PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023
2023
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF OLD FELIXSTOWE
CHARITY REGISTERED No. 1141751
TRUSTEES’ ANNUAL REPORT
&
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31st DECEMBER 2023
Page 1 of 23
PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023
| Contents | Page |
|---|---|
| Reference and administratve details | 3 |
| Trustees' Report | 4-8 |
| Statement of Members Responsibilites | 9 |
| Independent Examiners' Report | 10 |
| Statement of Financial Actvites | 11 |
| Balance Sheet | 12 |
| Statements of Assets & Liabilites | 13 |
| Fund Movement by Type | 14 |
| Analysis of Income & Expenditure | 15-16 |
| Notes to the Financial Statements | 17-23 |
Page 2 of 23
PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023
NAME: The Parochial Church Council of the Ecclesiastical Parish of Old Felixstowe.
OTHER NAMES: Old Felixstowe, Saints Peter & Paul with Saint Andrew and Saint Nicholas and Parish of Old Felixstowe
| REGISTERED CHARITY NUMBER: | 1141751 | ||
|---|---|---|---|
| PARISH OFFICE: | Old Felixstowe Parish | Ofce, | |
| Saint Andrew’s Church, | |||
| Saint Andrew’s Road, | |||
| Felixstowe, | |||
| Sufolk. | |||
| IP11 7EB | |||
| BANKERS: | Barclays Bank PLC | ||
| CCLA, CBF Church of England Deposit Fund | |||
| INDEPENDENT EXAMINER: | Mrs. H. Rumsey FCA of | ||
| Ensors Accountants LLP | |||
| TRUSTEES | |||
| Name | Ofce | Served | |
| From | To | ||
| Rev. C. A. Hood | Chairman | All year | |
| Mrs. J.R. Jones | Churchwarden | All year | |
| Mr. S. C. Rogers | Churchwarden | All year | |
| Mr. M.D.L. Van den Ende | Treasurer | All year | |
| Mr. R. Copestake | All year | ||
| Mr. R. A. Cornwell | All year | ||
| Mrs. R.L. Cornwell | All year | ||
| Mr. M Dean | All year | ||
| Rev E. Haggar | Jan 1st | 8thOct | |
| Mrs. J Macpherson |
All year | ||
| Mr. A. J. Peats | All year | ||
| Mrs. A. Smith | All year | ||
| Rev. D. White | All year | ||
| Mrs. G Hadwen |
Jan 1st | 23rdMay |
Page 3 of 23
PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2023.
The financial statements have been prepared in accordance with the accounting policies set out on pages 17 to 19 and comply with the Charities Act 2011 and ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
STRUCTURE, GOVERNANCE AND MANAGEMENT
This charity is governed and constituted under the laws applicable to parochial church councils within the Church of England, the Parochial Church Council Powers Measure.
The Parish of Old Felixstowe elects members to its church council (PCC) at an Annual Parochial General Meeting, and members of the PCC automatically become trustees. Anyone living in the parish and those whose names are on the electoral roll of the parish are eligible to attend and vote at that meeting.
The parish exists to promote Christianity, principally in Old Felixstowe, according to the rites and formularies of the Church of England.
The parish is constituted to provide regular, public services, principally on Sundays, and the occasional offices of baptism, matrimony and funeral, and provides buildings that are open to the public for the comfort of religion. These buildings are available to local organisations for events that benefit the local community. The parish also donates to other charities that provide services founded in Christianity to members of the public in the United Kingdom, locally and otherwise, and overseas.
AIM AND PURPOSE
The Parochial Church Council (PCC) of Old Felixstowe supported its Vicar, Rev. C.A. Hood, to provide the whole mission of the Church of England in northern and eastern Felixstowe. To help achieve this, it maintains and opens for public worship the church buildings of Saints Peter & Paul, in Church Road; its daughter church, St. Andrew, in St. Andrew’s Road and (the unconsecrated) St. Nicholas at Felixstowe Ferry. The PCC also maintains the Church Hall in St. Andrew’s Road, and has beneficial ownership of St. Andrew’s House, 10, Fleetwood Road, adjacent to the church.
OBJECTIVES
The PCC is committed to encouraging people to participate in worship at its three churches and thus become part of the church family. It caters for differing styles of worship and church fellowship within the parish by diverse services on Sundays and weekdays as well as the use of church buildings at other times by groups. The parish holds services for the whole parish alternating between Ss. Peter & Paul and St. Andrew and St. Nicholas during the summer months.
Page 4 of 23
PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023
PUBLIC BENEFIT
When planning its activities for the year, the PCC and Vicar have considered the Charity Commission’s guidance on public benefit and in particular the specific guidance to charities for the advancement of religion. In particular they have tried to enable ordinary people to live out their faith as part of this parish’s community through:
-
Worship and prayer; teaching the Gospel and developing the congregation’s knowledge of and trust in Jesus;
-
Pastoral care for those living in the parish;
-
Support of work amongst young people of both the parish and within the town of Felixstowe;
-
Support of outreach and missionary work
The Trustees consider that they are fulfilling the requirements to deliver a public benefit.
REVIEW OF THE YEAR
The parish has continued to hold and develop public services throughout 2023. We met each Sunday at 0930 and 1100, and at 0800 three times a month. Evening services were held once a month and through the summer these were held weekly at St Nicholas. Each congregation has a different style and structure that allows people to encounter God’s love and grace in a variety of forms.
