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← The Parochial Church Council Of The Ecclesiastical Parish Of Heigham, Norwich

2024-12-31-accounts

Minutes of the Annual Meeting of Parishioners and Annual Parochial Church Meeting Sunday 18[th] May 2025 11.30 Holy Trinity Church Norwich

Richard James welcomed everyone to the APCM and opened the meeting in prayer.

Psalm 100 was read collectively.

1.Appointment of Churchwardens (or ‘Meeting of Parishioners’)

Richard summarised the role and duties of Churchwardens and expressed gratitude to Phil Courtier and Paul Henery for all they have done over the year. He announced that Paul Henery is stepping down as warden at the end of his three-year term of office and Richard praised him as an asset and a wonderful colleague. Richard announced that Nicky Russell has been elected as warden for 2025 – 2026. Alastair Gledhill, the curate at Holy Trinity, prayed for Phil and Nicky and encouraged the Church to pray for them.

2. Election of Church Council Members

Richard summarised the role of a PCC Member and thanked retiring PCC members: Nicky Russell, Alex Hillman and Caroline Vernon Smith. He announced there were three vacancies on the PCC, and that the term of appointment was for three years each. Richard introduced the three candidates, Alex Hillman, Irene Ho and Yuyu Tse who are willing to serve a three-year term, no election was necessary.

Paul Henery prayed for the three newly elected women and the PCC for 2024.

3 Draw Near with Faith – Our Vision for 2025-2030

Richard looked back and shared what God has been doing during the past year, he outlined the vision for the future.

Using Psalm 100 we aim to be,

1

Richard used Psalms to encourage us to dwell on God and His goodness.

Psalm 100:3

Rejoice God is our shepherd. Know that the Lord is God. This is relational and intimate inviting us to know him. God is a person to draw near to not a theory to be mastered. We are his, rejoice he has made us his people. He is our shepherd.

So, we follow with joy, serve with love in a sometimes-hostile environment.

We are under the good shepherd. One flock – many generations.

Rejoice at every lost sheep that is found. Psalm 100:5

‘Rejoice God is good, for the Lord is good, his love endures forever’. Praise is inner health made audible C.S.Lewis

However grim our circumstances appear, God has never let us down. So, we make him known with confidence, thankful for his past goodness, expectant for the future, doing good as he has done. Many nations, one Lord calling all the earth to His praise.

2

Richard encouraged everyone to read the PCC report which details everything that is going on at Holy Trinity and he invited all to join with him in serving the work of God in this place.

4. Finance Report – Dwayne Royall Treasurer

Dwayne opened this segment of the meeting with prayer.

Dwayne expressed thanks to Loretta for her work as the finance officer, and Alison for her work with gift aid.

2024 Overview

Income Comments

Expenditure comments

3

2025 – The Year so far

Key Challenges in 2025

Prayer

Phil Courtier prayed for the work of Dwayne and Loretta and the Finance Committee.

5. PCC Report – Richard James Rector

Richard introduced the annual report of the PCC for the year ending 31[st] December 2024.

The PCC report had been circulated in advance of the meeting and copies were available at the meeting. Richard drew attention to many activities Church family members had been involved in.

Questions arising from the PCC report.

Several questions had been received ahead of the meeting.

4

Q1) Jo Courtier – I would like to repeat my question from the 2024 APCM.

In recent times there has been a lack of women preachers at our Sunday services. Richard assured us last year that this was not a deliberate choice of the leadership and so, can I ask again please, what is being done to encourage and train women of all ages to fulfil this role?

I link my question to point 8 on page 4 of the 2025 report under the heading ‘Progress toward our vision’. This point says that men and women have been identified and offered training and development opportunities and Bible teaching. Please can we be assured this includes women of all ages and includes the Sunday services?

Richard James replied

We prize women to flourish; people hold different views on women in leadership.

There are many wonderfully gifted women at Holy Trinity, and we are committed to help them flourish including leading up front and teaching the Bible in different groups such as the all age team. We want to create a culture where women flourish.

There is a programme in place to encourage women e.g. prayer focus. We would like to see more women and plans are developing for Crosslands with the NGP to hold Bible teaching workshops in the autumn 2025.

