Annual Re
ort and Financial Statements of
The Parochial Church Council of the Ecclesiastical Parish of
St Paul's Church Warwick Road Banbu
Re
istered Chari
Commission Number 1153218

Annual Report and Financial Staten*nts of
The Parochial Church Council of the Ecclesiasllcal Parlsh of
St Pauvs Church, Warwick Road. Banbury
ReEisteied Charity Commission Numbu: 1153218
Year Ended 31st December 2023
Contents
l. Annual Report
2. Statement of Financial Activities
3. Balance Sheet
io
4. Statement of Cash Flows
li
5. Notes to the Financial Statements
12-23
6. Report ofthe Independent Examiner
24-34

Annual Report of The Parochial Church Counul of the Eccleslastical Parish of
St Paul's, Warwick Road. Banbury
Registered Charity Commission Number: 1153218
Review of Church Activities for the year ended 31st December 2023
l. The Purpose of St Pauvs Church
The purpose of St Paul's Church. as agreed by the PCC. is expressed as follows-
To honourGod the Father by
living ourselves in the light of Jesus
caring for one another in the love of Jesu5
reaching out to others with the lrfe of Jesus
in the power of the Holy Spirit.
2. Governance, Proceedings of the PCC and Parish Activities
The Parochial Church Council of the Ecclesiastical Parish of St Paul's, Warwick Road, Banbury has
the responsibility of co-operating with the Incumbent in promoting in the ecclesiastical parish
the whole mission of the Church. pastoral. evangelistic. social, and ecumenical.
The PCC is also specifically responsible for the maintenance of both the Parish Church of St
Paul's, Warwick Road, Banbury and the St Paul's Church Centre, Prescott Avenue. Banbury.
2.1, Structure, Governance, and Management
The method of appointment of PCC members is set out in the Church Representation Rules. At St
Paul'5, the membership of the PCC consists of 10 elected members as well as ex-officio members
(made up of our churchwardens and synod representatives). The Church Administrator has been
elected as PCC Secretary. Churchwardens are elected by the Meeting of Parishioners for the
ensuing year,. elected members are elected by those on the Electoral Roll at the Annual Parochial
Church Meeting (for a period of three years}, as are synod representatives.
The PCC are responsible for making decisions on all matters of general concern and importance
to the Parish, including deciding how the funds of the PCC are to be spent. The Incumbent is
responsible for matters of doctrine.
The electoral roll for the Parish of St Paul's Banbury stands at 114 {108 in 20221-
When planning the church's activities for the year. the Incurnbent and the PCC of St Paul's
consider the Charity Commission's guidance on public benefit and in particular the specific
guidance on charities for the advancement of religion.
The PCC aims to enable all people, without exception, to come to faith in Jesus Christ and to
express that in loving service. This aim is fulfilled by providing opportunities for Christian
worship and prayer. pastoral care, and outreach work.

2.2. Administrative Infomlation
The following served on the PCC during 2023-
2.2.1. Ex-officio members
Incumbent Ivicarl & Chair.
Curates..
Wardens-
Re7/d Dan McGowan
Re7¥d Steve Short
Mike Moir (Vice-chairl
Abigail Patterson
Nelly Lukwo
Sue Castle (Administrator)
Marigold Short
Peter Preston
Wictoria Moir
Treasurer..
PCC Secretary".
Deanery Synod Representatives-
2.2.2. Co-opted Members
None
2.2.3. Elected Trustees
Jonathan Patterson {Assistant Churchwardenl
Timothy Howe
Mike Clark Ito April 20231
Matt Harcourt (from April 2023)
Fiona Wilkins {from April 20231
Jeannette Law {Children & Families Worker)
Margaret Clark
Sarah Preston
Annabelle Coombs
Lynne Denyer
James McKenzie
The work and activities of the PCC in the year 2023 are reported below..
Address-
The Church Office, Warwick Road. Banbury OX16 2AN
The Parish Church of St Paul'5 is situated on Warwick Road, Banbury. The
Parish is part of the Diocese of Oxford within the Church of England.
The PCC-
The PCC 15 a body corporate IPCC Powers Measure 1956. Church
Represerbtation Rules 20061 and a Charity registered with the Charity Commission.
The PCCS professional advisors are as follows:
Independent Examiner- Mr Simon Flynn FCCA- 20CedarClose, Banbury OX16 9HE
The PCUS Bankers..
Lloyds Bank PIC- Banbury Branch. 12 High Street. Banbury OX16 SEF
In 2023 the PCC met six times. It discussed key items for the regular running of church activities
to meet the church's objectives and included regular reports from key working groups. Full
minutes of the PCC meetings are available from the Church Office and displayed in the Porch at
Warwick Road.

