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2024-12-31-accounts

Emmanuel Parish Church Cambridge Road, Southport

Annual Report including Financial Report of the Parochial Church Council

For the year ended 31 December 2024

Registered Charity No. 1131223

© Diocese of Liverpool

EMMANUEL PARISH CHURCH PCC

INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Page
Reference and Administrative Information 1
Report of the PCC 2 - 6
Independent Examiners' Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10 - 13
Church Groups Accounts 14
Budget 15

EMMANUEL PARISH CHURCH PCC

REFERENCE AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2024

Address: Emmanuel Church, Cambridge Road, Southport, PR9 9RP Official Correspondence to: The Secretary, 54 Carisbrooke Drive, Southport, PR9 9PR Registered Charity Number: 1131223

PCC Members include:

Incumbent: Rev Stewart McTaggart
Curate: Vacant
Treasurer: Vacant
Reader: Mrs Jean Lee
Churchwarden: Mrs Linda Dewing
Deanery Synod Representatives: Mrs Nikki Brydon
Mrs Linda Dewing
Mr Eric Wall
Elected Members: Mrs Nikki Brydon
Mrs Sue Gore
Miss Elaine Hiorns
Dr Suzanne Hodge
Mrs C Martin
Mrs Elaine McLoughlin
Mr Gordon Ross
Mrs Karen Sacker
Mr Eric Wall
Mrs Kathleen Young
Electoral Role Officer: Mrs Sarah Johnson
Secretary: Mrs Helen Pitman
Safeguarding Officer: Mrs Jean Stocks
Bankers: Nat West Bank, 130 Lord Street, Southport, PR9 0AB
Independent Examiners: Lifestyles Accountancy, 39 Kirklees Road, Southport, PR8 4RB
Legal Advisers: Hill Dickinson, St Pauls Square, Liverpool, L3 9SJ
Architect: Mr Volland, NJSR, 57-59 Hoghton Street, Southport, PR9 0PG

Page 1 of 15

EMMANUEL PARISH CHURCH PCC

REPORT OF THE PCC FOR THE YEAR ENDED 31 DECEMBER 2024

STRUCTURE, MANAGEMENT AND GOVERNANCE

Emmanuel Parish Church PCC operates under the Parochial Church Council Powers Measure 1956. We are a registered charity with charity number 1131223.

Appointment of PCC members is set out in the Church Representation Rules. All members of the Church are encouraged to register on the Electoral Roll and to stand for election to the PCC. The PCC has three subcommittees: the Standing Committee, which consists of the Incumbent, Reader, Churchwarden and Treasurer; Finance Committee; and Fabric Committee. Ad hoc committees are convened as and when required.

Day to day management of the Church is exercised by the vicar in conjunction with the standing committee of the PCC which includes the Churchwarden: Mrs Linda Dewing.

Risk Assessments

To identify the major risks the PCC undertake a risk assessment. Procedures are then put in place to manage those risks and minimise their impact on the life of the church. The main areas are set out below:

Financial Risk

An annual budget is prepared and monitored against actual performance. The Finance committee reviews the results on a regular basis and provides reports to each meeting of the PCC. The church’s investments are also reviewed annually, and whenever reports from the diocesan fund managers are received. A report is then provided by the Finance committee to the PCC. Investments are made only in funds approved by the diocese and managed by CCLA Investment Management Ltd specifically for charities. Buildings and tangible assets are insured and levels regularly reviewed. A system of internal control has been approved by the PCC to cover cash handling, payments and bank transfers, and this system is kept under regular review.

Health and Safety

Reviews are undertaken regularly by a member of the church. The PCC are informed of any risks and any action that has been taken. Procedures are in place for recording accidents. The procedures are reported annually to the PCC.

Safeguarding

PCC members and those working with children or vulnerable adults are checked, registered and trained in accordance with the Diocesan Safeguarding Policy. The policy was last reviewed in 2021 and put into place. Online training for volunteers has been completed. A copy of the most recent updated policy is available upon request.

Formal risk assessments are recorded in the PCC’s Risk Register and reviewed annually. The Risk Register is kept with the Accident Recording book in the Churchwardens’ office.

Page 2 of 15

EMMANUEL PARISH CHURCH PCC

REPORT OF THE PCC (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

OBJECTIVES AND AIMS

The PCC (Powers) measure 1956 states "the PCC is to co-operate with the minister in promoting in the parish the whole mission of the Church, pastoral, evangelical, social and ecumenical."

