2022-12-31-accounts

The Diocese of St Edmundsbury and Ipswich

Annual Report

and

Financial Statements

of the

Parochial Church Council

of

St Edmund, King & Martyr Southwold Suffolk

Charity Number 1133770

For the year ended 31 December 2022 Prepared under the Accruals Accounting Basis

GENERAL INFORMATION

Church St. Edmund’s Church Address Southwold, Suffolk Incumbent Name Vacant Address The Vicarage, Gardner Road Southwold, Suffolk. IP18 6HJ Bankers Name: Barclays Bank plc Address Waveney Valley Group 12 Broad Street Bungay, Suffolk Post Code NR35 1EW Examiners Name Ensors Accountants LLP Address; Blyth House Saxmundham Suffolk Post Code IP17 1WA

Church Return by Type

Electoral Roll – Resident 71 Electoral Roll – Non Resident 40 Average Weekly Adult Attendance 98 Average Weekly Young Persons Attendance 7

Registered with the Charity Commission :

The Parochial Church Council of the Ecclesiastical Parish of St. Edmund’s, Southwold. Registration No. 1133770.

AIMS AND OBJECTIVES

The Parochial Church Council has the responsibility of co-operating with the Ministers and Members of the Sole Bay Team in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical (PCC (Powers) Measure 1956 Section 2).

Our Team Mission Statement is:

“Let love be genuine” taken from Romans 12v9.

MEMBERSHIP OF THE PAROCHIAL CHURCH COUNCIL

Members of the PCC are either ex-officio or elected by the Annual Parochial Church Meeting (APCM) for a period of three years in accordance with the Church Representation Rules.

Name Term of Office Ends/Ended Incumbent Revd. Simon Pitcher 25 February 2023 Churchwardens Jonathan Sutton April 2023 Deanery Synod Jenny Whines Representatives John Cooper Elected Members Fred Butter April 2024 (resigned 2022) John Cooper April 2024 Jill Horne (Treasurer April 2024 (co-opted 2022) Ian Johnson (Fabric Officer) April 2024 Carolyn Kerr April 2024 Halcyon Meldrum April 2024 (co-opted 2022) Robert Temple April 2023 Susan Thomas April 2024 Daisy Williamson April 2024

Ex Officio Members Joan Goldsmith (Verger)

Hugh Williamson (Secretary) resigned as Secretary 2022

Standing Committee

This is the only committee required by law. It has the power to transact business of the PCC between its meetings, subject to any directions given by the Council. Membership: PCC Chair, Churchwardens, PCC Secretary and Treasurer. In the absence of a second warden it has been the recent custom in include the Fabric Officer.

Other Appointments

PCC Members of the Trustees Revd Alan Perry of the CIO, (renewable annually) Vic Reddington Electoral Roll Officer Joan Goldsmith Team Council Jenny Whines Joan Goldsmith Data Compliance Officer Hugh Williamson Parish Safeguarding Officer Carolyn Kerr Health & Safety Officer Vacant Representative to Christians Together Joan Goldsmith Church Liaison Officer Sarah Wallington Smith

St Edmund Southwold

Annual Parochial church Meeting

Review of the Year 2022

Aims and Purposes

The Parochial Church Council (PCC) of St Edmunds Southwold has the responsibility of cooperating with the Team Rector and Team Vicar in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical.

Objectives and Activities

The PCC is committed to enabling as many people as possible to share in worship and parish life at St Edmund’s. Our services and worship try to put faith into practice through prayer, sacrament, scripture and music.

In line with the Charity Commission’s guidance on public benefit, and in particular the supplementary guidance on charities for the advancement of religion, we try to help people to live their faith through;

• Worship and prayer; learning about the Gospel and developing their knowledge and faith in Jesus Christ.

• Provision of pastoral care for people living in the parish

• Missionary and outreach work, including engagement with Southwold Town council, local schools, and the many visitors who come to Southwold each year.

St Edmund’s is a parish within the benefice of the Sole Bay team, one of 8 that share two stipendiary priests. We therefore work in partnership with the other parishes in the benefice in pursuit of these objectives.

Our magnificent Grade 1 listed church building plays a vital part in our ministry, being acknowledged as an exceptional holy space. The PCC is responsible for the maintenance of its fabric, recognising both its historic significance and the need to ensure its continued relevance to contemporary needs.

We take safeguarding seriously. The PCC has adopted the Church of England’s national policy “Promoting a Safer church.” There were no safeguarding incidents to report in 2022.

Achievements and Performance

In 2022 we were able to return to our normal service pattern and gradually our service numbers have returned to normal, and in some instances have increased. This particularly refers to the Family Service where we have welcomed new families and there is now a well-established worship band covering a wide age range of enthusiastic musicians.

