Parochial Church Council of Newark St Mary Magdalene with St Leonard: Annual report and financial statements 2021
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NEWARK ON TRENT ST MARY MAGDALENE WITH ST LEONARD
Registered Charity number 1131972
ANNUAL REPORT and FINANCIAL STATEMENTS
for the financial year 1 January 2021 - 31 December 2021
page 1
Parochial Church Council of Newark St Mary Magdalene with St Leonard: Annual report and financial statements 2021
| Contents | |
|---|---|
| pages 3 - 5 | Legal and administrative information |
| pages 6 - 8 | Report of the trustees |
| page 9 | Consolidated statement of financial activities |
| page 10 | Consolidated balance sheet |
| pages 11 - 18 | Notes forming part of the financial statements |
| page 19 | Report of the independent examiner |
page 2
Parochial Church Council of Newark St Mary Magdalene with St Leonard: Annual report and financial statements 2021
Bankers
Virgin Money 11 Smithy Row Nottingham NG1 3EJ
CAF Bank Ltd 25 Kings Hill Avenue West Malling Kent ME19 4JQ
NatWest plc 1 Market Place Newark NG24 1DY
CCLA Investment Management Ltd The CBF Church of England Funds Senator House 85 Queen Victoria Street London EC4V 4ET
Independent Examiner
Michelle Allen FCA, CTA Access Accounts Services Ltd Office 11 Navigation Business Centre Mill Gate Newark NG24 4TS
page 3
Parochial Church Council of Newark St Mary Magdalene with St Leonard: Annual report and financial statements 2021
Administrative Information
The parish consists of two churches: Newark St Leonard and Newark St Mary Magdalene, situated in the Deanery of Newark and Southwell, the Archdeaconry of Newark, and the Diocese of Southwell and Nottingham.
The Parochial Church Council (PCC) is a registered charity (1131972) and its members are the charity's trustees. The members are listed on the next page.
The working name as registered with the Charity Commission has for historical reasons and convenience remained as Newark Team PCC. The PCC's name as an employer registered with HMRC is Newark Team Ministry PCC.
The address for correspondence is:
St Mary Magdalene Church Church Walk Newark NG24 1JS email: office@stmnewark.org
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Parochial Church Council of Newark St Mary Magdalene with St Leonard: Annual report and financial statements 2021
The following were PCC members (trustees) from 1 January 2021 through the date (12 May 2022) on which the PCC approved the 2021 report and financial statements.
Ex-officio
Rector of parish Revd Christopher Lion (from 18 October 2021; chairman from that date) Parish churchwardens Jackie Turner (St Leonard) Roy Leary (St Leonard; until 19 February 2022) Tony Roberts (St Mary Magdalene; chairman until 18 October 2021) Andrew Fearn (St Mary Magdalene) Synods Tony Yates (deanery synod) Pam Hall (deanery synod) Elected Members Marilyn Blakeman Anne Coyne Rebekah Davison (from 17 May 2021) Sue Dutton Angela Hatter James Howlett Shekaniya Matsiko Pat Mercer Charles Olowofela (until 25 October 2021) Cheryl Turner *Stephen Turner Helen Wilkinson (from 17 May 2021 until 10 October 2021)
- in office at 31 December 2021
page 5
Parochial Church Council of Newark St Mary Magdalene with St Leonard: Annual report and financial statements 2021
Structure, governance and management
The parish of Newark on Trent with St Mary Magdalene with St Leonard evolved by means of four pastoral schemes made between 1980 and 2017. The Parochial Church Council (PCC) is a registered charity and is the body with legal responsibility for the church activities within the parish.
The two churches in the parish each have two churchwardens as required by statute. While all four wardens are legally wardens of the whole parish they exercise their functions primarily at the church from whose congregation they were appointed.
Parishioners give to the churches separately for mission and ministry and maintenance and this income therefore creates a set of restricted funds within the PCC's accounts (in that the PCC is generally constrained to apply it for uses specific to the church to which it is given).
