| Contents | ||
|---|---|---|
| Annual Report ofthe Parochial Church Council |
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| Reference and administrative details .. |
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| Membership ofthe Parochial Church Council. . |
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| Aims and Purpose | ||
| Structure, governance and management. |
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| Objectives and activities in 2022. |
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| Achievements and performance in 2022. |
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| Financial review of2022 . |
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| Church Council's responsibilities statement . |
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| Independent Examiner's Report to the Trustees ofSt. Margaret's |
Church ..... | ... I0 |
| Responsibilities and basis ofreport . |
.10 | |
| Independent examiner's statement . |
.10 | |
| Financial Statements. |
||
| STATEMENT OF FINANCIAL ACTIVITIES . | ||
| BALANCE SHEET at 31"December 2022 . | .13 | |
| Notes to the Financial Statements. .................. |
... I5 | |
| INCOME. | .19 | |
| EXPENDITURE | .22 | |
| ASSETS.. | .24 | |
| DEBTORS AND LIABILITIES | .25 | |
| ANALYSIS OF CHARITABLE FUNDS | .26 | |
| END OF DOCUMENT. . | .29 |
| Reference and adm | Reference and adm | inistrative |
details | |
|---|---|---|---|---|
| Registered charity |
name | St Margaret's | Church | |
| Charity | registration | number | 1137451 | |
| Principal | office | Soane Street | ||
| Ipswich | ||||
| Suffolk |
| Membership ofthe Parochial Church Cou |
ncil |
|---|---|
| Incumbent: | David Cutts (until April 2022) |
| (role vacant forthe n.omainder ofthe year) | |
| Churchwardens: | Philip Hall |
| Margaret Woodward |
|
| Deanery Synod representatives: | Margaret Woodward |
| Helen Prior-Townsend | |
| Andy Turpin | |
| Deanery Synod member (co-opted): | George Woodward |
| Secretary: | Sarah Milner |
| Elected PCC members: | Maggie Conder |
| Gill Jackson | |
| Richard Jackson | |
| Frederike Jacob | |
| Mary Johnston | |
| Carol Klug | |
| Ron Llewellyn | |
| Tim Lockington | |
| Melanic Quinton | |
| Co-opted PCC members: | Peta Lowin |
| Anna Sawyer-Wright |
| 2022 | 2022 | 2021 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Note | Unrestricted | Restricted | Endowment | Total funds | Total funds | ||||||||||
| funds | funds | funds | |||||||||||||
| Income and endowments | |||||||||||||||
| Voluntary giving (donations, |
legacies and grants) | 4 | 102,340 | E | 75 | E | — | E | 102415 | E | 105,994 | ||||
| Church activities - fees |
5 | E | 3,741 | E | E | - | E | 3,741 | E | 1,854 | |||||
| Church activities —other trading |
activities | 5 | 31,414 | E | E | — | E | 31,414 | E | 17,774 | |||||
| Investment income |
6 | E | 3769 | E | E | - | E | 3,769 | E | 611 | |||||
| Total income | 141,264 | E | 75 | E | — | E | 141,339 | E | 126,232 | ||||||
| Expenditure | |||||||||||||||
| Costs of generating voluntary |
income | N/A | E | - | E | E | |||||||||
| Costs of church activities | 7 | E | 91,103 | E | 91,103 | E | 90,777 | ||||||||
| Church Expenses |
8 | E | 79,800 | E | 498 | 80,299 | E | 35 011 | |||||||
| Total expenditure | E | 170,903 | E | 498 | E | 171,401 | E | 125,788 | |||||||
| Sub-total: net income/outgoings before considering value of endowment |
fund | 30,062 | |||||||||||||
| Net gains/(losses) on investments |
-E | 2,120 | -E | 2,120 | E | 2325 | |||||||||
| Net income/(outgoing) | -E | 29,639 | -E | 423 | -E | 2,120 | % | 32,182 | E | 2,770 | |||||
| Reconciliation offunds |
|||||||||||||||
| Total funds brought forward |
(from | 2021 | SOFA) | E | 451,523 | E | 7,221 | E | 18,715 | E | 477,460 | E | 474,671 | ||
| Adjustment for Debtors under-estimate * |
in 2021 | 21 | |||||||||||||
| financial statements |
|||||||||||||||
| Total funds carried forward 2021 funds brought forward + 2022 net income/outgoings |
