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2022-12-31-accounts

Finance and Trustee Report for St Nicholas Church Nottingham 2022 St Nicholas’ church is an Anglican Church in the Diocese of Southwell an Nottingham and a charity registered in England and Wales number 1134708 Annual

Report for

2022

Minutes of the Annual Parochial Church Meeting

St Nicholas’ Church, Nottingham

Tuesday 10[th] May March 2022 at 7.30pm

Chair: Steve Silvester

1. Welcome

The rector welcomed everyone to the meeting.

There were 85 people present.

Apologies included: Andy Day, Nick and Debbie Blane, Peter and Maggie Bates, Ian Paul, Gill Calder and Paul Evans.

Fran Finn and Betsy Cleave led us in singing ‘We welcome you with praise’.

2. Minutes

Minutes of the last APCM held on 23rd March 2021 were approved with no requests for amendments. These had been agreed as accurate at the PCC meeting on 5[th] July 2021.

3. Electoral Roll update

Sarah McCracken reported that the electoral roll stands at 257 people:

4. Elections

Election of Churchwardens

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The rector thanked Juliet Wright and Alison Fletcher for their work over the last year as churchwardens, and for being willing to stand again.

Juliet Wright was nominated by Graham Bowpitt and seconded by Patrick Shannon Alison Fletcher was nominated by Emily Huggard and seconded by Fatemah Mansouri.

Both were elected unanimously.

Approval of stewards and duty wardens

Alison Fletcher outlined the role of the stewards and duty wardens, and thanked them.

A list of all the duty wardens was shown on screen and approved:

John and Wendy Sayers Hugh and Di McClintock Martyn and Priscilla Paradise Vanessa Owen Jerome and Adline Daniels Max and Carol Kay Sue and Peter Ellis Dave Wakefield Rachel Broughton Julie Bignell Sam and Abi Riley

Election of Deanery Synod representatives

Election of members to the Parochial Church Council (3 for one year, 2 for two years)

The rector thanked Adam Thomas (since 2018) for his service on PCC.

There are 5 vacancies:

All were elected without the need for a vote.

Tenure: 2 were elected until 2023, and 3 were elected until 2024. The tenure will be decided at the PCC meeting on 21 May 2022.

Nominee Proposer Seconder
Priscilla Paradise David Hepworth Mike Kirk
Grace James Dave Wakefield Alison Fletcher
Lisa
Chamberlain		 Peter McCracken Juliet Wright
Karen Pheasant Alison Fletcher Anne Cook

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St Nic’s Nottingham, Financial & Trustee Report for the year 2022

Andy Day Juliet Wright Priscilla Paradise

5. Audited accounts of the Parochial Church Council and the Treasurer’s Report for the year ended 31 December 2021 (see the Annual Report)

Trevor Peel presented the 2021 accounts by referring to the audited accounts already circulated in the Annual reports for 2021.

He led us to thank God for meeting our budget in 2021. As a church we are required to set a balanced budget, and this is monitored by the PCC throughout the year.

He encouraged regular givers to gift aid their donation. He’ll be writing to regular givers who don’t currently do this.

He encouraged us to pray for increased funds to replace that lost by people moving away, for example to the grafts. This could be a drop of around 7.5% (£28,000) in 2022.

In response to a question, Jonathan Etheridge indicated that for the 79 Maid Marian Way project we have received just over £1m in gifts, pledges, funds and legacies. Jonathan thanked everyone for their prayer and financial support for the project.

Trevor responded to a question on the rising cost of living to say that we understand how this can affect people’s capacity to give. Steve reminded the meeting about St Nicholas’ purse, a fund for the alleviation of hardship amongst church members. People can contribute to the fund at any time. Donations are managed through standing committee.

The accounts had been approved by the PCC. Sarah McCracken proposed that the APCM accepted the accounts, seconded by Sarah Churchill. This was approved unanimously.

Steve thanked Trevor Peel and all those who are involved in accounts, including Mike Kirk, Dave Hepworth and Jon Holt.

6. Appointment of Independent Examiner for 2021

Chris Nurden completed the inspection this year and he is willing to do so next year.

The proposal that Chris Nurden be appointed as independent examiner for 2022 was proposed by Trevor Peel and seconded by Sinclair Payne, and unanimously approved.

If the church raises more than £1m over the next year, an auditor will be required rather than an examiner.

7. Safeguarding report

The Safeguarding report was circulated.

Steve thanked Karen Pheasant for leading Safeguarding at St Nic’s, and for those involved in Safeguarding including Janet Smith and Debbie Blane.

8. Report on fabric, goods and ornaments of the church (see Annual Report)

The church wardens reported that the terrier and inventory are in good order.

9. Report on the proceedings of the PCC (see Annual Report)

The rector explained that the annual report on the proceedings of the PCC gave an insight into

St Nic’s Nottingham, Financial & Trustee Report for the year 2022

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matters dealt with by PCC and invited questions.

Fran Finn interviewed representatives from several ministries to share highlights from the year, and prayer requests:

Ellie Winfield, Refugees : developing links with health visitor teams has led to 3 – 4 families per month being referred to Ellie and volunteers.

Esther Townsend, Youth : Bluecoat Academy 6[th] Form holds an act of worship on Monday mornings at St Nic’s, and contacts are growing with Y11 at Bluecoat Aspley.

Jo Rainbow, English at St Nic’s : around 70 students are now coming to learn English each week and are increasingly feeling welcomed and safe.

Daniel Bochetti, Globe Café and International Students : great attendance at these initiatives at St Nic’s, as well regular gatherings at Nottingham Trent University.

Rich Wood, Children’s ministry : Powerlab (Easter 2022) was the highlight, as well as ongoing children’s work including TOTs and Sparklers.

