ST JAMES, CHURCH ELSTEAD FINANCIAL STATEMENTS of the PAROCHIAL CHURCH COUNCIL st Year Ended 31 December 2022
ELSTEAD PAROCHIAL CHURCH COUNCIL endent Examiner's re ort to the Parochial Church Council of St. James, Elstead Inde for the Year ended 31st December 2022 I report on the accounts of the Parochial Church Council forthe year ended 31st December 2022 set out on pages 2 to 8. Respective responslbllities of trustees and examiner As the charity's trustees you are responsible for the preparation of the accounts. You consider that the audit requirement of Sertion 144121 of the Charities Act 2011 (the Act) does not apply. It is my responsibility to examine the accounts under Section 145 of the Act- follow procedures specified in the General Directions given by the Charity Commissioners under Section 14515llbl of the Act and to state whether particular matters have come to my attention. Basls of Independent Examiner's report My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charitv and a comparlson of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning such matters. The procedures undertaken do not include all the evidence that would be required in an audit. and consequently I do not express an audit opinion on the view given by the accounts. Independent ExaminÈrfs statement In connection with my examination no matter has come to my attention.. which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with Section 130 of the Act and to prepare accounts which accord with the account records and to comply with the accounting requirements of the Act have not been met,. or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Paul Chamberlain FCA, DChA Elm House, Tanshire Park, Shackleford Road, Elstead, Godalming, Surrey, GU8 6LB 2023
ELSTEAD PAROCHIAL CHURCH COUNCIL Annual Review of Financial Activities st Year ended 31 December 2022 Total receipts on unrestrirted funds were £71,813. Restricted income totalled £106,475 of which £30,566 was forthe Foodbank and £73,855 for Fit for the Future building project. Planned giving is static and not keeping pace with rising costs and is a concern. Whilst it is good to have received some generous donations towards the F4F project we need to continue to meet our daily running costs. The sale of the Elstead Village News continues to produce a good income. Total outgoing on unrestricted funds was £78,559 Diocesan Parish Share was a small decrease to £39,508. The Parish Office costs have increased in line with the demand on administrative and support needs of the EFSPH group. These costs are shared with Thursley and Shackleford & Peper Harow Parishes. The Elstead share only is shown in these accounts. Outward Eiving has been maintained. particularly sUPPOrting our school. and a balanced approach taken on the Charities to be supported. The FoodBank received grants of £18,250 from Surrey County Council and some personal donations to help cover periods when demand is great and grants have been used. The FoodBank and the Pastoral Fund have been used to relieve those in greatest need in Elstead, and now form a significant part of our weekly activities. The net result on unrestricted funds a deficit of £6,746 before unrealised losses on investments. (ln 2021 the deficit on unrestricted funds was £1.520 with unrealised gains on investments of £8,554.) To cover the deficit £6,000 has been moved from the designated fund for Major Repairs back into the general fund. Reserves Policy: The PCC policy is to maintain a balance on unrestritted funds to cover at least three month5 regular payments, which would be £19,640. The current reserves are 40% of £19,640, however the designated funds of £66.350 are available but continued use of these funds will impart on the funds for the F4F project. The PCC will discuss how to increase planned giving in 2023. The Flt for the Future ProJert is our main concern and active Fund Raising. All funds raised are restricted funds. The Major Repalrs Fund is a Designated fund with the intention of covering future repairs cost5, particularly the Quinquennial Costs. As thls Is a Designated Fund the PCC can decide whether to reallocate this fund at a future date, back to the general fund, or to the Fit for the Future Project when the project is further advanced and the effect on the repair's requirement understood. Note prepared by Revd Deliij Om?efor Pccin the absence of an Honorary treosurer. Poge I
