The Abbey and Parish Church
of
St Peter and St Paul Registered Charity in England and Wales No. 1132631
Financial Statements Year ending 31 December 2024
Incumbent: Revd Fr.Stephen Buckman The Vicarage Church Walk Bourne Lincs
Bank: HSBC Bank PLC Peterborough
Independent Examiner Hazel Bell 16 Great Northern Gardens Bourne PE10 9EH
Page 1
Financial Review of Year 2024
The financial performance in 2024 continued to improve with a very strong last quarter. High inflation and energy costs continued to dominate concerns about expenditure but all areas of giving grew significantly, especially donations, to help produce a surplus of £14,633.
The General Fund compared to 2023 showed an increase in Total Income of £12,466 or 14% and a Total Expenditure increase of £13,194 or 18%.
The Total Voluntary Income (Individual Donations) shows an increase of £2,099 or 2.9%. In addition to this there were a number of significant one-off donations / bequests totalling £60,000 that are included in the Fabric Unrestricted Account which is used to support this Fund in achieving specific improvements in the Share payments. This year an additional £6,000 has been paid over the planned Share level of £39,000.
Other one-off receipts included £6,967 from delayed fees and £1,057 from delayed donations. Delayed Diocesan Fees of £4,229 were also received and paid to the Lincoln Board of Finance.
The main voluntary income from planned giving, gift aid and cash offerings increased by £4,632 or 10% to make a total of £52,393.
Activities to generate funds produced an increase of £605 to make a total of £7,306 including £5.000 from the Social Committee.
The church heating expenditure was also helped by a one-off refund of £1,305 recovered from a disputed meter issue in 2022.
The delayed receipts, refunds and other income benefits enabled a sum of £20,000 to be transferred to the Fabric Unrestricted Account to take advantage of interest payments.
The Hall & Sunday School Fund had a surplus of £1,975 (was £1,271 in 2023) with Hall Letting increasing by14% to £13,883.
The Fabric Fund had a significantly increased income of £62,949 (was £5,546 in 2023) benefiting from a few large donations / bequests. An additional £20,000 was also received from the General Fund (see above).
A total expenditure of £31,739 covering items in both Church and Hall buildings included a new sound system, tower repairs, roof repairs, toilet refurbishments, and a new hot water boiler.
The fund had a surplus of £51,210 with a total balance of £409,946 which is allocated to restricted accounts Restoration £229,042 and Fabric £80,180 and to unrestricted account £100,723.
Accounting policies
The following statements have been prepared in accordance with the Church Accounting Regulations 2015 together with applicable accounting standards and the Charities SORP.
As the total of both income and expenditure as shown is in excess of £100,000 the Accounts have been prepared on an Income and Expenditure basis, making adjustments for sums due to the PCC and amounts owing by the PCC as at 31st December 2024. No account has been taken of any increase or decrease in the value of investments in the preparation of the accounts. The value of the investments as notified by the CBF and the COIF is stated by way of note on the Balance Sheet.
The PCC owns no material assets other than those shown by way of note on the Balance Sheet. These have not been valued as no sale is anticipated.
Due to the rounding of figures to the nearest whole £1 some of the columns may not appear to add up correctly.
The notes referred to in the accounts and included at the end of the accounts are by way of information and do not form part of the statutory accounts Receipts and Payments Account.
