2024-12-31-accounts

Annual Report and Financial Statements. The Parochial Church Council of the Ecclesiastical Parish of St Kea ~~—~~ Year End 31st Dec 2024 Registered Charity Number 1130762

Address for correspondence: Kea Church Office, Kea, Truro, TR3 6AE Incumbent: Marc Baker Independent Examiner: Andrew Harry Tel: [phone] Email: [e-mail]

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Contents.

Contents Page

Annual Report Independent Examiner’s Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements

Annual Report.

Aims and Purpose

St Kea’s vision is summed up in the phrase “Seeing God transform lives”. As a church, we are committed to helping everyone join in this great adventure as God transforms us into the people we were made to be.

Objectives and Activities

We seek to be engaged with the world around us and committed to evangelism, sharing the good news of Jesus with those who do not know him. We want to see all Christians established in - and deepening - their faith as they seek to live for Jesus. We also want to equip everyone for the unique life God calls them to live. In summary we long for everyone who lives and works in Truro and beyond to have the opportunity to receive the gospel from someone who loves them.

We seek to achieve these things through our weekly church services across our congregations, through our many Small Groups that meet through the week and through a pastoral support network for the church family and those living in the communities around us. We also engage in outreach to promote the Christian faith with youth and children in the church family and local schools and through our work with Christians Against Poverty (CAP) and our partnership with The Dockyard Collective. We are active in training and enabling church members to lead and participate in our various ministries. We encourage generous giving of the resources we have and are committed to enabling all these things through prayer. We support gospel partners locally and, through UK-registered charities, further afield.

En a e and Evan elise g g g

Community Engagement and Outreach

In 2024, we continued our work of enabling church members to be engaged in the world and we continued to grow ways in which we could share the gospel with many (evangelise). In fact, in September, we launched a new Small Group series that would run into 2025, focusing specifically on this theme called Engage.

We continued to reach out to Children and Young People and their families, and in 2024, we made plans to grow our work through the appointment of a dedicated full-time Youth Worker. Our work with Christians Against Poverty continued to strengthen. We committed to recruiting a new CAP Debt Coach and to grow our work using The Word One To One. We continued to support the work of The Dockyard Collective in reaching out, being the employing body for Dockyard staff. We continued Dockyard Community Cafe, ran a series of Summer activities including a Day on Trelander, and developed plans to launch the Living Room in River Street. St Kea regularly hosted Hope Explored, a short course to help people explore the Christian faith. Christ Church made plans to launch Meals with a Message, having attended and been encouraged by the national Evangelism Conference. We also continued to host outreach-focused services at different points of the year, including Easter and Christmas. Our work in schools also continued.

Of course, the vast majority of our engagement and evangelism happens through the everyday life of church members, in their workplace, amongst friends, and in their communities. We sought to promote and encourage this through our Autumn preaching series in Mark’s Gospel as we reflected on the unstoppable expanding growth of God’s kingdom.

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Annual Report.

En a e and Evan elise g g g Congregations, Small Groups and Training

In 2024 we continued to develop the life of our congregations at Christ Church, St Kea and Old Kea. We also supported the congregations at St John’s and Kenwyn, in anticipation of the coming together of those churches to form Trinity Church. We established a joint council between the churches, made up of PCC members from each church. The joint council focused on the structures that would be needed for our new church, with a particular focus on Finance and Safeguarding.

Across our congregation we continued our focus on the preaching and teaching of God’s word with key series in Ephesians and Mark, as well as a focus on the generosity of God. Small Groups completed their series called Enable, before launching Engage. The main means of providing pastoral care is through Small Groups, but in 2024 the Pastoral Care Team continued to minister to many who are unwell or housebound.

Training is a high priority and in 2024 we continued preachers’ training on Thursday mornings as well as termly meetings with Small Group Leaders and Service Leaders. We continued to send people for training, including Erica continuing at St Mellitus, and Andy who entered his second year of curacy. The Women’s Ministry Team continued to develop their work across Trinity, hosting regular breakfasts while developing plans to grow their work in 2025, including the launch of a new book group.

We want prayer to be the key enabler for all our activities and in 2024 we continued to host regular prayer meetings across the church family and encourage a growth in prayerfulness. St Kea developed its Fellowship Evening and we continued to hold termly meetings for news and prayer for all Trinity churches.