New Members are briefed on their legal obligations under church and charity law, the
committee and decision-makin8 processes. the plans of the church and recent financial
performante. In particular. all trustees are required to undertake safeguarding training.
2.3. Standing Committee
The Standing Committee is appointed by and authorised to conduct the busine55 of the PCC.
In 2023. or part of, membership of the SC. consisted of.. Dan McGowan Ichairl, Mike Moir IVice-
Chairl. Sue Castle (Administrator). Abi Patterson. Jonathan Patterson, Mike Clark, Margaret Clark
Ifrom June 20231. Nelly Lukwo and Steve Short.
A separate Pay Review Body (Treasurer, Payroll, Churchwardensl reviews the pay and
remuneration of employees and reports to the SC. This is reviewed annually in line with the
Charitvs pay policy. taking into account inflation and benchmarking where appropriate.
2.4. Principal Risks
As part of its responsibilities the PCC maintains an overview of the various activities of the
church to ensure that the best current practice is followed. Policies are in place for the following
particular areas of the work of the church-
Safeguarding for the Protection of Chsldren and Vulnerable Adult5: This is an area where best
practice develops year by year. Following new guidance from Oxford Di0￿Se we have updated
some of our practices and training durin8 the year and the PCC has continued to give
Safeguarding its priority as a standing item every PCC meeting.
Insurante: The present Parish Plus policy with Ecclesiastical Insurance Group plc has been
renewed. This covers all the church buildings, including the church hall and parish centre for
significant costs. Our property at 10 Hardwick Park, jointly owned with Diocese of Oxford, is also
insured.
Health and Safety: The wlicy is reviewed regularly to ensure the safety of all users of our
buildings and those involved iTb pastoral visiting.
Building risks: The recent inspertions of the buildings used by the church and managed by the
Trustees revealed significant works required to deal with Maintenan￿ and repair and bringing
them up to a safe and sustainable condition. The PCC has actioned investigating many of the
major works required, having appointed a Church Architect, Christian Randall, on IO, July 2023.
The church's plan for the future is to continue to pursue its aims to know Jesus and to make him
known. Key activities for the year ahead include developing the role of our Associate Minister,
Rev'd Steve Short, with a view to specific missional outreach on the Bretch Hill Estate of our
parish and navigating potential changes to the structures of the Church of England. The PCC
considers there are two main areas of uncertainty as it looks forward-
Our regular expenditure is met each year from gNing in that year. We are very thankful to
everyone who has committed to give regularly. but we remain dependent on that giving to
continue our work. As a PCC we budgeted for a deficit. but we have managed to reduce the
expected figure. We are also reliant upon external funding for our Associate Minister and are
pleased to have secured grants for the first three years.
Building Project fundraising has continued during the year for the project to replace the church
hall and upgrade the church building at Warwick Road. The PCC appointed a sub-committee, the

Next Steps Team, to proBress investigating Options and doing the most urgent works such as
drainage at Warwick Road in conjunction with our Church Architect. whilst the Churchwardens
attend to necessary maintenance.
2.5. Church Activities- to honour God the Father in the power of the Holy Spirit
By living ourselves in the light ofJe5Us. Faithful Bible teaching and preaching every Sunday is the
foundation for our gathering and our shared life of witness together. We have had series at
Warwick Road based on: Revelation 4-22 (Jan-mar), Hebrews {Apr-Aug). I Samuel {Sep-Decl. At
the Sunshine Centre at 5pm, we have had series based on: Luke 9-11 {Jan-Mar), Easter mini-
series, James {Apr-Jull. Hebrews 12-13 (Aug}, Acts 1-4 ISep-Novl, Matthew 2 & Isaiah 9 IDecl. In
2023, the average combined attendance at both centres on a 'normal' Sunday was 1S012022-
1451 adults and children. Parish Prayer and the Bretch Hill Prayer Group are monthly
Èncouragements. We seek to resource and encourage our church members in their daily faithful
Christian lives. the main area where we live in the liEht of Christ.
By caringforone onotherin the love ofjesus. Our Grow Groups1102 adults involved in 9 groups.
including a new Bretch Hill group) meet weekly for Bible study and prayer to build each other up
in the gospel. The main focus being a deeper and more personal application of that week's
sermon exposition. Our children's Eroups for Primary age children were back running'as
normal.. as was the group for Secondary age. Pastoral visiting and families work continue to be a
blessing and a practical support. Our Grow Groups are undertaking the Biblical Counselling UK
course Real Change led by our Pastoral Co-ordinator in rotation. SHINE, a seNice specific311y for
those with learning disabilities and their carerf5. continues to meet on the 3rd Sunday afternoon
of each month. We re-established our Weekend at Home in the Summer. We are involved with
Deanery Synod and maintain our fabric and goods in healthy order.
By reoching out to others with the life o]Jesus. We maintain mission links worldwide, supporting
our mission partners. work financially and in prayer. Our World Church Group oversees our
commitment to supporting missions both overseas (% of our tithe} and in the UK IY41. Chat and
Play. Schools work, All Saints Eve community witfiess and Park Trails serve young people who are
within and beyond our regulars at church. We continue to have Significant links with Green
Pastures Nursing Home.

