COMPANY NO: 08824540 CHARITY NO. 115660F: trtGIVINGSCHEME ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR NDIN 31DE 2022
REFERENCE AND ADMINISTRATIVE DETAILS STATUS Parish Giving Scheme is 8 charitable company limited by guarantee, incorporated on 23rd December 2013 and registered as a charity on 17th March 2014. GOVERNING DOCUMENT The Company was established under a memorandum of association which sets out its objects and powers and is governed under its articles of association. COMPANY NUMBER 08824540 CHARITY NUMBER 1156606 REGISTERED OFFICE & OPERATIONAL ADDRESS 76 Kingsholm Road, Gloucester. GL13BD PRESIDENT The Right Reverend Rachel Treweek TRUSTEES Theo David Platt {Ch8irl Adrian Beney Phillip Blinkhorn Revd David Brooke Julie Dziegiel Michael Eastwood Rebecca Evans Revd Dr Kevin Grumball Sammi Tooze {appointed 21 June 20221 Grant Forrest CHIEF EXECUTIVE OFFICER HEAD OF OPERATIONS Helen Taylor (reslgnod 31 July 2022} Brendan Harris HEAD OF IT BANKERS Barclays Bank, Britannia Warehouse, The Docks, Gloucester, GL12EH AUDITOR Buzzacott LLP, 130 Wood Street, London, EC2V 6DL SOLICITOR Veale Wasbrough Vizards. Narrow Quay House, Narrow Quay, Bristol 8S14QA PARISH GIVING SCHEME
REPORT OF THE TRUSTEES foryearending 31st December 2022 FOREWORD FROM THE CEO The Parish Giving Scheme exists to serve the Church., being built by the Church for the Church, it is unequivocally providing a low-cost, secure and simple-lo-use solution that f8cililales sustained and inflation- linked income that enables Ihe Church to flourish. Through the actions of radical generosity, generosity as laught through the Gospels, our communities are being enriched by the life of the Church. Indeed, we will continue lo see the Kingdom of God growing in our communities Ihrough the experience of radical generosity in its many forms. Throughout 2022, across the country, the effects of the cost of living and the energy crises compounded voluntary income challenges across Ihe sedor. Churches were no less at risk of losing income. Yet, through our data, across Ihe Ihousands of churches using the scheme. we have seen another year of increased giving, alongside the generosity of Ihe givers who have inflalion-linked their giving, which equates lo a further £700,000 given across the year. On behalf of the receiving churches, we express our gratitude to all those who choose to give through PGS. The strategic priority for 2022 centred on the need to set 8 clear vision and direction of travel for PGS as it navigates the next season. Working collaboratively with our members and partners. we launched a new organisational vision, '8dvancing regular giving in every church,. Furthermore, we clarified our values and culture, developing 8 people strategy thal creates a workplace where every team member can grow and develop and increases organisalional capacity. We delivered further development on the p181form that enables givers lo give a one off online transaction using a debivcredil card or ApplelGoogle Pay. We worked hard Ihroughoul 2022 to develop and test robustly so that we could launch well in December 2022 to every PGS parish. Take up of the new functionality has been strong and will be a key focus for 2023. The additional functionality, whilst in ils infancy, has already led to increased income for churches and aligned with our vision, prompting further regular giving registrations. We continue lo see significant growth in diocesan membership, parishes, and givers, as well as an increase in the average weekly gift value, which, combined with Ihe inflalion-linked scheme, is bringing remarkable resilience for the Church financially, securing ils financial footing and enabling churches to continue to be a presence in the community. Our vision is to be part of God's story of advancing regular giving in every church. We look fomard to another significant year, and beyond, of joining in with what God is already doing in our Churches. CEO of Parish Giving Scheme PARISH GIVING SCHEME
REPORT OF THE TRUSTEES for vear endinq 31st December 2022 Vision: The Parish Giving Scheme is 'advancing regular giving in every church, Mission: We support the Christian community to engage in a culture of generosity through regular giving. During times of change, we a helping to grow the Kingdom of God by enabling and inspiring committed regular giving, which transforms the life and ministry of churches and charities. Our approach is lo support all givers in whichever way they choose to give, lo become regular givers. VALUES Generosity (see Luke 10.'25-371 Through the actions of 'radical generosity,, generosity as taught through the Gospels, our communities are being enriched by the life of the Church. It is through radical generosity, in its many fom)s, that we will conlinue to see Ihe Kingdom of God growing in our communities. We as a team value generosity - we live this out by encouraging generosity in many forms, including giving our time lo serve our local communities. Relationships (see Philippians 2'.5-111 in Cornrnunity (see Romans 12'.5) Our relationships should be the same as Christ Jesus.. demonstrating humility. integrity, and obedience. We recognise that relationships are key to our success in supporting the Church through our ministry. In building relationships, we build a community to encourage generous giving as we work together. We as a team value relationships in community - we demonstrate this by actively and openly engaging with those we work with {internally and externally) through regular conversation, meetings and sharing of ideas. By building relationships and community. we create effective partnerships, knowing that we can deliver more together than working alone. Learning (see Proverbs 18'.15) 'Every day is a school day,; we approach each day al PGS with the intention of learning, recognising that to be better lomorrow, we need to learn today. We as a team value learning we invest in the team lo prepare for fulure challenges and opportunities. We listen lo all those with whom we have relationships so that we can adapt and grow our services, aligning the pursuit of our vision and mission wilh their needs. Excellence (Colossians 3'.231 Our creator God inspires us through the excellence of this world that He created lo deliver aspects of PGS with excellence. We commit our plans to God, we seek His will to help us be the best we can. living the vision of PGS. Recognising that excellence is different to perfection. we aspire lo be exemplary in our approach to people, the planet, and prosperity. being excellent in all we do as stewards of the resources we are entrusted with. PARISH GIVING SCHEME
REPORT OF THE TRUSTEES for year ending 31st December 2022 STRUCTURE, GOVERNANCE AND MANAGEMENT The Trustees present their report and the audited financial statements for the year ended 31 December 2022. Reference and administrative information set out on page 1 forms part of this report. Parish Giving Scheme (PGSI {also referred lo as The Scheme) was incorporated on 23 December 2013 and registered as a charity on 17 March 2014. Dioceses that participate in the activities of PGS are required lo become members of ihe company. PGS commenced independent operations on 1 November 2014. Prior to this, equivalent activities were carried out by the Gloucester Diocesan Board of Finance (GDBFI and reported within their slalutory accounts. Under prior agreement on 1 November 2014 givers migrated from giving to GDBF to giving lo PGS. Truslees The PGS has a board of up to 12 trustees. Trustees are recommended by the Board and agreed by the members al the Annual Members Meeting {AMMI. There are currently nine Trustees reflecting a range of skills pertinent to the flourishing of the PGS service and the geographical spread of The Scheme around England. Where new Trustees are appointed, they are given a formal induction lo the work of PGS by the Chair and CEO. They are provided with information they need lo fulfil their roles, which includes information about the role of Trustees and charity law. New Trustees are nominated by members of the Board, appointed where they have