OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

← The Parochial Church Council Of The Ecclesiastical Parish Of Boston

2023-12-31-accounts

==> picture [252 x 86] intentionally omitted <==

PCC of the Parish of Boston (incorporating St Botolph's, St Thomas' and St Christopher's) CHARITY COMMISSION REGISTERED NO: 1138045

STATEMENT OF ACCOUNTS

for the year ended 31st December 2023

==> picture [83 x 46] intentionally omitted <==

PCC of the Parish of Boston

Contents Page

for the year ended 31st December 2023

INDEX

Legal and Administrative Information 1
Trustees' Annual Report 2 - 6
Auditors Report 7 - 10
Statement of Financial Activities 11
Statement of Financial Position 12
Statement of Cash Flows 13
Notes to the Accounts 14 - 32

PCC of the Parish of Boston

Reverend's Report

for the year ended 31st December 2023

Dear Friends,

We have had the most amazing year. The Stump has had record numbers through the door for all our events and is very much at the heart of the town, and, along with the successful mission work happening at St Thomas, our two churches are the focus of life in this parish. The 2023 figure of 74,895 visitors into the "Stump" is 12,032 up on the 2022 figure of 62,863, neither figure is inclusive of the service or special event attendances. Christmas services were closed to pre-covid numbers, the Christmas Eve Carols by Candlelight was particularly well attended by around 650 people.

The highlight of the year was the visit on the 12th September, of Her Royal Highness the Princess Royal in her capacity as Patron of the Restoration Trust. Revd Jane introduced her to the ministry team, church officers and volunteers, and local dignatries. HRH viewed the time capsule now interred in its permanent home in the north aisle, inspected the preservation work in the Lady Chapel, and the book scanner, and was both very knowledgeable about, and interested in the work undertaken in the library. She spent a considerable time speaking to Chris when he escorted her up to the room to view the new shelving and the books, now back in their rightful home. The Princess was given a guided tour of the Blenkin Memorial Hall and concluded the day by unveiling a plaque to commemorate her visit and officially declare the hall open.

For the second year in a row, we lost a major member of the ministry team when Revd. Jane Robertson retired; her final service was on Sunday 24th September 2023. The day was a bittersweet one for me as she had been my training incumbent since I arrived in July 2021, and she remains a very dearly loved friend. The thought of not having Jane around to share the joys and sorrows of priestly ministry was quite daunity for me, but Chris, Adam and John have been more than encouraging and supportive - our core ministry team remains strong, and the parish continues to operate efficiently. At the time of writing, we know we will be welcoming a new Rector, Father David, and I am sure that he will settle in quickly with the support of the team.

The management team became even more effective with the appointment of Polly Tamberlin as housekeeper. She has improved the running of events both here and in the Blenkin by ensuring that we are well prepared for everything that happens in both buildings. Along with the events management team and our wonderful volunteers, she organises the setting out of the worship space for the many activities in the church, and in the Blenkin. Polly reorders the space to meet the needs of the hirers and the regular users of the newly appointed building. It has to be said that Polly’s hard work has made both the public and restricted areas of the church, the food bank and the Blenkin very much more welcoming and pleasant to use.

Local Mission Partnership – As a result of the Time to Change Together Initiative we have worked more closely with our clergy and lay colleagues, supporting each other in local ministry. The authorization of 8 lay ministers (7 in March 2023 and then 1 in early 2024) as part of ongoing discipleship, transcended parish and partnership boundaries and has enabled more effective ministry across the North and Soth Local Mission Partnership.

A Ministry team offers baptism preparation in our parish, and Revd. Sudharshan offers marriage preparation in Wyberton and Frampton. ALMs have gone into churches outside their parish to lead a Christingle service. Clergy have assisted in each other’s parishes taking baptisms and funerals or covering Sunday services. We are also extremely grateful to our retired colleagues with permission to officiate who have continued to support us throughout.

As part of TTCT all the clergy, the licensed and the authorised lay ministry now have joint chapters every other month when we meet to discuss issues that concern us and offer much needed support and encouragement to each other.

PCC of the Parish of Boston

Reverend's Report

for the year ended 31st December 2023

Blenkin Memorial Hall – is now a fully equipped song school for all our choirs. John has continued to grow the worship mission among the children and young people of our parish and neighbouring parishes. Our Junior and B16 choirs have grown numerically and all 5 choirs flourish in this space. The main hall has been hired out to various training organisations, dance, and craft groups, and is used by the church as a place to host ‘thank you’ teas for the volunteers. We have also hired the hall for baptism parties. The office space has been sorted so that Chris and John (upstairs) and Jayne and Caz (downstairs) now have warm, well-lit rooms, with ample storage space, in which to work. The Medlock Room and the Buxton Room function as small spaces in which to meet with funeral families, have small meetings or receive individual on-line training via Zoom. The completion of this project is already proving to be an asset to the church and community.

The Library Project has reached completion and the books have been returned. We owe a huge debt of thanks to Chris who has driven this project from start to finish, he single- handedly moved all the books back upstairs from the Cotton Chapel where they have been in storage. This space has been designed and constructed to ensure that lighting and humidity levels will enable our precious books to be preserved for future generations to study. We have already welcomed a visiting professor from America who came to view a very rare copy of the Book of Martyrs. In 2024 we will open the library to the public and offer guided tours.

This year the parish church has continued to support the civic life of the town by hosting a thanksgiving service for the work of mayor Ann Dorrien, and then a service to welcome David Brown at the start of his mayoralty. The church hosted the opening of the Town’s Christmas festivities and welcomed school and community choirs in.

We have hosted the Remembrance Service for the town and welcomed the town’s children and young people in for St George’s Day (Scout and Guide movement) and their carol service, and the annual Charter celebration for the Grammar School. Each service has seen St Botolph’s back to pre-covid numbers which has been a great joy to behold.

From November, we were privileged to hold the Baby Loss Service, the Memorial Service for Lincolnshire’s Road Accident Victims, and the Butterfly Hospice Light Up a Life Service. We welcomed in Boston Framework to hold their first Carol Service, and each one proved to be very moving occasions.

Our Community Church, St Thomas, continues to support and encourage lay-led ministry, and mission with children and the local community. The ALMs lead on Baptism preparation for the parish, and I have continued to lead collective worship every other week at our local school, and support curriculum-based activities either in school or in the church such as understanding baptism and Holy Communion.

The ‘Warm Spaces’ initiative, based in St Thomas’ Church Hall continues to flourish. The support group for young families has grown slowly, but as I write now welcomes 11 children each week from around 20 families. The soup lunch has become a two-course meal attended by on average 20-25 people each week but attracted record numbers for Revd. Margaret’s 8oth birthday celebration. We have had to buy a dishwasher to cope with the aftermath of this very popular support group and I am delighted to report that the scheme is completely self-financing. The Friday mornings social event for senior citizens also continues to provide a welcome for around 12-15 people.

