Trustees REPORT
In 2024 receipts from the offertory dropped by nearly 25%. This was partly offset by an increase in fundraising and donations, due to receiving 2 years worth of donations from the Potts Trust (no donation having been made in 2023.) Interest on investments increased, but our capital will be diminishing as the accounts are likely to show a loss for the foreseeable future.
Fortunately the move to the Mersey Synod has resulted in a reduction of nearly £11,000 in the Ministry & Mission payment. There are no Synod or Missional Partnership Levies. This was of course more than offset by the costs of employing an Outreach Worker and an Administrator. Church running costs were also up, largely due to increased energy costs.
During the year £200,000 was invested with Investec (since taken over by Rathbones), a company recommended by the Synod. At the end of the year this had increased in value by £9,109. The balance of the sale price for the schoolrooms, which was withheld for 18 months to cover any costs that might occur in connection with unknown burials, was paid over in August - £32,154 including interest.
In the short term the finances are healthy enough, but if losses continue at the present rate the long term future is less certain.
Sheet1
| MACCLESFIELD UNITED REFORMED CHURCH | MACCLESFIELD UNITED REFORMED CHURCH | MACCLESFIELD UNITED REFORMED CHURCH | ||||
|---|---|---|---|---|---|---|
| FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 | ||||||
| RECEIPTS AND PAYMENTS ACCOUNT | ||||||
| Note | Unrestricted | Designated | Restricted | 2024 | 2023 | |
| Funds £ | Funds £ | Funds £ | Total £ | Total £ | ||
| RECEIPTS | ||||||
| Offerings | 24,292 | 24,292 | 31,215 | |||
| Fund raisingand donations | 14,023 | 14,023 | 8,288 | |||
| Monies raised for outside causes | 3 | 2,503 | 2,503 | 2,394 | ||
| Gift Aid tax repayments | 5,104 | 112 | 5,216 | 8,123 | ||
| Property– church/hall users | 4 | 24,297 | 24,297 | 23,970 | ||
| Interest on investments | 5,749 | 5,749 | 3,896 | |||
| Synod Grant | 500 | 500 | ||||
| Other | 100 | 100 | ||||
| Total receipts | 74,065 | 0 | 2,615 | 76,680 | 77,886 | |
| PAYMENTS | ||||||
| Ministry& Mission Fund | 28,884 | 28,884 | 39,780 | |||
| Outreach | 19,111 | 19,111 | 0 | |||
| Administrator | 8,609 | 8,609 | 0 | |||
| Church runningcosts | 5 | 38,688 | 38,688 | 26,791 | ||
| Support of outside causes | 6 | 2,544 | 2,544 | 2,767 | ||
| Maintenance of church buildings | 7 | 7,055 | 7,055 | 10,786 | ||
| Other | 227 | 2 | 229 | |||
| Totalpayments | 102,574 | 0 | 2,546 | 105,120 | 80,124 | |
| NET RECEIPTS(PAYMENTS) | (28,509) | 0 | 69 | (28,440) | (2,238) | |
| CASH FUNDS b/fwd1 January | 312,567 | 312,567 | 125,530 | |||
| Proceeds-sale of schoolrooms | 32,154 | 32,154 | 189,275 | |||
| Increase in value of investments | 9,109 | 9,109 | ||||
| CASH FUNDS c/fwd31 December | 325,321 | 0 | 69 | 325,390 | 312,567 | |
| STATEMENT OF ASSETS AND LIABILITIES | ||||||
| Monetary assets | ||||||
| Bank current account | 10,752 | 69 | 10,821 | 218,568 | ||
| Deposit account | 50 | 50 | 8,719 | |||
| Epworth cashplus account | 105,410 | 105,410 | 85,280 | |||
| Rathbones investment | 209,109 | 209,109 | ||||
| Total monetary assets | 325,321 | 0 | 69 | 325,390 | 312,567 | |
| Other assets | ||||||
| Gift Aid recoverable £ 5414 | ||||||
| Epworth investment(formerlyManse Fund)£80,878 | ||||||
| Assets used for churchpurposes | ||||||
| Buildings under statutorytrusts | Church buildings | |||||
