THE PAROCHIAL CHURCH COUNCIL OFTHE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 Parochial Church Council of St Peter and St Paul, Aldeburgh Annual Report For the year ended 31st December 2024 Rector- The Reverend Sarah du Boulay Assistant Priests.. The Reverend Nichola Wlnter IOLMI The Reverend Johanna Mabey Curate: The Reverend Mary Brown Registration number 1128659
THE PAROCHIAL CHURCH COUNCIL OFTHE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 315tDECEMBER 2024 Contents Page Administrative Information Report from the Trustees Report from the Auditor io Statement of Financial Affairs 15 Balance Sheet 17 Statement ofcashflow 18 Notes to the accounts 19 21Page
THE PAROCHIAL CHURCH COUNCIL OFTHE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL. ALDEBURGH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31sTDECEMBER 2024 Admlnistrative Information Bank Barclays Bank PIC Aldeburgh Branch Suffolk Coastal Group 4 Church Street Woodbridge, IP12 2LT United Trust Bank Virgin Monev CCLA Investment Fund Auditor Rickard Luckin Limited First Floor, County House 100 New London Road Chelmsford CM2 ORG Treasurer Mr Adrian Brown/Mr Robert Fleming The Parish Office Victoria Road Aldeburgh, IP15 SEA Parish Admlnistrator Mrs Claire Turner The Parish Office Victoria Road Aldeburgh, IP15 SEA Minute Secretary Mrs Jenny Digby The Parish Offi'ce Victoria Road Aldeburgh. IP15 SEA 31Page
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OF THE TRUSTEES FOR THEYEAR ENDED 31sTDECEMBER 2024 Administrative Information St, Peter and St, Paul Church is situated in Victoria Road, Aldeburgh. It Is part of St. Edmundsbury and Ipswich within the Church of England. The correspondence addre55 15 the Parish Office. Victoria Road, Aldeburgh, IP15 SEA. The Parochlal Church Council IPCCI is a charity registered with the Charity Commission. Number 1128659 PCC members who have served from Istjanuary 2024 until the date of the signing of the report are.. Incumbent (Chairman 15tJanuary 2024- 31 December 20241-. The Reverend Sarah du Boulay Curate.. The Reverend Mary Brown Assistant Priest-. The Reverend Nichola Winter, SSM Assistant Priest.. The Revererid Johanna Mabey Warden- None Representatives on Deanery Synod IFor the new triennium until 20251.. Mrs Carrie Spence Lay Members ofthe PCC.. Canon Dr. Mo 8lackburn- Resigned May 25 Mrs. Sandra Saint- Resigned May 25 (until 20261 Mr. Roderick Linsell luntil 20261 Mrs. Jenny Digby (until 20261 Mr. Ken Smith Resigned May 25 (until 20261 Mr. Derek Cook luntil 20261 Mr. Julian Worster (until 20261 Mr. Andrew Scrivens (until 20261 Ms Carola Spence (until 20271 Miss Rosamund Blackburn Appoints 2151 May 2024 (until 20271 Mrs. Linda Karen Thackrav luntil 20271 Mrs. Cheryl Smith (until 20271 Mr. Simon Cobbin There were seven meetings of the PCC during the year, including that after the Annual Meeting. Note I.. PCC Vacancies Based on the current number of members on the electoral roll, there may be up to nine elected members to the PCC. PCC members are elected to Serve a three-year term. Two lay members of the PCC finish their elected terms at the 2025 APCM, which will leave a total lay membership of ten. There are therefore currently no vacancies. 41Page
THE PAROCHIAL CHURCH COUNCIL OFTHE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31sTDECEMBER 2024 Trustees Report The Trustees present the report and linancial statements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out to comply with the Charities Act 2011 and Accounting and Reporting by Charities. Statement of Recommend Practice applicable to charities preparinE their accounts in accordance with the Financial Reporting Standard. The information set out on page I forms part of this report. Structure Governan and Management: The method of appointment of PCC members is set out in the Church Representative Rules. All Church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC. There is currently one other committee, the Standing Committee. Day-to-day management and running of the charity is carried out by the Priest in Charge and Church Wardens. All Church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC. There is currently one other committee, the Standing Committee. Day-to-day management and running of the charity is carried out by the Priest in Charge and Church Wardens. The PCC members received no remuneration. There are no transactions with related parhes requiring disclosure. Objectlves and Activities: The PCC of St. Peter & St. Paul, Aldeburgh, has the responsibility of co-operating with the incumbent, and the asslstant Priests in promoting in the ecclesiastical parish the whole mission of the Church; pastoral, evangelical, social and ecumenical. It also has responsibility for the maintenance and upkeep of the church buildin& church hall and Fairlield Centre. The PCC has a support structure which includes Standing Committee, Church Hall Committee, Fairfield Centre Committee and three panels.. the Mission Panel, the Fabric Panel and the Youth and Children Panel. These committees and panels deal with the everyday running of the