2022-12-31-accounts

Charity registration number 1168178

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER'S, BROMYARD

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER'S, BROMYARD

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Brenda Allan Carole Freegard Jennifer Franklin Mark Franklin Peter Cliff Robert Hollis Roger Wilkins Ursula Huxtable Robin Lowe (Appointed 11 September 2022) Jane McCarthy (Appointed 15 May 2022) Michael Dukes (Appointed 15 May 2022) Rev Philip Miller (Appointed 9 March 2023) Ben Stapley (Appointed 24 July 2022)

Roger Wilkins and Mark Franklin are Church Wardens.

Charity number 1168178 Charity address 28 Church Lane Bromyard United Kingdom HR7 4DZ Independent examiner Kendall Wadley LLP Granta Lodge 71 Graham Road Malvern Worcestershire WR14 2JS Bankers NatWest Plc 1 The Cross Worcester WR1 3PR

CCLA One Angel Place London EC4R 3AB

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER'S, BROMYARD

CONTENTS

	Page
Trustees' report	1 - 3
Independent examiner's report	4
Statement of financial activities	5
Balance sheet	6
Notes to the financial statements	7 - 17

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER'S, BROMYARD

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees present their annual report and financial statements for the year ended 31 December 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Parochial Church Council (Powers) measure 1956 as amended and Church Representation Rules that came into force on 2 January 1957, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102j” as amended for accounting periods comrnencing from 1 January 2019)

Objectives and activities

The overriding aim of St. Peter’s Church, Bromyard is to function as a parish church within the Church of England in the parish of Bromyard, promoting the mission of the Church and providing weekly worship, fellowship, service to our community, and occasional services such as baptisms, weddings and funerals.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the P.C.C. should undertake.

Achievements and performance

The highlights of the year are set out below,:

• Beginning the year with our Vicar suspended, and in vacancy from April 2022, we have nonetheless maintained regular Sunday worship, including Holy Communion, across the Benefice throughout the year. In this we have been greatly assisted by retired ministers Reverends Wallace Brown, Christine Waudby and David Gifford to whom we are extremely grateful.

• Beginning under David’s leadership, and building on the less formal prayer group previously overseen by Jill Simmons, we have instituted a regular Wednesday morning worship service.

• We continued to contribute to the ongoing development of Reverend Kina Robertshaw as Curate and Associate Minister. We are immensely grateful to Kina, who chose to remain with us, beyond the end of her Curacy, in order to support us through the difficult period of our Vicar’s suspension and the subsequent vacancy.

• We received a new Lay Reader, Michael Wild, who we were delighted to welcome and who was licensed to us in September 2022.

• With the PCC of Stoke Lacy, we prepared a Benefice Profile to facilitate the recruitment of a new Incumbent and elected Parish Representatives to take part in the interview process. This resulted in the appointment of our new Incumbent, Reverend Philip Miller, whom we are thrilled to welcome.

• The training as Local Worship Leaders of 10 people from across the Deanery, including 4 from St. Peter’s Church. The training was initiated by Chris Evans, Lay Reader at Whitbourne and then brought into the Diocesan training programme led by Reverend Dr. Elizabeth Wild, Local Ministry Lead for the Diocese, who together with Chris, conducted the training in Bromyard. (The Local Worship Leaders were commissioned by the Bishop of Hereford on March 12, 2023.) We are very grateful to Elizabeth and Chris.

• We have continued to support the Bromyard Food Bank and Money Advice Centre, which though now an independent charity began under the auspices of St. Peter’s Church.

• We have largely completed major repairs to the ceiling of the nave. Only the final snagging remains to be done.

Attendance and membership have remained approximately steady.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER'S, BROMYARD

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Challenges

The main challenges facing the Church are:

• to attract families, children and young people

• to deepen and broaden our links to and involvement with the community. We have recently begun a major consultation exercise in the community to obtain their views on, and potentially involvement in, the possible re-ordering of the nave to enable its use as a community venue. In the course of this exercise, we aim to deepen our understanding of the needs of the community and their understanding of what we offer.

