St Marys PCC Radcliffe on Trent
Independent Examiners Report
To the members of St Mary’s PCC, Radcliffe on Trent
I report on the accounts for the year ended 31 December 2024, which are set out on pages 12 to 21.
Respective responsibilities of the Members and Independent
Examiner
The members of the PCC are responsible for the preparation of the accounts. The members of the PCC consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
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
-
To state whether particular matters have come to my attention.
B asis of Independent Examiner’s Statement
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 PCC and a comparison of the accounts presented with those records. It also includes a consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Members concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts.
Independent Examiner's Statement
In connection with my examination, no matters have come to my attention:
-
(1) which give me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 130 of the 2011 Act;
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
-
(2) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Richard Farnsworth.
55 Cropwell Road, Radcliffe-on-Trent, NG12 2JG Date:
Annual Report and Financial Statements 2024
Page 11
St Marys PCC Radcliffe on Trent
Statement of Financial Activities
For the year ended 31 December 2024
| Unrestricted | Restricted | Endowment | Total | Prior Year | |
|---|---|---|---|---|---|
| Incoming Resources | |||||
| Donations & Legacies | 106,224 | 2,060 | 0 | 108,284 | 105,930 |
| Charitable Activities | 30,733 | 223 | 0 | 30,955 | 27,454 |
| Investments | 111 | 0 | 0 | 111 | 138 |
| Trading Activities | 17,468 | 0 | 0 | 17,468 | 16,716 |
| Total incoming resources |
154,536 | 2,282 | 0 | 156,818 | 150,237 |
| Resources Used | |||||
| Charitable Activities | 149,172 | 1,979 | 0 | 151,151 | 155,597 |
| Raising Funds | 7,865 | 0 | 0 | 7,865 | 0 |
| Total resources used | 157,038 | 1,979 | 0 | 159,017 | 155,597 |
| Net Incoming / Outgoing Resources (before transfers) |
-2,501 | 303 | 0 | -2,198 | -5,359 |
| Fund Transfers In | 820 | 0 | 0 | 820 | 1,790 |
| Fund Transfers Out | 0 | 820 | 0 | 820 | 1,790 |
| Net Incoming / Outgoing Resources (before gains/losses) |
-1,681 | -517 | 0 | -2,198 | -5,359 |
| Investment Gains (or Losses) |
0 | 0 | 0 | 0 | -150 |
| Net Incoming / Outgoing Resources (before Asset Revaluation) |
-1,681 | -517 | 0 | -2,198 | -5,509 |
| Net Movement of Funds | -1,681 | -517 | 0 | -2,198 | -5,509 |
| Total Funds Brought Forward |
58,622 | 38,918 | 845,990 | 943,530 | 949,039 |
| Total Funds Carried Forward |
56,941 | 38,401 | 845,990 | 941,332 | 943,530 |
| Represented By | |||||
| General (Unrestricted) | 42,213 | 0 | 0 | 42,213 | 44,313 |
| Youth (Restricted) | 0 | 27,696 | 0 | 27,696 | 27,211 |
| Audiovisual (Restricted) | 0 | 1,722 | 0 | 1,722 | 1,751 |
| Fabric (Restricted) | 0 | 7,146 | 0 | 7,146 | 7,486 |
| Flowers (Restricted) | 0 | 352 | 0 | 352 | 164 |
| Vicar Discretionary (Restricted) |
0 | 0 | 0 | 0 | 820 |
| Xmas Dinner (Restricted) |
0 | 1,486 | 0 | 1,486 | 1,486 |
| Hall (Designated) | 14,728 | 0 | 0 | 14,728 | 14,309 |
| Church Hall Endowment (Endowment) |
0 | 0 | 845,990 | 845,990 | 845,990 |
Annual Report and Financial Statements 2024
Page 12
St Marys PCC Radcliffe on Trent
Balance Sheet
As at 31 December 2024
| Unrestricted | Restricted | Endowment | Total | Prior Year | |
|---|---|---|---|---|---|
| Current Assets | |||||
| Cash | 54,048 | 38,374 | 0 | 92,422 | 75,200 |
| Accounts Receivable | 8,320 | 120 | 0 | 8,440 | 22,890 |
| Total | 62,368 | 38,494 | 0 | 100,862 | 98,090 |
| Non-Current Assets | |||||
| Fixed Assets | 0 | 0 | 845,990 | 845,990 | 845,990 |
| Total | 0 | 0 | 845,990 | 845,990 | 845,990 |
| Non-Current Assets | |||||
| Accounts Payable | 5,427 | 92 | 0 | 5,520 | 550 |
| Total | 5,427 | 92 | 0 | 5,520 | 550 |
| Non-Current Liabilities | |||||
| Long Term Loan / Mortgage |