Amor y Esperanza : video showing the commissioning of Yancy Holden for Amor y Esperanza.

10. Report on the proceedings of Deanery Synod (see Annual Report)

The rector asked if there were questions on deanery synod report.

11. Rector’s remarks

Kez Nightingale facilitated a Q&A with Steve, based on questions submitted in advance of the APCM.

Communion

Worship

Pastoral – Jane Silvester

Post graft

79 Maid Marian Way – Jonathan Etheridge

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St Nic’s Nottingham, Financial & Trustee Report for the year 2022

Steve added: “This is a time to stretch our faith muscles. We need to pray with faith and expectation.”

Prophetic vision

The meeting concluded with worship and prayer.

Approved by Date

7. FINANCIAL REVIEW

The Statement of Financial Activities (SOFA) for the year ended 31 December 2022 shows a net loss before transfers on the Unrestricted General Fund of £55,439 This figure is after depreciation of our assets amounting to £59,530. This is an accounting adjustment we are required to make but does not represent any cash payment. The PCC budgets for and manages the net surplus or deficit prior to depreciation charges, which was therefore a net income of £4,091. In order to build our reserves for future expenditure, we would normally transfer funds to the Fabric Fund, the Capital Projects Fund and to the Swanwick fund. However, due to the lack of funds this was deferred by the PCC in 2022.

Our bank deposit account and the cash at bank balances on 31 December 2022 amounted to £1,088,704. Of this £961,353 relates to funds restricted to building or other projects, leaving £127,351 on unrestricted funds. Practically all the income is derived from direct giving by church members. The summary in Section 13 shows how expenditure has taken place in supporting our objectives.

FINANCIAL RESERVES: The PCC has agreed that we need to retain the equivalent of three months expenditure in unrestricted readily available reserves in order to meet any unexpected liabilities that may arise. Based on the accounts for 2022 this would amount to £103,972. At 31 December 2022 net current assets on unrestricted funds amounted to £163,613, including £29,239 of outstanding tax recoverable on gift aid donations.

The policy of the PCC in respect of reserves is that cash resources should be such that all restricted and designated funds are available in cash or deposits, together with the equivalent to 3 months of expenditure in unrestricted funds. This takes into account that in emergencies the PCC have assets against which borrowings could be secured

pending an appeal to the congregation for funds to support the church’s mission. It is further recognised that while the payment of Parish Share remains a priority, in an emergency payment could be deferred in consultation with the diocese.

In addition to the unrestricted general reserves, the PCC has the following designated reserves:

Fabric reserve

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At 31 December 2022 this amounted to £44,515 after £22,410 was spent on recovering the chairs that are used in Church

In view of the age of the building from which the church operates, repairs can be costly, in particular cyclical repairs such as redecoration that arise from time to time. The PCC try to allocate an amount to this fund each year to accumulate a reserve to avoid the need for additional fundraising at the time repairs are required.

79MMW project.

Restricted funds held represent monies received for specific purposes prescribed by the donor or collections taken for specific purposes of which the donor was aware at the time they made their gift which have not yet been paid over to the ultimate beneficiary.

Signed on behalf of the PCC

Capital projects fund At 31 December 2022 this amounted to £211,982. In 2022 PCC agreed to transfer the balance on the Capital Projects Fund to the Hall Fund for the

(Church Warden) 20[th] March 2023

8. INDEPENDENT EXAMINERS REPORT

Section A Independent Examiners Report

Report to the trustees The Parochial Church Council of the Ecclesiastical Parish of St Nicholas’, Nottingham On accounts for the year 31 December 2022 Charity no 1134708 ended Set out on pages 9-20 (remember to include the page numbers of additional sheets)

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 December 2022.

Responsibilities and As the charity's trustees, you are responsible for the preparation of the basis of report accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

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St Nic’s Nottingham, Financial & Trustee Report for the year 2022

Independent examiner's statement

The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of The Institute of Chartered Accountants in England and Wales .

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed:
Name:
Relevant professional
qualification(s) or body
Address:		 20/03/23
Chris Nurden
Institute of Chartered Accountants in England and Wales
26 The Parks, Minehead
Somerset TA24 8BT

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St Nic’s Nottingham, Financial & Trustee Report for the year 2022

9. ACCOUNTING POLICIES & DISCLOSURES

BASIS OF PREPARATION

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note to these accounts. The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK & Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Financial Reporting applicable in the United Kingdom and Republic of Ireland (FRS 102) and with the Charities Act 2011 and the Church Accounting Regulations 2006. Going Concern: The accounts have been prepared under the basis of the charity being an ongoing concern.

FUNDS

The Unrestricted General Fund is available for use at the discretion of the PCC to further the general objectives of the church. Designated Funds are unrestricted funds set aside by the PCC for specific future purposes or projects. Restricted Funds are funds that can only be used for particular purposes within the objects of the church. The aim and use of each fund is set out in the notes to the Financial Statements.

INCOME

Donated income without conditions attached, including that gifted under Gift Aid, is taken into account when received by the Charity. Income Tax recoverable on gift aid accounts is recognised when the gift aid income is received. Any amount of tax not yet claimed from HM Revenue & Customs is shown within the Debtors list. Funds raised for events are accounted for gross. Income from building hire is recognised when rental is due.

EXPENDITURE

Expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation. All costs have been directly attributable to one of the headings used in the SOFA. The church is not registered for VAT and accordingly expenditure is shown gross of VAT. Expenditure that is directly attributable to meeting charitable objectives is included in costs of activities in furtherance of the charity’s objects.

