PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS, SPALDING
CHARITY COMMISSION REGISTERED NUMBER 1132847
ANNUAL REPORT
AND
FINANCIAL STATEMENTS
OF THE
PAROCHIAL CHURCH COUNCIL
For the year ended 31st December 2024
Incumbent:
"In Vacancy"
The Parsonage
1 Halmer Gate
Spalding
PE112DR
Independent examiner:
Andrew Smith FCA
Salway and Wright
32 The Crescent
Spalding
PE11 1AF

THE PARISH OF sr MARY AND sr NICOLAS SPALDING
ANNUAL REPORT OFTHE PAROCHIAL CHURCH COUNCIL
FOR THEYEAR ENDED 31￿DECEMBER 2024
Mission Statement
We aim to be o loving ond welcoming Christion community.. honouring God in worship, following Christ in our lives ond
porticipoting in his Mission.
Administrative information
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, I
Halmer Gate, Spalding, PEII 2DR.
The Parochial Church Council IPCC} 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 2024 until the date of the Annual Parochial Church Meeting are-
Incumbent..
The Revd John Bennett {Choir, retiredjune 2024)
Other clergy..
The Revd Aileen Workman (Associote Vicor, retiredJGnuary 2024)
Reoder..
Mrs Sue Slater
Wordens..
Mrs Penny Adams (resigned Morch 2024), Mrs Valerie Fairbanks, Mrs Jean Hill (Lay vice chair)
Generol Synod representative.. Mrs Sue Slater
Representatives on the Elloe West Deonery Synod elected Moy 2024 retiring 2026..
Mrs Melanie Sharp; Mrs Sue Slater lex officio)
Elected member5.'
Retired in 2024 Mrs Valerie Fairbanks, Mr John Holmes and Mrs Julie Laithwaite
Retiring in 2025 Mrs Wendy Chew, Mr Paul Coleman and Mr John Holmes
Retiring in 2026 Dr Sarah Chadd, Mrs Robyn Firth and Mr Nicholas Pitts
Retiring in 2027 Mr Oliver Abrams, Mrs Ann Cadwallader. Mrs Julie Laithwaite and Mr lan Wright
The Parlsh Administrator, Dr Sarah Chadd, acts as the Secretaryto the PCC.
Structurei governance and management
The method of appointment of PCC members is set out in the Church Representation Rules. Representatives of the
parishioners are elected for three years, with a 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 responsibility for such matters as compliance with health and safety, disability discrimination
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 transact the business of the PCC
between its meetings, subject to any directions given by the Council.
2. The Finance Team manages, monitors and reports the finances of the PCC
3. The Property Committee manages, maintains and develops PCC property including the church building,
churchyard and boundaries, with oversight of The Vista Hall
The Hall Managementsub-committee administers all aspects of the upkeep and running of the Vista Hall. It
oversees the public and church use of the hall.
The list of members of the various committees and teams, the scheme of 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.
Objectives and activities
The PCC has the responsibility of co-operating with the Vicar in promoting in the ecclesiastical parish the whole
mission of the Church, pastoral, evangelistlc, 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 15 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 Spalding Local Mission Partnership, which also includes
churches in the Glen, Gosberton and Weston groups.
The PCC cooperates with joint ecumenical activities.
Page I

