Charity registration nuinber.. 1131863 South Cave Church known as The Parochial Church Council of the Ecclesiastical Council of All Saints Church South Cave Annual Report and Financial Statements for the Year Ended 31 December 2024 South Cave Church known as The Parochial Church Council of the Ecclesiastical Council of All Saints Church South Cave Contents (continued) Reference and Adininistrative Details 2to7 Key Facts 8t0 10 Trustee5' Report Statement of Trustees, Responsibilities 12 Independent Exaininer's Report 13 to 14 Statement of Financia5 Activities 15 Balance Sheet 16to30 Notes to the Financial Statements South Cave Church known as The Parochial Church Council of the Ecclesiastical Council of All Saints Church South Cave Reference and Administrative Details Chairman Reverend Andrew Moreland Trustees Mrs Sharon Vodden Reverend Peter Draper Mrs Helen Syson Mrs Joan Selby Mr Neil Sanderson Mr5 Tara Filby Mrs Jacqueline Bateman Mrs Ceri Harris Mr John Caley Mrs Elizabeth Caley Mr Bruce Matthew Mrs Sarah Wilson Mrs Cindy Hider Mrs Jennifer Gibson Mrs Carol Broughton Mr Alan Duckworth Mr Christopher Nelson 1131863 Other Officers Charity Registration Number Principal Office clo Mrs C Broughton 6 High Road Everthorpe BROUGH East Yorkshire HU15 2AP Cameron, Fe￿IbY & Co Cameron, Ferriby & Co, Chartered Accountants Bridge House 41 Wincolmlee Hull HU2 8AG Independent Examiner Page I South Cave Churcb known as The Parochial Cburch Council of the Ecclesiastical Council of All Saints Church South Cave Key Facts Vicar's Report for the 2024 ACPM As we reflect on 2024, we can see we had our lair share of challenges and sadnesses and yet a lot to be grateful to the Lord for. Our sadnesses have been varied, from dealing with the loss of incredibly loved meinbers of our church family to managing structural issues with our church buildings and seeing our youth group, Ignite, come to an end, albeit a natural one. Let's thank God for those who are now enjoying heaven with Jesus. let's pray for our young people who have moved on to bigger things. let's keep looking to the Lord for our buildings a5 we can be sure he has an incredible plan for thein and us in his mission to South Cave. We also have a lot to be grateful for, so much it is di(ficult to know where to start. First, I need to Say how orateful Elizabeth and myself have been as you have welcomed us into the church family. We have really felt your wamith and love. It is such a joy to see what you achieved together during the vacancy and to explore together the many opportunities for tsrowth in the future. A big thank you goes to rny Ininistry team, churchwardens and Liz in the office. who have made my transition sinooth. Their continuing passion to serve Christ in the benefice is an in5piratioTh and cherished by all of us. We have also been blessed with a Curatel Revd Shelly Jones has joined the ministry team. Her vivacious personality and abilities have already been appreciated throughout our benefice as she continue5 her training with us. Home group5 are foundational for personal spiritual growth and mutual care. At least 600/0 of our mernbers belong to a group and testify to the love, hospitality and Bible L)nderstanding they receive. Thank you to all who open their homes and lacilitate these valuable groups. Our links with fainilies continue to flourish through Bubble Church. It is great to see families at other Sunday services and we have had 3 Bubble Church baptisins. Karen'5 work with Jolly Tols also continues to grow. Our social events are a buzz of activity and friendship. Our Sunday lunches. monthly coffee mornings and fortnightly 'Pop In, cuppa and chat have seen so many people from the cominunity and beyond and they continue to be a draw for and pastoral care. Thank you to all those who put in so much effort to make these events such a success. The All-saints Community Centre (ASCC) is often a hive of activity as it is used by a variety of groups throughout the week. Our connection with South Cave School has strengthened. I reLTrularly go into school to take Collective Worship and the school often visits the church to experience worship in our lovely buildiDg. A team goes into school and delivers workshops, sharing the Christian faith in a relevant way. l am also one of four foundation govemors of the school. We have put in stage 2 of the new sound systein in church and the re-organisation of sound equiprnent and addition ot- noise dampenei's in thc ASCC was completed in January. We have Inanaged to complete the temporary repairs lo the tower - no mean featl We are developing a hopeful and ambitious strategy to address the poor condition of the church building. We hosted and supported Coinmunity events: D-Day Remeinbrance in June and Drewton's harvest concert and auction in October. Page 2 South Cave Church known as The Parochial Chureh Council of the Ecclesiastical Council of All Saints Church South Cave Key Facts (continued) Vicar's Report for the 2024 ACPM continued In all this, the regular work and worship of our busy church continues. The variety of service5 we offer is one of our strengths and the feedback I hear is that worshippers are challenged, nourished and refreshed by our worship and teaching. In our pick 'n' mix society, l am so encouraged by those who prioritise meeting together every week, even when the style of worship