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← The Parochial Church Council Of The Ecclesiastical Parish Of Holy Sepulchre Cambridge

2023-12-31-accounts

DocuSign Envelope ID: BD33677A-1DD0-4016-BC43-0E67D4B518F7

PAROCHIAL CHURCH COUNCIL OF HOLY SEPULCHRE CAMBRIDGE

CHARITY NUMBER 1133975

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Draft v5 at 09.04.2024

DocuSign Envelope ID: BD33677A-1DD0-4016-BC43-0E67D4B518F7

PAROCHIAL CHURCH COUNCIL OF HOLY SEPULCHRE CAMBRIDGE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Contents Pages
Parochial Church Council's Annual Report 1 - 4
Independent Audit Report 5 - 7
Statement of Financial Activities 8
Balance Sheet 9
Statement of Cash Flows 10
Notes to the financial statements 11 - 20

Charity Number 1133975

Principal Address

St Andrew the Great Church St Andrew's Street Cambridge CB2 3AX

Principal Bankers

CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling ME19 4TA

Auditors

Chater Allan LLP 7 Quy Court Colliers Lane Stow-cum-Quy Cambridge CB25 9AU

DocuSign Envelope ID: BD33677A-1DD0-4016-BC43-0E67D4B518F7

PAROCHIAL CHURCH COUNCIL OF HOLY SEPULCHRE CAMBRIDGE PAROCHIAL CHURCH COUNCIL’S ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

Background

The Parochial Church Council is a corporate body established by and operating under the Parochial Church Councils (Powers) Measure 1956. The PCC is registered with the Charity Commission as 'The Parochial Church Council of the Ecclesiastical Parish of Holy Sepulchre, Cambridge', with registration number 1133975. The PCC has the responsibility of co-operating with the vicar, Rev Alasdair Paine, in promoting in Cambridge the whole mission of the church, pastoral, evangelistic, and ecumenical. It also has maintenance responsibilities for St Andrew the Great Church, Holy Sepulchre Church (the Round Church), 1 Pretoria Road, 64 St Albans Road and 19 Acrefield Drive.

Membership

Members of the PCC are either ex-officio or co-opted or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules.

During the year and the time at which these accounts were approved the following served as members of the PCC:

Vicar: Rev Alasdair Paine (Chairman)
Associate Vicar (Families): Rev John Percival
Associate Vicar (Students): Rev Robbie Strachan (to May 2024)
Churchwardens: Dr Ugochukwu Akuwudike (from June 2023, Assistant until then)
Mr Nick Clarey
Mr Piyush Jani (to June 2023)
Assistant Churchwardens: Dr Timothy Nye
Mr James Roberts (from April 2023)
Representative on the Mr Christopher Townsend
General Synod:
Representatives on the Dr Ugochukwu Akuwudike
Diocesan Synod: Mrs Sarah Robinson
Representatives on the Prof Peter Robinson (to June 2023)
Deanery Synod: Mr Tobias Gleed-Owen (from April 2023)
Mrs Francine Tustin
Dr Stephen Walley (PCC Secretary)
Elected: Mr Matthew Baker (Treasurer) Mr Paul Lott
Mr David Barry Mrs Anna Lovelock
Dr Luke Brereton Mr Daniel Rignall
Mrs Pauline Chan Mr James Roberts
Miss Claire Dennison (from April 2023) Mr Joel Wee (from April 2023)
Mrs Sarah Dingley (to April 2023) Mrs Katrina West
Mrs Gail Featherstone

Committees

The PCC operates through a number of committees, which meet between full meetings of the PCC.

Finance and Standing Committee:

This committee, required by law, has the power to transact the business of the PCC between its meetings, subject to any directions given by the PCC. It also oversees the general financial aspects of the work of the church by monitoring income and expenditure, budgeting and coordinating the annual Gift Day.

Remuneration Committee:

A subcommittee of the Finance and Standing Committee, see 'Remuneration of Staff' below.

Property Committee:

Attends to matters concerning the stewardship of all buildings used by the church.

World Mission Group (WMG):

Coordinates the use of a budget provided by the PCC for the support of mission work outside the UK.

UK Mission Group (UKMG):

Coordinates the use of a budget provided by the PCC for the support of mission work in the UK.

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DocuSign Envelope ID: BD33677A-1DD0-4016-BC43-0E67D4B518F7

PAROCHIAL CHURCH COUNCIL OF HOLY SEPULCHRE CAMBRIDGE PAROCHIAL CHURCH COUNCIL’S ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Safeguarding Committee:

The responsibility of the Safeguarding Committee is to support the Parish Safeguarding Officers and to assist the PCC and the Vicar in their oversight of the implementation of the PCC's Safeguarding Policy.

Day to day pastoral and operational management is delegated to the Vicar, who is assisted by the Senior Staff team (Associate Vicar (Families), Associate Vicar (Students), Women's Worker, Internationals Pastor, Internationals Worker, 20s & 30s Pastor and Senior Administrator) and the wider staff team.

Objectives

We believe that Jesus Christ is God's one and only Son, who offers hope and forgiveness to all who receive Him: 'For God so loved the world that He gave His one and only Son, that whoever believes in Him shall not perish but have eternal life.' (The Bible, John 3v16)

Our vision for the church at St Andrew the Great is as follows:

1. A church committed to the Bible and to prayer - At the heart of our ministry is teaching the Bible as God’s key instrument for proclaiming Jesus Christ as Lord and for building up His followers on earth. Our worship is the offering of our entire lives to God in holiness and service. At our main meetings we aim (1) to encourage each other to feed ourselves on God’s word and to give ourselves to prayer, so that we may worship God better in our lives; and (2) to draw in outsiders without embarrassment.