421,905 | E | 6,798 | E | 16,595 | E | 445,299 | E | 477,460 |
| Note | 2022 | 2021 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Fixed Assets | |||||||||||
| Tangible fixed assets |
11 | F | 100,000 | 100,000 | |||||||
| Insestments | 12 | F | 268,891 | 267,736 | |||||||
| (a) | F | 368,891 | F | 367,736 | |||||||
| Current Assets | |||||||||||
| Debtors | 13 | F | 17,155 | 9,811 | |||||||
| Cash at bank and in | hand | f | 68,008 | F | 105,972 | ||||||
| (b) | 85,163 | F | 115,782 | ||||||||
| Creditors: | amounts | falling due within | one year (current | liabilities) | 14 | (c) | f | 8,755 | f | 6,059 | |
| Net current assets | (b - c) | (d) | 8 | 76,408 | F | 109,724 | |||||
| Total Assets | |||||||||||
| Total assets (fixed and current) less current liabilities | (a | + d) | 445,299 | F | 477,460 | ||||||
| Net assets | F | 445,299 | F | 477,460 | |||||||
| Funds ofthe charity | |||||||||||
| Endowment | funds | 17 | 16,595 | F | 18,715 | ||||||
| Restricted | funds | 16 | F | 6,798 | F | 7,221 | |||||
| Unrestricted | funds | 15 | F | 421,906 | F | 451,524 | |||||
| Total charity funds | F | 445,300 | F | 477,461 |
| Voluntary | Giving | Giving | 2022 | 2021 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Unrestricted | Restricted | Total Funds | ||||||||||||
| Funds | Funds | 2022 | Funds | Funds | 2020 | ||||||||||||
| Donations | |||||||||||||||||
| Planned Giving |
F | 76,738 | F | F | 76,738 | F | 81,190 | F | F | 81,190 | |||||||
| Collections | at services | 6,644 | f | 6,644 | 2,862 | 2,862 | |||||||||||
| Other giving, | including | special | appeals | F | 3,602 | F | f | 3,602 | f | 3,467 | 6 | 400 | F | 3,867 | |||
| Income tax | recovered | f | 15,206 | f. | f | 15,206 | *f | 15,454 | f | F | 15,454 | ||||||
| Legacies | |||||||||||||||||
| Legacies | F | 1,000 | F | F | 1,000 | ||||||||||||
| Grants | |||||||||||||||||
| Government | Business | Grants | re. COVID-19 | ||||||||||||||
| Coronavirus | Job Retention | Scheme | f | 1 371 | F | f. | 1,371 | ||||||||||
| Other Grants | f | 150 | f. | 75 | f | 225 | f | 150 | F | 100 | F | 250 | |||||
| Total income from voluntary | giving | F | 102,340 | F | 75 | F | 102,415 | f | 105494 | F | 500 | F | 105994 |
| 2022 notes for Voluntary Giving: |
|||||
|---|---|---|---|---|---|
| a) "Planned Giving" includes income received |
via the Parish Giving Scheme, standing orders, and the |
||||
| regular giving envelope scheme. |
|||||
| b) "Collections" includes all income received from collections at services (including |
card | payments), | |||
| except money received via the regular giving envelope scheme. |
|||||
| c) "Other giving" includes general donations (unrestricted) received outside service |
collections, | ||||
| including donations from organisations that |
have used the church but not been |
charged (e.g. school | |||
| services). | |||||
| It excludes donations received in response to |
an appeal/collection for a specific purpose, |
where | that | ||
| money was passed in whole to an individual |
or an external charity/organisation |
as a | gift/donation | ||
| (e.g. a leaving gift funded through a special |
collection; a charitable donation funded through |
a | |||
| special appeal etc.), as these are not PCC | funds (the PCC account is just being | used | for | ||
| consolidating the donations). |
|||||
| d) "Income tax recovered" includes tax recovered in 2022 via the Parish Giving Scheme, |
plus Gift Aid | ||||
| that will be claimed in 2023 but which relates to income received in 2022. |
|||||
| e) "Legacies" | |||||
| (i) No new legacies were received in 2022. |
|||||
| (ii) Interest received on the COLA CBF CofE deposit account has not been included, | even though | ||||
| the interest accrued is allocated to the Legacies fund. (This interest is included |
under | "Bank | interest | ||
| receivable" instead: see "Investments". ) | |||||
| (iii) Other income to the Legacies fund was | from VAT reclaimed for work to install new |
