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2023-12-31-accounts

NORTH END TEAM MINISTRY STATEMENT OF FINANCIAL ACTIVITIES For the Year Ended 31 December 2023

Unrestricted
Restricted
Endowment
Note
Funds
Funds
Funds
£
£
£
INCOMING RESOURCES
Voluntary income
2(a)
44,372.01
2,568.76
0.00
Activities for generating funds
2(b)
78,626.87
0.00
0.00
Investment income
2(c)
16,908.51
0.00
0.00
Incoming resources from charitable activ
2(d)
277.00
0.00
0.00
Other incoming resources
2(e)
461.89
0.00
0.00
TOTAL INCOMING RESOURCES
140,646.28
2,568.76
0.00
RESOURCES EXPENDED
Church activities
3(a)
165,584.49
11,128.12
0.00
Generation of voluntary income
3(b)
0.00
0.00
0.00
Fund raising costs
3(c)
409.45
0.00
0.00
TOTAL RESOURCES USED
165,993.94
11,128.12
0.00
NET INCOME / ( OUTGOING ) RESOURCES
(25,347.66)
(8,559.36)
0.00
Balances brought forward
958,064.90
14,607.47
0.00
Reallocation of funds
448.00
-448.00
0.00
Balances before Realised Gains
933,165.24
5,600.11
0.00
Statement of ( Losses ) / Gains
Unrealised (loss)/gain on investment
13.38
0.00
0.00
Realised Revaluation Reserve
9,587.20
0.00
0.00
Balances carried forward
942,765.82
5,600.11
0.00		 2023
2022
Restated
£
£
46,940.77
63,043.21
78,626.87
72,485.87
16,908.51
4,278.97
277.00
1,517.00
461.89
5,550.00
143,215.04
146,875.05
176,712.61
176,273.99
0.00
0.00
409.45
402.00
177,122.06
176,675.99
(33,907.02)
(29,800.94)
972,672.37
1,002,473.31
0.00
0.00
938,765.35
972,672.37
13.38
(18.33)
9,587.20
16,237.32
948,365.93
988,891.36
TOTAL FUNDS		 2023
2022
Restated
£
£
46,940.77
63,043.21
78,626.87
72,485.87
16,908.51
4,278.97
277.00
1,517.00
461.89
5,550.00
143,215.04
146,875.05
176,712.61
176,273.99
0.00
0.00
409.45
402.00
177,122.06
176,675.99
(33,907.02)
(29,800.94)
972,672.37
1,002,473.31
0.00
0.00
938,765.35
972,672.37
13.38
(18.33)
9,587.20
16,237.32
948,365.93
988,891.36
TOTAL FUNDS
0.00
972,672.37
(18.33)
16,237.32
988,891.36

The notes on pages 6 to 11 form part of these accounts.

4

NORTH END TEAM MINISTRY BALANCE SHEET AT 31 DECEMBER 2023

Note
FIXED ASSETS
Tangible Fixed Assets
5a
Investment Assets
5b
CURRENT ASSETS
Debtors
6
Cash at Bank and In Hand
7
LIABILITIES:
AMOUNTS FALLING DUE WITHIN ONE YEAR
8
NET CURRENT ASSETS
NET ASSETS
FUNDS
10
Unrestricted
Restricted
Endowment
Revaluation Reserve
11
Unrestricted
Restricted
Endowment
TOTAL FUNDS

2023
£
469,848.44
157.78
470,006.22
6,163.00
610,168.03
616,331.03
17,515.76
598,815.27
1,068,821.49
942,765.82
5,600.11
-
948,365.93
120,455.56
-
-
120,455.56
1,068,821.49		 2022
£
499,526.40
140.08
499,666.48
10,139.00
617,770.77
627,909.77
24,861.12
603,048.65
1,102,715.13		 2022
£
499,526.40
140.08
499,666.48
10,139.00
617,770.77
627,909.77
24,861.12
603,048.65
1,102,715.13
958,064.90
14,607.47
-
972,672.37
130,042.76
-
-
130,042.76
1,102,715.13		 958,064.90
14,607.47
-
972,672.37
130,042.76
-
-
130,042.76

Approved by the Parochial Church Council on ____ and signed on its behalf by :19/05/2024

Chairman :

Bryan Hackett

Team Rector

The notes on pages 6 to 11 form part of these accounts.