Aim and purposes
The PCC is responsible for co-operating with the Clergy in promoting in the ecclesiastical parish the whole mission of the Church, spiritual, pastoral, evangelistic, social and ecumenical.
Church buildings within the parish
The two parish churches are set in different and distinct geographical and social environments. The building at Newark St Mary Magdalene is old and traditional and provides a venue for civic services. The building used by Newark St Leonard is part of the Bridge Community Centre which is owned by the local authority and run by a management committee on which the St Leonard congregation has substantial representation.
The PCC is ultimately responsible for managing the fabric of its buildings (this includes a limited responsibility for the for the internal fabric of the Bridge Community Centre). Members of both churches are actively engaged in reviewing and implementing repairs and restorations.
page 6
Parochial Church Council of Newark St Mary Magdalene with St Leonard: Annual report and financial statements 2021
Objectives and activities
The PCC provides an office (currently in the vestry at St Mary Magdalene). The PCC continued to employ a parish administrator (costs funded by the diocese) throughout 2021.
Churchwardens and clergy and others appointed by the PCC continue to monitor health and safety of premises and the safeguarding of children and vulnerable adults among the church congregations and where appropriate among visitors to church premises. During 2021 as in 2020 the efforts required to maintain safe premises were considerably more demanding owing to the coronavirus pandemic. For much of the previous twelve months we have tried to encourage people to come to both churches by making use of restricted seating and limiting the number of pews or chairs in use. Congregational singing was reintroduced once regulations permitted.
After the easing of covid restrictions in the latter half of 2021 and the appointment of a new Rector (Revd Chris Lion) in October, there has been a marked and positive shift in the parish outlook. We have also acquired the services of retired Bishop Peter Hill, who will be supporting Chris in his ministry. Sadly, we had to say farewell to Owen and Gill Page who have moved back to Nottingham. They were both so helpful and dedicated during the parish vacancy and will be sorely missed.
During 2021 two lay members of the PCC sat on the deanery synod (whose purpose is to provide PCCs with an important link between parishes and the wider structures of the church).
Some ecumenical involvement has continued with Churches Together in Newark, though this was greatly reduced during the pandemic.
Achievements and performance
As well as Sunday worship services the churches have sought to provide a number of activities that reach out in one way or another to the wider communities. Owing to the coronavirus pandemic these activities had been severely restricted during much of 2020. In May 2021 the Community Café was able to restart on Mondays at St Mary Magdalene and has proved to be popular.
In July we reopened Coffee Bar at St Mary Magdalene with a new manager. It operated very successfully for several months, but for a variety of reasons as the year closed its continued operation was once again in some doubt.
In November we heard that a round 1 bid to the National Lottery Heritage Fund (NLHF) for muchneeded restoration work at St Mary Magdalene had been successful. Funding is therefore available to develop detailed plans for a round 2 bid in 2023 - if this bid is also successful then restoration work and associated activities can begin. At about the same time the diocese confirmed that central CoE funding is available for some re-ordering at St Mary Magdalene, together with children and youth worker appointments for the parish. It is worth noting that the focus of this work is mission, whereas the focus of the NLHF project is building restoration and heritage awareness.
In September the PCC established a Finance and Administration committee and its members have been heavily involved in the NLHF project.
page 7
Parochial Church Council of Newark St Mary Magdalene with St Leonard: Annual report and financial statements 2021
Investment policy
The short-term investment policy of the PCC is to invest restricted and unrestricted reserves in the CBF Church of England Deposit Fund. Endowment funds are held in the name of the Southwell & Nottingham Diocesan Board of Finance as custodial trustee. Endowment funds are invested primarily (but not exclusively) in the CBF Fixed Interest Securities Fund. This fund aims to maximise the income whilst maintaining the value of the investment. The fund managers’ investment policy meets the ethical standards of the Church of England.
Reserves policy
In respect of St Leonard there is no specific policy as unavoidable expenditure is low.
Given its age and size and listed status the PCC believes it prudent to try to maintain in respect of St Mary Magdalene a cash balance on reserves of £50,000 to cover contingencies.
