THE CHURCH OF ST. PETER MANCROFT ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Registered Charity Number 1134653 .t)
THE CHURCH OF ST. PETER MANCROFT REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Contents Pag• Report of the Parochial Church Councll Auditorfs report 8-10 Slat8m¢nl of Financial A¢livitK*s Balance Sheet 12 Stslement of Cash flows 13 Notes lo Ihg Financial Statements 14-31
THE CHURCH OF ST. PETER MANCROFT REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2022 The Parochial Church Council IPCC} presents ils arsnual report and the audited financial statements of the Church for the year ended 31 December 2022. The financial slalemonts have been prepared in accordance with the accounting policies sel out in notes to the accounts and comply with the chaTity's governirbg do¢umenl. the Church Accounting Regulations 2006 and Accounting and Reports'ng by Charities.. Slalamenl of Recommended Practice applicable to charities preparing their accounts in accordance with the thè Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Charities Act 2011 and UK Generally Accepted Accounting Practice. Reference and admlnlstrallve inforniation Roglstored charfty name The Parochial Church Council of the Ecclesiastic31 Parish of St. Peter Mancroft with St John Maddermarkel. Norwich Other names Sl. Peter Mancroft PCC. Nol¢h Charlty number 1134653 E¢¢l•sia$ti¢al parish {Beneficel Sl. Peter Mancroft with Sl. John Maddermarkel, Norwich Church address Hay Hill Norwich CorKo$pondon¢• addr•ss Church Office The Chantry Norwich NR2 1QZ Incumbent The Revd Canon Edward Carter 37 Unlhank Road Norwich NR2 2PB A¥soclato Prlest The Revd Dr Fiona Haworth Assistant Priest The Rèvd Dr Loma Allies luntil 2 January 20221 Curntt The Revd Naomi Tuma Ifrom 26 June 2022} Ll¢•nsod R•ad•rs Gill Perslcke Catherine Waddams (from 7 August 20221 Churchwardens Peter Threadkell Helena Carr Elected Momr¥ Sue Dartnell Stephanie Grant (Secretary unts'l 12 May 20221 Julian Haggett Dr Emma Harrold (Secretary from 12 May 20221 L8onard Hobson (from 12 May 20221 James Hughes (from 12 May 20221 Fran Jackson Gillian Knox Geoffrey Load8s CBE ITreasur8rl Janet Steele Anne Tansley-Thomas Richard Wilson (Chair Asset Management Committee)
THE CHURCH OF ST. PETER MANCROFr REPORT OF THE PAROCHIAL CHURCH COUNCIL (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Reference and admlnlstrative information (continued) Elected Membors Icontinuedl Geoffrey Woolsey-Brown Fabric Officer Nick Jackson Representatlv•$ on NoThvl¢h Ea¥t Deanery Geoffrey Loade5 Geoffrey Woolsey-Brown Janel Steele Bankers Barclays Bank PLC Sl Stèphens Branch 517 Red LK>n Street Norwich NR3 3QH CAF Bank Ltd 25 King's Hill Avenue King's Hill Wesl Malling Kent ME19 4JQ Sollcltors Howes Per¢ival Flint Buildings 1 Bedding Lane Norwich NR3 1RG Chartered surYoyoYs and valueTS Arnolds Keys 2 Prince of Wales Road Norwich NR1 1LB Architects Ms Ruth Blackman Birdsall, Swash and Blackman High House Farm Beeslon - nexl- Mileham Kings Lynn PE32 2NF Investment advlsers Barratt & Cooke 516 Opie Street Norwi¢h NR13DW Reglstered audltor Lovewell Blak8 LLP Bankside 300 Peachman Way Broadland Business Park Norwich Norfolk NR7 OL8
THE CHURCH OF ST. PETER MANCROFT REPORT OF THE PAROCHIAL CHURCH COUNCIL (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Aim and purposos The primary object of the PCC Is the promotion of Ihe Gospel of our Lord Jesus Chrlst ac¢ording lo thg doclrin&s and practsces of the Church of England. The PCC is quired to Cl>OPgrate with the minister in promoting in the parish the whole mi?sion of the Church. pastoral. evangelistic, social and gcumenical. Objèctives and actlvltlès Publlc Beneflt The PCC is 8warg of the Charity Commission guidance on public benofil. 11 is also aware of tho suppl6menlary guidance ralating lo religious charities. The PCC promotes the whole mission of the Church through the following aclivilles - regular public worship open lo all,. the provision of sacred space for peisonal prayer anil contgmplalion., pastoral work, including visiting th sick and Ihg bgr8av8d'. 18aching of Christianity through sermons, ¢OLJrses and small groups.. promotion of Chiislianity through th8 staging of events and meetings, and the dislribulion of li18raluro', promotion of the whole mission of the Church through activities for senior citizens, parents and toddlers and other special need groups.. supporting other charilles In the UK and overseas- promotion of an interest in music through concerts and rocilals. the training of Choristers and organ scholars- and the provision of Christian hospitality. refreshment and In"endship lo visitors. enquirers and othgrs. Achievements and perfomiance Electoral Roll There were 109 people on the Church Electoral Roll as at March 2022 {2021.' 1111. Rovi8w of the Year In 2022 St Peter Mancroft Church gradually emerged from the worst effects of the Covid-19 pantl&mic, although some precautions have remained in place throughout the year. Some things have now changed permanently, for example the live-streaming of the 10.DOam Sunday service each week. and during the year the chalice was not shared amongst the congregation al Communion services. Refreshments after the main Sunday service r started in February. using the O¢t890n. Highlights of the year have included major concèrts promoted by the Church, 81 whh Sheku K8nneh-Mason and Isala K8nneh-Mason perfomed respectively. These were both an artistic and a commercial success, and Tellect the gfowing importance of St PeteT Mancroft as a venue for concerts and events. Olher very significant moments have been the visit of John 8&11 in February. the Street Passion Play on Eastsr Eve in April, the c8lebration of th8 aue8n's Platinijm Jubila• in May. thè r8spDnse to the sad death of OuÈen Elizabèth 11 in Septgmber which included the muffling of the bells for the first tsm8 in 70 years, the return of the Original Norwich Charity Chrisimas Card Shop in October, 'The Leaves of Ibe Trees. art instsllalion in November, and the Rotary Christmas Tree Festival in December. All of these moments have seen large numbers of people visiting the Church building. Alongside these highlights has been the daily commitment to keeping the Church doors open lo visitors, and the regular pattern of worship on Sundays and in the week, with fine contributions from the church's musicians and bellringers. The Ministry Team comprised of the Vicar (Revd Canon Edward Carterl, the As50ciale Priest (Revd Dr Fiona Haworthl, the Assistant Curate IRevd Naomi Tuma} who arrived in June following her ordination as a dea¢on, two Lay Readers (Gill Persicke, and Catherine Waddams who was licensed to Mancroft in August), and Jordan Kay (until July} and George Allin (from September) on the 'Crealing Space for God, ministry experience $cheme. During 2022 Edwafd Carter also serv8d as Rural Dean of the Norwich East Deanery.
