THE ECCLESIASTICAL PARISH OF NorriNGHAM SAINT PETER AND ALL SAINTS (Reglstered Charlty number: 1130298) Annual Report and Financial Statements of the Parochial Church Council for the year ended 31st December 2024 INCUMBENT: In interregnum OFFICES: St Peter's Centre St Peter's Square Nottingham NG12NW BANK: National Westmlnster Bank PIC Smith's Bank Branch South Parade Nothngham NG12JX INDEPENDENT EXAMINER,. Lemans 29 Arboretum Street Nottingham NG14JA
Annual Report Frcm spring 2024 the parish has been in vacancy. with the Rector Christophèr Halson having retired on 21st April 2024. Aim and Purpose The Parochial Church Council {PCC} of the parish of Nottingham St Peter's and All Saints, has the responsibility of promoting throughout the 8cclesiastical parish the whole mission of th8 Church, pastoral. evangelistic, social and e¢umenical. Until April 2024 under the Rector as Chair and from Ihat date under Dorothy Mounfford, Church Warden of St Pet8r's Nottingham as the Lay Chair of the PCC during the interregnum. Durlng 2024 our parish alms continu6d to: Live and proclaim the Gospel for the 21st century in our modern, challenging and fasl-d&veloping city. Develop ministry together in the cty in a way whlch makes clear that all p90p18 are valued by God., Speak OLrt together, wherever possible, on matters of justice and injustice. of inclusion and exclusion, of rights and r8sponsibiliti8s, of integrity and transparency. Flnanclal Statoments The PCC presents Its annual r6POrt and financial statements for the year ended 31 December 2024. The trustees have adopted the provisions of the Statement of Recommended Practice ISORP) 'Accounting and Reporting by Charities, in preparing the annual report and financial statements, The financial statements have been prepar8d in accordance with the accounting policies set out in the noles to the accounts and comply with the Charity's goveming document. the Charities Act 2011 and Accounting and Reporting by Charilies.. Statement of Recommended Praclic8 applicable to charities preparing their accounts in accordanc8 Wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019. Constitution and Principal Activity The PCC is a coorate body established by th8 Church of England and operales under the Parochisl Church Council Powers Measure in providing facilities for worship and religious observance for the people of Nottingham and its environs. The primary oblective of PCC members is Ihe promotion of the Gospel of our Lord Jesus Christ according to the doctrine5 and practices of th6 Church of England. Day to day activities include: Regular public worship op8n to all- Provision of sacred space for personal prayer and cont8mplation', Pastoral work including visiting the sick and bereaved., Teaching Christianity through sermons, courses and small groups. Promotlon of Christianty through the stsging of events and meetlngs: Promotion of the whole church through engag8ment in activities with the wider community. Supporting Ihe work of other churches and organisations which use St Peter's and All Saints, churches and assoclated buildings., Supporting other charities in the UK and overseas. Page 1
Govornance 'PCC members (as trustees of the Charity) are responsible for the governance and business affairs of the parish. The manner of their election and their duties and responsibilities - including those of churchwardens - is set out in the Church Representation Rules 2020 and the Churchwardens Measure 2001. Lay representatives are elected at an Annual Parish Church Meeting {APCM) of those people on the Elecloral Roll of the parish of St P8ter's & All Sainls, Nottingham. In addition, a number ofex-officio mèmb8rs- including churchwardens elected at the Annual Meeting of Parishion8rs (formerly the Vesty Meeting) and Synod members - S8e on the PCC in accordance wilh the above Rules. As the PCC has ultimate responsibilty fora wide range.of matters affecting the parish, such as compliancewith health and safety. Equality Act legislation and safeguarding issues, it has adopted appropriate training and procedures. These include attendance attraining courses, including onlin8 courses, arranged by the diocese and deanery and th8 dissemination of reading matter. Representatives of the PCC and others who att8nd courses report back to the PCC as a body. The last APCM was held in All Saints, Church on 2nd May 2024. Since then, the PCC has met seven times by Zoom and three times fac8-to-facg. This includes fwe ordSnary meetings, two extraordinary meetings and three meetings regarding the Parish Profile. Given itswide range of responsibilities, in addition tothe statutory Standing Committee. the PCC estsblishes a number of committee$ (see below) dealing with parlicular aspects of parish life, which have accountability back to the PCC. PCC Membership: 2022123 Served lo 211 May 2024 APCM Served from 2. May 2024 APCM Rector (chair) Associate Priest Revd Christopher Harrison Revd Dr Richard Davey Vacancy Revd Dr Richard Davey. On long terrn sick leave from Se lember 2024 to dale Dorothy Mouniford (Lay Chair) Jane Henson (unlil September 2024) Chris Simcock (from October 2024) Churchwardens- St Peter's Dorothy Mountford (Lay Chair) Jane Henson Churchwardens- All S8ints' Lorraine Smadl@y David Towers Lorraine Smedley David Fines (until October 2024} Deputy Churchwardens Chigozie Nwachukwu {St Peterfs) Chigozie Nwachukwu (Sl Peterfs) Deanery Synod representatives (Ex- officio PCC M8mbers) KeSth Mountford David Towers Max Butterworth Rob Edlin-white Keith Mounttor(I Elected Lay Members for St P8ter's Patricia Coy Rachel Dyer-williams Rob Edlin-white Resil Jarrett Cathryn Vindelis Kam Kuen Chan Patricia Coy (until October 20241 Caroline Essex R85iI Jarret Chris Simcock (until October 2024} Sharon Simcock Elected Lay Members for All Saints, David Fines John Burr (from 1st June 2023> Gasual vacancy Casual vacancy Casual v8C8ncy John Burr Maureen Black Amy Fines {until October 2024} Marjorie Taylor David Towers Co-opted member P8ter Moore (Treasurer) Peter Moore (Tre£surer} Jennrfer Seel8y {All Saints,) PCC Secretary Rachel Dyer-williams Rachel Dyer-williams Page 2