Page 2
Receipts and Payment Account
General - General fund (Unrestricted)
| Receipts Incoming resources from generated funds 060 - Bank Interest HSBC 061 - Interest CBF Total Incoming resources from generated funds Voluntary income 051 - Planned Giving NGA 052 - Gift Aid 053 - Cash Offerings 054 - Baptisms, Weddings, Funerals, Homes 056 - Donations 063 - Income Tax Repayment Total Voluntary income Activities for generating funds 057 - Events 090 - Receipts from Social Committee 091 - Magazine Advertising Total Activities for generating funds Investment income 062 - Trust Income 093 - Clergy Expense Fund Interest Total Investment income Other incoming resources 055 - Parish Fees 070 - Diocesan Fees Total Other incoming resources Total Receipts Payments Charitable activities 076 - Mission Giving Total Charitable activities Other resources used 072 - Funeral Collections Contra Expend 087 - Assigned Fees Expend contra to acc 070 Total Other resources used Church Administration 077 - Diocesan & Deanery Share 078 - Electricity 079 - Heating 080 - Cleaning & Sundry 081 - Insurance 082 - Church Services (Wine, Wafer, Candles) 083 - Staff Costs 086 - Other Repairs 088 - Printing & Stationery 089 - Clergy & Office Expenses Total Church Administration Total Payments Excess of Incoming resources over Resources used Brought forward balance Transfers to/(from) Carried forward balance |
Total funds Prior year funds 1 1 12 9 |
|---|---|
| 13 9 2,829 3,496 41,708 37,335 7,856 6,930 2,102 2,355 6,809 8,739 11,971 12,319 |
|
| 73,274 71,175 2,099 1,451 5,000 5,000 207 250 |
|
| 7,306 6,701 244 240 2,888 2,719 |
|
| 3,132 2,959 12,808 4,218 4,229 3,234 |
|
| 17,037 7,451 |
|
| 100,762 88,296 — 150 |
|
| — 150 (156) — 4,229 3,234 |
|
| 4,073 3,234 45,000 29,025 1,202 2,835 7,323 11,615 328 395 8,469 8,089 1,742 3,311 5,766 5,416 5,512 5,717 3,404 1,738 3,310 1,410 |
|
| 82,056 69,552 |
|
| 86,129 72,935 14,633 15,360 38,219 22,859 (20,000) — |
|
| 32,852 38,219 |
Page 3
| B-Hall - Hall & Sunday School Fund (Designated) Receipts Incoming resources from generated funds 232 - Hall & SS Interest CBF Total Incoming resources from generated funds Voluntary income 230 - Hall & SS Donations & Grants Total Voluntary income Activities for generating funds 231 - Hall & SS Hire of Hall Total Activities for generating funds Total Receipts Payments Church Administration 080 - Cleaning & Sundry 236 - Hall Electricity 237 - Hall Heating 238 - Hall Insurance 239 - Hall Water & Sewage 240 - Hall Repairs and Renewals 241 - Hall Caretaker & Opening Fees 243 - Hall Sundry Expenses Total Church Administration Total Payments Excess of Incoming resources over Resources used Brought forward balance Carried forward balance C-SocCom - Social Committee Fund (Designated) Receipts Incoming resources from generated funds Activities for generating funds 105 - Social Committee Events 107 - Social Committee 59 Club Receipts Total Activities for generating funds Total Receipts Payments Cost of generating funds Cost of generating voluntary income 113 - Social Committee 59 Club Prizes Total Cost of generating voluntary income Fundraising trading cost of goods sold and other costs 111 - To PCC Account (transfer) Total Fundraising trading cost of goods sold and other costs Other resources used 110 - Social Club Expenses Total Other resources used Total Payments Excess of Incoming resources over Resources used Brought forward balance Carried forward balance |
400 239 |
|---|---|
| 400 239 15 — |
|
| 15 — 13,883 12,205 |
|
| 13,883 12,205 |
|
| 14,298 12,444 — 35 881 2,266 1,388 976 677 669 802 709 2,522 869 5,974 5,561 79 87 |