THE CHURCH OF ST. PETER MANCROFr REPORT OF THE PAROCHIAL CHURCH COUNCIL (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Achlevomonts and porfomianco {¢ontinued) During 2022 Michael Winter left his post as Communications Officer for a new job in Lowesloft, and Molly stanners Putland was appointed as his replacement. After Easter the churcth's Director of Music, Jody James, returned from maternity leav8. her role having been covered by Rob Goodrich during htsr absence. Of great sadness lo the church this year was the news of the death of Archdeacon lan Bentley al the end of May. lan had been interim Priest-inwcharge of Sl Peter Mancroft for a year in 2017118. Flnan¢ial Review The operational result for 2022 was a deficit of £18.40412021= deficit £280.779 which included major expenditure on the roof proiectl. This outcome was affected by the SnifICant impact upon many costs following the increase in energy Prices and their knock on effect in other areas of expènditure and probably in collections and donations. We did have a fixed ntract on electricity but not on gas which meant some of the effect was limited. 2023 will see the challenges continue although some helpful support lo Parishes is being provided by the Diocese. The final result bgnefilted from an improv$d surplus on gvenls of over £15,000 and increased hire of the Church of around £14,000. Undoubltrdly the investment made in improving the East End of the Church combined with the increased focus on ils use has contributed to its attractiveness for events. The result also benefitted by a provision brought forward from 2021 for the roof repairs being greater than anticipated and £12,500 being released. stewardship income did increase by about 10Vo following the renewal campaign in the Aumn of 2021 and this planned giving continues to be an important factor in supporting our Ministry. Collections and donatlDns together were al about the same level as 2021 but disappointingly much less than anticipated at the beginning of the year. The Cost of living will have had an impact in this regard. There were no particular effects on expenditure other than refeThed lo above. Outward giving did, however, reduce as the grant made to MAP wes, as planned. lower. The movernenl on investments in the year was a loss of £47,709 12021.. gains of £69.5761. This added lo our deficit on operations results in an overall loss for the year of £66,11312021.' loss of £211,203}. ReseNes although reduced are still at a healthy level bul il is important that we seek ways to strengthen them. The efforts lo increase income from increased use of our resources and the hoped for reduth'on in inflation should assbst in this objective. Grants Charitsblg Giving includes a notional grant paid to the Norwich Food Bank reflecting their use of the Chantry Hall twlc& è week. Hire of Chantry Hall includes that notional amount which roughly equates to the income which could otherwise have been generated. Also included is a grant lo the Mancroft Advice Project which continues the phasing in of an increase in their rental paid lo the Mission Hall Trust Inv•stm•ntpoll¢y The Council seeks lo achieve a balanced return between capital growth and a reasonable retum of income in excess of inflation. The need lo preserve endowmènt moni8s is recognis8d and the Church of England's ethical policy on investments is followed as far as possible.
THE CHURCH OF ST. PETER MANCROFr REPORT OF THE PAROCHIAL CHURCH COUNCIL (CONTINUED> FOR THE YEAR ENDED 31 DECEMBER 2022 Financial Reviow (continued) ReseThes poll¢y The Church aims to ¢over normal expenditu by règular income. On thosg oc¢a$ions incoma dogs not moet expenditure, the deficit will be drawn from reserves. Free reseNes al 31 December 2022 were £159,14312021'. £201,873>. These consist ol unrestricted gengral funds, excluding tangible fixed assets. There are also designated reserves of £48,718 12021: £46.4811 which consist of monies set aside for specific purposes. Resgrvos are maintained partly lo generate investment income. parUy for Specific projg¢ts, and partly to provide a contingon¢y fund for emergency use. Restricted reserves totalled £222,816 {2021.. £217,346) al 31 December 2022. Prln¢lpal fundlng sources The PCC'S main sources of income are voluntary income in the form of planned giving {slèwardship). coll8Ctlons, donations, grants. leg8cles, letting of Ihe building and events and investment income. Grants received from the Mission Hall Trust la separately wgislered charity) are used lor repa and capitsl works al the Chanty Hall and Church Offices and lo offset shortfalls in unreslricled income Grants received from the Vicarage Trust la sepaTalely registered charity) are used to pay ¢lergy expense5 and lo off-?¢t shortfalls in unrestricted income. Grants from Aderman John Risebrow's Charity la separalely registered charity and reslricled fijndsl are used to meet the cost of the work with young people, including musical aclivilies. The PCC nominates fv40 Iruslees lo serve on the Trust in addition to the incumbent who is ex-officio. Without these very generous grants, we would be quite unable to maintain Mancroft's musical tradition and the youth work now being undertaken. Plan5 for future perlods Plans for 2023 include continuing to improve wherever feasible our carbon foolprinl. We will also be seeklng further ways lo develop the use of our buildings through increased lettings and events. Our reserves continue lo need lo be further strengthened to enable us lo carry out furth8r developments in the Church such as improved ighting. Structure, governanco and managoment Legal Status The PCC is a corporate body estsblishèd by the Church of England and operates under the Par(thial Church Council Powers Measure. The PCC was registered with the Charity Commission on 4 March 2010 with regislration number 1134653. The Church is classsfied as a charity under thè Places of Worship Registration Act 1855. Members of the PCC are Trusleas of the Charity. RruItment and appointment of members of the PCC Members of the PCC are either ex-officio or elected by the Annual Paroehial Church Meeting IAPCMI in accordance with Church Represenlallon Rules. In addition. the PCC may also co-opt individuals in accordance with the aforementioned rules.
THE CHURCH OF ST. PETER MANCROFT REPORT OF THE PAROCHIAL CHURCH COUNCIL (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Structure. governance and managoment {continuod} Induction and tralnlng of members of the PCC New members receive no specific training but are elected or COvOPted on a¢cwnt of Ih8lr knowledge of and contribution to the work of the Chuich. Organlsatlonal structure Th8 PCC m86ts about six to eight times per y8ar and has established a Standing Committe8 8niJ an Asset Managemant Committee which meet belwgen PCC meetings. Temporary Vvorking Groups meet as and when required and deal with various aspects of the life of the Church. Standing Committee This is the only committ88 requlred by law. Its ststulory members are the Vicar, Churchwardens, and elected members of the PCC. In the year our Standing Committee has consisted of the Vicar in charge, Churchwardens, PCC Secretary, PCC Treasurer and the Chairman of the Asset Management Committee. This Committee has the power to transact urgent business of the PCC between ils meetings. subject lo any directions given by the Council. It also dea18 With the terms ol engagement of staff. Assel Management Committee This commillee is responsible to the PCC for the general oversight of the Church's finances and protberty. 11 monitors the PCC'S income and expenditure, submts an annal budget and annual accounts to the PCC, seeks advice on the PCC'S investments and insurances. implements the PCC'S policies in respect of the managernonl of ils properties, authorises all reasonabl8 routino 8xp8nditure within the approv8d budget and monitors and rèviews the PCC'S risk manag8m8nl policy. Related Partles The PCC receives grants from the Mission Hall Trust and the V¢carage Trust. PCC member Geoffrey.L08des is a Trustee and the Vicar attends meetings of the Vicarage Trust. The Revd Canon Edward Carter. Peter Threadkell and Helena Carr are TTUStees of the Mission Hall Trust. The PCC also receives grants from Aldemian John Risebrow's Charity of which PCC members The Revd Canon Edward Cartgr, Geoffrey.Loades and Catherin8 Waddams are Truslges. The PCC Charges Mancroft Advice Proje¢l for ils share of a¢¢ommodalion gxpensgs and for additional room hire. PCC member The Revd Canon E(hvard Carter is a Iruslee of Mancroft Advice Project. Risk Manag•m•nt The PCC acknowledges Ihat il is responslble for risk management. The PCC has idenlrfied possible operats'onal, financial, strategic and external risks which are assessed and reviewed periodically lo enable the appropriate action to be taken to deal with them.
