Parochial Church Council of St Peter & St Paul Abington, Northampton End of Year Financial Statements Year ending 31 December 2024
St Peter & St Paul Abington, Northampton Contents Page Administrative information Report of the trustees Independent Examiners, report Statement of financial activities 12 Balance Sheet 13 Notes forming part of the financial statements 14-18 Page 2
St Peter & St Paul Abington, Northampton Administrative information Committees and Members as at 31 December 2024 Standing Committee Rev Byung Jun Kim (Chairman) Bob Purser Donald Loe James Mercer Melissa Tallack Damian Pickard Susie McKay Alison BarneslElizabeth Kelly/ Prester Coleman Children and Young Persons Cathy Tinsley (Coordinator) Rev Tracy Pegram Rev Byung Jun Kim Susie McKay Esme Cushing Jilly Draper Finance and Stewardship Damian Pickard (Chair) Susie McKay Donald Loe Bob Purser Rev Byung Jun Kim Ministry Rev Byung Jun Kim (Chair) Rev Tracy Pegram Alison Barnes Elizabeth Kelly Prester Coleman Cathy Tinsley Tim Dolan James Mercer Donald Loe Bob Purser Buildings Committee plus Health and Safety Andrew Munns (Chair) Donald Loe John Langley James Mercer Dorothy Bonsall John Wishart Chris Waters Paul Tharby Emmanuel Agudosy Discipleship and Learning Prester Coleman (Chair) Rev Tracy Pegram Douglas Rutherford Alan Sutton Jane Evans Jenny Mercer Dianne Ward Matthew George Bob Purser Sandra Francis 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 Deanery Synod Matthew George Damian Pickard Bob Purser Rev Byung Jun Kim Rev Tracy Pegram Page 3
St Peter & St Paul Abington. Northampton Report of the trustees for the year ended 31st December 2024 The Parochial Church Council presents their Gnnual report and financial statements of the Church for the year ended 31 December 2024. The administrative information set out on page 3 forms part of this report. The financial statements comply with current statutory requirements. the memorandum of association and the Statement of Recommended Practice - Axounting and Reporting by Charities. Aim and Purpose St Peter and St Paul's Parochial Church Courcil (the PCC) has the responsibility of cooperating with the Incumbent. the Revere1 Byung Jun Kim. in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical. As well as the Church itself, whici is a Grade Il. Listed Building, the PCC is also responsible for maintaining the Church Hall in Ashburnham Road. Objectives and Activities The PCC is committed to see God's Kingdom grow in as many people's lives as possible, and to welcome everyone into God's family & "the Church in the Park" When planning our activities, the PCC has considered the Charity Commission's guidance on public benefit, and in particular the specific guidance on charities for the advancement of religion. Our sen4ices and activities put faith into practice through prayer. scripture and service. Following our 800th anniversary in 2024, we shaped our vis on for the next chapter of this church as follows. Inspiring Church: Just like the park inspires people and helps them to encounter God, we aspire to be a church that inspires through worship, prayer. Compassionate Church: Just like the park can be a place of comfort and restoration in God's grace. we pray to be a church that comforts those who are anxious, isolated, marginalised and bereaved through our >ervice and outreach. Generous Church." Just like the park Wel)meS everyone and helps them to flourish in being who they are in God's abundan and generosity. we want to be a church that is generous and welcoming towards stranoers and those who feel distant from God. Achievements and Perfomiance Strategic Focus: Vision for the 800th Anniversary In 2024, St. Peter and St. Paul, Abington, marked the 800th anniversary of the first known Rector of Abington. This naturally became strategic focus of the year. We discerned that the way God wanted us to observe this significant anniversary was not through grand events but by introducing a series of faithful ways to reflect on God's faithfulness and goodness. We used the concept of Ancient Future to guide and frame the events throughout the year. (Ancient Future.. "The road to the future runs through the past" _ Robert Webber. The past gives us wisdom to interpret the future, and tbe future gives us fresh eyes to re-interpret the past. This creates a constant dialogue betwEen past and present, with God always present throughout. ) Page 4