We met in the church every Monday for Evening Prayer and on a Thursday for Morning Prayer. A Holy Communion Service is held weekly on a Wednesday. A monthly Theology book group met to explore a range of interesting and challenging books.
Our church buildings have been open for private prayer and public worship, as well as for funerals and baptisms.
They are also used by the wider community throughout the week. Groups meet for prayer and Bible Study, for craft and chat, for singing, signing and stories and the community Pop Up Shop continues to meet to support our community. St Peter and St Paul is the base for the new Parish Nursing ministry. Men’s breakfast is held monthly on a Saturday and is thriving.
Excellent contact with primary schools has been developed in the parish, providing assemblies, lessons both in school and church. We had the privilege of hosting Christmas services for the schools in the parish.
To further develop contact with families and children a weekly singing, signing and stories group has been established. It is aimed at preschool children and their carers where they can spend time together and develop relationships.
Page 5 of 23
PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023
In 2023 Parish Nursing was set up and established in the parish for the first time. A small group oversee the running and delivery of the service on a voluntary basis and report to the PCC. Support has been offered to those in the congregation and in the wider community. A further volunteer parish nurse joined the team towards the end of the year and a Parish Nurse assistant has been trained.
Home visiting has continued and elders are now involved in taking pre-consecrated Holy Communion monthly to those who can’t get to the church buildings. This has helped maintain contact and along with regular DVDs of services being produced and distributed sees the church seeking to reach out and keep in touch.
In the year Pub Theology was launched at the White Horse. This is an opportunity to explore a range of topics in a relaxed atmosphere over a drink. It has helped develop contact with the wider community and built relationships.
Rev Emma Haggar’s last service was on 8[th] October 2023 as she headed to her first incumbency post in Ipswich.
The church hall is used by a pre-school group throughout the year.
St Andrews house continues to be let out, managed by a local letting agent.
TRUSTEES
The Trustees of the charity are detailed on page 3 of this report.
TRUSTEES' RESPONSIBILITIES
The Charities Act requires the trustees to prepare financial statements for each financial period that give a true and fair view of the state of affairs of the charity at the end of the period and of the surplus or deficit for the period then ended.
In preparing those financial statements, the trustees are required to select suitable accounting policies, as described on page 17, and then apply them on a consistent basis, making judgments and estimates that are prudent and reasonable. The Trustees must also prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website.
Page 6 of 23
PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023
APPOINTMENT OF TRUSTEES
When a vacancy occurs for a trustee, the remaining trustees seek to appoint an individual with skills and experience, which they feel, will be of benefit to the charity.
On appointment, new trustees are given copies of the latest Annual Report and Accounts. There is no formal induction and training programme, but individual trustees attend seminars to update themselves when they feel it necessary.
MANAGING RISK
The Trustees have considered the major risks to which the church is exposed, and systems have been established to mitigate those risks. The implementation of these procedures minimises those risks. These procedures are regularly reviewed to ensure that they still meet the needs of the charity. In particular, to minimise any financial risks the trustees would seek reputable banks and other investment institutions into which they could place funds. The performance of their investment would then be reviewed.
RESERVES & INVESTMENT POLICY
The parish holds reserves in the form of Restricted, Endowment and Unrestricted funds.
A Reserves and Investment Policy has been developed to manage the financial assets of the parish. During the annual Financial Review, a balanced budget is set for the upcoming year, whereby any shortfall in predicted income vs predicted expenditure will be met by an allocation from carriedforward surplus assets. In addition, a Reserve of £36,000 will be allocated as contingency against unexpected higher costs as the budget is executed through the year. A formula for determining the Reserve is defined in the Policy. The Reserve will be held in a separate readily accessible financial account from that used for the parish’s day-to-day running. The balance of the surplus financial assets will be maintained as a mix of mid- and long-term investments, with the goal of producing capital growth and income, commensurate with minimising risk of capital loss.
EMPLOYMENT MATTERS
The trustees are responsible for the appointment of employees and other related staff matters, including determining salaries.
IMPACT OF COVID 19 PANDEMIC
The PCC has considered the effect of the ongoing covid pandemic on the church finances. In 2023 there were regular in church services, however the numbers attending were not at pre pandemic levels and many in the congregation continue to worship via the weekly online service. The level of regular financial giving has been maintained as the majority of the giving comes via standing orders.
Page 7 of 23
PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023
In 2023 the number of weddings and funerals increased as has the community use of the building with a subsequent increase in income from those sources.
There are more than 6 months running costs in the reserves at present and the PCC will keep the situation under review.
Financial position
A deficit of £38,054.10 arose in the year compared to a surplus of £249,156.16 for the previous year. Funds carried forward totalled £995,085.90 comprising unrestricted fund £364,508.62 (2022: £391,912.62), designated funds £493,120.65 (2022: £417,913.30), restricted funds £103,752.26 (2022: £104,609.71) and endowment fund £33,704.37 (2022: £30,343.50).
Going concern
The trustees have a reasonable expectation that the charity has adequate resources to continue operating for the foreseeable future.
Approved and signed by order of the Trustees.