0 | 0 | 0 | 0 | 0 |
| Total | 0 | 0 | 0 | 0 | 0 |
| Net Current Assets | 56,941 | 38,401 | 0 | 95,342 | 97,540 |
| Total Net Assets (Assets Minus Liabilities) |
56,941 | 38,401 | 845,990 | 941,332 | 943,530 |
| Represented By | |||||
| General (Unrestricted) | 42,213 | 0 | 0 | 42,213 | 44,313 |
| Youth (Restricted) | 0 | 27,696 | 0 | 27,696 | 27,211 |
| Audiovisual (Restricted) | 0 | 1,722 | 0 | 1,722 | 1,751 |
| Fabric (Restricted) | 0 | 7,146 | 0 | 7,146 | 7,486 |
| Flowers (Restricted) | 0 | 352 | 0 | 352 | 164 |
| Vicar Discretionary (Restricted) |
0 | 0 | 0 | 0 | 820 |
| Xmas Dinner (Restricted) |
0 | 1,486 | 0 | 1,486 | 1,486 |
| Hall (Designated) | 14,728 | 0 | 0 | 14,728 | 14,309 |
| Church Hall Endowment (Endowment) |
0 | 0 | 845,990 | 845,990 | 845,990 |
Approved by the Parochial Church Council on 3[rd] March 2025 and signed on their behalf by:
Vicar - Canon Mark Tanner
Signed .................................................
Churchwarden – Mr Andrew Norton
Signed..................................................
Churchwarden – Mr Stephen Eastman
Signed .................................................
Annual Report and Financial Statements 2024
Page 13
St Marys PCC Radcliffe on Trent Notes to the financial statements
Notes to the Financial Statements
1. ACCOUNTING POLICIES
The PCC is a public benefit entity within the meaning of FRS102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, and with the Regulations’ “true and fair view” provisions, together with FRS102 (2016) as the applicable accounting standards and the 2016 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP (FRS102)). The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value.
Funds
General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are for application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted. The accounts 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 to another body or those that are informal gatherings of church members.
Income and Endowments
Voluntary Income and Capital Sources
Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under Gift Aid is recognised only when received. Income tax recoverable on Gift Aid donations is recognised when the income is recognised. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is probable.
Other Income
Rental income from the letting of church premises is recognised when the rental is due.
Income from Investments
Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue. Tax recoverable on such income is recognised in the same accounting year.
Gains and Losses on Investments
Realized gains or losses are recognised when investments are sold. Unrealized gains or losses are accounted for on revaluation of investments at 31 December.
Annual Report and Financial Statements 2024
Page 14
St Marys PCC Radcliffe on Trent Notes to the financial statements
Expenditure
Grants
Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC.
Activities directing relating to the work of the Church
The diocesan parish share is accounted for when paid. Any parish share unpaid at 31 December is provided for in these accounts as an operational (though not a legal) liability and would be shown as a creditor in the Balance Sheet.
Fixed Assets
Consecrated Property and Movable Church Furnishings
Consecrated and beneficed property of any kind is excluded from the accounts by section 10(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 a faculty for disposal, are accounted 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 2001, there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired since 1 January 2001 have been capitalised and depreciated in the accounts over their currently anticipated useful economic life at a rate of 25% per annum on a reducing balance basis. All expenditure incurred in the year on consecrated or beneficed buildings, individual items under (£5,000), or on the repair of movable church furnishings acquired before 1 January 2001 is written off.
