Charity number 1139018 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST.PAUL'S STOCKINGFORD TRUSTEES. ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
TRUSTEES, ANNUAL REPORT 2023 Report and kcounts for the Parochial Church Council of St Paul's Church, Stockingford Aim and purposes St Paul's Parochial Church Council (PCC) has the responsibility of cooperating with th8 incumbent. Reverend Kale Massey, in promoting in the eccleslastlcal parish. the whole mission of the Church. pastoral, evangelistic. social and ecumenical. The PCC is also specifically responsible for the malntenance of the Church buildings of St Paul's and the Parish C8ntre, Church Road, Stockingford. Objeetives and activitigs The PCC is committed to enabling as many people as possible to worship at our church and to become part of our parish community at St Paul's. The PCC maintains an overview of worship throughout the parish and makes suggestions on how services can involve the many groups that live within our parish. Our services and worship put faith inlo praclice through prayer and scripture, music and sacrament. When planning our activities for the year, we have considered the Commission's guidance on public benefil and, in particular. the supplementary guidan on charities for the advancement of religion. In particular. we try to enable ordinary people to live out their faith as part of our community through.. Worship and prayer,. leaming about the gospel., and developing their knoedge and trust in Jesus. Provision of pastoral care for poople living in the parish. Missionary and outreach wofk. To faGililate Ihis work it is important that we maintain the fabric of the Church of St Paul's and the Parish Cent. Achievements and performance Worship and prayer The PCC is keen to offer a range of seNices during the week and over the course of the year that our community find both beneficial and spiritually fulfilling. For example, pondering and prayers provide a quiet, intimate and reflective environment for worship while opportunities are provided for people to engage in more OLrtgoing worship such as messy Church. This year we have been successful in wel¢oming more people and families into our church. All are welcome to attend our regular services. At present there are 83 parishioners on the Church Electoral Roll, 37 of whom are not resident within the parish. As well as our regular services, we enable our community to celebrate and thank God at the milestones of their joumey through lrfe. Through baptism we thank God for the gift of life, in marriage public vows are exchanged with God's blessing and through funeral ServIS friends and family express their grief and give thanks for the lrfe which is now complete in this wodd and to commend the person into God's keeping. Page 1
TRUSTEES. ANNUAL REPORT 2023 Report and Accounts for the Parochial Church Council of st Paul's Church. Stockingford (Continued) Deanery Synod Three members of the PCC sit on the deanery synrKJ, This provides the PCC with an important link beeen the parish and the wider stnjctures of the Church. Church Bulldings and the Parish Centre During the wegk and the year the chur¢h is used by various groups such as Stay and Play which is for young children and their parents, youth groups, lunch ciubs. theatre group drama, brownies and guides. Pastoral Care Some members of our partsh are unable to attend church due to sickness or age. Arrangements are made to visit church mernbers who have requested lo receive communion at their homes. The pastoral care group organise visits and prayers for those who are sick or unable to get out for any other reason to keep them in touch church life. Mission and evangelism Helping Ihose in need is a demonstration of our faith. Thanks to the generosity of our congregation we raised £450 for the Earthquake Appeal in support of Turkey and Syria, £1.589.00 for Red Cross, £246.15 for Love The Ford, £862.50 for Open Doors and £1,080.73 for Christian Aid {we also support Christian Aid week by making direct contributions). We also host a food bank, oasis group. monthly lunch club for the eldedy. During the year we obtained funding to employ a growing faith family link worker. Our newsletter is produced weekly, and the newsletter keeps our parishioners infomied of the important matters affecting our Church and articles that help develop our knowledge and trust in JesLtS. Financial revlew