Church and the Standing Committee has power to transact business between PCC meetings. The Diocesan Board of Finance is Custodian trustee of both the Church Hall and the Fairlield Centre. The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016. The PCC promotes a safer church for all in the church community, and has ensured there is a plan in place to raise awareness of, promote training and ensure that safeguarding is taken seriously by all those in the church community. In accordance with Charity legislation, when planning our activities for the year, the incumbent and the PCC have considered the Charity Commission's guidance on public benefit and, in particular, the specilic guidance on charities for the advancement of religion. We try to enable people to live out their faith as part of our parish community through.. • Worship and prayer: learnlng about the Gospel and developinB their knowledge and trust in Jesus Christ Provision of pastoral care for people living in the parish and those visiting
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31stDECEMBER 2024 Missionary and outreach work Provision of a venue for musical and other artistic endeavours for the benefit of the community. To facilitate this work, it is important that we maintain the fabric of the church, church buildings, car park and churchyard. Both visitors and worshippers are welcomed. Fundraising The main source of funding is from members donations and giving at worship. Whilst the Charity has received the significant legacy, it plans to use this to enhance the Church building and develop its activities and what it can offer the communitv. The objective of the Charity Is to cover general running costs without using the legacy funds. Various activities are organised by Church members during the year to raise funds and enhance team working together. No external fundraising agents are used. The Charity has not subscribed to any external fund ralsing schemes or regulation in the year either 05 requirement or on a voluntary basis. Fundraising has been on a small scale and locally based and there have been no failures to meet anv regulation. The Charity did not monitor and fundraising activities of any individual. There were no complaints received in the year as a result of any fundraising acttvity. Electoral Roll The Church of England Roll adopted at the Annual Parochial Church Meeting on 25th May 2025 stood at 93 with whom 13 lived outside the parish. Review of the year from the Rettor What a wonderful year we have had. and how many blesslngs God has poured down on us in Aldeburgh. In May, we hosted a deanery conlirmation servlce led by Bishop Mike, which included 4 people from Alde Sandlings being confirmed. We have had our usual commemorative seNices. Advent, Lent and major festival seNices, to which we always welcome a large number of visitors as well as our usual worshippers. We also hosted a phenomenal Festival Service and Civic SeNice, as well as the Carnival Songs of Praise (where we also walked in the parade) and continue to enjoy excellent ecumenical links with our Catholic and Baptist brothers and sisters. Our Crib Service on Christmas Eve was a particular highlight as we welcomed nearly 400 people into thurch alongside the Britten Pears Chamber Choir and our favourite sheep friendl We continue to pray for revival in Alde Sandlings, and our dedicated benefice team abended a diocesan run 'Leading Your Church Into Growth, course, which has helped us to reflect both on what we already do well, and what we need to focus our efforts on in the future. Having learnt from this, the benelice is looking to employ a Children and Families, Worker, and we are currently half way through the second benefice Alpha course of the year (this time being hosted by Aldringham. the first by Aldeburghl. 61Page
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OF THE TRUSTEES FOR THEYEAR ENDED 31sTDECEMBER 2024 The church-owned Fairfield Centre is having a great year, ably managed by Linda Lumpkin,. being used more and more by the community and improving its, tinancial situation. We look forward to prayerfully working out how best to use the centre for mission in the future- the purpose for which it was originally purchased. As alway5, 1 must thank all of our wonderful volunteers. without whom the church wouldn't function either as a worshipping body, or as a building. our team of Sacristans, Cleaners, Side5people, Flower Team, PCC, Coffee Team, Choir, Rota Organisers, Readers, Organists, Friends, Sanctuary Guild, people who pray so faithfLJlly, and many others who give of themselves, their time and their resources so freely. Thank you all from the bottom of my heart. l also must say a huge thanks to our dedicated ministry team, both lay and ordained. Rev'd Mary was ordained Priest in July and we enjoyed travellinE to Bury St Edmunds to support her, and Since then have benelited greatly from her priestly ministry. Rev'd Nicky, our retired priests and Lay Elders are so generous with their time and themselves, and it is a continued pleasure to minister alongside