## FINANCIAL STATEMENTS OF 

**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LAVENHAM** 

FOR THE YEAR ENDED 

31 December 2024 

Rector Revd. Cannon Simon Pitcher 

Churchwardens 

David Deacon Paul MacLachlan 



## INDEPENDENT EXAMINER'S REPORT TO THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LAVENHAM 

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 December 2024 as set out on pages 3 to 9. 

## RESPONSIBILITIES 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 section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 

## INDEPENDENT EXAMINER'S STATEMENT 

I have completed my examination.  I confirm that no material matters have come to my attention 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 Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ 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 which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

……………………………………………… 

Vincent Chandler FCA FCCA Independent Examiner 

Dated…………24.03.2025………………………. 

Moore Green Chartered Accountants 22 Friars Street Sudbury Suffolk CO10 2AA 

Page 2 



## **PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LAVENHAM** 

(Registered Charity No. 1131642) 

## STATEMENT OF FINANCIAL ACTIVITIES AS AT 31 DECEMBER 2024 

|INCOMING RESOURCES<br>Incoming resources from donors<br>Other voluntary incoming resources<br>Income resources from operating activities:<br>- to further the Council's activities<br>- to generate funds<br>Income from investments<br>Endowment Funds Transferred<br>TOTAL INCOMING RESOURCES<br>RESOURCES EXPENDED<br>Grants<br>Activities directly relating to the<br>work of the church<br>Fund raising expenses<br>Church management and<br>administration<br>TOTAL RESOURCES EXPENDED<br>NET INCOMING RESOURCES<br>GAINS/LOSSES ON INVESTMENTS<br>NET MOVEMENT OF FUNDS<br>BALANCES BROUGHT FORWARD<br>AT 1ST JANUARY 2024<br>FUND TRANSFER<br>BALANCES CARRIED FORWARD AT 31ST<br>DECEMBER 2024|Notes|Unrestricted<br> & Desig't Fund|Restricted<br> Funds|Endowment<br>Fund|Total<br>2024|_Total_<br>_2023_|
|---|---|---|---|---|---|---|
||2a<br>2b<br>2c<br>2d<br>2e<br>3a<br>3b<br>3c<br>3d<br>5b<br>|90649.54<br>0.00<br>15575.93<br>34622.91<br>0.00<br>140848.38<br>29.98<br>115883.40<br>15780.35<br>4460.54<br>136154.27<br>4694.11<br>0.00|22191.26<br>2449.14<br>0.00<br>5813.27<br>10086.55||112840.80<br>2449.14<br>15575.93<br>40436.18<br>10086.55<br>0.00<br>181388.60<br>29.98<br>131049.21<br>15780.35<br>4460.54<br>151320.08<br>30068.52<br>682.62<br>30751.14<br>270386.90<br>301138.04|_99362.81_<br>_1401.97_<br>_14890.18_<br>_38524.60_<br>_8703.26_<br>_0.00_|
||||40540.22|0.00||_162882.82_|
||||0.00<br>15165.81<br>0.00<br>0.00<br>15165.81<br>25374.41<br>0.00|||_4.47_<br>_135986.80_<br>_14229.76_<br>_8019.80_|
|||||||_158240.83_|
|||||0.00<br>682.62||_4641.99_<br>_2490.81_|
|||4694.11<br>95962.05<br>100656.16|25374.41<br>142556.52<br>167930.93|682.62<br>31,868.33<br>32550.95||_7132.80_<br>_263254.10_<br>_0.00_<br>_270386.90_|



Page 3 



PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LAVENHAM
(Registered Charity No. 1131642)
BALANGE SHEET AS AT 31 DECEMBER 2024
2024
2023
Notes
FIXED ASSETS
Tangible
Investment
22880.32
3010220
30507.11
29419.58
5b
52982.52
59926.69
CURRENT ASSETS
Debtors and prepayments
Short term deposits
Cash at bank and in hand
Shop stock at cost
14905.96
189341.12
54479.85
4003.21
11366.68
180070.66
21320.62
4279.93
262730.14
217037.89
CURRENT LIABILITIES
Creditors - amounls falling due within one year
14574.62
6577.68
NET CURRENT ASSETS I (LIABILITIES)
248155.52
210460.21
TOTAL NET ASSETS
301138.04
270386.90
PARISH FUNDS
Unrestricted
Designated
Reslricted
Endowment
100656.16
95962.05
167930.93
32550.95
142556.52
31868.33
301138.04
270386.90
Approved by the Parochial Church Council on
I I . 2025 and signed on it5 behalf by
Churchwarden :.
Churchwarden....... .
Pa9e 4
The notes on pages 5 to 9 fonn part of Ihese accounts

