CHARITY REGISTRATION NUMBER: 1131867 Workington St Michael Parochial Church Council Unaudited Financial Statements 31 December 2024 robinson+co Chartered Accountants
Workington St Michael Parochial Church Council Financial Statements Year ended 31 December 2024 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements 10
Workington St Michael Parochial Church Council Trustees, Annual Report Year ended 31 December 2024 The trustees present their report and the unaudited financial stslement$ of the charity for the year ended 31 December 2024. Reference and administrative detall$ Reglstered charity narne Workinglon St Michael Parochial Church Council Chartty reglstration number 1131867 Prlnclpal office Workington Parochial Church Council Parish Office Sl Michael's Church Falcon Place Workington CA14 2EZ The trustee$ In 2024 Chair Mr Eric Martin (Appointed September 20241 The Very Revd Dr Frances Ward (Resigned September 20241 Associate Prlest The Revd Dr Peter Powell (Resigned September 20241 Readers Ms Charlotte Lait Ms Rachel Rose Ploneer Mlnlster Mrs Valerie Hallard Wardens Mr Eric Martin Mrs Wendy Kendall Secretary Mrs Julia Sharpe Treasurer Mrs Joanne Braniff Lay Chairperson Mr Eric Martin Deanery Synod Representatives Mr Brian Wilkinson (from 20201 Mrs Julia Sharpe (from 2020) Ms Charlotte Lait Ifrom 20241 Safeguarding Officer Mrs Jan Wity. Mrs Wendy Kendall Electoral Roll Officer Mr Brian Wilkinson Gift Aid Offlcer Mrs Wendy Kendall
Workington St Michael Parochial Church Council Trustees, Annual Report Year ended 31 December 2024 Trustees To serve until APCM 2025.. Mrs Clare Stilwell Mrs Wendy Kendall Miss Eleanor Wilson lo serve until APCM 2026.. Mr Eric Martin Mr Stuart Edger Mrs Julia Sharpe Mr Mark Stilwell Mr Keith Beattie Mrs Helen Tinnion Mr Brian Wilkinson Mrs Sheila Clark Mr Barry Clark lo serve until APCM 2027.. Joanne Braniff Commltteo8 The PCC meets approximately eight limes a year lo oversee the overall d1ctiOn of mission, vision and $lralegy, and the work of a number of committees, which meet as required betsveen full meetings of the PCC Standlng •nd Flnance Commlttee This committee meets occasionally as need arises or in emergency as a subcommittee of the PCC, and is comprised of the Priest in Charge. the Lay Chair, the Warden$, the Secretary, the Treasurer and any co-opted members. Soclal Commltttse This committee plans and COwordinate$ social activities of the parish church, to develop and promote good fellowship, lo fund raise for the parish and for other soci81 causes, 8tèward8hlp Commlttee The Stewardship committee, with the help of the Oiocesan support team of Sophi6 Hodges and John Thompson, who ¢onsulled with the PCC in June 2022, and again in July 2023, organised a Generosity Week in October 2023, which was well received and showed small increases in giving. The church currently holds a Generosity Week on an annual basis. Safeguardlng Commlttee In 2024 Mrs Jan Witty holds the Safeguarding Officer role for both parishes. with the support of Mrs Wendy Kendall. Accountants robinson+co Chartered Accountants Oxford Chambers. New Oxford Street Workinglon CA14 2LR
Workington St Michael Parochial Church Council Trustees. Annual Report Year ended 31 December 2024 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 119561 lately amended by the Church Representation Rules, 2020. The PCC became an Offi¢ial Charity registered with the Charity Commission in 2009, Charity Number 1131867. Recruitment and Appointment of Members Members of the PCC are either ex officio or elected by the Annual Parochial Church Meeting in accordance with the Church Representation Rules. Oblectlves and actlvltlo8 The PCC'S objectives are to provide worship and provide facilities to benefit the environment and the community al large. Public Benefit The Iruslees have referred lo the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning lulure aclivilies, to ensure such activities contribute lo the aims and objectives. Achlovomfjnt• and performance Church attendance Al the 2024 APCM il was report that there were 218 names on the roll. 66 of those on the roll reside in the parish,. 