ST MARY'S EPISCOPAL CHAPEL CASTLE STREET, READIf+4G FINANCIAL STATE,NIENTS FOR THE YEAR TO 31ST DECE.MBER 2023
ST. MARY'S EPISCOPAL CUAPEU CASTLE STREET, READINC. INDEPENDEf4T EXAMINER'S REPORT ON THE FINANCIAL STATEMENTS I have examined the financial statements of Si. Mary's Episcopal ChApel for the ye8r cnded 3 1ST December 2023 whsch compris¢ the R¢c¢ipts ind Payments Ac¢ouni, the Statement of Assets and Liabilities ind the related noies. RESPECTIVE RESPONSIBILITIES OFTRUSTEES AND EXAMINER The ¢hArity'S Irustees are responsible for the preparaiion of the financial slJiemenlS. The ehtsrily's tTusie¢s consider that an audit is not required for this year undei s¢¢(ion 144 of Ihe chari11 A¢t 2011 Ith¢ Ch4riti¢$ A¢1) and lha¢ an independeni examination is needed, li is my responsibiliry to.. examine the financial stai¢m¢nis yndtr stttx)n 145 of the Chariiie5 Arl. 10 follow Ihe pr¢xedure5 laid down in ihe 8¢neral Direciions 8iven by the Charity Commission (under $e¢tiort 14515)Ibl of the Charili¢$ A¢1, ond 10 $18ie wheiher particular maiiers hove come w my )iien¢iot). BASISOF INDEPENDENT EXAMINER'S sfATEMENT My examindiion wo$ ¢4rTied oui in Acctsrdon¢e with general Dire¢iions 8iv¢n by the Charity Commission. An ex8minaiion includes o revi¢w of lh¢ accounting T¢cor&% kept by Ihe chority und y ¢omp4ri¥on of Ihc fin8ncig1 aiements prestnied wiih those records. 11 also includes consideration of any unusual iiems or disclosurcs in Ihc *ccounts, and s¢eking explonatlOll5 Irom the Irustee$ toneerninE Any such mattcrs. The proccdurcs undcrtakcn do noi provide 811 the evidence thai would be required in an ftudii, ond eonscqucrtily no opinion LS 8iven a5 10 whctheT the financial sia(emenl$ pre8¢nl A 'true And fair. Yiew and the report is limiied 10 ¢hos¢ Sei oul in the sllllement below. INDEPENDENT EXAMINER'S STATEMENT In eonneclion with my ¢xan)inalion, no niaiier his come to my aiienlion which 8iv¢$ me r¢a$oftable eause io believt Ihai In, 8ny n)aieiial Tespeci, thE requircmcnts.. lo kccp accounlin8 re¢ord¥ in accord8ncL wilh scciiun 130 of the Chariiie4 Act.. ond lo prepare finllncial %iaiemenis which accord willi lh¢ ac¢oun¢ing records and comply wilh Ihe a¢<oiiniin8 rLquircnicn15 orth¢ Charili¢$ Aci h8v¢ nol en m¢l- or 2. lu whiLh, in my opiniun, allcnlion shuuld bl dttrwn in or(l¢r iu enable g proper under5tandin8 ¢)f tk¢ financial SlalEmenlS 10 be reached. L4 7 hli4- Philip J. Nixon F.C.A. EDWIN SMITH CHARTERED ACCOUNT ANTS 32 Queens Road R¢3ding RGI 4AU 22 July 2024
ST MARY'S EPISCOPAL CHAPEL RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR TO 31ST DECEMBER 2023 2023 Total 2022 Total Unre5tricred Funds Restricted Funds INCOMING RESOURCES Donations and gifts Intercsl Income lox reclaimed Other income Rental income Investinent income 24.579 24,579 21,872 3.440 3,440 4.664 29,582 29.582 30.286 1,076 1,081 TOTAL INCOMING RESOURCES 57,601 1,081 58,682 57,898 RESOURCES EXPENDED- see note 2 Chariiable expcnditure Grants Support costs Man&8¢m¢nt and 8dminisiration 3,391 55,940 3,39J 3.391 55,940 3,393 6,574 59,971 2,855 TOTAL RESOURCES EXPENDED 62,724 62,724 69.400 NE.T INCOMINGIIOUTGOING) RESOURCES BEFORE TRANSFERS -5,123 1,081 .4,042 11,502 Gr05S transfeT5 between fund$ 1,081 -1,081 NET INCOMINGI(OUTGOINGI EiESOURCES AFTER TRANSFERS .4,042 4.042 .11,502 Gains and 105se8 on investment revaluations Revaluation of tpn8ibl¢ fixed lls5¢t$ 119,726 .2.323 1,879.248 117,403 1.879.248 51,936 56,125 NET MOVEMENT IN FUNDS 11 5.684 1,876.925 1,992,609 96,559 TOTAL FIJNDS BROUC7HT FORWARD 867,(K)2 12,385,589 13,252,591 13,156,032 TOTAL FUNDS CARRIED FORWARD 982,686 14,262,514 15,243.200 13,252,591 All the charity's operations are continuing operation5 and thcre were no opcraiions discontinued or acquired during the year.