THE CHURCH OF ST. PETER MANCROFr REPORT OF THE PAROCHIAL CHURCH COUNCIL (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Parochlal Church Council responsibilities The PCC members are responsible for preparing the Rew)rt of the Parochial Church Council and the financial slalements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. The law applicable lo charities in England and Wales requires the PCC members to prepar8 financial statements for each financial year which give a Iwfr and fair view of the state of affairs of the PCC and of th8 incoming TesoLsrces and applI110n of resources of the PCC for Ihal p8riod. In preparing these financial slalements, the PCC members are required to.. selecl suitable accounting policies and then apply them consistently: observe the methods and principles in the Charities SORP 2019 IFRS 1021., make judgerner)ts and estimates that are roasonable and prudent., slate whether applicable accounting standards have been foll¢)wed. subj8cI lo any material departures disclosed and explained in the financial statements,. prepare the financial stslemonls on the going concern basis unless it is Inappropriatè to presume that th8 PCC will continue in operation. The PCC members are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the PCC and enable them to ensure that the financial slalements Comp with the Charities Act 2011, the Charities (Accounts and Rtsports} Regulations 2008 and the Church Accounting Regulations 2006 and the provisions of the PCC measure. They are also responsible for safeguarding the assets of the PCC and hence for taking r8asonabl8 Steps for the prevention and deleGlion of fraud and othar Irregularities. The financial statemgnls have been preparèd lo giv8 a "true and fair" view and we have depart8d from the Charities (Accounts and Reports) Regulations 2008 only lo the exlenl required to provide a "true and fair view" This departure has involved the Accounting and Reporting by Charities.. Slalement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 issued in O¢tober 2019 rather than the Accounting and Reporting by Charities- Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Audltor A $OlUtion proposing that Lovewell Blake LLP be reappointed as auditor of the charity will be pul lo the Annual Parochial Church meeting. Thanks Sl Peter Mancroft would be unable lo carry oul its vibrant role in the heart of the City without our Staff and many volunteers. We give our warm thanks lo all for Iheii much valued contribution. On behalf of the Parochial Church Council Revd Canon Edward Carter Dat8..
THE CHURCH OF ST. PETER MANCROFr INDEPENDENT AUDITOR'S REPORT TO THE PCC MEMBERS OF THE PAROCHIAL CHURCH OUNCIL OF THE CHURCH OF ST. PETER MANCROFr YEAR ENDED 31 DECEMBER 2022 Oplnlon We have audited the financial statements of the Church of Sl Peter Mancroft for the year ended 31 December 2022, which cornprists the Slalement of Financial Aclivilies, the Balance Sheet, the statement of Cash flows and notes lo the financial statements, including signrficant accounting policies. The financial feporting framework that has been applied in their prèparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Stsndard applicable in the UK and Republic of Ireland (Unrted Kingdom Generally Accepted Accounting Practice). In our opnion the firbancial slalemenls.. give a trLte and fair view of the slate of the PCC'S affairs as at 31 December 2022, and of its incoming resources and application of resources, including ils income and expenditure, for the year then ended- have been propèrty prepared in accordance with United Kingdom Generally Accepted Accounting Practice-, and have been prepared in accordance with the Charities Act 2011 and the Church Accounting Regulations 2006. Basls for opinion We conduclod our audit in accofdarte with Inl8mational Stsndards on Auditing IUK} IISAS {UKI) and applicable law. Our responsibilities under those standards are further described in the Audilorfs responsibilities for the audit of th8 financial statemènts sgclion of our report. We are independent of the charity in accordance with thè ethical requlremenls that are levant lo our audit of th8 financial slalemenls In the UK, including the FRC'S Ethical Siandard, and we have fulfilled our other ethical responsibilities in accordance with these Tequirem&nts. e believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to going concern In audib'ng the financial slalemen15, we have concluded that the PCC members, use of the going concem basis of accounting in the preparab'on of the financial slalemenls is appropriate. Based on the work wg have porfomied. WB havg not identified any material uncertainties relating lo evenls or conditions that. individually or collectively, may cast significant doubl on the charity's abilty lo continue as a 99ing ¢on¢em for a period of al least tsvelve months from when the financial statements are authorised for issue. Our responsibililias and the fesponslbllllies of the PCC members wllh respect lo going concern are described in the relevant sections of this report.
THE CHURCH OF ST. PETER MANCROFT INDEPENDENT AUDITOR'S REPORT TO THE PAROCHIAL CHURCH COUNCIL OF THE CHURCH OF ST. PETER MANCROFT (conlinuedl YEAR ENDED 31 DECEMBER 2022 Other inforrnation The other information comprises Ihe information included in the annual report, other than the financial slalements and our auditor's report Ihereon. The PCC members are responsible for the other informalion contained within the annual repori. Our opinion on the financial ststemenls does not cover the other inloTrnation and, exp1 to the exlenl otherwise explicitly slated in our report, we do not trxpress any form of assurance conclusion thereon. Our responsibility is lo read the other information and. in doing so. consider whether Ihe other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or olheNise appears to be materially misstated. If we i¢Jentify such material inconsistencies or apparent material misstatements, we are required lo determine whether this gives rise to a material rnisststemenl in the financia statements themselves. If, based on the work we have performed, we conclude that there is a material misstslemenl of this other information, we are required to report that facl. We have nothing lo report in this regard. Matters on whlch we ar• requlrad to roport by exceptlon We hav8 nothing to report in r9specl of the following matters in relation lo which th8 Charities lknounts and Reports} Regulations 2008 and Church Accounting Regulations 2006 qUIreS us lo rèport to you rf, in our opinK)n.' the information giv8n in the financial statemènts is Inconsisl8nl in any material r8SP8Ct with the annual report., or the charity has not kept adequate accounllng records., or the financial statements are not In agreement with the accounting records and returns., or we have not received all the infomiation and explanations we require for our audit. Re$pon$lbllltfjès of the Parochlal Church Councll m•mb•rs As explained more fully in the PCC'S Responsibili(ies Ststemenl {set out on page 71. the PCC rnembers are responsible for the preparation of financial statements and for being satisfied that they give a true and fair view, and for such ini8mal control as the PCC members Oelermine is necE55ary to enable the pweparalion ol financial statements thal are free from material misstalemenl. whether due to frau(J or error. In preparing the financial st8tements, the PCC members are responsible for assessing the PCC'S ability lo conlinve as a going concern. disclosing, as applicable, matters related to going conrn and using the going concern basi5 01 accounting unl8SS the PCC members either intend lo liquidate the PCC or lo cease operations. or have no realistic allernalive but to do so. Auditorfs r•sponsibllltl•s for the audlt of th• linancial statements We have been appointed as auditors under section 145 of the Charities Arl 2011 and report in accordance with the regulations made under Sedion 154 of that Act.
