THE ECCLESIASTICAL PARISH OF NOThINGHAM SAINT PETER AND ALL SAINTS (R•gi8tered Charity numbor. 1130298) Annual Report and Financial Statements of the Parochial Church Council for the year ended 3151 De￿mber 2023 INCUMBENT.. The Revd. Christopher D Harrison OFFICES.. St Pelerfs Centre St Peter's Square Nottingha NG12NW BANK. Naknonal Westminster Bank PIC Smith's Bank Branch South Parade Nottingham NG12JX AUDITORS.. Lemans 29 Arboretum Street Nottingham NG14JA Annual Report for 2023 The mission and ministry of both St Peter. and All Saints, churches developed in new directions in 2023, whilst consolidating existing strengths. A good number of new members joined the churches, although sadly there were several deaths and a number of other people moved away from the parish. Aim and purpose The Parochial Church Council IPCC} of the parish of Nottingham Saint Peter and All Saints has the responsibilty of working with the Rector, the Reverend Chnstopher Harrison, in promoting throughout the eccle5i8stical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. Our parish aims continued to be.. To live and proclaim the Gospel for the 2181 century in our modern, challenging and fast-developing city To develop ministry together in the city in a way that makes clear that all people are valued by God To speak out together, wherever possible, on matters ofjustice and injustice, of inclusion and exclusion. of rights and responsibilities, of integrity and transparency. Financlal Statements The PCC presents its annual report and the audited finanaal statemen1$ for the year ended 31 December 2023. The trustees have adopted the provisions of the Slatement of Recommended Practice ISORP)'A¢counting and Reporting by Charities, in preparing the annual ￿pOrt and financial statements. The financi81 statements have been prepared in accordance with the accounting policies set i)ut in the notes to the accounts and comply wrth the Charity's governing document, the Charities Act 2011 and 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 Republi¢ of Ireland published in October 2019. Constitution and prlnclpal actlvlty The PCC is a corporate body established by the Church of England and operates under the Parochial Church Councll Powers measu￿ in providing faCil￿.eS for worship and religious observance for the people of Nottingham and environs. The primary objective of PCC members is the promotion of the Gospel of our Lord Jesus Chri51 according lo the doctrines and practices of the Church of England. Day to day actlvities include.. Regular public worship open to all., Provision of sacred spxe for personal prayer and contemplation,. Pastoral work including visiting the sick and bereaved., Teaching of Christianity through sermons, courses and small groups.. Promotion of Chrislianty through the staging of events and meetings., Promotion of the whole church through engagerrEnt in activities with the wider community., Suppoi*ng the work of other churches and organisalions which use St Peterfs and All Saints, ¢hurches and associated buildings., Support of other charities in Ihe UK and overseas. Governance PCC members las trustees of the Charity) are responsible for the govemance and business affairs of the parish. The manner of their election and their duties and responsibilrties - including those of churchwardens - is sel tyjt in the Church Representation Rules 2020 and the Churchwardens Measure 2001. Lay rep￿SentativeS are elected al an Annual Parish Church Meeting {APCM} of those people on the Electoral Roll of the parish of Nottingham Saint Page 1 Peter and All Saints. In addition, a nun*er of ex-officio members - in¢luding ¢hur¢hward8ns elected at the Annual Meeting of Parishioners Iformerty Vestry Meeting) and Synod members - serve on the PCC in accordance with th8 above Rules. As the PCC has ultimate responsibility for a wrde range of matters affecting the parish, such as compliance with health and safety, disability discrimination I￿lSIatIOn and safeguarding issues, it has adopted appropriate training and procedures. These include attendan￿ al training courses. including online ones, arranged by the di￿Se and dear)ery and the dissemination of reading matter. Representatives of the PCC and others who att8ThY courses report back lo the PCC as a body. The last APCM was held in St Peters Church on 25th April 2023.Since then the PCC met four times by Zoom and once tsce lo face. Given its wde responsibilities, as well as the statutory Standing Comrnittee, the PCC establishes number of committees {see below) dealing with particular aspects of parish life, which have accountsbilty back to the PCC. PCC Membershl . 2022123 Rector (chair) A5soGiale p￿eSt Churchwardens.. St Peter's Served to 28 April 2023 APCM Revd Christopher Harrison Revd Dr Richard Dave Dorothy Mountford (L8y Ch81¢ Chigozie Nwachukvju Sorvod from 28 April 2023 APCM Revd Christopher Hanison Revd Dr Richard Dave Dorothy Mountford (Lay ChaK) Jane Henson Churchwardens.. All Saints Lorraine Smedley David Towers Lorraine Smedley David Towers Churchwardens Deanery Synod representatives (Ex- officio PCC Members) Not appointed David Towers Christopher Ward Chi ozie Nwachukwu ISI Pews Keith MountFord ISI Peler'sl David Towers (All Saints,) Elected Lay Members St Peterfs Patricia Coy Rachel Dyer-lmlliams Rob EdlIn-￿ile Resil Jarrett Cathryn Vindelis Patricia Coy Rachel DyeT-Wlliams Rob Edlin-while Resil Jarrett Cathryn Vindelis Elected Lay Members All Saints Casu81 vacency Casual vacancy Casual vacancy Casual vacancy Casual vacancy David Fine5 John 8urr (from 181 June 20231 Casual vacancy Casual vacancy C8sual vacancy Co-opted member Ros Horsley (Secretary) Peter Moore (Treasurer) Ros Horsley Peter Moore (Treasurer) PCC Secretary Rachel Dyer-williams In the period immediately prior lo each APCM, eligible parishioners on the Electoral Roll of the parish are invited to propose and second {il churchwardens.. {iil lay members of the congregation to sland for election al the APCM as PCC members In accordance with the scheme extant at the time