ST GILES CIIURCH HORSTED KEYNES ANNUAL REPORT FINANCIAL STATEMENTS ofthe PAROCHIAL CHURCH COUNCIL for the year ended 3 1st December 2022 P88eB I to S SwellxDt of Fin11 A¢tivities (SOFA) Page 7 Baian¢e Shert Pa8e 8 Notes to Fill1a1 Stst¢D)ents Pa8es 9 to 14 The thss of the recory iy:. The R£¢tory, Ststion Ro*1 Horst¥J Keyne& HAYWARDS HEAnL RHI 7 7ED. The PCC bank8 primarity with:. CAF BANK Limitoa n8s Hill. West Mallin& Keth. ME19 4T Mr A P Peel Cmss HAYWARDS HEATH. RH17 7AY. CHARrrY COMMISSION REGIThTION The PanKhial chtsh Council is a re dHTity. No. 1154482.
HORSTED KEYNES PAROCHIAL CIIURCH COUNCIL Registered Charlty Number 1154482 ANNUAL REPORT for 2022 AdmlnlstrAtlvc inform8ti011 SL Giles Church (Grade I lis¢ed) is situated itt Church Lane, HoTSted Keynes RH17 7AY. It is part of the DEoccse of Chiehester within th¢ Church of England. All correspondence should be addressed to HKPCC. The Martindale Centre, Station Road, Horsted Keynes, Haywards Heatb, RH17 7ED. St Giles ChuTch Horsted Keylles is a registered charity t]umber 1154482. During yeat tbe fullL)wsJJg served a5 rncb¢rs of the Parochial Church Council (PCC).. Rector. Fr David Murdoch (PCC Chairn]at]) Chllrchwardens.. Mrs Barbarn Fairweather Mr John Whiting (elected April 2022) (elected Apnl 2022) Deanery Synod Representatiye.. Mr5 Heidi Mowforth (until 2024) Elccted Mernbers.. Miss Judith Bowroy] Mr Martin Govas (Trea5urerl Mr David Lamb Mr Barry Reed Mr Per Vittee Mr John Nvhiting (until 2024) (until 2024) (until 2025) (until 2025) (until 2024) (until 2024) Co-opted Membcf.. Mrs Marion Lott (ex-officio, MCMC chair) The PCC mde the folloivlng ppointments: PCC tnillutes secretary Mrs Marion Lott Parish S&feguarding Officer Mr Duffy Parry Electoral Roll Officer Mrs Fiona Price Structvr< governance Msnageellt Membership of the PCC 15 detern]ined under the Church Representation Rules and consists of ex-officio members IChurchwarden(s), the members of the Thocesan and Dtantry Synods), the chaimian of the Martindale Centre Managcmcnt Committee (co-opted), and 7 members uf the Lhurch who are elected at the Annual Parochial Church McctiDg (APCM). The PCC Secretary and Treasurer are ele(d by the PCC. The PCC is responsible for a wide range of matters affeciing the parish and, in their capacity as ttustees, members of the PCC are responsible for the stewardship of fill$, the appropriate accounting and reporting of parish fittdnces, and compliance with le8islalion dpplyinx to health and safery. dibability. and safeguarding children and wlnerable adults. The PCC joins and wiites the work of the Church, iL% commiltee5, school governoTS and the Friends of Horsted Keynes Chllreh. Page I
HORSTED KEYNES PAROCHIAL CHURCH COUNCIL Registered Chrdrity NuD]ber 1154482 AIYNUAL REPORT for 2022 (Continued) The following comtnrttees are responsible for variou5 &spects of the te5ponsibilities and busines5 of the PCC. attd report the PCC.. Sionding Commitiee.. is a st¢¢ring wup. which has power to tr¥nsad the business of the PCC b¢twttn its meetings. Finance Committee.. ovcrsecs the general fmancial dimcnsion of the work of St. Giles's by monitoring income and expenditure, budgeting attd establithin8 and reviewing 8PPTopriaic financial controls. The Finance Commiuee employs the scrvites of Mr St¢ve Brentnall to ve OLcounting and strategic advice and to prepare the ManagemeDt and Annual ALCOUllts. Mar¢indale Centre Manag¢ment Committee: managcs th¢ thy to day adminislralion and maintenance of the Martindale Centre. Fabric Commitlee.. oversees maintenan¢¢ of the Church building and fabTi¢. Churchyard Commitlee.. is responsiblc for the maintcnince of the chw¢hy8rd and safety aspects of the ar¢& For all the Family Group.. an inforn¢l wp which meets about once a month to plan th¢ next monthly 'For all the Fwnily. EucharisL and aspire5 lo Tekirtdl¢ a Sunday club. Friendf ofHor.Tted Keynes Church.. cxi5ts 10 help, both with fillIng aTNI in oth¢r practical ways. th¢ maint¢nanrK. repr4ir, beautificaiion and development of the ¢hur¢h buildin& i15 5onS and its churchyard. He*lth and Safety The PCC makes provision to collsider h¢olih and safety Iu¢$ at ¢very meetm¥ with an ¢y¢ to overseeing and updating the risk asSeMent under ongoLDg scrutiny by ChUb otriecrs across ¢ommitt¢es who develop 6yst¢ms and procedures to manage the risks in th¢ir separaie spheres. Mr John Whitins Lvntinued os