THE PCC OF THE ECCLESIASTICAL PARISH OF CAMBRIDGE ST MARY THE GREAT WITH ST MICHAEL
Financial Statements For the year ended 31 December 2022
Registered Charity No 1127668
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The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael PCC Report For the year ended 31 December 2022
PCC Members during the year:
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|Chair|
|The Revd.|Canon Adrian Daffern|Vicar|Resigned 31/08/2022|
|The Revd.|Canon|Jutta Brueck|Interim|Priest-in-Charge|Appointed 26/10/2022|
|Other Clergy|
|The Revd.|Devin McLachlan|Associate|Vicar|Resigned|20/11/2022|
|The Revd.|Andrew Day|Curate|
|The Revd.|Shirley Holder|Curate|
|The Revd.|David Bagnall|Curate|
|The Revd.|Jon|Sanders|Curate|Resigned 31/08/2022|
|Churchwardens|
|Margaret Johnston|
|Joye|Rosenstiel|
|Deanery Synod Representatives|
|Andrew Dobson|
|Aishwarya Jacob|
|Thomas|Ware|
|Co-opted Members|
|Ed|Cearns|Market Square|Chaplain|Resigned|10/04/2022|
|Graham Day|Treasurer|Appointed|06/06/2022|
|Selwyn|Image|Vice|Chair to|09/11/2022|Appointed|06/06/2022,|Resigned|09/11/2022|
|Dafydd Russell-Jones|Children's|Minister|Appointed|13/11/2022|
|Christyana Visk|Children's|Minister|Appointed|01/02/2022, Resigned|30/09/2022|
|Elected|Members|
|Lorna Atwell|
|Gordon|Campbell|
|Marion Cobby|Secretary and|Vestry Clerk|
|Brian Corby|Completed Term 08/05/2022|
|Graham Day|Treasurer|Completed Term 08/05/2022|
|Virginia Denmead|Appointed|08/05/2022|
|Michael|Goodchild|Appointed|08/05/2022|
|David|Grumett|
|Martin House|Appointed|08/05/2022|
|Selwyn|Image|Vice|Chair|Completed|Term|08/05/2022|
|Margaret Ingram|Vice|Chair from|09/11/2022|Appointed|08/05/2022|
|Juliet Jackson|
|Liz Orme|
|Catherine|Smart|
|Joanna|Womack|
|Tn|attendance|(non-voting)|
|Sam Hayes|Director|of Music|Resigned|11/09/2022|
|Richard|Summers|Director|of Operations|
|Benedict Todd|Interim|Director|of Music|Appointed|01/09/2022|
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The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael PCC Report For the year ended 31 December 2022
| Address: | Great StMary's, TheUniversity Church | ||
|---|---|---|---|
| Senate House Hill | |||
| Cambridge | |||
| CB23PQ | |||
| Registered | CharityNo.: | 1127668 | |
| Auditors: | Staffords | ||
| Chartered Accountants | |||
| Unit 1 Cambridge House | |||
| Camboro Business Park | |||
| OakingtonRoad | |||
| Girton | |||
| CB3 0QH | |||
| Banks: | HSBCBank | SantanderUKple. | |
| PO Box 85 | BridleRoad | ||
| City Office | Bootle | ||
| Cambridge | Merseyside | ||
| CB23HZ | L304GB |
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The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael
PCC Report For the year ended 31 December 2022
A Brief history of the Parish of St Mary the Great with St Michael
Great St Mary’s is one of the ancient parish churches of Cambridge, dating probably from before the Norman Conquest in 1066. In the 13th century the patronage of the living (then known as St-Mary-by-the-Market) was in Crown hands; but in 1342 Edward III granted it to his new foundation of King’s Hall. In 1546 Henry VII merged King’s Hall with Michaelhouse to form Trinity College. Trinity College is still patron and lay rector of Great St Mary’s. The Church has been served since medieval times by curates, termed Vicar since 1867. Great St Mary’s has been the Church of the University of Cambridge since scholars first arrived in the city in about 1209, The Church was the home of lectures, sermons, disputations and degree ceremonies held by the University for several centuries. Some university ceremonies continue to be held in it. Great St Mary’s has come to be recognised as the civic Church of Cambridge.
The patronage of St Michael’s was anciently in private hands; but in 1323 Harvey de Stanton acquired it and gave it to his new college, Michaelhouse. When Michaelhouse and King’s Hall were merged, Trinity College became patron and lay rector of St Michael’s. The incumbent of Great St Mary’s became Vicar of St. Michael’s from 1908 and the parishes were united in 1954.
Structure, Governance and Management
The PCC confirm that the annual report and audited accounts comply with the requirements of the Charities Act 2011 and the Charities SORP CFRS 102).
Governing Document
The Parochial Church Council is a corporate body established by the Church of England and the PCC operates under the Parochial Church Council Powers Measure (1956).
Recruitment and Appointment of PCC
The appointment of PCC members is governed by and set out in the Church Representation Rules (2020). Elected members are elected by the Electoral Roll membership at the Annual Parochial Church Meeting.
Training of PCC members
Appropriate training is provided as necessary, and all PCC members are required to undergo Safeguarding training.
Risk Management
The PCC periodically reviews the major risks to which the Charity is exposed. Where appropriate, systems or procedures have been established to mitigate the risks the Charity faces. These procedures are periodically reviewed to ensure they continue to meet the needs of the Charity.
Organisational Structure & Decision Making
The diverse activities of Great St. Mary’s including its role as University & Civic church (and St. Michael’s known as Michaelhouse) are managed in an integrated way with the PCC being the body ultimately responsible for strategy and management.
In order to carry out its aims and objectives, the PCC has established subgroups/committees (all of which report to the PCC) to manage and oversee the following policy areas:
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|Legal|Responsibilities|Finance|and|General Purposes|(including property matters)|
|Safeguarding|
|Standing|Committee|
|Working Parties|Wider Concerns|
|Environment|Group|
|ECLAS|Science|and|Faith Project|
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The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael
PCC Report For the year ended 31 December 2022
Organisational Structure & Decision Making (cont.)
The PCC takes decisions for the parish. Responsibility for day to day operation of the parish is delegated to the relevant staff and clergy. The committees of the PCC review needs, prepare proposals, and submit reports to the PCC for information and approval. PCC members are either elected, co-opted or are ex officio. The elected membership is drawn from the Electoral Roll. Others attend PCC meetings by invitation but do not have voting rights, such as the Director of Music and Operations Director. Working groups are set up as necessary and the PCC liaises with the Friends of Michaelhouse, Church Schools of Cambridge and other partners as necessary.
Staffing
The Reverend Canon Adrian Daffern, resigned as Vicar at the end of August 2022 and the Reverend Canon Jutta Brueck was installed as Interim Priest in Charge at the end of October. The part-time Associate Vicar, Reverend Devin McLachlan left at the end of November and Reverend Jon Sanders, the full time curate moved on to another training post at the end of August 2022. The part-time non-stipendiary curates Reverend Shirley Holder and Reverend David Bagnall and part-time non-stipendiary Associate Priest, Reverend Andrew Day, served the church faithfully during what has been a period of considerable change in the clergy team. They were also supported by a small group of local associate clergy.
At the year’s end, the Ministry Team comprised the Interim Priest in Charge, two part time self-supporting Curates, a part-time honorary Associate Priest, and the part-time Operations Director. The part-time Lay Children’s Minister and a Licensed Lay Minister were also part of the wider Ministry Team.
At the end of the year, the full-time (non-clergy) team comprised the Building and Facilities Manager (“Head Verger”), Front of House Supervisor, plus Retail and Facilities Officer (Assistant Verger). The part-time staff include the Operations Director, Interim Director of Music, Interim Assistant Director of Music and Organist, Music Administrator, Choir Stewards, Shop Manager, the Finance Manager, Administrator, ECLAS project officer, Assistant Verger and two shop staff. Volunteers have played a significant role in supporting our activities this year and we are grateful for their contribution.
Pay and remuneration of non-clergy staff is determined by recommendation from the Finance and General Purposes Committee and approved by the PCC as part of the budgetary process. The committee reviews comparable areas ofpay and uses these to make its recommendations.
Staff training is arranged as practically necessary and through our Joint Annual Review process. There is a system of formal annual reviews and regular line management meetings for staff. Related parties Great St. Mary's Trading Ltd. (Company Number 12785697)
Great St. Mary’s Trading Ltd., is a trading company owned and established by the PCC as a vehicle for managing the activities of the Michaelhouse Café and Centre in St. Michael’s Church. The company contracts with Wilson Vale Ltd. to operate the café on its behalf. Following the lifting of the restrictions associated with the pandemic, this has been a year of re-establishing the business and its activities.