and {iii) ltrienniallyl deanery syncmj representatives. Addilionalty, up to three other members may be co-opted by the PCC. Members of the ckrgy seNing in the parish who join the PCC hold a ficence ISS￿ by the Diocesan Bishop. Committees and Group$ The Standing Committee is the only committee required under the Church Represent8t￿n Rules 2020. It has the power to transact the business of the PCC be￿en ils meetings, subject lo any direction given by the Council. other committees include Finance.. Safeguarding", Overseas.. Site arKI Health and Safety. All have powers vested in them by the PCC and they report regularty to that body. through the Standing Committee. There are a number of other'fijnctional, groups to perform specrftc tasks, such as the Coffee Room Committee and the 'We Are One. group which works on issues of race and racism. The grassroots views of the parishioners can be heard at periodic Congregational Meetings. Page 2 ObJectlve8 and A¢tivilies The primary objectlV8 of the PCC is the promotion of the Gospel of Our Lord Jesus Christ according to the doctrines and practices of the Church of England. The PCC is Committed to enabling as many people as possible lo worship at both of the church85 within the parish and to become partof the parish community. It maintains an oveNiew of worship and otherchurch activities throughout the parish and makes suggestions on how church services can involve as many people as possible from both within and outside of the parish. The services and worship put faith into practice through prayer and scripture, music and 5acramenl. The PCC makes a positive contribuli)n to keeping its churches and churchyards open to the wder community as much as possible and focuses on many aspects of parish life that rew heavity on willing volunteers to supplenEnt paid staff. )en planning Sctivrties for the year the PCC, the Rector and Associate Priests consider the Charity Commission's guidance on public benefit and. in particular, the specffic guidance on charities for the advancement of religion. They try to enable ordinary people to live out their faith as part of the parish community through.. W0￿h1p end pTrygr le8ming about the Gosp81.' and d8veloping their faith in God through J&sus Christ. Pasto￿1 care of the parish community. Mlsslon and outre8ch worff. To facilitate this work the PCC rec&3nises that it is important that the fabric of b)th churches and the pansh centre Complex is maintsined. The parish includes a large section of the city ￿ntre and this is mosly occupied by business, commerce, education and leisure orientated organisations but, increasingly, with pockets of restdential use. Larger residential areas are in The Park and the Arboretum area around All Saints, Church, which is increasingly dominated by students. Pecple come into the parish to work, shop and spend their leisure time, the latter for most of the day and night. With the City Council promoting tourism, the parish is one that sees lots of vtsitors. St Peter's church, in particular, ha$ much to offer to tr)urisls and other visltors by virtue of its several centuries of history and Central location, and the number of visitors to the church remained strong and probably increased during 2023. The PCC offered a range of church servi￿$ in both churches over the course of the year, including a total of four Sunday servi￿$ and four midweek serV￿eS each week. Webcast services ¢ontinued to be made available online, using live streaming. oth churche5 have fine peals of bells which are normally rung regularly by their respective bands of bell ringers. The relationship with the Nottingham University Society of Change Ringers, which is based at All Saints,, is strong. as is that with the St Peter's ringers. As some members of our parish are unable to attend church due lo illness or age, clergy or aulhorised lay people normally visit them and, if requested, Celebrate communion with them either at their home or in hospital. The Coffee Room, situated on the ground floor of the St Peterfs Centre, next to St P8ter's Church, once agaln made a healthy contributron lo the parish's finances during 2023, and numbers attending were strong, especially in the latter part of the year. The Fair Trade shop adjacent to the Coffee Room is also a valued part of the ministy ofthe parish. The nvmber of people named on the joint Electoral Roll of St Peter's and All Salnts, stood at 178 on 31 December 2023 compared with the 31 December 2022 figure of 172. This nel increase of 6 people on the Roll resulted from the addth.on of 10 new members over that year and the removal of 4 names due to the unfortunate deaths of those parishioners. Page 3 Key obje¢tlv¢$ and actfvitl•s for 2023 st Peter's ¢hur¢h.' During 2023 the weekly pattem of Se￿l¢e$ remained generalty unchanged, although service now lakas place on every Sunday evening except for the occasional fifth Sunday in the month. Evensong and Compline were moved back lo Sl Peter's from A51 Saints, towards the end of the year. The ¢hurch has worked on develcping its growng dniersity in ways that enable real indusivty to be possible,. one element of this is the encouragement of relationship building through occasional parish meals after the main Sunday $ervic8. The major Heritage Project which look place in 2022 was consolidated and developed by means of continued wort wlth large groups of schoolchildren who visited St Peter's at various points in the ye¥. Discussions have taken place about a further heritage project. focussing on welcome and accessibilty, as well as fabric needs. As the socit>economic climate exp￿IenCed by many people in Nottingham deteriorated. in pa￿Cular because of higher costs offood, fuel and housing, growing numbers of those experiencing acute hardship have ￿me lo Sl Peter's in search of help 8nd support. Rough sleeping in the areas around the church has also increased, as well as the incidence of those with mental heatth needs, and St Peterfs staff and volunteers have had to respond apprcprialely to a wde range of calls