HE OCESE BLCICIBURFI TrECHUKHOFI', , .L4NC4SHIRE ST CUTHBERT'S CHURCH Lytham Road, Fulwood, Preston ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL 2024 VISION2026 INTRODUCTION....................................................................................................................................... AIM AND PURPOSES OF THE PAROCHIAL CHURCH COUNCIL pcc ACHIEVEMENTS AND PERFORMANCE...................................................................................................... CHAIRMAN'S REPORT................................................................................................................................. KEY MINISTRY SUMMARIÉS............................................................................................................. CHURCH CENYRE REPORT............................................................................................................................ 11 STRUCTURE GOVERNANCE AND MANAGEMENT.................................... 12 PoiiciES CONSTITUTION OF PARQCHIAL CHURCH COUNCIL ADMINISTRATIVE INFORMATION............................................................................................................ SAFEGUARDING REPORT...................................................................................................... 12 12 13 13 FINANCIAL REVIEW.. .14 STATEMENT OF PAROCHIAL CHURCH CouNCliS' RESPONSIBILITIES........-...........................................................- .14 STATEMENT OF FINANCIAL AcTIVITIES...........................................-................................................................ 15 BALANCE SHEET.............................,. .17 NOTE I: BASIS OF PREPARATION .18 NOTE 2: ACCOUNTING POLICIES............................................. .18 NOTE 3: ANALYSIS OF INCOME- GENERAL FUND............................ .20 NOTE 4: ANALY515 OF EXPENDITURE . .21 NOTE 5: DETAILS OF CERTAIN ITEMS OF EXPÉNDITURE. .23 NOTE 6: PAID EMPLOYEES........................................................................................................................... 23 NOTE 7: DEFINED CONTRIBUTION PENSION SCHEME .24 NOTE 8: TANGIBLE FIXED AssErs............................................-. .24 NOTE 9: DEBTORS APID PREPAYMENT5........................................................................................................... 26 NOTE 10- CASH IN BANK AND IN HAND ..............................................-.......................................................... 26 NOTE 11: CREDITORS AND ACCRUALS. .27 NOTE 12- MOVEMENTS ON RESTRICTED AND DESIGNATED FUNDS................................,....................................... 27 NOTE 13: CONNECTED PARTY TRAN5ACTIONS.................................................................................................. 28 INDEPENDENT EXAMINER'S REPORT.............................................................................................................. 29 St Cuthbert's PCC Annu81 Report 2024 Page. 2 Introduction This is the Annual Report of the Parochial Church Council IPCCI of St. Cuthbert's Church, Fulwood, Preston, a registered charity. In this report we describe our mission and the aim and purposes of the PCC, our achievements and provide the financial reports for the church. The report is designed to be read by anyone who is interested in the work of the church as well as to fulfil our reporting obligations to the Charity Commission. Detailed reports fiom the individual ministries in the church and for 3sSOClated organisations can be found in an Annex to this report. The Parish Mission Statement Fired by the love of God, we seek the transformation of Fulwood, Preston and beyond. St Culhbert's PCC Annual Report 2024 Page. 3 Aim and purpose5 of the Parochial Church Council (PCC) As defined in the PCC Measures of 1956 as amended in 1969. the PCC of St Cuthbert'5 Church (the Parish Church of St Cuthbert, Fulwood. Prestonl ha5 the responsibility of co-operating with the Incumbent in promoting within the ecclesiastical parish the whole mission of the Church, pastoral, evangelical, social and ecumenical. The PCC is also specifically responsible for the maintenance of the Church Centre complex of St. Cuthbert's Church, Lytham Road, Fulwood, Preston. Objectives and Activities The PCC is committed to enablir)g as many people as possible to worship at our church and to become part of our parish community at St. Cuthbert's. The PCC maintains an overview of worship throughout the parish and makes suggestions on how our services can involve the individuals and many groups that live within it. Our services and worship put faith into practice through prayer and scripture, music and sacrament. When planning our activities for the year, the trustees have complied with the duty to have due regard to the Charity Commission's guidance on public benefit and, in particular, the supplementary guidance on charities for the advancement of religion. In particular, we try to enable ordinary people to live out their faith as part of our parish community through.. the advancement of religion for the public benefrt Weekly, public worship services in the Church Centre that are open to all who wish to attend with no requirement for any commitment to be made. financial or otherwise, in return. Regular attendees are encouraged to help support activities and each other by volunteeiing and providing financial support to charitable activities Public rituals and ceremoriies are provided. such as weddings, baptisms and funerals Worship and prayer meetings- learning about the Gospel- and developing peoples, knowledge and trust in Jesu5 Weekly education is provided for children and teenagers that contribute5 to their spiritual and moral education Provision of Children and Youth oriented church actNities and a Toddler Group Provision of pastoral care for people living in the parish, including for those who cannot attend the church premises. whether as a result of age, infirmity or ill-health. Support is also provided to attendees I members through prayèr. tonversation and friendship Small groups open to all who wish to attend regularly meet to study the bible and provide each other with friendship and other mutual support Development of activities and servi￿5 for the benefit of local people and as a vehicle to offer support and comfort to those in need Missionary and outreach work and supporting other charitie5 in the UK and over5ea5. The Trustees set policies and controls to maintain appropriate safeguarding standards are met Any activities where charges are required have the charges wawed where beneficiaries are unable to meet the cost To facilitate this work, we maintain the fabric of the Church of St Cuthbert and the Church Centre Complex. St Cuthbert's PCC Annual Report 2024 Page.. 4 Achievements and performance Chairman's Report Eph 3.20-21: 20 Now to him who 15 oble to do imme(Fsurubly more than all we usk or imogine, occordirjg to hi5 power that Is at work within us, 21 to him be glory in the church and in ChristJesUS throughout all generotions, for ever ond everlAmen. Introduction: As I look back to the summer of 2023, Sara and I were at New Wine conference seeking God for direction for the