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2022-12-31-accounts

The Parochial Church Council of The Ecclesiastical Parish of Oadby

Registered charity number: 1132456

Annual Report and Financial Statements of the Parochial Church Council Year Ended 31 December 2022

Minister

Reverend Jonathan Tearne

Parish Office St Peter's Centre Wigston Road Oadby LE2 5QE

Bankers

CAF Bank 25 Kings Hill Avenue, Kings Hill West Malling. ME19 4JQ

Independent Examiners

Wyatt & Co. 125 Main Street Garforth Leeds LS25 1AF

St Peter’s Oadby Annual Report Year Ending 31 December 2022

The trustees present their report and financial statements for the charity year ending 31 December 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual reports and financial statements of the Charity.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014 (as amended by Update Bulletin 1 published on 2 February 2016).

Administrative information

The Parish of St Peter is situated in the centre of Oadby, Leicester and is part of the Oadby Great Glen Team Ministry. Under the resourcing church project it is partnered with St John’s, Clarendon Park where Jon Tearne and a few other team members have been sent to provide day to day leadership.

It is part of the Diocese of Leicester within the Church of England. The correspondence address is: St. Peter’s Centre, Wigston Road, Oadby, Leicester LE2 5QE

Incumbent: Revd. Steve Bailey (Team Rector) Curates: Revd. Jonathan Tearne (Minister in charge of St Peter’s) Wardens: Martin Ward, Angela Pitches (Elected 8/5/22), Don Smith (resigned 8/5/22) Deanery Synod Members: Don Smith, Philip Coomes (from 8/5/22), Jonathan Cryer (resigned 8/5/22), Marylyn Chamberlain (until 8/5/22)

Parochial Church Council (PCC) Members 2022/23

Designation Term of Office
Ex-officio members
Revd Steve Bailey Team Rector Ex-officio
Revd Jonathan Tearne Curate(Minister in charge of St Peter’s) Ex-officio
Martin Ward Churchwarden Ex–officio
Angela Pitches Churchwarden(Elected 8/5/22) Ex-officio
Don Smith Churchwarden(Resigned 8/5/22) Ex-officio
Elected Members (Must be on the Electoral Roll of Parish to be eligible for election)
1.
PhilipCoomes		 DeanerySynod(elected 8/5/22) 2022-2023
2.
Don Smith		 DeanerySynod 2020-2023
3.
Jacqueline Knight		 Elected 2022-2025
4.
Sian Davies		 Elected 2021-2024
5.
Patricia Ellson		 Elected 2021-2024
6.
Rita Shrigley		 Elected 2022-2025
7.
Jonathan Stocker		 Elected 2022-2024
8.
Valerie Barba		 Elected 2022-2024
9.
Christine Broad		 Elected 2021-2023
10. Vera Davison Elected 2022-2025
11. Lynda Gibbs Elected 2022-2025
12. Robert Morris Elected 2022-2023
13. Diane Purves Elected
13. Marylyn Chamberlain DeanerySynod(until 8/5/22) 2020-2022
14. Angela Pitches Elected(resigned 8/5/22) 2020-2022

St Peter’s Oadby Annual Report Year Ending 31 December 2022

PCC Officers

The following officers of the PCC have been elected: Chair: Rev Jon Tearne Vice Chair: Jonathan Cryer (until 8/5/22) Vice Chair: Don Smith (from 23/5/22) Secretary: Sian Davies Treasurer: David Witt (until 8/5/22) Acting Treasurer (not part of the PCC): James Banks (from 23/5/22)

Structure, Governance and Management

The PCC is a body corporate (Church Representation Rules 2020) and a charity registered with the charity commission (reg. Charity no.1132456). The method of appointment of PCC members is set out in the Church Representation Rules. All those who attend our services / members of the congregation are encouraged to register on the Electoral Roll and stand for election to the PCC.

The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent. New members receive initial training into the workings of the PCC.

The full PCC met eight times during the year and was fully quorate at each meeting.

The Standing Committee is a legally constituted sub-committee of the PCC, and met seven times during the year. It meets between full PCC meetings and serves the PCC by preparing agendas and conducting urgent business which cannot wait for the next full meeting. It may also prepare briefings for the PCC to inform their discussions.

At the PCC meeting on 23 May 2022 the following members were elected to the standing committee: Rev J Tearne, Mrs S Davies, Mrs P Ellson, Mr D Smith, Mr M Ward, Mrs A Pitches

Risk Management and Review

The PCC recognises its responsibility for identifying and managing risks within the organisation. A working party of PCC members has identified, collated and scored risks for the PCC to manage and action as necessary.

St Peter’s Oadby Annual Report Year Ending 31 December 2022

Safeguarding

The PCC of St Peter’s Oadby are committed to the safeguarding of young people and vulnerable adults.

In accordance with the Church of England policy, we have written and implemented a safeguarding policy and procedures based on ‘Promoting a Safer Church’. This was last reviewed by the PCC on 23/05/2022. A copy of the safeguarding policy can be produced on request.

Safeguarding is everyone’s responsibility but it is the duty of the Incumbent, Parish Safeguarding Officer and the PCC to ensure that the policies and procedures are being followed and reviewed on at least an annual basis. Safeguarding is a standing item on every PCC agenda.

