TREASURER’S REPORT AND ACCOUNTS
THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN BURWELL WITH ST ETHELDREDA AND THE HOLY TRINITY REACH
Trustees Report for the year ended 31[st] December 2023
Vicarage Address: The Vicarage 22 Isaacson Road Burwell Cambridge CB25 0AF Registered Charity Number: 1129567 Independent Examiner: Mr Simon Rogers 1 Pound Close Burwell Cambridge CB25 0EP Bankers: Barclays Bank plc CCLA Investment Management Ltd Leicester CBF Church of England Funds LE87 2BB 1 Angel Lane London EC4R 3AB
The parish church of St Mary the Virgin stands in a prominent position in High Street, Burwell, Cambs, CB25 0HB. It is in the Parish of Burwell with Reach, within the Fordham and Quy Deanery. St Mary’s is a very fine Perpendicular building and is Grade 1 listed. It also forms part of a conservation area. St Mary’s Church stands on a site previously occupied by an Anglo Saxon church in a conservation area at the south-western end of the village. It is part of a complex of ancient buildings including (the remains of) Burwell Castle, built by King Stephen in the C12[th] and itself on the site of a substantial Roman building, adjacent to a spring.
The Church of St Etheldreda and The Holy Trinity, Fair Green, Reach, Cambridgeshire CB25 0JD is a Grade II listed Victorian church. It occupies a prominent position on the east side of the green in the centre of the village, alongside the Village Centre and the village pub. Its Victorian architecture is completely in keeping with the overall ambience of the village.
The parishes of Burwell and Reach were combined in April 2004 to form the benefice of Burwell with Reach.
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THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN BURWELL WITH ST ETHELDREDA AND THE HOLY TRINITY REACH
Trustees Report for the year ended 31[st] December 2023
Structure Governance and Management
The PCC confirm that the annual report and examined accounts comply with the requirements of the Charities Act 2011 and the Charities SORP 2015.
Governing Document
The Parochial Church Council is a corporate body established by the Church of England and the PCC operates under the Parochial Church Council Powers Measure.
Recruitment and Appointment of PCC
The appointment of PCC members is governed by and set out in the Church Representation Rules.
Risk Management
The PCC has carried out a review of the major risks to which the charity is exposed. Where appropriate policies have been established to mitigate the risks the charity faces. These policies are periodically reviewed to ensure they continue to meet the needs of the charity.
Organisational Structure
In order to carry out its aims and objectives, the PCC sets up sub-committees, which may include other church members. Among these are groups to manage the church shop and the Guildhall.
Related Parties
St Mary’s Preservation Trust
The Preservation Trust is an independent charity, set up by the PCC in 1979 with the sole responsibility of conserving the fabric of the building of the church for the benefit of future generations. It is non-denominational and draws funds from both regular supporters and grantmaking bodies.
Feoffees
Burwell Church Lands Charity dates back to the 16th century when land was donated for the benefit of the Poor and the maintenance of the Parish Church. It now makes modest grants to assist children and young people living in Burwell to pursue their educational needs, and supports the upkeep of the Guildhall and grants the Church use of the building.
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THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN BURWELL WITH ST ETHELDREDA AND THE HOLY TRINITY REACH
Trustees Report for the year ended 31[st] December 2023
Objectives and Aims
In accordance with The PCC Powers Measure of 1956, the PCC aims to co-operate with the Vicar in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical.
Mission Statement, Achievements and Performance
Our mission statement and the achievements and performance of the parish this year may be found elsewhere in this document.
Financial Review
Unrestricted incoming resources were appreciably higher than last year at £125,263. The bulk of this income derives from the generous giving of Church members, but also benefited from a legacy from the late James Faircliffe. Resources expended of £117,762 showed a considerable increase mainly due to higher energy costs with low price electricity contracts finishing mid-year. The PCC policy of making charitable grants of ten per cent of unrestricted income was confined to regularly supported charities, and £6,375 was transferred to the restricted Mission Giving fund to support this. The net surplus on unrestricted funds was £7,126 compared to the previous year’s deficit of £2,578. Unrestricted reserves stood at £120,333 at the end of the year.
