REGISTERID CHARITY NUMBKR: 1133566 Report of the Trustees #nd Unaudited Financial Slatements for the Year Ellded 31 December 2024 for THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Clifton-crick Sharp & Co. Lid Chartered Accountants 40 High Sireet Pershore WorceSteh1 WRIO IDP
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Contents ofthe Financial Statements FOR THE YEAR ENDED 31 DECEMBER2024 Page Reference and Administrative Details REFCI RENCE AND ADMINISTRATIVE DETAILS Report of the Trustees Independent Examiner's Report Stgtement of Finanelal Activilles 10 Balance Slieet Cash Flow Statement 12 Notes to the Cash Flow Statement 13 Notes to the Flnanelal Statements 14 to 29 Detalled Statement of Finanelal Activities 30 to 31
.i PAROCHIAL CHURCH COUNCIL OF THE 'CCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Referenee and Administrative Details FOR THE YEAR ENDED 31 DECEMBER 2024 PRINCIPAL ADDRESS Pershor¢ Benefice Office Alveslon House I l Broad Street Pershor¢ WRIO IBB REG ISTERED CHARITY NUMBER 1133566 INDEPENDENT EXAMINER Cliftoii-crick Sharp & Co. Ltd Chartered Accounlants 40 High Street Pershore Worcestershiit WRIO IDP SOLICITORS Stallard March & Edwards LLP Wor¢esier BANKCRS Barclays Bank Plc. Worcester Page I
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE RCI FERENCE AND ADMINISTRATIVE DETAILS FOR THI YEI AR ENDED 31 DECEMBER 2024 Vicar The Revd Canon Claire Lording Assistant Curate The Revd Jayne Parker Reader Mi- Peter Stansbte Church Wardens Mrs Suzanne Cl<irke (until 7 May 2024) Mrs Samantha Aiidi'ews Mr Martin Fowler (froin 7 May 2024) Deanery Synod Representatlves Dr Judith Dale Mr Jasoii El'Habid (from 16 July 2024) Mi. Martin Fowler Lay Representatlves Mrs Jean Andrews Mis Ann Bray Mrs Suzanne Clat*e {froni 7 May 2024) Mrs Susan Denley Mr Jason El'Habid (fi'oin 7 May 2024) Mi. David Long (until 7 May 2024) Mr5 Sandra Long Mr Williain Newm&n MKS Sarah Thomson S¢eretary to tlie PCC Mi's Saiz Speed (L&y Representative) Honorary Treasurer: Statemenl of Legal Status Mr FAlwai'd Deiiley (Lay Representative) Page 2
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Report ofthe Tru5tses FOR THI YEAR ENDED 31 DECEMBER2024 The trustees pSeTht their report with thc fancial stat¢ments of the charity for the year ended 31 Deceinbei" 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Stat¢ment 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) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objeetives and a¢livitie5 for the public benefit The Mission Statement adopted by the PCC reads To b¢ a Church community which responds to God'5 love in woi'ship and action. welcotnes all in the name of Jesus Christ and reaches out to ihe world iii Ihe power of the Spirit, We seek to be a Kingdom people., The PCC is committcd to welcoming everyone who wishes to w0h1p in the Abbey and to building th¢ Christian community of P¢rsboi'¢ through service5, wol'ship, prayer. music and sacrainent. When planning its activities, the PCC has considered the Charity Cominission's giiidance on public benefit and, in pai1icular the supplementary g)uidanc¢ on charilies for the advancement of i'eligion. In this it endeavours to enable ordinaiy people to live out Ilieir faith as part of the parish community through worship and prayer, pastOl'81 care and missionaiy and outt'each woll(. Thc PC.C is responsible foi. the Abbey Church and the parish centre of St Andrew's. The maintenance of these buildings, so Ihal th¢y ai'c acccssible to Ihe byeneral public and provide a venue for coiicerts and civic cvenls and are available as a I'esoiii'ce for the roinmunily, is at the heart of ils cliaritable objLYtives. ACHIEVEMEI NT AND PERFORMANCE A i'eview ofour gchievements and performane¢ A review of oui. achievements and pei'forniance Full details of ihe Itports from the Vicar, Chur¢hwardens and the vaiious groups active within the p.Ish are set out in a booklet presented to the Annual Meeting. Attendance The statistirs for the year, wilh Comparisons to 2023. are as follows: 2024 2023 Baptism Under l year Aged 1-12 Aged 13+ io 15 17 27 Communieints (and Total Altendanc¢) Easter Day Christmas (in¢luding Christmas Eve) 240 (290) 279 (908) 216(269) 268 (919) riorinal Sundxy Attendances Adults Cliildi'en 155 141 Oecaslon41 Serviees Weddings Blessings of Marriage Funerals- In Abbey Funernls- In Ci'einatorium io io 17 io 29 18 Page 3
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ABBF.Y CHURCH OF THE HOLY CROSS PERSHORE Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2024 ACHIEVEMENT AIYD PERFORMANCE Review of the Year When we look back on 2024 we can confidently Say thai many asp¢¢ls of AbY life flourished and giEw. There has been an energy and busyness that has been infectious and a reminder that the Abbey is a place where things can and do happen. It is always inspirii)g thal so many people contribute to Ilie Abbey's mission as we look to 'Worship God, Welcon)e All and Reach out to the World,. We ait cotnmitted to being a growing church and have been pleased that our avernge Sunday attendai)ce has increased again and is now 155, Ivhich is made up of both those who regularly attend the main 10'.30 service and those wlio <iltend the smaller services which also take place. It is important that we can off¢i- choice to worshippers, as many people who enter Ihe Abbey are not at home with Ihe Inain chordl Iradition. It has iherefore been pliCUlarlY pleasing lo see the gi'owth and development of Café Church. Sam Andirws and Ilie team have worked incredibly hard to develop a unique Café Church style which has attrdcled families and promoied the increase in tlie i)umbcr of children atteiiding chujch. It is steady progress as we continue to wod( towards our Healih and Suslainability aiin of having a minimuin of10 faniilies involved in Abbey life by 2027. Continuing ihe trend set last year, as we were still getting back to worshipping a5 a community after the Covid pandemic, we saw ali increase in communicants at Easier and Chrishna5. East¢r attendances showed paiticular growth, whicli was very encouraging. Oui. online worship provision has also continued to grow. What has been striking this year is that we have become aware of the reach of oui. online services, and how people who live in different parts of the couiity and even the world feel as if Ihey belong lo the Abbey family. We regularly hear from people far fr(Nn Persliore who share their appreciation of what we are doing and offer their prayer wid support. This h&$ been such a blessiiig and takes our aim to 'Welcome All, lo a whole new level. Some of our gi'owlh in worship attendance will be down lo the increased population of Pershore aiid our effective coijiniunicalion aiid mission slrdtegy across the local are4 but we a150 believe that the dev¢lopmeiil of oui. musical offering by James MacDowall-Scort, appoinled this year as our Director of Music. has Inade a signÉficant impact. Tlie choir has grown in meinbership and in confidence and its expanding repertOilE is appiEcialed by the re8tslai' ongitgations aiid visitors alike. James has dev¢loped a regular series of organ recitals and has ideas and enei'gy to expand our musical connection with children and young people, which we hop¢ will bear fruit in 2025. Although the nuniber of weddings we conducted remained the same as last year, the number of funei'als and baptisins which w¢ were involved with reduced signifi¢anily. Funerals were at 27 this year coinpared to 47 last yeai. and perhaps i'eflecls the wider social tt'end of