Gospel Partnerships

At St Kea we are committed to working in partnership with other gospel centred ministries. We have a number of specific mission partners who we support through our prayers, finances and in many other practical ways.

As a church we support Richard and Riekje Wallace. After a number of years ministering around the world, Richard and Riekje are now based at Datchet Baptist Church. Alongside pastoring the congregation there, Richard travels throughout the year with the Global Training Network to Cuba, Ethiopia and Sierra Leone focusing on the training and multiplication of local church leaders.

We continue to support Mercy Rescue Trust, which is a baby rescue centre in Kitale, Kenya, seeking to secure foster parents and long term futures for abandoned children.

Truro Foodbank is still close to our heart as it was originally founded by church members at St Kea and several members of Kea are still deeply involved in its management. Since those early days St Kea has joined with others to support this important work.

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Annual Report.

Structure, Governance and Management

The statutory role of the Parochial Church Council is to co-operate with the incumbent “in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social, and ecumenical”. The PCC is, by law, a body corporate and a registered charity (Charity number 1130762). The PCC is responsible for maintaining the fabric of the churches and churchyard and other property held in trust by the parish, and for the financial affairs of the parish.

Members are elected to the PCC at the APCM (usually held in April) and can serve in office for a period of up to three years. Members of the St Kea electoral roll can stand again for PCC or Deanery Synod membership at the end of a three-year term.

The Standing Committee has been authorised to transact items of business on behalf of the whole PCC and to develop major proposals to the point at which they are ready for discussion by the PCC meeting.

The members of the Standing Committee comprise: The Incumbent, Churchwardens, PCC Secretary, PCC Treasurer, PCC Human Resources (HR) Lead, a PCC representative and Church Manager.

Each congregation and Ministry Area is led by small Leadership Teams, appointed by the PCC with delegated responsibilities.

Deaner S nod y y

The main efforts across the Deanery were to see the Deanery Plan implemented. In 2024, significant steps were taken with the appointment of Caroline Husband to the Probus Mission Area and the approval by the Church Commissioners for the Roseland Pastoral Scheme.

In the Truro Mission Area, a change request was approved by the Diocese of Truro for St Allen and St Clement to form a new Benefice. This opens the way for the Pastoral Scheme for Trinity to be published. This is the legal means by which St John’s, Kenwyn, and St Kea might be able to come together.

The Bishop of Oswestry worked with the Bishop of Truro to prepare for a minister to be appointed to St George’s. Plans were also made for the future of All Saints Highertown after the retirement of their current lead minister, scheduled for 2025. Towards the end of the year, Marc Baker confirmed he would be stepping back from his role of Rural Dean at Easter 2025.

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Annual Report.

Buildings

Kea Church PCC created a property sub-committee in 2023 to bring more focus onto property related matters. The sub-committee reports to each PCC meeting, giving an opportunity for PCC members to ask questions about the projects being undertaken, and to feed ideas to the committee. Members are Alan Stanhope (convenor), Jerry Sharp, Martin Handford, Geoff Aver, Jonathan Larkin.

The sub-committee is about action, with several projects having been completed in 2024, and several more planned for 2025. Our touch stone is the Quinquennial Review (QR), conducted by the diocese surveyor. The QR identifies the items of maintenance needed and the timescales for work to be done.

Our main property is All Hallows Church, but Kea Church also includes Church Cottage, All Hallows Church Hall and Old Kea Church. The property sub-committee undertakes and/or organises maintenance and development projects on all of these. We are grateful for the gardening provided by grounds teams at All Hallows and at Old Kea. Both teams are independent of the property sub-committee.

The QR identified the need to refurbish and paint all the gutters and downspouts – this work was planned for Oct 2024, but had to be deferred because of the uncertainty arising from failure of the boiler. Budget was rolled forward into 2025, for the painting, and we expect to do this work shortly. The South porch needs refurbishment and this work is planned for 2025, subject to cost.

In 2024 there were 3 essential tasks – to urgently replace the failed boiler, to improve the safety of parts of the church floor and to replace the failing lighting. The cost of these 3 items was more than the available budget, so a targeted appeal to church members was organised. The generosity of church members was evident, and the target of £16, 500 was achieved, enabling all 3 projects to go ahead. The floor area used by the band, is in need of repair – we plan to complete this work and replace the remaining carpet to match, in the next few months. Design work continues on the proposed disabled access toilet.

