ANNUAL REPORTS, FINANCIAL STATEMENTS FOR 2009 AND MINUTES OF ANNUAL MEETING HELD 25 APRIL 2010

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF
ST FAITH, HAVANT

ANNUAL REPORT
AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31ST DECEMBER 2009

1.              ADMINISTRATIVE INFORMATION
(as at 31st December 2009)

Full Parochial Name                        St Faith’s Church, Havant,
with St Nicholas Chapel, Langstone

Registered Charity No.                    1128278

Location                                              St Faith’s Church is situated in West Street, Havant.
The chapel of St Nicholas is in Langstone to the south of Havant.

 Incumbent                                           The Reverend Canon Peter Jones (from 1 June 2009)
The Rectory, 5 Meadowlands Havant PO9 2RP

Other PCC Members                        Prof Jan Stuart (Church Warden)

Dr Graham Frost (Church Warden)

Mr Roger Bryant (Hon. Secretary)

Mrs Helen Faulkner (Hon. Treasurer)

Mrs Sandra Haggan

Dr Michael Fluck

Mr Colin Carter

Mrs Shirley Caunter

Mrs Fiona Hedley

Mrs Anne Plater

Mr Martin Poliszczuk

Mrs Jenny Sagrott

Mr William Skilleter

Mrs Rosemary Thomas

 

Church Office                                    Church House, The Pallant, Havant PO9 1BW

Main Bankers                                    CAF Bank
25 Kings Hill Avenue, Kings Hill, West Malling
Kent ME19 4JQ

 Independent Examiner                    R M L Perry
Morris Crocker, Chartered Accountants, Station House,
North Street, Havant, Hants PO9 1QU

 

2.              Structure & Management

St Faith’s Church is the principal church of the Havant Deanery in the Diocese of Portsmouth within the Church of England.

Incumbent

At the start of 2009, St Faith’s was in a vacancy following the departure of the previous incumbent, the Reverend David Gibbons, on 31^st July 2008.

The process of finding a replacement incumbent began in August 2008.  The PCC chose to let the Bishop nominate candidates, rather than advertising nation-wide, the latter being at St Faith’s expense.  Having failed to identify a suitable candidate, the Bishop advertised the post in November 2008 (at no cost to St Faith’s); two applicants were interviewed but no appointment made.  The Bishop then nominated a further candidate as a result of which we were delighted to welcome the Reverend Canon Peter Jones as our incumbent.  Peter was inducted on 1 June 2009.

During the vacancy, the church affairs were the responsibility of the two Church Wardens.  This put a considerable workload on them and the remainder of the PCC.

Parochial Church Council (PCC)

The method of appointment of PCC members is as set out in the Church Representation Rules.  All church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC.

PCC Members who have served since 1 January 2009 until the date of this report are:

Incumbent                                           The Reverend Canon Peter Jones (from 1 June 2009)

Church Wardens                               Prof Jan Stuart – PCC Chairman until 31 May 2009

                                                               Dr Graham Frost

Representatives                                 Dr Michael Fluck

On Deanery Synod                            Mrs Sandra Haggan

Elected Members                              Mr Roger  Bryant (Hon Secretary)

Mrs Helen Faulkner             (Hon Treasurer)

Mr Colin Carter

Mrs Shirley Caunter

Mrs Fiona Hedley

Mr Andrew Peacock (from 29 March 2009 until 18 May 2009)

Mrs Anne Plater

Mr Martin Poliszczuk

Mrs Jenny Sagrott

Mr William Skilleter

Mrs Rosemary Thomas

Mr Jeremy Toole (until 23 November 2009)

Mrs Sylvia Willey (until 26 January 2009)

The full PCC met ten times during 2009 with an average attendance of 79%.  Meetings were reported regularly in the monthly parish magazine, “Faith Matters”.