In respect of the two residential properties owned by the PCC about £40,000 is nominally reserved in general funds to cover planned and emergency maintenance.
Commitment to major projects
Over the next two years the PCC has committed £50,000 from its eligible funds to each of the two major projects described above. This may impact the ability of the PCC to maintain its reserves policy.
page 8
PCC of Newark St Mary Magdalene with St Leonard: Annual Financial Statements 2021
Consolidated Statement of Financial Activities for the year ended 31 December 2021
| Notes Income and Endowments from: Donations and legacies 2 Charitable activities 3 Other trading activities 4 Investments 5 Total incoming resources Expenditure on: Raising funds 6 Charitable activities 7 Other 8 Total resources expended Net incoming resources/(resources expended) before transfers Transfers between funds Net incoming resources/(resources expended) Realised and unrealised gains / (losses) on investment assets Net movement in funds Fund balances 1 January 2021 Fund balances 31 December 2021 |
Unrestricted Restricted Endowment Total Funds Funds Funds 2021 £ £ £ £ 213,427 213,427 10,878 10,878 35,783 35,783 11,408 11,408 - 271,496 - 271,496 13,786 13,786 254,846 254,846 821 821 - 269,453 - 269,453 - 2,043 - 2,043 - - 2,043 - 2,043 758 (15,834) (15,076) - 2,801 (15,834) (13,033) - 428,520 413,203 841,722 - 431,321 397,368 828,689 |
Unrestricted Restricted Endowment Total Funds Funds Funds 2020 £ £ £ £ - 194,703 194,703 1,816 1,816 18,155 18,155 - 13,616 13,616 |
|---|---|---|
| - 228,290 - 228,290 |
||
| 6,577 6,577 253,077 253,077 - 6,953 6,953 |
||
| - 266,607 - 266,607 |
||
| - (38,317) - (38,317) - |
||
| - (38,317) - (38,317) 361 15,731 16,092 |
||
| - (37,956) 15,731 (22,225) - 466,476 397,472 863,948 |
||
| - 428,520 413,203 841,723 |
page 9
PCC of Newark St Mary Magdalene with St Leonard: Annual Financial Statements 2021
Consolidated Balance Sheet as at 31 December 2021
| Notes Fixed assets Tangible assets 11 Investments 12 Current assets Debtors 13 Other current assets Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year Net assets Funds: Unrestricted funds General funds Endowment funds Restricted income funds Total funds |
Unrestricted Restricted Endowment Total Funds Funds Funds 2021 £ £ £ £ 213,227 213,227 13,419 397,368 410,787 - 226,646 397,368 624,014 14,064 14,064 3,553 3,553 200,726 200,726 - 218,343 - 218,343 (12,902) (12,902) - 205,441 - 205,441 - 432,087 397,368 829,455 (767) (767) - 431,321 397,368 828,690 - - 397,368 397,368 - 397,368 397,368 431,321 431,321 - 431,321 397,368 828,689 |
Unrestricted Restricted Endowment Total Funds Funds Funds 2020 £ £ £ £ 213,887 213,887 12,662 413,202 425,864 |
|---|---|---|
| - 226,549 413,202 639,751 |
||
| 49,860 49,860 3,654 3,654 160,357 160,357 |
||
| - 213,871 - 213,871 (11,394) (11,394) |
||
| - 202,477 - 202,477 |
||
| - 429,027 413,202 842,229 (507) (507) |
||
| - 428,520 413,202 841,722 |
||
| - - 413,202 413,202 |
||
| - 413,202 413,202 428,520 428,520 |
||
| - 428,520 413,202 841,723 |
These financial statements were approved by the Parochial Church Council on
12 May 2022 and signed on its behalf by Revd Chris Lion (Rector and chairman)
page 10
PCC of Newark St Mary Magdalene with St Leonard: Annual Financial Statements 2021
Notes forming part of the financial statements for the year ended 31 December 2021
1 Accounting policies
a Basis of preparation
The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the Charities Statement of Recommended Practice (SORP) (FRS102) effective January 2015.
They have been prepared under the historical cost convention, except for the valuation of investment assets, which are included at market value.
