2022-12-31-accounts - The Parochial Church Council Of The Ecclesiastical Parish Of St Leonard's Wollaton

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PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Charity Number 1134834

PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The trustees present their report and financial statements for the year ended 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity’s trust deed, the Charities Act 2011 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 .

OUR OBJECTIVES AND ACTIVITIES

The objects of the Parochial Church Council are: -

To provide a place of worship where Christians can meet to share their faith, increase knowledge, and broaden their commitment.
To be effective in the local community by providing services and facilities as appropriate.

Our Missional Vocation:

Living for Jesus

Our Vision:

Our vision is: To be a joyful and vibrant church empowered by the Holy Spirit, committed to sharing God’s love with the wider community, welcoming partnership with others, so that all may be drawn into the abundant life of Christ.

The main activity is the holding of Christian religious service and related activities each week for the benefit of Wollaton and the surrounding area. The Parochial Church Council is dependent on offerings received from its congregation and donations made. Many of the weekly activities are run by volunteers who are members of the church and without their commitment given as volunteers the church would not function effectively.

The PCC formally reviews and agrees priorities; our planned priorities from 2011 were agreed as:

Building the next generation of church
Building relationships with people who find themselves in marginal and vulnerable situations
Building authentic community

PUBLIC BENEFIT

As stated above the objects of the Parochial Church Council are to promote worship and related activities for the benefit of the local community. The Trustees confirm that they have complied with their duties under section 17 of the 2011 Charities Act regarding Public Benefit.

ACHIEVEMENTS AND PERFORMANCE

Church attendance

The year 2022 opened with 296 names on the Electoral Roll (304 in 2021). The Electoral Roll is revised annually for the APCM and was 292 at the May 2022 APCM (209 resident and 83 non-resident). At 31/12/22 the ER was 295.

PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Occasional offices

In 2022 8 baptisms were performed. There were 4 marriages. A total of 23 funerals were performed by the clergy of which 12 took place in church. No candidates were prepared for confirmation and 4 children were admitted to Communion.

Hon. Secretary’s Review of 2022

The Parochial Church Council met six times in 2022 as did the Standing Committee and Resources Team. Key decisions made during the year included the following:-

• The Safeguarding Proposal document, begun last year, was submitted by Mike Smith and formally adopted by the Council.

• The Treasurer indicated his wish to stand down during the coming year. A new Treasurer is shadowing Ian and learning in preparation for taking over the role.

• Two new members joined the PCC but the problem of reduced numbers remains. The Council agreed that a proposal will be put forward to reduce the number of members from 12 to 9. It was noted that the PCC has no Hon. Secretary and no representative on the SCART team.

• A Families’ and Children’s Minister was finally appointed, funded partially by the Strategic Development Funding Scheme supporting the ‘Growing Younger & More Diverse’ initiative. We are pleased to report that she is having a massive impact in the Church Family and in the wider Community.

• A new pay framework for employees of the PCC was agreed and implemented backdated to 1[st] January 2022. This framework sets salaries and future increases relative to job specifications and the national real living wage.

• The Council approved the recommendations of the Contact Home and Away Group and a total sum of £7,500 was agreed for annual giving across 11 groups.

• Christmas services were reinstated Round The Pump and in Church as before Covid.

• A Heating Sustainability Survey was approved by the Council to be carried out by a specialist firm recommended by the church architect.

• The PCC formally received and noted the Church of England’s Recruitment of ex-offenders policy.

• A new sound system was installed in the Community Centre and new chairs have replaced the old red ones in the small hall.

• The PCC proposed that, as a matter of policy, the practice will be that we will not serve alcohol at Church events. This was approved.

• Th PCC proposed and agreed that services that currently take place in Church on a Thursday and on the 1[st] , 4[th] and 5[th] Sundays of the month will take place in the Community Centre. The two Sunday afternoon services and the 2[nd] Sunday service will remain in Church. This will be reviewed at the PCC meeting in March.

• The Risk Assessment for use of St. Leonard’s Church Buildings was reviewed and updated.

On behalf of the Council I would like to thank Gillian Moore for her ongoing work as our Minutes Secretary. We couldn’t cope without her!

Val Sutton Churchwarden April 2023

PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

FINANCIAL REVIEW

Treasurer’s Report for the year 2022

Ongoing effects of Covid-19 Pandemic

The aftermath of the pandemic continues to have an influence on the financial position of all churches. The most obvious direct effect has been a small reduction in our income compared with maximum pre-pandemic levels, although the reduction is less than has been seen by many charities. Encouragingly, income to the community centre recovered in 2022 to pre-pandemic levels. As described in last year’s report, the Diocese provided a one- off £20,000 discount on our parish share for 2021, to offset the reduced income seen by the community Centre in 2020, and this means that the reported overall financial position for 2021 was stronger than would otherwise have been the case: however, there was no reduction in parish share for 2022.

Investment income

The after- effects of the pandemic, the war in Ukraine, and continued uncertainty after Brexit made this a difficult year for the markets, and we saw a significant fall in the value of our investments by around £18,000. One would expect this to be reversed in the medium term, but the within year fall has obviously affected the overall financial position at year end.

