REGISTERED CHARITY NUMBER: 1126227
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
FOR
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
Bernard Rogers & Co Bank Gallery High Street Kenilworth Warwickshire CV8 1LY
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 December 2022
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | to | 2 |
| Report of the Trustees | 3 | to | 11 |
| Independent Examiner's Report | 12 | ||
| Statement of Financial Activities | 13 | ||
| Balance Sheet | 14 | ||
| Notes to the Financial Statements | 15 | to | 25 |
| Detailed Statement of Financial Activities | 26 | to | 27 |
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
REFERENCE AND ADMINISTRATIVE DETAILS for the Year Ended 31 December 2022
TRUSTEES Rev S Bailey Vicar Translated to Church of Wales June 2022 R Graham PCC Treasurer K Grierson (deceased 27.3.22) Ms K Mottram (resigned 22.5.22) Ms M Underwood DCC Representative M Lovegrove PCC Secretary/Diocesan Synod until 2024 Ms P Holder PCC to 2023 Ms L Twibill PCC to 2023 M Trewick PCC to 2023 Ms H Alford PCC to 2023 N Elliot PCC to 2024 T Wilkes Churchwarden until 2023 C Bisping (resigned 22.5.22) Ms H Marshall PCC to 2025 Ms M Rogers (resigned 22.5.22) Rev A Baxter Curate Rev R Moore Curate Ms J Cherry Churchwarden until 2023 Ms R Dalby PCC until 2025 (appointed 22.5.22) Ms A Darvil PCC until 2025 (appointed 22.5.22) Ms H Maddison PCC until 2025 (appointed 22.5.22) Ms T Mitchell Deanery Synod to 2023 (appointed 22.5.22) D Morgan Co-opted to PCC to 2023 (appointed 22.5.22) Ms J Walmesley PCC until 2025 (appointed 22.5.22) PRINCIPAL ADDRESS Parochial Hall 28 High Street Kenilworth Warwickshire CV8 1LZ REGISTERED CHARITY 1126227 NUMBER INDEPENDENT EXAMINER Bernard Rogers & Co Bank Gallery High Street Kenilworth Warwickshire CV8 1LY
Page 1
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
REFERENCE AND ADMINISTRATIVE DETAILS for the Year Ended 31 December 2022
ADVISERS
Gift Aid Officer Jane Kempton 9 Hermitage Way Kenilworth CV8 2DW Treasurer Russell Graham 14 Pears Close Kenilworth CV8 1BS
Page 2
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
REPORT OF THE TRUSTEES for the Year Ended 31 December 2022
The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Page 3
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
REPORT OF THE TRUSTEES for the Year Ended 31 December 2022
OBJECTIVES AND ACTIVITIES
Objectives and aims
The primary objective of the PCC is the promotion of the Gospel of our Lord Jesus Christ according to the doctrines and practices of the Church of England. The PCC co-operates with the minister in the whole mission of the church pastoral, evangelistic, social and ecumenical.
The PCC has worked with the congregation to develop our vision for our church.
An open and welcoming community of people discovering new ways to love and serve Kenilworth, inspired by the life of Jesus bringing God's hope and light to all.
We are now undertaking a process of development to implement this vision across the life of the church including changing how we use our church resources to underpin activities. These activities depended on the leadership of our Vicar, the Revd. Stella Bailey, who left the parish June 5th 2022. The parish has since been lead by the Revd. Alison Baxter, the Churchwardens and a team of talented and hard-working staff and volunteers, for which the Charity is much indebted and extremely grateful.
Maintenance, improvement and utilisation of the Buildings
The church and its other property are fundamental to the church being able to reach its objectives and aims. It is vital that the fabric of the church and its other buildings are maintained.
Maintenance and repairs were organised by Malcolm Trewick (Assistant Warden) following the demise of Keith Grierson (Buildings Manager) who had overseen this work for several years and is sorely missed. He was supported by a team of DIY Volunteers. A more detailed separate report is issued with the papers to the APCM Meeting.
Routine Annual Planned Preventative Maintenance to St Nicholas & St Barnabas Churches, The Parochial Hall & St Barnabas House
Essential work to maintain the building fabric, the health & safety of occupants and security systems (where fitted) was undertaken and completed satisfactorily. In January 2021, the quinquennial inspection of St Nicholas Church was undertaken. This highlighted a few minor issues most of which have been addressed, but also the need for the Lady Chapel roof to be replaced in the next 5 years. Some investigation into this was carried out in 2021, but has been put on hold due to a lack of resources.
St Nicholas Church New & Non-Repetitive Works
A new church heating installation was completed in the autumn of 2020. Following some adjustments and snagging, this has been signed off in March 2022 and is working satisfactorily to the great comfort of the Congregation. However, due to the great increase in utility charges this year, its use has been restricted.
There has been extreme dampness in the old (disused) strongroom. A proposal was drawn up in 2021 for its demolition. Following advice from our Architect, Simon Bird, this has been abandoned and a scheme drawn up to duct the rainwater from the main roof and waterproof the roof. Following a Faculty application, this will be carried out in the Spring of 2023.