is not their first choice. In cornrnon with other Anglican chur¢he5, the Occasional Offices are fewer than they used to be with five baptisms two weddings and eight ￿neralS last year, but these services provide our biggest opportunities to share the love and truth of Jesus with dozens of people at a liine who do not nonnally attend church. Please pray that the light of Christ will be received into the hearts and lives of these dear people We have also tried new thing5= In October we held a very well-received Praise and Worship eventng and these have now become regular quarterly opportunities lo press in in worship and engage with God in a deep and rich way. We held two Prayer Breakfasts in 2024 and, in early 2025. ran the Hope Explored course where a group which included some who have not yet corne to faith discussed what Jesus has done and the hope, peace and purpose that can be ours because of Him. We are now looking to help St. Mary's aging and dwindling (but still keen!) congregation reach out to Brooinfleet with the gospel. Revd Shelly will lead a te￿￿ made up volunteers from our 3 churches to make this possible. Is the Lord calling YOU to join her?9 We have good folwdations on which to build and grow. We are presently praying through the possibilities and seeking the Lord's heart and his leadtng. It 15 only the house built by God that will stand - where does He want us to deploy our talents and energies? There are exciting and challenging times aheadl God has proven his reliability and generosity 10 US time and time aoain. God meet5 us when we act in faith and obedience, so let's seek amazing things froin God and ask him to use us to bring His kingdom to those we meet. Without doubt, God is good! All the time, God is good! Rev. Andrew Moreland Page 3 South Cave Church known as The Parochial Church Council of the Ecclesiastical Council of All Saints Church South Cave Key Facts (eontinued) Churchwardens Report 2024 The year has been a busy one to say the le&st. We welcomed our new incumbent Reverend Andrew Moreland and his wife Elizabeth in March 2024, following his recovery froin major heart surtsery. They are now well settled in the Parish and getting to know all of us very quickly. At the APCM in April our long serving Churchwarden Mary Binns retired after 13 years loyal, hardworking service. We all thank her for her hard work, and wish her well for the luture. Christopher Ne150n was elected into the role to replace Mary and I look forward to a successful, workino partnership with him. We had an upgrade of the Audio-visual system in the Church. TV monitor Screens have replaced the old projector screens. We have two video Cameras fitted. Wi-Fi wa5 connected in the church, and we now have an excellent display systein to be utilised for services. We a150 have the facility to live stream from the services if required. There was an update of the speakers in the ASCC and the amplifier. This along with the fitting of sound absorbing pads has increased the sound quality in the centre and inade il much more user friendly. The projector screens were repositioned and a new projector fitted sluno from the ceiling. Regiilar maintenance of the gas boilers and heating systems in the church and ASCC was done. The fire extinguishers and einergency lighting were tested. A bad crack was observed in the tower and throughout the year various tests and surveys were carried out by structural engineers and our Architect. The tower needed iinmediate attention to strengthen it and repair the decayino masonry. To facilitate thi5 work, we had to have a bat survey done and a report on the bell structure within the tower. We also had a Bee colony with its hive behind the clock face. In October scaffolding was erected around the tower work ¢ommenced, the removal of approximately 30,000 bees being the first priority- Masonry work and the Sealing of the tower roof continued until the end of the year. It must be stressed that this work on the tower will only make it safe for approximately 5 years and during this time further plans must be made to determine how we proceed into the future of the church building. A lot of hard work and money will be paramount. Thankfully the church fainily membership continues to thrive and we have encouraging numbers in the congregation at all our Services. We must thank everyone who supports us in all their many capacities helping us to enjoy the friendship and fellowship of All Saints, South Cave. Alan Duckworth Churchwarden Page 4 South Cave Church known as The Parochial Church Council of the Ecclesiastical Council of All Saints Church South Cave Key Facts (continued) Methodists at South Cave 2024 There are 13 Methodist meinbers at All Saints. Methodist members are a small, but important part of our congregation, who are active in inany aspects of our church life Revd. Christine Sutherby is the minister attached to South Cave, but due to a long period of illness, her work has been covered by Revd. Andrew Nknon. He has led several services, including the January covenant Services, and at limes has made good use of our sound and video systems. Hiibs are established acr055 the circuit, which meaTts some churches worship together either in person or via Zoom, from time to tiine. So far this hasn't impacted on our worship at South Cave, but it is hoped that we will be able to host a hub