2. A church committed to a specific mission - It is our special task to serve the academic communities in which we are placed, including the growing international academic community. There are two aspects to the work of our church (‘Town’ and ‘Gown’), but both depend on one another: by becoming a better ‘normal’ church, we also become a better student church.

3. A church committed to mature discipleship for every member - Some people are paid to organise the church’s life, but all are ministers of the gospel. So we also meet in smaller groups to encourage one another to use our spiritual gifts to serve others. Each member should have a vision of what God wants to do with his or her life for His own glory. We believe that God means us to grow, individually and as a church; that growth is change; and that change may be painful. We accept the pain of change gladly for the sake of bringing the gospel to our contemporaries.

Review of Activities, Achievements and Performance

Our numbers continued to build during 2023, particularly at our 10am service, at which the building has often been pretty much full. Consideration is now being given as to next steps to accommodate this growth, either here or with a church plant.

We are so thankful to God for this: the church is His work and His bride, won by His Son and built by His all-sufficient Word.

Amy Robertson started as our new Senior Administrator in January, and the team was also joined by Janice Pong. James Townsend finished as our youth worker to start ordination training in the autumn, and Tim Taylor took on this role. We were joined by new interns, as well as one more international intern from Kenya; they are a blessing to the church and we count it a great privilege to be involved in their training.

The Church of England’s Prayers of Love and Faith, first published in draft by the House of Bishops in January of the year, dominated the PCC’s work. General Synod voted by tiny margins to pursue this unbiblical course of action. The PCC resolved to request ordained staff not to conduct such prayers, and to pause parish share until it could be re-routed via a trust. At the end of the year the PCC agreed to pay the Diocese of Ely only our direct costs, plus a contribution towards safeguarding and administrative costs. This is being done via the Ephesian Fund, established by the Church of England Evangelical Council (CEEC). The PCC has supported CEEC with their vital campaigning and legal work, and it is our shared longing that the Church of England does not depart from Scripture and our founding documents.

At our monthly church prayer meetings we have been able to hear reports of activities across the church, and we record profound gratitude to God for His generous answers to our prayer. We are thankful to Him also for the labours of so many members of the church family in so many ways, seen and unseen.

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DocuSign Envelope ID: BD33677A-1DD0-4016-BC43-0E67D4B518F7

PAROCHIAL CHURCH COUNCIL OF HOLY SEPULCHRE CAMBRIDGE PAROCHIAL CHURCH COUNCIL’S ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Church Attendance

The electoral roll at the 2023 APCM showed 516 names (2022 - 477). The average attendance in person in 2023 was 766 (2022 - 643). By comparison to pre Covid-19 times, the average for 2019 was 733. We continue to offer livestreaming of our services, an average of 86 people sign up to this each week (2022 - 106 people).

Volunteers

The PCC and church staff encourage church members to serve in an appropriate area of church life and ministry. Approximately 350 people served in this way during 2023 and 2022.

Financial Review of the Year

The principal funding sources are regular giving by standing order, one off donations, Gift Day (see Note 14), the Jesus Lane Trust and property letting. Major expenditure is on staff employment costs, staff housing costs, the Ministry Share, grants made by the World Mission Group, grants made by the UK Mission Group, grants made from Gift Day income, and running and maintenance of the St Andrew the Great church building.

Grant Making Policy

As noted above, the World Mission Group and UK Mission Group make grants for those purposes in line with the budget set by the PCC. For the annual Gift Day, the PCC decides on the recipients and communicates this to church members, and grants all of the funds raised plus Gift Aid to those recipients. In addition, the PCC makes some discretionary grants in line with its objectives. All grants are detailed in Note 16.

Policy on Reserves

The Trustees have agreed that a sum of at least three months average net expenditure of the charity, or a minimum of £75,000, from general reserves should be maintained in the charity’s current accounts to provide for the short-term working capital requirements of the charity.

Financial assets in excess of agreed reserves may be otherwise invested in accordance with this policy to provide a return. In addition, the Trustees agree that the sums designated as the Contingency Fund, the Ministry Fund, and the Restoration Fund should be invested appropriately until required.

The Contingency Fund represents a legacy from a previous vicar of the church, and a £5,500 legacy received in May 2014. This fund is used to underwrite new initiatives and help cashflow when necessary.

The Ministry Fund was set up from the residue of the bequest from the estate of Margaret Welch for the funding of gospel initiatives as authorised by the PCC.

The Restoration Fund is used to hold money set aside for restoration and repairs of St Andrew the Great and Round Church buildings.

The Vicar's Discretionary Fund was set up during 2012 as a restricted fund for discretionary payments authorised by the Vicar and Wardens to people in need.

Induction and Training of Trustees

Members of the PCC are the Charity Trustees. All new members are sent a welcome letter to explain their responsibilities as trustees, and the Church of England's booklet 'Trusteeship: An Introduction for PCC Members', which explains both Charity Commission and Church of England requirements. Induction is provided by the Chair of the PCC at the first PCC meeting after the APCM.

Remuneration of Staff

The Remuneration Committee consisting of a Churchwarden, the Treasurer and another church member determines employment packages for recommendation to the Finance and Standing Committee. Stipends for pastoral staff are linked to the Ely Diocesan rates for Church of England clergy and stipends for administrative staff are linked to the University of Cambridge salary scales.

