ST MARYS
Parish of St Mary with St Peter,
Bury St Edmunds
EDMUNDS
Church of England Diocese of St Edmundsbury and Ipswich (Thingoe Deanery)
Parish of St Mary with St Peter, Bury St Edmunds
Annual Report
and
Financial Statements
of the Parochial Church Council
for the year ended 31 December 2023
The Parochial Church Council of the Ecclesiastical Parish of St Mary with St Peter, Bury St
Edmunds is a registered charity, number 1134666.
AnnutslRwtloiiheyearendlng 31 De¢ember2023
I. REFERENCE AND ADMINISTRATIVE DAlL$
INDEPENDENT EXAMINER
2. STRucfuRE, GOVERNANCE AND MA14AGEMENT
PCC MEMBERSHIP
COMMITTEES
3. CHARITABLE AIMS AND PURPOSES
PARISH STATISTICS
4. CHARITABLE OBJECTIVES
5. ACHIEVEMENTS AND PERFORMANCE
WORSHIP MINISTRIES
ELECTORAL ROLL ANO MEMBERSHIP
RAISING VOLUNTARY INCOME THROUGH GIVING
io
io
PARISH SHARE
io
OTHER ACTIVITIES
io
OPERATING BUILDINGS
li
6. sfAFFING AND EMPLOYMENT
12
7. FINANCIAL REVIEW
13
8. PLANS FOR THE FUTURE
Is
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I. REFERENCE AND ADMINISTRATIVE DETAILS
St Mary with St Peter Parochial Church Council. Parish Office. St Mary's Church, Honey Hill.
Bury St Edmunds, Suffolk IP33 IRT.
Email addres5 for further information.. jackie.crofts@5tmaryschurthbse.org
Websites: www.wearechurch.net stma
schurchbse.or
st etersbse.uk
Parish legal name.. Bury St Edmunds, St Mary.
Benefice name.. Bury St Edmunds.. St Mary with St Peter's District Church
The PCC banks with Royal Bank ofscotland. Drummond House, Edinburgh EH12 9JN and
with HSBC. 54 Abbeygate Street. Bury St Edmunds IP33 IU.
INDEPENDENT EXAMINER
Robin Jack50n FCA, Chartered Accountsnt. Churchgate Accountants Ltd, 18 Langton Place.
Bury St Edmunds IP33 INE.
2. STRUCTURE, GOVERNANCE AND
MANAGEMENT
The PCC has, as a governing document, two pieces of Church of England legislation, called
Measures. These are the Parochial Church Councils (Powers) Measure 1956 as amended and
the Church Representation Rules 2020 as amended.
The PCC is constituted as an unincorporated association. It is registered as a charity with the
Charity Commission.
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PCC MEMBERSHIP
Lay representatives of the Diocesan and Deanery Synods, Licensed Lay Ministers and
Churchwardens are ex-officio members ofthe PCC. Lay members were elected at the Annual
Parochial Church Meeting IAPCMI, held in April 2023.
Vicar
The Revd Canon Tiffer Robinson
Associate Vicar (St Peter'sl
The Revd A Williams
Assistant Curate
The Revd Dr. Sarah Gull
Parish Churchwardens
Brian Jones 1st Mary'51, Stuart Lowe (St Peter's I
District Churchwardens
Rosie Perham (St Mary's)
Deanery Synod Lay Representatives Joanna French (St Mary's). Philip Lloyd-jones (St
Peter'sl
PCC Treasurer
Colin Firth
PCC Secretary
Jackie Crofts
Elected members (St Mary's)
Nigel Beeton. Virginia Dean, Robin Good¢hild. Stephen
Mills, Shelagh Wallace
Elected members (St Peter'sl
Rob Bream. Jackie Crofts. Phil Hymers, Duncan
Maclnnes, lan Nurcombe
Co-opted members
The Revd David Crofts, Joanne Peachey
Diocesan Synod Lay Representatives Colin Firth, Peter Boyt lex officiol
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COMMITTEES
The Pamchial Church Councll IPCCI is the trustee body of the charity and is constituted
under the Church Representation Rules. The PCC usually meets quarterly. During 2023, the
PCC met four times. The Annual Meeting of Parishioners and Annual Parochial Church
Meeting was held on 7 May 2023. As usual. this was combined with a service of
rededication.
The PCC elected a PCC Stsnding Committee consisting of the vicar. associate vicar. curate,
vice-chair. secretary, treasurer of St Peter's. treasurer of St Mary's. churchwarden5 and
district churchwardens. The standing committee has the power to tran5aCt the bu5ines5 of
the PCC between its meetings, subject to any directions given by the Council. During 2023, it
met once to set the budget for 2024. The Thomas Clark50n Centre Management Commlttee
is chaired by David Crofts and covers all aspects of the use and maintenance of this parish
asset.
St Mary's and St Peter's District Church Councils {OCCs). The two churches work together
under a Scheme of Delegation. Each has its own District Church Council, which meets four
times per year, and reports to the PCC. The separate meetin85 are able to discuss matters
affecting the individual churches. All policy, financial and faculty matters and proposals
affecting the whole parish are referred to the PCC. Each church has its own subcommittees.
Each church has its own Mission Focus group which considers the support of mission
partners and other agencies to deliver the parish's objectives.
The patron of the parish is Simeon's Trustees.
The wider ministry team (clergy. lay pastor, readers) met four times during 2023. The
meetings, chief purpose is to ensure that the team of preacher5 and leader5 of services are
apprised of latest developments and consulted on relevant 155ues.
A full health and safety risk assessment was last carried out in 2015. The policy can be found
on our website Iwww.wearechurch.netl. The health and safety policy was reviewed in
2017, ensuring that there is a policy for each of the three sites and St Mary's health and
safety policy was reviewed again in 2018.
The PCC complied with the duty under 5eth.on 5 of the Safeguarding and Clergy Discipline
Measure 2016 (duty to have regard to House of Bishop's guidance on safeguarding children
and vulnerable adultsl.
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3. CHARITABLE AIMS AND PURPOSES
Church of England parishes seek to promote the whole mission of the church, pastoral.
evangelistic, social and ecumenical.
This aim was expressed in a statement in 2017 as follows:
we seek to worship the God and Father of our Lord Jesus in the power of the Holy Spirit; to
teach the Bible in a way relevant to everyday life,. to grow people in faith. understanding and
love,. to equip people to serve others; to offer people opportunities to meet Jesus and
discover forgiveness and new life.
PARISH STATISTICS
The Parish of St Mary with St Peter is 2.6 square miles of central and southern Bury St
Edmunds, characteri5ed by residential estates and town centre businesses. The parish
population in 2019 was 12,558. living in approximately 5,700 household5.
In latest available data, the parish Is ranked 8952 out of the Church of England's 12,443
parishes according to indices of deprivation {1 - most deprived). The age profile of residents
is older than the national average.
The parish's boundaries were enlarged as part of a scheme of local parochial re-organisation
enacted by a bishop's order dated l December 2020. The effects are to include land that has
been designated for future residential development near to the town, so the population of
the parish will increase significantly in the next decade.
4. CHARITABLE OBJECTIVES
In 2023, we continued to fulfil our aims and purposes including the following public
charitable services..
Public worship in two churches, using a variety of styles to reach a wide range of
people Icontemporary worship. choral Morning Prayer and Holy Communion, Book
of Common Prayer). This diversity of worship styles is very unusual in a Church of
England parish and is a major strength. Public prayer and worship take place every
day. Online live Daily Prayer take5 place five days a week and a committed group of
people have engaged with this throughout the year.
Pastoral care and support. St Mary's is a popular church for weddings, and the
number of weddings in 2023 was once again higher than in the two years prior to the
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pandemic. Weddings took place in both churches in 2023. We continued to support
bereaved families through funeral ministry, and in 2023 we hosted a Town Memorial
Service in St Mary's as well as a smaller Parish Memorial Service in St Peter's. We also
hosted a small event for local ministers and funeral dirertors at St Mary'5.
Baptisms took place in both churches.
Opportunitie5 to explore the Christian faith and to deepen personal discipleship with
the encouragement of other Christians. Both churches have strong small groups for
Bible study and prayer. An Alpha course was held in the spring, and a well-supported
Advent tourse took place on the four Mondays of Advent.
St Marys, Church is open seven days a week in normal circumstances and receives a
large number of visitors. The historic Grade I listed building is a major attraction.
St Mary's Church is the civic church of 8ury St Edmunds and welcomes a large
number of people to services of widespread local importance. We see this as a vital
way of positively relating to many people who do not regularly worship and to
promote the welfare of Bury St Edmunds. The vicar works with many local
organisations to support their work and to witness to the concern of God for the
wider world.
The PCC owns the Thomas Clarkson Centre (formerly the Hyndman Centrel, a former
school, next to St Peter's Church in Hospital Road. The Centre is a major community
resource for Bury St Edmunds and its extensive facilities are in use throu8hout the
week. During 2023, hire of the Centre continued to increase followin8 the Covid-19
pandemic, although still remainin8 lower than pre-pandemic.
Bury St Edmunds has well-established ecumenical networks and the parish fully
parhcipates in these. Ecumenical initiatives such as Bury Drop In, Bury Town Pastors,
Sporhng '87 and Bury Christian Youth are supported by the parish and its regular
worshippers.
The PCC supports a large number of mission and charity Partners, through the two
churches. This extends our work to fulfil our aims in the wider world.
The vicar. the associate vicar and the PCC have considered the Charity Commission's
guidante on public benefit and the specific guidance on charities for the advancement of
religion.
The Parochial Church Council works diligently to ensure it fulfils its responsibilities for
safeguarding. employment. financial management, upkeep and repair of its buildings and
stewardship of its resources.
5. ACHIEVEMENTS AND PERFORMANCE
2023 was a year of substantial grovrth across both churches. as we began to put the legacy
of the pandemic behind us. Soci31 ventures at both churches namely Open Kitchen and
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Warmlcommunity Space have enabled us to form relationships with members of our
communities some of which have then felt able to get more involved in church, and to
explore faith. We ran our first Alpha course in many years and held a parish confirmation
service with around 20 candidates making a step of faith in a number of way5.
WORSHIP MINISTRIES
Throughout 2023, St Mary's held two services on Sunday mornings. with a contemporary
service at 9..15am and a more traditional service at 11am, as well as a midweek service. St
Peter's continued with their morning service at 10..30am each Sunday. In addition, St Mary's
held evening services on one or two Sundays each month throughout the year, and St
Peter's continued its monthly Sunday evening informal praise service.
Through the course of 2023, midweek services took place at care homes in our parish.
Each month, a Parish Prayer meeting was held on Zoom. A St Peter's Vision Prayer Meeting
was held weekly, also on Zoom. Online daily prayer was held five days a week on the days
when there were no other services, reaching around 10- 20 people.