Health and Safety Offi¢¢r. SAfeguardlD8 The Safeguarding Officer reporL$ to the PCC on a regular b&si8 and the PCC makes provision io consider safeguarding iS14U¢$ at every meeting. The PC.C ha5 complied with the dury to have 'du¢ regard. to the House of Bishops, Safeguarding Policy and Practice Guidarwe. Publlc Beneflt The PCC. 4Lknowlcd8e5 its rcquiremcnts lo dcmonstrate ¢lLW]y thaL as a charity aimin8 to advance religion, it must havc charitsblc purposes or'aim5' that are for the public benefiL D¢tsils of how the PCC has achieved this are providcd in this report. Alm and purpos¢$ The PCC works with the Rector to facilitsle th¢ worship of Almighry God. growth of the Christian Chwch and 5crvice to othcrs in and b¢yoTMI the parish in accordan¢c with Jesu5. ¢ommalldmen( love ow neigbbour. With these key aims lrt mind. Horstcd K¢ynes PCC has e5tsblished objectives in its current Mission Action Plan IW). Our Vifion is "To become be¢ierfollowers of Chrisi by loving Gthland lovwg others". Our agreed initiatives to achieve our objectives are split inio IWO 8nMlPS. the f51 aittied at becominB better disciples (You Shall love the Lordyoyr Cyod with ullyour heort, and with all}UrS0I, and with all}r mtll, and the s¢cond at b¢corning betttt servants (Y(N 5kn11 lovtyour newhbour osM)wwlJi. Page 2
HORSTED KEYNES PAROCHIAL CHURCH COUNCIL Reglstered Charity Number 1154482 ANNUAL REPORT for 2022 (contlnued) Rector's Report We had two big surprises in the parish. Just before Chrismias {20211 th¢ Diocesan Director of Ordinallds had rnng to ask if I would consider having a Cllrate. When $om¢one is first ordained, they work with a more experienc¢d priest for three to four year5. Just as the Africans say it takes a village to raise a child, 80 it takes a parish to tyain a Curate, so this 15 a responsibility and an honour not onLy for ]ne, but for us all. Thus. after due preparation, Fr Peter Sutton was ordailled Deacon early in July and begatt his ministry here. He is already proving to bc a great asset and blcssin8. Like many Clergy now, Peter i5 self-supporting, Iiv]ng and workittg four day5 a week as an Estate Manager at Warninglid, and corn8 here for ttvo days. When a parish is vacani the Bishop may suspend the living. This hÈppened after my predccessor, Canon John Twistleton lefil meaning that I was appotnted Priest-in-charge rather than Rector Uncurnbcnt) After five years the sllspcnsion has to either lapse or be reimposed. Bishop Martsn decided ours would lapse and invited the PCC to considcr my bcing appointed Rcctor. rather thdll going through the whole proc¢5s of finding a ncw R¢ctor. l aTn humbled and glad that they agreed. and so, in Decernber, I was inducted alld illstituted a8 Rector by Bi8hop Ruth and Ar¢hdea¢on Angel&. Jt makes hardly any differencc to what I do but gives me greater securiry of t¢nure. Although Ci)vid lockdowns and other restriction8 hdd ended we d¢cided to again hold two Christingles, both in 2021 and 2022.123Td & 24 December). These and the Midnight and lStMaS morning Eucharists were w¢ll attended. In late January I was ple&sed to attend the welcome service for Fr Raglan Hey-will as RC Paxish Priest of St Paul, Haywards Heath. and that has continued to b¢ a good relationship. On the last Sunday it was a great joy to baptize two children and two adults from the Mitchell family in the village. In February we said a fond farewell to Fr Mi¢hacl Maine Vityar and RuTal Dean of CuLkfield. He had been a great support to the parish during the vacancy. to rnc sit]C¢ Tny arrival, and to all the Deanery clergy durins Covid. In Much the Archbishop of Canterbury visited the Dioc¢s¢ and addressed a gathering of the rurdl clergy. Iknng Lent we studied a Diocesan course using works of art, and again held Station5 of the Cross ott Saturday evenings. Wcckly prayets began to be held for the building of our churGh annex. I bcgan to be trained myself in order to train Fr Peterl In April my 93 year old father's health began to dctrriorate and I was very leful for all the support and prayers you gave me. John Whiting replaced David Lamb as Churchwarden at the APCM and is wamily welcomed and appreciated. Early in June, church and village ullited in great celebrations of the record br¢aking Platinurn Jubilee of OUT late Queen Elizabeth 11. July saw the very sad retirement of Heather as events organizer at W¢stsll House, because