Public Benefit

The Holy Sepulchre's PCC has considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. In particular the PCC try to enable ordinary people to live out their faith as part of the local community through:

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DocuSign Envelope ID: BD33677A-1DD0-4016-BC43-0E67D4B518F7

PAROCHIAL CHURCH COUNCIL OF HOLY SEPULCHRE CAMBRIDGE PAROCHIAL CHURCH COUNCIL’S ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Fundraising

The PCC does not raise funds from the general public or use any third parties for fundraising activities. The PCC encourages church members to consider the Bible's teaching on giving and, if members choose to give to the PCC, encourages giving by standing order with Gift Aid declarations to ensure giving in a tax efficient manner. All giving is completely confidential between the giver and the finance team. Each year the church has a 'Gift Day' for specific projects, which is communicated to church members in Sunday services and by email, with giving by bank transfer or cheque. For general donations we also have a 'Paya' contactless card machine in the building which allows people to give by credit or debit card.

Risk Management

The major risks to which the PCC is exposed, and steps taken to mitigate those risks, are as follows:

  1. Safeguarding of children and vulnerable adults - See below.

  2. Significant damage to any of our buildings - Insurance policies are in place to cover damage to St Andrew the Great, the Round Church and PCC owned houses.

  3. Non compliance with employment, financial or health and safety regulations - We have public liability and employer liability insurance, written financial procedures and written health and safety procedures.

  4. Financial stability - The Finance and Standing Committee sets an annual budget, regularly reviews management accounts compared to this budget, and makes key spending decisions.

The PCC maintains a complete Risk Register covering financial, operational, governance, regulatory, external and spiritual risks and corresponding mitigation measures.

Safeguarding

The PCC has had due regard to the House of Bishops' guidance in relation to safeguarding and has a fully compliant Safeguarding Policy which is displayed at www.stag.org/safeguarding The Policy has been reviewed by the Diocesan Safeguarding team and is updated regularly as appropriate. The church has two Parish Safeguarding Officers, a Safeguarding Committee and two Children’s Advocates. All staff, officials and small group leaders have been recruited safely.

Responsibilities of the Parochial Church Council Members

The Parochial Church Council (PCC) members are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, (United Kingdom Generally Accepted Accounting Practice).

The PCC members are required to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity, including the net income and expenditure of the charity, for the year. In preparing these financial statements the PCC members are required to:

Plans for Future Periods

As ever, the PCC intends to continue its main aim of promoting the gospel in Cambridge and beyond. In line with this, the PCC plans in due course to sell unnecessary properties to free up the charity's staff from the distraction of property maintenance activities and to enable the proceeds to be used in accordance with the aims of the charity.

On behalf of the PCC

Rev Alasdair Paine (Chairman) 29 April 2024

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DocuSign Envelope ID: BD33677A-1DD0-4016-BC43-0E67D4B518F7

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF PAROCHIAL CHURCH COUNCIL OF HOLY SEPULCHRE CAMBRIDGE

Opinion

We have audited the financial statements for the Parochial Church Council of Holy Sepulchre Cambrudge , for the year ended 31 December 2023 which comprise Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the PCC in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the members' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the PCC's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Members with respect to going concern are described in the relevant sections of this report.

Other information

The Members are responsible for the other information. The other information comprises the information included in the trustees' annual report , other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

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DocuSign Envelope ID: BD33677A-1DD0-4016-BC43-0E67D4B518F7

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF PAROCHIAL CHURCH COUNCIL OF HOLY SEPULCHRE CAMBRIDGE

Other information (continued)

We have nothing to report in this regard.

Matters on which we are to required to report by exception

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Charities Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of the Members

As explained more fully in the trustees’ responsibilities statement, the Members are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the members determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the PCC’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the PCC or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that act

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

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DocuSign Envelope ID: BD33677A-1DD0-4016-BC43-0E67D4B518F7

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF PAROCHIAL CHURCH COUNCIL OF HOLY SEPULCHRE CAMBRIDGE

Auditor’s responsibilities for the audit of the financial statements (continued)

We assessed the susceptibility of the PCC's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we;

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

Through the above procedures, we did not become aware of any actual or suspected non-compliance with laws and regulations. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identifiy during our audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilites. This description forms part of our auditors report

Use of our report

This report is made solely to the PCC's members, as a body in accordance with section 154 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the members those matters that we are required to state to them in an audit report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the PCC and the PCC's members as a body, for our audit work, for this report, or for the opinions we have formed.

Naomi Hedger (Senior Statutory Auditor) For and on behalf of Chater Allan LLP Chartered Accountants & Statutory Auditors 7 Quy Court Colliers Lane Stow-cum-Quy CB25 9AU

15 May 2024 Date:

Chater Allan LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

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DocuSign Envelope ID: BD33677A-1DD0-4016-BC43-0E67D4B518F7

PAROCHIAL CHURCH COUNCIL OF HOLY SEPULCHRE CAMBRIDGE STATEMENT OF FINANCIAL ACTIVITIES (Incorporating the Income and Expenditure Account) FOR THE YEAR ENDED 31 DECEMBER 2023

Note
Income from:
Donations and legacies
2(a)
Charitable Activities
2(b)
Investments
2(c)
Total Income
Expenditure on:
Charitable Activities
3
Total Expenditure
Net Income/(expenditure)
Other recognised gains/(losses)
Actuarial gains/(losses) on defined
benefit pension schemes
17
Net Movement in Funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted Designated Restricted
Total
Funds
Funds
Funds
2023
£
£
£
£
805,818
-
234,849
1,040,667
160,916
-
-
160,916
6,162
-
-
6,162
972,896
-
234,849
1,207,745
1,022,682
-
233,278
1,255,960
1,022,682
-
233,278
1,255,960
(49,786)
-
1,571
(48,215)
-
-
-
-
(49,786)
-
1,571
(48,215)
1,027,258
262,357
1,250
1,290,865
977,472
262,357
2,821
1,242,650		 Total
2022
£
1,516,071
129,865
1,154
1,647,090
1,185,805
1,185,805
461,285
-
461,285
829,580
1,290,865

Income and expenditure is derived solely from continuing operations.