Restricted funds recorded total incoming resources including transfers of £5,849. Expenditures on the Reach re-ordering project continued during the early part of the year amounting to £52,498. Full advantage has been taken of the VAT recovery available from the Listed Places of Worship Grant Scheme. Mission giving grants were £7,274. Due to the improved economic situation, investment gains were recorded of £42,637 resulting in closing restricted reserves of £663,483.
Work on St Etheldreda’s was essentially finished during the year, and the Church has been used for regular services, demonstrating the large benefits of a warm, light and well insulated building together with new kitchen and toilet facilities all made possible by the funds provided from the generous Whitehead legacy.
In summary, although reserves are strong, it is becoming a challenge to maintain Church income at a level that does not deplete these reserves year on year. This is particularly so now that energy costs are high and we have moved into new fixed price contracts at inflated price levels.
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THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN BURWELL WITH ST ETHELDREDA AND THE HOLY TRINITY REACH
Trustees Report for the year ended 31[st] December 2023
Safeguarding Statement
The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have regard to House of Bishops’ guidance on safeguarding children and vulnerable adults).
Principal Funding Sources
The major regular source of income is charitable donations from a generous and committed congregation. Useful additional income is derived from restricted fund dividends and income from Guildhall lettings. The church shop is merely self-supporting.
Investment Policy
The PCC reserves and restricted funds are invested with the CBF Church of England Funds, and in appropriate deposit accounts which are reviewed regularly.
Reserves Policy
The PCC aims to maintain unrestricted reserves at a level of between six months and eighteen months average expenditure. At the end of 2023 unrestricted cash reserves were approximately £120,000, with annual unrestricted expenditure of £118,000.
Approved at the Parochial Church Council meeting on 20[th] March 2024
Signed:
Rev Canon Dr Eleanor Williams (Vicar)
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THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN BURWELL WITH ST ETHELDREDA AND THE HOLY TRINITY REACH
Independent Examiner’s Report on the Accounts
Responsibilities of trustees and examiner
The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011, and that an independent examination is needed.
This report on the accounts of the PCC for the year ended 31 December 2023 is in respect of an examination carried out under section 145 of the Charities Act 2011, following procedures laid down in the General Directions given by the Charity Commission. The report will state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts.
Independent examiner's statement
In connection with my examination no matter has come to my attention:
a) which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 130 of the 2011 Act, and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
b) to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed and dated:
Mr Simon Rogers 1 Pound Close Burwell, Cambridge, CB25 0EP
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Statement of Financial Activities
| Unrestricted Designated Restricted Endowment Total Prior year funds funds funds funds funds total funds |
|
|---|---|
