler8y Property Services, and Theresa Tlppllng, as well as more strateglc15sues such as governance, and stewardshlp ofthe parlsh, from the Generous Glvlng Team, Rev Andrew Smlth. In all this I have been glad of the support of our own local clergy especlally that of Fr Kevin Humphrys, our Associate Prlest, wlth whom l am delighted to share the ministry at St Mlchael's, as well as Fr Steven Foster and Fr John Joyce, all of whom have made me welcome and provided me with a much needed source of wlsdom and support slnce l arrived. I would have been unable to do any ofthis wlthout the support ofthe churchwardens, Andrew Peel and Tom Cosgrove, and the PCC to whom l owe a debt of gratitude since before I was appointed untll now. l am partlcularly grateful to Adam Leclercq who transforms our worship each week wlth his music, our wonderful servlng team led by lan Smlth and the Ilmitless talents of our parlsh admlnlstrator, Slmon Thompson, With thelr help we celebrated a wonderful Advent and Christmas and I look forward to worklng wlth everyone in the coming year. For the coming year we commend ourselves to the care of St Mlchael and All the Angels and to Our Lady of Walslngham In the hope that she will contlnue to Intercede for us. eclal servlces One funeral took place In 2023. Chlldren and oun eo Our work wlth children and young people contlnues to grow and strengthen, and Includes: 'Treasure Seekers, Thanks to the support of volunteers, the children meet In the hall durlng Sunday Mass, and regularly contrlbute to the Llturgy on Sundays. At Christmas 2023, we held a Crlb Servlce which saw 105 attending. Llttle Angels Play Group: The playgroup is run by Nlcole Le Clercq every Wednesday In term-tlme from 9.30 to- 11am and Is open to all bables and chlldren up to 5 years old. The suggested donatlon per famlly Is £2 which goes towards updating toys and craft supplles. The sesslon starts with free playtime and craftlng actlvltles, followed by snack-tlme together, then tldy-up tlme before flnlshing with a story and some singing. Numbers vary, but we have a core group of between 5 and 20 bables and chlldren of all ages who attend each week, The chlldren and parents / grandparents have made friendships through comlng and enjoy catchlng up each week, and sometlmes brlng frlends along too. Our Facebook page is updated regularly and shared to parents groups locally. Safe uardln lun Smith, oursafeguardlng Offlcer, wrltes.. AII PCC members, clergy and those in a posltion of respon51bility have undergone the required level of National Safeguardlng Tralnlng, a5 provlded by the Diocese of Chlchester. For example, PCC members are obllged to slt and pass the 'Baslc Awareness, and 'Foundatlons' courses, whereas other senlor leaders have to sit and pass the hlghest level, the 'Leadership' safeguardlng course. SAINT MICHAEL & ALL ANGELS, CHURCH, BRIGHTON TRUSTEES, REPORT FOR THE YEAR ENDED 31ST DECEMBER 2023 If you requlre support in relatlon to any safeguardlng Issue, please contact me via my email address: stmichael.5afe uardin mail.com or the Diocesan Safeguarding Team on: safe uardln chlchester.an lican.or Fabrlc malntenance and bulldln ro ects l. Qijlnquennlal Inspectlon and Report In May 2023, Mr James Ford, the diocesan-appolnted archltect for St, Michael's church, carrled out a comprehenslve Inspection of the bulldlng accompanied byTom Cosgrove, churchwarden. Graham Buxton, general bulldlng and roof repalr contractor, attended for part of the meeting. James's formal report produced for the Trustees was also sent to the Archdeacon of Brighton, and the Dlocesan Advlsory Commlttee (for bulldlng-related Issues). The main conclusion of the Inspectlon was that the buildlng is sound, and that the