Church Attendance
St Mary's has two regular services on Sundays. The 9.15 service is served by an excellent
contemporary band led by Jim Herrington which has grown from the four very committed
members in 2022 to allow for some more flexibility when musicians need to be absent. The
band has introduced a number of popular worship songs that were new to the congregation
in 2023. In February 2023 St Mary's appointed DB de 81iaso to become the substantive
Director of Music after many periods serving in assistant or acting roles at St Mary's and
since then the choir has grown in number and competence. This is due to his skill and
commitment and leadership, alongside the Choir Association and choir members who give
so much of their time and talents.
There has been a significant increase in attendances at all regular weekly service5, including
both Sunday morning 5ervice5 and the midweek service of Holy Communion on
Wednesdays. Our number of new regular worshippers was 76 including 16 children, and 10
of our regular worshippers moved to other churches. became housebound or died.
Average attendances in 2023120221 are as follows..
The 9:15am contemporary service averages 851681 of whom 7131 are under 16 year5.
Children's groups are held each Sunday under the banner of Energise.
The 11am traditional service averages 791501 of whom 11111 are under 16 years.
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A service of Choral Evensong took place once or twice a month. The average attendance at
this was 421251 of whom 1111 was under 16 years.
There is also a Holy Communion service every Wednesday. The numbers attending here
average 251181.
The two morning congregations combined for a number of special services throughout the
year. These included Easter, where the attendance was 200 of whom 16 were under 16
years; the service with Annual District Church Meeting, where the attendance was 95. of
whom 5 were under 16 years- Harvest, with an attendance of 14011531, ofwhom 121181
were under 16 years,. and Christmas, where the attendance was 11611091, of whom 7141
were under 16 years.
The whole parish joined together in May 2023 for a Service of Confirmation and
Reaffi'rmation, which was held at St Mary's Church. Eighteen candidates, mostly from St
Mary's and St Peter's Churches, were contirmed at this service and the total attendance was
203.
The Good Friday meditation service was attended by 481361 people.
Advent and Christmas services included the Advent carol service, which 521681 attended,. St
Mary's carol service, attended by 28612531; the crib service, attended by 18812021 and the
midnight communion, which 15111221 attended.
Civic services included Battle of Britain. where the attendance was 225, of whom 4 were
under 16 and Remembrance, where the attendance was 52715821, ofwhom 1151961 were
under 16.
Other special services included a joint Ascension Day service with the Cathedral, which took
place at the Cathedral- Jankyn Smyth. which 32511251 attended, of whom 1811411 were
under the age of 16 and the Town Memorial Service to remember before God those who
have died, which had an attendance of 1431178).
St Mary's Church was open for visits from 10.30am - 3pm six days a week. 16,663 visitors
came to the church during the year outside services and events.
'Thefiguresfor overage congregation ot 5t Mary s ore based on the medionfigurefor the
year. Thefigures in brackets are bosed on the average attendancefor the yeor in 2022.
Thesefigures are Skewed by occasional baptisms in the service, combined Services t7nd
CIVIC services being included. Anecdotally, regular attendance was closer to 55 in 2023
compared to 45 in 2022.
St Peter's holds a 10=303m service every Sunday. with an average attendance of around 70
1611. This includes an average of 64 {551 adults and 616) children. Children's groups were
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held on 35 Sundays during 2023. St Peter's also holds an informal praise service most
months, with an average attendance of 21123}-
Lent and Easter services at St Peter's included an Ash Wednesday service of Holv
Communion, which was attended by IS {261 people, a MaundyThursday service, which was
attended by 28 people. a Good Friday all age service. which was attended by 37 people and
the Easter Sunday service, which was attended by 80 people.
Special Christmas services included the crib service, attended by 67 people,. Carols by
Candlelight, attended by 140 people and the Christmas Day family communion, which was
attended by 58 people.
Servlces for Ilfe events Ibaptisms, weddings and funerals) were held in both churches.
At St Mary's Church, the numbers (with 2022 figures in brackets) were: 1101 thanksgiving
services for the birth of a child,. 8151 baptisms; 161161 weddings. 0101 wedding blessing; O
101 renewal of marriage vows: 171121 funerals, and 1111 memorial services.
At St Peter's Church there were 1101 thanksgiving services for a child; 0111 baptisms,. 2121
weddings; 0101 wedding blessings; 0101 renewal of marriage vows; 5131 funerals, and 0101
memorial services.
The parish conducted 161121 funerals at a crematorium or cemetery in 2023, making a total
of 381271 funeral services conducted by members of staff as well as I memorial service and
5141 interments of ashes.
ELECTORAL ROLL AND MEMBERSHIP
In 2023, we carried out revisions of the Eledoral Roll in April. At the Annual Parochial Church
Meeting there were 27912731 on the electoral roll. Of these. 20612011 were on St Mary's
electoral roll, and 751741 were on St Peter's roll. 2121 appeared on both rolls.
RAISING VOLUNTARY INCOME THROUGH GIVING
At St Mary's in 2023 £131,46812022 £119,533) was given to the general fund through
collections, tax effective regular giving and general donations. E19,82312022 E16,9971 was
given by or through the church for other charities or good causes. An encouragement to
start or increase regular giving over the last quarter of 2023 to enable the church to consider
appointing a youth worker increased our regular giving signifi"cantly, and enabled St Mary's
to set a balanced budget for 2024.
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AnnutslRwtloiiheyearendlng 31 De¢ember2023
At St Peter's in 2023 £82,13412022 £79,384) was given to the general fund through
collethons, tax effective regular giving and general donations. £15,83812022 £15,476) was
given by or through the church for other charities or good causes.
PARISH SHARE
The parish contribution to the diocesan share was £156.(KK)12022 £156.0001. In 2024 the
parish will pay a contribution of £156.000.
OTHER ACTIVITIES
St Mary's shares the site of the ancient and ruined Abbey of St Edmund with the cathedral,
the public Abbey Gardens and others.
The two churches joined together to organise a number of social events throughout 2023.
The men's group met monthly for breakfast. Lunch & Chat continued to provide an
opportunity for 50cialisation and food once a month and was well attended. The Little Fishes
group also met monthly for young children with their carers, and an average of 8 families
attended each month.
St Mary's ran a pop-in cafe each month throughout the year, and the Time Together social
event took place four times through the course of the year, including a summer outdoor
event at the Thomas Clarkson Centre.
In December, a pop-up bookshop came to St Mary's for the first time, and they have
continued to operate at St Mary's on the first Wednesday of each month.
St Peter's continued with their weekly tommunity cafe and the monthly Tea and Chat event,
as well as a weekly community space each Saturday, where people can drop in for
refreshments and to socialise. They also held a men's bowls evening once a month.
We seek to encourage people to work both with other churches in the town, and the work
of the Christian church in the wider community. People from the congregations work with
BCY (Bury Christian Youth}, the Bury Drop in, Town Pastors, Sporting 87 la Christian football
clubl, CAP (Christians against poverty} and the 5t John's Ecumenical Centre.
OPERATING BUILDINGS
The parish maintains St Mary's Church, St Peter'5 Church and the Thomas Clarkson Centre.
As usual, regular maintenance and services were carried out in all the buildings.
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AnnutslRwtloiiheyearendlng 31 De¢ember2023
Since the last report all work recommended in the architect's quinquennial report of June
2021 has been completed. The audio system and projector have been replaced. The
high-level spotlights in the nave. chancel and sanctuary have been replaced with LEDS. The
interior of the Notyngham Porch has been lime washed and the doors repainted, together
with the south door and the door to the tower. The three trees adjacent to the car park have
been felled, the adjacent wall has had ivy removed and the adjacent brambles cleared. A
home for the redundant small organ has been found- Glemsford church- but the transfer is
still awaited. The proposed hanging cupboard to be fitted in the liberated space is out to
tender. A silver Eco Award has been achieved.
At St Peter's Church, all of the maintenance and servicing work was completed, including the
reports and tests required by our insurance company. We still await the Archdeacon's
visitation where our documentation will be reviewed. The Quinquennial work from the
report 18 months ago has almost been concluded. The only outstanding work is the masonry
repairs which we hope will be approved soon by the DAC. and the work concluded in the
spring of 2024.
No major work was carried out at the Thomas Clarkson Centre in 2023. A timer-controlled
electric heater was installed in the Spaul Room, in order to avoid heating the whole Centre
when only one small meeting room is required.
6. STAFFING AND EMPLOYMENT
The Reverend Canon Tiffer Robinson has served as vicar and incumbent of the parish since
Ortober 2022.
Andy Williams continues to serve the congregation at St Peter's. where he completed his
turacy before being licensed as Associate Vicar with responsibility for St Peter's in February
2022.
In 2023, the parish employed an Events Manager, a Church Administrator and a Caretaker.
The parish also employ5 two cleaners.
DB Di Blasio was appointed as Dirertor of Music in February 2023, following a period in 2022
where he stood in as organist.
A very large proportion of the activity in the parish is undertaken by volunteers and we are
very grateful for their work. We have a good team of retired, self-supporting and lay
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AnnutslRwtloiiheyearendlng 31 De¢ember2023
ministers who support the work of the stipendiary clergy, as well as many lay volunteers who
give up their time to fulh'l a whole variety of roles in the life of our churches.
7. FINANCIAL REVIEW
The financial statements have been prepared in accordance with the accounting policies set
out in notes to the accounts and comply with the charity's governing document, the
Charities Acts 2011 and 2022 and Accounting and Reporting by Charities- Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland published on
16 July 2014, the latest edition being dated October 2019.
Across the whole Parish income of all funds for 2023 amounted to £340,16212022
£298,172) as shown on the linancial statements. That included income from bequests and
donations in memoriam totaling £6,89812022 £4,000). Those amounts for 2023 were
wholly to be used for unrestricted purposes. Diocesan Energy Support grant of £8,51412022
nlll was received by St Mary's. Diocesan Energy Support grant of £48212022 nill was
received by St Peter's and a further grant of £l.00012022 nil) from the local authority.
£35,87412022 £27,025) came from letting the parish hall, which was supplemented by a
Diocesan energy grant of £1,00412022 £1,904 from the local authority related to the
Covid-19 pandemic and energy Cost support) and by donations of £nil12022 £1001, £27,903
12022 £23,720) from investment income, £10,99912022 £11,587) from such main charitable
activities as weddings and funeral services and the balance of £247,48812022 £229,836)
came primarily from church members. There were slightly fewer exceptional items in 2023
within the £247,488 than in 2022. At Mary's £4,926 was raised from event fees and other
fundraising actr'vities12022 £5,2681- £1,089 was raised for Choir Association activities12022
£1,075),. savings on organ maintenance contributed £nil12022 £2,8541 to the Organ Fund.
Stripping out these exceptional items, the recurrent income raised from the congregats'ons
amounts to about £241,47312022 £220,639).