The PCC is grateful for the considerable amount of day-to-day maintenance work undertaken by Ben and Sian Goddard.

After more than a decade of trying, the decaying stonework and pillars inside Old Kea church, have been refurbished at the start of 2025. This is a major milestone, to be celebrated on Sunday 27th April at 3.30 in (of course) Old Kea Church. By this time the inside of the church will have been repainted. To guard against damp, it is planned to improve external drainage.

Church Fabric

The fabric includes the two churches - All Hallows and Old Kea - and associated churchyards, and the church hall and church cottage at All Hallows.

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Annual Report.

Safe uardin g g

This year, we have been using the Parish Dashboard; an online platform for aiding Parish Safeguarding Officers with requirements within the church and all of our activities. While it still requires some updating around training for specific roles within the church, progress is being made. The Church Office have taken on the task of monitoring and updating the dashboard as it is of high importance to the church.

Safeguarding concerns have been followed up quickly and we are grateful for the ongoing support of the safeguarding team at Truro Diocese. Safeguarding is on every PCC agenda and is at the heart of everything we do.

Financial Review

Total receipts on the unrestricted General Fund were £217,784 (2023 - £218,021) and payments from this fund totalled £175,146 (2023 - £163,572), giving a surplus of £42,638 (2023 – £54,449). There is a net transfer into the unrestricted funds related to capital spend purchased from restricted funds.

In addition we secured restricted funding for:

LICF – Truro Diocese provide funding for Lowest Income Communities work to the Powder Deanery. As the deanery is not a legal entity, the work is devolved to St Kea for the purposes of operations and employment. In 2024 the income totalled £61,742 (2023 - £35,244).

CAP Christmas fund and Debt Coach – an appeal was made to support the Christmas party for clients of our CAP Debt centre, and for to enable the employment of a part-time Debt Coach to commence in 2025. Income totalled £22,480.

There was also a restricted donation received of £5,000 to cover the cost of new chairs for the Christ Church congregation in readiness for their move to River Street in 2025.

Old Kea and designated funding for All Hallows – For repair and renovation of electrical systems and general building fabric. Income totalled £17,727

Income from the Parish Giving Scheme, standing orders and weekly envelopes (‘Planned Giving’) increased by around 1%, and we continue to encourage all regular givers to use the Parish Giving Scheme. We have contactless terminals at all locations which can collect gift aid data to maximise their giving potential.

The contribution to the Diocesan Ministry and Mission Fund – which helps towards the cost of stipends and housing costs for the clergy – increased to £55,277 this year.

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Annual Report.

Reserves Polic y

The Charities Act requires charities to have a purpose in holding onto money or, in this case, unrestricted reserves (“reserves”). It could affect the level of giving by church members if, in their view, the PCC held onto large sums of money without a reason for doing so. The PCC’s policy is therefore to hold sufficient reserves to cover its normal operating expenditure* for a specified minimum period in the event of an emergency that caused a sharp reduction in the church’s regular income. An example of such an emergency would be a sudden increase in deaths, leavers or changed financial circumstances among significant givers in the church family.

The PCC will ensure that sufficient reserves are maintained to meet at least three months’ normal operating expenditure. Reserves will be held in a notice deposit account at no more than 35 days’ notice. During periods of low interest rates and in the absence of alternative safe means of holding reserves, trustees prioritise the prudent practice of maintaining a minimum level of reserves over the return generated on them.

*Normal operating expenditure includes the costs of the church’s outreach and discipleship activities, its staff team, clergy, buildings, online ministry, youth and children’s ministry, its work with Christians Against Poverty and gospel partnership initiatives locally and internationally.

Administrative Information

The Parish of St Kea covers an area that includes Killiow, Playing Place, Calenick, Porth Kea and Coombe. There were 156 people on the electoral roll of the Parish of St Kea as at the 2024 Annual Parochial Church Meeting on 17th April.