5

NORTH END TEAM MINISTRY NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 December 2023

1 ACCOUNTING POLICIES

The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the SORP 2005.

The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value. The Church Halls and Parish Houses, listed in note 5a, are valued on an insurance basis, modified where necessary to a fair value.

The accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members

Funds

General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated for particular purposes by the PCC are also unrestricted.

Incoming resources

Planned giving, collections and donations are recognized when received. Tax refunds are recognized when the incoming resource to which they relate is received. Grants and legacies are accounted for when the PCC is legally entitled to the amounts due. Dividends are accounted for when receivable, interest is accrued. All other income is recognised when it is receivable. All

Gains and losses on investments

Realised gains or losses are recognised when investments are sold, while unrealised gains and losses are accounted for on revaluation at 31 December.

Resources expended

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the PCC.

The diocesan parish share is an operational ( though not a legal ) liability and any unpaid amount is only show as a creditor in the Balance Sheet, after due consideration is taken of the PCC's ability to fund it out of future years resources.

6

NORTH END TEAM MINISTRY NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 December 2023

Fixed Assets

Consecrated Land and Buildings and movable Church Furnishings

Consecrated and beneficed property of any kind is excluded from the financial statements by s.96(2)(a) of the Charities Act 1993.

Movable church furnishings held by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal are accounted for as inalienable property unless consecrated. They are listed in the Church's inventory, which can be inspected ( at any reasonable time ). For inalienable property acquired prior to 1997 there is insufficient cost information available and therefore such assets are not valued in the financial statements. Items acquired since 1 January 1997 have been capitalized and depreciated in the financial statements over their currently

Other fixtures, fittings and office equipment

Equipment used within the Church premises is depreciated on a straight line basis over 3 to 10 years.

Individual items of equipment with a purchase price of £1,000 or less are written off when the asset i

Investments

Investments are valued at market value at 31 December.

Current Assets

Amounts owing to the PCC at 31 December is respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectable.

7

NORTH END TEAM MINISTRY NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 December 2023

2 INCOMING RESOURCES

Unrestricted
Restricted
Endowment
Funds
Funds
Funds
£
£
£
2 ( a ) Voluntary income
Planned giving:
Gift Aid donations
27,671.50
-
-
Income Tax recoverable
3,655.98
-
-
Other planned giving
4,292.85
-
-
Collections open plate at services
6,149.43
-
-
Donations
2,602.25
1,068.76
-
Grants
-
1,500.00
-
Legacy
-
-
-
44,372.01
2,568.76
0.00
2 ( b ) Activities for generating funds
Church hall lettings
51,693.43
-
-
Lettings Other premises
18,542.83
-
-
Fetes, bazaars, other fund-raising
events
8,390.61
-
-
Photocopies
-
-
-

78,626.87
0.00
0.00
2 ( c ) Investment income
Dividends and Interest
16,908.51
-
-
including any reclaimable tax
16,908.51
0.00
0.00
2 ( d ) Incoming resources from charitable activities
Fees
277.00
-
-
277.00
0.00
0.00
2 ( e ) Other incoming resources
Insurance claims
-
-
-

Sundry
461.89
-
-
461.89
0.00
0.00
TOTAL INCOMING RESOURCES
140,646.28
2,568.76
0.00		 2023
2022
Restated
£
£
27,671.50
25,694.58
3,655.98
12,488.31
4,292.85
2,397.50
6,149.43
6,242.98
3,671.01
5,094.84
1,500.00
-
11,125.00
46,940.77
63,043.21
51,693.43
42,774.20
18,542.83
18,880.16
8,390.61
10,831.51
-
-
78,626.87
72,485.87
16,908.51
4,278.97
16,908.51
4,278.97
277.00
1,517.00
277.00
1,517.00
-
5,550.00
461.89
-
461.89
5,550.00
143,215.04
146,875.05
TOTAL FUNDS