C.A. HOOD VICAR Date 19 March 2024
Page 8 of 23
PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023
STATEMENT OF MEMBERS' RESPONSIBILITIES
These are set out in the Trustees Report on Page 6
STATEMENT REGARDING MEMBERS' BENEFITS
With the exception of those mentioned below no member of the Council nor any person connected to them benefited from any contract or work awarded or payment made by the Council during either year.
Clergy (trustees) received re-imbursement of £385.41 for out-of-pocket expenses incurred in their duties during 2023 (2022: £1,565).
A grant of £1,560 was made to a charity, of which Mr A Peats and Reverend Hood is also a trustee (2022: £1,510).
A grant of £1,560 was made to a charity, of which Reverend White is also a trustee (2022: £1,510)
The wife of a trustee manages the Parish Nursing service and provides nursing care. No remuneration is paid to her in that capacity.
STATEMENT REGARDING TRUSTEES' CONTRIBUTIONS
During 2023 the trustees donated £11,900 to the Parish of Old Felixstowe for the furtherance of its objectives. All of this was unrestricted in character. In 2022 the comparative values of gifts were £13,100.
STATEMENT REGARDING EMPLOYEE'S REMUNERATION
The PCC employed one person (not a Trustee) who earned a gross salary of £12,603.60. We are claiming the Employment Allowance and no employer’s National Insurance Contributions were paid.
(2022: £11,528 and no employer's NIC.)
£378.09 was paid for the benefit of the employee to a pension fund during the year (2022: £1,810 including £1,468 of arrears).
Employee benefits, therefore, did not exceed £60,000 during the year
STATEMENT REGARDING EX GRATIA AND HONORARIA PAYMENTS
Ex Gratia payments totalling £2,330 (2022: £1,820) were made to the Verger and Organist (non- PCC members) for their duties at Church Services.
STATEMENT REGARDING VOLUNTEERS
The charitable activities are mainly carried out by unpaid volunteers who cover various roles within the church.
Page 9 of 23
PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF OLD FELIXSTOWE SAINTS PETER & PAUL, SAINT ANDREW and SAINT NICHOLAS
I report to the Trustees on my examination of the accounts of the Parochial Church Council of the Parish of Old Felixstowe (the charity) for the year ended 31st December 2023.
RESPONSIBILITIES AND BASIS OF REPORT
As the trustees of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the "Act").
I report in respect of my examination of the charity's accounts carried out under section 145 of
the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145 (5) (b) of the Act.
INDEPENDENT EXAMINER'S STATEMENT
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a "true and fair" view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mrs. H. Rumsey FCA 21[st] March 2024 Ensors Accountants LLP Connexions 159 Princes Street IPSWICH IP1 1QJ
Page 10 of 23
PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023
Statement of Financial Activities
| Income and endowments Donatons and legacies Charitable actvites Other trading actvites Investments Other income Total income and endowments Expenditure on: Charitable actvites Other expenditure Total expenditure Net (expenditure)/income Transfers Gross transfers between funds - in Gross transfers between funds - out Gains/(losses) on investment assets (note 1) Revaluaton of asset (note 1) Net movement in funds Total funds brought forward Total funds carried forward |
Unrestricted funds Designated funds Restricted funds Endowment funds 2023 total funds £ 2022 total funds £ 87,835.33 3,820.00 - - 91,655.33 370,399.24 10,612.36 460.00 - - 11,072.36 9,676.46 2,222.29 8,047.81 77.88 - 10,347.98 6,669.84 15,004.46 9,900.00 - - 24,904.46 10,196.80 - - - - - 1,150.00 |
|---|---|
| 115,674.44 22,227.81 77.88 - 137,980.13 398,092.34 142,923.40 17,757.67 935.33 - 161,616.40 138,334.22 - 14,417.83 - - 14,417.83 10,601.96 |
|
| 142,923.40 32,175.50 935.33 - 176,034.23 148,936.18 |
|
| (27,248.96) (9,947.69) (857.45) - (38,054.10) 249,156.16 - 2,689.35 - - 2689.35 75,165.00 (155.04) (2,534.31) - - (2689.35) (75,165.00) - - - 3,360.87 3,360.87 (3,211.87) - 85,000.00 - - 85,000.00 - |
|
| (27,404.00) 75,207.35 (857.45) 3,360.87 50,306.77 245,945.99 |
|
| 391,912.62 417,913.30 104,609.71 30,343.50 944,779.13 698,834.84 |
|
| 364,508.62 493,120.65 103,752.26 33,704.37 995,085.90 944,779.13 |
Page 11 of 23
PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023
Balance Sheet
| Statement of assets and liabilites | 2023 £ 2022 £ |
|---|---|
| 1 Fixed assets |
|
| Tangible assets | 436,804.04 362,406.00 |
| 2 Investments |