This parish and its people are a joy to live amongst and to serve. It has been a great privilege for me to worship with you and to share the important rites of passage in your lives. In 2023 our wedding numbers were down to 4 couples and 2 who renewed their vows. However, projected numbers for 2024 are back up to 14. Jane, Chris, and I, along with our retired priests with PTO have conducted 40 funerals for the parish, 12 in church. And Jane and I have joyfully baptised 45 children and adults.

PCC of the Parish of Boston

Reverend's Report

for the year ended 31st December 2023

As we look into 2024, we can continue to feel optimistic that, no matter what the media wish to portray, Boston continues to be a town where people witness to the saving love of our Lord Jesus Christ, and a diverse population who support and care for one another as good neighbours who live together in relative peace.

May God bless you all.

…............................ Rev. Sally Clifton Trustee

Date:

PCC of the Parish of Boston Legal and Administrative Information for the year ended 31st December 2023

Rev. Sally Clifton - Chair (Appointed 24/09/23) Rev. Jane Elizabeth Robertson - Chair (Resigned 24/09/23) Graham Stewart Smith David Scoot Sue Kirk MBE Adam Kelk Robert William Tamberlin Granville R Paul Ann Sargeant (Resigned 02/05/23) Trevor Baily Paula Tamberlin Isobel Thomas Ashley Cooper Kathleen Florence Davey John Lyon Andrew Nicholas Jordan Elms Marion Rose Forster Parish Chris Ladner Jayne Elizabeth Morris (Appointed 02/05/23)

Registered Office

1 Wormgate Boston Lincolnshire PE21 6NP

Auditors

Moore Thompson Bank House Broad Street Spalding Lincolnshire PE11 1TB

Bankers

Lloyds Bank 51 Market Place Boston PE21 6NQ

Page 1

PCC of the Parish of Boston

Annual Report

for the year ended 31st December 2023

The Trustees present their report and financial statements for the year ended 31st December 2023.

The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in 2015 in preparing the annual report and financial statements of the charity.

Structure, Governance and Management

The PCC of the Parish of Boston (hereinafter - the PCC) is a registered charity (charity registration number 1138045) which provides the Church of England religious services to the community within its parish boundaries.

The charity was registered with the Charity Commission on 15th September 2010.

The PCC is controlled by its governing document, the Parochial Church Council powers measure (1956) as amended and church representation rules.

The Trustees who served during the year and detailed on the charity information on page 1.

Recruitment and Appointment of New Trustees

New Trustees are recruited by advertising and recommendation. Current Trustees vote on the new Trustee applications at Board Meetings. Ideally the Trustees would like to keep a balance of skills and experience on the Board.

New Trustees are encouraged to familiarise themselves with charity laws, the financial reports of the PCC and to attend Trustee meetings and other events.

Organisational Structure

The PCC is managed by a Board of Trustees which is responsible for overseeing the financial and operation direction of the PCC. The Board is responsible for ensuring that all recommended financial controls have been considered and introduced and they meet on a regular basis.

Objectives and Activities and Public Benefit

The main objective of the PCC is to provide Church of England religious services to the community within the Parish of Boston as well as promoting in the ecclesiastical Parish the whole mission of the Church.

The objectives are set to reflect the Church's faith and community aims. Each year the Trustees review the objectives and activities to ensure they continue to reflect the aims of the Church. In carrying out this review the Trustees have considered the Charity Commission's general guidance on public benefit and in particular its supplementary public guidance on the advancement of religion for the public benefit.

The Trustees are highly conscious of the need to provide the best possible public benefit in line with Charity Commission guidance and consider that the charity does this.

The charity has undertaken various activities described in the sections below during the year to implement these objects in line with the PCC's current development path. These activities also provide support for the public benefits that the charity provides.

Related Parties

Transactions during the period with trustees and any other related parties are detailed on note 15 of these financial statements.

Risk Management

The Trustees have a duty to identify and review the risks to which the PCC is exposed and to ensure appropriate

Page 2

PCC of the Parish of Boston

Annual Report

for the year ended 31st December 2023

Fundraising

The charity does not carry out significant fundraising activities

Achievements and Highlights for 2023

Through consultation our congregations have agreed that The Parish of Boston hopes to be known as a significant Place of Hospitality. A place where the hospitality of God can be encountered by all; for people who visit every day, people who may visit once in their lives, for the young and old, worshippers and pilgrims, historians and tourists. We are a united parish which includes St. Botolph's, St. Thomas' and St. Christopher's.

Inspire - " The Life Long Learning Project "

Blenkin Memorial Hall

The repair, renovation and redevelopment of the Blenkin Memorial Hall was completed in 2023 and was officially opened by the Princess Royal on the 12th September. It continues to be used by community groups and organisations, including Boston College, The Town Deal Projects and heritage organisations, in addition to it being the home of the song school which now oversees four choirs of all agres, ranges and abilities. The appointment of a full time Director of Music will enable our outreach work to extend to many more school, and initiative which is being supported by the Diocesan Transformation Fund. The Director of Music and the song school supported 497 new learners in 2023 and was involved in the support of six primary schools.

The Library

Work on the library was completed at the beginning of 2024. The project was successful in developing and conserving the medieval library interior and exterior that will enhance this architectural, educational and cultural asset for the town.

The conservation of the Library and the opening of it to the public will encourage visitors to this key heritage buildings and help provide a self-sustaining future for this key and central historic asset. There will also be community engagement throughout our volunteer programme with volunteering roles created as Library and Conservation guides ascwell as those created in Events Management.

The Foodbank

The Foodbank service, that the Church takes part in, continued to be exceptionally important with the onset of the cost of living crisis by providing those in need in the local community three days' nutritionally balanced emergency food plus support to local people who are referred to us in crisis. We remain committed to being part of the nationwide network of foodbanks working to combat poverty and hunger across the UK.

In addition, during 2023, further grant funding was received for this service from the Trussell Trust. This funding was to help with the running costs of the service, but also, in order for finance management advice to be available on site when the foodbank was open. Following on from funds received in 2021, this further funding has been secured for both 2023 and 2024.

The PCC have worked with the NHS via the operation of a Crisis Wellbeing Café within The Stump coffee shop from 2023. An initial funding receipt of £25,000 was received in 2020 but due to COVID-19 the project was unable to commence until 2022. The fund has been used to offer days when the café will be available to help combat individuals with loneliness and low level mental health issues within the community in conjunction with Lincolnshire Partnership Foundation.