of poor health. We had had a good working relationship as regards Commutsions at)d other ways of Church involvement there. How¢ver, she h&5 b¢en repla¢¢d by Naomi who is continuing and developing this. In our family, my father dÈ¢d, and our son, Simon. got engaged to his Thai (then) girlfriend Ncttie. AgaitL w¢ were so gr&tcful for parisli support in times of both sathiess and joy. Septemb¢r saw the death of our much loved forniet Queen and accession of 'nE Charles III, her loss marked, among so many ways, by a Book of Condolettce and Service in Church. My wife Christine, and Katie Spetch. with helpers, start¢d a tenn time Friday after School Club (ID School) at which children eT]joy faith and fiul. In Octobcr a nuTnber of us dtt¢nded a Choral Even50ng in Chichester Cathedral to 5cc Peter Vince (among others) r¢ceive the Ord¢r of St Richard, in recognition of hib e8t service to our church over so many years.. #s three times Chllrchwarde cycling pilgrim fundraiser, sacristan. Server, io name but a fewl A highlight in Nov¢mbei for me wab go?ng with our local Ukranian families for a Bluebell steam lights train ridE which th¢ railway v¢ry commendably provided free of charge. Decelnber, of course, involv¢d all the usual joy and busyness ofBluebell Carols, School carols, Carols on the Green, Westsll Christsnas Servic¢ and Church Christmas S¢rvices. Page 3
HORSTED KEYNES PAROCHIAL CHURCH COUNCIL Registered Charlty Number 1154482 ANNUAL REPORT for 2022 (continued) These are somc of the bighlights. They are interspersed by th¢ 'usual'_ but 8CDJally very signifi¢aDt- round ofprayer and worship, vi.siting and meetings. adminLstrats"on. bapiisrns, marriages and fimerdls and continuing our very irIn[ relationship with St Giles Church of Ellgland Voluntsry Ai(kd S¢hool. The APCMS are an opportunity to thank pcople too numerous ¢0 m¢ntion by naTDe 8nd. as ojways. l apologise if I leave anyone out.. Fr Peter for being such an excellent collcague. Churchwordens, Secretary. Treasurer. PCC member8,' Organist, pianists and choir.. server5, sid¢S-0p1c, sacristans and verger. clean¢rs, ¢hurchy8rd workers and flower arrangcr5. These and others are so irnportant in caring for the chwch building and puoehiai MinISt[all0n. Then th¢r¢ are those- some the same. some differ¢nl- who do so much in tern of our outreach.. headteacher and sthff at St Gil¢s' School, P & P Editur, leaders and helpers at First Steps. Friends of HK Church, Friends of our Church School, HKaf¢, HK Hclp. Lifc and Faith Group, Villago lun¢h- all who lead on our bi-monthly church charities. All the folk who simply tum up to bc part of OUT worshiping conllnunity. tASt bui by no m¢ans lets4 my de wif4 Christini for ail h¢r support in so very many way$. It is a gre joy and bltA8 serve in w¢b a special villa8e. with a warm and supportive con8regation and comrnunity, v¢ry beautifvl Church and lovely Recl¢)ry. And. &s if all that were not cnou8h. to be Chaplain a steam pr&4¢rvation railway. May we all continuc to love and setvc God. each other and all the people of this parish through 'The grace of Our Lord J¢sus ChrisL th¢ lovc of God and the fcllowship of th¢ Holy Spiri(,. Aehlevements Ind P¢rformAD¢¢ The eleetoral roll wag reviewed. 119 were on thc roll 81 the y¢AT¢nd of whom 20 are noi resident wthin in the parish. Th¢ Jnaximwn ttumber hllendin8 OD any Sunday in October w85 68, in¢ludin8 12 children. the Jv¢rag¢ fs8llre being 45. Both these fi8ures include people att¢ndin8 by Zoom. 22 people Aitertded the All Souls Requi¢m. with 20 thking Communion. Attendance 8t Services has infftased. though not yel back to pre-pandemic levels. The Zoom invitstion 1$ sent in05t Sundays io the majority of those included on the Electoral Roll bui there are usuglly only a few attendees. Home Communion visits have rcstarted, including to the r&sidents of Wastsll House. Two Chn'stingle Serviees were held, led by Fath¢r Pet¢r, and were well attended. Pre-Ix)okin8 was not r4uir¢d this yw beuSt Covid r¢striction& h&d b¢¢n r¢laxed. Th¢r¢ w¢rc I I regular P.C.C. meetings throughout the year and l ¢xtraordinary on¢ to agree the wointrn¢nt of Faih¢r David Murdoch 8$ Re¢tor of .8t. Cjiles. The were 811 in person, with some tskin8 placc in the Martindale Ccntre and si)me in the Rectory, in order to redu¢¢ h¢atsng costs. All sub-Comrnitt¢es met as required r¢tK>rtin8 to the P.C.C. and li8ising with Father David. 