The Society of Cambridge Youths
The SCY is an independent organisation which accepts responsibility for ringing the bells of Great St Mary’s for Sunday Services, University Services (along with the Cambridge University Guild of Change Ringers) and other special occasions. The Society was founded in 1724 and is the world’s second oldest bell ringing society with a continuous history. Regular practices are normally held on Monday evenings and there is a regular membership of around 25 who regularly ring the bells.
Public benefit
The PCC has paid due regard to the Charity Commission guidance on public benefit in deciding what activities the Charity should undertake,
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The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael PCC Report For the year ended 31 December 2022
Objectives and aims
The parish of St Mary the Great and St Michael is located in the heart of Cambridge, and ‘Great St. Mary’s’ is the University and Civic church, committed to providing a centre of worship, celebration and welcome - a place for exploring and living out faith, undertaking advocacy, supporting social justice and promoting an inclusive vision of society. This mission shapes and directs our activities.
Achievements and performance
As a community ofworship, prayer, hospitality and service, we seek to promote the Gospel of Christ in our parish, University, City and wider world, We are bound together byfaith, love and mutual support, striving to respect and advocate for all people andfor our environment. The lifting of the restrictions imposed during the Coronavirus pandemic meant that 2022 was a year in which the church reinstated a number of activities and sought to continue to adapt and innovate to achieve outcomes that would help it achieve its objectives: . Bearing witness to andproviding opportunitiesfor Christian Worship The Church has offered three services every Sunday (plus Mattins once a month) and we have also held Morning Prayer, Monday to Friday, with a Eucharist on a Wednesday lunchtime (and other Red Letter days where possible). During term time there is a weekday Evensong, with Compline once a month. Our services are livestreamed to YouTube and Facebook and we have offered an online night prayer. Our innovative Children’s Tuesday Communion Service (The Ark) restarted in person and has been well attended. Heartsease , an opportunity for engaging with students and young people has continued in person. We have hosted other services and activities such as University, Civic Sermons and Carol Services which have been well attended in person and online.
. Engaging with and supporting the life ofthe City of Cambridge, its University and Residents There have been a number of special services over the year which we undertake as part of our role, in supporting and developing the diverse and varied life of the City and University of Cambridge and its residents. These include: The Chevin Sermon, a Remembrance Day service, University Services and our traditional carols service for the University staff. It was pleasing that local organisations that normally use the church for their annual carol service were able to return in person this year and we held two very well attended (over 1,000 people) candielit carol services. We were again pleased to be able to offer Great St. Mary’s as a venue for the presentation of the British Empire Medal by the Lord Lieutenant of Cambridge. We have continued to develop our relationship with various parts of the University and continue to work with College Deans and Chaplains to explore how our joint ministry can be further developed.
The church has continued its strong and supportive relationship with Park Street School for whom it provides governors and acts of collective worship. The school normally uses the church for significant occasions such as marking the beginning and end ofterm and saying farewell to leavers. It was a special pleasure to again be able to welcome parents to services this year.
The church organises a series of free lunchtime concerts providing a facility for residents and visitors and an opportunity for musicians to showcase their talents. These have been well attended, as have our once a month lunchtime concerts in Michaelhouse. We also make the church (and Michaelhouse chancel) available for partnership events and for hire as a concert, meeting and lecture venue. We are proud of our musical tradition and were pleased our choirs (some 75 people) were able (following the pandemic restrictions being lifted) to resume singing for services. We were sad to say goodbye to our Director of Music, Sam Hayes who had been with us for many years. Our orchestra, was also able to resume giving concerts, including the usual Christmas one with the choirs.
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The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael PCC Report For the year ended 31 December 2022
Achievements and performance (cont.)
Michaelhouse café is now operated on behalf of our trading company by contract caterers, Wilson Vale Ltd. We work closely together to provide a safe and welcoming space for locals and visitors to engage with us and explore their faith in various ways — through our hospitality, talks and events, exhibitions and the opportunity to use the Hervey De Stanton Chapel for quiet prayer. We have taken a conscious decision to focus on developing Michaelhouse as a resource for sharing our faith and engaging with visitors and the local community.
° Developing our Ministry to Visitors
Given our prime location in Cambridge, engagement with visitors is a core part of our ministry. In recent years, our visitor numbers to the church have exceeded 300,000. The numbers climbing our tower have returned to pre-pandemic levels and although overseas visitors have returned this year a significant number of our visitors are from the UK. Our Michaelhouse café is popular with visitors and locals alike.
- ° Supporting Social Justice and Promoting an Inclusive Vision ofSociety
This year, we became accredited by the Living Wage Foundation as a Real Living Wage employer.
The Wider Concerns Committee organised special collections at each major festival on behalf of third parties for charitable work locally and overseas. The funds were particularly to support very poor families to help them become sustainable, and locally through Cambridge Aid, to help those struggling with the cost of living crisis. Major collections were held during the year, as well as a plant sale, for humanitarian aid for Ukraine via UNHCR. In co-operation with Cambridge4 Ukraine and the Cambridge Refugee Resettlement Campaign we are providing support for Ukrainian refugee families. We continued to provide a retail outlet for sales goods in support of Partners for Change, Ethiopia. We sold Christmas cards in aid of the Princess Basma Centre in Jerusalem working with disabled children of any nationality.
We held several collections for the Cambridge City Foodbank and at our Advent Carol service for Cambridge Street Aid. As part of the Cambridge Churches Homelessness Project, and in collaboration with It Takes a City and three Colleges, we arranged six suppers for the homeless at Crossways which now provides accommodation and support for twenty homeless people each winter.
. Children and Young People
Children and Young People are a fundamentally important part of our church community and our ministry to children and young people has continued supported by many volunteers. We recruited a new Lay Minister for Children and Young People, Christyana Visk who worked hard to develop our offering for families and to establish Michaelhouse as a base for this work. We invested in resources and furnishings and were supported in this by the Church Schools of Cambridge. Unfortunately, Christyana left us in the Autumn to return to the U.S.A. We are grateful for her work and also pleased to have recruited Dafyyd Russell Jones as her replacement. We were also very grateful to receive a grant that allowed us to recruit Rebekah Perez as a (fixed term) Creche Worker to help support our provision to all ages on a Sunday. Our innovative Ark communion service for young children and their parents/carers has continued to be well attended by parents and (pre-school) children on a Tuesday morning.
The Boys, Girls and Junior choirs provide a solid musical education and other opportunities for young people whether or not they are otherwise involved with the church.
. Education, Heritage and the Environment
During the pandemic, our education and heritage work was necessarily put on hold. However, we applied for and were awarded a grant from the church engagement scheme, Equipping Christian Leadership in an Age of Science (ECLAS) for work to demonstrate how engaging with science can lead to a deeper experience of faith, Hannah Harrison was recruited to develop resources and engage with schools to help children and young people connect with the scientific and faith aspects of caring for our environment. This is a one year project, but we will be considering how best to incorporate it into our core work in future.
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The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael
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PCC Report For the year ended 31 December 2022
Achievements and performance (cont.)
° Concernfor the Environment
The Environment Group's members are active in raising awareness of environmental issues and have worked with other groups and churches across the city to respond to and highlight environmental issues. We hosted the Loving Earth project Exhibition at Michaelhouse in the spring. The church has highlighted the need to plan for a long term sustainable solution for our heating needs and will begin work on this in the next year. We currently hold silver Eco Church status and are continuing to work towards the Gold.
° Safeguarding
Safeguarding has continued to be a high priority. The Safeguarding Committee has ensured that practices and procedures have been reviewed and
up-dated. Training for staff and volunteers has continued and we have worked to raise awareness of Safeguarding issues.
. Building Community and Pastoral Care
During 2022 we continued to develop ways of supporting and engaging with the church community and providing pastoral care following the destabilising period of the pandemic. Online study and house group meetings continued and events such as Lent talks, coffee and the Women’s and Men’s breakfasts were held in person. There are now more bible study and other small groups opportunities than there were before the pandemic. Our clergy and a team of volunteers have provided pastoral visits and have kept in touch with the congregation in person, by telephone and through our online newsletter. Our Chaplain to the Market Place had to relinquish his role for personal reasons and we are grateful to him in all that he did.
° Developing Communication
We have continued to explore ways of engaging with our many visitors. Our social media presence continues to be popular and effective, providing opportunities for people to learn more about the various aspects of our faith community. The online eMag reaches 400 people a week, and our website traffic is substantial with sometimes over a thousand visits a week.
° Ensuring our Systems and Processes are Fitfor Purpose
We have continued to review our processes and procedures including developing new risk assessments and policies where appropriate.
