Parochial Church Council of St Peter & St Paul Abington, Northampton End of Year Financial Statements Year ending 31 December 2023
St Peter & St Paul Abington, Northampton Contents Page Legal and administrative infomiation Report of the Church Council Independent Examiners, report Statement of financial activities Balance Sheet Notes forming part of the financial statements 9-11 Page 2
St Peter & St Paul Abington, Northampton Legal and Administrative infomiatlon Commlttees and Members as at 31 December 2023 Standing Commlttee Rev Byung Jun Kim (Chaimian) Bob Purser Donald Loe James Mercer Melissa Tallack Damian Pickard Susie McKay Alison BarneslElizabeth Kellyl Prester Coleman Children and Young Persons Cathy Tinsley (Coordinator) Rev Tracy Pegram Rev Byung Jun Kim Susie McKay Esme Cushing Flnance and Stewardshlp Damian Pickard {Chair} Susie McKay Donald Loe Bob Purser Rev Byung Jun Kim Mlnlstry Rev Byung Jun Kim (Chair) Rev Tracy Pegram Alison Barnes Elizabeth Kelly Prester Coleman Cathy Tinsley Tim Dolan James Mercer Donald Loe Bob Purser Bulldlngs Comrnltt•• plus Health and Safety Andrew Munns (Chair) Donald Loe John Langley James Mercer Dorothy Bonsall John Wishart Paul Tharby Chris Waters Emmanuel Agudosy Dlsclpleship and Learnlng Prester Coleman (Chair) Rev Tracy Pegram Alison Barnes Douglas Rutherford Alan Sutton Jane Evans Jenny Mercer Dianne Ward Matthew George Community and Outreach Melissa Tallack {Chair) Rev Byung Jun Kim Rev Tracy Pegram Elizabeth Loe Sue Harrison Damian Pickard Elizabeth Kelly Amanda Burrell Dianne Ward Bob Purser Cathy Tinsley Dèanery Synod Matthew George Damian Pickard Bob Purser Rev Byung Jun Kim Rev Tracy Pegram Poge 3
St Petgr & St Paul Ablngton. Northampton Report of the trust•6s for the year ended 31 Decomber 2023 The Parochial Church Council presents their annual report and financial statements of the Church for the year ended 31 December 2023. Legal and administrative infomation set out on page 3 fomis part of this report. The financial statements comply with current statutory requirements, the memorandum of association and the Statement of Recommended Practice - Accounting and Reporting by Charities. ObJectlves of the Church St Peter and St Paul aims to provide a c8ntre of Christian worship and outreach within the traditions of the Church of England, offering pastoral care, teaching and Servi within the local community. The Church premises are used to provide a full range of activities throughout the w8ek using church members and third party providers. There have been no changes in objectives since the last annual report. Investment pollcy The PCC manages Its investments through CCLA Investment Management Limited, and the C8F Church of England funds. A balanced portfolio of cash. equities and gilts is maintained designed to preserve capital value and provide an investment income to support Church activities. Additional funds were invested with CCLA Investment Management Limited in 2023 in UK and Global Equity funds. Rgvlew of the Church's Financlal Actlvltles The total income for the year was £167,957. Planned regular giving levels remained consistant with the prior year, thanks to the generosity of donors, while fundraising and rental income (from both the church rooms and the property in Lime Avenue) increased in 2023. Total expenditure for the year was £168,202, resulting in a small deficit of income over expenses for the year of £245, before revaluation of investments. The daficit has been funded from resetves. A stewardshlp campaign is planned for 2024. A new designated fund was estsblished to provide for the future repair of the church organ. £10,000 was transferred to this fund in 2023. A historic balance of £13,798 of restricted funds that was no longer required, was transferred to the general fund with the approval of the Finance Committee and PCC. The PCC considers that the reserrfes held are adequate to continue the Church's objectives going forward. Future developments A full report of the developments, activities and achievements of the Church during the year is presented to the Church Annual General Meeting. A copy of Ihe 2023 report can be obtained from any of the church officers. Reserves policy The PCC consider that the total current assets of £162.591 (total net assets £285,374) as at 31 December 2023 are sufficient to sustain its operations over the forthcoming year. Page 4
