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2022-12-31-accounts

Parish of Earley St Peter, Reading

Annual Report of the Parochial Church Council 2022

Background

The Parish of Earley St Peter is a Church of England parish within the Diocese of Oxford. It is part of the Reading Deanery within the Archdeaconry of Berkshire, which is overseen on a day-to-day basis by the Bishop of Reading (The Right Reverend Olivia Graham).

The Parochial Church Council (Council) is in charity law the church’s trustee body (Registered Charity No: 1128997). Its membership, powers, and operation are regulated by the Parochial Church Council (Powers) Measure 1956 and the Church Representation Rules 2020. Its principal function is to co-operate with the clergy ‘in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical’ (s2(a) of the Measure).

The Council also has trustee responsibilities for (i) St Peter’s Church Halls, Church Road, Earley RG6 1EY and (ii) 33 Clevedon Drive, Earley RG6 5XF. The Vicar and Churchwardens are trustees for (i) the site of Earley St Peter’s CE Primary School Earley RG6 1EY and (ii) 77 St Peter’s Road, Reading RG6 1PD.

This Annual Report and the attachments have been approved by the PCC to fulfil the reporting requirements of Rule M5(1) of the Church Representation Rules 2020.

Membership

PCC Membership is regulated by Rule M15 of the Church Representation Rules and in 2022 was:

Ex-officio

The Revd Dr PP Hobday (Chairman) The Revd HE Hobday

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Mr Clive Nunn

Elected members

2020-2023 Mrs Catherine Rawcliffe Mr Timothy Smith TWO casual vacancies 2021-2024 Mrs Judith Bowler Mrs Jennifer Carr Mrs Sue Manser Mrs Rosie Rogers 2022-2025 Mrs Anne Richardson Mr Clive Tillin Mr Brian Wynn ONE casual vacancy

Co-opted members

Mrs Helen Price (PCC Treasurer)

Mr Michael Chow (from December 2022)

Mrs Sarah Godwin (from December 2022)

Attending

Appointments

Trustees of The Keys Academy Trust

Until July 2022 Revd HE Hobday, a Council member, served as Trustee of The Keys Academy Trust (which covers Earley St Peter’s CE Primary School)

Local Governing Body of Earley St Peter’s CE Primary School: Nine Foundation Governors are nominated by the Trustees of the Keys Academy Trust to the Local Governing Body, in consultation with the Diocesan Board of Education and the PCC. The Governing Body and PCC believe one of these places should be available for the incumbent.

Representative to Churches Together in Earley and East Reading (CTEER): Dr Elaine Watts

Deanery Synod: All licensed clergy serve ex-officio on the Deanery Synod. Mrs Sheila Jordan is our lay representative (there are three vacant places).

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Meetings & Notable Business

The Council held eight meetings in 2022 to discharge its statutory responsibilities. The vacancy occasioned by the departure of the incumbents, Revd Dr and Revd Hobday, was the dominant theme of the year (from April onwards), along with the more normal business of overseeing church buildings, finances, worship, mission, and pastoral care. As well as the regular PCC meetings, Council members attended the Section 11 meeting in September to begin the process of seeking a new incumbent and the Section 12 meeting (in January 2023) to approve the Parish Profile and agree steps for advertising and filling the vacancy. For the writing of the Parish Profile, a separate Parish Profile group was set up, containing both Council members and representatives of the wider congregation, and this group worked together between September and December to gather information and consult widely. Our community consultation included school staff, parents and children, parishioners, hall users and others in the wider community. The draft profile was completed in December 2022.

The Annual Meetings took place on 15[th] May 2022 and Ann Sheen and Clive Nunn were re-elected as Churchwardens.

Council made grants in support of three charities: RE-Inspired (working locally to deliver RE in schools), CMS (towards Anna Sims, the missionary in Peru supported by the parish), and the Anglican Diocese of Shinyanga in Tanzania, supported through a formal link. Each charity is being given a grant of £250 a year for the period 2022-2024, plus whatever may be raised from any fundraising events that are organised to support them.

