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← The Parochial Church Council Of The Ecclesiastical Parish Of St Peter And St Mary, Stowmarket

2023-12-31-accounts

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ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ended 31st December 2023

The Parochial Church Council of the Ecclesiastical Parish of St Peter and St Mary Stowmarket

The Parochial Church Council of St Peter & St Mary, Stowmarket

Contents

Contents and Charity Details

Contents

Contents and Charity Details…………………………………………………………………………………… 1
Trustees’ Report……………………………………………………………………………………………………... 2
Independent Examiner’s Report……………………………………………………………………………… 8
Statement of Financial Actvites…………………………………………………………………………….. 9
Balance Sheet…………………………………………………………………………………………………………. 10
Notes to the Financial Statements………………………………………………………………………….. 11

Charity Details

Vicar: Rev’d Michael Eden Trustees: The Parochial Church Council Charity Commission Registration number: 1132857 (England and Wales) Principal Office: St Peter & St Mary’s Church Station Road West Stowmarket Suffolk, IP14 1ES Accountant: Ian Coombes (FCCA MBA) March Consulting (East Anglia) Ltd Friday Lane Cottage Church Lane Hitcham Ipswich Suffolk IP7 7NN Principal Bankers: CAF Bank Limited 25 Kings Hill Avenue West Malling Kent ME19 4JQ TSB Bank plc Henry Duncan House 120 George Street Edinburgh EH2 4LH

2023 Annual Report

Page 1

Trustee’s Report for the Year ended 31st December 2023

The Parochial Church Council of St Peter & St Mary, Stowmarket

Trustees’ Report for the year ended 31 December 2023

The Trustees, who are the members of the Parochial Church Council, submit their Annual Report and Financial Statements for the year ended 31st December 2023. The financial statements have been prepared in accordance with the relevant accounting policies and comply with Church Representation Rules, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with FRS 102, as updated February 2016.

Objectves, Actvites, Achievement and Performance

Main Actvites

The Parochial Church Council (‘PCC’) aims to promote in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical.

Public Beneft

The PCC is aware of its duty to ensure that the charitable activities of the Church further its charitable objectives and that these activities are for the purpose of public benefit. A review of the activities is included in this Annual Report and gives details of the way in which this has been achieved. The activities undertaken above are given careful consideration by the Trustees against the Charity Commission’s guidance on public benefit.

Achievements and Performance - Vicar’s Report

2023 was the first year for a while when all we did was not mainly influenced by the coronavirus. Social distancing and mask wearing was gone Although it was still around many people were being quite ill with it.

There has been a smooth transition into being Church in two different ways. There are the services and PCC and committees, and there is The Osier Cafe, regularly bringing thousands of people into Church each month. We have a ‘Pay It Forward’ scheme where customers can put money behind the counter to pay for drinks and meals for those who can't afford them. There is a Kindness Shelf from which people can help themselves to toiletries and other daily essentials. There have also been winter coats to be taken by those who need them. The Church is also a collection point for the town’s Food Bank. We provided a ‘Warm Space’ during the winter months and we funded the Osier Café to provide free drinks and meals for those who were struggling financially.

This is a very real expression of God's love in action in Stowmarket. We particularly attract young children with our play area and being a Dog Friendly Church draws in a new clientele too. This feeds into our incarnational expression of being Church in the town centre and welcoming people and helping to meet their needs. It is a living, practical expression of our mission statement, "Letting people know about the love of Jesus Christ".

Worship and prayer are central to the life of the church and in 2023 we continued with the pattern of one service on Sunday mornings at 10 a.m. with refreshments afterwards. During the week, we now have re-instated the lunchtime communion service every Thursday at noon. The evening service of praise and worship, once a month, led by Tony and Sarah Ingham and Richard and Jane Stretch,

2023 Annual Report

Page 2

Trustee’s Report for the Year ended 31st December 2023

The Parochial Church Council of St Peter & St Mary, Stowmarket

has continued to grow. The weekly Wednesday Online Prayer Meeting that began under lockdown, continues to meet.

We are still dealing with what a post covid and a covid damaged Church will look like, as attendance is on the rise; not necessarily with former members coming back, but with new people joining the Church.