upon their pastoral skills. The work of the verger team and the ministy assistsnt rernains especially inportant in this context. Sl Peter's open d¢)or policy. vthich en8bles itto relate strongly to social, emotional and spiritual need. requires considerable financial sUPPOrt in tem)s of stsffing ￿$1S, and the PCC continues lo rnake this a priorty. Once again a Chri￿ma$ breakfast for rough sleepers wa5 well attended. The St Peter's thoir continues lo make a very valuable contribution lo the worship in the parish as well as to the wder musical lrfe of Ihe cty, including the thrice yearfy Coffee Break Concerts. The musical lifè of the parish is led by a Director of Music and tsvo associate organists. each of whom contrlbutes a high level of wofessionalism lo their I￿rk. In Ihe aubjmn of 2023 Ch￿0zIe Nwachukwu of St Peter's joined the diocesan lay ministy course, which wll enable him, after the necessary training. lo become licensed as a lay minister in the parish. The weekty online Bible Study group continued lo explo￿ 8 variety of areas of S￿iptUre. Lent di￿UssiOnS on in¢hJsivity vwe well 8UPPOrted. An outreach stall. staffed by chur¢h members, welcomed p8sser&by and offered free refreshments during four weeks of the year. including the Welcome Weeks at the University of NottSngham and Nottingham Trent Universty. During the yearthe churchyard was Iransfomied by a new initiative designed to evoke the ethos of a medieval'phy5iC garden,: this involved the introduction of a wide variety of herbs, bushes, and other flowering plants. All Salnts. ehur¢h.' Sunday services at All Saints. church continued throughout the year,. these involved the moming Eucharist and a e mnlhly evening service wilh Sl Pelerfs choir lunlil December}. The Tuesday nM)ming communion service also continued. Muth work was done in the church and churchyard through the year. largely by Church members and other volunteers. A new student outreach prolecl. led by the Rev'd Anna Clarke, began in the spring of 2023. The Nottingham Enlightening Word Church continued lo worship on Sunday aftemoons and enjoyed further growth in numbers. Conversation classes designed to help people from Hong Kong lo adjust lo life In the UK ¢onlinued and also grew in numbers and were very well received by those who benefrted from them. St Gabriel's church, and Eritrean Orthodox con9regation, conlinue(I their weekly services in All Saints, on Sundays before the 10.30 am service, and a¢Jded other sessions in the churth lo their weekly programme, I Saints. hall is now let to the SFICE Foundatlon, which provides various support services to people in acute need such as the homeless, asylum seekers and others living in poverty.. these include community meals, English language classes, an(1 workshops on cooking on a low budget. SFiCE's work developed and continued to be strong in 2023. Al Saints, house continues lo be let to the Nottingham Arimathea Trustfor ils work with asylum seekeTS and refijgees, and it 13 intended lo strengthen the link5 with the parish. The pathership with Nottingham Communty Payback. an agency of the Probalion Service, enabled valuable work lo be done in thè churchyard. All Saints, also joined Imth the Gamble Street Corner Project in a scheme for growing vegetables in the churchyard, wrth the aim of making these available for those in need, for example through the work ofthe SFICE Foundation. Page 4 The p•rfsh In general.. The Ministy Assistant scheme continues, with lan Wright continuing for a second year and making a valuable contribution lo pastoral work in the parish as well as being a key member of a wide range of church activities. During 2023 the parish continued its work on developing a greater sense of inclusiveness. An important element of thls was the drawlng up of an anti-ractsm policy. The parlsh Overseas Committee again played an active role in fvnd-raising and raising awareness of intematsonal Issues, working wllh partners such as Chrisb'an Aid an¢ CMS. Donations were made to a series of charikn'es working with people in need overseas, notabty through the '.Silver Smartie$' scheme. Support was given to overseas emergency appeals. Considerable work wa5 dorle to ensure that the parish's activities and personnel remained up to date with current safeguarding requirements. Very sadly the Rev'd John Henson, a retired priest wrth pemiission to officiate and a valued member of the clergy team, died suddenty in September 2023. Another valued member of the team. the Rev'd James Saxton. stepped back from ministry in the summer. Both are deeply missed. Fund raislng Raising fvnds for the work of the church is a priority of the PCC as the MaIntenan￿refurbishMent of the church buildings arKI contributions to Parish Share continues to draw heavily on the financial resources of the parish. Investment pollcy The PCC invests any monies, considered by the Treasurer as not required for the immediate purpose of the Church, on deposit with the Church of England Deposit Fund. The indirect investments are held by the Diocese of Soulhwell and Nottingham on beha￿ of the PCC, and invested principally wth the Central Board of Finan￿ in the Investment Fund. Policy for making grants or donatlons Subject lo financial considerations, the PCC will consider making grants lo local charities which extend the mission of the church in the centre of Nottingham and the Overseas Committee will support overseas projects from funds raised. R8sgrvgs pollcy 11 is the policy of the PCC to maintain a balance on unrestricted reserves (net currenl assets) which equates to betsveen three and six n￿nthS unreslricled payments Ni a nomial year. This is equivalent to betsveen £60,000 and £120,000 and is held lo smooth out fluctuations in cash flow and cover emergency srf(ualions and meet unexpected repair cost to the church buildings which may arise from lime to time. The balance at the year*nd wa$ £150,OCKI which covers the criteria set by the PCC. Rlsk Management PCC members a¢knowledge their ultimate responsibility for the effective management