Q2) Mike Hulme

The rector intimated to the church two weeks ago the desire to see more female members elected to the PCC. With this in mind, has consideration been given to some possible reasons why there may be a gender imbalance on the PCC and any measures that could be taken to rectify this? For example, meeting times and schedules to be more accommodating of those with caring responsibilities, the format or conduct of meetings, an earlier and more proactive solicitation of women who may be willing to stand for election.

Richard James replied

5

The gender balance on the PCC is not where we want it to be. There is more work to be done to consider why women don’t stand for PCC.

Q3) Mike Hulme

Relative to 2023, expenditure in 2024 on accountancy fees more than doubled to £3,900. Payroll and HR support nearly quadrupled to £10,100. These costs combined have typically been around £4,500 for the last 5 years. Please would the treasurer explain why expenditure in 2024 was so anomalous?

Dwayne Royall replied

The accounting fees 2024 are added in accrual which doubled the costs. Payroll HR support for the cleaning contracts caused a rise.

Q4) Mike Hulme

The PCC and its members as Trustees, operates under UK Charity Law. All charities must have procedural safeguards to protect the charity against actual or perceived conflicts of interest. Could the Chair of the PCC let us know whether the PCC has a ‘Conflict of interest’ policy that all members are briefed on and, if so, how the policy is adhered to in PCC meetings?

Phil Courtier replied

When there is a conflict of interest during PCC meetings e.g. staff salary, mission grants, then the relevant people leave the discussion. There is no conflict-of-interest policy in place at the present time however, we will adopt the CoE standard policy template at the next PCC meeting.

Q5) Mike Hulme

Mike Hulme referred to the Treasurer’s presentation and sought confirmation from him that the near balance of income and expenditure in 2024 was a result of the planned further draw-down of the PCC’s reserves and that, therefore, actual expenditure in 2024 exceeded actual giving during the year.

Dwayne Royall replied

In the 2024 accounts as presented we drew on £25K reserve. For 2024 we were 6% below our income. This year we flatten off because we drew on these reserves as a deliberate reduction of the reserves.

6

Paul Hoey commented

Charities are required to hold reserves to cover costs for three months in case the charity should close. Reserves should not be held back as money is given for good and operation of the church.

Richard invited any other questions. No further questions were forthcoming.

6. Reappointment of independent examiners Aston Shaw ltd.

Dwayne Royall proposed, Phil Courtier seconded – unanimous.

7. Stewards and Welcomers

Richard shared the names of all those who are stewards and welcomers and thanked those who are involved in this important ministry. A slide naming all stewards and welcomers was shown.

The list of stewards and welcomers was approved by a show of hands with no dissent.

8. New Members since APCM 2023

Rosalyn Anderson is the electoral roll officer.

Richard reported that the Electoral Roll total was 229.

2025 saw the electoral roll renewal as happens every 6years.

The roll is broadly consistent with 229 on the electoral roll as of 4[th] May 2025.

Richard prayed for the new members of Holy Trinity on the electoral roll.

9. Expressions of thanks

Richard thanked everyone for coming to this meeting and to the whole Church family. Richard went on to express particular thanks to:

7

• Gill Hulme PCC secretary

Paul Henery thanked Richard for his leadership, hospitality and wise gospel commitment. He also thanked Phil Courtier and the staff team who have supported his time as warden.

Phil Courtier thanked Richard for leading the church and pointing us to Christ.

10. Closing Prayer -

The meeting concluded with a closing prayer led by Richard.

Date of Next APCM To be advised.

Gill Hulme, PCC Secretary, May 2025

8

Charity registration number 1132477

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HEIGHAM, NORWICH

HOLY TRINITY CHURCH

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HEIGHAM, NORWICH HOLY TRINITY CHURCH LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr Philip Courtier Dr Thomas Gray Dr Antony Smith Mr Jason Wilson Mr Jonathan Mason Mr Paul Henery Ms NM Russell Ms M Jowitt Ms A Hillman Ms CF Verdon-Smith Rev Alastair Gledhill Matthew Stevenson Noah Marsh Dwayne Royall Rev Richard James Charity number 1132477 Principal address 110A Trinity Street Norwich Norfolk England NR2 2BJ Independent examiner Sotos Christophi FCCA Aston Shaw Limited Chartered Certified Accountants The Union Building, 51-59 Rose Lane Norwich Norfolk England NR1 1BY