The PCC employed the following ten members of staff in nine roles during the year:

Associate minister responsible for All Hallows, Youth & Families: The Rev. Hugh Barne (full-time) Christians Against Poverty Centre Manager: Natalie Gavan (Part-time 22.5 hours per week) Church Administrator : Debra Stanhope (Part-time 15 hours per week)

Church Manager: Vicki Cooper (Part-time 12 hours per week - maternity leave from Feb 2024) Leadership Assistant: Vicki Cooper (Part-time 10 hours per week - maternity leave from Feb 2024) Maternity cover Leadership Assistant: Iain Brunt (part time 8 hours per week from Jan 2024)

Youth and Families Worker: Lisa O’Kane (part time 10 hours per week Mar - May 2024)

Youth Worker: Naomi Harwood (Part-time 10 hours per week from Sep 2024)

Power Deanery funded LICF youth support worker: Sam Payne (part time 15 hours until Sep 2024)

Powder Deanery funded LICF family support worker: Millie Boroughs (22 hours per week from Jan 2024)

In addition to paid staff, St Kea offers an internship training scheme. This is not a paid role; interns can apply for bursary support funding from St Kea to support their living costs, although this is not guaranteed. Sadly we could not find an intern for 2024.

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Annual Report.

Administrative Information

PCC members who have served from 1st January 2024 until the date this report was approved were:

The Incumbent: Rev. Marc Baker (Chair)

Church wardens: Neil Bridle, Martin Handford (until April 2024), David Knights (from April 2024)

Titular warden of Old Kea*: Alison Brown

Associate minister St Kea, Youth & families: Rev. Hugh Barne

Associate minister St Kea, Priest-in -charge St John the Evangelist: Rev. Will Harwood

Deanery Synod Reps and Trustees: Jonny Alford, Sian Goddard, Alan Stanhope

Elected Members and Trustees: Ben Goddard (Treasurer), Peter Emms, Matt Gavan, Tony Balmer, Natalie Russel (Until May 2024), Stephen Baird (until April 2024), Miriam Molyneux (from April 2024), Pete Batten (from April 2024), David Malindine (from April 2024), Martin Handford (from April 2024) Ex-officio: Vicki Cooper (Church Manager), Sue Sharp (secretary)

*The Titular Warden of Old Kea is regarded as an honorary member of the PCC but does not normally attend PCC meetings and is not a trustee.

Church address:

The Church Office, Churchtown, Killiow, Truro, TR3 6AE

01872 262868 [e-mail] www.stkea.org.uk

Charity Registration No: 1130762

Bankers:

Lloyds Bank plc, 7 Boscawen Street, Truro, TR1 2QT

Nationwide Building Society, Kings Park Road, Moulton Park, Northampton, NN3 6NW

Independent Examiners:

Andrew Harry & Debbie Risborough, Cornwall Community Accounting Service, www.cornwallcas.org.uk 01209 418056

A roval pp

This Report was approved by PCC on xxxxxxx 2025 and signed on its behalf by:

M Baker Ben Goddard

__ __

Rev Marc Baker (Chair) Mr Ben Goddard (Treasurer)

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Independent Examiners Report

Re ort p

I report on the accounts of the charity for the year ended 31 December 2024 which are set out on pages 10 to 21.

Respective responsibilities of trustees and examiner

The PCC Members (trustees) are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the 2011 Act”). The trustees consider that an audit is not required for this year under section 144(2) of the 2011 Act and that an independent examination is needed.

The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Association of Chartered Certified Accountants.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

• -examine the accounts under section 145 of the 2011 Act;

• -follow the procedures laid down in the General Directions given by the Charity Commission under section 145 (5)

(b) of the 2011 Act;

• -and state whether particular matters have come to my attention.

Basis of independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

• 1) which gives me reasonable cause to believe that in any material respect the requirements:

o to keep accounting records in accordance with section 386 of the Companies Act 2006 and section 130 of the 2011 Act; and

o to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met;

2)or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

....................................................... …………………………… Debbie Risborough, Chartered Certified Accountant Date: Cornwall Community Accountancy Service The Elms, 61 Green Lane, Redruth, Cornwall TR15 1LS

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Statement of Financial Activities.