In the period immediately prior to each APCM, eligible parishioners on the Electoral Roll of the parish are invited to propose and second {1) churchwardens,. lil) lay members of the congregation to stand for election at the APCM as PCC members in accordance with the scheme 8Xtant at the time and (iii) (triennially) deanery synod representatives. Additionally. up to three other members may be co-opted by the PCC. Members of the clergy serving in the parish who join the PCC hold a licence issued by the Diocesan Bishop. Committees and Groups The Standing Committee is tha only committee required under the Church Rgpres8nt8tion Rules 2020. It has the power to transact th8 business of the PCC between its meetings, subject to any direction given by the Council, The Standing Committee met five times, a fortnight before each of the ordinary PCC meetings during 2024 - 2025. Other committees include Finance, Safeguarding. Overseas, Site and Health and Safety. Each of Ihese have powers vested in them by the PCC and they report regul8rlyto that body. There are a number of other Yunctional. groups who perforrn specific tasks, such as the Coffee Room Committee and the 'We Are One, group which works on issues of race and racism. In addition, the grassroots views of the parishioners can be heard at periodic Congregational Meetings. Objectives and Actlvltles The primary objeclive of the PCC is the promotion of the Gospel of Our Lord Jesus Christ according to th8 doctrines and practices of Ihe Church of England. The PCC is committ8d lo enabling as many people as possible to worship 8t both of the churches within the parish and to become partof the parish community. It maintsins an ov8rviewof worship and otherchurch activitiesthroughoul the parish and makes suggestlons on how Church services can Involve as many people as possible from both withln and outside of the parish. The seNices an(1 worship put failh into practic8 through prayer and scrlpture, muslc and sacrament. The PGC makes a positive contribution to keeping Its churches and churchyards open to the wider community as much as possible and focuses on many aspects of parish life that rely heavily on willing volunteers to supplement paid staff. When planning acttvities for the year. the PCC. the Lay Chair and Associate Priests consider the Charity Commission's guidance on public benefit, and pariicularly the specific guidance on chariti8s for the advancement of religion. They try to anable ordinary people to live out their faith as part of the parish communily through.. Worship and prayer,. leaming about the Gospel and developing their faith in God through Jesus Christ. P£storal car8 of the parish community. Mission and outreach work. To facilitate this work, th8 PCC re¢ognis8S it is important thatthe fabric of both churches and the parish centre complex are well maintained. The parish includes a large section of the city cenlre and this is mostly occupied by buslness, commerce, education and leisure orientated organisations but, increasingly. with pockets of residential use. Larger r8sidential areas are in The Park and the Arboretum area around All Saints, Church. which is increasingly éominated by students. People 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 visitors. St Peterfs church. in parliculgr, has much to offer to tourists and other visitors by virtue of its several centuries of history and central localion. The number of visitors to th8 church remained strong and probably increased during 2024. The PCC offered a range of church s8rvices in both churches over the course of Ihe year. including a total of four Sunday morning services, plus midweek and evening services where possible. Webcasl seNices continued to be made available online. using live streaming. Both chuhe$ have fine peals of bells which are normally rung regularly by their respective bands of bell ringers. The relationship with the Nottingham Universty Sociely of Change Ringers, which is based at All Saints,, is strong, as is that with the St Peterfs ringers. Page 3
As some members of our parish are unable to attend church due to illness or age, clergy or authorised lay people normally visit them and, rf requested. celebrat8 communion with them etther at their home or in hospital. In March 2024 the Coffee Room Manager and Assistant Manager retired and a new look facility, managed by Kosta Konstantinos, was reopened in May. The Fair-Trade shop adjacent to the Coffee Room is also a valued part of the ministry of the parish. The number of people named on the joint Electoral Roll of St Peter's and All Saints, stood at 197 on 31 st December 2024 compared with the 31st December 2023 figur8 of 178. Key Objectives and Activities for 2024 St Peter's Church During 2024 the weekty pattern of services remained generally unchanged, although services took place every Sunday evening except for the occasional fifth Sunday in the month. Evensong and Compline were moved back to St Peter's from All Saints, towards the end of 2023. The weekty 8:15am BCP communion continued after Christopher's retirement. From Aprll to Septemb8r 2024, we maintained the four evening services of a healing Eucharisl, Choral Evensong. Taiz8 and Compline. With the sad situation of the Rev'd Dr Richard Davey being on long term sick18av8. we were unab18 to cover four Sunday evening services. so plans were put in place to reduce them to Evensong and Compline only for the duration of the interregnum. Over the summer and autumn of 2024, the church worked on developing its growing diversity in ways that enabled real inclusivity to be possible. One element of Ihis was the encouragement of relationship building through caSIonal parish meals after the main Sunday service and the establishment of the Celebration of Life, Love and Inclusivity seNice which was held every other month in response to a requ8St from the Nollingham LGBT neOrk. Despite being in vacancy, att8ndance has increased particularly at the 10:45am s8rwic8 when between 70 and 120 peop18 attend. These include young famllles and students from a wide range of ethnic backgrounds. The major Heritage Project which took place in 2022 was consolidated and developed by means of continued work with large groups of schoolchildren who visited St Peter's at various points in 2D24. Discussions have tak8n place about a further heritage project, which would focus on major roof repairs