2 children and 2 adulis were baptised. ThaE We 2 wedding5 and 8 fi¢[al5. HKPCC highlights of church life for the benefit of the Community Includ in 2022.. Chichester DI¢san Lcnt Course. 'Comfort ye rny people, was followed at two places and times. HK-Hclp continue to provid¢ supp)rt to the community. including transport for medical needs, as rcquir¢d. though thcre is little demand. IIKafc continues to bc held at the Martindale certe, led by thc Youth Worker from All Saints Church an¢hill, Josh Watson and catering for sccondary sch1 age children. First Steps, th¢ baby and toddlcr group, rneets At the Martinda]e C¢ntr¢, giving an opporttmity for small children and their por¢nts and carers to meet in a safe environmenL St. Giles Church of End Prirnary School hold5 a w¢¢kly Colleciive Worship in church and a ternly Eucharist. All services are aryend¢d by a significant numb¢r of parthts at]d carers. Th¢ Jwiior School Carol Servirx was held th ¢hur¢h and was very wcll arr¢nd¢d. Village Lunch is held monthly the Manindale Centre. Food ts cooked by a varied team of volwJt¢crs and is ¢njoyed by a good number OrppIC, from th¢ village and twond. The Friends of Horsted Keynes Church IFOHKC) ¢oniinucs to SUPFth (und r8ising to maintain the fabric of the ehurc and th¢ churchyard. This included an AuctsoD of Ptumises and carly ill 2023, a v¢ry CC[U1 productlOD of Aladdin. The Parith alld Parisbioner (P&P) eth.tor cotttinues to tce and publish the Tnagazin¢ 10 IeS a year. Volunt¢¢rs collate aDd distribuit these to ail hou5cs in the village Ond copies are posted to those requesting them. Page 4
HORSTED KEYNES PAROCHIAL CHURCH COUNCIL Registered Charity Iyumber 1154482 ANNUAL REPORT for 2022 (contlnued) FInanCl Revlew l. The net ineome in 2022 was £42.113. This figur¢ is shown oll page 7 and cotnpares with the 2021 surplus of £4,992. 2. Table 2la) strlows that the value of donations and le¥acits receivcd was £128.983 (£87.684 in 2021). The principal causes of this substantial increase were the improvement in planned VIng of £5.CiIO. a number of don8ti0t to the annex project aA)d a legacy gift of £20.(K)O received by th¢ Fri¢nds of the Church. Table 2{¢) shows a retrjrn lo nomal l¢ve]s of FWhdraID8 al Hall (Martindale C¢ntre) Income following the liftin8 vf Covid restri¢tions. Table 3(b) shows tbai. although as usual six chariiiGs wcre nominat¢d for special collectsons, givÈng fell from £6,822 in 2021 to L4,607. Expenditurc of £5.950 {£22.0¥7 in 2021) Major repairs and fobric WdS low. Thi5 W bec&u8e the quinquennial 1nspccts.on of th¢ fabric and eleckncai y¥t¢ wrnpleted during the year rev¢a]¢d no Major issues requiring Lmrnediate attention. The Parish was again able to fully cov¢r the ¢ontribuuon requested by the dioce&e for a half turLe priesL 5. The Martindale c.tre achieved Lnwm¢ of £122711£8.941 in 2021) and running costs were £10.868 (£9.171 in 2021). Additional rnoney was spent on stren8th¢nin8 th¢ ¢ntrance floor4 so th¢ ov¢r411 sutplus was £716. 6. Trusicc paym¢nL% and expenscs". thc PCC supported the clcrgy by paying th¢ ¢(K8t of rectvry uiilities amounting to £3,811312021 = £3.876) plus other annuthl costs towards irov¢l. telephone. wstagc brdband 4mL>untin¥ iu £1,25512021- £792). These are included in table 3(b). Thert were cxpenw p#ym¢nts to other tsustees or persons related to or connected to th¢tn. 7. The losses in the value$ of the fixed asset invlments shown in thble 7 reverse the gains mad¢ in 2021. An addiiional £5,OIXI w&8 investcd in th¢ Global Equity Fund beU&¢ th¢ price was at its low¢st in October. The early pan of 2023 saw a significant recovery of th¢ values. Both funds coniinu¢d to yield useful dividend incom¢. 8. Table 12 shows that thc costs of producing Parish ma7.Int IP&P) were matched by the income. Unusually a transfer was needed from the G¢neral Futyj to Bchicve this rLsult. 9. The Friends of Hor%ted Keynas fhurch had a Ld year by raising £13.747 on top ofthe legacy gift of £20.000 mcntioned above. Expenditure of £6,627 inc1]ed supporting maintenance of the churchyard and the annex project. 