Budget against 2022 forecast

In 2021 we paid the set parish share in full but this included a £20,000 one- off reduction as mentioned above. The total paid in 2021 was therefore £95,940. In 2022 we again paid the parish share in full, the amount though now being £116,196.

In 2022 regular giving remained relatively stable with only a slight reduction (~£1800) compared with the fall of around £15,000 seen in 2020/1.

Total income (excluding investments) for 2022 was significantly higher than in 2021 at £231,524 (£193,925 in 2021), due to the recovery in the Community Centre income position, some legacy income and a substantial donation made within year. As discussed above, the total value of our investments fell in 2022 by just over £18,000, which has a marked effect on our overall position as we had a substantial increase in value in investments in 2021 of around £20,000 (ie an overall difference of >£38,000 between years).

Total expenditure during 2022 rose compared with 2021 to £233,404 (£210,973 in 2021), the vast majority of the increase being explained by the return of the parish share to the undiscounted rate.

During 2022 we appointed a Family and Children’s development worker which will obviously increase our future salary bill.

Otherwise, expenditure in general was in line with the budget.

Overall financial position for 2022

The 2022 accounts continue to be influenced by the particularly large legacy of £237,959 which came in during 2016 and 2017. The PCC has previously designated £100,000 from this for use over the next few years to support mission, which is in addition to the support already provided to the audio-visual upgrade undertaken in 2018 and 2019. The significant amount of this funding currently remaining in our reserves continues to distort the overall picture. The recent appointment of the Family and Children’s development worker will in time utilise part of this funding, although we have also benefited from a specific donation to help support this post.

End of year position

The net effect of all the factors discussed above was that there was a reduction in overall funds to £909,182 at the end of 2022 compared with £929,448 at the end of 2021.

Charity commission registration

The PCC has maintained registration with the Charity Commission (Charity Number 1134834).

PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Budget 2023

The budget we have set for 2023 shows a continuing significant shortfall, which will have to be supported from reserves unless we receive unpredictable income, but the alternative of cutting activities would probably only further worsen the income position in the longer term. The budget for 2023 is based on the 2022 budget. We have continued to take a cautious view in estimating income, and we will need to monitor expenditure carefully during the year.

Any potential additional expenditure from the designated funding for mission described above is not shown in the operating budget.

Risks for 2023

Whilst the prospect of further Covid-19 restrictions has receded, the war in Ukraine is likely to continue to bring volatility to stock markets. Church services and other activities have gradually increased, and we expect activity in the Community Centre to remain strong during the rest of the year, but income from fund raising events remains low.

Otherwise, the main risks for 2023 as in previous years are increased expenditure on unplanned maintenance and further reduction in planned giving income. Ongoing lead thefts always remain a risk although we continue to mitigate this through a managed security system.

Final Comments

This will be my final Treasurer’s report and I wish my successor Lisa well in her new role: I am very grateful for her taking over the reigns. As ever, I would like to thank everyone who has helped with the finances over the past year and indeed the many other years in which I have been involved with the church finances. I have continued to receive fantastic support from the clergy and everyone else involved in the financial running of the church and Community Centre. In particular, Roger Alton has worked closely with the Community Centre team to manage the Centre’s finances. David Martin has now handed over his role as planned giving secretary, which has been taken on by Liz Norris as part of her work as finance administrator. I would like to express huge thanks to David for all his support over the years. The parish office and Community Centre staff have continued to be very supportive. I would also like to thank Tim Pullen and the Deanery for all their support. I would particularly like to thank Liz Norris for all her hard work in ensuring things run efficiently. Finally, I would like to add a heartfelt thanks to all in St Leonard’s with whom I have interacted over the years. I have always received the strongest support from all involved with St Leonard’s which has made the job of being Treasurer so much easier than it otherwise would have been.

Professor Ian Hall Honorary Treasurer March 30[th] 2023

Reserves Policy

The policy of the Parochial Church Council is to hold a sufficient sum in reserves to cover 6 months’ normal expenditure. Based upon current turnover this is a sum of around £100,000. Unrestricted Funds currently held total £244,537 with £141,677 of endowment funds.

Reserves and Assets 2022

The fund details for 2022 are summarised in note 9 of the accounts. These show the major (fixed) asset held by St Leonard’s to be the Community Centre. The Community Centre accounts have been incorporated into these summary accounts.

Investment Policy of the Parochial Church Council

Aside from retaining a prudent amount in reserves each year, most of the Parochial Church Council’s funds are to be spent in the short term, so there are fewer funds for long term investment. Having considered the options available, the trustees have invested excess not required in the short term on deposit with the Central Board of Finance.

PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Grant Making Policy

At the discretion of the board of Trustees, they may from time to time make donations to other Charities which have the same objectives as the Parochial Church Council.

Plans for Future Periods

The PCC will continue to match commitments to the mission and ministry activities with income generation into the future.

