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2023-12-31-accounts

St Mark’s Church New Milverton Leamington Spa

Annual trustees report of the Parochial Church Council, review of the year and financial statements for the year ended 31 December 2023

Page 1 of 22

ST MARK’S CHURCH NEW MILVERTON

Registered as a charity: THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARK’S, NEW MILVERTON

Charity Registration No: 1128485

The principal office of the charity is:

St. Mark’s Church, St Marks Road, Leamington Spa, Warwickshire, CV32 6DL

01926 421004

office@st-marks.net www.st-marks.net

Page 2 of 22

Contents

Contents ....................................................................................................................................................................... 3
ANNUAL REPORT of the PAROCHIAL CHURCH COUNCIL - 2023 ..................................................................................... 4
Structure, Governance and Management ....................................................................................................................... 4
Connected Charities ......................................................................................................................................................... 4
Objectives and activities .................................................................................................................................................. 4
Mission Statement and Values ........................................................................................................................................ 5
Premises ........................................................................................................................................................................... 5
Legal ................................................................................................................................................................................. 5
VICAR’S REPORT ........................................................................................................................................................... 6
2023 - The Joy of Belonging. ............................................................................................................................................ 6
2024 - The Challenges of Believing and Becoming........................................................................................................... 6
REVIEW OF THE YEAR - 2023 ......................................................................................................................................... 7
Weekly worship ............................................................................................................................................................... 7
Other services .................................................................................................................................................................. 7
Electoral roll and church attendance ............................................................................................................................... 7
Small Groups .................................................................................................................................................................... 7
Prayer ............................................................................................................................................................................... 8
Baptisms, Marriages, and Funerals .................................................................................................................................. 8
Church Development Plan ............................................................................................................................................... 8
Young people ................................................................................................................................................................... 8
Outreach and Community support .................................................................................................................................. 9
Mission Support ............................................................................................................................................................... 9
Pastoral Care .................................................................................................................................................................... 9
Staff, Readers, and Clergy Matters .................................................................................................................................. 9
Further information ....................................................................................................................................................... 10
FINANCIAL REVIEW – YEAR ENDED 31 DECEMBER 2023 .............................................................................................. 11
Unrestricted Funds ......................................................................................................................................................... 11
Restricted Funds ............................................................................................................................................................ 11
Reserves ......................................................................................................................................................................... 11
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST MARK’S CHURCH ......................................................... 12
Respective responsibilities of trustees and examiner .................................................................................................... 12
Basis of independent examiner's report ........................................................................................................................ 12
Independent examiner's statement ............................................................................................................................... 12
STATEMENT OF FINANCIAL ACTIVITIES AT 31 DECEMBER 2023 ................................................................................... 13
BALANCE SHEET AS AT 31 DECEMBER 2023 ................................................................................................................. 14
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ................................................... 15
1.
Accounting Policies ............................................................................................................................................... 15
2.
Income .................................................................................................................................................................. 16
3.
Expenditure .......................................................................................................................................................... 17
4.
Staff costs and reimbursed expenses ................................................................................................................... 17
5.
Missionary and charitable giving .......................................................................................................................... 18
6.
Tangible fixed assets ............................................................................................................................................. 19
7.
Debtors ................................................................................................................................................................. 19
8.
Current asset investments .................................................................................................................................... 19
9.
Creditors ............................................................................................................................................................... 19
10.
Funds ............................................................................................................................................................... 20
11.
Capital commitments....................................................................................................................................... 21
12.
Related party transactions ............................................................................................................................... 21
13.
Connected Charities ......................................................................................................................................... 22

Page 3 of 22

St Mark’s Church, New Milverton ANNUAL REPORT of the PAROCHIAL CHURCH COUNCIL - 2023

- ANNUAL REPORT of the PAROCHIAL CHURCH COUNCIL 2023

Structure, Governance and Management

St Mark’s Church is part of the Deanery of Warwick and Leamington and the Diocese of Coventry within the Church of England.

The PCC is registered with the Charities Commission - Registered Charity Number 1128485.

