ST GILES CHURCH HORSTED KEYNES ANNUAL REPORT FINANCIAL STATEMENTS of the PAROCHIAL CHURCH COUNCIL for the year ended 3 1st December 2023 CONTENTS At]nual rert Pag¢5 1 to 5 Rerrfjrt of the tndependent ExaTDiner Page 6 Statet of Financial Activitics (SOFA) Pagc 7 Balallce She Page 8 Notes to the Financial StstellKDts Pages 9 to 14 RECTOR Th¢ R¢v¢r¢Dd David Murdocb The addra88 of the rectory is:. The Rectory. Ststion RtsAd. HoTSted Keyne HAYWARDS HEATIL RH17 7ED. PRIMARY BANKERS The PCC bath prinwily vlith :. CAF BANK Limited Kings "lL West MalliD& KenL ME19 4TA. INDEPELYDEf4T EXAMINER The independent examiner is:_ Mr A P Peel Cross The Herniitsge, Church L•n4 Horswi Keynes HAYWARDS HEATIL RHI 7 7AY CHARITY COMMISSIOIY REGISTRATION The Parcthial Church Covncil is a registered chaTity, No. 1154482.
HORSTKD KEYNES PAROCHIAL CHURCH COUNCIL Registered Charlty Number 1154482 ANNUAL REPORT for 2023 Admlnlstratlve Infomatlo SL Giles Church (Grade I listed) is situated in a)urch Lane, HoTSted KeyDe8 RH17 7AY. It is part of the Diocese of Chtchester within the Chuwh ofEngland. All ¢orr¢spond¢n¢e should be address to HKPCC. The Martindal¢ C¢ntre. StstiOD Ro4 Hor5ted Keynes, Haywards Hcath. RH17 7ED. St Giles Church Horsied Keynes is a registexed cl)ariry 1154482. During the year the following served as ebets ofthc PariKhial Church Council (PCC): Rector.. Fr David Murdoch (PCC Chaimw)) Curate.. Fr Peler Sutton Chur¢hwhrd¢n$'. Mrs Barbm Fairweather Mr John Whitin8 (elected April 2023) (elected April 2023) Deanery Syrtod Represenlatives.. Mrs Heidi Mowforth Mr John Whiting (until 2026) {unlil 2026) Elected Mernbers.. Miss Judith ljowron Mr John Emery Mr M&rtLn Govas (Tre8surtt) Mr David Lamb Mrs Thelma Mason Mr Bwry Retd Mr Peter Vitice {until 2024) {until 2026) (until 2024) (until 2025) (until 2026) (resigned Septembtt 2023) (tkceased November 2023) Co.opied Member.. Mrs Marion Lott (ex-officio. MCMC chair) The PCC made the (ollowlng Appolntm¢otJ: PCC mittut¢s se¢retsry Mrs mlOn Lott Parish Saf¢gu¥rdiDg Offio Mr Duffy Parry Eledoral Roll Officer Mrs Fiona Pn'¢¢ Structure? governDce Dd mneement Memb¢rship of th¢ PCC is deterni] undtt the Cburch Representstion Rules and ¢on6ists of ex-officio member8 IChurchwardcn{s). the mernbers of the Diocesan and Deanery Synods), the chairman of the Martindale Centre Managerneni Committee (co-opted). and 7 membus of the cburch who are electeA at the Annual Parockn"ai Chureh Meeting IAPCM). The PCC Secretary and Treasur¢r are elected by the PCC. The PCC is responsiThle for g wid¢ range of matters affecting the paTisb and in their capacity as InlSte¢s, members of the PCC are respot]sible for the stewardship of fund& the ar4)ropriale accounliDg #nd reporting of Fdrish firtances, and CompliaCe with legisl*ion applying to bealth aThJ fety. th8ability. ond safe8u8rth.ttg ehildren and vulnerdble adults. The PCC joins omd unites the work of the Chur¢h. its committees 8¢hool govern¢Ms and the Friends of Horsted Keynes Church. Page I
HORSTED KEYNES PAROCHIAL CHURCH COUNCIL Registered Charity Number 1154482 ANNUAL REPORT for 2023 (continued) The following cornmitte¢s are responsible for varlous aspects of tbe restrfmjsibilities and business of the PCC. and report to the PCC.. Standing Commiiiee: is a stttring group, which h&8 Wer to transad the Ertsiness of the PCC between its meetings. Finance Commillee.. oversees the general fmanctal dimension of the work of St. Giles's by monitoring income and exp¢nditur¢, budgeting and establishing and revicwing appropriate fJnancia] controls. The Finance Commiuee employs the setvices of Mr Sieve Brentna]I to give xcounting and stratrgic advice and to prepare the M8n8g¢menl and Annual Accounts. Marlindale Cenlre Managemeni Commil¢ee.' manages the day to day thinistration aDd tnaintenance of the Martindal¢ Centre. Fabrlc Committ¢¢.' oversees maintenance of the Church buildin8 and fabric. Chyrclryardcommillee.. is responsible for the maintenance of the churchywd and safety asprcts of the area. For all ihe Famlly Group.. an infornial wp whi¢h me¢ts lix) onrx a month to plan the next monthty 'For all th¢ Family, Euchari$L and &spires w rekindle a Sunday ¢lub. Friendl ofHorsied Keynu Chwch.. exirts lo help, ty)th with fvnding and in other practical ways, the maintenance, ryir. beautification and development of the chur¢h