Council acted swiftly to mark the passing of Her Majesty the Queen in September 2022, staffing the church so that it could stay open for private prayer during the week before her funeral and organising a service to mourn her death and give thanks for her life of service.

As the Financial Statements show, our financial results for the year showed an improved situation, though still finely balanced. Donations, property income, and sundry fees were broadly the same, and fortunately income from the church hall returned to previous levels following the easing of Covid restrictions. We were also grateful to receive a significant legacy, which helped enormously. General expenses were much the same, but there was a significant extraordinary refurbishment cost relating to one of the properties. Overall there was a small surplus on day-to-day activities. The Parish Giving Scheme continues to flourish, and a contactless donation system is now in place for those who prefer to give in this way.

Committees

(a) Standing Committee

The Standing Committee is established under Rule M31 and ‘transact[s] the PCC’s business between meetings of the PCC.’ The Standing Committee met roughly every other month in 2022 to review upcoming Council business, plan Council agendas, and deal with any urgent or delegated business.

Membership

Ex-officio: The Revd Dr PP Hobday (Chairman) (until July 2022); Professor Ann Sheen (Churchwarden, PCC Vice-Chairman); Mr Clive Nunn (Churchwarden).

At least TWO PCC members elected by the PCC to serve for one year: Mrs HM Price (PCC Treasurer); The Revd HE Hobday (until July 2022)

Mrs Diana Lea (PCC Secretary) (from APCM 2020) attends all meetings.

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Under Rule M32, the Council may appoint Committees. These may include persons who are not PCC Members, and the minister is entitled to be an ex-officio member. No such committees are currently appointed.

Review and Preview

We were immensely sorry to say goodbye in July 2022 to Revd Dr Philip and Revd Hannah Hobday, who had served this parish with great energy and dedication since 2015, bringing new vitality to many aspects of church life and leading us with clarity and conviction through the challenges of the pandemic and multiple lockdowns. We wish them and their family every blessing in their new lives and roles in Wakefield.

The PCC and Churchwardens are hugely grateful to everyone, including the ministry team (Lay Minister Elaine Watts and Authorised Preacher Clive Tillin), the parish office team (Mary Frank and Judith Bowler), the visiting clergy who have celebrated with us, ensuring we never missed a service, and the large number of volunteers in a wide variety of roles, who have kept everything going through the vacancy and also helped in the process of seeking a new incumbent. In 2023, above all, we look forward to welcoming our new vicar (or vicars) and working with them to develop the life and mission of this church even further.

Signature

Signed ………………………………………………..

Professor Ann Sheen (Vice-Chairman)

Date………………………………

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PARISH CHURCH OF EARLEY St PETER, READING ACCOUNTS 31st DECEMBER 2022

Page 1 Parish Church of Earley St Peter, Reading Treasurer's Report For the Year ended 31st De¢ember 2022 2022 remained challenging from every perspective. even though the pandemic Bnd its associated restriction5 were, to a large extent, behind us. Our largest single financial commitment is the Diocesan Parish Share, and despite those challenges we were able to pay this in full. The 2023 commitment Is £67,472, though this will be reduced by IO% for each full month of the vacancy. This ligure again includes a lemporary redLtction of £10,000 offered by the Diocese In recognition of the diff iculties which parishe5 have faced. and this reduction has helped to Contain the10$5 we report this year. The global economy remains fragile, and we have consequently seen a decrease in the value of our Trust Funds. As meniioned last year, for thi$ 8nd other reasons, we must continue to remain cautious in uncertain times. The accounts show a loss for the year of £7,945. This includes the decrease in value of the Trust Funds of £58,506 and a legacy received of £49.069. The actual surplus on da¥-t￿daY aclivilies was £1,492. Our regular planned giving has sliÉhtly declined over the year, fundraistng activities have resumed, and we have new contactless donation facilities. This combination of factors, positive and negative, iIIu5trates that we must continue to exercise sound 5tewawd5hip of our funds and be prudent in our expenditure- excluding extraordinary items the balance is a fine one. There are many dlfficult 51tuations arwnd the world. some of which have a direct impact closef to home. When economic conditions are $0 variable it is especially 4mportant to ensure careful management of churth finances, and l am grateful to all those who help to make sure that this runs smoothly. It is a team effort. The church hall is a valuable resource, both foT our own use tn thurch activitles. and as an attraclive venue For extern31 or8anisztions. Good management of the hall facilitie5 ha5 ensured that a small loss last year as we emerged from the pandemic ha5 turned into a profit thi5 year, though of course ils benefit extends beyond financial results and into the communitv. Present challenges may continue. and, doubtle55, new challenges will arise. I remain grateful to all who have contribLSted to our finances, anil conlinue to do so, in so many different ways. Hclcn Price Treasurer