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DocuSign Envelope ID: BD33677A-1DD0-4016-BC43-0E67D4B518F7

PAROCHIAL CHURCH COUNCIL OF HOLY SEPULCHRE CAMBRIDGE BALANCE SHEET AS AT 31 DECEMBER 2023

Note
FIXED ASSETS:
Tangible Fixed Assets
7
CURRENT ASSETS:
Stock
8
Debtors
9
Cash at Bank and In Hand
LIABILITIES:
Creditors: Amounts falling due within one year
10
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
PENSION PROVISION
17
NET ASSETS
THE FUNDS OF THE CHARITY:
Unrestricted Funds
12
Designated Funds
13
Restricted Funds
14
TOTAL CHARITY FUNDS		 2023
£
£
933,681
3,919
34,727
416,729
455,375
(146,406)
308,969
1,242,650
-
1,242,650
977,472
262,357
1,239,829
2,821
1,242,650		 £
£
935,850
3,463
48,435
359,945
411,843
(56,828)
355,015
1,290,865
-
1,290,865
1,027,258
262,357
1,289,615
1,250
1,290,865
2022

Approved by the Parochial Church Council and signed on its behalf by:

29 April 2024 Rev Alasdair Paine (Chairman)

25 April 2024 Matthew Baker (Treasurer)

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DocuSign Envelope ID: BD33677A-1DD0-4016-BC43-0E67D4B518F7

PAROCHIAL CHURCH COUNCIL OF HOLY SEPULCHRE CAMBRIDGE STATEMENT OF CASH FLOWS AS AT 31 DECEMBER 2023

Note
Cash used in operating activities
1
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of tangible assets
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in the reporting
period
2
Cash and cash equivalents at the beginning of the
reporting period
Cash and cash equivalents at the end of the reporting
period		 2023
£
50,622
6,162
-
6,162
56,784
359,945
416,729		 2022
£
427,425
1,154
(425,000)
(423,846)
3,579
356,366
359,945

NOTES TO THE CASH FLOW STATEMENT

1. Reconciliation of net income for the year to net cash flow from operating activities

Net movement in funds
Adjustments for:
Depreciation charges
Dividends, interest and rents from investments
Decrease/(Increase) in stocks
Decrease/(Increase) in debtors
Increase/(Decrease) in creditors
Increase/(Decrease) in provisions
Net cash inflow (outflow) from operating activities
2. Analysis of cash and cash equivalents
Cash at bank and in hand		 At 1
January
2023
£
359,945
359,945		 2023
£
(48,215)
2,169
(6,162)
(456)
13,708
89,578
-
50,622
Cash
flow
£
56,784
56,784		 2022
£
461,285
2,421
(1,154)
(626)
(12,758)
(20,743)
(1,000)
427,425
At 31
December
2023
£
416,729
416,729

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DocuSign Envelope ID: BD33677A-1DD0-4016-BC43-0E67D4B518F7

PAROCHIAL CHURCH COUNCIL OF HOLY SEPULCHRE CAMBRIDGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 STATEMENT OF ACCOUNTING POLICIES

The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, together with applicable accounting standards and the Charities SORP (FRS 102). The financial statements comprise the accounts of the PCC.

The presentation currency is pound sterling. The financial statements have been prepared under the historical cost convention except for the valuation of 1 Pretoria Road, as explained in Note 7 below.

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

Funds

General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted. The accounts 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.

Restricted funds represent amounts given to the PCC where the donor has specified that the funds are spent on a particular purpose.

Interest on designated and restricted funds is applied to general funds and not added to those designated and restricted funds. -

Income

Voluntary income

Gift Aid donations are administered directly by the church and the Gift Aid is recognised as income at the same time that the donation is recognised-1 as income, which is when the donation is received. (1) Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the ultimate receipt is virtually certain, and the monetary value can be measured reliably.

Amounts charged and raised at church events, such as money for food provided, and sale of books at the church bookstall, are recognised as income. Associated expenditure is recognised separately under Resources Expended.

Gifts in kind

Gifts in kind are accounted for at a reasonable estimate of their value at the time of gift to the PCC, if material and feasible, or else at the amount actually realised from their disposal.

Rental income

Rental income from the letting of church premises is recognised when the rent is due in accordance with the arrangement, lease or licence.

Income from investments

Dividends and interest are accounted for when receivable.

Expenditure

Liabilities

Liabilities are recognised as soon as the legal or constructive obligation arises.

Grants payable

These are recognised in the accounts when a commitment has been made externally and there are no pre-conditions still to be met for entitlement to the grant which remain within the control of the PCC.

Governance costs

These include the costs of the preparation and audit of the statutory accounts and the cost of any legal advice to trustees on governance or constitutional matters.