| Churchcontents | Furnishings and equipment |
Page 1
| MACCLESFIELD UNITED REFORMED CHURCH | MACCLESFIELD UNITED REFORMED CHURCH | MACCLESFIELD UNITED REFORMED CHURCH | ||||
|---|---|---|---|---|---|---|
| FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 | ||||||
| RECEIPTS AND PAYMENTS ACCOUNT | ||||||
| Note | Unrestricted | Designated | Restricted | 2024 | 2023 | |
| Funds £ | Funds £ | Funds £ | Total £ | Total £ | ||
| RECEIPTS | ||||||
| Offerings | 24,292 | 24,292 | 31,215 | |||
| Fund raising and donations | 14,023 | 14,023 | 8,288 | |||
| Monies raised for outside causes |
3 | 2,503 | 2,503 | 2,394 | ||
| Gift Aid tax repayments | 5,104 | 112 | 5,216 | 8,123 | ||
| Property–church/hall users | 4 | 24,297 | 24,297 | 23,970 | ||
| Interest on investments | 5,749 | 5,749 | 3,896 | |||
| Synod Grant | 500 | 500 | ||||
| Other | 100 | 100 | ||||
| Total receipts | 74,065 | 0 | 2,615 | 76,680 | 77,886 | |
| PAYMENTS | ||||||
| Ministry & Mission Fund | 28,884 | 28,884 | 39,780 | |||
| Outreach | 19,111 | 19,111 | 0 | |||
| Administrator | 8,609 | 8,609 | 0 | |||
| Church running costs | 5 | 38,688 | 38,688 | 26,791 | ||
| Support of outside causes | 6 | 2,544 | 2,544 | 2,767 | ||
| Maintenance of church buildings | 7 | 7,055 | 7,055 | 10,786 | ||
| Other | 227 | 2 | 229 | |||
| Total payments | 102,574 | 0 | 2,546 | 105,120 | 80,124 | |
| NET RECEIPTS (PAYMENTS) | (28,509) | 0 | 69 |
(28,440) |
(2,238) | |
| CASH FUNDS b/fwd1 January | 312,567 | 312,567 | 125,530 |
|||
| Proceeds-sale of schoolrooms | 32,154 | 32,154 | 189,275 |
|||
| Increase in value of investments | 9,109 | 9,109 | ||||
| CASH FUNDS c/fwd31 December | 325,321 | 0 | 69 | 325,390 | 312,567 | |
| STATEMENT OF ASSETS AND LIABILITIES | ||||||
| Monetary assets | ||||||
| Bank current account | 10,752 | 69 | 10,821 |
218,568 | ||
| Deposit account | 50 | 50 | 8,719 | |||
| Epworth cash plus account | 105,410 | 105,410 | 85,280 | |||
| Rathbones investment | 209,109 | 209,109 | ||||
| Total monetary assets | 325,321 | 0 | 69 | 325,390 | 312,567 | |
| Other assets | ||||||
| Gift Aid recoverable £ 5414 | ||||||
| Epworth investment (formerly Manse Fund) £80,878 | ||||||
| Assets used for church purposes | ||||||
| Buildings under statutory trusts | Church buildings | |||||
| Church contents | Furnishings and equipment | |||||
| MACCLESFIELD UNITED REFORMED CHURCH | MACCLESFIELD UNITED REFORMED CHURCH | MACCLESFIELD UNITED REFORMED CHURCH | MACCLESFIELD UNITED REFORMED CHURCH | ||||
|---|---|---|---|---|---|---|---|
| FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 | |||||||
| NOTES | |||||||
| 1 ACCOUNTING POLICIES | |||||||
| The financial statements have been prepared in accordance with the Charities Act 1993 Section 42 (3), using | |||||||
| the Receipts and Payments basis available to small charities, and the United Reformed Church guidance. | |||||||
| 2 FUND ACCOUNTING | |||||||
| Unrestricted Fundsmay be used by the church for any of its ordinary purposes. | |||||||
| Restricted Funds representincomewhich may be expended only onthoserestricted objects providedinthe | |||||||
| terms ofa trust orbequest,ordonations orgrantsreceived or invitedfora specific purpose. Thesefunds can | |||||||
| only be spent on the specific purpose for which they were given. Any balance remaining unspent must be | |||||||
| carried forward as a balance on that fund for | future expenditure on that specific purpose, or returned; it cannot | ||||||
| be absorbed into general funds. | |||||||