33,704.37 30,343.50 |
| 470,508.41 392,749.50 |
|
| 3 Current assets |
|
| Debtors | 8,163.00 6,688.00 |
| Cash at bank and in hand | 522,383.02 552,946.63 |
| 530,546.02 559.634.63 |
|
| 4 Liabilites |
|
| Creditors: Amounts fallingdue in oneyear | 5,968.53 7,605.00 |
| 5,968.53 7,605.00 |
|
| Net current assets less current liabilites | 524,577.49 552,029.63 |
| Total assets less current liabilites – Page 13 | 995,085.90 944,779.13 |
| 5 Unrestricted General Fund Designated Benefce Fabric & Infrastructure Fund On Going Learning St Andrews Hall Fund St Andrews House Fund St Peter & Paul Streaming St Peter & Paul Graveyard Fund Parish Nursing Pop up Shop Restricted Organ Fund St Peter & Paul Church Fabric & Infrastructure Fund StAndrews Church Fabric & Infrastructure Fund Endowment St Peter & Paul Graveyard Fund Funds of the church |
364,508.62 391,912.62 19,775.14 22,309.45 3,000.00 - 21,212.00 20,411.23 398,134.72 311,459.06 31,804.04 43,687.56 16,000.00 16,000.00 1,914.75 4,046.00 1,280.00 - 2,314.88 2,237.00 18,624.00 18,624.00 82,813.38 83,748.71 33,704.37 30,343.50 |
| 995,085.90 944,779.13 |
C A Hood - Vicar
M Van den Ende – Treasurer Date 19 March 2024
Page 12 of 23
PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023
Statement of Assets and Liabilities
| General Designated Restricted Endowment 2023 £ 2022 £ |
|
|---|---|
| Fixed assets - Investments Oliver CCLA Investment Fund Churchman CCLA Deposit Totals Fixed assets – Tangible Assets St Andrews House St Andrews Hall Equipment Totals Current assets – Cash at bank and in hand Barclays Current Account Barclays Savings Account Cash in hand Totals Current assets - Debtors Accounts Receivable Totals Current assets - Investments The CBF CofE Deposit Account Totals Liabilites -Creditors Amounts falling due in one year Accounts Payable Totals Grand total |
- - - 27,503.39 27,503.39 24,414.60 - - - 6,200.98 6,200.98 5,928.90 |
| - - - 33,704.37 33,704.37 30,343.50 - 385,000.00 - - 385,000.00 300,000.00 - 20,000.00 - - 20,000.00 20,000.00 - 31,804.04 - - 31,804.04 42,406.00 |
|
| - 436,804.04 - - 436,804.04 362,406.00 11,596.12 3,632.72 77.88 - 15,306.72 46,744.86 32,327.77 34,868.14 19,880.38 - 87,076.29 186,201.76 0.01 - - - 0.01 0.01 |
|
| 43,923.90 38,500.86 19,958.26 - 102,383.02 232,946.63 6,345.00 1,818.00 - - 8,163.00 6,688.00 |
|
| 6,345.00 1,818.00 - - 8,163.00 6,688.00 320,000.00 16,206.00 83,794.00 - 420,000.00 320,000.00 |
|
| 320,000.00 16,206.00 83,794.00 - 420,000.00 320,000.00 5,760.28 208.25 - - 5,968.53 7,605.00 |
|
| 5,760.28 208.25 - - 5,968.53 7,605.00 |
|
| 364,508.62 493,120.65 103,752.26 33,704.37 995,085.90 944,779.13 |
Page 13 of 23
PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023
Fund movement summary
| Benefce Fabric & Infrastructure Designated Organ Fund Restricted On Going Learning Designated Parish Nursing Designated Pop Up Designated St Peter & Paul Graveyard Endowment St Peter & Paul Graveyard Designated St Andrews Fabric & Infrastructure Restricted St Andrews Hall Fund Designated St Andrews House Fund Designated St P & P Fabric & Infrastructure Restricted St P & P Streaming Designated General Fund Grand Total |
Page14of23 Opening £ Incoming £ Outgoing £ Transfers £ Gains/losses £ Closing £ 22,309.45 - - (2,534.31) - 19,775.14 2,237.00 77.88 - - - 2,314.88 - 3,000.00 - - - 3,000.00 4,046.00 - 2,131.25 - - 1,914.75 - 1,280.00 - - - 1,280.00 30,343.50 - - - 3,360.87 33,704.37 16,000.00 - - - - 16,000.00 83,748.71 - 935.33 - - 82,813.38 20,411.23 8,047.81 7,402.08 155.04 - 21,212.00 311,459.06 9,900.00 8,224.34 - 85,000.00 398,134.72 18,624.00 - - - - 18,624.00 43,687.56 - 14,417.83 2,534.31 - 31,804.04 391,912.62 115,674.44 142,923.40 (155.04) - 364,508.62 944,779.13 137,980.13 176,034.23 - 88,360.87 995,085.90 |
|---|---|
PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023
Analysis of income and expenditure
| Unrestricted | Designated | Restricted | Endow ment |
2023 £ | 2022 £ | |
|---|---|---|---|---|---|---|
| INCOME AND ENDOWMENTS | FROM: | |||||
| Donatons and legacies | ||||||
| Gif Aid Giving | 48,965.00 | 3,820.00 | - | - | 52,785.00 | 53,282.00 |
| Other Planned Giving | 13,457.00 | - | - | - | 13,457.00 | 15,905.72 |
| Weekly Oferings | 9,858.12 | - | - | - | 9,858.12 | 8,712.60 |
| Recurring Donatons | 5.00 | - | - | - | 5.00 | 5.00 |
| Non Recurring Donatons | 2,028.00 | - | - | - | 2,028.00 | 1,299.57 |
| Gif Aid Recovered | 13,144.00 | - | - | - | 13,144.00 | 13,252.00 |
| Legacies | 378.21 | - | - | - | 378.21 | 277,942.35 |
| Totals | 87,835.33 |
3,820.00 | - | - | 91,655.33 | 370,399.24 |
