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← The Parochial Church Council Of The Ecclesiastical Parish Of St Edmund's, Southwold

2024-12-31-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 2024 Prepared under the Accruals Accounting Basis

ST EDMUNDS SOUTHWOLD PCC

GENERAL INFORMATION

Church St. Edmund's Church Address Southwold, Suffolk Incumbent Name Revd Russell Gant Address The Vicarage Gardner Road, Southwold, Suffolk IP18 6HJ

Bankers Name Barclays Bank pie Address Waveney Valley Group 61, London Road North Lowestoft, Suffolk NR321LT Examiners Name Ensors Accountants LLP Address Blyth House Rendham Road Saxmundham Suffolk IP17 1WA

Church Return by Type Electoral Roll Resident 67 Electoral Roll Non Resident 48 91 Average Weekly Adult Attendance 11 Average Weekly Young Persons Attendance

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).

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 (CRR). The PCC can also co-opt members for a year within the CRR.

Rector
Rev'dRussellGant
Churchwardens
Marcus Knight
Andrew Hirst
Deanery Synod
Jenny Whines
representatives
Fred Butter - appointed June 2024
JennyGant
Elected members
Ian Johnson (2024 - 27)
Halcyon Meldrum (2022 - 25)
Susan Thomas (2024 - 27)
Daisy Williamson (2024 - 27)
Emma Taylor (2023 - 26)
Grant Mason (2024 -27) - appointed June 2024
Matt Hunt (2024 - 27) - appointed June 2024
Joan Goldsmith (2024- 27)
Jill Horne(2022 - 25)
Co-opted members
Philip Tarris
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. It has been the recent custom to include the Fabric Officer.
Other Appointments
Vice Chair of PCC: Andrew Hirst
Secretary to PCC: Philip Tarris
Treasurer: Jill Horne
Electoral Roll Officer: Joan Goldsmith
Team Council: Jenny Whines, Joan Goldsmith
Parish Safeguarding Officer: Deborah Young
Health & Safety Officer: Vacant
Representative to Christians Together: Joan Goldsmith
Church Liaison Officer: Sarah Wallington Smith~~a=~~

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. It has been the recent custom to include the Fabric Officer.

St Edmunds Southwold: Review of the Year 2024

Aims and Purposes

The Parochial Church Council (PCC) of St Edmunds Southwold has the responsibility of co-operating with the Team Rector and Team Vicar in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The PCC is also specifically responsible for the maintenance of St Edmunds Church.

Objectives and activities

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

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 enable people to live out their faith through:

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 both for our church membership, for the wider community and for those who visit - approximately 30,000 visitors a year at the last count. The PCC is responsible for the maintenance of the fabric, recognising both its historic significance and the need to ensure its continued relevance to contemporary needs.

The PCC has adopted the Church of England's national safeguarding policy 'Promoting a safer church'. There were no safeguarding incidents to report in 2024.

Ministry team

The Team Rector, Revd Russell Gant, was instituted, inducted and installed by the Bishop of Dunwich and the Archdeacon of Suffolk on 27 November 2023, so has now had his first full year in post. The Team Vicar, Revd Alan Perry, retired from full time ministry at the end of December 2024. The full­ time stipendiary clergy in the Sole Bay Team are supported by an Associate Priest (SSM) and four retired priests with Permission To Officiate (PTO), and a further two retired priests with PTO joined the team during 2024. Further support is given by a Lay Reader and an Authorised Lay Preacher.

Worship

The highlights of our worship during the year have included:

Our services and liturgy are very well supported by the church choir directed by Victor Scott. Our thanks to them, and also to Nathan Williamson who plays at the Sunday morning worship, supported by a worship band on occasions.

The weekly Thursday morning Holy Communion service continues to be well supported, often with 20 attending. Tea/coffee and biscuits are provided afterwards by volunteers. Refreshments are also provided by Julia Williamson after the Sunday morning worship each week.

