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2023-12-31-accounts

Charity registration number 1185509

ST ANNE'S PAROCHIAL CHURCH COUNCIL

(INCLUDING ST MARY'S)

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'S) LEGAL AND ADMINISTRATIVE INFORMATION

Members of the council As listed on the Members report Charity number 1185509 Independent examiner Knill James LLP One Bell Lane Lewes East Sussex BN7 1JU Bankers Barclays Bank Plc 149 Church Road Hove East Sussex BN3 2AE

ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'S) CONTENTS

Page
Council Members report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 16

ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'S) COUNCIL MEMBERS REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

The council members present their annual report and financial statements for the year ended 31 December 2023.

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 Church Accounting Regulations 2006, 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)" (effective 1 January 2019).

Objectives and activities

The PCC is committed to enabling as many people as possible to worship at the church and to become part of our parish community at St Anne’s.

Then PCC maintains an overview of worship throughout the parish and makes suggestions on how services can involve the many groups that live within the parish. The services and worship put faith into practice through prayer, scripture, music and sacrament.

When planning activities for the year, the Churchwardens and the PCC have considered the Charity Commission guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion.

In particular, the PCC aims to enable ordinary people to live out their faith as part of our parish community through:

To facilitate this work it is important that the fabric of St Anne’s Church and that of St Mary’s Church Hall are both well maintained.

Achievements and performance

The building works for the new extension were completed in the first half of the year and the church is gaining the benefit of the new toilet and enhanced kitchen facilities. New windows were installed in St Mary’s Church Hall and repairs were made to it’s water mains.

Financial review

Unrestricted income for the year 2023 was £64,945 compared to £64,726 in 2022. Total unrestricted giving was £48,466 which was an increase of £2,949 on the previous year. The rent from letting St. Mary’s was £5,586, a decrease of £294 on the previous year. Unrestricted Gift Aid recoverable was £8,948, an increase of £196 compared to the previous year.

The restricted income for the year 2023 of £14,242, increased by £3,454. Income to the Music fund of £5,846 decreased from the previous year by £593.

Income from investments and interest-bearing accounts of £12,025, included in both the unrestricted and restricted funds, increased by £4,315 compared to the previous year.

Expenditure in the unrestricted fund for the year 2023 was £215,942. Expenditure for the Fabric fund for the year was £8,137. Within the two funds the cost of the Extension works was £100,277.

The St. Mary’s costs were £37,807 compared to £9,007 in the previous year. Costs of £27,918 were incurred for the completion of the renovation of the windows (added to the initial cost of £4,282 which was incurred in 2022). Expenditure for the Music fund was £3,312. The fund therefore showed a profit for the year of £2,534.

The result of the above-mentioned figures is that expenditure has exceeded income in 2023 by £148,204. These figures are before the inclusion of the revaluation of the investments. Their valuation as at 31st December 2023 has resulted in an increase of £18,529 compared to a decrease of £26,249 in 2022. The net result of all the above is that total funds as at 31st December 2023 are £389,385, a decrease of £129,675 compared to the previous year.

ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARYS) COUNCIL MEMBERS REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 ResaNes policy The weekty unrostricted eXP￿dityre amounted lo £2.230 in 2023 compared lo £1,709 in 2022. This caknlation exdudes the £lOO,000 th8twa5 taken from general funds for th¢ Exiension works. Resgrves policy It 15 PCC policy (rf pos¥iblg) to molntaln a balarw of unrestriced fiJnds whtch equates lo approximately six months unroslricted paymorrts to ￿Ver emergency situations that may arise from tsm¢ to tim6. For 2023 thi8 19 £57,971 {8gain. exduding the £100,000 mer￿.Oned above). Tho G•￿ra1 Fund in n¢)t• 12 of £98,141 in¢ludo$ fix•d ass8ts of £2,004 together Wrth debtors and c¥¢dstors of £6.383 and1£4.3401, respectively. Taking these figu￿3 out kave$ an amount of £94,094 of unrestii¢ted fiJnd5 whic more than matches the tafget at the year￿n￿. Structurni gO¥•man￿ and ma￿98M•￿t The parochial thurch ¢ounryl is a carty which is registered with the Charity Commisstcffl under the name 'The Parochial Church Councal ofthe Ecde8iasli¢al Paish of St Anne Le4V6S' Charity number 1185509. The trustees who served during the year and up to thè of $ignuro ofthe finanual $t•m¥nts w•r•: R8(#or. The Rwd N Brovm ITgrn1 of Offi¢• ends May 2024} K4r R Cock8 G Scott A&soLyat8 Vioar.. Tho Revd Canon J Egar (Torn1 of Offi¢• •nds May 20251 D Rogers IAr J Stevens Mrs J Prtce R88der Mr P Shears Wardens.. Mf A Pri￿ (eleced April 20231 Dr M-R Shears (elected April 2023) ITWM of Offic• *nd$ Mgy 20261 Mr S Kirkwood Mfs E Tfott Roprosent81?v8s on tha Daan8ry Syii(xl.' Mr P Shears Mrs E Trott Iresigngd April 2023) Coryoptsd by th• PCC: MrsAHodge Mi88 J Brown Mi83 J Money (April 2023, resigned June 2023) Elected M6mb6rn.' Dr I Carter (temi of Offi￿ explred Aprll 2023) Secretary to the PCC: MTS J Price The counal members r8PQrt was approved by the Board of co￿()[ Membw¥. On behalf of tho membor¥ of thg Councll Date.. l.y.l.2.0z..y......

ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'S) INDEPENDENT EXAMINER'S REPORT TO THE COUNCIL MEMBERS OF ST ANNE'S PAROCHIAL CHURCH COUNCIL

I report to the council members on my examination of the financial statements of St Anne's Parochial Church Council (the charity) for the year ended 31 December 2023.

Responsibilities and basis of report

As the council members of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

David W Martin FCA

Knill James LLP

One Bell Lane Lewes East Sussex BN7 1JU

Dated: 7 June 2024

ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'S) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted Restricted Restricted Total Total
funds funds funds
music general
2023 2023 2023 2023 2022
Notes £ £ £ £ £
Income from:
Donations and legacies 2 48,466 662 3,812 52,940 48,559
Charitable activities 3 8,785 5,184 253 14,222 19,245
Investments 4 7,694 - 4,331 12,025 7,710
Total income 64,945 5,846 8,396 79,187 75,514
Expenditure on:
Charitable activities 5 178,135 - 8,137 186,272 225,489
Other trading activities 37,807 3,312 - 41,119 12,591
Total expenditure 215,942 3,312 8,137 227,391 238,080
Net gains/(losses) on
investments 9 18,474 - 55 18,529 (26,249)
Net income/(expenditure) and
movement in funds (132,523) 2,534 314 (129,675) (188,815)
Reconciliation of funds:
Fund balances at 1 January 2023 450,472 15,974 52,614 519,060 707,875
Fund balances at 31 December
2023 317,949 18,508 52,928 389,385 519,060

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'S) BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Fixed assets Tangible assets Investments 11 12 2,004 215.807 3,399 197,278 217,811 200,677 Current assets Debtors Cash at bank and in hand 13 6.383 169,531 5,632 317.631 175,914 323.263 Cr￿lt01$.. amounts falling due within one year 14 4,340 4,880 Net current assets 171.574 318,383 Total assets less current liabllltles 389,385 519,060 The funds ofthe charity Restricted income funds- general Restricted income funds- music Unrestricted funds 15 16 52,928 18.508 317.949 52,614 75.974 450,472 389,385 519,060 The financial statements were approved by the PCC on ..and signed on its behalf by-. The Revd Ben Brown £14 PCC Chairnian

ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'S) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Charity information

St Anne's Parochial Church Council is committed to enabling as many people as possible to worship at the church and to become part of our parish community at St Anne's.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities 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 charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. 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 affiliation to another body, nor those which are informal gatherings of church members.