The day to day responsibility for safeguarding within St Peter’s is delegated to the following officers:

Our local Safeguarding contacts are: Minister – Revd Jon Tearne: jtearne@stpetersoadby.org.uk Parish Safeguarding Officer – Juliet Bewley – office@stpetersoadby.org.uk

Aims and Purposes

The PCC of St Peter’s is responsible for cooperating with the Incumbent to promote the ecclesiastical parish and the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The PCC is responsible for the maintenance and management of the church building, although the building is not owned by the PCC, but the Diocese of Leicester. The use of the building is gifted to the PCC by the Diocese.

The PCC owns and is responsible for the maintenance and management of the St Peter’s Centre and the Old Rectory, 1 Leicester Road.

The PCC is committed to enabling as many people as possible to worship at our church and to become part of our church community at St Peter’s. The PCC maintains an overview of worship in the parish and makes suggestions on how our services can involve the many groups that live within our parish. Our services and worship put faith into practice through prayer and scripture, music and sacrament.

Public Benefit Statement

In setting our objectives and planning our activities for the year, the trustees have considered the Commission’s guidance on public benefit and, in particular, the supplementary guidance on charities for the advancement of religion.

In particular, we seek to enable ordinary people to live out their faith as part of our parish community through:

To facilitate this work it is important that we maintain the fabric of the Church of St. Peter’s and the St Peter’s Centre.

St Peter’s Oadby Annual Report Year Ending 31 December 2022

Review of the Year – Jon Tearne

2022 was a year of building on some of the patterns put in place throughout 2021, as we emerged from the pandemic and sought to approach church life afresh. Throughout the year there were numerous moments of reconnecting with old partnerships, beginning new things, whilst continuing to navigate the ambiguity of the times.

Worship

By the end of 2021 we had returned to having a weekly 10am HC service, a fortnightly 8am BCP service, a monthly evensong, and a weekly midweek HC service. From early on in 2022 the 8am BCP service became a weekly event also. As we came to the some of the bigger services throughout the year, there was a sense of ‘returning to normal’, particularly with regard to much greater attendance at Easter, Christmas, All Souls and Remembrance Sunday. We also hosted the Framework Knitters for their annual service. We also had pulpit swaps across the benefice and during the Week of Prayer for Christian Unity along with numerous shared services including Good Friday at the Methodist church, the benefice carols in Burton Overy and a Tenebrae service at St Peter’s. Alongside the lectionary we had a number of sermon series including Tell me the truth about love on 1 Corinthians 13; Walking in the Steps of St Peter looking at discipleship in the life of St Peter; and a series on Jonah - the Prodigal Prophet. We also began a new midweek Praise and Prayer meeting with a more contemporary worship feel to dedicate space and time to praying for the ministry and mission of the church. The death of her majesty the Queen also figured heavily in our services in September as we mourned and celebrated the life of our late monarch.

Families & Children

In 2022, we continued to run Peter’s Place (Messy Church) and our monthly Family Service to increase our offering for families and young children at St Peter’s. At Easter time, in partnership with Churches Together in Oadby (CTO) we hosted the beginning of the donkey walk up to the Methodist church and also joined in with CTO for the Christmas lights switch on in November. We had a BBQ for families at the vicarage in the summer, as well as a BBQ for the wider church family after the 10am the following day. The Christingle Nativity and Crib services were particularly enjoyable and well attended. We reconnected with schools, having school visits from Launde Primary school at Easter and Brocks Hill at Christmas, as well as hosting Woodland Grange for their Christmas performance. Jon also took assemblies at Woodland Grange at Harvest and Christmas time.

Discipleship

Alongside the teaching series used on Sunday morning, we also studied the Bible midweek. We had a midweek discussion group that ran alongside our study of Jonah on Sundays, as well as reading through Hannah Steele’s Lent book, Living His Story. The annual retreat organised by Diane Purves was a great success, as were the day trips to the Arboretum and Worcester Cathedral . In preparation for a couple who were married in July Jon also ran a pre-marriage course. The Alpha course was also used for candidates coming for baptism including the first full immersion adult baptisms at St Peter’s alongside parents bringing children for baptism. In the Autumn we were also joined by Linda Harwood to do her ordinand training under Jon’s supervision. A small group also attended New Wine for the day in the summer and intend to return for the whole week in 2023. In the later part of the year we started to run a warm hub for those struggling with energy costs.

Operations

The operational life of the church developed significantly throughout 2022. James (Operations Director at St Johns) implemented the new ExpensePlus system for finances and began the process of moving our accountants over to a new company. The new system has enabled us to approach the process of budgeting with a greater degree of clarity to our finances. We appointed a new Operations

St Peter’s Oadby Annual Report Year Ending 31 December 2022

Administrator, Emma Jackson, in May, who has been significant in embedding the new finance system and has picked up a lot of the church communications, which had been taken on by Don Smith following the resignation of the previous administrator, Rachel Parsons, back at the beginning of 2021. Don also took a step back from the role of warden after serving faithfully for many years, and we appointed Angela Pitches in his place alongside Martin Ward. In the course of thee year Martin liaised with the local council to remove the tops of the cedar trees which have become a health and safety hazard and oversaw the transformation of the stumps into sculptures at the hand of the chainsaw artist, Peter Leadbeater. The sculptures have gained a great deal of attention from the local community alongside local BBC radio. The events team also did a great job in putting on a number of events throughout the year including celebrations for the Queens Jubilee, mulled wine at the Nine Lessons and Carols Service, and a very successful Christmas Fair. Special thanks for the Christmas Fair particularly going to Angela Pitches.

