Annual Report and Accounts for the year ended 31st December 2023
| Index | |
|---|---|
| Annual Report | 2–8 |
| Statement of the PCC’s responsibilities | 9 |
| Statement of Financial Activities | 10 |
| Statement of Financial Position | 11 |
| Notes to the Accounts | 12–19 |
| Independent Examiner's Report | 20 |
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Annual Report and Accounts for the year ended 31st December 2023
Administrative Information
St. Leonard’s Church is part of the Diocese of Exeter within the Church of England. The correspondence address is St. Leonard's Church, Topsham Road, Exeter, EX2 4NG. The Parochial Church Council (PCC) is a Registered Charity. Its registered number is 1128060. Its trustees are the members of the PCC.
PCC members who served from 1 January 2023 to the Annual Meeting 2023 (26 April 2023):
Clergy Simon Austen Chris Keane Paul Sutton
Churchwardens
Alfredda Lake Tom Richards – Deanery Synod (2020 2023) Matthew Bate Scott Bradridge Ruth Clarke Rachel Killick John Woolnough
Elected PCC Members (2020–2023) David Lotinga Adrian Midmer Alan Savage (2021–2024) Sharon Gardner Martina Juma Jan Porteous Maureen Venning (to 14 January 2023) (2022–2025) Shell Alsop Jane Halse
Ex-officio Francis Sansbury (Diocesan Synod) Tim Hamilton (General Synod)
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Annual Report and Accounts for the year ended 31st December 2023
PCC members who served from the Annual Meeting 2023 to 31 December 2023:
Clergy Simon Austen Chris Keane Paul Sutton
Churchwardens Alfredda Lake Tom Richards – Deanery Synod (2023 2026) Matthew Bate Martin King Vacancy Vacancy Elected PCC Members (2021–2024) Scott Bradridge Sharon Gardner Martina Juma Jan Porteous (2022–2025) Shell Alsop Jane Halse (2023–2026) Josh Manning Adrian Midmer [Treasurer] Alan Savage [Chair, Mission Sub-committee] Ruth Steele
Ex-officio Francis Sansbury (Diocesan Synod) Tim Hamilton (General Synod)
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Annual Report and Accounts for the year ended 31st December 2023
Structure, Governance and Management
The method of appointment of PCC members is set out in the Church Representation Rules. All church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC.
The Standing Committee consists of the Rector, Churchwardens, Treasurer and one elected member of the PCC. This is the only committee required by law and has the power to transact business of the PCC between its meetings, subject to any direction of the Council. It meets every other month or as required. Other sub-committees also report to the PCC: Missions, Buildings, Finance and Safeguarding. There is also a Human Resources (HR) group which meets, as required, to ensure compliance with employment issues.
The PCC has complied with the duty under Section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have regard to House of Bishops ’ guidance on safeguarding children and vulnerable adults).
Objectives and Activities
Parochial Church Councils (Powers) Measure 1956
General functions of council:
-
It shall be the duty of the minister and the parochial church council to consult together on matters of general concern and importance to the parish.
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The functions of parochial church councils shall include —
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a) co-operation with the Rector in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical;
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b) the consideration and discussions of matters concerning the Church of England or any other matters of religious or public interest, but not the declaration of the doctrine of the Church on any question;
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c) making known and putting into effect any provision made by the diocesan synod or the deanery synod, but without prejudice to the powers of the council on any particular matter;
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d) giving advice to the diocesan synod and the deanery synod on any matter referred to the council;
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e) raising such matters as the council consider appropriate with the diocesan synod or deanery synod
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f) appointing sidesmen (who are also known as assistants to the churchwardens).
The powers conferred on the Council include the power to acquire, manage and administer property for church purposes and the power to frame an annual budget to finance the mission of the church. The Council is also given power, jointly with the Rector, to appoint and dismiss staff members and to determine their salaries and conditions of service.
The mission of St Leonard’s is to be obedient to the Lord Jesus’s command recorded in Matthew Chapter 28 verses 16 to 20, by seeking to make Jesus known and equipping people to grow in
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Annual Report and Accounts for the year ended 31st December 2023
maturity as disciples of Christ.