the necessary skills to contribute lo the charity's management and development, and the appointment approved at the Annual Members Meeting. During 2023, there are plans to develop further training and induction as part of the ongoing recruitment process. Board Meetings Trustees are expected to engage actively in the governance of PGS. Board meetings are held quarterly where Trustees receive regular reports on the development, activity, and performance of the PGS organisation and service. The Board make strategic decisions on the operation of The Scheme, including structural and Inancial arrangemenls, the terms of business for The Scheme and approving, monitoring and reviewing development proposals. embership Aembers of The Scheme are participatin9 dioceses that have signed the Members Agreement and paid the subscription fee. Members meet annually al the AMM to approve new Trustees and recelve the Annual Trustees Report and accounts as well as hear about the development of The Scheme. Key Management Personnel The key management personnel of the charity include the Trustees listed on page 1, together with the Chief Executive {Grant Forrest). Whilst the Trustees are not remunerated for their services, the remuneration of the paid post holders is determined by the Trustees with due reference to charity sector benchmarks and relaled infomialion. Following the departure of the Head of Operations, an interim role has been created that is substantially different to the Head of Operations role and, therefore, no longer recorded as a member of the key management personnel. PARISH GIVING SCHEME
REPORT OF THE TRUSTEES fnr vp.xr p.ndinn 2lqt Dpcember 2022 OBJECTIVES The objects of the charity are: To promote and assist the work, objects and purposes of the Church of England (including the raising of funds); To promote and assist the work, objects and purposes of charities which advance the Christian religion, whether or not within the Church of England (including the raising of fundsl- and To support the efficiency and effectiveness of the administration of charities {including by the raising of funds) which advance the charitable purposes referred lo above. The Trustees continue lo regard and consider the Charity Commission's general guidance on the organisalion's public benefit in Ihe review of its aims and objectives and in planning future developments. During 2022 the core PGS service has enabled over 4,500 Church of England parishes lan increase of 34 % on 20211 to access funds from more than 68,000 givers lan increase of 11 % on 20211, and the accompanying Gift Aid, more quickly and efficiently than would have Othelse been the case. This supports parishes to belter fulfil Iheir key activities of promoting the whole mission of the Church throughout their community. The impact of the cost of living crisis was signifi¢anl in all aspects of life, and churches faced many challenges, including financial sustainability. The Scheme proved ils value lo the Church of England during this time by continuing lo enable committed regular giving in¢re8sing inline or above inflation lo support the Church's mission locally. 2022 Highlights for the PGS Further details on page Parish registrations increased during 2022 by 34° Launch ofthe One Off Giving Platform Over £700,000 commilled through the Inflalion-In¢rease option PARISH GIVING SCHEME
REPORT OF THE TRUSTEES for year ending 31 st December 2022 ACTIVITIES PGS'S principal activity in pursuil of its objectives is to provide the most efficient and effective way for people lo finanaally support the activity of the Church of Eng18nd locally. Isiol thernonth This is done through a regular giving scheme which collects gifts through Direct Debit and makes Ihe giving available to be spent in 8 specified churchlparish within 10 days. Givers can also commit to annually inflating their gifts lo ensure its spending power is maintained. The diagram to the right illustrates the operation of this system during the period of this report. u(É6150 e thekthur¢h i contlllull PG5a¢cLWJ uo PARISH PGSxnU5 GrfEAéol C115tr lhr¥th SCHEME (¥¢A +£ItsD Gift Aid is clalmed each month on all eligible gifts and is fOarded to the specified churches as soon as it is received from HMRC. This activity has been designed to specifically support and enhance the ecclesiology of the Church of England., being one body working in and for every community in the country. The administralive costs of this 8clivily are funded by participating Diocesan Boards of Finance who make contributions to PGS in order to enable the extension of this activity into their respective region. By the end of 2022, regular giving from 34 different dioceses were being processed in support of the Church's work. STRATEGIC REVIEW ACHIEVEMENT AND PERFORMANCE The principal activity of PGS Ss the provision of a professional and cost*ffective scheme to enable givers lo support their local church. From the early days of its life in the Diocese of Gloucester, The Scheme was designed to be able to handle a substantial number of givers and to be usable for any parish regardless of size, or theol{ICal tradition. The simplification of parish administration is an important additional benefit, as this provides an element of future- pr<)ofing to the Church's principal income stream. The last few years have been full of uncertair)ly and our members, parishes and givers have been dealing with unprecedented challenges in the face of the Covid-19 pandemic and 8 cost of living crisis. In a period of change, regular giving provides stability and confidence and PGS has responded, working tirelessly to ensure we continue to enable committed, regular giving which transforms the life and ministry of churches. PARISH GIVING SCHEME
REPORT OF THE TRUSTEES for vpar p.ndinn 7lqt Dp.r.p.mhpr 2022 2022 STRATEGIC PRIORITIES Our strategic prionties were.. Developing the giving platform both in features and security We invested in the one off giving feature to enable a secure and simple solulion for parishes to have online one off transactions with automated Gift Aid and consolidaled payments. Growth in the number of dioceses, parishes and givers Through the combined efforts of PGS, alongside the work of the Church of England's National Giving Team, Diocesan Teams and Parish leadership, we have seen significant growth once again throughout the year.. * From 31 Member Dioceses to 34 3,500 parishes to 4,700 61,000 monthly direct debits lo 68,486 £60m total, giving per annum processed to £75m inc Gift Aid (A register of members is provided on pages 33- 35) Improve our financial resilience We have achieved a surplus budget lo enable future re-investmenl into Ihe platform • We developed and implemented a new membership subscription calculation that aligns diocesan payments closer to the usage of the system and enables long-term financial sustainability for PGS which will be used for diocesan contributions from January 2023 We began to explore longer-lerm objectives to enable PGS to have wider usage beyond the Church of England. Inflation-linked giving In reviewing our approach lo inflalion-linked giving, we recognised its strategic importance to the wider church., indeed. if there were lo be a 'church price index, anecdotally. il was felt this would have been much higher than the Retail Price Index. Therefore, it was important that the inflalion-linked giving remained a core part of the PGS solution, but we also understood Ihe challenges that many givers would face. By introducing a supplementary letter Ihat supported the annual nolificalion, we reassured our givers that they remained in control of their giving., ever5 with Direct Debit, they could ¢ontacl PGS io make changes without pressure. The response to the inflalion-linked giving has been overwhelmingly positive. More than 900/0 of givers opted to continue lo give in line with inflation or increase further, plus 5010 chose to part inflale the giving al an average of 8 40/4 increase. giving a total additional commitment for the year of over £700,000. This is 8 significant milestone for all those churches who have benefited from introducing Ihe PGS plafform into their parishes and encouraging th8 opt-in to inflation linked giving. PARISH GIVING SCHEME