St Peter & St Paul Abington, Northampton Report of the trustees for the year ended 31st December 2024 (continued) Strategic Focus: Vision for the 800th Anniversary (continued) Using this overarching vision, we divided the /ear into four parts: Block 1- Future from the Past.. We celebrated how God has led and sustained us in the past by inviting ministers who previoLsly served the church. Our Annual Fete reflected this theme, with participants drossed in historical attire. Our musical events and the Celebration Concert with Handel's Messiah were wonderful examples of this. Block 2 - Present.. We focused on defining our foundational vision for 'The Church in the Park,, which will guide our activities in 2025 and beyond. A sermon series titled Looking Back with Gratitude, Looking Foiward with Hope was organised. Block 3 - Past from the Future.. We reinterpreted the past through the lens of the present. A six-week visioning exercise Under the Oak, helped us imagine the future by looking back and looking forward. From this, we shaped our four key words for the future: Feeding, Community, Person. and Space. Additionally, we hosted talks on global Christianity and the history of Abington. Block 4 - Kingdom.. As our ultimate ViSii)n is the Kingdom of God, we organised Home Groups focused on this theme. An eight-week sermon series on Kingdom explored it in depth. Through our Celebration Service of Thanksgiving, we baptised 6 disciples through an Outdoor Baptism by Immersion. At our Celebration Service of Rededication, we confirmed 13 disciples and commissioned a new icon (Christ with the Church in the Park) which will be treasured for years to come. Finally, we planted a Red Oak Tree in the park which will remind all of God's promise and faithfulness. Below is the summary of our activities that were led under this strategic focus. Worship and Discipleship Two of the most significant highlights in our VLirship and prayer in 2024 were: The Celebration Service of Thanksgiving with Outdoor Baptism by Immersion, during which we baptized 6 people and K'elcomed another through the renewal of baptismal vows. The Celebration Service of Rededication with Confirmation, where 13 people from our parish were confirmed. It is evident that Abington continues to grow in numbers, including many new Christians. As a liturgical church, our worship remains centred around the Eucharist, yet we maintain strong sense of flexibility and openness to the Spirit. An example of this is our prayer ministry, which takes place during communion. PGge 5
St Peter & St Paul Abington, Northampton Report of the trustees for the year ended 31st December 2024 (continued) Worship and Discipleship (continued) The PCC remains committed to offering a range of services, not just on Sundays, but also during the week, to ensure accessibility and spiritual fulfilment for our community. We are also committed to ministering through prayar and nurturing discipleship in diverse ways. Thursday morning Reflective Services draw worshippers who may be unable to attend Sunday services. Monthly Sunday reflective services are valued by those who appreciate quiet contemplation, while the main Sunda/ service remains vibrant and engaging. Online services continue for those urable to attend services in person. A remote congregation gathers every Sunday Gt St. Christopher's, where about 15-20 people participate in the online service. There are worshippers also in other care homes such as Abington Park View and Cliftonville. We also provide weekly Zoom Compline. All-Age Services: Held approximate y every other month, these services are appreciated by families, young people, and the elderly alike, fostering a truly intergenerational church. Junior Church: Our Junior Church is supported by team of volunteers which has been growing. The JC offers friendship and fun while nurturing young people's discipleship. Prayer Ministry: The presence of prayer ministry remaining visible within our worship has symbolic and practical significanca and value. It is our way of saying that we are people of prayer. We are here to prav for each other and with each other. Home Groups: The growing number Jf home groups in Abington is encouraging. This also prompts us to explore new ways to develop discipleship within our church. The use of overhead screens in Sunday services has now become an integral part of worship, allowing for more dynamic commLnication and sermon delivery. Those unable to attend church are not forgi)tten. In addition to online services, many also receive Holy Communion at home, thanks to our Anna Chaplains. Mission and Outreach The Community and Outreach Committse has been exceptional in fostering outreach and mission efforts. Throughout the year, varicius charitable appeals raised a total of £5,846, which was distributed to: Chole Breakfast Club (Ethiopia) USPG (Missionary Support) Open Doors (Persecuted Christians 'OJorldwide) Friends of the African Church (Ethiop a and the Horn of Africa) Northampton Hope Centre (Homeless Support) Embrace the Middle East (Christian< in Palestine and Israel) The Children's Society Page 6
