Parochial Church Council of The Ecclesiastical Parish of St. Nicholas, North Walsham Approved working name: North Walsham P.C.C Annual Report and Accounts For the Year Ended 31 December 2024 Registered Charity Number 1130505 The Church of St Nlcholas, North Walsham Accounts For the year ended 31 December 2024 Contents Page Report of the Parochial Church Council Reportofthe Independent Examiner Statement of Flnanclal Actlvltles Balance Sheet Notes to the Financial Statements &15 2024Annual Report and Artounts forthe Pavochlal Church Coun¢ll of the Eccleslastlcal Parfsh of St Nlcholas Church, North Walsham. Reglrtered Charity No. 1130505 Approved worklng name North Walsham P.C.C. The Parochlal Church Councll IPCC) presents Its annual report and the Ilnanel•l st•tèmL)nt$ of the Church forthe year ended 31 December 2024 Referen¢e and admlnlstratlve Informatlon Church and correspondence address: St Nicholas Church. Market Place, North Walsham, NR28 98T Vi￿r. The Rev David Warner 28a Yarmouth Road, North Walsham, Norfolk, NR28 9AT Chuychwardèns: Petra Durham- from APCM 2024 Chris Hargest - end of term APCM 2024 Ex-offldo OfflcÈrs- Inon voting) Sheila Ford Anna Bright PCC setretary PCC treasU￿r El¢d¢d Members: Sandra Topham From APCM 2024 Shella Paterson End of term APCM 2024 Hilary Lawler End of term APCM 2024 Felicity Christian End of term APCM 2024 Chris Sherman End of tern) APCM 2024 Glenda Bacon From APCM 2022 TIM Blyth From APCM 2022 David Minns From APCM 2022 Dr Stephen WhFttleton From APCM 2022 Representstlves on the St Benet at Waxham afid Tunstead Deangry: Dr Stephen Whlttleton Glenda Bacon from APCM 2021 from APCM 2023 Independent examiner: Sexty and Co. Chartered Certified Accountants and Registered Auditors 124 Thorpe Road Norwich NRI IRS Page l of 15 The Church of St Nlcholas, North Walsham Report of the Parochlal Church Councll Icontlnued) For the year ended 31 December 2024 sTrucruRE, GOVERNANCE & MANAGEMENT The PCC Is a body corporate IPCC Powers Measure 1956, Church Representation Rules 20061 and a charity currently registered with the Charity Cornmi55ion, no. 1130505. Members of the PCC are either ex offlclo, elected by the Annual Parochlal Church Meeting IAPCMI or co￿pted in accordance wlth the Church Representstlon Rules. All current members are trustees of the charity. PCC members are responsible for making decisions on all matters of general concern and importance to the parish Including deciding on how the fund5 of the PCC are to be spent. The PCC Is also specifically responsible for the maintenance of the Church ot St Nicholas together with the adjacent Church Halls complex. Durlng the year there were no signlficant transactions involving PCC members or closely related persons. Objective5 & Activities The prlmary oblectlve of the PCC Is the promotlon of the Gospel of our Lord Jesus Christ accordingto the doctrines and practices of the Church of England. The PCC 15 requlred to cooperate with the incumbent, in promotin8 in the ecclesla5ticol parlsh, the whole mission of the Church. pa5tordl, evangelistlc. social and ecumenlcal. Publlc Benefft The trustees confirm that they have complled wlth the duty In sectlon 17 of the Charltles Art 2011 to have due regard to the Char￿Y Commlsslon's general guldance on publlc benefft, 'Charities and Public Benefit.. The PCC promotes the whole mlssSon of the church through the followlng activitie5- regular public worship open to all,. the provision of sacred space for personal prayer and contemplation: pastoral work including visitin8 the sick and the bereaved,. teachlng of Christianity through semions, cour5e5 and small groups; promotion of Chri5tianitythrou8h staging events and meetings (some ecumenicall. and the distribution of literature,. supportin8 other charities in the UK and overseas,. promoting an interest in music through concerts and recftals, the training of choristers and adult sin8ers- and the provision of Christian hospltallty, refreshment and frlendshlp to visltors via our Church Halls. Our Halls are also made avallable to a number of special need5 groups. We try to make the church as open and actesslble as posslble throuEhout the dayllght hours for both church members and the wider communltv. hlevements and P•rfomiance: Church Attendance The weekly Sunday attendance was 13012023: 1121 adults and 912023: 121 children The totsl number of communicants on Easter Day was 18412023.. 