PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS, SPALDING
CHARITY CONIMISSION REGISTERED NUMBER 1132847
ANNUAL REPORT
AND
FINANCIAL STATEMENTS
OF THE
PAROCHIAL CHURCH COUNCIL
For the year ended 31st December 2023
Incumbent:
The Rev'd J D Bennett
The Parsonage
1 Halmer Gate
Spalding
PE112DR
Indepèndent examiner:
Andrew Smith FCA
Salway and Wright
32 The CreS￿nt
Spalding
PE11 1AF

THE PARISH OF ST MARY AND ST NICOLAS SPALDING
ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL
FOR THE YEAR ENDED 31ST DECEMBER 2023
Misslon Statement
We to be a loving ond welcoming Christian community.. honouring God In worship.following Christ in our lives and
purticipoting in his Mission.
Admlnistratlve infurmatlon
The parish church of St Mary and St Nicolas is sltuated 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, Spalding, PEII 2DR.
The Parochial Church Council IPCCI of the Ecclesiastical Parish of St Mary & St Nicolas Spalding is a registered charity
(Registered number 11328471.
PCC members who have served from l January 2023 until the date of the Annual Parothial Church Meeting are:
Incumbent..
The Revd John Bennett (choir)
Other clergy..
The Revd Aileen Workman (Associate Vi¢or, retiredJonuory 2024)
Reuder..
Mrs Sue Slater
Wordens..
Mrs Jean Hill (Lay vice chair) and Mrs Penny Adams IresAgned Morch 2024)
Generolsynod representative.. Mrs Sue slater
Representatives on the Elloe West Deonerysynodelected October2020 retired 2023..
Mr David Clements Icurrently no elected representatives),. Mrs Sue Slater lex ojyicioj
Elerted members..
Retired in 2023 Mr Robert Molson and Mr Nicholas Pitt5
Retiring in 2024 Mrs Valerie Fairbanks, Mr john Holmes and Mrs Julie Laithwaite
Retiring in 2025 Mrs Wendy Chew
Retiring in 2026 Dr Sarah Chadd, Mrs Robyn Firth, Mr Nicholas Pitts and Mrs Melanie Sharp
The Parish Administrator, Dr Sarah Chadd, acts as the Secretury to the PCC.
Stru¢ture. governance and management
The method of appointment of PCC members 15 set out in the Church Representation Rules. Representatives of the
parishioners are elected for three years, Wlth 3 third retiring each year land being eligible for re-election). All church
attendees are encouraged to register on the Electoral Roll and stand for election to the PCC.
The PCC has ultimate responsiblllty for such matters as compliance with health and safety, disability distrimination
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 Stunding Committee is the only committee required by law. It ha5 power to transart the business of the PCC
between it5 meetings, subject to any directions given by the Council. It meets before each PCC to agree an agenda
2. The Fint7nce Teum manages, monitors and repDrts the finances of the PCC
3. The Property Committee manages, maintains and develops PCC property including the church building, churchyard
and boundaries, with oversiBht of St Nicolas Church Hall, The Vista
The Hall Mancigement su&committee administers all aspects of the upkeep and running of the Church Hall. It
oversees the public and church use of the hall.
The list of members of the variou5 committees and teams. the scheme ol delegation to each committee and the terms
of reference are available from the Parish Office to any member of the Electoral Roll who requests a copy.
Oblertlves and artlvltles
The PCC has the responsibility of co-operating with the Vicar in promoting in the ecclesiastical parish the whole mlsslon
of the church, pastoral, evangelistic. social and ecumenical. It also has maintenance re5pon5ibilities 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 parishe5, Wlth St Paul's and 5t
John the Baptist. The church is now also a member of the Spalding Local Mission Partnershipi which alsr) includes
churches in the Glen, Gosberton and Weston groups.
Page I

