The Parochial Church Council of the Ecclesiastical Parish of St Mary's Lutterworth Registered Charity 1134507 Annual Report For the year ending 31 December 2024 Administrative information ~~TT~~ in.
St. Mary’s Church is in Church Street, Lutterworth and is part of the Diocese of Leicester within the Church of England. The correspondence address is St. Mary’s Church, Church Gate, Lutterworth, Leicestershire, LE17 4AN
- During the year, the following served as members and trustees of the PCC:
| Rector | The Rev'd N G Byard | Chairman | |
|---|---|---|---|
| Curates | The Rev’d R E Lowdon | ||
| Reader Ministers | Mrs R Bilton | ||
| Dr P Kent | |||
| Church Wardens | Mrs P C Dean | ||
| Dr P Kent | |||
| Representatives on Deanery Synod |
Mr B Horrex | Associate Pastor | |
| Elected and co-opted Members |
Mrs R Byard | ||
| Mr J Dargie | To Jan‘24 | Deputy Churchwarden | |
| Mrs H Evans | |||
| Mr P W Gray | Treasurer | ||
| Mrs L Horrex | |||
| Mrs A Jones | |||
| Dr A Newmark | |||
| Mr S V Robbins | From Apr‘24 | ||
| Mrs C Topham |
Structure, governance and management
The Parochial Church Council is a corporate body established by the Church of England. It operates under the Parochial Church Council Powers Measure and is a Registered Charity, Number 1134507. St. Mary’s. Lutterworth is part of a Benefice, with St. Mary’s. Bitteswell and St. Mary’s. Cotesbach.
Members of the PCC are either ex-officio trustees (Rector, Curates, Pastoral Assistants and Reader Ministers); or elected as trustees by the Annual Parochial Church Meeting (APCM), or coopted to fill vacancies during the year in accordance with the Church Representation Rules.
The Church maintains an Electoral Roll of members, which stood in January 2024 at 155 and had decreased to 153 by December. All church attendees are encouraged to register on the Electoral Roll and are able to stand for election to the PCC. Trustees are initially provided with training material from the Charity Commission and thereafter are given on-the-job training by existing members or extra training by the Diocese. The full PCC met on seven occasions during the year for ordinary business. There were also an email vote about renewal of the mowing contract, an Away Day, and an extraordinary meeting to commission an Interim Management project for the foodbank.
The PCC Standing Committee ( required by law) consists of the Rector, Churchwardens, PCC Treasurer, PCC Secretary and one other member elected by PCC, and has power to transact PCC business between meetings, subject to any directions given by PCC. Other sub-committees were structured as needed to address various aspects of the work and life of the Church.
Objectives
The PCC carries out religious activities and provides services, buildings, facilities and open space for the public. It has the responsibility for pursuing the object of promoting in the ecclesiastical parish the whole mission of the Church (pastoral, evangelistic, social and ecumenical). It has responsibility for the maintenance of St. Mary's Church, No.3 Poplar Avenue and the Church Gate Centre. In exercising their duties, the trustees have had due regard to the Charity Commission Guidance on public benefit.
Page 1
St Mary's Lutterworth PCC Annual Report (continued) For the year ending 31 December 2024
Activities, Achievements & Performance
Having previously explored the Fellowship's existing customs and practices, and got to know the personnel who would be supporting him in conducting Church activities in accordance with the guidelines and laws set out by the Government and Church of England, the Rector continued to introduce his own working methods to the PCC and the wider Church family. He is becoming a familiar figure in the community, both to townsfolk and local leaders, not least to organisations with which the Rector has held a longstanding involvement.
The PCC provided regular in-person worship, some also live-streamed, with a range of Sunday, weekday and special services using traditional and contemporary liturgy, including Holy Communion, Prayer, Baptism, Marriage, Funeral and celebratory services.
Smaller groups, such as Alpha and Life Groups (for home Bible study) continued in-person meetings. The Church building is open on a daily basis for personal prayer and contemplation. The Church continued to teach and promote Christianity through meetings and events, and also carried out pastoral work including visiting the sick and bereaved. A Summer Club for younger children and a Youth Away Day for older ones were well attended and the Church hosts a termtime pre-school playgroup, which fosters relationships with the children's parents and carers in the community. The Church is proud of its historical connection with John Wycliffe, remembered as the 14[th] century translator of the Bible into English. Many visitors, especially those from overseas, seek out the Church for that reason.
The project to refurbish and repurpose the Church Gate Centre in the Church grounds to better serve the Church and the local community was completed early in 2024, and it was renamed the Churchgate Community Centre. Following the building’s formal opening, the foodbank has resumed in person sessions there, with a Citizens’ Advice worker also in attendance. A number of other Community Action activities are also held there, including Open Kitchen, a Veterans group, an Age Concern group and a District Council grants surgery. The building is also used for Church activities, such as youth groups and PCC meetings.
The whole mission of the Church is promoted by providing activities for senior citizens, adults, families and children and young people. Religious assemblies and other activities are provided in the local schools, and support is given to other charities. The Church Café is open five days a week, offering a warm space for social interaction with refreshments, where visitors can seek spiritual support, if wanted. Social action in the community was undertaken through the ongoing provision of a Foodbank, and other activities taking place in the Churchgate Community Centre. In addition, a very successful Open Christmas meal, with games and entertainment, was held in the Church building. The Church bells are rung regularly and traditional and contemporary forms of music are encouraged. Over 100 volunteers support activities and the regular worshipping community at December was about 310. The facilities are hired out for a range of community groups and events, and the PCC appoints school governors.
The Church maintains an office, open 10 to 12 Monday to Friday, and during the year employed a Church Administrator, a Premises Officer, an Associate Pastor, a Foodbank Manager, a Foodbank Operations Supervisor, a Foodbank Pathfinder Project Participation Worker, a Foodbank Pathfinder Project Learning Lead and a Community and Funding officer. In addition to the Rector, the Ministry Team included a Curate, an Associate Pastor, an ordinand, two licensed Reader Ministers and a Reader Minister in training.
Page 2
St Mary's Lutterworth PCC Annual Report (continued) For the year ending 31 December 2024
Our Vision as a Church
St Mary’s Lutterworth is part of the Wycliffe Fellowship that has the aim to be a unified team of congregations supporting one another in our mission to Worship God, to Grow as Disciples of Jesus and to Serve the Local and Wider Community.
-
Worshipping God - We aim to make a priority of focusing on God in our lives through participation in our weekly gatherings, in our personal prayer and our daily lives.
-
Growing Disciples - We aim to follow Jesus Christ with the whole of our lives and are committed to loving and serving each other.
-
Serving Community - We aim to be more than just Christians together on a Sunday, but to be a positive influence in our local community.
The PCC has placed particular emphasis on Children and Young People as we aim to be church for all ages, both now and into the future.
Joining these three aims is a ‘Hub’, which includes prayer and governance across the team. It encompasses governance through the PCC and its Fabric sub-committee. It also stewards our shared resources, including occasional offices, finance, church buildings and fabric, administration and pastoral care. These resources support and empower the whole team. The ‘Hub’ also includes the Church Office which provides administrative and practical support to the team.
Financial review
Total receipts on unrestricted and restricted funds were £214,383 (up £52,303) and £414,030 (up £63,583) respectively, and are detailed in the financial statements. The freehold house at 3 Poplar Avenue was let for the whole year (only 3 months last year), and the field off Boneham’s Lane continued to be let; together they provided a gross income of £13,809 unrestricted (up £9,933). Vision Sunday in 2024 brought in £161 unrestricted donations. Planned giving (including payroll and regular web site giving) raised £96,115 unrestricted (down £644) and £23,424 restricted (down £3,883) after tax recovery. Other notable items are grants (mostly restricted funds) totalling £169,775 (down £49,827) in support of the Lutterworth and Villages Foodbank, Buildings, Church management and Churchyard maintenance. In particular, grants for the Foodbank increased by £46,019 to £118,907, and a further £16,784 (£121,400 in 2023) was received towards the final refurbishment and running of the Church Gate Centre and running Community Action activities. £75,187 worth of food was donated for the Foodbank (down £11,215). Statutory fees due to the PCC at £7,866 decreased by £3,069. Collections in Church were up £946 at £3,860 and unplanned web site giving decreased to £5,417 from £6,300. Sundry donations increased from £14,576 to £44,245; this included two unrestricted donations of £10,000. Following completion of its refurbishment, the Church Gate Centre was re-valued; the £167,000 increase was treated as other incoming resources.
Overall income increased by £115,886.
