## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Licensed Lay Ministers-Allan Jonnes,PippaHillen
Bishop'sLicence-SophieKersey, Lin Hutchinson, Emma Lawrence
ClergyPTO-Rev RaySkinner
PCCmembers|Licensed Lay Ministers-Allan Jonnes,PippaHillen
Bishop'sLicence-SophieKersey, Lin Hutchinson, Emma Lawrence
ClergyPTO-Rev RaySkinner
PCCmembers|Licensed Lay Ministers-Allan Jonnes,PippaHillen
Bishop'sLicence-SophieKersey, Lin Hutchinson, Emma Lawrence
ClergyPTO-Rev RaySkinner
PCCmembers| |---|---|---| |Ex Officio members
Rector:
ReverendStephenHills (until2.7.24)(Chai$ Churchwardens:Bob Gibson-StLawrence(Vice Chair)||| ||Ed Dix-Perkin-St Lawrence|| ||Roy Langman-St Peter|| ||Lin Hutchinson-St Peter|| |DiocesanSynod:
DeanerySynod:|Rodney Hutchinson
Mary Cottle-StLawrence'i|| ||Lin Hutchinson-StPeter|| |Elected members:|ThomasBird-StPeter|(fromAPCM 2023)| ||StevenBoulton-St Lawrence|| ||PeterDillon (Parish Treasurer)|| ||PippaHillen-St Lawrence|| ||AnneHinds (Pastoral Co-ordinator)
KarenBull-StPeter
(untilAPCM 2024)|| ||AlisonLush (Secretary)|| ||AlisonMighell (ParishSafeguardingOfficer)|| ||lt/arionShort-St Peter
Linda Stone-StPeter|(fromAPCM 2024)| # **The Parochial Church Council of the Ecclesiastical Parish of St Lawrence Bidborough and St Peter Southborough** **Charity no.1184753** **Annual Report and Financial Statements Year ended 31st December 2024** **- Parochial Church Council St Lawrence & St Peter Charity Number 1184753** ## **BALANCE SHEET at 31 December 2024** ||**Note**|**2024**|**2023**|| |---|---|---|---|---| |Fixed Assets|1|91,560|91,560|| |**Total fixed assets**||**91,560**|**91,560**|| |**Current Assets**|**Note**|||| |Debtors & Prepayments|2|16,674|12,766|| |Short term deposits||101,929|98,002|| |Repair funds|3|66,591|59,005|| |Cash at bank and in hand|4|32,613|57,332|| |**Total current assets**||**217,808**|**227,105**|| |**Creditors/Liabilities:**||||| |Falling due within one year|2|2,967|5,763|| |**NET CURRENT ASSETS**||**214,840**|**221,342**|| |||||| |**Total Assets - Net Curr Liabs**||**306,400**|**312,902**|| |**FUNDS OF THE CHARITY**||||| |Unrestricted|6|297,714|305,533|| |Restricted|6|8,686|7,369|| |Endowment||||| |||**306,400**|**312,902**|| |Approved by the Parochial Church Council on||and signed on|its behalf by:|| |Signed Chairman PCC||||Dated| |during Interregnum||||| |P Dillon||||| |Signed P A Dillon (PCC Treasurer)||||| ## ## ||Note|2024|202?||| |---|---|---|---|---|---| |FixedAssets|1|91,560|91,560||| |Totalfixedassets||91,560|91,560||| |CurrentAssets|Note||||| |Debtors&Prepayments|2|L6,674|12,766||| |Shorttermdeposits||LOL,929|98,002||| |Repairfunds|3|66,591|59,005||| |Cashatbankand inhand|4|32,6t3|57,332||| |Totalcurrentassets||217,W8|
227,LO5||| |Creditors/Liabilhies:|||||| |Fallingduewithinoneyear|2|2,967|5,763||| |NETCURRENTASSETS||ry@|22t,:yt2||| |TotalAssets-Net CurrLiabs||306,400|3,,2,go2||| |FUITIDSOFTHE CHARITV|||||| |Unrestricted|6|297,774|305,533||| |Restricted|6|8,686|7,369||| |Endowment|||||| |||306,400|3t2,9O2||| |ApprovedbytheParochial Church|Councilon|
andsignedon|its behalfby:||| |ChairmanPCC
lnterregnum|W|||Dated|Lt{r[Lt| |P|fi-c-/(4||||zslztzs| ## **Parochial Church Council - St Lawrence & St Peter. Charity Number 1184753 Notes to the BALANCE SHEET For twelve months ended 31 December 2024** |**Note**
**1**
**2**
**3**
**4**
**5**|Fixed Assets
Ivy Cottage
54 Holden Park Road