The PCC was supported in its duties by 4 committees:

Standing Committee                         Incumbent - Reverend Canon Peter Jones (Chair from 1 June 2009)

Church Warden - Prof Jan Stuart (Chair until 31 May 2009)

Church Warden - Dr Graham Frost

Hon Secretary - Mr Roger  Bryant

Hon Treasurer - Mrs Helen Faulkner

Mr Colin Carter

Buildings Management                   Mr William Skilleter (Chair)

Committee (BMC)                             Mr Peter Appleby (Secretary)

Mrs Anne Plater

Mrs Jenny Sagrott

Mr Paul Utting

Property Development                    Prof Jan Stuart (Chair)

Group (PDG)                                      Mr Colin Carter (Secretary)

Mr Andrew Grant

Mrs Sandra Haggan

Mrs Sybil Laird

The Reverend Canon Peter Jones (from 1 June 2009)

Finance Committee                          Hon Treasurer - Mrs Helen Faulkner (Chair)

Mr Colin Carter

Mrs Sandra Haggan

Mr Roger Simmons

The Standing Committee, Buildings Management Committee and Property Development Group met regularly during the year, the latter two giving written reports to each PCC meeting.  The Finance Committee was formed in July 2009 and met 3 times during September, October & November.

Church Staff

The stipendiary and salaried staff team comprises:

Incumbent                                           The Reverend Canon Peter Jones (from 1 June 2009)

Verger                                                  Mrs Vicki Mockford (until 31^st August 2009)

Director of Music                              Mrs Sylvia Willley (self-employed)

Part-time office administrator      Mrs Clare Kennar

There is also:

Reader                                                 Dr Trevor Hopkinson

Reader in training                            Mrs Sandra Haggan

The Reader in training will complete her second year training in readiness for licensing in September 2010.

Charitable Status

In common with all other Church of England PCCs, St Faith’s PCC has been recognised as a charity for many years, but was exempt from the requirement to register with the Charity Commission.

Under the terms of the Charities Act 2006, the Parochial Church Council (PCC), having an annual income in excess of £100,000 is now registered with the Charity Commission; this registration was confirmed on 26th February 2009.

Accountability

The PCC is fully aware of the risk factors involved in the running of church affairs and continues to ensure that all our properties are adequately insured, including public liability.  We have a Health and Safety policy which our officers follow and have implemented the Disability Discrimination Act.

Our Child Protection Officer, Fiona Hedley, who is a member of the PCC, has ensured that the Child Protection Policy approved by the PCC, has been applied across all church activities as well as ensuring that the owner of the private nursery which hires rooms in Church House is aware of our child protection responsibilities.

Public Benefit

The Trustees are aware of the Charity Commission’s guidance and requirements on public benefit in The Advancement of Religion for the Public Benefit and have had due regard to it in their administration of the PCC. As a part of its general promotion of the whole mission of the Church, the PCC provides a benefit to the public by:

·         providing facilities for public worship, pastoral care and spiritual, moral and intellectual development, both for its members and for anyone who wishes to benefit from what the Church offers; and

·         promoting Christian values, and service by members of the Church in and to their communities, to the benefit of individuals and society as a whole.

3.              Objectives & Activities

The principle function of St Faith’s PCC is promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical.

St Faith’s PCC has responsibility for St Nicholas Chapel in Langstone and the following properties which are either let on tenancy agreements or hired out either on a regular or one-off basis:

• Parish Hall complex, including Church House and Coach House;
• Christchurch Centre and Christchurch Bungalow, Havant
• Nos 1 & 2 Churchfields, Havant

The incumbent and the 2 Churchwardens are also Trustees of the Church Institute which is responsible for 2/4 North Street, Havant.

The planning and resourcing of Sunday and weekday Eucharistic and non-eucharistic services and the conducting of occasional offices (see below) give rise to careful and extended preparation in relation to Christian Initiation and Holy Marriage as well as bereavement visiting.  Home Communion is administered by three laity licensed for the purpose.  See ‘Development’ section for significant new activity in secondary and tertiary educational establishments which extends out ongoing work with children in four local primary schools.

In support of its objectives and responsibilities, St Faith’s also runs a number of support groups, including:

·         Sunday Club

·         Youth Church

·         Young Believers Club

·         Bible Study Group

·         Women’s reading group

·         Prayer Group

·         Communion before Confirmation classes

·         Confirmation classes

·         Lent Groups

·         Men’s Group

·         Ladies Group

·         Art Group

A review of objectives formed an essential part of the Rapid Parish Development Programme which formally began in November.  See ‘Developments’ section.