## **PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LAVENHAM** 

(Registered Charity No 1131642) 

- NOTES TO THE FINANCIAL STATEMENTS for the year ended 31st December 2024 

- 1 ACCOUNTING POLICIES 

The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the Charities SORP issued in October 2019. The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value.   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 main affiliation to another body, nor those that are informal gatherings of church members. 

## FUNDS 

_Endowment Funds_ are funds, the capital of which must be maintained, only income arising from investment of the endowment may be used either as restricted or unrestricted funds depending upon the purpose for which the endowment was established. 

_Restricted Funds_ represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and (b) donations or grants received for a specific object or invited by the PCC for a specific object.   The funds may only be expended on the specific object for which they were given.   Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund.  The PCC does not usually invest separately for each fund.   Where there is no separate investment interest is apportioned to individual funds on an average balance basis. 

_Unrestricted Funds_ are general funds which can be used for PCC ordinary purposes. 

## INCOMING RESOURCES 

Planned giving, collections and donations are recognised when received.   Tax refunds are recognised when the incoming resource to which they relate is received.   Grants and legacies are accounted for when the PCC is legally entitled to the amounts due.   Dividends are accounted for when receivable, interest is accrued.   All other income is recognised when it is receivable.   All incoming resources are accounted for gross. 

## RESOURCES EXPENDED 

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the PCC.   The diocesan parish share is accounted for when due. Amounts received specifically for mission are dealt with as restricted funds.   All other expenditure is generally recognised when it is incurred and is accounted for gross. 

## FIXED ASSETS 

Consecrated and benefice property is not included in the accounts in accordance with s.10(2)(a) and (c) of the Charities Act 2011. 

Movable church furnishings held by the rector and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the church's inventory, which can be inspected (at any reasonable time).   For anything prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements.   Items acquired since 1 January 1995 have been capitalised and depreciated in the accounts over their currently useful economic life. 

Equipment, fixtures and fittings - 25% reducing balance basis 

Individual items of equipment with a purchase price of £1,000 or less are written off when the asset is acquired. 

## LEASES 

To facilitate the building of Lavenham Village Hall on a specified part of the Glebe, two leases were negotiated with the DBF in late 2003/early 2004 

- 1 A full repairing and maintaining lease between the DBF and the PCC for the Glebe for a term of 40 years with effect from 1 June 2004 at a rent of £150 per annum with rent reviews every 5 years. 

- 2 A full repairing and maintaining Underlease between the Lavenham Community Council (through their holding Trustees), the PCC and the DBF for a defined plot on the Glebe (and consent to build the Lavenham Village Hall) for a term of 40 years less 2 days, at a rent of £200 per annum with rent reviews every 5 years. 

Page 5 



1 ACCOUNTING POLICIES OF THE PAROCHIAL CHURCH COUNCIL (continued) 

## **PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LAVENHAM** 

(Registered Charity No. 1131642) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 

## Investments 

Investments are valued at market value 31 December. The SOFA includes the net gains and losses arising on revaluations during the year. 

## Current Assets 

Amounts owing to the PCC at 31 December in respect of fees, rent or other income are shown as debtors less any provision for amounts that may prove un-collectable. Short-term deposits include cash held on deposit either with the CCLA Church of England Funds or at the bank. 