Again, taking the Parish as a whole, expenditure on charitable activities totaled £416,363
12022 £341,652). Thus, expenditure on charitable activities across the parish rose from 2022
to 2023 by £74,711. That increase was split £61,484 at St Mary's, £11.612 at St Peter's and
£1,615 at the Thomas Clarkson Centre. The main changes at St Mary'5 were a5 follow5.
£50,37612022 £16,308) was spent on Fabric at St Mary's. £23,70012022 £20,000) was spent
on upgrading the sound and visual System at St Mary's. £188,14912022 £164,757) was
Spent on charitable activities through General Fund. The main changes at St Peter's were as
follows. £IO,55812022 £4,766) was spent at St Peter's on Fabric including preparation for a
planned extension to the church building. £80,58412022 £77,655) wa5 spent on charitable
activities through General Fund. £2,2{2022 nil) was expended through Love Gift Fund.
£37,34512022 £35,730) was spent at the Thomas Clarkson Centre, the increase being
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AnnutslRwtloiiheyearendlng 31 De¢ember2023
attributable to an increase in utilities costs and maintenance offset by a reduction in
contributions to Parish costs. Expenditure on charitable activities included donations and
grants to other charitr.es totaling £35,66112022 £32,4731- In additr.on to expenditure on
main charitable activities, costs of fundraising were very small in both 2023 and 2022.
After taking into consideration a rise in the value of our investments by £86,51612022 fall of
£110,728) our income and gains therefore exceeded our expenditure and losses by £8,329
12022 surplus expenditure and losses of £156,081). Income of £6,898 was attributable to
bequests and donations in memoriam12022 £4,(Wl and a deficit of £18012022 £6,683)
generated by the Thomas Clarkson Centre.
Each of the three component part5 of the PCC'S financial artivitie5 ha5 a reserves policy
appropriate to its circumstances.
At the end of 2023 St Mary's had total net assets, excluding permanent endowments, of
£914,936. That is made up of £207,865 balances on unrestricted funds and £707,071
balances on restricted funds. Within unrestricted funds, the main balances for day-to-day
purposes are the general fund and a linked fund together havin8 a balance of £48,008. This
balance is consistent with a reserves policy of holdin8 sufficient in such reserves to pay three
months recurrent bills, and. in addition, general reseeS can have recourse to the Mission
Development Fund. The Mission Development Fund is the other main unrestricted fund
with a balance of about £156,300, which the PCC aims to use for development rather than
simply maintenance of the mission life of the church, but can, if needed, be used to support
the general fund. The main reserves within restritted funds are the Fabric Fund and linked
funds, which have total balances of £640,350. The PCC wishes to retain £216,077 consisting
of the Rae portfolio intact, leaving £424,273 available to meet any urgent work on the fabric
of St Mary's. The £424,273 includes equity-based investments of £370,568, which are
subject to stock market fluctuations.
St Peter's has net assets of £408,638. The main components of these are a Fabri¢ Fund
balance of £355,670 (including the surplus on linked investments). other restricted fund
balances of £6,775, the balance of the Daphne Swatman Mission Fund of £18,575 and a
General Fund balance of £27,618. sufficient to meet normal recurrent bills over a period
slightly more than four months.
The Thomas Clarkson Centre has net assets of £611.395. That includes the building itself at
a valuation of £250,oc plus expenditure incurred to the end of 2013 of £323,600 on
planning and building the extension of the hall. General realisable reserves of about
£37,800 are held. These are suffi.cient to meet short-term likely refurbishment cost5 and to
meet recurrent bills for six months.
Amounts not expected to be used in a period of about five years since acquisition are held in
equity based pooled investments with the Church of England Investment Fund. Across the
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AnnutslRwtloiiheyearendlng 31 De¢ember2023
Parish these assets, excluding endowment funds, total about £893,300. These rose in value
in 2023 by 9.4%. This investment fund has an ethical approach consistent with Church of
England ethical principles. £8,100 is held in bond based pooled investments with the Church
of England Short Duration Bond Fund and £10.970 available to the PCC held by the Diocesan
Board of Finance. A further amount of £470.954 15 held with various banks, of which
£45,000 is held on deposit with the Church of England Deposit Fund. Much of the amounts
held with Church of England Deposit Fund is held available to be spent on any urgent
unplanned building work at St Mary's church. Bank deposit balance5 are held at a high level
by St Peter's in anticipation of work to be carried out on the Fabric of St Peter's.
8. PLANS FOR THE FUTURE
As we finally leave the legacy of the pandemic behind, 2024 will be a year of consolidating
the growth God has blessed us with in 2023 back to pre pandemic levels, with a view to
unlocking further numerical and spiritual growth in 2024.
After his first full year in the role. the key areas the vicar wishes to develop at St Mary's
going into 2024 and beyond are:
• Enablin8 both main Sunday congregations to thrive in their own distinctive
directions, with a high quality of music and teaching. To ensure the contemporary
worship and the choral excellence of the church continues to thrive and enable us to
worship God faithfully. To support the Director of Music as we transition the choir
from one based primarily around the choral education of children to a flourishing
parish choir for all ages.
Focussing on mission and ministry to young people. through Sunday children's
discipleship and occasional events Isuch as Road to Christmas and Road to Easterl.
and through the appointment of a part time youth worker to build on the budding
youth ministry at St Mary's and across the parish.
Growing all of the congregations in number and in depth, through preaching, Alpha,
home groups, and encouraging christr.ans to be more open about their faith to those
around them.
Maintaining the first balanced budget we've had in year5, through continuing to
encourage Sacrificial regular giving. and being good stewards with the treasure God
has entrusted to U5.
5t Peter's will continue to deliver the ministry and mission of the church, including-
To continue to entourage growth and new members feeling welcome.
To increase our volunteer base by encouraging members to be involved in ministry
and mission.
15
AnnutslRwtloiiheyearendlng 31 De¢ember2023
To continue to reach out to our community and meet their needs when and where
wecan.
To continue our efforts to be a welcoming and resourcing place for children, young
people and families and in passing on the faith to the next generation.
To maintain our relationship with Westgate khool.
To continue with the development of an extension and better facilities at St Peter's
Church.
At the Thomas Clarkson Centre, we hope at some point to reassess the possibility of
renovating the School Hall and Sawbridge Hall and to improve the storage facilities in the
Centre.
SIGNED ON BEHALF OF THE PAROCHIAL CHURCH COUNCIL
Vicar and chair of the PCC..
PCC Treasurer:
Date..
16
##
##
##
|||
|---|---|
|INDEX|PAGE|
|StatementofFinancialActivitiesfortheParishincorporating||
|5tMary's, St Peter's andtheThomas ClarksonCentre||
|Balance Sheetat31December2023fortheParish||
|incorporatingSt Mary's, St Peter's andtheThomas ClarksonCentre|2|
|CashFtowStatementfortheParishincorporating||
|St Mary's, St Peter's andtheThomasCtarkonCentre|3|
|Statementof trustees'responsibilities|4|
|AccountingPoticies|5to6|
|St Mary'sincomeandexpenditure offunds|7to11|
|St Mary'sdetaitsof fundbatances|12|
|StPete/sincome and expenditureoffunds|13to15|
|5tPeter'sdetaitsof fundbalances|15|
|Thomas CtarksonCentre detaitsofincomeandexpenditure|16|
|Notestofinancialstatements|17to24|
##
## **PAROCHIAL CHURCH COUNCIL OF ST MARY'S WITH ST PETER'S BURY ST EDMUNDS**
**STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2023**
|||||**ST MARY'S**||||**ST PETER'S**|**ST PETER'S**||**THOMAS CLARKSON CENTRE**|**THOMAS CLARKSON CENTRE**|**THOMAS CLARKSON CENTRE**||**PARISH**|**PARISH**|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**Endowment**|**TOTAL**||**Unrestricted**|**Restricted**|**TOTAL**||**Unrestricted**|**Restricted**|**TOTAL**||**TOTAL**||
|||**Funds**|**Funds**|**Funds**|**FUNDS**||**Funds**|**Funds**|**FUNDS**||**Funds**|**Funds**|**FUNDS**||**FUNDS**||
||||||**2023**|**2022**|||**2023**|**2022**|||**2023**|**2022**|**2023**|**2022**|
||**Note**|**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**||**£**|||**£**|**£**|
|**Income and endowments from**|||||||||||||||||
|Donations and legacies|2(a),2(c),4(a),4(c),6|148824|17882||166706|139375|82443|9407|91850|88698|1004||1004|2004|259560|230077|
|Other trading activities|2(a),2(c),4(a),4(c),6|4926|900||5826|5763|||||35874||35874|27025|41700|32788|
|Investments|2(a),2(c),4(a),4(c),6|5870|18573||24443|22438|437|2736|3173|1264|287||287|18|27903|23720|
|Charitable activities|2(a),2(c),4(a),4(c),6|8231|790||9021|9987|1978||1978|1600|||||10999|11587|
|||________|________|________|_______|________|________|________|_______________||________|________________________________________|||||
|**TOTAL INCOME AND ENDOWMENTS**||167851|38145||205996|177563|84858|12143|97001|91562|37165|0|37165|29047|340162|298172|
|||--------------|--------------|--------------|-------------------------||--------------|--------------------------||------------|--------------------------------------------------------------------------------||||||
|**Expenditure on**|||||||||||||||||
|Raising funds|2(b),2(d),4(b),4(d),6|1958|28||1986|1867|||0|6|||||1986|1873|
|Charitable activities|2(b),2(d),4(b),4(d),6|214990|60124||275114|213630|81807|22097|103904|92292|37345||37345|35730|416363|341652|
|||________|________|________|_______|________|________|________|_______________||________|________________________________________|||||
|**TOTAL EXPENDITURE**||216948|60152||277100|215497|81807|22097|103904|92298|37345|0|37345|35730|418349|343525|
|||--------------|--------------|--------------|-------------------------||--------------|--------------------------||------------|--------------------------------------------------------------------------------||||||
