F.RANT ST AL8ANS Front ond HOL Y TRINITY Eridge Finoncial Statements 2023 ## **PAROCHIAL CHURCH COUNCIL OF FRANT WITH ERIDGE** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023** |Notes
**Incoming resources**
Vol�ntar� income
**2a**
Acti�ities for generating f�nds
**2b**
In�estment income
**2c**
Income from Ch�rch Acti�ities
**2d**
Other incoming reso�rces
**2e**
**Total incoming resources**
**Resources expended**
Grants
**3a**
Cost of acti�ities relating to the �ork of the ch�rch
**3b**
Management and administration
**3c**
Costs of generating f�nds
**3d**
**Total resources expended**
**Net incoming /(outgoing) resources**
Gains and losses on re�al�ation of in�estments
**Net movement in funds**
Total f�nds bro�ght for�ard at 1 Jan�ar� 2022
Adj�stments To F�nds
**10**
**Total funds carried forward at 31 Decmeber 2023**|Unrestricted
Restricted
Endo�ment
**TOTAL**
TOTAL
F�nds
F�nds
F�nds
**FUNDS**
FUNDS
2023
2023
2023
**2023**
2022
�
�
�
**�**
�
79,482
20,037
0
**99,519**
127,170
28,427
2,666
0
**31,093**
19,150
9,716
0
0
**9,716**
2,829
18,021
0
0
**18,021**
13,399
456
0
0
**456**
31,497
136,101
22,703
0
**158,805**
194,045
670
0
0
**670**
1,178
123,729
31,621
0
**155,350**
180,423
6,826
0
0
**6,826**
5,235
5,517
2,343
0
**7,860**
7,572
136,742
33,964
0
**170,706**
194,408
0
0
0
**0**
0
**(641)**
**(11,261)**
**0**
**(11,901)**
**(363)**
70,049
55,000
1,336
**126,383**
126,744
(13,273)
13,273
**0**
0
**56,138**
**57,011**
**1,336**
**114,483**
**126,383**| |---|---| 2 PAROCHIAL CHURCH COLhltClL OF FRANT IMTH ERIDGE BAiANCE SHEET FOR THE YEAR ENOED 31 DECEMBER 2023 FrnntlEridgo 2023 TotAI 2023 FranUEridge 2022 Total 2017 NDles FIX•￿ 1s$ets 29.635 1338 29,635 1,J36 30.971 4,90 5b Toial fixod 4$5Qts 30 4J2 Current a$SOts Deoioss Inior ChL'rch accounl Shori lerni thpos..1s 13,500 T3 51x1 39 367 44 395 J9.367 44,395 3if.144 .628 28 144 44.628 12501 1250 I currtrnt llxsets 83.512 J,IL'r one year NET ASSETS 1144U 126,383 126i HURCH FUNDS 56.138 57.011 1.326 114,4 70 049 L.Itlpd lijnilg F.nVo1￿1￿ntr Iiinds l J36 144 Approvvd by Ihp Piior.ttial Chufch CthiJnc11 cn 2 ? . 4 Zwand $19ntd Ils tbeliall Thè 3t¢4nipanying nole5 form parl ol these il114incial 51aloniofTrls ## **PAROCHIAL CHURCH COUNCIL OF FRANT WITH ERIDGE** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** ## **1. Accounting policies** ## **(a) Accounting convention** The financial statements ha�e been prepared in accordance �ith the Ch�rch Acco�nting Reg�lations 1997 as amended b� the Ch�rch Acco�nting (Amendment) Reg�lations 2001 together �ith applicable acco�nting standards and best practice as laid do�n in the Statement of Recommended Practice "Acco�nting and Reporting b� Charities" (SORP2000) iss�ed in October 2000. The financial statements ha�e been prepared �nder the historical cost con�ention as modified b� the incl�sion of in�estments at market �al�e and the re�al�ation of fi�ed assets. ## **(b) Funds accounting** F�nds held b� the PCC are: _Gene�al f�nd_ - �nrestricted monies to be �sed b� the tr�stees in accordance �ith charitable objects. _De�igna�ed f�nd�_ - monies set aside b� the tr�stees o�t of �nrestricted f�nds for specific f�t�re p�rposes or