Ministry

Our important ministry to children and teenagers continues through weekly Sunday school and family services. Our thanks to the dedicated team of Sunday School teachers and helpers. The Southwold Beach Mission made its second return visit to Southwold for a week in the summer, supported by the church. We continued the links with Southwold Primary School with 'Open the Book', co-ordinated by Julia Johnson, and festival services in the church, including St Edmund's Day.

We maintained close links with St Barnabas Residential Care home and communion was taken to the residents on a monthly basis by our Lay elders, co-ordinated by Sarah Wallington-Smith. We also provided a carol service. Home communion visits are also made to those who cannot leave their homes. A pastoral care team now meets regularly to co-ordinate visits of volunteers to those in need of company.

Jenny Whines continued to offer a Study Group through the year. We took part in the Ecumenical study groups in Lent and in the Lent lunches.

PCC

The PCC met on 6 occasions during the year. The main topics and projects included:

In April 2024 there were 115 parishioners on the Church Electoral Roll, 48 of whom were not resident within the parish. 12 names were added during the year and 3 were removed. The average weekly attendance was 91 adults and 11 young people. We have held 1 baptism, 5 weddings and 15 funerals/thanksgiving services in our church this year.

St Edmund's continues to be a busy church, particularly with its many visitors and we are very grateful to our stewards who welcome them and for those who lead tours of the building. Thanks are due to all those who work hard to maintain the church building, including the cleaners, those who dust and polish, the flower arrangers and welcomers. We thank our musicians, bell ringers, those who read our Bible readings in services and who deliver intercessions. Thanks also to our churchwardens, sides-people and PCC officers and many others who work tirelessly to ensure we can minister to our community.

~~Tam Rector~~ ' ~~s Annual Repor 2025~~

There is much to celebrate in the shared mission and ministry of the churches of the Sole Bay Team since our last annual report.

Sunday by Sunday, services of worship have continued to attract faithful congregations and as well as to those who attend, I offer my gratitude to all who work tirelessly 'behind the scenes' to ensure our services are possible. Some may not realise the number of roles that are required and sometimes go unnoticed. These include maintaining the buildings and churchyards, our faithful team of bell ringers, those who act as sides-persons, Communion assistants, those who ensure that the IT and live­ streaming reaches people unable to come to church, those who arrange and tend flowers and a host of other tasks. On your behalf, I thank them all most sincerely.

Particular thanks must go to our wonderful clergy team, without whom we would not be able to maintain our comprehensive range of services and our faithful Churchwardens, PCC secretaries, Treasurers and Vergers who give so much to the life of our churches. Thank you all most sincerely.

Our worship is enhanced by music and singing and we remain extremely grateful to our organists, Victor Scott, Isobel Garrard, Alison Evans, Julia Josephs and Ruth Chapman, all our choir members and Nathan Williamson and the members of our worship band.

During Lent last year, members of the churches joined others from across the team and brothers and sisters in the Lord from the United Reformed Church and the Roman Catholic Church for a lent course based around Paula Goode r's Book - 'The Joy of the Gospel.' Many said how helpful they found the discussions.

Holy Week included our usual range of services and the ecumenical Walk of Witness through Southwold High Street.

Myself, Revd Alan Perry and Joan Goldsmith continued to represent the Sole Bay Team at meetings of the Southwold, Reydon and Area Christians Together group and we are so grateful for this ecumenical work.

The Open the Book Team has faithfully shared Bible stories in both Reydon and Southwold Primary Schools to the enthusiasm of the children and myself, and Revd Alix Taylor (from St Luke's in Beccles) have taken chapel services twice per half term at St Felix School.

We were extremely blessed to appoint a new Team Administrator in June and Amanda Savory has already made an enormously helpful contribution supporting our clergy and lay leaders.

2024 was a year of comings and goings. We said goodbye to Fr Stephen Abbott and his wife Anne as they moved north to be nearer family, but this potential 'gap' in the team has quickly been filled by the arrival of Reverends Lesley and Alan Crawley who have retired locally, and both hold the Bishop's Permission to Officiate. We have been particularly grateful for Alan's help with livestreaming.