| Income from charitable actvites | ||||||
| Pop up Shop | 3,552.42 | 460.00 | - | - | 4,012.42 | 2,870.46 |
| Weddings, Funerals & Memorial Fees |
6,920.80 | - | - | - | 6,920.80 | 6,411.50 |
| Other Income | 139.14 | - | - | - | 139.14 | 394.50 |
| Totals | 10,612.36 |
460.00 | - | - | 11,072.36 | 9,676.46 |
| Other trading actvites | ||||||
| Fund Raising | 2,222.29 | - | 77.88 | - | 2,300.17 | 1,277.50 |
| St Andrews Hall Fees | - | 8,047.81 | - | - | 8,047.81 | 5,392.34 |
| Totals | 2,222.29 |
8,047.81 | 77.88 | - | 10,347.98 | 6,669.84 |
| Investments | ||||||
| Dividends & Interest | 15,004.46 | - | - | - | 15,004.46 | 296.80 |
| St Andrews House Rental Income |
- | 9,900.00 | - | - | 9,900.00 | 9,900.00 |
| Totals | 15,004.46 |
9,900.00 | - | - | 24,904.46 | 10,196.80 |
| Other income | ||||||
| Insurance Claims | - | - | - | - | - | 1,150.00 |
| Totals | - | - | - | - | - | 1,150.00 |
| Grand totals | 115,674.44 |
22,227.81 | 77.88 | - | 137,980.13 | 398,092.34 |
2022 |
382,800 |
15,292 | - | - | 398,092 |
Page 15 of 23
PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL
TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023
| EXPENDITURE ON: | 2023 £ | 2022 £ | |||||
|---|---|---|---|---|---|---|---|
| Expenditure on charitable actvites | |||||||
| Church Overseas (note 7) | 1,560.00 | - | - | - | 1,560.00 | 3,020.00 | |
| Home Mission Giving (note 7) | 1,560.00 | - | - | - | 1,560.00 | 4,530.00 | |
| Secular Charites (note 7) | 4,680.00 | - | - | - | 4,680.00 | - | |
| Pop up Shop | 2,959.96 | - | - | - | 2,959.96 | 746.14 | |
| Parish Share | 77,996.00 | - | - | - | 77,996.00 | 73,779.00 | |
| Administratve Ofcer Costs | 13,036.92 | - | - | - | 13,036.92 | 13,829.11 | |
| Organist Fees | 1,810.00 | - | - | - | 1,810.00 | 1,260.00 | |
| Gardener Fees |
- | - | - | - | - | 1,118.35 | |
| Vergers Fees | 520.00 | - | - | - | 520.00 | 560.00 | |
| Clergy Working Costs | 341.31 | - | - | - | 341.31 | 1,564.91 | |
| Assistant Clergy Costs | 44.10 | - | - | - | 44.10 |
- | |
| Mission & Outreach Expenses | 31.87 | 2,131.25 | - | - | 2,163.12 | 1,249.94 | |
| St Andrews Church Insurance | 1,574.93 | - | - | - | 1,574.93 | 1,782.38 | |
| St P & P Church Insurance | 1,737.38 | - | - | - | 1,737.38 | 1,880.76 | |
| St Nicholas Church Insurance | 242.10 | - | - | - | 242.10 | 274.56 | |
| Upkeep of Services | 9,275.67 | - | - | - | 9,275.67 | 2,295.28 | |
| Copier Related Costs | 1,144.39 | - | - | - | 1,144.39 | 1,007.77 | |
| Other Administratve Cost | 6,215.50 | - | - | - | 6,215.50 | 652.30 | |
| Church Cleaning & Minor Repairs |
- | - | - | - | - | 2,048.08 | |
| Upkeep of Church Grounds | 2,762.31 | - | - | - | 2,762.31 | 1,204.00 | |
| Other Support Costs | 344.98 | - | - | - | 344.98 | 1,019.99 | |
| St Andrews Church Utlites | 4,519.69 | - | - | - | 4,519.69 | 5,839.27 | |
| St P & P Church Utlites | 2,948.42 | - | - | - | 2,948.42 | 2,160.78 | |
| St Nicholas Church Utlites | 270.71 | - | - | - | 270.71 | 325.18 | |
| Communicaton Costs | 782.38 | - | - | - | 782.38 | 693.92 | |
| St Andrews Hall Utlites |
- | 3,449.29 | - | - | 3,449.29 | 2,802.09 | |
| St Andrews Hall Insurance |
- | 1,107.80 | - | - | 1,107.80 | 1,257.95 | |
| St Andrews Hall Cleaning & Minor Repairs |
- | 2,844.99 | - | - | 2,844.99 | 575.00 | |
| St Andrews House Insurance |
- | 723.34 | - | - | 723.34 | 673.94 | |
| St Andrews House Agent Fee |
- | 1,188.00 | - | - | 1,188.00 | 1,188.00 | |
| St Andrews House Maintenance |
- | 6,313.00 | - | - | 6,313.00 | 996.00 | |
| Fees - Churchyard Masons | 3,084.78 | - | - | - | 3,084.78 | 1,043.52 | |
| Governance Costs (note 8) | 3,480.00 | - | - | - | 3,480.00 | 2,635.00 | |
| St Andrews Church Major Repairs |
- | - | 935.33 | - | 935.33 | 1,400.00 | |
| St P & P Church Major repairs |
- | - | - | - | - | 2,921.00 | |
| Totals | 142,923.40 | 17,757.67 | 935.33 | - | 161,616.40 | 138,334.22 | |
| Other expenditure | |||||||
| Depreciaton (note 1) |
- | 10,601.96 | - | - | 10,601.96 | 10,601.96 | |
| Streaming |
- | 3,815.87 | - | - | 3,815.87 | - | |
| Other expenditure Totals |
- | 14,417.83 | - | - | 14,417.83 | 10,601.96 | |
| Expenditure Grand totals | 142,923.40 | 32,175.50 | 935.33 | - | 176,034.23 | 148,936.18 | |
| 2022 | 124,448 | 19,069 | 5,439 | - | 148,396 |
Page 16 of 23
PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023
NOTES TO THE FINANCIAL STATEMENTS
ACCOUNTING POLICIES
BASIS OF PREPARATION OF ACCOUNTS
The accounts have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (as amended for accounting periods commencing 1st January 2019).