A Specification for a new Lighting Scheme for the whole body of the church, which had been initiated by Keith Grierson in 2021, was presented to the PCC in March of this year and approval granted to go ahead. Following comments from the DAC, there were some small modifications to the scheme including Emergency lighting. The amended Faculty was submitted and work is expected to go ahead in May 2023.
A Specification was drawn up for a new integrated Audio Visual system for the Church under the supervision of David Edwards and Tim Wilkes (Churchwarden) This has been put on hold until after completion of the Lighting Installation.
Page 4
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
REPORT OF THE TRUSTEES for the Year Ended 31 December 2022
St Barnabas Church New & Non-Repetitive Works
At the beginning of the year, woodworm was found in the Pulpit. Upon investigation, it was found that this had also affected some of the Raised Platform area and to a lesser extent the stairway to the lower kitchen. The Pulpit and Raised floor were removed and the underfloor and stairway treated with contact insecticide. The entire floor was then sanded and lacquered to give a good quality floor throughout the Church, providing more flexibility in its use for Worship and other events.
Parochial Hall New and Non-repetitive Works
Extreme dampness had been evident on the Stairwell Wall in the Autumn of 2021, and an attempt to solve it had been unsuccessful. Guttering and flashing were replaced to no avail and it was eventually traced to an overflowing rainwater gutter on the adjacent property. This has been repaired by the owner and we await the drying out in the summer of 2023 before an assessment can be made regarding replastering.
St Barnabas House New & Non-Repetitive Works
No New & Non-Repetitive Works to this property were undertaken.
Work Undertaken by DIY Team
Malcolm Trewick led a team of volunteers comprising Mark Draper, Mark Lovegrove, Janet Cherry, James Hunt, Andy Brown, David Morgan and Nigel Elliott. The PCC are indebted to Malcolm and his team for undertaking a considerable amount of work on the church buildings and properties. This was important and essential work but due to financial constraints would not have otherwise been done.
Minor repairs and maintenance are also carried out on a regular basis by our Caretaker Rob Holloway.
The Parochial Hall continues to make a contribution to church finances. The hall is used beyond fund raising for direct Parish activities and meetings. Most groups returned post Covid and it continues to be a popular venue for children's parties. Parish activities include Cafe Sunday, St N Kids (Sunday School), Little Nicks Stay and Play toddler group, Bumps and Babies, St Nicholas Scouting Group, Flower Guild Demonstrations, Holiday Club and Light Party amongst others. These activities make major contributions to Parish Outreach. The Upstairs Office continues to be rented at a commercially evaluated level and there are many regular external groups and children's parties, using the hall boosting our income.
During the year, Flower Guild workshops were moved to St Nicholas Church. In September, Café Sunday moved to St Barnabas and St N kids moved into church in November.
From October all buildings were carefully monitored and fuel consumption reduced due to the fuel crisis and costs quadrupling.
Page 5
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
REPORT OF THE TRUSTEES for the Year Ended 31 December 2022
OBJECTIVES AND ACTIVITIES Public benefit How our activities deliver public benefit:
All of our charitable activities focus on the promotion of the Gospel of our Lord Jesus Christ and are undertaken to further our charitable purposes for the public benefit. It is part of our ethos to raise and give money to other charities where finances allow.
The charity has two churches The Parish Church, St. Nicholas and the District Church St. Barnabas. We also have St Nicholas Parochial Hall on the High Street, which is used extensively for church and community functions and occasions.
In addition to Worship, Prayer and occasional offices our churches are used by the local schools for concerts, acts of worship and nativity plays. We are seeing an increase in the church being used for the performance of Arts with various concerts held by external organisations.
The churches are open during the day with a steady flow of visitors. Some come to admire the Grade 1 listed architecture of St Nicholas Church, but many come to find a place of peace and prayer.
The aim of the worshipping community is to provide a space of inclusion and welcome with many of its activities focused on community relationship building and addressing direct public need issues most principally the effects of poverty and loneliness. The principle of mutual support and stewardship as expressed in scripture underpins the financial decisions in funding our projects to ensure all demographics of our parish have access to the church community activities. We first and foremost seek to love people into the Kingdom of God.
St Nicholas church continues to stream the 10am service on YouTube channel. Discipleship groups and meetings now take place in the churches. We continue to make church life available over digital platforms.
Page 6
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
REPORT OF THE TRUSTEES for the Year Ended 31 December 2022
ACHIEVEMENT AND PERFORMANCE Charitable activities Worship, Nurture and Outreach
2022 was again a year of hard decision making. Congregations were slow to return to formal worship.
Revd. Alison Baxter and Revd. Richard Moore ensured the ongoing pastoral care of the church family was co-ordinated so that those who were most vulnerable were identified and the physical and emotional support that was required was provided. The Revd. Stella Bailey continued with her work with the town wide COVID support group which had become Compassionate Kenilworth.
In March the churches celebrated Mothering Sunday, including Café Sunday in the Hall. The Palm Sunday service was held in St Nicholas churchyard. Holy week and Easter Day services were held in both churches, Good Friday and Easter Eve were celebrated at St Nicholas. All services were thought provoking and fitting but were less well attended than in pre-Covid years.