During the year we celebrated the usual festivals. At Easter, following the well attended ecumenical service, there was the Walk of Witness to South Green for a short service after which we retired to

the United Reformed Church Room for coffee and hot cross buns. Prior to this there had been weekly Lent study groups and the Lent Lunches.

In May a special service was held to celebrate the late Queen’s Platinum Jubilee, which was very well attended.

We again enjoyed a very sociable Harvest Lunch in the church, which embraced the whole church family, followed by the Blessing of the Nets service, to which we invite local fishermen, members of the local Lifeboat service and the Coastguard.

Remembrance Sunday was attended by the Mayor and Southwold Town Councillors together with representatives of the many local groups and organisations in the town. At Christmas we hosted carol services for the Southwold Primary School and St. Felix School as well as the Carol Service for the town. Victor Scott and the choir work very hard to provide beautiful and moving songs and anthems for these services and we give thanks for their dedicated time and hard work.

The Christingle service was held on Christmas Eve and was the usual smash hit. We shall miss Rev. Simon’s conducting with great gusto “The Twelve Days of Christmas” which has become a firm favourite at the end of this service.

The Thursday morning service of Holy Communion continues to be well attended. This is followed by coffee/tea and biscuits which is greatly enjoyed. Thanks must be given to the ‘regulars’ who prepare this and provide a great variety of biscuits and sometimes savoury scones. Refreshments are also served regularly at the end of Family Service. Our thanks go to Jay Williamson for organising these; the children attending Sunday School certainly enjoy the plate of scones and jam she provides for them to take to the Porch room. Thanks must also go to Halcyon Meldrum and her team of helpers at the Sunday School sessions.

We continue to have close links with Southwold Primary School. Volunteers present ‘Open the Book’ and Revd Simon visited monthly to take school assemblies. The School had a guided tour of the church in February and have had their special services at Easter, Harvest and, of course, ‘Sticky Bun’ day (St. Edmund’s Day) plus a carol service.

Sarah Wallington Smith regularly takes Communion to the residents at St. Barnabas Care Home and we still have Lay Elders who visit the housebound and sometimes take Communion to them as and when required,

We average 14 services a month and during 2022 we had 9 weddings, 1 wedding blessing, 6 funerals, 6 memorial services, and 4 baptisms.

The PCC met 6 times during the course of the year. There has been considerable discussion in regard to roof and porch repairs, which is ongoing. On approval of the installation of a new sound system, it was agreed to approach all on the church electoral roll to assist with the funding of this project, in addition to making grant applications. Approximately £6,000 was received from church members, the balance being mainly covered by grants from the John Gilpin Trust and Southwold Trust.

Sadly the Scripture Union Beach Mission is no longer. The young people eagerly looked forward to the first 2 weeks in August when the SUBM provided much activity. Amanda Hirst, with the assistance of Halcyon Meldrum, ran two sessions of activities for children in the church during August.

In October the PCC had an Away Day to think about the future direction for the St. Edmund’s church family. We looked at our Strengths, Weaknesses and Opportunities and produced a “Growing in God” plan in line with the Diocese plan under the headings of Growing Younger, Growing in Number, Growing in Depth and Growing in Influence and the PCC will continually look at this to implement suggestions and ideas.

Mr. Andrew Wallington-Smith has undertaken a comprehensive audit of the churchyard and a full alphabetical list of all graves is now available and there are plans to put this onto the website. This has involved a huge amount of work and the PCC expressed their sincere thanks to Andrew for all of his work.

A defibrillator is now available in the church.

The PCC is mindful of its responsibilities in regard to Safeguarding and members of the church have undertaken training sessions in order to comply with the House of Bishops guidance. This is ongoing and we thank Carolyn Kerr for taking on this huge responsibility in keeping us up-to-date and in compliance.

St. Edmund’s continues to draw many visitors throughout the year and thanks must be given to all of those who work hard to keep the church in good order, including the cleaners, dusters and polishers, flower arrangers and welcomers. There are many others to thank for the life of St Edmund’s – the choir, our organists and piano players, the bell ringers, those who volunteer to read the lessons and prepare prayers, sidespeople and the many, many others who work tirelessly in the background to ensure that everything runs smoothly.

Financial Review 2022

Unrestricted Funds (General Fund)

Principal Sources of Funds.