Membership of the PCC also involves the acceptance of the responsibilities laid down in the Synodical Government Measure 1969 relating to PCCs and the other legal responsibilities involved.

The PCC has given consideration to the Charity Commission's guidance on public benefit and, in particular to he specific guidance to charities concerned with the advancement of religion. Our objectives in the year were to provide the following public benefits:

Our mission is to bring God into people's lives; our purpose here is to serve Jesus Christ.

Our objectives for 2024 included the following:

In 2024 we achieved:

Page 3 of 15

EMMANUEL PARISH CHURCH PCC

REPORT OF THE PCC (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

ACHIEVEMENTS AND PERFORMANCE including review of charitable objectives

We aimed to achieve all the objectives set out, however some of these are ongoing and some will be addressed in the course of 2025.

The electoral roll

There were 75 (2023 - 73) names on the electoral roll for this year.

Worship

The average weekly attendance was 40 Midweek Communion average attendance was 7. Messy Church stopped for a break in October. Easter saw 16 at the Maundy Thursday Service and 38 and 1 child adults on Good Friday. 88 adults and 1 child attended on Easter Sunday. On Easter Saturday we had 21 adults and 18 children at the Easter extravaganza. There were 51 people in attendance at the Midnight Communion service on Christmas Eve. During the year Emmanuel held 16 Baptisms, 4 Weddings and 5 funerals in church. There were 4 funerals held at the Crematorium and 7 burial of ashes in the Garden of Remembrance.

Pastoral care and service to our community

Rev Stewart McTaggart has visited parishioners and provided Pastoral care and support this year, particularly as members of our congregation have found it necessary to enter nursing homes.

Holiday club did take place in 2024 with 63 children attending.

Prayer Group have been meeting every Thursday at 3.30pm and the Bowling Club are back to their regular meetings.

Youth and Children's Work

The Beavers, Cubs, Scouts, Rainbows, Brownies and Guides continue to meet. Rev Stewart McTaggart has visited the uniformed organisations, developing our links with them. The uniformed organisations have taken part in services and were involved with the Christmas Fair.

Other Activities

A successful Christmas Fair was held at the end of November 2024.

Page 4 of 15

EMMANUEL PARISH CHURCH PCC

REPORT OF THE PCC (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

ACHIEVEMENTS AND PERFORMANCE including review of charitable objectives - continued

Church Buildings

General maintenance has been carried out to the church together with repairs to the Clergy Vestry roof following the dry rot discovery, and the woodworm in the plinth of the organ seat.. The grounds have continued to be maintained by a willing group of volunteers and we are continuing to pay a gardener to help volunteers with this task.

The church is in general good order. The terrier and inventory have been maintained and all goods and chattels remain in place.

FINANCE, GIVING, FUNDRAISING, FINANCIAL REVIEW AND INVESTMENTS

The accounts for 2024 show income of £95,862 compared to £82,147 in 2023. The increase overall being from a generous legacy of £33,520. By removing this, underlying income has dropped by about £19,800.

Total expenditure in the year was £258,542 compared to £192,068 in 2023. This remained higher than the income received in the year as we spent a further £141,000 on dry rot repairs from the money given as a legacy in 2022.

The investments in the endowment funds continue to be managed by CCLA and showed an increase in 2024 of around £7,000 despite cashing in £100,000 in the year. The original legacy of £110,000 has now increased in value to £156,889 and produces a yield of around 3% per year for maintenance of the church activities.

Our budget for 2025 generally maintains the previous years levels and shows planned expenditure of £105,000 including £65,000 for parish share. Anticipated income of £68,500 is more realistic given that the congregation has reduced in numbers and income has reduced from some regular givers for various reasons. We expect an operational deficit of £36,500 which will have to continue to be funded from our reserves that have accumulated due to the legacies received in prior years.

Page 5 of 15

EMMANUEL PARISH CHURCH PCC

REPORT OF THE PCC (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

PLANS FOR THE FUTURE

Our objectives for the coming year include:

This report was approved by the PCC on …................. 2025 and signed on its behalf by:

….............................. Rev Stewart McTaggart Vicar

Page 6 of 15

EMMANUEL PARISH CHURCH PCC

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

This report on the financial statements of the PCC for the year ended 31 December 2024, which are set out on pages 8 to 15 is in respect of an examination carried out in accordance with the Church Accounting Regulations 2006 ('the Regulations') and section 145 of the Charities Act 2011 ('the 2011 Act').