of rfsk. The Tisks relate to matters affecting the parish including compliance with health and safety, disability, discrimination leglslation and safeguarding. The PCC regularly assesses all major risks to which the Council is exposed and reviews all systems and procedures. It has a Safeguarding Offi￿r who, working with the Safeguarding Committee, seeks lo ensure the establishment and proper observance of policies and procedures covering both churches in the parish in rgspecl of chIld￿n and vulnerable adults. These are reviewed annually by the PCC and relevant advice received from the Safeguarding Team of The Diocese of Southwell and Nottingham is incorporated. In recognising its responsibilities, tt)e PCC also has in place policies and procedures for the recruitment, induction and training of PCC members, paid staff and volunteers as appropriate. Work was done in 2023 to ￿VieW and update the general risk assessments for both ehurches along with the fire safety policy and the health safety policy. Page 5 Statement of the PCC membevs responsibilities regardlng financial mattev8 The PCC members are responsible for preparing the Trustees, Annual Report and the financial statements In accordance with applicable law and Uniled Kingdom Accounting Standards (United Kingdom Generally Accepted Ac¢ounting Prxticel. The law applicable to charities in England & Wales requires the PCC members to prepare financial ststements for each financial year which give a true and fair view ofthe slate of affairs of the PCC incoming resources and application of resources for that period. In preparing these financial statements. the PCC members are required lo.. select suitsble accounting policies and then apply them conSisten￿Y observe the nEth¢)d5 arml principles in the Charities SORP 2019 FRS102 make judgements and estimates that are reasonable and prudent slate whether applicable accounts'ng standards have been followed, subject lo any material departures disclosed and explained in the financial 5talemenls prepare the ffinancial statements on the going concem basls unless it is inappropriate to presume that the charity will continue in operation. The PCC members are responsible for keeping proper accounting records that disclose with reasonable accuracy * any time the financial posrtion of the PCC and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports} Regulations 2008 and the Church Accounting Regulab'ons 2006. They are also responsible for safeguarding the assets of the PCC and hence for taking reasonable steps for the prevention and detsclion of fraud and other irregularities. Finan¢es The Statement of Financial Activities for 2023 shows total income of £394,92612022-. £322,979) and total expenditure of £324,700 12022.. £352,633) resulting in an overall surplus of £70,226 12022.deficrt £29.654), a surplus on unreslricled funds of £48,062 and an inflow of restricted funds of £22,164, before the gain on the revaluation of the investments of £18,401 {2022..loss £26,196).The reserves to carry forward amounted to £598, 152 of which £153,285 relates lo endowment funds, £120.882 to restric18d fijnds and £323,985 to unrestricted. The Increase Sn the ￿$trIcted reserves arises principalty from the £14,500 injected by the DI0￿Se to support the student ministry of the Rev. Anna Clarke at All Salnts. The attendan￿ al church services has conb'nued to grow and the financial Contribution through collections. donations and gift aid has increased s￿nIfIcantty on those of 2022. Regular donations by bank standing order and the Charities Aid Foundation have continued at a level similar to 2022. Last autumn a Review of Giving was undertaken. resulting in an increase of 10% in regular donations bul the effect of this wll not be fully realised until 2024. During the year the parish was the benefciary of legacies from three estates amounting to £29,172. St Peters Trust Fund contributed £79.490 towards the riinning of the partsh, income frorn investments was £8,540 an increase of £1,879, church lettings increased by £6,285 principalty due to the use of All Saints by Sl Gabriel's Church. Income from the properties at All Saints provided a net income of £12,687. The coffee room operated for a full year and Saturday openings resurned in May, it achieved a tumover for the year of £114,330 12022.. £86,834) and after deducting staff remuneration and direct expenses a welcome surplus of £26,85812022.. £15,049) resulted, which accrues to the PCC. Having incurred deficits of £38k on unreslri¢ted funds in the years to December 2022 and with the draft budget for 2023 reflecting a potential defiGit of £40k a review of expenditure was undertaken and il was decided to suspend Ihe charitable donations of £10k and reduce the payment for Parish Share from £72k as requested by the Diocese by £30k.In the outturn expenses have generally risen by the level of inflation a5 anticipated except for insurance £14,632 an increase of 16Yo and utilty costs, as mentioned last year due principally to the conclusion of three 3 and 4 year fixed term contracts for electricity the cost of which for the churches and the Centre was £29,249 an increase of 1 OOQ/o on 2022 costs. Al the end of the year the investments stood at £214,398 (2022.. £195,997). Page 6 Plans for the future Current priorities include the following= to continue planning for the forthcoming interregnum and the appointment of a new Rector to maintain the parish's response to acute pastoral and community need to su¥tsin the rough 51eepers' drop in al St Pete¢s which has now resumed lo keep the fabric of the churches in good order, including a possible new heritage project 8t St Pete¢s lo keep the finances of the parish secure and sustainable lo continue to priorilise a ministry of welcome lo newcomers at both churches to maintain and develop relalK)nships wth St Gabriel's church and the Nottingham Enlightening Word Church at All Saints. to develop relationships with the Nottingham Arimathea Trust at All Saints, to support and sustain the ministry to students al