PCC of the Parish of Boston

Page 3

Annual Report

for the year ended 31st December 2023

Financial Report

The financial performance of the PCC for the year ended 31st December 2023 is detailed on pages 11 to 32 of these financial statements and the Trustees are pleased with the performance during the year.

Continued high costs for utilities continued to impact on our expenditure and poor weather affected revenue from tower climbs. Revenue from vistitors through donations and votives has still not recovered to pre covid levels. The commercial activities and events showed a strong recovery and have given a good base to build upon for 2024 and allow us to build a sustainable future.

We have continued to receive funding for key staff from the Restoration Trust, The Heritage Lottery Fund, the Bishops Transformation Fund and have secured a further £60,000 over five years from the Boston Municipal Non Educational Charities to help cover the slary of the Director of Music.

Reserves Policy

It is the policy of the PCC that it will hold in unrestricted reserves the equivalent of half year's Diocesan Quota plus six months costs of insurance, utilities and salary costs, which for 2023 was approximately £120,000.

Following the injection of the £151,000 "restore reserves" funding from the Cultural Recovery Fund in 2021 the PCC continues to hold sufficient unrestricted reserves to cover this policy requirement.

Total closing reserves as at 31st December 2023 were £648,372 comprising of carried forward unrestricted funds of £150,456 plus carried forward restricted funds of £403,835 and endowment funds of £94,081.

Investment Policy

The investment objective set by the PCC is for the Investment Manager to invest in low risk areas in order to safeguard the initial capital invested. The Trustees are willing to accept levels of return commensurate with a low risk strategy.

The majority of the PCC's investments are maintained by the Lincoln Diocesan Trust Board of Finance and are held within low risk CCLA accounts.

Volunteers

The PCC continues to be grateful for the support of our volunteers who play a very important role across the PCC from the Board of Trustees, gift shop and coffee shop assistants, fundraisers and general volunteer workers and assistants to the PCC.

Plans For The Future

Visitor numbers have continued to recovered well since the impact of COVID-19 at the start of 2021, using the strong gifts and talents of our leadership team the PCC have completed the Inspire and Library projects and our aim in 2024 is to complete Lighting Project whilst continuing the "Open Door" project.

The hope is that these plans will help the PCC further achieve it's current and long-term objectives as follows:

The Open Door Project

The aim is to develop our ministry of hospitality and welcome and to raise the funds needed to keep our doors - Worship, prayer, discipleship and pastural care to love God with all our mind, body and strength and to love our neighbour as ourselves.

Page 4

PCC of the Parish of Boston

Annual Report

for the year ended 31st December 2023

Inspire Project:

Library Lighting

The wish is to upgrade and redesign the lighting of St Botolph's Church interior and exterior to enhance this architectural, educational and cultural asset for the town.

This will bring benefits in both economic savings and enhanced visitor attraction. It will bring reduced long-term maintenance and energy running costs within a practical and architecturally sympathetic lighting scheme.

The project aims to turn what is the largest covered venue into a flexible space that is designed to accommodate a wide range of events and activities and that will draw both audiences and performers from across the world. It will provide the opportunity to become a place of integration for all people, regardless of background, culture, age or religious affiliation. In addition to this it will also ensure the churches legacy of financial sustainability and resilience for generations to come within the present intensely challenging economic environment.

The new lighting scheme will also drastically reduce both maintenance and energy costs, which is part of our long term commitment towards being carbon neutral by 2030.

Community Garden

The garden is located at the rear of the old Rectory in what is now the Foodbank. The vision is to have different areas of the garden to reflect differing needs. So, for example, one corner will be an area mainly geared towards children, with a playhouse, blackboards and a stepping stone trail, another area designed to be more of a quiet, peaceful area where you can sit quietly and enjoy the garden. There will be raised beds for growing vegetables and flowers that will be fully accessible to all, as well as a greenhouse, potting shed and compost bins and a sensory area.

There will be seating designed to fit around a wonderful old tree in the middle of the garden, and a new access will be made at the side of the garden, to include a covered seating area.

Other charitable agencies have helped with the project, as well as local Scouting groups, all on a voluntary basis. The project has received funding from the Medlock Trust.

Auditors

It is proposed that Moore Thompson be re-appointed as auditors for the next financial year - to be ratified at the ……................ Annual General Meeting.

Page 5

PCC of the Parish of Boston

Annual Report

for the year ended 31st December 2023

Trustees Responsibilities Statement

The trustees are responsible for preparing the trustees report and the financial statements in accordance with applicable laws and regulations.

The Trustees are required to prepare financial statements for each financial year. 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 Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the PCC and the surplus or deficit of the PCC for that period.

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

The Trustees are responsibly for keeping adequate accounting records that are sufficient to show and explain the PCC’s transactions and disclose with reasonable accuracy at any time the financial position of the PCC and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the PCC and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the board of Trustees on …................. and signed on behalf of the board by:

…................................. Mr. Graham Stewart Smith Trustee

Page 6

Independent Auditor's Report to the Trustees of

PCC of the Parish of Boston

for the year ended 31st December 2023

Opinion

We have audited the financial statements of the Parochial Church Council of the Parish of Boston (the ‘PCC’) for the year ended 31st December 2023, which comprise of the Statement of Financial Activity, Statement of Financial Position, Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertanties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 7

Independent Auditor's Report to the Trustees of

PCC of the Parish of Boston

for the year ended 31st December 2023

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in lines with our responsibilities, outlined above, to detect material mistatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material mistatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

Page 8

Independent Auditor's Report to the Trustees of

PCC of the Parish of Boston

for the year ended 31st December 2023

We assessed the susceptability of the charity's financial statements to material mistatement, including obtaining an understanding of how fraud might occur, by;

To address the risk of fraud through management bias and override of controls, we:

Because of the inherent limitations of this audit, there is a risk that we will not detect all irregularities, including those leading to a material mistatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occuring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Page 9

Independent Auditor's Report to the Trustees of

PCC of the Parish of Boston

for the year ended 31st December 2023

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Moore Thompson Chartered Accountants, Statutory Auditor Bank House Broad Street Spalding PE11 1TB

Dated:

Moore Thompson is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

Page 10

PCC of the Parish of Boston

Statement of Financial Activity

for the year ended 31st December 2023

Notes
Unrestricted
funds
£
Income from:
Donations and legacies
94,283
Grants
-
Charitable activities
106,953
Trading activities
40,902
Investments
12,998
Other
21,809
Total incoming resources
2
276,945
Expenditure on:
Raising funds
3,697
Charitable activities
333,902
Total expended resources
3
337,599
Net gains / (losses) on investments
(1,716)
(1,716)
Net (expenditure) / income
(62,370)
Net movement in funds
(62,370)
Transfers between funds
12
3,304
Net movement in funds
(59,066)
Reconciliation of funds:
Total funds brought forward
17
209,522
Total funds carried forward
12
150,456		 Restricted
Endowment
funds
funds
£
15,000
-
186,784
-
-
-
37,004
-
1,294
2,581
-
-
240,082
2,581
-
-
369,558
-
369,558
-
4,071
7,990
4,071
7,990
(125,405)
10,571
(125,405)
10,571
(724)
(2,580)
(126,129)
7,991
529,964
86,090
403,835
94,081
2023		 Total
£
109,283
186,784
106,953
77,906
16,873
21,809
519,608
3,697
703,460
707,157
10,345
10,345
(177,204)
(177,204)
-
(177,204)
825,576
648,372		 2022
Total
£
153,950
1,374,515
87,541
36,613
10,536
16,692
1,679,847
3,940
1,557,384
1,561,324
(25,250)
(25,250)
93,273
93,273
-
93,273
732,303
825,576

All income and expenditure derive from continuing activities.

The statement of financial activities includes all gains and losses recognised during the year.

The notes on pages 14 to 32 form part of these financial statements

Page 11

PCC of the Parish of Boston

Statement of Financial Position

at 31st December 2023

NoteUnrestricted
Funds
£
Fixed assets
Tangible assets
6
77,525
Heritage assets
7
13,000
Investments
8
57,910
148,435
Current assets
Stock
2,057
Debtors and prepayments
9
22,842
Cash at bank and in hand
10
29,958
54,857
Amounts falling due within one
11
(52,837)
Net current assets
2,020
Total assets less current liabilities
150,455
Net Assets
150,455
Charity Funds
12
Unrestricted
150,456
Restricted
-
Endowment
-
150,456
Creditors:		 Restricted
Endowment
Funds
Funds
£
£
35,133
-
-
-
47,336
94,081
82,469
94,081
-
-
-
-
324,674
-
324,674
-
(3,307)
-
321,367
-
403,836
94,081
403,836
94,081
-
-
403,835
-
-
94,081
403,835
94,081
2023		 Total
£
112,658
13,000
199,327
324,985
2,057
22,842
354,632
379,531
(56,144)
323,387
648,372
648,372
150,456
403,835
94,081
648,372		 2022
Total
£
125,377
13,000
188,981
327,358
1,494
107,847
495,782
605,123
(106,905)
498,218
825,576
825,576
209,522
529,964
86,090
825,576

These financial statements were approved by the Trustees on …................... and are signed on their behalf by:

…...................................... ….................................... Rev. Sally Clifton Graham Stewart Smith Trustee Trustee Date: Date:

Pages 14 to 32 form part of these financial statements

Page 12

PCC of the Parish of Boston

Statement of Cash Flows

at 31st December 2023

2023 2022
Note £ £ £ £
Cash flow from operating activities
Surplus/(Deficit) for the year (177,204) 93,273
Adjustments for:
Interest and dividends received (16,873) (10,536)
Depreciation of tangible fixed assets 4 12,719 16,959
(Gain)/losses on investments (10,345) 25,250
Movements in working capital:
(Increase)/Decrease in debtors 84,442 (96,383)
(Decrease)/Increase in creditors (50,761) 11,578
(158,022) 40,141
Cash flows from investing activities
Purchase of tangible fixed assets - -
Interest received 3 16,873 10,536
16,873 10,536
Net increase in cash and cash equivalents (141,149) 50,677
Cash and cash equivalents at beginning of year 495,782 445,104
Cash and cash equivalents at end of year 11 354,632 495,782
Cash and cash equivalents consists of:
Cash at bank and in hand 11 354,632 495,782

Page 13

PCC of the Parish of Boston

Notes to the Financial Statements

for the year ended 31st December 2023

1. Accounting policies

The address of the registered office is 1 Wormgate, Boston, Lincolnshire, PE21 6NP.

The nature of the charity's operations and principal activities is the provision of the Church of England religious services to the community within its parish boundaries.

Statement of compliance and basis of preparation

The financial statements have been prepared in accordance with:

• Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing the accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (issued October 2019)).

The charity meets the definition of a public benefit entity under FRS 102.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

For grants to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the grant and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report.

Where practicable, gifts in kind donated for distribution to the beneficiaries of the charity are included in stock and donations in the financial statements upon receipt. If it is impracticable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits, then the fair value is recognised as a component of donations when it is distributed and an equivalent amount recognised as charitable expenditure.

Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset.

Page 14

PCC of the Parish of Boston

Notes to the Financial Statements (continued)

for the year ended 31st December 2023

1. Accounting policies (continued)

Income recognition (continued)

For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.

Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

Support cost allocation

Charitable expenditure comprises those costs incurred by the charity in the delivery of it's activities and services for its beneficiaries.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.

Support costs include all those overhead costs for utility services, and other services and costs, which are in support of the activity. They have been allocated to activity cost categories on a basis consistent with the use of resources.

Leases

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

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Page 15

PCC of the Parish of Boston

Notes to the Financial Statements (continued)

for the year ended 31st December 2023

1. Accounting policies (continued)

Tangible fixed assets

All tangible fixed assets are initially recorded at cost.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the

Memorial Hall Straight line over 50 years Memorial Hall contents Straight line over 10 years IT equipment 25% reducing balance Fixtures and fittings 25% reducing balance

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such an indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Heritage assets

Heritage assets are recognised on the balance sheet and initially measured at cost when purchased or if donated, their valuation. Assets are subsequently stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Fair values for donated assets are estimated by reference to market prices.

Where information on the cost or valuation of heritage assets is not available or the cost of providing such information significantly outweighs any benefit to the users of the accounts then heritage assets are not recognised on the balance sheet.

These assets only arise when donated to the charity or, if on acquisition, it is believed that they will further the charity’s objectives. Once acquired they will be preserved by the charity in order to keep their historical, artistic, scientific, technological, geophysical or environmental qualities to such a high level as to contribute to knowledge and culture. Heritage assets are to be held for the foreseeable future.

Depreciation is calculated so as to write off the cost of a heritage asset, less its estimated residual value, over the useful economic life of that heritage asset as follows:

Hand bells Straight line over 50 years Grand piano Straight line over 50 years

Fixed asset investments

Investmentments are a form of basic financial instrument. Fixed asset investments are initially recognised at their transaction value and are subsequently measured at their fair value (market value) as at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year. Quoted stocks and shares are included in the Balance Sheet at the current market value quoted by the investment analyst, excluding dividend. Other investments are included at the trustee's best estimate of market value.