The accounts have been prepared to give a 'true and fair' view and have departed from the Charities' (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following Accounting and Reporting by Charities Statement of Recommended Practice applicable to charities applying FRS 102 rather than the version referred to in the regulations which has since been withdrawn.
The accounts are prepared in sterling, which is the functional currency. Monetary amounts are stated in pounds and pence. The accounts have been prepared on the going concern basis as the Council have a reasonable expectation that the Church has adequate resources to continue operating for the foreseeable future.
The Parish of Old Felixstowe Parochial Church Council meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless stated in the relevant accounting policy notes.
FUNDS
Unrestricted funds are funds of the PCC that are not subject to restriction on their use and are able to be applied by the PCC for general purposes.
The PCC may designate unrestricted funds for a particular purpose as a matter of internal financial discipline.
Restricted funds are annotated on their use.
Endowment funds are restricted funds, the interest from which is to be used for purposes specified by the funds' donors.
These accounts deal only with such transactions for which the PCC is responsible. The affairs of groups affiliated to the church and other gatherings within it are excluded.
INCOMING RESOURCES
Collections are taken to account when received. Income from covenanted giving and ancillary donations are taken to account only when received. Income tax recoverable under the Gift Aid Scheme is recognised on a receivable basis.
Page 17 of 23
PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023
Legacies income is recognised when the PCC has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably.
Recurring and nonrecurring grants are taken to account only when credited to the PCC’s bank. Income from charitable activities is recognised on a receivable basis.
Fundraising and income generated from other trading activities are recognised when received.
RESOURCES USED
Donations and grants are taken to account on voting by the PCC or payment, whichever is the earlier. Other costs are accounted for when the PCC's liability for them occurs.
FIXED ASSETS
Consecrated Land & Buildings
These are excluded from the accounts.
No value is placed on movable church furnishings that require a faculty for disposal.
Expenditure on consecrated property and movable furnishings whether improvement or maintenance is written off in the year of expenditure.
Other Land & Buildings
St Andrew’s House is stated at market value provided by a professional valuer in February 2024. The value is reviewed on an annual basis by the Trustees and professionally revalued at intervals of no more than 5 years.
St Andrews Hall is stated at cost.
Expenditure on other land and buildings is written off as incurred and no depreciation is charged.
Other Fittings, fixtures equipment
This is written off on a linear basis over three years. Items less that £1,000 in value are written
off when acquired. Streaming equipment is written off over 5 years on linear basis.
IMPAIRMENT OF FIXED ASSETS
At each reporting date the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those have suffered any impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
INVESTMENTS
Investments are shown at market value. Differences in closing market value from the preceding year are taken to the Statement of Financial Activities as an unrealised movement.
Page 18 of 23
PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023
Income arising from investments is accounted for on an accrual basis.
FINANCIAL INSTRUMENTS
Other than the fixed asset investments, the charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised in the Balance Sheet when the PCC becomes party to the contractual provision of the instrument.
CURRENT ASSETS
Sums owed to the PCC are shown as debtors less any amount which may not be collectable.
Cash at bank and in hand includes cash and highly liquid investments.
ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The freehold property, 10, Fleetwood Road, is professionally revalued at intervals of no more than five years. A professional valuer has provided a market value in February 2024 (see note 1).
PENSIONS
The PCC makes payments to a pension scheme for its employee. Contributions are charged to the Statement of Financial Activities as they become payable.
LEASES
Rentals payable under operating leases are charged against income as they become payable.
EMPLOYMENT TERMINATION
There is currently no provision for contractual payments on termination of employment in staff contracts. If a termination becomes necessary, it will be dealt with in accordance with circumstances and employment law in force at that time.
TAXATION
The activities are exempt from United Kingdom VAT and Income taxation.
NOTE 1: FIXED ASSETS
The PCC beneficially owns two non-consecrated freehold properties: St. Andrew's Church Hall and St. Andrew's House. There has been no depreciation in 2022.
St. Andrew's House was professionally valued in February 2024 and is stated at a value of £385,000 in these accounts.
St Andrews Hall is stated at cost in these accounts. This was professionally valued at £190,000 in 2020.