future as my curacy would come to an end the following year. I remember going forward for Prayer Ministry and God to spoke to us clearly saying two things through those ministering to U5. Firstly, that God had a place for us not just me but us as a family," secondly, that the words for the son8 the blessing would be significant for my future ministry- May His favour be upon you, And a thousand generations And your family and your children And their children and their children Meanin8 that God was calling me and us as a family to bless the generations. When, eventually, I saw the role at St. Cuthbert's, we were so excited by the opportunities and very aware of the challenges that might be ahead of us. Very soon it became clear that St. Cuthbert's would be that place where the favour of God would be upon u5 to bless the generations there which led to the song being used at my licensing. We arrived at a church that worked incredibly hard over the interregnum in preparation for our arrival and for everyone who has played their part serving on PCC, leading services, helping us with decorating the vicarage as well as your generosity and prayers we cannot thank you enough. Since, being appointed there have been lots of positives and considerable challenge5 too. Yet, l am completely committed to our vision as a church to be 'fired by the love of God,. Encouragements: It has been a joy to get to know both the 9am and 10.30am congregation5 - both hold a special place for me with wonderful, committed individuals who have supported and encouraged me during these months. I pray that over the coming months 3nd years to get to know you all a bit better as we establish ourselves here in Fulwood. Since, arriving there has been considerable movement with key leaders moving on to pasture5 new for a variety of reasons including our LLM janet Mortimer who has moved to Longridge. Our PTO, Revd Chris Jackson who, having reached a significant milestone, decided it was time to Stop taking service5. Erica Beaumont who has been exploring her vocation and was establishing herself as a leader and preacher has had to take a step back for personal rea50n5. We have also seen other significant friends move on including Tim and Helen Sture and Phil and Bev Calder who have blessed our church in a great many ways, and it was incredibly hard to see them go. On a more positive note, the staff team continue5 to flourish with Toni tontinuing to oversee the Church Centre ensuring that we are maximising our potential in the locality. helping the Community Hub Vision become a reality. We have now made Jacob a permanent member of staff a5 Youth and Children's Co- ordinator where he ha5 built great relatlon5hips between ourselves and local schools lincluding= Archbishop Temple, Queen's Drive and Fulwood and Cadleyl as well as overseeing both Sunday and midweek groups which have continued to flourish and grow. Furthermore, Rev Liz Gethin was licenced as Associate Minister Sl Culhbert's PCC Annual Report 2024 Page.. 5 in November with a particular focus on her workplace ministry as a Physio at the h05Pltal. Finally, Rev Martin McDonald, who is in his final year of Curacy. has continued to flourish and at the time of writing ha5 been covering at St. Anne'5 Woodplumpton where he is being an incredible blessing. In addition, it has wonderful to see new leaders and preacher5 gain confidence and flourish in their individual callings. In this new season we are committed to our values that the love of God is wide. long and deep: and that we are 'fired by the love God, and as a church we are seeking 'immeasurably more than we can ask or imaElne' for church and the wider community- This journey is birthed in being people of God's presence. who are open to the person and work of the Holy Spirit.. and for our church to be a significant place of prayer for Fulwood, Preston and beyond as we continue to pray and discern what it means to be a church of 'immeasurably more. which bring5 me to our UP. IN & OUT. up- there have been encouragin8 signs of us as church being more hungry for God's Holy Spirit to move among us in a fresh way, which has seen the introduction of the Worship Night5 on 4 Sunday evening of the month and Prayer Gatherings reintroduced on 2. Sunday of each month. Numbers for both of these have fluctuated with an interesting development of people frown other churches joining u5 for our Worship Ni8hts which has been a wonderful gift for us to bless the wider church. 2025 saw the start of our year of prayer with the Diocese to pray for 'growth and renewal,. This has had a mixed response both in engagement online and in-person opportunities, l am very thankful for all the prayer that is happening both seen and unseen. Yet. I believe that God is calling us to prioritise prayer to have a 'high expectancy. both individually and corporately if we warbt to see long and la5tinE change in our church and community. IN- since arriving I have been impressed with how much love there is for each other and the care that is shown especially for those who are unable to be with us in person. l am particularly thankful for the Care Team Ministry, our Lifegroup Leaders and all who support our children and young people for their constant commitment to support, pray and disciple people of all ages here. Our desire is to see every member committed to a Lifegroup or Young Persons group so that their faith can develop, flourish and connect with their friend5 and famiEy- In order for this to happen, we will need more leaders in all areas who are committed followers of Jesu5 who are spirtt filled arhd hungry to see growth and transformation in our church. OUT- the Community Hub is flourishing with many new people connecting through Renew. Talk English, Tuesday Hangouts, Toddlers and Community Lunch. Jacob and I have continued to build on links With Fulwood & Cadley Primary School. Queen's Orive Primary and Archbishop Temple CofE High School. with more opportunities to serve in other places through the 'No more knives tourf which ha5 led to door5 opening at Fulwood Academy and Our Ladws Catholic High School and the potential here is hijge. In addition, Alpha started in January and we had a couple of people sign up which has been great. We have the greatest news in the world in Jesus. so levs pray for confidence as we live out and share Jesus in our community. Challenges: Finally, St_ Cuthbert's is a wonderful. growing church that is seeking to live out its purpose and values every day. However, we are encountering significant challenges, particularly this year in the area of giving both our time and finance for us to be able to continue to bless this church and the community we love and serve. The need is great. but it is not impossible as God has provided in the past will provide again in the future. Any of us who has been a follower of Jesus for a while knows that there are a great number of challenges along the way. My prayer is that these challenges bring us to our knees in prayer that we might know that he is truly the God who can do 'immeasurably more than we ask, think or even imagine., Often the answers to these prayers come about in ways that we don't expect but God is faithful