The PCC cooperates with joint ecumenical artivities.
Connected charity
The PCC acknowledges the significant support recelved from the Spalding Rectory Feoffees, a registered charity.
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 Chambers Court (previously leased to the Diocese and occupied by the curate but now a private
letl. They a150 own the Parish Office lin the grounds of the Parsonage). In recent years, they have been able to make an
annual donation to the PCC plus additional grants to the Church Hall. As Patrons, the Feoffees present a new
incumbent to the bishop.
Achievements and performance
Church attendonce
Following revision in 2023, there were 161 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 2024 APCM.
Attendance throughout the year has continued to improve following the impact of the Coronavirus pandemic. There is
service at 10.30am on a Sunday morning which continues to be livestreamed as well as being available afterwards on
line and Even50ng at 6.30pm. Average weekly attendance, is estimated to be 138175 in 20221 adults and 24115 Sn
20221 under 16,5. The number of people continuing to regularly engaging with the livestreamedlrecorded worship is
estimated to be about 6 but the1ivestreams are acce55ed by a lèrger number of people.
Review of the yeor
l The Church has continued to recover after the impact of the Coronavirus pandemic and the report reflect5 this.
Church meetings have continued and attendance was good.
3 The PCC has continued to engage wlth the Diocese of Lincoln'5 'Time to Change Togetherf initiative. The PCC
reviewed and confirmed its decision to identify a5 a Type 2 Local Mission church. The Parish paid a Covenant
pledge of £25,000 p.a and this covers the cost of ministry as well as contributing to the common fund. The Parish is
working alongside other parishes in the development Df Local Mission Partnerships.
4 Aileen Workman continued as Associate Vicar but retired at the end of january 2024. This part-time post was
funded by the Feoffees. Revd Michael Bullock assilts when he Ss not mlnlstering in the Diocese of Europe. Mrs Sue
Slater renewed her PermissiDn to Officiate to preach and lead worship as a Reader in the parish. DLEe to health
issues Dr Peter Gorton has ceased to hold PTO as a Reader.
Porish layministers
lean Hill IParish visitor) continues as an Authorised Lay Minister, Sue Houghton as the Baptism Co-ordinator and
claire Dickens as head Server.
The church building. its development, muintenance and ornuments
6 Essential routine maintenance and repair has continued. Long planned work to clean the Elizabeth Johnson
memorial and undertake conservation of a number of floor ledgers was completed. The cleaning of the Johnson
memorial was funded out of the Brassington legacy. The remainder of thi5 legacy will be used to fLFnd bespoke
storage for church linen and altar frontals. With further problems with the boilers, gas supply pipes and water pipe
leaks, planning for a replacement heating system is a priority. The DAC heating has advised that a Building Services
Consulting Engineer be appointed to carry out a heat loss calculation, provide budget prices and energy usage
figures. In addition to the above, the Quinquennial Inspection has been carried out with the report is pending 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 previou5 generations who have left endowed funds and grants will be sought for the larger
repair costs.
The Vista Hull
7 The Hall continue5 to be a popular venue and hosts a variety of regular exercise and martial arts classes as well as
social groups and socleties. The H311 is also available to hire for private parties.
Improvement work has continued with metal framed windows in the Green room and smaller high-level window5
in the Main Hall replaced. This work was completed earlier than planned due to a generous grant to cover the costs
from the Spalding Rectory Feoffees.
In addition to the Feoffees, grant, letting income for the year was £25,746 with expendlture of £27.518. The year-
end fund balance was £36,260.
Page 2