Finally, at the end of December, we said a very fond farewell to Reverend Alan Perry, our Team Vicar and his wife Sue. Alan had been in post for almost nine years and his ministry has been hugely appreciated by so many. Alan's retirement was marked by a special service at St Peter and St Paul's Church in Wangford on the last Sunday of 2024 and was extremely well attended. We all wish Alan and Sue every blessing for the future.

Therefore, much of the beginning of 2025 has been taken up with the process of prayerfully discerning the future role of Team Vicar and preparing a Parish Profile and role description to allow the post to be advertised. It is hoped that the next Team Vicar will take up the role towards the later part of 2025.

As I began, so I end -with my sincere thanks for your partnership in the gospel.

Revd Russ Gant- Team Rector

Financial Review 2024

Unrestricted Funds (General Fund)

Principal Sources of Funds

The principal sources of unrestricted funds in 2024 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. Tax recovered on gift-aided donations including PGS

  4. Service collection plates

  5. Regular giving by standing orders

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

  7. The Gift Chest at the entrance to church

  8. Fees for weddings and funerals

  9. Bookstall sales

  10. Regular giving in coloured envelopes

Total unrestricted income of £136,227 was up compared with last year's total figure of £132,654. The gift chest donations have increased slightly by £604. Loose plate collections have decreased very slightly by £387 but gift aid church collections have increased very slightly to £2,040. The GoodBox, GWD Skinny and QR code continue to provide a method of contactless giving and their contribution has increased very slightly by £503.

During 2025 it would be prudent to promote the use of the GWD Skinny as donors are given the opportunity to pay the transaction fee and sign up for gift aid. As the GWD Skinny is linked to the PGS scheme gift aid is claimed for us and deposited in our account along with the donation itself. This saves some administration time and provides us with a monthly rather than a quarterly income.

It is gratifying that the number of those signed up to the Parish Giving Scheme has increased again this year. Grateful thanks must also be offered to all those who have supported our church regularly throughout the year. Regular giving excluding gift aid has increased by £911.

The Benefact Trust donated £2,300 for the refurbishment of the church organ. Thank you to all those who have made donations to this cause and to Victor Scott all the donations he has secured by playing the piano for visitors in church.

Total unrestricted expenditure was £120,393 compared with £117,479 in 2023. These increases are largely due to an increase in the Parish share and energy costs.

The dividends and interest income received on unrestricted investments was £33,881 compared with £30,219 in 2023. 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 of £63,748 represented 47% of our total unrestricted income in 2024. The Parish Share for 2025 has been increased by 3.17% (by about another £2,000)

Donations to charities have been made as follows:

£1,000 - Southwold Beach Mission £954. 75 - The Royal British Legion Poppy Appeal

£756.22 - The Children's Society from the collection taken at our Christingle service 2023. £225 - Mission to Seafarers from donations on Sea Sunday

£200 - Lowestoft Food Bank

£200 - Light up Southwold

We aim to reserve in liquid funds a minimum of three months fees for each of our three self-employed 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 monthly budget set for the bookstall remains at £650 and £100 for church flowers per month. The setting of these budgets continues to help manage cash flow.

The aim of the treasury team this year is to discuss the setting up of additional budgets in 2025.

Restricted Funds (Restoration and Fabric Fund)

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 £33,905, up £2,790 on last year.

Restricted expenditure was £21,835 compared with £76,059 in 2023. The church paid for the construction of a new noticeboard in 2024 but no other major works.

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 and the need for major works arising from quinquennial inspections.

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 2024

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 2024.