|
| 12,322 11,173 |
|
| 12,322 11,173 1,975 1,271 21,882 20,610 |
|
| 23,857 21,882 4,355 6,283 2,612 3,389 |
|
| 6,967 9,672 |
|
| 6,967 9,672 1,290 1,350 |
|
| 1,290 1,350 5,000 5,000 |
|
| 5,000 5,000 1,414 2,729 |
|
| 1,414 2,729 |
|
| 7,704 9,079 (737) 593 3,167 2,574 |
|
| 2,430 3,167 |
Page 4
| D-Fabric - Fabric Fund (Designated) Receipts Incoming resources from generated funds 125 - Fabric Interest CBF 126 - Fabric Interest HSBC Total Incoming resources from generated funds Voluntary income 120 - Fabric Donations Total Voluntary income Total Receipts Payments Church Administration 130 - Fabric Repairs 131 - Fabric Quinquennial Repairs Total Church Administration Total Payments Excess of Incoming resources over Resources used Brought forward balance Transfers to/(from) Carried forward balance E-ClergyEx - Clergy Expense Fund (Designated) Brought forward balance Carried forward balance F-BaxNWe - T M Baxter Fund (Designated) Receipts Incoming resources from generated funds 150 - T M Baxter Interest Total Incoming resources from generated funds Total Receipts Excess of Incoming resources over Resources used Brought forward balance Carried forward balance G-Dunbar - Dunbar Trust Fund (Designated) Receipts Incoming resources from generated funds 155 - E C Dunbar Interest CBF 156 - E C Dunbar Interest HSBC Total Incoming resources from generated funds Total Receipts Excess of Incoming resources over Resources used Brought forward balance Carried forward balance |
32 19 717 426 |
|---|---|
| 749 446 62,200 5,100 |
|
| 62,200 5,100 |
|
| 62,949 5,546 25,005 44,603 6,734 — |
|
| 31,739 44,603 |
|
| 31,739 44,603 31,210 (39,058) 358,736 396,320 20,000 1,474 |
|
| 409,946 358,736 6,076 6,076 |
|
| 6,076 6,076 32 31 |
|
| 32 31 |
|
| 32 31 32 31 605 573 |
|
| 636 605 101 99 43 30 |
|
| 144 130 |
|
| 144 130 144 130 2,305 2,176 |
|
| 2,450 2,305 |
Page 5
| H-Bell - Bell Fund (Restricted) Receipts Incoming resources from generated funds 162 - Bell Interest HSBC 163 - Bell Interest CBF Total Incoming resources from generated funds Voluntary income 161 - Bell Donations Total Voluntary income Total Receipts Payments Church Administration 166 - Bell Repairs Total Church Administration Total Payments Excess of Incoming resources over Resources used Brought forward balance Carried forward balance J-Birthday - Birthday Fund (Designated) Receipts Incoming resources from generated funds 172 - Birthday Interest CBF Total Incoming resources from generated funds Total Receipts Excess of Incoming resources over Resources used Brought forward balance Transfers to/(from) Carried forward balance K-Organ - Organ Fund (Designated) Receipts Incoming resources from generated funds 181 - Organ Interest HSBC 182 - Organ Interest CBF Total Incoming resources from generated funds Activities for generating funds 183 - Band Total Activities for generating funds Total Receipts Payments Church Administration 185 - Organ Repairs incl Piano Total Church Administration Total Payments Excess of Incoming resources over Resources used Brought forward balance Carried forward balance |
4 3 567 399 |
|---|---|
| 571 402 20 12 |
|
| 20 12 |
|
| 591 414 3 2 |
|
| 3 2 |
|
| 3 2 588 412 10,851 10,439 |
|
| 11,439 10,851 5 3 |
|
| 5 3 |
|
| 5 3 5 3 88 1,558 — (1,474) |
|
| 92 88 49 34 183 128 |
|
| 231 162 546 — |
|
| 546 — |
|
| 777 162 672 220 |
|
| 672 220 |
|
| 672 220 105 (58) 5,675 5,732 |
|
| 5,780 5,675 |
Page 6
L-Choir - Choir Fund (Designated)
