PAROCHIAL CHURCH COUNCIL OF ST. PAARY AND ST. NICOLAS, SPALDING
CHARI￿ COMMISSION REGISTERED NUMBER 1132847
ANNUAL REPORT
AND
FINANCIAL STATEMENTS
OF THE
PAROCHIAL CHURCH COUNCIL
For the year ended 31st December 2022
Incumb•nt:
The ReTr/d J D Bennett
The Parsonage
1 Halmer Gate
Spalding
PE112DR
Independent examinor:
Andrew Smrth FCA
Salway and Wright
32 The Crescent
Spalding
PE11 1AF

THE PARISH OF ￿ MARY AND ST NICOLAS SPALDING
ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL
FOR THE YEAR ENDED 31Fr DECEMBER 2022
Mlsslon Statement
We alm to be a loving ond welcoming Christion community-. honouring God in worship, following Christ in our lives
and porticipating in his Mission.
Administrative infonnation
The parish church of St Mary and St Nicolas is situated in Church Street, Spalding. It is part of the Deanery of Elloe
West within the Diocese of Lincoln within the Church of England. The correspondence address is The Parish Office,
l Halmer Gate, Spaldin& PEII 2DR.
The Parochial Church Councll IPCCI of the Ectlesiastlcal Parish of St Mary & St Nicolas Spalding is a registered
charity (Registered number 11328471-
PCC members who have seNed from l January 2022 until the date of the Annual Parochial Church Meeting are:
Incumbent..
The Revd John Bennett (Choir)
Other clergy..
The Revd Aileen Workman IAssociate Vicor)
Readers..
Or Peter Gorton, Mrs Sue Slater
Wordens..
Mrs Jean Hill (L¢iy vice choir) and Mr5 Penny Adams
Generolsynod representotive..
Mrs Sue Slater
Representatives on the Elloe West Deonery Synod elerted October 2020..
Mr David Clements and Mrs Sue Slater
Elected member5.'
Retired In 2022 Mrs Ann Howard and Mr Adriaan van Egmond
Retiring in 2023 Mr Robert Molson and Mr Nicholas Pitts
Retlrlng In 2024 Mr Rlchard Chadd (RIP November2021), Mrs Valerie Fairbanks, Mr John Holmes and Mrs Julie
Laithwatte
Retlrlng In 2025 Mrs Wendy Chew
Co-opted member Mrs Robyn Firth
The ParSsh Admlnlstrator. Dr Sarah Chadd, acts as the Secretoryto the PCC.
Strurture* govemance and management
The method of appointment of PCC members is Set out in the Church Representation Rule5. Representatives of the
parishioners are elected for three yeats, with a third retirin8 each year land being eligible for re*lertionl- All church
attendees are encouraged to register on the Electoral Roll and stand for election to the PCC.
The PCC has ultimate responsibillty for such matters as compllance with health and safety, disability discrlmlnatlon
legislation and safeguarding: these matters are kept under review by the PCC through its committees and staff.
The PCC operates through a number of committees and teams including:
l. The Standing Committee is the only committee required by law. It has power to transad the business of the
PCC between its meetings. subject to any dirertions given by the Council. It meets before each PCC lo agree an
agenda
Z. The Finance Team manages, rnonitors and reports the finances of the PCC
The Property Committee manages, maintains and develops PCC property including the church buildin&
churchyard and boundaries, with oversight of St Nicolas Church Hall. The Vista
The Hall Monogement sub-committee adminssters all aspects of the upkeep and running of the Church Hall.
It oversees the public and church use of the h311.
The list of members of the various committees and teams. the scheme of delegation to each committee and the
terms of refe￿nce are available from the Parish Office to any member of the Elertoral Roll who requests a copy.
Objectives and activtties
The PCC has the responsibility of ccFoperatin8 With the Vicar in promoting in the ecclesiastical parish the whole
mission of the Church. pastoral, evangelistic, social and ecumenical. It also has maintenance responsibilities for the
parish church and for the St Nicolas Church Hall in The Vista.