The Church of England’s objectives are:
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to enhance the Churc h’ s mission;
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to sustain and advance the Church ’ s work in education, lifelong learning and discipleship;
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to enable the Church to select, train and resource the right people, both ordained and lay, to carry out public ministry and to encourage lay people in their vocation to the world; and
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to encourage the maintenance and development of the inherited fabric of church buildings for worship and service to the community
The PCC ensures that the church’s life within the parish helps to fulfil those objectives, both locally and more widely through the support of mission partners.
The PCC is aware of the Charity Commission’s guidance on public benefit in “The Advancement of Religion for the Public Benefit” and has regard to it in its administration of the Parish. The PCC believes that, by fulfilling its responsibility to work together with the Rector and co-operate in all matters of concern and importance for the promotion of the whole mission of the Church, pastoral, evangelistic and social, it provides a benefit to the public by:
-
providing resources and facilities for public worship, pastoral care and spiritual, moral and intellectual development, both for its members and for anyone who wishes to benefit from what the church offers;
-
promoting Christian values, and service by members of the church to the community, to the benefit of individuals and society as a whole.
The PCC is committed to enabling as many people as possible to worship at St. Leonard’s Church on Sundays and to take part in midweek activities, Bible studies and prayer meetings. A ‘weekly update’ is circulated each week to all people who are registered on our database. In addition, the Rector contributes a regular column in the bi- monthly St. Leonard’s Neighbourhood Association News and a comprehensive website is regularly updated.
Church Attendance
The number on the Electoral Roll on 31st December 2023 was 294 (2022: 277). The average normal Sunday attendance (not including children under 16) was estimated to be 303 (2022: 274). (Note, the normal Sunday attendance figure each year is an average of adults attending church services in the building on Sundays in October.) The average Sunday attendance of babies, children and young people (under 18s) was 44 in October 2023. Estimated number in our ‘ worshiping community ’ , what we would call our church family: 621, of whom 92 are under 18. Number of adults in a small bible study or fellowship group: 248. Number of students: 77. Number (of devices) live streaming the service during the actual service times: averaged 37 for the morning service and 17 for the evening service each week.
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Annual Report and Accounts for the year ended 31st December 2023
Review of the Year
The PCC met for the regular six meetings during the year, with two additional meetings (January and September), to discuss ministry matters and generally to transact the business of the Parish. The Standing Committee and sub-committees for Buildings, Finance and Mission Support met regularly, as and when required, presenting reports for discussion by the PCC to enable it to make informed decisions.
The PCC discussed: Staffing and HR including possible appointments of administrative roles and a Youth Minister, the Archdeacon’s Visitation, the Rector’s sabbatical, the Church of England Evangelical Council (CEEC) ‘Culture’ themes, Role Descriptions (in line with the new ‘Safer Recruitment and People Management’ requirements), outreach to the new St Leonard’s Quarter development, the ‘Maidstone Commitments’, our approach to Creation Care, and the situation in the Ch urch of England following the bishops’ proposed Prayers of Love and Faith. In addition to these various items, each meeting reviewed standing items relating to subcommittees and health and safety requirements.
All aspects of the church’s ministry seek to fulfil the great commission of the Lord Jesus Christ; that is, to make disciples. The conviction of the church is that God will work by His Spirit to achieve His purposes. Our responsibility, as empowered by that Spirit, is to set forth the truth plainly and clearly and to pray. To that end our authority in all matters of faith and conduct is the Bible.
The Sunday gatherings are our main focus, at which there is systematic teaching of the Bible. Decisions as to what to preach are made by the Rector and staff team, based on a number of criteria:
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i. The preaching history (stretching back to 1999), noting what has and has not been covered.
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ii. A balance across the year of Old Testament, New Testament Gospel and Epistle and Doctrine.
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iii. An awareness of the questions and concerns which are raised during regular pastoral ministry.
During 2023 the following books/topics have been studied:
Psalms (selection) 1 Corinthians 5 – 11 and 12 – 14 Judges 24 Luke 15 – 19 1 Samuel 1 – 7 James Daniel A short series of three on ‘ What is the G ospel?’ Genesis 1 – 3 Joshua 13 – 24
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Annual Report and Accounts for the year ended 31st December 2023
In addition, certain Sundays and particular times of the year have been dedicated to one-off sermons, such as at Mission Sunday and other Sundays with mission speakers, a church day away ‘at home’, Easter, Christmas and Remembrance.
