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← The Parochial Church Council Of The Ecclesiastical Parish Of Melton Mowbray

2023-12-31-accounts

REGISTERED CHARITY NUMBER: 1132480

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY

TC East Midlands Limited 31 High View Close Hamilton Office Park Leicester

LE4 9LJ

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Page
Report of the Trustees 1 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Cash Flow Statement 10
Notes to the Financial Statements 11 to 21

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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 2015).

OBJECTIVES AND ACTIVITIES

Aims and purposes

The ecclesiastical parish of Melton Mowbray’s Parochial Church Council (PCC) has the responsibility of co-operating with the Team Rector of the Parish, the Reverend Dr Mary Barr, in promoting the whole mission locally of the Church of England in pastoral, evangelistic, social and ecumenical matters. Mary Barr was Acting Team Rector until July 2023, following the retirement of the previous Rector. After interview and appointment in July 2023 she became Rector Designate until her institution, induction and installation as Rector on 3rd October 2023.

The PCC is also specifically responsible for the maintenance of five churches in the parish (St Mary, Freeby is maintained by the Churches Conservation Trust) and associated buildings, in particular The Centre (formerly known as Mary’s Place) and Thorpe Arnold Village Hall. It is also responsible for the maintenance of 3 Church Terrace, Melton Mowbray which is let and managed by Belvoir Lettings on behalf of St Mary's Church, Melton Mowbray., Melton Mowbray which is let and managed by Belvoir Lettings on behalf of St Mary's Church, Melton Mowbray.

Mission Statement

As a parish we are committed to:

Activities

The PCC has the responsibility of co-operating with the incumbents in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical.

ACHIEVEMENT AND PERFORMANCE

The PCC met a number of times during the year (mainly online due to the pandemic), including the Annual Meeting.

A number of faculties were considered.

St Mary, Melton Mowbray.

2023 has been a busy year, with all the usual activities and added work involved in filling the vacancy with regards to the Team Rector. The Diocese gave us the go ahead to start the process, and the first priority was to form a Profile Group. This met weekly to pull together the Parish profile, and when this was complete it was submitted to the PCC at which time they took the decision not to advertise. As there was an internal candidate, and although the Revd. Dr Mary Barr, was acting Team Rector having been Team Vicar, she had to go through the whole process of applying with all the necessary documentation and then a full interview with a presentation to a panel consisting of The Venerable Richard Worsfold Archdeacon of Leicester, The Patron, Revd Mike Duff, Parish Representatives, Dr Janet King, and Canon Ian Neale. A unanimous decision was made, and Mary was installed in October.

Services over the year were well attended, and our numbers have increased in some areas. The Minster Communities scheme hangs heavy over our heads, and it is difficult to plan ahead not knowing what will happen in the future with regards to stipendiary posts, especially Ordained, and where and who we will be grouped with.

The wardens have concern with regards to the excess of expenditure over income some £40K in 2023; this is due to a combination of factors, our bookings, although picking up, have not yet reached pre-covid levels, the increase in Gas and Electricity costs and the excessive amount paid to the Diocese of Leicester.

We are due to introduce a more family orientated service in early 2024, focused on the baptism families hopefully this will help us engage better with families and help reduce our average age of the current congregation.

Again, the Christmas Tree Festival was the largest fundraising event, which also helps us communicate with the town and build on the many links that we have with the Melton Borough Council, The Melton Mowbray Town Estate, the BID Company, Melton in Bloom, local charities, especially MADMAC and Storehouse, the voluntary Organisations and the many aspects of life in Melton Mowbray.

We have been able to open St. Mary’s for 16 house each week, plus services and this has been facilitated by a team of volunteers who welcome visitors into our building, and those who wish to come and sit quietly, we very much appreciate the time that our volunteers give to this important ministry, and all the other voluntary work that is done in the name of St. Mary’s Church.

Page 1

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

ACHIEVEMENT AND PERFORMANCE (continued)

The Centre / Mary’s Place.

It has again been a challenging year for The Centre. As with many organisations, finance is the main challenge, with gas and electricity charges being the greatest challenge. Running costs are still rising. It does look, however, that from the bookings point of view that things are tentatively looking up. Barclays have extended their use of Room 1 as an 'advice centre' for three days a week for a further year. We have now rented out the two offices on the corridor downstairs. Similarly, community clubs and groups are booking rooms. However, there is still capacity for further bookings. The agents have still not found a tenant for the 'café area'. We hope that the issues over the non-payment of utility bills by the cafe's previous tenant will soon be resolved. Several people work hard on the day-to-day running of The Centre, along with the Chairman and the Centre Management Group.