REPORT OF THE TRUSTEES foryearending i1st December 2022 People Strategy During 2022, the PGS le8m reviewed how il could best serve the parishes and givers using the service whilst also creating long-term opportunities for personal growth and development for each team member. We delivered a renewed people strategy that sel out a vision of a focused culture of living out our values, creating the ability for the team to grow, develop and have their efforts recognised appropriately. Whilst Ihe overall structure has had little change, the change in approach has increased internal capacity. created clarity of roles and is a significant factor in the success achieved Ihroughoul the year. Looking ahead to 2023. we are recruiting for a Customer Service role through the apprenticeship scheme provided by a local college, to supplement our workforce fvrther whilst also embedding our value of learning. 2023 STRATEGIC PRIORITIES By creating clarity of vision, we now have an aligned strategic plan that secures the future of PGS. In pursuit of achieving our vision, in 2023 we will be focused on: Deeper growth We will continue to work with the diocesan teams to fosler a culture of generosity, implementing the PGS solution into more parishes within member dioceses. Currently, the average number of parishes using PGS within a member diocese is 480/0 and we are working with dioceses to increase this. System innovation Our wsion for the platfomi is to be a one-stop-shop solution that brings logether a fully integrated giving platform, enabling regular, one off, contactless and mobile funclionalily and any future developments in the fintech sector that would enable churches to receive giving income. For 2023, we plan to introduce contactless giving within the platform through partnerships with existing providers. Closer partnership with the Church of England Whilst the charity membership is held al diocesan structures, our partnership with the National Church Is paramount to our success. Our organisalional v81ues include community and relationship, and we are embedding these values into how we work with OLJr partners. The current operating model requires a diocese lo join as a member, thus limitlng our ability to achieve our vision of every church. The goal for 2023 is lo build on our partnership with the National Church and identify alternative operating models that could enable every Church of England Parish to be able to access Ihe PGS platform. PARISH GIVING SCHEME
REPORT OF THE TRUSTEES forvearendina 31st December 2022 KEY STATISTICS: GIVER VALUE PGS seeks to improve the quality of experience of giving to support parish ministry, improve the effectiveness of gifts by giving givers the option of maintaining their "real value" and reduce Ihe local administrative burden on parishes. The following are some of the regularly monitored performance measures used by management.. Measure Dec-21 Dec-22 Change Number ofGivers 61,655 67,742 +10% Number of Churches 3.709 4,083 +100 Total fomarded to Churches in month £5.7M £6.6M +160 Average Weekly Gifl {Monlhly Givers) £16.82 £18.17 +8° Percentage of gifts on which Gift Aid is claimed 88.50° 88.000 Percentage of givers opting to inflate 53.00° We have many testimonials of parishes, which have seen significant increases when they have run a good generosity campaign alongside the introduction of the PGS. PGS is set up to serve the entire church family; however much individuals wish to give and whether or not Gift Aid can be claimed on their giving. The lowest monthly gift handled is £1, the highest is £3,600. Both givers receive Ihe $8me high-quality materials and $eNice. PARISH GIVING SCHEME
REPORT OF THE TRUSTEES for year ending 31st December 2022 GROWTH 2022 was the 1 Oth year of the PGS serving parishes and givers across the Church. The growth shown has been enabled by both growing within existing areas of operation and moving inlo new dioceses and parishes. Year 2014 2015 2016 2017 2018 2019 2020 2021 2022 Forecast 2023 Underlying gifts £5.3m £8.1m £13.3m £19.Om £26.Im £36.5m £46.2m £53.3m £61.Om £80.Om Gift Aid reclaimed £1.3m £1.9m £3.2m £4.5m £6.2m £8.7m £10.8m £12.4m £14.1m £17.Om Total forwarded £6.6m £10.Om £16.5m £23.5m £32.3m £45.2m £57.Om £65.8m £75.1m £97.Om to parishes Givers 7.244 11,475 19,267 25,533 37,508 44,963 54,002 61.655 67,742 75,000 The Trustees expect that Ihe income of Ihe charity in 2023 will again see substantial growth. This is expected to come from- Bath and Wells Diocese moving to full diocesan launch in June 2023. Working in close partnership with the National Giving Team lo maximise potential when 18unching PGS in dioceses and parishes. Existing dioceses continuing to attract new givers and parishes. This is expected to increase in comparison to previous years with greater numbers of people using the digital platform, which launched on 1st March 2021. PARISH GIVING SCHEME 10
REPORT OF THE TRUSTEES for vear endinq 31st December 2022 DIOCESAN ROLLOUT PGS was established lo serve the Church and understands Ihe importance of the unily of the Body of the Risen Christ. In ils operation il therefore actively seeks to enhance the common purpose of the Church and its structures. The growth of PGS and its resourcing occurs through the Church of England diocesan structure. Diocesan Boards of Finance IDBFS) are invited lo support the roll-out of PGS to parishes within their diocese. In committing to support PGS, DBFS agree to become a member of the company, pay an inilial diocesan membership contribution to PGS lo provide operational reserves and make 8 grant lo PGS to cover ongoing service cor)Iributions to cover the overhead costs of operating wilhin the diocese. This approach ensures the PGS has the formal support of the member dioceses and is effectively supported by DBF staff. It is therefore positioned as a service provided by DBFS in support of parishes and is seen as a prime example of DBF support for the local church. PGS also seeks to be an excellent model of inler-diocesan collaboration, with advisers from participating dioceses helping neighbouring colleagues, and good praclice being refined from one launch to another. PARISH GIVING SCHEME 11
REPORT OF THE TRUSTEES for year ending 31st December 2022 FUNDRAISING STANDARDS The Charities Act 2011, as amended by the Charities (Proleclion and Social Investment) Act 2016, requires charities to publish information about fundraising standards. The Parish Giving Scheme does not itself carry out fundraising activity and therefore has nothing lo report. FINANCIAL REVIEW Most of the PGS restricted income relates lo the restricted parish gifts and associated Gift Ald reclaimed. For 2022, the combined gift and Gift Aid amounted lo £75.1 m {2021'. £65.8ml. An equivalent amount is recorded as restricted expenditure. reflecting that this full amount is returned lo the parishes. The unreslricled income for PGS mainly comprises ongoing services contrlbutions from member dioceses of £753k {2021.' £589kl and initial contributions from member dioceses of £40k12021'. £40kl For further details, see note 2 on page 25. Unrestricted expenditure for 2022 amounted lo £816k 12021.. £626kl. For further details. see notes 3 and 5 on pages 26 and 27. Following the launch of the digital platform, the PGS Trustees recognise the creation of Ihe digital platform as an intangible asset. Given the significant investment made lo digilise the giving experSence on the charity's balance sheet, for parishes, givers and dioceses, this approach recogrsises the value of the website. The Trustees also recognise that the lifespan of the digital platform is relatively short as technology advances, so does the need to review regularly the underlying systems and processes. For the digital platform, it has been agreed lo base the life span on four years, which equates lo two cycles of support and maintenance with the CRM provider. PGS is operating at less than a penny per pound processed, making the service one of the market's