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2023-12-31-accounts

THE PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ending 31[st] December 2023

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

CONTENTS

1 INTRODUCTION......................................................................................................................................................................................2
2 AIM & PURPOSE 3 OBJECTIVES & ACTIVITIES...........2
4 ACHIEVEMENTS ANDPERFORMANCE........................................................................................................................................................4
4.1 Electoral Roll Figures / Usual Sunday Attendance_.............................................................................8_
5 FINANCIALREVIEW.....................................................................................................................................................................................8
5.1 Reserves_..................................................................................................................................... 9_
5.2 Investments_................................................................................................................................9_
5.3 Risks and Uncertainties_................................................................................................................9_
6 REFERENCE ANDADMINISTRATIONDETAILS...........................................................................................................................................10
6.1 Parish Name and Location_............................................................................................................10_
6.2 Charitable Status and related trusts and organisations_....................................................................10_
6.3 PCC Members and Officers_...........................................................................................................10_
6.4 Bankers, Legal advisors & Independent Examiner_...........................................................................11_
7 STRUCTUREGOVERNANCE ANDMANAGEMENT........................................................................................................................................11
8 PUBLICBENEFIT.........................................................................................................................................................................................11
9 RESPONSIBILITIES OF THE MEMBERS OF THEPCC.................................................................................................................................12
10 TRUSTEEDECLARATION...........................................................................................................................................................................12
11. STATEMENT OF FINANCIAL ACTIVITIES......................................................................................................................................13
12. PCC BALANCESHEET..........................................................................................................................................................................14
13 INDEPENDENT EXAMINER’S REPORT TO THE PCC OF ST MATTHEW, TRIANGLE AND ALL SAINTS, IPSWICH
........................................................................................................................................................................................................................15
14. NOTES TO THE FINANCIAL STATEMENTS................................................................................................................................................16
14.1 Accounting Policies_....................................................................................................................16_
14.2 Income and Endowments_............................................................................................................19_
14.3 Expenditure_..............................................................................................................................20_
14.4 Analysis of grants to missionary societies, home mission and overseas mission................................21
14.5 Further analysis in respect of community-related grants................................................................22
14.6 Staff Costs_................................................................................................................................22_
14.7 Related Party Transactions_.........................................................................................................22_
14.8 Fixed Assets_.............................................................................................................................23_
14.9 Debtors_.................................................................................................................................... 24_
14.10 Liabilities_................................................................................................................................24_
14.11 Unrestricted Funds_....................................................................................................................25_
14.12 Restricted Funds_......................................................................................................................26_
14.13 Endowment Funds_....................................................................................................................27_
14.14 Commitments_..........................................................................................................................27_
14.15 Investments_.............................................................................................................................27_
14.16 SOFA Comparatives_..................................................................................................................28_
14.17 Balance Sheet Comparatives_......................................................................................................29_
14.18 Unrestricted Funds (prior year movements).................................................................................30
14.19 Restricted Funds (prior year movements)....................................................................................31
14.20 Endowment Funds (prior year movements).................................................................................32
14.21 Post Balance Sheet Events_........................................................................................................32_

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

1 INTRODUCTION

The aim of the report is to review the life of the parish during 2023, as well as relating the financial statements to the work and vision of St Matthew’s, Triangle and All Saints Churches with Bridge.

2 AIM & PURPOSE

3 OBJECTIVES & ACTIVITIES

St Matthew’s, Triangle and All Saints Parochial Church Council (PCC) has the responsibility of cooperating with the incumbent, the Reverend Nick Atkins, in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical (PCC Measure 1 956). The PCC is also responsible for the maintenance of the buildings of St Matthew’s Church, The Fletcher Centre, All Saints Church and church hall, the Living Water Our Parish Vision Statement:premises, and the Triangle Community Centre.

‘We are churches of all ages drawn from different nationalities and we worship and seek to minister in three very distinct areas with their different needs. As congregations we are united in proclaiming the importance of knowing Jesus Christ as our personal Lord and Saviour. We desire to deepen our faith and encourage each other in our walk of whole-life discipleship and are determined to grow to know and trust Jesus more, and to serve him together on our ‘frontlines’ (the places where we spend the majority of our time during the week). We do all this for Jesus’ glory in this part of Ipswich working where possible with fellow believers from different Christian denominations.

The Five Marks of Mission are an important statement on mission which expresses the Anglican Communion’s common commitment to, and understanding of, God’s holistic/integral mission. They are: To proclaim the Good News of the Kingdom To teach, baptise and nurture new believers To respond to human need by loving service

To seek to transform unjust structures of society

To strive to safeguard the integrity of creation and sustain and renew the life of the earth.

St Matthew’s -

“To impact lives for Jesus.”

Triangle and Living Water-

“Showing the way, telling the truth, living the life.”

All Saints -

“To know Jesus, to be like Jesus and to make him known.”

The individual mission statements are:

Our churches provide a variety of activities both to their membership and to the public community in

order Provision of public worship and HolyOpportunities for friendship, Christian support and to Communion, with age-appropriatelearning through: fulfil teaching for children and young people o Homegroups, through all-age services, Sunday school o Youth groups for children and young people, and youth groups. Also, services for o Parent & toddler groups, 2 seniors and Me o Men’ s group and ladies’ group,sy Church for families as well as services in care homes and o Other support groups including well-being & assemblies in schools, andcommunity lunches, opportunities for prayer. Christian o Events and courses to explore and deepen

our mission and vision:

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

Safeguarding

Carol Lockwood has officially assumed the position of Parish Safeguarding Officer, succeeding Helen Clark. We have every confidence that Carol will excel in her new role and continue to ensure the safety and well-being of our community. The Parish operates systems that promotes and ensures compliance with the Church of England’s and Diocese of St Edmundsbury and Ipswich, ‘a safer

church’. Creating and enhancing a safeguarding culture at all levels, ensuring that safeguarding is an integral part of all of our parish activities. As a Parish, we ensure that church members working with children, young people and vulnerable adults are appropriately DBS checked, complete mandatory safeguarding training appropriate to their specific role, receive regular additional training as well as annual safeguarding reviews. We introduced this year the requirement for all those involved in delivering the two top-up shops to complete basic safeguarding training. Safeguarding is everyone’s responsibility. This Parish recognises that the welfare, safety and protection of all children, young people and vulnerable adults is paramount and that we, as individuals, leaders and as a Parish have a duty of care to one another. As a Parish, we regularly review, assess, and update our safeguarding procedures. As a Parish we will do everything that we can to provide ‘a safe church’ in a nurturing and safe environment.

Our Parish Safeguarding Policy can be downloaded via our website:

https://www.stmatthewsipswich.org.uk/information/safeguarding/.

“Each individual member are the ‘eyes and ears of the church’, protecting and valuing all who attend our activities across the Parish. “

~~[Cite your source here.]~~

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

4 ACHIEVEMENTS AND PERFORMANCE

Summary from the Rector

Time seems to fly by really quickly and it only seems like yesterday that I wrote the brief 2022 report! Having said that, 2023 has been a year where our three churches have faithfully tried to keep eyes focussed on Jesus and God’s mission, and what he would have us do in his service and in the service of others.

I

must say a huge thank you to all those who, in whatever way, either up front or behind the scenes, enable us to keep our churches available for God’s use in services, mission, welcome, pastoral care etc. Thank you everyone and to all those who give so generously to help us pay our Parish Share and other necessary bills. In what has been a tough year financially for our nation and individually with rising bills and the cost of living increasing, we are so grateful for our three churches members generosity.

We also remember with fondness those members who have died this past year. We give thanks for their commitment to our churches and all they contributed to God’s family here in the parish.