3. Financial statements for the year endlng 31st December 2023
The Statement of Financial Activities attached to this report shows the incoming and expended
resources for the year ended 31st Dec 2023. We praise God for his gracious provision.
particularly in the face of the challenging economic climate.
3.1. Income
Voluntary income decreased by 7.1%. The Hardwick Park property was rented and the revenue
it generated was £IOk. Due to high interest, the yield from slK>rt-term cash investment5 was
£36K.
3.2. Salaries
St. Paul's employed five members of staff in 2023. Salary costs increased IO% from £ 68k to
£75k. This can be attributed to salary increases and a5$0ciated costs for the newly appointed
Associate Minister.
3.3. Diocesan Parish Share
2023 was the last year of parish share increase. On 23rd January 2023. the St Paul's Banbury
PCC voted in favor of paying our Parish Share via the Oxford Good Stewards Trust.
3.4. Deficit
The deficit for the year on the general fund was £9k. which has been tsken from the reseNes.
The closing balance in reserve as of the end of 2023 15 £23k.
3.5. Buildings Project
The Buildings Fund now stands at £26k. The PCC set up this fund foT the repair, renovation.
replacement, or extension of any existing building{s). or the construction of any new buildingls),
to serve the parish of St. Paul's Banbury. (The fund is not to be used for routine maintenance
workl.
This fund was set up. partly due to the generous request from congregation members to provide
more flexibility when it comes to donating fund5 to ensure we have buildings to serve the
ministry here at St Paul's both now and into the future.
This more general building fund will serve building initiatives at both sites (such as reparations at
the Church Centre, Prescott Avenue). as well as continue to provide further support for the
ongoing Space BuildinE Project.
3.6. PCC policy on surpluses
The PCC'S policy is to invest all its surplus balances with CCL Investment {CBFI Church of EnEland
Managed Funds which now stands at £1.2m. It is PCC policy to maintain a balance on
Unrestricted Undesignated Funds which equates to a minimum of three month's budgeted
unrestricted payments.
We praise God for His generous providence. as we continue to depend on Him with confidence
to sustain and support His work in our parish and to move fO￿ard with our buildings project

and church plant at the Bretchhill estate. This will be a key focus of our prayers and financial
aims in the coming year as we seek to discern God's will for our church and our community here
in Banbury.
Approved by the PCC on I I
ARCH 2024 and signed on their behalf:
The Revd Dan McGowan- PCC Chair

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S CHURCH. BANBURY
Re8istered Charity no. 1153218
STATEMENTOF FINANCIAI ACTIVITIES
For the year ended 31 December 2023
Unrestricted Restricted
Funds
Funds
Total
Total
2022
2023
Note
INCOMING RESOURCES
Voluntary income
Income from investments
Church activitie5
Grant Income
2{al
21bl
21cl
21dl
125.915
3,(K)I
10.874
49.337
33.452
3,629
175,252
36,453
14,503
164,390
14,911
7,328
TOTAL INCOMING RESOURCES
139,790
86,419
226.209
186,630
RESOURCES EXPENDED
Missionary and charitable giving
Church Running Expenses
Other Church Activities
Diocesan parish share
Salary Costs
Space Project
Governance
31al
31bl
31cl
31dl
31e}
31fj
31gl
8.849
35.296
59
8,908
46.076
3,244
47,280
75.546
8,684
53,943
4,278
47,121
68,943
10.780
3,244
47.280
56.782
18.764
1.020
149,227
1,020
182,074
1,020
183,989
TOTAL RESOURCES EXPENDED
32,847
NET INCOME BEFORE TRANSFER
19,4371
53,571
44.135
2,641
GROSS TRANSFERS BETWEEN
FUNDS
{1,0571
1.057
NET MOVEMENT OF FUNDS
110,4941
54.628
44,135
2,641
Balances b/forward l January 2023
129.195
1.227.201
1,356,395
1,353,754
Balance5 clfonvard 31 December 2023
118.701
1.281,829
1,41X),530
1.356,395