Respective responsibilities of the PCC and the 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) the 2011 Act and that an independent examination is needed. It is my responsibility to:

Basis of independent examiner's statement

My examination was carried out in accordance with 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 consideration of any unusual items or disclosures in the accounts, and seeking explanations from the PCC 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 the course of my examination, no matter has come to my attention:

….............................. Signed

….............................. 2025 Dated

Daniel Styles FCA Chartered Accountant Lifestyles Accountancy Limited 39 Kirklees Road Southport PR8 4RB

Page 7 of 15

EMMANUEL PARISH CHURCH PCC

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

Note
INCOME AND ENDOWMENTS
Donations and Legacies
2a
Income from trading activities
2b
Investment Income
2c
Income from charitable activities
2d
TOTAL INCOME AND ENDOWMENTS
EXPENDITURE
Charitable activities
3a
Fundraising costs
3b
TOTAL EXPENDITURE
NET INCOME/(EXPENDITURE) before
gains and losses on investments
Gain/(loss) on investments - unrealised
NET INCOME/(EXPENDITURE)
Transfers
BALANCES at 1 January 2024
BALANCES at 31 December 2024
Unrestricted
Restricted
Endowment
TOTAL
TOTAL
Funds
Funds
Funds
2024
2023
£
£
£
£
£
51,150
-
-
51,150
29,043
20,879
-
-
20,879
24,530
14,131
-
-
14,131
13,877
9,702
-
-
9,702
14,697
95,862
-
-
95,862
82,147
258,542
-
-
258,542
192,068
-
-
-
-
-
258,542
-
-
258,542
192,068
(162,680)
-
-
(162,680)
(109,921)
41
-
7,205
7,246
20,734
(162,639)
-
7,205
(155,434)
(89,187)
100,000
-
(100,000)
-
-
176,803
5,406
249,684
431,893
521,080
114,164
5,406
156,889
276,459
431,893

Page 8 of 15

EMMANUEL PARISH CHURCH PCC

BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2024

Notes
FIXED ASSETS
Tangible
5
Investments
5
CURRENT ASSETS
Debtors & prepaid expenses
Short term CCLA deposits
Bank balances
CURRENT LIABILITIES
Creditors-amounts falling due in one year
NET CURRENT ASSETS
TOTAL NET ASSETS
PCC FUNDS
Endowment
5
Restricted
6
Designated
6
Unrestricted
6
2024
£
1,000
158,724
2,059
95,629
20,575
118,263
1,528
1,528
116,735
276,459
156,889
5,406
80,000
34,164
276,459
2023
£
1,000
251,478
3,713
159,482
18,571
181,766
2,351
2,351
179,415
431,893
249,684
5,406
142,348
34,455
431,893

Approved by the PCC on …................ 2025 and signed on its behalf by:

…………………………………… Mrs Linda Dewing Churchwarden

…………………………………… Rev Stewart McTaggart Vicar

Page 9 of 15

EMMANUEL PARISH CHURCH PCC

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1 ACCOUNTING POLICIES

The financial statements have been prepared 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 R of I (FRS 102) as amended.

The financial statements have been prepared under the Charities Act 2011 and the 2008 accounting and reporting regulations based on the current version of the Charities SORP (FRS102). Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated. 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 affiliation to another body nor those that are informal gatherings of church members.

Funds

Endowment Funds are funds the capital of which cannot be used but the income can be used for general purposes.

Restricted Funds represent donations or grants received for a specific purpose and can only be used for that purpose. Any balance left is carried forward in that fund. The funds are not separately invested and interest received is apportioned to individual funds on an average balance basis.

Designated Funds represent grants or donations to general funds which have been subsequently designated by the PCC for specific purposes and can be undesignated back to general funds at a later date by the PCC.

Unrestricted Funds are general funds which can be used for the ordinary purposes of the church. Funds not immediately required are invested on short term deposit with CCLA deposit funds.