on the north aisle. welcome and accessibility. as well as other fabric needs and including the demands of reaching Net Zero by 2030. As th8 socio-economic climate experienced by many people in Notlingham deteriorated, in particular because of higher costs offood, fuel and housing. growing numbers ofthose experiencing acute hardship have come to St Pet8rfs in search of h81p and suppori. Rough sleeping in the areas around the church has also increased, as well as the incid8nc8 of those with mental health needs. St Peterfs staff and volunt88rs have responded appropriately to a wid8 range of calls upon thelr pastoral skills. The work of the verger team and the ministy assistsnt remains esp8cially important in this cont8Xt. St Peter's open door policy, which enables it to relate strongly to social. emotional and spiritual needs, requlres considerable financial support in terms of staffing Costs and the PCC continues to make this a priorty. Once again a Christmas breakfast ft)r rough sleepers was well attend8d. The St Peter's choir continues to make a very valuable contribution to the worship in the parish as well as in the wider musi¢al life of the city, including the thrice yearly Coffee Break Concerts. The musical life of the parish is led by a Dir8Ctor of Music and iwo associate organists, each of whom contributes a high level of professionalism to their work. In December 2024 Chigozie Nwachukwu. assistant verger handed in his resignation. B8cause St Peter's is without a rector Chi is now working with the new vicar of St Mary's, Nottingham to fulfil his dlocesan lay mlnistry course. This will enable him. after th8 necessary training, to become Ilcensed a5 a lay mlnlster in this parish. Lent discussions were well support8d in Spring 2024. An outreach stall, staffed by church m8mbers, welcomed passers-by and offered free refreshments during four weeks of the year. including the Welcome Weeks at the University of Nottingham and Nottingham Trent Universty. The churchyard was transformed by an initiative designed to evoke the ethos of a medieval 'physic garden, and Involved the introduction of a wide varièty of herbs, bushes, and other flowering plants. Thls continues to flourish. All Saints. Church Sunday morning Eucharist has continued at All Saints, church throughout the year. A highlight was a Celebration of All Saints, Day with local Contributions from both St. Gabriel's and the New Enlightening Word Church taking part, along with representatives Df the Bell Ringers and Nottz Garden Project. Page 4
The Tuesday moming Communion Services have continupd to lake place when we have had Clergy available and when they are not, the church is still open for Si18nt Prayer. We also had two wonderful weddings and some baptisms. 'Sadly. w8 also lost som8 of our members and their funerals took place at All Saints,. Revd Anna Clarke continued herwork with local students with some very successful barbeque ev8nings. Sadly, Anna mov8d on in &arly 2025. The fv40 other congregations who use All Saints, have continued to flourish. St. Gabriel's. which is an Erilrean Orthodox congregation, meet from 5am - 9.30am with congregations of up to 300. They now have their own priest and as such 8re able to have more celebrations. The Nottingham Enlightening Word Church continues to worship on Sunday afternoons and also enjoys further growth in numbers. Both chUhe$ have further sessiorls mid-week for their children and young p8ople. It is wonderful to feel that so many people are able to shar8 in worship at All Saints, Church. Much work continued to be done in the churchyard throughout the year. Th8 partnership with the Nottz Garden Project has increased. Vegetables are now grown which are used by those supported by SFICE and also the residents of the All Saints. House. supported by the Nottingham Arimathea Trust, They have now received a grant from the UK Govemment Levelling Up scheme to enable more of the churchyard to be used for introducing the local community lo the many benefits of gardening. A Facully and Planning permission were both granted to enable this work to expand. The partnership with Nottingham Community Payback. an ag8ncy of the Probation Service, enables other valuab18 work to be done in the churchyard. Groups attend iwice a month to help with thls. All Saints, Hall is let to the SFICE Foundation, whlch provides various support Services for people in acute need such as those who are homeless, seeking asylum or living wlth low income. Thelr work contlnues to b8 very important as they offer community meals, English language Classes and workshops on cooking on a low budget. SFiCE's work developed and continued to be strong in 2024. Sadly, the Nottingham Arimathea Trust aSed to function at the end of 2024, but we are hoping that the house will soon be used again to provide housing and protection for vulneffdble people. The Parish in General In 2024 the Ministry Assistant sch8me ceased when lan Wright, the current post holder. was appointed as Chief Verger. lan continues to make an invaluable contrlbution to welcoming and pastoral work in the parish. During 2024 th8 parish continued its work on developing a greater sense of inclusiveness. An important element of this was the drawing up of an anti-racism policy which was rolled out to all ernployees and v¢lunte8rs. The parish Overseas Committee again played an aclive rol8 in fund-raising and raising awareness of intemational issues, working with partnets such as Christian Aid and CMS. Donations were made to a series of charities working with people in need overs8as, notsbly Ihrough the 'Silver Smarties, scheme. Support was also given to overseas emergency appeals. Considerable work was don8 to ensure that the parish's activitles and personn81 remained up-to4ate with current. safeguarding requirements. Very sadly Rev'd Dr Richard Davey was signed off from duty from September on long term sick leave and Revd Owen Page and Rev'd Gill Owen stepped back from St Pelerfs to concenlrate on supporting All Saints,. We are indebted to Rev'd Professor Helen Hall. who continues to support the parish in so many ways. and to a team of clergy and lay people who help to ensure that the work and worship of the parish continues. Fund Raising Raising fund5 for the work of the church is a priority for the PCC as the maintenance and refurbishmenl of Church buildings and contributions to Parish Share continues to draw heavily on the financial resources of the parish. Investment Pollcy The PCC invests any monies. consider8d by the Treasurer as not required for the immediate purpose of the Church, on deposit with the Church of England D8POSIt Fund. The indirect investments are held by the Diocese of Southwell and Nottingharn on behalf of th8 PCC, and inv8Sted principally with the Central Board of Finance in th8 Investrnent Fund, Page 5