CAPITALISATION OF LAND AND BUILDINGS

Under the provisions of FRS 15, land and buildings are valued at historical cost and no depreciation is charged against them. Buildings are maintained to such a standard that their estimated residual value is not less than their net book value at any given time. Costs incurred in keeping buildings in a fit and useful condition are written off as incurred. Consecrated and benefice property is excluded from the accounts by nos. 10 (2), (3), (4) of the Charities Act 2011. Enhancements of buildings paid for by the PCC such as the church re-ordering carried out during 2011 are capitalised and written off over a period of 20 years.

FIXED ASSETS

Fixed Assets have been capitalised at cost and the depreciation is calculated so as to write off the cost of the fixed asset on the following basis: Building Enhancements 5% Fixtures and Fittings 10% Other Equipment 25% Computers 33%

CURRENT ASSETS

Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove un-collectable. Short-term deposits include cash held on deposit either with the Central Board of Finance or Bank.

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St Nic’s Nottingham, Financial & Trustee Report for the year 2022

PENSION POLICY

Pension contributions are paid to the Pension Builder Classic section of the Church Workers Pension Fund, a defined benefit scheme, based on the level of contributions paid on behalf of each employee. Further details of the pension fund are contained in the notes to the accounts. Contributions are recognised as resources expended at the time the salary cost to which they relate is incurred.

GRANTS AND MISSIONARY SUPPORT

Grants for the support of mission partners are accounted for on the basis of support agreed by the PCC that relates to the financial year. The church supports various mission partners and organisations. Where a

particular mission partner has been supported by the church for a number of years, strict compliance with the Charities’ Statement of Recommended Practice (SORP) may regard some arrangements as constituting constructive obligations such that future years’ support is accounted for in these accounts as a liability. Whilst the support has no final end date, the PCC assess mission partner funding on an annual basis and are confident that the mission partners would not view their support as an open-ended obligation on the part of the church.

OPERATING LEASES

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight-line basis over the period of the lease.

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St Nic’s Nottingham, Financial & Trustee Report for the year 2022

10. STATEMENT OF FINANCIAL ACTIVITIES

Statement of Financial Activities

Year ended 31 December 2022

2022 2022 2021
General General
Unrestricted Designated
Note Funds Funds Restricted Funds Total Funds Total Funds
Income & endowments from:
Donations & legacies 1,9 343,596 - 325,530 669,126 738,923
Charitable activities 2,9 12,653 - 87,011 99,664 30,119
Investments 3, 8, 9 2,872 2,449 5,748 11,069 202
Total income 359,121 2,449 418,289 779,859 769,244
Expenditure on:
Charitable activities 4
Wider Church/Parish Share 122,942 - - 122,942 122,618
Teaching & Pastoral 85,585 22,410 65,987 173,982 93,013
Youth & Children 104,256 - 16,836 121,092 96,511
Mission & outreach UK 22,902 - 32,067 54,969 30,629
Mission & outreach Overseas 29,842 - 5,045 34,887 30,381
Evangelism & Outreach 50,362 - - 50,362 42,036
Total expenditure 415,889 22,410 119,935 558,234 415,188
Net income/(expenditure) (56,768) (19,961) 298,354 221,625 354,056
Transfers to Designated/Restricted Funds - (211,982) 211,982 - -
Transfers from Designated/Restricted Funds 1,329 - (1,329) - -
for capital expenditure
Net Movement in funds (55,439) (231,943) 509,007 221,625 354,056
Reconciliation of Funds
Total Funds brought forward 718,295 286,458 438,615 1,443,368 1,089,312
Total Funds carried forward 662,856 54,515 947,622 1,664,993 1,443,368

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St Nic’s Nottingham, Financial & Trustee Report for the year 2022

11. BALANCE SHEET AND STATEMENT OF CASH FLOWS

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St Nic’s Nottingham, Financial & Trustee Report for the year 2022

Balance Sheet Balance Sheet
at 31 December 2022
2022 2021
Tangible Fixed Assets 10 530,618 583,665
Current Assets
Debtors 12 56,814 80,429
Prepayments 13 7,023 5,828
Deposit Account 923,953 612,919
Cash at bank and in hand 164,751 168,505
1,152,541 867,681
Current Liabilities
Amounts falling due within one year 14,15 (18,166) (7,979)
Net current Assets 1,134,375 859,702
Total Net Assets 1,664,993 1,443,367
The Funds of the Charity
Unrestricted General Funds 11 662,856 718,294
Designated General Funds 8 54,515 286,458
Restricted Funds 9 947,622 438,615
1,664,993 1,443,367

Approved by the Church Council on 20th March 2023 and signed on its behalf by

(Church Warden)

Statement of Cash Flows Year ended 31 December 2022

Cash fows from operating activities
Net income for the fnancial year
Adjustments for:
Depreciation of property, plant and equipment
Decrease (increase) in debtors
Decrease (increase) in prepayments
Decrease (increase) in current liabilities
Net cash from operating activities
Cash fows from investing activities
Additions to fxed assets during the year
Net cash provided by investing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2021
221,625
354,056
59,530
59,629
23,616
(48,751)
(1,195)
55
10,187
(8,471)
313,763
356,518
(6,483)
(29,534)
(6,483)
(29,534)
307,280
326,984
781,424
454,440
1,088,704
781,424
2022

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St Nic’s Nottingham, Financial & Trustee Report for the year 2022