Trustees had fulfllled their obllgations as far as avallable funding had permitted. The regular day-to-day malntenance of the bulldingi partlcularly roofs, and rainwater goods, had prevented deterloration. His recommendatlons were to contlnue ongolng day to day repalr and decoratlon. The repalr of slow leakage of water Into the Lady Chapel was to be investlBated, and refurblshment of the Interior carrled out once thls had been solved. The appearance of spalllng of the stone and brlckwork In the Bodley church was dlscussed, and the archltect wlll advlse how thls mlght be ameliorated. There were noted several areas which would requlre attentlon In a five to ten year period, and for whlch slBnlficant fundlng would be required. These Included: o Relaylng of slates on north alsle roof. Replacement and repalr to stonework of the hlgh level south clerestory windows In the Burges Nave. Replacement and repalr to the exterlor wlndows and surrounds of the sacrlsty, and replacement of polycarbonate shlelds wlth powder coated wlre screens. Installatlon of a new and effective heating system. 2. Repalr of storm damage- roof and flèche above Bodley chancel Storm Eunice whlch struck In February 2020 dislodged slates to the roof, and tore away the lead covering to the bell flèche. There was a delay to the start of the repalrs Into the current period wh115t Insurance fundlng was secured, so the repalrs weren't completed until March 2023. Whlle the scaffoldlng was In place the opportunity was taken to brlng down the bronze 'Sebastopol' bell, as Its housing had rotted beyond repalr, and It was the safest option. The pigeon netting was also secured around the flèche. 3. Electrlcal Testlng In preparatlon for the qulnquennial inspection, a complete electrlcal safety survey was undertaken In April 2023, and followlng some remedlal work, the installation was certlflcated as meetlng all current guldellnes. SlmSlarlyi testlng of the maln Ilghtnlng conductor was undertaken. Soclal events We celebrated the Coronatlon of King Charles111 wlth a three-course lunch In the Bodley Church for over a hundred people, and held a parish lunch for Harvest In October. In November we held a very well- attended Wlnter Falr and organlsed the bar for the series of Nocturne Concerts In 2023. SAINT MICHAEL & ALL ANGELS. CHURCH, BRIGHTON TRUSTEES, REPORT FOR THE YEAR ENDED 31ST DECEMBER 2023 The cholr All at St Michael's are grateful to the Organlst and Dlrector of Music, Adam Le Clercqi and the cholr, for thelr contrlbutlon, perseverance and commltment, and for leadlng the worshlp music at servlces In 2023. We are also thankful to the vlsltlng slngers who assisted the cholr durlng our Holy Week and Chrlstmas services. Muslcand Art at st Mlchael's St Mlchael's Church, foremost a place of worshlpi also has a versatillty in that the buildlng lends Itself very well to a range of dlfferent muslc and arts-based events- worklng equally well as an exhlbition space and as a venue for the performing arts. We held a varlety of such events durlng 2023 whlch brought In vital Income and attracted new audiences. Visitors always comment on how struck they are by the church's beauty and how the settlng Is such an Integral part of the whole St Michael's experlence. The Frlends of St Mlchael's 2023 saw a wide range of actlvltles organlsed by the Frlends and supported well by members, their friends and the wlder communlty. Iclcles Party• 27th January.. the annual post-chrlstmas event has become a firm feature In many a dlary. Thls year was a wonderful chance for members and their guests to start the new year with a bang. Many thanks to all who helped, whether with food, decoratlons or welcomlng guests on the door. Local author, Jane Lythell, read extracts from her13test book and spoke of her background In the medla at the well-attended Llterary Lunch on 161h June. Members and many others enjoyed both good food and the wonderful atmosphere of a full nave of the Burges church. Jane gave a fasclnatlng explanatlon of her method of wrltlng and inslght into her preparation and process pre-publication. Next, the Friends were given a treat by local resldent Gary Mccann of Narratlve Space. 