The Revd. Stella Bailey left us on June 5th and we congratulated her as she became Archdeacon in the Welsh diocese of Monmouth. We shall miss her ministry here, along with her partner Karen, who was one of our readers.
The Revd. Alison Baxter became our Clergy Lead, until she finishes her training; running the Parish along with the Churchwardens and help from The Revd. Richard Moore, Heather Alford (Reader), retired vicars and many volunteers, for which we are most grateful.
The post of Vicar for St Nicholas Parish was eventually advertised in November, with the interviews booked for January.
Various events were held surrounding H M Queen Elizabeth's Jubilee Celebrations, including a Flower Festival in St Nicholas organised by the Flower Guild. Both churches were beautifully decorated for Harvest in October, too.
In September the church held a space for prayer and remembrance when Her Majesty Queen Elizabeth II died. St Nicholas Church was open for people to light a candle and sign the book of Condolence. A civic service was held the evening before the funeral.
The Christmas Tree Festival was a big success, with over 2000 people visiting it. Christmas services were well attended, especially the crib service and carol services at both churches.
St Barnabas Church
A few new worshippers have joined the congregation at St Barnabas, during the year and are actively taking part in "Levensies", Tea4All and the craft group. Café Sunday moved to St Barnabas on the 4th Sunday from September. Some meetings and courses were held there, along with the Light Party. There are plans for other mid-week groups to meet there.
Page 7
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
REPORT OF THE TRUSTEES for the Year Ended 31 December 2022
St Barnabas Church is following the same pattern as many other smaller worshipping communities in the Church of England as it struggles in a post Christian Society. It currently has a stable worshipping community but does not see the level of new people joining the community that will sustain the church into the future. Those who have long been committed to the church have all increased in age and have differing levels of being able to take on positions of responsibility. For many years St Barnabas Church has struggled to be fully responsible for its building and to raise leaders. In 2021 the community were presented with a vision document 'Beyond Sunday' to help map out the past and possibilities for the future. Two meetings were held and the following was decided. St Barnabas Church will rescind its DCC status returning the leadership of the community fully under the parish at the PCC in May 2023. The PCC will ensure either through election or co-option that St Barnabas worshipping community will always have two representatives on the PCC. Under the Parish structures, St Barnabas will have a committee who are responsible for discussions and proposals about the worship and mission of St Barnabas Church. Work is ongoing in relation to the default layout of the church to make it a space where discipleship and mission activities can be undertaken in a hospitable and shared space style making it more adaptable for daily use.
Our Children's and Families ministry is continuing under the leadership of Clare, our employed family worker who connects with schools, taking a weekly assemblies and co-ordinating children's work for the parish. Stay and Play remains very popular and the families are invited to attend all our suitable services and events. Bumps and Babies for those who are approaching birth up to 1 year, has irregular attendance due to mothers returning to work and the age progression, but happily, many graduate to Stay and Play. Both meet in term time..
In August we held our popular children's holiday club. Numbers in attendance were good and it was a delight to re-connect with so many fringe families, school linked families and Café Sunday attendees. The popular Light Party was held at St Barnabas in October and a Sensory Christmas at St Nicholas, for a few days in December, when schools, Nurseries and young children were invited to experience the story of Christmas in a new way. The Crib service was also well attended and fun.
Café Sunday moved from the Hall to St Barnabas in September. All other church groups have met throughout the year.
We are deeply indebted to the many volunteers who support Clare and make all these experiences achievable.
Lent and Advent courses were held and during Advent the Café Sunday team set up an Advent Calendar in an empty shop front in the town to help journey the town towards Christmas.
2022 has been a difficult year of decision making for the leadership team as the congregation has returned to worship, much slower than was hoped, and not to the level of pre-covid. Sadly much loved members of the church community have died, youth have moved on and we have had to reconnect with families. We began 2022 with the mindset of starting again with the excellent work and missional mindset we did so back in 2018.
Our average attendance levels were impacted by the pandemic and in line with the national landscape we have seen a drop of approximately 1/3rd in our normal in person Sunday attendance. We have seen a consistent engagement with our online worship with many people watching the service in the week after it goes live.
We experienced fewer people wishing for their child to be baptised (24). The number of weddings we held were fewer but we were delighted to hold 6 weddings and 1 Blessing of relationship. We lost a significant number of our church community who passed away or became infirm during the year and the aging nature of our community was highlighted. During the year we conducted 48 funerals and 8 services of interment of ashes.
Having said all that, the post pandemic signs would indicate that the strength of St Nicholas Church will return once it is able to function in Mission and Ministry in a style it was working towards pre-pandemic with a focus on outreach towards Children and Families whilst continuing to support the inherited church.
Page 8
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
REPORT OF THE TRUSTEES for the Year Ended 31 December 2022
ACHIEVEMENT AND PERFORMANCE Fundraising activities Maintenance, improvement and utilisation of the Buildings
The following were some of the items addressed during the year:
Reactive Maintenance was again in place and essential annual servicing checks made.