• to rebuild our work with local schools, which was interrupted by the suspension of our Vicar and the Covid-19 pandemic.

• to help our members to grow in their ministries. Having led the training of Local Worship Leaders, Reverend Dr. Elizabeth Wild and Chris Evans are now providing training in pastoral care and may offer a further course on local mission.

• Like many churches, finance is a challenge. This has been sharpened by the necessary, but expensive, ceiling repairs completed in 2022 and the recent rise in energy prices. The Curacy House is currently vacant and will be let on short term rental. This is expected, after maintenance costs, to provide some additional income.

Financial review

The results for the year are set out in the financial statements commencing on page 5.

It is the policy of the PCC that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the PCC.’s current activities while consideration is given to ways in which additional funds may be raised. Free reserves (unrestricted funds less tangible fixed assets) after undertaking a significant repair project costing in the region of £53,000, are £13,688 (2021 - £55,441) just under the lower end of the range preferred.

The Trustees have assessed the major risks to which the PCC is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.

It is the policy of the P.C.C. that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the P.C.C.’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The Trustees have assessed the major risks to which the P.C.C. is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The Parochial Church Council (PCC) is subject to the following Approved Governing Documents:

• the Parochial Church Councils (Powers) Measure 1956, as amended

• the Church Representation Rules (contained in Schedule 3 to the Synodical Government Measure 1969, as amended)

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER'S, BROMYARD TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees who served during the year8re as described in the Legal and Administrative Infomialion section of Ihese financial statements plus.. Rev. Wallace Brown I￿81gned May 15, 2022) Rev. Clive Evans (removed 22 August 20221 Rev. Kina Robertshaw Iresiwed February 19, 20231 The method of appointment of PCC members is sel out in the Church Representation Rules. All Church attendees 8re encouraged to regist8T on the Electoral Roll and May sland lor election to the PCC. Members of Ihe Parochial Church CoLJncil aTe required lo agreè lo their details being Submitted to the Charity Commission for display on the Register. As part of this pro￿sS, members are reminded of the fact that they are trustees of a charity, being the parish church, ils work and rts resources. and that they must gd accordingly. Trainlng is provided through trustee mèetings and an undeislanding of guidAnce available from the Charity Comrnission. he Trustees, report was approved by the Board of Trustees. Roger Wilklns Trustee Oaled.. 12 May 2023

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER'S, BROMYARD INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER'S. BROMYARD I report lo the Trustees on my examh)alion of the finandal 8lalements of The Parochial ChuTch Council Of The EccksiaslcAI Parish of Sl. P8leVs, Bromyard Ilhe P.C.C.) foT the year ended 31 December 2022. Responsibilities and basis of report As the TnJst89s of tho P.C.C. you are re8ponsitAe for Ihe preparation of Ihe financial statem￿lS in a¢uydance with the requiremènts of the ChartUesAcl 2011 (the 2011 Act). I ￿port in r8spgrl of my 6xamination of ihe P.C.C.'8 ￿an￿al statements carried out under section 145 of the 2011 Act. In Carrylng out my examlnatlon I have folkjwed al Ihe ar4)ll￿ble Directions given by the Ch8rNy Commission undeT section 14515)Ib) of the 2011 Act. Indopendant axamlnerfs $tat•Thnt Your attention is drawn lo the lad that the charfty has wepared fln8ndal 8talem8nts In acLX)rdarKe with Accounting and Reporttng by Charflies prgparing their a(wunls in accoTLlance wlh th& Financial Reporting Standard applicable in the UK and Rèpublic of Ireland {FRS 102) in Preferen￿ to the Accounting and Report4ng by Charities.. Statement of Re¢ommended Prddce Issued on 1 Wil 2005 whlch Is Teferred lo In tho oxlant fagula￿on6 bul has now been withdrawn. l understand that this has been done in order ￿ finan(#al s18lèm8nts to provide a true and lair view In accordan￿ with Generally AC￿pIed Accounting Practice effeciive for reporbng pefiods beginning on or after 1 January 2015. I have ¢omplo18d my exambnallon. I confirm that no matters have cm to my attenlkin in C￿nn$¢I10￿ wllh the examlnation glvlng me caus8 to bellgve that In any material respect.. 8eKounling iecords worts not kept in re8pe( of the P.C.C. as required by secuon 130 of the 2011 Actr, or the financtal statements do tM)t a¢cor<l wrth those rtcords.. or the financial slalements do not compty whh the appli¢abte requiremen15 concerning the fomi and conlgnl of ac¢ounls sel out In th8 Charilles {Aco)un18 and Reports) Regulations 2008 other than any reqU1￿ment that Ihg accounts give a Iwe and fair view whKh is not a matlgt constdered as part of an Independent &xamlnallon. I have no concems and hava com6 a¢ros$ no tslhgr malleys in conE)ethon with the examination to vjhloh att should be drawn In thls report in oriler to enable a proper understanding of the financsal slalemÈnls to Elizabeth Needham ACA CTA {VAT) Kendall Wadley LLP Granta Lodge 71 Graham Road Malvem Wortyter8hl 14 2JS Dated= 12 May 2023