I had the privilege of a sabbatical this autumn and Terry and I visited Jerusalem. One morning we sat with a drink on the veranda at Christchurch and overlooked the completely incredible vista of roof tops of the city which obviously included the Church of the Holy Sepulchre, the Dome of the Rock and many other amazing buildings. Two days previously we had walked the many alleyways and little passageways that seem to make up the majority of the city and its four quarters – Jewish, Armenian, Muslim and Christian. It’s very easy to get lost and wander away from where you plan to get to, even with a map!

This got me thinking of the similarities to life and to living life as a Christian as well. We live in a very multicultural and multi-faith world, and local society too. Just like the different faiths live alongside each other in Jerusalem so must we now and in the future. Respect, kindness and other fruits of the Spirit are so important as we seek to live daily for Jesus and make him known as we think missionally - seeking to see his kingdom grow.

As we found out walking the passageways in Jerusalem it is very easy to lose your way especially with all the crowds and also the voices shouting at you to buy this and that. We needed a guide or a good map. However, the view we had above the city rooftops easily enabled us to see landmarks and places we’d been, or wanted to visit – and it was so much more peaceful. This is similar to how God sees the overall picture. We have to trust him, stay close to him, and seek his guidance for life and how we live and speak for him. And live in his peace too.

As we give thanks for all that happened in 2023 as a church, we take the Psalmist’s words to heart seeking to see God’s kingdom grow in 2024. “Commit your way to the Lord; trust in him, and he will act.” (Psalm 37:5).

Rector: Revd. Canon Nick Atkins

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

Introduction

The evolving story of 2023 introduces fresh elements into our church life, expanding on the noteworthy occurrences of the previous year. The persistent conflict in Ukraine and, similarly, the ongoing situation in Gaza continue to stir our hearts, prompting us to offer both tangible and prayerful support to those affected. The challenges of rising prices and the 'cost of living crisis' have further fuelled our commitment to supporting the community through initiatives like our top-up shops. Notably, the year featured the momentous occasion of the King's Coronation, a sacred event steeped in regal tradition and cultural significance. These events shape our ongoing journey in faith, reinforcing the understanding that we are a community baptized into a life of worship, joy, and sacrifice. Our collective path involves continuous learning about God's abundant love and grace, fostering relationships, encouraging families, and cultivating a culture of integrity and honour. Recognising that our life in the Church is the life of Christ being lived through us, we acknowledge our mission to be truly fit for Christ's mission. As we navigate these endeavours, this Annual Report serves as a testimony to God's unwavering faithfulness within the communities of the Parish of St Matthew, Triangle & All Saints with Bridge.

Church Life

Triangle Church continues to be seen as an important part of the local community with lots of positive interactions. The church family continues to grow, supported by the relaunch of monthly prayer meetings and a monthly “Worship Wednesday’ service that has been launched to take place after the Top-up shop and has seen encouraging attendance. We welcomed Rev. Kiran Lotay on an extended curacy placement, and this has been a tangible blessing, particularly in enabling Lawrence to share ministerial responsibilities. We are hopeful that this placement might result in Kiran being able to stay with Triangle for a more prolonged time. The church link with Ranelagh School has strengthened with Lawrence and Kiran taking assemblies regularly.

At All Saints we have seen some congregational growth, coupled with significant growth in Sunday School and Youth attendance, a real blessing to us although it has presented us with the need to seek further helpers to enable us to cater for the demand, and we will be exploring the potential to employ a part-time youth worker in the future. Our toddler group is continuing to thrive, though we are praying for more people to help run it. It was encouraging to have seven new worship Elders commissioned in July (and one recommissioned). We have been into Handford Hall School on various occasions, taking assemblies and visiting classes, also had a visit from Springfield school year 3. In the summer we had a trip to New Wine again, this year with St Peter’s Church Stoke.

A key moment in the year was the King’s Coronation, when we had a special afternoon tea and on the Sunday a community barbecue. We were able to give away a number of special coronation gospels from Good News for Everyone (formerly the Gideons).

St Matthew’s Sunday morning numbers have remained pretty stable. The Sunday School is showing early signs of growth with two new volunteer leaders starting during the year. The Youth group has not fared so well, and we will be relaunching in a Sunday morning slot in the new year. Numbers at Messy Church are variable but there is always a really good feeling and everyone says how much they enjoy the event. On Christmas Eve we held a Messy Church Carol Service which was well attended and really enjoyed by all who were there, adults and children. Messy Meet up, held monthly after school, is great fun with refreshments, games, a time to chat, and seems very popular. This continues to build the valuable links between school and church. We continue to provide services for four residential homes on a monthly basis, and our pastoral elders work with the ministry team in visiting the house bound and sick. We have around six homegroups meeting regularly, along with a monthly Men’s breakfast meeting, the senior’s group, and our weekly evening choir. During the year we celebrated the King’s Coronation with a screening of the service and community lunch which was well attended, and held table-top sales and a quiz night in support of the Top-up shop. The Church’s Learning Community have continued to meet, monitoring our provision and exploring how further growth can be encouraged. The church was sad to say goodbye to Linda Pepper as she moved to Trimley, and to Andy Chrin at the end of his funded work with us. Conversely, we were delighted as Lorna Penaluna was ordained deacon in the summer following training within our community, and Andrew Revitt entered into fulltime study towards ordination. While we were glad Nick was able to have a sabbatical during the summer, and thankful to Ruth, Dimitri and Lorna for the efforts in filling in the rota, we were very pleased when he returned.

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

Bridge Church , 2023 saw a significant development in Bridge’s future vision and direction. In adopting a micro-communities/micro-church vision which in essence focusses on doing mission and forming church from that mission, it became clear that we were aligned with Lightwave more than we realised. Once this came to light, Lightwave accepted our request to join them and in doing so we have become a hub in their Suffolk-wide community. This means that Bridge has come under their BMO and CIO thus solving a problem and curing a few headaches! The transition process from St Matthew’s Church has involved a lot of hard work but has gone smoothly and we are now focussing on how God wants us to further the vision of creating micro-communities and micro-churches. We meet in homes on Sundays plus the Whitehouse CP School once a month. We have just launched a new website so further details of who we are and what we do can be found at https://bridgecommunities.org.uk

Community

St Matthew’s Parent/carer baby & Toddler group- Little Treasures has seen steady growth during the year with average numbers of around 18-20 per week. There has been plenty of interaction with parents and carers as we learn more about each other. Our volunteers have rallied and we have the support of some new faces who have been able to come along as required to ensure the smooth running of each session. Our highlights were the end of term party in July, with a bouncy castle and didi cars and our Christmas party with games and a visit from Father Christmas who had presents for everyone.

The Ipswich Top-Up shops scheme has continued to be a huge success all over Ipswich with at least one church in every parish in Ipswich taking this on.

(ON AVERAGE) PEOPLE St Matthew’s & Triangle have seen a real need for these Top-Up shops and ATTEND THEIR WEEKLY are now averaging around 220 people between them each week. The numbers are growing and both Top-Up shops are communities within TOP-UP SHOP. themselves, with customers coming early and staying on to chat, have a drink & be with each other. We continue to rely on the generosity of many volunteers to enable the top-up shops to operate, collecting food from supermarkets at all hours of the day, helping set up and run the shops, and running and supporting fundraising events. Grants have become essential in enabling both Top-Up shops, and co-ordination and sharing of information and support between the Top-Up shops in Ipswich is a blessing and encouragement.

Alongside the shops each week we seek to support customers in their wider needs. At St Matthews a representative from TCAS attends, providing advice and support, addressing customers’ financial and legal situations, aiding them complete forms and applications, and referring them to further support services. At Triangle they deployed a designated volunteer in a specific welfare role to support customers by signposting relevant support as required.