All Saints, to work further on issues of indusivity, especially race and racism and to reswnd to opportunities made possible by the Church of England's new Prayers of Love and Faith Declaration of acceptance: Prepared by and signed on behalf of the Trustees on 4 April 2024 Revd Christopher Harrison {Rectorj Rac er Williams IPCC Secretary) P8ge 7 PARISH OF NorriNGHAM SAINT PETER AND ALL SAINTS Ststsmont of flnanclal actlvltigs for the ye¥T trnded 31 De¢ember 2023 Unrestricted Funds Re8trtcted Fundi Endowm$nt Fund8 Totsl funds 2023 2022 Income and endowments from: Donat*)ns and legac￿$ Income from charitable a¢tivilies Othèr trading activitiÈs Investments Olher Income 21a) 136,657 19.945 156,602 126.047 2{bl 2{cl 2{dl 2(01 13,694 116,253 25.358 13,694 116,253 27,383 80,994 9.917 87,834 22.648 76.533 2,025 12,010 T¢￿81 incom• and ondowmènts 360,946 33,980 394.926 322,979 Expenditure on.. Cos15 of raising fijnds Expenditure on charrt*le acIN￿8s 31al 87.472 87.472 31bl 225.412 11,816 237.228 280,593 Total expendlture 312.884 11.816 324.700 352,633 Net incomellexpenditurel before gain$ on investment ￿*¢8 48,062 22.164 70.228 129.6541 Gain$l(LO￿￿) on investment assets 5.256 13,1 18.401 126,19SI Net Incomellexpendlture) 48,OS2 27.420 13.145 88,627 (55,8501 Net Movement In fvnds Balances brought forward al 1 January 2023 275,923 93,462 140.140 509.525 ,375 Balancos carrl•d fovNard at 31 DO¢¢m￿r 2023 323,￿5 120.882 153.285 598,152 509,525 Th8 notès on PBges 10 to 20 form part ofthese acts￿nts. P8ge 8 PARISH OF NOTTINGHAM SAINT PETER AND ALL SAINTS Balance sheet at 31 December 2023 2023 2022 Flxod Assets Tangible fixed assets Inv8stm8nt assèts Investment propethes 5a 5b 10 214,398 475,OtrJ 10 195,997 475,000 689,408 671,C()7 Curront awts Debtors Invegtm&nts- short tèm dèposits Cash at bank and in hand 58,041 58.719 109.788 32,401 56,143 68,208 226,548 156,752 Liabilities: #mounts falllng due.. wilhin one year 10 {17,804) 118.234> Net current assets 208,744 138.518 Total assets less current Ilabllltlgs 898,152 809,525 Creditors omounl$ falllng due after c￿e year 12 13W,OWI I3￿).000) Total N•tAssgts 59B.152 509,525 Parish fvnd# Unrestricted Reslricled Pemianent endo￿nent 323.985 120.882 153,285 275,923 93,462 140,140 598.152 509,525 Approved by thè PCC on 4 April 2024 and signed on its behalf by.. JL_r Revd C D Harris( Chalnnan P R Moore Treasurer The notes on pages 10 to 20 fom) part ofth8se accounts. Page 9 PARISH OF NOTTINQHAM SAINT PETER AND ALL SAINTS Notès fomilng part of th• financlal 8tatern¢nts for the year ended 31 December 2023 Aceaunting pollcles Tho PCC ￿nstituteS a public benèfft entty as defined by FRS102. The finan¢Aal statements have been prepared Sn accordance wf(h Accounting and ReportlTIg by Charities.. St8tement of Rgcommended Practice appticable to chartties preparing their a¢￿Unts in acLordancè with the Finanual Reporting Standard applicable in the UKand Republicof Ireland issued in Oclober2019, the Financial Reportin9 Standard applicable in the UnitÈd Kingdom and Republic of Iweland {FRS102}, the Chariles Act 2011. the Church Accounting IATllendmenti Regulathons 2￿6 and UK Generally Accgpted Practice. The finanual st8tements have been prepa￿d to give a'true and f8irf view and have departed from the Charitrgs (Attounls and Reports) Regulaliony 2008 only to the extent required lo provide a Yrue and fair vi9￿. Thi5 departur8 has involved following the Ac¢ounting and Reporting by c￿TIll¢s.. Statement of Re¢omm8nded Practice applicable io chariles preparing their a¢counts in aCcC￿￿an¢e￿th th8 Financial Reporting Stsnd8rd applirable in the UK and Republicof Ireland issued in October 2019 rather than the Accounting and Reporting by Charities= Ststem8nt of RecJ)rnmended Pra¢tieè effective from 1 April 2C4)5 whith has sI￿e been withdrawn. The Signif￿nI accounting pdioes applied in the preparation of these financ4al ststements are set out below. ThÈso poI￿leS havè beèn consistenly applied to all years presented unless olherwiso staled. The fjnancial statements havg b¢en p￿pared under the historul cost convention, ex￿pt for certain fraehokl l￿d 8nd buildings which are at V81uation, and the inve5tsllenl assets which are Shown at fair value. The financbal stalernenl indude all transactions. assets and liabilitles for whlch the PCC is responsiblè in law. They do not indude thÈ *Munts of thurth gioup$ that owe their main affiliqtion to another W north¢)5e that are infomal gatherings ofchurch members. The results for the tra¢*ng subsidiary. St Peterf$ Cenlrè CAtering Limited have been Consolidated wrth those of the PCC and these fin8neia1 statèmènts incorporate the income 8nd expenditure and assets and liaknlities of th8t company. The trustees consider that Ihgre are no mat￿1a1 Un￿rtalItieS about the Charity's ability to contiwe as 8 going COn￿rn. Thefinancial statsmenls are presented in sterfing wlich islhefunthnal cJJrren¢y of t￿charIty and rounthd to the ￿arest pound. Funds Endowm8nt Funds are funds, the C8Pital of which must be maintsined.. 0￿Y income arising from inve8lmenl of the Ondowment may be used either as resliicted or unrestriet8d fjjnds depending upon the purpose forwhich the end￿￿rnent was established. Restr￿e￿ funds represent lal income from trusts orendowments which m8y b8 •xpended only on those restricted obj•cts provided in the lemis of the trust or b8qu8si, and Ibl donations W grants received ftsr 8 sp8ciffc object or invtted by the PCC for a 8pecificobi¢d. Thefvnds may only bè Èxpanded on the speafic obje¢t forwhich they werg given. Any balan maining unsp8nt at the eThJ ofeach year must be carried forward as a bala￿e on that fvnd. Th8 PCC doe5 not usually invest separately lor each fund. Unrestsicted fvnds are general fvnd$ which eAn be used for PCC ordinary purposes. Incomo Planned givlng, collections donalons are recognised when i￿1¥¢d. Tax refvnd$ arÈ racognised when the 11K￿l￿g resource to which they ielale is received. Granig 8nd leg8u8s are accounled for when the PCC is legally entitled to the amounts due. Dividends and interest are