Connected charity
The PCC acknowledges the significant support receNed 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 (previously occupied by the Associate Vicar but now a private letland 6 Chambers Court (previously
leased to the Diocese and occupied by the curate but now a private let). They also 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.
Achlevements and perfomiance
Church attendance
Following revision in 2024, there were 163 people on the Elertoral Roll. A number of those on the Roll were not
resident within the parish. The Electoral Roll will be renewed in advance of the 2024 APCM.
There is a Parish Eucharist at 10.30am on a Sunday morning which continues to be livestreamed as well as being
available afterwards online and Sung Evensong at 6.30pm. Average weekly attendance, is estimated to be 105 adults
and 35 under 16's. The number of people regularty engaging with the livestreamedlrecorded worship is estimated to
be about 6 but the livestreams are accessed by a larger number of people.
Review of the year
l The Church has continued to develop, and the report reflects this.
2 Church meetin8s are held regularlyi and attendan￿ was good.
The PCC has continued to engage with the Diocese of Lincoln's Tlme to Chan8e Togetherf initiative. The PCC
reviewed its previous decision to be a Type 2- Local Mission church and in June 2024 and revised this to become
a Type l - Key Misslon Church. The Parish paid a Covenant pledge of £25,(X)O 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 of Local Mission Partnerships.
4 Aileen Workman retired as Associate Vicar at the end of January 2024. This part-time post was funded by the
Feoffees.
5 Revd John Bennett retired at the end of June 2024 after servln8 in the Parish for lust over 14 years. On the
th
morning of 30 June there was service to celebrate Revd John Bennetys 40 anniversary of ordination, followed
later in the day by tea and a farewell Evenson8 service. The Parish will miss both John and his wife, Mary's
contributions to parish life and wishes them well in their retirement.
6 During the resulting interregnum, the Parish has been generously supported by local retlred clergy Revd Michael
Bullock, Revd lan Walters and Revd Pat Willson as well as Revd Greg Bannister and Revd Richard Knowles from
Spalding, St John. In Ortober 2024, Revd Canon Darren McFarland was appointed as Interim Minister on a part-
time basis. The PCC are very grateful to the Diocese, particularly Bishop Nicholas for facilitating this as well as the
Spalding Rectory Feoffees for funding this appointment.
7 The process of appointing a new Vicar of Spalding began in March 2024 with a meeting with Bishop Nicholas.
Over the following months a Parish Profile was produced, the vacancy was advertised in September with
interviews in November. In January 2025, it was announced that the Revd Robert Parker-McGee had been
appointed. Currently working as rector of the Box River Benefice in the Diocese of St Edmundsbury and Ipswich,
he will be licensed at a service on 22. July 2025. The Parish is exctted to begin working with the new incumbent,
Mrs Sue Slater renewed her Permission to Officiate to preach and lead worship as a Reader in the parish but due
to health issues has not been able to assist in recent months. Dr Peter Gorton, who was a Reader in the Parish for
over 30 years sadly died in September 2024.
Porish loy ministers
9 Jean Hill (Parish 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 mointenance and ornaments
10 Essential routine maintenance and repair has continued. Planning for a replacement heating system is Still a
priority. In addition to the above, the Quinquennial Inspection was carried out and the report received identifies
the need for significant work to the spire as well as more routine maintenance of exterior stonework and roofing.
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.
Page 2

The Visto Hall
11 The Hall continues to be a popular venue and hosts a variety of regular exercise, rnartial arts, dance and sports
classes as well as social groups and societies. The Hall is also available to hire for private parties and events. The
PCC thanks, Mr Jim Lloyd for his work as volunteer caretaker.
This year has seen only routine maintenance and repair work, but further refurbishment work is being planned
for 2025 and beyond.
Letting income for the 12 months of 2024 was £23.012 with expenditure of £23,401 resulting in a small deficit on
the year. The Hall Management Committee paid for its share of the insurance premium (£1,000) and waived the
PCC contribution for the use of the Hall for Church activities. The year-end fund balance was £20.193.
Ministry amongst children and young people
12 The PCC is committed to offering music as a means of outreach to children, young people and their families. This
work is led by Nicholas Pitts, Direttor of Music who is supported by Alexandra Stacey (Director of the Girls, choir)
and David Bishop (Assistant Organist).
The Choir, comprising a total of over 70 men, women, boys and girls sing every Sunday at the 10.30am Parish
Eucharist seniice and at Evensong. Several families of children in the choir attend worship.
The associated Choir Club which runs every Wednesday afternoon provides a range of artivities and outings
throughout the year for the approximately 40 boys and girls. These artivities are funded in full to enable
everyone to participate. The Church is very grateful to the team of volunteers who supervise at the club.
Discipleship
13 An open discussion group, 'Godly Conversations, was held in church again during Lent. The weekly meetings were
well attended and much appreciated.
Outreach
14 Once again, the town held a Flower Parade in May. This event was very well attended, and the church was
decorated and offered a welcome to many visitors.
15 The volunteer co-ordinator role was introduced in 2023 to give volunteering opportunities to people of all ages
and backgrounds to support them in their personal and career development and to broaden what the church can
offer to the wider community. Over the past year existing teams, such as the church shop, cleaners and flower
arrangers have gained some new recruits. Plans to create a wildlife area in the church grounds, have given
additional opportunities to work with schools and young people undertaking Duke of Edinburgh awards. We
have also created monthly Tea and Cake dropin sessions and a Card Making Craft Group which gives people a
warm, safe and supportive environment in which to come and share skills.
16 St Mary & St Nicolas was selected to h05t one of the Royal Foundation Carols Services in December 2024.
Occasional offices
17 Opportunities for pastoral contact with people from Spalding through the regular ministry at baptisms1261,
marriages13) and funerals (13 in church and a further 3 at Crematoria or the Cemetery) continue. There has been
an ongoing decline in the number of funerals condurted by clergy.
Relationship with schools
18 We welcomed groups from various schools in the district for educational visits and Spalding schools came to the
church for Christmas seNices during December 2024. Over 3.4￿ students, staff and parents attended these
services. Clergy attended and led Collective Worship at Spaldin8 Parish Church School (until June 2024) and
Ayscoughfee School (until January 2024). These links are important and it is hoped that they will continue once
the new incumbent in in post.
Ecumenicol relations
19 St Mary and St Nicolas participated in the Good Friday walk of witness.
Members of our church have continued to assist Wbth the Agape Food Bankthroughout 2024. The church has
continued to make significant financial contributions to this project as part of its mission giving.
Other motters considered by the PCC
20 We have a dedicated membership of 20 members of the Mothers, Union managed by Branch Leader, Jean Hill.
Members meet on the second Monday of each month in The Vista Hall. Each meeting begins with prayers followed
by a visiting speaker. There is a meal once a year usually in January and Afternoon Tea in September.
Page 3

