Charlty Registratlon No. IIBS509 srANNE'S PAROCHIALCHURCH COUNCIL IINCWDING ST MARY'S) ANNUAL REPORT AND UNAUDITED FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 BUSINESS ADVISORS & 14¢COVNTAIITS TC Group One Bell Lane Lewes East Sussex BN7 IIU
ST ANNE'S PAROCHIAL CHURCH COUNCIL IINCLUDING S7 MARY'SI CONTENTS Page Company information Council Members Teport Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 8-21
ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'S) COMPANY INFORMATION Counc51 Members As listed on the Council Members Repgrt Charity number 1185509 Indèpendent examiner David Martin FCA TC Group One Bell Lane Lewes East Su55ex BN7 IJU Bankers Barclays Bank PIC 149 Church Road Hove East Sussex BN3 2AE
ST ANNE'S PAROCHIAL CHURCH COUNCIL IINCWDING ST MARY'SI COUNCIL MEMBERS REPORT FOR ThE YEAR ENDED 31 DECEMBER2024 The touncil rnembers present their annual report and financial staternents for the year ended 31 Decembei 2024. The financial statements have been prepared iri accordance with the accounting policies set out in noie I to the financial statements and ctrmply with the Church Accounting Regulations 2006, the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to char1ties preparin8 their accounts in accordance with the Financial Reporting Standard èpplicable in the UK and Republic of Ireland IFRS 1021" leffective l January 20191. Objectives and actlvities The PCC 15 committed to enabling as many people 35 possible to worship at the church and to become part of our parish community at 5t Anne's. Then PCC maintains èn overview of worship throughout the parish and makes suggestions on how services can involve the many groups that live within the parish. The swvices and worship pui faith Into practice through prayer, scripture. music and sacrament. When planning activities lor the year, the Churchwardens and the PCC have considered the Charity Commission Euidance on public benefit and, in particular, the specific guidance on charitie5 for the advancement ol religion. In particular, the PCC aims to enable ordinary people to live out their faith as part of our parish community through.. worship and prayer learning Bbout the gospe1 developing their knowledge and trust in Jesus PIOVlsion of pastoral care for people livinÈ In the parish missionary and outreach work To facilitate this work ir is important that thè f3bTiC of St Anne's Church and that of St Mary's Church Hall are boih well maintained. Achievements and performance The new extension kitchen and toilet facilitie5 have been in full operation and are provinÈ a boon to all churchgoers and club5 and Societies who make use of the church. The Quinquennial Teport issued in 2023 recommended substantial repairs, particularly to the roof and irs environs. A projèct was mounted in the second half of the year and was largely complete by the year-end.
ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'S) COUNCIL MEMBERS REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Financial review Unrestricted income for the year 2024 was £554,222 compared to £64.945 in 2023. It included a very generous legacy of £471,840. Total unrestricted giving was £533,678. The rent frorn letting St. Mary's was £6,816, an increase of £1.230 on the previous year. Unrestricted Gift Aid rettjverable was £10,067. an increase of £1,119 compared to the previous year. The restricted income for the year 2024 of £14.438, increased by £196. Income to the Music fund of £6,117 increased from the previous year by £271. Income from Investments and interest-bearing accounts of £14.614, included in both the unrestricted and restricted funds, increased by £2,589 compared to the previous year. Expenditure in the unrestricted fund for the year 2024 was £87,463. Expenditure for the Fabric fund for the year Was £131,269. The St. Mary's costs were £5.508 compared to £37.807 in the previous year when the windows were renovated. Expenditure for the Music fund was £4.303. The fund therefore showèd a profit for the year of £1,814. The result of the above-mentioned figures is that income has exceeded expenditure in 2024 by £345,624. These figure5 are before the inclusion of the revaluation of the investments. Their valuation as at 3111 DecembeT 2024 has resulted in an increase of £4,955 compared to an increase of £18,529 in 2023. The net result of all the above is that total funds as at 315t December 2024 are E739.966. an increase of E350,581 compared to the previous year. The weekly unrestricted expenditure amounled to £1,682 in 2024 compared to £2,230 in 2023. This calculation exclude5 the £IOO,000 that was taken from general funds for each of the Extension and Quinquennial works. Reserves pgllcy It Is PCC policy lif p0s5iblel to maintain a balance of unrestricted funds which equates to approximately six months unrestrirted payments to cover emergency situations that may arise from tirne to time. FOT 2024 this is £43,732 (again. excluding the £IOO,000 mentioned abovel. The General Fund in note 12 of £464,905 includes fixed assets of £610 together with debtors and ¢reditors of £5,822 and1£3,0151, respectively. Taking these figures out leaves an amount of £461,488 of unfe5tricted funds which more than matches the target at the year-end. Structure. governance and management The parochial church ¢oun¢il is a charity which 15 re81Stered with the Charity CommissK*n under the name -The Parochial Church Council of the Ecclesiastical Parish of St Anne Lewes- with charity number 1185509. The trustee5 who served dur¢n8 the year and up to the date of signature of the financial statements were..
sr ANNE'S PAROCHIAL CHURCH COUNCIL IINCWDING ST MARY'S) COVNCIL MEMBERS AEPORY ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER2024 Rector.. The Rev'd 8. Brown Slecte(l Mernber5". (Term ol Offl¢e ends Aprll 1024 Re-elerted APCM Aprll 20241 Mr R. Cocks Mrs G. Scott A5SOCiOte Vicor.. The Rev'd Canon J. E8ar (retired July 20241 Reoder.. Mr P. Shears (Term ol Office ends April 202SI Mrs D. Rogers Mr l. Stevens Mrs ), Price Wordens.. Mr A. Price lelected April 20241 Dr M-R. Shears lelected April 20241 (Term of Office ends May 20261 Mr S. Kirkwood Mr5 E. Trott RepresentGtive5 on the Deonery 5yn(O.. Mr P. Shear5 Co-opted by the PCC.. Mrs A. Hodge Mlss W. Grisham Setretsry to the PCC.. Mrs l. Priie The council rnembers report was approved by the Boatd of Council Member5. (kn behalf of the members ot tho Councll Date..
5T ANNE'S PAROCHIAL CHURCH COUNCIL IINCWDING 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 finanaal statements of St Anne's Parochial Church Council Ithe charity) for the yeaT ended 31 December 2024. Responsibilities and basls of report As the council members of the charity you are Te5pon5ible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Actl. I report in respect of my examination of the charitv'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 14515llbl of the 2011 Act. Independent examlner's statement Since the charity's gross income exceeded £250.WO your examlner must be a member of a body listed in Section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institue of Charted Accountants in En8land and Wale5, which is one of the listed bodies. Your attention is drawn to the fact that the charlty has piepared financièl 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 IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice i55ued on l Apfil 2005 which is referred to in the extant regulations but has now been withdrawn. l 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 I January 2015. I have completed my exarnination. I confirm that no matters have come to my attention in tonnection with the examination giving me cause to believe that in any matèrial respect.. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act,. or the financial statèments do not a¢¢ord with those records,. or the financial statements do not comply wilh the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reportsl Regulations 2008 other than any requirement that the account$ 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 understsnding of the finanaal statements to be reached. David M3rtirt FCA Dated.. TC Group One Bell Lane Lewes East sussex BN7 IJU
ST ANNE'5 PAROCHIALCHURCH COUNCIL IINCWDING ST MARY'S) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 unrèstricted funds Restricted funds music Restricted funds gèneral 2024 Total Total 2024 2024 2024 2023 Notes Income from.. Donations and legacies Charitable activitios Investments 533.678 10,009 10,535 536 1,590 2,652 4,079 535,804 18.242 14,614 52,940 14,222 12,025 5.581 Total income 554,222 6.117 8,321 568.660 79.187 Expenditure on.. Charitable activities Oiher trading activities 82,274 5.508 131,269 213,543 9,811 186,272 41,119 4,303 Total expenditure 87.782 4,303 131,269 223,354 227.391 Net gains on Investrnents 4.917 38 4,955 18.529 Net incomellexpenditurel 471,357 1,814 1122.9101 350.261 1129,6751 Transfers between funds 1100,0001 loo,000 Net movement in funds 371.357 1,814 122.9101 350,261 1129,6751 Retonclliation of ftTnds: Fund balances at l January 2024 317,949 18.S08 52.928 389,38S 519,060 Fund balances at 31 December 2024 689,306 20.322 30,018 739.646 389,385 The statement of financial activities includes all gains and losse5 recognised In the year. All income and expenditufe derive from continuing activities.
ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING sr MARY'51 8ALANCE SHEET A5AT310ECEMBER 2024 2024 20Z3 Notes Flxed assets Trngible assèts Investments li 12 610 220,762 2,004 215,807 221,372 217,811 Current ass•ts Oebtors Cash at bank and In hand 5,822 515.787 6,383 169.531 521.609 175,914 Qeditors: amount5 fallln8 due wlthln one year 3,335 4.340 Net turrent asset5 518.274 171,574 Total assets less current liabilltyes 739.646 389,385 The fund5 of th• thailty Restricted income funds- general Restricted income funds- muslc Unrestricted funds 15 16 30.018 20,322 689,306 52,928 18,508 317,949 739,646 389,385 The flnancial statements were approved by the PCC on .. . nd signed Dn its behalf by.. The Revd Ben Brown E b-IIc)If PCC Chalmlan
ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARV'SI NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policies Charity informatlon St Anne'5 Parochial Church Council is committed to enablin8 as many people as possible to worship at the church and to become part of our parish community at St Anne's. 1.1 Accountlng convention The financial statements have been prepared in accordance with the charitV'5 governing document. the Charities Act 2011. FRS 102 'The Financial Reporting Standard applicable In the UK and Republic of Ireland~ I"FRS 102~1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommènded Practice app15cable to charities preparing their account5 in accordance with the Financial Reptsrting Standard applicable In the UK and Republic of Ireland IFRS IQ21" (effective l January 20191. The tharity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the wovisions in the SORP lor charities not to prepaie a Statement of Cash Flows. The financial stalements have departed from the Charitie5 (Accounts and Reportsl Regulation5 2008 only to the eent required to provide a true and fair view. This departure has involved following the Statement of Recommended Praciice for charities applyin8 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 staternent5 are prepared in sterling, which 15 the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been piepared under the historical cost convention. The financial statements include all transactions, assets and liabilities for which ihe 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 conr At the time of approving the financial statemènrs, the counol members have a reasonable expectation that the charity has adequate resources to continue in operational existence for the loreseeable future. Thus the council members continue to adopt the gotng concern basis of accotsnting 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 - al income frorn trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest,. bl 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 lor which they were given. Any balance remains unspent at the end of the year is carried forward as a balance on that fund.
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCWDING ST MAAY'SI NOTES TO THE FINANCIAL STATEMENTS ICONTINUED} FOR ThE YEAR ENDED 31 DECEMBER2024 Ac¢ountlng poll¢les (Continuedl 1.4 In¢ome All income and endowments are accounted for without deduction for any cost5 of receivability, are recognised when there is evidence of entitlement, receipt 15 probable, and the amount can be measured Tdiablv. Donations and legacles Collertlons are recognised when received. Planned gwlnq receivable is recognised when there Is evldence of entltlement, receipt is probable, and the amount accords with the Gift Aid declaration or other record of intention to donate. 61ft ald recovered is recognised when the income to which it is attached is reco&niseil. Gn7nts ond legacles are recognised when the formal offer in writin8 of the funding, 15 received by the PCC. Charltable actlvltles 5ules of mgqazines and study notes are recognised when te1ved. Rentsfmm property are recognlsed in a¢¢otdance with the rental aBTeements, when ieceipt is probable. other tradlng adivities Trading artivitie5 are where income is receivable in return for selling goods or providing Services. Income from trading is recognised either.. a when reeewed, or b - in thè case of concerts, at the date of the event. Advance bookin8s are included in Creditors until the conrI has taken place. Investment Income Dividends are accounted for when due and payable. Interest entitlements are actounted for as they ac¢rue. All other Income All other income is re¢o8ni5ed in accordance with the above overall policy. Gains and 1055e5 on investments Realised gain5 are recognised when the invesrments are sold. Unrealised gains and losses are accounted for on revaluation at 31 December.
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCWDING ST MARY'SI NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER 2024 Accounting pollcles Icontinuetll l.S Expenditure Expenditure is accounted for on an accruals basis and accounted for gross. Grants Grants and donation5 are accounted for when paid over, or when 3warded where the èWaTd cieates a binding obligation on the PCC. Churth Activities The diocesan parish contribution is accounted for on an annual basis, fleeting the allocation set by our Deanery. Any parish contribution unpaid at 31 December is provided for in these accounts as an operational Ithough not a legall liability and 15 Show a5 a creditor in the balance sheet. 1.6 Tanglble fixed a55ets Consecrated and beneficed property of any kind is excluded from the accounts by 5.10121 of the Charities Act 2011. Movable church furnishing held by the Vicèr 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 nor included in the fin3nci31 statements. For other property acquired where there is insufficient cosi Information available. the cost gf such h$5etS are not stèted in the financial statements. All expenditure on consecrated or beneftced build¢n85 and individual items costing under £1,000 are written off in rhe year they were incurred. Depreciation 15 recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following b85es'. Fixtuies and littin85 IO% stra5ght 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 15 recognised in the statement of financial activities. 1.7 Flxed 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 recognssed in 'net gains / Ilossesl on investments, In the SOFA of the Shares are pub5icly traded or their fair value can otherwise be measured reliably. 1.8 5mpairment of fixed assets Assets not rnea5ured at lair value are reviewed for any indication that the asset may be impaired at each balènce sheet date. If there are Indicato of Impairment, the recoverable amount is estimated and compared to the carrying amount. Where the carrying amount exceed5 It recoverable amount, an impairment loss is recognised in expendituie through the statement ol financial activities. 10-
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCWDING ST MARY'S) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR ThTE YEAR ENDE031 DECEMBER2024 Accountln8 pollcles (Continued) 1.9 Cash and cash equlvalènts Cash and cash equivalents include ta5h in hand, deposit5 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 borrowin8s in current liabilities. 1.10 Finanaal instruments The charity has elected to apply the provisions of Section 11 'Basic Financial InstnJments' ènd Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instrument5. Financlal instruments are reco8nised in the charity's balance sheet when the charity becomes party to the ¢ontTactual provisions of the instrument. Financial assets and liabllities are offset, with the net arnounts presented in the financial 5tatement5, when there is a legally enforcÈable right to Set off the reco8nised amounts and there is an intention to settle on a net basis OT to reali5e the asset and Settle the liability simultaneously. Bu5icAinqnciol ussets Basic financial assets, which Include debtors and ¢ash and bank balance5, are initially measured at transaction price includin8 transaction costs and are Subsequently carried at amortised cost using the effèctive 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. Fln3n¢lal assets classified as re1vable within one year are not amortised. 8t7sicAinan(iolliobilities Basic finantial lièbilities, includin8 creditors and bank loan5 are initially reco8nised 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 vear or less. If not. they are presentèd a5 ntsn-turrent liabilities. TTade creditor5 are recognised initially at transactiort price and subsequently measured at amortised cost U5in8 the effective interest method. Dere¢ognition oAfinon¢ial liabilities Financial liabilities are derecognised when the charitvs contractual obligations expire or are dls¢har8ed or cancelled.
ST ANNE'S PAROCHIAL CHURCH COUNCIL IINCLUDING ST MARY'SI NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER2024 Accounting policies {Continuedl 1.11 Judgements and key source5 of estlmation uncertainty In the application of the charity's accounting policies, management are required to make judgements, estimates and assurnptions about the carrying amount of assets and liabilities that are not readily apparent from other source5. The estimates and associated are based on historical experience and tsther factors that are considered to be relevant. Actual results may differ from these estimates. Depreciation Tangible fixed asset5 are depreaated over rheir useful lives taking into accouf)t residu31 values where appropriate. The actual lives of the assets and Tesidual values are assessed annually and may vary depending on a number of factors. In re-assessing the a%set5 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. Income from donatlOn5 and legacies Unrestrirted funds Restricted funds music Restric¢ed funds general 2024 Total Total 2024 2024 2024 2023 Donations and gifts Le8acies receivable 56,338 477,340 536 1.590 58,464 477,340 52,940 533,678 536 1.590 535,804 52,940 Donations and gifts Planned giving (excl. tax relundsl Planned giving Ino tax refunds) Loose cash collection Don3tions/ appea15 Gift aid recoverable 33,356 4.466 8.449 33,356 4,466 8,449 1.439 10,754 30.716 1,488 7.314 3,219 10,203 1,439 151 10,067 536 56.338 536 1,59 58,464 52.940
sr ANNE'5 PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'SI NOTES TO THE FINANCIAL STATEMENT5 ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER 2024 Income from charltable actlvltles Unrestrlded funds Re51ricted funds Restrlcted funds general 2024 Total Total mu51C 2024 2024 2024 2023 Income from charltable actlvltles Rent from lettin8 of St Mary's Bookstall sales Fees for weddlngs & funera15 Fund raising 6,816 6,816 2,652 3,193 5,581 5,586 253 3.169 5,214 2.652 3,193 5,581 10.009 5.581 2.652 18,242 14,222 Income from InvtMentS Unrestricted Restrlcted funds funds 2024 2024 Total Total 2024 2023 Income from unlted investments 10.535 4.079 14,614 12,025 13-