|Net gains/(losses) on investments||12174|50697|4548|67419|(95591)||19097|19097|(15137)|||||86516|(110728)|
|||--------------|--------------|--------------|-------------------------||--------------|--------------------------||------------|--------------------------------------------------------------------------------||||||
|Net Income and gains/(expenditure and losses)||(36923)|28690|4548|(3685)|(133525)|3051|9143|12194|(15873)|(180)|0|(180)|(6683)|8329|(156081)|
|Transfer between funds||11890|(11890)||0|0|505|(505)|0|0|||0|0|0|0|
|||--------------|--------------|--------------|-------------------------||--------------|--------------------------||-----------|--------------------------------------------------------------------------------||||||
|Net Income and gains/(expenditure and losses)|||||||||||||||||
|before other recognised gains and losses||(25033)|16800|4548|(3685)|(133525)|3556|8638|12194|(15873)|(180)|0|(180)|(6683)|8329|(156081)|
|Other recognised gains/losses|||||||||||||||||
|Gains (losses) on revaluation of fixed assets|||||||||||||||||
|Actuarial gains/losses on defined benefit pension schemes|||||||||||||||||
|||________|________|________|_______|________|________|________|_______|______|________|________________________________________|||||
|**NET MOVEMENT IN FUNDS**||(25033)|16800|4548|(3685)|(133525)|3556|8638|12194|(15873)|(180)|0|(180)|(6683)|8329|(156081)|
|Total funds brought forward|3,5,6|232898|690271|48336|971505|1105030|42637|353807|396444|412317|611575||611575|618258|1979524|2135605|
|at beginning of year|||||||||||||||||
|||________|________|________|_______|________|________|________|_______|______|________|________________________________________|||||
|**Total funds carried forward**|||||||||||||||||
|**at end of year**|3,5,6|207865|707071|52884|967820|971505|46193|362445|408638|396444|611395|0|611395|611575|1987853|1979524|
|||**________ **|**________**|________|_______|**________ **|**________ **|**________**|**_______________ **||**________ **|**________________________________________**|||||
1
PROcHiAL CHURCH ¢OUNCIL OF ST IAARYS IITTrI ST PETEAS. 8LW ST EDIII1Ds
BALANCE SHEET AT31 DE¢EMBER 2023
2022
St Matys
paSh
St Marf
Clathson C
Parlsh
FLXED ASSETS
TangtAe
Investments
Investments
Regln81d Fw51aNI [19
Fabri¢ pcrftNIo
10
$73599
573599
285806
222515
219647
150971
311718
24315T
240312
311718
243157
240312
17
222515
219647
12
150971
CURRE14T ASSETS
Slockofrard5, guid85 & bo¢
Debl<)rs and wepayments
sh at bank and in har
)1
479J2
9110
258475
165
478
9275
554814
182751
24QW1
CURREPU LIABIUTIES
Crediiors
14
191851
11n11
I1¢7)
1315231
I2)
29761
1100791
1381531
NET CLENT ASSETS
1n633
243737
245473
37976
627186
Loans
15
NET AssErs
967820
611395
t987853
971
611575
1979524
FLIND8
16
EnL10¥wnt
R8siri¢tsd
Unrestncl8d
48336
10440T8
887110
707071
362445
46193
1(W16
6271
353W7
42637
611395
611576
TOTNL FUNDS
967820
611395
1987853
971505
811575
1979S24
Thts sh*. ftyms daccoLF)ts apwfftd 26 Ilarch 2024
PCC Chakrnan
Tre8surer
## **PAROCHIAL CHURCH COUNCIL OF ST MARY'S WITH ST PETER'S, BURY ST EDMUNDS**
## **CASH FLOW STATEMENTS FOR YEAR ENDED 31 DECEMBER 2023**
||**Note**||**2023**|**2023**||||**2022**|**2022**||
|---|---|---|---|---|---|---|---|---|---|---|
|||||**£**|||||**£**||
|||**St Mary's**|**St Peter's**|**Thomas**
**Clarkson Centre**|**Parish**|**St**|**Mary's**|**St Peter's**|**Thomas**
**Clarkson Centre**|**Parish**|
|**Net cash inflow from operating activities**||(100167)|(11321)|(275)|(111763)||(62978)|(550)|(16382)|(79910)|
|Interest received|8|24443|3173|287|27903|22438||1809|18|24265|
|Interest paid|15|0|0|0|0|0||0|0|0|
|Net cash inflow from investments||24443|3173|287|27903||22438|1809|18|24265|
|(Capital expenditure)|10||||0|||||0|
|Sale of investments|||||0|||||0|
|(Purchase of investments)|||||0|||||0|
|||______|______|_____|_______||______|_____|____|_______|
|**Increase/(decrease) in Cash**||(75724)|(8148)|12|(83860)||(40540)|1259|(16364)|(55645)|
|||======|======|====|=======||======|======|=====|=======|
|**Reconciliation of operating surplus to net cash inflow from operating activities**|||||||||||
|Operating surplus/(deficit)|SOFA|(3685)|12194|(180)|8329||(133525)|(15873)|(6683)|(156081)|
|(Investment income)|8/15|(24443)|(3173)|(287)|(27903)||(22438)|(1809)|(18)|(24265)|
|(Gains)/losses on investments|SOFA|(67419)|(19097)||(86516)||95591|15137||110728|
|Depreciation|10||||0|||||0|
|Decrease/(Increase) in stock||(15)|||(15)||(283)|||(283)|
|Decrease/(Increase) in debtors|13|1308|0|(336)|972||(6091)|0|913|(5178)|
|Increase/(decrease) in creditors|14|(5913)|(1245)|528|(6630)||3768|1995|(10594)|(4831)|
|||______|_______|_____|_______||_______|_____|_____|_______|
|Net cash inflow from operating activities||(100167)|(11321)|(275)|(111763)||(62978)|(550)|(16382)|(79910)|
|||======|======|======|=======||=======|======|=====|=======|
|**Reconciliation of net cash flow to movement in cash and bank**|||**balances**||||||||
|Increase/(decrease) in cash in year||(75724)|(8148)|12|(83860)||(40540)|1259|(16364)|(55645)|
|Cash and bank balances at beginning of year||258475|248449|47890|554814||299015|247190|64254|610459|
|||______|_______|______|_______||_______|______|______|_______|
|Cash and bank balances at end of year||182751|240301|47902|470954||258475|248449|47890|554814|
|||======|======|======|=======||=======|======|=====|=======|
3
## **Statement of trustees' responsibilities**
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- ▪ make judgments and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- ▪ prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the Church Accounting Regulations 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant audit information of which the charity's independent examiners are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the independent examiners are aware of that information.
4
## **PAROCHIAL CHURCH COUNCIL OF ST MARY'S WITH ST PETER'S, BURY ST EDMUNDS**
## **Notes to the Financial Statements For the year ending 31 December 2023**
## **1 Accounting Policies**
## **Basis of financial statements**
The financial statements have been prepared under the Church Accounting Regulations 2006 in accordance with applicable accounting standards and the current Statement of Recommended Practice, Accounting and Reporting by Charities and applicable accounting standard FRS 102.
The financial statements have been prepared under the historic cost convention except for investment assets, which are shown at market value. The financial statements include transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of any church groups that owe their main affiliation to another body nor those that are informal gatherings of church members.
## **Fund accounting**
General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available to be spent on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted. The unrestricted funds of each of St Mary's and St Peter's Churches are, in practice, restricted to the furtherance of mission primarily as decided by the District Council of each respective Church.
Restricted funds are those funds that must be spent on restricted purposes and details of the funds held and restrictions are provided in the notes to the financial statements. Endowment funds, where the capital must be retained, are explained in note 17.
## **Incoming Resources**
## _Donations and legacies_
Planned giving, collections and similar donations are recognised when received. Tax refunds are recognised in the final amount claimable for the tax year ending in the period of accounts plus an iterim claim in respect of the next following tax year. Grants and legacies to the PCC are accounted when the PCC is entitled to the use of the resources, their ultimate receipt is considered reasonably certain and the amounts due are readily quantifiable.
## _Income from other trading activities_
Funds raised by letting the Thomas Clarkson Centre (parish hall), fund raising events and sales of cards and guides from the church bookstall are accounted for gross.
## _Income from investment_
Dividends and interest are accounted for when declared receivable.
## _Income from Charitable Activities_
Income is recognised for the period in which it is earned.
## **Resources used**
## _Grants_
Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the PCC.
5
## **1 Accounting Policies (Continued)**
## _Activities directly related to the work of the Church_
The diocesan parish share expected to be paid over is accounted for when due.
## _Other expenditure_
All other expenditure is recognised when it is incurred and is accounted for gross.
## **Gains and losses on investments**
Realised gains and losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at 31 December.
## **Fixed Assets**
## _Consecrated land and buildings and movable church furnishings_
Consecrated and beneficed property is excluded from the accounts by s. 10(2)(a) and (c) of the Charities Act 2011.
Movable church furnishings held by the Vicar and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted for 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 2001, there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired since 1 January 2001 have been capitalised and depreciated in the accounts over their currently anticipated useful economic life on a straight line basis.
All expenditure incurred during the year on consecrated or beneficed buildings, individual items under £2,500 or on the repair of movable church furnishings acquired before 1 January 2001 is written off.
## _Other land and buildings_
The Thomas Clarkson (formerly Hyndman) Centre is shown at valuation so as to conform with SORP issued on 16 July 2014. Prior to SORP 2005 it was excluded since the PCC has a policy of long term retention of these assets. These assets are included at valuation on the balance sheet since reliable cost information is not available. Any expenditure on maintenance is written off as incurred.
## _Other fixtures, fittings and office equipment_
Equipment used within the church premises is depreciated on a straight line basis over 4 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, rent or other income are shown as debtors less any provision for amounts that may prove uncollectible.
Short-term deposits include cash held on deposit either with the CBF Church of England Deposit Fund or at the bank.