8

NORTH END TEAM MINISTRY NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 December 2023

3 RESOURCES USED

3
RESOURCES USED
Unrestricted
Funds
£
3 ( a ) Church activities
Missionary and charitable giving
- home missions
120.00
- secular charities
510.00
630.00
Ministry
- diocese parish share
59,325.00
- deanery
297.00
- expenses of incumbents
2,394.04
- parsonage houses
1,593.71
- other clergy
1,577.27
Church running costs
19,201.56
Church maintenance
4,395.76
Upkeep of services
5,129.02
Upeep of churchyard
210.00
Training
426.00
Hall running costs
9,667.92
Professional fees
384.00
Major repairs - structual
-
Major repairs/replacements
18,216.00
Depreciation - Parsonage Houses
16,619.92
Depreciation - Halls
11,148.04
Depreciation - equipment
1,910.00
Printing and stationery
1,447.58
Office expenses
10,519.84
Presentations
-
Sundry
491.83
165,584.49
3 ( b ) Generation of voluntary income
Stewardship Campaign
-
0.00
3 ( c ) Fund raising costs
Cost of fetes, bazaars and other fund
raising events
409.45
409.45
TOTAL RESOURCES USED
165,993.94
4
STAFF COSTS
Wages		 Restricted
Funds
£
-
0.00
0.00
-
-
-
-
-
1,500.00
-
446.12
-
-
-
-
-
9,182.00
-
-
-
-
-
-
-
11,128.12
-
0.00
-
0.00
11,128.12		 Endowment
Funds
£
-
-
0.00
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
0.00
-
0.00
-
0.00
0.00

2023
2022
Restated
£
£
120.00
255.26
510.00
-
630.00
255.26
59,325.00
59,325.00
297.00
297.00
2,394.04
2,040.05
1,593.71
1,335.11
1,577.27
1,450.00
20,701.56
14,281.97
4,395.76
2,952.25
5,575.14
4,444.98
210.00
210.00
426.00
120.00
9,667.92
6,777.55
384.00
-
-
21,288.00
27,398.00
18,116.43
16,619.92
16,619.92
11,148.04
11,148.04
1,910.00
1,910.00
1,447.58
1,676.25
10,519.84
11,152.38
-
341.97
491.83
531.83
176,712.61
176,273.99
-
-
0.00
0.00
409.45
402.00
409.45
402.00
177,122.06
176,675.99
£
£
17,540.35
15,599.15
TOTAL FUNDS
-
0.00
402.00
402.00
176,675.99		 -
0.00
402.00
402.00
£
15,599.15

The Parish employed a part time secretary and Churches cleaners, with no person earning more than £8,600 during the year. No payments were made to any member of the PCC or persons closely connected to them. Only one related party received payments which totalled £8,515.

9

NORTH END TEAM MINISTRY NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 December 2023

5
FIXED ASSETS
5a
GROSS BOOK VALUE
At 1 January 2023
Additions
Revaluation
At 31 December 2023
DEPRECIATION
At 1 January 2023
Charge for year
Backlog
At 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022		 Church Hall
£
278,701.00
-
-
278,701.00
189,516.68
11,148.04
-
200,664.72
78,036.28
89,184.32		 Parish
House
£
415,498.00
-
-
415,498.00
16,619.92
16,619.92
-
33,239.84
382,258.16
398,878.08		 Equipment
£
21,423.59
-
-
21,423.59
9,959.59
1,910.00
-
11,869.59
11,464.00
11,464.00		 Total
£
715,622.59
-
-
715,622.59
216,096.19
29,677.96
-
245,774.15
469,848.44
499,526.40

The freehold land and buildings comprise the former Scout Hut at St Marks and a house. Properties are depreciated on a straight line basis over 25 years from their incorporation into these accounts.

The gross valuation of these properties are their current estimated value for insurance purposes.This is considered to be a fair estimate of the current values of these properties.

Any changes in this valuation are show in the Revaluation Reserve, see note 10, less adjustments for the recalculation of depreciation that would have been changed in prior years.