£214,620 (down £53,364) was spent from unrestricted funds and £215,590 (down £111,678) from restricted funds to provide the Christian ministry from St. Mary’s Church. In addition to services, this includes mission and charity, children youth and schools work, social action, administration, Churchyard maintenance and improvement, and buildings. The Diocesan Parish Gift, which largely provides stipends and housing for the clergy, was £51,700 (up £4,700), but there were no additional payments to cover the cost of the Curacy extension (£3,150 last year). Personnel costs were £132,444 (up £25,068); the increase was due to net new hires and salary increases. Apart from the foodbank, personnel costs are paid mostly from the general fund, with a small contribution from the Ministry Staff fund. The Foodbank issued £69,822 worth of food to clients and other charities (down £20,893); its running costs were £41,420 (up £21,429), this was dominated by provision for a Citizens Advice worker to attend distribution sessions. We spent £72,663 on Buildings Management (down £178,055); this included a further £16,388 refurbishing the Church Gate Centre (£160,561 last year), the rest was mostly running costs and maintenance. Refurbishing the house a 3 Poplar Avenue was completed in 2023. Overall Discipleship costs were £4,196 (down £6,738); significant items were zero on a Ministry Trainee (£5,615 last year
Page 3
St Mary's Lutterworth PCC Annual Report (continued) For the year ending 31 December 2024
when he finished), £974 on courses (down £1,128) and £2,777 on services (down £54). Regular support for overseas mission, through the Crosslinks organisation, continued at £6,000. We also spent £12,000 to support two of our members who are training for overseas mission. Office costs were £5,907 (down £2,778). Costs for Outreach and Welcome were £3,926 (down £443). Work with under-18s cost £4,302 (down £672). £18,360 (up £2,420) was spent on Churchyard maintenance and improvement; this is mostly a mowing contract with a grounds maintenance company, (supported by grant aid from the Town Council).
Overall expenditure decreased by £165,042
There was a small deficit before transfers of £237 in unrestricted funds and a surplus of £198,440 in restricted funds.
The small decrease in unrestricted planned giving was again disappointing, but several new donors have joined following the Vision Sunday appeals last year and this year. The PCC is continuing to take steps to improve its income and control costs, including emphasis on the need for increased regular giving from our members, and has actively sought most of the grants mentioned above.
The net results for the year, after various transfers between funds and gains or losses on investments (detailed in the financial statements), were a decrease of £13,299 unrestricted funds, an increase of £195,840 restricted funds and an increase of £1,435 endowment funds. The balances carried forward (including tangible and investment fixed assets) were £162,130 of unrestricted funds, £694,600 of restricted funds and £14,621 of endowment funds.
Reserves policy
The PCC holds a number of funds, balances and details of which are set out in notes 9e and 14 on pages 18, 19, 21 and 22 of the accounts. Restricted and endowment funds can by law only be applied to the purpose specified; unrestricted funds are available to the PCC to use for any purpose within its objects.
The PCC has adopted a policy to set aside from unrestricted funds a General Reserve fund. This fund is held in reserve to cover risks of significant decline in income, theft of lead from the roof, unplanned repairs to the Church and other properties, unplanned work on trees in the Churchyard and other unplanned expenditure. The risks will be reviewed annually, and the reserve adjusted accordingly. The reserve stood at £44,351at the beginning of the year; By 31 December it was £34,941, after a grant for recovery of VAT on repairs in 2023, accrual of interest, and a transfer to the General fund.
It is our policy to invest our funds balances with CBF Church of England Deposit Fund.
Approved by the Parochial Church Council on 17 March 2025 and signed on its behalf by:
Rev. Nigel Gordon Byard, Rector, PCC Chairman x Nal
Page 4
St Mary's Lutterworth PCC Statement of Financial Activities For the year ending 31 December 2024
| St Mary's Lutterworth PCC Statement of Financial Activities For the year ending 31 December 2024 |
|||||||
|---|---|---|---|---|---|---|---|
| Note | Unre- stricted Funds £ |
Re- stricted Funds £ |
Endow- ment Funds £ |
TOTAL FUNDS | |||
| 2024 £ |
2023 £ |
||||||
| INCOMING RESOURCES | |||||||
| Voluntary income | 2(a) | 164,199 | 253,984 | – |
418,184 | 470,873 | |
| Activities for generating funds | 2(b) | 851 | 2,284 |
– |
3,135 | 636 |
|
| Investment income | 2(c) | 16,363 | 8,806 |
– |
25,169 | 11,491 |
|
| Church activities | 2(d) | 14,409 | 499 |
– |
14,908 | 16,970 |
|
| Other incoming resources | 2(e) | 18,561 | 148,457 | – |
167,018 | 12,557 |
|
| TOTAL INCOMING RESOURCES | 214,383 | 414,030 | – |
628,413 | 512,527 | ||
| RESOURCES EXPENDED | |||||||
| Costs of generating funds | 3(a) | 113 | 775 |
– |
888 | 91 |
|
| Church activities | 3(b) | 213,940 | 213,313 | – |
427,253 | 589,713 | |
| Governance costs | 3(c) | 356 | – |
– | 356 | 354 |
|
| Other resources expended | 3(d) | 211 | 1,502 |
– |
1,713 | 5,094 |
|
| TOTAL RESOURCES EXPENDED | 214,620 | 215,590 | – |
430,210 | 595,252 | ||
| NET INCOMING/(OUTGOING) RESOURCES BEFORE TRANSFERS |
(237) | 198,440 | – |
198,203 | (82,725) | ||
| TRANSFERS BETWEEN FUNDS | |||||||
| Transfers from other funds | 6(a) | 17,984 | 12,060 |
– |
30,044 | 29,814 |
|
| Transfers to other funds | 6(b) | 21,383 | 8,660 |
– |
30,044 | 29,814 |
|
| NET TRANSFERS FROM/(TO) OTHER FUNDS | (3,400) | 3,400 |
– |
– | – | ||
| NET INCOMING/(OUTGOING) RESOURCES | (3,637) | 201,840 | – |
198,203 | (82,725) | ||
| GAINS (LOSSES) ON INVESTMENTS | 7(a) | (9,662) | (6,000) |
1,435 |
(14,228) | 24,953 |
|
| NET MOVEMENT IN FUNDS | (13,299) | 195,840 | 1,435 |
183,975 | (57,772) | ||
| BALANCES BROUGHT FORWARD AT 1 JANUARY |
175,430 | 498,760 | 13,187 |
687,377 | 745,148 | ||
| BALANCES CARRIED FORWARD AT 31 DECEMBER |
162,130 | 694,600 | 14,621 |
871,352 | 687,377 | ||
Page 5
St Mary's Lutterworth PCC Balance Sheet at 31 December 2024
| Notes | 2024 £ |
2023 £ |
||||
|---|---|---|---|---|---|---|
| FIXED ASSETS | ||||||
| Tangible fixed assets | 8(a), 9(a) | 243,999 | 243,999 | 243,999 | 79,999 | |
| Investment assets | 8(b), 9(b) | 344,417 | 344,417 | 344,417 358,644 |
358,644 | |
| 588,416 | 588,416 | 588,416 438,643 |
438,643 | |||
| CURRENT ASSETS | 9(c) | |||||
| Debtors | 10 | 19,885 | 19,885 | 21,489 | ||
| Short term deposits | 212,121 | 212,121 | 212,121 190,847 |
190,847 | ||
| Cash at bank and in hand | 59,065 | 59,065 | 52,852 | |||
| Foodbank stock | 14,396 | 14,396 | 8,702 | |||
| 305,467 | 305,467 | 305,467 273,890 |
273,890 | |||
| LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR |
9(d),11 | 22,531 | 22,531 | 25,157 | ||
| NET CURRENT ASSETS | 282,936 | 282,936 | 282,936 248,733 |
248,733 | ||
| NET ASSETS | 871,352 | 871,352 | 871,352 687,377 |
687,377 | ||
| FUNDS | 9(e) | |||||
| Unrestricted | 162,130 | 162,130 | 162,130 175,430 |
175,430 | ||
| Restricted | 694,600 | 694,600 | 694,600 498,760 |
498,760 | ||
| Endowment | 14,621 | 14,621 | 13,187 | |||
| 871,352 | 871,352 | 871,352 687,377 |
687,377 | |||
Approved by the Parochial Church Council on 17 March 2025 and signed on its behalf by:
Rev. Nigel Gordon Byard, Rector, PCC Chairman x * Neel& Mr. Peter William Gray (treasurer)
x
The notes on pages 7 to 23 form part of these accounts
Page 6
St Mary's Lutterworth PCC Notes to the Financial Statements For the year ending 31 December 2024
1 ACCOUNTING POLICIES
The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the SORP 2005
The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, 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.
All amounts shown in the financial statements are rounded to the nearest whole pound.
Funds
Endowment funds are funds, the capital of which must be maintained; only income arising from investment of the endowment may be used either as restricted or unrestricted funds depending upon the purpose for which the endowment was established.
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 each year must be carried forward as a balance on that fund.
Unrestricted funds are funds which can be used for PCC ordinary purposes. They include the General fund and funds designated by the PCC for specific purposes.
Incoming resources
Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under Gift Aid is recognised only when received. Income tax recoverable on Gift Aid donations is recognised when the income is recognised.
Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain.
Funds raised by fetes, garden parties and similar events are accounted for gross.
Sales of books and magazines from the church bookstall are accounted for gross.
Rental income from the letting of church premises is recognised when the rental is due.
Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue. Tax recoverable on such income is recognised in the same accounting year.
Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at 31 December.
Resources used
Grants and donations are accounted for when awarded, whether or not that creates a binding obligation on the PCC.