Income and endowments

Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the income to which they relate is received. Grants and legacies are accounted for when the PCC is legally entitled to the specified amount and where appropriate treated as restricted funds. Dividends are accounted for when receivable and interest is accrued. All other income is recognised when it is receivable. All income is accounted for gross without deducting related expenditure. Donated professional services and facilities are recognised as income at open market value when the charity has control over the item. General volunteer time is not recognised.

Expenditure

Grants and donations are accounted for when paid or when awarded by the PCC. Parish share is accounted for when due. Donations for mission, wedding and funeral fees for occasional offices and expenditure out of restricted grants and donations are dealt with as restricted funds. All other expenditure is generally recognised when it is incurred and is accounted for gross without deducting related income.

Fixed Assets

Consecrated and benefice property is not included in the accounts in accordance with s.10 (10)(a) of the Charities Act 2011. Moveable church furnishings held by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property listed in the church's inventory. Anything purchased or donated after 2005 costing or valued over £1,000 will be shown in the accounts as furnishings. Equipment used within the church premises and halls is depreciated over four years but items costing or valued at less than £1,000 are written off in the year of acquisition. Land at Radnor Drive has been included at an estimated value of £1,000 as no historic cost information is available. Investments are valued at market value at 31 December.

Page 10 of 15

EMMANUEL PARISH CHURCH PCC

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

1 ACCOUNTING POLICIES (continued) Reserves

The PCC is encouraged to hold reserves to meet regular anticipated expenses for at least three months which would amount to around £30,000. At present the free general reserves are in surplus by £34,164 (2023 - £34,455) excluding designated funds. The decrease in the year was due to the generous legacy received in 2022 being spent on property repairs. Reserves are now back to expected levels but unless the ongoing deficit can be reversed it is likely that the designated funds would need to continue to be reduced in the coming years to fund this.

2 INCOME AND ENDOWMENTS

a Donations and legacies:
Planned giving
Income tax and vat recoverable
Cash collections
Legacies
Sundry donations
Insurance claims and grants
b Income from trading activities:
Fetes, concerts and attic sales
Church halls income
Tower rental income
c Investment income:
Endowment bequest interest
CBF funds interest
Radnor Drive rent
d Income from charitable activities:
Weddings & funerals
TOTAL INCOME AND ENDOWMENTS
Unrestricted
Restricted
TOTAL
Funds
Funds
2024
£
£
£
11,747
-
11,747
5,883
-
5,883
-
-
-
33,520
-
33,520
-
-
-
-
-
-
51,150
-
51,150
-
-
-
6,044
-
6,044
14,835
-
14,835
20,879
-
20,879
5,185
-
5,185
8,011
-
8,011
935
-
935
14,131
-
14,131
9,702
-
9,702
9,702
-
9,702
95,862
-
95,862
TOTAL
2023
£
13,976
3,384
5,077
-
73
6,533
29,043
1,239
4,747
18,544
24,530
6,730
6,297
850
13,877
14,697
14,697
82,147

Page 11 of 15

EMMANUEL PARISH CHURCH PCC

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

3
EXPENDITURE
a Church activities and mission:
Messy church & equipment
Charity donations
Ministry activities:
Parish share
Wedding & funeral fees
Clergy housing
Clergy locums travel & phones
Church buildings & worship:
Heat, light, water & insurance
Repairs & maintenance
Church halls costs
Musicians & equipment repairs
Services, stationery & magazine
Bookkeeping fees
Independent examiners fees
Bank charges
a Total church activities and mission costs
b Fundraising costs:
Cost of generating funds
TOTAL EXPENDITURE
Unrestricted
Restricted
TOTAL
Funds
Funds
2024
£
£
£
1,041
-
1,041
60
-
60
1,101
-
1,101
62,348
-
62,348
2,660
-
2,660
4,369
-
4,369
3,452
-
3,452
72,829
-
72,829
20,214
-
20,214
156,083
-
156,083
4,214
-
4,214
847
-
847
2,417
-
2,417
526
-
526
100
-
100
211
-
211
184,612
-
184,612
258,542
-
258,542
-
-
-
-
-
-
258,542
-
258,542
TOTAL
2023
£
1,755
4,000
5,755
62,346
2,871
417
1,955
67,589
16,722
84,532
7,869
3,137
6,082
-
100
282
118,724
192,068
-
-
192,068

4 STAFF COSTS

During the year the PCC engaged an organist and verger for church and cleaners for the halls who received fees for performances under a contract for services not under a contract of employment. Gardening and cleaning services were provided for church buildings on a voluntary basis. No payments other than for minor expenses were paid to PCC members or their families. A small portion of the expenses paid to the incumbent may have related to their services as chair of the PCC.