projects. _Re���ic�ed f�nd�_ - monies s�bject to specific conditions imposed b� the donor or f�ndraising e�ents held for partic�lar p�rposes. _End��men� f�nd�_ - monies �hich m�st be held indefinitel� as capital. The income thereon ma� be �sed in accordance �ith the donor's �ishes, if stip�lated, or for general p�rposes. The acco�nts incl�de all transactions, assets and liabilities for �hich the PCC is liable in la�. The� do not incl�de the acco�nts of ch�rch gro�ps that o�e their affiliation to another bod�, nor those �hich are informal gatherings of ch�rch members. ## **Incoming resources** ## _**Voluntar� Income**_ _C�llec�i�n�_ are recognised �hen recei�ed _Planned gi�ing_ recei�able is recognised onl� �hen recei�ed. _Inc�me �a�_ reco�erable on Gift Aid donations is recognised �hen the income is recognised. _G�an�� and legacie�_ are recognised as soon as the PCC is notified of its legal entitlement, the amo�nt is q�antifiable, and the �ltimate date of receipt is reasonabl� certain. _F�nd�_ raised b� fetes and other e�ents are acco�nted for gross _Sale�_ of books and maga�ines are acco�nted for gross ## _**Other income**_ Rental income from the letting of ch�rch premises is recognised �hen the rent is d�e ## _**Income from investments**_ Interest entitlements are acco�nted for as the� accr�e. 4 **PAROCHIAL CHURCH COUNCIL OF FRANT WITH ERIDGE** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2023** ## _**Gains and losses on investments**_ Realised gains are recognised �hen the in�estments are sold Unrealised gains and losses are acco�nted for on re�al�ation on 31 December. ## **(c)** _**Resources used**_ Reso�rces e�pended are acco�nted for on an accr�als basis. ## _**Grants**_ Grants and donations are acco�nted for �hen paid o�er, or �hen a�arded �here the a�ard creates a binding obligation on the PCC ## _**Activities relating to the work of the church**_ The diocesan parish contrib�tion is acco�nted for �hen paid. An� parish contrib�tion �npaid at 31 December is pro�ided for in these acco�nts as an operational (tho�gh not a legal) liabilit� and is sho�n as a creditor in the balance sheet. ## **(d)** _**Tangible fixed assets**_ Consecrated and beneficed propert� of an� kind is e�cl�ded from the acco�nts b� s.96(2) of the Charities Act 1993. Mo�able ch�rch f�rnishing held b� the Vicar and Ch�rch�ardens on special tr�st for the PCC and �hich req�ire a fac�lt� for disposal, are acco�nted as inalienable propert� �nless consecrated. The� are listed in the ch�rch's in�entor� �hich can be inspected. For inalienable propert� acq�ired prior to (date) there is ins�fficient cost information a�ailable and therefore s�ch assets are not �al�ed in the acco�nts. Items acq�ired since 1 Jan�ar� 2001 ha�e been capitalised in the acco�nts and depreciated o�er their �sef�l economic life. Booked �al�e has been �rittend do�n to �ero All e�pendit�re on consecrated or beneficed b�ildings and indi�id�al items costing �nder �1000 are �ritten off in the �ear the� �ere inc�rred. ## _**Depreciation**_ Depreciation is calc�lated to �rite do�n the cost of tangible fi�ed assets, e�cl�ding freehold properties, o�er their e�pected �sef�l li�es. The rates generall� applicable