Property Report – Martin Ward

To enable the continued work of the church within the parish, the PCC maintain our three buildings – St. Peter’s Church – dating back to 14[th] C, St. Peter’s Centre – opened in 1929 and 1 Leicester Road, the former Rectory – built in the late 1950’s. All three present their own difficulties to enable them to function as we would wish.

St. Peter’s Church

St Peter’s is the Spiritual Home of both our regular congregation and the wider community, it is very much a Civic Church and we are committed to engage within this community as widely as we can with all of our resources. The church is open generally every day for private prayer and as an attraction for visitors being the oldest building in Oadby.

The main function of the church is clear to see and, enabled by the recently refurbished interior, allowing the worship of Jesus and the spiritual support and comfort this allows to everyone.

During this year, Oadby & Wigston Borough Council removed the 2 Cedar trees which had become a danger due to falling branches and which also continually blocked the gutters & drains causing further problems and work.

We were advised to retain the main trunks to a height of about 3 m to minimise the effects of ground heave. The trunks were then turned into pieces of artwork by a chainsaw artist – Peter Leadbeater. He has created on one trunk, a pair of praying hands indicating our church praying for the community and on the other a dove, a cockerel, a net of fishes, a lamb and a donkey. All animals associated with the life of Jesus. These have been very well received by the community and were paid for mainly out of donations.

We have continued to upgrade the sound desk and AV systems to enable Don Smith and Bobby Morris to record and live stream where appropriate the services from our church. We are indebted to James Banks from St. John’s Clarendon Park Road for his help in advising and installing much of this equipment.

St. Peter’s Centre.

As there is no longer a village hall, the Centre is available to be used by the community for many different uses. Our own youth organisations – Scouts, Cubs, Guides, Beavers, Rainbows, Brownies and Rangers use the premises in the evenings along with Dance classes, St. John’s Ambulance and others.

St Peter’s Oadby Annual Report Year Ending 31 December 2022

During the day, we are fortunate that different specialities of the NHS hold community clinics in the main hall whilst the ground floor suite, Age Concern hold 2 all day classes for different groups.

The income from these groups is essential to maintain the building, continue its presence and help support our church in its main mission in Oadby – to proclaim & spread the Gospel of Jesus.

Our own ‘Tuesday Teas’ under the guidance of Diane Purves, continue to operate as a social gathering and we also have a ‘warm space’ available for those who need a hot drink and company in these difficult times.

St. Peter’s Parish office is also within SPC where Emma Jackson, our ‘new’ Parish Administrator facilitates much of our Parish life & work. We are extremely grateful to Emma for the cheerful way she carries out her exacting and wide ranging duties.

1 Leicester Road

The former Rectory is still being leased to a local company who rent the rooms out individually. This ensures a regular income to us which goes towards church funds and the upkeep of the building - which this year included work to the main roof and replacing the gutters, fascias and downpipes.

We continue to maintain these 3 buildings under challenging conditions as we no longer have a property team to spread the work load. Fortunately I am assisted by Mrs Pat Ellson and our excellent Premises Officer – Phil Martin. Without Phil’s hard work in maintaining the day to day operation of St. Peter’s Centre , the continued work and necessary income generated there, would be severely restricted.

Gartree Deanery Synod Report 2022 – Don Smith

Gartree Deanery Synod brings together churches to the South and East of Leicester – and reaches as far as Market Harborough. We meet three times a year, usually in Kibworth.

Tea/coffee and biscuits are usually served as we gather together and the meeting starts with a short time of worship. The main focus for each meeting is a presentation usually with the chance to ask questions of the speaker.

The formal business of the meeting follows a short comfort break. In addition to our own Deanery Synod minutes and finance report, we hear about General Synod, Diocesan Synod, the Diocesan Board of Finance and Education Committees and other meetings. This provides a fascinating insight into the operation of the Diocese and the wider Anglican church.

The first meeting in 2022 was in February. The main presentation was from Adrian Trotter, lay director of Leicester Anglican Cursillo. This originated in Spain. Through weekend and other courses and cell groups, it aims to empower lay people to take leadership roles in the church.

The meeting in June was addressed by Emily Williams, Diocesan Disability Adviser. She showed us how to address issues with our buildings (and our attitudes) which can be challenging for those with disabilities – including those like hearing loss and dyslexia which may not be visible.

The final meeting of 2022 was in late September and featured the work of the Diocesan Generous Giving Team, represented by Phil Leech. Lockdowns have increased the movement away from cash in society, so relying on this can be problematic. He highlighted the non-traditional ways in which a church can attract contributions, through websites, credit and debit cards (including contactless) bequests and other donations.

St Peter’s Oadby Annual Report Year Ending 31 December 2022

There are three lay representatives from St Peter’s on Deanery Synod – and all three places are up for election this year. If elected, you also get a place on St Peter’s PCC. Speak to Philip Coomes or myself for more information.