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk can be found in the Trustees Report (page 4).

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Page 16

PCC of the Parish of Boston

Notes to the Financial Statements (continued)

for the year ended 31st December 2023

1. Accounting policies (continued)

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Endowment funds represent those assets which must be held permanently by the Charity, these are principally by investments. Any capital gains or losses arising on the investments fall to be treated as part of the fund of which they form part of. Endowment fund income can be used in furtherence of the general objectives of the Charity and is included as unrestricted income.

Employee benefits

The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

Provisions

Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Page 17

PCC of the Parish of Boston

Notes to the Financial Statements (continued)

for the year ended 31st December 2023

**2. ** Analysis of income
2023
Unrestricted
Funds
Donations and Legacies
£
Gift Aid
24,491
Collections
7,893
Giving - Boxes & votive stands
20,866
Gift Aid recovered
15,505
Donations
5,553
Donations - Lego project
7,476
Donations - Stump Souvenirs Ltd
12,499
Legacies
-
94,283
Grants
Heritage Lottery Fund projects
-
Other project grants
-
Inspire Project
-
Library Project
-
-
Charitable Activities
Fees for weddings and funerals
6,564
Hall lettings
2,525
Coffee shop - sales
38,857
Coffee shop - recharged costs
2,717
Church lettings
37,561
Guided tours / tower admissions
16,055
Miscellaneous
2,674
106,953
Trading Activities
Fundraising
-
Floodlights
4,395
Bells
60
Blenkin Memorial Hall - Hire
2,438
Music and children
4,986
Music director tuition
29,023
Foodbank
-
40,902
Investment Income
Rent
3,429
Bank interest
8,172
Dividends
1,397
12,998
Other income
St Thomas' PCC incomeNote 16
21,809
21,809
276,945		 Unrestricted
Funds
£
24,491
7,893
20,866
15,505
5,553
7,476
12,499
-		 Restricted
Endowment
Funds
Funds
£
£
-
-
-
-
-
-
-
-
15,000
-
-
-
-
-
-
-
2023		 Restricted
Endowment
Funds
Funds
£
£
-
-
-
-
-
-
-
-
15,000
-
-
-
-
-
-
-
2023		 Total

£
24,491
7,893
20,866
15,505
20,553
7,476
12,499
-		 2022
Total
£
29,744
4,710
21,160
11,287
55,247
8,781
7,685
15,336
94,283 15,000 - 109,283 153,950
-
-
-
-		 -
74,693
19,535
92,556		 -
-
-
-		 -
74,693
19,535
92,556		 127,733
66,661
1,087,980
92,141
- 186,784 - 186,784 1,374,515
6,564
2,525
38,857
2,717
37,561
16,055
2,674		 -
-
-
-
-
-
-		 -
-
-
-
-
-
-		 6,564
2,525
38,857
2,717
37,561
16,055
2,674		 11,700
819
26,488
10,868
20,876
15,571
1,219
106,953 - - 106,953 87,541
-
4,395
60
2,438
4,986
29,023
-		 -
-
-
-
-
-
37,004		 -
-
-
-
-
-
-		 -
4,395
60
2,438
4,986
29,023
37,004		 3,100
5,583
25
-
2,568
348
24,989
40,902 37,004 - 77,906 36,613
3,429
8,172
1,397		 -
-
1,294		 -
-
2,581		 3,429
8,172
5,272		 1,650
2,230
6,656
12,998 1,294 2,581 16,873 10,536
- - 21,809 16,692
21,809 - - 21,809 16,692
276,945 240,082 2,581 519,608 1,679,847

Page 18

PCC of the Parish of Boston

Notes to the Financial Statements (continued)

for the year ended 31st December 2023

**3. ** Analysis of Expenditure
2023
Raising funds
Events
Charitable activites
Diocesan quota
Wages
Note 3a
Coffee shop expenses
Insurance
Organ tuning
Organist fees
Music and choir costs
Candles and Oil
Church repairs and maintenance
Inspire project repairs
Note 3b
Cleaning
Office costs
Administration
Information technology costs
Miscellaneous expenses
Library - Restoration costs
Note 3c
Church and hall electric
Memorial hall overheads
Delivery Stage (HLF)
Donations
Marketing
Accountancy
Audit
Foodbank - Running costs
Foodbank - Outside adviser costs
Depreciation charges
St Thomas' expenditure
Note 16
St Christophers' church repairs and maintenance		 Unrestricted
Funds
£		 Restricted
Funds
£
2023		 Total
£		 2022
Total
£
3,697 - 3,697 3,940
72,000
45,154
19,831
36,424
1,990
3,564
1,672
4,186
4,890
-
2,892
5,729
6,527
3,110
7,472
-
81,474
5,067
-
-
934
6,230
3,520
-
-
1,008
20,228
-		 -
87,826
9,840
-
-
-
-
-
8,595
85,641
-
-
-
-
-
100,145
-
-
-
-
-
-
-
46,383
19,417
11,711
-		 72,000
132,980
29,671
36,424
1,990
3,564
1,672
4,186
13,485
85,641
2,892
5,729
6,527
3,110
7,472
100,145
81,474
5,067
-
-
934
6,230
3,520
46,383
19,417
12,719
20,228
-		 70,000
78,143
37,006
33,469
2,460
3,426
7,171
3,932
5,600
1,034,572
1,678
4,420
6,082
2,822
5,257
94,981
55,808
-
175
20,000
772
5,335
3,350
19,288
23,403
16,959
21,275
-
333,902 369,558 703,460 1,557,384
337,599 369,558 707,157 1,561,324

Page 19

PCC of the Parish of Boston

Notes to the Financial Statements (continued)

for the year ended 31st December 2023

3a. Analysis of restricted wages
HLF Project
Boston Foodbank
Bishops Transformation Fund re Music Director Wages
3b. Breakdown of Inspire project costs
Repair and conservation works
Professional fees
Equipment purchases
Administration costs
3c. Breakdown of Library restoration costs
Repair and conservation works
Professional fees
4. Employee Emoluments
Salaries (Inc. life insurance)
Social security costs
Pension costs
There are no employees who received emoluments exceeding £60,000
Average number of part-time employees during the year		 2023
£
31,919
33,619
22,288		 2022
£
32,313
17,711
7,496
87,826 57,520
2023
£
70,119
5,520
7,958
2,044		 2022
£
994,935
-
-
39,637
85,641 1,034,572
2023
£
98,662
1,483		 2022
£
89,963
5,018
100,145 94,981
2023
£
121,465
8,672
2,843		 2022
£
71,407
5,071
1,665
132,980 78,143
2023
8		 2022
6

5. Trustees remuneration and expenses

There were 2 trustees who received remuneration for the year ended 31st December 2023 (2022 - 2). However, this was in their capacity as employees of the charity and not as trustees.