most competitive. An equivalent seNice provider charges £0.035 per pound processed, over three times Ihe cost of PGS. RESERVES POLICY AND POSITION The major part of the charity's income and expenditure is in relation to the amounts collected from givers and returned lin full) lo the relevant parish. The Trustees recognlse that these amounts are wholly restricted and therefore cannot be accessed or used by the charity for its day-lo-day operations. As such, the Trustees. focus is principally in relation to the availability of unrestricted funds. To support the charity's future and necessary investment in IT, the Trustees acknowledge that al least part of the charity's unrestricted funds should be earmarked for such purposes. As such, an amount of £200k has been set aside as a designated IT fund at 31 December 2022 {2021: £200k). The Trustees have also separated the funds that are represented by the carrying value of Ihe charills intangible fixed assets in relation to the website development 8nd the digital project. This is on the basis that these intangible assets are essential to the day-to4ay operations of the charity and, therefore, the carrying value is not available to Ihe charity for ils operational needs. As such, an amount of £324k has been set aside as a designated intangible fixed asset fund at 31 December 2022 {2021- £334k). PARISH GIVING SCHEME 12
REPORT OF THE TRUSTEES for ypar ending 31 qt Décember 2022 RESERVES POLICY AND POSITION (CONTINUED) The remainder of Ihe charity's general unreslricled funds {or free reserves) are available to the charity for its day-lo-day requirements and to cover the cost of unforeseen contingencies. PGS has a slmple structure and uncomplicated activities, which is funded by a monthly subscription from Ihe dioceses. However, the Trustees have agreed that free reseNes should be maintained to meet unforeseen operational costs equivalent to a minimum of three months of operating costs1£200k). Examples of how Ihese reserves might be used are- al The risk of unforeseen emergencies or other unexpected need for funds, such as an unexpe¢tedly18rge repair bill or finding 'seed-funding' for an urgent project. bl Covering unforeseen day-lo-day operational costs, such as employing temporary staff to cover a long-term sickness absence. c) Fulfil the financial liabilities in the event of the charity ceasing operations. d) Planned short term commitments for which a designated fund has not been established. {A planned spending commitment that cannol be mel from future income would imply a need for a specific sum to be set aside- often this amount will be included within designations in accounts). e) The need to fund short-term deficits in a cash budget. The Trustees will review any excess reserves annually and respond accordingly based on the needs of the organisation. Al 31 December 2022, the charity held free reserves lot811ing £206k, which is broadly in line with the agreed policy, and therefore the Trustees are satisfied with the year-end free reseNes position. RISK MANAGEMENT The Trustees have a risk management strategy which compr(ses'. An annual review of the principal risks and uncertainties thal Ihe charity faces The establishment of policies, systems and procedures to mitigate those risks identified in the annual review The implemenlation of procedures designed to minimise or manage any potential impact on the charity should those risks malerialise. The Trustees place high Importan on managing repulalional risk. We judge there to be two princlpal contributors to reputational risk the first is systems failure which would prevent money being fOarded to parishes on time, which is managed by investing time and money maintaining systems as described above. The second element of risk is cyber-fraud, which is managed by buying in external expertise to support the development and monitoring of IT security across the plalfom) and working environment. PARISH GIV1NG SCHEME 13
REPORT OF THE TRUSTEES for year ending 31st December 2022 COMPLAINTS POLICY PGS has a complaints policy and procedure for our service users and sets high standards for our staff. The Truslees are pleased to report that during 2022 no complaints were received {2021.' nill. When informal feedback is received from member dioceses or the network of giving advSsers, this is considered appropriately, either operationally or strategically, depending on the nature of Ihe feedback. PARISH GIVING SCHEME 14
REPORT OF THE TRUSTEES for vear endina 31st December 2022 STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees (who are also the Directors of Parish Giving Scheme for the purposes of company lawl are responsible for preparing the trustees, report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Acoounting Practice). Company law requires the Trustees lo prepare financial statements for each linancial year, which give a true and fair view of the slate of affairs of the charity and of the income and expenditure for the period. In preparing those financial statements the Trustees are required lo.. Select suitable accounting policies and then apply them consistenlly Observe the methods and principles in Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 Make judgements and estimates that are reasonable and prudent Slate whether applicable United Kingdom Accounting Standards have been followed. subject lo any malerial departures disclosed and explained in the financial statements Prepare the financial statements on the going concern basis unless il is inappropriate lo presume that the charity will continue in operation. The Trustees are responsible for keeping proper accounlir)g records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them lo ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Each of the Trustees confirms that to the best of their knowledge there is no information relevant lo the audit of which the audllors are unaware. The Trustees also confirm that they have taken all necessary steps to ensure that they themselves are aware of all relevant audit information and Ihal this information has been communicated to Ihe auditors. This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006. The trustees are responsible for the maintenance 8nd integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. THE TRUSTEES The Trustees who served during the period up to the date of this report are shown on page 1. AUDITORS The reappointment of Buzzacoll as auditors to PGS will be proposed at the Annual Members Meeting 2023. Approved by the Trustees on .11 l.06.1.. 2023 and signed on their behalf by.. Theo Platt Chair of the Board of Trustees PARISH GIVING SCHEME 15
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PARISH GIVING SCHEME Opinion We have audited the financial slalements of Parish Giving Scheme (the 'charilable company'l for the year ended 31 December 2022 which comprise the Statement of Financial Activities, Balance Sheet, Slalement of Cash Flows and notes to the financial slatemenls, including a summary of significant accounting policies. The financial reporting framework that has been 8pplied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Slandard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial slatemenls.. Give a true and fair view of the state of the charitable company's affairs as 8t 31 December 2022 and of its income and expenditure for the year then ended Have been properly prepared in accordance wilh United Kingdom Generally Accepted Accounting Practice Have been prepared in accordance with the requirements of the Companies Act 2006 Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI {ISAs IUKII and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial slalemenls in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concem In auditing the financial statements, we have concluded that the TTuslees' use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating io events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect lo going concern are described in the relevant sections of this report. PARISH GIVING SCHEME 16