Parish Church of Earley St Petgr, R•adlng Page 2 Statemant of Flnanclal Activitie5 For the Year endÈd 31st Decèmber 2022 Not• Unr4strict•d FLbnds Rastrlctod Fund$ Endowmant Funds TOTAL FUNDS 2022 2021 INCOMING RESOURCES Incoming resources from donors 21al 128.042 128.042 84,565 Other Incomin9 resoureas 2{bl 41,885 41,885 40.515 Income from charitable and ancillary tradin9 21¢) 46,416 48,416 27,286 Income from investments 21dl 5,617 8,013 13,630 12.639 TOTAL INCOMING RESOURCES £221,960 t8.013 £229,973 £165,005 RESOURCES USED Grants 31al 3,561 3.561 916 Activitie5 directly relating to the work of the church 31bl 150,371 5,788 15e,1S9 129,970 Chijrch management znd administration 31cl 19,692 19.692 16.811 TOTAL RESOURCES USED 173,624 5.788 179,412 147.697 NETIOUTGOINGIIINCOMING RESOURCES 48,338 2.225 50,561 17.308 GAINS AND LOSSES ON INVESTMENTS Unreali$ed 125.1401 (33,3661 158,5061 62,201 Realised NET MOVEMENT IN FUNDS 23,196 131,1411 17.9451 79.509 BALANCES BROUGHT FORWARD AT 1 JANUARY 2022 698,789 332.431 1.031.220 951 711 BALAhlCES CARRIED FORWARD AT 31 DECEMBER 2022 £721,985 £301.290 £1.023,275 £1,031,220

Parlsh Chur¢h of Eadey St Peter. Readlng Page 3 Balance Sheei ai 31$t December 2022 Note 2022 2021 FIXED ASSETS Tangible fixeis assets Inveslmenl assets 41al 41bl 358,345 438,505 358.345 497,011 CURRENT ASSETS Short iemi deposits Cash al bank Taxation recoverable Other debloT5 172.646 51.520 7.859 13.268 245.093 113,620 65,391 9,041 7.039 195.091 LIABILITIES.. AMOUNTS FALLING DUE WITHIN ONE YEAR 8.496 12,054 NET CURRENT ASSETS 236,597 183,037 NET ASSETS £1.033,447 £1.038,393 FUNDS Unrestricted RestnL#e Endownent 721,985 698,789 301,290 1,023,275 332,431 1.031,220 RESERVES FOR FUTURE EXPENDITURE Churth Hall Maintenance provision 10,173 £1.033.447 7.173 £1.038.393 Approved by the Parochial Churth Council and signed on its behalf by Professor A Sheen (Vits Chaimanl Mfs H pri￿ (Treasurerl Date The notes 8tt8thed fom part of the¥e accounts