## 2 INCOMING RESOURCES 

|2|INCOMING RESOURCES|||||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|_Total_|
|||& Desig't Fund|Funds|2024|_2023_|
|2a|Incoming resources from donors|||||
||Planned giving|27094.62||27094.62|_22878.21_|
||Collections and other giving|7283.89||7283.89|_7399.92_|
||Tax recoverable|9879.55|2538.38|12417.93|_12862.07_|
||Sundry donations|27679.11|19652.88|47331.99|_48131.21_|
||Legacies|18712.37||18712.37|_8091.40_|
|||90649.54|22191.26|112840.80|_99362.81_|
|2b|Other voluntary incoming resources|||||
||Bell Fund||683.00|683.00|_816.00_|
||Music & Choir Fund||128.64|128.64|_585.97_|
||Lady Chapel Chairs||1637.50|1637.50||
|||0.00|2449.14|2449.14|_1401.97_|
|2c|Income from operating activities to further the work of the church|||||
||Sale of magazines|4276.43||4276.43|_3643.18_|
||Fees|11299.50||11299.50|_11247.00_|
|||15575.93|0.00|15575.93|_14890.18_|
|2d|Income from operating activities to generate funds|||||
||Magazine advertisement fees|8303.20||8303.20|_8351.20_|
||Rent|814.20||814.20|_1038.59_|
||Fund raising|3056.19||3056.19|_4071.83_|
||Second-hand books|8790.43|5813.27|14603.70|_13596.05_|
||Shop sales|13658.89||13658.89|_11466.93_|
|||34622.91|5813.27|40436.18|_38524.60_|
|2e|Income from investments|||||
||Dividends||816.09|816.09|_802.41_|
||Bank interest||9270.46|9270.46|_7900.85_|
|||0.00|10086.55|10086.55|_8703.26_|
|TOTAL INCOMING RESOURCES||140848.38|40540.22|181388.60|_162882.82_|



Included in Incoming Resources are donations from PCC members and their spouses of £9,440. 

Page 6 



## **PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LAVENHAM** 

## NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 

|Unrestricted<br>Restricted<br>Total<br>_Total_<br>& Desig't Fund<br>Funds<br>2024<br>_2023_<br>3.00<br>RESOURCES USED<br>3a<br>Grants to further the work of the church<br>Overseas mission - Kagera<br>0.00<br>0.00<br>_0.00_<br>Secular charities<br>29.98<br>29.98<br>_4.47_<br>Salvation Army<br>0.00<br>0.00<br>_0.00_<br>29.98<br>0.00<br>29.98<br>_4.47_<br>3b<br>Activities directly relating to the work of the church<br>Diocesan parish share<br>68433.00<br>68433.00<br>_66315.00_<br>Church expenses<br>19364.42<br>5813.27<br>25177.69<br>_28180.31_<br>Clergy expenses<br>1852.75<br>1852.75<br>_1891.25_<br>Cost of services<br>1778.24<br>1778.24<br>_2048.08_<br>Upkeep of churchyard/Glebe<br>885.55<br>885.55<br>_109.98_<br>Church maintenance<br>1371.82<br>1371.82<br>_6335.85_<br>Major works / Quinquennial<br>0.00<br>6097.53<br>6097.53<br>_3195.62_<br>Wages<br>12510.84<br>12510.84<br>_11584.86_<br>Depreciation<br>7626.78<br>7626.78<br>_10169.03_<br>Organ/Music/Choir<br>940.00<br>709.03<br>1649.03<br>_3370.41_<br>Bellropes / Flower / Nave Fund<br>1120.00<br>0.00<br>1120.00<br>_780.00_<br>Biddell Coal<br>0.00<br>_50.00_<br>Family & Childrens Fund / Lady Chapel Chairs<br>2545.98<br>2545.98<br>_1956.41_<br>115883.40<br>15165.81<br>131049.21 _135986.80_<br>3c<br>Shop Purchases<br>6882.16<br>6882.16<br>_5430.98_<br>Opening shop stock at cost<br>4279.93<br>4279.93<br>_6206.96_<br>Less closing shop stock at cost<br>-4003.21<br>-4003.21<br>_-4279.93_<br>Magazine printing costs<br>8258.69<br>8258.69<br>_6817.75_<br>Fund Raising Expenses<br>362.78<br>362.78<br>_0.00_<br>Online Giving Fees<br>0.00<br>0.00<br>_54.00_<br>15780.35<br>0.00<br>15780.35<br>_14229.76_<br>3d<br>Church management and administration<br>Telephone, Internet & Card Terminal costs<br>1083.94<br>1083.94<br>_1170.43_<br>Office expenses<br>2336.60<br>2336.60<br>_2569.37_<br>Legal & Professional Fees<br>0.00<br>0.00<br>_3000.00_<br>Audit and Accountancy<br>1040.00<br>1040.00<br>_1280.00_<br>4460.54<br>4460.54<br>_8019.80_<br>TOTAL RESOURCES USED<br>136154.27<br>15165.81<br>151320.08 _158240.83_<br>4a<br>STAFF COST<br>Total<br>_Total_<br>2024<br>_2023_<br>.<br>Wages and salaries<br>3953.48<br>_3555.80_<br>Self employed Organists<br>8557.36<br>_8029.06_<br>12510.84<br>_11584.86_|Unrestricted<br>Restricted<br>Total<br>_Total_<br>& Desig't Fund<br>Funds<br>2024<br>_2023_|Unrestricted<br>Restricted<br>Total<br>_Total_<br>& Desig't Fund<br>Funds<br>2024<br>_2023_|
|---|---|---|
||0.00<br>0.00<br>_0.00_<br>29.98<br>29.98<br>_4.47_<br>0.00<br>0.00<br>_0.00_||
||29.98<br>0.00<br>29.98<br>_4.47_||
||115883.40<br>15165.81<br>131049.21 _135986.80_||
||6882.16<br>6882.16<br>_5430.98_<br>4279.93<br>4279.93<br>_6206.96_<br>-4003.21<br>-4003.21<br>_-4279.93_<br>8258.69<br>8258.69<br>_6817.75_<br>362.78<br>362.78<br>_0.00_<br>0.00<br>0.00<br>_54.00_||
||15780.35<br>0.00<br>15780.35<br>_14229.76_||
||1083.94<br>1083.94<br>_1170.43_<br>2336.60<br>2336.60<br>_2569.37_<br>0.00<br>0.00<br>_3000.00_<br>1040.00<br>1040.00<br>_1280.00_||
||4460.54<br>4460.54<br>_8019.80_||
||136154.27<br>15165.81<br>151320.08 _158240.83_||
|||Total<br>_Total_<br>2024<br>_2023_|
|||.<br>3953.48<br>_3555.80_<br>8557.36<br>_8029.06_|
|||12510.84<br>_11584.86_|