St Peter & St Paul Abington, Northampton Report of the trustees for the year ended 31$t December 2024 (continued) Mission and Outreach (continued) Our partnership with Baby Basics continues to provide essential support for babies and mothers in need. The Ribbons of Prayer, Season 2 continued throughout the year, reminding the public of God's presence. Over 20,000 ribbons and 2.000 clay hearts (kindly provided by Celia and her art group) carried heartfelt prayers for hope, love, and reconciliation. Our Butterfly Art Project launched in the year to celebrate the diversity and vibrancy of our community. In total over 1 ,440 butterflies weF received and are now displayed inside the church. Other churchyard art projects also proved to be effective tools for proclaiming the Good News in creative and engaging ways. Social events, such as the Quiz Night and Parish BBQ. were greatly enjoyed, and we are grateful to the Tallacks and the Pickards for ttreir generosity and hospitality. Intergenerational Church Our vision of an intergenerational church is closely linked to our mission and outreach. In 2024, we strived to engage people of all ages Ihrough the work of: Cathy (Children and Youth Missioner) Liz (Anna Chaplain for the Elderfy) Key initiatives: Little Fishes and Forest Church provice families and young children with positive church engagement. Two families chose lo baptise their children following these interactions. Family Fun Afternoons continue to be fantastic opportunities for connection, with bouncy castles, picnic areas, and games in the churchyard creating a welcoming atmosphere. School Engagement: The clergy team maintains strong links with Bridgewater Primary and Abington Vale, as well as with Barry Road School and Vernon Terrace Primary, who sought visits to our churctri. Anna Chaplaincy: Our work with St. Christopher's and Abington Park View Care Home has led to exciting initiatives like Messy Vintage. Ministry at St. Christopher's: The Friday Communion Service at St. Christopher's is attended by around 40 people and con-.inues with the support of Deanery Clergy, Pastoral Care is provided by the Rector and Anna Chaplain together with a dedicated team of volunteers. We are grateful to Lizzie, Jackie, Andrew, Elaine, Hilary and many others who support this ministry. Conclusion This report highlights only part of the work carried out by Abington Church. Lay leadership and lay ministry remain vital to every aspect of our mission. P2ge 7
St Peter & St Paul Abington, Northampton Report of the trustees for the year ended 31st December 2024 (continued) Conclusion (continued) 2024 was a truly remarkable year for our chui ch and community. The 800th anniversary reminded us that the Spirit of God is alive and at work. bringing new vision and renewed hope for the future. As we strive to be the church that is inspiring. Jenerous and compassionate in this year. we will continue to discern to create ways to deve op those four key areas identified through our visioning exercise: Feeding, Community, Person and Space. Four key words for the future: Feeding: God calls us to feed his people both physically and spiritually. Community: God calls us to reach out and serve the community so that his love and grace may be visible in this troubled, an>:uS world. Person: God calls us to focus on one pErson at a time, honour and encourage one person's gift at a time. Space: God calls us to make space avalable where people can discover him, receive his love and healing. 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 the 2024 report can be obtained from any of the church officers. Financial Review The total unrestricted income for the year was £186,419 (2023: £167,957), of which £130,155 (2023.. £114,640) was from donatiorL< and legacies. Planned regular giving through the Parish Giving Scheme increased G.80/0 in the year following the stewardship campaign that was held in February. We are bery thankful for the generous response from our congregation. The church also received three legacy gifts in 2024, contributing to the increase in income. Rental income received from the nursery that triire part of the church rooms, and the property in Lime Avenue, both increased in 2024 as cortracts were renegotiated. Total expenditure for the year was £168,008 (2023: £168,202). This