Ivy Cottage was given to St Lawrence Church in 1910
54 Holden Park Road was given to Christ Church and
Debtors and Prepayments
Income tax recoverable - gift aid
Advertising
Annual insurance prepaid for Ivy Cottage
Prepaid Utilities
Amount due from Christ Church re. 54HPR
Repairs Funds
Diocesan church repair fund
St L - Diocesan Ivy Cottage repair fund
Cash at bank and in hand
St L - HSBC - current a/c
St L - Lloyds bank - current a/c
St L - HSBC Deposit a/c
St L - HSBC Deposit a/c
St P - Lloyds TSB Current Account
St P - Tithe Account
St P - Vicar's discretionary fund
Creditors and accruals
Rectory repairs Accruals
Ivy Cottage repairs Accruals
St L Electricity Meter Failure
DBF Fees Accrual
St P Electricity (late)
St P Gas Bill (not received)
Tithing accrual for Prior Years
Fellowship Afloat Deposits|**St Lawrence**
**St Lawrence**
**2024**
**2023**
£
£
75,960
75,960
-
-
75,960
75,960
by Emily Maynard "for the benefit of the Rector
St Peters Southborough. The property value, inco
1,822
2,335
600
-
-
1,822
2,935
34,294
31,775
9,928
8,812
44,222
40,587
1,761
3,315
1,336
966
21,176
32,518
7,428
7,287
31,701
44,086
748
1,299
1,016
500
451
-
438
250
2,572
1,949
5,325|**St Peter**
**St Peter**
**2024**
**2023**
£
£
-
-
15,600
15,600
15,600
15,600
and use by the church members"
me and expenses are shared on a 70:30 ba
1,323
1,610
13,529
8,221
14,852
9,831
22,369
18,418
-
22,369
18,418
-
-
-
708
13,042
204
204
912
13,246
382
438
287
350
1,019
438|**Parish Total**
**Parish Total**
**2024**
**2023**
£
£
75,960
75,960
15,600
15,600| |---|---|---|---|---| |||||91,560
91,560| |||||sis.
3,145
3,945
-
-
-
600
-
-
13,529
8,221| |||||16,674
12,766| |||||56,663
50,193
9,928
8,812| |||||66,591
59,005| |||||1,761
3,315
1,336
966
21,176
32,518
7,428
7,287
708
13,042
-
-
204
204| |||||32,613
57,332| |||||748
1,299
-
1,016
832
438
350
438
250
2,572| |||||2,967
5,763| ## **Parochial Church Council - St Lawrence & St Peter. Charity Number 1184753** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **For twelve months ended 31 December 2024** |**INCOMING RESOURCES**
Note
Voluntary income
1(a)
Activities for generating income
1(b)
Income from investments
1(c)
Income from church activitites
1(d)
**Total**
**RESOURCES EXPENDED**
Parish share
2(a)
Salaries, wages and honoraria
2(b)
Clergy & staff expenses
2(c)
Church running expenses
2(d)
Church activity expenses
2(e)
Mission giving and donations
2(f)
Rectory, Ivy Cottage & 54HPR
2(g)
Major repairs to church
2(h)
Major repairs to hall
2(i)
Major repairs to parsonage
2(j)
New building work
2(k)
Other
2(l)
**Total**
NET Incoming resources before other recognised gains
Gains on investment assets
on disposal
on revaluation
NET MOVEMET IN FUNDS
TRANSFERS BETWEEN FUNDS
3
BALANCES BROUGHT FORWARD AT
1 JANUARY
BALANCES CARRIED FORWARD AT
31 DECEMBER|**Unrestricted**
**Restricted**
**Endowment**
**TOTAL**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
**£**
75,628
0
0
75,628
56
3,117
0
3,173
7,166
0
0
7,166
9,606
0
0
9,606
~~**92,456**~~
~~**3,117**~~
~~**0**~~
~~**95,573**~~
67,000
0
0
67,000
0
0
0
0
0
0
0
0
24,147
1,800
0
25,947
803
0
0
803
4,754
0
0
4,754
3,571
0
0
3,571
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
**100,275**
**1,800**
**0**
**102,075**
(7,819)
1,317
0
(6,502)
0
0
0
0