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 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 IP171WA

St Edmunds Southwold PCC -1133770

Statement of Financial Activities

For the period from 01 January 2024 to 31 December 2024

Unrestricted
funds		 Designated
funds		 Restricted
funds		 Endowment
funds		 Total
funds		 Prior year
total funds
Income and endowments from:
Donations and legacies 91,617 9,000 100,617 121,017
Income from charitable activities 8,573 8,573 4,593
Other trading activities 9,336 9,336 12,107
Investments 25,485 8,396 33,905 67.788 61,335
Other income 1,215 3,372 4,587 11,483
Total income 136,227 8,396 46,278 190,902 210,536
Expenditure on:
Raising funds 83 83 1,481
Expendilure on charitable activities 114,574 16,178 130,753 148,889
01her expenditure 5,735 5,656 11,392 43,167
Total expenditure 120,393 21,835 142,229 193,538
Net Income / (expenditure) resources before transfer Net Income / (expenditure) resources before transfer
15,833		 8,396 24,442 48,673 16,997
OT
Transfers
Gross transfers between funds - in 40,170
Gross transfers between funds - out (40,170)
Other recognised gains I losses
Gains / losses on investment assets 19,459 594 43,385 753 64,192 170,616
~~a~~ ~~a~~
i		 ~~a~~ ~~a~~ ~~a~~ ~~a~~ ~~a~~
Net movement In funds 35,293 8,991 67,828 753 112,866 187,614
Reconciliation of funds
Total funds brought forward 862,914 155,251 1,159,640 6,329 2,184,136 1,996,522
Total funds carried forward 898,207 164,243 1,227,468 7,082 2,297,002 2,184,136

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

25 April 2025 Page 1

St Edmunds Southwold PCC - 1133770

Balance sheet (Church of England) As at: 31 December 2024

As at 31/12/2024 As at 31/12/2023
£ £
Fixed assets
Investments 2,015,839 1,951,646
2,015,839 1,951,646
Current assets
Stocks and work in progress 4,288 5,925
Debtors 6,736 8,482
Cash at bank and in hand 272,477 224,532
283,502 238,941
Liabilities
Creditors: Amounts falling due in one year 778 '1,927
Provision for liabilities and charges due within one year 1,560 1,524
Net current assets less current liabilities 281,163 232,490
Total assets less current liabilities 2,297,002 2,184,136
Total net assets less liabilities 2,297,002 2,184,136
Represented by
Unrestricted
Unrestricted - General fund 898,207 862,914
Designated
Designated - Mullock Lady chapel Legacy 164,243 155,251
Designated - Hall Fund
Restricted
Restricted - R&F Fund 704,038 658,991
Restricted - Murray Legacy fund 516,799 494,352
Restricted - Klasp Fund 6,630 6,296
Restricted - Roof Repair
Endowment
Endowment - churchyard fund 7,082 7,172
Endowment - Hurst legacy (churchyard) 0 (842)
Funds of the church 2,297,002 2,184,136

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

Page 1

09 April 2025

St Edmunds Southwold PCC -1133770

Analysis of income and expenditure Selected period: 01 January 2024 to 31 December 2024

Total
Unrestricted Designated Restricted Endowment This year Last year
Income and endowments
Donations and legacies
0101 - Gift Aid -Bank standing orders 9,922 9,922 12,952
0102 - Parish Giving Scheme 24,241 24,241 19,893
0103 - Parish Giving Scheme Gift Aid 6,060 6,060 4,973
0110 - Gift Aid Envelopes church 2,040 2,040 1,906
collections
0201 - Planned giving envelopes 913 913 1,320
(coloured)
0301 - Loose plate church collections 11,510 11,510 11,897
0406 - GWD Skinny Donations Gift Aid 0406 - GWD Skinny Donations Gift Aid 323 323 105
0407 - GWD Skinny Donations 2,501 2,501 1,829
0408 - Direct Credit from Sumup 48 48 42
0409 - GoodBox donations 6,717 6,717 6,892
0410 - Giving:- church gift chest (loose) 8,708 8,708 8,115
0411 - giving:- gift chest (gift aided) 967 967 956
0550 - Donations appeals etc 5,777 5,000 10,777 17,566
0552 - Sound system donations 25,000
0554 - Organ donations 4,932 4,932 486
0601 - Tax recovered on Gift Aid 5,752 5,752 7,043
0701 - Legacies 1,000 4,000 5,000
0703 - Choir legacy 200 200
0901 - Other funds generated 35
Donations and legacies Totals 91,617 9,000 100,617 121,017
Income from charitable activities
1101 - Fees for weddings and funerals 1101 - Fees for weddings and funerals 8,573 8,573 4,593
Income from charitable activities 8,573 8,573 4,593
Totals
Other trading activities
1220 - Bookstall sales - fund raising 8,206 8,206 11,529
1241 - Church lettings 1,130 1,130 578
~~eee~~
Other trading activities Totals 9,336 9,336 12,107
Investments
1001 - Dividends 21,776 5,780 28,625 56,181 54,476
1020 - CBF Bank interest retained in 3,709 2,616 5,280 11,606 6,859
acounts
~~dee~~
~~ae~~
Investments Totals 25,485 8,396 33,905 67,788 61,335
Other income
0704 - Leaving collections 2,546
0905 - Church outings 551
1102 - Church flowers 1,215 1,215 580
131 O - Insurance claims 564 564 530
1315- VAT reclaims 2,808 2,808 7,276