families choosing a direct cremation or service led by a civil celebrant for their lov¢d on¢s instead of a s¢ivice requiring a minister. Baptisms were down from 27 lasi yeai. to 17 this year and it itmains to be seen wh¢lher this is the slait of a significant trend. We reniain commilled to our outreach lo chilth'en and faniilies and give tlianks for the deepening relatioiiships we have with our families. whicli is often expressed by attcndance at events and iiot always in presentation for baptism. Th has been much focus on our ministy of welcoine Ihis year. As membe{3 of the Welcome Direclory foi. prison leavers we wei'e proinpted to look at the welcome we offer across the board. Thei'e has been ongoing encourageinent and suppoit foi. Sally Whyle and the bookstall volunteers who do an Incredible job of welcoining visitors duriiig the week, The churchwardens and the sidespeople team have also reflected on the welcome tliey otrer at Sunday seivices. Our ministy has be suppleimented with tl)e addition of Sunday welcomei's. wlio connect with new people joining the worshipping community oi. visitors after the service. One of the higiilights of the year was the good qiiality of oui. welcome bging mentioned by Bishop Graham James in an article for the Church Times after he worshipped with us. Thyougliout the yeai. there have been many stand out events, concerts and service5 at the Abbey. It was a privilege to welcome the Archbishop of Canlerbury as part of his diocesan prayer Inission in Febrnary. The diocesan sei'vice lo celebrate tl)e 30tli anniversary of the ordination of women to ihe priesthood, which tied in beautifully wilh Revd Jayne Pai'kei's oj'dination as a priest in the Cathedral at Petertide, wa5 very moving. We welcoin¢d back Gonville & Caius Colleg¢, Cambridg¢ to sing for BBC Radio 3 Evensong. We also delivered the Service for All Saints, Day which was sh'ed on the Church of England's digital platfoiins. Page 4
THE PARoCHL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Repoi't of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2024 ACHIEVEMENT AND PERFORMANCE St Andrew's Centr¢ remains a cwcial tool in our mission and we feel privileged that we can offer the l'ight sort of space to so many different community groups. This year we said goodbye to Alison Jeynes as our cleaiier and welcomed Julic Hurfoid into that role. We continue to work towards taking over owJ)uship of the Ceiitre and look forward lo when the Church Commissioners are able to catch up with our enthusiasm. As always, the life of the Abbey, its mission and ministy, would not be whal it is without the dedication and commitment of so tnany volunteers, many of whom volunteer in several areas of Abbey life. They are a constant source of encoltrageinent and inspiration and help create a culture where everyone can feel able lo give of Iheii. tiine and taleiits if they wish. We have contiiiued to gyo from strength to strength in 2024. We have celebrated and invested Tn wl)at we know works and goes well but are always adamant ihat we are confident enough lo diswvei. new ways of eilabling our chuirli to fulfil God's mission in this place, and to be the Kingdom People God calls us lo be, Page 5
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVIEW Finaiicial position The income and expenditwE for the year w¢r¢ boih greatly dUCed in compatison with 2023, when the installation of the new oi'gan was Caled out. Annual income fell by £325.768 to £318,752 fn)m £644,520 in 2023. but if 2023 income related to the organ installation is excluded, incom¢ rose by around £16,000. Incoiiie froin regular giving, Ihrough standing orders and collections taken at services, rose by four per cent, reflecting the incr¢ase in Sunday attendance. It was a successful year for fimdraising as i'eceipts fir>m concert hires foi. the Abbey, rental of St Anthews. the Pershore Carnival and the Plum Festival were, in total, twenty-two per ceni high¢r Ihan foi. 2023. On the ollier hand, th¢r¢ was no Organ festival diis year. "rhe Friends donated £30,151 towai'ds the repointing of the nortli-east walls, repaiiE to the north aisle roof, partial replacement of the wooden walkways on the tower roof, and ligliting for Ihe bell-ringing platfonn. They also contt'ibuted to the tnaint¢nance of the new oan. The PCC is also grnlcful to St Andrew's Parish Cenlre Trust foi. grants of £530 foi. the upkeep of St Andrews. One legacy of £1,000 was received during tlie year. Annual expeiiditure reduced by £433,808 to £302,217 from £736,025 in 2023. The Inajority of the difference was due, again, to the Costs of coinpleling Ihe organ PiDjecl, which were £403,136 in 2023. Energy costs weie reduced by £8,600. The balaiice of the difference is mostly accounied for by reduced payments lo the Diocese of Worcesla. for Ministiy ShaiT and the Ministy Support Fund. The Abbey paid £60,000 for Ministty ShaTE, which is slightly inore than IOOO/o of its cominitment. Ministry Share Covers the salaiy and exrKnses of cleiw. In previous years the Abbey has made an additional donation to the Diocese of Worcestei's Ministry Support Fund, whicli assi51s oihei. Pk)rislies which cannot n)eet Iheii. Minisny Share target. A donatioIi of £45.050 was made in 2023 and of £49,887 iii 2022. These donatioiis wei'e aLhieved, against a background of a huge increase in energy cosls, by running down the Abbey's cash and savings reserves. Tliis was no longer sustainable and no donation to the Ministry Support Fund was made in 2024, Due to continuing generous support from the community. the Fo(*J Bank re¢'ded a surplus of £8,577, contt'ibuling to an overall opei'aling surplus of £9,300 for Ihe PCC.. The value of inveslments increased by £9,817 in the year. These investmenls are held foi. tlie long iemj aiid their total value at 31 Deceinber 2024 was £328,105. There was a inajor change in the composition of the investmenls in 2024. The provisions of the Chaiities Act 2022 allow cliurches to cash in any endowiiient fund with a value less ihan £25,000. The PCC was able lo close five funds with a total value of £53,872, The monics raised ait still deemed to be restricled funds wliicli can only be used for the purpose for which the original endowmeiits were made. These restricted funds support the maintenan¢¢ and irpair of the Abbey and St Andrews and the organ. The PCC has placed the fui)ds raised into a sepwate savings bank account called the "Cojnbined Support Fund" where they aR available in case of uent need. Page 6