The parish gift is both accounted for and paid by instalments. Any parish gift unpaid at 31 December is provided for in these financial statements as an operational (though not a legal) liability and is shown as a creditor in the Balance Sheet. Any parish gift overpaid at 31 December is provided for in these financial statements as an asset and is shown as a debtor in the Balance Sheet
All other expenditure is generally recognised when incurred and is accounted for gross.
Fixed assets
Consecrated property and movable church furnishings
Consecrated and beneficed property is not included in the accounts in accordance with s.10(2)(a) and (c) of the Charities Act 2011.
Page 7
St Mary's Lutterworth PCC Notes to the Financial Statements (continued) For the year ending 31 December 2024
Movable church furnishings held by the Rector and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted as inalienable property unless consecrated. They are listed in the church's Inventory which can be inspected (at any reasonable time). For inalienable property acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements. Items acquired since 1 January 2000 at a cost of £1,000 or more have been capitalised and depreciated in the financial statements over their currently anticipated useful economic life on a straight-line basis.
For Service Books, the anticipated life is 10 years.
All expenditure incurred in the year on consecrated or beneficed buildings, individual items under £1,000 or on the repair of movable church furnishings acquired before 1 January 2000 is written off.
Other fixtures, fittings and office equipment
Equipment used within the church premises is depreciated on a straight line basis over 5 years. Individual items of equipment with a purchase price of £1,000 or less are written off when the asset is acquired.
Investments
Investments are valued at market value at 31 December.
Current assets
Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectable.
Short-term deposits include cash held on deposit either with the CBF Church of England Funds or at the bank.
2 INCOMING RESOURCES
| All incoming resources went to the General fund unless otherwise noted |
Unre- stricted Funds £ |
Re- stricted Funds £ |
Endow- ment Funds £ |
TOTAL FUNDS | TOTAL FUNDS | |
|---|---|---|---|---|---|---|
| 2024 £ |
2023 £ |
|||||
| 2(a) | Voluntary income | |||||
| Annual Appeals | ||||||
| Gift aided donations | ||||||
| ▪ Community Action (R) fund |
– | – | – | – | 2,750 | |
| ▪ Foodbank (R) fund |
– | – | – | – | 60 | |
| Income tax recoverable | ||||||
| ▪ Community Action (R) fund |
– | – | – | – | 688 | |
| ▪ Foodbank (R) fund |
– | – | – | – | 15 | |
| Other Donations | ||||||
| ▪ General fund |
161 | – |
– | 161 | – |
|
| ▪ Community Action (R) fund |
– | – | – | – | 1,000 | |
| Planned giving | ||||||
| Gift aided planned giving | ||||||
| ▪ General fund |
58,130 | – |
– | 58,130 | 58,828 |
|
| ▪ Foodbank (R) fund |
– | 3,890 | – |
3,890 | 4,669 |
|
| ▪ Ministry Staff (R) fund |
– | 4,708 | – |
4,708 | 5,625 |
|
| Income tax recoverable | ||||||
| ▪ General fund |
14,533 | – |
– | 14,533 | 14,707 |
|
| ▪ Foodbank (R) fund |
– | 973 | – |
973 | 1,167 |
|
| ▪ Ministry Staff (R) fund |
– | 1,177 | – |
1,177 | 1,406 |
|
| Regular Web Giving | ||||||
| ▪ General fund |
7,520 | – |
– | 7,520 | 6,750 |
|
| ▪ Foodbank (R) fund |
– | 6,536 | – |
6,536 | 7,217 |
|
| Regular Web Tax recovered | ||||||
| ▪ General fund |
227 | – |
– | 227 | 268 |
|
| ▪ Foodbank (R) fund |
– | 1,288 | – |
1,288 | 1,403 |
Page 8
St Mary's Lutterworth PCC Notes to the Financial Statements (continued) For the year ending 31 December 2024
| All incoming resources went to the General fund unless otherwise noted |
Unre- stricted Funds £ |
Re- stricted Funds £ |
Endow- ment Funds £ |
TOTAL FUNDS | TOTAL FUNDS | |
|---|---|---|---|---|---|---|
| 2024 £ |
2023 £ |
|||||
| 2(a) | Voluntary income (continued) | |||||
| Planned giving (continued) | ||||||
| Payroll Giving | ||||||
| ▪ General fund |
8,868 | – |
– | 8,868 | 8,806 |
|
| ▪ Ministry Staff (R) fund |
– | 412 | – |
412 | 419 |
|
| ▪ Mission and Charity (R) fund |
– | 3,000 | – |
3,000 | 2,950 |
|
| Other planned giving | ||||||
| ▪ General fund |
6,837 | – |
– | 6,837 | 7,398 |
|
| ▪ Foodbank (R) fund |
– | 1,440 | – |
1,440 | 1,500 |
|
| Income tax (not previously accrued) | ||||||
| ▪ General fund |
– | – | – | – | 1 | |
| ▪ Foodbank (R) fund |
– | – | – | – | 950 | |
| Web Site Giving | ||||||
| Donations | ||||||
| ▪ General fund |
2,802 | – |
– | 2,802 | 1,170 |
|
| ▪ Events (D) fund |
100 | – |
– | 100 | 10 |
|
| ▪ Community Action (R) fund |
– | 100 | – |
100 | 1,500 |
|
| ▪ Foodbank (R) fund |
– | 2,072 | – |
2,072 | 3,027 |
|
| Tax Recovered | ||||||
| ▪ General fund |
31 | – |
– | 31 | 6 |
|
| ▪ Community Action (R) fund |
– | – | – | – | 206 | |
| ▪ Foodbank (R) fund |
– | 311 | – |
311 | 380 |
|
| Collections (open plate) | ||||||
| ▪ General fund |
3,594 | – |
– | 3,594 | 2,795 |
|
| ▪ Events (D) fund |
16 | – |
– | 16 | 47 |
|
| ▪ Foodbank (R) fund |
– | 92 | – |
92 | – |
|
| ▪ Mission and Charity (R) fund |
– | 157 | – |
157 | 73 |
|
| Grants received | ||||||
| ▪ General fund |
21,144 | – |
– | 21,144 | 16,058 |
|
| ▪ General Reserve (D) fund |
1,892 | – |
– | 1,892 | – |
|
| ▪ Buildings (D) fund |
– | – | – | – | 268 | |
| ▪ Events (D) fund |
1,000 | – |
– | 1,000 | 500 |
|
| ▪ Churchyard Maintenance (R) fund |
– | 10,000 | – |
10,000 | 8,000 |
|
| ▪ Community Action (R) fund |
– | 16,784 | – |
16,784 | 121,400 | |
| ▪ Foodbank (R) fund |
– | 118,907 | – |
118,907 | 72,888 |
|
| ▪ Ministry Staff (R) fund |
– | 48 | – |
48 | 488 |
|
| Legacies received | – | – | – | – | 12,500 | |
| Sundry donations and appeals | ||||||
| Gift aided donations | ||||||
| ▪ General fund |
6,486 | – |
– | 6,486 | 2,297 |