and calls us to be faithful too. As Paul says in 2 Cor 12..9 But you said to me, 'My grace is sufficient for you. my power is made perfect in weakness., St Cuthbert's PCC Annual Report 2024 Page. 6 As we continue on this journey together may each of u5 know God's goodness, faithfulness and grace during the good times and through the challenges. For it is a joy to have been your Vicar over the last year - thank you for your support. encouragement and prayers this year- il makes such difference. A final word of thanks must go to the Staff, the Wardens, Ministry leaders and everyone who gives time and financially cons1Stently as we truly live out what it means to be 'fired by the love of God. Venl, Sonrte Spiritus- Come, Holy Spirit st Cuthbert's PCC Annual Rew)rt 2024 Page.. 7 Key Ministry Summaries The PCC is grateful to the many members of the church family that contribute to the life and activities that make St. Cuthbert's community 50 vibrant. From the most visible roles to those that are carried on quietly in the batkground, we thank you for hearing God's call and responding. Many of these voluntary activities are carried out by Ministries that the PCC has established to help implement its objectives and responsibilities. This section contains a summary of the core aims of each Ministry and 3 brief report on their activities. More details and other team reports can be found in the Annex. Worshi and Disci leshi Core aims.. Ensure prayer 15 at the heart of everyihing we Nurture and develop Readers, Speaker5, Preachers and Service leaders. Grow and develop our corporate worship. Recruit and train worship teams. Develop Life Groups and their leadership. Promote learning opportunities for discipleship across the church family. The Worship and Discipleship Ministry team comprises clergy and occasional leaders and preachers supplemented by members of the YFC team. musicians and life group leaders. The 9am Sunday service offers a reflective. liturgical format and has seen a steady growth in numbers over the year. The service leadership has been enriched through the addition of more worship leaders and the introduction of new service leaders and speakers. The slightly larger 10..30am service offers the opportunity to worship in a more contemporary, charismatic environment and is developing its worship and providing opportunities for groups to engage in new ways in the worship life of the church. The Worship Group ha5 provided a strong lea(1 across the normal weekly services as well as at the key Easter and Christmas services. A monthly series of worship nights has been introduced to offer a rich blend of Sung worship, prayer and silence to enable worshippers to explore and develop their spiritual relationship with God. To encourage the growth in the prayer life of the church, the monthly Worship Nights have been supplemented by monthly Prayer Gatherings that have been led by Life Group leaders. The gatherings have introduced a rich variety of approaches to prayer and have been well-attended. In addition to 5UPPOrt these Eatherines, the Life Groups have continued to meet independently and together as they studied materials relating to the sermon series in church. Local Outreach Communit Hub Core aims.. Seek5 to oversee the outreach and engagement of the church with our local Community. In our local mission, we are seeking to embody the 5 Marks of Mission where we live: To proclaim the Good News of the Kingdom To teach, baptise and nurture new believers To respond to human need by loving service To transform unjust structures of society, to challenge violence of every kind and pursue peace and reconciliation To strive to safeguard the integrity of creation, and sustain and renew the life of the earth The Community Hub continues to thrive with many activities fallin8 under its umbrella. Five of the main activities are described in a little more detail below, but other occasional activities taking place include= Sl Culhbert's PCC Annual Report 2024 Page". 8 Men's breakfasts, Ladies Christmas Crafts, fitnes5 classes. etc. Each of the activities depends on the volunteers that support them and without whom they could not function. We are very grateful for their time and commitment. Toddler group- continues to attract a strong regular attendance of peop5e mainly from the local community. Special activities were held in the Summer and at Christmas with the latter attracting over 140 attendees. Talk English: the Talk English group continues to thrive, averaging over 30 attendees every week and peaking at a record of So in the Autumn. The students come from a wide range of countries acr05S the world and are supported by a dedicated team of volunteers who run cultural and educational events and outings to supplement the core activities of the group. In addition to the core English-learning activities, the volunteers also provide a wide range of support to the students to help them with their day-to-day needs. Renew Fulwood: continue5 to thrive with the number of regular visitors continuing to grow. The blend of activities. individual inter3Ction5 and prayerful support combined with light refreshments is valued by all who attend and provides a real contribution to their well-being. Community Lunch: the bi-monthly Community Lunch is attracting a growing number of diners from the local community who value the combination of good food. warmth and sUPPOrt provided by the volunteers. Schools: the work with local schools continues with our CYF co-ordinator regularly providing input to assemblies and lessons, running a weekly lunchtime Ignite group at a local secondary school, as well as organising events for the schools in the church buildings. Mission Partnershi Core aims: To financially and prayerfully support our mission partners in the UK and around the world, and to build strong links between them and the church. Leader.. Jenny Fullalove The Mission Partnership Ministry team has prayerfully led the support of our Mission Partners using the funds that we set aside each year for this purpose. Due to changes in circumstances. two of our Mission Partners fell away during 2024, with LifeNow deciding that they had fulfilled their purpose and Elam Ministries failing to communicate with us. The other four charities.. Mercy Ministries. CMS, Isaiah Trust and Mission India were all supported financially and prayerfully for the full year. Some of the remaining Mission Partners will have reached the end of the 3-year term this year and a new group will be identified for 5UPPOrt in 2025. Pastoral Care Core aims- Meet individual's needs Focus on the need for healing Leader= Lynne Wood The pastoral care team now consists of 4 member5. It is hoped to recruit some more members over the next year. However. it Is always noted that much pastoral care takes place naturally within the fellowship. This is a strength of our church community. Train and develop those called to pastoral care Follow up new church members The team assists in distributing Holy Communion to some of our church family who are unable to altend church. James, our vicar, has accompanied us on some visits, in order to meet these church members. Some of our team also a5515t with the