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER'S, BROMYARD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted Restricted funds funds 2022 2022 Notes £ £ Income and endowments from: Donations and legacies 3 46,228 14,557 Charitable activities 4 7,490 105 Investments 5 35 306 Other income 6 241 - Total income 53,994 14,968 Expenditure on: Charitable activities 7 95,653 14,085 Net (outgoing)/incoming resources before transfers (41,659) 883 Gross transfers between funds 11 (94) 94 Net (expenditure)/income for the year/ Net movement in funds (41,753) 977 Fund balances at 1 January 2022 153,170 43,912 Fund balances at 31 December 2022 111,417 44,889	Total Unrestricted Restricted funds funds 2022 2021 2021 £ £ £ 60,785 38,031 3,616 7,595 7,078 - 341 25 17 241 145 - 68,962 45,279 3,633 109,738 70,031 30,421 (40,776) (24,752) (26,788) - (100) 100 (40,776) (24,852) (26,688) 197,082 178,022 70,600 156,306 153,170 43,912	Total 2021 £ 41,647 7,078 42 145 48,912 100,452 (51,540) - (51,540) 248,622 197,082

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER'S, BROMYARD BALANCE SHEET AS AT31 DECEMBER 2022 2022 2021 Fixed assets TangiE4e assets 12 97.729 97.729 Current assets Debtors Cash al bank and in hand 13 5,955 76,250 4,262 .037 82205 100299 Creditors: amounts falling due within one yèar 14 116.128) {946) Nel current assets 66,077 99,353 Totsl assèts less current Ilabilities 163.8L 197,082 C￿dI10￿. amountsfalllng dueafter fnore than one year 15 17.5LN)) Net aS￿ts 156,306 197,082 Income funds Restricted funds Unrestricted funds- gener81 17 44,889 111.417 43,912 153,170 156,S 197,082 The fin statements We￿ approwj by the Trustees on 12 May 2023 gei Trustee

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER'S, BROMYARD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

Charity information

The Parochial Church Council Of The Ecclesiastical Parish of St. Peter's, Bromyard is an unicorporated charity registered with the Charity Commission for England and Wales. The principal address is Church Lane, Bromyard HR7 4DZ

1.1 Accounting convention

The financial statements have been prepared in accordance with the Church Of England Measures (the Parochial Church Councils (Powers) Measure 1956 as amended and the Church Representation Rules), the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019). The P.C.C. is a Public Benefit Entity as defined by FRS 102.

The P.C.C. has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the P.C.C. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the P.C.C. has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Incoming resources

Income is recognised when the P.C.C. is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the P.C.C. has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the P.C.C. has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER'S, BROMYARD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

(Continued)

1.5 Resources expended

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings

Nil, given estimated residual value is believed to be in excess of cost

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

1.8 Financial instruments

The P.C.C. has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the P.C.C.'s balance sheet when the P.C.C. becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER'S, BROMYARD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the P.C.C.’s contractual obligations expire or are discharged or cancelled.