THE CHURCH OF ST. PETER MANCROFT INDEPENDENT AUDITOR'S REPORT TO THE PAROCHIAL CHURCH COUNCIL OF THE CHURCH OF ST. PETER MANCROFf {¢ontlnued) YEAR ENDED 31 DECEMBER 2022 Auditor's responsibilitie$ for th¢ audlt of th• flnan¢lal statements Icontinuedl Ovr objeclivgs are lo obtain reasonable assurance about whether thg financial statements as a whole are free from mat•rial miggtatement. whether du8 to fraud or error. and to ISSl18 an auditnr's r&port that includes our opinion. Reasonable assuran is a high level of assurance, bul is not a guarantee that an audit condu¢led in accordance with ISAS IUKI will always delect a material misstalemenl when it exists. Misstalemenls can arise from fraud or error and are considered material if, individually or in the a9gregale, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial slalemenls. Irregularities, including fraud, are instsnces of non-compliance wlh laws and regulations. Wg design procedLsres in line with our spOnsIbl11t1es, outlined above, lo delecl material misslalemenls in respect of irregularities, including fraud. The specific pro¢8dures for this engagement and the exlenl to which these are capable of detecting irregularities. including fraud is detailed below.. Enquiry of management and Ihose charged with governance and review of the minules of PCC meetings that look place throughout the year- Enquiry of entity staff compliance functions lo idenlfy any instances of non-compliance with laws and regulations.. Reviewing financial statement disclosures and testing to suppOng documenlation lo assess compliance with applicable laws and regulations. Porforming audit work ovgr the risk of management OV8rride of Controls. including ttIng of joumal entries and other adjustments for appropriateness, evaluating the rationale of significant transactions outside the nomial course of activities and reviewing accounting estimates for bias. 8ecause of the inherent limitations of an audit, there is a risk that we will not delecl all irregularrti8s, including those loading to a material misstatement in the financial statements or non-¢omplian¢e wilh regulation. This risk increases the more that compliance with a law or regulation is removed from the evonts and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularits'es occurring due to fraud rather than error, as fraud involve$ Intentional concealment, forgery, collusion, omission or mlsrepresenlalion. further description our iespon5ibsltties is available on the FRC'S https.'Ilwww.fr¢.org.uklauditorslaudit-assurance•ethicslaudilors-r8sponsibilities-for-the-audil. Thi5 forms part of our auditor's report. Use of our report Thi5 report is madè solely lo the PCC Members. as a body. in 8¢cord8n¢e with Part 4 of the Charit$ (Accounts and Reports) Regulations 2008 and the Church Accounts'ng Rcgulations 2006. Our audit work has be&n und&rtaken so that we might slate lo the PCC members those mallers we are required lo state lo them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do nol accept or assume responsibility lo anyone other than thg PCC and the PCC'S member5 as a body, for our audit work. for this report. or for the opinions we have formed. websile al.. description Lov8well Blake LLP Slalulory Auditor Bankside 300 Peachman Way Broadland Business Park Norwich Norfolk NR7 OL8 0310712023 Lovewell 818ke LLP is eligible to a¢1 as an auditor in terms of Section 1212 of the Companies Act 2006. 10
THE CHURCH OF ST. PETER MANCROFT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022 Vnrestrlctgd Restrictod Endowment lund$ funds funds Total 2022 Total 2021 Not*6 In¢ome and endowrn•nts from: Donatlons and1ggaci8s Acliviti8s for generating lunds Income from investments Church activities other incom8 21al 2{bl 21cl 21dl 21e} 193,018 102,624 6.847 10.941 78,906 9,785 6,335 271,924 112,409 21,741 10,941 397.034 28.330 24,039 8,864 7,808 8.559 Total 313430 417015 Expenditure: Church activities 1344,6171 {90.8021 {435,4191 1746.854) Total 435419 Net lexpgndilur&yincome before investment gainsliosses {31,1871 4.224 8,$59 {18,404} 1280.7791 Net Ilossesygains on investments 69 576 Net {expenditurg1 before tran$f•r of fund$ {40.493} 3,0891 122,5311 166,113) (211,2031 Transfers been funds 15 Net movement In funds {40,493} 5.470 131.0901 166,1131 (211.2031 R•conclllation of funds Total funds brought fomard 1969 1 033 172 Total funds carrled forward 15 The notes on pages 14 to 31 form an integral part of these financlal ststoments
THE CHURCH OF ST. PETER MANCRO BALANCE SHEET 31 DECEMBER 2022 2022 2021 Note Fixed asstts Tangible assets Investments 727 191 804 899 727.191 804,899 Current assets Stock Debtors and prepayments Short-lerm deposits Cash at bank and in hand 10 11 2.180 22,504 1,274 4,360 37.781 1.266 Total current assets 65,251 87,800 Llabilities Creditors- Amounts falling due within one year 12 Net curr•nt •$$ets Total assets less ¢urrent liabllltles 755 856 821 969 Not assets Parl$h funds Unrestricted lunds Restricted tunds Endowment funds 14 14 14 207.861 222,816 325179 248.354 217.346 356 269 ToLIl ¢haiity fund$ Approved by the Paroehial Church Council on . 2310312023 . and signed on its behalf by.. IQJ L9.. >fvfy] Geoffrey Loades Rèvd Canon Edward Cartèr The rKJtes on pages 14 10 37 form an integral part of these finanual statements 12
THE CHURCH OF ST. PETER MANCROFT STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 Cash flows from operatlng actlvitle$ Ngt (expenditure) 166.1131 1211.2031 Adjustments for.. Investment income LossesllGainsl on investments Decreasellincreasel in short term deposits Decreaselllncreasel In debtors IDe¢reaselllncrease in creditors Decreaselllncreasel in stock 121,7411 {24.0391 47,709 {69.5761 181 14.993 15.277 (23.5651 134.1441 19.570 Nel cash from operating activiti8S Cash flows from Invèstlng actlvltl•s Investment income Proceeds from sale of investments Purchase of investments 21,741 107,414 24,039 270.330 101 577 Net cash from investing activities Nel Idecreasel in cash and cash equivalents Cash and cash equivalents al beginning of year (5,1001 {105.3881 149 781 Cash and Cash oquivalents al end of year Thg notes on pag8s 14 to 31 form an integral part of these financial ststemenls 13