6
**Note 2 St Mary's Church Summary of income of unrestricted funds**
||**Total**|**General**|**Clergy**|**Mission**|**Social &**|**Sound**||**Tiddlywinks**||
|---|---|---|---|---|---|---|---|---|---|
||||**Housing**|**Development**|**Fellowship**|||**Happy Hands**||
|Income and endowments: donations and legacies|148824|139982||5898|2944|||||
|Income from other trading activities|4926|4926||||||||
|Income from Investments|5870|2335||3535||||||
|Income from Charitable activities|8231|8231||||||||
|Other income|0|||||||||
|**Total income of unrestricted funds**|167851|155474|0|9433|2944||0|0||
|**Summary of expenditure of unrestricted funds**||||||||||
||**Total**|**General**|**Clergy**|**Mission**|**Social &**|**Sound**||**Tiddlywinks**||
||||**Housing**|**Development**|**Fellowship**|||**Happy Hands**||
|Expenditure on Raising Funds||||||||||
|Cost of generating Giving income|492|492||||||||
|Fundraising trading: costs of goods sold|1466|1466||||||||
|Expenditure on Charitable activities|214990|188149||23700|2404||737|||
|**Total expenditure of unrestricted funds**|216948|190107|0|23700|2404||737|0||
|**Summary of income of restricted funds**||||||||||
||**Total**|**Choir**|**Fabric**|**Flowers**|**Mission**|**Organ**||**Phoenix**|**Projects**|
|||**Association**||||||||
|Income and endowments: donations and legacies|17882|775|124|250|6657||||10076|
|Income from other trading activities|900|314||586||||||
|Income from Investments|18573||18290|15|||268|||
|Income from Charitable activities|790|||790||||||
|Other income||||||||||
|**Total income of restricted funds**|38145|1089|18414|1641|6657||268|0|10076|
|**Summary of expenditure of restricted funds**||||||||||
||**Total**|**Choir**|**Fabric**|**Flowers**|**Mission**|**Organ**||**Phoenix**|**Projects**|
|||**Association**||||||||
|Expenditure on Raising Funds||||||||||
|Fundraising trading: costs of goods sold|28|||28||||||
|Expenditure on Charitable activities|60124|826|50376|1588|6657||||677|
|**Total expenditure of restricted funds**|60152|826|50376|1616|6657||0|0|677|
7
## **Note 2(a) St Mary's Church**
## **Income of unrestricted funds**
|||2023||2022||
|---|---|---|---|---|---|
|Income and endowments||||||
|Donations and legacies||||||
|Fund|Description of Income|||||
|General|Planned Giving attracting tax relief|76906||73479||
||Tax recovered|21212||20883||
||Collections and visitors' donations|33350||25171||
||Diocesan Energy Grant|8514||||
|||______|139982|_______|119533|
|Mission Development|Bequests|||||
||Shirley Gertrude Bennett|||3000||
||Faith Margaret Walker|5898||||
|||______|5898|_______|3000|
|Social & Fellowship|Donations|60||330||
||Open Kitchen|2884||||
|||______|2944|_______|330|
|Tiddlywinks|Prior year adjustment||||45|
||||------------||------------|
||||148824||122908|
||||======||======|
|Income from other trading activities||||||
|Fund|Description of Income|||||
|General|Postcards, books, CD's & sundries||1305||1898|
||Concerts and fundraising events||3621||3370|
||||---------||---------|
||||4926||5268|
||||=====||=====|
|Income from Investments||||||
|Fund|Description of Income|||||
|General|Interest and dividends||2335||1207|
|Mission Development|Interest and dividends||3535||3289|
||||---------||---------|
||||5870||4496|
||||=====||=====|
|Income from Charitable|activities|||||
|Fund|Description of Income|||||
|General|Wedding etc. fees||8231||7399|
|Sound|Wedding etc. fees||||240|
||||---------||---------|
|Total|||8231||7639|
||||=====||=====|
8
## **Note 2(b) St Mary's Church**
## **Expenditure of unrestricted funds**
|||2023||2022|2022|
|---|---|---|---|---|---|
|Expenditure on Raising funds||||||
|Fund|Description of Expenditure|||||
|General|Cost of generating voluntary giving||492||0|
||Postcards, books, CD's & sundries||640||504|
||Costs of concerts and fundraising events||826||1363|
||||---------||---------|
||||1958||1867|
||||=====||=====|
|Expenditure on Charitable activities||||||
|Fund|Description of Expenditure|||||
|General|Parish Share paid to Diocese|90070||82070||
||Clergy expenses|739||275||
||Alpha course etc.|408||||
||Children's material|50||9||
||Bibles, books, wine & candles|955||66||
||Musical costs|15954||16323||
||Utilities & insurance|40251||29938||
||Wedding etc. expenses|1293||952||
|||______|149720|______|129633|
|General|Office running costs|448||712||
||Parish administrators|15382||16040||
||Payroll administration|1164||||
||Youth work|252||252||
||Caretaker work at Sunday services|1264||||
||Printing, stationery and advert.|2757||2043||
||Photocopying & paper|1245||1302||
||Sundries|1908||2312||
||Telephone|723||525||
||Deanery|20||||
||Independent Examination costs|100||100||
|||______|25263|______|23286|
|General|Grants made||13166||11838|
|Clergy Housing Maintenance|Lawn mower||||200|
|Mission Development|Sound system improvements||23700||20000|
|Social & Fellowship|Refreshments etc.|1031||648||
||Costs of Open Kitchen|1373||||
|||______|2404|______|648|
|Sound|Microphones, batteries and wages||737||1959|
||||------------||------------|
|Total|||214990||187564|
||||=======||=======|
9
## **Note 2(c) St Mary's Church**
## **Income of restricted funds**
|||2023||2022||
|---|---|---|---|---|---|
|Income and endowments||||||
|Donations and legacies||||||
|Fund|Description of Income|||||
|Choir Association|Donations and subscriptions etc.||775||887|
|Fabric|Other grants and donations|124||203||
||Bequests|||||
|||_____|124|_____|203|
|Flower|Donations||250||330|
|Mission|Collections and monthly giving||6657||5159|
|Organ|Donations||||3119|
|Phoenix Folk Group|Donations|||||
|Projects|Donation for Altar cloth|||205||
||Donation for Alpha banner|60||||
||Donation for Children's library|200||||
||Donation for gardener at vicarage|1000||||
||Donation for Youth work|3500||||
||Donation Time Together|233||40||
||Road to Christmas|||574||
||Donations for staff wages|5083||4950||
|||_____|10076|_____|5769|
||Bequest - Shirley Spencer||||1000|
||||----------||--------|
||||17882||16467|
||||======||=====|
|Income from other trading|activities|||||
|Fund|Description of Income|||||
|Choir Association|Fund raising income||314||188|
|Flower|Fund raising income||586||307|
||||---------||---------|
|Total|||900||495|
||||=====||=====|
|Income from Investments||||||
|Fund|Description of Income|||||
|Fabric|Dividends from Sayer bequest|881||876||
||Dividends from Rae bequest|5906||5874||
||Dividends from Fursland portfolio|6578||6535||
||Other investment income|4925||4387||
|||_____|18290|_____|17672|
|Flower|||15||3|
|Organ|Dividends from Plumpton bequest||268||267|
||||---------||--------|
|Total|||18573||17942|
||||=====||=====|
|Income from Charitable activities||||||
|Fund|Description of Income|||||
|Flower|Wedding fees & donations||790||2348|
||||---------||--------|
|Total|||790||2348|
||||=====||=====|
10
## **Note 2(d) St Mary's Church**
## **Expenditure of restricted funds**
|||2023||2022||
|---|---|---|---|---|---|
|Expenditure on Raising|funds|||||
|Fund|Description of Expenditure|||||
|Flower|Costs of fundraising||28||0|
||||======||=====|
|Expenditure on Charitable activities||||||
|Fund|Description of Expenditure|||||
|Choir Association|Choir activities|826||814||
||Jazz concert|||287||
|||______|826|______|1101|
|Fabric|Carpentry|||734||
||Caretaker|5776||5527||
||Flags and flagpole repairs|126||239||
||Glass repairs|||490||
||Lighting and electrical|8503||4494||
||Locks and keys|||448||
||Masonry|||1182||
||Miscellaneous|1174||1129||
||Painting|2088||||
||Quinquennial work|29016||1815||
||Statutory tests & maintenance|1701||250||
||Tree removal|1992||||
|||______|50376|______|16308|
|Flower|Provision of flowers||1588||2671|
|Mission|Grants made||6657||5159|
|Projects|Alpha Banner|70||||
||Altar cloth|||205||
||Gardener at vicarage|441||||
||Road to Christmas|12||420||
||Strimmer|||150||
||Time Together|154||52||
|||______|677|______|827|
||||----------||---------|
|Total|||60124||26066|
||||======||=====|
11
## **Note 3 St Mary's Church Details of Fund Balances at end of year**
||**Fund Balances**|||
|---|---|---|---|
|||2023|2022|
|||£|£|
||Unrestricted Funds|||
||General Fund|17631|27521|
||Surplus on CBF Shares|30377|27644|
||Clergy Housing Maintenance Fund|2200|1400|
||Mission Development Fund|113407|142077|
||Surplus on Mission Development portfolio|42901|33460|
||Social and Fellowship|749|209|
||Sound Fund|70|57|
||Tiddlywinks/Happy Hands|530|530|
|||-----------|-----------|
|3(A)||**207865**|**232898**|
|||======|=====|
||Restricted Funds|||
||Choir Association|4952|4689|
||Fabric Fund|275848|314573|
||Flower Fund|1353|1328|
||Mission Fund|0|0|
||Organ Fund|38916|38648|
||Phoenix Folk Group|1|1|
||Projects Fund|12014|7742|
||Surplus on Croasdale & fabric|||
||committee portfolios|25339|22616|
||Surplus on DBF deposit|9485|9235|
||Surplus on Fursland portfolio|112992|92327|
||Surplus on Porter portfolio|59925|51447|
||Surplus on Rae portfolio|166246|147665|
|||-----------|-----------|
|3(B)||**707071**|**690271**|
|||======|=====|
Expenditure on St Mary's Fabric can have recourse to the amount of the aggregate balances on the Fabric Fund plus the surpluses on the Croasdale & fabric committee, Fursland, Porter and Rae portfolios. At 31 December 2023 this was £640,350 (2022 £628,628)
|Endowment Funds|||
|---|---|---|
|Sayer Bequest|32213|29442|
|Plumpton Bequest|9811|8967|
|Raingate Street Charity|3933|3595|
|Chancel Repair Fund|5538|5062|
|J Sutton Charity|417|382|
|St Mary's Estate|723|661|
|Lady Rivers Charity|249|227|
||---------|---------|
||**52884**|**48336**|
||=====|=====|
12
## **Note 4 St Peter's Church**
**Summary of income of unrestricted funds**
|**Summary of income of unrestricted funds**||||||||
|---|---|---|---|---|---|---|---|
||**Total**|**General**|**Daphne**|||||
||||**Swatman**|||||
||||**Mission**|||||
|Income and endowments: donations and legacies|82443|82134|309|||||
|Income from other trading activities||||||||
|Income from Investments|437||437|||||
|Income from Charitable activities|1978|1978||||||
|Other income||||||||
|**Total income of unrestricted funds**|84858|84112|746|||||
|**Summary of expenditure of unrestricted funds**||||||||
||**Total**|**General**|**Daphne**|||||
||||**Swatman**|||||
||||**Mission**|||||
|Expenditure on Raising Funds||||||||
|Fundraising trading: costs of goods sold||||||||
|Expenditure on Charitable activities|81807|80584|1223|||||
|**Total expenditure of unrestricted funds**|81807|80584|1223|||||
|**Summary of income of restricted funds**||||||||
||**Total**|**Fabric**|**Little Fishes**|**Love Gift**|**Mission**|**People**|**Social &**|
||||**(Toddler)**|||**in Need**|**Fellowship**|
|Income and endowments: donations and legacies|9407||120||9287|||
|Income from other trading activities||||||||
|Income from Investments|2736|2736||||||
|Income from Charitable activities||||||||