service at some tiine in the not too distant future. Methodist and Anglicans hosted the World Day of Prayer in March, when together with other Christians froim the local area, we joined women from around the world, praying for Palestine. This was a great example of ecumenism at work! We thank God for continuing to tnspire and lead us in our church life as Methodists and Anglican5 together. Sarah Wi150n Methodist Steward Treasurers Report 2024 The Church income for 2024 was £122,8?4 against £130,259 in 2023. Which is slightly down on the previous year. The expenses were £168.854 against £100,913 in 2023. The increase in the expenses were Inainly due to repairs to the Church Tower and roof. This gave us a loss of £46,OJO which was covered by the reserves from previous years. Although we made a loss the lettings for the hall were up on the previou5 year along with the interest on our savings. The cost of the gas and Electric for the Church and the hall were down on the previous year. I would like lo thank Carol-Ann Holmes for doing the book keeping. payroll and Gift Aid and Liz Sanderson for her contribution to the accounting side. I would also like to thank the congregation for your continued support during 2024. Carol Broughton Treasurer Page 5 South Cave Church knojvn as The Parochial Church Council of the Ecclesiastical Council of All Saints Church South Cave Key Facts (continued) Children and Youth Work Children and Youth Work We have seen God at work in our children and family work in 2024, enjoying deeper relationships and a sense of community. Bubble Church after launching in Deceinber 2023, we had 12 Inonthly services in 2024 and a Summer Social. Typically, between 9 and I I fainilies attend the service. God's guidintr hand has been evident as we have worked to build coinmunity. We found that by having toys and drinks out after the service, fainilies will stay for a while and chal to the teain and to each other. It has been lovely to see friendships blossom. We have also started a Whatsapp group to keep in touch between services, 10 fainilies have joined the group. Through this we have been able to drop gentle prayers in for children that have been ill, for family time during the School holidays and so on. Toward5 the end of the year, it became apparent that we need to move the monthly service date to the 4th Sunday for a number of reasons and we plan to do that from January 2025. As well as the Inonthly services, we have enjoyed delivering as5einblies once each terni at South Cave Primary School. and a taster session at Jolly Tots. As we move into 2025 we al-e praying for God's guidance and inspiration in developing a resource for children as they grow too old for Bubble Church. Baptism fainily Light Celebration our baptisrn family link, Jo Maroinson. arranged a Light Celebration in November for families who have had their children baplised. It was a very special afternoon with fun crafts, a treasure hunt, snacks and a visit from the Bubble Church puppets. Jolly Tot's led by our Family Worker. Karen Clark, has continued to provide a gentle space for familie5 Wlth pre-school children to connect. September saw several of the children progress to School or start nursery and so for a time, the group was small. This was not a bad thing as it allowed tiine ¢0 enoage well with the grown-ups and build a core group of families who know the procedures and the ethos of the group, so that when we had an influx of new families, they come into a solid group and are taken under the wings of other families. The group is low key, with sessions ending with singing time and a prayer. Signposting is offered where support is needed. Ignite - following prayerful consideration, Matt and Jen Gibson made the decision to step down from running Ignite after the 2024 summer tem. They set out the detail behind the decision below. "We currently have 12 young people on our books. Five are on the cusp of turning 18. Two have chosen to no longer attend (one has a clash with boxing trainints and the other is now settled in the youth at vineyard church where they now worship). Of the five remaining under 18 two are my own children and two now have a clash with football training. We have reached out to those who have started year 7 this year to join us, but they have decided not to. After serving this and previous groups of young people for over 9 years. we have decided that now 15 the tiine for us to step down - it feels like a natural tiine as Inost of the group are becoming adult5 and the feed has dried up. We are both also Iravelling more with work and juggling our own teenagers lives." Page 6 South Cave Church known as The Parochial Church Council of the Ecclesiastical Council of All Saints Church South Cave Key Facts (continued) Children and Youth Work continued South Cave Primary School We are grateful for the strong connections that we have with the school. Thank5 go to all who have led collective worship and lo our foundation govenors. Particular thanks go to Karen Clark for all of the work she does with the children. In the last academic year, Karen has developed the collective worship in church in a series called "Jesus said., From Septeinber, the new theme was the way "God uses children" and the value God puts on them, delivered by Karen and Rev Andrew. The very popular Christingle workshops were carried out