Communion 5ervice5 at a local care home. Sl Culhbert's PCC Annual Report 2024 Page.. 9 Meals continue to be provided to church members as the need arises. Prayer is offered after each service, although the team providing this ministry needs more members. A prayer chain that engages a wide group of the church membership is in frequent use and 15 running well. We encourage all members of the fellowship to alert the team to any needs they become aware of, so that we can offer support. Children Youth and Families Core aims.. Nurture and develop children and young people Link, direct, and support all youth organisations acros5 the fellowship Parenting support Child protection and child friendly policie5 Leader= Jacob Harrison The Children, Youth and Family ICYFI Ministry, led by Jacob Harrison supported by a committed team of leaders and helpers, has continued to increase its impact on the lives of young people in the church and the local schools and community. The rich range of children and youth groups on a Sunday and during the week ITuesday Hangout ènd The Way) has seen our young people developing their relationship with God as their understanding of the faith develops. Highlights of the year included a Youth Residential weekend and, for the first time, Easter and Summer Holiday clubs which were very well-attended. We continued to develop our links with the local primary and Church of England secondary 5choo15. Jacob was invited on several occasions to do assemblie5 and lessons at the primary schools and to help with the running of the Christian Union and some lessons at the secondary school. Pro ert Core aims: Health & Safety, buildings and maintenance Ensure building5 are fit for purpose Advise PCC of issues relating to the fabric of the buildings Leader.. Phil Calder Ensure that accessibility meets legislation Quinquennial review Encourage membership of the Team to ensure future care of the Church Centre. The Property Ministry has continued to quietly and efficiently maintain and, where necessary. upgrade the buildings and facilities in the church centre. Major projects during the year were.. replacement of many of the lights in the church centre with more efficient LED lights that should reduce longer term electricity consumption and the replacement of the heating system in the Douglas Hall. A Net Zero Audit wa5 also carried out during the year that we expect to lead to further improvements in our energy usage. We have a number of planned maintenance activities that are either just starting or will happen in 2025 as we continue to maintain our estate in a safe and attractive state. Finance Core aims.. Support the Treasurerls) Promote financial learning and understanding across the fellowship St Cuthbert's PCC Annual Report 2024 Page." 10 Develop a medium-term firbancial slrategy Approve annual budgets for each Team Leader= Matt Southword The Finance Team. led by the Treasurer. draws on a number of individuals across the church to make sure that our finances are properly handled. The team also plays a key role in communicating the financial state of the church and encouraging additional giving and fundraising activities. Infrastructure Core aims= Effective communication with the fellowship Maintain and develop mechanism5 for effective communication within the buildings and remotely Events and public relations Liaise with other Teams. providing necessary 5UPPOrt Leader: Dave Gethin The Infrastructure team has continued to provide invaluable support for our service leaders and for other events. The technology we use enables our services to be run and streamed for those who can arid cannot be physically preset in the building. Some of that technolo8y is hi8hly complex and we are grateful for the skills of the team who help to make it as easy as possible to Use. Some new volunteers joined the team durin8 the year but, as always, more would be very welcome. Church Centre Report Leader.. Toni Lawson, Church Centre Administrator The Church Centre is a core asset of the church, providing both rental income and a valuable venue for many of our outreach activities. specifically the Communily Hub. A wide range of Ofganisations make use of the Community Hub, fallin8 into four broad categories-. St Cuthbert's Outreach groups, Community Interest Groups, Local Busine55 Groups and St. Cuthbert's Worship & Discipleship activities. We have a group of regular hirers and others that hire on an ad hoc basis. Summary In 2024 we generated an income of £53,054 from room bookings. Toni Lawson, Operations Manager St Cuthbert's PCC Annual Report 2024 Page.. 11 5tructureth governance and management The Parochial Church Council IPCCI is a coiporate body established by the Church of England,. it is a registered charity and operates under the Parochial Church Council Powers Measure. The method of appointment of PCC members 15 set out in the Church Representation Rules. At St Cuthbert'5 the membership consists of the Incumbent Ivicarl. other eligible clergy, the Wardens. Deanery and Diocesan Synod members and elected members who are on the electoral roll of the church. Everyone who worships at church is encouraged to register on the electoral roll and stand for membership of the PCC. The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent. New members receive training on how the PCC works. The PCC meets at least four times each year, with additional extraordinary meetings arranged when necessary. There is a standing commitlee comprising the Incumbent, Churchwardens. Trea5urerlsl and Secretary and co-opted members who meet from time to time to deal with matters arising between PCC meetings. The PCC is the body of trustees responsible for the accounts and activities of the St Cuthbert's Church Centre in compliance with the Charities Acts Given it5 wide responsibilities, the PCC has set up a number of Ministries to undertake various activities in the church, as described elsewhere in this report. Policies All of the PCC'S policies were reviewed in 2024 and the Finance Policies and Procedures were comprehensively revised to strengtherb governance. Constitution of Parochial Church Council The table below indicates those who were in post from 7 April 2024. (Figure in brackets denotes years to serve from 7 April 20231 Chairman Church Wardens The Reverend James Wallace Iwith effect from Janet Rogers111 21104120241 Martin Wootton11) Treasurer Secreta Matt Southword Ico-optedl Mike Hatwood111 Elected PCC Members Bev Calder111- resigned 11/1112024. Jeremy Calder121 Fiona Cookson111 Corinne Cragg121 Hilary Elkins121 Anne King121 Gwen Moorby131 Andy Ramsay12} Shanthi Ra5aratnam121 Alice Walker121 Ex OfFicio PCC Members The Reverend Liz Gethin The Reverend Martin McDonald Jacob Harrison ICYF Co-ordinator} Janet Mortimer ILicensed Lay Minister) resigned 1410712024 Deane S nodRe resentatives St Cuthbert's PCC Annual Report 2024 Page.. 12 David Blake111 Sidesmen and Sideswomen Wel¢omers Mostafa Akbari Pam Allen Eddie Cheung jennifer Cheung Esther Chilman Richard Chilman Fiona Cookson Corinne Cragg Eileen Critchley Jenny Fullalove Anne King Gwen Moorby Janet Murray Joan Thompson Christine Valentine Administrative Information St Cuthbert's Church cent￿ is