buildi its frt%gessioDs its ChuhYard. HeAlth aTrd Safety The PCC makes provision to consider health and safety issues at every meeting with an eye overseeing and updating Ihe risk assessm¢nt undcr ongoing TUtIY by church officcry tKrnsy committees who develop sy51ems and procedures io Man1¢ th¢ risks in their yeparnte spheres. Mr John Whi(in¥ continued as Ilealth and Safety orricer. SafeRuardin4 The Safeguarding Officer reports to the PCC on a re8ular ixsis and the PCC makes provision to consider safeguardin8 ISSU¢5 at every meeting. The PCC has complied with the duty to have 'due regard, to the House of Bish¢)ps' Safeguarding Policy and Practice Guidanrx. Publ1¢ B¢neflt The PCC acknowledge5 its requirements to demonstral¢ clearly thal as a charity aiming lo advance religion, it tnust have charitable purposes or'aims, that are for the public beDefiL Details of how the PCC ha5 achieved this are provided in this report. Airn and purposes The PCC work5 with the Rector to facilitate the worship of Almighty G(x( of the Chri51ian Church and service to others in and beyond the parish in accordance with J¢su5' Commandmeni kn love ¢)ur neighbour. With these key aims in min(L HON1 K¢yn¢5 PCC has esrablished obje¢tiV¢5 in its ¢urr¢nt Mi55ion Action Plan (MAP). Our vision is Yo be¢om¢ beiierfollowers ofchrisi by loving Godandloving oih¢rs'. Our agreed initiatives to achiev¢ our objKtiv¢s are split into two group% th¢ first aimrAI at Ew)ming be¢t¢r disciples {Yo# shall Inve Éhe Lnrdyiw Godwiih ollyow hearl. andwith allyoursoul, 0wIlh allyour mind), and th¢ 5¢wnd at ¢omin8 tr*tt¢r s¢rvants (You shall love)w neiglkn af)vurselJ). Pag¢ 2
HORSTED KEYNES PAROCHIAL CHttRCH COUNCIL Registered Cbarity Number 1154482 AIWJAL REPORT for 2023 (continued) Reetor's Report These are a few highli8bts of another busy fvlfillÉng year. To my Chaplaincy of the Bluebell Railway. I added. for ODe year. being Chaplain to the High Shuriff of West Sussex, Andy Blis5, who lives in the parish. I have onty been able to go with him to a small fraction of the numerous events he h&$ attended, these being a mixture of uplifting services in Chichestrr and Anjndel Cathethzls. and inspiring visits to clwiti¢s. I purpos¢ly Chose two that we support as a parish.. a summtt party for families SUpted by Farnily Supwrt Work and the opening of a new wing at Crawley Open House. 18lways find enjoyment and fvlfilment in Baptism4 Marriages and Funerals, and it is special when they are of peopl¢ we know well. Thus, I look ba¢k with great pleasure on thc Baptism of Kasper Spelch and the Marriage of Will and Lilly Lamb. We went on to have a swe of four baptisms in about six weeks in Scptcmberlcarly October. Although they will have thetr own rew4 1 feel I mwi mention some fantastic Friends of HoTSted Keynes Church events.. the amazing panio, Aladdin. th¢ Bom D8n¢e * the Bluebell Vineyard and the O Gardens, for which we had such exc¢ll¢ni w¢ath¢r. On Rogation Sunday afternoon. Fr Peter led a prnyer walk from the Clarke's Farni back to and around the village. It was thought provoking and inspiring, and I hope that we can continue to mark Rogaiion Sunday in similar wayg. A150, in May we celebrated with people acro ournatioD and ¢ommonwealth the corOn10n of King Charl¢8 111. li eontinues to be A joy and a privile8¢ to have Fr Peter as our Curate. We rejoiced with him as he was ordained Priest and celebrated the Eucharist for the fjrsi lim¢. 14m greatly blessed io have such an OUtstsng colleague, as are we all to support him in. and see him growing ints) hig priesily mirtts¢ry. After a v¢ry long pr(K¢&s of dis¢ussion, ¢alled 'Living in Love and Faith.. the national Church of England agreed to authorize prdyers for the Blessing of homosexual unions lalthou8h not xtual Marriages). Fr Peter and l expressed publicly our willingness to le such 5ervi¢e5. The process continues lo caus¢ painful divisions in the national church and Anglican Communion. Inrestingty, early in 2024. the PO authoriz¢d su¢h ble55ing5 in the Rom8m Catholic Church, albeit in very limiied ¢ir¢ums¢an¢es. Ai the end of the summer terni, Hillary Douch retired after a highly successful tirne as Head of St Giles. School. A new leadership arran¥ement came Into place with Jamie Savage &8 Executive Ilead of both Ardin8ly and Horsted Keynes school$, and Alison Coulson as