|
| ▪ Events (D) fund |
60 | – |
– | 60 | 70 |
|
| ▪ Chaplaincy (R) fund |
– | 1,200 | – |
1,200 | – |
|
| ▪ Community Action (R) fund |
– | 100 | – |
100 | – |
|
| ▪ Foodbank (R) fund |
– | 2,110 | – |
2,110 | 2,040 |
|
| ▪ Information Technology (R) fund |
– | – | – | – | 2,000 | |
| Income Tax Recoverable | ||||||
| ▪ General fund |
1,622 | – |
– | 1,622 | 574 |
|
| ▪ Events (D) fund |
15 | – |
– | 15 | 18 |
|
| ▪ Chaplaincy (R) fund |
– | 300 | – |
300 | – |
|
| ▪ Community Action (R) fund |
– | 25 | – |
25 | – |
|
| ▪ Foodbank (R) fund |
– | 528 | – |
528 | 510 |
|
| ▪ Information Technology (R)fund |
– | – |
– |
– |
500 |
Page 9
St Mary's Lutterworth PCC Notes to the Financial Statements (continued) For the year ending 31 December 2024
| All incoming resources went to the General fund unless otherwise noted |
Unre- stricted Funds £ |
Re- stricted Funds £ |
Endow- ment Funds £ |
TOTAL FUNDS | TOTAL FUNDS | |
|---|---|---|---|---|---|---|
| 2024 £ |
2023 £ |
|||||
| 2(a) | Voluntary income (continued) | |||||
| Sundry donations and appeals (continued) | ||||||
| Candle Box | 60 | – |
– | 60 | 82 |
|
| Wall Box | 501 | – |
– | 501 | 395 |
|
| For Easter Lilies | ||||||
| ▪ Flower (D) fund |
413 | – |
– | 413 | 290 |
|
| Other Donations | ||||||
| ▪ General fund |
28,164 | – |
– | 28,164 | 3,086 |
|
| ▪ Events (D) fund |
23 | – |
– | 23 | 30 |
|
| ▪ Community Action (R) fund |
– | 801 | – |
801 | – |
|
| ▪ Foodbank (R) fund |
– | 1,822 | – |
1,822 | 1,741 |
|
| ▪ Mission and Charity (R) fund |
– | 15 | – |
15 | – |
|
| Income tax (not previously accrued) | – | – | – | – | 943 | |
| Gifts in Kind | ||||||
| ▪ Foodbank (R) fund |
– | 75,187 | – |
75,187 | 86,402 |
|
| 164,199 | 253,984 | – |
418,184 | 470,873 | ||
| 2(b) | Activities for generating funds | |||||
| Functions and Events | ||||||
| ▪ Community Action (R) fund |
– | 2,284 | – |
2,284 | – |
|
| Hiring out rooms | 585 | – |
– | 585 | 540 |
|
| Charitable Trading Income | 266 | – |
– | 266 | 96 |
|
| 851 | 2,284 |
– |
3,135 | 636 |
||
| 2(c) | Investment income | |||||
| Dividends on Investments | ||||||
| ▪ Churchyard Trusts Revenue (R) fund |
– | 356 | – |
356 | 351 |
|
| Interest on Deposits | ||||||
| ▪ General fund |
70 | – |
– | 70 | 107 |
|
| ▪ General Reserve (D) fund |
2,382 | – |
– | 2,382 | 2,134 |
|
| ▪ Parsonage (D) fund |
9 | – |
– | 9 | 28 |
|
| ▪ Ruth Gee Improvements (D) fund |
– | – | – | – | 541 | |
| ▪ Bell (R) fund |
– | 302 | – |
302 | 175 |
|
| ▪ Churchyard Trusts Revenue (R) fund |
– | 242 | – |
242 | 132 |
|
| ▪ Community Action (R) fund |
– | 130 | – |
130 | 381 |
|
| ▪ Foodbank (R) fund |
– | 6,817 | – |
6,817 | 3,165 |
|
| ▪ Hardship (R) fund |
– | 341 | – |
341 | 200 |
|
| ▪ Organ (R) fund |
– | 583 | – |
583 | 356 |
|
| Rents etc. | 13,809 | – |
– | 13,809 | 3,875 |
|
| Interest on tax reclaimed | ||||||
| ▪ General fund |
93 | – |
– | 93 | 21 |
|
| ▪ Other unrestricted funds |
– | – | – | – | 0 | |
| ▪ Foodbank (R) fund |
– | 15 | – |
15 | 19 |
|
| ▪ Other restricted funds |
– | 19 | – |
19 | 4 |
|
| 16,363 | 8,806 |
– |
25,169 | 11,491 |
||
Page 10
St Mary's Lutterworth PCC Notes to the Financial Statements (continued) For the year ending 31 December 2024
| All incoming resources went to the General fund unless otherwise noted |
Unre- stricted Funds £ |
Re- stricted Funds £ |
Endow- ment Funds £ |
TOTAL FUNDS | TOTAL FUNDS | |
|---|---|---|---|---|---|---|
| 2024 £ |
2023 £ |
|||||
| 2(d) | Church activities | |||||
| Discipleship | ||||||
| Courses | 187 | – |
– | 187 | 228 |
|
| Study Books | – | – | – | – | 25 | |
| Fees due to the PCC (statutory) | 7,866 | – |
– | 7,866 | 10,935 |
|
| Fees due to the PCC (Locally set) | ||||||
| ▪ General fund |
861 | – |
– | 861 | 579 |
|
| ▪ Bell (R) fund |
– | 40 | – |
40 | 130 |
|
| Outreach and Welcome | 1,383 | – |
– | 1,383 | 1,317 |
|
| Social Action | ||||||
| Community Action | ||||||
| ▪ Community Action (R) fund |
– | 459 | – |
459 | – |
|
| Under 18s work | ||||||
| with Children | ||||||
| ▪ General fund |
1,715 | – |
– | 1,715 | 1,966 |
|
| ▪ Events (D) fund |
2,050 | – |
– | 2,050 | 1,570 |
|
| with Youth | ||||||
| ▪ General fund |
20 | – |
– | 20 | 50 |
|
| ▪ Events (D) fund |
327 | – |
– | 327 | 170 |
|
| 14,409 | 499 |
– |
14,908 | 16,970 |
||
| 2(e) | Other incoming resources | |||||
| Re-valuationof fixed assets1 | ||||||
| ▪ Unrestricted Property (D) fund |
18,543 | – |
– | 18,543 | – |
|
| ▪ CGC Property (R) fund |
– | 148,457 | – |
148,457 | – |
|
| Stocktaking Adjustments | ||||||
| ▪ Foodbank (R) fund2 |
– | – |
– |
– |
12,557 |
|
| Miscellaneous Adjustments | ||||||
| ▪ General fund |
18 | – |
– | 18 | – |
|
| ▪ Churchyard Trusts Revenue (R) fund |
– | – | – | – | 0 | |
| 18,561 | 148,457 | – |
167,018 | 12,557 |
||
| TOTAL INCOMING RESOURCES | 214,383 | 414,030 | – |
628,413 | 512,527 | |
3 RESOURCES EXPENDED
| All resources expended came from the General fund unless otherwise noted |
Unre- stricted Funds £ |
Re- stricted Funds £ |
Endow- ment Funds £ |
TOTAL FUNDS | TOTAL FUNDS | |
|---|---|---|---|---|---|---|
| 2024 £ |
2023 £ |
|||||
| 3(a) | Costs of generating funds | |||||
| Costs of fundraising events | ||||||
| ▪ Community Action (R) fund |
– | 775 | – |
775 | – |
|
| Charitable trading costs | 55 | – |
– | 55 | – |
|
| Costs of generating voluntary income | 58 | – |
– | 58 | 91 |
|
| 113 | 775 |
– |
888 | 91 |
||
1 A valuation of the Churchgate Community Centre was obtained following the completion of its refurbishment in 2024. These figures represent the increase in value from that recorded at the end of 2023
2 The recorded value of foodbank stock had become out of step with the stock weight, and there was a stocktake in September 2023.
Page 11
St Mary's Lutterworth PCC Notes to the Financial Statements (continued) For the year ending 31 December 2024