Attendance at the Top-up shops, and the interactions and community at each, has encouraged customers to engage with other church services & events. Triangle’s Wednesday service has been particularly successful in enabling this. The Top-Up Lunch, held once a month at St Matthews, and now renamed ‘Adore Community Lunch’, provides a free monthly meal for between 15-30 people. Both shops have run slow cooker classes, and at St Matthews an Alpha course and a regular homegroup seeking to engage top-up customers have been put on. Some top-up customers have also come along to toddler groups or Messy Church.

The Daundy Trust continues to meet needs as they arise with the limited income at its disposal.

Buildings

The parish has three community buildings alongside the church buildings: The Fletcher Centre, Living Water and the Hall attached to All Saints church. In addition, we also manage the Triangle Community Centre where Triangle church meet and local community activities are facilitated.

The Fletcher Centre has continued to support the wider community through Inspire and the church Parish Office work. Unfortunately, Perspectives have now closed their pregnancy advice service from the Fletcher Centre and they plan to review how they may be able to proceed in the future. The Seniors group and the Wednesday Homegroup members from across St Matthew’s have been able to meet regularly, with both providing great social interaction opportunities. The PCC and DCC have also met here, as does the monthly

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

men’s breakfast gathering. During the year the remodelling of the ground floor WC area was completed. Thanks is due to all current users for their patience while this work was undertaken, and also to those who donated towards this valuable refurbishment, making our facilities more accessible.

All Saints Hall: We are seeing some bookings for the hall again; we have plans to insulate it, and update the heating and kitchen to increase its appeal. Among the bookings we had a Christian dance workshop which will be repeated, and there is a regular exercise class - though this is currently held in church because of heating issues. There is also a monthly toddler group (independent of the church) that meets there.

Living Water continues to serve the community around the Dickens Road/Kelly Road area. During the year Living Water adopted a new management structure, and takings increased, as did overheads. New customers are coming along and a lot of pastoral need is being seen, with a growing overlap between the Top-up shop and Living Water customer bases.

Administration

Many people are not aware of the behind-the-scenes work that goes on in a busy parish like St. Matthew, Triangle & All Saints. Parish administration involves every aspect of church life, from creating helpful weekly newsletters to keeping track of parishioners' needs, requests, and funerals. Jackie assists with safeguarding administration among other things, and Tamisha tries to keep on top of communications. Throughout 2023, Tamisha and Jackie know that no two days are the same. The administrative team also keeps track of parish finances, the church diary, and changes in electoral roll status, as people move in and out, get married, are baptized, confirmed, and the like. They handle inquiries for general information, prayer requests, pastoral visits from the Clergy and Elders, church tours, and more daily. Our administrative staff also provide support for various ministry areas like Messy Church, Top-Up Shop, and anything else that is involved in the day-to-day life of our churches.

St Matthew’s CofE Primary School

St Matthew’s is a vibrant, multicultural school with a strong Christian ethos. Our SIAMS inspection described us as “a shining example of a church school.” We are part of the St Edmundsbury and Ipswich Diocesan Multi Academy Trust and work in partnership with 20 other church schools across Suffolk. Our curriculum reflects the needs of all pupils and helps them to lead “life in all its fullness”. We value children as individuals and aim to recognise their achievements in a wide range of areas. The provision at St Matthew’s ensures there is balance between academic and personal development. It gives equal importance to core and foundation subjects.

In October 2023 the school was inspected by Ofsted and deemed to be good in all areas and outstanding in Early Years. The report opened with the statement, “Pupils are exceptionally well cared for at this school.” It continued by stating that “many pupils make strong progress from their starting points” and it praised our inclusivity and ethos.

We were pleased to welcome Mrs Gaffney to the school in January 2024 as our new Special Educational Needs Coordinator. This is a key role and she has considerable experience of working with children with additional needs. Mrs Gaffney is busy getting to know everyone and liaising with external agencies to ensure pupils get the support and access to the services that they require. SEND remains a significant challenge for St Matthew’s, as it does in most schools across Suffolk.

Nurture and family support continue to be a priority for the school. Mrs Cameron offers the Triple P parenting programme to families. Miss Moss supports pupils with emotional needs and Mrs Dorrington, our Chaplain, promotes staff and pupil wellbeing through a carefully considered cycle of events and activities. We are also working with the DfE as part of the Ipswich Education Investment Area initiative to improve attendance rates and reduce absenteeism.

In January, Darren Gates informed staff and families that he will be leaving St Matthew’s at the end of the academic year. Having worked at the school for 22 years, the last 5 as the Headteacher, he feels that the time is right for a change. He is extremely grateful for the ongoing support from the church community and he will miss the school greatly. The Trust, is currently busy recruiting his replacement.

Please take a look at the school website to find out more. www.stmatthewsprimary.co.uk Thank you for your continued prayers for our school.

“Whatever you do, do it with all your heart” (Colossians 3:23)

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

4.1 Electoral Roll Figures / Usual Sunday Attendance


Regular Sunday Attendees 2023:		 Regular Sunday Attendees
2022:
St Matthew’s: 75 adults
8 children/youth		 72 adults
8 children/youth
Triangle: 16 adults
5 children/youth		 13 adults
1 child/youth
All Saints: 44 adults
16 children/youth		 40 adults
9 children/youth
Bridge 30 adults
6 children/youth		 35 adults
4 children/youth
Electoral Roll 2023 Electoral Roll 2022
St Matthew’s (including Bridge
church members):		 Residents: 40 Non-Residents: 120
Total: 160		 Residents: 41 Non-residents: 121
Total: 162
Triangle: Residents: 11 Non-residents: 7
Total: 18		 Residents: 12 Non-residents: 5
Total: 17
All Saints: Residents: 17 Non-residents: 32
Total: 49		 Residents: 22 Non-residents: 42
Total: 64
Total for the parish: 243 243

5 FINANCIAL REVIEW

Our primary source of income continues to remain donations and legacies. We also receive income from lettings at the Fletcher Centre, Triangle Community Centre and All Saints Church Hall and the Fletcher Centre flat. There is also some income generated from other church activities such as small fundraisers. Grant funding and customer payments for our two Top-Up shops has become a significant income but all funds are kept in restricted funds, although some monies are transferred into general funds as contribution to the maintenance and utility costs of the buildings.

As a parish we were not afforded the opportunity to apply for a waiver to the 2023 parish share as had been available in previous years. We committed to a £109,752 (compared to the £106,412 paid in 2022) apportioned across the churches according to electoral numbers and achieved this figure. However, the Diocese expressed disappointment that we hadn’t sought to meet their full request of £133,783. The 2024 parish share for the benefice is £137,479 but an application for a waiver will be submitted early in 2024 in order to seek to reach a figure that we can attain.

At St Matthew’s a budgeting process was tried out to allow overall financial performance to be tracked in a manner that enabled trustees to understand and make judgements on performance and risks. We intend continuing this into the future. Overall, with lower than expected outgoings St Matthew’s unrestricted funds rose by around £15,000, although with some generous one-off giving included this is seen as a one-off position rather than one, we can count on being repeated in future years. While Triangle ran with income and expenditure at similar levels, All Saints had to draw on restricted funds as expenditure exceeded income by around £17,000. The Fletcher Centre had a reduction in regular income as Perspectives ended their use of the building: in the shorter term there are sufficient funds held by the centre to enable it to continue to run, but there is a need to explore an alternative room hire opportunity in the longer term to enable the centre to remain sustainable.

As reported elsewhere in this report, Bridge Church has become part of Lightwave and as such no longer falls under the responsibility of the PCC. With their agreement we have continued to manage Bridge’s finances up to the end of 2023 so that this report presents their end of year position. Arrangements are in place to transfer employment contracts to Lightwave and we will be transferring their assets to Lightwave in the new year. It is intended that next year’s report will not include reference to Bridge finances other than to note the transfer of funds and assets, thus significantly impacting the overall restricted funds held by the PCC.