THE CHURCH OF ST. PETER MANCROFT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 General inforniation and accounting policies The Church of St Peter Mancroft ig an unincorporated charity registered in England and Wales. The address of the re9islered oifice is given in the annual report on page 1 of these financial stalements. The nature of the charity's operations and principal activilies are referred to in the annual report. The principal accounting policies are summarised below. The accounting policies have been applied onsislently throughout the ygor and in tho precoding year. Ba$1$ of a¢¢ounting The PCC is a public benefit enlily within the meaning of FRS102. The financial staternenls have been prepared under th& Charities Act 2011 and in a¢wrdan¢e with the Church A¢wunting Regulations 2006 governing the individual a¢¢ounts ol PCCS, and with the Regulations true and fair view" provisions. logelh&r with FRS102 as the applicable accounting standards and the Slalemenl of Recommende(J Pracllce, Accounting and Reporting by Charities IFRS1021. The financial statements have bèen prèparèd to give 8 and fair. view and we have departed from th& Charities Accounts and Reports) Regulations 2008 only to the extent required lo provide a "tnje and fair view" This departure has involved the Accouniing and Reporting by Charities.. Statement of Recommer)ded Practice applicable lo charities proparing their a¢¢ounts in a¢¢ordance with th8 Financial Reporting Standard applicable in the UK and Republic of Irèland IFRS1021 Issuèd In Ociobar 2019 rather than the Accountlng and Rèportlng by Charllles.. Stst8ment of Re¢ommgnded Pra¢ti¢e effocts'vfj from 1 April 2005 which has sin¢& been withdrawn. The financial stst8ments have been prgpared under the hislorlcal cost conventlon except for the valuation of investment assets, which are shown at market value. {b) Fund accounting Unreslrtrcted funds - these present the remaining income funds of the PCC that are available for spending or) the general purt)Dses of the PCC. including amounts designated by the PCC for fixed assets for 115 own use or for spending on a futura project and which aT& therefore not included in its 'free ieserves, as disclosed in the Irusleos, r$port. Reslricled funds these are income funds that musl be spent on $trted purposes And dètails of th8 funds held and restrictions provided are shown in the notes to thg accounts. Endowment funds these are reslricled funds that musl be retained as trust capital either pomianently or subject to a discretionary power to spend capital a5 income, and where the ¢J5e of any income or other benefit derived from the capital may be restricted or unreslricled. Full details of all their restrictions are shown in the rK>tes to the a¢counls. Ic) In¢ome All income is included in the Statement of Financial Activities ISOFAI when.. The PCC becomes legally entiued lo the benefit of use of the resoLtrces.' Inllow of economic benefit is probable., The monetary value can be measured with sufficiènt reliabilty. The following specrfic policies are applied lo particular calegories of income.. Funds raised from events and trading activities are reported gross in the SOFA- i.e. before any related costs that may have been deducted from the gross procee(Js. Grants and donations are included in the SOFA whgn any preconditions preventing their use by the PCC have been met. For collections and planned giving this is when the funds are received. Gift Aid and other tsx claims are included in the SOFA at the same lime as the cash donations to which they relate. 14
THE CHURCH OF ST. PETER MANCROFT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 A¢¢ountlng pollcle$ (continued) Icl Income {continued} Legacy Income Is recognlsed when receipt is probab19 entitlement is established. The value of any voluntary help received 15 not ilded in the accounts t)ul is descrlbed the Annual Report. Renlal income from the lelling of the church is recognised when th8 rental is due. Investment income is In¢ded when re1vable. Sncome from operating activities are accounted for when earned. Id) Expendlture and Llabllltles Expenditure is Tecognised on an accruals basis as a liability is incurred. Exp8ndilure includes any VAT which cannol b8 fully recovered. and is reported as part of the expenditur8 to whh it r8lales. Liabilities are recogni88d as soon as there is a legal or conslruclive obligation and settlement is probable and quantsfiable. Governance wsls include the costs associated with the pparatiOn and audit of ststutory accounts, the costs of trustee meetings and Cost of any legal advice to Iruslees on govemance or conslilulion81 matters. Grants and donations are included in the Statement of Financial Aciivilies once authorised and thero is a resulling obli9ation for payment. The Diocesan Parish Share is accounted lor wh8n payable. Support costs includè central functions and h8ve been allocated to a1vty Cost Categories on a basis consistent with the use of resour. Conse¢ratgd and b¢n¥fl¢o propgrty In so far as consecrated and benefice property of any kind is excluded from the statutory definition of 'charity' by Section 10121 la) and Ic) of the Charities Act 2011, such assets are not capitalised in the financial ststements. Flxod as$ot$ and d•preciation Fixed assèts costing MO Ihan £5,000 are ¢apitalised and included al cost including any incidental expenses of acquisition. Depreciation is calculated so as lo writé off th8 Cost of an asset. less their currenuy anticipated residual fair value, over their usèful economlc Ilfe ol that asset as follows.. Fixtures and fittings Office equipment Tenant's improvements 5 year5 slraighl line 5 years slraighl line 10 years straight line 15
THE CHURCH OF ST. PETER MANCROFT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Ig) Investments Sto¢ks and shares quoted on a recognis8d stock exchange are includèd in the balance sheet al their mid- market value al the year end. The differ&nces between maTket value and Ihg original cost of the investments are shown as unr&alised investment gains or losse5 and transferred to Iha siat&mèni of Flnanclal Actlvities. Short temi deposlts Short term deposits include cash held on deposit either with the CCLA Church of Ewland Funds or al the bank. Debtors and creditors recelvabl• I payabl• wllhln ono yoar Debtors and creditors with no ststed interest rale and receivable or payable within one year are recorded al transaction price. Any losses arising from impairment are recognised in expenditure. ui Golng concern The financia5 statements have been prepared on a going Concern basis as th8 PCC Members believe that no material uncertainties exist. Th6 PCC Members have considered the level of funds held and the expected level of income and expendtture for 12 months from aulhorising these financial statements. The budgeled inwm9 and expendilure is sufficient with the level of reseNes for the charity lo be able lo conlinug as a going concern. Dèfln•d contrlbution plans Contributions lo defined contribution plans are recognised 85 an expense in the period in which the related service is provi¢Jed. Prepaid contributions are recognised as an asset lo the extent that thg prepayment will lead 10 8 reducb'on in future payments or a cash refund. 16