The parish is part of the Deanery of Elloe West. It is a member of the Spalding group of parishes. with St Paul's and
St john the Baptist. The church is now also a member of the 5palding Local Mission Partnership, which also includes
churches in the Glen, Gosberton and Weston 8roups.
The PCC cooperates with joint ecumenical activlties.
Connected charity
The PCC acknowledges the signrficant SUPPOrt received from the Spalding Rectory Feoffees, a registered charity. A
number of members of the PCC serve as Feoffees Itrusteesl.
The Feoffees pay the stipend of and provide the accommodation for the incumbent. In addition. they pay the
stipend of the part-time post of the Associate Vicar which includes the provision of housing. They own The
Parsonage, 18 Maple Grove and 6 Charnbers Court Ipreviou51y leased to the 010￿$e and occupied by the curate but
now a private let). They also own the Parish Office lin the gmunds of the Parsonage). In recent years, they have
been able to make an annual donation to the PCC plus additional 8rants to the Church Hall. As Patrons. the Feoffees
present a new incumbent to the bishop.
Achievements and perfomiance
Church attendance
Following the revSsion of the Elertoral Roll in 2022, there were 160 people on the Electoral Roll. A number of those
on the Roll were not resident within the parish. The Electoral Roll will be revised in advance of the 2023 APCM.
Attendan￿ throughout the year continued to improve following the impact of the Coronavirus pandemlc.
Measures to minlmise the risk of transmission have gradually been removed. There is a Service at 10.30am on a
Sunday morning which continues to be livestreamed as well as belng available afterwards on line and Evensong at
6.30pm. Average weekty attendance, is estimated to be 75 adults and 15 under 16's. Previously Sunday attendance
at 4 seNices w3$ 140 adufts with an average of 35 children and young people mainly due to the number of boys in
the tholr. The number of people regularly enga8in8 wlth the livestreamed/recorded worship is e51imated to be
about 6 but the livestreams are accessed by a larger number of people.
Review of the year
The impact of the Coronavirus pandemic and measures to control this have tontlnued to have an Impact. There
are no aspects of church Ilfe that remain unaffected although actlvlties have contlnued to resume throughout
the year.
2 Church meetings have contlnued and attendance was good. The PCC visited Edenham Regional House for a
planning day in September and with the help of Bishop Nicholas, used the time to begin a review of the Parish
Mission Plan.
3 The PCC has continued to engage with the Dlocese of Lincoln's Time to Change Together, initiat¢ve which alms
to develop sustainable church. The PCC previously identified itself as a Type 2 Local Mission church and agreed
to Covenant a Parish Share of £20,LKM) p.a. for the next 3 years. When setting a budget for 2023, thls was
reviewed and increased to £25,IXIO. This covers the cost of ministry as well as contributing to the common
fund. The Parlsh Is working alongside other parishes in the development of Local Misslon Partner5hip5.
Aileen Workman contlnues as Associate Vicar. This part-time post is funded by the Feoffee5. Revd Michael
Bullock assists when he is not ministering in the Diocese of Europe. Mrs Sue Slater continues to preach and lead
worshlp as a Reader in the parlsh. Dr Peter Gorton's health continues to restrict his role as a Reader.
Porish loy ministers
5 Jean HS11 (Parish visitor) continues as an Authorised Lay Minister and Sue Houghton as the Baptism Co-
ordinator. The lifting of Coronavirus restridions has enabled Claire Dickens to resume a more active role as
head server.
The church building, its development, mointenonce ond ornoments
6 Essential routine maintenance and repair has continued. The remodelling of the existing shop to create a fully
accesslble shop and toilet was completed in March 2022 and a5 hoped, has proven to be a valuable addition to
the welcome offered. The PCC is now focussing on the heating of the building. The existing system has become
a concern, with the gas boilers becoming more unreliable and parts more difFicult to source. In addition, there
have been a number of signrficant leak5 in underAoor pipework. Works to restore a number of floor ledgers and
clean the Elizabeth Johnson memorial and plans for beswke storage for church linen and altar frontals have
been delayed. Thi5 was partly because of Covid and partly to enable the financing of the shop to be settled
before committing to future expenditure. The Friends of Spalding Parish Church,, which has SUPPOrted the
church for many years, was wound up in 2022 and the remaining funds transferred to the PCC to contribute to
this work alongside the Brassington Legacy. In addition to the above, the Quinquennial Inspection is due and