St James’ Burton Lazars

2023 was another full year at St James Church Burton Lazars.

We have managed to put on a full programme of services even though the Clergy available to lead services has suffered a severe cut back with the Diocese not agreeing to appoint a replacement Team Vicar or a Curate, leaving one ordained and one retired Clergy to cover all the Team Parish Services, together with a few Lay Ministers. However, we were grateful to have two services covered by Diocesan Clergy. Activity on funerals weddings and baptisms was low in 2023 with only 3 baptisms, no weddings and only one funeral although we did have three burials of ashes. There no longer seems to be much commitment to attend services on a weekly basis and people’s lives outside of Church seem to be affecting commitment to church. It also has to be noted that a few of our previously committed church members have suffered from serious illness, which stops them from attending at all. We have been encouraged by the Stay and Playgroup some of whom took part in the Christmas Christingle Service and which was very popular. The fortnightly Coffee Morning continues to fill a much-needed space in the Community.

We have been fortunate enough to continue to support our local foodbank, Storehouse. We have collected a lot of shoeboxes for ‘Teams for You’ to be sent to Eastern Europe and we have continued to help to support a Church Planting in Albania.

St Mary the Virgin, Thorpe Arnold

In 2023 we enjoyed a wide range of services in addition to Holy Communion and Morning Prayer, these included: Iona style worship, hosting the World Day of Prayer service, the Service of light at Easter, Coronation weekend service and events, another packed church for the service of Nine lessons and Carols, Songs of Praise and Eco services. The average attendance was twenty in 2023. There were twelve baptisms, one marriage blessing and renewal of vows and three funerals.

The preschool group continues to meet weekly, led by our Pioneer.

The church hall is an asset to the village hosting church events including coffee mornings, film nights and themed evenings as well as regular lettings.

There have been several social and fundraising events.

St Bartholomew’s, Welby

St Bartholomew’s Church continued to nurture the small, mainly elderly, congregation with regular services at 3.00pm on the first and third Sundays of each month. These included special seasonal services. Unfortunately, the church building was unsafe to use for several weeks following a significant fall of plaster from the ceiling, and the congregation was grateful to be able to meet in St Leonard’s Church, Sysonby, until our ceiling was repaired. A memorial bench was donated to the Church Yard in memory of the late Sam Willder (a former Churchwarden). The DCC members continued to look after the Church Building and Churchyard.

St Leonard's, Sysonby

Services at Sysonby during 2023 followed the same pattern as those in the previous year - Easter Sunday Holy Communion, Summer Songs of Praise, Harvest Festival, Service of Loving Remembrance and Christmas Eve Carol Service. Sadly, attendances at the first three services of the year were smaller than in previous years, with Christmas Eve as usual being the most popular. A Coffee Morning was held on Midsummer’s Day but regrettably due to the dwindling number of volunteers at St Leonard’s, that was the only fundraising event able to be held. For a period of time during the later months of 2023, Sysonby’s DCC was pleased to offer the use of St Leonard’s building to the congregation of St Bartholomew’s, Welby, whilst repairs were carried out to the ceiling of their church.

St Mary, Freeby

The Churches Conservation Trust maintains that services cannot safely be held within the church building, due to the hazards caused by the very significant bat population and ensuing mess. Therefore, it is no longer possible to hold regular services in the hamlet of Freeby. However, an act of worship for Harvest Festival was led by a licensed Pioneer Minister in the grounds of St Mary’s and the village hall in September. St Mary's Churchyard is cared for locally and is still open for burials (one was held during 2023).

Gathering & Travelling Fresh Expression Church

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

ACHIEVEMENT AND PERFORMANCE (continued)

We made and gave blessing bags for the staff at St Mary’s Primary School.

Every family received a Lent envelope with ideas for each day and a Lent calendar (like an Advent calendar). We took part in the Big Butterfly count and the Big Plastic count.

We celebrated one of our parents getting married, and we welcomed a new family.

We spent lots of time spent in nature with our creator God, caring for those around us and the world. We are very grateful for the G&T hospitality team members, who have done a wonderful job setting up, greeting, assisting, cooking tea and clearing away.

Page 3

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

FINANCIAL REVIEW

Financial review

Total receipts on unrestricted funds were £283,027 and restricted funds receipts totalled £24,821. The total income of the PCC was £273,934.