Policy for Making Grants or Donations Subject to financial considerations. the PCC will consider making grants to local charilies which 8Xtend the mission of the church in the centre of Nottingham and the Overseas Committee w511 support overseas projects from funds raised. Reserves Policy It is the policy of the PCC to maintain a balance on unrestricted reseNes (net current assets) which equates to between three and six months unrestricted paymenls in a normal year. This is 8quivalent to behyeen £65.000 and £130,000 and is held to smooth out fluctuations in Gash flow and cover emergency situation5 and meet unexpected repair cost to th8 church buildings which may arise from time to time. The balanc8 at the year*nd was £100.000 which falls within th8 criteria set by the PCC. Risk Management PCC members acknowledge their ullimate responsibility for the 8ffective management of risk. The risks relale to atters affecting the parish including compliance with health and safety, disability, discrimination legislation and safeguarding. The PCC r8gularly assesses all major risks to which the Council is exposed and reviews all systems and procedures. It has a Safeguarding Officer who, working wilh the Safeguarding Committe8, seeks to ensure the estsblishment and proper observance of policies and procedures covering bolh churches in the parish in respecl of children and vulnerable adults. These are reviewed annually by the PCC and relevant advice received from the Safeguarding Team of the Diocese of Soulhwell and Nottingham is incorporated. In recognising its responsibilities. the PCC also has in place policies and procedures for the r8cruitmenl, induction and training of PCC members, paid staff and volunteers as appropriate. Work was done in 2024 to review and update the general risk assessments for both churches along wilh the fire safety policy and the health safety policy. The PCC alsc approved a Code of Conduct for all church volunteers. Statement of tho PCC Members Responslbllltles Regarding Financial Matters The PCC members are responsible for preparing Ihe Trustees. Annual Report and the financial statements in accordance with applicable law and United Kingdom Awounting Standards {United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the PCC members to prepare financial statements for each financial year which give a true and fair view of the state of affairs of Ihe PCG incoming resources and application of resources for that period. In preparing these financial stat8m8nls, the PCC members are required to: select suitsble accounting policies and then apply th8m consistently obse8 the methods and principles in the Charities SORP 2019 FRS102 make judgements and estimatss that are r8asonable and prudent state whether applicable accounting standards have been followed. subj8Ct to any material departures disclosed and explained in the financial statements prepare the financial statements on th8 going concern basis unless it is inappropriate to presume that the charity will ntinUe In operation. The PCC members are responsible for keeping proper accounling records that disclose with reasonable accuracy at any Ilme the financial position of the PCC and enable them to ensure thal the financial stat8m8nts comply with the Charities Act 2011. the Charity {Accounts and Reports) Regulalions 2008 and the Church Accountlng Regulations 2006. They are also responsible for safeguarding the asset5 of the PCC and hence for taking raasonable steps for the pr8vention and det8Ction of fraud and other irregularities. Flnances The Ststement of Financial Activilies for 2024 shows total income of £354,50212023: £394.926) and total expenditure of £406,543 (2023: £324,700) resulting in an overall deficit of £52,041 12023- surplus £70.226). a deficit on unrestricted funds of £42,619 and an outflow of restricted funds of £9.422, before the gain on th8 revalualion of the investments of £4,937 {2023: £18,401).The reserves to carry fOard amounted to £551,048 of which £156,824 relates to endowment funds, £112,858 to restricted funds and £281.366 to unrestricted. Page 6
The decrease in the restricted reserves arises principally from the £9.024 spent on the repairs to the roof at All Saints Church In autumn of2023 a Review of Giving was undertaken, resulting in an increase in gift aided donations. this is reflected in the regular giving this year, Unrestricted donations and collections in the churches has fallen slightly and are still below the pre-covid level of2019. St Peters Trust Fund contributed £72,011 towards the wnning ofth8 parish, income from investments was £8,355 a slight reduction on the previous year, church lettings at £16,082 arising from the use of All Saints by St Gabriel's Church and the Nottingham Enlightening Word Congregation increased by £3,579, the rent from the two properties at All Saints provided a net income of £12.523. The coffee room suffered a setback with a change in management,. from April 2024 it closed for a short period and the new team set about rebuilding the customer base and the turnover. It is now open six days a week throughout the year and it achieved a tumover for the year of £117.139 (2023: £114,330) however with incr8ases in the cost of staff and food. direct costs amounted to £122,245 (2023.. £87,473) and resulted in a deficit of £5.10612023: surplus £26,858}. Parish expenditure amounted to £406,543, an increase for th8 y8ar, excluding coffee room expenditure, of £47.071 of which £22.000 is attributable to Parish Share. church 8mployrnent costs have risen by £9,500 and £9,024 was spent on repairs to the roof al All Saints and Church utility costs have increased by £4,200, other expenditure with