there will be work arising from this. The PCC is fortunate in having a substantial fund for much of this work
thanks to the generosity of previous generations who have left endowed funds and grants will be sought for the
larger repair costs.
7 St Nicolas Church Hall
The Hall continues to be a popular venue and hosts a variety of exercise. dance and martial arts da55es as well
as social groups and societles.
Remedial work to rewire areas of the I￿lIdIng required following the EICR {fve yearly inspection of the
installationl was completed as was the refvrbishment of the kitd)en. Metsl framed wlndows in the kitchen and
Main Hall were replaced. The Feoffees generously provided a grant of f25,0(Kl for this and a further grant of
£5,CKJO was also secured from Morden College which was recefved in early 2023.
In addition to the Feoffees, grant, letting income for the year was £18.358. There was expendlture of £48.130
resuhing in a deficit of £4.772 for the period. The year-end balance was £23.032.
There are plans to repla￿ further metal framed windows in 2023 to improve enew efficiency as well as the
safety and appearance of the building.
Ministry amongst children ond young people
8 The PCC is committed to offering music as a means of outreach to children, young people and their families.
The men and boys Choir continued to recover through04Jt the year. Girls have been recruited to the Cholr and
Alexandra Stacey appointed as the Girls. Choir Dlrector.
Flowerfestivol
9 The Queen's Platinum Jubilee was celebrated wrth a flower festival in June 2022, the first sinte 2019.
Ottoslon¢71 offices
10 Opportunities for pastoral contact with people from Spaldin8 through the regular ministry at baptisms1331,
marria8e$171 and funerals115 in church and a further 21 at Crematorla or the Cemetery) tontinue.
Relotlonship wlth schools
11 We welcomed groups from various schools In the district for educatlonal visits and. for the flrst tlme slnce
December 2019. Spaldin8 sthools came to the church for Christmas serVi￿S durln8 December 2022. Cler8Y
resumed attendance and leading Collective Worship at Spalding Parish Church School and AysCQU8hfee School.
The relatlonship wilh Spalding Parish Church School remains important. Since the school jolned the Lincoln
Angllcan Academy Trust In 2020, the PCC does not appoint any governors. Revd John Bennett and Revd Alleen
Workman were members of the local council in 2022, until resiqnaticln.
Ecumenlcol relatlons
12 St Mary and St Nicolas has been a member of Spaldlng and Dlstrlct Churches Together for many years. All CTSD
events were Caft￿1]ed in 2020 and the group has not resumed althou8h events, such as the Gijod Friday walk of
witness, still otcur.
Members of our church have continued to assist with the A8ape Food Bank throughout 2022. The chijrch has
continued to make significant financial contributions lo this project as part of its mission 8iving.
Other matters considered ty the PCC
13 Dr Sarah Chadd tontinued to provlde admlnlstrative. secretarlal and flnanclal/accountlng support to the PCC
and its sub-committees in her role as Parish Administrator. Dawn Allen, who was workin8 in the ofFice 8 hours a
week left in April to work as Church Manager in St John, Spaldin8. After a revlew, It was declded that there
would be great benefit to having someone to work as a volunteer co-ordinator. Maxine Arnott was appointed
In February 2023 and as well as working wrth volunteers. she. Julie Laithwaite and Sarah Chadd cover Mondav,
Tuesday, Wednesday and Friday mornings in the office.
14 Safe8uardin8
The PCC continues to implernent House of Bishop's Safeguarding Policies and Practrce Guidance. This year the
Parish has coniinued to develop and improve prattl￿. There iq a dedicated mobile phone number as well as an
e-mail a(Idress for confidential reporting.
During the year, the Vicar and Safeguardirbg Officer have continued to work with the Diocese and local pollce
followltTrg the report of a serlous inadenL There i8 ongoing work with the Diocesan Safeguardin8 team to
manage a number of Safer Churches Weernerrt& The Parish ts very grateful for this support, the ongoing
advice and help with Safeguarding.