10. Overall, the PCC'S financial results for 2022 wcre sat15factory. The SignifinI improvement in the valuc of unrestricted planned giving io thc Cjcnual Fund Is particul¥rly welcome. It now rte¢ds io at least keep in step with inflationary incrwes in costs. Reserves Pollcy A rcview of thc reserves poliLy ¥nd risk register was undertaken during thc year which resulted in no Significant change. An unrestrtctcd CTenerdl Fund reserve of £25.000. approximat¢ly 3 months of oveTrll Cxpcnditute ort everyday activities, is needcd as a ¢ontingency a82ins1 unforeseen Simaiions. On 31 December 2022 the balance was £50,759. A totsl of £27,085 was held in thc Unrcstricted and Restricted Fabric Funds at the year-end which, with the usual help fmm the Friends, should be sufficient to cany out the wotk expected on the fabric of the church over the next few years. Thi5 Trnstrcs, Annual Report was approved by th¢ PCC and signed on their behalf by Reverend David Murdoch. Ch&irniatt ..... P¢5
INDEPENDENT EK4MINER'S REPORT TO THE TRUSTEES OF Hor5ted Keynes Parochial Church Council tRegistered Charity Iyo. 11544821 I report on the accounts of Hor5ted Keyne5 PCC for the year ended 31st December 2022 whicb are set out on pages 7 to 14. Respective responsibilities of trustees and exmlner The church's trnstees are Tesponsible for the prepardtion of the accounts. The ¢hurch'5 trustees consider that an audit is not required for thi5 ycar under s¢¢tioD 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is nccdcd. Having satisfied myself that the church is ¢llble for independent exarninatio it is my responsibility to :_ ' examine thc accounts under section 145 of the 2011 ACL . to follow the pro¢¢dures laid dov4n in the general Directions givcn by the Charity Commission under section 145(5)(b) of the 2011 Act" and . to State whether particular matters have come to my attention. BASIS of independent ex2mlner's stAtement My examination was carried out in accordance with the general Directions given by the Charity Commission. An exarnination includes a review of the ac¢ounting records kept by the charity and a comparison of the accounts presenied with those record5. It also includes consideration of any unusual itcms or disclosur¢s in the accounts. and seeking explanations from you as tsuses concerning ally such llmttcrs. Thc pn)cedures undertaken do not provide all the cvidcnce that would b¢ required in an audit and consequently no opinion is Ven as to whether the accounts present a'tru¢ and fair view and the report is litnited to those n)atters set out in thc statement below. Independent examiner's $tatement In connection with my examination. no material matters have conK to My attention wbi¢h give me cau5C to believe that any material rwect: accounting records were not kept in accordance with scction 130 of the 2011 AG¢ or • th¢ accounts do not accord with the accounting records. or . the accounls did not cornply with the applicable requirements concerning the fonn and content of accounts set out in the Charities {A¢counts and Reports) Regulations 2008 other thaD ally requircment that the accounts give a 'tsue and fair, view h1¢h is not a lljatter considered 8s part of an independent examination. I have come across no other tJ]atters in connection with the exa[nitoll to whith attention should be drawn in order to enable a proper understanding of the accounts be reached. sted by :_ Mr A Peel Cross The Hermitage, Church Lane Horsted Keynes Haywards Heath RH17 7AY Date: . Page 6
HORSTED KEYNES PAROCHIAL CHURCH COUFICIL STATEMENT OF FINANCIAL ACTIVITIES For the Y&2r ended 31st December 2022 Unrestrictrd Restricted Endowmertt TOT Funtls Funds Funds 2022 2021 No In¢ome and endowmeDts from: Donations and legacies Charitable activities Oth¢r trading activities luvestments 2(a) 21b} 2(c) 21d) 69,606 59,377 128,983 4.1)06 22,012 2.303 87,684 5.617 11.876 2.203 12.746 1.8LY2 9266 501 TOTAL 88,160 69,144 157,304 107,380 ExpeDdithre on: Raising fimds Charitabl¢ activities 3(a) 3(b) 749 82.886 1,083 17.939 1.832 1,057 101,784 112,900 959 TOTAL 83,635 19.022 959 103.616 113,957 Net gainsloosses) on investmu (7,183) {2,909) (1,483) {11,575) 11,569 NET INCOMEI(EXPENDITURE) (2.658) 47213 {2,442) 42,113 4,992 Transfers between fvnds ET MOVEMENT IN FUNDS (2.658) 47,213 12,442) 42.113 4.992 Re¢ontfil*tion of Funds Fund Balanccs brought forward at 1st January 2022 70,073 37.369 82971 190.413 185,421 BAL4NCES CARRIED FORWARD AT 31st DECEMBER 2022 67,415 84.582 80.529 232,526 190,413 Page 7