Principal risks and uncertainties
The principal financial risk is if there were to be circumstances in which the tower or cafe had to be closed for a time. In the light of the pandemic we reviewed our systems, processes and staffing levels to ensure that visitors and customers were as safe as possible. Visitor numbers were reduced dramatically when restrictions due to the pandemic were in place, but Cambridge continues to be a popular visitor attraction and since re-opening our visitor numbers to the church and Michaelhouse have built up and are now at pre pandemic levels.
Financial Review
Despite our reservations the income dependent on visitors bounced back to pre-pandemic levels, which was more than we budgeted, and was £160,000 up on 2021 and £66,000 up on pre-pandemic times in 2019. Unrestricted pledged giving and donations decreased by almost £50,000 but this was due to there being two donations in 2021 in excess of £20,000. Restricted donations decreased due to there being very generous non-recurring donations in 2021. Costs returned to pre-pandemic levels and despite the absence of the income from the Government’s Coronavirus Job Retention Scheme, there was an unrestricted surplus for the year of £146,218 excluding designated funds, which enabled us to transfer £50,000 to the designated fabric fund.
The PCC was again able to pay the Ministry Share requested. Fundraising continued for the South Aisle Roof and we transferred another £16,667 from unrestricted funds, an amount equal to the mortgage repayments. The balance of£93,551 has been added to our free reserves, making a total of £297,824 towards our target free reserves of £425,000.
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- The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael PCC Report For the year ended 31 December 2022
Financial Review (cont.)
There were no significant expenditures on repairs or improvements during the year, which enabled the designated Fabric Fund to again remain unused. As mentioned last year we are aware that over the next 4-5 years we will have to spend several hundred thousand pounds on repairs to the tower and North Aisle roof.
This year’s accounts again include the trading subsidiary set up to run the café in Michaelhouse and as a result of trading levels bouncing back from the pandemic the café and other activities in Michaelhouse contributed profits of £29,555, after charges by the church for rent and admin of £38,443, of which £7,472 was paid over to the church.
Going concern
In 2022 income levels returned to pre-pandemic levels and the church is budgeting another surplus for 2023. The Trustees are confident that the church has sufficient reserves and continuing income streams to continue as a going concern.
Principalfunding sources
The major regular sources of funds for normal operations continue to be charitable donations from Church members and charges made to visitors to climb the tower and from the sale of gifts and books from the shop. We continue to receive a grant from the University and rents from the investment properties.
Investment policy
Great St Mary’s reserves, excluding those invested in investment assets, are invested in low-risk deposit accounts.
Reserves policy
The church’s aim is to hold free reserves equivalent to one year’s normal running costs, excluding visitor related costs, (around £425,000) so that it can continue its charitable purposes should there be a significant reduction in the income from visitors who contribute about 60% of the total income in a normal year. At the beginning of the year the church had built up free reserves of £204,273 which have now increased to £297,824 and the church looks to build towards the reserves target in future years.
Investments
The Charity holds two properties and a small portfolio of gifted shares as investments for annual rental, dividends and capital growth.
Volunteers
The Church has continued to rely on volunteers throughout the year in addition to the paid staff. It is not possible to quantify their efforts but they are greatly appreciated.
The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael
PCC Report For the year ended 31 December 2022
Future Developments
The illness and resignation of the Vicar meant that we had to place our intended strategic re-visioning on hold, The process for recruiting a new vicar is underway aiming to make an appointment by the end of June. We hope that we will be able to proceed with this work in 2023 and will include as many of our stakeholders as possible in this process. In the meantime, we will focus on developing our existing objectives by:
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° Reviewing and adapting our capacity and structures, so that our organization is fit for purpose. ° Developing the ministry team following the appointment of a new incumbent. . Continuing and developing our role as a place of worship and welcome for all who wish to join us. ° Developing ways to help people engage with the Christian faith and its relationship to the important topics of the day. e Building on our relationships with the University, the City and its residents so that we can be responsive to their needs and work positively with them in our role as the Civic and University church.
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. Reviewing our education programme. e Building on our strong relationship with Park Street School. . Continuing to improve our ministry of welcome to our many visitors including developing the role of volunteer welcomers and interpretation.
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. Continuing to ensure that Safeguarding processes and administration are robustly carried out and policies and practices reviewed. ° Undertake a comprehensive review and updating of all our policies. e Continuing to develop the ministry of worship, music, study, pastoral care and for children and young people. Raising awareness of social and environmental issues and working towards Gold Eco Church status.
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. Continuing to develop our international and UK mission partnerships and fund raising activities, and social initiatives such as the Cambridge Churches Homelessness project in collaboration with eight churches and a synagogue.
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. Work closely with Wilson Vale to develop the café and other facilities at Michaelhouse as a resource for sharing our faith and engaging with visitors and the local community.
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. Integrating our ECLAS grant funded project working with our other education and heritage work, engaging with schools and others to explore issues around sustainability and climate change
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° To play our role in wider church networks.
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The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael
PCC Report
For the year ended 31 December 2022
Statement of Trustees’ Responsibilities
The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice),
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed require the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and the income and expenditure, of the Charity for that period. In preparing those financial statements, the Trustees are required to:
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. select suitable accounting policies and then apply them consistently; . observe the methods and principles in the Charity SORP;
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. make judgements and estimates that are reasonable and prudent; ° prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the PCC on 29 March 2023
The Revd Canon Jutta Brueck (Chair)
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Independent Auditor's Report to the
Parochial Church Council of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael
Opinion
We have audited the financial statements of the Parochial Church of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael and its undertakings for the year ended 31 December 2022 which comprise the Consolidated Statement of Financial Activities, Statement of Financial Activities for the Parent Charity, Consolidated Balance Sheet, Balance Sheet for the Parent Charity, the Cash Flow Statement and related notes, including a summary of significant accounting policies, These financial statements have been prepared under the historic cost convention and the accounting policies set out therein.
In our opinion the financial statements:
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~ give a true and fair view of the state of the parent charity and its subsidiary undertakings affairs as at 31 December 2022 and of its incoming resources and application of resources in the year then ended;
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comply with the requirements of Regulation 15 and that the consolidated balance sheet gives a true and fair view of the state of affairs of the parent charity at the end of the financial year and that the consolidated SOFA gives a true and fair view of the total incoming resources of the parent charity and its subsidiary undertakings and movements in the total resources of the group in the relevant year;
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have been properly prepared in accordance with the requirements of regulation 8 of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law.
Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the Financial Statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the provisions available for smaller entities, in the circumstances set out in Note 16 to the Financial Statements, and we have fulfilled our other ethical responsibilities in accordance with those requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concuded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt over the charity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the respnsibilities of the trustes with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves.
If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:
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the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept in accordance with s130 of the Charities Act 2011; or
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~ the financial statements are no in agreement with the accounting records and returns; or
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we have not received all the information and explanations to which we are entitled under regulation 33 for our audit.
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Independent Auditor's Report to the
Parochial Church Council of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael
Responsibilities of trustees
As explained more fully in the statement of Trustees Responsibilities, the trustees are responsible for the preparation of the Financial Statements and for being satisfied that they give a true and fair view, and for such internal controls as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity, or cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis ofthese financial statements. Details of the extent to which the audit was considered capable ofdetecting irregularities, including fraud and non compliance with laws and regulations are set out below.
Most transactions are reviewed during the audit as extensive analysis of costs is required in accounts preparation. The extensive nature of the accounts preparationwork means that we can place more reliance on the figures and therefore consider the overall risk of the irregularities to to be low. Material items have been agreed back to base documentation, and where appropriate to the minutes of the meetings of the Parochial Church Council.
Audit procedures performed during the audit included transaction testing with a focus on areas of judgement and estimations, and entries determined to be large or relating to unusual transactions. These audit procedures are designed to provide reasonable assurance that the Financial Statements were free trom fraud or error. However, detecting irregularities that result from fraud is inherently more difficult than detecting those that result from error, as those irregularities that result from fraud may involve collusion, deliberate concealment, forgery or intentional misrepresentations.
No instances of non compliance with laws and regulations or of fraud were communicated to us during the audit. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of the report of the Independent Auditors.