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PARISH GIVING SCHEME Other information The other infomation comprises Ihe information Sncluded In the Annual Report and financial statements other than the financial slatemenls and our auditor's report thereon. The trustees are responsible for the other information contained within the Annual Report and financial statements. Our opinion on the fin8nci81 slalements does not cover the other information and, except to the extent othenmise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other information and. in doing so. consider whether the other infomiation is materially inconsistent with the financial statements or our knowledge obtained in the audit or othetwise appears to be materially misstated. If we identify such material inconsistencies, or apparent material misstatements, we are required lo determine whether this gives rise lo a material misslalement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material mSsstatement of this other Snformalion, we are required to report Ihal fact. We have nothing to report in this regard. Opinions on other matters prescribed by Ihe Companies Act 2006 In our opinion. based on the work undertaken in the course of the audit.. The information given in the Report of the Trustees. which is also the directors, report for Ihe purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial Sstatements The Report of the Trustees, which is also the directors, report for the purposes of company law, has been prepared in accordance with applicable legal requirements Matters on which we are required to report by exception In light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us lo report to you if, in our opinion.. Adequate accounting records have not been kept by the charitable company, or returns adequate for our audit have not been received from branches not visited by us The financial statements are not in agreement with the accounting records and returns Certain disclosures of Trustees, remuneration specified by law are not made We have not received all the information and explanations we require for our audit The Trustees were not entitled to lake advantage of the small companies, exemptions in preparing the Trustees, Report and from the requirement to prepa a strategic report. PARISH GIVING SCHEME 17
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PARISH GIVING SCHEME Responsibilities of Trustees for the financial statements As explained more fully in the Slalement of Trustees, Responsibllities (contained within the Report of the Trustees), the Trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to traud or error. In preparing the financi81 slalements, the Trustees are responsible for assessing the charllable company's ability lo continue as a going concern, disclosing. as applicable, mallers related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative bul lo do so. Auditor's responsibilities for the audit of the financial statements Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from malerial misslalemenl, whether due to fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when il exists. Misslalements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to delecl malerial misslalements in respect of irregularities, including fraud. The exlenl to which our procedures are capable of delecling irregularities, including fraud is detailed below.. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities. including fraud and non-compliance with18ws and regulalions, was as follows= The engagement director ensured that the engagement team collectively had the appropriate competence. capabilities and skills to identify or recognise non-compliance with applicable laws and regulations We identified the laws and regulations applicable to the charitable company through discussions with management, and from our knowledge and experience of the charity sector Identified laws and regulations were communicated within the audit team regulady and the team remained alert to instances of non-compliance throughout the audit We focused on specific laws and regulations which we considered may have a direct material effect on the Financial Statements or the activities of the charitable company. These included bul were not limited to the Charities Act 2011, Companies Act 2006, and data protection legislation and regulations We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and reviewing the minules of the meetings of Trustees. We assessed the susceptibility of the charitable company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by.. Making enquiries of management and those charged with governance as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud Considerin9 the internal controls in place lo mitigate risks of fraud and non-compliance wlh laws and regulations PARISH GIVING SCHEME 18
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PARISH GIVING SCHEME To address the risk of fraud through managemenl bias and override of controls, we.. Performed analytical procedures to identify any unusual or unexpected relationships Reviewed journal entries to identify unusual transaclions and tested their validity Tested the authorisation of expenditure, ensuring expenditure was approved In line with the charitable company's financial procedures Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias Investigated the rationale behind significant or unusual transactions In response to the risk of irregularities and non-¢ompliance with laws and regulations, we designed procedures which included, but were not limited to.. Agreeing financial statement disclosures to underlying supporting documentation Reviewing the minutes of meetings of Trustees Enquiring of management and those charged with governance as lo actual and polential liligalion and claims There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely il is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the Trustees and other management and the inspection of regulatory and legal correspondence, if any. Material misslalemenls that arise due lo fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further descriplion of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's websile al.. www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the charitable companvs members, as a body. in accordance wlth Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitable company's members those matters we are required lo state to them in an auditor's report and for no other purpose. To the fullest extent permilled by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have fomed. Gumayel iah (Senior Stalulory Auditor) For and on behalf of Buzzacott LLP, Statutory Auditor 130 Wood Street London EC2V 6DL Dale: 7 July 2023 PARISH GIVING SCHEME 19
Statement of financial activities (incorporating an income and expenditure account) For the year ending 31 December 2022 Restricted funds Unreslricled funds 2022 total 2021 total Note £'ooo £'ooo £'ooo £00 Income from: Charitable activities 75,082 800 75.882 66,781 Total 75,082 800 75.882 66,781 Expenditur• on: Charitable activities 75.101 816 75,917 66,678 Total 75.101 816 75,917 66,618 Net {expendlture)Ilncome {191 (161 (351 16J Reconciliation of funds Funds at the start of the year 19 746 765 602 Funds at the end of the year 730 730 765 All of the above results are derived from continuing aclivilies. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 11 to the financial slatements. Full comparatives for the year to 31st December 2021, are shown in note 13. The notes on pages 23 to 35 fomi part of the financial slalements. PARISH GIVING SCHEME 20
Balance sheet As at 31 December 2022 Company number 08824540 Note 2022 £'ooo 2021 Flxed a$$8ts Intangible fixed assels 324 334 Current assets Stock 26 Debtors 55 130 Cash at bank and in hand 485 386 542 542 Cr8dltors.' amount due wlthln one year 11361 (fllj Net currant assats 406 431 Net assats 730 765 RoseoS Restricted funds 19 Unreslrided funds Oesignaled funds Intangible fixed assets 324 334 IT fund 200 200 General funds 206 212 Total funds 730 765 Approved by the Tr ste s on . zil.9.6.1..2023 and signed on their behalf by: Theo Platt Chair ol the Board of Trustees The notes on pages 23 to 35 form part of the financial statements. PARISH GIVING SCHEME 21