Subject to any exceptions noted below, the financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the financial statements of church groups that owe their main affiliation to another body (e.g. Mothers Union), nor those that are informal gatherings of church members.
b Fund accounting
General funds are unrestricted funds of the PCC that are not subject to 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.
Restricted funds represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms or bequest or (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.
Endowment funds are funds where the capital must be retained; 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.
page 11
PCC of Newark St Mary Magdalene with St Leonard: Annual Financial Statements 2021
Notes forming part of the financial statements for the year ended 31 December 2021 (continued)
1 Accounting policies continued
c Incoming resources
All incoming resources are accounted for gross
Voluntary income and capital sources
Collections are recognised when received by or on behalf of the PCC. Planned giving receivable, whether under Gift Aid scheme or not, is recognised when it is received.
Tax recovered on Gift Aid donations is recognised in the same accounting year as the donation is recognised.
Grants and legacies to the PCC are accounted for as soon as
the PCC is notified of its legal entitlement; the amount due is quantifiable; and its ultimate receipt by the PCC is reasonably certain.
Funds raised by fetes, garden parties and similar events are accounted for gross.
Sales of books and magazines from a church bookstall are accounted for gross.
Other income
Rental income is recognised when the rental is due.
Income from investments
Dividends are accounted for when due and payable, and interest entitlements are accounted for as they accrue.
Tax recoverable on such income is recognised in the same accounting year.
Gains and losses on investments
Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at 31 December.
page 12
PCC of Newark St Mary Magdalene with St Leonard: Annual Financial Statements 2021
Notes forming part of the financial statements for the year ended 31 December 2021 (continued)
1 Accounting policies continued
d Resources used
Grants
Grants and donations are accounted for when paid over or awarded, if that award creates a binding obligation to the PCC.
Activities directly relating to the work of the Church
The diocesan parish share is accounted for when due. Any parish share unpaid at 31 December is provided for In these financial statements as an operational (though not a legal) liability and is shown as a creditor in the balance sheet.
e Tangible fixed assets
Consecrated property and moveable church furnishings
Consecrated and beneficed property of any kind is excluded from the financial statements by the Charities Act 2011 s.10 (2)(a)
Moveable church furnishings held by the rector and churchwardens on special trust for the PCC and which require a faculty for disposal are accounted for as inalienable property unless consecrated. They are listed in the church inventory, which can be inspected at any reasonable time upon application to the churchwardens. For inalienable property acquired before 1 January 2006 there is insufficient cost information readily available and therefore such assets are not valued in the financial statements.
Inalienable property acquired since 1 January 2006 is capitalised and depreciated in the financial statements over its current anticipated useful economic life (usually 25 years) on a straight-line basis. All expenditure incurred in the year on consecrated or beneficed buildings, individual items under £2,000 or on the repair of movable church fittings acquired before 1 January 2006 is written off.
Other fixtures, fittings and office equipment
Equipment used within the church premises is depreciated on a straight-line basis over four years.
Individual items with a purchase price of £2,000 or less are written off when the asset is acquired.
f Investments
Investments are stated at market value at the balance sheet date.
page 13
PCC of Newark St Mary Magdalene with St Leonard: Annual Financial Statements 2021
Notes forming part of the financial statements for the year ended 31 December 2021 (continued)
1 Accounting policies continued
g Current assets
Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less the provision for amounts that may prove uncollectable.
Short term deposits include cash held on deposit either with the Central Board of Finance Church of England Funds or at the bank.