you. Last year we took as our vision the theme of 'Generous Hospitality,, really focussing on our welcome to people and thinking about how we offer them hospltality as Christians. This year, I would prayerfully like us to take this theme further by focussinE on 'Generous Mission, A Generous Mission is one which is a call to share God's generosity with others in everything we do, say think and are. It looks out beyond our churth building into the communities in which we live and seNe and considers how we best represent the God we love. We know love by this, that he laid down his life for us and we ought to lay down our lives for one another. How does God's love abide In anyone who has the world's goods and sees a brother or sister in need and yet refuses help? Little children, let us love, not in word or speech, but in truth and action. l John 3..16-18 So please join me in praying for our church. and our parish of Aldeburgh,. that over the next year we can prayerfully discern God's calling to us, and continue to spread the Good News of the Gospel throughout His kingdom, joyfully loving God and loving each other as He would have us do. Financial Review of the year The Charity held £1.48million at the end of the year In total funds. Of these £349k are in respect of Endowments or can only be used for restricted purposes The major legacy received in the year has been designated to develop the Fabric and operations of the Church. Projects to improve lighting, flooring and the renovation of the Church hall have been identifted. The Trustees have acknowledged the significance of the legacy and are working on the basis of using 50% on projects currently being developed and retaining £500,0(X) until these projects have been completed. A second batch of projerts can be then identified. The trustees acknowledge that the legacy was not given to be just held as investment, but do not wish to rush into a "spend, spend, spend" culture, rather to ensure that best use of the money is made to give a lasting heritage. 71Page
THE PAROCHIALCHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OF THETRUSTEES FOR THE YEAR ENDED 31stDECEMBER 2024 It is expected that at least £IOO,000 will be spent each yearforthe next 5 years, depending on securing the necessary authorisations for the works to be carried out. All the funds are currently held on an investment account with instant access, earning a reasonable rate of interest. The Trustees will explore the possibility of anyother investment with up to 12 month's notice giving a superior rate. A full investment Policy 15 also in the process of being prepared to balance risk with reward. The Charity will only deposit funds in a bn approve bank Investment account and will not speculate by investing in Bitcoin, Stocks and share, gold or any other commodity The reserves held at the end of the year were £1,130,911 after deduction of restricted funds. Of this, £1,036,152 has been designated. The Charity 15 currently formulating a reserves Policy in keepinE Wlth the sudden inflex of funds froyn the legacy. Previously it aimed to keep a sum equivalent to 3 months running costs in unrestricted reserves. During the year, the Charity received notification of a legacy in the will of a formal parishioner. The will provided that the value of the estate, after the granting of several small gifts was to be donated to the Church. The final tigure is unclear, but likely to be just over £1,000,000. During the year the sum of £900.000 was received and a further £75,000 was paid in early 2025. The final distribution Is estimated to be around £33,000 and this has been provided for. The Church has set up a Legacy Committee to ensure that the best Use is made of this income and oversee the spending of the Legacy, building a balance between using the money but given very careful thought as to how it is used. Approximately half has been designated towards several improvements to the Fabric of the Church, the other half is being retained for further projects once the initial projects are complete. The financial effect of the legacy has been to improve liquiditv Sl8nificantly and to give the Charity some comfort as it continues to recover from the effects of the Covid pandemic and to ensure that its general income can cover is general running costs. 81Page
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF 5T. PETER & ST. PAUL, ALDEBURGH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31sTOECfMBER 2024 Statement of the Responsibilltles of the Trustees in re5pe¢t of the Financlal Statements The charity trustees are responsltjle for preparlng a trustees, annL¢al report and financlal statements in accordance with appllcable law and United Kingdom Accountlng Standards IUKfjAAPI. In preparlng the financlal statements the trustees are required to.. select suitsble Accounting policles and apply them consistentlv. observe the methods and princlples in the applicable Charities SORP; make judgments and estimates that are reasonable and prudent; state whether appllcable Accounting standards have been followed. subSect to any material departures disc105ed and explained In the linancial statements. and • prepBre the flnanclal statements on the going Concern basis unless It is inappropriate to asstjme that the charlty wlll continue In business. The trustee5 are responsible for keepln8 proper 3c¢ountinB records that dlsclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and the applicablè Charities (Accounts & Reports) ReBulation5. They are responsible for safeguarding the assets of the charlty and taking reasonable step for the prevention and all detection of fraud and other Irregularities. The report was recelved by the board of trustees on ovember 2025. The Re¥d Sarah du Boulay (Chairman) 91Page