The Hall Committee will continue to refurbish the building 25 funds allow. The future of the heating system will be
considered alongside that of the church.
Ministry omongst children ond young people
8 The PCC is committed to offering muslc as a means of outreach to children, young people and their families. In
addition, to the recruitment of Alexandra Stacey as Direttor of the Girls, choir, Mr David Bishop was appointed as
Assistant Organist.
Following visits to four local primary schools in September, over 50 boys and girls were newly recruited to the
Choir. After the initial influx this has settled at 30. The Choir, comprising a total of over 70 men, women, boys and
girls sing every Sunday at the 10.30am Eucharist Service and at Evensong. Several families of Children in the choir
attend worship and this has resulted in the ongoing increase in attendance.
ThÈ associated Choir Club which runs every Wednesday afternoon provides a range of activities and outings
throughout the year. The Church Is very grateful to the team of volunteers who supervise at the club.
Discipleship
9 An open discussion group, 'Godly Conversations, was held in church during Lent. The weekly meetings were well
attended and muth appreciated.
alk around the Table, was a new initiative at Choir Club enabling the youn8 people to ask questions about faith.
A total of 4 adults lincluding sorne choir parent51 and 3 children were confirmed in October.
Outreach
10 For the first time in over 10 years, the town held a Flower Parade in May. This event which occurred a week after
the Coronation was very well attended and the church was decorated and offered a welcome to many visitors.
A garden party wa5 held in August and despite, in fact perhaps because of, terrible weather was a great success
with hospitality (refreshments and artivitiesl offered to a large nLtmber of both church members and passers-by.
An event (Christ the Kingl was held in Church to coincide with activities in the town associated with the switching
on of the Christmas lights in late November. The Church was decorated with greenery including 3 large Christmas
treè, nativity sets and lights and offered ref￿shMentS and family craft activities.
Occu5ional offices
11 Opportunities for pastoral contact with people from Spalding through the regular ministry at baptisms1351,
marriages1613nd funerals19 in Ch￿rch and a further 15 at Crematoria or the Cemetery) continue. There has been a
decline in the number of funerals conducted by clerEY since the pandemic.
RelatlOlJ5hip with schools
12 We welcomed groups from various schoo15 in the district for educational visits and Spalding schools came to the
church for Christmas service5 during December 2023. Over 2,900 students, staff and parents attended these
services. Clergy attended and led Collective Worship at Spalding Parish Church School and Ayscoughfee School.
The relationship with 5palding Parish Church School remains important.
Ecumenicol relotions
13 St Mary and St Nicolas has been a member of SpaldSng and District Churches Together for many years but the
group has not resumed its meetings following the pandemic although events, such as the Good Friday walk of
witness, still occur.
Members of our church have continued to assist with the Agape Food 8ank throughout 2023. The church has
continued to make significant financial contributions to this project as part of its mission givinB.
Other matters considered by the PCC
14 During 2023, the decision was made to stop the publScatSon of the parish magazine, Tidlngs. This was due to
increasing costs, dwindling subscriptions and a lack of people to create and edit content as well to to-ordinate
distribution and management of the finances.
The Parish continues to produce a weekly notice sheet as well as having an up to date web51te and gcN)d social media
IFacebookl presence. The Vicar will produce a bi-monthly round-up of Informatlon and news as "Notes from the
Par50nage".
15 Dr Sarah Chadd continued to provide administrative, secretarial and financial/accovnting 5UPPOrt to the PCC and its
sub-committees in her role as Parish Administrator. Maxine Arnott was appointed in February 2023 to work in the
Parish Office and as well as with volunteers. As a result, an event to thank the 90 + volunteers has been held as well
Page 3