situated at Lytham Road. Fulwood, Preston and is part of the Blackburn Diocese of the Church of England. The PCC is a registered charity number 1127997. The bank holding PCC accounts is the Royal Bank of Scotland The total population of the parish is approximately 26,5(M). The parish comprises the City of Preston Council wards of Moor Park, Tulketh, Cadley and Greyfriars. There are 154 members on the electoral roll, with the change from the previous year comprising 3 new members and 9 leavers. The usual Sunday attendance was 146 adults and 29 children. In 2024 there were 2 adult baptlSm5, 16 child baptisms, O marriages, 8 funerals in Church and 7 funerals at the crematorium. Safeguarding Report The PCC oversees safeguarding in the life of the church with the majority of the work being delegated to the safe8uarding officer supported by others to a5515t wilh record-keeping and administration. The PCC reviews its procedures annually and seeks to ensure that the processes and procedures that we follow offer everyone involved with church activitie5 the sUPPOrt and protection that they need. Towards the end of 2024 we started a project to strengthen our record-keeping and to document, for each role, the necessary levels of checking and training that are required for safeguarding. Everyone involved in relevant roles undergoes DBS checks and volunteers and officers follow relevant levels of the diocese's safeguarding training curriculum to enable them to identify and appropriately handle situations that might arise in the course of our activities. We have had no Serious safeguarding concerns with any concerns raised have been dealt with effectively and in a timely fashion, giving us confidence that the training and knowledge in place at St Cuthbert's is working. Safeguarding is everyone's responsibility and with your help it can be successful at St Cuthbert's. making it a safe place to be. Public Benefit The Trustees are aware of the Charity Commission Guidance on providing public benefit and have had due regard to this in exercising their duties during the year. This advice has been referred to when reviewing the aims of the church and planning future activities that are for the public benefst. Sl Culhbert's PCC Annual Report 2024 Page. 13 Financial Review Risk mana ement The PCC examines the major risks that the Church faces each financial year when preparing and updating its budget and artivities plan for the forthcoming year. The PCC has developed systems to monitor and control these rTrsks, both financial and non-financial to mitigate any impact they might have on the Church in the future. Goln After making appropriate enquires. the board of Trustees has a reasonable expectation that the PCC has adequate resources to continue to operational existerbce for the foreseeable future. For thi5 reason. it continues to adopt the going concern basis in preparing the financial statements. concern Reserves The Trustees have determined to aim for the General Fund to have a balance of no less than £20,000. At the end of 2024, the general fund hèd a balance of £17.790. This was only achieved by not paying £9,336 on our 2024 parish share. During 2024 St Cuthberts received 2 Food Grants totalling £6,3￿ allowing us to tontinue with the hospitality events and towards the end of 2024 we received a volunteering grant that was f 2,567 that will go towards some trainin8. Volunteers St Cuthbert's benefits from many hours of unpaid volunteer assistance. Given the diverse and unstructured nature of much of this work, no attempt has been made in these accounts to value the hours provided. Statement of Parochial Church Councils, Responsibilities The Parochial Church Council is responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. The Parochial Church Council is required to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable lawl. In preparing these financial statements, the Parochial Church Council should follow best practice and.. select suitable accounting policies and then apply them consistently. make judgments and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followèd. and prepare the financial statements on the going concern basis unless It is inappropriate to presume that the Church will continue in operation. The Parochial Church Council are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Church and enable them to ensure that the financial Statements comply with the applicable law, regulations, and Church of England regulatory requirements. They are also responsible for safeguarding the assets of the Church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The annual report was approved bythe PCC on...... J Wallace Chairman St Cuthbert's PCC Annual Report 2024 Page." 14 Statement of Financial Activities Unrestrirted Designated Restrirted funds funds funds Total 2024 Totol 2023 INCOME Voluntary receipts Planned giving Collections at services 91.585 12.111 8.D48 12,175 103,760 12,111 22,755 111,444 11,573 10,246 All other Eivingjvoluntary re￿Ipts Legacies Grant5 14.707 2.070 20,939 134.753 8.867 3.965 39.714 10,937 24.904 174.467 11,737 30,200 177,200 1,763 467 Gift aid recovered Activities for generating funds Investment income Church activities Hire of rooms and related income Total receipts 651 651 6,524 53.772 195.7CMI 6.524 53.772 235.414 7,045 51.445 237.920 39,714 EXPENDITURE Church activities Diocesan parish contribution Clergy and staff cost5 Church Centre expenses Douglas Hall expense5 Vicar's house Office and governance costs Music, Sound. Light & Projection Mission giving and donattons Resources and activities Fixed asset depreciation C05t of generating funds Total expenditure Exce551 Ideficitl of income v Èxpenditure for the yÈar Transfers between funds Fund balances as at 01 January 2024 Fund balances at 31 Detember 2024 79.980 40.865 40.257 15,710 4.406 4.991 1,567 5,569 7.387 79,980 63,445 40,257 15,710 4A06 7.197 1.567 5.569 27,191 2.871 78,962 5S.445 29.543 8.881 2.593 5,541 1,953 12.624 22,046 4.303 1,770 226,661 22.580 2.206 14.804 2,871 2(KJ,732 7,871 39,590 248,193 -5.032 -7.871 124 -12.779 11,259 300 -300 22.522 1,183.257 £17.790 £1.175J86 30.793 £30.617 1,236.572 1,223.793 £1,225,313 £1.236,572 General General Fund Assets Reserved for LightinE Asian Congregation Bike Fund New cafe and hub fund C&Y Co-ordinator (Resl Di5a5ters Emergency Committee Energy including renewables Food grant f￿nd Growing leader5 17.790 17.790 1.175.386 22,522 1.178.257 1,175,386 l.S31 1,531 1,034 3,071 2,418 11.939 446 7.832 1.215 810 1.681 3.295 1.681 3,295 11.262 2,891 810 11.262 2￿91 810 St Cuthbert's PCC Annual Report 2024 Page.. 15 New Wine Lancashire Talk English Volunteering Fund Kitchen fund Total fund5 537 1.491 1,955 2,567 4,625 30,617 1,955 2,567 4,625 1,223,793 17,790 1,175,386 1,236.572 Sl Cuthbert's PCC Annual Report 2024 Page. 16 Balance sheet As at 31 December 2024 2024 2023 Flxed assets Land and Buildings Fixtures, Fittings and Equipment 1,174,400 986 1,174,400 3,857 1,178,257 1,175,386 Current Assets Debtors and prepayments Total cash in hand and at bank 6,025 52,905 12,357 52,171 58,930 10,523 48,407 64,528 6,213 58,315 Creditors falling due in< I year Net current asset5 Total a55et5 le55 current