Hcad of S¢hool hu¢ at 8t Cjiks. This is workin8 w¢ll and Fr P¢t¢r and l enjoy working clos¢ly with her and our chureh s¢h(A)l. Christine and l ar¢ imm¢n¥ly grnieful for all the supp(Mt YOU give us in so many ways. It W&8 lovely to celebrat¢ our 40th Wedding Anniversary with you in Au8us4 in churcltyar4 and with family and friend8 in the Martindale Centr¢. Marion Lott received the Order of Si Richard from Bishop Ruth at the Cathedrnl: something which is given for long and outstanding lay Service of the ¢hur¢h. Very well deserv1 Very sadly, not long afterwards, our previous hold¢r, Pder Vince, di. He loo been a s¢rvant of Our Lord and hi5 church h¢r¢ for many y¢ars, as well an intelligent, chardcterful and humor(yJs friend to me, and to so many of us. As he wish¢d, we h¢ld a R¢qui¢m M&ss for him, and it says a lot that every one of my sutviying predecessors attended. It has tsken a team io replace him as Sacristsn alone. but they have risen rnagnificentty to th¢ ts8k. We authoriz¢d all our servers to administer the chalice and found some new sidesinen and women. Andrew Sler continued to organize a choir to sin8 special occasions such a5 ChTistsnas and Easter. Katie Spetch, Christine Mllrdh and helpers run a Friday afternoon (tum time)'God is ourrock, afteT school Club. Slow but steady Progress continued to be made the annex so many have h(yeiL prayed and planned for. for $0 lon thanks to a great de of hard work by the steeringgroup. Pag¢ 3
HORSTED KEYNES PAROCHIAL CHURCH COUNCIL Registered Charlty Number 1154482 ANNUAL REPORT for 2023 (continued) The Annual Parochial Church Meetings are an opportunity to thank people too nurn¢rou$ to mention by name and, as always, l apologise if I leave anyone out.. Fr P¢ter for betng such an excellt colleague. Churchwarden$, S¢cr¢tary. Treasurer, PCC m¢mb¢TS' organisc Planists. and ¢hoir' servers. sides-peoplc. sacri5tans and vcrger. cleaners, churchyard work¢rs and flower arrangers. Th¢sc and others are so important ID caring for ihe church building And parochial administrauon. Then there are thos¢- some the same. some diffeJ¢nt- who do so much in ternis of our outreach.. headteacher and staff at St Giles, School, P &", P Editor. leaders and heetS at First Steps. 'God is our rock. Friday 8fier Schwl Club. Friends of HK Church, Friends of our Chureb School, HKafe, HK Help. Life and Faith Group, Villag¢ lunch" all wbo Icad on our bi-monthly church charitsc5. All the folk who simply Djrn UP io be part of our worshipiug conununity. Last but by no m¢8Ds leasL my dear We. Cbnstine, for all her sUPPOrt in so very many way5. It is a wat joy and blessing io setve in such a special village. with a w8rn1 and supportive conEregau"oJ) 8nd eomTnunity, very beautifijl chureh and lovely Rectory. 'God is herel As we his people mee( to offer prais¢ and prayer. May we find in ller measure what it is in Christ we share.... Lord of all, of Church and Kingdorn. ag¢ of change ond doubL Ke¢p us faithful to the tiospel. help us work your purp)6¢ ouL' Fred PraU Gre¢n {IW3-2(MXI) AehlevemeDts P¢rfonnaDee The EleOrdI Roll w4$ r¢vi¢w¢d. 119 were on the roiL 5 new •nd 2 died,. 20 not resident in the Village. Th¢ maximum number attending on any Sunday in Octhber was 50. including IS children, the averag¢ number bein 45. Both the.%e figur¢s in¢ludcd people auendin8 by Zoom. 17 people attcnded the All Souls RequieTll. with 15 taking CL)mmuniort. Altendan¢¢ at S¢rvi¢e8 is f&irly consthni with highcr attcndancc ai Family S¢r%Yces, thou¥h rcTnain5 low¢r than pre-pandcmi¢ levels. The Zoom invitation is 8¢nt most Sundays to thc majority included on the Electoral Roll but thete are usually few attcndees. There werc no regul Home CommLmions arranged but gny rcquests wer¢ fvlfilld. The Eucharist W&5 cclcbrate4J ¢ts month at Westall House with a 8IM)d Dumber of residents attendin8. Th¢Te were I I regulAr P.C.C. mtttings throughout the ye, in the Reclory durin8 the winter months to r¢du¢e hcatlll8 costs, and in the Manind&le Centre ai other tirnes. All Sub-committees mei as requimj. rqx)rtin8 to and r¢pr¢s¢nted on the P.C.C. 4 children were baptssed. There W¢Te 2 w¢dth"Dgs and 3 fimerals. HKPCC highlights of Church life for the bcnefit of the Community incled in 2023: Chichuter Dio¢esan Lent Course on the Old Testhmeni was folls)wcd places and tim. HK Help continues to