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Report of the Trnstees FOR THE YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVIEW Fxbrle Report At th¢ start of 2024, the Fabric committee began with the knowledge that stonework repair was needed on the noi1h side, also the iioith-east comer and buttirsses. New crack5 had been spotted high up by ihose cleai'ing tlie guttets. (Foi. decades there has been slow movement in this part of Ihe Abbey buildiiig). As we were awaiting our Quinquennial inspection, sadly OUT Architect Robert Kilgoui, told us that he must r¢duce hi5 workload and in April resigned froin his role at Pershore Abbey and fi'oni several caihedra]s. We are most grateful to Robeit for all his attention and suppoit qs our architect for 17 y¢ars. After due piDce5s. in June thffe potential Ablw architects were shortlisted and iiilerviewed. All were inipregsive and Joanna Daykin was appointed as our n¢w archilect lo begin in August. After a short period to familiarise hei'self with ihe building, its history and our needs. she made her full Quinquennial Inspedion in Oclober the same time as ihe lim¢-Inortar rewinting of the slonework was being carried out by Treasure & Son, who enabled hei. not only lo sci'utinise, but also lo make use of tlie cheny-pi¢k¢i- lo take a closer look at the cracks. Her QI AEPOrt was coJiiple*d just before Cliristmas - priorities and projects were discussed in the n¢w year. The PCC Away-Day in March 2024 concentt7ted on again identifying priorities for development to ii))pIDv¢ our welcome- the incliide moly toilets, kitchenlhospitality facilities. choir spac¢. stoi'age. We need moir space! All this has becn passed on to our new arcl)ilect for her deliberation alongside the necds of the building after the QI. The wooden walkway at the top of ihe tower was partially replaced with more seclions lo be done. This is Ihe work of Jason MalIall who, in 2023, generously made and donated our peregrine nestin8 platform in 2024 he enabled us to ei'e¢t a caiiiera to live stream tlie activiiies of our peregrine family, the fiist chicks success11Y being hatclied in May 2024. Diiring 2024 the chuhwardenS and members of the Fabric Committee kept up with all routine maintenance and considered fiirther Ihc potential io adapt our healing system. To contribute significltlY to Net-zeiD cai'bon by 2030 is a great challenge bul we ui'e working at this Wlth advice froin professionals. Tlie lai'ge gas boiler is nearing tlie end of its life, and we are considering how lo introduce more sustainable low carbon energy surli as sol&i' paiiels and air-source heat pumps. Our thanks to Fiona Rice, minutes secrelary and members of ihe fabric committee, especially Roger Pip¢r who has retired aftei. over 20 years, to Canon Claire and the ¢liurchwardens for theii- support, Joanna Ddykin foi. her wisdom, atid lo the Friends of Pei'shore Abbey CIO who funded all stonework repair3 and d)e walkway as well as some of oui. mainleiiance including for th¢ Ruffatti pipe orgaii. Reserves Poll¢y Tlie policy of tlic PCC ts to maintain a minimum balance of £15,000 in its bar cunEnt account. Thi5 15 deemed to be ali adequate buffer to cover three months of net routine expenditure. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing do¢iiment Tlie PCC is a coi'porale body eslablisl)ed by the Church of England and operates under tlie Parochial Church Council Powe Measure. Tl)¢ PCC is a Registered Charity number 1133566. The PCC consisls of the Parish Priest, Readers, Churchwardens and membets elected by inembers of the congiEgalion who air oli the Electoral Roll. The PCC has powers to Co-opt niembers to fill iemporary vacancies. Tl)e PCC is responsible for the day to day manageinent of the parish and its finances and is helped in tliis work by a numb¢i' of comniittees dealing with pailicular aspects of parish life. Page 7
THE PAROCHIAL CHURCH COUNCIL OF THE ICCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Report of the Trusttes FOR THE YEAR ENDED 31 DECEMBER 2024 STRucfuRE, GOVERNANCE AND MANAGEMENT Safeguarding Having due regard to guidan issued by the House of Bishops on matters relaling to the safeguarding of chilth'en and vulnerable Adults. the PCC wÉshes to confimi that the guidance has been followed. Suzaniie Clarke has continued to act as Safeguarding O(fi¢er for Pershoi"e Abbey & the Benefice, assisted by Sai? Speed (SafegUafillg Cooi'dinator) and Judy Dale (Vulnerable Adults Repiuentative). We continue to have Safeguarding as a standing agenda it¢m for all PCC meetings and APCM, we ieview oiw policies annually. The Safeguardiijg officer has attended the Dio¢esan Safeguarding Netwo meetings ihi'oughout the year, and we Continue to Use Ihe online Parish Dashboard App. which Iielps us to monitor and keep li-ack of all safeguarding in our churcli. It also keeps us up to dal¢ with local and national ¢banges in safegU.dI1]8 r¢quireinenls. All leaders and helpers working wilh Children & Vulnerable Adults (at events for children, Open the Book, Toddler Gyoup); Chui'chwailens. PCC rnembcrs, Tower & Deputy Tower Bellringing Captain and Pastoral Visitors have valid DBS rertificatcs 7 DBS l)ave been processed, and safeguarding training has been compleled by 5 people during 2024, as both ale a requirement every 3 years. We planning to use the new safeguarding recruitment hub tracker in 2025. Volunteers The PCC wishes to express its gratitude to the many volunteers involved in different roles within of the life of the Abbey, and withoul whom it would be impossible to offei. the same variety of services. We are indebted to this genei'ous stewai'dship of time and service that is freely giv¢n 6 r145 &"zf Approved by orderof the board of trustees on.................... . and Si}ed on its behalf by: Trustee Page 8
Jndependent xaminer's Report to the Trtee$ of The Parochial Church Council of the Eeclesix5tical Parish of the Abbey Chuych of the Holy Cross Pershore Independent examiner's wepoi't to Ilie trustees of The Parochlal Church Councll of the Eccltslastlcal Parish of the Abbey Church of the Holy Cross Pershore I report to the chai'ity trust¢es on my examination of the accounts of The Parochial Church Council of the Ecclesiastical Parish of the Abbey Church of the Holy Cross Pershore (th¢ T1) for the year ended 31 Decembei. 2024. Responsibilities g4nd basis of report As the charity trustees of the TNst you are r¢sponsibl¢ for tlie pr¢pardtion of the accounts in accordance with the Itquir¢ments of Ihe Charities Act 2011 ('the Acf). I Itport in respect of my examination of the Twsvs accounts cairied out under Section 145 of tli¢ Act and in cai'rying out my exainination I have followed all applicabl¢ Direclions given by the Charity Commission under S¢clion 145(5)(b) of the Act. Independent exgmlner's statement Since youi. cliai'ity's gi'os5 incoine exceeded £250.000 your examiner musi be a inember of a listed body. I confiiin that l am qualified to und¢rtake Ilie examir]ation because l am a meinber of th¢ Institute of Chartered Accountan15 in England aiid Wales, which is oiie of the lisled bodies. have completed my examination. I confrn that no material rnatte have come to my attention in c(Mine¢tion with the examination giviiig me caus¢ to believe that in wiy material respect.. accountinb7 records were not kept in respect of the Trust as required by Section 130 of the Act; or the accounts do not accoi'd wilh those records; or th¢ accounts do iiot comply with the applicable requiremenls concerning the forin and content of accouiits Set oiit in the Charities (Accounts and Reports) Regulalions 28 oiher Ihan any requirement that the accounls give a true and fail. view which is not a matter considered as part of an independent examination. I have no ¢oncems and have come across no other matters in coiine¢tion wilh the examination to which attention should be di'awn in this I'epoil in ol-der to enable a proper und¢13tai)ding of the accounts to be reach. Meinir Biixl Clifton-crick Shai'p & Co. Ltd Chartered A¢countanÉs 40 Higli Street Pershore Worcestershire WRIO IDP -8oa Page 9