The Register of Services shows the number of people who worship in our Church building. We also live stream our services and keep them available on YouTube. We a have significant following on the internet, increasing our Sunday congregation by over 50%. At the Annual Parochial Church Meeting in 2023 the electoral roll listed 107 (108 in 2022) members. Over the Year the Church was involved in at least 174 (107) acts of worship which 107 (43) included Holy Communion. There were 24 (14) funerals linked to the parish, of which 9 (5) were in Church. There were 2 (9) baptisms and 2 (1) weddings. As well as a monthly service in Woodfield Court and Chilton Court Care Homes we have started services in Langham Manor and Cedrus House.

We were involved in the Special Service in the Market Place to mark King Charles III coronation and we also hosted the Civic Service for our Town Mayor Cllr. Nick Gowrley. In the summer we opened up the Church to join in the town’s Food and Drink Festival and we gave our regular, annual support to the Historic Churches’ Ride & Stride. The Footprints Theatre Company included the Church in their ‘Stars of Stowmarket’ dramatic Tour of the Town and we provided a venue for ‘Tinklers Quest’.

The important work of installing a new bell frame, the refurbishment of our 8 bells and the provision of 2 new ones was completed this year. Bishop Martin baptised the bells and Bishop Mike rededicated them in February 2024. We had a new, more efficient boiler filled in the Church and this is reflected in lower gas bills.

The Church could not continue without all the good work done by the volunteers in the Church Office and we thank Jane stretch, Pat Wells and Charlotte Whyte for all the hard work they do keeping the office open 4 days a week. If anyone could volunteer, on a Wednesday, we would open every day.

St. Mary's Hall is the venue for the very successful, St. Peter and St. Mary's preschool, five days a week during term time. We also reach out to preschool children with Little Fishes who meet fortnightly in St. Peters Hall and our Boys Brigade and Girls Association Company have fun on a Tuesday evening.

The Clergy, Readers and Preachers meet once a month for discussion and planning. Groups for study, prayer and pastoral support meet regularly each week to study scripture, social issues and to offer pastoral support.

We have good relationships with other Christian denominations through Churches Together in Stowmarket. This year we came together for the Week of Prayer for Christian Unity, the Good Friday Walk of Witness and the Advent Carol Service. Churches Together also runs the Food Bank, a Pop-up Shop 2 mornings a week and Pause for Prayer at the United Reformed Church, each Thursday.

We are not a Church that is dictated by fundraising and the running of the Church is done through regular giving but there are books, CDs, DVDs and other bargains on sale in the Church at good value prices. These alone raised over £1300 in 2023, so thank you if you donated items to sell.

The Christmas Tree Festival brought in over a thousand visitors and we had the indoor bowling champions John and Katherine Rednall to switch on the lights for the opening night. Charlotte Whyte does a grand job as Festival Co-ordinator and with the help of her team the Christmas Tree Festival

2023 Annual Report

Page 3

Trustee’s Report for the Year ended 31st December 2023

The Parochial Church Council of St Peter & St Mary, Stowmarket

ran across the town in partnership with the Town Council, Maxwell Brown Property Agents and Red Gables.

Building on the Success of the Christmas Tree Festival, in 2023 we launched a Cross Festival which was supported by organisations and individuals from around the town. As the Christmas Tree Festival allows us to put across the true meaning of Christmas, so the through the Cross Festival we were able to help explain what Easter is all about.

I would like to thank all who have helped in the Church this year. All organisations, inside Church and out, are struggling to get people to commit to taking on positions of responsibility and that has been reflected in our Church too. A recent report said that a quarter of Anglican Churches are without Church Wardens. Although we were not able to appoint Church Wardens this year Kelly Fullman has helped as Assistant Warden and our new Treasurer, Jenny Hauk, has also filled in with some of the Wardens duties.

We have now had a year when our actions and activities have not been dictated by the coronavirus. We're not back to how we were before covid, but we never will be, which is why we look forward to the future where the congregation we now have will take the Church into this New Year and beyond.

We continue to reach out to those who can't get to Church using new technologies that are available online. We use Facebook and Twitter and our website to publicize our activities. Our YouTube channel allows us to live stream our Services which are all available afterwards. And thanks go to Martin Gray who is our chief technical expert and those others who have come forward to help with the audio visuals. The Prayer Network now sends out emergency prayer requests using WhatsApp.