Church attendance

At the date of the APCM in 2022 there were 122 persons on the Electoral Roll. 4 people have been removed and 8 people added bringing the total to 126.

The analysis of the general attendance and participation in the life of the church was:

Finance Report – James Banks

As previously mentioned by Jon is his report, during the course of 2022 we have undertaken a number of changes to the financial systems and processes within St Peters. Primarily this was to allow for better management of finances, so that at any given time we understand our financial position accurately. This positions us for investing our finances in the growing the church and seeing the Kingdom of God come in Oadby, as well as maintain the activities of the church and maintain the church buildings. We now present monthly management reports to the PCC of the church finances against the budget which is set on an annual basis by the PCC.

Throughout the year we have also reviewed a number of systems & processes related to finance, and we have conducted a thorough review of all our expenditure to ensure that we receive the best value for money. This has led to us changing our payroll provider, implementing new Barclaycards for several staff & wardens and changing our independent examiners from The Rowley’s Partnership to Wyatt & Co, plus much more.

2022 was another very good year for St Peter’s financially and we ended the year with an overall surplus of just over £13k. When looking at the statement of financial activities you will see that in un-restricted funds the surplus was just under £13k and in restricted funds there was a small surplus of just under £500. It is important to note that during the year due to paying the ‘retention’ money on the walls project, the balance of the Church Maintenance fund was reduced (see note 15d). The fund balance went down because we spent restricted donations that have been given in a prior year. This was planned for and the balance is still very healthy allowing for any future expected and un-expected maintenance that a historic building can bring.

During the year we have reviewed the restricted funds and this year include a description for the use of each of them, within the accounts. Where restrictions allows we have tried to spend from restricted funds to ensure they are used for the purpose they have been given and not allowed to sit indefinitely. We have also used the balance in the Friends of St Peter’s fund to contribute towards the tree carvings, and spent the nominal balance within the Youth Club Fund. These two funds will be closed at the start of 2023. We continue to review the restricted funds we have to ensure they are invested and used appropriately to further the mission and aims of the church.

As part of this review it was also decided that given the nature of the funds given to the Sunday School Fund, this should become restricted. Therefore the opening balance was transferred to a new restricted fund during the year and all income and expenditure was allocated to the new fund.

St Peter’s Oadby Annual Report Year Ending 31 December 2022

We also were required to make a slight adjustment to the funds holding the value of the two properties we own – The Old Rectory and the St Peter’s Centre. This is so that the original purchase cost is shown in a one fund, and the amount that the property has appreciated by, is shown in a separate fund – called a revaluation reserve.

I would like to take this opportunity to thank & recognise Mick Dunn and David Witt, previous treasurers of St Peter’s for all they have done in helping me take on the finances of St Peter’s. I would also like to thank Chris Billson, Martin Ward & Emma Jackson who are part of the finance team and without whom the finances could not run. Finally a thank you to the team at Rowley’s accountants who have served St Peter’s over the last few years.

As we look ahead into 2023, whilst there are challenges around increasing costs (especially with utilities) we have been able to set a budget that generates a small surplus.

Following this trustees report you will find the annual accounts and financial statements for the year ending 31 December 2022. As this is the first year we have prepared the accounts ourselves (rather than being prepared externally) the layout has slightly changed, but all of the same statutory information is included.

Reserves Policy

It is not the intention of the PCC to hold large amounts of reserves for Investment purposes, it believes the church resources should be used for the work of God’s kingdom as they are provided to us. However it is recognised that it is prudent to keep some general reserves in to cover primary operational costs in the event of an unforeseen reduction in income or increase in expenditure. It is the policy of the PCC to hold reserves equivalent to three months core operating costs (gross salaries and essential operating costs) at any one time.

St Peter’s Oadby Annual Report Year Ending 31 December 2022

Statement of Trustees Responsibilities

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed

Rev Jon Tearne Chair

Martin Ward Warden

Angela Pitches Warden

The Parochial Church Council of The Ecclesiastical Parish of Oadby

Year Ended 31st December 2022

I report to the trustees on my examination of the financial statements of The Parochial Church Council of the Ecclesiastical Parish of Oadby ('the charity') for the year ended 31st December 2022.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Nigel Wyatt BSC FCA

Date: 15/05/2023

Independent Examiner 125 Main Street Garforth Leeds LS25 1AF

St Peter's Oadby Annual Report Year ended 31 December 2022

STATEMENT OF FINANCIAL ACTIVITES

notes
INCOME from:
Voluntary
2a
Charitable Activities
2b
Other Trading Activities
2c
Investments
2d
Other
2e
TOTAL
EXPENDITURE on:
Charitable Expenditure
Mission and Ministry
3a
Property, Management and Admin
3b
TOTAL
NET INCOME (EXPENDITURE)
Transfers between funds
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
13
Total funds carried forward		 Restricted
Funds
Endowment
Funds
Total
2022
2022
95,048
13,610
-
108,657
7,657
6,692
-
14,349
44,418
-
-
44,418
14,877
-
-
14,877
155
-
-
155
162,154
20,302
-
182,456
82,002
8,280
-
90,282
67,392
11,587
-
78,979
149,394
19,867
-
169,261
12,760
434
-
13,195
(12,633)
12,633
-
-
127
13,067
-
13,195
750,202
124,522
2,199
876,923
750,329
137,589
2,199
890,118
2022
2022
Un
Restricted
Funds		 Restricted
Funds
Endowment
Funds
Total
2021
2021
99,280
32,012
-
131,292
7,948
-
-
7,948
24,936
-
-
24,936
7,226
-
-
7,226
87
-
-
87
2021
Un
Restricted
Funds
2021
139,477
32,012
-
171,489
48,655
-
-
48,655
47,302
49,701
-
97,003
95,957
49,701
-
145,658
43,520
(17,689)
-
25,831
(4,946)
4,946
-
-
38,574
(12,743)
-
25,831
711,628
137,265
2,199
851,092
750,202
124,522
2,199
876,923