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCLUDING ST MARY'SI NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 OECEMBER 2024 Expenditure on tharitable attivities Unrestricted Restrirted Music fund fund fund Total Total 2024 2024 2024 2024 2023 Direct costs Missionary and charitable giving Ministry- diocesan parish contribution Ministry- other clergy costs Stafflseivices & weddings/funeralsl UpkÈÈp o15ervices Church running cost5 Church maintenance and repair Upkeep ol churchyard Printing & stationery Church hall running c05t5 Fund raising costs 1.000 45,770 4,690 1,720 569 1,075 44,904 4,178 2,280 710 12,185 112,910 3,574 1,165 37,807 3,312 4S,770 4,690 1.720 569 10,559 140.702 3,9)3 1,218 5.508 4,303 10.559 9,433 3.903 1.218 5,508 131,269 4,303 84,370 131,269 4.303 219.942 224,100 Share of support and governance costs Isee note 61 Support 1,792 Governance 1,620 1.792 1,620 1,851 1.440 87,782 131.269 4.303 223,354 227.391 Analy515 by fund Unrestricted funds Restricted funds music Restricted funds - general 87.782 87,782 4,303 31,269 178,449 3.312 108,137 4,303 31.269 87,782 31,269 4.303 123,354 289,898 14-
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCWDING ST MARY'S) NOTES TO THE FINANCIAL STATEMENYS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Support costs allocated to actlvltles 2024 2023 Bank charges Depreciation Governante costs 398 457 1,394 1,620 1,394 1.440 3,412 3,291 Analy5ed between.. Unrestricted fund 3.412 3,291 Council Members None of the council members lor any persons connected wlth them) re¢elved any remuneration during the year, but 8 of them were reimbursed a total of £2,739 in respect of costs incurred on behalf of the PCC. 12023- 8 were reirnbursed £1,741). Employee5 The avera8e monthly number of employees during the year was.. 2024 Number 2023 Number Total During the year the PCC employed two organists on a part time basis for a total of £1.72012023- £2,280). There were no employees whose annual remuneration was more than £60.tMJO. Galns and losses on Investments Unrestrlrted Restrlcted funds funds 2024 2024 Total Total 2024 2023 Galnslllossesl arising on.. Revaluation of investments 4.917 38 4,955 18,529 10 Taxatlon The charlty is exempt from taxation on its actNities because all its income is applied for charitable purposes. 15-
ST ANNE'S PAROCHIALCHURCH COUNCIL (INCLUDING ST MARY'S) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 11 Tangible fixed asse15 Fixtur5 ad tittings Cost At l January 2024 37.411 At 31 December 2024 37.411 Depreciation and impairment At l January 2024 Depreciation char8ed in the year 35,407 1,394 At 31 December 2024 36.801 C3rrying amount At 31 December 2024 610 At 31 December 2023 2.004 12 Fixed asset Investments Unlisted investments Cost or valuation At l January 2024 Valuation chan8e5 215,807 4,955 At 31 December 2024 220,762 Carrying amount At 31 December 2024 220,762 At 31 December 2023 215,807 13 Debtors 2024 2023 Amounts falling due within one year: Trade debtors 5.822 6,383 16
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCWDING ST MARY'S) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 14 Credltor5.' amounts falllng due wlthln one yèar 2024 2023 Trade creditors 3,335 15 Restrirted funds The restricted funds of the charity comprlse the unexpended balan$ of donations and grants held on trust subject to speclflc condltlons by donors as to how they may be used. At l January 2024 Incomin8 resources Resources expended Translers Galns and losses At31 December 2024 Friends of St Anne's Fabric fund Chan1 Trust 51,958 970 8,321 1131,2691 100,000 29,010 1,008 38 52,928 8,321 1131,2691 loo,000 38 30,018 Previous year.. At l January 2013 Incoming resources Resources expended Transfers Gains and losses At31 December 2023 Iiw.0001 ioo,coo Friends of St Anne's Fabric fund hancel Trust 51,699 915 8,396 18,1371 51,958 970 55 52,614 8,396 108,137 loo,0 ss 52,928 17-
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCLUDING ST MARY'S) NOTESTOTHE FINANCIALSTATEMENTS ICONnNUEDI FOR THE YEAR ENDED 31 DECEMBER2024 16 Restricted funds- music These ale restricted funds which are material to the charity's activities. At l January 2024 Incoming resources Resources expended At31 December 2024 Music fund 18,508 6,117 14,3031 20,322 18.508 6.117 14.3031 20,322 Previous year.. At l January 2023 Incoming resources Resource5 expended At31 December 2023 Music fund 15,974 5.846 13,3121 18.508 18-
ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'SI NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER2024 17 Unrestricted fund5 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 unrestrirted fvnds by the trustees for specific purposes. At l January 2024 Incoming resources Resources expended Transfers Galns and losses At31 December 2024 General fund Incumbent's discrentionary fund Church Hall Idesignatedl Clergy House Idesignatedl Church Tower Room Idesignatedl General fvnds 98.141 553,440 186,6761 IIoD,0001 464,905 4.971 782 17861 4,967 69,943 1,601 71,544 122,289 2,799 125,088 22,605 517 23,122 13201 13201 317.949 554,222 187,7821 IICM),0001 4,917 689,306 Prevlous ar.. At l January 2023 Incoming resources Resource5 expended Transfers Gains and losses At31 Oecember 2023 General fund Incurnbent's discrentionary fund Church Hall Idesignatedl Clergy House Idesignatedl Chur¢h Tower Room Idesignatedl General funds 249.248 64,115 1215.2221 98,141 4,861 830 17201 4,971 63,929 6.014 69,943 111.773 10.516 122,289 20,661 1.944 22,605 loo.000 li00,0) 450,472 64,945 115,942 iioo,0001 18,474 317,949 19-
ST ANNE'S PAROCHIAL CHURCH COUNCIL IINCLUDING ST MARY'SI NOTES TO THE FINANCIAL STATEMENT5 ICONTINUEDI FOR THE YEAR EJVDED 31 DECEMBER 2024 17 Unrestrkted funds Icontinuedl The Church Halland Clergy House designated funds represenl 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. Followin8 subiequent improvements to the church, there was no longer a requirement lor a Church Tower room and the PCC, having obtained permission from the surviving donors and Church House, agreed to reclassify these funds as nStricted funds. The designated funds are held by the PCC to finance routine future maintenance costs to the extent that thÈse cannot be met by unrestricted donation5. 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 irnprove the fabric of the church. The funds are invested wtth the CBF. The Chancel Trust fund exists as a resvlt of a bequest in previous yeafs to maintain the Chancel. The fund is invested wilh the CBF. Funds have been received during the yèar explicitly requested to be used at the discretbon of the incumbent. 18 Analysis of net assets between funds Unrestritted Restricted Restricted Total funds funds funds musi general 2024 2024 2024 2024 Fund balances at 31 December 2024 are represented by. rangible assets Investments 610 219.754 468.942 610 220,762 518,274 1,008 29.010 Current asset511liabilitie51 20.322 689.306 20,322 30,018 739.646 Unrestricted funds Restricted funds musie Restricted funds general 1023 Total 2023 2013 2023 Fund balantes at 31 December 2023 a represented bv: Tangible assets 2.004 Investments 214,837 Current asset5111iabilitiesl 101,108 2,004 215,807 171,574 970 18.508 51.958 317,949 18,508 52,928 389,385 -20-
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCWDING ST MARY'SI NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER2024 19 Related partytran5aCtions There were no disclosable related party transactions durin8 the year12023- none). 21
Charlty Registratlon No. IIBS509 srANNE'S PAROCHIALCHURCH COUNCIL IINCWDING ST MARY'S) ANNUAL REPORT AND UNAUDITED FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 BUSINESS ADVISORS & 14¢COVNTAIITS TC Group One Bell Lane Lewes East Sussex BN7 IIU
ST ANNE'S PAROCHIAL CHURCH COUNCIL IINCLUDING S7 MARY'SI CONTENTS Page Company information Council Members Teport Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 8-21
ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'S) COMPANY INFORMATION Counc51 Members As listed on the Council Members Repgrt Charity number 1185509 Indèpendent examiner David Martin FCA TC Group One Bell Lane Lewes East Su55ex BN7 IJU Bankers Barclays Bank PIC 149 Church Road Hove East Sussex BN3 2AE
ST ANNE'S PAROCHIAL CHURCH COUNCIL IINCWDING ST MARY'SI COUNCIL MEMBERS REPORT FOR ThE YEAR ENDED 31 DECEMBER2024 The touncil rnembers present their annual report and financial staternents for the year ended 31 Decembei 2024. The financial statements have been prepared iri accordance with the accounting policies set out in noie I to the financial statements and ctrmply with the Church Accounting Regulations 2006, the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to char1ties preparin8 their accounts in accordance with the Financial Reporting Standard èpplicable in the UK and Republic of Ireland IFRS 1021" leffective l January 20191. Objectives and actlvities The PCC 15 committed to enabling as many people 35 possible to worship at the church and to become part of our parish community at 5t Anne's. Then PCC maintains èn overview of worship throughout the parish and makes suggestions on how services can involve the many groups that live within the parish. The swvices and worship pui faith Into practice through prayer, scripture. music and sacrament. When planning activities lor the year, the Churchwardens and the PCC have considered the Charity Commission Euidance on public benefit and, in particular, the specific guidance on charitie5 for the advancement ol religion. In particular, the PCC aims to enable ordinary people to live out their faith as part of our parish community through.. worship and prayer learning Bbout the gospe1 developing their knowledge and trust in Jesus PIOVlsion of pastoral care for people livinÈ In the parish missionary and outreach work To facilitate this work ir is important that thè f3bTiC of St Anne's Church and that of St Mary's Church Hall are boih well maintained. Achievements and performance The new extension kitchen and toilet facilitie5 have been in full operation and are provinÈ a boon to all churchgoers and club5 and Societies who make use of the church. The Quinquennial Teport issued in 2023 recommended substantial repairs, particularly to the roof and irs environs. A projèct was mounted in the second half of the year and was largely complete by the year-end.
ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'S) COUNCIL MEMBERS REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Financial review Unrestricted income for the year 2024 was £554,222 compared to £64.945 in 2023. It included a very generous legacy of £471,840. Total unrestricted giving was £533,678. The rent frorn letting St. Mary's was £6,816, an increase of £1.230 on the previous year. Unrestricted Gift Aid rettjverable was £10,067. an increase of £1,119 compared to the previous year. The restricted income for the year 2024 of £14.438, increased by £196. Income to the Music fund of £6,117 increased from the previous year by £271. Income from Investments and interest-bearing accounts of £14.614, included in both the unrestricted and restricted funds, increased by £2,589 compared to the previous year. Expenditure in the unrestricted fund for the year 2024 was £87,463. Expenditure for the Fabric fund for the year Was £131,269. The St. Mary's costs were £5.508 compared to £37.807 in the previous year when the windows were renovated. Expenditure for the Music fund was £4.303. The fund therefore showèd a profit for the year of £1,814. The result of the above-mentioned figures is that income has exceeded expenditure in 2024 by £345,624. These figure5 are before the inclusion of the revaluation of the investments. Their valuation as at 3111 DecembeT 2024 has resulted in an increase of £4,955 compared to an increase of £18,529 in 2023. The net result of all the above is that total funds as at 315t December 2024 are E739.966. an increase of E350,581 compared to the previous year. The weekly unrestricted expenditure amounled to £1,682 in 2024 compared to £2,230 in 2023. This calculation exclude5 the £IOO,000 that was taken from general funds for each of the Extension and Quinquennial works. Reserves pgllcy It Is PCC policy lif p0s5iblel to maintain a balance of unrestricted funds which equates to approximately six months unrestrirted payments to cover emergency situations that may arise from tirne to time. FOT 2024 this is £43,732 (again. excluding the £IOO,000 mentioned abovel. The General Fund in note 12 of £464,905 includes fixed assets of £610 together with debtors and ¢reditors of £5,822 and1£3,0151, respectively. Taking these figures out leaves an amount of £461,488 of unfe5tricted funds which more than matches the target at the year-end. Structure. governance and management The parochial church ¢oun¢il is a charity which 15 re81Stered with the Charity CommissK*n under the name -The Parochial Church Council of the Ecclesiastical Parish of St Anne Lewes- with charity number 1185509. The trustee5 who served dur¢n8 the year and up to the date of signature of the financial statements were..
sr ANNE'S PAROCHIAL CHURCH COUNCIL IINCWDING ST MARY'S) COVNCIL MEMBERS AEPORY ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER2024 Rector.. The Rev'd 8. Brown Slecte(l Mernber5". (Term ol Offl¢e ends Aprll 1024 Re-elerted APCM Aprll 20241 Mr R. Cocks Mrs G. Scott A5SOCiOte Vicor.. The Rev'd Canon J. E8ar (retired July 20241 Reoder.. Mr P. Shears (Term ol Office ends April 202SI Mrs D. Rogers Mr l. Stevens Mrs ), Price Wordens.. Mr A. Price lelected April 20241 Dr M-R. Shears lelected April 20241 (Term of Office ends May 20261 Mr S. Kirkwood Mr5 E. Trott RepresentGtive5 on the Deonery 5yn(O.. Mr P. Shear5 Co-opted by the PCC.. Mrs A. Hodge Mlss W. Grisham Setretsry to the PCC.. Mrs l. Priie The council rnembers report was approved by the Boatd of Council Member5. (kn behalf of the members ot tho Councll Date..
5T ANNE'S PAROCHIAL CHURCH COUNCIL IINCWDING 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 finanaal statements of St Anne's Parochial Church Council Ithe charity) for the yeaT ended 31 December 2024. Responsibilities and basls of report As the council members of the charity you are Te5pon5ible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Actl. I report in respect of my examination of the charitv'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 14515llbl of the 2011 Act. Independent examlner's statement Since the charity's gross income exceeded £250.WO your examlner must be a member of a body listed in Section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institue of Charted Accountants in En8land and Wale5, which is one of the listed bodies. Your attention is drawn to the fact that the charlty has piepared financièl 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 IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice i55ued on l Apfil 2005 which is referred to in the extant regulations but has now been withdrawn. l 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 I January 2015. I have completed my exarnination. I confirm that no matters have come to my attention in tonnection with the examination giving me cause to believe that in any matèrial respect.. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act,. or the financial statèments do not a¢¢ord with those records,. or the financial statements do not comply wilh the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reportsl Regulations 2008 other than any requirement that the account$ 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 understsnding of the finanaal statements to be reached. David M3rtirt FCA Dated.. TC Group One Bell Lane Lewes East sussex BN7 IJU
ST ANNE'5 PAROCHIALCHURCH COUNCIL IINCWDING ST MARY'S) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 unrèstricted funds Restricted funds music Restricted funds gèneral 2024 Total Total 2024 2024 2024 2023 Notes Income from.. Donations and legacies Charitable activitios Investments 533.678 10,009 10,535 536 1,590 2,652 4,079 535,804 18.242 14,614 52,940 14,222 12,025 5.581 Total income 554,222 6.117 8,321 568.660 79.187 Expenditure on.. Charitable activities Oiher trading activities 82,274 5.508 131,269 213,543 9,811 186,272 41,119 4,303 Total expenditure 87.782 4,303 131,269 223,354 227.391 Net gains on Investrnents 4.917 38 4,955 18.529 Net incomellexpenditurel 471,357 1,814 1122.9101 350.261 1129,6751 Transfers between funds 1100,0001 loo,000 Net movement in funds 371.357 1,814 122.9101 350,261 1129,6751 Retonclliation of ftTnds: Fund balances at l January 2024 317,949 18.S08 52.928 389,38S 519,060 Fund balances at 31 December 2024 689,306 20.322 30,018 739.646 389,385 The statement of financial activities includes all gains and losse5 recognised In the year. All income and expenditufe derive from continuing activities.
ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING sr MARY'51 8ALANCE SHEET A5AT310ECEMBER 2024 2024 20Z3 Notes Flxed assets Trngible assèts Investments li 12 610 220,762 2,004 215,807 221,372 217,811 Current ass•ts Oebtors Cash at bank and In hand 5,822 515.787 6,383 169.531 521.609 175,914 Qeditors: amount5 fallln8 due wlthln one year 3,335 4.340 Net turrent asset5 518.274 171,574 Total assets less current liabilltyes 739.646 389,385 The fund5 of th• thailty Restricted income funds- general Restricted income funds- muslc Unrestricted funds 15 16 30.018 20,322 689,306 52,928 18,508 317,949 739,646 389,385 The flnancial statements were approved by the PCC on .. . nd signed Dn its behalf by.. The Revd Ben Brown E b-IIc)If PCC Chalmlan
ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARV'SI NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policies Charity informatlon St Anne'5 Parochial Church Council is committed to enablin8 as many people as possible to worship at the church and to become part of our parish community at St Anne's. 1.1 Accountlng convention The financial statements have been prepared in accordance with the charitV'5 governing document. the Charities Act 2011. FRS 102 'The Financial Reporting Standard applicable In the UK and Republic of Ireland~ I"FRS 102~1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommènded Practice app15cable to charities preparing their account5 in accordance with the Financial Reptsrting Standard applicable In the UK and Republic of Ireland IFRS IQ21" (effective l January 20191. The tharity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the wovisions in the SORP lor charities not to prepaie a Statement of Cash Flows. The financial stalements have departed from the Charitie5 (Accounts and Reportsl Regulation5 2008 only to the eent required to provide a true and fair view. This departure has involved following the Statement of Recommended Praciice for charities applyin8 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 staternent5 are prepared in sterling, which 15 the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been piepared under the historical cost convention. The financial statements include all transactions, assets and liabilities for which ihe 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 conr At the time of approving the financial statemènrs, the counol members have a reasonable expectation that the charity has adequate resources to continue in operational existence for the loreseeable future. Thus the council members continue to adopt the gotng concern basis of accotsnting 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 - al income frorn trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest,. bl 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 lor which they were given. Any balance remains unspent at the end of the year is carried forward as a balance on that fund.
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCWDING ST MAAY'SI NOTES TO THE FINANCIAL STATEMENTS ICONTINUED} FOR ThE YEAR ENDED 31 DECEMBER2024 Ac¢ountlng poll¢les (Continuedl 1.4 In¢ome All income and endowments are accounted for without deduction for any cost5 of receivability, are recognised when there is evidence of entitlement, receipt 15 probable, and the amount can be measured Tdiablv. Donations and legacles Collertlons are recognised when received. Planned gwlnq receivable is recognised when there Is evldence of entltlement, receipt is probable, and the amount accords with the Gift Aid declaration or other record of intention to donate. 61ft ald recovered is recognised when the income to which it is attached is reco&niseil. Gn7nts ond legacles are recognised when the formal offer in writin8 of the funding, 15 received by the PCC. Charltable actlvltles 5ules of mgqazines and study notes are recognised when te1ved. Rentsfmm property are recognlsed in a¢¢otdance with the rental aBTeements, when ieceipt is probable. other tradlng adivities Trading artivitie5 are where income is receivable in return for selling goods or providing Services. Income from trading is recognised either.. a when reeewed, or b - in thè case of concerts, at the date of the event. Advance bookin8s are included in Creditors until the conrI has taken place. Investment Income Dividends are accounted for when due and payable. Interest entitlements are actounted for as they ac¢rue. All other Income All other income is re¢o8ni5ed in accordance with the above overall policy. Gains and 1055e5 on investments Realised gain5 are recognised when the invesrments are sold. Unrealised gains and losses are accounted for on revaluation at 31 December.