inflation. In 2023 for financial reasons the PCC determined that the payment of the Parish Share b8 r8duced by £30,000 to £42,000. In 2024 Ihe r8quested amount was £76,500 of which the payment of £64.125 was achieved. For 2025 th8 draft budget for the parish showed a deficit of £60k, It was resolved that Ihe ¢harilab18 donations of £1 Ok be suspend8d and that tha Parish Share be reduced by £50k to £29k thus giving a balanced budget assuming that the coffee room provides a modest contribution. At the end of the year the investments stood at £219.335 (2023: £214,398). Plans for the Future Our current priority is to make a decision on the future of the Parish etther to continue as one parish or to recreate two parishes. Depending on the OLrt¢ome ofthis decision. either one parish profile or two will need to be finalis8d and sent to the Bishop's office for approval prior to being sent out with an advertisement for a new R8Ctor for either one parish or two. In addition to this, we are still making the following Goncerns a priority: to maintsin the parish's response to acute pastoral and community ne&d' to sustain the rough sleepers.. drop in 8t St Peterfs; to keep the fabric of both churches in good order, including a new heritsge project at st Peter's- to ensure the finances of the parish remain secure and sustainable., to maintain our education outreach to inn8r city schools- to maintaln our outreach via the three Hong Kong dialogue groups whlch meet for three terms in Sl Peter's; to continue to prioritise a mlnlstry of welcome to n8wcomers at both churches. to maintsin and develop relationships with St Gabriel's church and the Nottingham Enlightening Word Church al All Salnts" trj SUPPOrt and sustain the minislry to students at All Saints to work further on issues of inclusivity, especially race and racism, and to respond to opportunities made possible by the Church of England's new Prayers of Love and Faith. Declaratlon of acceptance: Prepared by and slgned on behalf of tho Trustees on 25 March 2025 Dorothy Mounrford (Lay Chair) Rachel Dyer Williams {PCC Secretary) Page 7
PARISH OF NorriNGHAM SAINT PETER AND ALL SAINTS ststement of financial actlvltl8s for the year 8nded 31 Decembor 2024 Unreslrlcted Funds RtrIcted Funds Endowment Funds Total funds 2024 2023 Note Income and endowments from: Donations 2nd legacies Income from ¢haritable activities other tradlng activities Investments Other income 2(a) 113,798 3.786 117.584 156,602 2(b) 2{c} 2{d) 2(e) 19,925 119.559 21,849 69,486 19,925 119,559 23,906 73.528 13,694 116.253 2T,383 80,994 2,057 4.042 Total income and endowments 344,617 9,885 354.502 394,926 Exponditure on: Costs of raislng funds Expenditure on charitabl8 8CtNities 3(a) 122,344 122.344 87,472 3(b) 264,892 19,307 284,199 237,228 Total oxpenditure 387,236 19,307 406.543 324,700 Net {expendilurellincome before galns on Investment assets (42,6191 {9.422) (52,0411 70,226 Gainsl{Losses) on Imiestment ass•ts 1,398 3,539 4,937 18,401 N¢t{expendltur•)lin¢om• (42,6191 {8.024} 3,539 (47,1041 88,627 Nel movement in funds Balances brought f0Thrd at 1 January 2024 323,985 120,882 153,285 598,152 509,525 Balances ¢arrl•d forward al 31 De¢¢mber 2024 281,366 112,858 156,824 551.048 598,152 The notès on pages 10 to 20 lorrn part of these accounts. Page 8
PARISH OF NorriNGHAM SAINT PETER AND ALL SAINTS alance sheet at 31 December 2024 Note 2024 2023 Fixed Assets Tangible fixed assets Investrnent assets Investment properties 10 219.335 475,000 10 214.398 475.000 5b 694,345 689,408 Current assèts Debtors Investments - short term deposits Cash at bank and In hand 35.390 41.018 103.574 58,041 58,719 109,788 179.982 226,548 Llabllltles: amounts falllng due: within one year 10 {23,279) (17.804) Net current assets 156.703 208.744 Total assets less ¢urrent Ilabilitles 851.048 898,152 Credltors amounts falling due after one year 12 1300,000) (300,000) Total Net Assels 551.048 598,152 Parish funds Unreslricted Restricted Permanant endowment 281,366 112,858 156,824 323,985 120,882 153.285 551,048 598,152 Approved by the PCC on 25 March 2025 and slgned on ils behalf by.. D E Mountford Chaimian P R Moore Treasuror The noto5 on pages 10 to 20 form part of these accounts. Page 9
PARISH OF NOTTINGHAM SAINT PEfER AND ALL SAINTS 'Notes forniing part of the financial statements for th8 y8ar ended 31 December 2024 A¢¢ounling poli¢ie$ The PCC constitules a public benefft entity as defined by FRS102. Tha financial statemen1$ have been prepared in accordan¢¢ with Accounting and RetK)rting by Charitles.. Statement of Recornm8nded Practice applicable to charitie5 preparing thelr accounts in a¢cordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019. the Finandal Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS1021. the Charities Act 2011, the Church Accounting {Amendmenll Regulalions 2006 and UK Generally Accepted Practice. The financial statements have been prepared to give a 'true and fair, view and hava d8parted frorn the Ch8ri1ies {Accounls and Reports) Regulations 2008 only to the extent required to provide a Irue and falr vleW. Thls departure has involved following the Accounting and Reportiro by Charities: Statetnent of Re¢ommended Practice applicable to charities preparing their accounts in accordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland Issued in October 2019 ralher than the Accounting and R8POrtlng by Charities: Slalement of Recommended PTactl¢e effective from 1 April 2005 which has since been withdrawn. The significant accounting policies applied In the prèparatlon of these financial slalemenls are sol out below. These policies have b&en consistently applied to all years presented un18SS Otherwise Stated. The financial statements have en prepared und6r Ihe historical cost convention. ex¢ept for certain freehold land and buildings which are at valuation, and the investsnent assats which are shown at fair value. The financial stat8m6nls includè all transactiorFs, assets and Ilabilrties for whlch the PCC is responslble in law. They do nol Indude the accounts of church groups Ihat owe their main affiliation to.anolher body nor those that are informal gatherings of church members. The results for the trading subsldlary. St P8t8rfs Centre Catering Limited have been consolidated wilh