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OFTHETRUSTEES FOR THE YEAR ENDED 31sTDECEMBER 2024 INDEPENDENT AUDITOR'S REPORT TOTHE MEMBERS OF THE PAROCHIALCHURCH COUNCIL OF THE ECCLESIASTICAL PAR15H OF ST. PETER & ST. PAUL, ALDEBURGH Opln5on We have audited the financial statements of The Parochial Church Council of the Ecclesiastical Parish of St Peter & St Paul, Aldeburgh (the 'charity'l for the year ended 31 December 2024 which comprise the statement of financial activities, balance sheet, cash flow and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financiul Reporting Stond(yrd upplicuble in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the linancial statements= give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming resources and application of resource5 for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI11SAs IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibillties in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusion5 relatlng to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accourbting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identilied any material uncertainties relaiing to events or conditions that, individually or collectively, may cast significant doubt on the charity'5 ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 10IPage
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31sTDECEMBER 2024 Other information The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other inft)rmation, we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: the information given in the trustees, report is inconsistent in any materlal respect with the financial statements,. or sufficient accounting records have not been kept,. or the financial statements are not in agreement with the accounting records and returns,. or we have not received all the information and explanations we require for our audit. Responslbilitie5 Ot trustees As explained more fully in the trustees, responsibilities statement set out on page 9 the trustees are responsible forthe preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of tinancial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessinE the charity's ability to continue as a going concern, disclosing, as applicable, matters related to goir4g concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the flnancial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report In accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but Is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when
THE PAROCHIAL CHURCH COUNCIL OFTHE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31sTDECEMBER 2024 it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the ecot)omic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Capability of the audit in detecting irregularltyfft including fraud We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our: general commercial and sector experience,. through verbal and written communications with those charged with governance and other management,. and via inspection of the charity's regulatory and legal correspondence. We discussed with those charged with governance and other management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations to our team and remained alert to any indicators of noncompliance throughout the audit, we also specifically considered where and how fraud may occur within the charity. The potential effect of these laws and regulations on the financial statements varies considerably. Firstly, the charity is subject to laws and regulations that directly affect the financial statements, including.. the charity's constitution; relevant financial reporhng Standards; company law. the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with FRS 102 (effective from l January 20191 and we assess the extent of compliance with these laws and reEulations as part of our procedures on the related financial statement items. Secondly the charity is subject to many other laws and regulations where the consequences of non- compliance could have a material effect on the amounts or disclosure5 in the financial statements, for instance through the imposition of fines and penalties, or through losse5 arising from litigations. We identilied the following areas as those most likely to have such an affect: legislation directly applicable to charities sector such as the Charities Act 2011,. Church Representation Rules,. employment legislation; health and safety legislation,. safeguarding legislation; the regulatory requirements of the Charity Commission and data protection legislation. International Auditing Standards IUKI limit the required procedures to identify non-compliance with these laws and regulations to the procedures, and no procedures over and above those already noted are required. These limited procedures did not identify any actual or suspected non-compliance which laws and regulations that could have a material impact on the financial statements. 121Page