Other Fixtures, Fittings and Office Equipment
Equipment used within the church premises is depreciated at 25% per annum on a reducing balance basis except for IT equipment, which is depreciated linearly over 5 years. Individual items of equipment with a purchase price of £5,000 or less are written off when the asset is acquired.
Investments
No investments were held during the year.
Current Assets
Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectable.
Short-term deposits include cash held on deposit at the bank.
Annual Report and Financial Statements 2024
Page 15
St Marys PCC Radcliffe on Trent Notes to the financial statements
2 INCOME
Current Year
| Unrestricted | Restricted | Endowment | Total | Prior Year | |
|---|---|---|---|---|---|
| Incoming Resources | |||||
| Donations & Legacies | |||||
| Donations Gift Aid Grants |
86,810 | 1,783 | 0 | 88,592 | 88,062 |
| 19,445 | 500 | 0 | 19,944 | 17,026 | |
| 0 | 0 | 0 | 0 | 920 | |
| Charitable Activities | |||||
| Community hall Weddings and funerals |
23,470 | 0 | 0 | 23,470 | 19,855 |
| 7,233 | 0 | 0 | 7,233 | 7,302 | |
| Investments | |||||
| Bank Interest | 111 | 0 | 0 | 111 | 138 |
| Trading Activities | |||||
| LINK Magazine Other Income |
17,468 | 0 | 0 | 17,468 | 16,716 |
| 0 | 0 | 0 | 0 | 220 | |
| Total incoming resources | 154,536 | 2,282 | 0 | 156,818 | 150,237 |
Prior Year
| Unrestricted | Restricted | Endowment | Total | Prior Year | |
|---|---|---|---|---|---|
| Incoming Resources | |||||
| Donations & Legacies | |||||
| Donations | 86,736 | 1,326 | 0 | 88,062 | 83,065 |
| Gift Aid | 17,001 | 25 | 0 | 17,026 | 16,218 |
| Grants | 920 | 0 | 0 | 920 | 0 |
| Charitable Activities | |||||
| Community hall | 19,855 | 0 | 0 | 19,855 | 18,216 |
| Weddings and funerals | 7,302 | 0 | 0 | 7,302 | 8,233 |
| Investments | |||||
| Bank Interest | 138 | 0 | 0 | 138 | 117 |
| Trading Activities | |||||
| LINK Magazine | 16,716 | 0 | 0 | 16,716 | 16,129 |
| Other | |||||
| Other Income | 220 | 0 | 0 | 220 | 545 |
| Total incoming resources |
148,887 | 1,351 | 0 | 150,237 | 142,524 |
Annual Report and Financial Statements 2024
Page 16
St Marys PCC Radcliffe on Trent Notes to the financial statements
3 EXPENDITURE
Current Year
| Unrestricted | Restricted | Endowment | Total | Prior Year | |
|---|---|---|---|---|---|
| Resources Used | |||||
| Charitable Activities | |||||
| Activities | 7,052 | 1,416 | 0 | 8,469 | 17,685 |
| Admin | 1,937 | 0 | 0 | 1,937 | 2,161 |
| Community hall | 23,052 | 0 | 0 | 23,052 | 20,003 |
| Gifts Given | 5,075 | 0 | 0 | 5,075 | 5,075 |
| Parish share | 83,280 | 0 | 0 | 83,280 | 80,910 |
| Premises | 14,321 | 563 | 0 | 14,884 | 15,626 |
| Staff Costs | 14,455 | 0 | 0 | 14,455 | 14,137 |
| Raising Funds | |||||
| Magazine costs | 7,865 | 0 | 0 | 7,865 | 0 |
| Total resources used | 157,038 | 1,979 | 0 | 159,017 | 155,597 |
Prior Year
| Unrestricted | Restricted | Endowment | Total | Prior Year | |
|---|---|---|---|---|---|
| Resources Used | |||||
| Charitable Activities | |||||
| Activities | 5,853 | 2,409 | 0 | 8,262 | 13,518 |
| Admin | 2,161 | 0 | 0 | 2,161 | 1,993 |
| Community hall | 20,003 | 0 | 0 | 20,003 | 15,963 |
| Depreciation | 0 | 0 | 0 | 0 | 720 |
| Gifts Given | 5,075 | 0 | 0 | 5,075 | 5,760 |
| Parish share | 80,910 | 0 | 0 | 80,910 | 74,268 |