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

09 April 2025 Page 1

Total Total
Unrestricted Designated Restricted Endowment This year Last year
Other income Totals 1,215 3,372 4,587 11,483
Income and endowments 136,227 8,396 46,278 190,902 210,536
Grand totals
Expenditure
Raising funds
1831 - Funds raised for Kagera Diocese 1,070
2104-Collection from Team Service 83 83 411
Raising funds Totals 83 83 1,481
Expenditure on charitable activities
1830 - Giving -relief and development 100 100
agencies
1850 - Giving - Home missions 2,386 2,386 1,350
1870 - Giving- Secular charities 1,910 1,910 2,193
1871 -Costs of fundraising for missions 102 102
1910 - Ministry parish share etc 63,748 63,748 61,989
2001 - Verger 40
201 O - Director of music 4,504 4,504 4,504
2011 - Assistant director of music 1,249 1,249 1,249
2013 - Choir 37 37
2015 - Hand bell expenditure 2,188
2101 - Working expenses of incumbent 57 57 115
2103- Team expenses 7,120 7,120 6,926
2130 - Belfry running expenses 141
2145 - CCLI licence 138 138 132
2170 - Education 249 249 226
2201 - Parish training and mission 49
2301 -Church running -insurance 5,938 5,938 5,378
2315 - Cost of services for hall usage 1,000
(Grandfa
2320 - Organ_I_piano tuning 9,426 9,426 1,425
2330 - Church maintenance 2,502 2,502 8,006
2331 -Cleaning 4,764 4,764 3,773
2350 - Upkeep of churchyard 454
2361 - Treasurers Office 89
2401 - Church running -electric 4,045 4,045 2,944
241 O - Church running -gas 3,767 3,767 3,409
2422 - Water and Drainage 266 266 193
2430 - Church running - Flowers 957 957 1,243
251 O - Bookstall costs 8,188 8,188 7,220
2601 - Governance costs 1,554 1,554 1,524
examination/audit fee
2702 - Architects fees 1,277 1,277 993
2704 - Structural engineers fees 660 660
2705 - Health & Safety management 600
fees
2706 -Church fire protection 1,669 1,669 346
2711 - Electrical maintenance 701 701 288
2713 - Sound system maintenance 453 453 66
2715 - Church security 1,396 1,396 1,353
2717 - Drains and gutter maintenance 521 521 357
2718 - Boiler maintenance 215 215 815
2720 - Church interior decorating 841 841 26,262

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

09 April 2025 Page 2

Total Total
Unrestricted Designated Restricted Endowment This year Last year
2840 - Other PCC property upkeep 36
Expenditure on charitable 114,574 16,178 130,753 148,889
activities Totals
Other expenditure
2102 - Church warden's expenses 49
2125 - Bank commission charges 102 103 205 207
2161 - Church outings 690
2302 - Miscellaneous resources 2,278 2,278 1,138
2303 - cost of refreshments for church 544 544 32
services
2304 - Communionwineetc 636 636 601
2311 - Internet expenditure 933 933 842
2312 - Gocardless GOW Skinny 200 200 168
2329 - Vicarage maintenance 4,457
2351 - Church noticeboard 5,553 5,553
2362 - Printing 1,041 1,041 601
2371 - Leaving presents 2,681
2723 - Sound System Project 31,698
Other expenditure Totals 5,735 5,656 11,392 43,167
Expenditure Grand totals 120,393 21,835 142,229 193,538