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HEIGHAM, NORWICH HOLY TRINITY CHURCH CONTENTS

Page

Independent examiner's report 1
Statement of financial activities 2
Balance sheet 3
Notes to the financial statements 4 - 18

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HEIGHAM, NORWICH HOLY TRINITY CHURCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HEIGHAM, NORWICH reporl lo Ihe Iruslees on my examination of the financial slalemenls of The Parochial Church Council of the Ecclesiastical Parish of Heigham. Notwich Ilhe Charity) for the year ended 31 December 2024. Responsibilities and basis of report As the trustees of the Charity you are responsible for the preparation of the financial ststements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I reporl in respect of my examination of the Charity's financial slalemenls carried out under section 145 of the 2011 Act. Ir) carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5llbl of the 2011 Act. Independent examiner's statement Since the Charity's gross income éxceeded £250.000 your examinèr musl be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member of The Association of Chartered Certified Accountants IACCA), which is one of the listed bodies. Your attention is drawn lo the fact that the charity has prepared financial statements In accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities.. Statement of Recommended Practic8 issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that this has been done in order for financial slalements to provide a true and fair view in accordance with Genèrally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my éxamination. I confirm that no matters have come to my attention in connection with the examination giving me cause lo believe that in any material respect: accounting records were not kept in respect of the Charity as required by se¢lion 130 of the 2011 Act., or the financial statements do not accord with those records., or the financial statements do not comply with the applicable requirements conceming the form and content of accounts sel 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 conneclion with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the financial statements lo be reached. Sotos Christophi FCCA Aston Shaw Limited Chartered Certified Accountants The Union Building, 51-59 Rose Lane Norwich Norfolk NR1 1BY England Dated.. ?b103 Iloag

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HEIGHAM, NORWICH HOLY TRINITY CHURCH

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2024

Unrestricted
Restricted Endowment
funds
funds
funds
2024
2024
2024
Notes
£
£
£
Income from:
Donations, legacies and grants
2
368,289
3,859
-
Church activities
3
8,879
-
-
Income from investments
4
10,232
-
2,229
Total income and endowments
387,400
3,859
2,229
Expenditure on:
Charitable activities and Mission grants
5 & 6
412,890
1,765
2,229
Investment property costs
5
1,967
-
-
Total resources expended
414,857
1,765
2,229
Net (expenditure)/income for the year/
Net (expenditure)/income for the year/
Net movement in funds
(27,457)
2,094
-
Fund balances at 1 January 2024
671,994
1,723
31,991
Fund balances at 31 December 2024
644,537
3,817
31,991		 Total Unrestricted
Restricted Endowment
funds
funds
funds
2024
2023
2023
2023
£
£
£
£
372,148
371,896
202
-
8,879
7,121
-
-
12,461
6,582
-
1,638
393,488
385,599
202
1,638
416,884
406,075
408
1,638
1,967
18,651
-
-
418,851
424,726
408
1,638
(25,363)
(39,127)
(206)
-
705,708
711,121
1,929
31,991
680,345
671,994
1,723
31,991		 Total
2023
£
372,098
7,121
8,220
387,439
408,121
18,651
426,772
(39,333)
745,041
705,708

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HEIGHAM, NORWICH HOLY TRINITY CHURCH BALANCE SHEET AS AT31 DECEMBER 2024 2024 2023 Notes Flxed assets Tangible assets Inveslm8nl propeilles CBF Church of England Deposll Account 12 13 14 25,830 512,500 42.818 36.418 512.500 42.818 581,148 591,736 Current assets Debtors Cash al bank and Sn hand 15 38.349 75,490 12,892 111,211 113,839 124,103 Crèditors: amounts falllng duè wlthln one year 16 (14,6421 110,131) Nel currènt assets 99,197 113,972 Total assets less curr•nt Ilabllitios 680,345 705,708 apltal funds Endowment funds- general Income funds Reslrlcled funds Unreslricled funds 20 31,991 31,991 21 22 3,817 644,537 1,723 671,994 680,345 705,708 The rrta statements were approved by the Trustees on ?5105!ooa 5 r Philip Courtier Trustee Mr Paul Henery Trustee

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HEIGHAM, NORWICH HOLY TRINITY CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

Charity information

The Parochial Church Council of the Ecclesiastical Parish of Heigham, Norwich is a unincorporated charity.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's constitution, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 (FRS 102)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are those funds that are held for spending at the PCC’s discretion. These include any further funds, which the PCC has designated for particular purposes (“designated funds”). Unrestricted funds comprise:

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HEIGHAM, NORWICH HOLY TRINITY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

General funds Funds of the PCC that are not subject to any restrictions regarding their use and are available for application for the general purposes of the PCC.