st Peter & St Paul Abington, Northampton Report of the trustaes for the year ended 31¥t December 2023 (continued) Risk managamant The PCC have assessed the major risks lo which the church and the church rooms buildings are exposed, in particular those relating to safeguarding. fire safety and health and safety of the operations and finances of the church. The PCC is satisfied that the systems are in place to satisfactorily mitigate our exposure to the major risks. Council membe9 responsibilities in relation to the financial statemonts The law applicable to charities in England and Wales requires the PCC members to prepare financial statements for each financial year which give a true and fair view of the Church's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements. the members are required to: select suitsble accounting policies and then apply them consistently., make Judgments and estimates that are reasonable and prudent: state whether applicable accounting stsndards and statements of recommended practice have been followed subject to any departures disdosed and explain8d in the financial statements: and Prepare the financial statements on the going concem basis unless it is inappropriate to presuma that the charity will continue in business. The council members are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the church and enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the church and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. Independent Examlners A resolution will be proposed at the Annual General Meeting that TaxAssist Accountsnts be re- appointed independent examiners to the charity. Approved by the PCC on 18 Afr-il and signed on its behalf by: Rav Byung Jun Kim Rector Page 5
Independent examiners. report to the trustses of St Peter & St Paul: Abington. Northampton We report on the accounts of St Peter & St Paul: Abington for the year ended 31 December 2023 which are set out on pages 7 to 11. Respective responsibilities of members and examinèr As members of the PCC, you are responsible for the preparation of the Financial Statements: you consider that an audit is not required for this year (under section 43{2) of ihe Charities Act 1993 (the 1993 Act)). the audit requirements of Regulation 3(3) of the Church Accounting Regulations 1997 do not apply and that an independent examination is needed. It is our responsibility to.. examine the accounts (under section 43(3)(a) of the 1993 Act); to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 43{7)(b) of the 1993 Act),. and To state whether particular matters have come to our attention. Basis of Indopendont examlners. report Our examination was carried out in accordan with the General Directions given by the Charity Commissioners. An examinats'on 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 the seeking of explanations from you as members conceming any such matters. The procedures undertaken do not provide all Ihe evidence that would be required in an audit and. consequently. we do not express an audit opinion on the view given by the Financial Statements. Independent examiners, statemont In connection with our exarnination, no mattèr has come to our attention which gives reasonable cause to believe that, in any material respect, the requirements: to keep accounting records in accordance wth s41 of Ihe 1993 Act; and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 1993 Act have nol been met- or to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Approvèd an¢ signed on 2d APA &2Lt TaxAssist Accountants 149 Park Avenue North Northampton NN3 2HY