131 reside elsewhere in Workinglon and 21 are nOn-sident. A new electoral roll will be drafted for the APCM in 2025 Attendance on normal Sundays is approximately as follows'.- 9.'30am al Sl Michael's 3040 11 am al Sl John's 3040 Common Worship {Sungl with Sunday School Common Worship {Sungl with Sunday School The midweek Eucharist on Tuesday at 11 am is followed by refreshments with approxlmalely 12.20 communicants. ICW, saidl Thursday (now monthly on 3rd Thursdayl at 6'.30pm 10-12 Common Worship Isaidl During 2024.. Bap115ms in Church.. Funerals in Churoh.. Weddings in Church,. 29 39
Workington St Michael Parochial Church Council Trustses, Annual Report(contlnuedJ Year ended 31 December 2024 Review of the year- Ch8iVs Report In 2024 spirits remain high al Sl Michael's. with many new inib'atives fulfilling the four goals of growing younger, growing greener, growing OUardS and growing closer lo God. The retirement of the Rector and Priest in Charge in September 2024 has put the parish into an interregnum. Weekly services are taken by different clergy. The conference facilities and office ¢onlinue to be adminislraled by a team of volunteers, headed by the Church Warden, Mrs Wendy Kendall. The parishes of St Michael's and Sl John's are developing in their status of a united Beneliee, which came into being on 1 January 2024, with the re-inslalemenl of the ancient post of Rector of Workington. In September 2024 the Rector, the Very Revd Dr Frances Ward, and the associate priest, The Revd Dr Peter Powell, retired from their posts. Growing Closer lo God.. The Sunday services are as follows.. 9.30 al St Michael's Parish Eucharist 11 am al Sl John's Parish Eucharist Weekly baptisms al either or both churches on the second and fourth Sundays each month 6.30 pm at Sl Michael's Iwilh a monthly pattern of a variety of seNi¢e$. including healing, choral evensong, the offering of incense, and faith 510ry sharing) The NYO midweek services al 11 am on Tuesday 1st Ml and 11 am on Wednesday 1st Jl are both followed by refreshments and lunch club respectively, which were designated warm hubs during the cost of living crisis. Growing Greener,. The parishes collaborate with a 'gre8n group,, chaired by Valerie Hallard, and are working towards gold Eco awards. Pollinator projects and 'greening the churchyards, are underway across each parish, and close links developed with local wildlife and nature partnerships. Growing Younger.. Both churches continue to hold Sunday Schools every Sunday. The Youth Group al St. Michaels continues lo meet on Thursday evenings, and the Messy Michaels session happens in chUh on the first Sunday in the month. Growing outwards in the Town.. Civic services continue lo be held in Sl. Mi¢hael$. These things are important lo both PCCS. Continuing voice and presence of the Church in Workington With the announcement of the retirement of the Rector and associate Priest, both churches collaborate on the process towards the appointment of the next Rector, with a strong sense of posilivily. The Parish Magazine, Church Crack, is edited by Mrs Sue Shaw. Both parishes continue lo explore ways lo collaborate, for example, by sharing office resources and roles le g. the Safeguarding Officer). Sustaining a full worship programme on Sundays and through the week Sharing musieal expertise, including bell ringing Both parishes have real resources lo develop in this area and are committed lo further collaboration Faithful discipleship.. all learning study groups. confirmation, etc- is done over both parishes