as an open day for people to explore the volunteering opportunities. A number of new people have becomè involved
in a vèriety of activities including, cleaninB, churchyard maintenance, hospitality and the church shop. Plans are in
place for 2024 enablSng sttjdents from local primary and secondary schools to get involved in developing an area of
the church yard for wildlife. Maxine Arnott, Julie Laithwaite and Sarah Chadd cover Monday* Tuesday, Wednesday
and Friday mornings in the office.
16 Safeguardin8
The PCC continue5 to implement House of Bishop's Safeguarding Policies and Practice Guidance. This year the Parish
has continued to develop 2nd improve practice. There is a dedicated mobile phone number as well as an e-mail
address for confidential reporting.
Durlng the year, the Vicar and Safeguarding Officer have continued to work with the Diocese and local police
following the report of a serious incident in 2022. There is ongoing work with the Diocesan Safeguarding team to
manage a number of Sèfer Churches Agreements. The Parish is very grateful for thls support, the ongoing 3dvice and
help with Safeguarding.
17 Finonciol review
Total receipts on ordinary, unrestricted funds were £94,601 12022 £102,059) and are detailed in the attached
financial statements. Total Planned Giving w35 £44,304 12022 £56,384I. The Gift Aid recovered on all eligible
donations was £11,65112022 £10,2151. The majority of the remaining income comprSsed a grant of £15.00012022
£15,0001 from the Spalding Rectory Feoffees and fees of £5,28912022 £5,2881-
The agreed Covenant Pledge for 2023 of £25,000 was paid in full.
A total of £6,500 was dlstrlbuted from the Mlsslon Fund to variDUS projerts. Locally the work of Agape foodbank;
nationally- the Children's Society and internationally Mothers, Union, CMS, USPG together with £1,000 donated to
Christian Aid in response to appeals made by the Disasters Emergency Committee and a further £1,000 out of the
Mission Fund.
The net result for the year was a deficit of income over expenditure in the unrestrlcted fund of £14,57512022
surplus £14,890). There was an surplus of income over expenditure on the restrirted funds of £14,88012022
deficit £57,467) and there wa5 a surplus of income over expenditure on the endowment funds of £10,69912022
deficit £9,266).
Reserves policy
The Reserves Policy glves a statement as to the value of funds held and those that are allotated for futLtre planned
expenditure. The Policy is updated annually.
It is PCC policy to maintain a working balarkcè on unrestricted funds. The PCC recognises the need to increase income in
order to cover routine running expenses. The PCC decision to redefine certain trusts held within the Fabric Fund as
restricted funds and to leave only those funds, where the capital can never be used, as endowment funds has been
implemented.
The PCC ha5 agreed to utili5e the Fabric Fund to undertake all of the works identified in the Quinquennial Inspection
report.
Fund balances are held in the CBF Church of En8land Deposlt Fund and in other approved investments Idetails of which
are available on request). The PCC last reviewed it5 investments in 2013 and decided to retain the current
arrangements as prodijcing the best return.
In concluslon
We are grateful to all those who have contributed in so many different ways to enhancing the mi55ion and ministry of
the church in this parish, and we are confident that this will continue and grow during the forthcoming Vacancy.
On behalf of the PCC,
Revd john Bennett
Vicar
28th April 2024
Page 4

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 2023
I report on the accounts of the PCC for the year ènded 31 December 2023 which are set out
on pages 6 to 16.
Responsibilities and basls of report
As the PCC'S members, you are responsible for the preparation of Ihe accounts in
accordance with the requirements of the Charities Act 2011 ("the Act").
I report in respect of my examination of the PCC'S arKounts carried out under section 145 of
the Act and in carrying out my examination I have followed all the applicable Directions given
by Ihe Charity Commission under section 145{5)(b) of the Act.
Independent examiner's statement
I have compleled my examination. I confirm that no material matters have Come to my
attention in connection with the examination giving me cause lo beli8v8 that in any material
respect:
accounting records were not kept in respect of the charity as required in sèction
of the Act- or
2. the accounts do not accord with those records. or
3. the accounts do not comply with the applicable requirements conceming the form and
contents of the accounts set out in the Charities (Accounts and Reports) Regulations 2008
other than any requirement that the accounts give a "true and fair" view which is not a matter
considered as part of an independent examinalion.
I have no Concerns and have Come across no other matters in connection with the
examination to which altenlion should be drawn in this report in order to enable a proper
understanding of the accounts to be reached.
Andrew Smith FCA
Salway and Wright
32 The Crescent
Spalding
PE111AF
Date.. 30th April 2024
Page 5