The PCC also owns St. Nicholas’s church, a non-consecrated property at Felixstowe Ferry. If services are not held there for a period of more than one year, interest in the property reverts to the original donor. In the PCC's opinion the property has no market value to the PCC. These properties are unrestricted.
Page 19 of 23
PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023
NOTE 1: (continued)
| Cost/Valuaton Brought forward Revaluaton Additons Disposal Carried forward Depreciaton Brought forward Charge On disposal carried forward Writen down value At 31st December 2023 At 31st December 2022 |
Equipment St Andrew's St Andrew's Total £ House Hall 53,007.96 300,000.00 40,000.00 393,007.96 - 85,000.00 - 85,000.00 - - - - - - - - |
Equipment St Andrew's St Andrew's Total £ House Hall 53,007.96 300,000.00 40,000.00 393,007.96 - 85,000.00 - 85,000.00 - - - - - - - - |
|---|---|---|
| 53,007.96 385,000.00 40,000.00 478,007.96 |
||
| 10,601.96 - 20,000.00 30,601.96 10,601.96 - - 10,601.96 - - - - |
||
| 21,203.92 - 20,000.00 41,203.92 |
||
| 31,804.04 385,000.00 20,000.00 436,804.04 |
||
| 42,406.00 300,000.00 20,000.00 362,406.00 |
NOTE 2:
ENDOWMENTS
The Diocese holds certain funds, the income from which is for the benefit of the parish. Cash from these funds is shown in Saints Peter & Paul Graves & Fabric Fund
| Original capital sum | ||
|---|---|---|
| £ | ||
| OLIVER | For Maintenance of Oliver family graves and | 757 |
| keeping legible their letering and beneft of Ss | ||
| Peter and Paul. | ||
| Interest held at the Diocese, available to the PCC | ||
| CHURCHMAN | For fabric and grave maintenance, partcularly | 1,000 |
| Churchman family graves. Trust deed held at | ||
| Diocese, available to the PCC |
ENDOWMENT MOVEMENT IN VALUATION
| OLIVER CHURCHMAN TOTAL |
Value 2022 £ Value 2023 £ Movement £ 24,414.60 27,503.39 3,088.79 5,928.90 6,200.98 272.08 |
|---|---|
| 30,343.50 33,704.37 3,360.87 |
Page 20 of 23
PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL
TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023
NOTE 3: DEBTORS
| Other debtors Prepayments |
2022 £ 2,245.00 4,443.00 6,688.00 |
2023 £ 2,676.00 5,487.00 |
|---|---|---|
| 8,163.00 |
NOTE 4: LIABILITIES FALLING WITHIN ONE YEAR
| Creditors Accruals |
2022 £ 1,510.00 6,095.00 7,605.00 |
2023 £ 1,759.77 4,208.76 |
|---|---|---|
| 5,968.53 |
NOTE 5: ANALYSIS OF NET ASSETS BY FUND for the year ended 31[st] December 2022
| Fixed assets Current assets Liabilites Net current assets less current liabilites Total assets less current liabilites Total funds carried forward |
Unrestricted/ Restricted Endowment Total £ Designated |
|---|---|
| 362,406.00 - 30,343.50 392,749.50 |
|
| 455,024.92 104,609.71 - 559,634.63 7,605.00 - - 7,605.00 |
|
| 447,419.92 104,609.71 - 552,029.63 |
|
| 809,825.92 104,609.71 30,343.50 944,779.13 |
|
| 809,825.92 104,609.71 30,343.50 944,779.13 |
NOTE 6: OPERATING LEASE COMMITMENTS
On 22 August 2019, the church entered into a 5-year operating lease agreement in respect of a photocopier.
Page 21 of 23
PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023
NOTE 6: (continued)
The amount outstanding at 31 December 2023 was as follows:
| Within 1 year More than 1 year |
2022 £ 879.80 439.00 1,328.80 |
2023 £ 439.00 - |
|---|---|---|
| 439.00 |
Payments recognised as expenditure amounted to £879.80 (2022: £880)
NOTE 7: PAYMENTS TO INSTITUTIONS & INDIVIDUALS
The PCC made the following donations:
| Overseas Mission Fellowship TEAR fund Church Pastoral Aid Society BOOST Felixstowe The Hope Trust |
2022 £ 1,510.00 1,510.00 1,510.00 1,510.00 1,510.00 7,550.00 |
2023 £ 1,560.00 1,560.00 1,560.00 1,560.00 1,560.00 |
|---|---|---|
| 7,800.00 |
NOTE 8: GOVERNANCE COSTS
Governance costs of £3,480 relate to Independent Examination fees (2023: £2,635).