It has been the Rector’s pattern, in agreement with the staff team, to link the morning and evening series with the Home Groups and women’s and men’s Bible studies so that no -one studies more than two books of the Bible at one time, but to maximise opportunities to study a book as thoroughly as possible. This also links with the work among young people. A Lent course was also organised centrally for Home Groups and others.
In addition to the regular Sunday gatherings, a church prayer meeting was held every other week, with two possible times available for people to attend, and on-going and extensive ministry across a wide age- range, including outreach and ‘nurture’ took plac e. Christian basics courses were run during the year and various training events and weekends away were arranged. The International Café continues to thrive, as does the PGP training course. As ever, the Holiday Club and children’s activities were a great success.
The PCC remains committed to exploring the possibility of further staff, particularly for work with — young people and the extensive ministry among and to women and recognises the need for additional administrative support. It also recognises the challenges that lie ahead in looking for a new Rector and in engaging wisely with the wider Diocese and Church of England. At several points during the year the congregation were given an opportunity to hear about the decisions of the Church of England in the light of the ‘Living in Love and F aith’ process and the implications of these decisions for future ministry.
Financial Review
St. Leonard's total income was £440,566 (2022: £504,382) and expenditure £417,139 (2022: £464,907). This resulted in an overall surplus of £23,427 (2022: surplus of £39,475) . There was a recovery in the financial markets during the year, with the value of the investment assets increasing by £22,324 so the overall movement of funds was positive by £45,751.
During the year, grants totalling £82,650 (2022: £96,050) were received from the Larkbeare Christian Trust (LCT). Its use is restricted to supporting non-stipendiary staff and the Ministry Assistant programme and is not therefore available for general expenditure. During the year, LCT grants helped to fund the costs of the PCC employing the Children’s and Families’ Minister, Ministry Assistants and the Church Office team.
The PCC had forecast a potentially substantial deficit budget (of some £169k) for 2023 but, once again, we did not incur the level of planned expenditure on staff (down c£57k) and our buildings (down c£78k). Regarding the latter, whilst tenders had been sought, firms did not appear interested in quoting for the number of small jobs, so we were unable to undertake the works. We saw a substantial reduction in our giving in March/April following General Synod’s indication , in February, that they would look to support the House of Bishops desire to use the Prayers of
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Annual Report and Accounts for the year ended 31st December 2023
Love and Faith (PLF) and following the decision of General Synod to support the PLF in November, the PCC did not feel they could pay ‘above cost’ to the Diocese for our two clergy positions. We continue to be very thankful for the continued generous giving seen by the church membership, together with income from other activities. The effect of the above matters saw a modest surplus with the planned building expenditure to be carried forward to 2024.
The careful financial management over the last few years has resulted in increased reserves, with some £75,000 currently designated towards the outstanding buildings spend. With continued uncertainty regarding the direction of travel regarding PLF and any appropriate accommodation for orthodox evangelical churches, the level of income and certain expenditure lines remain unknown. The PCC are currently forecasting a significant deficit for 2024.
Reserves Policy
The Reserves Policy is to hold cash or similar liquid assets equivalent to a minimum of 3 months of normal expenditure, which recognises the PCC's desire to have a Reserves Policy that is both appropriate to the financial risks and circumstances of St Leonard's and in accordance with best practice for charities. Following the adjustments to Funds in 2020 and ongoing careful management by the PCC, the Reserves Policy is being maintained.
We also hold a Provision for Liability in respect of the churchyard/boundary wall (see Note 11).
Risk Assessment
The PCC, Finance Committee and staff consider the risks pertaining to the church and its activities and monitor these. The most significant risks relate to our buildings and to the people, including staff, who use and attend them. The policies with Ecclesiastical Insurance Group provide adequate insurance cover for all the buildings for which the PCC is responsible and for other matters such as employer’s and public liability. Policies on Health and S afety and Safeguarding are kept under regular review by the PCC.
Plans for Future Periods
Looking ahead, the PCC anticipates further discussion about expansion of ministry with regards to staffing, finance including the diocesan parish share, buildings and the issues which face the Church of England in coming months and years. Our concern is always to do that which will most help people to come to faith and grow in faith. Through prayer and the ministry of the word we trust God’s work through Jesus, by His Spirit, all done for His glory.