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCWDING ST MARY'SI NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER 2024 Accounting pollcles Icontinuetll l.S Expenditure Expenditure is accounted for on an accruals basis and accounted for gross. Grants Grants and donation5 are accounted for when paid over, or when 3warded where the èWaTd cieates a binding obligation on the PCC. Churth Activities The diocesan parish contribution is accounted for on an annual basis, fleeting the allocation set by our Deanery. Any parish contribution unpaid at 31 December is provided for in these accounts as an operational Ithough not a legall liability and 15 Show a5 a creditor in the balance sheet. 1.6 Tanglble fixed a55ets Consecrated and beneficed property of any kind is excluded from the accounts by 5.10121 of the Charities Act 2011. Movable church furnishing held by the Vicèr 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 nor included in the fin3nci31 statements. For other property acquired where there is insufficient cosi Information available. the cost gf such h$5etS are not stèted in the financial statements. All expenditure on consecrated or beneftced build¢n85 and individual items costing under £1,000 are written off in rhe year they were incurred. Depreciation 15 recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following b85es'. Fixtuies and littin85 IO% stra5ght 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 15 recognised in the statement of financial activities. 1.7 Flxed 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 recognssed in 'net gains / Ilossesl on investments, In the SOFA of the Shares are pub5icly traded or their fair value can otherwise be measured reliably. 1.8 5mpairment of fixed assets Assets not rnea5ured at lair value are reviewed for any indication that the asset may be impaired at each balènce sheet date. If there are Indicato of Impairment, the recoverable amount is estimated and compared to the carrying amount. Where the carrying amount exceed5 It recoverable amount, an impairment loss is recognised in expendituie through the statement ol financial activities. 10-
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCWDING ST MARY'S) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR ThTE YEAR ENDE031 DECEMBER2024 Accountln8 pollcles (Continued) 1.9 Cash and cash equlvalènts Cash and cash equivalents include ta5h in hand, deposit5 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 borrowin8s in current liabilities. 1.10 Finanaal instruments The charity has elected to apply the provisions of Section 11 'Basic Financial InstnJments' ènd Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instrument5. Financlal instruments are reco8nised in the charity's balance sheet when the charity becomes party to the ¢ontTactual provisions of the instrument. Financial assets and liabllities are offset, with the net arnounts presented in the financial 5tatement5, when there is a legally enforcÈable right to Set off the reco8nised amounts and there is an intention to settle on a net basis OT to reali5e the asset and Settle the liability simultaneously. Bu5icAinqnciol ussets Basic financial assets, which Include debtors and ¢ash and bank balance5, are initially measured at transaction price includin8 transaction costs and are Subsequently carried at amortised cost using the effèctive 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. Fln3n¢lal assets classified as re1vable within one year are not amortised. 8t7sicAinan(iolliobilities Basic finantial lièbilities, includin8 creditors and bank loan5 are initially reco8nised 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 vear or less. If not. they are presentèd a5 ntsn-turrent liabilities. TTade creditor5 are recognised initially at transactiort price and subsequently measured at amortised cost U5in8 the effective interest method. Dere¢ognition oAfinon¢ial liabilities Financial liabilities are derecognised when the charitvs contractual obligations expire or are dls¢har8ed or cancelled.
ST ANNE'S PAROCHIAL CHURCH COUNCIL IINCLUDING ST MARY'SI NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER2024 Accounting policies {Continuedl 1.11 Judgements and key source5 of estlmation uncertainty In the application of the charity's accounting policies, management are required to make judgements, estimates and assurnptions about the carrying amount of assets and liabilities that are not readily apparent from other source5. The estimates and associated are based on historical experience and tsther factors that are considered to be relevant. Actual results may differ from these estimates. Depreciation Tangible fixed asset5 are depreaated over rheir useful lives taking into accouf)t residu31 values where appropriate. The actual lives of the assets and Tesidual values are assessed annually and may vary depending on a number of factors. In re-assessing the a%set5 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. Income from donatlOn5 and legacies Unrestrirted funds Restricted funds music Restric¢ed funds general 2024 Total Total 2024 2024 2024 2023 Donations and gifts Le8acies receivable 56,338 477,340 536 1.590 58,464 477,340 52,940 533,678 536 1.590 535,804 52,940 Donations and gifts Planned giving (excl. tax relundsl Planned giving Ino tax refunds) Loose cash collection Don3tions/ appea15 Gift aid recoverable 33,356 4.466 8.449 33,356 4,466 8,449 1.439 10,754 30.716 1,488 7.314 3,219 10,203 1,439 151 10,067 536 56.338 536 1,59 58,464 52.940
sr ANNE'5 PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'SI NOTES TO THE FINANCIAL STATEMENT5 ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER 2024 Income from charltable actlvltles Unrestrlded funds Re51ricted funds Restrlcted funds general 2024 Total Total mu51C 2024 2024 2024 2023 Income from charltable actlvltles Rent from lettin8 of St Mary's Bookstall sales Fees for weddlngs & funera15 Fund raising 6,816 6,816 2,652 3,193 5,581 5,586 253 3.169 5,214 2.652 3,193 5,581 10.009 5.581 2.652 18,242 14,222 Income from InvtMentS Unrestricted Restrlcted funds funds 2024 2024 Total Total 2024 2023 Income from unlted investments 10.535 4.079 14,614 12,025 13-
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCLUDING ST MARY'SI NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 OECEMBER 2024 Expenditure on tharitable attivities Unrestricted Restrirted Music fund fund fund Total Total 2024 2024 2024 2024 2023 Direct costs Missionary and charitable giving Ministry- diocesan parish contribution Ministry- other clergy costs Stafflseivices & weddings/funeralsl UpkÈÈp o15ervices Church running cost5 Church maintenance and repair Upkeep ol churchyard Printing & stationery Church hall running c05t5 Fund raising costs 1.000 45,770 4,690 1,720 569 1,075 44,904 4,178 2,280 710 12,185 112,910 3,574 1,165 37,807 3,312 4S,770 4,690 1.720 569 10,559 140.702 3,9)3 1,218 5.508 4,303 10.559 9,433 3.903 1.218 5,508 131,269 4,303 84,370 131,269 4.303 219.942 224,100 Share of support and governance costs Isee note 61 Support 1,792 Governance 1,620 1.792 1,620 1,851 1.440 87,782 131.269 4.303 223,354 227.391 Analy515 by fund Unrestricted funds Restricted funds music Restricted funds - general 87.782 87,782 4,303 31,269 178,449 3.312 108,137 4,303 31.269 87,782 31,269 4.303 123,354 289,898 14-
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCWDING ST MARY'S) NOTES TO THE FINANCIAL STATEMENYS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Support costs allocated to actlvltles 2024 2023 Bank charges Depreciation Governante costs 398 457 1,394 1,620 1,394 1.440 3,412 3,291 Analy5ed between.. Unrestricted fund 3.412 3,291 Council Members None of the council members lor any persons connected wlth them) re¢elved any remuneration during the year, but 8 of them were reimbursed a total of £2,739 in respect of costs incurred on behalf of the PCC. 12023- 8 were reirnbursed £1,741). Employee5 The avera8e monthly number of employees during the year was.. 2024 Number 2023 Number Total During the year the PCC employed two organists on a part time basis for a total of £1.72012023- £2,280). There were no employees whose annual remuneration was more than £60.tMJO. Galns and losses on Investments Unrestrlrted Restrlcted funds funds 2024 2024 Total Total 2024 2023 Galnslllossesl arising on.. Revaluation of investments 4.917 38 4,955 18,529 10 Taxatlon The charlty is exempt from taxation on its actNities because all its income is applied for charitable purposes. 15-
ST ANNE'S PAROCHIALCHURCH COUNCIL (INCLUDING ST MARY'S) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 11 Tangible fixed asse15 Fixtur5 ad tittings Cost At l January 2024 37.411 At 31 December 2024 37.411 Depreciation and impairment At l January 2024 Depreciation char8ed in the year 35,407 1,394 At 31 December 2024 36.801 C3rrying amount At 31 December 2024 610 At 31 December 2023 2.004 12 Fixed asset Investments Unlisted investments Cost or valuation At l January 2024 Valuation chan8e5 215,807 4,955 At 31 December 2024 220,762 Carrying amount At 31 December 2024 220,762 At 31 December 2023 215,807 13 Debtors 2024 2023 Amounts falling due within one year: Trade debtors 5.822 6,383 16
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCWDING ST MARY'S) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 14 Credltor5.' amounts falllng due wlthln one yèar 2024 2023 Trade creditors 3,335 15 Restrirted funds The restricted funds of the charity comprlse the unexpended balan$ of donations and grants held on trust subject to speclflc condltlons by donors as to how they may be used. At l January 2024 Incomin8 resources Resources expended Translers Galns and losses At31 December 2024 Friends of St Anne's Fabric fund Chan1 Trust 51,958 970 8,321 1131,2691 100,000 29,010 1,008 38 52,928 8,321 1131,2691 loo,000 38 30,018 Previous year.. At l January 2013 Incoming resources Resources expended Transfers Gains and losses At31 December 2023 Iiw.0001 ioo,coo Friends of St Anne's Fabric fund hancel Trust 51,699 915 8,396 18,1371 51,958 970 55 52,614 8,396 108,137 loo,0 ss 52,928 17-