| Premises | 14,513 | 1,112 | 0 | 15,626 | 16,603 |
| Staff Costs | 14,137 | 0 | 0 | 14,137 | 13,628 |
| Raising Funds | |||||
| Magazine costs | 9,423 | 0 | 0 | 9,423 | 0 |
| Total resources used | 152,075 | 3,522 | 0 | 155,597 | 142,453 |
Annual Report and Financial Statements 2024
Page 17
St Marys PCC Radcliffe on Trent Notes to the financial statements
| 5 STAFF COST Wages and salaries Pension costs TOTAL |
2024 £ 14,551 - 14,551 |
2023 £ 12,701 - |
|---|---|---|
| 12,701 |
During the year, the PCC employed a vicar’s PA, a hall caretaker, a church cleaner and a hall bookings officer (all part time). A number of other people received fees for attendance as organists and vergers. The PCC is exempt from registering for a pension scheme.
6 FIXED ASSETS
| Computer & Office Equipment | Fixtures & Fittings | Freehold Property | Total | |
|---|---|---|---|---|
| Cost | ||||
| Prior to 1st January 2024 | 1,264 | 1,440 | 845,990 | 848,694 |
| Additions in financial year | 0 | 0 | 0 | 0 |
| Total as at 31st December 2024 | 1,264 | 1,440 | 845,990 | 848,694 |
| Depreciation | ||||
| Prior to 1st January 2024 | 1,264 | 1,440 | 0 | 2,704 |
| Additions in financial year | 0 | 0 | 0 | 0 |
| Total as at 31st December 2024 | 1,264 | 1,440 | 0 | 2,704 |
| Net Book Value | ||||
| As at 31st December 2024 | 0 | 0 | 845,990 | 845,990 |
| As at 31st December 2023 | 0 | 0 | 845,990 | 845,990 |
7 Analysis of Net Assets Between Funds
Current Year
| Unrestricted | Restricted | Endowment | Total | Prior Year | |
|---|---|---|---|---|---|
| Current Assets | 62,368 | 38,494 | 0 | 100,862 | 98,090 |
| Non-Current Assets | 0 | 0 | 845,990 | 845,990 | 845,990 |
| Current Liabilities | 5,427 | 92 | 0 | 5,520 | 550 |
| Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 |
| Total Net Assets (Assets Minus Liabilities) | 56,941 | 38,401 | 845,990 | 941,332 | 943,530 |
Prior Year
| Unrestricted | Restricted | Endowment | Total | Prior Year | |
|---|---|---|---|---|---|
| Current Assets | 59,172 | 38,918 | 0 | 98,090 | 107,612 |
| Non-Current Assets | 0 | 0 | 845,990 | 845,990 | 847,930 |
| Current Liabilities | 550 | 0 | 0 | 550 | 6,502 |
| Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 |
| Total Net Assets (Assets Minus Liabilities) | 58,622 | 38,918 | 845,990 | 943,530 | 949,039 |
Annual Report and Financial Statements 2024
Page 18
St Marys PCC Radcliffe on Trent Notes to the financial statements
| 8 DEBTORS Gift aid recoverable Other debtors 9 LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR Promised gift to World Vision Other creditors |
2024 £ 5,234 3,206 8,440 2024 £ 5,000 520 5,520 |
2023 £ 17,000 5,890 |
|---|---|---|
| 22,890 | ||
| 2023 £ - 545 |
||
| 545 |
Annual Report and Financial Statements 2024
Page 19
St Marys PCC Radcliffe on Trent Notes to the financial statements
10 Movement in Funds
Current Year
| Fund Name | Opening Balance |
Income | **Expenditure ** | **Fund Transfers ** | **Investment Gains (or Losses) ** | Closing Balance |
|---|---|---|---|---|---|---|
| Unrestricted | ||||||
| General (Unrestricted) | 44,313 | 131,066 | 133,986 | 820 | 0 | 42,213 |
| Total | 44,313 | 131,066 | 133,986 | 820 | 0 | 42,213 |
| Designated | ||||||
| Hall (Designated) | 14,309 | 23,470 | 23,052 | 0 | 0 | 14,728 |