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL. ALDEBURGH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31srDECEMBER 2024 In relation to fraud, we performed the following specific procedures in addition to those already noted.. Challenging assumptions made by management in its significant accounting estimates in particular.. recognition of income,. Identifying and testing journal entries, in particular any entries Posted with unusual rsominal ledger account combinations,. Performing analytical procedures to identify unexpected movements in account balances which may be indicative of fraud,. Ensuring that testinE undertaken on both the Statement of Financial Activity ISOFAI and the Balance Sheet includes a number of items selected on a random basis. These procedures did not identify any actual or suspected fraudulent irregularity that could have a material impact on the financial statements. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements. even though we have properlv planned and performed our audit in accordance with International Auditing Standards IUKI. For example, the further removed non-compliance with laws and regulations is from the events and transartions reflected in the financial statements, the less likely the procedures that we are required to undertake would identify it. In addition, as with any audit, there remains a high risk of non-detection of irregularities, as these might involve collusion, forgery, intentional omissions, misrepresentation, or the override of internal contro15. We are not responsible for preventing non-compliance with laws and regulations or fraud, and.cannot be expected to detect non-compliance with all laws and regulations. or every incidence of fraud. A further description of our responsibilities is located on the Financial ReporknnE Council's website at.. htt www.frc.or auditorsres onsibilities. This description forms part of our auditor'5 report. Other Matters In accordance with section 144 of the Charities Act 2011, an audit was not undertaken for the year ended 31 December 2023. 131Page
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31sTDECEMBER 2024 Use of our report This report is made Solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity'5 trustees those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed Janine Mansfield (Senior Statutory Auditor) For and on behalf of Rickard Luckin Limited, Statutory Auditor Chartered Accountants First Floor, County House 100 New London Road Chelmsford CM2 ORG Date: 141Page
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31sTDECEMBER 2024 Statem8nt of Financial Activities - 2024 Unrestricted Deslgnated Restrlcted Endowment Total 2024 Income from:. Donations and Legacies Charitable Activities Other trading activities Other Income Investments Total Income 68.506 46,445 11,516 2,000 5,977 134,444 1,008,000 9,065 1,076,506 55,510 11,516 2,000 20,577 1,166,109 14,600 1,031.665 Expendlture Charitable Activities Raising Funds Total Expenditure 172,509 448 172,957 14,169 1,203 187.881 448 188,329 14,169 1,203 Net IncomelExpenditure before transfer5 {38,513) 1,017,496 11,203) 977,780 Transfers into funds Transfers from Funds Gainlloss on Investments 5.135 5,135 Net Movement In Funds 133,3781 1,017,496 11,2031 982,915 Funds brought forward 128,137 18.656 326,192 23,871 496,856 Funds carrled forward 94,759 1,036,152 324,989 23,871 1,479,771 151Page
THE PAROCHIAL CHURCH COUNCILOFTHE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31sYDECEMBER 2024 Statement of Financial Activities - 2023 Unaudlted Total 2023 Unrestricted Designated Restricted Endowment Income from:_ Donations and Legacies Charitable Activities Other trading aotivities Other Income Investments Total Income 59.441 54.795 4.662 2,125 560 121,583 59,441 62,457 4,662 2,125 7,108 135,793 7,662 87 7,749 5,809 5,809 652 652 Expenditure Charitable Activities Raising Funds Total Expenéilure 147,044 9,739 156.783 147,044 9,739 156,783 Net IncomolExpenditure before transfers {25,4611 11,990) 5,809 652 120.990) Transfers into funds Transfers from Funds Gain1105s on Investments 1.920 1,920 11,920} 21,362 (1,2681 1,350 16521 2,069 17,943 Net Movement in Funds {25,3791 {1.990) 25,672 2,069 372 Funds brought forward 153.516 300,520 21,802 496,484 Funds carried fonNard 128.137 18,656 326,192 23,871 496,856 161Page