provide support th the Community. including transport for medicAI n¢eds, as Tcquired, though there is little dcmand. HKafe continues to be held in thc Martindale Centre thiring term time, led by the Youth Worker from All Saints Church. Danehill, Josh WaL4on and catering for secondary schiK)l a8e children. First Steps, the baby and toddler group, mects at the MartindaSe Centre durin8 tcrni time. giving an opp)tfvnity for Small chlldren and thcir parents and carers to meet in a safe environmettt. St. Gilc5 Church of England Pn'mary School holds a weekly Collective Worship in church and 8 ternily Eu¢haTi8t. All 5erviccs are attended by a Significant number of pamts and carer8. The JunioT School Carol Sentice w&% held in church and w&s very w¢ll attended. Village Lun¢h is held monthty in the Martindale Centre. Fo(Mi is cooked by a varied team of volunteers and is enjoyed by an in¢r¢asing nwnber of peopl< from the village and bcyond. The Friends of Horstrd Keynes Church (FOHKQ continues to enthusiastically raise fi(L8 for the fabric of the church and maintenance of the chur¢hyard. Events included the 8Tnazin8 panto, Aladdin, the Barn Dance at the Bluebell Vineyard, the Opal Gardcns Day. for which we Iwl such excellent weather. and thc Serendipity Concert in church in December. Pag¢ 4
HORSTED KEYNES PAROCHIAL CHURCH COUNCIL Registered Charity Number 1154482 ANNUAL REPORT for 2023 (continued) The Parish and Parishioner (P&P) editor continues to produce and publish the magazine 10 times a year. V0hteerS collate and distribute these tg all houses in the village and copies are posted t(Tr those requesting th¢rn. FlnancSal Revlew l. The net expenditure in 2023 was £25,030. This figure is on page 7 and compares With the surplus of £42.113 rnade in 2022. £24,415 of th¢ £25,030 b¢ attribut¢d to on¢ off planned expendire from the restricted St Giles North Attnex Appeal Fund (see table 12 on page 13), uscd to progrcss th¢ anncx proj¢ct. 2. Table 2(a) shows that the value of donations and legacies received was £80,9511£128.983 in 2022, which included a l¢ga¢y donation of £20,000). Whilst not a rnajor issue in 2023, the level of planned giving 15 not keeping pace with inflation. Furthermore, the death of a major contributor towards the end of the year presents th¢ ¢hur¢h with a significant in¢ome chall¢ng¢ for 2024. Table 2(c) shows an improvement in Fundraising and Hall IMartindal¢ Ccntrc) incomc but this is largely offset by th¢ asso¢iate41 ndraISIng ¢osts in tabl¢ 3(a). 4. Table 3(b) records expenditure of £46.703 {£5.950 in 2022) on Major r¢paiTS and fabric. This includ¢6 th¢ expenditurc oll the Annex project mentioned abov¢ and r¢pairs needed to the church fabric a5 identified in Our architect's 2022 quinquennial inspection report. Only minor Items remain to be Mpleted before the next in.%pcction, duc in 2027. Thc parish continues to fully eover the eontributloll Tequestcd by the diocese for a half 1irne pricst. 5. The Martindale Centre was available foi hire the whole year, Covid restrictions having been fiRlly lifted. The rental income at £8,726 was not much more than achieved in 2022 but the increased surplus from fijnd raising events and steady operating C4)sts enabled ihe Centre to gcncratc a rnodest swlu$ of £1,820. Tnjstcc payments and cxpcnses.. the PCC supported the clergy by paying thc cost of rectory utilitie5 amounting to £4,U7612022- £3,883) plus other annual costs towards travel. tel¢phone. postage and broadband amout)ting to £93412022- £1.255). These are included in table 3lb). There were no expenses payments to other tnte¢S or persons related to or connected to them. 7. Table 12 8how% that the costs of producing Parish rnagazine {P&P) were closely malched by the income rcceived. The resthcted fund at the yearend stood at £362. 8. The Friends of Horsted Keynes Church raised an impressiv¢ £16,608 from fund raising activiti¢s. Aft¢r fundraising costs of £4,206, £19,480 was spellt on the churchyard. repairs to the church fabric and the atmex. 9. The church'5 investsnents continued to generate a steady income. Table 7 shows that the capital valuation in¢reas¢d by £10,979 over the year, almost the matchin¥ the drop exp¢rienced in 2022. 