| 2 Income from donations and legacies Restricted: St Mary Magdalene St Leonard 3 Income from charitable activities Restricted: St Mary Magdalene St Leonard 4 Income from other trading activities Restricted: St Mary Magdelene St Leonard 5 Income from investments Restricted: St Mary Magdalene St Leonard |
2021 2020 £ £ 207,158 189,425 6,269 5,278 |
|---|---|
| 213,427 194,703 |
|
| 10,878 1,513 - 303 |
|
| 10,878 1,816 |
|
| 35,783 18,155 - - |
|
| 35,783 18,155 |
|
| 8,298 10,802 3,110 2,814 |
|
| 11,408 13,616 |
page 14
PCC of Newark St Mary Magdalene with St Leonard: Annual Financial Statements 2021
Notes forming part of the financial statements for the year ended 31 December 2021 (continued)
| 6 Expenditure on raising funds Restricted: St Mary Magdalene St Leonard 7 Charitable activities (expenditure) Restricted: St Mary Magdalene St Leonard 8 Other expenditure Restricted: St Mary Magdalene St Leonard |
2021 2020 £ £ 13,741 6,543 45 34 |
|---|---|
| 13,786 6,577 |
|
| 246,455 241,973 8,391 11,104 |
|
| 254,846 253,077 |
|
| 821 5,718 - 1,235 |
|
| 821 6,953 |
9 Trustees' remuneration
No trustee either received or waived any emoluments during the year or during the preceding year.
10 Employment costs
The PCC employed at St Mary Magdalene in 2020 a director of music, an assistant organist, a head verger, and from July 2021 a coffee bar administrator. The PCC also employed in 2021 a parish administrator. The total employment cost during 2021 (including national insurance and pension contributions) was £77,088 (2020 £80,111).
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PCC of Newark St Mary Magdalene with St Leonard: Annual Financial Statements 2021
Notes forming part of the financial statements for the year ended 31 December 2021 (continued)
11 Tangible fixed assets
| Freehold land and buildings £ Cost At 1 January 2021 195,000 Additions - Disposals At 31 December 2021 195,000 Depreciation At 1 January 2021 - Charge for the year - At 31 December 2021 - Net book value At 31 December 2021 195,000 At 31 December 2020 195,000 12 Fixed asset investments Market value 31 December 13 Debtors Prepayments and accrued income Tax recoverable and fees 14 Creditors: amounts falling due within one year Accruals and deferred income Trade creditors Other creditors including tax and NI 15 Creditors: amounts falling due after more than one year Provision for liabilities and charges |
Freehold land and buildings £ 195,000 - |
Office Total equipment £ £ 26,467 221,467 - - - - |
|---|---|---|
| 195,000 | 26,467 221,467 |
|
| - - |
7,580 7,580 660 660 |
|
| - | 8,240 8,240 |
|
| 195,000 | 18,227 213,227 |
|
| 195,000 | 18,887 213,887 |
|
| 2021 2020 £ £ 410,787 425,864 |
||
| 4,118 43,044 9,946 6,816 |
||
| 14,064 49,860 |
||
| 4,333 2,267 6,372 3,812 2,197 5,315 |
||
| 12,902 11,394 |
||
| 767 507 |
page 16
PCC of Newark St Mary Magdalene with St Leonard: Annual Financial Statements 2021
Notes forming part of the financial statements for the year ended 31 December 2021 (continued)
16 Fund movements
| Fund movements | ||||||
|---|---|---|---|---|---|---|
| Opening | Gains and | Closing | ||||
| balance | Income | Expense | Transfers | (losses) | balance | |
| Fund name | £ | £ | £ | £ | £ | £ |
| Funds specific to St Mary Magdalene | ||||||
| NLHF | - | (1,000) | (1,000) | |||
| Diocesan Grant | 1,667 | 20,109 | (20,109) | (1,256) | 411 | |
| SDU (Reordering) | - | (492) | (492) | |||
| Newark schools | 56 | 56 | ||||
| General funds | 20,839 | 120,167 | (86,785) | (9,923) | 44,298 | |
| Unrestricted Endowments | 44,099 | (2,930) | 41,169 | |||
| Property owned by PCC | 195,000 | 195,000 | ||||
| Property rent and management | 47,957 | 12,182 | (3,762) | 56,377 | ||