As the Top-up shop provision has developed, we have become reliant on grants, particularly at St Matthew’s, to provide the selection and volume of goods we do each week. The Council’s approach to grant provision has changed in the latter part of the year and we will be exploring other sources for grant income. If this is not successful, we will need to reflect on our future provision before our Top-up shop’s financial reserves are used up.

Through the summer a detailed analysis of government and charity expectations for financial controls resulting in a review of the PCC practices and the production of a new finance policy that was to be finally

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

approved at the first PCC meeting of 2024. The new PCC and St Matthew’s treasurer began working at the start of the year in partnership with the outgoing treasurer in order to complete the 2022 accounting processes. Looking forward, through the year some processes have been refined and we are seeking to employ the St Matthew’s Finance assistant to take more responsibility for completing end of year financial processes.

5.1 Reserves

It is PCC policy to maintain a balance of unrestricted funds (where possible) which equates to at least two months of general running costs, together with sufficient balances in restricted funds to enable premises to be maintained to a satisfactory condition and to enable planned parish activities and initiatives to continue for at least a further six months. The unrestricted fund reserve thresholds are monitored throughout the year.

The closing balance of unrestricted and designated funds at the year-end, excluding amounts for fixed assets, was £115,043 (£114,823:2022). The main designated funds continue to be All Saints Church and Hall running, maintenance and refurbishment, Fletcher Centre running and maintenance, and Triangle Community Centre running and maintenance.

Restricted funds presently stand at £622,943 (£596,220:2022). All Saint’s restricted funds continue to be used for the work of All Saint’s planned improvement of facilities at the church and in the church hall, although again this year, some portion of this has also been used to cover parish share and other costs. There are also restricted funds for St Matthew’s Mission, Youth, Fabric and the remainder of a legacy bequeathed to St Matthew’s Church and Fletcher Centre in 2016. Further amounts are restricted in the Bridge Church fund and the Top-Up Shop funds within St Matthew’s Church and Triangle accounts.

No new funds were created within the PCC in this financial year.

5.2 Investments

The policy of the PCC is to maximise interest by investing any surplus funds in short term cash deposits, whilst ensuring that funds are readily available when needed to meet the PCC’s monthly operating expenses. This policy has been slightly revised by the PCC within its new Finance Policy, as will be in use for 2024.

5.3 Risks and Uncertainties

Major risks to which the PCC is exposed have been reviewed and systems or procedures designed to manage those risks have been established. This is the responsibility of the PCC. A risk register is reviewed in meetings.

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

6 REFERENCE AND ADMINISTRATION DETAILS

6.1 Parish Name and Location

Parish of St Matthew, Triangle and All Saints,

6.2 Charitable Status and related trusts and organisations

6.3 PCC Members and Officers

St. Matthew’s/Triangle/All Saints St. Matthew’s/Triangle/All Saints St. Matthew’s/Triangle/All Saints St. Matthew’s/Triangle/All Saints St. Matthew’s/Triangle/All Saints St. Matthew’s/Triangle/All Saints

Rev Nick Atkins Ex-Officio St. Matthew’s
Rev Daniel Morrison Ex-Officio St. Matthew’s
Rev Ruth Best Ex-Officio St. Matthew’s
Rev Lawrence Carey Ex-Officio (Focal Minister) St. Matthew’s
Rev Dimitri Theulings Ex-Officio St. Matthew’s
Rev Kiran Lotay From 10.9.2023 Ex-Officio St. Matthew’s
Jane Cornish Ex-Officio (Assistant Pastor) All Saints
Rev Andrew Buttress Ex-Officio Bridge
Vera Evripidou Ex-Officio (Parish Warden) St Matthew's
Henry Catchpole Ex-Officio (Parish Warden) St Matthew's
Andrew Revitt Until 27.04.2023 Ex-Officio (Deanery Synod) St Matthew's
Andrew Revitt Parish Treasurer St Matthew's
Lorna Penaluna Until 30.06.2023 Ex-Officio (Deanery Synod) St Matthew's
Rev Lorna Penaluna From 1.07.2023 Ex-Officio St Matthew’s
Mark Cornish Ex-Officio (Diocesan Synod) All Saints
Jenny Haggar From 27.04.2023 Ex-Officio (Diocesan Synod) All Saints
Imogen Catchpole Parish Secretary (Elected) St Matthew's
Carol Lockwood From 27.04.2023 Parish Safeguarding (Elected St Matthew's
Helen Clarke Until 27.04.2023 Parish Safeguarding (Elected) St Matthew's
Jackie Pickering Until 27.04.2023 Elected St Matthew's
Cleo Simon-Hart Until 27.04.2023 Elected St Matthew's
Lynn Turner Elected St Matthew's
Penny Revitt From 27.04.2023 Elected St Matthew's

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

Neil Saunders From 27.04.2023 Elected St Matthew's
Amanda Langan From 27.04.2023 Elected St Matthew's
Until 31.12.2023
Val Rickett Elected All Saints
Ben Formesyn Elected All Saints
Phil Calver From 27.04.2023 Elected All Saints

Note that all Parish Wardens and Deanery Synod Members are automatically full PCC members. Other (ordinary) PCC members serve for a term of one year unless re-elected. Deanery Synod members are usually appointed for a term of three years, unless replaced mid-term.

11

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

6.4 Bankers, Legal advisors & Independent Examiner

Bankers:

Legal advisors:

Independent examiner:

7 STRUCTURE GOVERNANCE AND MANAGEMENT

Statement of PCC’s aim: We aim ‘to co-operate with the minister in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical’ (PCC Measure 1956).

8 PUBLIC BENEFIT

The members of the PCC have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

9 RESPONSIBILITIES OF THE MEMBERS OF THE PCC

Law applicable to Parochial Church Councils in England requires the members to prepare financial statements for each financial year which give a true and fair view of the Council’s financial activities during the year, and of its position at the end of the year.

In preparing financial statements giving a true and fair view, the members should follow best practice, and:

The members are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Council at any time, and which enable them to ensure the financial statements comply with applicable regulations.

Accounts are prepared on the going concern basis as the PCC have a reasonable expectation that the Churches have adequate resources to continue operating for the foreseeable future.

The members are also responsible for safeguarding the assets of the Council, and hence for taking reasonable steps for the prevention of fraud and other irregularities.

10 TRUSTEE DECLARATION

Signed for and on behalf of the Parochial Church Council on 24[th] April, 2024.

Rev. Canon Nick Atkins

Signed on: 24th April 2024

13

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

11. STATEMENT OF FINANCIAL ACTIVITIES

Notes Unrestricted Designated Restricted Endowment Total Prior year
funds funds funds funds funds total funds
£ £ £ £ £ £
Income and endowments from: 14.2
Donatons and legacies 193,046.01 6,162.08 115,631.12 - 314,839.21 296,738.34
Income from charitable actvites 2,622.32 16,935.08 26,718.11 - 46,275.51 43,830.20
Other trading actvites 270.00 9,972.00 - - 10,242.00 9,546.00
Investments 8,313.86 531.83 51.30 - 8,896.99 654.25
Other income 3,567.61 484.87 - - 4,052.48 3,483.22
Total income 207,819.80 34,085.86 142,400.53 - 384,306.19 354,252.01
Expenditure on: 14.3
Raising funds - 2,230.10 - - 2,230.10 2,234.06
Expenditure on charitable actvites 213,727.15 25,657.32 110,726.66 - 350,111.13 353,997.87
Total expenditure 213,727.15 27,887.42 110,726.66 - 352,341.23 356,231.93
Net income / (expenditure) resources before transfer -5,907.35 6,198.44 31,673.87 - 31,964.96 -1,979.92
Transfers
Gross transfers between funds - in 4,500.00 559.71 - - 5,059.71 24,194.25
Gross transfers between funds - out - - -5,059.71 - -5,059.71 -24,194.25
Other recognised gains / losses
Gains/losses on investment assets - - 108.86 52.48 161.34 -228.8
Gains on revaluaton, fxed assets, charity's own use - - - - - -
Net movement in funds -1,407.35 6,758.15 26,723.02 52.48 32,126.30 -2,208.72
Reconciliaton of funds
Total funds brought forward 37,151.87 132,033.20 596,220.29 557.86 765,963.22 768,171.94
Total funds carried forward 35,744.52 138,791.35 622,943.31 610.34 798,089.52 765,963.22