Re ort p

The Parochial Church Council of the Ecclesiastical Parish of St Kea, Truro Statement of Financial Activities

Income and endowments from: Donations and legacies Charitable activities Investments Other Total Charitable activities Total Net income/(expenditure) before investment gains/(losses) Net income/(expenditure) Transfers between funds Other recognised gains/(losses): Gains and losses on revaluation of fixed assets for the charity’s own use Other gains/(losses) Net movement in funds Reconciliation of funds: Total funds brought Total funds carried forward for the year ended 31 December 2024 Restricted income Unrestricted funds 2024 funds 2024 £ £ Note 7 4 5 6 198,258 16,727 2,799 - 217,784 175,146 175,146 42,638 42,638 7,504 49,187 62,782 - - 111,969 64,970 64,970 46,999 46,999 (7,504) - - - - 50,142 837,120 887,262 39,495 110,201 149,696	Total funds 2024 £ 247,445 79,509 2,799 - 329,753 240,116 240,116 89,637 89,637 - - - 1,036,958 89,637 947,321	Prior year funds 2023 £ 281,594 47,233 4,837 -
		333,664
		224,042
		224,042
		109,622
		109,622 - - -
		109,622 837,699
		947,321

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities

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Balance Sheet.

The Parochial Church Council of the Ecclesiastical Parish of St Kea, Truro Balance Sheet

As at 31 December 2024

Fixed Assets Tangible Assets Investments Current Assets Debtors Cash at bank and in hand Creditors: Amounts falling due within one year Net current assets Total assets less current liabilities Net assets The funds of the charity: Restricted funds Unrestricted funds Other reserves Unrestricted income funds Total unrestricted funds Total charity funds Note 11 12 13 14 15 15	£ 2024 £ 532,452 168,000 7 00,452 206,673 680,589 3,242 345,463 348,705 (12,199) 3 36,506 1,036,958 1 ,036,958 149,696 8 87,262 1 ,036,958	£ 2023 £ 500,000 168,000 668,000 183,990 653,130 10,080 273,101 283,181 (3,860) 837,120 947,321 279,321 947,321 947,321 110,201	£ 2023 £ 500,000 168,000 668,000 183,990 653,130 10,080 273,101 283,181 (3,860) 837,120 947,321 279,321 947,321 947,321 110,201
	348,705 (12,199)	283,181 (3,860)
	206,673 680,589	183,990 653,130
			,
			837120 110,201
			,
			947,321

Approved by the Board on 21st May 2025 and signed on its behalf by:

Ben Goddard Trustee

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Notes to Financial Statement.

The Parochial Church Council of the Ecclesiastical Parish of St Kea, Truro Notes to the Accounts

1 Accounting policies

1.1 Basis of accounting

The accounts have been prepared under the historical cost convention and in accordance with: - 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 Republic of Ireland (FRS102) second edition - October 2019 (effective 1 January 2019); - the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102); - the Charities Act 2011 - Church Accounting Regulations 2016

The financial statements are prepared in sterling which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The charity constitutes a public benefit entity as defined by FRS102

The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation ot another body, nor those that are informal gatherings of church members.

1.2 Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

1.3

Fund accounting policy

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.

Designated funds are amounts that are allocated for specific purposes by the charity itself.

Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Revaluation funds are unrestricted funds which include a revaluation reserve representing the

restatement of investment assets at their market value.

1.4 Income

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS102 SORP or FRS102.

Items of income are recognised and included in the accounts when all of the following criteria are met: ꞏ

• ꞏ the charity has entitlement to the funds;

anyperformanceconditionsattachedtotheitem(s)ofincomehavebeenmetorarefullywithin the control of the charity;

• ꞏ there is sufficient certainty that receipt of the income is considered probable; and

• ꞏ the amount can be measured reliably.

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Notes to Financial Statement.

Donations and legacies are voluntary income received by way of donations and gifts. It is included within the accounts when receivable and only when the charity has unconditional entitlement to the income.

Tax reclaims on donations and gifts are included in the accounts at the same time as the gift/donation

to which it relates

Donated goods and services are only included in income (with an equivalent amount in expenditure)

where the benefit to the Charity is reasonably quantifiable, measurable and material.

The value of services provided by volunteers is not included within the accounts.

1.5

Resources expended

Liabilities are recognised where there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and includes the attributable value added tax which cannot be recovered.

Grants payable are charged in the year when the offer is conveyed to the recipient except in those

cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities

and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs are the those costs required to support the charity in carrying out its activities and meeting its objects.