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Statement of Financial Activities FOR THE YEAR ENDED 31 DECEMBER 2024 31.12.24 Total fun(ts 31.12.23 Total funds Unrestricted funds Restricted funds Endowment funds Notes INCOMCI AND ENDOWMEIYTS FROM Donations and legacies 145.781 87,628 444 233,853 559,035 Chureh actlvities Chuirh activities 33,555 33,555 33,990 Other trdding aclivilies Investmenl income 44J31 44,331 7,013 43,548 7,947 6J53 660 Total 223,667 93,981 I,J04 318,752 644,520 EXPENDITURE ON Raising funds 205,259 91,524 3J34 3(Kl,117 733200 Chltrltable ftctivities Chui'cli activities 2,100 2,100 2,825 Totil 207 J59 91,524 3J34 302,217 736,025 Net gains on investments 4,590 5,227 9,817 32,594 NET INCOMU(EI XPENDITURE) Ti'aiisfers belween fiitids 16J08 7,047 51,641 2,997 (51,641) 26,352 (58,911) Net movemeiit in thnds 16a08 58,688 (48,644) 26,352 (58,911) RECONCILIATION OF FUNDS Tolal funds brought forward 30,995 125,043 282,250 438,888 497,799 TOTAL FUNDS CARRIED FORWARD 47a03 184,331 233,606 465,240 438,888 The notes forni part of these financial stateineiits Page10
THI PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Balance Sheet 31 DECEMBER 2024 31.12.24 Totsl funds 31.12.23 Total funds Unrestiicted funds Restricted fid$ Endowment fvn(ts Notes FIXED ASSETS TaiJgible assets Inv¢stnients 13 14 9,923 94,499 9,923 328,105 1 8.407 372,159 233,606 104,422 233,606 338,028 390,566 CURRENT ASSETS Stocks Debtors Cash at b]k and in hand 15 16 2262 7.344 39248 2,262 19,46.S 107,036 2,262 14,257 35,427 12,121 67,788 4&854 79,909 128,763 51,946 CREDITORS Ainouiils talling due within one yeai. 17 (1,551) (1,551) (3,624) NET CURRENT ASSETS 47J03 79,909 127,212 48,322 TOTAL ASSETS LESS CURRENT LIABILITIES 47J03 184J31 233,606 465,240 438,888 NET ASSETS 47,303 184J31 233,606 465,240 438,888 FUNDS Unresti'icted funds Restricted funds Endowment funds 19 47,303 184,331 233,606 30,995 125,643 282,250 TOTAL FUNDS 465,240 438,888 e financial statem¢nts were approved by the Board of Trustees and authorised for issue . and were signed on its behalf by: on Trustee Tl)e notes fom) part of these financial statements Pagell
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Cash Flow Slatement FOR THE YEAR ENDED 31 DECEMBER 2024 31.12.24 31.12.23 Notes Cash flow5 from operatlng activities Cash gellerad from operations 19,294 (160,671) Net cash pi'ovided byl(used in) operating activities 19,294 {160,671) Cash flows from inve$tiiig activltie Purchase of iangible fixed assets ,8ale of fixed asset investments InleiESt received (3,264) 53,871 674 181 Net cash provided byl(used in) investing activities 54,545 (3,083) Cash flows from finaneing activitie$ Inconie attributable lo ¢iidowineni ExpendituiE attributable to endowment 1,104 (3J34) Nel cash (used inyprovided by financing activities 12,230) Clian%e ift c4sh And cash equlvalents in the reporting perlod Casli and cash equivalents at the beglnnlng of the reporting period 71,609 (163,754) 3S427 199,181 Cash And cash eqiiivalents at the end of the reporllng pej'iod J07,036 35,427 The notes fonn part of these flnancial slaten)enls Page 12
THC PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Note5 to the Cash Flow Ststement FOR THE YEAR ENDED 31 DECEMBER 2024 RECONCILIATION OF NET INCOMEIffjXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.12.24 31.12.23 Net incomel(expendlture) for the reporting period (&8 per th¢ Statement of Financial Aetivities) AdJuslin¢nts for: Depreeittion charg¢s Gain on investments Interesl irceived Income ath'ibutable to endowment Expenditur¢ attributsble to endowment Increase in stocks (Increaseydeci'ease in debtors Decrease in thtditors 26,352 (58,911) 8,484 (9,817) (674) (1,104) 3J34 8,869 (32,594) (181) (2,262) 93,339 (168,931) (5208) (2,073) Nel ca511 provided byl(used In) oper8tions 19,294 (160,671) ANALYSIS OF CHANGES IN NET FUNDS At 1.1.24 Cash flow At31.12.24 Net cash Cash at bwik and in hand 35,427 71,609 107,036 35,427 71,609 107,036 Total 3S427 71,609 107,036 The notes forni part of these flnancial statements Page 13
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ABB1 Y CHURCH OF THE HOLY CROSS PERSHORE Not¢s to the Financial Statements FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUIYTING POLICIES Basis of preparing the financial statements Peishoir Abbey PCC is a Charity in England and Wales. Th¢ locaiion of the Abbey 15 given in the chai'ity infoiination on page l of these fmanctal slatemenls. The nature of the charity's operatioiis and principal activities ail desci'ibed on the Report of lh¢ Trustee5 on pages 3 to 7. The chai'ity constitutes a public benefit entity as defined by FRS 102. Tlie fiiiancial slatemenls have been prepai'ed in accoi'dance with the charity's governing documenL the Chai'ities Act 2011 and Accountii)g and Repoiting by Charities: Statement of Recommen(kd Practice applicable to charities preparing tlieir accounts in accordance with the Financial Reporting Standard in the UK and Republic of ireland published in Octobei, 2019 and UK Generally Accepted Th'aclice. The financial slatements have been piEpared under the historical cost convenlion, modified to include certain items at fair value. such a5 inveslments. The financial statements are presented in stei'ling whicli is the functional ¢iitYency of tlie charity and rounded to the nearest £ l. The financial slaiements include all transaclions, assets aiid liabilities for which the Pai'ochial Cliurch Couiicil is Irsponsible for by law. Th¢y do not include the accounts of chui'ch groups that owe their inain affiliation lo anothei- body. nor those thal are infonnal galheyings of chui'ch members. The tru,8tces Coiiclude that that cl)&rity has adeguatc )rsources to continue ils acÉiviti¢s foi. Ihe for¢seeable future and considei. that there were no Inaterial uncertainties ovei. the cl?arity's fmancial viability. Accoi'dingly, the rinaiicial statements are prep&td on ihe going roncem basis. The significant accounting policies applied in Ihe PT¢pwxlion of Ihese financial statements aiE sel out below, These policies have been consislLntly applied to all years presented unless olheiivise slated. Income recognlllon Plaiined giving* collections and donatlons are recognised when Irceived, Tax refuii(ts recognised when tl)¢ incoining Irsource to whicli they relate is received. Rents, fees, advertising, and grants are accounted for whe the PaiK)chial Church Council is legally entitled lo the amounts due, Interest on funds lield on dcposit is included when receivable and the amount con be measured r¢liably by the Lbarity. this is noi'inally upon notification of Ihe inlerest paid or payable by 11)e bank. Dividends are rerognised once tlie dividend lias been declared and nolificalioii lias be¢ii received of tlie dividend due. All other income is recognised 01)ce the Charlty has entitlement to tl)e income, it is probable tliat the incoine will be i'eceived, and the amount of incom¢ receivable can bc measured liably. No income h&s been declared net of expendilure. Lcgacics are recognised on receipt or otherwise if the charity has been notified of an irnp¢ndiiig distr'ibution, the amount is known, and itceipl is expected. If the amount is not knowii, th¢ legacy is hEat¢d as a contingent asset. Govei'nment and other grdnt income is recognised when the charity is entitled to the grnnt and any PiE-conditions are fiilly met. I xpendilure recognition Liabilities ate r¢cogni5ed as expendilure as soon as t1]e is a l¢gal or constiuctive obligation coiY]mitting the Charity lo that expenditure, it is pbabIe that settlement will be require¢ and ihe amount of the obligation can be measui-ed i'eliably. All expenditure 15 accounted for on an accruals basis and has been classified under headiiigs that aggregate all cost5 I'elated lo the category. Expenditure is recognised wh there is a legal or constructive obligation to make payii)ents lo tliird parties, it is probable that the settlemeiit will be required, and the atnount of the obligation can be iiieasured reliably. Page 14 continued...