1.2 Going concern

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

1.3 Charitable funds

Unrestricted funds - general funds which can be used for PCC ordinary purposes.

Designated funds - monies set aside by the PCC out of unrestricted funds for specific future purposes or projects.

Restricted funds - a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest; b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaing unspent at the end of the year is carried forward as a balance on that fund.

1.4 Income

All income and endowments are accounted for without deduction for any costs of receivability, are recognised when there is evidence of entitlement, receipt is probable, and the amount can be measured reliably.

ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'S) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

Donations and legacies

Collections are recognised when received.

Planned giving receivable is recognised when there is evidence of entitlement, receipt is probable, and the amount accords with the Gift Aid declaration or other record of intention to donate.

Gift aid recovered is recognised when the income to which it is attached is recognised.

Grants and legacies are recognised when the formal offer in writing of the funding, is received by the PCC.

Charitable activities

Sales of magazines and study notes are recognised when received.

Rents from property are recognised in accordance with the rental agreements, when receipt is probable.

Other trading activities

Trading activities are where income is receivable in return for selling goods or providing services. Income from trading is recognised either: a - when received, or b - in the case of concerts, at the date of the event. Advance bookings are included in creditors until the concert has taken place.

Investment income

Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue.

All other income

All other income is recognised in accordance with the above overall policy.

Gains and losses on investments

Realised gains are recognised when the investments are sold. Unrealised gains and losses are accounted for on revaluation at 31 December.

1.5 Expenditure

Expenditure is accounted for on an accruals basis and accounted for gross.

Grants

Grants and donations are accounted for when paid over, or when awarded where the award creates a binding obligation on the PCC.

Church Activities

The diocesan parish contribution is accounted for on an annual basis, reflecting the allocation set by our Deanery. Any parish contribution unpaid at 31 December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the balance sheet.

ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'S) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Consecrated and beneficed property of any kind is excluded from the accounts by s.10(2) of the Charities Act 2011.

Movable church furnishing held by the Vicar and Churchwardens on special trust for the PCC and which require a faculty for disposal, are accounted as inalienable property unless consecrated. They are listed in the church's inventory which can be inspected but are not included in the financial statements. For other property acquired where there is insufficient cost information available, the cost of such assets are not stated in the financial statements.

All expenditure on consecrated or beneficed buildings and individual items costing under £1,000 are written off in the year they were incurred.

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:

Fixtures and fittings

10% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Investments are initially recognised at fair value which is normally the transaction price excluding transaction costs. Subsequently they are measured at fair value with changes recognised in 'net gains / (losses) on investments' in the SOFA of the shares are publicly traded or their fair value can otherwise be measured reliably.

1.8 Impairment of fixed assets

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date.

If there are indicators of impairment, the recoverable amount is estimated and compared to the carrying amount. Where the carrying amount exceeds it recoverable amount, an impairment loss is recognised in expenditure through the statement of financial activities.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity 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 charity's balance sheet when the charity 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.

ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'S) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

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 unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.

Derecognition of financial liabilities

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

In the application of the charity's accounting policies, management 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 are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Depreciation

Tangible fixed assets are depreciated over their useful lives taking into account residual values where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing the assets lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual values consider such things as future market conditions, the remaining life of the asset and projected disposal values.

2 Income from donations and legacies

Unrestricted Restricted Restricted Total Total
funds funds funds
music general
2023 2023 2023 2023 2022
£ £ £ £ £
Donations and gifts 48,466 662 3,812 52,940 48,559

ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'S) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