10. Overall. the PCC'S financial position at th¢ ¢nd of 2023 was go(xl. However. a few challenges emerged towards the cnd of the year end, the most Tmportanl of which is the need to significantly in¢rease the value of plaDDed vill8 to the Gcnerai Fund. Reserves Pollcy A review of the reserves pobcy aDd risk register wa5 undertaken during the year which r¢slllted in no change. An unrestricted General Fund reserve of £25,000, approximately 3 months of overall expenditure on everyday activities, is needed as a contingcncy against unforeseen situations. ots 31 Decembcr 2023 the balaDce was £54,461. A total of £27,583 was held in the UllrestTiCted and R¢strict¢d Pabric Funds at the yeaT-end. This Trustees. Annual Report was approved by the PCC and sigt]ed on their behalf by Revucnd Trdvid Murdoch. CbairmaD Datc ¢i.1..Nlor. 20Z+ Pagc 5
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF Horsted Keynes Parochial Church Councll [Registered Charlty No. 11544821 I report on the accounts of Horst¢d Kcyncs PCC for the year ended 31 December 2023 which are set out on pages 7 to 14. Respe¢llve responslbllldty of trustees and examlner The church's trustees are responsible for the preparation of the accounts. The ¢hurch'5 tru5tccs consider that &n audit is not re(Ired for thib Y under scction 144(2) of th¢ Charities Act 2011 (the 2011 Act) and that an independent examinalion is needed. Having satisficd mysclf that thc church is eligible for Indeident examination. it is my responsibility to :. examinc the COUnts under section 145 of the 2011 Act. . to follow the pr(Kedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act" and ' to sthte whethcr particular matters have come to n]y attention. Basls of Independent examlDer'$ $t*t¢ment My examinats'on w08 carried out in accordan¢¢ with the general Directions given by thc Charity Commission. An examinytion includes a review of the a¢¢ountin8 rccords kept by thc Charity and a comparison of the accounts prented with those records. It also includcs consideration of any unusual items or th'sc108ures in the a¢¢ounLs. and seekin¥ cxplanations from you as tntcCS concerning any.4uch matters. The procedure8 undcnaken do noi provide all the evidence that would be requircd in an audit and consequently no opinion is given as io whethcr thc accounts present a Iruc and fair view and the report is limited to those matters sct out in th¢ statement Ixlow. Independent examlner'g Stattment In ¢onn¢¢tion with my examination, DO material matters have come lo my attents'on which give mc cause to believe that in. any material respect.. • accounting records. wer¢ not kryt in accordance with section 130 of the 2011 Act. or . the accounts do not accord with thc accounting record8, or • th¢ accounts did not comply with the 8pplicablc rcquirem¢nts concerning the forni and Content of accoullts set out in the Clwities (Accounts and Report5) R¢gulaiions 2008 other than any requirement that the accounts give a 'tru¢ and fair. view which is not a matter considered as part of an independcnt examination. I have come across no other matters in connection with the examination to which att¢Dtion should be drawn in order to ¢nabl¢ a proper undcrstanding of the accounLs to be rea¢haL Signed by :" Mr A Peel Cr08S The Herniit&ge. Church Lane Horsted Keylles Haywar(Ls Heath RH17 7AY Pa6
HORSTED KEYNES PAROCHIAL CHURCH COUNCIL STATEMENT OF FINANCIAL ACTIVITIES For the Year ended 31st December 2023 Unrestricted Restricted Endowment Funds Funds Funds 2023 2022 Not¢ Income and endowments from: Donatiot)h and l¢ga¢i¢s Churitsble activities Other trading activitie6 Investtnents 21a) 21b) 21c) 21d) 63.910 3,449 15,712 2,226 17,041 80.9SI 128,983 3.449 4,006 27,404 22,012 2.788 2,303 11,692 562 TOTAL 29.295 114.592 157,3U4 Expcndlturt tsn: R&ising funds CharilAbl¢ activities 318) 3(b) 2.506 82,978 4,207 59,965 6.713 1,832 143,888 101,784 945 TOTAL 85.4114 64.172 945 150601 103 616 Net gainslllosses) on investment8 7,277 2,656 1,046 10.979 11 1,575) NET INCOMEIIEXPENDITUBII 7,090 (32,221) (25,030) 42,113 Transfers between fvnds NET MOVEMENT TN FUNDS 7,090 (32,221) {25.030) 42,113 Recon¢lllatlon of Fund8 Fund Balancc8 brou8ht fonvard at 1st January 2023 67.415 84,582 80.529 232,526 190,413 BALANCES CARRIED FORWARD AT 31#t DECEMBER 2023 74,505 52,361 80,630 207,496 232,526 Page 7