A focus on "growing disciples" as the top priority for the church's mission in the next phase of its life is intended to see the membership of the church grow which would also have the effect of increasing the numbers of those giving financially to St Leonard's.

St Leonard's regularly reviews the giving of parishioners and encourages donors to consider increasing their giving annually. We also arrange a major "Promise Programme" at least once every five years to help increase the base of those who give regularly to the church. As we move forward, the PCC will also encourage people to consider making provision for mission of St Leonard's in their wills. Generous legacies have made a positive contribution to the church finances in previous years.

Going forward the PCC also remains committed to a continual process of identifying ways of achieving cost reductions in administration overheads and improving the efficient use of resources.

There are no current plans for new major building projects although some continuing rearrangement of the interior of the church will take place over the next couple of years and we will continue with our regular work programme to maintain the building.

SAFEGUARDING

The Safeguarding Policy was amended 2020 and prompted a review of training records and requirements for both safeguarding training and DBS checks in 2022. This work has progressed during the year.

WEBSITE: www.stleonardswollaton.org.uk CHARITY NUMBER: 1134834 PRINCIPAL OFFICE: St Leonard’s Church Wollaton Road Wollaton Nottingham NG8 2AF BANKERS: Royal Bank of Scotland 8, South Parade Nottingham NG1 2JS INDEPENDENT EXAMINERS: Haines Watts Chartered Accountants Cliffe Hill House 22-26 Nottingham Road Stapleford Nottingham NG9 8AA

PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Trustees:

During the year, the following served as members of the Parochial Church Council:

*Incumbent*	The Revd Canon Tim Pullen (Chairman)	The Revd Canon Tim Pullen (Chairman)
*Assistant Curate*	vacancy
*Churchwardens*	Dr Mike Smith
	Mrs Valerie Sutton
*Elected member of Diocesan Synod*	Mr Roger Howes
*Elected members of*
*Nottingham North Deanery Synod*	Prof Charlotte Bolton	(to APCM in May 2022)
	Mrs Kate Breckles
	Mrs Emma Twissell
	Mr John Withers
	Dr Erica Bailey
*Elected members*	Mrs Catherine Fry (died May 2022
	Professor Ian Hall (Hon Treasurer of PCC)
	Mr Andrew Holbrook, Honorary Secretary of PCC (to APCM
	in May 2022)
	Mrs Hilary Howes (to	APCM in May 2022)
	Mrs Lindy Jones
	Mrs Maria Phillips (to	APCM in May 2022)
	Miss Sally Smith
	Mr Kevin Twissell
	Mrs Noreen Thomas (from APCM in May 2022)
	Mrs Carol Barber (from APCM in May 2022)
	Mrs Elaine Thompson	(co-opted as Reader’s Representative)
Patron	The Rt. Hon the Lord Middleton
Readers	Mrs Hilary Howes
	Dr Elaine Thompson
Recognised Lay Ministers	Mrs Pat Broxham
	Mrs Maryrose McHugh
	Mrs Anne Scothern
	Mrs Anne Walters
Appointments by PCC
Lay Vice-Chair	Mrs Valerie Sutton
Administrative Assistant to the PCC	Mrs Gill Moore
Assistant Churchwardens	Mr Peter Bailey	Mrs Mary Stacey
	Mrs Viv Chamberlain Mrs Anne Walters
	Mrs Ali Hatton	Mrs Jo Young
	Mr Roger Howes	Mr Malcolm Stacey
	Mrs Barbara Lynes

PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Additional Member of Standing Committee

Mr Andrew Holbrook (to APCM in May 2022) Mrs Maria Phillips (to APCM in May 2022)

Bank Signatories

The Revd Canon Tim Pullen Professor Ian Hall Mrs Elizabeth Norris Dr Mike Smith Mrs Valerie Sutton

Choirmaster and Organist

Mr Peter Price

Electoral Roll Officer Parish Safeguarding Co-ordinator Planned Giving Secretary Parish Database Maintenance

Dr Erica Bailey Dr Rachel Higginson Mrs Elizabeth Norris

Mr Graham Birkett

Chair of St. Leonard’s Community Centre Mr David Thompson Wollaton (SLCCW)

Representatives nominated by the PCC to the Management Committee of SLCCW

The Revd Canon Tim Pullen Mrs Carol Barber (from November 2022)

Website Administrators

Dr Charlotte Bolton The Revd Canon Tim Pullen

Teams

Discipleship Worship Mission

Mr Peter Bailey, Mrs Hilary Howes Miss Sally Smith, Mrs Elaine Thompson Vacant

Lay People with permission from Bishop to administer Communion:

Mrs Pat Broxham Mrs Judith Robinson Mrs Carol Charmbury Mrs Anne Scothern Mrs Janet Fisher Mr Colin Shock Mr Roger Howes Miss Sally Smith Mr Malcolm Stacey Mrs Jan Stacey Mrs Barbara Lynes Mrs Mary Stacey Mrs Maryrose McHugh Mr Richard Burnett Mrs Pam Martin Mrs Elaine Thompson Mr Gordon Fletcher Mrs Hilary Vaughan Mrs Pam Orme Mrs Anne Walters Mr Peter Price Mrs Kate Breckles Mrs Jo Pullen Mr John Withers Mr Peter Bailey Mr Walt Budgen Mr Graham Birkett Mrs Karen Dinsmore Mr Ralph Buckingham Mr Ian Hall Mrs Alison Hatton Mr Robert Norris Mrs Hilary Howes Mrs Sonal Marner Mrs Wendy Sutton-Pryce Mr David Robinson Mrs Janet Fisher Mr Mike Radford

PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Parochial Church Council is a statutory body and is governed by the regulations as set out in the official Church of England Church Representation Rules 2020, which cover all aspects in detail.