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLII SIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Notes to the Fiiiancial Statements- tontinued FOR THE YEAR ENDED 31 DECEMBER2024 ACCOUNTING POLICIES- eontinued Expenditure reeognitlon IiTecoverable VAT is charged as an expense against the activity for which expenditure arose. Expenditure is genernlly recognised when it is incurred and is accounted for '05s. Grants and donations ar¢ accounted for when awarded or, in ihe case of collections paid away. when ihe event has occu1.d. Ministsy share is paid lo the maximuni exteiit available from cumt y¢ar unrestricted fund Allocalion of support and governance eost5 Suppoit costs ar¢ those that assist the work of the charity but do not directly r¢present charitable activities and iiiclude ofyice costs. governance costs, and administr2tiv¢ costs. They are incurred directly in support of ¢xpendilui'e on the objects of ih¢ charity. Where support Costs cannoi be ditrctly atti'ibuted lo particular headings, they have been allocated lo Cost of raising fui)ds and expendilure on charitable activities on a basis consislent with use of the resources. TanRible fixed assets Conseerated property In so far as conseci'ated property of any kind is excluded from the statutory d¢finition of 'charity' by Section 10(2) (a) and (c) of the Charities Act 2011 such assets are iiot capilalised in the financial s1otement5, 1.he cost of items whicli al'e considered 10 be an inlcgral part of consecrated pi'operty is expended in the financial staleinenls the yepr in which the expenditure is in¢uffed. Equipmeiit Moveable equipment (not forniing port of consecrated propety) is capitalised at cost where the cosl is al least £1,000. These assets are depreciated over Iheir useful economic life. Depreciation is provided by the chai'ity to write off the cost or valuation of tangible fixed assths ovei- their eslimated useful economic lives as 2(W/fy per aniium 51raight line. Stocks Stocks are valued at the lower of cosl or fair value, making due allowances for obsolete and slow-moving items. Taxation The chai'ity is exempt from tax on its charitable activities. FuThd8 Endowinent Funds are funds, the capital of which must be Inaintained; only iiicoine arising from investmeiit of tlie endowment may be used either as restricted or unrestricted fvnds depending upon the purpose foi. which the endowm¢nt was established. Restt'icted fund5 represent (a) income fr(xn Irusts or endowments which niay be expended only on those restricted objects provided in terms of the trust or bequest and O)) donalions oi grants received foi. a specific objeci foi. which ihey were given or inviied by Ilie Parochial Church Council for a 5pecifkc object. The fuE)ds may only be expended on Ihe specific object for which tliey were given and any balance reinainiiig unspent at the end of each yeai. must be carried forward 8s a balance on Ihat fund. UniEStricted funds are funds that are available for use ai ihe discretion of tlie Tiustees in furtherdnce of the objects of the charity. Designated funds are those set aside by the Trustees for a specific purpose. oreign cuwrenci Trdnsactions tn foreign cu¢CleS are recorded iising the rate of exchange ruling at the date of the transaction. Monetaty assets and liabilities denominated in foreign currencies are trnnslated using the rale of exchange ruli])g at the balance sheet dale, and the gain or loss on translalion is included in the Statement of Finan¢ial Activities. Page 15 coiitinued...
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OFTHE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Notes to tlie Financial Statements- eonlinued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES- eontinued Pensions Employees are entitled to join a defined contribution money purchase scheme with the National Employment Savings Trust. Donated goods ai)d serviees The Food Bai)k was donaled 14.817 kg (2023: 16,788kg) of food during the year and it distrtbuted 15,435 kg (2023- 17,619kg). The Trussell Trnst adopt a valuation of£2.50 per kg (2023.. £2.37 per kg). Th¢ donated stocks li¢ld at the yeai-_end have been included at £2262. DONATIONS AND LEGACIES 31.12.24 31.12.23 Stewardship giving Colle¢lions (at all services) Tax i'ecovery Lega¢i¢s Grants Donations and appeals Food bank donaiions St Andrews donations 75,118 20,703 74,108 18,895 12,921 1.000 392,504 16,965 38,912 3,730 1.000 54J71 17,721 47,207 146 233,853 559,035 OTHER TRADING ACTIVITIES 31.12.24 31.12.23 Abbey hire chai'ges Bookstall income Ma&iaziiie in¢oiiie PILlm Festival income Cai'nival Oi'gan Festival 15,8.fj4 10,369 7JlS 9,921 872 12277 6,636 6,675 9,371 726 7,863 44J31 43.548 INVESTMENT INCOME 31.12.24 31.12.23 Divideiid5 Sl Aiidrews, divid¢nds Bank inleresl 4,847 IA92 674 5,933 1.833 181 7,013 7,947 Page 16 coiitinued...
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Notss to the Financial Statements- eoMÉinved FOR THE YEAR ENDED 31 DECEMBER 2024 INCOME FROM CHARITABLE ACTIVITIES 31.12.24 31.12.23 Activity Church activities Church acliviti&s Church aclivities Abbey service fees St Andrew's hire charge Olhei. in¢ome 11,776 18,153 3,626 14.442 16,345 3,203 33,555 33,990 RAISING FUNDS Raising donations and legacies 31.12.24 31.12.23 Staff costs Ministry Sha Ministy expenses Worship expeiises Youth work and mission Office aiid adminislr8tion Food bank expenditure Music and oiynisl Depreciation 49.024 60,000 2,154 2,542 6,433 12,679 313,629 3222 8,484 34,048 95,000 1,788 1,948 4,267 10.810 47,783 3,700 8,869 183,167 208,213 Other trading a¢¢lvltles 31.12.24 31.12.23 Organ ¢xpenditure Heat and light Insuran¢¢ Maintenance and fvrniture Cleaning 1ffj49 24,720 8,550 57,862 8,502 402,656 33,399 8,236 57,755 7,417 101,283 509,463 Investment management costs 31.12.24 31.12.23 Bookstall Magaziiie Plum Festival expenses Abbey hii'e costs Ollier fuiid raising costs Organ Festival expenses 6J48 3,279 4,397 793 3,423 754 2.878 707 2.001 2,074 1 $667 15,524 Page 17 continued...