THE CHURCH OF ST. PETER MANCROFr NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Income and endowments Donatlons and legacies Unr•stTlct•d R•5trlctgd Funds Funds Total Unieslricled Restricted 2022 Funds Funds Total 2021 Planned giving Islewardshlp} Collections at all seryices Grants: Risèbrow Trust grants for youth work and ¢hoir Subscriptions olhgr income for youth Activities Grants from Vicarage Trust= Gènèral Grants Irom Mission H811 Trust Grants from Heritage lottery For 8811 Chamberprojecl Grant from Norwich D5ocesan Assn of Ringers lor Bpll Gh8fflbgr ProJ8fjt Grant from FP Arts For B611 Chamber Project Grant from St John's College for Gèi8 Pmject Grant from Garfield Weston lor Gaia Proj8Ct Grant from Risebrow Trust Fof G81& Proj&cl Grant from Geoffrey Wauing Charity for Gaia Project Creating Spaco lor God.. Grant St Martins in the Fields for Creating Spacè forG Grants from Archbishops Council for Creating Space for God Grants from Dioc8s8 for Cre8ting Space for God Donations- General Fabric fund Bells Chamber Proj¢ct Church roof fund Collins Organ Fund Misc restricted donalons Gaia Proj•ct Flower fund Creating Space for God Tax recoverable Sundrtes Legacies Ll$t¥d Pl4¢0$ of W¢rshlp: For Roof Prgject 61,307 8.505 61,307 8,505 56,260 5,933 56,260 5,933 53,00 53,000 45,048 45,048 50 40,000 40,OC 40.000 40,000 48,000 48,000 62,713 62,713 5,680 5,680 6,211 6,211 2,000 1.000 1,000 20,000 20.0 7,500 7.500 3,000 3.000 3.000 1,500 1,500 2.400 2.400 3.200 3.200 2,000 2,000 11.625 11.625 1.980 13,488 490 13.978 1.980 3.500 1.785 30,005 1,785 30,005 375 5,122 375 5.122 2.194 2.995 365 3.600 8.426 2.194 2.995 365 3.600 25.187 4.276 3.475 406 406 2.300 21.246 272 4.238 19,071 272 4.238 2.175 16,761 4,276 3,475 55 759 17
THE CHURCH OF ST. PETER MANCROFT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 {b) Actlvltles for generatlng funds Unr•striet•d Rgstrlcted Fund• Funds Total Unrestri¢ted Restricted 2022 Funds Funds Total 2021 Risebrc>w Cèntre {MAPI share of expenses Chantry hall leltings MRDC Activities Events Use of church for u)n¢8rt9 etc 9.974 30,065 9,974 30,065 9,785 39.635 22.950 10.205 9,690 10,205 9,690 9,785 39,635 22,950 8,435 8,435 {cl Income from Invastments Unts$trlct•d R•strlct•d Endowment Total Unrestricted Restricted Endowment Fund5 Funds Fund5 2022 Fun(Js Funds Funds Total 2021 Quot Investments: General and other funds Ltsgacies Fabric funds Bell chamber fund Organ fund Church roof fund Treasury & West End fund Mancroft charitab Risebrow Flower Fund Creating Spaca lor God Heanedge Raymond King fund Cash accounts.. G8n8ral and other funds Lega¢ie$ 2,510 4,324 1,783 434 489 952 1,063 1851 4.293 4,758 5.412 952 1.063 1851 1291 6,611 1,300 460 3,369 760 872 1851 1.271 7,071 9,758 760 872 1851 4,923 6,389 280 385 399 70 232 337 138 71 232 337 138 71 385 399 70 93 297 163 93 297 3.790 258 239 103 258 239 3.110 3.627 3,007 12 17 17 18
THE CHURCH OF ST. PETER MANCROFT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 {dl Incom• frorn church activities Unrostrlthd Rèstrfeled Fund Funds Total Unrestricted 2022 Funds Restricted Funds Total 2021 Book8. cards. guides and candlos 3.222 3,222 2,375 2.375 Fees: Weddings Funerals 369 3.538 369 3,538 1.526 2,695 1.526 2.695 Mancroft music- recitals and ¢oncertS 3.380 3,380 2,268 2,268 Social events and activities 432 432 lè) Oth•r Inme 2022 Total 2021 Total Llnr¢$trl¢tsd R•strlet•d Covid-19 Job Retention Scheme 7,808 7,808 19
THE CHURCH OF ST. PETER MANCROFT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Exp?ndituT• Unrestrieted Restrlet•d Funds Fund$ Total Unrestricted Restricted 2022 Funds Funds Total 2021 Church actlvltlès Missionary and charitsble 9iwng Inole 3a} Ministry costs (note 3bl Church running an¢Y maintenan¢e Inole 3cl Chantry Hall running costs (not• 3d) Major repairs Inole 3el Social activities {note 3fl 23.969 1,690 25,659 39.668 2.967 42,635 114.743 18.703 133.446 114,136 19,132 133,268 58,340 7.755 66.095 49.279 12,345 61.624 27,610 750 28.360 22.666 22,666 4.104 4.104 960 361.742 362,702 29,336 3,S76 32,912 1,568 1,454 3.022 Magazine and bookstsll {note 3gl Wages and Salaries Inote 3hl Administralive expenses (note 31) 2,830 2,830 2,600 2.600 41,447 $4.224 95.671 36,730 41,660 78,390 46,342 46.342 41,113 11,1661 39.947 Total exp8nditure 344.617 .802 435,419 308,720 438,134 746.854 Misslonary and ¢harltabl• giving Unrèstrlet•d Rè8trlcl•d Funds Funds Total Unrestricted 2022 Funds Restricted Funds Total 2021 Grants.. So¢ular Instrumental award$ an¢J organ scholarship 23.969 700 24,669 39,668 1,500 41.168 990 990 1,467 1,467 Total.. 23.969 1,690 25,659 39.668 2,967 42,635 20
THE CHURCH OF ST. PETER MANCROFT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (bl Mlnlstry costs Unr•$trlet•d R•strlctèd Funds Funds Total Unrestrfcled 2022 Funds Restricted Funds Total 2021 Ministry- Diocesan Parish share Clergy eypenses.. Vicar Cuialelassistant prfest Creating Space for God Other clergy 113.247 113,247 112,360 112,360 721 775 721 775 11.964 11.964 789 962 789 962 15.557 15,557 25 25 Youth work-. Youth general exn$6$ Room hir8 Vicar's discretionary expenses 239 6,500 239 6,500 4cxJ 2,000 1,175 400 2,000 1,175 Total.. 114.743 18,703 133.446 114,136 19.132 133,268 (¢1 Church runnlng ¢o$l$ and malntènan¢e Unr•strlct•d R•strfct•d Fund$ Funds Total Unrestricted 2022 Funds Restricted Fun¢Ys Total 2021 Church runnlng •xpens•g: Telephone Electriaty Gas Clèaniny and waslg Insurance Water Flowers Church maintenance: Maintènancè and mintsr repairs Upkeep of church sgrvl¢es: General church expenses Choirs Publitsly 329 4,428 10,253 11,607 14,162 1,117 329 4.428 10,253 71,607 14.162 1,117 1.344 1,344 688 4,722 6,814 8,702 17,084 164 688 4.722 6,814 8,702 17,084 164 872 872 11,624 3,671 15,295 7,252 11,036 18,288 4.382 1.110 1,630 5.472 1.630 458 3.637 3,637 487 166 437 458 166 Total.. 58,340 7.755 66.095 49,279 12,345 61,624 21