PArf$h church of Eadey St Peter, Readlng Page 4 Notes to the Flnanclal Statements for the Year ellded 31si December 2022 ACCOUNTING POLICIES The fin2n¢ial statements have been prepared in 8cuirdanr£ Krylh the Churth Accounting Regulations 2006 together￿th applicable accounting standards and Ihe charib.es SORP. The financ481 slalements have been prep8red under the h15tori￿1 c4)sl convention as modified by the annu81 revaluation af listed investments lo m8rkei value Fund$ Gèneral funds represent furyiJ5 of the PCC Ihol are no.. $ubiecl lo any restrictions regarding their use and a￿ available for application on the general purposes of the PCC. Funds designated fors parti￿lar putpose by the PCC are also unresiricled. The ar￿UnIS Indud6 all tr2ngac110ns, assets and liabilrties for the PCC Is responslble in law They do not Indude the accoun15 of church groups thai o¥%E their main affiliation lo another br￿Y or those thai a￿ Informal gaihtrrings of Church Mern￿rg. Incomlng Re$our¢es Voluntsry In¢ome and capital sources.. Collections are ￿tA)gniSed lthen ￿ceIved by or on behalf of the PCC. Planned giving receiva￿e under covenant Is recognised only vthen ￿ceived. Income Tax recover8ble on covenants or gift aid donatians is recogn15ed when the inrA>me is recA)9nised. Grants and legacie8 10 the PCC 8r8 accounted for as soon as the PCC Is notified ol its legal enlillernenl and the amount due. Funds ra15ed by the fele. 98rden party similar events are accnunted for nel of Inodental expenses. Sales of t)ooks and rnagazines from ltte church bookstall are accounted for nel of direct costs. Other ordinary income Rental inc¢rne from the ￿tting ol churth premises is recA)gnised when the ￿￿tal is due. Income from Investment5. Dividends and Inieresl are accounted for vthen receivable. T8x recoverable on such income is rerngnised In the same accounling year.

Parish Church of Earley St Peter, Readlng Page 5 Notes to the Flnanclal Statement8 for the Year ended 318t Oecember 2022 ACCOUNTING POLICIES. contlnued Resources used Gr8Trts. Gr8nis and donations are accAunled fr)rbthen paid over. or vthen 8warded. if that award creates a binding obligation on tle PCC. Activities diredly relaiin9 to the work of the Church". The diocesan Quota or parish 8hare Is at￿U￿ted for when payab￿. Flxed a$sets Consecfaied land and buildings and moveable Ghurth fiJmishings' Consecrated and benefi￿d property ￿ exduded fr￿ Ihe acuunis by $.9812llal of the Charibes Acl 1993. No value E placEd on moveab1e church fumishings held by the churchwarden5 Qn sperJal trv$t for the PCC and vthich require a faculty for disposal sino the PCC considets Ibis to be Inalienable propety All expenditure IncurrEd dunng the year on consecrated or benefite bU1￿1r￿J3 and move8ble church funishings. whether tn8tntenan￿ or Improvement. is vAitten off as expenditure in the SOFA and seperately di$dosed. Inveslrneftts.. Inve$tments are st8ted at market valuation. Current awts". Short-terrn deposits incjude cash held on deposit eilher wrth the CBF Church of Engl8nd Funds Dr ai Ihe bank. - other debtors represen15 lenatFt deposits lodged with the government deposit scheme logetherwilh letting5 income billed bul nol yet retsived and expendilure paid out in resped of future yeats.

Parfsh Church of Earley St Peter, Readlng Page 6 Notes to the Flnan¢lal Stat8monts for the Year erTrded 3151 December 2022 INCOMING RESOURCES Unrestricied Restricted Endowment Funds FU￿rtS Funds TOTAL FUNDS 2022 2021 21al Intoming resource5 from donors". Planned gi￿ng Income tax reto¥er8bla CO1￿ctionS Gifl days Legatses Organ Appeal Sundry donation8 55.114 14 085 2,513 55 114 14085 2,513 56.407 16,036 816 49,069 49.(￿9 7.261 7.261 11.306 £128,042 £128,042 £84,565 21bl Other Incomln9 resour￿. 33 Clevedon Dnve 77 St Pete￿ Road Wedcling & luneml fees InÈii Feles, b828ats, other ftsnd raising events 22,566 15,000 22,566 15.000 21 831 14.580 4.319 4.319 4.104 £41.885 £41.885 £40,515 21tl Income fram chantsble and 8ncillary It3ding" Sundries Church hall ￿ttIng Èlc fudough receipts 1.683 44.753 1.863 44.753 25.836 1.351 £27,286 £46,416 £46,416 21dl Ineome from invtslmenls. Divi¢ends and Interest Iincluéing any reclaimed tsxl 5.617 8,013 13.630 12,639 £5,617 £8.013 £13.630 £12,639 TOTAL INCOMING RESOURCES £221.960 £8.013 £229,973 £1￿.005