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCLUDING ST MARY'S) NOTESTOTHE FINANCIALSTATEMENTS ICONnNUEDI FOR THE YEAR ENDED 31 DECEMBER2024 16 Restricted funds- music These ale restricted funds which are material to the charity's activities. At l January 2024 Incoming resources Resources expended At31 December 2024 Music fund 18,508 6,117 14,3031 20,322 18.508 6.117 14.3031 20,322 Previous year.. At l January 2023 Incoming resources Resource5 expended At31 December 2023 Music fund 15,974 5.846 13,3121 18.508 18-
ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'SI NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER2024 17 Unrestricted fund5 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 unrestrirted fvnds by the trustees for specific purposes. At l January 2024 Incoming resources Resources expended Transfers Galns and losses At31 December 2024 General fund Incumbent's discrentionary fund Church Hall Idesignatedl Clergy House Idesignatedl Church Tower Room Idesignatedl General fvnds 98.141 553,440 186,6761 IIoD,0001 464,905 4.971 782 17861 4,967 69,943 1,601 71,544 122,289 2,799 125,088 22,605 517 23,122 13201 13201 317.949 554,222 187,7821 IICM),0001 4,917 689,306 Prevlous ar.. At l January 2023 Incoming resources Resource5 expended Transfers Gains and losses At31 Oecember 2023 General fund Incurnbent's discrentionary fund Church Hall Idesignatedl Clergy House Idesignatedl Chur¢h Tower Room Idesignatedl General funds 249.248 64,115 1215.2221 98,141 4,861 830 17201 4,971 63,929 6.014 69,943 111.773 10.516 122,289 20,661 1.944 22,605 loo.000 li00,0) 450,472 64,945 115,942 iioo,0001 18,474 317,949 19-
ST ANNE'S PAROCHIAL CHURCH COUNCIL IINCLUDING ST MARY'SI NOTES TO THE FINANCIAL STATEMENT5 ICONTINUEDI FOR THE YEAR EJVDED 31 DECEMBER 2024 17 Unrestrkted funds Icontinuedl The Church Halland Clergy House designated funds represenl 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. Followin8 subiequent improvements to the church, there was no longer a requirement lor a Church Tower room and the PCC, having obtained permission from the surviving donors and Church House, agreed to reclassify these funds as nStricted funds. The designated funds are held by the PCC to finance routine future maintenance costs to the extent that thÈse cannot be met by unrestricted donation5. 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 irnprove the fabric of the church. The funds are invested wtth the CBF. The Chancel Trust fund exists as a resvlt of a bequest in previous yeafs to maintain the Chancel. The fund is invested wilh the CBF. Funds have been received during the yèar explicitly requested to be used at the discretbon of the incumbent. 18 Analysis of net assets between funds Unrestritted Restricted Restricted Total funds funds funds musi general 2024 2024 2024 2024 Fund balances at 31 December 2024 are represented by. rangible assets Investments 610 219.754 468.942 610 220,762 518,274 1,008 29.010 Current asset511liabilitie51 20.322 689.306 20,322 30,018 739.646 Unrestricted funds Restricted funds musie Restricted funds general 1023 Total 2023 2013 2023 Fund balantes at 31 December 2023 a represented bv: Tangible assets 2.004 Investments 214,837 Current asset5111iabilitiesl 101,108 2,004 215,807 171,574 970 18.508 51.958 317,949 18,508 52,928 389,385 -20-
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCWDING ST MARY'SI NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER2024 19 Related partytran5aCtions There were no disclosable related party transactions durin8 the year12023- none). 21
Charlty Registratlon No. IIBS509 srANNE'S PAROCHIALCHURCH COUNCIL IINCWDING ST MARY'S) ANNUAL REPORT AND UNAUDITED FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 BUSINESS ADVISORS & 14¢COVNTAIITS TC Group One Bell Lane Lewes East Sussex BN7 IIU
ST ANNE'S PAROCHIAL CHURCH COUNCIL IINCLUDING S7 MARY'SI CONTENTS Page Company information Council Members Teport Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 8-21
ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'S) COMPANY INFORMATION Counc51 Members As listed on the Council Members Repgrt Charity number 1185509 Indèpendent examiner David Martin FCA TC Group One Bell Lane Lewes East Su55ex BN7 IJU Bankers Barclays Bank PIC 149 Church Road Hove East Sussex BN3 2AE
ST ANNE'S PAROCHIAL CHURCH COUNCIL IINCWDING ST MARY'SI COUNCIL MEMBERS REPORT FOR ThE YEAR ENDED 31 DECEMBER2024 The touncil rnembers present their annual report and financial staternents for the year ended 31 Decembei 2024. The financial statements have been prepared iri accordance with the accounting policies set out in noie I to the financial statements and ctrmply with the Church Accounting Regulations 2006, the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to char1ties preparin8 their accounts in accordance with the Financial Reporting Standard èpplicable in the UK and Republic of Ireland IFRS 1021" leffective l January 20191. Objectives and actlvities The PCC 15 committed to enabling as many people 35 possible to worship at the church and to become part of our parish community at 5t Anne's. Then PCC maintains èn overview of worship throughout the parish and makes suggestions on how services can involve the many groups that live within the parish. The swvices and worship pui faith Into practice through prayer, scripture. music and sacrament. When planning activities lor the year, the Churchwardens and the PCC have considered the Charity Commission Euidance on public benefit and, in particular, the specific guidance on charitie5 for the advancement ol religion. In particular, the PCC aims to enable ordinary people to live out their faith as part of our parish community through.. worship and prayer learning Bbout the gospe1 developing their knowledge and trust in Jesus PIOVlsion of pastoral care for people livinÈ In the parish missionary and outreach work To facilitate this work ir is important that thè f3bTiC of St Anne's Church and that of St Mary's Church Hall are boih well maintained. Achievements and performance The new extension kitchen and toilet facilitie5 have been in full operation and are provinÈ a boon to all churchgoers and club5 and Societies who make use of the church. The Quinquennial Teport issued in 2023 recommended substantial repairs, particularly to the roof and irs environs. A projèct was mounted in the second half of the year and was largely complete by the year-end.
ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'S) COUNCIL MEMBERS REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Financial review Unrestricted income for the year 2024 was £554,222 compared to £64.945 in 2023. It included a very generous legacy of £471,840. Total unrestricted giving was £533,678. The rent frorn letting St. Mary's was £6,816, an increase of £1.230 on the previous year. Unrestricted Gift Aid rettjverable was £10,067. an increase of £1,119 compared to the previous year. The restricted income for the year 2024 of £14.438, increased by £196. Income to the Music fund of £6,117 increased from the previous year by £271. Income from Investments and interest-bearing accounts of £14.614, included in both the unrestricted and restricted funds, increased by £2,589 compared to the previous year. Expenditure in the unrestricted fund for the year 2024 was £87,463. Expenditure for the Fabric fund for the year Was £131,269. The St. Mary's costs were £5.508 compared to £37.807 in the previous year when the windows were renovated. Expenditure for the Music fund was £4.303. The fund therefore showèd a profit for the year of £1,814. The result of the above-mentioned figures is that income has exceeded expenditure in 2024 by £345,624. These figure5 are before the inclusion of the revaluation of the investments. Their valuation as at 3111 DecembeT 2024 has resulted in an increase of £4,955 compared to an increase of £18,529 in 2023. The net result of all the above is that total funds as at 315t December 2024 are E739.966. an increase of E350,581 compared to the previous year. The weekly unrestricted expenditure amounled to £1,682 in 2024 compared to £2,230 in 2023. This calculation exclude5 the £IOO,000 that was taken from general funds for each of the Extension and Quinquennial works. Reserves pgllcy It Is PCC policy lif p0s5iblel to maintain a balance of unrestricted funds which equates to approximately six months unrestrirted payments to cover emergency situations that may arise from tirne to time. FOT 2024 this is £43,732 (again. excluding the £IOO,000 mentioned abovel. The General Fund in note 12 of £464,905 includes fixed assets of £610 together with debtors and ¢reditors of £5,822 and1£3,0151, respectively. Taking these figures out leaves an amount of £461,488 of unfe5tricted funds which more than matches the target at the year-end. Structure. governance and management The parochial church ¢oun¢il is a charity which 15 re81Stered with the Charity CommissK*n under the name -The Parochial Church Council of the Ecclesiastical Parish of St Anne Lewes- with charity number 1185509. The trustee5 who served dur¢n8 the year and up to the date of signature of the financial statements were..
sr ANNE'S PAROCHIAL CHURCH COUNCIL IINCWDING ST MARY'S) COVNCIL MEMBERS AEPORY ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER2024 Rector.. The Rev'd 8. Brown Slecte(l Mernber5". (Term ol Offl¢e ends Aprll 1024 Re-elerted APCM Aprll 20241 Mr R. Cocks Mrs G. Scott A5SOCiOte Vicor.. The Rev'd Canon J. E8ar (retired July 20241 Reoder.. Mr P. Shears (Term ol Office ends April 202SI Mrs D. Rogers Mr l. Stevens Mrs ), Price Wordens.. Mr A. Price lelected April 20241 Dr M-R. Shears lelected April 20241 (Term of Office ends May 20261 Mr S. Kirkwood Mr5 E. Trott RepresentGtive5 on the Deonery 5yn(O.. Mr P. Shear5 Co-opted by the PCC.. Mrs A. Hodge Mlss W. Grisham Setretsry to the PCC.. Mrs l. Priie The council rnembers report was approved by the Boatd of Council Member5. (kn behalf of the members ot tho Councll Date..