|Other income||||||||
|**Total income of restricted funds**|12143|2736|120|0|9287|0|0|
|**Summary of expenditure of restricted funds**||||||||
||**Total**|**Fabric**|**Little Fishes**|**Love Gift**|**Mission**|**People**|**Social &**|
||||**(Toddler)**|||**in Need**|**Fellowship**|
|Expenditure on Raising Funds|0|||||||
|Expenditure on Charitable activities|22097|10558|52|2200|9287|||
|**Total expenditure of unrestricted funds**|22097|10558|52|2200|9287|0|0|
13
## **Note 4(a) St Peter's Church Income of unrestricted funds**
||||2023|||2022||
|---|---|---|---|---|---|---|---|
|Income and endowments||||||||
|Donations and legacies||||||||
|Fund|Description of Income|||||||
|General|Regular Planned Giving||60007|||61212||
||Tax recovered||14108|||15303||
||Other collections and donations||7483|||2482||
||Special events/miscellaneous||536|||387||
||||______|82134||______|79384|
|Daphne Swatman Mission|Donations||309|||309||
||Tax recovered|||||||
||||______|309|||309|
|||||-----------|||-----------|
|||||82443|||79693|
|||||======|||=====|
|Income from Investments||||||||
|Fund|Description of Income|||||||
|Daphne Swatman Mission|Interest|||437|||190|
|||||-----------|||-----------|
|||||437|||190|
|||||=====|||=====|
|Income from Charitable activities||||||||
|Fund|Description of Income|||||||
|General|Wedding etc. fees|||1978|||1600|
|||||=====|||=====|
|**Note 4(b) St Peter's Church**||||||||
|**Expenditure of unrestricted funds**||||||||
||||2023|||2022||
|Expenditure on Charitable|activities|||||||
|Fund|Description of Expenditure|||||||
|General|Parish Share paid to|||||||
||Diocese|61930|||61930|||
||Clergy, readers & others' expenses|1035|||1482|||
||Bibles, wine, candles & flowers|816|||156|||
||Musical activities costs|402|||291|||
||Utilities, insurance & maintenance|4759|||1580|||
||Wedding etc. expenses|581|||787|||
||Specific groups/services|311|||609|||
|||______|69834||______|66835||
||Parish administration|3683|||3818|||
||Depreciation|||||||
||Printing, photocopying and advert.|343|||315|||
||Miscellaneous|73|||50|||
||Audit/Independent Examination Fee|100|||100|||
|||______|4199||______|4283||
|General|Grants made||6551|||6537||
||||______|80584||______|77655|
|Daphne Swatman Mission|Equipment for outreach|||||||
||Printing and publicity|||||||
||Outreach expenditure|1223|||721|||
|||______||1223|______||721|
|||||-----------|||-----------|
|Total||||81807|||78376|
|||||======|||=====|
14
## **Note 4(c) St Peter's Church Income of restricted funds**
|**Note 4(c) St Peter's Church**
**Income of restricted funds**||||||
|---|---|---|---|---|---|
|||2023||2022||
|Income and endowments||||||
|Donations and legacies||||||
|Fund|Description of Income|||||
|Fabric|Donations|||||
|||______|0|______|0|
|Little Fishes|Donations & subscriptions||120||60|
|Love Gift|Donations|||||
|Mission|Collections and monthly giving||9287||8945|
|People in Immediate Need|Donations|||||
|Social & Fellowship|Donations & subscriptions|||||
||||-----------||------------|
|Total|||9407||9005|
||||======||=======|
|Income from Investments||||||
|Fund|Description of Income|||||
|Fabric|Interest||2736||1074|
||||-----------||-----------|
|Total|||2736||1074|
||||=====||=====|
|**Note 4(d) St Peter's Church**||||||
|**Expenditure of restricted funds**||||||
|||2023||2022||
|Expenditure on raising Funds||||||
|Fund|Description of Expenditure|||||
|Mission|Expenditure||||6|
||||---------||--------|
|Expenditure on Charitable activities||||||
|Fund|Description of Expenditure|||||
|Fabric|Building Extension|6444||1097||
||Fabric improvements|||631||
||Insurance|1092||1014||
||Maintenance|2670||1910||
||Miscellaneous|352||114||
|||______|10558|______|4766|
|Little Fishes|Expenditure of Toddlers||52||111|
|Love Gift|Support given||2200|||
|Mission|Grants made||9287||8939|
|People in Immediate Need|Support given||||100|
|Social & Fellowship|Social expenditure|||||
||||---------||--------|
||||22097||13916|
||||=====||=====|
|**Note 5 St Peter's Church**||||||
|**Details of Fund Balances at**|**end of year**|||||
|**Fund Balances**|||2023||2022|
||||£||£|
|**Unrestricted Funds**|General Fund||27618||23585|
||Daphne Swatman Mission||18575||19052|
||||---------||-----------|
||||46193||42637|
||||=====||======|
|**Restricted Funds**|Fabric||285602||293424|
||Surplus on Fabric portfolio||70068||50971|
||Little Fishes (Toddler Group)||379||311|
||Love Gift||1246||2846|
||Mission||0||0|
||People in Immediate Need||5150||4550|
||Social & Fellowship||0||1705|
||||---------||-----------|
||||362445||353807|
||||=====||=====|
15
## **Note 6 Thomas Clarkson Centre Details of income and expenditure**
## Destination
## Note **THOMAS CLARKSON CENTRE**
For the year ended 31 December 2023
|||2023|2023|2023|2022|2022|2022|
|---|---|---|---|---|---|---|---|
|||£||£|£||£|
||**General Fund**|||||||
||**Income**|||||||
|6(a)|Covid-19 grants||0|||404||
||Local Authority Grant||||1500|||
||Diocesan Energy Grant|1004||||||
|6(b)|Donations||0|||100||
|6(c)|Hiring income|35874|||27025|||
|6(d)|Bank interest||287|||18||
|||______||37165|_____||29047|
||**Expenditure**|||||||
||Cleaning|7060|||6363|||
||Gas|5928|||2423|||
||Electricity|2231|||1677|||
||Refuse Collection||504|||503||
||Water Rates||667|||710||
||Insurance||815|||766||
||Maintenance & Fittings|4376|||2712|||
||Building works|||||||
||Internet||500|||494||
||Sundry expenditure||264|||82||
||Administration of bookings|11000|||8000|||
||Parish Share paid to Diocese|4000|||12000|||
|6(e)||______||(37345)|_____||(35730)|
||Governance costs|||||||
|6(f)|Independent Examination expenses|||(0)|||(0)|
|||||_______|||_______|
||**Surplus/(deficit) for year**|||**(180)**|||**(6683)**|
|6(g)|Balance b/f|||**611575**|||**618258**|
|||||---------|||----------|
|6(h)|**Balance c/f**|||**611395**|||**611575**|
|||||======|||======|
16
## **Notes to the Financial Statements (continued)**
For the year ended 31 December 2023
|**7 Staff costs**|||**2023**||**2022**|
|---|---|---|---|---|---|
||||**£**||**£**|
||||**Thomas**|||
||**St Mary's**|**St Peter's**|**Clarkson**|**Parish**|**Parish**|
||||**Centre**|||
|Wages, salaries and social security|45004|3200|17232|65436|58212|
During the year the PCC employed at St Mary's a Director of Music, an assistant organist, a choir leader, two parish administrators, a caretaker and a cleaner. The PCC also employed a cleaner at the Thomas Clarkson Centre. The parish administrators' roles were reorganised during 2021 on the basis of two part time jobs and were employed partly on work related to St Mary's, St Peter's and the Thomas Clarkson Centre.
All employees earned below £60,000 pa. All employees were employed part time.
The average number of full time equivalent employees for the year for the Parish was 4.
Employers' National Insurance costs amounting to £ nil (2022 £ nil) were included in the costs reported in this note.
Employers' occupational pension costs under a defined contribution scheme with NEST amounted to £2,440 (2022 £2,143).
The salaries paid in the year to PCC employees who were also members of PCC or close family of such members were as follows: Administrator including Events Management Mrs J Crofts £21,692.
The salaries of the Administrators are set by St Mary's Finance Committee. Mrs J Crofts is not a member of that committee. The salaries are endorsed by the PCC. Mrs J Crofts disqualifies herself from consideration by the PCC of her salary.
Two members of the PCC were reimbursed travelling, telephone and other expenses totalling £1,309.
## **8 Investment Income**
The gross investment income arising from each class of investment is disclosed as follows.
||**2023**||**2022**|
|---|---|---|---|
||**£**||**£**|
||**Thomas**|||
||**Clarkson**
**St Mary's**
**St Peter's**|**Parish**|**Parish**|
||**Centre**|||
|Income from investments listed on a||||
|recognised stock exchange and from ones||||
|valued by reference to such investments|21236|21236|21167|
|Other investments - cash deposits|3207
3173
287|6667|2553|
||______ _____ _____|______|_____|
||24443
3173
287|27903|23720|
||===== ===== =====
|======|=====|
|**9 Transfers between Funds**||||
|Funds affected|Reason for transfer|||
|**St Mary's**||**2023**|**2022**|
|||**£**|**£**|
|From Fabric Fund to General Fund|Insurance/alarm on Fabric met by Fabric Fund|6763|5983|
|To General Fund from Fabric Fund|Insurance/alarm on Fabric met by Fabric Fund|(6763)|(5983)|
|To Sound Fund from General Fund|Maintenance and operation of sound system|750|1500|
|From General Fund to Sound Fund|Maintenance and operation of sound system|(750)|(1500)|
|To Social & Fellowship Fund from General Fund|Support for Social & Fellowship activities||500|
|From General Fund to Social & Fellowship Fund|Support for Social & Fellowship activities||(500)|
|From Projects Fund to General Fund|Donations restricted to paying Staff wages|5083|4950|
|To General Fund from Projects Fund|Donations restricted to paying Staff wages|(5083)|(4950)|
|From Projects Fund to General Fund|Donations from Time Together|44||
|To General Fund from Projects Fund|Donations from Time Together|(44)||
|To Clergy Housing Fund from General Fund|Addition to designated fund to maintain housing|800|800|
|From General Fund to Clergy Housing Fund|Addition to designated fund to maintain housing|(800)|(800)|
|To Flower Fund from General Fund|Support given to Flower Fund for flowers in church||500|
|From General Fund to Flower Fund|Support given to Flower Fund for flowers in church||(500)|
|From Mission Development Fund to General Fund|Investment income used to support General Fund|3535|3289|
|To General Fund from Mission Development Fund|Investment income used to support General Fund|(3535)|(3289)|
|From Mission Development Fund to General Fund|Previous years' income to support General Fund|10868|29939|
|To General Fund from Mission Development Fund|Previous years' income to support General Fund|(10868)|(29939)|
|||________|______|
|Total Transfers||0|0|
|||=======|=======|
|**St Peter's**||**2023**|**2022**|
|||**£**|**£**|
|From General Fund to Love Gift Fund|Tithed giving to support Love Gift Fund|600|600|
|To Love Gift Fund from General Fund|Tithed giving to support Love Gift Fund|(600)|(600)|
|From General Fund to People in Immediate Need|Tithed giving for People in Immediate Need Fund|600|600|
|To People in Immediate Need from General Fund|Tithed giving for People in Immediate Need Fund|(600)|(600)|
|To General Fund from Social & Fellowship Fund|Social & Fellowship activities absorbed in General|1705||
|From Social & Fellowship Fund to General Fund|Social & Fellowship activities absorbed in General|(1705)||
|||________|______|
|||0|0|
|||=======|=======|
## **Thomas Clarkson Centre**
There were no transfers between funds of the Thomas Clarkson Centre or from or to those funds involving other Parish Funds in 2022 or in 2023.
