Christchurch LOWESTOFT gvergorte rteeds JesLL CHRIST CHURCH WHAPLOAD ROAD LOWESTOFr ANNUAL REPORT AND FINANCIAL STATEMENTS OF THE PAROCHIALCHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2024 INDEX TO ACCOUNTS Page Legal and Admlnistrative details Minlster's Report Structure Governance and Management Independent Examiner's Report Treasurer's Report Statement of Financial Activities Balance Sheet Notes to the Accounts 10-18
PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH LOWESTOFT LEGAL AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024 Charitable Status The Parochial Church Councll Is a charityi Registered Charity Number 1131184. Connected Charlty The Parochial Church Council is connected with Christ Church Lowestoft Trust, Registered Charity Number 1048325, The trustees of the Christ Church Lowestoft Trust are four elected members of the congregation of Christ Church Lowestoft and one member of the Parochial Church Council. Address for Correspondence Christ Church Administration Herring Fishery Score Lowestoft NR32 IXE Members of the Parochlal Church Council Monica Brewster (Appointed Nov 24} Jon Carter Barrie Cossey Bunny Fisher (Appointed Nov 241 Andy Hlcks (Appointed Apr 241 Pam Hicks Carelien Martin {Appolnted Apr 24} Roy Palllster (Appointed Apr 24- Resigned Dec 241 David Ryczanowski Jill Stebblngs (Appointed Apr 24) Andrew Timberlake Eddie Tlmberlake Angela Waterson Claire Williams Peter Williams Treasurer Andrew Timberlake Secretary Carelien Martin Bankers Barclays Bank PLC 61 London Road North Lowestoft Independent Examlner {Appointed March 2025) Gordon Secker 21 Keel Close Carlton Colville NR33 8GT
PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH LOWESTOFr MINISTER'S ANNUAL REPORT FOR 2024 The PCC of Christ Church Lowestoft seeks to support the mission and ministry of the church, particularly in managing the finances, buildings, policies and employment of staff. In 2024, we employed a Families Coordinator, a Sports & Youth Worker, a Church Administrator and a Cleaner. The PCC has now cleared the backlog on our church financial accounts, made better progress on our Building Project plans, improved Safeguarding practices. We aim to maintain good practice with Safeguarding and to fully cooperate with the Diocese of Norwich Safeguarding team. The work of the PCC has allowed the church to continue to develop a range of activities and services that seek to reach a new generation with the good news of Jesus Christ. Our central activities are our Sunday services. Our main Sunday morning service (loam service) continues to be focused around expository preaching and is steadily growing in numbers. We also run afternoon all-age Café Church services, an informal evening service I'The Gathering,) and an occasional young adult led service (The Big House'l. Other special services include Christmas & Easter services, funeral and thankSEiving services. Our midweek programme for adults has included prayer meetings, training seminars and a range of small groups {women's groups, a men's Eroup and a youn8 adults, group}. We have also offered courses allowing adults to explore the Christian falth and baptism. Our midweek programme for children and youth continues to grow and includes Shrimps (our play and stay parents/grandparents and toddlers, group), Saturday Club (3-7s}, Explorer5 Club17-IOs} and Breakout111-18s). For families together, we run Messy Church, FISH IFood-in-School-Holidays), a Families BBQ and various special events. We continue to invest in our Sports programme for all age5, including our Badminton group, Beach Games, Cricket Club, Indoor Bowls, Legacy School Holiday Club, a Sports Quiz as well as various one-off activities. At our APCM in April 2024, our Electoral Roll number was 143. Average Sunday morning church attendance began 2024 wlth approximately 147 adults and children and finished the year with approximately 149. Jon Carter (Vlcar) Andrew fimberlake & Claire Williams {Wardens)
PAROCHIAL CHURCH £OUNCIL OF CHRIST CHURCH LOWESTOFr STRUCTURE GOVERNANCE & MANAGEMENT The trustees of the charity comprise members of the Parochial Church Council (PCC}, which includes the Vicar, Churchwarden5, Sports & Youth Worker, Families Coordlnator, and Church Office Administrator (who acts as PCC Secretary). This structure ensures governance in alignment with the regulations and policies of the Church of England. The PCC continues to operate a reserves policy, orlginally established in 2015, which aims to hold funds equivalent to approximately two months of standard operatlng costs plus an additional month of salary expenses. This reserve target was estimated at around £20,000 for 2024. To support thls policy, the PCC designated £5,000 from the General Fund into a separate "Reserves fund, which remains unchanged, In 2024, the PCC made a further designation of funds to support future capital and mlnistry-related projects. This included a transfer of £10,000 from the General Fund and £1,800 of interest income earned on the Bus Premium Account, resulting in a total increase of £11,800 to the Building Fund, which now stands at £121,800. By the end of 2024, the reserves - consisting of unrestricted current assets minus liabilities as outlined in Note 8 of the financial statements amounted to £140,592 (£180,515 at the end of 2023}.
PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH LOWESTOFT REPORT TO THE TRUSTEES/MEMBERS OF CHRIST CHURCH, LOWESTOFT ON ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 CHARITY NUMBER 1131184 I report to the trustees on my examlnation of the accounts of the above charity ("the Trust") for the year ended 31 December 2024. Responsibilitles and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {"the Act"). I report in respect of my examination of the Trust's accounts carried out under sectlon 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Direction5 given by the Charity Commission under Section 145(5}{b} of the Act. Independent examinerfs statement I have completed my examination. I confirm that no material matters have come to my attentlon In connection with the examination which gives me cause to believe that, in any material respect: the accounting records were not kept in accordance with section 130 of the Charities Act,. or the accounts did not accord with the accounting records. or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charlties (Accounts and Reports} Regulations 2008 other than any requirement that the accounts glve a 'true and fairf view 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 whlch attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Gordon Secker 21 Keel Close Carlton Colville NR33 8GT Date: 11
PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH LOWESTOFT TREASURER'S ANNUAL REPORT FOR 2024 This report summarises the financial position of Christ Church, Lowe5toft for the year ended 31 December 2024. The accounts have been prepared in accordance with the Charitles SORP (FRS 102) and reflect the PCC'S commitment to financial stewardship and transparency. l. Overvlew of Flnanclal Activity Total income for the year was £137,289, including planned giving, donations, grants, lettings, and interest. Total expenditure amounted to £161,881, resulting in an operational deficit of £24,592. This Shortfall was expected and has been partially offset by the use of designated reserves. A key part of this yearfs expenditure was the £55,000 Parish Share. Of this, £15,000 was paid during 2024, and £40,000 was accrued at year-end and paid via the Ephesian Fund in January 2025. The full amount is included in this yearfs accounts to reflect the church's diocesan commltment. 2. Fund Balances and Transfers As of 31 December 2024, total funds stood at £247,614 (2023 - £272,206), comprised of: £212,594 in unrestricted and designated funds £35,022 In restricted funds A £5,000 Reserves Fund is maintained to cover two month5 of core operational costs, in line with PCC policy. During the year, the PCC designated £11,800 to the Building Fund, made up of £1,800 in Interest income and £10,000 transferred from the General Fund. These funds are held for future mlnlstry and capital development. 3. Gift Aid and Debtors The Balance Sheet includes £64,446 in debtors, primarily representlng unclaimed Glft Ald for donations made in 2024. Approximately £54,000 Is expected to be received In 2025, and this amount has been treated as Income wlthin this financlal year. 4. Flnanclal Outlook While 2024 closed with a deficit, the church remains in a secure financlal position, Unrestrlcted net current assets at year-end were £140,592, offering a strong platform for 2025. The PCC continues to plan for a future building project, with increasing confidence In its viability. Any additional income, surplus, or grant funding in the coming year wlll help offset anticipated project Costs. The PCC remains committed to balanclng mlsslon growth with sustalnable financial planning. To support the clarity and transparency of thefinal accounts thefollowing explanatory notes are provlded..