Governance costs include costs associated with meeting the constitutional and statutory requirements

of the Charity, including the preparation and examination of the statutory accounts, the costs of trustee meetings and other costs linked to the strategic management of the Charity including the cost of any legal advice to trustees on governance or constitutional matters.

Tangible fixed assets and depreciation Consecrated Land and Buildings and Moveable Church

1.6 Furnishings

Consecrated and beneficed property is excluded from the accounts by s10 (2) (a) of the Charities Act 2011.

Movable church furnishings held by the vicar and Churchwardens on special trust for the PCC and

which require faculty for disposal, are accounted for as inalienable property unless consecrated. They are listed in the church’s inventory which can be inspected (at any reasonable time). For inalienable property acquired prior to 2003 there is insufficient cost information and therefore such assets are not valued in the accounts. Items acquired since 1st January 2003 have been capitalised and depreciated in the accounts over the current anticipated useful economic life (initially over 4 years) on a straight line basis. All other assets costing more than £1,000 are capitalised.

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Notes to Financial Statement.

Re ort p

T angible fixed assets are stated at cost less depreciation . Depreciation is provided on all tangible fixed

assets at rates calculated to write off the cost less

estimated residual value of each asset over its expected useful life, which is reviewed annually. The rates used are as follows:-

Freehold property

• Nil - The freehold properties, Church hall and church cottage are shown at market valuation. The valuation was undertaken on 28th February 2017 by Philip Martin & Co, Truro, FRCS. The valuation was made at market value assuming vacant possession

Church Development -10% straight line

Fixtures and fitting -10% straight line

Fixed asset investments

The investment is a Mission Housing Equity Loan which is linked to a property. The rent paid on this property is reduced as a result. Any gain or loss on the investment will only be realised on sale. A review of the investment valuation will be undertaken every 5 years.

1.7

• 1.8

• Taxation The charity is exempt from corporation tax on its charitable activities.

• Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount

offered.

Prepayments are valued at the amount prepaid net of any trade discounts due.

1.9 Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.10

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.11 Pension costs

The charity operates a defined contribution pension scheme. Contributions are charged in the

statement of financial activities as they become payable in accordance with the rules of the scheme.

1.12 Leases

Rentals under operating leases are charged to the statement of financial activities on a straight-line basis over the lease term.

1.13 Statement of cash flows

The charity is exempt from preparing a statement of cash flows on the grounds that it is a small charity

2 Organisation Status

The charity is an unincorporated charity and has no share capital. The charity is registered in England. The members of the charity are the trustees named on page 1.

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Notes to Financial Statement.

3	Statement of Financial Activities - prior year	Statement of Financial Activities - prior year		Restricted
		Unrestricted		income
			funds	funds	Total funds
			2023	2023	2023
			£	£	£
	Income
	Income and endowments from:
	Donations and legacies Other trading activities Investments Other Total		1 99,201 9,523 4 ,837 4,460 218,021	115,643 115,643	314,844 9,523 4,837 4,460 333,664
	Expenditure
	Expenditure on: Charitable activities		1 63,572	60,470	224,042
	Total		163,572	60,470	224,042
			54,449	55,173	109,622
	Net income/(expenditure) before
	investment gains/(losses)
	Net income/(expenditure)		54,449	55,173	109,622 -
	Other gains/(losses) Net movement in funds		54,449	55,173	109,622
	Reconciliation of funds:
	Total funds brought forward		791,512	46,187	837,699
	Total funds carried forward		845,961	101,360	947,321

Please note that comparative figures have been reclassified in the current year.

4	Donations and Legacies	Unrestricted funds	Restricted income funds	Total funds 2024	Prior year funds
			£		2023
		£		£	£
	Legacies and bequests	-	2,000	2,000	59,231
	Planned Giving	1 35,000	18,682	153,682	152,007
	Donations	23,805	5,770	29,575	11,330
	CAP Donations	-	22,480	22,480	20,353
	ACTS435 Donations	793	-	793	-
	Gift Aid tax reclaimed	3 8,660	255	38,915	38,673
		198,258	49,187	247,445	281,594

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Notes to Financial Statement.