HORSTED KEYNES PAROCHIAL CHURCH COUNCIL BALA]YCE SHEET AS AT 31st DECEMBER 2023 2023 2022 Note FIXED ASSETS Tan8ibl¢ fixed assets Invesknent aueLq 70.1102 88.739 71.747 77,760 CURRENT ASSETS Debtors Short trrn) deposits Co8h at bank and in hand 2.6 31.229 4,532 15,780 67,103 87,415 52.868 LIABILITIES . AMOUNTS FALLING DUE WITHIN ONE YEAR io 4.913 4.396 NET CURRENT ASSETS 47.955 83.019 TOTAL ASSETS LESS CURRENT LIABILITIFS 207,496 232,526 NET ASSETS 207.496 232,526 FUNDS Ut)restricted Restricted Endowment 74,505 52,361 80,630 67,415 84,582 80,529 12 13 TOTAL CHARITY FUNDS 207,496 232,526 This Fina11 R¢port for the year ended 31st Decenkn 2023, includm8 the ttot¢s followiD& was approved by the Parochial Church Council on 7th March 2024 and st8tted on its behalf by:_ Reverend Ddwdmurdoeh (Cham) (Treasurcr) The notes oll PAge$ 9 to 14 forni part of these accounts. Page 8
HORSTED KEYNES PAROCHIAL CHURCH COUNCIL OTES TO THE FIIYAIYCIAL STATEMENrs For the Yexr ended 31st December 2023 ACCOUNTING POLICIES Ila) B*si5 of Prep&r&tiDn Tbe PCC is a public bencfit entity within the tneaning of FRS102. The fitwx¢ial ststcments have been prepared under the Charities Act 2011 alld the Church ACCOting Regulations 2006, in accordallce with applicable accouDting standards and the cutrent Statement of RecotrllErlldcd PtactKce. Accounting and Reporting by Clwities. (SORP (FRS 102)). The finaDcial statements bave been prepared ullder thc lllstorical cost conventi¢)n &s rni)difLed by the inclusion of investments at market value. The f([L(la1 stsiements include all the traDsaction4 &s8ets alld liabilities for wkn.ch the PCC is responsible in law. They do not rnclude the accounts of cbwch groups that their affiliati"OD to another body. uortho8¢ wbich or¢ infornMI gatherings of chw¢h nwnbtts. i(b) Funds held by the PCC arc :_ Unreslrictedfyndf - general fimds tIMt can be used for PCC ordinary purEM)ses. Designaledfyntts - woniG5 Set aside by the PCC out of unreskncted funds for sp¢¢ifi¢ futwe pw)oses or projects. ResÉrictedfvndY . (a} income from tru&s or eDdowtntnts that miy be eXpelld onfy on th05¢ r¢stricted objects provid¢d in the terms of the tr1 or bequc5L and (b) donations or grants recetved for a specific objea or iDVited by th¢ PCC for a specthc object. The fvnds Djay only be expended on the specific object for Twbich they were given. Any balance remaining unspent at the end of each year be ¢arried forward as a bal8nce OD that fjjnd. The PCC does not llsually invest S¢PaTatety for cach fund. EndoWmentfv3 fimds the capitsl of which must be maiDtsincd; ODiy inc0e arisiD8 itivestn)ent of the ¢ndoThThent may be Lsed either as StriCl or w]restricted fill d¢p¢udillg up(Trn the purw)5e for which the endowllTht was eslablith¢d. Th¢ PCC may have the power to convert certain endowjneni fijnds An(0 exble income. such fun(ts are as expendable l(c) IncoJDe aDd EndoTvmetst$ All income and endOTrents, accouttted for witlK)ut deduction ftir any ¢o$ts of r¢c¢ivability. 2re recognised when there is evidence of entidenmil receipt is probabl4 alld the an1 be m¢asurd reliably. l(d) DonatloDS Legacies Colleetion.s are recogDised wheu rcceived. Plonnedgiving receivable ts recogDised when there is evideD¢e of entitlernenL receipt is probable, atjd the amount accords with the Gift Aid declaratioll or other rOrd of int¢ntion to donate. Gift aid recovered is rc¢ogDised when the incornc to which it is atta¢h¢d is recognised. Gr4nts ond leg&ciu are recognised wlwi tb¢ formal offer in writing of the fiwdin& 1$ received by the PCC. l{e) Chsritable Aetlvltles Trading A¢tiiities and al] Other Income Statutoryfees for weddings and funerals are recognised wbell the office oc¢urs. Trading activities ar¢ there incotDe is receivable in rewrn for selling goods orproviding services and is recognised when receTved. l(D lllvestment Income Dividends are accoullfed for ert due and payable. Int¢r¢st entidemellts auounted for as they acc. l{g) GalDs and Losses on InvestllJeJitS Reaiised gains are recogllised the itThcsknents are sold. Unreal]sed 1$ and losses ar¢ accountd for on revaluation at 31st December. Page 9