| Total | 14,309 | 23,470 | 23,052 | 0 | 0 | 14,728 |
| Unrestricted Total | 58,622 | 154,536 | 157,038 | 820 | 0 | 56,941 |
| Restricted | ||||||
| Youth (Restricted) | 27,211 | 1,040 | 555 | 0 | 0 | 27,696 |
| Audiovisual (Restricted) | 1,751 | 0 | 29 | 0 | 0 | 1,722 |
| Fabric (Restricted) | 7,486 | 223 | 563 | 0 | 0 | 7,146 |
| Flowers (Restricted) | 164 | 1,020 | 832 | 0 | 0 | 352 |
| Vicar Discretionary (Restricted) | 820 | 0 | 0 | -820 | 0 | 0 |
| Xmas Dinner (Restricted) | 1,486 | 0 | 0 | 0 | 0 | 1,486 |
| Total | 38,918 | 2,282 | 1,979 | -820 | 0 | 38,401 |
| Endowment | ||||||
| Church Hall Endowment (Endowment) | 845,990 | 0 | 0 | 0 | 0 | 845,990 |
| Total | 845,990 | 0 | 0 | 0 | 0 | 845,990 |
| Restricted Total | 884,908 | 2,282 | 1,979 | -820 | 0 | 884,391 |
| TOTAL | 943,530 | 156,818 | 159,017 | 0 | 0 | 941,332 |
Purposes of Restricted Funds
Youth Fund: to fund youth focussed activities and enhancements. Fabric Fund: to pay for preservation, repairs, and enhancements to the church buildings.
Audio Visual Fund: to be used specifically for Audio Visual systems. Christmas Dinner Fund: to pay for provision of the annual Christmas Day meal.
Small Funds : the Flower Fund, which pays for flowers in the church, and the Vicar’s Discretionary Fund, which can provide small emergency grants to local people in need.
Purposes of Endowment Funds
Church Hall Fund: capitalised expenditure in respect of the new church hall
Annual Report and Financial Statements 2024
Page 20
St Marys PCC Radcliffe on Trent Notes to the financial statements
11 Agent Transactions
The PCC acted as agent for the following in 2024: Southwell and Nottingham Diocesan Board of Finance – with a total of £4,450 being collected from wedding couples and funeral directors and passed to the Diocesan Board of Finance. Additionally £2,308 was collected and passed on to ordained readers and retired clergy on behalf of the DBF for ministry at funerals.
12 Trustee Remuneration and related party transactions
No trustee expenses were incurred. No PCC member was paid any remuneration or received any other benefits from an employment with St Mary’s, other than travel expenses associated with funerals. No material transactions, contracts or other arrangements (including grants) with any related party have occurred during the year. All congregation members are encouraged to contribute financially to the work of St Mary’s and PCC members give in line with general congregational giving.
13 Volunteers
In common with all congregations of the Church of England, St Mary’s benefits from the contribution made by volunteers who give their time and talents willingly for the benefit of the Church. The areas of church life which rely on the contribution of volunteers are many and varied and much of the activity would be unable to continue were it not for the commitment shown
14 Independent Examiner’s Fee
The Independent Examiner offered his services for 2024 on a voluntary basis.
15 Transfers between funds
£820 was transferred from the Vicar's Discretionary Fund to the General Fund at the vicar’s discretion and with PCC approval in order to approve clarity of accountability.
PREPARED BY PAUL DEAN, TREASURER
Paul Dean Date:
Annual Report and Financial Statements 2024
Page 21