				Report
5 Incoming resources from charitable	activities
	Unrestricted funds	Restricted income funds	Total funds 2024	Prior year funds 2023
	£	£	£	£
Grant Income:
Diocese of Truro	-	57,844	57,844	33,250
The Acorn Trust	-	1,000	1,000	-
PCC St Ives Dockyard Grant	-	2,500	2,500	-
Department for Digital, Culture,	-	662	662	-
Media and Sport
		62,006	62,006	~~33,250~~
Primary Purpose Trading:
Fees Weddings & Funerals	3,248	-	3,248	3,245
Events Income Cottage Rental Income Contribution for use of Hall	4,033 4 ,740 970	- - -	4,033 4,740 970	1,418 4,538 322
Rural Dean PA Hrs Other income	2,688 1,048	- 776	2,688 1,824	1,170 3,290
	16,727	776	17,503	13,983
	16,727	62,782	79,509	47,233
6 Investment income	Unrestricted funds	Restricted income funds	Total funds 2024	Prior year funds 2023
	£	£	£	£
Interest on cash deposits	2,799	-	2,799	4,837
	2,799	-	2,799	4,837

16

Notes to Financial Statement.

7	Expenditure on charitable activities
		Unrestricted	Restricted	Total	Prior year
				2024	2023
		£	£	£	£
	Direct costs
	Mission & Ministry Fund Christians' Against Poverty	5 5,277 -	- 11,187	55,277 11,187	51,178 12,986
	Gospel Partnerships River Street Church Service Costs Lowest Income Community Events Expenditure Other Expenditure	1 5,540 - 1,397 - 6,115 1,603	- - 8,926 - - 13	15,540 13 1,397 8,926 6,115 1,603	8,465 - 378 4,058 2,731 1,026
	Support costs	79,932	20,126	100,058	80,822
	Staff costs Rent and rates	60,868	36,707	97,575	105,404
	Light, heat and power Insurance Building Repairs and maintenance Equipment repairs and renewals	4 ,676 6 ,519 4 ,921 2,064 788	- - - 5,710 -	4,676 6,519 4,921 7,774 788	4,326 9,240 4,858 2,936 1,996
	Telephone and fax	2,703	441	3,144	3,295
	IT Services	2 ,021	615	2,636	1,586
	Printing, postage and stationery	1 ,796	190	1,986	2,177
	Sundry	153	-	153	-
	Cleaning	1,640	-	1,640	1,880
	Travel and subsistence	6 74	411	1,085	1,119
	Advertising & Marketing Consultancy fees Legal and professional fees Bank charges	1 ,627 35 - 339	18 - 720 32	1,645 35 720 371	1,561 35 - 362
	Total Support Costs	90,824	44,844	135,668	140,775
	Governance Costs		-
	Accountancy fees	3,090		3,090	2,445
	The independent examination	1,300	-	1,300	-
	of the charity's accounts		-
	Total Governance Costs	4,390		4,390	2,445
	Total Charitable Expenditure	175,146	64,970	240,116	224,042

17

Notes to Financial Statement.

Re ort p

8 Net income/ expenditure

	Net income/expenditure is stated after charging:
		2024	2023
		£	£
	Auditors' / Independent Examiners' remuneration	1,300	-
9	Staff costs
	The average monthly number of employees during the year was as follows:
		2024	2023
		Number	Number
	Staff in charitable activities	7	7
	Volunteers (nos of people involved excluding Trustees)
	The aggregate payroll costs of these persons were as follows:
		2024	2023
		£	£
	Wages and salaries	8 8,281	91,056
	Social security	85	-
	Pensions	1 ,612	1,149
		89,978	92,205
	Total employee benefits received by key management personnel	44,693

No employee received emoluments in excess of £60,000 in either the current or the prior year.

The charity operates a defined contributions scheme with The Peoples Pension. The pension cost shown represents the contributions payable by the charity to the scheme for the period.

10 Trustees' and related parties remuneration and expenses

Trustees received the following remuneration and benefits in kind during the year.

Hugh Barne - Salary and accommodation

£40,969

Expenses totalling £636 were paid to 1 Trustees

Salaries were paid to the following related parties during the year:

Natalie Gavan - Wife of trustee Matt Gavan £16,350 Debra Stanhope - Daughter in law of trustee Alan Stanhope £9,389

18

Notes to Financial Statement.