The net result for the year was a decrease in funds of £307,648, being a loss of £14,799 on general funds and a loss of £8,053 on restricted funds.

Principal Sources of Funding

The ongoing principal source of funding for the parish is through encouraging use of the planned giving scheme and ensuring that gift aid is claimed on donations wherever possible. The giving is reviewed regularly with supporters encouraged to review their level of giving. The Parish Giving Scheme has been operated by Thorpe Arnold Church since 2016.

Investment policy and objectives

Within the parish, the main financial investments are held by St Mary's, Melton Mowbray. It has a policy of investing most of its assets in Central Board of Finance of the Church of England Funds managed by CCLA Investment Management Limited. This has an investment policy of ethical investment, social policy, environmental issues and risk taking which therefore operates for St Mary's and the parish.

Reserves policy

The reserves policy is that the balances on the account are held to balance needs between years and to meet any unplanned demands.

The PCC funds rely on receiving regular contributions from the parish churches to meet its expenditure. The churches each have their own general funds which are to be used for that location.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, an approved governing document issued by the Church of England adopted 23 July 2008.

Members and committees

The method of appointment of PCC members is set out in the Church Representation Rules. All Church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC.

Standing Committee:

This meets to prepare the agenda for the PCC and has power to transact the business of the PCC in emergencies between its meetings, subject to any directions given by the PCC Membership consists of the Team Rector (who Chairs the PCC together with the senior Church Warden), all Churchwardens, Treasurer and Secretary.

Treasurers Meeting:

This consists of the PCC Chairs including the Team Rector, and Treasurer, plus the treasurers from each Church.

Melton Mowbray Team Parish is constituted as follows:

St Mary's, Melton Mowbray

St Mary the Virgin, Thorpe Arnold

St James', Burton Lazars

St Mary's, Freeby - the Church is under the control of the Historic Churches Trust.

St Leonard's, Sysonby

St Bartholomew's, Welby

Each church (except Freeby) has an elected District Church Council and elected district churchwardens.

The churchwardens of St Mary’s Parish Church, Melton Mowbray are officially the parish churchwardens.

Page 4

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

FINANCIAL REVIEW (continued)

Each District Church Council elects members to the Parochial Church Council.

All Church attendees are invited to register on the Parish Electoral Roll and stand for election to the PCC of the Team Parish &/or the DCC's of the individual churches.

Responsibilities of the PCC Members

The PCC Members (who are also trustees of The Parochial Church Council of the Ecclesiastical Parish of Melton Mowbray for the purposes of charity law) are responsible for preparing the Report of the Trustees 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 & 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 the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of its governing document. 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.

Approved by order of the Parochial Church Council on ………………. and signed on its behalf by:

............................................. Revd Dr Mary Barr Team Rector

Melton Mowbray Team Parish

Page 5

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1132480 Principal address The Parish Office, 8 Burton Road, Melton Mowbray, Leicestershire, LE13 1AE Members of the PCC Clergy Team Rector Revd. Dr Mary Barr Reader Linda Pearson Churchwardens Marion Gumbrill and Ian Neale Members Dina Neale, Francis Thomas, Dave Kitching, Louisa Morris, Jacqueline Wilson, Keith Wilson, Audrey Hutchin, Jenny Pengelly, Janet King, Lynne Osborne, John Lloyd, Julia Hinde, Dr Peter Stribblehill, Connor Parker, Joy Stribblehill, Carol Parker, Catherine Shenton, Helen Dickinson, Colin Moulds, David Wilford, Colin Beavis, Peter Franklin, Jane Meakin, Jennifer Miller.

Appointed Officers PCC Vice Chair Ian Neale PCC Secretary Peter Stribblehill PCC Treasurer Michael Osborne

Administration

Each church (except Freeby) has an elected District Church Council including elected district churchwardens, who have a delegated responsibility for the day-to-day management of their church, subject to the overall control of the PCC. The churchwardens of St Mary’s Parish Church, Melton Mowbray are the parish churchwardens.

Independent examiner

TC Group, 31 High View Close, Hamilton Office Park, Leicester, Leicestershire, LE4 9LJ

Solicitors

Latham & Co., Charnwood House, 2 Forest Road, Loughborough LE11 3NP

Bankers

HSBC, 17 High Street, Melton Mowbray, LE13 0TY

They act for St Mary's Melton Mowbray and the PCC and so are the main banker for the charity.