This is supplemented by the Handbook for churchwardens and parochial church Councillors (revised edition 2020).

Recruitment and Appointment of Trustees

Parochial Church Council members are recruited by election following nomination by any two members of the electoral roll.

Prospective candidates receive a detailed booklet produced in-house entitled Is the Parochial Church Council for me? and attend an initial meeting of the Parochial Church Council for clarification of their role and responsibilities within the Church structure.

Parochial Church Council members are elected at the Annual Parochial Church Meeting each year.

Key Management Personnel

The PCC consider the board of Trustees and the Rector as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day-today basis. All the PCC give of their time freely and no member of the PCC received any remuneration in the year. Details of trustee expenses are disclosed in note eleven to the accounts.

The Diocese of Southwell & Nottingham pay the Rector.

Related Parties – Associated Churches

St. Leonards Parochial Church is part of the wider “Church of England” and reports directly to the Diocese of Southwell and Nottingham, paying its annual Parish Share to the diocese which, in 2022, totalled £116,196 (2021: £95,940).

Organisational Structure

The church is administered by the Parochial Church Council members and the day-to-day running of the Parochial Church Council is delegated by the trustees to the Rector (as paid chair of the Parochial Church Council) and Churchwardens, in conjunction with the Parish Administrator. Agenda items for the Parochial Church Council are agreed by Standing Committee which is chaired by the Rector. The Parochial Church Council meet on a regular basis and a record of all the meetings is kept.

Risk Management

The trustees have examined the major strategic, financial, and operational risks which the Parochial Church Council faces and confirm that systems have been established to enable regular reports to the Parochial Church Council meetings to be produced so that the necessary steps can be taken to lessen these risks.

PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provision of the Trust Deed require the Trustees to prepare financial statements for each financial year which give a true and fair view of the situation of the Charity and of the incoming resources and application of resources, including the income and expenditure of the Charity for the financial year. In preparing those financial statements, the Trustees are required to:

Select suitable accounting policies and apply them consistently.
Observe the methods and principles in the appropriate charities SORP.
Make judgements and estimates that are reasonable and prudent.
State whether applicable accounting standard have been followed, subject to any material departures that must be 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 operation; and

The Trustees are responsible for maintaining the proper accounting records, which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. 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.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.

This report has been prepared in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities.

………………………………………………. On behalf of the Trustees The Revd Canon Tim Pullen Chairman and Trustee

Dated:

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

I report to the trustees on my examination of the accounts of the Parochial Church Council of St. Leonard, Wollaton (the Trust) for the year ended 31 December 2022.

Responsibilities and Basis of Report

As the charity trustees of the Trust, you are responsible for the preparation of the 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.

Independent Examiner’s Statement

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

accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

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.

……………………………………………….. Diane Lockwood, FCCA ACA ATT (fellow) Independent Examiner Haines Watts Chartered Accountants Cliffe Hill House 22-26 Nottingham Road Stapleford Nottingham NG9 8AA

Dated:

PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

					Total	Total
		Unrestricted	Restricted	Endowment	Funds	Funds
		Funds	Funds	Funds	2022	2021
	Note	£	£	£	£	£
INCOMING RESOURCES
Donations and Legacies	2(a)	139,075	35,816	-	174,891	152,223
Income from other Events & Activities	2(b)	51,621	-	-	51,621	37,674
Investment Income	2(c)	914	-	4,098	5,012	4,028
TOTAL INCOMING RESOURCES		191,610	35,816	4,098	231,524	193,925
EXPENDITURE
Costs of raising funds:		-	-	-	-	-
Expenditure on Charitable Activities	3(a) –3(e)	209,717	23,687	-	233,404	210,973
TOTAL EXPENDITURE		209,717	23,687	-	233,404	210,973
Net gains (losses)
on investments assets – unrealised	6	-	-	(18,386)	(18,386)	19,559
NET INCOME/EXPENDITURE		(18,107)	12,129	(14,288)	(20,266)	2,511
Transfer between funds		4,098	-	(4,098)	-	-
Net Movement in Funds		(14,009)	12,129	(18,386)	(20,266)	2,511
RECONCILIATION OF FUNDS
Total funds brought forward		258,546	510,839	160,063	929,448	926,937
TOTAL FUNDS CARRIED FORWARD	9	244,537	522,968	141,677	909,182	929,448

PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

BALANCE SHEET AS AT 31 DECEMBER 2022

FIXED ASSETS Total Fixed Assets CURRENT ASSETS Total Current Assets CREDITORS: Amounts falling due within one year NET CURRENT ASSETS NET ASSETS REPRESENTED BY FUNDS TOTAL CHARITY FUNDS	Tangible Fixed Assets Central Board of Finance - Investments Sundry Debtors Central Board of Finance – Deposits Cash at bank and in hand Sundry Creditors Unrestricted Funds General Purposes Designated Funds Total Unrestricted funds Restricted funds Endowment funds	Note 7 8 9 134,537 100,000 10	2022 £ 482,780 137,802 620,582 19,798 65,227 208,792 293,817 5,217 5,217 288,600 909,182 244,537 522,968 141,677 909,182	2021 £ 490,243 156,188
				646,431
				8,061 64,791 216,401
				289,253
				6,236
				6,236
				283,017
				929,448
				258,546 510,839 160,063
				929,448

Approved by the Parochial Church Council on .................................................................. and signed on its behalf by:

………………………………………………… The Reverend Canon Tim Pullen – Chairman

………………………………………………… Professor Ian Hall

Dated:

The notes on pages 13 to 24 form part of these financial statements.

PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. ACCOUNTING POLICIES

Basis of Accounting

The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and Charities Act 2011. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

The charity constitutes a public benefit entity as defined by FRS102.

The Trustees’ consider that there are no material uncertainties about the charity’s ability to continue as a going concern.

The financial statements are presented in sterling (£).

Funds

Endowment funds are generally funds which the PCC must retain for the benefit of the Church and spend on capital purposes and authority for expenditure must be obtained from the Southwell diocese.

Unrestricted funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. These include funds designated for a particular purpose by the PCC.

The purpose of any restricted funds is noted in the accounts.

The accounts only include transactions, assets and liabilities for which the PCC can be held responsible.

Incoming Resources

Voluntary income and capital sources

Collections and regular giving are recognised when received by or on behalf of the PCC.

Income tax recoverable on covenanted or gift aid donations is recognised when claimable.

Grants to the PCC are accounted for when received as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain.

Funds raised by social and similar events are accounted for gross.

Other ordinary income

Rental income from the letting of church premises is accounted for when the hiring takes place.

Parochial fees due to the PCC for weddings, funerals etc are accounted for on an event by event basis, and are net of amounts due to the Southwell and Nottingham Diocese.

For legacies, entitlement is taken as the earlier of:

the date on which the charity is aware that probate has been granted;
the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made; or
when a distribution is received from the estate.

PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 - CONTINUED

Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Donated services and facilities are recognised as income when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the Charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt, where this can be quantified.

Income from investments

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Realised gains and losses

Realised gains or losses are recognised when investments are sold and are calculated as the difference between sales proceeds and the previous year end market value.

Unrealised gains or losses are accounted for on revaluation of investments at their year end market values.

Resources Expended

Expenditure is recognised on an accruals basis as a liability is incurred and includes vat where appropriate, which cannot be recovered.

Giving

Grants and donations are accounted for when paid.

Costs directly related to the work of the church

The Diocesan Parish Share is accounted for when payable and any amount unpaid at the year end is shown as a creditor in the Balance Sheet.

Debtors

Debtors are recognised at the settlement amount owed to the Charity or prepaid.

Creditors

Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party, and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount.

Financial Instruments

The Charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 - CONTINUED

Judgement and Key Sources of Estimation Uncertainty

The preparation of accounts using generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the accounts and the reported amounts of revenues and expenses during the reporting period.

The key estimates and assumptions used in the Financial Statements are detailed in the accounting policies.

Irrecoverable VAT

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

Allocation of overhead and support costs

Overhead and support costs have been allocated as a direct cost between Charitable Activities and Governance Costs. Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include office costs, payroll and governance costs which support the church activities.

Governance costs

Governance costs comprise all costs incurred in the governance of the PCC. These include costs related to the statutory audit together with a direct apportionment of overhead and support costs.

Fixed Assets

Consecrated land and buildings and moveable church furnishings

Consecrated and beneficed property is excluded from the accounts by section 10(2)(a) of the Charities Act 2011.

No value is placed on moveable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be an inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and moveable church furnishings, whether maintenance or improvement is written off as incurred.

Other land and buildings

Other land and buildings held on behalf of the PCC for its own purposes is shown at cost.

Building costs are depreciated at 2% per annum for each full year on cost.

Equipment and other fixtures and fittings

Equipment used for church purposes 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 in the period in which the asset is acquired.

Equipment for use in the Community Centre is depreciated on a straight line basis over the estimated useful life of each item, which varies between 6 and 12 years.

Investments

Investments are valued at market value as at the year end date.

PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 - CONTINUED

Pension costs

The Pension Builder Scheme of the Church Workers Pension Fund is made up of two sections, Pension Builder Classic and Pension Builder 2014, both of which are classed as defined benefit schemes.

The assets of the scheme are held separately from those of the employer.