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2024 RAISING FUiYDS- continued Aggt'egate amounts 300,117 733,200 CHARITABLE ACTIVITIES cosrs Support costs (see note 8) Chuirh activities 2,100 SUPPORT COSTS Goveinance cosis Church activities 2,100 INDEPENDENT EXAMINERS- GOVERNANCE COSTS The lildei]dent exaininers remuneration for 2024 was £2,100 (2023-£2,825) inclusive of VA T. Additional costs of £725 IE the review of 2022 wer¢ incun-ed Tn 2023. io. TRUSTEES, REMUNEIL4TION AND BENEFITS The ti'ustees all give freely their time and expertise without aiiy fonn of MUneral10n or othei, b¢i)efil iii cash or kind (2023: £nil). During the year Ihe reimbursement of travel and other expenses incurred by virtue of their position, lotalling £2,022, werL' paid to 2 Tn15t¢es (2023 - £1,653 to 2 Tiustc¢s). A nuii)ber of the Twslees made donalioi)S lo Ihe PCC both as unrestricted donalioiis and itstri¢led doiiations. Tl)ese donations were immalerial and did n(* have impact oil the operation of the PCC and therefore are not disclosabSe on an individiial basis. STAFF COSTS 2024 2023 CJn)s.% Salai'ies Pei)sioii Contributions 54,750 933 42,561 367 Total staff ¢osts 55,683 42,928 The Dir¢clor of Music joined in April. There were no employee benefits to key inanag¢ment peN)nnel in the current or previous years, Th¢ av¢i'age monthly iiumber of employees during the year was as follows: 31.12.24 31.12.23 Part linie staff Page 18 continued.,.
THE PAROCHIAL CHURCH COUNCIL OF THE I CCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Notes to the Financial Stalements - continued FOR THE YEAR ENDED 31 DECEMBER 2024 ii. STAFF COSTS- contlnued No employees received emoluments in excess of £60,000. 12. COMPARATIVES FOR THE ST ATEMENT OF VINANCtAL ACTIVITIES Unresh"icted Restricted fijnds funds Endowmeiit funds Toial funds INCOME AND ENDOWMENTS FROM Donations and legaLiLs 139,181 419,854 559,035 Chureli aetivitles Church activiti¢s 33.090 900 33,990 Other trading activities Investsn¢nt income 43,548 43,548 7,947 7,766 Total 216,OCH) 428,520 644,520 EXPENDITURE ON Raising funds 213,852 519,348 733,200 Chiritable #etlvities Chui'ch activities 2,825 2,825 Total 216,677 519,348 736,025 Net gains oil iiivestments 10,037 22,557 32,594 NET INCOME/{EXPENDITURE) (677) (80,791) 22,557 (58,911) RECONCILIATION OF FUNDS Total funds bmught forwai'd 31,672 206,434 259,693 497,799 TOTAL FUNDS CARRIED FORWARD 30.995 125.643 282,250 438,888 Page 19 continued...
THE PAROCHJAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Notes to tlie Finaneial Slatements- continued FOR THE YEAR ENDED 31 DECEMBER 2024 13. TANGIBLE FIXED ASSETS Plant and machinery COST At l January 2024 and 31 December 2024 44,615 DEPREI CIATION At l January 2024 Clrge for year 26,208 8,484 At 31 December 2024 34,692 NET BOOK VALUE At 31 December 2024 9,923 At 31 Decemb¢r 2023 18,407 14. FIXED ASSET INVESTMENTS Listed investments COST LESS IMPAIRMENT At l January 2024 Disposals Revaluations 372,159 (53,871) 9017 At 31 December 2024 328,105 NCIT BOOK VALUE Al 31 D¢¢ember2024 328,10S At 31 December 2023 372,159 Thei'e weiE no investment assets outside the UK. Cost or valuation at 31 De¢ember 2024 is represented by. Listed Imvestments Valuation in 2022 Valuation in 2023 Valuation in 2024 Cost {42,710) 32,594 9,817 328,404 328,105 Page 20 coi)tinued...
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Notes to the fiinancial Slatemenls- eontinued FOR THE YEAR ENDED 31 DECEMBER 2024 14. FIXED ASSET INVESTMENTS- continued CBF Investment fund unils. 10,103 unils (2023 . 12.569 units) CBF Irivestinent fuiid units, 1.505.67 units 233,607 94,498 282.250 89,909 328,105 372,159 There was an incirase in the valuation as at the year end of Ihe inveshnents hcld of £9,817 (2023: increase valualion of £32,596). The total number of CBF invesiment fund units held as at Ihe year end was 11,608.67 unils (2023.. 14,074.67 units). Dui-ing the year, five endowinenl funds lotalling 2,466 units were sold under the provision5 of the Chai'ities Act 2022, which allows endowment funds with a v81ue less than £25,(K)O to be sold. The proceeds of £57,636 are held in a dedicated savings account. The fLinds remain restricted and can oiily be used for ihe puipose foi. wliich the endowment was made. in Of ilie total investment assets, £233,607 is held under the endowment fund (2023: £282,250), £94,498 is held undei. the restricted tund (2022: £89,909). STOCKS 31.12,24 31.12.23 Stock- food bank 2,262 2262 i& DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 OIEan Other debtors Prepayments 12,120 3,609 3,736 9,393 2,377 2,487 19,465 14.257 Page21 continued...
THE PAROCHIAL CHURCH COUNCIL OF THE I CCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLV CROSS PERSHORE Notes to the Financial Statements- eontinued FOR THE YEAR EIYDED 31 DECEMBER 2024 17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Othei. creditoiB Accrued expenses (1,653) 3204 (689) 4.313 1,551 3,624 18. LEASING AGREEMENTS Minimum lease payments under non-cancellable opernting leases fall due as follows.. 31.12.24 31.12.23 Between on¢ and five yea 1.018 Page 22 coiitinu¢d...
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ABBEY CHURCH ofi THE HOLY CROSS PERSHORE Notes to the Finaneial Stalements - continued FOR THE YEAR ENDED 31 DECEMBER 2024 19, MOVEMENT IN FUNDS Net movement in fiinds Transfers between funds At 31.12.24 At 1.1.24 Uni'estYi¢ted funds General nd St Andrew$ 17,686 13J09 29,119 (12,811) 46,805 498 30,995 16J08 47,303 Restricted funds Food Bank- General Restricted Organ fui)d Abbey Support Fund Development Froiitispieces West End Clock FU]llure 01.8an Maintenance Oi'gan Replacement AblK'y Maintenance Fabi-ic Fund - Sl Andrews St Anthrws St Andiews Support Fund Ernbi'oidery Guild 29,032 8,577 37,609 17,239 21,366 43,773 908 73 3,302 35,175 17,239 21,366 41,572 977 78 3,553 34,849 10,604 (17,762) &223 75 I677 2,201 (69) {5) (251) 326 (1,075) (940) (4,056) (75) 2,400 (18,702) 4,167 J3,077 13,036 3,779 13,036 3.765 14 125,643 7,047 51,641 184,331 Endowment funds Po. Fund Furnituie Restoration Fuiid Organ Fund Fabi'ic Fund (Abbey) Wi"idgway Trust Fund Structui'e R¢paii' Fund Di'akes Broughton Allottnents Fabric Fund (St Andrews) Hanson Fund 3JJ7 95,394 11583 6,589 53,755 14,509 42,633 12,873 3A597 (3,317) 2,183 656 268 1230 97,577 (17,239) (6,857) 54,985 (14,509) 976 43,609 (13,036) 37,435 282350 2,997 (51,641) 233,606 TOTAL FUNDS 43&888 20,352 465,240 Page 23 continued...