Page 6

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY

I report to the charity trustees on my examination of the accounts of The Parochial Church Council of Melton Mowbray (the Church) for the year ended 31 December 2023.

Responsibilities and basis of report

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

I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 and in carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

Since the Church’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Accountants, which is one of the listed bodies.

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

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.

J. Dennis ACA

For and on behalf of

TC Group 31 High View Close Hamilton Office Park Leicester LE4 9LJ

Dated: / / 2024

The notes form part of these financial statements

Page 7

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Unrestricted Restricted
Total		 funds
Total		 funds
funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Voluntary income, donations and legacies 2 147,723 9,076 156,799 149,318
Activities for generating funds 3 91,823 15,076 106,899 82,986
Income from charitable activities 4 18,408 - 18,408 16,170
Investment income 5 25,073 469 25,542 25,460
Total 283,027 24,621 307,648 273,934
EXPENDITURE ON
Raising funds 6 12,494 2,905 15,399 12,589
Charitable activities
Church activities 7 305,400 29,769 335,169 318,875
Total 317,894 32,674 350,568 331,464
NET INCOME/(EXPENDITURE) BEFORE (34,867) (8,053) (42,920) (57,530)
INVESTMENT GAINS
Net gains/(losses) on investments 20,068 - 20,068 (70,523)
NET INCOME/(EXPENDITURE) (14,799) (8,053) (22,852) (128,053)
Transfers between funds 816 (816) - -
Net movement in funds (13,983) (8,869) (22,852) (128,053)
RECONCILIATION OF FUNDS
Total funds brought forward 738,649 1,201,245 1,939,894 2,071,027
Adjustment 538 564 1,102 (3,080)
TOTAL FUNDS CARRIED FORWARD 725,204 1,192,940 1,918,144 1,939,894

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

Page 8

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY

BALANCE SHEET AT 31 DECEMBER 2023

2023 2022
Unrestricted Restricted Total funds Total funds
funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 14 - 1,077,689 1,077,689 1,077,210
Investments 15 581,079 - 581,079 561,011
581,079 1,077,689 1,658,768 1,638,221
CURRENT ASSETS
Stocks 16 - - - -
Debtors 17 29,231 14,681 43,912 32,574
Cash at bank 165,845 100,570 266,415 310,838
195,076 115,251 310,327 343,412
CREDITORS
Amounts falling due within one year 18 (50,951) (50,951) (41,739)
NET CURRENT ASSETS 144,125 115,251 259,376 301,673
TOTAL ASSETS LESS CURRENT LIABILITIES 725,204 1,192,940 1,918,144 1,939,894
NET ASSETS 725,204 1,192,940 1,918,144 1,939,824
FUNDS 19
Unrestricted funds 725,204 738,649
Restricted funds 1,192,940 1,201,245
TOTAL FUNDS 1,918,144 1,939,894

The financial statements were approved by the Parochial Church Council on …………… and were signed on its behalf by:

............................................. Trustee

Page 9

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023

2023
Notes
£
Cash flows from operating activities:
Cash generated from operations
i
(58,210)
Net cash provided by (used in) operating
activities
(58,210)
Cash flows from investing activities:
Sale of fixed asset investments
-
Purchase of tangible fixed assets
-
Interest received
469
Dividends received
20,068
Net cash provided by (used in) investing
activities
20,537
Net cash inflow/(outflow)
20,537 21,411
Change in cash and cash equivalents in the
reporting period
20,537
Cash and cash equivalents at the beginning of
the reporting period
440,228
Cash and cash equivalents at the end of the
reporting period
460,765
i.
RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM
ACTIVITIES
2023
£
Net income/(expenditure) for the reporting period (as per the
statement of financial activities)
(22,852)
Adjustments for:
Depreciation charges
8,521
Interest received
(469)
Dividends received
(21,216)
Unrealised (gains)/losses on investments
(20,068)
(Increase)/decrease in stocks
-
(Increase)/decrease in debtors
(11,338)
(Decrease)/increase in creditors
9212
Net cash provided by (used in) operating activities
_(58,210)		 2023
Notes
£
Cash flows from operating activities:
Cash generated from operations
i
(58,210)
Net cash provided by (used in) operating
activities
(58,210)
Cash flows from investing activities:
Sale of fixed asset investments
-
Purchase of tangible fixed assets
-
Interest received
469
Dividends received
20,068
Net cash provided by (used in) investing
activities
20,537
Net cash inflow/(outflow)
20,537 21,411
Change in cash and cash equivalents in the
reporting period
20,537
Cash and cash equivalents at the beginning of
the reporting period
440,228
Cash and cash equivalents at the end of the
reporting period
460,765
i.
RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM
ACTIVITIES
2023
£
Net income/(expenditure) for the reporting period (as per the
statement of financial activities)
(22,852)
Adjustments for:
Depreciation charges
8,521
Interest received
(469)
Dividends received
(21,216)
Unrealised (gains)/losses on investments
(20,068)
(Increase)/decrease in stocks
-
(Increase)/decrease in debtors
(11,338)
(Decrease)/increase in creditors
9212
Net cash provided by (used in) operating activities
_(58,210)		 2022
£
(88,957)
(88,957)
-
-
92
21,319
21,411
21,411
418,817
440,228
OPERATING
2022
£
(131,133)
8,945
(92)
(21,319)
70,523
354
(5,147)
(11,088)
(88,957)