Ilabllltles 1,223,793 1,236,572 Funds General fund 17,790 22,522 Fixed assets 1,175,386 1,178,257 5,000 1,183,257 Reserve for Ilghtlng Total designated funds 1,175,386 Asian Congregation Bike fund Cafe/Community Hub Child and youth Disasters Emergency Committee Energy fund Food grants Growing leader5 New Wine Lancashire 1,531 1,034 3,071 2,418 11,939 446 1,681 3,295 11,262 2,891 810 7,832 1,215 810 537 Talk English Activities Kitchen Fund Volunteering Fund Total restricted funds 1,955 4,625 2,567 30,617 1,491 30,793 Total funds 1,223,793 1,236,572 Sl Culhbert's PCC Annual Report 2024 Page.. 17 Notes to the accounts Note I: Basis of Preparation The PCC constitutes a public benefit entity within the meaning of FRS 102. The financial statement5 have been prepared under the Charitie5 Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual account5 of Pccs, and with the Regulations, "true and fair view" provisions. They have been prepared under FRS 102120161 as the applicable accounting standard5 and the October 2019 Second edition of the Chartties Statement of Recommended Practice. Accounting and Reporting by Charities ISORP IFRS 10211. Note 2: Accounting Policies 2.1 Funds Unrestrirted Funds These represent the remaining income funds of the PCC that are available for spending on the general purposes of the PCC, including amounts designated by the PCC for fixed asset5 for its own use or for spending on a future project, and which are therefore not included in its 'free resetves,. The only 'free' reserves held by the PCC relate to the General Fund itself. The PCC must match a variable income stream with expenditure commitments that are of a fixed nature. Consequently, the PCC considers that to allow the Church to be managed efficiently, and to provide an appropriate buffer to enable the continuation of planned activities and ongoing developments. it is appropriate to aim for a year-end minimum General Fund balance of £20,0(K>. At 31 December 2024 the General Fund balance was £17,790. Designated funds Designated Funds are unrestricted funds which can only be used for the particular purpose of the designation by the PCC, and are not available to be applied for the general purposes of the PCC. Restrirted funds These are income funds that must be spent on restricted purposes, and details of the funds held and restrictions provided are shown in the notes to the accounts. The PCC resolved to make transfer5 from restricted funds that had non-grant income to pay 20%12023, 25%) of that income to the General Fund as a contribution to the running costs of the buildings that they use for their activities. 2.2 Income Recognition of income Resources are included in the Statement of Financial Activities ISOFAI when.. the PCC becomes legally entitled to the benefit of use of the resources it is more like than not that the PCC will receive the resources,. and the monetary value can be measures with sufficient reliability. Offsetting There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102. For example, income from church events is stated before the deduction of any the expenses of putting on those events. Grants and donations Grants and donations are or)ly included in the SOFA when any preconditions preventing their use by the PCC have been met. For collections and planned givin& this is when the funds are received. Tax reclaims on donations St Cuthbert's PCC Annual Report 2024 Page. 18 Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered in a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation, unles5 the donor or the terms of the appeal have specified otherwise. Legacies Legacies are included in the SOFA when the receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient receipts in the estate and any conditions attached to the legacy are either within the control of the charity or have been met. Volunteer help The value of any voluntary help received is not included in the accounts but is described in the trustees, annual report. Rental income Rental income from room hire is recognised at the date the hire takes place. Cancellation fees are recognised when a hirerfs liability arises. Interest income This is included in the accounts when receipt 15 probable and the amount receivable can be measured reliablv. 2.3 Expenditure and liabilities Liability recognition Liabilities are recogni5ed where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources, and the amount of the obligation can be measured with reasonable certainty. Governance costs These include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. Deferred income No material item of deferred income has been included in the accounts. Creditors The charity has creditor5 which are measured at settlement amounts less any trade discounts. Provisions for liabilities A liability is measured on recognition at its historical c05t and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date. Basic financial instruments The charity accounts for basic f1nancial instruments on initial recognition as per paragraph 11.7 FRS 102 SORP. Subsequent measure 15 a5 per paragraphs 11.17 to 11.19 FRS 102 SORP. 2.4 As5et5 Consecrated property In so far as consecrated and benefice property of any kind is excluded from the statutory definition of 'charity' by Section 10121 lal and Icl of the Charities Att 2011, such assets are not capitalised in the financial statements. Movable church furnishings These are c3Pltalised at cost and depreciated over their useful economic life other than where insufficient cost information is available. In this case the item is not capitalised, but all items are included in the church's inventory in any case. St Cuthbert's PCC Annual Report 2024 Page." 19 Tangible fixed assets for use by the charity These are capitalised if they can be used for more than one year, and cost at least £1,000. They are valued at cost except for the Douglas Hall, for which full historic cost information is not available. The depreciation rates and methods are disclosed in note 8. Debtors Debtors lincluding trade debtors and loans receivablel are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. Note 3: Analysis of income- General Fund Planned Giving and Gift Aid In 2024 we had 70126 on Parish Giving Scheme & 44 standing order and onlinel,12023, 761 regular planned givers of which 4412023, 501 were eligible and chose to allow us to claim Gift Aid. We continue to ensure that we realise as much as possible of the potential benefit from Gift Aid, including the Gift Aid Small Donations Scheme IGASDSI. The GASDS cap is currently £8,000 in each tax year ending 5 April. and we had donation5 above £8,000 in 20241£8,000+ in 20231, allowing the maximum £2,000 to be claimed in addition to the normal Gift Aid provision. The following tables provide analysis of certain items of income shown in the SOFA.. 2024 2023 Planned Gift Aided giving Planned Not Gift Aided giving Planned 3rd Party Tax Efficient Giving Total planned giving, general fund 80,740 10,854 75,813 13,768 50 4,000 95,S94 89,631 We have continued to encourage donors to transfer from the various electronic means of giving promoted in 2020 Iwith related costsl to the Parish Giving Scheme, which we joined in 