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the P.C.C. is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the P.C.C.’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Restricted funds funds general 2022 2022 £ £ Donations and gifts 44,728 481 Legacies receivable 1,500 - Grants receivable - 14,076 46,228 14,557	Total Unrestricted Restricted funds funds general 2022 2021 2021 £ £ £ 45,209 37,031 3,616 1,500 1,000 - 14,076 - - 60,785 38,031 3,616	Total 2021 £ 40,647 1,000 -
		41,647

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER'S, BROMYARD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

4 Charitable activities

Charitable objectives Flower Fund £ £ Income - 105 Christmas Tree Festival 200 - Use of rooms 250 - Funerals and Weddings 7,040 - 7,490 105 Analysis by fund Unrestricted funds - general 7,490 - Restricted funds - 105 7,490 105 For the year ended 31 December 2021 Unrestricted funds - general 7,078 -	Total 2022 £ 105 200 250 7,040 7,595 7,490 105 7,595	Total 2021 £ - - 20 7,058
		7,078
		7,078

The above income relates to unrestricted activities

5 Investments

Unrestricted Restricted funds funds general 2022 2022 £ £ Interest receivable 35 306 Other income Sundry Income	Total Unrestricted Restricted Total funds funds general 2022 2021 2021 2021 £ £ £ £ 341 25 17 42 Unrestricted Unrestricted funds funds general general 2022 2021 £ £ 241 145	Total 2021 £ 42

6 Other income

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER'S, BROMYARD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

7 Charitable activities

Costs of ministry Flower fund 2022 2022 £ £ Staff costs 960 - Various projects 1,715 215 Church fees 2,114 - Insurance 4,691 - Heat and Light 9,383 - Rates 268 - Church Upkeep 70,254 - Church office expenses 865 - Church service expenses 2,730 - Sundry expenses 1,073 - Outreach and local mission 1,204 - World Mission 2,415 - Other charitable expenditure 4,834 - 102,506 215 Share of support costs (see note 8) 5,907 - Share of governance costs (see note 8) 1,110 - 109,523 215 Analysis by fund Unrestricted funds - general 95,637 16 Restricted funds 13,886 199 109,523 215

Total 2022 Costs of ministry 2021 £ £ 960 - 1,930 30,422 2,114 26,134 4,691 4,428 9,383 4,140 268 247 70,254 6,971 865 478 2,730 3,112 1,073 1,205 1,204 8,620 2,415 4,220 4,834 3,335 102,721 93,312 5,907 6,240 1,110 900 109,738 100,452 95,653 70,031 14,085 30,421 109,738 100,452

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER'S, BROMYARD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

8 Support costs

Support costs Governance costs £ £ Staff costs 5,907 - Independent examiners fees - 1,110 5,907 1,110 Analysed between Charitable activities 5,907 1,110	2022 £ 5,907 1,110 7,017 7,017	2021 Basis of allocation £ 6,240 Activity 900 Governance 7,140 7,140

Governance costs includes payments to the accountants of £1,110 (2021- £900, accountants fees) for independent examination fees.

9 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the P.C.C. during the year. No trustees (2021 - no) were re-imbursed expenses.

10 Employees

There was 1 employee during the year (2020-1.)

Employment costs	2022	2021
	£	£
Wages and salaries	6,867	6,240

11 Transfers

Transfers have been made between unrestricted and restricted funds of £94 (2021 - £100) to clear deficits arising on projects.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER'S, BROMYARD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

12	Tangible fixed assets
			Freehold land and buildings
				£
	Cost
	At 1 January 2022			97,729
	At 31 December 2022			97,729
	Carrying amount
	At 31 December 2022			97,729
	At 31 December 2021			97,729
13	Debtors
			2022	2021
	Amounts falling due within one year:		£	£
	Prepayments and accrued income		5,955	4,262
14	Creditors: amounts falling due within one year
			2022	2021
		Notes	£	£
	Borrowings	note 15	2,500	-
	Deferred income	16	6,460	-
	Trade creditors		3,643	-
	Accruals and deferred income		3,525	946
			16,128	946
15	Creditors: amounts falling due after more than one year
			2022	2021
			£	£
	Other creditors		7,500	-

A loan has been received from Herefordshire Historic Churches Trust. The loan is for £10,000, interest free, unsecured and is repayable in four equal annual instalments.