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS, SPALDING
STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31st December 2023
Unrestrlcted Restricted Endowment
Funds
Funds
Funds
TOTAL FUNDS
2023
2022
Note
INCOME AND ENDOWMENTS..
Donations and lega¢ies
2a
83,812
15,030
98,842
125,010
Other voluntary incoming resources
2b
3,329
3,329
750
Charitable and ancillary trading
2c
7,460
30,519
37,979
30.336
Investment income
2d
3,588
7,058
10,646
9,152
other income
2e
1,291
1,291
17,670
TOTAL
94,601
50,428
7,058
152,087
182,918
EXPENDITURE
Costs of raising funds
Charitable activities
3b
102,676
42,544
145,220
205,482
Grants
6,500
6,500
5,760
TOTAL
109,176
42,544
151,720
211,242
(LOSSESIIGAINS ON INVESTMENTS
unrealised
6,996
3,641
10,637
{23,519)
NET INCOMEIEXPENDITURE
(14,575)
14,880
10,699
11,004
(51,843)
Transfers between funds
7,058
{7,058)
NET MOVEMENT IN FUNDS
(14,575)
21,938
3,641
11,004
(51,8431
RECONCILIATION OF FUNDS
TOTAL FUNDS AT 1ST JANUARY 2023
18,405
206,605
137,182
362,192
414,035
TOTAL FUNDS AT 31ST DECEMBER 2023
3,830
228,543
140,823 373,196
362,192
Paoe 6

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS, SPALDING
BALANCE SHEET
as at 31st December 2023
2023
2022
Note
FIXED ASSETS
Tangible fixed assets
4a
17,300
17,300
Inveslment assets
4b
263,036
280,336
252,399
269,699
CURRENT ASSETS
Stock
854
1,154
Debtors
5,495
3,479
Cash at bank and in hand
90,446
88,461
96,795
93,094
LIABILITIES: AMOUNT FALLING
DUE WITHIN ONE YEAR
3,935
601
NET CURRENT ASSETS
92,860
92,493
NET ASSETS
373,196
362,192
FUNDS
Unrestricted
Restricted
Endowmenl
9a
9b
3,830
228,543
140,823
373,196
18,405
206,605
137,182
362,192
Approved by the Parochial Church Council on 28th April 2024 and signed on ils behalf by..
Revd John Bennett (Chairman)
Melvyn Price (Treasurer)
Page 7

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS, SPALDING
NOTES TO THE ACCOUNTS
for the year ended 31st December 2023
1 ACCOUNTING POLICIES
The nature of the charivs operations and principal activities is the provision of the Church of England
religious services lo the community within its parish boundaries.
Basls of preparatlon of financial statements
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been
prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practi¢e
applicable lo charities preparing their ac¢ounls in accordan￿ with the Financial Reporting Standafd
applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014 (as updated through
Update Bulletin 1 published on 2 February 2016). the Financial ReFy)rting Standard 8ppIic8ble In the United
Kingdom and Reptjblic of Ireland IFRS 1021 and the Charib'es Act 2011.
The finar¢cial statements are prepared on a going concern basis under the historical cost (x)nvenlion,
modified lo include certain items at fair value. The financial statements are presented in stsrling which is
the functional currency of the charity.
The signifi'cant accounting policies applied in the preparation of these financial statements are set out
below. These policies have been consistently applied to all years presented unless othe￿iSe sL8t6d.
Income recognltlon
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity 15
legally entitled to the income after any performance conditions have been mel, the amount can be
measured reliably and it is probable Ihat the Income will be received,
For donations lo be recogni5ed. the charity will have been notified of the amounts and the $elllemenl date in
writing. If there are conditions attached to the donation and this requires a level of performance before
entitlement can be obtained then income Is deferred until those conditions are fully m6t or the fulfilment of
those conditions is within the control of the Charity and11 Is probable that they will be fulfilled.
Donated fa¢illtles and donated professional services are recognised in income at fair value when their
economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair
value is determin￿ on the basis of the value of the gift lo the charity- For example the amount the charity
would be willing to pay in the open market for such facilities and services. A corresponding amount is
recognised in expenditure.
No amount is included in the financial statements for volunteer time in line with the SORP {FRS 1021.
Further detail Is given in the Trustees, Annual ReporL
Page 8

