## **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. _Page 1_ ## **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. _Page 2_ ## **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. _Page 3_ ## **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) _Page 4_ ## **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 _Page 5_ ## **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** _Page 6_ |**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| _Page 7_ |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| _Page 8_ |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)| _Page 9_