The principal sources of unrestricted funds in 2022 were, in order of magnitude

1. Dividends from investments in CCLA securities. (CCLA are our investment management consultants and specialists in investing for churches, charities and local authorities)

2. Direct debit donations, with optional Gift Aid and inflation linking, via the Parish Giving Scheme

3. Covenanted Giving by parishioners

4. Bookstall sales

5. Tax recovered on gift-aided donations

6. Service collection plates

7. The Gift Chest at the entrance to church

8. Contactless card donations via the Goodbox, GWD Skinny & QR code

9. Fees for weddings and funerals

10. Regular giving in envelopes

Total unrestricted income was £135,786 compared with last year’s total figure of £106,824. Dividend income from our investments has remained a constant and stable part of the unrestricted income total. The gift chest donations have increased by £2,823. Loose plate and gift aid church collections have also increased by £3,554. The GoodBox, GWD Skinny and QR code continue to provide a method of contactless giving and its contribution has increased by £2,460. It is gratifying that the number of those signed up to Parish Giving Scheme has increased again this year. We have also received a number of one-off donations. Grateful thanks must also be offered to all those who have supported our church regularly throughout the year.

Total unrestricted expenditure was £105,250 compared with £97,154 in 2021. These increases are largely due to increased spending for the bookstall, an increase in our team expenses and increased giving. Our payments for electricity more than doubled in 2022. With prudent use of the gas heating the cost has increased by a third. I am very grateful to those who are saving energy in the church by turning off lights and refraining from using the heating – thank you.

The dividends and interest income received on unrestricted investments was £25,797 compared with £24,895 in 2021. Investment income continues to be a key part of the total income enabling our essential expenditure commitment to be met.

Funding Objectives,

The objectives of the General Fund are to meet the monthly running costs of the church, to fulfil our obligation to the diocese by making our full contribution to the Parish Share, to meet our commitment to the community by our Christian ministry and, where possible, by contributing to local and overseas charitable work.

Payment of our Parish Share represented 44% of our total unrestricted income in 2022. The Parish Share for 2023 has been increased slightly and stands at £61,989.

Donations to charities have been made as follows:

£2,000 - Christians Against Poverty

£500 - World Vision for Ukraine

£90 - Mission to Seafarers following the Blessing of the Nets service and a further £97 from donations on Sea Sunday

£240 - Lowestoft Food Bank at Easter and a further £139 following our harvest festival £810.90 - The Royal British Legion Poppy Appeal

£405 – ACCESS Community Trust following our sleepover in church plus a further £260 in April

£477 - The Children’s Society from the collection taken at our Christingle service. However, this will not appear in the 2022 accounts as it was banked in 2023.

We aim to reserve in liquid funds a minimum of three months fees for each of our selfemployed workers and sufficient to cover anticipated utilities charges for the half year. Each quarter we also aim to reserve a proportionate amount of our Diocesan Parish Share. The budget set for the bookstall has been increased for 2023. The setting of this budget continues to manage cash flow and it is hoped that in time it will help control stock levels.

St Edmund’s Hall continues to be leased to the Sole Bay Arts Centre. £900 was paid to The Sole Bay Arts Centre under the lease as a contribution to heating and lighting for the times the hall is used for church activities. We are under pressure to support the hall in buying a new boiler but this is still to be decided.

Restricted Funds (Restoration and Fabric Fund)

Principal Sources of Funds: - Murray Legacy, Usher Legacy and Restoration and Fabric investment funds.

The Usher legacy is held in CCLA securities by the PCC and the whole of the capital and dividend income can be used for restoration and maintenance of the whole church building. The Murray Legacy is held in CCLA securities and both capital and income can be used for the improvement and maintenance of the fabric of the church. Further income arises from other funds invested in CCLA securities.

Income (dividends and interest) from investments in restricted funds was £27,938, up very slightly on last year.

£6,101 was donated for the new sound system project. This has been invested in the KLASP deposit account in order to accrue some interest. This figure includes the gift aid claimed on eligible donations and the interest accrued in the deposit account.

Funding Objectives

The funding objective of the Restoration Fund is to carry out necessary repairs and restoration as expeditiously as possible while retaining a suitable level of reserve to cover possible emergencies. There is an outstanding need for major works arising from the quinquennial inspection carried out in 2016.

The policy on the Restoration Fund is to aim to keep in reserve sufficient funding for routine maintenance and an emergency contingency of £50,000 on cash deposit.

INDEPENDENT EXAMINERS REPORT TO THE PAROCHIAL CHURCH COUNCIL OF ST EDMUND, KING AND MARTYR, SOUTHWOLD FOR THE YEAR ENDED 31 DECEMBER 2022

I report to the members on my examination of the accounts of the St Edmund, King and Martyr Southwold Parochial Church Council for the year ended 31 December 2022.

Responsibilities and basis of report

As members of the Parochial Church Council, you are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Parochial Church Council’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in any material respect:

• i. the accounting records were not kept in accordance with section 130 of the Act; or

• ii. the accounts did not accord with those records; or

• iii. the accounts did not comply with the applicable accounting requirements concerning the form and contents of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.

I have no concerns 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 reached.

Carl Page FCCA Ensors Accountants LLP

Member of the Institute of Chartered Accountants in England and Wales (ICAEW)

Blyth House Rendham Road Saxmundham Suffolk IP17 1WA

Dated: ……………………….