in school followed by a service in Church. Work has also been done with the "Worship Squad" to offer training in collective worship. It was lovely to See the children deliver the Collective worship a few week5 later. They were ainazing and had clearly taken il all in. The school's Global Neighbours project {Christian aid} ha5 involved partnership with the church as Andrew. Ceri and Karen have been on the team supporting and developing the project. This will continue into ?025. Sharon Vodden Page 7 South Cave Church known as The Parochial Church Council of the Ecelesiastical Council of All Saints Church South Cave Trusteesl Report The trustees present the annual report together with the financial stateillents of the charity for the year ended 31 December 2024. Objectives and aetivities Objecls and dims The church in South Cave is a partnership between Anglican and Methodists churches. This is a relationship for which we are all profoundly grateful and in which we all rejoice. The accounts here represent the working of that partnership and are subinitted in this fomiat to comply with legal requireinents. OUR PURPOSE To live our lives in the worship of God and serve His migsion in the world. OUR VISION To be a welcoming, caring, celebrating, worhsipping, proclaiming and growing Christian presence in the village and to the world. AS A CHRISTIAN COMMUNITY tN SOUTH CAVE OR MISSION l.To GROW together in deepening fellowship of love and trust with one another and with our heavenly Father. 2.To GROW to be like Jesus in our knowledge and love of God. 3.To GROW in numbers of regular worshippers. 4.To GROW in prayerful and practical links with other Christians locally and worldwide. 5.To Inaintain a WELCOMING relaxed atn105phere for learning, worship and fellowship and where those not yet ready for cominittement can be free to explore their faith. 6.To leam to know God in WORSHIP so that we enjoy Him and are strengthened to love and serve Hiin as our Lord. 7.To CELEBRATE the truth of the Gospel and the redeeming power and presence of God in the whole of life. 8.To PROCLAIM the good news we have, encouraging other5 to join us as floowers of Jesus. 9.To show the love of Jesus in practice as we CARE for one another and for others in need. Objeclives, Strategies aiid llclivilies CHURCH ATTENDANCE The Electoral Roll is the Parish Church's Register of electors. Those who are on the roll are entitled to vote at the Annual Meeting. There were 89 people on the role at 31 December 2024. The Methodist Meinbership Roll is the register of members of South Cave Methodist Church. There were 13 on this roll as at 31 December 2024. David Bowes Page 8 South Cave Church known as The Parochial Church Council of the Ecclesiastical Council of All Saints Church South Cave Trustees, Report (continued) Public beiiefit The PCC of All Saints is a body Corporate. The PCC of All Saints is registered with the Charities Commission under its full name of The Parochial Church Council of the Ecclesiastical Council of All Saints, South Cave. Its charity number is 1131863. The coinposition procedures of the PCC is regulated by the Church Representation Rule5 as contained in schedule 3 of the Synodical Govennent Measure 1969 (as amended). The functions and powers of the PCC are contained in the Parochial Church (Power5) Measures 1956, as amended by the 1969 Measure, which states the PCC is to co-operate with the miniter, promoting in the parish the whole mission of the church, pastoral. evengelistic, social and ecumenical. The Iruslees confinn that they have ¢oinplied with the requireinenls of section 17 of the Charities Act 201 I to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Structure, governance and man2geTnent Recruitmenl und appoiiilnieiik of Iriislees Elections of approxiinately one third of the Inembers of the PCC are held annually; all member5 of the electoral roll are entitled to vote and sland for election. There is also provision for the co-option of members to the PCC. and the incumbent is an ex-offico Ine1￿ber and the chairpeFSOn. Orgaiiisulional structure The PCC is responible for.. l. The f￿ancial management of the Church. 2. The care and maintainence of the church fabric. 3. The care and Inaintainence of the churchyard. 4. The care and Inaintainence of the family centre. In order to discharge these responibilities, under the Parochial Chnich (Powers) Measure 1956. powers have been conferredon the PCC to.. l. Acquire manage and adininister property for ecclesiatical purposes affecting the parish. 2. Formulate and approve an annual budget for the Inaintainence of the church's work. 3. Levey and collect a voluntary church rate.