15 Finonciol review
Total receipts on ordinaryi unrestricted funds were £102,05912021 £102,521) and are detailed in the attached
financial statements. Total Planned Giving was £56,38412021 £56,830). The Gift Aid recovered on all eligible
donations was £10,215 12021 £12,034). The majorTty of the remaining income comprised a grant of £15.000
12021 £15,000) from the Spalding Rectory Feoffees and fees of £5.28812021 £7,6781-
The agreed Parish Share for 2022 of £20,(￿ was paid in full. The comparable figure for 2021 was £54,450.
A total of £5,760 was distributed from the Mission Fund to various projects. Locally the work of Agape
foodbank. nationally- the Children's Society and internationalty Mothers, Union. CMS, USPG together with
£2,000 donated in response to appeals made by the D￿SterS Emergenry Committee.
The net result for the year was a surplus of income over expenditure in the unrestricted fund of £14,89012021
deficit £15,007). There was an excess of expenditure over income on the restricted funds of £57,46712021
£3,723) and there was a deficit of income over expenditure on the endowment funds of £9,26612021 surplus
£13,5901. Fabric Fund reserves continued to fund the rtrordering of the West End of the Church durlng 2022,
Reserves policy
The Reserves Policy gives a statement as to the value of funds held and those that are allocated for future planned
expenditure. The Policy is updated annuallv.
It Is PCC pollcy to maintain a working balance on unrestrirted funds. The PCC recognises the need to increase
income in order to tover routlne rut)ning expenses. The PCC decision to redefine certain trusts held within the
Fabric Fund as restricted funds and to leave those funds, where the capital can never be used, as endowment
funds has been Implemented.
The PCC has agreed to utilise the Fabric Fund to undertake all of the works identified in the Qulnquennial Inspectlon
report.
Fund balances are held in the CBF Church of En8land Deposit Fund and in other approved investments Idetalls of
whlch are available on request). The PCC last reviewed its investments in 2013 and declded to retaln the current
arrangements as producing the best return.
In conclusion
We are grateful to all those who have contributed in so many drfFerent ways to enhancln8 the mlssion and mlnlstry
of the church In this parlsh throughout this year of gradual retovery.
On behalf of the PCC,
Revd John Bennett
Vicar
2151 April 2023

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS, SPALDING
INDEPENDENT EXAMINER'S REPORT TO THE PAROCHIAL CHURCH COUNCIL
FOR THE YEAR ENDED 31ST DECEMBER 2022
I report on the accounts of the PCC for the year ended 31 December 2022 which are set out
on pages 6 to 16.
Responslbllltles and basls of report
As the PCC'S memb8rs, you are responsible for the preparation of the accounts in
accordance with the requirements of the Charities Act 2011 ("thè Act").
I report in respect of my examination of the PCC'S accounts carried out under section 145 of
the Act and in carrying OLrt my examination I have foll0v￿d all the applicable Directions given
by the Charity Commission under section 145{5)(b) of the Act.
Independent examlnerf8 Statsment
I have completed my examination. I confirm that no material matters have come to my
attention in Connection wth the examination giving me cause to b81ieve that in any material
respect:
1. accounting records were not kept in respect of the charity as required in section
of the Act; or
2. the accounts do not accord wrth those records: or
3. the a¢￿UnIS do not comply wth the applicable requirements cOn￿rning th8 fom and
content8 of the accounts set out in the Charities (Accounts and Reports) Regulations 2008
other than any requirement that the accounts give a 'lrue and fairf, view which is not a matter
consKlered as part of an independent examinats'on.
I have no concerns and have come across no other matters in connection wrth the
examination to which attention should be drawn in this report in order to enable a proper
understanding of the acwunts to be reached.
Andrew Smrth FCA
Salway and Wright
32 The Crescent
Spalding
PE11 1AF
5.1., L/ii
Date.. 2nd May 2023
Page 5

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS, SPALDING
STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31st December 2022
Unrestrlcted Restrfcted Endowmgnt
Fund8
Fund8
Fund8
TOTAL FUNDS
2022
2021
Notè
INCOME AND ENDOWMENTS:
Donations and legacies
2a
93,520
31,490
125,010
132,295
other voluntary incoming resources
2b
750
750
2,500
Charitable and ancillary trading
2c
7.789
25,487
33,276
22,379
Investment income
2d
5,358
3,794
9,152
10,135
Other In￿rne
2e
17,670
17,670
TOTAL
102,059
80,005
3,794
185,858
167,309
EXPENDITURE
Costs of raising funds
Charrtable activities
3b
81,409
127.013
208,422
190,813
Grants
5,760
5,760
5,135
TOTAL
87,189
127,013
214,182
195,948
{LOSSES}IGAINS ON INVESTMENTS
unrealised
(10,459)
(13,060) {23.519)
23,499
NET INCOMEIEXPENDrruRE
14,890
(57.467)
(9,266) (51,843)
(5,140)
Transfers betsveen funds
3,794
(3,794)
NET MOVEMENT IN FUNDS
14,890
(53,673)
{13,060) 151,843)
{5,140)
RECONCILIATION OF FUNDS
TOTAL FUNDS AT 1ST JANUARY 2022
3,515 260,278
150,242 414,035
419,175
TOTAL FUNDS AT 31ST DECEMBER 2022
18,405
206.605
137.182
362,192
414,035
Page 6