17
## **Notes to the Financial Statements (continued)**
For the year ended 31 December 2023
|**10 Fixed assets for use by PCC**|**10 Fixed assets for use by PCC**|||**St Mary's**|||
|---|---|---|---|---|---|---|
|||||**£**|||
|||General
Office
Equipment|Projector|Audio Visual
Equipment|Copier|Total|
|Cost|At 31 December 2022|1767|6695|0|2645|11107|
|Additions||||||0|
|Disposals||||||0|
|Cost|At 31 December 2023|1767|6695|0|2645|11107|
|||====|====|====|====|====|
|Accumulated depreciation|At 31 December 2022|1767|6695|0|2645|11107|
|Charge for year|||||0|0|
|Depreciation on disposals||||||0|
|Accumulated depreciation|At 31 December 2023|1767|6695|0|2645|11107|
|||====|====|====|====|====|
|Net Book Value|At 31 December 2023|0|0|0|0|0|
|||====|====|====|====|====|
|Net Book Value|At 31 December 2022|0|0|0|0|0|
|||====|====|====|====|====|
|||||**St Peter's**|||
||||||**£**||
||||Chairs|Audio Visual
Equipment|Copier|Total|
|Cost|At 31 December 2022||9419|0|1323|10742|
|Additions||||||0|
|Disposals||||||0|
|Cost|At 31 December 2023||9419|0|1323|10742|
||||====|====|====|====|
|Accumulated depreciation|At 31 December 2022||9419|0|1323|10742|
|Charge for year|||||0|0|
|Depreciation on disposals||||||0|
|Accumulated depreciation|At 31 December 2023||9419|0|1323|10742|
||||====|====|====|====|
|Net Book Value|At 31 December 2023||0|0|0|0|
||||====|====|====|====|
|Net Book Value|At 31 December 2022||0|0|0|0|
||||====|====|====|====|
||||||**Thomas Clarkson Centre**||
|||||||**£**|
||||||**2023**|**2022**|
|Property at valuation|At 31 December 2012 & 2013||||250000|250000|
|Expenditure of Development to 31 December 2009|||||21776|21776|
|Expenditure of Development Y/E 31 December 2010|||||104934|104934|
|Expenditure of Development Y/E 31 December 2011|||||185375|185375|
|Expenditure of Development Y/E 31 December 2012|||||7714|7714|
|Expenditure of Development Y/E 31 December 2013|||||3800|3800|
||||||______|______|
|Valuation and development|expenditure at end of year||||573599|573599|
||||||=======|======|
The Clarkson Centre has been included at a valuation as at 31 December 2005 together with expenditure on work on the extension to the Centre. The valuation was carried out by Tony Redman, MA, BSc, FRICS, IHBC. His qualification to carry out this valuation is as a partner in the firm of Whitworth Co-Partnership, Chartered Architects and Surveyors.
The basis of valuation is to value the PCC's freehold interest in the School Unit, car park and orchard at Hospital Road Bury St Edmunds on a "value in use" basis. The valuation excludes the consecrated ground and the structure of St Peter's Church. It recognises that the use of the site is limited to any ecclesiastical purpose affecting the parish and any purposes in connection with educational schemes for providing facilities for the spiritual moral and physical training of persons residing in or near the parish. The title to the site is held as custodian trustee by the Diocesan Board of Finance.
There are no surviving records of the historical cost of this site.
It was not valued prior to 2005, since, under SORP 1995, it has been excluded from the Balance Sheet by reason of its having been regarded as an "historic asset".
Depreciation has not been charged in respect of the Thomas Clarkson Centre. This is in the context of the potential depreciation charge and the accumulated depreciation not being material because the estimated residual value of the asset is not materially different from the carrying amount of the asset. The asset has been subject to an impairment review. That review has concluded that the net realisable value is not lower than the net book value.
18
## **Notes to the Financial Statements (continued)**
For the year ended 31 December 2023
|**11 Investments - fixed assets**|||
|---|---|---|
|**St Mary's**|**2023**|**2022**|
||**£**
|**£**|
|Endowments at market value|52884|48336|
|General Fund assets|||
|- Central Board of Finance at market value (cost £1406; 2022 £1406)|31783|29050|
|Chancel Repair assets at market value|||
|- St Edmundsbury and Ipswich DBF|10974|10724|
|Rae portfolio at market value|||
|- Central Board of Finance Investment Fund (cost £101503; 2022 £101503)|216077|197496|
||________|________|
||311718|285606|
||=======|=======|
|Croasdale and Fabric Committee portfolios at market value|||
|- Central Board of Finance Investment Fund (cost £15453; 2022 £15453)|31665|28942|
|Mission Development portfolio at market value|||
|- Central Board of Finance Fixed Interest Fund (cost £9447; 2022 £9447)|8094|7666|
|- Central Board of Finance Investment Fund (cost £54764; 2022 £54764)|104807|95794|
|Porter portfolio at market value|||
|- CBF Investment Fund (cost £71487; 2022 £71487)|98591|90113|
||______|______|
||243157|222515|
||=======|=======|
|**St Mary's: for Fabric Fund**|||
|Fursland CBF portfolio (original value £163,996; 2022 £163,996)|240312|219647|
||______|______|
||240312|219647|
||=====|=====|
|**12 Investments**|||
|**St Peter's**|**2023**|**2022**|
||**£**
|**£**|
|Fabric portfolio at market value|||
|- Central Board of Finance Investment fund (cost£100,000; 2022 £100,000)|170068|150971|
||=====|=====|
## **13 Debtors**
|**13 Debtors**||||||
|---|---|---|---|---|---|
||**St Mary's St Peter's**||**Thomas**
**Clarkson**|**Parish**|**Parish**|
||||**Centre**||**2022**|
|Tax recoverable:||||||
|restricted funds|495|||495|588|
|unrestricted funds||||0||
|Restricted funds|1146|||1146|1171|
|Prepayments|401|||401|375|
|Amounts due from other||||||
|parts of Parish||||0|560|
|Other debtors|5760||501|6261|6581|
||______|_______|_______|______|______|
||7802|0|501|8303|9275|
||======|=======|======|======|======|
|**14 Current liabilities**||||||
||**St Mary's St Peter's**||**Thomas**
**Clarkson**|**Parish**|**Parish**|
||||**Centre**||**2022**|
|Creditor restricted funds:||||||
|Mission collections|1439|1728||3167|4745|
|Fabric||||0|56|
|Other||||0|1252|
|Accruals & deferred income|13231||10607|23838|27476|
|Amounts due to other||||||
|parts of Parish||||0|560|
|Other creditors|4515|3||4518|4064|
||______|_____|_____|______|_____|
||19185|1731|10607|31523|38153|
||======|=====|======|======|=====|
19
Notes to the Financial Statements (continued) For the year ended 31 December 2023
## **15 Loans**
No loans received from outside the PCC were outstanding at any time in the period of these financial statements
|**16 Analysis of Net Assets by Fund**||||||
|---|---|---|---|---|---|
|**St Mary's**|**Unrestricted**|**Restricted**|**Endowment**|**Total**|**Total**|
||**Funds**|**Funds**|**Funds**||**2022**|
||**£**|**£**||**£**|**£**|
|Fixed asset investments||||||
|Endowments|||52884|52884|48336|
|CBF Investments|31783|||31783|29050|
|DBF Investments||10974||10974|10724|
|Rae portfolio||216077||216077|197496|
|Porter portfolio||98591||98591|90113|
|Tangible assets||||0|0|
|Current asset investments||||||
|Croasdale & Fabric Committee||31665||31665|28942|
|CBF Mission Development portfolio|112901|||112901|103460|
|Stock of guides, cards & books|1265|||1265|1250|
|Debtors & prepayments|6161|1641||7802|9110|
|CBF Deposit Fund balances|15187|29638||44825|79825|
|Bank balances & deposits|58314|79401||137715|178439|
|Creditors|(17746)|(1439)||(19185)|(25098)|
||_______|_______|______|________|________|
||207865|466548|52884|727297|751647|
|Current asset investment||||||
|For St Mary Fabric Fund||||||
|Reginald Fursland portfolio||||||
|CBF Investment Fund||240312||240312|219647|
|CBF Deposit Fund balances||211||211|211|
||_______|_______|______|________|________|
||207865|707071|52884|967820|971505|
||=======|=======|======|=======|=======|
|**St Peter's**|**Unrestricted**|**Restricted**||**Total**|**Total**|
||**Funds**|**Funds**|||**2022**|
||**£**|**£**||**£**|**£**|
|Tangible Assets||||0|0|
|Bank balances & deposits|46196|194105||240301|248449|
|CBF Investments||170068||170068|150971|
|Debtors & prepayments||||0|0|
|Creditors|(3)|(1728)||(1731)|(2976)|
||_______|_______||________|________|
||46193|362445||408638|396444|
||=======|=======||=======|=======|
|**Thomas Clarkson Centre**|**Unrestricted**|**Restricted**||**Total**|**Total**|
||**Funds**|**Funds**|||**2022**|
||**£**|**£**||**£**|**£**|
|Property|250000|||250000|250000|
|Expenditure on development|323599|||323599|323599|
|Bank balances & deposits|47902|||47902|47890|
|Debtors & prepayments|501|||501|165|
|Creditors|(10607)|||(10607)|(10079)|
||_______|_______||________|________|
||611395|0||611395|611575|
||=======|=======||=======|=======|
20
## **Notes to the Financial Statements (continued)**
For the year ended 31 December 2023
|**17 Fund details**||
|---|---|
|**St Mary's**||
|The unrestricted funds were designated as follows :||
|General|furtherance of the mission of St Mary's|
|Surplus on CBF shares|surplus on General Fund investment therefore available to supplement General Fund|
|Clergy Housing Fund|fund to finance maintenance of Clergy Housing for areas not maintained by Diocese|
|Mission Development|financing of projects to advance the mission of St Mary's|
|Surplus on Mission|surplus on Mission Development Fund investments therefore available to supplement|
|Development portfolio|Mission Development Fund|
|Social & Fellowship|internal and external mission|
|Sound|maintenance and refurbishment of sound system|
|Tiddlywinks/Happy Hands|work with young children & parents|
|The restricted funds consist of:||
|Choir Association|to maintain and develop St Mary's Choir|
|Fabric Fund|to maintain and improve the Church fabric|
|Flowers|provision of flowers and floral displays|
|Mission Fund|collections on behalf of other church societies & secular charities|
|Organ Fund|to renovate and improve the Church organ|
|Phoenix Folk Group Fund|to bring music to the wider community; dormant|
|Projects Fund|Projects to improve the environment for worship within St Mary's|
|Surplus on Fursland portfolio|Surplus on investments held from 2011 for Fabric Fund therefore available to|
||supplement Fabric Fund|
|Surplus on Porter portfolio|Surplus on Fabric Fund investments therefore available to supplement Fabric Fund|
|Surplus on Rae portfolio|Surplus on Fabric Fund investments therefore available to supplement Fabric Fund|
|Surplus on DBF deposit|to maintain and improve the Church fabric particularly the Chancel|
|Surplus on Croasdale||
|bequest & fabric stocks|Surplus on Fabric Fund investments therefore available to supplement Fabric Fund|
|The endowment funds consist of :||
|Name|Value (£)
Valuation Date
Endowment in favour of|
|Sayer bequest|32213
31/12/2023
Fabric|
|Plumpton bequest|9811
31/12/2023
Organ|
|Raingate Street charity|3933
31/12/2023
General/Mission Development|
|Chancel Repair Fund|5538
31/12/2023
Fabric/insurance|
|J Sutton|417
31/12/2023
General|
|St Mary's Estate|723
31/12/2023
General|
|Lady Rivers Charity|249
31/12/2023
General|
Though St Mary's receives the income on the Sayer Bequest, Plumpton bequest and Raingate Street Charity, and is entitled to the income on the Chancel repair fund, the capital is held by the Diocesan Board of Finance, as custodian trustee who hold the capital in the form of shares in the Central Board of Finance Investment Fund. St Mary's PCC holds the capital of the J Sutton, St Mary's Estate and Lady Rivers Charity in the form of shares in COIF Charities Investment Fund, shares in the CBF Investment Fund and shares in the CBF Investment Fund respectively. These are all permanent endowments which the PCC is not permitted to realise.