5T ANNE'S PAROCHIAL CHURCH COUNCIL IINCWDING 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 finanaal statements of St Anne's Parochial Church Council Ithe charity) for the yeaT ended 31 December 2024. Responsibilities and basls of report As the council members of the charity you are Te5pon5ible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Actl. I report in respect of my examination of the charitv'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 14515llbl of the 2011 Act. Independent examlner's statement Since the charity's gross income exceeded £250.WO your examlner must be a member of a body listed in Section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institue of Charted Accountants in En8land and Wale5, which is one of the listed bodies. Your attention is drawn to the fact that the charlty has piepared financièl 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 IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice i55ued on l Apfil 2005 which is referred to in the extant regulations but has now been withdrawn. l 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 I January 2015. I have completed my exarnination. I confirm that no matters have come to my attention in tonnection with the examination giving me cause to believe that in any matèrial respect.. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act,. or the financial statèments do not a¢¢ord with those records,. or the financial statements do not comply wilh the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reportsl Regulations 2008 other than any requirement that the account$ 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 understsnding of the finanaal statements to be reached. David M3rtirt FCA Dated.. TC Group One Bell Lane Lewes East sussex BN7 IJU
ST ANNE'5 PAROCHIALCHURCH COUNCIL IINCWDING ST MARY'S) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 unrèstricted funds Restricted funds music Restricted funds gèneral 2024 Total Total 2024 2024 2024 2023 Notes Income from.. Donations and legacies Charitable activitios Investments 533.678 10,009 10,535 536 1,590 2,652 4,079 535,804 18.242 14,614 52,940 14,222 12,025 5.581 Total income 554,222 6.117 8,321 568.660 79.187 Expenditure on.. Charitable activities Oiher trading activities 82,274 5.508 131,269 213,543 9,811 186,272 41,119 4,303 Total expenditure 87.782 4,303 131,269 223,354 227.391 Net gains on Investrnents 4.917 38 4,955 18.529 Net incomellexpenditurel 471,357 1,814 1122.9101 350.261 1129,6751 Transfers between funds 1100,0001 loo,000 Net movement in funds 371.357 1,814 122.9101 350,261 1129,6751 Retonclliation of ftTnds: Fund balances at l January 2024 317,949 18.S08 52.928 389,38S 519,060 Fund balances at 31 December 2024 689,306 20.322 30,018 739.646 389,385 The statement of financial activities includes all gains and losse5 recognised In the year. All income and expenditufe derive from continuing activities.
ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING sr MARY'51 8ALANCE SHEET A5AT310ECEMBER 2024 2024 20Z3 Notes Flxed assets Trngible assèts Investments li 12 610 220,762 2,004 215,807 221,372 217,811 Current ass•ts Oebtors Cash at bank and In hand 5,822 515.787 6,383 169.531 521.609 175,914 Qeditors: amount5 fallln8 due wlthln one year 3,335 4.340 Net turrent asset5 518.274 171,574 Total assets less current liabilltyes 739.646 389,385 The fund5 of th• thailty Restricted income funds- general Restricted income funds- muslc Unrestricted funds 15 16 30.018 20,322 689,306 52,928 18,508 317,949 739,646 389,385 The flnancial statements were approved by the PCC on .. . nd signed Dn its behalf by.. The Revd Ben Brown E b-IIc)If PCC Chalmlan
ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARV'SI NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policies Charity informatlon St Anne'5 Parochial Church Council is committed to enablin8 as many people as possible to worship at the church and to become part of our parish community at St Anne's. 1.1 Accountlng convention The financial statements have been prepared in accordance with the charitV'5 governing document. the Charities Act 2011. FRS 102 'The Financial Reporting Standard applicable In the UK and Republic of Ireland~ I"FRS 102~1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommènded Practice app15cable to charities preparing their account5 in accordance with the Financial Reptsrting Standard applicable In the UK and Republic of Ireland IFRS IQ21" (effective l January 20191. The tharity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the wovisions in the SORP lor charities not to prepaie a Statement of Cash Flows. The financial stalements have departed from the Charitie5 (Accounts and Reportsl Regulation5 2008 only to the eent required to provide a true and fair view. This departure has involved following the Statement of Recommended Praciice for charities applyin8 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 staternent5 are prepared in sterling, which 15 the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been piepared under the historical cost convention. The financial statements include all transactions, assets and liabilities for which ihe 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 conr At the time of approving the financial statemènrs, the counol members have a reasonable expectation that the charity has adequate resources to continue in operational existence for the loreseeable future. Thus the council members continue to adopt the gotng concern basis of accotsnting 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 - al income frorn trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest,. bl 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 lor which they were given. Any balance remains unspent at the end of the year is carried forward as a balance on that fund.
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCWDING ST MAAY'SI NOTES TO THE FINANCIAL STATEMENTS ICONTINUED} FOR ThE YEAR ENDED 31 DECEMBER2024 Ac¢ountlng poll¢les (Continuedl 1.4 In¢ome All income and endowments are accounted for without deduction for any cost5 of receivability, are recognised when there is evidence of entitlement, receipt 15 probable, and the amount can be measured Tdiablv. Donations and legacles Collertlons are recognised when received. Planned gwlnq receivable is recognised when there Is evldence of entltlement, receipt is probable, and the amount accords with the Gift Aid declaration or other record of intention to donate. 61ft ald recovered is recognised when the income to which it is attached is reco&niseil. Gn7nts ond legacles are recognised when the formal offer in writin8 of the funding, 15 received by the PCC. Charltable actlvltles 5ules of mgqazines and study notes are recognised when te1ved. Rentsfmm property are recognlsed in a¢¢otdance with the rental aBTeements, when ieceipt is probable. other tradlng adivities Trading artivitie5 are where income is receivable in return for selling goods or providing Services. Income from trading is recognised either.. a when reeewed, or b - in thè case of concerts, at the date of the event. Advance bookin8s are included in Creditors until the conrI has taken place. Investment Income Dividends are accounted for when due and payable. Interest entitlements are actounted for as they ac¢rue. All other Income All other income is re¢o8ni5ed in accordance with the above overall policy. Gains and 1055e5 on investments Realised gain5 are recognised when the invesrments are sold. Unrealised gains and losses are accounted for on revaluation at 31 December.
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCWDING ST MARY'SI NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER 2024 Accounting pollcles Icontinuetll l.S Expenditure Expenditure is accounted for on an accruals basis and accounted for gross. Grants Grants and donation5 are accounted for when paid over, or when 3warded where the èWaTd cieates a binding obligation on the PCC. Churth Activities The diocesan parish contribution is accounted for on an annual basis, fleeting the allocation set by our Deanery. Any parish contribution unpaid at 31 December is provided for in these accounts as an operational Ithough not a legall liability and 15 Show a5 a creditor in the balance sheet. 1.6 Tanglble fixed a55ets Consecrated and beneficed property of any kind is excluded from the accounts by 5.10121 of the Charities Act 2011. Movable church furnishing held by the Vicèr 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 nor included in the fin3nci31 statements. For other property acquired where there is insufficient cosi Information available. the cost gf such h$5etS are not stèted in the financial statements. All expenditure on consecrated or beneftced build¢n85 and individual items costing under £1,000 are written off in rhe year they were incurred. Depreciation 15 recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following b85es'. Fixtuies and littin85 IO% stra5ght 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 15 recognised in the statement of financial activities. 1.7 Flxed 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 recognssed in 'net gains / Ilossesl on investments, In the SOFA of the Shares are pub5icly traded or their fair value can otherwise be measured reliably. 1.8 5mpairment of fixed assets Assets not rnea5ured at lair value are reviewed for any indication that the asset may be impaired at each balènce sheet date. If there are Indicato of Impairment, the recoverable amount is estimated and compared to the carrying amount. Where the carrying amount exceed5 It recoverable amount, an impairment loss is recognised in expendituie through the statement ol financial activities. 10-
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCWDING ST MARY'S) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR ThTE YEAR ENDE031 DECEMBER2024 Accountln8 pollcles (Continued) 1.9 Cash and cash equlvalènts Cash and cash equivalents include ta5h in hand, deposit5 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 borrowin8s in current liabilities. 1.10 Finanaal instruments The charity has elected to apply the provisions of Section 11 'Basic Financial InstnJments' ènd Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instrument5. Financlal instruments are reco8nised in the charity's balance sheet when the charity becomes party to the ¢ontTactual provisions of the instrument. Financial assets and liabllities are offset, with the net arnounts presented in the financial 5tatement5, when there is a legally enforcÈable right to Set off the reco8nised amounts and there is an intention to settle on a net basis OT to reali5e the asset and Settle the liability simultaneously. Bu5icAinqnciol ussets Basic financial assets, which Include debtors and ¢ash and bank balance5, are initially measured at transaction price includin8 transaction costs and are Subsequently carried at amortised cost using the effèctive 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. Fln3n¢lal assets classified as re1vable within one year are not amortised. 8t7sicAinan(iolliobilities Basic finantial lièbilities, includin8 creditors and bank loan5 are initially reco8nised 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 vear or less. If not. they are presentèd a5 ntsn-turrent liabilities. TTade creditor5 are recognised initially at transactiort price and subsequently measured at amortised cost U5in8 the effective interest method. Dere¢ognition oAfinon¢ial liabilities Financial liabilities are derecognised when the charitvs contractual obligations expire or are dls¢har8ed or cancelled.