those of the PCC and these financial statements incorporate the Income and 8xpendlture and 8888ts and liabililies of that ¢ompany. The trustees consider that the are no matèrial uncertainties about the Charity's ability to contlnue a5 a golng concem. The financial statsmenls are presented in sterling which is the fun¢tlonal currency of thè charity and rounded to Ihe nearest pound. Funds Endowment Funds 8re funds, the Capltal of which must be maintained- only income arising from Inveslment of the endowment may be used either as restricted or unreslTicled funds depending upon the PUTpose for which the endowment was established. Restricted fundg represent la} Income from trusts or endowments whith may be expended onty on those restricted objects provided In the terms of the trust or bequest, and (b) donations or grants received for a specific object or invited by the PCC for a spe¢ifi¢ object. Tho funds may only be expended on Ihe specific obje¢t for which they were giv8n. Any balan remaining unspent al the end of each year must be carried forward as a balance on that fund. The PCC does not usually invest separately ft)r each fund. Unrestriclad funds are general funds which can be used for PCC ordinary purposés. Income Planned giving, collections and donations are recognised when received. Tax refunds are recogniged when the incoming re50ur¢e lo which they relate is received. Grants and legacies are 8¢¢ounted for when the PCC is legalty entitled to the amounts due. Dividends and interest are a¢cA)unled for when receivable. All olher income Is recognised when it is rèceivable. All incoming resources are a¢¢ounted for gross bul nel of Valu8 Added Tax where applicable. Expendituyp Grants and donations are ac(thnted for when paid over, or when awarded rf that award creates a binding or constructive obligation on the PCC. The dits9an parish share is accounted for when paid. Amounts received Splf1¢allY for missions a dealt with as roslricted funds. All other expenditure is generally recognised whon tt Is incurred and is accounted for gross. Page 10
PARISH OF NorriNGHAM SAINT PETER AND ALL SAINTS Not•s forming part of the financial statements for the year ended 31 De¢ember 2024 (Continued) Accountlng pollci•s (Contlnuedj Leases Rentals payable under operating leasès ara charged to the SOFA Dn a slraight line basis over the perlod of the lease. Fixed assets Consecrated ancF beneficed property is not included in the accounts in accordance with S1012) {a) of the Charities Act 2011. Movable church fumishings held by the Incumbent and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are inalienable propety listed in the church's inventory which can be inspected {at any reasonable time). For anything acquired prior to 2000 there 5s insuffi¢ient cost information availabl8 and therefore suth assets are nol valued in the financial slatem6nts. Items acquir8d since 1 January 2000 have been capitalisèd and deprecialed in the accounts over their currendy anllcipaled useful economic lives. All expenditu Incurred in the year on consecrated or beneficed buildings, individual items under £1,000, or on the repair of movable church furnishings Is written off. The PCC occupie5 premlses known as St Pelerfs Centre under a lease dated May 2000 from the landk)ré Mark5 & Spencer plc for a period cf 999 years at a peprCOrn rent. St Peterfs Centra fumishings and office equipment is depreciated on a straight lina basis over 3-5 years as appropriate. Individual items of equipment with a purchase price of £1,000 or less are written off when the ass8t is acquired. Investments Inv8slments are valued al fair value at 31 December each year. InveStnnI properties Investmènt properties are accounted for at fair value by the trustees. Dopreciation is not provided on investment properties. Current Inv8Stments The charity holds cash on deposit for Investment purposes. which is recorded at transaction pricè, in order lo obtain a bett8r rale of return, thereby increaslng their income 8nabling them to meet their objects. Cash at bank Th8 charty holds sufficient fun(Is in order to meet ils short temi cash commiknents as they fall due, Debtors and Creditors Debtors and Creditors receivable or payable within one year are recorded at transaction price. Page 11
PARISH OF NorriNGHAM SAINT PETER AND ALL SAINTS Noles fomiing part of the flnanclal statèmonts for the yoar ended 31 December 2024 (Contlnued) In¢ome and endowmenls from: Unrestrlcted Restrictsd Total Unrestricted Restricted Funds Funds 2024 Funds Funds Total 2023 {al Donatlons and logacles Planned giving - Gfft Aid donations Incom• lax recoverable Other planned giving Collections (open plate) al all services Donations. appeals atc Legacies 77.023 19,393 30 77,053 19.400 74,206 18.572 20 7,525 10,162 26,172 415 122 74.621 18.694 20 7.525 26.570 29.172 8.118 9.133 131 8.118 12.882 131 3,749 16,408 3.000 113,798 3,786 117.584 136,657 19,945 156,602 (bl Income from charltable activities Church lettlngs Fees 16,082 3,843 16,082 3.843 12,503 1,191 12,503 1,191 19,925 19,925 13,694 13,694 1¢) Other tradlng a¢tivitl•s Coffee room C8ntre Lettings 117,139 2,420 117,139 2,420 114,330 1,923 114,330 1.923 119,559 119.559 116,253 116,253 (d) Investments Bank interest Income on investmenls Renl raceived 2,298 4.000 15,551 2,298 6,057 15.551 2,576 3,939 18,843 2.576 5.964 18.843 2,057 2.025 21,849 2,057 23,906 25,358 2.025 27,383 {e) Other income VAT recovered Sl P6t•r'g Trust Funds 1.517 67,969 1,517 4,042 72.011 1.504 79.490 67,480 12.010 69,486 4,042 73.528 68,984 12,010 80.994 Total income and endowments 344.617 9.885 354,502 360,946 33,980 394.926 Page 12