Other Matters
There are no other matters to report.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Section 144 and 151 of[the][Charities][Act][2011] and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body. for our audit work, for this report, or for the opinions we have formed.
ius ee ee ee Matthew Pettifer FCA Institute of Chartered Accountants in England and Wales Staffords Chartered Accountants
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Date: I°AW4/23
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Unit 1, Cambridge House Camboro Business Park Oakington Road Girton, CB3 0QH United Kingdom
:
The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael
Consolidated Statement of Financial Activities incorporating the Income and Expenditure Account For the year ended 31 December 2022
| Unrestricted | Restricted | Total | Total | Total | Total | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2022 | Funds | 2021 | |||||
| £ | £ | £ | £ | |||||||
| INCOME FROM | Note | |||||||||
| Donations & legacies | 149,316 | 44,355 | 193,671 | 375,709 | ||||||
| Other trading activities | 1,074,852 | - | 1,074,852 | 627,107 | ||||||
| Income from investments | 34,731 | - | 34,731 | 29,771 | ||||||
| Other incomingresources | 1,464 | ” | 1,464 | 29,165 | ||||||
| Income from charitable activities | 8,729 | - | 8,729 | 12,633 | ||||||
| TOTAL INCOME | 3 | 1,269,092 | 44,355 | 1,313,447 | 1,074,385 | |||||
| EXPENDITUREON | ||||||||||
| Charitable activities | 320,527 | 67,670 | 388,197 | 353,353 | ||||||
| Raisingfunds | 775,317 | - | 715,317 | 516,435 | ||||||
| Other expenses | 1,617 | - | 1,617 | 2,043 | ||||||
| TOTALEXPENDITURE | 4 | 1,097,461 | 67,670 | 1,165,131 | 871,831 | |||||
| NETINCOME/(EXPENDITURE)BEFORE | ||||||||||
| UNREALISED GAINSONINVESTMENTASSETS | 171,631 | ( | 23,315 | ) | 148,316 | 202,554 | ||||
| Unrealised gains/(losses) on investment assets inyear | 61,921 | - | 61,921 | - | ||||||
| Funds transferred inyear | ( | 2,667 ) | 2,667 | - | - | |||||
| NETMOVEMENTINFUNDS | 230,885 | ( | 20,648 | ) | 210,237 | 202,554 | ||||
| Balances brought forward at 1 January 2022 | 1,057,304 | 161,463 | 1,218,767 | 1,016,213 | ||||||
| BALANCES CARRIEDFORWARDAT | ||||||||||
| 31DECEMBER2022 | 1,288,189 | 140,815 | 1,429,004 | 1,218,767 |
The notes on pages 18 to 32 form part of the financial statements
14
: :
Statement of Financial Activities incorporating the Income and Expenditure Account For the year ended 31 December 2022
| Unrestricted | Restricted | Total | Total | Total | Total | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2022 | Funds | 2021 | |||||
| £ | £ | £ | £ | |||||||
| INCOMEFROM | Note | |||||||||
| Donations& legacies | 156,788 | 44,355 | 201,143 | 375,709 | ||||||
| Othertrading activities | 401,810 | - | 401,810 | 198,464 | ||||||
| Income from investments | 35,862 | - | 35,862 | 29,771 | ||||||
| Otherincomingresources | 1,464 | - | 1,464 | 29,165 | ||||||
| Incomefrom charitable activities | 8,729 | - | 8,729 | 12,633 | ||||||
| TOTALINCOME | 3 | 604,653 | 44,355 | 649,008 | 645,742 | |||||
| EXPENDITURE ON | ||||||||||
| Charitable activities | 324,728 | 67,670 | 392,398 | 353,353 | ||||||
| Raisingfunds | 128,759 | - | 128,759 | 78,104 | ||||||
| Other expenses | 1,617 | - | 1,617 | 2,043 | ||||||
| TOTALEXPENDITURE | 4 | 455,104 | 67,670 | 522,774 | 433,500 | |||||
| NETINCOME/(EXPENDITURE) BEFORE | ||||||||||
| UNREALISED GAINSONINVESTMENTASSETS | 149,549 | ( | 23,315 | ) | 126,234 | 212,242 | ||||
| Unrealised gains/(losses) on investment assets inyear | 61,921 | - | 61,921 | - | ||||||
| Funds transferred inyear | ( | 2,667 ) | 2,667 | - | - | |||||
| NETMOVEMENTINFUNDS | 208,803 | ( | 20,648 | ) | 188,155 | 212,242 | ||||
| Balances brought forward at 1 January2022 | 1,066,992 | 161,463 | 1,228,455 | 1,016,213 | ||||||
| BALANCES CARRIED FORWARDAT | ||||||||||
| 31DECEMBER2022 | 1,275,795 | 140,815 | 1,416,610 | 1,228,455 |
The notes on pages 18 to 32 form part of the financial statements
i
: : i : ; : ;
| 15. | |||||||
|---|---|---|---|---|---|---|---|
| ThePCC ofthe Ecclesiastical Parish ofCambridge | Cambridge StMarythe Greatwith StMichael | ||||||
| Consolidated Balance Sheet | |||||||
| As at31 December 2022 | |||||||
| 2022 | 2021 | ||||||
| Note | £ | £ | £ | £ | |||
| Fixed Assets | 8 | ||||||
| Fixtures& fittings | 24,597 | 28,213 | |||||
| 38 EachardRoad (freehold) | 600,000 | 537,500 | |||||
| 55 Hanover Court (leasehold) | 300,000 | 300,000 | |||||
| Fixed AssetInvestments | 9 | 3,016 | 3,536 | ||||
| 927,613 | 869,249 | ||||||
| Current Assets | |||||||
| Debtors | 10 | 28,584 | 38,900 | ||||
| Gift shop stock | 26,045 | 22,573 | |||||
| Cash atbank and inhand | 140,917 | 172,729 | |||||
| BankDeposits | 437,312 | 304,253 | |||||
| GSMTradingBank | 45,883 | 5,016 | |||||
| 678,741 | 543,471 | ||||||
| Creditors: Amounts falling duewithin | |||||||
| one year | 11 | ( | 102,350 ) | ( | 102,286 ) | ||
| Net Current Assets | 576,391 | 441,185 | |||||
| Creditors: Amounts falling due in more | |||||||
| than one year | 12 | ( | 75,000 ) | ( | 91,667 ) | ||
| TOTALNETASSETS | 1,429,004 | 1,218,767 | |||||
| FUNDS | 17 | ||||||
| Unrestricted funds | 431,908 | 285,026 | |||||
| Property investment gain reserve | 843,887 | 781,966 | |||||
| Non-charitabletrading funds | 12,394 | ( | 9,688 ) | ||||
| TotalUnrestricted funds Restricted |
1,288,189 140,815 |
1,057,304 161,463 |
|||||
| 1,429,004 | 1,218,767 |
;
The notes on pages 18 to 32 form part of the financial statements
Approved by the Parochial Church, Council on 29 March 2023 and signed on its behalf by:
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a
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The Revd Canon Jutta Brueck (Chair)
' i i : : :
The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael Balance Sheet
As at 31 December 2022
| 2022 | 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |||||
| Fixed Assets | 8 | ||||||||
| Fixtures& fittings | 13,525 | 17,600 | |||||||
| 38 EachardRoad (freehold) | 600,000 | 537,500 | |||||||
| 55 Hanover Court (leasehold) | 300,000 | 300,000 | |||||||
| Fixed AssetInvestments | 9 | 3,017 | 3,537 | ||||||
| 916,542 | 858,637 | ||||||||
| Current Assets | |||||||||
| Debtors | 10 | 63,046 | 46,588 | ||||||
| Giftshop stock | 26,045 | 22,573 | |||||||
| Cash atbank and inhand | 140,917 | 172,729 | |||||||
| BankDeposits | 437,312 | 304,252 | |||||||
| 667,320 | 546,142 | ||||||||
| Creditors: Amounts falling duewithin | |||||||||
| one year | 11 | ( | 92,252 ) | ( | 84,657 ) | ||||
| Net CurrentAssets | 575,068 | 461,485 | |||||||
| Creditors: Amounts falling due inmore | |||||||||
| than oneyear | 12 | ( | 75,000 ) | ( | 91,667 ) | ||||
| TOTALNETASSETS | 1,416,610 | 1,228,455 | |||||||
| FUNDS | 17 | ||||||||
| Unrestricted funds | 431,908 | 285,026 | |||||||
| Property investment gain reserve | 843,887 | 781,966 | |||||||
| Total Unrestricted funds | 1,275,795 | 1,066,992 | |||||||
| Restricted | 140,815 | 161,463 | |||||||
| 1,416,610 | 1,228,455 |
The notes on pages 18 to 32 form part of the financial statements
Approved by the Parochial Church Council on 29 March 2023 and signed on its behalf by: eoThe Revd Canon Jutta Brueck Brueck (Chair)
The Revd Canon Jutta Brueck Brueck (Chair)
17,
;
: : : : :
;
The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael
Statement of Cash Flows and Consolidated Statement of Cash Flows As at 31 December 2022
----- Start of picture text -----
||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|2022|2021|
|Group|Charity|Group|Charity|
|Note|£|£|£|£|
|Net cash|used|in|operating|activities|112,131|66,244|206,812|188,529|
|Cash flowsfrom|investing|activities:|
|Interest|and|dividends|4,931|6,062|1,424|1,424|
|Purchase of equipment|(|4,689|)|(|799 )|(|33,692 )|(|20,426|)|
|Purchase of fixed|asset investment|(|59)|(|59)|(|3,536 )|(|3,536|)|
|Property|rental|income|29,800|29,800|28,347|28,347|
|Net|cash|provided|by|investing|activities|29,983|35,004|(|7,457|)|5,809|
|Change|in|cash|and|cash|equivalents|in|the year|142,114|101,248|199,355|194,338|
|Cash and|cash|equivalent brought forward|481,998|476,981|282,643|282,643|
|Cash|and|cash|equivalent|carried|forward|624,112|578,229|481,998|476,981|
|Reconciliation|of net|movement in|funds|to|net|cash|flow|from|operating|activities|
|Net movement|in funds|210,237|188,155|202,555|212,242|
|Adjustments|for:|
|Depreciation|charges|8,305|4,874|7,749|5,096|
|Dividends,|interest and rents|from|investments|(|34,731)|(|35,862|)|(|29,771|)|¢|29,771|)|
|Revaluation|of investment|properties|(|62,500|)|(|62,500|)|-c|-|
|Revaluation|of investments|579|579|-|-|
|(Increase)|in|stocks|(|3,472|)|(|3,472|)|(|387|)|(|387|)|
|Decrease|in|debtors|10,316|(|16,458|)|2|(|7,686|)|
|Increase|in|creditors|(|16,603|)|(|9,072|)|26,664|9,035|
|Net cash|(used|in)|/ provided|by|operating|activities|112,131|66,244|206,812|188,529|
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: / ; : : : :
The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022
1 Legal Form
The Parochial Church Council is a corporate body established by the Church of England and operates under the Parochial Church Powers Measure 1956 as currently amended and the Church Representation Rules as currently amended. The Church Wardens Measure 2001 is also applicable. The church is a registered charity registered in England and Wales number 1127668.