14

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

12. PCC BALANCE SHEET

12. PCC BALANCE SHEET
Notes General Designated Restricted Endowment At 31/12/2023 At 31/12/2022
£ £ £ £ £ £
Fixed assets 14.8
Tangible Assets 6,128.65 53,362.35 71,307.92 - 130,798.92 131,190.31
Investments 14.15 1 - 1,265.90 610.34 1,877.24 1,715.90
Fixed assets 6,129.65 53,362.35 72,573.82 610.34 132,676.16 132,906.21
Current assets
Debtors 14.9 12,128.50 140.04 2,764.24 - 15,032.78 17,727.16
Cash At Bank And In Hand 38,983.30 88,426.07 554,549.19 - 681,958.56 658,367.37
Current assets 51,111.80 88,566.11 557,313.43 - 696,991.34 676,094.53
Liabilites 14.10
Creditors: Amounts Falling Due In One Year 21,496.93 3,137.11 6,943.94 - 31,577.98 43,037.52
Net current assets less current liabilites 29,614.87 85,429.00 550,369.49 - 665,413.36 633,057.01
Total assets less current liabilites 35,744.52 138,791.35 622,943.31 610.34 798,089.52 765,963.22
Represented by
Unrestricted 14.11 35,744.52 - - - 35,744.52 37,151.87
Designated 14.11 138,791.35 138,791.35 132,033.20
Restricted 14.12 622,943.31 622,943.31 596,220.29
Endowment 14.13 610.34 610.34 557.86
Fund Totals 35,744.52 138,791.35 622,943.31 610.34 798,089.52 765,963.22

APPROVED BY THE PAROCHIAL CHURCH COUNCIL ON 18[th] APRIL 2024

Rev. Nick Atkins (Chairman) Signed on: 24[th] April 2024

Dr. Andrew Revitt (Treasurer)

Signed on: 24[th] April 2024

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

13 INDEPENDENT EXAMINER’S REPORT TO THE PCC OF ST MATTHEW, TRIANGLE AND ALL SAINTS, IPSWICH

I report to the charity’s trustees (who are the members of the Parochial Church Council) on my examination of the accounts of the PCC for the year ended 31 December 2023, which are set out on pages 13 to 14 and 16 to 32.

Responsibilities and basis of report

As the charity’s trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (’the Act’).

I report in respect of my examination of the charity’s accounts carried out under Section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner’s statement

The charity’s income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales (ICAEW).

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by Section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mrs H Rumsey, FCA Ensors Accountants LLP Ipswich IP1 1QJ

Signed on: 29[th] April 2024

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

14. NOTES TO THE FINANCIAL STATEMENTS

14.1 Accounting Policies

1. Basis of Preparation

The accounts have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland.

The accounts have been prepared 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 Reporting by Charities Statement of Recommended Practice applicable to charities applying FRS 102 rather than the version referred to in the regulations which has since been withdrawn.

The accounts are prepared in Sterling, which is the functional currency, Monetary amounts are stated in pounds and pence.

The PCC meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

Estimates and judgements are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no critical estimates. The property at No.2 Crescent Road, Ipswich has been professionally valued on the basis of open market value with existing use.

The accounts have been prepared on the going concern basis as the PCC have a reasonable expectation that the Churches have adequate resources to continue operating for the foreseeable future.

2. Financial Statements

The financial statements for the PCC include all amounts relating to St Matthew's Church, Triangle Church, All Saints Church, Bridge Church, The Fletcher Centre, and Triangle Community Centre on a line-by-line basis. Material internal transactions have been eliminated on aggregation, except where these represent transfers between unrestricted and restricted funds.

The PCC has one wholly owned subsidiary company, Triangle Living Water Limited. Consolidated financial statements have not been prepared since the results of the subsidiary company are not considered material to the PCC as a whole. Details of the subsidiary company's results for the year and the position at the yearend are given in the notes to the financial statements.

3. Funds

Unrestricted funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application for the general purposes of the PCC. These include any funds designated for a particular purpose by the PCC.

Restricted funds are created when grants, donations and/or other funds are received for a particular purpose (either as imposed by the donor or arising as a result of special appeals by the PCC) where the use of those funds are restricted to that purpose.

Restricted capital funds are known as endowment funds. These can be permanent endowments, where the PCC has no power to convert the capital into income, or expendable endowments, where both capital and income can be used but only for specific purposes.

The financial statements include all transactions, assets and liabilities for which the PCC can be held responsible. They do not include the accounts of church groups that owe their affiliation to another body nor those that are informal gatherings of church members.

17

PARISH OF ST MArrHEW. TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31- DECEMBER 2023 18

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

4. Income

Planned giving, collections and monetary donations are recognised in the financial statements when received. Tax refunds thereon are recognised when the income to which they relate is received.

Items donated for ad hoc mission-related fundraising appeals are recognised on sale.

Grants due to the PCC are accounted for when the PCC is legally entitled to the amounts due. This normally arises when a formal offer has been received, except where terms or conditions have still to be met. Legacies and bequests are recognised when the PCC has been notified of its legal entitlement, the receipt of the funds is probable and the amount can be measured reliably.

Rental income from the letting of church premises is accounted for on an accruals basis. Fees due to the PCC for weddings, funerals and similar services are accounted for on an event-by-event basis, when due. Dividends and interest are accounted for when receivable and the amount can be measured reliably by the PCC. Other income is recognised when received by the PCC.

5. Expenditure

Grants and donations payable by the PCC are accounted for when paid over, or when awarded and agreed, if that award or agreement creates a binding or constructive obligation on the PCC, the payment is probable and the amount due can be measured reliably.

The diocesan parish share is accounted for when due. Should subsequent payments be made by the PCC after the end of the year, identified by both the diocese and the PCC as relating to the current year, a provision for an operational (but not a legal) liability will be included in the financial statements. Other expenditure is recognised when incurred, on an accruals basis, and is accounted for gross.

6. Fixed Assets

Consecrated and benefice property is not included in the financial statements in accordance with Section 10(2) (a) and (c) of the Charities Act 2011. Movable church furnishings held by the incumbent and churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted for as inalienable property unless consecrated. No value has been placed on inalienable property acquired in past years, as there is insufficient cost information readily available, however, these are listed in the PCC's Inventory, which can be inspected at any reasonable time. All expenditure incurred during the year on consecrated or benefice buildings and on movable church furnishings is written off as incurred, unless in the case of inalienable property the individual acquisition cost is more than £1,000, in which case the policy is to capitalise such items, and to depreciate them over their currently anticipated useful lives (initially 20 years) on a straight line basis.

Other land and buildings, held by the PCC for its own purposes, are stated at cost. All maintenance costs are written off as incurred. No depreciation is provided on freehold properties since it is the PCC's policy to maintain these assets in a continual state of sound repair, and accordingly the PCC considers that any depreciation charge would be insignificant.

At each reporting date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those have suffered any impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Functional equipment purchased for use within the church premises or elsewhere by the PCC is capitalised and depreciated on a straight line basis over 3 to 5 years. Individual items of equipment with a purchase price of £1,000 or less are written off in the year of acquisition.

The PCC's investment in its subsidiary company is included at cost. Other investments held by the PCC are valued at market value at the year end. Realised gains or losses are recognized when investments are sold. Unrealised gains and losses are accounted for on revaluation of the relevant investments at the year end.