PCC members are trustees of the charity. The PCC members who served from 1 January 2023 until 31 December 2023:

Vicar & Chair Rev Joanna Parker (until 27 February 2023) . Rev Timothy Broadbent (from 10 October 2023). Churchwardens Charlie Evans, Marcella King Deanery Synod David Calvert, Jeremy Clack, Sarah Lee (until 15 May 2023). Marcella King (from 17 July 2023) PCC Lay Chair Jeremy Clack Treasurer David Robinson Reader representative Marie Calvert Elected Members Tracy Bevan (until May 2023) Rob Lockyer Andrew Cooper Matty McArthur Pam Griffin-Booth Liz McEvoy Nikki Hill Alastair Watt Andrew Lee Geoff Thomas (from May 2023)

Trustees are PCC members appointed at the APCM or co-opted under the Parochial Church Council Powers Measure (1956) as Amended and Church Representation Rules, which is the governing document of the charity.

The trustees are aware of and have complied with the guidance on public benefit published by the Commission in exercising their powers and duties.

The PCC met seven times during the year to deal with ongoing matters for which they have responsibility. Other relevant people were:

Secretary to the PCC Sue Turner Bankers HSBC PO Box 88 Leamington Spa CV32 4BU Independent Examiner Ian Salvin, BSc (Econ) GMCA, Leamington Spa Architect Steven Matthews of Brown Matthews Architects

Connected Charities

The parish has two connected charities: The Church Society (The Christchurch Fund) and St. Mark’s Gilbert Scott Trust. Details are contained in Notes 13 & 14 to the accounts.

Objectives and activities

The PCC of St Mark’s has the responsibility of cooperating with the Vicar in promoting in the parish the whole mission of the Church: pastoral, evangelistic, social, and ecumenical. The PCC also has maintenance responsibilities for the church building and hall complex, along with oversight of the finances.

The parish seeks to play a full part in the life of the Diocese and supports its work through the parish share. The Diocese supports St Mark’s through the provision of the vicar and their housing. The parish is also committed to supporting the activities of the Warwick and Leamington Deanery.

Page 4 of 22

St Mark’s Church, New Milverton

ANNUAL REPORT of the PAROCHIAL CHURCH COUNCIL - 2023

Mission Statement and Values

The church’s mission statement is: Belonging… Believing… Becoming… A community of believers, sharing God’s love with the world. We are called by God and enabled by the Holy Spirit to grow as an inclusive, worshipping community. We seek to encourage belonging and nurture believing, together becoming followers of Jesus who share God’s love with the world.

The vision statement expresses the heart of the church and is lived out through Sunday worship and through the Small Groups, to which all church members are encouraged to belong.

The church is a member of the Inclusive Church Network, a network of churches which have a vision that celebrates and affirms every person and does not discriminate. (www.inclusive-church.org)

Premises

The church is a Grade II* listed building. A quinquennial inspection was carried out in March 2020. There are several items that need attention in the short term, and over the next few years.

Essential preventative and maintenance work is carried out as required including safety testing and servicing for various systems.

Some of the hall rooms are not part of the listing. As well as use by the church groups, the rooms in the hall complex are available for hire by community groups on a fair commercial basis.

The church is also available for use or hire by others and has been used by other organisations for several concerts.

Steven Matthews of Brown Matthews Architects is the church architect.

Legal

We believe that we conform to all legal requirements such as those related to finance, health and safety, kitchen standards, employment, GDPR etc.

Page 5 of 22

St Mark’s Church, New Milverton VICAR’S REPORT

VICAR’S REPORT

2023 - The Joy of Belonging.

I will show you my faith by my deeds. James 2:18

I must begin by giving thanks, firstly to the staff team at St Mark's – Amanda, Fiona, and Ros – for doing such a great job during the interregnum. I also want to thank the Preaching and Leading team, Amanda, Ellie, James, and Marie, who all had extra services to prepare for. Finally, thanks must go to the Church Wardens – Charlie and Marcella – for all the extra workload that comes with appointing a vicar.

When I arrived in September 2023, I encountered a joyful and welcoming community. This is a credit to every person who has ever volunteered to do anything at St Mark's. Through the love and support my family and I witnessed, I immediately felt that I belonged here. I saw your faith by your works and could tell your faith was deep and rich.

I have always believed that the best years of any church are yet to come. I was encouraged by the firm foundation of faith, love, prayer, and worship that I first experienced at St Mark's, and I know that our best years are yet to come.