21. The Parish continues to produce a weekly notice sheet as well as having an up-to-date website and good social
media {Facebook) presence. The Vicar produced a bi-monthly round-up of information and news as "Notes from
the Parsonage" and the Churchwardens have continued to produce something similar, as required, during the
vacancy.
22 Dr Sarah Chadd continued to provide administrative, secretarial and financial/accounting support to the PCC and
its sub-committees in her role as Parish Administrator. Julie LaÉthwaite takes the lead on weddings and baptisms
as well as being key in managing Hall bookings. Maxine Arnott, Julie Laithwaite and Sarah Chadd cover Monday,
Tuesday, Wednesday and Friday mornings in the office and provide administrative support to Spaldin& St Paul as
well as St Mary & St Nicolas.
23 Safeguarding
The PCC continues to implement House of Bishop's Safeguarding Policies and Practice Guidance. This year the
Parish has continued to develop and improve practice. There is a dedicated mobile phone number as well as an e-
mail address for confidential reporting.
During the year, the Vicar and Safeguarding Officer have continued to work with the Diocese to manage a
SafeguardingAgreement arisingfrom a serious incident in 2022. A disclosure received in late 2024 resulted in action
being taken with the assistance of the Diocesan Safeguarding Team. The Parish is verygrateful forthis support, the
ongoing advice and help with Safeguarding.
24 Financial review
Total receipts on ordinary, unrestricted funds were £99,65912023 £94,601) and are detailed in the attached
flnancial statements. Total Planned Giving was £41,488 (2023 £44,304). The Gift Aid recovered on all eligible
donations was £11,229 (2023 £11,651). The majority of the remaining income comprised a grant of £25,00012023
£15,000) from the Spalding Rectory Feoffees and fees of £4,768 (2023 £5,289).
The agreed Covenant Pledge for 2024 of £25,IXM) was paid in full.
A total of £5,500 was distributed from the Mission Fund to various projects. 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 surplus of incorne over expenditure in the unrestricted fund of £2,15212023
deficit £14,575). There was a deficit of income over expenditure on the restricted funds of £17,00412023 surplus
£14,880} and there was a surplus of income over expenditure on the endowment funds of £12,94512023 surplus
£10,699}.
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 annually.
It is PCC poliry to maintain a working balance 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 has agreed to utilise the Fabric Fund to undertake all of the works identified in the Quinquennial Inspection
report,
Fund balances are held in the CBF Church of England Investment Fund and in other approved investments (details of
which are available on request). The PCC last reviewed its investments in 2013 and decided to retain the current
arrangements as producing the best return.
In conclusion
We are grateful to all those who have contributed in so many different ways to enhancing the mission 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,
Mrs Jean Hill {Lay Vice chairl
2fh April 2025
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 2024
I report on the accounts of the PCC for the year ended 31 De￿mber 2024 which are set out
on pages 6 to 16.
Responsibilities and basis of report
As the PCC'S members. you are responsible for the preparation of the accounts in
accordan￿ with the requirements of the Charities Act 2011 ("the Act").
I report in respect of my examination of the PCC'S accounts carried out under section 145 of
the Act and in carying out my examination I have followed all the applicable Directions given
by the Charity Commission under section 145(5)(b) of the Act.
Independent examinerfs statement
I have completed my examination. I confimi that no material matters have come to my
attention in connection with the examination giving me cause to believe that in any material
respect:
accounting records were not kept in respect of the charity as required in section
of the Act; or
2. the accounts do not accord with those ￿cOrds. or
3. the accounts do not comply wth the applicable reqU1￿MentS 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 fairf, view which is not a matter
considered as part of an independent examination.
I have no concems and have come across no other matters in connection with the
examination to which attention should be drawn in this report in order to enable a proper
understanding of the accounts to be rea
A,1. s. Il,
Andrew Smith FCA
Salway and Wright
32 The Crescent
Spalding
PE11 1AF
Date: 28th April 2025
Page 5