ELSTEAD PAROCHIAL CHURCH COUNCIL Balance Sheet 31st December 2022 Notes 31 Dec 2022 31D¢ Investment Assets Investments, at market value 64.783 56,819 1,764 84,783 ui Current Assets Debtors & ppaYments Income Tax recoverable Depgsit Account Current Accounts & Floats 7,484 4,090 105,000 8,262 124.836 10,041 1,744 40,000 8,695 60,480 Less - Creditors Creditors & Accruals Provision for School Allocation Provision for OUard Giving 9,778 13,737 9,778 115,058 46,743 TOTAL ASSETS 173,641 £ 111,526 represented by:" Unrestricted Fund General Fund 7.741 16,451 7,741 16A51 Desi nated Funds Major Repairs Re-ordering Prtsjéct 34,976 31.374 40,976 66.350 72,350 Restricted Funds Book c)f Remembrance Garden of Remèmbrance Pastoral Fund Foodbank Flower Fund Re-ordering Project Major Repairs Fund 125 1,853 5,628 17,881 175 1,822 5,965 10,570 100 2,093 2.000 72,065 2,000 99,550 22.725 TOTAL FUNDS £173,641 £111,S26 Approved by the Parochial Church CouncAI on .. and signed by "_ K&vJ). rt4NNAH (Redorl Page 2
ELSTEAD PAROCHIAL CHURCH COUNCIL statement of Financial Activitie 315t D¢¢èmb&r 2022 Total Funds Unrestri¢tsd Designated Re8tri¢ted Fund$ Funds Funds 31 Dec 22 31 Doc 21 Nots$ INCOMING RESOURCES IKom8 frorn"_ Donors Lrfacios Grants ResliKted Donats"ons Investments Activities to further PCC objtetivès Adivilies to generate funfSs Special Collections Fit4Future- orderIng Total Incomlnu Re$ourc68 21al 21bl 21bl 21bl 21¢) 21dl 21el 44,530 44,530 45,538 2,900 18.000 2,390 1.638 5,760 10,149 1.3 4.332 £92,090 7.0 18.250 13.316 25.250 13.316 2.013 6.778 1.572 974 73,655 £176.288 2.013 6,898 11.572 80 974 73,855 £106.475 £71,813 OUTGOING RESOURCES Expetldiluie on.. Mission Giving & Grants Costs relating to the wolk of the Church Church Administration Other Costs Fit4Fulure- reorderin9 Total Outgoing R¢$our¢e8 31al 31bl 31¢) 31dl 4,463 52,925 11.863 9.308 25.568 100 30,031 53,025 11,863 9,408 3.883 £108,210 18,507 53,532 6,349 6.550 8,214 £91.252 100 3,883 £29.651 £78.559 NET OUTGOINGIINCOMING RESOURCES Transferfrom designated fund paIrS 16,7461 6.000 -746 76,824 £10,078 £838 I6.0) Unrealised Loss l Gain on Investment -7,904 82,114 8,854 9,392 4,710 76,824 8alances brought fornvard £16,461 £72,350 £22,726 £111.626 £102,134 Balan¢e$ cathed foEw8rd £66.350 £99 $50 £173 640 £111,526 Pe3
ELSTEAD PAROCHIAL CHURCH COUNCIL Notes to the Financial Statements for the Year ended 31st December 2022 ACCOUNTING POLICIES The financial statements have been prepared in accordance with the Church Accounting Regulations 2006, together with applicable accounting standards and the Charities, SORP 2005. The financial statements have been prepared under the historical cost convention, except for the valuation of investment assets which are shown at market value. Funds The General funds represent funds of the P.C.C. that are not subject to any restrictions regarding their use and are available for the general purposes of the P.C.C. Funds designated for a particular purpose by the P.C.C. are also unrestricted. Funds received for specific purposes are placed in a restricted fund. Incomlng Resources Planned giving, collections and donations are recognised when received. Legacies are brought in at the amount estimated by the executors as receivable. Income tax recoverable on gift aid donations is accounted for when recognised. Dividends and interest are accounted for when receivable. Unrealised gains or losses are accounted for on revaluation of investments at Balance Sheet date. Resources Expended Grants and donations are accounted for when paid over, or when awarded if that award creates a binding obligation on the P.C.C. The diocesan parish Share is accounted for when payable Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Consecrated and beneficed property of any kind Is excluded from the accounts by s.10 of the Charities Act 2011. However, the PCC is responsible for the insurance and maintenance of its consecrated property. All expenditure incurred in the year on consecrated buildings, on individual items under £10,000, or on the repair of movable church furnishings is written off. Movable church furnishings held by the Rector and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted as inalienable propety unless consecrated. They are listed in the church's inventory, which can be inspected at ary reasonable time. Other fixtures, fittings and office equipment Individual items with a cost of less than £900 are written off on acquisition. Items which are capitalised are depreciated on a straight-line basis over 5 years. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives for equipment this is at 20% on cost. Page 4