| Receipts Incoming resources from generated funds 192 - Choir Interest HSBC 193 - Choir Interest CBF Total Incoming resources from generated funds Total Receipts Payments Church Administration 197 - Choir RSCM Fee Total Church Administration Total Payments Excess of Incoming resources over Resources used Brought forward balance Carried forward balance M-Flower - Flower Fund (Designated) Receipts Incoming resources from generated funds 200 - Flower Interest HSBC Total Incoming resources from generated funds Voluntary income 201 - Flower Donations Total Voluntary income Total Receipts Payments Church Administration 209 - Cost of Flowers Total Church Administration Total Payments Excess of Incoming resources over Resources used Brought forward balance Carried forward balance N-ParishCl - Parish Clerk Fund (Restricted) Brought forward balance Carried forward balance O-YClubC - Youth Club Fund (Restricted) Receipts Incoming resources from generated funds 221 - Youth Club Interest CBF Total Incoming resources from generated funds Total Receipts Excess of Incoming resources over Resources used Brought forward balance Carried forward balance |
4 5 0 1 |
|---|---|
| 4 5 |
|
| 4 5 270 127 |
|
| 270 127 |
|
| 270 127 (266) (122) 305 426 |
|
| 39 305 34 22 |
|
| 34 22 580 437 |
|
| 580 437 |
|
| 614 459 501 415 |
|
| 501 415 |
|
| 501 415 113 45 1,501 1,456 |
|
| 1,614 1,501 205 205 |
|
| 205 205 51 36 |
|
| 51 36 |
|
| 51 36 51 36 954 919 |
|
| 1,005 954 |
Page 7
Balance shwt Totst fulld$ Prior ear funds 350 fXXI 3.921 140,5 141.421 3.921 95.148 IOD.569 148.421 100.509 400,569 GBrnrnI fur 38,219 H•n 8 Surth Sd#x4Fw FkFW Fw¥J 23.657 1.614 2,4X) 21,8V2 1,301 3.187 358.736 6.076 FabricFuTrJ 6.076 T U Baxtyr Fuftl rJnb•rTrw¢ FL*1 &rthd•y Fthj In FuTrJ 2.49J 2.305 5.7 5,675 BWI Furrtl Paroh Fi Y¢yJth c Fw 10.B51 9Y 8S.823 1.157 380.773 83.707 FuTrJ CBF Irhxbm•rt Fuj fLt6 92 th•[ Page 8 Page 8
Statement of assets and liabilities
| General Designated Restricted Endowment |
This year Last year |
|
|---|---|---|
| Fixed assets - Investments Fabric Fund Investment Shares Accumulati - Totals Current assets - Cash at bank and in hand General Current HSBC - General Deposit HSBC - Hall & Sunday School HSBC - Bell Deposit HSBC - Choir Deposit HSBC - Dunbar Deposit HSBC - Fabric Deposit HSBC - Flower Deposit HSBC - Organ Deposit HSBC - Parish Clerk Deposit HSBC - General Deposit CBF - Sunday School Deposit CBF - Bell Deposit CBF - Birthday Deposit CBF - Choir Deposit CBF - Fabric Deposit CBF - Organ Deposit CBF - Thomas Moore Baxter Deposit Nat West - Parish Clerk Deposit CBF - Clergy Expenses Deposit CBF - Social Committee - Youth Club Deposit CBF - Totals Current assets - Debtors Accounts Receivable - Totals Current assets - Investments Clergy Expenses Investment COIF - Thomas Moore Baxter Investmnet COIF - Dunbar Trust CBF - Totals Grand total |
— 350,000 — — |
350,000 350,000 |
| — 350,000 — — 28,779 (35) — — 33 — — — — 17,642 — — 15 — 184 — — 36 — — — 2,282 — — — 59,921 — — — 1,614 — — — 2,158 — — — — 0 — 25 — — — — 6,250 — — — — 11,255 — — 92 — — — 3 — — — 500 — — — 3,622 — — — 111 — — — — 205 — — 2,373 — — — 2,430 — — — — 1,005 — |
350,000 350,000 28,744 36,611 33 33 17,642 15,667 199 179 36 302 2,282 2,138 59,921 8,711 1,614 1,501 2,158 2,236 0 0 25 25 6,250 6,250 11,255 10,688 92 88 3 3 500 500 3,622 3,439 111 79 205 205 2,373 2,373 2,430 3,167 1,005 954 |
|
| 28,852 98,999 12,649 — 4,000 — — — |
140,500 95,148 4,000 1,500 |
|
| 4,000 — — — — 3,703 — — — 57 — — — 161 — — |
4,000 1,500 3,703 3,703 57 57 161 161 |
|
| — 3,921 — — |
3,921 3,921 |
|
| 32,852 452,920 12,649 — |
498,421 450,569 |
Page 9
Statement of Financial Activities
| Funds | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | Prior | ||