Totsl receipts on unrestricted funds were £89,132.85 of which £45,405.01 was unrestrtcted planned voluntary donations, and a further £14,814.23 was from Gift d. Designated funds were £5,766.44 of which £4.300.00 was planned volunlary donations and a further £852.50 was from GiftAid. The planned giving through envelopes and banke¢s orders increased by 7.78°A12022 0.1 ¥0 - increase} £81.458.02 was spent from unrestricted funds to provide the Christian ministry from St Paul's, including the contiibution to the di0$an parish share that increased by 3.9 /0 in the year and largely provides the stipends, training housing for the clergy. Net movement in funds on unrestricted funds was £7,674.83 and the tolal fund balances during the year increased from £96,748.20 to £106.245.36 of which £74,736.82 is unrestricted. Page 2
TRUSTEES. ANNUAL REPORT 2023 Report and Accounts for the Parochial Church Council of St Paul's Church, Stockingford (Continued) Reserves Pollcy 11 is PCC FKJlicy lo try and maintain a balance on free reserves Inel Current assets} which equates to at least nine months. unrestricted payments. This is equivalent to £61,093. It is held lo smooth out flu¢luations in cash flow and to meet emergenryes. The balance of the free reseNes at the end of the year was £74,737 which is higher than this target. This policy will be reviewed in twelve months time. The cash balance of £28.289.04 in the fabric designated fund is retained towards meeting future repair costs of the church buildings. It is our poliw to invest our funds wth the CCLA Chur¢h of England Deposit Fund. Volunteérs We would like to thank all the volunteers who wo¥k so hard lo make our church the lively and vibrant tx)mmunity it is. Risk management The PCC is aware of its risk management dLrties and has affirmed a number of policies, induding the Notes of Guidan for PCC meetings and PCC responsibilities and Safeguarding. During the year a conflicts of interest policy and a safe use of images was adopted and the PCC agreed the delegation of serious incident reporting to the charity commission. These risks are regularly reviewed and systems and procedures have been put in place to manage these risks. The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline measure 2016 (duty lo have due regard to House of Bishops, guidance on safeguarding children and vulnerable adults). All our trustees and youth and children's leaders are DBS IDisclosure and Barring Service) hecked, as are those whose volunteering brings them into contact wth vulnerable adults. Our fire risk assessment, policies and fire safety equipment are kept up to date. The PCC approved a privacy policy and our data holding procedures were evaluated and amended where necessary to meèt the General Data Protection Regulation 2018. Structures, governanca and management The Parochial Church Council is a corporate body established by the Church of England. The PCC operates under the Parochiai Church Council Powers Measure. The PCC is a Registered Charity. The method of appointment of PCC members is set out in the Church Representstion Rules. At St Paul's the membership of the PCC consists of the incumbent {our vicar). the curate, churchwardens and members elected by those members of the congregation who are on the electoral roll of the church. All those who attend our serviceslmembers of the congregation are are encouraged to wister on the Ele¢toral Roll and stand for eleetion to the PCC. The PCC members are responsible for making decisions on all matters of general concem and importance to the parish including deciding on how frjnds of the PCC are lo be spent. The PCC met throughout the year wlh an average attendance of 850A. Giving ils wde responsibilities the PCC has a number of sub- commtttees each dealing with a particular aspect of parish lifg. These committees, which induée worship and spirituality, social, buildings and finance and pastoral care, a all responsible to the PCC and report back lo it regularly with minutes of Iheir decisions being re1Ve by the full PCC and discussed as necessary. Page 3