19

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

7. Cash at bank and in hand

Cash at bank and in hand includes cash and highly liquid investments.

8. Financial Instruments

Other than the fixed asset investments, the charity only has financial assets and financial liabilities that qualify as basic financial instruments, Basic financial instruments are recognized in the balance sheet when the PCC becomes party to the contractual provision of the instrument.

9. Employment benefits and termination

All employees are entitled to the pro-rate equivalent of 22 working days leave per annum., or financial recompense in respect to leave where we pay by the hour. All contracts are subject to one month’s written notice from either party.

10. Pensions

The PCC has contractual obligations to make payments to a pension scheme for its employees. Contributions are charged to the Statement of Financial Activities as they become payable.

11. Operating Leases

The rentals payable under operating leases are charged on a straight-line basis over the lease term.

20

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

14.2 Income and Endowments

Income and endowments
Donatons and legacies
0101 - Gif Aid - Bank
0110 - Gif Aid - Envelopes
0120 - Give as you earn
0201 - Other planned giving
0301 - Loose plate collectons
0402 - Gif Day
0501 - One-of Gif Aid gifs
0502 - One-of non-gif aid gifs
0550 - Donatons appeals etc
0601 - Tax recoverable on Gif Aid
0701 - Legacies
08A1 - Grants
0901 - Other funds generated
Donatons and legacies Totals
Income from charitable actvites
1101 - Fees for weddings and funerals
1230 - Church hall letngs - objectves
1270 - Church Weekend
1291 - Other income
1292 - Parent Toddler Group
Income from charitable actvites Totals
Other trading actvites
1240 - Church hall letngs - fund raising
1246 - Flat rent
Other trading actvites Totals
Investments
1001 - Dividends
1020 - Bank and building society interest
Investments Totals
Other income
1261 - Photocopy Fees
1310 - Insurance claims
1330 - Triangle Living Water (rent of
premises)
Other income Totals
Income and endowments Grand totals		 Unrestricted Designated
Restricted
Endowment
Total
this year
Total
last year
£
£
£
£
£
£
74,131.41
-
36,470.00
-
110,601.41
112,203.66
3,965.00
-
-
-
3,965.00
5,814.50
6,375.00
-
-
-
6,375.00
7,860.00
28,014.48
-
2,970.00
-
30,984.48
30,059.56
9,171.10
-
-
-
9,171.10
9,093.40
-
-
490.05
-
490.05
3,797.53
1,869.00
-
1,715.19
-
3,584.19
5,506.00
35,542.24
208.88
20,668.75
-
56,419.87
27,723.83
167.75
-
565.63
-
733.38
1,064.09
26,380.73
-
11,383.25
-
37,763.98
38,889.32
-
-
5,250.00
-
5,250.00
-
7,429.30
5,953.20
32,450.00
-
45,832.50
52,395.50
-
-
3,668.25
-
3,668.25
2,330.95
193,046.01
6,162.08
115,631.12
-
314,839.21
296,738.34
1,952.00
-
-
-
1,952.00
1,796.00
250
16,638.00
-
-
16,888.00
20,853.00
-
-
2,840.00
-
2,840.00
3,643.00
420.32 -
23,878.11
-
24,298.43
17,304.30
-
297.08
-
-
297.08
233.9
2,622.32
16,935.08
26,718.11
-
46,275.51
43,830.20
270
-
-
-
270
-
-
9,972.00
-
-
9,972.00
9,546.00
270
9,972.00
-
-
10,242.00
9,546.00
-
-
51.3
-
51.3
51.02
8,313.86
531.83
-
-
8,845.69
603.23
8,313.86
531.83
51.3 -
8,896.99
654.25
867.61
-
-
-
867.61
783.22
-
484.87
-
-
484.87
-
2,700.00
-
-
-
2,700.00
2,700.00
3,567.61
484.87
-
-
4,052.48
3,483.22
207,819.80
34,085.86
142,400.53
-
384,306.19
354,252.01

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

1 4 . 3

Expenditure

14.4 Analysis of grants to missionary societies, home mission and overseas mission.

22

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

Name Unrestricted
£
Restricted
£
2023
£
2022
£
1830 - Giving - Overseas Mission
Compassions UK 660.00 - 660.00 672.00
Christan Aid - - - 455.45
Christan Aid (Ukraine) 1,000.00 - 1,000.00 -
Open Doors (Gaza & Ukraine) 1,500.00 - 1,500.00 -
YWAM Bolivia 1,000.00 - 1,000.00 1,105.00
Kagera Diocese 500.00 490.05 990.05 3,746.00
Global Teams Internatonal - - - -
Embrace the Middle East (Israel & Gaza) 2,000.00 - 2,000.00 -
DBF for Ngara Anglican Primary school 1,000.00 - 1,000.00 -
Christan Aid (Nigeria) 500.00 - 500.00 -
Church in need in Chile 500.00 - 500.00 -
CMS - - - 1,500.00
World Vision (Ukraine) - - - 277.85
Bible Society (Bible Lands) 2,000.00 - 2,000.00 -
DEC - Turkey-Syria Earthquake - 366.50 366.50 3,049.00
Tools With A Mission 500.00 - 500.00 850.00
Sub Total Overseas Mission 11,160.00 856.55 12,016.55 11,655.30
1801 - Giving to Missionary Societes
CMS - - - 2,100.00
Open Doors 1,000.00 900.00 1,900.00 1,000.00
Project 40 Jesus Ministry - - - 550.00
Sub Total Missionary Societes 1,000.00 900.00 1,900.00 3,650.00
1850 - Home Mission
Talitha Koum - 900.00 900.00 500.00
Women's aid - - - 300.00
CYM 5,000.00 900.00 5,900.00 3,000.00
Inspire 1,000.00 - 1,000.00 1,000.00
Perspectves - - - 500.00
Selig - 900.00 900.00 500.00
TLG 1,000.00 - 1,000.00 1,050.00
CAP - - - 1,000.00
FIND - 863.63 863.63 1,614.37
7th Ipswich Brownies - - - 187.25
Dementa UK - - - 86.50
Brown Sisters 500.00 - 500.00 -
Welcome Churches 500.00 - 500.00 -
Family First - - - 500.00
Town Pastors - - - 500.00
Save the Children - 137.62 137.62 -
Benefciary to be confrmed - 2022 - - - 500.00
Sub Total Home Mission 8,000.00 3,701.25 11,701.25 11,238.12
Diferences atributed to accruals, code
redistributon to mission/community work
related expenses and further payments		 - -500.00 -500.00 -
Sub Total Home Mission (Adjusted) 8,000.00 3,201.25 11,201.25 11,238.12
GRANTS GRAND TOTAL 20,160.00 4,957.80 25,117.80 26,543.42

Each church tythes 10% of voluntary unrestricted giving to be distributed to mission and social action, with distribution determined by the District Councils of each church.

The PCC disburses funds for awarded grants soon after tithing commits are recognised and beneficiaries are agreed. However, due to transfer barriers experienced at the beneficiary’s destination, a remittance for the sum of £15,607.22 remained outstanding in last year's accounts to Global Teams International for grants awarded in 2020 (£15,341.22) and 2021 (£266). A transfer of these funds was completed during 2023.

23

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

14.5 Further analysis in respect of community-related grants.

Name Unrestricted Restricted 2023 2022
£ £ £ £
2507 - Community grants re-
distributons
St Peter's TopUp Shop - 155.00 155.00 -
St Thomas TopUp Shop - 300.00 300.00 -
St John's TopUp Shop - 318.00 318.00 -
St Mary at Stoke TopUp Shop - 264.00 264.00 -
St Mary le Tower TopUp Shop - 719.00 719.00 -
St Mathew's TopUp Shop - 264.00 264.00 -
Community hardship grants to
individuals and families		 - 2,658.28 2,658.28 10,146.81
GRANTS GRAND TOTAL - 4,678.28 4,678.28 10,146.81

14.6 Staff Costs

ff Costs
Gross salaries
Employer’s national insurance
Pension costs (see below)		 2023
2022
£
£
35,009
43,049
-
-
238
212
35,247
43,261

Jackie Pickering was the only member of the PCC remunerated. Up to the end of April 2023 she received wages as part-time parish administrator to the value of £2,139 (2022: £6,259). Jackie was replaced on the PCC from May 2023.