Fixed Assets

Consecrated land and buildings and movable church furnishings

Consecrated and benefice property is excluded from the accounts by Section 10(2) (a) and (c) of the Charities Act 2011. No value is placed on moveable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or benefice buildings and moveable church furnishings, whether maintenance or improvement, is written off as expenditure in the Statement of Financial Activities and separately disclosed.

11

DocuSign Envelope ID: BD33677A-1DD0-4016-BC43-0E67D4B518F7

PAROCHIAL CHURCH COUNCIL OF HOLY SEPULCHRE CAMBRIDGE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Fixed Assets (continued)

Capitalisation of tangible fixed assets

Tangible fixed assets are capitalised if they will be used for more than one year and cost over £500.

Freehold Land and Buildings

Freehold Land and Buildings are valued at historical cost (except for the valuation of 1 Pretoria Road in Note 7 below). No depreciation is provided on Freehold Land and Buildings due to their high residual value.

Depreciation of tangible fixed assets

Depreciation is provided on all fixed assets on a straight line basis calculated to write off the cost over their expected useful lives, as follows:

Fixtures and fittings 5 - 10 years straight line Computer equipment 3 years straight line

Leasing and Hire Purchase Commitments

Assets held under finance leases are capitalised at the present value of the minimum lease payments and are depreciated over the shorter of the lease term and the useful life of the asset concerned. Interest is recognised in the Statement of Financial Activities over the period of the lease so as to produce a constant periodic rate of charge on the balance of the capital repayments outstanding.

Assets held under hire purchase contracts are capitalised in the balance sheet and are depreciated over the useful life of the asset concerned. The interest element of the rental obligations is recognised in the Statement of Financial Activities so as to produce a constant periodic rate of charge on the balance of the capital repayments outstanding.

Lease payments under operating leases, where substantially all the risks and benefits remain with the lessor, are charged as expenses in the periods in which they are incurred.

Stock

Stock is books held for sale on the church bookstall. It is valued at the lower of cost or net realisable value.

Debtors

Amounts owing to the PCC at 31 December in respect of fees, rents or other income, less provision for amounts that may prove uncollectable, are shown as other debtors.

Creditors and provisions

Creditors and provisions are recogised where the PCC has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Going Concern

The Trustees have a reasonable expectation that the PCC has adequate resources to continue in operational existence for the foreseeable future and the PCC is well placed to manage its operating risks successfully despite the current uncertain economic outlook. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

Pension Costs

One member of staff is a member of the Church of England Funded Pension Scheme, a defined benefits scheme. Contributions payable to this scheme, less deficit recovery payments, are charged to the Statement of Financial Activities account so as to spread the cost of the pension over the employee's expected working life. The pension charge is calculated on the basis of actuarial advice. These contributions are invested separately from the course's assets. Under Section 28 of FRS 102 provision is made for agreed deficit recovery payments.

Taxation

The PCC is a charity and as such is not liable to taxation.

Volunteers

The value of voluntary help received is not included in the accounts but is described in the trustees' annual report.

12

DocuSign Envelope ID: BD33677A-1DD0-4016-BC43-0E67D4B518F7

PAROCHIAL CHURCH COUNCIL OF HOLY SEPULCHRE CAMBRIDGE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

2 INCOME

Unrestricted
Funds
£
(a) Donations and legacies
Standing Orders
728,758
Gifts
70,789
Gifts in kind
-
Staff Support
-
Legacies
6,271
805,818
(b) Charitable activities
Church Life
27,994
Events
46,523
Property Letting
82,081
Bookstall
1,434
Fees, Royalties and other Honoraria
2,884
StAG Room Hire
-
160,916
(c) Investments
Bank Interest
6,162
6,162
Total
972,896		 Designated
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Restricted
Funds
£
-
82,839
-
152,010
-
234,849
-
-
-
-
-
-
-
-
-
234,849		 Total Funds
2023
2022
£
£
728,758
692,362
153,628
161,599
-
17,000
152,010
171,653
6,271
473,457
1,040,667
1,516,071
27,994
18,708
46,523
35,523
82,081
70,751
1,434
1,646
2,884
2,437
-
800
160,916
129,865
6,162
1,154
6,162
1,154
1,207,745
1,647,090

13

DocuSign Envelope ID: BD33677A-1DD0-4016-BC43-0E67D4B518F7

PAROCHIAL CHURCH COUNCIL OF HOLY SEPULCHRE CAMBRIDGE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

3 EXPENDITURE ON CHARITABLE ACTIVITIES

Unrestricted
Funds
£
(a) Grants (Note 16)
UK Mission
50,503
World Mission
46,372
Gift Day
-
Ministry Share - Church of England Evangelical
Council Ephesians Fund
99,935
Other
-
196,810
(b) Direct Costs
Ministry Share - Ely Diocesan Board of Finance
12,908
Ministry Share - Accrued for future use
16,239
General Ministry
49,595
Hub Workers
62,322
Church Management and Administration
76,065
International Workers
82,000
Associate Vicar (Students) and Student Workers
49,314
Children's and Youth Workers
46,495
Staff Expenses
31,207
Church Life
68,274
Events
46,652
Bookstall
1,741
Church Utilities and Church Maintenance
76,016
Depreciation
2,169
Rent in kind
-
Staff Housing Costs
171,875
792,872
(c) Support Costs - Administration
28,200
(d) Governance - Audit
4,800
33,000
Total
1,022,682		 Designated
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Restricted
Funds
£
-
-
66,256
-
15,012
81,268
-
-
-
12,773
-
-
121,420
-
-
-
-
-
-
-
-
17,817
152,010
-
-
-
233,278		 Total Funds
2023
2022
£
£
50,503
46,725
46,372
42,758
66,256
68,656
99,935
-
15,012
18,340
278,078
176,479
12,908
120,753
16,239
-
49,595
61,049
75,095
86,912
76,065
83,068
82,000
80,766
170,734
173,742
46,495
35,251
31,207
29,709
68,274
61,305
46,652
37,947
1,741
2,187
76,016
68,914
2,169
2,421
-
17,000
189,692
119,767
944,882
980,791
28,200
25,235
4,800
3,300
33,000
28,535
1,255,960
1,185,805

The PCC has one charitable activity which is church-based ministry.