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIA5YICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OFThETRUSTEES FOR THE YEAR ENDED 31srDECEMBER 2024 BaiAnco Sho•t Unaudltad Agai31" December2023 A8ot31" DeGtmbgr2024 Flxed Ass8tg Tangible Assets Investment assets Total Fixed Assets 95,862 2tsf3,363 349.225 94,900 248,228 343.128 Curf8nt Ass8ts Cash at bank and on Oeposlt Debtors Total current Assets 1.034.746 114,000 1,148,746 153,728 153.728 Currant Ll8bliitle8 Credltor8 payable withln ona year 18.200 Total Li8bllltios 1B,200 Tot41 Nèt As3vJts 1,479.771 496,856 Re5emJ Unrostrlcted Desi nated Restricted Endowment 94.759 1,036.152 324.989 23,871 128,137 18,656 326,192 23.671 Totgl reserves 11 1,479,771 496,858 Approved Bnd 8 ed on BeliE?11 ul tl)e Church councll by The Fieve18nd Saroh du Bouloy Chair DBt8 ia/ii135
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31stDECEMBER 2024 Statement of Cashflow Unaudited 2023 2024 Cash flow from o eratin activi Cash eneratedllabsorbedl b erations 877,606 3,129 Cash flows from Investing activities Proceeds from Sale of e ment Purchase of Fixed Assets Interest Received Dividend received Net cash from Investin 112,0301 20,577 7,108 Activit 8.547 7.108 Cash flows from finance activities Interest aid Re ment of borrowin Dividends aid Net cash from financin activi Net increase/decrease in cash and cash e uivalents 886.153 10.237 Cash and cash e uivalents at be innin ear 401.956 391.719 Cash and cash e uivalents at the end of the ear 1,288.109 401.956 Bank and Cash balances Short term de osits 1,034,746 253,363 153,728 248,228 181PaEe
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31sTDECEMBER 2024 NOTESTO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Basis of preparatlon Basis of accounting These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notels) to these accounts, accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on l January 2019 and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021. The financial statement5 have been piepared to give a 'true and fair. view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view, This departure has involved following 'Accounting and Reportirsg 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 1021 Igecond Editionl'rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. They do not include the accounts of church groups that owe their affiliation to another bodv, nor those which are informal gatherings of church members. Going concern At the time of approving the accounts the Trustees have a reasonable expectation that the charity has sufficient reserves and that the charity Is a going concern. Changes in basis of accounting There have been no changes to the basis of accounting. Changes to previous accounts There have been no changes to the previous accounts Accounting policies Funds accounting Funds held by the PCC are.. Unrestrlcted funds- general funds which can be used for PCC ordinary purposes. Designated funds - monies set aside by the PCC out of unrestricted funds for specific future maintenance purposes or projects. 191Page
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & 5T. PAUL, ALDEBURGH REPORT OF THETRUSTEES FOR THE YEAR ENDED 315TDECEMBER 2024 Restricted funds- income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest,. donations or grants received for a specilic object or invited by the PCC for a specific object. bl The funds may only be expended on the specific object for which theywere given. Any balance remaining unspent at the end of the year is carried forward as a balance on that fund. Endowment funds - funds the capital of which must be maintained. only income arising from the investment of the endowment may be used, either as restricted or unrestricted funds, depending on the purpose set out in the terms of the original endowment. Incoming resources All incoming resources are accounted for gross. 2.2a Voluntar Income Collections are recognised when received. Planned giving receivable Is recognised only when received. Car park donations are recognised when received Income tax recoverable on Gift Aid donations is recognised when the donation is received and an amount estimated as due but not received is accrued for. Grants and legacies are recognlsed when the PCC is legally entitled to the amount due. 2.2b Income from investments Interest is accounted for as it accrues. 2.2c All other income All other income is recognised when it is receivable. 2.2d Gains and105ses on investments Realised gains are recognised when the investments are sold. Unrealised gains and losses are accounted for on revaluation on 31 December. Resources used Resources expended are accounted for on an accruals basis and are accounted for gr055. 2.3a Grants and donations 20IPage