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS, SPALDING
NOTES TO THE ACCOUNTS
for the year ended 31st December 2023
1 ACCOUNTING POLICIES (continued)
Income recognition {¢ontinuedl
Where practicable. gifts in kind donated for distribution to the beneficiarie5 of the charity are included in slcck
and donations in the financial statements upon receipt. If it is impracticable to assess the fair value at Teceipt
or if the costs to undertake such a valuation OU￿e19￿ any benefit5, then the fair value is Tecognised as a
component of donations when il is distributed and an equivalent amount ￿COgniSed as charrtable expenditure.
Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not
deferred over the life of the asset,
For legacies, enlillemenl is the earlier of the charily being notified of an impending distribution or the legacy
being received. At this point, income is recognised. On occasion legacies will be notified lo the charity
when it is not possible lo measure the amount expect￿ to be distributed. On these OCGa5ion5, the legacy
is Irealed as a conlingenl asset and disclosed.
Investment income is earned through holding assets for investment purposes Such as shares. It includes
dividends and interest. Where it is not practicable lo identify investment management costs incurred within
a scheme with reasonable accuracy the investment income Is reported nel of these costs. It is Included
when the amount can be measured reliably. Infrrest income is recognised using the effects've interest
method and dividend income is recognised as the charity's right to receive payment is established.
Expenditure recognltlon
All expenditure is accounted for on an accrua15 basis and has been classified under headings that
aggregate all costs retated lo the ¢alegory. Expenditure is recognised where there is a legal or conslructive
obligation to make payments to third parties, Il is probable that the seltlement will be required and the
amotjnt of the obligation can be measured reliably.
Grants payable to third parties are within the charitable objectives. Where unconditional grants a￿ oflerecl,
this is accrued as soon as the recipient is notified of the grant, as this gives rise trj a reasonable
expectalton that the recipient will receive the grant. Wheie grants are conditional relating to performance
then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.
Support Go$t allo¢atlon
Charitable expenditure comprises those cosls incurred by the charity In the delivery of its acts'vilies and
services for its beneficiaries.
)vernance costs Include those costs associated with meeting the constitutional and statutory requiremenls
of the charity and include attcountancy fees and costs linked to the straleglc management of the charity.
Page 9

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS, SPALDING
NOTES TO THE ACCOUNTS
for the year ended 31st December 2023
I ACCOUNTING POLICIES Iconllnuedl
Support CO8t allocatlon (contlnuedl
Support costs include all those overhead costs for uts'lity ServI￿S and other services and costs which are in
SLJPPOrt of the activity. They have been allocated to activity Gost categories on a basis consistent with the use
of reSoUr￿s.
Tangible fixed assots
Consecrated land and bulldlngs and moveable church furnlshlngs
Consecraled property is excluded from the accounts by $1012)lal of the Charities Act 2011. No value is
placed on moveable church fvrnishingg held by the church wardens on special trust for the PCC and whi¢h
require a faculty for disposal since the PCC considers this lo be inalienable propety. All expenditure
incurred during the year on consecrated buildings and moveable church fumishings, whether maintenance
or improvement, Is written off as expenditure in the statement of financial acb'vilies and separately disclosed.
Other bulldlng8
In the absence of a professional valuation, the church hall has been lftcluded in the a¢￿UnIS al its oroinal
nel cost and has not been depreciated as it is considered by the trustees to have a useful life at 31 December
2022 in excess of So years.
Heritage assets
Heritage assets only arise when donated lo the charity or, if on acquisition, it is believed that they will lurther
the charity's objectives. Once acquired they will be preserved by the charity in order to keep their historical,
artistsc, scientific, technological, geophysical or environmental qualities lo such a high level as to contribute
to knowledge and culture. Heritage assets are to be held for the foreseeable fulure.
Where information on the cost or valuation of heritage assets is not available or the cost of providing such
information significantly 0￿￿e1ghS any benefll to the users of the accounts then heritage assets are not
recognised on the balance sheet
The charity holds several heritage assets including a brass eagle lectern, a brass candelabra and a
grand piano and other items with historical qualitie5 that are held and maintained principally for their
contribution lo knowledge and culture, due lo information on the cost or valuation of these items not being
available nor able to be obtained at a cost commensurate with the benefit lo the users of the accounts
and to the charity for its own stewardship purposes. the assets are Purely noted in the accounts with
no value attributed to them.
Page 10