Occasional Offices

Of the services performed in St. Faith’s Church, there were:

Baptisms:                   16

Confirmations:          3*

Weddings:                   5

Funerals:                     3#

* These appear in the Confirmation Register undated but having taken place since 2007.

# since 1^st June 2009.  There were no records of funerals 1^st Jan – 31^st May 2009.

4.              Review of 2009 Activities & Achievements

Church Attendance

There are 165 parishioners on the Electoral Roll.

The average weekly attendance, counted in October 2009 was 88.  This increased at the Easter, Christmas, Civic and Remembrance Day services; the attendance on Christmas Eve and Christmas Day (combined) was 813.

These figures are used by the diocese to determine the parish share to be paid by St Faith’s to support the running of the diocese.

Ecumenical and Wider Church

Throughout 2009, St. Faith’s continued to take a full part in the life of the Deanery and Diocese.  There are two Deanery representatives on Deanery Synod.

St Faith’s was represented consistently on the Churches Together in Havant and Bedhampton group.

Charitable Support

St. Faith’s has continued to support two particular missions: the missionaries in Sendai, Japan through the ministry of Rod and Glenda Thomas under the auspices of Overseas Missionary Fellowship (OMF) and the parish of St John the Divine, Nsawam, Ghana through the Inter Diocesan West African Link (IDWAL), in which the Portsmouth Diocese is linked to Ghana.

St. Faith’s also supports a boy in Boystown, India and has supported other charity organisations as nominated by the PCC.

Publicity & Communications

“Faith Matters”, the monthly parish magazine, was published each month in 2009 as in previous years.  Each contained varied articles, puzzles and a “what’s on” feature to keep parishioners informed about parish life.  A summary of the meetings from the PCC, PDG and BMC were also included.  The magazine continued to be self supporting, gaining its income from magazine sales and advertisements.  Circulation was around 175 copies per month.  Colin Carter and his wife Beryl are to be commended for their efforts in publishing this efficiently each month.

St Faith’s also has its own Website - www.stfaith.com - which is very well established and attracts interest and correspondence from around the world.  It was maintained up to date throughout 2009.  The magazine editor is also the Website manager.

The Weekly Bulletin continued to be produced for the Sunday services, highlighting events taking place in the near future.  It also contained the readings for the 9.30am Sunday Eucharist.

Development

The new Incumbent has undertaken a review of the parish aims in the light of previous development plans and our current finances.  Consultants have been engaged to facilitate this review, titled Rapid Parish Development.  The first session was held in November 2009.  This was open to all members of the congregation and attracted a lot of interest and support.  Further meetings have been held in early 2010.  The report is due in Spring 2010.

Negotiations, which are still ongoing, took place with the Dynamo Youth Theatre for their use of our Hall.

Our properties at Christ Church (Centre and Bungalow) are now let together with Churchfields (Nos 1 & 2).

The new incumbent assumed the responsibilities specified in the Schedule of Agreement under the new partnership between the Diocese of Portsmouth and Warblington School.  The parish is encouraged to forge links and the Rector has access to worship in the school and to its curriculum development as well as providing drop-in chaplaincy services.

The new incumbent was formally appointed Chaplain to Havant College of Further Education in December 2009.

He continues his diocesan responsibilities as Bishop’s Advisor on Inter Faith Matters, and Bishop’s Clerical Examiner for prospective ordinands.  He agreed to act as Mentor and to deliver the Initial Ministerial Education (4-7) programme to the five assistant curates planning to serve titles on the mainland part of the diocese, commencing in July 2010.

Social & Fundraising Events

Social & fundraising events took place through 2009.   Of particular note in inviting the community into the church and raising funds for the Restoration and Redevelopment Appeal are:

·         Coffee mornings

·         Concert by Snohomish Choir in aid of Organ Fund

·         St Celia’s Day concert with Bosmere Junior School

·         Town Fair

·         Deanery Fair-Trade Fashion Show

·         Havant Rotary Community Carol Service

 

5.              2009 Financial Review

In comparison with the previous year, 2009 saw an improvement in overall finances. The main factors were:

·       Christchurch Centre and Christchurch Bungalow were both let in the year.