Workington St Michael Parochial Church Council Trustees, Annual Report Icontlnu8dJ Year ended 31 December 2024 The United Benefice has the following Governance.. Separate PCCS, meeting monthly or bimonthly 2 or 3 joint PCC days each year lo determine strategy, mission and outreach, and goveman¢e 4 meetings a year of a joint Standing Committee.. Church wardens. secretaries, taSurerS with clergy and ministers Four Growing Groups, to take fomard mission and strategy Subcommittee meetings, sharing practice and expertise, on fabriclbuilding maintenan¢e, finance and stewardship, social programmes, leaching, communication and social media, elc Streamlined administration, with shared roles lo avoid duplication. e.g. Safeguarding. Mlnlstry and Wornhlp.. see above lor change to the pattern of worship, as Sl Michael's and Sl John's parishes work more closely together. Online worship was made possible by Mr Mark Stilwell. The organist role is shared by Mr Mark Hazzard, Mr Alan Jackson, Mr Mark Stilwell and Mr Christopher Lamb. There were joint seNices held with both churches, through Holy Week and Easter, at Ascension, al Remembrance Sunday in November, and over Christmas, Vocatlons and tralnlng: a focus continues on lay education and encouraging a sense of vocation to licensed lay ministry, ordination and volunteering, particularly after Charlotte Lail and Rachel Rose's licensing in November 2023, who preached increasingly often through the year. PCC members have taken over pastoral roles, visiting parishioners on a regular basis, including monthly provision of home communion for those in neeé, and facililaling funerals as required in church. Bulldlng and Malntenan¢e'. The PCC continues lo be grateful lo Eric Martin. in particular. for his commitment lo ensure our facilities continues lo be well maintained for use by Ihe congregation and organisalions throughout our community. Throughout 2024 the Soclal commltteo, ¢haired by Mrs Clare Stilwell, continued to meet to plan a calendar of events and the Youth Group continued to provide some events. The Sunday School under the leadership of Mrs Wendy Kendall, continues in good heart, for which the PCC was grateful. The Tots Group and Youth Group continues lo thrive and grow, with the tols group full and with a wailing list. and the youth group increasing with approximately 12 members. Thanks lo Mrs Clare Stilwell and Miss Ellie Wilson and their teams lor their continued commitrnent, time and effort. Plannlng for a Secure flnanclal future In July the Parish Offer for 2024 was pledged al £39,500.
Workington St Michael Parochial Church Council Trustses. Annual Report (contlnu•dJ Year ended 31 December 2024 The Reserves Policy: Supported by advice from Robinsons & Co. the PCC agreed in November 2023 to consolidate its reserves and funds into three main CCLA interest generating accounts.. Fabric {Reslricledl Mission (Designated) General With continuing accounts.. a CCLA account that holds the (restricted to fabric) endowments of Jackson and Bowes, now lo include also another endowment fund Ireslricted lo fabric) and other separate endowments that will remain with their own accounts.. MA & N Howarth lunrestn"ctedl endowment Shaw lunreslricledl endowment The Fabric CCLA (Reslricledl account Ino. 1 above) to consolidate GE Jone5,' W Jackson," Cowan., Murphy., CBF Church alc. Into this account would go the interest from account141 comprising the endowments of Jackson and Bowes Irestricled to fabric). The Mission CCLA (Designated) account Ino. 2 abovel lo consolidate A Hogarth., GE Jones,. Misc. Into this account would go the interest from endowment accounts 5 and 6 above IMA & N Howarth and Shawl. Shares are also held in the names of MA & N Howarth and Shaw. The dividends from these shares would go into the Mission Account. The Gener81 CCLA Unrestricted Account will hold funds lo generate interest. to support the current account as required. Principal funding sources Aside from the income generated by the church hall and conference centre lettings, the principal funding is voluntary income through planned giving, service collections and general donations. Risk Management During 2024, the members have continued lo be mindfvl of the major strategic. business and operational risks which the PCC faces and confirm that systems have been estsblished lo enable regular reports lo be produced so that the necessary steps can be tsken to lessen these risks. The trustees annual report Was approved al the APCM on Sunday 18th May 2025 and signed on behalf of the board of trustees by.. Mr Eric Martin ChLJrch Warden, Lay Chair of the PCC.