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS, SPALDING
STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31st December 2024
Unrestrlcted Restricted Endowment
Funds
Funds
Funds
TOTAL FUNDS
2024
2023
INCOME AND ENDOWMENTS:
Donations and legacies
2a
93,677
267
93,944
98,842
Other voluntary incoming resources
2b
750
750..
3,329
Charitable and ancillary trading
2c
5,232
33,176
38,408
37,979
Investment income
2d
5,670
10,325
15,995
10,646
Other income
2e
1,234
1,234
1,291
TOTAL
99,659
40,347
10,325
150,331
152,087
EXPENDITURE
Costs of raising funds
Charitable activities
3b
92,007
59,977
151,984
145,220
Grants
5,500
5,500
6,500
TOTAL
97,507
59,977
157,484
151,720
(LOSSES)IGAINS ON INVESTMENTS
unrealised
2,626
2,620
5,246
10,637
NET INCOMEIEXPENDITURE
2,152
(17,004)
12,945
(1,907)
11,004
Transfers between funds
10,325
{10,325)
NET MOVEMENT IN FUNDS
2,152
(6,679)
2,620
(1,907)
11,004
RECONCILIATION OF FUNDS
TOTAL FUNDS AT 1ST JANUARY 2024
3,830 228,543
140,823 373.196
362,192
TOTAL FUNDS AT 31ST DECEMBER 2024
5,982
221,864
143,443
371,289
373,196
Page 6

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS. SPALDING
BALANCE SHEET
as at 31st December 2024
2024
2023
Note
FIXED ASSETS
Tangible fixed assets
4a
17,300
17,300
Investment assets
4b
268,282
285,582
263,036
280,336
CURRENT ASSETS
Stock
854
854
Debtors
7,070
5.495
Cash at bank and in hand
81,914
90,446
89,838
96,795
LIABILITIES: AMOUNT FALLING
DUE WITHIN ONE YEAR
4,131
3,935
NET CURRENT ASSETS
85,707
92,860
NET ASSETS
371,289
373,196
FUNDS
Unrestricted
Restricted
Endowment
9a
9b
5.982
221,864
143,443
371,289
3,830
228,543
140,823
373,196
Approved by the Parochial Church Council on 27th April 2025 and signed on its behalf by:
Jean Hill (Lay WI￿ Chair)
Melvyn Price (Treasurer)
Page 7