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S CHURCH. BA14BURY
Reglstered Charity no. 1153218
STATEMENT OF FINANCIAL ACTIVITIES {continued)
For the year ended 310ecember 2022
Unrestricted Restricted
Funds
Funds
Total
2022
Note
INCOMING RESOURCES
Voluntary income
Income from investments
Church activities
Grant Income
21al
2{bl
21cl
2{dl
135,506
1.261
458
28,884
13,650
6.870
164,390
14,911
7.328
TOTAL INCOMING RESOURCES
137.226
49.404
186,630
RESOURCES EXPENDED
Missionary and charitable giving
Church Running Expenses
Other Church Activities
Diocesan parish share
Salary Costs
Space Project
Governance
31al
31bl
31cl
31dl
31el
31n
31gl
8.575
30,656
109
8.684
53,943
4,278
47,121
68,943
23.287
4,278
47.121
50,742
18,201
1.020
138,114
1.020
183.989
TOTAL RESOURCES EXPENDED
45,875
NET INCOME BEFORE TRANSFER
18881
3,529
2.641
GROSS TRANSFERS BETWEEN FUNDS
111.471)
11,471
NET MOVEMENT OF FUNDS
112,359)
15,0(K)
2,641
Balances blforward l January 2022
141,554
1,212,201
1.353.754
Balances c/foNiard 31 December 2022
129,195
1,227,201
1.356.395

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S CHURCH. BANBURY
ReglMered alarity •K•. 1153218
BALANCE SHEET AS AT31 Detember2023
Note
2023
2022
FIXED ASSETS
Tangible
10 Hardwick Park
150% of costl
Equipment
Less Depreciation
122.500
I22,5￿)
5,449
5.449
Total fixed assets
122.500
122,500
CURRENT ASSETS
Debtor5 and Prepayments
Short term deposits
CCLA Investment
40.894
28,512
1,173.878
1,137.424
Cash at bank and in hand
73.983
80.344
1,288.755
1.246,280
LESS CURRENT LIABILrriES
Creditors
10.728
12.387
Total net current assets
1.278.027
1,233,893
Total fixed and net current assets
1,400.527
1,356,393
Fund5
Restlicted funds
io
1.281.829
1,227,200
Unrestricted designated funds
li
95,277
96,334
Unrestricted
23,422
32.858
TOTAL FUNDS
1.400.528
1,356,393
Approved by the Parochial Church Council on
and signed on its behalf..
The Rev'd Dan McGowan IPCC Chairman)
The notes on pages 11 to 21 form part of these accounts.
10

PAROCHIAL CHURCH COUNaL OF ST PAUL'S CHURCH. BANBURY
Reglstered Charity no. 1153218
STATEMENT OF CASH FLOWS
Forthe year ended 31 December2023
Note
2023
2022
Cash flows from operatin8 arttvhties
Net cash provided by operatinB activities
12
16,361)
(19,2701
Cash flows from inVe￿Ing actfvlties
Interest from investments
Purchase of fixed assets
36,453
14,911
Net cash provkled byllused inl investing acth¥ities
36,453
14.911
Cash flows from financing activities
Change in cash and cash equivalents in the reporting
period
30.093
14,3591
Cash and cash equivalents at the beginning of the
reporting period
1,217,768
1,222,127
Cash and cash equivalents at the end of the reporting
period
13
1.247,861
1,217,768
11