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Annual Report and Accounts for the year ended 31st December 2023
Statement of the PCC’s Responsibilities
The PCC is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Charity law requires the PCC to prepare financial statements for each financial year. Under that law the PCC has elected to prepare financial statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the charity and of its surplus or deficit for that period. In preparing these financial statements the PCC is required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The PCC is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable it to ensure that that these financial statements comply with the Charities Act 2011. It is also responsible for safeguarding the charity's assets and taking reasonable steps for the prevention and protection of fraud and other irregularities.
PCC Vice Chair 17 April 2024
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Annual Report and Accounts for the year ended 31st December 2023
| Statement of Financial Activities (SOFA) Unrestricted funds £ Incoming resources Incoming resources from generated funds -Voluntary income 2 267,568 -Activities for generating funds -Investment income 4 3 6,501 56,280 Incoming resources from charitable activities 4 17,951 Other incoming resources 5 - Total incoming resources 348,300 Resources used Charitable activities 6 334,138 Governance costs Other resources used - - Total resources used 334,138 |
Statement of Financial Activities (SOFA) Unrestricted funds £ Incoming resources Incoming resources from generated funds -Voluntary income 2 267,568 -Activities for generating funds -Investment income 4 3 6,501 56,280 Incoming resources from charitable activities 4 17,951 Other incoming resources 5 - Total incoming resources 348,300 Resources used Charitable activities 6 334,138 Governance costs Other resources used - - Total resources used 334,138 |
Restricted funds £ 351 - 9,265 - 82,650 92,266 83,001 - - 83,001 |
Endowment funds £ - - - - - - - - - - |
Total funds £ 267,919 6,501 65,545 17,951 82,650 440,566 417,139 - - 417,139 |
Prior year funds £ 332,422 5,963 52,665 16,582 96,750 |
|---|---|---|---|---|---|
| 504,382 464,907 - - |
|||||
| 464,907 | |||||
| Net income / (expenditure) | 14,162 | 9,265 | - | 23,427 | 39,475 |
| Transfers Gross transfers between funds–in Gross transfers between funds - out |
9,265 - |
- (9,265) |
- - |
- - |
- - |
| Net income / (expenditure) Other recognised gains/losses Gains/losses on investment assets Gains on revaluation, fixed assets, charity’s own use Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
23,427 - - 23,427 242,580 266,007 |
- - - - 5,368 5,368 |
- 22,324 - 22,324 1,379,161 1,401,485 |
23,427 22,324 - 45,751 1,627,109 1,672,860 |
39,475 (34,827) - |
| 4,648 1,622,461 1,627,109 |
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Annual Report and Accounts for the year ended 31st December 2023
Balance Sheet
| 2023 | 2023 | 2022 | 2022 | ||||
|---|---|---|---|---|---|---|---|
| Note | £ | £ | |||||
| Fixed Assets | |||||||
| Tangible assets | 7 | 1,109,208 | 1,119,051 | ||||
| Investments | 8 | 306,485 | 284,161 | ||||
| 1,415,693 | 1,403,212 | ||||||
| Current assets | |||||||
| Stocks & works inprogress | - | - | |||||
| Debtors | 9 | 4,368 | 8,403 | ||||
| Cash at bank and in hand | 298,236 | 257,934 | |||||
| 302,604 | 266,337 | ||||||
| Creditors: amounts falling due within 1year | 10 | (8,437) | (5,440) | ||||
| Net current assets | 294,167 | 260,897 | |||||
| Total assets less current liabilities | 1,709,860 | 1,664,109 | |||||
| Provisions for liabilities | 11 | (37,000) | (37,000) | ||||
| Net assets | 1,672,860 | 1,627,109 | |||||
| **Represented by: ** | |||||||
| Unrestricted funds - General | 191,007 | 242,580 | |||||
| Unrestricted funds - Designated | 75,000 | - | |||||
| Restricted funds | 5,368 | 5,368 | |||||
| Capital funds | 1,401,485 | 1,379,161 | |||||
| Funds of the church | 1,672,860 | 1,627,109 | |||||
The notes on pages 12 to 19 form part of these accounts
Approved by the Parochial Church Council and signed on its behalf on 17 April 2024 by:
PCC Vice Chairman
Adrian Midmer (Treasurer)
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Annual Report and Accounts for the year ended 31st December 2023
Notes to the accounts
1 Accounting Policies
a) Basis of accounting
These Accounts have been prepared under the Church Accounting Regulations 2006 in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in – the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The accounts are prepared under the historical cost convention except for the valuation of investment and property assets, which are shown at market value.
