## **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 FkF*W 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 r*Jnb•rTrw¢ FL*1 &rthd•y Fthj I￿n 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 Fu￿j 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 consh*ration 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 c￿￿1t1Y 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