2021, membership of which is paid for by the Diocese. Payment5 are taken by direct debit from donor5. accounts at the start of the month, with the total quickly paid to us along, and the related Gift Aid following soon after. Thi5 brings significant benefits in terms of reduced administration time for the Gift Aid Secretary, accelerated receipt of the Gift Aid tax refund, and the absence of bank charges / collection commission to pay. Analysis of certain items of income shown in the SOFA Icontinuedl: 2024 2023 Bookstall Fund raisir)g events Activities for generating funds 168 60 228 2024 2023 Events income Toddler Group Income 1,844 2,077 2,202 2,204 St Culhbert's PCC Annual Report 2024 Page.. 20 Diocesan Fees Musician Fees PCC Fees Retired Clergy Fees Verger Fees Insurance Claim Church activities 1,175 340 920 4C¥) 558 2Q) 603 6,524 7,045 2024 2023 Church Centre Hire Douglas Hall Hire Incidental sales Underlying income Rechargeable expenses Hire of rooms and related income 39,111 37,408 13,943 11,963 718 304 53,772 49,675 1770 53,772 51,445 Room hire totalled £51.930 in 2019. At the end of 2024 room hire was £53,054. This is the first time since Covid19 that we have achieved pre pandemic income. Note 4: Analysis of expenditure The followin8 table5 provide analysis of certain expenses shown in the SOFA: Church Centre 2024 2023 Cleaning Utilities- gas, electricity and water Insurance Major Repairs Misc Running Expenses Repairs & Maintenance Church Centre Expenses 2.851 2,239 21.519 16,623 1,608 1.490 7,482 1.052 535 839 6,262 7,300 40,257 29,543 Sl Culhbervs PCC Annual Report 2024 Page.. 21 Analysi5 of certain items of expenditure shown in the SOFA Icontinuedl= Douglas H311 2024 2023 Cleaning Utilities-gas, electricity and water Insurance Major Repairs Repairs & Maintenance Douglas Hall Expenses 22 7,019 1.608 6,675 386 15,710 174 6,266 1,490 951 8,881 Vlcarage 2024 2023 Council Tax Misc Interregnum Costs, Gas, Elec Vicarage Maintenance Water Rates Vicar's house Expenses 3,458 740 1,865 144 133 451 2,593 204 4,406 2024 2023 Phone & Internet Printing, Stationery. Postage & Software Bank & Other Commission Charges Governance software Miscellaneous governance costs Independent examiner Office and governance costs 675 2.520 464 161 139 1,032 4,991 674 2,995 476 443 173 780 5,541 2024 2023 Music, Sound, Light & Projection 1.567 1.953 Sl Cuthbert's PCC Annual Report 2024 Page". 22 Analysis of Certain items of expenditure shown in the SOFA Icontinuedl-. 2024 2023 Church Mission Society Elam Life Now Mercy UK Mission India OM Belgium The Isaiah Trust Churches Together in Fulwood Mission giving and donations 1.541 769 41 1,691 1.691 -1,555 1.391 2.104 2.104 2,104 2,104 2,104 2.104 5.569 12,624 2024 2023 Events Expenditure Toddlers Resources Hospitality Other Resources Pastoral Resources Services Resources Evangelism Expenses Resources and activities 1.255 272 3,503 806 27 1.524 1,581 383 2,503 1,726 273 1.335 50 7,851 7,387 Note 5: Details of certain items of expenditure Independent examiner's fees 2024 2023 1,032 760 Note 6: Paid employees 6.1 Paid employees 2024 2023 Salaries and wages Social security costs- Nil as cOVe￿d by employment allowance Pension costs (defined contribution scheme) Other employee benefits- Nil Total staff costs 61,923 56,19) 1,249 1,072 63,172 57,262 No employees received employee benefit5 (excluding employer pension costs) of more than £60,000 pa. The employment costs of the Child, Youth and Families worker are allocated to the Child & Youth restricted fund. All other employment C05t5 are allocated to the General Fund. The above analysis does not include the employment costs of stipendiary clergy, who are paid by the Diocese. The parish share of £79.980 {2023, £78.9621 is determined by the Diocese each year as the St Cuthbert's PCC Annual Report 2024 Page. 23 contribution that the PCC makes towards the costs of Clergy stipends, housing, the Training of Curates, and Diocese expenses. In 2024 after discussions between the treasurer. vicar, church wardens and PCC a decision was made to withhold £9,336 from the Parish Share to enable the PCC to remain within its resetve policy. 6.2 Average head count in the year Number of employees 2024 2023 Number Number Three employees are part-time. Note 7: Defined contribution pension scheme Amount of contributions recognised in the SOFA as an expense 2024 2023 £1,249 £1,072 Pension contributions are paid by the charity to the Government-backed NEST pension scheme. Note 8: Tangible Fixed Assets 8.1 Land and Buildings- Douglas Hall FRS 102 states at paragraph 2.27 that an asset must be recognised in the accounts where." lal it is probable that any future economic benefit associated with the item will flow to or from the entity.. and Ibl where the item has a cost or value that can be measured reliably. Historical cost information is not available for the Douglas Hall either for the land or the building. The 2017 accounts included a valuation of £352,178 described as its 'estimated rebuild value" b35ed on the 2(X)5 insurance valuation and the cost of additions to 2009. The 2018 accounts were prepared on the Receipts and Payments basis and carried no value for èny fixed assets. There is no cost information available for the land. With the passage of time and inflationary effects in building costs, the valuation used in the 2017 and earlier accounts is no longer appropriate. The 2019 insurance renewal contains a cover value of £1.174,41K). The PCC doe5 not consider it appropriate to use charity funds to obtain a professional valuation of the Douglas Hall, either for the land alone or for the land with building in place. For the building, the trustees determined in early 2020 to adopt the value indicated by the 2019 insurance renewal documentation. No value 15 included for the land. 8.2 Depreciation The valuation for the Douglas Hall is not depreciated, as the trustees foresee it having a useful life greater than 50 years. The cost of Chairs and Mobile Screens purchased for the Centre is being depreciated straight line over 20 years15% pa of c05tl. Other fixtures, fittings and equipment are depreciated straight line over five year5120% pa of costl. Sl Cuthbert's PCC Annual Report 2024 Page. 24 8.3 Cost or valuation Freehold Land & Buildings Fixtures, Fittings & Equipment Total At the beginning of the year Additions 1,174,4 56,125 1,230,525 Disposals At the end of the year 1.174,400 56,125 1,230,525 8.4 Depreciation Freehold Lind & Buildings Fixtures. Frttings & Equipment Total At the beginning of the year Charge for the year Eliminated in respect of disposals 52.268 2,871 52.268 2,871 At the end of the year 55.139 55,139 8.5 Net Book Value Freehold Lind & Buildings Fixtures, Fittings & Equiprnent Total At the beginning of the year 1,174,4(K) 3,857 1.178.257 At the end of the year 1,174,4 986 1.175.386 St Culhbert's PCC Annual Report 2024 Page.. 25 Note 9: Debtors and Prepayments 9.1 Analysis of debtors 2024 2023 Trade debtors 2,704 2,713 608 2846 Accrued ir)come 2991 Prepayments Total 652U 6,025 12,357 9.2 Analysls of debtors recoverable in more than I year {included in debtors above) Debtors recoverable in more than l year were £0 at December 202412023 £1,175). Until December 