Statement of Cashflows Year ended 31 December 2022 2022 £'ooo 2021 £'ooo Net cash Inflow from operatlng actlvltles {sèe below) 234 248 Cash flows from invèstlng actlvltle$ Purchase of Intangible lixed assets 11351 (148J Change in cash & cash 8quivalants during yaar 99 100 Cash & cash equivalents at 1 January 386 286 Cash & cash equivalents at 31 December 485 386 Reconclliation of net movement in funds to net cash {oxp&nditurellincome from oparating activitias 1351 t63 Adjustments for- Amortisalion of intangible fixed assets 145 Decrease in stock 24 Decreaselllncreasel in debtors 75 (6) IncreasellDecreasel in creditors 25 120) Net Cash Inflow from operating a¢tivitie$ 234 248 Analysis of cash and cash equivalents Cash in bank & Sn hand 485 386 Total cash and cash equivalents 485 386 No separate reconciliation of net debt has been prepared as there is no difference between the net cash (debt) of the charity and the above cash and cash equivalents. The notes on pages 23 to 35 form part of the financial ststements. PARISH GIVING SCHEME 22
NOTES TO THE FINANCIAL STATEMENTS for the vear endina 31 December 2022 1. Accounling policies The principal accounting policies adopted. judgements and key sources of estimation uncertainly in Ihe preparallon of the financial st8temenls are as follows.. al The accounts have been prepared in accordance with Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)12nd edition, effective l January 20191 {Charilies SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Act 2006. b) PGS meets the definition of a public benefit entity under FRS 102. PGS is a company registered in England and Wales, company number 08824540. Ils registered address is 76 Kingsholm Road, Gloucester, GL1 3BD. Assets and liabilities are inilially recognised al historical cost or transaction value unless othetwise slated in the relevanl accounting policy note. c) The Trustees consSder there are no material LInrtainlIeS about the charity's ability to conlinue as a going concern. The review of our financial position, reseNes levels and future plans gives Trustees confidence the ch8rity remains a going concern for a period in excess of 12 months from the date of approval of these accounts. d) All income is recognised once the charity has enlillement lo income, it is probable that income will be received and the amount of income recelvable can be measured reliably. el Voluntary income received as contributions from member dloceses represent the init181 amounts received from members when they join The Scheme. These amounts are included in full in the slalemenl of financial activities when receivable. The main income for The Scheme is glfls received from parishes, with the Gift Aid being claimed on such gifts as appropriate. fj Revenue grants are credited to the statement of financial aclivilies when received or receivable, whichever is earlier. gl Where unconditional entillement lo grants receivable is dependent upon fuifilment of conditions withln the charity's control, the income is recognised when there is sufficient evidence that conditions will be met. h) Intangible fixed assets are those related to the development of the PGS website and the digital platform which in the opinion of the Trustees satisfy the criteria to be classified as intangible assets that provide future economic benefits to PGS. The intangible fixed assets are slated al cost less amortisalion. Amortisation is provided al rates calculated to write off Ihe cost less estimate residual value over the expected useful economic life of four years. i) Stock is held at the lower of cost and nel realisable value. l) Debtors are recognised al their selllement amount, less any provision for non-recoverability. Prepayments are valued 81 the amount prepaid. They have been discounted lo the present value of the futur8 cash receipt where such discounting is material. PARISH GIVING SCHEME 23
NOTES TO THE FINANCIAL STATEMENTS for the year ending 31 December 2022 1.0 Accounting policies (continued) k) Creditors and provisions are recognised when there Is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be eslSmated reliably. Creditors and provisions are recognised at the amount the charity anticipates il will pay to settle the debt. They have been discounted lo the present value of the future cash payment where such discounting is material. 11 Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. ml Reslricted funds are to be used for specific purposes as laid down by the giver. Expenditure which meets these criteria is charged lo the fund together with a fair allocation of management and support costs. n) Unrestricted funds are gifts and other income receivable or generated for Ihe objects of the charity. ol Designated funds are those eamiarked by the Board of Trustees for partScular purposes. Whilst such funds are kept separate for administrative purposes, they do not constitute legally separate funds. p) Expenditure is recognised in the period in which Ihey are Incurred. Expenditure includes attributable VAT which cannot be recovered. The key components of expenditure are staff costs, IT costs and website development costs. Expenditure on charitable activities also includes indirect support costs (including governance coslsl. q) Governance costs include all costs of compliance with constitutional and statutory requirements, including legal and audit fees and the costs of meetings. r} The charity operates a defined contribution pension scheme for its staff. The assets of The Scheme are held separately from those of the charity in an independenlly administered fund. The pension cost charge represents contributions payable under The Scheme by the charity to the fund. The charity has no liability under The Scheme other than for the payment of those conlributions. s) Rental p8yments under operating leases are charged lo the Statement of Financial Activities on a straight- line basis over the temi of the lease. PARISH GIVING SCHEME 24
NOTES TO THE FINANCIAL STATEMENTS for the vear endino 31 December 2022 2. Income from charitable activities Restricted Unreslri¢le funds d funds OOO'S OOO'S 2022 Total 2021 Total OOO'S Ongolng monthly service contributions from member Dioceses 753 753 589 Restricted gifts 60.883 60,883 53,388 Gift reclaimed (reslricledl 14,140 14,140 12,444 Restricted One Off gifts 38 Restricted One Off Gift Aid reclaimed Initial contributions from member 40 40 40 Dioceses 14 14 310 Grant from Ar¢hbishops' Council io 75,082 800 75,882 66,781 All in¢ome from ongoing service contributions from member dioceses, initial contributions from member dioceses and other income in 2022 and 2021 was unreslricted. The grant from Archbishops, Council in 2022 relales to PGS'S digital project and is a contribution towards the development phase. All other income was credited to reslricled funds in both 2022 and 2021. PAR1SH GIVING SCHEME 25
NOTES TO THE FINANCIAL STATEMENTS for the year ending 31 December 2022 3. Expenditure on charitable activities Restricted Unrestricted funds funds OOO'S OOO'S 2022 Total 2021 Total OOO'S OOO'S Grants back to parishes Ireslricledl 60,883 60,883 53,388 Gift Aid forwarded lo parishes Ireslricled) 14,140 14.140 12.444 One Off grants back lo Parishes Irestricledl 38 One Off Gift Aid forwarded to p8rishes Ireslricled) Grants back to parishes including Gift Aid (restricted) 75,068 75.068 65,832 Support costs.. Staff costs- note 5 329 329 289 Governance 16 16 12 Wetjsile development costs 100 100 90 Digital project IT costs 33 33 160 Amortisalion charge 145 145 111 Other support costs 226 226 124 75,101 816 75.917 66.618 All expenditure on slaff costs, governance costs and other costs in 2022 and 2021 was unrestricted. PARISH GIVING SCHEME 26