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS, SPALDING
NOTES TO THE ACCOUNTS
for the year ended 31st December 2023
1 ACCOUNTING POLICIES {continugd>
Fund accounting
Unrestricted fLsnds are available for use al the discretion of the trustees in furtherance of the general
objeclwes of the chality and have not been designated for other purpose5.
Restricted funds are funds which are lo be used in a¢¢ordance with specific restrictions imposed by donors
or which have been raised by the charity for particular purposes. The cost of raising and administering such
funds are charged against the specific fund. The aim and use of each reslriclod fund is set out In Ihe nDles
to the flnanclal statements.
Endowment funds represent permanent endowments. The capital of these funds can never be expended.
Investment income generated on the charity's endowment funds is available lo be spent on maintenance
of the church fabric and is transferred each year lo the reslricled fabric fund.
Debtors and credltors receivablelpayable wlthln one year
DebtOTS and creditors with no slated interest rate and recoivable or payable within one year are recorded at
transaction pr￿. Any losses arising from impairment are rewgnised in expenditure.
Going concern
The financi21 statements have been prepared on a going concern basis as the trustees believe that no
material uncertainties exist. The trustees have considered the level of funds held and the expected level of
income and expenditure for the 12 months from aulhorising these financial slatements. The budgeted income
and expenditure is suff￿lent wrth the level of reserves for the charity lo be able lo operate as a going
concem.
Judgements and key 50ur¢?s of estimation uncertalnty
The preparation of the financial statements requires management to make judgements, estimates and
assumptions that affect the amounts reported. These estimates and Judgeme￿IS are continually reviewed
and are based on experience and Dlher factors, including expectations of future events thal are believed lo
be reasonable under the circumstances.
Page11

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS, SPALDING
NOTES TO THE ACCOUNTS
for the year ended 31st December 2023
2 INCOME AND ENDOWMENTS
Unrèstricted Restrlcted Endowment
Funds
Funds
Funds
TOTAL FUNDS
2023
2022
2a Donations and legaGies
Planned giving
Envelopes
Bankers orders
Income tax recovèred
Plate collections at services
Legacies
Sundry donations
7,437
36,867
11,651
4,742
7,437
36,867
11,651
4,742
6,999
49,385
10,215
3,986
23,115
83.812
15,030
15,030
38,145
98,842
54,425
125,010
2b Other voluntary income
Grants
Fetes and other fund raising events
3,329
3,329
750
3,329
3,329
750
2c Charitable and ancillary trading income
Shop, tidings and 200 Club
Choir fund
Church Hall lettings
Fees
2,171
1,413
3,295
25,746
65
30,519
3,584
3,295
25,746
5,354
37,979
4,222
2,468
18,358
5,288
30,336
5,289
7,460
2d Income frorn investments
Dividends and interest
Realised gains
3,588
7,058
10,646
9,152
3,588
7.058
10,646
9,152
2e Other income
Value Added Tax recovered
1,291
1,291
1,291
1,291
17,670
17,670
TOTAL INCOME
94,601
50,428
7,058
152,087
182,918
Pagè 12

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS, SPALDING
NOTES TO THE ACCOUNTS
for the year ended 31st December 2023
3 EXPENDITURE
Unrestrlctgd Restricted Endowment
Funds
Funds
Funds
TOTAL FUNDS
2023
2022
3a Costs of raising funds
Fetes and other fund raising events
3b Charitable activilies
Directly relating to the work of the church
Ministry.. parish shar8
clergy travelling expenses
Church running expenses
Church maintenance
Fabric fund expenditure
Children and youth groups
Shop expenditure
Church yard maintenance
Church Hall running costs
Organists and choir masters
Sacristan
25.000
583
24,572
198
25,000
583
24,572
198
11,892
7,589
300
3,480
27,518
11,959
360
113,451
20,000
720
20,473
628
72,108
7.514
500
360
48,130
7,776
327
178,536
11,892
2,359
5,230
300
3,480
27,518
11,959
360
71,682
41,769
Management and administration
Printing, stationery and copier
Printing tidings
Postage
Parish office assistants
Parish administrator
Telephone
Subscriptions
Parish offiGe running expenses
Refuse Gollection
Miscellaneous expenses
200 Club prizes
Use of Hall
Independent examiner's fee
1,859
2,080
79
8,516
10,571
2,019
312
1,885
490
2,158
1,859
2,080
79
8,516
10,571
2.019
312
1,885
490
2,158
775
720
305
31,769
1,966
1,931
96
5,415
9,651
1,773
291
980
252
2,543
1,040
720
288
26,946
775
720
305
30,994
775
102,676
42.544
145,220 205,482
3G Grants
Missionary and ¢harilable giving
6,500
6,500
5,760
TOTAL EXPENDITURE
109.176
42,544
151,720
211,242
Page 13

