2022-12-31-accounts

The Prochial Church Council of St Mary the Virgin, Bures

Financial Statements for the year ended 31 December 2022

PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, BURES FINANCIAL STATEMENT FOR THE YEAR ENDING 31 DECEMBER 2022

This report on the accounts of the PCC for the year ended 31 December 2022 which are set out in pages 2 to 8 is in respect of an examination carried out in accordance with the Church Accounting Regulations 2006 [“The Regulations”] and s.145 of the Charities Act 2011 [“The Act”].

Respective responsibilities of trustees and examiner

As the members of the PCC you are responsible for the preparation of the accounts; you consider that the audit requirement of the Regulations and section 144 (2) of the Charities Act do not apply. It is my responsibility to issue this report on those accounts in accordance with the Terms of the Regulations.

Basis of independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commission under section 145 (5) (b) of the Act and to be found in the Church Guidance 2011 Edition. That examination includes a review of the accounting records kept by the PCC and a comparison of the accounts with those records. It also includes considering any unusual items or disclosures in the accounts 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

2. to keep accounting records in accordance with section 130 of the Act; and

3. to prepare accounts which accord with the accounting records and to comply with the requirements of the Act, and the Regulation have not been met; or

4. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached;

Signed:

Examiner: Date:

Page 1

PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, BURES

FINANCIAL STATEMENT FOR THE YEAR ENDING 31 DECEMBER 2022

INCOMING RESOURCES Voluntary income Activities for generating funds Income from investments Income from Church activities TOTAL INCOMING RESOURCES RESOURCES USED Parish Share Church running costs Cost of generating funds TOTAL RESOURCES USED NET (DEFICIT)/SURPLUS Bank and deposit accounts Balances brought forward as previously reported Tower fund adjustment Net (deficit)/surplus Transfers between funds Balances carried forward	Note 2a 2b 2c 2d 3a 3b	Unrestricted funds 2022 £ 65,471 2,797 78 15,019 83,365 47,978 35,599 1,015 84,592 (1,227) 23,562 - 23,562 (1,227) (1,032) 21,303	Restricted funds 2022 £ 16,636 3,329 927 6,690 27,582 - 30,589 476 31,065 (3,483) 38,231 2,282 40,513 (3,483) 1,032 38,062	Total funds 2022 £ 82,107 6,126 1,005 21,709 110,947 47,978 66,188 1,491 115,657 (4,710) 61,793 2,282 64,075 (4,710) - 59,365	Total funds 2021 £ 96,503 2,169 741 10,964 110,377 55,262 45,937 100 101,299 9,078 52,715 - 52,715 9,078 - 61,793

Page 2

PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, BURES

2 - INCOMING RESOURCES

2a Voluntary income Gift Aided donations Non-Gift Aided giving Collections Giving through church boxes One off gifts Legacies and grants Donations, appeals, etc Gift Aid recovered thereon 2b Activities for generating funds Fetes, bazaars, bookstall 2c Income from investments Interest & dividends 2d Income from church activities Fees for weddings and funerals Benefice weekend Open Doors Magazine advertising Magazine sales Other activities Transfers from other churches TOTAL INCOMING RESOURCES	Unrestricted funds £ 42,819 3,768 4,619 - 399 - 492 13,374 65,471 2,797 2,797 78 78 2,458 - 885 5,102 2,504 1,643 2,427 15,019 83,365	Restricted funds £ 10,535 - 598 395 325 400 2,185 2,198 16,636 3,329 3,329 927 927 - 6,690 - - - - - 6,690 27,582	TOTAL FUNDS 2022 2021 £ £ 53,354 55,998 3,768 6,108 5,217 2,325 395 119 724 - 400 11,469 2,677 7,444 15,572 13,040 82,107 96,503 6,126 2,169 6,126 2,169 1,005 741 1,005 741 2,458 2,188 6,690 5,700 885 448 5,102 466 2,504 2,093 1,643 70 2,427 - 21,709 10,964 110,947 110,377