12. NOTES TO THE ACCOUNTS

1 Donations
Gift Aid
Income Tax recoverable
Other planned giving
Collections
Sundry Donations
2 Charitable activities
Sundry Sales
Building Hire
Fees
Events
Grants received
3 Income from investments
Bank Interest
4 Charitable Activities
Wider Church/Parish Share
Teaching & Pastoral
Youth & Children
Mission & outreach UK
Mission & outreach Overseas
Evangelism & Social Concern
There were no related party transactions		 2022
2021
Unrestricted
Designated
Restricted
Total
Total
234,503
-
122,159
356,662
471,122
58,842
-
30,539
89,381
118,211
40,108
-
161,658
201,766
139,140
1,151
-
6,660
7,811
4,646
8,992
-
4,514
13,506
5,804
2022
343,596
-
325,530
669,126
738,923
-
-
-
-
1,618
7,670
-
-
7,670
3,290
4,975
-
-
4,975
3,269
8
-
14,896
14,904
5,143
-
-
72,115
72,115
16,799
12,653
-
87,011
99,664
30,119
2,872
2,449
5,748
11,069
202
2,872
2,449
5,748
11,069
202
Activities
undertaken
directly
Grant funding
of activities
Support Costs
2022 Total
2021 Total
117,840
-
5,102
122,942
122,618
9,072
-
76,513
85,585
78,373
2,243
-
102,013
104,256
96,511
-
2,499
20,403
22,902
21,748
-
17,089
12,753
29,842
27,119
1,025
11,081
38,256
50,362
42,036
130,180
30,669
255,040
415,889
388,405

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St Nic’s Nottingham, Financial & Trustee Report for the year 2022

5 Support Costs

The allocation of support costs has been based on an estimated proportion of staff time costs and the expenditure related to their activity. Wider church 2%, Teaching and Pastoral 30%, Youth & Children 40%, UK Mission 8%, Overseas Mission 5%, Evangelism 15%

Teaching & Mission
Wider Church Pastoral Youth & Children Mission UK overseas Evangelism Total
Stafng 3,054 45,814 61,085 12,217 7,636 22,907 152,713
Building 536 8,037 10,716 2,143 1,339 4,018 26,789
Insurance 130 1,943 2,589 518 324 971 6,475
Administration 191 2,860 3,812 763 477 1,430 9,533
Depreciation 1,191 17,859 23,811 4,762 2,977 8,930 59,530
5,102 76,513 102,013 20,403 12,753 38,256 255,040
Administration support costs includes £1,000 payable to the Independent Examiner and £812 paid under an operating lease
6 Stafng Costs 2022 2022 2021
Unrestricted Restricted Total Total
Pastoral Salaries 52,555 38,042 90,597 69,799
Admin & Support Salaries 64,235 - 64,235 62,232
Pastoral Expenses 23,248 - 23,248 11,450
Admin & Support Expenses 5,675 - 5,675 812
Pastoral Pension 5,995 3,524 9,519 7,530
Admin & Support Pension 6,005 - 6,005 5,879
HMRC Refund/Rebate/Furlough (5,000) - (5,000) (7,694)
152,713 41,566 194,279 150,008

At different times during the year the PCC employed a hispanic pastor, a student minister, a student worker, a children's minister, a youth team leader, a worship director, a refugee worker, a communications officer, an operations manager, an administrator and a cleaner, none of whom earned £60,000 or more. No expenses were paid to PCC members in their role as Trustees. Clergy expenses totalled £4,254. The expenses also include a self employed worship director and a firm of contract cleaners.

7 Grants Payable

7 Grants Payable
Institutions Individuals 2022 Total 2021 Total
Mission & Outreach UK 1,582 917 2,499 2,641
Mission & Outreach Overseas 500 16,589 17,089 15,177
Evangelism & Social Care 11,081 - 11,081 6,170
13,163 17,506 30,669 23,988
8 Designated Funds
Opening Closing
Balance Income Expense Transfers Balance
Fabric Reserve 66,925 - 22,410 - 44,515
Capital Projects Fund 209,533 2,449 - (211,982) -
Legacy Fund 10,000 - - - 10,000
286,458 2,449 22,410 (211,982) 54,515
The Fabric and Capital Project Funds are designated by the PCC to meet future expenditures in respect of repairs and
maintenance and other larger projects. In 2022 PCC agreed to transfer the balance on the Capital Projects Fund to the Hall
Fund for the 79MMW project. £22,410 was spent on recovering the chairs that are used in Church.
The Legacy Fund represents monies given to the PCC for future use as yet undefned

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St Nic’s Nottingham, Financial & Trustee Report for the year 2022

9 Restricted Funds
Expended Funds
Church Centre
Available Funds
Mission Partners
Events
Gifts
Collections
Hall Fund
House Trust
St Nicholas Purse
Language School
Church Weekend
Church Weekend Bursary
Refugee Worker
Refugee Funds
Chinese Church Pastoral Support
Hispanic Church Pastor
Youth Team Leader
Total Restricted Funds		 Opening
Balance
Income
Expense
Transfers
Closing
Balance
14,033 - -
-
14,033
14,033 - -
-
14,033
1,818
453
225
-
2,046
3,046
2,018
2,007
-
3,057
10
2,443
2,453
-
-
5,820
17,539
16,895
-
6,464
380,912
300,940
3,266
211,982
890,568
3,771
-
-
-
3,771
4,014
1,331
1,564
-
3,781
1,230
-
180
-
1,050
13,133
14,027
23,102
1,247
5,305
124
1,123
-
(1,247)
-
10,704
-
9,348
-
1,356
-
11,050
5,644
(1,329)
4,077
-
36,000
25,558
-
10,442
-
16,250
14,524
-
1,726
-
15,115
15,169
-
(54)
424,582
418,289
119,935
210,653
933,589
438,615
418,289
119,935
210,653
947,622

The Church Centre Fund represents capital invested in the Church Centre The Hall Fund represents donations received for the 79MMW project

St Nicholas purse is a fund used to support people in financial difficulty at the discretion of the Rector and the Standing Committee. The Language School represents donations received for the weekly Language School now running in St Nic's The House Trust represents donations received for a new project to provide suitable housing for young asylum seekers The Restricted Collection Fund represents donations given via St Nic's to be used for specified purposes. The Missionary Fund arises from donations given via St Nic's to be used for specified missionary organisations or individuals The church weekend fund represents monies allocated by the PCC towards the costs of the next church weekend The Bursary Fund represents donations received to subsidise individuals wishing to attend the church weekend The Events Fund is used for income and expenditure relating to specific events.