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS. SPALDING
BALANCE SHEET
as at 31st December 2022
2022
2021
FIXED ASSETS
Tangible fixed assets
4a
17,300
17,300
Investment assets
4b
252,399
269,699
315,919
333,219
CURRENT ASSETS
Stock
1,154
1,654
Debtors
3,479
8,156
Cash at bank and in hand
88,461
99,693
93,094
109,503
LIABILITIES: AMOUNT FALLING
DUE WITHIN ONE YEAR
601
28,687
NET CURRENT ASSETS
92,493
80,816
NET ASSETS
362,192
414.035
FUNDS
Unrestricted
Restricted
Endowment
18,405
206,605
137,182
362,192
3,515
280,278
150,242
414,035
9b
Approved by the Parochial Church Council on 30th April 2023 and signed on its behalf by..
Rev'd John Bennett (Chairman)
Melvyn Price (Treasurer)
Pa3e 7

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS. SPALDING
NOTES TO THE ACCOUNTS
for tho year ended 31st December 2022
I ACCOUNTING POLICIES
The nature of the charity's operations and principal aCtsw"t￿s 1$ the provi8ion of the Church of England
religious services to the ¢ommunty wrthin its parish boundaries.
Ba$ls of preparation of flnanclal $tstem6nts
The charty constitutes a public b&nefft entity as defined by FRS 102. The financial statements have been
prepared in accordance ¥Mth Accountsng and Reporting by Charities.. Statement of RerArymmended Pr8Ctice
applicable to charities preparing their accounts in accordance wth the Financlal Reportlng Standard
applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 Juty 2014 las updated through
Update Bulletin 1 published on 2 February 20161, th8 Financial Reporting Standard appI￿able In the United
lQngdom and Republic of Ireland IFRS 1021 and the Charities Act 2011.
The financial statements are prepared on a going concem basis under thè histo￿al cost convention,
modified to include certain iterns at fair value. The financial statements are presented In stedlng which 18
the functional currency of the chanty.
The s￿nIficant accounting poliC￿S applled in the preparation of these financial statements are set out
below. These policies have been consistenty appl￿d to all years presented unle$$ othe￿16e Stated.
Incom• recognltlon
All incomlng resources are included in the Statsment of Finan¢ial A¢lNities ISOFA) when the charity is
legally entitled to the income after any perfom18nce CQndrt￿nS have teen met. the amount can
measured reliably and rt is probable that the Income wll b8 receNed.
For donations to be recognised, the charity will have teen notsfied of the amounts and the setuernent dale in
writing. If there are ¢onditions attached to Ihe donat￿n and this requires a level of perfomiance beforè
entitlement can be obtained then income Is deferred until those o)nditrons are fully met or the fulfilment of
those conditsons 1$ within the control of the chaTty and It Is probable that they will be fulfilled.
Donated facilities and donated professional services are recognised in income at fair value when their
economic benefrt is probable, rf( can be measured rel￿b￿ and the chanty has control over the item. Fair
value is determined on the basis of the value of the gift to the charity. For example the amount the charity
would be willing to pay in the open market for sud) facilities 8rMd Services. A ry)rresponding amount is
recognised in expenditur8.
No amount is included in the financial statements for volunteer ts'me in line with the SORP (FRS 1021.
Further detail Is given in the Trusteès, Annual ReFQrt.
Page 8