·       Churchfields 1 & 2 were both also let.

In the case of Christchurch Centre, the lease agreement required payment of £16,000 up front for the first 15 months.  This means that there will be no more rental income until August 2010, a factor which has been taken into account in preparing the 2010 budget.

There were unforeseen repair costs associated with the failure of fabric within many of our buildings; the 2010 budget will not rectify this but future budgets must do so. Whilst all properties required repairs, there was a net income from property.

As in other years, St Faith’s continued to pay all bills and the parish share promptly and in full.

For the Restoration and Redevelopment appeal, parishioners once again put significant time and effort into fundraising, raising a total of just under £6,500.

There has been some adjustment of funds at year end to establish the values agreed by the PCC; specifically the organ fund and Lighting / CCTV fund.  The restricted robes, piano and youth club funds were all spent by end 2009 through the purchase of choir robes and the A Frame for the piano, and youth club activities.

In preparation for the diocesan Stewardship Renewal Service in September, it was agreed that in view of the overall poor level of planned giving at St Faith’s, currently half the national average (source: Diocesan Stewardship Advisor), a well founded campaign would need to be undertaken at the earliest opportunity.  Advice would be sought as to whether such a campaign might also include an appeal for monies towards specified capital projects relating to repairs and renovations detailed in the 2009 quinquennial inspection report.

The new incumbent noted the absence of any report on stewardship in the 2008 Annual Report.  A clear analysis of current giving trends is a prerequisite for planning future campaigns and annual renewal services and events.

It was noted that the 2009 budget had not been prepared on a basis of planned growth in specific areas of mission.

6.              Reserves Policy

It is the policy of the PCC to maintain unrestricted funds, which are the free reserves of the PCC, at a level which equates to three months’ unrestricted expenditure.  This provides sufficient funds to cover parish management and administration as well as the activities directly relating to the work of the Church.  It is our policy to invest surplus funds with the CBF Church of England Deposit Fund.

 

We confirm that unrestricted funds were maintained at this level throughout 2009.

 On behalf of the PCC

 ……………….

The Reverend Canon Peter Jones

Incumbent

 Date

7.              STATEMENT OF RESPONSIBILITIES

The members of the Parochial Church Council are required to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the PCC and of the surplus or deficit of the PCC for the period.  In preparing those financial statements, the PCC is required to :

1)         select suitable accounting policies and then apply them consistently;

2)         make judgements and estimates that are reasonable and prudent;

3)         prepare the financial statements on the going concern basis unless it is inappropriate to presume that the PCC will continue in operation.

The members of the PCC are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the PCC.  They are responsible for safeguarding the assets of the PCC and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 St Faith’s PCC confirms that it is aware of these responsibilities and that it has exercised them to the best of its ability.

 Signed:

 The Reverend Canon Peter Jones

Incumbent

 Date: …………………….

Accounts

STATEMENT OF FINANCIAL ACTIVITIES
For year ended 31 December 2009

					2009	2008
		Unrestricted	Restricted	Endowment	Total	Total
		Funds	Funds	Funds	Funds	Funds
	Note	£	£	£	£	£
INCOMING RESOURCES
Voluntary income	2a	62,200	570	-	62,770	40,202
Church activities	2b	59,300	0	-	59,300	36,001
Activities for generating funds	2c	18,019	356	-	18,375	23,536
Income from investments	2d	3,500	0	-	3,500	7,062
TOTAL INCOMING RESOURCES		143,019	926	-	143,945	106,801
RESOURCES EXPENDED
Church activities	3a	103,168	22,798	-	125,966	115,421
Governance costs	3b	1,212	0	-	1,212	1,725
Staff costs	3c	10,199	0	-	10,199	14,123
Fundraising costs	3d	50	0	-	50	40
TOTAL RESOURCES EXPENDED		114,629	22,798	-	137,427	131,309
NET (OUTGOING)/INCOME RESOURCES		28,390	(21,872)	-	6,518	(24,508)
TRANSFERS  BETWEEN FUNDS						-
LOSSES/GAINS ON INVESTMENTS	5b	974	-	1,378	2,352	(9,981)
NET MOVEMENT OF FUNDS		29,364	(21,872)	1,378	8,870	(34,489)
BALANCES BROUGHT FORWARD AT 1 JANUARY 2009		50,228	51,328	426,294	527,850	562,339
BALANCES CARRIED FORWARD AT 31 DECEMBER 2009		79,592	29,456	427,672	536,720	527,850