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

09 April 2025 Page 3

ST EDMUNDS SOUTHWOLD PCC

CHARITY NUMBER 1133770

NOTES TO THE FINANCIAL STATEMENTS For the year ending 31 December 2024

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 As ets

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 2024

2 STAFF COSTS

The PCC does not have any employees but does utilise the services of a musical director (£4,504) and an assistant musical director (£1,249), both of whom are self-employed (2023:2).

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3 TRANSACTIONS WITH RELATED PARTIES 2024 2023
£ £
Name Relationship Description
Mr N Williamson Husband of PCC Member Assistant musical director 1,249 1,249
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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 reimbursement for PCC expenditure incurred on behalf of the charity.

5 INVESTMENTS

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||| |---|---| |£| |Market value as at 1 January 2024|1,951,646| |Unrealised gains/(losses) on investment assets during the year|64,193| |Market value as at 31 December 2024|2,015,839| |The market value at 31 December 2024 represents investments for the following:-| |£| |Unrestricted funds|802,507| |Designated funds - Mullock legacy|107,723| |Restricted funds - Restoration & Fabric|134,694| |Restricted funds - Murray legacy|403,230| |Restricted funds - Usher legacy|525,004| |Restricted funds - Southwold Saints|35,605| |Endowment Funds|7,076|

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The market value at 31 December 2024 represents investments for the following:-

2,015,839

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||||| |---|---|---|---| |6 DEBTORS AND PREPAYMENTS|2024|2023| |Gift aid claim|851|1,121| |Weddings and funerals 4th Quarter fees|1,682| |Insurance|(R & F Fund)|1,395|1,273| |DCMS Grant (VAT reclaim)|(R & F Fund)|2,808|6,088| |6,736|8,482|

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ST EDMUNDS SOUTHWOLD PCC

CHARITY NUMBER 1133770

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ending 31 December 2024

7 LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023
£ £
Flower Festival Fund 1,200
Church - electricity 491 2,000
Church-gas 287 1,258
Book stall costs 469
Independent examination fee 1,560 1,524
2,338
6,451
—ee

7 LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR

8 CAPITAL COMMITMENTS

The PCC had not authorised any capital expenditure at 31 December 2024 (2023: £Nil).

9FUNDS

Murray legacy, both income and capital is restricted to Restoration and Fabric purposes. During the year, dividend income and interest totalling £13,796 was received and there was an unrealised gain on investments of £8,650 as at the year end date.

Mullock legacy, both income and capital is designated. During the year, dividend income and interest totalling £8,399 was received and there was an unrealised gain on investments of £595 as at the year end date.

Usher legacy, both income and capital is restricted to Restoration and Fabric purposes. During the year, dividend income and interest totalling £12,474 was received and there was an unrealised gain on investments of £30,925 as at the year end date.

Southwold Saints legacy income is restricted to Restoration and Fabric purposes. During the year, dividend income of £966 was received and there was an unrealised gain on investments of £797 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 £6,332 and there was an unrealised gain of £3.014 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 £25,293 and showed an unrealised gain of £20,055.

10 DONATIONS AND LEGACIES

An unrestricted legacy of £1,000 was bequeathed to the church during the year (2023: £Nil). There was also a restricted legacy of £4,000 bequeathed to the church in July 2024 (2023: £Nil).