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S CHURCH. BANBURY
Registered Charlty no. 1153218
NOTES TO THE FINANCIAL STATEMENTS
Forthe year ended 310ecember 2023
l. Accounting policles
al Accounting convention
The PCC 15 a public benefit entity within the meaning of FRS102. The financial statement5 have been prepared under
the Church Accounting Regulations 2￿6 in accordance with applicable 3ccounting standards and the current Statement
of R￿OrnMended Practice. Accounting and Reporting by Charities ISORP 2015 FRS1021.
The financial statement5 have been prepared under the historical cost convention and in pound5 Sterling. being the
chaflty's functional cuirency. rounded to the nearest pound.
The financial statements include all transactions, a55et5 and liabilities for which the PCC is liable in law. They do not
include the accounts of church groups that owe their affiliation to another body. nor those which are informal
gatherings of church members.
The PCC ha5 chosen to voluntarily apply the accruals basis to these accounts as it provide5 a moTe accurate picture of
the charity's activities. It has taken advantage of the disclosure exemplion of the Charity SORP, as a smaller charity,
including the exemption from preparing a cashflow Statement.
b) Funds accounting
Funds held by the PCC are..
Unrestricted funds
Designated funds
These are general fund5 which can be used for PCC ordinary purposes.
Monies set aside by the PCC out of unrestricted funds for specific future purposes or
projects.
al Incowne from trusts or endowments which may be expended only on those restricted
objerts provided in the terms of the trust or bequest..
Restricted funds
bl Donations or grants received for a specific object or invited by the PCC for a specific
object. The fund5 may only be expended on the specific object for which they were given.
Any balance remaining unspent at the end of the year is carried forward as a balance on that furld. The majority of the
balance (If relates to the Space Project 3nd is held in anticipation of expenditure on that building project.
cl Incoming resource5
All incoming restsurces are accounted for gross.
Planned giving, collections and Similar donatiorbs are recognised when received. Income tax recoverable on Gift Aid
donations is recognised when the incoming iesovice to which they relate is received. Grants and legacies are recognised
when the PCC is legally entitled to the amount due.
Dividends and interest are accounted for when due. All interest is received without deduction of tax.
dl Resources used
Resources expended are accounted for on an a£cruals basis and are accounted lor gross.
The diocesan parish share contribution is accounted for when paid.
All other expenditure is generally recognised when it is incuried and is accounted for gross.
12

PAROCHIAL CHURCH COUNCII OF ST PAUL'S CHURCH. BANBURY
Regt5tered Charity no. 1153218
NOTE5 TO THE FINANCIAL STATEMENTS
Forthe year ended 31 December 2023
l. Accounting policies {continuedl
e) Fixed A55etS
Tangible fixed assets
Consecrated and beneficed property of any kind is excluded from the accounts by s.10(21131 & Icl of the Charities Act
2011.
Movable church furnishings held by the vicar and churchwardens on special trust for the PCC, and which require
faculty for disposal. are accounted as inalienable property unless consecrated. They are listed in the church's Inventorv
which can be inspected lat any reasonable timel. All expenditure incurred in the year on consecrated or beneficed
buildings or on the repair of movable church furnishing is written off.
Depreclation
Depreciation is calculated to write down the cost of tangible fixed assets, excluding freehold properties, over their
expected useful lives. Equipment Used within the church premises 15 depreciated on a straight-line basis over four
vears. Individual item5 of church equipmenl wÈth a purchase piice of £500 or less are wiitten off when the asset is
acquired.
No depreciation is provided on freehold property a5 It is the PCC'S policy to maintain these assets in a continual State of
sound repair. The useful ecorbomic life of these assets is so long and residual values so high that any depreciation would
not be material. These assets will be subject to annual impairment reviews_ Provision will be tnade if there has been
any permanent diminution in value.
fl Current Assets
Arnounts owing to the PCC at 31 December 2023 in respect of fees. rents or other income are shown as Debtors and
Piepayments.
Short-term deposit5 include cash held on deposit either with the CBF Church of England Funds, or at Lloyds Bank.
gl Pension costs
The charity makes defined contribution pension payments for eligible employees. Once the contributions have been
paid, the charity has no further oblig3tions. The contributiorhs are recognised as an expense in the period.
13

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S CHURCH. BAN8URY
Regisiered Charlty no. 1153218
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2023
2. Incoming Resources
Total
Funds
2023
Total
Funds
2022
Unrestricted
Funds
Restricted
Funds
Note
Voluntary income
Donations
Gift aid recoverable
Legacies
2{a)
105,847
20,066
49.337
155.185
20,067
140,328
24,062
125,915
49.337
175,252
164,391
Income from Investments
CBF C of E Investment Fund
21b)
3.001
3.001
33,452
33.452
36,453
36,453
14,911
14,911
Income from church activities
Fees for weddings & funerals
Hall1ettings
Ministry Events
Miscellaneous
2{c)
1,378
9,497
2,513
3,891
9,497
1.116
3,394
266
3,668
1.116
10,874
3.629
14.503
7,328
Grant Income
BCUK Funding
21d)
TOTAL INCOMING RESOURCES
139,790
86.419
226.209
186,630
Total aggregate donations without conditions received from trustees was É39.782
14