Sl Petar & St Paul Abington. Northampton statement of Financial Activities for the year ended 31 December 2023 Unrestricted funds Rulrlcted EDdowmertt funds funds Totgj fund5 Prior yeAr total funds Incom• and gndowments from: Donations and legacies Incomè from chantab18 ac11ve$ Other trading acknwties Investsnenls 0th8r Incom& Total incom• 114.640 6.216 23.157 13.926 10.018 167,951 114,640 6,216 23.157 13,926 10.018 167,9S7 203,264 8,236 19,747 10,872 23.573 265,692 Exp•ndltur• on.. Raising funds Expenditure on ch8Tltabl• acti11 Total oxp•ndltuM 234 167,968 168,202 234 167,968 168.202 187.038 187,038 Gains I losses on investment awts N•t in¢om• I l•xpondltur•} rn8ouK•• b•lor• transfor 1245) {2451 78,654 Tran$forn Gross trdnslérs bèwn ftbnds- in Gross transf8r8 be¥¥n lunds- out Oth•r f•cognS$•d galns I loss Gains on revaluation, fixgd &ss•ts. tharivs (wn u80 N•t mov•m•nt In funds 23.798 110.000) 23,798 123,7981 (13,7961 5,437 18.990 5,437 5.192 5.643 73.011 {13.7981 Total funds bn>ught fotward 266.384 13.798 280,182 207,171 Total lund• lorntAnl 285.374 285,374 280.182 R•pr•s•nt•d by Unr•¥tdctgd Ggn•ral fund 275.374 275.374 266.384 008lgnat•d Designated fund 10.( 10.000 R•strlet•d Ag$ncy collacbon 13.798 Page 7
St Peter & St Paul Abington, Northampton Balance sheet as at 31 December 2023 CIASS and code Deserl tion ear L•$t ear Fixed a55•ts 6000 6010 6030 6040 6050 6060 21 Lime Avenue ChLtrch RcM)m5 Church Organ Short lrfe 8ss8ts- software Short life assèts- harre Fumittjre nd 8quipment Total Flx•d •$$•ts 41,000 99,939 42,640 99.939 2,915 1.284 145.138 4.843 321 147,743 Curr•nt as•ts 6500 6505 6510 8550 6560 6570 6580 6590 Z05 Lloyds Bank Ac CKJOO1375 Nat Wesl Ac 78492092 CCLA ICBFI d8POSit a¢1 CCLAICBFIFixed Interest snI1&s FuThJ CCLAICBFllnvestment Fun(1 CCLA IC8FIGlobal Equity Fund CCLA ICBFI UK Equity FwKI Cash in hand Accounts Receivable Total Current assgts 3,827 2,950 48.803 28.883 29,603 26.665 19,972 477 1,410 162,590 10,299 35,191 30,136 12,648 27,037 667 53.300 169,278 Llabllltl•• 6650 6699 Z04 Ekins Youlh brkof grant Agency coll8ction¥ Accounts Payablo Total Llabllbtl•s 11.001 2,482 8,871 22.354 20,576 1.500 14.763 36.839 N•t A•••t ¥urplu• 280 182 Resorv• Ex¢o$8 I Id•fiatl to dale Stsrbng balances Other g8inslllossas) Gainsll1O5s} on investment Totsl R•s•r¥•* 12451 280,182 78,654 207,171 Z01 Z02 Z03 5.437 285,374 280,182 Reprns•nt•d by lund• Unr6strKted Dè51gnated Reslncled Enthiwmenl Total 275,374 10,0(X) 266,384 13.798 285,374 280,182 Page 8
St Peter & St Paul Abington. Northampton Statement of assets and liabilities as at 31 December 2023 General Desi 4ted RestrSrted EndowDJellt Tbi5 ear Last ¢4r Flxod 4$s9t¥-Tanglbl• ass•ts 21 Lime Avgnu8- Church Roorns- Church 8oilér- Short lrfe a&ts- har¢h¥8ro- Fumilur8 and equlpm8nl- 41,lJXI .939 41,0 99.939 42,640 99.939 2.915 1.284 14&13 2,915 1,284 14SIJB 4.843 321 147.743 Totsls Cumnt a#8ets- Cmh at l)4nk thwl kn hand Lloyds Bank Ac 001375- N8t Wesl 78492092- CCLA ICBFI deposit a¢Kcwnl- Cash in hand. 3.827 1.055 38.803 3.827 2.950 48.803 477 56.057 10,29tr 35,191 30.136 667 71293 10.Crf)J 4T1 2.3n Tothli 43.885 10,000 Curr•nt U8•t8. O•btorn Accounts RK•lvFAbl•. 1.300 1.300 110 1.410 1,410 53.300 53,300 Tot•b¥ Curr•nt •. lrtv••b•nt• CCLAICBFIFLKed Interest S•curfU•¥ Fwd- CCL4ICBFllnvestmont Fund- CLA IC8Flobd Equrty FuTha- ¢CLA ICBFI UK Equity Fund- 28,883 29,603 26.665 19.972 105.1r4 2B.883 29,603 26,665 19,972 104123 12,648 27,037 Totals 39,888 L14blllUg¥. Ag•ney ¢CotI Agenw lIati10- Totsl• 2A12 2,482 1,500 Ll•bllltlM. Cr•d]tor•: Amounts l•lllng In on• y•ar AOUnt1 Pay8ble- 8.871 8,871 8.871 8,871 14,762 14762 Totsl Ll•blllll••- Provl8lon lor Il•bllttb•• ¢h4rg•a du• wlthln on• y••r Ekin$ Youth worter granl- 11.001 20.677 Totsi• 11,001 Gr•nd toi•l 285 374 280 182 Fund movement by type eni Ot oin Trn8feri GAlnillos8eJ J•urn*ls Closin D•$. Dloated fund D&signat8d 10.000 10.000 10,000 10,000 Sub4•1 for D G•n•ral- G•n•rnl fvnd UTrreslnd•d 167,9S7 167,957 168,202 168.2ty1 3.798 3.798 275,374 275,374 Su&total for G•n•nl 216,384 SA37 A90y. Aw¢y coll•dlon Rostiicled 13.798 13,798 SulAol•l forAg•n¢y Grand total 285 374 Page 9