was lower than budgeted mainly due to two church maintenance projects being deferred until 2025. The combination of higher income and deferred ex[ienditure resulted in a surplus of income over expenses for the year of £18,411 (2023: deficit £245), before revaluation of investments. After adjusting for the gains on investments, the total increase in funds for the year was £21,888 (2023: £5,191). The church was subject to quinquennial review the summer of 2024. The final report was received in November and confinmed that the ciurch building is in good condition with no major work being required. However, several recommendations and repairs are now planned for 2025. These works, together with tre projects deferred, will be funded from the surplus generated in 2024. Page 8
St Peter & St Paul Abington, Northampton Report of the trustees for the year ended 31 St December 2024 (continued) Financial Review (continued) In 2023 a designated fund was established to Firovide for the future repair of the church organ. A further £5,000 was transferred to this fund in 2024, bringing the total balance on this fund at the year end to £15,000. Investment Policy The PCC manages its investments through CCLA Investment Management Limited, and the CBF Church of England funds. A balanced portfolio of cash, equities and fixed interest securities is maintained. designed to preserve capital value and provide an investment income to support Church activities. Reserves Policy The total net assets at the year-end were £307,262 (2023: 285,374). Of this £141 ,179 is held as tangible fixed assets, the remaining reserveb being held as investments with CCLA and in current and deposit accounts. Apart from the cesignated organ repair fund of £15,000, all reserves are unrestricted. The PCC considers that total current assets of £191,891 as at 31 December 2024 are sufficient to sustain its operations over the forthcoming year. structure, Governance and Management The Parochial Church Council is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC is registered with the Charity Commission, Charitg Number 1131414. The method of appointment of PCC members is set out in the Church Representation Rules. The Council comprises the Incumbent, the ChLrchwardens, representatives of the Lay Ministers, those elected to the Deanery Synod and other members who are elected at the Annual Parochial Church Meeting, by those on the Electoral Roll. Members of the congregation are always encouraged to join the Electoral Roll, and to consider standing for election to the PCC. The PCC members are responsible for making decisions on all matters of general concern and importance in the parish, and for all financial matters. The full PCC met four times during the year. Given its wide responsibilities, the PCC has a number of sub committees, each dealing with a particular aspect of parish life. E=ch report to the full PCC, with the minutes of their meetings. A full list of these sub committees is set out on page 3 of this report. Risk Management The PCC have assessed the major risks to 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 ?CC is satisfied that the systems are in place to satisfactorily mitigate our exposure to the major risks. Page 9
St Peter & St Paul Abington, Northampton Report of the trustees for the year ended 31st December 2024 (continued) Council member's responsibilities in relation to the financial statements The council members are responsible for pre=aring the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales, the Charities Act 2011 and Charity (Accounts and Reports) Regulations 2008, recuires the PCC members to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources. including the income and expenditure, of the charity for that period. In preparing these financial statements the members are required to: select suitable accounting policies and than apply them consistently; make judgments and estimates that are raasonable and prudent; state whether applicable accounting standards and statements of recommended practice have been followed subject to aly departures disclosed and explained in the financial statements. and Prepare the financial statements on the g.?ing concern basis unless it is inappropriate to presume that the charity will continue in business. The council members are responsible for keepng proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Independent examiners A resolution will be proposed at the Annual General Meeting that TaxAssist Accountants be re-appointed independent examiners to the charity. Approved by the PCC on and signed on its behalf by: Yè2tr Rev Byung Jun Kim Rector Page 10