THE PAROCHIAL CHURCH COUNCIL OF THE CCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Notes to the Financial Statements- eontinued FOR THE YEAR ENDED 31 DECEMBER 2024 19. MOVEMENT IN FUNDS- eontinued Net movement in funds, included in the abov¢ are as follows: Incoming resources ReSourS expended Gains and losses Movement in funds UTrre$tricted funds General fund St Anthews 223.521 J46 (194,402) (12,957) 29,119 (12,811) 223,067 (207J59) 1fi308 Restrlcted funds Food Bank - General Restricted Developnlent Froiitispieces West End Clock Furnilure Organ Maintenance Organ Replacemeiit Abbey Maiiiteiiance Fabi'ic Fund - si Andrews Sl Andrews Embroidery Guikl 47,206 (38,629) 8,577 2201 (69) (s) (251) 326 (1,075) (940) (4,056) (75) 2,400 14 2,201 46 (115) (9) (417) (4,090) (2,893) 166 1,768 479 (9411) 21)9 2,648 lJ39 3A432 (40,697) (75) (4,599) 6J42 14 657 93,981 (91,524) 4,590 7,047 Endowment funds Poor Fund Furniture Restoration Fund Oi'gan Fuiid Fabric Fund {Abbey) Wi'idgway Trust Fund Drakes Brougjton Allotments Fabi'ic Fund (St Andr¢ws) Hanson Fund 17 (3J34) (3,317) 2,183 656 268 1230 976 163 838 2,183 656 1230 976 163 838 (3,334) 5227 2,997 TOTAL FUNDS 318,752 (302,217) 9,817 26,352 Page 24 continued...
THC PAROCHIAL CHURCH COUNCIL OF THK ECCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Notes lo the Fiilancial StatemeD¢s- eontlnued FOR THE YEAR EI NDED 31 DECEMBER 2024 19. MOVEMENT IN FUNDS- Continued Comparatives for movement ii) fund5 Net movement in funds At 31.12.23 At 1.1.23 Unrestricted funds General fund St Andrews 8,039 23,633 9,647 (10,324) 17,686 13.309 31.672 (677) 30,995 Restricted funds Food Bank- General Restricted Developinent Frontispieces West End Clock Furniture Org7aii Mainlcnance Orgaii Replac¢niLnt Poor Fund Abbey Maintenance Fabric Fund - St Andrews St Andrews Embroideiy Giiild 37,902 43.386 900 72 J,273 29.697 9,334 47,059 461 20,635 (8,870) (1.814) 77 29,032 41,572 977 78 3.553 34,849 10,604 (17,762) 5,152 1,270 (64,821) (461) (12,412) 75 843 (116) 8,223 75 10,677 3,765 9,834 3,881 206,434 (80,791) 125,643 Endowment funds Pool. Fund Furiiiture Restoration Fund Organ Fuiid Fabric Fund (Abbey) Wi'idgway Ti'ust Fund Structui'e Repair Fund Di'akes Bi-ougFLton Allotments Fabi'ic Fund (St Andrews) Hanson Fund 3,141 87,191 15,703 6,240 49,133 13,678 38,967 12,190 33,450 176 8,203 880 349 4,622 831 3,666 683 3,147 3,317 95,394 16,583 6,589 53,755 14,509 42.633 12,873 36,597 259,693 22,557 282.250 TOTAL FUNDS 497,799 (58,911) 438,888 Page 25 continued...
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Notes to the Finaneial Statements - continued FOR THE YEAR ENDED31 DECEMBER 2024 19. MOVEMENT IN FUNDS- conlinued Cotnpai'ativ¢ net movement in funds, included in ihe above are as follows: Incoming resoui Resources expended Gains and losses Movement in funds Unrestricted funds General fund St Andrews 210.436 5,564 (200,789) (15,888) 9,647 (10,324) 216,000 (216.677) (677) Restricted funds Food Bank - General Restricted Developrnent Frontispieces West End Clock Flimiluir Organ Maintenance Organ Replacement Pool. Trund Abbey Maintenaiice Fabric Fund - St Andrews St Andi'ews Embroidery Guild Wi'idgway TiusÈ Repair Fund- St Andi'ews 38.913 (47.783) (5,532) (8,870) (1.814) 77 3,718 77 280 2,545 800 280 5,152 1,270 (64,821) (461) {12,412) 75 843 (116) 2,607 470 337,835 95 35,751 11.380 (402.656) (556) (49,931) (11.305) 1,768 843 (116) 1,469 (1,469) 428,520 (519,348) 10,037 (80,791) Endowmenl thnd$ Pool. Fund Furniluie Reslornlioii Fund Oi'gan Fund Fabric Fund (Abbey) Wi'idgway Trust Fuiid st1Cture Repair Fuiid t)rakes Bi'oughton Allotments Fabric Fuiid (St Andrews) Hanson Fund 176 8,203 880 349 4,622 831 3,666 683 3.147 176 880 349 4,622 831 3,666 683 3,147 21557 22,557 TOTAL FUNDS 644,520 (736,025) 32.594 (58,911) ENDOWMENT FUNDS Poor Fund Tl)e poor pennanent endowment fund is fiM a trust deed dated l Noven)ber 1958 from the Lawsoii T)St. Tlie income can only be used by tlie vicar to help the poor inembers of the Cliurch of England in the Pai'ish of peh01.¢. Fui'nitiii'e Restoration Fund Page 26 conlinued...
THE PAROCHIAL CHURCH COUNCIL OF THE [1 CCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Notes to the Financial Statemeiits - continued FOR THE YEAR ENDED 31 DECEMBER 2024 19. MOVEMENT IN FUNDS- eontinued The Furniture R¢storation Fund is a pennanent endowment firn Miss MAC Woodwaixl under tnjst deed dated I November 1958. The Éncome arising from the fund is restricted to the restordlion or renewal of the fuiniture ot Pershoi'e Abb¢y. Orgaii Fund The otEaii permanenl endowment was received under the legacies of Misses MA and LE Woodwattt and then undei. the deed dated l May 1959. It fornis pait of the Pershore Abbey Organ Fund and the income fiDm this fiind can only be used for ihal purpose. Fabrle Fund {Abbey) The expendable endowment of the Fabric Fund (Abbey) is under a deed daled l May 1959. The income of the fund can be used for fabri¢ maint¢ntu)ce at the Abbey, Wrldgway Trust Fund The Wridgway Trust Fund is a peiinanent endowmenl under the deed dated l November 1958. The income from this fund is shared eveiily between funding general expenses of the Holy Cross and repairs of Holy Cross but if not SO Used for the repaii's to St Andrew's Church. Struelure Repair Fund The structure repair fviid is a permanent endowmeni fiDm the Alfied Hudson Tiwst under the deed dated I Novembei. 1958. The income 15 restricted for lh¢ use of structural repair lo ihe Abbey. Dralies Brougliton Allotments The Drakes BioughloI) Allotments fund is a pemianent endowinent fund under the trnst deed dated l November 1958. Tlie income from this fund is use foi. the maintenance and iepairs and general puiposes of the Abbey. FRbric Fund (St Andrews) This permanent endowmenl represents lh¢ charity of Miss MAC Woodward uiider the trust deed dated Nov¢ii)bei' 1958. Th¢ income is restricted for the use of maintenance and fabric of St AndtEws. Hanson Fund Th¢ Hanson Trust is a permaiienl endowment for which the income is used for the stTUCtural repairs at the Abbey. RESTRICTED FUNDS Food Bank Food Baiik in Per5hore As operated under ¢he guidance of The Tnwsell Twsl, the purpose of which, 15 to slop Ulc hunger. The PCC are trustees of the Pershore Food Bank. All food bank income and expendilur¢, including fundiiig for Cilizens Advice sessions and local authority emergency assistance grants is restricted foi. the purpose of the food bank. Development Th¢ Abbey Developinent Fund FS restricted to the development and resloralion of the fabric of tlie buildinL, its ornaments, furnlshings aiid fiiments. Frontispieees Fund Yestricted for Ihe use of the fiDntispiece'5 maintenance and repair al the Abbey. West End The Wesl End restrÉcied fund is used for ihe rnaintenance and repair of the West End of the Abbey, Clock This restricted fund is for the repair of the Abbey ck)ck. Furnlture Page 27 ontinued,..