The address is Great St Mary's, The University Church, Senate House Hill, Cambridge, CB2 3PQ.
2 Accounting Policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
Basis of preparation
The financial statements have been prepared in accordance with the Church Accounting Regulations 2006, together with FRS 102 "The Financial Reporting Standard Applicable in the UK and Republic of Ireland" and Statement of Recommended Practice “Accounting and Reporting by Charities" FRS 102 (2019).
Great St Mary's PCC meets the definition of a public benefit entity under FRS 102.
The financial statements have been prepared under the historical cost convention except for investment properties which are shown at market value.
Going Concern Basis
The PCC considers that the going concern basis is appropriate as they consider the reserves levels and expected giving and other income to be at sufficient levels to ensure that the PCC can meet its financial obligations for the next 12 to 18 months and on that basis the PCC is a going concern, There are no material uncertainties about the PCC's ability to continue. 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 by 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.
Income Income is recognised when the PCC has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Voluntary income and capital sources
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||||||||||
|---|---|---|---|---|---|---|---|---|
|-|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 income|is|recognised.|
|Other|income|
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- rental income from the letting of the church premises is recognised when the rental is due. - Gift shop and tower income is recognised net of VAT. Incomefrom investments - Interest entitlements are accounted for as they accrue. Grant income - Grant income is recognised when the PCC is legally entitled to the income and it can be measured with reasonable certainty.
19,
: : : : : i ; : : : :
The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022
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||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Legacy|income|
|-|for|legacies|entitlement|is|taken|as the|earlier of the date|on which|either:|the PCC|is|aware|that probate has been|granted,|the|
|estate|has been|finalised|and|notification|has been made by the|Executors|to|the Trust|that a|distribution will be made,|or when|a|
|distribution|is|received|from|the|Estate.|Receipt of a|legacy,|in whole|or|in part,|is|only|considered|probable when|the|amount can|
|be measured reliably.|
|Trading|income|
|- the trading|income|of the|subsidiary|is measured|at the|fair value|of the consideration received|or receivable,|excluding|discounts,|
|rebates,|value|added|tax|and|other|sales|taxes.|
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Resources expended
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|---|---|---|---|---|---|---|---|---|---|---|---|
|Grants|
|-|Grants|and|donations|are accounted|for when paid|over,|or when|awarded,|if that award|creates|a binding obligation on the PCC.|
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Activities directly relating to the work ofthe Church - The diocesan parish share is accounted for when payable. Any parish share unpaid at 31 December is accounted for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the Balance Sheet. The PCC considers that there is only one main activity - that of running the church. Therefore no further analysis of church activities has been made in the accounts.
Expenses relating to the subsidiary - Expenses relating to the subsidiary income are treated as café running costs in the consolidated accounts.
Fixed Assets Consecrated property is not included in the accounts in accordance with s.10(2)(a) and (c) of the Charities Act 2011. Assets listed in the Church inventory, which require a faculty for disposal, are inalienable property and not included in the accounts. For inalienable property acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired since 1 January 2000 have been capitalised and depreciated in the accounts over their currently anticipated useful economic life (initially over 5 years) on a straight line basis. Fixed assets of the subsidiary are depreciated in the accounts over their estimated useful life (initially over 5 years) on a straight line basis.
Investment Properties
Investment properties are shown at market value, valued regularly by the Trustees having sought professional advice.
Investments
Listed investments are shown at market value.
Stocks
Stocks held for the gift shop and book shop are shown at the lower of cost and net realisable value.
Current Assets
Amounts owing to the PCC, or the subsidiary, as 31 December in respect of fees, rents or other income are shown as debtors less provisions for amounts that may prove uncollectable.
Short terms deposits include cash held on deposit.
Creditors and provisions
Creditors and provisions are recognised when the PCC, or the subsidiary, has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Financial instruments
The PCC only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
The PCC has elected to account for the concessionary loan at repayment amount, as permitted by the Charities SORP. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
:
The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2022
Subsidiary
Great St Mary's Trading Limited is wholly owned by the Charity and consolidated within these accounts. Great St Mary's Trading Ltd, company number 12785697, is a company limited in England. The registered office is Great St Mary's, The University Church, Senate House Hill, Cambridge, CB2 3PQ.
Consolidation
All items of incoming resources and resources expended are shown gross after the removal of intra-group transactions. Where incoming resources or resources expended are of a similar activity in the subsidiary these have been included within the same category as in the parent charity.
Pension costs
The PCC contributes to an Auto-Enrolment pension scheme on behalf of its employees. This is a defined contribution pension scheme. Contributions are accounted for when payable.