#Make representations to the bishop with regard to general matters affecting the welfare of Ihe parish. The PCC has regular meetings throughout the year, delegating some matters to the standing comrnittee and using sub-committees to organise other matters. Page 9 South Cave Church knojvn as The Parochial Church Council of the Ecclesiastical Council of All Saints Church South Cave Trustees, Report (continued) Financial instruments Objeclive5 niidpoliLies The charity's activities expose il to a nuinber of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity's policies approved by the board ot. trustees. which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for Speculative purposes. Credil risk The charity's principal financial assets are bank balance5 and cash, trade and other receivables, and investments. The charity's credit risk is priinarily attributable to its trade receivables. The amounts presented in the balance sheet are nel of allowances for doubtful receivables. An allowance for impainnent 15 made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruinents is limited because the ¢ounterparties are banks with high credit-rating5 assigned by tntemational credit-rating agencies. The charity ha5 no significant concentration of credit risk, with exposure spread over a large nuinber of counterparties and cu5toiners. Liquidity risk In order to Inaintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity use5 a mixture of long-term and short-tenn debt finance. Further details regarding liquidity risk can be found in the Stateinent of accounting policies in the financial statements. The annual report was approved by the trustees of the charity on . .IC.. and si.(med on its behalf by: Reverend Andrew Moreland Chainnan Page 10 South Cave Church known as The Parochial Church Council of the Ecclesiastical Council of All Saints Chureh South Cave Statement of Trustees, Responsibilities The trustees are responsible for preparing the trustees, report and the financial statements in accordance with the United Kingdoin Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice) and applicable law and regulation5. The law applicable to charitie5 requires the trustees to prepare financial stateinents for each financial year which give a true and fair view of the state of affairs of the charity and of the incominu resources and application of resources of the charity for that period. In preparing these financial staleinents, the Iru5tees are required to.. select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP,. IMake judgements and estimates that are reasonable and prudent,. state whether applicable accounting standards have been lollowed, subject to any material departures disclosed and explained in the financial statements. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any tiine the financial position of the charity and enable Iheill to ensure that the financial stateinents comply with the Charities Act 201 I, the Charities (Accounts and Reports) Reoulalions 2008, and the provisions of the constitution. The trustee5 are also responsible for 5afeguardints the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the ¢haritable company's website. Legislation governing the preparation and dissemination of financial slateinents may differ froin legislation in other jurisdictions. Approved by the trustees of the charity on . and signed on its behalf by.. Reverend Andrew Moreland Chairman Page 11 South Cave Church known as The Parochial Church Council of the Ecclesiastical Council of All Saints Church South Cave Independent Examiner's Report to the trustees of South Cave Church I report to the trustees on my examination of the accounts of South Cave Church for the year ended 31 December 2024. Responsibilitie5 8nd basis of reporl As the charity irustee5 of South Cave Church you are responsible for the preparation of the accounts in accordance with the requireinents of the Charities Act 20 51 {'the Act,). I report in respect of my examination of the South Cave Chur¢h'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 Coin]nission under section 145(5)(b) of the Act. Independent examiner's Statement I have Colmpleted my examination. S confinn that no material matters have come to tny attention in connection with the exainination giving me cause to believe that in any material respect: accounting records were not kept in respect of South Cave Church as required by section 130 of the Act. or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements concerning the forn) 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 Inatter considered as part of an independent exainination. I have no concems and have come across no other matters in cormection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the account5 to be reached. Mr Roger Caineron Cameron, Ferriby & Co, Chartered Accountants ICAEW Bridge House 41 Wincolmlee Hull HU2 8AG Date.. Page 12 South Cave Church known as The Parochial Church Council of the Ecclesiastical Council of All Saints Church South Cave Statement of Financial Activities for the Year Ended 31 December 2024 Unrestricted funds Restricted funds Total 2024 Note Income and Endowment5 from: Donations and legacies Other trading activities Investment income Other income 69,116 32,087 6,933 13,800 69,116 32,087 7,821 13,800 20 888 Total income 121.936 888 Expenditure on: Raising funds Charitable activities Other expenditure 122.824 (2,858) {74,999) (90,356) (2,858) (74,999) {90,997) (168,854) (641) Total expenditure Net {expenditure)/incoiTte Other recognised gains and losses Other gain511osses Net Inovement in funds (168,213) (641) (46,277) 247 (46,030) 1,519 1,519 (46,277) 1.766 Reconciliation of funds (44.511) Total funds brought forward Total funds carried forward 52,475 145,747 198,222 17 6,198 147,513 153,711 The notes on page5 16 to 30 forni an integral part of these fmancial statements. Page 13 South Cave Church known as The Parochial Church Council of the Ecclesiastical Council of All Saints Church South Cave Statement of Financial Activities for the Year