St Peter's Oadby Annual Report Year ended 31 December 2022

BALANCE SHEET AT 31 DECEMBER 2021
notes
FIXED ASSETS:
Tangible assets
6
Investment Property
7
CURRENT ASSETS:
Debtors
9
Cash at bank and in hand
LIABILITIES:
Creditors: Amounts falling due within one year
10
Net current assets
Total assets less current liabilities
Creditors: Amounts falling due after more than one year
TOTAL NET ASSETS OR LIABILITIES
8
THE FUNDS OF THE CHARITY:
Endowment Funds
15c
Restricted funds
15m
Unrestricted funds
15w
Unrestricted - Revaluation Reserve
15z
TOTAL FUNDS
15aa		 2022
notes
252,186
6
400,000
n/a
8,893
9
237,369
246,262
(8,331)
10
237,932
890,118
-
890,118
8
2,199
16c
137,590
16l
430,329
16z
320,000
n/a
890,118		 2021
651,991
-
12,525
219,932
232,457
(7,525)
224,932
876,923
-
876,923
2,199
124,522
750,202
-
876,923

Approved by the Parochial Church Council on 20/03/2023 and signed on its behalf by :

Revd Jonathan Tearne James Banks Chairman Acting Treasurer

The notes 1 to 17 form part of these accounts.

St Peter's Oadby Annual Report Year ended 31 December 2022

NOTES TO THE FINANCIAL STATEMENTS

1 ACCOUNTING POLICIES

St Peter's Oadby is an unincorporated charity registered in England and Wales. The address of the charity is given in the charity information on page 1 of these financial statements.

The financial statements have been prepared in accordance with the Church Accounting Regulations 2006.

The charity is a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of ireland (FRS102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.

The financial statements have been prepared as a going conern under the historical cost convention except for the valuation on investment assets where appropriate, which are shown at market value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

As a charity with an income less than £500,000 we have made use of the exemption under the Charities SORP and not prepared a statement of cash flows.

Funds

General funds represent the funds of the PCC that are not subject to any restriction regarding their particular 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.

Funds received that are subject to a restriction are held in a separate fund and used only for that purpose. Where monies given for a restricted capital purpose are expended, the asset is no longer viewed as restricted and an appropriate transfer is made to the General Fund. This includes the payment of any related mortgage liability.

The accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of church members.

Incoming Resources

Voluntary income

Donations are recognised when received by or on behalf of the PCC or in the case of pledged donations when the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is probable. Income tax recoverable on Gift Aid donations is recognised when the income 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 probable.

Charitable Activites

Income from activities run by the church is recognised when it is due.

Other Trading Activities

Rental income from the letting of church premises is recognised when the rental is due.

Investment Income

Interest is accounted for as it accrues. Rental income from investment property is recognised when the rental is due.

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 in each year.

St Peter's Oadby Annual Report Year ended 31 December 2022

NOTES TO THE FINANCIAL STATEMENTS

1 ACCOUNTING POLICIES (continued)

Resources used

Grants

Grants and donations are accounted for when paid, or when awarded if that award creates a binding obligation on the PCC.

Allocation of Costs

Costs have been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Note that in 2022 some of the categories have been revised to more accurately reflect the church's current activities.

Taxation

The PCC is exempted from tax under s.505 ICTA 1988, as a registered charity (reference 1132456).

Fixed assets

Consecrated land and buildings and movable church furnishings

The value of these assets is excluded from the accounts by virtue of s.96(2)(a) of the Charities Act 2011. Any expenditure, whether maintenance or improvement, is written off to revenue in the year it arises.

Freehold Property Church Halls

On transition to FRS (102) the charity took advantage of the option to change their accounting policy in relation to the ‘Church Halls’.

This is now being held at fair value with revaluation movements held in the reserves of the charity.

Freehold Investment Property

Freehold Investment Property is being held at fair value.

Equipment

Expenditure below £500 per item is written off in the year of acquisition. Computer equipment and other equipment is depreciated over 4 years on a straight line basis.

Current assets

All amounts owing to the PCC at 31 December are shown as debtors, less a provision for any amounts that may prove uncollectable.

Provisions for liabilities are shown where an essential future cost is estimated at the year end.

Pension costs

The PCC as 'Employer' has an auto enrolment pension scheme with the Peoples Pension. All qualifying employees are automatically enrolled on the scheme and non-qualifying employees offered to enrol, at the start of their employment. Contributions are made by both employer and employee into the scheme according to their staff contract. Employers continuing responsibility and duties will be undertaken. The PCC is not a trustee of any scheme. All contributions are charged in the year in which they are incurred.