**2024**|**_2023_**| |---|---|---| |||**_Unrestricted_**
**_Restricted_**
**_Endowment_**
**_TOTAL_**
**_Funds_**
**_Funds_**
**_Funds_**
**_£_**
**_£_**
**_£_**
**_£_**| |||_83,902_
_18,438_
_0_
_102,340_
_0_
_0_
_0_
_0_
_5,172_
_0_
_0_
_5,172_
_7,302_
_0_
_0_
_7,302_| |||~~**_96,376_**~~
~~**_18,438_**~~
~~**_0_**~~
~~**_114,814_**~~| |||_60,000_
_0_
_0_
_60,000_
_0_
_0_
_0_
_0_
_0_
_0_
_0_
_0_
_18,266_
_2,904_
_0_
_21,170_
_2,628_
_0_
_0_
_2,628_
_6,065_
_0_
_0_
_6,065_
_6,654_
_0_
_0_
_6,654_
_0_
_0_
_0_
_0_
_0_
_0_
_0_
_0_
_0_
_0_
_0_
_0_
_0_
_0_
_0_
_0_
_0_
_0_
_0_
_0_| |||**_93,613_**
**_2,904_**
**_0_**
**_96,517_**| |||_2,763_
_15,534_
_0_
_18,297_| ||~~(7,819)~~
~~1,317~~
~~0~~
~~(6,502)~~
0
0
~~(7,819)~~
~~1,317~~
~~0~~
~~(6,502)~~
305,533
7,369
312,902
**297,714**
**8,686**
**0**
**306,400**|~~2,763~~
~~15,534~~
~~0~~
~~18,297~~
8,165
_(8,165)_
_0_| |||~~_10,928_~~
~~_7,369_~~
~~_0_~~
~~_18,297_~~
294,605
0
0
294,605| |||**_305,533_**
**_7,369_**
**_0_**
**_312,902_**| ## **Parochial Church Council - St Lawrence & St Peter. Charity Number 1184753** ## **INCOME** |1(a)
**Voluntary income**
Gift aided donations
Other donations
Tax Recoverable
Collections at services
Grants. Project 2022
Legacies
Other donations
**TOTAL**
1(b)
**Activities for generating income**
Fundraising
Other income
**TOTAL**
1(c)
**Income from investments**
Dividends and interest
**TOTAL**
1(d)
**Income from church activitites**
Fees
30% share of 54HPR Rental Income
Sequestration Receipts
**TOTAL**
**TOTAL**|**Unrestricted**
**Restricted**
**Endowment**
**TOTAL**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
**£**
58,676
**58,676**
820
**820**
14,048
**14,048**
2,084
**2,084**
**-**
**-**
**-**
**75,628**
**-**
**-**
**75,628**
3,117
**3,117**
56
**56**
**56**
**3,117**
**-**
**3,173**
7,166
**7,166**
**7,166**
**-**
**-**
**7,166**
3,549
**3,549**
5,722
**5,722**
335
**335**
**-**
**-**
**-**
**-**
**9,606**
**-**
**-**
**9,606**
**92,456**
**3,117**
**-**
**95,573**
**2024**|**2023**| |---|---|---| |||**_Unrestricted_**
**_Restricted_**
**_Endowment_**
**_TOTAL_**
**_Funds_**
**_Funds_**
**_Funds_**
**_£_**
**_£_**
**_£_**
**_£_**| |||61,942
**61,942**
1,972
7,369
**9,341**
15,531
**15,531**
4,457
**4,457**
11,069
**11,069**
**-**
**-**| |||**83,902**
**18,438**
**-**
**102,340**| |||**-**| |||**-**
**-**
**-**
**-**| |||5,172
**5,172**| |||**5,172**
**-**
**-**
**5,172**| |||2,991
**2,991**
4,311
**4,311**
**-**
**-**
**-**
**-**
**-**| |||**7,302**
**-**
**-**
**7,302**| |||| |||**96,376**
**18,438**
**-**
**114,814**| ## **EXPENSES** |**Note**
**Church activities**
2(a)
Parish share
2(b)
Salaries, wages and honoraria
Par 2(c)
Clergy & staff expenses
Rectory
Training
Other Vicar expenses
Off 2(d)
Church running expenses
Operations
Fabric *
Sequestration Costs
Insurance
Other
Bells Appeal Expenditure
Church utility bills
Church Repair Fund
Mission and evangelism
"Co2(e)
Church activity expenses
Children & Youth
Pastoral events
Choir/Licences/Music
Community Lunch/breakfast
2(f)
Mission giving and donations
2(g)
Rectory, Ivy Cottage & 54HPR
2(h)
Major repairs to church
2(i)
Major repairs to hall
2(j)
Major repairs to parsonage
2(k)
New building work
2(l)
**TOTAL***|**Unrestricted**
**Restricted**
**Endowment**
**TOTAL**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
**£**
**67,000**
**67,000**
**0**
**0**
**0**
**0**
**0**
**0**
2,605
**2,605**
6,982
**6,982**
435
**435**
7,545
**7,545**
376
**376**
1,800