The charity still experiences difficulties in generating an income through its normal sources. The Hall has lost 3 regular bookings and fees had to rise in October due to the cost of fuel quadrupling. The aim of the PCC was to ensure that the hall attempted to break even. Loose plate giving has reduced due to the reduction in attendance at worship and fewer people attending large services at key festival periods. We also had a reduced income by having fewer Weddings and Baptisms. We were able to hold our normal fundraising activities in the summer such as Sunday and Open Garden Teas but other events failed to generate any real income. The PCC looked for new ways to generate an income to support the work of the church during the past year. The ability for people to give online continued and the church family were encouraged to review their regular giving. The card reader machine has seen a consistent and good level of donations. It is in church during the week and on Sundays and is also used by Stay and Play and other events. The PCC applied for available grants where we qualified, to help support the work of the church. Under the diocese scheme to support parishes we finished the year by reducing the payment we made to the Diocese.
At the beginning of 2022 the church employed a caretaker who does the regular cleaning, minor maintenance, opening the hall and church, closing and grave digging. A new administrator was also employed after the early retirement of Rosie, due to ill health.
FINANCIAL REVIEW
Financial position
During 2022 the charity again, maintained rigorous controls over its spending and limited expenditure to the income actually achieved. Spending controls will need to remain in place during the coming year and also in the future when we go forward to better times, to ensure that we can give as generously as possible to promote the Gospel of Jesus Christ.
We pay Parish Share in excess of the cost of clergy in this parish. These payments to what is known as the Support Fund in the Diocese enable the financially poorer parishes in the Diocese to have clergy. Our Parish Share amounted to £58,519 in 2022 (2021: £93,333).
The Charity was unable to give away any of its 2022 income to charities, but it did help raise money from a number of events such as a Christmas Tree Festival, for others.
The unrestricted funds income for 2022 totalled £161,114 (2021: £182,395) including exceptional items and this is detailed in the attached financial statements.
Of this, planned giving and gift-aided giving, including tax recoverable was £98,536 (2021: £123,087), together with trading activities of £41,465 (2021: £38,062) and charitable activities of £18,103 (2021: £18,438) with miscellaneous and investment income of £3,010 (2021: £2,808).
A total of £152,339 was expended from unrestricted funds (2021: £185,575), including the Diocesan parish share of £58,519 (2021: £93,333), together with other charitable activity costs and management costs.
Taking account of transfers between funds detailed within the notes to the accounts, the net result for the year was a surplus on unrestricted funds of £3,712 (2021: £12,900 deficit). The balance carried forward on unrestricted funds totalled £257,721 (2021: £254,009).
Page 9
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
REPORT OF THE TRUSTEES for the Year Ended 31 December 2022
FINANCIAL REVIEW
Principal funding sources
The PCC's cash reserves are sufficient in the short-term to meet the foreseeable expenditure of the PCC.
The principle funding source of the Church is its members. The income has enabled us to meet our parish share to the diocese which includes the provision of clergy and to pursue mission and ministry projects highlighted elsewhere in this report.
The church has an investment policy by which we keep our cash balance with Virgin Money and the Central Board of Finance of the Church of England to get the best interest rate. The endowment fund together with the investments maintained via the Coventry Diocesan Trustees are held by the CCLA, a unit trust of the Central Board of Finance.
Reserves policy
The PCC has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets ("free reserves") held by the PCC should not be less than 25% of unrestricted income.
In 2022, total unrestricted income was £161,114 (2021: £182,395) at 25% this equates to £40,279 (2021: £45,599) in unrestricted funds. At the balance sheet date the free reserves were £257,721 (2021: £254,009), a surplus of £217,442 (2021: £208,410).
Details of any capital commitments at the year-end which are not reflected in the reserves because they cannot be determined at the date of these financial statements are detailed in the notes.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
The Parochial Church Council (PCC) is a corporate body established by the Church of England. It operates under the Parochial Church Council measure. The appointment of PCC members is governed and set out in the Church Representation Rules.
PCC members are recruited through notice boards in both churches, temailed Sunday News and Notices and through oral notices at services. Basic induction and training is provided in the parish.
The PCC organises itself through the following working groups who make recommendations to the full council.
"Management team" "Worship, Nurture and Outreach" (which includes hr, finance and day to day management) "Pastoral Care"
Decisions are made by the PCC. Exceptionally, and only when time is of the essence, the Standing Committee can by statute make decisions between PCC meetings. It is our practice for PCC to ratify such decisions when they meet.
The PCC meets every other month and the working groups meet in the intervening months. The PCC Standing Committee meets before every PCC.
Safeguarding
The PCC takes safeguarding seriously and adopted the recommended safeguarding policy from the Coventry Diocese which reflects recent legislative changes. The PCC has complied with the duty to "have due regard" to the House of Bishops' guidance in relation to safeguarding. The PCC are now the legal body responsible for safeguarding and the risk of liability sits with the PCC and the Church insurance. The implementation of this important policy will impact how we work as a church but due to its nature is non-negotiable. Our safeguarding officer and parish administrator regularly reviews and ensure all who should complete a DBS have done so and training was up to date at correct levels. The PCC has completed a safeguarding action plan to show how it is working towards the full implementation of all policies.