2024 - The Challenges of Believing and Becoming

So Hagar gave this name to the Lord who spoke to her, "You are a God who sees". Gen 16:13

Throughout Lent 2024 we looked at the story of Sarah and Abraham. These heroes of our faith had a difficult relationship and some huge flaws. But God's promises prevailed. The story asks us to think about who believed in whom more. Is it that Abraham and Sarah believed in God enough to fulfil God's promises, or was it God's belief in Abraham and Sarah that fulfilled the promise? We will never know, but belief was then, and is now, a struggle. At a time when two wars are waging, and the pain of global inequality is rising, can we still believe? Our challenge remains to be faithful and trust in God. This is what Abraham and Sarah (mostly) managed to do.

Hagar is the tragic subplot to the story of Abraham and Sarah. Hagar, Sarah’s servant, was forced to bear a child with Abraham, and then she was cast out by Sarah when she did. Hagar was despised and rejected. A single mum stripped of resources and excluded. But God saw and saved Hagar, so she responded by doing something no one had ever done; she gave God a name – El Roi, the God who sees. Society rejected Hagar, but God did not. God saw her. As we embark on a journey of faith together, we need the Hagars of this world to enable us to see God and work out how we become who God is calling us to be.

During my licensing service, I said I had no idea what I was doing here, but I knew that God had called me to St Mark’s. Those sentiments remain true; I know without doubt that God has called me to St Mark's, and we will all discover what we are called here to do, in the hands of the God who sees.

Rev Tim Broadbent

Page 6 of 22

St Mark’s Church, New Milverton REVIEW OF THE YEAR - 2023

- REVIEW OF THE YEAR 2023

Weekly worship

Our normal pattern of services is two principal services of worship on Sundays and one on a Thursday morning.

Other services

We held services for all the major festival days including Holy Week, Easter, and Christmas.

Electoral roll and church attendance

At the 2023 Annual Parochial Church Meeting the electoral roll was 159 (2022:153).

The following figures include all those attending Sunday services within the buildings of St Mark's during the year. Average attendances were:

Small Groups

There are seven currently active adult Small Groups which meet weekly.

The groups are at the heart of church life and a great strength of St Mark’s with 55 church members regularly attending them. Each group is led by one or two leaders and the group structure includes a coordinator to support, encourage and equip the leaders and group members.

Small groups are an important place for building relationships, for pastoral care, and for encouraging and supporting each other in our Christian journey. They are also a channel to bring new people to faith. The vision is that each group will experience growth and multiply, i.e., growing both spiritually and numerically, recognizing that small groups are indispensable to healthy church life.

Page 7 of 22

St Mark’s Church, New Milverton REVIEW OF THE YEAR - 2023

Prayer

Prayer, both personal and corporate, continues to be essential to the life of the church. We have made a particular effort to encourage members to request prayer if needed through the office, the vicar, and by regular periods of the church being open. We aim to offer prayer ministry after every service except the AllAge services.

Baptisms, Marriages, and Funerals

As a Church of England parish, the church is available for parish residents and church members for the main life events. During 2023 four baptisms were held, and one marriage service. Four funerals were held in the church with an additional one full funeral service conducted at the crematorium.

Church Development Plan

Early in 2019, we asked all members of the congregation for their ideas and hope for the future that could be put into a five-year development plan. A priority plan was put together but was on hold throughout 2020 and 2021 due to the pandemic, and then again in 2023 due to the vicar vacancy. A series of smaller priorities were identified in early 2023 enabling the church to move forward as much as possible in the circumstances:

Priority 1 - To continue to develop a collective sense of belonging, and shared-identity through providing different opportunities for people to connect in community with one another, and to share God's love with the world.

Priority 2 - To sustain the established church vision statement.

Priority 3 - To continue developing how we meet spiritual need through the fullness of collective worship.

Priority 4 – To continue to maintain the church building and hall during the vacancy period.

Young people

Ros Davies is our Children and Families Worker. She has continued to be available to coordinate any school related activities, and the running of children’s activities.

Schools and college

The parish of New Milverton contains two (non-church) primary schools, a Roman Catholic secondary school, and Royal Leamington Spa College. The Children and Families Worker has worked with Milverton and Brookhurst School on a regular basis. Support on wellbeing of children has been offered by appropriate means. The schools came into the church for Experience Christmas and Harvest Festival.

The college is supported by a weekly volunteer chaplaincy team.

Children

The children's work is an integral part of the church's ministry.

