St Mark's Woodthorpe Journeying together in Faith Annual Accounts 2024
Financial Review
During 2024 we’ve had a very busy year keeping the Church and Church Hall well maintained so everyone who uses our premises, whether hired or for church activities, can enjoy warmth, cleanliness and comfort. The support of our volunteers, providing physical presence for children’s and vulnerable adult’s activities as well as maintenance skills which reduces having to hire many tradesmen. We are most grateful for the time and talents that are given to St Mark’s.
During 2023 it was agreed that we needed to do something about the windows in the Church and the Church Hall. Quotations were sought in 2024 to replace the old lead framed single-glazed windows in the Hall (main hall) and the Church with UPVC double glazed windows that shut properly and are more vandal proof and will help us save on heating costs. We’ve noticed such a difference in the Church Hall. We started fundraising for the Church windows in 2024. They were finished in February 2025. The congregation have been wonderful in giving financial support for these two big expenditure projects and we are so grateful for their contributions.
At the beginning of 2024 our friends in Burundi had a major food and fuel crisis (lasted all year) and St Mark’s congregation responded financially. Also, we annually have an appeal in October to provide help with a need in Burundi that our Bishop and colleagues in the Anglican Church in Burundi identifies and in 2024 the money sent provided materials for a school in Buterere. Some churches and schools don’t have doors and windows or heat due to adverse weather that has demolished or washed away their buildings. God is good to us and we are blessed to respond in this way to help our brothers and sisters in Burundi.
We have a finance team of 4 volunteers who work tirelessly together to keep our finances up-to-date and in good order and from January 2025 our computer package was switched over to Charities Module which will enable the computer to work out gift aid claims to (hopefully) automatically be sent to HMRC. Other areas we have done manually will produce automatic reports for us, including digital giving. New things for us to learn about but in the long term it should make it easier for us and our successors.
Jackie Carey - Treasurer
Independent Examiner’s Report to the PCC of St Mark’s, Woodthorpe
This report on the financial statements of the PCC for the year ended 31 December 2024, which are set out on the attached pages, is in respect of an examination carried out in accordance with Church Accounting Regulations 2006 (“the Regulations”) and section 145 of the Charities Act 2011.
Respective Responsibilities of members of the PCC
As members of the PCC, you are responsible for maintaining proper accounting records and for preparing the accounts in accordance with the requirements of the Charities Act 2011.
You are also responsible for determining whether, in respect of the year (and the preceding two years), the PCC meets the conditions for exemption from an audit of the accounts set out in section 144(1) of the Act and the Regulations, and for providing me with information and explanations required for my examination.
Responsibilities of the Independent Examiner
My examination was carried out in accordance with the general directions given by the Charity Commission under s.145 of the Charities Act 2011.
That examination included a review of the accounting records kept by the PCC and a comparison of the accounts with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts.
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 giving me cause to believe that in any material respect:
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a. accounting records were not kept in respect of St Mark’s, Woodthorpe as required by section 130 of the Charities Act 2011
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b. the accounts do not accord with those records; or
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c. the accounts do not comply with the applicable requirements concerning the form and content of the accounts 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.
Name: Flona Myers – CGMA Can be contacted via St Mark’s Office Date: 26[th] February 2025
Notes to the Financial Statements
For the year ended 31 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 (FRS102).
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
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 for which they are given. Where such funds are not invested separately, any interest earnt is retained in the general account.
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 claimed on a quarterly basis and recognised when the income resource to which they relate are received. Grants and legacies are accounted for when the PCC is legally entitled to the amounts due. All other income is recognised when it is received.
Resources Expended
Grants and donations are accounted for when paid over, or when awarded, if the 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.298 Charities Act 2011)
Movable church furnishings held by the Vicar and Church Wardens on special trust for the PCC and which require a faculty for disposal are in alienable property. Listed in the church’s inventory, this can be inspected (at any reasonable time). Other assets, such as office equipment, are either deemed to have no residual value, or are written off when purchased their cost being less than £1,000.