**1,800**
6,204
**6,204**
**0**
**0**
**24,147**
**1,800**
**25,947**
**0**
581
**581**
222
**222**
**0**
**803**
**803**
**4,754**
**4,754**
3571
**3,571**
**0**
**0**
**0**
**0**
**0**
**100,275**
**1,800**
**0**
**102,075**
**2024**|**_2023_**| |---|---|---| |||**_Unrestricted_**
**_Restricted_**
**_Endowment_**
**_TOTAL_**
**_Funds_**
**_Funds_**
**_Funds_**
**_£_**
**_£_**
**_£_**
**_£_**| |||**60,000**
**_60,000_**
**0**
**_0_**
**_0_**
**_0_**
**_0_**
**_0_**
**_0_**
2,568
**_2,568_**
3,405
2,904
**_6,309_**
**_0_**
6,851
**_6,851_**
387
**_387_**
5,055
**_5,055_**
0
**_0_**
**_0_**
**18,266**
**2,904**
**_21,170_**
**_0_**
2,155
**_2,155_**
473
**_473_**
**_0_**
**2,628**
**_2,628_**
**6,065**
**_6,065_**
**6,654**
**_6,654_**
**_0_**
**_0_**
**_0_**
**_0_**
**_0_**| |||**_93,613_**
**_2,904_**
**_0_**
**_96,517_**| ## **Parochial Church Council - St Lawrence & St Peter. Charity Number 1184753** ## **Notes to the STATEMENT OF FINANCIAL ACTIVITIES** ~~**For twelve months ended 31 December 2024**~~ - 1 ## **Reserves policy** The PCC has determined that it would be wise, in case of unforseen expense or temporary reduction of income, to maintain reserves of unrestricted current assets, in sofar as these are within the PCC's control, at a level of between three and six months 'normal expenditure' excluding items of large, special or project expenditure. As at 31.12.2024 Net Current Assets were £209122.The Accounts have been prepared on a going concern basis ## **2(b) Staff Costs & Pension** There are no employees paid by the Parish and no National Insurance or pension payments. The Rector's stipend is paid by the Diocese of Rochester which accounts for all payroll aspects independently of the Parish. ## **2(d) Church Running Expenses** Governance: includes Independent Examiner's fee of £560 (for 2023 accounts) - **2(f) Missionary & Charitable Giving** **Grants of < £1,000 made in the period, for mission** 12 Organisations/charities £5,000 Monthly S/o to Compassion UK £192 - 3 **PCC Members - Expenses (Trustees and related parties)** Other than an occasional small honorarium paid to the organist or verger at services, no expenses have been paid to any trustee, committee member or related party, other than reimbursement of costs for items purchased on behalf of the parish and approved in writing by the Rec - 4 **Fixed and Restricted/Designated Assets** Ivy Cottage was given to St Lawrence Church in 1910 by Emily Maynard "for the benefit of the Rector and use by the church members" The Organ Fund is designated as such by the PCC and not specifically restricted by the donor. The Fellowship Afloat monies represent deposits lodged for an external event in Summer 2025 |4a|**Restricted funds**
Blink funds
Bells fund|**B/f**
7,369
0|**Income**
0
3,117|**Expenses**
**C/f**
0
7,369
-1,800
1,317| |---|---|---|---|---| |||~~7,369~~|~~3,117~~|~~-1,800~~
