Receipts and Payments Account for the year ended 31 December 2024 Unrestrthd Restricted Endowment Fun(ts Funds Funds 2024 2024 2024 Total 2024 Total 2023 Recei Donations.& plate collection Proceeds froffl Fund Ralslng Events Legacies Bank & Deposit interest Investment Income Rental Proceeds of Shared Rectory Fundraising Income Sale of investments Grants Receipts from General Trustees Other Receipts Receipts from Parish Organisations Collections for Third Parties 33,168 1.615 34,783 31.413 275 443 417 455 7.924 275 443 1,676 455 7,924 604 419 li 27 1,232 1,171 1,810 8,061 364 5,543 364 5,543 359 8,016 2,237 2,372 1,974 1.974 Total Recei 48.589 3,616 1,232 53,437 56,462 Pa ments Wascs and Salaries Diocesan Costs / Assessment Church Running Costs Church Building Repair Glebe Costs Collection for Third Parties Administration Costs Fundraising Costs Charitable Donations Gifts Payments from Parish Organisations Investment expenditure Purchase of Laptop Total Pa ments 25.408 8.605 5,165 1.276 1,712 li 2.386 1,163 25,408 8,605 5,165 1,903 1,712 1,985 2,386 1.163 22.543 8,290 5,163 991 2,072 2,372 2,265 1,259 627 io 1,974 200 200 842 200 1,321 li 583 47.351 583 49,952 2.601 46.476 Excess of Receipts over Payments for the year before transfers L238 L015 L232 3.485 9.qA6 Transfer5 1.238 1.015 1,232 3,485 9,986 On Behalf of the Trustees Trustee I Trustee 2
Statement of Assets and Liabilities a5 at 31" December 2024 Unrestricted Funds 2024 Restricted Funds 2024 Endowment Funds 2024 Total 2024 Total 2023 Cash Funds Current Accounts Deposit Accounts Total Cash Funds 68394 10,600 78,994 50.403 118.797 10,600 129397 116,722 10,449 127,171 50.403 Investment A55ets Equity Investments Other Listed Investments Investments in RCB/ CIT Unit Trusts Other unlisted investments 17,254 18342 17.083 Investment Properties Totsl Investment 1.088 17354 18.342 17.083 Assets retained for the Parish'5 own use Parish Centre Glebe House Fixtures and Fittings Total Assets retained for the Parish's own 108,000 583 108,583 108,000 583 108.583 108.000 108.000 use On Behalf of the Trustees Trustee I Trustee 2
Notes to the financial Statements for the year ended 31 December 2024 l. Accounting policies Set out below a the principal accounting policies which have been adopted in the compilation of the Receipts and Payments Account and the Statement of Assets and Liabilities (a) Receipts and Payments Account All items of income and expenditure induded within the Reipts and Payments Account have been accounted for on 3 cash receipts basis. {b) Statement of Assets and Liabilities {1} Assets retainedfor the Parish's own use The assets of the Parish. retained for its own use comprise:_ Church Buildlng and Graveyard Parish Hall Fixtures and fittings 45% Share of New Rertory The Church Building and Graveyard are deemed to be Heritage assets as defined by the Charities SORP {FRS1021 These Heritage assets are not included in the statement of assets and liabilities as infomiation on the c05t or valuatiori 15 not available and such infonyjation cannot be obtained at a c05t commensurate with the benefit to the users of the accounts and to the parish. The Parish Hall was built in 1894. The are no reliable records of the c05t of thi5 construction and valuation approach for such a building lacks sufficient reliability- As a result this building is not recognised in the Parish statement of assets and liabilitie Fixtures and Fittings are deemed to be Heritage assets as defined by the Charities SORP {FRS1021. These fixtures and fittings are artefacts contained wtthin the Church Building and their preservation and contribution to culture are ancillary to faith and other purposes. Heritage assets are not induded in the statement of assets and liabilities as information on the cost or valuation is not available and such information cannot be obtained at a cost commensurate with the benefrt to the users of the accounts and to the parish. The three Parishes have purchased a property betsveen them to be used as the new Rertory. Scarva Parish maintain 45% control over this property. Their 45% share of the new rectory building is valued at £108,000. il) Investments Fixed asset investments comprising investment properties. investments in equities (ordinary share51 and investment in RCBICIT Unit Trusts are Initially recorded at cost and are then subsequently ststed at fair value at each year end date. The revaluation surplus or shortfall is then included alongside other incoming or outgoing resources. Investments in unquoted investments a recorded at cost and are assessed annually for impainnent. 10