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS, SPALDING
NOTES TO THE ACCOUNTS
for the yéar ended 31st December 2022
1 ACCOUNTING POLICIES (eontlnuedl
In¢omo rocognltlon Icontinugd)
Where pwlicable, gifts in kind don*ed for distribution to the benefia"aries of tr* ¢hanty are included in stock
and donat'ons in the financial stalements uwn receipl. If it is impracb"cable to assess the Pdir value at receipt
or if the costs lo undertake such a valuation OU￿e1gh any benefrts. then the fair value is recognised as a
comrx)nent of donations when it is distributed and an equivalent amount recognised as charitabte expenditure.
Fixgj asset gifts in kind are recognised when recervable and are included at falr value. They are not
deferred over the lifé of the asset,
For legacies, entitlement is the eadier of the charty being notified of an impending distribution or the legacy
being received. At this point, income Is recognised. On occasion legacEs will be nots'fied to the charity
when il is not possible to measure the amount expected to te distn"buled. On these ocCaS￿n$, the leg8Cy
is treated as a contingent a&9et and disclosed.
Investment income Is eamed through holding assets frjr in￿StMent purpjsés such as shares. It Includes
dividends and interest. Where rt is not practicable to ￿entty investment management Costs incurred withln
a scheme wrth reasonable accuracy the investment Income is reported net of these costs. It is Included
when tho amount can bo measured reliabty. Inter08t income is recognised using the eflective interest
method and dividend income is recogntsed as the Chantls right to receive payment is establish•J.
Expendlture Meognltlon
All exFendtture is accountsd for on an a￿Tual$ basis and has been cLgssffied under headings that
aggregate all costs related to the category. Expenditu￿ is recognised where there is a legal or constructive
obligation to make payments lo third partiès, it is probable thal the settlement will be required and the
amount of the obligation can be measured reliably.
Grants Payab￿ to third parkn.es are ￿thin the chantabfe obJectNes. V4lhere unCOndrt￿nal grants are off&r8d,
this is accrued as soon as the recIp￿nt is notrfth of the grant. as this gives rise to a reasonable
expectation that the recipient will r￿e1ve the grant. Where grants are conditional relating to performance
then the grant is only a¢¢ru8d when any unfuffilw eondrtions are outswje of the control of the charity.
Support cost allocallon
Charitable expenditure comprises those costs incurred by the charity In the delivery of rts acb'vities and
S8rvic8s for its benoficiartes.
Govemance costs Include those costs a$s￿rated with meeting the ConstitLrt￿nal and statutory requirements
of Ihe charity and include accountancy fees and costs linked to the strategic management of the charity.
Pw9

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS. SPALDING
NOTES TO THE ACCOUNTS
for the year ended 31st December 2022
1 ACCOUNTING POLICIES {contlnued)
Support cost allocation Icontinuedl
Support costs include all those overhead costs for uts'lty servtes and other services and costs which are In
support of th8 activty. They have been allocated to actsvty Cost categories on a basis consistent with the use
of resources.
Tanglblo fix￿ auot8
Con8ecratod land and bulldings and moveablè church furnl8hlng•
Consecratèd Pfopety is excluded from the accounts by s10121{a} of the Chanties Act 2011. No value is
placed on moveable church fvmishings held by the church wardens on special trust for the PCC and whKh
require a faculty for disposal since the PCC consKlers this to bg inalienable propaty. All expandilure
incurred during the year on consecrated buildings and moveable church fvmishings. whether maintenancè
or improvement, is written off as expenditure in the Statement of financi81 activit￿ and separatety disc108ed.
Othor bulldlng8
In the absence of a professional valuation. the church hall has b8én included in the xcounts at ils origlnal
nel cost and has not been depreaaled as it 18 ￿nsIdered by the truglees to have a ugeful life at 31 Décemb8r
2022 in excess of So years.
Horftago a880ts
Hertsge assets only 8rise when donated to the ¢hanty or, if on acqulsrt￿fi, it is believed that they will further
the charitys obieclives. Once acquired they wll be preserved by the charity in order to keep their historical.
artr'stic, scienb'fic, lechnologul. geophysical or environmental qualrties to such a high level as lo contribute
to kno￿edge and cu51ure. Heritsge assets are lo be held for the foreseeable future.
Where infonnation on the cost or valuabon of heritage assets is not availabl8 or the cost of providing such
infomialion Signthcantly Outsve￿h8 any tenefft to the users of the &￿Unts then heritage assets are not
recognised on the balan¢x sheet
The charity holds several heritage assets induding a brass eagle lectem, a brass Candelabra and a
grand piarso and other rtems wth historical qualits.es that are hekl and maintained principalty for their
contribution to kno￿edge and Culture. due to informalion on the cost or valualion of these rf(ems not b8ing
available nor able to obtained at a cost commensurate wth the benefft to the users of the accounts
and to the charity for rts own stewardship pUrP￿s, the assets are purety noted in the accounts with
no value attributed to them.
Page10