Workington St Michael Parochial Church Council Independent Examiner's Report to the Trustees of Workington St Michael Parochial Church Council Year ended 31 December 2024 I report to the Iruslees on my examinatson of the financial statements of Workington St Michael Parochial Church Council {'the charity'l for the year ended 31 December 2024. Re8ponslbilltle8 ond basls of report As the tnjslees of the charity you are responsible for the preparation of the financial stslemenls in accordance with the requirements of the Charities Act 2011 I'lhe Act'i. I report in respect of my examination of the charity's financial slalements 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 14515llbl of the Act. Indopendent 8xamln8rf8 8tatement S have completed my examination. I confirm that no material matters have come lo my attention in connection with the examination giving me cause to believe that in any material respect.. accounting cOrdS were not kept in respect of the charity as required by section 130 of the Act., or the financial statements do not accord with those records., or the financial slalements do not comply with the applicable requiremènts concernlng the fom and conlenl of accounts set out in the Charities (Accounts and Reportsl Regulations 2008 other than any requirement that the accounts give a 'lrue and fairf view which is not matter considered as part of an Independent examination. I have no con¢ems and have come across no other matters in connection with the examinatlon lo which allenlion should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Darren Mewse FCA Independent Examiner robin$on+co Chartered Accountsnts Oxford Chambers, New Oxford Street Workinglon CA14 2LR 18 May 2025
Workington St Michael Parochial Church Council ststement of Financial Activities Year ended 31 December 2024 2024 Reslrieled Endowment funds funds Total fund8 Totsl funds 2023 Unrestricted funds Note Income and endowment$ Donations and legacies Charitable activities Other trading activities Investment income 38,730 8.920 35,735 17,045 100,430 38,730 8,920 35,735 21,572 40.364 8.815 41,338 16,543 107,060 4.527 Total Income 4.527 104,957 Exp¢ndlture Expen(Jilure on charitable activities {100,3461 {100,3461 114,9651 114,9651 1115,3111 1113,9341 {115.3111 1113,9341 Total oxpendlture Nel gains on investments 10 1,650 1,650 6,200 Net oxpendlture 84 (10.4381 1,650 18,7041 16741 Not movement In fund8 84 {10.4381 1,650 {8,7041 16741 RoconcllSatlon of fund• Total funds brought fOard Total funds carrlod fopward 304,275 50.191 152.010 153.660 506,476 507,150 304,359 39,753 497,772 506,476 The slalement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from ¢onlinuing aclivilies, Thè notes on pages 10 to 23 fomi part of thesè finanelal statements.
Workington St Michael Parochial Church Council ststement of Financial Position 31 December 2024 2024 2023 Flxed assets Tangible fixed assets Fixed asset investments 14 15 36,409 73,755 110,164 35,913 72,105 108.018 Current a888ts Debtors Short term deposits Cash at bank and in hand 14,429 364,014 23,976 402,419 22.156 353.460 30.507 17 4C6.123 Crndltor8'. amounts falllng due wlthln one year Net curr•nt as80ts 18 {14,8111 387.608 17,6651 398,458 Total assets1088 ¢urr8nt Ilabllltle• 497.772 506,476 506,476 Net assets 497,772 Funds of the ¢harlty Endowment funds.. Permanent endowment funés Expendable endowment funds Restficled funds Unrestricted funds 146,274 7,386 39,753 304,359 144,624 7,386 50,191 304,275 Total charlty fund8 21 497,772 506,476 These financial statements were approved by the board of trustees and aulhorised for issue on 18 May 2025, and are signed on behalf of the board by.. Mr Eric Martin Church Warden. Lay Chair of the PCC. The notes on page8 10 to 23 fom) part of the8• finanelal Statements.