: : : : : : : :
The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2022
3 Income from:
Parent Charity and its subsidiary undertakings:
| Parent Charity andand its subsidiary undertakings: | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| Funds | Funds | Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |||
| Donations& legacies | ||||||
| Pledged giving and donations | 104,747 | 35,278 | 140,025 | 308,711 | ||
| Taxrecoverable | 22,520 | - | 22,520 | 25,725 | ||
| Collections | 5,943 | 8,577 | 14,520 | 9,056 | ||
| Boxes | 8,079 | - | 8,079 | 4,568 | ||
| University grants | 1,780 | - | 1,780 | 17,311 | ||
| Listed Places ofWorship Scheme Grants | 1,253 | - | 1,253 | 291 | ||
| ChurchSchools ofCambridge Grant | - | 500 | 500 | 411 | ||
| College and other grants | 4,994 | - | 4,994 | - | ||
| Michaelhouse General Grant | - | - | - | 9,500 | ||
| Friends ofGreatStMary's | : | a | ~ | 136 | ||
| 149,316 | 44,355 | 193,671 | 375,709 | |||
| Other trading activities | ||||||
| Concerts& events | 8,440 | - | 8,440 | 4,365 | ||
| Café Sales | 700,668 | - | 700,668 | 425,121 | ||
| Hiring income | 10,817 | ” | 10,817 | 3,522 | ||
| Towerandshop | 354,927 | - | 354,927 | 194,099 | ||
| 1,074,852 | - | 1,074,852 | 627,107 | |||
| Income from investments | ||||||
| Interest and dividends | 4,931 | - | 4,931 | 1,424 | ||
| Property rental | 29,800 | - | 29,800 | 28,347 | ||
| 34,731 | - | 34,731 | 29,771 | |||
| Income from charitable activities | ||||||
| Church lettings and fees | 8,509 | - | 8,509 | 12,365 | ||
| Education | - | - | - | 48 | ||
| St Michael's license fee | 220 | - | 220 | 220 | ||
| 8,729 | - | 8,729 | 12,633 | |||
| Otherincoming resources | ||||||
| HMRC Job RetentionScheme | - | . | - | 27,391 | ||
| Otherincomingresources | 1,464 | “ | 1,464 | 1,774 | ||
| 1,464 | a | 1,464 | 29,165 | |||
| Totalincome | 1,269,092 | 44,355 | 1,313,447 | 1,074,385 |
: : ; : : : : : : :
The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022
| 3 Income from: | ||||||
|---|---|---|---|---|---|---|
| Parent Charity: | ||||||
| Unrestricted | Restricted | Total | Total | |||
| Funds | Funds | Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |||
| Donations & legacies | ||||||
| Pledged giving and donations | 112,219 | 35,278 | 147,497 | 308,711 | ||
| Taxrecoverable | 22,520 | - | 22,520 | 25,725 | ||
| Collections | 5,943 | 8,577 | 14,520 | 9,056 | ||
| Boxes | 8,079 | - | 8,079 | 4,568 | ||
| Universitygrants | 1,780 | - | 1,780 | 17,311 | ||
| Listed Places ofWorship Scheme Grants | 1,253 | - | 1,253 | 291 | ||
| ChurchSchools ofCambridge Grant | - | 500 | 500 | 411 | ||
| Collegeand othergrants | 4,994 | - | 4,994 | - | ||
| Michaelhouse Grant | - | - | - | 9,500 | ||
| Friends ofGreat StMary's | - | - | - | 136 | ||
| 156,788 | 44,355 | 201,143 | 375,709 | |||
| Othertrading activities | ||||||
| Concerts & events | 8,440 | - | 8,440 | 4,365 | ||
| Michaelhouse rent and admin | 38,443 | 38,443 | - | |||
| Towerandshop | 354,927 | - | 354,927 | 194,099 | ||
| 401,810 | - | 401,810 | 198,464 | |||
| Income from investments | ||||||
| Interest and dividends | 6,062 | - | 6,062 | 1,424 | ||
| Property rental | 29,800 | - | 29,800 | 28,347 | ||
| 35,862 | “ | 35,862 | 29,771 | |||
| Incomefrom charitable activities | ||||||
| Churchlettings and fees | 8,509 | - | 8,509 | 12,365 | ||
| Education | “ | - | ” | 48 | ||
| StMichael's licensefee | 220 | - | 220 | 220 | ||
| 8,729 | - | 8,729 | 12,633 | |||
| Otherincoming resources | ||||||
| HMRC Job Retention Scheme | - | - | - | 27,391 | ||
| Otherincomingresources | 1,464 | ” | 1,464 | 1,774 | ||
| 1,464 | - | 1,464 | 29,165 | |||
| Totalincome | 604,653 | 44,355 | 649,008 | 645,742 |
:
: : : :
i
The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2022
| 4 Expenditure on | |||||||
|---|---|---|---|---|---|---|---|
| Parent Charityanditssubsidiary undertakings: | Unrestricted | Restricted | Total | Total | |||
| Funds | Funds | Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||||
| Charitable Activities: Church Running Costs | |||||||
| Parish share: salaries, housing andtraining | 93,191 | - | 93,191 | 91,760 | |||
| Clergyexpenses | 6,095 | - | 6,095 | 5,492 | |||
| Children and youth | 1,576 | 14,244 | 15,820 | 860 | |||
| Equipping ChristianLeadership in anageofscience Flowers |
- 2,899 |
7,446 - |
7,446 2,899 |
- 2,308 |
|||
| Communionwineand candles | 2,534 | - | 2,534 | 893 | |||
| Organists' salaries and fees | 23,381 | 12,542 | 35,923 | 35,011 | |||
| Choirand otherexpenses | 17,337 | - | 17,337 | 17,167 | |||
| Music | 1,934 | - | 1,934 | 1,676 | |||
| Organ andpiano maintenance | 1,340 | “ | 1,340 | 2,823 | |||
| Administration salaries | 47,809 | 13,356 | 61,165 | 48,805 | |||
| Pastoral salaries | - | - | - | 7,000 | |||
| Stationeryand copying | 8,451 | - | 8,451 | 4,678 | |||
| Equipment&IT | 12,104 | - | 12,104 | 8,782 | |||
| Telephone& internet | 2,693 | - | 2,693 | 1,028 | |||
| Postage | 96 | ~ | 96 | 77 | |||
| Books& subscriptions | 85 | - | 85 | 133 | |||
| Bank charges | 171 | - | 171 | 1,551 | |||
| Sundry | 7,965 | - | 7,965 | 2,106 | |||
| Cleaning | 10,084 | - | 10,084 | 6,986 | |||
| Vergingand stewarding | 26,405 | - | 26,405 | 45,781 | |||
| Church insurance | ; | 13,825 | - | 13,825 | 13,887 | ||
| Utilities | 11,240 | - | 11,240 | 8,829 | |||
| Maintenance | 18,088 | - | 18,088 | 4,306 | |||
| StMichael's maintenance | - | - | - | 3,104 | |||
| Heritage education | - | - | - | 4,977 | |||
| Depreciation | 4,874 | - | 4,874 | 5,096 | |||
| WiderConcerns Collections | - | 20,082 | 20,082 | 25,728 | |||
| IndependentExaminer | - | - | - | 187 | |||
| Audit fees | 6,350 | - | 6,350 | 5,000 | |||
| Bad debts | - | 5 | - | 424 | |||
| 320,527 | 67,670 | 388,197 | 356,455 | ||||
| Expenditure on Raising funds | |||||||
| Tower and shop | 110,087 | - | 110,087 | 58,036 | |||
| Concerts | 5,276 | - | 5,276 | 2,502 | |||
| Café Costs of sales | 591,548 | 7 | 591,548 | 389,149 | |||
| Caferunning costs | 51,579 | - | 51,579 | 46,529 | |||
| Depreciation | 3,431 | - | 3,431 | 2,653 | |||
| Property management& repairs | 10,495 | - | 10,495 | 15,212 | |||
| Advertising& website | 2,901 | - | 2,901 | 2,354 | |||
| 775,317 | - | 775,317 | 516,435 | ||||
| Other resources expended | |||||||
| Methodistloan interest payable | 1,617 | - | 1,617 | 2,043 | |||
| 1,617 | - | 1,617 | 2,043 | ||||
| Totalexpenditure | 1,097,461 | 67,670 | 1,165,131 | 874,933 |
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The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2022
| 4 Expenditure on | ||||||
|---|---|---|---|---|---|---|
| Parent Charity: | ||||||
| Unrestricted | Restricted | Total | Total | |||
| Funds | Funds | Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |||
| Charitable Activities: Church Running Costs | ||||||
| Parish share: salaries, housing andtraining | 93,191 | - | 93,191 | 91,760 | ||
| Clergy expenses | 6,095 | - | 6,095 | 5,492 | ||
| Childrenandyouth | 1,576 | 14,244 | 15,820 | 860 | ||
| Equipping Christian Leadership in an ageofscience | - | 7,446 | 7,446 | - | ||
| Flowers | 2,899 | - | 2,899 | 2,308 | ||
| Communionwine and candles | 2,534 | - | 2,534 | 893 | ||
| Organists' salaries and fees | 23,381 | 12,542 | 35,923 | 35,011 | ||
| Choirand otherexpenses | 17,337 | - | 17,337 | 17,167 | ||
| Music | 1,934 | - | 1,934 | 1,676 | ||
| Organandpianomaintenance | 1,340 | - | 1,340 | 2,823 | ||
| Administration salaries | 47,809 | 13,356 | 61,165 | 48,805 | ||
| Pastoral salary | - | - | - | 7,000 | ||
| Stationeryand copying | 8,451 | - | 8,451 | 4,678 | ||
| Equipment&IT | 12,104 | - | 12,104 | 8,782 | ||
| Telephone& internet | 2,693 | - | 2,693 | 1,028 | ||
| Postage | 96 | - | 96 | TI | ||
| Books& subscriptions | 85 | - | 85 | 133 | ||
| Bankcharges | 135 | - | 135 | 1,551 | ||
| Sundry Cleaning |
7,952 10,084 |
- - |
7,952 10,084 |
2,106 6,986 |
||
| Vergingandstewarding | 26,405 | - | 26,405 | 45,781 | ||
| Church insurance | 13,825 | - | 13,825 | 13,887 | ||
| Utilities Maintenance |
11,240 18,088 |
- - |
11,240 18,088 |
8,829 4,306 |
||
| St Michael'smaintenance and overheads | 5,000 | - | 5,000 | 3,104 | ||
| Heritage education | - | - | - | 4,977 | ||
| Depreciation | 4,874 | - | 4,874 | 5,096 | ||
| Wider Concerns Collections | - | 20,082 | 20,082 | 25,728 | ||
| IndependentExaminer | - | - | - | 187 | ||
| Audit fees | 5,600 | 2 | 5,600 | 5,000 | ||
| Bad debts | - | - | - | 424 | ||
| 324,728 | 67,670 | 392,398 | 356,455 | |||
| Expenditure on Raising funds | ||||||
| Towerand shop | 110,087 | - | 110,087 | 58,036 | ||
| Concerts | 5,276 | - | 5,276 | 2,502 | ||
| Propertymanagement&repairs | 10,495 | - | 10,495 | 15,212 | ||
| Advertising&website | 2,901 | - | 2,901 | 2,354 | ||
| 128,759 | - | 128,759 | 78,104 | |||
| Other resources expended | ||||||
| Methodist loan interestpayable | 1,617 | - | 1,617 | 2,043 | ||
| 1,617 | - | 1,617 | 2,043 | |||
| Totalexpenditure | 455,104 | 67,670 | 522,774 | 436,602 |
: 2 : :: / : } i
The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2022
| 5 StaffCosts & Transactions withPCC Members | 2022 | 2022 | 2021 | 2021 |
|---|---|---|---|---|
| Group | Charity | Group | Charity | |
| £ | £ | £ | £ | |
| Wages and salaries | 206,053 | 206,053 | 148,728 | 148,728 |
| Social security costs | 6,893 | 6,893 | 8,134 | 8,134 |
| Pension costs | 2,781 | 2,781 | 2,207 | 2,207 |
| 215,727 | 215,727 | 159,069 | 159,069 |
The average number of the staff during the year was 20 (2021: 12). No employee has received emoluments which exceed £60,000. No PCC member has been paid a salary in 2022 or 2021. The PCC considers there are no paid Key Management Personnel. A small immaterial part of expenses paid to the clergy may have related to their services as members of the PCC. Expenses of £13,486 (2021: £5,139) were reimbursed to PCC members for Church costs incurred personally. PCC members are not reimbursed for personal out of pocket expenses.