We bring prayer to all Church activities as there is a real desire to put into practice the will of God and develop as a Church that is a true expression of the Kingdom of God here on Earth. It is as we do so that we are seen to be fulfilling our mission statement of LETTING PEOPLE KNOW ABOUT THE LOVE OF JESUS CHRIST.

Rev’d Michael Eden

2023 Annual Report

Page 4

Trustee’s Report for the Year ended 31st December 2023

The Parochial Church Council of St Peter & St Mary, Stowmarket

Financial Review

Total incoming resources in the year amounted to £272,882 (2022: £209,950), with total expenditure incurred at £291,892 (2022: £227,070). Overall the net movement in funds, when taking account of investments gains, was a net outflow of £15,633 (2021: net outflow of £21,844). The net assets of the PCC at the balance sheet date were £459,738 compared with £475,372 in the previous year.

The Church’s finances showed improvement this year from last, largely due to increased payments from the church charity. Giving showed a significant increase and finished the year well above budget. Tight control of costs allowed expenditure to finished the year slightly below budget. There is still an annual deficit of expenditure over income which is covered by the church charity payments. However, these are due to decrease in the coming years and it is anticipated that additional fundraising will be required. It is proposed that a regular program of events which would take place annually, in the same way as the Christmas Tree Festival, should be considered.

Investment policy and performance

There is no intention to retain funds over the longer term and cash not immediately required is placed on deposit with the Church of England. The Finbow Endowment Fund is an investment held and administered by the Diocese. Long Term Investment funds have been created to hold legacies, proceeds from the sale of Café 52 and monies for longer term projects. These funds have been invested by the Diocese on the church’s behalf in a mix of property and equity based funds managed by CCLI.

Reserves Policy

The General Fund is intended to carry three to four months balances to provide for contingencies in the coming year and to provide sufficient cash flow to cover the regular transactions. At the year end the balance on the General Fund amounted to £26750. This is approximately two months’ worth of expenditure in this fund. The Trustees will continue to closely monitor this balance in 2024 in conjunction with incoming resources and expenditure to meet its reserves policy going forwards.

The 3Rs balance will vary according to the expenditure on projects currently in progress and planned for the near future. This requires ongoing review by the Trustees year on year to ensure that the reserve held is sufficient for upcoming projects.

The balance carried forward on the Pre-school account is being retained for the future use of the Pre-school. Sufficient reserves are maintained in order for this to occur. A reserve fund, currently £21,275, and increased annually, is held in the Church accounts, to cover the eventuality of redundancies among the pre-school staff.

Funds arising from certain legacies currently remain unspent. The PCC is taking the prudent view that this money should remain invested until there is greater certainty about future income and expenditure.

2023 Annual Report

Page 5

Trustee’s Report for the Year ended 31st December 2023

The Parochial Church Council of St Peter & St Mary, Stowmarket

Structure, Governance and Management

The Parochial Church Council of St Peter and St Mary, Stowmarket is a body established by the Church of England. The PCC operates under the Parochial Church Powers measure 1956, as amended, and Church Representation Rules.

The PCC is also registered as a charity with the Charity Commission in England and Wales, charity no. 1132857, and the PCC members form the Board of Trustees of the Charity.

Trustees

The Trustees who served during the year were:

Rev’d Michael Eden (Chair) Matt Levett (Deanery Synod Representative) Peter Shoesmith (Deanery Synod Representative) Kerry Fullman (assistant Church warden Appointed May/June 2023) Judy Eden (Appointed April 2022) Syvlia Gooderham (appointed May 2023) Chris Cobbold (Resigned September 2023) Gerald Barnet (Ended May 2023) Michael Munson (Ended May 2023) Jenny Hauk (Treasurer Appointed June 2023) Rev’d Richard Stretch (Curate)

Administraton of the Charity

The Charity is administered by the Board of Trustees, which is the Parochial Church Council. The Trustees meet every month (except in August and December) to review the performance and governance of the Charity. The PCC has various committees reporting to it, grouped into three areas: Building and Finance; Mission and Outreach; Ministry and Worship. The PCC establishes other committees as required to deal with specific issues and events.