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS, SPALDING
NOTES TO THE ACCOUNTS
for the year ended 31st Decembèr 2023
4 FIXED ASSETS
4a Tangible fixed assets
The tangible fixed assets comprise the church hall which is shown at original net cost. The value for
insurance purposes at 31st December 2023 is £1,973,000 (2022 £2,960,000).
4b Investments
Investments are shown at market value. The historical cost of investments held at 31 st De￿mber 2023
is £82,552 (2022 £82,552).
5 ANALYSIS OF NET ASSETS BY FUND
Unrestricted Restricted Endowmgnt
Fund5
Funds
Funds
TOTAL FUNDS
2023
2022
Fixed assets
Curr8nl ass8ts
Current liabilities
139,513
89.030
140,823
280,336
96,795
(3,935)
269.699
93.094
1601)
7,765
13,935)
Fund balance
3,830
228,543
140,823
373,196
362,192
6 DEBTORS
2023
2022
Income tsx recoverable
Prepayments and accrued income
1,634
3,861
1,631
1,848
5,495
3,479
7 LIABILITIES: AMOUNTS FALLING DUE IN ONE YEAR
2023
2022
Accruals
3,935
601
3,935
601
Page 14

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS, SPALDING
NOTES TO THE ACCOUNTS
for the year endod 31st December 2023
8 EMPLOYEE EMOLUMENTS
2023
2022
Salaries
24,763
24,763
20,844
20,844
During the year the PCC employed a parish administrator, two parish office assistants and
a church hall cleaner.
Organists and sacristan were self-employed.
g FUND MOVEMENTS 2023
Balance
011011023
Funds
added
Funds Investments Funds
Balance
used
transferred 3111212023
a Unrestricted
PCC general
18,405
18,405
94,601
94,601
109,176
109,176
3,830
3,830
b Restricted
Church Hall
Fabric
School building reserve
Vicar, wardens, organ, legacies
Belfry
Choir
200 Club
23,032
133,788
4,039
40,898
41
2,605
2,202
206,605
40,746
2,879
180
1,820
95
3.295
1,413
50.428
(27,518)
(11.892)
36,260
138,829
4,219
42,718
136
3,541
2,840
228,543
6,996
7,058
(2,359)
775
(42,544)
6,996
7,058
c Endowment
Fabric
Richardson Trust
135.182
2,000
137.182
7,058
3,641
(7,058)
138,823
2,000
140.823
7,058
3,641
7,058
Combined funds total
362,192
152,087 (151,720)
10,637
373,196
Pagp15

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS, SPALDING
NOTES TO THE ACCOUNTS
for the year ended 31st December 2023
9 FUND MOVEMENTS 2022
Balanc&
011011022
Funds
added
Funds Investments Funds
Balance
used
transferred 3111212022
a Unrestricted
PCC general
3,515
3,515
102,059
102,059
{87,169
87,169)
18,405
18,405
b Restricted
Church Hall
Fabric
School building reserve
Vi¢ar, wardens, organ, legacies
Belfry
Choir
200 Club
27,804
186,286
4,037
37,417
281
2,932
1,521
260,278
43,358
25,125
(48,1301
(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)
(3,7941
135,182
2,000
137,182
3,794
(13,060
3.794}
Combined funds total
414,035
185,858 {214,182)
(23,519)
362,192
P8ue 16