Page 10

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the Parochial Church Council of the ecclesiastical parish of Melton Mowbray (PCC) have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCC’s, and with the Regulations “true and fair view” provisions. The financial statements have been prepared in accordance with the Financial Reporting Standard Applicable in the UK and the Republic of Ireland (FRS 102 version 2016) as the applicable accounting standards and 2016 version of Accounting and Reporting by Charities: Statement of Recommended Practice (SORP(FRS102)).

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value..

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost 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.

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

Tangible fixed assets

(i) Consecrated property and moveable church furnishings

Consecrated and beneficed property is not included in the accounts in accordance with Section 96(2)(a) of the Charities Act 1993. Moveable church furnishings held before 2008 has no value placed on it in these accounts. Furniture acquired since that date has been capitalised and depreciated in the accounts over five years.

(ii) Other fixtures, fittings and office equipment

Equipment acquired will be depreciated over the estimated useful life of the asset on a straight line basis. Individual items with a purchase price of £1000 or less are written off when the asset is acquired.

(iii) Investments

Investments are valued at market value on 31 December.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds represent the funds of the Parochial Church Council (PCC) that are not subject to any restrictions regarding their use. Designated funds are also general funds but are subject to the directions of the District Church Councils. Restricted funds are subject to particular constraints regarding their use.

Fund accounting

Restricted funds are income funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the church for particular purposes. Details of the funds held and restrictions provided are shown in note 19 to the accounts.

Current assets

Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less a provision for amounts that are considered to be uncollectable.

Short term deposits include cash held on deposit either with the CBF Church of England Funds or at a bank.

Page 11

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023

2. VOLUNTARY INCOME, DONATIONS AND LEGACIES

Unrestricted
funds
R
£
Gift aid donations
81,173
Gift aid tax recoverable
21,349
Legacies
10,000
Grants
-
Non gift aid collections
16,203
Non gift aid donations
13,728
Sundry income
5,270		 147,723
~~estricted~~
funds
£
285
304
-
-
6,688
1,799
-		 9,076
2023
£
81,458
21,653
10,000
-
22,891
15,527
5,270		 156,799
2022
£
78,485
20,543
-
11,234
21,538
13,560
3,958		 149,318

3. ACTIVITIES FOR GENERATING FUNDS

Unrestricted
funds
R
£
Fundraising events
33,500
Catering
830
Lettings
55,653
Sales
1,840		 91,823
~~estricted~~
funds
£
7,302
-
7,774
-		 15,076
2023
£
40,802
830
63,427
1,840		 106,899
2022
£
41,145
756
39,597
1,488		 82,986
4.
INCOME FROM CHARITABLE ACTIVITIES
5.
INVESTMENT INCOME
Unrestricted
funds
R
£
Fees
18,408
Unrestricted
funds
R
£
Rents received
3,857
Dividends
21,216
Deposit account interest
-		 18,408
25,073
~~estricted~~
funds
£
-
~~estricted~~
funds
£
-
-
469		 -
469
2023
£
18,408
2023
£
3,857
21,216
469		 18,408
25,542
2022
£
16,170
2022
£
4,049
21,352
59		 16,170
25,460