aecourted for when ra¢•ivgble. All other incomè is recogThsed when tt is reeeivaNe. All incoming Tesources are accounted for gross tmrt net of Value Added Tax where applicable. Exp•nditur• Grants and donations a￿ accAyJnted forwhen paid over. orwhen awarded iflhat award cre8les a binding or con51rudive obligotion on Ihe PCC. ThedioGesan parish share is aeAxJnt8d forwhen paid. Amounts received spèC￿fie￿llyf0r missions are deatt with as restricted funds. Al other expenditure is generally rewnis&d when it is incuttbd and is accounted for gross. Page 10 PARISH OF NornNGHAM SAINT PETER AND ALL SAINTS Notes fomilng part of the finan¢l418tat•monts for the year ended 31 D¢c•mbar 2023 (Contlnu¢d) Aeetsunting pollol•s (Continu•dl Lea8•S R•ntaLg payatle under operating18a598 are ¢harged to the SOFA on a straight Ilne basis overth8 p8riod of the l&ase. Fix•dass•ts Cons8crat8d and beneficed propgrty is not inclLKled in the a¢eoLJnts in accordance with S10121 lal of the Charflies Act 2011. Movable church fumishings held by the I￿uMbent and Churchw8rdens on spec¥al trust k>rthe PCC, and vA)ieth rèquire a fraculty for disptssal, ara inalienable property li51ed in d)urch's inventory whid) ean be inspected {at any rea50nablp tirlle}. For anylhing acquired prior to 20(K) th8rg is in$uffioenl cost inforrnalion availBble therefore such assets ar8 not valued #i the finanaal stslemènts. It8ms acquired since 1 JanuJy 20CKt have teen capitalised and depreaatsd in th& accounts over their currently antiopated usefijl economic livès. All èxpenditure incurred in the year ￿ consecratad OT benefiod t￿IldIng$, Indfvlthjal items under £1,￿0, or on the ￿pair of MOva￿e church fumishings is written off. The PCC oc¢vpiÈs pramises known as St Peterf8 Centre under o 18ase dated hAay 2000 from the landlord Math6 & Spen￿[ pl¢ for 8 period of 999 years al a peppercom rent. Sl Pelerfs Centre fvmighlngs and office equipment is derKeGioled on a straighl line basis oveT 3-5 ye8r8 as aw)ropriate. Individual items of ¢qUTpment with a purchase price of £1.0ry) ¢y less are written off vthèn the asset is acquired. Investynents Investments are valued at fairvalue at 31 Tr￿Mb￿r yèar. Inv•8lmentpropeFties Inveslrnenl propertiès am accounted for al fair valuB by the tntstees. Dep￿i#l0n Is nol provided on investment properties. Current invéstments Thè charity holds cash on deposit for investment purposes, whith 18 ￿Corded at transaction price. in order lo obtain better rate of retum, thereby increasing their enabling them lo meet their obiects. Cash )t bank The ch￿ty holds Suffic￿nI fvnds in orderto meet its short t8nn cash cornmilments as t￿Y fall due. D•btors and Credltorn Debtors and creditors receivable or payable wlhin one year are re¢orded at transa¢tion price. Page11 PARISH OF NOTTINGHAM SAINT PETER AND ALL SAINTS Notes fomilny part of the fSnanclal $tst8m•nts for th• yearended 31 December 2D23 (Continu￿) In¢ome and *ndovmients from: Unrestrietsd Rostrlctsd Total Unrestricted Restrlet•d Fund¥ Funds 2023 Funds Fund8 Total 2022 lal Donatlons legacffos PlannÈd giving Gift Aid donalions Income tax rets)ver¥ble - Other planned giwng Collections {open platel al all SEiwi¢es Donations, appeals et¢ Legacies 74,206 18,572 20 7,525 10.162 26,172 415 74,621 122 18,&J4 20 7,525 16,408 26.57D 3,C￿0 29,172 66,981 17,810 2,082 5,169 6,993 2,882 538 69,883 18,348 2,082 311 23,281 30,274 136.657 19,945 156,602 99,035 27.012 126,047 Ib) In¢om• from charltsbl• activldes Churd) lettings Fees 12.503 1,191 12.503 1,191 6.218 3,699 6.218 3,699 13,694 13,694 9.917 9,917 l¢J Oth•r tredlng aGtlvlttes Coffe• room Centre Lettings 114,330 1.923 114.330 1.923 86,834 1,000 86,834 1,0(M) 116,253 116.253 87,834 87,834 (dl Investments Bank interest Incclne on invgslments Rent rÈtAiv•d 2,576 3.939 18,843 2,576 729 3.917 15.987 729 5.932 15,987 2,025 2,015 18,843 25.358 2,025 27,383 20.633 2.015 1¢) Other Income VAT recovered St Peterfs Tnjst FLmd8 1,504 67,480 1,504 79.4 537 65.075 1,431 9.4 12.010 74,565 68,984 12.010 80.994 65.612 10,921 76,5&3 Total income and gndowmenis 360,946 33.980 394.926 283,031 39,948 322,979 Poge 12 PARISH OF NorriNGHAM SAINT PETER AND ALL SAINTS Notes fonning part of the fknanclal statsm$nt8 for the year ended 31 December 2023 Icontlnued) ExpèndltUTe on: Unrestrret•d R•strlct•d Total Unrestricted Restrietsd Total Funds Fund$ 2023 Funds Funds 2022 lal Co$ts of gonoradng funds Coffee r(k)m expBndilure Promise Programme 67,472 87,472 71,785 246 71,785 255 87,472 87,472 72,031 72,040 Ibl Exp8nrfitur• on charltable actlviti MISS￿nary and tharitable gNing (note 171 Church overseas Missionary Societies R8li8f and development agencies Home missions and other Clwrch Societies Secular charities 125 125 2,WO 3,618 2,618 6SY) 1,194 883 7,533 1.093 1,783 10,250 3.501 13,751 Parish share Ministerial swjport ¢osl$. se¢retariall office expenses Ministeri81 expènsas Churches insuran¢e heat. light, water and lelephono major ￿paIrS routine m8intènaneo cleaning and repairs sanctuary St Pètèf a Cènt insurance hèat, light. water and telephone routine mainten?nc¢ cleaning and repairs Othèr PCC propeity upkeep costs Choir and organ ex￿nSeS Salari&s Directors of MUS￿ and organists Vergers Administrators and secretaries. 