The Refugee Worker fund represents grants received for employment of a Refugee Worker The refugee funds represent grants received for work with refugees

The Chinese Church Pastoral Support fund represents grants received for work with refugees from Hong Kong The Hispanic Church Pastor fund represents grants received for the employment of a Hispanic Pastor The Youth Team Leader fund represents grants received for the employment of a Youth Team Leader

Restricted Funds 2021 for comparison
Expended Funds
Church Centre
Available Funds
Mission Partners
Events
Gifts
Collections
Hall Fund
House Trust
St Nicholas Purse
Language School
Church Weekend
Church Weekend Bursary
Refugee Worker
Refugee Funds
AV Project
Total Restricted Funds		 Opening
Balance
Income
Expense
Transfers
Closing
Balance
14,033 - -
-
14,033
14,033 - -
-
14,033
1,876
435
493
-
1,818
3,276
2,039
2,269
-
3,046
10
-
-
-
10
6,144
4,898
5,222
-
5,820
19,934
362,058
1,080
-
380,912
3,771
-
-
-
3,771
6,110
1,204
3,300
-
4,014
1,230
-
-
-
1,230
8,937
3,104
6,408
7,500
13,133
-
124
-
-
124
8,215
10,000
7,511
-
10,704
-
500
500
-
-
-
6,200
-
(6,200)
-
59,503
390,562
26,783
1,300
424,582
73,536
390,562
26,783
1,300
438,615
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St Nic’s Nottingham, Financial & Trustee Report for the year 2022

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10 Fixed Assets for use by the PCC
10 Fixed Assets for use by the PCC
Freehold Land &
Buildings
Fixtures &
Fittings
Church
Improvements
Total
Actual Cost at 1st January 2022
107,934
98,033
874,963 1,080,930
Additions
-
6,483
- 6,483
Cost at 31st December 2022
107,934 104,516 874,963 1,087,413
Depreciation Charge at 1st Jan
- (65,977) (431,288) (497,265)
Depreciation Charge for year
-(12,686) (46,844) (59,530)
Accumulated Depreciation
-(78,663) (478,132) (556,795)
Net Book Value 31 December 2022
107,934 25,853 396,831 530,618
Net Book Value 31 December 2021
107,934 32,056 443,675 583,665
11 Analysis of Net Assets by Fund
UnrestrictedDesignated
Restricted
Total
Fixed Assets for Church use
516,585
- 14,033 530,618
Current Assets
163,613
54,515
934,413 1,152,541
Current Liabilities
(17,342)
-
(824)
(18,166)
Fund Balance
662,856 54,515 947,622 1,664,993
12 Sundry Debtors
2022
2021
Gift Aid Tax
29,239
25,550
GA Tax - restricted funds
27,575
54,879
56,814
80,429
13 Prepayments
Insurance - Centre
443
394
Rates
111
250
Copier
159
300
CCLI
234
204
Misc
667
127
Intern Housing
5,409
4,553
7,023
5,828
14 Sundry Creditors
Gas & Elec
6,335
1,733
Stafng
2,794
-
Sundry
701
1,584
Service fees
568
211
Payroll
6,768
3,451
17,166
6,979
15 Accruals
Independent examination Fee
1,000
1,000
1,000
1,000
16 Commitments under operating leases
Operating leases which expire:
2022
2021
December 2024
1,622
2,099
At 31 December 2022 the PCC has remaining commitments under non-cancellable operating leases as set
out below:
Freehold Land &
Buildings
Fixtures &
Fittings
Church
Improvements
Total
Actual Cost at 1st January 2022
107,934
98,033
874,963 1,080,930
Additions
-
6,483
- 6,483
Cost at 31st December 2022
107,934 104,516 874,963 1,087,413
Depreciation Charge at 1st Jan
- (65,977) (431,288) (497,265)
Depreciation Charge for year
-(12,686) (46,844) (59,530)
Accumulated Depreciation
-(78,663) (478,132) (556,795)
Net Book Value 31 December 2022
107,934 25,853 396,831 530,618
Net Book Value 31 December 2021
107,934 32,056 443,675 583,665
11 Analysis of Net Assets by Fund
UnrestrictedDesignated
Restricted
Total
Fixed Assets for Church use
516,585
- 14,033 530,618
Current Assets
163,613
54,515
934,413 1,152,541
Current Liabilities
(17,342)
-
(824)
(18,166)
Fund Balance
662,856 54,515 947,622 1,664,993
12 Sundry Debtors
2022
2021
Gift Aid Tax
29,239
25,550
GA Tax - restricted funds
27,575
54,879
56,814
80,429
13 Prepayments
Insurance - Centre
443
394
Rates
111
250
Copier
159
300
CCLI
234
204
Misc
667
127
Intern Housing
5,409
4,553
7,023
5,828
14 Sundry Creditors
Gas & Elec
6,335
1,733
Stafng
2,794
-
Sundry
701
1,584
Service fees
568
211
Payroll
6,768
3,451
17,166
6,979
15 Accruals
Independent examination Fee
1,000
1,000
1,000
1,000
16 Commitments under operating leases
Operating leases which expire:
2022
2021
December 2024
1,622
2,099
At 31 December 2022 the PCC has remaining commitments under non-cancellable operating leases as set
out below:		 Freehold Land &
Buildings
Fixtures &
Fittings
Church
Improvements
Total
107,934
98,033
874,963 1,080,930
-
6,483
- 6,483
107,934 104,516 874,963 1,087,413
- (65,977) (431,288) (497,265)
-(12,686) (46,844) (59,530)
-(78,663) (478,132) (556,795)
107,934 25,853 396,831 530,618
107,934 32,056 443,675 583,665
UnrestrictedDesignated
Restricted
Total
516,585
- 14,033 530,618
163,613
54,515
934,413 1,152,541
(17,342)
-
(824)
(18,166)
662,856 54,515 947,622 1,664,993

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St Nic’s Nottingham, Financial & Trustee Report for the year 2022

17 Church Workers Pension Fund (CWPF)

DECEMBER 2022 YEAR END

The Parochial Church Council of St Nicholas' (Nottingham ) participates in the Pension Builder Scheme section of CWPF for lay staff. CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of the Employer and other participating employers.