Sunday morning groups are available for children and young people up to School Year 9, with typically 15 children attending weekly. (2022: 15-20) Toddlers, held weekly, attracts about 35 families. (2022:25). We hold occasional extra children’s activities, such as the Christmas tree decoration. We also held several Summer Fun days in the school holidays, primarily aimed at those who do not normally attend St Mark’s.

Youth

Pathfinders is available for children from year 6 in the Upper Room during the 10am Sunday service on 3 weeks out of 4. An average of 6 children attend.

A youth group runs on Wednesday evening and attracts an average of around 4 teenagers.

Page 8 of 22

St Mark’s Church, New Milverton REVIEW OF THE YEAR - 2023

Uniformed Organisations

A range of uniformed organisations are attached to the church; Rainbows, Brownies, Beavers, Cubs and Scouts number around 100 children in total. The groups normally meet on the church's premises when the lockdown regulations have allowed this.

Outreach and Community support

During the year, the church has continued to engage in outreach in the community. St Mark's works with other churches in the town, particularly in respect of Street Pastors.

We hold a twice-weekly toddlers' group for parents, carers, and toddlers to meet.

Through our online service, and latterly livestreaming our Sunday morning service, we have reached people in new and unexpected ways.

We continued with school assemblies and visits to church. We have also worked with the schools in giving hampers and food vouchers to families in need.

The church is open every week before the Thursday morning service for private prayer and refreshments.

Festivals have been celebrated with creative initiatives for everyone to join in with.

We have continued to support the local food banks with donations and have supported individual families in the parish at time of need.

Events

St Mark’s hosted a fundraising event for Flourish during the autumn.

Mission Support

St Mark’s tithes 10% of general income and is committed to supporting the work of mission worldwide and locally through finance, information, and prayer. In 2023 the organisations that received financial support are listed later in note 5.

The Group Report has more details. The mission notice board at the back of church is kept up to date with the latest news when we are open.

Pastoral Care

Strategy

Pastoral care is always a priority for the church. We hope that everyone in the congregation is involved in some way in pastoral care, especially through the Small Groups which are a key part of our pastoral care. Pastoral Care is coordinated through the office, supporting a team of volunteers.

Safeguarding

The PCC of St Mark’s is committed to the safeguarding of children and vulnerable adults. The Parish Safeguarding Officer oversees the DBS certification and safeguarding training of volunteers working with children and vulnerable adults and ensures that the church complies with diocesan safeguarding procedures and policies. The PCC continues the process of approving job descriptions for volunteer children’s and pastoral assistants. Kelly White was the parish safeguarding officer during 2023.

The PCC has adopted the Diocese of Coventry’s Safeguarding Policy, which complies with the guidance issued by the House of Bishops. A copy can be found on the notice boards in the church, and on our web site.

Staff, Readers, and Clergy Matters

Children and Families Work Coordinator

The PCC continued to employ Ros Davies as our Children and Families Work Coordinator.

Page 9 of 22

St Mark’s Church, New Milverton REVIEW OF THE YEAR - 2023

Office Administrators

The PCC seeks to maintain an office open as needed, staffed appropriately. Amanda di Giovanni is the office manager. Fiona Henshaw is the office administrator. Both roles are part-time.

Cleaner

A part time cleaner cleaned the hall areas during 2023, retiring in November. The job has been advertised.

Readers

In 2023 we had two Readers licensed to the parish: Marie Calvert and Amanda di Giovanni.

Vicar

Rev Joanna Parker stepped down as vicar in February 2023 and we embarked on a period of discussion, prayer and consultation resulting in the advert and parish profile becoming public in April 2023. These remain available on the PCC page of the church website.

Rev Tim Broadbent joined us on 10 October 2023. Rev Tim had previously been a curate at St Mary Becontree in Dagenham and has been supported by his wife Hannah and their two children.

Further information

A separate informal report detailing additional information on activities within the church is presented at the Annual Parochial Church Meeting.

Page 10 of 22

St Mark’s Church, New Milverton FINANCIAL REVIEW – YEAR ENDED 31 DECEMBER 2023

– FINANCIAL REVIEW YEAR ENDED 31 DECEMBER 2023

The detailed accounts appear on the following pages.

Unrestricted Funds

General

In 2023 the income of £169.9k covered expenditure of £175.6k, resulting in a deficit for the year of £5.7k (2022: Surplus £8.4k). Total planned giving was £127.3k (2022: £134.8k), thanks to our very generous congregation.