No PCC members were reimbursed expenses for out of pocket expenses relating to their ministry work (2021: £nil). The subsidiary had no employees, other than two directors who did not take a salary.
6 Comparatives for the Statement of Financial Activities Parent Charity:
| Parent Charity: | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||||
| Funds | Funds | Funds | 2021 | |||
| £ | £ | £ | ||||
| INCOMEFROM | ||||||
| Donations andLegacies | 202,776 | 172,933 | 375,709 | |||
| Othertrading activities | 198,464 | - | 198,464 | |||
| Incomefrom investments | 29,771 | “ | 29,771 | |||
| Otherincomingresources | 29,165 | - | 29,165 | |||
| Income from charitable activities | 12,633 | - | 12,633 | |||
| TOTALINCOME | 472,809 | 172,933 | 645,742 | |||
| EXPENDITURE ON | ||||||
| Charitable activities | 305,695 | 47,658 | 353,353 | |||
| Raising funds | 78,104 | - | 78,104 | |||
| Other expenses | 2,043 | - | 2,043 | |||
| TOTALEXPENDITURE | 3 | 385,842 | 47,658 | 433,500 | ||
| NETINCOME/(EXPENDITURE) | ||||||
| ANDNETMOVEMENT | INFUNDSBEFORETRANSFERS | 86,967 | 125,275 | 212,242 | ||
| Funds transferred inyear | ( | 16,667 ) | 16,667 | - | ||
| NETMOVEMENTINFUNDS | 70,300 | 141,942 | 212,242 | |||
| Balances brought forward at 1 January 2021 | 996,692 | 19,521 | 1,016,213 | |||
| BALANCES CARRIED | FORWARD AT | |||||
| 31DECEMBER2021 | 1,066,992 | 161,463 | 1,228,455 |
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The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022
| 7 Analysis ofNet Assets by Fund | ||||||
|---|---|---|---|---|---|---|
| Parent Charityanditssubsidiary undertakings: | Unrestricted | Restricted | ||||
| Funds | Funds | Total | ||||
| £ | £ | £ | ||||
| Fixed Assets | 927,613 | - | 927,613 | |||
| CurrentAssets | 446,259 | 232,482 | 678,741 | |||
| CurrentLiabilities | ( | 85,683 ) | ( | 16,667 ) | ( | 102,350 ) |
| Longterm Liabilities | - | ( | 75,000 ) | ( | 75,000 ) | |
| Fund Balance | 1,288,189 | 140,815 | 1,429,004 | |||
| Parent Charity: | ||||||
| Funds | RestrictedFunds | Total | ||||
| £ | £ | £ | ||||
| Fixed Assets | 916,542 | - | 916,542 | |||
| Current Assets | 434,838 | 232,482 | 667,320 | |||
| Current Liabilities | ( | 75,585 ) | ( | 16,667 ) | ( | 92,252 ) |
| Long term Liabilities | - | ( | 75,000 ) | ( | 75,000 ) | |
| Fund Balance | 1,275,795 | 140,815 | 1,416,610 | |||
| 8a TangibleFixed Assets -Investment Properties | ||||||
| Parent Charityand its subsidiary undertakings: | ||||||
| 38EachardRoad | 55HanoverCourt | Total | ||||
| Freehold | Leasehold | |||||
| MarketValue at 1 January2022 | 537,500 | 300,000 | 837,500 | |||
| Movementonrevaluation inyear | 62,500 | - | 62,500 | |||
| Market Value as at 31 December2022 | 600,000 | 300,000 | 900,000 | |||
| Historical Cost | 6,700 | 48,834 | 55,534 | |||
| Parent Charity: | ||||||
| 38 EachardRoad | 55 HanoverCourt | Total | ||||
| Freehold | Leasehold | |||||
| Market Value at 1 January2022 | 537,500 | 300,000 | 837,500 | |||
| Movement on revaluation in year | 62,500 | - | 62,500 | |||
| MarketValue as at 31 December2022 | 600,000 | 300,000 | 900,000 | |||
| HistoricalCost | 6,700 | 48,834 | 55,534 |
38 Eachard Road and 55 Hanover Court were revalued on an open market basis at the end of the year by the Trustees based on professional advice.
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The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022
| 8b Fixtures& Fittings | |||
|---|---|---|---|
| Parent Charityand its subsidiary undertakings: | |||
| Office | Fixtures | Total | |
| equipment | and fittings | ||
| Cost | £ | £ | £ |
| At1 January2022 | 101,953 | 13,266 | 115,219 |
| Additions inyear | 799 | 3,890 | 4,689 |
| At 31 December2022 | 102,752 | 17,156 | 119,908 |
| Depreciation | |||
| At 1 January2022 | 84,353 | 2,653 | 87,006 |
| Charge fortheyear | 4,874 | 3,431 | 8,305 |
| At31 December2022 | 89,227 | 6,084 | 95,311 |
| NetBookValue | |||
| At31 December2022 | 13,525 | 11,072 | 24,597 |
| At 31 December2021 | 17,600 | 10,613 | 28,213 |
| Parent Charity: | |||
| Cost | £ | £ | £ |
| At1 January2022 | 101,953 | - | 101,953 |
| Additions inyear | 799 | - | 799 |
| At31 December2022 | 102,752 | - | 102,752 |
| Depreciation | |||
| At 1 January2022 | 84,353 | - | 84,353 |
| Charge fortheyear | 4,874 | - | 4,874 |
| At31 December2022 | 89,227 | - | 89,227 |
| NetBookValue | |||
| At 31 December 2022 | 13,525 | - | 13,525 |
| At31December2021 | 17,600 | 8 | 17,600 |
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The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022
| 9 Fixed Asset Investments | |||
|---|---|---|---|
| 2022 | 2022 | ||
| Shares | Shares in Group | ||
| Undertakings | |||
| Parent Charityand its subsidiary undertakings: | |||
| £ | £ | ||
| MarketValue at 1 January2021 | 3,536 | - | |
| Revaluations | ( | 579 ) | - |
| Additions in theyear | 59 | - | |
| Market Value at 31 December 2021 | 3,016 | . | |
| Parent Charity: | |||
| £ | £ | ||
| MarketValue at 1 January2022 | 3,536 | 1 | |
| Revaluations Additions |
( | 579 ) 59 |
- - |
| Market Value at31 December2022 | 3,016 | 1 | |
| Shares in group undertakings represents an investment of100% ofthe share capital inGreat StMary's Trading Limited recognised at cost. | |||
| 10a Debtors: amounts falling due within one year | |||
| Parent Charityand its subsidiary undertakings: | 2022 | 2021 | |
| £ | £ | ||
| Income Taxrecoverable | 6,055 | 3,707 | |
| Accounts receivable | 12,643 | 8,779 | |
| VAT | - | 18,505 | |
| Other debtors | - | - | |
| Prepayments& accruedincome | 9,886 | 7,909 | |
| 28,584 | 38,900 | ||
| Parent Charity: | |||
| £ | £ | ||
| IncomeTaxrecoverable | 6,055 | 3,707 | |
| Accounts receivable | 1,997 | 3,119 | |
| Other debtors | - | - | |
| Prepayments& accrued income | 25,646 | 1,140 | |
| 33,698 | 7,966 | ||
| 10b Debtors: amounts falling due inmore than one year | |||
| Parent Charityand its subsidiary undertakings: | 2022 | 2021 | |
| £ | £ | ||
| Secured loans | - | - | |
| Parent Charity: | |||
| £ | £ | ||
| Securedloans | 29,348 | 38,622 |
This represents a loan to Great St Mary's Trading Limited, with interest rate of 1% over base rate, repayable on 31 December 2025 and secured on the fixed assets of the trading subsidiary.