CWPF has two sections:

  1. the Defined Benefits Scheme

  2. the Pension Builder Scheme, which has two subsections;

a. a deferred annuity section known as Pension Builder Classic, and, b. a cash balance section known as Pension Builder 2014.

Pension Builder Scheme

Both sections of the Pension Builder Scheme are classed as defined benefit schemes.

Pension Builder Classic provides a pension, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending on investment returns and other factors.

Pension Builder 2014 is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65.

There is no sub-division of assets between employers in each section of the Pension Builder Scheme.

The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are the contributions payable (2022: £15,524, 2021: £13,409).

A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2019. The next valuation is due as at 31 December 2022.

For the Pension Builder Classic section, the valuation revealed a deficit of £4.8m on the ongoing assumptions used. At the most recent annual review, the Board chose to grant a discretionary bonus of 10.1% following improvements in the funding position over 2022. There is no requirement for deficit payments at the current time.

For the Pension Builder 2014 section, the valuation revealed a surplus of £5.5m on the ongoing assumptions used. There is no requirement for deficit payments

St Nic’s Nottingham, Financial & Trustee Report for the year 2022

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at the current time.

The legal structure of the scheme is such that if another employer fails, St Nicholas (Nottingham) could become responsible for paying a share of the failed employer’s pension liabilities.

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St Nic’s Nottingham, Financial & Trustee Report for the year 2022

  1. 2022 ACCOUNTS IN SUMMARY 20 20IPage St Nic's Nottingham, Financial & Trustee Report for the year 2022

2022 Accounts in Summary

Using the above format (which we have to!) the accounts can be difficult to understand so here is a simple summary of the income and expenditure on the general fund

Income
Donations
Tax reclaimed
Other
Total
Expenditure
Mission grants/Evangelism
Parish share
Stafng
Building related
Administration
Ministry
Total
Surplus before depreciation
Depreciation
Surplus after depreciation
Fixed asset costs incurred
Transfers to designated/restricted funds
Cash in the bank
Which is made up of:
Designated funds
Restricted funds
General funds
Ruth Radley working with CMS in Birmingham Children's Hospital
Fusion & Student CUs
Other
Dave and Nikki working in North Africa
Pastor Adama in Markoye, Burkino Faso
Support for Ian & Heather Morris
Support for James Berry with OM
Support for Sam Mellish
Open Doors
Other
Safe families for children
Open Homes Nottingham
Nottingham Citizens
Social Concern
Refugee Forum
Emmanuel House
St Stephen's Sneinton
Grants made for UK mission
Grants made for World mission
Grants made for Evangelism & Social Care		 2022
2021
284,754
307,488
58,842
62,815
15,525
8,379
359,121
378,682
30,669
23,988
117,840
117,840
152,713
142,184
33,264
28,404
9,533
8,631
12,340
7,729
356,359
328,776
2,762
49,906
59,530
59,629
(56,768)
(9,723)
6,483
1,254
-
(27,500)
1,088,704
781,424
54,515
286,458
906,838
370,344
127,351
124,622
917
1,000
1,105
1,100
477
541
2,499
2,641
11,000
11,000
2,000
1,527
83
1,000
-
750
3,000
500
500
400
506
-
17,089
15,177
-
500
600
600
2,545
2,420
150
150
500
500
2,000
2,000
5,286
-
11,081
6,170
30,669
23,988

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St Nic’s Nottingham, Financial & Trustee Report for the year 2022

PCC Report

There were 5 PCC meetings during 2022 and a PCC Away Day. Major decisions made, issues discussed, and reports received during the year in chronological order were as follows:

Statement of responsibilities of the PCC

Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the charity and of the surplus of deficit of the charity for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity

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St Nic’s Nottingham, Financial & Trustee Report for the year 2022

and which enable them to ensure that the financial statements comply with the Charities Act 2011. The Trustees 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:

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s websites. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may digger from legislation in other jurisdictions.

Objectives and activities

The PCC has the responsibility of cooperating with St Nic’s Rector, Steve Silvester, in promoting the whole mission of the Church, pastoral, evangelistic, social and ecumenical. We seek to do this through making disciples who can live effectively for Jesus in contemporary society. We do this by:

We have referred to the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our activities. Summary of the main activities undertaken for the public benefit:

Safeguarding Report to APCM April 2023 on behalf of the PCC.

This year we have continued to promote a safer church for all within the church community, and ensured there are plans in place to raise awareness, promote training and ensure that safeguarding is taken seriously by everyone.

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St Nic’s Nottingham, Financial & Trustee Report for the year 2022

We have ensured that all Church Officers (paid or voluntary – this description as used by the C of E covers everybody who does anything on behalf of the church) who work with children, young people and/or vulnerable adults are recruited following the House of Bishops’ Safer Recruitment practice guidance; are aware of and work to House of Bishops’ safeguarding guidance (includes both policies and practice guidance) and they have attended Diocesan Safeguarding training as required.

We have also ensured that the church has provided appropriate insurance to cover for all activities undertaken in the name of the PCC which involve children, young people and vulnerable adults.