 

BALANCE SHEET At 31 December 2009

 

			2009		2008
		Note	£	£	£	£
FIXED ASSETS
	Tangible fixed assets	5(a)		380,703		380,721
	Investment assets	5(b)		60,416		58,064
				441,119		438,785
CURRENT ASSETS
	Debtors	7	17,131		3,047
	Cash at bank and in hand		87,391		88,641
			104,522		91,688
LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR		8	(8,921)		(2,623)
				95,601		89,065
NET ASSETS				536,720		527,850
FUNDS
Unrestricted		9		79,592		50,228
Restricted		9		29,456		51,328
Endowment		9		427,672		426,294
				536,720		527,850

 

 Approved by the Parochial Church Council on 12^th April 2010 and signed on its behalf by:

 ……………………………………….

Reverend Canon Peter Jones

Incumbent

Notes

1.              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 and properties which are shown at valuation as at 31 December 1998.

Funds

General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC.  Funds designated for a particular purpose by the PCC are also unrestricted.

The accounts include all transactions, assets and liabilities for which the PCC is responsible in law.  They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of Church members.  Following new regulations introduced in respect of the year 2007 and subsequently sums collected for specific charities (eg at “special” and funeral services) are now excluded from the financial statements.  Previously they were included in both incoming and outgoing resources.

Incoming Resources

Voluntary income and capital sources

Collections are recognised when received by or on behalf of the PCC. 

Planned giving receivable under covenant is recognised only when received.

Income tax recoverable on covenants or gift aid donations is recognised when the income is recognised.

Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain.

Sales from the church shop are accounted for gross.

Other income

Rental income from the letting of premises owned by the church is recognised when the rental is due.

Income from investments

Dividends and interest are accounted for when receivable.

Gains and losses on investments

Realised gains or losses are recognised when investments are sold.

Unrealised gains or losses are accounted for on revaluation of investments at 31 December.

Resources Used

Grants

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

Church activities

The diocesan parish share is accounted for when paid.  Any parish share unpaid at 31 December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the Balance Sheet.

Resources expended

All other expenditure is generally recognised when it is incurred and is accounted for gross.

Fixed Assets

Consecrated land and buildings and movable church furnishings

Consecrated and beneficed property is excluded from the accounts by S.96(2)(a) of the Charities Act 1993.

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 property unless consecrated.  They are listed in the Church’s Inventory which can be inspected (at any reasonable time).  For inalienable property acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the accounts.

All expenditure incurred in the year on consecrated or beneficed buildings, individual items under £1,000 or on the repair of movable church furnishings acquired before 1 January 2000 is written off.

Other fixtures, fittings and office equipment

Individual items of equipment with a purchase price of £1,000 or less are written off when the asset is acquired.

Assets capitalised are written off over the estimated life of the asset.

All expenditure incurred during the year on consecrated or benefice buildings and movable church furnishings, whether maintenance or improvement, is written off as expenditure in the SOFA and separately disclosed.

Other properties

Properties are shown at professional valuation as at 31 December 1998.  Valuation of a nominal £1 value has been placed upon the Church House and the Church Hall as at that date it was not intended that these properties would be disposed of.

Investments

Investments are valued at market value at 31 December.

Current assets

Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectable.

Short-term deposits include cash held on deposit either with the COIF Charity Investment Fund or at the bank.

Volunteers

The value of services provided by volunteers is not incorporated into these financial statements.