1971 The totsl number of communicants at Christmas was 18512023.. 1721 while the total number of attendees Christmas Eve and Christmas Day was 76312023: 7cNJI There were 912023: 181 baptlsm5 and 3112023: 361 funeral services and 112023: 41 weddings held in church Electoral Roll There are 120 on the Church Electoral Roll a5 at April 2024. ThÈ Buslness of the PCC 2024 The PCC Is updated on Safeguarding at every meeting and followed safe8uardinB and GDPR requirements Page 2 of 15 The Church of St Nichola8 North Walsham Report of the Parochlal Church Councll {Contlnued) For the year ended 31 De￿rnber 2024 A¢hlevements and Perlormance Icontlnued): Flnanclng The Statement of Financial Activities for the year 15 set out on Page 6 of the financial statements. A summary of the financlal results 15 a5 follows. The net incoming resources forthe year amounted to £101,32212023: £111,731). Total resources expended were £103.89412023: £110,266) resulting in a net deficit of £2,57212023 (net surplus): £1,465) The deficlt has been added to the relevant fund balances brought forward and at the balance sheet date, total funds amounted to £56,13812023: £58.7101. Revlew of the Year 2024 saw a year of stability and gentle growth. Congregations continued steadilyto grow. With no major works required, regular maintenance continued on the church bullding. We began to talk about the'Nicholas P"roject' and the important 80in8 forward of our safeguarding our herltage,.Sncreasing our mission and continuing to weave faith. hope and love throughout our community. Our worshipping lrfe on Sundays Is only part of the story- the church is used by countless folk each and every day. for reflection and quiet and for larger events too- funerals. baptisms, weddln85'. we are always open, always available, and always ready to Se￿e. We are grateful to all those who work hard. publlcly and privately, to support our life. our outreach and our ministry. our fete and Children'5 day are significant'earners, as well as vital fundraisers - fundraising is a constant and never gets easier, but we shall go onl Across the year we have sought to broaden our pastoial offering, Into schools, hospital and care homes, and 2024 saw the creation of our new pastoral team. Pastoral care of our community is our central, fundamentsl and essential purpose. We Bo forward, with much to be grateful for. much to offer, and much to hope In. We have a story folk want to hear, a place they want to see, and a Saviour who remains faithful in good times and bad. Thank you, all of you, for your part in telling that Story. Pa8e 3 of 15 The Church of St Nichola5, North Wa15ham Report of the Paro¢hial Church Coundl (Contlnued) For the year ended 31 December 2024 P•rothlal Church Coundl ￿sPOnsIbl11t1eS The PCC members are responsible for preparin8 the Trustees, Annual Report and the financial statements in accordance wlth appllcable law and United Kingdom kcounting Stsndard5 (United Kingdom Generally Accepted Accounting Practice). The trustee5 are required to prepare financial statements for each finantial year, whlch glve a true and fair vlew of the state of affairs of the charity and of the incoming resour￿5 and appllcatlon of resources, including income and expenditure of the charity for that period. In preparing these financlal statements, the trustees are required to: select sultsble accounting policies then apply them con5i5tentlyi obseNe the methods and principles in the