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S CHURCH. BANBURY
RegTrste￿d Charity no. 1153218
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2023
2. Incoming Resources {continuedl
Total
Funds
2022
Unrestricted Restricted
Funds
Funds
Note
Voluntary income
Donations
Gift aid recoverable
Legacies
2{a}
112.793
22.712
27,534
1.350
140.328
24,062
135.505
28.884
164,389
Income from Investments
CBF C of E Investment Fund
Lloyds Bank Deposit Bond
21b)
1.261
13,650
14,911
1,261
13.650
14.911
Income from church activities
Fees for weddings & funerals
Hall lettings
Ministry Events
Miscellaneous
2{c)
192
3,202
3.394
266
3,668
266
3,668
458
6,870
7,328
Grant Income
BCUK Funding
2{dl
137,225
49,404
186.629
15

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S CHURCH. BANBURY
Reglstered Charity no. 1153218
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2023
3. Resources Expended
Total
Total
Unrestricted
Funds
Restrirted
Funds
Funds
2023
Funds
Note
2022
Missionary and charitable giving
Overseas Mission
UK Mission
Special Collections
3(al
6.119
2,730
6,119
2,730
59
6,175
2,400
109
8,684
59
8.849
59
8.908
Church running expenses
Children's and families work
Building5 maintenance and running costs
Sunshine Centre Rent
Hardwick Park
Office Costs
Evangelism & Socials
Clerey Expenses
Depreciation
Other
3{bl
921
856
1,777
19.744
1,030
417
1,714
23,563
19.744
1,030
417
3,084
3,419
2,921
3,325
970
14,949
53,943
3.672
4.523
2,934
3.672
5,299
2,934
776
2.055
35,296
9,148
10,780
11,203
46,076
Other Church activities
31c)
3.244
3,244
4,278
Ministry . Diocesan parish share
3{d)
47.280
47.280
47,121
Salary Costs
31el
56,782
18,764
75,546
68,943
Space Project
311)
Governance
Independent Examination Fee
31g)
1.020
1,020
1,020
TOTAL RESOURCES EXPENDED
149,227
32.847
182,074
183.989
16

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S CHURCH. BANBURY
Registered Charity no. 1153218
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2022
3. Resources Expended {continued)
Total
Unrestricted Restricted
Funds
Funds
Funds
Note
2022
Missionary and charitsble giving
Overseas Mission
UK Mission
Special Collections
313)
6,175
6.175
2,400
109
109
8,575
109
8.684
Church running expenses
Children's and families work
Administrator
Buildings maintenance and running costs
Sunshine Centre Rent
Hardwick Park
Office Costs
Evangelism & Socials
Clergy Expenses
Depreciation
Other
31b)
1.669
45
1,714
18,563
23,563
526
2.558
3.084
3,419
2,921
3.325
970
3,419
1.723
3.325
1,198
970
1.432
30.656
13,517
23.287
14,949
53.943
Other Church activities
3(c)
4,278
4,278
Ministry . Diocesan parish share
3{d)
47.121
47.121
Salary Cost5
31e)
50.742
18,201
68,943
Space Project
31n
Governance
Independent Examination Fee
3{g)
1,020
1,020
TOTAL RESOURCES EXPENDED
138.114
45,875
183,989
17

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S CHURCH. BANBURY
Registered Charity no. 1153218
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2023
31el. Staff Costs
2023
2022
al Wages and salaries
bl National Insurance
cl Pension contributions
72,361
65.758
3,185
75,546
3,185
68,943
During the year the PCC employed a Children and Families Worker full time and also an
administrator, an operations manager. pastoral worker and a hall cleaner part time.
No employees earned more than £60,000.
The Vicar is not included in the total salaries. This is because stipends are met under Church of England
arrangements and not by the PCC.
A second curate was directly stipended by the PCC from July 2020 until September 2023
dl Payments to PCC Members
No payments (remuneration or expenses) were made to PCC members in their capacity as trustees.
The following trustees were also employees of the charity and received remuneration in this capacity
as follows..
2023
Pension
2022
Pension
Salary
Salary
Sue Castle (Administrator)
Jeannette Law (Children and Families Worker)
Steve Short ICurate/Assotiate Minister)
Annabelle Coombs
Total
6,502
31,809
17.743
10.834
66.888
6.034
30,294
10,200
10,318
56.847
2.545
1.419
867
2,376
816
809
4,001
4.831
There were no other related party transactions during the year requiring disclosure.
5. Analysis of transfers between
funds.
2023
Unrestricted
Restricted
Furbds
Funds
2022
Unrestricted Restricted
Funds
Funds
Capital Reserves
Depreciation
Pastoral Worker Fund
12.5581
19701
17,9431
2.558
970
11,0571
1.057
7,943
11,0571
1.057
111,4711
11,471
18