Sl Peter & St Paul Abingion, Northampton Analysis of income and expenditure year ended 31 December 2023 Tot•1 e4r ttrestrlded D
ted
EDd&wment This L8St ear INCOME AND ENDOWMENTS Donatlons and lega¢les 0101-GIftAd- 8ank 0110 - Gfft "d - Envelo 0301 Loosè plato collactions- Sunday 58rv 0302 - Loosè plat• cash . Wedding8 & funerals 0303 - Loo$& plate cash- occasional servic$ 0401- Tea coffeo & w8lls8fe osh 0410- Non Gift Ajd donati¢)ns 0501- One-off Gift Aid grfts 0510- Onlin& donations 0550- Spécial cash collections 0601 - Tax rèeov8rab18 on Gift Aid 0701 Leg¥ci8s 0801- RUrTing grants 08A1 Non-rècurring one-off gran18 0901- Othgr lund$ genarntod 76.059 1,675 76,059 1,675 76,239 314 90 119 119 71 88 3.079 too 5,199 2,839 3.079 100 S.199 2,839 2,017 604 10,537 1,670 14.852 21.210 67.897 25 6,278 1,3712 203,264 22.788 22.788 1.500 1.282 114.640 1.282 114,640 Tol81 Income from charltabl• a¢tlvltl•s 1101 - Fo&8 lor dd1rS and fvn8ra18 6.216 6,216 8,236 Tot81 6.218 6,216 8,236 Other tradlng actlvttles 0910 - Fund raising Income 1240- Church hall l•thngs- ralsing 6,310 16,847 6,310 16.847 5.120 14,627 23,157 23,157 19,747 Invostrnonts 1001- C8F Fund DNidend¥ 1020- CBF Fund interesl 1030- R8nt from Curatsge 2.330 1.336 10.260 13.926 2,330 1.336 10.260 13,926 1,169 378 10.872 Oth•r Income 0810- Ekins Youth Workèr grant release 1310 - Insuranc claims 9.575 9.575 8,482 443 10,018 443 10,018 167,957 15.091 23,573 265,692 Total INCOME TOTAL Page 10
St Peter & St Paul Abington. Northampton Tot egr Unres¢rictcd De51 ated Restritted Endowment This Lg$t e#r EXPENDITURE Ralslng funds 1730- Costs of f8t8s & olher events 234 234 234 234 Totsl Exp•ndlture on charltable a¢tlvbtle$ 17SO- DepciatIOn - all a$ts 1760- Bank charg8S 1850- Mission and outr88th 1870- Giving to charftie8 1901 - Dio¢es8n fees paid 1910- Parish shar& 2020- Eking youth workèr salary 2030- Ekins youth work éynsès 2101- Rector t818phona aThJ station8ry 2102- Rector travel 2103- Rèctor training. bc¥Jks and Bubs 2104- Rector- tslh•r •xponses 2150- Curatès travel 2151- Cural•- othor èxpenses 2201 Parish training and mi8sion 2210- Porl$h e8tanng 2310- Chur¢h - t6knphon8 2320 - Organ I plano tvnino 2321 - Choir mast8f lees 2322 - Choir expenses 2323 - Music oxpenses 2324- Flower oxpenses 2330- Church repair¥ and maint•nanc• 2331- Church - Cleaning 2332 - Church - w8l•r 2340 - Worship matgrials 2341 - Onlin8 worship costs 2350- Upkeep ol churchyard 2360 - Church Stationery 2365- Church office expenses 2370- Chur¢h bSIt 2380 - Copyrighl licences 2400- Church Nnnln9- Insuranco 2401 Church running - •lectric 2410- Church Nnnlng- ga5 2430- Church- printing and copier 2450- Church- miscdlaneous 2460- Church- bolls 8xp8nses 2520- Rooms- miscellaneous 2S30- Rooms- electricity 2540- Rooms- gas 2550- Rwms- insurance 2560- Rcxjms - repairs and maintena8 2570- Rwms - tolephone 2580- Rrn$- water 2590- R(M$- deaning 2601 - Ind•p8ndent examiner 2701 - Church major r8p8irs- Structur4 2840- Curatage maintonance and fees 3.753 Total 167,968 3,818 3.818 5,151 1,060 106 2,680 75,523 7.280 2.295 1.402 1.528 573 1,407 447 424 251 1.101 572 1.813 7.740 377 342 352 4,493 333 3,642 148 3,112 75.523 7,280 1.203 1,226 978 342 1.601 181 630 167 172 722 1.412 7,740 110 296 316 10,247 279 162 2.680 75.523 7.280 2.295 1.402 1.528 573 1,407 447 424 251 1.101 572 1.813 7,740 377 342 352 4.493 333 186 1.459 401 1,173 155 254 1.214 1.459 401 1,173 155 254 1,214 809 3,303 582 2,153 2,381 2,194 252 497 9,109 197 2,491 13.124 572 433 4,993 360 1,034 1,730 79 332 233 1,0gS 3,033 918 1,467 5,199 238 252 240 6,226 16S 2,288 5,758 722 559 4,497 360 21,198 6,188 187.038 3.303 2.153 2.381 2.194 252 497 9.109 197 2.491 13,124 572 433 4,993 3,753 167.968 EXPENDITURE TOTAL 168.20 2 168.2L12 187,038 GRAND TOTAL 245 245 78,654 Page ll