Income from trading activities (which includes premises letting and concerts) stood at £41.9k (2022: £36.8k)

Expenditure on general funds amounted to £158.5k for 2023 (2022: £150.0k). Our Diocesan parish share was as £70.0k (2022: £68.0k). Staff costs were £47.5k (2022 £44.9k). Premises and maintenance expenditure in 2023 was £11.3k compared with £9.3k in 2022.

During the year, the church was committed to pay £17.2k (2022: £13.4k) in tithes. The total tithe paid represented 10% of total income received in the year (measured on a cash rather than accruals basis) adjusted by an excess amount paid to the Diocese.

Designated

Generous legacies amounting to £51.5k were received and allocated to the designated funds.

Restricted Funds

£2.7k was received from the congregation and paid out for food hampers.

Balance Sheet

On 31 December 2023, total cash and short-term deposit balances stood at a £173.4k (2022: £123.2k). The increase thanks to the generous legacy. The church has total net assets of £334.8k (2022: £288.6k).

Reserves

During 2023 it cost around £13.4k per month to keep the church going, not allowing for any major repair work. The reserves in the general fund stand at £48.7k (2022: £54.5k), representing approximately 4 month’s expenditure. This does not include the Designated funds of £278.1k. The PCC believes that this is an acceptable level of reserves which will act as a buffer for any unforeseen events. It is aIso in line with good accounting practice.

Page 11 of 22

St Mark’s Church, New Milverton INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST MARK’S CHURCH

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST MARK’S CHURCH

I report on the accounts of the church for the year ended 31 December 2023, which are set out on the following pages.

Respective responsibilities of trustees and examiner

The church’s trustees are responsible for the preparation of the accounts. The church's trustees 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:

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 charity 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 trustees 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:

Signed:

Ian Salvin BSc (Econ), CGMA

Dated:

Page 12 of 22

St Mark’s Church, New Milverton STATEMENT OF FINANCIAL ACTIVITIES AT 31 DECEMBER 2023

STATEMENT OF FINANCIAL ACTIVITIES AT 31 DECEMBER 2023
Note
Income from:
Donations and legacies
Other trading activities
Other income
Total income
2		 2023
Unrestricted
Designated
Restricted
Total
Funds
fund
funds
funds
£
£
£
£
127,269
51,864
3,107
182,240
41,909
-
-
41,909
758
-
-
758
169,936
51,864
3,107
224,907		 2022
Total
funds
£
135,023
36,821
172
172,016

Expenditure on:
Charitable activities
3
Missionary and charitable giving 5
Total expenditure
Net movement of funds:
Reconciliation of funds:
Total funds brought forward
Total funds carried forward:		 158,466
-
3,076
161,542
17,158
-
-
17,158
175,624
-
3,076
178,700		 155,078
13,350
168,428
(5,688)
51,864
31
46,207
54,453
226,288
7,829
288,570
48,765
278,152
7,860
334,777		 3,588
284,982
288,570

Page 13 of 22

St Mark’s Church, New Milverton BALANCE SHEET AS AT 31 DECEMBER 2023

BALANCE SHEET AS AT 31 DECEMBER 2023

BALANCE SHEET AS AT 31 DECEMBER 2023
2023
Note Unrestricted
Designated
Restricted
Total
funds
fund
funds
funds
Fixed assets:
Tangible assets
6
790
160,000
-
160,790
Current assets:
Debtors
7
2,817
-
-
2,817
Investments
8
20,022
70,288
7,860
98,170
Cash at bank and in hand
27,673
47,864
-
75,537
Total current assets
50,512
118,152
7,860
176,524
Less liabilities:
Creditors falling due within one year 9
2,537
-
-
2,537
Net current assets
47,975
118,152
7,860
173,987		 2022
Total
funds
164,160
5,067
97,412
25,749
128,228
3,818
124,410
Total net assets
48,765
278,152
7,860
334,777
288,570
The funds of the charity:
Unrestricted funds
10
48,765
278,152
-
326,917
Restricted funds
-
-
7,860
7,860
Total charity funds
48,765
278,152
7,860
334,777		 120,741
167,829
288,570

The notes on the following pages form part of these financial statements.

