## **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