Parlsh Church of Earley St Peter, Readlng Page 7 Notes to the Flnan¢lal Statements fot the Year ended 31sl December 2022 RESOIJRCES USED Unrestd¢t8d Restrlcted ÉtrKlowrnont Funds Fund5 Funds TOTAL FUNDS 2022 2021 31al Grant5". Speci81 CO1￿¢110￿5 General grants Day School and youth grants 2.811 750 2.811 750 416 500 £3.561 £3,561 £918 31bl Acliviis directly relating 10 the wot of the Church". Ministry.. parish share clergy expenses otherclergy ctssts Church wnning expenses Church rnainlenance and upk&ep General expenses Upkeep of the churchyard Church hall running costs 77 Sl Pele￿ Road costs 33 Clevedon Dnve c051s Churth tnu$i¢ 65.428 238 85.428 238 63.442 11.982 11,982 11.189 4.446 1,940 4,446 1.940 5.788 37.840 4.919 880 6.040 31.134 3.454 3.756 4.207 5,788 37,840 4,724 14.222 9.551 14,222 9.551 £150,371 t5.788 £156.159 £129.970 31cl Church rnanagelnenl and administration. Admini51r8tor an Secretary Website. sialionery and telephone Profes$ion81 fees Office equipment 12.653 12.653 9.908 2.158 3.394 1.487 2.158 3.394 2,450 3,348 1,105 19,692 19.S92 16.811 TOTAL RESOURCES USED £173,624 £5 788 £179.412 £147.897

Parfsh Church ol Earfey St Petar, Reaijlng Page 8 Notes to tha Flnantial Sttsm8nts for the Year enJed 31st DeCeM￿r 2022 4. FIXED ASSETS FOR THE USE BYTHE PCC Freehold land and bulldings lal TANGIBLE FIXED ASSETS Gross book value- arigioèl o)st £ 3S8.345 The freehold land buildings umprise houses ai 33 Clevedon Or￿e and 77 Sl Peter's Road There Is no prowisiorTr for depreuation. 33 Clevedon Drnie was OfvJina11y purchased Ih the assislanee of a loan fr¢m the Church Hall funds of £26.000. This advance may be returnable 10 the Chtsfch Hall resources sheuld the property be sold The chtjrch bulldings. hall and all ¢ontents are not Ilsw as fixed assets al c05t bul botyv8en them have an insured value ef £13.520.000 Ibl INVESTMENT ASSETS InvÈ51ments held by the Central Board of Finane- Invest￿￿Thr units. C051a131 December 2022 was £168.187 Imarkel value £438.S0518nd ai 31 De￿mbar 2021 wa¥ £168.187 Imarkel value £497,0111 S. ANALYSIS OF NET ASSETS BY FUND Unrgstrlctad Funds Restricted Fund$ Endowrn&nt Funds Toki Fixed Assets and Inve5trnents Current Assets 546.768 192.885 18.4981 250 082 51,208 796,850 245.093 18.4961 10,173 £ 1,023,274 Provis￿￿ for future expenttiivre Fund balance £721,984 £ 301,290 See now 7 below for i(Jenlificaiion of funds. 6. LIA81LITIES.. AMOUNTS FALUNG DUE WITHIN ONE YEAR 2022 021 Tenant renl deposils Expenses due bul not paid al year end Eslimaied awued expenses nol yel billed 1.650 2057 4789 £ 8.498 1,650 2,353 8.051 £12.054 7. FUND DeTAILS The rtStDded fuods hawe now been used up. Movement in the incort and expenditure 8ceounl relates solely lo co1￿￿D￿$ made for specific purpases. The endowment fund cornprL%e5 the Graves Account. into￿oratIng the Hubbard bequests. Income received by the fund In ex￿39 of the ro5rs Incurred in maInta￿lling the graveyard Cèn be used for Other p8rLsh purposes. These funds ao held in the endowrnenl fund bank accounts and IncluO8d In the curfftnl v81ue cf Ihe endowment funds.