During the year the PCC employed a cleaner and verger (part-time) who were not paid an amount large enough to attract social security costs. 

Page 7 



## **PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LAVENHAM** 

## NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 

## 4b PAYMENTS TO PCC MEMBERS 

The choir and bell ringers, some of whom may be members of the PCC, received token payments for weddings/funerals at which they performed. Our Director of Music is a member of the PCC and received £8,557.36 in payments during the year. 

|5a<br>FIXED ASSETS<br>Tangible fixed assets<br>**Cost**<br>As at 1.1.24<br>Additions during the year at cost<br>Disposal<br>As at 31.12.24<br>**Depreciation**<br>As at 1.1.24<br>Charge for the year<br>As at 31.12.24<br>**Net book value at 31.12.24**<br>Net book value at 31.12.23<br>5b<br>INVESTMENTS<br>Quoted<br>CBF Investment Fund<br>CBF Fixed Interest Securities Fund<br>Market value at 31.12.24<br>6 DEBTORS<br>Gift Aid tax and VAT recoverable<br>Other Debtors|Equipment<br>fixtures<br>Total<br>& fittings<br>2024<br>67715.39<br>67715.39<br>0.00<br>0.00<br>0.00<br>0.00<br>67715.39<br>67715.39<br>37208.29<br>37208.29<br>7626.78<br>7626.78<br>44835.07<br>44835.07<br>22880.32<br>22880.32<br>_30507.11_<br>_30507.11_<br>Total<br>_Total_<br>2024<br>_2023_<br>29782.03<br>_29115.62_<br>320.17<br>_303.96_<br>30102.20<br>_29419.58_<br>Total<br>_Total_<br>2024<br>_2023_<br>8976.84<br>_7877.59_<br>5929.12<br>_3489.09_<br>14905.96<br>_11366.68_|Equipment<br>fixtures<br>Total<br>& fittings<br>2024<br>67715.39<br>67715.39<br>0.00<br>0.00<br>0.00<br>0.00<br>67715.39<br>67715.39<br>37208.29<br>37208.29<br>7626.78<br>7626.78<br>44835.07<br>44835.07<br>22880.32<br>22880.32<br>_30507.11_<br>_30507.11_<br>Total<br>_Total_<br>2024<br>_2023_<br>29782.03<br>_29115.62_<br>320.17<br>_303.96_<br>30102.20<br>_29419.58_<br>Total<br>_Total_<br>2024<br>_2023_<br>8976.84<br>_7877.59_<br>5929.12<br>_3489.09_<br>14905.96<br>_11366.68_|Total<br>2024|
|---|---|---|---|
||||67715.39<br>0.00<br>0.00|
||||67715.39|
||||37208.29<br>7626.78|
||||44835.07|
||||22880.32|
||_30507.11_||_30507.11_|
|||||
|||29782.03<br>_29115.62_<br>320.17<br>_303.96_||
|||30102.20<br>_29419.58_||
|||Total<br>_Total_<br>2024<br>_2023_||
|||8976.84<br>_7877.59_<br>5929.12<br>_3489.09_||
|||14905.96<br>_11366.68_||