St Edmunds Southwold PCC - 1133770

Statement of Financial Activities

For the period from 01 January 2022 to 31 December 2022

	Unrestricted	Designated	Restricted	Endowment	Total	Prior year
	funds	funds	funds	funds	funds	total funds
Income and endowments from:
Donations and legacies	94,943	—	7,320	—	102,263	73,632
Income from charitable activities	4,892	—	—	—	4,892	6,605
Other trading activities	14,101	—	—	—	14,101	12,296
Investments	20,833	6,453	29,142	—	56,429	52,213
Other income	1,015	—	1,795	—	2,810	6,999
Total income	135,786	6,453	38,258	—	180,497	151,746
Expenditure on:
Raising funds	49	—	—	—	49	700
Expenditure on charitable activities	101,025	—	16,517	—	117,542	110,388
Other expenditure	4,175	—	286	—	4,462	5,497
Total expenditure	105,250	—	16,803	—	122,054	116,585
Net income / (expenditure) resources before transfer	30,535	6,453	21,454	—	58,443	35,160
Transfers
Gross transfers between funds - in	—	—	8,742	—	8,742	50,000
Gross transfers between funds - out	(2,898)	—	(5,843)	—	(8,742)	(50,000)
Other recognised gains / losses
Gains / losses on investment assets	(90,484)	(15,171)	(139,047)	(843)	(245,547)	255,089
Net movement in funds	(62,847)	(8,718)	(114,694)	(843)	(187,104)	290,249
Reconciliation of funds
Total funds brought forward	822,729	183,384	1,170,338	7,173	2,183,626	1,893,376
Total funds carried forward	759,882	174,665	1,055,644	6,329	1,996,522	2,183,626

There may be minor discrepancies in the totals if the pence are not being shown

16 March 2023 Page 1

St Edmunds Southwold PCC - 1133770

Balance sheet (Church of England) As at: 31 December 2022

	£ As at 31/12/2022	£ As at 31/12/2021
Fixed assets Investments Current assets Stocks and work in progress Debtors Cash at bank and in hand Liabilities Creditors: Amounts falling due in one year Provision for liabilities and charges due within one year Net current assets less current liabilities Total assets less current liabilities Total net assets less liabilities Represented by Unrestricted Unrestricted - General fund Designated Designated - Mullock Lady chapel Legacy Designated - Hall Fund Restricted Restricted - Missions Committee Fund Restricted - R&F Fund Restricted - Murray Legacy fund Restricted - Klasp Fund Restricted - Roof Repair Endowment Endowment - churchyard fund Endowment - Hurst legacy (churchyard) Funds of the church	1,741,029 1,741,029 5,751 2,220 249,941 257,913 944 1,476 255,492 1,996,522 1,996,522 759,882 174,665 — — 578,705 470,837 6,101 — 7,172 (842) 1,996,522	1,976,577 1,976,577 6,332 2,100 202,859 211,292 2,922 1,320 207,049 2,183,626 2,183,626 822,729 183,384 — — 662,595 507,530 212 — 7,172 0 2,183,626

There may be minor discrepancies in the totals if the pence are not being shown

16 March 2023

Page 1

St Edmunds Southwold PCC - 1133770

Analysis of income and expenditure

Selected period: 01 January 2022 to 31 December 2022

						Total
	Unrestricted	Designated	Restricted	Endowment	This year		Last year
Income and endowments
Donations and legacies
0101 - Gift Aid -Bank standing orders	13,867	—	—	—	13,867		13,842
0102 - Parish Giving Scheme	19,636	—	—	—	19,636		17,693
0103 - Parish Giving Scheme Gift Aid	4,909	—	—	—	4,909		4,423
0110 - Gift Aid Envelopes church	545	—	—	—	545		1,411
collections
0201 - Planned giving envelopes	1,513	—	—	—	1,513		2,136
(coloured)
0301 - Loose plate church collections	11,264	—	—	—	11,264		6,844
0407 - GWD Skinny Donations	90	—	—	—	90		—
0408 - Direct Credit from Sumup	91	—	—	—	91		14
0409 - GoodBox donations	6,003	—	—	—	6,003		3,710
0410 - Giving:- church gift chest (loose)	7,737	—	—	—	7,737		5,137
0411 - giving:- gift chest (gift aided)	676	—	—	—	676		453
0501 - One-off Gift Aid gifts	3,650	—	—	—	3,650		1,170
0550 - Donations appeals etc	5,003	—	5,245	—	10,248		9,338
0551 - Sound system donations (gift	1,765	—	2,050	—	3,815		—
aided)
0552 - Sound system donations	1,050	—	25	—	1,075		—
0553 - Hand Bell donation	3,050	—	—	—	3,050		—
0601 - Tax recovered on Gift Aid	8,090	—	—	—	8,090		6,455
0701 - Legacies	5,000	—	—	—	5,000		1,000
0703 - Choir legacy	1,000	—	—	—	1,000		—
Donations and legacies Totals	94,943	—	7,320	—	102,263		73,632
Income from charitable activities
1101 - Fees for weddings and funerals	4,892	—	—	—	4,892		6,605
Income from charitable activities	4,892	—	—	—	4,892		6,605
Totals
Other trading activities
1220 - Bookstall sales - fund raising	12,301	—	—	—	12,301		10,096
1241 - Church lettings	1,800	—	—	—	1,800		2,200
Other trading activities Totals	14,101	—	—	—	14,101		12,296
Investments
1001 - Dividends	20,104	5,692	27,938	—	53,735		52,133
1020 - CBF Bank interest retained in	729	760	1,203	—	2,693		79
acounts
Investments Totals	20,833	6,453	29,142	—	56,429		52,213
Other income
0905 - Church outings	1,015	—	—	—	1,015		—
1315 - VAT reclaims	—	—	1,795	—	1,795		6,999
Other income Totals	1,015	—	1,795	—	2,810		6,999