Page 10
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
REPORT OF THE TRUSTEES for the Year Ended 31 December 2022
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ J Cherry - Warden
........................................................................
T Wilkes - Warden
Page 11
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
Independent examiner's report to the trustees of The Parochial Church Council of St Nicholas Kenilworth
I report to the charity trustees on my examination of the accounts of The Parochial Church Council of St Nicholas Kenilworth (the Trust) for the year ended 31 December 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
David Rogers
Bernard Rogers & Co Bank Gallery High Street Kenilworth Warwickshire CV8 1LY
Date: .............................................
Page 12
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2022
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Charitable activities 5 Gospel of our Lord Jesus Christ Other trading activities 3 Investment income 4 Other income Total EXPENDITURE ON Charitable activities 6 Gospel of our Lord Jesus Christ Other Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) Transfers between funds 15 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 98,536 18,103 41,465 317 2,693 161,114 152,339 - 152,339 - 8,775 (5,063) 3,712 254,009 257,721 |
Restricted funds £ - - - 8,183 - 8,183 13,548 - 13,548 - (5,365) 5,063 (302) 686,408 686,106 |
Endowment fund £ - - - - - - - - - (23,178) (23,178) - (23,178) 194,712 171,534 |
2022 Total funds £ 98,536 18,103 41,465 8,500 2,693 169,297 165,887 - 165,887 (23,178) (19,768) - (19,768) 1,135,129 1,115,361 |
2021 Total funds £ 123,087 18,438 38,062 5,117 2,692 |
|---|---|---|---|---|---|
| 187,396 | |||||
| 193,170 7,916 |
|||||
| 201,086 | |||||
| 20,591 | |||||
| 6,901 - |
|||||
| 6,901 1,128,228 |
|||||
| 1,135,129 |
The notes form part of these financial statements
Page 13
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
BALANCE SHEET 31 December 2022
| Notes FIXED ASSETS Tangible assets 11 Investments 12 CURRENT ASSETS Debtors 13 Cash at bank CREDITORS Amounts falling due within one year 14 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 15 Unrestricted funds Restricted funds Endowment funds TOTAL FUNDS |
Unrestricted fund £ 4,704 - 4,704 730 255,932 256,662 (3,645) 253,017 257,721 257,721 |
Restricted funds £ 686,106 - 686,106 - - - - - 686,106 686,106 |
Endowment fund £ - 171,534 171,534 - - - - - 171,534 171,534 |
2022 Total funds £ 690,810 171,534 862,344 730 255,932 256,662 (3,645) 253,017 1,115,361 1,115,361 257,721 686,106 171,534 1,115,361 |
2021 Total funds £ 692,543 194,712 887,255 2,924 259,108 262,032 (14,158) 247,874 1,135,129 1,135,129 254,009 686,408 194,712 1,135,129 |
|---|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. J Cherry - Warden
............................................. T Wilkes - Warden
The notes form part of these financial statements
Page 14
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 December 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and Charities Act 20-11. The financial statements are prepared under the historical cost convention, modified to include investments at fair value.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 1019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
Income
Collections and other casual giving are recognised when received by or on behalf of the PCC. Planned giving is recognised when received.
Tax recoverable on gift aid is recognised when the planned giving of the gift is received. Any such income included but not received as at the year end is shown as a debtor in the balance sheet.
Grants, legacies and donations are recognised when the PCC is notified of its entitlement to receive them, the amount is reliably measurable and receipt is probable.
Income from Weddings and funerals are accounted for on a receivable basis. Any such income included but not received as at the year end is shown as a Trade debtor in the balance sheet.
Funds raised by the Summer garden party, the Christmas fair and other similar Parish events are accounted for gross.
Sales of and advertising income from the Parish magazine is accounted for gross, as are sales from the magazine and bookstall.
Rental and other income
Income from regular contractual lettings is recognised when due. Income from occasional lettings and other casual income is recognised when received.
Income, gains and losses on investments
Dividends and interest are recognised on an accruals basis. Realised gains or losses are recognised at the time of disposal.
Gains and losses on revaluation are recognised as noted in the accounts. All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy and it is probable that the income will be received.
continued...
Page 15
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022
1. ACCOUNTING POLICIES - continued
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Church to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measure reliably.
Grants and donations are recognised when paid out, or where the PCC has given a binding undertaking to pay, if earlier.
Parish Share is accounted for the year for which it is due. Any unpaid share at the year end is accounted for as a creditor at the year end and included in the balance sheet.
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.
Fixed assets
Tangible fixed assets
Tangible Fixed assets are stated at a valuation rather than historic cost, where there is no reliable record of the historic cost of assets acquired possibly many years ago.
The PCC does not at present intend to incur the expense of quinquennial valuation of assets so acquired only for the purposes of disclosure in the financial statements. The valuations shown are solely for the purposes of proxy for historic costs. No depreciation charge is made in respect of the freehold buildings on the grounds that the PCC has a policy and practice of regular maintenance with such assets having a very long remaining useful economic life.
Consecrated and beneficed property of any kind is excluded from the financial statements by virtue of section 96(2)(a) Charities Act 1993.