ST MARY'S EPISCOPAL CHAPEL STATEMETriT OF ASSETS ATr41) LIABILITIES AT 31ST DECEMBER 2023 Note 2023 2022 FED ASSETS Tangible fixed assets Inv¢stments 14,228.299 1,012.625 12,349,051 895,222 15,240.924 13.244,273 CLRRENT ASSETS Debtor Lloyds Bank 500 7,588 500 10,220 TOTAL CURRENT ASSETS 8.088 10,720 CREDITORS.. amounts falling due within one year Pajmll deduetiotjs Aceruals 1,242 2.570 1,218 1.184 TOTAL CURRENf LIABILITIES 3,812 2,402 NET CURRENT ASSETS 4,276 8,318 NET ASSETS 15,245,200 13.252,591 INCOME FUNDS Unrestricted Restrietrd 982,686 14,262.514 867.002 12,385,589 TOTAL FUNDS 15,245.200 13,252,591 Approved by the Trustees on 8 May 2024 and Sie on their behalf by MR Clements The notes on pages 4 and 5 forni part of these a¢counts.
ST.IIARY'S EPISCOPAL CHAPEL NOTES TO THE ACCOUNTS FOR THE YEAR TO 31ST DECEMBER 2023 ACCOUNTING POLICIES The accounts have been prepayed on a receipts and payments basis. Legacies ar¢ included in in¢oming resources when rec¢ived. The gains and losses on investment5 includ¢ reinvested incomc as w¢ll a5 r¢alised and ut)realised gains and losses. The llble fixed assets and investment property are shown at insurance values and the other inv¢slmenls are Sho% at tnarket value at the year end. RESOURCES EXPENDED Unrestricted FuTrds Restricted Funds 2023 Total 2022 Total CHARITABLE EXPENDITURE Grants.. F.aster offerings Missions 744 3,391 3,391 3,391 6.574 Support ¢05ts'. Electricity, gas and water Sundries Insurance Minister's stipend and pensioD Minister's house and expen5e5 Clertc&l aid OrganÉst's fees Repairs and main¢eDanrx Legal alld planning Health and Safety advice 4,833 733 7,707 31,844 4,143 4.833 733 7,707 31,844 4.143 4.201 302 7.305 27,963 5,172 207 14,821 5,302 1,378 5,302 1.378 55,940 35,940 59,971 Mana8ement and administration.. Staiionery and computer Costs Audit and accountancy Telephone 1.216 1.386 791 1,216 1,386 791 805 1,300 750 3.393 3,393 2,855 There was onc employec during the y¢ar. The salary cost iL)cluding pension premium5 was £31,844 (2022 - £27.9631. No remuneratioD was paid and ng expenses reimbursed to trnstees durillg the year.
ST.MARYfs EPISCOPAL CHAPEL NOTES TO THE ACCOUNTS FOR THE YEAR TO 31ST DECEMBER 2023 TANGIBLE FIXED ASSETS - shown at insurance values 2023 2022 Chapel- buildin8 and con*nis (including organ) Parsonage 13,300,(K)O 928.299 14,228,299 11.590,000 759 051 12,349,051 INVESTMENTS 2023 2022 Inve5ttnent prop¢rty COIF ChaTiIEes Investment Fwid- In¢ome Units Investment portfolio- Natwest In¢s1M¢Dt Ma]Vdgemeni Limited 867,780 34,215 110630 751,634 36,538 107050 ,012,625 895.222 The iuv¢stnKnt property is shown at insurance value and the other inve5rments at market value. The investment property is held for the undesignated unrestricted fund5. The COIF investments &re held a5 restricted funds and are tshown at market value. The investmeni portfolio is matiaged by Naiwest Inyesmieni Management Limited under their portfolio mana8emetJt Service and is shOL at market value. RESTRICTED FUNDS These funds represent the tangible fixed a55ets which are all held for the charitls use and the COIF Charities Inv¢stmenl Fund income units. DESIGNATED FUNDS Th¢ in¢ome funds of the Charity include the following desiwted filnds which have been set aside out of unrestricted funds by th¢ trustees for %p¢cifi¢ purpow.. Balance In¢om4W¢w 31.12.22 Designations Utilise(V Releas¢d Balance 31.12.23 Missions Church of England {Continuin8) Fund 743 103 846 3,857 3.288 103 3,391 1,312 3,857 1.312 Und¢signated funds 866,156 981.374 Unresrricted fimds 867,002 982,686