There may be minor discrepancies in the totals if the pence are not being shown

16 March 2023 Page 1

Income and endowments Grand totals	Unrestricted Designated Restricted Endowment Total This year Last year
	135,786 6,453 38,258 — 151,746 180,497
Expenditure Raising funds 1831 - Funds raised for Kagera Diocese — — — — — 700 2104 - Collection from Team Service 49 — — — 49 — 49 49 — — — 700 Raising funds Totals Expenditure on charitable activities 1830 - Giving - relief and development agencies 500 — — — 500 — 1850 - Giving - Home missions 2,091 — — — 2,091 920 1870 - Giving- Secular charities 1,449 — — — 1,449 413 1910 - Ministry parish share etc 59,737 — — — 59,737 59,425 2010 - Director of music 4,504 — — — 4,504 4,504 2011 - Assistant director of music 1,249 — — — 1,249 1,249 2013 - Choir 379 — — — 379 — 2015 - Hand bell expenditure 1,000 — — — 1,000 — 2101 - Working expenses of incumbent — — — — — 21 2103 - Team expenses 6,926 — — — 6,926 7,679 2145 - CCLI licence 123 — — — 123 117 2170 - Education 230 — — — 230 78 2201 - Parish training and mission 300 — — — 300 — 2301 - Church running - insurance — — 4,588 — 4,588 4,710 2315 - Cost of services for hall usage (Grandfa 900 — — — 900 950 2320 - Organ / piano tuning 1,222 — — — 1,222 1,850 2330 - Church maintenance — — 5,184 — 5,184 691 2331 - Cleaning 2,165 — — — 2,165 1,751 2360 - Administration — — — — — 250 2361 - Treasurers Office 140 — — — 140 488 2401 - Church running - electric 2,812 — — — 2,812 1,355 2410 - Church running - gas 3,840 — — — 3,840 2,394 2422 - Water and Drainage 112 — — — 112 70 2430 - Church running - Flowers 507 — — — 507 1,100 2510 - Bookstall costs 9,308 — — — 9,308 7,444 2601 - Governance costs examination/audit fee 1,524 — — — 1,524 1,320 2701 - Church major repairs - structure — — — — — 8,200 2702 - Architects fees — — 4,292 — 4,292 — 2705 - Health & Safety management fees — — 300 — 300 — 2706 - Church fire protection — — 73 — 73 69 2711 - Electrical maintenance — — 703 — 703 1,086 2715 - Church security — — 800 — 800 1,546 2718 - Boiler maintenance — — 573 — 573 701 117,542 101,025 — 16,517 — 110,388 Expenditure on charitable activities Totals
	117,542 101,025 — 16,517 — 110,388

There may be minor discrepancies in the totals if the pence are not being shown

16 March 2023 Page 2

						Total
	Unrestricted	Designated	Restricted	Endowment	This year		Last year
Other expenditure
2125 - Bank commission charges	110	—	95	—	206		169
2161 - Church outings	995	—	—	—	995		—
2302 - Miscellaneous resources	690	—	190	—	881		1,173
2303 - cost of refreshments for church	234	—	—	—	234		—
services
2304 - Communion wine etc	582	—	—	—	582		548
2311 - Internet expenditure	738	—	—	—	738		801
2362 - Printing	823	—	—	—	823		453
2723 - Sound System Project	—	—	—	—	—		2,351
Other expenditure Totals	4,175	—	286	—	4,462		5,497
Expenditure Grand totals	105,250	—	16,803	—	122,054		116,585

There may be minor discrepancies in the totals if the pence are not being shown

16 March 2023 Page 3

ST EDMUNDS SOUTHWOLD PCC

CHARITY NUMBER 1133770

NOTES TO THE FINANCIAL STATEMENTS For the year ending 31 December 2022

1 ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

In preparing the accounts, the Trustees of the PCC have considered whether in applying the policies required by FRS 102 and the Charities SORP 102 a restatement of comparative items was needed. No restatements were required.