THE CHURCH OF ST. PETER MANCROFT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Idl Chantry Hall Runnlng Costs Unrestricted Restricted Funds Funds Totsl Unrèslricted 2022 Funds Restricted Funds Total 2021 Minor repairs and maintenance Major repairs Eleetricity Gas Watèr Cleaning Waste Insurance Sundri8S 5,918 108 3,fj70 4.727 1,412 3,085 2.846 2.532 3.312 750 6,668 108 3,670 4,727 1,412 3.085 2,846 2,532 3.312 10,364 990 3,350 2,622 {4,774} 2,593 2.321 2,225 2,975 10,364 990 3.350 2,622 14,7741 2.593 2,321 2,225 2.975 Total.. 27.610 750 28,360 22,66 22.666 aior r•palrs and proJgGt$ Unrestricted Re$triet•d Funds Fund$ Total Unrestricted 2022 Funds Restricted Funds Total 2021 Church fabric Orga Treasury & West End Gaia proj8ct Streamin9 projéct Bell-chamber project 7,8751 17,8751 2,260 2,260 337.118 337,118 558 558 274 274 23,792 23.792 960 3.276 3.276 960 6,443 8,443 Total.. 4.104 4,104 361.742 362,702 Soclal actlvlties Unrestricted RestTi¢t•d Funds Funds Total Unrestricted 2022 Funds Rgstricted Funds Tolal 2021 Man¢roft musle: PUblItY Concert expenses 1,261 1.925 1,261 1,925 309 1.181 309 1,181 Olher expenses Events 25,528 25,528 Soclal a¢tlvltlès General 622 1,422 2,044 78 78 Raymond Klng fund 2,154 2,154 1.454 1,454 Total.. 29,336 3,578 32.912 1,568 1,454 3,022 22
THE CHURCH OF ST. PETER MANCROFr NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Book$tall costs Unrestricted R•strtct•d Funds Fund$ Total Unre51rited 2022 Funds Restricted Fund$ Total 2021 Botskstall 830 Total= (h) Salarles and wages {In¢ludlng working expenses) Unre$trlct•d Rè$trlet•d Funds Funds Totsl Unrestricted 2022 Funds Reslrl¢led Funds Total 2021 Vergers Organists Director of mu$1¢ Bell chamber staff Choral scholars and deputies Choristers 37,147 4,300 37,147 3,565 7,865 27.633 27.833 9,839 9,839 12,917 12.917 270 270 30,753 5,977 30,753 7,177 21.442 8,892 9,862 264 1,200 21.442 8,892 9,862 Total: Administratlvo exp•n$es Unrestrict¢d R•$trl¢tsd Funds Funds Total Unrestricted 2022 Funds Restricted Funds Tolal 2021 Offlcè •xp&ns•s: Office st8ffing and admin fees Offic8 expenses and postage Printing, slalionery and offic8 equipment Officè talèphone and internet Bank charges Sundry expenses Payroll bureau Accountants, and audit fees 30.704 2.691 30.704 2.691 24,353 1,947 24,353 1,947 3.546 1,$50 343 13881 806 7,090 3.546 1,550 343 13881 806 7,090 2,193 3,376 314 1,230 1,200 6.500 2,193 3.378 314 64 1,200 6,500 1.1661 Total: 46 23
THE CHURCH OF ST. PETER MANCROFT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Analys1$ of expendltUTe including allocatlon of sUPPOrt costs The support costs have been allocated in their entirety lo Ihe unreslricled expenditure (church running and maintenance and administrative expenditure). 2022 2021 Direct Costs Support Costs 389.077 706,907 46.342 39.947 2022 2021 Govemance costs Administrakn've expensas 7.090 6,500 947. Goveman¢e ¢ost$ 2022 2021 Auditors remuneration Amount payoblt to audlter 2022 2021 Audit fges Payroll fe$s 7,090 806 6,500 1,200 Staff Costs 2022 2021 Wages and salaries Social security costs Pension costs 100,815 69,561 2,509 2,226 During the year the PCC employed 8 (2021.. 71 people. none of whom eamed £60,000 p.a. or more. There were no employee benefits lo key management pèrsonnel in the preVu$ or current years. 24
THE CHURCH OF ST. PETER MANCROFT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Tanglblo flxod assets Fixture5 and flttlngs Octagon Flxturns and flttlngs Chantry Hall Tenant's Improvements Office gqulpment Total Cost At 1 January 2022 Additions Al 31 December 2022 18,522 23,285 29,150 14,712 85.669 Depreciation Al 1 January 2022 Charge for the year Al 31 December 2022 18,522 23.285 29.150 14,712 85,669 Net book valuo Al 310e¢ember 2022 At 31 December 2021 Flxod ass•t Investments 2022 UK listed invoslments Market value- al 1 January 2022 Additions al cost Disposal proceeds Realised gain5 on disFK)sal Unrealised gains lor the year Movemènt in cash 804,899 77,415 1120,9581 15241 147,1851 Market value al 31 December 2022 727 191 HistoricBI cost at 31 Decembèr 2022 Investments exceediro 5¥9 of the portfolio are as follows.. 2022 Market valua 2022 Cost CBF inveslm8nl fund Cash 177.989 37,126 48.334 37,126 25
THE CHURCH OF ST. PETER MANCRO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 10. stock 2022 2021 Items for resale Stock held al the year end represents guidebooks held for resale 11. Debtors 2022 2021 Other debtors 22.504 37,781 12. Llabllltles: amounts fallSng due wlthln one year 2022 2021 A¢cwals and deferred in¢ome 36,586 70,730 Deferred income 2022 2021 Deferred income brought forward Released during the year Income deferred during the year 15.199 115.1991 DefeThed income carried forward Deferred income relates to grants receive(I for future periixl$. 26
THE CHURCH OF ST. PETER MANCROFT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 13. Related P8rtle8 Icontlnuedl J Haggett a PCC member received remuneration, fees and expenses lolalling £12,013 12021.. £12.0731 for his role as Organlst. Members of the PCC were neither enlilled lo nor waived any expènsès incurred in their roles as PCC members during the year. The Revd Canon Edward Carter was reimbursed expenses incurred in his role as Incumbent. The Revd Fiona Haworth and The Revd Naomi Tuma were reimbursed expenses incurred in their rol&s as associa16 Priest and Curate. During the year, grants were recèived from Aldem)an John Rlsebrows Charlty amounting lo £53,000 12021: £45,048). PCC membBrs Geoffrey Loades, The Revd Canon Edward Carter and Catherine Waddams are Trustees of Alderman John Risebrow's Charity. Grants were also received from the Mission Hall Trust amounting lo £48,000 12021: £62,713> and from the Vicarage Trust amounting lo £40,000 12021.. £40.000}. PCC member Geoffrey Loades is Trustee ol the Vicarage TTUSt. The Revd Canon Edward Carter, Peter Threadkell end Helena Carr are Trustees of the Mission Hall Trust. During th& year the PCC charged Mancroft Advice Project £9,974 12021.. £10,205> for ils share of accommodalion and expenses and £6,275 12021.. £2241 for additional room hirg. During the year grant expenditure lolalling £16,82912021'. £34,168) was paid to Mancroft Advice Project in relation to the support of rental costs. The Revd Canon Edward Carter is a Trustee of the Mancroft Advice Proj?¢l. During the year. donations. without condits"ons, of £11.991 12021: £10.2991 were made by the PCC members lo the Church. 14. Analysls of nel assets by fund 2D22 Unrestrlcted general funds Dèsignatod funds R¢stri¢t•d Endowmont fvnds funds Total Tangible fixed assets Investments Nel current assets 130,478 28,665 48.718 222,816 325,179 727,191 28,665 Lia 122 2021 Unrestricted general funds Deslgnated fund5 Restrlcted Endowment funds funds Total Tangible fixed assets Investments Nel curient assets 192,303 9,570 46.481 209,846 7.500 356,269 804,899 17.070 27