PAROCHIAL CHURCH COUNCIL OF ST PAUI'S CHURCH. BANBURY
Re8i5tered Charity no. 1153218
6. Fixed Assets
Church Freehold Land
Equipment
& Buildings
Total
Actual/deemed cost
At l January 2023
Additiorbs at cost
At 31 December 2023
5.449
122.500
127,949
5,449
122,500
127,949
Depreciation
At l January 2023
Charge for the year
At 31 December 2023
5,449
5,449
5,449
5,449
Net Book Value at 3111212023
Net Book Vallre at 3111212022
122.500
122.500
122,500
122,500
19

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S CHURCH. BANBURY
Registered Charity no. 1153218
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2023
7. Analysis of Net assets by fund
Unrestricted Unrestricted Restricted
Funds
Designated
Funds
Total
Funds
2023
Total
Funds
2022
Fixed Assets
122,500
122.500
122,5(K)
Current assets
34.150
95,277
1,159,329
1.288,756
1,246,281
Current Liabilities
110.7281
(10.728)
112,3871
23.422
95,277
1,281,829
1.400,528
1,356,394
8. Debtors
2023
2022
Gift aid recoverable
Prepayments and accrued income
38,951
1,943
40.894
28,512
28,512
9. Creditors.. amounts falling due within one year.
2023
2022
Accruals for utilities
Payroll accruals
Other accruals
2.213
1,618
5,877
9.708
564
4,067
7,756
12.387
20

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S CHURCH. BANBURY
Reg7sterÈd Charity no. 1153218
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2023
10. Statement of Restrirted Funds
Bal blfvid
11112023
Transfers
2023
Income
Expenditure
2023
Bal clfwd
3111212023
2023
Curate's Property Investment Fund
Children and Families Worker
Youth Summer Camps
Weekend at Home
Church Fees Account
Shine
Hard Times Emergency Fund
Mission Funds Ispeci*icl
Space Project Restricted
Curate Isteve Shortl Stipend Fund
Ukraine Funds (European Mission Fi
The Buildings Fund (Restricted)
Men's Dav
Jeanette Law Gift
Associate Minister Furbd - PCC
122.5
122,500
856
856
907
907
176
176
3.244
3,244
902
1,903
2.878
20
i.ooi
5,627
2,749
20
1.085.789
6,753
39
33.532
5,960
7,676
12.713
39
1,111,646
6.235
19.902
600
26,137
6(KS
14,011
14,011
Total
1.227,200
80.855
26,227
1.281,828
Bal blfvid
11112022
Transfers
2022
Income
2022
Expenditure
2022
Bal clfwd
3111212022
Curate's Property Investment Fund
Children and Families Worker
Youth Summer Camps
Weekend at Home
Church Fee5 Account
Training Fund
Shine
Hard Times Emergency Fund
Mission Fundslspecificl
Space Project Restricted
1.070.826
Curate's Stipend Fund
8,430
AV Fund
5.000
Ukraine Funds IEuropean Mission Fellowship)
The Buildings Fund IRestrictedl
Gift foi Eggertsens
122.5(KJ
122,500
907
220
1.154
4,392
1.198
4,392
176
I.￿3
2,394
20
1.903
2,878
20
200
27.138
7,860
12.175
9.537
5,000
138
1.085.789
6.753
177
39
6,235
6,235
1.2(X)
48.840
1.200
33,840
1,212.200
1,227,200
21