| All resources expended came from the General fund unless otherwise noted |
Unre- stricted Funds £ |
Re- stricted Funds £ |
Endow- ment Funds £ |
TOTAL FUNDS | TOTAL FUNDS | |
|---|---|---|---|---|---|---|
| 2024 £ |
2023 £ |
|||||
| 3(b) | Church activities | |||||
| Management-Buildings | ||||||
| New buildings or major works (CGC project) | ||||||
| ▪ General fund |
1,600 | – |
– | 1,600 | 568 |
|
| ▪ General Reserve (D) fund |
– | – | – | – | 11,479 | |
| ▪ Ruth Gee Improvements (D) fund |
– | – | – | – | 3,826 | |
| ▪ Buildings Improvement (R) fund |
– | – | – | – | 1,662 | |
| ▪ Community Action (R) fund |
– | 11,224 | – |
11,224 | 141,263 | |
| ▪ Covid Crisis Action (R) fund |
– | – | – | – | 1,349 | |
| ▪ Foodbank (R) fund |
– | 3,564 | – |
3,564 | 414 |
|
| New buildings or major works (Poplar project) | ||||||
| ▪ General fund |
– | – | – | – | 1,089 | |
| ▪ Ruth Gee Improvements (D) fund |
– | – | – | – | 43,245 | |
| Church Major repairs (structure) (arising from quinquennial report) |
289 | – |
– |
289 |
– |
|
| Church major repairs (installations) | 6,965 | – |
– | 6,965 | 6,193 |
|
| Church Running Expenses | 30,797 | – |
– | 30,797 | 26,089 |
|
| Church Maintenance | ||||||
| ▪ General fund |
5,572 | – |
– | 5,572 | 2,370 |
|
| ▪ Organ (R) fund |
– | 175 | – |
175 | 653 |
|
| Church Improvements | 500 | – |
– | 500 | 620 |
|
| Church Gate Centre Running Costs | ||||||
| ▪ General fund1 |
(9) | – | – |
(9) |
2,689 | |
| ▪ Unrestricted Property (D) fund |
812 | – |
– | 812 | 782 |
|
| ▪ CGC Property (R) fund |
– | 1,688 | – |
1,688 | 218 |
|
| ▪ Community Action (R) fund |
– | 7,310 | – |
7,310 | – |
|
| Upkeep of 3 Poplar Avenue | ||||||
| ▪ General fund |
2,102 | – |
– | 2,102 | 1,126 |
|
| ▪ Buildings (D) fund |
– | – | – | – | 2,193 | |
| Parsonage house | ||||||
| ▪ General Reserve (D) fund |
– | – | – | – | 2,890 | |
| ▪ Parsonage (D) fund |
75 | – |
– | 75 | – |
|
| Management-Churchyard | ||||||
| ▪ General fund |
1,800 | – |
– | 1,800 | 520 |
|
| ▪ Churchyard Maintenance (R) fund |
– | 16,560 | – |
16,560 | 15,420 |
|
| Management-Church Office | ||||||
| ▪ General fund |
5,907 | – |
– | 5,907 | 7,589 |
|
| ▪ Information Technology (R) fund |
– | – | – | – | 1,097 | |
| Management-Communications | ||||||
| ▪ General fund |
2,083 | – |
– | 2,083 | 1,701 |
|
| ▪ Community Action (R) fund |
– | 408 | – |
408 | – |
|
| ▪ Covid Crisis Action (R) fund |
– | – | – | – | 1,536 | |
| Discipleship | ||||||
| Ministry Trainees | – | – | – | – | 5,615 | |
| Courses | 974 | – |
– | 974 | 2,102 |
|
| Church at home | 46 | – |
– | 46 | 50 |
|
| One to One | 10 | – |
– | 10 | – |
|
| Prayer Events | 18 | – |
– | 18 | 20 |
|
| Resources | 370 | – |
– | 370 | 131 |
1 The negative amount in 2024 arose from the revision of a utility bill from 2023.
Page 12
St Mary's Lutterworth PCC Notes to the Financial Statements (continued) For the year ending 31 December 2024
| All resources expended came from the General fund unless otherwise noted |
Unre- stricted Funds £ |
Re- stricted Funds £ |
Endow- ment Funds £ |
TOTAL FUNDS | TOTAL FUNDS | |
|---|---|---|---|---|---|---|
| 2024 £ |
2023 £ |
|||||
| 3(b) | Church activities (continued) | |||||
| Discipleship (continued) | ||||||
| Services | ||||||
| ▪ General fund |
2,450 | – |
– | 2,450 | 2,562 |
|
| ▪ Flower (D) fund |
288 | – |
– | 288 | 269 |
|
| ▪ Information Technology (R) fund |
– | 39 | – |
39 | – |
|
| Small groups | – | – | – | – | 186 | |
| Grants (see note 12 for policy and recipients) | ||||||
| Church overseas | ||||||
| Overseas Missions | 6,000 | – |
– | 6,000 | 6,000 |
|
| Relief agencies | ||||||
| ▪ Mission and Charity (R) fund |
– | – | – | – | 0 | |
| Home Missions etc | ||||||
| ▪ General fund |
9,092 | – |
– | 9,092 | 13,582 |
|
| ▪ Mission and Charity (R) fund |
– | 3,172 | – |
3,172 | 2,994 |
|
| Secular charities | ||||||
| ▪ Mission and Charity (R) fund |
– | – | – | – | 29 | |
| Individuals etc. | ||||||
| ▪ Hardship (R) fund |
– | 20 | – |
20 | 20 |
|
| Outreach and Welcome | ||||||
| ▪ General fund |
3,736 | – |
– | 3,736 | 4,369 |
|
| ▪ Community Action (R) fund |
– | 190 | – |
190 | – |
|
| Parish Gift (ordinary) | 51,700 | – |
– | 51,700 | 47,000 |
|
| Parish Gift (curacy extension) | – | – | – | – | 3,150 | |
| Personnel | ||||||
| Gratuities etc. | ||||||
| ▪ General fund |
87 | – |
– | 87 | 369 |
|
| ▪ Foodbank (R) fund |
– | 139 | – |
139 | 79 |
|
| Honoraria | 10 | – |
– | 10 | 5 |
|
| Staff costs | ||||||
| Employment costs | ||||||
| ▪ General fund |
72,097 | – |
– | 72,097 | 55,749 |
|
| ▪ Foodbank (R) fund |
– | 46,835 | – |
46,835 | 38,886 |
|
| ▪ Ministry Staff (R) fund |
– | 6,844 | – |
6,844 | 6,450 |
|
| Recruitment | ||||||
| ▪ General fund |
– | – | – | – | 45 | |
| ▪ Foodbank (R) fund |
– | 459 | – |
459 | 636 |
|
| Training | ||||||
| ▪ General fund |
130 | – |
– | 130 | 139 |
|
| ▪ Foodbank (R) fund |
– | 454 | – |
454 | 185 |
|
| ▪ Ministry Staff (R) fund |
– | 373 | – |
373 | 313 |
|
| Human Resources | ||||||
| ▪ General fund |
180 | – |
– | 180 | – |
|
| ▪ Foodbank (R) fund |
– | 78 | – |
78 | – |
|
| Working expenses | ||||||
| ▪ General fund |
3,839 | – |
– | 3,839 | 3,306 |
|
| ▪ Ministry Staff (R) fund |
– | 919 | – |
919 | 1,213 |
|
| Prayer and Pastoral | 117 | – |
– | 117 | – |
Page 13
St Mary's Lutterworth PCC Notes to the Financial Statements (continued) For the year ending 31 December 2024
| All resources expended came from the General fund unless otherwise noted |
Unre- stricted Funds £ |
Re- stricted Funds £ |
Endow- ment Funds £ |
TOTAL FUNDS | TOTAL FUNDS | |
|---|---|---|---|---|---|---|
| 2024 £ |
2023 £ |
|||||
| 3(b) | Church activities (continued) | |||||
| Social Action | ||||||
| Community Action | ||||||
| ▪ Community Action (R) fund |
– | 1,619 | – |
1,619 | – |
|
| Foodbank-in kind | ||||||
| ▪ Foodbank (R) fund |
– | 69,822 | – |
69,822 | 90,715 |
|
| Foodbank-monetary1 | ||||||
| ▪ Foodbank (R) fund |
– | 41,420 | – |
41,420 | 19,991 |
|
| Under 18s work | ||||||
| with Children | ||||||
| ▪ General fund |
179 | – |
– | 179 | 450 |
|
| ▪ Events (D) fund |
2,074 | – |
– | 2,074 | 1,972 |
|
| with Families | 271 | – |
– | 271 | 222 |
|
| in Schools | 77 | – |
– | 77 | 188 |
|
| with Youth | ||||||
| ▪ General fund |
1,080 | – |
– | 1,080 | 1,420 |
|
| ▪ Events (D) fund |
480 | – |
– | 480 | 365 |
|
| Shared | 141 | – |
– | 141 | 357 |
|
| 213,940 | 213,313 | – |
427,253 | 589,713 | ||
| 3(c) | Governance costs | |||||
| Independent examiner's fees | 308 | – |
– | 308 | 302 |
|
| Miscellaneous | 38 | – |
– | 38 | 35 |
|
| PCC Meetings etc. | 11 | – |
– | 11 | 17 |
|
| 356 | – |
– | 356 | 354 |
||
| 3(d) | Other resources expended | |||||
| Bank charges etc. | ||||||
| ▪ General Fund |
150 | – |
– | 150 | 145 |
|
| ▪ Events (D) fund |
61 | – |
– | 61 | 49 |
|
| ▪ Other designated funds |
0 | – |
– | 0 | 1 |
|
| ▪ Mission and Charity (R) fund |
– | 2 | – |
2 | – |
|
| Debts written off | ||||||
| ▪ General Fund2 |
– | – |
– |
– |
270 |
|
| ▪ Events (D)fund3 |
– | – |
– |
– |
500 |
|
| ▪ Chaplaincy (R)fund4 |
– | 1,500 |
– |
1,500 |
– |
|
| Stocktaking Adjustments | ||||||
| ▪ Foodbank (R) fund5 |
– | – |
– |
– |
2,145 |
|
| Miscellaneous | – | – | – | – | 1,984 | |
| 211 | 1,502 |
– |
1,713 | 5,094 |
||
| TOTAL RESOURCES EXPENDED | 214,620 | 215,590 | – |
430,210 | 595,252 | |
1 From June 2024, this includes grant funded £6,701 per quarter for provision of a Citizens Advice worker,
2 In 2023, unpaid fees and an old unpaid bill
3 In 2023, unclaimable grant for a past event.
4 In 2024, unclaimable grant for a past activity
5 There was a foodbank stocktake in September 2023.
Page 14
St Mary's Lutterworth PCC Notes to the Financial Statements (continued) For the year ending 31 December 2024
4 STAFF COSTS
| 2024 £ |
2023 £ |
|||||
|---|---|---|---|---|---|---|
| Salaries, Wages, etc. | 113,682 | 92,350 |
||||
| Employer’s National Insurance | 7,074 | 4,823 |
||||
| Employer's Pension Contribution | 5,031 | 3,917 |
||||
| 125,786 | 101,090 | |||||
During the year, the PCC employed a church administrator, an Associate Pastor, a premises officer, a community and funding officer, and a foodbank manager, operations supervisor, participation worker and pathfinder project learning lead, none of whom earned £60,000 p.a. or more.
5 TRANSACTIONS WITH RELATED PARTIES
The following member of the PCC was paid during the year: Mr Ben Horrex, £37,686 as Associate Pastor. There were no other disclosable transactions in respect of PCC members, persons closely connected with them or other related parties.