21
## **Notes to the Financial Statements (continued)**
For the year ended 31 December 2023
## **17 Fund details (Continued) St Peter's**
The unrestricted fund consists of : General Daphne Swatman Mission Fund
furtherance of the mission of St Peter's bequests and donations for the development of mission This fund was characterised prior to 2013 as a Restricted Fund In 2016 this fund was renamed and absorbed the balance of the formerly named Mission Development Fund
The restricted funds consist of: Little Fishes (Toddler Group) Love Gift Fund
work with young children & parents
Love Gift Fund giving a gift that is not urgent or essential but an expression of God’s love, expressed through His church Mission Fund collections on behalf of other church societies & secular charities Fabric Fund to maintain, reorder and improve the Church fabric In 2016 this fund was renamed and absorbed the balance of the formerly named Reordering Fund Surplus on Fabric portfolio Surplus on Fabric Fund investments therefore available to supplement Fabric Fund People in Immediate Need giving relief to people in immediate need Social & Fellowship internal and external mission
## **Thomas Clarkson Centre**
The unrestricted fund consists of: General letting and investment income and running costs The restricted fund consists of: Appeal for equipment
Special appeal for equipment and expenditure on that equipment
## **18 Bequests**
The total bequests and donations in memoriam for the year were as follows
|||2023||2022|
|---|---|---|---|---|
|||£||£|
||St Mary's|St Peter's|Parish|Parish|
|Restricted and Designated Funds|||||
|including Fabric Fund|||||
|Shirley Spencer|||0|1000|
|Unrestricted Funds|||||
|Sheila Gertrude Bennett|||0|3000|
|Mary Tarry|1000||1000||
|Faith Margaret Walker|5898||5898||
||_______|_______|______|_______|
||6898|0|6898|4000|
||=======|=======|======|======|
## **19 Grants made and collections paid to others**
The following grants were made to other organisations and individuals
||2023|2022|
|---|---|---|
||£|£|
|St Mary's|||
|from restricted funds|6657|5159|
|from unrestricted funds|13166|11838|
||----------|----------|
|total|19823|16997|
||=====|=====|
|St Peter's|||
|from restricted funds|9287|8939|
|from unrestricted funds|6551|6537|
||----------|----------|
|total|15838|15476|
||=====|=====|
|Parish total|35661|32473|
||=====|=====|
22
## **Notes to the Financial Statements (continued)**
For the year ended 31 December 2023
## **19 Grants made and collections paid to others (Continued)**
The recipients of these grants were as follows:
|||2023||2022|
|---|---|---|---|---|
||St Mary's|St Peter's|Parish|Parish|
|||£||£|
|A2B (Aid to Balkans)||1200|1200|1200|
|BCY|927|1200|2127|1892|
|Bury Drop In Centre|1032||1032|692|
|Bury Town Pastors|250|1200|1450|1892|
|Children's Society|||0|0|
|CAP (Christians Against Poverty)||1200|1200|1200|
|Churches Together|66|66|132|120|
|Covid-19 Appeal|||0|0|
|Dignity Freedom Network|937||937|798|
|DOXA|||0|0|
|Embrace the Middle East|||0|0|
|Ethiopia Appeal|||0|252|
|Family & Community Network|||0|0|
|Global Hope|942||942|798|
|Gwomtanzi church roof appeal|1381||1381|0|
|Leprosy Mission|||0|275|
|Montgomery Heights|1422||1422|1119|
|Open Doors|1673||1673|1054|
|Pakistan Flood appeal|||0|343|
|Rattlesden Refugee Support|||0|62|
|RAF Benevolent Fund|644||644|0|
|Royal British Legion|793||793|864|
|St George's Day|||0|340|
|SIM/Fifields|6380||6380|6530|
|SIM/How will they Hear/Greece||1200|1200|1400|
|Simeon/Hyndman Trustees|100|100|200|0|
|Sporting 87|922||922|764|
|Storehouse|45|9287|9332|9109|
|Tanzania Church Partnership Association|||0|0|
|Tearfund|270||270|842|
|Turkey/Syria appeal|678||678|0|
|Ukraine Appeals|1361||1361|927|
|Water for Africa|||0|0|
|Other||385|385|0|
||---------|---------|---------|---------|
||19823|15838|35661|32473|
||======|=====|======|======|
23
## **Notes to the Financial Statements (continued)**
For the year ended 31 December 2023
## **20 Restatements made to 2022 financial statements**
No restatements were made to the statutory financial statements
## **21 PCC responsibilities for repair**
No general provision has been made in the accounts for liabilities to maintain the Church buildings.
At St Mary's all major work identified by the latest quinquennial survey was carried out in 2023, subject to minor snagging items. All planned work on the audio visual system was completed in 2023. No large items of expenditure on fabric are expected to be incurred in 2024.
A quinquennial inspection of St Peter's church was carried out in March 2022. Two sections were identified as needing remedial works and repairs at estimated costs of £4,000 for general repair work and £9,500 for repairs to stonework. Some of the general repair works have been carried out by church members. Stonework repairs were planned for late Spring 2023 and are expected to take place in Spring 2024 subject to approval of the schedule of work.
A revised scheme for the proposed extension to the main building has been put forward and gained initial Local Authority approval. Revised plans have DAC approval in very general terms and further comments from the Victorian Society have been received and are to be discussed.
Work was completed in 2013 on a major scheme affecting the structure of the Thomas Clarkson Centre. Further refurbishment and security work was carried out in 2019. Further refurbishment is expected in future years dependent on available resources.
## **22 Material transactions with members of the PCC**
Other than the remuneration and benefits referred to in note 7 above, there have been no material transactions undertaken in the name of or on behalf of the PCC in which any person connected with the PCC has a material interest. The total income donated by members of the PCC amounted to £34,693. This amount does not include recurrent recoveries of tax under the Gift Aid provisions, which are estimated to amount to £8,673 **.**
## **23 Remuneration of auditor/independent examiner**
Robin Jackson, director of Churchgate Accountants Ltd, Bury St Edmunds has acted as independent examiner of the 2022 financial statements.
These statements contain a cost of £200 in respect of Independent Examination of the 2022 financial statements and report and a provision of £200 in respect of Independent Examination for 2023.
In both cases the £200 was the net cost to the PCC; that net cost was made up of a charge of £1,200, reduced by a donation of £1,000 to the PCC by Churchgate accountants Ltd.
No fees were paid to the Independent Examiner in respect of any other services rendered to the PCC. Fees were paid to Churchgate Accountants Ltd of £1,164 (2022 £nil) in respect of the provision of payroll services.
## **24 Insurance of buildings**
The insurance cover of the buildings and contents at October 2023 were as follows : St Mary's Church £48,230,000, St Peter's Church £6,650,00 and Thomas Clarkson Centre £3,300,000.
The valuations were based on surveys carried out in 2023 and include improvement work at the Thomas Clarkson Centre. Insurance cover is 100% of the valuations of St Mary's, St Peter's and the Thomas Clarkson Centre.
24
Independent Examiner's Report to the trustees of St Marfs with St
Peter's Parochial Church Council
I report on the accounts of St Marfs with St Peterfs Parochial Church Council for the year ended 31
December 2023. which are set out on pages I to 24.
This report is made solely to the tru5tee5, as a body. in accordance with the General Directions given by the
Charity Commission. My work has been undertaken so that I might state to the charity's trustees those
matters l arn required to state to them in an independent examiner's report and for no other purpose. To
the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity
and the charity's trustees as a body. for my work. for this report. or for the opinions I have formed.
Respectlve responslbllltles of the trustees and examlner
The charivs trustees are responsible for the preparation of the accounts. The trustees consider that an
audit is not required for this year under 5ertion 144 of the Charities Act 2011 Ithe Charities Act) and that an
independent examination is needed. The charitys gross income exceeded £250.CKIO and l am qualified to
undertake the examination by being a qualified member of the ICAEW.
It is my responsibility to=
examine the accounts under section 145 of the Charities Act:
follow the procedures laid down in the General Directions given by the Charity Commission under section
14515llbl of the Charities Act: and
to state whether particular matters have come to my attention.
Basls of Independent examlnerfs report
My examination was carried out in accordance with the General D1ctIOnS given by the Charity Commission.
An examination include5 a review of the accounting records kept by the charity and compari50n of the
accounts presented with those records. It also includes consideration of any unusual items or disclosures in
the accounts, and seeks explanations from you as trustees concerning any such matters. The procedures
undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion
is 8iven as to whether the accounts present a 'true and fairf view and the report is limited to those matters
set out in the ststement below.
Independent e¥aminer's statement
In connection with my examination. no material matters have come to my attention which gives me cause to
believe that in, any material respect:
the accounting records were not kept in occordance with section 130 of the Chartties Act; or
the accounts did not accord with the accountin8 records,- or
the accounts did not comply with the applicable requirements concerning the form and content of
accounts set out in the Charities (Account5 and Reportsl Regulations 2008 other than any requirement
that the accounts give a 'true and fairf view which is not a matter considered as part of an independent
examination.
I have come across no other matters in connertion with the examination to which attention Should be drawn
in this re
order to enable a proper understanding of the accounts to be reached.
Signed
Date 17Tr APQIL 202¥
Robin Jackson FCA Chartered Accountant
Churchgate Accountants Limited
Langton Place
Bury St Edmunds