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS. SPALDING
NOTES TO THE ACCOUNTS
for the year ended 31 st December 2024
1 ACCOUNTING POLICIES
The nature of the charity's operations and principal activities is the provision of the Church of England
religious services to the communty within Èts parish boundaries.
Basls of preparatlon of financlal statements
The chanty constitutes a public benefit entity as defined by FRS 102. The financial statements have been
prepared in accordance with Accounts'ng and Reporting by Charits'es.. Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (as updated through
Update Bulletin 1 published on 2 February 2016), the Financial ReportÉng Standard applicable In the United
Kingdom and Republic of Ireland (FRS 102) and the Charits'es Act 2011.
The financial statements are prepared on a going concem basis under the historical cost convents'on,
modified to include certain rtems at fair value. The financial statements are p￿sented in sterling which is
the functional currency of the charity.
The signifi'cant accounting policies applied in the preparation of these financial ststements are set out
below. These policies have been consistently applied to all years presented unless otherwise ststed.
Income recognltlon
All incoming resources are included in the Statement of Financial Activrties (SOFA) when the charity is
legally entitled to the income after any perfomance conditions have b*n met, the amount can be
measured reliably and it is probable that the Income will be received,
For donations to be recognised, the charity will have been notified of the amounts and the settlement date in
writing. If there are conditions attached to the donats'on and this requires a level of performance before
entitlement can be obtained then income Is deferred until those Condib'ons are fully met or the fulfilment of
those conditions is within the control of the charity and It Is probable that they will be fulfilled.
Donated facilities and donated professional serVI￿S 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 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 such facilittes and SerVi￿s. A COr￿spOndIng amount is
recognised in expenditure.
No amount is included in the financial statements for volunteer ts'me in line with the SORP (FRS 102).
Further detail Is given in the Twstees, Annual Report.
Page 8

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS. SPALDING
NOTES TO THE ACCOUNTS
for the year ended 31st December 2024
1 ACCOUNTING POLICIES (contlnued)
Income recognition (continued)
Where practicable, gifts in kind donated for distributs'on to the beneficiaries of the charity are included in stock
and donations in the financial statements upon re￿ipt. If it is impracticable to asse&s the fair value at receipt
or if the costs to undertake such a valuation outweigh any benefits, then the fair value is recognised as a
component of donations when it is distributed and an equivalent amount recognised as charitsble 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, entitlement is the earlier of the charty being notEfied of an impending distribution or the legacy
being reoived. At this point, income is recognised. On occasion legacies will be notified to the charity
when it is not possible to measure the amount expected to be distributed. On these occasions, the legacy
is treated as a contingent asset and disclosed.
Investment income is eamed through holding assets for investment purposes such as shares. It includes
dividends and interest. Where it is not practicable to identify investment management costs incurred within
a scheme with reasonable accuracy the investment income is reported net of these costs. It is Included
when the amount can be measured reliably. Interest income is recognised using the effective interest
method and dividend income is recognised as the chantys right to receNe payment is established.
Expendlture rncognitlon
All expenditure is accounted for on an accruals basis and has been classffied under headings that
aggregate all costs related to the category. Expenditure is recognised wheE there is a legal or constructive
obligation to make payments to third parties, it is probable that the Sett￿rnent will be required and the
amount of the obligation can be measured reliably.
Grants payable to third parties are within the charitsble objectives. Where unconditional grants are offered,
this is accrued as soon as the recipient is nob'fied of the grant, as this gives rise to a reasonable
expectation that the recipient will receive the grant. Where grants are conditional relating to performance
then the grant is only accrued when any unfulfilled condib'ons are outside of the control of the charity.
Support cost allocation
Charitable expendrture compnses those costs incurred by the charity In the delivery of rts activrti.es and
seniices for its beneficiaries.
Govemance costs Include those costs associated ￿￿th meeb'ng the constitub'onal and statutory requirements
of the charity and include accountancy fees and costs linked to the strategic management of the charity.
Page g