Tangible Funds set-aside by decision of the PCC to reflect monies tied-up in tangible fixed assets and fixed hence not readily expendable without disposal of the relevant assets. assets reserve

Investment Funds set-aside by decision of the PCC to reflect monies tied-up in the investment property property and hence not readily expendable without disposal of the investment property. reserve

Fabric fund Funds set-aside by decision of the PCC in 2018 to cover the costs of any one-off or occasional building or furnishing projects (designation clarified by PCC in 2019).

Restricted funds are those that are subject to specific trusts. For the purposes of these accounts, the funds held under this heading are the “income funds” i.e. they must be spent on the specified purpose(s) within a reasonable period of time. 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. Restricted “income” funds comprise:

Hardship Fund Donations for the Hardship Fund were collected during 2020 for the support of individuals and families within our congregation or community who are in severe hardship.

Endowment funds are funds, the capital of which must be maintained; 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. Endowment funds comprise:

Bransby Legacy An endowment with interest earmarked for costs of youth work. The assets of the legacy are held on deposit within the CBF Church of England Deposit Fund.

1.4 Income

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Planned giving receivable under Gift Aid is recognised only when received. Income tax recoverable on Gift Aid donations is recognised when the income to which it relates is received.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HEIGHAM, NORWICH HOLY TRINITY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC. The diocesan parish share is accounted for when paid. Because it is not a legal liability, any parish share unpaid at 31 December is not provided in these financial statements except to the extent that the PCC has resolved to pay the shortfall. All other expenditure is generally recognised when it is incurred and is accounted for gross.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold improvements 10% Straight Line Other office equipment 25% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Investment properties

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in ‘net gains / (losses) on investments’ in the SoFA.

1.8 Impairment of fixed assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HEIGHAM, NORWICH HOLY TRINITY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

1.10 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

The charity offers membership of a defined contribution pension scheme to its employees. Contributions payable are charged in the Statement of Financial Activities in the period to which they relate. The charity has no responsibility for the management of the pension scheme, which is provided by a third party.

1.13 Volunteer Activities

A large amount of activities run by the church are staffed by volunteers who give of their time and resources. This help is unquantifiable but without it the church could not continue to pursue its work.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HEIGHAM, NORWICH HOLY TRINITY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

2 Donations, legacies and grants

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Giving - standing orders
259,867
-
Giving - Sunday
collections
2,910
-
Giving - other planned
20,549
-
Giving - other
19,247
3,109
Income tax recoverable
(Gift Aid)
54,496
750
Grants
5,846
-
Legacies received
5,374
-
368,289
3,859		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
259,867
262,528
-
2,910
2,887
-
20,549
19,078
-
22,356
19,884
192
55,246
54,172
10
5,846
13,347
-
5,374
-
-
372,148
371,896
202		 Total
2023
£
262,528
2,887
19,078
20,076
54,182
13,347
-
372,098

3 Income from charitable activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Wedding & funeral fees 1,682 1,107
Church & hall hire 6,210 3,388
Other receipts 987 2,626
8,879 7,121

4 Income from investments

Unrestricted Endowment
funds
funds
2024
2024
£
£
Rental income (26 Trinity
Street)
9,300
-
Interest received
932
2,229
Other trading activities
10,232
2,229		 Total
Unrestricted Endowment
funds
funds
2024
2023
2023
£
£
£
9,300
5,400
-
3,161
1,182
1,638
12,461
6,582
1,638		 Total
2023
£
5,400
2,820
8,220

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HEIGHAM, NORWICH HOLY TRINITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