Donated goods, facilities and services, including volunteers

Income raised from donated gifts for resale is recognised at the point of sale where the value of the donation is considered not material in the context of total annual income and/or where the estimated resale value cannot be determined.

The organisation relies on the contribution of many unpaid general volunteers to carry out activities. In the absence of a reliable basis for measurement, this contribution is not accounted for in monetary terms.

Going Concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of

income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to contine as a going conern.

St Peter's Oadby Annual Report

Year ended 31 December 2022

NOTES TO THE FINANCIAL STATEMENTS (continued)

2
INCOME
2a Voluntary
Regular Donations
One Off Gifts
Collection Plate
Legacies
Gift Aid
Grants
LPW Grant
Job Retention Scheme
2b Charitable Activities
Trips
0-18 Ministries
Church Fees
Magazine
2c Other Trading Activities
St Peter's Centre Hire
Fundraising Events
2d Investments
Bank Interest
Old Rectory Rent
2e Other
Printing Charges
Other
TOTAL		 Unrestricted
Funds
Restricted
Funds
Endowment
Funds
TOTAL
FUNDS 2022
Unrestricted
Funds
Restricted
Funds
Endowment
Funds
TOTAL
FUNDS 2021
£
£
£
£
£
£
£
£
62,279
720
-
62,999
71,263
-
-
71,263
6,041
5,958
-
11,999
8,648
32,012
-
40,660
8,218
-
-
8,218
2,981
-
-
2,981
2,000
-
-
2,000
-
-
-
-
16,442
1,782
-
18,224
11,257
-
-
11,257
-
4,054
-
4,054
-
-
-
-
68
1,096
-
1,164
-
-
-
-
-
-
-
-
5,131
-
-
5,131
95,048
13,610
-
108,657
99,280
32,012
-
131,292
4633
-
-
4,633
-
-
-
-
237.76
-
-
238
-
-
-
-
2,786
6,692
-
9,478
7,859
-
-
7,859
-
-
-
-
89
-
-
89
7,657
6,692
-
14,349
7,948
-
-
7,948
39,070
-
-
39,070
20,728
-
-
20,728
5,348
-
-
5,348
4,208
-
-
4,208
44,418
-
-
44,418
24,936
-
-
24,936
1,857
-
-
1,857
141
-
-
141
13,020
-
-
13,020
7,085
-
-
7,085
14,877
-
-
14,877
7,226
-
-
7,226
148
-
-
148
-
-
-
-
7
-
-
7
87
-
-
87
155
-
-
155
87
-
-
87
162,154
20,302
-
182,456
139,477
32,012
-
171,489

St Peter's Oadby Annual Report Year ended 31 December 2022

NOTES TO THE FINANCIAL STATEMENTS (continued)

EXPENDITURE
Charitable Activities
3a
Mission and Ministry
Mission Giving
Parish Share
Mission, Courses & Evangelism
0-18 Ministies
Church Events
Trips
Hospitality & Gifts
Church Services
Church Fees i.e. weddings
Ministerial Salaries and expenses
Staff Training
3b
Property, Management and Admin
Church Insurance, Utilities and Cleaning
Church Repairs & Renewals
Technical maint & Equipment
SPC Insurance, Utilities and Cleaning Products
SPC Repairs & Renewals
Support Staff Salaries & Expenses
Rectory Insurance
Rectory Repairs and Renewals
Office Expenses
Computer Software & Licence Fees
Professional Fees
Banks Charges and Card Fees
TOTAL		 Unrestricted
Funds
Restricted
Funds
TOTAL
FUNDS 2022
Unrestricted
Funds
Restricted
Funds
TOTAL
FUNDS 2021
£
£
£
£
£
£
8,859
1,185
10,044
3,303
-
3,303
50,000
-
50,000
30,000
-
30,000
188
-
188
52
-
52
-
403
403
432
-
432
913
-
913
1,493
-
1,493
4,759
-
4,759
-
-
440
-
440
-
-
-
957
-
957
599
-
599
2,073
6,692
8,765
-
-
-
13,759
-
13,759
12,776
-
12,776
54
-
54
-
-
-
82,002
8,280
90,282
48,655
-
48,655
6,629
-
6,629
8,597
-
8,597
6,060
11,358
17,418
2,540
49,701
52,241
1,317
229
1,546
459
-
459
8,027
-
8,027
8,244
-
8,244
3,476
-
3,476
3,384
-
3,384
26,052
-
26,052
12,117
-
12,117
607
-
607
598
-
598
7,195
-
7,195
2,466
-
2,466
4,232
-
4,232
4,652
-
4,652
1,889
-
1,889
-
-
-
1,732
-
1,732
4,245
-
4,245
176
-
176
-
-
-
67,392
11,587
78,979
47,302
49,701
97,003
149,394
19,867
169,262
95,957
49,701
145,658

St Peter's Oadby Annual Report Year ended 31 December 2022

NOTES TO THE FINANCIAL STATEMENTS (continued)

4 STAFF COSTS

Wages, salaries
Social Security costs
Employer Pension Contributions
TOTAL		 2022
£
32,750
-
1,657		 2021
£
22,503
-
1,902
34,408 24,405

In 2022, the PCC employed an average of 3 (2021: 2) members of staff. The full time equivalent employees were 1.5 (2021: 1.2) There were no employees who earned more than £60,000 including pension costs.