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31sTDECEMBER 2024 Grants and donations are accounted for when paid over, or when awarded where the award creates a binding obligation on the PCC. 2.3b Church Activitie5 The diocesan parish contribution is accounted for when paid. Any parish contribution unpaid at 31 December is provided for in these accounts as an operational Ithough not a legall liability and is shown as a creditor in the balance sheet Fixed Assets Church Hall and Fairfield Centre Buildin Commencing in 2000, depreciation is being provided on the building5 of the Church Hall and Fairfield Centre. The depreciation raters are. Church hall 4Yo of valuation, Fairfield Centre 2%- 5% of cost. The car park resurfacing is being depreciated at IO% of cost. No revaluation of the buildings has taken place subsequently. No revaluation of the buildinES has taken place subsequently. Investments Investments are valued at the market value at 315t December in the applicable year. Consecrated ro ert and moveable Church furnishin Consecrated and benetice property is excluded from the financial statements by SIOl2llal of the Charities Act 2011. Movable church furnishing held by the Vicar and Churchwardens on special trust for the PCC I, and which reqLJlre a faculty for disposal, are accounted for as inalienable property unless consecrated and listed in the Church inventory which can be inspected at any reasonable time. Foe inalienable property acquired prior to 2000 there is Insufficient cost information available and therefore such assets are not valued in these accounts. Any items acquired since I January 2009 have been capitalised and depreciated in the accounts over their currently anticipated useful economic life, usually 4 years on a straight line basis. Other fixtures fithn sande ment Individual items of equipment with a purchase price of up to £2,500 are written off when the asset Is acquired. The Steinway piano has been capitalised at purchase price and h35 been depreciated to its estimated minimum residual value of £20,000 All expenditure incurred on consecrated or benetice buildings, any individual items under £2,500 tost or the repairs top moveable church buildinES acquired before I" January 2001 is written off. 21 |Page
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 Investments Investments are stated at market value at the balance sheet date. Current Assets Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown a debtor less provision for amounts that the PCC believe may prove uncollectible. Short-term deposits include cash held on deposit either with the CBF Church of England Funds, or at the bank. Current liabllltles Any known liabilities at the year end are provided for together with an estimate of Gas and Electricity used but not billed. Annual payments such as for insurance are charged in full when paid, Taxation As a registered Charity, the organisation is not liable for Corporation tax. VAT Incurred is not recoverable and costs shown include any VAT or other taxes incL¢rred. 221Page
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL. ALDEBURGH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 315TDECEMBER 2024 Analysis of Income Unaudited Total 2024 Total 2023 Unrestricted Designated Restricted 3.1 Donations and Legacles Planned Giving Collections Other donations Income tax recoverable Legacies Total donations and legacies 35,210 15,075 8,220 6,000 4,000 68,506 35,210 15,075 8,220 6.000 1,012,000 1,076,506 31,333 11,754 5,399 10,755 200 59,441 1,008,000 1,008,000 3.2 Charitsble Activities Book Stall Church and Hall letttng Fee5 from Life events Parish Magazine Car Park other Income Total charitable activities 1,121 9,230 15,662 1,121 18,295 15.662 9,065 20,167 21,362 20,262 169 46,445 20,262 169 55,510 19,171 1,793 62,457 9,065 3.3 Other Trading Activities Fundraising 11,516 11,516 4,662 3.4 Other Income 2,000 2,000 2,125 3.5 Investments Interest received 5,977 14,600 20,577 7,108 Total Income 134,444 1,031,665 1,166,109 135,793 231Page
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OF THETRUSTEES FOR THE YEAR ENDED 31sTDECEMBER 2024 Analysis of Expenditure Unaudited Total 2024 Total 2023 Unrestricted Designated Restricted 4 Expenditure 4.1 Fundraising Costs 4.2 Charitable Activities Mission & Charity giving Diocesan Share Clergy & Ministry costs Administration costs Church Running costs Church maintenance Upkeep of services Hall running costs Life event fees Depreciation Administration Costs Fairfield Centre operation 3,366 53,293 6,186 33,949 5,743 11,204 24,870 3,366 53,293 6,186 43,949 5,743 11,204 24,870 4,169 1,641 11,068 7,998 14,394 4,644 52,615 2,848 25.128 12,076 10,707 8,660 14,190 4,531 9,865 10,000 4,169 1,641 9,865 7,998 14,394 1,203 11,519 Totsl Charltsble costs 172,509 14,169 1,203 187,881 156,783 Total Expendlture 172,957 14,169 1,203 188,329 156,783 Administration costs include payment to the Auditor of £17,40012023 £150 to the independent Examiner) Staff Costs Unaudited 2023 2024 Wages and salaries Salary 26,549 25,128 The number of staff employed is 4. All are part time and no one is paid more than £60,00012023 nil) The Charity is exempt from paying Employers Nl contributions under the small business provisions. The Rector is employed by St Edmundsbury Diocese, the PCC pay her expenses incurred. The total payment to her and the 2 other non stipendiary Ministers was £5,985 No trustee has claimed out of pocket expenses although some have made purchases on behalf of the Church and submitted receipts for reimbursement.12023 nil) 241Page