Page 3

PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, BURES 3 – OUTGOING RESOURCES

Unrestricted funds £ 3a Church Running Costs Missionary and charitable giving: Giving to mission societies - Giving to relief and dev. agencies - Home mission - Secular charities 30 30 Clergy and staff costs: Assistant staff 130 Salary and payroll processing for the pari 7,748 Visiting speakers 92 Working expenses of incumbent 404 8,374 Church running costs: Training and mission 210 Benefice weekend 500 Messy church - Counselling and education 337 Insurance - Organ tuning - Cleaning 1,232 Moveable furnishings 252 Upkeep of services - Worship materials 316 Upkeep of churchyard 57 Flowers 596 Administration 1,615 Catering 1,131 Photocopying 2,343 Software licences 622 Website and publicity 177 Church office 2,587 Electricity 2,295 Water 217 Oil - Broadband 91 Magazine costs 5,014 Regular maintenance 160 Major works 7,443 27,195 Total 35,599 3b cost of generating funds Costs of fund raising 1,015	Restricted funds £ 4,984 2,532 677 1,129 9,322 - 2,750 - - 2,750 - 3,830 118 - 2,819 186 - - - 55 - 117 2 - - - - - - - 3,262 - - 3,128 5,000 18,517 30,589 476	2022 2021 £ £ 4,984 3,605 2,532 1,783 677 1,823 1,159 328 9,352 7,539 130 1,300 10,498 6,497 92 207 404 464 11,124 8,468 210 282 4,330 8,862 118 26 337 378 2,819 2,684 186 96 1,232 1,264 252 - - 212 371 98 57 1,372 713 412 1,617 463 1,131 390 2,343 912 622 1,028 177 555 2,587 1,144 2,295 477 217 155 3,262 1,142 91 - 5,014 4,865 3,288 3,113 12,443 - 45,712 29,930 66,188 45,937 1,491 100 Total Funds

Page 4

PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, BURES

4 – MOVEMENT IN FUNDS

Fund Note Fabric Maintenance Probert legacy – nave ceiling 4c Russe Salaries, wages, honararia Messy Church Clock Trust Sharp Flower fund Dorcas Bridge Tower Fund – Bells Donor Specified Launde 4b Total restricted funds General fund 4a

Brought Incoming Outgoing Carried forward resources resources Transfers forward £ £ £ £ £ 30,034 7,458 (9,173) (17,500) 10,819 - - - 17,500 17,500 - 2,000 (2,000) - - - 2,750 (2,750) - - 546 - (118) - 428 294 266 (222) - 338 576 455 (616) - 415 5,613 82 (357) - 5,338 2,282 182 - - 2,464 1,168 14,389 (13,310) (1,671) 576 - - (2,519) 2,703 184 40,513 27,582 (31,065) 1,032 38,062 23,562 83,365 (84,592) (1,032) 21,303 64,075 110,947 (115,657) - 59,365

Note

4a

Description

The transfer of £1,032 from the general fund to the donor specified fund was to correct historic deficits within the fund.

4b

The transfer of £2,703 from the donor specified fund to the Launde Abbey fund was to transfer all of the funds held in respect of the benefice weekend at Launde Abbey to an individual fund.

4c

The transfer of £17,500 from the fabric fund to the Probert legacy fund was to separate the money held in respect for repairs to the nave ceiling from the fabric fund.