The equipment in Churches relates to the sound system at St Francis and St Nicholas. The stair lift at St Marks and boiler at St Nicholas, which are depreciated over 10 years.

5b
Investment Assets
2023
£
CBF Church of England Investment Fund. Historical cost at 31 December 2023
157.78
was £85 (2022 £81) with 7 ( 2022, 7 ) shares.		 2022
£
140.08

10

NORTH END TEAM MINISTRY NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 December 2023

----- Start of picture text -----
6 DEBTORS 2023 2022
Restated
£ £
Income Tax Recoverable 5,300.00 9,450.00
Insurance Premium 652.00 606.00
Sundry 211.00 83.00
6,163.00 10,139.00
7 CASH AT BANK AND IN HAND 2023 2022
£ £
Deposit 482,137.14 487,615.91
Current 128,030.89 130,154.86
610,168.03 617,770.77
8 LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022
£ £
Diocese parish share 13,517.76 24,275.12
Church expenses 3,998.00 586.00
17,515.76 24,861.12
----- End of picture text -----

The outstanding Diocese parish share owed by the North End Tem Ministry relates solely to St Nicholas church.

9 ANALYSIS OF NET ASSETS BY FUND

Fixed Assets
Current Assets
Less : Current Liabilities		 Unrestricted
Funds
£
470,006.22
610,730.92
17,515.76
1,063,221.38		 Restricted
Funds
£
-
5,600.11
-
5,600.11		 Endowment
Funds
£
-
-
-
-		 Total
£
470,006.22
616,331.03
17,515.76
1,068,821.49

The Restricted Funds relate to those sums brought forwarded and received during the year, for specific purposes, with any unspent balance carried forward to the next financial year. Restricted Funds are usually held on trust in the bank accounts of the relevant church within the Parish, unless accounted for within Debtors or Creditors.

The DCCs' for each Church within North End Team Ministry may designate funds within the Unrestricted category for specific purposes. Currently there are no such funds held in separate bank accounts.

Unrestricted
Funds
£
Balance Brought Forward
130,042.76
Revaluation/(reversal)
-
Less :
Backlog Depreciation
-
Realised Element
9,587.20
Balance Carried Forward
120,455.56		 Restricted
Funds
£
-
-
-
-
-		 Endowment
Funds
£
-
-
-
-
-		 Total
2023
£
130,042.76
-
-
9,587.20
120,455.56		 Total
2022
£
56,278.08
83,351.87
6,650.13
16,237.32
130,042.76

10 REVALUATION RESERVE

11

Independent Examiner's Report to the North End Team Ministry

I report on the accounts for the year ended 31 December 2023 which are set out 4 to 11.

Respective responsibilities of the PCC and Independent Examiner

As trustees of the charity, the members of the PCC are responsible for the preparation of the accounts.

It is my responbility to

Basis of Independent Examiner's Statement

My examination was carried out in accordance with the General Directions given by the Charity

Independent Examiner's Statement

Guidance received from Portsmouth Diocese is that the whole of the proceeds from the sale of 90a Compton Road and the halls is unrestricted and the amount included in restrcted funds has been therefore released.

In connection with my examination, no other matters have come to my attention:

Philip Hobbs

Mr Philip Hobbs, ACA 50 Kenyon Road, North End, Portsmouth. PO2 0RG

2024

12

North End Team Ministry Annual Parochial Church Meeting

St Mark’s Church 19[th] May 2024

Secretary’s Report

The PCC met over the year and a variety of things were discussed.

The big topics were as usual Buildings and Finance.

Buildings from repairing stained glass windows, boilers and roofs to new halls.

Sr Teresa-Lucia: the PCC are delighted that she went forward for ordination and that she will be ordained in June.

Hall use at St Francis Hilsea was discussed as part of a project looking at community links along side the areas of Eastney and Paulsgrove.

We also had a talk by Anna Chaplaincy.

Finance Report

Parish expenditure has exceeded income by £7,602.74 leaving an end of year Parish bank accounts totalling of £610,168. Of this £5,600 is held in restricted funds.