'My Designs for Ih Opera, was a barnstorming talk on 14 July about how he became an opera deslgner and Inslghts Into his thinking behind hls designs. It was particularly touchlng that Gary told how former Friends chalr John Cox was a great help and mentor for him. Ih The Frlends, dinner was held on 15 Septemberwlth excellent attendance. Though the dlnner has become a feature of the local soclal calendar, It has become more dlfficult to malntaln standards at an affordable prlce so a revlew wlll be undertaken In 2024. Another flrst for the Frlends of St Mlchael's was a talk }olntly sponsored wlth the Regency Soclety on iilh October. Former Curator of Cardlff Castle, Matthew Williamsi gave an Illustrated talk entltled 'WS11iam Burges Gothlc Revlval Genlus,. A very full house was glven an erudlte and amuslng life story of the man who bullt St Michael's'new church,. As has happened In past years, we are grateful to Simon Thompson for leadlng another serles of Christmas wreath-making classes enjoyed by all who were Involved. Membershlp remalned steady and the bank account healthy wlth some £49,000 ready to be used to help continue to malntaln the fabric and fixtures of our very speclal bullding. SAINT MICHAEL & ALL ANGELS, CHURCH, BRIGHTON TRUSTEES, REPORT FOR THE YEAR ENDED 31ST DECEMBER 2023 On a slightly sad note, Chris Dawes, Chair of the Frlends Indlcated that, after some ten years, he would step down In 2024, We are hu8ely grateful to Chrls for leading a dedlcated team of volunteers so ably through some dlfficult tlmes and providlng guidance so that really Interestlng and wide-ranglng programmes of events have been delivered for all to enjoy. He has always kept focus on the purposes- to contribute to the malntenance of the bulldlng and to the provlde a forum for the local communlty to be Involved, Electoral Roll In 2023, there were 90 people on the Electoral Roll, of whom approxlmately one third reslde In the Parlsh. Church attendance Average weekly attendance at Saint Mlchael's is 41 adults and flve chlldren Ithls flgure also Includes those attendlng Friday Massl. PCC Re ort The PCC met 3 tlmes In 2023, wlth matters dlscussed Includlng fabric and financlal matters, the vacancy, the appolntment and purchase of the Vicarage by the Diocese of Chlchester; In addition to regular standlng agenda items such as Safeguardlng and Health and Safety and Deanery Synod. We were also pleased to welcome the Archdeacon, The Venerable Martin Lloyd-williams, to our 81h June PCC meetln8. Deaner Deanery Synod acts as an Intermedlary between the Parochial Church Counclls of each parlsh in a Deanery and the Synod of the Diocese. It con51sts of all clergy licensed to a beneflce wlthln the deanery, plus lay members elected by thelr PCC. Brighton Deanery Synod met 4 times in 2023. Meetlngs begln wlth prayers followed by Deanery buslness, a financlal report, the Rural Dean's updates and guest Speakers, before closlng wlth prayers, We currently have three vacancles on the Deanery Synod. 