4 TOTAL EXPENDITURE

Charitable Activities:
Grants
Church Activities Direct
Church Activities Support		 Staff
Costs
£
-
531,191
-
531,191		 Depreciation
Other
Costs
£
£
-
278,078
2,169
411,522
-
33,000
2,169
722,600		 Total
2023
£
278,078
944,882
33,000
1,255,960		 Total
2022
£
176,479
980,791
28,535
1,185,805

14

DocuSign Envelope ID: BD33677A-1DD0-4016-BC43-0E67D4B518F7

PAROCHIAL CHURCH COUNCIL OF HOLY SEPULCHRE CAMBRIDGE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

5 STAFF COSTS

Wages and Salaries
Social Security Costs
Pension Costs
During the year the PCC employed staff as shown in Note 3.
The average number of staff during the year was:		 2023
£
369,494
31,924
54,166
455,584
2023
16		 2022
£
379,605
36,483
70,387
486,475
2022
16

During the year remuneration received by key management personnel totalled £145,160 (2022 - £150,693). These are the Senior Staff who are on the PCC's payroll. No employee earned more than £60,000 in the year (2022 - none).

6 PENSION COSTS

The PCC operates a defined contribution pension scheme for all directly employed members of staff, apart from one member of staff who is in the Church of England Pension Scheme. The assets of the scheme are held separately from those of the PCC in an independently administered fund. The pension cost charge represents contributions payable by the PCC to the fund and amounted to £47,115 (2022 - £61,121). At the year end there were outstanding pension contributions of £3,880 (2022 - £6,028) that were paid in January 2024.

7 FIXED ASSETS FOR USE BY THE PCC

Freehold Land
Tangible Fixed Assets
& Buildings
£
Gross Book Value As at 1 January 2023
969,993
Additions
-
As at 31 December 2023
969,993
Depreciation
As at 1 January 2023
42,585
Charge for year
-
As at 31 December 2023
42,585
Net Book Value
As at 31 December 2023
927,408
Net Book Value
As at 31 December 2022
927,408		 Fixtures &
Fittings
£
161,005
-
161,005
152,563
2,169
154,732
6,273
8,442		 Total
£
1,130,998
-
1,130,998
195,148
2,169
197,317
933,681
935,850

The Freehold Land and Buildings comprise the houses located at 1 Pretoria Road, 64 St Albans Road and 19 Acrefield Drive. The gross book value of 1 Pretoria Road is £212,750, which is £200,000 estimated for the property when it was let in 1997, plus £12,750 of property improvements, and is considered a fair estimate of the value in use of the property. Under FRS 102 section 35.10 (c) the fair value is treated as deemed cost. The historical cost of 1 Pretoria Road was £6,000 in 1967, hence the revaluation reserve of £194,000 in Note 12 below. The PCC obtained an open market valuation of between £950,000 and £1,050,000 for information purposes from Cheffins in January 2023. The gross book value of 64 St Albans Road is its cost in 2004 of £318,757 plus property improvements of £13,486. The gross book value of 19 Acrefield Drive is £425,000, which is its open market valuation from Cheffins when received via a legacy in July 2022. Cheffins confirmed that open market valuation remained the same in January 2023.

The fixed assets of the PCC are all used for charitable purposes.

8 STOCK

Books for re-sale 2023
£
3,919		 2022
£
3,463

15

DocuSign Envelope ID: BD33677A-1DD0-4016-BC43-0E67D4B518F7

PAROCHIAL CHURCH COUNCIL OF HOLY SEPULCHRE CAMBRIDGE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

9 DEBTORS

Other debtors
Gift Aid recoverable
Prepayments		 2023
£
425
18,400
15,902
34,727		 2022
£
12,886
13,651
21,898
48,435

10 CREDITORS: amounts falling due within one year

Trade creditors
Accruals
Deferred income
Tax and other social security costs
Pension contributions		 2023
£
15,925
100,437
18,375
7,789
3,880
146,406		 2022
£
10,367
28,934
5,513
5,986
6,028
56,828

11 OPERATING LEASE COMMITMENTS

Amounts payable within one year
Total minimum lease payments
Lease payments of £38,000 have been recognised as an expense for the year.
Amounts payable within one year
Amounts payable between one and five years
Total minimum lease payments		 2023
2022
£
£
21,000
27,500
21,000
27,500
2023
2022
£
£
364
4,368
-
364
364
4,732
Office Equipment
Land and Buildings

Lease payments of £4,368 have been recognised as an expense for the year.