Page 12

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023

6. EXPENDITURE ON RAISING FUNDS

==> picture [543 x 177] intentionally omitted <==

----- Start of picture text -----
Unrestricted R estricted
funds funds 2023 2022
£ £ £ £
Staff costs - - - -
Cost of sales 198 - 198 429
Fundraising events 4,987 2,905 7,892 3,888
Samworth Centre 7,309 - 7,309 8,272
- - - -
Property management fees
12,494 2,905 15,399 12,589
7. CHARITABLE ACTIVITIES COSTS
Direct costs Grant funding
(see note 10) of activities312,819Support costs 9,940 Totals 12,410 335,169
(see note 8) (see note 9)
£ £ £ £
----- End of picture text -----

Church activities

8. GRANTS PAYABLE

The total grants paid to institutions during the year was as follows:

9.
SUPPORT COSTS
Unrestricted
funds
R
£
Grants relief agencies
4,040
Unrestricted
funds
R
£
Independent examiners remuneration
4,434
Postage and stationery
4,686
Accountancy and legal fees
2,580
Bank charges
635
Advertising
-		 4,040
12,335
~~estricted~~
funds
£
5,900
~~estricted~~
funds
£
-
-
-
75
-		 5,900
75
2023
£
9,940
2023
£
4,434
4,686
2,580
710
-		 9,940
12,410
2022
£
16,343
2022
£
4,914
4,793
5,327
694
-		 16,343
15,728

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023

10. DIRECT COSTS

Unrestricted
funds
R
£
Wages
33,284
Diocesan contribution
106,100
Clergy expenses
11,239
Utility costs and insurance
84,257
Repairs & Maintenance
29,955
Major repairs
-
Furniture
-
Depreciation
-
Other direct costs
24,190		 289,025
~~estricted~~
funds
£
970
-
-
2,764
2,145
3,720
-
8,521
5,674		 23,794
2023
£
34,254
106,100
11,239
87,021
32,101
3,720
-
8,521
29,864		 312,819
2022
£
32,608
105,779
12,333
55,243
39,973
5,748
2,958
8,945
23,217		 286,804

11. TRUSTEES' REMUNERATION AND BENEFITS

The trustees who make up the Parochial Church Council are considered to be the Key Management Personnel. There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022 for their work as trustees.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.

12. STAFF COSTS

Wages and salaries
The average monthly number of employees during the year was:		 2023
£
34,254
2023
8		 2022
£
32,608
2022
8

No employees received emoluments in excess of £60,000.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY

NOTES TO THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Unrestricted Restricted Total funds funds
funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Voluntary income, donations and legacies 130,275 19,043 149,318
Activities for generating funds 72,443 10,543 82,986
Income from charitable activities 16,170 - 16,170
Investment income 25,401 59 25,460
Total 244,289 29,645 273,934
EXPENDITURE ON
Raising funds 12,070 519 12,589
Charitable activities
Church activities 280,797 38,078 318,875
Total 292,867 38,597 331,464
Net gains/(losses) on investments (70,523) - (70,523)
NET INCOME/(EXPENDITURE) (119,101) (8,952) (128,053)
Transfers between funds (500) 500 -
Net movement in funds (119,601) (8,452) (128,053)
RECONCILIATION OF FUNDS
Total funds brought forward 858,349 1,212,678 2,071,027
Previous year adjustment (99) (2,981) (3,080)
TOTAL FUNDS CARRIED FORWARD 738,649 1,201,245 1,939,894

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023

14. TANGIBLE FIXED ASSETS

COST
At 1 January 2023
Revaluations
Additions
Disposals
At 31 December 2023
DEPRECIATION
At 1 January 2023
Charge for year
Charge on disposals
At 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022
15.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 January 2023
Disposals
Revaluations
At 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022
16.
STOCKS
Stocks
17.
DEBTORS
Amounts falling due within one year:
Taxes recoverable
Other debtors
Prepayments and accrued income		 3 Church
Terrace
£
156,000
9,000
-
-
165,000
-
-
-
165,000
156,000		 Samworth
Centre
Thorpe Arnold
Hall
Furniture and
equipment
£
£
£
863,082
165,224
14,159
-
-
-
-
-
-
-
-
-
863,082
165,224
14,159
-
107,356
13,899
-
8,261
260
-
115,617
14,159
863,082
49,607
-
863,082
57,868
260
2023
£
-
43,912
2023
2022
£
£
6,869
5,210
10,331
10,453
26,712
16,911		 Totals
£
1,198,465
9,000
-
-
1,207,465
121,255
8,521
129,776
1,077,689
1,077,210
CBF
investment
funds
£
561,011
-
20,068
581,079
581,079
561,011
2022
£
-
32,574