Workington St Michael Parochial Church Council Notes to the Financial Statements Year ended 31 December 2024 General Infomiatlon The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the pllncipal office is Workinglon Parochial Church Coun¢il, Parish Office, St Michael's Church, Falcon Place, Workington. CA14 2EZ. Statement of eompllancfr These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable lo charities preparing their accounts in a¢¢ordance with the Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 Icharilies SORP IFRS 10211 and the Charities Act 2011. The financial statements have been produced lo give a 'true and fair, view and have departed from the Charities (Accounts and Reportsl Regulations 2008 only lo the exlenl required lo provide a 'lrue and fair view,. This departure has involved following Accounting and Reporting by Charities preparing Iheif accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014 rather than the Accounting and Reporting by Chafilies.. Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. A¢¢ountlng pollcles Ba818 of preparatlon The financial statements have been prepared on the historical cost basis. a5 modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepaTed In sterling. which is the functional currency of the entity. Golng con¢•rn There are no material uncertainties about th8 charity's ability lo continue, Dl$elo•ure exemptlon8 The charity has taken advantage of the exemption in FRS 102 Update Bulletsn 1 from the requirement lo produce a cashflow statement because it is a small charity. Judgoments and key source8 of estlmatlon uncortalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors. including expectslions of future events that are believed lo be reasonable under the ¢ircumslances. 10-
Workington St Michael Parochial Church Council Notes to the Financial Ststsments (contlnued) Year ended 31 December 2024 Accountlng policies (contlrtu• Judgement8 and key 80urces of 8stlm4tlon uncertalnty (contlnu•dJ Significant judgements The judgements lapart from those involving eslimalionsl that the members have made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows.. Investment valuations Investments held by the PCC are listed and therefore are independently valued at market value. Impairment of tangible fixed assets The PCC is required lo review fixed assets for impairment. The members make judgments about the condition of assets and review their eslimaled lives. Key sources of eslimalion uncertainly Accounting eslimales and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome, The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment lo the carrying amounts of assets and liabilities within the next financial year are as follows.. The useful economic life of each category of fixed asset is assessed when acquired by the PCC. A degree of estimation is ouasionally used in assessing the useful economic life of assets. Fund *¢countlng Unreslricled funds are available for use al the discretion of the trustees to further any of the charity's purposes. Restricted fvnds are subjected to rtstrtctions on their expenditure declared by the donor through the terms ol an appeal. and fall into one of two Sub-classes.. reslricled income funds or endowment funds Incomlng resources All income is included in the statement of financial activities when enlillemenl has passed lo the charity, il is probable that the economic benefits associated with the transaction will flow lo the charity and the amount can be reliably measured. The following specific policies are applied lo particular categories of income.. income from donations or grants is recognised when there is evidence of enlillement to the gift, receipt is probable and its amount Can be measured reliably. legacy income is recognised when re¢eipt is probable and enlillement is estsblished. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably. in which case the value is derived from the cost lo the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. 11