St Nicholas Church is held by the Vicar in trust. The church is a consecrated building, and a faculty is required to effect any work on it. In accordance with accounting regulations for churches, the cot of any work is written off in the year it occurs. The contents of the consecrated building are held in trust by the Churchwardens and a faculty is required to purchase or sell such assets. Any such purchases or sales in accordance with accounting regulations of churches pass through the church accounts in the year they occur. These assets are listed in the Terrier which can be inspected at any reasonable time by prior appointment with the Churchwardens. Except as disclosed in the financial statements, they are not otherwise reported because there is no reliable information about historic cost.
The Parochial Hall restoration costs have been capitalised on the basis that the expenditure provides an enhancement of the economic value of this asset.
Other fixtures, fittings, furniture, equipment and software are accounted for at cost less depreciation as 25% on a reducing balance basis. Minor items costing less then £500 are written off in the year of acquisition.
Rental property
Income is derived from the rental of St Barnabas house, however this asset has been included within tangible fixed assets as the trustees consider that to establish a fair value of the St Barnabas house as an investment property component within the original church property would be too costly.
Fixed asset Investments
Fixed asset investments are valued at market value as at the balance sheet date.
continued...
Page 16
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022
1. ACCOUNTING POLICIES - continued
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
General or designated funds represent the funds of the PCC held on general trusts for the purposes of the Church of England in the Parish or more widely for the general charitable purposes of the PCC on behalf of the townspeople of Kenilworth. These funds may include funds designated for a particular purpose by the PCC.
Restricted funds are those funds which must be used or expended only for the purposes for which the funds were given or raised. The notes to the accounts disclose the movements on restricted funds.
Endowment funds are those funds where the PCC is not free to erode the capital of the endowment, but must retain it and apply any income only for the purposes of the endowment. The PCC does not have any expendable endowments.
The PCC has sought preliminary legal advice about the terms of trust on which it administers real property. Pending that advice, such property has been treated for the purposes of financial reporting as shown in the notes to the financial statements. This is to show for reporting purposes a true, fair and prudent view of the assets at the disposal of the PCC. In the event of any actual proposal to dispose of such property, the possibility of that and the use of any proceeds would need considered advice.
Cash and bank
Short term deposits included cash held at deposit either with the CBF Church of England Funds, or at the bank.
2. DONATIONS AND LEGACIES
| Committed giving Cash giving Gift Aid Grants, bequests, donations and appeals Casual giving Wall safe |
2022 £ 74,465 3,174 9,926 5,669 1,884 1,994 98,536 |
2021 £ 88,051 3,417 1,502 25,992 3,034 1,091 123,087 |
|---|---|---|
continued...
Page 17
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022
| 3. OTHER TRADING ACTIVITIES Parochial Hall and St Barnabas House income 4. INVESTMENT INCOME Investment returns and interest 5. INCOME FROM CHARITABLE ACTIVITIES Activity Receipts from parish events Gospel of our Lord Jesus Christ Magazine and bookstall receipts Gospel of our Lord Jesus Christ Wedding and funeral fees Gospel of our Lord Jesus Christ St Nicholas wives group Gospel of our Lord Jesus Christ Hospitality Gospel of our Lord Jesus Christ Childrens' work Gospel of our Lord Jesus Christ 6. CHARITABLE ACTIVITIES COSTS Gospel of our Lord Jesus Christ 7. SUPPORT COSTS Management £ Gospel of our Lord Jesus Christ 40,185 |
2022 £ 41,465 2022 £ 8,500 2022 £ 878 71 12,329 158 1,973 2,694 18,103 Support Direct costs (see Costs note 7) £ £ 121,774 44,113 Governance Other costs £ £ 1,733 2,195 |
2021 £ 38,062 |
||
|---|---|---|---|---|
| 2021 £ 5,117 2021 £ 828 71 14,136 366 1,346 1,691 |
||||
| 18,438 | ||||
| Totals £ 165,887 Totals £ 44,113 |
||||
continued...
Page 18
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
Some of the ordained clergy are remunerated by the Diocese of Coventry and their emoluments and associated pension contributions are, indirectly, met by the parish share which the PCC pays to the Diocese.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
The PCC does pay to the clergy travelling expenses at HMRC approved rates and other reasonable vouched expenses of their vocation.
9. STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| Wages and salaries | 2022 £ 50,054 50,054 |
2021 £ 45,248 |
| 45,248 |
The average monthly number of employees during the year was as follows:
| Family / Youth worker Administrative Cleaning |
2022 1 2 2 5 |
2021 1 1 1 |
|---|---|---|
| 3 |
No employees received emoluments in excess of £60,000.
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Gospel of our Lord Jesus Christ Other trading activities Investment income Other income Total |
Unrestricted fund £ 123,087 18,438 38,062 116 2,692 182,395 |
Restricted funds £ - - - 5,001 - 5,001 |
Endowment fund £ - - - - - - |
Total funds £ 123,08 18,43 38,06 5,11 2,69 |
|---|---|---|---|---|
| 187,39 |
EXPENDITURE ON
continued...