Page 12 of 15

EMMANUEL PARISH CHURCH PCC

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

5 FIXED ASSETS

(a) Tangible

Land at Radnor Drive, Churchtown presently held on long lease from Sefton Council until 2041 at a rent of £20 per annum and currently used by Emmanuel Scout group has been valued on current use at £1,000 by the PCC.

(b) Investments
Units
Endowment Funds
CBF Investment growth shares
5,587.02
CBF Fixed interest funds
18,577.07
Unrestricted Funds
CBF Investment income shares
79.36
Cost
Market value
2024
£
£
55,084
129,187
32,380
27,702
87,464
156,889
953
1,835
88,417
158,724
Market value
2023
£
222,794
26,890
249,684
1,794
251,478

6 FUNDS

(a) Endowment Funds

The endowment fund is a permanent endowment of the Foinquinos bequest which requires that only the income can be spent on the general work and ministry of the church with the capital invested.

(b) Restricted Funds

Charities & Mission
Memorial Chapel
2024
Income
Expended
£
£
£
1,568
-
-
3,838
-
-
5,406
-
-
2023
£
1,568
3,838
5,406

The Memorial Chapel Fund is restricted to improvements to the Chapel in the South Transept. Other Restricted Funds are to be used in accordance with their restriction.

(c) Unrestricted Funds

(c) Unrestricted Funds
Mission Fund - Designated
Legacy Fund - Designated
Total Designated Funds
General Fund
2024
£
75,000
5,000
80,000
34,164
114,164
2023
£
137,348
5,000
142,348
34,455
176,803

The Mission Fund is designated for use in the wider mission of the church. The Legacy Fund is designated to improve church growth.

7 Analysis of net assets by fund:

Fixed assets
Net current assets
Fund balance
Unrestricted
Restricted
Endowment
TOTAL
TOTAL
Funds
Funds
Funds
2024
2023
£
£
£
£
£
2,835
-
156,889
159,724
252,478
111,329
5,406
-
116,735
179,415
114,164
5,406
156,889
276,459
431,893

Page 13 of 15

EMMANUEL PARISH CHURCH PCC

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

8 CHURCH GROUPS ACCOUNTS

Group
Purpose
Bank
Bowling Club
Britannia
Events
To provide bowling facilities for
parishioners
To promote mission, fellowship &
fun with events funded by
Balance
Balance
31 12 23
Receipts
Payments
31 12 24
£
£
2,300
1,388
298
3,390
1,022
2,330
1,088
2,264
3,322
3,718
1,386
5,654

Scouts, Guides and Mothers Union groups are responsible to their own Charitable Bodies. Other Emmanuel groups not listed above do not maintain separate bank and cash funds but process their transactions through the Church's general funds.

Page 14 of 15

EMMANUEL PARISH CHURCH PCC

BUDGET INCOME AND EXPENSES FOR THE YEAR ENDED 31 DECEMBER 2024

Income
Cash collections
Planned giving
Sundry donations
Tax refunds
Fees and Mast Income
Events
Halls income
Magazines & other income
Investment Income
Insurance claims and grants
Gift Day excluding tax
Total Income
Expenditure
Parish share
Ministry and fees
Church heat, light, water, insurance
Halls heat, light, water, insurance & repairs
Worship services, mission & office
Total Expenditure
Operating (Deficit) for the year
Grants and Legacies
Church repairs
Gain on Investments
Adjusted (Deficit)/Surplus
Budget
2025
5,000
12,000
-
5,000
25,000
2,500
5,000
-
10,000
-
4,000
68,500
65,000
10,000
20,000
5,000
5,000
105,000
(36,500)
-
-
-
(36,500)
Actual
Budget
2024
2024
-
6,500
11,747
15,000
-
-
5,883
5,000
25,472
30,000
-
2,500
6,044
5,000
-
-
13,196
10,000
-
-
-
4,000
62,342
78,000
62,348
65,000
10,481
6,000
20,214
17,000
4,214
8,000
5,202
15,000
102,459
111,000
(40,117)
(33,000)
33,520
-
(156,083)
(70,000)
7,246
-
(155,434)
(103,000)

Page 15 of 15