5 Charitable activities

Unrestricted Funds
Restricted Funds
Endowment funds
2024
2024
2024
£
£
£
Staff costs
141,746
-
2,229
Depreciation and impairment
14,782
-
-
Mission - Local outreach
4,077
1,765
-
Pension costs
6,652
-
-
Maintenance of buildings and equipment
21,671
-
-
Events & hospitality
8,080
-
-
Books
4,602
-
-
Jenny Lind property rental
6,771
-
-
Diocesan parish share
90,000
-
-
Utilities (light, heat and water)
22,733
-
-
Young people's activities
4,273
-
-
Staff/clergy expenses
4,622
-
-
Training
5,427
-
-
Other expenditure
4,534
-
-
Music
1,872
-
-
Insurance
5,744
-
-
Office costs, advertising, IT and telephone
9,037
-
-
Accountancy assurance fees
3,870
-
-
Payroll and HR support
10,075
-
-
Other groups activites
1,275
-
-
371,843
1,765
2,229
Rental property expenses
1,967
-
-
373,810
1,765
2,229		 Total
2024
£
143,975
14,782
5,842
6,652
21,671
8,080
4,602
6,771
90,000
22,733
4,273
4,622
5,427
4,534
1,872
5,744
9,037
3,870
10,075
1,275
375,837
1,967
377,804		 2023
£
150,140
23,994
4,232
6,351
11,742
5,988
4,278
7,149
90,000
26,323
2,623
5,279
3,351
4,304
1,438
5,066
9,575
1,716
2,569
2,763
368,881
18,651
387,532

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HEIGHAM, NORWICH HOLY TRINITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

5
Charitable activities
Analysis by fund
Unrestricted funds
Restricted funds
Endowment funds - general		 373,810
-
-
373,810		 1,765
-
1,765		 -
-
2,229
2,229		 (Continued)
373,810
385,486
1,765
408
2,229
1,638
377,804
387,532		 (Continued)
373,810
385,486
1,765
408
2,229
1,638
377,804
387,532
387,532

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HEIGHAM, NORWICH HOLY TRINITY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

6 Mission grants

Mission grants - individual partners
Mission grants - agencies
7
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets		 2024
£
33,847
7,200
41,047
2024
£
14,782		 2023
£
30,230
9,010
39,240
2023
£
23,994

8 Diocesan Parish Share

The parish share allocated to the PCC for 2024 was £90,000 (2023 £90,000). This reflects the overall cost of clergy within the Diocese and a method of allocation based upon two elements, the actual cost of ministry within a benefice (which for Holy Trinity equates to the parish) and a contribution to the cost of mission and ministry across the Diocese.

In 2024 the PCC paid its full £90,000 parish share (2023 paid £90,000 in full). The Diocese has agreed to request a parish share at the same level as that paid in 2024 (£90,000) for the year ending 31 December 2025.

9 Employees

The average monthly number of employees during the year was:

Church activities
Management and administration
Total
Employment costs
Wages and salaries
Other pension costs		 2024
Number
5
2
7
2024
£
143,975
6,652
150,627		 2023
Number
7
2
9
2023
£
150,140
6,351
156,491

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HEIGHAM, NORWICH HOLY TRINITY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

9 Employees

(Continued)

During the year the PCC employed the following staff: one ministry assistants, two youth and children's workers, a part-time cleaner (left in February), a church administrator, a part-time finance administrator, a parttime organist and a part-time parish mission enabler.

PCC Members and Related Parties

There was no remuneration or other benefits paid to PCC members in their capacity as members for the year ended 31st December 2024 nor for the year ended 31st December 2023.

During the year the following disclosable transactions occurred in respect of PCC members, persons closely connected to them or other related parties:

There were no employees whose annual remuneration was more than £60,000.

10 Independent Examiner's Remuneration

The independent examiner's remuneration amounts to an independent examination fee of £1,982 (2023: £1,888) and payroll services of £1,264 (2023: £1,087), the latter of which are included within 'Payroll and HR Support'.

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HEIGHAM, NORWICH HOLY TRINITY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

12
Tangible fixed assets
Freehold
improvements
Other office
equipment
£
£
Cost
At 1 January 2024
61,125
129,466
Additions
-
4,194
At 31 December 2024
61,125
133,660
Depreciation and impairment
At 1 January 2024
61,121
93,052
Depreciation charged in the year
-
14,782
At 31 December 2024
61,121
107,834
Carrying amount
At 31 December 2024
4
25,826
At 31 December 2023
4
36,414
13
Investment property
Fair value
At 1 January 2024 and 31 December 2024		 Total
£
190,591
4,194
194,785
154,173
14,782
168,955
25,830
36,418
2024
£
512,500

In December 2022, the investment property, being the house at 26 Trinity Street, was formally valued by a local agency to be approximately £500,000 - £525,000. With this in mind, members of the PCC approved a valuation for this property of £512,500 as at December 2022. The net book value of the investment property is attributable to the investment fund.