Workington St Michael Parochial Church Council Notes to the Financial Statements (contlnuedj Year ended 31 December 2024 Ac¢ountlng poll¢le8 (eonllnuedj Incomlng resources fcontlnutdj income from contracts for the supply of services is re¢ognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement lor it lo be spent on a parbcular purpose and relumed if unspent, in which case it may be regarded as restricted. in¢ome from investments is included in the year in whi¢h it is re¢eivable. alised gains or losses are recognised when investments are sold. unalised gains or losses are accounted for on revaluation of investments at 31 December. Re8our¢08 6xp•ndod Expenditure is recognised on an a¢cruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of rinancial activities to which it relale$'. expenditure on raising fvnds includes the costs of all fundraising aclivilies, events, non-chafilable trading activities. and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further ils charitsble aims for the benefit of its beneficiaries, including those support costs and Costs relallng lo the govemance of the charity apportioned lo charitable a¢livilies. other expendllure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable lo a single activity are allocated directly lo that aclivily. Shared costs are apportioned betsveen the activities they contribute lo on a reasonable, justifiable and consislenl basis. The diocesan quota or parish share is a¢counte¢J for when payable. Any quota unpaid al 31 December is not provided for in these accounts as il is an operational Ilhough not a legall T•nglbl8 assets Tangible asset$ are initially recorded al cost, and subsequently slated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried al revalued amounts are recorded al the fair value al the dale of revaluation less any subsequent accumulated depreciats'on and subsequent accumulated impaimienl losses. Consecrated and beneficed propety is excluded from the accounts by $.10121{al of the Charities Act2011. No value is placed on movable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this lo be inalienable property. All expenditure incurred during the year on consecrated or benefice buildings and movable church furnishings, whether maintenance or improvement, is written off as expenditure in the SOFA and separately disclosed. 12-
Workington St Michael Parochial Church Council Notes to the Financial Statements (contlnu8dJ Year ended 31 December 2024 Accountlng policies (¢0ntlnvj Deprnclatlon Individual item$ of equipment with a purchase price of £1,000 or less are written off when the asset is acquired. Freehold property Fixtures and fittings 2 % straight line 25% straight line Investments Investments held as fixed assets are revalued at mid-mart¢el value al the balance sheet date and the gain or loss tsken lo the statement of finan¢ial a¢tivilie$. Current asset investments are at the lower of ¢o$t and nel realisable value. Imp•lrment of flxed 088et8 A review ft)r indicators of impaiment is carried out at each reporting date. with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount. the asset is impaired accordingly. Plior impairments are also reviewed for possible reversal al each reporting dale. For the purposes of impaimenl testing, when il is not possible lo estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the eash-generating unil lo which the asset belongs. The cash-generaling unil is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition dale, allocated lo each of the cash-generaling units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Flnanclal Instrumonts Basic financial instruments are re¢ognised al amortised cost, except for fixed asset investments which are measured al fair value, Doflned contrlbutlon plan8 Contributions lo defined contribution plans are recognised as an expense in the period in which the related servi¢e 1$ provided. Prepaid contributions are recognised as an asset lo the extent that the prepayment will lead lo a reduction in future payments or a cash refund. When contributions are not expected lo be settled wholly within 12 months of Ihe end of the reporting dale in which the employees render the felaled service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which il arises. 13-
Workington St Michael Parochial Church Council Notes to the Financial Ststements (contlnuedj Year ended 31 December 2024 Donatlons and legacles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donatlon8 Collections al all seNice$ Planned giving Taxes recoverable Sundry donations 6,167 25,730 16261 7,459 6,167 25,730 16261 7,459 6,626 26,407 6,626 26,407 5,201 5,201 Grant8 Grants receivable type 15 2,130 40,364 2,130 38,730 38,730 40,364 Charltable actlvltle• Unreslricled Total Fund• Unrestricted Total Funds Funds 2024 Funds 2023 Fees Magazlne donations and advertising 8,580 340 8,580 340 8.185 630 8,18S 630 8.920 8,920 8,815 8,815 other tradlng aetlvltl•8 Unreslricleé Total Fund• Unrestricted Total Funds Funds 2024 Funds 2023 Shop income Church hall lettings Catering and refreshments income Feles, bazaars and other fund raising Sundry income 1.011 25,985 1,011 25,985 1,802 28,510 508 9,665 853 1,802 28,510 508 9,665 853 7,674 1,065 35,735 7,674 1,065 35,735 41,338 41,338 14-