NOTES TO THE FINANCIAL STATEMENTS for the vear endina 31 Decèmber 2022 4. Net movement in funds 2022 Total 2021 Total This is stsled after charging.. £'ooo rooo Auditors. remuneralion- audit 10 io Amortisation 145 111 Operating leases- land and buildings Inole 121 22 22 5. Staff numbers and costs The aggregate payroll costs for staff was as follows.. 2022 £'ooo 2021 £'ooo Wages and salaries 263 231 Social security costs 27 21 Employers pension ¢onlribulions 39 37 329 289 The average number of persons employed by the charity (excluding Trustees who are all non-execulivel are as follows.. No. of émployèès 2022 No. of employees 2021 Charitable activities On an annualised basis, one employee eamed more than £60,000 during the year.12021: one). PARISH GIVING SCHEME 27
NOTES TO THE FINANCIAL STATEMENTS for the year ending 31 December 2022 Remuneration of key management personnel Key management personnel are deemed to be those having authority and responsibility, delegated to them by the directors, for planning, directing and controlling the activities of PGS. During 2022 the key management personnel comprised the Chief Executive Officer and the Head of Operations. The lolal remuneration for these two employees Itogelher with employer pension and national Insurance contributions} amounted to £115k (2021: £101 k). Transactions with Trustees Four Trustees {2021.' two) received reimbursement for oul-of-pocket expenses during the period amounting to £786 12021.. £501). Five key management personnel members (2021.. five) made gifts of £2,265 (2021.. £2,061) (excluding Gift Aid) to PGS during the year, to financially support Ihe Church of England in their locality. 6. Taxation The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. 7. Intangible fixed assets Digital project ar website £'OOOs Total £'OOOs Cost or valuation.. At 1 January 2022 445 445 Additions 135 135 At 31 December2022 580 580 Amortisation.. Al 1 January 2022 111 111 Charge for year 145 145 Al 31 Dember 2022 256 256 Net book value.. Al 1 January 2022 334 334 Al 31 De¢ember 2022 324 324 PARISH GIVING SCHEME 28
NOTES TO THE FINANCIAL STATEMENTS fnr thp vp.ar èndina .21 Dp.r.p.mhpr ?.0?? 8. Debtors: amounts falling due within one year 2022 £'ooo 2021 £'ooo Trade debtors 21 Prepayments and other debtors 53 34 Accrued income- grant instslmenl due from Archbishops, Council 75 55 130 9. Creditors: amounts falling due within one year 2022 £'ooo 2021 eooo Trade creditors 29 26 Other taxes and soaal security Accruals ar)d other creditors 99 79 136 111 10. Analysis of net assets between funds Restricted funds 2022 £'ooo Designaled funds 2022 £'ooo General funds 2022 £'ooo Total funds 2022 £'ooo In18ngible fixed assets 324 324 Nel current assets 200 206 406 Net assets at 31 December 2022 524 206 730 Comparative analysis for 2021 Restricted funds 2021 £'ooo Designated funds 2021 £'ooo General funds 2021 £'ooo Totol funds 2021 £'ooo Intangible fixed assets 334 334 Nel current assets 19 200 212 431 N81 assets al 31 D8cemb8r 2021 19 534 212 765 PARISH GIVING SCHEME 29
NOTES TO THE FINANCIAL STATEMENTS for the year ending 31 December 2022 11. Movement In funds Balance at 1st January 2022 Income Expenditure Transfers Balance at 31 st December 2022 £'ooo £'ooo £'ooo £'ooo £'ooo Unrestricted funds General lund Designated funds IT fund Intangible fixed assets fund 212 800 (6711 11351 206 200 334 200 324 {1451 135 746 800 {816} 730 Roslrl¢tgd funds Parish gifts Digital project grant 75,068 14 75.082 175,0681 133) 175,101) Total 765 75,882 175,9171 730 Comparatlve movements for 2021 Bg18nce at Isl January 2021 Income ExndItUre Transfers Balanc8 at 31st December 2021 £'ooo £'ooo £000 £'ooo £'ooo Un$trACted funds Gener81 fund Designated funds IT fund Intangible fixed assets fund 105 639 (626) 94 212 200 297 200 334 37 602 639 (626) 131 746 Restricted funds Parish gifts Digital project grant 65,832 310 (65,832) 160 131 (731) 66, 142 (65,992) Total 602 66,781 (66,618) T65 PARISH GIVING SCHEME 30
NOTES TO THE FINANCIAL STATEMENTS for the vÉAr Èndino 31 DÈcÈmbèr 2022 11. Movement in funds (continued) Designated funds The IT fund Is available to support the charlty's future Investment in IT outside of core operational costs. The intangible fixed asset fund reflects the carrying value of the website development and digital project costs which have been capilalised on the balance sheet and which the charity is expected to benefit from over the next few years. The annual amortisalion charge is allocated against Ihis fund accordingly. The balance is kept separate lo the charity's general unrestricted funds in recognition of the fact that the amounts capilalised are essential to the day-lo-day operation of the charity and cannot be realised by the charity in order to meet day lo day working capital requirements. Restricled funds These comprise:. Parish gifts received through a regular giving scheme which collecls gifts through direct debll and makes the gift (including Gift Aid) available only to be spent in a specified churchlparish. A grant from Archbishops, Council towards the digitsl project. The transfer from the restricted fund to the charity's unrestricted fund is in recognition of the facl that the grant has been ulilised towards the cost of the digital project in line with the giver's wishes land therefore the restriction discharged). but the asset capilalised is now available for the charity s general unrestricted application. 12. Financial commitments: operating leases Total commilments under non-cancellable operating leases are as follows'.- 2022 £'ooo 2021 £'ooo Land and buildirigs where the lease expires.. Within one year of the balance sheet date 22 22 In the second lo fifth years inclusive of the balan sheet dale 66 88 88 PARISH GIVI NG SCHEME 31
NOTES TO THE FINANCIAL STATEMENTS for the year ending 31 December 2022 13. Comparative statement of financial activities Reslricled funds £'ooo Unreslricled funds £'ooo 2021 Total Income from: Charitable activities 66,142 639 66,781 Total 66,142 639 6,781 Expendlture on.. Charitable activities 65,992 626 66,618 Total 65,992 626 66,618 Net incom 150 13 163 Transfer between funds 11311 131 Net movement In funds 19 144 163 Reconciliation of funds Funds at the stsrt of the yoar 602 602 Funds at the end of the year 19 746 765 14. Related party transactions Details of transactions with the charity's Trustees are provided at note 5. There were no other related party transactions during the period of report {2021 none}. 15. Contingent liability In expanding the charity's seNice offer lo cover 'one-off giving,. the truslees have commissSoned a review of the charity's VAT arrangements, lo ensure compliance with VAT legislation. In addition to 'one-off giving., the review covers all aspects of the charitvs activities including Ihose areas where guidance was previously oblairied several years ago. Whilst the review is ongoing at the lime of approval of these accounts, the Trustees have been advised that there is one particular area where further guidance and dialogue with HMRC Is required in order for the trustees lo satisfy themselves that no further VAT liability is due. The Trustees are of the opinion that the maller is not clear-cul based on the charlly's unlque circumstances, and that the probability of any liability arising is low, bul will in due course liaise with HMRC in respect of this matter. The aforementioned also makes it impractical lo estimate the value of any such potential liability. As such, no provision has been made in respect of this matter within these financlal statements. PARISH GIVING SCHEME 32