8alary Ipartl Church Org￿lS8t10nS- Actwitie8 Printing and ￿ts￿￿ery Office expenses Audrt l*es Loan inler8gt 42,¢J)J 42,OOU 72,(￿0 72,C4JO 14.268 2.086 10.453 32 24.721 2.118 14,278 2,013 9.297 23,575 120 2,133 13.882 17,896 13,882 17.898 11,935 13,844 7,414 11,935 13.844 9,783 13.202 2,763 14,400} 12,151 2,391 8.154 20,305 2,391 2.763 750 19,473 750 19,473 750 9,921 750 9,921 4.197 6.176 11,0631 4.197 6,176 (384} 3.934 3,357 363 9.096 13.030 3.357 699 1,181 16,114 35,505 1,220 17,334 35,505 14,874 32,488 779 15,853 32.486 11,359 113 11.359 2,782 8.390 8,390 258 564 8,861 3,060 15,(K)O 2,669 258 6,941 3,414 15,000 6.991 3,414 15.lYJO 6,861 3.060 15.000 225,412 11,816 237.228 245.83 34.755 280,593 Total Ex￿nd￿r9 312,884 11.818 324,700 317.869 34.764 352,633 Page 13 PARISH OF NOTTINGHAM SAINT PEfER AND ALL SAINTS Notes formlny part of the financlal statem•nts tor the year ended 31 D•c¢mber 2023 (Continued) St•ff Costs Unrestrlcted Funds R¢strrcted Funds Totsl Funds 2022 2023 Wages 2nd salaries Social Se￿Ilty cos1$ Pensron costs 123,546 3.040 4,380 9,750 100 133,298 3,140 4,380 116,9V2 2,550 4,153 130,966 9,￿0 140.816 123.e65 During the year the PCC employed 2 ffijll time and 11 part lime employees. none of whom eamed £60.1]CKJ pa or more. No lay rnemL*F of the PCC received any ieimburs8m8nt of expenses or remunewa1ion, except C Nwathukn¥u who was employed as a part lime verger from January 2022. On 28 April 2022 81 tha APCM he was ele￿ed 8 member of the PCC and St Peters, until 28 AkMII 2023 when he was appoinl8tl Dèpijty Church Warden. His remuneration was £9,541 (2022 £5,315). The PCC parb"apato8 in a multi-employer pension scheme. The seth&me is a defined benefft scheme. It is not posgble for the PCC lo obtain suffioent infomiation to enable f( to acfxjunt for the scheme as a defined benefft schèm8 and IherefoTe it accourrts for tt ag a defined contribution sehème. The scheme 1$ dasgffj￿d as a 'last man standing, arrangeThenL Therefore. the PCC 1$ potentialty liable frjr oth8r participating employèrs, obligations il those employets are unab18 to meet their share of the scheme defi¢it following withdrawal from th? srh¢me. Participating employerx arè legally required to meet IheiF Sha￿ of the scheme defi¢ll on an annuty purd)88e b8sis on wthdrawal from the scheme. A full actu8ri81 valuation was carried out on 30 September 2020 which showed 8 deffieit of £31.8 millon. P8rbapAbng ernployers hav¢ been asked to pay additional contributions to elirninate the deficit. The PCC has agreèd to pay £187 over the next 4 years. Thè conlributions to the defined contributK>n pension scheme in the year We￿ £4.38012022 - £4.153} induding £192 deficit ¢ontributions12022- £2261. Page 14 PARISH OF NornNGHAM SAINT PETER AND ALL SAINTS Notes fO￿Ing part ofthe financlal statements for the yg•r ended 31 Dec•mber 2023 {ConUnued) Fix¥d a$￿ts for by the PCC St P•ler's C•ntre Fumishings and equlpmont Offlco •quiprnent Total lalTanglbl• flxod a88ets Cosffv8luation At 1 January 2D23 Addillons 47,273 10,582 57,855 At 31 December 2023 47.273 10,582 57,855 Depwiafron At 1 January 2023 Charge for the year 47.268 10,577 57.845 At 31 D•c8mb8r 2023 47.268 10,577 57,845 N81 book value At 31 Dacember 2023 10 At 31 DetAmber 2022 10 Ibl Investsnents Historic Cost Falr value 2023 2022 Endowment Fund St P8ter-vl￿ent Trivett &holarship FLmd 1,283 Units Central Board of Finan¢È Invéstment Fund 29.tx)2 26,508 St Peter- Vincent Trivett Fund 1,308 Units Centr81 Board of Finance Investment Fund 1.005 29,567 27,025 Sl James Churth H¢wse Aco)unt 236.35 Units Charilles Offidal Investment Fund 292 4,880 4,295 St Peter- FaLviG and mainitenance 3,984 Units Cèntr81 Board of Finance Investrnent Fund 4.502 ,058 82,314 7.045 153,287 140,142 Pago 15 PARISH OF NOTTINGHAAI SAINT PETER AND ALL SAINTS Notes foming part ofthe finan¢lal stst•m•nts for the year end•d 31 Decemb•r 2023 (Condnued) Fixed o$$ets for u80 by the PCC {¢ondnu¢d) Ibl Investsnorts (eondnued) Hl8tori¢ Cost Falr value 2023 2022 RestrfctedFund Sl Peter Cobbin & Henson B811 Fund 521 Units Central Board of Finan￿ Investment Fund 483 11,777 10,784 St Pètér Fabric & Maintenance 2,182.44 Units Cèntral Board of Finanr Investment Fund 1,829 49,334 45,091 2,312 61.111 55,855 9,357 214.398 195.997 2023 2022 At Valuation 1 January 2023 Reali5atK>n Revaluation 195,997 222.193 18,401 (26,1￿) Fair valu• at 31 De￿mber 2023 214.398 195.997 Cost al 31 December 2023 9,357 9,357 Invesknent Properties 2023 2022 Fair walue At 1 January 2023 Revaluation 475,tLM) 475,000 At 31 December 2023 475,C 475,000 Investment pioperbes comwise All Saints Hall, 75 Raleigh Street arnl All Saints House. 14 All Saints Street, Notlingham. The properties were valued by Fr88man & Mitchell. Chartered Surveyors on 28 Sèptémber 2017 on an open market value for existing use at £475,000. The pmpèrtièg valued by the PCC a131 December 2023 and they co￿Ude1 th81 there has boen no rnaterial changa. Page 18 PARISH OF NOTTINGHAM SAINT PETER AND ALL SAINTS Notes formlThJ part ofth• financlal stat•ments for the year gnded 31 Decernbèr 2023 (Continuedj Analy$i8 of netass•ts by fund - 2023 Un￿strIcted R•stricted EndoY4ment Funds Funds Funds Total Fixed a&8ets 475.010 61.111 153,287 689,408 Current assets 18e,777 59.771 226,548 Current liabrfth8S 117,8021 12) {17,804} Long lerrn liabilities 13ThJ,O(XJl 1300.(ml Fund balart 323,9 120,882 153,285 598,152 Anatysl$ of net assets by fund- 2022 UnRstrlcted Ro$trietèd Endowment Funds Fund8 Funds Total Fixed assèts 475,010 55,855 140,142 671.CQ7 Current assets 116,830 39,922 156,752 Current liabrfities {15,917) 12.3151 12> 18.2341 Long tem liabilities {300,OCK)I 1300.0001 Fund balance 275,923 93,4F2 140,140 509,525 Debtors 2023 2022 Income tsx recoverable 17,022 17,037 other debtors 41,019 15,364 58,041 32,401 Investments- shorttsrni depo81ts Cash held for Inveslmenl 58.719 56,143 10 L1abllltl￿.' amounts falllng duè wlthln one year Creditors forgo¢4$ and $eNirE8 7.808 15,417 Other crerfitors 2,817 17,804 18,234 Page 17 PARISH OF NOTnNGHAM SAINT PETER AND ALL SAIKrs Note8 fomiing part ofthe financial ststsments lor the year ended 31 D•¢•mb•r 2023 (Contlnued) 11 Fund dets118 Thé reslrtcted fund comprises.. Bala￿￿al 31 Dèe 2022 Balance at 31 Dec 2023 Income Outgolngs St Peter- Fabric and Maintenance Sl Polgr-vincgnl Trivett Scholarship Fund for Choristèrs accumulated income st Peter- Vincent Ttivett Organ Fund accumulated income Overseas cornn7titee HR Cobbin Memorkil Fund for the Maintenan￿ and repair ofthè Church b8lls and the Annetta Henson bequest forthe benefrt of St Peterfs Bell Rlngers Other cvllectioris All Saints bell ring8rs All Saints Sludpnl Minigtry Workplace Chaplaincy Rev Gibson, D Coopgr & H Evans Legacie6 for St Peter S M Dudley & J Sears Lègaci8s for AJI Saints Hardship Fund (Women of F8ith} Mary Evison- Rector Discrètion8ry 45.091 4.243 49,334 5,323 793 699 5,417 4,326 907 