2.              INCOMING RESOURCES

				2009	2008
		Unrestricted	Restricted	Total	Total
		Funds	Funds	Funds	Funds
		£	£	£	£
2a.	Voluntary Income:
	Planned giving	22,933	-	22,933	20,802
	Collections at all services	4,052	75	4,127	6,068
	Sundry donations	4,921	190	5,111	2,833
	Grants	22,841	-	22,841	5,772
	Donations, appeals, etc.	-	305	305	100
	Income tax recoverable	7,453	-	7,453	4,627
		62,200	570	62,770	40,202
2b.	Church activities:
	Lettings of Church, Church House, Church Hall and Coach House	24,934	-	24,934	22,306
	Sale of magazine	694	-	694	656
	Rent	31,970	-	31,970	11,953
	Fees	1,702	-	1,702	1,086
		59,300	-	59,300	36,001
2c.	Activities for generating funds
	Magazines (advertisement fees)	547	-	547	737
	Church shop income	11,340	-	11,340	22,799
	Other fundraising	6,132	356	6,488
		18,019	356	18,375	23,536
2d.	Income from investments:
	Dividends and interest	3,500	-	3,500	7,062
		3,500	-	3,500	7,062
TOTAL INCOMING RESOURCES		143,019	926	143,945	106,801

3.              RESOURCES EXPENDED

						2009	2008
				Unrestricted	Restricted	Total	Total
				Funds	Funds	Funds	Funds
			Note	£	£	£	£
3a.	Church activities
	Missionary and charitable giving			2,840		2,840	3,494
	Ministry	- diocesan parish share		44,322	-	44,322	40,946
		- clergy expenses		515	-	515	630
		- clergy house costs		1,377	-	1,378	2,100
		- other clergy costs		3,168	-	3,168	3,858
	Church	- running expenses		6,422	-	6,422	10,725
		- maintenance		1,609	14,188	15,797	5,924
	Organists			3,919	-	3,919	4,512
	Expenditure on parish magazine			1,365	-	1,365	1,155
	Church House, Coach House, St Nicholas Chapel and Church Hall  -  running costs			19,386	-	19,386	10,178
	Upkeep of services			661	-	661	1,013
	Music			1,505	752	2,257	2,333
	Other property costs			12,321	6,900	19,221	8,094
	Education & Training			107		107	18
	Social Committee/Youth Club			175	61	236	72
	Support costs		3e	3,009	897	3,906	19,899
	Depreciation			467	-	467	470
				103,168	22,798	125,966	115,421
3b.	Governance costs
	Accountancy			1,212	-	1,212	1,725
3c.	Staff costs
	Wages and salaries			10,491	-	10,491	13,713
	Social security costs			(292)	-	(292)	410
				10,199	0	10,199	14,123
3d.	Fundraising expenses			50	-	50	40
	TOTAL RESOURCES EXPENDED			114,629	22,798	137,427	131,309

 

3e.	Support costs
	Printing and stationery		1,630	-	1,630	1,094
	Architects and other professional fees		1,217	897	2,114	18,734
	Bank Charges		24	-	24	-
	Social Committee/Youth Club					72
	Library		23	-	23	-
	Website		115	-	115	71
			3,009	897	3,906	19,971

4.              STAFF COSTS

During the year the PCC employed a verger (until 31 August 2009) and a parish office administrator, neither of whom earned £50,000 p.a. or more.

The organist and relief organists are self-employed.

5.              FIXED ASSETS FOR USE BY THE PCC

5a.       Tangible fixed assets

	Freehold land and buildings (Endowment)	Piano (Unrestricted)	A Frame (Restricted)	Total
	£	£	£	£
Actual/Deemed cost at 1 January 2009	376,502	4,689	-	381,191
Additions at cost	-	-	449	449
Actual/Deemed cost at 31 December 2009	376,502	4,689	449	381,640
Depreciation
At 1 January 2009	-	470	-	470
Charge for the year	-	422	45	467
	-	892	45	937
Net Book Value at 31 December 2009	376,502	3,797	404	380,703

             

The freehold land and buildings comprise the following:
	2009	2008
	£	£
1 Churchfields, South Street, Havant	110,000	110,000
2 Churchfields, South Street, Havant	105,000	105,000
Christ Church Bungalow, Rowan Road, Denvilles	82,000	82,000
Christ Church Medical Centre, Rowan Road, Denvilles	79,500	79,500
The Church House, The Pallant	1	1
The Church Hall, The Pallant	1	1
	376,502	376,502

 