| Incoming resources Incoming resources from generated funds Voluntary income Activities for generating funds Investment income Other voluntary income Incoming resources from charitable activities Other incoming resources Total income Resources used Grants Charitable activities Charitable activities - support costs Costs of generating funds Total expenditure Gains / losses on investment assets Net income / (expenditure) resources before transfer Transfers Gross transfers between funds - in Gross transfers between funds - out Other recognised gains / losses Net movement in funds Total funds brought forward Total funds carried forward Represented by Unrestricted General fund Reach Legacy Fund Designated Capital Expenditure Fund Restricted Bridgeman Trust Fund Building Work Fund Burwell Sunday School Fund Reach Legacy Fund St Andrew's Church Fund Youth Work and Sunday School F |
75,483 — 2,603 — 78,087 76,205 2,910 — — — 2,910 1,646 11,936 8,650 1,550 — 22,137 16,569 10,285 — 1,319 — 11,605 1,199 15,865 — — — 15,865 17,684 131 — — — 131 131 |
| 116,612 8,650 5,473 — 130,736 113,436 (99) — 7,273 — 7,174 9,186 116,138 — 55,016 — 171,154 457,574 1,676 — — — 1,676 2,178 46 — 102 — 148 128 |
|
| 117,762 — 62,391 — 180,154 469,068 — — 42,636 — 42,636 (66,585) |
|
| (1,149) 8,650 (14,281) — (6,780) (422,217) 22,000 — 6,375 — 28,375 32,235 (12,375) (10,000) (6,000) — (28,375) (32,235) |
|
| 8,475 (1,349) (13,906) — (6,780) (422,217) |
|
| 87,703 25,504 677,388 — 790,596 1,212,814 |
|
| 96,178 24,155 663,482 — 783,815 790,596 52,195 — — — 52,195 53,621 43,982 — — — 43,982 34,081 — 24,155 — — 24,155 25,504 — — 1,446 — 1,446 1,322 — — 48,673 — 48,673 47,083 — — 3,756 — 3,756 3,756 — — 289,846 — 289,846 333,046 — — 316,474 — 316,474 289,259 — — 3,284 — 3,284 2,919 |
Balance sheet
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| Class and code Description |
This year Last year |
|---|---|
| Fixed assets Audio visual equipment Kitchen equipment Reach Legacy Inc St Andrew's mission church Bridgeman trust Burwell Sunday school Total Fixed assets Current assets Barclays current account Barclays deposit account CBF deposit account Barclays current account - Bldg Floats CBF deposit account - Bldg Gift aid tax recoverable Stock - CentrePeace Accounts Receivable Total Current assets Liabilities Accounts Payable Total Liabilities Net Asset surplus(deficit) Reserves Excess / (deficit) to date Starting balances Other gains/(losses) Total Reserves Represented by funds Unrestricted Designated Restricted Total |
260 520 240 360 177,896 162,598 316,474 289,259 1,446 1,322 3,756 3,756 |
| 500,074 457,817 56,186 111,788 23,847 22,618 154,086 143,728 17,415 17,169 260 260 31,156 29,789 3,000 3,616 200 200 205 5,656 |
|
| 286,356 334,826 2,615 2,047 |
|
| 2,615 2,047 |
|
| 783,815 790,596 |
|
| (49,417) (355,631) 790,596 1,212,814 42,636 (66,585) |
|
| 783,815 790,596 96,178 87,703 24,155 25,504 663,482 677,388 |
|
| 783,815 790,596 |
Analysis of income and expenditure
| Total | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Designated | Restricted | Endowment | This year | Last year | |
| INCOME AND ENDOWMENTS | ||||||
| Incoming resources from generated funds - Voluntary income | ||||||
| Bank giving – Bldg | — | — | 1,400 | — | 1,400 | 2,570 |
| Bank giving | 40,533 | — | — | — | 40,533 | 40,412 |
| Envelope giving | 4,789 | — | — | — | 4,789 | 4,432 |
| Other planned giving | 1,270 | — | — | — | 1,270 | 1,110 |
| Plate collections | 5,351 | — | 898 | — | 6,249 | 3,875 |
| Gift aid tax recoverable – Bldg | — | — | 305 | — | 305 | 552 |
| Gift aid tax recoverable | 11,451 | — | — | — | 11,451 | 11,853 |