HORSTED KEYNES PAROCHIAL CHURCH COUNCIL BALANCE SHEET AS AT 31st DECEMBER 2022 2022 2021 Notr FIXED ASSETS Tangible fixed assets Investment &%sets 71,747 77.760 72,706 84,335 CURRENT ASSETS Dcbtors Short t¢Em deposits Cash at bank and in hand 4,532 15,780 67,103 87,415 2.532 15.579 17.863 35.974 LIABILITIFS . AMOUNTS FALLING DUE WITHIN ONE YEAR io 4.396 2.602 NET CURRENT ASSETS 83.019 33.372 TOTAL ASSETS LLSS CURRF.NT LIABILITIFS 232,526 190,413 NET A&SETS 232.526 190.413 FUNDS Unrestricted Resthcted Endowment 67.415 84.582 80,529 70,073 37,369 82,971 12 13 TOTAL CHARITY FUNDS 232.526 190,413 This Financial Report for thc year ended 3 1st Dccmb¢r 2022. including th¢ now followin& was approved by the P8ro¢hial Church Council on 2nd March 2023 signed on its be1}f by:" Reverend David Murdoch (Chain) (rrc&surer) The no on pages 9 to 14 forni p3rt of these accoullts. Page S
HORSTED KEYNES PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS For the Year ended 31st December 2022 ACCOUNfiNG POLICIES Ila) Ba$i$ of Preparatlon The PCC is a pllblic benefit entity within the meaning of FRS102. The fitvdncial statements have beett prepared under the Charities Act 2011 and the Church Accounting Regulations 2006. in aecordance with applicable accounting stsndards and the current Ststement of Recommended Practice, Accounting and Reporting by Chan"ties, ISORP (FRS 102)). The financial statemcnts have b¢cn prepared wider tbe historical cost bonyention as modificd by the inclusion of inveslTnents at market valu¢. Thc finitncial statemcnts incllld¢ all the transactions, assets and liabiliiies fur which the PCC is respoT]sible in law. They do not in¢lude the accounts of church groups th&t owe th¢ir affiliation tt> another Ix)dy, nor those wlll'ch are ll&om]al gatherings of churcb members. l(b) Funds Futsds held by tbe PCC are :. Uwestrictedfynds general fimds that carl bc used for PCC ordinary purposes. DesignLTledJfrnd3 monies set aside byihe PCC out of unrestricted funds for specific fvture pu05e8 orprojects. RtricedIu4ds (a) income from 1Th8ts or endowments that May be expended only on those restricted objects provided in the term5 of the ttwt or bequest, and {b) donatlQD5 or grants received for a specific object or tnvited by the PCC for a specif1¢ object. The funds May only be expended on the specific object for which they were given. Any balance r¢nuining ut]spent at the end of ea¢h year must be carried forward as a balance on thai fund. The PCC does not usually invest separat¢ly for ea¢h fiu)d. Endowmentfundy fimds the capital of which must be maintained. only in¢ome arising from investsn¢nt of tbe endowm¢Dt may be used cither as r¢5tTiCted or unrestricted funds d¢pending upon the purposc for which the endowm¢nt was established. The PCC may have thc power to COJ3VCrt certain ¢ndowllLent fwids into cxpendable income,. such fi]nds are known as expendable endowrnents. l{c) Ineotne and Ethdownnts All incorne and endowments, accollnted for withollt deduction for any cvsts of receivability, are reeognised when thcre is cvidence of enritlernenL receipt 15 PTobable, Lnd the amount can bc me&sured reliably. Ild) Donations &Dd Legaeles G)Ileclions are recognis¢d when ree¢iveil. Planrtedgiving receivable is reco1]Sed when there is ¢viden¢e of ¢ntit]ement. receipt is probable. and the amount accords with the Gifi Aid de¢laration or other record of intention to donate. Gifi aid recovered is recognised when the income to which il is attached is recognised. Granl.s and legacies are recognised when the forn1 offer in TitIng of the fimding. is received by the PCC. l(e) CharlÉAble Actlvltles, TTadin% ActitieS and 211 Other lDcome Stathtoryfees for weddings dnd fier[S are recognised when the office occurs. Troding activiti dre where income 15 rcceivable in return for selling good5 or providing 8miee5 and 18 recogniscd when received. i(0 Investment Income Dividends are a¢¢ounted for when due and payable. Jnterest entitlcmEnts are accounted for As they accrn¢. GalD5 *nd Losses Investments Realised gain5 are recognised when the investm¢nts are sold. Unrealised gains 2nd losses are accounted for on revaluation at 31st D¢¢cmber. Page 9