No reimbursements were made to trustees for trustee work related expenses incurred during the year.

Page 20

PCC of the Parish of Boston

Notes to the Financial Statements (continued)

for the year ended 31st December 2023

6. Tangible fixed assets

Tangible fixed assets
Cost
Brought f/wd at 1st Jan 2023
Additions
Carried f/wd at 31st Dec 2023
Depreciation
Brought f/wd at 1st Jan 2023
Charge for the year
Carried f/wd at 31st Dec 2023
Net book value
At 31st Dec 2023
At 31st Dec 2022		 Memorial
Hall
£
80,000
-		 Memorial
Hall
contents
£
5,000
-		 Equipment
and IT
£
23,295
-		 Fixtures and
Fittings
Total
£
72,633
180,928
-
-
80,000 5,000 23,295 72,633 180,928
8,000
-		 2,500
-		 13,273
2,505		 31,778
10,214		 55,551
12,719
8,000 2,500 15,778 41,992 68,270
72,000 2,500 7,517 30,641 112,658
72,000 2,500 10,022 40,855 125,377

Within tangible fixed assets is £35,133 net book value of restricted fund assets (2022 = £46,844).

7. Heritage assets

Net book value
Brought f/wd and carried f/wd at 31st December 2023		 Hand bells
£
2,500		 Grand piano
£
10,500		 Total
£
13,000

The hand bells and grand piano have been considered by the trustees to have a useful life at 31st December 2023 in excess of 50 years and therefore have not been depreciated.

The charity also holds several other heritage assets including a brass eagle lecturn, 2 bishops chairs, 1,500 catalogued library books and other items with historical qualities that are held and maintained principally for their contribution to knowledge and culture. Due to information on the cost or valuation of these items not being available nor able to be obtained at a cost commensurate with the benefit to the users of the accounts and to the charity for its own stewardship purposes the assets are purely disclosed in the accounts with no values attributed to them.

Page 21

PCC of the Parish of Boston

Notes to the Financial Statements (continued)

for the year ended 31st December 2023

8. Investments

Units Held
Unit Cost
Unrestricted funds
Charinco investment fund
1637.00
10,690
Barclays Plc
23108.00
6,144
Restricted funds
St Botolph Church Fabric (Sayer) Bequest
2094.00
16,112
Endowment funds
Boston Chapel of Ease Trust
212.00
233
St Botolph Curates (Gee) Trust
2769.00
2,769
Parsonage HSE (Gee) Trust
362.00
288
Boston Middle Class Girls School (Gee) Trust
1157.00
1,157		 2023
£
23,491
34,419		 2022
£
24,056
35,570
57,910 59,626
47,336 43,265
4,792
54,951
8,183
26,155		 4,380
50,326
7,479
23,905
94,081 86,090
199,327 188,981

All of the above investments are held by the St. Botolphs branch of the PCC Parish of Boston and correctly split between, General, Restricted and Endowment funds.

The PCC Parish of Boston also owns land at Cowgate, Boston for which it receives rent of £3,429 per annum (2022 - £1,650). No value is included in these accounts in relation to this parcel of land.

9. Debtors

Debtors
Trade debtors
Amounts owed to unrestricted funds from
restricted funds
Stump Souvenirs Limited donation debtor		 Unrestricted
Funds
£
8,390
-
14,452		 Restricted
Funds
£
-
-
-
2023		 Total
£
8,390
-
14,452		 2022
Total
£
94,508
10,868
2,471
22,842 - 22,842 107,847

Page 22

PCC of the Parish of Boston

Notes to the Financial Statements (continued)

for the year ended 31st December 2023

10. Bank and cash

Bank and cash
Treasurers Account
Heritage Lottery Fund
St Botolphs Gift Aid Account
General Reserve Fund
Chancel Fund
Vicar and Church Wardens
Boston Chapel of Ease Trust
MSL Deposit Account
Petty Cash
St Thomas'
Current Account - St Thomas
St Thomas General Fund
St Thomas Designated Funds
Cash Account - St Thomas
St Christopher's
Deposit Account - St Christophers		 Unrestricted
Funds
£
(175,025)
-
-
160,024
691
4
875
9,644
200
10,075
9,153
6,690
31
7,596		 Restricted
Funds
£
248,633
54,116
21,925
-
-
-
-
-
-
-
-
-
-
-
2023		 Total
£
73,608
54,116
21,925
160,024
691
4
875
9,644
200
10,075
9,153
6,690
31
7,596		 2022
Total
£
220,182
53,644
26,887
153,003
661
4
719
9,239
200
9,189
8,751
6,396
31
6,876
29,958 324,674 354,632 495,782

11. Creditors: falling due within one year

Trade creditors
Other creditors
Amounts owed to unrestricted funds from
restricted funds
Accruals and deferred income		 Unrestricted
Funds
£
5,265
35,016
-
12,556		 Restricted
Funds
£
3,307
-
2023		 Total
£
8,572
35,016
-
12,556		 2022
Total
£
41,902
42,492
10,868
11,643
52,837 3,307 56,144 106,905

11a. Deferred income

Weddings Unrestricted
Funds
£
2,858		 Restricted
Funds
£
-
2023		 Total
£
2,858		 2022
Total
£
3,003
2,858 - 2,858 3,003

Page 23

PCC of the Parish of Boston

Notes to the Financial Statements (continued)

