|Contents|||
|---|---|---|
|Annual
Report ofthe Parochial
Church Council|||
|Reference and administrative
details ..|||
|Membership
ofthe Parochial
Church Council. .|||
|Aims and Purpose|||
|Structure,
governance
and management.|||
|Objectives and activities
in 2022.|||
|Achievements
and performance
in 2022.|||
|Financial
review of2022 .|||
|Church Council's responsibilities
statement .|||
|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|
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||||||||||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|
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|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|
##