808 1,279 1,220 215 3,914 1,971 20,263 11.1091 1,113 1,334 13,151 21,597 1.OCQ 1.113 12,575 11.042 14,5(X) 1.925 289 289 6,010 2,￿)0 14.40DI 12,410 5,000 6,348 203 3,￿0 25 103 543 283 3B3 93,462 39,236 11,816 120,862 The pemianent endowment fund ¢ompri8eS'. Thè Wincent Trivett Scholatship Fund for Choristers The Irin￿nt Triv8tt Fund for the upkeep and the maintenance ofthe organ The Sl Janes Church House AC￿urt for the upkegp of a thurch hall or room St Peter Fabric and Maintenarte for the repair and maintènancè of St Peter, Fund Re¢on¢lllatlon At 1.1.2023 Transfer8 Galnsl {Lo¥s9¥1 At 31.12.2023 In¢omÈ Outgolngs Unrestricte(l Funds Rèstrict•d Funds Endowinenl Funds 275,923 93.462 140,140 360.946 33,980 312,884 11,816 323,985 120,882 153,285 5,256 13,145 509,525 394.926 324.700 18,401 598,152 At 1.1.2022 Galnsl (los￿8} At 31.12.2022 Tran¥fors In¢ome Outgoin Unrtrslrfcled Funds Reslri¢ted Funds Endo￿nent Funds 310,761 95.731 158,883 283.031 39.948 317,869 34,764 275,923 93,462 140,140 17,453) {18.743) 565,375 322.979 352.633 126.1S6) 509,525 Page 18 PARISH OF NOTTINGHAM SAINT PETER AND ALL SAINTS Notss fornilng part ofthe ftnanci•l $tatem•nts for the year end•d 31 December 2023 (Contlnu•d) 12 Llabillti•s: amount8 falling due after one year To enable Ihg Iiansfer of funds lo St M8ry to be èffected, Sl Peterfs Tr￿t Funds have mad8 a loro lem) unsecured loan of £3(M).000 repayable in 2025 to the Parish. The loan bears intèr8st at 5% per annum. 13 Connected Charl￿¢8 St Peterfs Tmst Funds have objectives relgled to Ihose of Sl Peter's Church and grants froTh these funds are Included in these accounts. In 2023 £79,4￿(2022 - £74,565} was re¢ewed from St Pelerfs Trust Funds. Thé Parish paid £15.000 12022 - £15,(￿0) to the St Pelefs Tnjst Funds as inteTe31 M tho loan of £300,000 made to the Parish. The fo10￿￿n9 addrf￿nal small charities we administ8red separately from If* PCC by the Incumbent and Churehwardens.. Br8ithw8itè Charity Searby Poof Fund Archie Shiploy Memcrfial and Aphra ￿lSOn Prize Fund8 for the Bluecr>8t Academy Gowlhorpe SemK)n F￿d 14 St Pot•rfs C•ntre Caterlng Limited Th• Company is engaged in the sale of food and refreshm¢nls from Sl Peterfs CÈntr• and 18 ufK4er the diredi¢n of tha PCC. The whole oflhe issued share capital of lh8 company £2 is held by the DI0￿$8 ofso￿hwell and Nottingham Bowd of Fin8ncè on behalf of the PCC. The tumover for the year to 31 0¢￿mber 2023 was £114,330 {2022.. £88,834) and dired expenses t87,47212022". £71,785}. The profit of £26,85812022'. £15.049} was remitted to lh• PCC. The nel assets of the ¢ompany at 31 D￿M￿r 2023 were £2 (2022.. £2). 15 Lea¥ Total fvlurè minimum lease payrngnls under non-cancellable opÈr8ting l&ases are as foll(ws.' 2023 2022 Wthin onÈ yèar Be￿een one and five years 2,169 665 2,318 2,834 2,834 5,152 Lease paymonts mado during the year 2.316 2.318 16 Auditors, Remuneration Fees payable in respe￿ of.. Audit Payroll 3.174 1.018 3,060 786 Page19 PARISH OF NOTTINGHAM SAINT PETER AND ALL SAINTS NoteB formlng part of the flnanclal statements for th* y•ar ended 31 D¢c¢m￿r 2023 (Contlnued) 17 Mlsslonary and charltsbl* givlng Unrnstricted funds R￿tri¢ted lunds Totsl 2023 Totsl 2022 Chutrth OVe￿e£S Missionary Societies GMS 125 125 USPG 1,OLYJ 125 125 2,0 Relief aml devel(wment 8g8nu8S Christhan Aid 1,OCK) Ukraine Catholic Church- Ukraine Appeal 1,175 P￿ish Catholic Church- Ukraine Ap￿81 1,175 Muslim HBnds Pakistan Fltr)d Appeal Turkish Eathquake Appe81 3.618 Hon7e Missions Notts Clergy and Dep8ndanls 6[ Secul8r Ch81ih&s AdoptK)n Focus 311 Wothplacg Chaplancy 289 289 Emmanuel Hc*Jse 3,572 Framewo￿ Housing 1,OC Nottinghamshire Historic Churches Twsl 150 The Notbngham Arimathea Trust 1,500 Citizens UK 250 H•art8dg8 250 SFICE 5(M) Mercy Shlps 215 215 7,533 1,093 1,783 13,751 Page 20 Independent Audltors. Report ta thè PCC m•mbern of PARISH OF NorriNGHAM SAINT PETER AND ALL SAINTS Oplnlon We have audited the ffinancial statements ofThè Parish of Nottingham S8inl Peter and All Saints lthe'tharity'l for th8 yearended 31 Decemb6r 2023 which comprise ttle Slatèm8nt of Financial ActNili95, the Balance Sheet and notes lo the finanual statemènts, including 8ignfficant accounting policies. The finarri81 repo￿ng framework that ha5 been applied in their p￿paratiOn 1$ appli￿ble law and United Kingdom Accounting Standards, in¢ltJding Financial Reporting SI￿dard 102 The Fin8nck?l Repurting Standard applicable in the UK and Republic of Ireland (United Kingdom Gener81ty Accèpted Accounting Practice). In our opinton the fin8nual statèments.. give a true and fair vièw Gf th• state of the charity'¥ affairs as al 31 De¢embÈr 2023, and of its incoming re8ourc¢s and application of ￿SourCes. incbjding its irKorne and experKlrtU￿. for the year then ended.. have been properfy prepared in attordance with United Kingdom Generalty ALKepled Accountiro PraEti¢e," and have been prepared in accor(lanoÈ with th8 requirements of the Charities Act 2011. Bash for oplnlon We Gondu¢ted our audit in acurdance vAth It)temalional Standards on Auditing {UKI {ISA$ IUIQ) and applicable law. Our rèsponsibilities under those standards are further described in Auditods responsibilitiès for the audit of the financial slatèNnts section of our report. We a￿ independenl of the tharity in acc4)rdance the ethtral requiremènts thal are relev8nt to our audit of the ￿nar￿1￿1 statamenls in the UK. including the FRC'S Elhica Slandgrd, and we have fvlfillèd our other elhiGal responsibilitiÈs in aCCordar￿e wth these requlroments. We believe that th8 audit evidence we fva￿ obtained is $uffia•nt and apptowiate to piovide a basis for our opinion. Conclu8lon8 rela￿n9 to golng can¢•rn In audthng the ffinanaal statements, we have condudèd that the trustees, use of the going concern basi$ of accounting in the preparation of the financial statements is approwiale. Based on the work we havg perfomed, we have not idèntffi8d any material uncertainties relating to events or condthons that, individualty or collèctThiely, may cast Signth￿nt doubt on the tharity's abilty to ¢ontinue as a g