Ordained clergy stipends are paid directly by the Diocese and are therefore excluded from these financial statements. In addition to many unpaid volunteers, there was an average of 5 part-time employees during the year (2022: 8). At maximum value, this was equivalent to approximately 2 full-time employees (2022: 3).

The PCC made 1 termination payment in the last reporting year (2022) for a gross value of £228 but none in the current year.

Contributions to the value of £238 (2022: £212) were made to a pension scheme on behalf of employees during 2023 via auto-enrolment. Non-eligible jobholders have been given the option to enrol with the PCC’s new pension provider, Nest. To date, no employees have decided to voluntarily opt into the scheme.

No accrued holiday pay has been recognised in the financial statements for this or the last year.

14.7 Related Party Transactions

Clergy and other ministry expenses of £5,360 (2022: £4,072) may include small immaterial amounts paid to the clergy which relate to their functions as ex officio PCC members.

In addition to this however, in total, 11 trustees (2022:14) received reimbursements for expenses to the value of £19,503 (2022: £31,593) for other parish activity costs to include reimbursements for some maintenance and church/hall running costs; admin, cleaning and general office costs; small furniture and equipment items for the church office, the church and for the Top-Up Shop; music, media and IT-related items; community outreach activity costs such as the Messy Church and activities relating to the Queen’s Jubilee; educational and study resources costs; fundraising costs and community related work expenses to include replenishments to the Top-Up shops with food, sanitary items and vouchers and some permitted immediate emergency grant relief disbursements in line with grant monitoring conditions. In response to comments

24

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

from the independent examiners, during the year an account was opened specifically to support the work of the Triangle Top-up shop, thus reducing the need to reimburse shop costs to the minister.

The only PCC members, persons closely connected to them, or related parties who benefited from payments made by the PCC are noted below:

Rev. Danny Morrison is a trustee of Triangle Living Water Limited.

The PCC is significantly supported by a substantial number of unpaid volunteers who all contribute to the smooth running of our churches, community outreach initiatives and overall PCC-related management and governance.

There were no donations from related parties with conditions. The aggregate amount of donations received without conditions from PCC members was £97,756 (2022: £72,334).

14.8 Fixed Assets

Cost
At I January 2023
Additons
As at 31 December 2023
Depreciation
At I January 2023
Provided for the year
As at 31 December 2023
Net Book Value
As at 31 December 2023
As at 31 December 2022		 Freehold
Land & Buildings
£
113,363
-
113,363
-
-
-
113,363
113,363		 Fixtures
Fittings & Equipment
£
94,843
7,661
102,504
77,016
8,052
85,068
17,436
17,827		 Total
£
208,206
7,661
215,867
77,016
8,052
85,068
130,799
131,190

Included in freehold land and buildings is a property at 2 Crescent Road, Ipswich, with a net book value on 31 December 2023 of £52,363 (2022: £52,363). This property is owned by a declaration of trust between the PCC, the Girls Friendly Society and Townsend Fellowship and Ipswich Diocesan Board of Finance. The proportion owned by the PCC represents 336/900th's of the total purchase price. In the event of the sale of the property, the PCC would receive the sum of 39/90th's of the net sale proceeds. The property was professionally valued on 30 May 2018 at open market value with vacant possession at £380,000.

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

A professional valuation of the property was anticipated in 2023 but members of the PCC have deemed this no longer necessary as a sale of the Fletcher Centre premises is not anticipated in the foreseeable future.

The PCC anticipates adjustments to opening balances for historical fixtures, fittings, and equipment in the upcoming financial year.

14.9 Debtors

14.9 Debtors
Class and nominal code General Designated Restricted Endowment Total Last year
£ £ £ £ £ £
Current Assets - Debtors
6520: Income Tax Recoverable 8,788.72 - 2,175.75 - 10,964.47 12,566.97
6530: Other Debtors - - 6.21 - 6.21 777.75
6540: Prepayments and accrued income 3,026.29 61.84 135.88 - 3,224.01 3,199.38
Z05: Accounts Receivable 313.49 78.2 446.4 - 838.09 1,183.06
Total 12,128.50 140.04 2,764.24 - 15,032.78 17,727.16

14.10 Liabilities

14.10 Liabilities
Class and nominal code General Designated Restricted Endowment Total Last year
£ £ £ £ £ £
Liability - Creditors: Amounts Falling Due In One Year
6602: Accruals and deferred income 0.01 - 320 - 320.01 0.01
Z04: Accounts Payable 21,496.92 3,137.11 5,767.13 - 30,401.16 42,197.70
6699: Agency collectons - - 856.81 - 856.81 839.81
Total 21,496.93 3,137.11 6,943.94 - 31,577.98 43,037.52

26

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

14.11 Unrestricted Funds

Fund and type Fund balances Incoming Outgoing Transfers Gains and Fund balances
brought forward Resources Resources Losses Carried forward
£ £ £ £ £ £
Unrestricted
General - General fund 37,151.87 207,819.80 213,727.15 4,500.00 - 35,744.52
Sub-totals 37,151.87 207,819.80 213,727.15 4,500.00 - 35,744.52
Designated
ASREFURB - All Saints Hall Fund
Main 38,100.46 1,232.37 3,723.68 - - 35,609.15
DesBuild - Designated Building
fund 9,271.02 78.2 469.2 - - 8,880.02
DSCRTNRY - Minsters
Discretonary fund 20.00 - - - - 20.00
Fabric - St Mathew's Fabric
Fund 6,044.12 - - - - 6,044.12
FCFund - Fletcher Centre Fund 22,059.52 18,525.83 11,497.98 - - 29,087.37
Flowers - Flower Fund 298.87 208.88 - - - 507.75
LT - Litle Treasures 1,719.82 297.08 - - - 2,016.90
SMEquip - St Mathew's
Equipment Fund 1,981.71 - 999.34 - - 982.37
SMProperty - St Mathew's
Property Fund 52,363.00 - - - - 52,363.00
SMSIZEWELL - SM Sizewell 140 - - - - 140
TRTCC - Triangle Community
Centre Fund 34.68 13,743.50 11,197.22 559.71 - 3,140.67
Sub-totals 132,033.20 34,085.86 27,887.42 559.71 - 138,791.35