Page 5

PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, BURES 5 – STATEMENT OF ASSETS AND LIABILITIES

Bank Accounts NS&I Investment account Cash in hand CCLA Deposit Total Funds		Total £ 14,616 2,284 180 42,285 59,365		General Fund £ 9,261 - - 12,042 21,303	Fabric £ 3,319 - - 7,500 10,819	Donor Specified £ 576 - - - 576	Sharp Flower Fund £ 415 - - - 415	Tower Fund £ - 2,284 180 - 2,464	Clock Trust £ 338 - - - 338	Messy Church £ 428 - - - 428	Dorcas Bridge £ 95 - - 5,243 5,338	Probert Nave Legacy £ - - - 17,500 17,500	Launde £ 184 - - - 184

Debtors

As at 31 December 2022, the PCC had paid a deposit of £2,518.56 towards the benefice weekend, which is due to take place in 2023.

Liabilities

At 31 December 2022 the PCC held £436 on account in respect of weddings fees for the final quarter of 2022, which are to be paid to the Diocesan Board of Finance.

The PCC also held the sum of £408 in the donor specified fund in respect of a collection for the parish administrator, which was paid to her in the service on 8 January 2023.

The PCC has a photocopier lease agreement, which commenced on 1 December 2021 and finishes on 1 December 2026. As at 31 December 2022, the amounts due in respect of this lease are as follows:

2022

Amounts Falling due within one year Amounts falling due within 1 - 5 years Total amounts due	1,219 3,656 4,875

Page 6

PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, BURES NOTES TO THE FINANCIAL STATEMENT

1. Accounting Policies of the Parochial Church Council

The Financial Statements of the PCC have been prepared in accordance with the Church Accounting Regulations 2011 using the Receipts and Payments basis.

Funds

General funds represent the funds of the PCC that are not subject to any special restrictions regarding their use and are available for application to the general purposes of the PCC. These include funds designated for a particular purpose by the PCC.

The accounts include monetary transactions, assets and liabilities for which the PCC can be held responsible. They do not include the accounts of other Church groups that owe an affiliation to another body, nor those that are informal gatherings of Church members.

Subject to the above, receipts and payments include income as received and expenditure when irrevocably paid.

It is the aim of the PCC to retain a reserve fund equivalent to 3 months expenditure. Members would like to see a sum of £25,000 held in this fund, although they appreciate that this may not always be possible.

Statement of Assets and Liabilities

The following assets are recognised but not valued in the Statement of Assets and Liabilities:

	Moveable church furnishings held by the churchwardens on special trust for the PCC and which
·	require a faculty for disposal.
·	Land and buildings held on behalf of the PCC.
	Other fixtures, fittings and office equipment where the PCC is free to dispose of such assets
·	without faculty and where the original cost exceeded £1,000.
	Legacies where formal notification of entitlement and amount has been received at 31 December
·	by the PCC.
·	Investments held beneficially by the PCC.
·	Closing bank balances as shown in the receipts and payment account.

The following liabilities are recognised in the Statement of Assets and Liabilities:

·	Any loan or overdraft advanced to the PCC
·	Any arrears of Diocesan Quota of Parish Share.
·	Creditors for goods or services where the supply has been received and invoiced by 31
	December.

Page 7

PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, BURES

NOTES TO THE FINANCIAL STATEMENT

2 – Bures PCC Charitable Giving 2022

EPIC/Russe EPIC/Ukraine Appeal Success After Stroke Water Aid Storehouse RNID Children’s Society Haig Fund SCHT	Unrestricted £ 30.00 30.00	Restricted £ 2,000.00 2,983.71 1,854.87 677.45 677.44 500.00 70.08 558.52 9,322.07	Total £ 2,000.00 2,983.71 1,854.87 677.45 677.44 500.00 70.08 558.52 30.00 9,352.07

3 – Transfers from other churches in the benefice

During the year ending 31 December 2022, the PCC incurred expenditure on behalf of the benefice. The other churches in the benefice, being Little Cornard and Assington, have made contributions towards this expenditure, which can be categorised as follows:

Donation from Assington and Little Cornard, covering their equal share of the interview expenses for the new incumbent Total Transfers from other Churches in the benefice Description Donation from Assington and Little Cornard towards the church office and parish administrator		Unrestricted £ 1,560.00 867.36 2,427.36

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