PCCs can have a range of property types other than consecrated buildings and church halls. These can include:
- Flats/houses for private rental
- Curate’s flats/houses
- Scout/Guide Huts
Under the PCC (Powers) Measure 1956 PCCs are not allowed to own property in their own right so the London Diocesan Fund (LDF), as Diocesan Authority (formerly known Custodian Trustee), is the registered owner on behalf of the PCC.
The PCC is still Managing Trustee and retains all day-to-day’ responsibility for the property as well as the right to keep, sell or rent the property and realise all value therefrom.
The practical result of this relationship is that the LDF must co-sign any purchase, sale, lease or license of any Parish property (other than a casual hiring).
NB This also applies to church halls.
All PCC property must be included as a fixed asset in your annual accounts. If you use Accruals accounting a formal valuation must be sought. For Receipts & Payments accounting the insurance valuation is acceptable.