Recruitment, appointment and training of Trustees

The appointment of PCC members is governed by and set out in the Church Representation Rules. Members are appointed at the Annual Parochial Church Meeting and additional members can be coopted by the appointed members.

The Board recognises the need of Trustees to reflect a wide and diverse range of skills and interests. The Trustees will periodically review the composition of the Board, identifying the need for additional expertise where necessary. The majority of Trustees are identified through word of mouth and knowledge of the Charity. Trustees will review any potential candidate to ensure that they complement the Charity and the Board. Newly nominated trustees are usually briefed by the Chairman and receive background information on the Charity as necessary.

Trustees are normally appointed for a 3-year term. Because of the difficulties in recruiting people the 2022 Annual Parish Meeting agreed to waive this requirement.

Risk Assessment

Systems have been established which mitigate the major risks to which the Church is exposed. Major events, such as the Christmas Tree Festival, are subject to additional risk assessment.

2023 Annual Report

Page 6

Trustee’s Report for the Year ended 31st December 2023

The Parochial Church Council of St Peter & St Mary, Stowmarket

Safeguarding

Comprehensive safeguarding measures are in place, overseen by a Safeguarding Officer. The PCC has complied with the duty under Section 5 of the Safeguarding and Clergy Discipline Measure2016 (duty to have due regard to House of Bishops’ guidance on safeguarding children and vulnerable adults).

Trustees’ Responsibilites

The Charity Trustees are responsible for preparing a Trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to Charities in England and Wales requires the Trustees to prepare Financial Statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing the financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the requirements of the Church of England.

They are also responsible for safeguarding the assets of the Charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the Charity and financial information included on the Charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of the financial statements may differ from legislation in other jurisdictions.

Approved by the Trustees on 14[th] April 2023 and signed on their behalf by:

........................................................

Rev’d Michael Eden – Chairman

2023 Annual Report

Page 7

Independent Examiner’s Report

The Parochial Church Council of St Peter & St Mary, Stowmarket

Independent Examiner’s Report

2023 Annual Report

Page 8

Statement of Financial Activities for Statement of Financial Activities for Statement of Financial Activities for the year ended 31 December 2017the year ended 31 December 2017the year ended 31 December 2023

The Parochial Church Council of St Peter & St Mary, Stowmarket

________________

Statement of Financial Actvites for the year ended 31 December 2023

Notes
Income
Donations and Legacies
Other Trading Activities
Investments
Charitable Activities
Other
Total Income
1 and
2
Expenditure
Charitable Activities
Raising Funds
Total Expenditure
1 and
3
Net income/(Expenditure)
Transfer between Funds
5
Net income(expenditure) and net
movement in funds before gains and
loses on investments
Other Recognised Gains and Losses
Realised Gains/(Losses) on
Investments
8b
Movement in funds for the year
Reconciliation of Funds
Total Funds Brought Forward
Total Funds Carried Forward		 2023
2022
Unrestricted
Restricted
Endowmen
t
Total
Unrestricted
Restricted
Endow
ment
Total
Funds
Funds
Funds
Funds
Funds
Funds
Funds
Funds
£
£
£
£
£
£
£
£
85,195
62,153
0
147,348
65,679
42,011
0
107,690
364
6,526
0
6,890
221
6,666
0
6,887
3,380
6,975
0
10,355
1,488
667
0
2,155
28,163
79,910
0
108,073
18,741
74,156
0
92,897
216
0
0
216
321
0
0
321
117,318
155,564
0
272,882
86,450
123,500
0
209,950
139,458
151,683
0
291,141
131,174
94,055
0
225,229
485
266
0
751
81
1,760
0
1,841
139,943
151,949
0
291,892
131,255
95,815
0
227,070
-22,625
3,615
0
-19,010
-44,805
27,685
0
-17,120
10,598
-10,598
0
0
41,711
-41,711
0
0
-12,027
-6,983
0
-19,010
-3,094
-14,026
0
-17,120
0
0
3,377
3,377
0
0
-4,724
-4,724
-12,027
-6,983
3,377
-15,633
-3,094
-14,026
-4,724
-21,844
263,414
176,374
35,584
475,372
266,508
190,400
40,308
497,216
251,387
169,391
38,961
459,738
263,414
176,374
35,584
475,372