2019, the Diocese of Blackburn permitted payments of Diocesan fees to be offset against Parish Share within each year. This was a concession that is not allowed by many other Dioceses. From 2020, it required that such fees are paid over quarterly, with credit being granted against the Parish Share that is due two years laler- eg, the £1.175 paid for 2023 will be offset against 2025 Parish Share. Note 10- Cash in bank and in hand 2024 2023 Payment Cards Cash at Bank 2.191 50,714 712 51,012 447 Cash in Hand Total 52,905 52,171 The church uses Equals (formerly trading as FairFXI to provide payment card5 to certain employees and the clergy, to reduce their need to finance PCC expenses from their own resources pending reimbursement. The balances held by Equals are a combination of funds allocated to individual cards and a holdin8 account for funding card top ups. There are two bank accounts, used for different purposes and with different access rights, both held with the Royal Bank of Scotland.. the Church Centre attount- thi5 receives payments for room hire and pays out the running costs of the thurth buildings. The Church Administrator and Treasurer have access to this account to raise payments and monitor receipts. Before payment5 can be made, they need to be approved by a designated Signer or the Gift Aid Secretary- and the PCC account- this receNes donations and pays salaries and payroll expenses. The main access rights are held by the Treasurer and Gift Aid Secretary. Before payments can be made, they need to be approved by a designated signer or the Gift Aid Secretary. Both accounts are used from time to time for certain non-confidential transactions, such as payment of the Parish Share to the Diocese. The Treasurer monitors the levels in the accounts to ensure funds are available in each as required to meet liabilities as they fall due St Cuthbert's PCC Annual ReFK)rt 2024 Page.. 26 Note 11: Creditors and Accruals 11.1 Analysis of creditors 2024 2023 Trade Creditors 6,973 3,550 Accruals and deferred income 6,213 Taxation and social security Total 10,523 6,213 Note 12: Movements on Restricted and Designated Funds Opening Balances C105ing Balance5 0110112024 Income Expenditure Transfers 3111212024 General Fund A55et5 1.178,257 12,8711 1,175,386 C&Y Co-ordinator (Re51 Talk English DEC and harvest appeals Asian ConBregation Energy including renewables jacob's Wedding Janet leaving New Wine Lancashire 11,939 1,491 446 16,141 572 124,7851 11081 14461 3,295 1,955 1,034 7,832 496 1,531 11,262 4,000 930 15701 19301 12201 15371 14901 220 537 Rev James Birthday Volunteering Fund Growing leaders New cafe and hub fund 490 2,567 2,567 810 810 2,418 1,215 3,071 3,373 6,300 14,1101 14,6231 12,7711 1,681 2,891 Food grant fund Bike fund Kitchen fund 13001 4.625 4,625 Provision for IiEhtinE expense 5,000 35,793 15,0001 144,5901 39.714 13001 30,617 Asian Congregation This 15 a fund set up in 2019 for an Asian Congregation that meets in the Church Centre on a monthly basis. It wa5 originally overseen by Rev Kamran Bhatti but is continuing since he left. Collections at their meetings cover the c05t of food provided. 20Yo of income was transferred to the General Fund as a contribution to building expenses. St Cuthbert's PCC Annual Report 2024 Page.. 27 Bike fund A grant was obtained in 2023 to fund the purchase of bicycles and training for the use of asylum speakers. The funds were used during 2024, This fund will now be closed. Cafe and community hub fund This fund was set up to facilitate the new the new café space. Expenses for the coffee machine and any income from the coffee machine comes from this fund. Child & Youth Co-ordinator The funds from this fund go towards the wages and expenses for Jacob and any costs in relation to carrying out activities. Whi15t thi5 fund is currently low and income is not enough cover outgoings, this will be topped up by the general fund. Energy The Energy fund was set up for future energy costs and l or a move towards adding technologv / equipment to support the move to Net Zero. Food grants Food grants have been received from local authority funds to provide meals and food parcels for local residents in need. Growing Leaders Funds obtained as grants were used to pay for running costs for this year-long leadership course. Funds left over have been retained for future courses. New Wine Lan¢ashire We hold funds for the Lancashire area New Wine leaders group and use them to pay for resources that that group uses. Talk English St Cuthbert's provides an accountancy Ljmbrella through a restricted fund for a group that is financed by grants from local benefactors for asslsting asylum seekers and refugees to learn English. 20% of income was transferred to the General Fund as a contribution to building expenses. Various welcome and leaving gifts Restricted funds are set up to collect donations towards gifts, which are then paid out to the beneficiaries. Note 13: Connected Party Transactions There were no connected party transactions other than a5 described below. Personal expense payments have been made by the PCC to Trustees for the following expenses.. Mileage and travel, Rev James Wallace £169.20. In 2023 our previous incumbent Rev Mark Bradford claimed Mileage and Travel expense5 of £584.99 and was paid a contribution to mobile telephone and broadband expenses totalling £282.80. No trustees have received any employment benefits for their services as trustees. St Cuthbert's PCC Annual Report 2024 Page: 28 INDEPENDENT EMMINER'S REP()RT TO THE TIIUSI'EES OF ST CUTHBERT'S CHURCH, IJRLS'I'ON FOR THE YEAR F,NDED 31 ST DECEMBER 2024 Independent examiner's report to the Trustees of St Cuthbert's Church, Presto I report to the Trustecs on tlly cxainination of ihe accounts of St Cuthbert's Church, Pr¢ston for tlie y¢ai' ended 31 ' Deceiiiber 2024, wl)icli al'e set out Oll Plig¥b 15 10 28. Respon$ihililies and basis of report As rhe cliarity Trustees ot tlic TrLlSt. yoii arc rLspon4ible for the preparation of the accouiits iii accordailcc Wlth the requireinents ot'the Charities Act 2011 ('the Act,). I report in respect of my examinaiion of the Trustee's ac¢ounts carried out under s¢¢lioii 145 of the 2011 Act und in ¢&rryJji)gi oiit iiiy cxaiiiinatioii I have lolloived all the applicable Dircctioi)s given by the Charity Coiiiiiiissioii under s¢¢tioii 145{5)(b) of tlic ?0 I l Act. Indepen(lent exuminer's statement Siiice ilie gyro%s incoi))e fi)I' tlie year exceeds tlie aiiiount provided in section 14513) ol. tlic Act. I coi)tiriii tliat I ,iiii qualiliLd to act as IiiclLpLiidLI)t Exaiiiiiicr uiidLr lh¢ provisions of iliat sLctiui) ol. IliL Aci iiiid tl)at niy qualiliLalii)i) 1% 41)i)wn bel()Iv. I liave coiiiplctcd Iiiy eAaininaliDn. l ¢oi)fii'iii tliat no matcrial m￿ltterS have come to my aitei)tioii in ¢onne¢lion I l ) dLCI)LllItIll¥T r¢L()rd4 wLr¥ ii()I kLI)l in r¥spcil ()r Ihl Tru.ql as required by seeii()1) 130 uf the Act. or (3) Ilie ac¢()Linls do ii()l i()iiii)ly Kviil) th¢ api?licabl¢ requir¢in¢nls con¢ei'nii)¥ the foi'iii aiid conlenl ol. ac¢i)Iiiils sel ()iit iii tlic CIIiL I'ItiL% IAccoiiiit.s aiid Repnrtsl IILg)Iilatiniis 200S nili¢r Iliiiii ¢1115, 1'LqiiifLillLnl Iliai ihe acLoiintS gTive a 'triie