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
- to keep accounting records in accordance with section 130 of the Act; and
- 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
2. 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|
|---|---|---|
Page 8