11 ANALYSIS OF NET ASSETS BY FUND

Unrestricted Designated Restricted Endowment Total Total
Funds Funds Funds Fund 2024 2023
£ £ £ £ £ £
Investments 802,507 107,723 1,098,533 7,076 2,015,839 1,951,646
Cash at bank 91,216 56,520 124,735 6 272,477 224,533
Debtors and stock 6,822 4,202 11,024 14,408
Liabilities falling due in one year (2,338) (2,338) (2,338) (6,451)
el
898,207 164,243 1,227,470 7,082 2,297,002 2,184,136

St Edmunds Southwold PCC - 1133770 Receipts and payments Selected period: 01 January 2024 to 31 December 2024

From From 01 January 2024 01 January 2023
Note To To
31 December 2024		 31 December 2023
General - General fund (Unrestricted) Fund
Income and endowments
Donations and legacies
Gift Aid -Bank standing orders 9,922 12,952
Parish Giving Scheme 24,241 19,893
Parish Giving Scheme Gift Aid 6,060 4,973
Gift Aid Envelopes church collections 2,040 1,906
Planned giving envelopes (coloured) 913 1,320
Loose plate church collections 11,510 11,897
GWD Skinny Donations Gift Aid 323 105
GWD Skinny Donations 2,501 1,829
Direct Credit from Sumup 48 42
GoodBox donations 6,717 6,892
Giving:- church gift chest {loose) 8,708 8,115
giving:- gift chest (gift aided) 967 956
Donations appeals etc 5,777 10,606
Organ donations 4,932 486
Tax recovered on Gift Aid 5,752 7,043
Legacies 1,000
Choir legacy 200
Other funds generated 35
Total Donations and legacies 91,617 89,057
Income from charitable activities
Fees for weddings and funerals 8,573 4,593
Total Income from charitable activities 8,573 4,593
Other trading activities
Bookstall sales - fund raising 8,206 11,529
Church lettings 1,130 578
Total Other trading activities Total Other trading activities
9,336		 12,107
Investments
Dividends 21,776 20,650
CBF Bank interest retained in acounts 3,709 1,979
Total Investments 25,485 22,629
Other income
Leaving collections 2,546
Church outings 551
Church flowers 1,215 580
Total Other income 1,215 3,677
Total income and endowments 136,227 132,064
Expenditure
Raising funds
Funds raised for Kagera Diocese 1,070
Collection from Team Service 83 411
Total Raising funds Total Raising funds 83 1,481

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

09 April 2025 Page 1

Note

From 01 January 2024 01 January 2023
To 31 December 2024 31 December 2023
Expenditure on charitable activities
Giving - relief and development agencies Giving - relief and development agencies 100
Giving - Home missions 2,386 1,350
Giving- Secular charities 1,910 2,193
Costs of fundraising for missions 102
Ministry parish share etc 63,748 61,989
Verger 40
Director of music 4,504 4,504
Assistant director of music 1,249 1,249
Choir 37
Hand bell expenditure 2,188
Working expenses of incumbent 57 115
Team expenses 7,120 6,926
CCLI licence 138 132
Education 249 226
Parish training and mission 49
Cost of services for hall usage (Grandfa 1,000
Organ_I_piano tuning 9,426 1,425
Church maintenance 780
Cleaning 4,764 3,773
Treasurers Office 89
Church running - electric 4,045 2,944
Church running - gas 3,767 3,409
Water and Drainage 266 193
Church running - Flowers 957 1,243
Bookstall costs 8,188 7,220
Governance costs examination/audit fee 1,554 1,524
Church fire protection 29
Other PCC property upkeep 36
Total Expenditure on charitable activities 114,574 104,634
Other expenditure
Church warden's expenses 49
Bank commission charges 102 102
Church outings 690
Miscellaneous resources 2,278 1,138
cost of refreshments for church services 544 32
Communion wine etc 636 601
Internet expenditure 933 842
Gocardless GOW Skinny 200 168
Vicarage maintenance 4,457
Printing 1,041 601
Leaving presents 2,681
Total Other expenditure 5,735 11,362
Total expenditure 120,393 117,479
Excess of Income and endowments over Expenditure Excess of Income and endowments over Expenditure 15,833 14,584
Transfers tol(from) 19,830
Gains & losses 19,459 68,616
Brought forward balance 862,914 759,882
Total carried forward balance 898,207 862,914