for the year ended 31st December 2023

**12. ** Funds
2023
At 1 Jan
2023
£
Unrestricted funds
General fund
209,522
Restricted funds
Heritage Lottery Fund
229,793
St Botolphs Church Fabric (Sayer)
Bequest Fund
48,174
Church Fabric Legacy Donations
116,799
Boston Foodbank
27,716
Inspire Project Fund
39,542
Bishop Social Justice Fund
4,670
Typmanum Repairs (St Thomas')
10,000
Library Project
30,152
Crisis Wellbeing Café
9,814
Bishops Transformation/Music
13,304
Directors Fund
529,964
Endowment funds
Boston Chapel of Ease Trust Fund
4,380
St Botolph Curates (Gee) Trust Fund
50,326
Parsonage HSE (Gee) Trust Fund
7,479
Boston Middle Class Girls School
(Gee) Trust Fund
23,905
86,090
Total funds
825,576
The funds are constituted as follows:
Unrestricted
Funds
£
Fixed assets
148,436
Stock
2,057
Debtors
22,842
Cash at bank and in hand
29,958
Creditors
(52,837)
150,456
-		 At 1 Jan
2023
£
209,522		 Incoming
Resources
£
276,945		 Outgoing
Resources
£
(339,315)		 Transfers
£
3,304		 At 31 Dec
2023
£
150,456
229,793
48,174
116,799
27,716
39,542
4,670
10,000
30,152
9,814
13,304		 -
1,294
-
110,947
19,535
-
-
92,556
750
15,000		 (45,830)
4,071
(8,595)
(99,419)
(85,641)
-
-
(100,145)
(9,840)
(20,088)		 -
-
-
-
-
-
-
-
(724)
-		 183,963
53,539
108,204
39,244
(26,564)
4,670
10,000
22,563
-
8,216
529,964 240,082 (365,487) (724) 403,835
543
6,134
929
2,965		 (131)
(1,509)
(225)
(715)		 4,792
54,951
8,183
26,155
86,090 10,571 - (2,580) 94,081
825,576 527,598 (704,802) - 648,372
Unrestricted
Funds
£
148,436
2,057
22,842
29,958
(52,837)		 Restricted
Funds
£
82,468
-
-
324,674
(3,307)		 Endowment
Funds
£
94,081
-
-
-
-
2023		 Total
£
324,985
2,057
22,842
354,632
(56,144)		 2022
Total
£
327,358
1,494
107,847
495,782
(106,905)
150,456 403,835 94,081 648,372 825,576
- - - - -

Page 24

PCC of the Parish of Boston

Notes to the Financial Statements (continued)

for the year ended 31st December 2023

13. Restricted funds

Heritage Lottery Fund - This fund is for the renovation work required to Boston Stump which completed in

St Botolph Church Fabric (Sayer) Bequest - A restricted investment fund where both the capital and income can only be expended for Church Fabric purposes.

Church Fabric (Legacy Donations) Fund - A fund of legacy donations received where the income can only be expended on Church Fabric purposes.

Boston Foodbank - This fund is for the running of the Boston Foodbank to help feed locals in crisis.

Inspire Project Fund - This fund is for the restoration, renovation and development work to the Blenkin Memorial Hall.

Bishops Social Justice Fund - Funds to be used as part of the Boston Parish Homeless Project.

Tympanum Repairs (St Thomas') Fund - This fund is for the restoration and clearning of the Tympanum at St Thomas'

Library Fund - This fund is for the restoration and conservation of the Medieval Library.

Crisis Wellbeing Café - This fund is for a project to be run in conjunction with the Lincolnshire Partnership Foundation Trust to combat loneliness and low level mental health issues within the community. The project ceased in 2023 with the small balance left on the fund transferred to unrestricted funds . Bishops Transformation/Music Directors Fund - This fund is to provide specific funding towards the cost of employing a full time Director of Music.

Endowment funds

Boston Chapel of Ease Trust - P ermanent endowment fund whereby the capital cannot be expended only the income can be spent.

St Botolph Curates (Gee) Trust - Permanent endowment fund whereby the capital cannot be expended only the income can be spent.

Parsonage HSE (Gee) Trust - Permanent endowment fund whereby the capital cannot be expended only the income can be spent.

Boston Middle Class Girls School (Gee) Trust - Permanent endowment fund whereby the capital cannot be expended only the income can be spent.

14. Operating leases

At 31 December the charity had total future minimum lease payments under non-cancellable operating leases as set out below:

Not more than one year
Later than one and not more than five years		 2023
£
1,253
-		 2022
£
2,263
1,253

Page 25

PCC of the Parish of Boston

Notes to the Financial Statements (continued)

for the year ended 31st December 2023

15. Related parties

During the year donations of £12,499 (2022 - £7,685) were received from the related company Stump Souvenirs Limited, the shareholders of which are the Churchwardens of the Parish of Boston PCC.

The charity is also associated with The Boston Stump Restoration Trust (Charity No. 507699) with the Rev. Slly Clifton sitting on The Trustees Board of both charities. The charities work closely together in relation to any renovation work required at The Parish Church of St Botolph, Boston.

During the year £Nil (2022 - £150,000) funds, set aside by The Boston Stump Restoration Trust to help fund the redevelopment of the Blenkin Memorial Hall by the PCC of the Parish of Boston, were paid over.

Also, as under the terms of the Trust Deed of The Boston Stump Restoration Trust, in 2023 the charity spent £26,226 (2022: £4,065) directly covering ongoing costs of repairs to the fabirc within the Boston Stump as part of the Parish of Boston PCC ongoing maintenance programme (2022: all costs paid directly towards repairs to the library within the Boston Stump as part of the Parish of Boston PCC library renovation project).

The trustees consider that there are no other related parties to the charity requiring disclosure.

Page 26

PCC of the Parish of Boston

Notes to the financial statements (continued)

for the year ended 31st December 2023

16. Detailed Income and Expenditure Account - St Thomas' Church PCC

Income from:
Donations and Gift Aid
Teas
Candles
Fundraising
Fees for funerals, baptisms and weddings
Church Hall
Miscellaneous
Interest
Total incoming resources
Expenditure on:
Parish Share
Licences
Heat, light and cleaning
Insurance
Repairs and maintenance
Music and choir costs
Total expended resources
Net (expenditure)/income
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total bank and cash balances b/fwd
Total bank and cash balances c/fwd
Note 10		 2023
Total
£
4,091
435
-
3,664
645
6,896
5,383
696
21,810
13,000
-
2,480
3,382
880
486
20,228
1,582
-
1,582
24,367
25,949		 2022
Total
£
5,869
451
290
2,721
1,082
4,869
1,213
197
16,692
14,000
170
2,756
2,954
1,395
-
21,275
(4,583)
-
(4,583)
28,950
24,367

Page 27

Pages 29 to 32 also form part of these financial statements

and show the comparative 2022 figures.

Page 28

PCC of the Parish of Boston

Notes to the Financial Statements (continued)

for the year ended 31st December 2023

17. Fund comparatives

Statement of Financial Activities

Income from:
Donations and legacies
Grants
Charitable activities
Trading activities
Investments
Other
Total incoming resources
Expenditure on:
Raising Funds
Charitable Activities
Total expended resources
Net gain / (losses) on investments
Net (expenditure) / income
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
113,150
-
87,541
11,624
6,683
16,692		 Restricted
funds
£
40,800
1,374,515
-
24,989
1,287
-
2022		 Endowment
funds
£
-
-
-
-
2,566
-		 Total
£
153,950
1,374,515
87,541
36,613
10,536
16,692
235,690 1,441,591 2,566 1,679,847
3,940
265,065		 -
1,292,319		 - 3,940
1,557,384
269,005 1,292,319 - 1,561,324
(8,083)
(41,398)
2,567		 (5,773)
143,499
-		 (11,394)
(8,828)
(2,567)		 (25,250)
93,273
-
(38,831)
248,353		 143,499
386,465		 (11,395)
97,485		 93,273
732,303
209,522 529,964 86,090 825,576