TRUSTEES. ANNUAL REPORT 2023 Report and A¢¢ounts for the Parochial Church Council of Sl Paul's Church. Stockingford Iconlirtuedl Administrative infomation St Paul's Church is situated in Church Road. Stockingford, Nuneaton.11 is part of the Diocese of Coventy within the Church of England. The corresponden address is the Vicarage, 90 Church Road, Nunealon. Registered charity number 1139018. PCC members who have served at any time from 1 January 2023 until the date of this report was approved are: Incumbent.. Reverend Kate Massey Wardens.. Mrs Susan West Mr Nigel Blease Elected members: Year elected Rob Jones Les Pipe Paul Wesl Andrew Godfrey Jane Udall Steve Marsden Ann Pipe Mary Stewart Kathryn Taylor Kim Fawcett 2023 2023 2023 2022 2022 2022 2022 2022 2022 2021 (Secretary) Co-opted members Gary King (Treasurer) 2023 Representstives on the Deanery Synod: David Spiers Rob Jones Nigel Blease 2021 2021 2023 Approved by the PCC on 17 March 2024 and signed on their behalf by the Reverend Kate Massey PCC Chairperson). Reverend Kate Massey Page 4
ST PAUL'S CHURCH STOCKINGFORD STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 310ECEMBER 2023 Unrastrictsd Funds Designated Fund RestriGted Funds Total 2023 Total 2022 No INCOMING RESOURCES Voluntsry income: Envelopes including standing orders Loose collections Card machine Weddings, baptisms & funerals Gift Tax Rebate Donations & special collections 45,405.01 949.35 921.07 838.78 14,814.23 6,043.18 68,971.62 4,300.00 49,705.01 949.35 921.07 838.78 15,666.73 6,043.18 74,124.12 46.116.38 1,188.77 444.46 492.46 14,052.21 5,978.76 68,273.04 852.50 5.152.50 Activities for generating funds: Bazaars & fetes Cenlre & sundry incorr 5,304.18 2,761.18 8,065.36 5.304.18 2,761.18 8.065.36 4,647.57 1,575.36 6.222.93 Income from invgstment5 Inveslm8nt income Bank interest 1.485.17 1,485.17 613.94 2,099.11 601.58 54.20 655.78 613.94 613.94 1,485.17 Income from church actNitias Fees to PCC Church hall & parish centre lettings 5.326.00 3.814.70 9.140.70 5,326.00 3.814.70 9.140.70 7,663.12 3,085.00 10,748.12 Other incomlng resources Grants 1.470.00 1,470.00 1.991.00 1,991.00 3.461.00 3.461.00 TOTAL INCOMING RESOURCES 89,132.85 5.766.44 1,991.00 96.890.29 85,899.87 RESOURCES EXPENDED ChL¢rch activities 2(al 81,458.02 3.674.11 1,991.00 87,123.13 111,412.02 Fund-raising trading costs 21bl 93.00 TOTAL RESOURCES EXPENDED 81,458.02 3.674.11 1,991.00 87,123.13 111,505_02 NET INCOMINGIIOUTGOINGI BEFORE OTHER GAINS AND LOSSES 7.674.83 2.092.33 9,767.16 {25,605.151 Total funds brought forward 67,061.99 29,416.21 96.478.20 122,083.35 Total funds carried forward 74,736.82 31,508.$4 106,245.36 96,478.20 The attachaj notes on pages 7 and 10 fom) part of these financial statements. Page 5
ST PAUL'S CHURCH STOCKINGFORD BAL4NCE SHEET AS AT 31 DECEMBER 2023 Unrestrlctod Funds Dèsi9nated Fund Restricted Funds Total 2023 Total 2022 FIXED ASSETS Tanglble 2.997.00 2,998.00 3,598.00 CURRENT ASS8 Debtors CCLA Investment Cash at bank and St) hand 4.037.25 47,825.67 23,227.24 222.50 4,259.75 47,825.67 59,344.28 2,115.92 46,340.50 46,265.22 28,289.04 7.828.00 75.090.16 28,511.54 7.828.00 111.429.70 94,721.64 LIABILrriES Creditors anUnts f811ing du8 within one year 354.34 7,828.00 8,182.34 1,841.44 NET CURRENT ASSETS 74,735.82 28.511.54 7,828.00 103.247.36 92,880.20 TOTAL NET AssErs 74,736.82 31,508.54 106,245.36 96,478.20 REPRESENTED BY: PARISH FUNDS Unrestricted 9(al 74.736.82 74,736.82 67,061.99 D8signsted 91al 31.508.54 31,508.54 29,416.21 Reststctsd 91bl 74.736.82 31,508.54 0.00 106,245.36 96,478.20 Approved by the ParcKhial Church Ceuncil on the 17 March 2024 arKI signed on its behf by Mrs Susan West Ichurchwardenl. Mr Nlgèl Blease Ichurchwardenl and Gary tfjng IPCC Treasurèr}. Mrs S West Mr N Blease Mr G King The attached on pages 7 and 10 fom part of th8s8 finanoal stalements. Pag8 6
ST PAUL'S CHURCH STOCKINGFORD FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DE BER 2023 NOTES TO THE FINANCIAL STATEMENTS ACCOUNTING POLICIES The ffnancial statements have been prepared under the Church Accounting Regulations 2006 in accordance with applicable accounting stsndards and the current Statement of Recommended Practice Accounting and Reporting by Charitles and applicable accounting standard FRS 102. The financial statements have been prepared under the historical cost convention. Thè finanryal stslements include all transactions, assets and liabilities for which th@ PCC is reswnsible in law. They do not include the accounts of church groups that owe their affiliation to another bo¢Jy. nor those that are infomial gatherings of church members. FUNDS Restricted funds represent donations or grdnts received for 8 specrfic object or invited by the PCC for a specific object or invited by the