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

The financial statements have been prepared under the historical cost convention except in the case of valuation of investments which are shown at market value.

The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members.

Going concern basis

The PCC Trustees have assessed that the charity is a going concern and that the accounts can be prepared on that basis. The Trustees have also given consideration to post balance sheet events and consider that the charity has significant investments and sufficient reserves so that it will be able to meet the planned expenditure and continue activities in accordance with the mission throughout the next twelve months.

Funds

Restricted funds represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and (b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of the year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund. Where there is no separate investment, interest is apportioned to individual funds on an average balance basis.

Unrestricted funds are general funds which can be used for PCC ordinary purposes and include designated funds that the PCC Trustees may decide to separately allocate until such time as needed.

Incoming resources

Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate is received. Grants and legacies are accounted for when the PCC has sufficient certainty that receipt of the income is probable and the amount can be reliably measured. Dividends are accounted for when receivable, interest is accrued when receivable. All incoming resources are accounted for gross.

Resources expended

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party. The Diocesan parish share is accounted for when due. Amounts received specifically for missions are dealt with as restricted funds. All expenditure is accounted for gross.

Fixed Assets

Consecrated and benefice property is not included in the accounts in accordance with s.10(2) of the Charities Act 2011.

Moveable church furnishings held by the Vicar and Churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the church's inventory, which can be inspected (at any reasonable time).

Investments are valued at market value at 31 December each year.

ST EDMUNDS SOUTHWOLD PCC

CHARITY NUMBER 1133770

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ending 31 December 2022

2 STAFF COSTS

2022 2021 £ £ Salary - Musical Director and Assistant Musical Director 5,753 5,753

During the year, the PCC employed a musical director and an assistant musical director, the average number of employees was 2 (2021: 2), none of whom earned £60,000 or more per annum.

3 TRANSACTIONS WITH RELATED PARTIES

3 TRANSACTIONS	WITH RELATED PARTIES		2022	2021
			£	£
Name	Relationship	Description
Mr N Williamson	Son of PCC Member	Assistant director of music	1,249	1,249

There were no other disclosable transactions in respect of PCC members, persons closely connected with them or other related parties.

4 TRUSTEE EXPENSES

No expenses were paid to trustees during the year apart from as reimbursement for PCC expenditure incurred personally.

5 INVESTMENTS

Market value as at 1 January 2022 Investment additions - at cost Unrealised gains/(losses) on investment assets during the year Market value as at 31 December 2022 The market value at 31 December 2022 represents investments for the following:- £ Unrestricted funds 674,431 Designated funds - Mullock legacy 114,133 Restricted funds - Restoration & Fabric 120,357 Restricted funds - Murray legacy 363,979 Restricted funds - Usher legacy 429,993 Restricted funds - Southwold Saints 31,815 Endowment Funds 6,322 1,741,030 6 DEBTORS AND PREPAYMENTS Gift aid claim Insurance (R & F Fund) Book stall costs - refund due	2022 £ 1,100 1,120 -	£ 1,976,577 10,000 (245,547)
		1,741,030
		2021 £ 1,059 840 201
	2,220	2,100

ST EDMUNDS SOUTHWOLD PCC

CHARITY NUMBER 1133770

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ending 31 December 2022

7 LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR

NTS FALLING DUE WITHIN ONE YEAR Independent examination fee Flower Festival Fund Church - electricity Church - gas Water and drainage Electrical maintenance (R & F Fund) Book stall costs Communion wine	2022 2021 £ £ 1,476 1,320 1,200 1,200 - 366 945 926 - 5 - 243 - 111 - 71
	3,621 4,242

8 CAPITAL COMMITMENTS

The PCC had not authorised any capital expenditure at 31 December 2022 (2021: £Nil).

9 FUNDS

Murray legacy, both income and capital is restricted to Restoration and Fabric purposes. During the year, dividend income and interest totalling £10,959 was received and there was an unrealised gain on investments of £51,620 as at the year end date.

Mullock legacy, both income and capital is designated, and during 2021, this produced dividend and interest totalling £5,605 and shows an unrealised gain on investments of £16,142 as at the year end date. At the beginning of the year, there was also a transfer of £40,000 from this designated fund back to the general fund in order to provide for further investment in the general fund investments (CBF Fixed Interest Securities) that had been invested towards the end of the previous year.

Usher legacy, both income and capital is restricted to Restoration and Fabric purposes. During the year, dividend income and interest totalling £11,968 was received and there was an unrealised gain on investments of £69,670 as at the year end date.