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023

18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Accruals Other creditors

2023
£
33,040
17,911		 50,951
2022
£
29,595
12,144		 41,739

19. MOVEMENT IN FUNDS

At 1.1.23
Net movement
in funds
Transfers
between funds
£
£
£
Unrestricted funds
Burton Lazars: St James
17,884
297
-
Freeby: St Mary's
3,803
(39)
-
Melton Mowbray: St Mary's
686,948
(22,859)
-
Sysonby: St Leonard's
12,006
3,890
-
Thorpe Arnold: St Mary The Virgin
14,476
1,340
816
Welby: St Bartholemew's
6,375
1,619
-
Centre general
(2,843)
974
-
738,649
(14,778)
816
Restricted funds
Melton Mowbray: St Mary's
215,324
(406)
-
Thorpe Arnold: St Mary The Virgin - Village
hall
79,287
(9,562)
(816)
Thorpe Arnold: St Mary The Virgin - Bread
Fund
1,049
-
-
Thorpe Arnold: St Mary The Virgin - Building/
organ fund
6,367
717
-
Welby: St Bartholemew's - fabric fund
7,227
(2,044)
653
Education and youth fund
6,977
-
-
Centre restricted
867,254
-
-
Burton Lazars building cost reserve
17,107
2,185
-
Welby: St Bartholemew's – 50-50 Club
653
633
(653)
1,201,245
(8,477)
(816)
TOTAL FUNDS
1,939,894
(23,255)
-		 At 31.12.23
£
18,181
3,762
664,089
15,896
16,632
7,994
(786)
724,687
214,918
68,909
1,049
7,084
5,836
6,977
867,254
19,292
633
1,191,952
1,916,639

Page 17

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023

20. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Fees
Burton Lazars: St James
Freeby: St Mary's
Melton Mowbray: St Mary's
Sysonby: St Leonard's
Thorpe Arnold: St Mary The Virgin
Welby: St Bartholemew's
Centre general
Restricted funds
Melton Mowbray: St Mary's
Thorpe Arnold: St Mary The Virgin - Village
hall
Thorpe Arnold: St Mary The Virgin – Bread
fund
Thorpe Arnold: St Mary The Virgin - Building/
organ fund
Welby: St Bartholemew's - fabric fund
Education and youth fund
Centre restricted
Burton Lazars building cost reserve
Welby: St Bartholemew's – 50-50 Club
TOTAL FUNDS		 Incoming
resources
£
10,589
8,120
30,061
518
144,720
6,682
23,916
6,418
52,005
283,029
10,212
10,465
-
717
101
-
-
2,185
941
24,621
307,650		 Resources
expended
Gains and
losses
Movement in
funds
£
£
£
(10,589)
-
(8,120)
(29,764)
-
297
(557)
-
(39)
(187,666)
20,087
(22,859)
(2,792)
-
3,890
(22,576)
-
1,340
(4,799)
-
1,619
(51,031)
-
974
(317,894)
20,087
(14,778)
(10,618)
-
(406)
(20,027)
-
(9,562)
-
-
-
-
-
717
(2,145)
-
(2,044)
-
-
-
-
-
-
-
-
2,185
(308)
-
633
(33,098)
-
(8,477)
(350,992)
20,087
(23,255)

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023

21. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted Funds
Burton Lazars: St James
Freeby: St Mary's
Melton Mowbray: St Mary's
Sysonby: St Leonard's
Thorpe Arnold: St Mary The Virgin
Welby: St Bartholemew's
Samworth Centre general
Restricted Funds
Melton Mowbray: St Mary's
Thorpe Arnold: St Mary The Virgin - Village
hall
Thorpe Arnold: St Mary The Virgin – Bread
fund
Thorpe Arnold: St Mary The Virgin - Building/
organ fund
Welby: St Bartholemew's - fabric fund
Education and youth fund
Samworth Centre restricted
Burton Lazars building cost reserve
Welby: St Bartholemew's - project fund
TOTAL FUNDS		 At 1.1.22
Net movement
in funds
Transfers
between funds
At
£
£
£
18,222
(338)
-
4,405
(602)
-
785,165
(98,217)
-
12,222
(216)
-
13,596
880
-
6,380
495
(500)
18,359
(21,202)
-
858,349
(119,200)
(500)
212,054
3,270
-
89,503
(8,016)
(2,200)
1,239
(190)
-
8,871
(4,704)
2,200
9,036
(2,948)
1,139
6,976
1
-
867,253
1
-
17,107
-
-
639
653
(639)
1,212,678
(11,933)
500
2,071,027
(131,133)
-		 At 1.1.22
Net movement
in funds
Transfers
between funds
At
£
£
£
18,222
(338)
-
4,405
(602)
-
785,165
(98,217)
-
12,222
(216)
-
13,596
880
-
6,380
495
(500)
18,359
(21,202)
-
858,349
(119,200)
(500)
212,054
3,270
-
89,503
(8,016)
(2,200)
1,239
(190)
-
8,871
(4,704)
2,200
9,036
(2,948)
1,139
6,976
1
-
867,253
1
-
17,107
-
-
639
653
(639)
1,212,678
(11,933)
500
2,071,027
(131,133)
-		 31.12.22
£
17,884
3,803
686,948
12,006
14,476
6,367
(2,843)
738,649
215,324
79,287
1,049
6,367
7,227
6,977
867,254
17,107
653
1,201,245
1,939,894