The PCC meets the definition of a public benefit entity under FRS 102.
The trustees consider that there are no material uncertainties about the ability to continue as a going concern.
b) Statement of Compliance
– The financial statements have been prepared in accordance with FRS 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland. There are no material departures from FRS 102.
c)
Funds
The General Fund represents 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 use by the PCC are also unrestricted. The accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body or those that are informal gatherings of church members.
The Thomas Ministry Fund receives income restricted ‘for the support of the ministry within St Leonard’s’. This is transferred to the St Leonard's General Fund for the support of clergy expenses, the salary and expenses of non-clergy employed staff and expenses paid to visiting preachers. The amount necessary to meet these expenses is transferred each year.
The Larkbeare Christian Trust is a restricted fund, which makes grants to the PCC in order to help fund the Ministry Assistant training programme and the costs of other non-stipendiary staff. During the year grants amounting to £82,650 were received for this purpose.
The Property Fund and the Investment Fund are capital funds consisting of the properties and endowment funds described in notes 2 and 3.
d) Incoming Resources
d i) Voluntary Income and Capital Sources
Donations are recognised when received by or on behalf of the PCC. Income tax recoverable on Gift Aid donations is recognised when the associated donation is recognised.
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Annual Report and Accounts for the year ended 31st December 2023
Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain. Funds raised by fundraising events are accounted for gross. Bookstall sales are accounted for gross.
d ii) Other Income
Rental income from the letting of church premises is recognised when the rental is due.
d iii) Income from Investments
Dividends are accounted for when due and payable and interest entitlements as they accrue.
d iv) Gains and Losses on Investments
Realised gains or losses are recognised when investments are sold. Unrealised gains and losses are accounted for on revaluation of investments at 31 December.
e) Resources Used
Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC. The Common Fund contribution is accounted for when paid.
f) Fixed Assets
f i) Other Fixtures, Fittings, Office Equipment and Telephone System
Equipment used within the church premises is depreciated on a straight-line basis over 4 years, except for the Church Centre heating boilers, which were replaced in 2016 and are depreciated over 10 years. Equipment with a purchase price of £1,000 or less is written off when acquired.
f ii) Property
Staff houses are shown at market value, assessed as at 31[st] December 2018. Formal valuations are normally obtained every five years, but are updated in the event of abnormal fluctuations in the property market or other material changes in circumstances. No value has been included for the cultivated part of the churchyard adjacent to Larkbeare Road.
g) Investments
Investments are stated at market value at the balance sheet date. The SOFA includes the net gains and losses arising on revaluations and disposals throughout the year.
h) Current Assets
Amounts due at the year-end in respect of fees, rents or other income are shown as debtors.
i) Financial Instruments
The PCC only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. The PCC currently holds debtors and creditors.
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Annual Report and Accounts for the year ended 31st December 2023
| 2023 Unrestricted Restricted Funds Funds £ £ 2 Voluntary income Planned giving: Gift Aided donations 127,912 - Tax recoverable thereon 32,239 - Charity vouchers 48,979 - Other planned giving 43,340 - Collections 10,478 - Gift Aid on Small Donations 2,524 - Planned and regular giving 265,472 - Non-recurring donations: Gift Aided donations 50 265 Tax reclaimed 13 66 Other donations 2,033 20 Legacies - - Total voluntary income 267,568 351 3 Investment & rental income 63 Cedars Rd. & other rents 50,146 - Interest from bank accounts 5,789 - Thomas Trust income - 9,265 Other Trust income 345 - 56,280 9,265 |
Total Funds £ 127,912 32,239 48,979 43,340 10,478 2,524 265,472 315 79 2,053 - 267,919 50,146 5,789 9,265 345 65,545 |
2022 Total Funds £ 163,200 40,800 66,399 42,978 6,210 1,552 |
|
|---|---|---|---|
| 321,139 1,660 425 8,241 957 |
|||
| 332,422 42,260 901 9,160 344 |
|||
| _52,_665 |
The endowment funds are held in UK common investment funds (CBF Investment Fund and M&G Charifund) with the Diocesan Board of Finance as custodian trustee and are detailed in Note 8. The Thomas bequest produces the Thomas Fund income. Other investments earn income for the General Fund. One house was let on an Assured Shorthold Tenancy while not required by the church as staff or ministry assistant accommodation.