PARISH OF NOThINGHAM SAINT PETER AND ALL SAINTS Notes fom)Ing part ot the financial statements for the year ended 31 D•¢¢mber 2024 (Contlnuad) Expenditure on: Unrestricted Restricted Totsl Unrestrictèd R8strl¢tsd Total Funds Funds 2024 Funds Funds 2023 {al Costs of generatlng funds Coffee room oxpenditure Promis8 Programme 122,244 100 122.244 100 87,472 87,472 122,344 122.344 87.472 87,472 (b) Expondlture on charitable adivities Missionary and charitable glvlng {note 17) Church oversaas Missionary So¢ielies Relief and dèvelopment agencies Secular charities 125 464 504 125 215 52 215 52 690 1.194 267 267 690 1,093 1,783 Parish share Minlstsrlal support costs, secretsriall office expenses Ministerial expenses Churches insuran heat. light, water and telephone major repairs routin8 malnten8nce d8aning and pairs sanctuary St Peterfs Cenlre insurance hoat. light. water and telephone routine maintenance deaning and rèpairs Other PCC propety upk99p costs Cholr and organ expenses Salaries Directors of music and organists Vergers Adminislraters and secretaries. salary (part) Chur¢h organisations- Activities Prinling and stationery Office expanses Audit fees Loan inlere8t 64,125 64.125 42.000 42,000 14,807 702 4.042 18,849 702 14,268 2,086 10,453 24.721 32 2.118 14,197 22,149 14,197 22,149 9.024 13.882 17,896 13,882 17,896 9.024 12,611 3,542 3.359 15,970 3.542 13,202 2,763 (4.400) 8.802 2,763 750 16,195 750 16.195 750 19,473 750 19,473 10,892 3,028 {2.752} 10,892 3,028 {2,162} 4,197 6,176 {1,083} 4.197 6.176 13841 590 699 16,884 46,715 1,276 18,160 46,715 16,114 35,505 1,220 17.334 35,505 14,462 155 14,462 904 686 7.054 3,690 15,000 11,359 113 666 6.941 3,414 15,OQD 11.359 2.782 666 6.991 3,414 15.000 749 2,669 7,054 3.690 15,000 50 264,892 19.307 284.199 225,412 11.816 237,228 Totsl Expenditurn 387,236 19,307 406.543 312,884 11,816 324.700 Page13
PARISH OF NOThINGHAM SAINT PETER AND ALL SAINTS Notes fomiing part of the flnancial stat8ments for the yoar ended 31 D¢¢ember 2024 (Continued) Staff costs Unrestrl¢ted Funds Restrict8d Funds Totsl Funds 2023 2024 Wages and salaries Social security costs Pension costs 147,070 3.839 5,012 3,500 150,570 3,839 5,162 133.296 3.140 4,380 150 155.921 3,650 159,571 140.816 During the year the PCC employed 4 fv11 lime and 7 part lim8 èmployees, non8 of whom earned £60,000 pa or more. No lay member of the PCC received any reimbursement of expenses or remunerallon, except C Nwachukwu who was employed as a part time verger from January 2022, On 28 April 2023 at the APCM he was appointed Deputy Church Warden for St. Pelers. His remuneration was £10,411 12023 - £9.541 }. The PCC participates in a multi-employer pension scheme. The sch8m6 is a defined benefit scheme. It is not possible fof the PCC lo obtsin sufficient information to enable it to account for tha scheme as a defined benefit scheme and therefore it accounts for il as a defined Conlrfbution scheme. The scheme is dassified as a 'last man standing, arrangement. Therefore, the PCC is Potentialty liablo for other participatlng employers. obligatlons if thos8 employers are unable to meet their share of the schème deficit following withdrawal from the schem8. Participaling employers are legally required to meet thelr share of the scheme deficit on an annuity purchasa basis on withdrawal from the scheme. A full actuarial valuation was carried out on 30 September 2020 which sh¢)wed a deficit of £31.6 million. Participating employers have been asked to pay additional contrlbulions to eliminate the deficit. Th8 PCC has agreed to pay £187 ovar the next 4 years The contributions lo the ijefined contribution pension scheme in the year were £5,162 (2023 - £4.3801 in¢ludlng £90 def11 contdbutlons12023 - £1921. Page 14
PARISH OF NorriNGHAM SAINT PETER AND ALL SAINTS Nots$ forniing part of the financial ¥latements for the year ended 31 D•cembor 2024 (Continued) Fixed assets for use by the PCC Sl P8tar'$ Centre Furnishings and equipment Offlc8 equlpment Total (a}Tangible fixed assets Cosl/valu8tion At 1 January 2024 Addittons 47,273 10,582 57,855 At 31 December 2024 47.273 10.582 57,855 Depreuation At 1 January 2024 Charge for the year 47,268 10,577 57,845 At 31 December 2024 47,268 10,577 57,845 Nel lJoDk value At 31 Dec8mber 2024 10 At 31 Dec8mber 2023 10 {b) Invèslmonts Historic Cosl Fair valu8 2024 2023 Endowment Fund St Peter- Vincènt Trlvett Scholarship Fund 1,283 Units Central Board of Finance Inveslment Fund 1,246 29.666 29,002 St Peter- Vincent Triv8tt Organ Fund 1,308 Units Central Board of Finance Investment Fund 1,005 30.244 29.567 st James Church House Account 236.35 Units Charities Official Inveslment Fund 292 4.796 4,660 St Peter- Fabric and maintenance 3.984 Units Central Board of Flnance Investment Fund 4,502 92,120 90,058 7,045 156,826 153,287 Page 15
PARISH OF NOThINGHAM SAINT PETER AND ALL SAINTS Not63 fonning part of the financial Statoments for the year endad 31 December 2024 (Continued) Fixed assgts far use by the PCC (continuedj {b) Investmènts (continued) Historic Cost Falr valua 2024 2023 Restricted Fund St Peter Cobbin & Henson Bell Fund 521 Units Cenlral Board of Finan Inveslment Fund 483 12,046 11,777 st Peter Fabric & Maintsnance 2,182.44 Units Contral Board of Finance Investment Fund 1,829 50,463 49.334 2.312 82,509 61,111 9,357 219,335 214.398 2024 2023 At valualion 1 January 2024 Realisation Revaluation 214.398 195.997 4,937 18.401 Fair value at 31 December 2024 219,335 214.398 Cost at 31 De¢ember 2024 9,357 9.357 Investment Properties 2024 2023 Fair value At 1 January 2024 Revaluation 475.000 475.000 At 31 Decernber 2024 475.01)0 475.000 Investment proparties comprise All Saints Hall, 75 Raleigh Street and All Saints House. 14 All Salnt8 Street, Nottingham. The properties werè valued by Freeman & Mitchell, Chartered SuNeyors on 28 September 2017 on an open market value for existing use al £475,000. The properties were valued by the PCC a131 December 2024 and Ihay concluded that there has been no material change. Page 16
PARISH OF NOThINGHAM SAINT PETER AND ALL SAINTS Notes forming part of the financial statements for the year ended 31 De¢•mbor 2024 (Continued) Analysis of net assets by fund - 2024 Unrestrl¢tod Restri¢tgd Endowmpnt Funds Funds Funds Totsl Flxed assets 475,010 62,509 156.826 694.345 Current asset5 129,633 50.349 179,982 CUrnt IlabilFttes 123,277) 121 (23.279) Long tsrm liabilities 1300,000) {300,CwJO) Fund balane 281,366 112.858 156,824 551,048 Analysis of net assets by fund - 2023 Unrestri¢ted Restrl¢t8d Endowmont Fund5 Funds Funds Total Fixed assets 475,010 61.111 153.287 689,408 Current assets 166,777 59.771 226,548 Current liabilitses 117,802) (21 {17.804) Long term liabilities (300,000) (300.000) Fund balan 323,985 120.882 153,285 598,152 Doblors 2024 2023 Income tax recoverable 15,507 17.022 Other debtors 19.883 41.019 35,390 58,041 Investments- short terni dèposltg Cash held for investrment 41,018 58,719 10 Llabllltles: amounts falllng duo within one year Creditors for goods and servi 11,165 7,808 Other creditors 12,114 9,996 23.279 17,804 Page 17