Approved by the PCC and signed on its behalf:

Signed:

Rev Tim Broadbent (Vicar) as Chair of the Parochial Church Council of St Marks New Milverton

Dated:

Page 14 of 22

St Mark’s Church, New Milverton NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31

DECEMBER 2023

1. Accounting Policies

Basis of Preparation

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 SORP. In preparing the financial statements, the PCC of St Mark’s follows best practice as set out in the Statement of Recommended Practice Accounting and Reporting by Charities (SORP 2015).

Fund Accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the PCC of St Mark’s and which have not been designated for other purposes.

Designated funds have been set aside by the trustees for particular purposes. The aim and use of each fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors or which have been raised by the PCC of St Mark’s for particular purposes. The cost of raising and administering such funds are charged to the specific fund.

Incoming resources

All incoming resources are included in the Statement of Financial Activities when the PCC of St Mark’s is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Income from letting of the premises is included in the period in which the PCC is entitled to the receipt. Gifts in kind donated for distribution are included at valuation and are recognised when received.

Grants and legacies are accounted for when the PCC is legally entitled to the amounts due. Interest is included when receivable by the charity.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Grants and donations are accounted for when paid, or when awarded if the award creates a binding or constructive obligation on the PCC.

Tangible fixed assets and depreciation

Consecrated and benefice property are not included in the accounts in accordance with the SORP, as it is not possible to obtain an appropriate valuation for the church building. All expenditure incurred during the year on such property, whether maintenance or improvement, is written off on purchase or acquisition.

No value is placed on the church hall complex as this is regarded as an integral part of the church.

Moveable church fittings held by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal, are inalienable property, and are listed in the church’s inventory which can be inspected during office hours. For such furnishing acquired prior to 1

January 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements.

Other fixtures, fittings and office equipment uses within the church premises are depreciated on a straightline basis over their useful life ranging from 3 to 10 years. Individual items of equipment with a purchase price of £750 or less are written off in the year of expenditure. Assets donated to the PCC are not included with fixtures and fittings.

Page 15 of 22

St Mark’s Church, New Milverton

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2. Income

2.
Income
2023
Unrestricted
Designated
Restricted
Total
funds
fund
funds
funds
£
£
£
£
Donations and legacies
Planned giving:
Tax efficient donations
99,417
-
3,107
102,524
Tax recoverable
20,043
-
-
20,043
Other planned giving
5,643
-
-
5,643
Totalplannedgiving
125,103
-
3,107
128,210		 2022
Total
funds
£
102,618
24,591
5,478
132,687
Other donations
Legacies
-
51,516
-
51,516
Events and miscellaneous
2,166
-
-
2,166
Total other donations
2,166
51,516
-
53,682		 500
1,836
2,336
Total donations and legacies
127,269
51,516
3,107
181,892		 135,023
Other trading activities
Weddings and funeral fees
1,057
-
-
1,057
Premises letting
40,852
-
-
40,852
Total other trading activities
41,909
-
-
41,909		 1,891
34,930
36,821
Other income
Income from investments
758
348
-
1,106
Total other Income
758
348
-
1,106		 172
172
Total income
169,936
51,864
3,107
224,907
172,016

Page 16 of 22

St Mark’s Church, New Milverton

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

3. Expenditure

.
Expenditure
Ministry
Diocesan parish share
Clergy expenses
Outreach and mission
Teaching and pastoral
Worship and music
Youth work
Total ministry
Support costs
Salaries and wages
Church running expenses
Church office
Premises maintenance and repairs
Equipment depreciation
Total support costs
Total charitable activities		 2023
Unrestricted
Designated
Restricted
Total
funds
fund
funds
funds
£
£
£
£
70,029
-
-
70,029
1,066
-
-
1,066
1,359
-
-
1,359
195
-
-
195
2,111
-
3,076
5,187
1,338
-
-
1,338
76,098
-
3,076
79,174		 2022
Total
funds
£
68,000
1,120
826
208
4,621
1,282
76,057
47,497
-
-
47,497
13,631
-
-
13,631
6,580
-
-
6,580
11,290
-
-
11,290
3,370
-
-
3,370
82,368
-
-
82,368		 44,896
16,234
5,102
9,301
3,488
79,021
158,466
-
3,076
161,542		 155,078

4. Staff costs and reimbursed expenses

During the year there were no employment or housing costs, other than those specified below. The employment costs for the vicar (when in post) were paid by the Diocese. Since 1 September 2015 staff have had the option to join the Church of England Church Workers Pension Fund.