There have been no safeguarding concerns or allegations made by any child or young person against any Church Officer during this year. Matters between adults where neither are classified as being vulnerable according to DBS regulations have been able to be dealt with as Pastoral Concerns. We give thanks to the Lord for this.

In all matters, the PCC has complied with its duty to have ‘due regard’ to the House of Bishops’ “Safeguarding Policy and Practice Guidance”.

Karen Pheasant, St Nic’s PSO April 2022

’ – Churchwardens report for January December 2022

We are thankful for the ways in which God has continued to bless the St Nic’s church family and the ministries based in our buildings. It is encouraging to see signs of his faithfulness and goodness at every turn.

We’d also like to thank Steve for his support and guidance to us as churchwardens and to the wider church over the last year. His wisdom, prayer and care of us is immense and we are truly thankful.

2022 has seen much change in our membership. We are encouraged by the expressions of multicultural worship found across our four congregations, youth and children’s work and we look forward to even closer and deeper collaboration in the coming year. We give thanks for our staff team and interns who have contributed so much in highlighting where God is at work and helping us to amplify this. Thank you to all who have responded to God’s call to take on new roles within services, not forgetting the important contribution of welcome and hospitality teams! We would also like to thank the wider warden team for their immense work in the background to ensure the church is safe and ready for worship each week.

Thank you also to the many individuals supporting mid-week activities including the language school, children’s and youth work, communities, refugee support and all our other outreach opportunities. We are grateful for your time and dedication, and for the ways in which others are blessed through you.

At Tasha’s ordination service one of the chalices (part of a set of four) the cup decided to depart its stem, right in front of the Bishop! He saw the funny side. Fortunately, it had just been emptied of its wine as it felt wobbly. This has now

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St Nic’s Nottingham, Financial & Trustee Report for the year 2022

been repaired. There is also another chalice that some of the silver is wearing so will also need to be looked at. The rest of the terrier and inventory are in good order.

Every five years, the church building is inspected by external experts to ensure its maintenance is up to date and that we are stewarding its heritage well. This ‘quinquennial’ inspection took place in November 2022 and was overseen by Dave Hepworth. The inspection identified a number of areas needing some work in the coming year, including repair of the tower (brickwork, coping stones and roof). The PCC will continue to discuss the impact of this report and ensure the work can be completed in as timely and as safe ways as possible.

We finish with the verse we started our report with last year – a reminder of God’s faithfulness and care to all of us over this time: ‘Praise the Lord. Give thanks to the Lord, for He is good, and His love endures forever’ (Psalm 106.1).

Juliet Wright and Alison Fletcher (Church Wardens)

Nottingham South Deanery 2022 Annual Report

This year we have said goodbye to Rev’d Paul Reynolds (Bramcote St Michael and All Angels) and Rev’d Colin Bourne who stepped down as Area Dean. We have welcomed Rev’d Jess Savill (Toton St Peter) and curates Rev’d Claire Tufnell and Rev’d Ryan Mellor (Christ Church, Chilwell) Rev’d Angelika and Daniele Bocchetti (Lenton Holy Trinity and The Priory), Rev’d Tasha Genk (St Nic’s) and Rev’d Bethan Resch (Trinity) to our Deanery. We were also pleased to congratulate Rev’d Jo Tatum who was appointed as Area Dean, Rev’d Tracey Byrne and Garreth Frank who were appointed as Priests-in-Charge at St John’s Carrington and Lenton Holy Trinity and The Priory respectively, and Grant Walton who was appointed Co-ordinating Chaplain at the University of Nottingham.

The Deanery Leadership Team has continued to meet during the year to plan Synod and to discuss ways to support parishes in the Deanery – particularly those in vacancy. We have held three Synods:

On 23 March we met at St Nic’s in Nottingham and the theme of our meeting was “Is there a place for me in your church?”. The aim of this meeting was to recognise that racial justice and integration are vital issues for the church and to challenge churches to address this issue. Speakers shared their lived experience and the scriptural basis for addressing this. We then spent some time discussing the challenge and praying for each other.

On 13 July we met at St Barnabas, Lenton Abbey and our theme was mental health and wellbeing. Again we had speakers share their lived experience on the impact of the pandemic and the role churches can play in supporting those with mental health issues. We also heard about the work of Renew Wellbeing and running wellbeing cafés in our buildings.

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St Nic’s Nottingham, Financial & Trustee Report for the year 2022

On 24 November we met at St Michael’s, Bramcote and our theme was Disability Awareness in our churches. Our speakers shared their lived experiences and we were challenged to consider ways we could make our churches accessible. We were also challenged to think how our churches could act as a link for disabled people and our communities.

Our November meeting was also our AGM and a report was provided on the work of the Deanery Leadership Team during the past year. Colin Bourne stepped down as Area Dean, Gary Stephenson stepped down as Deanery Treasurer and Clive Burrows also stepped down from the Deanery Leadership Team. We thanked them for all they had done in these roles and also welcomed Jo Tatum as Area Dean.

Following the AGM the Deanery Leadership Team was made up of:

The Deanery paid managed to exceed the percentage of giving for ministry paid in 2021 (96% as opposed to 94.9%). Every parish is thanked for their generosity in these difficult times.

Elaine Hinchliffe (Lay Chair)

Rector’s Report

This has been a remarkable year. To me it has seemed like a ‘coming of age’ for us as a church, and a year in which we have experienced God’s goodness and faithfulness in new ways. It is the year in which ‘being intercultural’ ceased to be an aspiration and became an accurate description of who we are. It is the year in which we took steps of obedience and faith which felt very scary at the time, but which have led to an overflow of fruitfulness. It is the year in which we have discovered together some Kingdom principles that, previously, we may have only known in our personal lives.