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS, SPALDING
NOTES TO THE ACCOUNTS
for the year ended 31st December 2024
1 ACCOUNTING POLICIES {contlnued)
Support cost allocation (continued)
Support costs include all those overhead costs for utility services and other services and costs which are in
support of the activity. They have been allocated to activity cost categories on a basis consistent with the use
of resources.
Tangible flxed a880ts
Consecrated land and bulldlngs and moveable church furnlshlngs
Consecrated property is excluded from the accounts by s10(2)(a) of the Charits'es Act 2011. No value is
placed on moveable church fumishings held by the church wardens on special trust for the PCC and which
require a faculty for disposal Sin￿ the PCC consKlers this to be inalienable property. All expenditure
incurred during the year on consecrated buildings and moveable church fumishings, whether maintenance
or improvement, is written off as expenditure in the ststement of financial activities and separately disclosed.
Other bulldlng8
In the absence of a professional valuation. the church hall has been included in the accounts at its original
net cost and has not been depreciated as it is consKlered by the trustees to have a useful life at 31 December
2024 in excess of 50 years.
Herltsge assets
Heritage assets only arise when donated to the charity or, rf on acquisition, it is believed that they will further
the charity's objectives. Once acquired they wllll be presep4ed by the charity in order to keep their historical,
artistic, scientific, technological, geophysical or environmentsl qualities to such a high level as to contribute
to knowledge and culture. Herrtage assets are to be hekl for the foreseeable future.
Where information on the cost or valuab'on of heritage a&%ets is not available or the cost of providing such
infomiation significantly ouhveighs any benefit to the users of the accounts then heritage assets are not
recognised on the balan￿ sheet
The charity holds several heritage assets including a brass eagle lectem, a brass candelabra and a
grand piano and other items with historical qualities that are held and maintained principally for their
contribution to knowledge and culture, due to infomation on the cost or valuation of these items not being
available nor able to be obtained at a cost commensur* with the benefft to the users of the accounts
and to the charity for its own stewardship purposes. the assets are pu￿ty 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 2024
I ACCOUNTING POLICIES Icontinued)
Fund accounting
Unrestricted funds are available for use at the discreb'on of the trustees in furtherance of the general
objectives of the charity and have not been designated for other purposes.
Restricted funds are funds which are to be used in accordan￿ 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 restn'cted fund is set out In the notes
to the financial statements.
Endowment funds represent pemanent endowrnents. The capital of these funds can never be expended.
Investment income generated on the chartys endowment funds is available to be spent on maintenance
of the church fabric and is transferred each year to the restricted fabiic fund.
Debtors and credltors recelvablelpayable wlthln one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at
transaction price. Any losses arising from impaiment are recognised in expenditure.
Golng concern
The financial statements have been prepared on a going concem basis as the trustees believe that no
material Un￿rtaIntieS exist. The trustees have considered the level of funds held and the expected level of
income and expendrture for the 12 months from authorising these financial ststements. The budgeted income
and expenditure is sufficient with the level of reserves for the charity to be able to operate as a going
concem.
Judgements and key sources of e8tlmation un¢ertalnty
The preparats.on of the financial ststements requires management to make judgements. estimates and
assumptions that affect the amounts reported. These eskn'mates and judgements are conts'nually reviewed
and are based on experience and other factors, including expectabons of future events that are believed to
be reasonable under the circUmstan￿s.
Page11

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS, SPALDING
NOTES TO THE ACCOUNTS
for the year ended 31 st December 2024
2 INCOME AND ENDOWMENTS
Unrestricted Restricted Endowment
Fund¥
Funds
Funds
TOTAL FUNDS
2024
2023
2a Donations and legacies
Planned giving
Envelopes
Bankers orders
Income tax recovered
Plate collections at ServI￿S
Legacies
Sundry donations
6,812
34,676
11,229
5,268
6,812
34,676
11,229
5,268
7,437
36,867
11,651
4,742
35,692
93,677
267
267
35,959
93,944
38,145
98,842
2b Other voluntary income
Grants
Fetes and other fund raising events
750
750
3,329
750
750
3,329
2c Charitable and ancillary trading income
Shop and Heating fund
Choir fund
Church Hall lettings
Fees
799
6,088
26,269
20
33,176
1,263
6,088
26,269
4,788
38,408
3,584
3,295
25,746
5,354
37,979
4,768
5,232
2d Income from investments
Dividends and interest
Realised gains
5,670
10,325
15,995
10.646
5,670
10,325
15,995
10,646
2e Other income
Value Added Tax recovered
1,234
1,234
1,234
1.234
1,291
1,291
TOTAL INCOME
99,659
40,347
10,325
150,331
152,087
Page 12