Statement of Total Recognised Gains and Losses

There were no recognised gains or losses for 2023 or 2022 other than those included in the Statement of Financial Activities

2023 Annual Report

Page 9

The Parochial Church Council ofNotes to the Financial Statements for theStatement of Financial Activities for the St Peter & St Mary, Stowmarketyearended 31 December 2017year ended 31 December 2023

Balance Sheet as at 31 December 2023

Note
s
£
Fixed Assets
Tangible Assets
Investments
Total Fixed Assets
8
Current Assets
Stock
Debtors
9
Short term deposits
Cash at bank and in hand
Total Current Assets
Liabilities
Creditors: amounts falling due
within one year
10
Net Current Assets
Net Assets
The Funds of the Charity
11
Unrestricted
Restricted
Endowment
Total Charity Funds
12		 2023
£
231,267
38,961		 189,508 2022
£
£
214,344
35,584
249,928
0
18,814
153,406
77,752
249,972
24,528
225,444
475,372
263,414
176,374
35,584
475,372		 2022
£
£
214,344
35,584
249,928
0
18,814
153,406
77,752
249,972
24,528
225,444
475,372
263,414
176,374
35,584
475,372
270,228
0
33,660
114,618
52,484		 249,928
225,444
200,762
11,254		 249,972
24,528
459,738 475,372
251,386
169,391
38,961		 263,414
176,374
35,584
459,738 475,372

Authorised by the Parochial Church Council on 17th April 2024 and signed on its behalf by :

…............................................... …............................................ Rev'd M Eden (Chairman) Churchwarden

2023 Annual Report

Page 10

The Parochial Church Council ofNotes to the Financial Statements for theStatement of Financial Activities for the St Peter & St Mary, Stowmarketyearended 31 December 2017year ended 31 December 2023

Notes to the Financial Statements for the year ended 31 December 2023

1. Accounting Policies

a) Basis of preparation

cost of transaction value unless otherwise stated in the relevant note(s) to the accounts.

Reports)

Standard applicable in the UK and Republic of Ireland (FRS 102) Issued on 16[th] July 2014 and update February 2016 rather than the Accounting and Reporting by Charities:Statement of Recommended P effective from 1 April 2005 which has since been withdrawn.

The Charity constitutes a public benefit entity as defined by FRS 102.

as a going

concern.

b) Fund Accounting

available for application to the general purposes of the charity.

Some of the other funds are similarly unrestricted, some are designated, and some are restricted. Designated funds are those that have been earmarked for a purpose but could still be used for gene PCC decided to do so.

Restricted funds may only be used for the purpose for which they are given.

The purpose of any designated and restricted funds are available from the treasurer The PCC does not invest separately

2023 Annual Report

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The Parochial Church Council ofNotes to the Financial Statements for theStatement of Financial Activities for the St Peter & St Mary, Stowmarketyearended 31 December 2017year ended 31 December 2023

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2023 Annual Report

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The Parochial Church Council ofNotes to the Financial Statements for theStatement of Financial Activities for the St Peter & St Mary, Stowmarketyearended 31 December 2017year ended 31 December 2023

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2023 Annual Report

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The Parochial Church Council ofNotes to the Financial Statements for theStatement of Financial Activities for the St Peter & St Mary, Stowmarketyearended 31 December 2017year ended 31 December 2023

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2023 Annual Report

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The Parochial Church Council ofNotes to the Financial Statements for theStatement of Financial Activities for the St Peter & St Mary, Stowmarketyearended 31 December 2017year ended 31 December 2023

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2023 Annual Report

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The Parochial Church Council ofNotes to the Financial Statements for theStatement of Financial Activities for the St Peter & St Mary, Stowmarketyearended 31 December 2017year ended 31 December 2023

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2023 Annual Report

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The Parochial Church Council ofNotes to the Financial Statements for theStatement of Financial Activities for the St Peter & St Mary, Stowmarketyearended 31 December 2017year ended 31 December 2023

2023 Annual Report

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