church | |||
| lighting. This is not a new Legacy, and so has not been included here. It has been taken into |
|||||
| account when deriving the net expenditure |
figure the lighting (Legacies fund). |
||||
| f) "Other grants" includes a restricted grant for |
youth work, and an unrestricted grant from |
IBC intended | |||
| to contribute to the cost of flooding lighting. |
| 202t: | |
|---|---|
| *In addition to the in-year Gift Aid | received |
| from the Parish Giving Scheme, |
this also |
| includes the Gift Aid tax claimed |
in 2022 |
| relating to (non-PGS) giving received in |
|
| 202t (F9610.59). |
| Church | Activities | Activities | 2022 | 2022 | 2021 | 2021 | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Total | Funds | Unrestricted | Total Funds | |||||||
| Funds | 2022 | Funds | 2020 | ||||||||
| Wedding | & funeral | fees retained | by PCC | 8 | 3741 | F | 3741 | F | 1,854 | F | 1,854 |
| Trading | actigties | (Rent received | for Church Centre) | f | 31,414 | f. | 31,414 | F | 17,774 | f. | 17,774 |
| Total income from church activities |
f. | 35,155 | f. | 35,155 | F | 19,628 | f. | 19,628 |
| Investments | 2022 | 2022 | 2021 | 2021 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Total | Funds | Unrestricted | Total Funds | |||||
| Funds | 2022 | Funds | 2020 | ||||||
| Dividends from |
investments | 8 | 494 | 8 | 494 | 8 | 481 | 8 | 481 |
| Bank interest | receivable | F | 3,275 | f | 3,275 | f | 130 | f | 130 |
| Total income | from investments | F | 3,769 | f | 3,769 | f | 611 | f | 611 |
| Costs ofchurch | activities | 2022 | ||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | ||||
| Funds | Funds | 2022 | ||||
| Diocesan Parish | Share | f | 71,923 f | f | 71,923 | |
| Mission giving & |
donations | f | 4,912 f | f | 4,912 | |
| Salades, wages | & expenses | f | 14,267 f | f | 14,267 | |
| Total cost ofchurch activities | f | 91 103 f | f | 91,103 |
| 2021 | ||||
|---|---|---|---|---|
| Unrestricted | Restncted | Total Funds | ||
| Funds | Funds | 2021 | ||
| f | 71 566 f | f | 71,566 | |
| f | 4,800 f | f | 4,800 | |
| f | 14411 f | f | 14,411 | |
| f | 90777 f | f | 90,777 |
| Church Expenses | Church Expenses | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Church expenses | 2022 | 2021 | |||||||||||
| Unrestricted | Restricted | Total Funds | Unrestricted | Restncted | Total Funds | ||||||||
| Funds | Funds | 2022 | Funds | Funds | 2021 | ||||||||
| Church running costs |
f | 11,280 | 498 | f | 11,778 | f | 8728 | f | 474 | f | 9,202 | ||
| Church utility |
costs | f | 7,159 | f | 7159 | f | 5404 | f | 5404 | ||||
| Cost oftrading | f | 20,735 | f | 20,735 | f | 14,619 | f | 14,619 | |||||
| Major repairs | —church | building | f | f | f | 4335 | f | 4,335 | |||||
| Major repairs | - Church | Centre | f | 1,291 | f | 1,291 | f | 1,451 | f | 1,451 | |||
| Other expenditure | f | 39,336 | f | 39,336 | |||||||||
| Total cost of | church | expenses | f | 79,800 f | 498 | f | 80,299 | f | 34,537 | f | 474 | f | 35,011 |
| 2022 | 2021 | Increase ('22 v '21) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Staffcosts | (wages) | - | pay | roll | (contracted) | staff | only* | E | 15 | 348 | E | 14 | 645 | 5% |
| Tangible Fi |
xed | Assets | |||
|---|---|---|---|---|---|
| Freehold | |||||
| property | |||||
| f | |||||
| Cost | |||||
| At 1 January | 2022 and 31 December | 2022* | 5 | 100,000 | |
| Depreciation | |||||
| At 1 January | 2022 and 31 December | 2022* | |||
| Carrying amount |
|||||
| At 31 December | 2022* | 100,000 | |||
| At 31 December 2021* | 100,000 |
| COIF Charities Investment Fund |
2022 | 2021 | |||||
|---|---|---|---|---|---|---|---|
| Number ofshares held |
910 | 910 | |||||
| Mid market value ofone share on |
31' December 2022 | E | 1824 | E | 20 57 | ||
| Market value oftotal share holding |
on 31" December | 2022 | 5 | 16595 | 5 | 18715 | |
| Net gain/(losses) on investments |
-E | 2 120 | 6 | 2 325 | |||
| CBF Church ofEngland Deposit |