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Annual Report and Accounts for the year ended 31st December 2023
4 Income from church activities
| Junior Jivers Income Children/Youth Income Lens Income Student Income Special Event Income Church Weekend Away Book Sales Wedding & Funeral Fees Sundry income Subtotal Centre Bookings & churchyard income 5 Other incoming resources Grants from Larkbeare Christian Trust (Restricted Funds) Insurance claims (Unrestricted Funds) 6 Cost of church activities Common fund contribution Staff Costs (see also note 6a) Buildings & Other Property Maintenance Houses–insurance & utilities Donations to Mission Partners & Agencies Church & Centre utilities Church & Centre insurance & running costs Photocopying & printing Telephone, website & IT support General expenses Ministry Church Weekend Away Special Events Bookstall, Other Books & Bibles Copyright fees Depreciation Wedding & Funeral expenses Sundry expenses Legal and professional fees Specific items expenditure |
2023 £ 525 267 1,132 1,779 8,557 - - 2,515 3,176 17,951 6,501 24,452 2023 £ 82,650 - 82,650 2023 £ 149,974 129,033 10,862 3,790 59,179 13,807 15,007 612 2,127 1,827 6,004 - 10,110 1,092 1,744 9,843 231 877 720 300 |
2022 £ 220 - 1,712 3,125 7,805 473 147 2,000 1,100 |
|
|---|---|---|---|
| 16,582 5,963 |
|||
| 22,545 2022 £ 96,050 700 |
|||
| 96,750 2022 £ 190,894 138,071 12,469 5,090 56,745 7,628 15,196 590 2,077 1,494 5,746 281 9,456 1,184 1,619 11,598 - 1,131 2,103 1,535 |
|||
| 417,139 | 464,907 |
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Annual Report and Accounts for the year ended 31st December 2023
6a Staff Costs
| 6a Staff Costs | ||
|---|---|---|
| Gross salaries Employers' National Insurance Pension Contributions Staff training, development and expenses |
2023 £ 102,841 2,199 14,179 9,814 129,033 |
2022 £ 112,663 3,269 15,349 6,790 |
| 138,071 |
The average number of employees during the year was 6 of whom 2 were part time (2022: 7, of whom 2 part time) . No employee earned total emoluments exceeding £60,000 in the year.
None of the trustees or any persons connected with them received any remuneration during the period save that during the year the Children ’s and Families’ Minister £ 34,580 (plus pension contributions of £4,570) under their contract of employment. 3 trustees were reimbursed a total of £2,303 (2022: 5 / £3,678) for expenses incurred in the line of their duties. These are included in staff costs.
Of the staff costs, £82,650 has been covered by grants received from Larkbeare Christian Trust.
| 7 Tangible fixed assets Cost or Valuation As at 1 January 2023 Additions Disposals As at 31 December 2023 Depreciation As at 1 January 2023 Charge for the year Disposal As at 31 December 2023 Net Book Value As at 1 January 2023 As at 31 December 2023 |
Property £ 1,095,000 - - 1,095,000 - - - - 1,095,000 1,095,000 |
Equipment £ 80,304 - - 80,304 56,253 9,843 - 66,096 24,051 14,208 |
Total £ 1,175,304 - |
|---|---|---|---|
| - | |||
| 1,175,304 56,253 9,843 - |
|||
| 66,096 1,119,051 |
|||
| 1,109,208 |
The 3 houses owned by the PCC were valued in 2018 by Southgate Estates, with the previous valuations from 2011 shown in brackets, as follows:
27 Barnardo Road £450,000 (£285,000) 63 Cedars Road £335,000 (£245,000) 26 St. Leonard’s Ave. £310,000 (£220,000)
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Annual Report and Accounts for the year ended 31st December 2023
8 Investments
| Investments | ||||
|---|---|---|---|---|
| Market value at 1 January 2023 Revaluations Market value at 31 December 2023 |
Other £ 11,501 1,077 12,578 |
2023 Thomas Trust £ 272,660 21,247 293,907 |
Total £ 284,161 22,324 306,485 |
2022 Total £ 318,988 (34,827) |
| 284,161 |
The Thomas Trust is a restricted endowment fund – see Note (c) in accounting policies and Note 3 concerning where the funds are invested.