'Publlc Beneflt. re ortln The PCC Is a charltyi and 'the advancement of rellglon'ls a charltable purpose under the Charitles Act 2011. The PCC Is aware of the Charlty Commission's guidance on public beneflt In relatlon to the advancement of rellBlon and has regard to It In the admlnlstratlon of St Mlchael and All Angels, Church, The PCC holds the vlewthat, In promotlng the work ofthe Church of England In the Clty of Brlghton and Hove, the church helps to promote the whole mlsslon of the Church pastoral, evangellstlc, soclal and ecumenlcal. Furthermore, In dolng so, It provldes a beneflt to the publlc by promotlng Chrlstlan values, and by provldSn8 facllltles for public worshlp, as well as opportunlties for pastoral care, communlty use and outreach, and splrltual and moral development, both for Its members and for anyone who wlshes to benefit from what St Michael's offers. Speclflc examples of St Mlchael's Impact Include: Enabllng the people of Brighton and Hove to be part of a church famlly and community- provldlng opportunlties for worshlp and social engagement and so benefitlng their splrltual and emotional health and well-belng. The provislon of pastoral and prayer support and a 'llstenlng ear, to those who are dlstressed or In dlfflculty. Pastoral vlsits provide support and help to reduce Isolatlon and dlstress, The provision of free actlvltles for chlldren {includln8 Treasure Seekers, Sunday School and the Llttle Angels, weekly play-group} supports parents and provldes opportunltles for children to learn, soclallse and enjoy themselves. SAINT MICHAEL & ALL ANGELS, CHURCH, BRIGHTON TRUSTEES, REPORT FOR THE YEAR ENDED 31ST DECEMBER 2023 The provision of opportunltles for volunteerlng le,g, as PCC members, servers, meeters-and-greeters, Saturday Breakfast team members, Frlend5' commlttee members etc.) and to learn new skllls, become part of a community and meet new people. Saturday's Communlty Breakfasts- a form of dlrect, compasslonate support to the citws street homeless, as well as provlding a hot meal to local residentsi passers-by and church vlsltors. IN.B. The Saturday Breakfasts, project remained closed durlng 2023, owlng to a lack of volunteers, post-covldl. Providing and malntalnlng the herltage asset that is 5t Mlchael's- a Grade l-llsted bulldlng noted for Its WS11iam Morrls stalned glass and pre-Raphaelite art. The residents of Brighton and Hove and other vlsltors are able to explore, enjoy and appreclate St Mlchael's, elther Informally whllst attending church services or formally vla a range of exhlbitions, talks, dlnners, concerts and gulded tours. Providing a temporary venue for a local doctor's surgery and a polling station, as well as a venue for fllmlng and a meetlng place for local groups and charltles- often wlthout charge or at a speclal concessionary rate. Providing donations to local charltles and good causes, In¢ludSng to Macmlllan Cancer Rellef, Bowel Cancer UK and the local Ukrainian communlty. Provldlng an Incluslve church and sanctuary wlthln the City of Brlghton and Hove that warmly welcomes everyone, Includlng famllles and young people. The PCC Is of the vlew that thls report, taken as a whole, provides evidence that the church furthered Its charitable purposes for the public benefit in 2023. Flnanclal Revlew The blgger plcture Llke most churches, our flnances have suffered in recent years as a result of the pandemlc, but the Impact has been exacerbated by our being In vacancy between July 2021 and November 2023 and the cost-of- living crlsls. The smaller congregations mean that we have seen far fewer gifts vla 'plate' collections and wall-safe donatlons, our planned glvlng Income has flatlined, and much of our 'earned' Income from church rentals, hall lettlngs, concerts and Brighton Festival & Frlnge events Is only now returning to pre-pandemic levels. We are very proud that, desplte these myrlad challenges, and what mlght arguably have been the most challenglng flve-year perlod In St MSchael'$ 162-year hlstoryi