| Christmas Tree Festival | - | 11,708 | (2,349) | (9,358) | - | |
| Fabric | 202,295 | 16,404 | (58,432) | 28,312 | (12,453) | 176,126 |
| Major Repairs & Alterations | 851 | 851 | ||||
| Christmas CD | (57) | 105 | (101) | (53) | ||
| Chimes/Belfry | 11,561 | (4,900) | 6,661 | |||
| Vergers and other lay staff | 15,027 | 10,867 | (23,006) | (131) | 2,757 | |
| Organist | 13,706 | 30,654 | (34,223) | (414) | 9,723 | |
| Music and Choir | 49,479 | 10,158 | (10,144) | (800) | 48,693 | |
| St. George's Chapel | 5,991 | 67 | 325 | 6,383 | ||
| St. George's Chapel Fowers | 769 | 4 | (12) | 762 | ||
| Lay Education | 15,471 | 183 | (491) | 15,163 | ||
| Bishop White Library | 8,205 | (90) | 8,115 | |||
| External floodlighting | 173 | 600 | (424) | 349 | ||
| Organ | - | 11,096 | (7,849) | 2,000 | 5,247 | |
| Assistant Clergy | 1,176 | 28 | (76) | 1,129 | ||
| Charity | 436 | 436 | ||||
| Church of England Charity | 6,946 | 160 | 773 | 7,879 | ||
| Chancel Repairs | 1,578 | (36) | 1,542 | |||
| St Augustine's | 60,322 | (4,008) | 56,314 | |||
| Funeral and Wedding fees | - | 7,235 | (7,235) | - | ||
| Music for market | 2,000 | 2,070 | (1,531) | (2,539) | - | |
| Flowers | - | 367 | (209) | 158 | ||
| Hospitality | 441 | (336) | 104 | |||
| Magnus scholarship 19/20 | - | 3,496 | (3,595) | (98) | ||
| Magnus scholarship 20/21 | 98 | 3,667 | (1,678) | 2,087 | ||
| Youth work | 570 | (2) | 568 | |||
| Roof Repairs | 16,759 | 793 | 17,552 | |||
| Sub total | 723,416 | 262,118 | (261,017) | - | (20,252) | 704,267 |
page 17
PCC of Newark St Mary Magdalene with St Leonard: Annual Financial Statements 2021
Notes forming part of the financial statements for the year ended 31 December 2021 (continued)
16 Fund movements (continued)
| Opening | Gains and | Closing | ||||
|---|---|---|---|---|---|---|
| balance | Income | Expense | Transfers | (losses) | balance | |
| Fund name | £ | £ | £ | £ | £ | £ |
| Funds specific to | St Leonard | |||||
| Welfare (Mountney) | 449 | (30) | 419 | |||
| Newton | 1,855 | 263 | 2,119 | |||
| Adcock | 3,647 | 522 | 4,169 | |||
| Fabric Fund | 20,883 | 2,540 | (1,867) | 21,556 | ||
| Ferrier Trust | 47,407 | 6,782 | 54,189 | |||
| St Leonard Newbald | 35,575 | (2,364) | 33,211 | |||
| General funds | 8,490 | 6,839 | (6,569) | 8,760 | ||
| 118,306 | 9,379 | (8,436) | - | 5,173 | 124,422 | |
| Total | 841,722 | 271,496 | (269,453) | - | (15,078) | 828,689 |
page 18
Parochlal Church Council of Newark St Mary Magdalene wlth St Leonard: Annual Financial Statements 2021 Independent examinerfs report to the Trustees of the Parochial Church Council I report to the trustees on my examination of the accounts of the Parochial Church Council for the year ended 31 December 2021, which are set out on pages 9 to 18 Responslbllltles and basis of the report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requlrements of the Charities Act 20111'the Act'l. I report in respect of my examination of the Trustee's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions giver) by the Charity Commission under section 14515llbl of the 2011 Act. Independent examinerfs ststement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination 8ivin8 me cause to believe that in any material respect: accountlng records were not kept in respect of the Trust 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 applicable requirements concerning the form and content of accounts set out in the Charities IAccounts 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 acros5 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 reathed. Signed: Name.. Michelle Katie Allen FCA, CTA Chartered Account and Tax Advisor Address.. Office 11, Navigation Business Centre Mill Gate Newark Nottin8hamshire NG24 4TS Date: S May 2022 page 19