HORSTED KEYNES PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMEIYTS (continued) For the Year ended 31st December 2023 ilh) EIpendlture Expenditure is r¢co)ised when there is evidetice of thtitlcmrn4 pay1 is probable, and the amowit can be m¢&swed reliably. GraDt5 GrdnLs and donations are ac¢outttrd for wbetl paid ov¢r. or when awarded vthere the award Ct¢S a binding oblig?tion onthe PCC. l(i) Ckarlt#bl¢ Activitiej The diocesan pISh ¢ontributiott is accounted for on aD annual basis, reflectin8 the Allocation set by our Deanery. Any parish contribution unpaid at 315t D¢c¢mber is provided for in these aceowits opeTationai (though not a legal) liabiliry ond is showm as a ¢th1Or in the balance sh l{k) Fixed A$$ets Tongiblefued tusetr. CoDsecr8ted and beneficed property of any kind is ex¢lud¢d from the accounts by s.10(2) of the Clwiiies Act 2011. Movable church fiwnishings held ty the ReCr and Cburchward¢ns on special t$t for thc PCC, alld which Tcquire a faculty for disposal. ar¢ accounted tts Inlenable properly unless consecTatrd. They ¢ listed in the chur¢h's invcniory which can be inspected but are not inoludcd in the financi8151aiements. For inalienabl¢ property acquired prior to 2000, thrrc is itisuffi¢i¢nt ¢ost infornl10n available therefw¢ su¢h assets are not valued in the financial 5tstements. Individual items ocquired sinee l$t Janu¥ry 2000 hove been capLtali$ed in th¢ fUncIal statements and depre¢i&ted over their uscful economic life. All expenditure iD¢urr¢d in the year on Consrated or beneficed buildiD% indivtdual items ¢OS¢ing under £5,000 or on the repair of movable church furnishings 8cquued before 1st January 20(M) is WTitten off. Frtthold land attd buildings are valuvj al ori cost less provisions Cor depreciatson. Renovotions to freehold buildiD8S tre valued ai Original cost less provisions for dep1•0. Depreciation Dcpre¢iation i5 ¢alcuia¢ed to write down the cost of tswble fixed &ssets ov¢r tb¢ir ¢xp¢ct¢d useful lives. The rates generally applicable are :_ Fre¢hold land and buildings R¢nov4tionb to freeknld bw"Iding8 IO/• ptt annum on a reducing balatt basis. 2¥• ptt Hnnum ott a reducing balance basis. Inveslments . Investm¢nts aTe valued at markd value at 31st December. INCOME AND ENDOWMENTS Unrestricted R&%tricted Endowment TOTAL FutMIs Funds Funds 2023 FUNDS 2022 2(a) Dollations and le8acAe6 Planned giving CollcctioD5 (opcn plat¢) Donations Gift aid tsx claimed GraT]ts receTv¢d Legacies 40,876 6219 2.972 11,701 2.142 3.681 1.172 6.615 1.764 3.809 44,557 7,391 9.587 13,465 5.951 44.176 7,922 35,034 19,551 2,300 20,000 128,983 63,910 17,041 80,951 21b) Charitsble attiviti&s Parochial Fees incow 3.449 3,449 3,449 3.449 4.006 4,006 Page 10
HORSTED KEYNES PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS {continued) For the Year ended 31st December 2023 21c) Ot} trading activities Fundraising SDCOllLe Hall incomc 227 15,485 11.692 11,919 9,741 2(d) Investrnents Dividends attd mterest received 26 2.226 562 562 2.788 2.303 T(YfAL R5,297 29,295 114.592 1 $7.304 EXPENDITURE unrestrlcd Restricwl Endowment TOTAL Funds Funds 2023 FUNDS 2022 31&) Raising funds Fundraising costs 2.506 07 3(b) Charitable dctivhti¢s Missionary and chaTitsble Ministy costs '. Diwewl Pari5b ContributiOD Other mitiistry Costs Church running cxpetuey ChuThh & hall- Major repairs & fabric costs Upkeep of s¢rviccs Youth WOTk. training al mission Parish magazin¢ Cburch hall nmnin8 costs Supp(Trrt costs Admini5tr8tive costs Depreciatson 1.136 2,156 3292 4,607 51,1¥6 5,010 7,133 51,186 5.010 10,390 46.703 1.436 2.648 6.107 11,160 861 4.150 945 143 888 49,157 5,221 9,657 S,950 3.257 46.703 607 829 1,648 2,464 6.137 10,868 1,688 3,966 959 101784 6,107 11,160 861 4.015 135 945 945 82.978 TOTAL 85.484 64.172 945 103 616 STAFF COSTS The PCC had no employees dutiDg the yur. INDEPENDEIYT EXAMINATION FEES The Independcnt Examiner has noi ¢h&rged a fee for his wor ANALYSIS OF NET ASSETS BY FUND Funds Futhds Fun& TOTAL Fixed &ss¢ts Current &8sets Cutrent liabilities 56,1(X) 22,811 21.777 31.091 (3.372) {1.541) 80,630 159.541 52.868 14.913) FuJd Balances 74.505 52,361 80,630 207,496 Pa8cII