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

09 April 2025 Page 2

From 01 January 2024 01 January 2023 To 31 December 2024 31 December 2023

Note

FabR - R&F Fund (Restricted) Fund

FabR - R&F Fund (Restricted) Fund
Income and endowments
Donations and legacies
Donations appeals etc 5,000 6,960
Sound system donations Sound system donations 25,000
Legacies 4,000
Total Donations and legacies 9,000 31,960
Investments
Dividends 17,096 16,780
CBF Bank interest retained in acounts 2,678 1,225
Total Investments 19,774 18,005
Other income
Insurance claims 564 530
VAT reclaims 2,808 7,276
Total Other income 3,372 7,806
Total income and endowments 32,147 57,771
Expenditure
Expenditure on charitable activities
Belfry running expenses Belfry running expenses 141
Church running - insurance 5,938 5,378
Church maintenance 2,502 7,226
Upkeep of churchyard 454
Architects fees 1,277 993
Structural engineers fees 660
Health & Safety management fees 600
Church fire protection 1,669 317
Electrical maintenance 701 288
Sound system maintenance 453 66
Church security 1,396 1,353
Drains and gutter maintenance 521 357
Boiler maintenance 215 815
Church interior decorating 841 26,262
Total Expenditure on charitable activities 16,178 44,255
Other expenditure
Bank commission charges 103 105
Church noticeboard 5,553
Sound System Project 31,698
Total Other expenditure 5,656 31,804
Total expenditure 21,835 76,059
Excess of Income and endowments over Expenditure 10,312 {18,287)
Transfers to/{from) 20,170
Gains & losses 34,735 78,403
Brought forward balance Brought forward balance 658,991 578,705
Total carried forward balance 704,038 658,991

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

09 April 2025 Page 3

From 01 January 2024 01 January 2023 To 31 December 2024 31 December 2023

Note

Murray - Murray Legacy fund (Restricted) Fund

Murray - Murray Legacy fund (Restricted) Fund
Income and endowments
Investments
Dividends 11,529 11,353
CBF Bank interest retained in acounts 2,267 1,560
Total Investments 13,796 12,914
Total income and endowments 13,796 12,914
Excess of Income and endowments over Expenditure 13,796 12,914
Transfers to/(from) (20,000)
Gains & losses 8,649 30,600
Brought forward balance 494,352 470,837
Total carried forward balance 516,799 494,352
Mullock - Mullock Lady chapel Legacy (Designated) Fund
Income and endowments
Investments
Dividends 5,780 5,692
CBF Bank interest retained in acounts 2,616 1,897
Total Investments 8,396 7,590
Total income and endowments 8,396 7,590
Excess of Income and endowments over Expenditure 8,396 7,590
Transfers to/(from) (20,000)
Gains & losses 594 (7,004)
Brought forward balance 155,251 174,665
Total carried forward balance 164,243 155,251
yard - churchyard fund (Endowment) Fund
Gains & losses (90)
Brought forward balance 7,172 7,172
Total carried forward balance 7,082 7,172

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

09 April 2025 Page 4

From 01 January 2024 01 January 2023 To 31 December 2024 31 December 2023

Note

hurst - Hurst legacy (churchyard) (Endowment) Fund

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Gains & losses 843
Brought forward balance (842) (842)
———
Total carried forward balance 0 (842)
-
Klasp Klasp Fund (Restricted) Fund
Income and endowments
Investments
CBF Bank interest retained in acounts 195
Total Investments 334 195
——
Total income and endowments 334 195
Excess of Income and endowments over Expenditure 334 195 —
Brought forward balance 6,296 6,101
——
Total carried forward balance 6,630 6,296
Roof - Roof Repair (Restricted) Fund
Brought forward balance
Total carried forward balance a
Hall - Hall Fund (Designated) Fund
Brought forward balance
Total carried forward balance a
334
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There may be minor discrepancies In the totals if the pence are not being shown

09 April 2025 Page 5