12 UNRESTRICTED FUNDS

Balance at 1 January 2023
Incoming Resources
Resources Expended
Balance at 31 December 2023		 Revaluation
Reserve
£
194,000
-
-
194,000		 PCC
General
£
833,258
972,896
(1,022,682)
783,472		 Total
£
1,027,258
972,896
(1,022,682)
977,472

16

DocuSign Envelope ID: BD33677A-1DD0-4016-BC43-0E67D4B518F7

PAROCHIAL CHURCH COUNCIL OF HOLY SEPULCHRE CAMBRIDGE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

13 DESIGNATED FUNDS

Balance at 1 January 2023
Balance at 31 December 2023		 Ministry
Fund
£
47,000
47,000		 Contingency
Fund
£
15,357
15,357		 Restoration
Fund
£
200,000
200,000		 Total
£
262,357
262,357

Ministry Fund

For the funding of gospel initiatives as authorised by the PCC.

Contingency Fund

This is a legacy received from a previous vicar of the Church and a legacy received in May 2014 and is considered as a contingency.

Restoration Fund

For restoration and repairs of any Church buildings.

14 RESTRICTED FUNDS

Balance at 1 January 2023
Voluntary Income
Charitable Expenditure
Balance at 31 December 2023		 Jesus
Lane
Trust
£
-
152,010
(152,010)
-		 Specific
Gifts
Fund
£
1,250
9,708
(10,012)
946		 Vicar's
Discretionary
Fund
£
-
6,875
(5,000)
1,875		 Gift

Day
2022
£
-
6,562
(6,562)
-		 Gift
Day
2023
£
-
59,694
(59,694)
-		 Total
StAG
Funds
£
1,250
234,849
(233,278)
2,821

Jesus Lane Trust

Grants from the Jesus Lane Trust which are used for paying the salaries and part of the housing costs of the 5 Student Workers and one third of the salary of the Hub Pastor.

Specific Gifts Fund

Gifts to the church which are nominated for a specific recipient.

Vicar's Discretionary Fund

These are discretionary payments to persons in need and are covered by specific gifts received for this purpose.

Gift Day 2022

A one-off appeal was held in November 2022 to raise funds for Anglican International Development (£20,000), iServe Africa UK Trust (£15,000) and The Matthew Ministry (the remainder).

Gift Day 2023

A one-off appeal was held in November 2023 to raise funds for iServe Africa UK Trust (£15,000), Gospel Ministry Support Trust (£20,000) and The Matthew Ministry (the remainder).

17

DocuSign Envelope ID: BD33677A-1DD0-4016-BC43-0E67D4B518F7

PAROCHIAL CHURCH COUNCIL OF HOLY SEPULCHRE CAMBRIDGE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

15 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed Assets
Net Current Assets
Fund Balance		 UnrestrictedDesignated
Restricted
funds
funds
funds
£
£
£
933,681
-
-
43,791
262,357
2,821
977,472
262,357
2,821		 Total
£
933,681
308,969
1,242,650

16 ANALYSIS OF GRANTS

External giving is directed through the World Mission and UK Mission Groups, the annual Gift Day, and church members make gifts for specific beneficiaries.

World Mission Group
Arab World Ministries
Crosslinks
France Mission Trust
Frontiers
Mongolian Union Bible Society
Univerzitni Krestanske Hnuti
Wycliffe Bible Translators
Individuals
Gift Day 2022
The Matthew Ministry
Gift Day 2023
Iserve Africa UK Trust
Gospel Ministry Support Trust
The Matthew Ministry		 £
UK Mission Group
6,800
Gospel Ministry Support Trust for
8,800
Terrington St Clement Parish Church
1,500
Loughborough Uni Christian Union
6,600
Oak Hill College
4,400
Renew Conference
4,400
St John's Hebburn
4,400
St Philemon's Church Toxteth
9,472
St Thomas Church Kilnhurst
46,372
UCCF
Wellfield Church
Individuals
6,562
Others
15,000
Specific Gifts (directed by donor)
20,000
Vicar's Discretionary Fund grant
24,694
Church of England Evangelical Council
59,694
Ephesians Fund *		 £
13,500
1,000
3,333
6,000
6,000
3,250
4,000
5,000
6,250
2,170
50,503
10,012
5,000
99,935
114,947

17 PENSION PROVISION

The PCC is responsible for pension costs one member of staff (2022 - 1) who is a member of the Church of England Funded Pension Scheme. The Ely Diocesan Board of Finance is responsible for pension costs for 3 members of staff (2022 - 3) who are in the same Scheme. The PCC's liability is as follows:

Balance as at 1 January
Deficit contributions paid
Interest cost
Remaining change to the balance sheet liability
(in Statement of Financial Activities)
Balance as at 31 December		 2023
£
-
-
-
-		 2022
£
2,000
(1,000)
-
(1,000)
-

The charity has entered into deficit recovery plans in respect of the Church of England Funded Pension Scheme: see Note 18.

18

DocuSign Envelope ID: BD33677A-1DD0-4016-BC43-0E67D4B518F7

PAROCHIAL CHURCH COUNCIL OF HOLY SEPULCHRE CAMBRIDGE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

18 PENSION PROVISION

Holy Sepulchre PCC (Cambridge) participates in the Church of England Funded Pensions Scheme for stipendiary clergy, a defined benefit pension scheme. This scheme is administered by the Church of England Pensions Board, which holds the assets of the schemes separately from those of the Responsible Bodies.

Each participating Responsible Body in the scheme pays contributions at a common contribution rate applied to pensionable stipends.

The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. It is not possible to attribute the Scheme’s assets and liabilities to each specific Responsible Body, and this means contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the Statement of Financial Activities in the year are contributions payable towards benefits and expenses accrued in that year, which were £7,051 in 2023 (2022 £9,266), plus any figures arising from contributions in respect of the Scheme's deficit (see below). The 2021 valuation showed the Scheme to be fully funded and as such in 2023, following the valuation results being agreed, the deficit contributions paid were £Nil (2022: £1,000).