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S CHURCH. BANBURY
Registered Charity no. 1153218
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2023
10. Statement of Restricted Funds (Continued)
The restricted funds have the following Purposes..
Curate's property Investment- to hold the investment in 10 Hardwick Park to be used to house curates
training at St Paul's
Children and Families Worker- to fund the Children and Families, worker costs
Youth Summer Camps - To support our young people and leaders to attend Christian summer camps
Weekend at Home/Women's Day - In alternating years. this fund covers donations and expenditure
to support the running of the weekend at home and women's day events.
Pastoral Worker Fund - to use donations to fund pastoral worker
Church Fees Account- to process fees relating to the occasional offices.
Men's Day- to cover donations and expenditure to support running occasional men's ministries.
Shine- to cover donations to support our work with those with disabilities and learning difficulties
Hard Times Emergency Fund - to support those in hardship. through loans or financial support.
Mission Funds {specific} - to cover specific donations and support for visiting missionaries
Space Project Fund - to fund the building project at Warwick Road for a replacement church hall
Training Fund - to fund training for lay and ordained members of the congregation or staff team
Covid Expenses Fund - to fund expenses in relation to church activitie5 in response to the Covid Pandemic
Curate (Steve Short) Stipend Fund- to fund a stipend for curate not funded by the Diocese
AV Fund- to fund the overhaul of the sound/streaming seNices at WR
Ukraine Funds (European Mission Fellowship) - to channel funds donated to EMF
The Buildings Fund - new restricted fund for the repair. renovation. replacement or extension of any
existing buildinglsl, or the construction of any new buildingl51, to serve the parish of St. Paul's Banbury
Gift for Eggertsens- to channel gifts donated towards Eggertsens
11. statement of Unrestricted Designated Funds
Bal blfwd
11112023
Transfers
2023
Income
Expenditure
2023
Bal clfvjd
3111212023
2023
Fixed A55ets
Capital Projects Reserve Fund
Pastoral Worker
The Building Fund IDesignated by PCCI
37.221
1.057
58,056
96,334
37,221
1.057
58,056
95,277
1.057
Bal blfwd
11112022
970
39.779
Transfers
202Z
Income
Empenditure
2022
Bal clfwd
3111212022
2022
Fixed Assets
Capital P¥ojects Reserve Fund
Pastoral Worker
The BuildinE Fund (Designated by PCCI
970
2.558
7,943
37.221
1,057
58,056
96,334
58.056
107.805
The unrestricted designated funds have the following purposes-
11.471
Fixed Assets- to hold funds designated for expenditure on fixed assets used for the long term in
activities of the church.
Capital Projects funds set aside for repairs to the fabric or contents of our church buildings.
Pastoral Worker Fund - to fund the employment of a pastoral worker
Space Project Fund to fund the building project at Warwick Road for a replacement church hall
22

PAROCHIAL CHURCH COUNCII OF ST PAUL'5 CHURCH. BANBURY
Registered Charity no. IIS3218
NOTESTO THE FINANCIAL STATEMENTS
For the year ended 31 December 2023
12. Reconciliation of net income/lExpenditure to net cash Ilow from operating activitie5)
2023
2022
Net income for the reporting period 35 per the
statement of flnanclal actlvltles
44.135
2.641
Adlustments for-
Depreciation charges
Inte¥est on Investments
Ilncreasel in debtors
IDecreasel/increase in creditors
970
114.9111
15,9101
12.0591
136,4531
112.3821
12,6791
Net Cash provided by operating artivities
(7.3801
119.2701
13. Analysls of cash and cash equivalents
2023
2022
Cash in hand
Notice deposlt5 Iles5 than 3 month51
73,983
1.173.878
80,344
1,137,424
Total Cash and cash equivalents
1,247.861
1,217.768
23

PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S
BANBURY
I rcporl to the trustees on my examination of ihc accounts of Ihc above charity ("the T￿St"} foi the year
ended 3111212023
Re5POTbsibilities and basis of report
As tlie chclrity's IrLisIccs, yoil are respunsible for the prepardtion of the accounts in accordance witli the
r¢quirements of the CharitiC5 Act 2011 ("the Act").
I report in respect of my examincltion of the Trusi's aLcounts carried out under section 145 of the 2011
Act and in carrying out iiiy ex8minalion, I hai'¢ folloii'ed all the applicable Directions given by the
Charity Coinmission linder section 145(5Mb) of ih¢ A¢t.
Independent examiner's stateTnen¢
I hiliie conipleted my cxaminalion. I confirm that no inaterial iy]alters hai'e Loine lo my attei)tion iii
¢onn¢¢tion witli the examination iyhich gives me cause to believe ihat iii, any ma¢etial respect=
the occounting records ivere not kept in aCCorda￿e ivith section 130 of the Charities Act; or
the accounts did not accord iviih ihe accounling records- or
th¢ accoiints did nol comply ivith the applicable requireni¢nts concerning the torin Jnd
content of accoiinls set out in thc Charilics (Accounls and Reports) Rcgulatioi)s 2008 other than
any requirement that the accounts give a 'tnic and fail. I'icw which is t￿t a matlcr considered
as part of an indcpcndent examination.
I have no concerns and have ¢ome across no other mattcrs in conncclion ivith the examination to ivhich
attention should bc draivn in this rq)ort in order to enable a propcr UTKlcrstanding of the
accounts to be reached.
Mrs R Flynn FCCA
20 Cedar Close
Banburv
Oxfordsliire
OX16 9HE
Date: 1910412024