| 9 Debtors Debtors Prepayments Gift aid tax owing 10 Creditors: Amounts falling due within one year Creditors Diocesan fees Receipts in advance Agency Collections 11 Provisions for liabilities At 1 January 2023 Utilised At 31 December 2023 |
2023 £ 1,645 175 2,548 4,368 2023 £ 6,957 187 1,293 - 8,437 Total £ 37,000 - 37,000 |
2022 £ 2,895 - 5,508 |
|
|---|---|---|---|
| 8,403 2022 £ 3,443 - 1,837 160 |
|||
| 5,440 |
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Annual Report and Accounts for the year ended 31st December 2023
12 Related party transactions
There were no transactions undertaken by or on behalf of the PCC in which a connected person or other related party had a material interest. During 2023 the PCC received £26,984 in donations from trustees (PCC members) and their close relatives. The donors did not attach any conditions to their gifts which required the charity (PCC) to alter the nature of its existing activities.
13 Financial commitments
At 31 December 2023 the charity had no financial commitments (2022 - £Nil).
14 Funds
Restricted funds
| St. Leonard’s Other Unrestricted funds General fund Designated fund Total unrestricted funds Total restricted funds Capital funds Property fund Investment fund Total capital funds TOTAL FUNDS* |
5,368 - Opening £ 242,580 - 242,580 5,368 1,095,000 284,161 1,379,161 1,627,109 |
9,265 - Net resources £ 14,162 - 14,162 9,265 - - - 23,427 |
(9,265) - Transfers £ (65,735) 75,000 9,265 (9,265) - - - - |
- - Gains/ losses £ - - - - - 22,324 22,324 22,324 |
5,368 - Closing £ 191,007 75,000 266,007 |
||
|---|---|---|---|---|---|---|---|
| 5,368 1,095,000 306,485 |
|||||||
| 1,401,485 | |||||||
| 1,672,860 |
*The PCC has resolved that a sum of funds should be designated, to cover future building costs following the Quinquennial review and in relation to works we have been looking to complete over recent years. If these monies are not required, then we will release the funds back to General funds.
18
Annual Report and Accounts for the year ended 31st December 2023
15 Statement of financial activities for the year ended 31 December 2022
| Incoming resources Incoming resources from generated funds -Voluntary income 2 -Activities for generating funds -Investment income 4 3 Incoming resources from charitable activities 4 Other incoming resources 5 Total incoming resources Resources used Charitable activities 6 Governance costs Other resources used Total resources used |
Unrestricted funds £ 326,653 5,963 43,505 16,582 700 393,403 367,456 - - 367,456 |
Restricted funds £ 5,769 - 9,160 - 96,050 110,979 97,451 - - 97,451 |
Endowment funds £ - - - - - - - - - - |
Total funds £ 332,422 5,963 52,665 16,582 96,750 504,382 464,907 - - 464,907 |
Prior year funds £ 353,395 1,848 44,628 7,932 99,750 |
|---|---|---|---|---|---|
| 507,553 433,474 - - |
|||||
| 433,474 | |||||
| Net income / (expenditure) | 25,947 | 13,528 | - | 39,475 | 74,079 |
| Transfers Gross transfers between funds–in Gross transfers between funds - out |
9,160 - |
- (9,160) |
- - |
- - |
- - |
| Net income / (expenditure) Other recognised gains/losses Gains/losses on investment assets Gains on revaluation, fixed assets, charity’s own use Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
35,107 - - 35,107 207,473 242,580 |
4,368 - - 4,368 1,000 5,368 |
- (34,827) - (34,827) 1,413,988 1,379,161 |
39,475 (34,827) - 4,648 1,622,461 1,627,109 |
74,079 39,770 - |
| 113,849 1,508,612 1,622,461 |
19
Annual Report and Accounts for the year ended 31st December 2023
Independent Examiner’s report to the PCC of St Leonard’s Church
I report on the accounts of the PCC for the year ended 31 December 2023, which are set out on pages 10 to 19.
Respective responsibilities of the PCC and independent examiner
As members of the PCC you are responsible for the preparation of the accounts; you consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the PCC and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as PCC members concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
-
which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 130 of the 2011 Act; and
-
• to prepare accounts which accord with the accounting records and comply with the requirements of the 2011 Act
have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed: _____ Date: ________
David Tolhurst FCA 11 Lilley Walk Honiton Devon EX14 2EA
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