A valuation of the Scheme is carried out once every three years. The most recent Scheme valuation completed was carried out at as 31 December 2021. The valuation revealed a surplus of £560m, based on assets of £2,720m and a funding target of £2,160m, assessed using the following assumptions:

Following finalisation of the 31 December 2021 valuation, deficit contributions ceased with effect from 1 January 2023, since the Scheme was fully funded.

The deficit recovery contributions under the recovery plan in force at each 31 December were as follows:

Percentage of pensionable stipends: 31 Dec 2023 31 Dec 2022 31 Dec 2021

Deficit repair contributions

Nil Nil

7.1% payable from Jan 2021 to Dec 2022

An interim reduction to deficit contributions to 3.2% of pensionable stipends was made with effect from April 2022, and remained in place until December 2022.

For senior office holders, pensionable stipends are adjusted in the calculations by a multiple, as set out in the Scheme’s rules.

Section 28.11A of FRS 102 requires agreed deficit recovery payments to be recognised as a liability. However, as there are no agreed deficit recovery payments from 1 January 2023 onwards, the balance sheet liability as at 31 December 2023 is nil. The movement in the balance sheet liability over 2023 and over 2022 is set out in the table below.

Balance sheet liability at 1 January
Deficit contributions paid
Interest cost (recognised in Statement of Financial Activities)
Remaining change to the balance sheet liability*
(recognised in Statement of Financial Activities)
Balance sheet liability at 31 December		 2023
£
-
-
-
-
-		 2022
£
2,000
(1,000)
-
(1,000)
-

This liability represents the present value of the deficit contributions agreed as at the accounting date and has been valued using the following assumptions. No assumptions are needed for December 2022 as there are no agreed deficit recovery payments going forward. No price inflation assumption was needed for December 2021 since pensionable stipends for the remainder of the recovery plan were already known.

Dec 2023 Dec 2022 Dec 2021
Discount rate n/a n/a 0.0% pa
Price inflation n/a n/a n/a
Increase to total pensionable payroll n/a n/a -1.5% pa

The legal structure of the scheme is such that if another Responsible Body fails, Holy Sepulchre PCC (Cambridge) could become responsible for paying a share of that Responsible Body’s pension liabilities.

19

DocuSign Envelope ID: BD33677A-1DD0-4016-BC43-0E67D4B518F7

PAROCHIAL CHURCH COUNCIL OF HOLY SEPULCHRE CAMBRIDGE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

19 STATEMENT OF FINANCIAL ACTIVITIES DETAIL FOR YEAR ENDED 31 DECEMBER 2022

Income from:
Donations and legacies
Charitable Activities
Investments
Total Income
Expenditure on:
Charitable Activities
Total Expenditure
Net Income/(expenditure)
Transfer Between Funds:
Net Movement in Funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted Designated
Funds
Funds
£
£
1,257,422
-
129,865
-
1,154
-
1,388,441
-
927,156
-
927,156
-
461,285
-
-
-
461,285
-
565,973
262,357
1,027,258
262,357		 Restricted
Funds
£
258,649
-
-
258,649
258,649
258,649
-
-
-
1,250
1,250		 Total
2022
£
1,516,071
129,865
1,154
1,647,090
1,185,805
1,185,805
461,285
-
461,285
829,580
1,290,865

20 RELATED PARTY TRANSACTIONS

The Jesus Lane Trust has trustees in common with the PCC (currently Rev A Paine, and until June 2023, also Prof P Robinson and Mr P Jani). The Jesus Lane Trust made a grant of £152,010 (2022 - £171,653) to the PCC, as shown in Note 14, for the salaries and part of the housing costs of 5 Student Workers and one third of the Hub Pastor. The Jesus Lane Trust also reimbursed the PCC for expenses incurred for Ministry Interns of £19,357 (2022 - £15,339). At the year end, The Jesus Lane Trust owed £425 (2022 - £1,267) to the PCC.

The PCC employed Mr J Townsend, a close relative of the trustee Mr C Townsend, as Youth Worker until August 2023. The PCC employed Mrs E Brereton, the spouse of the trustee Dr L Brereton, as Assistant Administrator until July 2023. Mr J Townsend was employed on the same terms and pay scale as equivalent pastoral employees, and Mrs E Brereton was employed on the same terms and pay scale as equivalent administrative employees.

Two trustees (Mrs S Robinson and Mr C Townsend) are trustees of the Ely Diocesan Board of Finance. The PCC paid a Ministry Share to the Ely Diocesan Board of Finance as disclosed in Note 3b. The Ely Diocesan Board of Finance funds the cost of Rev A Paine and Rev J Percival and recharges the cost of Rev R Strachan to the PCC. By virtue of his role, Rev R Strachan is an ex officio member of the PCC. During the year 3 (2022 - 3) trustees, in their capacity as pastoral staff members, were reimbursed for expenses incurred for travel and hospitality of £1,854 (2022 - £891). No other trustees receive any remuneration.

As detailed in Note 16, a grant of £nil (2022 - £20,000) was made to Anglican International Development, a charity which employs Mr S Tustin as Executive Officer. He is the spouse of Mrs F Tustin, a trustee.

During the year PCC members and their close family members donated a total of £109,585 (2022 - £108,760) to the PCC.

20