Workington St Michael Parochial Church Council Notes to the Financial Ststements (contlnu8dJ Year ended 31 December 2024 Investment Income Unreslri¢led Funds Restricted Total Funds Funds 2024 Dividend income Bank intefest receivable 2,863 14,182 17,045 2,863 18,708 4,527 4,527 21,571 Unreslricled Funds Restrictèd Total Funds Funds 2023 Dividend income Bank interest receivable 1,971 10,823 12.794 1,971 14,572 16.543 3.749 3.749 15-
Workington St Michael Parochial Church Council Notes to the Financial Ststements (contlnu¢dJ Year ended 31 December 2024 Expenditure on ¢harltable actlvities by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Catering supplies Wages and salaries Organist's expenses Ministry- parish offer Ministry- Clergy expenses Insurance Church njnning expenses Church repairs and maintenance Church hall running costs Diocese fees Sundry expenses Depreciation of tangible fixed assets Missionary and charitable giving Accountancy charges Legal and professional fees Bank interest Telephone and inlernel charges Printing and stationery 87 87 470 39,500 416 8,748 12,765 12,243 5,866 3,329 6,601 3,344 815 2,545 816 470 39,500 416 8.748 12,765 27,208 5,866 3,329 6,601 3,344 815 2,545 816 14,96S 1,373 1,428 1,373 1,428 100,346 14,965 11S,311 Unrestricted Funds Restricted Total Funds Funds 2023 Catering supplies Wages and salaries Organist's expenses Ministry- parish offer Ministry- clergy expenses Insurance Church running expenses Church repairs and maiftlenance Church hall running costs Diocese fees Sundry expenses Depreciab'on of tsngible fixed assets Missionary and charitable giving Accountancy charges Legal and professional fees Bank interest Telephone and intemel charges Printing and stationery 270 12,969 225 38,000 414 7,858 12,733 2,799 1,924 3,090 7,769 2,386 100 2,355 1,194 270 12,969 225 38,000 414 7,858 12,733 16,561 1,924 3.090 7.769 2.386 100 2,355 1,194 13,762 1,523 4,563 1,S23 4,563 100,172 13.762 113.934 16
Workington St Michael Parochial Church Council Notss to the Financial Statements Icontinuedj Year ended 31 December 2024 Expendlture on charitablo activitles by actlvlty type Actsvities undertaken Total funds directly 2024 Total fund 2023 ChLtrch activities 115.310 115,310 113,934 10. Net gains on investments Endowment Total Funds Endowment Total Funds Funds 2024 Funds 2023 Gainslllossesl on listed investments 1,650 1,650 6,200 6,200 11. Net expenditure Nel expenditure is staled after ehargingllcreditingl.. 2024 2023 Depreciats'on of tangible fixed assets 3,344 2,386 17-
Workington St Michael Parochial Church Council Notes to the Financial Statements l¢onllnuedJ Year ended 31 December 2024 12. Indepèndent examlnatlon fees 2024 2023 Fees payable lo the independent examiner for.. Independent examination of the financial statements 2,545 2,355 13. Trustee rernuneratlon and 0Xne9 During the current and previous year no trustee received remuneration from the PCC. 14. T•nglble flxed a88ets Freehold Fixtures and property fittings Total Cost At 1 January 2024 Additions 75,000 24,917 3,840 28.757 99.917 3.840 At 31 Oecomber 2024 75,000 103.757 Depreclatlon Al 1 January 2024 Charge fof the year At 31 December 2024 40,500 1,500 42.000 23.504 1,844 64,004 3,344 67,348 25,348 Carrylng amount At 31 De¢omber 2024 33,000 3,409 36,409 35,913 Al 31 December 2023 34,500 1,413 15. Flxed ass•t Invo•tments Llsted Inve8tment• Valuatlon At 1 January 2024 Additions Fair value movements 72.105 1,650 73,755 At 31 December 2024 Carrylng amount At 31 December 2024 73,755 72,105 Al 31 December 2023 Atl investments shown above a held al valuation. 18-
Workington St Michael Parochial Church Council Notes to the Financial Statements (¢ontlnued) Year ended 31 December 2024 15. Fixed asset Inve8tment8 (contlnuedl Flnanclal a8Set8 held at falr value The historical cost of fixed asset investments al 31 Oecember 2024 was £36.500 {2023'. £36.5001 All fixed asset investments are held within the United Kingdom. The above investments consisted of 3,189.75 income shares in the CBF Church of England Investment Fund. The share valuation at 31 December 2024 was £2,312.27p per share12023 £2,260.53pl. 16. Debtord 2024 2023 Trade debtors Prepayments and ac¢rued income Other debtors 3,772 4,623 6,034 1.421 3.S52 17,183 22,156 14,429 17. Short terrn dopo8lt• 2024 2023 Short-term deposits brought forward Short-term deposits additions Short-term deposits disposals 353,460 20,554 110,0001 364,014 359,958 13,502 120,0001 353,460 Short-lerm deposits Comprise short-lem deposits In the CBF Church of England Deposit Fund or at the bank. 18. Credltorn.. amounts falllng due wlthln on• yo•r 2024 2023 Trade creditors Accruals and deferred income 11.757 3.054 4,839 2,826 14,811 7,665 19. P¢nslon8 and other post rotlremènt beneflts Deflned contrlbutlon plans The amount recognised in income or expenditure as an expense in relation lo defined contribution plans was £Nil12023'. £2761. 19-