Fund | (tbegacies | Fund" ) | 2022 | 2021 | ||
| Value on 31n December 2022 | 252 296 | F | 249.020 |
| Gift Aid | relating | relating | to 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Actual In corn e |
||||||||||
| Debtors | 2022 | 2021 | (received | in | ||||||
| Debtors for goods and services | 9 | 7,848 | F | 200 | 2022) | Difference | ||||
| HMRC (GiR Aid tax pertaining | to gigng income received | in 2022) | 9 | 9,307 | F | 9,611 | F 9,631.74 |
9 | 21.15 | |
| 9 | 17,155 | F | 9,811 |
| Creditors | (amounts | falling due within one year) | 2022 | 2021 | ||
|---|---|---|---|---|---|---|
| Creditors | for goods | and services | 8 | 8 755 | F | 6 059 |
| Accruals | and deferred income |
|||||
| C | 8 755 | F | 6 059 |
| At | 1 Jan 2022 | Income | Expenditure | Transfers | Gains and losses |
At 31 Dec 2022 | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| General | funds | 31,138 | 111,609 | -114,028 | -2,419 | 28,719 | ||||
| Church | Restoration | and Maintenance | 37,535 | 494 | -962 | -468 | 37,068 | |||
| Church | Centre | 16,605 | 31,414 | -22,026 | 9,388 | 25,993 | ||||
| Fabric | 427 | 0 | 0 | 0 | 427 | |||||
| Vicar & | Wardens | 328 | 0 | -80 | -80 | 248 | ||||
| Legacies | 258,417 | 10,768 | -46,829 | -36,061 | 222,357 | |||||
| Church | Centre Asset | 100,000 | N/A | N/A | N/A | 0 | 100,000 | |||
| Bells | 7,095 | 0 | 7,095 | |||||||
| Totals | 451,545 | 154,286 | -183,925 | 0 | -29,639 | 421,906 |
| At 1 Jan 2021 | Income | Expenditure | Transfers | Gains and losses |
At 31 Dec 2021 | ||||
|---|---|---|---|---|---|---|---|---|---|
| 5 | |||||||||
| General | funds | 31,217 | 105,830 | -105,231 | -700 | -100 | 31,117 | ||
| Church | Restoration | and Maintenance | 38,951 | 481 | -1,897 | -1,416 | 37,535 | ||
| Church | Centre | 12,886 | 19,019 | -15,300 | 3,719 | 16,605 | |||
| Fabdc | 427 | 0 | 0 | 427 | |||||
| Vicar & | Wardens | -372 | 0 | 700 | 700 | 328 | |||
| Legacies | 260,902 | 1,130 | -3,614 | 0 | -2,485 | 258,417 | |||
| Church | Centre Asset | 100,000 | N/A | N/A | N/A | 0 | 100,000 | ||
| Bells | 7,095 | 7,095 | |||||||
| ToteIs | 451,106 | 126,460 | -126,042 | 418 | 451,524 |
| At 1 Jan | 2022 | Income | Expenditure | Transfers | Gains and losses |
At 31 Dec 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bells | 4,702 | -438 | -438 | 4,264 | ||||||||
| Befiienders | 1,113 | 1,113 | ||||||||||
| Night Shelter | 661 | 661 | ||||||||||
| General | Fund (Youth) | 495 | 75 | -60 | 15 | 510 | ||||||
| General | Fund (restncted | donations/grants) | 0 | 0 | 0 | 0 | 0 | |||||
| Vicar & Wardens | Fund * | |||||||||||
| Fabric * | 250 | 250 | ||||||||||
| Totals | 7,221 | 75 | -498 | -423 | 6,798 | |||||||
| *restricted | element of | the fund | ||||||||||
| At 1 Jan | 2021 | Income | Expenditure | Transfers | Gains and losses |
At 31 Dec 2021 | ||||||
| 5 | ||||||||||||
| Bells * | 5,176 | -474 | -474 | 4,702 | ||||||||
| Befrienders | 1.113 | 0 | 0 | 1,113 | ||||||||
| Night Shelter | 511 | 150 | 150 | 661 | ||||||||
| General | Fund (Youth) | 395 | 100 | 100 | 495 | |||||||
| General | Fund (restricted | donations/grants) | ||||||||||
| Vicar 8 Wardens | Fund | |||||||||||
| Fabric * | 250 | 250 | 250 | |||||||||
| TotsIs | 7,195 | 250 | -474 | -224 | 7,221 |
| At 1 Jan 2022 | Income | Expenditure | Transfers | Gains and losses |
Gains and losses |
At 31 Dec 2022 | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| 6 | ||||||||||
| Permanent | Endowment | Fund | 1 - desc in a/cs | |||||||
| Expendable Investment |
Endowment | Fund | —COIF | 18,715 | -2,120 | 16,595 | ||||
| Totals | 18,715 | -2,120 | 16,595 | |||||||
| At 1 Jan 2021 | Income | Expenditure | Transfers | Gains and losses |
At 31 Dec 2021 | |||||
| C | ||||||||||
| Permanent | Endowment | Fund | 1 —desc in a/cs | |||||||
| Expendable Investment |
Endowment | Fund | —COIF | 16,390 | 2,325 | 18,715 | ||||
| Totals | 16,390 | 2,325 | 18,715 | |||||||
| TOTAL FUNDS at 31st | December 2022 | 445,300 |