THE PAROCHIAL CHURCH COUNCIL OFTHE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31sTDECEMBER 2024 Fixed asset5 Church Hall and Land Falrlleld Centre Plant & Machlnery Total CostOI.01.2024 118,890 75,243 103,748 297.881 Additions 12,030 Tolal 31.12.2024 130,920 75,243 103,748 309,911 Depreclation Depreciation 01.01.2024 79,506 39.727 83,748 202.981 Depreciation In year Depreclatlon 31.12.2024 9,563 1,505 11,068 89,069 41,232 83,748 214,049 Netbookvalue 01.01.2024 39,384 35,516 20,000 94,900 Net bookvalue 31.12.2024 41,851 34,011 20,000 95,862 Investments The investment is an account held with CCLA and revalued each year. Other surplus funds are held on various interest bearing deposit accounts. Market Value l January 2024 Net gain and revaluation Market value as at 31 December 2024 248,228 5,135 253,363 Debtors Unaudited 2023 2024 Prepayments and accrued income 114,000 Total 114,000 251Page
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31sTDECEMBER 2024 Creditors Unaudited 2023 2024 Accruals 18,200 Total 18,200 Accruals accounting has been used for the first time for 2024 a5 a result of the change in accounting rules applicable after the legacy was received. io. Related party transactlons The Trustees are all regular worshippers at the Church and as such commit regular giving to the Church. As such their giving is as Christian worshippers rather than Trustees. It is not Possible to calculate how much this totals but no individual gives more than £1,500 per year. The Charity forms part of the Diocese of St Edmundsbury and Ipswich. A charge is allocated by the Diocese to cover the costs of stipendiary Ministers and the support from the Diocese. In 2024, the allocation was £53,29312023 £52,615). In both years the share was paid in full. Church of England sets a series of charges for Weddings and funerals and part of this charge is made by the Diocese to contribute to Costs of Ministers and the balance to PCC'S to cover the cost of upkeeping the Church the services are held in. In 2024, the Church received £15,662 in Fees12023 £21,362) ii. statement of funds Unaudlted 01.01.24 Income Expendlture Galn 31.12.24 Unreslrlcted & Designated Church 128,137 134,444 172,957 5,135 94,759 Falrfield Church IDesl 17,368 17,368 Fairfield (Desl 1,288 9,065 4.169 6,184 Legacy IDesigl 1,022,600 - 10,000 1,012,600 Total 146,793 1,166,109 187,126 5,135 1,130,911 261Page
THE PAROCHIALCHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OFTHETRUSTEES FOR THE YEAR ENDED 31sTDECEMBER 2024 Restrlcted Art 452 452 Charltable Giving 6,019 6,019 Church House 3,477 3,477 Fabric 6.344 6,344 Fabrication 99,718 99,718 Glass Doors 462 462 Church Hall Ramp 12,170 1,203 10,967 Hazell Memorial Choirfund 1,420 1.420 Margaret Smith LeEacy 893 893 Margaretwilliams Legacy 5,000 5,000 Mildred Page legacy Plea5ence Partrldge Fabric legacy 108 108 170.071 170,071 Projection system 523 523 Roof 36 36 Sheila Stainton 2,7SO 2,750 Stacy Lltergical 12,378 12,378 Trinlty Chapel Altar Cloth 3,000 3,000 Vlcars and CWTrust 108 108 Youth Club 1,263 1,263 Total 326,192 1,203 324,989 Endowment Church House 23,871 23,871 Total 23,871 23,871 271Page
THE PAROCHIAL CHURCH COUNCIL OFTHE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31sYDECEMBER 2024 Total Fund5 held Total 496,856 1,166,109 188,329 -5,135 1,479,771 Income and expenditure is recorded separately for Fairfield Centre, they malntain their own fund, but this forms part of the Charity Assets. The Legacy received has been placed in a designated fijnd to be used for Church Improvements upgrades. There are numerous restricted funds which have been in plate for some time, with little or no movement. Ther Rector and senior officers are in contact with some Ex Rectors to try and build a full understanding of why this money was given and what it can be used for. 12. Reconciliation of funds Fund balances as at 31 December 2024 represented by: Unrestricted 85,035 Deslgnated Restricted 10,827 253,363 84.670 Total 95,862 253,363 1,148,746 118,2001 Flxed Asset5 Investments Current assets Current liabilities Total 17,924 18,2001 1,046,152 iio,0001 94,759 1,036,152 348,860 1,479,771 Fund balances as at 31 December 2023 represented by: Unaudited Total 94,900 248,228 153,728 496,856 Unrestricted 94,900 Designated Restricted Fixed Assets Investments Current assets Total 248,228 101,835 350,063 33,237 128,137 18,656 18,656 281Page
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 315TDECEMBER 2024 13.Reconciliation of net income/{expenditure) to net cash flow from operating activities Unaudited 2023 (20.990) 2024 Net income l(expenditure) for the reporting period (as er the statement of financial activities Ad'ustments for: De reciation char IGainsl1losses on investments Dividends and interest received (Loss}/ rofit of sale of fixed assets {Increasel/Decrease in debtors Increase/lDecreasel in creditors Net cash rovided b I (used inl o 977.780 11,068 5,135 120,577) 9,865 21,362 17,1081 1114,0001 18,200 877,606 eratin activities 3,129 291Page
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OFTHETRUSTEES FOR THE YEAR ENDED 31srDECEMBER 2024 30IPage