~~8,686~~| - 5 **Salaries/National Insurance/Pensi** ~~**on Scheme**~~ There are no employees paid by the Parish and no National Insurance or pension payments. The Rector's stipend is paid by the Diocese of Rochester which accounts for all payroll aspects independently of the Parish. - 6 **IndependentExamination Fee** The fee for Independent examination of these accounts will be £. , and will be paid in 2025 - 7 **Going concern** The trustees consider that there are no material uncertainties about the ability to continue as a going concern. - 8 **Trustees' remuneration and benefits** None of the Trustees have been paid any remuneration or received any other benefits from the charity (2022 none). - 9 **Related party transactions** - There have been no transactions with persons or entities that are closely connected to the charity or its trustees (2022 none). - 10 **Previous Years' Accruals** The opportunity has been taken to reverse some previous years' long standing accruals, which are no longer relevant. As a result the expenditure on these items shown in the accounts needs to be adjusted to show the actual sprend in 2024 |Rectory Costs
Ivy Cottage Costs
Charitable Giving (as above)|Accounts
Accrual reversal
Total Spend| |---|---| ||£0.00
£550.83
£550.83
£2,395.53
£1,016.49
£3,412.02
£4,753.90
£438.10
£5,192.00| ## 11 **Risks for 2025** a) The joint parishes have been in Interregnum since end July 2024. Although progress coninues regarding the appointment of a new incumbent, unwanted delay could impact finances. - b) After 25/30 years of rent-free accommodation for a now retired verger, IVY COTTAGE became vacant in July 2024. The house is in outdated/poor condition internally and is unsuitable as it stands for the rental market. £3400+ has already been spent on essential work and standing charges for utility services. A full evaluation of the options (in consultation with the Diocese) will be presented to the PCC in 2025. The likely costs of the required improvements are thought to be outside the scope of the present financial arrangements. - c) The 2025 Parish Offer has already been scaled back to a more realistic level, in an attempt to avoid a repetition of 2024's overall financial deficit. While there is no cause for precipitate action, it should be recognised that substantial regular donations are heavily dependent on an ageing generous minority. - d) £7369 is held (restricted) on behalf of the BLINK Charity. Discussions are taking place with the trustees to make arrangements for repatriation in quarter one 2025 INDEPEM)ENT EXAMINAIION REPRE8ENTAIION LETTER Fromtho PCC of St La*¥en￿ B￿bUMUgh and St PeterS(xrthtx)rouBh TD Zathary Rar￿den Ilhe lrnhpendent Exarrinerl Thg lo1￿￿n9 represetitatior￿ are on the bBBp5 of Bro￿ne5 of trttstee5. Staff Bnd volunt&ers wilh rdv4art know￿9£ and experience suth a5 we cOr￿lder nBc8ssary in connèelon your Irthndom 8x8¥fIr￿0￿ ol the Chaty's finanoal 8tatom>nts fDr thB yeai ended 31a De￿rrth[ 2024. All rapre5ent81ions are Thde to the tr£st ofour knowge 8nd bel8f. 1. As5•ts and linbillti The tharity has satisfactory Utlg to all awts 8ndthor8 ar8 rKJ wl cl8lnx or Oththo gs8*. have to you aH cL*rn5 in connethTr *ilh Ifdgqtion that have been, or are expec*ed to ts, recelwj and ¥u¢h n*tter6. as approwEte. have been propety o(Yxiunted for. and dlg¢kwd In. the flnondal stat8n*nts. 3. Laws And rogula¢k•n$ regulations whcA8¢ $houkJ ￿ cor￿der￿j wh*) Wep8￿npth0 Ilnant¥al slatemBrts. Related partiBs Re￿t￿l party relBdonshlps havo aw¥vwatdy arwj in fjnanr4lll gtatements. ￿ h￿* dL8¢k)8od to you 811 rglev*ftt infotrnabon concerniw such re￿￿onShipS a￿1 transKb*Yts afKI not aw8r¥ of any Olhar m*ttets %YIHch req￿[8 drxthure in order to mmpty ¥Yith lèJi51th aTha a¢fwnlrvJ stsndards requlremBnts. & Going concqrn Wo bo118v8 that the eharfvs flnandal ststsmtnts &h￿k1 bB wepBred on a gdng (x)ncem bB￿S Ihe giouTh that current BrKI luthre sourrks offundiryJ or support v411 be rNr8 than a(seq￿t• fortht ¢harfty'$ notyts. htre LY)ns￿ered a peri(xl of hvaP48 montrs frcm the date of appro¥81 of th8 fin8nd81 ¥tal8¢Ywits. W8 ￿lIeVe that no fijrthar d￿dOSure$ reloong to the ¢h8rftyb to cOn￿nU$ as 8 goiNJ (y)ncwn nowj to be in Ihe finanL¥BI ¥tatem8nts. Restrfd•J frJ¥vJs h8V8 ￿8￿ FyopBtty 8pk4led kn aLfLYthrK• th tha donDrs' reBtricNons. 