Freehold Property 2024
£
512,500
512,500		 2023
£
512,500
512,500

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HEIGHAM, NORWICH HOLY TRINITY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

14 CBF Church of England Deposit Fund

£
At 1 January 2024 and at 31 December 2024 42,818

Funds held on deposit include amounts attributable to the Bransby Legacy.

15
Debtors
2024
Amounts falling due within one year:
£
Income tax recoverable on Gift Aid donations
31,630
Other debtors
-
Prepayments and accrued income
6,719
38,349
16
Creditors: amounts falling due within one year
2024
£
Other creditors
14,642
17
Movement in unrestricted funds
Tangible fixed assets reserve/general funds and Fabric Fund - transfer to match the net
value tied up in tangible fixed assets
(3,305)
Fabric Fund (Lighting project)
(7,283)
General funds
10,588
Net Total
0		 2023
£
5,392
374
7,126
12,892
2023
£
10,131

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HEIGHAM, NORWICH HOLY TRINITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

18
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
Endowment
funds
2024
2024
2024
£
£
£
Fund balances at 31 December 2024 are
represented by:
Tangible assets
25,830
-
-
Investment properties
512,500
-
-
CBF Church
of England
Deposit Fund
10,827
-
31,991
Current assets/(liabilities)
95,380
3,817
-
644,537
3,817
31,991		 Total
Unrestricted
funds
Restricted
funds
Endowment
funds
2024
2023
2023
2023
£
£
£
£
25,830
36,418
-
-
512,500
512,500
-
-
42,818
10,827
-
31,991
99,197
112,249
1,723
-
680,345
671,994
1,723
31,991		 Total
2023
£
36,418
512,500
42,818
113,972
705,708

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HEIGHAM, NORWICH HOLY TRINITY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

19

Given to Mission and Social Action

for the Parochial Church Council of Holy Trinity Church for the year ended 31 December 2024

for the year ended 31 December 2024
Total Total
2024 2023
£ £
Individuals:
SIM - Penny Bakewell 4,909 4,675
WEC - Colin Bearups 9,790 9,324
Stewardship - Rachel Spencer 7,000 5,886
UCCF - Rosie O'Donnell 5,400 4,509
MAF - Nathanael Smith 2,348 2,236
North African Mission - John Cooper 100 -
Friends International - Raquel Medina 4,300 3,600
33,847 30,230
National Agencies:
CPAS 1,000 1,100
UCCF - 600
Musalaha 1,000 -
2,000 1,700
Local Organisations:
English + 3,500 3,500
Magdalen Project 500 1,100
Norwich Youth for Christ 500 1,100
UEA Christian Union 700 850
CPAS Venture - 560
Boundary Breakers Ltd - 200
5,200 7,310
Total 41,047 39,240

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HEIGHAM, NORWICH HOLY TRINITY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

20 Endowment funds

Endowment funds represent assets which must be held permanently by the Charity. Income arising on the endowment funds can be used in accordance with the objects of the Charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.

At 1 January Incoming Resources At 31
2024 resources expended December
2024
£ £ £ £
Permanent endowments
Bransby Legacy 31,991 2,229 (2,229) 31,991
Previous year: At 1 January Incoming Resources At 31
2023 resources expended December
2023
£ £ £ £
Permanent endowments
Bransby Legacy 31,991 1,638 (1,638) 31,991

21 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 January Incoming Resources At 31
2024 resources expended December
2024
£ £ £ £
Hardship fund 1,723 3,859 (1,765) 3,817
Previous year: At 1 January Incoming Resources At 31
2023 resources expended December
2023
£ £ £ £
Hardship fund 1,929 202 (408) 1,723

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HEIGHAM, NORWICH HOLY TRINITY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

22 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
General funds
Previous year:
At 1
General funds		 January
2024
Incoming
resources
Resources
expended
At 31
December
2024
£
£
£
£
671,994
387,400
(414,857)
644,537
January
2023
Incoming
resources
Resources
expended
At 31
December
2023
£
£
£
£
711,121
385,599
(424,726)
671,994