are: Fi�t�res, fittings and eq�ipment 33% straight line Propert�, plant and eq�ipment 10% straight line No depreciation is pro�ided on freehold propert� as it is the ch�rch's polic� to maintain these assets in a contin�al state of so�nd repair. The �sef�l economic life of these assets is so long and resid�al �al�es so high that an� depreciation �o�ld not be material. These assets �ill be s�bject to ann�al impairment re�ie�s. Pro�ision �ill be made if there has been an� permanent dimin�tion in �al�e. ## _**Investments**_ In�estments are stated at market �al�e at the balance sheet date. ## **(e) Current Assets** Short-term deposits incl�de cash held on deposit either �ith the CBF Ch�rch of England F�nds, or at the bank. ## **(f)** _**Adjustment to fuds**_ _The 2023 acc��n�� incl�de� a adj���men� �f �13.3k f��m �n�e���ic�ed �� �e���ic�ed N��e 9 ����ide� a f�ll b�eakd��n._ 5 ## **PAROCHIAL CHURCH COUNCIL OF FRANT WITH ERIDGE** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2023** ## **2 Incoming resources** |**2a** Vol�ntar� income
Planned gi�ing
Collections at all ser�ices
S�ndr� donations and appeals
Legacies
Income ta� reco�erable
**2b**Acti�ities for generating f�nds
Fetes and other f�nd raising e�ents
Bookstall
**2c** In�estment income
Di�idends and interest
Income from propert�
**2d** Income from Ch�rch Acti�ities
to f�rther the interests of the PCC
Stables income
Fees from �eddings etc.
Parish maga�ine
**2e** Other incoming reso�rces
Grants
Ins�rance
VAT Reco�ered
**Total incoming resources**|Unrestricted
Restricted
Frant
**TOTAL**
TOTAL
F�nds
F�nds
Endo�ment
**FUNDS**
FUNDS
2023
2023
F�nds
**2023**
2022
�
�
�
**�**
�
54,271
1,945
0
**56,216**
55,383
11,072
0
0
**11,072**
9,359
10,109
15,828
0
**25,937**
56,834
0
0
0
**0**
1,000
4,030
2,264
0
**6,294**
4,594
79,482
20,037
0
**99,519**
127,170
28,427
2,666
0
**31,093**
19,150
0
0
0
**0**
0
28,427
2,666
0
**31,093**
19,150
1,316
0
0
**1,316**
729
8,400
0
0
**8,400**
2,100
9,716
0
0
**9,716**
2,829
1,734
0
0
**1,734**
1,998
12,417
0
0
**12,417**
7,776
3,870
0
0
**3,870**
3,625
18,021
0
0
**18,021**
13,399
456
0
0
**456**
10,497
0
0
0
**0**
15,000
0
0
**0**
6,000
456
0
0
**456**
31,497
**136,101**
**22,703**
**0**
**158,804**
194,045| |---|---| 6 ## **PAROCHIAL CHURCH COUNCIL OF FRANT WITH ERIDGE** ## **NOTES TO THE FINANCIAL STATEMENTS (continued)** **FO** FOR THE YEAR ENDED 31 DECEMBER 2023 ## **3 Resources expended** |**3a** Grants
Missionar� and charitable gi�ing
**3b** Acti�ities directl� relating to the �ork
of the Ch�rch
Ministr� costs:
diocesan parish contrib�tion
clerg� e�penses
�o�th �orker
other s�pport costs
Ch�rch r�nning e�penses
Ch�rch maintenance
Upkeep of ser�ice
Parish maga�ine
Stables r�nning costs/project
Upkeep of ch�rch�ard
Mission and O�treach
Depreciation
Organist & Loc�ms
**3c** Ch�rch management and administration
Parish office costs
**3d** Costs of generating f�nds
Fetes and other f�nd raising e�ents
**Total resources expended**|Unrestricted
Restricted
**TOTAL**
TOTAL
F�nds
F�nds
**FUNDS**
FUNDS
2023
2023
**2023**
2022
�
�
**�**
�
670
0
**670**
1,178
670
0
**670**
1,178
73,775
0
**73,775**
70,600
5,127
0
**5,127**
12,360
0
27,900
**27,900**
16,937