6 TRANSFERS BETWEEN FUNDS
| Unre- stricted Funds £ |
Re- stricted Funds £ |
Endow- ment Funds £ |
TOTAL FUNDS | TOTAL FUNDS | ||
|---|---|---|---|---|---|---|
| 2024 £ |
2023 £ |
|||||
| 6(a) | Transfers from other funds | |||||
| From General fund | ||||||
| ▪ to Buildings (D) fund, to cover deficit and close the fund |
– | – |
– |
– |
236 |
|
| ▪ to Events (D) fund, to cover deficit from events |
106 | – |
– |
106 |
316 |
|
| ▪ to Parsonage (D) fund, annual and additional designation by PCC |
500 | – |
– |
500 |
150 |
|
| ▪ to Ruth Gee Improvements (D) fund, to cover deficit and close the fund |
– |
– |
– |
– |
9,391 |
|
| ▪ to Churchyard Maintenance (R) fund, to make up shortfall in income compared to expenditure |
– | 6,010 |
– |
6,010 |
6,970 |
|
| From General Reserve(D)fund | ||||||
| ▪ General fund, to cover deficit in 2024 and part cover capital spending in 2023 |
13,684 | – |
– |
13,684 |
10,000 |
|
| From Buildings(R)fund,to close the fund | ||||||
| ▪ Buildings Improvement (R) fund, to part cover deficit |
– | – |
– |
– |
64 |
|
| From CommunityAction(R)fund | ||||||
| ▪ to Buildings Improvement (R) fund, to cover deficit and close the fund |
– | – |
– |
– |
480 |
|
| ▪ to Covid Crisis Action (R) fund, to cover deficit and close the fund |
– | – |
– |
– |
4 |
|
| From Churchyard Trusts Revenue(R)fund | ||||||
| ▪ to Churchyard Maintenance (R) fund, towards costs |
– | 550 |
– |
550 |
450 |
|
| From Events (D) fund | ||||||
| ▪ To General fund, surplus from events |
1,083 | – |
– | 1,083 | 193 |
|
| From Foodbank (R) fund | ||||||
| ▪ to General fund, contribution for use of CCC and towards church office costs |
2,610 | – |
– |
2,610 |
1,560 |
|
| ▪ to Community Action (R) fund, contribution for use of CCC |
– | 5,500 |
– |
5,500 |
– |
|
| 17,984 | 12,060 |
– |
30,044 |
29,814 |
||
Page 15
St Mary's Lutterworth PCC Notes to the Financial Statements (continued) For the year ending 31 December 2024
| Unre- stricted Funds £ |
Re- stricted Funds £ |
Endow- ment Funds £ |
TOTAL FUNDS | TOTAL FUNDS | ||
|---|---|---|---|---|---|---|
| 2024 £ |
2023 £ |
|||||
| 6(b) | Transfers to other funds | |||||
| To General fund | ||||||
| ▪ from General Reserve (D) fund |
13,684 | – |
– | 13,684 | 10,000 |
|
| ▪ from Events (D) fund |
1,083 | – |
– | 1,083 | 193 |
|
| ▪ from Foodbank(R)fund |
– | 2,610 |
– |
2,610 |
1,560 |
|
| To Buildings(D)fund | ||||||
| ▪ from General fund |
– | – |
– |
– |
236 |
|
| To Buildings Improvement(R)fund | ||||||
| ▪ from Buildings(R)fund |
– | – |
– |
– |
64 |
|
| ▪ from CommunityAction(R)fund |
– | – |
– |
– |
480 |
|
| To Churchyard Maintenance(R)fund | ||||||
| ▪ from General fund |
6,010 | – |
– |
6,010 |
6,970 |
|
| ▪ from Churchyard Trusts Revenue(R)fund |
– | 550 |
– |
550 |
450 |
|
| To CommunityAction(R)fund | ||||||
| ▪ from Foodbank(R)fund |
– | 5,500 |
– |
5,500 |
– |
|
| To Covid Crisis Action(R)fund | ||||||
| ▪ from CommunityAction(R)fund |
– | – |
– |
– |
4 |
|
| To Events (D) fund | ||||||
| ▪ from General fund |
106 | – |
– |
106 |
316 |
|
| To Parsonage (D) Fund | ||||||
| ▪ from General fund |
500 | – |
– | 500 | 150 |
|
| To Ruth Gee Improvements(D)fund | ||||||
| ▪ from General fund |
– | – |
– |
– |
9,391 |
|
| 21,383 | 8,660 |
– |
30,044 |
29,814 |
||
| NET TRANSFERS FROM/(TO)OTHER FUNDS | (3,400) | 3,400 | – |
– |
– |
|
7 GAINS AND LOSSES ON INVESTMENTS
| Unre- stricted Funds £ |
Re- stricted Funds £ |
Endow- ment Funds £ |
TOTAL FUNDS | TOTAL FUNDS | ||
|---|---|---|---|---|---|---|
| 2024 £ |
2023 £ |
|||||
| 7(a) | Gains (Losses) on Investment Assets | |||||
| on Revaluation | ||||||
| ▪ Unrestricted Property (D) fund |
(9,662) | – |
– | (9,662) | 990 |
|
| ▪ Poplar Avenue Property (R) fund |
– | (6,000) | – |
(6,000) | 24,000 |
|
| ▪ Churchyard Trusts Capital (E) fund |
– | – | 1,435 | 1,435 |
(37) |
|
| GAINS(LOSSES)ON INVESTMENTS | (9,662) | (6,000) | 1,435 | (14,228) | 24,953 | |
Page 16
St Mary's Lutterworth PCC Notes to the Financial Statements (continued) For the year ending 31 December 2024
8 FIXED ASSETS FOR USE BY THE PCC
| Freehold Land and Buildings1 £ |
Freehold Land and Buildings1 £ |
Church Equipment2 £ |
Church Equipment2 £ |
Total £ |
||||
|---|---|---|---|---|---|---|---|---|
| 8(a) | Tangible fixed assets | |||||||
| ACTUAL/DEEMED COST | At 1 January | 95,000 | 33,271 | 128,271 | ||||
| Disposals | – | 4,906 | 4,906 |
|||||
| Additions at cost | 167,000 | – | 167,000 | |||||
| At 31 December | 262,000 | 28,366 | 290,366 | |||||
| DEPRECIATION | At 1 January | 17,000 | 31,272 | 48,272 |
||||
| Withdrawn on disposals | – | 4,906 | 4,906 |
|||||
| Charge for the year | 2,500 | 500 | 3,000 |
|||||
| At 31 December | 19,500 | 26,866 | 46,366 |
|||||
| NET BOOK VALUE | At 31 December | 242,500 | 1,499 | 243,999 | ||||
| Freehold Land and Buildings3 £ |
Freehold Land and Buildings3 £ |
CBF Investment Account4 £ |
CBF Investment Account4 £ |
Other Securities5 £ |
Other Securities5 £ |
Total £ |
||
|---|---|---|---|---|---|---|---|---|
| 8(b) | Investment fixed assets | |||||||
| Market value–1 January | 346,925 | 11,699 | 20 | 358,644 | ||||
| Net gains (losses) on annual revaluation | ||||||||
| ▪ Churchyard Trusts Capital (E) fund |
– | 1,435 | – | 1,435 | ||||
| ▪ Poplar Avenue Property (R) fund |
(6,000) | – | – | (6,000) | ||||
| ▪ Unrestricted Property (D) fund |
(9,662) | – | – | (9,662) | ||||
| Market value–31 December | 331,263 | 13,134 | 20 | 344,417 | ||||
1 The tangible Freehold Land and Buildings comprises the Church Gate Centre, purchased in September 2006. After major refurbishment during 2023 and early 2024, the property was re-valued. The increase in value was treated as an addition at cost.
2 The Church Equipment comprises Mission Praise hymnbooks purchased in 2004 (half disposed of by 2023); radio microphones purchased in 2007; a printer/copier and an electronic organ purchased in 2012 (the printer was disposed of in 2024); a projector purchased in 2014; a sound mixing desk with stage box purchased in 2016; a projector screen purchased in 2018; and a cooker purchased in 2023.
3 The investment freehold land and buildings comprise 3 Poplar Avenue (estimated value obtained from Zoopla), and a field off Boneham’s Lane near Milords Farm (estimated value provided by the tenant based on the current value of agricultural land in the locality).
4 The holdings in CBF investment account are 568 shares. They are held by the diocese as custodian trustees of various Churchyard Trusts.
5 The other securities are valued at nominal value. They are held by the diocese as custodian trustees of various Churchyard Trusts.