Ended 31 December 2024 (continued) Total 2023 Unrestricted funds Restricted funds Lyote Income and Endowments from: Donations and legacies Other trading activities Inve5tinent income Other income 90.987 20,552 4.746 13,099 90,987 20.552 5,621 13.099 20 875 875 130,259 Total income 129,3 84 Expenditure on: Raising funds Charitable activities Other expenditure Total expenditure Net income (1,600) (74,205) (26,066) (1,600) (74,205) {?5,313) (753) (101,118) (753} {101,871) 28,266 122 28,388 Oth¢r recognised gains and losses Other gainsllosses Net movement in funds Reconciliation of funds Total funds brought forward Total fund5 carried fonlfard 4,239 4,239 28,266 4,361 32.627 165,595 24,209 141,386 17 52,475 145,747 198,222 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 17. The notes on pages 16 to 30 fonn an integral part of these financial statements. Page 14 South Cave Church known as The Parochial Church Council of the Ecclesiastieal Council of All Saints Church South Cave (Registration number: 1131863) Balance Sheet as at 31 December 2024 2024 2023 Nole Fixed assets Tangible assets Inve5tinents 12 13 39,814 59,573 8,108 58,054 99,387 66,162 Current assets Debtors Cash at bank and in hand 14 15 1,471 100,146 10,226 123,586 111,617 133,812 Creditors". Amounts falling due within one year Net current assets 16 (57,293) {1,752) 54,324 132,060 Net assets 153,711 198,222 Funds of the charity: Restricted income funds Restricted fvnds 147,513 145,747 Unrestricted ineome funds Unrestricted funds 6,198 52,475 Total funds 17 153,711 198,222 The financial statements on pages 13 to 30 were approved by the trustees, and authorised for issue on and signed on their behalf by= Reverend Andrew Moreland Chairman The notes on pages 16 to 30 forni an integral part of these financial statements. Page 15 South Cave Church known as The Parochial Church Council of the Ecclesiastical Council of All Saints Church South Cave Iyotes to the Financial Statements for the Year Ended 31 December 2024 l Accounting policie5 Statement of compliance The financial Statements have been prepared in accordance with the second edition of the Charities Stateinent of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdoin and Republic of Ireland (FRS 102) and the Charities Act 2011. Basis of preparation South Cave Church meets the definition of a public benefit entity under FRS 102. The accounts (financial stateinents) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. Going concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. Income and endowments Voluntary incoine including donations, gifts, legacies and grants that provide core funding or are of a oeneral nature is recognised when the charity has entitlement to the income. it is probable that the income will be received and the amount can be measured with suificient reliability. Doiiations oiid legocles Donation5 and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Grunls receivable Grants are recotsnised when the charity has an entitleinent to the funds and any conditions linked to the grants have been Inet. Where performance conditions are attached to the grant and are yet Lo be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. Inveslmenl Income Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Page 16 South Cave Church known as The Parochial Church Council of the Ecclesiastical Council of All Saints Church South Cave Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) Expenditure All expenditure is recognised once there 15 a legal or constructive obligation to that expenditure, it is probable settlement is required and the ainounl can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs lo that Category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Rfiisingfuiids These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds. Support costs Support cost5 include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Governance costs These include the costs attributable lo the charity's compliance with constitutional and statutory requirements, including audit, strategic Inanageinent and trustees Ineetings and reimbursed expenses. Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 201 O and therefore it meets the definition of a charitable company for UK corporation lax purposes. Accordingly, the charity is potentially exempt froin taxation in respect of income or capital gains received within categories covered by Chapter 3 Part I I of the Corporation Tax Act 201 O or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such incoine or gains are applied exclusively to charitable purposes. Tangible fixed a55ets Individual fixed assets costing £50.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impaiment losses. DepreciatioTr and amort15ation Depreciation is provided on tangible fixed assets so a5 to write off the cost or valuation. less any estimated residual value, over iheir expected usetul econoinic life as follows: Page 17 South Cave Church known as The Parochial Church Council of the Ecclesiastical Council of All Saints Church South Cave Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) Fixed asset investments Fixed asset investments, other than programine related investments, are included at market value at the balance sheet date. Realised gains and 1055es on investments are calculated as the difference between sales proceeds and their m