Page 19
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Charitable activities Gospel of our Lord Jesus Christ Other Total Net gains on investments NET INCOME/(EXPENDITURE) Transfers between funds Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 11. TANGIBLE FIXED ASSETS COST At 1 January 2022 and 31 December 2022 DEPRECIATION At 1 January 2022 Charge for year At 31 December 2022 NET BOOK VALUE At 31 December 2022 At 31 December 2021 |
Unrestricted fund £ 177,659 7,916 185,575 - (3,180) (9,720) (12,900) 266,909 254,009 |
Restricted funds £ 15,511 - 15,511 - (10,510) 9,720 (790) 687,198 686,408 Freehold property £ 685,618 - - - 685,618 685,618 |
Endowment fund £ - - - 20,591 20,591 - 20,591 174,121 194,712 Fixtures and fittings £ 61,985 55,060 1,733 56,793 5,192 6,925 |
Total funds £ 193,170 7,916 |
|||
|---|---|---|---|---|---|---|---|
| 201,086 | |||||||
| 20,591 | |||||||
| 6,901 - |
|||||||
| 6,901 1,128,228 |
|||||||
| 1,135,129 | |||||||
| Totals £ 747,603 55,060 1,733 56,793 690,810 692,543 |
continued...
Page 20
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022
11. TANGIBLE FIXED ASSETS - continued
| Insurance | |||
|---|---|---|---|
| Land and buildings | 1998 valuation | valuation | Notes |
| Excluded from accounts | |||
| by virtue of S96 (2)(a) | |||
| St Nicholas Church | nil | 16,810,000 | Charities Act 1993 |
| St Barnabas Church | 20,000 | 2,900,000 | |
| St Barnabas House, huts and | |||
| allotments | 110,550 | 252,000 | |
| Parochial Hall | 75,000 | 2,900,000 | |
| Parochial Hall Restoration Cost (2010 | |||
| and 2011) | 480,068 |
The land and buildings, excluding consecrated and beneficed property, were valued by the PCC in 1998 (2001 for St Barnabas House). Restrictive covenants might exist affecting the disposal of these properties.
12. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Listed | |
| investments | |
| £ | |
| MARKET VALUE | |
| At 1 January 2022 | 194,712 |
| Revaluations | (23,178) |
| At 31 December 2022 | 171,534 |
| NET BOOK VALUE | |
| At 31 December 2022 | 171,534 |
| At 31 December 2021 | 194,712 |
There were no investment assets outside the UK.
Cost or valuation at 31 December 2022 is represented by:
| Listed | ||
|---|---|---|
| investments | ||
| £ | ||
| Valuation in | 2021 | 20,591 |
| Valuation in | 2022 | (23,178) |
| Cost | 174,121 | |
| 171,534 |
Long-term investments are included at market value at 31st December 2022. The SOFA includes the net gains and losses arising on revaluations during the year.
continued...
Page 21
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022
12. FIXED ASSET INVESTMENTS - continued
The endowment fund may only be used for maintaining the fabric of St Nicholas Church. The endowment is invested in The CBF Church of England Investment Fund (now called CCLA) Accumulation Shares and the value at 31 December 2022 is £171,534 (2021: £194,712).
13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Other debtors |
2022 £ 730 - 730 |
2021 £ 1,424 1,500 |
|---|---|---|
| 2,924 |
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Other creditors |
2022 £ 1,305 2,340 3,645 |
2021 £ 883 13,275 |
|---|---|---|
| 14,158 |
15. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Restricted funds land and buildings St Barnabas fixed asset donation fund Parochial Hall fixed asset donation fund St Nicholas maintenance Endowment funds Endowment fund TOTAL FUNDS |
At 1.1.22 £ 254,009 685,618 8 782 - 686,408 194,712 1,135,129 |
Net movement in funds £ 8,775 - (8) (294) (5,063) (5,365) (23,178) (19,768) |
Transfers between funds £ (5,063) - - - 5,063 5,063 - - |
At 31.12.22 £ 257,721 685,618 - 488 - 686,106 171,534 1,115,361 |
|---|---|---|---|---|
continued...
Page 22
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022
15. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Incoming | Resources | Gains and | Movement | Movement | |
|---|---|---|---|---|---|---|
| resources | expended | losses | in funds | |||
| £ | £ | £ | £ | |||
| Unrestricted funds | ||||||
| General fund | 161,114 | (152,339) | - | 8,775 | ||
| Restricted funds | ||||||
| St Barnabas fixed asset donation fund | - | (8) | - | (8) | ||
| Parochial Hall fixed asset donation fund | - | (294) | - | (294) | ||
| St Nicholas maintenance | 8,183 | (13,246) | - | (5,063) | ||
| 8,183 | (13,548) | - | (5,365) | |||
| Endowment funds | ||||||
| Endowment fund | - | - | (23,178) | (23,178) | ||
| TOTAL FUNDS | 169,297 | (165,887) | (23,178) | (19,768) | ||
| Comparatives for movement in funds | ||||||
| Net | Transfers | |||||
| movement | between | At | ||||
| At 1.1.21 | in funds | funds | 31.12.21 | |||
| £ | £ | £ | £ | |||
| Unrestricted funds | ||||||
| General fund | 266,909 | (3,180) | (9,720) | 254,009 | ||
| Restricted funds | ||||||
| Restricted funds land and buildings | 685,617 | - | 1 | 685,618 | ||
| St Barnabas fixed asset donation fund | 16 | (4) | (4) | 8 | ||
| Parochial Hall fixed asset donation fund | 1,565 | (392) | (391) | 782 | ||
| St Nicholas maintenance | - | (10,114) | 10,114 | - | ||
| 687,198 | (10,510) | 9,720 | 686,408 | |||
| Endowment funds | ||||||
| Endowment fund | 174,121 | 20,591 | - | 194,712 | ||
| TOTAL FUNDS | 1,128,228 | 6,901 | - | 1,135,129 |
continued...