HORSTED KEYNES PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENfs (eontinued) For tbe Year ended 31st December 2023 FIXED A&SET INVFSTMENTS M8rkd Valu¢ Jauuary 2023 Addltions Gainsl (lossts) M8rk¢t Vhiue 315t DcccmbcT 2023 Church of England CBF Investment FuDd: 538 income slwes (see Do* below) Church of England CBF Global Equity Fund .. 25306.82 inconje sbares 11,115 1.046 12,161 66,645 9,933 76,578 77.760 10.979 88,739 Note- the 538 shar¢s arc held sp¢¢ifi¢4lly for the Brid8eman Churchyard TnW Fund. TANGIBLE FIXED ASSETS FhOld Builditt land and rnwvatiOll8 bjilth'ngs TOTAL Cost '. At I st January 2023 Addilions Disposali Al 31$1 December 2023 69.681 44.927 114,608 69.681 44.927 114.608 Dcpreciauon . At 1st January 2023 Char8e for the year Disposals At 31st tk¢emb¢r 2023 20.691 490 22.170 455 42.861 945 22,625 43,806 N¢1 book amounts At 315t December 2023 425,5tK) 22.302 7(I.¥U2 Ai 3Jsi December 2022 48.990 22.757 71, 747 The freehold land and buildings comprise the Martindale Centre. the legal estate of wtrLich is vested in the Chichester Diocesat] Fund and Board of Financ¢ Ilnwrated) &5 Custodian Trustee for thc Hor5ted Kw¢5 PCC in accordance with the provisions of the Parochial Church Cowicils (Powers) M¢asur¢, 1956. DEBTORS 2023 2022 R¢coverdble Gift Aid Other • debtors 2.082 51X 2.600 3,491 1,041 4.532 10 LIABILITIES: AMOUNTS FALLING DUE wfniiN ONE YEAR 2023 2022 Cr¢ditors for gi)od$ alld setwices D¢fery¢d incornc 4.663 250 4,913 2.394 2.002 Page 12
HORSTED KEYNES PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS (contlnued) For the Year ended 31st December 2023 11 UNRESTIUCTED FUNDS Balance #t 1st. Jaullry 2023 Balancc at 31st Ikcember 2023 ReSOue tncotlltng Ouwoing Trdnsfers Gains Geyjeral FuDd D¢signated Fabric Fund 50,759 16.656 67,415 84,754 543 85,297 85,484 4,432 54.461 20,044 85.484 7,277 12 RESTRicfED FUNDS Balance #¢ Isl. January 2023 Movemetjts i R0re Balance at 31st Decernber 2023 Incowittg Ouf8oiD8 Transfers Gains Builditjg Repairs and Fabric Fu1 Charithble Couections Fund Faith in Action Fund P&P Ma812inc Fwjd (il Manindale Centre Income Fund (li) Building Appeal - 2004 Fund (iii) Rcstricted Gift5. Fund Friend& uf Hor5ted Ke)nes Church (iv) R¢stricted Mdrtind&le Lentrc RerbiSknenI Fund Iv) St Giles North Annex Appeal Fund (vi) 9207 1.858 2.156 5,744 2.156 79 5,400 6.469 6.107 362 2,333 2.139 2J33 1,222 696 44,280 1,039 1.165 16,608 203 1.861 23,6116 81 2.496 39,698 182 2fi,662 84,582 182 2.247 52,361 64.172 2.656 (i) The P&P Magallne Fund reiveS donatiotL4 grants specifically for th¢ production of the parish magazine. (ii) The balance on the Martindal¢ Centre Incomc Fund represents the Cost of some of the historical building renovations. lili) This fvnd was opened with donatsons from th¢ Village Appeal iti 2(KM for repairs io the fabric of the church. Monthly donations hav¢ conts.nued to flow into the fund durin8 thc y¢ar. (iv) This restrictcd fund was14un¢hed in Srptetnb¢r 2011 specifically for the maintenan¢¢ of the fabric of St. Giles Church churchyard ID Hors*d Kcyn¢s. (v) This filnd was [r-Olled in 2019 to re¢eivc r&4tri¢ted income WardS th¢ $t ofrefurbisbm8lupgrnding the heatin 5y51em in the Martindalc Centre. Most of thc costs of refiEshinglUpd18 the heatsng syst¢rn were charged io the fund in 2019, leaving a small balaDcc to cary fonvard. (vi) This appeal fund wms opened ID MarLb 2016 fid th¢ platminB and COnstntion of an annex to the north of the St Giles church building. IJ ENDOWMENT FUNDS Balance at 15L January 2023 Movements in Balance at R¢sources Gainsl 31&t December Incotnin8 Outgoing Transfers 0058es) 2023 Martindale Centre: C8pital Endowment FuDd 69.413 945 68,468 Bridgeman Tnut Churchyard Fund 80,529 945 1.046 80,630 Page 13
HORSTED KEYNES PAROCHIAL CHURCH COUNCIL NOTES TO TifE FINANCIAL STATEMENTS (continued) For the Year ended 31st December 2023 14 PRIOR YEAR STATEMENT OF FtNANCIAL ACllVITIES COMPARATIVE FIGURES FOR THIS YEAR STATEMENT OF FINANCIAL AcfTviTIES For the Year ended 31st December 2022 Unrestricted Fund5 Restricted End(>wl TOTAL FUNDS 2022 2021 Not¢ Income And endowments from: DonxLion$ 4nd legacies CharAtable activities Oiher trading activitie8 InVesthnIS 2(8) 2(b) 2(¢) 2(d) 69.606 4.006 12.746 1.802 59,377 128,983 4,006 22.012 2.303 87.684 5,617 11.876 2.203 9.266 501 TOTAL 8.160 69.144 1073AO Exp¢ndlture on: R&i5illB fund8 Charitable a¢tivitie8 3(A) 3(b) 749 82.886 1.083 17.939 1.832 101.784 1.057 112,900 959 TOTAL 959 103 616 N¢t Ball/(109$eS) on ittv¢5trnents (7.183) <2.909) (1.483) (11.575) 11,569 NET INCOMEI{EXPENDITURE) (2.658) 47.213 (2.442) 42.Il3 4,992 TranreTs betw¢¢n fvnds NET MOVEMENf IN FUNDS 12,6581 47.213 (2,442) 42.113 4,992 Reconclllatlon of Fund Fund Balances brou8ht fotw4rd èt l$t January 2022 70.073 37.369 82.971 190,413 185,421 BALANCES CARRIED FORWARD AT 3J5¢ DECEMBER 2022 67.415 84.582 110.529 232,526 190,413 Page 14