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 means it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers and that contributions are accounted for as if the Scheme were a defined contribution scheme. The pension costs charged to the SoFA in the year are contributions payable.

A valuation of the scheme is carried out once every three years. The most recent scheme valuation completed was carried out as at 31 December 2020. This revealed, on the ongoing assumptions used, a deficit of £29.1m. There is no requirement for deficit payments at the current time.

Pension Builder 2014 will be valued in relation to the lump sum payable to members at normal pension age. There are no annual pension benefits.

PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 - CONTINUED

2. INCOMING RESOURCES 2(a) Donated Income – Voluntary Collections – General Collections - Baptisms, Weddings, Funerals Regular giving Gift Aid recoverable Legacies (note 13) Gifts and Donations Donated Income – Specific use Youth work - Gift Aid recoverable Bell Tower Fund Special Appeals (inc Gift Aid) Other Voluntary Income Wedding and funeral fees (net) Marriage preparation income Total Donations and Legacies 2(b) Gross income from events and activities Other Income Fund Raising Events Use of photocopiers Coffee and tea – Sunday Parents and Toddlers Wollaton Community Centre (note 4(a)) 2(c) Investment Income Bank interest Legacy fund interest Russell and Middleton Trust income Monuments fund income TOTAL INCOMING RESOURCES*	Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2022 Total Funds 2021 £ £ £ £ £ 1,377 - - 1,377 314 263 - - 263 255 106,743 - - 106,743 108,527 24,244 - - 24,244 24,777 - 10,000 - 10,000 6,000 1,725 21,875 - 23,600 396
	134,352 31,875 - 166,227 140,269
	- 600 - 600 635 - 175 - 175 137 - - - - - - 3,166 - 3,166 3,925
	- 3,941 - 3,941 4,697
	4,723 - - 4,723 7,257 - - - - -
	4,723 - - 4,723 7,257
	139,075 35,816 - 174,891 152,223
	405 - - 405 2,702 - - - - 18 232 - - 232 115 832 - - 832 157 1,811 - - 1,811 899 48,341 - - 48,341 33,783
	51,621 - - 51,621 37,674
	548 - - 548 14 205 - - 205 48 - - 4,098 4,098 3,942 161 - - 161 24
	914 - 4,098 5,012 4,028

	191,610 35,816 4,098 231,524 193,925

*Other income includes claims made under the CJRS grants in respect of furloughed staff totalling £1,342 (2021).

PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022 – CONTINUED

3. RESOURCES EXPENDED 3(a) Giving Overseas (note 12) Home (note 12) Special Appeals/ Partnership for Missional Church 3(b) Support Costs Operating Expenses (note 4a) 3(c) Directly related to the work of the Church Diocesan Parish Share Gas Electricity Insurance Maintenance and Security Water rates – Cemetery Staff expenses – Rector Staff expenses – Curate’s Salaries – Director of Music Maintenance – Organ and Piano Cost of services Choir costs Catering Bereavement group Amplification/ AV System Marriage and Baptism/ Confirmation preparation Spiritual Development Parents and Toddlers Printing, Stationery and Publications Miscellaneous expenditure Professional Fees Families and Children’s Development Worker	Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2022 Total Funds 2021 £ £ £ £ £ 4,000 - - 4,000 4,000 3,500 - - 3,500 3,562 32 3,166 - 3,198 -
	7,532 3,166 - 10,698 11,487
	43,586 - - 43,586 36,379
	43,586 - - 43,586 36,379
	116,196 - - 116,196 95,940 1,381 - - 1,381 1,492 1,347 - - 1,347 1,123 3,756 - - 3,756 3,699 2,528 219 - 2,747 2,689 80 - - 80 92 923 - - 923 715 - - - - 65 - - - - 1,831 384 - - 384 - 1,803 - - 1,803 1,665 110 - - 110 110 330 - - 330 69 5 - - 5 29 135 - - 135 22 72 - - 72 87 - - - - 43 3,523 - - 3,523 3,292 852 - - 852 555 1,439 - - 1,439 1,758 572 - - 572 685 - 6,108 - 6,108 -
	135,436 6,327 - 141,763 115,961

PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022 - CONTINUED

3. RESOURCES EXPENDED 3(d) Governance costs Telephone, internet and website costs Printing, stationery and publications Independent examination and accountancy Computer equipment and support Depreciation Staff salary costs 3(e) Land and Buildings Community Centre – depreciation TOTAL RESOURCES EXPENDED 4. ST LEONARD'S COMMUNITY CENTRE 4(a) Operating statement Gross Income Income Church contribution Expenditure Salaries and Wages Heating and Power Materials Administration Water charges Insurance Maintenance and repairs Depreciation Other costs Operating surplus/(deficit) Interest Add back Church contribution Net surplus/(deficit)	Unrestricted Funds Restricted Funds Endowment Funds £ £ £ 1,322 - - 124 - - 2,772 - - 364 - - 3,230 - - 15,351 - -	Total Funds 2022 Total Funds 2021 £ £ 1,322 1,421 124 230 2,772 2,640 364 533 3,230 11,950 15,351 16,178
	23,163 - -	23,163 32,952
	- 14,194 -	14,194 14,194
	- 14,194 -	14,194 14,194
	209,717 23,687 -	233,404 210,973
	Unrestricted Funds Restricted Funds Endowment Funds £ £ £ 48,341 5,270 53,611 27,993 4,148 393 1,446 1,399 1,397 3,151 3,132 527	Total Funds 2022 Total Funds 2021 £ £ 48,341 33,783 5,270 5,093
		53,611 38,876
		27,993 25,830 4,148 3,024 393 207 1,446 752 1,399 435 1,397 1,297 3,151 3,310 3,132 1,140 527 384
	43,586 - -	43,586 36,379
		10,025 2,497 - - (5,270) (5,093)
		4,755 (2,596)

PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 - CONTINUED

Unrestricted Funds £ -	Restricted Funds Endowment Funds £ £ 202 - 202 - - 202 - -	Total Funds 2022 Total Funds 2021 £ £ 202 202 - -
		202 202 - -
		- -
		202 202
		- -
- -	- (18,386) - -	(18,386) 19,559 - -
-	- (18,386)	(18,386) 19,559
	Freehold Land and Buildings £ 709,712 - -	Equipment Total £ £ 111,492 821,204 9,961 9,961 - -
	709,712	121,453 831,165
	226,901 14,194 -	104,060 330,961 3,230 17,424 - -
	241,095	107,290 348,385
	482,811	7,432 490,243
	468,617	14,163 482,780

The freehold land and buildings comprise the Wollaton Community Centre.

A condition of funding received from the Lottery Community Fund places a restriction on the sale of the Community Centre for a 25 year period up to 2029.

The Community Centre building is currently insured for £1,220,000.

Whilst the PCC has a duty of care to maintain the church buildings, land and monuments which, combined, currently have an insurable value of over £8,000,000, they are not owned by the PCC and have therefore not been included in these accounts as heritage assets. Likewise, the Antiphonal, which was willed to the church in 1460, but is currently in the keeping of the University of Nottingham, where it has undergone extensive restoration, is not included in these Accounts and its present value is unknown.

PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 - CONTINUED

8. CENTRAL BOARD OF FINANCE INVESTMENTS

Value of shares in the Central Board of Finance Investment Fund Original cost of shares Number of Shares Held	Russell Trust Middleton Trust Funds 2022 Funds 2021 £ £ £ £ 106,314 31,488 137,802 156,188
	26,827 1,084 27,911 27,911
	5,145 1,524 6,669 6,669

At the last dealing day, being 4 April 2023, the above shares had a total market value of £142,126. 9. FUND DETAILS

Note Restricted Funds Community Centre – Building Community Centre – Equipment 1 Special projects Youth fund 2 Monuments 4 Family and Children’s Development Worker 5 Endowment Funds Ministry Capital (CBF deposit a/c) 3 Middleton Trust (CBF investment fund) 3 Russell Trust (CBF investment fund) 5 Unrestricted fund Overall totals 31 December 2022	Balance b/fwd Incoming Outgoing Transfers Funds 2022 £ £ £ £ £ 482,811 - (14,194) - 468,617 202 - - 202 4,052 3,166 (3,385) - 3,833 23,464 775 - (24,239) - 310 - - - 310 - 31,875 (6,108) 24,239 50,006
	510,839 35,816 (23,687) - 522,968 3,875 - - - 3,875 35,689 936 4,201 (936) 31,488 120,499 3,162 14,185 (3,162) 106,314
	160,063 4,098 (18,386) (4,098) 141,677
	258,546 191,610 (209,717) 4,098 244,537
	929,448 231,524 (251,790) - 909,182

Note Restricted Funds Community Centre – Building Community Centre – Equipment 1 Special projects Youth fund 2 Monuments 4 Endowment Funds Ministry Capital (CBF deposit a/c) 3 Middleton Trust (CBF investment fund) 3 Russell Trust (CBF investment fund) 5 Unrestricted fund Overall totals 31 December 2021	Balance b/fwd Incoming Outgoing Transfers Funds 2021 £ £ £ £ £ 497,005 - (14,194) - 482,811 202 - - - 202 4,271 3,925 (4,144) - 4,052 22,692 772 - - 23,464 310 - - - 310
	524,480 4,697 (18,338) - 510,839 3,875 - - - 3,875 31,222 900 - 3,567 35,689 105,407 3,042 - 12,050 120,499
	140,504 3,942 - 15,617 160,063
	261,953 185,286 (192,635) 3,942 258,546
	926,937 193,925 (210,973) 19,559 929,448

PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 – CONTINUED

1 The Community Centre equipment Fund relates to donations, the use of which is restricted to equipping the Centre.
2 The Youth Fund relates to donations, the use of which is restricted to youth expenditure.
3 Income arising from the Ministry Capital Fund and Middleton Trust can only be used for the care, maintenance and insurance of church goods and ornaments and ministry expenses.
4 The Monuments Fund can only be used for the care, maintenance and upkeep of the various church monuments. 5 Income arising from the Russell Trust is paid into the General Fund. The Fund represents the sale proceeds from the former curate’s residence and although no restrictions exist as to how it can be spent, permission from the diocese would be required before any future expenditure could be made.
6 Special Projects Funds at 1 January 2022 is £4,052 for the Bell Tower, expenditure in the year totalled £219. The balance carried forward at 31 December 2022 is £3,833.
7 Family and Children’s Development Worker this fund is to support the family and children’s development worker and related activities for a 3 year period; in the year the balance held in the youth fund has also been transferred to this fund. The total balance held at 31.12.22 was £50,006.
8 Designated Funds of £100,000 were set aside in the year to support mission work.

10. ANALYSIS OF NET ASSETS BY FUND

Fixed Assets Current Assets/Liabilities Fund Balance Fixed Assets Current Assets/Liabilities Fund Balance 11. STAFF COSTS Wages and salaries Social security costs Pension costs Expenses	Unrestricted Funds £ - 244,537	Restricted Funds Endowment Funds Total Funds 2022 Total Funds 2021 £ £ £ £ 482,780 137,802 620,582 646,431 40,188 3,875 288,600 283,017
	244,537	522,968 141,677 909,182 929,448
	Unrestricted Funds £ - 258,546	Restricted Funds Endowment Funds Total Funds 2021 Total Funds 2020 £ £ £ £ 490,243 156,188 646,431 654,156 20,596 3,875 283,017 272,781
	258,546	510,839 160,063 929,448 926,937
		PCC Community Centre Total 2022 Total 2021 £ £ £ £ 24,867 23,719 48,586 43,055 815 759 1,574 888 931 1,758 2,689 3,188 126 - 126 - 26,739 26,236 52,975 47,131

During the year the PCC employed on a part time basis a Parish administrator, a Finance Administrator, a Music Director, a Toddler Group leader and a Family and Children’s Development worker.

In addition the Community Centre employed on a part time basis a Caretaker and an Office Manager.

None of these earned £60,000 p.a. or more.

No PCC members received or are due to receive any expenses or remuneration for the year, other than reimbursed expenses paid to the Rector and Curate totalling £923 (2021: £780). These were mainly made up of travelling, telephone, postage and stationery expenses incurred and in one-off donations for training costs.

Giving by PCC Members totalled 42,434 (2021: £20,028). There are no other related party disclosures.

PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 - CONTINUED

12. GIVING Overseas Church Mission Society (CMS) Home Leone Home Framework Crossteach Renew Wellbeing Christians Against Poverty Betel Community Refugee Roots (formerly Rainbow Project ) Safe Families for Children BRF Notts Clergy Widows 13. LEGACIES Michael Stacey Dorothy Lawry Robert Ivor Norris	2022 2021 £ £ 3,500 3,500 500 500
	4,000 4,000
	250 250 500 500 500 500 500 562 500 500 500 500 250 250 250 250 250 250
	3,500 3,562
	2022 2021 £ £ - 1,000 - 5,000 10,000 -
	10,000 6,000

14. CONTINGENT LIABILITIES

In accordance with normal practice, the terms of certain grants may result in repayment of all or part of the grants receivable if the conditions of the grants are not met. The trustees do not believe that any material amounts will need to be repaid.

15. PENSION CONTRIBUTIONS

St Leonard’s PCC contributes to the pension scheme an amount based on the employee’s basic salary and the employees are required to make a minimum contribution. The contributions for the year totalled £2,689 (2021: £3,188).

St Leonard’s PCC had 4 active members and 1 deferred member in the DCS at 31 December 2022.

PAROCHIAL CHURCH COUNCIL OF ST. LEONARD, WOLLATON

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022 - CONTINUED

16. PARISH SHARE

During the year there has been much discussion as regards the level of the parish Share payable by St Leonard’s PCC between the PCC and the Deanery (See Trustees Report).

The total assessed as payable by the Diocese of Southwell and Nottingham for 2022 was £116,196 (2021: £95,940) which was fully paid, a parish share discount and support fund monies of £1,218 reduced the annual total payable of £117,414.

17. SOFA COMPARATIVE INFORMATION

INCOMING RESOURCES Donations and legacies Income from other events and activities Investment income TOTAL INCOMING RESOURCES EXPENDITURE Costs of raising funds Expenditure on charitable activities TOTAL EXPENDITURE Net gains/(losses) on investment assets – unrealised NET INCOME/EXPENDITURE Transfer between funds Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2021 £ £ £ £ 147,526 4,697 - 152,223 37,674 - - 37,674 86 - 3,942 4,028
	185,286 4,697 3,942 193,925
	- - - - 192,635 18,338 - 210,973
	192,635 18,338 - 210,973
	- - 19,559 19,559
	(7,349) (13,641) 23,501 2,511 3,942 - (3,942) -
	(3,407) (13,641) 19,559 2,511 261,953 524,480 140,504 926,937
	258,546 510,839 160,063 929,448