2
Income from donations and legacies
Unrestricted
Restricted
Restricted
funds
funds
funds
music
general
2023
2023
2023
£
£
£
Donations and gifts
Planned giving (excl. tax
refunds)
30,716
-
-
Planned giving (no tax refunds)
1,488
-
-
Loose cash collection
7,314
-
-
Donations/ appeals
-
-
3,219
Gift aid recoverable
8,948
662
593
48,466
662
3,812
3
Income from charitable activities
Unrestricted
Restricted
Restricted
funds
funds
funds
music
general
2023
2023
2023
£
£
£
Income from charitable activities
Rent from letting of St Mary's
5,586
-
-
Fund Raising
-
-
253
Fees for weddings & funerals
3,169
-
-
Fund raising
30
5,184
-
8,785
5,184
253
4
Income from investments		 Total
Total
2023
2022
£
£
(Continued)
30,716
29,577
1,488
5,339
7,314
3,967
3,219
-
10,203
9,676
52,940
48,559
Total
Total
2023
2022
£
£
5,586
13,084
253
185
3,169
5,976
5,214
-
14,222
19,245		 Total
Total
2023
2022
£
£
(Continued)
30,716
29,577
1,488
5,339
7,314
3,967
3,219
-
10,203
9,676
52,940
48,559
Total
Total
2023
2022
£
£
5,586
13,084
253
185
3,169
5,976
5,214
-
14,222
19,245
48,559
Total
2022
£
13,084
185
5,976
-
19,245
Unrestricted Restricted Total Total
funds funds
2023 2023 2023 2022
£ £ £ £
Income from unlisted investments 7,694 4,331 12,025 7,710

ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'S) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

5 Expenditure on charitable activities

Unrestricted
fund
Restricted
fund
Music fund
2023
2023
2023
£
£
£
Direct costs
Missionary and charitable giving
1,075
-
-
Ministry - diocesan parish contribution
44,904
-
-
Ministry - other clergy costs
4,178
-
-
Staff (services & weddings/funerals)
2,280
-
-
Upkeep of services
710
-
-
Church running costs
12,185
-
-
Church maintenance and repair
104,773
8,137
-
Upkeep of churchyard
3,574
-
-
Printing & stationery
1,165
-
-
Church hall running costs
37,807
-
-
Fund raising costs
-
-
3,312
212,651
8,137
3,312
Share of support and governance costs (see note 6)
Support
1,851
-
-
Governance
1,440
-
-
215,942
8,137
3,312
Analysis by fund
Unrestricted funds
215,942
-
-
Restricted funds - music
3,312
-
-
Restricted funds - general
8,137
-
-
227,391
-
-		 Total
2023
£
1,075
44,904
4,178
2,280
710
12,185
112,910
3,574
1,165
37,807
3,312
224,100
1,851
1,440
227,391
215,942
3,312
8,137
227,391		 Total
2022
£
2,760
43,030
5,053
2,320
793
11,849
150,031
3,459
1,182
9,007
3,584
233,068
3,506
1,506
238,080
188,866
3,584
45,630
238,080

6 Support costs allocated to activities

Bank charges
Depreciation
Governance costs
Analysed between:
Unrestricted fund		 2023
£
457
1,394
1,440
3,291
3,291		 2022
£
501
3,005
1,506
5,012
5,012

ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'S) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

7 Council Members

None of the council members (or any persons connected with them) received any remuneration during the year, but 8 of them were reimbursed a total of £1,741 in respect of costs incurred on behalf of the PCC. (2022 - 8 were reimbursed £2,120).

8 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
Total - -

During the year the PCC employed an organist on a part time basis for a total of £2,280 (2022 - £2,320)

There were no employees whose annual remuneration was more than £60,000.

9 Gains and losses on investments

Unrestricted Restricted Total Total
funds funds
2023 2023 2023 2022
Gains/(losses) arising on: £ £ £ £
Revaluation of investments 18,474 55 18,529 (26,249)

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'S) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

11 Tangible fixed assets
Fixtures and
fittings
£
Cost
At 1 January 2023 37,411
At 31 December 2023 37,411
Depreciation and impairment
At 1 January 2023 34,012
Depreciation charged in the year 1,395
At 31 December 2023 35,407
Carrying amount
At 31 December 2023 2,004
At 31 December 2022 3,399
12 Fixed asset investments
Unlisted
investments
£
Cost or valuation
At 1 January 2023 197,278
Valuation changes 18,529
At 31 December 2023 215,807
Carrying amount
At 31 December 2023 215,807
At 31 December 2022 197,278
13 Debtors
2023 2022
Amounts falling due within one year: £ £
Trade debtors 6,383 5,632

ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'S) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

14 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 4,340 4,880

15 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 January Incoming Resources Gains and Gains and At 31
2023 resources expended losses December
2023
£ £ £ £ £
Friends of St Anne's Fabric fund 51,699 8,396 (8,137) - 51,958
Chancel Trust 915 - - 55 970
52,614 8,396 (8,137) 55 52,928
Previous year: At 1 January Incoming Resources Gains and At 31
2022 resources expended losses December
2022
£ £ £ £ £
Friends of St Anne's Fabric fund 92,980 4,349 (45,630) - 51,699
Chancel Trust 965 - - (50) 915
93,945 4,349 (45,630) (50) 52,614

16 Restricted funds - music

These are restricted funds which are material to the charity's activities.

At 1 January Incoming Resources At 31
2023 resources expended December
2023
£ £ £ £
Music fund 15,974 5,846 (3,312) 18,508
Previous year: At 1 January Incoming Resources At 31
2022 resources expended December
2022
£ £ £ £
Music Fund 13,119 6,439 (3,584) 15,974

ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'S) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

17 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
General fund
Incumbent's discrentionary fund
Church Hall (designated)
Clergy House (designated)
Church Tower Room
(designated)
Previous year:
At 1
General fund
Incumbent's discrentionary fund
Church Hall (designated)
Clergy House (designated)
Church Tower Room
(designated)
General funds		 January
2023
Incoming
resources
Resources
expended
Gains and
losses
At 31
December
2023
£
£
£
£
£
249,248
64,115
(215,222)
-
98,141
4,861
830
(720)
-
4,971
63,929
-
-
6,014
69,943
111,773
-
-
10,516
122,289
20,661
-
-
1,944
22,605
450,472
64,945
(215,942)
18,474
317,949
January
2022
Incoming
resources
Resources
expended
Gains and
losses
At 31
December
2022
£
£
£
£
£
373,195
61,975
(185,922)
-
249,248
5,054
2,751
(2,944)
-
4,861
72,458
-
-
8,529
80,987
126,686
-
-
14,913
141,599
23,418
-
-
2,757
26,175
-
-
-
(52,398)
(52,398)
600,811
64,726
(188,866)
(26,199)
450,472

The Church Halland Clergy House designated funds represent the proceeds from the sale of properties in previous years. The funds are invested with the CBF.

In previous years, funds were raised for the provision of a Church Tower room. These were recorded as restricted funds. Following subsequent improvements to the church, there was no longer a requirement for a Church Tower room and the PCC, having obtained permission from the surviving donors and Church House, agreed to reclassify these funds as unrestricted funds. The designated funds are held by the PCC to finance routine future maintenance costs to the extent that these cannot be met by unrestricted donations.

The restricted fabric fund was the result of a bequest by Mr King-Smith, to which the Church Roof + Tower fund was added in 2008 to maintain and improve the fabric of the church. The funds are invested with the CBF. The Chancel Trust fund exists as a result of a bequest in previous years to maintain the Chancel. The fund is invested with the CBF. Funds have been received during the year explicitly requested to be used at the discretion of the incumbent.

ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'S) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

18 Analysis of net assets between funds

Unrestricted
Restricted
Restricted
funds
funds
funds
music
general
2023
2023
2023
£
£
£
Fund balances at 31 December 2023 are represented by:
Tangible assets
2,004
-
-
Investments
214,837
-
970
Current assets/(liabilities)
101,108
18,508
51,958
317,949
18,508
52,928
Unrestricted
Restricted
Restricted
funds
funds
funds
music
general
2022
2022
2022
£
£
£
Fund balances at 31 December 2022 are represented by:
Tangible assets
3,399
-
-
Investments
196,363
-
915
Current assets/(liabilities)
250,710
15,974
51,699
450,472
15,974
52,614		 Total
2023
£
2,004
215,807
171,574
389,385
Total
2022
£
3,399
197,278
318,383
519,060

19 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).