we have managed to 'keep our heads above waterf and remaln sustalnable. To underllne this, and provide some broader, hlstorlc context to our flnanclal performance, Figure l. Shows the Income, expendlture and 'net' average5 over the last flve years: Flgure I.. Flnanclal Year 2019 2020 2021 2022 2023 Investment returns Overall net posltlon £36,068 £41,938 £40,118 -£37,277 £20,701 £20,310 Income £92,953 £68,123 £62,722 £68,333 £89,683 £76,363 Expendlture £104,831 £55,812 £63,409 £65,080 £87,081 £75,243 Surplus -£11,878 £12,311 -£687 £3,253 £2,602 £1,120 £47,946 £29,627 £40,805 -£40,530 £18,099 £19,189 5-yr Averages SAINT MICHAEL & ALL ANGELS, CHURCH, BRIGHTON TRUSTEES, REPORT FOR THE YEAR ENDED 31ST DECEMBER 2023 Net posltlon We are pleased to report that these accounts show that we were able to 'balance the books, in 2023. General Income- l.e,, that which derives malnly from donations, Gift Aid, legacies, endowmentsi grants and trading- totalled £89,683131.2Yo hlgher than 2022's f5gure of £68,333}. Thls Increase was largely down to an Insurance clalm for storm damage repalrs, whlch offset expenditure on the same. SlmlSarly, expendlture was £87,081 lan increase of 33.8% over 2022's flgure of £65,080). The surplus on the general fund {l.e. our day-to-day flnancesl was therefore £2,602, We are very grateful that church members, the Friends of St Mlchael's and our community have supported us so generously throughout the year. With thelr contlnued regular givlng, Frlends, membershlp renewals, addltional donatlons and Glft Ald Iwhlch resulted In £5,080 reclalmed from HMRC {£8,132 in 20221. Our heartfelt thanks go out to ever one who supported us In 2023 and made thls posslble. Our flnances have been further bolstered by the performance of our Investments, whlch are managed by the Diocese of Chlchester. Whereas these performed very poorly In the prevlous year- malnly as a result of market volatlllty triggered by the war In Ukralne, rlslng inflation and higher interest rates1s0 reallslng a loss of £40,5301- in 2023 we saw galns of £18,099. The Impact of thls upllft Is that our overall financlal posltlon Is a 'net' posltlon of £20,701. Other notable 'headlines' from 2023's accounts are that: > Comblned Donations and Legacy Income decreased by 6.6%, to £42,83812022: £45,891). > Grants: we contlnued to received support from The Robertson Hall Trust {Reg Charlty no. 10734731 who make an invaluable, much appreciated contributlon towards the Parish Admlnistrator's salary. Thelr grant support In 2023 totalled £5,000. > Tradlng Income was down slightly, by 6.6%, from £16,354120221 to £15,276. Thls revenue derives from hall lettings, income and other asset rentals {£8,8951 and Income of £6,381 from fundraisin8 events and actlvltles, such as the Coronation Lunch, Chrlstmas Falr and several gigs and concerts, > In a year in whlch many people's finances continued to be under pressure, we saw planned 8lvlng lexcludlng Glft Aldl remaln fairly statlc. Income was £19,557 {£19,653 In 20221 thanks to the 25 congregation members who support us regularly and Benerously, elther via a standlng order, the Parlsh Glvlng Scheme Ihtt www. arish ivin .or donors settin our- l or our Stewardship account (see.. htt www.stewardshi .or artners 20398527}. > Other donation income totalled £17,09012022: £12,193). This comprlsed revenue of £12,370 from the Frlends of St Michaels,; £1,340 from Simon Thompson's Chrlstmas Wreath-making workshops and £3,264 from non-Glft Aid donatlons. Parlsh Share: To reflect the absence of dlrect prlest costs {e.g. for stlpendi penslon and houslngl durlng the vacancyi whlch covered 11 months {January to November) of 2023, we made Parlsh Share payments to the Diocese totalllng £13,308 (2022: £14,340) over the course ofthe year. > Our flnanclal posltlon has been somewhat protected in recent years owlng to the three-year fixed deals we had for gas and electrlclty, Unfortunately, these ended In November, and we had to enter new, much more expensive deals for the church and the hall. As a result, our utllltles, costs are expected to Increase by up to 60%. Reserves pollcy It Is PCC policy to maintaln a balance on the general unrestrlcted fund Iln practical terms, our Metrobank current account) that equates to at least three months, worth of running costs, as contlngency against unforeseen situations. Our 'Free Reserves, level as of 31st December 2023 stood at circa £12,22112022.' SAINT MICHAEL & ALL ANGELS, CHURCH, BRIGHTON TRUSTEES, REPORT FOR THE YEAR ENDED 315r DECEMBER 2023 £13,420). Wlth annual expenditure over the last flve years averaging £75,243 Isee Figure I, above), average monthly pro rata expenditure is £6,270, so our cash balance equates to roughly 2 months, expenditure, somewhat below our target level. 'Golng concern, statement The PCC is aware that It has responslblllty for assessing the charitws abllity to contlnue as a golng concern. As such, and havlng considered all of the Informatlon available to them, the trustees are happy to state that thls 55 Indeed the casei glven that our total comblned assets flgures stands at £482,03712022: £461,336). Rlsk assessment The PCC examines major rlsks that the church faces each year and has systems In place to monltor and control them to mitigate any Impact that they may have on St Mlchael's, Reglstered Charlty number 1152502 Reglstered offlce St Mlchael's Parish Office St Michael's Place Brlghton East Sussex BNI 3FU Approved by order ofthe board of trustees on......,... and slgned on Its behalf by: Fr John Blackburne Vlcar / PCC Chalr PAROCHIAL CHURCH COUNCIL QF SAINT MICHAEL AND ALL ANGELS, BRIGHTON INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES For the year ended 31 December 2023 l ¢epofl tm ihe accounis lortlieyear 3151 DocombEf 2023 whlthuios*iO￿0tsY#l¢$ 13-22 Re5ponwlth myexamlnalloTr. no rnatlerhave corne lomyoito•tloTh.' whlch 8lve rtss¢Jn•bltrcause iol>ellÈve Ihal In anymalerlal respect Iheieqvliemenls i• keepoctouniingiefoids In accordanceY411h 5.13DollhE ZOII Act. ¢x to prepèreaUwThtsWh￿kn accord wllh Ihesp at¢ounii*&rtcordshavenoibeen MeL'or towhlcli In myoplnlD tlenllon thoutd drawn Inordwto¢mable 3 yoper ￿nder$10ndIn9QI theaccounls lobe re4chEd. UNYHoSketYov￿tl . . Chaiiered Accouniènts 1ndepeThrfE￿l Examln Dale.. 12 PAROCHIALCHURCH COUNCIL OF SAINTMICHAELAND ALLANGELS, BRIGHTON Reglstered Char5ty no. 1152502 statemenl of Flnan¢lal Actlvltles For the year ended 31 December 2023 Unrestrlcled Reslrlct¢d Endowed Tot91 Funds IEEEIE TotolFisrtds 22 Notes 202 Income and endowments from,. Donatlons and lega¢les 42.838 42,838 1111 45,891 393 393 990 Olhertridln8 acllvltles 15,276 15,276 16.354 Inveslments L253 1,253 765 Yru5t Income 29,923 29,923 4,333 Otheriecelpls Total Income 59,760 29.923 89.683 6&333 Empendlture on: Rolslngfvnds Charltable act1￿lIeS 72,339 8,535 80.874 60.B81 OlherTradlnB actlvltles 6,207 6.207 4.199 Total expendlture 78.546 8.53S 87.081 65.080 Nel galns lor los$esl on Investmenis 3.92> 14.176 18,099 {40,5301 Nèt Income Transter between funds 118,7861 2S,311 14,176 20.701 137.2771 Reconclllotlon offunds.. Net movement In funds 118,7861 25.jll 14,17fj 20.701 137,277} Totallunits brought forward 12,6411 78,394 385,583 461.336 498,613 121.4271 ioa.705 399.759 482,037 461,336 11 13 PAROCHIAL CHURCH COUNCIL OF SAINT MICHAEL AND ALLANGELS, BRIGHTON Reglstered Charlty no. 1152502 Statement of Flnanclal Posltlon As at 31 December 2023 Total Funds TotolFunds 2Q22 Note$ Tanglble assets 433 Investments 404,416 371,181 Total flxed assèts 404,849 371.181 Debtors 69,820 81.196 Investments Cash at bank and In hand 12,221 13.420 12 Total current assets 82,041 94.616 Credltors.. Amounts falllnB due wlthln one year 14,8531 {4.461J io 77,188 90,1SS Total assets less ¢uffent1labllltles 482,037 461,336 Credllors.. Amounts falllne due alter mofe than one year 482,037 461,336 The funds of the ¢horlty.' Unrestrlcted Income funds 121A271 103,705 399,759 (2.641) Re5trlcted lunds Endowment funds 385,583 Total re51rlcted lunds 503,464 463,977 Total charSiV futyds 482.037 461,936 li The Reverend John Blackburne Vl¢ar and Chalr of Trustee Date............ 14 PAfiocHIALCHuficH COUNCILOFSAINTMICHAELANOAILlIt4GELS, BAIGHTOPI fte8lsioied CtharlLVIID. 1152502 Fortho yoar ended 31 Deienibpv XO23 l ArwuThiiTrB pTrllcle5 COUnllD8c0nvenl￿n Ihi finantl*l h4¥* bt•n piewi¢6 th• ChL¥ih Attouhllw R•Bu￿11￿M Irth h icwrdlnct vAth •pplr4W? slKlir4J5 IhD Wi[*DI110151 S￿11￿￿￿tO1REw￿IM￿0idPliCIk￿,￿t¢0u￿t￿￿l￿dHep01tlD4￿[h*tttth￿5oRPIFHs101I. 114n14clhhts.•s%*l%•rAlknb11111¢iloIwN¢hthiPCC111•5pon￿bfe1nI￿. ThiydoMIlrKlvdEihE4[r￿￿￿1s0r1hvr(hu0Ups1h￿IibWO1hlIT4In￿&u0nl0ano￿IIw.fftDl￿I￿ NthaioiThfotm4lYifviil￿S￿lyourDeanery. AnyparI51icoTrldlJ￿1lQTrvD￿èl￿0t3I Decefflber202315proTrAded lorlnthèse ty¢tourtt4ag aiioperaiioTraIllhovili￿QI ¥le8ollll•bhtl¥ortd1sshown•sac￿￿IIorI￿I￿ebOlOllQS￿eeI. Fl¥ed Assels roftfrllil¢llxedosseis D¢pi¢d4iiwJ OepreclJllOn15provldtd•ithefdlo￿￿ft0Nn￿allaIe5l￿orde￿IQW1lleOllelch￿$ÈI0VÈsI1SesI1m3leduse[¥llIfe. 25%onc051 f CurrentA5sets n￿UnIS owln8 10 the KCat31 Decornbor 202a I￿ rospeci olfees, ￿￿1$ oi olhEr Intomt ¥1¢ $lth¥n •$ debtws kss pr¢iYls10Th lor arnO￿nIS 111?1 m•v prove uncollectlblo. Short-thm)dtp)siislncludecash heldon dep0511 pllhotwllh Ihr*C8FCthvrch0lEn8la￿d Fund4or•iihebink. 16 PAROCHIALCHLIRCH COUNCILOF SAINT MICHAELAND ALLANGELS, BRIGHTON Re8lstered Charlty no. 1152502 Notes to the fSnanclal report Icontlnuedl For the year ended 31 December 2023 2 Analysls of Income and endowments Unrtsirl¢ted und R¢stiltled Endowed Tolal Fund$ TotolFunds EEIEIE und und 02 Notes Planned 8lvln8 (excl, t8x relundsl Loose cash collecllons 19,557 19,557 19,653 1,103 1,103 913 Olhei donatlon5 EIIEI 17,090 17,090 12,193 Glft Ald recoverable 5,088 5,088 Legade5 42,83B 42,838 45,891 Fees forweddlngs & Ivnerals 393 393 990 Ch8rliable a¢ilvliles 393 393 990 Fund Ralslng events Incomè Church hall and oiher rental Income 6,381 6,381 8,895 S,035 8,895 11.319 Breakfast and calé Income Tradlng a¢tlvliles 15,276 15,276 Bank & CBF deposlt Interest 1,253 1,253 765 CBF Investment fund dlvldend Other Investment fund dlvldend Rent from lettlnB of Investment properly Invesiments 1,253 1,253 765 Trusl Income 29,923 29,913 4,333 Government Grants Grants 29,923 29,923 4,333 Total Income and endowments on all funds 59,760 29,923 89,683 17 PAROCHIALCHURCH COUNCILOFSAINT MICHAELANDALLANGELS, BRIGHTON Reglstered Charlty no. 1152502 Notes to the Ilnanclal report Icontlnuedl For the year ended 31 December 2023 3 Analysls of expendlture on: Unwe5tflcted Restilcted Endowed Yolal Funds Toiol Fund5 IEEEIEIIE Nole$ Inve51ment management costs Cost of ralslng funds Mlsslonary and charltable 8lvln8 Mlnlstry: 75 75 Dloceson purlsh shore Otliercler9ycosts & housln$7 Stall 13,308 13,308 14.340 1,587 1,587 16,285 16,285 14.238 Mlscell8Treous church serylcecosis 859 859 392 Parlsh off1￿ costs 723 723 4233 Churth Utlllty bllls FTlends ol St Mlchael's 6,172 6,172 4738 6,589 6,589 3.610 Church Musl 178 178 297 Church runnlng 3.717 3,717 3,792 Subscrlptlons Chvrth malntenance and repali 350 350 130 9,834 8,535 18,569 fi665 Insvrance 8,207 8,207 488 Professlonal fee5 1.910 1,910 Governance 2.400 2,400 1868 