5b.          Investments

		Historical Cost	2008 Market Value	Unrealised Gain/(Loss)	2009 Market Value
		£	£	£	£
114.54	COIF Charities Investment Fund	4,472	7,127	£ 1,020	8,147
710.53	CBF Fixed Interest Securities Fund	1,027	1,145	(£ 46)	1,099
3,017	CBF Fixed Interest Securities Fund	4,642	4,863	(£ 197)	4,666
12,143	CBF Fixed Interest Securities Fund	19,000	19,572	(£ 792)	18,780
2,649	CBF Investment Fund Income Shares	19,000	24,771	£ 2,312	27,083
62.7	CBF Investment Fund Income Shares	720	586	£ 55	641
		48,861	58,064	£ 2,352	60,416

              All investment assets are held in the UK.

6.              ANALYSIS OF NET ASSETS BY FUNDS

	Unrestricted Funds	Designated Funds	Restricted Funds	Endowment Funds	Total
	£	£	£	£	£
Fixed Assets	13,043	-	404	427,672	441,119
Current Assets	34,570	34,554	35,398	-	104,522
Current Liabilities	(2,530)	-	(6,391)	-	(8,921)
Fund balances	45,083	34,554	29,411	427,672	536,720

 

7.              DEBTORS

	2009 £	2008 £
Interregnum costs	4,356
Church Institute	7,875
Other Debtors	4,900	3,047
	17,131	3,047

 

8.              LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR

	2009 £	2008 £
Deferred income	488	-
Other creditors	8,433	2,623
	8,921	2,623

 

9.              MOVEMENT OF FUNDS

 

			B/Fwd	Incoming Resources	Resources Expended	Transfer between funds	Unrealised Gain/ Losses	C/Fwd
			£	£	£	£	£	£
Unrestricted funds:
Undesignated funds
General			25,090	132,477	114,568		974	43,973
Munday Legacy			1,110					1,110
Designated funds
Restoration and Redevelopment			24,028	10,542	16			34,554
Total unrestricted funds			50,228	143,019	114,584	0	974	79,637
Restricted funds
	Organ		1,955	653	2,070	3,189	0	3,727
	Church Lighting & CCTV		6,818	230	0	250	0	7,298
	Restoration & Redevelopment		41,685		19,859	-3,439	0	18,386
	Robes		752		752		0	0
	Piano		100		100		0	0
	Youth Club/Sunday Club		18	43	61		0	0
Total restricted funds			51,328	926	22,842	0	0	29,411
Endowment			426,294	0	0	0	1,378	427,672
Total funds			527,850	143,945	137,427	0	2,352	536,720

 

              £20,000 remains in Designated funds (Restoration & Redevelopment) for church repairs arising from the Quinquennial Report

10.           FUND DETAILS

	Unrestricted Funds	Designated Funds	Restricted Funds	Endowment Funds	Total
	£	£	£	£	£
General Fund	43,973				43,973
Munday Legacy	1,110				1,110
Organ Fund			3,727		3,727
Church Lighting Fund			7,298		7,298
Restoration & Redevelopment Fund		34,554	18,386		52,940
1 & 2 Churchfields Trust				4,666	4,666
57 South Street Trust				45,863	45,863
Boyd-Richardson Trust				641	641
Freehold Land and Buildings				376,502	376,502
Robes Fund			0		0
Piano Fund			0		0
Youth Club/Sunday Club			0		0
	45,083	34,554	29,411	427,672	536,720

 

              Trusts and Bequests - The following trusts are all permanent endowments which require income to be spent on the general purposes of the parish:

              1 & 2 Churchfields Trust

              57 South Street Trust

              Boyd-Richardson Trust

11.           REMUNERATION

              Payments were made to the following PCC members:

              £3,379 to Sylvia Willey as self-employed organist.

              £584 to William Skilleter for general repairs.

              No other person connected with the PCC has been paid or is payable, remuneration or other benefits from PCC funds.

              No payments or expenses were paid to any member, person connected to them or related partners.

12.           INDEPENDENT EXAMINER’S FEE

              The fee charged in these financial statements in respect of the independent examination thereof amounts to £999 (2008 £1,725).