Independant Examinerfs Report to the Members of the Parochial Church Council of Earley St Peter, Readlng Page 9 This ￿POrt on the accounts of the Parochi81 Church Counol of Eadey Sl Peter, Reading for the year ended 31 Decernber 2022, as set out on oage5 1 to 8. 6 In ￿$peth o. an exarninaiiDn earried out under Regulaiion 3lcl of the Churcth Acu)unting Regulotions 200S Ilhe Regulalions'l and 5.43 of the Chantie8 Act 19931.the Arfl. Re$pÈctsve fespon81billtlos of the PCC and the examlner As members of the PCC you are responsible for the preparation of the accounts, you consider that the audit requiTrment of the Regulalion 3lcl and section 4i121 of the Act do not apply. It 15 rny responsibility to issue thi$ report on those accL)unls In aeLCTd3nCE the ieTms of Regulation 25. Basls of this report My examinalh)n was Ggrried oul In attordants wth the General Dire¢tion5 given by the Charitiy Corpmission under section 4317llbl of the Act and lo be found In the Church guidanGe. 20a6 edilion, issued by the Finènc£ Division of the Archbishops, Counol That examination incluijes a review of the ar£ounlin9 records kepl by the PCC antj a comparison of the accour.ls those record8. 113lso Includes considertng any unusual Ilems or disdosures In the accoun15 and seeking explanations from you as Iruslees cnnceming any such matters. The pr￿￿￿￿S undertaken do nat orovide all the evidence that would be rrfuired In an audit, and cons9juen￿Y I do noi expres$ an audit opinion on the view given by the aecourils. Independent examinefs statement In Gonnedion unth my examination, no matter ha8 come to my attent￿)n.. which gives rne reas¢n8bÈ Gquse to believe that In any material respect the ￿quire￿ents (al to keep 3Gts)uniing ￿Cor£S$ in acLordanee wth se¢tion 41 of the Act, an Ibl to prepare accounts vthich aurd wlh the a¢eounling records aftd comply ￿nth the requirements ofthe Act and Ihe Regulaiions have noi been mei. or lo In my opirFion, arteniion should be draum In order io enable a proper understanding of the accounts to ￿ ￿8cMed. 10 Beech Court Wokingham Roa Hutsi Berkshire v....C_L RG100RQ VERNON GOSLING FRIDAY LIMITED Chartered Certified Accountants March 2023

Parish Church of Earley St Peter, Reading Church Hall Income and Expenditure Account Forthe year ended 31st December 2022 2022 2021 INCOME Hire ¢harge5 Bank interest GovemmÈni grant 44.753 13 25,836 1,350 27,189 ÉXPENDITURE 44.766 Hall running c0518- Salanes Mainien8nce Lighl and heal Water Insuran Telephone Cleaning and security Sundry 8.942 2.520 4.569 316 2.371 1,477 14,256 389 7,834 3,662 3.070 12161 1,959 1.381 10.127 320 34,840 9.926 TRADING SURPLUS 28,137 19481 Hall maintenance provision 3,000 3,(KlO SURPLUS I IDEFICITI FOR YEAR 6.926 3,948 BALANCE SHEET AT 31 DECEMBER 2022 CUIiRENT ASSETS Cash al bank and in han Cash on deposit 3.610 29.152 32,762 6,866 39.628 8,443 18.137 26,580 3,418 29,998 Debtors LESS.. LIABILITIES Hall maintenance provision Add charge lor year 7,173 3,000 10,173 28.695 3.000 31.895 24.522 Le55 ￿fUrb1$hMenI Gost5 charyed 10 provision 10 173 2.057 12,230 Creditors 7,173 2.353 9,526 NET A8Strs £27,398 E20.472 REPRESENTED BY.. Ac¢urnul8led lund- brought for￿rd 20,472 rplii•llDof4uII fuF y•¥ 24,420 0.92e 3.94L* £27 398 £20.472