| Year | ||||||
| Incoming resources | ||||||
| Incoming resources from generated funds | 1,611 | 622 | — | 2,232 | 1,485 |
|
| Voluntary income | 136,069 | 20 | — | 136,089 | 76,724 | |
| Activities for generating funds | 28,701 | — | — | 28,701 | 28,578 | |
| Investment income | 3,132 | — | — | 3,132 | 2,959 | |
| Other incoming resources | 17,037 | — | — | 17,037 | 7,451 | |
| Total incoming resources | 186,551 | 642 | — | 187,192 | 117,197 | |
| Resources used | ||||||
| Cost of generating funds | ||||||
| Cost of generating voluntary income | 1,290 | — | — | 1,290 | 1,350 | |
| Fundraising trading cost of goods sold and other | 5,000 | — | — | 5,000 | 5,000 | |
| Charitable activities | — | — | — | — | 150 | |
| Other resources used | 5,487 | — | — | 5,487 | 5,963 | |
| Church Administration | 127,560 | 3 | — | 127,563 | 126,091 | |
| Total resources used | 139,337 | 3 | — | 139,340 | 138,554 | |
| Net income / (expenditure) | 47,214 | 638 | — | 47,852 | (21,356) | |
| Transfers | ||||||
| Gross transfers between funds - in | 20,000 | — | — | 20,000 | 1,474 | |
| Gross transfers between funds - out | (20,000) | — | — | (20,000) | (1,474) | |
| Net income / (expenditure) | 47,214 | 638 | — | 47,852 | (21,356) | |
| Other recognised gains / losses | ||||||
| Gains / losses on investment assets | — | — | — | — | — | |
| Gains on revaluation, fixed assets, charity's own use | — | — | — | — | — | |
| Net movement in funds | 47,214 | 638 | — | 47,852 | (21,356) | |
| Reconciliation of funds | ||||||
| Total funds brought forward | 438,558 | 12,010 | — | 450,569 | 471,925 | |
| Total funds carried forward | 485,772 | 12,649 | — | 498,421 | 450,569 |
Page 10
Independent Exarniner's Report to the 8ourne Parochial Church Council of The Parish & Abbey Church ol St Peter and St Paul. I report on the accounts for the year ended 311t December 2024 are set out the annexed pages. Resptictive responsibilities of the Trustws arbd Indepermlent Examinor The charity's Iruslees consKler that an audrt is not required for thts year urKler seclw 144121 of the Cha¥Éties Act 2011 (the 2011 Act) and that an irthJepeThJenl examination needed. It is my re¥ponsitrf'lty to.. examine the acctyjnts urthr section 145 of the 2011 Act. follow the wocedures laKI dwi in Ihe General Directi$ given by the Charity Commissioners section 1451511bl of the 2011 A(a.' and stale whether particular mattws have come to my attention. Ba818 of Indep8ndenl Examineffs Statem•nt My examination was carried out in xcordarKZ tplth the General "re(alon5 given by t Charity Ccwnmission. An examination includes a review of the accwnliry reccrfds kept by the tharty and comparison of the accounts presented with those records. 11 also indudes conshration of any unusual rtems or disclosures in the accounts and seekirwJ explanalions from the management commrtlee concemir4J any such matters The procedures urthrtaken do not Pfovide all the evidence that would be required in a full and c1t1Y I do not express an audrt opinion on the accounts Ind•p•nd•nl Examln•e Staternent In connection with my examination. no matters have come to my attention.. 1. which gbve me reasonab cause to believe that in any material respèct the requirements lo keep accounting records in awdance with s.130 of the 2011 AG*." or lo prepare accounls wfiich accord wtth these accountiTr3 reccKts have nol téen met,. or 2. to which, in my opinion, attention be drawn wi order lo enabbe a underslarKliryJ of the accounts lo be ffjached. Hazel Bell. FCCA 16 Great Northem Gardern. Bourne Date.. IIV4 ISJL Page 11