An application was made to the Trust to convert all or part of the amount advanced into a grant. Subsequent to the year end the PCC have received notification that this will be commuted to a grant, subject to the issuance of a certification of completion by the architect.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER'S, BROMYARD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

16 Deferred income Other deferred income Deferred income is included in the financial statements as follows: Deferred income is included within: Current liabilities Movements in the year: Deferred income at 1 January 2022 Resources deferred in the year Deferred income at 31 December 2022	2022 £ 6,460 2022 £ 6,460 - 6,460 6,460	2021 £ -
		2021 £ -
		- -
		-

The deferred income relates to an award from the Plunkett Foundation to assist with project development costs, any unspent amount is to be returned to the Foundation. Expenditure is likely to occur in 2023.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER'S, BROMYARD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

17 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

		Movement in funds	Movement in funds			Movement in funds	Movement in funds
	Balance at	Incoming	Resources	Transfers	Balance at	Incoming	Resources	Transfers	Balance at
	1 January 2021	resources	expended		1 January 2022	resources	expended		31 December
									2022
	£	£	£	£	£	£	£	£	£
Bell augmentation fund	-	603	(320)	-	283	-	-	-	283
Bell repair fund	8,778	2	-	-	8,780	517	-	-	9,297
Fabric fund	217	4	-	-	221	-	-	-	221
Flower fund	-	-	-	-	-	105	(199)	94	-
Helping Hands	26,081	3,013	(29,194)	100	-	-	-	-	-
New organ fund	35,524	11	(907)	-	34,628	270	(1,475)	-	33,423
LPW church upkeep	-	-	-	-	-	10,506	(10,506)	-	-
Hereford Diocese energy grant	-	-	-	-	-	3,330	(1,665)	-	1,665
Capital development	-	-	-	-	-	240	(240)	-	-
	70,600	3,633	(30,421)	100	43,912	14,968	(14,085)	94	44,889

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER'S, BROMYARD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

17 Restricted funds

(Continued)

Bell Augmentation Fund - relates to keeping the bells and bell tower in good repair. It is to be closed and unspent funds added to the fund next listed.

Bell Repair Fund -relates to keeping the bells and bell tower in good repair.

Fabric Fund - is restricted to repair of the fabric of St Peter’s Church and associated structures.

Helping Hands - is administered by the PCC on behalf of the Helping Hands, Bromyard, a local ‘food bank’ and it is restricted solely to the purposes of the food bank.

New Organ Fund - relates to keeping the church organ and associated fabric in good repair as well as enhancing the music of St Peters Church as well as to related purposes.

LPW Scheme - Government funding available under the Listed Places of Worship Grant Scheme to cover VAT charged on repairs in excess of £1,000.

Hereford Diocese - Grant from the Archbishops Council managed by the Diocese towards the increased costs of energy.

Capital Development - Grant funding received towards the costs of a potential capital project.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER'S, BROMYARD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

18 Analysis of net assets between funds Unrestricted funds Restricted funds 2022 2022 £ £ Fund balances at 31 December 2022 are represented by: Tangible assets 97,729 - Current assets/(liabilities) 21,188 44,889 Long term liabilities (7,500) - 111,417 44,889	Total Unrestricted funds Restricted funds 2022 2021 2021 £ £ £ 97,729 97,729 - 66,077 55,441 43,912 (7,500) - - 156,306 153,170 43,912	Total 2021 £ 97,729 99,353 -
		197,082

19 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).

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