Page 22 of 23
PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023
Note 9: FUND MOVEMENT – Year ended 31 December 2022
Opening £ Incoming Outgoing Transfers Gains/losses Closing £
| Benefce Fabric & Infrastructure Fund Designated 22,309.45 — — — — 22,309.45 22,309.45 — — — — 22,309.45 Organ Fund Designated 2,237.00 — — — — 2,237.00 2,237.00 — — — — 2,237.00 Parish Nursing Designated — — 954.00 5,000.00 — 4,046.00 — — 954.00 5,000.00 — 4,046.00 St Andrews Fabric & Infrastructure Fund Restricted 86,267.06 — 2,518.35 — — 83,748.71 86,267.06 — 2,518.35 — — 83,748.71 St Andrews Hall Fund Designated 19,653.93 5,392.34 4,635.04 — — 20,411.23 19,653.93 5,392.34 4,635.04 — — 20,411.23 St Andrews House Fund Designated 304,417.00 9,900.00 2,857.94 — — 311,459.06 304,417.00 9,900.00 2,857.94 — — 311,459.06 St P & P Fabric & Infrastructure Fund Designated 21,545.00 — 2,921.00 — — 18,624.00 21,545.00 — 2,921.00 — — 18,624.00 St P & P Graveyard Fund Endowment 49,555.37 — — (16,000.00) (3,211.87) 30,343.50 49,555.37 — — (16,000.00) (3,211.87) 30,343.50 St P & P Graveyard Fund Endowment — — — 16,000.00 — 16,000.00 — — — 16,000.00 — 16,000.00 Streaming St P & P Designated 124.43 — 53,007.96 54,165.09 — 1,281.56 124.43 — 53,007.96 54,165.09 — 1,281.56 General Fund Unrestricted 192,725.60 382,800.00 124,447.89(59,165.09) — 391,912.62 192,725.60 382,800.00 124,447.89 (59,165.09) — 391,912.62 Grand Total 698,834.84 398,092.34 191,342.18 — (3,211.87) 902,373.13 |
Benefce Fabric & Infrastructure Fund Designated 22,309.45 — — — — 22,309.45 22,309.45 — — — — 22,309.45 Organ Fund Designated 2,237.00 — — — — 2,237.00 2,237.00 — — — — 2,237.00 Parish Nursing Designated — — 954.00 5,000.00 — 4,046.00 — — 954.00 5,000.00 — 4,046.00 St Andrews Fabric & Infrastructure Fund Restricted 86,267.06 — 2,518.35 — — 83,748.71 86,267.06 — 2,518.35 — — 83,748.71 St Andrews Hall Fund Designated 19,653.93 5,392.34 4,635.04 — — 20,411.23 19,653.93 5,392.34 4,635.04 — — 20,411.23 St Andrews House Fund Designated 304,417.00 9,900.00 2,857.94 — — 311,459.06 304,417.00 9,900.00 2,857.94 — — 311,459.06 St P & P Fabric & Infrastructure Fund Designated 21,545.00 — 2,921.00 — — 18,624.00 21,545.00 — 2,921.00 — — 18,624.00 St P & P Graveyard Fund Endowment 49,555.37 — — (16,000.00) (3,211.87) 30,343.50 49,555.37 — — (16,000.00) (3,211.87) 30,343.50 St P & P Graveyard Fund Endowment — — — 16,000.00 — 16,000.00 — — — 16,000.00 — 16,000.00 Streaming St P & P Designated 124.43 — 53,007.96 54,165.09 — 1,281.56 124.43 — 53,007.96 54,165.09 — 1,281.56 General Fund Unrestricted 192,725.60 382,800.00 124,447.89(59,165.09) — 391,912.62 192,725.60 382,800.00 124,447.89 (59,165.09) — 391,912.62 Grand Total 698,834.84 398,092.34 191,342.18 — (3,211.87) 902,373.13 |
Benefce Fabric & Infrastructure Fund Designated 22,309.45 — — — — 22,309.45 22,309.45 — — — — 22,309.45 Organ Fund Designated 2,237.00 — — — — 2,237.00 2,237.00 — — — — 2,237.00 Parish Nursing Designated — — 954.00 5,000.00 — 4,046.00 — — 954.00 5,000.00 — 4,046.00 St Andrews Fabric & Infrastructure Fund Restricted 86,267.06 — 2,518.35 — — 83,748.71 86,267.06 — 2,518.35 — — 83,748.71 St Andrews Hall Fund Designated 19,653.93 5,392.34 4,635.04 — — 20,411.23 19,653.93 5,392.34 4,635.04 — — 20,411.23 St Andrews House Fund Designated 304,417.00 9,900.00 2,857.94 — — 311,459.06 304,417.00 9,900.00 2,857.94 — — 311,459.06 St P & P Fabric & Infrastructure Fund Designated 21,545.00 — 2,921.00 — — 18,624.00 21,545.00 — 2,921.00 — — 18,624.00 St P & P Graveyard Fund Endowment 49,555.37 — — (16,000.00) (3,211.87) 30,343.50 49,555.37 — — (16,000.00) (3,211.87) 30,343.50 St P & P Graveyard Fund Endowment — — — 16,000.00 — 16,000.00 — — — 16,000.00 — 16,000.00 Streaming St P & P Designated 124.43 — 53,007.96 54,165.09 — 1,281.56 124.43 — 53,007.96 54,165.09 — 1,281.56 General Fund Unrestricted 192,725.60 382,800.00 124,447.89(59,165.09) — 391,912.62 192,725.60 382,800.00 124,447.89 (59,165.09) — 391,912.62 Grand Total 698,834.84 398,092.34 191,342.18 — (3,211.87) 902,373.13 |
|---|---|---|
| 124.43 — 53,007.96 54,165.09 — 1,281.56 192,725.60 382,800.00 124,447.89(59,165.09) — 391,912.62 |
||
| 192,725.60 382,800.00 124,447.89 (59,165.09) — 391,912.62 |
||
| 698,834.84 398,092.34 191,342.18 — (3,211.87) 902,373.13 |
Page 23 of 23