Page 17
St Mary's Lutterworth PCC Notes to the Financial Statements (continued) For the year ending 31 December 2024
9 ANALYSIS OF NET ASSETS BY FUND
| Unre- stricted Funds £ |
Re- stricted Funds £ |
Endow- ment Funds £ |
TOTAL FUNDS | TOTAL FUNDS | ||
|---|---|---|---|---|---|---|
| 2024 £ |
2023 £ |
|||||
| 9(a) | Tangible Fixed Assets | |||||
| ▪ General fund |
1,499 | – |
– | 1,499 | 1,999 |
|
| ▪ Unrestricted Property (D) fund |
78,742 | – |
– | 78,742 | 61,011 |
|
| ▪ CGC Property (R) fund |
– | 163,758 | – |
163,758 | 16,989 |
|
| Total Tangible Fixed Assets | 80,242 | 163,758 | – |
243,999 | 79,999 |
|
| 9(b) | Investment Fixed Assets | |||||
| ▪ Unrestricted Property (D) fund |
47,263 | – |
– | 47,263 | 56,925 |
|
| ▪ Poplar Avenue Property (R) fund |
– | 284,000 | – |
284,000 | 290,000 | |
| ▪ Churchyard Trusts Capital (E) fund |
– | – | 13,154 | 13,154 |
11,719 |
|
| Total Investment Fixed Assets | 47,263 | 284,000 | 13,154 |
344,417 | 358,644 | |
| 9(c) | Current Assets | |||||
| ▪ General fund |
10,470 | – |
– | 10,470 | 15,554 |
|
| ▪ General Reserve (D) fund |
34,941 | – |
– | 34,941 | 44,351 |
|
| ▪ Events (D) fund |
(150) | – |
– | (150) | (150) |
|
| ▪ Flower (D) fund |
721 | – |
– | 721 | 597 |
|
| ▪ Parsonage (D) fund |
613 | – |
– | 613 | 178 |
|
| ▪ Bell (R) fund |
– | 6,108 | – |
6,108 | 5,766 |
|
| ▪ Churchyard Trusts Revenue (R) fund |
– | 1,881 | – |
1,881 | 1,832 |
|
| ▪ Community Action (R) fund |
– | (8,354) | – |
(8,354) | 4,751 |
|
| ▪ Foodbank (R) fund |
– | 235,180 | – |
235,180 | 176,628 | |
| ▪ Freeman (R) fund |
– | 55 | – |
55 | 55 |
|
| ▪ Hardship (R) fund |
– | 6,728 | – |
6,728 | 6,407 |
|
| ▪ Information Technology (R) fund |
– | 1,513 | – |
1,513 | 1,548 |
|
| ▪ Ministry Staff (R) fund |
– | 2,906 | – |
2,906 | 3,677 |
|
| ▪ Mission and Charity (R) fund |
– | – | – | – | 250 | |
| ▪ Organ (R) fund |
– | 11,386 | – |
11,386 | 10,979 |
|
| ▪ Churchyard Trusts Capital (E) fund |
– | – | 1,468 | 1,468 |
1,468 |
|
| Total current assets | 46,595 | 257,404 | 1,468 |
305,467 | 273,890 | |
| 9(d) | Current Liabilities | |||||
| ▪ General fund |
11,969 | – |
– | 11,969 | 5,036 |
|
| ▪ Community Action (R) fund |
– | 807 | – |
807 | 18,573 |
|
| ▪ Foodbank (R) fund |
– | 8,687 | – |
8,687 | 1,242 |
|
| ▪ Ministry Staff (R) fund |
– | 1,068 | – |
1,068 | 56 |
|
| ▪ Mission and Charity (R) fund |
– | – | – | – | 250 | |
| Total Current Liabilities | 11,969 | 10,562 |
– |
22,531 | 25,157 |
|
| 9(e) | Fund Balances | |||||
| ▪ General fund1 |
– | – |
– |
– |
12,517 |
|
| ▪ General Reserve (D) fund |
34,941 | – |
– | 34,941 | 44,351 |
|
| ▪ Buildings (D) fund |
– | – | – | – | – | |
| ▪ Events (D) fund2 |
(150) | – | – |
(150) |
(150) | |
| ▪ Flower (D) fund |
721 | – |
– | 721 | 597 |
|
| ▪ Parsonage (D) fund |
613 | – |
– | 613 | 178 |
1 The General fund would have been in deficit at the end of 2024; this was corrected by a transfer from the General Reserve (D) fund.
2 The Events (D) fund was in deficit at the end of 2023, and remains so at the end of 2024. This was due to having paid the deposit for the 2023 Youth Weekend Away, which has now been indefinitely postponed.
Page 18
St Mary's Lutterworth PCC Notes to the Financial Statements (continued) For the year ending 31 December 2024
| Unre- stricted Funds £ |
Re- stricted Funds £ |
Endow- ment Funds £ |
TOTAL FUNDS | TOTAL FUNDS | ||
|---|---|---|---|---|---|---|
| 2024 £ |
2023 £ |
|||||
| 9(e) | Fund Balances (continued) | |||||
| ▪ Ruth Gee Improvements (D) fund |
– | – | – | – | – | |
| ▪ Unrestricted Property (D) fund |
126,005 | – |
– | 126,005 | 117,936 | |
| ▪ Bell (R) fund |
– | 6,108 | – |
6,108 | 5,766 |
|
| ▪ Buildings (R) fund |
– | – | – | – | – | |
| ▪ Buildings Improvement (R) fund |
– | – | – | – | – | |
| ▪ CGC Property (R) fund |
– | 163,758 | – |
163,758 | 16,989 |
|
| ▪ Chaplaincy (R) fund |
– | – | – | – | – | |
| ▪ Churchyard Maintenance (R) fund |
– | – | – | – | – | |
| ▪ Churchyard Trusts Revenue (R) fund |
– | 1,881 | – |
1,881 | 1,832 |
|
| ▪ Community Action (R) fund1 |
– | (9,161) |
– | (9,161) |
(13,822) | |
| ▪ Covid Crisis Action (R) fund |
– | – | – | – | – | |
| ▪ Foodbank (R) fund |
– | 226,493 | – |
226,493 | 175,386 | |
| ▪ Freeman (R) fund |
– | 55 | – |
55 | 55 |
|
| ▪ Hardship (R) fund |
– | 6,728 | – |
6,728 | 6,407 |
|
| ▪ Information Technology (R) fund |
– | 1,513 | – |
1,513 | 1,548 |
|
| ▪ Ministry Staff (R) fund |
– | 1,839 | – |
1,839 | 3,621 |
|
| ▪ Mission and Charity (R) fund |
– | – | – | – | – | |
| ▪ Organ (R) fund |
– | 11,386 | – |
11,386 | 10,979 |
|
| ▪ Poplar Avenue Property (R) fund |
– | 284,000 | – |
284,000 | 290,000 | |
| ▪ Churchyard Trusts Capital (E) fund |
– | – | 14,621 | 14,621 |
13,187 |
|
| Total Fund Balances | 162,130 | 694,600 | 14,621 |
871,352 | 687,377 | |
10 DEBTORS
| 2024 £ |
2023 £ |
|||||
|---|---|---|---|---|---|---|
| Income tax recoverable2 | 10,781 | 13,819 | ||||
| Prepayments | 4,301 | 4,480 | ||||
| Other Debtors | 4,802 | 3,191 | ||||
| 19,885 | 21,489 | |||||
| 11 LIABILITIES FALLING DUE WITHIN ONE YEAR | ||||||
| 2024 £ |
2023 £ |
|||||
| Creditors for goods and services | 17,506 | 22,269 | ||||
| Other Creditors | 5,025 | 2,888 | ||||
| 22,531 | 25,157 | |||||
1 The Community Action (R) fund was in deficit at the end of 2023. The deficit was reduced in 2024 and continues to reduce as regular income exceeds regular expenses.
2 One claim (for the year 2021) and two claims (for the year 2022) were made and received in 2023, with £14,412 recovered. One claim (for the year 2023) was made and received in 2024, with £13,946 recovered.
Page 19
St Mary's Lutterworth PCC Notes to the Financial Statements (continued) For the year ending 31 December 2024
12 GRANTS POLICY AND RECIPIENTS
The collections at certain services are announced as being for specific missions or charities. The PCC also occasionally receives donations earmarked for specific missions or charities. All such funds are sent to the specified recipient.
In 2018 the PCC started a 3-year commitment to support two missionary families in Africa and Spain, through the Crosslinks organisation. This has been extended four more years to 2024
In 2022 two members of the church began training for overseas mission. The PCC is supporting them financially during their training period, which is currently expected to be three years.
From time to time the PCC organises or hosts events to raise funds for specific missions or charities.
From time to time the PCC makes grants to specific missions or charities, in response to requests for donations.
From time to time the PCC makes grants to individuals, to assist in cases of hardship, using funds given for that purpose.
Recipients are detailed below.
Recipients
| 2024 £ |
2023 £ |
|||||
|---|---|---|---|---|---|---|
| Bishop's MES Bursary Fund | 100 | – | ||||
| Community of the Tree of Life | – | 100 | ||||
| Crosslinks Milsom | 3,000 | 3,000 | ||||
| Crosslinks Moody | 3,000 | 3,000 | ||||
| Sam & Bianca Duffin (Mission Training) | 12,000 | 16,450 | ||||
| UFM Worldwide–Kairos (Ukraine refugees) | – | 0 | ||||
| Leicester DG Bell Restoration Fund | 25 | 25 | ||||
| RBL Poppy Appeal | – | 29 | ||||
| Mothers'Union | 15 | – | ||||
| The Children's Society | 72 | – | ||||
| Rye Hill Prison staff Easter gifts | 52 | – | ||||
| Individuals (Social Need) | 20 | 20 | ||||
| 18,284 | 22,624 | |||||
13 SOCIAL ACTION
As well as the charitable giving described above, the PCC operates a Foodbank affiliated with the Trussell Trust. Grants were paid to the national charity to assist with their work in providing the central support for this activity, but have been suspended by the Trust since 2021. Food and other necessities received mostly as donations in kind are distributed to clients requesting assistance, with some going to other charities or to waste
Recipients
| 2024 £ |
2023 £ |
|||||
|---|---|---|---|---|---|---|
| Clients | 68,462 | 88,360 | ||||
| Other charities etc. | – | 613 | ||||
| Out of date and spoiled | 1,360 | 1,741 | ||||
| 69,822 | 90,715 | |||||
Page 20
St Mary's Lutterworth PCC Notes to the Financial Statements (continued) For the year ending 31 December 2024
14 FUND DETAILS
The restricted funds comprise:-
The Bell (R) fund. This consists of funds given for the purpose of maintaining the Church Bells.