The PCC contributed to a defined contribution personal pension scheme for 3 employees (2021: 2).

5 REMUNERATION AND EXPENSES PAID TO TRUSTEES AND KEY MANAGEMENT PERSONNEL

No trustee was paid for their services as trustee. Expenses incurred wholly, exclusively and necessarily for the benefit of the organisation were reimbursed during 2022 to 8 trustees of £2,441.

Trustee indemnity was paid for on behalf of the trustees.

During 2022 two Trustees were paid for their services as a verger for weddings & funerals. These were Donald Smith and Robert Morris. The combined total of their payments in 2022 was £770

6 FIXED ASSETS FOR USE BY THE PCC

Cost/Valuation
At 1 January 2022
Additions
Disposals
At 31 December 2022
Depreciation
At 1 January 2022
Eliminated on Disposal
Depreciation for the year
At 31 December 2022
Net book value at 31 December 2022
Net book value at 31 December 2021		 Church hall
building
improvement
Equipment
Total
250,000
45,887
295,887
-
1,077
1,077
-
-
-
250,000
46,964
296,964
-
43,896
43,896
-
-
-
-
882
882
-
44,778
44,778
250,000
2,186
252,186
250,000
1,991
251,991

The St Peter's Centre is valued at £250,000, the historic purchase cost is unknown.

The above property was professionally valued on 30 May 2019 by Knightsbridge Estate Agents and Valuers Ltd on an open market value basis.

The Trustees consider that the valuation of freehold land and buildings is not materially different from the figures given above, and is therefore stated at its fair value.

7 INVESTMENT PROPERTY

Valuation
At 1 Janaury 2022
Unrealised gain / (loss)
At 31 December 2022		 £
400,000
-
400,000

Following a review during the year, the Old Rectory is now being held by the church for investment purposes and the income is classified as such on the SOFA. There are no restrictions on the investment income received from the Old Rectory. The Old Rectory (1 Leicester Road) is valued at £400,000, the original purchase cost was £330,000.

The above property was professionally valued on 30 May 2019 by Knightsbridge Estate Agents and Valuers Ltd on an open market value basis.

The Trustees consider the value of the property at 31 December 2022 to remain unchanged.

St Peter's Oadby Annual Report Year ended 31 December 2022

8 ANALYSIS OF NET ASSETS BY FUND

Fixed Assets
Investment Property
Current Assets
Current Liabilities		 Unrestricted
Restricted
Endowment
Total
Total
Funds
Funds
Funds
2022
2021
£
£
£
£
£
252,186
-
-
252,186
651,991
400,000
400,000
-
119,954
124,109
2199
246,262
232,457
(7,725)
(606)
-
(8,331)
(7,525)
764,416
123,503
2,199
890,118
876,923
9
DEBTORS
Gift Aid recoverable
Other Debtors & Prepayments		 Unrestricted
Restricted
Endowment
Total
Total
Funds
Funds
Funds
2022
2021
£
£
£
£
£
1,318
15
-
1,333
-
6,464
1,096
-
7,560
12,525
7,782
1,111
-
8,893
12,525

10 LIABILITIES : AMOUNTS FALLING DUE WITHIN ONE YEAR

Creditors for goods and services
Barclaycard
Mission Giving
Deferred Income		 Unrestricted
Restricted
Endowment
Total
Total
Funds
Funds
Funds
2022
2021
£
£
£
£
£
1,814
412
-
2,226
1,825
395
156
-
551
-
3,450
38
-
3,488
5,700
2,066
-
-
2,066
-
7,725
606
-
8,331
7,525

Deferred income in 2022 comprises winter energy grants and event income received for future financial periods.

11 GOVERNANCE COSTS

The Independent Examiners rumuneration for 2022 was £780 (2021: £1,440).

12 TRANSACTIONS WITH RELATED PARTIES

Donations of £15,389 were received during the year from 16 Trustees & their partners. No conditions were attached to these donations.

During the year a grant of £2,054 was received from the Oadby Educational Foundation towards work with children. Donald Smith and Steve Bailey are trustees of the charity and also trustees of the Oadby Educational Foundation.

During the year payments of £4,300 were made to St John the Baptist Church for Operations Support. Jonathan Tearne, a Trustee of the Charity, is also a trustee of St John the Baptist Church.

13 GOVERNMENT GRANTS

During the year no (2021: 1) Government Grant was received totaling £0 (2021: £5,131).