ST ANNE'S PAROCHIAL CHURCH COUNCIL IINCLUDING ST MARY'SI NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER2024 Accounting policies {Continuedl 1.11 Judgements and key source5 of estlmation uncertainty In the application of the charity's accounting policies, management are required to make judgements, estimates and assurnptions about the carrying amount of assets and liabilities that are not readily apparent from other source5. The estimates and associated are based on historical experience and tsther factors that are considered to be relevant. Actual results may differ from these estimates. Depreciation Tangible fixed asset5 are depreaated over rheir useful lives taking into accouf)t residu31 values where appropriate. The actual lives of the assets and Tesidual values are assessed annually and may vary depending on a number of factors. In re-assessing the a%set5 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. Income from donatlOn5 and legacies Unrestrirted funds Restricted funds music Restric¢ed funds general 2024 Total Total 2024 2024 2024 2023 Donations and gifts Le8acies receivable 56,338 477,340 536 1.590 58,464 477,340 52,940 533,678 536 1.590 535,804 52,940 Donations and gifts Planned giving (excl. tax relundsl Planned giving Ino tax refunds) Loose cash collection Don3tions/ appea15 Gift aid recoverable 33,356 4.466 8.449 33,356 4,466 8,449 1.439 10,754 30.716 1,488 7.314 3,219 10,203 1,439 151 10,067 536 56.338 536 1,59 58,464 52.940
sr ANNE'5 PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'SI NOTES TO THE FINANCIAL STATEMENT5 ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER 2024 Income from charltable actlvltles Unrestrlded funds Re51ricted funds Restrlcted funds general 2024 Total Total mu51C 2024 2024 2024 2023 Income from charltable actlvltles Rent from lettin8 of St Mary's Bookstall sales Fees for weddlngs & funera15 Fund raising 6,816 6,816 2,652 3,193 5,581 5,586 253 3.169 5,214 2.652 3,193 5,581 10.009 5.581 2.652 18,242 14,222 Income from InvtMentS Unrestricted Restrlcted funds funds 2024 2024 Total Total 2024 2023 Income from unlted investments 10.535 4.079 14,614 12,025 13-
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCLUDING ST MARY'SI NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 OECEMBER 2024 Expenditure on tharitable attivities Unrestricted Restrirted Music fund fund fund Total Total 2024 2024 2024 2024 2023 Direct costs Missionary and charitable giving Ministry- diocesan parish contribution Ministry- other clergy costs Stafflseivices & weddings/funeralsl UpkÈÈp o15ervices Church running cost5 Church maintenance and repair Upkeep ol churchyard Printing & stationery Church hall running c05t5 Fund raising costs 1.000 45,770 4,690 1,720 569 1,075 44,904 4,178 2,280 710 12,185 112,910 3,574 1,165 37,807 3,312 4S,770 4,690 1.720 569 10,559 140.702 3,9)3 1,218 5.508 4,303 10.559 9,433 3.903 1.218 5,508 131,269 4,303 84,370 131,269 4.303 219.942 224,100 Share of support and governance costs Isee note 61 Support 1,792 Governance 1,620 1.792 1,620 1,851 1.440 87,782 131.269 4.303 223,354 227.391 Analy515 by fund Unrestricted funds Restricted funds music Restricted funds - general 87.782 87,782 4,303 31,269 178,449 3.312 108,137 4,303 31.269 87,782 31,269 4.303 123,354 289,898 14-
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCWDING ST MARY'S) NOTES TO THE FINANCIAL STATEMENYS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Support costs allocated to actlvltles 2024 2023 Bank charges Depreciation Governante costs 398 457 1,394 1,620 1,394 1.440 3,412 3,291 Analy5ed between.. Unrestricted fund 3.412 3,291 Council Members None of the council members lor any persons connected wlth them) re¢elved any remuneration during the year, but 8 of them were reimbursed a total of £2,739 in respect of costs incurred on behalf of the PCC. 12023- 8 were reirnbursed £1,741). Employee5 The avera8e monthly number of employees during the year was.. 2024 Number 2023 Number Total During the year the PCC employed two organists on a part time basis for a total of £1.72012023- £2,280). There were no employees whose annual remuneration was more than £60.tMJO. Galns and losses on Investments Unrestrlrted Restrlcted funds funds 2024 2024 Total Total 2024 2023 Galnslllossesl arising on.. Revaluation of investments 4.917 38 4,955 18,529 10 Taxatlon The charlty is exempt from taxation on its actNities because all its income is applied for charitable purposes. 15-
ST ANNE'S PAROCHIALCHURCH COUNCIL (INCLUDING ST MARY'S) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 11 Tangible fixed asse15 Fixtur5 ad tittings Cost At l January 2024 37.411 At 31 December 2024 37.411 Depreciation and impairment At l January 2024 Depreciation char8ed in the year 35,407 1,394 At 31 December 2024 36.801 C3rrying amount At 31 December 2024 610 At 31 December 2023 2.004 12 Fixed asset Investments Unlisted investments Cost or valuation At l January 2024 Valuation chan8e5 215,807 4,955 At 31 December 2024 220,762 Carrying amount At 31 December 2024 220,762 At 31 December 2023 215,807 13 Debtors 2024 2023 Amounts falling due within one year: Trade debtors 5.822 6,383 16
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCWDING ST MARY'S) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 14 Credltor5.' amounts falllng due wlthln one yèar 2024 2023 Trade creditors 3,335 15 Restrirted funds The restricted funds of the charity comprlse the unexpended balan$ of donations and grants held on trust subject to speclflc condltlons by donors as to how they may be used. At l January 2024 Incomin8 resources Resources expended Translers Galns and losses At31 December 2024 Friends of St Anne's Fabric fund Chan1 Trust 51,958 970 8,321 1131,2691 100,000 29,010 1,008 38 52,928 8,321 1131,2691 loo,000 38 30,018 Previous year.. At l January 2013 Incoming resources Resources expended Transfers Gains and losses At31 December 2023 Iiw.0001 ioo,coo Friends of St Anne's Fabric fund hancel Trust 51,699 915 8,396 18,1371 51,958 970 55 52,614 8,396 108,137 loo,0 ss 52,928 17-
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCLUDING ST MARY'S) NOTESTOTHE FINANCIALSTATEMENTS ICONnNUEDI FOR THE YEAR ENDED 31 DECEMBER2024 16 Restricted funds- music These ale restricted funds which are material to the charity's activities. At l January 2024 Incoming resources Resources expended At31 December 2024 Music fund 18,508 6,117 14,3031 20,322 18.508 6.117 14.3031 20,322 Previous year.. At l January 2023 Incoming resources Resource5 expended At31 December 2023 Music fund 15,974 5.846 13,3121 18.508 18-
ST ANNE'S PAROCHIAL CHURCH COUNCIL (INCLUDING ST MARY'SI NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER2024 17 Unrestricted fund5 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 unrestrirted fvnds by the trustees for specific purposes. At l January 2024 Incoming resources Resources expended Transfers Galns and losses At31 December 2024 General fund Incumbent's discrentionary fund Church Hall Idesignatedl Clergy House Idesignatedl Church Tower Room Idesignatedl General fvnds 98.141 553,440 186,6761 IIoD,0001 464,905 4.971 782 17861 4,967 69,943 1,601 71,544 122,289 2,799 125,088 22,605 517 23,122 13201 13201 317.949 554,222 187,7821 IICM),0001 4,917 689,306 Prevlous ar.. At l January 2023 Incoming resources Resource5 expended Transfers Gains and losses At31 Oecember 2023 General fund Incurnbent's discrentionary fund Church Hall Idesignatedl Clergy House Idesignatedl Chur¢h Tower Room Idesignatedl General funds 249.248 64,115 1215.2221 98,141 4,861 830 17201 4,971 63,929 6.014 69,943 111.773 10.516 122,289 20,661 1.944 22,605 loo.000 li00,0) 450,472 64,945 115,942 iioo,0001 18,474 317,949 19-
ST ANNE'S PAROCHIAL CHURCH COUNCIL IINCLUDING ST MARY'SI NOTES TO THE FINANCIAL STATEMENT5 ICONTINUEDI FOR THE YEAR EJVDED 31 DECEMBER 2024 17 Unrestrkted funds Icontinuedl The Church Halland Clergy House designated funds represenl 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. Followin8 subiequent improvements to the church, there was no longer a requirement lor a Church Tower room and the PCC, having obtained permission from the surviving donors and Church House, agreed to reclassify these funds as nStricted funds. The designated funds are held by the PCC to finance routine future maintenance costs to the extent that thÈse cannot be met by unrestricted donation5. 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 irnprove the fabric of the church. The funds are invested wtth the CBF. The Chancel Trust fund exists as a resvlt of a bequest in previous yeafs to maintain the Chancel. The fund is invested wilh the CBF. Funds have been received during the yèar explicitly requested to be used at the discretbon of the incumbent. 18 Analysis of net assets between funds Unrestritted Restricted Restricted Total funds funds funds musi general 2024 2024 2024 2024 Fund balances at 31 December 2024 are represented by. rangible assets Investments 610 219.754 468.942 610 220,762 518,274 1,008 29.010 Current asset511liabilitie51 20.322 689.306 20,322 30,018 739.646 Unrestricted funds Restricted funds musie Restricted funds general 1023 Total 2023 2013 2023 Fund balantes at 31 December 2023 a represented bv: Tangible assets 2.004 Investments 214,837 Current asset5111iabilitiesl 101,108 2,004 215,807 171,574 970 18.508 51.958 317,949 18,508 52,928 389,385 -20-
ST ANNE'S PAROCHIALCHURCH COUNCIL IINCWDING ST MARY'SI NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER2024 19 Related partytran5aCtions There were no disclosable related party transactions durin8 the year12023- none). 21