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Notes to the Financial Statements- Continued FOR THE YEAR ENDED 31 DECEMBER 2024 19. MOVEMENT IN FUNDS- conlinued Resh'icted funds for tl)¢ purcl)ase and repai of fumiture of the Abbey. Floodlighting The restricted floodlighting fvnd is for the purpose of mainlaining and suslaining the floodlighting at the Abbey. Orydan Maintenance The Organ Maintenanc¢ fund is used for regular servicing and repairs to the Abbey organ. Organ Replfveement The organ replacement fund is for the purposes of fundraising aiid liolding funds to purchase a new organ for the Abbey. Pooy Fund This itprescnts the income arising from Ihe en(lowed PLK)r fund which is spent at Ihe discretion of the Vicar. Abbey Maintenanee Resti'icted funds for the maintenance of the Abbey. iabrlc Fund-.St Andrews A fund lo suppo11 the fabric at St Andrews. St Andreivs Related to incoine restricted for the purpo of St Andrews includes grants of £8,753 (2021: £20,236) from St Andrew's Trnstees). Wridgway Trust Repair Fund - St Andrews In accoi'dance with the deed. the PCC l)as decided that the incCe froin the Wridgway Trust sl)ould be allocated to St Andrews and spent on repairs in St Andrew's Chu. Cornmunity First Grant This grant was first received in 2021 foi. the purpos¢ lo relaunch concerts iii the Abbey following 11)e unpact of the paiid¢mi¢. Tlie brought forward balance of £750 was spent in 2022. Designated Fuiids Purposej Unreslrlcted Funds Transfers Tliere were no transfers between restrlcted and unrestricted ndS during th¢ year. DeslgnAled funds purposes and unrestricted funds Iransfers Ther¢ were no transfern of unr¢stricled funds during 2022. 20. REI LATED PARTY DISCLOSURES During tlie year the following related party transaction occuTred: Pershore 14'odiice (Fruit & Vegetables) Limtted is a company under significant contsDI of Mr S J Clarke who is the husband of Mi3 S Clarke. a INslee of the charity- Payinenls for the year totalled £381 (2023.- £202). St Andrew's Parish Centre Trnsl, wliich is a separate registered charity, under ch'Ity nuinber 501353, is a related paity by virtue of common Tiustces between the two charitles. The following IrdnsaCti ti)ok place during tlie year: Restricted grants IEceived from St Andrew's Parish Centre Trust during the year £530 (2023: £8,704). Tlie Friends of Pershor¢ Abbey CIO {FoPA), which FS a separate registered charity, uiidei. chai'ity numbei. 1193273, is a related party by virtue of conimon Trustees between the two cliarities. The following transactions took place dui'ing the year: Page28 continued...
THE PARoCHL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Notes to the Fiiianelal Statements- eontinued FOR THE YEAR ENDED 31 DECEMBER 2024 20. REI LATED PARTY DISCLOSURES- eontinued - Restricted grants received from FOPA during Ihe year (excluding t])e organ)- £30,151 (2022: £32,092) Restricted grants received from FOPA during the year for the organ - £l.339 (2023: £293.875) - Debtor due from FOPA at the Y-end - geneExI restricted grants - £Nil (2023: £Nil) The Trustees of ihe PCC are extremely grateful foT the financial support received from both St Andrew's CenttE Tiust and Friends of P¢rshore Ablw. Page 29
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Detailed Statement of Financlal Activities FOR THE YEAR ENDED 31 DECEMBER 2024 31.12.24 Total fuiids 31.12.23 Total funds Unrestricted funds Restricied funds Endowment funds INCOME AND ENDOWMENTS Donations and legAeies Stewai'dship giiving Collections (at all services) Tax I'ecovery Legacies Grants Doi)ations and appeals Food bank donations St Andrews donations 7&118 20,703 17,587 1,000 13,950 17,277 75,118 20,703 17,587 1,000 54J71 17,721 47,207 146 74,108 18.895 12,921 1,000 392,504 16,965 38,912 3,730 40,421 47,2(YT 146 145,781 87,628 444 233,853 559,035 Other tradlng activities Abbey liiit charges Bookstall income Magazine incoine Pluni Fcslival income Carnival Oi'Lan Festival 15854 IOJ69 7J15 9,921 15,854 10,369 7,313 9,921 872 12,277 6,636 6,675 9,371 726 7,863 44a31 44a31 43,548 liivestjnent in¢ome Dividends St Aiidr¢ws' dividends Bank interest 4047 1,492 14 4,847 1,492 674 5,933 1,833 181 660 6J53 660 7,013 7,947 Church Activities Abbey sei'vice fees St Andrew's Iiire chai'ge Othei. inroine 11,776 18,153 3,626 11,776 18,153 3,626 14,442 16.345 3,203 33,555 33,555 33,990 Total illtoining resources 223,667 93,981 1,104 318,752 644,520 I XPENDITURE RAFslng donatloiis and legaeics Wages CaiTied fonvard 48,468 48,468 48,468 48,468 34,048 34,048 This page does not form part of the statutory financlal stateinents Page 30
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLII SIASTICAL PARISH OF THE ABBEY CHURCH OF THE HOLY CROSS PERSHORE Detailed Statement of Financial Aetlvities FOR THE YEAR ENDED 31 DECEMBER 2024 31.12.24 Total funds 31.12.23 Total funds Unrestricted fund5 Restricted funds Endowment nds Ralsing donatlons and legacies B1'oU1t foi'ward Pensions Ministry Share Ministty expenses Worship expenses Youtli work and mission offi and admini5ti'ation Food bank expenditure Music and oi'ganist Depreciation of t4tn¥ible fJx¢d assets 48,468 5S6 60,000 1154 2,542 3,099 12,679 48,468 556 60,000 2,154 2,542 6,433 12,679 38,629 3,222 34,048 95,000 1,788 1,948 4,267 10.810 47.783 3,700 3J34 38,629 3222 &484 8,484 8,869 141,204 3&629 3J34 183,167 208,213 Otlier ti'ading activitles Oi'gan expeiidituir Heat and light Insui'artce Maititenance and furniture Cleaning 1,649 1,649 24,720 &550 57,862 8,502 402.056 33,399 8,236 57,755 7,417 24,720 8,550 42,696 15,166 8,502 48,388 52,895 101,283 509,463 Investment managemenl costs Bookstall maga7.ine Pluni Festival expenses Abbey Iiire costs oilier fund raising costs Oi'gan Festival exp¢nses 6J48 4,537 707 2.001 2,074 6J48 4,537 707 2,001 1074 3279 4,397 793 3,423 754 2,878 15,067 1S667 15,524 Siipport costs Governanee eosls Independeiit examiiier 2,100 2,100 2,823 Total resources expended 207J59 91,524 3J34 302,217 736,025 Net ineomel(expendilure) 16J08 2A57 (2,230) 11535 (91,505) Tl)is page does not form part of ihe statutory financial statemenls Page31