0
0
**0**
1,043
16,807
0
**16,807**
19,042
5,235
726
**5,961**
40,072
2,415
0
**2,415**
1,310
2,654
0
**2,654**
2,568
10,702
0
**10,702**
6,845
124
2,742
**2,866**
2,566
300
253
**553**
542
3,427
0
**3,427**
3,434
3,163
0
**3,163**
3,104
123,729
31,621
**155,350**
180,423
6,826
0
**6,826**
5,235
0
0
**0**
0
5,517
2,343
**7,860**
7,572
136,741
33,964
**170,705**
194,408| |---|---| 7 ## **PAROCHIAL CHURCH COUNCIL OF FRANT WITH ERIDGE** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2023** ## **4 Staff costs** ## Wages and salaries |Total|**Total**| |---|---| |2022|**2023**| |�|**�**| |25,549|**37,570**| D�ring this �ear the PCC paid for administration as �ell as pa�ing a �o�th �orker and pa�ing costs to organists. Staff cost do not incl�de the Rectors salar�, �hich is paid directl� b� the diocese of Chichester. ## **5 Fixed Assets** **5a** Tangible fi�ed assets |**Cost or valuation**
At 1 Jan�ar� 2022
Additions
Disposals
Re�al�ation
At 31 December 2023
**Depreciation**
Pro�ided in the �ear
Disposals
At 31 December 2023
**Net book amounts**
**At 31 December 2023**|**Fixtures,**
**Buildings**
**Fittings and**
**Total**
**equipment**
�
�
�
13,869
15,226
29,096
3,966
-
3,966
**17,835**
**15,226**
**33,062**
3,254
173
3,427
**3,254**
**173**
**3,427**
**14,581**
**15,053**
**29,635**| |---|---| **5b** In�estments |Clegg F�nd market �al�e 1 Jan�ar� 2022
Disposals at carr�ing �al�e
Net gains and re�al�ation
**Clegg Fund market value 31 December 2023**|**Investments**
**Total**
**�**
**1,336**
**0**
**0**
**1,336**| |---|---| ## **PAROCHIAL CHURCH COUNCIL OF FRANT WITH ERIDGE** **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2023** ## **6 Analysis of Net assets by fund** |Fi�ed assets for ch�rch �se
In�estment fi�ed assets
C�rrent assets
C�rrent liabilities|Frant/Eridge Frant/Eridge Frant/Eridge
**TOTAL**
Unrestricted
Restricted
Endo�ment
**FUNDS**
F�nds
F�nds
F�nds
**2023**
�
�
�
**�**
29,635
0
0
**29,635**
0
0
1,336
**1,336**
26,751
57,011
0
**83,762**
(250)
0
0
**(250)**
**0**
56,138
57,011
1,336
**114,483**| |---|---| ## **7 Debtors** |Income ta� reco�erable
Vat ref�nd
Other Debtors
Prepa�ments|Frant/Eridge
**Total**
2023
**2023**
�
**�**
0
**0**
0
**0**
0
**0**
0
**0**
0
**0**| |---|---| ## **8 Creditors: amounts falling due within one year** |S�ndr� creditors
Accr�als for �tilities and other costs
Charitable gi�ing accr�al
General accr�al|Frant/Eridge
**Total**
2023
**2023**
�
**�**
(250)
**(250)**
0
**0**
0
**0**
0
**0**
250
-
**250**
**-**| |---|---| ## **9 Adjustments To Funds** |Frant General f�nd
Yo�th Worker F�nd
Eridge General f�nd
Stable Profect
General|Unrestricted
Restricted
2023
2023
�
�
14,819
-
15,630
1,546
2,861
-
504
13,273
-
13,273| |---|---| The transfer of � 15,630 to the Yo�th Worker f�nd made �p for the shortfall in this f�nd The General F�nd is �sed for the Fi�ed Assets transfer. When the asset is p�rchased the Tr�st imposed b� the donor has been satisfied. Therefore these restricted f�nds are transferred from restricted to �nrestricted All Stripe Pa�ments are made to the Frant bank acco�nt and need to be alloacted to the appropirate f�nd e'g The Eridge General F�nd as abo�e 9 ## **PAROCHIAL CHURCH COUNCIL OF FRANT WITH ERIDGE** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 10 Statement of funds** |**Unrestricted Fund**