Notes to the financial 5tatefflents for the year ended 31 December 2024 (continued) Reconclliation of Cash Funds Total Cash Funds at Beginning of the year Receipts for the Year Payments for the Year Total Cash Funds at end of the year 144,254 53,437 49.952 147,739 Movement In Funds Atljan 2024 Incoming Resources Outgoing Resour At 31 Dec 2024 Transfers Endowment fvnd5 Investment in RCB General Unit Trust Mrs E Reilly Composition Balance from Rev W. Armstrong Mrs E Liggett Donation Mrs A E Drury & Mrs E Reilly Benefaction Rev. W Amstrong Donation Investment in CIT Unit Trust Mrs Constance Taggart Bequest Albert Freeburne Bequest Rev Canon P Kelly Bequest C Moffett Bequest Mrs Constance Tag8art Bequest 213 216 2,595 159 42 2,637 162 852 70 14 866 71 6.515 1.530 221 3.218 649 16,022 628 147 7,143 1,677 242 3,528 712 17,254 21 310 63 1.232 Restricted funds Building Fund RCB Glebe Deposit Fund Collection For Third Parties RC8 Youth Fellowship Friendly Club Gifts 48.106 L615 -627 49,094 1,974 -1,974 1,309 1,309 Investment in RCO General Unit Trust Church Insurance Bonus Church Officers Composition Bonus Glebe Profit Sale Parochial Funds Transfer from General Sustentation Fund Investment in aT Unit Trust Raised By Parishioners li li 470 478 379 385 91 93 iio li 3.616 121 Sl.491 50,476 -2,601
Notes to the finoncial ststements for the year ended 31 December 2024 (continued) Unrestricted funds General Fund Fixed Term Deposits 67.307 10,449 48.438 151 47,351 68,394 10,600 RCB General Unlt Trust 77.756 48,589 47,351 78.994 Total fund5 144.254 53,437 49,952 147.739 Pur 0se5 of Endowment Funds Investment in RCB General Unit Trust cornprrses ten individual trust funds. There are five funds which are solely to do with endowments. They are as follows: Mrs E Reilly- Income from this fund is to assist with Augmentation Composition 8alance from Rev W. Am15trong- Income from this fund is to assist with the Stipend Mrs E Liggett Donation- Income from this fund is to asslstwith the Stipend and the Condition ofthe Grave. Mrs A E Drury & Mrs E Reilly Benefartion-lncome from this fund is to aSSi5t with the upkeep ofthe Church, Rev. W Armstrong Donation- Income from this fund is to assist with the Stipend. Investment in CIT Unit Trust compri5e5 six individual trust funds. There are five funds which are solely to do with endowments. They are as follows: Mr5 Constance Taggart Bequest- Income from this fund is to assist with the Stipend. Albert Freeburne Bequest- Income from this fund is for general Church purposes. Rev Canon P A Kelly Bequest- Income from this fund is forsunday School prizes. C Moffett Beque5t- Income from this fund is for general Church purposes. Mrs Constance Taggart Bequest- Income form this fund is for Grave and general Church purposes. Pur 05e5 of Restricted Funds Investment in RCB General UnitTrust comprises ten individual trust funds. There are five fund5 which are restricted. They are as follows: Church Insurance Bonus-This fund is to assistwith the Stipend Church OfFicers Composition Balance- This fund is to assist with the Stipend. Rectory Profit Sale- This fund dertves from the sale of the rertory property and is to be used for the benefit of Scarva Parish in a way to be agreed by the RCB, Diocesan Council and Scarva Select Vestry. This was used in 2022 to purchase a new Rectory. This fund is now closed. Parochial Funds-This fund is to assist with the Stipend. Transfer from the General Sustentation Fund- This fund is to assist with the Stipend. Investment in CIT Unit Trust comprises Six indNidual funds. There is one fund which is restricted as follows: Raised By Parishioners- This fund is to a55iSt with the Stipend. Building Fund-The purpose of this account is to assist with the maintenance and renewal of the Church property. Collection For Third Parties-This fund derives from the collections for third partie5 within Church Life. RCB Youth Fellowship-This fund derives from monie5 donated by RC8 for'steadfast Youth Fellowship.. Friendly Club-This fund derives from monies donated or paid by members of the Friendly Club and their associates. The purpose of this fund is to be used for the benefit of the Friendly Club. 12