St Peter & St Paul Abington, Northampton Independent examiners. report to the trustses of St Peter & St Paul, Abington, Northampton I report on the accounts of St Peter & St Paul, Ab ngton for the year ended 31 December 2024 which are set out on pages 12 to 18. Respective responsibilities of trustees and examine The charity's trustees are responsible for the preFaration of the accounts. The charity's trustees consider that an audit is not required for this yea" under section 144 of the Charities Act 2011 (the Charities Act) and that an independent exarnination is needed. It is my responsibility to: examine the accounts under section 145 of the Charities Act, to follow the prOdureS laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of thp Charities Act, and to state whether particular matters have Cijme to my attention. Basis of independent examiner's ststement My examination was carried out in accordance Vts'ith 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 the trustees concerning any such matters. The prOdureS unjertaken 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 lirTited to those matters set out in the statement below. Independent examiners. statement In connection with my examination, no material rratters have come to my attention which gives me cause to believe that in, any material respect: accounting records were not kept in accordance with section 130 of the Charities Act or the accounts do not accord with the accouiting records I have come across no other matters in connectii)n with the examination to which attention should wn in order to enable a proper understanding of the accounts to be reached. Signe Tax Assist Accountants 149 Park Avenue North Northampton NN3 2HY Keit r MAAT TaxAssist Accountants 149 Park Avenue North Northampton NN3 2HY
St Peter & St Paul Abington, Northampton Statement of Financial Activities for the year ended 31 December 2024 Unreslricted fund5 Restricted Endowment funds funds Total funds Prior year total funds In¢ome and endowments from: Donations and legacies Income from charitable activities Other trading activities Investments Other income Total in¢ome 130.155 3,974 25.391 16.184 10,715 186,419 130.155 3,974 25.391 16,184 10.715 186,419 114,640 6,216 23,157 13,926 10,018 167,957 Expenditure on: Raising funds Expenditure on charitable activities Other expenditure Total expenditure 546 167.462 546 167.462 234 167,968 168,008 168.008 168.202 Gains I losses on inveslment assets Net income I (expenditure) resources before transfer 18,411 18.411 (245) Transfers Gross transfers between fvnds - in Gross transfers beiween funds - out Other recognised gains I losses Gains on revaluation, fixed assets. tharivs 0 use Net movoment in funds 5,000 (5.000) 5.000 (5.000) 23,798 123.798) 3.477 21.888 3,477 21.888 5,437 5.191 Tolal funds brought forward 285.374 285,374 280,182 Total funds carried forward 307.262 307,262 285,374 Represented by Unrestricted General fund 292.262 292.262 275,374 Dosignated Designated fund 15.000 15.000 10,000 Restricted Agency colle¢tion Page 12
St Peter & St Paul Abington. Northampton Balance sheet as at 31 December 2024 Class and code Descri tion This ear Last vear Flxed assots 6000 6010 6030 6040 6050 6060 21 Lime Avenue Church Rooms Church Organ Short life assets - software Short life assets - hardware Fumilure and equipment Tolal Fixed assgts 39.359 99 939 41.000 99,939 987 894 141.179 2.915 1,284 145,138 Current assets 6500 6505 6510 6550 6560 6570 6580 6Sg0 Z05 Lloyds Bank Ac IhJ001375 Nat West Ac 78492092 CCLA ICBF} deposit accounl CCLAICBFIFixed Interesl srities Fund CCLAICBFllnvestment Fund CCLA ICBF)Global Equity CCLA ICBF} UK Equity Func Cash in hand Accounts Receivable Total Current assets 24.604 1.049 54.367 29.755 30.281 28.333 2C.230 1,972 1,300 191,891 3,827 2.950 48,803 28.883 29.603 26,665 19,972 477 1,410 162,590 Llabilitles 6650 6699 Z04 Ekins Youth worker grant Agency collections Accounts Payable Total Liabilities 10.135 11,001 2.482 8,871 22,354 1",623 25.808 Nel Asset surplus(deficit) 307.262 285,374 Reserves Excess I Idefiall to date Starting balances Gainsl{losses) on investmert assets Total Reserves 18.411 285,374 3.477 307,262 {245} 280.182 5,437 285,374 Z01 Z03 Represented by funds Unrestrictéd Designated Reslricled Endowment Total 292,262 15,000 275.374 10,000 307,262 285 374 Page 13