Charities SORP: make judgments and estlmates that are reasonable and prudent; state whether applicable UK Accountin8 Standards have been followed, subject to any materfal departures disclosed and explained in the financial statements: and prepare the financial statements on the going concern basi5, unle55 It 15 inappropriate to wesume that the charitsble company wlll contlnue In operatlon. The PCC membersare responsible for keeplng adequate accounting records that dlsclose wlth reasonable accuracy at any time the financial position of the charity and enable them to ensure that the flnanclal statements complv with the Charities Act 2011. They are also responslble for safeguardlng the assets of the charitable charity and hence for taking reasonable steps for the pr￿ent10ft and detectlon of fraud and other Irregularities. Independent Examlner Mr A ONe5 FCCA FCA 15 willing to contlnue as independent examiner. A proposal regardingthe reappointment of MrAOrves FCCA FCA wlll be made atthe forthcoming Annual parochial Church meeting. wroved by the PCC on ... . and sl8ned on thelr behalf by.. The Rev David Warner- Vicar Ms Petra Durham- Church WÈrden Page 4 of 15 The Churth of St N[d￿las, North Walsham Independent Examinerfs Report to the Parnchial Church Councll of the Church of St Nlcholas, North Walsham For the year ended 31 December 2024 I report to the charity trustees on my examlnation of the accounts of the charity for the year ended 31 December 2024 whlch are set out on pages 6 to 15. Responslbllltles and basls of report As the charl￿5 trustees you are responslble for the preparatlon of the accounts In accordance with the requirements of the Charltles Act 20111'the Aev). I report In respect of my examlnatlon of the thèrltvs attounts carried out under section 145 of the Act and in carrying out my examination I have followed all the appllcable Directions given by the Charity Commlsslon under sectlon 14515llbl of the Act. Independent ex8mlner'$ slatement I have completed my examination. I confirm that no materlal matters have come to my attention In connection with the examination giving me cause to believe that in any material respect: accountin8 records were not kept in respect of the charity as required by Section 130 of the Att: or the actounts do not accord with those records,. or the atcounts do not comply with the applicable requirements concerning the fom) and content of accounts set out in the Charities (Accounts and Reports1 Regulatlons 2008 other than any requirement that the accounts glve a true and fair Vie￿ which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report In order to enable a proper understanding of the account5 to be reached. A Oryes FCCA FCA Forand on behalfofsexty & Co Chartered Certified Accountsnts and Registered Auditors 124 Thorpe Road Norwich NRI IRS Dated., Page 5 of 15 The Church of 5t Nlcholas. North Walsham statement of Financial Activttie5 For the year ended 31 Dttember 2024 Totsl 2024 Total 2023 Note Unrestrlrted Designated Restrlcted INCOMING RESOURCES All givin& voluntary & collection receipts Planned Biving Donations Legacles Grants/VAT Reclalmed Gift Aid recovered Investment income Fees weddinglfunerals Church activities Tradin8 income Other Income 5a 5b sc 8,815 30,278 6.843 2,5(KJ 8,815 30,278 12,164 2,500 1,698 10,231 1.171 3,546 9,246 20,438 9,597 29.951 5.309 5,321 sd 1,698 iO.OCk) 9,629 58 3,481 9,207 31,387 2.392 9,836 1,171 3,546 7.321 13.594 1,044 395 570 4,784 1,355 2.060 sf Totsl Incomlng resources 84,948 7,052 9,131 101.131 iii,oii RESOURCES EXPENDED Parish share Clergy and staffing costs Church rLtnnSn8 expenses Church tradlng costs Mission giving and donations Building work and repairs Other expenditure Cost of generating funds 37,330 9,557 16,787 16.599 37,330 9,557 19,157 19.103 34.610 8.889 16.445 23.883 6a 6b 2.370 90 5.101 2.306 577 90 13,534 4,546 577 6d 6e 8,433 171 22.072 3.877 490 2.069 Total resou￿*5 •xpended 88,347 10,974 4,573 103,894 110,266 (Decreaselhnerease In funds 13,3991 13,9221 4,558 12,7631 745 Increase I (decrease) in market value Df Investment 191 191 720 14et (DKrease /ln¢rease In fund5 13,3991 13.9221 4.749 12,5721 1.465 Re￿r￿ br¢x•ght foTh¥ard at l January 2024 11,351 15,397 31,962 58,710 57,245 7,952 11.475 36.711 56,138 58,710 Transfers 15,4181 5,418 Resèrves earrled forward at 31 t>ecembgr 2024 7.952 6,057 42,129 56,138 58.710 Page 6 of 15 The Church of St Nicholas. North Walsham Balance Sheet For the year ended 31 December 2024 2024 2023 Fixed A55ets Investments 8.555 8.364 Current assets Debtors & prepayments Cash at bank and in hand 4,608 60,762 8.907 63,927 Total current assets 65,370 72.834 Current Ilabllltles Creditors amounts falling due within one year io 17,787 22,488 Net current assets 47,583 50,346 Total net a￿ets 56.138 58,710 Parish funds General Designated li li 7,952 6,057 11,351 15,397 Total unrèstricted 14,009 26,748 Restricted li 42,129 31,962 Totsl funds 56,138 58,710 Approved by the Parochial Churth Councll on ...gfl.ri.tr . and signed on Its behalf bv:" The Rev D Wamer-vicar Ms Petra Durham-church Warden PaBe 7 of 15 The Church of 5t Nicholas. North Walsham Notes to the Financlal Statements Foi the year ended 31 December 2024 AccovririNG POLICIES Basls of preparatlon These accounts Ifinanclal statements) have been prepared under the hlstorScal cost conventlon wlth Item5 recognised at cost or transartion value unless otherwlse stated In the relevant notes to these accounts. The financial ststements have been prepared in accordance with the Statement of Recommended Prartice.. Accountin8 and Reporting by Charities preparlng thelr accounts In accordance wlth the Flnanclal Reportlng Standard applicable in the UK and Republic of Ireland IFRS 1021 Issued on I6ju￿ 2014 and Flnanclal Reportlng Standard applicable in the United Kingdom and RepublK of Ireland IFRS 1021 and Charltles Art 2011. The tharity constitutes a public benefit entity as defined by FRSIO2. Investment assets are shown at fair value at the year Ènd. These accounts are prepared on an accruals basls and include all transactions, assets and liabilities for which NWPCC Is, In law. responslble, These accounts exclude the accounts of church groups le.8. Mothers Unionl wherethese are affiliated, malnly* to another bodys or where these are informal groups of Churth members. Ilbl Flxed Assets Consecrated and benefice properties are not included in the accounts in accordance wlth 510121 {al and Icl of the Ch3rStSes Act 2011. Moveable Church fumlshlngs, plate, etc. held by the Vicar and Churchwarden5 on special trust and which reqLFire a faculty for di5P05al are inalienable property. These are listed in the Church's inventory and may be inspected at reasonable notlce. Income received which is specifically directed to the acqu151tion or Improvement of Church property, fumishin8s or fabric15 re¢oAni5ed in the Church accounts when received and the correspondin8 expenditure is shown In the church accounts when it 15 incurred. Any small value items are normally written off as Incurred. Ilcl Reswvès It Is the policy of the PCC to.. Use reserves In pra¢tl¢al waysthat promote and sustain the pastoral. evangelical, social and ecumenical mission of the Church rather than holding on to them unnecessarity or without specrfEC purpose. tt wishes to demonstrate the princlples of a(￿lIntablIttY and transparency by clearly statin8 Its intentions to the congregation and the communlty whlch It serves. It Is also policyto review all reserves at least annually with a view to bringing fon¥ard suitable expenditure projects or (where permisslble In lawl re-asslgning balances. Ildl In¢omlnz ftesour¢es Collection5 and donat￿n$ are recognlsed when made. Income Tax recoverable on gift aid donations 15 reco8nised when thè intome is rècognised. Income from the letting of church premises is accounted for when