Note5 to the financial statements for the year ended 31 December 2024 (continued) Pur oses of Desi nated Funds General Fund= This fund covers all expenditure and receipt transactions except for those which demand separate fund accounting. This fund is to assist with all areas of the Church Life alongside the maintenance and upkeep of all the Church Assets. Fixed Terni Deposit Funds- This is comprised of four separate funds, tsvo of which are in the local Danske Bank, another within Progressive Building Society and finally a National Savings and Investment Account. The solv purpose of eath account15 to galn Interest whlch Is then relnvesied until a time when it is needed for the purposes of Church Life. The Bequests which have been placed into these accounts over a period exceeding sixty years are The Shepherd Bequest11955). The Marshall Bequest11962), The E Purdy Bequest {1976), The Mrs J Riddell 8equest11976) and the Rev TGD Andrews Bequest {1993). Collections for Thlrd Parties 2024 2023 Royal British Legion Collection Southern Area Hospice Collertion Re- LOL 116 UCB RAF Benevolent Fund B Positive Bishop Appeal 102 76 643 454 52 446 52 250 447 1.147 2,372 1,985 The above amounts have been included in Receipts for the Year under °Collections for Third Parties" and in Payments for the year under"Collection5 for Third Partie5". Ml payments out had been completed by the year end. 5. Transartions with the Trustees Rev. Rodney MaBennis, trustee, received a stipend for £21.352.92 in relation to his professional services as Minister in charge of the Parish for the year January- December 2024. Rodney Dillon, trustee, received a payment totalling £800 for services as Caretsker to the Parish. Anne Campbell, trustee. received expenses of £1,51)J for the provision of musical services as Organist of the Parish. Norman Toombs, trustee, received a payment totallin8 £627 for painting the Church building. 6. Governance Costs Governance costs of £1,650 were incurred during the year of which £1,650 relates to fees paid to the Independent Examiner. Governance costs are included within Administration costs in the Receipts and Payments Accounts. 13
Notes to the financial statements for the year ended 31" December 2024 (continued) 7. Church Running Costs 2024 2023 Electricity Church Insurance Water Rates Church Repairs Fire & Defence Communion Wine Parishioner 100 Birthday Safeguarding Trust 1,813 1.941 360 684 iii 2,620 1,735 384 270 96 90 58 58 5.163 5.165 The above amounts have been included in Payments for the Year under"Church Running Costs." 8. Other Recelpts 2024 2023 Graveyard Donation and Fees GiftAid Energy Support Grant 1,0 4,528 2,450 4,366 1,200 8.016 5,543 The above amounts have been included in Receipts for the Year under"Other Receipts." 9. Wages and Salaries 2024 2023 Stipend Annual Leave Cover PAYE Vacancy Duty Sexton Organist Caretaker 21,353 180 375 18,238 430 375 1,2(K) 1.500 800 25,408 1.200 1.500 800 22.543 The above amounts have been included in Payments forthe Year under TrVage5 and Salories.. 14
Notes to the financial statements for the year ended 31" December 2024 Icontinued) 10. Share of Glebe Cts 2024 2023 Rates 633 1.345 iii 616 2.072 Insurance Purchase of Glebe House- Legal and Professional Cost 1.079 1,712 11. Investment Income and Expenditure 2024 2023 Investment Income Scheme Income Revaluation on RCBICIT Investments {Gainl Board of Education RCB Distribution 271 1.260 250 690 97 134 145 1.676 1,171 The above amounts have been included in Receipts for the Year under"Investment Income." Investment Ex enditure Devaluation on RCB Investment (Loss) The above amount has been included in Payments forthe Year under"Investment Income.. 15