7. Gfft aid &ft cl&irns have bgen prowty rrole in accordanc* ￿th FfiIRC ruw b8B•I on ar4vwrfatoty ¢fAI¥￿j *d declaratiors arn1 we are not•￿re ofary over or uThJ8rd*tTh. 8. Fraud We h8ve discbcG&I Brty In$tanc? of theft, fraud or nl88pprcrf)rfafjon of funth In the chatity that we L￿n are of In thtyB8r. Cash Stor￿j 88Gurety, (x>unted in tho wesenc* of￿0 ￿0p￿. bBnW pronwty. 9. Posty•4r•nd •v•Dts have d￿405¢d ony sigrtfic*nt post yoar 0Tr1 ovents to you th•t hav8 a on thB Onand*l ststern&nts at 31* Decemt*r2024. 10. TrnnSa¢￿D￿s l the trans8th0r￿ undartAken ty the ¢*arfty havo been prowrty refi8Gtsd and rocord8d tn Ih8 8Ctounl reo)rds. b818v8 81 Sn¢otM is com￿*￿e *¥J refithd in the accounts. Funds rBlllbrvJ to thurth aL*Mtias hehj In the nam8 oftho PCC. 11. Gr•nts •nd donatiC*ni All grents. don8Oorts and other Sncom8. tho rat01￿ of P& suL*BLI to S￿￿￿C or wndtions, hB¥e bo to you. Thwo have Lwn no breaLl￿ ofterThts or(xndthons in the Op￿iCatiOn ofsuch inwrr*. YourBfaithfulty SWJn8d on ￿ha￿01th8 PCC 24 ## **Independent Examiner’s Report to the Trustees of the** ## **Parochial Church Council of St Lawrence Bidborough and St Peter Southborough** I report to the trustees on my examination of the accounts of the above charity for the year ended 31[st] December 2024. ## **Responsibilities and basis of report** As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the charity’s accounts carried out under section 145 of t he 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner’s statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ## Signed: Zachary Ramsden Name: Zachary Ramsden FCA Chartered Accountant 63 Deakin Leas, Tonbridge, Kent TN9 2JT Date: 6[th] April 2025 **PAROCHIAL CHURCH COUNCIL St. Lawrence Bidborough & St. Peter Southborough** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **1. ACCOUNTING POLICIES** The PCC is a public benefit entity within the meaning of FRS102. The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs together with applicable accounting standards and the Statement of Recommended Practice as the applicable standard for charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (SORP(FRS102)). ## **ASSETS** **Consecrated and benefice property** In so far as consecrated and benefice property of any kind (i.e. the church and vicarage) is excluded from the statutory definition of 'charity' by Section 10(2) (a) and (c) of the Charities Act 2011 such assets are not classified in the financial statements. **Moveable church furnishings** These are capitalised at cost and depreciated over their useful economic life other than where insufficient cost information is available. In this case the item is not capitalised, but all items are included within the Church inventory. ## **Tangible fixed assets** Land and buildings No depreciation is provided on buildings as the current estimated residual value of the properties is not less than their