There are no investments, other than those shown in the accounts with the Central board of Finance.
ST MARK'S WOODTHORPE
| Current Assets Debtors Bank Acc Petty Cash CBF Interest Acc - Projects CBF Interest Acc - General Investments CBF Equity Investments - UK Equity CBF Investments - Investment CBF Investments - Property Current Liabilities Creditors - Short term Current Assets less Current Liabilities: Total Assets less Current Liabilities: Long Term Liabilities Total Assets less Total Liabilities: Funds General Fund Des. Church Hall Fund Des. Building/Windows Fund Des. CYM,Yth Café, Hol.Club, Refresh Des. Yth & Children Fund (grant) Organ Service/Repair Fund EEB Bank A/c Fund P & L Account Previous Year Adj |
FINANCIAL STATEMENTS PRIOR YEAR COMPARISON 2024 2023 1301 2338 16952 47971 1 1 61871 31871 10142 10142 27249 27249 32647 32647 15451 15451 165614 167670 0 906 0 906 165614 166764 165614 166764 0 0 165614 166764 159456 143383 0 300 0 205 5419 2423 0 7228 773 881 1008 1008 -1130 11335 88 165614 166764 |
|---|---|
SHARES
C of E General Investments (UK Equity Fund) 18,252.1700 units @ £1.9976 per share. Value £36,460.53 @ 31/12/2024 CBF C of E Investment Fund Inc. 2,412.1200 units @ £23.1227 per share. Value £55,774.73 @ 24.12.2024 CBF C of E Property Fund 11,437.0700 units @ £1.2319 per share. Net asset value £14,089.33 @ 31.12.24
St Mark's Church Prior Year Report
| St Mark's Prior Year |
Church Report |
|
|---|---|---|
| 2024 | 2023 | |
| Receipts | ||
| VOLUNTARY RECEIPTS: Planned giving | 91279 | 85326 |
| Collections at Services | 3302 | 4374 |
| Gift Aid recovered | 24660 | 20102 |
| Legacies, Miscellaneous | 2772 | 361 |
| GENERATED:CCLA Investment interest | 6290 | 5039 |
| Easy Fundraising/ink cartridge | 294 | 97 |
| Coffee Bar | 54 | 60 |
| Flowers/Thursday Club | 405 | 160 |
| Church Hire/Mission Events | 5671 | 5139 |
| Church Hall Hire | 25388 | 29022 |
| CYM/Youth Cafe/Hol. Club/Refresh | 5802 | 4643 |
| Funerals/Weddings/Baptism | 1726 | 664 |
| DESIGNATED: Mission/Outreach/Hall | 475 | 684 |
| Reloved | 1790 | 1570 |
| CYM Fund | 98 | 15000 |
| Building/Windows | 10000 | 205 |
| RESTRICTED: Giving/CYM salary/Burundi | 7685 | 3006 |
| 187691 | 175453 | |
| Payments | ||
| CHURCH ACTIVITIES: Charitable Giving | 5903 | 8871 |
| Parish Share | 83309 | 80212 |
| Vicar's discretionary | 150 | 146 |
| Clergy & staff expenses | 2625 | 1272 |
| Travel | 966 | 1639 |
| Training | 479 | 374 |
| Readers | 60 | 57 |
| Audio & Visual equipment | 537 | 269 |
| Office Administration | 1827 | 2445 |
| Publicity/Website/Broadband etc. | 1017 | 903 |
| Flowers | 324 | 293 |
| GENERATED FUNDS:Mission/Outreach | 11 | 137 |
| CYM/Youth Cafe/Hol.Club/Refresh | 6204 | 3971 |
| Coffee Bar | 726 | 511 |
| DESIGNATED: Reloved | 1790 | 1570 |
| RESTRICTED: Burundi | 6419 | 2602 |
| 112346 | 105272 | |
| Overheads | ||
| Salaries, PAYE, Pensions, HMRC | 29400 | 27187 |
| Accounts subscription | 1504 | 1355 |
| Bank Charges | 130 | 4 |
| CHURCH Insurance & Licences | 2781 | 2671 |
| Church Utilities (Gas & Electric) | 5268 | 6550 |
| Church Water, Waste, Repairs | 13230 | 2455 |
| Church Cleaning, Gardening | 6055 | 5102 |