PCC for a specific object for which they were given. Any balance remainlng unspent at the end of each year must be carried fOard as a balance on that fund. The PCC does not usually invest separately for each frjnd. Where there is no separate investment, interest is apportioned to individual funds on an average balance basis. Designated funds represent sums sel asidg, Out of ordinary funds. for specific designated wrposes, whlch can b8 transferred back Snto general funds at any time. Unrestricted funds are general funds which can be used for PCC ordinary ptjrposes. INCOMING RESOURCES Planned gimng, colleclons and donations are recognised when received. Tax refunds are reeognised when the incoming resource to which they relate is eived. Grants and legacies are accounted for when the PCC is legally enb'tled to the amounts due. Divldends are accounted for when re1Vable. interest is acc¥ued. Ail other income is recognised when it is receivable. All incoming resources are accounted for gross. RESOURCES EXPENDED Grants and donations are accounted for when paid over. or when awarded, if that award creates a binding or constructive obligation on the PCC. Thg diocesan parish share is accounted for when due. Amounts received specrfically for mission are dealt with as restricted funds. All other expenditure is generally rgcognised when is it incurred and is aceounled for gross. FIXED ASSETS Consecrated and benefice property is not included in the accounts in accordance with s.9612llal of the Charities Act 1993. Movable church fumishings held by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the church's inventory. which Gan be inspected lat any reasonable timel. For anything awuired prior lo 2000 there is insufficient cost information available and therefore such assets are not valued in Ihe financial slalemehts. Subsequently no individual item has cost more than £1,000 so all such expenditure has been written off when incurred. Equipment used within the church premises is depcIated on a straight-line basis al the following rates=. Church Organ - Iwenty years Sound System Equipment- four years Ftxlures and fittings - four years Projection equipment- four years Altar fumiture- ten years Page 7
ST PAUL'S CHURCH STOCIQNGFORD FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS RESOURCES EXPENSED Unrestricted Funds Designated Fund Reslricled Funds Total 2023 Total 2022 21al Church activities Mlnlsty Diotssan Parrsh Share Faas to PCC 53,224.40 2,335.00 55,559.40 53.224.40 2,335.00 55.559.40 51,224.40 3,390.00 54.614.40 SaTViCa$ Clèrgy Eltrments Verg&rs Fees Otganist 290.36 460.50 455.00 160.00 1,365.86 290.36 460.50 455.00 160.00 1.365.86 934.23 402.87 415.00 80.00 1.752.10 ADMINISTRATION Administration Printing & Statlonery Telephone 267.40 335.98 947.23 1.550.61 267.40 335.98 947.23 1,550.61 181.00 225.77 764.36 1,171.13 MAINTENANCE Repairs & Maintenance Photi)copier maintenance 1,486.38 211.55 1,697.93 2.774.11 4,260.49 211.55 4,472.04 29,555.00 406.70 29,961.70 2,774.11 o.oo UTILITIES Insuran Gas Elèctrtc Wat6r C18aning 8nd wages 3.383.81 5.588.14 1.362.S7 78.03 3.610.44 14,022.99 3,383.81 5,588.14 1.362.57 78.03 3.610.44 14.022.99 3,092.05 5.394.50 1.890.36 46.35 3,046.83 13.470.09 MISCELLANEOUS Charitable donations Growing Faith equipment Grijwing Faith wage5 Messy Churth & Holiday Club Spogs Miscellaneous Pastoral Care Bank Chae$ Monthly Draw 4,288.38 504.98 717.78 4,288.38 504.98 2,708.78 6,472.31 1,991.00 169.69 1.619.43 911.15 136.24 233.78 300.00 9,842.60 1,030.53 212.75 506.81 1.030.53 212.75 506.81 300.00 9,552.23 300.00 300.00 7.261.23 1,991.00 Depreciation Church organ 600.00 600.00 600.00 600.00 600.00 600.00 0.00 81.458.02 3,674.11 1,991.00 87.123.13 111,412.02 2{b} Fund raising costs Bazaars 93.00 TOTAL RESOURCES EXPENDED 81,458.02 3,674.11 1.991.00 87,123.13 111,505.02 Page 8