Frant General f�nd
Eridge General f�nd
Frant Designated Maintenance
Eridge Designated Maintenance
Ins�rance settlement
**Restricted Fund**
**Frant**Restricted F�nds
General
Stables Project
Festi�al Ch�rch F�nd
Office F�nd
Br��nor Randal M�sic F�nd
Fabric f�nd
Ch�rch�ard
Yo�th Worker F�nd
Parish Ukrainian F�nd
**Eridge**Restricted F�nds
Fabric f�nd
Friends of Eridge
**Endowment Fund**
Frant Clegg f�nd
**Total funds**|Bal b/f�d
Income
E�pendit�re
Transfers,
**Bal c/fwd**
1 Jan 2022
other gains
**31 Dec 2023**
and losses
�
�
�
�
**�**
53,242
106,140
-104,843
-14,819
**39,720**
1,598
29,961
-31,898
1,546
**1,207**
9,914
0
0
0
**9,914**
5,295
0
0
0
**5,295**
0
0
0
0
**0**
70,049
136,101
-136,741
-13,273
**56,138**
1,935
100
0
873
**2,908**
1,051
1,810
0
-2,861
**0**
1,833
0
0
0
**1,833**
30
206
0
0
**236**
5,251
0
0
0
**5,251**
10,786
3,472
-2,979
-569
**10,710**
2,599
891
-556
250
**3,184**
0
12,271
-27,900
15,630
**0**
1,293
0
-253
**1,039**
**0**
0
**0**
10,912
0
0
0
**10,912**
19,310
3,953
-2,276
-50
**20,937**
55,000
22,703
-33,964
13,273
**57,011**
1,336
0
0
0
**1,336**
1,336
0
0
0
**1,336**
126,383
158,804
-170,705
0
**114,483**| |---|---| 10 ## **Independent Examiners Report to the PCC of Frant with Eridge** This report on the financial statements of the PCC for the year ended 31 December 2023. Which are set out on pages 1-9, is in respect of an examination carried out in accordance with the Church Accounting Regulations 2006 ("the Regulations") and section 43 of the charities act 1993 ("the Act"). ## **Respective Responsibilities of the PCC and the Examiner** As members of the PCC you are responsible for the preparation of the financial statements. You consider that the audit requirement of the Regulations and section 43(2) of the Act do not apply. It is my responsibility to issue this report on those financial statements in accordance with the terms of the Regulations. ## **Basis of this Report** My examination was carried out in accordance with the General directions given by the Charity Commission under section 43(7)(b) of the Act and to be found in the Church Guidance, 2006 edition, issued by the Finance Division of the Archbishop's Council. That examination includes a review of the accounting records kept by the PCC and a comparison of the accounts with these records. It also includes considering any unusual items or disclosures in the financial statements and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. ## **Independent Examiner's Statement** In connection with my examination, no matter has come to my attention: - 1 Which gives me reasonable cause to believe that in any material respect the requirements • To keep accounting records in accordance with section 41 of the Act and - To prepare financial statements, which accord with the accounting records and comply with the requirements of the Act and the Regulations have not been met; or - 2 To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Mr James Griffen ACA Chartered Accountant 4 Bettws Y Coed Road Cardif Wales Date: 15/10/2024