On average during 2023 the PCC employed 1 full time and 3 part time people, who each earned less than £60,000 per annum. No lay members of the PCC received a salary whilst a member of the PCC. No lay PCC members were reimbursed for personal, travel or subsistence expenses. (2022 £0).

Salaries and wages (includin
Employers pension contribu
Total staff costs
Average number of employ
Pastoral
Administration		 2023
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
g cleaner)
47,446
-
47,446
tions
51
-
51
47,497
-
47,497		 2022
Total
funds
£
44,398
499
44,897
ees in the year
2023
1
2		 2021
1
1

Page 17 of 22

St Mark’s Church, New Milverton

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

5. Missionary and charitable giving

Overseas 2023
Tithe
Restricted
Total funds
£
£
£
1,375
-
1,375
750
-
750
1,000
-
1,000
3,000
-
3,000
-
-
-
6,125
-
6,125		 2022
Total funds
£
1,000
750
1,000
1,000
500
4,250
Church Mission Society
CORD
Open doors
TEAR Fund
Ukrainian Appeal
Total overseas donations
Home
A Rocha UK
Children’s Society
Christians Against Poverty
Church Pastoral Aid Society
CPAS Falcon Camps
Churches Together in Leamington
Crossteach
Helping Hands
Inclusive Church
Leamington Street Pastors
Nightlite (All Saints PCC)
Royal British Legion
Student Christian Movement
Thrive Youth
You Can Flourish
Warwick District Foodbank
Vicar’s discretionary fund
Less provision
Total home
Total donations
100
-
100
1,004
-
1,004
4,000
-
4,000
1,125
-
1,125
300
-
300
200
-
200
500
-
500
1,150
-
1,150
200
-
200
200
-
200
100
-
100
100
-
100
400
-
400
400
-
400
1,000
-
1,000
300
-
300
100
-
100
(146)
-
(146)
11,033
-
11,033		 100
-
4,000
1,800
-
-
800
300
200
400
200
100
400
500
-
300
-
-
9,100
17,158
-
17,158		 13,350

The total tithe paid represented 10% of total income received in the year (measured on a cash rather than accruals basis) adjusted by an excess amount paid to the Diocese. 

Page 18 of 22

St Mark’s Church, New Milverton

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

6. Tangible fixed assets

Tangible fixed assets
Cost
At 1 January and 31 December
2023
Depreciation
At 1 January 2023
Charge for year
At 31 December 2023
Net book value
At 1 January 2023
At 31 December 2023		 Freehold
Property
Equipment
Fixtures
and fittings
Total
£
£
£
£
160,000
37,037
22,029
219,066
-
32,877
22,029
54,906
-
3,370
-
3,370
-
36,247
22,029
58,276
160,000
4,160
-
164,160
160,000
790
-
160,790

The flat in Brookhurst Court has been valued on a ‘for sale’ basis at £240,000.

7. Debtors

Income tax recoverable
Prepayments
Other debtors
Total debtors		 2023
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
890
-
890
1,005
-
1,005
922
-
922
2,817
-
2,817		 2022
Total
funds
£
1,020
1,733
2,313
5,066

8. Current asset investments

This consists of cash held in a no notice Scottish Widows charities account.

9. Creditors

Accruals
Tithes
PAYE & NI
Total creditors		 2023
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
1,245
-
1,245
-
-
-
1,292
-
1,292
2,537
-
2,537		 2022
Total
funds
£
2,344
300
1,174
3,818

Page 19 of 22

St Mark’s Church, New Milverton

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

10. Funds

Fabric funds
Upper Room refurbishment
Organ

Special fund-raising funds
East window protection
Eco Garden Fund
Food Hamper fund
Dishwasher/Oven
Ordination Fund