PARISH OF NOTTINGHAM SAINT PETER AND ALL SAINTS Notes fornilng part of tho financial slatemenls for the year ended 31 Decembèr 2024 (Continu8dJ 11 Fund details The reslrlcted fvnd cornprls85: Balance at 31 Dec 2023 Balance at 31 Dec 2024 Income Outgoing5 Sl Peter- Fabric and Maintenance Sl Peter- Vin¢6nt Trivett Scholarship Fund for Choristers accumulated income Sl Peter- Vincent Trivett Organ Fund accumulated incom8 Overseas committee HR Cobbin Memorial Fund for the mainl8nan¢8 and repair of the Church bells and the Annetta Henson bequest for the benefit of Sl Peter's Bell Ringers Other coll8Ctions All Saints bell ringers All Saints Student Ministry Rev Gibson, D Coopar & H Evans Legacies for St Peter S M Dudley & J Sears LegaGies for All Sain15 Hardship Fund (Women ofFaithl Mary Evison- Rector Dlscrelionary 49.334 1.129 50,463 5.417 805 590 5,632 3,914 1,971 821 616 1,276 3,459 2,587 21.597 1,000 1,113 12,575 596 7,212 2,734 8,958 19,459 {746) 1,113 11,826 749 12,410 5,000 6,348 203 12,410 5,000 6,348 307 104 120,882 11,283 19,307 112.858 The Paanent endowmenl fund comprises: The Vln¢enl Trivett Scholarshlp Fund for Choristsrs The Vincent Trivetl Fund for the upkeep and the maintenance of tho organ The St Jarnes Church Hous6 A¢Unt for the upkeep of a church hall or room St Pètèr Fabric and Maintenance for the repair and maintenance of St Pet8rfs Fund Rgconciliation At 1.1.2024 Transfèrs Galnsl (Losses) Income Outgoings 31.12.2024 Unrestricted Funds Regtrlcted Funds Endowment Funds 323.985 120.882 153.285 344.617 9.885 387,236 19,307 281.366 112,858 156,824 1,398 3,539 598.152 354,502 406,543 4,937 551,048 At 1.1.2023 Gainsl Ilosses) At 31.12.2023 Transfers Income Outgolngs Unrestricted Funds Restrlcled Funds Endowmenl 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 Page 18
PARISH OF No1NGHAm SAINT PEfER AND ALL SAINTS Notes formlng part of the flnanclal stat8ments ft>r the year ended 31 cember 2024 (Contlnued) 12 Llabiliti•$'. amounts falllng due 8ftor one year To enabl8 the Iransfer of funds to Sl Mary lo bo affected, St Petsrfs Trust Funds have made a long tem unsecured loan of £300.000 repayable in 2027 to Ihe Parish. The loan bears interest at 5 /0 per annum. 13 Connected charities St Peterfs Trust Funds have objectivas r81ated to those of Sl Pelerfs Church and grants from these funds are included in these accounts. In 2024 £72,011 (2023 - £79.4901 was received from St Peter's Trust Funds. The Parish paid £15,000 {2023- £15,000) lo the Sl Peter'$ Trust Funds as interest on the ban of£300,000 made to Ihe Parish. The following additional small charities are administèred separately from the PCC by the Incumbont and Churchwardens- Brailhwalle Charity Seart)y Poor Fund Archie Shlpley Memorial and Aphra Wilson Prize Funds for the Bluecoat Academy Gowthorpe Sermon Fund 14 Sl Peter's Centre Calerlng Llmltéd The Company is engage(l in the sale of food and refreshments from St Peter's cellt and is under the dlrectlon of the PCC. Th8 whole of the issued share Capital of the company £2 is held by the Diocese of Southwell and Nottlngham Boarij of Finance on behalf of Ihe PCC. The turnover for the year to 31 December 2024 was £117,13912023'. £114,330) and direct expanses £122.245 (2023- £87.4721 resulling In a loss of £5,106. The profit for 2023: £26,858 was remitted to th9 PCC. The net liabililias of the company al 31 December 2024 were £5.104 (2023.. £2). 15 Leasos Total future minimum lease payments under non-cancellable operating leases are as follows: 2024 2023 Wilhin one year Betyvoen one and fve years 3.566 4,846 2,169 665 8,412 2,834 Lease payments made during th6 y8ar 3.164 2.318 16 Auditor's Remuneratlon Fees payable In respect of.. Audit Payroll 3,690 832 3,174 1,018 Page 19
PARISH OF NOThINGHAM SAINT PETER AND ALL SAINTS Notes fornilng part of the financial statements for the yoar •nd8d 31 Decembor 2024 (Continued) 17 Mls$ionary and charitable glving. Unrostrlctsd funds Reslrictsd funds Total 2024 Total 2023 Church overseas Missionary Societigs CMS 125 125 Rellef and develOpnnt agenoe$ Christian Aid 215 215 Turkish Earthquake Appeal 464 215 215 464 Secular Chapylles Workplace Chaplancy 52 52 289 Citizens UK 690 Mercy Ships 215 52 52 1,194 267 267 1,783 Page 20
Independent Exomlnarfs Report to the PCC members of the PARISH OF NOTllNGHAM SAINT PETER AND ALL SAINTS I report to tho charity trustees on my examination of the accounts of the charity for the year ended 31 December 2024, which are set out on pages 8 to 20. Responslbllltlès and basis of report As the charlty's trustees you are responsible for the preparation of the accounts in accordance with the requlrements of the Charities Act 2011 Ilhe Arf). I report In respect of my examination of the ¢harity'5 accounts caThied out under section 145 of Ihe Act and In ¢arrying out my examination I have followed all Ihe applicabl8 Directions given by the Charity Commisslon under seclion 145{5}(bl of the Ad. Since the charfty's gross income exceeded £250,01]O your examln8r must be 8 member of a body listed Sn section 145 of the Act. I conflrm thal l am qualified to undertake the examination because l am a member of The A5$0¢iation of Chartered Certlfied A¢¢ountants. Independent èxamln8Vs statement I have comp18t8d my examinatlon. I confirm that no material matters have come to my attention in conn8Ction with the examination giving me cause to believe that in any material respect: accounting records were not kapt in respect of the charily as required by sectton 130 of the Act. or the a¢¢ounts do not accord wlth those records" or the accounts do not Comply with the applicable requirements nCernIng th8 fom and content of a¢¢ounts sel out in tha Charities (Accounts and Reports} Regulations 2008 other than any réqulrement Ihat the accounts give a 'lrue and fair vi8W' which is nol a matter considered as part of an independent examlnalion. I have no concerns and hav8 across no olher matters in conneotlon with the 6xamination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be rtached. Karen Mealand FCCA Lemans 29 Arboretum Street Nottlngham NG14JA 4tsrC 2025 Page 21