HORSTED KEYNES PAROCIIIAL CHURCH COUTrICIL NOTES TO THE FINANCIAL STATEMENTS (continued) For the Year ended 31st December 2022 l{h) Expendlture EXndItllre 15 Tecogni5¢d when there is evidence of entitl¢m¢nL pay[( is probable. and the amowit w be measured reliably. Grnnts Grants and donations are #ceounted for when paid over. or when awarded ere the award creates a binding obligation on th¢ PCC. l(J') Ch*rlt¥ble Aedvltles Tbe diocesan parish contribution is aeeounted for on an annual basis. reficding th¢ alloc4tion sct by our Deanery. Any parish contribution unpaid ai 31st Deccmber is provid¢d for in a¢wunts as au operatio11 (though wt ¥ l¢gal) liability and is shown &% a ¢r¢diior in the balance sheeL l(k) Flxed Asscts Tangiblefuedfjssets. co[crated and benefieed propety of any klljd is excluded from th¢ accounts by s.10(2) of the Chan'ties Act 2011. Movable chur¢h fimiishin8s held by the Rector Churchwardens on special trnst for th¢ PCC, and whi¢h r¢quir¢ a faculty for disposal, are a¢¢ounr¢d 8$ inalienable property unless con8ecrated. Thcy are listed in the church's inventory whi¢h ¢att be inspected but are not included in the financial %taiements. For inalienAblc property a¢quired pnor to 2000. Iherc is irtqufficient cost infornution &vailabl¢ md th¢refor¢ Such assets. arr not valued in the financial statem¢nts. Individual itcms acquired $in¢¢ Isi January 20[ have been Gapitalised in thc financial sthtem¢nLS and depreciaicd over their US¢fi enoMiC life. All cxpcrtdittwe in¢urr¢d in the year nn consecrated or bet)eficcd l)uildin8s. individual iiems ¢osts'n8 under £5,¢)00 or on the repair of rnovable church A]ShingS awuired before l st Jgnuary is writtcn off. Freehold land and buildings are v81ued at original cost less provisions for d¢prteiation. Renovations to fr¢¢hold buildin8s are led at OTi8iMI Cost less pmvi8ions for depreeiatioj Depreciarion Dcpicciatson is calculated to WTiie down the cost of tan8ible fix as6ets oveT their expected useful lives. Th¢ rates generdlly applicable ar¢ :_ r¢ehold land and buildin8S Renovations to fr¢chold buildin8S 10/0 p¢r annum on a rcducin8 balan¢¢ ba5iS. 2% rKr annum on a reducing balancc b&sis. InvexlmenLT . Inve$tments are valued at math¢ value ai 3 1st December. INCOME AND ENDOWfvIENTS Unrestri¢td Restricted EndoTriDcn¢ TOTAL Funds Funds 2022 FUNDS 2021 21a) D0ttiOnS and legacies Planned giving Collecti¢)ns (open plak) Donations Gift aid tax claimed Grants received L¢gacies 40.150 6.661 9.195 12,850 750 4,026 1,261 25.839 6,701 1.550 20.000 59.377 44,176 7.922 35,034 19.551 2.300 20,000 128.983 39,734 6.966 12,339 12,321 15,324 1.000 87,684 69,606 21b) Charitsblc actiyities Parochial F¢¢5 income 5,617 5.617 4.006 Pe 10
HORSTED KEYNES PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS (continued) For the Year ended 31st December 2022 2(c) Other trading activities Fundraising income Hall income 475 12,271 9.266 9.741 12,271 22.012 2,935 8,941 11,876 2{d) Investments Dividends and interest reeeived 501 501 2,203 2,203 1,802 2.303 I'OTAL 88,160 69.144 157.304 107,380 EXPENDITURE Unrestricted Restricted Endowm¢nt TOTAL Fun(L¥ Funds Futsdi 2022 FUNDS 2U21 3(al Raisin8 fvnds FundraisÈng costs 749 749 1,083 1.083 1,832 1,057 3(b) Charitable tivitIeS Missionary and ¢haritsbl¢ giving Ministry ¢u¥(s '. Diocesan Parish Contiibution Other ministry ¢0Sts Church running ¢xp¢ns Church & hall Mgjor repairs & fabric costs Ilpkeep of servic¢s Youth work, truinin8 and mi85ion Parish magazine Church hall running Costs .8upport iosts Admini%tralivc Lusts Depreciation 2,226 2.381 4,607 6,822 49,157 5,221 6.832 49,157 5,221 9,657 5,950 46,8Q7 4,731 8.396 22.807 762 1.611 5,773 9,171 1.414 3,633 973 112,900 2,825 5,950 330 780 1,964 592 10.868 1,443 3.803 2,464 6,137 10,868 1,688 3,966 939 101,784 5,545 245 163 959 959 TOTAL 3,6.35 959 103,616 113957 STAFF COSTS The PCC had no ¢mployees durill8 the year. INDEPENDF.NT EXAMINATION FEES The tndep¢nd¢nt Examiner ha5 not charged a fe¢ for hi.s work. ANALYSIS OF NET ASSETS BY FUND Unrestricted Resirictcd Endowneht Funds Fundg Funds TOTAL FIX assets Current 2ssets Current liabilities 48,823 21,323 {2,731) 20,155 66,092 11,665) 80,529 149.507 87.415 14,396) FuDd BanceS 67,415 84,582 80,529 232,520 Pa8cII