Southwold Saints legacy income is restricted to Restoration and Fabric purposes. During the year, dividend income of £915 was received and there was an unrealised gain on investments of £4,513 as at the year end date.

The investments of the Restoration and Fabric Fund, income of which is restricted to the restoration of the fabric of the church, produced dividend income and interest totalling £3,474 and there was an unrealised gain of £17,072 as at the year end date.

Restricted funds collected for missions and charities are discharged in the year.

The general fund investments, which are unrestricted, produced dividend income and interest totalling £19,290 and showed an unrealised gain of £95,173.

10 DONATIONS AND LEGACIES

Unrestricted legacies totalling £6,000 were bequeathed to the church during the year (2021: £1,000).

11 GRANTS

A charitable trust grant of £Nil was received during the year in the Restoration and Fabric fund (Restricted) (2021: £5,000)

ST EDMUNDS SOUTHWOLD PCC

CHARITY NUMBER 1133770

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ending 31 December 2022

12 ANALYSIS OF NET ASSETS BY FUND

Investments Current assets Debtors and stock Liabilities falling due in one year	Unrestricted Funds £ 674,431 81,230 7,131 (3,378)	Unrestricted Funds £ 674,431 81,230 7,131 (3,378)	Designated Funds £ 114,133 60,532 - -	Designated Funds £ 114,133 60,532 - -	Restricted Funds £ 946,144 109,373 840 (243)	Endowment Total Total Fund 2021 2021 £ £ £ 6,322 1,741,030 1,976,577 6 251,141 202,864 - 7,971 8,432 - (3,621) (4,242)	Endowment Total Total Fund 2021 2021 £ £ £ 6,322 1,741,030 1,976,577 6 251,141 202,864 - 7,971 8,432 - (3,621) (4,242)
		759,414		174,665 1,056,114			6,328 1,996,521 2,183,631

St Edmunds Southwold PCC - 1133770 Receipts and payments Selected period: 01 January 2022 to 31 December 2022

From 01 January 2022 01 January 2021 To 31 December 2022 31 December 2021

To
Note	1 December 2022 31 December 2021
Missions - Missions Committee Fund (Restricted) Fund Brought forward balance — — Total carried forward balance — — General - General fund (Unrestricted) Fund Income and endowments Donations and legacies Gift Aid -Bank standing orders 13,867 13,842 Parish Giving Scheme 19,636 17,693 Parish Giving Scheme Gift Aid 4,909 4,423 Gift Aid Envelopes church collections 545 1,411 Planned giving envelopes (coloured) 1,513 2,136 Loose plate church collections 11,264 6,844 GWD Skinny Donations 90 — Direct Credit from Sumup 91 14 GoodBox donations 6,003 3,710 Giving:- church gift chest (loose) 7,737 5,137 giving:- gift chest (gift aided) 676 453 One-off Gift Aid gifts 3,650 1,170 Donations appeals etc 5,003 4,338 Sound system donations (gift aided) 1,765 — Sound system donations 1,050 — Hand Bell donation 3,050 — Tax recovered on Gift Aid 8,090 6,455 Legacies 5,000 1,000 Choir legacy 1,000 — Total Donations and legacies 94,943 68,632 Income from charitable activities Fees for weddings and funerals 4,892 6,605 Total Income from charitable activities 4,892 6,605 Other trading activities Bookstall sales - fund raising 12,301 10,096 Church lettings 1,800 2,200 Total Other trading activities 14,101 12,296 Investments Dividends 20,104 19,268 CBF Bank interest retained in acounts 729 22 Total Investments 20,833 19,290 Other income Church outings 1,015 — Total Other income 1,015 — Total income and endowments 135,786 106,824

Expenditure

There may be minor discrepancies in the totals if the pence are not being shown

16 March 2023 Page 1

From 01 January 2022 01 January 2021 To 31 December 2022 31 December 2021

Note

31 De To	cember 2022 31	December 2021
Raising funds
Funds raised for Kagera Diocese	—	700
Collection from Team Service	49	—
Total Raising funds	49	700
Expenditure on charitable activities
Giving - relief and development agencies	500	—
Giving - Home missions	2,091	920
Giving- Secular charities	1,449	413
Ministry parish share etc	59,737	59,425
Director of music	4,504	4,504
Assistant director of music	1,249	1,249
Choir	379	—
Hand bell expenditure	1,000	—
Working expenses of incumbent	—	21
Team expenses	6,926	7,679
CCLI licence	123	117
Education	230	78
Parish training and mission	300	—
Cost of services for hall usage (Grandfa	900	950
Organ / piano tuning	1,222	1,850
Cleaning	2,165	1,751
Administration	—	250
Treasurers Office	140	488
Church running - electric	2,812	1,355
Church running - gas	3,840	2,394
Water and Drainage	112	70
Church running - Flowers	507	1,100
Bookstall costs	9,308	7,444
Governance costs examination/audit fee	1,524	1,320
Total Expenditure on charitable activities	101,025	93,382
Other expenditure
Bank commission charges	110	100
Church outings	995	—
Miscellaneous resources	690	1,173
cost of refreshments for church services	234	—
Communion wine etc	582	548
Internet expenditure	738	801
Printing	823	453
Total Other expenditure	4,175	3,077
Total expenditure	105,250	97,159
Excess of Income and endowments over Expenditure	30,535	9,664
Brought forward balance	822,729	677,891
Transfers to/(from)	(2,898)	40,000
Gains & losses	(90,484)	95,173
Total carried forward balance	759,882	822,729