Page 8 



## **PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LAVENHAM** 

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 

- 7 LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR 

|||
|---|---|
|LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR<br>Creditors for goods and services<br>Other creditors and accruals|Total<br>_Total_<br>2024<br>_2023_|
||11256.47<br>_3430.00_<br>3318.15<br>_3147.68_|
||14574.62<br>_6577.68_|



- 8 ANALYSIS OF NET ASSETS BY FUND 

|Unrestricted|Unrestricted|Restricted|Designated|Endowment|Total|_Total_|
|---|---|---|---|---|---|---|
||Fund|Fund|Fund|Fund|2024|_2023_|
|Tangible fixed assets|22880.32||||22880.32|_30507.11_|
|Investment  assets||||30102.20|30102.20|_29419.58_|
|Current assets|11134.64|7769.28||5.25|18909.17|_15646.61_|
|Cash|81215.82|160161.65||2443.50|243820.97|_201391.28_|
|Current liabilities|-14574.62|0.00|||-14574.62|_-6577.68_|
||100656.16|167930.93|0.00|32550.95|301138.04|_270386.90_|



## 9 ENDOWMENT FUND DETAILS 

The restricted funds comprise the Fabric Fund which includes income of permanent endowments (as below) of Helen Muriel Duvall bequest for the upkeep and maintenance of the fabric of the church; the Merelina Spring Stanley trust for the upkeep of the fabric including the steeple of the church and the monuments therein or connected therewith. and Biddell Memorial Fund for the  upkeep of the churchyard 

Biddell Trust (Coal Charity) half for church repairs and half for coal for the poor and Francis Spring Bequest for the upkeep of the church tower and roofs. 

|Spring Stanley Trust<br>Duvall Bequest<br>Biddell Memorial Fund<br>Biddell Coal Charity<br>Francis Spring Bequest|Income<br>63.70<br>603.03<br>149.36<br>816.09|Investment<br>Cash<br>Total|
|---|---|---|
|||2,378.09<br>2378.09<br>22,220.91<br>22220.91<br>5,503.20<br>227.39<br>5730.59<br>396.26<br>396.26<br>1825.10<br>1825.10|
|||30102.20<br>2448.75<br>32550.95|



The movement on the restricted funds during the year is as follows 

|Fabric Fund<br>Music/Choir Fund<br>Bell Fund<br>Quinquennial<br>Childrens Co-Op Fund|Opening<br>Incoming<br>Resources<br>Unrestricted Closing<br>Balance<br>Resources<br>Expended<br>Transfer<br>Balance|
|---|---|
||135444.40<br>30291.08<br>9737.77<br>155997.71<br>3251.48<br>128.64<br>709.03<br>2671.09<br>2075.89<br>683.00<br>0.00<br>2758.89<br>0.00<br>7250.00<br>2173.03<br>5076.97<br>1784.75<br>550.00<br>908.48<br>1426.27|
||142556.52<br>38902.72<br>13528.31<br>0.00<br>167930.93|



Page 9