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The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022
| 11 Creditors: amounts falling duewithin oneyear | ||
|---|---|---|
| Parent Charityand its subsidiary undertakings: | 2022 | 2021 |
| £ | £ | |
| Taxes and social security | 2,298 | 2,270 |
| VAT | 14,233 | 4,544 |
| Trade creditors | 408 | 8,300 |
| Sundry creditors and accruals | 85,411 | 87,172 |
| 102,350 | 102,286 | |
| Parent Charity: | ||
| £ | £ | |
| Taxes and social security | 2,298 | 2,270 |
| VAT | 7,113 | 4,544 |
| Sundrycreditors and accruals | 82,841 | 77,843 |
| 92,252 | 84,657 | |
| 12 Creditors: amounts falling due in morethan oneyear | ||
| Parent Charityand its subsidiary undertakings: | 2022 | 2021 |
| £ | £ | |
| Amounts fallingdue in 2-5 years | 75,000 | 91,667 |
| Amounts falling due inmorethan 5 years | - | - |
| 75,000 | 91,667 | |
| Parent Charity: | ||
| £ | £ | |
| Amounts falling due in2-5 years | 75,000 | 91,667 |
| Amounts falling due inmorethan 5 years | - | - |
| 75,000 | 91,667 |
This is made up of two loans:
An interest free loan of £50,000 due for payment in two instalments, the first £25,000 being due in December 2024 and the balancing £25,000 being due in December 2025,
A loan of £100,000 repayable in 12 equal instalments over 6 years. Interest accrued in each 6 month period is payable with that instalment. At 31/12/2022 £58,333 had been repaid (2021: £41,667).
13 Secured Debts
The following secured debts are included within creditors:
Parent Charity and its subsidiary undertakings:
----- Start of picture text -----
2022 2021
£ £
41,667 58,333
£ £
41,667 58,333
----- End of picture text -----
Bank loans Parent Charity:
Bank loans
The bank loan is secured by way of a legal charge over the 55 Hanover Court investment property. The loan is repayable over a period of 6 years and 6 months until December 2024. The interest rate on the loan is variable, with an initial rate of 2.90%.
:
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The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2022
14 Capital Commitments
Amounts contracted for but not provided in the financial statements amounted to £nil (2021: £nil).
15 Auditors Remuneration
Auditors remuneration is made up of the following:
----- Start of picture text -----
Parent Charity and its subsidiary undertakings: 2022 2021
£ £
Audit fee 6,350 5,500
Independent Examination fee - 187
——___ 6350 S687
Parent Charity:
£ £
Audit fee 5,600 5,000
Independent Examination fee oT
5,600 5,187
----- End of picture text -----
16 APB Ethical Standards - Provisions available for Smaller Entities
In common with many organisations of our size and nature we use our auditors to assist with the preparation of the Financial Statements.
:
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: : /
The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022
17 Fund Movements Parent Charity:
| Gains /(losses) | Gains /(losses) | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| on investment | Fund | |||||||||||
| Balanceb/f | Income | Expenditure | assets | transfers | Balance c/f | |||||||
| £ | £ | £ | £ | £ | £ | |||||||
| UnrestrictedFunds | ||||||||||||
| GeneralFund | 204,273 | 601,901 | 455,104 | ( | 579) | (52,667) | = 297,824 | |||||
| PropertyInvestment Gain Reserve | 781,966 | - | - | 62,500 | - | 844,466 | ||||||
| DesignatedFunds | ||||||||||||
| FabricFund | 30,000 | - | - | - | 50,000 | 80,000 | ||||||
| MichaelhouseFund | 20,995 | ( | 89) | - | - | ” | 20,906 | |||||
| MusicFund | 19,747 | 2,841 | - | - | ” | 22,588 | ||||||
| VisionFund | NOON | 00 | ||||||||||
| 1,066,992 | 604,653 | 455,104 | 61,921 | ( | 2,667 | ) | 1,275,795 | |||||
| RestrictedFunds | ||||||||||||
| ADFund | 6,362 | ~ | - | - | - | 6,362 | ||||||
| Angela and Richard WrightMemorialFund | 16,006 | - | - | - | - | 16,006 | ||||||
| Assistant OrganistFund | 46,589 | 15,000 | 12,542 | - | - | 49,047 | ||||||
| CameraFund | 14,000 | - | - | - | ( | 14,000) | - | |||||
| ChildrenandYouthFund | 60,000 | - | 13,744 | - | - | 46,256 | ||||||
| ChoirRobesFund | 16,250 | - | - | ” | ” | 16,250 | ||||||
| Church Schools Grant | - | 500 | 500 | - | - | - | ||||||
| Equipping ChristianLeadership Fund | 10,360 | 6,929 | 7,446 | - | - | 9,843 | ||||||
| FondillerFund | 1,414 | - | - | - | - | 1,414 | ||||||
| Friends ofGreat StMary's | 790 | - | - | - | - | 790 | ||||||
| HeritageLotteryFund | -WW1 | 98 | . | - | ” | “ | 98 | |||||
| RoofFund | (85,323 ) | 1,910 | - | - | 16,667 | ( | 66,746 ) | |||||
| Salary SupportFund | 50,716 | - | 13,356 | - | - | 37,360 | ||||||
| SansomBequest | 20,076 | - | - | - | ” | 20,076 | ||||||
| Wider Concerns | 4,125 | 20,016 | 20,082 | - | - | 4,059 | ||||||
| 161,463 | 44,355 | 67,670 | - | 2,667 | 140,815 | |||||||
| Total | 1,228,455 | 649,008 | 522,774 | 61,921 | - | 1,416,610 |
:
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- The PCC of the Ecclesiastical Parish of Cambridge St Mary the Great with St Michael NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022
----- Start of picture text -----
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|17|Fund|Movements|cont.|
|Designated Funds|
|Fabric|fund|represents|funds which the PCC has|set aside|for the|fabric|of|the|Church.|
|Michaelhouse|fund|represents|funds which|the PCC has|set aside|for to|support the|activities|in Michaelhouse.|
|Music|fund|represents|income|which the PCC has|set aside for the|provision|of music.|
|Vision|fund|represents|funds which the PCC|has|set aside|for projects|recommended by the|Vision|committee.|
|Restricted Funds|
|AD fund|represents|funds|received|for|general|purposes|at the|discretion|of the Vicar.|
|Angela and|Richard|Wright Memorial|represents|funds|donated|for the provision|of|music|in|the|Church.|
|Fund|
|Assistant|Organist Fund|represents|restricted|donations|specifically made|for the|salary of a second|organist.|
|Camera Fund|represented|funds|donated|for|the purchase|and|installation of live-streaming equipment.|
|Children and|Youth Fund|represents|funds|donated|to|cover the|cost of employing|a|Children's|and Young Persons|worker|
|over|three|years.|
|Choir Robes Fund|represents|restricted|donations|specifically made|for the|purchase|of choir robes.|
|Church Schools|Grant|represents|a|grant|from the Church|Schools|of Cambridge towards|Children's|Church|costs.|
|Equipping|Christian|Leadership|represents|a|grant|from Equipping|Christian|Leadership|in an Age of Science|to|help|
|support|staff salaries.|
|Fondiller|fund|represents|funds|set aside|for visiting preachers|expenses,|at the|discretion|of the Vicar.|
|Friends|of Great|St Mary's|represents|funds|donated|to the Friends|of Great|St Mary's.|
|Heritage Lottery|Fund|- WW1|represents|a grant|for the WW1|activity|day|and|exhibition|in 2018.|
|Roof Fund|represents|funds|received|for|the repair of the|South Aisle roof.|
|Salary|Support Fund|represents|funds|received to|support the|salary of a new administrator.|
|Sansom bequest|represents|funds|received|for|distribution to Wider Concerns,|at the discretion|of the PCC.|
|Wider Concerns|represents|funds|collected|to|pass on|to|other charities|supported by the|Church.|
----- End of picture text -----
Fund Transfers There was a transfer between the general fund and the roof fund which represents the amount paid off the mortgage in the year. There was a transfer between the general fund and the fabric fund which represents amounts designated by the PCC for the fabric of the church. There wa a transfer between the camera fund and the general fund representing the amounts of AV equipment costs purchased from the restricted donation.