REGISTER OF MEMBERS at 31st December2022 REGISTER OF MEMBERS 111 Gloucester Diocesan Board of Finance incorporated and registered in England and Wales with company number 162165 registered charity (number 2512341 whose registered office is al College Green, Gloucester, GL1 2LY (Gloucester DBFI 121 Exeter Diocesan Board of Finance Limited incorporated and registered in England and Wales wth company number 186001 registered charity (number 249798) whose registered office is al The Old Deanery, The Cloisters, Exeter, Devon, EX1 1 HS (Exeter DBFI 131 Winchester Diocesan Board of Finance incorporated and registered in England and Wales with company number 00142351 registered charity (number 2492761 whose registered office is at Old Alresford Place, Alresford, Hampshire, S024 9DH {Winchester DBFI 141 Chichester Diocesan Fund & Board of Finance incorporated and registered in England and Wales with company number 00133558 and registered charity (number 2431341 whose registered office is 211 New Church Road, Hove, East Sussex, BN3 4ED {Chlchester DBF) 151 Guildford Diocesan Board of Finance incorporated and registered in England and Wales with company number 00225289 and registered charity {number 2482451 whose registered office is at auary Street, Guildford , GU13XG (Guildford DBF) 161 Liverpool Diocesan Board of Finance incorporated and registered in England and Wales with company number 00018301 and registered charity {number 2497401 whose registered office is at St James House. St James Road, Liverpool, Merseyside, L17BY {Liverpool DBF) 171 Chelmsford Diocesan Board of Finance incorporated and registered in England and Wales with company number 00137029 and registered charity (number 2495051 whose registered office is al 53 New Street, Chelmsford, Essex, CM1 1AT. (Chelmsford DBF) 181 Portsmouth Dio¢es8n B08rd of Finance incorporated and registered in England and Wales with company number 226466 and registered charity (number 249256) whose registered oflice is at Peninsular House, 1 st Floor, Wharf Road, Portsmouth, Hants, P02 8HB. (Portsmouth DBF) 191 Truro Diocesan Board of Finance incorporated and registered in England and Wales with company number 00049825 and registered charity {number 2483301 whose registered office is at Woodlands Court, Truro Buslness Park, Threemilestone, Truro, Cornwall TR4 9NH. (Truro DBFI 1101 St Albans Diocesan B08rd of Finance incorporated and regislered in England and Wales with company number 00145227and registered charity (number 2488871 whose registered office is al Holywell Lodge, 41 Holywell Hill, St Albans AL1 1 HE. (Sl Albans DBF) 1111 London Diocesan Fund incorporated and registered in England and Wales with company number 150856 and registered charity (number 2410831 whose registered office is at London Diocesan House, 36 Causton Street, London SW1P 4AU. (London DBFI 1121 Leicester Diocesan Board of Finance incorporated and registered in England and Wales with company number 00227087 and registered charity {number 2491001 whose registered office is at St Martins House, 7 Peacock Lane, Leicester, LE1 5PZ. {Leicesler DBF) 1131 Birmingham Diocesan Board of Finance incorporated and registered in England and Wales with company number 00440966 and registered charity (number 2494031 whose registered office Is at 1 Colmore Row, Birmingham. Wesl Midlands. B3 28J. {Birmingham DBF) PARISH GIVING SCHEME 33
REGISTER OF MEMBERS at 31st December2022 REGISTER OF MEMBERS 1141 Newcastle Diocesan Board of Finance incorporaled and reglslered in England and Wales with company number 00650977 and registered charity {number 2472331 whose registered office is Sl Johns Terrace, North Shields, NE29 6HS. (Newcastle DBFI 1151 Salisbury Diocesan Board of Finance incorporated and registered in England and Wales with company number 00017442 and registered charity {number 2408331 whose registered office is al 99 Crane Slreel, Salisbury SP12QB. IS81isbury DBFI (161 Ely Diocesan Board of Finance incorporated and registered in England and Wales with company number 00142183 and registered charity (number 2454561 whose registered office is at Bishop Woodford House, Barton Road, Ely Cambridgeshire, CB7 4DX. (Ely DBF) (171 Sl Edmundsbury and Ipswich Diocesan Board of Finan incorporated and registered in England and Wales with company number 00143034 and registered charity {number 248919) whose registered office is at St Nicholas, Centre, 4 Culler Slreet, Ipswich, Suffolk, IP1 1 UQ. {St Edmundsbury and Ipswich DBF) (181 Bristol Diocesan Board of Finance incorporated and registered in England and Wales with company number 00156243 and reglstered charity (number 2485021 whose registered office is al First Floor Hillside House 1500 Parkway North, Newbrick Road. Stoke Gifford, Brislol, BS34 8YU. (Bristol DBF). (191 Derby Diocesan Board of Finance incorporated and registered in England and Wales with company number 00229700 and registered charity (number 2497671 whose registered office is at Derby Church House, Full Street, Derby, DE13DR. ID8rby DBF) (201 Oxford Diocesan Board of Finance incorporated and registered in England and Wales with company number a0142978 and registered charity (number 2479541 whose registered Offi is at Oxford Langford Locks, Kidlington, Oxford, Oxon, OX5 1 GF. (Oxford DBF) (211 Sheffield Diocesan Board of Finance incorporated and registered in England and Wales wlh company number 00196087 and registered charity {number 245861) whose registered office is at 95-99 Effingham Slreel, Rotherham, S65 18L. (Sheffield DBF) (221 Durham Diocesan Board of Finance incorporated and registered in England and Wales with company number 00192018 and registered charity {number 2482871 whose registered office is at Cuthbert House, Slonebridge, Durham DH13RY. (Durham DBFI 1231 Hereford Diocesan Board of Finance incorporated and registered in England and Wales with company number 00144467 and reglstered charity (number 2496851 whose registered office is at The Palace, Palace Yard, Hereford HR4 gBL. (Hereford DBFI (241 Lincoln Diocesan Board of Finance incorporated and registered in England and Wales wllh company number 00097256 and registered charity {number 249355) whose registered office is at Edward King House, The Old Palace, Lincoln LN2 1 PU. {Lin¢oln DBF) (251 Worcester Diocesan Board of Finance incorporated and registered in England and Wales wlh company number 00271752 and registered charity {number 247778) whose registered office is al The Old Palace, Deansway, Worcester WR1 2JE. (Worcester DBFI (261 Peterborough Di0san Board of Finance incorporated and registered in England and Wales with company number 186179 and registered charity (number 2505691 whose registered office is al The Palace, Peterborough PE1 1YB. (Peterborough DBFI PARISH GIVING SCHEME
REGISTER OF MEMBERS at 31st December 2022 REGISTER OF MEMBERS 1271 Coventry Diocesan Board of Finance incorporated and reglstered in England and Wales wilh company number 00319482 and registered charity (number 2478281 whose registered offlce is at Diocesan Offices, 1 Hill Top, Coventry, CV15AB. {Coventry DBFI {28) Leeds Diocesan Board of Finance incorporated and registered in England and Wales with company number 08823593 and registered charity (number 11558761 whose registered office Is al 17119 York Place, Leeds. England. LS12EX. {Leeds DBF) 1291 York Diocesan Board of Finance incorporated and registered in England and Wales with company number 00225234 and registered charity (number 244976) whose registered office is at Amy Johnson Way, York Y030 4XT. (York DBF) 130) Soulhwark Diocesan Board of Finance incorporated and registered in England and Wales with company number 00236594 and registered charity {number 249678} whose registered office is at Trinity House, 4 Chapel Court, Borough High Street, London SE11HW. {Southw8rk DBFI 1311 Blackburn Diocesan Board of Finance incorporated and registered in England and Wales with company number 00225457 and registered charity {number 247647) whose registered office is al Clayton House, Walker Office Park, Blackburn, England, BB12QE. (Blackburn DBF) 1321 Canterbury Diocesan Board of Finance incorporated and registered in England and Wales with company number 00145650 and registered charity {number 249972) whose registered office is at Lady Woottons Green, Canlerbury, Kent, CT1 1NQ. Icanlerbury DBFI 133) Rochester Diocesan Society and Board of Flnance incorporated and registered in England and Wales with company number 140656 and registered charity (number 249339) whose registered office is Diocesan Office, Sl Nicholas Church, Boley Hill, Rochester, Kent, ME11SL. (Rochester DBFI {34) Nonmich Diocesan Board of Finallce Ltd (The} incorporated and registered in England and Wales with company number 88175 and registered charity (number 249318) whose registered office is Diocesan House, 109 Dereham Road, Easton, Norwich. Norfolk, NR9 SES. (Norwich DBFI PARISH GIVING SCHEME 35