There may be minor discrepancies in the totals if the pence are not being shown

16 March 2023 Page 2

From 01 January 2022 01 January 2021 To 31 December 2022 31 December 2021

Note

FabR - R&F Fund (Restricted) Fund

Income and endowments

Income and endowments
Donations and legacies
Donations appeals etc	5,245	5,000
Sound system donations (gift aided)	2,050	—
Sound system donations	25	—
Total Donations and legacies	7,320	5,000
Investments
Dividends	16,641	16,345
CBF Bank interest retained in acounts	597	12
Total Investments	17,238	16,357
Other income
VAT reclaims	1,795	6,999
Total Other income	1,795	6,999
Total income and endowments	26,354	28,356
Expenditure
Expenditure on charitable activities
Church running - insurance	4,588	4,710
Church maintenance	5,184	691
Church major repairs - structure	—	8,200
Architects fees	4,292	—
Health & Safety management fees	300	—
Church fire protection	73	69
Electrical maintenance	703	1,086
Church security	800	1,546
Boiler maintenance	573	701
Total Expenditure on charitable activities	16,517	17,005
Other expenditure
Bank commission charges	95	69
Miscellaneous resources	190	—
Sound System Project	—	2,351
Total Other expenditure	286	2,420
Total expenditure	16,803	19,425
Excess of Income and endowments over Expenditure	9,550	8,931
Brought forward balance	662,595	552,408
Transfers to/(from)	(2,945)	10,000
Gains & losses	(90,496)	91,256
Total carried forward balance	578,705	662,595

There may be minor discrepancies in the totals if the pence are not being shown

16 March 2023 Page 3

From 01 January 2022 01 January 2021 To 31 December 2022 31 December 2021

Note

Murray - Murray Legacy fund (Restricted) Fund

Murray Legacy fund (Restricted) Fund
Income and endowments
Investments
Dividends	11,297	10,940
CBF Bank interest retained in acounts	561	18
Total Investments	11,858	10,959
Total income and endowments	11,858	10,959
Excess of Income and endowments over Expenditure	11,858	10,959
Brought forward balance	507,530	454,950
Transfers to/(from)	—	(10,000)
Gains & losses	(48,551)	51,620
Total carried forward balance	470,837	507,530
Mullock Lady chapel Legacy (Designated) Fund
Income and endowments
Investments
Dividends	5,692	5,579
CBF Bank interest retained in acounts	760	26
Total Investments	6,453	5,605
Total income and endowments	6,453	5,605
Excess of Income and endowments over Expenditure	6,453	5,605
Brought forward balance	183,384	201,636
Transfers to/(from)	—	(40,000)
Gains & losses	(15,171)	16,142
Total carried forward balance	174,665	183,384
rchyard fund (Endowment) Fund
Brought forward balance	7,172	6,275
Gains & losses	—	896
Total carried forward balance	7,172	7,172

Mullock - Mullock Lady chapel Legacy (Designated) Fund

yard - churchyard fund (Endowment) Fund

There may be minor discrepancies in the totals if the pence are not being shown

16 March 2023 Page 4

From 01 January 2022 01 January 2021 To 31 December 2022 31 December 2021

Note

hurst - Hurst legacy (churchyard) (Endowment) Fund

rst legacy (churchyard) (Endowment) Fund
Brought forward balance	0	0
Gains & losses	(843)	—
Total carried forward balance	(842)	0
asp Fund (Restricted) Fund
Income and endowments
Investments
CBF Bank interest retained in acounts	44	0
Total Investments	44	0
Total income and endowments	44	0
Excess of Income and endowments over Expenditure	44	0
Brought forward balance	212	212
Transfers to/(from)	5,843	—
Total carried forward balance	6,101	212

Klasp - Klasp Fund (Restricted) Fund

Roof - Roof Repair (Restricted) Fund

— — Brought forward balance Total carried forward balance — — — — Brought forward balance Total carried forward balance — —

Hall - Hall Fund (Designated) Fund

There may be minor discrepancies in the totals if the pence are not being shown

16 March 2023 Page 5