ST PAUL'S CHURCH STOCKINGFORD FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS STAFF COSTS Unrestricled Funds Restricted Funds Total 2023 Total 2022 Wages and salaries 3.459.53 1,991.00 5,450.53 2,524.25 3,459.53 1991.00 5,450.53 2,524.25 During the year the PCC employed a cleaner and a growing faith family worker (all part-tim8} but no payments We large enough to attract social security costs in the year to 31 December 2023. PAYMENTS TO PCC MEMBERS No payments were made to PCC or associated wTrth the PCC and no other payments or expenses we paid to any PCC member, or persons dosely connected to them or related parties . TANGIBLE FIXED ASSETS Flxtures & Altar Projection Fittings Fumitur Organ Equipment (Unrestricted} (Designated) {Designatsd) {Designatedl Total Cost At 1 January2023 and at 31 December 2023 36,901.34 9.833.00 11,995.00 11.428.17 70,157.51 Depreciation At 1 January 2023 36.900.34 9,832.1)0 8,400.00 11,427.17 66,559.51 Provision in year 600.00 600.00 At 31 December 2023 36.900.34 9,832.00 9,000.00 11427.17 67,159.51 Net Book Value At 31 December 2023 1.00 1.00 2.995.00 1.00 2,998.00 At 31 December 2022 1.00 1.00 3.595.00 1.00 3,598.00 DEBTORS Unrestricted Funds Designated Fund Tolal 2023 Total 2022 Tax recoverable Other debtors Prepayments 3,737.25 300.00 222.50 3,959.75 300.00 1,668.75 447.17 2,115.92 4.037.25 222.50 4,259.75 Page 9
ST PAUL'S CHURCH TOCKINGFORD FINANCIAL STATEMENTS FOR THE YEAR ENDE 31 DECEMBER 2023 NOTES TO THE HNANCIAL STATEME INVESTMENTS Unrestricted Funds Designated Funds Rèstricted FLmds Total 2023 Total 2022 CCLA Dep05tt Account 47.825.67 47,825.67 46,340.50 The above investment is hèld wth CCLA Investment Managgmenl Limited on behatf of St Paul's Church, StOcngfOrd, P8rcchsal Church Council. CASH AND BAJIK BALANCES Unrestrict¢d Fund5 Destgnated Funds Restricted FLJnds Tot81 2023 Total 2022 Cash In hand Yorkshire bank current account Yorkshire bank fabric 8ccounl 10.00 23.217.24 10.00 31,045.24 28.289.04 14.07 20,556.94 25,694.21 7,828.00 28,289.04 23,227.24 28.289.04 7.828.00 59,344.28 46,265.22 LIA81UTIES Unrestricted Funds Designated Fur$ Resthcted Funds Total 2023 Total 2022 Amounts falling (Iu9 Wthin one year Other Creditws Accrued incorne A(xr*Jals for utllity and other wsts 13.34 13.34 7,828.00 341.00 297.00 7,828.00 341.00 1.544.44 354.34 7.828.00 8,182.34 1,841.44 91a} FUNDS The movamenl in unrestricted arby designat fund5 during the year were.. DeSjnated funds D85tgnaied Funds (Building) Unrestricted Funds Bdan¢e at 1 January 2023 29,418.21 67.061.99 R9ceipts 5,766.44 89,132.85 35,182.65 156.194.84 Payments 3.674.11 81.458.02 Balancè at 310ecember 2023 31,508.54 74,736.82 The building Ifabricl fund represents acctEmutate(I donations and appeals for the maintenance of the church buildings. 9(b) The movement in restricted fijnds during the year we. BalB Receipts Payments Bal Cmwd Restricted Funds Coventy Diocesan Mission Fund 1,991.00 11,991.001 The rgstricted funds comprise grants received from Coventry Diotssan Mission Fund whid) is used to support a growing fa'th family link workei in tt)e Iccal community. Pag8 10
Independent examinerfs report to the PCC of St. Paul's, Stockingford I report on the accounts for the year ended 31st December 2023 which are set out on pages 5t010. Respective responsibilities of the Tnjstees and Examiner The church's Iruslees are responsible ft)rlhe preparation of the acunts. The church's trustees Consider that an audit is not required for this year under section 144(21 of the Charities Act 2011 Ilhe 2011 Act} and that an indepenéent examination is needed. 11 is my responsibility to Examine the accounts under section 145 of the 2011 Act.. 12) To follow the pro¢edyffts laid down in the General Directions given by the Charity Commissionèrs s8¢tion 14515)Ibl of the 2011 Act. and {3} To stste whether particular matters have come to rny attenliDn. Basis of Independent Examinerfs Ststement My examination was carried out in accordan with the General Directions gÈv@n by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a cornparison of the accounts presented with those records.11 also indudes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees conceming such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequenfjy no opinion is given as to whether the accounts present a'true and fair view, and the report is limited to those matters set out in the statement below. Independent examinerfs statement In connection wilh my examination, m matters have come to my attentton.. {1} which glves me reasonable cause to believe that in any material respect the requirements to keep aUntIng records in accordance wkh section 130 of the 2011 Act.. and to prepare accounts which accord with the accounting records and compty with the accounting requirements of the 2011 Act have not bèen met., or 121 to which, in my opinion, attention should be drawn in order lo enable a proper understanding of the accounts to be reached. ohal We CV3 ds 17th March 2024 Page11