The reported Clergy Expenses figure of £3,362 includes £1,599.59 reimbursed In 2024for expense5 incurred irt 2023. The actuul vicarial expenses for 2024 total £1, 762.41, with the remainder reflecting prior-year activity. The gross salary of the Church Administrator in 2024 was £13,143.03. The amount reported in the final accounts under Church Management ond Administration" is £11,160, which represents the net salary pald plus employer pension contributions, The balonce required to make up thefull gross salary is shown under "Staff Solaries - Unrestricted . accounting for statutory deduction5 such as Income Tox (PA YE) and Employee National Insurance, which are paid directly to HMRC on the Administrotor's behalf. Additionally, the reportedfigure include5 a £132.89 year-end odjustment due to occrual corrections between 2023 and 2024. Staff salaries uppear higher overall th(7n in the previous year. This reflects general increases in pay and the £5,000 employer pension contribution made on behalf of the Youth & Sport Worker, as noted elsewhere in the accounts. The increase in Generol Expensesfrom £518 in 2023 to £2,200 in 2024 is due in purt to o £480 journal L7djustment posted to uccountfor underreported costs in the previous year. Additional Increa5e5 resultfrom a wider inclusion of operational costs under this category In 2024 to better reflert general church expenditure. Church fellowship events (£840) included costs related to social and hospitality events such as the Christingle, Medieval Party, Htirvest Lunch, und Wine Tusting evenlngs. The £11,000 Ilsted under youth/family/sports ministry Includes mlnlstry costs ocross FISH, Shrimps Explorers, Legacy Club, Messy Church, sports event5, etc. Much of this cost was offset by ticketed income and subscriptions, recorded separotely in the income section of the accounts. Andrew Timberlake (Treasurer)
PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH LOWESTOFT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Total Funds 2023 Unrestrlcted Funds Restrlcted Funds Total Funds 2024 Note Incoming Resources Incoming Resources from Donors Othervoluntary IncomSng Resources Incomlng Resources from Operatlng Activities to Generate Funds Income from Investments Total Incomlng Resources 21a) 66,126 48,561 114,687 111,893 21bl 5,041 6,583 11,624 114,127 2{cl 2{dl 4,773 9,139 1,839 137,289 4,388 328 230,736 1,839 77,372 59,917 Resources Expended Grants Activities Directly ReLatlng to the Work ofthe Church Church Management and Administration Total Resources Expended 3{al 5,600 5,600 5,430 31b> 100,154 43,832 143,986 121,494 3{c) 12,295 118,047 12,295 161,879 12,855 139,779 43,832 Net [Outgoing)Ilncomlng Resource5 140,677> 16,085 124,5921 90.957 Balance at l January 2024120231 253,269 18,937 272,206 181,249 Balance at 31 December 2024120231 212.592 35,022 247,614 272,206 There are no recognlsed gain5 or losses other than those included in the results above, and therefore, no separate statement of total recognised galn5 and losses has been presented. The notes set out on pages 10 to 18 form an integral part of these accounts.
PAROCHIAL CHURCH COUNCIL CHRIST CHURCH LOWESTOFT BALANCE SHEET AS AT 31 DECEMBER 2024 2024 Note 2023 Fixed Assets Tangible fixed assets 72,000 72,754 Current Assets Debtors Short term deposits Cash at bank and in hand 64,446 121,465 54,446 119,665 226 513 205 964 Current Llabllltles: Amounts falling due within one year 10 6512 Net Current Assets 175,614 199,452 Net Assets Funds Unrestrlcted Restricted 247 614 272 206 212,592 253,269 247 614 Approved by the Parochial Church Council and signed on its behalf by Jon Carter Clalre Wllliams Andrew Timberla Date ILkJlts 1102
PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH LOWESTOFT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 l Accounting policies (a) Basis of Accounting The financlal statements have been prepared In accordance with the Statement of Recommended Accountlng Practice: Accounting and Reporting by Charitles preparing their accounts in accordance wlth the Financial Reporting Standard applicable in the UK and Republlc of Ireland (FRS102) and the Charities Act 2011. (b) Funds General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted. Restricted funds are to be used for the specific purposes laid down by the donor. 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 nor those that are informal gatherings of church members. Ic) Incomlng Resources Voluntary income and capital source5 Collections are reco8nised when received by or on behalf of the PCC. Planned glvlng receivable under Glft Aid is recognised when the principal amount is received. Income tax recoverable on covenants or gift aid donation5 15 recognised at the same time. Grants and legacies to the PCC are accounted for as soon as the PCC Is notified of its legal entitlement and the amount due. Funds raised by events are accounted for gross. Sales of books and magazlnes from the church bookstall are accounted for gross. Other ordinary income Rental income from the letting of church premises is recognised when the rental is due. Parochlal fees due to the PCC for weddlngs, funerals etc are accounted for on an event by event basis. 10
PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH LOWESTOFr NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 l Accounting policies (continued) Id) Resources Expended Grants Grants and donatlons are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC. Activities directly relating to the work of the Church The Dlocesan quota or parish share is accounted for when payable. Any quota unpaid at 31 December Is provlded for In these accounts as an operational (though not a legal) liability and is shown as a creditor in the Balance Sheet. {e) Fixed Assets Consecroted land and buildings and movable church furnishings Consecrated and beneflced property is excluded from the accounts under the Charities Act 2011. No value 15 placed on movable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be an Inalienable property. All expenditure incurred during the year on consecrated or benefice buildings and movable church furnishings, whether maintenance or improvement, is written off as expenditure in the SOFA and separately disclosed. Otherfreehold land and buildings The PCC considers that due to the long useful life of the Church Ha115 and the fact that they are kept in a good state of repair, any charEe for depreciatlon would be negllglble and therefore no provision has been made. Otherfixturesfitting5 and offlce equipment Equipment used within the church premises is depreciated on a straight-line basls over 4 years. Individual Items of equipment with a purchase price of £2,OCN) or less are written off when the asset is acquired. (fl Current Assets Amounts owing to the PCC at 31 December 2024 in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectible. Short-term deposits include cash held on deposit either with the Central Board of Finance or at the bank. 11
PAROCHIAL CHURCH,COUNCIL OF CHRIST CHURCH LOWESTOFr NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 l Accounting policies (continued) 18) Current Ilablllties 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 fund5 to a third party and the amount due to settle the obligation can be measured or estimated reliablv. {h) Going concern The trustees consider that there are no material uncertainties about the charity's abllity to continue as a going concern. The trustee5 do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant rlsk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting perlod. (il Penslon5 The charity contributes to money purchase deflned contribution scheme5 on behalf of its employees. No liability exists in respect of pensions other than monthly contributions due Included in creditors. 12
PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH LOWESTOFT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 2 Incoming Resources Total Funds 2024 Total Fund5 2023 Unrestrlcted Funds Restrlcted Funds lal IncomingResourGes from Donors Planned Giving Donations Income Tax Recoverable 56,126 48,561 104,687 84,464 10,000 10,000 27.429 Collections at all Servlces 66,126 48,561 114,687 111,893 Ibl Other voluntaryincomingresources Donations Appeals etc. 5,041 5,041 107,127 Grants 6,583 6,583 7,000 5,041 6,583 11,624 114,127 Ic} Incomlng resources from operatlngactfvltles togenerate fvnds and/or defray costs Church events 3,005 4,773 7,778 3,782 Church hall lettings 994 994 155 Books &Training materials 367 367 451 Fees 4,366 4,773 9,139 4.388 {d) Income fmm Investments Bank deposlt Interest 1,839 1,839 328 Total Incomlng Resources 77,372 59,917 137,289 230,736 13
PAROCHIAL CHURCH.COUNCIL OF CHRIST CHURCH LOWESTOFT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 3 Resources Used Unrestrlcted Funds Restricted Funds Total Funds 2024 Total Funds 2023 (a) Grants Missionary and Charltable Giving Misslonary Socleties Mis51on Support Welfare Grants 5,600 5,600 5,430 5,600 5,600 5,430 Activitles directly relutlng to the work {b) of the Church Ministry . Diocesan Share Clergy Expenses 55,000 3,362 55,000 3,362 56,000 2.481 Staff salaries Training and Conferences Church Fellowship Events Outreach Upkeep of Services Church Runnlng Expenses Youth, family & sports mlnlstry costs Fabric & Equipment Prlntlng and Stationery Books & Resources General Expenses Diocesan Fees 11,572 35,317 46,889 33,439 320 840 1,080 11,934 9,527 4,819 967 291 518 118 121,494 13,039 11,068 947 1,803 323 2,200 13,039 11,068 9,462 1,803 323 2,200 8,515 100,154 43,832 143,986 {c) Church Manogement andAdministration Administrator's Salary Integrated Digital & Telecommunlcatlon 11,160 1,135 12,295 11,160 1,135 12,295 11,940 915 12,855 Total Resources Expended 118,049 43,832 161,881 139,779 The total Parish Share for 2024 was £55,000, Of thls, £15,000 was paid durlng the year, and a further £40,000 was accrued at 31 December 2024 as a payment through the Ephesian Fund. wh1ch was made in January 2025. The full amount is Included in thesÈ accounts as it relates to the 2024 Diocesan obli8ation and was pald within the Diocese's reporting deadline. Note: The reported Clergy Expen5e5 figure of £3,362 Sncludes £1,599.59 relmbursed In 2024 for expenses incurred In 2023. The actual vicarial expenses for 2024 total £1,762.41, with the remalnder refletting prlor-year actlvlty. 14
PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH LOWE5TOFr NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 4 Staff Costs 2024 2023 Wages and salarles Social security costs Other pension costs 53,125 47,601 360 During the year the PCC employed a Sports & Youth Worker, a Families Coordinator, a cleaner, and an Administrator. The average weekly number of staff employed by the charity during the year was 412023- 4). No member of staff earned more than £60,000. Remuneration totalling £53,51212023- £45,189} was pald to 3 (2023 - 3) trustees during the vear, but not for their role as trustees of the charity. Expenses totalling £12,83812023- £12,542) were reimbursed to 712023- 6) trustees during the year. A lump sum employer pension contributlon of £3,496 was made during the year to correct the late enrolment of the Sports & Youth Worker into the pension scheme. This 15 included within Other pension costs The associated member contributions of £2,098 were handled through payroll and are not included in these accounts. 5 Fixed Assets for use by the Church Tangiblefixed assets Gross Book value at ljanuarv and 31 December 2024 Freehold land and buildings The freehold land and buildings comprise the Church Halls situated at Herrlng Fishery Score Lowestoft. For accounting purposes, the historical cost of this prop£rty is deemed to be its 1994 valuation, and has not been updated. The Dlocese holds the land and buildings on behalf of the Parlsh as Custodian Trustees. The buildings have not been depreciated for the reasons given on page 9 note l(e}, Computer Equipment Cost at ljanuary 2024 Additions 2024 6,878 Cost at 31 December 2024 6,878 6,124 754 Accumulated Depreciation at l January 2024 Depreclation Charge 2024 Accumulated Depreclatlon at 31 December 2024 Computer equipment net book value at 31 December 2024 Computer equipment net book value at 31 December 2023 Total fixed asset net book value at 31 December 2024 6,878 754 72,000 72,754 Total fixed asset net book value at 31 December 2023 15
PAROCHIAL CHURCH,COUNCIL OF CHRIST CHURCH LOWESTOFr NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 6 Unrestricted Funds The income funds of the PCC include the General Fund and designated funds, which have been set aside out of unrestricted funds by the PCC for specific purpose5. Durlng 2024, the PCC deslgnated an additional £11,800 to the Buildlng Fund. This comprised £1,800 of Interest income earned on the Bus Premium Account and a further £10,000 transferred from the General Fund. These amounts were allocated to support future capital and ministry-related projects. The total balance of unrestrlcted funds at 31 December 2024 was £212,592 (2023- £253,269). 2024 2023 General Fund Deslgnated Funds: 84,922 137,399 Building Reserves Bequests 121,800 5,000 870 110,000 870 212,592 253,269 16
PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH LOWESTOFT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 7 Restrlcted Funds The funds of the PCC include restricted funds comprising of the following unexpended balances of donations and grants held on trusts to be applied for specific purposes. Balance 31 December 2023 Balance 31 December 2024 Movement In Resources Incomlng Outgolng Restricted Funds Ministry Staff Fund Youth, Famlly & Sports ministry 59,917 35,317 24,6Crf) 2CN) 200 Children's Benevolent 1,152 1,152 Overseas Mlsslons 988 988 Women's Misslon 335 335 Ministerial Support 783 783 Men's Fellowship Building incl. Fabric, Windows & Kitchen 448 448 8,515 8,515 Admin/Office Flowers 48 48 Dlocesan & Other Fees 3,705 3,705 Chrlst Church Trust 2,077 2,077 Glfts Discretionary 25 25 Vicar's Discretionary 661 18,9a7 661 59,917 43,832 35,022 17
PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH LOWESTOFT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 8 Analysls of Net Assets by Fund Unrestrlcted Funds Restricted Funds Total Fixed Assets Current Assets Current Liabilities Fund Balance 72,000 191,491 72,000 226,513 35,022 {50,899) (50,8991 212,592 35,022 287,614 9 Debtors 2023 2022 Income Tax Recoverable Other Debtors & Prepayments 64,446 54,446 64,446 54,446 10 Liabillties- Amounts falling due within one year. 2024 2023 Misslons Dlocese 5,600 2,635 2,635 Hmftc 2,002 40,000 662 50,899 1830 Parish Share [Epheslan Fund] Other Accruals and Deferred Income 2,047 6,512 A total of £40,000 was accrued for the unpaid portion of the 2024 Parish Share, which was paid In January 2025 via the Ephesian Fund. This accrual ensures that the total 2024 Parlsh Share cost Is fully reflected in these accounts. 11 Related Party Transactlons There were no related party transactions in the year that requlred disclosure. 18