earned. Funds raisèd by thè fète and similar events are accounted for gross. Sales of books and magazines from the church bookstall are accounted for gross. Parochial Fees due to the PCC for weddings, funerals etc are accounted for on an event by event basis. Government grants are reco8nised when the charlty has entttlement after any performance conditions have been met, it is probable that the income will be received and the amount ¢an be measured reliabl¥. If Èntltlement Is not met then these amounts are deferred. Page 8 of 15 The Church of St Nicholas. North Walsham Notes to the Flnanclal Statements (Continued) For the year ended 31 December 2024 I Investmètyts 21al The PCC h35 ownership, throu8h Norwich Di￿san Board of Finance Ltd. of 370 Income shares in the CBF Church of England Investment Fund. The wdlue of the shares together wlth income arlsong from year to year Is Restricted for the purpose of contributing to the cost of the In¢umbenYs expense5. 21bl Reserves, where practical. are invested In the CBF Church of England Fund to attract a return. 21cl The PCC does not normally invest separately for each fund, such that. where there Is Tr) separate investment interest Is apportioned pro rats to fund balances. 3. Credltors Creditors shown on the balance sheet are amounts falling due within one year and include any Contlngent Llabllity arising from contracted servlces at valuatlon for which no demand for payment has been received. 4. Debiors Debtors shown on the balance Sheet Include any tontingent Asset arlsing from amounts due In respect of a8reed grant claims from Grant Making Bodies where payment has not been received. Page 9 of IS The Church of St Nlcholas. North Walsham Notes to the Flnanclal Statements (Continued) For the year ended 31 December 1014 5. INCOMING RESOUR￿ {Detalll Total 2024 Totsl 2023 Unrestrlrted Deslgnated Restrlcted 5a General Collections Collertions Gift Aided 5.217 3,598 5,217 3,598 6,734 2,863 8,815 8,815 9,597 5b Glvlng lstsnding orderl Giving lenvelopesl 27.928 2,350 27,928 2,350 27,104 2,847 30,278 30,278 29.951 Sc Wallboxes Donations Candles Donatlons- General Donatlons- Glft Alded Donatlon5- Music Fund 1,532 1,016 4,295 1,532 1,016 4,295 321 1,924 1,151 1,914 320 321 5,000 6,843 5.321 12,164 5.309 Sd Grants-LPW Grdnts- Norwich Diocese 1,698 1,698 io,ooo 1.698 1,698 10,000 Coffee mornlng Church Fete Flower Fund Music Fund Audio Trial Bookstall Fabrlc Fund other fundralslng 1,388 1,388 1,352 1,665 507 938 90 20 938 90 20 570 307 5,933 570 518 114 307 5,933 7.321 570 1,355 9,246 9.207 sf Halls Rental income Ha115 Grant Income- NNDC Halls Other Income Halls FundraisinB Income Church Rentsl Income Magazine 13,594 13.594 19,710 7,162 230 1,830 230 1.830 4,134 650 1,690 2,303 522 4,134 650 13,594 4,784 2.060 20,438 31,387 Page 10 of 15 The Church of St Nitholas, North Walsham Notes to the Financial Statements (Contlnued) For the year ended 31 December 2024 6. RESOURCES EXPENDED {Delail Totsl 2024 Total 2023 Unrestrlrted Desi8n•tsd Restrfrted Clergy expenses SalarieslhonorarSa 1,114 8.443 1,114 8.443 940 7,949 9.557 9.557 8,889 Gas & electricity aeaning Service Costs Telephone, statlonery Professional Fees Accountlng costs Insurance 4,167 4,167 4.699 98 649 545 545 PrintinB 3.176 3.176 2,370 1,356 7,543 3,627 2.370 1,356 7,543 1,290 6.082 16,787 2.370 19.157 16,445 Halls Salarie5 Halls Ga5 & Elertricity Halls Cleaning Halls Maintenance Halls Water Rates Ha115 Sundry Runnln8 Costs Halls Equlpment 7.180 7,160 1,254 408 400 197 7,180 7,160 1,254 2,437 6,790 4.102 1,257 3,492 162) 346 7.958 2,029 197 475 475 16.599 19.103 23,883 6d Church Maintenance Church Equlpment 4.898 203 8,433 13,331 203 21,454 618 5,101 8.433 13,534 22,072 PaBellof15 The chU￿h of St Nlcholas North Walsharn Notes to the Financial Statements (Contlnued} For the year ended 31 December 2024 6. RESOURCES EXPENDED (Detsllllconllnued Totsl 2024 Tot*1 2023 Unrestrlcted Deslznated Restri