HORSTED KEYNES PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS (continued) For the Year ended 31st Deeember 2022 FIXED ASSET INVLSTMEiYrs VRlue 1st January 2022 Gain {Iosses) Additsons Di4)osais M¥k¢¢ Value ai 31st Decvnber 2022 Church of England CBF Investmem Fwid .. 538 income sbares {see note below) Church of England CBF Global Equity Fund: 25306.82 incomc Shares 12,598 11.483) 71.737 (10,092) 66.645 84.335 (11575 77,760 Not¢- the 538 stwes are held specifically for the Bridg¢all Thurcbyard TnLSt F. TAf4GtBIE FIXED ASSETS Fredjold Building laTMI attd ToovatiOlL8 1juddgS TOTAL Cost '. At 1st January 2022 AdditioDS Disposals At 3 1st December 2022 69,681 44.927 114.608 69.681 44.927 114.608 Depreciation .' At 1st January 2022 Charge for the year Disptibals At 31 st Deccrnb¢r 2022 20,196 495 21.706 41,902 959 20.691 22.170 42,861 Net book am(wnts At 31st December 2022 48.990 22.757 71,747 Ai 31s1 Deceppther 2021 49.485 23.221 72.706 The freehold land and buildings comprise the Manindal¢ C¢ntr< the legal estate of lch is vested in the Cbichester Diocesan Fulld and Board of Finance (Incorporatrd) &s cStodian Trtle¢ for the HoTSted KeyDes PCC in a¢¢ordance with the provisioL8 olthe Parochi Chwch Councils (Powers) Me&sure, 1956. DEBTORS 2022 2021 Recoverdble Gift Aid Other surtthy debtws 3.491 1,041 4,532 2,404 128 2.532 10 LIABILITIES: AMouKfs FALUNG DUE wrnitN ONE YEAR 2022 2021 Creditors for goods and servic¢5 Def¢d income 2,394 2,002 4.396 2,602 2.602 Page 12
HORSTED KEYNES PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS (continued) For the Ye8dr ended 31st Deeember 2022 11 UNRESTRICTED FUNDS Balance At ISL January 2022 Balance at 3 Isi Dccembor 2022 InrnIng Outgoing Transfcrs GaiTL General Fund Designated Fabric Fund 53,328 16.74S 70,073 87.633 527 88,160 83.635 (2.500) 2.500 14,067) 3,116 7.183 50,759 16,656 67,415 83.635 12 RESTRICTED FUNDS Bal8nce at ISL January 2022 Movements ID Rewurces BaThCe at 31st Decembei 2022 Incoming (Jjtgoing Transfets Gains Building Rcpairs and Fabric Fund Charitable Collections Fund Faith in Action Fund P&P ma8a7.ine Fund {il Martindale Centr¢ Income Fund (li) Buildinby App¢al . 2004 Fund lili) Restrictrd Gifts Fund Fri¢[$ of Horsted Keyles Church (iv) Restri¢tcd Martind&le C¢ntre RefiJrbishmen¢ Fund {v} Si Gile5 N¢)rth Annex Appeal Fund Ivi) 10,231 68 923 2.312 1.860 2.380 (87) 9.207 153 2,333 1.663 976 19.894 5,497 5,650 2,333 1.222 696 44.280 1.193 1,055 6.627 1811) 775 33.747 (2.734) 182 182 25,050 257 19.022 37.369 (i) The P&P Ma8azine Fund receives donations And granL$ specifically for the produclion of the parish mawine. lil) The balance on the Martindal¢ Centre Incom¢ Fund represents the cost of some of the historic81 building renovaiions. (Iii) This nd Wds opened with donations from the Village Appe in 2004 for Tepain to the fabric of the church. Monthly donaiiuJL% have continued flow into the fund durin8 the year. (iv) This rostrictcd nd was launchcd in September 20116pecifically for the maint¢nance of thc fabric of St. Gile$ Church and ¢hurchyard in Horstcd K¢ym. {v) This fimd wa8 re-opened in 2019 to receive rr%tri¢td income towHrds the cost of r¢firtJiShinupadIng th¢ healing system in the Martindale Centr¢. Most of the costs of refith'shinglup8radinB the heatsng system were charged to ihe fimd in 2019, leaving a small balance carry forward. (vi) This appcal nd w&s opened in March 201fj to fiujd th¢ p18J]ning and coltruCtion of an annex to th¢ nortb of the St Giles church building. 13 ETr4DOWMEIYT FUNDS Balance at ISL January 2022 Movemcnts in Resources rncoming Outgoing TransferB Balancc at Gains1 31st Dccemb¢r {1055es) 2022 Martindale Centre '. Capital Endow¢ Fund 70J72 959 69,413 Bridgeman Trnst Chwchyard Fut 12,599 82.971 1,483) 1.483) 959 80,529 Page 13
HORSTED KEYNES PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS (eontinued) For the Year ended 315t December 2022 14 PRIOR YEAR STATEMENT OF FINANCIAL Acr1Vr COMPARATIVE FIGURES FOR THIS YEAR STATEMENT OF FINANCIAL ACTIVITIES For the Year ended 31st Decembcr 2021 Unrestricted Restricted Endovrnient TOTAL FUNDS Fun¢ts' Fund5 Funds 2021 2020 Note ED¢ome and endownt$ from: r)ortations and legacies Charitable activities Oth¢r tradsn8 actiYitie8 Investments 21a) 2(b) 2{c) 2(d) 2(¢) 57.336 5,617 10.066 1.696 30,348 87,684 5,617 11,876 2.203 122,962 3,422 7.288 2.174 13.090 1.810 507 TOTAL 107 380 14¥.936 Expendlture on: Raisin8 funds Charitable lIVI¢S 3(a) 3(b) 157 32.333 1.057 36 112.900 161.081 79J94 973 TOTAL 113 957 Net gain{[0$5) on invesun¢nts 7.104 2.888 .577 11,569 10,584 NET TNCOMEI{EXPENDITURE) lJ25 3.063 4,992 {1,597) Transfer8 between fidS NET MOVEMENT IN FUNDS lJ25 3.063 4.992 {1,597) ReconclllAtlon ofFuDd$ Fund Balances brought foTward at 1st January 2021 68.748 34,306 82.367 185,421 187,018 BALANCES CARRIED FORWARD AT 315t DECEMBER 2021 70,073 37,369 82,971 190.413 185.421 Page 14