OepTeclytl¢)n 145 145 Cost of ¢liarltablè actlvStles 72,939 8,535 BO,874 Cost of iradlng actlvltles 6,207 6,207 4,199 Cost of tradlng actlvStle$ 6,207 6.207 4.199 Total expend1¢￿Te 78,546 8,535 87,081 65.080 18 PAFIOCHIALCHURCH COUNCILOF SAINT MICHAELAND ALLANGELS, BRIGHTON Reglstered Charlty no. 1152502 Notes to the flnanclal report l¢ontlnuedl For the year ended 31 December 2023 4 Staff costs Unrestrlrttd Reslrlcted Endowed Total Funds 2023 rotolFunds Notes 8 Remuneratlon Wogesondsoloiles Pustoml usslstants 16,285 14,238 16,285 14,238 5 fjovernan¢e Unrestflclod Reslwlded Endowgd Total Funds TotolFunds Note$ Prolesslonalfees Independent examlnotlon Accounts pmductlon Puyroll 1.910 500 1,900 500 1.960 408 4,310 2,868 IÈÉÈEIE Unresiilrted Resirlrted Endowed Toièl Funds TotalFunds Notes 6 Analysls of transfers between funds Fund tronslermovements 19 PAROCHIALCHURCH COUNCILOF SAINT MICHAELAND ALLANGELS, BRIGHTON Reglstered Charlty no. 1152502 Notes to the flnan¢lal report Icontlnuedl For the year ended 31 December 2023 7 Flxed Assets a Inv¢slmethts Unrestrlcted Resirlcled Endowed Total Funds IEIEEIZ 2023 Notes Market value I january 2023 Dlsposals at carrySn8 value Purchases at cost 41,695 329,486 371,181 Net galns and revaluatlon Market value 31 December 2023 3,923 29,312 33,235 45,618 358,798 404,416 There Is no Investment assÈt outslde the UK Flxed assel Inveslnient refer5 to the holdlnE5 of CCiA Dlocesan Inve5tmeni. Tan Ible IlxÈd ossÈ1s Flxture Yot41 assets Notes Cost or valuatlon At l January 2023 1,650 1,650 Addltlons 578 578 Dlsposals Revaluatlon At 31 December 2023 2,228 2.228 Depreclatlon At l January 2023 Addiilon5 1,650 145 1,650 Dlsposals Revaluatlon At 31 Oecember 2023 1,795 1,650 Net book amounts At 31 December 2023 433,00 1,650.00 At 310ecember2022 20 PAROCHIAL CHURCH COUNCILOF SAINT MICHAELAND ALL ANGELS, BFIIGHTON Reglstered Charlty no. 1152502 Notes to the flnanclal report IcontSnuedl For the year 31 December 2023 8 Analysls of nel assets by fund UMrestil¢ted Reslrlftqd Endowed Tolal Fund$ TotolFunds IEEEIEIE 02 Notes Flxed assets for church use Investn)ent Ilxed èssets Current a5set5 (except cashl Cash at bank and on deposlt Current Ilabllltles 67.018 2,802 69,820 81.196 11111 12,221 12.221 13.430 12 4,853 4,853 f4.461J io Non-current Ilabllliles 17.074 67,018 2,802 86,894 90,155 9 Debtors Unrestritt*d Re5trlcted Endowed Totol Fund$ TotolFunds IEEEIEIE Notes Prepayments and accrued Incoine Other debtois 67,018 2,802 69,820 81,196 67,018 2,802 69.820 81,196 Includedln oiherdebtor$15 IlieR8SFrlend50ISIMlchoElbunk Gccount 10 CredStors: amounts falllng due wlthln one year Unre5trlcled Restrlfied Endowed Total Ftshds TotolFunds IEEEIEIE und 202 Other ¢iedliors Accruals & deferied Income 729 729 2.061 4,124 4.124 2,4100 4,853 4.853 4,461 Included In othercredltors urePA YE ondNI diie to HMRC 21 PAROCHIAL CHURCH COUNCILOF SAINT MICHAELAND ALLANGELS, BRIGHTON Reglstered Charlty no. 1152502 Note5 to the flnanclal report Icontlnuedl For the year ended 31 December 2023 11 Statement of funds Balance5 rransfers, other8alns and losses Balan¢e$ cl(wd 31 Dec 2029 bllwd l Jan 2023 Income Exp8ndlturo Re5trlcled Fuiid Endowment Fund 78,394 385,583 29,923 18,5351 3,923 14,176 103,705 399,759 rolal of all restTlcled funds 463,977 29,923 18,5351 18,099 503,464 General fLind 12,6411 59,760 178,5461 (21,427) Total of all unre5tilcted funds 12,6411 59,760 178,5461 f21.427) Total funds 461,336 89,683 187,0811 18,099 482,037 12 Analysls of bank and cash equlvalents Total Funds 23 Total Funds 2022 Bank Noll¢e deposlts Iless tlian 3 months) 12,221 13.420 12,221 13,420 13 Related partles and transactlons There were no related pJrly transacllons for the year ended 31 DecembeT 2023. 22