| HALL Insurance & Licences | 1561 | 1681 |
| Hall Utilities (Gas & Electric) | 3422 | 5197 |
| Hall Water, Repairs & Equipment | 8336 | 2322 |
| Hall Cleaning | 4786 | 4320 |
| 76474 | 58845 | |
| Net Profit/(Loss): | -1130 | 11335 |
St Mark's Church Hall PRIOR YEAR REPORT
| 2024 Actual 16722 8716 425 4786 2210 1211 502 7512 323 1561 Net Surplus/(Loss) Repairs and Maintenance (2024) Suspended ceiling tiles after leak 40 Repairs after burst pipe gent's toilet 144 Gents toilet lights 385 Mirror Gents toilet 16 Remove & fit new lever taps 75 Disabled toilet cistern repair 110 New front door keys x5 16 Tune 3 pianos 210 Music cabinet locks 20 Hall heating repair 78 4 fire door closers 57 D/glazed windows: Toilets 688 d/glazed gents toilet & kitchen 543 Large hall d/glazed windows 5130 Equipment Purchases Flourescent tubes 29 Wifi 294 Hall Water Hall Repairs & Maintenance Hall Equipment Purchases Hall Insurance & Licenses Payments Hall Cleaning Hall Electric Hall Gas Receipts Hall Regular Bookings Hall One-Off Bookings Hall Designated |
2024 Actual 16722 8716 425 4786 2210 1211 502 7512 323 1561 Net Surplus/(Loss) Repairs and Maintenance (2024) Suspended ceiling tiles after leak 40 Repairs after burst pipe gent's toilet 144 Gents toilet lights 385 Mirror Gents toilet 16 Remove & fit new lever taps 75 Disabled toilet cistern repair 110 New front door keys x5 16 Tune 3 pianos 210 Music cabinet locks 20 Hall heating repair 78 4 fire door closers 57 D/glazed windows: Toilets 688 d/glazed gents toilet & kitchen 543 Large hall d/glazed windows 5130 Equipment Purchases Flourescent tubes 29 Wifi 294 Hall Water Hall Repairs & Maintenance Hall Equipment Purchases Hall Insurance & Licenses Payments Hall Cleaning Hall Electric Hall Gas Receipts Hall Regular Bookings Hall One-Off Bookings Hall Designated |
2023 Prior Year 23207 5815 300 25863 29322 4320 2688 2509 423 1646 254 1681 18105 13521 7758 15801 7512 323 |
29322 |
|---|---|---|---|
| 13521 | |||
RECEIPTS AND PAYMENTS COMPARISON
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250000
200000
150000
100000
50000
0
RECEIPTS Giving, Gift Aid, Generated PAYMENTS Parish Share Ministry costs Generated Overheads
legacies, Funds Costs
Ministry,
Mission
2017 2018 2019 2020 2021 2022 2023 2024
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BUDGET 6 YEAR FORECAST
| TOTAL RECEIPTS PAYMENTS OVERHEADS Net surplus/(Loss) |
Actual 2024 | 2025Budget approved at Nov.24 PCC |
2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|---|---|
| 187691 112346 76474 |
162937 114388 63316 |
166196 116676 64582 |
169520 119010 65874 |
172910 121390 67191 |
176368 123818 68535 |
179895 125645 69906 |
|
| -1130 | -14767 | -15062 | -15364 | -15671 | -15985 | -15656 |
NOTE:
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1 2024 Fundraising for Burundi - Food Crisis and Burundi Sunday. Total £6419 which includes gift aid sent.
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2 2024 Fundraising for Church windows £10,000. Balance pay in 2025 £3829 and £1200 raised by February.
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3 2025 repair to Audio visual equipment required. Waiting for quotes so not included in figures.