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

14.12 Restricted Funds

14.12 Restricted Funds
Fund and type Fund balances Incoming Outgoing Transfers Gains and Fund balances
brought Resources Resources Losses Carried
£ £ £ £ £ £
Restricted
ASFABRIC - All Saints Fabric Fund 1,942.72 51.3 - - 108.86 2,102.88
ASFUND - All Saints Fund 329,618.81 - - -4,000.00 - 325,618.81
ASHALL - All Saints Hall Fund
Other 351 - - - - 351
ASIMPRV - All Saints
Improvement Fund 137.78 - - - - 137.78
ASNEWWINE - New Wine 114.89 2,966.00 2,876.59 - - 204.3
ASSOUND - All Saints Sound
System Fund 14,361.59 - 4,787.19 - - 9,574.40
ASSUNDAY - All Saints Sunday
School Fund 165.29 - - - - 165.29
ASTODDLERS - All Saints
Toddlers Fund - 715.19 695.14 - - 20.05
ASYOUTH - All Saints Youth Fund - 100 - - - 100
ASYOUTHGRP - All Saints Youth
Group Fund 59.28 - - - - 59.28
Bells - Bell Fund 3,312.57 100 - - - 3,412.57
BRIDGE - Bridge Church 89,666.87 47,975.75 23,150.28 - - 114,492.34
Fabric - St Mathew's Fabric Fund 9,929.51 338 2,028.00 - - 8,239.51
FCFund - Fletcher Centre Fund 23,774.23 24,950.00 14,137.64 - - 34,586.59
Keyboard - Keyboard Fund 357.2 - - - - 357.2
Mission - Mission Church 16,900.40 863.63 3,305.45 - - 14,458.58
Organ - Organ Fund 297.92 108.4 216.8 - - 189.52
PA - PA Fund - 50 - - - 50
Refurb - Church Refurbishment
Fund 80.79 61.51 - - - 142.3
SMRequests - St Mathew's
Specifed Individual Requests 1,442.73 1,257.79 - - - 2,700.52
SMSpecial - St Mathew's Special
Collectons 426.75 994.17 994.17 - - 426.75
SMTopUp - St Mathew's Top-Up
Shop 5,235.43 25,501.15 20,651.48 -500 - 9,585.10
STMATTS - St Mathews Church
Projects Fund 24,127.32 - - - - 24,127.32
TRCOMMWORK - Triangle
Community Work 559.71 - - -559.71 - -
TRMEDIA - Triangle Media Fund 26.98 1,000.00 26.98 - - 1,000.00
TRPROPERTY - Triangle Property
Fund 61,000.00 - - - - 61,000.00
TRTOPUP - Triangle Top-Up Shop 10,145.19 34,562.64 36,321.48 - - 8,386.35
Youth - Parish Youth Fund 2,185.33 805 1,535.46 - - 1,454.87
Sub-totals 596,220.29 142,400.53 110,726.66 -5,059.71 108.86 622,943.31

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

14.13 Endowment Funds

Fund and type Fund balances
brought forward		 Incoming
Resource		 Outgoing
Resource		 Transfers Gains and
Losses		 Fund balances
carried forward
£ £ £ £ £ £
Endowment
ASCOOK - Mrs Cook 557.86 52.48 610.34
_ _ _
Bequest
Sub-totals 557.86 52.48 610.34

The Cook Bequest Fund is a permanent endowment fund managed by the Diocese on behalf of All Saints Church. It is represented by a holding of 27 shares in the Central Board of Finance Investment Fund. Income arising on the fund is distributed and is available for the PCC to utilise at its discretion, for the benefit of All Saints Church. It is customarily credited to the fabric fund held by All Saints Church.

14.14 Commitments

At the year-end the PCC had annual commitments under non-cancellable operating leases as below:

14.15 Investments

At Market Value
CBF Investment Fund
All Saints Fabric Fund (56 shares)
All Saints Cook Bequest Fund (27 shares)
At Cost
Shares held in Triangle Living Water Limited		 As at 31/12/2023
£
1,265.90
610.34
1.00
1,877.24		 Gains/
(Losses)
£
+108.86
+52.48
-
+161.34		 As at 31/12/2022
£
1,157.04
557.86
1.00
1,715.90

The PCC owns the entire issued share capital (1 ordinary share of £1) of its subsidiary company, Triangle Living Water Limited, a registered charity which operates from premises in Dickens Road, Ipswich, providing services to the local community, and acting as a Christian outreach centre. The most recent accounts available relate to the year ended 31 December 2022 with an income of £39,632 (2021: £43,230), expenditure of £37,993 (2021: £35,190) and closing net assets of £16,571 (2021: £14,932). All payments made on behalf of, or received from Living Water reflect under Notes 14.2 and 14.3.

14.16 SOFA Comparatives

The following schedule provides a breakdown of comparative figures for 2022 for all amounts

29

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

shown in the Statement of Financial Activities, analysed across fund types.

Parish of St Matthew, Triangle and All Saints PCC Statement of Financial Activities For the period from 01 January 2022 to 31 December 2022

Unrestricted Designated Restricted Endowment Total
funds funds funds funds funds
£ £ £ £ £
Income and endowments from:
Donatons and legacies 175,335.28 1,013.30 120,389.76 - 296,738.34
Income from charitable actvites 2,135.65 21,046.90 20,647.65 - 43,830.20
Other trading actvites - 9,546.00 - - 9,546.00
Investments 360.12 46.12 248.01 - 654.25
Other income 3,483.22 - - - 3,483.22
Total income 181,314.27 31,652.32 **141,285.42 ** - 354,252.01
Expenditure on:
Raising funds - 2,166.71 67.35 - 2,234.06
Expenditure on charitable actvites 206,093.02 31,088.19 116,816.66 - 353,997.87
Total expenditure 206,093.02 33,254.90 116,884.01 - 356,231.93
Net income / (expenditure)
resources before transfer -24,778.75 -1,602.58 24,401.41 - -1,979.92
Transfers:
Gross transfers between funds - in 20,797.99 - 3,396.26 - 24,194.25
Gross transfers between funds - out -600.00 -3,000.00 -20,594.25 - -24,194.25
Other recognised gains / losses
Gains/losses on investment assets - - -154.37 -74.43 -228.8
Net movement in funds -4,580.76 -4,602.58 7,049.05 -74.43 -2,208.72
Reconciliaton of funds
Total funds brought forward 41,732.63 136,635.78 589,171.24 632.29 768,171.94
Total funds carried forward 37,151.87 132,033.20 596,220.29 557.86 765,963.22

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

14.17 Balance Sheet Comparatives

The following schedule provides a breakdown of comparative figures for 2022 for all amounts shown in the Balance Sheet, analysed across fund types.

General
Fund		 Designated
Funds		 Restricted
Funds		 Endowment
Funds		 At 31/12/2022
£ £ £ £ £
Fixed assets
Tangible Assets - 54,361.69 76,828.62 - 131,190.31
Investments 1.00 - 1,157.04 557.86 1,715.90
Fixed assets 1.00 54,361.69 77,985.66 557.86 132,906.21
Current assets
Debtors 12,377.25 1,076.93 4,272.98 - 17,727.16
Cash At Bank And In Hand 39,905.39 80,400.94 538,061.04 - 658,367.37
Current assets 52,282.64 81,477.87 542,334.02 - 676,094.53
Liabilites
Creditors: Amounts Falling Due In One Year 15,131.77 3,806.36 24,099.39 - 43,037.52
Net current assets less current liabilites 37,150.87 77,671.51 518,234.63 - 633,057.01
Total assets less current liabilites 37,151.87 132,033.20 596,220.29 557.86 765,963.22
Represented by
Unrestricted 37,151.87 - - - 37,151.87
Designated - 132,033.20 - - 132,033.20
Restricted - - 596,220.29 - 596,220.29
Endowment - - - 557.86 557.86
Funds Total 37,151.87 132,033.20 596,220.29 557.86 765,963.22

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

14.18 Unrestricted Funds (prior year movements)

The following schedule provides a breakdown of comparative figures for 2022.

32

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

14.19 Restricted Funds (prior year movements)

The following schedule provides a breakdown of comparative figures for 2022.

33

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2023

14.20 Endowment Funds (prior year movements)

The following schedule provides a breakdown of comparative figures for 2022.

14.21 Post Balance Sheet Events

Having been part of the Parish since its inception, Bridge Church has now been adopted as part of the Diocese’ Lightwave Project. In managing the transfer of Bridge’s finances, it was decided that these would remain within the parish up to the end of the year, giving time for the transfer of employment contracts as of the start of 2024. Consequently, here we report the full year’s financial activities of Bridge as managed within the restricted fund allocated to them. All financial activities for 2024 are being managed within Lightwave and early in 2024 the majority of the funds within the Bridge restricted fund were transferred to Lightwave. Following the approval and sign off of the accounts presented here, the remaining monies within the restricted fund will be transferred to Bridge.

END OF FINANCIAL STATEMENT

34