THE CHURCH OF ST. PETER MANCROFT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 15. Fund• Balan¢0 brought forward 1.1.22 Balance carried Invostment forward galns Transfgr$ 31.12.22 Income Expendlture Restricted fund$ Legacies Fabric repair Mancroft Charitable Organ fund Risebrow Trust Treasury and Wesl Ent1 Bell-chamber project Raymond King in¢omg fund Church Roof fund Heartedge Flowèr Fund Creating Space for God Other 14.568 15,123 12,915 35,426 12.638 9.356 30,452 6,377 435 2.470 386 1,440 53,400 281 23.819 163 14,1171 296 524 5.268 10.661 15001 {5.4291 17001 16441 153,7441 15911 16661 15251 11.4481 15421 13821 13.912 25,725 12,076 34.774 11.752 9,255 37,989 7.800 14,227 116,2821 12,1541 13,305 12211 115 14031 1951 11271 12.4281 3,635 19.3031 9,873 2.602 9,520 58,496 9.766 1.687 2,897 55.383 11,3441 {11,964} 11,3461 217,346 95.026 190.802} 17,313} 8,559 222,816 Endowment funds Fabric Endowment fund Raymond King Endoyvmenl 235,222 121,047 4,925 3,634 126,151 (4,939 14,925) 209,071 13,634) 116.108 356,269 8,559 {31.090 8,559) 325,179 Unr•strlctod funds Gener41 funds, Legacias General funds other 201,873 8,570 210,915 1340.8271 15,8881 (45,412) 159.143 129,912 Dgslgnated funds Mancroft Music Vicarage Fun¢J Mission Hall Fund Bells Repair Fund 20,891 4,076 40,431 48,670 768 3,1861 11,4961 892 18771 15861 138,3491 1911 I 148.6511 {1,0441 2,500 20.904 25.590 27,814 248.354 313,430 {344,617) (9,3061 207,861 TOTAL FUNDS 29
THE CHURCH OF ST. PETER MANCROFT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 15. Fund8 Balance brought forward 1.1.21 Balance ¢arrled Invastmant fornard gains Transfers 31.12.21 In¢omg Exyndlture R•stricted funds Legacies Fabric repair Mancroft Charitable Organ fund Risebrow Trust Treasury and West End Bell•chamber project Raymond King incorne fund Church Roof fund Heartedge Flowtsr Fund Creating Spac8 for God Other 20.506 80.883 12.734 32,929 5.290 8,817 28,098 4.465 101,445 9.035 2,819 13.173 44,198 460 3,371 837 872 45.249 232 8,756 103 93,179 239 477 11,258 37.152 17,5501 116,839) 11.5001 15581 138,2471 (2741 18,8921 11,4551 1320,2791 1,152 8,435 14,568 15,123 12,915 35,426 12,638 9,356 30.452 6.377 160.7271 2,183 346 581 2,490 3,007 125.869 257 12141 599 178 9,873 2,602 9,520 $8.496 18721 115,5571 126.1111 3,257 364.392 202.185 1438.1341 18.264 70,639 217,346 Endowment funds Fabric Endowment fund Raymond King Endowment 286,666 113,522 6,390 3.007 27,308 7.525 165,142} 235,222 13.007) 121,047 380.188 9,397 34,833 168,1491 356,269 Unre$trl¢tod fund$ Gon8ral funds, Legacios General funds other 249.098 10,088 137,285 1301.5751 16.551 15,4241 (73.8641 201.873 169.714 D•signated funds Mancroft Musi¢ Vicarage Fund Mission Hall Fund Bells Repair Fund 18.364 2.768 40,265 63,528 559 11,4901 11,7511 13,9041 1,249 663 2,039 1,401 20.891 (39,1771 161,6631 2.500 21,130 25,590 288,592 254,493 1308,720) 16,479 12,4901 248,354 TOTAL FUNDS 30
THE CHURCH OF ST. PETER MANCROFT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 15. Fund$ Icontinuedl Restricted funds Th& Legacies fund includes the balance of a number of legacie8 made specifically for expenditure on Ihe choir and music. Th6 Fabric Repair fund eontsins the income 8rising from th& Fabric Endowment fund and donatlDns received for oxpenditure on repairs lo the fabriG. The Mancrgft Char¢lable fund consists of funds held on behalf of many small charitigs that were previously administered by the PCC. The Organ fund consists of thè balance of funds from a previous major appeal and a legacy 8nd other donations, all specifically for restoration and repairs to the West End organ. Income from The Risebrow Trust supports youth work. choir and discretionary expenses, as detsi18d in note 2a. The Treasury and West End fund consists of thè proceeds of the sale of shares donated by Paul King. and other donations which are to be used towards Ihe Treasury and for West End developments. The Bell-chamber project sel up in 2013 consists of monies donated to be used for the improvement of the bell chamber, together with Heritsge Lottery Funding. The Raymond King incorne fund conlains the income arising from the Raymond King Endowment for Vicar's and Churchwardens, discretionary expenses. The Church Roof fund is in¢lusivg of donations received for the purpose of repair5 to the Church roof. The Heartedge fund consists of grants given lo develop churches and communities and help them reimagine Ihemsefves and society The Fl¢)wer Fund was passed lo us by the flower arrangers. Th& Fund will continue lo have donations added lo it and have disbursements to purchase flowers specifically for the decoration of the Church. The Creating Space for God provides experience of church ministry lo young peoplè who are considering the Ministry as a vocatlDn. In effect il is akin to a gap year internship. We are intendin9 for il lo be continued in 2023 for up to new young people. It ha5 been funded by ¢tsnlributions from church membèrs and one or two grants which w8 ar8 hopeful will be also forthcoming in the next year. Endowment funds The Fabric Endowment fund consists of investments 8nd must b8 retained as capital. The income arising from the Fabric Endowment fund adds lo the Fabric Repair fund. Investment income from the Raymond King Endowmonl fund is added to the Raymond King income fijnd. The PCC can transfer the fund ¢apital lo be used in the income fund as appropriate. 31
THE CHURCH OF ST. PETER MANCROFT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 15. Funds lcontlnued) Deswnaled funds The Mancroft Music fund consists of monles put aside by tho PCC to be used for Mancroft Music concerts. Grants received from the Vicarage Trust are used to pay clergy expenses and lo off-sel shortfalls in unrestricted income. Grants received from the Mission Hall Trust are used for repairs and capit81 works at the Chanty Hall and Church Offices and lo offset shortfalls in unrestricted income. The Bells Repair Fund, set up in 2010. consists of monies pul aside by the PCC lo be used for rgpairs lo the bells and assoaated equipment. 16. Transfers b¢tw••n funds Transfers between restricted and unreslrictad funds comprise of movgmonts to eliminate deficits in restricted fund8. Transfers bètweén restricted and endowmènt lunds Comprise of movements of investment income generated from inveslmenls to the corresponding restriclgd funds. 32