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS. SPALDING
NOTES TO THE ACCOUNTS
for the year ended 31st December 2024
3 EXPENDITURE
Unrestricted Restrfcted Endowment
Funds
Funds
Funds
TOTAL FUNDS
2024
2023
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 expenditu
child￿ n and youth groups
Shop expenditure
Church yard maintenance
Church Hall running costs
Organists and choir masters
Sacristan
25.000
1,915
7,960
567
25,000
1,915
18,698
567
17,830
10,479
460
3,822
25,495
17,393
363
122,022
25,000
583
24,572
198
11,892
7,589
300
3,480
27,518
11,959
360
113,451
10,738
17,830
5,584
4.895
460
3,822
25,495
17,393
363
62,375
59,647
Management and administration
Printing, stationery and copier
Printing tidings
Postage
Parish office assistants
Parish administrator
Telephone
Subscriptions
Parish office running expenses
Refuse collection
MIS￿lIaneOuS expenses
Computer and softwa
Heating fund prizes
Use of Hall
Independent examinerfs fee
1,754
1,754
1,859
2,080
79
8,516
10,571
2,019
312
1,885
490
1,438
720
775
720
305
31,769
52
9,984
11,683
1,469
328
1,013
146
2,102
1,101
52
9,984
11,683
1,469
328
1,013
146
2,102
1,101
330
330
29,632
330
29,962
92,007
59,977
151,984
145,220
3c Grants
Missionary and charitable giving
5,500
5,500
6,500
TOTAL EXPENDITURE
97.507
59,977
157,484
151,720
Page 13

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS. SPALDING
NOTES TO THE ACCOUNTS
for the year ended 31st December 2024
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 2024 is £2.036,000 (2023 £1,973,000).
4b Investments
Investments are shown at market value. The historical cost of investments held at 31 st December 2024
is £82,552 (2023 £82,552).
5 ANALYSIS OF NET ASSETS BY FUND
Unrestricted Restrl¢tsd Endowment
Funds
Funds
Funds
TOTAL FUNDS
2024
2023
Fixed assets
Current assets
Current liabilities
142,139
79,725
143,443
285,582 280,336
89,840
96,795
(4,133) (3,935)
10,115
(4,133)
Fund balance
5,982
221,864
143,443 371,289 373,196
6 DEBTORS
2024
2023
Income tax ￿cOVerable
Prepayments and accrued income
1,618
5,452
1,634
3,861
7.070
5.495
7 LIABILITIES: AMOUNTS FALLING DUE IN ONE YEAR
2024
2023
Accruals
4,131
3,935
4,131
3,935
Page 14

PAROCHIAL CHURCH COUNCIL OF ST. MARY AND ST. NICOLAS, SPALDING
NOTES TO THE ACCOUNTS
for the year ended 31st December 2024
8 EMPLOYEE EMOLUMENTS
2024
2023
Salaries
27,870
27,870
24,763
24,763
During the year the PCC employed a parish administrator, two parish office assistants and
a church hall cleaner.
Organists and sacristan were self-employed.
9 FUND MOVEMENTS 2024
Balance
Funds
011011024 added
Funds Investments Funds
Balance
used
transferred 3111212024
a Unrestricted
PCC general
3,830
3,830
99,659
99,659
97,507
97,507
5,982
5,982
b Restrlcted
Church Hall
Fabric
Youth work
Belfry
Choir
Heating fund
36,260
181,547
4,219
136
3,541
2,840
228,543
26,269
6,618
286
287
6.088
799
40,347
(25,495)
(28,568)
37,034
172,548
4,505
423
4,045
3,309
221,864
2,626
10,325
{5,584)
330
59,977
2,626
10,325
c Endowment
Fabric
Richardson Trust
138,823
2,000
140,823
10,250
75
10,325
2,620
(10,250)
75
10,325
141,443
2,000
143,443
2,620
Comblned funds totsl
373,196
150,331 (157,484)
5,246
371,289
Page 15

PAROCHIAL CHURCH.COUNCIL OF ST. MARY AND ST. NICOLAS, SPALDING
NOTES TO THE ACCOUNTS
for the year ended 31 st December 2024
9 FUND MOVEMENTS 2023
Balance
Funds
0110112023 added
Funds Investsnents 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
Youth work
Belfry
Choir
Heating fund
23,032
174,686
4,039
41
2.605
2,202
206,605
40,746
4,699
180
95
3,295
1,413
50,428
(27,518)
(11,892)
36,260
181,547
4,219
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
6,998
60
7,058
3,641
(6,998)
60
7,058
138,823
2,000
140,823
3,641
Comblned funds total
362.192
152,087 (151,720)
10,637
373,196
Page 16