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS. SPALDING
NOTES TO THE ACCOUNTS
for the year ended 31 st Decembor 2022
1 ACCOUNTING POLICIE5 (contlnuedl
Fund accountlng
Unrestricted funds are available for use at the diSCret￿n of tt)e trustees in furtherance of the general
objectives of the charity and have not been des￿nat￿j for other purrw)ses
Restrfcted funds are fijnds which are to b8 in ac(xrdance wth speafic restrictions Imposed by donors
or whlch have been ralsed by the Charity for partlcular pu￿OseS. The cost of raising and administering such
funds are Charged against the Specific fijnd. The aim and use of each restricted fund is set out In the notes
to the financial statements.
Endowment funds represent pemanent end(Avments. The ¢apit81 of these funds can never be expended.
Investmonl income generatod on the charity's end¢)wment funds is available to be spent on maintenance
of the church fabric and is transferred each year to the restn.ctéd fabric fijnd.
Dfrbtor• and credltor• r•colvabWpayabh wlthln ono yoar
Dèbtors and cr8dilors wth no slated interest rate and receivable or payabb wilhin one year are recorded at
transaction pric&. Any losses arising from impaiment are recognised in expenditure.
Golng eonc•rn
The financ¢al statements have been prepared on a going o)ncem basis as the trustees believe thal no
materi81 uncertainties exist. The trustees have considered the kvel of funds held and the expected levol of
in¢ome and expenditure for the 12 months from authorising these financial statements. The budgeted income
and expenditure 1$ Sufficient wrth the18vel of reserves for the chanty to bg abbe to operate as 8 going
concern.
Judgomgnts and koy 8ourco8 of estlrnatlon unurtalnty
The preparation of the financial statements requires managernent to make judgements, ests"males and
assumptions that affect the amounts reFOrted. These estimates and judgements are continually rev1w￿d
and are based on experience and other faclors, including expectations of future events that are believed to
be reasonable under the circumstances.
Page 11

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS. SPALDING
NOTES TO THE ACCOUNTS
for the year ended 31st December 2022
2 INCOME AND ENDOWMENTS
Unrestrlcted Restrletsd Endowmènt
Funds
Funds
Fund8
TOTAL FUNDS
2022
2021
2a Donations and legacies
Planned giving
Envelopes
Bankers orders
Income tax recovered
Plate collections at seprfices
Legacies
Sundry donations
6,999
49,385
10.215
3,986
6,900
49,930
12.034
2,882
19,140
41,409
132,295
49.385
10.215
22,935
93,520
31,490
31,490
54,425
125,010
2b Other voluntary income
Grants
Fetes and other fund raising events
750
750
2,500
750
750
2,500
2¢ Charitable and ancillary trading income
Shop, tidings and 200 Club
Choir fund
Church Hall lettings
Fees
2,501
1,721
5,408
18,358
4,222
5,408
18,358
5,288
33,276
2,518
10,427
9,434
22,379
5,288
7.789
25.487
2d Income from investments
Dividends and interest
Realised gains
5,358
3,794
9,152
10,135
5,358
3,794
9,152
10,135
2e Other income
Value Added Tax recovered
17,670
17,67Q
17,670
17,670
TOTAL INCOME
102,059
80,005
3,794
185,858
167,309
Page 12

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS. SPALDING
NOTES TO THE ACCOUNTS
for the year endod 31st December 2022
3 EXPENDITURE
UnTOStrl¢ted Re8trlcted Endowmènt
Funds
Funds
Fund8
TOTAL FUNDS
2022
2021
3a Costs of raising funds
Fetes and other fund raising events
3b Charitable activities
Directly relating to the work of the church
Ministry.. parish share
clergy travelling expenses
Church running expenses
Church maintenance
Fabric fund expenditure
Children and youth groups
Shop expenditure
Church yard maintenance
Church Hall running costs
Organist and choir master
Sacristan
20,000
720
20,473
628
20,000
720
20,473
628
72,108
10,454
500
360
48,130
7,776
327
181,478
$4,450
483
19,316
705
66,052
3,801
72,108
5,735
4.719
500
360
1,763
9,184
8,023
1,034
184,811
48,130
7,776
327
55,503
125,973
Management and administration
Printing, stationery and copier
Printing tidings
Postage
Parish office assistants
Parish administrator
Telephone
Subscriptions
Parish office running expenses
Refuse collection
Miscellaneous expenses
200 Club prizes
Use of Hall
Independent examine¢s fee
1,986
1,931
1,714
1,626
119
6,834
9,265
1,601
358
493
155
1,541
1,320
720
256
26,002
1,931
5,415
9,651
1,773
291
5,415
9,651
1.773
291
980
252
2,543
1,040
720
288
26,946
252
2,543
720
288
25,906
1,040
81,409
127,013
208,422
190,813
3c Grants
Missionary and Gharitable giving
5.760
5,760
5,135
TOTAL EXPENDITURE
87,169
127,013
214,182
195,948
Page13