Page 29

PCC of the Parish of Boston

Notes to the Financial Statements (continued)

for the year ended 31st December 2023

17. Fund comparatives (continued)

Analysis of income
2022
Donations and Legacies
Gift Aid
Collections
Giving through boxes and votive stands
Gift Aid recovered
Donations
Donations - Lego project
Donations from Stump Souvenirs
Legacies
Grants
Heritage Lottery Funds
Other grants
Inspire Project
Library Project
Covid support grants
Charitable Activities
Fees for weddings and funerals
Hall lettings
Coffee shop sales
Coffee shop - recharged costs
Church lettings
Guided tours
Tower admissions
Miscellaneous
Trading Activities
Fundraising
Floodlights
Bells
Music tuition
Foodbank
Investment Income
Rent
Bank interest
Dividends
Other income
St Thomas' PCC Income		 Unrestricted
Funds
£
29,744
4,710
21,160
11,287
14,447
8,781
7,685
15,336		 Restricted
Funds
£
-
-
-
-
40,800
-
-
-		 Endowment
Funds
£
-
-
-
-
-
-
-
-		 Total
£
29,744
4,710
21,160
11,287
55,247
8,781
7,685
15,336
113,150 40,800 - 153,950
-
-
-
-
-		 127,733
66,661
1,087,980
92,141
-		 -
-
-
-
-		 127,733
66,661
1,087,980
92,141
-
- 1,374,515 - 1,374,515
11,700
819
26,488
10,868
20,876
766
14,805
1,219		 -
-
-
-
-
-
-		 -
-
-
-
-
-
-		 11,700
819
26,488
10,868
20,876
766
14,805
1,219
87,541 - - 87,541
3,100
5,583
25
2,916
-		 -
-
-
-
24,989		 -
-
-
-
-		 3,100
5,583
25
2,916
24,989
11,624 24,989 - 36,613
1,650
2,230
2,803		 -
-
1,287		 -
-
2,566		 1,650
2,230
6,656
6,683 1,287 2,566 10,536
16,692 - - 16,692
16,692 - - 16,692
235,690 1,441,591 2,566 1,679,847

Page 30

PCC of the Parish of Boston

Notes to the Financial Statements (continued)

for the year ended 31st December 2023

17. Fund comparatives (continued)

Analysis of Expenditure
2022
Raising funds
Events
Charitable activites
Diocesan quota
Wages
Coffee shop expenses
Insurance
Organ tuning
Organist fees
Music and choir costs
Candles and Oil
Church maintenance
Inspire project repairs
Cleaning
Office costs
Administration
Information technology costs
Miscellaneous expenses
Library
Church and hall electric
Delivery stage (HLF)
Donations
Marketing
Accountancy
Audit
Foodbank - Running costs
Foodbank - Finance advice costs
Depreciation charges
St Thomas expenditure
St Christopher refurbishment		 Unrestricted
Funds
£		 Restricted
Funds
£
2022		 Endowment
Funds
£		 Total
£
3,940 - - 3,940
70,000
20,623
15,727
33,469
2,460
3,426
7,171
3,932
114
-
1,678
4,420
6,082
2,822
5,257
-
55,808
-
-
772
5,335
3,350
-
-
1,344
21,275
-		 -
57,520
21,279
-
-
-
-
-
5,486
1,034,572
-
-
-
-
-
94,981
-
175
20,000
-
-
-
19,288
23,403
15,615
-
-		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 70,000
78,143
37,006
33,469
2,460
3,426
7,171
3,932
5,600
1,034,572
1,678
4,420
6,082
2,822
5,257
94,981
55,808
175
20,000
772
5,335
3,350
19,288
23,403
16,959
21,275
-
265,065 1,292,319 - 1,557,384
269,005 1,292,319 - 1,561,324

Page 31

PCC of the Parish of Boston

Notes to the Financial Statements (continued)

for the year ended 31st December 2023

17. Fund comparatives (continued)

Funds
2022
At 1 Jan
2022
£
Unrestricted funds
General fund
248,353
Restricted funds
Heritage Lottery Fund
150,163
St Botolphs Church Fabric (Sayer)
Bequest Fund
52,660
Church Fabric Legacy Donations
122,285
Boston Foodbank
2,561
Inspire Project Fund
(13,866)
Bishop Social Justice Fund
4,670
Typmanum Repairs (St Thomas')
10,000
Library Project
32,992
Crisis Wellbeing Café
25,000
Medlock Winter Grants
-
Bishops Transformation/Music
-
Directors Fund
386,465
Endowment funds
Boston Chapel of East Trust Fund
4,963
St Botolph Curates (Gee) Trust Fund
56,950
Parsonage HSE (Gee) Trust Fund
8,478
Boston Middle Class Girls School
(Gee) Trust Fund
27,094
97,485
Total funds
732,303		 At 1 Jan
2022
£
248,353		 Incoming
Resources
£
235,690		 Outgoing
Resources
£
(277,088)		 Transfers
£
2,567		 At 31 Dec
2022
£
209,522
150,163
52,660
122,285
2,561
(13,866)
4,670
10,000
32,992
25,000
-
-		 127,733
1,287
-
85,557
1,087,980
-
-
92,141
6,093
20,000
20,800		 (48,103)
(5,773)
(5,486)
(60,402)
(1,034,572)
-
-
(94,981)
(21,279)
(20,000)
(7,496)		 -
-
-
-
-
-
-
-
-
-
-		 229,793
48,174
116,799
27,716
39,542
4,670
10,000
30,152
9,814
-
13,304
386,465 1,441,591 (1,298,092) - 529,964
130
1,503
222
711		 (583)
(6,624)
(998)
(3,189)		 (130)
(1,503)
(223)
(711)		 4,380
50,326
7,479
23,905
97,485 2,566 (11,394) (2,567) 86,090
732,303 1,679,847 (1,586,574) - 825,576

The funds are constituted as follows:

Fixed assets
Stock
Debtors
Cash at bank and in hand
Creditors		 Unrestricted
Funds
£
151,159
1,494
15,568
128,533
(87,232)		 Restricted
Endowment
Funds
Funds
£
£
90,109
86,090
-
-
92,279
-
367,249
-
(19,673)
-
529,964
86,090
2022		 Restricted
Endowment
Funds
Funds
£
£
90,109
86,090
-
-
92,279
-
367,249
-
(19,673)
-
529,964
86,090
2022		 Total
£
327,358
1,494
107,847
495,782
(106,905)
209,522 529,964 86,090 825,576

Page 32