The Parish Share: Arrears of £13,518 remain owing to the diocese from St Nicholas Church for 2023 (and further arrears from previous years).

Income for the year was £147,361 compared to £144,971 in 2023. Income has remained in line with the previous year

Expenditure was £154,963 compared to £138,930 in 2023, an increase of £16,034. 2023 parish share was £59,325 the same as 2022.

The Central Fund budget was £79,838, an increase of £971

The 2024 Parish share will be £62,291.25. The Parish budget will be £83,960 and increase of £4,155. This is made possible by limiting increases to match the real living wage, the increased parish share and a 6% rise in utilities (accepted by the PCC).

Average weekly attendance for 2023 was 86, an increase of 5.

Weekly giving required to meet the parish share for 2024 should be £13.93 per person.

Fabric Report

St Francis – noticeboard repaired, gutters and drains cleared, New boiler, radiators and pump installed, the kitchen repainted and we are still waiting on the go ahead for a new altar. Future plan is to replace the fence at the side of the church, as it has become unstable after many years.

St Nicholas – The new footpath has still to be accepted by the Council, but it is accepted by people locally that it is a far better option than the previous one. Although there is a sign saying 24 hour access required, people are still parking in front of the gates. The heating has worked perfectly through the winter and still is. Boiler has been serviced and has passed. The fire extinguishers require a 5 yearly exchange. The South porch doors are bowing due to age and have on occasion caused the alarm system to go off. The alarm system has been inspected. A modern smart meter for electricity has been fitted. The church building has come through the winter well and is still sound. Future plan is to replace the South Porch doors and a quote is awaited.

St Mark – The roof replacement to the Narthex and Lady Chapel is urgent having been waiting since 2022, waiting on faculty for the roof to be replaced. The organ has been serviced and will require significant work in the future. Discovery Nursery has needed some minor work/servicing. There has been several small works done: temporary roof repair, rewiring the parish office, gas boiler service and repair, drainpipe replaced.

Deanery Synod

Has met 3 times over the last year. The first meeting had 3 focus speakers, Brian Moles, Director of Music at St Mary’s Church speaking about the music foundation that was set up 30 years ago to support children who would not have the opportunity for musical experiences, and all the work that they do. The second speaker was Rev’d Canon Paul Gully from Farlington speaking about the work of Men’s Shed in Drayton. It was set up to deal with loneliness and provide support for mental health. The third Speaker was Rev’d Jackie Twine from St Simon’s who wanted to speak about the work that they are doing with refugees.

The second meeting had Rev'd Neil Smart speaking about the St Jude’s Solar Panel project. St Jude’s they have an Eco team and already have their bronze and silver awards. All working towards the Church of Englands aim of being net zero by 2030. Richard Sturmer spoke about the Michaelmas cohort of 2022, who were invited to consider ordination following a year of training. These are people who are self supporting. Those ordained through this route will be assistants working in collaboration with their vicar and ministry team. A diocesan environmental officer has been recently appointed. There is £30 million worth of funds for churches to tap into through the Church and Historic England. The draft budget for 2024 and the deanery plan was looked at. Large expenditure on clergy housing is required due to lack of work during the covid pandemic.

The third meeting was about good news from around the Deanery including the ministry experience scheme which encourages people aged 18-30 to spend a year in church. There are currently 6 in the diocese with hopes of expansion. Harbour Church spoke about the volunteer scheme which works with vulnerable women. Through this scheme many have now become active members in the Church. There was also a update on the Anna Chaplaincy and the work that they do to support vulnerable people.

Messy Church

There were 9 messy church sessions held at St Francis over the last year, covering a variety of themes. There is a regular core of families which includes approximately 12-15 children, although numbers have dropped recently. The planning team meet a fortnight before the session to decide on activities and food for the themes we agree. There are core of volunteers of which 4 hold Food Hygiene level 2 certificates. Most have full DBS checks or their checks are in hand. More helpers would be greatly appreciated. If you can’t

volunteer then please support us in praying for the Messy Church team, the children and their families.