St Peter & St Paul Abington, Northampton Statement of assets and liabilities as at 31 December 2024 General Desi n*ted Restricted Endoivment This ear Last ear Fixo11 assets - Tangible assets 21 Lime Avenue - Church Rooms- Chur¢h Boilef - Short life assets - hardware- Furniture and equipment - 39.359 99,939 39.359 99,939 41,000 99.939 987 894 141.179 2,91 S 1,284 145.138 894 141,179 Totals Current ass•ts - Cash at bank and in hand Lloyds Bank Ac 001)01375 - Nat West Ac 78492092 - CCLA ICBFI deposit account- Cash in hand - 24.604 1.049 39.367 1.972 66.992 24,604 1.049 54.367 1,972 81,992 3.827 2.950 48.803 477 56,057 15.1K)O Totals 15.000 Current assets - Debtors Accounts Receivable- 1.300 1.3t)O 1,300 1,300 1.410 1,410 Totals Curr•nt assets - Inv•stm•nts CCLAICBFIFixed Interest Securilies Fund- CCLAICBFllnveslmenl Fund- CCLA ICBFIGlobal Equity Fund- CCLA ICBFI UK Equity Fund - 29.755 30.281 28.333 20.230 108,$99 29,755 30,281 28.333 20,230 108.599 28,883 29,603 26,665 19.972 105,123 Totals Liabilities - Agency accounts Agency colleclions - 4,050 4.050 4.050 4.050 2.482 2,482 Totals Llabllltl•$ - Cr•dltors: Amounts falling due in one year Accounts Payable- 11.623 11.623 11,623 11,623 8.871 8,871 Totals Llabllltles - Provlslon for Ilabiliti•s and ¢hargo$ du• wlthln on¢ yèar Ekins Youth worker grant- 10,135 10.135 10,135 10,135 11,001 11,001 Totals Grand total 292.262 15,000 307,262 285,374 Fund movement by type enin Incomin Out oin Transfers Gainsllosse$ Journals Closin Dès - Dasignatod fund D6signated 10.OCKI 10,0110 15.000 15.000 Sub-lotsl for D•s 5.000 G•noral - G•naral fund Unrestricted 275.374 275,374 136.419 136.419 168,008 168.008 3.477 3.477 292,262 292,262 Sub-total for General {s,0001 Aggn¢y- Ag•ney eolloctlon Reslricled Sub-total for Agency Grand total 285,374 1B6419 168,OD8 307,262 Page 14
St Peter & St Paul Abington, Northampton Analysis of income and expenditure for the year ended 31 December 2024 INCOME AND ENDOWMENTS Total ear Unreslrieted Des. nated Restricted Endowment This Last ear Donatlons and legacles 0101 GiftAid- Bank 0110 - Gift Aid - Envelopes 0301 Loose plate collections - Sunday service 0302 - Loose plate ¢ash - Weddings & funerals 0303 - Loose plate cash - occasional services 0401 - Tea coffee & wallsafe cash 0410 - Non Gift Aid donations 0501- One-off Gift Aid gifts 0510 Online donations 0601- Tax recoverabl8 on Gift Aid 0701- Legacies 08A1 Non-recurring one-off grants 0901 Other funds generated 80.495 1,296 80.495 1,296 76.059 1,675 75 75 119 3.224 490 7.915 3,012 21,243 8,685 650 3,070 130.155 3,224 490 7,915 3.012 21.243 8,685 650 3.070 130.155 3,079 100 5,199 2,839 22,788 1,500 1,282 114,640 Total Income from charltable actlvltles 1101 Fees for weddings and fun8rals 3,974 3.974 6,216 Total 3,974 3,974 6.216 Other tradlng actlvltles 0910 Fund raising income 0911 800 years fundraising income 1240 - Church hall lellings fund raising 5.708 902 18,781 5.708 902 18,781 6,310 16,847 Total 25,391 25,391 23,157 Investments 1001 CBF Fund Dividends 1020 - CBF Fund interest 1030- Rent from Curalag8 2,943 2,621 10,620 16,184 2.943 2.621 10,620 16.184 2,330 1,336 10,260 13,926 Total Other Income 0810- Ekins Youth Worker grant release 1310 - Irssurance claims 10,216 10.216 9,575 499 10,715 186,419 499 10,715 186,419 443 10,018 167,957 Total INCOME TOTAL Page 15
St Peter & St Paul Abington. Northampton EXPENDITURE Total ear Unrestricted Desi Mated Restricted Endowment This Last vear Ralslng funds 1730 - Costs of fetes & other events Total 546 546 546 546 234 234 Expendlture on charltable activitles 1750 - Depreciation - all assets 1760- Bank charges 1850 - Mission and outreach 1851- 800 years celebration 1870 - Giving lo charities 1901 Diocesan fees paid 1910 - Parish shar8 2020- Ekins youth wort(er salary 2030 - Ekins youth work expenses 2101 Rector telephone and stationéry 2102 - Rector travèl 2103 - R&ctor training. books and subs 2104 - Rector- other expens8S 2150 - Curates travel 2151 - Curate- other expenses 2201 Discipleship and leaming 2205 - Anna chaplaincy and mission 2210 - Parish catering 2310- Church - telephonè 2320 - Organ I piano tuning 2321 Choir master feas 2322 - Choir expenses 2323 - Music expenses 2324- Flower expenses 2330 - Church repairs and maintenance 2331 Church - Cleaning 2332 - Church - water 2340 - Worship materials 2341 Online worship costs 2350 - Upkeep of chur¢hyard 2360 - Church Stabonery 2365 - Church office expenses 2370 - Church website 2380 - Copynght licences 2400 - Church running- insuranc8 2401 Church running - ele¢tri¢ 2410 - Church running- gas 2430- Church- printing and copier 2450- Church - miscellaneous 2460- Church- bells expenses 2520- Rooms- miscellaneous 2530 - Rooms - electricity 2540- Rooms- gas 2550- Rooms- insurance 2560 - Rooms- repairs and maintenance 2570- Rooms- telephone 2580- Room5- water 2590- Rooms- cleaning 2601 