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| WeddingFuneral collections 231 — — — 231 169 Gift day donations — — — — — 3,530 Donations 11,857 — — — 11,857 7,699 Total 75,483 — 2,603 — 78,087 76,205 Incoming resources from generated funds - Activities for generating funds Fete proceeds 1,605 — — — 1,605 — Other fund raising events 1,305 — — — 1,305 1,646 Total 2,910 — — — 2,910 1,646 Incoming resources from generated funds - Investment income Dividends 4,862 8,650 — — 13,513 13,438 Dividends - Sunday School — — 183 — 183 64 Bank deposit interest – Bldg — — 1,367 — 1,367 386 Bank deposit interest 7,073 — — — 7,073 2,679 Total 11,936 8,650 1,550 — 22,137 16,569 Incoming resources from generated funds - Other voluntary income Youth work and outreach income — — 1,319 — 1,319 1,102 Legacies 10,056 — — — 10,056 — Wall safe 228 — — — 228 97 Total 10,285 — 1,319 — 11,605 1,199 Incoming resources from charitable activities CentrePeace takings 3,485 — — — 3,485 3,214 Guildhall lettings 8,170 — — — 8,170 8,056 WeddingFuneral fees 4,209 — — — 4,209 6,413 Total 15,865 — — — 15,865 17,684 Other incoming resources Other income 131 — — — 131 131 Total 131 — — — 131 131 |
231 — — — 231 169 — — — — — 3,530 11,857 — — — 11,857 7,699 |
|---|---|
| 15,865 — — — 15,865 17,684 131 — — — 131 131 |
|
| 131 — — — 131 131 |
|
| INCOME TOTAL | 116,612 8,650 5,473 — 130,736 113,436 |
| EXPENDITURE Grants Overseas missions Overseas relief agencies Home missions and Societies Social Support Total Charitable activities Ministry Share Clergy expenses Verger and services costs Choir and organ costs Electricity Electricity – CentrePeace Electricity – Guildhall Fuel oil and gas Gas – Guildhall Water – CentrePeace Water – Guildhall Rent – CentrePeace |
— — 1,560 — 1,560 1,500 — — 2,138 — 2,138 2,055 352 — 3,575 — 3,927 5,127 (451) — — — (451) 504 |
| (99) — 7,273 — 7,174 9,186 60,428 — — — 60,428 58,021 2,367 — — — 2,367 2,183 1,433 — — — 1,433 916 1,886 — — — 1,886 1,213 10,616 — — — 10,616 2,634 1,705 — — — 1,705 714 2,354 — — — 2,354 1,810 5,389 — — — 5,389 1,035 3,578 — — — 3,578 1,605 162 — — — 162 178 448 — — — 448 426 4,160 — — — 4,160 4,160 |
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| General rates – CentrePeace 91 — — — 91 162 Insurance 5,697 — — — 5,697 4,941 Insurance – Guildhall 900 — — — 900 900 Maintenance and cleaning 3,080 — — — 3,080 3,366 Maintenance – CentrePeace 224 — — — 224 4,395 Cleaning – Guildhall 664 — — — 664 922 Repairs and renewals 7,184 — — — 7,184 3,158 Maintenance – Guildhall 1,434 — — — 1,434 5,270 Building to serve project – Bldg — — 1,380 — 1,380 — Reach Church Re-ordering — — 52,498 — 52,498 356,469 Depreciation 380 — — — 380 380 Teaching materials — — 114 — 114 — Youth work and outreach expenses — — 1,024 — 1,024 657 Stock purchases – CentrePeace 269 — — — 269 151 Miscellaneous expenses 1,680 — — — 1,680 1,444 Sundry expenses - CentrePeace — — — — — 36 Sundry expenses – Guildhall — — — — — 420 Total 116,138 — 55,016 — 171,154 457,574 Charitable activities - Charitable activities - support costs Printing and stationery 1,632 — — — 1,632 1,566 Books and publications 43 — — — 43 611 Total 1,676 — — — 1,676 2,178 Costs of generating funds Costs of fund raising events 46 — — — 46 26 Other fund raising costs – Bldg — — 102 — 102 85 Other fund raising costs — — — — — 17 Total 46 — 102 — 148 128 |
91 — — — 91 162 5,697 — — — 5,697 4,941 900 — — — 900 900 3,080 — — — 3,080 3,366 224 — — — 224 4,395 664 — — — 664 922 7,184 — — — 7,184 3,158 1,434 — — — 1,434 5,270 — — 1,380 — 1,380 — — — 52,498 — 52,498 356,469 380 — — — 380 380 — — 114 — 114 — — — 1,024 — 1,024 657 269 — — — 269 151 1,680 — — — 1,680 1,444 — — — — — 36 — — — — — 420 |
|---|---|
| 1,676 — — — 1,676 2,178 46 — — — 46 26 — — 102 — 102 85 — — — — — 17 |
|
| 46 — 102 — 148 128 |
|
| EXPENDITURE TOTAL | 117,762 — 62,391 — 180,154 469,068 |
| GRAND TOTAL | (1,149) 8,650 (56,918) — (49,417) (355,631) |
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