Page 23
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022
15. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds St Barnabas fixed asset donation fund Parochial Hall fixed asset donation fund St Nicholas maintenance Endowment funds Endowment fund TOTAL FUNDS |
Incoming resources £ 182,395 - (1) 5,002 5,001 - 187,396 |
Resources expended £ (185,575) (4) (391) (15,116) (15,511) - (201,086) |
Gains and Movement losses in funds £ £ - (3,180) - (4) - (392) - (10,114) - (10,510) 20,591 20,591 20,591 6,901 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Restricted funds land and buildings St Barnabas fixed asset donation fund Parochial Hall fixed asset donation fund St Nicholas maintenance Endowment funds Endowment fund TOTAL FUNDS |
At 1.1.21 £ 266,909 685,617 16 1,565 - 687,198 174,121 1,128,228 |
Net movement in funds £ 5,595 - (12) (686) (15,177) (15,875) (2,587) (12,867) |
Transfers between funds £ (14,783) 1 (4) (391) 15,177 14,783 - - |
At 31.12.22 £ 257,721 685,618 - 488 - 686,106 171,534 1,115,361 |
|---|---|---|---|---|
continued...
Page 24
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022
15. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds St Barnabas fixed asset donation fund Parochial Hall fixed asset donation fund St Nicholas maintenance Endowment funds Endowment fund TOTAL FUNDS |
Incoming resources £ 343,509 - (1) 13,185 13,184 - 356,693 |
Resources expended £ (337,914) (12) (685) (28,362) (29,059) - (366,973) |
Gains and Movement losses in funds £ £ - 5,595 - (12) - (686) - (15,177) - (15,875) (2,587) (2,587) (2,587) (12,867) |
|---|---|---|---|
St Nicholas Maintenance
The nature of the fund is to maintain and insure St Nicholas Church, which is an ancient and valuable asset for the community of Kenilworth and those who visit the town.
The church is, so far as possible, kept open to anyone who wishes to visit. The gardens around the church are maintained by volunteers at no cost.
The cost of maintaining the fabric of St Nicholas, including insurance, could not be met alone from the fabric maintenance fund and therefore any deficit of funds is transferred from the general fund.
16. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2022.
Page 25
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2022
| INCOME AND ENDOWMENTS Donations and legacies Committed giving Cash giving Gift aid Grants, bequests, donations and appeals Casual giving Wall safe Other trading activities Parochial Hall and St Barnabas House income Investment income Investment returns and interest Charitable activities Receipts from parish events Magazine and bookstall receipts Wedding and funeral fees St Nicholas wives group Hospitality Childrens' work Other income Miscellaneous income Total incoming resources EXPENDITURE Charitable activities Wages Parish share Altar service costs Music, organ, organist and choir Bell ringing Clergy expenses St Nicholas wives group costs Hospitality costs Childrens' work |
2022 £ 74,465 3,174 11,350 5,669 1,884 1,994 98,536 41,465 8,500 878 71 12,329 158 1,973 2,694 18,103 2,693 169,297 50,054 58,519 847 7,609 365 2,694 295 429 962 121,774 |
2021 £ 88,051 3,417 1,502 25,992 3,034 1,091 |
|---|---|---|
| 123,087 38,062 5,117 828 71 14,136 366 1,346 1,691 |
||
| 18,438 2,692 |
||
| 187,396 45,248 93,333 2,495 2,504 280 4,431 135 112 1,450 |
||
| 149,988 |
This page does not form part of the statutory financial statements
Page 26
THE PAROCHIAL CHURCH COUNCIL OF ST NICHOLAS KENILWORTH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2022
| Charitable activities Other Exceptional items Support costs Management St Nicholas Church running expenses maintenance and repairs St Barnabas Church running expenses maintenance and repairs Parochial Hall running expenses maintenance and repairs Phones, office equipment and consumables Insurance Other Depreciation of tangible fixed assets Governance costs Accountancy and legal fees Total resources expended Net income/(expenditure) before gains and losses Realised recognised gains and losses Realised gains/(losses) on fixed asset investments Net (expenditure)/income |
2022 £ - 16,751 8,181 7,181 788 7,284 40,185 1,733 2,195 165,887 3,410 (23,178) (19,768) |
2021 £ 7,916 16,753 1,167 9,475 3,361 7,022 37,778 2,309 3,095 201,086 (13,690) 20,591 6,901 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 27