Page 19

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023

22. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Burton Lazars: St James
Freeby: St Mary's
Melton Mowbray: St Mary's
Sysonby: St Leonard's
Thorpe Arnold: St Mary The Virgin
Welby: St Bartholemew's
Samworth Centre general
Restricted funds
Melton Mowbray: St Mary's
Thorpe Arnold: St Mary The Virgin - Village
hall
Thorpe Arnold: St Mary The Virgin – Bread
fund
Thorpe Arnold: St Mary The Virgin - Building/
organ fund
Welby: St Bartholemew's - fabric fund
Education and youth fund
Samworth Centre restricted
Burton Lazars building cost reserve
Welby: St Bartholemew's - project fund
TOTAL FUNDS		 Incoming
resources
£
15,857
29,923
6
129,074
1,771
23,103
6,971
37,584
244,289
18,579
8,991
330
377
396
1
1
-
970
29,645
273,934		 Resources
expended
Gains and
losses
Movement in
funds
£
£
£
(15,857)
-
-
(30,261)
-
(338)
(608)
-
(602)
(156,768)
(70,523)
(98,217)
(1,987)
-
(216)
(22,223)
-
880
(6,476)
-
495
(58,786)
-
(21,202)
(292,966)
(70,523)
(119,200)
(15,309)
-
3,270
(17,007)
(520)
-
-
(8,016)
(190)
(2,100)
-
(1,723)
(3,344)
-
(2,948)
-
-
1
-
-
1
-
-
-
(317)
-
653
(38,597)
-
(8,952)
(331,563)
(70,523)
(128,152)

23. RELATED PARTY DISCLOSURES

The Parochial Church Council is a related party of St Mary’s Church Melton Mowbray Development CIO by virtue of common trustee control. St Mary’s Church Melton Mowbray Development CIO exists to advance the Christian faith by the preservation, repair, maintenance, restoration and improvement of the fabric of St Mary’s Church Melton Mowbray as a place of Christian worship.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF MELTON MOWBRAY

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023

24. FUNDS

Parish Funds:

The Samworth Development Fund is to be spent on the development and upkeep of the Samworth Centre. The Education and youth fund is to be spent on education within the parish.

Burton Lazars Funds:

The Burton funds are for the refurbishment of the church building and the Squire’s Monument.

Melton Mowbray Funds:

Some investments are held in the name of Leicester Diocesan Board of Finance as custodian trustee, entitled Church Chimes, Free-Will Offering, Sunday School and Church Institute, Assistant Clergy, Choir, Organists and Curates Funds. All income from these funds goes to the General Fund whose aims include those of these funds. It is intended to transfer the title.

The Music Fund has income to be spent on music within the church

The Organ Fund has income to be spent on the upkeep of the church organ.

The St Mary's Church Trust has income to be spent on the upkeep of the church

Thorpe Arnold Funds:

The Village Hall Fund is to be spent on running, upkeep, maintenance and obligations of the Village Hall The Bread Fund is to be spent in supporting work with children

The Building / Organ Fund is to be spent on maintaining the fabric of the building and organ.

Welby Funds:

The fabric fund is for use on the upkeep of the fabric of the church.

Unrestricted Funds:

Unrestricted funds of each church relate to individual church general funds, available only for use relating to that church. The PCC and individual churches also designate other funds under their control to be used for purposes which are evident from their titles. These funds are occasionally reviewed to ensure that they are still required for their purpose. Where these funds are in deficit, this relates to unpaid diocesan share, a debt which the diocese accepts will be paid when funds allow.

Page 21