PAROCHIAL CHURCH COUNCIL OF ST. IAARY AND ST. NICOLAS, SPALDING
NOTES TO THE ACCOUNTS
for the year endod 31st December 2022
4 FIXED ASSETS
4a Tangibl8 fix8d assets
The tangible fixed assets comprise the church hall which is shown at original net cost. The value for
insurance purposes at 31st Decemb8r 2022 is £2,960,000 (2021 £2,475,000).
4b Investments
Investments are shovm at market value. The historical cost of investments held at 31 st December 2022
is £82,552 {2021 £94,743).
6 ANALYSIS OF NET ASSETS BY FUND
Unreslrlcted Re8trkted Endowment
Funds
Fund•
Fund8
TOTAL FUNDS
2022
2021
Fixed assets
Current assets
Current liabilrtie8
132,517
74,088
137.182
269,699
333,219
93,094
109,503
16011 (28,687)
19,006
(601)
Fund balance
18,405 206,605
137,182 362,192 414,035
6 DEBTORS
2022
2021
Income tax recoverable
Prepayments and accrued income
1,631
1,848
1,650
6,506
3,479
8,156
7 LIABILITIES: AMOUNTS FALLING DUE IN ONE YEAR
2022
2021
Accruals
601
28,687
601
28,687
Page 14

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS, SPALDING
NOTES TO THE ACCOUNTS
for the year ended 31st December 2022
8 EMPLOYEE EMOLUMENTS
2022
2021
Salaries
20,844
20,844
19,949
19,949
During the year the PCC employed a parish administrator, two parish office assistants and
a church hall Gleaner.
Organists and sacristan were s81f-employed
9 FUND MOVEMENTS 2022
Balanc•
Funds
011011022 added
Funds Investments Fund•
Balanc•
used
transferred 3111212022
Unrestrlcted
PCC general
Festival
3,189
328
3,515
102,059
(87,169)
18,079
326
18,405
102,059
87,169
b Restrlcted
Church Hall
Fabric
School building reserve
Vicar, vRrden8, organ, legacie8
Belfry
Choir
200 Club
27,804
186.286
4.037
37,417
281
2,932
1,521
260.278
43,358
25,125
(48,130)
(70,958)
23,032
133,788
4,039
40,898
41
2,605
2,202
206,605
(10,459)
3,794
3,481
910
5.408
1,721
80,005
(1.150)
(5,735)
1,040
127,013
10,459
3,794
c Endowment
Fabric
Richardson Trust
148,242
2,000
150,242
3,794
(13,060) (3,794)
135,182
2,000
137,182
3,794
13,060
3,794
Combln8d funds total
414,035
185,858 (214,182)
(23,519)
362,192
Page15

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS, SPALDING
NOTES TO THE ACCOUNTS
for the year ended 31st Decembor 2022
9 FUND MOVEMENTS 2021
Balance
011011021
Funds
added
Funds Investments Funds
Balance
used
transferred 3111212021
a Unreslrlcted
PCC general
Festival
18,196
326
18,522
102,521 (117,528)
3,189
326
3,515
102,521
117,528
b R08trlctsd
Church Hall
Fabric
School building reserve
Vicar, wardens, organ, leg8cie8
Belfry
Choir
200 Club
20,741
210,010
4,035
23.738
70
2,568
2,841
264,001
16.247
29,258
{9,184)
{82,891)
27,804
186,286
4,037
37,417
281
2,932
1,521
260,278
9,909
15,015
931
3,335
(1.334)
{720)
(2,971)
1,320
78,420
64,788
9,909
c Endowmont
Fabric
Richardson Trust
134,852
2,000
136,652
13,590
148,242
2,000
150,242
13,590
Comblned funds total
419,175
167.309 {195,9481
23,499
414,035
Page 16