| Fund name & purpose: | Balance | Receipts in | Payments in |
Balances | |||
| b/fwd £ | year £ | year £ | c/fwd £ | ||||
| Commitment for Life (incl Gift Aid) | (113) | 485 | 418 | (46) | |||
| Other outside causes (incl Gift Aid) | 10 | 2,130 | 2,126 | 14 | |||
| Brownies | 180 | 180 | |||||
| Wayfarers | 265 | 265 | |||||
| Traidcraft | 141 | 141 | |||||
| Guild | 111 | 111 | |||||
| Babies & Toddlers | 172 | 172 | |||||
| Totals for restricted funds | 766 | 2,615 | 2,544 | 837 | |||
| **3 MONIES RAISED FOR ** | OUTSIDECAUSES | ||||||
| Unrestricted | Designated | Restricted | 2024 | 2023 | |||
| Funds £ | Funds £ | Funds £ | Total £ | Total £ | |||
| Commitment for Life | 373 | 373 | 597 | ||||
| Breadline | 1,430 | 1,430 | 1135 | ||||
| Shelter | 284 | 284 | 217 | ||||
| Bible Society | 192 | 192 | 55 | ||||
| Christian Aid | 224 | 224 | 220 | ||||
| Other charities | 170 | ||||||
| 0 | 0 | 2,503 | 2,503 | 2,394 | |||
| 4 PROPERTY INCOME | |||||||
| Lettings | 24,097 | 24,097 | 23,220 | ||||
| Weddings andFunerals | 200 | 200 | 750 | ||||
| Total property income |
24,297 | 24,297 | 23,970 | ||||
| FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 | FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 | FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 | ||||
|---|---|---|---|---|---|---|
| NOTES– continued | Unrestricted | Designated | Restricted | 2024 | 2023 | |
| Funds | Funds | Funds | Total | Total | ||
| 5 CHURCH RUNNING COSTS | £ | £ | £ | £ | ||
| Gas and electricity | 14,401 | 14,401 | 5,899 | |||
| Insurance | 4,742 | 4,742 | 3,440 | |||
| Water | 759 | 759 | 1,370 | |||
| Telephone | 725 | 725 | 605 | |||
| Stationery, advertising & photocopying |
2,948 | 2,948 | 2,574 | |||
| Licences and music | 1,689 | 1,689 | 1,060 | |||
| Worship expenses/gifts | 1,918 | 1,918 | 1,296 | |||
| Cleaning/caretaking | 11,506 | 11,506 | 10,547 | |||
| 38,688 | 0 | 0 | 38,688 | 26,791 | ||
| 6 SUPPORT OF OUTSIDE CAUSES | ||||||
| Commitment for Life | 418 | 418 | 708 | |||
| Breadline (Moldova) | 1,428 | 1,428 | 1,354 | |||
| Bible Society | 192 | 192 | 118 | |||
| Christian Aid | 232 | 232 | 215 | |||
| McMillan Cancer Care | 110 | |||||
| Shelter | 274 | 274 | 202 | |||
| Toilet Twinning | 60 | |||||
| Total support of outside causes | 0 | 2,544 | 2,544 | 2,767 | ||
| 7 MAINTENANCE OF CHURCH BUILDINGS | ||||||
| Electrical repairs | 1,737 | 1,737 | 2,966 | |||
| Plumbing repairs | 125 | 125 | 1,735 | |||
| Vermin control | 240 | 240 | 410 | |||
| Other property repairs & maintenance |
4,151 | 4,151 | 3,108 | |||
| Purchase of equipment | 802 | 802 | 4,529 | |||
| Total maintenance of buildings |
7,055 | 0 | 0 | 7,055 | 12,748 | |
| 8 MONETARY ASSETS | ||||||
| The church monies are not held in segregated accounts, but for the sake of this financial statement the | ||||||
| total of each account is allocated appropriately over the various funds. | ||||||
| 9 ASSETS USED FOR CHURCH PURPOSES | ||||||
| The church buildings are vested in URC Mersey Synod Trust | ||||||
| as Trustees and are not church assets. They are held for the benefit of Macclesfield URC in | ||||||
| accordance with the statutory trusts applicable to URC properties under the URC Acts. For insurance | ||||||
| purposes the church buildings are insured by the church for £5,056,109 | ||||||
| The church contents are insured by the church for £252,023 | ||||||
| From books and records provided, accounts found correct | ||||||
| R Fieldhouse, Independent Examiner | ||||||