The Buildings (R) fund. This consists of old funds held for the purpose of maintaining the Church Properties (3 Poplar Avenue and the Church Gate Centre), and for maintaining and improving Church Facilities. In 2023 the fund was exhausted and closed.
The Buildings Improvement (R) fund. This consists of funds raised for the purpose of major improvements to the Church and Church Gate Centre. In 2023 the fund was exhausted and closed.
The CGC Property (R) fund. This represents that part of the value of the Church Gate Centre which was bought using funds released through the sale of the old Church Hall and the part of its refurbishment using restricted funds.
The Chaplaincy (R) fund. This consists of funds received for the purpose of supporting the Chaplain in Lutterworth College. Use of this fund was discontinued in 2020 when the Chaplain was directly employed by the College. It was closed in 2024 after a donation was received to replace an uncollectable expired grant.
The Churchyard Maintenance (R) fund. This consists of funds received by grant and donation for the purpose of maintaining the churchyard
The Churchyard Trusts Revenue (R) fund. This consists of accumulated income from the Churchyard Trusts Capital (E) fund, to be used for maintenance of the churchyard.
The Community Action (R) fund. (formerly the Community Centre (R) fund). This consists of funds raised by grant and donation for the purpose of refurbishing the Churchgate Centre and transforming it into the Churchgate Community Centre. After the refurbishment was complete, the fund’s scope was expanded to include running the Centre and other Community Action work
The Covid Crisis Action (R) fund. This consists of funds received by grant for the purpose of supporting people sheltering and shielding during the Covid19 pandemic. In 2022 the residue of this fund was re-purposed to more general community related projects. In 2023 the fund was exhausted and closed.
The Foodbank (R) fund. This consists of funds raised for the purpose of setting up and running the Lutterworth and Villages Foodbank
The Freeman (R) fund. This consists of funds given for the purpose of re-gilding the letters and figures and heraldic arms on and generally maintaining in good order and condition the “Freeman” tablet in the chancel of the Church.
The Hardship (R) fund. This consists of funds given to assist in cases of hardship. It was formed in 2012 on the closure of two small local charities for the poor, and subsequently augmented by other donations.
The Information Technology (R) fund. This consists of funds given for the purpose of providing computing, communications and multimedia equipment for the Church.
The Ministry Staff (R) fund. This consists of funds raised for the purpose of employing paid staff in the Church’s various ministries, including but not limited to Assistant, Children and Families, and Youth work.
The Mission and Charity (R) fund. This consists of funds raised through collections at particular services, and by appeal or donation, specifically to be given to missions and charities.
The Organ (R) fund. This consists of funds given for the purpose of maintaining and restoring the Church Organ.
The Poplar Avenue Property (R) fund. This represents the value of 3 Poplar Avenue, since it was originally purchased as a Curate’s House, using the proceeds of the sale of Havelock House, which had been given to the PCC as a Curate’s House
Page 21
St Mary's Lutterworth PCC Notes to the Financial Statements (continued) For the year ending 31 December 2024
The endowment fund comprises:-
The Churchyard Trusts Capital (E) fund. This is a collection of small trusts the income of which is to be used for the maintenance of the churchyard. This fund is held by the diocese, and the income from it is paid into the Churchyard Trusts Revenue (R) fund.
The unrestricted funds comprise the General fund, and the following designated funds:-
The General Reserve (D) fund. This consists of funds set aside by the PCC as a reserve to cover various contingencies as detailed in the Reserves Policy
The Buildings (D) fund. This consists of funds designated by the PCC from the General fund, for the upkeep of the various buildings. This fund was exhausted and closed in 2023.
The Events (D) fund. Some events organised by the PCC (such as Parish Weekends Away) involve significant income and expenditure, but are largely self-financing, or are for fund-raising purposes but have related costs. Sometimes the income and expenditure may be in different years. This fund is used to separate such monies from routine income and expenditure, with any surplus or shortfall transferred to or from the general fund.
The Flower (D) fund. This consists of funds designated by the PCC from the General fund, for the purpose of buying flowers to decorate the Church, including donations for Easter Lilies
The Parsonage (D) fund. This consists of funds designated by the PCC, for the purpose of maintaining the decoration of the Parsonage House (Rectory) and providing for minor repairs and maintenance. This fund was opened in 2021 by transfer of the balance of the Parsonage (R) fund on its closure
The Ruth Gee Improvements (D) fund. This consists (initially) of half the legacy received from Ruth Gee, designated by the PCC for the purpose of improving facilities in the Church. This fund was exhausted and closed in 2023.
The Unrestricted Property (D) fund. This represents the value of property which does not have restrictions on it. It currently includes that part of the value of the Church Gate Centre which was bought and refurbished using unrestricted funds, and the field off Boneham’s Lane.
Page 22
St Mary's Lutterworth PCC Notes to the Financial Statements (continued) For the year ending 31 December 2024
15 FUNDS HANDLED BY THE PCC AS AGENT FOR THIRD PARTIES
Fees due to the Diocesan Board of Finance are received by the PCC, and forwarded to the DBF after deducting amounts claimed by Readers and non-stipendiary Clergy. From time to time, other fees are received by the PCC and passed on to other PCCs in the area (usually Bitteswell and Cotesbach), or to the organist, verger, etc. at weddings and funerals. Occasionally, the PCC acts as agent for other PCCs in the area, or for individuals, in the purchase of goods such as altar supplies and stationery. Although these funds do not come under the accounts of the PCC, they are recorded here for information.
| 2024 £ |
2023 £ |
|||||
|---|---|---|---|---|---|---|
| INCOMING RESOURCES | ||||||
| Fees Due to DBF | 8,361 | 7,236 | ||||
| Local Fees (not PCC) | 3,769 | 4,267 | ||||
| Other Transit Fees | 4,760 | 1,783 | ||||
| Other Transit receipts (not fees) | 195 | 1,637 | ||||
| Miscellaneous Adjustments | – | 733 | ||||
| TOTAL INCOMING RESOURCES | 17,085 | 15,656 | ||||
| RESOURCES EXPENDED | ||||||
| DBF fees claimed by Readers etc. | 668 | 598 | ||||
| DBF fees to Diocese | 7,693 | 6,638 | ||||
| Local Fees (not PCC) | 3,769 | 4,267 | ||||
| Other Transit Fees | 4,760 | 1,783 | ||||
| Other Transit Payments (not fees) | 195 | 1,637 | ||||
| Debts written off | – | 733 | ||||
| TOTAL RESOURCES EXPENDED | 17,085 | 15,656 | ||||
| NET MOVEMENT IN FUNDS | – | – | ||||
| BALANCE BROUGHT FORWARD AT 1 JANUARY |
– | – | ||||
| BALANCE CARRIED FORWARD AT 31 DECEMBER |
– | – | ||||
| CURRENT ASSETS | ||||||
| Debtors | 445 | 584 | ||||
| Cash and Bank Accounts | (295) | 505 | ||||
| 150 | 1,089 | |||||
| LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR |
||||||
| Creditors | 150 | 1,089 | ||||
| 150 | 1,089 | |||||
| NET ASSETS | – | – | ||||
Page 23
Independent Examiner's Report to the PCC of St. Mary's, Lutterworth This Report on the fmancial statements of the PCC for the year cnded 31 st December 2024. which are sct out on pages I to 23. is ID respect of an examination carried out in accordance with the Church Accounting Regulations 2006 ('th¢ R¢gulations") and Section 132 of the Clwities 2011 ("the Act"). Respective responslbilities of the PCC and the Exydminer As members of the PCC you aTe responsible for the preparation of the financial statements" you consider that the audit requirements of the Regulations and Section 144(2) of the Act do not apply. It is my responsibility to issue this Report on those financial statements in accordance with the tern]s of Regulations. Basis of Independent Examiner's Report My examination was carri¢d out in accordance with the General Directions giv by the Charity Conunission, That examinatloll includes a review of the accounting records kept by tbe PCC and a comparison of the accounts with those records. It also includes considering any unusual items or disclosures in the financial statements and seeking explanations from you as trustees concen]ing any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. Independent Examinergs Statement In connection witb my examination, no matters have come to my attentioll.. (i) which giv¢ m¢ reasoDabl¢ cause to believe that in any material respect the requirnents to keep accounting record8 in accordance with Section 130 of the Act. and to prepare financial statements, which accord with the accounting records and comply with the requirements of the Act and the Regulations havc not been met. or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Caroline Dexter Bsc (Hons). FCA For And On Behalf of Barkers Accountants Limited Chartercd Accountants and Statutory Auditors Street Ashton Farnthouse Stretton under Fosse Rugby Wanvickshire CV23 OPH 15 April 2025