Workington St Michael Parochial Church Council Notes to the Financial Statements (eontlnued) Year endod 31 December 2024 20. Analysis of choritabl¢ fund8 Unrestrlcted funds Al 1 Jan 2024 Gains and At 31 De¢ losses 2024 Income Expenditure Transfers General funds Designated mission fund 270,092 98,717 1100.3461 268,463 34,183 1,713 35,896 304,275 100.430 {100,3461 304,359 Al 1 Jan 2023 Gains and Al 31 Dec losses 2023 Income Expenditure Transfers General funds A Hogarth fund G E Jones fund Designated mission fund 267,296 1,000 28,541 102,397 1100.1721 572 11,0001 129,4561 270,092 914 34,183 34,183 296,837 103,311 {100,1721 4,299 304,275 General fvnds present the funds of the PCC that are not subject lo any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted. The PCC agreed in November 2023 to Consolidate ils reserves and fvnds which has resulted in various transfers in the year as summarised below.. Transferred into General unreslricled funds from reslricled funds was £572 which comprised of some small historic restricted fund balances IVS Bowes £55, TW Jackson £468 and Youth grouplparish outings £491 in 2023. The A Hogarth Fund of £1,000 and G E Jones Fund of £29,456 were transferred into the designated mission fvnd, along with £3,727 transferred from 'Miscellaneous' restricted funds In 2023. Restrlcted funds -20-
Workington St Michael Parochial Church Council Notes to the Financial Statements (conllnu•dJ Year ended 31 December 2024 At 1 Jan 2024 Gains and At 31 Dec losse5 2024 Income Expenditure Transfers Fabric fund 50,191 50,191 4,527 4,527 {14.965} 114,9651 39,753 39,753 At 1 Jan 2023 Gains and At 31 Dec losses 2023 Income Expenditure Transfers Miscellaneous Restricted Funds Fabric fund 33,622 30,881 64,503 1,065 2,684 3,749 134,687} 30,388 14,2991 113,7621 113,7621 50,191 50,191 Reslricled funds are those funds which musl be spent on ffjstricled purposes in accordance with the donors. wishes. The fabric fund represents monies rai5&d for the maintenance and upkeep of the Church building. The PCC agreed in November 2023 to cor¢solidale its reserves and funds which has resulted In various transfers in the year a$ summarised below.. Miscellaneous restricted funds was largely made up of different donations received in the past for the maintenance of the Church building such as the John Clark Slee maintenance fund1£11,0901 G E Jones 1£2,061 I TW Ja¢k$on 1£4,2301. Cowan 1£8,0511 and Murphy 1£4,6691 as well as a small balance held in a CBF Church Hall account. These have all been Iransfefred into the Fabric Fund. The remaining £4,299 previously held in miscellaneous restricted funds has been transferred into unrestricted funds as disclosed above in 2023. 21
Workington St Michael Parochial Church Council Notes to the Financial Ststements (c¢Mllnu6dJ Year ended 31 December 2024 20. Analy818 of charltable funds (¢¢)ntInYI) Endowment fund8 At 1 Jan 2024 Gains and At 31 Dec losses 2024 Income Expenditure Transfers Elsie Shaw Bequest MA & N Hogarth Miss V S 8owes Revd. T W Jackson 78,530 66,094 447 904 746 79.434 66.840 447 6,939 152,010 6.939 1.650 153,660 Al 1 Jan 2023 Gains and Al 31 Dec losses 2023 Income Expenditure Transfers Elsie Shaw 8equesl MA & N Hogarth Miss V S 8owes Revd. T W Jackson 75,132 63,292 447 3,398 2,802 78,530 66,094 447 6,939 8,939 145,810 6,200 152,010 The V S Bowes fund is reslncted lo use for the parish hall. The T W Jackson fund is restricted lo use for the church fabric. The Elsie Shaw bequest and the MA & N Hogarth pemanenl fund are permanent endowments bul the income can be used for general church purposes and is therefore unreslTicled. 22-
- Analysls of net assets b¢twfr¢n fund8 Unrestricted Funds Restricted Endowment Totsl Fund8 Funds Funds 2024 Tangible fixed asset$ Investments Current assets Creditors less than 1 year Net assets 36,409 36,409 73,756 402.418 114.811) 497,772 73.756 79.904 282,761 {14,8111 304,359 39,753 39,753 153.660 Unreslricled Funds Reslricled Endowment Totsl Funds Funds Funds 2023 Tangible fixed assets Investments Current assets Creditors less than 1 year Net ass•ts 35,913 35,913 72,105 406,123 17,6651 506,476 72,105 79,905 276,027 17,6651 304,275 50.191 50,191 152,010
- Related partle8 The charity received donations in the year from Iruslees of £9,80012023 - £9,183).