carrying value and the remaining useful life of these assets currently exceeds 50 years, so that any depreciation charges would be immaterial. An impairment review is carried out on a regular basis and any resultant loss identified is included within expenditure for the year. (NB an impairment review is a formal check that the current value of a fixed asset such as a house or building is greater than the value shown in the balance sheet. ) Any expenditure on maintenance or improvements on fixed assets is written off as incurred. **Short term deposits** These are the cash held on deposit either with HSBC Bank, Lloyds Bank, Diocese, CCLA or at another bank. ## **FUNDS** **Unrestricted Funds** These represent the income funds of the PCC that are available for spending on the general purposes of the PCC. These include amounts designated by the PCC for fixed assets for its own use or for spending on a future project and which are not included as 'free reserves' as disclosed in the trustees' report. **Restricted Funds** These are income funds that must be spent on restricted purposes and details of the funds held and restrictions provided are shown in the notes to the accounts. **Endowment Funds** These are restricted funds that must be retained as trust capital either permanently or subject to a discretionary power to spend capital as income, and where the use of income or other benefit derived from the capital may be restricted or unrestricted. Full details of all their restrictions are shown in the notes of the accounts. **INCOMING RESOURCES** The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of church members. **Voluntary income and capital sources** Collections are recognised when received by or on behalf of the PCC. Planned giving under covenants or gift aid donations is recognised when received. Income tax recoverable on gift aid donations is recognised when the related income is recognised. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its entitlement and the likely amount due. Funds raised by church events and activities are accounted for gross, i.e. before any associated expenses. **Other ordinary income** Rental from the letting of church premises is recognised when the rental is due. Parochial fees due to the PCC for weddings, funerals etc. are accounted for when the event occurs. **Income from investments** Dividends and interest are accounted for when receivable. Tax recoverable on such income is recognised in the same accounting year. **RESOURCES USED Grants** Grants and donations are accounted for when paid, or when awarded, if that award creates a binding obligation on the PCC. **Activities directly related to the work of the Church** The Diocesan Parish Offer in respect of clergy and diocesan costs are accounted for when paid. Any additional amounts agreed by the PCC but not paid across as at 31st December are shown as creditors in the balance sheet. **DEBTORS** Amounts owing to the PCC at 31st December in respect of income tax fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectable. **Diocesan Church Repair Fund - Quinquennial Funds** The Diocesan Church Repair Fund consists of funds designated by the PCC for future repairs. A contribution rate into the fund is agreed to pay for these repairs. The repairs specified in the survey report are funded by the Diocesan Church Repair Fund. ## ##