ELSTEAD PAROCHIAL CHURCH CO CIL Note to the Financial Statements 31st December 2022 Totsl Funds INCOMING RESOURCES Unrestricted Restricted Funds Funds 31 Dec 22 31 Dec 21 Income from:. Not¢s 21al Dono Parish Giving Scheme Gift Aid Donatlons Grft Aid Envelopes Other Planned Givsng Income Tax recovery olleclions lopen platel Sundry Donations Spècial Colledions 24,884 6,041 1,210 24,884 6,041 1.210 26,494 4,261 1,430 1,082 10,358 897 1,016 1,383 46,921 9.202 3,193 9.202 3.193 521 463 521 453 974 44,530 2Ibl Other Grants & Donations Billmeir Trust Legacies Fiiends of Sl Jarnes- see Note 7 Foodbank Surrey CC grant Foodbank Donations linc Tax Recl Pastoral Fund - Fue5 Poverty 7,000 7.000 7,000 2.900 18,250 12,316 1,000 31,586 18,250 12,316 1,000 38,566 11.000 2.190 200 23,290 7,000 21cl Inv&s ments Dividends & Interest 2,013 1,638 21dl ctlvlties to further P Parochial Fees Refreshment Sales Book of Remembrance Garden of Remembr3nc C ob'ectives 6,698 6,898 5.020 50 30 80 50 30 6,778 145 595 5,760 6,698 2101 Aetivltles to ene funds Elslèad Village News - Sales Elslead Village News- Advertising Church History Book Sales Christmas Card Sales 3,847 7.899 3,647 7.899 2,963 7,154 20 12 10.149 26 11,572 26 Fi14Fulure- reordering 73,855 73,855 4332 TOTAL INCOMING RESOURCES £71.813 £106,475 £178,288 £92,090 Year gnded 31st Decomber2021 92.090 Pag8 5
ELSTEAD PAROCHIAL CHURCH COUNCIL Notes to the Flnancial Statements 31st Decembgr 2022 Total Fund$ RESOURCES EXPENDED Unrestricted Restricted Funds Funds 31 Doc 22 31 Dèc 21 Ex endi on:. Notss 3{al Grants & Pa ments Grants- Sl James. School MissK)nary Giving Special Colle¢tions Foodbank Crisisl Pastoral Care Ourd Donations by PCC 1,613 2,800 1.613 2,800 974 23,255 1,339 50 30.031 1,200 3.300 1,383 10,771 1,601 351 974 23,255 1,339 50 4.463 25,568 31bl Costs r&latin to the work of the Church Diocesan Parish Share Ministry & Vvorship Paro¢hial Fees Church Repairs & Maintenance Church Gas, Electricty & Water Church Insurance Organist & Music Sundries Travel Examinerfs Fees Bank charges 8ook & Garden of Remembrance 39,508 491 4.492 2.581 2,201 1,675 1,395 39.508 491 4,492 2,581 2,201 1.675 1.395 41,519 915 2,923 2,587 1,386 1,623 1,092 381 132 450 107 419 53,534 500 82 82 100 100 100 52,925 31cl Parish Officè Office Salaries Office Phones & Broadband {Shared} Printing Costs (Shared) Office Expenses (Shared) 9,699 551 1.473 140 11,863 9,699 551 1,473 4,726 241 1,093 288 6.348 11.863 31d} Other Costs Advertising & Publictty Service Resources (Shared) Equipment Deprec*alion Rectory Expenses {Shared} Travel (Shared) Elstead Village New8 1,364 1,930 198 289 753 4,774 9,308 1,364 2,030 198 289 753 4,774 9.408 100 1.321 499 4,878 6,550 100 Ff(4Future- reordering 3,883 3,883 6.214 TOTAL RESOURCES EXPENDED £78,559 £29.651 £108,210 £91.252 Year ended 31st December2021 20.388 Note." "Shared"costs ar& net ofcontrlbulS from Thursley and Shacklefong & FeperH&rowp8nsh8s P6ge 6
ELSTEAD PAROCHIAL CHURCH COUNCIL Notes to the Financial Ststements Dgcember 2022 2022 2021 ALLOCATION8 St. James. Primary School Bishop of Guildlord Communities Fund Church Army Church Missionary Society Open Doors Step by Slep Covid relief in Nepal 1,614 700 600 600 700 200 1,200 700 700 700 700 500 £4,500 £4,414 SPECI L COLLECTIONS Step-by-step Funeral Collections Remembrance day Collection PCC membgrs & Clergy Gffts 453 299 133 397 280 1056 £974 £1,733 Totsl Allo¢ated and Speclal Collections £5.388 £6.233 FUND DETAILS Funds r&ceived during the year for specific purposes are held in the Restricted Fund and the unexpttnded balance5 8re carried forward for future use. A number of collections were raised during the year for specific char((ies, as shown al Note 8, and held in the Restricted Fund. Thes& have been remrtted during the year for the purposes for which they were reGeived. Foodbank and Pastoral Fund$ have been set up to serve the needs of the ¢ommunity. CAPITAL COMMITMENT The Parochial Church Council has Contracted wlh rts architects lo pay a fee of £26,400 for professional services on the Re-ordering Project. A total of £19,309 has been paid lo date. FIXED A ETS-E UIPMENT Cost De reciation Nel Book Value Acquired in the year Laptop Shed al Rectory 1,000 1.205 Depreciation 20% straight line 441 441 2,205 1,764 Page 8