On 10[th] April 2022, Palm Sunday, we tearfully released, along with their children, over 40 adults, many of whom played key roles in the life of St Nic’s, to join former curates, Garreth Frank at Holy Trinity Lenton and John and Lynda Blakeley at St Stephen’s Sneinton. Although it seemed like a bereavement at the time, God gave us grace to see these church grafts as investments in his Kingdom so that we had a stake in their success. It has been a joy to hear news of how these two churches have progressed over the year.

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St Nic’s Nottingham, Financial & Trustee Report for the year 2022

On 26[th] April we launched Amor Y Esperanza, our Hispanic congregation, and Bishop Andy commissioned Yancy Holden as Co-Pastor. We are grateful to the diocese for providing the initial funding for this post. Since then, Amor Y Esperanza has become a vibrant community with its own small group structure, leadership, children’s ministry, and music team ably led by Franklyn Ogosi. A sizeable proportion of the congregation also join in the 10.45 Sunday service with simultaneous translation and play an active leadership role in the church as a whole.

As so many of our musicians, worship leaders and preachers went with the church grafts, initially it was a struggle to staff all our services. However, we have been tremendously blessed to have Rachel Bussell come alongside us. She has not only supported us musically, rebuilding the team, but has invested very deeply in worship leaders’ spiritual formation. This has significantly enriched our corporate worship, and we have learned to worship with greater faith and expectation of the tangible presence of God.

Another significant area of growth has been among our youth. Esther Townsend, having spent a year with us on the internship programme, was appointed Youth Team Leader. Again, this post has been funded by the diocese through a Strategic Development Fund grant. Our youth numbers, particularly on Thursday evenings, have steadily grown. Esther has developed excellent links with Bluecoat 6[th] Form on the other side of Maid Marian Way.

Over the year, we have intentionally moved away from established ‘siloes’ of ministry into a more integrated approach. Youth work is a good example of this: young people from the Hispanic and Hong Kong communities have been welcomed in, and younger youth have been able to see older youth as role models, especially as they have served on team with Power Lab, our Easter holiday club.

Similarly, our children’s and families’ ministry, under the ever-enthusiastic leadership of Rich, has benefitted from working closely with our ministry to asylum seekers and refugees. Some of the summer trips to Planet Bounce and White Post Farm were particularly memorable. These would not have been possible under the auspices of our children’s ministry alone. Likewise, we have made a concerted effort to integrate ministry to oversees students with our regular student ministry, and to integrate students into our regular missional communities.

All this has only been possible because of the excellent ethos we have in the staff team, where there is great mutual support and collaboration. The team has been very blessed by our 4 excellent interns, Jacob, Steffi, Grace and Emily. We hope that some of them may choose to stay on, participating in the diocese’s new Year 2 intern programme. Our interns have been supervised by Emily Huggard, and it has been great to see our student ministry – so impacted by the pandemic – become re-established under her leadership.

During the past year, as a result of online leadership training ( Missional Community Incubator ) three new Missional Communities have been launched – Beeston, Southbank and North Nottingham. Two others closed: almost all the members of Peter’s Boat went with the Lenton church graft, as did some of Beacon. Most of the remaining members of Beacon have joined North Nottingham. MCs continue to be the primary vehicle for welcome, pastoral care,

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St Nic’s Nottingham, Financial & Trustee Report for the year 2022

discipleship, and mission. We are indebted to the faithful service of those who lead these communities.

Faith Lounge is a new initiative, piloted by our ordinand, Marsha Farmer. It is a weekly drop-in for any who want to informally explore issues of faith. This means that anyone can begin the journey of faith exploration at any time, rather than having to wait for the next Alpha Course.

We have continued to be enriched through forming relationships with people from overseas. English at St Nic’s, our language school, now has over 70 students learning at 4 distinct levels every Monday afternoon. Mick and Jo Rainbow lead an excellent team of volunteers. Alex Granados has done an excellent job in covering Ellie’s maternity leave, and his profound understanding of the immigration system has made him an invaluable help to many. We rejoice with those who are successful in being granted asylum, and then we weep with them as they are jettisoned into a sea of uncertainty regarding accommodation and employment. Our 3 Hope Into Action houses are a small contribution to this immense need.

In November we welcomed Tasha onto staff as curate, and Adam and John into the church. Her appointment, and ordination at St Nic’s, came about quite quickly. She has done really well to integrate and adapt to our culture in such a brief time. We look forward to her priesting on 1[st] July (and the ordination of Daniel Tsoi as deacon on 2[nd] July). Sadly, we will have to say goodbye to Fran this summer. Her extraordinary gifting in communication, and her wonderful personality, have been such a blessing to us.

We ended the year with that unforgettable outpouring of generosity and faith in our gift day for our building project. Having asked for 250,000, over 500,000 was given. This means that we will not have to draw down much, if any, of the diocesan loan facility that we have been offered, and that we will definitely begin building this year. We are so indebted to the project team, ably led by Jonathan Etheridge, for getting us to this point.

The significance of this should not be lost. This kind of generosity is possible only when a community is confident that God is truly at work among us. We made our gifts on the 12th of March, at which time we did not have planning permission. The following day we were granted planning permission in draft and, the day after, in full. This is how faith works: Abraham, Moses, and even Jesus himself, set out on the path God called them on before they had the visible evidence that God would fulfil his word.

This is why I see this past year as a kind of coming of age. Now we need to put that new faith muscle to work! This January I celebrated 15 years of ministry at St Nic’s. It is a wonderful privilege to serve this church and this city, and I genuinely feel that this is the most exciting period of time that I have known here. Let us ‘press on to take hold of that for which Christ Jesus took hold of us.’ (Philippians 3.2)

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St Nic’s Nottingham, Financial & Trustee Report for the year 2022