							Report
11	Tangible fixed assets	Freehold
		interest in
		land and
		buildings (including heritage assets)		Developme nt of Church Buildings		Fixtures, fittings and equiptment	Total
	Cost	£		£		£	£
	As at 1 January 2024	5 00,000		-		44,372	544,372
	Additions			9,257		23,195	32,452
	As at 31 December 2024	500,000		9,257		67,567	576,824
			-
	Depreciation
	As at 1 January 2023		-		-	44,372	44,372
	As at 31 December 2024		-		-	44,372	44,372
	Net Book Value
	As at 31 December 2024	500,000			9,257	23,195	532,452
	As at 31 December 2023	500,000			-	-	500,000
12	Investments
					Mission Housing		Equity Loan
	Market value
							£
	As at 31 December 2023						168,000
	As at 31 December 2024						168,000
	Net book value
	As at 31 December 2023						168,000
	As at 31 December 2024						168,000
	All investment assets were held in the UK
13	Debtors
						2024	2023
						£	£
	Trade Debtors					257	8,560
	Prepayments					1,780	-
	Other debtors					1,205	1,520
						3,242	10,080

19

Notes to Financial Statement.

							Report
14	Creditors: Amounts falling	due within one		year
						2024	2023
						£	£
	Accruals and deferred income					1 2,199	3,673
	Other creditors					-	187
						12,199	3,860
15	Analysis of funds
			As at 1 January 2024	Incoming Resources	Resources Expended	Transfers	As at 31 December 2024
			£	£	£	£	£
	Restricted Funds
	Belling Trust		1,000	-	(486)	-	514
	Christian's Against Poverty		1,748	5,421	(28,798)	21,629	-
	CAP - Debt Coach		8,841	19,559	(90)	-	28,310
	Thomas Fund Legacy Tinney's Graveyard Legacy	1 2	8,841 51,974	- -	- (5,227)	- -	8,841 46,747
	Lowest Income Communities Funding		17,465	61,742	(29,006)	(733)	49,468
	Old Kea Church Development Trinity Website		19,332 1 ,000	2,520 -	(240) (147)	(9,257) -	12,355 853
	All Hallows Development Fund		-	17,727	(243)	(14,876)	2,608
	River Street		-	5,000	(733)	(4,267)	-
			110,201	111,969	(64,970)	(7,504)	149,696
	General Funds
	Unrestricted funds		6 53,130	201,784	(158,877)	(15,448)	680,589
	Designated funds
	Gospel Partnerships		1 4,117	16,000	(15,540)	-	14,577
	Ministers' Accommodation Fund		169,873	-	(729)	-	169,144
	Capital designated fund		-	-	-	22,952	22,952
	Total Unrestricted funds		8 37,120	217,784	( 175,146)	7,504	887,262
	Total funds		947,321	329,753	(240,116)	-	1,036,958

20

Notes to Financial Statement.

Re ort p

Description of purposes of restricted funds:

Belling Trust

For Livestream and other technical equipment and improvements

Christians Against Poverty & CAP Debt Coach

These are generally funds raised through appeals for debt support work licensed by Christians Against Poverty.

There was a separate appeal for a debt coach worker to increase the capacity of the debt centre overall.

Thomas Fund Legacy 1 - Funds given for perpetual maintenance of family grave

Tinney's Graveyard Legacy 2 - Funds given for maintenance of the All Hallows churchyard

Lowest Income Communities Funding

This funding comes from the Church of England to support two community workers. St Kea is administrating this project on behalf of the Powder Deanery.

O ld Kea Church Development

This fund consists of appeal donations given towards the work of developing Old Kea Church.

Trinity Website

This fund consists of donations given towards the work of developing the current church website All Hallows Development Fund

Funds raised by appeal for the maintenance and development of the All Hallows church site River Street

A specific location funded initially by the Lowest Income Community Fund with expected additional specific funding in future years.

16 Net assets by fund

	Unrestricted funds	Restricted income funds	Total funds	Prior year funds
Tangible assets	5 32,452	-	532,452	500,000
Investments	1 68,000	-	168,000	168,000
Current assets	1 99,009	149,696	348,705	283,181
Creditors: Amounts falling due within one year	(12,199)	-	(12,199)	(3,860)
Net Assets	887,262	149,696	1,036,958	947,321

21