Independent examiner 2840 - Curatage maintenance and fees Total 3,960 49 350 7,300 119 1,808 74.024 7,280 1.859 1.419 1,339 465 2,118 802 1.486 545 466 938 590 1.383 8.515 1,018 225 315 9.936 449 201 1,141 508 1,450 312 101 233 972 3,395 1,078 2,645 2.147 465 3.960 49 350 7.300 119 1,808 74,024 7.280 1.859 1.419 1.339 465 2.118 802 1,486 545 466 938 590 1,383 8.515 1,018 225 315 9,936 449 201 1,141 508 1,450 312 101 233 972 3,395 1.078 2,645 2.147 465 3.818 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 4,493 333 186 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 3,753 167.968 619 8.097 166 2.562 3.682 590 404 4.966 390 2.580 167.462 619 8.097 166 2,562 3,682 590 404 4,966 390 2,580 167.462 EXPENDITURE TOTAL 168.008 168,008 168.202 GRAND TOTAL 18.411 18.411 245 Page 16
St Peter & St Paul Abington, Northampton Accounting policies Basis of preparation The PCC is a public benefit entity within the meaning of FRS 102. The financial statements have been prepared under the Charities Act ?011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCS, and with the Regulations true and fair view, provisions, tcigether with FRS 102 (2016) as the applicable accounting standards and the 2016 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP (FRS 102)). The financial statements have been prepared under the historic cost convention except for the valuation of investment assets, which are shown at fair value. The financial statements are prepared in sterling, which is the functional currency of the PCC. The principal accounting policies adopted a-e set out below. Going concern The financial statements have been prepare,J on the going concern basis. There are no material uncertainties related to events or conditions that may cast significant doubts upon the PCC'S ability to continue as a going concern. Funds General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application oi the general purposes of the PCC. Funds designated for a particular purpose by the Pi=C are also not restricted. Restricted funds are income funds that muqt be spent on restricted purposes and details of the funds held and restrictions provided are sho'Nn in the notes to the accounts. Endowment funds are restricted funds that fflust be retained as trust capital either pemianently or subject to a discretionary power to spend capital as income. Currently the PCC does not have any restricted or endowment funds. Income Income is recognised when the charity is IallY entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount, in which case any amounts received are held as a liability on the balance sheet. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation. Legacies are recognised on receipt or othernise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. Page17
St Peter & St Paul Abington, Northampton Accounting policies (continued) Income (continued) Rental income is recognised when the rent is due. Where income is received in advance, it is recognised in the year in which the event takes place that it relates to. Dividends from investments are accounted for when due and payable. Interest entitlements are accounted for as they accrue. Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Tangible fixed assets Tangible fixed assets are initially measured ai cost and subsequently measured at cost or valuation, net of depreciation and any impairnent losses. Depreciation is recognised on a straight-line basis so as to write off the cost or valuation of assets less their residual values over their uspful lives on the following bases: Short life assets - hardware 3 years Furniture 5 years Land and buildings (21 Lime Avenue and church rooms) - depreciated down to the estimated residual value of the freehol,J land. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the &set, and is recognised in the statement of financial activities Individual assets with a purchase price less than £1,000 are written off when the asset is acquired. Investments Investments are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The SOFA includes net gains and losses arising on revalijations and disposals throughout the year. Accounts receivable Amounts owing to the PCC at 31 December in respect of gift aid, fees, or other income are shown as debtors less provision for any amoJnts that may prove uncollectable. These are recognised initially at the settlement amount. Accounts payable Creditors are recognised when the PCC has an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estinated reliably. Creditors are recognised at the amount that the PCC anticipates it will pay tc settle the debt. Page 18