14 LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:-

Within one year
Between one and five years		 2022
2021
£
£
2,270
2,270
556
2,826
2,826
5,096

St Peter's Oadby Annual Report Year ended 31 December 2022

NOTES TO THE FINANCIAL STATEMENTS (continued)

15 SUMMARY OF FUND MOVEMENTS

notes
Endowment funds:
Launden Bequest
15a
CR Coleman Trust
15b
15c
Restricted funds:
St Peter's Maintenance
15d
St Peter's Centre Maintenance
15e
15f
Youth Club Fund
15g
St Peter's Bell Fund
15h
Third Party
15i
Church Roof and Walls Fund
15j
Youth Worker
15k
Children's Work
15l
15m
Unrestricted funds:
General funds
15n
Sunday School (Designated)
15o
Friends of St Peter's (Designated)
15p
St Peter's Centre Development (Designated)
15q
Old Rectory Management (Designated)
15r
St Peter's Music (Designated)
15s
St Peter's Discretionary (Designated)
15t
St Peter's Choir (Designated)
15u
St Peter's Capital (Designated)
15v
15w
Unrestricted- Revaluation Reserve:
St Peter's Capital
15x
St Peter's Centre Capital
15y
15z
Total funds
15aa
St Peter's Organ Fund		 Fund
balances
brought
forward at
1/1/2022
Income
Expenditure
Gains/
(Losses)
Transfers
£
£
£
£
£
500
-
-
-
-
1,699
-
-
-
-		 Fund
balances
carried
forward at
31/12/2022
£
500
£
1,699
£
2,199
-
-
-
-		 2,199
£
88,941
1,221
(11,358)
-
-
5,655
2,000
-
-
-
4,281
-
-
-
-
32
-
(32)
-
-
254
-
-
-
-
-
7,877
(7,877)
-
-
-
-
-
-
-
25,359
7,150
-
-
-
-
2,054
(600)
-
12,633		 78,804
£
7,655
£
4,281
£
-
£
254
£
-
£
-
£
32,509
£
14,087
£
124,522
20,302
(19,867)
-
12,633		 137,590
£
30,886
162,154
(147,056)
-
-
12,633
-
-
-
(12,633)
1,302
-
(1,302)
-
-
5,984
-
-
-
-
15,551
-
-
-
-
31,711
-
(982)
-
-
1,032
-
(54)
-
-
1,103
-
-
-
-
400,000
-
-
-
(70,000)		 45,984
£
-
£
-
£
5,984
£
15,551
£
30,729
£
978
£
1,103
£
330,000
£
500,202
162,154
(149,394)
-
(82,633)		 430,329
£
-
-
-
-
70,000
250,000
-
-
-
-
250,000
-
-
-
70,000
876,923
182,456
(169,261)
-
-		 70,000
£
250,000
£
320,000
£
890,118
£

St Peter's Oadby Annual Report Year ended 31 December 2022

St Peter's Oadby Annual Report Year ended 31 December 2022

16 SUMMARY OF FUND MOVEMENTS (Prior Year)

notes
Endowment funds:
Launden Bequest
16a
CR Coleman Trust
16b
16c
Restricted funds:
St Peter's Maintenance
16d
St Peter's Centre Maintenance
16e
16f
Youth Club Fund
16g
St Peter's Bell Fund
16h
Third Party
16i
Church Roof and Walls Fund
16j
Youth Work
16k
16l
Unrestricted funds:
General funds
16m
Sunday School (Designated)
16n
Friends of St Peter's (Designated)
16p
St Peter's Centre Development (Designated)
16q
Old Rectory Management (Designated)
16r
St Peter's Music (Designated)
16s
St Peter's Centre Capital (Designated)
16t
St Peter's Discretionary (Designated)
16u
St Peter's Capital (Designated)
16v
St Peter's Choir (Designated)
16w
16x
Total funds
16z
St Peter's Organ Fund		 Fund
balances
brought
forward at
1/1/2021
Income
Expenditure
Gains/
(Losses)
Transfers
£
£
£
£
£
500
-
-
-
-
1,699
-
-
-
-		 Fund
balances
carried
forward at
31/12/2021
£
500
£
1,699
£
2,199
-
-
-
-		 2,199
£
88,941
-
-
-
-
5,655
-
-
-
-
4,281
-
-
-
-
32
-
-
-
-
254
-
-
-
-
-
-
-
-
-
13,426
31,329
(49,701)
-
4,946
24,676
683
-
-
-		 88,941
£
5,655
£
4,281
£
32
£
254
£
-
£
-
£
25,359
£
137,265
32,012
49,701
-
-
4,946		 124,522
£
599
128,292
(93,059)
-
(4,946)
8,965
4,100
(432)
-
-
1,302
-
-
-
-
5,984
-
-
-
-
10,932
7,085
(2,466)
-
-
31,711
-
-
-
-
250,000
-
-
-
-
1,032
-
-
-
-
400,000
-
-
-
-
1,103
-
-
-
-
711,628
139,477
(95,957)
-
(4,946)
851,092
171,489
(145,658)
-
-		 30,886
£
12,633
£
1,302
£
5,984
£
15,551
£
31,711
£
250,000
£
1,032
£
400,000
£
1,103
£
750,202
£
876,923
£

St Peter's Oadby Annual Report Year ended 31 December 2022

17 GRANTS
Giving to Missions, other organisations and individuals:
Open Doors
CPAS
Keith Waddell Foundation (Edgar)
Christian Against Poverty
Oadby Foodbank
Helping Hands
Bible Society
Knighton Free Church (Ukraine Aid)
Churches Together in Oadby
Royal British Legion
Total Grants		 2022
2021
£
£
1,350
1,000
1,350
1,000
1,350
-
1,350
1,000
1,350
500
1,350
1,500
-
1,000
5,236
-
250
-
156
-
13,742
6,000