Total restricted funds
Unrestricted funds:
General fund
Designated funds
House fund
Livestreaming
Legacy Project fund
Building fund
Music fund
Total designated funds
Total unrestricted funds
Total funds
Represented by
Restricted
Fabric
Special fund-raising
Total restricted
Unrestricted
Designated
House fund
Livestreaming
Legacy project fund
Building Fund
Music Fund
Total designated funds
General fund
Total unrestricted funds
Total funds		 Balance 1
January
2023
Incoming
resources
Resources
expended
Balance 31
Dec 2023
Net funds
movement
£
£
£
£
£
3,827
-
-
3,827
-
991
-
(350)
641
(350)
4,818
-
(350)
4,468
(350)		 Balance 1
January
2023
Incoming
resources
Resources
expended
Balance 31
Dec 2023
Net funds
movement
£
£
£
£
£
3,827
-
-
3,827
-
991
-
(350)
641
(350)
4,818
-
(350)
4,468
(350)
2,907
-
-
2,907
-
-
392
-
392
392
-
2,661
(2,726)
(65)
(65)
104
-
-
104
-
-
54
-
54
54
3,011
3,107
(2,726)
3,392
381
7,829
3,107
(3,076)
7,860
31
54,453
169,936
(175,624)
48,765
(5,688)
160,000
-
-
160,000
-
1,621
-
-
1,621
-
-
51,864
-
51,864
51,864
59,412
-
-
59,412
-
5,255
-
-
5,255
-
226,288
51,864
-
278,152
51,864
280,741
221,800
(175,624)
326,917
46,176
288,570
224,907
(178,700)
334,777
46,207
Fixed assets
Net Current Assets
Total
£
£
£
-
4,468
4,468
-
3,392
3,392
-
7,860
7,860
160,000
-
160,000
-
1,621
1,621
-
51,864
51,864
-
59,412
59,412
-
5,255
5,255
160,000
118,152
278,152
790
47,975
48,765
160,790
166,127
326,917
160,790
173,987
334,777

Page 20 of 22

St Mark’s Church, New Milverton NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Restricted funds: fabric funds

These represent donations made for the improvement and major maintenance of the church building and hall complex and equipment and include:

Upper room fund was set up to finance the improvement of facilities for young people of the parish.

Organ fund represents donations made for improvement and major maintenance of the church organ.

Restricted funds: special fund-raising funds

These represent donations made for specific fund-raising efforts and include:

East window protection fund was set up in 2015 to hold a donation received from the Gilbert Scott Trust for this specific purpose.

Eco Garden fund was set up to create and maintain the garden around the church.

Food hamper fund represents monies collected to provide hampers for needy local families as identified by Brookhurst and Milverton Schools

Dishwasher/Oven fund exists to improve equipment in the kitchen.

The Ordination fund was collected at the licencing service in October and is yet to be paid to the Diocese.

Unrestricted funds

Designated funds:

House fund is the fund transferred from the restricted fund and represents the book value of the flat at 30 Brookhurst Court

Legacy project fund is a legacy from a generous donor, set aside for a future project.

Building fund is the amount agreed by the PCC to be put aside to finance future building work.

Music fund is to be spent on music. The PCC had received a donation of a Steinway grand piano in the 1950s. It required over £10k to restore it and the PCC decided to sell it in 2018. The money is being held in a designated fund.

11. Capital commitments

There were no capital commitments at 31 December 2023 (2022: 0)

12. Related party transactions

There were no other disclosable transactions in respect of PCC members, persons closely connected with them or other related parties.

Page 21 of 22

St Mark’s Church, New Milverton NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

13. Connected Charities

Church Society - Registered charity 249574

The Church Society holds a trust for the benefit of St Mark’s.

Permanent Endowment Fund
At 1 January
Gains (Losses) on revaluation
At 31 December
Restricted Funds
At 1 January
Incoming funds
Transfers
At 31 December		 2022
2021
75,483
68,056
(9,707)
7,427
65,776
75,483
3,665
2,813
1,899
1,901
(950)
(1,049)
4,614
3,665

The endowment fund is specified as ‘in furthering the religious and other charitable purposes of the Ecclesiastical parish of St Mark's Leamington Spa, so long as the doctrine and worship in the parish of St Mark’s are evangelical in character’. This wording has been the subject of much debate with the Church Society; their current stance is that the funds will not be released unless St Mark’s subscribes to the Church of England Evangelical Council’s Basis of Faith (including Additional Declarations). This is incompatible with our inclusive stance and some work was carried out in 2022 and 2023 towards challenging this. This work will continue.

There is no reference to the restricted fund.

St Mark’s Gilbert Scott Trust - Registered charity 1032347

The aim of the trust is to raise money for the restoration, maintenance, and improvement of St Mark’s church building. The trust has been dormant throughout the year ended 31 December 2023 having transferred its remaining balances to the St Mark's Restricted East Window Protection fund in 2015.

Page 22 of 22